HDFC Conservative Hybrid Fund vs Kotak Conservative Hybrid Fund
HDFC Conservative Hybrid Fund and Kotak Conservative Hybrid Fund are both Conservative Hybrid funds. As of 5 Nov 2026 (Direct plan, Growth option): 3-year CAGR +7.72% vs +8.91%, 5-year CAGR +7.69% vs +8.27%, volatility 4.65% vs 5.36%, maximum drawdown −12.08% vs −11.80%. Their portfolios overlap by 17.9% (25 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
| HDFC Conservative Hybrid | Kotak Conservative Hybrid | |
|---|---|---|
| Fund house | HDFC Mutual Fund | Kotak Mahindra Mutual Fund |
| Compared as | Conservative Hybrid | Conservative Hybrid |
| NAV | ₹90.1908 | ₹70.3911 |
| NAV date | 5 Nov 2026 | 5 Nov 2026 |
| Launched (first NAV) | 1 Jan 2013 | 30 Jan 2013 |
| Track record | 13.8 yrs | 13.8 yrs |
| Fund size (AUM) | ₹3,108 Cr | ₹2,733 Cr |
| Securities held | 109 | 117 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| HDFC Conservative Hybrid | Kotak Conservative Hybrid | |
|---|---|---|
| 1 month | +1.86% | +1.67% |
| 3 months | −0.19% | −0.01% |
| 6 months | +1.76% | +2.55% |
| 1 year | +1.91% | +2.69% |
| 3 years (CAGR) | +7.72% | +8.91% |
| 5 years (CAGR) | +7.69% | +8.27% |
| 7 years (CAGR) | +9.18% | +10.44% |
| 10 years (CAGR) | +8.34% | +9.57% |
| Since launch (CAGR) | +9.26% | +10.25% |
| SIP return (XIRR, 5 years) ⓘ | +7.06% | +7.92% |
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
| HDFC Conservative Hybrid | Kotak Conservative Hybrid | |
|---|---|---|
| 2026 (year to date) | +1.20% | +1.69% |
| 2025 | +6.15% | +6.52% |
| 2024 | +11.07% | +12.80% |
| 2023 | +14.48% | +15.40% |
| 2022 | +6.49% | +5.71% |
| 2021 | +13.84% | +14.79% |
Risk
| HDFC Conservative Hybrid | Kotak Conservative Hybrid | |
|---|---|---|
| Volatility (annualised) ⓘ | 4.65% | 5.36% |
| Downside volatility ⓘ | 3.36% | 3.84% |
| Sharpe ratio ⓘ | 0.27 | 0.45 |
| Sortino ratio ⓘ | 0.37 | 0.63 |
| Maximum drawdown ⓘ | −12.08% | −11.80% |
| Recovery from that fall | 5 months | 3 months |
| Current fall from peak | −0.31% | −0.28% |
| Rolling 1-year return: worst | −6.17% | −2.15% |
| Rolling 1-year return: median | +8.98% | +10.77% |
| Rolling 1-year return: best | +30.06% | +30.91% |
| Share of 1-year periods with a loss | 6.41% | 1.36% |
Against each fund's benchmark
| HDFC Conservative Hybrid | Kotak Conservative Hybrid | |
|---|---|---|
| Beta ⓘ | — | — |
| Alpha (Jensen's, annualised) ⓘ | — | — |
| R² ⓘ | — | — |
| Upside capture | — | — |
| Downside capture | — | — |
| Tracking error | — | — |
| Information ratio | — | — |
| Treynor ratio | — | — |
Portfolio
Asset mix
| HDFC Conservative Hybrid | Kotak Conservative Hybrid | |
|---|---|---|
| Debt | 76.11% | 59.72% |
| Equity | 18.76% | 23.36% |
| Cash & equivalents | 3.99% | 16.08% |
| REITs / InvITs | 0.81% | 0.50% |
| AIF Units | 0.33% | 0.34% |
Market-cap split (share of fund assets)
| HDFC Conservative Hybrid | Kotak Conservative Hybrid | |
|---|---|---|
| Large Cap | 16.26% | 14.84% |
| Mid Cap | 1.63% | 6.61% |
| Small Cap | 0.87% | 0.91% |
| Unclassified | 0.00% | 1.00% |
Concentration
| HDFC Conservative Hybrid | Kotak Conservative Hybrid | |
|---|---|---|
| Top 10 holdings | 24.95% | 37.01% |
| Effective number of stocks ⓘ | 74 | 48.7 |
| Securities held | 109 | 117 |
Portfolio overlap: 17.9%
25 companies are held by both funds; by weight, 17.9% of the two portfolios is the same. That is a low overlap: the two portfolios are largely different.
| Held by both | HDFC Conservative Hybrid | Kotak Conservative Hybrid |
|---|---|---|
| Government Securities | 2.16% | 6.80% |
| 360 One Prime Limited | 1.62% | 1.84% |
| 7.24% Government of India (18/08/2055) | 1.53% | 7.12% |
| ICICI Bank Limited | 2.13% | 1.45% |
| State Bank of India | 1.39% | 1.24% |
| HDFC Bank Limited | 1.60% | 1.21% |
| Siddhivinayak Securitisation Trust | 1.08% | 2.62% |
| Muthoot Finance Ltd. | 1.61% | 0.91% |
| Reliance Industries Limited | 0.95% | 0.85% |
| 7.44% National Bank For Agriculture and Rural Development (17/07/2029) | 0.80% | 3.62% |
| Muthoot Finance Ltd. | 0.80% | 1.83% |
| Axis Bank Limited | 1.29% | 0.69% |
| Bharti Airtel Limited | 0.68% | 1.06% |
| NTPC Limited | 0.62% | 0.65% |
| Hero MotoCorp Limited | 0.42% | 0.93% |
Top 10 holdings
HDFC Conservative Hybrid
- 7.23% GOI MAT 1504393.21%
- 7.09% Government of India (05/08/2054)3.01%
- 7.34% GOI MAT 2204642.91%
- Indian Railways Finance Corp. Ltd.2.61%
- Government Securities2.48%
- Torrent Power Ltd.2.40%
- 7.3% GOI (MD 19/06/2053)2.32%
- Government Securities2.16%
- ICICI Bank Limited2.13%
- Altius Telecom Infrastructure Trust1.72%
Kotak Conservative Hybrid
- 7.24% Government of India (18/08/2055)7.12%
- Government Securities6.80%
- JTPM Metal Traders Limited3.95%
- Power Finance Corporation Ltd.3.62%
- 7.44% National Bank For Agriculture and Rural Development (17/07/2029)3.62%
- 7.57% LIC Housing Finance Limited (23/11/2029)2.72%
- Siddhivinayak Securitisation Trust2.62%
- Shivshakti Securitisation Trust2.62%
- National Housing Bank2.10%
- 360 One Prime Limited1.84%
Sector exposure
| HDFC Conservative Hybrid | Kotak Conservative Hybrid | |
|---|---|---|
| Sovereign | 25.38% | 16.37% |
| CRISIL AAA | 15.41% | 14.48% |
| CRISIL - AAA | 14.90% | 0.00% |
| Banks | 7.50% | 5.99% |
| CRISIL AAA(SO) | 1.08% | 5.24% |
| CRISIL AA | 0.00% | 5.22% |
| CRISIL AA+ | 4.78% | 2.74% |
| SOV | 2.48% | 4.29% |
| FITCH AA(CE) | 0.00% | 3.18% |
| CRISIL - AA+ | 2.40% | 0.00% |
| CARE - AAA | 2.33% | 0.00% |
| CARE AAA | 0.00% | 2.10% |
| Automobiles | 0.70% | 1.94% |
| ICRA AA | 1.62% | 1.84% |
Questions people ask
What is the difference between HDFC Conservative Hybrid and Kotak Conservative Hybrid returns?
As of 5 Nov 2026, Direct plan Growth option: 1-year return +1.91% vs +2.69%; 3-year CAGR +7.72% vs +8.91%; 5-year CAGR +7.69% vs +8.27%; 10-year CAGR +8.34% vs +9.57%. Past returns do not indicate future returns.
How do HDFC Conservative Hybrid and Kotak Conservative Hybrid compare on risk?
Volatility (36 monthly returns, annualised) 4.65% vs 5.36%; Sharpe ratio 0.27 vs 0.45; Sortino ratio 0.37 vs 0.63; maximum drawdown −12.08% vs −11.80%; beta — vs —.
How much do HDFC Conservative Hybrid and Kotak Conservative Hybrid overlap?
By weight, 17.9% of the two portfolios is invested in the same companies; 25 stocks are held by both, the largest shared positions being Government Securities, 360 One Prime Limited, 7.24% Government of India (18/08/2055). Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of HDFC Conservative Hybrid and Kotak Conservative Hybrid?
HDFC Conservative Hybrid: large cap 16.3%, mid cap 1.6%, small cap 0.9%. Kotak Conservative Hybrid: large cap 14.8%, mid cap 6.6%, small cap 0.9% (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 5 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.