HDFC Retirement Fund - Hybrid Equity Plan
- NAV as on 25 Sep 2026
- ₹36.19+0.19%1 day
- Return since launch
- 13.0%
- 52-week range
- ₹34.85 — ₹39.77
- AUM
- ₹1,604 Cr
HDFC Retirement Fund - Hybrid Equity Plan is a Retirement Solutions hybrid fund from HDFC Mutual Fund with ₹1,604 Cr under management, launched in 2016. Over three years it has returned -0.3% a year, against 8.0% for its category. The expense ratio is 2.12% 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 -5.7% 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 | -8.2% | −9.7 pts | 1.5% | -0.8% |
| 2Y | -4.0% | −6.5 pts | 2.5% | 1.5% |
| 3Y | -0.3% | −8.3 pts | 8.0% | 3.9% |
| 5Y | 5.9% | −1.1 pts | 7.0% | 7.0% |
| 7Y | 9.4% | −0.2 pts | 9.6% | 8.0% |
| 10Y | 10.2% | +2.1 pts | 8.1% | 8.1% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | -3.2% | −0.9 pts | -2.4% | -2.2% |
| 3M | -2.2% | −1.7 pts | -0.5% | -1.0% |
| 6M | 2.0% | −3.7 pts | 5.7% | 5.5% |
| 1Y | -5.7% | −7.2 pts | 1.5% | 0.2% |
| 2Y | -4.5% | −4.8 pts | 0.3% | 0.7% |
| 3Y | 6.0% | −2.0 pts | 8.0% | 8.0% |
| 5Y | 7.5% | +0.5 pts | 7.0% | 6.9% |
| 7Y | 11.6% | +1.5 pts | 10.1% | 8.8% |
| 10Y | 10.9% | +2.8 pts | 8.1% | 8.1% |
Since launch (5 Feb 2016): 13.0%
Calendar-year returns
Category averageShow 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 16 Sep 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.
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 | 0.17 | 0.56 | Return earned for each unit of total risk taken. Higher is better. |
| Sortino | 0.21 | 0.72 | Return earned for each unit of downside risk. Higher is better. |
| Std. deviation | 10.62 | 12.81 | 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 31 Aug 2026
Asset allocation
- Equity73.6%
- Debt17.0%
- Other9.4%
Market cap split
- Large64.6%
- Mid9.1%
- Small26.3%
- P/E
- 21.04
- P/B
- 2.84
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| Others | Others | 8.46% | ₹135 Cr | +1.20% | +1.34% | +0.74% |
| ICICI Bank Ltd. | Financial | 6.35% | ₹102 Cr | +5.52% | +5.66% | +5.90% |
| HDFC Bank Ltd. | Financial | 5.31% | ₹85.08 Cr | +5.61% | +6.25% | +6.88% |
| Bajaj Finance Ltd. | Financial | 4.31% | ₹69.20 Cr | +4.34% | +4.18% | — |
| Reliance Industries Ltd. | Energy | 3.58% | ₹57.47 Cr | +3.73% | +3.27% | +3.27% |
| Kotak Mahindra Bank Ltd. | Financial | 3.40% | ₹54.52 Cr | +3.14% | +2.68% | +2.24% |
| State Bank of India | Financial | 3.30% | ₹53.00 Cr | +3.03% | +3.53% | +2.42% |
| Axis Bank Ltd. | Financial | 3.24% | ₹52.00 Cr | +3.23% | +3.25% | +2.52% |
| Maruti Suzuki India Ltd. | Automobile | 2.53% | ₹40.64 Cr | +2.47% | +2.62% | +2.67% |
| Bharti Airtel Ltd. | Communication | 2.26% | ₹36.24 Cr | +2.30% | +2.21% | +2.28% |
| Tata Consultancy Services Ltd. | Technology | 2.24% | ₹35.99 Cr | +2.13% | +2.32% | +2.14% |
| Infosys Ltd. | Technology | 2.12% | ₹34.01 Cr | +2.19% | +2.29% | +1.83% |
| Power Grid Corporation Of India Ltd. | Energy | 1.95% | ₹31.40 Cr | +3.64% | +3.50% | +2.32% |
| Larsen & Toubro Ltd. | Construction | 1.89% | ₹30.34 Cr | +1.92% | +1.88% | +1.95% |
| HCL Technologies Ltd. | Technology | 1.64% | ₹26.24 Cr | +1.49% | +1.63% | +1.75% |
| Dr. Lal Pathlabs Ltd. | Healthcare | 1.57% | ₹25.15 Cr | +1.31% | +1.07% | +1.18% |
| Bajaj Housing Finance Ltd. | Financial | 1.51% | ₹24.17 Cr | +1.52% | +1.46% | +1.51% |
| City Union Bank Ltd. | Financial | 1.33% | ₹21.39 Cr | +1.12% | +1.16% | +0.83% |
| Sun Pharmaceutical Industries Ltd. | Healthcare | 1.24% | ₹19.85 Cr | — | — | — |
| Max Financial Services Ltd. | Financial | 1.13% | ₹18.09 Cr | +1.21% | +1.22% | +1.11% |
| ITC Ltd. | Consumer Staples | 1.12% | ₹17.89 Cr | +1.26% | +1.29% | +1.73% |
| SBI Life Insurance Company Ltd. | Insurance | 1.09% | ₹17.41 Cr | +0.86% | +0.90% | +0.65% |
| Havells India Ltd. | Capital Goods | 1.01% | ₹16.17 Cr | +0.96% | +0.94% | +1.06% |
| Alkem Laboratories Ltd. | Healthcare | 1.00% | ₹15.99 Cr | +1.04% | +0.99% | — |
| ICICI Lombard General Insurance Company Ltd. | Insurance | 0.98% | ₹15.67 Cr | +1.13% | +1.12% | +1.11% |
| Embassy Office Parks REIT | Construction | 0.96% | ₹15.35 Cr | +0.94% | +0.87% | +0.82% |
| Mahindra Rural Housing Finance Ltd. | Financial | 0.94% | ₹15.15 Cr | +0.95% | +0.91% | +0.93% |
| Suprajit Engineering Ltd. | Automobile | 0.93% | ₹14.95 Cr | +0.85% | +0.76% | +0.81% |
| Bajaj Auto Ltd. | Automobile | 0.91% | ₹14.56 Cr | +1.08% | +1.46% | +1.30% |
| Gland Pharma Ltd. | Healthcare | 0.90% | ₹14.43 Cr | +0.71% | +0.61% | +0.65% |
| Cipla Ltd. | Healthcare | 0.88% | ₹14.09 Cr | +0.88% | +0.79% | +1.92% |
| CreditAccess Grameen Ltd. | Financial | 0.85% | ₹13.64 Cr | +0.81% | +0.74% | +0.84% |
| United Spirits Ltd. | Consumer Staples | 0.84% | ₹13.41 Cr | +0.72% | +0.73% | +0.47% |
| GOI | Sovereign | 0.81% | ₹13.02 Cr | +0.81% | +1.51% | +0.79% |
| Tata Steel Ltd. | Metals & Mining | 0.80% | ₹12.90 Cr | +0.91% | +0.87% | +0.74% |
| Vesuvius India Ltd. | Capital Goods | 0.76% | ₹12.23 Cr | +0.88% | +0.88% | +0.91% |
| Balkrishna Industries Ltd. | Automobile | 0.71% | ₹11.40 Cr | +0.69% | +0.70% | — |
| NTPC Ltd. | Energy | 0.71% | ₹11.46 Cr | +0.85% | +0.78% | — |
| HDFC Life Insurance Co Ltd. | Insurance | 0.68% | ₹10.87 Cr | +0.75% | +0.84% | +0.93% |
| SKF India Ltd. | Capital Goods | 0.68% | ₹10.88 Cr | +0.72% | +0.71% | +0.59% |
| PVR Inox Ltd. | Services | 0.67% | ₹10.82 Cr | +0.54% | +0.54% | +0.34% |
| Alembic Pharmaceuticals Ltd. | Healthcare | 0.65% | ₹10.44 Cr | +0.58% | +0.52% | +0.71% |
| Kalpataru Projects International Ltd. | Capital Goods | 0.65% | ₹10.46 Cr | +0.61% | +0.65% | +0.68% |
| Huhtamaki India Ltd. | Materials | 0.63% | ₹10.06 Cr | +0.39% | +0.39% | — |
| Blue Dart Express Ltd. | Services | 0.61% | ₹9.85 Cr | +0.60% | +0.67% | +0.51% |
| Transport Corporation Of India Ltd. | Services | 0.60% | ₹9.55 Cr | +0.64% | +0.65% | +0.76% |
| Delhivery Ltd. | Services | 0.57% | ₹9.12 Cr | +0.57% | +0.51% | +0.56% |
| Hindustan Petroleum Corporation Ltd. | Energy | 0.57% | ₹9.14 Cr | +0.62% | +0.64% | +0.57% |
| Godrej Consumer Products Ltd. | Consumer Staples | 0.56% | ₹9.01 Cr | +0.65% | +0.57% | +0.75% |
| The Ramco Cements Ltd. | Materials | 0.55% | ₹8.80 Cr | +0.55% | +0.66% | — |
| GNA Axles Ltd. | Automobile | 0.54% | ₹8.64 Cr | +0.37% | +0.39% | +0.29% |
| Voltamp Transformers Ltd. | Capital Goods | 0.54% | ₹8.73 Cr | +0.60% | +0.59% | +0.52% |
| Equitas Small Finance Bank Ltd. | Financial | 0.53% | ₹8.54 Cr | +0.51% | +0.44% | +0.35% |
| Crompton Greaves Consumer Electricals Ltd. | Consumer Discretionary | 0.51% | ₹8.26 Cr | +0.62% | +0.53% | +0.70% |
| CIE Automotive India Ltd. | Metals & Mining | 0.49% | ₹7.82 Cr | +0.56% | +0.55% | +0.46% |
| Escorts Kubota Ltd. | Automobile | 0.47% | ₹7.49 Cr | +0.45% | +0.52% | — |
| company:1221 | Textiles | 0.45% | ₹7.17 Cr | — | — | — |
| UTI Asset Management Company Ltd. | Financial | 0.43% | ₹6.96 Cr | +0.47% | +0.46% | +0.62% |
| Zensar Technologies Ltd. | Technology | 0.43% | ₹6.91 Cr | +0.47% | +0.50% | — |
| SKF India (Industrial) Ltd. | Capital Goods | 0.41% | ₹6.56 Cr | +0.30% | +0.33% | — |
| Sonata Software Ltd. | Technology | 0.41% | ₹6.57 Cr | +0.37% | +0.35% | +0.48% |
| Eris Lifesciences Ltd. | Healthcare | 0.40% | ₹6.49 Cr | +0.44% | +0.40% | — |
| Timken India Ltd. | Capital Goods | 0.39% | ₹6.30 Cr | +0.46% | +0.41% | +0.26% |
| Bayer CropScience Ltd. | Chemicals | 0.37% | ₹5.96 Cr | +0.42% | +0.41% | +0.47% |
| Goodyear India Ltd. | Automobile | 0.36% | ₹5.77 Cr | +0.37% | +0.37% | +0.47% |
| The Anup Engineering Ltd. | Capital Goods | 0.34% | ₹5.38 Cr | +0.40% | +0.37% | +0.53% |
| Finolex Industries Ltd. | Materials | 0.30% | ₹4.73 Cr | +0.35% | +0.33% | +0.38% |
| Tamil Nadu Newsprint & Papers Ltd. | Consumer Staples | 0.23% | ₹3.63 Cr | +0.33% | +0.28% | +0.34% |
| company:17353 | Services | 0.19% | ₹3.10 Cr | — | — | — |
| GSPL Transmission Ltd. | Energy | 0.07% | ₹1.15 Cr | — | — | — |
| Bajaj Electricals Ltd. | Consumer Discretionary | 0.03% | ₹0.44 Cr | +0.26% | +0.28% | +0.45% |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| company:1221 | 0.00% | 0.45% | +0.45% |
| Gujarat Energy Ltd. | 0.39% | 0.00% | -0.39% |
| Kotak Mahindra Bank Ltd. | 3.11% | 3.40% | +0.29% |
| Bajaj Electricals Ltd. | 0.27% | 0.03% | -0.24% |
| Axis Bank Ltd. | 3.02% | 3.24% | +0.22% |
| HDFC Bank Ltd. | 5.51% | 5.31% | -0.20% |
| company:17353 | 0.00% | 0.19% | +0.19% |
| ICICI Bank Ltd. | 6.16% | 6.35% | +0.19% |
| Bharti Airtel Ltd. | 2.42% | 2.26% | -0.16% |
| Popular Vehicles And Services Ltd. | 0.16% | 0.00% | -0.16% |
| City Union Bank Ltd. | 1.18% | 1.33% | +0.15% |
| State Bank of India | 3.15% | 3.30% | +0.15% |
| CreditAccess Grameen Ltd. | 0.98% | 0.85% | -0.13% |
| Gland Pharma Ltd. | 0.77% | 0.90% | +0.13% |
| Others | 0.61% | 0.48% | -0.13% |
| Power Grid Corporation Of India Ltd. | 1.74% | 1.64% | -0.10% |
| Godrej Consumer Products Ltd. | 0.66% | 0.56% | -0.10% |
| Maruti Suzuki India Ltd. | 2.62% | 2.53% | -0.09% |
| Tamil Nadu Newsprint & Papers Ltd. | 0.32% | 0.23% | -0.09% |
| ITC Ltd. | 1.21% | 1.12% | -0.09% |
| Larsen & Toubro Ltd. | 1.81% | 1.89% | +0.08% |
| Huhtamaki India Ltd. | 0.70% | 0.63% | -0.07% |
| Voltamp Transformers Ltd. | 0.61% | 0.54% | -0.07% |
| Max Financial Services Ltd. | 1.06% | 1.13% | +0.07% |
| Alkem Laboratories Ltd. | 1.06% | 1.00% | -0.06% |
| Bajaj Auto Ltd. | 0.85% | 0.91% | +0.06% |
| Kalpataru Projects International Ltd. | 0.59% | 0.65% | +0.06% |
| Tata Consultancy Services Ltd. | 2.18% | 2.24% | +0.06% |
| The Anup Engineering Ltd. | 0.40% | 0.34% | -0.06% |
| Vesuvius India Ltd. | 0.82% | 0.76% | -0.06% |
| SBI Life Insurance Company Ltd. | 1.15% | 1.09% | -0.06% |
| Balkrishna Industries Ltd. | 0.76% | 0.71% | -0.05% |
| Crompton Greaves Consumer Electricals Ltd. | 0.56% | 0.51% | -0.05% |
| Dr. Lal Pathlabs Ltd. | 1.52% | 1.57% | +0.05% |
| PVR Inox Ltd. | 0.62% | 0.67% | +0.05% |
| Goodyear India Ltd. | 0.41% | 0.36% | -0.05% |
| Alembic Pharmaceuticals Ltd. | 0.61% | 0.65% | +0.04% |
| Infosys Ltd. | 2.08% | 2.12% | +0.04% |
| NTPC Ltd. | 0.75% | 0.71% | -0.04% |
| SKF India Ltd. | 0.64% | 0.68% | +0.04% |
| Sonata Software Ltd. | 0.45% | 0.41% | -0.04% |
| SKF India (Industrial) Ltd. | 0.37% | 0.41% | +0.04% |
| Zensar Technologies Ltd. | 0.47% | 0.43% | -0.04% |
| Hindustan Petroleum Corporation Ltd. | 0.60% | 0.57% | -0.03% |
| Transport Corporation Of India Ltd. | 0.63% | 0.60% | -0.03% |
| Reliance Industries Ltd. | 3.61% | 3.58% | -0.03% |
| Bayer CropScience Ltd. | 0.39% | 0.37% | -0.02% |
| Blue Dart Express Ltd. | 0.63% | 0.61% | -0.02% |
| Cipla Ltd. | 0.90% | 0.88% | -0.02% |
| Delhivery Ltd. | 0.59% | 0.57% | -0.02% |
| Embassy Office Parks REIT | 0.94% | 0.96% | +0.02% |
| ICICI Lombard General Insurance Company Ltd. | 1.00% | 0.98% | -0.02% |
| Sun Pharmaceutical Industries Ltd. | 1.22% | 1.24% | +0.02% |
| Eris Lifesciences Ltd. | 0.42% | 0.40% | -0.02% |
| Bajaj Housing Finance Ltd. | 1.50% | 1.51% | +0.01% |
| CIE Automotive India Ltd. | 0.50% | 0.49% | -0.01% |
| GNA Axles Ltd. | 0.53% | 0.54% | +0.01% |
| GOI | 0.80% | 0.81% | +0.01% |
| HCL Technologies Ltd. | 1.65% | 1.64% | -0.01% |
| HDFC Life Insurance Co Ltd. | 0.67% | 0.68% | +0.01% |
| Suprajit Engineering Ltd. | 0.92% | 0.93% | +0.01% |
| Tata Steel Ltd. | 0.81% | 0.80% | -0.01% |
| The Ramco Cements Ltd. | 0.56% | 0.55% | -0.01% |
| UTI Asset Management Company Ltd. | 0.44% | 0.43% | -0.01% |
| Mahindra Rural Housing Finance Ltd. | 0.93% | 0.94% | +0.01% |
| Bajaj Finance Ltd. | 4.30% | 4.31% | +0.01% |
| Equitas Small Finance Bank Ltd. | 0.53% | 0.53% | 0.00% |
| Escorts Kubota Ltd. | 0.47% | 0.47% | 0.00% |
| Finolex Industries Ltd. | 0.30% | 0.30% | 0.00% |
| GSPL Transmission Ltd. | 0.07% | 0.07% | 0.00% |
| Havells India Ltd. | 1.01% | 1.01% | 0.00% |
| Timken India Ltd. | 0.39% | 0.39% | 0.00% |
| United Spirits Ltd. | 0.84% | 0.84% | 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 | ₹936 Cr | 2.43% | 1.5% | 5.6% | 9.5% |
| ₹2,251 Cr | 2.17% | 5.8% | 6.5% | 10.0% | |
| ₹1,320 Cr | 2.48% | 4.5% | 9.8% | 14.3% | |
| ₹706 Cr | 2.49% | -2.3% | 2.9% | 7.0% | |
| ₹285 Cr | 2.57% | -0.8% | 3.5% | 7.7% | |
| ₹116 Cr | 2.42% | 0.3% | 5.1% | 8.4% |
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 months1.97% absolute | ₹60,000 | ₹61,182 | 1.97% | |
| 1 year−5.69% annualised | ₹1,20,000 | ₹1,16,365 | −3.03% | |
| 3 years6.05% annualised | ₹3,60,000 | ₹3,95,640 | 9.90% | |
| 5 years7.48% annualised | ₹6,00,000 | ₹7,29,413 | 21.57% |
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.