HSBC Overnight Fund vs ICICI Prudential Overnight Fund
Direct Plan, Growth option · Data as on 30-10-2026
HSBC Overnight Fund and ICICI Prudential Overnight Fund are both Overnight funds. In the 3 years to 30-10-2026, HSBC Overnight Fund (Direct) returned 6.0% a year and ICICI Prudential Overnight Fund (Direct) returned 6.0% a year. HSBC Overnight Fund charges 0.07% a year and ICICI Prudential Overnight Fund 0.09% (Direct plans). Their portfolios overlap 0.6%: they hold 1 of the same security.
ICICI Prudential Overnight Fund
Overnight
- 3 year return
- 6.0%
- Expense ratio
- 0.09%
- NAV
- ₹1,495.26
Which is better, HSBC Overnight or ICICI Prudential Overnight? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HSBC Overnight returned more over 5 years: 5.8% a year against 5.8%.
- HSBC Overnight returned more over 3 years: 6.0% a year against 6.0%.
- HSBC Overnight costs less: 0.07% a year against 0.09% (Direct plans).
- ICICI Prudential Overnight swung less over 3 years: a standard deviation of 0.0% a year against 0.0%.
- ICICI Prudential Overnight is the larger fund: ₹12,280 Cr against ₹4,805 Cr.
- Their portfolios overlap 0.6%: 1 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 Overnight Fund | ICICI Prudential Overnight Fund |
|---|---|---|
| Fund house | HSBC Mutual Fund | ICICI Prudential Mutual Fund |
| Category | Overnight | Overnight |
| AUM | ₹4,805 Cr (30-09-2026) | ₹12,280 Cr (30-09-2026) |
| NAV | ₹1,452.07 (Direct) | ₹1,495.26 (Direct) |
| Expense ratio (Direct) | 0.07% | 0.09% |
| Expense ratio (Regular) | 0.14% | 0.15% |
| Riskometer | Low | Not available |
| Benchmark | Nifty 1D Rate Index | Not available |
| Launch date | 22-05-2019 | Not available |
| Minimum investment | For Growth Option : Rs. 5000; For Daily & Weekly IDCW Payout & Reinvestment Plan: Rs. 100000 | Not available |
| Lock in | None | Not available |
| Fund managers | Abhishek Iyer, Rahul Totla | Not available |
| Exit load | Nil | Not available |
HSBC Overnight vs ICICI Prudential Overnight: 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 Overnight Fund (Direct) | +0.45% | +1.29% | +2.60% | +5.26% | +6.02% | +5.78% | -- |
| ICICI Prudential Overnight Fund (Direct) | +0.45% | +1.29% | +2.60% | +5.26% | +6.01% | +5.76% | -- |
| Overnight average | +0.45% | +1.28% | +2.59% | +5.22% | +5.99% | +5.75% | -- |
Category average: the average of the 40 Overnight funds, same plan type.
HSBC Overnight vs ICICI Prudential Overnight: Year-wise Returns
| Year | HSBCHSBC Overnight | ICICI PrudentialICICI Prudential Overnight |
|---|---|---|
| 2026to date | +4.32% | +4.32% |
| 2025 | +5.82% | +5.82% |
| 2024 | +6.73% | +6.70% |
| 2023 | +6.73% | +6.69% |
| 2022 | +4.72% | +4.69% |
| 2021 | +3.26% | +3.18% |
HSBC Overnight vs ICICI Prudential Overnight: Rolling Returns
Every holding period of both funds, against Nifty 1D Rate Index TRI, the benchmark of HSBC Overnight Fund
Rolling returns
Every 3-year holding period, 1,541 of them, one for each trading day from 22-05-2022 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 Overnight Fund (Direct)
ICICI Prudential Overnight Fund (Direct)
Nifty 1D Rate Index TRI
to
Sept 2022Jul 2020
to
Jul 2023Apr 2021
to
Apr 2024Jan 2022
to
Jan 2025Oct 2022
to
Oct 2025Jun 2023
to
Jun 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 Overnight | 0.0 | 35.2 | 64.8 | 0.0 | 0.0 | 0.0 | 0.0 | 5.4% | 5.7% | 3.7% | 6.5% | 5% |
| ICICI Prudential Overnight | 0.0 | 36.3 | 63.7 | 0.0 | 0.0 | 0.0 | 0.0 | 5.3% | 5.7% | 3.6% | 6.5% | 0% |
| Nifty 1D Rate Index TRI | 0.0 | 34.7 | 65.3 | 0.0 | 0.0 | 0.0 | 0.0 | 5.4% | 5.8% | 3.7% | 6.5% | -- |
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 1D Rate Index 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 22-05-2019. Past returns do not promise future returns.
HSBC Overnight vs ICICI Prudential Overnight: 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 22-05-2019 to 30-10-2026: 90 instalments, ₹9,00,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HSBC OvernightHSBC Overnight Fund (Direct) | ₹9,00,000 | ₹11,11,605 | ₹2,11,605 | 5.5% |
| ICICI Prudential OvernightICICI Prudential Overnight Fund (Direct) | ₹9,00,000 | ₹11,10,554 | ₹2,10,554 | 5.5% |
HSBC OvernightHSBC Overnight Fund (Direct)
ICICI Prudential OvernightICICI Prudential Overnight 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 Overnight vs ICICI Prudential Overnight: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HSBC Overnight Fund (Direct) | ICICI Prudential Overnight Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.26% | +5.26% |
| Standard deviation | 0.04% | 0.04% |
| Sharpe ratio | 0.35 | 0.42 |
| Sortino ratio | 1.18 | 1.50 |
| Maximum drawdown | 0.0% | 0.0% |
| Beta | 1.02 | -- |
| Alpha | +0.01% | -- |
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 Overnight Fund (Direct) | ICICI Prudential Overnight Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.02% | +6.01% |
| Standard deviation | 0.04% | 0.04% |
| Sharpe ratio | -0.07 | -0.42 |
| Sortino ratio | -0.11 | -0.63 |
| Maximum drawdown | 0.0% | 0.0% |
| Beta | 1.01 | -- |
| Alpha | −0.00% | -- |
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 Overnight Fund (Direct) | ICICI Prudential Overnight Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.78% | +5.76% |
| Standard deviation | 0.09% | 0.09% |
| Sharpe ratio | -0.19 | -0.46 |
| Sortino ratio | -0.37 | -0.86 |
| Maximum drawdown | 0.0% | 0.0% |
| Beta | 1.00 | -- |
| Alpha | −0.02% | -- |
From daily NAVs, 29-10-2021 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 Overnight Fund (Direct) | ICICI Prudential Overnight Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.14% | +5.18% |
| Standard deviation | 0.10% | 0.11% |
| Sharpe ratio | -0.14 | -0.48 |
| Sortino ratio | -0.25 | -0.82 |
| Maximum drawdown | 0.0% | 0.0% |
| Beta | 1.00 | -- |
| Alpha | −0.01% | -- |
From daily NAVs, 22-05-2019 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 Overnight Fund (Direct)
ICICI Prudential Overnight Fund (Direct)
Nifty 1D Rate Index TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HSBC Overnight Fund (Direct) | 0.0% | -- | -- | -- | -- | 0.0% |
| ICICI Prudential Overnight Fund (Direct) | 0.0% | -- | -- | -- | -- | 0.0% |
| Nifty 1D Rate Index TRI | 0.0% | -- | -- | -- | -- | 0.0% |
From daily values since 22-05-2019, 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 Overnight Fund (Direct)
ICICI Prudential Overnight Fund (Direct)
Nifty 1D Rate Index 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 Overnight Fund (Direct)
ICICI Prudential Overnight Fund (Direct)
Nifty 1D Rate Index TRI
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 5-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
HSBC Overnight Fund (Direct)
ICICI Prudential Overnight Fund (Direct)
Nifty 1D Rate Index TRI
Against Nifty 1D Rate Index TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| HSBC Overnight Fund (Direct) | 100% | NaN% | 0.07% |
| ICICI Prudential Overnight Fund (Direct) | 99% | NaN% | 0.07% |
From month-end values since 22-05-2019. 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 Overnight vs ICICI Prudential Overnight: Portfolio Overlap
From each fund's latest monthly portfolio: HSBC Overnight Fund, September 2026; ICICI Prudential Overnight Fund, September 2026
Holdings in common
- Overlap
- 0.6%
- Held by both
- 1
- Only in HSBC Overnight
- 5
- Only in ICICI Prudential Overnight
- 2
| Security | % of HSBC Overnight | % of ICICI Prudential Overnight |
|---|---|---|
| 91 Days Treasury Bill 08-Oct-2026 | 0.62% | 0.81% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 0.6% means 0.6% 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 Overnight Fund
| Security | % of fund |
|---|---|
| 182 Days Treasury Bill 22-Oct-2026 | 3.01% |
| 364Days TBILL 15-Oct-2026 | 1.04% |
| 91 Days Treasury Bill 29-Oct-2026 | 0.83% |
| 182Days TBILL 15-Oct-2026 | 0.73% |
| 91 Days Treasury Bill 15-Oct-2026 | 0.21% |
Largest holdings only in ICICI Prudential Overnight Fund
| Security | % of fund |
|---|---|
| 364 Days Treasury Bills | 2.56% |
| 364 Days Treasury Bills | 2.04% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HSBC Overnight | ICICI Prudential Overnight |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 6.4% | 5.4% |
| Cash and others | 93.6% | 94.6% |
HSBC Overnight vs ICICI Prudential Overnight: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HSBC Overnight Fund | ICICI Prudential Overnight Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.07% | 0.09% |
| Base expense ratio (Direct) | 0.05% | 0.07% |
| Total expense ratio (Regular) | 0.14% | 0.15% |
| Base expense ratio (Regular) | 0.11% | 0.12% |
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 Overnight with
HSBC Overnight Fund vs ICICI Prudential Overnight Fund: Frequently Asked Questions
What is the difference between HSBC Overnight Fund and ICICI Prudential Overnight Fund?
Both are Overnight funds, run by HSBC Mutual Fund and ICICI Prudential Mutual Fund. Their portfolios overlap 0.6%. HSBC Overnight Fund charges 0.07% a year and ICICI Prudential Overnight Fund 0.09%.
Which has given higher returns, HSBC Overnight Fund or ICICI Prudential Overnight Fund?
Over 1 year: HSBC Overnight Fund +5.26%, ICICI Prudential Overnight Fund +5.26%. Over 3 years: HSBC Overnight Fund +6.02% a year, ICICI Prudential Overnight Fund +6.01% a year. Over 5 years: HSBC Overnight Fund +5.78% a year, ICICI Prudential Overnight Fund +5.76% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HSBC Overnight Fund or ICICI Prudential Overnight Fund?
HSBC Overnight Fund charges less: 0.07% a year against 0.09%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HSBC Overnight Fund and ICICI Prudential Overnight Fund overlap?
0.6%. They hold 1 of the same securities, the largest shared ones being 91 Days Treasury Bill 08-Oct-2026. From each fund's latest monthly portfolio.
Which is better for SIP, HSBC Overnight Fund or ICICI Prudential Overnight Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,09,905 in HSBC Overnight Fund (XIRR 5.9% a year) and ₹7,09,651 in ICICI Prudential Overnight Fund (XIRR 5.9% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both HSBC Overnight Fund and ICICI Prudential Overnight Fund?
Yes. 0.6% of each fund's money sits in the same holdings, so the two hold mostly different investments.
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.