HDFC Housing Opportunities Fund
Direct · GrowthAI Summary
HDFC Housing Opportunities Fund has outperformed the NIFTY 50 over most meaningful periods, with a 5Y point-to-point CAGR of 9.38% versus 5.16% for the benchmark and alpha of 4.27%. Its SIP XIRR of 19.66% over 5Y and 19.18% over 3Y beats the category averages of 17.43% and 16.17% respectively, though the 1Y XIRR of 7.27% trails the category's 10.56%. Longer 10Y+ alpha turns marginally negative, suggesting outperformance has been concentrated in the recent 3-7 year window.
The fund shows four drawdown events exceeding 10% and a maximum drawdown of 42.18% that took 791 days to peak-to-trough and 315 days to recover, reflecting the cyclical nature of its realty and infrastructure-linked holdings. A beta above 1.0 in recent periods (1.06-1.10) and downside capture slightly above 100% at 1Y and 3Y indicate it falls slightly more than the market in weak phases. Calmar ratios of roughly 0.33-0.42 across periods indicate modest risk-adjusted efficiency given the volatility of the theme.
The 38-stock portfolio is anchored by Larsen and Toubro (8.54%), ICICI Bank (8.11%), and HDFC Bank (8.05%), with the top 10 holdings representing roughly 61% of NAV. Banks dominate at 28.1% of the portfolio, followed by Construction (14.0%), Cement (12.2%), Consumer Durables (12.1%), and Realty (9.1%). The heavy tilt toward rate-sensitive, cyclical sectors is consistent with the housing-thematic mandate but limits defensive diversification.
Against sectoral/thematic peers, the fund's 3Y XIRR of 19.18% and 5Y XIRR of 19.66% rank above category averages of 16.17% and 17.43%, making it a relatively strong performer in its category. Consistency is uneven, however, as calendar year returns swing from -8.62% in 2018 and -10.86% in 2026 to 39.37% in 2023. The 1Y XIRR of 7.27% versus the category's 10.56% shows recent momentum has been weaker.
This fund suits investors with high risk tolerance and a time horizon of at least 5-7 years who understand sectoral/thematic risk and the cyclicality of realty, cement, and construction-linked businesses. A smaller satellite allocation (typically 5-10% of an equity portfolio) is prudent given the concentration in one theme rather than a core holding. Investors uncomfortable with calendar-year swings of ±30% or extended drawdowns should consider diversified funds instead.
- Consistent alpha versus the NIFTY 50 over 3Y, 5Y, and 7Y periods, including 4.27% alpha over 5Y
- SIP XIRR of 19.66% (5Y) and 19.18% (3Y) beats category averages of 17.43% and 16.17%
- Downside capture below 100% over 5Y (96.86%) and 7Y (96.25%) shows relative resilience in weak markets
- 1Y SIP XIRR of 7.27% trails the category average of 10.56%, and 10Y+ alpha is slightly negative, indicating uneven long-run consistency
- High concentration in banks (28.1%) and cyclical sectors, with a deep 42.18% maximum drawdown and a 791-day drawdown duration highlighting significant cyclical risk
Generated on 01-11-2026, 3:05 AM. Verify before investing.
Gives more importance to longer time periods (10Y, 20Y) than shorter ones (1Y, 3Y). This balances out recent outperformance and gives a more realistic picture of what long-term returns might look like.
The largest peak-to-trough decline in the fund's NAV. Shows the worst-case loss an investor would have experienced at any point in the fund's history.
If you invested ₹1,00,000 every month via SIP, here's how this fund has historically performed across different time horizons.
| Duration | Invested | Median Value | XIRR | Min XIRR | Max XIRR |
|---|---|---|---|---|---|
| 1 Year | ₹12.00 L | ₹12.51 L | 16.0% | -62.0% | 104.9% |
| 3 Years | ₹36.00 L | ₹47.24 L | 19.2% | -5.2% | 39.9% |
| 5 Years | ₹60.00 L | ₹94.90 L | 19.6% | 6.3% | 32.6% |
| 7 Years | ₹84.00 L | ₹1.56 Cr | 17.2% | 11.5% | 22.3% |
SIP returns vs benchmark & category
Annualised SIP return (XIRR) over each rolling horizon — like-for-like, not lump-sum.
| Duration | Fund SIP XIRR | NIFTY 50 | Category avg | Fund edge |
|---|---|---|---|---|
| 1 Year | 16.0% | 14.3% | 10.6% | +1.7% |
| 3 Years | 19.2% | 11.0% | 16.2% | +8.1% |
| 5 Years | 19.6% | 10.4% | 17.4% | +9.2% |
| 7 Years | 17.2% | 10.6% | 16.6% | +6.7% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 14.7% | 6.0% | -37.3% | 81.3% | 0.32 | 0.79 | 67% | — | — |
| 3 Years | 17.8% | 17.4% | -2.3% | 32.3% | 1.40 | 8.12 | 98% | — | — |
| 5 Years | 17.5% | 17.9% | 6.2% | 29.9% | 1.86 | 873.19 | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | -0.89 | 1.06 | 103.2% | 104.5% | -12.9% | -10.9% |
| 3 Years | +1.10 | 1.10 | 104.6% | 103.0% | 7.5% | 6.4% |
| 5 Years | +4.27 | 1.04 | 102.2% | 96.9% | 9.4% | 5.2% |
| 7 Years | +2.82 | 0.96 | 99.3% | 96.3% | 12.7% | 10.0% |
| 10 Years | -0.29 | 0.95 | 97.1% | 97.2% | 8.1% | 8.4% |
| 12 Years | -0.29 | 0.95 | 97.1% | 97.2% | 6.7% | 7.0% |
| 15 Years | -0.29 | 0.95 | 97.1% | 97.2% | 5.3% | 5.5% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | Larsen and Toubro Ltd. | 8.54% |
| 2 | ICICI Bank Ltd. | 8.11% |
| 3 | HDFC Bank Ltd.£ | 8.05% |
| 4 | NTPC Limited | 7.33% |
| 5 | Ambuja Cements Ltd. | 5.32% |
| 6 | State Bank of India | 5.06% |
| 7 | Kalpataru Projects International Ltd | 5.01% |
| 8 | UltraTech Cement Limited | 4.98% |
| 9 | Tata Steel Ltd. | 4.69% |
| 10 | Prestige Estates Projects Ltd. | 4.38% |