EquityFocused FundRegularGrowthVery High

HDFC Focused Fund

Q: What is the NAV of HDFC Focused Fund?

As of 05 Oct 2026, the NAV of HDFC Focused Fund is ₹222.48 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has HDFC Focused Fund delivered?

HDFC Focused Fund has returned -4.85% over 1 year, +13.25% per year over 3 years, +14.91% per year over 5 years and +11.40% 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 Focused Fund?

HDFC Focused Fund charges an expense ratio of 1.70% 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 Focused Fund?

HDFC Focused Fund's largest holdings are ICICI Bank Ltd. (9.5%), HDFC Bank Ltd. (7.2%), Axis Bank Ltd. (6.9%), Kotak Mahindra Bank Limited (5.7%) and State Bank of India (5.3%). Holdings are disclosed monthly and change over time.

Q: How risky is HDFC Focused Fund?

HDFC Focused Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 11.8% and its worst peak-to-trough fall in our sample was -64.2%. 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 0.57 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. HDFC Focused Fund's 0.57 means it has rewarded its volatility with excess return. Higher is better.

Q: What is the benchmark of HDFC Focused Fund?

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

Q: Who manages HDFC Focused Fund?

HDFC Focused Fund is managed by Amar Kalkundrikar, Gopal Agrawal and Bhagyesh Kagalkar at HDFC.

Q: How is HDFC Focused Fund taxed?

HDFC Focused 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 Focused Mutual Funds

NAV

₹222.48

+0.13% 1D

as of 05 Oct 2026

This is the Regular plan of HDFC Focused Fund — bought through a distributor, whose commission is paid out of its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.

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Performance

-5.42%absolute

52-week rangePrev NAV ₹222.20

Latest ₹222.48

Low ₹208.5541st percentile of its 52-week rangeHigh ₹242.70

Scorecard

★★★★★5/5 vs 27 Focused Fund peers

Performance 60%
Risk 15%
Cost 10%
Downside 15%

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. The stars weight the same ground 60/15/10/15 (performance/risk/cost/downside) across every fund in the peer group. Ranked within Focused Fund (same plan and option).

PerformanceStrong

3Y CAGR +13.25% · ranks 7 of 27 Focused Funds

RiskLow

Volatility 11.8% vs 14.7% category avg

CostLow

1.7% expense vs 2.3% category avg

ConsistencyModerate

89% of rolling 3Y windows were positive

Strengths & concerns

Generated from this fund's own numbers against its sub-category — each point names the figure behind it.

Strengths

3-year return (+13.25%) beats the Focused Fund average (+10.33%)
5-year return (+14.91%) beats the Focused Fund average (+8.77%)
Stronger risk-adjusted returns — Sharpe 0.57 vs 0.26 Focused Fund average
Less volatile than its Focused Fund peers (11.8% vs 14.7%)
Low expense ratio (1.70%) vs the Focused Fund average of 2.32%

Concerns

Trails the Focused Fund average on 3M/6M/1Y — 1Y by 4.76pp

Key Metrics

Annual fee charged by the fund, already deducted from NAV

1.70%

Category 2.32%▼0.62%

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

23.08

Category —

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

0.57

Category 0.26▲0.31

Scheme Info

Definitions

Plan

Regular · Growth

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 redeemed/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 (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)

-4.77%

Absolute return over the last 3 months (not annualized)

-4.47%

Absolute return over the last 6 months (not annualized)

+5.15%

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

-6.81%

Annualized returns (≥1Y — CAGR)

Definitions

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

-4.85%

3-year annualized return (CAGR)

+13.25%

5-year annualized return (CAGR)

+14.91%

10-year annualized return (CAGR)

+12.94%

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.

+11.40%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

11.76%

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

0.57

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

0.80

Largest peak-to-trough decline over full history

-64.16%

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

3.67%

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

0.80

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

90.1%

Excess return per unit of beta (market risk)

8.36

Active return over the benchmark per unit of tracking error

0.67

Annualized std dev of fund-minus-benchmark returns

5.22%

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

96.7%

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

75.8%

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 (Focused Fund)

Period	Fund	Category avg.	Diff
1M abs	-4.77%	-4.74%	-0.03%
3M abs	-4.47%	-3.10%	-1.37%
6M abs	+5.15%	+10.14%	-4.99%
1Y CAGR	-4.85%	-0.09%	-4.76%
3Y CAGR	+13.25%	+10.33%	+2.92%
5Y CAGR	+14.91%	+8.77%	+6.14%

Category average across peers in Focused Fund (up to 27 funds with data), 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.

Category rank

Vs 27 peers in Focused Fund

1Y return

-4.85%

Beats 25.9% · rank #21

3Y return

+13.25%

Beats 76.9% · rank #7

5Y return🏆

+14.91%

Beats 100% · rank #1

Sharpe

0.57

Beats 88.5% · rank #3

Sortino

0.80

Beats 92.3% · rank #3

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

₹7.98L

Absolute

+33.00%

XIRR

+11.71%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into HDFC Focused 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	-6.81%	-7.18%	+0.37%
2025	+10.93%	+7.94%	+2.99%
2024	+23.97%	+16.43%	+7.54%
2023	+29.58%	+27.43%	+2.15%
2022	+18.29%	+4.34%	+13.95%
2021	+40.11%	+31.59%	+8.52%
2020	+4.19%	+18.33%	-14.14%
2019	+3.77%	+8.95%	-5.18%
2018	-14.63%	-2.33%	-12.30%
2017	+38.74%	+37.35%	+1.39%

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

1.70%

AUM

₹26,336Cr

Portfolio turnover

15%

Exit load

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

P/E ratio

23.1

P/B ratio

4.6

Avg market cap

₹4,25,850Cr

P/E & P/B are portfolio-weighted harmonic means across 25 of 29 equity holdings (85% 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 · Focused Fund

Compare all


HDFC Focused FundThis fund HDFC · Regular · Growth	★★★★★	-4.85%	+13.25%	+14.91%	—	1.70%	₹26,336Cr
Invesco India Focused Fund Invesco · Regular · Growth	★★★★☆	+2.47%	+18.55%	+12.71%	—	1.94%	₹5,225Cr
ICICI Prudential Focused Fund ICICI Prudential · Regular · Growth	★★★★☆	-2.86%	+14.76%	+12.47%	—	2.13%	—
ITI Focused Fund ITI · Regular · Growth	★★★★☆	+2.78%	+14.25%	—	—	2.59%	₹567.11Cr
Bandhan Focused Fund Bandhan · Regular · Growth	★★★☆☆	+0.68%	+13.60%	+10.18%	—	2.27%	₹2,036Cr
SBI Focused Fund SBI · Regular · Growth	★★★★★	+7.66%	+13.43%	+9.94%	—	1.60%	₹44,948Cr

Market-cap allocation · AMFI bands, Jul 2026

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

Large cap80.3%
Mid cap10.1%
Small cap9.5%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity95.70%
Cash & Equivalents2.34%
Real Estate / REITs1.78%
Debt0.18%

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

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
HDFC Flexi Cap Fund HDFC · Flexi Cap Fund	61.4%	★★★★★	0.77%	+14.59%
HDFC ELSS - Tax Saver Fund HDFC · ELSS	61.2%	★★★★☆	1.21%	+11.62%
HDFC Conservative Hybrid Fund HDFC · Conservative Hybrid Fund	48.7% of 19% equity	★★★☆☆	1.18%	+6.99%
HDFC Aggressive Hybrid Fund HDFC · Aggressive Hybrid Fund	47.7% of 69% equity	★★☆☆☆	1.10%	+5.55%
DSP Dynamic Asset Allocation Fund DSP · Dynamic Asset Allocation or Balanced Advantage	46.1% of 71% equity	★★★☆☆	1.04%	+9.86%
HDFC Retirement Fund - Equity HDFC · Retirement Fund	46.1%	★★★★☆	0.92%	+8.44%
DSP ELSS Tax Saver Fund DSP · ELSS	45.9%	★★★★★	0.92%	+11.96%
Franklin India ELSS Tax Saver Fund Franklin Templeton · ELSS	45.6%	★★★☆☆	1.15%	+9.31%

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.

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.

-64.2%04 Jan 2008 → 09 Mar 2009
Fell over 14 months, back to the old high on 09 Jul 2010 — 16 months under water after the low.
-46.7%08 Jan 2018 → 23 Mar 2020
Fell over 2.2 years, back to the old high on 05 Feb 2021 — 10 months under water after the low.
-35.4%10 Nov 2010 → 28 Aug 2013
Fell over 2.8 years, back to the old high on 14 May 2014 — 9 months 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

₹26,336Cr

April - June 2026

since January - March 2026

+₹2,010Cr

est. net flow, last quarter

At or near its largest, ₹26,350Cr in January - March 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

AKAmar KalkundrikarManaging since 01 Feb 2026

Role

Fund Manager - Equities

Total experience

20 years

Education

Chartered Accountant (ICAI), CFA (CFA Institute, Charlottesville, Equity Research and VA), MBA (Joint Program from London and Columbia Business School)

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.HDFC Bank Ltd.Axis Bank Ltd.Kotak Mahindra Bank Limited State Bank of India Eternal Limited Sun Pharmaceutical Industries Ltd.HCL Technologies Ltd.InterGlobe Aviation Ltd.Maruti Suzuki India Limited Eicher Motors Ltd.SBI Life Insurance Company 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 Focused funds

Focused funds hold a concentrated portfolio of at most 30 stocks. Higher conviction can mean higher returns, but a few positions carry more of the outcome — so more concentration risk.

Frequently asked questions

What is the NAV of HDFC Focused Fund?

As of 05 Oct 2026, the NAV of HDFC Focused Fund is ₹222.48 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has HDFC Focused Fund delivered?

HDFC Focused Fund has returned -4.85% over 1 year, +13.25% per year over 3 years, +14.91% per year over 5 years and +11.40% 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 Focused Fund?

HDFC Focused Fund charges an expense ratio of 1.70% 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 Focused Fund?

HDFC Focused Fund's largest holdings are ICICI Bank Ltd. (9.5%), HDFC Bank Ltd. (7.2%), Axis Bank Ltd. (6.9%), Kotak Mahindra Bank Limited (5.7%) and State Bank of India (5.3%). Holdings are disclosed monthly and change over time.

How risky is HDFC Focused Fund?

HDFC Focused Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 11.8% and its worst peak-to-trough fall in our sample was -64.2%. 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 0.57 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. HDFC Focused Fund's 0.57 means it has rewarded its volatility with excess return. Higher is better.

What is the benchmark of HDFC Focused Fund?

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

Who manages HDFC Focused Fund?

HDFC Focused Fund is managed by Amar Kalkundrikar, Gopal Agrawal and Bhagyesh Kagalkar at HDFC.

How is HDFC Focused Fund taxed?

HDFC Focused 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.