EquityFlexi Cap FundRegularIDCWVery High

HDFC Flexi Cap Fund

Q: What is the NAV of HDFC Flexi Cap Fund?

As of 05 Oct 2026, the NAV of HDFC Flexi Cap Fund is ₹70.67 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has HDFC Flexi Cap Fund delivered?

HDFC Flexi Cap Fund has returned -11.96% over 1 year, +3.52% per year over 3 years, +3.72% per year over 5 years and +2.93% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.

Q: What is the expense ratio of HDFC Flexi Cap Fund?

HDFC Flexi Cap Fund charges an expense ratio of 1.37% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

Q: What are the top holdings of HDFC Flexi Cap Fund?

HDFC Flexi Cap Fund's largest holdings are ICICI Bank Ltd. (9.2%), Axis Bank Ltd. (6.2%), HDFC Bank Ltd. (5.7%), State Bank of India (4.2%) and Eternal Limited (3.4%). Holdings are disclosed monthly and change over time.

Q: How risky is HDFC Flexi Cap Fund?

HDFC Flexi Cap Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 15.4% and its worst peak-to-trough fall in our sample was -66.3%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Q: What does the Sharpe ratio of -0.19 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. HDFC Flexi Cap Fund's -0.19 means it has not compensated investors for its volatility over the window. Higher is better.

Q: What is the benchmark of HDFC Flexi Cap Fund?

HDFC Flexi Cap Fund is benchmarked against the NIFTY 500 Index (Total Returns Index). Its alpha and beta on this page are measured against that index.

Q: Who manages HDFC Flexi Cap Fund?

HDFC Flexi Cap Fund is managed by Amit Ganatra, Gopal Agrawal and Bhagyesh Kagalkar at HDFC.

Q: How is HDFC Flexi Cap Fund taxed?

HDFC Flexi Cap Fund is an equity-oriented fund, so its capital gains get concessional rates: short-term gains (units held under 1 year) are taxed at 20%, and long-term gains (held 1 year or more) at 12.5% above a ₹1.25 lakh per-year exemption. These rates apply on redemption and don't add to your income-tax slab.

HDFC Mutual Fund · Best Flexi Cap Mutual Funds

NAV

₹70.67

+0.21% 1D

as of 05 Oct 2026

This is the Regular plan of HDFC Flexi Cap Fund — bought through a distributor, whose commission is paid out of its expense ratio. Income is distributed, which is why this NAV sits below the growth plan of the same fund.

Compare SIP calculator

This is the IDCW (dividend) option — it pays its earnings out as dividends rather than reinvesting them, so every payout steps the NAV down and the return figures below leave those payouts out. Your actual return was higher by whatever was distributed. That’s expected for a payout plan, not missing data.

View the Growth plan for compounded returns (+13.84% 3Y CAGR)

Performance

-12.43%absolute

52-week rangePrev NAV ₹70.52

Latest ₹70.67

Low ₹65.6828th percentile of its 52-week rangeHigh ₹83.25

Scorecard

Not rated

How this is computed

Each verdict is computed from this fund's own metrics against its sub-category — the number behind it is shown, not a black-box rating. Not rated — too few comparable Equity funds (same plan and option) to rank against yet.

Performance—

Not enough Flexi Cap Fund peers to rank yet

Risk—

Volatility 15.4% (no category average yet)

Cost—

1.4% expense (no category average yet)

ConsistencyModerate

72% of rolling 3Y windows were positive

Key Metrics

Annual fee charged by the fund, already deducted from NAV

1.37%

Category —

Portfolio-weighted harmonic mean P/E across the fund's equity holdings

22.18

Category —

Excess return per unit of total volatility (rf = 6.5%)

-0.19

Category —

Scheme Info

Definitions

Plan

Regular · IDCW

Period before units can be redeemed — 3 years for ELSS, none for most open-ended funds

None

In respect of each purchase/switch-in of units, an Exit Load of 1.00% is payable if Units are edeemed/switched-out within 1 year from the date of allotment. No Exit Load is payable if Units are redeemed/ switched-out after 1 year from the date of allotment.

Up to 1.00%

tiered — see the full terms

Statutory levy on every mutual-fund purchase since 1 Jul 2020 (SEBI / Govt of India) — the same for every scheme

0.005%

SIP Inv.

Allowed

Smallest recurring SIP instalment the scheme accepts

₹100

Smallest one-time (lumpsum) investment the scheme accepts

₹100

NIFTY 500 Index (Total Returns Index)

Start of our NAV history for this plan. Direct plans begin 1 Jan 2013, so this is the plan's inception — not necessarily the scheme's original launch date.

03 Apr 2006

Period returns (<1Y, absolute — not annualized)

Definitions

Absolute return over the last 1 month (not annualized)

-5.18%

Absolute return over the last 3 months (not annualized)

-3.86%

Absolute return over the last 6 months (not annualized)

+5.81%

Absolute return since 1 Jan of this year (not annualized)

-13.98%

Annualized returns (≥1Y — CAGR)

Definitions

1-year point-to-point return, annualized (CAGR)

-11.96%

3-year annualized return (CAGR)

+3.52%

5-year annualized return (CAGR)

+3.72%

10-year annualized return (CAGR)

+2.91%

Annualized return (CAGR) since the first NAV we hold for this plan — the Inception date under Key metrics. AMFI's history starts in April 2006, so an older scheme is measured from there.

+2.93%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

15.36%

Excess return per unit of total volatility (rf = 6.5%)

-0.19

Excess return per unit of downside deviation — upside swings aren't penalized (rf = 6.5%)

-0.23

Largest peak-to-trough decline over full history

-66.29%

Benchmark ratios (vs Nifty 500 TRI · 36 monthly returns)

Definitions

Jensen's alpha (annualized): return above what CAPM predicts for the fund's beta vs Nifty 500 TRI

-5.00%

Sensitivity to Nifty 500 TRI moves; 1 = moves with the index

0.87

How much of the fund's movement Nifty 500 TRI explains

63.9%

Excess return per unit of beta (market risk)

-3.46

Active return over the benchmark per unit of tracking error

-0.59

Annualized std dev of fund-minus-benchmark returns

10.50%

Fund's share of benchmark gains in up months (100 = matches index)

73.1%

Fund's share of benchmark losses in down months (lower is better)

94.3%

Computed vs the Nifty 500 TRI over the last 36 complete months — the closest match to this fund's mandate. TRI means dividends reinvested, as they are in the fund's own NAV; ₹ means a US index converted at each day's USD/INR, since the fund is priced in rupees. Needs ~3 years of history; a low R² means the fund tracks the index loosely.

Fund vs category average (Flexi Cap Fund)

Period	Fund	Category avg.	Diff
1M abs	-5.18%	—	—
3M abs	-3.86%	—	—
6M abs	+5.81%	—	—
1Y CAGR	-11.96%	—	—
3Y CAGR	+3.52%	—	—
5Y CAGR	+3.72%	—	—

Category average across peers in Flexi Cap Fund, same plan and option, excluding this fund. Under-1-year figures are absolute; 1Y and beyond are annualised (CAGR).

Not sure what a figure means? The glossary explains every metric, and the methodology shows the formulas.

Backtest this fund

What a SIP or one-time investment would have grown to over this fund’s real NAV history.

Monthly investment (₹)

Period

Invested

₹6.00L

Current value

₹6.25L

Absolute

+4.16%

XIRR

+1.66%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into HDFC Flexi Cap Fund, valued at the latest NAV. XIRR annualizes for each installment’s timing.

Calendar-year returns

What the fund actually returned in each year, not the smoothed average.

Year	Fund	Nifty 500 TRI	Diff
2026part	-13.98%	-7.18%	-6.80%
2025	+1.22%	+7.94%	-6.72%
2024	+12.12%	+16.43%	-4.31%
2023	+17.89%	+27.43%	-9.54%
2022	+6.76%	+4.34%	+2.42%
2021	+23.20%	+31.59%	-8.39%
2020	-8.14%	+18.33%	-26.47%
2019	-4.41%	+8.95%	-13.36%
2018	-13.25%	-2.33%	-10.92%
2017	+24.48%	+37.35%	-12.87%

January–December, from this fund's NAV history. Absolute return, not annualised. “part” marks a year the fund didn't run end to end — its first year, the current year so far, or one it stopped reporting in; those years show no benchmark comparison.

History points

5,048

Expense ratio

1.37%

AUM

₹1,01,793Cr

Portfolio turnover

13%

Exit load

Portfolio, AUM & scheme details shown from another plan of this scheme (same underlying portfolio).

P/E ratio

22.2

P/B ratio

4.4

Avg market cap

₹4,10,952Cr

P/E & P/B are portfolio-weighted harmonic means across 67 of 78 equity holdings (84% of the portfolio); loss-making companies are excluded.

Taxation

Taxed as equity

This is an equity-oriented fund (≥65% in Indian equities), so gains get the concessional capital-gains rates below — they do not add to your income-tax slab.

Short-term (STCG)

20%

Held under 1 year

Flat, on the whole gain

Long-term (LTCG)

12.5%

Held 1 year or more

On gains above ₹1.25 L per financial year

Applies to capital gains on redemption. Excludes IDCW/dividend tax, STT, surcharge and cess, and pre-2018 equity grandfathering. For research only — consult a tax advisor before filing.

Peer comparison · Flexi Cap Fund

Compare all


HDFC Flexi Cap FundThis fund HDFC · Regular · IDCW	—	-11.96%	+3.52%	+3.72%	—	1.37%	₹1,01,793Cr
Bank of India Flexi Cap Fund Bank of India · Regular · IDCW	—	+7.59%	+17.02%	+14.29%	—	2.28%	₹2,414Cr
360 ONE Flexicap Fund 360 One · Regular · IDCW	—	+6.57%	+15.08%	—	—	2.37%	₹2,018Cr
ITI Flexi Cap Fund ITI · Regular · IDCW	—	+5.70%	+14.96%	—	—	2.31%	₹1,304Cr
Bajaj Finserv Flexi Cap Fund Bajaj Finserv · Regular · IDCW	—	+2.02%	+14.02%	—	—	2.24%	₹7,090Cr
Quant Flexi Cap Fund quant · Regular · IDCW	—	+7.12%	+13.58%	+12.07%	—	2.20%	₹6,713Cr

Market-cap allocation · AMFI bands, Jul 2026

Equity holdings by company size — 100% of the equity sleeve priced.

Large cap75.8%
Mid cap13.9%
Small cap10.3%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity94.84%
Cash & Equivalents2.52%
Real Estate / REITs2.19%
Debt0.45%

Holds the same stocks as (by portfolio overlap, not by category)

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
HDFC ELSS - Tax Saver Fund HDFC · ELSS	66.6%!	★★★★☆	1.21%	+11.62%
HDFC Focused Fund HDFC · Focused Fund	61.4%	★★★★★	0.82%	+14.46%
HDFC Retirement Fund - Equity HDFC · Retirement Fund	55.3%	★★★★☆	0.92%	+8.44%
HDFC Aggressive Hybrid Fund HDFC · Aggressive Hybrid Fund	52.6% of 69% equity	★★☆☆☆	1.10%	+5.55%
Franklin India ELSS Tax Saver Fund Franklin Templeton · ELSS	52.2%!	★★★☆☆	1.15%	+9.31%
HDFC Multi Asset Allocation Fund HDFC · Multi Asset Allocation	51.5% of 67% equity	★★★☆☆	0.99%	+11.32%
PGIM India Large Cap Fund PGIM India · Large Cap Fund	51.4%!	★☆☆☆☆	1.09%	+6.85%
Franklin India Flexi Cap Fund Franklin Templeton · Flexi Cap Fund	51.4%	★★★☆☆	0.99%	+9.55%

Overlap is the share of each fund's equity book invested in the same stocks, by weight, across the Direct-plan universe — so a fund that is only part equity is labelled as such. ! marks a pair holding more in common than nine pairs in ten of its type, where that type has a measured distribution.

🚩Holdings under NSE surveillance (ASM)

2 holdings — 1.73% of the portfolio — sit in stocks NSE currently lists under its Additional Surveillance Measure. ASM is an exchange response to unusual price or volume activity (higher margins, and trade-for-trade settlement at stage II), not a view on the company or on this fund.

PB Fintech LimitedShort-term · Stage I1.52%
Rubicon Research LimitedLong-term · Stage I0.21%

Source: NSE ASM list, matched to holdings by company name — a holding whose name differs from NSE's spelling may not be matched. BSE's separate list is not covered.

Worst falls, and the wait to get back

How far this fund has dropped from a high, and how long it took to reclaim it.

-66.3%07 Jan 2008 → 20 Mar 2009
Fell over 14 months, back to the old high on 17 Nov 2014 — 5.7 years under water after the low.
-58.8%23 Jan 2018 → 23 Mar 2020
Fell over 2.2 years, back to the old high on 08 Sep 2023 — 3.5 years under water after the low.
-35.0%29 Jan 2015 → 25 Feb 2016
Fell over 13 months, back to the old high on 17 Jan 2018 — 1.9 years under water after the low.

Measured on this fund’s own NAV history, peak to trough to the day it regained the peak. Falls shallower than 5% are left out. A recovery date is when the NAV got back, not when any particular investor did — that depends on when they bought.

Fund size over time

Quarterly average AUM · AMFI

₹1,01,793Cr

April - June 2026

+5%

since January - March 2026

+₹18,889Cr

est. net flow, last quarter

At or near its largest, ₹1,01,793Cr in April - June 2026. Size matters most where the mandate is narrow — a large small-cap or a very large flexi-cap book is harder to move without moving the price.

Net flow is an estimate: AMFI publishes a quarterly average AUM, not a closing balance, and it covers every plan and option of this scheme together, so it is a read on direction and rough size rather than a cash-flow statement.

AMC Profile

HDFC Mutual Fund is run by HDFC Asset Management, part of the HDFC Bank group and listed on the exchanges since 2018. It has been in business since 1999, absorbed Zurich India's schemes in 2003, and is consistently among the two or three largest fund houses by assets.

Launched

09 Dec 1999

Total AUM

₹9,35,100Cr+0.8% QoQ

Avg AUM · April - June 2026

Website

hdfcfund.com

Fund Managers

AGAmit GanatraManaging since 01 Feb 2026

Total experience

23 years

Education

Chartered Accountant (ICAI), CFA (CFA Institute, Fund Management and USA) M.Com

Experience

Collectively 23 years of January 28, 2026 onwards: experience of which 22 HDFC Asset Management Company Limited years of experience in January 17, 2022 to January 27, 2026 Invesco India Asset Management Equity Research Last position held: Director & Head - Equities May 19, 2020 to January 14, 2022 HDFC Asset Management Company Limited Last position held: Senior Fund Manager - Equity January 2, 2007 to May 18, 2020 Invesco Asset Management (India) Private Limited Last Position Held: Fund Manager - Equity

GAGopal AgrawalManaging since 01 Sep 2026

Education

• B.E., • MBM • B.E (Jadavpur University)

Experience

Collectively over 22 years experience in Fund Management and 2.5 years in Equity Research • July 9, 2020 till Date: HDFC Asset Management Company Limited • July 23, 2018 till June 30, 2020: DSP Investment Managers Private Limited Last Position Held: Senior Fund Manager and Head-Macro strategy • April 03, 2017 till July 16, 2018: TATA Asset Management Company Limited Last Position Held: CIO-Equity • October 01, 2007 till March 31, 2017: Mirae Asset Global Investments (India) Pvt. Ltd.. Last Position Held: CIO-Equity and Chief Strategist

Funds managed (3)

All schemes Gopal Agrawal runs →

BKBhagyesh KagalkarManaging since 26 Aug 2026

Education

• B.E (Production) Collectively • MMS (Finance)

Experience

over 31 years experience in Equity Research, investments and Finance • January 3, 2007 till Date: HDFC Asset Management Company Limited

Funds managed (19)

All schemes Bhagyesh Kagalkar runs →

Fund managers from the AMC's filed Scheme Summary — its most recent filing for this scheme. Benchmark and dealing terms from it and this scheme's SEBI-filed Scheme Information Document on AMFI. Each manager's qualifications and role are reconciled across every filing this fund house makes for them, including its Statement of Additional Information. Total AUM via AMFI.

Explore from here

Fund managers

Gopal Agrawal Bhagyesh Kagalkar

Top holdings

ICICI Bank Ltd.Axis Bank Ltd.HDFC Bank Ltd.State Bank of India Eternal Limited Kotak Mahindra Bank Limited SBI Life Insurance Company Ltd.Larsen and Toubro Ltd.InterGlobe Aviation Ltd.Maruti Suzuki India Limited Bharti Airtel Ltd.HCL Technologies Ltd.

HDFC in the news

Headlines about the fund house, not this scheme in particular — highlights only; tap through to read the full story at the source.

Run SIP calculator Add to compare

Returns and risk are computed from NAV history and may differ slightly from other portals due to methodology (rolling vs point-to-point, dividend treatment). For research only — not investment advice.

About Flexi Cap funds

Flexi cap funds invest across large, mid and small-cap stocks with no fixed allocation, letting the manager shift with the market cycle. That flexibility can help manage risk and chase growth wherever it is.

Frequently asked questions

What is the NAV of HDFC Flexi Cap Fund?

As of 05 Oct 2026, the NAV of HDFC Flexi Cap Fund is ₹70.67 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has HDFC Flexi Cap Fund delivered?

HDFC Flexi Cap Fund has returned -11.96% over 1 year, +3.52% per year over 3 years, +3.72% per year over 5 years and +2.93% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.

What is the expense ratio of HDFC Flexi Cap Fund?

HDFC Flexi Cap Fund charges an expense ratio of 1.37% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

What are the top holdings of HDFC Flexi Cap Fund?

HDFC Flexi Cap Fund's largest holdings are ICICI Bank Ltd. (9.2%), Axis Bank Ltd. (6.2%), HDFC Bank Ltd. (5.7%), State Bank of India (4.2%) and Eternal Limited (3.4%). Holdings are disclosed monthly and change over time.

How risky is HDFC Flexi Cap Fund?

HDFC Flexi Cap Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 15.4% and its worst peak-to-trough fall in our sample was -66.3%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What does the Sharpe ratio of -0.19 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. HDFC Flexi Cap Fund's -0.19 means it has not compensated investors for its volatility over the window. Higher is better.

What is the benchmark of HDFC Flexi Cap Fund?

HDFC Flexi Cap Fund is benchmarked against the NIFTY 500 Index (Total Returns Index). Its alpha and beta on this page are measured against that index.

Who manages HDFC Flexi Cap Fund?

HDFC Flexi Cap Fund is managed by Amit Ganatra, Gopal Agrawal and Bhagyesh Kagalkar at HDFC.

How is HDFC Flexi Cap Fund taxed?

HDFC Flexi Cap Fund is an equity-oriented fund, so its capital gains get concessional rates: short-term gains (units held under 1 year) are taxed at 20%, and long-term gains (held 1 year or more) at 12.5% above a ₹1.25 lakh per-year exemption. These rates apply on redemption and don't add to your income-tax slab.