Axis Balanced Advantage Fund vs Axis Multi Asset Allocation Fund
Direct Plan, Growth option · Data as on 30-10-2026
Axis Balanced Advantage Fund is a Balanced Advantage fund and Axis Multi Asset Allocation Fund is a Multi Asset fund. In the 3 years to 30-10-2026, Axis Balanced Advantage Fund (Direct) returned 11.5% a year and Axis Multi Asset Allocation Fund (Direct) returned 13.6% a year. Axis Balanced Advantage Fund charges 1.00% a year and Axis Multi Asset Allocation Fund 1.20% (Direct plans). Their portfolios overlap 42.8%: they hold 57 of the same securities.
Axis Balanced Advantage Fund
Balanced Advantage
- 3 year return
- 11.5%
- Expense ratio
- 1.00%
- NAV
- ₹23.69
Axis Multi Asset Allocation Fund
Multi Asset
- 3 year return
- 13.6%
- Expense ratio
- 1.20%
- NAV
- ₹50.91
Which is better, Axis Balanced Advantage or Axis 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.
- Axis Balanced Advantage returned more over 5 years: 9.1% a year against 8.2%.
- Axis Multi Asset Allocation returned more over 3 years: 13.6% a year against 11.5%.
- Axis Balanced Advantage costs less: 1.00% a year against 1.20% (Direct plans).
- Axis Balanced Advantage swung less over 3 years: a standard deviation of 8.0% a year against 10.7%.
- Axis Balanced Advantage fell less in its worst fall since 07-08-2017: −17.2% against −27.4%.
- Axis Balanced Advantage holds more in large companies: 58.2% of the fund in large caps against 43.6%.
- Axis Balanced Advantage is the larger fund: ₹3,651 Cr against ₹2,616 Cr.
- Their portfolios overlap 42.8%: 57 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 | Axis Balanced Advantage Fund | Axis Multi Asset Allocation Fund |
|---|---|---|
| Fund house | Axis Mutual Fund | Axis Mutual Fund |
| Category | Balanced Advantage | Multi Asset |
| AUM | ₹3,651 Cr (30-09-2026) | ₹2,616 Cr (30-09-2026) |
| NAV | ₹23.69 (Direct) | ₹50.91 (Direct) |
| Expense ratio (Direct) | 1.00% | 1.20% |
| Expense ratio (Regular) | 2.18% | 2.27% |
| Riskometer | Very High | Very High |
| Benchmark | NIFTY 50 Hybrid Composite Debt 50:50 Index | Nifty 500 TRI Index (65%) + Nifty Composite Debt Index (20%) + Domestic Price of Physical Gold (7.5%) + Domestic Price o |
| Launch date | 01-08-2017 | 23-08-2010 |
| Minimum investment | ₹100 | ₹100 |
| Lock in | None | None |
| Fund managers | Jayesh Sundar, Devang Shah, Hardik Shah | Ashish Naik, Devang Shah, Hardik Shah, Aditya Pagaria, Pratik Tibrewal, Krishnaa N, Akhil Thakker |
| Exit load | Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 12 months. | Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 12 months. |
Axis Balanced Advantage vs Axis 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 |
|---|---|---|---|---|---|---|---|
| Axis Balanced Advantage Fund (Direct) | +0.59% | −2.63% | +0.25% | −1.41% | +11.50% | +9.11% | -- |
| Axis Multi Asset Allocation Fund (Direct) | −1.00% | −2.70% | −0.28% | +2.01% | +13.55% | +8.22% | +11.23% |
| Balanced Advantage average | −0.55% | −2.88% | +0.08% | −2.08% | +9.14% | +8.35% | -- |
| Multi Asset average | −1.71% | −3.33% | −1.78% | +2.00% | +14.20% | +12.56% | +12.92% |
Category average: the average of the 38 Balanced Advantage funds and the 37 Multi Asset funds, same plan type.
Axis Balanced Advantage vs Axis Multi Asset Allocation: Year-wise Returns
| Year | Balanced AdvantageAxis Balanced Advantage | Multi Asset AllocationAxis Multi Asset Allocation |
|---|---|---|
| 2026to date | −2.35% | −0.94% |
| 2025 | +8.16% | +16.47% |
| 2024 | +18.99% | +16.48% |
| 2023 | +21.46% | +14.36% |
| 2022 | +0.91% | −4.31% |
| 2021 | +17.23% | +24.87% |
Axis Balanced Advantage vs Axis Multi Asset Allocation: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 1,544 of them, one for each trading day from 07-08-2020 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.
Axis Balanced Advantage Fund (Direct)
Axis Multi Asset Allocation Fund (Direct)
to
Feb 2021Feb 2019
to
Feb 2022Mar 2020
to
Mar 2023Apr 2021
to
Apr 2024May 2022
to
May 2025May 2023
to
May 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Axis Balanced Advantage | 0.0 | 0.2 | 27.3 | 57.6 | 14.9 | 0.0 | 0.0 | 12.0% | 12.7% | 4.5% | 17.9% |
| Axis Multi Asset Allocation | 0.0 | 0.0 | 13.9 | 52.3 | 27.7 | 6.0 | 0.0 | 13.8% | 13.7% | 6.3% | 24.1% |
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 07-08-2017. Past returns do not promise future returns.
Axis Balanced Advantage vs Axis 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 07-08-2017 to 30-10-2026: 111 instalments, ₹11,10,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Axis Balanced AdvantageAxis Balanced Advantage Fund (Direct) | ₹11,10,000 | ₹17,99,570 | ₹6,89,570 | 10.1% |
| Axis Multi Asset AllocationAxis Multi Asset Allocation Fund (Direct) | ₹11,10,000 | ₹19,53,766 | ₹8,43,766 | 11.8% |
Axis Balanced AdvantageAxis Balanced Advantage Fund (Direct)
Axis Multi Asset AllocationAxis 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.
Axis Balanced Advantage vs Axis Multi Asset Allocation: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Axis Balanced Advantage Fund (Direct) | Axis Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | −1.41% | +2.01% |
| Standard deviation | 8.19% | 12.66% |
| Sharpe ratio | -0.81 | -0.25 |
| Sortino ratio | -1.10 | -0.34 |
| Maximum drawdown | −7.8% (30-03-2026) | −12.1% (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 | Axis Balanced Advantage Fund (Direct) | Axis Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.50% | +13.55% |
| Standard deviation | 8.03% | 10.70% |
| Sharpe ratio | 0.68 | 0.70 |
| Sortino ratio | 0.95 | 0.94 |
| Maximum drawdown | −7.8% (30-03-2026) | −12.1% (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 | Axis Balanced Advantage Fund (Direct) | Axis Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.11% | +8.22% |
| Standard deviation | 7.79% | 10.73% |
| Sharpe ratio | 0.42 | 0.23 |
| Sortino ratio | 0.58 | 0.30 |
| Maximum drawdown | −9.6% (17-06-2022) | −17.4% (17-06-2022) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 29-10-2021 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 | Axis Balanced Advantage Fund (Direct) | Axis Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.71% | +10.55% |
| Standard deviation | 8.12% | 10.28% |
| Sharpe ratio | 0.54 | 0.44 |
| Sortino ratio | 0.73 | 0.59 |
| Maximum drawdown | −17.2% (23-03-2020) | −27.4% (23-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 07-08-2017 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.
Axis Balanced Advantage Fund (Direct)
Axis Multi Asset Allocation Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Axis Balanced Advantage Fund (Direct) | −17.2% | 13-02-2020 | 23-03-2020 | 09-10-2020 | 7 months | −3.9% |
| Axis Multi Asset Allocation Fund (Direct) | −27.4% | 13-02-2020 | 23-03-2020 | 09-10-2020 | 7 months | −6.6% |
From daily values since 07-08-2017, 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.
Axis Balanced Advantage Fund (Direct)
Axis 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.
Axis Balanced Advantage Fund (Direct)
Axis Multi Asset Allocation Fund (Direct)
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 5-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Axis Balanced Advantage Fund (Direct)
Axis Multi Asset Allocation Fund (Direct)
Axis Balanced Advantage vs Axis Multi Asset Allocation: Portfolio Overlap
From each fund's latest monthly portfolio: Axis Balanced Advantage Fund, September 2026; Axis Multi Asset Allocation Fund, September 2026
Holdings in common
- Overlap
- 42.8%
- Held by both
- 57
- Only in Axis Balanced Advantage
- 94
- Only in Axis Multi Asset Allocation
- 56
| Security | % of Axis Balanced Advantage | % of Axis Multi Asset Allocation |
|---|---|---|
| ICICI Bank Limited | 5.81% | 5.57% |
| HDFC Bank Limited | 5.65% | 4.23% |
| Reliance Industries Limited | 4.43% | 2.48% |
| Bharti Airtel Limited | 2.38% | 2.79% |
| Larsen & Toubro Limited | 2.20% | 2.13% |
| State Bank of India | 3.26% | 2.08% |
| Mahindra & Mahindra Limited | 2.01% | 1.55% |
| Axis Bank Limited | 1.53% | 2.60% |
| Kotak Mahindra Bank Limited | 2.39% | 1.40% |
| Bajaj Finance Limited | 1.17% | 1.14% |
| NTPC Limited | 1.56% | 0.98% |
| Sun Pharmaceutical Industries Limited | 1.19% | 0.98% |
| Embassy Office Parks REIT | 0.96% | 1.10% |
| United Spirits Limited | 0.81% | 0.72% |
| SBI Life Insurance Company Limited | 0.71% | 1.13% |
| PNB Housing Finance Limited | 0.71% | 0.76% |
| Sona BLW Precision Forgings Limited | 0.76% | 0.68% |
| Tata Consumer Products Limited | 0.62% | 0.77% |
| Titan Company Limited | 0.62% | 1.05% |
| Hindustan Aeronautics Limited | 0.87% | 0.60% |
| Doms Industries Limited | 0.63% | 0.58% |
| Cholamandalam Investment and Finance Company Ltd (27/02/2029) (FRN) | 1.78% | 0.57% |
| Tata Steel Limited | 0.57% | 0.80% |
| Cholamandalam Investment and Finance Company Ltd | 0.57% | 0.66% |
| The Indian Hotels Company Limited | 1.02% | 0.55% |
| Britannia Industries Limited | 0.72% | 0.45% |
| UltraTech Cement Limited | 0.44% | 1.06% |
| Indus Infra Trust | 0.89% | 0.39% |
| 7.69% REC Limited (31/03/2033) | 0.68% | 0.38% |
| Muthoot Finance Limited (26/07/2029) (FRN) | 0.55% | 0.38% |
| Amber Enterprises India Limited | 0.37% | 0.70% |
| Eternal Limited | 1.51% | 0.35% |
| Tech Mahindra Limited | 0.33% | 1.01% |
| Delhivery Limited | 0.32% | 0.48% |
| Knowledge Realty Trust | 0.32% | 1.02% |
| Coforge Limited | 0.32% | 0.57% |
| Torrent Pharmaceuticals Limited | 0.32% | 0.50% |
| InterGlobe Aviation Limited | 0.99% | 0.26% |
| Indo-MIM Limited | 0.25% | 0.96% |
| Bajaj Finserv Limited | 0.22% | 0.21% |
| GE Vernova T&D India Limited | 0.21% | 0.51% |
| Dr. Reddy's Laboratories Limited | 0.23% | 0.20% |
| Vishal Mega Mart Limited | 0.20% | 0.69% |
| Tata Motors Ltd | 0.20% | 0.35% |
| Minda Corporation Limited | 0.20% | 0.62% |
| 8.4% Muthoot Finance Limited (28/08/2028) | 1.36% | 0.19% |
| 8.11% Pilani Investment and Industries Corporation Limited (24/04/2029) | 1.35% | 0.19% |
| 7.81% Uttar Pradesh State Development Loans (19/10/2034) | 0.55% | 0.19% |
| 7.66% Bajaj Housing Finance Limited (20/03/2028) | 0.41% | 0.19% |
| Tata Consultancy Services Limited | 0.19% | 1.19% |
| Fortis Healthcare Limited | 0.18% | 0.49% |
| 7.1% Government of India (08/04/2034) | 0.14% | 0.57% |
| The Federal Bank Limited | 0.13% | 0.19% |
| HCL Technologies Limited | 0.11% | 0.63% |
| Hyundai Motor India Ltd | 0.10% | 0.54% |
| Infosys Limited | 2.20% | 0.09% |
| Info Edge (India) Limited | 0.33% | 0.04% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 42.8% means 42.8% 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 Axis Balanced Advantage Fund
| Security | % of fund |
|---|---|
| Apollo Hospitals Enterprise Limited | 1.83% |
| 7.61% Government of India (09/05/2030) | 1.40% |
| 7.97% Mankind Pharma Limited (16/11/2027) | 1.37% |
| 8.4% Indian Railway Finance Corporation Limited (08/01/2029) | 1.11% |
| The Phoenix Mills Limited | 0.96% |
Largest holdings only in Axis Multi Asset Allocation Fund
| Security | % of fund |
|---|---|
| Axis Gold ETF | 11.78% |
| Axis Silver ETF | 3.34% |
| Cube Highways Trust-InvIT Fund | 1.17% |
| 8.55% Shriram Finance Limited (28/04/2028) | 1.16% |
| 8.45% Adani Airport Holdings Limited (12/02/2029) | 1.13% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Axis Balanced Advantage | Axis Multi Asset Allocation |
|---|---|---|
| Equity | 72.9% | 66.8% |
| Debt | 22.8% | 10.5% |
| Cash and others | 4.3% | 22.7% |
Market cap of stocks
| Market cap | Axis Balanced Advantage | Axis Multi Asset Allocation |
|---|---|---|
| Large Cap | 58.2% | 43.6% |
| Mid Cap | 9.1% | 12.6% |
| Small Cap | 5.3% | 8.7% |
| Not on AMFI's list | 0.3% | 1.9% |
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 | Axis Balanced Advantage | Axis Multi Asset Allocation |
|---|---|---|
| Banks | 19.3% | 17.1% |
| Petroleum Products | 4.8% | 2.5% |
| Finance | 4.3% | 3.7% |
| Automobiles | 4.2% | 2.6% |
| Pharmaceuticals & Biotechnology | 3.1% | 4.0% |
| IT - Software | 3.6% | 3.5% |
| Telecom - Services | 2.8% | 2.8% |
The six largest sectors of each fund's stocks, % of the fund.
Axis Balanced Advantage vs Axis Multi Asset Allocation: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Axis Balanced Advantage Fund | Axis Multi Asset Allocation Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.00% | 1.20% |
| Base expense ratio (Direct) | 0.66% | 0.65% |
| Total expense ratio (Regular) | 2.18% | 2.27% |
| Base expense ratio (Regular) | 1.64% | 1.57% |
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 Axis Balanced Advantage with
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Axis Balanced Advantage Fund vs Axis Multi Asset Allocation Fund: Frequently Asked Questions
What is the difference between Axis Balanced Advantage Fund and Axis Multi Asset Allocation Fund?
Axis Balanced Advantage Fund is a Balanced Advantage fund, Axis Multi Asset Allocation Fund is a Multi Asset fund, run by Axis Mutual Fund. Their portfolios overlap 42.8%. Axis Balanced Advantage Fund charges 1.00% a year and Axis Multi Asset Allocation Fund 1.20%.
Which has given higher returns, Axis Balanced Advantage Fund or Axis Multi Asset Allocation Fund?
Over 1 year: Axis Balanced Advantage Fund −1.41%, Axis Multi Asset Allocation Fund +2.01%. Over 3 years: Axis Balanced Advantage Fund +11.50% a year, Axis Multi Asset Allocation Fund +13.55% a year. Over 5 years: Axis Balanced Advantage Fund +9.11% a year, Axis Multi Asset Allocation Fund +8.22% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Axis Balanced Advantage Fund or Axis Multi Asset Allocation Fund?
Axis Balanced Advantage Fund charges less: 1.00% a year against 1.20%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Axis Balanced Advantage Fund and Axis Multi Asset Allocation Fund overlap?
42.8%. They hold 57 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, RELIANCE. From each fund's latest monthly portfolio.
Which is riskier, Axis Balanced Advantage Fund or Axis Multi Asset Allocation Fund?
On SEBI's riskometer, Axis Balanced Advantage Fund is rated Very High and Axis Multi Asset Allocation Fund Very High. Over 3 years, the standard deviation of daily returns was 8.03% and 10.70% a year.
Which is better for SIP, Axis Balanced Advantage Fund or Axis Multi Asset Allocation Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,67,696 in Axis Balanced Advantage Fund (XIRR 9.0% a year) and ₹7,88,603 in Axis Multi Asset Allocation Fund (XIRR 10.1% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Axis Balanced Advantage Fund and Axis Multi Asset Allocation Fund?
Yes. 42.8% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Axis Balanced Advantage Fund and Axis Multi Asset Allocation Fund?
Axis Balanced Advantage Fund: Jayesh Sundar, Devang Shah, Hardik Shah. Axis Multi Asset Allocation Fund: Ashish Naik, Devang Shah, Hardik Shah, Aditya Pagaria, Pratik Tibrewal, Krishnaa N, Akhil Thakker.
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.