Table of Contents
HDFC Equity Fund and HDFC Top 100 Fund both belong to the large-cap category of Mutual Fund scheme. Both the schemes are managed by the same fund house that is, HDFC Mutual Fund. In case of large-cap Mutual Funds, the pooled money is invested in shares of companies having a Market capitalization of above INR 10,000 crores. The companies forming part of the large-cap category are considered to be the market leaders in their industry. They generate stable returns in long-term tenure. Even during economic downturns, the share prices of these schemes are considered to fluctuate less. Though both HDFC Equity Fund and HDFC Top 100 Fund belong to the same category and fund house, however, there are differences between both the schemes in terms of Current NAV, AUM, performance, and so on. So, let us understand the differences between both the schemes.
HDFC Top 100 Fund (earlier known as HDFC Top 200 Fund) is open-ended large-cap Mutual Fund was incepted on October 11, 1996. The scheme uses S&P BSE 200 Index to build its portfolio of shares. It also uses S&P BSE SENSEX as an additional benchmark. HDFC Top 100 Fund is also managed by Mr. Prashant Jain and Mr. Rakesh Vyas. The objective of this scheme is to attain Capital appreciation by Investing equity and equity-related instruments that are a part of S&P BSE 200 Index. As on March 31, 2018, the some of the holdings that formed part of HDFC Top 100 Fund’s portfolio consisted of Larsen & Toubro Limited, Tata Consultancy Services, Axis Bank Limited, Avenue Supermarts Limited, and Power Grid Corporation of India Limited.
HDFC Equity Fund is an open-ended large-cap Mutual Fund scheme which was launched in January 1995. The objective of this scheme is to attain capital appreciation over long-term and by investing in shares of large-cap companies. The investment discipline of HDFC Equity Fund is, focus on value, consistent focus on quality, and diversified yet focussed approach towards investing. As on March 31, 2018, some of the holdings that formed part of HDFC Equity Fund consisted of State Bank of India, ICICI Bank, Infosys Limited, Reliance Industries Limited, and Siemens Limited. HDFC Equity Fund is jointly managed by Mr. Prashant Jain and Mr. Rakesh Vyas. The scheme uses NIFTY 500 as its primary benchmark to construct its portfolio. Apart from NIFTY 500, the scheme also uses NIFTY 50 as its additional benchmark.
There are numerous differences between HDFC Equity Fund and HDFC Top 100 Fund though they belong to the same category and fund house. So, let us compare and understand the differences between both the schemes with respect to various parameters that are divided into four sections, namely, Basics Section, Performance Section, Yearly Performance Section, and Other Details Section.
The elements that form part of basics section include Current NAV, Fincash Ratings and Scheme Category. To begin with the scheme category, it can be said that both the schemes belong to the same category, that is, Equity Large Cap. The next comparable element is Fincash Ratings. Based on Fincash Ratings, it can be said that both HDFC Equity Fund and HDFC Top 100 Fund are 3-Star rated Mutual Funds. The comparison of Current NAV reveals that HDFC Equity Fund leads the race. As on April 12, 2018, the NAV of HDFC Top 100 Fund was approximately INR 442d and the NAV of HDFC Equity Fund was INR 615. The comparative summary of the basics section is shown in the table as follows.
Parameters Basics NAV Net Assets (Cr) Launch Date Rating Category Sub Cat. Category Rank Risk Expense Ratio Sharpe Ratio Information Ratio Alpha Ratio Benchmark Exit Load HDFC Equity Fund
Growth
Fund Details ₹940.586 ↑ 6.80 (0.73 %) ₹27,433 on 31 May 22 1 Jan 95 ☆☆☆ Equity Multi Cap 34 Moderately High 1.79 0.86 -0.2 6.33 Not Available 0-1 Years (1%),1 Years and above(NIL) HDFC Top 100 Fund
Growth
Fund Details ₹636.664 ↑ 4.56 (0.72 %) ₹20,675 on 31 May 22 11 Oct 96 ☆☆☆ Equity Large Cap 43 Moderately High 1.83 0.51 -0.64 2.07 Not Available 0-1 Years (1%),1 Years and above(NIL)
The Compounded Annual Growth Rate or CAGR Returns between the two schemes is analyzed in the performance section. These returns are compared for different time intervals such as 1 Month Return, 6 Month Return, 1 Year Return, and 3 Year Returns. The comparison of the performance section reveals that, in many instances, the performance of HDFC Equity Fund is better as compared to the performance of HDFC Top 100 Fund. The table given below shows the comparison summary of the performance section.
Parameters Performance 1 Month 3 Month 6 Month 1 Year 3 Year 5 Year Since launch HDFC Equity Fund
Growth
Fund Details -3.4% -5.8% -2.6% 6.7% 10.9% 10.3% 18% HDFC Top 100 Fund
Growth
Fund Details -3.1% -7.2% -5.4% 2.3% 7.7% 8.8% 18.5%
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The absolute returns for both the schemes generated in one year are compared in the yearly performance section. The comparison of yearly performance section shows that for certain years the performance of HDFC Top 100 Fund is better as compared to the performance of HDFC Equity Fund. However, for certain years, HDFC Equity Fund has performed better than HDFC Top 100 Fund. The summary of yearly performance section is tabulated as follows.
Parameters Yearly Performance 2021 2020 2019 2018 2017 HDFC Equity Fund
Growth
Fund Details 0% 0% 0% 0% 0% HDFC Top 100 Fund
Growth
Fund Details 0% 0% 0% 0% 0%
It is the last section in the comparison of both the schemes. The elements forming part of other details section include AUM, Minimum Lumpsum and SIP investment, and exit load. To begin with the AUM comparison, it can be said that there is a significant difference between the AUM of HDFC Top 100 Fund and HDFC Equity Fund. As on February 28, 2018, the AUM of HDFC Top 100 Fund was approximately INR 15,250 Crores while of HDFC Equity Fund was INR 21,621 Crores. The comparison of minimum SIP and lumpsum investment shows that the SIP investment amount and lumpsum investment amount both are same. The minimum SIP amount for both the schemes is INR 500 while the lumpsum amount is INR 5,000. The table given below shows the summary of other details section.
Parameters Other Details Min SIP Investment Min Investment Fund Manager HDFC Equity Fund
Growth
Fund Details ₹300 ₹5,000 Prashant Jain - 18.96 Yr. HDFC Top 100 Fund
Growth
Fund Details ₹300 ₹5,000 Prashant Jain - 18.96 Yr.
HDFC Equity Fund
Growth
Fund Details Growth of 10,000 investment over the years.
Date Value 31 May 17 ₹10,000 31 May 18 ₹10,680 31 May 19 ₹12,148 31 May 20 ₹8,714 31 May 21 ₹15,277 31 May 22 ₹17,400 HDFC Top 100 Fund
Growth
Fund Details Growth of 10,000 investment over the years.
Date Value 31 May 17 ₹10,000 31 May 18 ₹10,622 31 May 19 ₹12,273 31 May 20 ₹8,990 31 May 21 ₹14,728 31 May 22 ₹16,077
HDFC Equity Fund
Growth
Fund Details Asset Allocation
Asset Class Value Cash 4.18% Equity 95.82% Equity Sector Allocation
Sector Value Financial Services 35.26% Industrials 14.2% Energy 14.02% Utility 8% Health Care 5.63% Technology 5.36% Consumer Cyclical 4.56% Consumer Defensive 4.15% Communication Services 3.93% Basic Materials 0.72% Top Securities Holdings / Portfolio
Name Holding Value Quantity State Bank of India (Financial Services)
Equity, Since 31 Jan 03 | SBIN8% ₹2,252 Cr 45,376,934 ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 09 | ICICIBANK7% ₹1,933 Cr 26,004,456 Reliance Industries Ltd (Energy)
Equity, Since 30 Apr 13 | RELIANCE6% ₹1,676 Cr 6,006,957 HDFC Bank Ltd (Financial Services)
Equity, Since 31 Jul 13 | HDFCBANK6% ₹1,566 Cr 11,311,818
↑ 1,545,385 NTPC Ltd (Utilities)
Equity, Since 30 Nov 16 | NTPC5% ₹1,408 Cr 90,111,344
↓ -19,605,716 Coal India Ltd (Energy)
Equity, Since 31 Aug 18 | COALINDIA5% ₹1,340 Cr 73,259,058
↓ -5,417,201 Larsen & Toubro Ltd (Industrials)
Equity, Since 31 May 12 | LT5% ₹1,335 Cr 7,879,998
↓ -31,667 Infosys Ltd (Technology)
Equity, Since 31 Oct 08 | INFY4% ₹1,221 Cr 7,789,071 ITC Ltd (Consumer Defensive)
Equity, Since 28 Feb 18 | ITC4% ₹1,151 Cr 44,364,614 Power Finance Corp Ltd (Financial Services)
Equity, Since 30 Jun 18 | 5328103% ₹741 Cr 62,937,409 HDFC Top 100 Fund
Growth
Fund Details Asset Allocation
Asset Class Value Cash 2.93% Equity 97.07% Equity Sector Allocation
Sector Value Financial Services 34.88% Energy 17.9% Technology 11.1% Utility 6.88% Health Care 6.53% Industrials 6.13% Consumer Defensive 5.16% Consumer Cyclical 3.56% Communication Services 2.89% Basic Materials 2.04% Top Securities Holdings / Portfolio
Name Holding Value Quantity Reliance Industries Ltd (Energy)
Equity, Since 31 Mar 06 | RELIANCE10% ₹2,037 Cr 7,301,781
↓ -300,000 ICICI Bank Ltd (Financial Services)
Equity, Since 31 Dec 05 | ICICIBANK8% ₹1,703 Cr 22,905,494 HDFC Bank Ltd (Financial Services)
Equity, Since 31 Jan 10 | HDFCBANK7% ₹1,514 Cr 10,937,961 Infosys Ltd (Technology)
Equity, Since 31 Aug 04 | INFY6% ₹1,237 Cr 7,888,772 State Bank of India (Financial Services)
Equity, Since 31 Jan 03 | SBIN5% ₹1,016 Cr 20,466,490
↓ -295,000 Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 30 Jun 08 | HDFC5% ₹966 Cr 4,334,142 NTPC Ltd (Utilities)
Equity, Since 30 Jun 15 | NTPC4% ₹918 Cr 58,793,743
↓ -4,000,000 Coal India Ltd (Energy)
Equity, Since 30 Sep 17 | COALINDIA4% ₹862 Cr 47,157,809 ITC Ltd (Consumer Defensive)
Equity, Since 31 Jan 03 | ITC4% ₹854 Cr 32,918,755 Larsen & Toubro Ltd (Industrials)
Equity, Since 31 Aug 06 | LT4% ₹766 Cr 4,518,556
There, in a nutshell, it can be said that both the schemes vary with respect to a lot of parameters. Therefore, individuals should be careful before investing in any of the schemes. They should understand the functioning of the scheme completely and then check whether it is in-line with their investment objectives or not. This will help them to attain their objectives on time and in a hassle-free manner.
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