Axis Multicap Fund vs Groww Multicap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Axis Multicap Fund and Groww Multicap Fund are both Multi Cap funds. In the year to 30-10-2026, Axis Multicap Fund (Direct) returned 3.8% and Groww Multicap Fund (Direct) returned 10.3%. Axis Multicap Fund charges 0.93% a year and Groww Multicap Fund 1.04% (Direct plans). Their portfolios overlap 32.2%: they hold 36 of the same securities.
Which is better, Axis Multicap or Groww Multicap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Groww Multicap returned more over 1 year: 10.3% against 3.8%.
- Axis Multicap costs less: 0.93% a year against 1.04% (Direct plans).
- Axis Multicap fell less in its worst fall since 18-12-2024: −16.1% against −16.5%.
- Axis Multicap holds more in large companies: 39.1% of the fund in large caps against 27.0%.
- Axis Multicap is the larger fund: ₹11,972 Cr against ₹1,687 Cr.
- Their portfolios overlap 32.2%: 36 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 | Groww Multicap Fund |
|---|---|---|
| Fund house | Axis Mutual Fund | Groww Mutual Fund |
| Category | Multi Cap | Multi Cap |
| AUM | ₹11,972 Cr (30-09-2026) | ₹1,687 Cr (30-09-2026) |
| NAV | ₹20.12 (Direct) | ₹11.94 (Direct) |
| Expense ratio (Direct) | 0.93% | 1.04% |
| Expense ratio (Regular) | 1.99% | 2.69% |
| Riskometer | Very High | Very High |
| Benchmark | NIFTY 500 Multicap 50:25:25 Total Return Index | NIFTY 500 Multicap 50:25:25 Total Return Index |
| Launch date | 17-12-2021 | 16-12-2024 |
| Minimum investment | ₹100 | ₹500 |
| Lock in | None | None |
| Fund managers | Nitin Arora, Shreyash Devalkar, Hitesh Das | Anupam Tiwari, Saptarshee Chatterjee, Gagan Thareja, Nikhil Satam |
| Exit load | Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 365 days | 1% if redeemed/ switched out within 1 year from the date of allotment. b) NIL, if redeemed/ switched out after 1 year from the date of allotment |
Axis Multicap vs Groww Multicap: 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% | -- | -- |
| Groww Multicap Fund (Direct) | −3.15% | −0.06% | +7.02% | +10.28% | -- | -- | -- |
| Multi Cap average | −2.65% | −3.95% | +1.99% | −1.14% | -- | -- | -- |
Category average: the average of the 33 Multi Cap funds, same plan type.
Axis Multicap vs Groww Multicap: Year-wise Returns
| Year | AxisAxis Multicap | GrowwGroww Multicap | Nifty500 Multicap 50:25:25 TRI |
|---|---|---|---|
| 2026to date | +5.62% | +10.15% | −5.56% |
| 2025 | +2.42% | +9.04% | +5.29% |
| 2024 | +33.81% | -- | +19.34% |
| 2023 | +38.31% | -- | +33.74% |
| 2022 | −0.20% | -- | +2.84% |
Axis Multicap vs Groww Multicap: Rolling Returns
Every holding period of both funds, against Nifty500 Multicap 50:25:25 TRI, the benchmark of both
Rolling returns
Every 1-year holding period, 215 of them, one for each trading day from 18-12-2025 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)
Groww Multicap Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
to
Jan 2026Mar 2025
to
Mar 2026Apr 2025
to
Apr 2026Jun 2025
to
Jun 2026Aug 2025
to
Aug 2026Oct 2025
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 | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Axis Multicap | 1.9 | 26.0 | 43.3 | 24.2 | 4.7 | 0.0 | 0.0 | 7.6% | 7.2% | −0.8% | 18.2% | 80% |
| Groww Multicap | 0.0 | 0.0 | 12.3 | 26.9 | 32.5 | 25.0 | 3.3 | 16.5% | 16.3% | 6.9% | 26.6% | 100% |
| Nifty500 Multicap 50:25:25 TRI | 17.7 | 38.6 | 32.1 | 8.4 | 3.3 | 0.0 | 0.0 | 4.3% | 4.3% | −7.6% | 18.0% | -- |
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 18-12-2024. Past returns do not promise future returns.
Axis Multicap vs Groww Multicap: 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 02-12-2024 to 30-10-2026: 23 instalments, ₹2,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Axis MulticapAxis Multicap Fund (Direct) | ₹2,30,000 | ₹2,49,512 | ₹19,512 | 8.4% |
| Groww MulticapGroww Multicap Fund (Direct) | ₹2,30,000 | ₹2,63,535 | ₹33,535 | 14.4% |
Axis MulticapAxis Multicap Fund (Direct)
Groww MulticapGroww Multicap 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 Groww Multicap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Axis Multicap Fund (Direct) | Groww Multicap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +3.76% | +10.28% |
| Standard deviation | 15.43% | 16.54% |
| Sharpe ratio | -0.10 | 0.30 |
| Sortino ratio | -0.13 | 0.43 |
| Maximum drawdown | −13.2% (23-03-2026) | −12.1% (23-03-2026) |
| Beta | 1.00 | 1.05 |
| Alpha | +9.82% | +16.89% |
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) | Groww Multicap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.48% | +9.90% |
| Standard deviation | 13.92% | 15.48% |
| Sharpe ratio | 0.69 | 0.28 |
| Sortino ratio | 0.94 | 0.39 |
| Maximum drawdown | −18.1% (28-02-2025) | −16.5% (03-03-2025) |
| Beta | 0.89 | 0.98 |
| Alpha | +4.98% | +11.31% |
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)
Groww Multicap 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) | −16.1% | 02-01-2025 | 28-02-2025 | 15-09-2025 | 7 months | −5.7% |
| Groww Multicap Fund (Direct) | −16.5% | 02-01-2025 | 03-03-2025 | 05-06-2025 | 3 months | −6.5% |
| Nifty500 Multicap 50:25:25 TRI | −15.6% | 18-12-2024 | 03-03-2025 | 06-06-2025 | 3 months | −8.0% |
From daily values since 18-12-2024, 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)
Groww Multicap 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) | 111% | 91% | 4.76% |
| Groww Multicap Fund (Direct) | 140% | 95% | 5.78% |
From month-end values since 18-12-2024. 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 Groww Multicap: Portfolio Overlap
From each fund's latest monthly portfolio: Axis Multicap Fund, September 2026; Groww Multicap Fund, September 2026
Holdings in common
- Overlap
- 32.2%
- Held by both
- 36
- Only in Axis Multicap
- 72
- Only in Groww Multicap
- 45
| Security | % of Axis Multicap | % of Groww Multicap |
|---|---|---|
| Apar Industries Limited | 2.03% | 2.28% |
| Multi Commodity Exchange of India Limited | 1.97% | 2.28% |
| TD Power Systems Limited | 1.92% | 3.07% |
| Ather Energy Limited | 1.78% | 2.10% |
| GE Vernova T&D India Limited | 1.43% | 1.50% |
| Bharti Airtel Limited | 1.40% | 2.66% |
| Shriram Finance Limited | 1.91% | 1.39% |
| Mahindra & Mahindra Limited | 1.37% | 2.34% |
| Larsen & Toubro Limited | 1.36% | 1.75% |
| Craftsman Automation Limited | 1.56% | 1.24% |
| ICICI Bank Limited | 3.25% | 1.09% |
| BSE Limited | 1.04% | 1.27% |
| State Bank of India | 1.20% | 1.03% |
| Sona BLW Precision Forgings Limited | 2.53% | 1.01% |
| Divi's Laboratories Limited | 1.12% | 1.00% |
| Hyundai Motor India Ltd | 0.89% | 2.72% |
| FSN E-Commerce Ventures Limited | 0.87% | 1.39% |
| Bajaj Finance Limited | 1.25% | 0.81% |
| Dhoot Transmission Ltd | 0.75% | 1.26% |
| TVS Motor Company Limited | 0.97% | 0.75% |
| Samvardhana Motherson International Limited | 1.00% | 0.66% |
| Bharat Electronics Limited | 0.66% | 1.29% |
| Azad Engineering Ltd | 0.60% | 0.92% |
| Cummins India Limited | 0.55% | 1.33% |
| Navin Fluorine International Limited | 0.54% | 1.03% |
| Ujjivan Small Finance Bank Limited | 0.51% | 2.95% |
| Mphasis Limited | 0.47% | 0.63% |
| RBL Bank Limited | 1.76% | 0.45% |
| Cholamandalam Investment and Finance Company Ltd | 0.77% | 0.42% |
| Coforge Limited | 0.80% | 0.41% |
| Schaeffler India Limited | 0.37% | 1.80% |
| Sagility Limited | 0.36% | 1.77% |
| Krishna Institute Of Medical Sciences Limited | 0.35% | 0.53% |
| Tenneco Clean Air India Limited | 0.34% | 2.04% |
| Infosys Limited | 0.28% | 0.28% |
| Bharat Forge Limited | 0.13% | 0.60% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 32.2% means 32.2% 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 |
|---|---|
| HDFC Bank Limited | 2.72% |
| Eternal Limited | 2.41% |
| Welspun Corp Limited | 2.35% |
| Sansera Engineering Limited | 1.77% |
| Minda Corporation Limited | 1.58% |
Largest holdings only in Groww Multicap Fund
| Security | % of fund |
|---|---|
| Manipal Payment Identity Solutions Ltd | 3.43% |
| OnEMI Technology Solutions Limited | 2.55% |
| Ashok Leyland Limited | 2.49% |
| Kanohar Electricals Limited | 2.42% |
| Eicher Motors Limited | 2.00% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Axis Multicap | Groww Multicap |
|---|---|---|
| Equity | 95.4% | 96.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 4.6% | 4.0% |
Market cap of stocks
| Market cap | Axis Multicap | Groww Multicap |
|---|---|---|
| Large Cap | 39.1% | 27.0% |
| Mid Cap | 23.8% | 26.9% |
| Small Cap | 28.5% | 29.8% |
| Not on AMFI's list | 3.9% | 12.3% |
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 | Groww Multicap |
|---|---|---|
| Banks | 15.2% | 6.1% |
| Electrical Equipment | 9.8% | 10.6% |
| Automobiles | 5.0% | 10.1% |
| Auto Components | 10.0% | 10.0% |
| Finance | 4.9% | 9.3% |
| Pharmaceuticals & Biotechnology | 7.8% | 4.4% |
| Capital Markets | 3.8% | 6.1% |
| Retailing | 5.3% | 2.5% |
The six largest sectors of each fund's stocks, % of the fund.
Axis Multicap vs Groww Multicap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Axis Multicap Fund | Groww Multicap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.93% | 1.04% |
| Base expense ratio (Direct) | 0.59% | 0.33% |
| Total expense ratio (Regular) | 1.99% | 2.69% |
| 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
Compare Axis Multicap with
Axis Multicap Fund vs Groww Multicap Fund: Frequently Asked Questions
What is the difference between Axis Multicap Fund and Groww Multicap Fund?
Both are Multi Cap funds, run by Axis Mutual Fund and Groww Mutual Fund. Their portfolios overlap 32.2%. Axis Multicap Fund charges 0.93% a year and Groww Multicap Fund 1.04%.
Which has given higher returns, Axis Multicap Fund or Groww Multicap Fund?
Over 1 year: Axis Multicap Fund +3.76%, Groww Multicap Fund +10.28%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Axis Multicap Fund or Groww Multicap Fund?
Axis Multicap Fund charges less: 0.93% a year against 1.04%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Axis Multicap Fund and Groww Multicap Fund overlap?
32.2%. They hold 36 of the same securities, the largest shared ones being APARINDS, MCX, TDPOWERSYS. From each fund's latest monthly portfolio.
Which is riskier, Axis Multicap Fund or Groww Multicap Fund?
On SEBI's riskometer, Axis Multicap Fund is rated Very High and Groww Multicap Fund Very High. Over 1 years, the standard deviation of daily returns was 15.43% and 16.54% a year.
Can I invest in both Axis Multicap Fund and Groww Multicap Fund?
Yes. 32.2% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Axis Multicap Fund and Groww Multicap Fund?
Axis Multicap Fund: Nitin Arora, Shreyash Devalkar, Hitesh Das. Groww Multicap Fund: Anupam Tiwari, Saptarshee Chatterjee, Gagan Thareja, Nikhil Satam.
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.