HSBC Banking and PSU Debt Fund vs Kotak Short Term Fund
Direct Plan, Growth option · Data as on 30-10-2026
HSBC Banking and PSU Debt Fund is a Banking & PSU fund and Kotak Short Term Fund is a Short Duration fund. In the 3 years to 30-10-2026, HSBC Banking and PSU Debt Fund (Direct) returned 6.7% a year and Kotak Short Term Fund (Direct) returned 7.2% a year. HSBC Banking and PSU Debt Fund charges 0.28% a year and Kotak Short Term Fund 0.38% (Direct plans). Their portfolios overlap 16.6%: they hold 19 of the same securities.
HSBC Banking and PSU Debt Fund
Banking & PSU
- 3 year return
- 6.7%
- Expense ratio
- 0.28%
- NAV
- ₹27.14
Kotak Short Term Fund
Short Duration
- 3 year return
- 7.2%
- Expense ratio
- 0.38%
- NAV
- ₹61.26
Which is better, HSBC Banking and PSU Debt or Kotak Short Term? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Kotak Short Term returned more over 3 years: 7.2% a year against 6.7%.
- Kotak Short Term returned more over 1 year: 4.3% against 3.8%.
- HSBC Banking and PSU Debt costs less: 0.28% a year against 0.38% (Direct plans).
- Kotak Short Term swung less over 3 years: a standard deviation of 1.0% a year against 1.0%.
- Kotak Short Term fell less in its worst fall since 28-11-2022: −0.5% against −0.7%.
- Kotak Short Term is the larger fund: ₹14,241 Cr against ₹3,722 Cr.
- Their portfolios overlap 16.6%: 19 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 Banking and PSU Debt Fund | Kotak Short Term Fund |
|---|---|---|
| Fund house | HSBC Mutual Fund | Kotak Mahindra Mutual Fund |
| Category | Banking & PSU | Short Duration |
| AUM | ₹3,722 Cr (30-09-2026) | ₹14,241 Cr (30-09-2026) |
| NAV | ₹27.14 (Direct) | ₹61.26 (Direct) |
| Expense ratio (Direct) | 0.28% | 0.38% |
| Expense ratio (Regular) | 0.61% | 1.12% |
| Riskometer | Moderate | Moderate |
| Benchmark | NIFTY Banking & PSU Debt Index A-II | NIFTY Short Duration Debt Index A-II |
| Launch date | 20-09-2007 | 02-05-2002 |
| Minimum investment | ₹5,000 | ₹100 |
| Lock in | None | None |
| Fund managers | Mahesh Chhabria, Mohd. Asif Rizwi | Deepak Agrawal, Abhishek Bisen |
| Exit load | Nil | Nil |
HSBC Banking and PSU Debt vs Kotak Short Term: 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 Banking and PSU Debt Fund (Direct) | −0.24% | −0.04% | +2.24% | +3.81% | +6.70% | -- | -- |
| Kotak Short Term Fund (Direct) | −0.17% | +0.25% | +2.38% | +4.35% | +7.23% | +6.35% | +7.16% |
| Banking & PSU average | −0.21% | +0.14% | +2.36% | +4.04% | +6.88% | -- | -- |
| Short Duration average | −0.14% | +0.30% | +2.50% | +4.11% | +6.88% | +6.62% | +6.89% |
Category average: the average of the 19 Banking & PSU funds and the 25 Short Duration funds, same plan type.
HSBC Banking and PSU Debt vs Kotak Short Term: Year-wise Returns
| Year | HSBC Banking and PSU DebtHSBC Banking and PSU Debt | Kotak Short TermKotak Short Term |
|---|---|---|
| 2026to date | +3.10% | +3.54% |
| 2025 | +7.90% | +8.09% |
| 2024 | +7.68% | +8.56% |
| 2023 | +6.90% | +7.31% |
| 2022 | -- | +3.85% |
| 2021 | -- | +4.13% |
HSBC Banking and PSU Debt vs Kotak Short Term: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 222 of them, one for each trading day from 28-11-2025 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 Banking and PSU Debt Fund (Direct)
Kotak Short Term Fund (Direct)
to
Dec 2025Feb 2023
to
Feb 2026Apr 2023
to
Apr 2026Jun 2023
to
Jun 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HSBC Banking and PSU Debt | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7.1% | 7.1% | 6.6% | 7.6% |
| Kotak Short Term | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7.7% | 7.6% | 7.1% | 8.1% |
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. Every fund is measured over the days all of them have, from 28-11-2022. Past returns do not promise future returns.
HSBC Banking and PSU Debt vs Kotak Short Term: 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 28-11-2022 to 30-10-2026: 48 instalments, ₹4,80,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HSBC Banking and PSU DebtHSBC Banking and PSU Debt Fund (Direct) | ₹4,80,000 | ₹5,43,226 | ₹63,226 | 6.1% |
| Kotak Short TermKotak Short Term Fund (Direct) | ₹4,80,000 | ₹5,48,466 | ₹68,466 | 6.6% |
HSBC Banking and PSU DebtHSBC Banking and PSU Debt Fund (Direct)
Kotak Short TermKotak Short Term 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 Banking and PSU Debt vs Kotak Short Term: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HSBC Banking and PSU Debt Fund (Direct) | Kotak Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +3.81% | +4.35% |
| Standard deviation | 1.32% | 1.13% |
| Sharpe ratio | -1.08 | -0.79 |
| Sortino ratio | -1.48 | -1.09 |
| Maximum drawdown | −0.7% (23-10-2026) | −0.5% (21-05-2026) |
| 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 Banking and PSU Debt Fund (Direct) | Kotak Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.70% | +7.23% |
| Standard deviation | 1.00% | 0.95% |
| Sharpe ratio | 0.67 | 1.27 |
| Sortino ratio | 1.00 | 1.93 |
| Maximum drawdown | −0.7% (23-10-2026) | −0.5% (21-05-2026) |
| 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 | HSBC Banking and PSU Debt Fund (Direct) | Kotak Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.62% | +7.81% |
| Standard deviation | 0.97% | 1.43% |
| Sharpe ratio | 0.45 | 1.23 |
| Sortino ratio | 0.67 | 1.80 |
| Maximum drawdown | −0.7% (23-10-2026) | −3.0% (19-08-2013) |
| 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 Banking and PSU Debt Fund (Direct)
Kotak Short Term Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HSBC Banking and PSU Debt Fund (Direct) | −0.7% | 14-08-2026 | 23-10-2026 | Not yet | -- | −0.5% |
| Kotak Short Term Fund (Direct) | −0.5% | 08-05-2026 | 21-05-2026 | 05-06-2026 | 15 days | −0.3% |
From daily values since 28-11-2022, 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 Banking and PSU Debt Fund (Direct)
Kotak Short Term Fund (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.
HSBC Banking and PSU Debt Fund (Direct)
Kotak Short Term Fund (Direct)
HSBC Banking and PSU Debt vs Kotak Short Term: Portfolio Overlap
From each fund's latest monthly portfolio: HSBC Banking and PSU Debt Fund, September 2026; Kotak Short Term Fund, September 2026
Holdings in common
- Overlap
- 16.6%
- Held by both
- 19
- Only in HSBC Banking and PSU Debt
- 53
- Only in Kotak Short Term
- 73
| Security | % of HSBC Banking and PSU Debt | % of Kotak Short Term |
|---|---|---|
| NABARD | 3.08% | 2.72% |
| Bharti Telecom Limited | 2.76% | 1.89% |
| Housing and Urban Development Corp. Ltd. | 2.01% | 1.73% |
| SIDBI | 1.42% | 2.13% |
| Shivshakti Securitisation Trust | 2.18% | 1.07% |
| LIC Housing Finance Limited | 1.44% | 1.05% |
| Siddhivinayak Securitisation Trust | 1.03% | 1.07% |
| Tata Capital Ltd | 1.38% | 0.70% |
| NABARD | 0.70% | 2.66% |
| Canara Bank | 1.31% | 0.69% |
| Mahindra & Mahindra Financial Serv Ltd. | 0.69% | 0.70% |
| REC Limited | 0.69% | 0.69% |
| Bank of Baroda | 0.66% | 0.51% |
| REC Limited | 1.08% | 0.45% |
| Corp Debt Mkt Devlop Fund (SBI AIF Fund) | 0.38% | 0.37% |
| SIDBI | 1.10% | 0.35% |
| SIDBI | 0.27% | 1.04% |
| NABARD | 0.68% | 0.17% |
| REC Limited | 0.14% | 1.05% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 16.6% means 16.6% 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 Banking and PSU Debt Fund
| Security | % of fund |
|---|---|
| EXIM Bank | 3.51% |
| 6.94% GOI 11-May-2036 | 3.39% |
| Indian Railway Finance Corporation Ltd | 2.94% |
| EXIM Bank | 2.80% |
| Housing and Urban Development Corp. Ltd. | 2.69% |
Largest holdings only in Kotak Short Term Fund
| Security | % of fund |
|---|---|
| NATIONAL BANK FOR AGRICULTURE & RURAL DEVELOPMENT | 4.23% |
| LIC HOUSING FINANCE LTD. | 3.47% |
| Power Finance Corporation Ltd.(^) | 3.33% |
| MINDSPACE BUSINESS PARKS REIT | 2.83% |
| SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA | 2.78% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HSBC Banking and PSU Debt | Kotak Short Term |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 95.3% | 91.9% |
| Cash and others | 4.7% | 8.1% |
HSBC Banking and PSU Debt vs Kotak Short Term: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HSBC Banking and PSU Debt Fund | Kotak Short Term Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.28% | 0.38% |
| Base expense ratio (Direct) | 0.23% | 0.33% |
| Total expense ratio (Regular) | 0.61% | 1.12% |
| Base expense ratio (Regular) | 0.51% | 0.95% |
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 Banking and PSU Debt with
HSBC Banking and PSU Debt Fund vs Kotak Short Term Fund: Frequently Asked Questions
What is the difference between HSBC Banking and PSU Debt Fund and Kotak Short Term Fund?
HSBC Banking and PSU Debt Fund is a Banking & PSU fund, Kotak Short Term Fund is a Short Duration fund, run by HSBC Mutual Fund and Kotak Mahindra Mutual Fund. Their portfolios overlap 16.6%. HSBC Banking and PSU Debt Fund charges 0.28% a year and Kotak Short Term Fund 0.38%.
Which has given higher returns, HSBC Banking and PSU Debt Fund or Kotak Short Term Fund?
Over 1 year: HSBC Banking and PSU Debt Fund +3.81%, Kotak Short Term Fund +4.35%. Over 3 years: HSBC Banking and PSU Debt Fund +6.70% a year, Kotak Short Term Fund +7.23% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HSBC Banking and PSU Debt Fund or Kotak Short Term Fund?
HSBC Banking and PSU Debt Fund charges less: 0.28% a year against 0.38%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HSBC Banking and PSU Debt Fund and Kotak Short Term Fund overlap?
16.6%. They hold 19 of the same securities, the largest shared ones being NABARD, Bharti Telecom Limited, Housing and Urban Development Corp. Ltd.. From each fund's latest monthly portfolio.
Which is riskier, HSBC Banking and PSU Debt Fund or Kotak Short Term Fund?
On SEBI's riskometer, HSBC Banking and PSU Debt Fund is rated Moderate and Kotak Short Term Fund Moderate. Over 3 years, the standard deviation of daily returns was 1.00% and 0.95% a year.
Which is better for SIP, HSBC Banking and PSU Debt Fund or Kotak Short Term Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹4,04,931 in HSBC Banking and PSU Debt Fund (XIRR 5.8% a year) and ₹4,07,648 in Kotak Short Term Fund (XIRR 6.2% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both HSBC Banking and PSU Debt Fund and Kotak Short Term Fund?
Yes. 16.6% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages HSBC Banking and PSU Debt Fund and Kotak Short Term Fund?
HSBC Banking and PSU Debt Fund: Mahesh Chhabria, Mohd. Asif Rizwi. Kotak Short Term Fund: Deepak Agrawal, Abhishek Bisen.
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.