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HDFC Retirement Savings Fund - Hybrid-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 15.74%, with the bottom and top quartiles at 14.13% and 17.66% 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 2.08% on assets of ₹1,616Cr. The fund is currently managed by Mr. Arun Agarwal, appointed within the last year.
Lower is better.
This scheme classifies as Large-Value on the 3x3 equity style box, with 76% 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 | 5.73% |
| ICICI Bank Ltd. | Financial Services | 5.47% |
| Bajaj Finance Ltd. | Financial Services | 4.34% |
| Reliance Industries Ltd. | Energy | 3.98% |
| State Bank of India | Financial Services | 3.31% |
| Axis Bank Ltd. | Financial Services | 3.14% |
| Kotak Mahindra Bank Limited | Financial Services | 2.85% |
| Maruti Suzuki India Limited | Consumer Cyclical | 2.47% |
| Bharti Airtel Ltd. | Communication Services | 2.33% |
| Tata Consultancy Services Ltd. | Technology | 2.30% |
| Infosys Limited | Technology | 2.19% |
| 7.26% GOI MAT 220832 | Sovereign | 1.88% |
| 6.1% GOI MAT 120731 | Sovereign | 1.86% |
| Larsen and Toubro Ltd. | Industrials | 1.86% |
| 7.18% GOI MAT 140833 | Sovereign | 1.56% |
| 7.18% GOI MAT 240737 | Sovereign | 1.55% |
| Bajaj Housing Finance Ltd. | Financial Services | 1.51% |
| HCL Technologies Ltd. | Technology | 1.48% |
| ITC LIMITED | Consumer Defensive | 1.36% |
| 7.26% GOI MAT 060233 | Sovereign | 1.25% |
| Bajaj Auto Limited | Consumer Cyclical | 1.24% |
| City Union Bank Ltd. | Financial Services | 1.17% |
| Max Financial Services Ltd. | Financial Services | 1.13% |
| Dr. Lal Path Labs Ltd | Healthcare | 1.10% |
| ICICI Lombard General Insurance Co | Financial Services | 1.09% |
| Sector | Holdings | Weight |
|---|---|---|
| Banks | 7 | 22.15% |
| Sovereign | 8 | 9.75% |
| CRISIL - AAA | 4 | 7.10% |
| IT - Software | 6 | 7.06% |
| Petroleum Products | 2 | 4.56% |
| Auto Components | 7 | 4.52% |
| Automobiles | 3 | 3.86% |
| Insurance | 4 | 3.79% |
| Pharmaceuticals & Biotechnology | 6 | 3.73% |
| Construction | 2 | 2.49% |
| Industrial Products | 5 | 2.42% |
| Telecom - Services | 1 | 2.33% |
| Consumer Durables | 4 | 2.03% |
| Transport Services | 3 | 1.89% |
| Diversified FMCG | 1 | 1.36% |
| Healthcare Services | 1 | 1.10% |
| Realty | 1 | 0.92% |
| Ferrous Metals | 1 | 0.92% |
| Power | 1 | 0.86% |
| Finance | 1 | 0.80% |
| Beverages | 1 | 0.74% |
| Electrical Equipment | 1 | 0.73% |
| Personal Products | 1 | 0.66% |
| Entertainment | 1 | 0.59% |
| Cement & Cement Products | 1 | 0.58% |
| Gas | 1 | 0.53% |
| Industrial Manufacturing | 1 | 0.51% |
| Agricultural, Commercial & Construction Vehicles | 1 | 0.50% |
| Commercial Services & Supplies | 1 | 0.47% |
| Capital Markets | 1 | 0.47% |
| Fertilizers & Agrochemicals | 1 | 0.44% |
| Paper, Forest & Jute Products | 1 | 0.33% |
| Non - Ferrous Metals | 1 | 0.31% |
| IT - Services | 1 | 0.28% |
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 | -6.56% | 4.25% | 13.51% | 25.99% | 55.16% | 92.4% |
| 3Y | 8.37% | 14.13% | 15.74% | 17.66% | 23.65% | 100.0% |
| 5Y | 9.22% | 11.99% | 15.77% | 17.73% | 20.68% | 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 35.9% 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.
Correlation is too weak to confirm or rule out capacity-driven alpha decay. Re-evaluate as more manager-tenure data accumulates.
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 = 4 data points.