HSBC Consumption Fund vs Union Consumption Fund
Direct Plan, Growth option · Data as on 30-10-2026
HSBC Consumption Fund is a Thematic fund and Union Consumption Fund is a Thematic fund. HSBC Consumption Fund charges 0.89% a year and Union Consumption Fund 1.37% (Direct plans). Their portfolios overlap 40.2%: they hold 16 of the same securities.
Which is better, HSBC Consumption or Union Consumption? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HSBC Consumption costs less: 0.89% a year against 1.37% (Direct plans).
- HSBC Consumption fell less in its worst fall since 26-12-2025: −16.0% against −16.8%.
- Union Consumption holds more in large companies: 50.1% of the fund in large caps against 34.8%.
- HSBC Consumption is the larger fund: ₹1,698 Cr against ₹314 Cr.
- Their portfolios overlap 40.2%: 16 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 Consumption Fund | Union Consumption Fund |
|---|---|---|
| Fund house | HSBC Mutual Fund | Union Mutual Fund |
| Category | Thematic | Thematic |
| AUM | ₹1,698 Cr (30-09-2026) | ₹314 Cr (30-09-2026) |
| NAV | ₹14.84 (Direct) | ₹9.56 (Direct) |
| Expense ratio (Direct) | 0.89% | 1.37% |
| Expense ratio (Regular) | 2.21% | 2.69% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty India Consumption TRI | Nifty India Consumption TRI |
| Launch date | 31-08-2023 | 22-12-2025 |
| Minimum investment | ₹5,000 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Anish Goenka, Mayank Chaturvedi, Dipan S. Parikh | Vinod Malviya, Sanjay Bembalkar |
| Exit load | Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 90 days. | Exit load of 1%, if redeemed within 1 Year. |
HSBC Consumption vs Union Consumption: 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 Consumption Fund (Direct) | −3.56% | −5.68% | +1.50% | −4.62% | +13.80% | -- | -- |
| Union Consumption Fund (Direct) | +0.42% | −2.65% | +4.14% | -- | -- | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | -- | -- | -- | -- |
Category average: the average of the 235 Thematic funds, same plan type.
HSBC Consumption vs Union Consumption: Year-wise Returns
| Year | HSBCHSBC Consumption | UnionUnion Consumption | Nifty India Consumption TRI |
|---|---|---|---|
| 2026to date | −2.41% | −4.69% | −9.10% |
| 2025 | −0.19% | -- | +9.22% |
| 2024 | +34.57% | -- | +19.77% |
HSBC Consumption vs Union Consumption: Rolling Returns
Every holding period of both funds, against Nifty India Consumption TRI, the benchmark of both
HSBC Consumption vs Union Consumption: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HSBC Consumption Fund (Direct) | Union Consumption Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.25% | −5.20% |
| Standard deviation | 14.91% | 15.32% |
| Sharpe ratio | 0.48 | -0.68 |
| Sortino ratio | 0.67 | -0.91 |
| Maximum drawdown | −21.2% (28-02-2025) | −16.8% (30-03-2026) |
| Beta | 0.94 | 0.91 |
| Alpha | +3.09% | +3.54% |
From daily NAVs, 04-09-2023 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.
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 Consumption Fund (Direct)
Union Consumption Fund (Direct)
Nifty India Consumption TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HSBC Consumption Fund (Direct) | −16.0% | 07-01-2026 | 23-03-2026 | 09-07-2026 | 4 months | −9.3% |
| Union Consumption Fund (Direct) | −16.8% | 05-01-2026 | 30-03-2026 | 14-08-2026 | 5 months | −5.6% |
| Nifty India Consumption TRI | −15.8% | 31-12-2025 | 30-03-2026 | 03-08-2026 | 4 months | −9.5% |
From daily values since 26-12-2025, the first day every fund has.
HSBC Consumption vs Union Consumption: Portfolio Overlap
From each fund's latest monthly portfolio: HSBC Consumption Fund, September 2026; Union Consumption Fund, September 2026
Holdings in common
- Overlap
- 40.2%
- Held by both
- 16
- Only in HSBC Consumption
- 35
- Only in Union Consumption
- 32
| Security | % of HSBC Consumption | % of Union Consumption |
|---|---|---|
| Eternal Limited | 7.00% | 7.22% |
| Bharti Airtel Limited | 4.50% | 7.05% |
| Maruti Suzuki India Limited | 4.12% | 4.78% |
| Titan Company Limited | 4.23% | 3.63% |
| Radico Khaitan Limited | 4.99% | 3.30% |
| Varun Beverages Limited | 3.25% | 3.79% |
| Mahindra & Mahindra Limited | 2.90% | 5.27% |
| Ather Energy Limited | 3.25% | 2.70% |
| Trent Limited | 2.08% | 3.65% |
| TVS Motor Company Limited | 3.19% | 1.65% |
| Meesho Limited | 1.63% | 1.45% |
| LG Electronics India Limited | 1.09% | 2.94% |
| Milky Mist Dairy Food Limited | 3.37% | 0.81% |
| METRO BRANDS LIMITED | 0.66% | 1.45% |
| Nippon Life India Asset Management Ltd | 0.63% | 1.62% |
| Dixon Technologies (India) Limited | 2.41% | 0.42% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 40.2% means 40.2% 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 Consumption Fund
| Security | % of fund |
|---|---|
| GLOBAL HEALTH LIMITED | 3.09% |
| Multi Commodity Exchange of India Ltd. | 2.70% |
| CRAFTSMAN AUTOMATION LIMITED | 2.50% |
| KALYAN JEWELLERS INDIA LIMITED | 2.48% |
| Amber Enterprises India Limited | 2.46% |
Largest holdings only in Union Consumption Fund
| Security | % of fund |
|---|---|
| FSN E-Commerce Ventures Ltd. | 2.85% |
| Zydus Wellness Ltd. | 2.83% |
| Honasa Consumer Ltd. | 2.67% |
| One 97 Communications Ltd. | 2.60% |
| Marico Ltd. | 2.51% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HSBC Consumption | Union Consumption |
|---|---|---|
| Equity | 98.1% | 98.7% |
| Debt | 0.0% | 0.1% |
| Cash and others | 1.9% | 1.2% |
Market cap of stocks
| Market cap | HSBC Consumption | Union Consumption |
|---|---|---|
| Large Cap | 34.8% | 50.1% |
| Mid Cap | 23.6% | 25.4% |
| Small Cap | 34.5% | 20.4% |
| Not on AMFI's list | 5.3% | 2.8% |
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 Consumption | Union Consumption |
|---|---|---|
| Retailing | 15.5% | 19.9% |
| Consumer Durables | 17.4% | 13.0% |
| Automobiles | 13.5% | 15.2% |
| Beverages | 9.2% | 7.1% |
| Telecom - Services | 4.5% | 7.0% |
| Food Products | 6.8% | 4.0% |
| Leisure Services | 5.8% | 0.0% |
| Agricultural Food & other Products | 1.8% | 4.8% |
The six largest sectors of each fund's stocks, % of the fund.
HSBC Consumption vs Union Consumption: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HSBC Consumption Fund | Union Consumption Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.89% | 1.37% |
| Base expense ratio (Direct) | 0.68% | 0.94% |
| Total expense ratio (Regular) | 2.21% | 2.69% |
| Base expense ratio (Regular) | 1.80% | 2.10% |
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 Consumption with
HSBC Consumption Fund vs Union Consumption Fund: Frequently Asked Questions
What is the difference between HSBC Consumption Fund and Union Consumption Fund?
HSBC Consumption Fund is a Thematic fund, Union Consumption Fund is a Thematic fund, run by HSBC Mutual Fund and Union Mutual Fund. Their portfolios overlap 40.2%. HSBC Consumption Fund charges 0.89% a year and Union Consumption Fund 1.37%.
Which has the lower expense ratio, HSBC Consumption Fund or Union Consumption Fund?
HSBC Consumption Fund charges less: 0.89% a year against 1.37%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HSBC Consumption Fund and Union Consumption Fund overlap?
40.2%. They hold 16 of the same securities, the largest shared ones being ETERNAL, BHARTIARTL, MARUTI. From each fund's latest monthly portfolio.
Which is riskier, HSBC Consumption Fund or Union Consumption Fund?
On SEBI's riskometer, HSBC Consumption Fund is rated Very High and Union Consumption Fund Very High. Over their common history, the standard deviation of daily returns was 14.91% and 15.32% a year.
Can I invest in both HSBC Consumption Fund and Union Consumption Fund?
Yes. 40.2% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages HSBC Consumption Fund and Union Consumption Fund?
HSBC Consumption Fund: Anish Goenka, Mayank Chaturvedi, Dipan S. Parikh. Union Consumption Fund: Vinod Malviya, Sanjay Bembalkar.
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.