HDFC Banking & Financial Services Fund

ThematicDirect and Regular plans, Growth and IDCW options

Data as on 30-10-2026

HDFC Banking & Financial Services Fund is a Thematic fund run by HDFC Mutual Fund. On 30-09-2026, it managed ₹4,425 Cr of investors' money. In the 3 years to 30-10-2026, its Direct plan returned 11.0% a year and its Regular plan returned 9.8% a year. Its benchmark, Nifty Financial Services TRI, returned 9.8% a year over the same 3 years.

NAV (Direct plan): ₹17.86; ▼ 0.50%30-10-2026
NAV (Regular plan): ₹16.59; ▼ 0.51%30-10-2026
Expense ratio: 0.96%Direct1.99%Regular; 0.96%; A year
Riskometer: Very High; Set by the fund house
3 year return: 11.0%Direct9.8%Regular; 11.0%; A year

HDFC Banking & Financial Services Fund NAV Today

NAV on 30-10-2026: Direct Plan Growth ₹17.86 (down 0.50% that day); Regular Plan Growth ₹16.59 (down 0.51% that day).

This fund (Direct plan)

₹17.855

HDFC Banking & Financial Services Fund Returns vs Nifty Financial Services TRI

Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.

Trailing returns
Period	1M	3M	6M	1Y	3Y	5Y	10Y
This fund (Direct)	−2.25%	−7.01%	−3.14%	−5.10%	+11.03%	+10.01%	--
This fund (Regular)	−2.34%	−7.26%	−3.65%	−6.11%	+9.76%	+8.57%	--
Nifty Financial Services TRI	+0.30%	−5.63%	−2.88%	−8.88%	+9.77%	+6.64%	+12.73%
Thematic average	−2.09%	−4.52%	+0.86%	−1.22%	+13.76%	+11.62%	--
Best in Thematic	+11.54%	+11.27%	+22.16%	+75.71%	+54.78%	+21.14%	--
Worst in Thematic	−16.05%	−11.74%	−13.97%	−22.44%	−4.46%	+3.65%	--
Rank in Thematic	117/235	174/232	163/232	125/215	84/133	58/96	--

Category rows compare the Direct plans of 235 Thematic funds. Rank 1 is the highest return.

HDFC Banking & Financial Services Fund Year-wise Returns

Return of each calendar year
Year	Direct	Regular	Nifty Financial Services TRI
2026to date	−7.43%	−8.24%	−9.69%
2025	+18.13%	+16.87%	+18.60%
2024	+11.28%	+9.88%	+10.52%
2023	+23.24%	+21.45%	+14.31%
2022	+16.99%	+15.13%	+10.47%

HDFC Banking & Financial Services Fund Rolling Returns

The return of every holding period in the fund's history, not only the one that ends today

Rolling returns

Each point is the yearly return of one 3-year holding period, plotted on the day it ended. There are 576 periods, one for each trading day from 01-07-2024 to 30-10-2026.

0%5%10%15%20%25%30%

Sept 2021
to
Sept 2024Jan 2022
to
Jan 2025Jun 2022
to
Jun 2025Nov 2022
to
Nov 2025Apr 2023
to
Apr 2026Aug 2023
to
Aug 2026

HDFC Banking & Financial Services Fund (Direct)Nifty Financial Services TRI

Every holding period at a glance

Period	Periods	Median	Lowest	Highest	With a loss	Benchmark median	Beat benchmark
1 year	1,065	14.8%	−5.8%	40.3%	4%	13.0%	73%
2 years	819	16.7%	2.3%	34.0%	0%	13.8%	80%
3 years	576	16.8%	10.8%	26.1%	0%	12.9%	100%
5 years	83	13.4%	9.0%	14.8%	0%	9.5%	100%

Every SIP holding period at a glance

Period	Periods	Median	Lowest	Highest	With a loss	Benchmark median	Beat benchmark
1 year	52	14.8%	−16.7%	35.3%	13%	12.0%	77%
2 years	40	17.1%	−1.2%	30.4%	3%	13.9%	75%
3 years	28	16.1%	5.3%	24.4%	0%	14.8%	93%

Lumpsum: the yearly rate (CAGR) from the NAV on a period's first day to the NAV on its last. SIP: the XIRR of the monthly instalments and their value on the last day. "With a loss" counts the periods that ended below the money put in. "Beat benchmark" counts the periods in which the fund did better than Nifty Financial Services TRI over the same days. Past returns do not promise future returns.

HDFC Banking & Financial Services Fund Risk

How much it swings, and the falls an investor had to sit through

Risk and return

Measure	HDFC Banking & Financial Services Fund (Direct)This fund	Nifty Financial Services TRI
Return (CAGR)	−5.10%	−8.88%
Standard deviation	17.32%	17.58%
Sharpe ratio	-0.60	-0.80
Sortino ratio	-0.83	-1.11
Maximum drawdown	−17.1% (30-03-2026)	−17.3% (30-03-2026)
Beta	0.96	1.00
Alpha	+3.27%	0.00%

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: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.

Measure	HDFC Banking & Financial Services Fund (Direct)This fund	Nifty Financial Services TRI
Return (CAGR)	+11.03%	+9.77%
Standard deviation	15.81%	16.24%
Sharpe ratio	0.32	0.23
Sortino ratio	0.44	0.32
Maximum drawdown	−17.1% (30-03-2026)	−17.3% (30-03-2026)
Beta	0.94	1.00
Alpha	+1.48%	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: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.

Measure	HDFC Banking & Financial Services Fund (Direct)This fund	Nifty Financial Services TRI
Return (CAGR)	+10.01%	+6.64%
Standard deviation	16.15%	16.70%
Sharpe ratio	0.26	0.05
Sortino ratio	0.36	0.07
Maximum drawdown	−20.3% (16-06-2022)	−21.4% (16-06-2022)
Beta	0.94	1.00
Alpha	+3.43%	0.00%

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: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.

Measure	HDFC Banking & Financial Services Fund (Direct)This fund	Nifty Financial Services TRI
Return (CAGR)	+11.68%	+9.01%
Standard deviation	15.98%	16.57%
Sharpe ratio	0.38	0.20
Sortino ratio	0.52	0.28
Maximum drawdown	−21.7% (16-06-2022)	−23.1% (16-06-2022)
Beta	0.93	1.00
Alpha	+2.88%	0.00%

From daily NAVs, 01-07-2021 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: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.

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.

−25%−20%−15%−10%−5%0%

20222023202420252026

HDFC Banking & Financial Services Fund (Direct)Nifty Financial Services TRI

	Worst fall	High before it	Bottom	Back at the high	Time to climb back	Below its high today
HDFC Banking & Financial Services Fund (Direct)	−21.7%	26-10-2021	16-06-2022	11-11-2022	5 months	−10.1%
Nifty Financial Services TRI	−23.1%	26-10-2021	16-06-2022	04-05-2023	11 months	−12.4%

From the Direct plan's daily NAV since 01-07-2021, adjusted for unit splits, and Nifty Financial Services TRI over the same days. "Time to climb back" runs from the bottom to the first day back at the old high.

HDFC Banking & Financial Services Fund vs Other Thematic Funds

The five Thematic funds with the best three year return, and this fund. Direct plans.

Fund name	Rank	AUM (Cr)	Exp. ratio	1Y return	3Y return	3Y alpha	3Y beta	3Y Sharpe	3Y Sortino
Nippon India Taiwan Equity Fund	1/133	1,147	1.08%	+75.71%	+54.78%	--	--	1.38	2.03	Compare
HDFC Defence Fund	2/133	11,493	0.90%	+13.79%	+34.76%	−0.18%	0.83	1.12	1.54	Compare
HDFC Pharma and Healthcare Fund	3/133	3,501	1.05%	+23.12%	+30.53%	+8.23%	0.96	1.74	2.49	Compare
SBI Healthcare Opportunities Fund	4/133	5,870	1.01%	+17.12%	+24.60%	+3.61%	0.88	1.42	2.03	Compare
Aditya Birla Sun Life International Equity Fund	5/133	352	2.00%	+13.97%	+24.46%	--	--	1.49	2.16	Compare
HDFC Banking & Financial Services Fund	84/133	4,425	0.96%	−5.10%	+11.03%	+1.48%	0.94	0.32	0.44

AUM is each fund's size at the end of its last reported month, from its own portfolio file. We calculate the risk ratios from daily NAVs over the last three years. The risk-free return is what NSE's overnight rate index earned over the same years. Alpha and beta compare each fund with its own benchmark's TRI. "--" means we have no figure: for alpha and beta, no daily series for that benchmark.

HDFC Banking & Financial Services Fund Expense Ratio and Costs

What each plan charges a year, in force from 19-10-2026

Plan	Base expense ratio	Brokerage	Transaction costs	Levies and GST	Total expense ratio	Thematic median	Cost rank (1 = cheapest)
Direct	0.74%	0.02%	0.00%	0.20%	0.96%	1.18%	46/235
Regular	1.62%	0.02%	0.00%	0.35%	1.99%	2.41%	25/235

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, the cost of executing trades, and statutory levies with GST. From AMFI's expense ratio file. Cost rank: where this plan comes when the Thematic funds' plans of the same type are sorted from the lowest total expense ratio to the highest.

Direct vs Regular: what the gap cost

Both plans own the same portfolio, so the difference in what they earned is the Regular plan's extra cost, taken out of its NAV.

Over the last	Regular	Direct	Direct earned more by	₹1 lakh became (Regular)	₹1 lakh became (Direct)
1 year	−6.11%	−5.10%	1.01%	₹93,890	₹94,900
3 years	9.76%	11.03%	1.27% a year	₹1,32,231	₹1,36,874
5 years	8.57%	10.01%	1.44% a year	₹1,50,851	₹1,61,124

Returns over more than 1 year are a rate a year (CAGR). ₹1 lakh invested once at the start of each period, valued on the last NAV.

HDFC Banking & Financial Services Fund SIP Calculator

What a one-time or monthly investment in this fund would be worth today, from its own NAV history

Growth of an investment

Every month₹

Step up each year

PeriodFor

₹10,000 on the first trading day of every month, from 01-07-2021 to 30-10-2026: 64 instalments, ₹6,40,000 in all.

Investment	Invested	Value now	Gain	Return a year
Direct planHDFC Banking & Financial Services Fund (Direct)	₹6,40,000	₹8,35,762	₹1,95,762	9.9%
Regular planHDFC Banking & Financial Services Fund (Regular)	₹6,40,000	₹8,05,255	₹1,65,255	8.6%
Nifty Financial Services TRI	₹6,40,000	₹7,73,323	₹1,33,323	7.0%
Category averageCategory average, 235 Thematic funds	₹6,40,000	₹8,82,609	₹2,42,609	12.0%

₹0₹2.0 L₹4.0 L₹6.0 L₹8.0 L₹10.0 L

20222023202420252026

Direct planHDFC Banking & Financial Services Fund (Direct)Regular planHDFC Banking & Financial Services Fund (Regular)Nifty Financial Services TRICategory averageCategory average, 235 Thematic fundsAmount invested

From each plan's published NAV (Growth option), the benchmark's TRI and the category average, 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.

HDFC Banking & Financial Services Fund Asset Allocation

Asset allocation as on 30-09-2026

What the fund holds

99.4%Equity

Asset	Fund	Category
Equity	99.4%	94.5%
Cash and others	0.6%	4.0%

Market cap of stocks

Market cap	Fund	Category
Large Cap	68.8%	45.7%
Mid Cap	11.1%	19.6%
Small Cap	17.4%	24.1%
Not on AMFI's list	2.1%	2.3%

Share of the whole fund. Category: the average of the Thematic funds that hold stocks. Groups follow AMFI's latest list, as SEBI defines them: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.

HDFC Banking & Financial Services Fund Sector Allocation

Sector allocation of the fund's stocks as on 30-09-2026

Largest sectors

Banks58.3%
Finance22.8%
Insurance9.2%
Capital Markets8.4%
Financial Technology (Fintech)0.8%

Sector changes

Sector	July 2026	August 2026	September 2026	Change
Banks	58.0%	57.9%	58.3%	+0.2%
Finance	25.8%	23.9%	22.8%	−3.0%
Insurance	7.4%	9.1%	9.2%	+1.8%
Capital Markets	6.7%	7.3%	8.4%	+1.7%
Financial Technology (Fintech)	1.1%	1.6%	0.8%	−0.3%

Each sector's share of the fund at the end of each month. The five largest sectors of September 2026. Change: from July 2026 to September 2026, in % of the fund.

HDFC Banking & Financial Services Fund Portfolio Holdings

As on 30-09-2026 · 37 holdings · from the fund house's monthly portfolio

Holdings	Sector	Weight%	1M change
ICICI Bank Ltd.	Banks	13.85%	0.0%
HDFC Bank Ltd.	Banks	12.89%	0.0%
Kotak Mahindra Bank Limited	Banks	8.61%	0.0%
Axis Bank Ltd.	Banks	7.76%	0.0%
State Bank of India	Banks	6.07%	0.0%
Shriram Finance Ltd.	Finance	4.22%	0.0%
Bajaj Finance Ltd.	Finance	3.96%	0.0%
SBI Life Insurance Company Ltd.	Insurance	3.72%	0.0%
Five-Star Business Finance Limited	Finance	2.67%	0.0%
Au Small Finance Bank Ltd.	Banks	2.40%	0.0%
Karur Vysya Bank Ltd.	Banks	1.91%	0.0%
ICICI Lombard General Insurance Co	Insurance	1.89%	0.0%
Home First Finance Company India Ltd	Finance	1.71%	−0.6%
Angel One Ltd.	Capital Markets	1.67%	0.0%
Billionbrains Garage Ventures Limited (Groww)	Capital Markets	1.66%	0.0%
Equitas Small Finance Bank Ltd	Banks	1.63%	0.0%
Life Insurance Corporation of India	Insurance	1.61%	0.0%
PNB Housing Finance Ltd.	Finance	1.61%	0.0%
Max Financial Services Ltd.	Insurance	1.40%	0.0%
CanFin Homes Ltd.	Finance	1.40%	0.0%
Bandhan Bank Ltd.	Banks	1.37%	0.0%
Poonawalla Fincorp Ltd	Finance	1.35%	0.0%
Tata Capital Ltd.	Finance	1.26%	0.0%
Mahindra & Mahindra Financial Services Ltd.	Finance	1.17%	0.0%
SBI Funds Management Limited	Capital Markets	1.16%	0.0%
ICICI PRUDENTIAL ASSET MANAGEMENT COMPANY LIMITED	Capital Markets	1.16%	0.0%
Fusion Finance Limited	Finance	1.12%	0.0%
360 ONE WAM LIMITED	Capital Markets	1.07%	0.0%
Indusind Bank Ltd.	Banks	1.02%	0.0%
OnEMI Technology Solutions Limited	Finance	1.01%	0.0%
National Stock Exchange of India Limited	Capital Markets	0.99%	New
Indian Bank	Banks	0.76%	0.0%
PB Fintech Limited	Financial Technology (Fintech)	0.76%	0.0%
Creditaccess Grameen Limited	Finance	0.73%	0.0%
Bombay Stock Exchange Limited (BSE)	Capital Markets	0.70%	+33.3%
HDFC Life Insurance Company Limited	Insurance	0.59%	0.0%
Repco Home Finance Ltd.	Finance	0.55%	0.0%

HDFC Banking & Financial Services Fund Stocks Bought and Sold

All changes are between August 2026 and September 2026

Stocks bought and sold in September 2026

Home First Finance Company India Ltd	Reduced	−0.6%	1.71%
National Stock Exchange of India Limited	New	New	0.99%
Bombay Stock Exchange Limited (BSE)	Added	+33.3%	0.70%
SBFC Finance Limited	Sold out	−100%	was 0.68%
One 97 Communications Limited	Sold out	−100%	was 0.30%

A change is counted by the number of shares the fund holds, not by price. A stock can become a smaller part of the fund in a month when the fund bought more of it, if its price fell. Debt papers are left out.

What HDFC Banking & Financial Services Fund bought and sold

HDFC Banking & Financial Services Fund Portfolio Overlap

Funds with the most similar portfolios, across every fund house and category

Fund	Overlap	Holdings in common
Aditya Birla Sun Life Banking and Financial Services FundThematic · Aditya Birla Sun Life	68.6%	23	Compare
Tata Banking & Financial Services FundThematic · Tata	68.1%	22	Compare
UTI - Banking and Financial Services FundThematic · UTI	67.3%	20	Compare
Edelweiss Financial Services FundThematic · Edelweiss	65.7%	21	Compare
ICICI Prudential Banking & Financial Services FundThematic · ICICI Prudential	64.7%	21	Compare
Mirae Asset Nifty Financial Services ETFETF · Mirae Asset	63.6%	12	Compare
Tata NIFTY Financial Services Index FundIndex · Tata	63.6%	12	Compare
MahindraManulife Banking & Financial Services FundSectoral · Mahindra Manulife	63.3%	19	Compare

Overlap: for each holding both funds own, the smaller of its two weights, added up. 40% means 40% of each fund's money sits in positions the other also holds. From each fund's latest monthly portfolio, matched by ISIN. Cash and hedged positions are left out. Funds that overlap under 10% are not listed. A high overlap does not make two funds the same: their costs, lock-in and category can differ.

HDFC Banking & Financial Services Fund Overview

Fund facts from the scheme summary document, as on 16-10-2026

Expense ratio (Direct): 0.96%
Expense ratio (Regular): 1.99%
Category: Thematic
Risk: Very High
Benchmark: Nifty Financial Services TRI
Launch date: 01-07-2021
Minimum investment: ₹100
Minimum additional investment: ₹100
AUM: ₹4,425.37 Cr (30-09-2026)
Lock in: None
Scheme code (Direct): 148986
ISIN (Direct): INF179KC1BG0
Scheme code (Regular): 148987
ISIN (Regular): INF179KC1BJ4
NAV history: From 01-07-2021, 5.3 years

Exit load: In respect of each purchase/switch in of units- an Exit load of 1% is payable if units are redeemed/switched out within 30 days from the date of allotment. No Exit Load is payable if units are redeemed/switched-out after 30 days from the date of allotment.

Tax on HDFC Banking & Financial Services Fund returns

HDFC Banking & Financial Services Fund is taxed as an equity fund: 65% or more of it is in Indian stocks.
Units sold within 1 year: the gain is taxed at 20%.
Units held longer: gains above ₹1.25 lakh in a financial year, across all your equity funds and shares, are taxed at 12.5%.
IDCW (dividend) payouts are added to your income and taxed at your slab rate.
A stamp duty of 0.005% is deducted when you invest.

Rules in force from 23-07-2024 (Finance Act 2024). Tax depends on your own income; this is general information, not tax advice.

All plans and options

Plan	Option	NAV	As on
direct	Growth	₹17.855	30-10-2026
direct	IDCW	₹15.78	30-10-2026
regular	Growth	₹16.593	30-10-2026
regular	IDCW	₹14.566	30-10-2026

About HDFC Banking & Financial Services Fund

HDFC Banking & Financial Services Fund is a mutual fund from HDFC Mutual Fund. Its category is Thematic. It was launched on 01-07-2021. Its benchmark is Nifty Financial Services TRI. At the end of September 2026 it held 37 securities.

Fund Manager

Anand Laddha
Fund manager of HDFC Banking & Financial Services Fund, since 01-07-2021
Gopal Agrawal
Fund manager of HDFC Banking & Financial Services Fund, since 01-09-2026
Bhagyesh Kagalkar
Fund manager of HDFC Banking & Financial Services Fund, since 26-08-2026

See all funds of HDFC Mutual Fund

AUM change

September 2026: ₹4,425.37 Cr; −5.60% from August 2026
August 2026: ₹4,687.81 Cr; +1.24% from July 2026
July 2026: ₹4,630.40 Cr; +1.05% from June 2026

AUM moves with money invested or taken out, and with the value of what the fund holds.

Compare HDFC Banking & Financial Services Fund with Other Funds

Returns, risk, costs and the stocks they share, side by side

Compare with any other fund

Frequently Asked Questions for HDFC Banking & Financial Services Fund

What is the current NAV of HDFC Banking & Financial Services Fund?

The Direct plan NAV is ₹17.855. The Regular plan NAV is ₹16.593, as on 30-10-2026.

What are the returns of HDFC Banking & Financial Services Fund?

The Direct plan returned −5.10% in 1 year, +11.03% a year over 3 years, +10.01% a year over 5 years. The Regular plan returned −6.11% in 1 year, +9.76% a year over 3 years, +8.57% a year over 5 years. These figures are as on 30-10-2026.

What is the expense ratio of HDFC Banking & Financial Services Fund?

The Direct plan charges 0.96% a year. The Regular plan charges 1.99% a year. This is the figure the fund house reported to AMFI, in force from 19-10-2026.

What is the AUM of HDFC Banking & Financial Services Fund?

HDFC Banking & Financial Services Fund managed ₹4,425.37 Cr on 30-09-2026, as its fund house reported in its monthly portfolio.

What are the top holdings of HDFC Banking & Financial Services Fund?

At the end of September 2026 the largest holdings were ICICIBANK (13.85%), HDFCBANK (12.89%), KOTAKBANK (8.61%), AXISBANK (7.76%), SBIN (6.07%). The fund held 37 securities in all.

What did HDFC Banking & Financial Services Fund buy and sell in September 2026?

It bought 1 new stock: National Stock Exchange of India Limited. It sold out of 2: SBFC Finance Limited, One 97 Communications Limited. It added shares in 1. It reduced 1.

How do I invest in HDFC Banking & Financial Services Fund?

Through HDFC Mutual Fund's website or app, a mutual fund distributor, or an investment platform. Choose the Direct plan to pay no distributor commission, or the Regular plan to invest through a distributor. The first investment is at least ₹100. You can invest once or through a monthly SIP.

Who is the fund manager of HDFC Banking & Financial Services Fund?

Anand Laddha (since 01-07-2021), Gopal Agrawal (since 01-09-2026), Bhagyesh Kagalkar (since 26-08-2026).

Sources: NAV and expense ratio from AMFI. Holdings from the fund house's monthly portfolio statement. Fund facts from its scheme summary document, as on 16-10-2026.

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.