Bandhan Multi Asset Allocation Fund vs ICICI Prudential Multi Asset Allocation Fund

Direct Plan, Growth option · Data as on 29-10-2026

Bandhan Multi Asset Allocation Fund and ICICI Prudential 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 ICICI Prudential Multi Asset Allocation Fund (Direct) returned −3.7%. Bandhan Multi Asset Allocation Fund charges 0.84% a year and ICICI Prudential Multi Asset Allocation Fund 0.85% (Direct plans). Their portfolios overlap 40.3%: they hold 56 of the same securities.

Bandhan Multi Asset Allocation Fund

Multi Asset

1 year return: 5.0%
Expense ratio: 0.84%
NAV: ₹14.14

See Bandhan Multi Asset Allocation Fund

ICICI Prudential Multi Asset Allocation Fund

Multi Asset

1 year return: −3.7%
Expense ratio: 0.85%
NAV: ₹853.87

See ICICI Prudential Multi Asset Allocation Fund

Which is better, Bandhan Multi Asset Allocation or ICICI Prudential 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 −3.7%.
Bandhan Multi Asset Allocation costs less: 0.84% a year against 0.85% (Direct plans).
ICICI Prudential Multi Asset Allocation fell less in its worst fall since 01-02-2024: −9.5% against −10.0%.
ICICI Prudential Multi Asset Allocation is the larger fund: ₹84,108 Cr against ₹3,745 Cr.
Their portfolios overlap 40.3%: 56 of the same holdings.

Past returns do not promise future returns. This page is information, not investment advice.

NAV comparison

How each fund's NAV moved over the same days, as % change since the first day of the range

Bandhan Multi Asset Allocation Fund (Direct)
+41.2%
ICICI Prudential Multi Asset Allocation Fund (Direct)
+27.4%

Change in NAV from 01-02-2024 to 29-10-2026

0%+20%+40%+60%

Key facts

From each fund's scheme summary document and AMFI

Fact	Bandhan Multi Asset Allocation Fund	ICICI Prudential Multi Asset Allocation Fund
Fund house	Bandhan Mutual Fund	ICICI Prudential Mutual Fund
Category	Multi Asset	Multi Asset
AUM	₹3,745 Cr (31-08-2026)	₹84,108 Cr (30-09-2026)
NAV	₹14.14 (Direct)	₹853.87 (Direct)
Expense ratio (Direct)	0.84%	0.85%
Expense ratio (Regular)	2.16%	1.43%
Riskometer	Very High	Not available
Benchmark	65% Nifty 500 TRI + 25% NIFTY Short Duration Debt Index + 5% Domestic prices of gold + 5% Domestic prices of silver	Nifty 200 TRI (65%) + Nifty Composite Debt Index (25%) + Domestic Price of Gold (6%) + Domestic Price of Silver (1%) + i
Launch date	31-01-2024	31-10-2002
Minimum investment	₹1,000	₹500
Lock in	None	None
Fund managers	Viraj Kulkarni, Daylynn Pinto, Kapil Kankonkar, Gautam Kaul, Brijesh Shah, Ritika Behera, Gaurav Satra	Sankaran Naren, Manish Banthia, Gaurav Chikane, Sharmila D'silva, Antariksha Banerjee, Akhil Kakkar, Masoomi Jurmarvala
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 30% of the investment,1% will be charged for redemption within 365 days.

Bandhan Multi Asset Allocation vs ICICI Prudential 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%	--	--	--
ICICI Prudential Multi Asset Allocation Fund (Direct)	−1.72%	−5.05%	−3.78%	−3.66%	+12.92%	+13.95%	+14.80%
Multi Asset average	−1.71%	−3.33%	−1.78%	+2.00%	+14.20%	+12.56%	+12.92%

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

Bandhan Multi Asset Allocation vs ICICI Prudential Multi Asset Allocation: Year-wise Returns

Year	BandhanBandhan Multi Asset Allocation	ICICI PrudentialICICI Prudential Multi Asset Allocation
2026to date	+0.67%	−5.73%
2025	+20.98%	+19.46%
2024	--	+17.08%
2023	--	+24.98%
2022	--	+17.61%
2021	--	+35.54%

Bandhan Multi Asset Allocation vs ICICI Prudential 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.

−10%0%10%20%30%

Mar 2024
to
Mar 2025Jul 2024
to
Jul 2025Oct 2024
to
Oct 2025Feb 2025
to
Feb 2026May 2025
to
May 2026Sept 2025
to
Sept 2026

Bandhan Multi Asset Allocation Fund (Direct)ICICI Prudential Multi Asset Allocation Fund (Direct)

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%
ICICI Prudential Multi Asset Allocation	3.7	4.7	31.7	38.7	21.2	0.0	0.0	11.2%	11.4%	−4.3%	19.5%

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 ICICI Prudential 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

Every month₹

Step up each year

PeriodFor

₹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%
ICICI Prudential Multi Asset AllocationICICI Prudential Multi Asset Allocation Fund (Direct)	₹3,30,000	₹3,49,373	₹19,373	4.1%

₹0₹1.0 L₹2.0 L₹3.0 L₹4.0 L

20252026

Bandhan Multi Asset AllocationBandhan Multi Asset Allocation Fund (Direct)ICICI Prudential Multi Asset AllocationICICI Prudential 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 ICICI Prudential 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)	ICICI Prudential Multi Asset Allocation Fund (Direct)
Return (CAGR)	+5.01%	−3.66%
Standard deviation	10.55%	10.29%
Sharpe ratio	-0.02	-0.86
Sortino ratio	-0.03	-1.16
Maximum drawdown	−10.0% (23-03-2026)	−9.5% (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)	ICICI Prudential Multi Asset Allocation Fund (Direct)
Return (CAGR)	+13.42%	+15.43%
Standard deviation	9.15%	11.61%
Sharpe ratio	0.82	0.81
Sortino ratio	1.13	1.11
Maximum drawdown	−10.0% (23-03-2026)	−30.6% (23-03-2020)
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.

−12%−10%−8%−6%−4%−2%0%

20252026

Bandhan Multi Asset Allocation Fund (Direct)ICICI Prudential 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%
ICICI Prudential Multi Asset Allocation Fund (Direct)	−9.5%	11-02-2026	23-03-2026	Not yet	--	−7.1%

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.

0%2%4%6%8%10%12%

2026

Bandhan Multi Asset Allocation Fund (Direct)ICICI Prudential Multi Asset Allocation Fund (Direct)

Bandhan Multi Asset Allocation vs ICICI Prudential Multi Asset Allocation: Portfolio Overlap

From each fund's latest monthly portfolio: Bandhan Multi Asset Allocation Fund, August 2026; ICICI Prudential Multi Asset Allocation Fund, September 2026

Holdings in common

Overlap: 40.3%
Held by both: 56
Only in Bandhan Multi Asset Allocation: 82
Only in ICICI Prudential Multi Asset Allocation: 170

Security	% of Bandhan Multi Asset Allocation	% of ICICI Prudential Multi Asset Allocation
ICICI Prudential Gold ETF	6.68%	10.07%
HDFC Bank Limited	4.20%	6.07%
Reliance Industries Limited	3.76%	3.17%
ICICI Bank Limited	3.02%	3.57%
Axis Bank Limited	2.25%	2.34%
Bharti Airtel Limited	1.80%	1.55%
Maruti Suzuki India Limited	2.10%	1.37%
Kotak Mahindra Bank Limited	2.33%	1.30%
Bajaj Finserv Limited	1.24%	2.55%
Infosys Limited	1.21%	1.14%
ITC Limited	1.03%	1.62%
Larsen & Toubro Limited	1.47%	0.82%
NTPC Limited	0.75%	1.41%
Mahindra & Mahindra Limited	0.86%	0.70%
Tata Consultancy Services Limited	0.96%	0.67%
Info Edge (India) Limited	0.67%	0.65%
ICICI Prudential Life Insurance Company Limited	0.62%	0.68%
HDFC Life Insurance Company Limited	0.58%	0.58%
Life Insurance Corporation Of India	0.56%	3.76%
Swiggy Limited	0.53%	0.64%
Shree Cement Limited	0.50%	0.94%
Hyundai Motor India Ltd	0.59%	0.49%
Sun Pharmaceutical Industries Limited	0.45%	1.01%
ICICI Lombard General Insurance Company Limited	0.63%	0.44%
Coal India Limited	0.70%	0.41%
Avenue Supermarts Limited	0.36%	1.14%
Tata Steel Limited	0.35%	0.70%
Brigade Enterprises Limited	0.35%	0.36%
AWL Agri Business Limited	0.44%	0.34%
Vedanta Aluminium Metal Limited	0.32%	0.45%
United Breweries Limited	0.31%	0.60%
Oil & Natural Gas Corporation Limited	0.25%	0.65%
Tata Motors Passenger Vehicles Limited	0.24%	0.57%
Bharat Electronics Limited	0.24%	0.31%
Dr. Reddy's Laboratories Limited	0.42%	0.23%
IndusInd Bank Limited	0.21%	1.22%
Rainbow Childrens Medicare Limited	0.23%	0.21%
Trent Limited	0.19%	0.22%
Cipla Limited	0.82%	0.18%
Hindalco Industries Limited	0.16%	0.36%
Motherson Sumi Wiring India Limited	0.16%	0.55%
Vinati Organics Limited	0.20%	0.15%
Titan Company Limited	0.68%	0.13%
Hero MotoCorp Limited	0.73%	0.12%
Syngene International Limited	0.32%	0.12%
Jindal Steel Limited	0.41%	0.12%
Dabur India Limited	0.51%	0.11%
Oil India Limited	0.55%	0.09%
SBI Life Insurance Company Limited	0.07%	0.53%
Whirlpool of India Limited	0.21%	0.06%
Tata Chemicals Limited	0.22%	0.05%
7.53% National Bank For Agriculture and Rural Development	2.00%	0.03%
Bajaj Finance Limited	1.32%	0.02%
TVS Motor Company Limited	0.02%	0.06%
JSW Steel Limited	0.18%	0.02%
Emami Limited	0.53%	0.01%

Overlap: for each holding both funds own, the smaller of its two weights, added up. 40.3% means 40.3% 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 Silver ETF	4.46%
Bandhan Silver ETF	2.27%
Bandhan Ultra Short to Short Term Fund-DR GR	2.02%
182 Days Tbill (MD 28/01/2027)	1.57%
7.48% Indian Railway Finance Corporation Limited	1.34%

Largest holdings only in ICICI Prudential Multi Asset Allocation Fund

Security	% of fund
Government Securities	2.11%
Interglobe Aviation Ltd.	1.89%
Hindustan Unilever Ltd.	1.51%
SBI Cards & Payment Services Ltd.	1.44%
HDFC Bank Ltd.	1.33%

Asset and sector split

Share of each fund, from its latest monthly portfolio

Asset allocation

Asset	Bandhan Multi Asset Allocation	ICICI Prudential Multi Asset Allocation
Equity	66.3%	67.3%
Debt	6.3%	15.0%
Cash and others	27.4%	17.7%

Market cap of stocks

Market cap	Bandhan Multi Asset Allocation	ICICI Prudential Multi Asset Allocation
Large Cap	39.6%	49.2%
Mid Cap	13.8%	12.1%
Small Cap	12.9%	5.4%
Foreign stocks	0.0%	0.2%
Not on AMFI's list	0.0%	0.4%

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	Bandhan Multi Asset Allocation	ICICI Prudential Multi Asset Allocation
Banks	13.5%	15.5%
Finance	6.6%	4.5%
Insurance	2.7%	6.5%
Automobiles	4.5%	4.1%
Petroleum Products	3.8%	3.4%
Pharmaceuticals & Biotechnology	3.7%	2.8%
Retailing	3.4%	3.3%

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

Bandhan Multi Asset Allocation vs ICICI Prudential Multi Asset Allocation: Expense Ratio

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

Charge	Bandhan Multi Asset Allocation Fund	ICICI Prudential Multi Asset Allocation Fund
Total expense ratio (Direct)	0.84%	0.85%
Base expense ratio (Direct)	0.44%	0.57%
Total expense ratio (Regular)	2.16%	1.43%
Base expense ratio (Regular)	1.57%	1.07%

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

Compare ICICI Prudential Multi Asset Allocation with

Bandhan Multi Asset Allocation Fund vs ICICI Prudential Multi Asset Allocation Fund: Frequently Asked Questions

What is the difference between Bandhan Multi Asset Allocation Fund and ICICI Prudential Multi Asset Allocation Fund?

Both are Multi Asset funds, run by Bandhan Mutual Fund and ICICI Prudential Mutual Fund. Their portfolios overlap 40.3%. Bandhan Multi Asset Allocation Fund charges 0.84% a year and ICICI Prudential Multi Asset Allocation Fund 0.85%.

Which has given higher returns, Bandhan Multi Asset Allocation Fund or ICICI Prudential Multi Asset Allocation Fund?

Over 1 year: Bandhan Multi Asset Allocation Fund +5.01%, ICICI Prudential Multi Asset Allocation Fund −3.66%. As on 29-10-2026. Past returns do not promise future returns.

Which has the lower expense ratio, Bandhan Multi Asset Allocation Fund or ICICI Prudential Multi Asset Allocation Fund?

Bandhan Multi Asset Allocation Fund charges less: 0.84% a year against 0.85%. These are the Direct plans' total expense ratios reported to AMFI.

How much do Bandhan Multi Asset Allocation Fund and ICICI Prudential Multi Asset Allocation Fund overlap?

40.3%. They hold 56 of the same securities, the largest shared ones being GOLDIETF, HDFCBANK, RELIANCE. From each fund's latest monthly portfolio.

Can I invest in both Bandhan Multi Asset Allocation Fund and ICICI Prudential Multi Asset Allocation Fund?

Yes. 40.3% of each fund's money sits in the same holdings, so a large part of the two investments would move together.

Who manages Bandhan Multi Asset Allocation Fund and ICICI Prudential Multi Asset Allocation Fund?

Bandhan Multi Asset Allocation Fund: Viraj Kulkarni, Daylynn Pinto, Kapil Kankonkar, Gautam Kaul, Brijesh Shah, Ritika Behera, Gaurav Satra. ICICI Prudential Multi Asset Allocation Fund: Sankaran Naren, Manish Banthia, Gaurav Chikane, Sharmila D'silva, Antariksha Banerjee, Akhil Kakkar, Masoomi Jurmarvala.

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.