HDFC Retirement Fund - Hybrid Equity Plan
Retirement SolutionsVery HighOPEN-ENDED
- NAV as on 6 Nov 2026
- ₹37.49+1.01%1 day
- Return since launch
- 13.1%
- 52-week range
- ₹34.85 — ₹39.77
- AUM
- ₹1,530 Cr
HDFC Retirement Fund - Hybrid Equity Plan is a Retirement Solutions hybrid fund from HDFC Mutual Fund with ₹1,530 Cr under management, launched in 2016. Over three years it has returned 1.6% a year, against 8.6% for its category. The expense ratio is 2.13% and the SEBI riskometer reading is Very High.
Performance
HDFC Retirement Fund - Hybrid Equity Plan NAV and returns
Growth of the fund against its category average over the period you pick.
Over 1Y this fund returned -3.9% against +0.3% for its category.
Performance
Returns
How the fund has done against its category and its benchmark.
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1Y | 0.0% | −1.4 pts | 1.4% | 3.0% |
| 2Y | -0.1% | −4.3 pts | 4.2% | 3.3% |
| 3Y | 1.6% | −7.0 pts | 8.6% | 4.5% |
| 5Y | 6.8% | −0.3 pts | 7.0% | 7.3% |
| 7Y | 9.9% | +0.4 pts | 9.5% | 8.2% |
| 10Y | 10.6% | +2.3 pts | 8.3% | 8.3% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | 4.9% | +1.7 pts | 3.2% | 3.7% |
| 3M | -0.8% | −0.1 pts | -0.7% | -0.7% |
| 6M | 0.3% | −1.7 pts | 1.9% | 2.9% |
| 1Y | -3.9% | −5.2 pts | 1.4% | 0.1% |
| 2Y | -1.0% | −3.9 pts | 2.9% | 3.3% |
| 3Y | 7.2% | −1.4 pts | 8.6% | 8.5% |
| 5Y | 8.0% | +0.9 pts | 7.0% | 7.0% |
| 7Y | 12.0% | +2.0 pts | 9.9% | 9.0% |
| 10Y | 11.3% | +3.0 pts | 8.3% | 8.3% |
Since launch (5 Feb 2016): 13.1%
Calendar-year returns
Category average17.4%
24.6%
4.8%
24.9%
13.9%
5.4%
Show as a table
| Period | Fund | vs category | Category |
|---|---|---|---|
| 2025 | 5.4% | −1.1 pts | 6.5% |
| 2024 | 13.9% | −0.9 pts | 14.8% |
| 2023 | 24.9% | +6.3 pts | 18.6% |
| 2022 | 4.8% | +2.4 pts | 2.4% |
| 2021 | 24.6% | +9.6 pts | 15.0% |
| 2020 | 17.4% | +2.9 pts | 14.5% |
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
2.13%
Expense ratio as on 4 Nov 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 1.81%
- Brokerage
- 0.01%
- Transaction charges
- 0.00%
- Statutory levies
- 0.31%
- 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 50 Hybrid Composite Debt 65:35
Risk
Risk
What the riskometer means for this fund, and how its ratios sit against the category.
Very High
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 | — | — | 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 | 0.09 | 0.40 | Return earned for each unit of total risk taken. Higher is better. |
| Sortino | 0.12 | 0.54 | Return earned for each unit of downside risk. Higher is better. |
| Std. deviation | 10.88 | 13.28 | How widely monthly returns have varied around their own average. Lower is steadier. |
| Average of 5 category peers | |||
Portfolio
HDFC Retirement Fund - Hybrid Equity Plan portfolio
Portfolio as of 30 Sep 2026
Asset allocation
- Equity70.0%
- Debt17.6%
- Other12.5%
Market cap split
- Large64.0%
- Mid9.2%
- Small26.8%
- P/E
- 19.96
- P/B
- 2.61
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| Others | Others | 11.46% | ₹175 Cr | +1.12% | +1.50% | +0.92% |
| ICICI Bank Ltd. | Financial | 6.05% | ₹92.52 Cr | +5.97% | +5.48% | +5.61% |
| HDFC Bank Ltd. | Financial | 5.56% | ₹85.04 Cr | +5.93% | +5.70% | +6.79% |
| Bajaj Finance Ltd. | Financial | 4.46% | ₹68.29 Cr | +4.36% | +4.57% | +4.26% |
| Kotak Mahindra Bank Ltd. | Financial | 3.54% | ₹54.21 Cr | +3.16% | +2.75% | +2.25% |
| Reliance Industries Ltd. | Energy | 3.49% | ₹53.42 Cr | +3.61% | +3.49% | +3.25% |
| Axis Bank Ltd. | Financial | 3.21% | ₹49.04 Cr | +3.34% | +3.02% | +2.69% |
| State Bank of India | Financial | 3.14% | ₹47.98 Cr | +3.18% | +3.18% | +2.60% |
| Maruti Suzuki India Ltd. | Automobile | 2.35% | ₹35.90 Cr | +2.62% | +2.40% | +2.86% |
| Bharti Airtel Ltd. | Communication | 2.30% | ₹35.14 Cr | +2.30% | +2.31% | +2.24% |
| Power Grid Corporation Of India Ltd. | Energy | 2.03% | ₹31.08 Cr | +3.54% | +3.84% | +2.34% |
| Infosys Ltd. | Technology | 1.95% | ₹29.82 Cr | +1.86% | +2.44% | +2.14% |
| Larsen & Toubro Ltd. | Construction | 1.84% | ₹28.20 Cr | +1.93% | +1.71% | +1.63% |
| Dr. Lal Pathlabs Ltd. | Healthcare | 1.69% | ₹25.83 Cr | +1.33% | +1.11% | +1.21% |
| HCL Technologies Ltd. | Technology | 1.61% | ₹24.60 Cr | +1.33% | +1.74% | +1.65% |
| Bajaj Housing Finance Ltd. | Financial | 1.55% | ₹23.66 Cr | +1.53% | +1.59% | +1.49% |
| City Union Bank Ltd. | Financial | 1.38% | ₹21.10 Cr | +1.21% | +1.09% | +0.89% |
| ITC Ltd. | Consumer Staples | 1.20% | ₹18.39 Cr | +1.24% | +1.31% | +1.67% |
| Sun Pharmaceutical Industries Ltd. | Healthcare | 1.19% | ₹18.17 Cr | +1.15% | — | — |
| SBI Life Insurance Company Ltd. | Insurance | 1.11% | ₹16.96 Cr | +0.82% | +0.87% | +0.64% |
| ICICI Lombard General Insurance Company Ltd. | Insurance | 1.04% | ₹15.90 Cr | +1.08% | +1.11% | +1.12% |
| Max Financial Services Ltd. | Financial | 1.03% | ₹15.79 Cr | +1.13% | +1.11% | +1.08% |
| Alkem Laboratories Ltd. | Healthcare | 1.01% | ₹15.49 Cr | +1.04% | +1.03% | +0.97% |
| Embassy Office Parks REIT | Construction | 0.99% | ₹15.20 Cr | +0.95% | +0.96% | +0.88% |
| Mahindra Rural Housing Finance Ltd. | Financial | 0.98% | ₹15.06 Cr | +0.95% | +1.00% | +0.92% |
| Gland Pharma Ltd. | Healthcare | 0.95% | ₹14.50 Cr | +0.77% | +0.63% | +0.68% |
| Suprajit Engineering Ltd. | Automobile | 0.93% | ₹14.29 Cr | +0.85% | +0.77% | +0.82% |
| Vedant Fashions Ltd. | Services | 0.90% | ₹13.74 Cr | — | — | — |
| Cipla Ltd. | Healthcare | 0.88% | ₹13.46 Cr | +0.91% | +0.79% | +1.79% |
| Havells India Ltd. | Capital Goods | 0.86% | ₹13.21 Cr | +0.93% | +0.89% | +1.03% |
| Bajaj Auto Ltd. | Automobile | 0.85% | ₹13.05 Cr | +0.99% | +1.43% | +1.29% |
| GOI | Sovereign | 0.84% | ₹12.78 Cr | +0.81% | +0.83% | +0.78% |
| Tata Steel Ltd. | Metals & Mining | 0.84% | ₹12.90 Cr | +0.82% | +0.87% | +0.80% |
| CreditAccess Grameen Ltd. | Financial | 0.83% | ₹12.72 Cr | +0.92% | +0.75% | +0.81% |
| Vesuvius India Ltd. | Capital Goods | 0.83% | ₹12.73 Cr | +0.85% | +0.85% | +0.92% |
| United Spirits Ltd. | Consumer Staples | 0.80% | ₹12.19 Cr | +0.75% | +0.71% | +0.47% |
| NTPC Ltd. | Energy | 0.74% | ₹11.30 Cr | +0.77% | +0.84% | — |
| PVR Inox Ltd. | Services | 0.71% | ₹10.92 Cr | +0.53% | +0.53% | +0.32% |
| Balkrishna Industries Ltd. | Automobile | 0.69% | ₹10.59 Cr | +0.68% | +0.68% | — |
| SKF India Ltd. | Capital Goods | 0.69% | ₹10.57 Cr | +0.73% | +0.64% | +0.62% |
| HDFC Life Insurance Co Ltd. | Insurance | 0.68% | ₹10.42 Cr | +0.71% | +0.77% | +0.90% |
| Kalpataru Projects International Ltd. | Capital Goods | 0.67% | ₹10.31 Cr | +0.63% | +0.62% | +0.67% |
| GNA Axles Ltd. | Automobile | 0.63% | ₹9.57 Cr | +0.44% | +0.37% | +0.29% |
| Transport Corporation Of India Ltd. | Services | 0.63% | ₹9.60 Cr | +0.63% | +0.66% | +0.77% |
| Blue Dart Express Ltd. | Services | 0.61% | ₹9.26 Cr | +0.60% | +0.62% | +0.51% |
| Huhtamaki India Ltd. | Materials | 0.59% | ₹9.08 Cr | +0.47% | +0.37% | — |
| Hindustan Petroleum Corporation Ltd. | Energy | 0.57% | ₹8.76 Cr | +0.61% | +0.54% | +0.66% |
| Godrej Consumer Products Ltd. | Consumer Staples | 0.56% | ₹8.50 Cr | +0.63% | +0.51% | +0.69% |
| Voltamp Transformers Ltd. | Capital Goods | 0.55% | ₹8.40 Cr | +0.64% | +0.62% | +0.47% |
| Delhivery Ltd. | Services | 0.54% | ₹8.19 Cr | +0.59% | +0.54% | +0.54% |
| Garware Technical Fibres Ltd. | Textiles | 0.54% | ₹8.33 Cr | — | — | — |
| Equitas Small Finance Bank Ltd. | Financial | 0.52% | ₹7.96 Cr | +0.54% | +0.39% | +0.39% |
| CIE Automotive India Ltd. | Metals & Mining | 0.51% | ₹7.73 Cr | +0.57% | +0.58% | +0.48% |
| UTI Asset Management Company Ltd. | Financial | 0.46% | ₹7.06 Cr | +0.46% | +0.49% | +0.62% |
| Escorts Kubota Ltd. | Automobile | 0.44% | ₹6.79 Cr | +0.45% | +0.44% | — |
| West Coast Paper Mills Ltd. | Consumer Staples | 0.44% | ₹6.67 Cr | — | — | — |
| Zensar Technologies Ltd. | Technology | 0.41% | ₹6.33 Cr | +0.40% | +0.50% | — |
| SKF India (Industrial) Ltd. | Capital Goods | 0.40% | ₹6.09 Cr | +0.39% | +0.30% | — |
| Eris Lifesciences Ltd. | Healthcare | 0.39% | ₹5.96 Cr | +0.44% | +0.42% | — |
| Sonata Software Ltd. | Technology | 0.38% | ₹5.81 Cr | +0.37% | +0.31% | +0.46% |
| Bayer CropScience Ltd. | Chemicals | 0.36% | ₹5.44 Cr | +0.39% | +0.45% | +0.43% |
| Goodyear India Ltd. | Automobile | 0.36% | ₹5.45 Cr | +0.37% | +0.34% | +0.47% |
| The Anup Engineering Ltd. | Capital Goods | 0.31% | ₹4.79 Cr | +0.43% | +0.42% | +0.56% |
| Tamil Nadu Newsprint & Papers Ltd. | Consumer Staples | 0.25% | ₹3.88 Cr | +0.32% | +0.28% | +0.33% |
| Alembic Pharmaceuticals Ltd. | Healthcare | 0.21% | ₹3.26 Cr | +0.64% | +0.54% | +0.67% |
| GSPL Transmission Ltd. | Energy | 0.07% | ₹1.00 Cr | — | — | — |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| Tata Consultancy Services Ltd. | 2.24% | 0.00% | -2.24% |
| Vedant Fashions Ltd. | 0.19% | 0.90% | +0.71% |
| The Ramco Cements Ltd. | 0.55% | 0.00% | -0.55% |
| Crompton Greaves Consumer Electricals Ltd. | 0.51% | 0.00% | -0.51% |
| Alembic Pharmaceuticals Ltd. | 0.65% | 0.21% | -0.44% |
| West Coast Paper Mills Ltd. | 0.00% | 0.44% | +0.44% |
| Timken India Ltd. | 0.39% | 0.00% | -0.39% |
| Finolex Industries Ltd. | 0.30% | 0.00% | -0.30% |
| ICICI Bank Ltd. | 6.35% | 6.05% | -0.30% |
| HDFC Bank Ltd. | 5.31% | 5.56% | +0.25% |
| Maruti Suzuki India Ltd. | 2.53% | 2.35% | -0.18% |
| Infosys Ltd. | 2.12% | 1.95% | -0.17% |
| State Bank of India | 3.30% | 3.14% | -0.16% |
| Bajaj Finance Ltd. | 4.31% | 4.46% | +0.15% |
| Havells India Ltd. | 1.01% | 0.86% | -0.15% |
| Kotak Mahindra Bank Ltd. | 3.40% | 3.54% | +0.14% |
| Dr. Lal Pathlabs Ltd. | 1.57% | 1.69% | +0.12% |
| Others | 0.48% | 0.37% | -0.11% |
| Max Financial Services Ltd. | 1.13% | 1.03% | -0.10% |
| Garware Technical Fibres Ltd. | 0.45% | 0.54% | +0.09% |
| GNA Axles Ltd. | 0.54% | 0.63% | +0.09% |
| Reliance Industries Ltd. | 3.58% | 3.49% | -0.09% |
| ITC Ltd. | 1.12% | 1.20% | +0.08% |
| Vesuvius India Ltd. | 0.76% | 0.83% | +0.07% |
| Bajaj Auto Ltd. | 0.91% | 0.85% | -0.06% |
| ICICI Lombard General Insurance Company Ltd. | 0.98% | 1.04% | +0.06% |
| Power Grid Corporation Of India Ltd. | 1.64% | 1.70% | +0.06% |
| Sun Pharmaceutical Industries Ltd. | 1.24% | 1.19% | -0.05% |
| Gland Pharma Ltd. | 0.90% | 0.95% | +0.05% |
| City Union Bank Ltd. | 1.33% | 1.38% | +0.05% |
| Larsen & Toubro Ltd. | 1.89% | 1.84% | -0.05% |
| Bajaj Housing Finance Ltd. | 1.51% | 1.55% | +0.04% |
| Bharti Airtel Ltd. | 2.26% | 2.30% | +0.04% |
| Huhtamaki India Ltd. | 0.63% | 0.59% | -0.04% |
| Mahindra Rural Housing Finance Ltd. | 0.94% | 0.98% | +0.04% |
| PVR Inox Ltd. | 0.67% | 0.71% | +0.04% |
| Tata Steel Ltd. | 0.80% | 0.84% | +0.04% |
| United Spirits Ltd. | 0.84% | 0.80% | -0.04% |
| Axis Bank Ltd. | 3.24% | 3.21% | -0.03% |
| Embassy Office Parks REIT | 0.96% | 0.99% | +0.03% |
| NTPC Ltd. | 0.71% | 0.74% | +0.03% |
| The Anup Engineering Ltd. | 0.34% | 0.31% | -0.03% |
| Transport Corporation Of India Ltd. | 0.60% | 0.63% | +0.03% |
| UTI Asset Management Company Ltd. | 0.43% | 0.46% | +0.03% |
| Bajaj Electricals Ltd. | 0.03% | 0.00% | -0.03% |
| Escorts Kubota Ltd. | 0.47% | 0.44% | -0.03% |
| Sonata Software Ltd. | 0.41% | 0.38% | -0.03% |
| Delhivery Ltd. | 0.57% | 0.54% | -0.03% |
| GOI | 0.81% | 0.84% | +0.03% |
| HCL Technologies Ltd. | 1.64% | 1.61% | -0.03% |
| Balkrishna Industries Ltd. | 0.71% | 0.69% | -0.02% |
| CIE Automotive India Ltd. | 0.49% | 0.51% | +0.02% |
| CreditAccess Grameen Ltd. | 0.85% | 0.83% | -0.02% |
| Kalpataru Projects International Ltd. | 0.65% | 0.67% | +0.02% |
| SBI Life Insurance Company Ltd. | 1.09% | 1.11% | +0.02% |
| Zensar Technologies Ltd. | 0.43% | 0.41% | -0.02% |
| Tamil Nadu Newsprint & Papers Ltd. | 0.23% | 0.25% | +0.02% |
| Alkem Laboratories Ltd. | 1.00% | 1.01% | +0.01% |
| Bayer CropScience Ltd. | 0.37% | 0.36% | -0.01% |
| Equitas Small Finance Bank Ltd. | 0.53% | 0.52% | -0.01% |
| Eris Lifesciences Ltd. | 0.40% | 0.39% | -0.01% |
| Voltamp Transformers Ltd. | 0.54% | 0.55% | +0.01% |
| SKF India (Industrial) Ltd. | 0.41% | 0.40% | -0.01% |
| SKF India Ltd. | 0.68% | 0.69% | +0.01% |
| Blue Dart Express Ltd. | 0.61% | 0.61% | 0.00% |
| Cipla Ltd. | 0.88% | 0.88% | 0.00% |
| GSPL Transmission Ltd. | 0.07% | 0.07% | 0.00% |
| Godrej Consumer Products Ltd. | 0.56% | 0.56% | 0.00% |
| Goodyear India Ltd. | 0.36% | 0.36% | 0.00% |
| HDFC Life Insurance Co Ltd. | 0.68% | 0.68% | 0.00% |
| Hindustan Petroleum Corporation Ltd. | 0.57% | 0.57% | 0.00% |
| Suprajit Engineering Ltd. | 0.93% | 0.93% | 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 | ₹886 Cr | 2.42% | 5.4% | 6.0% | 9.7% |
 Tata Retirement Savings Moderate Fund | ₹2,115 Cr | 2.16% | 8.2% | 6.6% | 10.0% |
 ICICI Prudential Retirement Fund - Hybrid Aggressive Plan | ₹1,268 Cr | 2.45% | 0.6% | 7.3% | 12.8% |
 Axis Retirement Fund - Aggressive Plan | ₹666 Cr | 2.49% | 5.7% | 4.6% | 8.0% |
| Axis Retirement Fund - Dynamic Plan | ₹269 Cr | 2.56% | 6.7% | 4.9% | 8.6% |
 Aditya Birla Sun Life Retirement Fund - The 40s Plan | ₹110 Cr | 2.42% | 6.0% | 6.4% | 9.1% |
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 months0.25% absolute | ₹60,000 | ₹60,150 | 0.25% | |
| 1 year−3.86% annualised | ₹1,20,000 | ₹1,17,520 | −2.07% | |
| 3 years7.19% annualised | ₹3,60,000 | ₹4,02,842 | 11.90% | |
| 5 years7.99% annualised | ₹6,00,000 | ₹7,39,468 | 23.24% |
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 Retirement Fund - Hybrid Equity Plan?
The NAV of HDFC Retirement Fund - Hybrid Equity Plan is ₹37.49 as on 6 Nov 2026.
What is the expense ratio of HDFC Retirement Fund - Hybrid Equity Plan?
The expense ratio of HDFC Retirement Fund - Hybrid Equity Plan is 2.13% per year.
What is the minimum SIP amount for HDFC Retirement Fund - Hybrid Equity Plan?
You can start a SIP in HDFC Retirement Fund - Hybrid Equity Plan with ₹3,000 a month.
What returns has HDFC Retirement Fund - Hybrid Equity Plan given?
HDFC Retirement Fund - Hybrid Equity Plan has returned -0.0% over 1 year, 1.6% over 3 years and 6.8% over 5 years (annualised).
Is there a lock-in or exit load on HDFC Retirement Fund - Hybrid Equity Plan?
Lock-in: 5 years. Exit load: Exit load of 1% if units are redeemed before completion of 60 years of age..
How risky is HDFC Retirement Fund - Hybrid Equity Plan?
HDFC Retirement Fund - Hybrid Equity Plan is rated Very High on the SEBI riskometer and belongs to the Retirement Solutions category.
Which fund house manages HDFC Retirement Fund - Hybrid Equity Plan?
HDFC Retirement Fund - Hybrid Equity Plan is managed by HDFC Mutual Fund, which runs 86 schemes with ₹9,96,954 Cr under management.