SBI Conservative Hybrid Fund vs SBI Credit Risk Fund
Direct Plan, Growth option · Data as on 30-10-2026
SBI Conservative Hybrid Fund is a Conservative Hybrid fund and SBI Credit Risk Fund is a Credit Risk fund. In the 3 years to 30-10-2026, SBI Conservative Hybrid Fund (Direct) returned 8.0% a year and SBI Credit Risk Fund (Direct) returned 8.3% a year. SBI Conservative Hybrid Fund charges 0.98% a year and SBI Credit Risk Fund 0.90% (Direct plans). Their portfolios overlap 16.8%: they hold 14 of the same securities.
SBI Conservative Hybrid Fund
Conservative Hybrid
- 3 year return
- 8.0%
- Expense ratio
- 0.98%
- NAV
- ₹82.84
Which is better, SBI Conservative Hybrid or SBI Credit Risk? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- SBI Conservative Hybrid returned more over 5 years: 7.9% a year against 7.6%.
- SBI Credit Risk returned more over 3 years: 8.3% a year against 8.0%.
- SBI Credit Risk costs less: 0.90% a year against 0.98% (Direct plans).
- SBI Credit Risk swung less over 3 years: a standard deviation of 1.0% a year against 3.6%.
- SBI Credit Risk fell less in its worst fall since 08-01-2013: −2.3% against −11.9%.
- SBI Conservative Hybrid is the larger fund: ₹10,107 Cr against ₹2,182 Cr.
- Their portfolios overlap 16.8%: 14 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 | SBI Conservative Hybrid Fund | SBI Credit Risk Fund |
|---|---|---|
| Fund house | SBI Mutual Fund | SBI Mutual Fund |
| Category | Conservative Hybrid | Credit Risk |
| AUM | ₹10,107 Cr (30-09-2026) | ₹2,182 Cr (30-09-2026) |
| NAV | ₹82.84 (Direct) | ₹54.11 (Direct) |
| Expense ratio (Direct) | 0.98% | 0.90% |
| Expense ratio (Regular) | 1.49% | 1.54% |
| Riskometer | High | High |
| Benchmark | Nifty 50 Hybrid Composite Debt 15:85 Conservative Index | NIFTY Credit Risk Bond Index B-II |
| Launch date | 09-04-2001 | 19-07-2004 |
| Minimum investment | ₹5,000 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Mansi Sajeja, Saurabh Pant, Milind Agrawal | Lokesh Mallya |
| Exit load | For units in excess of 10% of the investment, 1% will be charged for redemption within 1 year | For units in excess of 8% of the investment, exit load of 3% if redeemed within 12 months, 1.5% if redeemed after 12 months but within 24 months and 0.75% if redeemed after 24 months but within 36 months |
SBI Conservative Hybrid vs SBI Credit Risk: 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 |
|---|---|---|---|---|---|---|---|
| SBI Conservative Hybrid Fund (Direct) | −0.91% | −1.25% | +1.10% | +2.04% | +8.01% | +7.93% | +8.59% |
| SBI Credit Risk Fund (Direct) | −0.17% | +0.87% | +3.89% | +7.14% | +8.30% | +7.62% | +7.69% |
| Conservative Hybrid average | −0.46% | −1.48% | +0.87% | +1.02% | +7.61% | +7.13% | +7.52% |
| Credit Risk average | −0.04% | +0.78% | +3.31% | +7.84% | +9.41% | +9.83% | +6.82% |
Category average: the average of the 18 Conservative Hybrid funds and the 13 Credit Risk funds, same plan type.
SBI Conservative Hybrid vs SBI Credit Risk: Year-wise Returns
| Year | Conservative HybridSBI Conservative Hybrid | Credit RiskSBI Credit Risk |
|---|---|---|
| 2026to date | +1.78% | +6.02% |
| 2025 | +7.21% | +8.62% |
| 2024 | +11.57% | +8.80% |
| 2023 | +12.76% | +9.00% |
| 2022 | +5.09% | +4.90% |
| 2021 | +14.72% | +5.62% |
SBI Conservative Hybrid vs SBI Credit Risk: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 2,623 of them, one for each trading day from 08-01-2016 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.
SBI Conservative Hybrid Fund (Direct)
SBI Credit Risk Fund (Direct)
to
Nov 2016Sept 2015
to
Sept 2018Jul 2017
to
Jul 2020May 2019
to
May 2022Mar 2021
to
Mar 2024Dec 2022
to
Dec 2025
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SBI Conservative Hybrid | 0.0 | 4.9 | 34.7 | 60.2 | 0.2 | 0.0 | 0.0 | 10.2% | 10.5% | 2.0% | 15.5% |
| SBI Credit Risk | 0.0 | 0.0 | 82.5 | 17.5 | 0.0 | 0.0 | 0.0 | 8.4% | 8.1% | 6.4% | 11.4% |
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 08-01-2013. Past returns do not promise future returns.
SBI Conservative Hybrid vs SBI Credit Risk: 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 08-01-2013 to 30-10-2026: 166 instalments, ₹16,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| SBI Conservative HybridSBI Conservative Hybrid Fund (Direct) | ₹16,60,000 | ₹32,50,420 | ₹15,90,420 | 9.2% |
| SBI Credit RiskSBI Credit Risk Fund (Direct) | ₹16,60,000 | ₹29,77,866 | ₹13,17,866 | 8.0% |
SBI Conservative HybridSBI Conservative Hybrid Fund (Direct)
SBI Credit RiskSBI Credit Risk 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.
SBI Conservative Hybrid vs SBI Credit Risk: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | SBI Conservative Hybrid Fund (Direct) | SBI Credit Risk Fund (Direct) |
|---|---|---|
| Return (CAGR) | +2.04% | +7.14% |
| Standard deviation | 4.04% | 1.26% |
| Sharpe ratio | -0.79 | 1.51 |
| Sortino ratio | -1.08 | 2.25 |
| Maximum drawdown | −3.0% (30-03-2026) | −0.6% (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 | SBI Conservative Hybrid Fund (Direct) | SBI Credit Risk Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.01% | +8.30% |
| Standard deviation | 3.63% | 1.04% |
| Sharpe ratio | 0.55 | 2.20 |
| Sortino ratio | 0.75 | 3.53 |
| Maximum drawdown | −3.0% (30-03-2026) | −0.6% (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 | SBI Conservative Hybrid Fund (Direct) | SBI Credit Risk Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.93% | +7.62% |
| Standard deviation | 3.55% | 1.17% |
| Sharpe ratio | 0.60 | 1.56 |
| Sortino ratio | 0.81 | 2.85 |
| Maximum drawdown | −3.6% (07-03-2022) | −0.7% (06-05-2022) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 | SBI Conservative Hybrid Fund (Direct) | SBI Credit Risk Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.43% | +8.55% |
| Standard deviation | 4.19% | 1.25% |
| Sharpe ratio | 0.81 | 1.99 |
| Sortino ratio | 1.10 | 3.20 |
| Maximum drawdown | −11.9% (23-03-2020) | −2.3% (24-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 08-01-2013 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.
SBI Conservative Hybrid Fund (Direct)
SBI Credit Risk Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| SBI Conservative Hybrid Fund (Direct) | −11.9% | 20-02-2020 | 23-03-2020 | 20-07-2020 | 4 months | −2.2% |
| SBI Credit Risk Fund (Direct) | −2.3% | 06-03-2020 | 24-03-2020 | 23-04-2020 | 30 days | −0.4% |
From daily values since 08-01-2013, 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.
SBI Conservative Hybrid Fund (Direct)
SBI Credit Risk 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.
SBI Conservative Hybrid Fund (Direct)
SBI Credit Risk Fund (Direct)
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.
SBI Conservative Hybrid Fund (Direct)
SBI Credit Risk Fund (Direct)
SBI Conservative Hybrid vs SBI Credit Risk: Portfolio Overlap
From each fund's latest monthly portfolio: SBI Conservative Hybrid Fund, September 2026; SBI Credit Risk Fund, September 2026
Holdings in common
- Overlap
- 16.8%
- Held by both
- 14
- Only in SBI Conservative Hybrid
- 94
- Only in SBI Credit Risk
- 32
| Security | % of SBI Conservative Hybrid | % of SBI Credit Risk |
|---|---|---|
| JTPM Metal Traders Ltd. | 2.94% | 4.45% |
| JSW JFE Kalinga Steel Ltd. | 2.32% | 3.58% |
| Aditya Birla Renewables Ltd. | 2.23% | 3.44% |
| GMR Airports Ltd. | 1.86% | 2.95% |
| Cholamandalam Investment & Finance Co. Ltd.Perpetual | 1.31% | 3.37% |
| Motilal Oswal Financial Services Ltd. | 1.24% | 2.29% |
| Tata Projects Ltd. | 1.03% | 4.53% |
| Godrej Seeds & Genetics Ltd. | 0.97% | 1.13% |
| Eris Lifesciences Ltd. | 0.65% | 1.84% |
| Mahanagar Telephone Nigam Ltd. | 0.49% | 0.68% |
| Godrej Seeds & Genetics Ltd. | 0.49% | 1.13% |
| Godrej Seeds & Genetics Ltd. | 0.49% | 1.13% |
| Godrej Seeds & Genetics Ltd. | 0.49% | 1.13% |
| Corporate Debt Market Development Fund-A2 | 0.30% | 0.39% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 16.8% means 16.8% 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 SBI Conservative Hybrid Fund
| Security | % of fund |
|---|---|
| National Bank for Agriculture and Rural Development | 3.15% |
| Adani Power Ltd. | 2.96% |
| REC Ltd. | 2.66% |
| Torrent Power Ltd. | 2.46% |
| Bajaj Housing Finance Ltd. | 2.43% |
Largest holdings only in SBI Credit Risk Fund
| Security | % of fund |
|---|---|
| H.G. Infra Engineering Ltd. | 4.64% |
| NJ Capital Pvt. Ltd. | 4.54% |
| Renew Solar Energy (Jharkhand Five) Pvt. Ltd. | 4.53% |
| Lodha Developers Ltd. | 3.93% |
| Renserv Global Pvt Ltd. | 3.67% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | SBI Conservative Hybrid | SBI Credit Risk |
|---|---|---|
| Equity | 23.2% | 0.0% |
| Debt | 71.7% | 87.5% |
| Cash and others | 5.2% | 12.5% |
Market cap of stocks
| Market cap | SBI Conservative Hybrid | SBI Credit Risk |
|---|---|---|
| Large Cap | 8.5% | -- |
| Mid Cap | 2.6% | -- |
| Small Cap | 12.0% | -- |
| Not on AMFI's list | 0.1% | -- |
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 | SBI Conservative Hybrid | SBI Credit Risk |
|---|---|---|
| Industrial Products | 3.8% | 0.0% |
| Banks | 3.2% | 0.0% |
| Pharmaceuticals & Biotechnology | 2.9% | 0.0% |
| Consumer Durables | 2.0% | 0.0% |
| Finance | 1.4% | 0.0% |
| Insurance | 1.4% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
SBI Conservative Hybrid vs SBI Credit Risk: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | SBI Conservative Hybrid Fund | SBI Credit Risk Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.98% | 0.90% |
| Base expense ratio (Direct) | 0.80% | 0.76% |
| Total expense ratio (Regular) | 1.49% | 1.54% |
| Base expense ratio (Regular) | 1.23% | 1.31% |
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 SBI Conservative Hybrid with
- SBI Conservative Hybrid vs Parag Parikh Conservative Hybrid
- SBI Conservative Hybrid vs HSBC Conservative Hybrid
- SBI Conservative Hybrid vs ICICI Prudential Conservative Hybrid
- SBI Conservative Hybrid vs Nippon India Conservative Hybrid
- SBI Conservative Hybrid vs Aditya Birla Sun Life Conservative Hybrid
SBI Conservative Hybrid Fund vs SBI Credit Risk Fund: Frequently Asked Questions
What is the difference between SBI Conservative Hybrid Fund and SBI Credit Risk Fund?
SBI Conservative Hybrid Fund is a Conservative Hybrid fund, SBI Credit Risk Fund is a Credit Risk fund, run by SBI Mutual Fund. Their portfolios overlap 16.8%. SBI Conservative Hybrid Fund charges 0.98% a year and SBI Credit Risk Fund 0.90%.
Which has given higher returns, SBI Conservative Hybrid Fund or SBI Credit Risk Fund?
Over 1 year: SBI Conservative Hybrid Fund +2.04%, SBI Credit Risk Fund +7.14%. Over 3 years: SBI Conservative Hybrid Fund +8.01% a year, SBI Credit Risk Fund +8.30% a year. Over 5 years: SBI Conservative Hybrid Fund +7.93% a year, SBI Credit Risk Fund +7.62% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, SBI Conservative Hybrid Fund or SBI Credit Risk Fund?
SBI Credit Risk Fund charges less: 0.90% a year against 0.98%. These are the Direct plans' total expense ratios reported to AMFI.
How much do SBI Conservative Hybrid Fund and SBI Credit Risk Fund overlap?
16.8%. They hold 14 of the same securities, the largest shared ones being JTPM Metal Traders Ltd., JSW JFE Kalinga Steel Ltd., Aditya Birla Renewables Ltd.. From each fund's latest monthly portfolio.
Which is riskier, SBI Conservative Hybrid Fund or SBI Credit Risk Fund?
On SEBI's riskometer, SBI Conservative Hybrid Fund is rated High and SBI Credit Risk Fund High. Over 3 years, the standard deviation of daily returns was 3.63% and 1.04% a year.
Which is better for SIP, SBI Conservative Hybrid Fund or SBI Credit Risk Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,36,737 in SBI Conservative Hybrid Fund (XIRR 7.4% a year) and ₹7,49,209 in SBI Credit Risk Fund (XIRR 8.0% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both SBI Conservative Hybrid Fund and SBI Credit Risk Fund?
Yes. 16.8% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages SBI Conservative Hybrid Fund and SBI Credit Risk Fund?
SBI Conservative Hybrid Fund: Mansi Sajeja, Saurabh Pant, Milind Agrawal. SBI Credit Risk Fund: Lokesh Mallya.
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.