HDFC Retirement Fund - Equity Plan vs SBI Retirement Benefit Fund - Conservative Hybrid Plan
HDFC Retirement Fund - Equity 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 +10.96% vs +7.57%, 5-year CAGR +12.35% vs +7.79%, volatility 13.63% vs 7.17%, maximum drawdown −34.89% vs −6.87%. Their portfolios overlap by 12.7% (10 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 Retirement Fund - Equity Plan | SBI Retirement Benefit Fund - Conservative Hybrid Plan | |
|---|---|---|
| Fund house | HDFC Mutual Fund | SBI Mutual Fund |
| Compared as | Retirement Funds | Retirement Funds |
| NAV | ₹57.0860 | ₹16.5821 |
| NAV date | 6 Nov 2026 | 6 Nov 2026 |
| Launched (first NAV) | 26 Feb 2016 | 17 Feb 2021 |
| Track record | 10.7 yrs | 5.7 yrs |
| Fund size (AUM) | ₹6,998 Cr | ₹248 Cr |
| Securities held | 72 | 66 |
| Portfolio as of | 31 Aug 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| HDFC Retirement Fund - Equity Plan | SBI Retirement Benefit Fund - Conservative Hybrid Plan | |
|---|---|---|
| 1 month | +6.83% | +2.60% |
| 3 months | +0.57% | +0.53% |
| 6 months | +3.05% | +3.60% |
| 1 year | −1.87% | +3.20% |
| 3 years (CAGR) | +10.96% | +7.57% |
| 5 years (CAGR) | +12.35% | +7.79% |
| 7 years (CAGR) | +17.86% | — |
| 10 years (CAGR) | +15.74% | — |
| Since launch (CAGR) | +17.69% | +9.15% |
| SIP return (XIRR, 5 years) ⓘ | +10.68% | +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
| HDFC Retirement Fund - Equity Plan | SBI Retirement Benefit Fund - Conservative Hybrid Plan | |
|---|---|---|
| 2026 (year to date) | −3.19% | +2.37% |
| 2025 | +6.24% | +5.48% |
| 2024 | +19.33% | +9.91% |
| 2023 | +34.15% | +15.83% |
| 2022 | +9.95% | +5.67% |
| 2021 | +44.27% | — |
Risk
| HDFC Retirement Fund - Equity Plan | SBI Retirement Benefit Fund - Conservative Hybrid Plan | |
|---|---|---|
| Volatility (annualised) ⓘ | 13.63% | 7.17% |
| Downside volatility ⓘ | 9.86% | 5.25% |
| Sharpe ratio ⓘ | 0.33 | 0.15 |
| Sortino ratio ⓘ | 0.45 | 0.20 |
| Maximum drawdown ⓘ | −34.89% | −6.87% |
| Recovery from that fall | 7 months | 3 months |
| Current fall from peak | −4.16% | 0.00% |
| Rolling 1-year return: worst | −30.94% | −2.20% |
| Rolling 1-year return: median | +12.14% | +7.56% |
| Rolling 1-year return: best | +95.98% | +18.91% |
| Share of 1-year periods with a loss | 17.12% | 3.91% |
Against each fund's benchmark
| HDFC Retirement Fund - Equity Plan | SBI Retirement Benefit Fund - Conservative Hybrid Plan | |
|---|---|---|
| Beta ⓘ | 0.90 | 0.45 |
| Alpha (Jensen's, annualised) ⓘ | +0.95% | −0.94% |
| R² ⓘ | 95.30 | 89.66 |
| Upside capture | 95.02% | 53.48% |
| Downside capture | 87.44% | 40.98% |
| Tracking error | 3.33% | 8.43% |
| Information ratio | 0.27 | -0.20 |
| Treynor ratio | 3.20 | 0.55 |
Portfolio
Asset mix
| HDFC Retirement Fund - Equity Plan | SBI Retirement Benefit Fund - Conservative Hybrid Plan | |
|---|---|---|
| Equity | 93.58% | 38.20% |
| Cash & equivalents | 4.91% | 23.62% |
| ETF Units | 0.94% | 0.00% |
| REITs / InvITs | 0.57% | 2.00% |
| Debt | 0.00% | 36.18% |
Market-cap split (share of fund assets)
| HDFC Retirement Fund - Equity Plan | SBI Retirement Benefit Fund - Conservative Hybrid Plan | |
|---|---|---|
| Large Cap | 63.19% | 18.61% |
| Mid Cap | 10.14% | 9.84% |
| Small Cap | 20.17% | 9.04% |
| Unclassified | 0.08% | 0.71% |
Concentration
| HDFC Retirement Fund - Equity Plan | SBI Retirement Benefit Fund - Conservative Hybrid Plan | |
|---|---|---|
| Top 10 holdings | 41.20% | 34.24% |
| Effective number of stocks ⓘ | 38.5 | 45.7 |
| Securities held | 72 | 66 |
Portfolio overlap: 12.7%
10 companies are held by both funds; by weight, 12.7% of the two portfolios is the same. That is a low overlap: the two portfolios are largely different.
| Held by both | HDFC Retirement Fund - Equity Plan | SBI Retirement Benefit Fund - Conservative Hybrid Plan |
|---|---|---|
| HDFC Bank Limited | 6.59% | 2.54% |
| ICICI Bank Limited | 7.69% | 2.31% |
| Larsen & Toubro Limited | 2.31% | 1.58% |
| State Bank of India | 3.03% | 1.49% |
| Maruti Suzuki India Limited | 3.07% | 1.18% |
| Kotak Mahindra Bank Limited | 4.20% | 1.07% |
| Hyundai Motor India Ltd. | 0.95% | 0.75% |
| Divi's Laboratories Limited | 1.08% | 0.71% |
| Timken India Ltd. | 0.55% | 0.73% |
| InterGlobe Aviation Limited | 1.87% | 0.48% |
Top 10 holdings
HDFC Retirement Fund - Equity Plan
- ICICI Bank Limited7.69%
- HDFC Bank Limited6.59%
- Reliance Industries Limited4.74%
- Axis Bank Limited4.46%
- Kotak Mahindra Bank Limited4.20%
- Maruti Suzuki India Limited3.07%
- State Bank of India3.03%
- Bharti Airtel Limited2.59%
- Infosys Limited2.43%
- Tata Consultancy Services Limited2.40%
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
| HDFC Retirement Fund - Equity Plan | SBI Retirement Benefit Fund - Conservative Hybrid Plan | |
|---|---|---|
| Banks | 26.39% | 7.41% |
| CRISIL AAA | 0.00% | 12.98% |
| Sovereign | 0.00% | 10.38% |
| IT - Software | 7.24% | 1.52% |
| Automobiles | 6.76% | 2.65% |
| Transport Services | 5.74% | 0.48% |
| Petroleum Products | 5.63% | 0.00% |
| CRISIL AA+ | 0.00% | 4.85% |
| Insurance | 4.69% | 0.00% |
| Pharmaceuticals & Biotechnology | 4.48% | 2.75% |
| CRISIL AAA(CE) | 0.00% | 3.97% |
| Construction | 3.32% | 1.58% |
| Healthcare Services | 2.89% | 0.00% |
| Power | 2.86% | 0.48% |
Questions people ask
What is the difference between HDFC Retirement Fund - Equity Plan and SBI Retirement Benefit Fund - Conservative Hybrid Plan returns?
As of 6 Nov 2026, Direct plan Growth option: 1-year return −1.87% vs +3.20%; 3-year CAGR +10.96% vs +7.57%; 5-year CAGR +12.35% vs +7.79%; 10-year CAGR +15.74% vs —. Past returns do not indicate future returns.
How do HDFC Retirement Fund - Equity Plan and SBI Retirement Benefit Fund - Conservative Hybrid Plan compare on risk?
Volatility (36 monthly returns, annualised) 13.63% vs 7.17%; Sharpe ratio 0.33 vs 0.15; Sortino ratio 0.45 vs 0.20; maximum drawdown −34.89% vs −6.87%; beta 0.90 vs 0.45.
How much do HDFC Retirement Fund - Equity Plan and SBI Retirement Benefit Fund - Conservative Hybrid Plan overlap?
By weight, 12.7% of the two portfolios is invested in the same companies; 10 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 Aug 2026 and Sep 2026.
What is the large, mid and small cap split of HDFC Retirement Fund - Equity Plan and SBI Retirement Benefit Fund - Conservative Hybrid Plan?
HDFC Retirement Fund - Equity Plan: large cap 63.2%, mid cap 10.1%, small cap 20.2%. 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.