DSP MSCI India ETF vs Tata Multicap Fund
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
DSP MSCI India ETF is a mutual fund and Tata Multicap Fund is a Multi Cap fund. DSP MSCI India ETF charges 0.16% a year and Tata Multicap Fund 0.82%. Their portfolios overlap 33.7%: they hold 39 of the same securities.
Which is better, DSP MSCI India ETF or Tata Multicap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- DSP MSCI India ETF costs less: 0.16% a year against 0.82%.
- Tata Multicap fell less in its worst fall since 25-11-2025: −13.1% against −14.6%.
- DSP MSCI India ETF holds more in large companies: 80.5% of the fund in large caps against 39.5%.
- Tata Multicap is the larger fund: ₹3,409 Cr against ₹3 Cr.
- Their portfolios overlap 33.7%: 39 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 MSCI India ETF | Tata Multicap Fund |
|---|---|---|
| Fund house | DSP Mutual Fund | Tata Mutual Fund |
| Category | Not available | Multi Cap |
| AUM | ₹3 Cr (30-09-2026) | ₹3,409 Cr (30-09-2026) |
| NAV | ₹27.96 | ₹15.25 (Direct) |
| Expense ratio (Direct) | Not available | 0.82% |
| Expense ratio (Regular) | Not available | 2.18% |
| Riskometer | Not available | Very High |
| Benchmark | Not available | NIFTY 500 Multicap 50:25:25 Total Return Index |
| Launch date | Not available | 02-02-2023 |
| Minimum investment | Not available | ₹5,000 |
| Lock in | Not available | None |
| Fund managers | Not available | Meeta Shetty, Murthy Nagarajan, Hasmukh Vishariya |
| Exit load | Not available | Exit load of 0.50%, if redeemed within 30 days. |
DSP MSCI India ETF vs Tata Multicap: 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 MSCI India ETF | +0.34% | −5.94% | −3.51% | -- | -- | -- | -- |
| Tata Multicap Fund (Direct) | −1.68% | −6.58% | −0.16% | −0.78% | +9.40% | -- | -- |
| Multi Cap average | −2.65% | −3.95% | +1.99% | −1.14% | +13.54% | -- | -- |
Category average: the average of the 33 Multi Cap funds, same plan type.
DSP MSCI India ETF vs Tata Multicap: Year-wise Returns
| Year | DSP MSCI India ETFDSP MSCI India ETF | Tata MulticapTata Multicap |
|---|---|---|
| 2026to date | −8.97% | −1.66% |
| 2025 | -- | +4.65% |
| 2024 | -- | +14.27% |
DSP MSCI India ETF vs Tata Multicap: Rolling Returns
Every holding period of both funds, against Nifty500 Multicap 50:25:25 TRI, the benchmark of Tata Multicap Fund
DSP MSCI India ETF vs Tata Multicap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | DSP MSCI India ETF | Tata Multicap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −8.48% | +11.46% |
| Standard deviation | 14.60% | 14.14% |
| Sharpe ratio | -0.94 | 0.37 |
| Sortino ratio | -1.24 | 0.50 |
| Maximum drawdown | −14.6% (31-03-2026) | −22.4% (28-02-2025) |
| Beta | -- | 0.97 |
| Alpha | -- | −2.32% |
From daily NAVs, 25-11-2025 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.
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 MSCI India ETF
Tata Multicap Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| DSP MSCI India ETF | −14.6% | 02-01-2026 | 31-03-2026 | Not yet | -- | −10.1% |
| Tata Multicap Fund (Direct) | −13.1% | 11-02-2026 | 31-03-2026 | 06-05-2026 | 36 days | −8.3% |
| Nifty500 Multicap 50:25:25 TRI | −14.6% | 02-01-2026 | 30-03-2026 | 06-07-2026 | 3 months | −8.0% |
From daily values since 25-11-2025, the first day every fund has.
DSP MSCI India ETF vs Tata Multicap: Portfolio Overlap
From each fund's latest monthly portfolio: DSP MSCI India ETF, September 2026; Tata Multicap Fund, September 2026
Holdings in common
- Overlap
- 33.7%
- Held by both
- 39
- Only in DSP MSCI India ETF
- 125
- Only in Tata Multicap
- 39
| Security | % of DSP MSCI India ETF | % of Tata Multicap |
|---|---|---|
| HDFC Bank Limited | 6.44% | 7.22% |
| Reliance Industries Limited | 5.44% | 2.44% |
| Axis Bank Limited | 2.25% | 2.16% |
| ICICI Bank Limited | 5.59% | 2.00% |
| Kotak Mahindra Bank Limited | 1.82% | 1.83% |
| Bharti Airtel Limited | 3.93% | 1.80% |
| Mahindra & Mahindra Limited | 2.05% | 1.69% |
| Infosys Limited | 2.41% | 1.18% |
| NTPC Limited | 1.12% | 2.20% |
| Maruti Suzuki India Limited | 1.11% | 1.76% |
| Shriram Finance Limited | 1.10% | 1.15% |
| State Bank of India | 1.41% | 0.96% |
| Adani Ports and Special Economic Zone Limited | 0.83% | 3.69% |
| Apollo Hospitals Enterprise Limited | 0.66% | 0.86% |
| Adani Enterprises Limited | 0.59% | 0.89% |
| Samvardhana Motherson International Limited | 0.55% | 1.05% |
| Cummins India Limited | 0.50% | 0.91% |
| Dr. Reddy's Laboratories Limited | 0.49% | 0.99% |
| Indian Hotels Co Limited | 0.48% | 1.51% |
| ITC Limited | 0.63% | 0.46% |
| Federal Bank Limited | 0.46% | 1.21% |
| Vedanta Aluminium Metal Limited | 0.45% | 0.82% |
| Varun Beverages Limited | 0.44% | 0.78% |
| Persistent Systems Limited | 0.43% | 0.48% |
| Dixon Technologies (India) Limited | 0.40% | 1.76% |
| Indus Towers Limited | 0.37% | 1.37% |
| APL Apollo Tubes Limited | 0.31% | 0.66% |
| ICICI Lombard General Insurance Co Limited | 0.31% | 1.06% |
| United Spirits Limited | 0.31% | 1.59% |
| Adani Energy Solutions Limited | 0.22% | 1.01% |
| Mphasis Limited | 0.21% | 0.63% |
| Prestige Estates Projects Limited | 0.21% | 0.85% |
| Vishal Mega Mart Limited | 0.19% | 1.75% |
| NMDC Limited | 0.19% | 0.68% |
| Godrej Properties Limited | 0.18% | 0.53% |
| Voltas Limited | 0.17% | 0.78% |
| Indian Bank | 0.17% | 1.30% |
| Havells India Limited | 0.16% | 1.08% |
| PI Industries Limited | 0.12% | 0.88% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 33.7% means 33.7% 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 MSCI India ETF
| Security | % of fund |
|---|---|
| Larsen & Toubro Limited | 2.02% |
| Bajaj Finance Limited | 1.90% |
| Tata Consultancy Services Limited | 1.33% |
| Sun Pharmaceutical Industries Limited | 1.30% |
| Titan Co Limited | 1.29% |
Largest holdings only in Tata Multicap Fund
| Security | % of fund |
|---|---|
| PEARL GLOBAL INDUSTRIES LTD | 2.18% |
| DR. LAL PATH LABS LTD | 1.98% |
| METROPOLIS HEALTHCARE LTD | 1.74% |
| SPR AUTO TECHNOLOGIES LTD | 1.67% |
| BANDHAN BANK LTD | 1.57% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | DSP MSCI India ETF | Tata Multicap |
|---|---|---|
| Equity | 99.5% | 94.1% |
| Debt | 0.0% | 0.0% |
| Cash and others | 0.5% | 5.9% |
Market cap of stocks
| Market cap | DSP MSCI India ETF | Tata Multicap |
|---|---|---|
| Large Cap | 80.5% | 39.5% |
| Mid Cap | 19.0% | 26.6% |
| Small Cap | 0.0% | 27.1% |
| Not on AMFI's list | 0.0% | 0.8% |
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 MSCI India ETF | Tata Multicap |
|---|---|---|
| Banks | 20.3% | 19.6% |
| Healthcare Services | 1.5% | 8.6% |
| Auto Components | 1.3% | 6.6% |
| IT - Software | 6.5% | 4.0% |
| Petroleum Products | 6.4% | 2.4% |
| Finance | 6.3% | 5.0% |
| Automobiles | 6.2% | 4.4% |
| Pharmaceuticals & Biotechnology | 5.6% | 2.3% |
| Industrial Products | 1.3% | 5.1% |
The six largest sectors of each fund's stocks, % of the fund.
DSP MSCI India ETF vs Tata Multicap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | DSP MSCI India ETF | Tata Multicap Fund |
|---|---|---|
| Total expense ratio (Direct) | Not available | 0.82% |
| Base expense ratio (Direct) | 0.11% | 0.48% |
| Total expense ratio (Regular) | Not available | 2.18% |
| Base expense ratio (Regular) | 0.00% | 1.65% |
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
DSP MSCI India ETF vs Tata Multicap Fund: Frequently Asked Questions
What is the difference between DSP MSCI India ETF and Tata Multicap Fund?
DSP MSCI India ETF is a mutual fund, Tata Multicap Fund is a Multi Cap fund, run by DSP Mutual Fund and Tata Mutual Fund. Their portfolios overlap 33.7%. DSP MSCI India ETF charges 0.16% a year and Tata Multicap Fund 0.82%.
Which has the lower expense ratio, DSP MSCI India ETF or Tata Multicap Fund?
DSP MSCI India ETF charges less: 0.16% a year against 0.82%. These are the total expense ratios reported to AMFI.
How much do DSP MSCI India ETF and Tata Multicap Fund overlap?
33.7%. They hold 39 of the same securities, the largest shared ones being HDFCBANK, RELIANCE, AXISBANK. From each fund's latest monthly portfolio.
Can I invest in both DSP MSCI India ETF and Tata Multicap Fund?
Yes. 33.7% 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.