HSBC Infrastructure Fund vs UTI - Infrastructure Fund
Direct Plan, Growth option · Data as on 30-10-2026
HSBC Infrastructure Fund is a Sectoral fund and UTI - Infrastructure Fund is a Thematic fund. In the 3 years to 30-10-2026, HSBC Infrastructure Fund (Direct) returned 14.8% a year and UTI - Infrastructure Fund (Direct) returned 11.9% a year. HSBC Infrastructure Fund charges 1.13% a year and UTI - Infrastructure Fund 2.00% (Direct plans). Their portfolios overlap 37.4%: they hold 19 of the same securities.
HSBC Infrastructure Fund
Sectoral
- 3 year return
- 14.8%
- Expense ratio
- 1.13%
- NAV
- ₹53.76
UTI - Infrastructure Fund
Thematic
- 3 year return
- 11.9%
- Expense ratio
- 2.00%
- NAV
- ₹143.59
Which is better, HSBC Infrastructure or UTI - Infrastructure? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HSBC Infrastructure returned more over 3 years: 14.8% a year against 11.9%.
- HSBC Infrastructure returned more over 1 year: 0.4% against −6.2%.
- HSBC Infrastructure costs less: 1.13% a year against 2.00% (Direct plans).
- UTI - Infrastructure swung less over 3 years: a standard deviation of 15.8% a year against 19.1%.
- UTI - Infrastructure fell less in its worst fall since 28-11-2022: −21.3% against −25.4%.
- UTI - Infrastructure holds more in large companies: 67.0% of the fund in large caps against 53.0%.
- HSBC Infrastructure is the larger fund: ₹2,379 Cr against ₹2,033 Cr.
- Their portfolios overlap 37.4%: 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 | UTI - Infrastructure Fund |
|---|---|---|
| Fund house | HSBC Mutual Fund | UTI Mutual Fund |
| Category | Sectoral | Thematic |
| AUM | ₹2,379 Cr (30-09-2026) | ₹2,033 Cr (30-09-2026) |
| NAV | ₹53.76 (Direct) | ₹143.59 (Direct) |
| Expense ratio (Direct) | 1.13% | 2.00% |
| Expense ratio (Regular) | 2.15% | 2.18% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty Infrastructure TRI | Nifty Infrastructure TRI |
| Launch date | 27-09-2007 | 07-04-2004 |
| Minimum investment | ₹5,000 | Regular Plan-Growth- Rs.5000, Regular Plan-Reinvestment of IDCW- Rs.5000, Regular Plan-Payout of IDCW- Rs.5000, Direct Plan-Growth- Rs.5000, Direct Plan-Reinvestment of IDCW- Rs.5000, Direct Plan-Payout of IDCW- Rs.5000, |
| Lock in | None | None |
| Fund managers | Venugopal Manghat, Gautam Bhupal, Mayank Chaturvedi, Dipan S. Parikh | Deepesh Agarwal |
| Exit load | Exit load for units in excess of 10% of the investment, 1% will be charged for redemption within 90 days. | 1.00% if redeemed before 30 days from the date of allotment. Nil if redeemed on or after 30 days from the date of allotment |
HSBC Infrastructure vs UTI - 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% | -- | -- |
| UTI - Infrastructure Fund (Direct) | −1.58% | −5.69% | −5.74% | −6.24% | +11.88% | +12.18% | +11.84% |
| Sectoral average | −1.70% | −4.49% | +2.30% | −0.58% | +15.61% | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | +13.76% | +11.62% | +13.76% |
Category average: the average of the 20 Sectoral funds and the 235 Thematic funds, same plan type.
HSBC Infrastructure vs UTI - Infrastructure: Year-wise Returns
| Year | HSBCHSBC Infrastructure | UTI -UTI - Infrastructure | Nifty Infrastructure TRI |
|---|---|---|---|
| 2026to date | +3.25% | −4.64% | −7.85% |
| 2025 | −3.38% | +4.65% | +14.64% |
| 2024 | +29.43% | +18.93% | +16.79% |
| 2023 | +52.22% | +38.67% | +40.08% |
| 2022 | -- | +9.22% | +7.49% |
| 2021 | -- | +39.76% | +37.77% |
HSBC Infrastructure vs UTI - Infrastructure: Rolling Returns
Every holding period of both funds, against Nifty Infrastructure TRI, the benchmark of both
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 Infrastructure Fund (Direct)
UTI - Infrastructure Fund (Direct)
Nifty Infrastructure 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 Infrastructure | 0.0 | 0.0 | 0.0 | 7.5 | 33.2 | 58.4 | 0.9 | 20.4% | 21.3% | 13.3% | 25.5% | 81% |
| UTI - Infrastructure | 0.0 | 0.0 | 0.0 | 19.9 | 63.7 | 16.4 | 0.0 | 17.1% | 17.6% | 10.4% | 21.8% | 0% |
| Nifty Infrastructure TRI | 0.0 | 0.0 | 0.0 | 15.0 | 29.2 | 54.0 | 1.8 | 19.6% | 20.5% | 11.4% | 25.5% | -- |
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 Infrastructure 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 Infrastructure vs UTI - Infrastructure: 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 InfrastructureHSBC Infrastructure Fund (Direct) | ₹4,80,000 | ₹5,94,392 | ₹1,14,392 | 10.7% |
| UTI - InfrastructureUTI - Infrastructure Fund (Direct) | ₹4,80,000 | ₹5,51,261 | ₹71,261 | 6.9% |
HSBC InfrastructureHSBC Infrastructure Fund (Direct)
UTI - InfrastructureUTI - Infrastructure 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 Infrastructure vs UTI - 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) | UTI - Infrastructure Fund (Direct) |
|---|---|---|
| Return (CAGR) | +0.36% | −6.24% |
| Standard deviation | 17.90% | 14.82% |
| Sharpe ratio | -0.27 | -0.77 |
| Sortino ratio | -0.37 | -1.04 |
| Maximum drawdown | −11.9% (23-10-2026) | −12.6% (23-03-2026) |
| Beta | 1.02 | 0.95 |
| Alpha | +8.33% | +0.77% |
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 Infrastructure Fund (Direct) | UTI - Infrastructure Fund (Direct) |
|---|---|---|
| Return (CAGR) | +14.81% | +11.88% |
| Standard deviation | 19.14% | 15.85% |
| Sharpe ratio | 0.46 | 0.37 |
| Sortino ratio | 0.61 | 0.49 |
| Maximum drawdown | −25.4% (28-02-2025) | −21.3% (28-02-2025) |
| Beta | 1.02 | 0.91 |
| Alpha | +0.84% | −1.29% |
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 Infrastructure Fund (Direct) | UTI - Infrastructure Fund (Direct) |
|---|---|---|
| Return (CAGR) | +18.31% | +11.82% |
| Standard deviation | 17.64% | 17.94% |
| Sharpe ratio | 0.69 | 0.32 |
| Sortino ratio | 0.92 | 0.43 |
| Maximum drawdown | −25.4% (28-02-2025) | −42.8% (23-03-2020) |
| Beta | 1.00 | 0.85 |
| Alpha | +4.15% | +1.91% |
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)
UTI - 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) | −25.4% | 27-09-2024 | 28-02-2025 | 18-06-2026 | 16 months | −9.2% |
| UTI - Infrastructure Fund (Direct) | −21.3% | 27-09-2024 | 28-02-2025 | Not yet | -- | −10.9% |
| Nifty Infrastructure TRI | −20.6% | 27-09-2024 | 28-02-2025 | 29-10-2025 | 8 months | −9.3% |
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 Infrastructure Fund (Direct)
UTI - Infrastructure Fund (Direct)
Nifty Infrastructure 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 Infrastructure Fund (Direct)
UTI - Infrastructure Fund (Direct)
Nifty Infrastructure TRI
Against Nifty Infrastructure TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| HSBC Infrastructure Fund (Direct) | 103% | 79% | 11.22% |
| UTI - Infrastructure Fund (Direct) | 92% | 92% | 5.04% |
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 Infrastructure vs UTI - Infrastructure: Portfolio Overlap
From each fund's latest monthly portfolio: HSBC Infrastructure Fund, September 2026; UTI - Infrastructure Fund, September 2026
Holdings in common
- Overlap
- 37.4%
- Held by both
- 19
- Only in HSBC Infrastructure
- 30
- Only in UTI - Infrastructure
- 46
| Security | % of HSBC Infrastructure | % of UTI - Infrastructure |
|---|---|---|
| Larsen & Toubro Limited | 6.99% | 8.82% |
| Bharti Airtel Limited | 6.46% | 13.01% |
| Reliance Industries Limited | 4.43% | 8.60% |
| UltraTech Cement Limited | 3.64% | 4.24% |
| NTPC Limited | 7.68% | 3.58% |
| InterGlobe Aviation Limited | 4.09% | 3.18% |
| Hindustan Aeronautics Limited | 3.52% | 2.35% |
| Bharat Electronics Limited | 5.79% | 1.11% |
| TD Power Systems Limited | 3.02% | 1.07% |
| KIRLOSKAR PNEUMATIC CO.LTD. | 1.06% | 0.92% |
| Tata Motors Limited | 0.97% | 0.60% |
| Kirloskar Oil Engines Ltd | 3.60% | 0.57% |
| Cummins India Limited | 0.55% | 1.55% |
| Polycab India Limited | 1.48% | 0.47% |
| TITAGARH RAIL SYSTEMS LIMITED | 1.58% | 0.42% |
| JSW Steel Limited | 0.53% | 0.38% |
| Pitti Engineering Limited | 0.91% | 0.34% |
| Siemens Limited | 1.53% | 0.29% |
| Engineers India Limited | 2.19% | 0.05% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 37.4% means 37.4% 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 Infrastructure Fund
| Security | % of fund |
|---|---|
| Mtar Technologies Limited | 4.67% |
| GE Vernova T&D India Limited | 2.90% |
| APL Apollo Tubes Limited | 2.12% |
| Sterlite Technologies Limited | 2.10% |
| Juniper Green Energy Limited | 2.05% |
Largest holdings only in UTI - Infrastructure Fund
| Security | % of fund |
|---|---|
| EQ - ADANI PORTS AND SPECIAL ECONO | 4.88% |
| EQ - OIL & NATURAL GAS CORPORATION | 3.42% |
| EQ - AXIS BANK LTD. | 2.73% |
| EQ - INDO-MIM LIMITED | 2.25% |
| EQ - ICICI BANK LTD | 2.04% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HSBC Infrastructure | UTI - Infrastructure |
|---|---|---|
| Equity | 95.8% | 97.2% |
| Debt | 0.0% | 0.0% |
| Cash and others | 4.2% | 2.8% |
Market cap of stocks
| Market cap | HSBC Infrastructure | UTI - Infrastructure |
|---|---|---|
| Large Cap | 53.0% | 67.0% |
| Mid Cap | 9.6% | 7.3% |
| Small Cap | 27.1% | 18.1% |
| Not on AMFI's list | 6.1% | 4.8% |
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 | UTI - Infrastructure |
|---|---|---|
| Electrical Equipment | 20.3% | 5.5% |
| Industrial Products | 14.5% | 4.9% |
| Telecom - Services | 6.5% | 13.8% |
| Construction | 10.2% | 12.4% |
| Petroleum Products | 4.4% | 10.2% |
| Power | 9.7% | 5.8% |
| Aerospace & Defense | 9.3% | 3.5% |
The six largest sectors of each fund's stocks, % of the fund.
HSBC Infrastructure vs UTI - Infrastructure: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HSBC Infrastructure Fund | UTI - Infrastructure Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.13% | 2.00% |
| Base expense ratio (Direct) | 0.88% | 1.59% |
| Total expense ratio (Regular) | 2.15% | 2.18% |
| Base expense ratio (Regular) | 1.74% | 1.76% |
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
HSBC Infrastructure Fund vs UTI - Infrastructure Fund: Frequently Asked Questions
What is the difference between HSBC Infrastructure Fund and UTI - Infrastructure Fund?
HSBC Infrastructure Fund is a Sectoral fund, UTI - Infrastructure Fund is a Thematic fund, run by HSBC Mutual Fund and UTI Mutual Fund. Their portfolios overlap 37.4%. HSBC Infrastructure Fund charges 1.13% a year and UTI - Infrastructure Fund 2.00%.
Which has given higher returns, HSBC Infrastructure Fund or UTI - Infrastructure Fund?
Over 1 year: HSBC Infrastructure Fund +0.36%, UTI - Infrastructure Fund −6.24%. Over 3 years: HSBC Infrastructure Fund +14.81% a year, UTI - Infrastructure Fund +11.88% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HSBC Infrastructure Fund or UTI - Infrastructure Fund?
HSBC Infrastructure Fund charges less: 1.13% a year against 2.00%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HSBC Infrastructure Fund and UTI - Infrastructure Fund overlap?
37.4%. They hold 19 of the same securities, the largest shared ones being LT, BHARTIARTL, RELIANCE. From each fund's latest monthly portfolio.
Which is riskier, HSBC Infrastructure Fund or UTI - Infrastructure Fund?
On SEBI's riskometer, HSBC Infrastructure Fund is rated Very High and UTI - Infrastructure Fund Very High. Over 3 years, the standard deviation of daily returns was 19.14% and 15.85% a year.
Which is better for SIP, HSBC Infrastructure Fund or UTI - Infrastructure Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹3,97,099 in HSBC Infrastructure Fund (XIRR 4.5% a year) and ₹3,77,458 in UTI - Infrastructure Fund (XIRR 1.3% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both HSBC Infrastructure Fund and UTI - Infrastructure Fund?
Yes. 37.4% 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 UTI - Infrastructure Fund?
HSBC Infrastructure Fund: Venugopal Manghat, Gautam Bhupal, Mayank Chaturvedi, Dipan S. Parikh. UTI - Infrastructure Fund: Deepesh Agarwal.
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.