HDFC Credit Risk Debt Fund - Direct Plan - IDCW - Quarterly

Regular

Regular and Direct options of the funds are exactly same except commission to your mutual fund broker/distributor. As an investor you do not need to pay any additional fees to purchase any of these options. However both have different expense ratios. Regular funds have higher expense ratio and direct funds have lower expense ratio. This difference is because of commission paid to broker/distributor. Lower expense ratio leads to higher returns for investors.
Direct

Regular and Direct options of the funds are exactly same except commission to your mutual fund broker/distributor. As an investor you do not need to pay any additional fees to purchase any of these options. However both have different expense ratios. Regular funds have higher expense ratio and direct funds have lower expense ratio. This difference is because of commission paid to broker/distributor. Lower expense ratio leads to higher returns for investors.

No of Debt Holding 81 (Category Avg - 35.50) | Modified Duration 2.38 Years (Category Avg - 2.13)| Yield to Maturity 8.02% (Category Avg - 7.57%)

Portfolio Summary (as on 31st Oct,2025)

Security Type	% Weight	Category Average
GOI	10.59%	14.87%
CD	0.00%	1.35%
CP	0.00%	0.06%
NCD & Bonds	76.08%	70.97%
PTC	2.71%	1.43%

Category - Credit Risk Fund

Security Type	% Weight	Category Average
Government Backed	10.59%	14.87%
Low Risk	63.38%	65.80%
Moderate Risk	15.41%	7.57%
High Risk	0.00%	0.00%
Very High Risk	0.00%	0.00%
Others	0.00%	0.00%

Category - Credit Risk Fund

Debt holding in Portfolio (as on 31st Oct,2025)

Instrument	Type	Sector	Rating	Rating Agency	Value (Mn)	% of Total Holding	Quantity
Bond - Sandur Manganese & Iron Ores Ltd.	NCD & Bonds	Ferro & silica manganese	LA+	ICRA	2890.54	4.11%	30.00 k
Bond - GMR Airports Ltd.	NCD & Bonds	Airport & airport services	A+	CRISIL	2677.14	3.81%	26.50 k
Bond - Tata Projects Ltd.	NCD & Bonds	Civil construction	AA	FITCH	2530.97	3.60%	25.00 k
Bond - Coastal Gujarat Power Ltd.	NCD & Bonds	Integrated power utilities	CARE AA+	CARE	2315.87	3.29%	2.19 k
Bond - Jubilant Beverages Ltd.	NCD & Bonds	Other beverages	AA	CRISIL	2032.50	2.89%	19.19 k
Bond - Bamboo Hotel And Global Centre (Delhi) Private Ltd.	NCD & Bonds	Hotels & resorts	LA+	ICRA	2032.01	2.89%	20.00 k
Bond - Kalpataru Projects International Ltd.	NCD & Bonds	Civil construction	AA	FITCH	2019.78	2.87%	20.00 k
Bond - SK Finance Ltd.	NCD & Bonds	Financial services	LAA-	ICRA	2008.25	2.86%	20.00 k
Bond - Jubilant Bevco Ltd.	NCD & Bonds	Restaurants	AA	CRISIL	1884.80	2.68%	17.75 k
Bond - Kalpataru Projects International Ltd.	NCD & Bonds	Civil construction	AA	CRISIL	1804.99	2.57%	18.00 k
Bond - J S W Energy Ltd.	NCD & Bonds	Power generation	LAA	ICRA	1767.84	2.52%	17.50 k
Bond - Nirma Ltd.	NCD & Bonds	Household products	AA	CRISIL	1770.68	2.52%	17.50 k
Bond - Aditya Birla Renewables Ltd.	NCD & Bonds	Power generation	AA	CRISIL	1523.34	2.17%	15.00 k
Bond - Jtpm Metal Traders Pvt Ltd.	NCD & Bonds	Trading - metals	AA	CRISIL	1528.65	2.17%	15.00 k
Bond - Kalpataru Projects International Ltd.	NCD & Bonds	Civil construction	AA	CRISIL	1511.23	2.15%	15.00 k
Bond - Vastu Finserve India Pvt Ltd.	NCD & Bonds	Non banking financial company (nbfc)	CARE AA-	CARE	1500.14	2.13%	15.00 k
Bond - Kogta Financial India Ltd.	NCD & Bonds	Non banking financial company (nbfc)	CARE A+	CARE	1487.20	2.12%	15.00 k
Bond - Govt of India	GOI	Other			1285.46	1.83%	1.30 Cr
Bond - TVS Credit Services Ltd	NCD & Bonds	Non banking financial company (nbfc)	AA+	CRISIL	1069.93	1.52%	105.00
Bond - Govt of India	GOI	Other			1031.06	1.47%	1.05 Cr
Bond - Mahindra Rural Housing Finance Ltd.	NCD & Bonds	Housing finance company	AAA	CRISIL	1018.63	1.45%	10.00 k
Bond - Godrej Industries Ltd	NCD & Bonds	Animal feed	AA+	CRISIL	1012.34	1.44%	10.00 k
Bond - Infopark Properties Ltd.	NCD & Bonds	Real estate investment trusts (reits)	CARE AA-	CARE	1006.50	1.43%	10.00 k
Bond - Ramco Industries Ltd.	NCD & Bonds	Cement & cement products	LAA-	ICRA	1001.12	1.42%	10.00 k
Bond - Govt of India	GOI	Other			858.49	1.22%	85.00 L
Bond - Nirma Ltd.	NCD & Bonds	Household products	AA	CRISIL	853.00	1.21%	8.50 k
Bond - Govt of India	GOI	Other			798.14	1.14%	77.32 L
Bond - Govt of India	GOI	Other			802.35	1.14%	80.00 L
Bond - Govt of India	GOI	Other			775.21	1.10%	77.50 L
Bond - JM Financial Home Loans Ltd.	NCD & Bonds	Housing finance company	AA	CRISIL	757.79	1.08%	7.50 k
Bond - JM Financial Home Loans Ltd.	NCD & Bonds	Housing finance company	AA	CRISIL	758.51	1.08%	7.50 k
Bond - IIFL Finance Ltd.	NCD & Bonds	Non banking financial company (nbfc)	AA	CRISIL	752.52	1.07%	7.50 k
Bond - Muthoot Capital Services Ltd.	NCD & Bonds	Non banking financial company (nbfc)	A+	CRISIL	672.75	0.96%	10.74 k
Bond - Govt of India	GOI	Other			617.71	0.88%	60.00 L
Bond - VAJRA 009 Trust	PTC	Ptc	LAA+	ICRA	605.29	0.86%	60.00
Bond - Mas Financial Services Ltd.	NCD & Bonds	Non banking financial company (nbfc)	CARE AA-	CARE	551.59	0.78%	5.50 k
Bond - ONGC Petro-Additions Ltd.	NCD & Bonds	Petrochemicals	AA+	CRISIL	509.65	0.73%	5.00 k
Bond - Power Finance Corporation Ltd.	NCD & Bonds	Financial institution	AAA	CRISIL	512.58	0.73%	5.00 k
Bond - Govt of India	GOI	Other			513.19	0.73%	50.00 L
Bond - Aadhar Housing Finance Ltd.	NCD & Bonds	Housing finance company	LAA	ICRA	507.85	0.72%	5.00 k
Bond - IndiGrid Infrastructure Trust	NCD & Bonds	Power - transmission	LAAA	ICRA	506.66	0.72%	500.00
Bond - National Bank for Agriculture & Rural Development	NCD & Bonds	Financial institution	AAA	CRISIL	507.81	0.72%	5.00 k
Bond - IKF Finance Ltd.	NCD & Bonds	Non banking financial company (nbfc)	CARE A+	CARE	500.90	0.71%	5.00 k
Bond - LIC Housing Finance Ltd.	NCD & Bonds	Housing finance company	AAA	CRISIL	499.33	0.71%	500.00
Bond - Resco Global Wind Services Pvt. Ltd.	NCD & Bonds	Other utilities	AA+	CRISIL	502.24	0.71%	20.00 k
Bond - Tata Capital Housing Finance Ltd.	NCD & Bonds	Housing finance company	AAA	CRISIL	499.11	0.71%	500.00
Bond - Mahindra Rural Housing Finance Ltd.	NCD & Bonds	Housing finance company	AA+	FITCH	423.02	0.60%	420.00
Bond - Govt of India	GOI	Other			396.14	0.56%	40.00 L
Bond - LIC Housing Finance Ltd.	NCD & Bonds	Housing finance company	AAA	CRISIL	387.74	0.55%	380.00
Bond - VAJRA 004 TRUST	PTC	Ptc	AA	CRISIL	354.89	0.50%	5.17 k
Bond - Kogta Financial India Ltd.	NCD & Bonds	Non banking financial company (nbfc)	LA+	ICRA	312.73	0.44%	12.50 k
Bond - TMF Holdings Ltd.	NCD & Bonds	Non banking financial company (nbfc)	AA+	CRISIL	297.11	0.42%	300.00
Bond - INDIGO 041	PTC	Ptc	AA	CRISIL	286.56	0.41%	284.00
Bond - IKF Finance Ltd.	NCD & Bonds	Non banking financial company (nbfc)	CARE A+	CARE	262.30	0.37%	3.97 k
Bond - Gera Development Pvt Ltd.	NCD & Bonds	Residential, commercial projects	CARE AA-	CARE	250.16	0.36%	2.50 k
Bond - Gera Development Pvt Ltd.	NCD & Bonds	Residential, commercial projects	CARE AA-	CARE	250.36	0.36%	2.50 k
Bond - Gera Development Pvt Ltd.	NCD & Bonds	Residential, commercial projects	CARE AA-	CARE	250.24	0.36%	2.50 k
Bond - Gera Development Pvt Ltd.	NCD & Bonds	Residential, commercial projects	CARE AA-	CARE	250.39	0.36%	2.50 k
Bond - Godrej Industries Ltd	NCD & Bonds	Animal feed	AA+	CRISIL	254.74	0.36%	2.50 k
Bond - Indian Railway Finance Corporation Ltd.	NCD & Bonds	Financial institution	AAA	CRISIL	255.86	0.36%	2.50 k
Bond - Motilal Oswal Home Finance Ltd.	NCD & Bonds	Housing finance company	LAA+	ICRA	253.81	0.36%	2.50 k
Bond - National Thermal Power Corporation Ltd.	NCD & Bonds	Power generation	AAA	CRISIL	250.51	0.36%	250.00
Bond - National Thermal Power Corporation Ltd.	NCD & Bonds	Power generation	AAA	CRISIL	251.78	0.36%	250.00
Bond - ONGC Petro-Additions Ltd.	NCD & Bonds	Petrochemicals	AA+	CRISIL	253.36	0.36%	2.50 k
Bond - ONGC Petro-Additions Ltd.	NCD & Bonds	Petrochemicals	AA+	CRISIL	251.91	0.36%	2.50 k
Bond - Shivshakti Securitisation Trust	PTC	Ptc	AAA	CRISIL	254.77	0.36%	25.00
Bond - Siddhivinayak Securitisation Trust	PTC	Ptc	AAA	CRISIL	255.10	0.36%	25.00
Bond - Govt of India	GOI	Other			250.50	0.36%	25.00 L
Bond - Power Finance Corporation Ltd.	NCD & Bonds	Financial institution	AAA	CRISIL	208.43	0.30%	2.00 k
Bond - Power Finance Corporation Ltd.	NCD & Bonds	Financial institution	AAA	CRISIL	208.32	0.30%	2.00 k
Bond - Power Finance Corporation Ltd.	NCD & Bonds	Financial institution	AAA	CRISIL	207.57	0.30%	2.00 k
Bond - Power Finance Corporation Ltd.	NCD & Bonds	Financial institution	AAA	CRISIL	207.99	0.30%	2.00 k
Bond - Power Finance Corporation Ltd.	NCD & Bonds	Financial institution	AAA	CRISIL	204.43	0.29%	2.00 k
Bond - IndiGrid Infrastructure Trust	NCD & Bonds	Power - transmission	AAA	CRISIL	199.82	0.28%	200.00
Bond - JM Financial Asset Reconstruction Co.	NCD & Bonds	Financial institution	LAA-	ICRA	200.07	0.28%	200.00
Bond - VAJRA 006 Trust	PTC	Ptc	LAA+	ICRA	151.18	0.22%	1.50 k
Bond - Rural Electrification Corporation Limited	NCD & Bonds	Financial institution	AAA	CRISIL	105.71	0.15%	100.00
Bond - Rural Electrification Corporation Limited	NCD & Bonds	Financial institution	AAA	CRISIL	103.48	0.15%	100.00
Bond - National Thermal Power Corporation Ltd.	NCD & Bonds	Power generation	AAA	CRISIL	100.84	0.14%	100.00
Bond - Govt of India	GOI	Other			99.92	0.14%	10.00 L
Bond - Govt of India	GOI	Other			11.96	0.02%	1.16 L

Name	Type of Instrument	Weight (%)
TREPS	TREPS	3.44%
Net Receivables	Net Receivables	3.17%
Indus Infra Trust	InvITs	2.13%
Embassy Office Parks Reit	InvITs	1.04%
Capital Infra Trust	InvITs	0.54%
Powergrid Infrastructure Investment Trust	InvITs	0.30%

HDFC Credit Risk Debt Fund - Direct Plan - IDCW - Quarterly

Portfolio Summary (as on 31st Oct,2025)

Debt holding in Portfolio (as on 31st Oct,2025)

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