Axis Retirement Fund - Dynamic Plan vs SBI Retirement Benefit Fund - Conservative Hybrid Plan
Axis Retirement Fund - Dynamic Plan and SBI Retirement Benefit Fund - Conservative Hybrid Plan are both Retirement Funds. As of 6 Nov 2026 (Direct plan, Growth option): 3-year CAGR +13.02% vs +7.57%, 5-year CAGR +8.14% vs +7.79%, volatility 13.67% vs 7.17%, maximum drawdown −17.13% vs −6.87%. Their portfolios overlap by 15% (19 stocks held by both).
Showing the Direct plan, Growth option. Portfolio, sector and market-cap figures are the same for every plan and option of a fund.
Key facts
| Axis Retirement Fund - Dynamic Plan | SBI Retirement Benefit Fund - Conservative Hybrid Plan | |
|---|---|---|
| Fund house | Axis Mutual Fund | SBI Mutual Fund |
| Compared as | Retirement Funds | Retirement Funds |
| NAV | ₹22.1500 | ₹16.5821 |
| NAV date | 6 Nov 2026 | 6 Nov 2026 |
| Launched (first NAV) | 27 Dec 2019 | 17 Feb 2021 |
| Track record | 6.9 yrs | 5.7 yrs |
| Fund size (AUM) | ₹269 Cr | ₹248 Cr |
| Securities held | 97 | 66 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| Axis Retirement Fund - Dynamic Plan | SBI Retirement Benefit Fund - Conservative Hybrid Plan | |
|---|---|---|
| 1 month | +5.38% | +2.60% |
| 3 months | +0.05% | +0.53% |
| 6 months | +4.53% | +3.60% |
| 1 year | +1.19% | +3.20% |
| 3 years (CAGR) | +13.02% | +7.57% |
| 5 years (CAGR) | +8.14% | +7.79% |
| 7 years (CAGR) | — | — |
| 10 years (CAGR) | — | — |
| Since launch (CAGR) | +12.27% | +9.15% |
| SIP return (XIRR, 5 years) ⓘ | +9.98% | +7.27% |
Up to one year: absolute return. Beyond one year: CAGR. Computed from each fund's own NAV history (AMFI), measured to the latest NAV.
Calendar-year returns
| Axis Retirement Fund - Dynamic Plan | SBI Retirement Benefit Fund - Conservative Hybrid Plan | |
|---|---|---|
| 2026 (year to date) | +1.14% | +2.37% |
| 2025 | +2.77% | +5.48% |
| 2024 | +25.87% | +9.91% |
| 2023 | +22.15% | +15.83% |
| 2022 | −4.81% | +5.67% |
| 2021 | +21.33% | — |
Risk
| Axis Retirement Fund - Dynamic Plan | SBI Retirement Benefit Fund - Conservative Hybrid Plan | |
|---|---|---|
| Volatility (annualised) ⓘ | 13.67% | 7.17% |
| Downside volatility ⓘ | 9.72% | 5.25% |
| Sharpe ratio ⓘ | 0.48 | 0.15 |
| Sortino ratio ⓘ | 0.67 | 0.20 |
| Maximum drawdown ⓘ | −17.13% | −6.87% |
| Recovery from that fall | 13 months | 3 months |
| Current fall from peak | −1.29% | 0.00% |
| Rolling 1-year return: worst | −9.76% | −2.20% |
| Rolling 1-year return: median | +10.42% | +7.56% |
| Rolling 1-year return: best | +52.22% | +18.91% |
| Share of 1-year periods with a loss | 21.13% | 3.91% |
Against each fund's benchmark
| Axis Retirement Fund - Dynamic Plan | SBI Retirement Benefit Fund - Conservative Hybrid Plan | |
|---|---|---|
| Beta ⓘ | 0.89 | 0.45 |
| Alpha (Jensen's, annualised) ⓘ | +3.03% | −0.94% |
| R² ⓘ | 92.39 | 89.66 |
| Upside capture | 103.66% | 53.48% |
| Downside capture | 87.50% | 40.98% |
| Tracking error | 4.12% | 8.43% |
| Information ratio | 0.77 | -0.20 |
| Treynor ratio | 5.74 | 0.55 |
Portfolio
Asset mix
| Axis Retirement Fund - Dynamic Plan | SBI Retirement Benefit Fund - Conservative Hybrid Plan | |
|---|---|---|
| Equity | 78.76% | 38.20% |
| Debt | 10.94% | 36.18% |
| Cash & equivalents | 10.27% | 23.62% |
| REITs / InvITs | 0.00% | 2.00% |
Market-cap split (share of fund assets)
| Axis Retirement Fund - Dynamic Plan | SBI Retirement Benefit Fund - Conservative Hybrid Plan | |
|---|---|---|
| Large Cap | 51.74% | 18.61% |
| Mid Cap | 13.81% | 9.84% |
| Small Cap | 13.21% | 9.04% |
| Unclassified | 0.00% | 0.71% |
Concentration
| Axis Retirement Fund - Dynamic Plan | SBI Retirement Benefit Fund - Conservative Hybrid Plan | |
|---|---|---|
| Top 10 holdings | 35.15% | 34.24% |
| Effective number of stocks ⓘ | 51.2 | 45.7 |
| Securities held | 97 | 66 |
Portfolio overlap: 15%
19 companies are held by both funds; by weight, 15% of the two portfolios is the same. That is a low overlap: the two portfolios are largely different.
| Held by both | Axis Retirement Fund - Dynamic Plan | SBI Retirement Benefit Fund - Conservative Hybrid Plan |
|---|---|---|
| HDFC Bank Limited | 5.05% | 2.54% |
| ICICI Bank Limited | 5.39% | 2.31% |
| Larsen & Toubro Limited | 2.02% | 1.58% |
| State Bank of India | 2.12% | 1.49% |
| Kotak Mahindra Bank Limited | 2.26% | 1.07% |
| Bajaj Finance Limited | 1.70% | 0.92% |
| Sona BLW Precision Forgings Limited | 0.89% | 0.75% |
| Divi's Laboratories Limited | 1.34% | 0.71% |
| The Indian Hotels Company Limited | 0.75% | 0.62% |
| Pidilite Industries Limited | 1.22% | 0.59% |
| InterGlobe Aviation Limited | 0.85% | 0.48% |
| Jubilant Foodworks Limited | 0.42% | 0.58% |
| Tech Mahindra Limited | 0.40% | 0.58% |
| Berger Paints (I) Limited | 0.33% | 0.48% |
| Schaeffler India Ltd. | 0.29% | 0.67% |
Top 10 holdings
Axis Retirement Fund - Dynamic Plan
- ICICI Bank Limited5.39%
- 7.3% GOI (MD 19/06/2053)5.36%
- Reliance Industries Limited5.15%
- HDFC Bank Limited5.05%
- Bharti Airtel Limited2.86%
- 7.25% GOI MAT 1206632.80%
- Kotak Mahindra Bank Limited2.26%
- Mahindra & Mahindra Limited2.14%
- State Bank of India2.12%
- Larsen & Toubro Limited2.02%
SBI Retirement Benefit Fund - Conservative Hybrid Plan
- 6.64% GOI MAT 07123110.38%
- 7.44% National Bank For Agriculture and Rural Development (17/07/2029)3.99%
- Bharat Sanchar Nigam Ltd.3.97%
- Summit Digitel Infrastructure Pvt. Ltd.2.97%
- HDFC Bank Limited2.54%
- ICICI Bank Limited2.31%
- Torrent Power Ltd.2.03%
- Cholamandalam Investment and Finance Company Ltd (27/02/2029) (FRN)2.02%
- Power Finance Corporation Ltd.2.02%
- Muthoot Finance Ltd.2.01%
Sector exposure
| Axis Retirement Fund - Dynamic Plan | SBI Retirement Benefit Fund - Conservative Hybrid Plan | |
|---|---|---|
| Banks | 16.53% | 7.41% |
| CRISIL AAA | 0.00% | 12.98% |
| Sovereign | 10.94% | 10.38% |
| Pharmaceuticals & Biotechnology | 5.28% | 2.75% |
| Petroleum Products | 5.15% | 0.00% |
| Finance | 4.99% | 1.85% |
| CRISIL AA+ | 0.00% | 4.85% |
| Auto Components | 4.79% | 1.96% |
| Healthcare Services | 4.07% | 0.00% |
| CRISIL AAA(CE) | 0.00% | 3.97% |
| Electrical Equipment | 3.92% | 1.00% |
| IT - Software | 3.35% | 1.52% |
| Telecom - Services | 3.30% | 0.00% |
| Automobiles | 3.09% | 2.65% |
Questions people ask
What is the difference between Axis Retirement Fund - Dynamic Plan and SBI Retirement Benefit Fund - Conservative Hybrid Plan returns?
As of 6 Nov 2026, Direct plan Growth option: 1-year return +1.19% vs +3.20%; 3-year CAGR +13.02% vs +7.57%; 5-year CAGR +8.14% vs +7.79%; 10-year CAGR — vs —. Past returns do not indicate future returns.
How do Axis Retirement Fund - Dynamic Plan and SBI Retirement Benefit Fund - Conservative Hybrid Plan compare on risk?
Volatility (36 monthly returns, annualised) 13.67% vs 7.17%; Sharpe ratio 0.48 vs 0.15; Sortino ratio 0.67 vs 0.20; maximum drawdown −17.13% vs −6.87%; beta 0.89 vs 0.45.
How much do Axis Retirement Fund - Dynamic Plan and SBI Retirement Benefit Fund - Conservative Hybrid Plan overlap?
By weight, 15% of the two portfolios is invested in the same companies; 19 stocks are held by both, the largest shared positions being HDFC Bank Limited, ICICI Bank Limited, Larsen & Toubro Limited. Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of Axis Retirement Fund - Dynamic Plan and SBI Retirement Benefit Fund - Conservative Hybrid Plan?
Axis Retirement Fund - Dynamic Plan: large cap 51.7%, mid cap 13.8%, small cap 13.2%. SBI Retirement Benefit Fund - Conservative Hybrid Plan: large cap 18.6%, mid cap 9.8%, small cap 9.0% (share of the fund's assets, from its latest disclosed portfolio).
Is this a recommendation to choose one of these funds?
No. This page places the published figures of both funds side by side. It does not rank, rate or recommend either fund; which one suits an investor depends on their goals, horizon and risk tolerance.
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Sources: NAV from AMFI; returns, risk and ratios computed by MF Analyser from each fund's NAV history (risk on 36 monthly returns, risk-free rate 6.5%); benchmark ratios against each fund's benchmark total-return index; portfolios from each fund house's monthly disclosure. Returns and ratios as of 6 Nov 2026. IDCW options show no return or risk figures because payouts reduce the NAV and AMFI's file carries no payout history to add back. This page compares published figures only — it does not rank, rate or recommend either fund. Past performance does not indicate future returns; mutual fund investments are subject to market risks.