HDFC Medium Term Fund
Medium DurationModerately HighOPEN-ENDED
- NAV as on 9 Nov 2026
- ₹60.64+0.09%1 day
- Return since launch
- 7.5%
- 52-week range
- ₹57.62 — ₹60.59
- AUM
- ₹3,514 Cr
HDFC Medium Term Fund is a Medium Duration debt fund from HDFC Mutual Fund with ₹3,514 Cr under management, launched in 2002. Over three years it has returned 6.5% a year, against 7.1% for its category. The expense ratio is 1.30% and the SEBI riskometer reading is Moderately High.
Performance
HDFC Medium Term Fund NAV and returns
Growth of the fund against its category average over the period you pick.
Over 1Y this fund returned +5.1% against +4.8% for its category.
Performance
Returns
How the fund has done against its category and its benchmark.
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1Y | 5.3% | +0.7 pts | 4.6% | 5.1% |
| 2Y | 5.8% | +0.4 pts | 5.4% | 5.6% |
| 3Y | 6.5% | −0.6 pts | 7.1% | 6.2% |
| 5Y | 6.6% | +0.4 pts | 6.2% | 6.4% |
| 7Y | 6.4% | −0.1 pts | 6.6% | 6.2% |
| 10Y | 6.6% | +0.5 pts | 6.1% | 6.2% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | 0.5% | −0.2 pts | 0.7% | 0.8% |
| 3M | 0.5% | +0.3 pts | 0.1% | 0.6% |
| 6M | 3.2% | +0.4 pts | 2.8% | 3.2% |
| 1Y | 5.2% | +0.6 pts | 4.6% | 4.8% |
| 2Y | 6.5% | +0.1 pts | 6.4% | 6.3% |
| 3Y | 7.1% | 0.0 pts | 7.1% | 7.0% |
| 5Y | 6.1% | −0.2 pts | 6.2% | 5.9% |
| 7Y | 6.6% | +0.5 pts | 6.1% | 6.2% |
| 10Y | 6.6% | +0.5 pts | 6.1% | 6.3% |
Since launch (4 Feb 2002): 7.5%
Calendar-year returns
Category average10.0%
5.0%
2.9%
6.7%
8.0%
7.7%
Show as a table
| Period | Fund | vs category | Category |
|---|---|---|---|
| 2025 | 7.7% | −0.8 pts | 8.5% |
| 2024 | 8.0% | −0.7 pts | 8.7% |
| 2023 | 6.7% | −0.7 pts | 7.4% |
| 2022 | 2.9% | −1.9 pts | 4.8% |
| 2021 | 5.0% | −1.2 pts | 6.2% |
| 2020 | 10.0% | +2.9 pts | 7.1% |
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
1.30%
Expense ratio as on 4 Nov 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 1.11%
- Brokerage
- 0.00%
- Transaction charges
- 0.00%
- Statutory levies
- 0.19%
- Exit load
- Exit load of 0.25% if units are redeemed within 1 month.
- Lock-in
- None
Terms
- Min SIP
- ₹3,000
- Min lumpsum
- ₹5,000
- Plan
- GROWTH
- Fund type
- OPEN-ENDED
- Benchmark
- NIFTY Medium Duration Debt Index A-III
Risk
Risk
What the riskometer means for this fund, and how its ratios sit against the category.
Moderately High
Your principal is treated as being at moderately high risk — typically balanced hybrid and index-led equity 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 | 0.75 | 1.11 | Return earned for each unit of total risk taken. Higher is better. |
| Sortino | 1.21 | 1.80 | Return earned for each unit of downside risk. Higher is better. |
| Std. deviation | 1.65 | 1.76 | How widely monthly returns have varied around their own average. Lower is steadier. |
| Average of 4 category peers | |||
Portfolio
HDFC Medium Term Fund portfolio
Portfolio as of 30 Sep 2026
Asset allocation
- Debt91.4%
- Other8.6%
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| Siddhivinayak Securitisation Trust | Others | 4.78% | ₹167 Cr | +4.75% | +4.66% | +1.95% |
| GMR Airports Ltd. | Construction | 4.55% | ₹159 Cr | +4.33% | +3.78% | +3.32% |
| National Bank For Agriculture & Rural Development | Financial | 3.55% | ₹124 Cr | +1.38% | +0.66% | +0.66% |
| Reserve Bank of India | Financial | 3.48% | ₹122 Cr | — | — | — |
| Jubilant Beverages Ltd. | Consumer Staples | 3.43% | ₹120 Cr | +3.26% | +3.13% | +2.92% |
| SK Finance Ltd. | Financial | 2.86% | ₹99.93 Cr | +2.75% | +2.70% | +2.61% |
| Small Industries Devp. Bank of India Ltd. | Financial | 2.86% | ₹99.97 Cr | +2.78% | — | — |
| Kalpataru Projects International Ltd. | Capital Goods | 2.85% | ₹99.85 Cr | +2.75% | +2.70% | +2.63% |
| SBFC Finance Ltd. | Financial | 2.84% | ₹99.24 Cr | +2.74% | +2.70% | +2.60% |
| Kosamattam Finance Ltd | Financial | 2.80% | ₹98.05 Cr | +2.71% | +2.64% | — |
| Bajaj Housing Finance Ltd. | Financial | 2.77% | ₹97.05 Cr | +3.90% | +3.80% | +3.74% |
| Shivshakti Securitisation Trust | Others | 2.73% | ₹95.50 Cr | +2.70% | +2.66% | +1.96% |
| MAS Financial Services Ltd. | Financial | 2.72% | ₹95.31 Cr | +2.64% | +2.57% | +2.47% |
| Others | Others | 2.33% | ₹81.16 Cr | +1.02% | +0.99% | +0.93% |
| JTPM Metal Traders Ltd. | Metals & Mining | 2.31% | ₹80.93 Cr | +2.21% | +2.11% | +1.96% |
| Triumph Composites Pvt. Ltd. | Chemicals | 2.28% | ₹79.89 Cr | — | — | — |
| Truhome Finance Ltd. | Financial | 2.15% | ₹75.13 Cr | +2.07% | +2.03% | +1.97% |
| Motilal Oswal Home Finance Ltd. | Financial | 2.14% | ₹74.80 Cr | +2.07% | +2.03% | +1.97% |
| Evonith Value Steel Ltd. | Metals & Mining | 2.13% | ₹74.46 Cr | +2.07% | — | — |
| Power Finance Corporation Ltd. | Financial | 2.12% | ₹74.06 Cr | +2.08% | +2.02% | +1.98% |
| REC Ltd. | Financial | 2.09% | ₹73.27 Cr | +2.74% | +2.64% | — |
| Union Bank of India | Financial | 2.04% | ₹71.37 Cr | — | — | — |
| Pipeline Infrastructure (India) Pvt. Ltd. | Construction | 1.72% | ₹60.21 Cr | +1.66% | +1.63% | +1.60% |
| Aadhar Housing Finance Ltd | Financial | 1.70% | ₹59.45 Cr | +1.65% | +1.62% | +1.58% |
| Aadharshila Infratech Pvt. Ltd. | Construction | 1.68% | ₹58.96 Cr | +1.64% | — | — |
| Tata Power Company Ltd. | Energy | 1.47% | ₹51.43 Cr | +2.06% | +2.03% | +1.99% |
| Godrej Industries Ltd. | Consumer Staples | 1.43% | ₹50.04 Cr | +1.38% | +1.36% | +1.33% |
| JSW Energy Ltd. | Capital Goods | 1.43% | ₹50.11 Cr | +1.37% | +1.35% | +1.31% |
| Tata Power Renewable Energy Ltd. | Capital Goods | 1.43% | ₹50.00 Cr | +1.39% | +1.36% | +1.32% |
| Aditya Birla Digital Fashion Ventures Ltd. | Services | 1.41% | ₹49.27 Cr | — | — | — |
| Indian Railway Finance Corporation Ltd. | Financial | 1.41% | ₹49.30 Cr | +1.40% | +1.36% | +1.34% |
| TMF Holdings Ltd. | Financial | 1.41% | ₹49.37 Cr | +1.36% | +1.33% | +1.29% |
| Veritas Finance Ltd. | Financial | 1.41% | ₹49.40 Cr | — | — | — |
| Gujarat State | Construction | 1.39% | ₹48.80 Cr | — | — | — |
| Raajmarg Infra Investment Trust | Construction | 1.31% | ₹45.71 Cr | +1.19% | +1.12% | — |
| Embassy Office Parks REIT | Construction | 1.00% | ₹34.94 Cr | +0.97% | +0.91% | +0.88% |
| Indus Infra Trust | Construction | 0.91% | ₹31.94 Cr | +0.85% | +0.83% | +0.74% |
| Indigo 043 | Others | 0.80% | ₹27.82 Cr | +0.77% | +0.75% | +0.72% |
| Powergrid Infrastructure Investment Trust | Services | 0.78% | ₹27.33 Cr | +0.69% | +0.66% | — |
| Universe Trust | Construction | 0.78% | ₹27.42 Cr | +1.02% | +1.00% | +0.97% |
| ONGC Petro Additions Ltd. | Energy | 0.72% | ₹25.09 Cr | +0.69% | +0.68% | +0.66% |
| JM Financial Home Loans Ltd. | Financial | 0.71% | ₹24.88 Cr | +0.69% | +0.68% | +0.66% |
| Vajra Trust | Others | 0.71% | ₹24.80 Cr | +0.91% | +1.09% | +1.05% |
| Karnataka State | Others | 0.70% | ₹24.34 Cr | +0.69% | — | — |
| Tamilnadu State | Others | 0.70% | ₹24.34 Cr | — | — | — |
| Jubilant Bevco Ltd. | Consumer Staples | 0.64% | ₹22.50 Cr | +0.61% | +0.59% | +0.55% |
| Vastu Finserve India Private Ltd. | Financial | 0.57% | ₹19.79 Cr | +0.54% | +0.53% | — |
| Capital Infra Trust | Construction | 0.56% | ₹19.45 Cr | +0.51% | +0.47% | +0.50% |
| GOI | Sovereign | 0.41% | ₹14.27 Cr | +0.41% | +0.28% | +0.69% |
| NTPC Ltd. | Energy | 0.27% | ₹9.45 Cr | +0.27% | +0.26% | +0.26% |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| Reserve Bank of India | 0.00% | 3.48% | +3.48% |
| Union Bank of India | 0.00% | 2.04% | +2.04% |
| National Bank For Agriculture & Rural Development | 2.08% | 3.55% | +1.47% |
| Veritas Finance Ltd. | 0.00% | 1.41% | +1.41% |
| Gujarat State | 0.00% | 1.39% | +1.39% |
| company:8520 | 1.39% | 0.00% | -1.39% |
| GMR Airports Ltd. | 4.41% | 4.55% | +0.14% |
| Jubilant Beverages Ltd. | 3.32% | 3.43% | +0.11% |
| Universe Trust | 0.88% | 0.78% | -0.10% |
| SBFC Finance Ltd. | 2.76% | 2.84% | +0.08% |
| SK Finance Ltd. | 2.78% | 2.86% | +0.08% |
| Small Industries Devp. Bank of India Ltd. | 2.78% | 2.86% | +0.08% |
| Kalpataru Projects International Ltd. | 2.78% | 2.85% | +0.07% |
| MAS Financial Services Ltd. | 2.65% | 2.72% | +0.07% |
| Kosamattam Finance Ltd | 2.73% | 2.80% | +0.07% |
| JTPM Metal Traders Ltd. | 2.25% | 2.31% | +0.06% |
| Truhome Finance Ltd. | 2.09% | 2.15% | +0.06% |
| Vajra Trust | 0.77% | 0.71% | -0.06% |
| Motilal Oswal Home Finance Ltd. | 2.09% | 2.14% | +0.05% |
| Power Finance Corporation Ltd. | 2.07% | 2.12% | +0.05% |
| Evonith Value Steel Ltd. | 2.08% | 2.13% | +0.05% |
| Triumph Composites Pvt. Ltd. | 2.23% | 2.28% | +0.05% |
| Aadhar Housing Finance Ltd | 1.66% | 1.70% | +0.04% |
| Aadharshila Infratech Pvt. Ltd. | 1.64% | 1.68% | +0.04% |
| Godrej Industries Ltd. | 1.39% | 1.43% | +0.04% |
| JSW Energy Ltd. | 1.39% | 1.43% | +0.04% |
| Pipeline Infrastructure (India) Pvt. Ltd. | 1.68% | 1.72% | +0.04% |
| Powergrid Infrastructure Investment Trust | 0.74% | 0.78% | +0.04% |
| Siddhivinayak Securitisation Trust | 4.82% | 4.78% | -0.04% |
| Tata Power Company Ltd. | 1.43% | 1.47% | +0.04% |
| TMF Holdings Ltd. | 1.37% | 1.41% | +0.04% |
| Aditya Birla Digital Fashion Ventures Ltd. | 1.38% | 1.41% | +0.03% |
| Indigo 043 | 0.77% | 0.80% | +0.03% |
| Raajmarg Infra Investment Trust | 1.28% | 1.31% | +0.03% |
| Tata Power Renewable Energy Ltd. | 1.40% | 1.43% | +0.03% |
| Vastu Finserve India Private Ltd. | 0.54% | 0.57% | +0.03% |
| Bajaj Housing Finance Ltd. | 1.92% | 1.94% | +0.02% |
| Capital Infra Trust | 0.54% | 0.56% | +0.02% |
| Embassy Office Parks REIT | 0.98% | 1.00% | +0.02% |
| JM Financial Home Loans Ltd. | 0.69% | 0.71% | +0.02% |
| Jubilant Bevco Ltd. | 0.62% | 0.64% | +0.02% |
| ONGC Petro Additions Ltd. | 0.70% | 0.72% | +0.02% |
| REC Ltd. | 0.69% | 0.71% | +0.02% |
| Shivshakti Securitisation Trust | 2.74% | 2.73% | -0.01% |
| Indian Railway Finance Corporation Ltd. | 0.70% | 0.71% | +0.01% |
| Karnataka State | 0.69% | 0.70% | +0.01% |
| Others | 0.35% | 0.36% | +0.01% |
| Tamilnadu State | 0.69% | 0.70% | +0.01% |
| GOI | 0.40% | 0.41% | +0.01% |
| Indus Infra Trust | 0.91% | 0.91% | 0.00% |
| NTPC Ltd. | 0.27% | 0.27% | 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 | ₹4,215 Cr | 1.36% | 5.6% | 7.4% | 7.8% |
 SBI Medium Term Fund | ₹6,319 Cr | 1.22% | 5.2% | 6.4% | 6.7% |
 ICICI Prudential Medium Term Fund | ₹5,260 Cr | 1.36% | 5.7% | 7.2% | 7.3% |
 Aditya Birla Sun Life Medium Term Fund | ₹3,343 Cr | 1.55% | 6.1% | 9.1% | 10.1% |
 Axis Medium Term Fund | ₹1,939 Cr | 1.32% | 5.4% | 6.8% | 7.1% |
About
About this fund
The scheme’s own words, its benchmark and the people running it.
Investment objective
The scheme seeks to generate income / capital appreciation through investments in Debt and Money Market 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.
- Anil BamboliMr. Bamboli is a CFA from Association for Investment Management and Research, U.S.A, Masters in Management Studies (Finance) and a Graduate in Cost and Works Accountant from ICWAI.Prior to joining HDFC AMC he has worked with SBI Fund Management for 11 years.
- Bhavyesh DivechaCFA-L3, PGDM (IIM Ahmedabad), B.E. Computers.Prior to Joining the HDFC AMC, he has worked with L&T Investment Management Limited, ICRA Ltd, FinIQ Consulting Private Ltd and Tata Consultancy Services Ltd.
- Praveen JainMr. Jain has done CA and CFAPrior to joining HDFC Mutual Fund, he has worked with Larsen & Toubro Ltd and Tata Motors
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 months3.22% absolute | ₹60,000 | ₹61,932 | 3.22% | |
| 1 year5.16% annualised | ₹1,20,000 | ₹1,23,407 | 2.84% | |
| 3 years7.13% annualised | ₹3,60,000 | ₹4,02,459 | 11.79% | |
| 5 years6.06% annualised | ₹6,00,000 | ₹7,02,306 | 17.05% |
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 Medium Term Fund?
The NAV of HDFC Medium Term Fund is ₹60.64 as on 9 Nov 2026.
What is the expense ratio of HDFC Medium Term Fund?
The expense ratio of HDFC Medium Term Fund is 1.30% per year.
What is the minimum SIP amount for HDFC Medium Term Fund?
You can start a SIP in HDFC Medium Term Fund with ₹3,000 a month.
What returns has HDFC Medium Term Fund given?
HDFC Medium Term Fund has returned 5.3% over 1 year, 6.5% over 3 years and 6.6% over 5 years (annualised).
Is there a lock-in or exit load on HDFC Medium Term Fund?
Lock-in: None. Exit load: Exit load of 0.25% if units are redeemed within 1 month..
How risky is HDFC Medium Term Fund?
HDFC Medium Term Fund is rated Moderately High on the SEBI riskometer and belongs to the Medium Duration category.
Which fund house manages HDFC Medium Term Fund?
HDFC Medium Term Fund is managed by HDFC Mutual Fund, which runs 86 schemes with ₹9,96,954 Cr under management.