COMPARE
Axis Innovation Fund - Direct Plan - Growth Option vs HSBC Consumption Fund - Direct Growth
Axis Innovation Fund and HSBC Consumption Fund are both in the Thematic Fund category, from Axis Asset Management Co. Ltd. and HSBC Asset Management (India) Private Ltd. respectively. Axis Innovation Fund has posted a higher 3-year rolling CAGR. HSBC Consumption Fund has the lower expense ratio. See the full table and FAQ below for the complete real-data comparison.
Basics
HSBC Consumption Fund has the lower direct-plan expense ratio, by 0.47 percentage points.
| Axis Innovation Fund - Direct Plan - Growth Option | HSBC Consumption Fund - Direct Growth | |
|---|---|---|
| Category | Thematic Fund | Thematic Fund |
| AMC | Axis Asset Management Co. Ltd. | HSBC Asset Management (India) Private Ltd. |
| Benchmark | Nifty 500 TRI | Nifty India Consumption TRI |
| NAV | ₹22.26 (2026-10-28) | ₹14.8658 (2026-10-28) |
| AUM | ₹1,295.798 Cr | ₹1,826.916 Cr |
| Expense Ratio (Direct) | 1.35% | 0.88% |
| Inception | 2020-12-04 | 2023-08-10 |
Returns
Axis Innovation Fund leads on 3-year rolling CAGR (16.2% vs HSBC Consumption Fund's 15.7%) - see the FAQ below for percentile context within each fund's own category.
Risk Metrics
HSBC Consumption Fund has been the more volatile of the two by standard deviation.
| Axis Innovation Fund - Direct Plan - Growth Option | HSBC Consumption Fund - Direct Growth | |
|---|---|---|
| 3Y Sharpe Ratio | 0.52 | 0.30 |
| 3Y Alpha | 6.659% | 3.8632% |
| 3Y Std Deviation | 15.0729% | 16.3816% |
| 3Y Calmar Ratio | 0.76 | 0.56 |
Portfolio Analytics
Axis Innovation Fund carries the higher portfolio P/E ratio (a rougher proxy for how richly the underlying holdings are valued) - see the table below for the full comparison.
| Axis Innovation Fund - Direct Plan - Growth Option | HSBC Consumption Fund - Direct Growth | |
|---|---|---|
| P/E Ratio | 69.3577 | 48.8883 |
| P/B Ratio | - | 6.656 |
| Dividend Yield | 0.1522% | 0.4391% |
| Active Share | 92.44% | 65.33% |
| Portfolio Turnover | 83% | 24% |
| YTM | 5.28% | - |
| Duration (Macaulay) | - | - |
Punji Fund Health Score
HSBC Consumption Fund has the stronger Punji Quality grade of the two.
Frequently asked questions
Which has a higher 3-year return, Axis Innovation Fund or HSBC Consumption Fund?
Axis Innovation Fund's 3-year rolling CAGR of 16.2% is higher than HSBC Consumption Fund's 15.7%. Axis Innovation Fund sits in the 39th percentile of its category on this metric, versus the 35th percentile for HSBC Consumption 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 Innovation Fund or HSBC Consumption Fund?
HSBC Consumption Fund's direct-plan expense ratio is 0.47 percentage points lower than Axis Innovation 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 Innovation Fund or HSBC Consumption Fund?
By standard deviation (a measure of how much a fund's returns swing around its own average), HSBC Consumption Fund has been more volatile than Axis Innovation 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 (0.52 for Axis Innovation Fund vs 0.30 for HSBC Consumption 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 Innovation Fund or HSBC Consumption Fund?
HSBC Consumption Fund has ₹1,827 Cr in assets under management, versus ₹1,296 Cr for Axis Innovation 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 Innovation Fund or HSBC Consumption Fund?
Axis Innovation Fund launched on 2020-12-04, making it older than HSBC Consumption Fund (launched 2023-08-10). 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.