HDFC Money Market Fund
Money MarketModerateOPEN-ENDED
- NAV as on 9 Nov 2026
- ₹6,219.34+0.07%1 day
- Return since launch
- 7.2%
- 52-week range
- ₹5,851.24 — ₹6,214.95
- AUM
- ₹28,353 Cr
HDFC Money Market Fund is a Money Market debt fund from HDFC Mutual Fund with ₹28,353 Cr under management, launched in 1999. Over three years it has returned 6.8% 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 +6.2% 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 | 6.3% | +0.2 pts | 6.2% | 6.3% |
| 2Y | 6.5% | +0.1 pts | 6.4% | 6.5% |
| 3Y | 6.8% | −0.2 pts | 7.0% | 6.8% |
| 5Y | 6.9% | +0.5 pts | 6.4% | 6.8% |
| 7Y | 6.6% | +0.1 pts | 6.4% | 6.4% |
| 10Y | 6.5% | +0.2 pts | 6.3% | 6.3% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | 0.3% | 0.0 pts | 0.3% | 0.3% |
| 3M | 1.4% | 0.0 pts | 1.4% | 1.4% |
| 6M | 3.3% | 0.0 pts | 3.3% | 3.3% |
| 1Y | 6.2% | +0.1 pts | 6.2% | 6.2% |
| 2Y | 6.9% | +0.1 pts | 6.7% | 6.8% |
| 3Y | 7.1% | +0.2 pts | 7.0% | 7.0% |
| 5Y | 6.6% | +0.2 pts | 6.4% | 6.4% |
| 7Y | 6.2% | +0.2 pts | 6.0% | 5.9% |
| 10Y | 6.5% | +0.2 pts | 6.3% | 6.5% |
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 4 Nov 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 | 2.30 | 2.20 | Return earned for each unit of total risk taken. Higher is better. |
| Sortino | 3.39 | 3.26 | Return earned for each unit of downside risk. Higher is better. |
| Std. deviation | 0.58 | 0.56 | 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 30 Sep 2026
Asset allocation
- Debt101.2%
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| Indian Overseas Bank | Financial | 3.53% | ₹974 Cr | +3.41% | +3.33% | — |
| Indusind Bank Ltd. | Financial | 3.53% | ₹976 Cr | +3.41% | +3.33% | +1.07% |
| Small Industries Devp. Bank of India Ltd. | Financial | 3.10% | ₹856 Cr | +5.82% | +5.68% | +1.32% |
| National Bank For Agriculture & Rural Development | Financial | 2.57% | ₹709 Cr | +2.65% | +2.59% | +0.20% |
| Punjab & Sind Bank | Financial | 2.29% | ₹633 Cr | +2.21% | +2.16% | +0.26% |
| Bajaj Finance Ltd. | Financial | 1.94% | ₹537 Cr | +2.22% | — | — |
| Reserve Bank of India | Financial | 1.79% | ₹493 Cr | +0.35% | +0.09% | +0.27% |
| Bank of Maharashtra | Financial | 1.78% | ₹491 Cr | +1.72% | +1.68% | — |
| Mindspace Business Parks REIT | Construction | 1.77% | ₹488 Cr | +1.71% | — | — |
| LIC Housing Finance Ltd. GDR/GDS | Financial | 1.76% | ₹487 Cr | — | — | — |
| Yes Bank Ltd. | Financial | 1.76% | ₹487 Cr | +3.41% | +3.33% | — |
| Bank of India | Financial | 1.59% | ₹439 Cr | +1.54% | +1.23% | +0.53% |
| Punjab National Bank | Financial | 1.41% | ₹388 Cr | +0.68% | +0.50% | +0.72% |
| Embassy Office Parks REIT | Construction | 1.31% | ₹363 Cr | +1.27% | — | — |
| Kotak Mahindra Securities Ltd. | Financial | 1.23% | ₹340 Cr | +1.19% | +1.16% | — |
| Canara Bank | Financial | 1.03% | ₹285 Cr | +2.23% | +2.18% | +2.51% |
| UCO Bank | Financial | 1.03% | ₹285 Cr | — | — | — |
| Tata Capital Housing Finance Ltd. | Financial | 0.89% | ₹245 Cr | +0.86% | +0.84% | — |
| Aditya Birla Housing Finance Ltd. | Financial | 0.88% | ₹243 Cr | +0.85% | +0.83% | — |
| Bharti Telecom Ltd. | Communication | 0.88% | ₹243 Cr | +0.85% | +0.83% | +0.93% |
| ICICI Securities Ltd. | Financial | 0.88% | ₹243 Cr | +0.85% | +0.83% | +0.26% |
| IDBI Bank Ltd. | Financial | 0.88% | ₹242 Cr | — | — | +0.40% |
| AU Small Finance Bank Ltd. Pref. Shares | Financial | 0.71% | ₹195 Cr | +0.68% | +0.67% | +0.52% |
| Bajaj Financial Securities Ltd. | Financial | 0.71% | ₹196 Cr | — | — | — |
| Infina Finance Pvt. Ltd. | Financial | 0.71% | ₹195 Cr | +0.68% | +0.66% | +0.26% |
| JM Financial Services Pvt. Ltd. | Financial | 0.71% | ₹195 Cr | +0.68% | +0.66% | — |
| Muthoot Fincorp Ltd. | Financial | 0.71% | ₹195 Cr | +0.68% | +1.04% | +0.76% |
| Axis Bank Ltd. | Financial | 0.70% | ₹195 Cr | +1.62% | +1.51% | +2.59% |
| Pilani Investment And Industries Corporation Ltd. | Financial | 0.62% | ₹171 Cr | +0.60% | +0.58% | — |
| Aditya Birla Capital Ltd. | Financial | 0.53% | ₹147 Cr | +0.76% | +0.75% | — |
| Hero FinCorp Ltd. | Financial | 0.53% | ₹146 Cr | — | — | +0.26% |
| Union Bank of India | Financial | 0.53% | ₹146 Cr | +2.32% | +1.93% | +0.99% |
| L&T Finance Ltd. | Financial | 0.52% | ₹142 Cr | — | — | +0.51% |
| IIFL Capital Services Ltd | Financial | 0.45% | ₹123 Cr | +0.43% | — | — |
| Maharashtra State | Others | 0.36% | ₹101 Cr | — | — | +0.12% |
| Birla Group Holdings Pvt. Ltd. | Financial | 0.35% | ₹97.59 Cr | +0.34% | +0.33% | +0.20% |
| DSP Finance Pvt Ltd. | Financial | 0.35% | ₹96.55 Cr | +0.34% | +0.33% | — |
| Kotak Mahindra Bank Ltd. | Financial | 0.35% | ₹97.61 Cr | +1.55% | +0.26% | +0.79% |
| LIC Housing Finance Ltd. | Financial | 0.35% | ₹97.55 Cr | — | — | +1.31% |
| Motilal Oswal Financial Services Ltd. | Financial | 0.35% | ₹97.51 Cr | — | — | +0.52% |
| Muthoot Finance Ltd. | Financial | 0.35% | ₹97.01 Cr | +0.17% | +0.17% | +0.13% |
| National Bank For Financing Infrastructure And Development | Financial | 0.35% | ₹97.04 Cr | +0.85% | +0.83% | — |
| Sundaram Home Finance Ltd. | Financial | 0.35% | ₹97.28 Cr | — | — | — |
| Tata Realty and Infrastructure Ltd. | Construction | 0.35% | ₹97.66 Cr | +0.34% | +0.33% | — |
| AU Small Finance Bank Ltd. | Financial | 0.34% | ₹93.34 Cr | +0.84% | +0.82% | +0.52% |
| Indian Bank | Financial | 0.34% | ₹95.06 Cr | — | — | +0.13% |
| Bank Of Baroda | Financial | 0.27% | ₹73.63 Cr | +0.69% | +0.68% | +0.07% |
| Gujarat State | Construction | 0.27% | ₹75.61 Cr | +0.27% | +0.71% | +0.01% |
| IGH Holdings Pvt. Ltd. | Communication | 0.26% | ₹72.53 Cr | +0.25% | +0.25% | +0.27% |
| Axis Finance Ltd. | Financial | 0.18% | ₹48.99 Cr | — | — | — |
| HSBC InvestDirect Financial Services India Ltd. | Financial | 0.18% | ₹48.50 Cr | +0.17% | +0.17% | +0.26% |
| Tamilnadu State | Others | 0.18% | ₹50.33 Cr | +0.18% | — | +0.30% |
| Export-Import Bank Of India | Financial | 0.14% | ₹38.90 Cr | +0.69% | +1.67% | +1.45% |
| Others | Others | -4.18% | ₹-1,150.82 Cr | +0.99% | +0.96% | +0.72% |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| Small Industries Devp. Bank of India Ltd. | 2.49% | 0.09% | -2.40% |
| Reserve Bank of India | 0.59% | 1.79% | +1.20% |
| Punjab National Bank | 0.66% | 1.41% | +0.75% |
| Export-Import Bank Of India | 0.87% | 0.14% | -0.73% |
| Bajaj Financial Securities Ltd. | 0.00% | 0.71% | +0.71% |
| Axis Bank Ltd. | 1.39% | 0.70% | -0.69% |
| Indian Overseas Bank | 2.92% | 3.53% | +0.61% |
| Indusind Bank Ltd. | 2.93% | 3.53% | +0.60% |
| Hero FinCorp Ltd. | 0.00% | 0.53% | +0.53% |
| company:720 | 0.44% | 0.00% | -0.44% |
| National Bank For Agriculture & Rural Development | 2.13% | 2.57% | +0.44% |
| Punjab & Sind Bank | 1.90% | 2.29% | +0.39% |
| National Bank For Financing Infrastructure And Development | 0.73% | 0.35% | -0.38% |
| Bank of Maharashtra | 1.47% | 1.78% | +0.31% |
| Mindspace Business Parks REIT | 1.46% | 1.77% | +0.31% |
| Union Bank of India | 0.22% | 0.53% | +0.31% |
| LIC Housing Finance Ltd. GDR/GDS | 1.46% | 1.76% | +0.30% |
| Yes Bank Ltd. | 1.46% | 1.76% | +0.30% |
| company:1570 | 0.29% | 0.00% | -0.29% |
| company:4789 | 0.29% | 0.00% | -0.29% |
| Bank of India | 1.31% | 1.59% | +0.28% |
| Embassy Office Parks REIT | 1.09% | 1.31% | +0.22% |
| Kotak Mahindra Securities Ltd. | 1.02% | 1.23% | +0.21% |
| UCO Bank | 0.85% | 1.03% | +0.18% |
| Bank Of Baroda | 0.43% | 0.27% | -0.16% |
| Aditya Birla Housing Finance Ltd. | 0.73% | 0.88% | +0.15% |
| Bharti Telecom Ltd. | 0.73% | 0.88% | +0.15% |
| ICICI Securities Ltd. | 0.73% | 0.88% | +0.15% |
| IDBI Bank Ltd. | 0.73% | 0.88% | +0.15% |
| Tata Capital Housing Finance Ltd. | 0.74% | 0.89% | +0.15% |
| Infina Finance Pvt. Ltd. | 0.58% | 0.71% | +0.13% |
| JM Financial Services Pvt. Ltd. | 0.58% | 0.71% | +0.13% |
| Muthoot Fincorp Ltd. | 0.58% | 0.71% | +0.13% |
| AU Small Finance Bank Ltd. Pref. Shares | 0.59% | 0.71% | +0.12% |
| Aditya Birla Capital Ltd. | 0.65% | 0.53% | -0.12% |
| Pilani Investment And Industries Corporation Ltd. | 0.51% | 0.62% | +0.11% |
| Kotak Mahindra Bank Ltd. | 0.44% | 0.35% | -0.09% |
| L&T Finance Ltd. | 0.43% | 0.52% | +0.09% |
| Indian Bank | 0.43% | 0.34% | -0.09% |
| IIFL Capital Services Ltd | 0.37% | 0.45% | +0.08% |
| AU Small Finance Bank Ltd. | 0.28% | 0.34% | +0.06% |
| Birla Group Holdings Pvt. Ltd. | 0.29% | 0.35% | +0.06% |
| DSP Finance Pvt Ltd. | 0.29% | 0.35% | +0.06% |
| LIC Housing Finance Ltd. | 0.29% | 0.35% | +0.06% |
| Maharashtra State | 0.30% | 0.36% | +0.06% |
| Motilal Oswal Financial Services Ltd. | 0.29% | 0.35% | +0.06% |
| Muthoot Finance Ltd. | 0.29% | 0.35% | +0.06% |
| Others | 0.28% | 0.34% | +0.06% |
| Sundaram Home Finance Ltd. | 0.29% | 0.35% | +0.06% |
| Tata Realty and Infrastructure Ltd. | 0.29% | 0.35% | +0.06% |
| Bajaj Finance Ltd. | 1.90% | 1.94% | +0.04% |
| Gujarat State | 0.23% | 0.27% | +0.04% |
| IGH Holdings Pvt. Ltd. | 0.22% | 0.26% | +0.04% |
| Canara Bank | 1.00% | 1.03% | +0.03% |
| Axis Finance Ltd. | 0.15% | 0.18% | +0.03% |
| HSBC InvestDirect Financial Services India Ltd. | 0.15% | 0.18% | +0.03% |
| Tamilnadu State | 0.15% | 0.18% | +0.03% |
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 | ₹13,857 Cr | 0.34% | 6.5% | 6.8% | 7.0% |
 Aditya Birla Sun Life Money Market Fund | ₹25,875 Cr | 0.37% | 6.5% | 6.9% | 7.0% |
 Axis Money Market Fund | ₹19,507 Cr | 0.36% | 6.5% | 6.9% | 7.0% |
 UTI Money Market Fund | ₹16,039 Cr | 0.29% | 6.5% | 6.9% | 7.0% |
 LIC MF Money Market Fund | ₹3,979 Cr | 0.38% | 6.4% | 6.4% | — |
 Franklin India Money Market Fund | ₹3,887 Cr | 0.30% | 6.5% | 6.9% | 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 months3.27% absolute | ₹60,000 | ₹61,962 | 3.27% | |
| 1 year6.24% annualised | ₹1,20,000 | ₹1,24,134 | 3.45% | |
| 3 years7.14% annualised | ₹3,60,000 | ₹4,02,523 | 11.81% | |
| 5 years6.59% annualised | ₹6,00,000 | ₹7,12,273 | 18.71% |
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 ₹6,219.34 as on 9 Nov 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 6.3% over 1 year, 6.8% over 3 years and 6.9% 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 86 schemes with ₹9,96,954 Cr under management.