HDFC Asset Management Company (HDFC AMC), which manages HDFC Mutual Fund, currently offers around 138 mutual fund schemes and manages assets worth nearly ₹9.6 lakh crore, according to ACE MF data. These include 57 are equity schemes, 60 debt funds, while the remainder are hybrid, commodity, and other fund categories. HDFC Mutual Fund’s equity schemes account for an asset under management (AUM) of ₹4.88 lakh crore, whereas its debt funds manage more than ₹2.3 lakh crore.
Before reading further, please keep the following points in mind. Also, note that this exercise is for educational and informational purposes only and is not intended as a recommendation to invest in any of the schemes mentioned below.
Key points
The top five schemes of HDFC Mutual Fund over 3 and 5 years till July 14, 2026 include two thematic funds, one gold fund of fund, one midcap, and a flexi cap scheme.
This analysis is based on return data provided by ACE MF as of July 14, 2026. However, you should know that mutual fund returns can change quickly with changing market conditions. Therefore, one should never select a scheme for investment based on past performance alone.
For this article, only direct plans have been considered in this list. Returns for regular and IDCW versions of a scheme are generally lower than its direct plan.
What are these funds?
The top-5 HDFC Mutual Fund schemes based on 3-year and 5-year returns as of July 14, 2026, are the following:
| Scheme | 3-year CAGR (%) | 5-year CAGR (%) |
|---|---|---|
| HDFC Gold ETF FOF | 31.82 | 22.74 |
| HDFC Focused Fund | 17.52 | 19.82 |
| HDFC Infrastructure Fund | 19.62 | 20.94 |
| HDFC Midcap Fund | 20.31 | 20.37 |
| HDFC Flexi Cap Fund | 17.40 | 18.41 |
Source: ACE MF; data as of July 14, 2026
HDFC Gold ETF FoF
The direct plan of this gold mutual fund scheme from HDFC AMC has generated 31.82% annualised returns in three years and 22.74% in five years. The scheme benefited from the massive gold rush in 2025, generating a 41.42% return in a year till July 14, 2026. However, the scheme’s returns in the past 3 and six months have been negative at -6.4% and -1.97% respectively.
Managed by Arun Agarwal, the scheme seeks to provide capital appreciation by investing in units of HDFC Gold Exchange Traded Fund.
HDFC Focused Fund
The direct plan of this scheme has generated 17.52% annualised returns in three years and 19.82% in five years. The scheme generated 1.64% return in a year. It has seen a -2.26% and 3.73% returns over 6-month and 3-month durations, respectively.
Managed by Amit Ganatra, the scheme aims to generate long term capital appreciation
y investing in equity & equity related instruments of up to 30 companies.
HDFC Infrastructure Fund
The direct plan of this scheme has generated 19.62% annualised returns in three years and 20.94% in five years. The scheme generated -0.55% return in a year. However, it has seen a little better returns of 1.75% and 4.37% over 6-month and 3-month durations respectively.
Managed by Ashish Shah, the scheme seeks to provide investors long-term capital appreciation by investing predominantly in equity and equity related securities of companies engaged in or expected to benefit from the growth and development of infrastructure.
HDFC Midcap Fund
The direct plan of this scheme has generated 20.31% annualised returns in three years and 20.37% in five years. However, the scheme has delivered lower returns in one year. Data shows this fund has generated 6.08% return in one-year, 3.5% in 6 months and 7.46% in the past three months.
Managed by Chirag Setalvad, the scheme aims to provide long-term income by investing predominantly in midcap companies.
HDFC Flexi Cap Fund
The direct plan of this scheme has generated 17.40% annualised returns in three years and 18.41% in five years. However, the scheme has delivered lower returns in one year. Data shows this fund has generated 2.58% returns in one-year, -1.94% in 6 months and 3.84% in the past three months.
Managed by Amit Ganatara, the scheme aims to generate income from a portfolio, predominantly invested in equity and equity-related instruments.
Disclaimer: The information contained in this article is for informational purposes only and does not represent investment advice from Upstox. Investment decisions should be made based on independent research or consultation with a registered financial advisor. Past performance is not indicative of future results.
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