DSP Multi Cap Fund vs Nippon India Retirement Fund- Wealth Creation Scheme
Direct Plan, Growth option · Data as on 30-10-2026
DSP Multi Cap Fund is a Multi Cap fund and Nippon India Retirement Fund- Wealth Creation Scheme is a mutual fund. In the year to 30-10-2026, DSP Multi Cap Fund (Direct) returned −5.5% and Nippon India Retirement Fund- Wealth Creation Scheme (Direct) returned −8.7%. DSP Multi Cap Fund charges 0.69% a year and Nippon India Retirement Fund- Wealth Creation Scheme 1.27% (Direct plans). Their portfolios overlap 29.3%: they hold 13 of the same securities.
Nippon India Retirement Fund- Wealth Creation Scheme
- 1 year return
- −8.7%
- Expense ratio
- 1.27%
- NAV
- ₹30.44
Which is better, DSP Multi Cap or Nippon India Retirement Fund- Wealth Creation Scheme? 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 Cap returned more over 1 year: −5.5% against −8.7%.
- DSP Multi Cap costs less: 0.69% a year against 1.27% (Direct plans).
- Nippon India Retirement Fund- Wealth Creation Scheme fell less in its worst fall since 31-01-2024: −18.3% against −21.3%.
- Nippon India Retirement Fund- Wealth Creation Scheme holds more in large companies: 61.5% of the fund in large caps against 33.6%.
- Nippon India Retirement Fund- Wealth Creation Scheme is the larger fund: ₹2,939 Cr against ₹2,878 Cr.
- Their portfolios overlap 29.3%: 13 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 Cap Fund | Nippon India Retirement Fund- Wealth Creation Scheme |
|---|---|---|
| Fund house | DSP Mutual Fund | Nippon India Mutual Fund |
| Category | Multi Cap | Not available |
| AUM | ₹2,878 Cr (30-09-2026) | ₹2,939 Cr (30-09-2026) |
| NAV | ₹11.89 (Direct) | ₹30.44 (Direct) |
| Expense ratio (Direct) | 0.69% | 1.27% |
| Expense ratio (Regular) | 2.09% | 2.24% |
| Riskometer | Very High | Not available |
| Benchmark | NIFTY 500 Multicap 50:25:25 Total Return Index | Not available |
| Launch date | 30-01-2024 | Not available |
| Minimum investment | ₹100 | Not available |
| Lock in | None | Not available |
| Fund managers | Chirag Dagli | Not available |
| Exit load | Exit load of 1%, if redeemed within 12 months. | Not available |
DSP Multi Cap vs Nippon India Retirement Fund- Wealth Creation Scheme: 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 Cap Fund (Direct) | −3.29% | −6.10% | −0.91% | −5.51% | -- | -- | -- |
| Nippon India Retirement Fund- Wealth Creation Scheme (Direct) | −2.17% | −7.48% | −4.28% | −8.68% | +9.81% | +9.35% | +10.57% |
| Multi Cap average | −2.65% | −3.95% | +1.99% | −1.14% | -- | -- | -- |
Category average: the average of the 33 Multi Cap funds, same plan type.
DSP Multi Cap vs Nippon India Retirement Fund- Wealth Creation Scheme: Year-wise Returns
| Year | DSP Multi CapDSP Multi Cap | Nippon India Retirement Fund- Wealth Creation SchemeNippon India Retirement Fund- Wealth Creation Scheme |
|---|---|---|
| 2026to date | −4.74% | −7.05% |
| 2025 | +1.78% | +2.00% |
| 2024 | -- | +21.64% |
| 2023 | -- | +32.38% |
| 2022 | -- | +2.66% |
| 2021 | -- | +33.45% |
DSP Multi Cap vs Nippon India Retirement Fund- Wealth Creation Scheme: Rolling Returns
Every holding period of both funds, against Nifty500 Multicap 50:25:25 TRI, the benchmark of DSP Multi Cap Fund
Rolling returns
Every 1-year holding period, 429 of them, one for each trading day from 31-01-2025 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 Multi Cap Fund (Direct)
Nippon India Retirement Fund- Wealth Creation Scheme (Direct)
Nifty500 Multicap 50:25:25 TRI
to
Mar 2025Jul 2024
to
Jul 2025Oct 2024
to
Oct 2025Feb 2025
to
Feb 2026May 2025
to
May 2026Sept 2025
to
Sept 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 Cap | 24.0 | 42.4 | 23.3 | 9.8 | 0.5 | 0.0 | 0.0 | 3.5% | 3.2% | −7.1% | 16.1% | 47% |
| Nippon India Retirement Fund- Wealth Creation Scheme | 30.8 | 37.8 | 22.6 | 8.6 | 0.2 | 0.0 | 0.0 | 2.7% | 2.0% | −10.1% | 15.1% | 24% |
| Nifty500 Multicap 50:25:25 TRI | 22.8 | 38.0 | 32.2 | 5.6 | 1.4 | 0.0 | 0.0 | 3.7% | 3.7% | −7.6% | 16.2% | -- |
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 Nifty500 Multicap 50:25:25 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 31-01-2024. Past returns do not promise future returns.
DSP Multi Cap vs Nippon India Retirement Fund- Wealth Creation Scheme: 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 31-01-2024 to 30-10-2026: 34 instalments, ₹3,40,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| DSP Multi CapDSP Multi Cap Fund (Direct) | ₹3,40,000 | ₹3,44,098 | ₹4,098 | 0.8% |
| Nippon India Retirement Fund- Wealth Creation SchemeNippon India Retirement Fund- Wealth Creation Scheme (Direct) | ₹3,40,000 | ₹3,32,846 | −₹7,154 | −1.5% |
DSP Multi CapDSP Multi Cap Fund (Direct)
Nippon India Retirement Fund- Wealth Creation SchemeNippon India Retirement Fund- Wealth Creation Scheme (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 Cap vs Nippon India Retirement Fund- Wealth Creation Scheme: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | DSP Multi Cap Fund (Direct) | Nippon India Retirement Fund- Wealth Creation Scheme (Direct) |
|---|---|---|
| Return (CAGR) | −5.51% | −8.68% |
| Standard deviation | 14.43% | 14.74% |
| Sharpe ratio | -0.75 | -0.94 |
| Sortino ratio | -1.01 | -1.26 |
| Maximum drawdown | −15.1% (30-03-2026) | −13.4% (31-03-2026) |
| Beta | 0.93 | 1.02 |
| Alpha | −0.30% | −0.78% |
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 Multi Cap Fund (Direct) | Nippon India Retirement Fund- Wealth Creation Scheme (Direct) |
|---|---|---|
| Return (CAGR) | +6.44% | +9.93% |
| Standard deviation | 14.47% | 16.26% |
| Sharpe ratio | 0.03 | 0.26 |
| Sortino ratio | 0.05 | 0.35 |
| Maximum drawdown | −21.3% (03-03-2025) | −44.9% (23-03-2020) |
| Beta | 0.89 | 1.00 |
| Alpha | +1.19% | −1.33% |
From daily NAVs, 31-01-2024 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 Multi Cap Fund (Direct)
Nippon India Retirement Fund- Wealth Creation Scheme (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 Multi Cap Fund (Direct) | −21.3% | 16-10-2024 | 03-03-2025 | Not yet | -- | −9.1% |
| Nippon India Retirement Fund- Wealth Creation Scheme (Direct) | −18.3% | 27-09-2024 | 28-02-2025 | Not yet | -- | −11.2% |
| Nifty500 Multicap 50:25:25 TRI | −19.8% | 26-09-2024 | 03-03-2025 | 03-08-2026 | 17 months | −8.0% |
From daily values since 31-01-2024, 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 Cap Fund (Direct)
Nippon India Retirement Fund- Wealth Creation Scheme (Direct)
Nifty500 Multicap 50:25:25 TRI
Against Nifty500 Multicap 50:25:25 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| DSP Multi Cap Fund (Direct) | 107% | 102% | 4.25% |
| Nippon India Retirement Fund- Wealth Creation Scheme (Direct) | 91% | 91% | 3.75% |
From month-end values since 31-01-2024. 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 Cap vs Nippon India Retirement Fund- Wealth Creation Scheme: Portfolio Overlap
From each fund's latest monthly portfolio: DSP Multi Cap Fund, September 2026; Nippon India Retirement Fund- Wealth Creation Scheme, September 2026
Holdings in common
- Overlap
- 29.3%
- Held by both
- 13
- Only in DSP Multi Cap
- 42
- Only in Nippon India Retirement Fund- Wealth Creation Scheme
- 58
| Security | % of DSP Multi Cap | % of Nippon India Retirement Fund- Wealth Creation Scheme |
|---|---|---|
| HDFC Bank Limited | 6.40% | 7.72% |
| ICICI Bank Limited | 5.38% | 6.89% |
| Axis Bank Limited | 3.78% | 4.17% |
| Mahindra & Mahindra Limited | 2.76% | 3.27% |
| Alkem Laboratories Limited | 3.26% | 2.26% |
| HDFC Asset Management Co Limited | 1.85% | 1.91% |
| Info Edge (India) Limited | 2.96% | 1.68% |
| Hindustan Aeronautics Limited | 1.31% | 2.14% |
| Max Financial Services Limited | 3.55% | 1.29% |
| Gland Pharma Limited | 2.25% | 0.99% |
| Tube Investments of India Limited | 1.44% | 0.81% |
| Syngene International Limited | 1.22% | 0.46% |
| ICICI Prudential Life Insurance Co Limited | 1.95% | 0.34% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 29.3% means 29.3% 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 Cap Fund
| Security | % of fund |
|---|---|
| Coforge Limited | 2.87% |
| Kirloskar Oil Engines Limited | 2.83% |
| Cipla Limited | 2.72% |
| Hero MotoCorp Limited | 2.62% |
| ICICI Lombard General Insurance Co Limited | 2.43% |
Largest holdings only in Nippon India Retirement Fund- Wealth Creation Scheme
| Security | % of fund |
|---|---|
| Reliance Industries Limited | 4.14% |
| Infosys Limited | 3.72% |
| JSW Energy Limited | 3.03% |
| State Bank of India | 2.94% |
| Vedanta Aluminium Metal Limited | 2.01% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | DSP Multi Cap | Nippon India Retirement Fund- Wealth Creation Scheme |
|---|---|---|
| Equity | 95.9% | 98.9% |
| Debt | 0.0% | 0.0% |
| Cash and others | 4.1% | 1.1% |
Market cap of stocks
| Market cap | DSP Multi Cap | Nippon India Retirement Fund- Wealth Creation Scheme |
|---|---|---|
| Large Cap | 33.6% | 61.5% |
| Mid Cap | 29.7% | 26.1% |
| Small Cap | 32.5% | 10.3% |
| Not on AMFI's list | 0.0% | 1.1% |
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 Cap | Nippon India Retirement Fund- Wealth Creation Scheme |
|---|---|---|
| Banks | 15.6% | 22.0% |
| Pharmaceuticals & Biotechnology | 13.6% | 5.5% |
| Industrial Products | 10.3% | 1.0% |
| Insurance | 8.9% | 1.6% |
| Power | 0.9% | 6.8% |
| Finance | 0.0% | 5.4% |
| Automobiles | 5.4% | 4.3% |
| Retailing | 3.0% | 5.3% |
| Capital Markets | 4.6% | 1.9% |
| IT - Software | 2.9% | 4.6% |
The six largest sectors of each fund's stocks, % of the fund.
DSP Multi Cap vs Nippon India Retirement Fund- Wealth Creation Scheme: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | DSP Multi Cap Fund | Nippon India Retirement Fund- Wealth Creation Scheme |
|---|---|---|
| Total expense ratio (Direct) | 0.69% | 1.27% |
| Base expense ratio (Direct) | 0.49% | 0.87% |
| Total expense ratio (Regular) | 2.09% | 2.24% |
| Base expense ratio (Regular) | 1.69% | 1.69% |
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 Cap Fund vs Nippon India Retirement Fund- Wealth Creation Scheme: Frequently Asked Questions
What is the difference between DSP Multi Cap Fund and Nippon India Retirement Fund- Wealth Creation Scheme?
DSP Multi Cap Fund is a Multi Cap fund, Nippon India Retirement Fund- Wealth Creation Scheme is a mutual fund, run by DSP Mutual Fund and Nippon India Mutual Fund. Their portfolios overlap 29.3%. DSP Multi Cap Fund charges 0.69% a year and Nippon India Retirement Fund- Wealth Creation Scheme 1.27%.
Which has given higher returns, DSP Multi Cap Fund or Nippon India Retirement Fund- Wealth Creation Scheme?
Over 1 year: DSP Multi Cap Fund −5.51%, Nippon India Retirement Fund- Wealth Creation Scheme −8.68%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, DSP Multi Cap Fund or Nippon India Retirement Fund- Wealth Creation Scheme?
DSP Multi Cap Fund charges less: 0.69% a year against 1.27%. These are the Direct plans' total expense ratios reported to AMFI.
How much do DSP Multi Cap Fund and Nippon India Retirement Fund- Wealth Creation Scheme overlap?
29.3%. They hold 13 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, AXISBANK. From each fund's latest monthly portfolio.
Can I invest in both DSP Multi Cap Fund and Nippon India Retirement Fund- Wealth Creation Scheme?
Yes. 29.3% 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.