HSBC Gilt Fund

GiltDirect and Regular plans, Growth and IDCW options

Data as on 30-10-2026

HSBC Gilt Fund is a Gilt fund run by HSBC Mutual Fund. On 30-09-2026, it managed ₹152 Cr of investors' money. In the 3 years to 30-10-2026, its Direct plan returned 5.8% a year and its Regular plan returned 4.6% a year. Its benchmark, NIFTY All Duration G-Sec Index, returned 6.3% a year over the same 3 years.

NAV (Direct plan): ₹76.84; ▼ 0.07%30-10-2026
NAV (Regular plan): ₹66.04; ▼ 0.07%30-10-2026
Expense ratio: 0.50%Direct1.60%Regular; 0.50%; A year
Riskometer: Moderate; Set by the fund house
3 year return: 5.8%Direct4.6%Regular; 5.8%; A year

HSBC Gilt Fund NAV Today

NAV on 30-10-2026: Direct Plan Growth ₹76.84 (down 0.07% that day); Regular Plan Growth ₹66.04 (down 0.07% that day).

This fund (Direct plan)

₹76.841

HSBC Gilt Fund Returns vs NIFTY All Duration G-Sec Index

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)	−0.42%	−0.98%	+1.77%	+1.57%	+5.82%	--	--
This fund (Regular)	−0.51%	−1.26%	+1.21%	+0.46%	+4.59%	--	--
NIFTY All Duration G-Sec Index	−1.12%	−1.44%	+2.72%	+2.10%	+6.28%	+5.48%	--
Gilt average	−0.69%	−1.34%	+1.62%	+2.12%	+6.19%	--	--
Best in Gilt	+0.27%	+0.76%	+4.80%	+7.50%	+8.37%	--	--
Worst in Gilt	−1.33%	−2.45%	+0.15%	−0.46%	+4.58%	--	--
Rank in Gilt	5/28	10/28	11/28	18/28	19/26	--	--

Category rows compare the Direct plans of 28 Gilt funds. Rank 1 is the highest return. The benchmark row is as on 30-09-2026, as NSE published it.

HSBC Gilt Fund Year-wise Returns

Return of each calendar year
Year	Direct	Regular
2026to date	+1.08%	+0.16%
2025	+4.52%	+3.32%
2024	+9.53%	+8.19%
2023	+6.91%	+5.62%

HSBC Gilt 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 222 periods, one for each trading day from 28-11-2025 to 30-10-2026.

0%2%4%6%8%

Dec 2022
to
Dec 2025Feb 2023
to
Feb 2026Apr 2023
to
Apr 2026Jun 2023
to
Jun 2026Aug 2023
to
Aug 2026Oct 2023
to
Oct 2026

HSBC Gilt Fund (Direct)Category average, 28 Gilt funds

Every holding period at a glance

Period	Periods	Median	Lowest	Highest	With a loss	Category median	Beat category
1 year	708	6.9%	−2.5%	12.7%	6%	7.5%	20%
2 years	466	7.5%	3.0%	9.6%	0%	7.8%	0%
3 years	222	6.3%	5.2%	7.0%	0%	6.8%	0%

Period	Periods	Median	Lowest	Highest	With a loss	Category median	Beat category
1 year	36	6.4%	−3.7%	13.0%	8%	7.1%	25%
2 years	24	5.6%	1.2%	11.1%	0%	6.1%	4%

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 28 Gilt funds (Direct plans, each weighted the same) over the same days. Past returns do not promise future returns.

HSBC Gilt Fund Risk

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

Risk and return

Measure	HSBC Gilt Fund (Direct)This fund	Category average
Return (CAGR)	+1.57%	+2.12%
Standard deviation	3.26%	3.18%
Sharpe ratio	-1.13	-0.98
Sortino ratio	-1.52	-1.35
Maximum drawdown	−2.7% (02-04-2026)	−2.6% (02-04-2026)

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.

Measure	HSBC Gilt Fund (Direct)This fund	Category average
Return (CAGR)	+5.82%	+6.18%
Standard deviation	3.02%	2.80%
Sharpe ratio	-0.07	0.06
Sortino ratio	-0.09	0.08
Maximum drawdown	−3.6% (02-04-2026)	−3.1% (26-08-2025)

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.

Measure	HSBC Gilt Fund (Direct)This fund	Category average
Return (CAGR)	+5.64%	+6.14%
Standard deviation	2.80%	2.60%
Sharpe ratio	-0.19	-0.02
Sortino ratio	-0.26	-0.02
Maximum drawdown	−3.6% (02-04-2026)	−3.1% (26-08-2025)

From daily NAVs, 28-11-2022 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.

−4%−3%−2%−1%0%

2023202420252026

HSBC Gilt Fund (Direct)Category average, 28 Gilt funds

	Worst fall	High before it	Bottom	Back at the high	Time to climb back	Below its high today
HSBC Gilt Fund (Direct)	−3.6%	28-05-2025	02-04-2026	24-06-2026	3 months	−2.0%
Category average	−3.1%	28-05-2025	26-08-2025	27-02-2026	6 months	−2.3%

From the Direct plan's daily NAV since 28-11-2022, adjusted for unit splits, and the average of the 28 Gilt 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.

HSBC Gilt Fund vs Other Gilt Funds

The five Gilt 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
Bandhan Gilt Fund	1/26	1,686	0.57%	+7.50%	+8.37%	--	--	0.69	1.00	Compare
Bandhan 10 year Constant Maturity Gilt Fund	2/26	285	0.26%	+2.61%	+7.25%	--	--	0.44	0.64	Compare
Axis Gilt Fund	3/26	336	0.46%	+3.08%	+6.94%	--	--	0.31	0.45	Compare
ICICI Prudential 10 year Constant Maturity Gilt Fund	4/26	1,935	0.29%	+2.06%	+6.88%	--	--	0.32	0.45	Compare
UTI 10 year Constant Maturity Gilt Fund	5/26	105	0.33%	+1.45%	+6.55%	--	--	0.19	0.27	Compare
HSBC Gilt Fund	19/26	152	0.50%	+1.57%	+5.82%	--	--	-0.07	-0.09

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.

HSBC Gilt Fund Expense Ratio and Costs

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

Plan	Base expense ratio	Brokerage	Transaction costs	Levies and GST	Total expense ratio	Gilt median	Cost rank (1 = cheapest)
Direct	0.41%	0.01%	0.01%	0.07%	0.50%	0.48%	17/28
Regular	1.34%	0.01%	0.01%	0.24%	1.60%	1.15%	27/28

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 Gilt 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	0.46%	1.57%	1.11%	₹1,00,460	₹1,01,570
3 years	4.59%	5.82%	1.23% a year	₹1,14,412	₹1,18,496

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.

HSBC Gilt 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 28-11-2022 to 30-10-2026: 48 instalments, ₹4,80,000 in all.

Investment	Invested	Value now	Gain	Return a year
Direct planHSBC Gilt Fund (Direct)	₹4,80,000	₹5,24,713	₹44,713	4.4%
Regular planHSBC Gilt Fund (Regular)	₹4,80,000	₹5,12,108	₹32,108	3.2%
Category averageCategory average, 28 Gilt funds	₹4,80,000	₹5,29,795	₹49,795	4.9%

₹0₹2.0 L₹4.0 L₹6.0 L

2023202420252026

Direct planHSBC Gilt Fund (Direct)Regular planHSBC Gilt Fund (Regular)Category averageCategory average, 28 Gilt 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.

HSBC Gilt Fund Asset Allocation

Asset allocation as on 30-09-2026

What the fund holds

81.3%Debt

Asset	Fund	Category
Debt	81.3%	87.2%
Cash and others	18.7%	12.8%

Credit rating

Bonds and money market papers by credit rating, % of the fund. Category: the average of 28 Gilt funds.

Rating	Fund	Category
Sovereign	81.3%	86.6%

HSBC Gilt Fund Portfolio Holdings

As on 30-09-2026 · 9 holdings · from the fund house's monthly portfolio

Holdings	Rating	Weight%
364 Days Treasury Bill 10-Dec-2026 · Government security	SOVEREIGN	32.50%
6.9% GOI 15-Apr-2065 · Government security	SOVEREIGN	15.86%
7.24% GOI 18-Aug-2055 · Government security	SOVEREIGN	13.30%
7.72% Maharashtra SDL - 23-Mar-2032 · State government security	SOVEREIGN	6.62%
6.8% Tamil Nadu SDL - 02-Jul-2035 · State government security	SOVEREIGN	4.70%
7.71% GOI 18-May-2066 · Government security	SOVEREIGN	4.39%
7.16% Karnataka SDL - 08-Jan-2030 · State government security	SOVEREIGN	3.32%
7.59% Gujarat SDL - 27-Aug-2041 · State government security	SOVEREIGN	0.50%
7.09% GOI 25-Nov-2074 · Government security	SOVEREIGN	0.12%

HSBC Gilt Fund Portfolio Overlap

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

Fund	Overlap	Holdings in common
Union Gilt FundGilt · Union	33.6%	3	Compare
UTI - Gilt FundGilt · UTI	29.4%	3	Compare
UTI Long Term FundLong Duration · UTI	29.2%	2	Compare
Union Dynamic Term FundDynamic Bond · Union	29.2%	2	Compare
Kotak Gilt FundGilt · Kotak Mahindra	29.0%	3	Compare
Mirae Asset Long Term FundLong Duration · Mirae Asset	25.8%	2	Compare
Mirae Asset Dynamic Term FundDynamic Bond · Mirae Asset	24.2%	3	Compare
UTI Dynamic Term FundDynamic Bond · UTI	23.8%	3	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.

HSBC Gilt Fund Overview

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

Expense ratio (Direct): 0.50%
Expense ratio (Regular): 1.60%
Category: Gilt
Risk: Moderate
Benchmark: Nifty All Duration G-Sec Index
Launch date: 29-03-2000
Minimum investment: ₹5,000
Minimum additional investment: ₹1,000
AUM: ₹152.28 Cr (30-09-2026)
Lock in: None
Scheme code (Direct): 151014
ISIN (Direct): INF917K01FI7
Scheme code (Regular): 151013
ISIN (Regular): INF917K01BP1
NAV history: From 28-11-2022, 3.9 years

Exit load: NIL

Tax on HSBC Gilt Fund returns

HSBC Gilt 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

Plan	Option	NAV	As on
direct	Growth	₹76.841	30-10-2026
direct	Quarterly IDCW	₹11.6341	30-10-2026
regular	Growth	₹66.0363	30-10-2026
regular	Quarterly IDCW	₹9.9254	30-10-2026

About HSBC Gilt Fund

HSBC Gilt Fund is a mutual fund from HSBC Mutual Fund. Its category is Gilt. It was launched on 29-03-2000. Its benchmark is Nifty All Duration G-Sec Index. At the end of September 2026 it held 9 securities.

Fund Manager

Shriram Ramanathan
Fund manager of HSBC Gilt Fund, since 03-04-2017
Mohd Asif Rizwi
Fund manager of HSBC Gilt Fund, since 01-05-2024

See all funds of HSBC Mutual Fund

AUM change

September 2026: ₹152.28 Cr; −2.08% from August 2026
August 2026: ₹155.52 Cr; −2.56% from July 2026
July 2026: ₹159.61 Cr; −5.12% from June 2026

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

Compare HSBC Gilt Fund with Other Funds

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

HSBC Gilt vs Bandhan GiltGilt
HSBC Gilt vs Bandhan 10 year Constant Maturity GiltGilt
HSBC Gilt vs Axis GiltGilt
HSBC Gilt vs ICICI Prudential 10 year Constant Maturity GiltGilt
HSBC Gilt vs UTI 10 year Constant Maturity GiltGilt
HSBC Gilt vs Union Gilt33.6% overlap
HSBC Gilt vs UTI - Gilt29.4% overlap
HSBC Gilt vs UTI Long Term29.2% overlap

Compare with any other fund

Frequently Asked Questions for HSBC Gilt Fund

What is the current NAV of HSBC Gilt Fund?

The Direct plan NAV is ₹76.841. The Regular plan NAV is ₹66.0363, as on 30-10-2026.

What are the returns of HSBC Gilt Fund?

The Direct plan returned +1.57% in 1 year, +5.82% a year over 3 years. The Regular plan returned +0.46% in 1 year, +4.59% a year over 3 years. These figures are as on 30-10-2026.

What is the expense ratio of HSBC Gilt Fund?

The Direct plan charges 0.50% a year. The Regular plan charges 1.60% a year. This is the figure the fund house reported to AMFI, in force from 01-09-2026.

What is the AUM of HSBC Gilt Fund?

HSBC Gilt Fund managed ₹152.28 Cr on 30-09-2026, as its fund house reported in its monthly portfolio.

What are the top holdings of HSBC Gilt Fund?

At the end of September 2026 the largest holdings were 364 Days Treasury Bill 10-Dec-2026 (32.50%), 6.9% GOI 15-Apr-2065 (15.86%), 7.24% GOI 18-Aug-2055 (13.30%), 7.72% Maharashtra SDL - 23-Mar-2032 (6.62%), 6.8% Tamil Nadu SDL - 02-Jul-2035 (4.70%). The fund held 9 securities in all.

How do I invest in HSBC Gilt Fund?

Through HSBC 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 ₹5,000. You can invest once or through a monthly SIP.

Who is the fund manager of HSBC Gilt Fund?

Shriram Ramanathan (since 03-04-2017), Mohd Asif Rizwi (since 01-05-2024).

What is the exit load of HSBC Gilt 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.