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    HDFC Medium Term Fund

    Medium DurationDirect and Regular plans, Growth and IDCW options

    Data as on 30-10-2026

    HDFC Medium Term Fund is a Medium Duration fund run by HDFC Mutual Fund. On 30-09-2026, it managed ₹3,499 Cr of investors' money. In the 3 years to 30-10-2026, its Direct plan returned 7.7% a year and its Regular plan returned 7.0% a year. Its benchmark, NIFTY Medium Duration Debt Index A-III, returned 6.4% a year over the same 3 years.

    NAV (Direct plan)
    ₹65.92
    ▲ 0.06%30-10-2026
    NAV (Regular plan)
    ₹60.23
    ▲ 0.06%30-10-2026
    Expense ratio
    0.70%Direct1.30%Regular
    Riskometer
    Moderately High
    Set by the fund house
    3 year return
    7.7%Direct7.0%Regular

    HDFC Medium Term Fund NAV Today

    NAV on 30-10-2026: Direct Plan Growth ₹65.92 (up 0.06% that day); Regular Plan Growth ₹60.23 (up 0.06% that day).

    HDFC Medium Term Fund Returns vs NIFTY Medium Duration Debt Index A-III

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

    Trailing returns
    Period1M3M6M1Y3Y5Y10Y
    This fund (Direct)−0.13%+0.40%+3.01%+5.43%+7.71%+6.68%+7.36%
    This fund (Regular)−0.18%+0.24%+2.70%+4.77%+7.01%+5.96%+6.58%
    NIFTY Medium Duration Debt Index A-III−0.45%−0.64%+1.96%+2.80%+6.40%+5.32%--
    Medium Duration average−0.34%−0.09%+2.51%+4.72%+7.66%+6.88%+6.78%
    Best in Medium Duration+0.04%+0.68%+3.33%+7.48%+10.39%+12.54%+8.95%
    Worst in Medium Duration−0.61%−1.06%+1.34%+2.45%+5.74%+4.74%+3.51%
    Rank in Medium Duration2/132/133/133/136/136/125/11

    Category rows compare the Direct plans of 13 Medium Duration funds. Rank 1 is the highest return. The benchmark row is as on 30-09-2026, as NSE published it.

    HDFC Medium Term Fund Year-wise Returns

    Return of each calendar year
    YearDirectRegular
    2026to date+4.40%+3.86%
    2025+8.38%+7.68%
    2024+8.79%+8.05%
    2023+7.50%+6.75%
    2022+3.60%+2.89%
    2021+5.85%+5.03%

    HDFC Medium Term 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 2,620 periods, one for each trading day from 01-01-2016 to 30-10-2026.

    0%2%4%6%8%10%12%
    Nov 2013
    to
    Nov 2016
    Sept 2015
    to
    Sept 2018
    Jul 2017
    to
    Jul 2020
    May 2019
    to
    May 2022
    Mar 2021
    to
    Mar 2024
    Dec 2022
    to
    Dec 2025
    HDFC Medium Term Fund (Direct)Category average, 13 Medium Duration funds

    Every holding period at a glance

    PeriodPeriodsMedianLowestHighestWith a lossCategory medianBeat category
    1 year3,0978.3%2.1%13.3%0%7.7%43%
    2 years2,8618.4%4.6%11.7%0%7.8%32%
    3 years2,6208.1%5.5%11.3%0%7.5%34%
    5 years2,1377.7%6.6%9.5%0%7.4%59%
    7 years1,6557.9%6.9%9.6%0%7.4%100%
    10 years9268.1%7.3%8.5%0%7.8%100%

    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 category" counts the periods in which the fund did better than the average of the 13 Medium Duration funds (Direct plans, each weighted the same) over the same days. Past returns do not promise future returns.

    HDFC Medium Term Fund Risk

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

    Risk and return

    MeasureHDFC Medium Term Fund (Direct)This fundCategory average
    Return (CAGR)+7.71%+7.66%
    Standard deviation1.16%1.18%
    Sharpe ratio1.451.39
    Sortino ratio2.142.08
    Maximum drawdown−0.61% (02-04-2026)−0.87% (23-10-2026)

    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.

    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.

    −6%−5%−4%−3%−2%−1%0%
    2014201620182020202220242026
    HDFC Medium Term Fund (Direct)Category average, 13 Medium Duration funds
    Worst fallHigh before itBottomBack at the highTime to climb backBelow its high today
    HDFC Medium Term Fund (Direct)−3.5%19-06-201319-08-201307-10-201349 days−0.29%
    Category average−5.0%06-06-201319-08-201305-12-20134 months−0.70%

    From the Direct plan's daily NAV since 01-01-2013, adjusted for unit splits, and the average of the 13 Medium Duration funds (Direct plans, each weighted the same) over the same days. "Time to climb back" runs from the bottom to the first day back at the old high.

    HDFC Medium Term Fund vs Other Medium Duration Funds

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

    Fund nameRankAUM (Cr)Exp. ratio1Y return3Y return3Y alpha3Y beta3Y Sharpe3Y Sortino
    Aditya Birla Sun Life Medium Term Fund1/133,3700.83%+7.48%+10.39%----1.905.02Compare
    Kotak Medium Term Fund2/131,9120.67%+5.09%+8.61%----1.802.67Compare
    Nippon India Medium Term Fund3/131460.50%+4.94%+8.23%----1.272.89Compare
    Axis Medium Term Fund4/131,9720.71%+5.40%+8.16%----1.812.72Compare
    ICICI Prudential Medium Term Fund4/135,3310.73%+5.75%+8.16%----1.742.56Compare
    HDFC Medium Term Fund6/133,4990.70%+5.43%+7.71%----1.452.14

    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 Medium Term Fund Expense Ratio and Costs

    What each plan charges a year, in force from 01-09-2026

    PlanBase expense ratioBrokerageTransaction costsLevies and GSTTotal expense ratioMedium Duration medianCost rank (1 = cheapest)
    Direct0.59%0.00%0.00%0.11%0.70%0.70%7/13
    Regular1.11%0.00%0.00%0.19%1.30%1.32%6/13

    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 Medium Duration 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 lastRegularDirectDirect earned more by₹1 lakh became (Regular)₹1 lakh became (Direct)
    1 year4.77%5.43%0.66%₹1,04,770₹1,05,430
    3 years7.01%7.71%0.70% a year₹1,22,539₹1,24,959
    5 years5.96%6.68%0.72% a year₹1,33,570₹1,38,170
    10 years6.58%7.36%0.78% a year₹1,89,129₹2,03,435

    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 Medium Term 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

    Step up each year
    PeriodFor

    ₹10,000 on the first trading day of every month, from 01-01-2013 to 30-10-2026: 166 instalments, ₹16,60,000 in all.

    InvestmentInvestedValue nowGainReturn a year
    Direct planHDFC Medium Term Fund (Direct) ₹16,60,000 ₹28,84,886 ₹12,24,886 7.6%
    Regular planHDFC Medium Term Fund (Regular) ₹16,60,000 ₹27,27,243 ₹10,67,243 6.9%
    Category averageCategory average, 13 Medium Duration funds ₹16,60,000 ₹28,40,645 ₹11,80,645 7.4%
    ₹0₹10.0 L₹20.0 L₹30.0 L
    2014201620182020202220242026
    Direct planHDFC Medium Term Fund (Direct)Regular planHDFC Medium Term Fund (Regular)Category averageCategory average, 13 Medium Duration fundsAmount invested

    From each plan's published NAV (Growth option) 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 Medium Term Fund Asset Allocation

    Asset allocation as on 30-09-2026

    What the fund holds

    93.1%Debt

    AssetFundCategory
    Debt93.1%82.7%
    Cash and others6.9%17.3%

    Credit rating

    Bonds and money market papers by credit rating, % of the fund. Category: the average of 13 Medium Duration funds.

    RatingFundCategory
    Sovereign9.1%23.6%
    AAA and A1+31.2%26.1%
    AA50.0%30.9%
    A and below2.8%2.1%

    HDFC Medium Term Fund Portfolio Holdings

    As on 30-09-2026 · 65 holdings · from the fund house's monthly portfolio

    HoldingsSector / RatingWeight%Holdings trend1M change
    Siddhivinayak Securitisation Trust (Originator - Sikka Ports & Terminals Limited)CRISIL - AAA(SO)4.78%
    GMR Airports Limited · BondCRISIL - AA-4.55%
    National Bank for Agri & Rural Dev. · BondCRISIL - AAA3.55%
    182 Days TBILL MAT 180327 · Treasury billSovereign3.48%
    Jubilant Beverages Limited · BondCRISIL - AA3.43%
    Small Industries Development Bank · BondCRISIL - AAA2.86%
    SK FINANCE LIMITED · BondICRA - AA-2.86%
    Kalpataru Projects International Ltd · BondIND - AA+2.85%
    SBFC Finance Limited · BondIND - AA-2.84%
    Kosamattam Finance Limited · BondIND - A2.80%

    HDFC Medium Term Fund Portfolio Overlap

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

    FundOverlapHoldings in common
    HDFC Credit Risk FundCredit Risk · HDFC45.5%40Compare
    HDFC Floating Interest Rates FundFloater · HDFC18.6%23Compare
    HDFC Short Term FundShort Duration · HDFC14.2%11Compare
    Axis Medium Term FundMedium Duration · Axis14.2%14Compare
    HSBC Short Term FundShort Duration · HSBC13.6%9Compare
    Axis Credit Risk FundCredit Risk · Axis13.4%11Compare
    Nippon India Short Term FundShort Duration · Nippon India13.3%9Compare
    AXIS Corporate Bond FundCorporate Bond · Axis13.2%10Compare

    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 Medium Term Fund Overview

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

    Expense ratio (Direct)
    0.70%
    Expense ratio (Regular)
    1.30%
    Category
    Medium Duration
    Risk
    Moderately High
    Benchmark
    NIFTY Medium Duration Debt Index A-III
    Launch date
    06-02-2002
    Minimum investment
    ₹100
    Minimum additional investment
    ₹100
    AUM
    ₹3,498.90 Cr (30-09-2026)
    Lock in
    None
    Scheme code (Direct)
    119081
    ISIN (Direct)
    INF179K01WI9
    Scheme code (Regular)
    101989
    ISIN (Regular)
    INF179K01913
    NAV history
    From 01-01-2013, 13.8 years
    Exit load
    NIL

    Tax on HDFC Medium Term Fund returns

    • HDFC Medium Term Fund is taxed as a debt fund: 65% or more of it is in bonds and money market papers.
    • For units bought on or after 01-04-2023, the gain is added to your income and taxed at your slab rate, however long you hold the units.
    • 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

    PlanOptionNAVAs on
    directGrowth₹65.917730-10-2026
    directFortnightly IDCW₹10.074930-10-2026
    directIDCW₹22.025730-10-2026
    regularGrowth₹60.227230-10-2026
    regularFornightly IDCW₹10.066530-10-2026
    regularIDCW₹20.324230-10-2026

    About HDFC Medium Term Fund

    HDFC Medium Term Fund is a mutual fund from HDFC Mutual Fund. Its category is Medium Duration. It was launched on 06-02-2002. Its benchmark is NIFTY Medium Duration Debt Index A-III. At the end of September 2026 it held 65 securities.

    Fund Manager

    • Bhavyesh Divecha

      Fund manager of HDFC Medium Term Fund

    • Praveen Jain

      Fund manager of HDFC Medium Term Fund

    • Anil Bamboli

      Fund manager of HDFC Medium Term Fund

    • Gopal Agrawal

      Fund manager of HDFC Medium Term Fund

    See all funds of HDFC Mutual Fund

    AUM change

    September 2026
    ₹3,498.90 Cr
    −2.79% from August 2026
    August 2026
    ₹3,599.40 Cr
    −0.40% from July 2026
    July 2026
    ₹3,613.91 Cr
    −0.74% from June 2026

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

    Compare HDFC Medium Term Fund with Other Funds

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

    Frequently Asked Questions for HDFC Medium Term Fund

    What is the current NAV of HDFC Medium Term Fund?

    The Direct plan NAV is ₹65.9177. The Regular plan NAV is ₹60.2272, as on 30-10-2026.

    What are the returns of HDFC Medium Term Fund?

    The Direct plan returned +5.43% in 1 year, +7.71% a year over 3 years, +6.68% a year over 5 years. The Regular plan returned +4.77% in 1 year, +7.01% a year over 3 years, +5.96% a year over 5 years. These figures are as on 30-10-2026.

    What is the expense ratio of HDFC Medium Term Fund?

    The Direct plan charges 0.70% a year. The Regular plan charges 1.30% a year. This is the figure the fund house reported to AMFI, in force from 01-09-2026.

    What is the AUM of HDFC Medium Term Fund?

    HDFC Medium Term Fund managed ₹3,498.90 Cr on 30-09-2026, as its fund house reported in its monthly portfolio.

    What are the top holdings of HDFC Medium Term Fund?

    At the end of September 2026 the largest holdings were Siddhivinayak Securitisation Trust (Originator - Sikka Ports & Terminals Limited) (4.78%), GMR Airports Limited (4.55%), National Bank for Agri & Rural Dev. (3.55%), 182 Days TBILL MAT 180327 (3.48%), Jubilant Beverages Limited (3.43%). The fund held 65 securities in all.

    How do I invest in HDFC Medium Term 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 Medium Term Fund?

    Bhavyesh Divecha, Praveen Jain, Anil Bamboli, Gopal Agrawal.

    What is the exit load of HDFC Medium Term Fund?

    NIL

    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.

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