DSP Dynamic Asset Allocation Fund vs DSP Equity Savings Fund
Direct Plan, Growth option · Data as on 30-10-2026
DSP Dynamic Asset Allocation Fund is a Balanced Advantage fund and DSP Equity Savings Fund is an Equity Savings fund. In the 3 years to 30-10-2026, DSP Dynamic Asset Allocation Fund (Direct) returned 10.3% a year and DSP Equity Savings Fund (Direct) returned 8.3% a year. DSP Dynamic Asset Allocation Fund charges 1.04% a year and DSP Equity Savings Fund 1.10% (Direct plans). Their portfolios overlap 43.7%: they hold 34 of the same securities.
DSP Dynamic Asset Allocation Fund
Balanced Advantage
- 3 year return
- 10.3%
- Expense ratio
- 1.04%
- NAV
- ₹32.53
DSP Equity Savings Fund
Equity Savings
- 3 year return
- 8.3%
- Expense ratio
- 1.10%
- NAV
- ₹24.95
Which is better, DSP Dynamic Asset Allocation or DSP Equity Savings? 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 8.3%.
- DSP Dynamic Asset Allocation costs less: 1.04% a year against 1.10% (Direct plans).
- DSP Equity Savings swung less over 3 years: a standard deviation of 3.4% a year against 5.8%.
- DSP Equity Savings fell less in its worst fall since 30-03-2016: −18.9% against −19.3%.
- DSP Dynamic Asset Allocation is the larger fund: ₹3,704 Cr against ₹3,087 Cr.
- Their portfolios overlap 43.7%: 34 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 Dynamic Asset Allocation Fund | DSP Equity Savings Fund |
|---|---|---|
| Fund house | DSP Mutual Fund | DSP Mutual Fund |
| Category | Balanced Advantage | Equity Savings |
| AUM | ₹3,704 Cr (30-09-2026) | ₹3,087 Cr (30-09-2026) |
| NAV | ₹32.53 (Direct) | ₹24.95 (Direct) |
| Expense ratio (Direct) | 1.04% | 1.10% |
| Expense ratio (Regular) | 2.26% | 1.95% |
| Riskometer | Very High | Moderately High |
| Benchmark | CRISIL Hybrid 50+50 - Moderate Index | Nifty Equity Savings Index |
| Launch date | 06-02-2014 | 28-03-2016 |
| Minimum investment | ₹100 | ₹100 |
| Lock in | None | None |
| Fund managers | Rohit Singhania, Shantanu Godambe, Kaivalya Nadkarni, Preethi R S | Abhishek Singh, Shantanu Godambe, Kaivalya Nadkarni |
| Exit load | Exit load of 1%, if redeemed within 1 months. | Nil |
DSP Dynamic Asset Allocation vs DSP Equity Savings: 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 Dynamic Asset Allocation Fund (Direct) | +0.02% | −2.52% | +0.35% | +0.25% | +10.26% | +8.33% | +9.16% |
| DSP Equity Savings Fund (Direct) | 0.00% | −1.27% | +0.40% | +0.40% | +8.26% | +7.44% | +8.35% |
| Balanced Advantage average | −0.55% | −2.88% | +0.08% | −2.08% | +9.14% | +8.35% | +9.91% |
| Equity Savings average | −0.02% | −0.68% | +1.71% | +2.12% | +8.55% | +7.55% | +8.43% |
Category average: the average of the 38 Balanced Advantage funds and the 23 Equity Savings funds, same plan type.
DSP Dynamic Asset Allocation vs DSP Equity Savings: Year-wise Returns
| Year | Dynamic Asset AllocationDSP Dynamic Asset Allocation | Equity SavingsDSP Equity Savings |
|---|---|---|
| 2026to date | −0.99% | −0.51% |
| 2025 | +10.02% | +7.13% |
| 2024 | +13.74% | +13.04% |
| 2023 | +18.48% | +13.17% |
| 2022 | +1.31% | +5.42% |
| 2021 | +10.80% | +14.50% |
DSP Dynamic Asset Allocation vs DSP Equity Savings: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 1,867 of them, one for each trading day from 01-04-2019 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 Dynamic Asset Allocation Fund (Direct)
DSP Equity Savings Fund (Direct)
to
Nov 2019Feb 2018
to
Feb 2021Jun 2019
to
Jun 2022Sept 2020
to
Sept 2023Jan 2022
to
Jan 2025Mar 2023
to
Mar 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 Dynamic Asset Allocation | 0.0 | 2.4 | 36.2 | 60.7 | 0.7 | 0.0 | 0.0 | 10.5% | 10.8% | 1.5% | 15.4% |
| DSP Equity Savings | 0.1 | 8.7 | 40.8 | 49.4 | 1.1 | 0.0 | 0.0 | 9.5% | 10.0% | −0.0% | 16.7% |
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 30-03-2016. Past returns do not promise future returns.
DSP Dynamic Asset Allocation vs DSP Equity Savings: 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 01-03-2016 to 30-10-2026: 128 instalments, ₹12,80,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| DSP Dynamic Asset AllocationDSP Dynamic Asset Allocation Fund (Direct) | ₹12,80,000 | ₹21,60,206 | ₹8,80,206 | 9.5% |
| DSP Equity SavingsDSP Equity Savings Fund (Direct) | ₹12,80,000 | ₹20,44,214 | ₹7,64,214 | 8.5% |
DSP Dynamic Asset AllocationDSP Dynamic Asset Allocation Fund (Direct)
DSP Equity SavingsDSP Equity Savings 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 Dynamic Asset Allocation vs DSP Equity Savings: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | DSP Dynamic Asset Allocation Fund (Direct) | DSP Equity Savings Fund (Direct) |
|---|---|---|
| Return (CAGR) | +0.25% | +0.40% |
| Standard deviation | 6.52% | 3.55% |
| Sharpe ratio | -0.77 | -1.36 |
| Sortino ratio | -1.04 | -1.82 |
| Maximum drawdown | −5.5% (30-03-2026) | −2.7% (01-04-2026) |
| 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 Dynamic Asset Allocation Fund (Direct) | DSP Equity Savings Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.26% | +8.26% |
| Standard deviation | 5.81% | 3.44% |
| Sharpe ratio | 0.73 | 0.65 |
| Sortino ratio | 1.00 | 0.93 |
| Maximum drawdown | −5.5% (30-03-2026) | −2.7% (01-04-2026) |
| 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 Dynamic Asset Allocation Fund (Direct) | DSP Equity Savings Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.33% | +7.44% |
| Standard deviation | 5.85% | 3.72% |
| Sharpe ratio | 0.43 | 0.44 |
| Sortino ratio | 0.59 | 0.62 |
| Maximum drawdown | −7.9% (17-06-2022) | −4.3% (20-06-2022) |
| 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 Dynamic Asset Allocation Fund (Direct) | DSP Equity Savings Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.70% | +8.97% |
| Standard deviation | 6.86% | 5.59% |
| Sharpe ratio | 0.56 | 0.63 |
| Sortino ratio | 0.76 | 0.84 |
| Maximum drawdown | −19.3% (23-03-2020) | −18.9% (23-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 07-02-2014 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 Dynamic Asset Allocation Fund (Direct)
DSP Equity Savings Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| DSP Dynamic Asset Allocation Fund (Direct) | −19.3% | 19-02-2020 | 23-03-2020 | 07-08-2020 | 5 months | −3.7% |
| DSP Equity Savings Fund (Direct) | −18.9% | 12-02-2020 | 23-03-2020 | 08-10-2020 | 7 months | −2.0% |
From daily values since 30-03-2016, 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 Dynamic Asset Allocation Fund (Direct)
DSP Equity Savings 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 Dynamic Asset Allocation Fund (Direct)
DSP Equity Savings 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 Dynamic Asset Allocation Fund (Direct)
DSP Equity Savings Fund (Direct)
DSP Dynamic Asset Allocation vs DSP Equity Savings: Portfolio Overlap
From each fund's latest monthly portfolio: DSP Dynamic Asset Allocation Fund, September 2026; DSP Equity Savings Fund, September 2026
Holdings in common
- Overlap
- 43.7%
- Held by both
- 34
- Only in DSP Dynamic Asset Allocation
- 38
- Only in DSP Equity Savings
- 48
| Security | % of DSP Dynamic Asset Allocation | % of DSP Equity Savings |
|---|---|---|
| HDFC Bank Limited | 7.28% | 7.25% |
| Axis Bank Limited | 4.96% | 4.69% |
| Kotak Mahindra Bank Limited | 3.86% | 3.68% |
| ICICI Bank Limited | 7.41% | 2.34% |
| Bharti Airtel Limited | 3.96% | 2.04% |
| Titan Co Limited | 1.85% | 1.55% |
| Reliance Industries Limited | 1.50% | 3.10% |
| Cipla Limited | 1.40% | 2.07% |
| HDFC Life Insurance Co Limited | 1.36% | 1.37% |
| Mahindra & Mahindra Limited | 1.30% | 3.10% |
| NTPC Limited | 1.24% | 2.46% |
| Hindalco Industries Limited | 1.20% | 1.86% |
| SBI Life Insurance Co Limited | 1.55% | 1.14% |
| Alkem Laboratories Limited | 1.03% | 1.20% |
| Bank of Baroda | 1.14% | 0.99% |
| Bandhan Bank Limited | 1.87% | 0.98% |
| ITC Limited | 0.97% | 3.24% |
| Oil & Natural Gas Corporation Limited | 1.46% | 0.90% |
| State Bank of India | 4.27% | 0.85% |
| Punjab National Bank | 1.10% | 0.80% |
| Muthoot Finance Limited | 0.71% | 0.85% |
| Power Finance Corporation Limited | 0.70% | 1.68% |
| Infosys Limited | 0.69% | 1.03% |
| National Bank for Financing Infrastructure and Development | 0.66% | 0.79% |
| HDFC Bank Limited | 0.66% | 0.79% |
| Maruti Suzuki India Limited | 0.63% | 0.95% |
| Syngene International Limited | 0.56% | 0.86% |
| Hindustan Aeronautics Limited | 0.55% | 0.68% |
| Life Insurance Corporation Of India | 1.40% | 0.45% |
| Canara HSBC Life Insurance Co Limited | 0.23% | 0.85% |
| Bharat Petroleum Corporation Limited | 1.10% | 0.21% |
| Bharti Telecom Limited | 0.21% | 0.25% |
| La Opala RG Limited | 0.21% | 0.20% |
| Bharat Electronics Limited | 0.97% | 0.08% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 43.7% means 43.7% 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 DSP Dynamic Asset Allocation Fund
| Security | % of fund |
|---|---|
| Bajaj Finserv Limited | 2.01% |
| 7.06% GOI 10042028 | 1.69% |
| LG Electronics India Limited | 1.48% |
| 7.17% GOI 17042030 | 1.41% |
| REC Limited | 1.40% |
Largest holdings only in DSP Equity Savings Fund
| Security | % of fund |
|---|---|
| 6.87% GOI FRB 22092033 | 2.87% |
| Vodafone Idea Limited | 2.28% |
| 7.38% GOI 20062027 | 2.17% |
| Indus Towers Limited | 1.82% |
| Larsen & Toubro Limited | 1.78% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | DSP Dynamic Asset Allocation | DSP Equity Savings |
|---|---|---|
| Equity | 72.2% | 68.7% |
| Debt | 23.0% | 25.5% |
| Cash and others | 4.8% | 5.9% |
Market cap of stocks
| Market cap | DSP Dynamic Asset Allocation | DSP Equity Savings |
|---|---|---|
| Large Cap | 60.4% | 57.0% |
| Mid Cap | 5.8% | 6.1% |
| Small Cap | 5.9% | 5.6% |
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 Dynamic Asset Allocation | DSP Equity Savings |
|---|---|---|
| Banks | 31.9% | 21.6% |
| Pharmaceuticals & Biotechnology | 3.5% | 6.2% |
| Telecom - Services | 4.0% | 6.1% |
| Insurance | 5.6% | 4.7% |
| Automobiles | 2.7% | 5.3% |
| Consumer Durables | 4.3% | 3.1% |
| Petroleum Products | 2.6% | 3.7% |
| Finance | 3.6% | 0.1% |
The six largest sectors of each fund's stocks, % of the fund.
DSP Dynamic Asset Allocation vs DSP Equity Savings: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | DSP Dynamic Asset Allocation Fund | DSP Equity Savings Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.04% | 1.10% |
| Base expense ratio (Direct) | 0.59% | 0.60% |
| Total expense ratio (Regular) | 2.26% | 1.95% |
| Base expense ratio (Regular) | 1.62% | 1.32% |
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 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 Dynamic Asset Allocation Fund vs DSP Equity Savings Fund: Frequently Asked Questions
What is the difference between DSP Dynamic Asset Allocation Fund and DSP Equity Savings Fund?
DSP Dynamic Asset Allocation Fund is a Balanced Advantage fund, DSP Equity Savings Fund is an Equity Savings fund, run by DSP Mutual Fund. Their portfolios overlap 43.7%. DSP Dynamic Asset Allocation Fund charges 1.04% a year and DSP Equity Savings Fund 1.10%.
Which has given higher returns, DSP Dynamic Asset Allocation Fund or DSP Equity Savings Fund?
Over 1 year: DSP Dynamic Asset Allocation Fund +0.25%, DSP Equity Savings Fund +0.40%. Over 3 years: DSP Dynamic Asset Allocation Fund +10.26% a year, DSP Equity Savings Fund +8.26% a year. Over 5 years: DSP Dynamic Asset Allocation Fund +8.33% a year, DSP Equity Savings Fund +7.44% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, DSP Dynamic Asset Allocation Fund or DSP Equity Savings Fund?
DSP Dynamic Asset Allocation Fund charges less: 1.04% a year against 1.10%. These are the Direct plans' total expense ratios reported to AMFI.
How much do DSP Dynamic Asset Allocation Fund and DSP Equity Savings Fund overlap?
43.7%. They hold 34 of the same securities, the largest shared ones being HDFCBANK, AXISBANK, KOTAKBANK. From each fund's latest monthly portfolio.
Which is riskier, DSP Dynamic Asset Allocation Fund or DSP Equity Savings Fund?
On SEBI's riskometer, DSP Dynamic Asset Allocation Fund is rated Very High and DSP Equity Savings Fund Moderately High. Over 3 years, the standard deviation of daily returns was 5.81% and 3.44% a year.
Which is better for SIP, DSP Dynamic Asset Allocation Fund or DSP Equity Savings Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,55,561 in DSP Dynamic Asset Allocation Fund (XIRR 8.4% a year) and ₹7,28,606 in DSP Equity Savings Fund (XIRR 6.9% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both DSP Dynamic Asset Allocation Fund and DSP Equity Savings Fund?
Yes. 43.7% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages DSP Dynamic Asset Allocation Fund and DSP Equity Savings Fund?
DSP Dynamic Asset Allocation Fund: Rohit Singhania, Shantanu Godambe, Kaivalya Nadkarni, Preethi R S. DSP Equity Savings Fund: Abhishek Singh, Shantanu Godambe, Kaivalya Nadkarni.
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.