DSP Multi Asset Allocation Fund vs ICICI Prudential Dividend Yield Fund
Direct Plan, Growth option · Data as on 29-10-2026
DSP Multi Asset Allocation Fund is a Multi Asset fund and ICICI Prudential Dividend Yield Fund is a Dividend Yield fund. In the 3 years to 30-10-2026, DSP Multi Asset Allocation Fund (Direct) returned 17.3% a year and ICICI Prudential Dividend Yield Fund (Direct) returned 13.4% a year. DSP Multi Asset Allocation Fund charges 0.62% a year and ICICI Prudential Dividend Yield Fund 0.76% (Direct plans). Their portfolios overlap 27.9%: they hold 27 of the same securities.
DSP Multi Asset Allocation Fund
Multi Asset
- 3 year return
- 17.3%
- Expense ratio
- 0.62%
- NAV
- ₹16.05
ICICI Prudential Dividend Yield Fund
Dividend Yield
- 3 year return
- 13.4%
- Expense ratio
- 0.76%
- NAV
- ₹55.47
Which is better, DSP Multi Asset Allocation or ICICI Prudential Dividend Yield? 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 13.4%.
- DSP Multi Asset Allocation returned more over 1 year: 4.2% against −9.7%.
- DSP Multi Asset Allocation costs less: 0.62% a year against 0.76% (Direct plans).
- DSP Multi Asset Allocation swung less over 3 years: a standard deviation of 8.5% a year against 12.8%.
- DSP Multi Asset Allocation fell less in its worst fall since 29-09-2023: −9.7% against −15.9%.
- DSP Multi Asset Allocation holds 11.9% of the fund in foreign stocks; ICICI Prudential Dividend Yield 0.0%.
- ICICI Prudential Dividend Yield holds more in large companies: 75.5% of the fund in large caps against 28.7%.
- DSP Multi Asset Allocation is the larger fund: ₹10,820 Cr against ₹6,328 Cr.
- Their portfolios overlap 27.9%: 27 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 Multi Asset Allocation Fund | ICICI Prudential Dividend Yield Fund |
|---|---|---|
| Fund house | DSP Mutual Fund | ICICI Prudential Mutual Fund |
| Category | Multi Asset | Dividend Yield |
| AUM | ₹10,820 Cr (30-09-2026) | ₹6,328 Cr (30-09-2026) |
| NAV | ₹16.05 (Direct) | ₹55.47 (Direct) |
| Expense ratio (Direct) | 0.62% | 0.76% |
| Expense ratio (Regular) | 1.58% | 1.92% |
| Riskometer | High | Not available |
| Benchmark | 40% NIFTY500 TRI + 20% NIFTY Composite Debt Index + 15% Domestic Price of Physical Gold (LBMA) + 5% iCOMDEX Composite In | Not available |
| Launch date | 27-09-2023 | Not available |
| Minimum investment | ₹100 | Not available |
| Lock in | None | Not available |
| Fund managers | Aparna Karnik, Shantanu Godambe, Ravi Gehani | Not available |
| Exit load | Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 1 months. | Not available |
DSP Multi Asset Allocation vs ICICI Prudential Dividend Yield: 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 Multi Asset Allocation Fund (Direct) | −1.39% | −3.78% | −2.49% | +4.15% | +17.30% | -- | -- |
| ICICI Prudential Dividend Yield Fund (Direct) | −1.58% | −8.44% | −6.17% | −9.73% | +13.40% | +14.70% | +14.56% |
| Multi Asset average | −1.71% | −3.33% | −1.78% | +2.00% | +14.20% | -- | -- |
| Dividend Yield average | −1.57% | −5.69% | −3.24% | −5.57% | +12.14% | +12.06% | -- |
Category average: the average of the 37 Multi Asset funds and the 12 Dividend Yield funds, same plan type.
DSP Multi Asset Allocation vs ICICI Prudential Dividend Yield: Year-wise Returns
| Year | DSP Multi Asset AllocationDSP Multi Asset Allocation | ICICI Prudential Dividend YieldICICI Prudential Dividend Yield |
|---|---|---|
| 2026to date | +0.30% | −9.83% |
| 2025 | +24.73% | +13.23% |
| 2024 | +18.12% | +22.67% |
| 2023 | -- | +40.83% |
| 2022 | -- | +10.82% |
| 2021 | -- | +48.66% |
DSP Multi Asset Allocation vs ICICI Prudential Dividend Yield: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of ICICI Prudential Dividend Yield Fund
Rolling returns
Every 3-year holding period, 21 of them, one for each trading day from 29-09-2026 to 29-10-2026: 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 Multi Asset Allocation Fund (Direct)
ICICI Prudential Dividend Yield Fund (Direct)
Nifty 500 TRI
to
Oct 2026Oct 2023
to
Oct 2026Oct 2023
to
Oct 2026Oct 2023
to
Oct 2026Oct 2023
to
Oct 2026Oct 2023
to
Oct 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DSP Multi Asset Allocation | 0.0 | 0.0 | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 17.3% | 17.3% | 16.7% | 17.9% | 100% |
| ICICI Prudential Dividend Yield | 0.0 | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 13.3% | 13.4% | 12.7% | 13.8% | 100% |
| Nifty 500 TRI | 0.0 | 0.0 | 81.0 | 19.0 | 0.0 | 0.0 | 0.0 | 9.5% | 9.5% | 8.8% | 10.4% | -- |
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. The benchmark is Nifty 500 TRI, over the same periods. "Beat benchmark" counts the periods in which the fund did better. Every fund is measured over the days all of them have, from 29-09-2023. Past returns do not promise future returns.
DSP Multi Asset Allocation vs ICICI Prudential Dividend Yield: 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 29-09-2023 to 29-10-2026: 38 instalments, ₹3,80,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| DSP Multi Asset AllocationDSP Multi Asset Allocation Fund (Direct) | ₹3,80,000 | ₹4,60,418 | ₹80,418 | 12.3% |
| ICICI Prudential Dividend YieldICICI Prudential Dividend Yield Fund (Direct) | ₹3,80,000 | ₹3,95,195 | ₹15,195 | 2.4% |
DSP Multi Asset AllocationDSP Multi Asset Allocation Fund (Direct)
ICICI Prudential Dividend YieldICICI Prudential Dividend Yield 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 Multi Asset Allocation vs ICICI Prudential Dividend Yield: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | DSP Multi Asset Allocation Fund (Direct) | ICICI Prudential Dividend Yield Fund (Direct) |
|---|---|---|
| Return (CAGR) | +4.15% | −9.73% |
| Standard deviation | 10.58% | 12.68% |
| Sharpe ratio | -0.10 | -1.18 |
| Sortino ratio | -0.14 | -1.56 |
| Maximum drawdown | −9.7% (23-03-2026) | −12.1% (30-03-2026) |
| Beta | -- | 0.86 |
| Alpha | -- | −4.11% |
From daily NAVs, 29-10-2025 to 29-10-2026. 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 Multi Asset Allocation Fund (Direct) | ICICI Prudential Dividend Yield Fund (Direct) |
|---|---|---|
| Return (CAGR) | +17.30% | +13.40% |
| Standard deviation | 8.55% | 12.77% |
| Sharpe ratio | 1.32 | 0.58 |
| Sortino ratio | 1.84 | 0.79 |
| Maximum drawdown | −9.7% (23-03-2026) | −15.9% (28-02-2025) |
| Beta | -- | 0.87 |
| Alpha | -- | +3.73% |
From daily NAVs, 27-10-2023 to 29-10-2026. 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 Multi Asset Allocation Fund (Direct) | ICICI Prudential Dividend Yield Fund (Direct) |
|---|---|---|
| Return (CAGR) | +16.60% | +14.77% |
| Standard deviation | 8.47% | 14.59% |
| Sharpe ratio | 1.25 | 0.62 |
| Sortino ratio | 1.73 | 0.83 |
| Maximum drawdown | −9.7% (23-03-2026) | −44.8% (23-03-2020) |
| Beta | -- | 0.84 |
| Alpha | -- | +3.28% |
From daily NAVs, 29-09-2023 to 29-10-2026. 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 Multi Asset Allocation Fund (Direct)
ICICI Prudential Dividend Yield Fund (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| DSP Multi Asset Allocation Fund (Direct) | −9.7% | 29-01-2026 | 23-03-2026 | 21-08-2026 | 5 months | −6.2% |
| ICICI Prudential Dividend Yield Fund (Direct) | −15.9% | 27-09-2024 | 28-02-2025 | 16-10-2025 | 8 months | −11.0% |
| Nifty 500 TRI | −18.6% | 26-09-2024 | 28-02-2025 | Not yet | -- | −8.8% |
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 1-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
DSP Multi Asset Allocation Fund (Direct)
ICICI Prudential Dividend Yield Fund (Direct)
Nifty 500 TRI
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 Multi Asset Allocation Fund (Direct)
ICICI Prudential Dividend Yield Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| DSP Multi Asset Allocation Fund (Direct) | 68% | 10% | 10.92% |
| ICICI Prudential Dividend Yield Fund (Direct) | 100% | 80% | 4.59% |
From month-end values since 29-09-2023. Up capture: a fund's average month when the benchmark rose, as % of the benchmark's; above 100% it gained more. Down capture: the same for months the benchmark fell; below 100% it fell less. Tracking error: how far the monthly returns strayed from the benchmark's, a year; an index fund aims near 0.
DSP Multi Asset Allocation vs ICICI Prudential Dividend Yield: Portfolio Overlap
From each fund's latest monthly portfolio: DSP Multi Asset Allocation Fund, September 2026; ICICI Prudential Dividend Yield Fund, September 2026
Holdings in common
- Overlap
- 27.9%
- Held by both
- 27
- Only in DSP Multi Asset Allocation
- 58
- Only in ICICI Prudential Dividend Yield
- 49
| Security | % of DSP Multi Asset Allocation | % of ICICI Prudential Dividend Yield |
|---|---|---|
| HDFC Bank Limited | 3.54% | 7.35% |
| Axis Bank Limited | 2.98% | 4.32% |
| ICICI Bank Limited | 2.79% | 6.46% |
| Bharti Airtel Limited | 2.02% | 2.55% |
| Reliance Industries Limited | 1.49% | 4.29% |
| State Bank of India | 1.33% | 1.31% |
| Larsen & Toubro Limited | 1.31% | 2.96% |
| Embassy Office Parks REIT | 1.42% | 1.10% |
| NTPC Limited | 0.96% | 3.50% |
| SBI Life Insurance Co Limited | 0.95% | 1.37% |
| Maruti Suzuki India Limited | 0.89% | 3.04% |
| Mahindra & Mahindra Limited | 0.87% | 1.35% |
| Ultratech Cement Limited | 0.80% | 2.73% |
| Life Insurance Corporation Of India | 0.78% | 2.31% |
| Oberoi Realty Limited | 0.77% | 1.20% |
| Tata Motors Limited | 0.77% | 1.03% |
| Info Edge (India) Limited | 0.65% | 0.88% |
| Power Grid Corporation of India Limited | 0.90% | 0.65% |
| Bharat Petroleum Corporation Limited | 0.55% | 0.69% |
| Sun Pharmaceutical Industries Limited | 0.50% | 5.24% |
| Brookfield India Real Estate Trust | 0.70% | 0.49% |
| Oil India Limited | 0.70% | 0.42% |
| Infosys Limited | 0.33% | 1.10% |
| Samvardhana Motherson International Limited | 1.01% | 0.31% |
| Shree Cement Limited | 0.32% | 0.23% |
| HDFC Life Insurance Co Limited | 0.23% | 0.55% |
| Indus Towers Limited | 0.22% | 0.41% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 27.9% means 27.9% 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 Multi Asset Allocation Fund
| Security | % of fund |
|---|---|
| DSP Gold ETF | 11.65% |
| DSP Nifty 50 Equal Wieght ETF | 5.38% |
| 6.90% GOI 15042065 | 4.08% |
| 6.94% GOI 11052036 | 2.10% |
| Hindustan Zinc Limited | 1.01% |
Largest holdings only in ICICI Prudential Dividend Yield Fund
| Security | % of fund |
|---|---|
| Interglobe Aviation Ltd. | 3.19% |
| Cummins India Ltd. | 2.27% |
| Avenue Supermarts Ltd. | 2.25% |
| Bajaj Holdings & Investment Ltd. | 2.13% |
| Tata Consultancy Services Ltd. | 2.02% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | DSP Multi Asset Allocation | ICICI Prudential Dividend Yield |
|---|---|---|
| Equity | 49.5% | 96.7% |
| Debt | 13.7% | 1.1% |
| Cash and others | 36.8% | 2.2% |
Market cap of stocks
| Market cap | DSP Multi Asset Allocation | ICICI Prudential Dividend Yield |
|---|---|---|
| Large Cap | 28.7% | 75.5% |
| Mid Cap | 4.4% | 10.8% |
| Small Cap | 4.1% | 10.5% |
| Foreign stocks | 11.9% | 0.0% |
| Not on AMFI's list | 0.5% | 0.0% |
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 Multi Asset Allocation | ICICI Prudential Dividend Yield |
|---|---|---|
| Banks | 10.8% | 21.8% |
| Finance | 0.0% | 7.0% |
| Petroleum Products | 2.8% | 5.9% |
| Pharmaceuticals & Biotechnology | 0.9% | 5.8% |
| Insurance | 2.0% | 5.2% |
| Power | 1.9% | 4.5% |
| Automobiles | 2.4% | 4.4% |
| Foreign Security | 2.8% | 0.0% |
| Consumer Durables | 2.5% | 0.5% |
| IT - Hardware | 2.4% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
DSP Multi Asset Allocation vs ICICI Prudential Dividend Yield: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | DSP Multi Asset Allocation Fund | ICICI Prudential Dividend Yield Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.62% | 0.76% |
| Base expense ratio (Direct) | 0.37% | 0.57% |
| Total expense ratio (Regular) | 1.58% | 1.92% |
| Base expense ratio (Regular) | 1.18% | 1.56% |
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 Multi Asset Allocation with
DSP Multi Asset Allocation Fund vs ICICI Prudential Dividend Yield Fund: Frequently Asked Questions
What is the difference between DSP Multi Asset Allocation Fund and ICICI Prudential Dividend Yield Fund?
DSP Multi Asset Allocation Fund is a Multi Asset fund, ICICI Prudential Dividend Yield Fund is a Dividend Yield fund, run by DSP Mutual Fund and ICICI Prudential Mutual Fund. Their portfolios overlap 27.9%. DSP Multi Asset Allocation Fund charges 0.62% a year and ICICI Prudential Dividend Yield Fund 0.76%.
Which has given higher returns, DSP Multi Asset Allocation Fund or ICICI Prudential Dividend Yield Fund?
Over 1 year: DSP Multi Asset Allocation Fund +4.15%, ICICI Prudential Dividend Yield Fund −9.73%. Over 3 years: DSP Multi Asset Allocation Fund +17.30% a year, ICICI Prudential Dividend Yield Fund +13.40% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, DSP Multi Asset Allocation Fund or ICICI Prudential Dividend Yield Fund?
DSP Multi Asset Allocation Fund charges less: 0.62% a year against 0.76%. These are the Direct plans' total expense ratios reported to AMFI.
How much do DSP Multi Asset Allocation Fund and ICICI Prudential Dividend Yield Fund overlap?
27.9%. They hold 27 of the same securities, the largest shared ones being HDFCBANK, AXISBANK, ICICIBANK. From each fund's latest monthly portfolio.
Which is better for SIP, DSP Multi Asset Allocation Fund or ICICI Prudential Dividend Yield Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 29-10-2026 grew to ₹4,44,364 in DSP Multi Asset Allocation Fund (XIRR 12.0% a year) and ₹3,80,344 in ICICI Prudential Dividend Yield Fund (XIRR 1.8% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both DSP Multi Asset Allocation Fund and ICICI Prudential Dividend Yield Fund?
Yes. 27.9% 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.