DSP Multi Asset Allocation Fund vs ITI Multi Asset Allocation Fund
Direct Plan, Growth option · Data as on 29-10-2026
DSP Multi Asset Allocation Fund and ITI Multi Asset Allocation Fund are both Multi Asset funds. DSP Multi Asset Allocation Fund charges 0.62% a year and ITI Multi Asset Allocation Fund 1.92% (Direct plans). Their portfolios overlap 10.9%: they hold 8 of the same securities.
DSP Multi Asset Allocation Fund
Multi Asset
- Expense ratio
- 0.62%
- NAV
- ₹16.05
ITI Multi Asset Allocation Fund
Multi Asset
- Expense ratio
- 1.92%
- NAV
- ₹9.57
Which is better, DSP Multi Asset Allocation or ITI 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 costs less: 0.62% a year against 1.92% (Direct plans).
- DSP Multi Asset Allocation fell less in its worst fall since 10-09-2026: −4.7% against −6.0%.
- DSP Multi Asset Allocation holds 11.9% of the fund in foreign stocks; ITI Multi Asset Allocation 0.0%.
- DSP Multi Asset Allocation holds more in large companies: 28.7% of the fund in large caps against 18.1%.
- DSP Multi Asset Allocation is the larger fund: ₹10,820 Cr against ₹144 Cr.
- Their portfolios overlap 10.9%: 8 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 | ITI Multi Asset Allocation Fund |
|---|---|---|
| Fund house | DSP Mutual Fund | ITI Mutual Fund |
| Category | Multi Asset | Multi Asset |
| AUM | ₹10,820 Cr (30-09-2026) | ₹144 Cr (30-09-2026) |
| NAV | ₹16.05 (Direct) | ₹9.57 (Direct) |
| Expense ratio (Direct) | 0.62% | 1.92% |
| Expense ratio (Regular) | 1.58% | 3.61% |
| Riskometer | High | High |
| Benchmark | 40% NIFTY500 TRI + 20% NIFTY Composite Debt Index + 15% Domestic Price of Physical Gold (LBMA) + 5% iCOMDEX Composite In | 50% NIFTY 500 TRI + 30% CRISIL Composite Bond Index + 10% Domestic Price of Physical Gold + 10% Domestic Price of Silver |
| Launch date | 27-09-2023 | 07-09-2026 |
| Minimum investment | ₹100 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Aparna Karnik, Shantanu Godambe, Ravi Gehani | Nilay Dalal, Laukik Bagwe |
| Exit load | Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 1 months. | Exit load of 0.50%, if redeemed within 3 months. |
DSP Multi Asset Allocation vs ITI Multi 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 Multi Asset Allocation Fund (Direct) | −1.39% | −3.78% | −2.49% | +4.15% | +17.30% | -- | -- |
| ITI Multi Asset Allocation Fund (Direct) | −3.02% | -- | -- | -- | -- | -- | -- |
| Multi Asset average | −1.71% | -- | -- | -- | -- | -- | -- |
Category average: the average of the 37 Multi Asset funds, same plan type.
DSP Multi Asset Allocation vs ITI Multi Asset Allocation: Year-wise Returns
| Year | DSPDSP Multi Asset Allocation | ITIITI Multi Asset Allocation |
|---|---|---|
| 2026to date | +0.30% | -- |
| 2025 | +24.73% | -- |
| 2024 | +18.12% | -- |
DSP Multi Asset Allocation vs ITI Multi Asset Allocation: Rolling Returns
Every holding period of both funds
DSP Multi Asset Allocation vs ITI Multi Asset Allocation: 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) | ITI Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +16.60% | −27.08% |
| Standard deviation | 8.47% | 10.04% |
| Sharpe ratio | 1.25 | -3.24 |
| Sortino ratio | 1.73 | -3.61 |
| Maximum drawdown | −9.7% (23-03-2026) | −6.0% (23-10-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
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)
ITI Multi Asset Allocation Fund (Direct)
| 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) | −4.7% | 21-09-2026 | 23-10-2026 | Not yet | -- | −3.7% |
| ITI Multi Asset Allocation Fund (Direct) | −6.0% | 23-09-2026 | 23-10-2026 | Not yet | -- | −4.6% |
From daily values since 10-09-2026, the first day every fund has.
DSP Multi Asset Allocation vs ITI Multi Asset Allocation: Portfolio Overlap
From each fund's latest monthly portfolio: DSP Multi Asset Allocation Fund, September 2026; ITI Multi Asset Allocation Fund, September 2026
Holdings in common
- Overlap
- 10.9%
- Held by both
- 8
- Only in DSP Multi Asset Allocation
- 77
- Only in ITI Multi Asset Allocation
- 39
| Security | % of DSP Multi Asset Allocation | % of ITI Multi Asset Allocation |
|---|---|---|
| DSP Gold ETF | 11.65% | 3.32% |
| ICICI Bank Limited | 2.79% | 2.93% |
| HDFC Bank Limited | 3.54% | 1.65% |
| Reliance Industries Limited | 1.49% | 1.66% |
| Samvardhana Motherson International Limited | 1.01% | 1.04% |
| Kalpataru Projects International Limited | 0.42% | 0.98% |
| HDFC Life Insurance Co Limited | 0.23% | 1.91% |
| LT Foods Limited | 0.01% | 0.80% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 10.9% means 10.9% 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 Nifty 50 Equal Wieght ETF | 5.38% |
| 6.90% GOI 15042065 | 4.08% |
| Axis Bank Limited | 2.98% |
| 6.94% GOI 11052036 | 2.10% |
| Bharti Airtel Limited | 2.02% |
Largest holdings only in ITI Multi Asset Allocation Fund
| Security | % of fund |
|---|---|
| 6.60% REC Limited (30/06/2027) | 3.44% |
| Union Bank of India (12/03/2027) | 3.36% |
| Mirae Asset Gold ETF | 2.79% |
| Manipal Payment and Identity Solutions Ltd | 2.67% |
| IDFC First Bank Limited | 1.96% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | DSP Multi Asset Allocation | ITI Multi Asset Allocation |
|---|---|---|
| Equity | 49.5% | 46.9% |
| Debt | 13.7% | 6.8% |
| Cash and others | 36.8% | 46.3% |
Market cap of stocks
| Market cap | DSP Multi Asset Allocation | ITI Multi Asset Allocation |
|---|---|---|
| Large Cap | 28.7% | 18.1% |
| Mid Cap | 4.4% | 7.8% |
| Small Cap | 4.1% | 17.4% |
| Foreign stocks | 11.9% | 0.0% |
| Not on AMFI's list | 0.5% | 3.7% |
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 | ITI Multi Asset Allocation |
|---|---|---|
| Banks | 10.8% | 8.9% |
| Industrial Products | 0.3% | 4.1% |
| Pharmaceuticals & Biotechnology | 0.9% | 3.9% |
| Finance | 0.0% | 3.1% |
| Auto Components | 2.1% | 2.9% |
| Foreign Security | 2.8% | 0.0% |
| Electrical Equipment | 0.8% | 2.8% |
| Petroleum Products | 2.8% | 1.7% |
| Consumer Durables | 2.5% | 1.3% |
| Automobiles | 2.4% | 1.6% |
| IT - Hardware | 2.4% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
DSP Multi Asset Allocation vs ITI Multi Asset Allocation: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | DSP Multi Asset Allocation Fund | ITI Multi Asset Allocation Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.62% | 1.92% |
| Base expense ratio (Direct) | 0.37% | 0.34% |
| Total expense ratio (Regular) | 1.58% | 3.61% |
| Base expense ratio (Regular) | 1.18% | 1.82% |
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 ITI Multi Asset Allocation Fund: Frequently Asked Questions
What is the difference between DSP Multi Asset Allocation Fund and ITI Multi Asset Allocation Fund?
Both are Multi Asset funds, run by DSP Mutual Fund and ITI Mutual Fund. Their portfolios overlap 10.9%. DSP Multi Asset Allocation Fund charges 0.62% a year and ITI Multi Asset Allocation Fund 1.92%.
Which has the lower expense ratio, DSP Multi Asset Allocation Fund or ITI Multi Asset Allocation Fund?
DSP Multi Asset Allocation Fund charges less: 0.62% a year against 1.92%. These are the Direct plans' total expense ratios reported to AMFI.
How much do DSP Multi Asset Allocation Fund and ITI Multi Asset Allocation Fund overlap?
10.9%. They hold 8 of the same securities, the largest shared ones being GOLDADD, ICICIBANK, HDFCBANK. From each fund's latest monthly portfolio.
Which is riskier, DSP Multi Asset Allocation Fund or ITI Multi Asset Allocation Fund?
On SEBI's riskometer, DSP Multi Asset Allocation Fund is rated High and ITI Multi Asset Allocation Fund High. Over their common history, the standard deviation of daily returns was 8.47% and 10.04% a year.
Can I invest in both DSP Multi Asset Allocation Fund and ITI Multi Asset Allocation Fund?
Yes. 10.9% 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 ITI Multi Asset Allocation Fund?
DSP Multi Asset Allocation Fund: Aparna Karnik, Shantanu Godambe, Ravi Gehani. ITI Multi Asset Allocation Fund: Nilay Dalal, Laukik Bagwe.
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.