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    DSP Multi Asset Allocation Fund vs ICICI Prudential Multi Asset Allocation Fund

    Direct Plan, Growth option · Data as on 29-10-2026

    DSP Multi Asset Allocation Fund and ICICI Prudential Multi Asset Allocation Fund are both Multi Asset funds. In the 3 years to 29-10-2026, DSP Multi Asset Allocation Fund (Direct) returned 17.3% a year and ICICI Prudential Multi Asset Allocation Fund (Direct) returned 12.9% a year. DSP Multi Asset Allocation Fund charges 0.62% a year and ICICI Prudential Multi Asset Allocation Fund 0.85% (Direct plans). Their portfolios overlap 27.0%: they hold 42 of the same securities.

    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

    ICICI Prudential Multi Asset Allocation Fund

    Multi Asset

    3 year return
    12.9%
    Expense ratio
    0.85%
    NAV
    ₹853.87
    See ICICI Prudential Multi Asset Allocation Fund

    Which is better, DSP Multi Asset Allocation or ICICI Prudential 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 12.9%.
    • DSP Multi Asset Allocation returned more over 1 year: 4.2% against −3.7%.
    • DSP Multi Asset Allocation costs less: 0.62% a year against 0.85% (Direct plans).
    • ICICI Prudential Multi Asset Allocation swung less over 3 years: a standard deviation of 8.3% a year against 8.5%.
    • ICICI Prudential Multi Asset Allocation fell less in its worst fall since 29-09-2023: −9.5% against −9.7%.
    • DSP Multi Asset Allocation holds 11.9% of the fund in foreign stocks; ICICI Prudential Multi Asset Allocation 0.2%.
    • ICICI Prudential Multi Asset Allocation holds more in large companies: 49.2% of the fund in large caps against 28.7%.
    • ICICI Prudential Multi Asset Allocation is the larger fund: ₹84,108 Cr against ₹10,820 Cr.
    • Their portfolios overlap 27.0%: 42 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

    FactDSP Multi Asset Allocation FundICICI Prudential Multi Asset Allocation Fund
    Fund houseDSP Mutual FundICICI Prudential Mutual Fund
    CategoryMulti AssetMulti Asset
    AUM₹10,820 Cr (30-09-2026)₹84,108 Cr (30-09-2026)
    NAV₹16.05 (Direct)₹853.87 (Direct)
    Expense ratio (Direct)0.62%0.85%
    Expense ratio (Regular)1.58%1.43%
    RiskometerHighNot available
    Benchmark40% NIFTY500 TRI + 20% NIFTY Composite Debt Index + 15% Domestic Price of Physical Gold (LBMA) + 5% iCOMDEX Composite InNifty 200 TRI (65%) + Nifty Composite Debt Index (25%) + Domestic Price of Gold (6%) + Domestic Price of Silver (1%) + i
    Launch date27-09-202331-10-2002
    Minimum investment₹100₹500
    Lock inNoneNone
    Fund managersAparna Karnik, Shantanu Godambe, Ravi GehaniSankaran Naren, Manish Banthia, Gaurav Chikane, Sharmila D'silva, Antariksha Banerjee, Akhil Kakkar, Masoomi Jurmarvala
    Exit loadExit Load for units in excess of 10% of the investment,1% will be charged for redemption within 1 months.Exit Load for units in excess of 30% of the investment,1% will be charged for redemption within 365 days.

    DSP Multi Asset Allocation vs ICICI Prudential Multi Asset Allocation: Returns Comparison

    Returns as on 29-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.

    Fund1M3M6M1Y3Y5Y10Y
    DSP Multi Asset Allocation Fund (Direct)−1.39%−3.78%−2.49%+4.15%+17.30%----
    ICICI Prudential Multi Asset Allocation Fund (Direct)−1.72%−5.05%−3.78%−3.66%+12.92%+13.95%+14.80%
    Multi Asset average−1.71%−3.33%−1.78%+2.00%+14.20%+12.56%+12.92%

    Category average: the average of the 37 Multi Asset funds, same plan type.

    DSP Multi Asset Allocation vs ICICI Prudential Multi Asset Allocation: Year-wise Returns

    YearDSPDSP Multi Asset AllocationICICI PrudentialICICI Prudential Multi Asset Allocation
    2026to date+0.30%−5.73%
    2025+24.73%+19.46%
    2024+18.12%+17.08%
    2023--+24.98%
    2022--+17.61%
    2021--+35.54%

    DSP Multi Asset Allocation vs ICICI Prudential Multi Asset Allocation: Rolling Returns

    Every holding period of both funds

    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.

    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
    DSP Multi Asset Allocation Fund (Direct)ICICI Prudential Multi Asset Allocation Fund (Direct)

    How the periods spread

    FundBelow 0%0-5%5-10%10-15%15-20%20-25%Above 25%MeanMedianLowestHighest
    DSP Multi Asset Allocation0.00.00.00.0100.00.00.017.3%17.3%16.7%17.9%
    ICICI Prudential Multi Asset Allocation0.00.00.0100.00.00.00.013.1%13.1%12.4%13.8%

    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.

    DSP Multi Asset Allocation vs ICICI Prudential 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 29-09-2023 to 29-10-2026: 38 instalments, ₹3,80,000 in all.

    InvestmentInvestedValue nowGainReturn a year
    DSP Multi Asset AllocationDSP Multi Asset Allocation Fund (Direct) ₹3,80,000 ₹4,60,418 ₹80,418 12.3%
    ICICI Prudential Multi Asset AllocationICICI Prudential Multi Asset Allocation Fund (Direct) ₹3,80,000 ₹4,19,525 ₹39,525 6.2%
    ₹0₹1.0 L₹2.0 L₹3.0 L₹4.0 L₹5.0 L
    202420252026
    DSP Multi Asset AllocationDSP Multi Asset Allocation Fund (Direct)ICICI Prudential Multi Asset AllocationICICI Prudential 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.

    DSP Multi Asset Allocation vs ICICI Prudential Multi Asset Allocation: Risk and Drawdowns

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

    Risk and return

    MeasureDSP Multi Asset Allocation Fund (Direct)ICICI Prudential Multi Asset Allocation Fund (Direct)
    Return (CAGR)+17.30%+12.92%
    Standard deviation8.55%8.29%
    Sharpe ratio1.320.83
    Sortino ratio1.841.16
    Maximum drawdown−9.7% (23-03-2026)−9.5% (23-03-2026)
    Beta----
    Alpha----

    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.

    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.

    −10%−8%−6%−4%−2%0%
    202420252026
    DSP Multi Asset Allocation Fund (Direct)ICICI Prudential Multi Asset Allocation Fund (Direct)
    FundWorst fallHigh before itBottomBack at the highTime to climb backBelow its high today
    DSP Multi Asset Allocation Fund (Direct)−9.7%29-01-202623-03-202621-08-20265 months−6.2%
    ICICI Prudential Multi Asset Allocation Fund (Direct)−9.5%11-02-202623-03-2026Not yet--−7.1%

    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%
    DSP Multi Asset Allocation Fund (Direct)ICICI Prudential Multi Asset Allocation Fund (Direct)

    DSP Multi Asset Allocation vs ICICI Prudential Multi Asset Allocation: Portfolio Overlap

    From each fund's latest monthly portfolio: DSP Multi Asset Allocation Fund, September 2026; ICICI Prudential Multi Asset Allocation Fund, September 2026

    Holdings in common

    Overlap
    27.0%
    Held by both
    42
    Only in DSP Multi Asset Allocation
    43
    Only in ICICI Prudential Multi Asset Allocation
    184
    Security% of DSP Multi Asset Allocation% of ICICI Prudential Multi Asset Allocation
    HDFC Bank Limited3.54%6.07%
    ICICI Bank Limited2.79%3.57%
    Axis Bank Limited2.98%2.34%
    6.94% GOI 110520362.10%2.11%
    Bharti Airtel Limited2.02%1.55%
    Reliance Industries Limited1.49%3.17%
    State Bank of India1.33%0.98%
    NTPC Limited0.96%1.41%
    Maruti Suzuki India Limited0.89%1.37%
    Larsen & Toubro Limited1.31%0.82%

    Overlap: for each holding both funds own, the smaller of its two weights, added up. 27.0% means 27.0% 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 ETF11.65%
    DSP Nifty 50 Equal Wieght ETF5.38%
    Hindustan Zinc Limited1.01%
    Samvardhana Motherson International Limited1.01%
    Knowledge Realty Trust0.93%

    Largest holdings only in ICICI Prudential Multi Asset Allocation Fund

    Security% of fund
    ICICI Prudential Gold ETF10.07%
    Bajaj Finserv Ltd.2.55%
    Interglobe Aviation Ltd.1.89%
    ITC Ltd.1.62%
    Hindustan Unilever Ltd.1.51%

    Asset and sector split

    Share of each fund, from its latest monthly portfolio

    Asset allocation

    AssetDSP Multi Asset AllocationICICI Prudential Multi Asset Allocation
    Equity49.5%67.3%
    Debt13.7%15.0%
    Cash and others36.8%17.7%

    Market cap of stocks

    Market capDSP Multi Asset AllocationICICI Prudential Multi Asset Allocation
    Large Cap28.7%49.2%
    Mid Cap4.4%12.1%
    Small Cap4.1%5.4%
    Foreign stocks11.9%0.2%
    Not on AMFI's list0.5%0.4%

    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

    SectorDSP Multi Asset AllocationICICI Prudential Multi Asset Allocation
    Banks10.8%15.5%
    Insurance2.0%6.5%
    Finance0.0%4.5%
    Automobiles2.4%4.1%
    Petroleum Products2.8%3.4%
    Retailing1.9%3.3%
    Foreign Security2.8%0.0%
    Consumer Durables2.5%1.0%
    IT - Hardware2.4%0.0%

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

    DSP Multi Asset Allocation vs ICICI Prudential Multi Asset Allocation: Expense Ratio

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

    ChargeDSP Multi Asset Allocation FundICICI Prudential Multi Asset Allocation Fund
    Total expense ratio (Direct)0.62%0.85%
    Base expense ratio (Direct)0.37%0.57%
    Total expense ratio (Regular)1.58%1.43%
    Base expense ratio (Regular)1.18%1.07%

    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 Multi Asset Allocation Fund vs ICICI Prudential Multi Asset Allocation Fund: Frequently Asked Questions

    What is the difference between DSP Multi Asset Allocation Fund and ICICI Prudential Multi Asset Allocation Fund?

    Both are Multi Asset funds, run by DSP Mutual Fund and ICICI Prudential Mutual Fund. Their portfolios overlap 27.0%. DSP Multi Asset Allocation Fund charges 0.62% a year and ICICI Prudential Multi Asset Allocation Fund 0.85%.

    Which has given higher returns, DSP Multi Asset Allocation Fund or ICICI Prudential Multi Asset Allocation Fund?

    Over 1 year: DSP Multi Asset Allocation Fund +4.15%, ICICI Prudential Multi Asset Allocation Fund −3.66%. Over 3 years: DSP Multi Asset Allocation Fund +17.30% a year, ICICI Prudential Multi Asset Allocation Fund +12.92% a year. As on 29-10-2026. Past returns do not promise future returns.

    Which has the lower expense ratio, DSP Multi Asset Allocation Fund or ICICI Prudential Multi Asset Allocation Fund?

    DSP Multi Asset Allocation Fund charges less: 0.62% a year against 0.85%. These are the Direct plans' total expense ratios reported to AMFI.

    How much do DSP Multi Asset Allocation Fund and ICICI Prudential Multi Asset Allocation Fund overlap?

    27.0%. They hold 42 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, AXISBANK. From each fund's latest monthly portfolio.

    Which is better for SIP, DSP Multi Asset Allocation Fund or ICICI Prudential Multi Asset Allocation 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 ₹4,05,051 in ICICI Prudential Multi Asset Allocation Fund (XIRR 5.8% 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 Multi Asset Allocation Fund?

    Yes. 27.0% of each fund's money sits in the same holdings, so some of the two investments would move together.

    Who manages DSP Multi Asset Allocation Fund and ICICI Prudential Multi Asset Allocation Fund?

    DSP Multi Asset Allocation Fund: Aparna Karnik, Shantanu Godambe, Ravi Gehani. ICICI Prudential Multi Asset Allocation Fund: Sankaran Naren, Manish Banthia, Gaurav Chikane, Sharmila D'silva, Antariksha Banerjee, Akhil Kakkar, Masoomi Jurmarvala.

    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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