HSBC Equity Savings Fund vs HSBC Large & Mid Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
HSBC Equity Savings Fund is an Equity Savings fund and HSBC Large & Mid Cap Fund is a Large & Mid Cap fund. In the 3 years to 30-10-2026, HSBC Equity Savings Fund (Direct) returned 12.8% a year and HSBC Large & Mid Cap Fund (Direct) returned 17.1% a year. HSBC Equity Savings Fund charges 1.41% a year and HSBC Large & Mid Cap Fund 1.35% (Direct plans). Their portfolios overlap 34.6%: they hold 44 of the same securities.
HSBC Equity Savings Fund
Equity Savings
- 3 year return
- 12.8%
- Expense ratio
- 1.41%
- NAV
- ₹40.76
HSBC Large & Mid Cap Fund
Large & Mid Cap
- 3 year return
- 17.1%
- Expense ratio
- 1.35%
- NAV
- ₹31.51
Which is better, HSBC Equity Savings or HSBC Large & Mid Cap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HSBC Large & Mid Cap returned more over 3 years: 17.1% a year against 12.8%.
- HSBC Equity Savings returned more over 1 year: 6.0% against 3.6%.
- HSBC Large & Mid Cap costs less: 1.35% a year against 1.41% (Direct plans).
- HSBC Equity Savings swung less over 3 years: a standard deviation of 7.2% a year against 17.6%.
- HSBC Equity Savings fell less in its worst fall since 28-11-2022: −11.5% against −25.1%.
- HSBC Equity Savings holds more in large companies: 49.2% of the fund in large caps against 35.4%.
- HSBC Large & Mid Cap is the larger fund: ₹5,784 Cr against ₹1,558 Cr.
- Their portfolios overlap 34.6%: 44 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 Equity Savings Fund | HSBC Large & Mid Cap Fund |
|---|---|---|
| Fund house | HSBC Mutual Fund | HSBC Mutual Fund |
| Category | Equity Savings | Large & Mid Cap |
| AUM | ₹1,558 Cr (30-09-2026) | ₹5,784 Cr (30-09-2026) |
| NAV | ₹40.76 (Direct) | ₹31.51 (Direct) |
| Expense ratio (Direct) | 1.41% | 1.35% |
| Expense ratio (Regular) | 2.40% | 2.43% |
| Riskometer | Low to Moderate | Very High |
| Benchmark | Nifty Equity Savings Index | Nifty LargeMidcap 250 TRI |
| Launch date | 18-10-2011 | 28-03-2019 |
| Minimum investment | ₹5,000 | Rs. 5,000 per application |
| Lock in | None | None |
| Fund managers | Cheenu Gupta, Praveen Ayathan, Mahesh Chhabria, Mohd. Asif Rizwi, Mayank Chaturvedi, Dipan S. Parikh | Cheenu Gupta, Mayank Chaturvedi, Dipan S. Parikh |
| Exit load | Exit load for units in excess of 0.50% of the investment,1% will be charged for redemption within 1 month. | Exit load for units in excess of 10% of the investment,1% will be charged for redemption within 1 year. |
HSBC Equity Savings vs HSBC Large & Mid Cap: 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 Equity Savings Fund (Direct) | +0.23% | −0.42% | +2.72% | +6.04% | +12.81% | -- | -- |
| HSBC Large & Mid Cap Fund (Direct) | −1.12% | −2.10% | +2.86% | +3.59% | +17.14% | +13.41% | -- |
| Equity Savings average | −0.02% | −0.68% | +1.71% | +2.12% | +8.55% | -- | -- |
| Large & Mid Cap average | −1.78% | −5.20% | −0.43% | −3.99% | +13.28% | +11.36% | -- |
Category average: the average of the 23 Equity Savings funds and the 36 Large & Mid Cap funds, same plan type.
HSBC Equity Savings vs HSBC Large & Mid Cap: Year-wise Returns
| Year | Equity SavingsHSBC Equity Savings | Large & Mid CapHSBC Large & Mid Cap |
|---|---|---|
| 2026to date | +6.60% | +5.15% |
| 2025 | +1.76% | −2.47% |
| 2024 | +25.17% | +39.99% |
| 2023 | +18.09% | +31.69% |
| 2022 | -- | −2.19% |
| 2021 | -- | +37.39% |
HSBC Equity Savings vs HSBC Large & Mid Cap: Rolling Returns
Every holding period of both funds, against NIFTY LargeMidcap 250 TRI, the benchmark of HSBC Large & Mid Cap Fund
Rolling returns
Every 3-year holding period, 226 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 Equity Savings Fund (Direct)
HSBC Large & Mid Cap Fund (Direct)
NIFTY LargeMidcap 250 TRI
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 | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HSBC Equity Savings | 0.0 | 0.0 | 0.0 | 96.5 | 3.5 | 0.0 | 0.0 | 14.0% | 14.1% | 12.0% | 15.1% | 16% |
| HSBC Large & Mid Cap | 0.0 | 0.0 | 0.0 | 0.0 | 37.2 | 62.8 | 0.0 | 20.1% | 20.3% | 15.1% | 23.3% | 100% |
| NIFTY LargeMidcap 250 TRI | 0.0 | 0.0 | 0.0 | 29.2 | 62.4 | 8.4 | 0.0 | 16.4% | 17.0% | 10.1% | 20.9% | -- |
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. The benchmark is NIFTY LargeMidcap 250 TRI, over the same periods. "Beat benchmark" counts the periods in which the fund did better. Every fund is measured over the days all of them have, from 28-11-2022. Past returns do not promise future returns.
HSBC Equity Savings vs HSBC Large & Mid Cap: 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 Equity SavingsHSBC Equity Savings Fund (Direct) | ₹4,80,000 | ₹5,95,515 | ₹1,15,515 | 10.8% |
| HSBC Large & Mid CapHSBC Large & Mid Cap Fund (Direct) | ₹4,80,000 | ₹6,24,149 | ₹1,44,149 | 13.2% |
HSBC Equity SavingsHSBC Equity Savings Fund (Direct)
HSBC Large & Mid CapHSBC Large & Mid Cap 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 Equity Savings vs HSBC Large & Mid Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HSBC Equity Savings Fund (Direct) | HSBC Large & Mid Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.04% | +3.59% |
| Standard deviation | 5.81% | 15.71% |
| Sharpe ratio | 0.14 | -0.11 |
| Sortino ratio | 0.19 | -0.14 |
| Maximum drawdown | −3.4% (21-01-2026) | −12.2% (23-03-2026) |
| Beta | -- | 0.97 |
| Alpha | -- | +9.71% |
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 Equity Savings Fund (Direct) | HSBC Large & Mid Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.81% | +17.14% |
| Standard deviation | 7.16% | 17.58% |
| Sharpe ratio | 0.95 | 0.63 |
| Sortino ratio | 1.28 | 0.84 |
| Maximum drawdown | −11.5% (28-02-2025) | −25.1% (28-02-2025) |
| Beta | -- | 1.10 |
| Alpha | -- | +5.04% |
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 Equity Savings Fund (Direct) | HSBC Large & Mid Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.70% | +16.38% |
| Standard deviation | 6.51% | 18.18% |
| Sharpe ratio | 1.00 | 0.62 |
| Sortino ratio | 1.36 | 0.82 |
| Maximum drawdown | −11.5% (28-02-2025) | −36.1% (23-03-2020) |
| Beta | -- | 1.02 |
| Alpha | -- | +1.70% |
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 Equity Savings Fund (Direct)
HSBC Large & Mid Cap Fund (Direct)
NIFTY LargeMidcap 250 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HSBC Equity Savings Fund (Direct) | −11.5% | 02-01-2025 | 28-02-2025 | 10-09-2025 | 6 months | −1.9% |
| HSBC Large & Mid Cap Fund (Direct) | −25.1% | 16-12-2024 | 28-02-2025 | 17-06-2026 | 16 months | −7.3% |
| NIFTY LargeMidcap 250 TRI | −18.8% | 26-09-2024 | 28-02-2025 | 17-11-2025 | 9 months | −8.6% |
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 Equity Savings Fund (Direct)
HSBC Large & Mid Cap Fund (Direct)
NIFTY LargeMidcap 250 TRI
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 Equity Savings Fund (Direct)
HSBC Large & Mid Cap Fund (Direct)
NIFTY LargeMidcap 250 TRI
Against NIFTY LargeMidcap 250 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| HSBC Equity Savings Fund (Direct) | 59% | 24% | 10.21% |
| HSBC Large & Mid Cap Fund (Direct) | 115% | 95% | 7.31% |
From month-end values since 28-11-2022. Up capture: a fund's average month when the benchmark rose, as % of the benchmark's; above 100% it gained more. Down capture: the same for months the benchmark fell; below 100% it fell less. Tracking error: how far the monthly returns strayed from the benchmark's, a year; an index fund aims near 0.
HSBC Equity Savings vs HSBC Large & Mid Cap: Portfolio Overlap
From each fund's latest monthly portfolio: HSBC Equity Savings Fund, September 2026; HSBC Large & Mid Cap Fund, September 2026
Holdings in common
- Overlap
- 34.6%
- Held by both
- 44
- Only in HSBC Equity Savings
- 68
- Only in HSBC Large & Mid Cap
- 35
| Security | % of HSBC Equity Savings | % of HSBC Large & Mid Cap |
|---|---|---|
| HDFC Bank Limited | 4.78% | 5.81% |
| ICICI Bank Limited | 3.64% | 6.52% |
| The Federal Bank Limited | 2.55% | 3.34% |
| Lenskart Solutions Limited | 1.89% | 4.96% |
| Sun Pharmaceutical Industries Limited | 1.68% | 1.59% |
| Aditya Infotech Limited | 1.58% | 3.37% |
| GE Vernova T&D India Limited | 1.52% | 2.54% |
| Polycab India Limited | 1.64% | 1.51% |
| Meesho Limited | 1.46% | 3.79% |
| Hitachi Energy India Limited | 1.32% | 2.13% |
| Coforge Limited | 1.12% | 1.46% |
| Divi''s Laboratories Limited | 1.05% | 1.33% |
| Dhoot Transmission Limited | 0.96% | 2.60% |
| InterGlobe Aviation Limited | 0.96% | 2.00% |
| Bajaj Finance Limited | 1.41% | 0.83% |
| FSN E-Commerce Ventures Limited | 0.82% | 2.44% |
| Radico Khaitan Limited | 0.71% | 2.45% |
| Cholamandalam Invest & Finance Co Ltd | 0.70% | 1.42% |
| KFIN Technologies Limited | 0.94% | 0.68% |
| JSW Steel Limited | 0.66% | 2.20% |
| CG Power And Industrial Solutions Ltd | 0.66% | 2.31% |
| Godfrey Phillips India Limited | 0.61% | 0.74% |
| HDFC Asset Management Company Limited | 1.31% | 0.56% |
| PB Fintech Limited | 0.33% | 0.78% |
| City Union Bank Limited | 0.30% | 1.73% |
| Aditya Birla Capital Limited | 0.30% | 1.34% |
| Nippon Life India Asset Management Ltd | 0.24% | 1.56% |
| APAR INDUSTRIES LTD | 0.22% | 1.46% |
| ICICI Prudential AMC Ltd | 0.68% | 0.17% |
| Larsen & Toubro Limited | 0.29% | 0.16% |
| TVS Motor Company Limited | 0.13% | 2.38% |
| Billionbrains Garage Ventures Ltd. | 0.12% | 0.32% |
| DLF Limited | 0.11% | 0.90% |
| TD Power Systems Limited | 0.11% | 1.13% |
| Thermax Limited | 0.06% | 0.72% |
| Tata Consumer Products Limited | 0.26% | 0.05% |
| Bharat Electronics Limited | 0.58% | 0.04% |
| Mahindra & Mahindra Limited | 1.80% | 0.03% |
| Reliance Industries Limited | 2.88% | 0.01% |
| Bharti Airtel Limited | 1.23% | 0.01% |
| Bharat Heavy Electricals Limited | 0.42% | 0.01% |
| ABB India Limited | 0.13% | 0.01% |
| Prudent Corporate Advisory Services Ltd | 0.01% | 0.16% |
| Eternal Limited | 0.01% | 0.01% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 34.6% means 34.6% 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 Equity Savings Fund
| Security | % of fund |
|---|---|
| Axis Bank Limited | 3.45% |
| State Bank of India | 3.14% |
| 7.06% GOI - 10-Apr-2028 | 2.94% |
| 6.36% GOI 16-Feb-2031 | 2.54% |
| Life Insurance Corporation Of India | 2.05% |
Largest holdings only in HSBC Large & Mid Cap Fund
| Security | % of fund |
|---|---|
| Ather Energy Limited | 2.72% |
| Piramal Finance Ltd | 2.36% |
| Lupin Limited | 2.04% |
| Gland Pharma Limited | 1.82% |
| One 97 Communications Limited | 1.77% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HSBC Equity Savings | HSBC Large & Mid Cap |
|---|---|---|
| Equity | 73.3% | 97.9% |
| Debt | 21.1% | 0.0% |
| Cash and others | 5.6% | 2.1% |
Market cap of stocks
| Market cap | HSBC Equity Savings | HSBC Large & Mid Cap |
|---|---|---|
| Large Cap | 49.2% | 35.4% |
| Mid Cap | 15.9% | 40.4% |
| Small Cap | 7.2% | 16.8% |
| Not on AMFI's list | 1.1% | 5.3% |
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 Equity Savings | HSBC Large & Mid Cap |
|---|---|---|
| Banks | 24.6% | 17.5% |
| Electrical Equipment | 4.5% | 13.0% |
| Retailing | 4.2% | 11.2% |
| Pharmaceuticals & Biotechnology | 2.7% | 8.6% |
| Finance | 4.2% | 7.2% |
| Automobiles | 2.8% | 5.1% |
| Capital Markets | 3.8% | 4.7% |
| Ferrous Metals | 2.9% | 2.2% |
The six largest sectors of each fund's stocks, % of the fund.
HSBC Equity Savings vs HSBC Large & Mid Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HSBC Equity Savings Fund | HSBC Large & Mid Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.41% | 1.35% |
| Base expense ratio (Direct) | 0.51% | 0.66% |
| Total expense ratio (Regular) | 2.40% | 2.43% |
| Base expense ratio (Regular) | 1.35% | 1.58% |
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 Equity Savings with
HSBC Equity Savings Fund vs HSBC Large & Mid Cap Fund: Frequently Asked Questions
What is the difference between HSBC Equity Savings Fund and HSBC Large & Mid Cap Fund?
HSBC Equity Savings Fund is an Equity Savings fund, HSBC Large & Mid Cap Fund is a Large & Mid Cap fund, run by HSBC Mutual Fund. Their portfolios overlap 34.6%. HSBC Equity Savings Fund charges 1.41% a year and HSBC Large & Mid Cap Fund 1.35%.
Which has given higher returns, HSBC Equity Savings Fund or HSBC Large & Mid Cap Fund?
Over 1 year: HSBC Equity Savings Fund +6.04%, HSBC Large & Mid Cap Fund +3.59%. Over 3 years: HSBC Equity Savings Fund +12.81% a year, HSBC Large & Mid Cap Fund +17.14% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HSBC Equity Savings Fund or HSBC Large & Mid Cap Fund?
HSBC Large & Mid Cap Fund charges less: 1.35% a year against 1.41%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HSBC Equity Savings Fund and HSBC Large & Mid Cap Fund overlap?
34.6%. They hold 44 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, FEDERALBNK. From each fund's latest monthly portfolio.
Which is riskier, HSBC Equity Savings Fund or HSBC Large & Mid Cap Fund?
On SEBI's riskometer, HSBC Equity Savings Fund is rated Low to Moderate and HSBC Large & Mid Cap Fund Very High. Over 3 years, the standard deviation of daily returns was 7.16% and 17.58% a year.
Which is better for SIP, HSBC Equity Savings Fund or HSBC Large & Mid Cap Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹4,25,484 in HSBC Equity Savings Fund (XIRR 9.1% a year) and ₹4,25,879 in HSBC Large & Mid Cap Fund (XIRR 9.1% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both HSBC Equity Savings Fund and HSBC Large & Mid Cap Fund?
Yes. 34.6% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages HSBC Equity Savings Fund and HSBC Large & Mid Cap Fund?
HSBC Equity Savings Fund: Cheenu Gupta, Praveen Ayathan, Mahesh Chhabria, Mohd. Asif Rizwi, Mayank Chaturvedi, Dipan S. Parikh. HSBC Large & Mid Cap Fund: Cheenu Gupta, Mayank Chaturvedi, Dipan S. Parikh.
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.