HDFC Money Market Fund
Money MarketModerateOPEN-ENDED
- NAV as on 24 Sep 2026
- ₹6,179.32-0.01%1 day
- Return since launch
- 7.2%
- 52-week range
- ₹5,809.03 — ₹6,179.93
- AUM
- ₹33,192 Cr
HDFC Money Market Fund is a Money Market debt fund from HDFC Mutual Fund with ₹33,192 Cr under management, launched in 1999. Over three years it has returned 7.0% a year, against 7.0% for its category. The expense ratio is 0.41% and the SEBI riskometer reading is Moderate.
Performance
HDFC Money Market Fund NAV and returns
Growth of the fund against its category average over the period you pick.
Over 1Y this fund returned +6.4% against +6.3% for its category.
Performance
Returns
How the fund has done against its category and its benchmark.
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1Y | 6.7% | +0.5 pts | 6.3% | 6.7% |
| 2Y | 6.8% | +0.1 pts | 6.7% | 6.7% |
| 3Y | 7.0% | 0.0 pts | 7.0% | 6.9% |
| 5Y | 7.0% | +0.7 pts | 6.3% | 6.9% |
| 7Y | 6.6% | +0.1 pts | 6.4% | 6.4% |
| 10Y | 6.6% | +0.2 pts | 6.4% | 6.4% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | 0.5% | 0.0 pts | 0.5% | 0.5% |
| 3M | 1.7% | 0.0 pts | 1.7% | 1.6% |
| 6M | 3.6% | 0.0 pts | 3.6% | 3.6% |
| 1Y | 6.4% | +0.1 pts | 6.3% | 6.3% |
| 2Y | 7.0% | +0.2 pts | 6.9% | 7.0% |
| 3Y | 7.2% | +0.2 pts | 7.0% | 7.1% |
| 5Y | 6.5% | +0.2 pts | 6.3% | 6.4% |
| 7Y | 6.3% | +0.2 pts | 6.0% | 5.9% |
| 10Y | 6.6% | +0.2 pts | 6.4% | 6.6% |
Since launch (18 Nov 1999): 7.2%
Calendar-year returns
Category average6.5%
3.8%
4.7%
7.3%
7.6%
7.4%
Show as a table
| Period | Fund | vs category | Category |
|---|---|---|---|
| 2025 | 7.4% | −0.1 pts | 7.5% |
| 2024 | 7.6% | 0.0 pts | 7.6% |
| 2023 | 7.3% | −0.1 pts | 7.3% |
| 2022 | 4.7% | 0.0 pts | 4.7% |
| 2021 | 3.8% | 0.0 pts | 3.8% |
| 2020 | 6.5% | +0.4 pts | 6.1% |
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
0.41%
Expense ratio as on 16 Sep 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 0.35%
- Brokerage
- 0.00%
- Transaction charges
- 0.00%
- Statutory levies
- 0.06%
- Exit load
- 0%
- Lock-in
- None
Terms
- Min SIP
- ₹3,000
- Min lumpsum
- ₹5,000
- Plan
- GROWTH
- Fund type
- OPEN-ENDED
- Benchmark
- CRISIL Money Market A-I Index
Risk
Risk
What the riskometer means for this fund, and how its ratios sit against the category.
Moderate
Your principal is treated as being at moderate risk — typically medium duration debt and conservative hybrid 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 | 2.35 | 2.50 | Return earned for each unit of total risk taken. Higher is better. |
| Sortino | 3.54 | 3.56 | Return earned for each unit of downside risk. Higher is better. |
| Std. deviation | 0.55 | 0.54 | How widely monthly returns have varied around their own average. Lower is steadier. |
| Average of 5 category peers | |||
Portfolio
HDFC Money Market Fund portfolio
Portfolio as of 31 Aug 2026
Asset allocation
- Debt99.4%
- Other0.6%
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| Indusind Bank Ltd. | Financial | 2.93% | ₹971 Cr | +3.30% | +2.83% | +1.09% |
| Indian Overseas Bank | Financial | 2.92% | ₹968 Cr | +3.29% | +2.83% | — |
| Small Industries Devp. Bank of India Ltd. | Financial | 2.49% | ₹827 Cr | +0.34% | +2.41% | +0.67% |
| National Bank For Agriculture & Rural Development | Financial | 2.13% | ₹705 Cr | +2.57% | +2.20% | +0.14% |
| Bajaj Finance Ltd. | Financial | 1.90% | ₹631 Cr | +2.15% | — | — |
| Punjab & Sind Bank | Financial | 1.90% | ₹629 Cr | +2.14% | +1.84% | +0.27% |
| Bank of Maharashtra | Financial | 1.47% | ₹488 Cr | +1.66% | +1.43% | — |
| LIC Housing Finance Ltd. GDR/GDS | Financial | 1.46% | ₹484 Cr | — | — | — |
| Mindspace Business Parks REIT | Construction | 1.46% | ₹485 Cr | +1.65% | — | — |
| Yes Bank Ltd. | Financial | 1.46% | ₹485 Cr | +3.30% | +2.82% | — |
| Axis Bank Ltd. | Financial | 1.39% | ₹460 Cr | +1.49% | +1.28% | +2.65% |
| Bank of India | Financial | 1.31% | ₹436 Cr | +1.48% | +1.04% | +0.54% |
| Embassy Office Parks REIT | Construction | 1.09% | ₹361 Cr | +1.23% | — | — |
| Kotak Mahindra Securities Ltd. | Financial | 1.02% | ₹338 Cr | +1.15% | +0.99% | — |
| Canara Bank | Financial | 1.00% | ₹330 Cr | +2.15% | +1.85% | +0.81% |
| Export-Import Bank Of India | Financial | 0.87% | ₹290 Cr | +0.83% | +1.42% | +1.49% |
| Others | Others | 0.86% | ₹291 Cr | +0.96% | +0.84% | +0.75% |
| UCO Bank | Financial | 0.85% | ₹284 Cr | — | — | — |
| Tata Capital Housing Finance Ltd. | Financial | 0.74% | ₹244 Cr | +0.83% | +0.45% | — |
| Aditya Birla Housing Finance Ltd. | Financial | 0.73% | ₹241 Cr | +0.82% | — | — |
| Bharti Telecom Ltd. | Communication | 0.73% | ₹241 Cr | +0.82% | — | +0.95% |
| ICICI Securities Ltd. | Financial | 0.73% | ₹242 Cr | +0.82% | +0.60% | +0.27% |
| National Bank For Financing Infrastructure And Development | Financial | 0.73% | ₹241 Cr | +0.82% | — | — |
| company:1697 | Financial | 0.73% | ₹241 Cr | +1.02% | — | +0.41% |
| Punjab National Bank | Financial | 0.66% | ₹219 Cr | +0.66% | +0.42% | +0.74% |
| Union Bank of India | Financial | 0.66% | ₹218 Cr | +3.82% | +0.44% | +2.30% |
| Aditya Birla Capital Ltd. | Financial | 0.65% | ₹217 Cr | +0.74% | +0.63% | — |
| AU Small Finance Bank Ltd. Pref. Shares | Financial | 0.59% | ₹194 Cr | +0.66% | +0.57% | +0.54% |
| Reserve Bank of India | Financial | 0.59% | ₹197 Cr | +1.22% | +0.69% | +0.81% |
| Infina Finance Pvt. Ltd. | Financial | 0.58% | ₹194 Cr | +0.66% | +0.56% | +0.27% |
| JM Financial Services Pvt. Ltd. | Financial | 0.58% | ₹194 Cr | +0.66% | +0.56% | — |
| Muthoot Fincorp Ltd. | Financial | 0.58% | ₹193 Cr | +1.04% | +0.88% | +0.78% |
| Pilani Investment And Industries Corporation Ltd. | Financial | 0.51% | ₹170 Cr | +0.58% | +0.49% | — |
| Cholamandalam Investment and Finance Company Ltd. | Financial | 0.44% | ₹145 Cr | +0.49% | — | +0.53% |
| Kotak Mahindra Bank Ltd. | Financial | 0.44% | ₹146 Cr | +1.66% | +0.44% | +0.81% |
| Bank Of Baroda | Financial | 0.43% | ₹142 Cr | +0.67% | +0.57% | +1.49% |
| Indian Bank | Financial | 0.43% | ₹142 Cr | — | +1.19% | +0.07% |
| L&T Finance Ltd. | Financial | 0.43% | ₹142 Cr | — | +0.59% | +1.27% |
| IIFL Capital Services Ltd | Financial | 0.37% | ₹122 Cr | — | — | — |
| Maharashtra State | Others | 0.30% | ₹101 Cr | — | +0.14% | +0.13% |
| Birla Group Holdings Pvt. Ltd. | Financial | 0.29% | ₹97.01 Cr | +0.33% | +0.28% | +0.20% |
| DSP Finance Pvt Ltd. | Financial | 0.29% | ₹95.99 Cr | +0.33% | — | — |
| ICICI Bank Ltd. | Financial | 0.29% | ₹97.35 Cr | +0.33% | +0.28% | — |
| Motilal Oswal Financial Services Ltd. | Financial | 0.29% | ₹96.94 Cr | — | +0.60% | +0.53% |
| Muthoot Finance Ltd. | Financial | 0.29% | ₹96.41 Cr | +0.16% | +0.30% | +0.13% |
| Tata Realty and Infrastructure Ltd. | Construction | 0.29% | ₹97.02 Cr | +0.33% | +0.28% | — |
| company:2089 | Financial | 0.29% | ₹97.02 Cr | — | +1.05% | +1.34% |
| company:4789 | Financial | 0.29% | ₹96.59 Cr | — | — | — |
| company:7202 | Financial | 0.29% | ₹96.79 Cr | — | — | — |
| AU Small Finance Bank Ltd. | Financial | 0.28% | ₹92.87 Cr | +0.82% | +0.85% | +0.54% |
| Gujarat State | Construction | 0.23% | ₹75.82 Cr | +0.70% | +1.15% | +0.01% |
| IGH Holdings Pvt. Ltd. | Communication | 0.22% | ₹72.12 Cr | +0.24% | +0.56% | +0.27% |
| HSBC InvestDirect Financial Services India Ltd. | Financial | 0.15% | ₹48.21 Cr | +0.16% | +0.14% | — |
| Tamilnadu State | Others | 0.15% | ₹50.45 Cr | +0.03% | +0.33% | +0.31% |
| company:11647 | Financial | 0.15% | ₹48.70 Cr | — | — | — |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| Tata Teleservices Ltd. | 1.56% | 0.00% | -1.56% |
| Yes Bank Ltd. | 2.92% | 1.46% | -1.46% |
| company:1697 | 0.00% | 0.73% | +0.73% |
| UCO Bank | 1.50% | 0.85% | -0.65% |
| Canara Bank | 1.50% | 1.00% | -0.50% |
| AU Small Finance Bank Ltd. | 0.76% | 0.28% | -0.48% |
| Reserve Bank of India | 0.27% | 0.59% | +0.32% |
| company:2089 | 0.00% | 0.29% | +0.29% |
| company:4789 | 0.00% | 0.29% | +0.29% |
| company:7202 | 0.00% | 0.29% | +0.29% |
| National Bank For Agriculture & Rural Development | 2.39% | 2.13% | -0.26% |
| Bank Of Baroda | 0.62% | 0.43% | -0.19% |
| company:11647 | 0.00% | 0.15% | +0.15% |
| Indian Overseas Bank | 3.07% | 2.92% | -0.15% |
| Indusind Bank Ltd. | 3.07% | 2.93% | -0.14% |
| Kotak Mahindra Bank Ltd. | 0.31% | 0.44% | +0.13% |
| Small Industries Devp. Bank of India Ltd. | 2.62% | 2.49% | -0.13% |
| Bajaj Finance Ltd. | 2.00% | 1.90% | -0.10% |
| Export-Import Bank Of India | 0.77% | 0.87% | +0.10% |
| Punjab & Sind Bank | 1.99% | 1.90% | -0.09% |
| Bank of Maharashtra | 1.55% | 1.47% | -0.08% |
| Mindspace Business Parks REIT | 1.54% | 1.46% | -0.08% |
| Axis Bank Ltd. | 1.46% | 1.39% | -0.07% |
| LIC Housing Finance Ltd. GDR/GDS | 1.53% | 1.46% | -0.07% |
| Bank of India | 1.38% | 1.31% | -0.07% |
| Maharashtra State | 0.24% | 0.30% | +0.06% |
| Kotak Mahindra Securities Ltd. | 1.07% | 1.02% | -0.05% |
| Embassy Office Parks REIT | 1.14% | 1.09% | -0.05% |
| ICICI Securities Ltd. | 0.77% | 0.73% | -0.04% |
| Aditya Birla Capital Ltd. | 0.69% | 0.65% | -0.04% |
| AU Small Finance Bank Ltd. Pref. Shares | 0.62% | 0.59% | -0.03% |
| Aditya Birla Housing Finance Ltd. | 0.76% | 0.73% | -0.03% |
| Bharti Telecom Ltd. | 0.76% | 0.73% | -0.03% |
| Infina Finance Pvt. Ltd. | 0.61% | 0.58% | -0.03% |
| JM Financial Services Pvt. Ltd. | 0.61% | 0.58% | -0.03% |
| Muthoot Fincorp Ltd. | 0.61% | 0.58% | -0.03% |
| National Bank For Financing Infrastructure And Development | 0.76% | 0.73% | -0.03% |
| Pilani Investment And Industries Corporation Ltd. | 0.54% | 0.51% | -0.03% |
| Tata Capital Housing Finance Ltd. | 0.77% | 0.74% | -0.03% |
| Punjab National Bank | 0.69% | 0.66% | -0.03% |
| Birla Group Holdings Pvt. Ltd. | 0.31% | 0.29% | -0.02% |
| Cholamandalam Investment and Finance Company Ltd. | 0.46% | 0.44% | -0.02% |
| ICICI Bank Ltd. | 0.31% | 0.29% | -0.02% |
| IIFL Capital Services Ltd | 0.39% | 0.37% | -0.02% |
| Indian Bank | 0.45% | 0.43% | -0.02% |
| L&T Finance Ltd. | 0.45% | 0.43% | -0.02% |
| Motilal Oswal Financial Services Ltd. | 0.31% | 0.29% | -0.02% |
| Muthoot Finance Ltd. | 0.31% | 0.29% | -0.02% |
| Tata Realty and Infrastructure Ltd. | 0.31% | 0.29% | -0.02% |
| Others | 0.30% | 0.28% | -0.02% |
| DSP Finance Pvt Ltd. | 0.30% | 0.29% | -0.01% |
| IGH Holdings Pvt. Ltd. | 0.23% | 0.22% | -0.01% |
| Tamilnadu State | 0.16% | 0.15% | -0.01% |
| Union Bank of India | 0.23% | 0.22% | -0.01% |
| Gujarat State | 0.24% | 0.23% | -0.01% |
| HSBC InvestDirect Financial Services India Ltd. | 0.15% | 0.15% | 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 | ₹21,840 Cr | 0.33% | 6.8% | 7.1% | 7.1% |
 Tata Money Market Fund | ₹34,511 Cr | 0.40% | 6.7% | 7.0% | 7.0% |
 Aditya Birla Sun Life Money Market Fund | ₹29,877 Cr | 0.37% | 6.8% | 7.0% | 7.1% |
 Axis Money Market Fund | ₹21,405 Cr | 0.35% | 6.8% | 7.1% | 7.1% |
 UTI Money Market Fund | ₹19,468 Cr | 0.24% | 6.8% | 7.1% | 7.1% |
 Franklin India Money Market Fund | ₹3,937 Cr | 0.28% | 6.8% | 7.0% | 7.0% |
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 by investing in 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.
- 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 months3.61% absolute | ₹60,000 | ₹62,166 | 3.61% | |
| 1 year6.36% annualised | ₹1,20,000 | ₹1,24,215 | 3.51% | |
| 3 years7.21% annualised | ₹3,60,000 | ₹4,02,970 | 11.94% | |
| 5 years6.53% annualised | ₹6,00,000 | ₹7,11,136 | 18.52% |
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 Money Market Fund?
The NAV of HDFC Money Market Fund is ₹6,179.32 as on 24 Sep 2026.
What is the expense ratio of HDFC Money Market Fund?
The expense ratio of HDFC Money Market Fund is 0.41% per year.
What is the minimum SIP amount for HDFC Money Market Fund?
You can start a SIP in HDFC Money Market Fund with ₹3,000 a month.
What returns has HDFC Money Market Fund given?
HDFC Money Market Fund has returned 6.7% over 1 year, 7.0% over 3 years and 7.0% over 5 years (annualised).
Is there a lock-in or exit load on HDFC Money Market Fund?
Lock-in: None. Exit load: 0%.
How risky is HDFC Money Market Fund?
HDFC Money Market Fund is rated Moderate on the SEBI riskometer and belongs to the Money Market category.
Which fund house manages HDFC Money Market Fund?
HDFC Money Market Fund is managed by HDFC Mutual Fund, which runs 85 schemes with ₹9,61,940 Cr under management.