# Compare Mutual Funds Pick any two Indian mutual funds, in any plan, and see what ₹10 lakh grew to in each, with returns, costs, risk, holdings and overlap side by side. Updated 2 November 2026 by the Foliyo Research Desk, led by Sachin Kabra, Principal Officer (SEBI RIA INA000023454) · https://foliyo.ai/mutual-funds/compare/ Talk to Foliyo: book a free 30-minute call with the SEBI-registered team at https://foliyo.ai/book/ (pick a time, then name, mobile, email and two quick questions; no sign-up). ## Parag Parikh Flexi Cap Fund vs HDFC Flexi Cap Fund 1 year: ₹10 lakh invested on 30 October 2025 was worth **₹9.41 lakh** in Parag Parikh Flexi Cap Fund and **₹9.60 lakh** in HDFC Flexi Cap Fund on 30 October 2026. 3 years: ₹10 lakh invested on 1 November 2023 was worth **₹14.23 lakh** in Parag Parikh Flexi Cap Fund and **₹15.59 lakh** in HDFC Flexi Cap Fund on 30 October 2026. 5 years: ₹10 lakh invested on 8 November 2021 was worth **₹16.28 lakh** in Parag Parikh Flexi Cap Fund and **₹19.99 lakh** in HDFC Flexi Cap Fund on 30 October 2026. 10 years: ₹10 lakh invested on 4 November 2016 was worth **₹47.85 lakh** in Parag Parikh Flexi Cap Fund and **₹43.36 lakh** in HDFC Flexi Cap Fund on 30 October 2026. Since the start: ₹10 lakh invested on 24 May 2013 was worth **₹89.23 lakh** in Parag Parikh Flexi Cap Fund and **₹76.83 lakh** in HDFC Flexi Cap Fund on 30 October 2026. Parag Parikh Flexi Cap Fund and HDFC Flexi Cap Fund are both flexi cap funds. ₹10 lakh put in both on 24 May 2013 grew to ₹89.23 lakh and ₹76.83 lakh respectively by 30 October 2026. Parag Parikh Flexi Cap Fund charges 0.69% a year and HDFC Flexi Cap Fund 0.77%. [Read the full comparison, with Foliyo’s research on both](https://foliyo.ai/mutual-funds/compare/parag-parikh-flexi-cap-vs-hdfc-flexi-cap/) ## Side by side | Fund | [Parag Parikh Flexi Cap Fund](https://foliyo.ai/mutual-funds/?isin=INF879O01027) | [HDFC Flexi Cap Fund](https://foliyo.ai/mutual-funds/?isin=INF179K01UT0) | | --- | --- | --- | | Plan | Direct · Growth | Direct · Growth | | Category | Flexi Cap | Flexi Cap | | Foliyo label | Leader #3 of 38 | Leader #1 of 38 | | NAV | ₹89.23 | ₹2,187.57 | | ₹10 lakh after 1 year | ₹9.41 lakh | ₹9.60 lakh | | ₹10 lakh after 3 years | ₹14.23 lakh | ₹15.59 lakh | | ₹10 lakh after 5 years | ₹16.28 lakh | ₹19.99 lakh | | ₹10 lakh after 10 years | ₹47.85 lakh | ₹43.36 lakh | | 1-year return | −5.9% | −4.0% | | 3-year return (a year) | 12.5% | 15.8% | | 5-year return (a year) | 10.9% | 15.5% | | 10-year return (a year) | 16.7% | 15.3% | | Since launch (a year) | 17.7% | 15.5% | | Fund size (AUM) | ₹1,45,070 Cr | ₹1,08,547 Cr | | Expense ratio (TER) | 0.69% | 0.77% | | Number of holdings | 126 | 86 | | Equity / debt / cash | 90% / 0% / 10% | 97% / 0% / 2% | | Large / mid / small cap | 65% / 8% / 6% | 70% / 15% / 12% | | Price to earnings | 17.6 | 23.8 | | Price to book | 2.6 | 3.3 | | Sharpe ratio (3Y) | 0.59 | 0.62 | | Sortino ratio (3Y) | 0.94 | 0.91 | | Standard deviation (3Y) | 10.1% | 13.5% | | Maximum drawdown (3Y) | −10.0% | −12.4% | | Alpha (3Y) | 3.46% | 4.96% | | Beta (3Y) | 0.59 | 0.83 | | Downside capture (3Y) | 44 | 74 | | Lead fund manager | Rajeev Thakkar (since May 2013) | Amit B. Ganatra (since February 2026) | | Launch date | 24 May 2013 | 1 January 2013 | | Benchmark | Nifty 500 TR INR | Nifty 500 TR INR | | Riskometer | Very High Risk | Very High Risk | NAV and returns to 30 October 2026; risk ratios to 30 September 2026, 3 years; portfolios as of 30 September 2026; labels from Foliyo’s review of 23 October 2026. A “—” means the figure isn’t available for that fund. ## Where each fund invests ### Parag Parikh Flexi Cap Fund: sectors - Financial Services 26.7% - Technology 11.9% - Communication Services 10.2% - Consumer Cyclical 8.9% - Real Estate 8.7% - Utilities 7.1% - Other 26.5% ### HDFC Flexi Cap Fund: sectors - Financial Services 34.9% - Consumer Cyclical 17.4% - Healthcare 13.7% - Technology 5.3% - Utilities 2.7% - Real Estate 2.7% - Other 23.3% ### Parag Parikh Flexi Cap Fund: market cap - Large cap 65.2% - Mid cap 8.3% - Small cap 5.8% - Other 20.7% ### HDFC Flexi Cap Fund: market cap - Large cap 69.9% - Mid cap 15.1% - Small cap 11.5% - Other 3.4% ## Portfolio overlap Parag Parikh Flexi Cap Fund and HDFC Flexi Cap Fund hold 23 of the same stocks and bonds; counting each common holding at the smaller of its two weights, **30% of the two portfolios overlap**. That is moderate: the two share a core but differ beyond it. ### Largest common holdings - HDFC Bank Ltd: Parag Parikh Flexi Cap Fund 7.8%, HDFC Flexi Cap Fund 6.0% - ICICI Bank Ltd: Parag Parikh Flexi Cap Fund 5.2%, HDFC Flexi Cap Fund 8.8% - Kotak Mahindra Bank Ltd: Parag Parikh Flexi Cap Fund 4.4%, HDFC Flexi Cap Fund 3.4% - Axis Bank Ltd: Parag Parikh Flexi Cap Fund 2.8%, HDFC Flexi Cap Fund 6.1% - Bharti Airtel Ltd: Parag Parikh Flexi Cap Fund 2.9%, HDFC Flexi Cap Fund 2.6% - HCL Technologies Ltd: Parag Parikh Flexi Cap Fund 4.0%, HDFC Flexi Cap Fund 2.4% - Maruti Suzuki India Ltd: Parag Parikh Flexi Cap Fund 2.4%, HDFC Flexi Cap Fund 2.6% - Power Grid Corp Of India Ltd: Parag Parikh Flexi Cap Fund 5.6%, HDFC Flexi Cap Fund 2.1% ## Foliyo’s research ### Parag Parikh Flexi Cap Fund Rank 3 of 38 flexi cap funds, managed by Rajeev Thakkar (lead since May 2013) (Leader) Top rated: over 3 years it returned 12.3% a year against 11.2% for similar funds, at a lower yearly fee, and it has held up well when markets fell. Over 3 years the fund returned 12.3% a year, against 11.2% for similar funds, and over 5 years 10.5% a year, against 9.0%. Its yearly fee is 0.69%, against 0.89% for similar funds. It fell less than most when markets dropped and has been steady, with its manager in place since May 2013. Keep in mind that it has gained less in strongly rising markets, and its 1-year return of -6.7% is level with similar funds at -6.6%. About 9.6% is held in cash, and the ten largest holdings make up 51.2% of the fund. #### Pros - It was ahead of the peer median in 96.8% of rolling 3-year periods, with a 3-year return of 12.3% against 11.2% and a 5-year return of 10.5% against 9.0%. - Downside capture is 44, maximum drawdown -10.0%, volatility 10.1% and Sharpe 0.59 against a peer median of 0.40. - The expense ratio is 0.69% against a peer median of 0.89%, and Rajeev Thakkar has led the fund since May 2013. #### Cons - Upside capture is 73, so it lags in strong markets, and the 1-year return of -6.7% is level with the peer median of -6.6%. - Cash is 9.6% and the top 10 holdings are 51.2% of the portfolio. ### HDFC Flexi Cap Fund Rank 1 of 38 flexi cap funds, managed by Amit B. Ganatra (lead since Feb 2026) (Leader) Top rated: over 3 years it returned 14.4% a year against 11.2% for similar funds, at a lower yearly fee, though a new lead manager has only been in charge since February 2026. Over 3 years the fund returned 14.4% a year, against 11.2% for similar funds, and over 5 years 14.3% a year, against 9.0%. Its yearly fee is 0.77%, against 0.89% for similar funds. It has done better than similar funds steadily, and in each of the last 5 calendar years it was in the better half of its category. It also fell less than the market in bad months. Keep in mind that the lead manager changed in February 2026, so most of this record was built under someone else. Over the last year it lost 6.8%, about level with similar funds at 6.6%. #### Pros - The 3-year return is 14.4% against a peer median of 11.2%, and the 5-year return is 14.3% against 9.0%. - It was ahead of the peer median in 100.0% of rolling 3-year periods and in the top half of its category in 5 of 5 calendar years. - It fell less than its benchmark: downside capture 74, upside capture 101, maximum drawdown -12.4% and beta 0.83, with an expense ratio of 0.77% against a peer median of 0.89%. #### Cons - Amit B. Ganatra has been lead manager only since Feb 2026 (0.7 years), so most of this record was built before him. - The 1-year return of -6.8% is level with the peer median of -6.6%, so the recent edge is not visible. ## Popular comparisons Each with Foliyo’s research on both funds. ### [Parag Parikh Flexi Cap Fund vs HDFC Flexi Cap Fund](https://foliyo.ai/mutual-funds/compare/parag-parikh-flexi-cap-vs-hdfc-flexi-cap/) ### [Parag Parikh Flexi Cap Fund vs Kotak Flexi Cap Fund](https://foliyo.ai/mutual-funds/compare/parag-parikh-flexi-cap-vs-kotak-flexi-cap/) ### [ICICI Prudential Large Cap Fund vs SBI Large Cap Fund](https://foliyo.ai/mutual-funds/compare/icici-prudential-large-cap-vs-sbi-large-cap/) ### [ICICI Prudential Large Cap Fund vs Nippon India Large Cap Fund](https://foliyo.ai/mutual-funds/compare/icici-prudential-large-cap-vs-nippon-india-large-cap/) ### [Nippon India Small Cap Fund vs SBI Small Cap Fund](https://foliyo.ai/mutual-funds/compare/nippon-india-small-cap-vs-sbi-small-cap/) ### [Nippon India Small Cap Fund vs HDFC Small Cap Fund](https://foliyo.ai/mutual-funds/compare/nippon-india-small-cap-vs-hdfc-small-cap/) ## How to compare two mutual funds 1. **Compare like with like.** Funds in the same category (flexi cap with flexi cap) follow the same rules on what they can buy; comparing a small cap fund with a large cap fund mostly compares the two markets. 2. **Use the same dates.** Returns over different periods can’t be compared. The growth of ₹10 lakh here starts both funds on the same day, over 1, 3, 5 and 10 years. 3. **Look at the falls, not just the returns.** Standard deviation, maximum drawdown and downside capture show how rough the ride was; Sharpe and Sortino ratios show the return earned for that risk. 4. **Check the cost.** The expense ratio (TER) comes out of your returns every year. A Direct plan has no distributor commission, so it costs less than the same fund’s Regular plan. 5. **See what each owns.** Sectors, the split between large, mid and small companies, and the overlap between the two portfolios show whether a second fund adds anything. 6. **Check who runs it.** A new lead manager can change how a fund is run, so a long record under someone else counts for less. To see how a fund ranks against every fund in its category, see Foliyo’s [mutual fund research](https://foliyo.ai/mutual-funds/research/), or the best funds in each category: [flexi cap](https://foliyo.ai/mutual-funds/best-flexi-cap-funds/), [large cap](https://foliyo.ai/mutual-funds/best-large-cap-funds/), [mid cap](https://foliyo.ai/mutual-funds/best-mid-cap-funds/) and [small cap](https://foliyo.ai/mutual-funds/best-small-cap-funds/). ## Frequently asked questions ### How do I compare two mutual funds? Type the first fund’s name in the first box and pick it from the list, then do the same for the second. The page shows what ₹10 lakh grew to in each over 1, 3, 5 and 10 years (as far back as both go), their returns, expense ratios, size, risk ratios, portfolios and how much the two portfolios overlap. The link updates as you pick, so you can bookmark or share a comparison. ### Can I compare Direct and Regular plans, or Growth and IDCW options? Yes. Search shows each fund’s Direct Growth plan first; pick another plan from the list under the name, or type “regular” or “idcw” in the search. Comparing the Direct and Regular plans of the same fund shows what the distributor’s commission costs: the same portfolio, with a higher expense ratio on the Regular plan. To work out what switching would save you, use the [Regular to Direct calculator](https://foliyo.ai/tools/regular-to-direct-calculator/). ### What does “growth of ₹10 lakh” show? The value of ₹10 lakh put into each fund on the same day, read from each plan’s daily NAV (after its expenses), with no further investment or withdrawal. Starting both on the same day makes the comparison fair; a fund launched later sets the start of the longest period. ### What is portfolio overlap, and why does it matter? Overlap is the share of two portfolios held in the same stocks and bonds, counting each common holding at the smaller of its two weights. Above about 50%, owning both adds cost and paperwork more than diversification; below 30%, the two funds do quite different jobs. ### Which matters more: higher returns or lower risk? Both, over the same period. The Sharpe and Sortino ratios show return per unit of risk, the maximum drawdown shows the worst fall, and downside capture shows how much of the market’s falls a fund took (below 100 is better). A fund that earned slightly less with much smaller falls is often easier to hold through a bad year. ### How current is the data? NAVs and returns are updated every business day from funds data; portfolios, risk ratios and fund size monthly, as the fund houses publish them. Foliyo’s labels come from its monthly review (the latest of 23 October 2026), which covers funds with at least ₹500 Cr under management. ### Is this a recommendation to invest? No. The comparison describes how two funds have done, not how they will do. Which fund suits you depends on your goals, horizon and what you already own; a fee-only adviser can look at the whole portfolio: [talk to a Foliyo adviser](https://foliyo.ai/onboarding/details/). **About this research.** Labels, ranks and notes come from Foliyo’s Research Desk, led by Sachin Kabra, Principal Officer, which reviews every Indian mutual fund with at least ₹500 Cr under management against its category peers each month, using funds data. They describe how a fund has done, not how it will do, and they are not a recommendation to buy, hold or sell any fund. Mutual fund investments are subject to market risks; read all scheme-related documents carefully. Past performance is not indicative of future returns. Foliyo is the brand of Weekend Bytes Tech Private Limited, a SEBI-registered Investment Adviser (INA000023454). Registration granted by SEBI and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors. Foliyo earns no commission from any fund house. ## Related - [Foliyo mutual fund research](https://foliyo.ai/mutual-funds/research/) - [Regular to Direct calculator](https://foliyo.ai/tools/regular-to-direct-calculator/) - [Direct vs Regular calculator](https://foliyo.ai/tools/direct-vs-regular-calculator/) ### Why hire a Foliyo Advisor? - Unbiased - No commissions, ever - SEBI-registered RIA - Best-in-class research