HSBC Aggressive Hybrid Fund vs HSBC Multi Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
HSBC Aggressive Hybrid Fund is an Aggressive Hybrid fund and HSBC Multi Cap Fund is a Multi Cap fund. In the 3 years to 30-10-2026, HSBC Aggressive Hybrid Fund (Direct) returned 12.8% a year and HSBC Multi Cap Fund (Direct) returned 16.4% a year. HSBC Aggressive Hybrid Fund charges 0.98% a year and HSBC Multi Cap Fund 0.80% (Direct plans). Their portfolios overlap 33.0%: they hold 36 of the same securities.
HSBC Aggressive Hybrid Fund
Aggressive Hybrid
- 3 year return
- 12.8%
- Expense ratio
- 0.98%
- NAV
- ₹65.67
Which is better, HSBC Aggressive Hybrid or HSBC Multi Cap? 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 Cap returned more over 3 years: 16.4% a year against 12.8%.
- HSBC Aggressive Hybrid returned more over 1 year: 0.1% against −0.1%.
- HSBC Multi Cap costs less: 0.80% a year against 0.98% (Direct plans).
- HSBC Aggressive Hybrid swung less over 3 years: a standard deviation of 13.5% a year against 16.2%.
- HSBC Aggressive Hybrid fell less in its worst fall since 03-02-2023: −19.6% against −20.1%.
- HSBC Multi Cap is the larger fund: ₹6,380 Cr against ₹5,652 Cr.
- Their portfolios overlap 33.0%: 36 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 Cap Fund |
|---|---|---|
| Fund house | HSBC Mutual Fund | HSBC Mutual Fund |
| Category | Aggressive Hybrid | Multi Cap |
| AUM | ₹5,652 Cr (30-09-2026) | ₹6,380 Cr (30-09-2026) |
| NAV | ₹65.67 (Direct) | ₹19.86 (Direct) |
| Expense ratio (Direct) | 0.98% | 0.80% |
| Expense ratio (Regular) | 1.99% | 2.04% |
| Riskometer | Very High | Very High |
| Benchmark | NIFTY 50 Hybrid Composite Debt 65:35 Index | NIFTY 500 Multicap 50:25:25 Total Return Index |
| Launch date | 07-02-2011 | 30-01-2023 |
| Minimum investment | ₹5,000 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Gautam Bhupal, Shriram Ramanathan, Mohd. Asif Rizwi, Mayank Chaturvedi, Dipan S. Parikh | Venugopal Manghat, Mahesh Chhabria, Mayank Chaturvedi, Dipan S. Parikh |
| 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 Cap: 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 Cap Fund (Direct) | −3.78% | −3.51% | +0.87% | −0.09% | +16.40% | -- | -- |
| Aggressive Hybrid average | −0.88% | −3.67% | −0.27% | −3.33% | +10.77% | -- | -- |
| Multi Cap average | −2.65% | −3.95% | +1.99% | −1.14% | +13.54% | -- | -- |
Category average: the average of the 29 Aggressive Hybrid funds and the 33 Multi Cap funds, same plan type.
HSBC Aggressive Hybrid vs HSBC Multi Cap: Year-wise Returns
| Year | Aggressive HybridHSBC Aggressive Hybrid | Multi CapHSBC Multi Cap |
|---|---|---|
| 2026to date | +1.78% | +0.60% |
| 2025 | +2.49% | +2.42% |
| 2024 | +23.98% | +30.28% |
| 2023 | +25.59% | -- |
HSBC Aggressive Hybrid vs HSBC Multi Cap: Rolling Returns
Every holding period of both funds, against Nifty500 Multicap 50:25:25 TRI, the benchmark of HSBC Multi Cap Fund
Rolling returns
Every 3-year holding period, 182 of them, one for each trading day from 03-02-2026 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 Cap Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
to
Feb 2026Apr 2023
to
Apr 2026May 2023
to
May 2026Jul 2023
to
Jul 2026Aug 2023
to
Aug 2026Oct 2023
to
Oct 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HSBC Aggressive Hybrid | 0.0 | 0.0 | 0.0 | 61.5 | 38.5 | 0.0 | 0.0 | 14.7% | 14.7% | 11.5% | 17.3% | 28% |
| HSBC Multi Cap | 0.0 | 0.0 | 0.0 | 0.0 | 23.6 | 70.9 | 5.5 | 21.3% | 21.4% | 15.1% | 25.4% | 100% |
| Nifty500 Multicap 50:25:25 TRI | 0.0 | 0.0 | 0.0 | 40.1 | 58.2 | 1.6 | 0.0 | 15.6% | 15.7% | 10.1% | 20.1% | -- |
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. The benchmark is Nifty500 Multicap 50:25:25 TRI, over the same periods. "Beat benchmark" counts the periods in which the fund did better. Every fund is measured over the days all of them have, from 03-02-2023. Past returns do not promise future returns.
HSBC Aggressive Hybrid vs HSBC Multi Cap: 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 01-02-2023 to 30-10-2026: 45 instalments, ₹4,50,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HSBC Aggressive HybridHSBC Aggressive Hybrid Fund (Direct) | ₹4,50,000 | ₹5,33,582 | ₹83,582 | 9.1% |
| HSBC Multi CapHSBC Multi Cap Fund (Direct) | ₹4,50,000 | ₹5,55,886 | ₹1,05,886 | 11.3% |
HSBC Aggressive HybridHSBC Aggressive Hybrid Fund (Direct)
HSBC Multi CapHSBC Multi Cap 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 Cap: 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 Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +0.09% | −0.09% |
| Standard deviation | 12.48% | 15.62% |
| Sharpe ratio | -0.41 | -0.34 |
| Sortino ratio | -0.56 | -0.46 |
| Maximum drawdown | −10.7% (23-03-2026) | −13.1% (23-03-2026) |
| Beta | -- | 1.00 |
| Alpha | -- | +6.01% |
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 Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.82% | +16.40% |
| Standard deviation | 13.55% | 16.17% |
| Sharpe ratio | 0.50 | 0.64 |
| Sortino ratio | 0.67 | 0.87 |
| Maximum drawdown | −19.6% (28-02-2025) | −20.1% (28-02-2025) |
| Beta | -- | 1.04 |
| Alpha | -- | +4.92% |
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 | HSBC Aggressive Hybrid Fund (Direct) | HSBC Multi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.67% | +20.09% |
| Standard deviation | 12.44% | 15.03% |
| Sharpe ratio | 0.52 | 0.93 |
| Sortino ratio | 0.70 | 1.26 |
| Maximum drawdown | −19.6% (28-02-2025) | −20.1% (28-02-2025) |
| Beta | -- | 1.03 |
| Alpha | -- | +5.75% |
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 Cap Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
| 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 Cap Fund (Direct) | −20.1% | 16-12-2024 | 28-02-2025 | 06-05-2026 | 14 months | −8.3% |
| Nifty500 Multicap 50:25:25 TRI | −19.8% | 26-09-2024 | 03-03-2025 | 03-08-2026 | 17 months | −8.0% |
From daily values since 03-02-2023, 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 Cap Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
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.
HSBC Aggressive Hybrid Fund (Direct)
HSBC Multi Cap Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
Against Nifty500 Multicap 50:25:25 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| HSBC Aggressive Hybrid Fund (Direct) | 85% | 74% | 5.72% |
| HSBC Multi Cap Fund (Direct) | 115% | 95% | 4.84% |
From month-end values since 03-02-2023. Up capture: a fund's average month when the benchmark rose, as % of the benchmark's; above 100% it gained more. Down capture: the same for months the benchmark fell; below 100% it fell less. Tracking error: how far the monthly returns strayed from the benchmark's, a year; an index fund aims near 0.
HSBC Aggressive Hybrid vs HSBC Multi Cap: Portfolio Overlap
From each fund's latest monthly portfolio: HSBC Aggressive Hybrid Fund, September 2026; HSBC Multi Cap Fund, September 2026
Holdings in common
- Overlap
- 33.0%
- Held by both
- 36
- Only in HSBC Aggressive Hybrid
- 61
- Only in HSBC Multi Cap
- 64
| Security | % of HSBC Aggressive Hybrid | % of HSBC Multi Cap |
|---|---|---|
| HDFC Bank Limited | 3.16% | 2.85% |
| Radico Khaitan Limited | 2.55% | 2.31% |
| ICICI Bank Limited | 4.40% | 2.13% |
| TD Power Systems Limited | 1.48% | 3.10% |
| GE Vernova T&D India Limited | 3.49% | 1.44% |
| Eternal Limited | 2.69% | 1.41% |
| Lenskart Solutions Limited | 1.43% | 1.38% |
| Multi Commodity Exchange of India Ltd. | 1.29% | 1.39% |
| Karur Vysya Bank Limited | 2.73% | 1.28% |
| Bharti Airtel Limited | 1.44% | 1.16% |
| Hindustan Aeronautics Limited | 1.13% | 1.04% |
| Nippon Life India Asset Management Ltd | 1.41% | 1.03% |
| Divi''s Laboratories Limited | 1.01% | 1.48% |
| Sai Life Sciences Ltd. | 0.99% | 2.11% |
| FSN E-Commerce Ventures Limited | 1.30% | 0.85% |
| RBL Bank Limited | 1.29% | 0.83% |
| Thyrocare Technologies Limited | 0.92% | 0.75% |
| Max Healthcare Institute Limited | 0.72% | 1.11% |
| Billionbrains Garage Ventures Ltd. | 1.68% | 0.68% |
| Cholamandalam Invest & Finance Co Ltd | 1.46% | 0.63% |
| Maruti Suzuki India Limited | 1.51% | 0.59% |
| Motilal Oswal Financial Services Limited | 1.43% | 0.59% |
| PTC INDUSTRIES LIMITED | 1.55% | 0.58% |
| VIJAYA DIAGNOSTIC CENTRE LIMITED | 0.57% | 0.84% |
| CG Power And Industrial Solutions Ltd | 2.67% | 0.56% |
| Larsen & Toubro Limited | 0.55% | 1.51% |
| Aditya Infotech Limited | 0.54% | 0.52% |
| Hero MotoCorp Limited | 0.52% | 1.37% |
| Mahindra & Mahindra Limited | 1.24% | 0.51% |
| Mtar Technologies Limited | 0.48% | 0.86% |
| KEI Industries Limited | 1.48% | 0.45% |
| HDFC Asset Management Company Limited | 0.40% | 0.47% |
| APAR INDUSTRIES LTD | 0.39% | 2.39% |
| Bajaj Finance Limited | 0.96% | 0.38% |
| Tata Motors Limited | 0.34% | 1.81% |
| CCL Products (India) Limited | 0.29% | 0.98% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 33.0% means 33.0% 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 |
|---|---|
| InterGlobe Aviation Limited | 2.16% |
| Bharat Electronics Limited | 1.93% |
| ICICI Prudential AMC Ltd | 1.80% |
| Dhoot Transmission Limited | 1.43% |
| HDFC Bank Limited | 1.29% |
Largest holdings only in HSBC Multi Cap Fund
| Security | % of fund |
|---|---|
| The Federal Bank Limited | 2.33% |
| Engineers India Limited | 2.27% |
| Navin Fluorine International Limited | 1.89% |
| Reliance Industries Limited | 1.87% |
| State Bank of India | 1.80% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HSBC Aggressive Hybrid | HSBC Multi Cap |
|---|---|---|
| Equity | 74.6% | 97.5% |
| Debt | 20.3% | 0.0% |
| Cash and others | 5.1% | 2.5% |
Market cap of stocks
| Market cap | HSBC Aggressive Hybrid | HSBC Multi Cap |
|---|---|---|
| Large Cap | 32.5% | 36.1% |
| Mid Cap | 19.9% | 25.9% |
| Small Cap | 18.4% | 31.1% |
| Not on AMFI's list | 3.8% | 4.5% |
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 Cap |
|---|---|---|
| Banks | 12.8% | 13.7% |
| Electrical Equipment | 9.2% | 11.0% |
| Capital Markets | 10.0% | 4.5% |
| Pharmaceuticals & Biotechnology | 4.0% | 8.6% |
| Industrial Products | 4.8% | 7.4% |
| Retailing | 6.4% | 4.0% |
| Automobiles | 3.3% | 4.5% |
The six largest sectors of each fund's stocks, % of the fund.
HSBC Aggressive Hybrid vs HSBC Multi Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HSBC Aggressive Hybrid Fund | HSBC Multi Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.98% | 0.80% |
| Base expense ratio (Direct) | 0.73% | 0.52% |
| Total expense ratio (Regular) | 1.99% | 2.04% |
| Base expense ratio (Regular) | 1.59% | 1.57% |
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
HSBC Aggressive Hybrid Fund vs HSBC Multi Cap Fund: Frequently Asked Questions
What is the difference between HSBC Aggressive Hybrid Fund and HSBC Multi Cap Fund?
HSBC Aggressive Hybrid Fund is an Aggressive Hybrid fund, HSBC Multi Cap Fund is a Multi Cap fund, run by HSBC Mutual Fund. Their portfolios overlap 33.0%. HSBC Aggressive Hybrid Fund charges 0.98% a year and HSBC Multi Cap Fund 0.80%.
Which has given higher returns, HSBC Aggressive Hybrid Fund or HSBC Multi Cap Fund?
Over 1 year: HSBC Aggressive Hybrid Fund +0.09%, HSBC Multi Cap Fund −0.09%. Over 3 years: HSBC Aggressive Hybrid Fund +12.82% a year, HSBC Multi Cap Fund +16.40% a year. 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 Cap Fund?
HSBC Multi Cap Fund charges less: 0.80% 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 Cap Fund overlap?
33.0%. They hold 36 of the same securities, the largest shared ones being HDFCBANK, RADICO, ICICIBANK. From each fund's latest monthly portfolio.
Which is riskier, HSBC Aggressive Hybrid Fund or HSBC Multi Cap Fund?
On SEBI's riskometer, HSBC Aggressive Hybrid Fund is rated Very High and HSBC Multi Cap Fund Very High. Over 3 years, the standard deviation of daily returns was 13.55% and 16.17% a year.
Which is better for SIP, HSBC Aggressive Hybrid Fund or HSBC Multi Cap Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹4,09,880 in HSBC Aggressive Hybrid Fund (XIRR 6.6% a year) and ₹4,09,644 in HSBC Multi Cap Fund (XIRR 6.6% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both HSBC Aggressive Hybrid Fund and HSBC Multi Cap Fund?
Yes. 33.0% 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 Cap Fund?
HSBC Aggressive Hybrid Fund: Gautam Bhupal, Shriram Ramanathan, Mohd. Asif Rizwi, Mayank Chaturvedi, Dipan S. Parikh. HSBC Multi Cap Fund: Venugopal Manghat, Mahesh Chhabria, Mayank Chaturvedi, Dipan S. Parikh.
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.