HDFC MNC Fund
Direct · GrowthAI Summary
HDFC MNC Fund has outperformed the NIFTY 50 across most periods, with a 3Y lump-sum CAGR of 9.51% versus the benchmark's 7.75% and positive alpha of 2.03%. However, its SIP XIRR of 3.47% over 3Y and 8.97% over 1Y trails the category average SIP XIRR of 16.82% and 14.1% respectively, indicating significant underperformance versus sectoral/thematic peers. Calendar year returns have been uneven, ranging from 26.68% in 2023 to just 0.21% in 2025.
The fund shows defensive characteristics with a beta of 0.79 over 3Y and downside capture of 76.5%, meaning it falls less than the market in downturns. Maximum drawdown was a modest -0.25% with only one drawdown event exceeding 10%, though recovery from the max drawdown is still pending after 150 days. Calmar ratios of 0.37 (1Y) and 0.36 (3Y) suggest moderate risk-adjusted returns.
The 39-stock portfolio is led by Maruti Suzuki (9.03%), Britannia (6.48%), and Hindustan Unilever (6.05%), with the top 10 holdings comprising roughly 50% of NAV. Sector concentration is highest in Pharmaceuticals & Biotechnology at 21.4%, followed by Automobiles at 12.0% and Food Products at 11.6%. The portfolio spans FMCG, autos, industrials, and pharma, consistent with its multinational companies theme.
The fund significantly lags its sectoral/thematic category on SIP XIRR, with a 3Y figure of 3.47% versus the category average of 16.82%, placing it among the weaker performers. Its lump-sum returns have been more respectable, beating the NIFTY 50 over 3Y, 5Y, 7Y, and 10Y windows. The gap between lump-sum and SIP performance suggests returns have been front-loaded, with recent SIP entry points faring poorly.
This fund suits investors seeking defensive, lower-beta exposure to quality multinational companies rather than aggressive thematic growth, given its downside capture of 70-77% across periods. A long time horizon of 5-7 years or more is advisable, as returns have been inconsistent year to year. Investors should be comfortable with the risk that a thematic MNC strategy can underperform both the broad market and its own category for extended stretches.
- Consistent outperformance versus NIFTY 50 with positive alpha over 3Y (2.03%) and 5Y (1.64%) periods
- Defensive profile with low beta (0.76-0.87) and downside capture of 70-77%, cushioning market falls
- Diversified 39-stock portfolio anchored in quality multinational franchises like Maruti Suzuki, HUL, and Nestle India
- SIP XIRR of 3.47% over 3Y is far below the category average of 16.82%, indicating weak recent SIP outcomes
- Concentration risk in Pharmaceuticals & Biotechnology at 21.4% of NAV, with uneven calendar year returns (0.21% in 2025 vs 26.68% in 2023)
Generated on 10-09-2026, 3:06 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 | ₹12.42 L | 9.0% | -30.0% | 48.3% |
| 3 Years | ₹36.00 L | ₹38.07 L | 3.5% | -3.6% | 7.8% |
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 | 9.0% | 14.4% | 14.1% | -5.5% |
| 3 Years | 3.5% | 11.1% | 16.8% | -7.6% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 9.2% | 4.6% | -11.5% | 35.9% | 0.18 | 0.36 | 66% | — | — |
| 3 Years | 8.8% | 8.7% | 7.0% | 11.3% | 2.27 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +9.55 | 0.87 | 86.6% | 71.8% | 7.9% | -2.9% |
| 3 Years | +2.03 | 0.79 | 80.8% | 76.5% | 9.5% | 7.8% |
| 5 Years | +1.64 | 0.76 | 76.9% | 70.2% | 8.3% | 6.8% |
| 7 Years | +0.68 | 0.76 | 76.9% | 70.2% | 5.9% | 4.8% |
| 10 Years | -0.01 | 0.76 | 76.9% | 70.2% | 4.1% | 3.3% |
| 12 Years | -0.28 | 0.76 | 76.9% | 70.2% | 3.4% | 2.8% |
| 15 Years | -0.55 | 0.76 | 76.9% | 70.2% | 2.7% | 2.2% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | Maruti Suzuki India Limited | 9.03% |
| 2 | Britannia Industries Ltd. | 6.48% |
| 3 | Hindustan Unilever Ltd. | 6.05% |
| 4 | Nestle India Ltd. | 5.10% |
| 5 | Cummins India Ltd. | 4.63% |
| 6 | United Spirits Limited | 4.56% |
| 7 | Bosch Limited | 3.94% |
| 8 | Torrent Pharmaceuticals Ltd. | 3.85% |
| 9 | Timken India Ltd. | 3.08% |
| 10 | Neuland Laboratories Limited | 3.07% |