HDFC Dynamic Debt Fund
Dynamic Bond · HDFC Asset Management Company Limited
Among the 134 funds in its category, this one has grown money a bit faster than average. ₹1 lakh invested 5 years ago would be about ₹1.3 lakh today. Investing ₹10,000 every month for the last 10 years would have put in ₹12.1 lakh and grown it to about ₹16.8 lakh. Be warned: in its worst stretch, ₹1 lakh briefly shrank to about ₹92,510. Its ride has historically been comparatively steady.
New to fund research? Start with the 5-minute guide. The detailed numbers below back all of this up.HDFC Dynamic Debt Fund is a Dynamic Bond fund from HDFC Asset Management Company Limited. It has a track record of about 13.7 years. As of the latest data it carries an RS rating of 82/99 (its recent momentum versus category peers) and a King Score of 71/100 (a long-term quality composite). The current NAV is ₹103.32 (as of 2026-09-16).
Growth of ₹100 - last 5 years
HDFC Dynamic Debt Fund returns: last 1, 3, 5 and 10 years
| Period | This fund | Category average |
|---|---|---|
| 1 month | -1.33% | -0.84% |
| 3 months | 1.63% | 1.11% |
| 6 months | 2.69% | 2.54% |
| 1 year | 4.77% | 4.78% |
| 3 years (CAGR) | 6.64% | 6.99% |
| 5 years (CAGR) | 5.81% | 6.28% |
| 10 years (CAGR) | 6.16% | 6.9% |
The last 10 years return of HDFC Dynamic Debt Fund works out to 6.16% a year (CAGR) - ₹1 lakh invested 10 years ago would be about ₹1.8 lakh today. The last 5 years return is 5.81% a year (₹1 lakh → ₹1.3 lakh), and the last 3 years return is 6.64% - behind its category's 6.99% average by 0.4 points. Its trailing one-year return is 4.77%. Trailing returns flatter or disappoint depending on the end date you pick - the year-by-year and rolling-return sections below are a fairer read.
Year-by-year returns
| Year | HDFC Dynamic Debt Fund | Benchmark |
|---|---|---|
| 2018 | +4.8% | n/a |
| 2019 | +3.9% | n/a |
| 2020 | +9.8% | n/a |
| 2021 | +8.2% | n/a |
| 2022 | +2.8% | n/a |
| 2023 | +7.9% | n/a |
| 2024 | +9.2% | n/a |
| 2025 | +5.5% | n/a |
| 2026 | +3.3% | n/a |
Calendar-year returns show how bumpy the ride really was - an average hides the good years and the ugly ones.
What a monthly SIP in HDFC Dynamic Debt Fund would have made
A ₹10,000-a-month SIP, using this fund's actual NAV history. SIP returns (XIRR) differ from lumpsum CAGR because your money goes in gradually, averaging your entry price.
| SIP duration | You invested | It became | XIRR |
|---|---|---|---|
| 3 years | ₹370,000 | ₹403,323 | 5.68% |
| 5 years | ₹610,000 | ₹714,746 | 6.27% |
| 10 years | ₹1,210,000 | ₹1,684,095 | 6.43% |
Over 10 years, ₹1,210,000 invested in monthly instalments would have grown to about ₹1,684,095 - an XIRR of 6.43%. Figures are pre-tax and assume you stayed invested throughout.
Risk & drawdowns
| Measure | This fund | Category average |
|---|---|---|
| Worst drawdown (lifetime) | -7.49% | -5.55% |
| Worst drawdown (3Y) | -2.59% | -2.09% |
| Volatility (1Y) | 3.66% | 2.83% |
| Sharpe (3Y) | 0.05 | 0.25 |
| Bull-market return | 6.4% | 6.88% |
| Bear-market return | 7.4% | 8.68% |
Timing matters more than people admit: the best possible 1-year stretch in HDFC Dynamic Debt Fund (starting 2014-02-26) gained 19.9%, while the worst (starting 2017-06-13) lost 0.2%. The worst peak-to-bottom fall HDFC Dynamic Debt Fund has ever put investors through is -7.49% - the real test of whether you'd have stayed invested. In falling markets (Nifty below its 200-day average) it has returned about 7.4% annualised, versus 6.4% in rising markets.
How HDFC Dynamic Debt Fund behaves when markets fall
When the market is falling (the Nifty below its 200-day average), HDFC Dynamic Debt Fund has historically returned about 7.4% annualised, versus roughly 6.4% when the market is rising. Its deepest fall on record is -7.49%. Right now it sits about 1.33% below its all-time high (last hit 2026-08-14). The real question isn't the average year - it's whether you could hold on through the worst one.
How HDFC Dynamic Debt Fund ranks in its category
Percentile versus its ~134 category peers - 100th is best-in-class, 50th is average. This is the fairest apples-to-apples read.
Consistency (rolling returns)
| Measure | Value |
|---|---|
| Median 3Y rolling CAGR | 7.14% |
| 3Y windows positive | 100.0% |
| Worst 3Y window | 2.9% |
| Median 5Y rolling CAGR | 7.0% |
| Median 10Y rolling CAGR | 7.39% |
Instead of one lucky start date, rolling returns test every start date. Across all 3-year windows in its history, HDFC Dynamic Debt Fund returned a median of 7.14% a year, and 100.0% of those windows were positive.
Who manages HDFC Dynamic Debt Fund - and how good are they?
HDFC Dynamic Debt Fund is managed by Anil Bamboli and Dhruv Muchhal. Below is each manager's complete track record - every fund they currently run, judged on the same numbers as everything else on this page - so you can see whether this fund is in strong hands or is the outlier in a weak book.
Anil Bamboli's full record
Anil Bamboli currently runs 10 funds, across Banking and PSU Fund, Dynamic Bond, Equity Savings, FoF Domestic and more, with about ₹47,557 Cr under management. The book's average King Score is 71.1/100. Their strongest fund by King Score is HDFC Medium Term Debt Fund (87/100); HDFC Dynamic Debt Fund ranks #8 of 10 in their book.
Tap any column heading to sort.
| # | Fund | RS | King | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR | 10Y CAGR | Sharpe | Roll 3Y | Worst fall |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | HDFC Medium Term Debt Fund | 84 | 87 | 1.7% | 3.5% | 6.7% | 7.8% | 6.7% | 7.5% | 1.06 | 8.2% | -3.5% |
| 2 | HDFC Ultra Short Term Fund | 81 | 82 | 1.8% | 3.4% | 6.5% | 7.2% | 6.5% | n/a | 1.33 | 6.0% | -1.0% |
| 3 | HDFC Short Term Debt Fund | 78 | 80 | 1.2% | 2.8% | 5.7% | 7.5% | 6.5% | 7.4% | 0.94 | 7.9% | -2.7% |
| 4 | HDFC Banking and PSU Debt Fund | 66 | 79 | 1.0% | 2.6% | 5.2% | 7.1% | 6.2% | 7.2% | 0.46 | 7.9% | -3.1% |
| 5 | HDFC Equity Savings Fund | 64 | 75 | 0.7% | 1.9% | 2.4% | 8.0% | 8.1% | 9.6% | 0.3 | 11.4% | -16.9% |
| 6 | HDFC Gilt Fund | 52 | 75 | 0.9% | 1.8% | 3.5% | 6.3% | 5.4% | 6.0% | -0.07 | 7.3% | -11.9% |
| 7 | HDFC Multi-Asset Active FOF | 44 | 72 | 1.0% | 3.1% | 5.3% | 12.8% | 12.7% | n/a | 0.83 | 16.9% | -8.1% |
| 8 | HDFC Dynamic Debt Fund (this page) | 82 | 71 | 1.6% | 2.7% | 4.8% | 6.6% | 5.8% | 6.2% | 0.05 | 7.1% | -7.5% |
| 9 | HDFC Income Plus Arbitrage Active FOF | 52 | 45 | 1.4% | 2.8% | 5.7% | 8.5% | 10.2% | 11.2% | 0.39 | 13.0% | -23.1% |
| 10 | HDFC Multi-Asset Fund | 22 | 45 | 0.2% | 0.6% | 2.7% | 11.3% | 10.7% | 11.4% | 0.62 | 12.9% | -27.1% |
Dhruv Muchhal's full record
Dhruv Muchhal currently runs 36 funds, across Aggressive Hybrid Fund, Banking and PSU Fund, Conservative Hybrid Fund, Credit Risk Fund and more, with about ₹541,304 Cr under management. The book's average King Score is 66.5/100. Their strongest fund by King Score is HDFC Transportation and Logistics Fund (89/100); HDFC Dynamic Debt Fund ranks #18 of 36 in their book.
Tap any column heading to sort.
| # | Fund | RS | King | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR | 10Y CAGR | Sharpe | Roll 3Y | Worst fall |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | HDFC Transportation and Logistics Fund | 82 | 89 | 8.3% | 16.7% | 7.7% | 24.1% | n/a | n/a | 0.98 | n/a | -23.5% |
| 2 | HDFC Medium Term Debt Fund | 84 | 87 | 1.7% | 3.5% | 6.7% | 7.8% | 6.7% | 7.5% | 1.06 | 8.2% | -3.5% |
| 3 | HDFC Liquid Fund | 88 | 86 | 1.6% | 3.4% | 6.6% | 7.0% | 6.3% | 6.1% | 1.22 | 6.8% | -0.2% |
| 4 | HDFC Value Fund | 86 | 84 | 2.6% | 9.0% | 5.5% | 14.8% | 13.5% | 14.3% | 0.57 | 17.2% | -43.9% |
| 5 | HDFC Defence Fund | 87 | 83 | 3.6% | 21.2% | 20.6% | 36.0% | n/a | n/a | 1.06 | n/a | -34.5% |
| 6 | HDFC Ultra Short Term Fund | 81 | 82 | 1.8% | 3.4% | 6.5% | 7.2% | 6.5% | n/a | 1.33 | 6.0% | -1.0% |
| 7 | HDFC Short Term Debt Fund | 78 | 80 | 1.2% | 2.8% | 5.7% | 7.5% | 6.5% | 7.4% | 0.94 | 7.9% | -2.7% |
| 8 | HDFC Income Fund | 77 | 79 | 1.2% | 2.4% | 4.2% | 6.7% | 5.7% | 5.9% | 0.09 | 6.8% | -10.6% |
| 9 | HDFC Credit Risk Debt Fund | 73 | 79 | 2.0% | 3.9% | 7.4% | 8.2% | 7.1% | 7.9% | 1.58 | 8.2% | -2.6% |
| 10 | HDFC Banking and PSU Debt Fund | 66 | 79 | 1.0% | 2.6% | 5.2% | 7.1% | 6.2% | 7.2% | 0.46 | 7.9% | -3.1% |
| 11 | HDFC Flexi Cap Fund | 45 | 79 | 1.8% | 4.6% | 0.3% | 14.5% | 16.5% | 15.7% | 0.62 | 17.8% | -41.8% |
| 12 | HDFC Focused Fund | 41 | 78 | 0.9% | 2.7% | -2.0% | 14.2% | 17.5% | 14.5% | 0.61 | 17.1% | -45.6% |
| 13 | HDFC Hybrid Debt Fund | 68 | 77 | 0.1% | 0.9% | 1.9% | 7.1% | 7.7% | 8.3% | 0.15 | 10.3% | -12.1% |
| 14 | HDFC Long Duration Debt Fund | 74 | 76 | 0.7% | 1.6% | 2.3% | 5.8% | n/a | n/a | -0.17 | 6.4% | -6.0% |
| 15 | HDFC Equity Savings Fund | 64 | 75 | 0.7% | 1.9% | 2.4% | 8.0% | 8.1% | 9.6% | 0.3 | 11.4% | -16.9% |
| 16 | HDFC Mid Cap Fund | 60 | 75 | 2.1% | 8.6% | 5.7% | 16.6% | 18.1% | 17.2% | 0.63 | 23.3% | -39.5% |
| 17 | HDFC Gilt Fund | 52 | 75 | 0.9% | 1.8% | 3.5% | 6.3% | 5.4% | 6.0% | -0.07 | 7.3% | -11.9% |
| 18 | HDFC Dynamic Debt Fund (this page) | 82 | 71 | 1.6% | 2.7% | 4.8% | 6.6% | 5.8% | 6.2% | 0.05 | 7.1% | -7.5% |
| 19 | HDFC ELSS Tax saver | 23 | 70 | -0.5% | 0.4% | -6.1% | 11.7% | 13.5% | 13.0% | 0.39 | 15.6% | -44.1% |
| 20 | HDFC Banking & Financial Services Fund | 45 | 67 | -1.1% | 3.7% | 5.5% | 11.2% | 11.6% | n/a | 0.28 | 17.2% | -21.7% |
| 21 | HDFC Business Cycle Fund | 71 | 65 | 4.8% | 13.4% | 2.1% | 10.6% | n/a | n/a | 0.29 | 13.7% | -18.0% |
| 22 | HDFC Large and Mid Cap Fund | 40 | 64 | 0.4% | 5.7% | -0.5% | 11.8% | 13.8% | 14.4% | 0.34 | 17.0% | -39.5% |
| 23 | HDFC Large Cap Fund | 58 | 60 | -0.5% | 0.8% | -3.5% | 8.0% | 10.5% | 12.2% | 0.11 | 15.0% | -40.8% |
| 24 | HDFC Infrastructure Fund | 16 | 56 | -3.1% | 2.8% | -3.3% | 13.7% | 18.7% | 11.4% | 0.41 | 12.9% | -63.1% |
| 25 | HDFC Multi Cap Fund | 20 | 46 | -0.1% | 4.4% | -3.2% | 10.7% | n/a | n/a | 0.27 | 21.6% | -20.2% |
| 26 | HDFC Multi-Asset Fund | 22 | 45 | 0.2% | 0.6% | 2.7% | 11.3% | 10.7% | 11.4% | 0.62 | 12.9% | -27.1% |
| 27 | HDFC Hybrid Equity Fund | 39 | 44 | 0.2% | 0.3% | -4.7% | 5.8% | 7.9% | 10.1% | -0.07 | 13.0% | -33.6% |
| 28 | HDFC Consumption Fund | 32 | 44 | 1.4% | 6.5% | -8.9% | 10.3% | n/a | n/a | 0.24 | n/a | -23.5% |
| 29 | HDFC Small Cap Fund | 7 | 41 | 1.8% | 9.7% | -3.0% | 10.2% | 14.4% | 17.5% | 0.22 | 21.2% | -48.3% |
| 30 | HDFC Housing Opportunities Fund | 7 | 37 | -3.9% | -0.4% | -6.7% | 8.4% | 10.8% | n/a | 0.11 | 18.1% | -42.2% |
| 31 | HDFC MNC Fund | 59 | 33 | 3.0% | 10.2% | 0.6% | 6.8% | n/a | n/a | 0.03 | 8.7% | -24.5% |
| 32 | HDFC Technology Fund | 43 | 21 | 7.3% | 4.7% | -13.7% | 5.5% | n/a | n/a | -0.04 | n/a | -29.7% |
| 33 | HDFC Pharma and Healthcare Fund | 97 | n/a | 10.1% | 25.4% | 24.4% | n/a | n/a | n/a | 1.65 | n/a | -14.9% |
| 34 | HDFC Innovation Fund | 91 | n/a | 10.5% | 21.2% | 14.3% | n/a | n/a | n/a | n/a | n/a | -12.2% |
| 35 | HDFC Manufacturing fund | 66 | n/a | 2.7% | 10.9% | 5.1% | n/a | n/a | n/a | 0.04 | n/a | -21.5% |
| 36 | HDFC Diversified Equity All Cap Active FOF | n/a | n/a | 0.5% | 4.1% | n/a | n/a | n/a | n/a | n/a | n/a | -13.6% |
A caveat worth keeping: funds often have co-managers, and results belong to the whole team and process rather than one person. A manager's book tells you about their range and consistency, not a guarantee of skill.
Cost & fund basics
| Detail | Value |
|---|---|
| Expense ratio (Direct) | 0.74% |
| Exit load | ≈1% if redeemed within 1 year (typical) |
| Minimum investment | ₹100 |
| Fund size (AUM) | ₹233 Cr |
| Age | 13.7 years |
| Plan / Option | Direct · Growth |
How HDFC Dynamic Debt Fund compares to peers
| Fund | RS | King | 3Y CAGR |
|---|---|---|---|
| Kotak Dynamic Bond Fund | 96 | 92 | 7.8% |
| ICICI Prudential All Seasons Bond Fund | 83 | 89 | 7.6% |
| Mahindra Manulife Dynamic Bond Fund | 81 | 89 | 7.4% |
| 360 ONE Dynamic Bond Fund | 90 | 86 | 8.0% |
| Aditya Birla Sun Life Dynamic Bond Fund | 87 | 85 | 7.6% |
| Mirae Asset Dynamic Bond Fund | 58 | 84 | 6.9% |
Overlap warning: funds in the same category often own many of the same stocks - holding several rarely adds the diversification people expect.
What these numbers mean
RS rating (1-99) ranks a fund's recent momentum against its category - higher is stronger right now. King Score (0-100) is a long-term quality composite (returns, consistency, drawdown, risk-adjusted return) versus peers. Max drawdown is the worst peak-to-bottom fall the fund has ever experienced. Rolling returns test every possible start date, so one lucky (or unlucky) entry point can't distort the picture. Every formula behind this page is public - see how we calculate every number.
HDFC Dynamic Debt Fund review: the bottom line
Related
Frequently asked questions
Is HDFC Dynamic Debt Fund a good mutual fund?
That depends on your goals and risk tolerance - this is descriptive research, not advice. On the numbers, HDFC Dynamic Debt Fund scores 71/100 on our King Score and RS 82/99 within its category, has compounded 6.64% a year over three years, and its worst drawdown was -7.49%. Compare those against your needs and the peer table above.
What is the NAV of HDFC Dynamic Debt Fund today?
The latest NAV is ₹103.32 (as of 2026-09-16). NAV (net asset value) is the per-unit price of the fund, published every business day by the AMC.
What is the last 10 years return of HDFC Dynamic Debt Fund?
Over the last 10 years HDFC Dynamic Debt Fund has returned about 6.16% a year (CAGR). In rupees: ₹1 lakh invested 10 years ago would be roughly ₹1.8 lakh today, before tax. See the year-by-year table above for how uneven the ride was.
What is the expense ratio of HDFC Dynamic Debt Fund?
The Direct-plan expense ratio is 0.74% a year. The Direct plan is cheaper than the Regular plan because it carries no distributor commission - over decades that gap compounds meaningfully.
Who is the fund manager of HDFC Dynamic Debt Fund?
HDFC Dynamic Debt Fund is managed by Anil Bamboli; Dhruv Muchhal.
Is HDFC Dynamic Debt Fund safe? How risky is it?
No market-linked fund is 'safe' in the fixed-deposit sense - the honest question is how deep its falls get. Its worst historical drawdown was -7.49% - ₹1 lakh briefly becoming about ₹92,510. As a debt fund, its risk profile is typical of that category. Look at the drawdown, volatility and bear-market figures above and ask whether you could stay invested through the bad stretches.
Is HDFC Dynamic Debt Fund good for SIP?
We can't tell you what to do, but here is what actually happened: a ₹10,000 monthly SIP over the last 10 years grew ₹12.1 lakh into about ₹16.8 lakh (XIRR 6.43%). SIPs average your entry price, which helps most in funds that swing hard - check the crash-behaviour section above to see how it treats investors in bad markets.
What are the SIP returns of HDFC Dynamic Debt Fund?
A ₹10,000/month SIP over 10 years would have grown to about ₹1,684,095 (an XIRR of 6.43%) on ₹1,210,000 invested, using the fund's actual NAV history. See the SIP table above for other durations.
How does HDFC Dynamic Debt Fund rank among similar funds?
On 3-year returns it sits around the 68th percentile of its category, and its consistency ranks 84th percentile. 100th is best-in-class, 50th is average. See the category-ranking section above.
Is HDFC Dynamic Debt Fund tax-efficient / what about capital gains?
As a debt fund, gains follow the rules for its asset class - equity-oriented funds are taxed differently from debt. All returns on this page are pre-tax; your actual post-tax return depends on your holding period and slab. This is descriptive information, not tax advice.
Direct or Regular plan - which is shown here?
All figures on this page are for the Direct-Growth plan (no distributor commission, lower cost). Returns are pre-tax; capital-gains tax depends on your own holding period and slab.
See HDFC Dynamic Debt Fund live in the MF Terminal
Everything above is a static snapshot. The terminal is where you actually research it:
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Data: AMFI NAV history, NSE indices, BSE StAR and monthly disclosures. All figures are pre-tax. Descriptive research and education only - nothing here is investment advice or a recommendation to buy, sell or hold any fund. Past performance does not guarantee future returns.