HDFC Liquid Fund
LiquidLow to ModerateOPEN-ENDED
- NAV as on 2 Oct 2026
- ₹5,529.99+0.04%1 day
- Return since launch
- 6.8%
- 52-week range
- ₹5,191.64 — ₹5,522.78
- AUM
- ₹71,323 Cr
HDFC Liquid Fund is a Liquid debt fund from HDFC Mutual Fund with ₹71,323 Cr under management, launched in 2000. Over three years it has returned 6.6% a year, against 6.8% for its category. The expense ratio is 0.30% and the SEBI riskometer reading is Low to Moderate.
Performance
HDFC Liquid Fund NAV and returns
Growth of the fund against its category average over the period you pick.
Over 1Y this fund returned +6.3% against +6.2% for its category.
Performance
Returns
How the fund has done against its category and its benchmark.
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1Y | 6.5% | +0.2 pts | 6.3% | 6.4% |
| 2Y | 6.5% | +0.1 pts | 6.4% | 6.3% |
| 3Y | 6.6% | −0.1 pts | 6.8% | 6.5% |
| 5Y | 6.6% | +0.4 pts | 6.2% | 6.5% |
| 7Y | 6.2% | 0.0 pts | 6.1% | 6.1% |
| 10Y | 6.0% | 0.0 pts | 6.0% | 5.9% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | 0.5% | 0.0 pts | 0.5% | 0.5% |
| 3M | 1.5% | 0.0 pts | 1.5% | 1.5% |
| 6M | 3.2% | 0.0 pts | 3.2% | 3.1% |
| 1Y | 6.4% | +0.1 pts | 6.3% | 6.3% |
| 2Y | 6.6% | +0.1 pts | 6.5% | 6.5% |
| 3Y | 6.8% | +0.1 pts | 6.8% | 6.7% |
| 5Y | 6.3% | 0.0 pts | 6.2% | 6.2% |
| 7Y | 5.6% | 0.0 pts | 5.5% | 5.5% |
| 10Y | 6.0% | 0.0 pts | 6.0% | 6.0% |
Since launch (17 Oct 2000): 6.8%
Calendar-year returns
Category average4.1%
3.2%
4.8%
7.0%
7.3%
6.5%
Show as a table
| Period | Fund | vs category | Category |
|---|---|---|---|
| 2025 | 6.5% | +0.1 pts | 6.4% |
| 2024 | 7.3% | 0.0 pts | 7.3% |
| 2023 | 7.0% | 0.0 pts | 7.0% |
| 2022 | 4.8% | −0.1 pts | 4.8% |
| 2021 | 3.2% | −0.1 pts | 3.3% |
| 2020 | 4.1% | +0.1 pts | 4.0% |
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
0.30%
Expense ratio as on 24 Sep 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 0.25%
- Brokerage
- 0.00%
- Transaction charges
- 0.00%
- Statutory levies
- 0.05%
- Exit load
- Exit load of 0.0070% if redeemed within 1 day, 0.0065% if redeemed within 2 days, 0.0060% if redeemed within 3 days, 0.0055% if redeemed within 4 days, 0.0050% if redeemed within 5 days, 0.0045% if redeemed within 6 days.
- Lock-in
- None
Terms
- Min SIP
- ₹3,000
- Min lumpsum
- ₹5,000
- Plan
- GROWTH
- Fund type
- OPEN-ENDED
- Benchmark
- CRISIL Liquid Debt A-I Index
Risk
Risk
What the riskometer means for this fund, and how its ratios sit against the category.
Low to Moderate
Your principal is treated as being at low to moderate risk — typically short duration debt schemes.
| Ratio | Fund | Category avg | Read as |
|---|---|---|---|
| Alpha | — | — | Return earned above what the benchmark alone would have given. Higher is better. |
| Beta | — | — | How hard the fund moves when the market moves. Under 1 is steadier than the market. |
| Sharpe | 4.56 | 4.97 | Return earned for each unit of total risk taken. Higher is better. |
| Sortino | 9.62 | 9.82 | Return earned for each unit of downside risk. Higher is better. |
| Std. deviation | 0.21 | 0.20 | How widely monthly returns have varied around their own average. Lower is steadier. |
| Average of 5 category peers | |||
Portfolio
HDFC Liquid Fund portfolio
Portfolio as of 31 Aug 2026
Asset allocation
- Debt98.8%
- Other1.2%
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| GOI | Sovereign | 5.41% | ₹3,856 Cr | — | +1.70% | +0.32% |
| Export-Import Bank Of India | Financial | 2.45% | ₹1,746 Cr | +1.62% | +0.72% | +1.58% |
| Small Industries Devp. Bank of India Ltd. | Financial | 1.75% | ₹1,250 Cr | +5.88% | +2.92% | +2.52% |
| Union Bank of India | Financial | 1.75% | ₹1,246 Cr | +0.72% | +2.50% | +0.79% |
| Others | Others | 1.52% | ₹1,132 Cr | +1.16% | +1.12% | +1.20% |
| Reliance Retail Ventures Ltd. | Services | 1.40% | ₹999 Cr | +1.83% | +0.36% | +0.70% |
| Reserve Bank of India | Financial | 1.39% | ₹993 Cr | +0.15% | +0.44% | +1.57% |
| Bank Of Baroda | Financial | 1.38% | ₹988 Cr | +2.17% | +0.73% | +0.79% |
| company:7079 | Financial | 1.38% | ₹987 Cr | — | — | — |
| Aditya Birla Capital Ltd. | Financial | 1.24% | ₹886 Cr | +0.36% | +0.72% | +0.78% |
| company:3977 | Consumer Discretionary | 1.14% | ₹812 Cr | — | — | +1.54% |
| company:5932 | Consumer Staples | 1.11% | ₹791 Cr | — | +0.80% | +0.39% |
| National Bank For Agriculture & Rural Development | Financial | 1.11% | ₹793 Cr | +2.20% | +0.72% | +4.70% |
| REC Ltd. | Financial | 1.08% | ₹774 Cr | — | +0.14% | — |
| ICICI Bank Ltd. | Financial | 1.05% | ₹748 Cr | — | — | +0.01% |
| L&T Finance Ltd. | Financial | 1.04% | ₹742 Cr | +0.72% | +1.09% | +0.60% |
| Bank of India | Financial | 0.98% | ₹697 Cr | +1.83% | +0.72% | +0.79% |
| HDFC Bank Ltd. | Financial | 0.89% | ₹637 Cr | — | — | +0.32% |
| Kotak Mahindra Securities Ltd. | Financial | 0.83% | ₹592 Cr | +1.08% | +0.58% | +0.39% |
| Poonawalla Fincorp Ltd. | Financial | 0.83% | ₹595 Cr | +0.51% | +0.72% | +0.55% |
| Jamnagar Utilities and Power Pvt. Ltd. | Capital Goods | 0.81% | ₹574 Cr | +0.58% | +0.72% | — |
| ICICI Home Finance Company Ltd. | Financial | 0.73% | ₹520 Cr | +0.88% | — | — |
| Aditya Birla Housing Finance Ltd. | Financial | 0.70% | ₹498 Cr | — | +0.44% | — |
| Development Bank of Singapore | Financial | 0.70% | ₹498 Cr | — | — | — |
| ICICI Securities Ltd. | Financial | 0.70% | ₹499 Cr | +1.44% | +0.73% | +1.17% |
| ICICI Securities Primary Dealership Ltd. | Financial | 0.70% | ₹498 Cr | — | — | — |
| Tata Power Company Ltd. | Energy | 0.70% | ₹498 Cr | — | — | — |
| company:13518 | Financial | 0.69% | ₹493 Cr | — | — | — |
| Bajaj Auto Credit Ltd. | Financial | 0.56% | ₹399 Cr | +0.73% | — | +0.39% |
| IDFC First Bank Ltd. | Financial | 0.56% | ₹396 Cr | +1.09% | +0.87% | +1.58% |
| LIC Housing Finance Ltd. | Financial | 0.56% | ₹399 Cr | +0.73% | — | +0.36% |
| Punjab National Bank | Financial | 0.56% | ₹399 Cr | +0.59% | +0.07% | +1.58% |
| Tata Communications Ltd. | Communication | 0.56% | ₹399 Cr | +0.59% | +0.88% | +0.79% |
| Tata Steel Ltd. | Metals & Mining | 0.56% | ₹398 Cr | +0.36% | — | +0.24% |
| company:9186 | Financial | 0.55% | ₹393 Cr | — | — | — |
| Bajaj Financial Securities Ltd. | Financial | 0.49% | ₹349 Cr | +0.44% | +0.37% | +0.16% |
| Karur Vysya Bank Ltd. | Financial | 0.49% | ₹348 Cr | — | +0.44% | — |
| Mindspace Business Parks REIT | Construction | 0.47% | ₹339 Cr | +0.15% | — | — |
| Avenue Supermarts Ltd. | Services | 0.42% | ₹296 Cr | — | — | — |
| Cholamandalam Investment and Finance Company Ltd. | Financial | 0.42% | ₹299 Cr | +0.54% | +0.73% | — |
| Tata Teleservices (Maharashtra) Ltd. | Communication | 0.39% | ₹275 Cr | +0.21% | — | — |
| Kotak Mahindra Bank Ltd. | Financial | 0.38% | ₹274 Cr | — | — | — |
| company:18495 | Financial | 0.38% | ₹271 Cr | — | — | — |
| Bajaj Finance Ltd. | Financial | 0.35% | ₹246 Cr | +0.36% | +0.29% | +1.57% |
| Canara Bank | Financial | 0.35% | ₹250 Cr | +1.09% | +0.72% | +1.56% |
| Hindustan Petroleum Corporation Ltd. | Energy | 0.35% | ₹247 Cr | +0.22% | — | — |
| Indian Overseas Bank | Financial | 0.35% | ₹249 Cr | — | +2.64% | — |
| Julius Baer Capital India Pvt Ltd. | Financial | 0.35% | ₹247 Cr | +0.29% | +0.29% | — |
| NTPC Ltd. | Energy | 0.35% | ₹248 Cr | +2.19% | +0.11% | — |
| DSP Finance Pvt Ltd. | Financial | 0.28% | ₹197 Cr | +0.29% | +0.43% | — |
| IDBI Bank Ltd. | Financial | 0.28% | ₹199 Cr | +0.37% | +0.36% | +1.58% |
| Mirae Asset Capital Markets (India) Pvt. Ltd. | Financial | 0.28% | ₹199 Cr | — | — | — |
| Sharekhan Ltd. | Financial | 0.28% | ₹199 Cr | — | — | — |
| Aarti Industries Ltd. | Chemicals | 0.21% | ₹150 Cr | +0.22% | +0.22% | — |
| Aditya Birla Money Ltd. | Financial | 0.21% | ₹148 Cr | +0.18% | +0.22% | +0.16% |
| Godrej Properties Ltd. | Construction | 0.17% | ₹123 Cr | +0.18% | +0.22% | +0.24% |
| Axis Bank Ltd. | Financial | 0.14% | ₹99.75 Cr | +0.36% | — | +0.78% |
| Goldman Sachs (India) Finance Pvt Ltd. | Financial | 0.14% | ₹99.53 Cr | — | — | — |
| Infina Finance Pvt. Ltd. | Financial | 0.14% | ₹99.89 Cr | +0.37% | +0.36% | +0.16% |
| NU VISTA Ltd. | Materials | 0.14% | ₹99.62 Cr | — | — | — |
| Network 18 Media & Investments Ltd. | Services | 0.14% | ₹98.44 Cr | +0.26% | +0.11% | +0.27% |
| Nuvoco Vistas Corporation Ltd. | Materials | 0.14% | ₹99.83 Cr | — | — | +0.31% |
| SBICAP Securities Ltd. | Financial | 0.14% | ₹98.75 Cr | — | +0.07% | — |
| Sikka Ports and Terminals Ltd. | Energy | 0.14% | ₹99.22 Cr | +0.15% | +0.83% | +0.39% |
| company:19777 | Financial | 0.14% | ₹98.69 Cr | — | — | +0.16% |
| Grasim Industries Ltd. | Materials | 0.07% | ₹49.86 Cr | +0.37% | — | +0.78% |
| company:4671 | Financial | 0.07% | ₹50.04 Cr | — | — | — |
| company:9848 | Construction | 0.07% | ₹49.97 Cr | +0.45% | +0.44% | — |
| Muthoot Finance Ltd. | Financial | 0.04% | ₹29.94 Cr | +0.11% | — | — |
| Gujarat State | Construction | 0.01% | ₹5.01 Cr | — | — | — |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| company:7079 | 0.00% | 1.38% | +1.38% |
| Bank Of Baroda | 2.56% | 1.38% | -1.18% |
| company:3977 | 0.00% | 1.14% | +1.14% |
| company:5932 | 0.00% | 1.11% | +1.11% |
| Punjab & Sind Bank | 0.98% | 0.00% | -0.98% |
| TMF Holdings Ltd. | 0.94% | 0.00% | -0.94% |
| Aditya Birla Capital Ltd. | 0.37% | 1.24% | +0.87% |
| Bajaj Housing Finance Ltd. | 0.76% | 0.00% | -0.76% |
| Kotak Mahindra Investments Ltd. | 0.76% | 0.00% | -0.76% |
| Tata Capital Housing Finance Ltd. | 0.76% | 0.00% | -0.76% |
| Bharti Telecom Ltd. | 0.75% | 0.00% | -0.75% |
| GOI | 6.16% | 5.41% | -0.75% |
| company:13518 | 0.00% | 0.69% | +0.69% |
| Kotak Mahindra Securities Ltd. | 0.23% | 0.83% | +0.60% |
| ICICI Securities Ltd. | 1.28% | 0.70% | -0.58% |
| company:9186 | 0.00% | 0.55% | +0.55% |
| Tata Steel Ltd. | 0.08% | 0.56% | +0.48% |
| Reliance Retail Ventures Ltd. | 1.88% | 1.40% | -0.48% |
| ICICI Bank Ltd. | 1.51% | 1.05% | -0.46% |
| Canara Bank | 0.75% | 0.35% | -0.40% |
| company:18495 | 0.00% | 0.38% | +0.38% |
| Axis Securities Ltd. | 0.30% | 0.00% | -0.30% |
| AU Small Finance Bank Ltd. | 0.23% | 0.00% | -0.23% |
| Birla Group Holdings Pvt. Ltd. | 0.23% | 0.00% | -0.23% |
| IGH Holdings Pvt. Ltd. | 0.23% | 0.00% | -0.23% |
| Kotak Mahindra Bank Ltd. | 0.15% | 0.38% | +0.23% |
| Bajaj Finance Ltd. | 0.57% | 0.35% | -0.22% |
| Karur Vysya Bank Ltd. | 0.68% | 0.49% | -0.19% |
| Tata Communications Ltd. | 0.38% | 0.56% | +0.18% |
| ICICI Home Finance Company Ltd. | 0.38% | 0.55% | +0.17% |
| Network 18 Media & Investments Ltd. | 0.30% | 0.14% | -0.16% |
| Export-Import Bank Of India | 2.26% | 2.10% | -0.16% |
| Fedbank Financial Services Ltd. | 0.15% | 0.00% | -0.15% |
| company:19777 | 0.00% | 0.14% | +0.14% |
| Union Bank of India | 1.88% | 1.75% | -0.13% |
| IDFC First Bank Ltd. | 0.68% | 0.56% | -0.12% |
| Hindustan Petroleum Corporation Ltd. | 0.23% | 0.35% | +0.12% |
| Reserve Bank of India | 1.50% | 1.39% | -0.11% |
| Small Industries Devp. Bank of India Ltd. | 1.49% | 1.39% | -0.10% |
| Power Finance Corporation Ltd. | 0.09% | 0.00% | -0.09% |
| L&T Finance Ltd. | 1.12% | 1.04% | -0.08% |
| Kotak Mahindra Prime Ltd. | 0.08% | 0.00% | -0.08% |
| SMFG India Credit Company Ltd. | 0.08% | 0.00% | -0.08% |
| HDFC Bank Ltd. | 0.97% | 0.89% | -0.08% |
| Bank of India | 1.05% | 0.98% | -0.07% |
| Poonawalla Fincorp Ltd. | 0.90% | 0.83% | -0.07% |
| company:4671 | 0.00% | 0.07% | +0.07% |
| company:9848 | 0.00% | 0.07% | +0.07% |
| REC Ltd. | 0.97% | 0.90% | -0.07% |
| Godrej Properties Ltd. | 0.23% | 0.17% | -0.06% |
| Aditya Birla Housing Finance Ltd. | 0.75% | 0.70% | -0.05% |
| Development Bank of Singapore | 0.75% | 0.70% | -0.05% |
| ICICI Securities Primary Dealership Ltd. | 0.75% | 0.70% | -0.05% |
| Tata Power Company Ltd. | 0.75% | 0.70% | -0.05% |
| Julius Baer Capital India Pvt Ltd. | 0.30% | 0.35% | +0.05% |
| Bajaj Financial Securities Ltd. | 0.53% | 0.49% | -0.04% |
| Mindspace Business Parks REIT | 0.51% | 0.47% | -0.04% |
| Indusind Bank Ltd. | 0.04% | 0.00% | -0.04% |
| Bajaj Auto Credit Ltd. | 0.60% | 0.56% | -0.04% |
| LIC Housing Finance Ltd. | 0.60% | 0.56% | -0.04% |
| Punjab National Bank | 0.60% | 0.56% | -0.04% |
| Avenue Supermarts Ltd. | 0.45% | 0.42% | -0.03% |
| Cholamandalam Investment and Finance Company Ltd. | 0.45% | 0.42% | -0.03% |
| Indian Overseas Bank | 0.38% | 0.35% | -0.03% |
| National Bank For Agriculture & Rural Development | 0.45% | 0.42% | -0.03% |
| Aarti Industries Ltd. | 0.23% | 0.21% | -0.02% |
| NTPC Ltd. | 0.37% | 0.35% | -0.02% |
| Aditya Birla Money Ltd. | 0.19% | 0.21% | +0.02% |
| DSP Finance Pvt Ltd. | 0.30% | 0.28% | -0.02% |
| IDBI Bank Ltd. | 0.30% | 0.28% | -0.02% |
| Jamnagar Utilities and Power Pvt. Ltd. | 0.30% | 0.28% | -0.02% |
| Mirae Asset Capital Markets (India) Pvt. Ltd. | 0.30% | 0.28% | -0.02% |
| Others | 0.30% | 0.28% | -0.02% |
| Sharekhan Ltd. | 0.30% | 0.28% | -0.02% |
| Tata Teleservices (Maharashtra) Ltd. | 0.41% | 0.39% | -0.02% |
| Muthoot Finance Ltd. | 0.05% | 0.04% | -0.01% |
| Grasim Industries Ltd. | 0.08% | 0.07% | -0.01% |
| Axis Bank Ltd. | 0.15% | 0.14% | -0.01% |
| Goldman Sachs (India) Finance Pvt Ltd. | 0.15% | 0.14% | -0.01% |
| Infina Finance Pvt. Ltd. | 0.15% | 0.14% | -0.01% |
| NU VISTA Ltd. | 0.15% | 0.14% | -0.01% |
| Nuvoco Vistas Corporation Ltd. | 0.15% | 0.14% | -0.01% |
| SBICAP Securities Ltd. | 0.15% | 0.14% | -0.01% |
| Sikka Ports and Terminals Ltd. | 0.15% | 0.14% | -0.01% |
| Gujarat State | 0.01% | 0.01% | 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 | ₹22,488 Cr | 0.19% | 6.6% | 6.7% | 6.7% |
 Axis Liquid Fund | ₹63,343 Cr | 0.23% | 6.6% | 6.7% | 6.7% |
 DSP Liquid Fund | ₹27,920 Cr | 0.21% | 6.6% | 6.7% | 6.7% |
 Edelweiss Liquid Fund | ₹13,272 Cr | 0.17% | 6.6% | 6.7% | 6.7% |
 Franklin India Liquid Fund | ₹6,082 Cr | 0.20% | 6.6% | 6.7% | 6.7% |
 Bank of India Liquid Fund | ₹1,825 Cr | 0.15% | 6.6% | 6.7% | 6.7% |
About
About this fund
The scheme’s own words, its benchmark and the people running it.
Investment objective
The scheme seeks to generate income through a portfolio comprising money market and debt instruments.
Fund managers
- Amar KalkundrikarMr. Kalkundrikar has done B.Com, CA, CFA, and MBA from Columbia Business School.Prior to joining HDFC Asset Management Company Limited, he has worked with Nippon India Mutual Fund, and HDFC AMC. He worked with multiple roles at HDFC MF.
- Swapnil JangamMr. Jangam has done B.Com, CA and CFA Level III.Prior to Joining HDFC Mutual Fund, he has worked with M.P. Chitale and Co. and EY.
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 months3.19% absolute | ₹60,000 | ₹61,914 | 3.19% | |
| 1 year6.37% annualised | ₹1,20,000 | ₹1,24,222 | 3.52% | |
| 3 years6.83% annualised | ₹3,60,000 | ₹4,00,550 | 11.26% | |
| 5 years6.26% annualised | ₹6,00,000 | ₹7,06,046 | 17.67% |
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 Liquid Fund?
The NAV of HDFC Liquid Fund is ₹5,529.99 as on 2 Oct 2026.
What is the expense ratio of HDFC Liquid Fund?
The expense ratio of HDFC Liquid Fund is 0.30% per year.
What is the minimum SIP amount for HDFC Liquid Fund?
You can start a SIP in HDFC Liquid Fund with ₹3,000 a month.
What returns has HDFC Liquid Fund given?
HDFC Liquid Fund has returned 6.5% over 1 year, 6.6% over 3 years and 6.6% over 5 years (annualised).
Is there a lock-in or exit load on HDFC Liquid Fund?
Lock-in: None. Exit load: Exit load of 0.0070% if redeemed within 1 day, 0.0065% if redeemed within 2 days, 0.0060% if redeemed within 3 days, 0.0055% if redeemed within 4 days, 0.0050% if redeemed within 5 days, 0.0045% if redeemed within 6 days..
How risky is HDFC Liquid Fund?
HDFC Liquid Fund is rated Low to Moderate on the SEBI riskometer and belongs to the Liquid category.
Which fund house manages HDFC Liquid Fund?
HDFC Liquid Fund is managed by HDFC Mutual Fund, which runs 86 schemes with ₹9,61,940 Cr under management.