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    Baroda BNP Paribas Multi Asset Fund vs DSP Multi Asset Allocation Fund

    Direct Plan, Growth option · Data as on 30-10-2026

    Baroda BNP Paribas Multi Asset Fund and DSP Multi Asset Allocation Fund are both Multi Asset funds. In the 3 years to 30-10-2026, Baroda BNP Paribas Multi Asset Fund (Direct) returned 13.3% a year and DSP Multi Asset Allocation Fund (Direct) returned 17.3% a year. Baroda BNP Paribas Multi Asset Fund charges 0.89% a year and DSP Multi Asset Allocation Fund 0.62% (Direct plans). Their portfolios overlap 20.2%: they hold 20 of the same securities.

    Baroda BNP Paribas Multi Asset Fund

    Multi Asset

    3 year return
    13.3%
    Expense ratio
    0.89%
    NAV
    ₹16.15
    See Baroda BNP Paribas Multi Asset Fund

    DSP Multi Asset Allocation Fund

    Multi Asset

    3 year return
    17.3%
    Expense ratio
    0.62%
    NAV
    ₹16.05
    See DSP Multi Asset Allocation Fund

    Which is better, Baroda BNP Paribas Multi Asset 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 3 years: 17.3% a year against 13.3%.
    • DSP Multi Asset Allocation returned more over 1 year: 4.2% against −0.3%.
    • DSP Multi Asset Allocation costs less: 0.62% a year against 0.89% (Direct plans).
    • DSP Multi Asset Allocation swung less over 3 years: a standard deviation of 8.5% a year against 10.8%.
    • DSP Multi Asset Allocation fell less in its worst fall since 29-09-2023: −9.7% against −11.9%.
    • DSP Multi Asset Allocation holds 11.9% of the fund in foreign stocks; Baroda BNP Paribas Multi Asset 0.0%.
    • Baroda BNP Paribas Multi Asset holds more in large companies: 47.1% of the fund in large caps against 28.7%.
    • DSP Multi Asset Allocation is the larger fund: ₹10,820 Cr against ₹1,398 Cr.
    • Their portfolios overlap 20.2%: 20 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

    FactBaroda BNP Paribas Multi Asset FundDSP Multi Asset Allocation Fund
    Fund houseBaroda BNP Paribas Mutual FundDSP Mutual Fund
    CategoryMulti AssetMulti Asset
    AUM₹1,398 Cr (30-09-2026)₹10,820 Cr (30-09-2026)
    NAV₹16.15 (Direct)₹16.05 (Direct)
    Expense ratio (Direct)0.89%0.62%
    Expense ratio (Regular)2.04%1.58%
    RiskometerNot availableHigh
    BenchmarkNot available40% NIFTY500 TRI + 20% NIFTY Composite Debt Index + 15% Domestic Price of Physical Gold (LBMA) + 5% iCOMDEX Composite In
    Launch dateNot available27-09-2023
    Minimum investmentNot available₹100
    Lock inNot availableNone
    Fund managersNot availableAparna Karnik, Shantanu Godambe, Ravi Gehani
    Exit loadNot availableExit Load for units in excess of 10% of the investment,1% will be charged for redemption within 1 months.

    Baroda BNP Paribas Multi Asset 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.

    Fund1M3M6M1Y3Y5Y10Y
    Baroda BNP Paribas Multi Asset Fund (Direct)−1.53%−4.77%−3.91%−0.27%+13.33%----
    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.

    Baroda BNP Paribas Multi Asset vs DSP Multi Asset Allocation: Year-wise Returns

    YearBaroda BNP Paribas Multi AssetBaroda BNP Paribas Multi AssetDSP Multi Asset AllocationDSP Multi Asset Allocation
    2026to date−2.74%+0.30%
    2025+15.03%+24.73%
    2024+15.91%+18.12%
    2023+24.70%--

    Baroda BNP Paribas Multi Asset vs DSP Multi Asset Allocation: Rolling Returns

    Every holding period of both funds

    Rolling returns

    Every 3-year holding period, 20 of them, one for each trading day from 29-09-2026 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.

    0%5%10%15%20%
    Oct 2023
    to
    Oct 2026    Oct 2023
    to
    Oct 2026    Oct 2023
    to
    Oct 2026    Oct 2023
    to
    Oct 2026    Oct 2023
    to
    Oct 2026    Oct 2023
    to
    Oct 2026
    Baroda BNP Paribas Multi Asset Fund (Direct)DSP Multi Asset Allocation Fund (Direct)

    How the periods spread

    FundBelow 0%0-5%5-10%10-15%15-20%20-25%Above 25%MeanMedianLowestHighest
    Baroda BNP Paribas Multi Asset0.00.00.0100.00.00.00.013.4%13.3%12.6%13.9%
    DSP Multi Asset Allocation0.00.00.00.0100.00.00.017.3%17.3%16.7%17.9%

    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 29-09-2023. Past returns do not promise future returns.

    Baroda BNP Paribas Multi Asset 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

    Step up each year
    PeriodFor

    ₹10,000 on the first trading day of every month, from 01-09-2023 to 30-10-2026: 38 instalments, ₹3,80,000 in all.

    InvestmentInvestedValue nowGainReturn a year
    Baroda BNP Paribas Multi AssetBaroda BNP Paribas Multi Asset Fund (Direct) ₹3,80,000 ₹4,22,210 ₹42,210 6.6%
    DSP Multi Asset AllocationDSP Multi Asset Allocation Fund (Direct) ₹3,80,000 ₹4,60,418 ₹80,418 12.3%
    ₹0₹1.0 L₹2.0 L₹3.0 L₹4.0 L₹5.0 L
    202420252026
    Baroda BNP Paribas Multi AssetBaroda BNP Paribas Multi Asset 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.

    Baroda BNP Paribas Multi Asset vs DSP Multi Asset Allocation: Risk and Drawdowns

    How much each fund swings, and the worst fall over the same days

    Risk and return

    MeasureBaroda BNP Paribas Multi Asset Fund (Direct)DSP Multi Asset Allocation Fund (Direct)
    Return (CAGR)+13.33%+17.30%
    Standard deviation10.85%8.55%
    Sharpe ratio0.671.32
    Sortino ratio0.931.84
    Maximum drawdown−11.9% (28-02-2025)−9.7% (23-03-2026)
    Beta----
    Alpha----

    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.

    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%
    202420252026
    Baroda BNP Paribas Multi Asset Fund (Direct)DSP Multi Asset Allocation Fund (Direct)
    FundWorst fallHigh before itBottomBack at the highTime to climb backBelow its high today
    Baroda BNP Paribas Multi Asset Fund (Direct)−11.9%27-09-202428-02-202526-06-20254 months−7.6%
    DSP Multi Asset Allocation Fund (Direct)−9.7%29-01-202623-03-202621-08-20265 months−6.2%

    From daily values since 29-09-2023, 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 3-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%
    Baroda BNP Paribas Multi Asset Fund (Direct)DSP Multi Asset Allocation Fund (Direct)

    Baroda BNP Paribas Multi Asset vs DSP Multi Asset Allocation: Portfolio Overlap

    From each fund's latest monthly portfolio: Baroda BNP Paribas Multi Asset Fund, September 2026; DSP Multi Asset Allocation Fund, September 2026

    Holdings in common

    Overlap
    20.2%
    Held by both
    20
    Only in Baroda BNP Paribas Multi Asset
    48
    Only in DSP Multi Asset Allocation
    65
    Security% of Baroda BNP Paribas Multi Asset% of DSP Multi Asset Allocation
    HDFC Bank Limited4.24%3.54%
    ICICI Bank Limited4.60%2.79%
    Bharti Airtel Limited2.49%2.02%
    Reliance Industries Limited3.82%1.49%
    State Bank of India1.67%1.33%
    Larsen & Toubro Limited3.51%1.31%
    Hindustan Zinc Limited1.09%1.01%
    NTPC Limited1.21%0.96%
    Tata Motors Ltd0.84%0.77%
    Maruti Suzuki India Limited0.77%0.89%

    Overlap: for each holding both funds own, the smaller of its two weights, added up. 20.2% means 20.2% 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 Baroda BNP Paribas Multi Asset Fund

    Security% of fund
    Nippon India ETF Gold Bees7.91%
    Baroda BNP Paribas Gold ETF-RG7.18%
    Hitachi Energy India Limited3.85%
    Eternal Limited2.14%
    Linde India Limited1.87%

    Largest holdings only in DSP Multi Asset Allocation Fund

    Security% of fund
    DSP Gold ETF11.65%
    DSP Nifty 50 Equal Wieght ETF5.38%
    6.90% GOI 150420654.08%
    Axis Bank Limited2.98%
    Embassy Office Parks REIT1.42%

    Asset and sector split

    Share of each fund, from its latest monthly portfolio

    Asset allocation

    AssetBaroda BNP Paribas Multi AssetDSP Multi Asset Allocation
    Equity70.2%49.5%
    Debt10.4%13.7%
    Cash and others19.3%36.8%

    Market cap of stocks

    Market capBaroda BNP Paribas Multi AssetDSP Multi Asset Allocation
    Large Cap47.1%28.7%
    Mid Cap16.3%4.4%
    Small Cap5.5%4.1%
    Foreign stocks0.0%11.9%
    Not on AMFI's list1.4%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

    SectorBaroda BNP Paribas Multi AssetDSP Multi Asset Allocation
    Banks14.7%10.8%
    Electrical Equipment5.5%0.8%
    IT - Software4.2%0.9%
    Petroleum Products3.8%2.8%
    Pharmaceuticals & Biotechnology3.7%0.9%
    Construction3.5%1.7%
    Foreign Security0.0%2.8%
    Consumer Durables1.7%2.5%
    Automobiles2.1%2.4%
    IT - Hardware0.0%2.4%

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

    Baroda BNP Paribas Multi Asset vs DSP Multi Asset Allocation: Expense Ratio

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

    ChargeBaroda BNP Paribas Multi Asset FundDSP Multi Asset Allocation Fund
    Total expense ratio (Direct)0.89%0.62%
    Base expense ratio (Direct)0.73%0.37%
    Total expense ratio (Regular)2.04%1.58%
    Base expense ratio (Regular)1.71%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

    Baroda BNP Paribas Multi Asset Fund vs DSP Multi Asset Allocation Fund: Frequently Asked Questions

    What is the difference between Baroda BNP Paribas Multi Asset Fund and DSP Multi Asset Allocation Fund?

    Both are Multi Asset funds, run by Baroda BNP Paribas Mutual Fund and DSP Mutual Fund. Their portfolios overlap 20.2%. Baroda BNP Paribas Multi Asset Fund charges 0.89% a year and DSP Multi Asset Allocation Fund 0.62%.

    Which has given higher returns, Baroda BNP Paribas Multi Asset Fund or DSP Multi Asset Allocation Fund?

    Over 1 year: Baroda BNP Paribas Multi Asset Fund −0.27%, DSP Multi Asset Allocation Fund +4.15%. Over 3 years: Baroda BNP Paribas Multi Asset Fund +13.33% a year, DSP Multi Asset Allocation Fund +17.30% a year. As on 30-10-2026. Past returns do not promise future returns.

    Which has the lower expense ratio, Baroda BNP Paribas Multi Asset Fund or DSP Multi Asset Allocation Fund?

    DSP Multi Asset Allocation Fund charges less: 0.62% a year against 0.89%. These are the Direct plans' total expense ratios reported to AMFI.

    How much do Baroda BNP Paribas Multi Asset Fund and DSP Multi Asset Allocation Fund overlap?

    20.2%. They hold 20 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, BHARTIARTL. From each fund's latest monthly portfolio.

    Which is better for SIP, Baroda BNP Paribas Multi Asset Fund or DSP Multi Asset Allocation Fund?

    Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹4,07,689 in Baroda BNP Paribas Multi Asset Fund (XIRR 6.2% a year) and ₹4,44,364 in DSP Multi Asset Allocation Fund (XIRR 12.0% a year). Both received 37 instalments. Past returns do not promise future returns.

    Can I invest in both Baroda BNP Paribas Multi Asset Fund and DSP Multi Asset Allocation Fund?

    Yes. 20.2% of each fund's money sits in the same holdings, so some of the two investments would move together.

    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.

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