HSBC Short Term Fund vs ICICI Prudential Floating Interest Rates Fund
Direct Plan, Growth option · Data as on 30-10-2026
HSBC Short Term Fund is a Short Duration fund and ICICI Prudential Floating Interest Rates Fund is a Floater fund. In the 3 years to 30-10-2026, HSBC Short Term Fund (Direct) returned −1.1% a year and ICICI Prudential Floating Interest Rates Fund (Direct) returned 7.5% a year. HSBC Short Term Fund charges 0.32% a year and ICICI Prudential Floating Interest Rates Fund 0.29% (Direct plans). Their portfolios overlap 16.3%: they hold 19 of the same securities.
HSBC Short Term Fund
Short Duration
- 3 year return
- −1.1%
- Expense ratio
- 0.32%
- NAV
- ₹12.24
ICICI Prudential Floating Interest Rates Fund
Floater
- 3 year return
- 7.5%
- Expense ratio
- 0.29%
- NAV
- ₹501.30
Which is better, HSBC Short Term or ICICI Prudential Floating Interest Rates? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- ICICI Prudential Floating Interest Rates returned more over 3 years: 7.5% a year against −1.1%.
- ICICI Prudential Floating Interest Rates returned more over 1 year: 5.6% against −3.9%.
- ICICI Prudential Floating Interest Rates costs less: 0.29% a year against 0.32% (Direct plans).
- ICICI Prudential Floating Interest Rates swung less over 3 years: a standard deviation of 0.8% a year against 1.0%.
- ICICI Prudential Floating Interest Rates fell less in its worst fall since 28-11-2022: −0.5% against −0.6%.
- ICICI Prudential Floating Interest Rates is the larger fund: ₹8,658 Cr against ₹3,881 Cr.
- Their portfolios overlap 16.3%: 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 Short Term Fund | ICICI Prudential Floating Interest Rates Fund |
|---|---|---|
| Fund house | HSBC Mutual Fund | ICICI Prudential Mutual Fund |
| Category | Short Duration | Floater |
| AUM | ₹3,881 Cr (30-09-2026) | ₹8,658 Cr (30-09-2026) |
| NAV | ₹12.24 (Direct) | ₹501.30 (Direct) |
| Expense ratio (Direct) | 0.32% | 0.29% |
| Expense ratio (Regular) | 0.70% | 0.85% |
| Riskometer | Moderate | Not available |
| Benchmark | NIFTY Short Duration Debt Index A-II | NIFTY Low Duration Debt Index A-I |
| Launch date | 27-12-2011 | 17-11-2005 |
| Minimum investment | ₹5,000 | ₹500 |
| Lock in | None | None |
| Fund managers | Shriram Ramanathan, Mohd Asif Rizwi | Darshil Dedhia, Ritesh Lunawat |
| Exit load | Nil | Nil |
HSBC Short Term vs ICICI Prudential Floating Interest Rates: 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 Short Term Fund (Direct) | −0.12% | +0.20% | +2.44% | −3.88% | −1.14% | -- | -- |
| ICICI Prudential Floating Interest Rates Fund (Direct) | −0.23% | +0.39% | +2.53% | +5.56% | +7.53% | +6.97% | +7.52% |
| Short Duration average | −0.14% | +0.30% | +2.50% | +4.11% | +6.88% | -- | -- |
| Floater average | −0.01% | +0.56% | +2.76% | +5.43% | +7.47% | +6.73% | +7.16% |
Category average: the average of the 25 Short Duration funds and the 12 Floater funds, same plan type.
HSBC Short Term vs ICICI Prudential Floating Interest Rates: Year-wise Returns
| Year | HSBC Short TermHSBC Short Term | ICICI Prudential Floating Interest RatesICICI Prudential Floating Interest Rates |
|---|---|---|
| 2026to date | −4.56% | +4.26% |
| 2025 | −0.10% | +8.41% |
| 2024 | −0.21% | +8.68% |
| 2023 | −0.26% | +8.46% |
| 2022 | -- | +5.00% |
| 2021 | -- | +4.54% |
HSBC Short Term vs ICICI Prudential Floating Interest Rates: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 222 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 Short Term Fund
ICICI Prudential Floating Interest Rates Fund (Direct)
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HSBC Short Term | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7.0% | 7.0% | 6.5% | 7.4% |
| ICICI Prudential Floating Interest Rates | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 8.2% | 8.3% | 7.5% | 8.6% |
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. Every fund is measured over the days all of them have, from 28-11-2022. Past returns do not promise future returns.
HSBC Short Term vs ICICI Prudential Floating Interest Rates: 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 Short TermHSBC Short Term Fund | ₹4,80,000 | ₹5,42,411 | ₹62,411 | 6.1% |
| ICICI Prudential Floating Interest RatesICICI Prudential Floating Interest Rates Fund (Direct) | ₹4,80,000 | ₹5,54,891 | ₹74,891 | 7.2% |
HSBC Short TermHSBC Short Term Fund
ICICI Prudential Floating Interest RatesICICI Prudential Floating Interest Rates 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 Short Term vs ICICI Prudential Floating Interest Rates: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HSBC Short Term Fund (Direct) | ICICI Prudential Floating Interest Rates Fund (Direct) |
|---|---|---|
| Return (CAGR) | +3.88% | +5.56% |
| Standard deviation | 1.17% | 1.02% |
| Sharpe ratio | -1.17 | 0.31 |
| Sortino ratio | -1.61 | 0.45 |
| Maximum drawdown | −0.6% (21-05-2026) | −0.5% (23-10-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 Short Term Fund (Direct) | ICICI Prudential Floating Interest Rates Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.65% | +7.53% |
| Standard deviation | 0.97% | 0.77% |
| Sharpe ratio | 0.64 | 1.95 |
| Sortino ratio | 0.96 | 3.11 |
| Maximum drawdown | −0.6% (21-05-2026) | −0.5% (23-10-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 Short Term Fund (Direct) | ICICI Prudential Floating Interest Rates Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.49% | +8.11% |
| Standard deviation | 0.91% | 0.93% |
| Sharpe ratio | 0.34 | 2.21 |
| Sortino ratio | 0.50 | 3.71 |
| Maximum drawdown | −0.6% (21-05-2026) | −1.8% (26-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 Short Term Fund
ICICI Prudential Floating Interest Rates Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HSBC Short Term Fund | −0.6% | 07-05-2026 | 21-05-2026 | 05-06-2026 | 15 days | −0.3% |
| ICICI Prudential Floating Interest Rates Fund (Direct) | −0.5% | 09-09-2026 | 23-10-2026 | Not yet | -- | −0.3% |
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 Short Term Fund
ICICI Prudential Floating Interest Rates Fund (Direct)
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 Short Term Fund
ICICI Prudential Floating Interest Rates Fund (Direct)
HSBC Short Term vs ICICI Prudential Floating Interest Rates: Portfolio Overlap
From each fund's latest monthly portfolio: HSBC Short Term Fund, September 2026; ICICI Prudential Floating Interest Rates Fund, September 2026
Holdings in common
- Overlap
- 16.3%
- Held by both
- 19
- Only in HSBC Short Term
- 67
- Only in ICICI Prudential Floating Interest Rates
- 66
| Security | % of HSBC Short Term | % of ICICI Prudential Floating Interest Rates |
|---|---|---|
| Shivshakti Securitisation Trust | 2.58% | 1.93% |
| NABARD | 2.01% | 1.55% |
| LIC Housing Finance Limited | 1.36% | 1.38% |
| Power Finance Corporation Limited | 1.33% | 2.52% |
| Bajaj Finance Limited | 1.28% | 2.27% |
| SIDBI | 1.21% | 1.36% |
| 6.94% GOI 11-May-2036 | 2.99% | 1.15% |
| SIDBI | 1.06% | 1.41% |
| NABARD | 1.56% | 0.98% |
| Mahindra & Mahindra Financial Serv Ltd. | 0.66% | 1.73% |
| Jio Credit Limited | 0.66% | 1.71% |
| Siddhivinayak Securitisation Trust | 0.62% | 1.38% |
| Bharti Telecom Limited | 0.68% | 0.52% |
| Embassy Office Parks REIT | 2.55% | 0.42% |
| Corp Debt Mkt Devlop Fund (SBI AIF Fund) | 0.35% | 0.41% |
| Bharti Telecom Limited | 1.42% | 0.34% |
| SIDBI | 1.36% | 0.29% |
| Embassy Office Parks REIT | 0.64% | 0.29% |
| India Universal Trust AL2 | 0.63% | 0.28% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 16.3% means 16.3% 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 Short Term Fund
| Security | % of fund |
|---|---|
| NABARD | 2.57% |
| NTPC Limited | 2.08% |
| SIDBI | 2.06% |
| Hindustan Zinc Limited | 2.01% |
| Bajaj Housing Finance Ltd | 2.00% |
Largest holdings only in ICICI Prudential Floating Interest Rates Fund
| Security | % of fund |
|---|---|
| NABARD | 4.95% |
| Government Securities | 4.16% |
| Citicorp Finance (India) Ltd. | 3.02% |
| Tata Capital Financial Services Ltd. | 2.88% |
| LIC Housing Finance Ltd. | 2.71% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HSBC Short Term | ICICI Prudential Floating Interest Rates |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 96.9% | 95.7% |
| Cash and others | 3.1% | 4.3% |
HSBC Short Term vs ICICI Prudential Floating Interest Rates: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HSBC Short Term Fund | ICICI Prudential Floating Interest Rates Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.32% | 0.29% |
| Base expense ratio (Direct) | 0.27% | 0.25% |
| Total expense ratio (Regular) | 0.70% | 0.85% |
| Base expense ratio (Regular) | 0.59% | 0.73% |
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 Short Term with
Compare ICICI Prudential Floating Interest Rates with
- ICICI Prudential Floating Interest Rates vs Axis Floating Interest Rates
- ICICI Prudential Floating Interest Rates vs Franklin India Floating Interest Rates
- ICICI Prudential Floating Interest Rates vs Bandhan Floating Interest Rates
- ICICI Prudential Floating Interest Rates vs Kotak Floating Interest Rates
HSBC Short Term Fund vs ICICI Prudential Floating Interest Rates Fund: Frequently Asked Questions
What is the difference between HSBC Short Term Fund and ICICI Prudential Floating Interest Rates Fund?
HSBC Short Term Fund is a Short Duration fund, ICICI Prudential Floating Interest Rates Fund is a Floater fund, run by HSBC Mutual Fund and ICICI Prudential Mutual Fund. Their portfolios overlap 16.3%. HSBC Short Term Fund charges 0.32% a year and ICICI Prudential Floating Interest Rates Fund 0.29%.
Which has given higher returns, HSBC Short Term Fund or ICICI Prudential Floating Interest Rates Fund?
Over 1 year: HSBC Short Term Fund −3.88%, ICICI Prudential Floating Interest Rates Fund +5.56%. Over 3 years: HSBC Short Term Fund −1.14% a year, ICICI Prudential Floating Interest Rates Fund +7.53% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HSBC Short Term Fund or ICICI Prudential Floating Interest Rates Fund?
ICICI Prudential Floating Interest Rates Fund charges less: 0.29% a year against 0.32%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HSBC Short Term Fund and ICICI Prudential Floating Interest Rates Fund overlap?
16.3%. They hold 19 of the same securities, the largest shared ones being Shivshakti Securitisation Trust, NABARD, LIC Housing Finance Limited. From each fund's latest monthly portfolio.
Which is better for SIP, HSBC Short Term Fund or ICICI Prudential Floating Interest Rates Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹4,04,684 in HSBC Short Term Fund (XIRR 5.8% a year) and ₹4,11,355 in ICICI Prudential Floating Interest Rates Fund (XIRR 6.8% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both HSBC Short Term Fund and ICICI Prudential Floating Interest Rates Fund?
Yes. 16.3% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages HSBC Short Term Fund and ICICI Prudential Floating Interest Rates Fund?
HSBC Short Term Fund: Shriram Ramanathan, Mohd Asif Rizwi. ICICI Prudential Floating Interest Rates Fund: Darshil Dedhia, Ritesh Lunawat.
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.