Axis Value Fund vs Mahindra Manulife Balanced Advantage Fund
Direct Plan, Growth option · Data as on 30-10-2026
Axis Value Fund is a Value and Contra fund and Mahindra Manulife Balanced Advantage Fund is a Balanced Advantage fund. In the 3 years to 30-10-2026, Axis Value Fund (Direct) returned 17.7% a year and Mahindra Manulife Balanced Advantage Fund (Direct) returned 10.9% a year. Axis Value Fund charges 0.88% a year and Mahindra Manulife Balanced Advantage Fund 0.85% (Direct plans). Their portfolios overlap 37.7%: they hold 32 of the same securities.
Mahindra Manulife Balanced Advantage Fund
Balanced Advantage
- 3 year return
- 10.9%
- Expense ratio
- 0.85%
- NAV
- ₹15.69
Which is better, Axis Value or Mahindra Manulife Balanced Advantage? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Axis Value returned more over 3 years: 17.7% a year against 10.9%.
- Axis Value returned more over 1 year: 1.2% against −0.7%.
- Mahindra Manulife Balanced Advantage costs less: 0.85% a year against 0.88% (Direct plans).
- Mahindra Manulife Balanced Advantage swung less over 3 years: a standard deviation of 10.1% a year against 14.0%.
- Mahindra Manulife Balanced Advantage fell less in its worst fall since 03-01-2022: −9.8% against −20.2%.
- Axis Value holds more in large companies: 57.1% of the fund in large caps against 42.4%.
- Axis Value is the larger fund: ₹1,836 Cr against ₹879 Cr.
- Their portfolios overlap 37.7%: 32 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 Value Fund | Mahindra Manulife Balanced Advantage Fund |
|---|---|---|
| Fund house | Axis Mutual Fund | Mahindra Manulife Mutual Fund |
| Category | Value and Contra | Balanced Advantage |
| AUM | ₹1,836 Cr (30-09-2026) | ₹879 Cr (30-09-2026) |
| NAV | ₹20.68 (Direct) | ₹15.69 (Direct) |
| Expense ratio (Direct) | 0.88% | 0.85% |
| Expense ratio (Regular) | 2.22% | 2.41% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | NIFTY 50 Hybrid Composite Debt 50:50 Index |
| Launch date | 22-09-2021 | 30-12-2021 |
| Minimum investment | ₹100 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Nitin Arora, Krishnaa N | $ Mr. Hemang Kapasi, $ Mr. Neelesh Dhamnaskar, $ Mr. Rahul Pal, $ Mr. Amit Garg |
| Exit load | Exit Load for units in excess of 20% of the investment,1% will be charged for redemption within 12 months. | Exit load for units in excess of 10% of the investment 1% will be charged for redemption within 3 months. |
Axis Value vs Mahindra Manulife Balanced Advantage: 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 Value Fund (Direct) | −0.67% | −2.13% | +3.50% | +1.22% | +17.74% | +14.91% | -- |
| Mahindra Manulife Balanced Advantage Fund (Direct) | −0.02% | −2.66% | +1.63% | −0.70% | +10.92% | -- | -- |
| Value and Contra average | −2.09% | −5.76% | −3.23% | −5.72% | +11.83% | +11.08% | -- |
| Balanced Advantage average | −0.55% | −2.88% | +0.08% | −2.08% | +9.14% | -- | -- |
Category average: the average of the 30 Value and Contra funds and the 38 Balanced Advantage funds, same plan type.
Axis Value vs Mahindra Manulife Balanced Advantage: Year-wise Returns
| Year | Axis ValueAxis Value | Mahindra Manulife Balanced AdvantageMahindra Manulife Balanced Advantage |
|---|---|---|
| 2026to date | +0.88% | −0.31% |
| 2025 | +6.44% | +5.87% |
| 2024 | +29.70% | +16.11% |
| 2023 | +42.11% | +22.01% |
| 2022 | +0.48% | -- |
Axis Value vs Mahindra Manulife Balanced Advantage: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of Axis Value Fund
Rolling returns
Every 3-year holding period, 455 of them, one for each trading day from 03-01-2025 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 Value Fund (Direct)
Mahindra Manulife Balanced Advantage Fund (Direct)
Nifty 500 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 Value | 0.0 | 0.0 | 0.0 | 0.0 | 16.3 | 63.5 | 20.2 | 22.8% | 23.0% | 16.2% | 30.5% | 100% |
| Mahindra Manulife Balanced Advantage | 0.0 | 0.0 | 0.4 | 76.4 | 23.1 | 0.0 | 0.0 | 13.9% | 13.9% | 10.0% | 17.8% | 11% |
| Nifty 500 TRI | 0.0 | 0.0 | 4.2 | 39.8 | 49.7 | 6.4 | 0.0 | 15.2% | 15.4% | 8.8% | 22.3% | -- |
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 03-01-2022. Past returns do not promise future returns.
Axis Value vs Mahindra Manulife Balanced Advantage: 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 03-01-2022 to 30-10-2026: 58 instalments, ₹5,80,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Axis ValueAxis Value Fund (Direct) | ₹5,80,000 | ₹8,36,108 | ₹2,56,108 | 15.2% |
| Mahindra Manulife Balanced AdvantageMahindra Manulife Balanced Advantage Fund (Direct) | ₹5,80,000 | ₹7,18,032 | ₹1,38,032 | 8.8% |
Axis ValueAxis Value Fund (Direct)
Mahindra Manulife Balanced AdvantageMahindra Manulife Balanced Advantage 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 Value vs Mahindra Manulife Balanced Advantage: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Axis Value Fund (Direct) | Mahindra Manulife Balanced Advantage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +1.22% | −0.70% |
| Standard deviation | 14.09% | 10.28% |
| Sharpe ratio | -0.29 | -0.58 |
| Sortino ratio | -0.38 | -0.76 |
| Maximum drawdown | −12.1% (30-03-2026) | −9.7% (30-03-2026) |
| Beta | 0.96 | -- |
| Alpha | +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 Value Fund (Direct) | Mahindra Manulife Balanced Advantage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +17.74% | +10.92% |
| Standard deviation | 14.05% | 10.11% |
| Sharpe ratio | 0.83 | 0.48 |
| Sortino ratio | 1.13 | 0.64 |
| Maximum drawdown | −17.1% (28-02-2025) | −9.8% (03-03-2025) |
| Beta | 0.96 | -- |
| Alpha | +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 Value Fund (Direct) | Mahindra Manulife Balanced Advantage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.35% | +9.77% |
| Standard deviation | 14.41% | 9.44% |
| Sharpe ratio | 0.67 | 0.41 |
| Sortino ratio | 0.90 | 0.55 |
| Maximum drawdown | −20.2% (20-06-2022) | −9.8% (03-03-2025) |
| Beta | 0.96 | -- |
| Alpha | +6.80% | -- |
From daily NAVs, 28-09-2021 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 Value Fund (Direct)
Mahindra Manulife Balanced Advantage Fund (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Axis Value Fund (Direct) | −20.2% | 17-01-2022 | 20-06-2022 | 30-11-2022 | 5 months | −6.0% |
| Mahindra Manulife Balanced Advantage Fund (Direct) | −9.8% | 26-09-2024 | 03-03-2025 | 06-06-2025 | 3 months | −4.4% |
| Nifty 500 TRI | −18.6% | 26-09-2024 | 28-02-2025 | Not yet | -- | −8.8% |
From daily values since 03-01-2022, 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 Value Fund (Direct)
Mahindra Manulife Balanced Advantage Fund (Direct)
Nifty 500 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 Value Fund (Direct)
Mahindra Manulife Balanced Advantage Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Axis Value Fund (Direct) | 114% | 85% | 3.92% |
| Mahindra Manulife Balanced Advantage Fund (Direct) | 70% | 53% | 6.43% |
From month-end values since 03-01-2022. 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 Value vs Mahindra Manulife Balanced Advantage: Portfolio Overlap
From each fund's latest monthly portfolio: Axis Value Fund, September 2026; Mahindra Manulife Balanced Advantage Fund, September 2026
Holdings in common
- Overlap
- 37.7%
- Held by both
- 32
- Only in Axis Value
- 54
- Only in Mahindra Manulife Balanced Advantage
- 47
| Security | % of Axis Value | % of Mahindra Manulife Balanced Advantage |
|---|---|---|
| ICICI Bank Limited | 5.28% | 3.87% |
| Bharti Airtel Limited | 2.41% | 2.36% |
| HDFC Bank Limited | 4.54% | 2.35% |
| Reliance Industries Limited | 3.22% | 2.23% |
| Eternal Limited | 1.58% | 2.20% |
| Axis Bank Limited | 1.48% | 2.09% |
| Tech Mahindra Limited | 1.64% | 1.46% |
| State Bank of India | 2.19% | 1.44% |
| Bajaj Finance Limited | 1.45% | 1.41% |
| Apollo Hospitals Enterprise Limited | 1.35% | 1.72% |
| Larsen & Toubro Limited | 2.04% | 1.34% |
| Mahindra & Mahindra Limited | 1.74% | 1.33% |
| Bharat Heavy Electricals Limited | 2.00% | 1.31% |
| Multi Commodity Exchange of India Limited | 1.61% | 1.25% |
| Bharat Electronics Limited | 1.17% | 1.27% |
| Torrent Pharmaceuticals Limited | 1.81% | 0.99% |
| UltraTech Cement Limited | 0.91% | 0.95% |
| Infosys Limited | 1.90% | 0.88% |
| Radico Khaitan Limited | 0.85% | 0.84% |
| Fortis Healthcare Limited | 0.84% | 1.14% |
| The Federal Bank Limited | 0.83% | 1.52% |
| Hindustan Aeronautics Limited | 0.87% | 0.77% |
| Bajaj Auto Limited | 0.73% | 0.86% |
| Jindal Steel Limited | 0.73% | 1.81% |
| Indus Towers Limited | 0.74% | 0.70% |
| Laurus Labs Limited | 0.68% | 1.71% |
| IndusInd Bank Limited | 0.68% | 2.11% |
| Marico Limited | 0.67% | 0.67% |
| The Phoenix Mills Limited | 0.53% | 0.77% |
| Coforge Limited | 0.47% | 0.93% |
| Oil & Natural Gas Corporation Limited | 0.36% | 1.18% |
| Indian Bank | 0.18% | 0.96% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 37.7% means 37.7% 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 Value Fund
| Security | % of fund |
|---|---|
| Welspun Corp Limited | 2.53% |
| Shriram Finance Limited | 2.43% |
| Sona BLW Precision Forgings Limited | 2.29% |
| NTPC Limited | 2.20% |
| Minda Corporation Limited | 1.77% |
Largest holdings only in Mahindra Manulife Balanced Advantage Fund
| Security | % of fund |
|---|---|
| 7.71% Government of India 2066 | 3.41% |
| 8.52% Muthoot Finance Limited 2028 | 2.83% |
| 7.44% National Bank For Agriculture and Rural Development 2029 | 2.82% |
| Brookfield India Real Estate Trust | 2.17% |
| 8.30% Godrej Properties Limited 2027 | 1.71% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Axis Value | Mahindra Manulife Balanced Advantage |
|---|---|---|
| Equity | 93.0% | 67.8% |
| Debt | 0.0% | 24.5% |
| Cash and others | 7.0% | 7.7% |
Market cap of stocks
| Market cap | Axis Value | Mahindra Manulife Balanced Advantage |
|---|---|---|
| Large Cap | 57.1% | 42.4% |
| Mid Cap | 15.3% | 18.7% |
| Small Cap | 19.5% | 6.7% |
| Not on AMFI's list | 1.1% | 0.0% |
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 Value | Mahindra Manulife Balanced Advantage |
|---|---|---|
| Banks | 21.4% | 16.4% |
| Pharmaceuticals & Biotechnology | 5.6% | 7.2% |
| Electrical Equipment | 7.1% | 1.3% |
| Finance | 7.1% | 3.1% |
| Auto Components | 6.6% | 1.0% |
| Automobiles | 5.5% | 3.1% |
| IT - Software | 4.7% | 3.3% |
| Retailing | 2.0% | 4.5% |
The six largest sectors of each fund's stocks, % of the fund.
Axis Value vs Mahindra Manulife Balanced Advantage: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Axis Value Fund | Mahindra Manulife Balanced Advantage Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.88% | 0.85% |
| Base expense ratio (Direct) | 0.60% | 0.62% |
| Total expense ratio (Regular) | 2.22% | 2.41% |
| Base expense ratio (Regular) | 1.78% | 1.98% |
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 Value with
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- Mahindra Manulife Balanced Advantage vs Axis Balanced Advantage
- Mahindra Manulife Balanced Advantage vs WhiteOak Capital Balanced Advantage
Axis Value Fund vs Mahindra Manulife Balanced Advantage Fund: Frequently Asked Questions
What is the difference between Axis Value Fund and Mahindra Manulife Balanced Advantage Fund?
Axis Value Fund is a Value and Contra fund, Mahindra Manulife Balanced Advantage Fund is a Balanced Advantage fund, run by Axis Mutual Fund and Mahindra Manulife Mutual Fund. Their portfolios overlap 37.7%. Axis Value Fund charges 0.88% a year and Mahindra Manulife Balanced Advantage Fund 0.85%.
Which has given higher returns, Axis Value Fund or Mahindra Manulife Balanced Advantage Fund?
Over 1 year: Axis Value Fund +1.22%, Mahindra Manulife Balanced Advantage Fund −0.70%. Over 3 years: Axis Value Fund +17.74% a year, Mahindra Manulife Balanced Advantage Fund +10.92% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Axis Value Fund or Mahindra Manulife Balanced Advantage Fund?
Mahindra Manulife Balanced Advantage Fund charges less: 0.85% a year against 0.88%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Axis Value Fund and Mahindra Manulife Balanced Advantage Fund overlap?
37.7%. They hold 32 of the same securities, the largest shared ones being ICICIBANK, BHARTIARTL, HDFCBANK. From each fund's latest monthly portfolio.
Which is riskier, Axis Value Fund or Mahindra Manulife Balanced Advantage Fund?
On SEBI's riskometer, Axis Value Fund is rated Very High and Mahindra Manulife Balanced Advantage Fund Very High. Over 3 years, the standard deviation of daily returns was 14.05% and 10.11% a year.
Which is better for SIP, Axis Value Fund or Mahindra Manulife Balanced Advantage Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹4,22,637 in Axis Value Fund (XIRR 8.6% a year) and ₹3,98,488 in Mahindra Manulife Balanced Advantage Fund (XIRR 4.8% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both Axis Value Fund and Mahindra Manulife Balanced Advantage Fund?
Yes. 37.7% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Axis Value Fund and Mahindra Manulife Balanced Advantage Fund?
Axis Value Fund: Nitin Arora, Krishnaa N. Mahindra Manulife Balanced Advantage Fund: $ Mr. Hemang Kapasi, $ Mr. Neelesh Dhamnaskar, $ Mr. Rahul Pal, $ Mr. Amit Garg.
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.