Bandhan Nifty 100 Index Fund vs Mahindra Manulife Multi Asset Allocation Fund
Direct Plan, Growth option · Data as on 30-10-2026
Bandhan Nifty 100 Index Fund is an Index fund and Mahindra Manulife Multi Asset Allocation Fund is a Multi Asset fund. In the year to 30-10-2026, Bandhan Nifty 100 Index Fund (Direct) returned −8.8% and Mahindra Manulife Multi Asset Allocation Fund (Direct) returned 4.2%. Bandhan Nifty 100 Index Fund charges 0.18% a year and Mahindra Manulife Multi Asset Allocation Fund 0.58% (Direct plans). Their portfolios overlap 32.7%: they hold 33 of the same securities.
Bandhan Nifty 100 Index Fund
Index
- 1 year return
- −8.8%
- Expense ratio
- 0.18%
- NAV
- ₹14.41
Mahindra Manulife Multi Asset Allocation Fund
Multi Asset
- 1 year return
- 4.2%
- Expense ratio
- 0.58%
- NAV
- ₹13.92
Which is better, Bandhan Nifty 100 Index or Mahindra Manulife 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.
- Mahindra Manulife Multi Asset Allocation returned more over 1 year: 4.2% against −8.8%.
- Bandhan Nifty 100 Index costs less: 0.18% a year against 0.58% (Direct plans).
- Mahindra Manulife Multi Asset Allocation fell less in its worst fall since 15-03-2024: −9.5% against −17.3%.
- Bandhan Nifty 100 Index holds more in large companies: 97.9% of the fund in large caps against 35.1%.
- Mahindra Manulife Multi Asset Allocation is the larger fund: ₹1,214 Cr against ₹266 Cr.
- Their portfolios overlap 32.7%: 33 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 Nifty 100 Index Fund | Mahindra Manulife Multi Asset Allocation Fund |
|---|---|---|
| Fund house | Bandhan Mutual Fund | Mahindra Manulife Mutual Fund |
| Category | Index | Multi Asset |
| AUM | ₹266 Cr (31-08-2026) | ₹1,214 Cr (30-09-2026) |
| NAV | ₹14.41 (Direct) | ₹13.92 (Direct) |
| Expense ratio (Direct) | 0.18% | 0.58% |
| Expense ratio (Regular) | 0.68% | 1.89% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 100 TRI | NIFTY 500 TRI 45% + CRISIL Composite Bond Index 40% + Domestic Price of Physical Gold 10% + Domestic Price of Silver 5% |
| Launch date | 24-02-2022 | 13-03-2024 |
| Minimum investment | ₹1,000 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Abhishek Jain | Renjith Sivaram, Rahul Pal, Kush Sonigara |
| Exit load | Nil | Exit load of 0.5%, if redeemed within 3 months. |
Bandhan Nifty 100 Index vs Mahindra Manulife 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.
| Fund | 1M | 3M | 6M | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|---|---|---|
| Bandhan Nifty 100 Index Fund (Direct) | +1.03% | −5.35% | −3.06% | −8.85% | +8.87% | -- | -- |
| Mahindra Manulife Multi Asset Allocation Fund (Direct) | −1.20% | −2.61% | +0.40% | +4.23% | -- | -- | -- |
| Multi Asset average | −1.71% | −3.33% | −1.78% | +2.00% | -- | -- | -- |
Category average: the average of the 37 Multi Asset funds, same plan type.
Bandhan Nifty 100 Index vs Mahindra Manulife Multi Asset Allocation: Year-wise Returns
| Year | Bandhan Nifty 100 IndexBandhan Nifty 100 Index | Mahindra Manulife Multi Asset AllocationMahindra Manulife Multi Asset Allocation |
|---|---|---|
| 2026to date | −9.46% | +1.10% |
| 2025 | +10.06% | +22.74% |
| 2024 | +12.69% | -- |
| 2023 | +21.06% | -- |
Bandhan Nifty 100 Index vs Mahindra Manulife Multi Asset Allocation: Rolling Returns
Every holding period of both funds, against Nifty 100 TRI, the benchmark of Bandhan Nifty 100 Index Fund
Rolling returns
Every 1-year holding period, 406 of them, one for each trading day from 17-03-2025 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.
Bandhan Nifty 100 Index Fund (Direct)
Mahindra Manulife Multi Asset Allocation Fund (Direct)
Nifty 100 TRI
to
May 2025Aug 2024
to
Aug 2025Nov 2024
to
Nov 2025Mar 2025
to
Mar 2026Jun 2025
to
Jun 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 | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Bandhan Nifty 100 Index | 35.7 | 25.6 | 27.3 | 10.6 | 0.7 | 0.0 | 0.0 | 2.9% | 2.7% | −10.6% | 16.2% | 1% |
| Mahindra Manulife Multi Asset Allocation | 0.0 | 2.5 | 10.7 | 31.9 | 34.7 | 14.5 | 5.7 | 15.7% | 15.8% | 3.1% | 29.5% | 100% |
| Nifty 100 TRI | 35.0 | 25.4 | 27.3 | 11.6 | 0.7 | 0.0 | 0.0 | 3.1% | 2.8% | −10.5% | 16.4% | -- |
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 100 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 15-03-2024. Past returns do not promise future returns.
Bandhan Nifty 100 Index vs Mahindra Manulife 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 01-03-2024 to 30-10-2026: 32 instalments, ₹3,20,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Bandhan Nifty 100 IndexBandhan Nifty 100 Index Fund (Direct) | ₹3,20,000 | ₹3,12,097 | −₹7,903 | −1.8% |
| Mahindra Manulife Multi Asset AllocationMahindra Manulife Multi Asset Allocation Fund (Direct) | ₹3,20,000 | ₹3,66,322 | ₹46,322 | 10.2% |
Bandhan Nifty 100 IndexBandhan Nifty 100 Index Fund (Direct)
Mahindra Manulife Multi Asset AllocationMahindra Manulife 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 Nifty 100 Index vs Mahindra Manulife Multi Asset Allocation: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Bandhan Nifty 100 Index Fund (Direct) | Mahindra Manulife Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | −8.85% | +4.23% |
| Standard deviation | 13.89% | 10.26% |
| Sharpe ratio | -1.02 | -0.10 |
| Sortino ratio | -1.35 | -0.13 |
| Maximum drawdown | −14.9% (30-03-2026) | −9.5% (23-03-2026) |
| Beta | 1.00 | -- |
| Alpha | −0.17% | -- |
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 Nifty 100 Index Fund (Direct) | Mahindra Manulife Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.81% | +13.34% |
| Standard deviation | 13.41% | 8.92% |
| Sharpe ratio | 0.21 | 0.83 |
| Sortino ratio | 0.29 | 1.13 |
| Maximum drawdown | −17.3% (28-02-2025) | −9.5% (23-03-2026) |
| Beta | 1.00 | -- |
| Alpha | −0.20% | -- |
From daily NAVs, 25-02-2022 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 Nifty 100 Index Fund (Direct)
Mahindra Manulife Multi Asset Allocation Fund (Direct)
Nifty 100 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Bandhan Nifty 100 Index Fund (Direct) | −17.3% | 26-09-2024 | 28-02-2025 | Not yet | -- | −10.3% |
| Mahindra Manulife Multi Asset Allocation Fund (Direct) | −9.5% | 29-01-2026 | 23-03-2026 | 03-08-2026 | 4 months | −5.2% |
| Nifty 100 TRI | −17.2% | 26-09-2024 | 28-02-2025 | 02-01-2026 | 10 months | −10.1% |
From daily values since 15-03-2024, 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 Nifty 100 Index Fund (Direct)
Mahindra Manulife Multi Asset Allocation Fund (Direct)
Nifty 100 TRI
Against Nifty 100 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Bandhan Nifty 100 Index Fund (Direct) | 99% | 100% | 0.04% |
| Mahindra Manulife Multi Asset Allocation Fund (Direct) | 80% | 23% | 7.96% |
From month-end values since 15-03-2024. 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.
Bandhan Nifty 100 Index vs Mahindra Manulife Multi Asset Allocation: Portfolio Overlap
From each fund's latest monthly portfolio: Bandhan Nifty 100 Index Fund, August 2026; Mahindra Manulife Multi Asset Allocation Fund, September 2026
Holdings in common
- Overlap
- 32.7%
- Held by both
- 33
- Only in Bandhan Nifty 100 Index
- 67
- Only in Mahindra Manulife Multi Asset Allocation
- 48
| Security | % of Bandhan Nifty 100 Index | % of Mahindra Manulife Multi Asset Allocation |
|---|---|---|
| HDFC Bank Limited | 8.13% | 3.50% |
| ICICI Bank Limited | 7.80% | 3.39% |
| Bharti Airtel Limited | 4.12% | 2.08% |
| Reliance Industries Limited | 6.46% | 1.99% |
| State Bank of India | 3.28% | 1.62% |
| Kotak Mahindra Bank Limited | 2.31% | 1.40% |
| Axis Bank Limited | 2.80% | 1.24% |
| Sun Pharmaceutical Industries Limited | 1.57% | 1.05% |
| Infosys Limited | 2.98% | 0.99% |
| Larsen & Toubro Limited | 3.54% | 0.98% |
| Eternal Limited | 1.78% | 0.98% |
| NTPC Limited | 1.16% | 0.94% |
| Tata Steel Limited | 1.14% | 0.92% |
| Divi's Laboratories Limited | 0.90% | 2.02% |
| Bajaj Finance Limited | 2.12% | 0.85% |
| Mahindra & Mahindra Limited | 2.19% | 0.81% |
| Tech Mahindra Limited | 0.77% | 1.01% |
| Grasim Industries Limited | 0.95% | 0.72% |
| Shriram Finance Limited | 1.16% | 0.71% |
| Hindustan Aeronautics Limited | 0.68% | 0.73% |
| Power Grid Corporation of India Limited | 0.89% | 0.60% |
| TVS Motor Company Limited | 0.76% | 0.60% |
| Oil & Natural Gas Corporation Limited | 0.67% | 0.59% |
| SBI Life Insurance Company Limited | 0.59% | 0.56% |
| Bharat Electronics Limited | 1.11% | 0.55% |
| Hindalco Industries Limited | 1.10% | 0.53% |
| Tata Motors Ltd | 0.74% | 0.53% |
| Tata Consumer Products Limited | 0.51% | 0.53% |
| Hindustan Unilever Limited | 1.31% | 0.49% |
| Tata Power Company Limited | 0.43% | 0.89% |
| Union Bank of India | 0.27% | 0.62% |
| Hyundai Motor India Ltd | 0.24% | 0.64% |
| Shree Cement Limited | 0.23% | 0.57% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 32.7% means 32.7% 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 Bandhan Nifty 100 Index Fund
| Security | % of fund |
|---|---|
| ITC Limited | 1.84% |
| Tata Consultancy Services Limited | 1.83% |
| Titan Company Limited | 1.58% |
| Maruti Suzuki India Limited | 1.32% |
| HCL Technologies Limited | 1.04% |
Largest holdings only in Mahindra Manulife Multi Asset Allocation Fund
| Security | % of fund |
|---|---|
| ICICI Prudential Gold ETF | 12.32% |
| Mahindra Manulife Liquid Fund -Direct Plan -Growth | 4.94% |
| Brookfield India Real Estate Trust | 3.36% |
| 8.42% Muthoot Finance Limited 2029 (FRN) | 3.09% |
| Nippon India Silver ETF | 2.87% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Bandhan Nifty 100 Index | Mahindra Manulife Multi Asset Allocation |
|---|---|---|
| Equity | 101.5% | 52.2% |
| Debt | 0.0% | 19.4% |
| Cash and others | -1.5% | 28.4% |
Market cap of stocks
| Market cap | Bandhan Nifty 100 Index | Mahindra Manulife Multi Asset Allocation |
|---|---|---|
| Large Cap | 97.9% | 35.1% |
| Mid Cap | 3.6% | 6.7% |
| Small Cap | 0.0% | 10.4% |
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 Nifty 100 Index | Mahindra Manulife Multi Asset Allocation |
|---|---|---|
| Banks | 25.5% | 11.8% |
| Petroleum Products | 7.3% | 2.0% |
| IT - Software | 7.3% | 3.0% |
| Finance | 6.9% | 2.2% |
| Automobiles | 6.8% | 2.0% |
| Pharmaceuticals & Biotechnology | 4.4% | 4.6% |
| Power | 3.8% | 2.4% |
| Industrial Products | 0.5% | 3.4% |
| Retailing | 3.0% | 2.3% |
The six largest sectors of each fund's stocks, % of the fund.
Bandhan Nifty 100 Index vs Mahindra Manulife Multi Asset Allocation: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Bandhan Nifty 100 Index Fund | Mahindra Manulife Multi Asset Allocation Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.18% | 0.58% |
| Base expense ratio (Direct) | 0.08% | 0.41% |
| Total expense ratio (Regular) | 0.68% | 1.89% |
| Base expense ratio (Regular) | 0.51% | 1.56% |
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
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Bandhan Nifty 100 Index Fund vs Mahindra Manulife Multi Asset Allocation Fund: Frequently Asked Questions
What is the difference between Bandhan Nifty 100 Index Fund and Mahindra Manulife Multi Asset Allocation Fund?
Bandhan Nifty 100 Index Fund is an Index fund, Mahindra Manulife Multi Asset Allocation Fund is a Multi Asset fund, run by Bandhan Mutual Fund and Mahindra Manulife Mutual Fund. Their portfolios overlap 32.7%. Bandhan Nifty 100 Index Fund charges 0.18% a year and Mahindra Manulife Multi Asset Allocation Fund 0.58%.
Which has given higher returns, Bandhan Nifty 100 Index Fund or Mahindra Manulife Multi Asset Allocation Fund?
Over 1 year: Bandhan Nifty 100 Index Fund −8.85%, Mahindra Manulife Multi Asset Allocation Fund +4.23%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Bandhan Nifty 100 Index Fund or Mahindra Manulife Multi Asset Allocation Fund?
Bandhan Nifty 100 Index Fund charges less: 0.18% a year against 0.58%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Bandhan Nifty 100 Index Fund and Mahindra Manulife Multi Asset Allocation Fund overlap?
32.7%. They hold 33 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, BHARTIARTL. From each fund's latest monthly portfolio.
Which is riskier, Bandhan Nifty 100 Index Fund or Mahindra Manulife Multi Asset Allocation Fund?
On SEBI's riskometer, Bandhan Nifty 100 Index Fund is rated Very High and Mahindra Manulife Multi Asset Allocation Fund Very High. Over 1 years, the standard deviation of daily returns was 13.89% and 10.26% a year.
Can I invest in both Bandhan Nifty 100 Index Fund and Mahindra Manulife Multi Asset Allocation Fund?
Yes. 32.7% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Bandhan Nifty 100 Index Fund and Mahindra Manulife Multi Asset Allocation Fund?
Bandhan Nifty 100 Index Fund: Abhishek Jain. Mahindra Manulife Multi Asset Allocation Fund: Renjith Sivaram, Rahul Pal, Kush Sonigara.
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.