Tata Retirement Savings Fund Conservative vs Tata Retirement Savings Fund Moderate
Direct Plan, Growth option · Data as on 30-10-2026
Tata Retirement Savings Fund Conservative is a Solution fund and Tata Retirement Savings Fund Moderate is a Solution fund. In the 3 years to 30-10-2026, Tata Retirement Savings Fund Conservative (Direct) returned 7.2% a year and Tata Retirement Savings Fund Moderate (Direct) returned 11.1% a year. Tata Retirement Savings Fund Conservative charges 1.04% a year and Tata Retirement Savings Fund Moderate 0.84% (Direct plans). Their portfolios overlap 33.4%: they hold 54 of the same securities.
Tata Retirement Savings Fund Conservative
Solution
- 3 year return
- 7.2%
- Expense ratio
- 1.04%
- NAV
- ₹37.87
Tata Retirement Savings Fund Moderate
Solution
- 3 year return
- 11.1%
- Expense ratio
- 0.84%
- NAV
- ₹76.99
Which is better, Tata Retirement Savings Fund Conservative or Tata Retirement Savings Fund Moderate? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Tata Retirement Savings Fund Moderate returned more over 5 years: 9.3% a year against 6.2%.
- Tata Retirement Savings Fund Moderate returned more over 3 years: 11.1% a year against 7.2%.
- Tata Retirement Savings Fund Moderate costs less: 0.84% a year against 1.04% (Direct plans).
- Tata Retirement Savings Fund Conservative swung less over 3 years: a standard deviation of 4.7% a year against 12.5%.
- Tata Retirement Savings Fund Conservative fell less in its worst fall since 08-01-2013: −11.0% against −29.6%.
- Tata Retirement Savings Fund Moderate holds more in large companies: 43.1% of the fund in large caps against 14.8%.
- Tata Retirement Savings Fund Moderate is the larger fund: ₹2,115 Cr against ₹165 Cr.
- Their portfolios overlap 33.4%: 54 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 | Tata Retirement Savings Fund Conservative | Tata Retirement Savings Fund Moderate |
|---|---|---|
| Fund house | Tata Mutual Fund | Tata Mutual Fund |
| Category | Solution | Solution |
| AUM | ₹165 Cr (30-09-2026) | ₹2,115 Cr (30-09-2026) |
| NAV | ₹37.87 (Direct) | ₹76.99 (Direct) |
| Expense ratio (Direct) | 1.04% | 0.84% |
| Expense ratio (Regular) | 2.16% | 2.17% |
| Riskometer | Moderately High | Very High |
| Benchmark | CRISIL Short Term Debt Hybrid 75+25 Index | CRISIL Hybrid 25+75 - Aggressive Index |
| Launch date | 01-11-2011 | 01-11-2011 |
| Minimum investment | ₹5,000 | ₹5,000 |
| Lock in | 5 years, or until retirement if earlier | 5 years, or until retirement if earlier |
| Fund managers | Sonam Udasi, Murthy Nagarajan, Amit Somani | Sonam Udasi, Murthy Nagarajan, Amit Somani |
| Exit load | A) If redeemed / switched-out on or after attainment of retirement age i.e. 60 years of age - Nil. B) In case of Auto switch-out of units on occurrence of “Auto-switch trigger event” - Nil. C) 1% -If redeemed before 61 months from the date of allotment. | A) If redeemed / switched-out on or after attainment of retirement age i.e. 60 years of age - Nil. B) In case of Auto switch-out of units on occurrence of “Auto-switch trigger event” - Nil. C) 1% -If redeemed before 61 months from the date of allotment. |
Tata Retirement Savings Fund Conservative vs Tata Retirement Savings Fund Moderate: 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 |
|---|---|---|---|---|---|---|---|
| Tata Retirement Savings Fund Conservative (Direct) | −1.16% | −2.71% | +0.51% | +0.92% | +7.22% | +6.23% | +7.90% |
| Tata Retirement Savings Fund Moderate (Direct) | −2.36% | −5.91% | −0.55% | −1.37% | +11.08% | +9.31% | +12.14% |
Tata Retirement Savings Fund Conservative vs Tata Retirement Savings Fund Moderate: Year-wise Returns
| Year | ConservativeTata Retirement Savings Fund Conservative | ModerateTata Retirement Savings Fund Moderate |
|---|---|---|
| 2026to date | +0.55% | −1.13% |
| 2025 | +4.84% | +2.48% |
| 2024 | +11.23% | +21.22% |
| 2023 | +13.37% | +27.12% |
| 2022 | +1.30% | −0.46% |
| 2021 | +8.87% | +22.26% |
Tata Retirement Savings Fund Conservative vs Tata Retirement Savings Fund Moderate: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 2,614 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.
Tata Retirement Savings Fund Conservative (Direct)
Tata Retirement Savings Fund Moderate (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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Tata Retirement Savings Fund Conservative | 0.0 | 0.1 | 63.7 | 33.1 | 3.1 | 0.0 | 0.0 | 9.7% | 9.2% | 4.2% | 15.8% |
| Tata Retirement Savings Fund Moderate | 0.1 | 3.1 | 8.1 | 35.2 | 38.4 | 9.4 | 5.7 | 15.4% | 15.4% | −1.2% | 30.0% |
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.
Tata Retirement Savings Fund Conservative vs Tata Retirement Savings Fund Moderate: 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 |
|---|---|---|---|---|
| Tata Retirement Savings Fund ConservativeTata Retirement Savings Fund Conservative (Direct) | ₹16,60,000 | ₹30,30,346 | ₹13,70,346 | 8.3% |
| Tata Retirement Savings Fund ModerateTata Retirement Savings Fund Moderate (Direct) | ₹16,60,000 | ₹43,80,022 | ₹27,20,022 | 13.1% |
Tata Retirement Savings Fund ConservativeTata Retirement Savings Fund Conservative (Direct)
Tata Retirement Savings Fund ModerateTata Retirement Savings Fund Moderate (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.
Tata Retirement Savings Fund Conservative vs Tata Retirement Savings Fund Moderate: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Tata Retirement Savings Fund Conservative (Direct) | Tata Retirement Savings Fund Moderate (Direct) |
|---|---|---|
| Return (CAGR) | +0.92% | −1.37% |
| Standard deviation | 5.09% | 12.65% |
| Sharpe ratio | -0.85 | -0.52 |
| Sortino ratio | -1.12 | -0.70 |
| Maximum drawdown | −4.7% (23-10-2026) | −12.6% (30-03-2026) |
| 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 | Tata Retirement Savings Fund Conservative (Direct) | Tata Retirement Savings Fund Moderate (Direct) |
|---|---|---|
| Return (CAGR) | +7.22% | +11.08% |
| Standard deviation | 4.74% | 12.45% |
| Sharpe ratio | 0.25 | 0.41 |
| Sortino ratio | 0.34 | 0.54 |
| Maximum drawdown | −5.1% (03-03-2025) | −15.1% (03-03-2025) |
| 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 | Tata Retirement Savings Fund Conservative (Direct) | Tata Retirement Savings Fund Moderate (Direct) |
|---|---|---|
| Return (CAGR) | +6.23% | +9.31% |
| Standard deviation | 4.54% | 12.00% |
| Sharpe ratio | 0.09 | 0.29 |
| Sortino ratio | 0.13 | 0.39 |
| Maximum drawdown | −6.0% (17-06-2022) | −15.2% (17-06-2022) |
| 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 | Tata Retirement Savings Fund Conservative (Direct) | Tata Retirement Savings Fund Moderate (Direct) |
|---|---|---|
| Return (CAGR) | +9.24% | +14.31% |
| Standard deviation | 4.79% | 12.74% |
| Sharpe ratio | 0.67 | 0.65 |
| Sortino ratio | 0.92 | 0.88 |
| Maximum drawdown | −11.0% (23-03-2020) | −29.6% (23-03-2020) |
| 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.
Tata Retirement Savings Fund Conservative (Direct)
Tata Retirement Savings Fund Moderate (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Tata Retirement Savings Fund Conservative (Direct) | −11.0% | 20-02-2020 | 23-03-2020 | 23-06-2020 | 3 months | −3.8% |
| Tata Retirement Savings Fund Moderate (Direct) | −29.6% | 19-02-2020 | 23-03-2020 | 15-09-2020 | 6 months | −8.1% |
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.
Tata Retirement Savings Fund Conservative (Direct)
Tata Retirement Savings Fund Moderate (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.
Tata Retirement Savings Fund Conservative (Direct)
Tata Retirement Savings Fund Moderate (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.
Tata Retirement Savings Fund Conservative (Direct)
Tata Retirement Savings Fund Moderate (Direct)
Tata Retirement Savings Fund Conservative vs Tata Retirement Savings Fund Moderate: Portfolio Overlap
From each fund's latest monthly portfolio: Tata Retirement Savings Fund Conservative, September 2026; Tata Retirement Savings Fund Moderate, September 2026
Holdings in common
- Overlap
- 33.4%
- Held by both
- 54
- Only in Tata Retirement Savings Fund Conservative
- 2
- Only in Tata Retirement Savings Fund Moderate
- 12
| Security | % of Tata Retirement Savings Fund Conservative | % of Tata Retirement Savings Fund Moderate |
|---|---|---|
| GOI - 6.36% (16/02/2031) | 8.89% | 2.09% |
| SOLAR INDUSTRIES INDIA LTD | 1.50% | 4.74% |
| ICICI BANK LTD | 1.44% | 4.27% |
| GOI - 7.38% (20/06/2027) | 9.14% | 1.43% |
| GOI - 6.79% (07/10/2034) | 20.67% | 1.39% |
| ETERNAL LTD | 1.22% | 3.49% |
| RELIANCE INDUSTRIES LTD | 1.16% | 3.23% |
| MULTI COMMODITY EXCHANGE OF IND LTD | 1.09% | 3.23% |
| ATHER ENERGY LTD | 1.07% | 1.16% |
| COAL INDIA LTD | 0.99% | 1.75% |
| ** 07.51 % SHIVSHAKTI SECURITISATION TRUST - 28/09/2029 | 2.88% | 0.90% |
| ADANI PORTS AND SPECIAL ECONOMIC ZONE LTD | 0.78% | 2.07% |
| DIXON TECHNOLOGIES (INDIA) LTD | 0.78% | 1.62% |
| DOMS INDUSTRIES LTD | 0.76% | 1.46% |
| RADICO KHAITAN LTD | 0.71% | 2.60% |
| EXIDE INDUSTRIES LTD | 0.70% | 1.81% |
| KOTAK MAHINDRA BANK LTD | 0.68% | 1.90% |
| ONE 97 COMMUNICATIONS LTD | 0.64% | 1.71% |
| TATA CONSUMER PRODUCTS LTD | 0.61% | 1.68% |
| 360 ONE WAM LTD | 0.60% | 1.97% |
| TITAN COMPANY LTD | 0.60% | 1.64% |
| SUN PHARMACEUTICAL INDUSTRIES LTD | 0.59% | 1.70% |
| POLYCAB INDIA LTD | 0.58% | 1.48% |
| NIPPON LIFE INDIA ASSET MANAGEMENT LTD | 0.58% | 1.59% |
| BIKAJI FOODS INTERNATIONAL LTD | 0.57% | 1.15% |
| FUJIYAMA POWER SYSTEMS LTD | 0.56% | 1.37% |
| BSE LTD | 0.55% | 1.58% |
| NESTLE INDIA LTD | 0.53% | 1.45% |
| KARUR VYSYA BANK LTD | 0.53% | 1.93% |
| OIL INDIA LTD | 0.53% | 1.44% |
| BILLIONBRAINS GARAGE VENTURES LTD (GROWW) | 0.53% | 1.53% |
| HCL TECHNOLOGIES LTD | 0.47% | 1.41% |
| GOI - 7.36% (12/09/2052) | 5.85% | 0.46% |
| PB FINTECH LTD | 0.41% | 1.27% |
| KIRLOSKAR PNEUMATIC COMPANY LTD | 0.41% | 1.95% |
| APOLLO HOSPITALS ENTERPRISE LTD | 0.40% | 1.15% |
| RAINBOW CHILDRENS MEDICARE LTD | 0.39% | 1.73% |
| GRINDWELL NORTON LTD | 0.37% | 0.68% |
| ADANI POWER LTD | 0.34% | 1.08% |
| TATA CONSULTANCY SERVICES LTD | 0.33% | 0.79% |
| SHRIRAM FINANCE LTD | 0.32% | 0.84% |
| MUTHOOT FINANCE LTD | 0.31% | 1.22% |
| VARUN BEVERAGES LTD | 0.31% | 0.85% |
| THE RAMCO CEMENTS LTD | 0.28% | 0.83% |
| MANAPPURAM FINANCE LTD | 0.27% | 0.54% |
| GLAXOSMITHKLINE PHARMACEUTICALS LTD | 0.27% | 0.51% |
| MARUTI SUZUKI INDIA LTD | 0.26% | 0.76% |
| GODREJ INDUSTRIES LTD | 0.25% | 1.18% |
| GODREJ AGROVET LTD | 0.23% | 0.52% |
| VEDANTA ALUMINIUM METAL LTD | 0.20% | 0.53% |
| ZENSAR TECHNOLOGIES LTD | 0.18% | 0.52% |
| ADANI ENERGY SOLUTIONS LTD | 0.14% | 0.90% |
| DIAMOND POWER INFRASTRUCTURE LTD | 0.09% | 0.66% |
| RBL BANK LTD | 0.04% | 0.96% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 33.4% means 33.4% 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 Tata Retirement Savings Fund Conservative
| Security | % of fund |
|---|---|
| GOI - 7.17% (17/04/2030) | 9.15% |
| GOI - 6.90% (15/04/2065) | 5.42% |
Largest holdings only in Tata Retirement Savings Fund Moderate
| Security | % of fund |
|---|---|
| GOI - 6.94% (11/05/2036) | 1.77% |
| PRICOL LTD | 1.42% |
| ** 07.44 % NABARD - 24/02/2028 | 1.18% |
| ** 08.75 % VEDANTA LTD - 28/09/2029 | 1.18% |
| ** 07.80 % HDFC BANK LTD - 03/05/2033 | 1.17% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Tata Retirement Savings Fund Conservative | Tata Retirement Savings Fund Moderate |
|---|---|---|
| Equity | 27.1% | 79.1% |
| Debt | 62.0% | 14.1% |
| Cash and others | 10.9% | 6.9% |
Market cap of stocks
| Market cap | Tata Retirement Savings Fund Conservative | Tata Retirement Savings Fund Moderate |
|---|---|---|
| Large Cap | 14.8% | 43.1% |
| Mid Cap | 5.9% | 17.1% |
| Small Cap | 6.0% | 16.9% |
| Not on AMFI's list | 0.4% | 1.9% |
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 | Tata Retirement Savings Fund Conservative | Tata Retirement Savings Fund Moderate |
|---|---|---|
| Capital Markets | 3.4% | 9.9% |
| Banks | 2.7% | 9.1% |
| Chemicals & Petrochemicals | 1.5% | 4.7% |
| Industrial Products | 1.4% | 4.1% |
| Retailing | 1.2% | 3.5% |
| Beverages | 1.0% | 3.5% |
| Consumer Durables | 1.4% | 3.3% |
| Automobiles | 1.3% | 1.9% |
The six largest sectors of each fund's stocks, % of the fund.
Tata Retirement Savings Fund Conservative vs Tata Retirement Savings Fund Moderate: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Tata Retirement Savings Fund Conservative | Tata Retirement Savings Fund Moderate |
|---|---|---|
| Total expense ratio (Direct) | 1.04% | 0.84% |
| Base expense ratio (Direct) | 0.85% | 0.60% |
| Total expense ratio (Regular) | 2.16% | 2.17% |
| Base expense ratio (Regular) | 1.83% | 1.75% |
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.
Tata Retirement Savings Fund Conservative vs Tata Retirement Savings Fund Moderate: Frequently Asked Questions
What is the difference between Tata Retirement Savings Fund Conservative and Tata Retirement Savings Fund Moderate?
Tata Retirement Savings Fund Conservative is a Solution fund, Tata Retirement Savings Fund Moderate is a Solution fund, run by Tata Mutual Fund. Their portfolios overlap 33.4%. Tata Retirement Savings Fund Conservative charges 1.04% a year and Tata Retirement Savings Fund Moderate 0.84%.
Which has given higher returns, Tata Retirement Savings Fund Conservative or Tata Retirement Savings Fund Moderate?
Over 1 year: Tata Retirement Savings Fund Conservative +0.92%, Tata Retirement Savings Fund Moderate −1.37%. Over 3 years: Tata Retirement Savings Fund Conservative +7.22% a year, Tata Retirement Savings Fund Moderate +11.08% a year. Over 5 years: Tata Retirement Savings Fund Conservative +6.23% a year, Tata Retirement Savings Fund Moderate +9.31% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Tata Retirement Savings Fund Conservative or Tata Retirement Savings Fund Moderate?
Tata Retirement Savings Fund Moderate charges less: 0.84% a year against 1.04%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Tata Retirement Savings Fund Conservative and Tata Retirement Savings Fund Moderate overlap?
33.4%. They hold 54 of the same securities, the largest shared ones being GOI - 6.36% (16/02/2031), SOLARINDS, ICICIBANK. From each fund's latest monthly portfolio.
Which is riskier, Tata Retirement Savings Fund Conservative or Tata Retirement Savings Fund Moderate?
On SEBI's riskometer, Tata Retirement Savings Fund Conservative is rated Moderately High and Tata Retirement Savings Fund Moderate Very High. Over 3 years, the standard deviation of daily returns was 4.74% and 12.45% a year.
Which is better for SIP, Tata Retirement Savings Fund Conservative or Tata Retirement Savings Fund Moderate?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,13,602 in Tata Retirement Savings Fund Conservative (XIRR 6.1% a year) and ₹7,71,460 in Tata Retirement Savings Fund Moderate (XIRR 9.2% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Tata Retirement Savings Fund Conservative and Tata Retirement Savings Fund Moderate?
Yes. 33.4% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Tata Retirement Savings Fund Conservative and Tata Retirement Savings Fund Moderate?
Tata Retirement Savings Fund Conservative: Sonam Udasi, Murthy Nagarajan, Amit Somani. Tata Retirement Savings Fund Moderate: Sonam Udasi, Murthy Nagarajan, Amit Somani.
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.