Axis Multicap Fund vs ITI Multi Asset Allocation Fund
Direct Plan, Growth option · Data as on 30-10-2026
Axis Multicap Fund is a Multi Cap fund and ITI Multi Asset Allocation Fund is a Multi Asset fund. Axis Multicap Fund charges 0.93% a year and ITI Multi Asset Allocation Fund 1.92% (Direct plans). Their portfolios overlap 18.5%: they hold 18 of the same securities.
ITI Multi Asset Allocation Fund
Multi Asset
- Expense ratio
- 1.92%
- NAV
- ₹9.57
Which is better, Axis Multicap or ITI 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 Multicap costs less: 0.93% a year against 1.92% (Direct plans).
- ITI Multi Asset Allocation fell less in its worst fall since 10-09-2026: −6.0% against −8.8%.
- Axis Multicap holds more in large companies: 39.1% of the fund in large caps against 18.1%.
- Axis Multicap is the larger fund: ₹11,972 Cr against ₹144 Cr.
- Their portfolios overlap 18.5%: 18 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 | ITI Multi Asset Allocation Fund |
|---|---|---|
| Fund house | Axis Mutual Fund | ITI Mutual Fund |
| Category | Multi Cap | Multi Asset |
| AUM | ₹11,972 Cr (30-09-2026) | ₹144 Cr (30-09-2026) |
| NAV | ₹20.12 (Direct) | ₹9.57 (Direct) |
| Expense ratio (Direct) | 0.93% | 1.92% |
| Expense ratio (Regular) | 1.99% | 3.61% |
| Riskometer | Very High | High |
| Benchmark | NIFTY 500 Multicap 50:25:25 Total Return Index | 50% NIFTY 500 TRI + 30% CRISIL Composite Bond Index + 10% Domestic Price of Physical Gold + 10% Domestic Price of Silver |
| Launch date | 17-12-2021 | 07-09-2026 |
| Minimum investment | ₹100 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Nitin Arora, Shreyash Devalkar, Hitesh Das | Nilay Dalal, Laukik Bagwe |
| Exit load | Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 365 days | Exit load of 0.50%, if redeemed within 3 months. |
Axis Multicap vs ITI 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 Multicap Fund (Direct) | −1.18% | +0.20% | +7.65% | +3.76% | +18.70% | -- | -- |
| ITI Multi Asset Allocation Fund (Direct) | −3.02% | -- | -- | -- | -- | -- | -- |
| Multi Cap average | −2.65% | −3.95% | +1.99% | −1.14% | +13.54% | -- | -- |
| Multi Asset average | −1.71% | -- | -- | -- | -- | -- | -- |
Category average: the average of the 33 Multi Cap funds and the 37 Multi Asset funds, same plan type.
Axis Multicap vs ITI Multi Asset Allocation: Year-wise Returns
| Year | Axis MulticapAxis Multicap | ITI Multi Asset AllocationITI Multi Asset Allocation |
|---|---|---|
| 2026to date | +5.62% | -- |
| 2025 | +2.42% | -- |
| 2024 | +33.81% | -- |
| 2023 | +38.31% | -- |
| 2022 | −0.20% | -- |
Axis Multicap vs ITI Multi Asset Allocation: Rolling Returns
Every holding period of both funds, against Nifty500 Multicap 50:25:25 TRI, the benchmark of Axis Multicap Fund
Axis Multicap vs ITI Multi Asset Allocation: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Axis Multicap Fund (Direct) | ITI Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.48% | −27.08% |
| Standard deviation | 13.92% | 10.04% |
| Sharpe ratio | 0.69 | -3.24 |
| Sortino ratio | 0.94 | -3.61 |
| Maximum drawdown | −18.1% (28-02-2025) | −6.0% (23-10-2026) |
| Beta | 0.89 | -- |
| Alpha | +4.98% | -- |
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)
ITI Multi Asset Allocation 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) | −8.8% | 23-09-2026 | 23-10-2026 | Not yet | -- | −4.9% |
| ITI Multi Asset Allocation Fund (Direct) | −6.0% | 23-09-2026 | 23-10-2026 | Not yet | -- | −4.6% |
| Nifty500 Multicap 50:25:25 TRI | −7.7% | 10-09-2026 | 23-10-2026 | Not yet | -- | −5.6% |
From daily values since 10-09-2026, the first day every fund has.
Axis Multicap vs ITI Multi Asset Allocation: Portfolio Overlap
From each fund's latest monthly portfolio: Axis Multicap Fund, September 2026; ITI Multi Asset Allocation Fund, September 2026
Holdings in common
- Overlap
- 18.5%
- Held by both
- 18
- Only in Axis Multicap
- 90
- Only in ITI Multi Asset Allocation
- 29
| Security | % of Axis Multicap | % of ITI Multi Asset Allocation |
|---|---|---|
| ICICI Bank Limited | 3.25% | 2.93% |
| HDFC Bank Limited | 2.72% | 1.65% |
| Eternal Limited | 2.41% | 1.44% |
| Reliance Industries Limited | 1.11% | 1.66% |
| Solar Industries India Limited | 1.15% | 1.04% |
| Bharat Heavy Electricals Limited | 1.10% | 1.03% |
| Samvardhana Motherson International Limited | 1.00% | 1.04% |
| Indo-MIM Limited | 1.27% | 0.99% |
| Bajaj Finance Limited | 1.25% | 0.99% |
| RBL Bank Limited | 1.76% | 0.98% |
| PNB Housing Finance Limited | 0.97% | 1.12% |
| FSN E-Commerce Ventures Limited | 0.87% | 0.94% |
| Glenmark Pharmaceuticals Limited | 0.75% | 0.94% |
| Titan Company Limited | 0.74% | 1.25% |
| Global Health Limited | 0.63% | 1.14% |
| Kirloskar Oil Engines Limited | 0.52% | 1.26% |
| Ather Energy Limited | 1.78% | 0.50% |
| Piramal Pharma Limited | 0.33% | 1.03% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 18.5% means 18.5% 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 |
|---|---|
| Sona BLW Precision Forgings Limited | 2.53% |
| Welspun Corp Limited | 2.35% |
| Apar Industries Limited | 2.03% |
| Multi Commodity Exchange of India Limited | 1.97% |
| TD Power Systems Limited | 1.92% |
Largest holdings only in ITI Multi Asset Allocation Fund
| Security | % of fund |
|---|---|
| 6.60% REC Limited (30/06/2027) | 3.44% |
| Union Bank of India (12/03/2027) | 3.36% |
| DSP Gold ETF | 3.32% |
| Mirae Asset Gold ETF | 2.79% |
| Manipal Payment and Identity Solutions Ltd | 2.67% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Axis Multicap | ITI Multi Asset Allocation |
|---|---|---|
| Equity | 95.4% | 46.9% |
| Debt | 0.0% | 6.8% |
| Cash and others | 4.6% | 46.3% |
Market cap of stocks
| Market cap | Axis Multicap | ITI Multi Asset Allocation |
|---|---|---|
| Large Cap | 39.1% | 18.1% |
| Mid Cap | 23.8% | 7.8% |
| Small Cap | 28.5% | 17.4% |
| Not on AMFI's list | 3.9% | 3.7% |
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 | ITI Multi Asset Allocation |
|---|---|---|
| Banks | 15.2% | 8.9% |
| Auto Components | 10.0% | 2.9% |
| Electrical Equipment | 9.8% | 2.8% |
| Pharmaceuticals & Biotechnology | 7.8% | 3.9% |
| Retailing | 5.3% | 2.4% |
| Automobiles | 5.0% | 1.6% |
| Finance | 4.9% | 3.1% |
| Industrial Products | 3.8% | 4.1% |
The six largest sectors of each fund's stocks, % of the fund.
Axis Multicap vs ITI Multi Asset Allocation: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Axis Multicap Fund | ITI Multi Asset Allocation Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.93% | 1.92% |
| Base expense ratio (Direct) | 0.59% | 0.34% |
| Total expense ratio (Regular) | 1.99% | 3.61% |
| Base expense ratio (Regular) | 1.48% | 1.82% |
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
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Axis Multicap Fund vs ITI Multi Asset Allocation Fund: Frequently Asked Questions
What is the difference between Axis Multicap Fund and ITI Multi Asset Allocation Fund?
Axis Multicap Fund is a Multi Cap fund, ITI Multi Asset Allocation Fund is a Multi Asset fund, run by Axis Mutual Fund and ITI Mutual Fund. Their portfolios overlap 18.5%. Axis Multicap Fund charges 0.93% a year and ITI Multi Asset Allocation Fund 1.92%.
Which has the lower expense ratio, Axis Multicap Fund or ITI Multi Asset Allocation Fund?
Axis Multicap Fund charges less: 0.93% a year against 1.92%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Axis Multicap Fund and ITI Multi Asset Allocation Fund overlap?
18.5%. They hold 18 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, ETERNAL. From each fund's latest monthly portfolio.
Which is riskier, Axis Multicap Fund or ITI Multi Asset Allocation Fund?
On SEBI's riskometer, Axis Multicap Fund is rated Very High and ITI Multi Asset Allocation Fund High. Over their common history, the standard deviation of daily returns was 13.92% and 10.04% a year.
Can I invest in both Axis Multicap Fund and ITI Multi Asset Allocation Fund?
Yes. 18.5% 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 ITI Multi Asset Allocation Fund?
Axis Multicap Fund: Nitin Arora, Shreyash Devalkar, Hitesh Das. ITI Multi Asset Allocation Fund: Nilay Dalal, Laukik Bagwe.
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.