HSBC Credit Risk Fund vs ICICI Prudential Credit Risk Fund
Direct Plan, Growth option · Data as on 30-10-2026
HSBC Credit Risk Fund and ICICI Prudential Credit Risk Fund are both Credit Risk funds. In the 3 years to 30-10-2026, HSBC Credit Risk Fund (Direct) returned 11.5% a year and ICICI Prudential Credit Risk Fund (Direct) returned 8.8% a year. HSBC Credit Risk Fund charges 0.84% a year and ICICI Prudential Credit Risk Fund 0.80% (Direct plans). Their portfolios overlap 9.7%: they hold 7 of the same securities.
HSBC Credit Risk Fund
Credit Risk
- 3 year return
- 11.5%
- Expense ratio
- 0.84%
- NAV
- ₹37.80
ICICI Prudential Credit Risk Fund
Credit Risk
- 3 year return
- 8.8%
- Expense ratio
- 0.80%
- NAV
- ₹38.66
Which is better, HSBC Credit Risk or ICICI Prudential Credit Risk? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HSBC Credit Risk returned more over 3 years: 11.5% a year against 8.8%.
- ICICI Prudential Credit Risk returned more over 1 year: 6.8% against 5.7%.
- ICICI Prudential Credit Risk costs less: 0.80% a year against 0.84% (Direct plans).
- ICICI Prudential Credit Risk swung less over 3 years: a standard deviation of 1.2% a year against 6.4%.
- HSBC Credit Risk fell less in its worst fall since 28-11-2022: −0.4% against −0.6%.
- ICICI Prudential Credit Risk is the larger fund: ₹6,320 Cr against ₹441 Cr.
- Their portfolios overlap 9.7%: 7 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 Credit Risk Fund | ICICI Prudential Credit Risk Fund |
|---|---|---|
| Fund house | HSBC Mutual Fund | ICICI Prudential Mutual Fund |
| Category | Credit Risk | Credit Risk |
| AUM | ₹441 Cr (30-09-2026) | ₹6,320 Cr (30-09-2026) |
| NAV | ₹37.80 (Direct) | ₹38.66 (Direct) |
| Expense ratio (Direct) | 0.84% | 0.80% |
| Expense ratio (Regular) | 1.66% | 1.43% |
| Riskometer | Moderately High | Not available |
| Benchmark | NIFTY Credit Risk Bond Index B-II | CRISIL Credit Risk Debt B-II Index |
| Launch date | 08-10-2009 | 03-12-2010 |
| Minimum investment | ₹5,000 | ₹100 |
| Lock in | None | None |
| Fund managers | Shriram Ramanathan | Manish Banthia, Akhil Kakkar |
| Exit load | Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 1 Year. | Exit load of 1% if units in excess of 10% are redeemed or switched-out within 1 year |
HSBC Credit Risk vs ICICI Prudential Credit Risk: 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 Credit Risk Fund (Direct) | −0.12% | +0.77% | +2.99% | +5.68% | +11.54% | -- | -- |
| ICICI Prudential Credit Risk Fund (Direct) | −0.16% | +0.76% | +3.44% | +6.83% | +8.82% | +7.88% | +8.30% |
| Credit Risk average | −0.04% | +0.78% | +3.31% | +7.84% | +9.41% | +9.83% | +6.82% |
Category average: the average of the 13 Credit Risk funds, same plan type.
HSBC Credit Risk vs ICICI Prudential Credit Risk: Year-wise Returns
| Year | HSBCHSBC Credit Risk | ICICI PrudentialICICI Prudential Credit Risk |
|---|---|---|
| 2026to date | +4.65% | +5.34% |
| 2025 | +21.22% | +10.22% |
| 2024 | +8.02% | +9.20% |
| 2023 | +7.34% | +7.95% |
| 2022 | -- | +5.74% |
| 2021 | -- | +6.95% |
HSBC Credit Risk vs ICICI Prudential Credit Risk: 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 Credit Risk Fund (Direct)
ICICI Prudential Credit Risk 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 Credit Risk | 0.0 | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 11.8% | 11.8% | 11.5% | 12.1% |
| ICICI Prudential Credit Risk | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 9.0% | 9.1% | 8.7% | 9.3% |
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 Credit Risk vs ICICI Prudential Credit Risk: 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 Credit RiskHSBC Credit Risk Fund (Direct) | ₹4,80,000 | ₹5,96,979 | ₹1,16,979 | 10.9% |
| ICICI Prudential Credit RiskICICI Prudential Credit Risk Fund (Direct) | ₹4,80,000 | ₹5,67,716 | ₹87,716 | 8.4% |
HSBC Credit RiskHSBC Credit Risk Fund (Direct)
ICICI Prudential Credit RiskICICI Prudential Credit Risk 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 Credit Risk vs ICICI Prudential Credit Risk: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HSBC Credit Risk Fund (Direct) | ICICI Prudential Credit Risk Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.68% | +6.83% |
| Standard deviation | 0.92% | 1.34% |
| Sharpe ratio | 0.47 | 1.18 |
| Sortino ratio | 0.67 | 1.72 |
| Maximum drawdown | −0.4% (23-10-2026) | −0.6% (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 Credit Risk Fund (Direct) | ICICI Prudential Credit Risk Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.54% | +8.82% |
| Standard deviation | 6.43% | 1.18% |
| Sharpe ratio | 0.86 | 2.37 |
| Sortino ratio | 11.11 | 3.61 |
| Maximum drawdown | −0.4% (23-10-2026) | −0.6% (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 Credit Risk Fund (Direct) | ICICI Prudential Credit Risk Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.49% | +8.83% |
| Standard deviation | 5.63% | 1.42% |
| Sharpe ratio | 0.77 | 1.96 |
| Sortino ratio | 9.21 | 2.93 |
| Maximum drawdown | −0.4% (23-10-2026) | −2.9% (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 Credit Risk Fund (Direct)
ICICI Prudential Credit Risk Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HSBC Credit Risk Fund (Direct) | −0.4% | 06-10-2026 | 23-10-2026 | Not yet | -- | −0.2% |
| ICICI Prudential Credit Risk Fund (Direct) | −0.6% | 22-09-2026 | 23-10-2026 | Not yet | -- | −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 Credit Risk Fund (Direct)
ICICI Prudential Credit Risk 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 Credit Risk Fund (Direct)
ICICI Prudential Credit Risk Fund (Direct)
HSBC Credit Risk vs ICICI Prudential Credit Risk: Portfolio Overlap
From each fund's latest monthly portfolio: HSBC Credit Risk Fund, September 2026; ICICI Prudential Credit Risk Fund, September 2026
Holdings in common
- Overlap
- 9.7%
- Held by both
- 7
- Only in HSBC Credit Risk
- 23
- Only in ICICI Prudential Credit Risk
- 91
| Security | % of HSBC Credit Risk | % of ICICI Prudential Credit Risk |
|---|---|---|
| JTPM Metal Traders | 6.12% | 4.35% |
| Nirma Limited | 5.97% | 2.38% |
| Vedanta Limited | 3.53% | 1.20% |
| Cube Highway Trust | 1.94% | 0.73% |
| Raajmarg Infra Investment Trust | 1.23% | 0.57% |
| Corp Debt Mkt Devlop Fund (SBI AIF Fund) | 0.43% | 0.37% |
| Godrej Seeds & Genetics Limited | 5.67% | 0.08% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 9.7% means 9.7% 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 Credit Risk Fund
| Security | % of fund |
|---|---|
| Nuvoco Vistas Corporation Limited | 7.88% |
| 6.01% GOI 21Jul2030 | 6.69% |
| Power Finance Corporation Limited | 5.84% |
| Power Grid Corporation of India Limited | 5.71% |
| Aditya Birla Renewables Limited | 5.68% |
Largest holdings only in ICICI Prudential Credit Risk Fund
| Security | % of fund |
|---|---|
| Government Securities | 3.42% |
| EMBASSY OFFICE PARKS REIT | 3.28% |
| Adani Enterprises Ltd. | 3.16% |
| Truhome Finance Ltd. | 3.16% |
| Bamboo Hotels & Global Centre (Delhi) Pvt Ltd. | 2.94% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HSBC Credit Risk | ICICI Prudential Credit Risk |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 92.6% | 86.1% |
| Cash and others | 7.4% | 13.9% |
HSBC Credit Risk vs ICICI Prudential Credit Risk: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HSBC Credit Risk Fund | ICICI Prudential Credit Risk Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.84% | 0.80% |
| Base expense ratio (Direct) | 0.70% | 0.68% |
| Total expense ratio (Regular) | 1.66% | 1.43% |
| Base expense ratio (Regular) | 1.39% | 1.22% |
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 Credit Risk with
HSBC Credit Risk Fund vs ICICI Prudential Credit Risk Fund: Frequently Asked Questions
What is the difference between HSBC Credit Risk Fund and ICICI Prudential Credit Risk Fund?
Both are Credit Risk funds, run by HSBC Mutual Fund and ICICI Prudential Mutual Fund. Their portfolios overlap 9.7%. HSBC Credit Risk Fund charges 0.84% a year and ICICI Prudential Credit Risk Fund 0.80%.
Which has given higher returns, HSBC Credit Risk Fund or ICICI Prudential Credit Risk Fund?
Over 1 year: HSBC Credit Risk Fund +5.68%, ICICI Prudential Credit Risk Fund +6.83%. Over 3 years: HSBC Credit Risk Fund +11.54% a year, ICICI Prudential Credit Risk Fund +8.82% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HSBC Credit Risk Fund or ICICI Prudential Credit Risk Fund?
ICICI Prudential Credit Risk Fund charges less: 0.80% a year against 0.84%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HSBC Credit Risk Fund and ICICI Prudential Credit Risk Fund overlap?
9.7%. They hold 7 of the same securities, the largest shared ones being JTPM Metal Traders, Nirma Limited, Vedanta Limited. From each fund's latest monthly portfolio.
Which is better for SIP, HSBC Credit Risk Fund or ICICI Prudential Credit Risk Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹4,38,265 in HSBC Credit Risk Fund (XIRR 11.0% a year) and ₹4,19,971 in ICICI Prudential Credit Risk Fund (XIRR 8.2% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both HSBC Credit Risk Fund and ICICI Prudential Credit Risk Fund?
Yes. 9.7% of each fund's money sits in the same holdings, so the two hold mostly different investments.
Who manages HSBC Credit Risk Fund and ICICI Prudential Credit Risk Fund?
HSBC Credit Risk Fund: Shriram Ramanathan. ICICI Prudential Credit Risk Fund: Manish Banthia, Akhil Kakkar.
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.