HDFC Aggressive Hybrid Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

HDFC Aggressive Hybrid Fund Direct Growth Plan has a NAV of ₹124.689 as of 03 Sep 2026 and a scheme AUM of ₹22,520 Cr. Its 1-year, 3-year and 5-year returns are -1.82%, 7.33% and 8.74%, and the fund sits in the High Risk category.

Our view is that this is a fund for investors who can accept higher short-term volatility in exchange for a hybrid portfolio that still participates meaningfully in equities. The longer-term return profile is steadier than the latest 1-year result, but recent numbers also show that it can lag a strong equity market phase.

Quick facts

Particular	Details
NAV	₹124.689 as of 03 Sep 2026
AUM	₹22,520 Cr
Expense Ratio	1.01%
Launch Date	01 Jan 2013
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Hybrid
Exit Load	Nil upto 15% of Units, For excess Units 1% on or before 1Y and Nil after 1Y
Fund Managers	Anupam Joshi, Srinivasan Ramamurthy

The fund is managed by Anupam Joshi and Srinivasan Ramamurthy.

Source data date: as of 03 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-1.33%	-3.01%
3M	4.23%	1.95%
1Y	-1.82%	-4.4%
3Y	7.33%	5.74%
5Y	8.74%	6.27%

The recent profile is mixed. Over 1 month, the fund fell less than the benchmark, which points to some resilience in a weak patch. Over 3 months, it did better than the benchmark, so the latest stretch was better than the index even though both moved through a choppy phase.

The 1-year return is still negative, but it is not as weak as the benchmark. That matters because it tells us the fund did cushion losses relative to Nifty 50, even if the absolute outcome was not positive. For investors, this is a reminder that the fund behaves like a hybrid vehicle first and an equity substitute only in part.

Looking further out, the 3-year and 5-year returns are positive and both ahead of the benchmark. That longer arc is more stable than the one-year result, which suggests the fund has been able to compound through a longer holding period even when shorter windows were uneven.

The time pattern also hints at a fund that can absorb shocks and then rebuild, rather than one that moves in a straight line. For investors, that usually means the fund may fit better as a patient allocation than as a tactical parking place for near-term goals.

Source data date: as of 03 Sep 2026

Should you BUY or HOLD HDFC Aggressive Hybrid?

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.

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Peer comparison

Fund	1Y return	3Y return	5Y return
HDFC Aggressive Hybrid Fund Direct Growth Plan	-1.82%	7.33%	8.74%
HSBC Multi Asset Active FOF Direct Growth Plan	16.39%	15.84%	12.47%
Bank of India Aggressive Hybrid Fund Direct Growth Plan	15.68%	18.01%	15.26%
Quant Aggressive Hybrid Fund Direct Growth Plan	12.37%	13.89%	13.28%
Navi Aggressive Hybrid Fund Direct Growth Plan	11.3%	12.83%	11.82%
HSBC Aggressive Hybrid Active FOF Direct Growth Plan	9.73%	13.11%	11.16%

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.

On the latest 1-year figure, the fund trails the peer set materially because the others shown are all in positive territory. That makes the short-term picture less compelling than several alternatives in the same broad space.

The longer view is more balanced. The fund’s 3-year and 5-year returns are positive, but several peers have delivered higher numbers on both horizons, so the fund’s longer-run compounding looks respectable rather than especially strong. The short-term and long-term stories therefore do not fully match: recent weakness sits beside a steadier multi-year profile.

Source data date: as of 03 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
ICICI Bank Ltd.	Bank	7.14%
HDFC Bank Ltd.£	Bank	6.27%
Reliance Industries Ltd.	Crude Oil	4.3%
Kotak Mahindra Bank Limited	Bank	3.03%
Axis Bank Ltd.	Bank	3%
State Bank of India	Bank	2.87%
7.34% GOI Mat 220464	Government Securities	2.54%
Infosys Limited	IT	2.16%
Larsen and Toubro Ltd.	Infrastructure	2.11%
Bharti Airtel Ltd.	Telecom	2.1%

The top 10 holdings account for approximately 35.52% of the portfolio.

To see all holdings, visit the HDFC Aggressive Hybrid Fund Direct Growth Plan page

The largest holding, ICICI Bank Ltd., is 7.14%, which is meaningful but not overpowering in a 56-holding portfolio. The gap from the first holding to the tenth is not extreme, but it still shows a clear drop from the bank-heavy core into smaller positions.

That pattern suggests the fund’s visible equity book is anchored in a few large financial positions, with additional exposure spread across banking, telecom, IT, infrastructure and government securities. Because the top 10 holdings cover about 35.52% of the disclosed portfolio, the remaining positions are likely to matter more for breadth than for headline influence.

With 56 holdings disclosed, the portfolio is not limited to a narrow list of names, yet the largest positions still carry enough weight to influence outcomes. In our view, this is a structure that may give the fund a mix of concentration and diversification rather than a fully diffuse spread.

Source data date: as of 03 Sep 2026

Who should invest

This fund suits investors who can tolerate High Risk and are comfortable with equity-linked swings inside a hybrid structure. The 1-year result shows that short holding periods can be uneven, while the 3-year and 5-year figures indicate that patience has mattered more than timing.

It is better suited to a medium-to-long horizon than to money needed soon. The main trade-off is that the fund may lag a strong equity rally in some periods, but that same structure can help the portfolio stay more controlled than a pure equity fund when markets are less forgiving.

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: Nil upto 15% of Units, For excess Units 1% on or before 1Y and Nil after 1Y.

Source data date: as of 03 Sep 2026

Frequently asked questions

What is the current NAV of HDFC Aggressive Hybrid Fund Direct Growth Plan?

The NAV is ₹124.689 as of 03 Sep 2026.

How have the 1-year, 3-year and 5-year returns looked?

The fund’s 1-year return is -1.82%, the 3-year return is 7.33% and the 5-year return is 8.74%.

How does the fund compare with the benchmark?

It is ahead of Nifty 50 over 3 years and 5 years, and it has fallen less than the benchmark over 1 year.

How does it compare with the peer funds listed here?

The fund’s 1-year return is weaker than the peer funds shown, while its 3-year and 5-year numbers are positive but lower than several peers in the table.

What is the minimum SIP amount?

The minimum SIP amount is ₹100.

Who manages the fund and what is the exit load?

The fund is managed by Anupam Joshi and Srinivasan Ramamurthy. Exit load is nil on units sold after the holding period, and for excess units redeemed on or before 1 year, it is 1%.

Bottom line

HDFC Aggressive Hybrid Fund Direct Growth Plan has a weaker latest 1-year result than its multi-year record, but the 3-year and 5-year figures remain positive and ahead of the benchmark. Against the peer set shown here, its recent return is clearly softer, while the longer-run picture is more measured than standout. The portfolio is led by large bank positions, which can shape outcomes, yet the broader holding list gives it some spread. In our view, the fund fits investors who can stay invested through uneven periods and who want a hybrid allocation with equity participation rather than a smooth ride.

Published on 4 September 2026 at 10:20 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.