HDFC Retirement Fund - Equity Plan
- NAV as on 25 Sep 2026
- ₹47.31+0.29%1 day
- Return since launch
- 15.8%
- 52-week range
- ₹44.72 — ₹52.22
- AUM
- ₹6,998 Cr
HDFC Retirement Fund - Equity Plan is a Retirement Solutions equity fund from HDFC Mutual Fund with ₹6,998 Cr under management, launched in 2016. Over three years it has returned 0.2% a year, against 11.6% for its category. The expense ratio is 1.88% and the SEBI riskometer reading is Very High.
Performance
HDFC Retirement Fund - Equity Plan NAV and returns
Growth of the fund against its category average over the period you pick.
Over 1Y this fund returned -5.5% against +3.2% for its category.
Performance
Returns
How the fund has done against its category and its benchmark.
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1Y | -7.7% | −11.4 pts | 3.6% | 2.5% |
| 2Y | -3.8% | −6.3 pts | 2.5% | 3.2% |
| 3Y | 0.2% | −11.4 pts | 11.6% | 4.9% |
| 5Y | 8.1% | −2.7 pts | 10.8% | 9.8% |
| 7Y | 13.5% | +3.9 pts | 9.6% | 12.3% |
| 10Y | 13.7% | +1.8 pts | 11.8% | 11.8% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | -3.9% | −0.1 pts | -3.8% | -3.2% |
| 3M | -2.0% | −1.7 pts | -0.3% | -0.1% |
| 6M | 3.5% | −7.7 pts | 11.3% | 11.0% |
| 1Y | -5.5% | −9.2 pts | 3.6% | 3.0% |
| 2Y | -5.5% | −5.8 pts | 0.3% | -1.9% |
| 3Y | 8.0% | −3.7 pts | 11.6% | 10.0% |
| 5Y | 10.4% | −0.4 pts | 10.8% | 9.4% |
| 7Y | 15.9% | +5.8 pts | 10.1% | 13.1% |
| 10Y | 13.6% | +1.7 pts | 11.8% | 11.3% |
Since launch (5 Feb 2016): 15.8%
Calendar-year returns
Category averageShow as a table
| Period | Fund | vs category | Category |
|---|---|---|---|
| 2025 | 5.2% | −1.6 pts | 6.8% |
| 2024 | 17.8% | −2.0 pts | 19.8% |
| 2023 | 32.6% | +1.1 pts | 31.5% |
| 2022 | 8.6% | +4.4 pts | 4.1% |
| 2021 | 42.5% | +9.2 pts | 33.3% |
| 2020 | 18.3% | +4.8 pts | 13.5% |
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
1.88%
Expense ratio as on 24 Sep 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 1.55%
- Brokerage
- 0.01%
- Transaction charges
- 0.00%
- Statutory levies
- 0.32%
- Exit load
- Exit load of 1% if units are redeemed before completion of 60 years of age.
- Lock-in
- 5 years
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.
Your principal is treated as being at very high risk — typically small cap, sectoral and thematic equity schemes.
| Ratio | Fund | Category avg | Read as |
|---|---|---|---|
| Alpha | -1.67 | 2.55 | Return earned above what the benchmark alone would have given. Higher is better. |
| Beta | 0.86 | 0.97 | How hard the fund moves when the market moves. Under 1 is steadier than the market. |
| Sharpe | 0.32 | 0.60 | Return earned for each unit of total risk taken. Higher is better. |
| Sortino | 0.40 | 0.80 | Return earned for each unit of downside risk. Higher is better. |
| Std. deviation | 13.21 | 15.35 | How widely monthly returns have varied around their own average. Lower is steadier. |
| Average of 5 category peers | |||
Portfolio
HDFC Retirement Fund - Equity Plan portfolio
Portfolio as of 31 Aug 2026
Asset allocation
- Equity94.5%
- Other5.5%
Market cap split
- Large67.9%
- Mid10.8%
- Small21.4%
- P/E
- 21.20
- P/B
- 2.93
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| ICICI Bank Ltd. | Financial | 7.69% | ₹538 Cr | +6.79% | +6.31% | +6.79% |
| HDFC Bank Ltd. | Financial | 6.59% | ₹461 Cr | +6.88% | +7.62% | +8.67% |
| Others | Others | 4.91% | ₹345 Cr | +0.06% | -0.70% | -0.24% |
| Reliance Industries Ltd. | Energy | 4.74% | ₹332 Cr | +4.96% | +3.99% | +4.12% |
| Axis Bank Ltd. | Financial | 4.46% | ₹312 Cr | +4.64% | +4.75% | +3.81% |
| Kotak Mahindra Bank Ltd. | Financial | 4.20% | ₹294 Cr | +4.04% | +3.39% | +2.53% |
| Maruti Suzuki India Ltd. | Automobile | 3.07% | ₹215 Cr | +3.12% | +3.19% | +3.37% |
| State Bank of India | Financial | 3.03% | ₹212 Cr | +2.90% | +3.44% | +2.44% |
| Bharti Airtel Ltd. | Communication | 2.59% | ₹181 Cr | +2.75% | +2.69% | +3.16% |
| Infosys Ltd. | Technology | 2.43% | ₹170 Cr | +2.79% | +2.98% | +2.68% |
| Tata Consultancy Services Ltd. | Technology | 2.40% | ₹168 Cr | +2.37% | +2.64% | +2.81% |
| Larsen & Toubro Ltd. | Construction | 2.31% | ₹162 Cr | +2.45% | +2.45% | +2.05% |
| Dr. Lal Pathlabs Ltd. | Healthcare | 1.94% | ₹135 Cr | +1.69% | +1.40% | +1.50% |
| HCL Technologies Ltd. | Technology | 1.88% | ₹131 Cr | +1.78% | +1.99% | +1.88% |
| Interglobe Aviation Ltd. | Services | 1.87% | ₹131 Cr | +1.16% | +0.83% | +1.89% |
| Eicher Motors Ltd. | Automobile | 1.70% | ₹119 Cr | +1.62% | +1.72% | +1.39% |
| Power Grid Corporation Of India Ltd. | Energy | 1.69% | ₹119 Cr | +1.96% | +2.14% | +1.67% |
| ICICI Lombard General Insurance Company Ltd. | Insurance | 1.57% | ₹110 Cr | +1.48% | +1.36% | +1.40% |
| Eternal Ltd. | Services | 1.41% | ₹98.43 Cr | +1.13% | — | — |
| Max Financial Services Ltd. | Financial | 1.35% | ₹94.39 Cr | +1.51% | +1.30% | +1.22% |
| Havells India Ltd. | Capital Goods | 1.24% | ₹87.09 Cr | +1.24% | +1.40% | +1.39% |
| Alkem Laboratories Ltd. | Healthcare | 1.22% | ₹85.27 Cr | +1.32% | +1.21% | — |
| ITC Ltd. | Consumer Staples | 1.20% | ₹84.32 Cr | +1.42% | +1.48% | +2.05% |
| Jindal Steel Ltd. | Metals & Mining | 1.19% | ₹83.50 Cr | +1.27% | +1.25% | +1.01% |
| NTPC Ltd. | Energy | 1.17% | ₹81.85 Cr | +1.45% | +1.37% | — |
| HDFC Life Insurance Co Ltd. | Insurance | 1.16% | ₹81.50 Cr | +1.16% | +1.13% | +1.29% |
| Divi's Laboratories Ltd. | Healthcare | 1.08% | ₹75.74 Cr | +0.80% | — | — |
| CreditAccess Grameen Ltd. | Financial | 1.07% | ₹74.99 Cr | +1.07% | +1.00% | +1.06% |
| United Spirits Ltd. | Consumer Staples | 1.06% | ₹74.50 Cr | +0.95% | +0.99% | +0.76% |
| Bajaj Auto Ltd. | Automobile | 1.04% | ₹72.78 Cr | +1.29% | +1.93% | +1.77% |
| Delhivery Ltd. | Services | 1.04% | ₹72.99 Cr | +1.09% | +0.99% | +1.14% |
| Apollo Hospitals Enterprise Ltd. | Healthcare | 0.95% | ₹66.74 Cr | +0.92% | +0.84% | +0.87% |
| Hyundai Motor India Ltd. | Automobile | 0.95% | ₹66.15 Cr | +0.72% | +0.77% | — |
| HDFC Nifty 50 ETF-IDCW | Unclassified | 0.94% | ₹65.79 Cr | +0.96% | +0.98% | — |
| Tata Steel Ltd. | Metals & Mining | 0.92% | ₹64.52 Cr | +1.09% | +1.06% | +0.94% |
| Crisil Ltd. | Services | 0.90% | ₹62.68 Cr | +0.77% | +0.81% | +0.61% |
| Hindustan Petroleum Corporation Ltd. | Energy | 0.89% | ₹62.18 Cr | +1.01% | +1.07% | +1.03% |
| PVR Inox Ltd. | Services | 0.86% | ₹60.39 Cr | +0.72% | +0.66% | +0.47% |
| Transport Corporation Of India Ltd. | Services | 0.84% | ₹58.98 Cr | +0.94% | +0.98% | +1.18% |
| Balkrishna Industries Ltd. | Automobile | 0.81% | ₹56.98 Cr | +0.83% | +0.85% | — |
| Kalpataru Projects International Ltd. | Capital Goods | 0.80% | ₹56.04 Cr | +0.78% | +0.78% | +0.83% |
| Chalet Hotels Ltd. | Services | 0.78% | ₹54.24 Cr | +0.71% | +0.69% | — |
| Voltamp Transformers Ltd. | Capital Goods | 0.78% | ₹54.54 Cr | +0.86% | +0.85% | +0.77% |
| Redington Ltd. | Services | 0.77% | ₹53.66 Cr | +0.61% | +0.72% | +0.55% |
| Cipla Ltd. | Healthcare | 0.76% | ₹52.85 Cr | +0.79% | +0.96% | +2.41% |
| Gland Pharma Ltd. | Healthcare | 0.72% | ₹50.50 Cr | +0.78% | +0.91% | +0.99% |
| Godrej Consumer Products Ltd. | Consumer Staples | 0.71% | ₹49.57 Cr | +0.85% | +0.64% | +0.89% |
| Blue Dart Express Ltd. | Services | 0.70% | ₹49.24 Cr | +0.71% | +0.81% | +0.64% |
| Lupin Ltd. | Healthcare | 0.70% | ₹49.24 Cr | +0.94% | +1.48% | +1.09% |
| Prestige Estates Projects Ltd. | Construction | 0.70% | ₹48.99 Cr | +0.62% | +0.30% | +0.36% |
| The Ramco Cements Ltd. | Materials | 0.69% | ₹48.38 Cr | +0.72% | +0.89% | — |
| JSW Dulux Ltd. | Materials | 0.68% | ₹47.47 Cr | +0.71% | +0.63% | +0.65% |
| Star Health and Allied Insurance Company Ltd. | Insurance | 0.61% | ₹42.58 Cr | +0.59% | +0.50% | +0.51% |
| company:17104 | Services | 0.60% | ₹42.19 Cr | — | — | — |
| Embassy Office Parks REIT | Construction | 0.57% | ₹40.04 Cr | +0.59% | +0.56% | +0.77% |
| Timken India Ltd. | Capital Goods | 0.55% | ₹38.20 Cr | +0.66% | +0.60% | +0.31% |
| Gateway Distriparks Ltd. | Services | 0.54% | ₹37.65 Cr | +0.59% | +0.59% | +0.54% |
| Zensar Technologies Ltd. | Technology | 0.53% | ₹36.83 Cr | +0.59% | +0.65% | — |
| GNA Axles Ltd. | Automobile | 0.52% | ₹36.44 Cr | +0.38% | +0.40% | +0.31% |
| Chambal Fertilisers and Chemicals Ltd. | Chemicals | 0.50% | ₹34.81 Cr | +0.60% | +0.56% | +0.41% |
| VRL Logistics Ltd. | Services | 0.49% | ₹33.95 Cr | +0.39% | +0.44% | +0.45% |
| SKF India (Industrial) Ltd. | Capital Goods | 0.48% | ₹33.41 Cr | +0.36% | +0.41% | — |
| Equitas Small Finance Bank Ltd. | Financial | 0.42% | ₹29.59 Cr | +0.42% | +0.37% | +0.31% |
| Finolex Industries Ltd. | Materials | 0.41% | ₹28.39 Cr | +0.50% | +0.44% | +0.53% |
| Greenply Industries Ltd. | Materials | 0.41% | ₹29.02 Cr | +0.47% | +0.39% | +0.59% |
| Gujarat Energy Ltd. | Energy | 0.41% | ₹28.58 Cr | +0.69% | — | — |
| The Anup Engineering Ltd. | Capital Goods | 0.41% | ₹28.49 Cr | +0.55% | +0.45% | +0.67% |
| Tamil Nadu Newsprint & Papers Ltd. | Consumer Staples | 0.32% | ₹22.54 Cr | +0.36% | +0.31% | +0.39% |
| Bajaj Electricals Ltd. | Consumer Discretionary | 0.30% | ₹20.72 Cr | +0.33% | +0.37% | +0.60% |
| The Great Eastern Shipping Company Ltd. | Energy | 0.26% | ₹17.94 Cr | +0.53% | +0.57% | +0.42% |
| Symphony Ltd. | Consumer Discretionary | 0.23% | ₹15.78 Cr | +0.33% | +0.36% | +0.45% |
| PNC Infratech Ltd. | Construction | 0.21% | ₹14.78 Cr | +0.31% | +0.30% | +0.47% |
| GSPL Transmission Ltd. | Energy | 0.08% | ₹5.77 Cr | — | — | — |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| company:17104 | 0.00% | 0.60% | +0.60% |
| HDFC Bank Ltd. | 6.93% | 6.59% | -0.34% |
| Kotak Mahindra Bank Ltd. | 3.90% | 4.20% | +0.30% |
| Axis Bank Ltd. | 4.21% | 4.46% | +0.25% |
| Bharti Airtel Ltd. | 2.81% | 2.59% | -0.22% |
| CreditAccess Grameen Ltd. | 1.25% | 1.07% | -0.18% |
| Divi's Laboratories Ltd. | 0.92% | 1.08% | +0.16% |
| Infosys Ltd. | 2.58% | 2.43% | -0.15% |
| Maruti Suzuki India Ltd. | 3.21% | 3.07% | -0.14% |
| Others | 0.13% | -0.01% | -0.14% |
| PNC Infratech Ltd. | 0.35% | 0.21% | -0.14% |
| Power Grid Corporation Of India Ltd. | 1.82% | 1.69% | -0.13% |
| Godrej Consumer Products Ltd. | 0.84% | 0.71% | -0.13% |
| The Great Eastern Shipping Company Ltd. | 0.39% | 0.26% | -0.13% |
| ICICI Bank Ltd. | 7.57% | 7.69% | +0.12% |
| ITC Ltd. | 1.32% | 1.20% | -0.12% |
| Eternal Ltd. | 1.29% | 1.41% | +0.12% |
| Reliance Industries Ltd. | 4.85% | 4.74% | -0.11% |
| Greenply Industries Ltd. | 0.51% | 0.41% | -0.10% |
| Gland Pharma Ltd. | 0.62% | 0.72% | +0.10% |
| State Bank of India | 2.93% | 3.03% | +0.10% |
| Alkem Laboratories Ltd. | 1.31% | 1.22% | -0.09% |
| Chalet Hotels Ltd. | 0.69% | 0.78% | +0.09% |
| Crisil Ltd. | 0.81% | 0.90% | +0.09% |
| Jindal Steel Ltd. | 1.10% | 1.19% | +0.09% |
| The Anup Engineering Ltd. | 0.49% | 0.41% | -0.08% |
| Symphony Ltd. | 0.31% | 0.23% | -0.08% |
| Lupin Ltd. | 0.77% | 0.70% | -0.07% |
| Max Financial Services Ltd. | 1.28% | 1.35% | +0.07% |
| NTPC Ltd. | 1.24% | 1.17% | -0.07% |
| VRL Logistics Ltd. | 0.42% | 0.49% | +0.07% |
| Balkrishna Industries Ltd. | 0.88% | 0.81% | -0.07% |
| Voltamp Transformers Ltd. | 0.85% | 0.78% | -0.07% |
| Delhivery Ltd. | 1.10% | 1.04% | -0.06% |
| Kalpataru Projects International Ltd. | 0.74% | 0.80% | +0.06% |
| Larsen & Toubro Ltd. | 2.25% | 2.31% | +0.06% |
| Transport Corporation Of India Ltd. | 0.90% | 0.84% | -0.06% |
| Redington Ltd. | 0.83% | 0.77% | -0.06% |
| Bajaj Auto Ltd. | 0.99% | 1.04% | +0.05% |
| ICICI Lombard General Insurance Company Ltd. | 1.62% | 1.57% | -0.05% |
| JSW Dulux Ltd. | 0.63% | 0.68% | +0.05% |
| Hindustan Petroleum Corporation Ltd. | 0.94% | 0.89% | -0.05% |
| PVR Inox Ltd. | 0.81% | 0.86% | +0.05% |
| Zensar Technologies Ltd. | 0.58% | 0.53% | -0.05% |
| Blue Dart Express Ltd. | 0.74% | 0.70% | -0.04% |
| Dr. Lal Pathlabs Ltd. | 1.90% | 1.94% | +0.04% |
| Gujarat Energy Ltd. | 0.45% | 0.41% | -0.04% |
| HCL Technologies Ltd. | 1.92% | 1.88% | -0.04% |
| Tata Consultancy Services Ltd. | 2.36% | 2.40% | +0.04% |
| SKF India (Industrial) Ltd. | 0.44% | 0.48% | +0.04% |
| Gateway Distriparks Ltd. | 0.58% | 0.54% | -0.04% |
| Bajaj Electricals Ltd. | 0.33% | 0.30% | -0.03% |
| Chambal Fertilisers and Chemicals Ltd. | 0.53% | 0.50% | -0.03% |
| Cipla Ltd. | 0.79% | 0.76% | -0.03% |
| Interglobe Aviation Ltd. | 1.84% | 1.87% | +0.03% |
| Star Health and Allied Insurance Company Ltd. | 0.64% | 0.61% | -0.03% |
| The Ramco Cements Ltd. | 0.72% | 0.69% | -0.03% |
| Tata Steel Ltd. | 0.95% | 0.92% | -0.03% |
| Eicher Motors Ltd. | 1.68% | 1.70% | +0.02% |
| Havells India Ltd. | 1.26% | 1.24% | -0.02% |
| Tamil Nadu Newsprint & Papers Ltd. | 0.34% | 0.32% | -0.02% |
| United Spirits Ltd. | 1.08% | 1.06% | -0.02% |
| Hyundai Motor India Ltd. | 0.93% | 0.95% | +0.02% |
| Apollo Hospitals Enterprise Ltd. | 0.96% | 0.95% | -0.01% |
| Equitas Small Finance Bank Ltd. | 0.43% | 0.42% | -0.01% |
| Finolex Industries Ltd. | 0.42% | 0.41% | -0.01% |
| HDFC Life Insurance Co Ltd. | 1.17% | 1.16% | -0.01% |
| HDFC Nifty 50 ETF-IDCW | 0.95% | 0.94% | -0.01% |
| Prestige Estates Projects Ltd. | 0.69% | 0.70% | +0.01% |
| Timken India Ltd. | 0.54% | 0.55% | +0.01% |
| Embassy Office Parks REIT | 0.57% | 0.57% | 0.00% |
| GNA Axles Ltd. | 0.52% | 0.52% | 0.00% |
| GSPL Transmission Ltd. | 0.08% | 0.08% | 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 | ₹1,649 Cr | 2.38% | 5.0% | 7.6% | 12.4% |
| ₹3,127 Cr | 2.22% | -3.2% | 2.3% | 9.0% | |
| ₹2,255 Cr | 2.20% | 6.6% | 6.2% | 10.4% | |
| ₹2,158 Cr | 2.14% | 4.5% | 10.8% | 16.5% | |
| ₹487 Cr | 2.64% | 14.6% | 12.1% | 13.5% | |
| ₹216 Cr | 2.69% | 2.6% | 6.3% | — |
About
About this fund
The scheme’s own words, its benchmark and the people running it.
Investment objective
The Scheme seeks to provide long-term capital appreciation / income by investing in a mix of equity and debt instruments to help investors meet their retirement goals.
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.
- Anupam JoshiMr. Joshi is a PGDM in Business Management.Prior to joining HDFC Mutual Fund he has worked with IDFC AMC, Principal Asset Management Company and ICAP India Pvt. Ltd.
- Arun AgarwalMr. Agarwal is a B.Com. and Chartered AccountantPrior to joining HDFC Asset Management Company Limited, he has worked with SBI Funds Management Pvt. Ltd., ICICI Bank Limited, UTI Asset Management Pvt. Ltd.
- Chirag SetalvadMr. Setalvad is a B. Sc and MBA from University of North Carolina.Prior to joining HDFC AMC he has worked with New Vernon Advisory Services Ltd., HDFC AMC and ING Barings N.V.
- Nandita MenezesCA (ICAI, INDIA), B.Com (University of Mumbai)Prior to joining HDFC AMC, she was associated with S.V. Ghatalia & Associates LLP.
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 months3.55% absolute | ₹60,000 | ₹62,130 | 3.55% | |
| 1 year−5.50% annualised | ₹1,20,000 | ₹1,16,484 | −2.93% | |
| 3 years7.96% annualised | ₹3,60,000 | ₹4,07,798 | 13.28% | |
| 5 years10.38% annualised | ₹6,00,000 | ₹7,88,963 | 31.49% |
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.