DebtBanking and PSU FundDirectIDCWLow to Moderate

HDFC Banking and PSU Debt Fund

Q: What is the NAV of HDFC Banking and PSU Debt Fund?

As of 05 Oct 2026, the NAV of HDFC Banking and PSU Debt Fund is ₹10.00 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has HDFC Banking and PSU Debt Fund delivered?

HDFC Banking and PSU Debt Fund has returned -0.56% over 1 year, -0.14% per year over 3 years, -0.05% per year over 5 years and -0.01% 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 Banking and PSU Debt Fund?

HDFC Banking and PSU Debt Fund charges an expense ratio of 0.35% 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 Banking and PSU Debt Fund?

HDFC Banking and PSU Debt Fund's largest holdings are Indian Railways Finance Corp. Ltd. (5.3%), Bajaj Housing Finance Ltd. (2.9%), Indian Railways Finance Corp. Ltd. (2.9%), REC Limited. (2.9%) and Housing and Urban Development Corporation Ltd. (2.5%). Holdings are disclosed monthly and change over time.

Q: How risky is HDFC Banking and PSU Debt Fund?

HDFC Banking and PSU Debt Fund is rated low to moderate on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 1.8% and its worst peak-to-trough fall in our sample was -4.5%. 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 -3.75 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. HDFC Banking and PSU Debt Fund's -3.75 means it has not compensated investors for its volatility over the window. Higher is better.

Q: What is the benchmark of HDFC Banking and PSU Debt Fund?

HDFC Banking and PSU Debt Fund is benchmarked against the Nifty Banking & PSU Debt Index A-II. Its alpha and beta on this page are measured against that index.

Q: Who manages HDFC Banking and PSU Debt Fund?

HDFC Banking and PSU Debt Fund is managed by Anil Bamboli and Gopal Agrawal at HDFC.

Q: How is HDFC Banking and PSU Debt Fund taxed?

HDFC Banking and PSU Debt 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.

HDFC Mutual Fund · Best Banking & PSU Mutual Funds

NAV

₹10.00

+0.10% 1D

as of 05 Oct 2026

This is the Direct plan of HDFC Banking and PSU Debt Fund — bought from the fund house, with no distributor commission in 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 (+6.98% 3Y CAGR)

NAV history

-0.68%absolute

52-week rangePrev NAV ₹9.99

Latest ₹10.00

Low ₹9.9629th percentile of its 52-week rangeHigh ₹10.09

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 Debt funds (same plan and option) to rank against yet.

Performance—

Not enough Banking and PSU Fund peers to rank yet

Risk—

Volatility 1.8% (no category average yet)

Cost—

0.3% expense (no category average yet)

ConsistencyLow

50% 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 50% of rolling 3-year windows

Key Metrics

Annual fee charged by the fund, already deducted from NAV

0.35%

Category —

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

—

Category —

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

-3.75

Category —

Scheme Info

Definitions

Plan

Direct · IDCW

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

None

Exit Load

None

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 Banking & PSU Debt Index A-II

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.

26 Mar 2014

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

Definitions

Absolute return over the last 1 month (not annualized)

-0.18%

Absolute return over the last 3 months (not annualized)

-0.65%

Absolute return over the last 6 months (not annualized)

+0.39%

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

-0.36%

Annualized returns (≥1Y — CAGR)

Definitions

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

-0.56%

3-year annualized return (CAGR)

-0.14%

5-year annualized return (CAGR)

-0.05%

10-year annualized return (CAGR)

-0.22%

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.

-0.01%

Advanced metrics — risk

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

1.77%

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

-3.75

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

-4.04

Largest peak-to-trough decline over full history

-4.50%

Benchmark ratios

Not shown for Banking and PSU Fund — a debt, arbitrage or cash-like fund isn't measured against an equity index, so alpha/beta vs one would be noise rather than signal.

Fund vs category average (Banking and PSU Fund)

Period	Fund	Category avg.	Diff
1M abs	-0.18%	—	—
3M abs	-0.65%	—	—
6M abs	+0.39%	—	—
1Y CAGR	-0.56%	—	—
3Y CAGR	-0.14%	—	—
5Y CAGR	-0.05%	—	—

Category average across peers in Banking and PSU 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

₹5.98L

Absolute

-0.36%

XIRR

-0.15%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into HDFC Banking and PSU Debt 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	-0.36%
2025	-0.01%
2024	-0.05%
2023	-0.03%
2022	+0.11%
2021	-0.33%
2020	-2.50%
2019	-0.22%
2018	+0.68%
2017	+0.36%

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.

History points

3,024

Expense ratio

0.35%

AUM

₹5,270Cr

YTM

7.56%

Macaulay duration

3.07 years

Average maturity

3.87 years

Exit load

NIL

Taxation

Taxed as debt

This 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.

Any holding period

30%

Short- and long-term alike

Your income-tax slab — no LTCG or indexation benefit

Your income-tax slab

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.

Peer comparison · Banking and PSU Fund

Compare all


HDFC Banking and PSU Debt FundThis fund HDFC · Direct · IDCW	—	-0.56%	-0.14%	-0.05%	—	0.35%	₹5,270Cr
UTI Banking & PSU Debt Fund UTI · Direct · Discontinued · Flexi IDCW	—	+6.00%	+7.43%	+7.77%	—	—	—
UTI Banking & PSU Debt Fund UTI · Direct · Discontinued · Quarterly IDCW	—	+6.00%	+7.43%	+7.56%	—	0.24%	—
UTI Banking & PSU Debt Fund UTI · Direct · Half-Yearly IDCW	—	+6.00%	+7.43%	+7.77%	—	0.24%	—
LIC MF Banking & PSU Debt Fund LIC · Direct · Monthly IDCW	—	+5.00%	+7.24%	+6.30%	—	0.28%	—
SBI Banking & PSU Debt Fund SBI · Direct · IDCW	—	+4.92%	+7.11%	+6.15%	—	0.41%	—

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Debt94.67%
Cash & Equivalents4.98%
Other0.35%

which companies this fund invests in

As on 31 Aug 2026 · AMC disclosure

Indian Railways Finance Corp. Ltd.

5.30%

Bajaj Housing Finance Ltd.

2.90%

Indian Railways Finance Corp. Ltd.

2.90%

REC Limited.

2.89%

Housing and Urban Development Corporation Ltd.

2.47%

HDFC Bank Ltd.

2.42%

National Bank for Agri & Rural Dev.

2.41%

Power Finance Corporation Ltd.

2.40%

Punjab National Bank

2.36%

Bajaj Housing Finance Ltd.

1.93%

Fund size over time

Quarterly average AUM · AMFI

₹5,270Cr

April - June 2026

-6%

since January - March 2026

−₹277.59Cr

est. net flow, last quarter

Down +6% from its peak of ₹5,581Cr 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

ABAnil BamboliManaging since 26 Mar 2014

Role

Senior Fund Manager - Fixed Income

Education

• B. Com, Grad • CWA, • MMS (Finance), • CFA (CFA Institute)

Experience

Collectively over 31 years experience in Fund Management and Research, Fixed Income dealing • July 25, 2003 till Date: HDFC Asset Management Company Limited

Funds managed (12)

All schemes Anil Bamboli runs →

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 →

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

Anil Bamboli Gopal Agrawal

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.

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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 Banking & PSU funds

Banking and PSU funds must keep at least 80% in the debt of banks, public sector undertakings, public financial institutions and municipal bonds. That issuer restriction is the category: it targets high-rated, quasi-sovereign borrowers, so credit risk is low and the main risk left is interest rates.

Frequently asked questions

What is the NAV of HDFC Banking and PSU Debt Fund?

As of 05 Oct 2026, the NAV of HDFC Banking and PSU Debt Fund is ₹10.00 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has HDFC Banking and PSU Debt Fund delivered?

HDFC Banking and PSU Debt Fund has returned -0.56% over 1 year, -0.14% per year over 3 years, -0.05% per year over 5 years and -0.01% 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 Banking and PSU Debt Fund?

HDFC Banking and PSU Debt Fund charges an expense ratio of 0.35% 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 Banking and PSU Debt Fund?

HDFC Banking and PSU Debt Fund's largest holdings are Indian Railways Finance Corp. Ltd. (5.3%), Bajaj Housing Finance Ltd. (2.9%), Indian Railways Finance Corp. Ltd. (2.9%), REC Limited. (2.9%) and Housing and Urban Development Corporation Ltd. (2.5%). Holdings are disclosed monthly and change over time.

How risky is HDFC Banking and PSU Debt Fund?

HDFC Banking and PSU Debt Fund is rated low to moderate on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 1.8% and its worst peak-to-trough fall in our sample was -4.5%. 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 -3.75 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. HDFC Banking and PSU Debt Fund's -3.75 means it has not compensated investors for its volatility over the window. Higher is better.

What is the benchmark of HDFC Banking and PSU Debt Fund?

HDFC Banking and PSU Debt Fund is benchmarked against the Nifty Banking & PSU Debt Index A-II. Its alpha and beta on this page are measured against that index.

Who manages HDFC Banking and PSU Debt Fund?

HDFC Banking and PSU Debt Fund is managed by Anil Bamboli and Gopal Agrawal at HDFC.

How is HDFC Banking and PSU Debt Fund taxed?

HDFC Banking and PSU Debt 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.