HDFC Retirement Fund - Hybrid-Debt Plan vs HDFC Retirement Fund - Hybrid-Equity Plan
Direct Plan, Growth option · Data as on 30-10-2026
HDFC Retirement Fund - Hybrid-Debt Plan is a Solution fund and HDFC Retirement Fund - Hybrid-Equity Plan is a Solution fund. In the 3 years to 30-10-2026, HDFC Retirement Fund - Hybrid-Debt Plan (Direct) returned 6.5% a year and HDFC Retirement Fund - Hybrid-Equity Plan (Direct) returned 7.3% a year. HDFC Retirement Fund - Hybrid-Debt Plan charges 1.36% a year and HDFC Retirement Fund - Hybrid-Equity Plan 1.12% (Direct plans). Their portfolios overlap 30.5%: they hold 34 of the same securities.
HDFC Retirement Fund - Hybrid-Debt Plan
Solution
- 3 year return
- 6.5%
- Expense ratio
- 1.36%
- NAV
- ₹24.44
HDFC Retirement Fund - Hybrid-Equity Plan
Solution
- 3 year return
- 7.3%
- Expense ratio
- 1.12%
- NAV
- ₹41.17
Which is better, HDFC Retirement Fund - Hybrid-Debt Plan or HDFC Retirement Fund - Hybrid-Equity Plan? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HDFC Retirement Fund - Hybrid-Equity Plan returned more over 5 years: 8.6% a year against 6.7%.
- HDFC Retirement Fund - Hybrid-Equity Plan returned more over 3 years: 7.3% a year against 6.5%.
- HDFC Retirement Fund - Hybrid-Equity Plan costs less: 1.12% a year against 1.36% (Direct plans).
- HDFC Retirement Fund - Hybrid-Debt Plan swung less over 3 years: a standard deviation of 3.6% a year against 9.5%.
- HDFC Retirement Fund - Hybrid-Debt Plan fell less in its worst fall since 26-02-2016: −7.8% against −27.5%.
- HDFC Retirement Fund - Hybrid-Equity Plan holds more in large companies: 44.8% of the fund in large caps against 29.6%.
- HDFC Retirement Fund - Hybrid-Equity Plan is the larger fund: ₹1,530 Cr against ₹143 Cr.
- Their portfolios overlap 30.5%: 34 of the same holdings.
Past returns do not promise future returns. This page is information, not investment advice.
Key facts
From each fund's scheme summary document and AMFI
| Fact | HDFC Retirement Fund - Hybrid-Debt Plan | HDFC Retirement Fund - Hybrid-Equity Plan |
|---|---|---|
| Fund house | HDFC Mutual Fund | HDFC Mutual Fund |
| Category | Solution | Solution |
| AUM | ₹143 Cr (30-09-2026) | ₹1,530 Cr (30-09-2026) |
| NAV | ₹24.44 (Direct) | ₹41.17 (Direct) |
| Expense ratio (Direct) | 1.36% | 1.12% |
| Expense ratio (Regular) | 2.34% | 2.14% |
| Riskometer | Moderately High | Very High |
| Benchmark | Nifty 50 Hybrid Composite Debt 15:85 Conservative Index | NIFTY 50 Hybrid Composite Debt 65:35 Index (Total Returns Index) |
| Launch date | 26-02-2016 | 25-02-2016 |
| Minimum investment | ₹100 | ₹100 |
| Lock in | 5 years, or until retirement if earlier | 5 years, or until retirement if earlier |
| Fund managers | Anupam Joshi, Arun Agarwal, Nandita Menezes, Chirag Setalvad, Gopal Agrawal | Anupam Joshi, Arun Agarwal, Nandita Menezes, Chirag Setalvad, Gopal Agrawal |
| Exit load | Nil | Nil |
HDFC Retirement Fund - Hybrid-Debt Plan vs HDFC Retirement Fund - Hybrid-Equity Plan: Returns Comparison
Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.
| Fund | 1M | 3M | 6M | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|---|---|---|
| HDFC Retirement Fund - Hybrid-Debt Plan (Direct) | −0.32% | −2.18% | −0.13% | −1.14% | +6.54% | +6.74% | +7.86% |
| HDFC Retirement Fund - Hybrid-Equity Plan (Direct) | +0.09% | −4.73% | −2.46% | −8.32% | +7.29% | +8.64% | +12.00% |
HDFC Retirement Fund - Hybrid-Debt Plan vs HDFC Retirement Fund - Hybrid-Equity Plan: Year-wise Returns
| Year | Hybrid-DebtHDFC Retirement Fund - Hybrid-Debt Plan | Hybrid-EquityHDFC Retirement Fund - Hybrid-Equity Plan |
|---|---|---|
| 2026to date | −1.83% | −8.74% |
| 2025 | +6.35% | +6.58% |
| 2024 | +11.11% | +15.35% |
| 2023 | +12.43% | +26.44% |
| 2022 | +5.00% | +6.09% |
| 2021 | +10.04% | +26.22% |
HDFC Retirement Fund - Hybrid-Debt Plan vs HDFC Retirement Fund - Hybrid-Equity Plan: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 1,858 of them, one for each trading day from 26-02-2019 to 30-10-2026: the yearly return (CAGR) of each, plotted on the day it ended. One lucky or unlucky start day cannot flatter or hide a fund.
HDFC Retirement Fund - Hybrid-Debt Plan (Direct)
HDFC Retirement Fund - Hybrid-Equity Plan (Direct)
to
Oct 2019Jan 2018
to
Jan 2021May 2019
to
May 2022Sept 2020
to
Sept 2023Dec 2021
to
Dec 2024Mar 2023
to
Mar 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HDFC Retirement Fund - Hybrid-Debt Plan | 0.0 | 0.1 | 76.4 | 23.5 | 0.0 | 0.0 | 0.0 | 8.9% | 9.3% | 5.0% | 12.0% |
| HDFC Retirement Fund - Hybrid-Equity Plan | 0.2 | 5.3 | 13.1 | 22.4 | 48.4 | 8.9 | 1.7 | 14.7% | 15.8% | −0.6% | 28.5% |
The table shows the % of periods in each return band; a darker cell holds more of them. Lumpsum: the yearly rate (CAGR) from a period's first NAV to its last. SIP: the XIRR of the monthly instalments. Every fund is measured over the days all of them have, from 26-02-2016. Past returns do not promise future returns.
HDFC Retirement Fund - Hybrid-Debt Plan vs HDFC Retirement Fund - Hybrid-Equity Plan: SIP and Lumpsum Returns
What the same monthly or one-time investment would be worth in each fund today, from their own NAV history
Growth of an investment
₹10,000 on the first trading day of every month, from 26-02-2016 to 30-10-2026: 129 instalments, ₹12,90,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HDFC Retirement Fund - Hybrid-Debt PlanHDFC Retirement Fund - Hybrid-Debt Plan (Direct) | ₹12,90,000 | ₹19,58,897 | ₹6,68,897 | 7.5% |
| HDFC Retirement Fund - Hybrid-Equity PlanHDFC Retirement Fund - Hybrid-Equity Plan (Direct) | ₹12,90,000 | ₹24,61,191 | ₹11,71,191 | 11.5% |
HDFC Retirement Fund - Hybrid-Debt PlanHDFC Retirement Fund - Hybrid-Debt Plan (Direct)
HDFC Retirement Fund - Hybrid-Equity PlanHDFC Retirement Fund - Hybrid-Equity Plan (Direct)
Amount invested
From each plan's published NAV (Growth option), over the same days. Return a year: XIRR for a SIP, CAGR for a lumpsum, shown for a year or more. It does not include exit load, stamp duty or tax. Past returns do not promise future returns.
HDFC Retirement Fund - Hybrid-Debt Plan vs HDFC Retirement Fund - Hybrid-Equity Plan: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HDFC Retirement Fund - Hybrid-Debt Plan (Direct) | HDFC Retirement Fund - Hybrid-Equity Plan (Direct) |
|---|---|---|
| Return (CAGR) | −1.14% | −8.32% |
| Standard deviation | 3.96% | 10.08% |
| Sharpe ratio | -1.61 | -1.35 |
| Sortino ratio | -2.11 | -1.76 |
| Maximum drawdown | −4.0% (30-03-2026) | −12.1% (30-03-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 30-10-2025 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
| Measure | HDFC Retirement Fund - Hybrid-Debt Plan (Direct) | HDFC Retirement Fund - Hybrid-Equity Plan (Direct) |
|---|---|---|
| Return (CAGR) | +6.54% | +7.29% |
| Standard deviation | 3.56% | 9.45% |
| Sharpe ratio | 0.15 | 0.13 |
| Sortino ratio | 0.20 | 0.18 |
| Maximum drawdown | −4.0% (30-03-2026) | −12.3% (03-03-2025) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 30-10-2023 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
| Measure | HDFC Retirement Fund - Hybrid-Debt Plan (Direct) | HDFC Retirement Fund - Hybrid-Equity Plan (Direct) |
|---|---|---|
| Return (CAGR) | +6.74% | +8.64% |
| Standard deviation | 3.43% | 9.47% |
| Sharpe ratio | 0.27 | 0.30 |
| Sortino ratio | 0.37 | 0.40 |
| Maximum drawdown | −4.0% (30-03-2026) | −12.3% (03-03-2025) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 29-10-2021 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
| Measure | HDFC Retirement Fund - Hybrid-Debt Plan (Direct) | HDFC Retirement Fund - Hybrid-Equity Plan (Direct) |
|---|---|---|
| Return (CAGR) | +8.71% | +14.17% |
| Standard deviation | 3.48% | 10.66% |
| Sharpe ratio | 0.93 | 0.82 |
| Sortino ratio | 1.30 | 1.10 |
| Maximum drawdown | −7.8% (23-03-2020) | −27.5% (23-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 26-02-2016 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
Drawdowns
How far below its previous high each one was on every day: the falls an investor had to sit through. 0% means it was at a new high.
HDFC Retirement Fund - Hybrid-Debt Plan (Direct)
HDFC Retirement Fund - Hybrid-Equity Plan (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HDFC Retirement Fund - Hybrid-Debt Plan (Direct) | −7.8% | 14-02-2020 | 23-03-2020 | 10-07-2020 | 4 months | −2.6% |
| HDFC Retirement Fund - Hybrid-Equity Plan (Direct) | −27.5% | 20-02-2020 | 23-03-2020 | 08-10-2020 | 7 months | −9.3% |
From daily values since 26-02-2016, the first day every fund has.
Rolling standard deviation
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 1-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
HDFC Retirement Fund - Hybrid-Debt Plan (Direct)
HDFC Retirement Fund - Hybrid-Equity Plan (Direct)
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 3-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
HDFC Retirement Fund - Hybrid-Debt Plan (Direct)
HDFC Retirement Fund - Hybrid-Equity Plan (Direct)
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 5-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
HDFC Retirement Fund - Hybrid-Debt Plan (Direct)
HDFC Retirement Fund - Hybrid-Equity Plan (Direct)
HDFC Retirement Fund - Hybrid-Debt Plan vs HDFC Retirement Fund - Hybrid-Equity Plan: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC Retirement Fund - Hybrid-Debt Plan, September 2026; HDFC Retirement Fund - Hybrid-Equity Plan, September 2026
Holdings in common
- Overlap
- 30.5%
- Held by both
- 34
- Only in HDFC Retirement Fund - Hybrid-Debt Plan
- 15
- Only in HDFC Retirement Fund - Hybrid-Equity Plan
- 39
| Security | % of HDFC Retirement Fund - Hybrid-Debt Plan | % of HDFC Retirement Fund - Hybrid-Equity Plan |
|---|---|---|
| ICICI Bank Ltd. | 7.90% | 6.05% |
| Reliance Industries Ltd. | 5.53% | 3.49% |
| HDFC Bank Ltd. | 2.18% | 5.56% |
| Larsen and Toubro Ltd. | 7.43% | 1.84% |
| State Bank of India | 1.31% | 3.14% |
| Axis Bank Ltd. | 1.12% | 3.21% |
| Bharti Airtel Ltd. | 0.99% | 2.30% |
| Mahindra Rural Housing Finance Ltd | 7.04% | 0.98% |
| 7.57% GOI MAT 170633 | 5.38% | 0.84% |
| Maruti Suzuki India Limited | 0.84% | 2.35% |
| Vedant Fashions Ltd | 0.71% | 0.90% |
| Infosys Limited | 0.70% | 1.95% |
| Suprajit Engineering Ltd. | 0.67% | 0.93% |
| United Spirits Limited | 0.66% | 0.80% |
| City Union Bank Ltd. | 0.63% | 1.38% |
| Transport Corporation of India Ltd. | 0.61% | 0.63% |
| Balkrishna Industries Ltd. | 0.59% | 0.69% |
| SBI Life Insurance Company Ltd. | 0.59% | 1.11% |
| 6.67% GOI MAT 171250 | 9.37% | 0.58% |
| Dr. Lal Path Labs Ltd | 0.56% | 1.69% |
| Power Grid Corporation of India Ltd. | 0.55% | 1.70% |
| ITC LIMITED | 0.46% | 1.20% |
| Vesuvius India Ltd. | 0.45% | 0.83% |
| WEST COAST PAPER MILLS LIMITED | 0.52% | 0.44% |
| PVR LIMITED | 0.43% | 0.71% |
| Alkem Laboratories Ltd. | 0.36% | 1.01% |
| Zensar Technologies Ltd. | 0.30% | 0.41% |
| Voltamp Transformers Ltd. | 0.29% | 0.55% |
| Kalpataru Projects International Ltd | 0.29% | 0.67% |
| Bayer Cropscience Ltd | 0.28% | 0.36% |
| Hindustan Petroleum Corp. Ltd. | 0.25% | 0.57% |
| Huhtamaki India Limited | 0.25% | 0.59% |
| SKF India Ltd. | 0.21% | 0.69% |
| GSPL Transmission Limited | 0.05% | 0.07% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 30.5% means 30.5% of each fund's money sits in positions the other also holds. Matched by ISIN. Cash and hedged positions are left out.
Largest holdings only in HDFC Retirement Fund - Hybrid-Debt Plan
| Security | % of fund |
|---|---|
| 6.48% GOI MAT 061035 | 6.70% |
| 6.19% GOI MAT 160934 | 6.60% |
| 8.97% GOI MAT 051230 | 4.14% |
| 7.5% GOI MAT 100834 | 3.57% |
| Indian Railways Finance Corp. Ltd. | 3.56% |
Largest holdings only in HDFC Retirement Fund - Hybrid-Equity Plan
| Security | % of fund |
|---|---|
| Bajaj Finance Ltd. | 4.46% |
| Kotak Mahindra Bank Limited | 3.54% |
| 7.26% GOI MAT 220832 | 1.98% |
| 6.1% GOI MAT 120731 | 1.96% |
| 7.18% GOI MAT 140833 | 1.64% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC Retirement Fund - Hybrid-Debt Plan | HDFC Retirement Fund - Hybrid-Equity Plan |
|---|---|---|
| Equity | 42.0% | 70.0% |
| Debt | 46.5% | 17.6% |
| Cash and others | 11.6% | 12.5% |
Market cap of stocks
| Market cap | HDFC Retirement Fund - Hybrid-Debt Plan | HDFC Retirement Fund - Hybrid-Equity Plan |
|---|---|---|
| Large Cap | 29.6% | 44.8% |
| Mid Cap | 2.9% | 6.4% |
| Small Cap | 9.4% | 18.7% |
| Not on AMFI's list | 0.1% | 0.1% |
Share of the whole fund. Groups follow AMFI's latest list: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.
Largest sectors
| Sector | HDFC Retirement Fund - Hybrid-Debt Plan | HDFC Retirement Fund - Hybrid-Equity Plan |
|---|---|---|
| Banks | 13.1% | 23.4% |
| Construction | 7.7% | 2.5% |
| Petroleum Products | 5.8% | 4.1% |
| Pharmaceuticals & Biotechnology | 0.8% | 4.6% |
| IT - Software | 1.0% | 4.3% |
| Insurance | 0.6% | 3.9% |
| Auto Components | 1.9% | 3.8% |
| Retailing | 1.9% | 0.9% |
| Industrial Products | 1.2% | 1.8% |
The six largest sectors of each fund's stocks, % of the fund.
HDFC Retirement Fund - Hybrid-Debt Plan vs HDFC Retirement Fund - Hybrid-Equity Plan: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC Retirement Fund - Hybrid-Debt Plan | HDFC Retirement Fund - Hybrid-Equity Plan |
|---|---|---|
| Total expense ratio (Direct) | 1.36% | 1.12% |
| Base expense ratio (Direct) | 0.99% | 0.92% |
| Total expense ratio (Regular) | 2.34% | 2.14% |
| Base expense ratio (Regular) | 1.85% | 1.81% |
The expense ratio comes out of the fund's assets every day, so every return on this page is already after it. Base expense ratio: the fund house's own fee. The total adds brokerage, transaction costs, and levies with GST.
HDFC Retirement Fund - Hybrid-Debt Plan vs HDFC Retirement Fund - Hybrid-Equity Plan: Frequently Asked Questions
What is the difference between HDFC Retirement Fund - Hybrid-Debt Plan and HDFC Retirement Fund - Hybrid-Equity Plan?
HDFC Retirement Fund - Hybrid-Debt Plan is a Solution fund, HDFC Retirement Fund - Hybrid-Equity Plan is a Solution fund, run by HDFC Mutual Fund. Their portfolios overlap 30.5%. HDFC Retirement Fund - Hybrid-Debt Plan charges 1.36% a year and HDFC Retirement Fund - Hybrid-Equity Plan 1.12%.
Which has given higher returns, HDFC Retirement Fund - Hybrid-Debt Plan or HDFC Retirement Fund - Hybrid-Equity Plan?
Over 1 year: HDFC Retirement Fund - Hybrid-Debt Plan −1.14%, HDFC Retirement Fund - Hybrid-Equity Plan −8.32%. Over 3 years: HDFC Retirement Fund - Hybrid-Debt Plan +6.54% a year, HDFC Retirement Fund - Hybrid-Equity Plan +7.29% a year. Over 5 years: HDFC Retirement Fund - Hybrid-Debt Plan +6.74% a year, HDFC Retirement Fund - Hybrid-Equity Plan +8.64% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HDFC Retirement Fund - Hybrid-Debt Plan or HDFC Retirement Fund - Hybrid-Equity Plan?
HDFC Retirement Fund - Hybrid-Equity Plan charges less: 1.12% a year against 1.36%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HDFC Retirement Fund - Hybrid-Debt Plan and HDFC Retirement Fund - Hybrid-Equity Plan overlap?
30.5%. They hold 34 of the same securities, the largest shared ones being ICICIBANK, RELIANCE, HDFCBANK. From each fund's latest monthly portfolio.
Which is riskier, HDFC Retirement Fund - Hybrid-Debt Plan or HDFC Retirement Fund - Hybrid-Equity Plan?
On SEBI's riskometer, HDFC Retirement Fund - Hybrid-Debt Plan is rated Moderately High and HDFC Retirement Fund - Hybrid-Equity Plan Very High. Over 3 years, the standard deviation of daily returns was 3.56% and 9.45% a year.
Which is better for SIP, HDFC Retirement Fund - Hybrid-Debt Plan or HDFC Retirement Fund - Hybrid-Equity Plan?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,05,530 in HDFC Retirement Fund - Hybrid-Debt Plan (XIRR 5.7% a year) and ₹7,17,725 in HDFC Retirement Fund - Hybrid-Equity Plan (XIRR 6.3% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both HDFC Retirement Fund - Hybrid-Debt Plan and HDFC Retirement Fund - Hybrid-Equity Plan?
Yes. 30.5% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages HDFC Retirement Fund - Hybrid-Debt Plan and HDFC Retirement Fund - Hybrid-Equity Plan?
HDFC Retirement Fund - Hybrid-Debt Plan: Anupam Joshi, Arun Agarwal, Nandita Menezes, Chirag Setalvad, Gopal Agrawal. HDFC Retirement Fund - Hybrid-Equity Plan: Anupam Joshi, Arun Agarwal, Nandita Menezes, Chirag Setalvad, Gopal Agrawal.
Sources: NAV and expense ratio from AMFI. Holdings from each fund house's monthly portfolio statement. Fund facts from each scheme summary document.
This page is information, not investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Past returns do not promise future returns. Figures come from AMFI, NSE, BSE and each fund house's own documents.