HSBC Value Fund vs JM Value Fund
HSBC Value Fund and JM Value Fund are both Value / Contra funds. As of 5 Nov 2026 (Direct plan, Growth option): 3-year CAGR +15.60% vs +11.67%, 5-year CAGR — vs +13.26%, volatility 16.28% vs 19.50%, maximum drawdown −19.61% vs −37.93%. Their portfolios overlap by 23.7% (21 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 Value | JM Value | |
|---|---|---|
| Fund house | HSBC Mutual Fund | JM Financial Mutual Fund |
| Compared as | Value / Contra | Value / Contra |
| NAV | ₹126.9022 | ₹107.6220 |
| NAV date | 5 Nov 2026 | 5 Nov 2026 |
| Launched (first NAV) | 28 Nov 2022 | 2 Jan 2013 |
| Track record | 3.9 yrs | 13.8 yrs |
| Fund size (AUM) | ₹14,660 Cr | ₹780 Cr |
| Securities held | 86 | 74 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| HSBC Value | JM Value | |
|---|---|---|
| 1 month | +2.21% | −0.88% |
| 3 months | −2.39% | −2.95% |
| 6 months | −1.80% | +0.37% |
| 1 year | +0.30% | −2.48% |
| 3 years (CAGR) | +15.60% | +11.67% |
| 5 years (CAGR) | — | +13.26% |
| 7 years (CAGR) | — | +17.05% |
| 10 years (CAGR) | — | +15.38% |
| Since launch (CAGR) | +17.76% | +15.50% |
| SIP return (XIRR, 5 years) ⓘ | — | +11.93% |
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 Value | JM Value | |
|---|---|---|
| 2026 (year to date) | −1.51% | −1.07% |
| 2025 | +8.02% | −3.20% |
| 2024 | +27.13% | +26.72% |
| 2023 | +40.71% | +48.68% |
| 2022 | — | +6.05% |
| 2021 | — | +37.17% |
Risk
| HSBC Value | JM Value | |
|---|---|---|
| Volatility (annualised) ⓘ | 16.28% | 19.50% |
| Downside volatility ⓘ | 11.05% | 13.08% |
| Sharpe ratio ⓘ | 0.56 | 0.27 |
| Sortino ratio ⓘ | 0.83 | 0.40 |
| Maximum drawdown ⓘ | −19.61% | −37.93% |
| Recovery from that fall | 4 months | 8 months |
| Current fall from peak | −3.43% | −12.55% |
| Rolling 1-year return: worst | −5.67% | −31.13% |
| Rolling 1-year return: median | +11.39% | +13.36% |
| Rolling 1-year return: best | +64.98% | +96.22% |
| Share of 1-year periods with a loss | 6.06% | 23.67% |
Against each fund's benchmark
| HSBC Value | JM Value | |
|---|---|---|
| Beta ⓘ | 1.02 | 1.14 |
| Alpha (Jensen's, annualised) ⓘ | +3.63% | −0.34% |
| R² ⓘ | 91.62 | 81.99 |
| Upside capture | 115.02% | 116.03% |
| Downside capture | 101.20% | 125.80% |
| Tracking error | 4.86% | 8.64% |
| Information ratio | 0.82 | -0.05 |
| Treynor ratio | 7.48 | 2.85 |
Portfolio
Asset mix
| HSBC Value | JM Value | |
|---|---|---|
| Equity | 98.11% | 98.83% |
| Cash & equivalents | 1.89% | 1.22% |
Market-cap split (share of fund assets)
| HSBC Value | JM Value | |
|---|---|---|
| Large Cap | 41.68% | 32.30% |
| Mid Cap | 17.66% | 7.02% |
| Small Cap | 38.28% | 55.67% |
| Unclassified | 0.49% | 3.79% |
Concentration
| HSBC Value | JM Value | |
|---|---|---|
| Top 10 holdings | 31.57% | 30.26% |
| Effective number of stocks ⓘ | 54.8 | 52.8 |
| Securities held | 86 | 74 |
Portfolio overlap: 23.7%
21 companies are held by both funds; by weight, 23.7% of the two portfolios is the same. That is a low overlap: the two portfolios are largely different.
| Held by both | HSBC Value | JM Value |
|---|---|---|
| ICICI Bank Limited | 4.00% | 3.78% |
| Larsen & Toubro Limited | 2.10% | 3.38% |
| Shriram Finance Limited | 2.09% | 3.40% |
| Tech Mahindra Limited | 1.95% | 2.52% |
| HDFC Bank Limited | 5.07% | 1.82% |
| Finolex Cables Limited | 2.97% | 1.32% |
| Bharti Airtel Limited | 1.24% | 2.70% |
| Axis Bank Limited | 1.18% | 1.26% |
| Jindal Saw Ltd | 1.50% | 1.10% |
| Paradeep Phosphates Limited | 1.00% | 1.07% |
| Tata Motors Ltd | 0.95% | 2.55% |
| Infosys Limited | 0.84% | 2.43% |
| Godfrey Phillips India Limited | 0.78% | 2.14% |
| INDO COUNT INDUSTRIES LIMITED | 0.73% | 1.77% |
| NTPC Limited | 1.60% | 0.62% |
Top 10 holdings
HSBC Value
- HDFC Bank Limited5.07%
- ICICI Bank Limited4.00%
- Karur Vysya Bank Limited3.50%
- The Federal Bank Limited3.15%
- State Bank of India3.01%
- Finolex Cables Limited2.97%
- Reliance Industries Limited2.72%
- PNB Housing Finance Limited2.72%
- Balrampur Chini Mills Limited2.33%
- Larsen & Toubro Limited2.10%
JM Value
- Redington Limited4.70%
- ICICI Bank Limited3.78%
- Shriram Finance Limited3.40%
- Larsen & Toubro Limited3.38%
- Bharti Airtel Limited2.70%
- Tata Motors Ltd2.55%
- Jana Small Finance Bank Ltd2.55%
- Tech Mahindra Limited2.52%
- Infosys Limited2.43%
- JK Tyre & Industries Limited2.26%
Sector exposure
| HSBC Value | JM Value | |
|---|---|---|
| Banks | 24.68% | 11.32% |
| Finance | 7.57% | 10.80% |
| Auto Components | 0.49% | 7.91% |
| Textiles & Apparels | 7.05% | 3.57% |
| Industrial Products | 6.11% | 4.47% |
| Construction | 3.95% | 5.63% |
| Electrical Equipment | 2.23% | 5.17% |
| IT - Software | 3.56% | 4.94% |
| Commercial Services & Supplies | 0.00% | 4.70% |
| Automobiles | 4.32% | 1.41% |
| Agricultural, Commercial & Construction Vehicles | 0.95% | 3.90% |
| Petroleum Products | 3.71% | 0.54% |
| Leisure Services | 1.90% | 3.64% |
| Realty | 3.41% | 0.53% |
Questions people ask
What is the difference between HSBC Value and JM Value returns?
As of 5 Nov 2026, Direct plan Growth option: 1-year return +0.30% vs −2.48%; 3-year CAGR +15.60% vs +11.67%; 5-year CAGR — vs +13.26%; 10-year CAGR — vs +15.38%. Past returns do not indicate future returns.
How do HSBC Value and JM Value compare on risk?
Volatility (36 monthly returns, annualised) 16.28% vs 19.50%; Sharpe ratio 0.56 vs 0.27; Sortino ratio 0.83 vs 0.40; maximum drawdown −19.61% vs −37.93%; beta 1.02 vs 1.14.
How much do HSBC Value and JM Value overlap?
By weight, 23.7% of the two portfolios is invested in the same companies; 21 stocks are held by both, the largest shared positions being ICICI Bank Limited, Larsen & Toubro Limited, Shriram Finance Limited. Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of HSBC Value and JM Value?
HSBC Value: large cap 41.7%, mid cap 17.7%, small cap 38.3%. JM Value: large cap 32.3%, mid cap 7.0%, small cap 55.7% (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.
More comparisons
HSBC Value vs
All Value / Contra comparisons → · Compare up to six funds yourself → · Every fund in this category → · All comparisons →
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.