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HDFC Retirement Savings Fund - Equity Plan - Growth Option is a solution scheme managed by HDFC Mutual Fund. Over rolling three-year windows since inception, investors earned a median compounded return of 21.55%, with the bottom and top quartiles at 18.07% and 25.48% respectively. It has ranked in the top half of its category for 7 of the last 9 reported years. Risk-adjusted return (Sharpe ratio) is 0.00. The total expense ratio is 1.85% on assets of ₹6,733Cr. The fund is currently managed by Arun Agarwal, appointed within the last year.
Lower is better.
This scheme classifies as Large-Value on the 3x3 equity style box, with 86% of its portfolio classified as of 2026-04-30.
| Holding | Sector |
|---|
| Window | Min | P25 | Median |
|---|
Point-in-time CAGRs cherry-pick a single start date. The chart below shows the distribution of every possible rolling start over the fund's history, so you see the range of investor outcomes — not just one date's number.
Backtested SIP outcomes across both rolling-window scenarios and named historical stress events (COVID, Election uncertainty, Russia/Ukraine, etc.), plus per-manager alpha during their tenure on this scheme.
Same fund, monthly SIPs over rolling 1/3/5-year windows.
Mutual fund investments are subject to market risks. Read all scheme-related documents carefully. Past performance is not indicative of future results. MintByte is an AMFI-registered Mutual Fund Distributor (ARN-314872) and APMI member (APRN-01658). MintByte does not issue buy/sell recommendations on specific securities — the site is an educational data and analytics platform. Star ratings on this page reflect a 3-year category-quartile position computed in-house and are educational only.
Mutual fund schemes are subject to market risk. Read all scheme-related documents carefully before investing. Past performance is not indicative of future results. MintByte is an AMFI-registered mutual fund distributor (ARN-314872). MintByte does not issue buy/sell recommendations on specific securities — the site is an educational data and analytics platform. Not investment advice. Methodology · How we earn.
In-house derivations using 3-year daily NAV vs benchmark. See methodology.
| Weight |
|---|
| HDFC Bank Ltd. | Financial Services | 6.88% |
| ICICI Bank Ltd. | Financial Services | 6.57% |
| Reliance Industries Ltd. | Energy | 5.31% |
| Axis Bank Ltd. | Financial Services | 4.52% |
| Kotak Mahindra Bank Limited | Financial Services | 3.98% |
| State Bank of India | Financial Services | 3.17% |
| Maruti Suzuki India Limited | Consumer Cyclical | 3.13% |
| Infosys Limited | Technology | 2.81% |
| Bharti Airtel Ltd. | Communication Services | 2.80% |
| Tata Consultancy Services Ltd. | Technology | 2.57% |
| Larsen and Toubro Ltd. | Industrials | 2.38% |
| Power Grid Corporation of India Ltd. | Utilities | 2.13% |
| HCL Technologies Ltd. | Technology | 1.78% |
| Eicher Motors Ltd. | Consumer Cyclical | 1.58% |
| ITC LIMITED | Consumer Defensive | 1.54% |
| Bajaj Auto Limited | Consumer Cyclical | 1.48% |
| NTPC Limited | Utilities | 1.48% |
| ICICI Lombard General Insurance Co | Financial Services | 1.44% |
| Dr. Lal Path Labs Ltd | Healthcare | 1.42% |
| Havells India Ltd. | Industrials | 1.29% |
| Alkem Laboratories Ltd. | Healthcare | 1.28% |
| Jindal Steel Limited. | Basic Materials | 1.27% |
| Max Financial Services Ltd. | Financial Services | 1.18% |
| Delhivery Limited | Industrials | 1.11% |
| Eternal Limited | Consumer Cyclical | 1.10% |
| Sector | Holdings | Weight |
|---|---|---|
| Banks | 6 | 25.52% |
| IT - Software | 4 | 7.77% |
| Automobiles | 4 | 6.86% |
| Petroleum Products | 2 | 6.26% |
| Transport Services | 7 | 5.43% |
| Pharmaceuticals & Biotechnology | 5 | 4.46% |
| Insurance | 4 | 4.26% |
| Power | 2 | 3.61% |
| Construction | 4 | 3.57% |
| Consumer Durables | 6 | 3.40% |
| Telecom - Services | 1 | 2.80% |
| Ferrous Metals | 2 | 2.37% |
| Healthcare Services | 2 | 2.27% |
| Finance | 2 | 1.89% |
| Diversified FMCG | 1 | 1.54% |
| Industrial Products | 3 | 1.45% |
| Auto Components | 2 | 1.23% |
| Realty | 2 | 1.21% |
| Retailing | 1 | 1.10% |
| Electrical Equipment | 1 | 1.05% |
| Beverages | 1 | 0.98% |
| Personal Products | 1 | 0.79% |
| Cement & Cement Products | 1 | 0.76% |
| Entertainment | 1 | 0.71% |
| Leisure Services | 2 | 0.71% |
| Gas | 1 | 0.64% |
| Industrial Manufacturing | 1 | 0.61% |
| Commercial Services & Supplies | 1 | 0.58% |
| Fertilizers & Agrochemicals | 1 | 0.55% |
| Non - Ferrous Metals | 1 | 0.36% |
| Paper, Forest & Jute Products | 1 | 0.36% |
Active bets vs the average Solution fund. Biggest deviations shown first.
Accent bar = fund's actual sector weight. Vertical black tick = category average for the same sector. Green overlay = overweight, dashed red = underweight. The biggest active bets show first.
How crowded into the same stocks is this fund vs the largest fund in its category?
Category leader = highest-AUM scheme in the same SEBI category. A high overlap-of-weight number means the fund is concentrated into the same names as the leader (crowded); a low one means it's genuinely differentiated.
| P75 |
|---|
| Max |
|---|
| Positive % |
|---|
| 1Y | -7.28% | 6.24% | 20.10% | 35.54% | 79.35% | 92.3% |
| 3Y | 10.73% | 18.07% | 21.55% | 25.48% | 33.87% | 100.0% |
| 5Y | 12.84% | 17.03% | 21.73% | 24.52% | 28.37% | 100.0% |
Each cell is one year. Q1 = top quartile within the AMFI category for that period. Cell label is the last two digits of the year.
Top-10 weight 41.7% means the portfolio is broad — even the top names don't dominate. Effective-N is the inverse Herfindahl index — a measure of "how many positions effectively drive the fund" after weighting. Category: Solution.
Compounding maths on a notional ₹10 lakh lumpsum at 12% gross annual return. Green bar is what you'd have without the fee; red overlay is the fee drag. Fee is constant in this scenario — actual outcomes depend on real returns and any future TER changes.
Each row is a back-tested SIP — monthly contribution over the regime's duration, no fees adjustment beyond NAV-baked TER. XIRR is the annualised IRR of those cashflows; Abs return is the absolute cash-on-cash; Max DD is the deepest drawdown experienced mid-investment. Past performance is not indicative of future results.
Alpha is the annualised excess return vs benchmark over the manager's tenure on this scheme. Beat-benchmark = total return beat the index over the same window.
Does the fund get worse as it gets bigger? Each dot is one historical manager-tenure: AUM at tenure-end vs alpha delivered during that tenure.
The data points trend upward — alpha was stronger in larger-AUM periods. No evidence of capacity-induced decay in the available history.
Each dot is one manager-tenure: X = AUM at tenure end, Y = alpha during that tenure. Connecting line in chronological order. Pearson r measures the linear relationship between AUM and alpha across the historical record. n = 7 data points.