Bandhan Multi Asset Allocation Fund vs DSP Multi Asset Allocation Fund
Direct Plan, Growth option · Data as on 29-10-2026
Bandhan Multi Asset Allocation Fund and DSP Multi Asset Allocation Fund are both Multi Asset funds. In the year to 29-10-2026, Bandhan Multi Asset Allocation Fund (Direct) returned 5.0% and DSP Multi Asset Allocation Fund (Direct) returned 4.2%. Bandhan Multi Asset Allocation Fund charges 0.84% a year and DSP Multi Asset Allocation Fund 0.62% (Direct plans). Their portfolios overlap 21.0%: they hold 26 of the same securities.
Bandhan Multi Asset Allocation Fund
Multi Asset
- 1 year return
- 5.0%
- Expense ratio
- 0.84%
- NAV
- ₹14.14
DSP Multi Asset Allocation Fund
Multi Asset
- 1 year return
- 4.2%
- Expense ratio
- 0.62%
- NAV
- ₹16.05
Which is better, Bandhan Multi Asset Allocation or DSP 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.
- Bandhan Multi Asset Allocation returned more over 1 year: 5.0% against 4.2%.
- DSP Multi Asset Allocation costs less: 0.62% a year against 0.84% (Direct plans).
- DSP Multi Asset Allocation fell less in its worst fall since 01-02-2024: −9.7% against −10.0%.
- DSP Multi Asset Allocation holds 11.9% of the fund in foreign stocks; Bandhan Multi Asset Allocation 0.0%.
- Bandhan Multi Asset Allocation holds more in large companies: 39.6% of the fund in large caps against 28.7%.
- DSP Multi Asset Allocation is the larger fund: ₹10,820 Cr against ₹3,745 Cr.
- Their portfolios overlap 21.0%: 26 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 Multi Asset Allocation Fund | DSP Multi Asset Allocation Fund |
|---|---|---|
| Fund house | Bandhan Mutual Fund | DSP Mutual Fund |
| Category | Multi Asset | Multi Asset |
| AUM | ₹3,745 Cr (31-08-2026) | ₹10,820 Cr (30-09-2026) |
| NAV | ₹14.14 (Direct) | ₹16.05 (Direct) |
| Expense ratio (Direct) | 0.84% | 0.62% |
| Expense ratio (Regular) | 2.16% | 1.58% |
| Riskometer | Very High | High |
| Benchmark | 65% Nifty 500 TRI + 25% NIFTY Short Duration Debt Index + 5% Domestic prices of gold + 5% Domestic prices of silver | 40% NIFTY500 TRI + 20% NIFTY Composite Debt Index + 15% Domestic Price of Physical Gold (LBMA) + 5% iCOMDEX Composite In |
| Launch date | 31-01-2024 | 27-09-2023 |
| Minimum investment | ₹1,000 | ₹100 |
| Lock in | None | None |
| Fund managers | Viraj Kulkarni, Daylynn Pinto, Kapil Kankonkar, Gautam Kaul, Brijesh Shah, Ritika Behera, Gaurav Satra | Aparna Karnik, Shantanu Godambe, Ravi Gehani |
| Exit load | Exit Load for units in excess of 10% of the investment,0.5% will be charged for redemption within 1 year. | Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 1 months. |
Bandhan Multi Asset Allocation vs DSP Multi Asset Allocation: Returns Comparison
Returns as on 29-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.
| Fund | 1M | 3M | 6M | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|---|---|---|
| Bandhan Multi Asset Allocation Fund (Direct) | −2.01% | −3.66% | −1.20% | +5.01% | -- | -- | -- |
| DSP Multi Asset Allocation Fund (Direct) | −1.39% | −3.78% | −2.49% | +4.15% | +17.30% | -- | -- |
| Multi Asset average | −1.71% | −3.33% | −1.78% | +2.00% | +14.20% | -- | -- |
Category average: the average of the 37 Multi Asset funds, same plan type.
Bandhan Multi Asset Allocation vs DSP Multi Asset Allocation: Year-wise Returns
| Year | BandhanBandhan Multi Asset Allocation | DSPDSP Multi Asset Allocation |
|---|---|---|
| 2026to date | +0.67% | +0.30% |
| 2025 | +20.98% | +24.73% |
| 2024 | -- | +18.12% |
Bandhan Multi Asset Allocation vs DSP Multi Asset Allocation: Rolling Returns
Every holding period of both funds
Rolling returns
Every 1-year holding period, 435 of them, one for each trading day from 03-02-2025 to 29-10-2026: 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 Multi Asset Allocation Fund (Direct)
DSP Multi Asset Allocation Fund (Direct)
to
Mar 2025Jul 2024
to
Jul 2025Oct 2024
to
Oct 2025Feb 2025
to
Feb 2026May 2025
to
May 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Bandhan Multi Asset Allocation | 0.0 | 0.2 | 13.8 | 40.0 | 26.2 | 14.5 | 5.3 | 15.2% | 14.4% | 4.8% | 28.8% |
| DSP Multi Asset Allocation | 0.0 | 1.7 | 4.1 | 25.6 | 34.9 | 19.5 | 14.1 | 18.0% | 17.3% | 4.0% | 34.5% |
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. Every fund is measured over the days all of them have, from 01-02-2024. Past returns do not promise future returns.
Bandhan Multi Asset Allocation vs DSP 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
₹10,000 on the first trading day of every month, from 01-02-2024 to 29-10-2026: 33 instalments, ₹3,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Bandhan Multi Asset AllocationBandhan Multi Asset Allocation Fund (Direct) | ₹3,30,000 | ₹3,76,684 | ₹46,684 | 9.6% |
| DSP Multi Asset AllocationDSP Multi Asset Allocation Fund (Direct) | ₹3,30,000 | ₹3,82,117 | ₹52,117 | 10.7% |
Bandhan Multi Asset AllocationBandhan Multi Asset Allocation Fund (Direct)
DSP Multi Asset AllocationDSP 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.
Bandhan Multi Asset Allocation vs DSP Multi Asset Allocation: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Bandhan Multi Asset Allocation Fund (Direct) | DSP Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.01% | +4.15% |
| Standard deviation | 10.55% | 10.58% |
| Sharpe ratio | -0.02 | -0.10 |
| Sortino ratio | -0.03 | -0.14 |
| Maximum drawdown | −10.0% (23-03-2026) | −9.7% (23-03-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 29-10-2025 to 29-10-2026. 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 Multi Asset Allocation Fund (Direct) | DSP Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.42% | +16.60% |
| Standard deviation | 9.15% | 8.47% |
| Sharpe ratio | 0.82 | 1.25 |
| Sortino ratio | 1.13 | 1.73 |
| Maximum drawdown | −10.0% (23-03-2026) | −9.7% (23-03-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 01-02-2024 to 29-10-2026. 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 Multi Asset Allocation Fund (Direct)
DSP Multi Asset Allocation Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Bandhan Multi Asset Allocation Fund (Direct) | −10.0% | 29-01-2026 | 23-03-2026 | 03-07-2026 | 3 months | −6.2% |
| DSP Multi Asset Allocation Fund (Direct) | −9.7% | 29-01-2026 | 23-03-2026 | 21-08-2026 | 5 months | −6.2% |
From daily values since 01-02-2024, 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.
Bandhan Multi Asset Allocation Fund (Direct)
DSP Multi Asset Allocation Fund (Direct)
Bandhan Multi Asset Allocation vs DSP Multi Asset Allocation: Portfolio Overlap
From each fund's latest monthly portfolio: Bandhan Multi Asset Allocation Fund, August 2026; DSP Multi Asset Allocation Fund, September 2026
Holdings in common
- Overlap
- 21.0%
- Held by both
- 26
- Only in Bandhan Multi Asset Allocation
- 112
- Only in DSP Multi Asset Allocation
- 59
| Security | % of Bandhan Multi Asset Allocation | % of DSP Multi Asset Allocation |
|---|---|---|
| HDFC Bank Limited | 4.20% | 3.54% |
| ICICI Bank Limited | 3.02% | 2.79% |
| Axis Bank Limited | 2.25% | 2.98% |
| Bharti Airtel Limited | 1.80% | 2.02% |
| Reliance Industries Limited | 3.76% | 1.49% |
| Larsen & Toubro Limited | 1.47% | 1.31% |
| Maruti Suzuki India Limited | 2.10% | 0.89% |
| Mahindra & Mahindra Limited | 0.86% | 0.87% |
| NTPC Limited | 0.75% | 0.96% |
| Info Edge (India) Limited | 0.67% | 0.65% |
| Life Insurance Corporation Of India | 0.56% | 0.78% |
| Oil India Limited | 0.55% | 0.70% |
| Hero MotoCorp Limited | 0.73% | 0.49% |
| Sun Pharmaceutical Industries Limited | 0.45% | 0.50% |
| Power Grid Corporation of India Limited | 0.36% | 0.90% |
| Infosys Limited | 1.21% | 0.33% |
| Shree Cement Limited | 0.50% | 0.32% |
| Bayer Cropscience Limited | 0.32% | 0.66% |
| HDFC Life Insurance Company Limited | 0.58% | 0.23% |
| 7.3% GOI (MD 19/06/2053) | 0.44% | 0.23% |
| Atul Limited | 0.23% | 0.68% |
| Bank of Baroda | 0.98% | 0.21% |
| Tata Motors Passenger Vehicles Limited | 0.24% | 0.14% |
| Jindal Steel Limited | 0.41% | 0.11% |
| SBI Life Insurance Company Limited | 0.07% | 0.95% |
| DLF Limited | 0.05% | 0.61% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 21.0% means 21.0% 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 Multi Asset Allocation Fund
| Security | % of fund |
|---|---|
| ICICI Prudential Gold ETF | 6.68% |
| ICICI Prudential Silver ETF | 4.46% |
| Kotak Mahindra Bank Limited | 2.33% |
| Bandhan Silver ETF | 2.27% |
| Bandhan Ultra Short to Short Term Fund-DR GR | 2.02% |
Largest holdings only in DSP Multi Asset Allocation Fund
| Security | % of fund |
|---|---|
| DSP Gold ETF | 11.65% |
| DSP Nifty 50 Equal Wieght ETF | 5.38% |
| 6.90% GOI 15042065 | 4.08% |
| 6.94% GOI 11052036 | 2.10% |
| Embassy Office Parks REIT | 1.42% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Bandhan Multi Asset Allocation | DSP Multi Asset Allocation |
|---|---|---|
| Equity | 66.3% | 49.5% |
| Debt | 6.3% | 13.7% |
| Cash and others | 27.4% | 36.8% |
Market cap of stocks
| Market cap | Bandhan Multi Asset Allocation | DSP Multi Asset Allocation |
|---|---|---|
| Large Cap | 39.6% | 28.7% |
| Mid Cap | 13.8% | 4.4% |
| Small Cap | 12.9% | 4.1% |
| Foreign stocks | 0.0% | 11.9% |
| Not on AMFI's list | 0.0% | 0.5% |
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 Multi Asset Allocation | DSP Multi Asset Allocation |
|---|---|---|
| Banks | 13.5% | 10.8% |
| Finance | 6.6% | 0.0% |
| Automobiles | 4.5% | 2.4% |
| Petroleum Products | 3.8% | 2.8% |
| Pharmaceuticals & Biotechnology | 3.7% | 0.9% |
| Retailing | 3.4% | 1.9% |
| Foreign Security | 0.0% | 2.8% |
| Consumer Durables | 2.5% | 2.5% |
| IT - Hardware | 0.0% | 2.4% |
The six largest sectors of each fund's stocks, % of the fund.
Bandhan Multi Asset Allocation vs DSP Multi Asset Allocation: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Bandhan Multi Asset Allocation Fund | DSP Multi Asset Allocation Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.84% | 0.62% |
| Base expense ratio (Direct) | 0.44% | 0.37% |
| Total expense ratio (Regular) | 2.16% | 1.58% |
| Base expense ratio (Regular) | 1.57% | 1.18% |
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 Multi Asset Allocation with
Bandhan Multi Asset Allocation Fund vs DSP Multi Asset Allocation Fund: Frequently Asked Questions
What is the difference between Bandhan Multi Asset Allocation Fund and DSP Multi Asset Allocation Fund?
Both are Multi Asset funds, run by Bandhan Mutual Fund and DSP Mutual Fund. Their portfolios overlap 21.0%. Bandhan Multi Asset Allocation Fund charges 0.84% a year and DSP Multi Asset Allocation Fund 0.62%.
Which has given higher returns, Bandhan Multi Asset Allocation Fund or DSP Multi Asset Allocation Fund?
Over 1 year: Bandhan Multi Asset Allocation Fund +5.01%, DSP Multi Asset Allocation Fund +4.15%. As on 29-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Bandhan Multi Asset Allocation Fund or DSP Multi Asset Allocation Fund?
DSP Multi Asset Allocation Fund charges less: 0.62% a year against 0.84%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Bandhan Multi Asset Allocation Fund and DSP Multi Asset Allocation Fund overlap?
21.0%. They hold 26 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, AXISBANK. From each fund's latest monthly portfolio.
Which is riskier, Bandhan Multi Asset Allocation Fund or DSP Multi Asset Allocation Fund?
On SEBI's riskometer, Bandhan Multi Asset Allocation Fund is rated Very High and DSP Multi Asset Allocation Fund High. Over 1 years, the standard deviation of daily returns was 10.55% and 10.58% a year.
Can I invest in both Bandhan Multi Asset Allocation Fund and DSP Multi Asset Allocation Fund?
Yes. 21.0% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Bandhan Multi Asset Allocation Fund and DSP Multi Asset Allocation Fund?
Bandhan Multi Asset Allocation Fund: Viraj Kulkarni, Daylynn Pinto, Kapil Kankonkar, Gautam Kaul, Brijesh Shah, Ritika Behera, Gaurav Satra. DSP Multi Asset Allocation Fund: Aparna Karnik, Shantanu Godambe, Ravi Gehani.
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.