DSP Nifty 500 Index Fund vs Invesco India Multi Asset Allocation Fund

Direct Plan, Growth option · Data as on 30-10-2026

DSP Nifty 500 Index Fund is an Index fund and Invesco India Multi Asset Allocation Fund is a Multi Asset fund. DSP Nifty 500 Index Fund charges 0.33% a year and Invesco India Multi Asset Allocation Fund 0.54% (Direct plans). Their portfolios overlap 36.8%: they hold 71 of the same securities.

DSP Nifty 500 Index Fund

Index

Expense ratio: 0.33%
NAV: ₹9.15

See DSP Nifty 500 Index Fund

Invesco India Multi Asset Allocation Fund

Multi Asset

Expense ratio: 0.54%
NAV: ₹12.25

See Invesco India Multi Asset Allocation Fund

Which is better, DSP Nifty 500 Index or Invesco India 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 Nifty 500 Index costs less: 0.33% a year against 0.54% (Direct plans).
Invesco India Multi Asset Allocation fell less in its worst fall since 05-01-2026: −11.0% against −14.6%.
Invesco India Multi Asset Allocation holds 11.7% of the fund in foreign stocks; DSP Nifty 500 Index 0.0%.
DSP Nifty 500 Index holds more in large companies: 66.8% of the fund in large caps against 36.1%.
Invesco India Multi Asset Allocation is the larger fund: ₹1,213 Cr against ₹17 Cr.
Their portfolios overlap 36.8%: 71 of the same holdings.

Past returns do not promise future returns. This page is information, not investment advice.

NAV comparison

How each fund's NAV moved over the same days, as % change since the first day of the range

DSP Nifty 500 Index Fund (Direct)
−8.5%
Invesco India Multi Asset Allocation Fund (Direct)
−0.6%

Change in NAV from 05-01-2026 to 30-10-2026

−15%−10%−5%0%+5%+10%

Key facts

From each fund's scheme summary document and AMFI

Fact	DSP Nifty 500 Index Fund	Invesco India Multi Asset Allocation Fund
Fund house	DSP Mutual Fund	Invesco Mutual Fund
Category	Index	Multi Asset
AUM	₹17 Cr (30-09-2026)	₹1,213 Cr (30-09-2026)
NAV	₹9.15 (Direct)	₹12.25 (Direct)
Expense ratio (Direct)	0.33%	0.54%
Expense ratio (Regular)	1.06%	1.68%
Riskometer	Very High	Very High
Benchmark	Nifty 500 TRI	Nifty 200 TRI (60%) + CRISIL 10 Year Gilt Index (30%) + Domestic Price of Gold (5%) + Domestic Price of Silver (5%)
Launch date	05-01-2026	18-12-2024
Minimum investment	₹100	Not available
Lock in	None	None
Fund managers	Anil Ghelani, Diipesh Shah, Neha Rathi	Taher Badshah, Krishna Cheemalapati, Amey Sathe
Exit load	Nil	Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 1 year.

DSP Nifty 500 Index vs Invesco India 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 Nifty 500 Index Fund (Direct)	−0.79%	−6.11%	−2.97%	--	--	--	--
Invesco India Multi Asset Allocation Fund (Direct)	−0.89%	−3.16%	−1.29%	+5.24%	--	--	--
Multi Asset average	−1.71%	−3.33%	−1.78%	+2.00%	--	--	--

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

DSP Nifty 500 Index vs Invesco India Multi Asset Allocation: Year-wise Returns

Year	DSP Nifty 500 IndexDSP Nifty 500 Index	Invesco India Multi Asset AllocationInvesco India Multi Asset Allocation
2026to date	--	+0.16%
2025	--	+24.29%

DSP Nifty 500 Index vs Invesco India Multi Asset Allocation: Rolling Returns

Every holding period of both funds, against Nifty 500 TRI, the benchmark of DSP Nifty 500 Index Fund

DSP Nifty 500 Index vs Invesco India Multi Asset Allocation: Risk and Drawdowns

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

Risk and return

Measure	DSP Nifty 500 Index Fund (Direct)	Invesco India Multi Asset Allocation Fund (Direct)
Return (CAGR)	−10.31%	+12.18%
Standard deviation	15.37%	9.73%
Sharpe ratio	-1.01	0.68
Sortino ratio	-1.34	0.93
Maximum drawdown	−14.6% (30-03-2026)	−11.0% (23-03-2026)
Beta	0.99	--
Alpha	−0.40%	--

From daily NAVs, 05-01-2026 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.

−15%−10%−5%0%

DSP Nifty 500 Index Fund (Direct)Invesco India Multi Asset Allocation 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 Nifty 500 Index Fund (Direct)	−14.6%	05-01-2026	30-03-2026	Not yet	--	−8.5%
Invesco India Multi Asset Allocation Fund (Direct)	−11.0%	29-01-2026	23-03-2026	25-08-2026	5 months	−6.0%
Nifty 500 TRI	−14.6%	05-01-2026	30-03-2026	Not yet	--	−8.2%

From daily values since 05-01-2026, the first day every fund has.

DSP Nifty 500 Index vs Invesco India Multi Asset Allocation: Portfolio Overlap

From each fund's latest monthly portfolio: DSP Nifty 500 Index Fund, September 2026; Invesco India Multi Asset Allocation Fund, September 2026

Holdings in common

Overlap: 36.8%
Held by both: 71
Only in DSP Nifty 500 Index: 427
Only in Invesco India Multi Asset Allocation: 22

Security	% of DSP Nifty 500 Index	% of Invesco India Multi Asset Allocation
HDFC Bank Limited	5.64%	4.23%
ICICI Bank Limited	4.92%	3.77%
Reliance Industries Limited	4.12%	2.03%
Bharti Airtel Limited	2.77%	1.87%
Larsen & Toubro Limited	2.28%	1.67%
Infosys Limited	1.82%	1.16%
State Bank of India	2.06%	1.13%
Bajaj Finance Limited	1.36%	1.00%
Axis Bank Limited	1.83%	0.99%
Mahindra & Mahindra Limited	1.37%	0.98%
ITC Limited	1.31%	0.95%
Kotak Mahindra Bank Limited	1.59%	0.87%
Titan Co Limited	0.98%	0.71%
Hindustan Unilever Limited	0.87%	0.62%
Sun Pharmaceutical Industries Limited	1.00%	0.60%
Eternal Limited	1.20%	0.58%
Tata Consultancy Services Limited	1.09%	0.56%
Tata Steel Limited	0.79%	0.56%
Coal India Limited	0.53%	0.51%
Oil & Natural Gas Corporation Limited	0.46%	0.50%
Maruti Suzuki India Limited	0.81%	0.45%
Ultratech Cement Limited	0.67%	0.44%
Grasim Industries Limited	0.60%	0.44%
NTPC Limited	0.80%	0.43%
Bharat Electronics Limited	0.72%	0.39%
Hindalco Industries Limited	0.71%	0.39%
Shriram Finance Limited	0.71%	0.39%
Eicher Motors Limited	0.51%	0.37%
Apollo Hospitals Enterprise Limited	0.44%	0.36%
HCL Technologies Limited	0.67%	0.34%
Divi's Laboratories Limited	0.61%	0.34%
Bajaj Auto Limited	0.62%	0.33%
Power Grid Corporation of India Limited	0.61%	0.33%
Trent Limited	0.45%	0.32%
SBI Life Insurance Co Limited	0.40%	0.32%
Asian Paints Limited	0.56%	0.30%
Interglobe Aviation Limited	0.59%	0.28%
Tech Mahindra Limited	0.50%	0.28%
Bharat Petroleum Corporation Limited	0.32%	0.28%
TVS Motor Co Limited	0.50%	0.27%
Nestle India Limited	0.49%	0.26%
Varun Beverages Limited	0.31%	0.26%
Hindustan Aeronautics Limited	0.46%	0.25%
Tata Motors Limited	0.46%	0.22%
Cipla Limited	0.39%	0.21%
Britannia Industries Limited	0.30%	0.21%
Jio Financial Services Limited	0.37%	0.20%
Samvardhana Motherson International Limited	0.37%	0.20%
Cholamandalam Investment and Finance Co Limited	0.36%	0.19%
Tata Consumer Products Limited	0.32%	0.17%
Tata Motors Passenger Vehicles Limited	0.31%	0.17%
Tata Power Co Limited	0.31%	0.17%
Avenue Supermarts Limited	0.32%	0.15%
Info Edge (India) Limited	0.25%	0.13%
GAIL (India) Limited	0.24%	0.13%
Bank of Baroda	0.22%	0.13%
Torrent Pharmaceuticals Limited	0.37%	0.12%
DLF Limited	0.22%	0.12%
Jindal Steel Limited	0.22%	0.12%
United Spirits Limited	0.21%	0.12%
REC Limited	0.19%	0.11%
Ltm Limited	0.19%	0.09%
Godrej Consumer Products Limited	0.18%	0.09%
ABB India Limited	0.18%	0.09%
Siemens Limited	0.17%	0.09%
Lodha Developers Limited	0.17%	0.09%
Union Bank Of India	0.17%	0.08%
Shree Cement Limited	0.16%	0.08%
Siemens Energy India Limited	0.15%	0.08%
Havells India Limited	0.13%	0.07%
Ambuja Cements Limited	0.12%	0.07%

Overlap: for each holding both funds own, the smaller of its two weights, added up. 36.8% means 36.8% 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 Nifty 500 Index Fund

Security	% of fund
Adani Ports and Special Economic Zone Limited	0.73%
BSE Limited	0.66%
JSW Steel Limited	0.63%
Bajaj Finserv Limited	0.52%
Adani Enterprises Limited	0.51%

Largest holdings only in Invesco India Multi Asset Allocation Fund

Security	% of fund
Invesco India Gold Exchange Traded Fund	13.38%
Mirae Asset Nifty Midcap 150 ETF	4.72%
ICICI Prudential Nifty Midcap 150 ETF	4.72%
ICICI Prudential Silver ETF	3.02%
Invesco India Ultra Short Term Fund - Direct Plan - Growth	2.60%

Asset and sector split

Share of each fund, from its latest monthly portfolio

Asset allocation

Asset	DSP Nifty 500 Index	Invesco India Multi Asset Allocation
Equity	99.1%	48.5%
Debt	0.0%	14.6%
Cash and others	0.9%	36.9%

Market cap of stocks

Market cap	DSP Nifty 500 Index	Invesco India Multi Asset Allocation
Large Cap	66.8%	36.1%
Mid Cap	20.8%	0.7%
Small Cap	11.3%	0.0%
Foreign stocks	0.0%	11.7%
Not on AMFI's list	0.1%	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 Nifty 500 Index	Invesco India Multi Asset Allocation
Banks	19.2%	11.2%
Other	0.0%	11.7%
Finance	6.4%	1.9%
Pharmaceuticals & Biotechnology	5.7%	1.3%
IT - Software	5.6%	2.4%
Petroleum Products	5.0%	2.3%
Automobiles	4.9%	2.6%

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

DSP Nifty 500 Index vs Invesco India Multi Asset Allocation: Expense Ratio

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

Charge	DSP Nifty 500 Index Fund	Invesco India Multi Asset Allocation Fund
Total expense ratio (Direct)	0.33%	0.54%
Base expense ratio (Direct)	0.17%	0.42%
Total expense ratio (Regular)	1.06%	1.68%
Base expense ratio (Regular)	0.80%	1.42%

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 Invesco India Multi Asset Allocation with

DSP Nifty 500 Index Fund vs Invesco India Multi Asset Allocation Fund: Frequently Asked Questions

What is the difference between DSP Nifty 500 Index Fund and Invesco India Multi Asset Allocation Fund?

DSP Nifty 500 Index Fund is an Index fund, Invesco India Multi Asset Allocation Fund is a Multi Asset fund, run by DSP Mutual Fund and Invesco Mutual Fund. Their portfolios overlap 36.8%. DSP Nifty 500 Index Fund charges 0.33% a year and Invesco India Multi Asset Allocation Fund 0.54%.

Which has the lower expense ratio, DSP Nifty 500 Index Fund or Invesco India Multi Asset Allocation Fund?

DSP Nifty 500 Index Fund charges less: 0.33% a year against 0.54%. These are the Direct plans' total expense ratios reported to AMFI.

How much do DSP Nifty 500 Index Fund and Invesco India Multi Asset Allocation Fund overlap?

36.8%. They hold 71 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, RELIANCE. From each fund's latest monthly portfolio.

Which is riskier, DSP Nifty 500 Index Fund or Invesco India Multi Asset Allocation Fund?

On SEBI's riskometer, DSP Nifty 500 Index Fund is rated Very High and Invesco India Multi Asset Allocation Fund Very High. Over their common history, the standard deviation of daily returns was 15.37% and 9.73% a year.

Can I invest in both DSP Nifty 500 Index Fund and Invesco India Multi Asset Allocation Fund?

Yes. 36.8% of each fund's money sits in the same holdings, so some of the two investments would move together.

Who manages DSP Nifty 500 Index Fund and Invesco India Multi Asset Allocation Fund?

DSP Nifty 500 Index Fund: Anil Ghelani, Diipesh Shah, Neha Rathi. Invesco India Multi Asset Allocation Fund: Taher Badshah, Krishna Cheemalapati, Amey Sathe.

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.