HDFC Technology Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 18, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
HDFC Technology Fund Direct Growth Plan had a NAV of ₹11.904 as of 17 Sep 2026 and an AUM of ₹1,483 Cr. Its 1-year, 3-year and 5-year returns are -13.02%, 5.64% and 0%, respectively, and the fund is in the High Risk bucket. Our view is that this is a technology-focused equity fund with a concentrated top-holding profile, so it may suit investors who can tolerate sharp swings and want sector-led exposure rather than steadier broad-market behaviour.
The current setup looks mixed: the 3-year return is positive, but the 1-year number is weak and the 5-year track record is too short to yet build a long compounding record. That makes the fund more suitable for a long horizon and for investors who can accept periods of underperformance against the benchmark.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹11.904 as of 17 Sep 2026 |
| AUM | ₹1,483 Cr |
| Expense Ratio | 0.96% |
| Launch Date | 08 Sep 2023 |
| Min SIP | ₹100 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Equity |
| Exit Load | 1% on or before 30D, Nil after 30D |
| Fund Managers | Balakumar B |
The fund is managed by Balakumar B.
Source data date: as of 17 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -2.74% | -3.66% |
| 3M | 5.1% | -3.71% |
| 1Y | -13.02% | -7.13% |
| 3Y | 5.64% | 5.82% |
| 5Y | Data not available | Data not available |
The recent pattern is uneven. Over 1 month, the fund fell less than the benchmark, which suggests relative resilience in a weak phase. Over 3 months, it moved ahead while the benchmark stayed negative, so the fund did capture some short-term recovery that the benchmark did not.
The 1-year figure is the main soft spot. The fund was down 13.02% versus a 7.13% decline for the benchmark, so it lagged the reference index over a full year even after recent improvement. That tells us the fund has not yet translated its technology tilt into consistent calendar-year strength.
Looking at the longer 3-year pattern, the fund returned 5.64% against 5.82% for the benchmark. The gap is small, but it shows that the fund has broadly kept pace rather than clearly outpacing the index. The available history therefore reads as a mixed blend of recovery and volatility, not smooth compounding.
The 5-year number is not available in a practical sense because the scheme is still relatively new. For investors, that means the recent rebound deserves attention, but it should not be mistaken for a long-established long-term record.
Source data date: as of 17 Sep 2026
Should you BUY or HOLD HDFC Technology?
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 Technology? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| HDFC Technology Fund Direct Growth Plan | -13.02% | 5.64% | Data not available |
| ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan | 69.8% | 36.32% | Data not available |
| HDFC Pharma and Healthcare Fund Direct Growth Plan | 25.31% | Data not available | Data not available |
| Kotak Healthcare Fund Direct Growth Plan | 25.27% | Data not available | Data not available |
| Motilal Oswal Active Momentum Fund Direct Growth Plan | 24.51% | Data not available | Data not available |
| PGIM India Healthcare Fund Direct Growth Plan | 22.75% | Data not available | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. The current fund trails the strongest peer 1-year returns by a wide margin, and it also sits below the better short-term peer readings in this set. Its 3-year outcome is much closer to the benchmark and is materially less stretched than the standout peer figure, which makes the longer window look steadier than the 1-year window.
That split matters. Short-term comparison shows a fund that has struggled, while the 3-year lens suggests it has at least moved broadly in line with the index. Because most peer funds here have no usable 3-year or 5-year figures, the comparison is strongest on 1-year data, and on that measure the fund is clearly behind the better recent peer performers.
Source data date: as of 17 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Bharti Airtel Ltd. | Telecom | 13.09% |
| Infosys Limited | IT | 11.74% |
| Tata Consultancy Services Ltd. | IT | 9.9% |
| HCL Technologies Ltd. | IT | 7.49% |
| Mphasis Limited. | IT | 5.24% |
| Tech Mahindra Ltd. | IT | 5% |
| Coforge Limited | IT | 4.78% |
| Info Edge (India) Limited | IT | 4.5% |
| Firstsource Solutions Ltd. | IT | 4.02% |
| Eternal Limited | Retailing | 3.85% |
The top 10 holdings account for approximately 69.61% of the portfolio.
To see all holdings, visit the HDFC Technology Fund Direct Growth Plan page
The largest holding, Bharti Airtel Ltd. at 13.09%, is meaningfully bigger than the next position and may have a noticeable influence on near-term performance. The drop from the first holding to the tenth, Eternal Limited at 3.85%, is fairly steep, which suggests the portfolio is not evenly spread across the disclosed names.
At the same time, the top 10 positions together account for 69.61% of the portfolio, so a relatively small set of holdings may drive a large share of outcomes. With 25 disclosed holdings in total, the fund appears to combine a longer tail with a heavy emphasis on its largest names, especially across IT and telecom exposure. That concentration may amplify both upside and downside when the leading holdings move sharply.
Source data date: as of 17 Sep 2026
Who should invest
This fund fits investors who are comfortable with High Risk and who can hold through uneven stretches of performance. The 1-year decline versus a positive 3-year result shows that returns can move sharply from one period to the next, so a short horizon would not suit this profile well.
An investor with a longer horizon and a tolerance for sector concentration may find the fund more appropriate, especially if they want technology-led exposure inside an equity allocation. The main trade-off is that the fund can participate in recoveries, but it may also lag the benchmark for extended periods and can be more volatile than a diversified core equity fund.
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 applies as 1% on or before 30 days, and there is no exit load after 30 days.
Source data date: as of 17 Sep 2026
Frequently asked questions
What is the current NAV of HDFC Technology Fund Direct Growth Plan?
The current NAV is ₹11.904 as of 17 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
Its 1-year return is -13.02%, its 3-year return is 5.64%, and its 5-year return is Data not available.
How does it compare with the benchmark?
Against Nifty 50, the fund has lagged over 1 year and has been broadly close over 3 years. The 1-month and 3-month figures were better than the benchmark, so the shorter windows look stronger than the full-year result.
How does it compare with the peer funds listed here?
Its 1-year return is well below the better recent peer numbers in this set, while its 3-year result is much closer to the benchmark than the standout peer figures. The short-term and longer-term comparisons do not tell the same story.
What is the minimum SIP amount?
The minimum SIP amount is ₹100.
Who manages the fund and what is its exit load?
The fund is managed by Balakumar B. Exit load is 1% on or before 30 days, and nil after 30 days.
Bottom line
HDFC Technology Fund Direct Growth Plan shows a split picture: the recent 1-year number is weak, but the 3-year result is closer to the benchmark and the shorter windows have improved. Compared with the listed peers, its recent return is far behind the stronger 1-year performers, while its longer-window read is more measured. The fund remains High Risk and its top holdings are fairly concentrated, so it is better suited to investors who can accept volatility and who want a technology-led equity allocation rather than a smoother core holding.
Published on 18 September 2026 at 9:30 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.