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    Axis Nifty 500 Index Fund vs Mirae Asset Multi Asset Allocation Fund

    Direct Plan, Growth option · Data as on 30-10-2026

    Axis Nifty 500 Index Fund is an Index fund and Mirae Asset Multi Asset Allocation Fund is a Multi Asset fund. In the year to 30-10-2026, Axis Nifty 500 Index Fund (Direct) returned −7.6% and Mirae Asset Multi Asset Allocation Fund (Direct) returned 4.1%. Axis Nifty 500 Index Fund charges 0.17% a year and Mirae Asset Multi Asset Allocation Fund 0.65% (Direct plans). Their portfolios overlap 45.8%: they hold 122 of the same securities.

    Axis Nifty 500 Index Fund

    Index

    1 year return
    −7.6%
    Expense ratio
    0.17%
    NAV
    ₹9.63
    See Axis Nifty 500 Index Fund

    Mirae Asset Multi Asset Allocation Fund

    Multi Asset

    1 year return
    4.1%
    Expense ratio
    0.65%
    NAV
    ₹13.67
    See Mirae Asset Multi Asset Allocation Fund

    Which is better, Axis Nifty 500 Index or Mirae Asset 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.

    • Mirae Asset Multi Asset Allocation returned more over 1 year: 4.1% against −7.6%.
    • Axis Nifty 500 Index costs less: 0.17% a year against 0.65% (Direct plans).
    • Mirae Asset Multi Asset Allocation fell less in its worst fall since 16-07-2024: −9.1% against −18.6%.
    • Axis Nifty 500 Index holds more in large companies: 67.2% of the fund in large caps against 44.6%.
    • Mirae Asset Multi Asset Allocation is the larger fund: ₹3,607 Cr against ₹314 Cr.
    • Their portfolios overlap 45.8%: 122 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

    FactAxis Nifty 500 Index FundMirae Asset Multi Asset Allocation Fund
    Fund houseAxis Mutual FundMirae Asset Mutual Fund
    CategoryIndexMulti Asset
    AUM₹314 Cr (30-09-2026)₹3,607 Cr (30-09-2026)
    NAV₹9.63 (Direct)₹13.67 (Direct)
    Expense ratio (Direct)0.17%0.65%
    Expense ratio (Regular)1.11%2.15%
    RiskometerVery HighVery High
    BenchmarkNifty 500 TRI65% Nifty 500 TRI + 25% Nifty Short Duration Debt Index +7.5% Domestic Price of Gold + 2.5% Domestic Price of Silver
    Launch date12-07-202431-01-2024
    Minimum investment₹100₹5,000
    Lock inNoneNone
    Fund managersNandik Malik, Rohit GautamHarshad Borawake, Basant Bafna, Siddharth Srivastava, Ritesh Patel
    Exit loadExit load of 0.25%, if redeemed within 15 days.Exit Load for units in excess of 15% of the investment,1% will be charged for redemption within 180 Days.

    Axis Nifty 500 Index vs Mirae Asset 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.

    Fund1M3M6M1Y3Y5Y10Y
    Axis Nifty 500 Index Fund (Direct)−0.76%−6.09%−2.91%−7.64%------
    Mirae Asset Multi Asset Allocation Fund (Direct)−1.13%−2.18%−0.61%+4.13%------
    Multi Asset average−1.71%−3.33%−1.78%+2.00%------

    Category average: the average of the 37 Multi Asset funds, same plan type.

    Axis Nifty 500 Index vs Mirae Asset Multi Asset Allocation: Year-wise Returns

    YearAxis Nifty 500 IndexAxis Nifty 500 IndexMirae Asset Multi Asset AllocationMirae Asset Multi Asset Allocation
    2026to date−7.79%+0.10%
    2025+7.73%+20.12%

    Axis Nifty 500 Index vs Mirae Asset Multi Asset Allocation: Rolling Returns

    Every holding period of both funds, against Nifty 500 TRI, the benchmark of Axis Nifty 500 Index Fund

    Rolling returns

    Every 1-year holding period, 322 of them, one for each trading day from 16-07-2025 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.

    −10%0%10%20%30%
    Aug 2024
    to
    Aug 2025
    Nov 2024
    to
    Nov 2025
    Jan 2025
    to
    Jan 2026
    Apr 2025
    to
    Apr 2026
    Jul 2025
    to
    Jul 2026
    Sept 2025
    to
    Sept 2026
    Axis Nifty 500 Index Fund (Direct)Mirae Asset Multi Asset Allocation Fund (Direct)Nifty 500 TRI

    How the periods spread

    FundBelow 0%0-5%5-10%10-15%15-20%20-25%Above 25%MeanMedianLowestHighestBeat benchmark
    Axis Nifty 500 Index35.430.424.87.51.90.00.02.8%2.0%−9.3%17.5%0%
    Mirae Asset Multi Asset Allocation0.02.212.044.825.612.62.814.5%13.9%2.7%27.3%100%
    Nifty 500 TRI32.631.726.47.12.20.00.02.9%2.1%−9.0%17.6%--

    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 Nifty 500 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 16-07-2024. Past returns do not promise future returns.

    Axis Nifty 500 Index vs Mirae Asset 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

    Step up each year
    PeriodFor

    ₹10,000 on the first trading day of every month, from 16-07-2024 to 30-10-2026: 28 instalments, ₹2,80,000 in all.

    InvestmentInvestedValue nowGainReturn a year
    Axis Nifty 500 IndexAxis Nifty 500 Index Fund (Direct) ₹2,80,000 ₹2,72,316 −₹7,684 −2.3%
    Mirae Asset Multi Asset AllocationMirae Asset Multi Asset Allocation Fund (Direct) ₹2,80,000 ₹3,06,724 ₹26,724 7.8%
    ₹0₹1.0 L₹2.0 L₹3.0 L₹4.0 L
    20252026
    Axis Nifty 500 IndexAxis Nifty 500 Index Fund (Direct)Mirae Asset Multi Asset AllocationMirae Asset 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 Nifty 500 Index vs Mirae Asset Multi Asset Allocation: Risk and Drawdowns

    How much each fund swings, and the worst fall over the same days

    Risk and return

    MeasureAxis Nifty 500 Index Fund (Direct)Mirae Asset Multi Asset Allocation Fund (Direct)
    Return (CAGR)−7.64%+4.13%
    Standard deviation14.37%10.38%
    Sharpe ratio-0.90-0.11
    Sortino ratio-1.19-0.15
    Maximum drawdown−14.9% (30-03-2026)−9.1% (23-03-2026)
    Beta1.00--
    Alpha−0.31%--

    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.

    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.

    −20%−15%−10%−5%0%
    20252026
    Axis Nifty 500 Index Fund (Direct)Mirae Asset Multi Asset Allocation Fund (Direct)Nifty 500 TRI
    FundWorst fallHigh before itBottomBack at the highTime to climb backBelow its high today
    Axis Nifty 500 Index Fund (Direct)−18.6%26-09-202428-02-2025Not yet--−9.2%
    Mirae Asset Multi Asset Allocation Fund (Direct)−9.1%29-01-202623-03-202603-08-20264 months−4.9%
    Nifty 500 TRI−18.6%26-09-202428-02-2025Not yet--−8.8%

    From daily values since 16-07-2024, 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.

    0%5%10%15%
    2026
    Axis Nifty 500 Index Fund (Direct)Mirae Asset Multi Asset Allocation Fund (Direct)Nifty 500 TRI

    Against Nifty 500 TRI

    FundUp captureDown captureTracking error
    Axis Nifty 500 Index Fund (Direct)99%100%0.12%
    Mirae Asset Multi Asset Allocation Fund (Direct)79%29%8.13%

    From month-end values since 16-07-2024. 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 Nifty 500 Index vs Mirae Asset Multi Asset Allocation: Portfolio Overlap

    From each fund's latest monthly portfolio: Axis Nifty 500 Index Fund, September 2026; Mirae Asset Multi Asset Allocation Fund, September 2026

    Holdings in common

    Overlap
    45.8%
    Held by both
    122
    Only in Axis Nifty 500 Index
    378
    Only in Mirae Asset Multi Asset Allocation
    48
    Security% of Axis Nifty 500 Index% of Mirae Asset Multi Asset Allocation
    ICICI Bank Limited4.94%4.27%
    HDFC Bank Limited5.67%4.24%
    Reliance Industries Limited4.14%2.42%
    Bharti Airtel Limited2.79%2.07%
    State Bank of India2.07%2.58%
    Axis Bank Limited1.84%1.99%
    Mahindra & Mahindra Limited1.37%1.12%
    Eternal Limited1.21%1.06%
    Titan Company Limited0.99%1.15%
    Bajaj Finance Limited1.37%0.97%

    Overlap: for each holding both funds own, the smaller of its two weights, added up. 45.8% means 45.8% 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 Nifty 500 Index Fund

    Security% of fund
    Hindustan Unilever Limited0.87%
    HCL Technologies Limited0.68%
    JSW Steel Limited0.63%
    Bajaj Auto Limited0.62%
    Adani Enterprises Limited0.51%

    Largest holdings only in Mirae Asset Multi Asset Allocation Fund

    Security% of fund
    Mirae Asset Gold ETF11.74%
    6.79% Government of India (MD 07/10/2034)1.88%
    Mirae Asset Silver ETF1.59%
    7.47% Reliance Industries Ltd. (MD 16/09/2031)1.38%
    7.45% Torrent Pharmaceuticals Ltd. (MD 19/01/2028)1.38%

    Asset and sector split

    Share of each fund, from its latest monthly portfolio

    Asset allocation

    AssetAxis Nifty 500 IndexMirae Asset Multi Asset Allocation
    Equity99.8%66.4%
    Debt0.0%16.6%
    Cash and others0.2%17.0%

    Market cap of stocks

    Market capAxis Nifty 500 IndexMirae Asset Multi Asset Allocation
    Large Cap67.2%44.6%
    Mid Cap20.9%9.3%
    Small Cap11.6%9.4%
    Not on AMFI's list0.1%3.1%

    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

    SectorAxis Nifty 500 IndexMirae Asset Multi Asset Allocation
    Banks19.3%15.1%
    Finance6.5%3.1%
    Pharmaceuticals & Biotechnology5.8%4.9%
    IT - Software5.7%2.1%
    Petroleum Products5.0%3.0%
    Automobiles4.9%3.4%
    Consumer Durables2.8%3.6%

    The six largest sectors of each fund's stocks, % of the fund.

    Axis Nifty 500 Index vs Mirae Asset Multi Asset Allocation: Expense Ratio

    What each plan charges a year, from AMFI's expense ratio file

    ChargeAxis Nifty 500 Index FundMirae Asset Multi Asset Allocation Fund
    Total expense ratio (Direct)0.17%0.65%
    Base expense ratio (Direct)0.09%0.36%
    Total expense ratio (Regular)1.11%2.15%
    Base expense ratio (Regular)0.90%1.63%

    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 Nifty 500 Index Fund vs Mirae Asset Multi Asset Allocation Fund: Frequently Asked Questions

    What is the difference between Axis Nifty 500 Index Fund and Mirae Asset Multi Asset Allocation Fund?

    Axis Nifty 500 Index Fund is an Index fund, Mirae Asset Multi Asset Allocation Fund is a Multi Asset fund, run by Axis Mutual Fund and Mirae Asset Mutual Fund. Their portfolios overlap 45.8%. Axis Nifty 500 Index Fund charges 0.17% a year and Mirae Asset Multi Asset Allocation Fund 0.65%.

    Which has given higher returns, Axis Nifty 500 Index Fund or Mirae Asset Multi Asset Allocation Fund?

    Over 1 year: Axis Nifty 500 Index Fund −7.64%, Mirae Asset Multi Asset Allocation Fund +4.13%. As on 30-10-2026. Past returns do not promise future returns.

    Which has the lower expense ratio, Axis Nifty 500 Index Fund or Mirae Asset Multi Asset Allocation Fund?

    Axis Nifty 500 Index Fund charges less: 0.17% a year against 0.65%. These are the Direct plans' total expense ratios reported to AMFI.

    How much do Axis Nifty 500 Index Fund and Mirae Asset Multi Asset Allocation Fund overlap?

    45.8%. They hold 122 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, RELIANCE. From each fund's latest monthly portfolio.

    Which is riskier, Axis Nifty 500 Index Fund or Mirae Asset Multi Asset Allocation Fund?

    On SEBI's riskometer, Axis Nifty 500 Index Fund is rated Very High and Mirae Asset Multi Asset Allocation Fund Very High. Over 1 years, the standard deviation of daily returns was 14.37% and 10.38% a year.

    Can I invest in both Axis Nifty 500 Index Fund and Mirae Asset Multi Asset Allocation Fund?

    Yes. 45.8% of each fund's money sits in the same holdings, so a large part of the two investments would move together.

    Who manages Axis Nifty 500 Index Fund and Mirae Asset Multi Asset Allocation Fund?

    Axis Nifty 500 Index Fund: Nandik Malik, Rohit Gautam. Mirae Asset Multi Asset Allocation Fund: Harshad Borawake, Basant Bafna, Siddharth Srivastava, Ritesh Patel.

    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.

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