Franklin India Multi Cap Fund vs HSBC Multi Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Franklin India Multi Cap Fund and HSBC Multi Cap Fund are both Multi Cap funds. In the year to 30-10-2026, Franklin India Multi Cap Fund (Direct) returned −2.7% and HSBC Multi Cap Fund (Direct) returned −0.1%. Franklin India Multi Cap Fund charges 0.98% a year and HSBC Multi Cap Fund 0.80% (Direct plans). Their portfolios overlap 15.0%: they hold 15 of the same securities.
Franklin India Multi Cap Fund
Multi Cap
- 1 year return
- −2.7%
- Expense ratio
- 0.98%
- NAV
- ₹10.61
Which is better, Franklin India Multi Cap or HSBC Multi Cap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HSBC Multi Cap returned more over 1 year: −0.1% against −2.7%.
- HSBC Multi Cap costs less: 0.80% a year against 0.98% (Direct plans).
- Franklin India Multi Cap fell less in its worst fall since 29-07-2024: −18.7% against −20.1%.
- HSBC Multi Cap is the larger fund: ₹6,380 Cr against ₹5,117 Cr.
- Their portfolios overlap 15.0%: 15 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 | Franklin India Multi Cap Fund | HSBC Multi Cap Fund |
|---|---|---|
| Fund house | Franklin Templeton Mutual Fund | HSBC Mutual Fund |
| Category | Multi Cap | Multi Cap |
| AUM | ₹5,117 Cr (30-09-2026) | ₹6,380 Cr (30-09-2026) |
| NAV | ₹10.61 (Direct) | ₹19.86 (Direct) |
| Expense ratio (Direct) | 0.98% | 0.80% |
| Expense ratio (Regular) | 2.32% | 2.04% |
| Riskometer | Not available | Very High |
| Benchmark | Not available | NIFTY 500 Multicap 50:25:25 Total Return Index |
| Launch date | Not available | 30-01-2023 |
| Minimum investment | Not available | ₹5,000 |
| Lock in | Not available | None |
| Fund managers | Not available | Venugopal Manghat, Mahesh Chhabria, Mayank Chaturvedi, Dipan S. Parikh |
| Exit load | Not available | Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 1 year. |
Franklin India Multi Cap vs HSBC Multi Cap: 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 |
|---|---|---|---|---|---|---|---|
| Franklin India Multi Cap Fund (Direct) | −4.54% | −4.05% | +2.32% | −2.67% | -- | -- | -- |
| HSBC Multi Cap Fund (Direct) | −3.78% | −3.51% | +0.87% | −0.09% | +16.40% | -- | -- |
| Multi Cap average | −2.65% | −3.95% | +1.99% | −1.14% | +13.54% | -- | -- |
Category average: the average of the 33 Multi Cap funds, same plan type.
Franklin India Multi Cap vs HSBC Multi Cap: Year-wise Returns
| Year | Franklin IndiaFranklin India Multi Cap | HSBCHSBC Multi Cap | Nifty500 Multicap 50:25:25 TRI |
|---|---|---|---|
| 2026to date | −2.19% | +0.60% | −5.56% |
| 2025 | +6.49% | +2.42% | +5.29% |
| 2024 | -- | +30.28% | +19.34% |
Franklin India Multi Cap vs HSBC Multi Cap: Rolling Returns
Every holding period of both funds, against Nifty500 Multicap 50:25:25 TRI, the benchmark of both
Rolling returns
Every 1-year holding period, 308 of them, one for each trading day from 29-07-2025 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.
Franklin India Multi Cap Fund (Direct)
HSBC Multi Cap Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
to
Sept 2025Nov 2024
to
Nov 2025Feb 2025
to
Feb 2026Apr 2025
to
Apr 2026Jul 2025
to
Jul 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Franklin India Multi Cap | 7.5 | 31.8 | 40.6 | 14.9 | 4.9 | 0.3 | 0.0 | 6.5% | 6.2% | −4.5% | 20.5% | 100% |
| HSBC Multi Cap | 16.2 | 22.1 | 37.0 | 19.2 | 5.5 | 0.0 | 0.0 | 6.1% | 6.3% | −4.3% | 19.8% | 84% |
| Nifty500 Multicap 50:25:25 TRI | 28.9 | 35.7 | 27.6 | 5.8 | 1.9 | 0.0 | 0.0 | 3.1% | 2.5% | −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 29-07-2024. Past returns do not promise future returns.
Franklin India Multi Cap vs HSBC Multi Cap: 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 29-07-2024 to 30-10-2026: 28 instalments, ₹2,80,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Franklin India Multi CapFranklin India Multi Cap Fund (Direct) | ₹2,80,000 | ₹2,89,511 | ₹9,511 | 2.8% |
| HSBC Multi CapHSBC Multi Cap Fund (Direct) | ₹2,80,000 | ₹2,90,967 | ₹10,967 | 3.2% |
Franklin India Multi CapFranklin India Multi Cap Fund (Direct)
HSBC Multi CapHSBC Multi Cap 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.
Franklin India Multi Cap vs HSBC Multi Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Franklin India Multi Cap Fund (Direct) | HSBC Multi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −2.67% | −0.09% |
| Standard deviation | 15.86% | 15.62% |
| Sharpe ratio | -0.50 | -0.34 |
| Sortino ratio | -0.68 | -0.46 |
| Maximum drawdown | −15.7% (31-03-2026) | −13.1% (23-03-2026) |
| Beta | 1.02 | 1.00 |
| Alpha | +3.55% | +6.01% |
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 | Franklin India Multi Cap Fund (Direct) | HSBC Multi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +2.67% | +20.09% |
| Standard deviation | 14.98% | 15.03% |
| Sharpe ratio | -0.21 | 0.93 |
| Sortino ratio | -0.28 | 1.26 |
| Maximum drawdown | −18.7% (28-02-2025) | −20.1% (28-02-2025) |
| Beta | 0.97 | 1.03 |
| Alpha | +4.06% | +5.75% |
From daily NAVs, 29-07-2024 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.
Franklin India Multi Cap Fund (Direct)
HSBC Multi Cap Fund (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 |
|---|---|---|---|---|---|---|
| Franklin India Multi Cap Fund (Direct) | −18.7% | 23-09-2024 | 28-02-2025 | 18-09-2025 | 7 months | −8.0% |
| HSBC Multi Cap Fund (Direct) | −20.1% | 16-12-2024 | 28-02-2025 | 06-05-2026 | 14 months | −8.3% |
| 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 29-07-2024, 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.
Franklin India Multi Cap Fund (Direct)
HSBC Multi Cap Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
Against Nifty500 Multicap 50:25:25 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Franklin India Multi Cap Fund (Direct) | 114% | 94% | 4.33% |
| HSBC Multi Cap Fund (Direct) | 115% | 98% | 4.71% |
From month-end values since 29-07-2024. 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.
Franklin India Multi Cap vs HSBC Multi Cap: Portfolio Overlap
From each fund's latest monthly portfolio: Franklin India Multi Cap Fund, September 2026; HSBC Multi Cap Fund, September 2026
Holdings in common
- Overlap
- 15.0%
- Held by both
- 15
- Only in Franklin India Multi Cap
- 37
- Only in HSBC Multi Cap
- 85
| Security | % of Franklin India Multi Cap | % of HSBC Multi Cap |
|---|---|---|
| HDFC Bank Ltd | 2.43% | 2.85% |
| Reliance Industries Ltd | 1.95% | 1.87% |
| Lenskart Solutions Ltd | 1.76% | 1.38% |
| Bharti Airtel Ltd | 1.40% | 1.16% |
| Hindustan Aeronautics Ltd | 5.36% | 1.04% |
| Ultratech Cement Ltd | 1.05% | 1.01% |
| TVS Motor Co Ltd | 0.99% | 1.10% |
| Torrent Pharmaceuticals Ltd | 2.04% | 0.93% |
| City Union Bank Ltd | 1.62% | 0.91% |
| Kirloskar Oil Engines Ltd | 2.51% | 0.74% |
| Aster DM Quality Care Ltd | 1.70% | 0.67% |
| NTPC Ltd | 1.54% | 0.66% |
| Piramal Finance Ltd | 1.97% | 0.57% |
| Bajaj Finance Ltd | 1.95% | 0.38% |
| One 97 Communications Ltd | 0.71% | 0.29% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 15.0% means 15.0% 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 Franklin India Multi Cap Fund
| Security | % of fund |
|---|---|
| Syrma SGS Technology Ltd | 4.80% |
| Cyient DLM Ltd | 4.05% |
| Axis Bank Ltd | 3.17% |
| Bosch Ltd | 3.13% |
| Dixon Technologies (India) Ltd | 3.04% |
Largest holdings only in HSBC Multi Cap Fund
| Security | % of fund |
|---|---|
| TD Power Systems Limited | 3.10% |
| APAR INDUSTRIES LTD | 2.39% |
| The Federal Bank Limited | 2.33% |
| Radico Khaitan Limited | 2.31% |
| Engineers India Limited | 2.27% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Franklin India Multi Cap | HSBC Multi Cap |
|---|---|---|
| Equity | 93.8% | 97.5% |
| Debt | 0.5% | 0.0% |
| Cash and others | 5.7% | 2.5% |
Market cap of stocks
| Market cap | Franklin India Multi Cap | HSBC Multi Cap |
|---|---|---|
| Large Cap | 29.0% | 36.1% |
| Mid Cap | 32.9% | 25.9% |
| Small Cap | 31.9% | 31.1% |
| Not on AMFI's list | 0.0% | 4.5% |
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 | Franklin India Multi Cap | HSBC Multi Cap |
|---|---|---|
| Banks | 9.0% | 13.7% |
| Industrial Products | 13.3% | 7.4% |
| Aerospace & Defense | 12.2% | 2.3% |
| Electrical Equipment | 0.0% | 11.0% |
| Pharmaceuticals & Biotechnology | 10.8% | 8.6% |
| Auto Components | 5.8% | 1.4% |
| Finance | 5.5% | 4.1% |
| Capital Markets | 0.0% | 4.5% |
| Automobiles | 3.2% | 4.5% |
The six largest sectors of each fund's stocks, % of the fund.
Franklin India Multi Cap vs HSBC Multi Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Franklin India Multi Cap Fund | HSBC Multi Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.98% | 0.80% |
| Base expense ratio (Direct) | 0.45% | 0.52% |
| Total expense ratio (Regular) | 2.32% | 2.04% |
| Base expense ratio (Regular) | 1.61% | 1.57% |
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 Franklin India Multi Cap with
Franklin India Multi Cap Fund vs HSBC Multi Cap Fund: Frequently Asked Questions
What is the difference between Franklin India Multi Cap Fund and HSBC Multi Cap Fund?
Both are Multi Cap funds, run by Franklin Templeton Mutual Fund and HSBC Mutual Fund. Their portfolios overlap 15.0%. Franklin India Multi Cap Fund charges 0.98% a year and HSBC Multi Cap Fund 0.80%.
Which has given higher returns, Franklin India Multi Cap Fund or HSBC Multi Cap Fund?
Over 1 year: Franklin India Multi Cap Fund −2.67%, HSBC Multi Cap Fund −0.09%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Franklin India Multi Cap Fund or HSBC Multi Cap Fund?
HSBC Multi Cap Fund charges less: 0.80% a year against 0.98%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Franklin India Multi Cap Fund and HSBC Multi Cap Fund overlap?
15.0%. They hold 15 of the same securities, the largest shared ones being HDFCBANK, RELIANCE, LENSKART. From each fund's latest monthly portfolio.
Can I invest in both Franklin India Multi Cap Fund and HSBC Multi Cap Fund?
Yes. 15.0% 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.