ICICI Prudential Multi Asset Allocation Fund vs SBI Multi Asset Allocation Fund
Direct Plan, Growth option · Data as on 29-10-2026
ICICI Prudential Multi Asset Allocation Fund and SBI Multi Asset Allocation Fund are both Multi Asset funds. In the 3 years to 29-10-2026, ICICI Prudential Multi Asset Allocation Fund (Direct) returned 12.9% a year and SBI Multi Asset Allocation Fund (Direct) returned 13.9% a year. ICICI Prudential Multi Asset Allocation Fund charges 0.85% a year and SBI Multi Asset Allocation Fund 0.66% (Direct plans). Their portfolios overlap 14.0%: they hold 36 of the same securities.
ICICI Prudential Multi Asset Allocation Fund
Multi Asset
- 3 year return
- 12.9%
- Expense ratio
- 0.85%
- NAV
- ₹853.87
SBI Multi Asset Allocation Fund
Multi Asset
- 3 year return
- 13.9%
- Expense ratio
- 0.66%
- NAV
- ₹71.85
Which is better, ICICI Prudential Multi Asset Allocation or SBI 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 12.5%.
- SBI Multi Asset Allocation returned more over 3 years: 13.9% a year against 12.9%.
- SBI Multi Asset Allocation costs less: 0.66% a year against 0.85% (Direct plans).
- SBI Multi Asset Allocation swung less over 3 years: a standard deviation of 7.9% a year against 8.3%.
- SBI Multi Asset Allocation fell less in its worst fall since 19-03-2013: −17.6% against −30.6%.
- ICICI Prudential Multi Asset Allocation holds more in large companies: 49.2% of the fund in large caps against 19.4%.
- ICICI Prudential Multi Asset Allocation is the larger fund: ₹84,108 Cr against ₹21,044 Cr.
- Their portfolios overlap 14.0%: 36 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 Multi Asset Allocation Fund | SBI Multi Asset Allocation Fund |
|---|---|---|
| Fund house | ICICI Prudential Mutual Fund | SBI Mutual Fund |
| Category | Multi Asset | Multi Asset |
| AUM | ₹84,108 Cr (30-09-2026) | ₹21,044 Cr (30-09-2026) |
| NAV | ₹853.87 (Direct) | ₹71.85 (Direct) |
| Expense ratio (Direct) | 0.85% | 0.66% |
| Expense ratio (Regular) | 1.43% | 1.39% |
| Riskometer | Not available | Very High |
| Benchmark | Nifty 200 TRI (65%) + Nifty Composite Debt Index (25%) + Domestic Price of Gold (6%) + Domestic Price of Silver (1%) + i | 45% BSE 500 TRI + 40% Crisil Composite Bond Fund Index + 10% Domestic Prices of Gold + 5% Domestic Prices of Silver. |
| Launch date | 31-10-2002 | 21-12-2005 |
| Minimum investment | ₹500 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Sankaran Naren, Manish Banthia, Gaurav Chikane, Sharmila D'silva, Antariksha Banerjee, Akhil Kakkar, Masoomi Jurmarvala | Mansi Sajeja, Dinesh Balachandran, Vandna Soni |
| Exit load | Exit Load for units in excess of 30% of the investment,1% will be charged for redemption within 365 days. | For units in excess of 10% of the investment, 1% will be charged for redemption within 12 months |
ICICI Prudential Multi Asset Allocation vs SBI Multi Asset Allocation: Returns Comparison
Returns as on 29-10-2026. 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 Multi Asset Allocation Fund (Direct) | −1.72% | −5.05% | −3.78% | −3.66% | +12.92% | +13.95% | +14.80% |
| SBI Multi Asset Allocation Fund (Direct) | −2.02% | −3.49% | −2.44% | +2.50% | +13.91% | +12.53% | +11.56% |
| 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.
ICICI Prudential Multi Asset Allocation vs SBI Multi Asset Allocation: Year-wise Returns
| Year | ICICI PrudentialICICI Prudential Multi Asset Allocation | SBISBI Multi Asset Allocation |
|---|---|---|
| 2026to date | −5.73% | −1.49% |
| 2025 | +19.46% | +19.58% |
| 2024 | +17.08% | +13.87% |
| 2023 | +24.98% | +25.48% |
| 2022 | +17.61% | +6.96% |
| 2021 | +35.54% | +13.96% |
ICICI Prudential Multi Asset Allocation vs SBI Multi Asset Allocation: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 2,614 of them, one for each trading day from 21-03-2016 to 29-10-2026: 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 Multi Asset Allocation Fund (Direct)
SBI Multi Asset Allocation Fund (Direct)
to
Jan 2017Nov 2015
to
Nov 2018Sept 2017
to
Sept 2020Jun 2019
to
Jun 2022Apr 2021
to
Apr 2024Dec 2022
to
Dec 2025
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 Multi Asset Allocation | 0.6 | 5.9 | 6.7 | 25.7 | 28.7 | 23.5 | 8.9 | 16.7% | 17.5% | −3.8% | 35.2% |
| SBI Multi Asset Allocation | 0.0 | 0.6 | 29.0 | 46.6 | 22.5 | 1.3 | 0.0 | 12.5% | 12.8% | 1.3% | 21.6% |
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 19-03-2013. Past returns do not promise future returns.
ICICI Prudential Multi Asset Allocation vs SBI 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 01-03-2013 to 29-10-2026: 164 instalments, ₹16,40,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| ICICI Prudential Multi Asset AllocationICICI Prudential Multi Asset Allocation Fund (Direct) | ₹16,40,000 | ₹50,37,394 | ₹33,97,394 | 15.2% |
| SBI Multi Asset AllocationSBI Multi Asset Allocation Fund (Direct) | ₹16,40,000 | ₹39,73,335 | ₹23,33,335 | 12.1% |
ICICI Prudential Multi Asset AllocationICICI Prudential Multi Asset Allocation Fund (Direct)
SBI Multi Asset AllocationSBI 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 Multi Asset Allocation vs SBI 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 Multi Asset Allocation Fund (Direct) | SBI Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | −3.66% | +2.50% |
| Standard deviation | 10.29% | 9.13% |
| Sharpe ratio | -0.86 | -0.30 |
| Sortino ratio | -1.16 | -0.40 |
| Maximum drawdown | −9.5% (23-03-2026) | −8.6% (23-03-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 29-10-2025 to 29-10-2026. 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 Multi Asset Allocation Fund (Direct) | SBI Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.92% | +13.91% |
| Standard deviation | 8.29% | 7.94% |
| Sharpe ratio | 0.83 | 0.99 |
| Sortino ratio | 1.16 | 1.37 |
| Maximum drawdown | −9.5% (23-03-2026) | −8.6% (23-03-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 27-10-2023 to 29-10-2026. 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 Multi Asset Allocation Fund (Direct) | SBI Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.95% | +12.53% |
| Standard deviation | 8.38% | 7.38% |
| Sharpe ratio | 0.97 | 0.91 |
| Sortino ratio | 1.36 | 1.26 |
| Maximum drawdown | −9.5% (23-03-2026) | −8.6% (23-03-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 29-10-2021 to 29-10-2026. 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 Multi Asset Allocation Fund (Direct) | SBI Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.43% | +11.91% |
| Standard deviation | 11.61% | 6.46% |
| Sharpe ratio | 0.81 | 0.91 |
| Sortino ratio | 1.11 | 1.25 |
| Maximum drawdown | −30.6% (23-03-2020) | −17.6% (23-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 02-01-2013 to 29-10-2026. 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 Multi Asset Allocation Fund (Direct)
SBI 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 Multi Asset Allocation Fund (Direct) | −30.6% | 17-01-2020 | 23-03-2020 | 01-12-2020 | 8 months | −7.1% |
| SBI Multi Asset Allocation Fund (Direct) | −17.6% | 20-02-2020 | 23-03-2020 | 23-06-2020 | 3 months | −5.2% |
From daily values since 19-03-2013, 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 1-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
ICICI Prudential Multi Asset Allocation Fund (Direct)
SBI 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 Multi Asset Allocation Fund (Direct)
SBI 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 Multi Asset Allocation Fund (Direct)
SBI Multi Asset Allocation Fund (Direct)
ICICI Prudential Multi Asset Allocation vs SBI Multi Asset Allocation: Portfolio Overlap
From each fund's latest monthly portfolio: ICICI Prudential Multi Asset Allocation Fund, September 2026; SBI Multi Asset Allocation Fund, September 2026
Holdings in common
- Overlap
- 14.0%
- Held by both
- 36
- Only in ICICI Prudential Multi Asset Allocation
- 190
- Only in SBI Multi Asset Allocation
- 92
| Security | % of ICICI Prudential Multi Asset Allocation | % of SBI Multi Asset Allocation |
|---|---|---|
| HDFC Bank Ltd. | 6.07% | 1.77% |
| ICICI Bank Ltd. | 3.57% | 1.46% |
| Kotak Mahindra Bank Ltd. | 1.30% | 1.33% |
| Axis Bank Ltd. | 2.34% | 1.05% |
| Reliance Industries Ltd. | 3.17% | 0.97% |
| Bajaj Finserv Ltd. | 2.55% | 0.92% |
| Oil & Natural Gas Corporation Ltd. | 0.65% | 1.23% |
| EMBASSY OFFICE PARKS REIT | 0.53% | 1.97% |
| ITC Ltd. | 1.62% | 0.47% |
| State Bank Of India | 0.98% | 0.43% |
| Muthoot Finance Ltd. | 0.43% | 0.48% |
| Vedanta Aluminium Metal Ltd. | 0.45% | 0.39% |
| Biocon Ltd. | 0.38% | 1.39% |
| HCL Technologies Ltd. | 0.28% | 0.46% |
| Brookfield India Real Estate Trust REIT | 0.26% | 2.42% |
| Kalpataru Projects International Ltd | 0.24% | 0.37% |
| FSN E-Commerce Ventures Ltd. | 0.24% | 0.97% |
| Sona Blw Precision Forgings Ltd. | 0.22% | 0.60% |
| ICICI Prudential Life Insurance Company Ltd. | 0.68% | 0.21% |
| Small Industries Development Bank Of India. | 0.20% | 0.94% |
| Life Insurance Corporation of India | 3.76% | 0.19% |
| Muthoot Finance Ltd. | 0.18% | 0.71% |
| Tata Steel Ltd. | 0.70% | 0.17% |
| Infosys Ltd. | 1.14% | 0.16% |
| Jubilant Foodworks Ltd. | 0.41% | 0.14% |
| Bharti Airtel Ltd. | 1.55% | 0.13% |
| Syngene International Ltd. | 0.12% | 1.22% |
| Government Securities | 2.11% | 0.12% |
| Dabur India Ltd. | 0.11% | 0.43% |
| Afcons Infrastructure Ltd. | 0.14% | 0.09% |
| Oil India Ltd. | 0.09% | 0.53% |
| NABARD | 0.06% | 1.40% |
| PVR INOX Ltd. | 0.04% | 0.04% |
| Adani Power Ltd. | 0.03% | 1.30% |
| Heidleberg Cement India Ltd. | 0.02% | 0.19% |
| Emami Ltd. | 0.01% | 0.18% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 14.0% means 14.0% 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 ICICI Prudential Multi Asset Allocation Fund
| Security | % of fund |
|---|---|
| ICICI Prudential Gold ETF | 10.07% |
| Interglobe Aviation Ltd. | 1.89% |
| Hindustan Unilever Ltd. | 1.51% |
| SBI Cards & Payment Services Ltd. | 1.44% |
| NTPC Ltd. | 1.41% |
Largest holdings only in SBI Multi Asset Allocation Fund
| Security | % of fund |
|---|---|
| SBI Gold ETF | 6.42% |
| SBI Silver ETF | 3.57% |
| Cholamandalam Investment & Finance Co. Ltd.Perpetual | 2.21% |
| GAIL (India) Ltd. | 1.89% |
| Bandhan Bank Ltd. | 1.74% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | ICICI Prudential Multi Asset Allocation | SBI Multi Asset Allocation |
|---|---|---|
| Equity | 67.3% | 44.9% |
| Debt | 15.0% | 32.2% |
| Cash and others | 17.7% | 22.9% |
Market cap of stocks
| Market cap | ICICI Prudential Multi Asset Allocation | SBI Multi Asset Allocation |
|---|---|---|
| Large Cap | 49.2% | 19.4% |
| Mid Cap | 12.1% | 9.0% |
| Small Cap | 5.4% | 15.4% |
| Foreign stocks | 0.2% | 0.0% |
| Not on AMFI's list | 0.4% | 1.1% |
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 Multi Asset Allocation | SBI Multi Asset Allocation |
|---|---|---|
| Banks | 15.5% | 9.4% |
| Insurance | 6.5% | 0.4% |
| Finance | 4.5% | 2.4% |
| Automobiles | 4.1% | 0.0% |
| Petroleum Products | 3.4% | 1.6% |
| Pharmaceuticals & Biotechnology | 2.8% | 3.3% |
| Retailing | 3.3% | 1.3% |
| Auto Components | 1.3% | 2.7% |
| Transport Services | 1.9% | 2.4% |
| Power | 1.4% | 2.0% |
The six largest sectors of each fund's stocks, % of the fund.
ICICI Prudential Multi Asset Allocation vs SBI Multi Asset Allocation: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | ICICI Prudential Multi Asset Allocation Fund | SBI Multi Asset Allocation Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.85% | 0.66% |
| Base expense ratio (Direct) | 0.57% | 0.48% |
| Total expense ratio (Regular) | 1.43% | 1.39% |
| Base expense ratio (Regular) | 1.07% | 1.10% |
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
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ICICI Prudential Multi Asset Allocation Fund vs SBI Multi Asset Allocation Fund: Frequently Asked Questions
What is the difference between ICICI Prudential Multi Asset Allocation Fund and SBI Multi Asset Allocation Fund?
Both are Multi Asset funds, run by ICICI Prudential Mutual Fund and SBI Mutual Fund. Their portfolios overlap 14.0%. ICICI Prudential Multi Asset Allocation Fund charges 0.85% a year and SBI Multi Asset Allocation Fund 0.66%.
Which has given higher returns, ICICI Prudential Multi Asset Allocation Fund or SBI Multi Asset Allocation Fund?
Over 1 year: ICICI Prudential Multi Asset Allocation Fund −3.66%, SBI Multi Asset Allocation Fund +2.50%. Over 3 years: ICICI Prudential Multi Asset Allocation Fund +12.92% a year, SBI Multi Asset Allocation Fund +13.91% a year. Over 5 years: ICICI Prudential Multi Asset Allocation Fund +13.95% a year, SBI Multi Asset Allocation Fund +12.53% a year. As on 29-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, ICICI Prudential Multi Asset Allocation Fund or SBI Multi Asset Allocation Fund?
SBI Multi Asset Allocation Fund charges less: 0.66% a year against 0.85%. These are the Direct plans' total expense ratios reported to AMFI.
How much do ICICI Prudential Multi Asset Allocation Fund and SBI Multi Asset Allocation Fund overlap?
14.0%. They hold 36 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, KOTAKBANK. From each fund's latest monthly portfolio.
Which is better for SIP, ICICI Prudential Multi Asset Allocation Fund or SBI Multi Asset Allocation Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 29-10-2026 grew to ₹8,21,595 in ICICI Prudential Multi Asset Allocation Fund (XIRR 11.7% a year) and ₹8,34,399 in SBI Multi Asset Allocation Fund (XIRR 12.3% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both ICICI Prudential Multi Asset Allocation Fund and SBI Multi Asset Allocation Fund?
Yes. 14.0% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages ICICI Prudential Multi Asset Allocation Fund and SBI Multi Asset Allocation Fund?
ICICI Prudential Multi Asset Allocation Fund: Sankaran Naren, Manish Banthia, Gaurav Chikane, Sharmila D'silva, Antariksha Banerjee, Akhil Kakkar, Masoomi Jurmarvala. SBI Multi Asset Allocation Fund: Mansi Sajeja, Dinesh Balachandran, Vandna Soni.
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.