Two popular flexi cap mutual funds in India , HDFC Flexi Cap Fund Direct Growth (earlier known as HDFC Equity Fund) and Parag Parikh Flexi Cap Fund Direct Growth are often compared by investors. Both have strong track records but differ in size, cost, investment style, and performance. Here is a clear, data-driven comparison based on the latest figures from Groww as of May 2026.
Fund Basics
- HDFC Flexi Cap Fund: NAV around ₹2,128–2,130, AUM ₹1,00,479 Cr, Expense Ratio 0.91%, Minimum SIP ₹100
- Parag Parikh Flexi Cap Fund: NAV around ₹90.65, AUM ₹1,40,949 Cr, Expense Ratio 0.68%, Minimum SIP ₹1,000
- Risk Rating for both funds: Very High
Returns Comparison
- 1 Year Returns: Parag Parikh Flexi Cap Fund has delivered slightly higher returns at around +1.28% compared to HDFC Flexi Cap Fund.
- 3 Year Annualised Returns: HDFC Flexi Cap Fund has performed better at around +18.6% while Parag Parikh Flexi Cap Fund delivered around +16.7%.
- Over longer periods (5 years and 10 years), both funds have shown competitive returns, with HDFC Flexi Cap showing stronger numbers in some recent comparisons.
Past performance is not indicative of future results.
Portfolio Style and Holdings
- HDFC Flexi Cap Fund: Holds around 68 stocks with a more concentrated domestic approach. Heavy allocation to the financial sector. Top holdings include ICICI Bank, Axis Bank, HDFC Bank, and State Bank of India.
- Parag Parikh Flexi Cap Fund: Holds a broader portfolio of around 114 stocks. It includes significant international exposure to stocks such as Alphabet, Amazon, Meta, and Microsoft. Key domestic holdings include HDFC Bank, Power Grid Corporation, Coal India, and ITC.
Investment Objective
Both funds aim for long-term capital appreciation by investing in equity and equity-related instruments across different market capitalisations. Parag Parikh Flexi Cap Fund has the additional flexibility to invest in foreign securities.
Which Fund Is Right for You?
- Consider HDFC Flexi Cap Fund if you prefer a lower minimum SIP amount, stronger recent 3-year performance, and a concentrated domestic equity portfolio.
- Consider Parag Parikh Flexi Cap Fund if you want a lower expense ratio, larger fund size, and diversification through international stocks.
Bottom line: There is no single winner. HDFC Flexi Cap leads on recent 3-year returns and easier SIP accessibility, while Parag Parikh Flexi Cap stands out on lower costs, bigger AUM, and global exposure. Your choice should depend on your risk tolerance, investment horizon (ideally 5+ years), and preference for domestic versus international diversification. Many investors consider holding both funds in their portfolio.
Disclaimer: Mutual fund investments are subject to market risks. Please read the scheme information document and other related documents carefully before investing. Past performance is not indicative of future results. The information provided in this article is for informational purposes only and should not be construed as investment advice. Consult a financial advisor before making any investment decisions.