HDFC Diversified Equity All Cap Active FOF vs HDFC Multi-Asset Active FOF
Direct Plan, Growth option · Data as on 30-10-2026
HDFC Diversified Equity All Cap Active FOF is a Fund of Funds fund and HDFC Multi-Asset Active FOF is a Fund of Funds fund. In the year to 30-10-2026, HDFC Diversified Equity All Cap Active FOF (Direct) returned −6.6% and HDFC Multi-Asset Active FOF (Direct) returned −0.0%. HDFC Diversified Equity All Cap Active FOF charges 0.30% a year and HDFC Multi-Asset Active FOF 0.14% (Direct plans). Their portfolios overlap 45.8%: they hold 4 of the same securities.
HDFC Diversified Equity All Cap Active FOF
Fund of Funds
- 1 year return
- −6.6%
- Expense ratio
- 0.30%
- NAV
- ₹9.68
HDFC Multi-Asset Active FOF
Fund of Funds
- 1 year return
- −0.0%
- Expense ratio
- 0.14%
- NAV
- ₹20.06
Which is better, HDFC Diversified Equity All Cap Active FOF or HDFC Multi-Asset Active FOF? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HDFC Multi-Asset Active FOF returned more over 1 year: −0.0% against −6.6%.
- HDFC Multi-Asset Active FOF costs less: 0.14% a year against 0.30% (Direct plans).
- HDFC Multi-Asset Active FOF fell less in its worst fall since 29-09-2025: −8.8% against −13.6%.
- HDFC Multi-Asset Active FOF is the larger fund: ₹5,956 Cr against ₹2,583 Cr.
- Their portfolios overlap 45.8%: 4 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 | HDFC Diversified Equity All Cap Active FOF | HDFC Multi-Asset Active FOF |
|---|---|---|
| Fund house | HDFC Mutual Fund | HDFC Mutual Fund |
| Category | Fund of Funds | Fund of Funds |
| AUM | ₹2,583 Cr (30-09-2026) | ₹5,956 Cr (30-09-2026) |
| NAV | ₹9.68 (Direct) | ₹20.06 (Direct) |
| Expense ratio (Direct) | 0.30% | 0.14% |
| Expense ratio (Regular) | 1.25% | 1.12% |
| Riskometer | Very High | High |
| Benchmark | Nifty 500 TRI | 50% NIFTY 50 TRI + 40% NIFTY Composite Debt Index + 10% Gold derived as per regulatory norms |
| Launch date | 29-09-2025 | 05-05-2021 |
| Minimum investment | ₹100 | ₹100 |
| Lock in | None | None |
| Fund managers | FM - Ihab Dalwai | Ihab Dalwai, Bhagyesh Kagalkar, Anil Bamboli |
| Exit load | • In respect of each purchase / switch-in of Units, an Exit Load of 1.00% is payable if Units are redeemed/ switched-out within 1 year from the date of allotment. • No Exit Load is payable if Units are redeemed / switched-out after 1 Year from the date of allotment. | In respect of each purchase / switch-in of Units, upto 15% of the units may be redeemed without any exit load from the date of allotment. Any redemption in excess of the above limit shall be subject to the following exit load: - Exit load of 1.00% is payable if Units are redeemed / switched-out within 1 year from the date of allotment of units. - No Exit Load is payable if Units are redeemed / switched-out after 1 year from the date of allotment. |
HDFC Diversified Equity All Cap Active FOF vs HDFC Multi-Asset Active FOF: 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 |
|---|---|---|---|---|---|---|---|
| HDFC Diversified Equity All Cap Active FOF (Direct) | −0.73% | −5.50% | −0.69% | −6.56% | -- | -- | -- |
| HDFC Multi-Asset Active FOF (Direct) | −0.71% | −3.33% | −0.06% | −0.03% | +12.43% | +11.98% | -- |
HDFC Diversified Equity All Cap Active FOF vs HDFC Multi-Asset Active FOF: Year-wise Returns
| Year | Diversified Equity All CapHDFC Diversified Equity All Cap Active FOF | Multi-AssetHDFC Multi-Asset Active FOF |
|---|---|---|
| 2026to date | −6.20% | −1.51% |
| 2025 | -- | +14.91% |
| 2024 | -- | +15.21% |
| 2023 | -- | +22.45% |
| 2022 | -- | +10.37% |
HDFC Diversified Equity All Cap Active FOF vs HDFC Multi-Asset Active FOF: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of HDFC Diversified Equity All Cap Active FOF
Rolling returns
Every 1-year holding period, 20 of them, one for each trading day from 29-09-2026 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.
HDFC Diversified Equity All Cap Active FOF (Direct)
HDFC Multi-Asset Active FOF (Direct)
Nifty 500 TRI
to
Oct 2026Oct 2025
to
Oct 2026Oct 2025
to
Oct 2026Oct 2025
to
Oct 2026Oct 2025
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Oct 2026Oct 2025
to
Oct 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HDFC Diversified Equity All Cap Active FOF | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | −5.0% | −4.6% | −8.2% | −2.4% | 70% |
| HDFC Multi-Asset Active FOF | 30.0 | 70.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 1.1% | 1.1% | −1.4% | 3.5% | 100% |
| Nifty 500 TRI | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | −5.3% | −4.8% | −9.0% | −1.9% | -- |
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 Nifty 500 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 29-09-2025. Past returns do not promise future returns.
HDFC Diversified Equity All Cap Active FOF vs HDFC Multi-Asset Active FOF: 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 29-09-2025 to 30-10-2026: 14 instalments, ₹1,40,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HDFC Diversified Equity All Cap Active FOFHDFC Diversified Equity All Cap Active FOF (Direct) | ₹1,40,000 | ₹1,35,507 | −₹4,493 | −5.2% |
| HDFC Multi-Asset Active FOFHDFC Multi-Asset Active FOF (Direct) | ₹1,40,000 | ₹1,39,250 | −₹750 | −0.9% |
HDFC Diversified Equity All Cap Active FOFHDFC Diversified Equity All Cap Active FOF (Direct)
HDFC Multi-Asset Active FOFHDFC Multi-Asset Active FOF (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.
HDFC Diversified Equity All Cap Active FOF vs HDFC Multi-Asset Active FOF: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HDFC Diversified Equity All Cap Active FOF (Direct) | HDFC Multi-Asset Active FOF (Direct) |
|---|---|---|
| Return (CAGR) | −6.56% | −0.03% |
| Standard deviation | 13.18% | 9.36% |
| Sharpe ratio | -0.90 | -0.56 |
| Sortino ratio | -1.19 | -0.76 |
| Maximum drawdown | −13.6% (30-03-2026) | −8.8% (23-03-2026) |
| Beta | 0.91 | -- |
| Alpha | −0.40% | -- |
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 | HDFC Diversified Equity All Cap Active FOF (Direct) | HDFC Multi-Asset Active FOF (Direct) |
|---|---|---|
| Return (CAGR) | −3.05% | +13.46% |
| Standard deviation | 12.76% | 7.26% |
| Sharpe ratio | -0.65 | 1.09 |
| Sortino ratio | -0.87 | 1.51 |
| Maximum drawdown | −13.6% (30-03-2026) | −8.8% (23-03-2026) |
| Beta | 0.90 | -- |
| Alpha | −1.24% | -- |
From daily NAVs, 29-09-2025 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.
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.
HDFC Diversified Equity All Cap Active FOF (Direct)
HDFC Multi-Asset Active FOF (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HDFC Diversified Equity All Cap Active FOF (Direct) | −13.6% | 07-01-2026 | 30-03-2026 | 03-08-2026 | 4 months | −7.3% |
| HDFC Multi-Asset Active FOF (Direct) | −8.8% | 29-01-2026 | 23-03-2026 | 03-08-2026 | 4 months | −5.3% |
| Nifty 500 TRI | −14.7% | 02-01-2026 | 30-03-2026 | Not yet | -- | −8.4% |
From daily values since 29-09-2025, 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.
HDFC Diversified Equity All Cap Active FOF (Direct)
HDFC Multi-Asset Active FOF (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| HDFC Diversified Equity All Cap Active FOF (Direct) | 92% | 97% | 3.21% |
| HDFC Multi-Asset Active FOF (Direct) | 65% | 46% | 8.72% |
From month-end values since 29-09-2025. 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.
HDFC Diversified Equity All Cap Active FOF vs HDFC Multi-Asset Active FOF: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC Diversified Equity All Cap Active FOF, September 2026; HDFC Multi-Asset Active FOF, September 2026
Holdings in common
- Overlap
- 45.8%
- Held by both
- 4
- Only in HDFC Diversified Equity All Cap Active FOF
- 1
- Only in HDFC Multi-Asset Active FOF
- 14
| Security | % of HDFC Diversified Equity All Cap Active FOF | % of HDFC Multi-Asset Active FOF |
|---|---|---|
| HDFC Large Cap Fund - Direct Plan - Growth Option | 33.90% | 19.20% |
| HDFC Flexi Cap Fund - Direct Plan- Growth Option | 27.83% | 17.52% |
| HDFC Small Cap Fund - Direct Plan- Growth Option | 12.30% | 6.01% |
| HDFC Large & Mid Cap Fund - Direct Plan- Growth Option | 14.03% | 3.04% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 45.8% means 45.8% 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 HDFC Diversified Equity All Cap Active FOF
| Security | % of fund |
|---|---|
| HDFC Multi Cap Fund - Direct Plan - Growth Option | 8.93% |
Largest holdings only in HDFC Multi-Asset Active FOF
| Security | % of fund |
|---|---|
| HDFC Gold Exchange Traded Fund | 11.96% |
| HDFC Short Term Fund - Growth Option - Direct Plan | 9.05% |
| HDFC Corporate Bond Fund - Growth Option - Direct Plan | 7.88% |
| HDFC Medium Term Fund - Growth Option - Direct Plan | 4.07% |
| HDFC Banking & Financial Services Fund - Direct Plan - Growth Option | 3.59% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC Diversified Equity All Cap Active FOF | HDFC Multi-Asset Active FOF |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 100.0% | 100.0% |
HDFC Diversified Equity All Cap Active FOF vs HDFC Multi-Asset Active FOF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC Diversified Equity All Cap Active FOF | HDFC Multi-Asset Active FOF |
|---|---|---|
| Total expense ratio (Direct) | 0.30% | 0.14% |
| Base expense ratio (Direct) | 0.26% | 0.12% |
| Total expense ratio (Regular) | 1.25% | 1.12% |
| Base expense ratio (Regular) | 1.09% | 0.95% |
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.
HDFC Diversified Equity All Cap Active FOF vs HDFC Multi-Asset Active FOF: Frequently Asked Questions
What is the difference between HDFC Diversified Equity All Cap Active FOF and HDFC Multi-Asset Active FOF?
HDFC Diversified Equity All Cap Active FOF is a Fund of Funds fund, HDFC Multi-Asset Active FOF is a Fund of Funds fund, run by HDFC Mutual Fund. Their portfolios overlap 45.8%. HDFC Diversified Equity All Cap Active FOF charges 0.30% a year and HDFC Multi-Asset Active FOF 0.14%.
Which has given higher returns, HDFC Diversified Equity All Cap Active FOF or HDFC Multi-Asset Active FOF?
Over 1 year: HDFC Diversified Equity All Cap Active FOF −6.56%, HDFC Multi-Asset Active FOF −0.03%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HDFC Diversified Equity All Cap Active FOF or HDFC Multi-Asset Active FOF?
HDFC Multi-Asset Active FOF charges less: 0.14% a year against 0.30%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HDFC Diversified Equity All Cap Active FOF and HDFC Multi-Asset Active FOF overlap?
45.8%. They hold 4 of the same securities, the largest shared ones being HDFC Large Cap Fund - Direct Plan - Growth Option, HDFC Flexi Cap Fund - Direct Plan- Growth Option, HDFC Small Cap Fund - Direct Plan- Growth Option. From each fund's latest monthly portfolio.
Which is riskier, HDFC Diversified Equity All Cap Active FOF or HDFC Multi-Asset Active FOF?
On SEBI's riskometer, HDFC Diversified Equity All Cap Active FOF is rated Very High and HDFC Multi-Asset Active FOF High. Over 1 years, the standard deviation of daily returns was 13.18% and 9.36% a year.
Can I invest in both HDFC Diversified Equity All Cap Active FOF and HDFC Multi-Asset Active FOF?
Yes. 45.8% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages HDFC Diversified Equity All Cap Active FOF and HDFC Multi-Asset Active FOF?
HDFC Diversified Equity All Cap Active FOF: FM - Ihab Dalwai. HDFC Multi-Asset Active FOF: Ihab Dalwai, Bhagyesh Kagalkar, Anil Bamboli.
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.