Axis Multicap Fund vs PGIM India Multi Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Axis Multicap Fund and PGIM India Multi Cap Fund are both Multi Cap funds. In the year to 30-10-2026, Axis Multicap Fund (Direct) returned 3.8% and PGIM India Multi Cap Fund (Direct) returned 0.7%. Axis Multicap Fund charges 0.93% a year and PGIM India Multi Cap Fund 0.78% (Direct plans). Their portfolios overlap 40.4%: they hold 48 of the same securities.
PGIM India Multi Cap Fund
Multi Cap
- 1 year return
- 0.7%
- Expense ratio
- 0.78%
- NAV
- ₹10.45
Which is better, Axis Multicap or PGIM India Multi Cap? 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 1 year: 3.8% against 0.7%.
- PGIM India Multi Cap costs less: 0.78% a year against 0.93% (Direct plans).
- Axis Multicap fell less in its worst fall since 13-09-2024: −18.1% against −18.1%.
- Axis Multicap is the larger fund: ₹11,972 Cr against ₹460 Cr.
- Their portfolios overlap 40.4%: 48 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 | PGIM India Multi Cap Fund |
|---|---|---|
| Fund house | Axis Mutual Fund | PGIM India Mutual Fund |
| Category | Multi Cap | Multi Cap |
| AUM | ₹11,972 Cr (30-09-2026) | ₹460 Cr (30-09-2026) |
| NAV | ₹20.12 (Direct) | ₹10.45 (Direct) |
| Expense ratio (Direct) | 0.93% | 0.78% |
| Expense ratio (Regular) | 1.99% | 2.53% |
| 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 | 10-09-2024 |
| Minimum investment | ₹100 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Nitin Arora, Shreyash Devalkar, Hitesh Das | Vivek Sharma, Anandha Padmanabhan Anjeneyan, Utsav Mehta, and Mr. Puneet Pal |
| 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 90 days. |
Axis Multicap vs PGIM India Multi Cap: 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% | -- | -- |
| PGIM India Multi Cap Fund (Direct) | −2.25% | −3.15% | +3.77% | +0.67% | -- | -- | -- |
| 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 PGIM India Multi Cap: Year-wise Returns
| Year | Axis MulticapAxis Multicap | PGIM India Multi CapPGIM India Multi Cap | Nifty500 Multicap 50:25:25 TRI |
|---|---|---|---|
| 2026to date | +5.62% | +3.06% | −5.56% |
| 2025 | +2.42% | +5.63% | +5.29% |
| 2024 | +33.81% | -- | +19.34% |
| 2023 | +38.31% | -- | +33.74% |
| 2022 | −0.20% | -- | +2.84% |
Axis Multicap vs PGIM India Multi Cap: 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, 280 of them, one for each trading day from 15-09-2025 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)
PGIM India Multi Cap Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
to
Oct 2025Dec 2024
to
Dec 2025Mar 2025
to
Mar 2026May 2025
to
May 2026Jul 2025
to
Jul 2026Sept 2025
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 | 7.9 | 28.6 | 41.4 | 18.6 | 3.6 | 0.0 | 0.0 | 6.6% | 6.4% | −4.2% | 18.2% | 79% |
| PGIM India Multi Cap | 2.9 | 23.9 | 46.0 | 23.2 | 4.0 | 0.0 | 0.0 | 7.4% | 7.5% | −2.5% | 17.7% | 98% |
| Nifty500 Multicap 50:25:25 TRI | 23.2 | 37.1 | 30.7 | 6.4 | 2.5 | 0.0 | 0.0 | 3.7% | 3.6% | −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 13-09-2024. Past returns do not promise future returns.
Axis Multicap vs PGIM India Multi Cap: 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 02-09-2024 to 30-10-2026: 26 instalments, ₹2,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Axis MulticapAxis Multicap Fund (Direct) | ₹2,60,000 | ₹2,81,989 | ₹21,989 | 7.4% |
| PGIM India Multi CapPGIM India Multi Cap Fund (Direct) | ₹2,60,000 | ₹2,76,005 | ₹16,005 | 5.4% |
Axis MulticapAxis Multicap Fund (Direct)
PGIM India Multi CapPGIM India Multi Cap 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 PGIM India Multi Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Axis Multicap Fund (Direct) | PGIM India Multi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +3.76% | +0.67% |
| Standard deviation | 15.43% | 14.46% |
| Sharpe ratio | -0.10 | -0.32 |
| Sortino ratio | -0.13 | -0.43 |
| Maximum drawdown | −13.2% (23-03-2026) | −13.2% (23-03-2026) |
| Beta | 1.00 | 0.94 |
| Alpha | +9.82% | +6.05% |
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) | PGIM India Multi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.48% | +1.66% |
| Standard deviation | 13.92% | 14.25% |
| Sharpe ratio | 0.69 | -0.28 |
| Sortino ratio | 0.94 | -0.38 |
| Maximum drawdown | −18.1% (28-02-2025) | −18.1% (28-02-2025) |
| Beta | 0.89 | 0.93 |
| Alpha | +4.98% | +4.05% |
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)
PGIM India Multi Cap 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% |
| PGIM India Multi Cap Fund (Direct) | −18.1% | 26-09-2024 | 28-02-2025 | 16-09-2025 | 7 months | −6.6% |
| 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 13-09-2024, 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)
PGIM India Multi Cap 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) | 114% | 88% | 4.69% |
| PGIM India Multi Cap Fund (Direct) | 108% | 86% | 3.49% |
From month-end values since 13-09-2024. 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 PGIM India Multi Cap: Portfolio Overlap
From each fund's latest monthly portfolio: Axis Multicap Fund, September 2026; PGIM India Multi Cap Fund, September 2026
Holdings in common
- Overlap
- 40.4%
- Held by both
- 48
- Only in Axis Multicap
- 60
- Only in PGIM India Multi Cap
- 52
| Security | % of Axis Multicap | % of PGIM India Multi Cap |
|---|---|---|
| ICICI Bank Limited | 3.25% | 4.44% |
| HDFC Bank Limited | 2.72% | 3.76% |
| Eternal Limited | 2.41% | 1.77% |
| Sansera Engineering Limited | 1.77% | 1.97% |
| Bharti Airtel Limited | 1.40% | 1.98% |
| Multi Commodity Exchange of India Limited | 1.97% | 1.30% |
| Larsen & Toubro Limited | 1.36% | 1.27% |
| Indo-MIM Limited | 1.27% | 2.79% |
| Sai Life Sciences Limited | 1.31% | 1.23% |
| Bajaj Finance Limited | 1.25% | 1.21% |
| State Bank of India | 1.20% | 1.54% |
| Reliance Industries Limited | 1.11% | 2.31% |
| Torrent Pharmaceuticals Limited | 1.44% | 1.07% |
| Karur Vysya Bank Limited | 1.07% | 1.21% |
| Sona BLW Precision Forgings Limited | 2.53% | 1.02% |
| Solar Industries India Limited | 1.15% | 1.01% |
| TVS Motor Company Limited | 0.97% | 2.27% |
| Radico Khaitan Limited | 1.22% | 0.87% |
| Ather Energy Limited | 1.78% | 0.86% |
| The Federal Bank Limited | 0.84% | 0.91% |
| Lenskart Solutions Limited | 0.77% | 1.49% |
| Dhoot Transmission Ltd | 0.75% | 1.12% |
| Cholamandalam Investment and Finance Company Ltd | 0.77% | 0.73% |
| Sun Pharmaceutical Industries Limited | 0.72% | 0.76% |
| Divi's Laboratories Limited | 1.12% | 0.71% |
| UltraTech Cement Limited | 0.68% | 0.76% |
| CG Power and Industrial Solutions Limited | 0.65% | 1.89% |
| Dixon Technologies (India) Limited | 0.65% | 1.29% |
| Tech Mahindra Limited | 0.75% | 0.61% |
| Cummins India Limited | 0.55% | 1.29% |
| Navin Fluorine International Limited | 0.54% | 0.58% |
| Bharat Electronics Limited | 0.66% | 0.47% |
| Varun Beverages Limited | 0.45% | 0.61% |
| Doms Industries Limited | 0.45% | 1.07% |
| Blue Star Limited | 0.44% | 0.72% |
| One 97 Communications Limited | 0.44% | 0.71% |
| CCL Products (India) Limited | 0.40% | 1.05% |
| Mahindra & Mahindra Limited | 1.37% | 0.38% |
| Capillary Technologies India Limited | 0.37% | 0.48% |
| Sagility Limited | 0.36% | 0.51% |
| K.P.R. Mill Limited | 0.35% | 1.09% |
| Krishna Institute Of Medical Sciences Limited | 0.35% | 0.72% |
| Vishal Mega Mart Limited | 0.33% | 0.85% |
| Triveni Turbine Limited | 0.35% | 0.31% |
| Infosys Limited | 0.28% | 1.52% |
| Rubicon Research Limited | 0.20% | 1.24% |
| Bharat Forge Limited | 0.13% | 0.72% |
| Persistent Systems Limited | 0.07% | 0.65% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 40.4% means 40.4% 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 |
|---|---|
| Welspun Corp Limited | 2.35% |
| Apar Industries Limited | 2.03% |
| TD Power Systems Limited | 1.92% |
| Shriram Finance Limited | 1.91% |
| RBL Bank Limited | 1.76% |
Largest holdings only in PGIM India Multi Cap Fund
| Security | % of fund |
|---|---|
| Nippon Life India Asset Management Ltd. | 1.49% |
| Hindalco Industries Ltd. | 1.34% |
| Max Financial Services Ltd. | 1.29% |
| Prestige Estates Projects Ltd. | 1.14% |
| Clean Max Enviro Energy Solutions Ltd. | 1.12% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Axis Multicap | PGIM India Multi Cap |
|---|---|---|
| Equity | 95.4% | 95.0% |
| Debt | 0.0% | 0.1% |
| Cash and others | 4.6% | 4.9% |
Market cap of stocks
| Market cap | Axis Multicap | PGIM India Multi Cap |
|---|---|---|
| Large Cap | 39.1% | 37.8% |
| Mid Cap | 23.8% | 25.9% |
| Small Cap | 28.5% | 23.9% |
| Not on AMFI's list | 3.9% | 7.4% |
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 | PGIM India Multi Cap |
|---|---|---|
| Banks | 15.2% | 12.4% |
| Auto Components | 10.0% | 6.2% |
| Electrical Equipment | 9.8% | 2.7% |
| Pharmaceuticals & Biotechnology | 7.8% | 7.0% |
| Retailing | 5.3% | 4.8% |
| Automobiles | 5.0% | 3.9% |
| Capital Markets | 3.8% | 4.9% |
| Healthcare Services | 4.3% | 4.4% |
The six largest sectors of each fund's stocks, % of the fund.
Axis Multicap vs PGIM India Multi Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Axis Multicap Fund | PGIM India Multi Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.93% | 0.78% |
| Base expense ratio (Direct) | 0.59% | 0.61% |
| Total expense ratio (Regular) | 1.99% | 2.53% |
| Base expense ratio (Regular) | 1.48% | 2.10% |
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 PGIM India Multi Cap Fund: Frequently Asked Questions
What is the difference between Axis Multicap Fund and PGIM India Multi Cap Fund?
Both are Multi Cap funds, run by Axis Mutual Fund and PGIM India Mutual Fund. Their portfolios overlap 40.4%. Axis Multicap Fund charges 0.93% a year and PGIM India Multi Cap Fund 0.78%.
Which has given higher returns, Axis Multicap Fund or PGIM India Multi Cap Fund?
Over 1 year: Axis Multicap Fund +3.76%, PGIM India Multi Cap Fund +0.67%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Axis Multicap Fund or PGIM India Multi Cap Fund?
PGIM India Multi Cap Fund charges less: 0.78% a year against 0.93%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Axis Multicap Fund and PGIM India Multi Cap Fund overlap?
40.4%. They hold 48 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 PGIM India Multi Cap Fund?
On SEBI's riskometer, Axis Multicap Fund is rated Very High and PGIM India Multi Cap Fund Very High. Over 1 years, the standard deviation of daily returns was 15.43% and 14.46% a year.
Can I invest in both Axis Multicap Fund and PGIM India Multi Cap Fund?
Yes. 40.4% 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 PGIM India Multi Cap Fund?
Axis Multicap Fund: Nitin Arora, Shreyash Devalkar, Hitesh Das. PGIM India Multi Cap Fund: Vivek Sharma, Anandha Padmanabhan Anjeneyan, Utsav Mehta, and Mr. Puneet Pal.
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.