Bank of India Multi Asset Allocation Fund vs DSP Multi Asset Allocation Fund
Direct Plan, Growth option · Data as on 30-10-2026
Bank of India Multi Asset Allocation Fund and DSP Multi Asset Allocation Fund are both Multi Asset funds. In the year to 30-10-2026, Bank of India Multi Asset Allocation Fund (Direct) returned 3.4% and DSP Multi Asset Allocation Fund (Direct) returned 4.2%. Bank of India Multi Asset Allocation Fund charges 1.03% a year and DSP Multi Asset Allocation Fund 0.62% (Direct plans). Their portfolios overlap 17.5%: they hold 14 of the same securities.
Bank of India Multi Asset Allocation Fund
Multi Asset
- 1 year return
- 3.4%
- Expense ratio
- 1.03%
- NAV
- ₹12.40
DSP Multi Asset Allocation Fund
Multi Asset
- 1 year return
- 4.2%
- Expense ratio
- 0.62%
- NAV
- ₹16.05
Which is better, Bank of India 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.
- DSP Multi Asset Allocation returned more over 1 year: 4.2% against 3.4%.
- DSP Multi Asset Allocation costs less: 0.62% a year against 1.03% (Direct plans).
- Bank of India Multi Asset Allocation fell less in its worst fall since 01-03-2024: −9.4% against −9.7%.
- DSP Multi Asset Allocation holds 11.9% of the fund in foreign stocks; Bank of India Multi Asset Allocation 0.0%.
- DSP Multi Asset Allocation is the larger fund: ₹10,820 Cr against ₹369 Cr.
- Their portfolios overlap 17.5%: 14 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 | Bank of India Multi Asset Allocation Fund | DSP Multi Asset Allocation Fund |
|---|---|---|
| Fund house | Bank of India Mutual Fund | DSP Mutual Fund |
| Category | Multi Asset | Multi Asset |
| AUM | ₹369 Cr (30-09-2026) | ₹10,820 Cr (30-09-2026) |
| NAV | ₹12.40 (Direct) | ₹16.05 (Direct) |
| Expense ratio (Direct) | 1.03% | 0.62% |
| Expense ratio (Regular) | 2.18% | 1.58% |
| Riskometer | High | High |
| Benchmark | 40% Nifty500 TRI + 40% Nifty Composite Debt Index + 15% 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 | 28-02-2024 | 27-09-2023 |
| Minimum investment | ₹5,000 | ₹100 |
| Lock in | None | None |
| Fund managers | Mithraem Bharucha, amp, Nilesh Jethani | Aparna Karnik, Shantanu Godambe, Ravi Gehani |
| Exit load | Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 3 months. | Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 1 months. |
Bank of India Multi Asset Allocation vs DSP 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 |
|---|---|---|---|---|---|---|---|
| Bank of India Multi Asset Allocation Fund (Direct) | −3.82% | −3.73% | −2.00% | +3.36% | -- | -- | -- |
| 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.
Bank of India Multi Asset Allocation vs DSP Multi Asset Allocation: Year-wise Returns
| Year | Bank of IndiaBank of India Multi Asset Allocation | DSPDSP Multi Asset Allocation |
|---|---|---|
| 2026to date | +1.40% | +0.30% |
| 2025 | +11.42% | +24.73% |
| 2024 | -- | +18.12% |
Bank of India Multi Asset Allocation vs DSP Multi Asset Allocation: Rolling Returns
Every holding period of both funds
Rolling returns
Every 1-year holding period, 402 of them, one for each trading day from 03-03-2025 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.
Bank of India Multi Asset Allocation Fund (Direct)
DSP Multi Asset Allocation Fund (Direct)
to
Apr 2025Aug 2024
to
Aug 2025Nov 2024
to
Nov 2025Feb 2025
to
Feb 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Bank of India Multi Asset Allocation | 0.0 | 11.4 | 40.0 | 33.8 | 12.7 | 2.0 | 0.0 | 10.0% | 9.5% | 2.3% | 23.4% |
| DSP Multi Asset Allocation | 0.0 | 1.8 | 4.3 | 26.0 | 32.7 | 20.4 | 14.8 | 18.1% | 17.5% | 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 01-03-2024. Past returns do not promise future returns.
Bank of India 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 01-03-2024 to 30-10-2026: 32 instalments, ₹3,20,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Bank of India Multi Asset AllocationBank of India Multi Asset Allocation Fund (Direct) | ₹3,20,000 | ₹3,44,847 | ₹24,847 | 5.6% |
| DSP Multi Asset AllocationDSP Multi Asset Allocation Fund (Direct) | ₹3,20,000 | ₹3,67,466 | ₹47,466 | 10.4% |
Bank of India Multi Asset AllocationBank of India 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.
Bank of India 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 | Bank of India Multi Asset Allocation Fund (Direct) | DSP Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +3.36% | +4.15% |
| Standard deviation | 9.58% | 10.58% |
| Sharpe ratio | -0.20 | -0.10 |
| Sortino ratio | -0.26 | -0.14 |
| Maximum drawdown | −8.2% (23-10-2026) | −9.7% (23-03-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 | Bank of India Multi Asset Allocation Fund (Direct) | DSP Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.35% | +16.60% |
| Standard deviation | 8.97% | 8.47% |
| Sharpe ratio | 0.27 | 1.25 |
| Sortino ratio | 0.36 | 1.73 |
| Maximum drawdown | −9.4% (28-02-2025) | −9.7% (23-03-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 01-03-2024 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.
Bank of India 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 |
|---|---|---|---|---|---|---|
| Bank of India Multi Asset Allocation Fund (Direct) | −9.4% | 11-12-2024 | 28-02-2025 | 26-05-2025 | 3 months | −7.4% |
| 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 01-03-2024, 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.
Bank of India Multi Asset Allocation Fund (Direct)
DSP Multi Asset Allocation Fund (Direct)
Bank of India Multi Asset Allocation vs DSP Multi Asset Allocation: Portfolio Overlap
From each fund's latest monthly portfolio: Bank of India Multi Asset Allocation Fund, September 2026; DSP Multi Asset Allocation Fund, September 2026
Holdings in common
- Overlap
- 17.5%
- Held by both
- 14
- Only in Bank of India Multi Asset Allocation
- 50
- Only in DSP Multi Asset Allocation
- 71
| Security | % of Bank of India Multi Asset Allocation | % of DSP Multi Asset Allocation |
|---|---|---|
| DSP Gold ETF | 6.00% | 11.65% |
| ICICI Bank Limited | 2.25% | 2.79% |
| HDFC Bank Limited | 2.21% | 3.54% |
| State Bank of India | 3.12% | 1.33% |
| 6.94% Government of India (11/05/2036) | 0.89% | 2.10% |
| UltraTech Cement Limited | 1.14% | 0.80% |
| Tata Motors Ltd | 1.20% | 0.77% |
| Mahindra & Mahindra Limited | 0.74% | 0.87% |
| Bharti Airtel Limited | 0.57% | 2.02% |
| Reliance Industries Limited | 0.56% | 1.49% |
| Power Grid Corporation of India Limited | 0.51% | 0.90% |
| HDFC Asset Management Company Limited | 1.30% | 0.46% |
| 6.48% Government of India (06/10/2035) | 3.16% | 0.23% |
| Bank of Baroda | 2.52% | 0.21% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 17.5% means 17.5% 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 Bank of India Multi Asset Allocation Fund
| Security | % of fund |
|---|---|
| 7.44% Indian Railway Finance Corporation Limited (28/02/2034) | 6.64% |
| ICICI Prudential Gold ETF | 5.83% |
| 8.1167% Bajaj Finance Limited (10/05/2027) | 4.88% |
| Nippon India ETF Gold Bees | 3.38% |
| ICICI Prudential Silver ETF | 2.97% |
Largest holdings only in DSP Multi Asset Allocation Fund
| Security | % of fund |
|---|---|
| DSP Nifty 50 Equal Wieght ETF | 5.38% |
| 6.90% GOI 15042065 | 4.08% |
| Axis Bank Limited | 2.98% |
| Embassy Office Parks REIT | 1.42% |
| Larsen & Toubro Limited | 1.31% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Bank of India Multi Asset Allocation | DSP Multi Asset Allocation |
|---|---|---|
| Equity | 56.0% | 49.5% |
| Debt | 20.8% | 13.7% |
| Cash and others | 23.2% | 36.8% |
Market cap of stocks
| Market cap | Bank of India Multi Asset Allocation | DSP Multi Asset Allocation |
|---|---|---|
| Large Cap | 28.6% | 28.7% |
| Mid Cap | 4.8% | 4.4% |
| Small Cap | 22.6% | 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 | Bank of India Multi Asset Allocation | DSP Multi Asset Allocation |
|---|---|---|
| Banks | 11.1% | 10.8% |
| Capital Markets | 5.6% | 2.4% |
| Finance | 4.0% | 0.0% |
| Telecom - Equipment & Accessories | 3.8% | 0.0% |
| Electrical Equipment | 3.1% | 0.8% |
| Foreign Security | 0.0% | 2.8% |
| Petroleum Products | 0.6% | 2.8% |
| Consumer Durables | 2.4% | 2.5% |
| Automobiles | 1.4% | 2.4% |
| IT - Hardware | 0.0% | 2.4% |
The six largest sectors of each fund's stocks, % of the fund.
Bank of India Multi Asset Allocation vs DSP Multi Asset Allocation: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Bank of India Multi Asset Allocation Fund | DSP Multi Asset Allocation Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.03% | 0.62% |
| Base expense ratio (Direct) | 0.70% | 0.37% |
| Total expense ratio (Regular) | 2.18% | 1.58% |
| Base expense ratio (Regular) | 1.67% | 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 Bank of India Multi Asset Allocation with
Bank of India Multi Asset Allocation Fund vs DSP Multi Asset Allocation Fund: Frequently Asked Questions
What is the difference between Bank of India Multi Asset Allocation Fund and DSP Multi Asset Allocation Fund?
Both are Multi Asset funds, run by Bank of India Mutual Fund and DSP Mutual Fund. Their portfolios overlap 17.5%. Bank of India Multi Asset Allocation Fund charges 1.03% a year and DSP Multi Asset Allocation Fund 0.62%.
Which has given higher returns, Bank of India Multi Asset Allocation Fund or DSP Multi Asset Allocation Fund?
Over 1 year: Bank of India Multi Asset Allocation Fund +3.36%, DSP Multi Asset Allocation Fund +4.15%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Bank of India Multi Asset Allocation Fund or DSP Multi Asset Allocation Fund?
DSP Multi Asset Allocation Fund charges less: 0.62% a year against 1.03%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Bank of India Multi Asset Allocation Fund and DSP Multi Asset Allocation Fund overlap?
17.5%. They hold 14 of the same securities, the largest shared ones being GOLDADD, ICICIBANK, HDFCBANK. From each fund's latest monthly portfolio.
Which is riskier, Bank of India Multi Asset Allocation Fund or DSP Multi Asset Allocation Fund?
On SEBI's riskometer, Bank of India Multi Asset Allocation Fund is rated High and DSP Multi Asset Allocation Fund High. Over 1 years, the standard deviation of daily returns was 9.58% and 10.58% a year.
Can I invest in both Bank of India Multi Asset Allocation Fund and DSP Multi Asset Allocation Fund?
Yes. 17.5% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Bank of India Multi Asset Allocation Fund and DSP Multi Asset Allocation Fund?
Bank of India Multi Asset Allocation Fund: Mithraem Bharucha, amp, Nilesh Jethani. 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.