HSBC Dynamic Term Fund vs Invesco India Corporate Bond Fund
Direct Plan, Growth option · Data as on 30-10-2026
HSBC Dynamic Term Fund is a Dynamic Bond fund and Invesco India Corporate Bond Fund is a Corporate Bond fund. In the 3 years to 30-10-2026, HSBC Dynamic Term Fund (Direct) returned 6.5% a year and Invesco India Corporate Bond Fund (Direct) returned 6.8% a year. HSBC Dynamic Term Fund charges 0.30% a year and Invesco India Corporate Bond Fund 0.29% (Direct plans). Their portfolios overlap 15.2%: they hold 7 of the same securities.
HSBC Dynamic Term Fund
Dynamic Bond
- 3 year return
- 6.5%
- Expense ratio
- 0.30%
- NAV
- ₹33.17
Invesco India Corporate Bond Fund
Corporate Bond
- 3 year return
- 6.8%
- Expense ratio
- 0.29%
- NAV
- ₹3,598.84
Which is better, HSBC Dynamic Term or Invesco India Corporate Bond? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Invesco India Corporate Bond returned more over 3 years: 6.8% a year against 6.5%.
- Invesco India Corporate Bond returned more over 1 year: 3.3% against 2.5%.
- Invesco India Corporate Bond costs less: 0.29% a year against 0.30% (Direct plans).
- Invesco India Corporate Bond swung less over 3 years: a standard deviation of 1.2% a year against 2.2%.
- Invesco India Corporate Bond fell less in its worst fall since 28-11-2022: −1.2% against −2.0%.
- Invesco India Corporate Bond is the larger fund: ₹3,478 Cr against ₹119 Cr.
- Their portfolios overlap 15.2%: 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 Dynamic Term Fund | Invesco India Corporate Bond Fund |
|---|---|---|
| Fund house | HSBC Mutual Fund | Invesco Mutual Fund |
| Category | Dynamic Bond | Corporate Bond |
| AUM | ₹119 Cr (30-09-2026) | ₹3,478 Cr (30-09-2026) |
| NAV | ₹33.17 (Direct) | ₹3,598.84 (Direct) |
| Expense ratio (Direct) | 0.30% | 0.29% |
| Expense ratio (Regular) | 0.83% | 0.69% |
| Riskometer | Moderate | Moderate |
| Benchmark | NIFTY Composite Debt Index A-III | NIFTY Corporate Bond Index A-II |
| Launch date | 30-08-2006 | 02-08-2007 |
| Minimum investment | ₹5,000 | Not available |
| Lock in | None | None |
| Fund managers | Mahesh Chhabria, Shriram Ramanathan | Krishna Cheemalapati, Vikas Garg |
| Exit load | Nil | Nil |
HSBC Dynamic Term vs Invesco India Corporate Bond: 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 Dynamic Term Fund (Direct) | −0.37% | −0.84% | +1.59% | +2.45% | +6.47% | -- | -- |
| Invesco India Corporate Bond Fund (Direct) | −0.47% | −0.54% | +2.00% | +3.30% | +6.83% | +5.99% | +6.41% |
| Dynamic Bond average | −0.48% | −0.66% | +1.80% | +3.05% | +6.70% | -- | -- |
| Corporate Bond average | −0.24% | +0.05% | +2.31% | +4.00% | +7.02% | +6.20% | +6.98% |
Category average: the average of the 22 Dynamic Bond funds and the 21 Corporate Bond funds, same plan type.
HSBC Dynamic Term vs Invesco India Corporate Bond: Year-wise Returns
| Year | HSBC Dynamic TermHSBC Dynamic Term | Invesco India Corporate BondInvesco India Corporate Bond |
|---|---|---|
| 2026to date | +1.88% | +2.58% |
| 2025 | +6.20% | +8.02% |
| 2024 | +9.35% | +8.49% |
| 2023 | +7.04% | +7.09% |
| 2022 | -- | +3.25% |
| 2021 | -- | +3.78% |
HSBC Dynamic Term vs Invesco India Corporate Bond: 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 Dynamic Term Fund (Direct)
Invesco India Corporate Bond 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 Dynamic Term | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7.0% | 7.0% | 6.3% | 7.5% |
| Invesco India Corporate Bond | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7.4% | 7.4% | 6.8% | 8.0% |
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 Dynamic Term vs Invesco India Corporate Bond: 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 Dynamic TermHSBC Dynamic Term Fund (Direct) | ₹4,80,000 | ₹5,34,219 | ₹54,219 | 5.3% |
| Invesco India Corporate BondInvesco India Corporate Bond Fund (Direct) | ₹4,80,000 | ₹5,42,983 | ₹62,983 | 6.1% |
HSBC Dynamic TermHSBC Dynamic Term Fund (Direct)
Invesco India Corporate BondInvesco India Corporate Bond 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 Dynamic Term vs Invesco India Corporate Bond: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HSBC Dynamic Term Fund (Direct) | Invesco India Corporate Bond Fund (Direct) |
|---|---|---|
| Return (CAGR) | +2.45% | +3.30% |
| Standard deviation | 2.22% | 1.50% |
| Sharpe ratio | -1.26 | -1.30 |
| Sortino ratio | -1.67 | -1.73 |
| Maximum drawdown | −1.8% (23-10-2026) | −1.2% (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 Dynamic Term Fund (Direct) | Invesco India Corporate Bond Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.47% | +6.83% |
| Standard deviation | 2.24% | 1.20% |
| Sharpe ratio | 0.20 | 0.67 |
| Sortino ratio | 0.28 | 0.97 |
| Maximum drawdown | −2.0% (26-08-2025) | −1.2% (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 Dynamic Term Fund (Direct) | Invesco India Corporate Bond Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.29% | +7.19% |
| Standard deviation | 2.05% | 2.39% |
| Sharpe ratio | 0.06 | 0.48 |
| Sortino ratio | 0.08 | 0.69 |
| Maximum drawdown | −2.0% (26-08-2025) | −4.7% (10-03-2017) |
| 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 Dynamic Term Fund (Direct)
Invesco India Corporate Bond Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HSBC Dynamic Term Fund (Direct) | −2.0% | 28-05-2025 | 26-08-2025 | 13-10-2025 | 48 days | −1.6% |
| Invesco India Corporate Bond Fund (Direct) | −1.2% | 14-08-2026 | 23-10-2026 | Not yet | -- | −1.0% |
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 Dynamic Term Fund (Direct)
Invesco India Corporate Bond 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 Dynamic Term Fund (Direct)
Invesco India Corporate Bond Fund (Direct)
HSBC Dynamic Term vs Invesco India Corporate Bond: Portfolio Overlap
From each fund's latest monthly portfolio: HSBC Dynamic Term Fund, September 2026; Invesco India Corporate Bond Fund, September 2026
Holdings in common
- Overlap
- 15.2%
- Held by both
- 7
- Only in HSBC Dynamic Term
- 8
- Only in Invesco India Corporate Bond
- 79
| Security | % of HSBC Dynamic Term | % of Invesco India Corporate Bond |
|---|---|---|
| 6.94% GOI 11-May-2036 | 8.49% | 7.21% |
| NABARD | 4.31% | 3.52% |
| Bharti Telecom Limited | 4.37% | 2.12% |
| REC Limited | 5.83% | 1.39% |
| Corp Debt Mkt Devlop Fund (SBI AIF Fund) | 0.54% | 0.60% |
| 6.48% GOI 06Oct2035 | 4.46% | 0.28% |
| 7.24% GOI 18-Aug-2055 | 0.12% | 1.09% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 15.2% means 15.2% 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 Dynamic Term Fund
| Security | % of fund |
|---|---|
| 7.71% GOI 18-May-2066 | 8.63% |
| 6.9% GOI 15-Apr-2065 | 7.40% |
| LIC Housing Finance Limited | 6.75% |
| Power Finance Corporation Limited | 6.49% |
| SIDBI | 6.04% |
Largest holdings only in Invesco India Corporate Bond Fund
| Security | % of fund |
|---|---|
| 7.96% Pipeline Infrastructure Private Limited 2029 | 5.35% |
| 6.79% Government of India 2034 | 3.68% |
| 8.7% LIC Housing Finance Limited 2029 | 2.92% |
| 7.89% REC Limited 2030 | 2.88% |
| 7% Mindspace Business Parks REIT 2027 | 2.86% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HSBC Dynamic Term | Invesco India Corporate Bond |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 70.0% | 93.9% |
| Cash and others | 30.0% | 6.1% |
HSBC Dynamic Term vs Invesco India Corporate Bond: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HSBC Dynamic Term Fund | Invesco India Corporate Bond Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.30% | 0.29% |
| Base expense ratio (Direct) | 0.23% | 0.24% |
| Total expense ratio (Regular) | 0.83% | 0.69% |
| Base expense ratio (Regular) | 0.68% | 0.58% |
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 Dynamic Term with
Compare Invesco India Corporate Bond with
HSBC Dynamic Term Fund vs Invesco India Corporate Bond Fund: Frequently Asked Questions
What is the difference between HSBC Dynamic Term Fund and Invesco India Corporate Bond Fund?
HSBC Dynamic Term Fund is a Dynamic Bond fund, Invesco India Corporate Bond Fund is a Corporate Bond fund, run by HSBC Mutual Fund and Invesco Mutual Fund. Their portfolios overlap 15.2%. HSBC Dynamic Term Fund charges 0.30% a year and Invesco India Corporate Bond Fund 0.29%.
Which has given higher returns, HSBC Dynamic Term Fund or Invesco India Corporate Bond Fund?
Over 1 year: HSBC Dynamic Term Fund +2.45%, Invesco India Corporate Bond Fund +3.30%. Over 3 years: HSBC Dynamic Term Fund +6.47% a year, Invesco India Corporate Bond Fund +6.83% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HSBC Dynamic Term Fund or Invesco India Corporate Bond Fund?
Invesco India Corporate Bond Fund charges less: 0.29% a year against 0.30%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HSBC Dynamic Term Fund and Invesco India Corporate Bond Fund overlap?
15.2%. They hold 7 of the same securities, the largest shared ones being 6.94% GOI 11-May-2036, NABARD, Bharti Telecom Limited. From each fund's latest monthly portfolio.
Which is riskier, HSBC Dynamic Term Fund or Invesco India Corporate Bond Fund?
On SEBI's riskometer, HSBC Dynamic Term Fund is rated Moderate and Invesco India Corporate Bond Fund Moderate. Over 3 years, the standard deviation of daily returns was 2.24% and 1.20% a year.
Which is better for SIP, HSBC Dynamic Term Fund or Invesco India Corporate Bond Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹3,97,608 in HSBC Dynamic Term Fund (XIRR 4.6% a year) and ₹4,03,903 in Invesco India Corporate Bond Fund (XIRR 5.6% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both HSBC Dynamic Term Fund and Invesco India Corporate Bond Fund?
Yes. 15.2% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages HSBC Dynamic Term Fund and Invesco India Corporate Bond Fund?
HSBC Dynamic Term Fund: Mahesh Chhabria, Shriram Ramanathan. Invesco India Corporate Bond Fund: Krishna Cheemalapati, Vikas Garg.
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.