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

HSBC Aggressive Hybrid Fund Direct Growth Plan is priced at ₹68.9677 as of 09 Sep 2026, with assets of ₹5,869 Cr. Its 1-year, 3-year and 5-year returns are 8.11%, 13.28% and 11.24% respectively, and it sits in the High Risk bucket.

Our view is that this is a fund for investors who can handle equity-led swings and are willing to stay invested long enough for the hybrid structure to matter. The portfolio leans toward financials and capital goods among its largest holdings, so the outcome is likely to depend more on stock selection than on short-lived market moves.

Quick facts

Particular	Details
NAV	₹68.9677 as of 09 Sep 2026
AUM	₹5,869 Cr
Expense Ratio	0.83%
Launch Date	01 Jan 2013
Min SIP	₹500
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Hybrid
Exit Load	Nil for 10% of units and 1% for remaining units on or before 1Y, Nil after 1Y
Fund Managers	Gautam Bhupal, Shriram Ramanathan, Mohd Asif Rizwi, Mayank Chaturvedi

The fund is managed by Gautam Bhupal, Shriram Ramanathan, Mohd Asif Rizwi and Mayank Chaturvedi.

Source data date: as of 09 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.68%	-4.69%
3M	7.7%	0.93%
1Y	8.11%	-7.16%
3Y	13.28%	6%
5Y	11.24%	5.87%

The recent pattern is constructive rather than smooth. Over the last month and three months, the fund stayed ahead of the benchmark and kept positive momentum, even though short-term movement was uneven. That matters because aggressive hybrid funds can move around a lot in choppy markets, and this one has still held its ground.

The 1-year return of 8.11% is notably better than the benchmark’s -7.16%, which tells us the fund handled the past year far better than the index. That is also visible in the longer horizon: the 3-year return of 13.28% and 5-year return of 11.24% both sit above the benchmark’s 6% and 5.87%. The gap is especially useful because it shows the fund was not just helped by a brief recovery phase.

At the same time, the path has not been linear. The 1-year and 3-year return trend suggests a fund that has recovered from weaker patches and then rebuilt gains, rather than delivering a straight upward climb. For investors, that combination usually means the fund may work better as a patient holding than as a short-term allocation.

Across the 3-year and 5-year periods, the fund has compounded at a healthier pace than the benchmark, so the longer record is stronger than the recent one-year number alone might suggest. Our view is that the current picture supports a fund that has beaten its benchmark over time, but with enough variation along the way to demand discipline.

Source data date: as of 09 Sep 2026

Should you BUY or HOLD HSBC 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
HSBC Aggressive Hybrid Fund Direct Growth Plan	8.11%	13.28%	11.24%
Bank of India Aggressive Hybrid Fund Direct Growth Plan	16.72%	17.24%	15.03%
HSBC Multi Asset Active FOF Direct Growth Plan	16.2%	15.61%	12.48%
Quant Aggressive Hybrid Fund Direct Growth Plan	11.83%	13%	13.19%
Navi Aggressive Hybrid Fund Direct Growth Plan	10.06%	12%	11.52%
HSBC Aggressive Hybrid Active FOF Direct Growth Plan	9.69%	12.74%	11.11%

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. The current fund’s 1-year return is below several peers in this set, while the 3-year number stays in the middle of the group rather than at the extremes. On 5-year return, it also trails some of the peer funds with longer records, including Bank of India Aggressive Hybrid Fund Direct Growth Plan and Quant Aggressive Hybrid Fund Direct Growth Plan.

The short-term comparison tells one story, and the longer-term view tells another. In the latest year, the fund has not kept pace with the stronger peer outcomes, but its 3-year and 5-year figures still show a workable track record versus the benchmark. That split matters for investors because it suggests the fund has been respectable over time, even if some peers have recently produced stronger absolute returns.

Source data date: as of 09 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
ICICI Bank Limited	Bank	4.66%
Ge Vernova T&D India Limited	Capital Goods	3.56%
HDFC Bank Limited	Bank	3.04%
Karur Vysya Bank Limited	Bank	2.81%
CG Power and Industrial Solutions Ltd	Capital Goods	2.76%
Mahindra & Mahindra Limited	Automobile & Ancillaries	2.72%
Eternal Limited	Retailing	2.66%
Radico Khaitan Limited	Alcohol	2.53%
Bharat Electronics Limited	Capital Goods	1.98%
Kei Industries Limited	Electricals	1.84%

The largest disclosed holding is ICICI Bank Limited at 4.66%, which is meaningful but not dominant on its own. The tenth holding is Kei Industries Limited at 1.84%, so the drop from the largest position to the tenth is fairly contained rather than abrupt.

The top 10 holdings account for approximately 28.56% of the portfolio, which suggests the visible part of the portfolio is not overly concentrated in just one or two names. At the same time, the fund discloses 69 holdings in total, so the remaining exposure is spread across a much longer tail. That structure may reduce single-stock dependence while still leaving the larger names with greater influence on returns.

Among the disclosed positions, banks and capital goods appear frequently in the top slice, so sector behaviour in those areas could matter for near-term outcomes. Because the top holdings are only a little over a quarter of the portfolio, the rest of the book may also play a material role in overall results.

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

Source data date: as of 09 Sep 2026

Who should invest

This fund suits investors who can accept High Risk and want an equity-heavy hybrid holding with a multi-year horizon. The 1-year return has been positive but softer than some peer outcomes, while the 3-year and 5-year records show a steadier long-run compounding profile versus the benchmark.

The main trade-off is that returns may not stay smooth in the short run, even when the longer trend is favourable. Investors who prefer a calmer journey may find the swings uncomfortable, but those who can stay invested through uneven phases may appreciate the combination of stock selection and hybrid allocation.

The portfolio also matters here: the largest positions are meaningful but not overwhelming, and the rest of the holdings are spread across a broad base. That can make the fund more balanced than a narrowly concentrated equity fund, though it still carries enough market exposure to need patience.

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 for 10% of units and 1% for remaining units on or before 1Y, nil after 1Y.

Source data date: as of 09 Sep 2026

Frequently asked questions

What is the current NAV of HSBC Aggressive Hybrid Fund Direct Growth Plan?
The current NAV is ₹68.9677 as of 09 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
Its returns are 8.11% over 1 year, 13.28% over 3 years and 11.24% over 5 years.

How does it compare with the benchmark?
The fund has outpaced the Nifty 50 over 1 year, 3 years and 5 years. The benchmark returns are -7.16%, 6% and 5.87% for those periods.

How does it compare with peer funds?
Its 1-year return is below several peers in the comparison set, while its 3-year and 5-year numbers remain solid but not the strongest in that group. Some peers have delivered higher returns across all three periods.

Is there a minimum SIP amount?
Yes. The minimum SIP amount is ₹500.

Who manages the fund and what is the exit load?
The fund is managed by Gautam Bhupal, Shriram Ramanathan, Mohd Asif Rizwi and Mayank Chaturvedi. Exit load is nil for 10% of units and 1% for remaining units on or before 1Y, and nil after 1Y.

Bottom line

HSBC Aggressive Hybrid Fund Direct Growth Plan has a stronger long-term shape than its latest 1-year figure alone suggests. It has stayed ahead of the benchmark across 1-year, 3-year and 5-year periods, though several peers have delivered higher recent returns. The fund carries High Risk and is built around a portfolio where the largest holdings matter, but the rest of the book is spread across many positions. That makes it more suitable for patient investors who can accept uneven short-term movement in exchange for longer-run compounding potential.

Published on 10 September 2026 at 12:08 PM 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.