Bandhan Flexi Cap Fund vs Bandhan Multi Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Bandhan Flexi Cap Fund is a Flexi Cap fund and Bandhan Multi Cap Fund is a Multi Cap fund. In the 3 years to 30-10-2026, Bandhan Flexi Cap Fund (Direct) returned 10.8% a year and Bandhan Multi Cap Fund (Direct) returned 12.0% a year. Bandhan Flexi Cap Fund charges 1.52% a year and Bandhan Multi Cap Fund 0.95% (Direct plans). Their portfolios overlap 55.2%: they hold 54 of the same securities.
Bandhan Flexi Cap Fund
Flexi Cap
- 3 year return
- 10.8%
- Expense ratio
- 1.52%
- NAV
- ₹222.44
Bandhan Multi Cap Fund
Multi Cap
- 3 year return
- 12.0%
- Expense ratio
- 0.95%
- NAV
- ₹17.74
Which is better, Bandhan Flexi Cap or Bandhan 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.
- Bandhan Multi Cap returned more over 3 years: 12.0% a year against 10.8%.
- Bandhan Multi Cap returned more over 1 year: −4.8% against −5.6%.
- Bandhan Multi Cap costs less: 0.95% a year against 1.52% (Direct plans).
- Bandhan Flexi Cap swung less over 3 years: a standard deviation of 12.8% a year against 13.6%.
- Bandhan Multi Cap fell less in its worst fall since 03-12-2021: −18.3% against −20.6%.
- Bandhan Flexi Cap holds more in large companies: 72.0% of the fund in large caps against 43.8%.
- Bandhan Flexi Cap is the larger fund: ₹7,508 Cr against ₹3,074 Cr.
- Their portfolios overlap 55.2%: 54 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 | Bandhan Flexi Cap Fund | Bandhan Multi Cap Fund |
|---|---|---|
| Fund house | Bandhan Mutual Fund | Bandhan Mutual Fund |
| Category | Flexi Cap | Multi Cap |
| AUM | ₹7,508 Cr (31-08-2026) | ₹3,074 Cr (31-08-2026) |
| NAV | ₹222.44 (Direct) | ₹17.74 (Direct) |
| Expense ratio (Direct) | 1.52% | 0.95% |
| Expense ratio (Regular) | 2.20% | 2.27% |
| Riskometer | Very High | Very High |
| Benchmark | BSE 500 TRI | NIFTY 500 Multicap 50:25:25 Total Return Index |
| Launch date | 28-09-2005 | 02-12-2021 |
| Minimum investment | ₹1,000 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Manish Gunwani, Viraj Kulkarni | Daylynn Pinto, Harshal Joshi |
| Exit load | Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 1 year. | Exit load of 1% if redeemed wtihin 1 year. |
Bandhan Flexi Cap vs Bandhan 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 |
|---|---|---|---|---|---|---|---|
| Bandhan Flexi Cap Fund (Direct) | +0.60% | −4.90% | −0.95% | −5.58% | +10.81% | +8.79% | +10.55% |
| Bandhan Multi Cap Fund (Direct) | −1.86% | −6.28% | −1.26% | −4.75% | +12.01% | -- | -- |
| Flexi Cap average | −1.62% | −4.17% | +1.00% | −3.58% | +12.37% | +10.04% | +13.13% |
| Multi Cap average | −2.65% | −3.95% | +1.99% | −1.14% | +13.54% | -- | -- |
Category average: the average of the 46 Flexi Cap funds and the 33 Multi Cap funds, same plan type.
Bandhan Flexi Cap vs Bandhan Multi Cap: Year-wise Returns
| Year | FlexiBandhan Flexi Cap | MultiBandhan Multi Cap |
|---|---|---|
| 2026to date | −5.91% | −4.97% |
| 2025 | +10.03% | +6.46% |
| 2024 | +15.76% | +21.25% |
| 2023 | +25.35% | +31.66% |
| 2022 | −0.68% | +8.66% |
| 2021 | +33.15% | -- |
Bandhan Flexi Cap vs Bandhan Multi Cap: Rolling Returns
Every holding period of both funds, against BSE 500 TRI, the benchmark of Bandhan Flexi Cap Fund
Rolling returns
Every 3-year holding period, 477 of them, one for each trading day from 03-12-2024 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.
Bandhan Flexi Cap Fund (Direct)
Bandhan Multi Cap Fund (Direct)
BSE 500 TRI
to
Jan 2025May 2022
to
May 2025Sept 2022
to
Sept 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Bandhan Flexi Cap | 0.0 | 0.0 | 3.4 | 43.2 | 47.8 | 5.7 | 0.0 | 15.1% | 15.2% | 9.1% | 22.4% | 62% |
| Bandhan Multi Cap | 0.0 | 0.0 | 0.0 | 13.2 | 62.7 | 21.0 | 3.1 | 18.3% | 18.4% | 11.0% | 26.4% | 100% |
| BSE 500 TRI | 0.0 | 0.0 | 5.0 | 40.7 | 48.6 | 5.7 | 0.0 | 15.0% | 15.2% | 8.4% | 22.0% | -- |
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 BSE 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 03-12-2021. Past returns do not promise future returns.
Bandhan Flexi Cap vs Bandhan 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 01-12-2021 to 30-10-2026: 59 instalments, ₹5,90,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Bandhan Flexi CapBandhan Flexi Cap Fund (Direct) | ₹5,90,000 | ₹7,22,247 | ₹1,32,247 | 8.2% |
| Bandhan Multi CapBandhan Multi Cap Fund (Direct) | ₹5,90,000 | ₹7,54,643 | ₹1,64,643 | 10.0% |
Bandhan Flexi CapBandhan Flexi Cap Fund (Direct)
Bandhan Multi CapBandhan 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.
Bandhan Flexi Cap vs Bandhan Multi Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Bandhan Flexi Cap Fund (Direct) | Bandhan Multi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −5.58% | −4.75% |
| Standard deviation | 12.99% | 13.79% |
| Sharpe ratio | -0.83 | -0.72 |
| Sortino ratio | -1.13 | -0.97 |
| Maximum drawdown | −13.9% (31-03-2026) | −14.6% (30-03-2026) |
| Beta | 0.89 | 0.90 |
| Alpha | +0.60% | +0.19% |
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 | Bandhan Flexi Cap Fund (Direct) | Bandhan Multi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.81% | +12.01% |
| Standard deviation | 12.84% | 13.57% |
| Sharpe ratio | 0.37 | 0.44 |
| Sortino ratio | 0.51 | 0.60 |
| Maximum drawdown | −16.9% (07-04-2025) | −18.3% (03-03-2025) |
| Beta | 0.89 | 0.88 |
| Alpha | +1.36% | +1.38% |
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 | Bandhan Flexi Cap Fund (Direct) | Bandhan Multi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.09% | +12.37% |
| Standard deviation | 14.55% | 13.20% |
| Sharpe ratio | 0.48 | 0.49 |
| Sortino ratio | 0.65 | 0.67 |
| Maximum drawdown | −36.9% (23-03-2020) | −18.3% (03-03-2025) |
| Beta | 0.87 | 0.85 |
| Alpha | +1.17% | +2.26% |
From daily NAVs, 02-01-2013 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.
Bandhan Flexi Cap Fund (Direct)
Bandhan Multi Cap Fund (Direct)
BSE 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Bandhan Flexi Cap Fund (Direct) | −20.6% | 17-01-2022 | 17-06-2022 | 28-06-2023 | 12 months | −6.7% |
| Bandhan Multi Cap Fund (Direct) | −18.3% | 26-09-2024 | 03-03-2025 | 03-08-2026 | 17 months | −7.7% |
| BSE 500 TRI | −18.7% | 26-09-2024 | 28-02-2025 | Not yet | -- | −9.4% |
From daily values since 03-12-2021, 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.
Bandhan Flexi Cap Fund (Direct)
Bandhan Multi Cap Fund (Direct)
BSE 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.
Bandhan Flexi Cap Fund (Direct)
Bandhan Multi Cap Fund (Direct)
BSE 500 TRI
Against BSE 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Bandhan Flexi Cap Fund (Direct) | 89% | 86% | 3.73% |
| Bandhan Multi Cap Fund (Direct) | 101% | 82% | 3.31% |
From month-end values since 03-12-2021. 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.
Bandhan Flexi Cap vs Bandhan Multi Cap: Portfolio Overlap
From each fund's latest monthly portfolio: Bandhan Flexi Cap Fund, August 2026; Bandhan Multi Cap Fund, August 2026
Holdings in common
- Overlap
- 55.2%
- Held by both
- 54
- Only in Bandhan Flexi Cap
- 24
- Only in Bandhan Multi Cap
- 54
| Security | % of Bandhan Flexi Cap | % of Bandhan Multi Cap |
|---|---|---|
| HDFC Bank Limited | 8.50% | 5.88% |
| Reliance Industries Limited | 5.27% | 3.95% |
| Kotak Mahindra Bank Limited | 3.85% | 3.96% |
| ICICI Bank Limited | 8.00% | 3.31% |
| Tata Consultancy Services Limited | 2.71% | 2.73% |
| Axis Bank Limited | 3.90% | 2.11% |
| Infosys Limited | 3.47% | 2.03% |
| Maruti Suzuki India Limited | 2.89% | 1.85% |
| Larsen & Toubro Limited | 1.89% | 1.51% |
| Bharti Airtel Limited | 3.50% | 1.47% |
| ITC Limited | 2.89% | 1.41% |
| V-Mart Retail Limited | 1.34% | 1.52% |
| HDFC Life Insurance Company Limited | 1.70% | 1.24% |
| Sterlite Technologies Limited | 1.20% | 1.48% |
| ICICI Lombard General Insurance Company Limited | 1.15% | 1.53% |
| Eternal Limited | 1.97% | 1.07% |
| Poonawalla Fincorp Limited | 1.00% | 1.51% |
| Bajaj Finserv Limited | 2.42% | 0.99% |
| Hindustan Unilever Limited | 1.18% | 0.96% |
| Life Insurance Corporation Of India | 1.17% | 0.95% |
| Hero MotoCorp Limited | 1.23% | 0.89% |
| Emami Limited | 0.95% | 0.86% |
| Sun Pharmaceutical Industries Limited | 1.06% | 0.81% |
| Jindal Steel Limited | 0.79% | 0.89% |
| NTPC Limited | 1.09% | 0.75% |
| Info Edge (India) Limited | 0.68% | 0.75% |
| ICICI Prudential Life Insurance Company Limited | 1.21% | 0.67% |
| Bayer Cropscience Limited | 0.67% | 0.84% |
| Titan Company Limited | 1.43% | 0.66% |
| Havells India Limited | 0.66% | 0.65% |
| Shree Cement Limited | 1.05% | 0.64% |
| Petronet LNG Limited | 0.60% | 0.81% |
| Dalmia Bharat Limited | 0.70% | 0.51% |
| Cipla Limited | 1.36% | 0.46% |
| Dr. Reddy's Laboratories Limited | 0.46% | 1.13% |
| Oil & Natural Gas Corporation Limited | 1.54% | 0.45% |
| Trent Limited | 0.69% | 0.42% |
| KEC International Limited | 0.44% | 0.41% |
| Cera Sanitaryware Limited | 0.61% | 0.37% |
| Cholamandalam Financial Holdings Limited | 1.42% | 0.36% |
| Syngene International Limited | 0.67% | 0.36% |
| Swiggy Limited | 0.36% | 0.83% |
| Mahanagar Gas Limited | 0.48% | 0.35% |
| Vedanta Aluminium Metal Limited | 0.81% | 0.28% |
| JK Lakshmi Cement Limited | 0.64% | 0.26% |
| Mas Financial Services Limited | 0.26% | 0.84% |
| Indraprastha Gas Limited | 0.24% | 0.24% |
| Varun Beverages Limited | 1.09% | 0.23% |
| Pfizer Limited | 0.23% | 0.69% |
| DLF Limited | 0.18% | 0.34% |
| Rallis India Limited | 0.14% | 0.47% |
| GlaxoSmithKline Pharmaceuticals Limited | 0.08% | 1.19% |
| Finolex Industries Limited | 0.08% | 0.77% |
| Crompton Greaves Consumer Electricals Limited | 0.08% | 0.65% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 55.2% means 55.2% 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 Bandhan Flexi Cap Fund
| Security | % of fund |
|---|---|
| Coal India Limited | 1.28% |
| SBI Life Insurance Company Limited | 1.28% |
| Hyundai Motor India Ltd | 1.17% |
| Power Grid Corporation of India Limited | 0.70% |
| 364 Days Tbill (MD 04/02/2027) | 0.65% |
Largest holdings only in Bandhan Multi Cap Fund
| Security | % of fund |
|---|---|
| Mahindra & Mahindra Financial Services Limited | 1.82% |
| IDFC First Bank Limited | 1.40% |
| Avenue Supermarts Limited | 1.14% |
| Aurobindo Pharma Limited | 1.12% |
| Oil India Limited | 1.10% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Bandhan Flexi Cap | Bandhan Multi Cap |
|---|---|---|
| Equity | 94.7% | 96.0% |
| Debt | 0.7% | 0.0% |
| Cash and others | 4.6% | 4.0% |
Market cap of stocks
| Market cap | Bandhan Flexi Cap | Bandhan Multi Cap |
|---|---|---|
| Large Cap | 72.0% | 43.8% |
| Mid Cap | 9.9% | 26.2% |
| Small Cap | 12.8% | 26.1% |
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
| Sector | Bandhan Flexi Cap | Bandhan Multi Cap |
|---|---|---|
| Banks | 24.3% | 18.0% |
| Pharmaceuticals & Biotechnology | 3.7% | 7.5% |
| IT - Software | 6.7% | 5.0% |
| Insurance | 6.5% | 5.2% |
| Finance | 5.3% | 6.5% |
| Retailing | 5.0% | 6.0% |
| Automobiles | 5.5% | 2.7% |
| Petroleum Products | 5.3% | 4.0% |
The six largest sectors of each fund's stocks, % of the fund.
Bandhan Flexi Cap vs Bandhan Multi Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Bandhan Flexi Cap Fund | Bandhan Multi Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.52% | 0.95% |
| Base expense ratio (Direct) | 0.96% | 0.54% |
| Total expense ratio (Regular) | 2.20% | 2.27% |
| Base expense ratio (Regular) | 1.54% | 1.68% |
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 Bandhan Flexi Cap with
Bandhan Flexi Cap Fund vs Bandhan Multi Cap Fund: Frequently Asked Questions
What is the difference between Bandhan Flexi Cap Fund and Bandhan Multi Cap Fund?
Bandhan Flexi Cap Fund is a Flexi Cap fund, Bandhan Multi Cap Fund is a Multi Cap fund, run by Bandhan Mutual Fund. Their portfolios overlap 55.2%. Bandhan Flexi Cap Fund charges 1.52% a year and Bandhan Multi Cap Fund 0.95%.
Which has given higher returns, Bandhan Flexi Cap Fund or Bandhan Multi Cap Fund?
Over 1 year: Bandhan Flexi Cap Fund −5.58%, Bandhan Multi Cap Fund −4.75%. Over 3 years: Bandhan Flexi Cap Fund +10.81% a year, Bandhan Multi Cap Fund +12.01% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Bandhan Flexi Cap Fund or Bandhan Multi Cap Fund?
Bandhan Multi Cap Fund charges less: 0.95% a year against 1.52%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Bandhan Flexi Cap Fund and Bandhan Multi Cap Fund overlap?
55.2%. They hold 54 of the same securities, the largest shared ones being HDFCBANK, RELIANCE, KOTAKBANK. From each fund's latest monthly portfolio.
Which is riskier, Bandhan Flexi Cap Fund or Bandhan Multi Cap Fund?
On SEBI's riskometer, Bandhan Flexi Cap Fund is rated Very High and Bandhan Multi Cap Fund Very High. Over 3 years, the standard deviation of daily returns was 12.84% and 13.57% a year.
Which is better for SIP, Bandhan Flexi Cap Fund or Bandhan Multi Cap Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹3,87,633 in Bandhan Flexi Cap Fund (XIRR 3.0% a year) and ₹3,88,753 in Bandhan Multi Cap Fund (XIRR 3.2% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both Bandhan Flexi Cap Fund and Bandhan Multi Cap Fund?
Yes. 55.2% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Bandhan Flexi Cap Fund and Bandhan Multi Cap Fund?
Bandhan Flexi Cap Fund: Manish Gunwani, Viraj Kulkarni. Bandhan Multi Cap Fund: Daylynn Pinto, Harshal Joshi.
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.