This is the Direct plan of HDFC Liquid Fund — bought from the fund house, with no distributor commission in its expense ratio. Income is distributed weekly, which is why this NAV sits below the growth plan of the same fund.
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 (+6.92% 3Y CAGR)NAV history
Scorecard
Not ratedHow 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 Debt funds (same plan and option) to rank against yet.
Not enough Liquid Fund peers to rank yet
Volatility 0.8% (no category average yet)
0.2% expense (no category average yet)
48% 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
No standout strengths identified.
Concerns
- Positive in only 48% of rolling 3-year windows
Key Metrics
Scheme Info
DefinitionsPeriod returns (<1Y, absolute — not annualized)
DefinitionsAnnualized returns (≥1Y — CAGR)
DefinitionsAdvanced metrics — risk
Fund vs category average (Liquid Fund)
| Period | Fund | Category avg. | Diff |
|---|---|---|---|
| 1M abs | +0.03% | — | — |
| 3M abs | -0.03% | — | — |
| 6M abs | -0.11% | — | — |
| 1Y CAGR | +0.01% | — | — |
| 3Y CAGR | +0.04% | — | — |
| 5Y CAGR | +0.03% | — | — |
Category average across peers in Liquid 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.
60 monthly installments of ₹10,000 into HDFC Liquid 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 | |
|---|---|---|
| 2026part | +0.09% | |
| 2025 | 0.00% | |
| 2024 | -0.07% | |
| 2023 | +0.03% | |
| 2022 | +0.05% | |
| 2021 | +0.01% | |
| 2020 | +0.02% | |
| 2019 | -0.13% | |
| 2018 | +0.05% | |
| 2017 | +0.02% |
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.
Taxation
Taxed as debtThis is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — every rupee of gain is added to your income and taxed at your income-tax slab rate, whatever the holding period.
Your income-tax slab — no LTCG or indexation benefit
Pick your slab to see the rate that applies to you.
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.
Asset allocation
As on 31 Aug 2026 · AMC disclosure- Debt98.48%
- Cash & Equivalents1.24%
- Other0.28%
Cash & cash-like: 11.18% — the 1.24% above plus treasury bills, certificates of deposit, commercial paper and TREPS, which the allocation files under Debt but the market counts as cash-equivalent.
Fund size over time
Quarterly average AUM · AMFIAt or near its largest, ₹73,267Cr 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.
Fund Managers
RPRohan PillaiManaging since 01 Oct 2025
SJSwapnil JangamManaging since 06 Oct 2022
• B.Com., • Chartered Accountant, • CFA (CFA Institute, USA)
Collectively over 15 years experience in dealing in fixed income products, debt investment operations, cashflow management and statutory audit of companies in financial sector. Designated as Manger - Dealing and Investments since October 24, 2016. • September 2012 till Date: HDFC Asset Management Company Limited
GAGopal AgrawalManaging since 01 Sep 2026
• B.E., • MBM • B.E (Jadavpur University)
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
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.
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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 Liquid funds
Liquid funds invest in very short-term debt (maturing within 91 days). They're used to park money for days or weeks — low risk and easy to redeem, but low return too.
Frequently asked questions
What is the NAV of HDFC Liquid Fund?
As of 05 Oct 2026, the NAV of HDFC Liquid Fund is ₹1,032.52 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.
What returns has HDFC Liquid Fund delivered?
HDFC Liquid Fund has returned +0.01% over 1 year, +0.04% per year over 3 years, +0.03% per year over 5 years and 0.00% 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 Liquid Fund?
HDFC Liquid Fund charges an expense ratio of 0.20% 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 Liquid Fund?
HDFC Liquid Fund's largest holdings are 6.97% GOI MAT 060926 (5.4%), Reliance Retail ventures Ltd. (2.8%), 182 Days TBILL MAT 100926 (2.5%), Small Industries Development Bank (2.4%) and Export - Import Bank of India (2.1%). Holdings are disclosed monthly and change over time.
How risky is HDFC Liquid Fund?
HDFC Liquid Fund is rated low on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 0.8% and its worst peak-to-trough fall in our sample was -0.5%. 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 -7.80 mean?
The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. HDFC Liquid Fund's -7.80 means it has not compensated investors for its volatility over the window. Higher is better.
What is the benchmark of HDFC Liquid Fund?
HDFC Liquid Fund is benchmarked against the CRISIL Liquid Debt A-I Index. Its alpha and beta on this page are measured against that index.
Who manages HDFC Liquid Fund?
HDFC Liquid Fund is managed by Rohan Pillai, Swapnil Jangam and Gopal Agrawal at HDFC.
How is HDFC Liquid Fund taxed?
HDFC Liquid Fund is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — capital gains are added to your income and taxed at your income-tax slab rate regardless of how long you held the units.