HSBC Infrastructure Fund vs ICICI Prudential Infrastructure Fund
HSBC Infrastructure Fund and ICICI Prudential Infrastructure Fund are both Infrastructure Funds. As of 6 Nov 2026 (Direct plan, Growth option): 3-year CAGR +15.24% vs +16.05%, 5-year CAGR — vs +19.03%, volatility 21.12% vs 17.68%, maximum drawdown −25.35% vs −46.83%. Their portfolios overlap by 22.2% (11 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
| HSBC Infrastructure | ICICI Prudential Infrastructure | |
|---|---|---|
| Fund house | HSBC Mutual Fund | ICICI Prudential Mutual Fund |
| Compared as | Infrastructure Funds | Infrastructure Funds |
| NAV | ₹55.3959 | ₹209.9600 |
| NAV date | 6 Nov 2026 | 6 Nov 2026 |
| Launched (first NAV) | 28 Nov 2022 | 2 Jan 2013 |
| Track record | 3.9 yrs | 13.8 yrs |
| Fund size (AUM) | ₹2,379 Cr | ₹8,227 Cr |
| Securities held | 49 | 80 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| HSBC Infrastructure | ICICI Prudential Infrastructure | |
|---|---|---|
| 1 month | −3.04% | −0.29% |
| 3 months | −3.75% | −6.25% |
| 6 months | −3.50% | −5.25% |
| 1 year | +5.53% | −2.81% |
| 3 years (CAGR) | +15.24% | +16.05% |
| 5 years (CAGR) | — | +19.03% |
| 7 years (CAGR) | — | +21.85% |
| 10 years (CAGR) | — | +17.48% |
| Since launch (CAGR) | +19.12% | +15.60% |
| SIP return (XIRR, 5 years) ⓘ | — | +15.46% |
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
| HSBC Infrastructure | ICICI Prudential Infrastructure | |
|---|---|---|
| 2026 (year to date) | +6.39% | −2.47% |
| 2025 | −3.38% | +7.50% |
| 2024 | +29.43% | +28.35% |
| 2023 | +52.22% | +45.40% |
| 2022 | — | +29.60% |
| 2021 | — | +50.82% |
Risk
| HSBC Infrastructure | ICICI Prudential Infrastructure | |
|---|---|---|
| Volatility (annualised) ⓘ | 21.12% | 17.68% |
| Downside volatility ⓘ | 13.11% | 11.01% |
| Sharpe ratio ⓘ | 0.41 | 0.54 |
| Sortino ratio ⓘ | 0.67 | 0.87 |
| Maximum drawdown ⓘ | −25.35% | −46.83% |
| Recovery from that fall | 16 months | 10 months |
| Current fall from peak | −6.38% | −7.27% |
| Rolling 1-year return: worst | −11.37% | −39.74% |
| Rolling 1-year return: median | +11.54% | +13.93% |
| Rolling 1-year return: best | +77.32% | +116.31% |
| Share of 1-year periods with a loss | 22.59% | 22.66% |
Against each fund's benchmark
| HSBC Infrastructure | ICICI Prudential Infrastructure | |
|---|---|---|
| Beta ⓘ | 1.19 | 1.08 |
| Alpha (Jensen's, annualised) ⓘ | +4.40% | +4.47% |
| R² ⓘ | 74.81 | 87.06 |
| Upside capture | 133.04% | 120.85% |
| Downside capture | 122.37% | 104.03% |
| Tracking error | 11.16% | 6.63% |
| Information ratio | 0.42 | 0.75 |
| Treynor ratio | 7.07 | 8.02 |
Portfolio
Asset mix
| HSBC Infrastructure | ICICI Prudential Infrastructure | |
|---|---|---|
| Equity | 95.82% | 96.90% |
| Cash & equivalents | 4.18% | 1.78% |
| Debt | 0.00% | 0.71% |
| REITs / InvITs | 0.00% | 0.62% |
Market-cap split (share of fund assets)
| HSBC Infrastructure | ICICI Prudential Infrastructure | |
|---|---|---|
| Large Cap | 53.05% | 41.30% |
| Mid Cap | 9.59% | 20.25% |
| Small Cap | 27.05% | 34.21% |
| Unclassified | 6.13% | 1.13% |
Concentration
| HSBC Infrastructure | ICICI Prudential Infrastructure | |
|---|---|---|
| Top 10 holdings | 50.87% | 40.48% |
| Effective number of stocks ⓘ | 28.5 | 36.9 |
| Securities held | 49 | 80 |
Portfolio overlap: 22.2%
11 companies are held by both funds; by weight, 22.2% of the two portfolios is the same. That is a low overlap: the two portfolios are largely different.
| Held by both | HSBC Infrastructure | ICICI Prudential Infrastructure |
|---|---|---|
| Larsen & Toubro Limited | 6.99% | 5.38% |
| Reliance Industries Limited | 4.43% | 4.37% |
| InterGlobe Aviation Limited | 4.09% | 8.37% |
| NTPC Limited | 7.68% | 3.55% |
| ABB India Limited | 1.94% | 1.48% |
| Hindalco Industries Limited | 1.00% | 1.42% |
| Siemens Energy India Limited | 0.84% | 1.06% |
| Juniper Green Energy Limited | 2.05% | 0.64% |
| Cummins India Limited | 0.55% | 2.54% |
| UltraTech Cement Limited | 3.64% | 0.23% |
| Ahluwalia Contracts (India) Limited | 0.26% | 0.06% |
Top 10 holdings
HSBC Infrastructure
- NTPC Limited7.68%
- Larsen & Toubro Limited6.99%
- Bharti Airtel Limited6.46%
- Bharat Electronics Limited5.79%
- MTAR Technologies Limited4.67%
- Reliance Industries Limited4.43%
- InterGlobe Aviation Limited4.09%
- UltraTech Cement Limited3.64%
- Kirloskar Oil Engines Limited3.60%
- Hindustan Aeronautics Limited3.52%
ICICI Prudential Infrastructure
- InterGlobe Aviation Limited8.37%
- Larsen & Toubro Limited5.38%
- Oberoi Realty Limited4.37%
- Reliance Industries Limited4.37%
- NTPC Limited3.55%
- Kalpataru Projects International Ltd3.07%
- Brigade Enterprises Limited2.98%
- Shree Cement Limited2.90%
- HDFC Bank Limited2.89%
- GMM Pfaudler Limited2.59%
Sector exposure
| HSBC Infrastructure | ICICI Prudential Infrastructure | |
|---|---|---|
| Electrical Equipment | 20.25% | 4.84% |
| Construction | 10.16% | 15.80% |
| Industrial Products | 14.46% | 12.64% |
| Transport Services | 5.46% | 9.99% |
| Power | 9.73% | 6.70% |
| Aerospace & Defense | 9.31% | 0.00% |
| Realty | 0.93% | 7.97% |
| Telecom - Services | 6.46% | 0.06% |
| Banks | 0.00% | 5.88% |
| Cement & Cement Products | 3.64% | 5.72% |
| Industrial Manufacturing | 4.63% | 3.34% |
| Petroleum Products | 4.43% | 4.37% |
| Finance | 0.00% | 3.27% |
| Gas | 0.00% | 2.72% |
Questions people ask
What is the difference between HSBC Infrastructure and ICICI Prudential Infrastructure returns?
As of 6 Nov 2026, Direct plan Growth option: 1-year return +5.53% vs −2.81%; 3-year CAGR +15.24% vs +16.05%; 5-year CAGR — vs +19.03%; 10-year CAGR — vs +17.48%. Past returns do not indicate future returns.
How do HSBC Infrastructure and ICICI Prudential Infrastructure compare on risk?
Volatility (36 monthly returns, annualised) 21.12% vs 17.68%; Sharpe ratio 0.41 vs 0.54; Sortino ratio 0.67 vs 0.87; maximum drawdown −25.35% vs −46.83%; beta 1.19 vs 1.08.
How much do HSBC Infrastructure and ICICI Prudential Infrastructure overlap?
By weight, 22.2% of the two portfolios is invested in the same companies; 11 stocks are held by both, the largest shared positions being Larsen & Toubro Limited, Reliance Industries Limited, InterGlobe Aviation Limited. Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of HSBC Infrastructure and ICICI Prudential Infrastructure?
HSBC Infrastructure: large cap 53.1%, mid cap 9.6%, small cap 27.1%. ICICI Prudential Infrastructure: large cap 41.3%, mid cap 20.3%, small cap 34.2% (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.