Axis Multicap Fund vs Axis Value Fund
Direct Plan, Growth option · Data as on 30-10-2026
Axis Multicap Fund is a Multi Cap fund and Axis Value Fund is a Value and Contra fund. In the 3 years to 30-10-2026, Axis Multicap Fund (Direct) returned 18.7% a year and Axis Value Fund (Direct) returned 17.7% a year. Axis Multicap Fund charges 0.93% a year and Axis Value Fund 0.88% (Direct plans). Their portfolios overlap 64.2%: they hold 69 of the same securities.
Which is better, Axis Multicap or Axis Value? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Axis Multicap returned more over 3 years: 18.7% a year against 17.7%.
- Axis Multicap returned more over 1 year: 3.8% against 1.2%.
- Axis Value costs less: 0.88% a year against 0.93% (Direct plans).
- Axis Value swung less over 3 years: a standard deviation of 14.0% a year against 14.9%.
- Axis Multicap fell less in its worst fall since 23-12-2021: −18.1% against −20.2%.
- Axis Value holds more in large companies: 57.1% of the fund in large caps against 39.1%.
- Axis Multicap is the larger fund: ₹11,972 Cr against ₹1,836 Cr.
- Their portfolios overlap 64.2%: 69 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 Multicap Fund | Axis Value Fund |
|---|---|---|
| Fund house | Axis Mutual Fund | Axis Mutual Fund |
| Category | Multi Cap | Value and Contra |
| AUM | ₹11,972 Cr (30-09-2026) | ₹1,836 Cr (30-09-2026) |
| NAV | ₹20.12 (Direct) | ₹20.68 (Direct) |
| Expense ratio (Direct) | 0.93% | 0.88% |
| Expense ratio (Regular) | 1.99% | 2.22% |
| Riskometer | Very High | Very High |
| Benchmark | NIFTY 500 Multicap 50:25:25 Total Return Index | Nifty 500 TRI |
| Launch date | 17-12-2021 | 22-09-2021 |
| Minimum investment | ₹100 | ₹100 |
| Lock in | None | None |
| Fund managers | Nitin Arora, Shreyash Devalkar, Hitesh Das | Nitin Arora, Krishnaa N |
| Exit load | Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 365 days | Exit Load for units in excess of 20% of the investment,1% will be charged for redemption within 12 months. |
Axis Multicap vs Axis Value: 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 Multicap Fund (Direct) | −1.18% | +0.20% | +7.65% | +3.76% | +18.70% | -- | -- |
| Axis Value Fund (Direct) | −0.67% | −2.13% | +3.50% | +1.22% | +17.74% | +14.91% | -- |
| Multi Cap average | −2.65% | −3.95% | +1.99% | −1.14% | +13.54% | -- | -- |
| Value and Contra average | −2.09% | −5.76% | −3.23% | −5.72% | +11.83% | +11.08% | -- |
Category average: the average of the 33 Multi Cap funds and the 30 Value and Contra funds, same plan type.
Axis Multicap vs Axis Value: Year-wise Returns
| Year | MulticapAxis Multicap | ValueAxis Value |
|---|---|---|
| 2026to date | +5.62% | +0.88% |
| 2025 | +2.42% | +6.44% |
| 2024 | +33.81% | +29.70% |
| 2023 | +38.31% | +42.11% |
| 2022 | −0.20% | +0.48% |
Axis Multicap vs Axis Value: Rolling Returns
Every holding period of both funds, against Nifty500 Multicap 50:25:25 TRI, the benchmark of Axis Multicap Fund
Rolling returns
Every 3-year holding period, 463 of them, one for each trading day from 23-12-2024 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 Multicap Fund (Direct)
Axis Value Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
to
Feb 2025Jun 2022
to
Jun 2025Oct 2022
to
Oct 2025Jan 2023
to
Jan 2026May 2023
to
May 2026Sept 2023
to
Sept 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Axis Multicap | 0.0 | 0.0 | 0.0 | 0.0 | 16.0 | 71.7 | 12.3 | 22.5% | 22.6% | 17.0% | 29.6% | 100% |
| Axis Value | 0.0 | 0.0 | 0.0 | 0.0 | 16.0 | 64.1 | 19.9 | 22.8% | 23.0% | 16.2% | 30.5% | 100% |
| Nifty500 Multicap 50:25:25 TRI | 0.0 | 0.0 | 0.0 | 19.7 | 66.1 | 13.2 | 1.1 | 17.4% | 17.6% | 10.1% | 25.5% | -- |
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. The benchmark is Nifty500 Multicap 50:25:25 TRI, over the same periods. "Beat benchmark" counts the periods in which the fund did better. Every fund is measured over the days all of them have, from 23-12-2021. Past returns do not promise future returns.
Axis Multicap vs Axis Value: 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 23-12-2021 to 30-10-2026: 59 instalments, ₹5,90,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Axis MulticapAxis Multicap Fund (Direct) | ₹5,90,000 | ₹8,75,278 | ₹2,85,278 | 16.1% |
| Axis ValueAxis Value Fund (Direct) | ₹5,90,000 | ₹8,56,323 | ₹2,66,323 | 15.2% |
Axis MulticapAxis Multicap Fund (Direct)
Axis ValueAxis Value 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 Multicap vs Axis Value: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Axis Multicap Fund (Direct) | Axis Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | +3.76% | +1.22% |
| Standard deviation | 15.43% | 14.09% |
| Sharpe ratio | -0.10 | -0.29 |
| Sortino ratio | -0.13 | -0.38 |
| Maximum drawdown | −13.2% (23-03-2026) | −12.1% (30-03-2026) |
| Beta | 1.00 | 0.96 |
| Alpha | +9.82% | +8.07% |
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 Multicap Fund (Direct) | Axis Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | +18.70% | +17.74% |
| Standard deviation | 14.93% | 14.05% |
| Sharpe ratio | 0.85 | 0.83 |
| Sortino ratio | 1.16 | 1.13 |
| Maximum drawdown | −18.1% (28-02-2025) | −17.1% (28-02-2025) |
| Beta | 0.96 | 0.96 |
| Alpha | +7.66% | +7.70% |
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 Multicap Fund (Direct) | Axis Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.48% | +15.35% |
| Standard deviation | 13.92% | 14.41% |
| Sharpe ratio | 0.69 | 0.67 |
| Sortino ratio | 0.94 | 0.90 |
| Maximum drawdown | −18.1% (28-02-2025) | −20.2% (20-06-2022) |
| Beta | 0.89 | 0.96 |
| Alpha | +4.98% | +6.80% |
From daily NAVs, 23-12-2021 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.
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 Multicap Fund (Direct)
Axis Value Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Axis Multicap Fund (Direct) | −18.1% | 26-09-2024 | 28-02-2025 | 29-10-2025 | 8 months | −5.7% |
| Axis Value Fund (Direct) | −20.2% | 17-01-2022 | 20-06-2022 | 30-11-2022 | 5 months | −6.0% |
| Nifty500 Multicap 50:25:25 TRI | −19.8% | 26-09-2024 | 03-03-2025 | 03-08-2026 | 17 months | −8.0% |
From daily values since 23-12-2021, 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 Multicap Fund (Direct)
Axis Value Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
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 Multicap Fund (Direct)
Axis Value Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
Against Nifty500 Multicap 50:25:25 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Axis Multicap Fund (Direct) | 107% | 87% | 4.95% |
| Axis Value Fund (Direct) | 106% | 86% | 4.19% |
From month-end values since 23-12-2021. Up capture: a fund's average month when the benchmark rose, as % of the benchmark's; above 100% it gained more. Down capture: the same for months the benchmark fell; below 100% it fell less. Tracking error: how far the monthly returns strayed from the benchmark's, a year; an index fund aims near 0.
Axis Multicap vs Axis Value: Portfolio Overlap
From each fund's latest monthly portfolio: Axis Multicap Fund, September 2026; Axis Value Fund, September 2026
Holdings in common
- Overlap
- 64.2%
- Held by both
- 69
- Only in Axis Multicap
- 39
- Only in Axis Value
- 17
| Security | % of Axis Multicap | % of Axis Value |
|---|---|---|
| ICICI Bank Limited | 3.25% | 5.28% |
| HDFC Bank Limited | 2.72% | 4.54% |
| Welspun Corp Limited | 2.35% | 2.53% |
| Sona BLW Precision Forgings Limited | 2.53% | 2.29% |
| Shriram Finance Limited | 1.91% | 2.43% |
| Multi Commodity Exchange of India Limited | 1.97% | 1.61% |
| RBL Bank Limited | 1.76% | 1.59% |
| Eternal Limited | 2.41% | 1.58% |
| Minda Corporation Limited | 1.58% | 1.77% |
| Apar Industries Limited | 2.03% | 1.47% |
| Axis Bank Limited | 1.45% | 1.48% |
| Torrent Pharmaceuticals Limited | 1.44% | 1.81% |
| Bharti Airtel Limited | 1.40% | 2.41% |
| Mahindra & Mahindra Limited | 1.37% | 1.74% |
| Larsen & Toubro Limited | 1.36% | 2.04% |
| Bajaj Finance Limited | 1.25% | 1.45% |
| State Bank of India | 1.20% | 2.19% |
| Ather Energy Limited | 1.78% | 1.11% |
| Reliance Industries Limited | 1.11% | 3.22% |
| Bharat Heavy Electricals Limited | 1.10% | 2.00% |
| TD Power Systems Limited | 1.92% | 1.05% |
| Premier Energies Limited | 1.03% | 1.10% |
| GE Vernova T&D India Limited | 1.43% | 0.97% |
| PNB Housing Finance Limited | 0.97% | 1.41% |
| Karur Vysya Bank Limited | 1.07% | 0.94% |
| Samvardhana Motherson International Limited | 1.00% | 0.89% |
| Hyundai Motor India Ltd | 0.89% | 1.01% |
| TVS Motor Company Limited | 0.97% | 0.87% |
| City Union Bank Limited | 0.86% | 1.06% |
| Craftsman Automation Limited | 1.56% | 0.85% |
| Radico Khaitan Limited | 1.22% | 0.85% |
| Gland Pharma Limited | 1.13% | 0.85% |
| Fortis Healthcare Limited | 1.21% | 0.84% |
| The Federal Bank Limited | 0.84% | 0.83% |
| NTPC Limited | 0.80% | 2.20% |
| The Karnataka Bank Limited | 0.79% | 0.88% |
| Sansera Engineering Limited | 1.77% | 0.78% |
| Tech Mahindra Limited | 0.75% | 1.64% |
| Amber Enterprises India Limited | 0.79% | 0.73% |
| Sun Pharmaceutical Industries Limited | 0.72% | 1.69% |
| Indus Towers Limited | 0.72% | 0.74% |
| Apollo Hospitals Enterprise Limited | 0.71% | 1.35% |
| Cholamandalam Investment and Finance Company Ltd | 0.77% | 0.70% |
| Laurus Labs Limited | 0.82% | 0.68% |
| IndusInd Bank Limited | 0.71% | 0.68% |
| UltraTech Cement Limited | 0.68% | 0.91% |
| Bharat Electronics Limited | 0.66% | 1.17% |
| Marico Limited | 0.65% | 0.67% |
| PB Fintech Limited | 0.76% | 0.54% |
| Healthcare Global Enterprises Limited | 0.54% | 0.59% |
| The Phoenix Mills Limited | 0.60% | 0.53% |
| Vijaya Diagnostic Centre Limited | 0.51% | 0.80% |
| Ujjivan Small Finance Bank Limited | 0.51% | 0.56% |
| Coforge Limited | 0.80% | 0.47% |
| United Spirits Limited | 0.47% | 0.80% |
| Dixon Technologies (India) Limited | 0.65% | 0.46% |
| Global Health Limited | 0.63% | 0.46% |
| Swiggy Limited | 0.56% | 0.46% |
| Jindal Steel Limited | 0.43% | 0.73% |
| InterGlobe Aviation Limited | 0.96% | 0.42% |
| Varun Beverages Limited | 0.45% | 0.38% |
| Piramal Pharma Limited | 0.33% | 0.40% |
| MTAR Technologies Limited | 0.68% | 0.28% |
| Infosys Limited | 0.28% | 1.90% |
| CG Power and Industrial Solutions Limited | 0.65% | 0.27% |
| Krishna Institute Of Medical Sciences Limited | 0.35% | 0.26% |
| HCL Technologies Limited | 0.26% | 0.42% |
| Birlasoft Limited | 0.25% | 0.27% |
| Firstsource Solutions Limited | 0.35% | 0.24% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 64.2% means 64.2% 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 Multicap Fund
| Security | % of fund |
|---|---|
| Sai Life Sciences Limited | 1.31% |
| Indo-MIM Limited | 1.27% |
| Solar Industries India Limited | 1.15% |
| Divi's Laboratories Limited | 1.12% |
| BSE Limited | 1.04% |
Largest holdings only in Axis Value Fund
| Security | % of fund |
|---|---|
| Kotak Mahindra Bank Limited | 1.19% |
| Hindustan Aeronautics Limited | 0.87% |
| Bharat Petroleum Corporation Limited | 0.85% |
| Cyient Dlm Ltd | 0.74% |
| Bajaj Auto Limited | 0.73% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Axis Multicap | Axis Value |
|---|---|---|
| Equity | 95.4% | 93.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 4.6% | 7.0% |
Market cap of stocks
| Market cap | Axis Multicap | Axis Value |
|---|---|---|
| Large Cap | 39.1% | 57.1% |
| Mid Cap | 23.8% | 15.3% |
| Small Cap | 28.5% | 19.5% |
| Not on AMFI's list | 3.9% | 1.1% |
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 Multicap | Axis Value |
|---|---|---|
| Banks | 15.2% | 21.4% |
| Auto Components | 10.0% | 6.6% |
| Electrical Equipment | 9.8% | 7.1% |
| Pharmaceuticals & Biotechnology | 7.8% | 5.6% |
| Finance | 4.9% | 7.1% |
| Automobiles | 5.0% | 5.5% |
| Retailing | 5.3% | 2.0% |
The six largest sectors of each fund's stocks, % of the fund.
Axis Multicap vs Axis Value: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Axis Multicap Fund | Axis Value Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.93% | 0.88% |
| Base expense ratio (Direct) | 0.59% | 0.60% |
| Total expense ratio (Regular) | 1.99% | 2.22% |
| Base expense ratio (Regular) | 1.48% | 1.78% |
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
Axis Multicap Fund vs Axis Value Fund: Frequently Asked Questions
What is the difference between Axis Multicap Fund and Axis Value Fund?
Axis Multicap Fund is a Multi Cap fund, Axis Value Fund is a Value and Contra fund, run by Axis Mutual Fund. Their portfolios overlap 64.2%. Axis Multicap Fund charges 0.93% a year and Axis Value Fund 0.88%.
Which has given higher returns, Axis Multicap Fund or Axis Value Fund?
Over 1 year: Axis Multicap Fund +3.76%, Axis Value Fund +1.22%. Over 3 years: Axis Multicap Fund +18.70% a year, Axis Value Fund +17.74% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Axis Multicap Fund or Axis Value Fund?
Axis Value Fund charges less: 0.88% a year against 0.93%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Axis Multicap Fund and Axis Value Fund overlap?
64.2%. They hold 69 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, WELCORP. From each fund's latest monthly portfolio.
Which is riskier, Axis Multicap Fund or Axis Value Fund?
On SEBI's riskometer, Axis Multicap Fund is rated Very High and Axis Value Fund Very High. Over 3 years, the standard deviation of daily returns was 14.93% and 14.05% a year.
Which is better for SIP, Axis Multicap Fund or Axis Value Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹4,34,373 in Axis Multicap Fund (XIRR 10.4% a year) and ₹4,22,637 in Axis Value Fund (XIRR 8.6% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both Axis Multicap Fund and Axis Value Fund?
Yes. 64.2% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Axis Multicap Fund and Axis Value Fund?
Axis Multicap Fund: Nitin Arora, Shreyash Devalkar, Hitesh Das. Axis Value Fund: Nitin Arora, Krishnaa N.
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.