HDFC Diversified Equity All Cap Active FOF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 17, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
HDFC Diversified Equity All Cap Active FOF Direct Growth Plan is an actively managed fund-of-funds that sits at a current NAV of ₹9.955 as of 16 Sep 2026. The scheme’s AUM stands at ₹2,700 Cr, and its 1-year, 3-year and 5-year returns are 0%, 0% and 0% respectively. It carries a High Risk tag, so our view is that it suits investors who can tolerate sharp swings and who want an equity-oriented allocation layered through underlying equity funds.
The current profile looks more suited to a patient investor than to someone looking for steady near-term gains. Recent performance has been soft, and the portfolio is built almost entirely from equity fund holdings, so the return path can differ meaningfully from a plain benchmark like Nifty 50.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹9.955 as of 16 Sep 2026 |
| AUM | ₹2,700 Cr |
| Expense Ratio | 0.26% |
| Launch Date | 29 Sep 2025 |
| Min SIP | ₹100 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Exit Load | 1% on or before 1Y, Nil after 1Y |
| Fund Managers | Srinivasan Ramamurthy |
The fund is managed by Srinivasan Ramamurthy.
Source data date: as of 16 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -3.62% | -4.41% |
| 3M | -0.12% | -3.6% |
| 1Y | Data not available | Data not available |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
Near-term performance has been weak in absolute terms, but the fund has still held up better than its benchmark over both the 1-month and 3-month windows. The 1-month return of -3.62% is not comfortable, yet the benchmark’s -4.41% shows the fund lost less than Nifty 50 over the same stretch.
The 3-month picture is also less negative for the fund than for the benchmark. That gap matters because it suggests the portfolio has not simply tracked the index down in lockstep; it has shown some relative resilience even while the absolute trend stayed subdued.
What stands out more, though, is the absence of meaningful longer-horizon return history in the visible performance snapshot. As a fund launched in late September 2025, it is still too early to read a mature compounding pattern from 3-year or 5-year figures here, so the recent drift matters more than any long-range narrative.
Our view is that this is currently a fund to judge on behaviour rather than on a long record of gains. The short-term pattern suggests active underlying choices have helped soften the fall versus the benchmark, but the recent numbers are still negative enough to keep expectations grounded.
Source data date: as of 16 Sep 2026
Should you BUY or HOLD HDFC Diversified Equity All Cap Active FOF?
A fund’s past returns alone don’t tell you whether you should buy it today or continue holding it.
The right decision depends on factors such as your current allocation, purchase price, risk profile, investment horizon and the role this fund plays in your overall portfolio.
Already holding HDFC Diversified Equity All Cap Active FOF? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| HDFC Diversified Equity All Cap Active FOF Direct Growth Plan | Data not available | Data not available | Data not available |
| Baroda BNP Paribas Gold ETF FoF Direct Growth Plan | 34.39% | Data not available | Data not available |
| HDFC Innovation Fund Direct Growth Plan | 14.3% | Data not available | Data not available |
| Bajaj Finserv Small Cap Fund Direct Growth Plan | 13.33% | Data not available | Data not available |
| Quant Equity Savings Fund Direct Growth Plan | 8.75% | Data not available | Data not available |
| Kotak Active Momentum Fund Direct Growth Plan | 6.31% | Data not available | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
On the latest 1-year comparison, this fund trails the better-performing peer set by a wide margin because its own 1-year figure is still not available in a meaningful way in the current snapshot. Several peers show positive 1-year returns, while this scheme’s recent record remains incomplete from the visible long-horizon perspective.
The short-term story is more balanced against the benchmark than against peers. The fund has been less negative than Nifty 50 over 1 month and 3 months, but peers in the table are showing positive 1-year outcomes, so the comparison points to different lenses: relative defence versus the benchmark, and still-developing return history versus peer funds.
Because the available peer data is concentrated in 1-year figures, the comparison says more about recent momentum than about stable long-term consistency. The key takeaway is that the fund has shown some near-term resilience versus Nifty 50, but it does not yet have a long return record that would let us judge its longer-term standing on the same basis as older peers.
Source data date: as of 16 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| HDFC Large Cap Fund – Direct Plan – Growth Option | Domestic Mutual Funds Units | 34.32% |
| HDFC Flexi Cap Fund – Direct Plan- Growth Option | Domestic Mutual Funds Units | 27.89% |
| HDFC Large & Mid Cap Fund – Direct Plan- Growth Option | Domestic Mutual Funds Units | 14.29% |
| HDFC Small Cap Fund – Direct Plan- Growth Option | Domestic Mutual Funds Units | 12.11% |
| HDFC Multi Cap Fund – Direct Plan – Growth Option | Domestic Mutual Funds Units | 9.04% |
| TREPS – Tri-Party Repo | Cash & Cash Equivalents and Net Assets | 2.58% |
The largest holding is HDFC Large Cap Fund – Direct Plan – Growth Option at 34.32%, which is a very large single position for a fund-of-funds structure. That means the fund’s outcome may be influenced meaningfully by how that underlying strategy behaves.
Weights then step down to 27.89%, 14.29%, 12.11%, 9.04% and 2.58%. The drop from the first holding to the fifth is steep, but the allocation is not spread thinly across many small positions; instead, it is concentrated in a short list of underlying HDFC schemes.
The top six disclosed holdings together account for 100% of the portfolio, and there are six holdings disclosed in total. That makes the structure easy to read, but also means there is very little visible tail beyond the listed positions, so the portfolio’s behaviour is likely to come mainly from this concentrated core.
Source data date: as of 16 Sep 2026
Who should invest
This fund is best suited to investors who can accept High Risk exposure and who are comfortable with an equity-led fund-of-funds structure. The recent return pattern is weak in absolute terms, but it has been less negative than the benchmark over the short windows we can observe, so it may appeal more to someone focused on diversification and active underlying fund selection than on smooth near-term performance.
The lack of a long return history means the investment horizon should be fairly long, and patience is important. The main trade-off is clear: the portfolio may offer active diversification across several HDFC equity strategies, but that comes with concentrated exposure to a small set of underlying funds and a performance record that is still developing.
Tax and exit load
| Holding period | Tax rate | Description |
|---|---|---|
| Units held less than 1 year | 20% | Short-term capital gains tax |
| Units held more than 1 year | 12.5% | Long-term capital gains tax |
Exit load: 1% if units are sold on or before 1 year; nil after 1 year.
Source data date: as of 16 Sep 2026
Frequently asked questions
What is the current NAV of HDFC Diversified Equity All Cap Active FOF Direct Growth Plan?
The current NAV is ₹9.955 as of 16 Sep 2026.
How has the fund performed recently?
The fund’s 1-month return is -3.62% and its 3-month return is -0.12%. That is weaker in absolute terms, but still better than the benchmark over the same short windows.
How does it compare with Nifty 50?
It has done better than Nifty 50 in the recent short windows available here. The fund fell less than the benchmark over both 1 month and 3 months.
What are the fund’s 1-year, 3-year and 5-year returns?
The visible long-horizon return fields are not available for this scheme in the current snapshot. The fund is too new for a mature long-term record, having launched on 29 Sep 2025.
What is the minimum SIP amount?
The minimum SIP amount is ₹100.
What is the risk and portfolio style of this fund?
It is marked High Risk and is built almost entirely from a small group of underlying equity funds, led by HDFC Large Cap Fund at 34.32%. That structure can make the fund’s behaviour more dependent on a few core holdings.
Bottom line
This fund’s short-term behaviour has been better than Nifty 50, but the recent return picture is still negative and the long-horizon record is not yet meaningful. Against peers, the available comparison points show stronger 1-year outcomes elsewhere, while this fund’s own record is still developing. The portfolio is concentrated in a handful of underlying HDFC schemes, so investors need to be comfortable with a High Risk structure and a fairly focused set of exposures.
Published on 17 September 2026 at 11:34 AM IST
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RIA disclosure
Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. This review is prepared by Uniapps Investment Adviser Pvt. Ltd. (earlier known as Uniapps Global Research Pvt. Ltd.) under SEBI Registered Investment Adviser registration INA000017639 for general informational purposes and is not personalized investment advice.