EquitySectoral/ ThematicDirectGrowthVery High

HDFC Banking & Financial Services Fund

Q: What is the NAV of HDFC Banking & Financial Services Fund?

As of 01 Oct 2026, the NAV of HDFC Banking & Financial Services Fund is ₹18.16 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has HDFC Banking & Financial Services Fund delivered?

HDFC Banking & Financial Services Fund has returned +1.42% over 1 year, +11.00% per year over 3 years, +11.29% per year over 5 years and +12.22% 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 & Financial Services Fund?

HDFC Banking & Financial Services Fund charges an expense ratio of 0.98% 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 & Financial Services Fund?

HDFC Banking & Financial Services Fund's largest holdings are ICICI Bank Ltd. (14.4%), HDFC Bank Ltd. (12.2%), Kotak Mahindra Bank Limited (8.2%), Axis Bank Ltd. (7.8%) and State Bank of India (6.3%). Holdings are disclosed monthly and change over time.

Q: How risky is HDFC Banking & Financial Services Fund?

HDFC Banking & Financial Services Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 15.9% and its worst peak-to-trough fall in our sample was -21.7%. 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 0.28 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. HDFC Banking & Financial Services Fund's 0.28 means it has rewarded its volatility with excess return. Higher is better.

Q: What is the benchmark of HDFC Banking & Financial Services Fund?

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

Q: Who manages HDFC Banking & Financial Services Fund?

HDFC Banking & Financial Services Fund is managed by Anand Laddha, Gopal Agrawal and Bhagyesh Kagalkar at HDFC.

Q: How is HDFC Banking & Financial Services Fund taxed?

HDFC Banking & Financial Services 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 Sectoral & Thematic Mutual Funds

NAV

₹18.16

-0.58% 1D

as of 01 Oct 2026

This is the Direct plan of HDFC Banking & Financial Services Fund — bought from the fund house, with no distributor commission in its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.

Compare SIP calculator

Performance

+2.86%CAGR

52-week rangePrev NAV ₹18.27

Latest ₹18.16

Low ₹16.4850th percentile of its 52-week rangeHigh ₹19.87

Scorecard

★★★☆☆3/5 vs 142 of 255 Sectoral/ Thematic 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 Sectoral/ Thematic (same plan and option). 142 of the 255 Sectoral/ Thematic funds in this cohort carry the full record the stars need, so they are the ones ranked against.

PerformanceAverage

3Y CAGR +11.00% · ranks 87 of 142 Sectoral/ Thematic funds

RiskModerate

Volatility 15.9% vs 15.7% category avg

CostLow

1.0% expense vs 1.3% category avg

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

Low expense ratio (0.98%) vs the Sectoral/ Thematic average of 1.27%
Consistent — positive in 100% of rolling 3-year windows

Concerns

Trails the Sectoral/ Thematic average on 1M/3M/6M/1Y — 1Y by 2.10pp
3-year return (+11.00%) trails the Sectoral/ Thematic average (+13.47%)
5-year return (+11.29%) trails the Sectoral/ Thematic average (+12.27%)
Weaker risk-adjusted returns — Sharpe 0.28 below the Sectoral/ Thematic average of 0.42

Key Metrics

Annual fee charged by the fund, already deducted from NAV

0.98%

Category 1.27%▼0.29%

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

16.33

Category 28.71▼12.38

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

0.28

Category 0.42▼0.14

Scheme Info

Definitions

Plan

Direct · 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% is payable if units are redeemed/switched out within 30 days from the date of allotment. No Exit Load is payable if units are redeemed/switched-out after 30 days 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 Financial Services 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.

01 Jul 2021

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

Definitions

Absolute return over the last 1 month (not annualized)

-5.64%

Absolute return over the last 3 months (not annualized)

-6.80%

Absolute return over the last 6 months (not annualized)

+7.90%

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

-5.85%

Annualized returns (≥1Y — CAGR)

Definitions

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

+1.42%

3-year annualized return (CAGR)

+11.00%

5-year annualized return (CAGR)

+11.29%

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.

+12.22%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

15.94%

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

0.28

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

0.39

Largest peak-to-trough decline over full history

-21.72%

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

Definitions

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

3.06%

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

0.94

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

92.7%

Excess return per unit of beta (market risk)

5.01

Active return over the benchmark per unit of tracking error

0.70

Annualized std dev of fund-minus-benchmark returns

4.62%

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

100.1%

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

83.9%

Computed vs the Nifty Bank 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 (Sectoral/ Thematic)

Period	Fund	Category avg.	Diff
1M abs	-5.64%	-5.04%	-0.60%
3M abs	-6.80%	-2.04%	-4.76%
6M abs	+7.90%	+11.48%	-3.58%
1Y CAGR	+1.42%	+3.52%	-2.10%
3Y CAGR	+11.00%	+13.47%	-2.47%
5Y CAGR	+11.29%	+12.27%	-0.98%

Category average across peers in Sectoral/ Thematic (254 of 255 carry a figure for at least one period), 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 255 peers in Sectoral/ Thematic

1Y return

+1.42%

Beats 50.9% · rank #113

3Y return

+11.00%

Beats 39% · rank #87

5Y return

+11.29%

Beats 42.6% · rank #59

Sharpe

0.28

Beats 37.6% · rank #88

Sortino

0.39

Beats 39% · rank #87

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

₹7.80L

Absolute

+29.96%

XIRR

+10.75%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into HDFC Banking & Financial Services 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 Bank TRI	Diff
2026part	-5.85%	-7.52%	+1.67%
2025	+18.13%	+18.31%	-0.18%
2024	+11.28%	+6.24%	+5.04%
2023	+23.24%	+13.20%	+10.04%
2022	+16.99%	+21.83%	-4.84%
2021part	+2.68%	—	—

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

1,294

Expense ratio

0.98%

AUM

₹4,394Cr

Portfolio turnover

32%

Exit load

P/E ratio

16.3

P/B ratio

2.7

Avg market cap

₹4,61,177Cr

P/E & P/B are portfolio-weighted harmonic means across 24 of 38 equity holdings (76% 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 · Sectoral/ Thematic

Compare all


HDFC Banking & Financial Services FundThis fund HDFC · Direct · Growth	★★★☆☆	+1.42%	+11.00%	+11.29%	16.33	0.98%	—
Nippon India Taiwan Equity Fund Nippon India · Direct · Growth	★★★★☆	+121.55%	+62.66%	—	—	1.06%	₹1,110Cr
HDFC Defence Fund HDFC · Direct · Growth	★★★★☆	+22.63%	+36.08%	—	57.58	0.89%	₹9,371Cr
HDFC Pharma and Healthcare Fund HDFC · Direct · Growth	★★★★★	+26.61%	+30.26%	—	44.10	1.03%	₹2,282Cr
Franklin Asian Equity Fund Franklin Templeton · Direct · Growth	★★★☆☆	+33.39%	+23.96%	+9.46%	26.07	1.21%	₹720.84Cr
Nippon India Japan Equity Fund Nippon India · Direct · Growth	★★★☆☆	+30.60%	+23.24%	+11.59%	—	1.37%	₹330.20Cr

Market-cap allocation · AMFI bands, Jul 2026

Equity holdings by company size — 99% of the equity sleeve priced.

Large cap69.0%
Mid cap13.1%
Small cap17.9%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity99.64%
Cash & Equivalents0.36%

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

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
Aditya Birla Sun Life Banking and Financial Services Fund Aditya Birla Sun Life · Sectoral/ Thematic	69.0%	★★☆☆☆	1.15%	+8.24%
Edelweiss Financial Services Fund Edelweiss · Sectoral/ Thematic	67.2%	—	0.98%	—
UTI - Banking and Financial Services Fund UTI · Sectoral/ Thematic	66.3%	★★☆☆☆	1.44%	+11.62%
Tata Banking & Financial Services Fund Tata · Sectoral/ Thematic	65.9%	★★★☆☆	0.93%	+10.02%
ICICI Prudential Banking & Financial Services Fund ICICI Prudential · Sectoral/ Thematic	64.8%	★★★☆☆	1.25%	+8.68%
Tata Nifty Financial Services Index Fund Tata · Index Funds	63.7%	★☆☆☆☆	0.58%	—
MahindraManulife Banking & Financial Services Fund Mahindra Manulife · Sectoral/ Thematic	63.0%	★★★☆☆	1.13%	—
Mirae Asset Banking and Financial Services Fund Mirae Asset · Sectoral/ Thematic	62.8%	★★★☆☆	0.77%	+11.14%

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)

1 holding — 1.27% 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 I1.27%

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.

-21.7%26 Oct 2021 → 16 Jun 2022
Fell over 8 months, back to the old high on 11 Nov 2022 — 5 months under water after the low.
-17.1%18 Feb 2026 → 30 Mar 2026
Still below that high — 40 days down, and no recovery yet.
-13.9%23 Sep 2024 → 13 Mar 2025
Fell over 6 months, back to the old high on 22 Apr 2025 — 40 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.

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

ALAnand LaddhaManaging since 01 Jul 2021

Education

• B.Com., • Chartered Accountant, ICAI

Experience

Collectively over 22 years experience in Equity & Derivative Research and Sales • February 2006 till Date: HDFC Asset Management Company Limited

Funds managed (1)

HDFC Value Fund

All schemes Anand Laddha 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 →

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

Anand Laddha Gopal Agrawal Bhagyesh Kagalkar

Top holdings

ICICI Bank Ltd.HDFC Bank Ltd.Kotak Mahindra Bank Limited Axis Bank Ltd.State Bank of India Shriram Finance Ltd.Bajaj Finance Ltd.SBI Life Insurance Company Ltd.Five-Star Business Finance Limited Au Small Finance Bank Ltd.Karur Vysya Bank Ltd.ICICI Lombard General Insurance Co

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 Sectoral & Thematic funds

Sectoral and thematic funds must keep at least 80% in the equity of one sector (banking, pharma, technology) or one theme (consumption, manufacturing, ESG). That concentration is the point and the risk: with no mandate to diversify away from the sector, the fund rises and falls with it.

Frequently asked questions

What is the NAV of HDFC Banking & Financial Services Fund?

As of 01 Oct 2026, the NAV of HDFC Banking & Financial Services Fund is ₹18.16 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has HDFC Banking & Financial Services Fund delivered?

HDFC Banking & Financial Services Fund has returned +1.42% over 1 year, +11.00% per year over 3 years, +11.29% per year over 5 years and +12.22% 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 & Financial Services Fund?

HDFC Banking & Financial Services Fund charges an expense ratio of 0.98% 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 & Financial Services Fund?

HDFC Banking & Financial Services Fund's largest holdings are ICICI Bank Ltd. (14.4%), HDFC Bank Ltd. (12.2%), Kotak Mahindra Bank Limited (8.2%), Axis Bank Ltd. (7.8%) and State Bank of India (6.3%). Holdings are disclosed monthly and change over time.

How risky is HDFC Banking & Financial Services Fund?

HDFC Banking & Financial Services Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 15.9% and its worst peak-to-trough fall in our sample was -21.7%. 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 0.28 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. HDFC Banking & Financial Services Fund's 0.28 means it has rewarded its volatility with excess return. Higher is better.

What is the benchmark of HDFC Banking & Financial Services Fund?

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

Who manages HDFC Banking & Financial Services Fund?

HDFC Banking & Financial Services Fund is managed by Anand Laddha, Gopal Agrawal and Bhagyesh Kagalkar at HDFC.

How is HDFC Banking & Financial Services Fund taxed?

HDFC Banking & Financial Services 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.