DSP Conservative Hybrid Fund vs DSP Dynamic Asset Allocation Fund
Direct Plan, Growth option · Data as on 30-10-2026
DSP Conservative Hybrid Fund is a Conservative Hybrid fund and DSP Dynamic Asset Allocation Fund is a Balanced Advantage fund. In the 3 years to 30-10-2026, DSP Conservative Hybrid Fund (Direct) returned 8.2% a year and DSP Dynamic Asset Allocation Fund (Direct) returned 10.3% a year. DSP Conservative Hybrid Fund charges 0.64% a year and DSP Dynamic Asset Allocation Fund 1.04% (Direct plans). Their portfolios overlap 19.3%: they hold 23 of the same securities.
DSP Conservative Hybrid Fund
Conservative Hybrid
- 3 year return
- 8.2%
- Expense ratio
- 0.64%
- NAV
- ₹68.34
DSP Dynamic Asset Allocation Fund
Balanced Advantage
- 3 year return
- 10.3%
- Expense ratio
- 1.04%
- NAV
- ₹32.53
Which is better, DSP Conservative Hybrid or DSP Dynamic 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 Dynamic Asset Allocation returned more over 5 years: 8.3% a year against 7.4%.
- DSP Dynamic Asset Allocation returned more over 3 years: 10.3% a year against 8.2%.
- DSP Conservative Hybrid costs less: 0.64% a year against 1.04% (Direct plans).
- DSP Conservative Hybrid swung less over 3 years: a standard deviation of 3.2% a year against 5.8%.
- DSP Conservative Hybrid fell less in its worst fall since 07-02-2014: −12.0% against −19.3%.
- DSP Dynamic Asset Allocation holds more in large companies: 60.4% of the fund in large caps against 15.4%.
- DSP Dynamic Asset Allocation is the larger fund: ₹3,704 Cr against ₹175 Cr.
- Their portfolios overlap 19.3%: 23 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 | DSP Conservative Hybrid Fund | DSP Dynamic Asset Allocation Fund |
|---|---|---|
| Fund house | DSP Mutual Fund | DSP Mutual Fund |
| Category | Conservative Hybrid | Balanced Advantage |
| AUM | ₹175 Cr (30-09-2026) | ₹3,704 Cr (30-09-2026) |
| NAV | ₹68.34 (Direct) | ₹32.53 (Direct) |
| Expense ratio (Direct) | 0.64% | 1.04% |
| Expense ratio (Regular) | 1.25% | 2.26% |
| Riskometer | Moderately High | Very High |
| Benchmark | CRISIL Hybrid 85+15 - Conservative Index | CRISIL Hybrid 50+50 - Moderate Index |
| Launch date | 11-06-2004 | 06-02-2014 |
| Minimum investment | ₹100 | ₹100 |
| Lock in | None | None |
| Fund managers | Abhishek Singh, Shantanu Godambe | Rohit Singhania, Shantanu Godambe, Kaivalya Nadkarni, Preethi R S |
| Exit load | Nil | Exit load of 1%, if redeemed within 1 months. |
DSP Conservative Hybrid vs DSP Dynamic 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 |
|---|---|---|---|---|---|---|---|
| DSP Conservative Hybrid Fund (Direct) | −0.26% | −1.26% | +1.06% | +1.82% | +8.24% | +7.41% | +7.09% |
| DSP Dynamic Asset Allocation Fund (Direct) | +0.02% | −2.52% | +0.35% | +0.25% | +10.26% | +8.33% | +9.16% |
| Conservative Hybrid average | −0.46% | −1.48% | +0.87% | +1.02% | +7.61% | +7.13% | +7.52% |
| Balanced Advantage average | −0.55% | −2.88% | +0.08% | −2.08% | +9.14% | +8.35% | +9.91% |
Category average: the average of the 18 Conservative Hybrid funds and the 38 Balanced Advantage funds, same plan type.
DSP Conservative Hybrid vs DSP Dynamic Asset Allocation: Year-wise Returns
| Year | Conservative HybridDSP Conservative Hybrid | Dynamic Asset AllocationDSP Dynamic Asset Allocation |
|---|---|---|
| 2026to date | +0.64% | −0.99% |
| 2025 | +7.95% | +10.02% |
| 2024 | +11.66% | +13.74% |
| 2023 | +12.69% | +18.48% |
| 2022 | +4.21% | +1.31% |
| 2021 | +9.53% | +10.80% |
DSP Conservative Hybrid vs DSP Dynamic Asset Allocation: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 2,356 of them, one for each trading day from 07-02-2017 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.
DSP Conservative Hybrid Fund (Direct)
DSP Dynamic Asset Allocation Fund (Direct)
to
Nov 2017Jul 2016
to
Jul 2019Mar 2018
to
Mar 2021Nov 2019
to
Nov 2022Jun 2021
to
Jun 2024Jan 2023
to
Jan 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DSP Conservative Hybrid | 0.0 | 13.1 | 64.5 | 22.4 | 0.0 | 0.0 | 0.0 | 8.3% | 8.8% | 0.7% | 13.2% |
| DSP Dynamic Asset Allocation | 0.0 | 1.8 | 42.8 | 54.8 | 0.6 | 0.0 | 0.0 | 10.2% | 10.3% | 1.5% | 15.4% |
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. Every fund is measured over the days all of them have, from 07-02-2014. Past returns do not promise future returns.
DSP Conservative Hybrid vs DSP Dynamic 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 03-02-2014 to 30-10-2026: 153 instalments, ₹15,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| DSP Conservative HybridDSP Conservative Hybrid Fund (Direct) | ₹15,30,000 | ₹25,61,892 | ₹10,31,892 | 7.7% |
| DSP Dynamic Asset AllocationDSP Dynamic Asset Allocation Fund (Direct) | ₹15,30,000 | ₹28,83,634 | ₹13,53,634 | 9.5% |
DSP Conservative HybridDSP Conservative Hybrid Fund (Direct)
DSP Dynamic Asset AllocationDSP Dynamic 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.
DSP Conservative Hybrid vs DSP Dynamic Asset Allocation: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | DSP Conservative Hybrid Fund (Direct) | DSP Dynamic Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +1.82% | +0.25% |
| Standard deviation | 3.37% | 6.52% |
| Sharpe ratio | -1.02 | -0.77 |
| Sortino ratio | -1.38 | -1.04 |
| Maximum drawdown | −3.2% (30-03-2026) | −5.5% (30-03-2026) |
| 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 | DSP Conservative Hybrid Fund (Direct) | DSP Dynamic Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.24% | +10.26% |
| Standard deviation | 3.21% | 5.81% |
| Sharpe ratio | 0.69 | 0.73 |
| Sortino ratio | 0.97 | 1.00 |
| Maximum drawdown | −3.2% (30-03-2026) | −5.5% (30-03-2026) |
| 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.
| Measure | DSP Conservative Hybrid Fund (Direct) | DSP Dynamic Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.41% | +8.33% |
| Standard deviation | 3.27% | 5.85% |
| Sharpe ratio | 0.49 | 0.43 |
| Sortino ratio | 0.69 | 0.59 |
| Maximum drawdown | −4.5% (16-06-2022) | −7.9% (17-06-2022) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 29-10-2021 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 | DSP Conservative Hybrid Fund (Direct) | DSP Dynamic Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.20% | +9.70% |
| Standard deviation | 4.26% | 6.86% |
| Sharpe ratio | 0.51 | 0.56 |
| Sortino ratio | 0.67 | 0.76 |
| Maximum drawdown | −12.0% (23-03-2020) | −19.3% (23-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 03-01-2013 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.
DSP Conservative Hybrid Fund (Direct)
DSP Dynamic Asset Allocation Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| DSP Conservative Hybrid Fund (Direct) | −12.0% | 13-02-2020 | 23-03-2020 | 17-07-2020 | 4 months | −1.6% |
| DSP Dynamic Asset Allocation Fund (Direct) | −19.3% | 19-02-2020 | 23-03-2020 | 07-08-2020 | 5 months | −3.7% |
From daily values since 07-02-2014, 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.
DSP Conservative Hybrid Fund (Direct)
DSP Dynamic Asset Allocation Fund (Direct)
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.
DSP Conservative Hybrid Fund (Direct)
DSP Dynamic Asset Allocation Fund (Direct)
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 5-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
DSP Conservative Hybrid Fund (Direct)
DSP Dynamic Asset Allocation Fund (Direct)
DSP Conservative Hybrid vs DSP Dynamic Asset Allocation: Portfolio Overlap
From each fund's latest monthly portfolio: DSP Conservative Hybrid Fund, September 2026; DSP Dynamic Asset Allocation Fund, September 2026
Holdings in common
- Overlap
- 19.3%
- Held by both
- 23
- Only in DSP Conservative Hybrid
- 27
- Only in DSP Dynamic Asset Allocation
- 49
| Security | % of DSP Conservative Hybrid | % of DSP Dynamic Asset Allocation |
|---|---|---|
| HDFC Bank Limited | 2.71% | 7.28% |
| ICICI Bank Limited | 1.82% | 7.41% |
| 7.06% GOI 10042028 | 5.95% | 1.69% |
| 7.32% GOI 13112030 | 11.91% | 1.13% |
| Mahindra & Mahindra Limited | 1.08% | 1.30% |
| NTPC Limited | 0.99% | 1.24% |
| ITC Limited | 1.12% | 0.97% |
| Alkem Laboratories Limited | 0.83% | 1.03% |
| Kotak Mahindra Bank Limited | 0.81% | 3.86% |
| Cipla Limited | 0.78% | 1.40% |
| Axis Bank Limited | 0.76% | 4.96% |
| Oil & Natural Gas Corporation Limited | 0.75% | 1.46% |
| SBI Life Insurance Co Limited | 0.72% | 1.55% |
| HDFC Life Insurance Co Limited | 0.70% | 1.36% |
| Muthoot Finance Limited | 4.39% | 0.69% |
| Cholamandalam Investment and Finance Co Limited | 2.86% | 0.68% |
| Maruti Suzuki India Limited | 0.63% | 0.63% |
| Infosys Limited | 0.45% | 0.69% |
| Syngene International Limited | 0.33% | 0.56% |
| Life Insurance Corporation Of India | 0.26% | 1.40% |
| Canara HSBC Life Insurance Co Limited | 0.57% | 0.23% |
| La Opala RG Limited | 0.19% | 0.21% |
| Bharat Petroleum Corporation Limited | 0.14% | 1.10% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 19.3% means 19.3% 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 DSP Conservative Hybrid Fund
| Security | % of fund |
|---|---|
| 6.87% GOI FRB 22092033 | 8.94% |
| 7.03% Maharashtra SDL 25062038 | 8.17% |
| 6.48% GOI 06102035 | 5.63% |
| Small Industries Development Bank of India | 5.58% |
| IDFC First Bank Limited | 5.57% |
Largest holdings only in DSP Dynamic Asset Allocation Fund
| Security | % of fund |
|---|---|
| State Bank of India | 4.27% |
| Bharti Airtel Limited | 3.96% |
| Bajaj Finserv Limited | 2.01% |
| Bandhan Bank Limited | 1.87% |
| Titan Co Limited | 1.85% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | DSP Conservative Hybrid | DSP Dynamic Asset Allocation |
|---|---|---|
| Equity | 21.2% | 72.2% |
| Debt | 76.5% | 23.0% |
| Cash and others | 2.3% | 4.8% |
Market cap of stocks
| Market cap | DSP Conservative Hybrid | DSP Dynamic Asset Allocation |
|---|---|---|
| Large Cap | 15.4% | 60.4% |
| Mid Cap | 3.0% | 5.8% |
| Small Cap | 2.8% | 5.9% |
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 | DSP Conservative Hybrid | DSP Dynamic Asset Allocation |
|---|---|---|
| Banks | 6.1% | 31.9% |
| Insurance | 2.7% | 5.6% |
| Consumer Durables | 1.1% | 4.3% |
| Telecom - Services | 0.8% | 4.0% |
| Finance | 0.0% | 3.6% |
| Pharmaceuticals & Biotechnology | 2.3% | 3.5% |
| Automobiles | 2.4% | 2.7% |
| Diversified FMCG | 1.1% | 2.0% |
The six largest sectors of each fund's stocks, % of the fund.
DSP Conservative Hybrid vs DSP Dynamic Asset Allocation: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | DSP Conservative Hybrid Fund | DSP Dynamic Asset Allocation Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.64% | 1.04% |
| Base expense ratio (Direct) | 0.51% | 0.59% |
| Total expense ratio (Regular) | 1.25% | 2.26% |
| Base expense ratio (Regular) | 1.04% | 1.62% |
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 DSP Conservative Hybrid with
- DSP Conservative Hybrid vs Parag Parikh Conservative Hybrid
- DSP Conservative Hybrid vs HSBC Conservative Hybrid
- DSP Conservative Hybrid vs ICICI Prudential Conservative Hybrid
- DSP Conservative Hybrid vs Nippon India Conservative Hybrid
- DSP Conservative Hybrid vs Aditya Birla Sun Life Conservative Hybrid
Compare DSP Dynamic Asset Allocation with
- DSP Dynamic Asset Allocation vs quant Dynamic Asset Allocation
- DSP Dynamic Asset Allocation vs Aditya Birla Sun Life Balanced Advantage
- DSP Dynamic Asset Allocation vs Baroda BNP Paribas Balanced Advantage
- DSP Dynamic Asset Allocation vs Axis Balanced Advantage
- DSP Dynamic Asset Allocation vs WhiteOak Capital Balanced Advantage
DSP Conservative Hybrid Fund vs DSP Dynamic Asset Allocation Fund: Frequently Asked Questions
What is the difference between DSP Conservative Hybrid Fund and DSP Dynamic Asset Allocation Fund?
DSP Conservative Hybrid Fund is a Conservative Hybrid fund, DSP Dynamic Asset Allocation Fund is a Balanced Advantage fund, run by DSP Mutual Fund. Their portfolios overlap 19.3%. DSP Conservative Hybrid Fund charges 0.64% a year and DSP Dynamic Asset Allocation Fund 1.04%.
Which has given higher returns, DSP Conservative Hybrid Fund or DSP Dynamic Asset Allocation Fund?
Over 1 year: DSP Conservative Hybrid Fund +1.82%, DSP Dynamic Asset Allocation Fund +0.25%. Over 3 years: DSP Conservative Hybrid Fund +8.24% a year, DSP Dynamic Asset Allocation Fund +10.26% a year. Over 5 years: DSP Conservative Hybrid Fund +7.41% a year, DSP Dynamic Asset Allocation Fund +8.33% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, DSP Conservative Hybrid Fund or DSP Dynamic Asset Allocation Fund?
DSP Conservative Hybrid Fund charges less: 0.64% a year against 1.04%. These are the Direct plans' total expense ratios reported to AMFI.
How much do DSP Conservative Hybrid Fund and DSP Dynamic Asset Allocation Fund overlap?
19.3%. They hold 23 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, 7.06% GOI 10042028. From each fund's latest monthly portfolio.
Which is riskier, DSP Conservative Hybrid Fund or DSP Dynamic Asset Allocation Fund?
On SEBI's riskometer, DSP Conservative Hybrid Fund is rated Moderately High and DSP Dynamic Asset Allocation Fund Very High. Over 3 years, the standard deviation of daily returns was 3.21% and 5.81% a year.
Which is better for SIP, DSP Conservative Hybrid Fund or DSP Dynamic Asset Allocation Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,32,394 in DSP Conservative Hybrid Fund (XIRR 7.1% a year) and ₹7,55,561 in DSP Dynamic Asset Allocation Fund (XIRR 8.4% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both DSP Conservative Hybrid Fund and DSP Dynamic Asset Allocation Fund?
Yes. 19.3% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages DSP Conservative Hybrid Fund and DSP Dynamic Asset Allocation Fund?
DSP Conservative Hybrid Fund: Abhishek Singh, Shantanu Godambe. DSP Dynamic Asset Allocation Fund: Rohit Singhania, Shantanu Godambe, Kaivalya Nadkarni, Preethi R S.
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.