HSBC Infrastructure Fund vs Mirae Asset Infrastructure Fund
Direct Plan, Growth option · Data as on 30-10-2026
HSBC Infrastructure Fund is a Sectoral fund and Mirae Asset Infrastructure Fund is a Thematic fund. HSBC Infrastructure Fund charges 1.13% a year and Mirae Asset Infrastructure Fund 0.82% (Direct plans). Their portfolios overlap 38.5%: they hold 19 of the same securities.
Mirae Asset Infrastructure Fund
Thematic
- Expense ratio
- 0.82%
- NAV
- ₹10.79
Which is better, HSBC Infrastructure or Mirae Asset Infrastructure? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Mirae Asset Infrastructure costs less: 0.82% a year against 1.13% (Direct plans).
- HSBC Infrastructure fell less in its worst fall since 08-12-2025: −11.9% against −12.2%.
- HSBC Infrastructure is the larger fund: ₹2,379 Cr against ₹484 Cr.
- Their portfolios overlap 38.5%: 19 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 Infrastructure Fund | Mirae Asset Infrastructure Fund |
|---|---|---|
| Fund house | HSBC Mutual Fund | Mirae Asset Mutual Fund |
| Category | Sectoral | Thematic |
| AUM | ₹2,379 Cr (30-09-2026) | ₹484 Cr (30-09-2026) |
| NAV | ₹53.76 (Direct) | ₹10.79 (Direct) |
| Expense ratio (Direct) | 1.13% | 0.82% |
| Expense ratio (Regular) | 2.15% | 2.64% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty Infrastructure TRI | BSE India Infrastructure TRI |
| Launch date | 27-09-2007 | 05-12-2025 |
| Minimum investment | ₹5,000 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Venugopal Manghat, Gautam Bhupal, Mayank Chaturvedi, Dipan S. Parikh | Bharti Sawant |
| Exit load | Exit load for units in excess of 10% of the investment, 1% will be charged for redemption within 90 days. | Exit load of 1% if redeemed within 1 Month. |
HSBC Infrastructure vs Mirae Asset Infrastructure: 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 Infrastructure Fund (Direct) | −4.83% | −2.12% | −4.42% | +0.36% | +14.81% | -- | -- |
| Mirae Asset Infrastructure Fund (Direct) | −3.97% | −3.58% | +0.70% | -- | -- | -- | -- |
| Sectoral average | −1.70% | −4.49% | +2.30% | −0.58% | +15.61% | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | -- | -- | -- | -- |
Category average: the average of the 20 Sectoral funds and the 235 Thematic funds, same plan type.
HSBC Infrastructure vs Mirae Asset Infrastructure: Year-wise Returns
| Year | HSBCHSBC Infrastructure | Mirae AssetMirae Asset Infrastructure |
|---|---|---|
| 2026to date | +3.25% | +7.12% |
| 2025 | −3.38% | -- |
| 2024 | +29.43% | -- |
| 2023 | +52.22% | -- |
HSBC Infrastructure vs Mirae Asset Infrastructure: Rolling Returns
Every holding period of both funds, against Nifty Infrastructure TRI, the benchmark of HSBC Infrastructure Fund
HSBC Infrastructure vs Mirae Asset Infrastructure: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HSBC Infrastructure Fund (Direct) | Mirae Asset Infrastructure Fund (Direct) |
|---|---|---|
| Return (CAGR) | +18.31% | +10.67% |
| Standard deviation | 17.64% | 18.39% |
| Sharpe ratio | 0.69 | 0.30 |
| Sortino ratio | 0.92 | 0.40 |
| Maximum drawdown | −25.4% (28-02-2025) | −12.2% (30-03-2026) |
| Beta | 1.00 | 0.95 |
| Alpha | +4.15% | +14.32% |
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 Infrastructure Fund (Direct)
Mirae Asset Infrastructure Fund (Direct)
Nifty Infrastructure TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HSBC Infrastructure Fund (Direct) | −11.9% | 22-06-2026 | 23-10-2026 | Not yet | -- | −9.2% |
| Mirae Asset Infrastructure Fund (Direct) | −12.2% | 18-02-2026 | 30-03-2026 | 17-04-2026 | 18 days | −7.3% |
| Nifty Infrastructure TRI | −12.3% | 02-01-2026 | 12-10-2026 | Not yet | -- | −9.3% |
From daily values since 08-12-2025, the first day every fund has.
HSBC Infrastructure vs Mirae Asset Infrastructure: Portfolio Overlap
From each fund's latest monthly portfolio: HSBC Infrastructure Fund, September 2026; Mirae Asset Infrastructure Fund, September 2026
Holdings in common
- Overlap
- 38.5%
- Held by both
- 19
- Only in HSBC Infrastructure
- 30
- Only in Mirae Asset Infrastructure
- 28
| Security | % of HSBC Infrastructure | % of Mirae Asset Infrastructure |
|---|---|---|
| Larsen & Toubro Limited | 6.99% | 5.60% |
| NTPC Limited | 7.68% | 3.76% |
| InterGlobe Aviation Limited | 4.09% | 3.31% |
| TD Power Systems Limited | 3.02% | 2.91% |
| Bharti Airtel Limited | 6.46% | 2.81% |
| Bharat Electronics Limited | 5.79% | 2.50% |
| Kirloskar Oil Engines Ltd | 3.60% | 2.17% |
| Juniper Green Energy Limited | 2.05% | 2.28% |
| ABB India Limited | 1.94% | 1.88% |
| Hindustan Aeronautics Limited | 3.52% | 1.82% |
| TITAGARH RAIL SYSTEMS LIMITED | 1.58% | 1.58% |
| Bharat Heavy Electricals Limited | 1.46% | 3.18% |
| UltraTech Cement Limited | 3.64% | 1.35% |
| Reliance Industries Limited | 4.43% | 1.33% |
| CG Power And Industrial Solutions Ltd | 0.99% | 1.80% |
| Diamond Power Infrastructure Limited | 0.84% | 2.35% |
| Siemens Energy India Limited | 0.84% | 2.03% |
| Delhivery Limited | 0.72% | 1.82% |
| Cummins India Limited | 0.55% | 1.13% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 38.5% means 38.5% 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 Infrastructure Fund
| Security | % of fund |
|---|---|
| Mtar Technologies Limited | 4.67% |
| GE Vernova T&D India Limited | 2.90% |
| Engineers India Limited | 2.19% |
| APL Apollo Tubes Limited | 2.12% |
| Sterlite Technologies Limited | 2.10% |
Largest holdings only in Mirae Asset Infrastructure Fund
| Security | % of fund |
|---|---|
| Adani Ports and Special Economic Zone Ltd. | 5.64% |
| Welspun Corp Ltd. | 3.29% |
| Kusumgar Ltd. | 3.25% |
| Lodha Developers Ltd. | 2.96% |
| JSW Energy Ltd. | 2.87% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HSBC Infrastructure | Mirae Asset Infrastructure |
|---|---|---|
| Equity | 95.8% | 99.1% |
| Debt | 0.0% | 0.0% |
| Cash and others | 4.2% | 0.9% |
Market cap of stocks
| Market cap | HSBC Infrastructure | Mirae Asset Infrastructure |
|---|---|---|
| Large Cap | 53.0% | 45.4% |
| Mid Cap | 9.6% | 12.8% |
| Small Cap | 27.1% | 23.8% |
| Not on AMFI's list | 6.1% | 17.1% |
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 Infrastructure | Mirae Asset Infrastructure |
|---|---|---|
| Electrical Equipment | 20.3% | 17.3% |
| Industrial Products | 14.5% | 9.4% |
| Transport Services | 5.5% | 11.8% |
| Construction | 10.2% | 7.8% |
| Power | 9.7% | 8.9% |
| Aerospace & Defense | 9.3% | 4.3% |
| Transport Infrastructure | 0.0% | 7.3% |
| Telecom - Services | 6.5% | 3.3% |
The six largest sectors of each fund's stocks, % of the fund.
HSBC Infrastructure vs Mirae Asset Infrastructure: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HSBC Infrastructure Fund | Mirae Asset Infrastructure Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.13% | 0.82% |
| Base expense ratio (Direct) | 0.88% | 0.56% |
| Total expense ratio (Regular) | 2.15% | 2.64% |
| Base expense ratio (Regular) | 1.74% | 2.10% |
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 Infrastructure with
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HSBC Infrastructure Fund vs Mirae Asset Infrastructure Fund: Frequently Asked Questions
What is the difference between HSBC Infrastructure Fund and Mirae Asset Infrastructure Fund?
HSBC Infrastructure Fund is a Sectoral fund, Mirae Asset Infrastructure Fund is a Thematic fund, run by HSBC Mutual Fund and Mirae Asset Mutual Fund. Their portfolios overlap 38.5%. HSBC Infrastructure Fund charges 1.13% a year and Mirae Asset Infrastructure Fund 0.82%.
Which has the lower expense ratio, HSBC Infrastructure Fund or Mirae Asset Infrastructure Fund?
Mirae Asset Infrastructure Fund charges less: 0.82% a year against 1.13%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HSBC Infrastructure Fund and Mirae Asset Infrastructure Fund overlap?
38.5%. They hold 19 of the same securities, the largest shared ones being LT, NTPC, INDIGO. From each fund's latest monthly portfolio.
Which is riskier, HSBC Infrastructure Fund or Mirae Asset Infrastructure Fund?
On SEBI's riskometer, HSBC Infrastructure Fund is rated Very High and Mirae Asset Infrastructure Fund Very High. Over their common history, the standard deviation of daily returns was 17.64% and 18.39% a year.
Can I invest in both HSBC Infrastructure Fund and Mirae Asset Infrastructure Fund?
Yes. 38.5% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages HSBC Infrastructure Fund and Mirae Asset Infrastructure Fund?
HSBC Infrastructure Fund: Venugopal Manghat, Gautam Bhupal, Mayank Chaturvedi, Dipan S. Parikh. Mirae Asset Infrastructure Fund: Bharti Sawant.
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.