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    HDFC Multi Asset Allocation Fund vs ICICI Prudential Multi Asset Allocation Fund

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

    HDFC Multi Asset Allocation Fund and ICICI Prudential Multi Asset Allocation Fund are both Multi Asset funds. In the 3 years to 30-10-2026, HDFC Multi Asset Allocation Fund (Direct) returned 11.1% a year and ICICI Prudential Multi Asset Allocation Fund (Direct) returned 12.9% a year. HDFC Multi Asset Allocation Fund charges 1.01% a year and ICICI Prudential Multi Asset Allocation Fund 0.85% (Direct plans). Their portfolios overlap 39.4%: they hold 51 of the same securities.

    HDFC Multi Asset Allocation Fund

    Multi Asset

    3 year return
    11.1%
    Expense ratio
    1.01%
    NAV
    ₹81.63
    See HDFC Multi Asset Allocation Fund

    ICICI Prudential Multi Asset Allocation Fund

    Multi Asset

    3 year return
    12.9%
    Expense ratio
    0.85%
    NAV
    ₹853.87
    See ICICI Prudential Multi Asset Allocation Fund

    Which is better, HDFC Multi Asset Allocation or ICICI Prudential 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.

    • ICICI Prudential Multi Asset Allocation returned more over 5 years: 13.9% a year against 10.2%.
    • ICICI Prudential Multi Asset Allocation returned more over 3 years: 12.9% a year against 11.1%.
    • ICICI Prudential Multi Asset Allocation costs less: 0.85% a year against 1.01% (Direct plans).
    • HDFC Multi Asset Allocation swung less over 3 years: a standard deviation of 7.6% a year against 8.3%.
    • HDFC Multi Asset Allocation fell less in its worst fall since 02-01-2013: −27.1% against −30.6%.
    • ICICI Prudential Multi Asset Allocation is the larger fund: ₹84,108 Cr against ₹5,782 Cr.
    • Their portfolios overlap 39.4%: 51 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

    FactHDFC Multi Asset Allocation FundICICI Prudential Multi Asset Allocation Fund
    Fund houseHDFC Mutual FundICICI Prudential Mutual Fund
    CategoryMulti AssetMulti Asset
    AUM₹5,782 Cr (30-09-2026)₹84,108 Cr (30-09-2026)
    NAV₹81.63 (Direct)₹853.87 (Direct)
    Expense ratio (Direct)1.01%0.85%
    Expense ratio (Regular)2.02%1.43%
    RiskometerVery HighNot available
    Benchmark65% Nifty 50 TRI + 22.5% Nifty Composite Debt Index + 10% Domestic Price of Gold + 2.5% Domestic Price of SilverNifty 200 TRI (65%) + Nifty Composite Debt Index (25%) + Domestic Price of Gold (6%) + Domestic Price of Silver (1%) + i
    Launch date17-08-200531-10-2002
    Minimum investment₹100₹500
    Lock inNoneNone
    Fund managersIhab Dalwai, Anil Bamboli, Bhagyesh Kagalkar, Nandita Menezes, – Mr. Arun Agarwal, Gopal AgrawalSankaran Naren, Manish Banthia, Gaurav Chikane, Sharmila D'silva, Antariksha Banerjee, Akhil Kakkar, Masoomi Jurmarvala
    Exit loadExit Load for units in excess of 15% of the investment,1% will be charged for redemption within 12 months.Exit Load for units in excess of 30% of the investment,1% will be charged for redemption within 365 days.

    HDFC Multi Asset Allocation vs ICICI Prudential 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.

    Fund1M3M6M1Y3Y5Y10Y
    HDFC Multi Asset Allocation Fund (Direct)−0.73%−3.58%−1.86%−2.29%+11.12%+10.21%+10.99%
    ICICI Prudential Multi Asset Allocation Fund (Direct)−1.72%−5.05%−3.78%−3.66%+12.92%+13.95%+14.80%
    Multi Asset average−1.71%−3.33%−1.78%+2.00%+14.20%+12.56%+12.92%

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

    HDFC Multi Asset Allocation vs ICICI Prudential Multi Asset Allocation: Year-wise Returns

    YearHDFCHDFC Multi Asset AllocationICICI PrudentialICICI Prudential Multi Asset Allocation
    2026to date−3.74%−5.73%
    2025+14.45%+19.46%
    2024+14.82%+17.08%
    2023+19.43%+24.98%
    2022+5.77%+17.61%
    2021+19.65%+35.54%

    HDFC Multi Asset Allocation vs ICICI Prudential Multi Asset Allocation: Rolling Returns

    Every holding period of both funds

    Rolling returns

    Every 3-year holding period, 2,653 of them, one for each trading day from 04-01-2016 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.

    −10%0%10%20%30%40%
    Nov 2013
    to
    Nov 2016    Sept 2015
    to
    Sept 2018    Jul 2017
    to
    Jul 2020    May 2019
    to
    May 2022    Mar 2021
    to
    Mar 2024    Dec 2022
    to
    Dec 2025
    HDFC Multi Asset Allocation Fund (Direct)ICICI Prudential Multi Asset Allocation Fund (Direct)

    How the periods spread

    FundBelow 0%0-5%5-10%10-15%15-20%20-25%Above 25%MeanMedianLowestHighest
    HDFC Multi Asset Allocation0.63.829.335.828.32.00.212.1%12.8%−3.6%26.7%
    ICICI Prudential Multi Asset Allocation0.65.86.527.028.323.08.716.6%17.4%−3.8%35.2%

    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. Every fund is measured over the days all of them have, from 02-01-2013. Past returns do not promise future returns.

    HDFC Multi Asset Allocation vs ICICI Prudential Multi Asset Allocation: 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

    Step up each year
    PeriodFor

    ₹10,000 on the first trading day of every month, from 01-01-2013 to 30-10-2026: 166 instalments, ₹16,60,000 in all.

    InvestmentInvestedValue nowGainReturn a year
    HDFC Multi Asset AllocationHDFC Multi Asset Allocation Fund (Direct) ₹16,60,000 ₹38,35,886 ₹21,75,886 11.3%
    ICICI Prudential Multi Asset AllocationICICI Prudential Multi Asset Allocation Fund (Direct) ₹16,60,000 ₹51,81,831 ₹35,21,831 15.2%
    ₹0₹20.0 L₹40.0 L₹60.0 L
    2014201620182020202220242026
    HDFC Multi Asset AllocationHDFC Multi Asset Allocation Fund (Direct)ICICI Prudential Multi Asset AllocationICICI Prudential Multi Asset Allocation 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.

    HDFC Multi Asset Allocation vs ICICI Prudential Multi Asset Allocation: Risk and Drawdowns

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

    Risk and return

    MeasureHDFC Multi Asset Allocation Fund (Direct)ICICI Prudential Multi Asset Allocation Fund (Direct)
    Return (CAGR)+11.12%+12.92%
    Standard deviation7.64%8.29%
    Sharpe ratio0.670.83
    Sortino ratio0.911.16
    Maximum drawdown−8.9% (23-03-2026)−9.5% (23-03-2026)
    Beta----
    Alpha----

    From daily NAVs, 30-10-2023 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.

    −40%−30%−20%−10%0%
    2014201620182020202220242026
    HDFC Multi Asset Allocation Fund (Direct)ICICI Prudential Multi Asset Allocation Fund (Direct)
    FundWorst fallHigh before itBottomBack at the highTime to climb backBelow its high today
    HDFC Multi Asset Allocation Fund (Direct)−27.1%20-02-202023-03-202023-07-20204 months−6.2%
    ICICI Prudential Multi Asset Allocation Fund (Direct)−30.6%17-01-202023-03-202001-12-20208 months−7.1%

    From daily values since 02-01-2013, 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 3-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.

    0%5%10%15%20%
    20172019202120232025
    HDFC Multi Asset Allocation Fund (Direct)ICICI Prudential Multi Asset Allocation Fund (Direct)

    HDFC Multi Asset Allocation vs ICICI Prudential Multi Asset Allocation: Portfolio Overlap

    From each fund's latest monthly portfolio: HDFC Multi Asset Allocation Fund, September 2026; ICICI Prudential Multi Asset Allocation Fund, September 2026

    Holdings in common

    Overlap
    39.4%
    Held by both
    51
    Only in HDFC Multi Asset Allocation
    62
    Only in ICICI Prudential Multi Asset Allocation
    175
    Security% of HDFC Multi Asset Allocation% of ICICI Prudential Multi Asset Allocation
    HDFC Bank Ltd.6.86%6.07%
    ICICI Bank Ltd.4.74%3.57%
    Reliance Industries Ltd.4.86%3.17%
    Axis Bank Ltd.2.54%2.34%
    Bharti Airtel Ltd.2.89%1.55%
    NTPC Limited1.87%1.41%
    Maruti Suzuki India Limited1.94%1.37%
    Kotak Mahindra Bank Limited2.60%1.30%
    InterGlobe Aviation Ltd.1.29%1.89%
    Infosys Limited1.29%1.14%

    Overlap: for each holding both funds own, the smaller of its two weights, added up. 39.4% means 39.4% 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 Multi Asset Allocation Fund

    Security% of fund
    HDFC Gold Exchange Traded Fund11.71%
    HDFC Silver ETF1.81%
    Divis Laboratories Ltd.1.61%
    Muthoot Finance Ltd.1.29%
    7.18% GOI MAT 1408331.20%

    Largest holdings only in ICICI Prudential Multi Asset Allocation Fund

    Security% of fund
    ICICI Prudential Gold ETF10.07%
    Life Insurance Corporation of India3.76%
    SBI Cards & Payment Services Ltd.1.44%
    HDFC Bank Ltd.1.33%
    IndusInd Bank Ltd.1.22%

    Asset and sector split

    Share of each fund, from its latest monthly portfolio

    Asset allocation

    AssetHDFC Multi Asset AllocationICICI Prudential Multi Asset Allocation
    Equity69.1%67.3%
    Debt11.2%15.0%
    Cash and others19.7%17.7%

    Market cap of stocks

    Market capHDFC Multi Asset AllocationICICI Prudential Multi Asset Allocation
    Large Cap56.0%49.2%
    Mid Cap5.3%12.1%
    Small Cap7.8%5.4%
    Foreign stocks0.0%0.2%
    Not on AMFI's list0.0%0.4%

    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

    SectorHDFC Multi Asset AllocationICICI Prudential Multi Asset Allocation
    Banks18.0%15.5%
    Insurance3.3%6.5%
    Petroleum Products5.4%3.4%
    Automobiles5.3%4.1%
    Pharmaceuticals & Biotechnology4.6%2.8%
    Finance2.3%4.5%
    IT - Software4.1%0.0%
    Telecom - Services3.5%1.6%
    Retailing0.9%3.3%

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

    HDFC Multi Asset Allocation vs ICICI Prudential Multi Asset Allocation: Expense Ratio

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

    ChargeHDFC Multi Asset Allocation FundICICI Prudential Multi Asset Allocation Fund
    Total expense ratio (Direct)1.01%0.85%
    Base expense ratio (Direct)0.73%0.57%
    Total expense ratio (Regular)2.02%1.43%
    Base expense ratio (Regular)1.58%1.07%

    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

    HDFC Multi Asset Allocation Fund vs ICICI Prudential Multi Asset Allocation Fund: Frequently Asked Questions

    What is the difference between HDFC Multi Asset Allocation Fund and ICICI Prudential Multi Asset Allocation Fund?

    Both are Multi Asset funds, run by HDFC Mutual Fund and ICICI Prudential Mutual Fund. Their portfolios overlap 39.4%. HDFC Multi Asset Allocation Fund charges 1.01% a year and ICICI Prudential Multi Asset Allocation Fund 0.85%.

    Which has given higher returns, HDFC Multi Asset Allocation Fund or ICICI Prudential Multi Asset Allocation Fund?

    Over 1 year: HDFC Multi Asset Allocation Fund −2.29%, ICICI Prudential Multi Asset Allocation Fund −3.66%. Over 3 years: HDFC Multi Asset Allocation Fund +11.12% a year, ICICI Prudential Multi Asset Allocation Fund +12.92% a year. Over 5 years: HDFC Multi Asset Allocation Fund +10.21% a year, ICICI Prudential Multi Asset Allocation Fund +13.95% a year. As on 30-10-2026. Past returns do not promise future returns.

    Which has the lower expense ratio, HDFC Multi Asset Allocation Fund or ICICI Prudential Multi Asset Allocation Fund?

    ICICI Prudential Multi Asset Allocation Fund charges less: 0.85% a year against 1.01%. These are the Direct plans' total expense ratios reported to AMFI.

    How much do HDFC Multi Asset Allocation Fund and ICICI Prudential Multi Asset Allocation Fund overlap?

    39.4%. They hold 51 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, RELIANCE. From each fund's latest monthly portfolio.

    Which is better for SIP, HDFC Multi Asset Allocation Fund or ICICI Prudential Multi Asset Allocation Fund?

    Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,72,363 in HDFC Multi Asset Allocation Fund (XIRR 9.2% a year) and ₹8,21,595 in ICICI Prudential Multi Asset Allocation Fund (XIRR 11.7% a year). Both received 61 instalments. Past returns do not promise future returns.

    Can I invest in both HDFC Multi Asset Allocation Fund and ICICI Prudential Multi Asset Allocation Fund?

    Yes. 39.4% of each fund's money sits in the same holdings, so some of the two investments would move together.

    Who manages HDFC Multi Asset Allocation Fund and ICICI Prudential Multi Asset Allocation Fund?

    HDFC Multi Asset Allocation Fund: Ihab Dalwai, Anil Bamboli, Bhagyesh Kagalkar, Nandita Menezes, – Mr. Arun Agarwal, Gopal Agrawal. ICICI Prudential Multi Asset Allocation Fund: Sankaran Naren, Manish Banthia, Gaurav Chikane, Sharmila D'silva, Antariksha Banerjee, Akhil Kakkar, Masoomi Jurmarvala.

    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.

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