HSBC Aggressive Hybrid Fund vs HSBC Multi Asset Allocation Fund
Direct Plan, Growth option · Data as on 30-10-2026
HSBC Aggressive Hybrid Fund is an Aggressive Hybrid fund and HSBC Multi Asset Allocation Fund is a Multi Asset fund. In the year to 30-10-2026, HSBC Aggressive Hybrid Fund (Direct) returned 0.1% and HSBC Multi Asset Allocation Fund (Direct) returned 4.7%. HSBC Aggressive Hybrid Fund charges 0.98% a year and HSBC Multi Asset Allocation Fund 0.96% (Direct plans). Their portfolios overlap 27.2%: they hold 31 of the same securities.
HSBC Aggressive Hybrid Fund
Aggressive Hybrid
- 1 year return
- 0.1%
- Expense ratio
- 0.98%
- NAV
- ₹65.67
HSBC Multi Asset Allocation Fund
Multi Asset
- 1 year return
- 4.7%
- Expense ratio
- 0.96%
- NAV
- ₹13.76
Which is better, HSBC Aggressive Hybrid or HSBC Multi Asset Allocation? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HSBC Multi Asset Allocation returned more over 1 year: 4.7% against 0.1%.
- HSBC Multi Asset Allocation costs less: 0.96% a year against 0.98% (Direct plans).
- HSBC Multi Asset Allocation fell less in its worst fall since 01-03-2024: −18.7% against −19.6%.
- HSBC Aggressive Hybrid is the larger fund: ₹5,652 Cr against ₹3,141 Cr.
- Their portfolios overlap 27.2%: 31 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 | HSBC Aggressive Hybrid Fund | HSBC Multi Asset Allocation Fund |
|---|---|---|
| Fund house | HSBC Mutual Fund | HSBC Mutual Fund |
| Category | Aggressive Hybrid | Multi Asset |
| AUM | ₹5,652 Cr (30-09-2026) | ₹3,141 Cr (30-09-2026) |
| NAV | ₹65.67 (Direct) | ₹13.76 (Direct) |
| Expense ratio (Direct) | 0.98% | 0.96% |
| Expense ratio (Regular) | 1.99% | 2.26% |
| Riskometer | Very High | Very High |
| Benchmark | NIFTY 50 Hybrid Composite Debt 65:35 Index | BSE 200 TRI 65% + NIFTY Short Duration Debt Index 20% +Domestic Price of Gold (10%)+Domestic Price of Silver 5% |
| Launch date | 07-02-2011 | 28-02-2024 |
| Minimum investment | ₹5,000 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Gautam Bhupal, Shriram Ramanathan, Mohd. Asif Rizwi, Mayank Chaturvedi, Dipan S. Parikh | Cheenu Gupta, Mahesh Chhabria, Mohd. Asif Rizwi, Dipan Parikh, Mayank Chaturvedi, Praveen Ayathan |
| Exit load | Exit load of 1% if units in excess of 10% are redeemed or switched-out within 1 year | Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 1 year. |
HSBC Aggressive Hybrid vs HSBC Multi Asset Allocation: 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 |
|---|---|---|---|---|---|---|---|
| HSBC Aggressive Hybrid Fund (Direct) | −2.00% | −1.75% | +3.01% | +0.09% | +12.82% | -- | -- |
| HSBC Multi Asset Allocation Fund (Direct) | −1.17% | −2.66% | −0.56% | +4.70% | -- | -- | -- |
| Aggressive Hybrid average | −0.88% | −3.67% | −0.27% | −3.33% | +10.77% | -- | -- |
| Multi Asset average | −1.71% | −3.33% | −1.78% | +2.00% | -- | -- | -- |
Category average: the average of the 29 Aggressive Hybrid funds and the 37 Multi Asset funds, same plan type.
HSBC Aggressive Hybrid vs HSBC Multi Asset Allocation: Year-wise Returns
| Year | Aggressive HybridHSBC Aggressive Hybrid | Multi Asset AllocationHSBC Multi Asset Allocation |
|---|---|---|
| 2026to date | +1.78% | +1.96% |
| 2025 | +2.49% | +9.81% |
| 2024 | +23.98% | -- |
| 2023 | +25.59% | -- |
HSBC Aggressive Hybrid vs HSBC Multi Asset Allocation: Rolling Returns
Every holding period of both funds
Rolling returns
Every 1-year holding period, 409 of them, one for each trading day from 03-03-2025 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.
HSBC Aggressive Hybrid Fund (Direct)
HSBC Multi Asset Allocation Fund (Direct)
to
Apr 2025Aug 2024
to
Aug 2025Nov 2024
to
Nov 2025Feb 2025
to
Feb 2026Jun 2025
to
Jun 2026Sept 2025
to
Sept 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HSBC Aggressive Hybrid | 4.9 | 40.1 | 41.1 | 8.6 | 5.1 | 0.2 | 0.0 | 6.1% | 5.5% | −2.8% | 20.4% |
| HSBC Multi Asset Allocation | 0.7 | 18.1 | 28.9 | 12.0 | 19.8 | 11.5 | 9.0 | 12.9% | 10.7% | −1.2% | 37.0% |
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 01-03-2024. Past returns do not promise future returns.
HSBC Aggressive Hybrid vs HSBC Multi Asset Allocation: 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 01-03-2024 to 30-10-2026: 32 instalments, ₹3,20,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HSBC Aggressive HybridHSBC Aggressive Hybrid Fund (Direct) | ₹3,20,000 | ₹3,42,229 | ₹22,229 | 5.0% |
| HSBC Multi Asset AllocationHSBC Multi Asset Allocation Fund (Direct) | ₹3,20,000 | ₹3,59,652 | ₹39,652 | 8.7% |
HSBC Aggressive HybridHSBC Aggressive Hybrid Fund (Direct)
HSBC Multi Asset AllocationHSBC Multi Asset Allocation Fund (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.
HSBC Aggressive Hybrid vs HSBC Multi Asset Allocation: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HSBC Aggressive Hybrid Fund (Direct) | HSBC Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +0.09% | +4.70% |
| Standard deviation | 12.48% | 13.60% |
| Sharpe ratio | -0.41 | -0.04 |
| Sortino ratio | -0.56 | -0.05 |
| Maximum drawdown | −10.7% (23-03-2026) | −11.8% (23-03-2026) |
| 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 | HSBC Aggressive Hybrid Fund (Direct) | HSBC Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.67% | +12.63% |
| Standard deviation | 12.44% | 14.03% |
| Sharpe ratio | 0.52 | 0.48 |
| Sortino ratio | 0.70 | 0.63 |
| Maximum drawdown | −19.6% (28-02-2025) | −18.7% (28-02-2025) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 28-11-2022 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.
HSBC Aggressive Hybrid Fund (Direct)
HSBC Multi Asset Allocation Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HSBC Aggressive Hybrid Fund (Direct) | −19.6% | 16-12-2024 | 28-02-2025 | 17-09-2025 | 7 months | −5.6% |
| HSBC Multi Asset Allocation Fund (Direct) | −18.7% | 17-12-2024 | 28-02-2025 | 10-09-2025 | 6 months | −6.4% |
From daily values since 01-03-2024, 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.
HSBC Aggressive Hybrid Fund (Direct)
HSBC Multi Asset Allocation Fund (Direct)
HSBC Aggressive Hybrid vs HSBC Multi Asset Allocation: Portfolio Overlap
From each fund's latest monthly portfolio: HSBC Aggressive Hybrid Fund, September 2026; HSBC Multi Asset Allocation Fund, September 2026
Holdings in common
- Overlap
- 27.2%
- Held by both
- 31
- Only in HSBC Aggressive Hybrid
- 66
- Only in HSBC Multi Asset Allocation
- 53
| Security | % of HSBC Aggressive Hybrid | % of HSBC Multi Asset Allocation |
|---|---|---|
| ICICI Bank Limited | 4.40% | 7.89% |
| HDFC Bank Limited | 3.16% | 5.06% |
| GE Vernova T&D India Limited | 3.49% | 2.40% |
| ICICI Prudential AMC Ltd | 1.80% | 2.11% |
| Lenskart Solutions Limited | 1.43% | 4.51% |
| Dhoot Transmission Limited | 1.43% | 1.40% |
| FSN E-Commerce Ventures Limited | 1.30% | 1.72% |
| CG Power And Industrial Solutions Ltd | 2.67% | 1.16% |
| Billionbrains Garage Ventures Ltd. | 1.68% | 1.04% |
| Nippon Life India Asset Management Ltd | 1.41% | 0.93% |
| NABARD | 0.89% | 1.60% |
| InterGlobe Aviation Limited | 2.16% | 0.81% |
| Mahindra & Mahindra Limited | 1.24% | 0.74% |
| Sun Pharmaceutical Industries Limited | 0.77% | 0.65% |
| Liquid Gold Series 24 | 0.88% | 0.63% |
| PB Fintech Limited | 0.63% | 1.87% |
| Meesho Limited | 0.60% | 3.25% |
| Aditya Infotech Limited | 0.54% | 2.67% |
| REC Limited | 0.46% | 0.83% |
| ICICI Bank Limited | 0.43% | 0.62% |
| TITAGARH RAIL SYSTEMS LIMITED | 0.42% | 1.54% |
| HDFC Asset Management Company Limited | 0.40% | 1.54% |
| APAR INDUSTRIES LTD | 0.39% | 1.68% |
| 6.48% GOI 06Oct2035 | 0.26% | 1.02% |
| Divi''s Laboratories Limited | 1.01% | 0.17% |
| Multi Commodity Exchange of India Ltd. | 1.29% | 0.05% |
| Axis Bank Limited | 1.24% | 0.04% |
| Bharti Airtel Limited | 1.44% | 0.03% |
| Max Healthcare Institute Limited | 0.72% | 0.03% |
| Larsen & Toubro Limited | 0.55% | 0.02% |
| Bharat Electronics Limited | 1.93% | 0.01% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 27.2% means 27.2% 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 HSBC Aggressive Hybrid Fund
| Security | % of fund |
|---|---|
| Karur Vysya Bank Limited | 2.73% |
| Eternal Limited | 2.69% |
| Radico Khaitan Limited | 2.55% |
| PTC INDUSTRIES LIMITED | 1.55% |
| Maruti Suzuki India Limited | 1.51% |
Largest holdings only in HSBC Multi Asset Allocation Fund
| Security | % of fund |
|---|---|
| HSBC Mutual Fund | 9.02% |
| The Federal Bank Limited | 3.04% |
| ITC Limited | 2.44% |
| TVS Motor Company Limited | 2.25% |
| Lupin Limited | 2.04% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HSBC Aggressive Hybrid | HSBC Multi Asset Allocation |
|---|---|---|
| Equity | 74.6% | 74.5% |
| Debt | 20.3% | 13.6% |
| Cash and others | 5.1% | 11.9% |
Market cap of stocks
| Market cap | HSBC Aggressive Hybrid | HSBC Multi Asset Allocation |
|---|---|---|
| Large Cap | 32.5% | 35.2% |
| Mid Cap | 19.9% | 26.9% |
| Small Cap | 18.4% | 11.0% |
| Not on AMFI's list | 3.8% | 1.4% |
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 | HSBC Aggressive Hybrid | HSBC Multi Asset Allocation |
|---|---|---|
| Banks | 12.8% | 18.1% |
| Capital Markets | 10.0% | 6.4% |
| Retailing | 6.4% | 9.5% |
| Electrical Equipment | 9.2% | 8.1% |
| Pharmaceuticals & Biotechnology | 4.0% | 5.4% |
| Industrial Products | 4.8% | 1.9% |
| Automobiles | 3.3% | 4.3% |
The six largest sectors of each fund's stocks, % of the fund.
HSBC Aggressive Hybrid vs HSBC Multi Asset Allocation: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HSBC Aggressive Hybrid Fund | HSBC Multi Asset Allocation Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.98% | 0.96% |
| Base expense ratio (Direct) | 0.73% | 0.46% |
| Total expense ratio (Regular) | 1.99% | 2.26% |
| Base expense ratio (Regular) | 1.59% | 1.56% |
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.
More comparisons
Each fund against the others of its category
Compare HSBC Aggressive Hybrid with
Compare HSBC Multi Asset Allocation with
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- HSBC Multi Asset Allocation vs WhiteOak Capital Multi Asset Allocation
HSBC Aggressive Hybrid Fund vs HSBC Multi Asset Allocation Fund: Frequently Asked Questions
What is the difference between HSBC Aggressive Hybrid Fund and HSBC Multi Asset Allocation Fund?
HSBC Aggressive Hybrid Fund is an Aggressive Hybrid fund, HSBC Multi Asset Allocation Fund is a Multi Asset fund, run by HSBC Mutual Fund. Their portfolios overlap 27.2%. HSBC Aggressive Hybrid Fund charges 0.98% a year and HSBC Multi Asset Allocation Fund 0.96%.
Which has given higher returns, HSBC Aggressive Hybrid Fund or HSBC Multi Asset Allocation Fund?
Over 1 year: HSBC Aggressive Hybrid Fund +0.09%, HSBC Multi Asset Allocation Fund +4.70%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HSBC Aggressive Hybrid Fund or HSBC Multi Asset Allocation Fund?
HSBC Multi Asset Allocation Fund charges less: 0.96% a year against 0.98%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HSBC Aggressive Hybrid Fund and HSBC Multi Asset Allocation Fund overlap?
27.2%. They hold 31 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, GVT&D. From each fund's latest monthly portfolio.
Which is riskier, HSBC Aggressive Hybrid Fund or HSBC Multi Asset Allocation Fund?
On SEBI's riskometer, HSBC Aggressive Hybrid Fund is rated Very High and HSBC Multi Asset Allocation Fund Very High. Over 1 years, the standard deviation of daily returns was 12.48% and 13.60% a year.
Can I invest in both HSBC Aggressive Hybrid Fund and HSBC Multi Asset Allocation Fund?
Yes. 27.2% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages HSBC Aggressive Hybrid Fund and HSBC Multi Asset Allocation Fund?
HSBC Aggressive Hybrid Fund: Gautam Bhupal, Shriram Ramanathan, Mohd. Asif Rizwi, Mayank Chaturvedi, Dipan S. Parikh. HSBC Multi Asset Allocation Fund: Cheenu Gupta, Mahesh Chhabria, Mohd. Asif Rizwi, Dipan Parikh, Mayank Chaturvedi, Praveen Ayathan.
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.