Aditya Birla Sun Life Multi Asset Allocation Fund vs HDFC Multi Asset Allocation Fund
Direct Plan, Growth option · Data as on 30-10-2026
Aditya Birla Sun Life Multi Asset Allocation Fund and HDFC Multi Asset Allocation Fund are both Multi Asset funds. In the 3 years to 30-10-2026, Aditya Birla Sun Life Multi Asset Allocation Fund (Direct) returned 15.3% a year and HDFC Multi Asset Allocation Fund (Direct) returned 11.1% a year. Aditya Birla Sun Life Multi Asset Allocation Fund charges 0.67% a year and HDFC Multi Asset Allocation Fund 1.01% (Direct plans). Their portfolios overlap 28.0%: they hold 33 of the same securities.
Aditya Birla Sun Life Multi Asset Allocation Fund
Multi Asset
- 3 year return
- 15.3%
- Expense ratio
- 0.67%
- NAV
- ₹17.00
HDFC Multi Asset Allocation Fund
Multi Asset
- 3 year return
- 11.1%
- Expense ratio
- 1.01%
- NAV
- ₹81.63
Which is better, Aditya Birla Sun Life Multi Asset Allocation or HDFC 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 Multi Asset Allocation returned more over 3 years: 15.3% a year against 11.1%.
- Aditya Birla Sun Life Multi Asset Allocation returned more over 1 year: 4.2% against −2.3%.
- Aditya Birla Sun Life Multi Asset Allocation costs less: 0.67% a year against 1.01% (Direct plans).
- HDFC Multi Asset Allocation swung less over 3 years: a standard deviation of 7.6% a year against 10.5%.
- HDFC Multi Asset Allocation fell less in its worst fall since 02-02-2023: −8.9% against −12.8%.
- HDFC Multi Asset Allocation holds more in large companies: 56.0% of the fund in large caps against 39.0%.
- Aditya Birla Sun Life Multi Asset Allocation is the larger fund: ₹7,478 Cr against ₹5,782 Cr.
- Their portfolios overlap 28.0%: 33 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 Multi Asset Allocation Fund | HDFC Multi Asset Allocation Fund |
|---|---|---|
| Fund house | Aditya Birla Sun Life Mutual Fund | HDFC Mutual Fund |
| Category | Multi Asset | Multi Asset |
| AUM | ₹7,478 Cr (30-09-2026) | ₹5,782 Cr (30-09-2026) |
| NAV | ₹17.00 (Direct) | ₹81.63 (Direct) |
| Expense ratio (Direct) | 0.67% | 1.01% |
| Expense ratio (Regular) | 1.78% | 2.02% |
| Riskometer | Very High | Very High |
| Benchmark | 65% BSE 200 + 25% CRISIL Short Term Bond Index + 5% of Domestic prices of Gold + 5% of Domestic prices of Silver | 65% Nifty 50 TRI + 22.5% Nifty Composite Debt Index + 10% Domestic Price of Gold + 2.5% Domestic Price of Silver |
| Launch date | 31-01-2023 | 17-08-2005 |
| Minimum investment | ₹500 | ₹100 |
| Lock in | None | None |
| Fund managers | Dhaval Gala, Bhupesh Bameta, Sachin Wankhede | Ihab Dalwai, Anil Bamboli, Bhagyesh Kagalkar, Nandita Menezes, – Mr. Arun Agarwal, Gopal Agrawal |
| Exit load | Exit Load for units in excess of 30% of the investment,1% will be charged for redemption within 1 year. | Exit Load for units in excess of 15% of the investment,1% will be charged for redemption within 12 months. |
Aditya Birla Sun Life Multi Asset Allocation vs HDFC 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 Multi Asset Allocation Fund (Direct) | −1.95% | −3.96% | −0.68% | +4.15% | +15.35% | -- | -- |
| HDFC Multi Asset Allocation Fund (Direct) | −0.73% | −3.58% | −1.86% | −2.29% | +11.12% | +10.21% | +10.99% |
| Multi Asset average | −1.71% | −3.33% | −1.78% | +2.00% | +14.20% | +12.56% | +12.92% |
Category average: the average of the 37 Multi Asset funds, same plan type.
Aditya Birla Sun Life Multi Asset Allocation vs HDFC Multi Asset Allocation: Year-wise Returns
| Year | Aditya Birla Sun LifeAditya Birla Sun Life Multi Asset Allocation | HDFCHDFC Multi Asset Allocation |
|---|---|---|
| 2026to date | −0.96% | −3.74% |
| 2025 | +20.35% | +14.45% |
| 2024 | +17.73% | +14.82% |
| 2023 | -- | +19.43% |
| 2022 | -- | +5.77% |
| 2021 | -- | +19.65% |
Aditya Birla Sun Life Multi Asset Allocation vs HDFC Multi Asset Allocation: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 184 of them, one for each trading day from 02-02-2026 to 30-10-2026: the yearly return (CAGR) of each, plotted on the day it ended. One lucky or unlucky start day cannot flatter or hide a fund.
Aditya Birla Sun Life Multi Asset Allocation Fund (Direct)
HDFC Multi Asset Allocation Fund (Direct)
to
Feb 2026Apr 2023
to
Apr 2026May 2023
to
May 2026Jul 2023
to
Jul 2026Aug 2023
to
Aug 2026Oct 2023
to
Oct 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Aditya Birla Sun Life Multi Asset Allocation | 0.0 | 0.0 | 0.0 | 2.2 | 84.2 | 13.6 | 0.0 | 17.7% | 17.5% | 14.5% | 21.3% |
| HDFC Multi Asset Allocation | 0.0 | 0.0 | 0.0 | 78.7 | 21.3 | 0.0 | 0.0 | 13.7% | 13.4% | 10.7% | 17.4% |
The table shows the % of periods in each return band; a darker cell holds more of them. Lumpsum: the yearly rate (CAGR) from a period's first NAV to its last. SIP: the XIRR of the monthly instalments. Every fund is measured over the days all of them have, from 02-02-2023. Past returns do not promise future returns.
Aditya Birla Sun Life Multi Asset Allocation vs HDFC Multi Asset Allocation: SIP and Lumpsum Returns
What the same monthly or one-time investment would be worth in each fund today, from their own NAV history
Growth of an investment
₹10,000 on the first trading day of every month, from 02-02-2023 to 30-10-2026: 45 instalments, ₹4,50,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Aditya Birla Sun Life Multi Asset AllocationAditya Birla Sun Life Multi Asset Allocation Fund (Direct) | ₹4,50,000 | ₹5,61,257 | ₹1,11,257 | 11.8% |
| HDFC Multi Asset AllocationHDFC Multi Asset Allocation Fund (Direct) | ₹4,50,000 | ₹5,17,935 | ₹67,935 | 7.5% |
Aditya Birla Sun Life Multi Asset AllocationAditya Birla Sun Life Multi Asset Allocation Fund (Direct)
HDFC Multi Asset AllocationHDFC Multi Asset Allocation Fund (Direct)
Amount invested
From each plan's published NAV (Growth option), over the same days. Return a year: XIRR for a SIP, CAGR for a lumpsum, shown for a year or more. It does not include exit load, stamp duty or tax. Past returns do not promise future returns.
Aditya Birla Sun Life Multi Asset Allocation vs HDFC 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 Multi Asset Allocation Fund (Direct) | HDFC Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +4.15% | −2.29% |
| Standard deviation | 12.82% | 9.51% |
| Sharpe ratio | -0.09 | -0.79 |
| Sortino ratio | -0.11 | -1.05 |
| Maximum drawdown | −12.8% (23-03-2026) | −8.9% (23-03-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 30-10-2025 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.
| Measure | Aditya Birla Sun Life Multi Asset Allocation Fund (Direct) | HDFC Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.35% | +11.12% |
| Standard deviation | 10.46% | 7.64% |
| Sharpe ratio | 0.89 | 0.67 |
| Sortino ratio | 1.22 | 0.91 |
| Maximum drawdown | −12.8% (23-03-2026) | −8.9% (23-03-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 30-10-2023 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.
| Measure | Aditya Birla Sun Life Multi Asset Allocation Fund (Direct) | HDFC Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.27% | +11.06% |
| Standard deviation | 9.73% | 7.94% |
| Sharpe ratio | 0.94 | 0.63 |
| Sortino ratio | 1.28 | 0.85 |
| Maximum drawdown | −12.8% (23-03-2026) | −27.1% (23-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 02-02-2023 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 Multi Asset Allocation Fund (Direct)
HDFC 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 Multi Asset Allocation Fund (Direct) | −12.8% | 29-01-2026 | 23-03-2026 | 12-08-2026 | 5 months | −6.8% |
| HDFC Multi Asset Allocation Fund (Direct) | −8.9% | 29-01-2026 | 23-03-2026 | Not yet | -- | −6.2% |
From daily values since 02-02-2023, the first day every fund has.
Rolling standard deviation
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 1-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Aditya Birla Sun Life Multi Asset Allocation Fund (Direct)
HDFC Multi Asset Allocation Fund (Direct)
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 3-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Aditya Birla Sun Life Multi Asset Allocation Fund (Direct)
HDFC Multi Asset Allocation Fund (Direct)
Aditya Birla Sun Life Multi Asset Allocation vs HDFC Multi Asset Allocation: Portfolio Overlap
From each fund's latest monthly portfolio: Aditya Birla Sun Life Multi Asset Allocation Fund, September 2026; HDFC Multi Asset Allocation Fund, September 2026
Holdings in common
- Overlap
- 28.0%
- Held by both
- 33
- Only in Aditya Birla Sun Life Multi Asset Allocation
- 80
- Only in HDFC Multi Asset Allocation
- 80
| Security | % of Aditya Birla Sun Life Multi Asset Allocation | % of HDFC Multi Asset Allocation |
|---|---|---|
| ICICI Bank Ltd. | 3.78% | 4.74% |
| Axis Bank Ltd. | 2.74% | 2.54% |
| Reliance Industries Ltd. | 1.84% | 4.86% |
| Bharti Airtel Ltd. | 1.76% | 2.89% |
| HDFC Bank Ltd. | 1.49% | 6.86% |
| Kotak Mahindra Bank Ltd. | 1.31% | 2.60% |
| Infosys Ltd. | 1.58% | 1.29% |
| Larsen & Toubro Ltd. | 1.08% | 1.17% |
| State Bank of India | 0.99% | 1.24% |
| Hindustan Unilever Ltd. | 1.34% | 0.93% |
| Eternal Ltd. | 1.58% | 0.89% |
| HDFC Life Insurance Company Ltd. | 0.71% | 1.01% |
| NTPC Ltd. | 0.68% | 1.87% |
| Embassy Office Parks Reit | 1.01% | 0.68% |
| Tata Steel Ltd. | 0.63% | 1.21% |
| Bajaj Auto Ltd. | 0.61% | 0.66% |
| Apollo Hospitals Enterprise Ltd. | 0.61% | 0.66% |
| Brookfield India Real Estate Trust | 0.73% | 0.58% |
| ICICI Lombard General Insurance Company Ltd. | 0.55% | 1.15% |
| Sun Pharmaceutical Industries Ltd. | 0.54% | 1.72% |
| United Spirits Ltd. | 0.55% | 0.54% |
| Tech Mahindra Ltd. | 1.26% | 0.53% |
| Bajaj Finserv Ltd. | 0.52% | 1.07% |
| Bajaj Finance Ltd. | 1.05% | 0.43% |
| ITC Ltd. | 0.41% | 0.68% |
| Godrej Consumer Products Ltd. | 0.40% | 0.95% |
| Nexus Select Trust | 1.05% | 0.38% |
| Hindalco Industries Ltd. | 1.03% | 0.33% |
| Oil & Natural Gas Corporation Ltd. | 0.31% | 0.98% |
| Mahindra & Mahindra Ltd. | 0.89% | 0.25% |
| Star Health & Allied Insurance Co. Ltd. | 0.58% | 0.23% |
| Cube Highways Trust | 0.97% | 0.17% |
| Raajmarg Infra Investment Trust | 0.24% | 0.03% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 28.0% means 28.0% 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 Multi Asset Allocation Fund
| Security | % of fund |
|---|---|
| Aditya Birla Sun Life Gold ETF | 11.32% |
| Aditya Birla Sun Life Silver ETF | 2.41% |
| Sedemac Mechatronics Ltd. | 2.02% |
| Meesho Ltd. | 1.91% |
| Sansera Engineering Ltd. | 1.73% |
Largest holdings only in HDFC Multi Asset Allocation Fund
| Security | % of fund |
|---|---|
| HDFC Gold Exchange Traded Fund | 11.71% |
| Maruti Suzuki India Limited | 1.94% |
| HDFC Silver ETF | 1.81% |
| Divis Laboratories Ltd. | 1.61% |
| Muthoot Finance Ltd. | 1.29% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Aditya Birla Sun Life Multi Asset Allocation | HDFC Multi Asset Allocation |
|---|---|---|
| Equity | 65.2% | 69.1% |
| Debt | 12.3% | 11.2% |
| Cash and others | 22.5% | 19.7% |
Market cap of stocks
| Market cap | Aditya Birla Sun Life Multi Asset Allocation | HDFC Multi Asset Allocation |
|---|---|---|
| Large Cap | 39.0% | 56.0% |
| Mid Cap | 17.3% | 5.3% |
| Small Cap | 8.9% | 7.8% |
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 Multi Asset Allocation | HDFC Multi Asset Allocation |
|---|---|---|
| Banks | 12.4% | 18.0% |
| Auto Components | 7.1% | 1.8% |
| Retailing | 6.2% | 0.9% |
| Petroleum Products | 2.8% | 5.4% |
| Automobiles | 1.5% | 5.3% |
| IT - Software | 4.7% | 4.1% |
| Pharmaceuticals & Biotechnology | 3.2% | 4.6% |
| Finance | 3.9% | 2.3% |
| Telecom - Services | 1.8% | 3.5% |
The six largest sectors of each fund's stocks, % of the fund.
Aditya Birla Sun Life Multi Asset Allocation vs HDFC Multi Asset Allocation: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Aditya Birla Sun Life Multi Asset Allocation Fund | HDFC Multi Asset Allocation Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.67% | 1.01% |
| Base expense ratio (Direct) | 0.51% | 0.73% |
| Total expense ratio (Regular) | 1.78% | 2.02% |
| Base expense ratio (Regular) | 1.49% | 1.58% |
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
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Aditya Birla Sun Life Multi Asset Allocation Fund vs HDFC Multi Asset Allocation Fund: Frequently Asked Questions
What is the difference between Aditya Birla Sun Life Multi Asset Allocation Fund and HDFC Multi Asset Allocation Fund?
Both are Multi Asset funds, run by Aditya Birla Sun Life Mutual Fund and HDFC Mutual Fund. Their portfolios overlap 28.0%. Aditya Birla Sun Life Multi Asset Allocation Fund charges 0.67% a year and HDFC Multi Asset Allocation Fund 1.01%.
Which has given higher returns, Aditya Birla Sun Life Multi Asset Allocation Fund or HDFC Multi Asset Allocation Fund?
Over 1 year: Aditya Birla Sun Life Multi Asset Allocation Fund +4.15%, HDFC Multi Asset Allocation Fund −2.29%. Over 3 years: Aditya Birla Sun Life Multi Asset Allocation Fund +15.35% a year, HDFC Multi Asset Allocation Fund +11.12% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Aditya Birla Sun Life Multi Asset Allocation Fund or HDFC Multi Asset Allocation Fund?
Aditya Birla Sun Life Multi Asset Allocation Fund charges less: 0.67% a year against 1.01%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Aditya Birla Sun Life Multi Asset Allocation Fund and HDFC Multi Asset Allocation Fund overlap?
28.0%. They hold 33 of the same securities, the largest shared ones being ICICIBANK, AXISBANK, RELIANCE. From each fund's latest monthly portfolio.
Which is riskier, Aditya Birla Sun Life Multi Asset Allocation Fund or HDFC Multi Asset Allocation Fund?
On SEBI's riskometer, Aditya Birla Sun Life Multi Asset Allocation Fund is rated Very High and HDFC Multi Asset Allocation Fund Very High. Over 3 years, the standard deviation of daily returns was 10.46% and 7.64% a year.
Which is better for SIP, Aditya Birla Sun Life Multi Asset Allocation Fund or HDFC Multi Asset Allocation Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹4,31,680 in Aditya Birla Sun Life Multi Asset Allocation Fund (XIRR 10.0% a year) and ₹4,01,856 in HDFC Multi Asset Allocation Fund (XIRR 5.3% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both Aditya Birla Sun Life Multi Asset Allocation Fund and HDFC Multi Asset Allocation Fund?
Yes. 28.0% 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 Multi Asset Allocation Fund and HDFC Multi Asset Allocation Fund?
Aditya Birla Sun Life Multi Asset Allocation Fund: Dhaval Gala, Bhupesh Bameta, Sachin Wankhede. HDFC Multi Asset Allocation Fund: Ihab Dalwai, Anil Bamboli, Bhagyesh Kagalkar, Nandita Menezes, – Mr. Arun Agarwal, Gopal Agrawal.
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.