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Axis Global Innovation Fund of Fund - Direct Plan - Growth vs HSBC Brazil Fund - Growth Direct
Axis Global Innovation Fund of Fund and HSBC Brazil Fund are both in the FoF Overseas category, from Axis Asset Management Co. Ltd. and HSBC Asset Management (India) Private Ltd. respectively. Axis Global Innovation Fund of Fund has posted a higher 3-year rolling CAGR. Axis Global Innovation Fund of Fund has the lower expense ratio. See the full table and FAQ below for the complete real-data comparison.
Basics
Axis Global Innovation Fund of Fund has the lower direct-plan expense ratio, by 0.07 percentage points.
| Axis Global Innovation Fund of Fund - Direct Plan - Growth | HSBC Brazil Fund - Growth Direct | |
|---|---|---|
| Category | FoF Overseas | FoF Overseas |
| AMC | Axis Asset Management Co. Ltd. | HSBC Asset Management (India) Private Ltd. |
| Benchmark | MSCI AC World Index TRI | MSCI Brazil Index (EWZ ETF) |
| NAV | ₹19.94 (2026-10-28) | ₹10.3235 (2026-10-28) |
| AUM | ₹891.653 Cr | ₹384.066 Cr |
| Expense Ratio (Direct) | 0.85% | 0.92% |
| Inception | 2021-05-10 | 2011-04-15 |
Returns
Axis Global Innovation Fund of Fund leads on 3-year rolling CAGR (19.3% vs HSBC Brazil Fund's 1.2%) - see the FAQ below for percentile context within each fund's own category.
Risk Metrics
HSBC Brazil Fund has been the more volatile of the two by standard deviation.
| Axis Global Innovation Fund of Fund - Direct Plan - Growth | HSBC Brazil Fund - Growth Direct | |
|---|---|---|
| 3Y Sharpe Ratio | 1.00 | 0.59 |
| 3Y Alpha | -0.8618% | 5.5818% |
| 3Y Std Deviation | 16.8517% | 23.4535% |
| 3Y Calmar Ratio | 1.06 | 0.73 |
Portfolio Analytics
Punji Fund Health Score
Axis Global Innovation Fund of Fund has the stronger Punji Quality grade of the two.
Frequently asked questions
Which has a higher 3-year return, Axis Global Innovation Fund of Fund or HSBC Brazil Fund?
Axis Global Innovation Fund of Fund's 3-year rolling CAGR of 19.3% is higher than HSBC Brazil Fund's 1.2%. Axis Global Innovation Fund of Fund sits in the 74th percentile of its category on this metric, versus the 2nd percentile for HSBC Brazil Fund - though note both funds may belong to different categories with different medians, so a raw CAGR comparison doesn't account for how each fund performed relative to its own peers. A higher historical return also doesn't necessarily mean lower risk; check the risk metrics below before concluding either fund is the "better" choice.
Which has a lower expense ratio, Axis Global Innovation Fund of Fund or HSBC Brazil Fund?
Axis Global Innovation Fund of Fund's direct-plan expense ratio is 0.07 percentage points lower than HSBC Brazil Fund's. Over long holding periods, a persistent expense-ratio gap compounds into a materially different final corpus even if the two funds' gross returns are similar - it's one of the few fund attributes you can compare with total certainty upfront, unlike future returns, since the fee is contractually fixed rather than a historical estimate.
Which fund carries more risk, Axis Global Innovation Fund of Fund or HSBC Brazil Fund?
By standard deviation (a measure of how much a fund's returns swing around its own average), HSBC Brazil Fund has been more volatile than Axis Global Innovation Fund of Fund over the trailing window. Standard deviation captures total volatility in both directions - up and down - so a higher figure means bigger swings generally, not necessarily bigger losses specifically. Sharpe ratio (1.00 for Axis Global Innovation Fund of Fund vs 0.59 for HSBC Brazil Fund) is a better single measure of risk-adjusted return, since it weighs the return earned per unit of volatility taken rather than volatility alone.
Which has higher AUM, Axis Global Innovation Fund of Fund or HSBC Brazil Fund?
Axis Global Innovation Fund of Fund has ₹892 Cr in assets under management, versus ₹384 Cr for HSBC Brazil Fund. A larger AUM generally means deeper liquidity and lower per-unit fixed costs for the AMC to spread across investors, but an AUM that's very large relative to a fund's category and strategy (especially in small/mid cap categories, where the investable universe is smaller) can also make it harder for a manager to enter and exit positions without moving the price - bigger isn't automatically better, especially for less liquid categories.
Which fund has a longer track record, Axis Global Innovation Fund of Fund or HSBC Brazil Fund?
HSBC Brazil Fund launched on 2011-04-15, making it older than Axis Global Innovation Fund of Fund (launched 2021-05-10). A longer track record means more real market cycles (bull runs, corrections, rate cycles) the fund has actually navigated, which is useful context for judging consistency - but it isn't a guarantee of future performance, and a newer fund isn't automatically worse, especially if it's run by an experienced manager or team with a track record at a prior fund.
Data as of 2026-10-29. Source: AMFI disclosures via Punji. Not investment advice.