HSBC Value Fund vs Union Value Fund
HSBC Value Fund and Union Value Fund are both Value / Contra funds. As of 4 Nov 2026 (Direct plan, Growth option): 3-year CAGR +14.86% vs +11.71%, 5-year CAGR — vs +11.11%, volatility 16.11% vs 14.47%, maximum drawdown −19.61% vs −37.68%. Their portfolios overlap by 36.9% (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
| HSBC Value | Union Value | |
|---|---|---|
| Fund house | HSBC Mutual Fund | Union Mutual Fund |
| Compared as | Value / Contra | Value / Contra |
| NAV | ₹124.4283 | ₹30.0000 |
| NAV date | 4 Nov 2026 | 4 Nov 2026 |
| Launched (first NAV) | 28 Nov 2022 | 12 Dec 2018 |
| Track record | 3.9 yrs | 7.9 yrs |
| Fund size (AUM) | ₹14,660 Cr | ₹378 Cr |
| Securities held | 86 | 71 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| HSBC Value | Union Value | |
|---|---|---|
| 1 month | +1.19% | +2.08% |
| 3 months | −4.11% | −5.03% |
| 6 months | −3.19% | −1.90% |
| 1 year | −1.66% | −3.01% |
| 3 years (CAGR) | +14.86% | +11.71% |
| 5 years (CAGR) | — | +11.11% |
| 7 years (CAGR) | — | +15.77% |
| 10 years (CAGR) | — | — |
| Since launch (CAGR) | +17.19% | +14.78% |
| SIP return (XIRR, 5 years) ⓘ | — | +10.57% |
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 | Union Value | |
|---|---|---|
| 2026 (year to date) | −3.43% | −3.47% |
| 2025 | +8.02% | +7.95% |
| 2024 | +27.13% | +17.94% |
| 2023 | +40.71% | +34.56% |
| 2022 | — | +5.90% |
| 2021 | — | +33.20% |
Risk
| HSBC Value | Union Value | |
|---|---|---|
| Volatility (annualised) ⓘ | 16.11% | 14.47% |
| Downside volatility ⓘ | 11.05% | 10.22% |
| Sharpe ratio ⓘ | 0.52 | 0.36 |
| Sortino ratio ⓘ | 0.76 | 0.51 |
| Maximum drawdown ⓘ | −19.61% | −37.68% |
| Recovery from that fall | 4 months | 7 months |
| Current fall from peak | −5.31% | −5.18% |
| Rolling 1-year return: worst | −5.67% | −33.90% |
| Rolling 1-year return: median | +11.43% | +10.90% |
| Rolling 1-year return: best | +64.98% | +101.29% |
| Share of 1-year periods with a loss | 6.07% | 10.10% |
Against each fund's benchmark
| HSBC Value | Union Value | |
|---|---|---|
| Beta ⓘ | 1.02 | 0.93 |
| Alpha (Jensen's, annualised) ⓘ | +3.63% | +0.80% |
| R² ⓘ | 91.62 | 93.79 |
| Upside capture | 115.02% | 97.56% |
| Downside capture | 101.20% | 92.68% |
| Tracking error | 4.86% | 3.91% |
| Information ratio | 0.82 | 0.16 |
| Treynor ratio | 7.48 | 4.66 |
Portfolio
Asset mix
| HSBC Value | Union Value | |
|---|---|---|
| Equity | 98.11% | 96.34% |
| Cash & equivalents | 1.89% | 3.58% |
| Debt | 0.00% | 0.08% |
Market-cap split (share of fund assets)
| HSBC Value | Union Value | |
|---|---|---|
| Large Cap | 41.68% | 55.53% |
| Mid Cap | 17.66% | 14.61% |
| Small Cap | 38.28% | 25.45% |
| Unclassified | 0.49% | 0.75% |
Concentration
| HSBC Value | Union Value | |
|---|---|---|
| Top 10 holdings | 31.57% | 32.72% |
| Effective number of stocks ⓘ | 54.8 | 50.1 |
| Securities held | 86 | 71 |
Portfolio overlap: 36.9%
25 companies are held by both funds; by weight, 36.9% of the two portfolios is the same. That is a moderate overlap.
| Held by both | HSBC Value | Union Value |
|---|---|---|
| HDFC Bank Limited | 5.07% | 4.12% |
| ICICI Bank Limited | 4.00% | 6.44% |
| State Bank of India | 3.01% | 2.93% |
| Reliance Industries Limited | 2.72% | 3.75% |
| Larsen & Toubro Limited | 2.10% | 2.16% |
| Shriram Finance Limited | 2.09% | 2.73% |
| Tech Mahindra Limited | 1.95% | 2.19% |
| NTPC Limited | 1.60% | 2.21% |
| Maruti Suzuki India Limited | 1.38% | 2.00% |
| Jindal Steel Limited | 1.32% | 1.92% |
| Bharti Airtel Limited | 1.24% | 2.98% |
| Balrampur Chini Mills Limited | 2.33% | 1.23% |
| The Federal Bank Limited | 3.15% | 1.21% |
| Power Mech Projects Ltd. | 1.20% | 1.51% |
| Axis Bank Limited | 1.18% | 3.21% |
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%
Union Value
- ICICI Bank Limited6.44%
- HDFC Bank Limited4.12%
- Reliance Industries Limited3.75%
- Axis Bank Limited3.21%
- Bharti Airtel Limited2.98%
- State Bank of India2.93%
- Shriram Finance Limited2.73%
- NTPC Limited2.21%
- Tech Mahindra Limited2.19%
- Larsen & Toubro Limited2.16%
Sector exposure
| HSBC Value | Union Value | |
|---|---|---|
| Banks | 24.68% | 21.15% |
| Finance | 7.57% | 3.68% |
| Textiles & Apparels | 7.05% | 0.71% |
| IT - Software | 3.56% | 6.89% |
| Industrial Products | 6.11% | 3.03% |
| Pharmaceuticals & Biotechnology | 1.83% | 5.63% |
| Construction | 3.95% | 5.58% |
| Petroleum Products | 3.71% | 4.54% |
| Automobiles | 4.32% | 2.53% |
| Auto Components | 0.49% | 4.07% |
| Retailing | 1.20% | 3.91% |
| Realty | 3.41% | 1.93% |
| Agricultural Food & other Products | 3.29% | 1.23% |
| Power | 1.60% | 3.08% |
Questions people ask
What is the difference between HSBC Value and Union Value returns?
As of 4 Nov 2026, Direct plan Growth option: 1-year return −1.66% vs −3.01%; 3-year CAGR +14.86% vs +11.71%; 5-year CAGR — vs +11.11%; 10-year CAGR — vs —. Past returns do not indicate future returns.
How do HSBC Value and Union Value compare on risk?
Volatility (36 monthly returns, annualised) 16.11% vs 14.47%; Sharpe ratio 0.52 vs 0.36; Sortino ratio 0.76 vs 0.51; maximum drawdown −19.61% vs −37.68%; beta 1.02 vs 0.93.
How much do HSBC Value and Union Value overlap?
By weight, 36.9% of the two portfolios is invested in the same companies; 25 stocks are held by both, the largest shared positions being HDFC Bank Limited, ICICI Bank Limited, State Bank of India. Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of HSBC Value and Union Value?
HSBC Value: large cap 41.7%, mid cap 17.7%, small cap 38.3%. Union Value: large cap 55.5%, mid cap 14.6%, small cap 25.5% (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
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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 4 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.