ICICI Prudential Balanced Advantage Fund vs Nippon India Multi Asset Allocation Fund
Direct Plan, Growth option · Data as on 30-10-2026
ICICI Prudential Balanced Advantage Fund is a Balanced Advantage fund and Nippon India Multi Asset Allocation Fund is a Multi Asset fund. In the 3 years to 30-10-2026, ICICI Prudential Balanced Advantage Fund (Direct) returned 10.6% a year and Nippon India Multi Asset Allocation Fund (Direct) returned 18.0% a year. ICICI Prudential Balanced Advantage Fund charges 1.03% a year and Nippon India Multi Asset Allocation Fund 0.48% (Direct plans). Their portfolios overlap 34.9%: they hold 62 of the same securities.
ICICI Prudential Balanced Advantage Fund
Balanced Advantage
- 3 year return
- 10.6%
- Expense ratio
- 1.03%
- NAV
- ₹85.81
Nippon India Multi Asset Allocation Fund
Multi Asset
- 3 year return
- 18.0%
- Expense ratio
- 0.48%
- NAV
- ₹25.81
Which is better, ICICI Prudential Balanced Advantage or Nippon 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.
- Nippon India Multi Asset Allocation returned more over 5 years: 13.8% a year against 9.9%.
- Nippon India Multi Asset Allocation returned more over 3 years: 18.0% a year against 10.6%.
- Nippon India Multi Asset Allocation costs less: 0.48% a year against 1.03% (Direct plans).
- ICICI Prudential Balanced Advantage swung less over 3 years: a standard deviation of 7.1% a year against 10.0%.
- ICICI Prudential Balanced Advantage fell less in its worst fall since 31-08-2020: −8.2% against −10.8%.
- Nippon India Multi Asset Allocation holds 4.5% of the fund in foreign stocks; ICICI Prudential Balanced Advantage 0.0%.
- ICICI Prudential Balanced Advantage holds more in large companies: 60.8% of the fund in large caps against 40.1%.
- ICICI Prudential Balanced Advantage is the larger fund: ₹71,913 Cr against ₹18,044 Cr.
- Their portfolios overlap 34.9%: 62 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 | ICICI Prudential Balanced Advantage Fund | Nippon India Multi Asset Allocation Fund |
|---|---|---|
| Fund house | ICICI Prudential Mutual Fund | Nippon India Mutual Fund |
| Category | Balanced Advantage | Multi Asset |
| AUM | ₹71,913 Cr (30-09-2026) | ₹18,044 Cr (30-09-2026) |
| NAV | ₹85.81 (Direct) | ₹25.81 (Direct) |
| Expense ratio (Direct) | 1.03% | 0.48% |
| Expense ratio (Regular) | 1.56% | 1.44% |
| Riskometer | Not available | Not available |
| Benchmark | CRISIL Hybrid 50+50 - Moderate Index | Not available |
| Launch date | 30-12-2006 | Not available |
| Minimum investment | ₹500 | Not available |
| Lock in | None | Not available |
| Fund managers | Rajat Chandak, Manish Banthia, Akhil Kakkar, Sri Sharma, Sharmila D'silva | Not available |
| Exit load | • NIL - If units purchased or switched in from another scheme of the Fund are redeemed or switched out upto 30% of the units (the limit) purchased or switched within 1 year from the date of allotment. • 1% of the applicable NAV - If units purchased or switched in from another scheme of the Fund are redeemed or switched out in excess of the limit within 1 year from the date of allotment. • NIL - If units purchased or switched in from another scheme of the Fund are redeemed or switched out after 1 year from the date of allotment. | Not available |
ICICI Prudential Balanced Advantage vs Nippon 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 |
|---|---|---|---|---|---|---|---|
| ICICI Prudential Balanced Advantage Fund (Direct) | +0.15% | −3.08% | +1.18% | +0.30% | +10.55% | +9.90% | +10.97% |
| Nippon India Multi Asset Allocation Fund (Direct) | −2.06% | −3.53% | −1.74% | +3.05% | +17.96% | +13.83% | -- |
| Balanced Advantage average | −0.55% | −2.88% | +0.08% | −2.08% | +9.14% | +8.35% | +9.91% |
| Multi Asset average | −1.71% | −3.33% | −1.78% | +2.00% | +14.20% | +12.56% | -- |
Category average: the average of the 38 Balanced Advantage funds and the 37 Multi Asset funds, same plan type.
ICICI Prudential Balanced Advantage vs Nippon India Multi Asset Allocation: Year-wise Returns
| Year | ICICI Prudential Balanced AdvantageICICI Prudential Balanced Advantage | Nippon India Multi Asset AllocationNippon India Multi Asset Allocation |
|---|---|---|
| 2026to date | −1.16% | +0.43% |
| 2025 | +12.87% | +20.96% |
| 2024 | +12.98% | +20.14% |
| 2023 | +17.24% | +25.92% |
| 2022 | +8.62% | +4.63% |
| 2021 | +15.86% | +21.10% |
ICICI Prudential Balanced Advantage vs Nippon India Multi Asset Allocation: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 777 of them, one for each trading day from 31-08-2023 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.
ICICI Prudential Balanced Advantage Fund (Direct)
Nippon India Multi Asset Allocation Fund (Direct)
to
Dec 2023Jun 2021
to
Jun 2024Dec 2021
to
Dec 2024Jul 2022
to
Jul 2025Jan 2023
to
Jan 2026Jul 2023
to
Jul 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ICICI Prudential Balanced Advantage | 0.0 | 0.0 | 0.5 | 90.7 | 8.8 | 0.0 | 0.0 | 13.6% | 13.7% | 9.9% | 16.4% |
| Nippon India Multi Asset Allocation | 0.0 | 0.0 | 0.0 | 0.9 | 63.9 | 35.2 | 0.0 | 19.0% | 18.6% | 14.0% | 24.5% |
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. Every fund is measured over the days all of them have, from 31-08-2020. Past returns do not promise future returns.
ICICI Prudential Balanced Advantage vs Nippon India 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
₹10,000 on the first trading day of every month, from 03-08-2020 to 30-10-2026: 75 instalments, ₹7,50,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| ICICI Prudential Balanced AdvantageICICI Prudential Balanced Advantage Fund (Direct) | ₹7,50,000 | ₹10,32,097 | ₹2,82,097 | 10.1% |
| Nippon India Multi Asset AllocationNippon India Multi Asset Allocation Fund (Direct) | ₹7,50,000 | ₹12,08,978 | ₹4,58,978 | 15.2% |
ICICI Prudential Balanced AdvantageICICI Prudential Balanced Advantage Fund (Direct)
Nippon India Multi Asset AllocationNippon India 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.
ICICI Prudential Balanced Advantage vs Nippon India Multi Asset Allocation: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | ICICI Prudential Balanced Advantage Fund (Direct) | Nippon India Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +0.30% | +3.05% |
| Standard deviation | 9.21% | 11.30% |
| Sharpe ratio | -0.54 | -0.19 |
| Sortino ratio | -0.74 | -0.26 |
| Maximum drawdown | −8.2% (30-03-2026) | −10.8% (23-03-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 | ICICI Prudential Balanced Advantage Fund (Direct) | Nippon India Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.55% | +17.96% |
| Standard deviation | 7.14% | 10.00% |
| Sharpe ratio | 0.63 | 1.19 |
| Sortino ratio | 0.90 | 1.63 |
| Maximum drawdown | −8.2% (30-03-2026) | −10.8% (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.
| Measure | ICICI Prudential Balanced Advantage Fund (Direct) | Nippon India Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.90% | +13.83% |
| Standard deviation | 6.46% | 9.50% |
| Sharpe ratio | 0.63 | 0.85 |
| Sortino ratio | 0.89 | 1.16 |
| Maximum drawdown | −8.2% (30-03-2026) | −10.8% (23-03-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 29-10-2021 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 | ICICI Prudential Balanced Advantage Fund (Direct) | Nippon India Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.24% | +16.79% |
| Standard deviation | 8.87% | 9.40% |
| Sharpe ratio | 0.70 | 1.22 |
| Sortino ratio | 0.95 | 1.70 |
| Maximum drawdown | −27.0% (23-03-2020) | −10.8% (23-03-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 02-01-2013 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.
ICICI Prudential Balanced Advantage Fund (Direct)
Nippon India Multi Asset Allocation Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| ICICI Prudential Balanced Advantage Fund (Direct) | −8.2% | 11-02-2026 | 30-03-2026 | 03-07-2026 | 3 months | −4.9% |
| Nippon India Multi Asset Allocation Fund (Direct) | −10.8% | 29-01-2026 | 23-03-2026 | 06-08-2026 | 4 months | −7.0% |
From daily values since 31-08-2020, 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.
ICICI Prudential Balanced Advantage Fund (Direct)
Nippon India Multi Asset Allocation Fund (Direct)
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.
ICICI Prudential Balanced Advantage Fund (Direct)
Nippon India Multi Asset Allocation Fund (Direct)
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 5-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
ICICI Prudential Balanced Advantage Fund (Direct)
Nippon India Multi Asset Allocation Fund (Direct)
ICICI Prudential Balanced Advantage vs Nippon India Multi Asset Allocation: Portfolio Overlap
From each fund's latest monthly portfolio: ICICI Prudential Balanced Advantage Fund, September 2026; Nippon India Multi Asset Allocation Fund, September 2026
Holdings in common
- Overlap
- 34.9%
- Held by both
- 62
- Only in ICICI Prudential Balanced Advantage
- 146
- Only in Nippon India Multi Asset Allocation
- 101
| Security | % of ICICI Prudential Balanced Advantage | % of Nippon India Multi Asset Allocation |
|---|---|---|
| ICICI Bank Ltd. | 4.15% | 3.44% |
| HDFC Bank Ltd. | 3.41% | 3.25% |
| Axis Bank Ltd. | 2.04% | 2.42% |
| State Bank Of India | 1.97% | 1.69% |
| Eternal Ltd. | 2.18% | 1.65% |
| Reliance Industries Ltd. | 2.54% | 1.49% |
| Infosys Ltd. | 2.27% | 1.35% |
| Trent Ltd. | 1.28% | 1.24% |
| Kotak Mahindra Bank Ltd. | 1.57% | 1.16% |
| Mahindra & Mahindra Ltd. | 1.08% | 1.44% |
| Avenue Supermarts Ltd. | 1.58% | 1.01% |
| NTPC Ltd. | 0.92% | 1.14% |
| Titan Company Ltd. | 1.02% | 0.81% |
| Life Insurance Corporation of India | 0.81% | 0.98% |
| HDFC Asset Management Company Ltd. | 0.78% | 1.23% |
| Sun Pharmaceutical Industries Ltd. | 0.77% | 0.75% |
| Bharti Airtel Ltd. | 1.91% | 0.61% |
| Hindustan Aeronautics Ltd. | 0.58% | 1.35% |
| Muthoot Finance Ltd. | 0.70% | 0.55% |
| Bajaj Finserv Ltd. | 0.55% | 0.60% |
| Shriram Finance Ltd. | 0.73% | 0.53% |
| Interglobe Aviation Ltd. | 1.48% | 0.43% |
| Cholamandalam Investment And Finance Company Ltd. | 0.97% | 0.42% |
| Bajaj Finance Ltd. | 0.99% | 0.40% |
| Tech Mahindra Ltd. | 0.54% | 0.37% |
| Samvardhana Motherson International Ltd. | 0.81% | 0.35% |
| Info Edge (India) Ltd. | 0.35% | 1.42% |
| Gabriel India Ltd | 0.35% | 0.33% |
| Vedanta Aluminium Metal Ltd. | 0.32% | 0.53% |
| Apollo Hospitals Enterprise Ltd. | 0.79% | 0.31% |
| HDFC Life Insurance Company Ltd. | 0.30% | 1.27% |
| Tata Capital Ltd. | 0.48% | 0.28% |
| Vedanta Ltd. | 0.28% | 0.58% |
| Government Securities | 0.77% | 0.26% |
| FSN E-Commerce Ventures Ltd. | 0.26% | 0.32% |
| COFORGE Ltd. | 0.25% | 0.34% |
| PB Fintech Ltd. | 0.57% | 0.24% |
| Hindustan Unilever Ltd. | 0.24% | 1.33% |
| Britannia Industries Ltd. | 1.08% | 0.23% |
| NABARD | 0.22% | 0.27% |
| NABARD | 0.21% | 0.28% |
| Vedanta Ltd. | 0.20% | 0.26% |
| Ultratech Cement Ltd. | 0.68% | 0.20% |
| Hindustan Petroleum Corporation Ltd. | 0.29% | 0.20% |
| Altius Telecom Infrastructure Trust | 0.20% | 0.75% |
| Bharti Telecom Ltd. | 0.17% | 0.28% |
| Small Industries Development Bank Of India. | 0.16% | 0.41% |
| SBI Funds Management Ltd. | 0.16% | 0.18% |
| Jindal Steel Ltd. | 0.15% | 0.47% |
| Ge Vernova T&D India Ltd. | 0.14% | 0.41% |
| ITC Ltd. | 0.14% | 0.49% |
| NABARD | 0.14% | 0.44% |
| Mankind Pharma Ltd. | 0.11% | 0.35% |
| Jubilant Foodworks Ltd. | 0.11% | 0.76% |
| Adani Power Ltd. | 0.10% | 0.30% |
| Indus Infra Trust | 0.07% | 0.42% |
| NABARD | 0.07% | 0.28% |
| Max Financial Services Ltd. | 0.07% | 0.68% |
| Torrent Power Ltd. | 0.06% | 0.14% |
| Adani Power Ltd. | 0.03% | 0.25% |
| NABARD | 0.28% | 0.03% |
| Raajmarg Infra Investment Trust | 0.01% | 0.23% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 34.9% means 34.9% 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 ICICI Prudential Balanced Advantage Fund
| Security | % of fund |
|---|---|
| TVS Motor Company Ltd. | 6.31% |
| EMBASSY OFFICE PARKS REIT | 2.80% |
| Government Securities | 2.71% |
| Larsen & Toubro Ltd. | 1.86% |
| Maruti Suzuki India Ltd. | 1.79% |
Largest holdings only in Nippon India Multi Asset Allocation Fund
| Security | % of fund |
|---|---|
| Nippon India ETF Gold Bees | 7.94% |
| Nippon India Silver ETF | 2.70% |
| 364 Days Tbill | 1.10% |
| Varun Beverages Limited | 1.05% |
| Bajaj Auto Limited | 0.97% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | ICICI Prudential Balanced Advantage | Nippon India Multi Asset Allocation |
|---|---|---|
| Equity | 71.0% | 62.0% |
| Debt | 21.2% | 18.6% |
| Cash and others | 7.8% | 19.3% |
Market cap of stocks
| Market cap | ICICI Prudential Balanced Advantage | Nippon India Multi Asset Allocation |
|---|---|---|
| Large Cap | 60.8% | 40.1% |
| Mid Cap | 6.8% | 10.3% |
| Small Cap | 3.1% | 7.0% |
| Foreign stocks | 0.0% | 4.5% |
| Not on AMFI's list | 0.2% | 0.2% |
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 | ICICI Prudential Balanced Advantage | Nippon India Multi Asset Allocation |
|---|---|---|
| Banks | 13.4% | 12.3% |
| Automobiles | 9.5% | 3.0% |
| Retailing | 5.9% | 6.6% |
| It - Software | 4.6% | 0.0% |
| Other | 0.0% | 4.5% |
| Finance | 3.2% | 3.1% |
| Petroleum Products | 3.1% | 1.7% |
| Consumer Durables | 1.5% | 3.0% |
The six largest sectors of each fund's stocks, % of the fund.
ICICI Prudential Balanced Advantage vs Nippon India Multi Asset Allocation: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | ICICI Prudential Balanced Advantage Fund | Nippon India Multi Asset Allocation Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.03% | 0.48% |
| Base expense ratio (Direct) | 0.71% | 0.30% |
| Total expense ratio (Regular) | 1.56% | 1.44% |
| Base expense ratio (Regular) | 1.15% | 1.14% |
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.
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Compare Nippon India Multi Asset Allocation with
ICICI Prudential Balanced Advantage Fund vs Nippon India Multi Asset Allocation Fund: Frequently Asked Questions
What is the difference between ICICI Prudential Balanced Advantage Fund and Nippon India Multi Asset Allocation Fund?
ICICI Prudential Balanced Advantage Fund is a Balanced Advantage fund, Nippon India Multi Asset Allocation Fund is a Multi Asset fund, run by ICICI Prudential Mutual Fund and Nippon India Mutual Fund. Their portfolios overlap 34.9%. ICICI Prudential Balanced Advantage Fund charges 1.03% a year and Nippon India Multi Asset Allocation Fund 0.48%.
Which has given higher returns, ICICI Prudential Balanced Advantage Fund or Nippon India Multi Asset Allocation Fund?
Over 1 year: ICICI Prudential Balanced Advantage Fund +0.30%, Nippon India Multi Asset Allocation Fund +3.05%. Over 3 years: ICICI Prudential Balanced Advantage Fund +10.55% a year, Nippon India Multi Asset Allocation Fund +17.96% a year. Over 5 years: ICICI Prudential Balanced Advantage Fund +9.90% a year, Nippon India Multi Asset Allocation Fund +13.83% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, ICICI Prudential Balanced Advantage Fund or Nippon India Multi Asset Allocation Fund?
Nippon India Multi Asset Allocation Fund charges less: 0.48% a year against 1.03%. These are the Direct plans' total expense ratios reported to AMFI.
How much do ICICI Prudential Balanced Advantage Fund and Nippon India Multi Asset Allocation Fund overlap?
34.9%. They hold 62 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, AXISBANK. From each fund's latest monthly portfolio.
Which is better for SIP, ICICI Prudential Balanced Advantage Fund or Nippon India 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 ₹7,71,458 in ICICI Prudential Balanced Advantage Fund (XIRR 9.2% a year) and ₹8,84,142 in Nippon India Multi Asset Allocation Fund (XIRR 14.6% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both ICICI Prudential Balanced Advantage Fund and Nippon India Multi Asset Allocation Fund?
Yes. 34.9% 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.