Aditya Birla Sun Life Msci India ETF vs Mahindra Manulife Multi Asset Allocation Fund
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
Aditya Birla Sun Life Msci India ETF is an ETF fund and Mahindra Manulife Multi Asset Allocation Fund is a Multi Asset fund. Aditya Birla Sun Life Msci India ETF charges 0.22% a year and Mahindra Manulife Multi Asset Allocation Fund 0.58%. Their portfolios overlap 32.7%: they hold 37 of the same securities.
Aditya Birla Sun Life Msci India ETF
ETF
- Expense ratio
- 0.22%
- NAV
- ₹27.93
Mahindra Manulife Multi Asset Allocation Fund
Multi Asset
- Expense ratio
- 0.58%
- NAV
- ₹13.92
Which is better, Aditya Birla Sun Life Msci India ETF or Mahindra Manulife Multi Asset Allocation? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Aditya Birla Sun Life Msci India ETF costs less: 0.22% a year against 0.58%.
- Mahindra Manulife Multi Asset Allocation fell less in its worst fall since 20-02-2026: −8.1% against −12.5%.
- Aditya Birla Sun Life Msci India ETF holds more in large companies: 80.6% of the fund in large caps against 35.1%.
- Mahindra Manulife Multi Asset Allocation is the larger fund: ₹1,214 Cr against ₹11 Cr.
- Their portfolios overlap 32.7%: 37 of the same holdings.
Past returns do not promise future returns. This page is information, not investment advice.
Key facts
From each fund's scheme summary document and AMFI
| Fact | Aditya Birla Sun Life Msci India ETF | Mahindra Manulife Multi Asset Allocation Fund |
|---|---|---|
| Fund house | Aditya Birla Sun Life Mutual Fund | Mahindra Manulife Mutual Fund |
| Category | ETF | Multi Asset |
| AUM | ₹11 Cr (30-09-2026) | ₹1,214 Cr (30-09-2026) |
| NAV | ₹27.93 | ₹13.92 (Direct) |
| Expense ratio (Direct) | Not available | 0.58% |
| Expense ratio (Regular) | Not available | 1.89% |
| Riskometer | Very High | Very High |
| Benchmark | MSCI India Index | NIFTY 500 TRI 45% + CRISIL Composite Bond Index 40% + Domestic Price of Physical Gold 10% + Domestic Price of Silver 5% |
| Launch date | 17-02-2026 | 13-03-2024 |
| Minimum investment | For Subscription / Redemption of units directly with Mutual Fund: Subscription / Redemption facility directly with the Mutual Fund would be restricted to Market Makers and Large Investors. Units of the Scheme may be subscribed to / redeemed only in Creati | ₹1,000 |
| Lock in | None | None |
| Fund managers | Priya Sridhar, Mehul Dama | Renjith Sivaram, Rahul Pal, Kush Sonigara |
| Exit load | NIL | Exit load of 0.5%, if redeemed within 3 months. |
Aditya Birla Sun Life Msci India ETF vs Mahindra Manulife Multi Asset Allocation: Returns Comparison
Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.
| Fund | 1M | 3M | 6M | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|---|---|---|
| Aditya Birla Sun Life Msci India ETF | +0.29% | −5.96% | −3.50% | -- | -- | -- | -- |
| Mahindra Manulife Multi Asset Allocation Fund (Direct) | −1.20% | −2.61% | +0.40% | +4.23% | -- | -- | -- |
| Multi Asset average | −1.71% | −3.33% | −1.78% | +2.00% | -- | -- | -- |
Category average: the average of the 37 Multi Asset funds, same plan type.
Aditya Birla Sun Life Msci India ETF vs Mahindra Manulife Multi Asset Allocation: Year-wise Returns
| Year | Aditya Birla Sun Life Msci India ETFAditya Birla Sun Life Msci India ETF | Mahindra Manulife Multi Asset AllocationMahindra Manulife Multi Asset Allocation |
|---|---|---|
| 2026to date | -- | +1.10% |
| 2025 | -- | +22.74% |
Aditya Birla Sun Life Msci India ETF vs Mahindra Manulife Multi Asset Allocation: Rolling Returns
Every holding period of both funds
Aditya Birla Sun Life Msci India ETF vs Mahindra Manulife Multi Asset Allocation: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Aditya Birla Sun Life Msci India ETF | Mahindra Manulife Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | −10.53% | +13.34% |
| Standard deviation | 15.37% | 8.92% |
| Sharpe ratio | -1.03 | 0.83 |
| Sortino ratio | -1.35 | 1.13 |
| Maximum drawdown | −12.5% (31-03-2026) | −9.5% (23-03-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 20-02-2026 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
Drawdowns
How far below its previous high each one was on every day: the falls an investor had to sit through. 0% means it was at a new high.
Aditya Birla Sun Life Msci India ETF
Mahindra Manulife Multi Asset Allocation Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Aditya Birla Sun Life Msci India ETF | −12.5% | 23-02-2026 | 31-03-2026 | 03-08-2026 | 4 months | −7.9% |
| Mahindra Manulife Multi Asset Allocation Fund (Direct) | −8.1% | 23-02-2026 | 23-03-2026 | 22-06-2026 | 3 months | −5.2% |
From daily values since 20-02-2026, the first day every fund has.
Aditya Birla Sun Life Msci India ETF vs Mahindra Manulife Multi Asset Allocation: Portfolio Overlap
From each fund's latest monthly portfolio: Aditya Birla Sun Life Msci India ETF, September 2026; Mahindra Manulife Multi Asset Allocation Fund, September 2026
Holdings in common
- Overlap
- 32.7%
- Held by both
- 37
- Only in Aditya Birla Sun Life Msci India ETF
- 128
- Only in Mahindra Manulife Multi Asset Allocation
- 44
| Security | % of Aditya Birla Sun Life Msci India ETF | % of Mahindra Manulife Multi Asset Allocation |
|---|---|---|
| HDFC Bank Ltd. | 6.44% | 3.50% |
| ICICI Bank Ltd. | 5.59% | 3.39% |
| Bharti Airtel Ltd. | 3.93% | 2.08% |
| Reliance Industries Ltd. | 5.44% | 1.99% |
| State Bank of India | 1.41% | 1.62% |
| Kotak Mahindra Bank Ltd. | 1.82% | 1.40% |
| Axis Bank Ltd. | 2.25% | 1.24% |
| Sun Pharmaceutical Industries Ltd. | 1.30% | 1.05% |
| Infosys Ltd. | 2.41% | 0.99% |
| Larsen & Toubro Ltd. | 2.02% | 0.98% |
| Eternal Ltd. | 1.22% | 0.98% |
| NTPC Ltd. | 1.12% | 0.94% |
| Tata Steel Ltd. | 1.10% | 0.92% |
| Divi's Laboratories Ltd. | 0.88% | 2.02% |
| Bajaj Finance Ltd. | 1.91% | 0.85% |
| Mahindra & Mahindra Ltd. | 2.05% | 0.81% |
| Shriram Finance Ltd. | 1.11% | 0.71% |
| Grasim Industries Ltd. | 0.66% | 0.72% |
| Tech Mahindra Ltd. | 0.66% | 1.01% |
| Hindustan Aeronautics Ltd. | 0.62% | 0.73% |
| Power Grid Corporation of India Ltd. | 0.87% | 0.60% |
| TVS Motor Company Ltd. | 0.78% | 0.60% |
| SBI Life Insurance Co. Ltd. | 0.61% | 0.56% |
| Bharat Electronics Ltd. | 1.07% | 0.55% |
| Hindalco Industries Ltd. | 0.97% | 0.53% |
| Tata Motors Ltd. | 0.62% | 0.53% |
| Hindustan Unilever Ltd. | 1.06% | 0.49% |
| Oil & Natural Gas Corporation Ltd. | 0.46% | 0.59% |
| Tata Power Company Ltd. | 0.43% | 0.89% |
| Persistent Systems Ltd. | 0.43% | 1.03% |
| Tata Consumer Products Ltd. | 0.41% | 0.53% |
| National Aluminium Company Ltd. | 0.22% | 0.54% |
| Union Bank of India | 0.21% | 0.62% |
| L&T Finance Ltd. | 0.17% | 0.67% |
| Coromandel International Ltd. | 0.17% | 0.89% |
| Shree Cement Ltd. | 0.15% | 0.57% |
| Oil India Ltd. | 0.15% | 0.54% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 32.7% means 32.7% of each fund's money sits in positions the other also holds. Matched by ISIN. Cash and hedged positions are left out.
Largest holdings only in Aditya Birla Sun Life Msci India ETF
| Security | % of fund |
|---|---|
| Tata Consultancy Services Ltd. | 1.33% |
| Titan Company Ltd. | 1.30% |
| Maruti Suzuki India Ltd. | 1.13% |
| Ultratech Cement Ltd. | 0.90% |
| HCL Technologies Ltd. | 0.86% |
Largest holdings only in Mahindra Manulife Multi Asset Allocation Fund
| Security | % of fund |
|---|---|
| ICICI Prudential Gold ETF | 12.32% |
| Mahindra Manulife Liquid Fund -Direct Plan -Growth | 4.94% |
| Brookfield India Real Estate Trust | 3.36% |
| 8.42% Muthoot Finance Limited 2029 (FRN) | 3.09% |
| Nippon India Silver ETF | 2.87% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Aditya Birla Sun Life Msci India ETF | Mahindra Manulife Multi Asset Allocation |
|---|---|---|
| Equity | 99.8% | 52.2% |
| Debt | 0.0% | 19.4% |
| Cash and others | 0.2% | 28.4% |
Market cap of stocks
| Market cap | Aditya Birla Sun Life Msci India ETF | Mahindra Manulife Multi Asset Allocation |
|---|---|---|
| Large Cap | 80.6% | 35.1% |
| Mid Cap | 19.2% | 6.7% |
| Small Cap | 0.0% | 10.4% |
Share of the whole fund. Groups follow AMFI's latest list: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.
Largest sectors
| Sector | Aditya Birla Sun Life Msci India ETF | Mahindra Manulife Multi Asset Allocation |
|---|---|---|
| Banks | 20.3% | 11.8% |
| IT - Software | 6.6% | 3.0% |
| Petroleum Products | 6.4% | 2.0% |
| Finance | 6.3% | 2.2% |
| Automobiles | 6.2% | 2.0% |
| Pharmaceuticals & Biotechnology | 5.6% | 4.6% |
| Power | 3.7% | 2.4% |
| Industrial Products | 1.3% | 3.4% |
| Retailing | 3.4% | 2.3% |
The six largest sectors of each fund's stocks, % of the fund.
Aditya Birla Sun Life Msci India ETF vs Mahindra Manulife Multi Asset Allocation: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Aditya Birla Sun Life Msci India ETF | Mahindra Manulife Multi Asset Allocation Fund |
|---|---|---|
| Total expense ratio (Direct) | Not available | 0.58% |
| Base expense ratio (Direct) | 0.00% | 0.41% |
| Total expense ratio (Regular) | Not available | 1.89% |
| Base expense ratio (Regular) | 0.16% | 1.56% |
The expense ratio comes out of the fund's assets every day, so every return on this page is already after it. Base expense ratio: the fund house's own fee. The total adds brokerage, transaction costs, and levies with GST.
More comparisons
Each fund against the others of its category
Compare Mahindra Manulife Multi Asset Allocation with
- Mahindra Manulife Multi Asset Allocation vs Quant Multi Asset Allocation
- Mahindra Manulife Multi Asset Allocation vs Nippon India Multi Asset Allocation
- Mahindra Manulife Multi Asset Allocation vs DSP Multi Asset Allocation
- Mahindra Manulife Multi Asset Allocation vs Kotak Multi Asset Allocation
- Mahindra Manulife Multi Asset Allocation vs WhiteOak Capital Multi Asset Allocation
Aditya Birla Sun Life Msci India ETF vs Mahindra Manulife Multi Asset Allocation Fund: Frequently Asked Questions
What is the difference between Aditya Birla Sun Life Msci India ETF and Mahindra Manulife Multi Asset Allocation Fund?
Aditya Birla Sun Life Msci India ETF is an ETF fund, Mahindra Manulife Multi Asset Allocation Fund is a Multi Asset fund, run by Aditya Birla Sun Life Mutual Fund and Mahindra Manulife Mutual Fund. Their portfolios overlap 32.7%. Aditya Birla Sun Life Msci India ETF charges 0.22% a year and Mahindra Manulife Multi Asset Allocation Fund 0.58%.
Which has the lower expense ratio, Aditya Birla Sun Life Msci India ETF or Mahindra Manulife Multi Asset Allocation Fund?
Aditya Birla Sun Life Msci India ETF charges less: 0.22% a year against 0.58%. These are the total expense ratios reported to AMFI.
How much do Aditya Birla Sun Life Msci India ETF and Mahindra Manulife Multi Asset Allocation Fund overlap?
32.7%. They hold 37 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, BHARTIARTL. From each fund's latest monthly portfolio.
Which is riskier, Aditya Birla Sun Life Msci India ETF or Mahindra Manulife Multi Asset Allocation Fund?
On SEBI's riskometer, Aditya Birla Sun Life Msci India ETF is rated Very High and Mahindra Manulife Multi Asset Allocation Fund Very High. Over their common history, the standard deviation of daily returns was 15.37% and 8.92% a year.
Can I invest in both Aditya Birla Sun Life Msci India ETF and Mahindra Manulife Multi Asset Allocation Fund?
Yes. 32.7% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Aditya Birla Sun Life Msci India ETF and Mahindra Manulife Multi Asset Allocation Fund?
Aditya Birla Sun Life Msci India ETF: Priya Sridhar, Mehul Dama. Mahindra Manulife Multi Asset Allocation Fund: Renjith Sivaram, Rahul Pal, Kush Sonigara.
Sources: NAV and expense ratio from AMFI. Holdings from each fund house's monthly portfolio statement. Fund facts from each scheme summary document.
This page is information, not investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Past returns do not promise future returns. Figures come from AMFI, NSE, BSE and each fund house's own documents.