HSBC Multi Cap Fund vs UTI Multi Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
HSBC Multi Cap Fund and UTI Multi Cap Fund are both Multi Cap funds. In the year to 30-10-2026, HSBC Multi Cap Fund (Direct) returned −0.1% and UTI Multi Cap Fund (Direct) returned −4.6%. HSBC Multi Cap Fund charges 0.80% a year and UTI Multi Cap Fund 1.10% (Direct plans). Their portfolios overlap 17.3%: they hold 14 of the same securities.
Which is better, HSBC Multi Cap or UTI 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 −4.6%.
- HSBC Multi Cap costs less: 0.80% a year against 1.10% (Direct plans).
- HSBC Multi Cap fell less in its worst fall since 20-05-2025: −13.1% against −14.1%.
- HSBC Multi Cap is the larger fund: ₹6,380 Cr against ₹2,113 Cr.
- Their portfolios overlap 17.3%: 14 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 | HSBC Multi Cap Fund | UTI Multi Cap Fund |
|---|---|---|
| Fund house | HSBC Mutual Fund | UTI Mutual Fund |
| Category | Multi Cap | Multi Cap |
| AUM | ₹6,380 Cr (30-09-2026) | ₹2,113 Cr (30-09-2026) |
| NAV | ₹19.86 (Direct) | ₹10.21 (Direct) |
| Expense ratio (Direct) | 0.80% | 1.10% |
| Expense ratio (Regular) | 2.04% | 2.26% |
| Riskometer | Very High | Very High |
| Benchmark | NIFTY 500 Multicap 50:25:25 Total Return Index | NIFTY 500 Multicap 50:25:25 Total Return Index |
| Launch date | 30-01-2023 | 16-05-2025 |
| Minimum investment | ₹5,000 | Direct Plan - Growth Option (Rs 1000)Regular Plan -Growth Option (Rs 1000) |
| Lock in | None | None |
| Fund managers | Venugopal Manghat, Mahesh Chhabria, Mayank Chaturvedi, Dipan S. Parikh | Karthikraj Lakshmanan |
| Exit load | Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 1 year. | 1% if redeemed/ switched-out within 90 days from the date of allotment; Nil thereafter |
HSBC Multi Cap vs UTI 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 |
|---|---|---|---|---|---|---|---|
| HSBC Multi Cap Fund (Direct) | −3.78% | −3.51% | +0.87% | −0.09% | +16.40% | -- | -- |
| UTI Multi Cap Fund (Direct) | −3.12% | −5.19% | +0.15% | −4.61% | -- | -- | -- |
| Multi Cap average | −2.65% | −3.95% | +1.99% | −1.14% | -- | -- | -- |
Category average: the average of the 33 Multi Cap funds, same plan type.
HSBC Multi Cap vs UTI Multi Cap: Year-wise Returns
| Year | HSBCHSBC Multi Cap | UTIUTI Multi Cap | Nifty500 Multicap 50:25:25 TRI |
|---|---|---|---|
| 2026to date | +0.60% | −5.07% | −5.56% |
| 2025 | +2.42% | -- | +5.29% |
| 2024 | +30.28% | -- | +19.34% |
HSBC Multi Cap vs UTI 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, 111 of them, one for each trading day from 20-05-2026 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.
HSBC Multi Cap Fund (Direct)
UTI Multi Cap Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
to
Jun 2026Jun 2025
to
Jun 2026Jul 2025
to
Jul 2026Aug 2025
to
Aug 2026Sept 2025
to
Sept 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HSBC Multi Cap | 4.5 | 9.0 | 61.3 | 25.2 | 0.0 | 0.0 | 0.0 | 7.7% | 7.4% | −2.4% | 14.7% | 100% |
| UTI Multi Cap | 15.3 | 57.7 | 27.0 | 0.0 | 0.0 | 0.0 | 0.0 | 2.8% | 2.4% | −5.9% | 8.8% | 95% |
| Nifty500 Multicap 50:25:25 TRI | 28.8 | 53.2 | 18.0 | 0.0 | 0.0 | 0.0 | 0.0 | 1.5% | 1.3% | −7.6% | 8.5% | -- |
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 20-05-2025. Past returns do not promise future returns.
HSBC Multi Cap vs UTI 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 02-05-2025 to 30-10-2026: 18 instalments, ₹1,80,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HSBC Multi CapHSBC Multi Cap Fund (Direct) | ₹1,80,000 | ₹1,83,341 | ₹3,341 | 2.4% |
| UTI Multi CapUTI Multi Cap Fund (Direct) | ₹1,80,000 | ₹1,77,702 | −₹2,298 | −1.6% |
HSBC Multi CapHSBC Multi Cap Fund (Direct)
UTI Multi CapUTI 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.
HSBC Multi Cap vs UTI Multi Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HSBC Multi Cap Fund (Direct) | UTI Multi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −0.09% | −4.61% |
| Standard deviation | 15.62% | 13.06% |
| Sharpe ratio | -0.34 | -0.75 |
| Sortino ratio | -0.46 | -1.00 |
| Maximum drawdown | −13.1% (23-03-2026) | −14.1% (30-03-2026) |
| Beta | 1.00 | 0.85 |
| Alpha | +6.01% | −0.26% |
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 | HSBC Multi Cap Fund (Direct) | UTI Multi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +20.09% | +1.70% |
| Standard deviation | 15.03% | 11.83% |
| Sharpe ratio | 0.93 | -0.31 |
| Sortino ratio | 1.26 | -0.41 |
| Maximum drawdown | −20.1% (28-02-2025) | −14.1% (30-03-2026) |
| Beta | 1.03 | 0.85 |
| Alpha | +5.75% | +0.82% |
From daily NAVs, 03-02-2023 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.
HSBC Multi Cap Fund (Direct)
UTI 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 |
|---|---|---|---|---|---|---|
| HSBC Multi Cap Fund (Direct) | −13.1% | 03-11-2025 | 23-03-2026 | 06-05-2026 | 44 days | −8.3% |
| UTI Multi Cap Fund (Direct) | −14.1% | 05-01-2026 | 30-03-2026 | 03-08-2026 | 4 months | −7.3% |
| Nifty500 Multicap 50:25:25 TRI | −14.6% | 02-01-2026 | 30-03-2026 | 06-07-2026 | 3 months | −8.0% |
From daily values since 20-05-2025, 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.
HSBC Multi Cap Fund (Direct)
UTI Multi Cap Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
Against Nifty500 Multicap 50:25:25 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| HSBC Multi Cap Fund (Direct) | 119% | 93% | 4.58% |
| UTI Multi Cap Fund (Direct) | 94% | 84% | 3.61% |
From month-end values since 20-05-2025. 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.
HSBC Multi Cap vs UTI Multi Cap: Portfolio Overlap
From each fund's latest monthly portfolio: HSBC Multi Cap Fund, September 2026; UTI Multi Cap Fund, September 2026
Holdings in common
- Overlap
- 17.3%
- Held by both
- 14
- Only in HSBC Multi Cap
- 86
- Only in UTI Multi Cap
- 57
| Security | % of HSBC Multi Cap | % of UTI Multi Cap |
|---|---|---|
| HDFC Bank Limited | 2.85% | 4.70% |
| ICICI Bank Limited | 2.13% | 5.00% |
| Reliance Industries Limited | 1.87% | 1.91% |
| Larsen & Toubro Limited | 1.51% | 1.78% |
| Shriram Finance Limited | 1.38% | 1.51% |
| Kotak Mahindra Bank Limited | 1.26% | 4.34% |
| Bharti Airtel Limited | 1.16% | 1.87% |
| Jubilant Foodworks Limited | 1.15% | 1.17% |
| UltraTech Cement Limited | 1.01% | 1.61% |
| INDO-MIM Limited | 0.92% | 1.07% |
| Bharat Heavy Electricals Limited | 0.90% | 1.57% |
| Maruti Suzuki India Limited | 0.59% | 0.92% |
| Bajaj Finance Limited | 0.38% | 1.05% |
| Mahindra & Mahindra Financial Serv Ltd. | 1.18% | 0.23% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 17.3% means 17.3% 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 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% |
Largest holdings only in UTI Multi Cap Fund
| Security | % of fund |
|---|---|
| EQ - AXIS BANK LTD. | 2.61% |
| EQ - SWIGGY LTD | 2.45% |
| EQ - VOLTAMP TRANSFORMERS LTD. | 2.24% |
| EQ - OIL INDIA LTD. | 2.12% |
| EQ - COFORGE LTD | 1.90% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HSBC Multi Cap | UTI Multi Cap |
|---|---|---|
| Equity | 97.5% | 92.7% |
| Debt | 0.0% | 0.5% |
| Cash and others | 2.5% | 6.8% |
Market cap of stocks
| Market cap | HSBC Multi Cap | UTI Multi Cap |
|---|---|---|
| Large Cap | 36.1% | 37.7% |
| Mid Cap | 25.9% | 25.2% |
| Small Cap | 31.1% | 27.8% |
| Not on AMFI's list | 4.5% | 2.0% |
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 | HSBC Multi Cap | UTI Multi Cap |
|---|---|---|
| Banks | 13.7% | 18.4% |
| Electrical Equipment | 11.0% | 3.8% |
| Pharmaceuticals & Biotechnology | 8.6% | 5.1% |
| Industrial Products | 7.4% | 1.6% |
| Finance | 4.1% | 5.5% |
| Retailing | 4.0% | 5.0% |
| Capital Markets | 4.5% | 1.1% |
| Automobiles | 4.5% | 1.7% |
| Consumer Durables | 2.1% | 3.9% |
The six largest sectors of each fund's stocks, % of the fund.
HSBC Multi Cap vs UTI Multi Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HSBC Multi Cap Fund | UTI Multi Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.80% | 1.10% |
| Base expense ratio (Direct) | 0.52% | 0.69% |
| Total expense ratio (Regular) | 2.04% | 2.26% |
| Base expense ratio (Regular) | 1.57% | 1.76% |
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 HSBC Multi Cap with
HSBC Multi Cap Fund vs UTI Multi Cap Fund: Frequently Asked Questions
What is the difference between HSBC Multi Cap Fund and UTI Multi Cap Fund?
Both are Multi Cap funds, run by HSBC Mutual Fund and UTI Mutual Fund. Their portfolios overlap 17.3%. HSBC Multi Cap Fund charges 0.80% a year and UTI Multi Cap Fund 1.10%.
Which has given higher returns, HSBC Multi Cap Fund or UTI Multi Cap Fund?
Over 1 year: HSBC Multi Cap Fund −0.09%, UTI Multi Cap Fund −4.61%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HSBC Multi Cap Fund or UTI Multi Cap Fund?
HSBC Multi Cap Fund charges less: 0.80% a year against 1.10%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HSBC Multi Cap Fund and UTI Multi Cap Fund overlap?
17.3%. They hold 14 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, RELIANCE. From each fund's latest monthly portfolio.
Which is riskier, HSBC Multi Cap Fund or UTI Multi Cap Fund?
On SEBI's riskometer, HSBC Multi Cap Fund is rated Very High and UTI Multi Cap Fund Very High. Over 1 years, the standard deviation of daily returns was 15.62% and 13.06% a year.
Can I invest in both HSBC Multi Cap Fund and UTI Multi Cap Fund?
Yes. 17.3% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages HSBC Multi Cap Fund and UTI Multi Cap Fund?
HSBC Multi Cap Fund: Venugopal Manghat, Mahesh Chhabria, Mayank Chaturvedi, Dipan S. Parikh. UTI Multi Cap Fund: Karthikraj Lakshmanan.
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.