HSBC Focused Fund vs ITI Focused Fund
Direct Plan, Growth option · Data as on 30-10-2026
HSBC Focused Fund and ITI Focused Fund are both Focused funds. In the 3 years to 30-10-2026, HSBC Focused Fund (Direct) returned 13.4% a year and ITI Focused Fund (Direct) returned 15.8% a year. HSBC Focused Fund charges 1.09% a year and ITI Focused Fund 0.90% (Direct plans). Their portfolios overlap 25.6%: they hold 7 of the same securities.
Which is better, HSBC Focused or ITI Focused? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- ITI Focused returned more over 3 years: 15.8% a year against 13.4%.
- HSBC Focused returned more over 1 year: 0.4% against −0.7%.
- ITI Focused costs less: 0.90% a year against 1.09% (Direct plans).
- HSBC Focused swung less over 3 years: a standard deviation of 15.8% a year against 16.1%.
- ITI Focused fell less in its worst fall since 21-06-2023: −18.4% against −20.7%.
- HSBC Focused is the larger fund: ₹1,751 Cr against ₹607 Cr.
- Their portfolios overlap 25.6%: 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 Focused Fund | ITI Focused Fund |
|---|---|---|
| Fund house | HSBC Mutual Fund | ITI Mutual Fund |
| Category | Focused | Focused |
| AUM | ₹1,751 Cr (30-09-2026) | ₹607 Cr (30-09-2026) |
| NAV | ₹27.73 (Direct) | ₹16.24 (Direct) |
| Expense ratio (Direct) | 1.09% | 0.90% |
| Expense ratio (Regular) | 2.27% | 2.59% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | Nifty 500 TRI |
| Launch date | 22-07-2020 | 19-06-2023 |
| Minimum investment | Rs. 5,000 per application | ₹5,000 |
| Lock in | None | None |
| Fund managers | Neelotpal Sahai, Sonal Gupta, Mayank Chaturvedi, Dipan S. Parikh | Dhimant Shah, Alok Ranjan |
| 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 0.50%, if redeemed within 3 months. |
HSBC Focused vs ITI Focused: 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 Focused Fund (Direct) | −3.55% | −4.00% | +1.26% | +0.43% | +13.37% | +10.76% | -- |
| ITI Focused Fund (Direct) | −3.18% | −5.95% | −1.75% | −0.70% | +15.80% | -- | -- |
| Focused average | −1.00% | −4.12% | +1.39% | −3.09% | +12.30% | -- | -- |
Category average: the average of the 28 Focused funds, same plan type.
HSBC Focused vs ITI Focused: Year-wise Returns
| Year | HSBCHSBC Focused | ITIITI Focused | Nifty 500 TRI |
|---|---|---|---|
| 2026to date | −0.98% | −2.51% | −7.51% |
| 2025 | +3.01% | +9.68% | +7.76% |
| 2024 | +24.31% | +26.87% | +16.24% |
| 2023 | +30.90% | -- | +26.91% |
| 2022 | −0.42% | -- | +4.25% |
| 2021 | +31.94% | -- | +31.60% |
HSBC Focused vs ITI Focused: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of both
Rolling returns
Every 3-year holding period, 89 of them, one for each trading day from 22-06-2026 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 Focused Fund (Direct)
ITI Focused Fund (Direct)
Nifty 500 TRI
to
Jul 2026Jul 2023
to
Jul 2026Aug 2023
to
Aug 2026Sept 2023
to
Sept 2026Sept 2023
to
Sept 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 Focused | 0.0 | 0.0 | 0.0 | 41.6 | 58.4 | 0.0 | 0.0 | 15.2% | 15.3% | 12.2% | 17.2% | 100% |
| ITI Focused | 0.0 | 0.0 | 0.0 | 2.2 | 71.9 | 25.8 | 0.0 | 18.7% | 19.2% | 14.4% | 21.1% | 100% |
| Nifty 500 TRI | 0.0 | 0.0 | 21.3 | 78.7 | 0.0 | 0.0 | 0.0 | 11.7% | 12.1% | 8.8% | 14.1% | -- |
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 21-06-2023. Past returns do not promise future returns.
HSBC Focused vs ITI Focused: 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 01-06-2023 to 30-10-2026: 41 instalments, ₹4,10,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HSBC FocusedHSBC Focused Fund (Direct) | ₹4,10,000 | ₹4,65,326 | ₹55,326 | 7.4% |
| ITI FocusedITI Focused Fund (Direct) | ₹4,10,000 | ₹4,74,727 | ₹64,727 | 8.6% |
HSBC FocusedHSBC Focused Fund (Direct)
ITI FocusedITI Focused 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 Focused vs ITI Focused: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HSBC Focused Fund (Direct) | ITI Focused Fund (Direct) |
|---|---|---|
| Return (CAGR) | +0.43% | −0.70% |
| Standard deviation | 16.30% | 15.77% |
| Sharpe ratio | -0.30 | -0.38 |
| Sortino ratio | -0.41 | -0.51 |
| Maximum drawdown | −13.9% (23-03-2026) | −13.6% (23-03-2026) |
| Beta | 1.07 | 1.02 |
| Alpha | +8.60% | +6.87% |
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 Focused Fund (Direct) | ITI Focused Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.37% | +15.80% |
| Standard deviation | 15.80% | 16.09% |
| Sharpe ratio | 0.46 | 0.61 |
| Sortino ratio | 0.64 | 0.82 |
| Maximum drawdown | −20.7% (03-03-2025) | −18.4% (28-02-2025) |
| Beta | 1.04 | 1.06 |
| Alpha | +3.00% | +5.33% |
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 Focused Fund (Direct) | ITI Focused Fund (Direct) |
|---|---|---|
| Return (CAGR) | +17.75% | +15.62% |
| Standard deviation | 15.57% | 15.45% |
| Sharpe ratio | 0.80 | 0.62 |
| Sortino ratio | 1.11 | 0.83 |
| Maximum drawdown | −21.2% (17-06-2022) | −18.4% (28-02-2025) |
| Beta | 1.03 | 1.05 |
| Alpha | +1.22% | +5.07% |
From daily NAVs, 29-07-2020 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 Focused Fund (Direct)
ITI Focused 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 Focused Fund (Direct) | −20.7% | 11-12-2024 | 03-03-2025 | 23-12-2025 | 10 months | −8.8% |
| ITI Focused Fund (Direct) | −18.4% | 27-09-2024 | 28-02-2025 | 26-06-2025 | 4 months | −8.6% |
| Nifty 500 TRI | −18.6% | 26-09-2024 | 28-02-2025 | Not yet | -- | −8.8% |
From daily values since 21-06-2023, 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 Focused Fund (Direct)
ITI Focused Fund (Direct)
Nifty 500 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 Focused Fund (Direct)
ITI Focused Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| HSBC Focused Fund (Direct) | 113% | 99% | 6.10% |
| ITI Focused Fund (Direct) | 114% | 90% | 4.81% |
From month-end values since 21-06-2023. 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 Focused vs ITI Focused: Portfolio Overlap
From each fund's latest monthly portfolio: HSBC Focused Fund, September 2026; ITI Focused Fund, September 2026
Holdings in common
- Overlap
- 25.6%
- Held by both
- 7
- Only in HSBC Focused
- 21
- Only in ITI Focused
- 22
| Security | % of HSBC Focused | % of ITI Focused |
|---|---|---|
| ICICI Bank Limited | 7.78% | 5.03% |
| Multi Commodity Exchange of India Ltd. | 4.24% | 4.34% |
| HDFC Bank Limited | 6.48% | 4.09% |
| Reliance Industries Limited | 4.07% | 4.20% |
| Shriram Finance Limited | 4.35% | 3.21% |
| Larsen & Toubro Limited | 4.30% | 2.83% |
| Tata Consumer Products Limited | 2.17% | 2.67% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 25.6% means 25.6% 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 Focused Fund
| Security | % of fund |
|---|---|
| Shadowfax Technologies Limited | 4.00% |
| TVS Motor Company Limited | 3.99% |
| Infosys Limited | 3.69% |
| Nippon Life India Asset Management Ltd | 3.67% |
| Eternal Limited | 3.66% |
Largest holdings only in ITI Focused Fund
| Security | % of fund |
|---|---|
| KRN Heat Exchanger And Refrigeration Limited | 4.76% |
| Wockhardt Limited | 4.66% |
| Graphite India Limited | 4.17% |
| Vedanta Aluminium Metal Limited | 4.05% |
| Solar Industries India Limited | 4.00% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HSBC Focused | ITI Focused |
|---|---|---|
| Equity | 96.5% | 93.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 3.5% | 7.0% |
Market cap of stocks
| Market cap | HSBC Focused | ITI Focused |
|---|---|---|
| Large Cap | 45.7% | 51.4% |
| Mid Cap | 31.6% | 18.6% |
| Small Cap | 10.7% | 23.1% |
| Not on AMFI's list | 8.5% | 0.0% |
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 Focused | ITI Focused |
|---|---|---|
| Banks | 16.8% | 14.9% |
| Industrial Products | 3.0% | 14.8% |
| Electrical Equipment | 9.0% | 3.5% |
| Pharmaceuticals & Biotechnology | 3.0% | 8.0% |
| Capital Markets | 7.9% | 4.3% |
| Healthcare Services | 7.0% | 2.7% |
| Finance | 6.8% | 3.2% |
| Consumer Durables | 6.6% | 2.9% |
| Chemicals & Petrochemicals | 0.0% | 6.5% |
| Petroleum Products | 4.1% | 4.2% |
The six largest sectors of each fund's stocks, % of the fund.
HSBC Focused vs ITI Focused: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HSBC Focused Fund | ITI Focused Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.09% | 0.90% |
| Base expense ratio (Direct) | 0.80% | 0.59% |
| Total expense ratio (Regular) | 2.27% | 2.59% |
| Base expense ratio (Regular) | 1.80% | 2.07% |
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 Focused with
HSBC Focused Fund vs ITI Focused Fund: Frequently Asked Questions
What is the difference between HSBC Focused Fund and ITI Focused Fund?
Both are Focused funds, run by HSBC Mutual Fund and ITI Mutual Fund. Their portfolios overlap 25.6%. HSBC Focused Fund charges 1.09% a year and ITI Focused Fund 0.90%.
Which has given higher returns, HSBC Focused Fund or ITI Focused Fund?
Over 1 year: HSBC Focused Fund +0.43%, ITI Focused Fund −0.70%. Over 3 years: HSBC Focused Fund +13.37% a year, ITI Focused Fund +15.80% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HSBC Focused Fund or ITI Focused Fund?
ITI Focused Fund charges less: 0.90% a year against 1.09%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HSBC Focused Fund and ITI Focused Fund overlap?
25.6%. They hold 7 of the same securities, the largest shared ones being ICICIBANK, MCX, HDFCBANK. From each fund's latest monthly portfolio.
Which is riskier, HSBC Focused Fund or ITI Focused Fund?
On SEBI's riskometer, HSBC Focused Fund is rated Very High and ITI Focused Fund Very High. Over 3 years, the standard deviation of daily returns was 15.80% and 16.09% a year.
Which is better for SIP, HSBC Focused Fund or ITI Focused Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹4,05,344 in HSBC Focused Fund (XIRR 5.9% a year) and ₹4,10,762 in ITI Focused Fund (XIRR 6.7% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both HSBC Focused Fund and ITI Focused Fund?
Yes. 25.6% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages HSBC Focused Fund and ITI Focused Fund?
HSBC Focused Fund: Neelotpal Sahai, Sonal Gupta, Mayank Chaturvedi, Dipan S. Parikh. ITI Focused Fund: Dhimant Shah, Alok Ranjan.
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.