HSBC Flexi Cap Fund vs HSBC India Export Opportunities Fund
Direct Plan, Growth option · Data as on 30-10-2026
HSBC Flexi Cap Fund is a Flexi Cap fund and HSBC India Export Opportunities Fund is a Thematic fund. In the year to 30-10-2026, HSBC Flexi Cap Fund (Direct) returned −1.6% and HSBC India Export Opportunities Fund (Direct) returned 13.1%. HSBC Flexi Cap Fund charges 1.31% a year and HSBC India Export Opportunities Fund 1.05% (Direct plans). Their portfolios overlap 35.4%: they hold 28 of the same securities.
HSBC India Export Opportunities Fund
Thematic
- 1 year return
- 13.1%
- Expense ratio
- 1.05%
- NAV
- ₹11.51
Which is better, HSBC Flexi Cap or HSBC India Export Opportunities? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HSBC India Export Opportunities returned more over 1 year: 13.1% against −1.6%.
- HSBC India Export Opportunities costs less: 1.05% a year against 1.31% (Direct plans).
- HSBC Flexi Cap fell less in its worst fall since 30-09-2024: −20.1% against −20.6%.
- HSBC Flexi Cap is the larger fund: ₹5,749 Cr against ₹1,303 Cr.
- Their portfolios overlap 35.4%: 28 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 Flexi Cap Fund | HSBC India Export Opportunities Fund |
|---|---|---|
| Fund house | HSBC Mutual Fund | HSBC Mutual Fund |
| Category | Flexi Cap | Thematic |
| AUM | ₹5,749 Cr (30-09-2026) | ₹1,303 Cr (30-09-2026) |
| NAV | ₹248.80 (Direct) | ₹11.51 (Direct) |
| Expense ratio (Direct) | 1.31% | 1.05% |
| Expense ratio (Regular) | 2.10% | 2.38% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | Nifty 500 TRI |
| Launch date | 24-02-2004 | 25-09-2024 |
| Minimum investment | Rs. 5,000 per application | ₹5,000 |
| Lock in | None | None |
| Fund managers | Abhishek Gupta, Mayank Chaturvedi, Dipan S. Parikh | Abhishek Gupta, Siddharth Vora, Mayank Chaturvedi, Dipan S. Parikh |
| Exit load | Exit load for units in excess of 10% of the investment,1% will be charged for redemption within 1 year. | Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 1 year. |
HSBC Flexi Cap vs HSBC India Export Opportunities: 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 Flexi Cap Fund (Direct) | −2.94% | −2.70% | +1.11% | −1.57% | +14.84% | +11.82% | +12.72% |
| HSBC India Export Opportunities Fund (Direct) | −2.48% | +1.57% | +14.78% | +13.09% | -- | -- | -- |
| Flexi Cap average | −1.62% | −4.17% | +1.00% | −3.58% | +12.37% | +10.04% | +13.13% |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | -- | -- | -- |
Category average: the average of the 46 Flexi Cap funds and the 235 Thematic funds, same plan type.
HSBC Flexi Cap vs HSBC India Export Opportunities: Year-wise Returns
| Year | Flexi CapHSBC Flexi Cap | India Export OpportunitiesHSBC India Export Opportunities | Nifty 500 TRI |
|---|---|---|---|
| 2026to date | −0.04% | +12.08% | −7.51% |
| 2025 | +2.15% | +2.26% | +7.76% |
| 2024 | +29.58% | -- | +16.24% |
| 2023 | +32.84% | -- | +26.91% |
| 2022 | −3.48% | -- | +4.25% |
| 2021 | +35.51% | -- | +31.60% |
HSBC Flexi Cap vs HSBC India Export Opportunities: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of both
Rolling returns
Every 1-year holding period, 265 of them, one for each trading day from 30-09-2025 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 Flexi Cap Fund (Direct)
HSBC India Export Opportunities Fund (Direct)
Nifty 500 TRI
to
Oct 2025Jan 2025
to
Jan 2026Mar 2025
to
Mar 2026May 2025
to
May 2026Jul 2025
to
Jul 2026Sept 2025
to
Sept 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 Flexi Cap | 12.1 | 40.0 | 30.9 | 14.0 | 3.0 | 0.0 | 0.0 | 5.4% | 4.8% | −4.0% | 18.0% | 70% |
| HSBC India Export Opportunities | 9.1 | 20.0 | 16.2 | 30.2 | 10.6 | 12.1 | 1.9 | 10.4% | 10.8% | −3.4% | 28.2% | 62% |
| Nifty 500 TRI | 26.0 | 31.7 | 31.3 | 8.7 | 2.3 | 0.0 | 0.0 | 3.6% | 3.2% | −9.0% | 15.9% | -- |
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 500 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 30-09-2024. Past returns do not promise future returns.
HSBC Flexi Cap vs HSBC India Export Opportunities: 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 02-09-2024 to 30-10-2026: 26 instalments, ₹2,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HSBC Flexi CapHSBC Flexi Cap Fund (Direct) | ₹2,60,000 | ₹2,68,387 | ₹8,387 | 2.9% |
| HSBC India Export OpportunitiesHSBC India Export Opportunities Fund (Direct) | ₹2,60,000 | ₹3,00,003 | ₹40,003 | 13.4% |
HSBC Flexi CapHSBC Flexi Cap Fund (Direct)
HSBC India Export OpportunitiesHSBC India Export Opportunities 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 Flexi Cap vs HSBC India Export Opportunities: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HSBC Flexi Cap Fund (Direct) | HSBC India Export Opportunities Fund (Direct) |
|---|---|---|
| Return (CAGR) | −1.57% | +13.09% |
| Standard deviation | 16.05% | 16.43% |
| Sharpe ratio | -0.42 | 0.48 |
| Sortino ratio | -0.57 | 0.68 |
| Maximum drawdown | −14.9% (31-03-2026) | −13.6% (23-03-2026) |
| Beta | 1.08 | 1.02 |
| Alpha | +6.75% | +20.63% |
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 Flexi Cap Fund (Direct) | HSBC India Export Opportunities Fund (Direct) |
|---|---|---|
| Return (CAGR) | +14.46% | +7.08% |
| Standard deviation | 16.75% | 15.95% |
| Sharpe ratio | 0.50 | 0.09 |
| Sortino ratio | 0.68 | 0.12 |
| Maximum drawdown | −39.8% (23-03-2020) | −20.6% (07-04-2025) |
| Beta | 1.03 | 1.01 |
| Alpha | +1.47% | +11.07% |
From daily NAVs, 02-01-2013 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 Flexi Cap Fund (Direct)
HSBC India Export Opportunities Fund (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HSBC Flexi Cap Fund (Direct) | −20.1% | 16-12-2024 | 28-02-2025 | 03-11-2025 | 8 months | −7.5% |
| HSBC India Export Opportunities Fund (Direct) | −20.6% | 11-12-2024 | 07-04-2025 | 07-05-2026 | 13 months | −6.2% |
| Nifty 500 TRI | −17.8% | 01-10-2024 | 28-02-2025 | 02-01-2026 | 10 months | −8.4% |
From daily values since 30-09-2024, 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 Flexi Cap Fund (Direct)
HSBC India Export Opportunities Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| HSBC Flexi Cap Fund (Direct) | 124% | 103% | 6.29% |
| HSBC India Export Opportunities Fund (Direct) | 129% | 75% | 8.89% |
From month-end values since 30-09-2024. 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 Flexi Cap vs HSBC India Export Opportunities: Portfolio Overlap
From each fund's latest monthly portfolio: HSBC Flexi Cap Fund, September 2026; HSBC India Export Opportunities Fund, September 2026
Holdings in common
- Overlap
- 35.4%
- Held by both
- 28
- Only in HSBC Flexi Cap
- 56
- Only in HSBC India Export Opportunities
- 23
| Security | % of HSBC Flexi Cap | % of HSBC India Export Opportunities |
|---|---|---|
| Reliance Industries Limited | 2.47% | 3.27% |
| TD Power Systems Limited | 2.31% | 2.39% |
| Samvardhana Motherson International Ltd | 1.91% | 1.85% |
| Bharti Airtel Limited | 1.79% | 2.14% |
| Hindalco Industries Limited | 1.70% | 3.37% |
| Larsen & Toubro Limited | 1.50% | 2.99% |
| Kotak Mahindra Bank Limited | 2.22% | 1.49% |
| Tech Mahindra Limited | 1.40% | 2.03% |
| WOCKHARDT LTD | 1.32% | 2.56% |
| Ather Energy Limited | 1.32% | 1.84% |
| RBL Bank Limited | 1.27% | 1.24% |
| Jyoti Cnc Automation Ltd | 1.22% | 1.89% |
| Shriram Finance Limited | 1.45% | 1.21% |
| Lenskart Solutions Limited | 1.20% | 2.75% |
| GE Vernova T&D India Limited | 1.15% | 2.16% |
| Billionbrains Garage Ventures Ltd. | 1.10% | 1.32% |
| TVS Motor Company Limited | 1.09% | 2.57% |
| MphasiS Limited | 1.09% | 1.07% |
| Divi''s Laboratories Limited | 1.03% | 3.86% |
| Sun Pharmaceutical Industries Limited | 1.02% | 2.10% |
| InterGlobe Aviation Limited | 1.01% | 1.07% |
| Diamond Power Infrastructure Limited | 0.92% | 1.02% |
| Varun Beverages Limited | 0.92% | 1.43% |
| Tata Consumer Products Limited | 0.96% | 0.90% |
| LTM Limited | 0.84% | 0.90% |
| Lupin Limited | 0.82% | 1.20% |
| State Bank of India | 1.80% | 0.80% |
| Pearl Global Industries Limited | 0.68% | 4.93% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 35.4% means 35.4% 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 Flexi Cap Fund
| Security | % of fund |
|---|---|
| ICICI Bank Limited | 3.89% |
| Karnataka Bank Ltd | 2.11% |
| Multi Commodity Exchange of India Ltd. | 1.99% |
| Coforge Limited | 1.95% |
| Tata Steel Limited | 1.84% |
Largest holdings only in HSBC India Export Opportunities Fund
| Security | % of fund |
|---|---|
| AVALON TECHNOLOGIES LIMITED | 6.64% |
| Garware Hi-Tech Films Ltd | 3.04% |
| INDO COUNT INDUSTRIES LIMITED | 2.38% |
| Torrent Pharmaceuticals Limited | 2.27% |
| Aarti Industries Limited | 2.24% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HSBC Flexi Cap | HSBC India Export Opportunities |
|---|---|---|
| Equity | 98.8% | 97.5% |
| Debt | 0.0% | 0.0% |
| Cash and others | 1.2% | 2.5% |
Market cap of stocks
| Market cap | HSBC Flexi Cap | HSBC India Export Opportunities |
|---|---|---|
| Large Cap | 45.9% | 39.4% |
| Mid Cap | 19.7% | 13.6% |
| Small Cap | 27.5% | 42.1% |
| Not on AMFI's list | 5.7% | 2.4% |
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 Flexi Cap | HSBC India Export Opportunities |
|---|---|---|
| Banks | 15.2% | 3.5% |
| Electrical Equipment | 8.4% | 13.2% |
| Pharmaceuticals & Biotechnology | 4.8% | 13.1% |
| Finance | 9.4% | 1.2% |
| Textiles & Apparels | 2.2% | 8.9% |
| Automobiles | 3.3% | 7.0% |
| IT - Software | 6.7% | 4.0% |
| Non - Ferrous Metals | 1.7% | 6.5% |
| Capital Markets | 6.0% | 2.4% |
| Industrial Products | 1.7% | 5.8% |
The six largest sectors of each fund's stocks, % of the fund.
HSBC Flexi Cap vs HSBC India Export Opportunities: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HSBC Flexi Cap Fund | HSBC India Export Opportunities Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.31% | 1.05% |
| Base expense ratio (Direct) | 0.92% | 0.73% |
| Total expense ratio (Regular) | 2.10% | 2.38% |
| Base expense ratio (Regular) | 1.59% | 1.86% |
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 Flexi Cap with
Compare HSBC India Export Opportunities with
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- HSBC India Export Opportunities vs HDFC Pharma and Healthcare
- HSBC India Export Opportunities vs SBI Healthcare Opportunities
- HSBC India Export Opportunities vs Aditya Birla Sun Life International Equity
HSBC Flexi Cap Fund vs HSBC India Export Opportunities Fund: Frequently Asked Questions
What is the difference between HSBC Flexi Cap Fund and HSBC India Export Opportunities Fund?
HSBC Flexi Cap Fund is a Flexi Cap fund, HSBC India Export Opportunities Fund is a Thematic fund, run by HSBC Mutual Fund. Their portfolios overlap 35.4%. HSBC Flexi Cap Fund charges 1.31% a year and HSBC India Export Opportunities Fund 1.05%.
Which has given higher returns, HSBC Flexi Cap Fund or HSBC India Export Opportunities Fund?
Over 1 year: HSBC Flexi Cap Fund −1.57%, HSBC India Export Opportunities Fund +13.09%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HSBC Flexi Cap Fund or HSBC India Export Opportunities Fund?
HSBC India Export Opportunities Fund charges less: 1.05% a year against 1.31%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HSBC Flexi Cap Fund and HSBC India Export Opportunities Fund overlap?
35.4%. They hold 28 of the same securities, the largest shared ones being RELIANCE, TDPOWERSYS, MOTHERSON. From each fund's latest monthly portfolio.
Which is riskier, HSBC Flexi Cap Fund or HSBC India Export Opportunities Fund?
On SEBI's riskometer, HSBC Flexi Cap Fund is rated Very High and HSBC India Export Opportunities Fund Very High. Over 1 years, the standard deviation of daily returns was 16.05% and 16.43% a year.
Can I invest in both HSBC Flexi Cap Fund and HSBC India Export Opportunities Fund?
Yes. 35.4% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages HSBC Flexi Cap Fund and HSBC India Export Opportunities Fund?
HSBC Flexi Cap Fund: Abhishek Gupta, Mayank Chaturvedi, Dipan S. Parikh. HSBC India Export Opportunities Fund: Abhishek Gupta, Siddharth Vora, 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.