EquityDividend Yield FundDirectIDCWVery High

HDFC Dividend Yield Fund

Q: What is the NAV of HDFC Dividend Yield Fund?

As of 01 Oct 2026, the NAV of HDFC Dividend Yield Fund is ₹20.78 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has HDFC Dividend Yield Fund delivered?

HDFC Dividend Yield Fund has returned -9.36% over 1 year, +4.60% per year over 3 years, +7.88% per year over 5 years and +13.47% 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 Dividend Yield Fund?

HDFC Dividend Yield Fund charges an expense ratio of 0.87% 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 Dividend Yield Fund?

HDFC Dividend Yield Fund's largest holdings are ICICI Bank Ltd. (5.6%), HDFC Bank Ltd. (4.8%), Axis Bank Ltd. (3.7%), Larsen and Toubro Ltd. (2.7%) and Bharti Airtel Ltd. (2.5%). Holdings are disclosed monthly and change over time.

Q: How risky is HDFC Dividend Yield Fund?

HDFC Dividend Yield Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 15.5% and its worst peak-to-trough fall in our sample was -27.9%. 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 -0.12 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. HDFC Dividend Yield Fund's -0.12 means it has not compensated investors for its volatility over the window. Higher is better.

Q: What is the benchmark of HDFC Dividend Yield Fund?

HDFC Dividend Yield 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 Dividend Yield Fund?

HDFC Dividend Yield Fund is managed by Gopal Agrawal, Gopal Agrawal and Bhagyesh Kagalkar at HDFC.

Q: How is HDFC Dividend Yield Fund taxed?

HDFC Dividend Yield 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 Dividend Yield Mutual Funds

NAV

₹20.78

-0.75% 1D

as of 01 Oct 2026

This is the Direct plan of HDFC Dividend Yield 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 (+9.61% 3Y CAGR)

Performance

-8.55%CAGR

52-week rangePrev NAV ₹20.94

Latest ₹20.78

Low ₹19.1334th percentile of its 52-week rangeHigh ₹23.92

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 Dividend Yield Fund peers to rank yet

Risk—

Volatility 15.5% (no category average yet)

Cost—

0.9% expense (no category average yet)

ConsistencyHigh

100% 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

Consistent — positive in 100% of rolling 3-year windows

Concerns

No significant concerns identified.

Key Metrics

Annual fee charged by the fund, already deducted from NAV

0.87%

Category —

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

18.49

Category —

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

-0.12

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 of 1.00% is payable if Units are redeemed / switched-out within 1 year from the date of allotment of units. • 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.

18 Dec 2020

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

Definitions

Absolute return over the last 1 month (not annualized)

-5.06%

Absolute return over the last 3 months (not annualized)

-3.05%

Absolute return over the last 6 months (not annualized)

+6.57%

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

-11.61%

Annualized returns (≥1Y — CAGR)

Definitions

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

-9.36%

3-year annualized return (CAGR)

+4.60%

5-year annualized return (CAGR)

+7.88%

10-year annualized return (CAGR)

—

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.

+13.47%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

15.47%

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

-0.12

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

-0.15

Largest peak-to-trough decline over full history

-27.92%

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

-4.22%

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

0.93

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

84.7%

Excess return per unit of beta (market risk)

-1.75

Active return over the benchmark per unit of tracking error

-0.76

Annualized std dev of fund-minus-benchmark returns

6.35%

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

80.3%

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

97.4%

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 (Dividend Yield Fund)

Period	Fund	Category avg.	Diff
1M abs	-5.06%	—	—
3M abs	-3.05%	—	—
6M abs	+6.57%	—	—
1Y CAGR	-9.36%	—	—
3Y CAGR	+4.60%	—	—
5Y CAGR	+7.88%	—	—

Category average across peers in Dividend Yield 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

₹6.75L

Absolute

+12.48%

XIRR

+4.80%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into HDFC Dividend Yield 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	-11.61%	-7.18%	-4.43%
2025	-2.94%	+7.94%	-10.88%
2024	+17.62%	+16.43%	+1.19%
2023	+39.88%	+27.43%	+12.45%
2022	+1.27%	+4.34%	-3.07%
2021	+44.24%	+31.59%	+12.65%
2020part	+0.72%	—	—

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

1,426

Expense ratio

0.87%

AUM

₹5,632Cr

Portfolio turnover

Exit load

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

P/E ratio

18.5

P/B ratio

3.3

Avg market cap

₹3,44,525Cr

P/E & P/B are portfolio-weighted harmonic means across 102 of 126 equity holdings (90% 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 · Dividend Yield Fund

Compare all


HDFC Dividend Yield FundThis fund HDFC · Direct · IDCW	—	-9.36%	+4.60%	+7.88%	—	0.87%	₹5,632Cr
LIC MF Dividend Yield Fund LIC · Direct · IDCW	—	+4.34%	+17.46%	—	—	0.97%	₹675.68Cr
Tata Dividend Yield Fund Tata · Direct · IDCW	—	+6.50%	+12.59%	+12.87%	—	0.79%	₹1,049Cr
Tata Dividend Yield Fund Tata · Direct · IDCW	—	+6.50%	+12.59%	+12.87%	—	0.79%	₹1,049Cr
SBI Dividend Yield Fund SBI · Direct · IDCW	—	+0.47%	+9.82%	—	—	1.12%	₹8,349Cr
UTI - Dividend Yield Fund UTI · Direct · IDCW	—	-6.54%	+8.99%	+7.29%	—	1.54%	₹3,728Cr

Market-cap allocation · AMFI bands, Jul 2026

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

Large cap63.6%
Mid cap15.8%
Small cap20.6%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity98.62%
Real Estate / REITs1.04%
Cash & Equivalents0.34%

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

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
HDFC Balanced Advantage Fund HDFC · Dynamic Asset Allocation or Balanced Advantage	54.5% of 73% equity	★★★★☆	0.78%	+9.94%
HDFC Multi Asset Allocation Fund HDFC · Multi Asset Allocation	52.5% of 67% equity	★★★☆☆	0.99%	+11.04%
Bandhan Nifty 100 Index Fund Bandhan · Index Funds	51.6%	★★★☆☆	0.18%	+7.26%
Nippon India ETF Nifty 100 Nippon India · Other ETFs	51.5%	—	0.51%	+6.90%
Axis Nifty 100 Index Fund Axis · Index Funds	51.5%	★★★☆☆	0.26%	+7.18%
HDFC NIFTY 100 Index Fund HDFC · Index Funds	51.5%	★★☆☆☆	0.35%	+7.05%
Zerodha Nifty 100 ETF Zerodha · Other ETFs	51.5%	—	0.28%	—
Parag Parikh Large Cap Fund PPFAS · Large Cap Fund	51.4%	—	0.32%	—

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)

4 holdings — 2.45% 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.

Sterlite Technologies LimitedLong-term · Stage IV1.56%
Whirlpool of India LimitedShort-term · Stage I0.38%
Rubicon Research LimitedLong-term · Stage I0.26%
STL Networks LimitedLong-term · Stage I0.25%

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.

-27.9%27 Sep 2024 → 31 Mar 2026
Still below that high — 1.5 years down, and no recovery yet.
-21.4%17 Jan 2022 → 20 Jun 2022
Fell over 5 months, back to the old high on 04 May 2023 — 10 months under water after the low.
-8.6%18 Oct 2021 → 20 Dec 2021
Fell over 2 months, back to the old high on 13 Jan 2022 — 24 days 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

₹5,632Cr

April - June 2026

-3%

since January - March 2026

+₹369.06Cr

est. net flow, last quarter

At or near its largest, ₹5,781Cr 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

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 (2)

All schemes Gopal Agrawal runs →

GAGopal AgrawalManaging since 01 Sep 2026

Education

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

Experience

Funds managed (2)

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 Gopal Agrawal Bhagyesh Kagalkar

Top holdings

ICICI Bank Ltd.HDFC Bank Ltd.Axis Bank Ltd.Larsen and Toubro Ltd.Bharti Airtel Ltd.Maruti Suzuki India Limited Kotak Mahindra Bank Limited Reliance Industries Ltd.Tech Mahindra Ltd.Sun Pharmaceutical Industries Ltd.Bajaj Auto Limited State Bank of India

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 Dividend Yield funds

Dividend yield funds favour companies that pay consistent, above-average dividends. They tend to tilt toward established, cash-generative businesses.

Frequently asked questions

What is the NAV of HDFC Dividend Yield Fund?

As of 01 Oct 2026, the NAV of HDFC Dividend Yield Fund is ₹20.78 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has HDFC Dividend Yield Fund delivered?

HDFC Dividend Yield Fund has returned -9.36% over 1 year, +4.60% per year over 3 years, +7.88% per year over 5 years and +13.47% 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 Dividend Yield Fund?

HDFC Dividend Yield Fund charges an expense ratio of 0.87% 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 Dividend Yield Fund?

HDFC Dividend Yield Fund's largest holdings are ICICI Bank Ltd. (5.6%), HDFC Bank Ltd. (4.8%), Axis Bank Ltd. (3.7%), Larsen and Toubro Ltd. (2.7%) and Bharti Airtel Ltd. (2.5%). Holdings are disclosed monthly and change over time.

How risky is HDFC Dividend Yield Fund?

HDFC Dividend Yield Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 15.5% and its worst peak-to-trough fall in our sample was -27.9%. 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 -0.12 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. HDFC Dividend Yield Fund's -0.12 means it has not compensated investors for its volatility over the window. Higher is better.

What is the benchmark of HDFC Dividend Yield Fund?

HDFC Dividend Yield 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 Dividend Yield Fund?

HDFC Dividend Yield Fund is managed by Gopal Agrawal, Gopal Agrawal and Bhagyesh Kagalkar at HDFC.

How is HDFC Dividend Yield Fund taxed?

HDFC Dividend Yield 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.