HSBC Financial Services Fund vs Kotak Banking And Financial Services Fund
Direct Plan, Growth option · Data as on 30-10-2026
HSBC Financial Services Fund is a Thematic fund and Kotak Banking And Financial Services Fund is a Thematic fund. In the year to 30-10-2026, HSBC Financial Services Fund (Direct) returned −1.9% and Kotak Banking And Financial Services Fund (Direct) returned −4.5%. HSBC Financial Services Fund charges 0.99% a year and Kotak Banking And Financial Services Fund 0.81% (Direct plans). Their portfolios overlap 55.1%: they hold 18 of the same securities.
HSBC Financial Services Fund
Thematic
- 1 year return
- −1.9%
- Expense ratio
- 0.99%
- NAV
- ₹11.77
Kotak Banking And Financial Services Fund
Thematic
- 1 year return
- −4.5%
- Expense ratio
- 0.81%
- NAV
- ₹15.90
Which is better, HSBC Financial Services or Kotak Banking And Financial Services? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HSBC Financial Services returned more over 1 year: −1.9% against −4.5%.
- Kotak Banking And Financial Services costs less: 0.81% a year against 0.99% (Direct plans).
- HSBC Financial Services fell less in its worst fall since 04-03-2025: −14.8% against −16.7%.
- Kotak Banking And Financial Services holds more in large companies: 65.3% of the fund in large caps against 51.5%.
- Kotak Banking And Financial Services is the larger fund: ₹1,448 Cr against ₹903 Cr.
- Their portfolios overlap 55.1%: 18 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 Financial Services Fund | Kotak Banking And Financial Services Fund |
|---|---|---|
| Fund house | HSBC Mutual Fund | Kotak Mahindra Mutual Fund |
| Category | Thematic | Thematic |
| AUM | ₹903 Cr (30-09-2026) | ₹1,448 Cr (30-09-2026) |
| NAV | ₹11.77 (Direct) | ₹15.90 (Direct) |
| Expense ratio (Direct) | 0.99% | 0.81% |
| Expense ratio (Regular) | 2.44% | 2.25% |
| Riskometer | Very High | Very High |
| Benchmark | BSE Financial Services TRI | Nifty Financial Services TRI |
| Launch date | 27-02-2025 | 27-02-2023 |
| Minimum investment | ₹5,000 | ₹100 |
| Lock in | None | None |
| Fund managers | Gautam Bhupal, Mayank Chaturvedi, Dipan S. Parikh | Shibani Sircar Kurian, Abhishek Bisen |
| Exit load | Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 90 days. | 0.5% for redemption within 30 Days |
HSBC Financial Services vs Kotak Banking And Financial Services: 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 Financial Services Fund (Direct) | −2.86% | −6.79% | −4.31% | −1.91% | -- | -- | -- |
| Kotak Banking And Financial Services Fund (Direct) | −1.46% | −7.32% | −2.26% | −4.49% | +11.87% | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | +13.76% | -- | -- |
Category average: the average of the 235 Thematic funds, same plan type.
HSBC Financial Services vs Kotak Banking And Financial Services: Year-wise Returns
| Year | HSBCHSBC Financial Services | Kotak Banking AndKotak Banking And Financial Services |
|---|---|---|
| 2026to date | −4.56% | −5.92% |
| 2025 | -- | +15.92% |
| 2024 | -- | +14.11% |
HSBC Financial Services vs Kotak Banking And Financial Services: Rolling Returns
Every holding period of both funds, against BSE Financial Services TRI, the benchmark of HSBC Financial Services Fund
Rolling returns
Every 1-year holding period, 162 of them, one for each trading day from 04-03-2026 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 Financial Services Fund (Direct)
Kotak Banking And Financial Services Fund (Direct)
BSE Financial Services TRI
to
Mar 2026May 2025
to
May 2026Jun 2025
to
Jun 2026Jul 2025
to
Jul 2026Sept 2025
to
Sept 2026Oct 2025
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 Financial Services | 3.7 | 10.5 | 35.8 | 32.1 | 17.3 | 0.6 | 0.0 | 10.1% | 10.0% | −3.5% | 20.9% | 100% |
| Kotak Banking And Financial Services | 9.3 | 30.2 | 38.9 | 16.7 | 3.1 | 1.9 | 0.0 | 6.4% | 7.0% | −6.5% | 22.9% | 100% |
| BSE Financial Services TRI | 46.9 | 40.7 | 4.9 | 4.9 | 2.5 | 0.0 | 0.0 | 0.5% | 0.2% | −11.1% | 19.6% | -- |
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 BSE Financial Services 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 04-03-2025. Past returns do not promise future returns.
HSBC Financial Services vs Kotak Banking And Financial Services: 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 04-03-2025 to 30-10-2026: 20 instalments, ₹2,00,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HSBC Financial ServicesHSBC Financial Services Fund (Direct) | ₹2,00,000 | ₹2,00,701 | ₹701 | 0.4% |
| Kotak Banking And Financial ServicesKotak Banking And Financial Services Fund (Direct) | ₹2,00,000 | ₹1,98,130 | −₹1,870 | −1.1% |
HSBC Financial ServicesHSBC Financial Services Fund (Direct)
Kotak Banking And Financial ServicesKotak Banking And Financial Services 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 Financial Services vs Kotak Banking And Financial Services: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HSBC Financial Services Fund (Direct) | Kotak Banking And Financial Services Fund (Direct) |
|---|---|---|
| Return (CAGR) | −1.91% | −4.49% |
| Standard deviation | 18.35% | 17.96% |
| Sharpe ratio | -0.39 | -0.54 |
| Sortino ratio | -0.55 | -0.76 |
| Maximum drawdown | −14.8% (30-03-2026) | −16.7% (30-03-2026) |
| Beta | 1.03 | 0.99 |
| Alpha | +8.40% | +4.30% |
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 Financial Services Fund (Direct) | Kotak Banking And Financial Services Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.27% | +13.36% |
| Standard deviation | 16.88% | 15.60% |
| Sharpe ratio | 0.29 | 0.46 |
| Sortino ratio | 0.41 | 0.65 |
| Maximum drawdown | −14.8% (30-03-2026) | −16.7% (30-03-2026) |
| Beta | 1.01 | 0.97 |
| Alpha | +3.86% | +3.86% |
From daily NAVs, 04-03-2025 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.
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 Financial Services Fund (Direct)
Kotak Banking And Financial Services Fund (Direct)
BSE Financial Services TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HSBC Financial Services Fund (Direct) | −14.8% | 18-02-2026 | 30-03-2026 | 07-05-2026 | 38 days | −10.6% |
| Kotak Banking And Financial Services Fund (Direct) | −16.7% | 18-02-2026 | 30-03-2026 | Not yet | -- | −9.7% |
| BSE Financial Services TRI | −17.5% | 18-02-2026 | 30-03-2026 | Not yet | -- | −12.0% |
From daily values since 04-03-2025, 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 Financial Services Fund (Direct)
Kotak Banking And Financial Services Fund (Direct)
BSE Financial Services TRI
Against BSE Financial Services TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| HSBC Financial Services Fund (Direct) | 122% | 96% | 5.63% |
| Kotak Banking And Financial Services Fund (Direct) | 107% | 94% | 2.42% |
From month-end values since 04-03-2025. 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 Financial Services vs Kotak Banking And Financial Services: Portfolio Overlap
From each fund's latest monthly portfolio: HSBC Financial Services Fund, September 2026; Kotak Banking And Financial Services Fund, September 2026
Holdings in common
- Overlap
- 55.1%
- Held by both
- 18
- Only in HSBC Financial Services
- 19
- Only in Kotak Banking And Financial Services
- 17
| Security | % of HSBC Financial Services | % of Kotak Banking And Financial Services |
|---|---|---|
| ICICI Bank Limited | 9.31% | 12.67% |
| HDFC Bank Limited | 9.30% | 11.28% |
| Axis Bank Limited | 5.09% | 7.36% |
| Shriram Finance Limited | 4.81% | 4.83% |
| State Bank of India | 4.45% | 8.31% |
| Kotak Mahindra Bank Limited | 4.60% | 3.69% |
| Cholamandalam Invest & Finance Co Ltd | 2.57% | 2.52% |
| Karur Vysya Bank Limited | 3.24% | 2.32% |
| Billionbrains Garage Ventures Ltd. | 3.84% | 2.27% |
| RBL Bank Limited | 2.40% | 1.76% |
| Piramal Finance Ltd | 1.75% | 1.97% |
| Pine Labs Limited | 2.41% | 1.73% |
| Nippon Life India Asset Management Ltd | 4.91% | 1.72% |
| Prudent Corporate Advisory Services Ltd | 1.92% | 1.26% |
| One 97 Communications Limited | 1.67% | 1.25% |
| Bajaj Finance Limited | 1.06% | 6.04% |
| Home First Finance Company India Limited | 1.89% | 0.76% |
| The Federal Bank Limited | 2.48% | 0.01% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 55.1% means 55.1% 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 Financial Services Fund
| Security | % of fund |
|---|---|
| ICICI Prudential AMC Ltd | 3.42% |
| HDFC Asset Management Company Limited | 3.08% |
| Motilal Oswal Financial Services Limited | 2.46% |
| PNB Housing Finance Limited | 2.37% |
| PB Fintech Limited | 2.07% |
Largest holdings only in Kotak Banking And Financial Services Fund
| Security | % of fund |
|---|---|
| POONAWALLA FINCORP LIMITED | 2.52% |
| INDUSIND BANK LTD. | 2.51% |
| Ujjivan Small Finance Bank Ltd. | 2.40% |
| BANK OF MAHARASHTRA | 2.17% |
| BSE LTD | 2.11% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HSBC Financial Services | Kotak Banking And Financial Services |
|---|---|---|
| Equity | 95.7% | 98.8% |
| Debt | 0.0% | 0.0% |
| Cash and others | 4.3% | 1.2% |
Market cap of stocks
| Market cap | HSBC Financial Services | Kotak Banking And Financial Services |
|---|---|---|
| Large Cap | 51.5% | 65.3% |
| Mid Cap | 21.2% | 14.9% |
| Small Cap | 22.9% | 16.1% |
| Not on AMFI's list | 0.0% | 2.6% |
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 Financial Services | Kotak Banking And Financial Services |
|---|---|---|
| Banks | 41.9% | 60.0% |
| Capital Markets | 27.9% | 11.7% |
| Finance | 18.5% | 21.4% |
| Financial Technology (Fintech) | 7.0% | 3.0% |
| Insurance | 0.0% | 2.7% |
| Commercial Services & Supplies | 0.5% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
HSBC Financial Services vs Kotak Banking And Financial Services: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HSBC Financial Services Fund | Kotak Banking And Financial Services Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.99% | 0.81% |
| Base expense ratio (Direct) | 0.74% | 0.60% |
| Total expense ratio (Regular) | 2.44% | 2.25% |
| Base expense ratio (Regular) | 1.97% | 1.82% |
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 Financial Services with
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- Kotak Banking And Financial Services vs Aditya Birla Sun Life International Equity
HSBC Financial Services Fund vs Kotak Banking And Financial Services Fund: Frequently Asked Questions
What is the difference between HSBC Financial Services Fund and Kotak Banking And Financial Services Fund?
HSBC Financial Services Fund is a Thematic fund, Kotak Banking And Financial Services Fund is a Thematic fund, run by HSBC Mutual Fund and Kotak Mahindra Mutual Fund. Their portfolios overlap 55.1%. HSBC Financial Services Fund charges 0.99% a year and Kotak Banking And Financial Services Fund 0.81%.
Which has given higher returns, HSBC Financial Services Fund or Kotak Banking And Financial Services Fund?
Over 1 year: HSBC Financial Services Fund −1.91%, Kotak Banking And Financial Services Fund −4.49%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HSBC Financial Services Fund or Kotak Banking And Financial Services Fund?
Kotak Banking And Financial Services Fund charges less: 0.81% a year against 0.99%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HSBC Financial Services Fund and Kotak Banking And Financial Services Fund overlap?
55.1%. They hold 18 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, AXISBANK. From each fund's latest monthly portfolio.
Which is riskier, HSBC Financial Services Fund or Kotak Banking And Financial Services Fund?
On SEBI's riskometer, HSBC Financial Services Fund is rated Very High and Kotak Banking And Financial Services Fund Very High. Over 1 years, the standard deviation of daily returns was 18.35% and 17.96% a year.
Can I invest in both HSBC Financial Services Fund and Kotak Banking And Financial Services Fund?
Yes. 55.1% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages HSBC Financial Services Fund and Kotak Banking And Financial Services Fund?
HSBC Financial Services Fund: Gautam Bhupal, Mayank Chaturvedi, Dipan S. Parikh. Kotak Banking And Financial Services Fund: Shibani Sircar Kurian, Abhishek Bisen.
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.