Tata Retirement Savings Fund Moderate vs Tata Retirement Savings Fund Progressive
Direct Plan, Growth option · Data as on 30-10-2026
Tata Retirement Savings Fund Moderate is a Solution fund and Tata Retirement Savings Fund Progressive is a Solution fund. In the 3 years to 30-10-2026, Tata Retirement Savings Fund Moderate (Direct) returned 11.1% a year and Tata Retirement Savings Fund Progressive (Direct) returned 11.5% a year. Tata Retirement Savings Fund Moderate charges 0.84% a year and Tata Retirement Savings Fund Progressive 0.83% (Direct plans). Their portfolios overlap 77.5%: they hold 51 of the same securities.
Tata Retirement Savings Fund Moderate
Solution
- 3 year return
- 11.1%
- Expense ratio
- 0.84%
- NAV
- ₹76.99
Tata Retirement Savings Fund Progressive
Solution
- 3 year return
- 11.5%
- Expense ratio
- 0.83%
- NAV
- ₹78.90
Which is better, Tata Retirement Savings Fund Moderate or Tata Retirement Savings Fund Progressive? 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 Progressive returned more over 5 years: 9.3% a year against 9.3%.
- Tata Retirement Savings Fund Progressive returned more over 3 years: 11.5% a year against 11.1%.
- Tata Retirement Savings Fund Progressive costs less: 0.83% a year against 0.84% (Direct plans).
- Tata Retirement Savings Fund Moderate swung less over 3 years: a standard deviation of 12.5% a year against 14.5%.
- Tata Retirement Savings Fund Moderate fell less in its worst fall since 04-01-2013: −29.6% against −34.2%.
- Tata Retirement Savings Fund Moderate is the larger fund: ₹2,115 Cr against ₹2,104 Cr.
- Their portfolios overlap 77.5%: 51 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 Moderate | Tata Retirement Savings Fund Progressive |
|---|---|---|
| Fund house | Tata Mutual Fund | Tata Mutual Fund |
| Category | Solution | Solution |
| AUM | ₹2,115 Cr (30-09-2026) | ₹2,104 Cr (30-09-2026) |
| NAV | ₹76.99 (Direct) | ₹78.90 (Direct) |
| Expense ratio (Direct) | 0.84% | 0.83% |
| Expense ratio (Regular) | 2.17% | 2.20% |
| Riskometer | Very High | Very High |
| Benchmark | CRISIL Hybrid 25+75 - Aggressive Index | Nifty 500 TRI |
| 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 | Murthy Nagarajan, Sonam Udasi |
| 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 Moderate vs Tata Retirement Savings Fund Progressive: 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 Moderate (Direct) | −2.36% | −5.91% | −0.55% | −1.37% | +11.08% | +9.31% | +12.14% |
| Tata Retirement Savings Fund Progressive (Direct) | −2.60% | −6.88% | −1.00% | −1.95% | +11.53% | +9.32% | +13.02% |
Tata Retirement Savings Fund Moderate vs Tata Retirement Savings Fund Progressive: Year-wise Returns
| Year | ModerateTata Retirement Savings Fund Moderate | ProgressiveTata Retirement Savings Fund Progressive |
|---|---|---|
| 2026to date | −1.13% | −1.40% |
| 2025 | +2.48% | +0.24% |
| 2024 | +21.22% | +23.49% |
| 2023 | +27.12% | +30.88% |
| 2022 | −0.46% | −2.43% |
| 2021 | +22.26% | +25.20% |
Tata Retirement Savings Fund Moderate vs Tata Retirement Savings Fund Progressive: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of Tata Retirement Savings Fund Progressive
Rolling returns
Every 3-year holding period, 2,666 of them, one for each trading day from 04-01-2016 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 Moderate (Direct)
Tata Retirement Savings Fund Progressive (Direct)
Nifty 500 TRI
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 | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tata Retirement Savings Fund Moderate | 0.1 | 3.1 | 8.1 | 35.1 | 38.4 | 9.5 | 5.7 | 15.4% | 15.4% | −1.2% | 30.0% | 55% |
| Tata Retirement Savings Fund Progressive | 0.1 | 3.1 | 6.3 | 24.8 | 47.7 | 14.1 | 3.9 | 16.1% | 16.7% | −1.7% | 28.8% | 64% |
| Nifty 500 TRI | 1.9 | 4.3 | 7.8 | 37.0 | 34.8 | 11.3 | 2.9 | 14.7% | 14.9% | −6.3% | 33.5% | -- |
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 500 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 04-01-2013. Past returns do not promise future returns.
Tata Retirement Savings Fund Moderate vs Tata Retirement Savings Fund Progressive: 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 04-01-2013 to 30-10-2026: 166 instalments, ₹16,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Tata Retirement Savings Fund ModerateTata Retirement Savings Fund Moderate (Direct) | ₹16,60,000 | ₹43,80,022 | ₹27,20,022 | 13.1% |
| Tata Retirement Savings Fund ProgressiveTata Retirement Savings Fund Progressive (Direct) | ₹16,60,000 | ₹45,73,245 | ₹29,13,245 | 13.6% |
Tata Retirement Savings Fund ModerateTata Retirement Savings Fund Moderate (Direct)
Tata Retirement Savings Fund ProgressiveTata Retirement Savings Fund Progressive (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 Moderate vs Tata Retirement Savings Fund Progressive: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Tata Retirement Savings Fund Moderate (Direct) | Tata Retirement Savings Fund Progressive (Direct) |
|---|---|---|
| Return (CAGR) | −1.37% | −1.95% |
| Standard deviation | 12.65% | 14.59% |
| Sharpe ratio | -0.52 | -0.49 |
| Sortino ratio | -0.70 | -0.66 |
| Maximum drawdown | −12.6% (30-03-2026) | −14.1% (31-03-2026) |
| Beta | -- | 0.96 |
| Alpha | -- | +4.89% |
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 Moderate (Direct) | Tata Retirement Savings Fund Progressive (Direct) |
|---|---|---|
| Return (CAGR) | +11.08% | +11.53% |
| Standard deviation | 12.45% | 14.52% |
| Sharpe ratio | 0.41 | 0.38 |
| Sortino ratio | 0.54 | 0.51 |
| Maximum drawdown | −15.1% (03-03-2025) | −18.8% (03-03-2025) |
| Beta | -- | 0.96 |
| Alpha | -- | +1.47% |
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 Moderate (Direct) | Tata Retirement Savings Fund Progressive (Direct) |
|---|---|---|
| Return (CAGR) | +9.31% | +9.32% |
| Standard deviation | 12.00% | 14.06% |
| Sharpe ratio | 0.29 | 0.25 |
| Sortino ratio | 0.39 | 0.33 |
| Maximum drawdown | −15.2% (17-06-2022) | −18.8% (03-03-2025) |
| Beta | -- | 0.93 |
| Alpha | -- | +0.71% |
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 Moderate (Direct) | Tata Retirement Savings Fund Progressive (Direct) |
|---|---|---|
| Return (CAGR) | +14.31% | +14.40% |
| Standard deviation | 12.74% | 15.13% |
| Sharpe ratio | 0.65 | 0.55 |
| Sortino ratio | 0.88 | 0.75 |
| Maximum drawdown | −29.6% (23-03-2020) | −34.2% (23-03-2020) |
| Beta | -- | 0.92 |
| Alpha | -- | +2.18% |
From daily NAVs, 04-01-2013 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 Moderate (Direct)
Tata Retirement Savings Fund Progressive (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Tata Retirement Savings Fund Moderate (Direct) | −29.6% | 19-02-2020 | 23-03-2020 | 15-09-2020 | 6 months | −8.1% |
| Tata Retirement Savings Fund Progressive (Direct) | −34.2% | 12-02-2020 | 23-03-2020 | 08-10-2020 | 7 months | −9.2% |
| Nifty 500 TRI | −38.1% | 17-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −8.8% |
From daily values since 04-01-2013, 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 Moderate (Direct)
Tata Retirement Savings Fund Progressive (Direct)
Nifty 500 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.
Tata Retirement Savings Fund Moderate (Direct)
Tata Retirement Savings Fund Progressive (Direct)
Nifty 500 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.
Tata Retirement Savings Fund Moderate (Direct)
Tata Retirement Savings Fund Progressive (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Tata Retirement Savings Fund Moderate (Direct) | 87% | 69% | 5.73% |
| Tata Retirement Savings Fund Progressive (Direct) | 98% | 86% | 5.40% |
From month-end values since 04-01-2013. 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.
Tata Retirement Savings Fund Moderate vs Tata Retirement Savings Fund Progressive: Portfolio Overlap
From each fund's latest monthly portfolio: Tata Retirement Savings Fund Moderate, September 2026; Tata Retirement Savings Fund Progressive, September 2026
Holdings in common
- Overlap
- 77.5%
- Held by both
- 51
- Only in Tata Retirement Savings Fund Moderate
- 15
- Only in Tata Retirement Savings Fund Progressive
- 1
| Security | % of Tata Retirement Savings Fund Moderate | % of Tata Retirement Savings Fund Progressive |
|---|---|---|
| SOLAR INDUSTRIES INDIA LTD | 4.74% | 5.39% |
| ICICI BANK LTD | 4.27% | 4.97% |
| ETERNAL LTD | 3.49% | 4.11% |
| MULTI COMMODITY EXCHANGE OF IND LTD | 3.23% | 3.81% |
| RELIANCE INDUSTRIES LTD | 3.23% | 3.66% |
| RADICO KHAITAN LTD | 2.60% | 3.17% |
| ADANI PORTS AND SPECIAL ECONOMIC ZONE LTD | 2.07% | 2.46% |
| 360 ONE WAM LTD | 1.97% | 2.25% |
| KARUR VYSYA BANK LTD | 1.93% | 2.14% |
| KOTAK MAHINDRA BANK LTD | 1.90% | 2.28% |
| EXIDE INDUSTRIES LTD | 1.81% | 2.12% |
| KIRLOSKAR PNEUMATIC COMPANY LTD | 1.95% | 1.77% |
| COAL INDIA LTD | 1.75% | 2.05% |
| RAINBOW CHILDRENS MEDICARE LTD | 1.73% | 2.14% |
| ONE 97 COMMUNICATIONS LTD | 1.71% | 2.01% |
| SUN PHARMACEUTICAL INDUSTRIES LTD | 1.70% | 2.02% |
| TATA CONSUMER PRODUCTS LTD | 1.68% | 1.73% |
| TITAN COMPANY LTD | 1.64% | 1.96% |
| DIXON TECHNOLOGIES (INDIA) LTD | 1.62% | 2.02% |
| NIPPON LIFE INDIA ASSET MANAGEMENT LTD | 1.59% | 1.88% |
| BSE LTD | 1.58% | 1.85% |
| BILLIONBRAINS GARAGE VENTURES LTD (GROWW) | 1.53% | 1.82% |
| POLYCAB INDIA LTD | 1.48% | 1.83% |
| DOMS INDUSTRIES LTD | 1.46% | 1.71% |
| NESTLE INDIA LTD | 1.45% | 1.68% |
| OIL INDIA LTD | 1.44% | 1.63% |
| HCL TECHNOLOGIES LTD | 1.41% | 1.68% |
| FUJIYAMA POWER SYSTEMS LTD | 1.37% | 1.89% |
| PB FINTECH LTD | 1.27% | 1.55% |
| MUTHOOT FINANCE LTD | 1.22% | 1.38% |
| GODREJ INDUSTRIES LTD | 1.18% | 1.25% |
| ATHER ENERGY LTD | 1.16% | 1.51% |
| BIKAJI FOODS INTERNATIONAL LTD | 1.15% | 1.34% |
| APOLLO HOSPITALS ENTERPRISE LTD | 1.15% | 1.40% |
| ADANI POWER LTD | 1.08% | 1.50% |
| GRASIM INDUSTRIES LTD | 1.04% | 1.31% |
| RBL BANK LTD | 0.96% | 1.15% |
| ADANI ENERGY SOLUTIONS LTD | 0.90% | 1.12% |
| VARUN BEVERAGES LTD | 0.85% | 1.00% |
| SHRIRAM FINANCE LTD | 0.84% | 1.01% |
| THE RAMCO CEMENTS LTD | 0.83% | 1.01% |
| TATA CONSULTANCY SERVICES LTD | 0.79% | 0.88% |
| MARUTI SUZUKI INDIA LTD | 0.76% | 0.92% |
| GRINDWELL NORTON LTD | 0.68% | 1.28% |
| DIAMOND POWER INFRASTRUCTURE LTD | 0.66% | 0.90% |
| MANAPPURAM FINANCE LTD | 0.54% | 0.68% |
| VEDANTA ALUMINIUM METAL LTD | 0.53% | 0.65% |
| GODREJ AGROVET LTD | 0.52% | 0.57% |
| ZENSAR TECHNOLOGIES LTD | 0.52% | 0.60% |
| GLAXOSMITHKLINE PHARMACEUTICALS LTD | 0.51% | 0.56% |
| CREDITACCESS GRAMEEN LTD | 0.19% | 0.87% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 77.5% means 77.5% 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 Moderate
| Security | % of fund |
|---|---|
| GOI - 6.36% (16/02/2031) | 2.09% |
| GOI - 6.94% (11/05/2036) | 1.77% |
| GOI - 7.38% (20/06/2027) | 1.43% |
| PRICOL LTD | 1.42% |
| GOI - 6.79% (07/10/2034) | 1.39% |
Largest holdings only in Tata Retirement Savings Fund Progressive
| Security | % of fund |
|---|---|
| ABBOTT INDIA LTD | 1.04% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Tata Retirement Savings Fund Moderate | Tata Retirement Savings Fund Progressive |
|---|---|---|
| Equity | 79.1% | 93.5% |
| Debt | 14.1% | 0.0% |
| Cash and others | 6.9% | 6.5% |
Market cap of stocks
| Market cap | Tata Retirement Savings Fund Moderate | Tata Retirement Savings Fund Progressive |
|---|---|---|
| Large Cap | 43.1% | 50.7% |
| Mid Cap | 17.1% | 21.2% |
| Small Cap | 16.9% | 19.9% |
| Not on AMFI's list | 1.9% | 1.8% |
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 | Tata Retirement Savings Fund Moderate | Tata Retirement Savings Fund Progressive |
|---|---|---|
| Capital Markets | 9.9% | 11.6% |
| Banks | 9.1% | 10.5% |
| Chemicals & Petrochemicals | 4.7% | 5.4% |
| Industrial Products | 4.1% | 4.9% |
| Beverages | 3.5% | 4.2% |
| Retailing | 3.5% | 4.1% |
The six largest sectors of each fund's stocks, % of the fund.
Tata Retirement Savings Fund Moderate vs Tata Retirement Savings Fund Progressive: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Tata Retirement Savings Fund Moderate | Tata Retirement Savings Fund Progressive |
|---|---|---|
| Total expense ratio (Direct) | 0.84% | 0.83% |
| Base expense ratio (Direct) | 0.60% | 0.57% |
| Total expense ratio (Regular) | 2.17% | 2.20% |
| Base expense ratio (Regular) | 1.75% | 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 Moderate vs Tata Retirement Savings Fund Progressive: Frequently Asked Questions
What is the difference between Tata Retirement Savings Fund Moderate and Tata Retirement Savings Fund Progressive?
Tata Retirement Savings Fund Moderate is a Solution fund, Tata Retirement Savings Fund Progressive is a Solution fund, run by Tata Mutual Fund. Their portfolios overlap 77.5%. Tata Retirement Savings Fund Moderate charges 0.84% a year and Tata Retirement Savings Fund Progressive 0.83%.
Which has given higher returns, Tata Retirement Savings Fund Moderate or Tata Retirement Savings Fund Progressive?
Over 1 year: Tata Retirement Savings Fund Moderate −1.37%, Tata Retirement Savings Fund Progressive −1.95%. Over 3 years: Tata Retirement Savings Fund Moderate +11.08% a year, Tata Retirement Savings Fund Progressive +11.53% a year. Over 5 years: Tata Retirement Savings Fund Moderate +9.31% a year, Tata Retirement Savings Fund Progressive +9.32% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Tata Retirement Savings Fund Moderate or Tata Retirement Savings Fund Progressive?
Tata Retirement Savings Fund Progressive charges less: 0.83% a year against 0.84%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Tata Retirement Savings Fund Moderate and Tata Retirement Savings Fund Progressive overlap?
77.5%. They hold 51 of the same securities, the largest shared ones being SOLARINDS, ICICIBANK, ETERNAL. From each fund's latest monthly portfolio.
Which is riskier, Tata Retirement Savings Fund Moderate or Tata Retirement Savings Fund Progressive?
On SEBI's riskometer, Tata Retirement Savings Fund Moderate is rated Very High and Tata Retirement Savings Fund Progressive Very High. Over 3 years, the standard deviation of daily returns was 12.45% and 14.52% a year.
Which is better for SIP, Tata Retirement Savings Fund Moderate or Tata Retirement Savings Fund Progressive?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,71,460 in Tata Retirement Savings Fund Moderate (XIRR 9.2% a year) and ₹7,75,237 in Tata Retirement Savings Fund Progressive (XIRR 9.4% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Tata Retirement Savings Fund Moderate and Tata Retirement Savings Fund Progressive?
Yes. 77.5% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Tata Retirement Savings Fund Moderate and Tata Retirement Savings Fund Progressive?
Tata Retirement Savings Fund Moderate: Sonam Udasi, Murthy Nagarajan, Amit Somani. Tata Retirement Savings Fund Progressive: Murthy Nagarajan, Sonam Udasi.
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.