HSBC Conservative Hybrid Fund vs ITI Banking & PSU Debt Fund
Direct Plan, Growth option · Data as on 30-10-2026
HSBC Conservative Hybrid Fund is a Conservative Hybrid fund and ITI Banking & PSU Debt Fund is a Banking & PSU fund. In the 3 years to 30-10-2026, HSBC Conservative Hybrid Fund (Direct) returned 8.6% a year and ITI Banking & PSU Debt Fund (Direct) returned 6.8% a year. HSBC Conservative Hybrid Fund charges 1.19% a year and ITI Banking & PSU Debt Fund 0.23% (Direct plans). Their portfolios overlap 11.7%: they hold 4 of the same securities.
HSBC Conservative Hybrid Fund
Conservative Hybrid
- 3 year return
- 8.6%
- Expense ratio
- 1.19%
- NAV
- ₹70.22
ITI Banking & PSU Debt Fund
Banking & PSU
- 3 year return
- 6.8%
- Expense ratio
- 0.23%
- NAV
- ₹14.21
Which is better, HSBC Conservative Hybrid or ITI Banking & PSU Debt? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HSBC Conservative Hybrid returned more over 5 years: 7.1% a year against 6.3%.
- HSBC Conservative Hybrid returned more over 3 years: 8.6% a year against 6.8%.
- ITI Banking & PSU Debt costs less: 0.23% a year against 1.19% (Direct plans).
- ITI Banking & PSU Debt swung less over 3 years: a standard deviation of 0.8% a year against 4.8%.
- ITI Banking & PSU Debt fell less in its worst fall since 23-10-2020: −1.1% against −6.1%.
- HSBC Conservative Hybrid is the larger fund: ₹152 Cr against ₹34 Cr.
- Their portfolios overlap 11.7%: 4 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 Conservative Hybrid Fund | ITI Banking & PSU Debt Fund |
|---|---|---|
| Fund house | HSBC Mutual Fund | ITI Mutual Fund |
| Category | Conservative Hybrid | Banking & PSU |
| AUM | ₹152 Cr (30-09-2026) | ₹34 Cr (30-09-2026) |
| NAV | ₹70.22 (Direct) | ₹14.21 (Direct) |
| Expense ratio (Direct) | 1.19% | 0.23% |
| Expense ratio (Regular) | 2.19% | 0.75% |
| Riskometer | Moderately High | Low to Moderate |
| Benchmark | Nifty 50 Hybrid Composite Debt 15:85 Conservative Index | CRISIL Banking and PSU Debt A-II Index |
| Launch date | 24-02-2004 | 22-10-2020 |
| Minimum investment | Rs. 5,000 per application | ₹5,000 |
| Lock in | None | None |
| Fund managers | Mahesh Chhabria, Mohd. Asif Rizwi, Cheenu Gupta, Abhishek Gupta, Mayank Chaturvedi, Dipan S. Parikh | Laukik Bagwe |
| Exit load | Nil | Nil |
HSBC Conservative Hybrid vs ITI Banking & PSU Debt: 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 Conservative Hybrid Fund (Direct) | −0.65% | −2.24% | +0.16% | +0.59% | +8.59% | +7.14% | +7.72% |
| ITI Banking & PSU Debt Fund (Direct) | −0.14% | +0.35% | +1.96% | +4.10% | +6.79% | +6.27% | -- |
| Conservative Hybrid average | −0.46% | −1.48% | +0.87% | +1.02% | +7.61% | +7.13% | +7.52% |
| Banking & PSU average | −0.21% | +0.14% | +2.36% | +4.04% | +6.88% | +6.22% | -- |
Category average: the average of the 18 Conservative Hybrid funds and the 19 Banking & PSU funds, same plan type.
HSBC Conservative Hybrid vs ITI Banking & PSU Debt: Year-wise Returns
| Year | HSBC Conservative HybridHSBC Conservative Hybrid | ITI Banking & PSU DebtITI Banking & PSU Debt |
|---|---|---|
| 2026to date | +2.01% | +3.39% |
| 2025 | +2.77% | +7.41% |
| 2024 | +16.93% | +8.21% |
| 2023 | +12.29% | +6.88% |
| 2022 | +1.98% | +4.82% |
| 2021 | +9.85% | +4.21% |
HSBC Conservative Hybrid vs ITI Banking & PSU Debt: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 731 of them, one for each trading day from 23-10-2023 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 Conservative Hybrid Fund (Direct)
ITI Banking & PSU Debt Fund (Direct)
to
Jan 2024Jul 2021
to
Jul 2024Jan 2022
to
Jan 2025Aug 2022
to
Aug 2025Feb 2023
to
Feb 2026Aug 2023
to
Aug 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 Conservative Hybrid | 0.0 | 0.0 | 52.0 | 48.0 | 0.0 | 0.0 | 0.0 | 10.0% | 9.9% | 7.7% | 12.8% |
| ITI Banking & PSU Debt | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 6.8% | 7.0% | 5.1% | 7.8% |
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 23-10-2020. Past returns do not promise future returns.
HSBC Conservative Hybrid vs ITI Banking & PSU Debt: 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 01-10-2020 to 30-10-2026: 73 instalments, ₹7,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HSBC Conservative HybridHSBC Conservative Hybrid Fund (Direct) | ₹7,30,000 | ₹9,13,836 | ₹1,83,836 | 7.3% |
| ITI Banking & PSU DebtITI Banking & PSU Debt Fund (Direct) | ₹7,30,000 | ₹8,84,783 | ₹1,54,783 | 6.3% |
HSBC Conservative HybridHSBC Conservative Hybrid Fund (Direct)
ITI Banking & PSU DebtITI Banking & PSU Debt 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 Conservative Hybrid vs ITI Banking & PSU Debt: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HSBC Conservative Hybrid Fund (Direct) | ITI Banking & PSU Debt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +0.59% | +4.10% |
| Standard deviation | 4.29% | 0.85% |
| Sharpe ratio | -1.09 | -1.35 |
| Sortino ratio | -1.43 | -1.77 |
| Maximum drawdown | −3.8% (23-10-2026) | −0.4% (23-10-2026) |
| 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 Conservative Hybrid Fund (Direct) | ITI Banking & PSU Debt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.59% | +6.79% |
| Standard deviation | 4.79% | 0.83% |
| Sharpe ratio | 0.53 | 0.92 |
| Sortino ratio | 0.74 | 1.40 |
| Maximum drawdown | −6.1% (03-03-2025) | −0.4% (23-10-2026) |
| 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 Conservative Hybrid Fund (Direct) | ITI Banking & PSU Debt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.14% | +6.27% |
| Standard deviation | 4.50% | 0.70% |
| Sharpe ratio | 0.30 | 0.67 |
| Sortino ratio | 0.41 | 1.00 |
| Maximum drawdown | −6.1% (03-03-2025) | −0.4% (23-10-2026) |
| 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 | HSBC Conservative Hybrid Fund (Direct) | ITI Banking & PSU Debt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.53% | +6.01% |
| Standard deviation | 4.84% | 0.74% |
| Sharpe ratio | 0.51 | 0.88 |
| Sortino ratio | 0.70 | 1.32 |
| Maximum drawdown | −10.4% (23-03-2020) | −1.1% (09-02-2021) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 11-01-2013 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 Conservative Hybrid Fund (Direct)
ITI Banking & PSU Debt Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HSBC Conservative Hybrid Fund (Direct) | −6.1% | 16-12-2024 | 03-03-2025 | 13-05-2025 | 2 months | −3.0% |
| ITI Banking & PSU Debt Fund (Direct) | −1.1% | 08-01-2021 | 09-02-2021 | 30-03-2021 | 49 days | −0.3% |
From daily values since 23-10-2020, 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 Conservative Hybrid Fund (Direct)
ITI Banking & PSU Debt 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 Conservative Hybrid Fund (Direct)
ITI Banking & PSU Debt Fund (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.
HSBC Conservative Hybrid Fund (Direct)
ITI Banking & PSU Debt Fund (Direct)
HSBC Conservative Hybrid vs ITI Banking & PSU Debt: Portfolio Overlap
From each fund's latest monthly portfolio: HSBC Conservative Hybrid Fund, September 2026; ITI Banking & PSU Debt Fund, September 2026
Holdings in common
- Overlap
- 11.7%
- Held by both
- 4
- Only in HSBC Conservative Hybrid
- 42
- Only in ITI Banking & PSU Debt
- 9
| Security | % of HSBC Conservative Hybrid | % of ITI Banking & PSU Debt |
|---|---|---|
| 6.53% GOI 07-Sep-2031 | 6.53% | 5.12% |
| 6.94% GOI 11-May-2036 | 3.33% | 5.80% |
| NABARD | 6.58% | 2.93% |
| Corp Debt Mkt Devlop Fund (SBI AIF Fund) | 0.32% | 0.32% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 11.7% means 11.7% 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 Conservative Hybrid Fund
| Security | % of fund |
|---|---|
| 7.72% Maharashtra SDL - 23-Mar-2032 | 9.96% |
| REC Limited | 6.86% |
| 6.48% GOI 06Oct2035 | 3.90% |
| 7.10% GOI - 18-Apr-2029 | 3.44% |
| 7.32% GOI - 13-Nov-2030 | 3.44% |
Largest holdings only in ITI Banking & PSU Debt Fund
| Security | % of fund |
|---|---|
| 8.14% Nuclear Power Corporation Of India Limited (25/03/2028) | 8.93% |
| 7.71% REC Limited (26/02/2027) | 8.85% |
| 7.59% National Housing Bank (08/09/2027) | 8.85% |
| 7.33% Indian Railway Finance Corporation Limited (27/08/2027) | 8.82% |
| HDFC Bank Limited (22/01/2027) | 8.66% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HSBC Conservative Hybrid | ITI Banking & PSU Debt |
|---|---|---|
| Equity | 22.1% | 0.0% |
| Debt | 68.5% | 81.4% |
| Cash and others | 9.4% | 18.6% |
Market cap of stocks
| Market cap | HSBC Conservative Hybrid | ITI Banking & PSU Debt |
|---|---|---|
| Large Cap | 12.9% | -- |
| Mid Cap | 7.0% | -- |
| Small Cap | 1.3% | -- |
| Not on AMFI's list | 0.9% | -- |
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 Conservative Hybrid | ITI Banking & PSU Debt |
|---|---|---|
| Banks | 7.1% | 0.0% |
| Electrical Equipment | 4.5% | 0.0% |
| Industrial Products | 3.6% | 0.0% |
| IT - Software | 2.6% | 0.0% |
| Auto Components | 0.9% | 0.0% |
| Aerospace & Defense | 0.8% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
HSBC Conservative Hybrid vs ITI Banking & PSU Debt: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HSBC Conservative Hybrid Fund | ITI Banking & PSU Debt Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.19% | 0.23% |
| Base expense ratio (Direct) | 0.96% | 0.18% |
| Total expense ratio (Regular) | 2.19% | 0.75% |
| Base expense ratio (Regular) | 1.81% | 0.63% |
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 Conservative Hybrid with
HSBC Conservative Hybrid Fund vs ITI Banking & PSU Debt Fund: Frequently Asked Questions
What is the difference between HSBC Conservative Hybrid Fund and ITI Banking & PSU Debt Fund?
HSBC Conservative Hybrid Fund is a Conservative Hybrid fund, ITI Banking & PSU Debt Fund is a Banking & PSU fund, run by HSBC Mutual Fund and ITI Mutual Fund. Their portfolios overlap 11.7%. HSBC Conservative Hybrid Fund charges 1.19% a year and ITI Banking & PSU Debt Fund 0.23%.
Which has given higher returns, HSBC Conservative Hybrid Fund or ITI Banking & PSU Debt Fund?
Over 1 year: HSBC Conservative Hybrid Fund +0.59%, ITI Banking & PSU Debt Fund +4.10%. Over 3 years: HSBC Conservative Hybrid Fund +8.59% a year, ITI Banking & PSU Debt Fund +6.79% a year. Over 5 years: HSBC Conservative Hybrid Fund +7.14% a year, ITI Banking & PSU Debt Fund +6.27% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HSBC Conservative Hybrid Fund or ITI Banking & PSU Debt Fund?
ITI Banking & PSU Debt Fund charges less: 0.23% a year against 1.19%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HSBC Conservative Hybrid Fund and ITI Banking & PSU Debt Fund overlap?
11.7%. They hold 4 of the same securities, the largest shared ones being 6.53% GOI 07-Sep-2031, 6.94% GOI 11-May-2036, NABARD. From each fund's latest monthly portfolio.
Which is riskier, HSBC Conservative Hybrid Fund or ITI Banking & PSU Debt Fund?
On SEBI's riskometer, HSBC Conservative Hybrid Fund is rated Moderately High and ITI Banking & PSU Debt Fund Low to Moderate. Over 3 years, the standard deviation of daily returns was 4.79% and 0.83% a year.
Which is better for SIP, HSBC Conservative Hybrid Fund or ITI Banking & PSU Debt Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,29,638 in HSBC Conservative Hybrid Fund (XIRR 7.0% a year) and ₹7,17,392 in ITI Banking & PSU Debt Fund (XIRR 6.3% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both HSBC Conservative Hybrid Fund and ITI Banking & PSU Debt Fund?
Yes. 11.7% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages HSBC Conservative Hybrid Fund and ITI Banking & PSU Debt Fund?
HSBC Conservative Hybrid Fund: Mahesh Chhabria, Mohd. Asif Rizwi, Cheenu Gupta, Abhishek Gupta, Mayank Chaturvedi, Dipan S. Parikh. ITI Banking & PSU Debt Fund: Laukik Bagwe.
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.