January 19, 2026
RA Jainee
HDFC Defence Fund
| Fund at a Glance | |
| NAV Growth (Rs.) | 24.13 |
| NAV Bonus (Rs.) | — |
| NAV IDCW (Rs.) | 24.13 |
| Min. Investment (Rs.) | 100 |
| Min. SIP Investment (Rs.) | 100 |
| Min. No of Cheques | 6 |
| Benchmark | Nifty India Defence TRI |
| AUM Rs. | 7,391 Cr |
| (As on 31-Dec-2025) | |
| Expense | 0.80% |
| 1 Year Return (%) | 18.81 |
| 3 Year Return (%) | — |
| 5 Year Return (%) | — |
| 10 Year Return (%) | — |
| Return Since Launch | 39.84% |
⚖️ Sahifund Review – HDFC Defence Fund ✔
PLUS: Stability, track record, cost efficiency
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MINUS: Large AUM, large-cap bias, momentum lag
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Sahifund View (Decisive Line):
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| NFO Guidance |
What lies ahead? Below we decode returns consistency, portfolio concentration, peer positioning and risk profile in detail.
Suitable For Which Investors?
Such thematic funds are avoidable for most investors because:
• They have a narrow investment focus
• Instead, diversified equity funds which invest across sectors/themes are better
If you still choose to invest:
1. Invest only through SIP
2. Have a 7+ year investment horizon
3. Be prepared to withstand interim sharp declines in investment value
Fund’s Investment Strategy:
The scheme seeks to provide long-term capital appreciation by investing predominantly in equity and equity related securities of Defence & allied sector companies.
Fund Manager:
1) Priya Ranjan
Education: Mr. Ranjan is B.E(Computer Science) and PGDBM (Finance).
Experience: He has over 14 years of experience in equity research.
2) Rahul Baijal
Education: Mr. Baijal has done PGDM(MBA) from IIM Calcutta and is an engineering graduate of Delhi college of Engineering
Experience: Prior to joining HDFC Mutual Fund, he has worked with Sundaram Mutual Fund, Bharti AXA Life Insurance, TVF Capital, HSBC Securities, Credit Suisse Securities & Standard Chartered Bank.
Investment Details
| Min. Investment (Rs) | 100 |
| Min. Addl Investment (Rs) | 100 |
| Min. SIP Investment (Rs) | 100 |
| Min. Withdrawal (Rs) | — |
| Min. No of Cheques | 6 |
| Min. Balance (Rs) | — |
| Lock-in Period | NA |
| Exit Load | 1% for redemption within 1 year |
Basic Details of HDFC Defence Fund
| Fund House | HDFC Mutual Fund |
| Launch Date | 02-Jun-23 |
| Return Since Launch | 39.84% |
| Benchmark | Nifty India Defence TRI |
| Riskometer | Very High |
| Type | Open-ended |
| Assets (Rs) | 7,391 Cr |
| (As on 31-Dec-2025) | |
| Expense | 0.80% |
| (As on 31-Dec-2025) | |
| Risk Grade | — |
| Return Grade | — |
| Turnover | 14.67% |
Trailing Returns (%)
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| HDFC Defence Dir | 0.29 | -0.79 | 4.26 | -4.76 | -4.96 | 18.81 | — | — | — | — |
| BSE 500 TRI | -1.63 | 0.08 | -0.40 | -0.24 | 0.50 | 9.14 | — | — | — | — |
Peer Comparison of HDFC Defence Fund
| Rating | 1 Year Returns | 3 Year Returns | 5 Year Returns | Expense Ratio (%) | Net Assets (Rs) (Rs Cr) | Return Since Launch (%) | Exit Load (Days) | Fund Age | Turnover (%) | |
| HDFC Defence Dir | Unrated | 18.81 | — | — | 0.80 | 7,391 | 39.84 | 1.00 (365) | 2Y 7M | 14.67 |
| ICICI Pru India Opportunities Dir | Unrated | 14.82 | 24.19 | 26.52 | 0.66 | 34,779 | 22.36 | 1.00 (365) | 7Y | 62.00 |
| Franklin India Opportunities Dir | Unrated | 7.77 | 31.27 | 22.29 | 0.54 | 8,380 | 17.83 | 1.00 (365) | 13Y | 50.86 |
| Sundaram Services Dir | Unrated | 13.12 | 20.51 | 20.67 | 0.67 | 4,809 | 20.42 | 1.00 (365) | 7Y 3M | 40.50 |
| ICICI Pru Eqt Minimum Variance Fund Dir | Unrated | 13.74 | — | — | 0.76 | 3,843 | 9.75 | 1.00 (360) | 1Y 1M | 69.00 |
Portfolio Analysis of HDFC Defence Fund
| No. of Stocks | 24 |
| Top 10 Stocks | 84.07% |
| Top 5 Stocks | 62.58% |
| Top 3 Sectors | 93.36% |
| Portfolio P/B Ratio | 8.59 |
| Portfolio P/E Ratio | 53.17 |
Portfolio Breakup
| Fund | Category | |
| Average Mkt Cap (Rs Cr) | 59,465 | 1,43,662 |
| Giant (%) | — | — |
| Large (%) | 49.90 | 52.58 |
| Mid (%) | 19.29 | 29.65 |
| Small (%) | 30.80 | 20.14 |
| Tiny (%) | — | — |
Disclaimer: Mutual fund investments are subject to market risks. Read all scheme related documents carefully
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