HDFC Innovation Fund
Thematic-InnovationVery HighOPEN-ENDED
- NAV as on 9 Nov 2026
- ₹11.99+1.21%1 day
- Return since launch
- 13.7%
- 52-week range
- ₹9.17 — ₹12.02
- AUM
- ₹3,152 Cr
HDFC Innovation Fund is a Thematic-Innovation equity fund from HDFC Mutual Fund with ₹3,152 Cr under management, launched in 2025. The expense ratio is 2.09% and the SEBI riskometer reading is Very High.
Performance
HDFC Innovation Fund NAV and returns
Growth of the fund against its category average over the period you pick.
Over 1Y this fund returned +14.6% against +6.6% for its category.
Performance
Returns
How the fund has done against its category and its benchmark.
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1Y | 24.5% | +17.0 pts | 7.5% | 13.5% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | 2.2% | +0.8 pts | 1.4% | 3.4% |
| 3M | 1.3% | +2.1 pts | -0.8% | -1.7% |
| 6M | 12.9% | +4.9 pts | 8.0% | 7.6% |
| 1Y | 14.6% | +7.1 pts | 7.5% | 6.3% |
Since launch (27 Jun 2025): 13.7%
Returns over one year are annualised. Shorter periods are absolute.
Costs & terms
Costs and terms
What the fund charges each year, and the rules around putting money in and taking it out.
Costs
2.08%
Expense ratio as on 4 Nov 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 1.66%
- Brokerage
- 0.03%
- Transaction charges
- 0.01%
- Statutory levies
- 0.38%
- Exit load
- Exit load of 1%, if redeemed within 1 month.
- Lock-in
- None
Terms
- Min SIP
- ₹3,000
- Min lumpsum
- ₹5,000
- Plan
- GROWTH
- Fund type
- OPEN-ENDED
- Benchmark
- NIFTY 500 TRI
- Short-term capital gains
- Returns taxed at 20% if you redeem before 1 year
- Long-term capital gains
- After 1 year, returns above ₹1.25 lakh in a financial year are taxed at 12.5%
Risk
Risk
What the riskometer means for this fund, and how its ratios sit against the category.
Very High
Your principal is treated as being at very high risk — typically small cap, sectoral and thematic equity schemes.
Portfolio
HDFC Innovation Fund portfolio
Portfolio as of 30 Sep 2026
Asset allocation
- Equity94.5%
- Other5.5%
Market cap split
- Large47.1%
- Mid23.5%
- Small29.4%
- P/E
- 47.55
- P/B
- 6.13
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| Eternal Ltd. | Services | 9.19% | ₹290 Cr | +8.97% | +9.09% | +9.89% |
| Others | Others | 5.46% | ₹172 Cr | -0.22% | -0.56% | -0.34% |
| Bajaj Finance Ltd. | Financial | 4.02% | ₹127 Cr | +4.80% | +4.49% | +5.47% |
| Divi's Laboratories Ltd. | Healthcare | 3.32% | ₹105 Cr | +3.78% | +4.38% | +3.48% |
| Rubicon Research Ltd. | Healthcare | 3.21% | ₹101 Cr | +2.50% | +1.61% | — |
| Bharat Electronics Ltd. | Capital Goods | 3.12% | ₹98.20 Cr | +3.77% | +4.30% | +3.89% |
| Mahindra & Mahindra Ltd. | Automobile | 3.10% | ₹97.73 Cr | +3.68% | +3.53% | +3.87% |
| Hindustan Aeronautics Ltd. | Capital Goods | 2.72% | ₹85.88 Cr | +2.92% | +2.37% | +2.93% |
| Sun Pharmaceutical Industries Ltd. | Healthcare | 2.54% | ₹80.14 Cr | +2.98% | +2.82% | +2.61% |
| Lenskart Solutions Ltd. | Consumer Discretionary | 2.52% | ₹79.35 Cr | +3.24% | +2.64% | — |
| PB Fintech Ltd. | Services | 2.41% | ₹76.11 Cr | +3.93% | +4.46% | +4.44% |
| Info Edge (India) Ltd. | Services | 2.34% | ₹73.67 Cr | +2.14% | +2.89% | +3.55% |
| Navin Fluorine International Ltd. | Chemicals | 2.30% | ₹72.54 Cr | +2.45% | +2.30% | +2.23% |
| Torrent Pharmaceuticals Ltd. | Healthcare | 2.25% | ₹70.84 Cr | +2.64% | +2.82% | +2.19% |
| GE Vernova T&D India Ltd | Capital Goods | 2.12% | ₹66.97 Cr | +2.86% | +2.08% | +1.53% |
| Tata Power Company Ltd. | Energy | 1.65% | ₹51.88 Cr | +2.02% | +2.56% | +2.39% |
| Reliance Industries Ltd. | Energy | 1.62% | ₹51.04 Cr | +4.12% | +3.59% | +3.31% |
| Netweb Technologies India Ltd. | Technology | 1.51% | ₹47.47 Cr | — | — | — |
| Karamtara Engineering Ltd. | Energy | 1.48% | ₹46.70 Cr | — | — | — |
| Sona BLW Precision Forgings Ltd. | Automobile | 1.46% | ₹45.94 Cr | +1.47% | +1.34% | +0.87% |
| Adani Enterprises Ltd. | Services | 1.44% | ₹45.32 Cr | — | — | — |
| Emmvee Photovoltaic Power Ltd. | Energy | 1.44% | ₹45.49 Cr | +1.79% | +2.13% | — |
| Spectrum Electrical Industries Ltd. | Capital Goods | 1.37% | ₹43.23 Cr | — | — | — |
| SRF Ltd. | Chemicals | 1.33% | ₹42.04 Cr | +1.72% | +1.80% | +1.89% |
| ICICI Prudential Asset Management Company Ltd. | Financial | 1.30% | ₹40.84 Cr | +0.58% | — | — |
| JSW Energy Ltd. | Capital Goods | 1.23% | ₹38.66 Cr | +1.65% | +1.56% | +1.60% |
| Thyrocare Technologies Ltd. | Healthcare | 1.14% | ₹35.93 Cr | +1.41% | +1.05% | — |
| Sai Life Sciences Ltd. | Healthcare | 1.13% | ₹35.55 Cr | +1.40% | +1.70% | +1.63% |
| Amagi Media Labs Ltd. | Technology | 1.08% | ₹34.09 Cr | +1.26% | +0.86% | — |
| Samvardhana Motherson International Ltd. | Automobile | 1.08% | ₹33.98 Cr | +1.60% | +1.20% | +1.10% |
| Billionbrains Garage Ventures Ltd. | Financial | 1.06% | ₹33.32 Cr | +1.08% | — | — |
| Biocon Ltd. | Healthcare | 1.02% | ₹32.11 Cr | +0.76% | — | — |
| Ather Energy Ltd. | Automobile | 1.00% | ₹31.63 Cr | — | — | — |
| Laurus Labs Ltd. | Healthcare | 0.98% | ₹30.96 Cr | +1.63% | +2.10% | +2.26% |
| INDO-MIM Ltd. | Capital Goods | 0.95% | ₹30.08 Cr | — | — | — |
| SEDEMAC Mechatronics Ltd. | Capital Goods | 0.93% | ₹29.21 Cr | +0.94% | +0.73% | — |
| Lupin Ltd. | Healthcare | 0.91% | ₹28.60 Cr | +1.23% | +1.38% | +1.77% |
| Godrej Consumer Products Ltd. | Consumer Staples | 0.90% | ₹28.31 Cr | +1.22% | +1.39% | +1.50% |
| ABB India Ltd. | Capital Goods | 0.85% | ₹26.90 Cr | +1.01% | +1.51% | +1.44% |
| Bharat Forge Ltd. | Automobile | 0.85% | ₹26.79 Cr | +1.86% | +1.00% | +0.65% |
| Cummins India Ltd. | Capital Goods | 0.81% | ₹25.54 Cr | +1.78% | +2.06% | +2.36% |
| Diamond Power Infrastructure Ltd. | Capital Goods | 0.78% | ₹24.64 Cr | — | — | — |
| Coforge Ltd. | Technology | 0.77% | ₹24.31 Cr | +1.67% | +1.49% | +1.96% |
| OnEMI Technology Solutions Ltd. | Financial | 0.77% | ₹24.27 Cr | +0.84% | — | — |
| Saatvik Green Energy Ltd. | Energy | 0.71% | ₹22.53 Cr | +0.92% | +0.87% | +0.92% |
| ideaForge Technology Ltd. | Capital Goods | 0.69% | ₹21.84 Cr | — | — | — |
| 3M India Ltd. | Consumer Staples | 0.68% | ₹21.55 Cr | +0.80% | +0.86% | +0.76% |
| Siemens Ltd. | Capital Goods | 0.68% | ₹21.50 Cr | +0.75% | +1.13% | +1.34% |
| Hindustan Unilever Ltd. | Consumer Staples | 0.64% | ₹20.29 Cr | +0.83% | +0.94% | +1.05% |
| Aequs Ltd. | Technology | 0.63% | ₹19.75 Cr | +0.60% | +0.40% | — |
| Interglobe Aviation Ltd. | Services | 0.63% | ₹19.77 Cr | +0.77% | +0.62% | +0.79% |
| Moneyview Ltd. | Financial | 0.63% | ₹20.00 Cr | — | — | — |
| Persistent Systems Ltd. | Technology | 0.63% | ₹19.79 Cr | +1.01% | +1.33% | +0.92% |
| Zydus Lifesciences Ltd. | Healthcare | 0.59% | ₹18.59 Cr | +0.28% | — | — |
| Tenneco Clean Air India Ltd | Automobile | 0.58% | ₹18.44 Cr | +0.35% | +0.46% | — |
| Le Travenues Technology Ltd. | Services | 0.57% | ₹18.05 Cr | +0.79% | +0.82% | +1.12% |
| Neuland Laboratories Ltd. | Healthcare | 0.56% | ₹17.73 Cr | +0.56% | +0.04% | — |
| SBI Life Insurance Company Ltd. | Insurance | 0.54% | ₹16.96 Cr | — | — | — |
| Dhoot Transmission Ltd. | Capital Goods | 0.52% | ₹16.41 Cr | — | — | — |
| Mphasis Ltd. | Technology | 0.52% | ₹16.25 Cr | +0.59% | +0.66% | — |
| Urban Company Ltd. | Consumer Staples | 0.51% | ₹16.23 Cr | +0.51% | +0.65% | +1.15% |
| Hexaware Technologies Ltd. | Technology | 0.49% | ₹15.37 Cr | +0.58% | +0.56% | +0.80% |
| Torrent Power Ltd. | Energy | 0.47% | ₹14.95 Cr | +0.62% | +0.67% | +0.56% |
| Infosys Ltd. | Technology | 0.46% | ₹14.47 Cr | +0.53% | +0.77% | +0.83% |
| Sudeep Pharma Ltd. | Healthcare | 0.46% | ₹14.41 Cr | +0.36% | +0.30% | — |
| Molbio Diagnostics Ltd. | Healthcare | 0.45% | ₹14.19 Cr | — | — | — |
| TBO Tek Ltd. | Services | 0.44% | ₹13.98 Cr | +0.43% | +0.37% | +0.49% |
| Kaynes Technology India Ltd. | Capital Goods | 0.40% | ₹12.60 Cr | +0.41% | +0.52% | +0.98% |
| Sonata Software Ltd. | Technology | 0.40% | ₹12.55 Cr | +0.47% | +0.43% | +0.65% |
| Tempsens Instruments (India) Ltd. | Capital Goods | 0.35% | ₹10.95 Cr | — | — | — |
| Hyundai Motor India Ltd. | Automobile | 0.33% | ₹10.37 Cr | +0.35% | +0.39% | +1.95% |
| Rentomojo Ltd. | Services | 0.32% | ₹10.11 Cr | — | — | — |
| WeWork India Management Ltd. | Services | 0.31% | ₹9.80 Cr | +0.37% | +0.29% | — |
| Atlanta Electricals Ltd. | Capital Goods | 0.29% | ₹9.23 Cr | +0.38% | +0.39% | +0.24% |
| Brainbees Solutions Ltd. | Consumer Discretionary | 0.29% | ₹9.00 Cr | +0.40% | +0.44% | +0.70% |
| Shiprocket Ltd. | Technology | 0.24% | ₹7.45 Cr | — | — | — |
| Lumino Industries Ltd. | Capital Goods | 0.21% | ₹6.74 Cr | — | — | — |
| SBI Funds Management Ltd. | Financial | 0.17% | ₹5.22 Cr | — | — | — |
| One 97 Communications Ltd. | Services | 0.14% | ₹4.51 Cr | — | — | +0.08% |
| Kwality Wall's (India) Ltd. | Consumer Staples | 0.01% | ₹0.42 Cr | +0.01% | +0.01% | — |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| Karamtara Engineering Ltd. | 0.00% | 1.48% | +1.48% |
| Spectrum Electrical Industries Ltd. | 0.00% | 1.37% | +1.37% |
| Anthem Biosciences Ltd. | 0.94% | 0.00% | -0.94% |
| PB Fintech Ltd. | 3.32% | 2.41% | -0.91% |
| Divi's Laboratories Ltd. | 4.08% | 3.32% | -0.76% |
| Coforge Ltd. | 1.49% | 0.77% | -0.72% |
| Others | -0.19% | 0.50% | +0.69% |
| Moneyview Ltd. | 0.00% | 0.63% | +0.63% |
| Reliance Industries Ltd. | 2.16% | 1.62% | -0.54% |
| Eternal Ltd. | 9.63% | 9.19% | -0.44% |
| Ather Energy Ltd. | 0.60% | 1.00% | +0.40% |
| Bajaj Finance Ltd. | 4.38% | 4.02% | -0.36% |
| Rubicon Research Ltd. | 3.57% | 3.21% | -0.36% |
| Rentomojo Ltd. | 0.00% | 0.32% | +0.32% |
| Mahindra & Mahindra Ltd. | 3.41% | 3.10% | -0.31% |
| One 97 Communications Ltd. | 0.44% | 0.14% | -0.30% |
| Sun Pharmaceutical Industries Ltd. | 2.75% | 2.54% | -0.21% |
| Lenskart Solutions Ltd. | 2.72% | 2.52% | -0.20% |
| Netweb Technologies India Ltd. | 1.70% | 1.51% | -0.19% |
| Sai Life Sciences Ltd. | 1.30% | 1.13% | -0.17% |
| Bharat Electronics Ltd. | 3.29% | 3.12% | -0.17% |
| Info Edge (India) Ltd. | 2.49% | 2.34% | -0.15% |
| Thyrocare Technologies Ltd. | 1.28% | 1.14% | -0.14% |
| INDO-MIM Ltd. | 0.82% | 0.95% | +0.13% |
| Biocon Ltd. | 1.12% | 1.02% | -0.10% |
| GE Vernova T&D India Ltd | 2.22% | 2.12% | -0.10% |
| ABB India Ltd. | 0.95% | 0.85% | -0.10% |
| Navin Fluorine International Ltd. | 2.39% | 2.30% | -0.09% |
| Aequs Ltd. | 0.54% | 0.63% | +0.09% |
| Torrent Pharmaceuticals Ltd. | 2.34% | 2.25% | -0.09% |
| Molbio Diagnostics Ltd. | 0.37% | 0.45% | +0.08% |
| Tata Power Company Ltd. | 1.57% | 1.65% | +0.08% |
| Bharat Forge Ltd. | 0.92% | 0.85% | -0.07% |
| OnEMI Technology Solutions Ltd. | 0.70% | 0.77% | +0.07% |
| SEDEMAC Mechatronics Ltd. | 0.87% | 0.93% | +0.06% |
| Infosys Ltd. | 0.52% | 0.46% | -0.06% |
| Lupin Ltd. | 0.97% | 0.91% | -0.06% |
| SRF Ltd. | 1.39% | 1.33% | -0.06% |
| Hexaware Technologies Ltd. | 0.54% | 0.49% | -0.05% |
| ICICI Prudential Asset Management Company Ltd. | 1.25% | 1.30% | +0.05% |
| JSW Energy Ltd. | 1.28% | 1.23% | -0.05% |
| Sona BLW Precision Forgings Ltd. | 1.41% | 1.46% | +0.05% |
| Urban Company Ltd. | 0.56% | 0.51% | -0.05% |
| ideaForge Technology Ltd. | 0.74% | 0.69% | -0.05% |
| Cummins India Ltd. | 0.86% | 0.81% | -0.05% |
| Mphasis Ltd. | 0.57% | 0.52% | -0.05% |
| Siemens Ltd. | 0.73% | 0.68% | -0.05% |
| Hindustan Aeronautics Ltd. | 2.77% | 2.72% | -0.05% |
| Adani Enterprises Ltd. | 1.40% | 1.44% | +0.04% |
| Atlanta Electricals Ltd. | 0.33% | 0.29% | -0.04% |
| Laurus Labs Ltd. | 0.94% | 0.98% | +0.04% |
| Lumino Industries Ltd. | 0.17% | 0.21% | +0.04% |
| Sonata Software Ltd. | 0.44% | 0.40% | -0.04% |
| Godrej Consumer Products Ltd. | 0.94% | 0.90% | -0.04% |
| Neuland Laboratories Ltd. | 0.60% | 0.56% | -0.04% |
| Billionbrains Garage Ventures Ltd. | 1.09% | 1.06% | -0.03% |
| Hindustan Unilever Ltd. | 0.67% | 0.64% | -0.03% |
| Persistent Systems Ltd. | 0.66% | 0.63% | -0.03% |
| Samvardhana Motherson International Ltd. | 1.11% | 1.08% | -0.03% |
| Shiprocket Ltd. | 0.27% | 0.24% | -0.03% |
| Amagi Media Labs Ltd. | 1.10% | 1.08% | -0.02% |
| Diamond Power Infrastructure Ltd. | 0.76% | 0.78% | +0.02% |
| Interglobe Aviation Ltd. | 0.65% | 0.63% | -0.02% |
| Tempsens Instruments (India) Ltd. | 0.37% | 0.35% | -0.02% |
| Tenneco Clean Air India Ltd | 0.60% | 0.58% | -0.02% |
| Hyundai Motor India Ltd. | 0.35% | 0.33% | -0.02% |
| Kaynes Technology India Ltd. | 0.42% | 0.40% | -0.02% |
| 3M India Ltd. | 0.70% | 0.68% | -0.02% |
| Dhoot Transmission Ltd. | 0.51% | 0.52% | +0.01% |
| Emmvee Photovoltaic Power Ltd. | 1.45% | 1.44% | -0.01% |
| SBI Life Insurance Company Ltd. | 0.55% | 0.54% | -0.01% |
| Sudeep Pharma Ltd. | 0.45% | 0.46% | +0.01% |
| TBO Tek Ltd. | 0.45% | 0.44% | -0.01% |
| WeWork India Management Ltd. | 0.32% | 0.31% | -0.01% |
| Zydus Lifesciences Ltd. | 0.58% | 0.59% | +0.01% |
| Kwality Wall's (India) Ltd. | 0.02% | 0.01% | -0.01% |
| SBI Funds Management Ltd. | 0.18% | 0.17% | -0.01% |
| Torrent Power Ltd. | 0.46% | 0.47% | +0.01% |
| Brainbees Solutions Ltd. | 0.29% | 0.29% | 0.00% |
| Le Travenues Technology Ltd. | 0.57% | 0.57% | 0.00% |
| Saatvik Green Energy Ltd. | 0.71% | 0.71% | 0.00% |
Compare
Similar funds
The rest of the category, so this fund’s numbers have something to sit against.
| Fund | AUM | Expense | 1Y | 3Y | 5Y |
|---|---|---|---|---|---|
| Category average | ₹3,484 Cr | 2.15% | 13.0% | 10.3% | 15.0% |
 ICICI Prudential Innovation Fund | ₹7,549 Cr | 2.16% | 4.4% | 7.6% | — |
 Kotak Pioneer Fund | ₹4,295 Cr | 1.90% | 11.9% | 11.7% | 15.7% |
 Nippon India Innovation Fund | ₹2,923 Cr | 2.10% | 4.8% | 5.4% | — |
 Axis Innovation Fund | ₹1,345 Cr | 2.27% | 21.9% | 13.3% | 14.3% |
 Union Innovation & Opportunities Fund | ₹1,307 Cr | 2.31% | 22.2% | 13.6% | — |
About
About this fund
The scheme’s own words, its benchmark and the people running it.
Investment objective
The scheme seeks to generate long-term capital appreciation / income by investing in companies that are adopting innovative themes and strategies. There is no assurance that the investment objective of the scheme will be achieved.
Fund managers
- Amit SinhaMr. Sinha has done B.Tech (IIT Roorkee) and PGDBM (XLRI, Jamshedpur)Prior to joining HDFC Mutual Fund, he has worked Macquarie Capital Securities (India) Pvt. Ltd.
Tools
Return calculator
What ₹10,000 a month in this fund would have grown to over each period, based on its past returns.
₹
| Over the past | Total investment | Would’ve become | Growth | Returns |
|---|---|---|---|---|
| 6 months15.64% absolute | ₹60,000 | ₹69,384 | 15.64% | |
| 1 year15.42% annualised | ₹1,20,000 | ₹1,30,511 | 8.76% |
Returns for 1 year and longer are annualised (CAGR); 6-month figures are absolute. Past returns are not a forecast.
How this is calculated
Each monthly instalment grows at the fund’s annualised return ÷ 12 per month until the end of the period, the same formula as our SIP calculator.
The amount compounds once a year at the fund’s CAGR for that period, the same formula as our lumpsum calculator.
Questions
Frequently asked questions
The things people ask about this scheme.
What is the NAV of HDFC Innovation Fund?
The NAV of HDFC Innovation Fund is ₹11.99 as on 9 Nov 2026.
What is the expense ratio of HDFC Innovation Fund?
The expense ratio of HDFC Innovation Fund is 2.09% per year.
What is the minimum SIP amount for HDFC Innovation Fund?
You can start a SIP in HDFC Innovation Fund with ₹3,000 a month.
Is there a lock-in or exit load on HDFC Innovation Fund?
Lock-in: None. Exit load: Exit load of 1%, if redeemed within 1 month..
How risky is HDFC Innovation Fund?
HDFC Innovation Fund is rated Very High on the SEBI riskometer and belongs to the Thematic-Innovation category.
Which fund house manages HDFC Innovation Fund?
HDFC Innovation Fund is managed by HDFC Mutual Fund, which runs 86 schemes with ₹9,96,954 Cr under management.