HDFC Value Fund
Direct · GrowthAI Summary
HDFC Value Fund has delivered strong SIP XIRR across horizons, including 19.81% over 1Y, 16.16% over 3Y, and 16.20% over 10Y. It has meaningfully outperformed the NIFTY50 VALUE 20 benchmark on a lump-sum basis, with fund CAGR of 15.40% vs 6.65% over 5Y and 14.94% vs 12.13% over 10Y, generating alpha of 3.52% to 14.58% across periods. Against category peers, its 1Y XIRR of 19.81% beats the 17.71% average, though 3Y (16.16% vs 17.43%) and 5Y (15.59% vs 16.74%) XIRR trail the category.
The fund exhibits a defensive risk profile with a beta below 1 across all periods (0.86 to 0.99) and consistently low downside capture of roughly 78-83%, meaning it falls less than the benchmark in down markets. Upside capture of 86-102% combined with strong alpha indicates it has preserved most of the benchmark's upside while materially cushioning declines. Seven drawdown events exceeding 10% occurred, with the maximum drawdown lasting 790 days and taking 253 days to recover, which is a consideration for investors with shorter horizons.
The portfolio is diversified across 72 holdings, with the top 10 positions accounting for roughly 33% of NAV. Banks dominate at 22.7% of the portfolio, with four banks (ICICI Bank at 6.78%, HDFC Bank at 4.88%, SBI at 3.43%, and Axis Bank at 3.25%) among the top holdings, followed by IT-Software at 6.9% and Pharma at 6.1%. This financials-heavy tilt is typical of value-oriented funds but exposes investors to sector concentration risk.
The fund leads the category on 1Y SIP XIRR (19.81% vs 17.71%) but lags on longer horizons, with 3Y, 5Y, 10Y, and 12Y XIRR all below category averages by roughly 0.5 to 1.3 percentage points. Calendar year returns show strong consistency in up-markets, including 43.65% in 2017, 36.45% in 2021, and 29.87% in 2023, with only one negative year (-3.73% in 2018) in the past 14. Its long-term record remains competitive, though recent 3-5 year SIP performance has been middling versus peers.
This fund suits investors seeking a value-oriented, lower-beta equity allocation with a long time horizon of at least 5-7 years, given the extended 790-day maximum drawdown duration. It is appropriate for moderate risk tolerance investors who prioritize downside protection, as evidenced by downside capture near 80%, over maximum upside participation. SIP investors should be prepared for periods where returns trail the category, as the fund's edge has been more pronounced over 1Y and 7Y+ horizons.
- Consistent outperformance versus the NIFTY50 VALUE 20 benchmark, with positive alpha across all measured periods from 1Y (14.58%) to 15Y (4.50%)
- Strong downside protection with downside capture of 78-83% and beta below 1 in every period, cushioning losses in weak markets
- Diversified 72-stock portfolio with a disciplined value approach and only one negative calendar year since 2013
- SIP XIRR trails category averages across 3Y, 5Y, 10Y, and 12Y horizons, indicating middling recent performance versus value fund peers
- Heavy concentration in the banking sector at 22.7% of NAV, with four banks among the top five holdings, creating sector-specific risk
Generated on 06-09-2026, 8:07 PM. 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 | ₹12.82 L | 19.8% | -65.7% | 98.3% |
| 3 Years | ₹36.00 L | ₹46.17 L | 16.2% | -29.2% | 35.0% |
| 5 Years | ₹60.00 L | ₹88.89 L | 15.6% | -12.8% | 30.4% |
| 7 Years | ₹84.00 L | ₹1.44 Cr | 15.2% | -3.6% | 23.7% |
| 10 Years | ₹1.20 Cr | ₹2.81 Cr | 16.2% | 12.8% | 19.8% |
| 12 Years | ₹1.44 Cr | ₹4.02 Cr | 16.1% | 13.6% | 18.2% |
SIP returns vs benchmark & category
Annualised SIP return (XIRR) over each rolling horizon — like-for-like, not lump-sum.
| Duration | Fund SIP XIRR | NIFTY50 VALUE 20 | Category avg | Fund edge |
|---|---|---|---|---|
| 1 Year | 19.8% | 15.1% | 17.7% | +4.7% |
| 3 Years | 16.2% | 13.0% | 17.4% | +3.1% |
| 5 Years | 15.6% | 13.6% | 16.7% | +2.0% |
| 7 Years | 15.2% | 13.3% | 16.1% | +1.8% |
| 10 Years | 16.2% | 13.6% | 16.6% | +2.6% |
| 12 Years | 16.1% | 14.2% | 16.4% | +1.9% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 18.9% | 14.3% | -41.6% | 107.1% | 0.57 | 1.80 | 87% | — | — |
| 3 Years | 16.3% | 17.3% | -9.9% | 37.1% | 1.36 | 4.49 | 96% | — | — |
| 5 Years | 15.5% | 15.5% | -1.9% | 32.5% | 1.52 | 11.26 | 100% | — | — |
| 10 Years | 15.9% | 15.6% | 12.7% | 18.4% | 8.10 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY50 VALUE 20
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +14.58 | 0.99 | 102.2% | 82.6% | 9.2% | -5.5% |
| 3 Years | +12.10 | 0.90 | 96.0% | 80.3% | 18.2% | 6.0% |
| 5 Years | +8.77 | 0.86 | 90.0% | 79.0% | 15.4% | 6.7% |
| 7 Years | +5.99 | 0.90 | 88.1% | 80.4% | 17.9% | 12.5% |
| 10 Years | +3.52 | 0.87 | 85.9% | 80.3% | 14.9% | 12.1% |
| 12 Years | +4.91 | 0.88 | 87.0% | 80.2% | 14.7% | 10.2% |
| 15 Years | +4.50 | 0.86 | 86.2% | 79.4% | 14.5% | 10.5% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | ICICI Bank Ltd. | 6.60% |
| 2 | HDFC Bank Ltd.£ | 4.43% |
| 3 | State Bank of India | 3.40% |
| 4 | Axis Bank Ltd. | 3.30% |
| 5 | Bharti Airtel Ltd. | 2.85% |
| 6 | Larsen and Toubro Ltd. | 2.57% |
| 7 | Au Small Finance Bank Ltd. | 2.29% |
| 8 | Infosys Limited | 2.19% |
| 9 | Sun Pharmaceutical Industries Ltd. | 2.16% |
| 10 | Bharat Electronics Ltd. | 2.01% |