ITI Balanced Advantage Fund vs Union Retirement Fund
Direct Plan, Growth option · Data as on 30-10-2026
ITI Balanced Advantage Fund is a Balanced Advantage fund and Union Retirement Fund is a Solution fund. In the 3 years to 30-10-2026, ITI Balanced Advantage Fund (Direct) returned 7.7% a year and Union Retirement Fund (Direct) returned 12.1% a year. ITI Balanced Advantage Fund charges 1.59% a year and Union Retirement Fund 1.36% (Direct plans). Their portfolios overlap 28.6%: they hold 22 of the same securities.
ITI Balanced Advantage Fund
Balanced Advantage
- 3 year return
- 7.7%
- Expense ratio
- 1.59%
- NAV
- ₹15.44
Which is better, ITI Balanced Advantage or Union Retirement? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Union Retirement returned more over 3 years: 12.1% a year against 7.7%.
- Union Retirement returned more over 1 year: −2.2% against −6.9%.
- Union Retirement costs less: 1.36% a year against 1.59% (Direct plans).
- ITI Balanced Advantage swung less over 3 years: a standard deviation of 9.3% a year against 14.3%.
- ITI Balanced Advantage fell less in its worst fall since 29-09-2022: −9.7% against −17.8%.
- Union Retirement holds more in large companies: 46.8% of the fund in large caps against 32.4%.
- ITI Balanced Advantage is the larger fund: ₹320 Cr against ₹207 Cr.
- Their portfolios overlap 28.6%: 22 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 | ITI Balanced Advantage Fund | Union Retirement Fund |
|---|---|---|
| Fund house | ITI Mutual Fund | Union Mutual Fund |
| Category | Balanced Advantage | Solution |
| AUM | ₹320 Cr (30-09-2026) | ₹207 Cr (30-09-2026) |
| NAV | ₹15.44 (Direct) | ₹16.43 (Direct) |
| Expense ratio (Direct) | 1.59% | 1.36% |
| Expense ratio (Regular) | 3.24% | 2.67% |
| Riskometer | Very High | Very High |
| Benchmark | NIFTY 50 Hybrid Composite Debt 50:50 Index | BSE 500 TRI |
| Launch date | 31-12-2019 | 22-09-2022 |
| Minimum investment | ₹5,000 | ₹1,000 |
| Lock in | None | 5 years, or until retirement if earlier |
| Fund managers | Nilay Dalal, Animesh Singh | Pratik Dharmshi, Pratit Vajani |
| Exit load | Exit Load for units in excess of 10% of the investment,0.50% will be charged for redemption within 3 months. | Nil |
ITI Balanced Advantage vs Union Retirement: 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 |
|---|---|---|---|---|---|---|---|
| ITI Balanced Advantage Fund (Direct) | −3.94% | −4.46% | −2.16% | −6.88% | +7.67% | +6.17% | -- |
| Union Retirement Fund (Direct) | −2.20% | −5.14% | −1.02% | −2.20% | +12.05% | -- | -- |
| Balanced Advantage average | −0.55% | −2.88% | +0.08% | −2.08% | +9.14% | +8.35% | -- |
Category average: the average of the 38 Balanced Advantage funds, same plan type.
ITI Balanced Advantage vs Union Retirement: Year-wise Returns
| Year | ITI Balanced AdvantageITI Balanced Advantage | Union RetirementUnion Retirement |
|---|---|---|
| 2026to date | −7.34% | −2.67% |
| 2025 | +6.26% | +7.45% |
| 2024 | +15.52% | +18.75% |
| 2023 | +19.44% | +32.30% |
| 2022 | −1.18% | -- |
| 2021 | +24.86% | -- |
ITI Balanced Advantage vs Union Retirement: Rolling Returns
Every holding period of both funds, against BSE 500 TRI, the benchmark of Union Retirement Fund
Rolling returns
Every 3-year holding period, 266 of them, one for each trading day from 29-09-2025 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.
ITI Balanced Advantage Fund (Direct)
Union Retirement Fund (Direct)
BSE 500 TRI
to
Oct 2025Jan 2023
to
Jan 2026Mar 2023
to
Mar 2026May 2023
to
May 2026Jul 2023
to
Jul 2026Sept 2023
to
Sept 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ITI Balanced Advantage | 0.0 | 0.0 | 17.3 | 82.7 | 0.0 | 0.0 | 0.0 | 11.6% | 11.5% | 6.9% | 14.6% | 0% |
| Union Retirement | 0.0 | 0.0 | 0.0 | 18.8 | 79.7 | 1.5 | 0.0 | 16.9% | 17.6% | 10.8% | 20.2% | 100% |
| BSE 500 TRI | 0.0 | 0.0 | 9.0 | 44.4 | 46.6 | 0.0 | 0.0 | 14.1% | 14.8% | 8.4% | 17.8% | -- |
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 BSE 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 29-09-2022. Past returns do not promise future returns.
ITI Balanced Advantage vs Union Retirement: 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 01-09-2022 to 30-10-2026: 50 instalments, ₹5,00,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| ITI Balanced AdvantageITI Balanced Advantage Fund (Direct) | ₹5,00,000 | ₹5,48,489 | ₹48,489 | 4.4% |
| Union RetirementUnion Retirement Fund (Direct) | ₹5,00,000 | ₹6,05,015 | ₹1,05,015 | 9.1% |
ITI Balanced AdvantageITI Balanced Advantage Fund (Direct)
Union RetirementUnion Retirement 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.
ITI Balanced Advantage vs Union Retirement: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | ITI Balanced Advantage Fund (Direct) | Union Retirement Fund (Direct) |
|---|---|---|
| Return (CAGR) | −6.88% | −2.20% |
| Standard deviation | 9.25% | 15.10% |
| Sharpe ratio | -1.31 | -0.49 |
| Sortino ratio | -1.65 | -0.66 |
| Maximum drawdown | −9.7% (23-10-2026) | −12.2% (23-03-2026) |
| Beta | -- | 1.02 |
| Alpha | -- | +5.74% |
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 | ITI Balanced Advantage Fund (Direct) | Union Retirement Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.67% | +12.05% |
| Standard deviation | 9.32% | 14.27% |
| Sharpe ratio | 0.18 | 0.42 |
| Sortino ratio | 0.23 | 0.57 |
| Maximum drawdown | −9.7% (23-10-2026) | −17.8% (28-02-2025) |
| Beta | -- | 0.98 |
| Alpha | -- | +2.23% |
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 | ITI Balanced Advantage Fund (Direct) | Union Retirement Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.48% | +14.09% |
| Standard deviation | 12.67% | 13.10% |
| Sharpe ratio | 0.11 | 0.60 |
| Sortino ratio | 0.13 | 0.82 |
| Maximum drawdown | −33.6% (23-03-2020) | −17.8% (28-02-2025) |
| Beta | -- | 0.96 |
| Alpha | -- | +3.12% |
From daily NAVs, 03-01-2020 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.
ITI Balanced Advantage Fund (Direct)
Union Retirement Fund (Direct)
BSE 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| ITI Balanced Advantage Fund (Direct) | −9.7% | 02-01-2026 | 23-10-2026 | Not yet | -- | −8.1% |
| Union Retirement Fund (Direct) | −17.8% | 26-09-2024 | 28-02-2025 | 20-10-2025 | 8 months | −7.9% |
| BSE 500 TRI | −18.7% | 26-09-2024 | 28-02-2025 | Not yet | -- | −9.4% |
From daily values since 29-09-2022, 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.
ITI Balanced Advantage Fund (Direct)
Union Retirement Fund (Direct)
BSE 500 TRI
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.
ITI Balanced Advantage Fund (Direct)
Union Retirement Fund (Direct)
BSE 500 TRI
Against BSE 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| ITI Balanced Advantage Fund (Direct) | 63% | 50% | 7.99% |
| Union Retirement Fund (Direct) | 97% | 77% | 3.70% |
From month-end values since 29-09-2022. 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.
ITI Balanced Advantage vs Union Retirement: Portfolio Overlap
From each fund's latest monthly portfolio: ITI Balanced Advantage Fund, September 2026; Union Retirement Fund, September 2026
Holdings in common
- Overlap
- 28.6%
- Held by both
- 22
- Only in ITI Balanced Advantage
- 44
- Only in Union Retirement
- 58
| Security | % of ITI Balanced Advantage | % of Union Retirement |
|---|---|---|
| HDFC Bank Limited | 4.33% | 4.29% |
| ICICI Bank Limited | 3.15% | 5.76% |
| Eternal Limited | 2.18% | 2.17% |
| Reliance Industries Limited | 4.26% | 2.10% |
| Ujjivan Small Finance Bank Limited | 2.12% | 1.41% |
| Axis Bank Limited | 1.30% | 2.08% |
| Solar Industries India Limited | 1.22% | 2.53% |
| Titan Company Limited | 1.18% | 1.55% |
| Kirloskar Oil Engines Limited | 1.13% | 1.53% |
| Multi Commodity Exchange of India Limited | 1.07% | 2.72% |
| State Bank of India | 1.02% | 1.77% |
| Hindustan Copper Limited | 1.00% | 1.08% |
| Bharat Heavy Electricals Limited | 1.10% | 0.96% |
| Infosys Limited | 0.93% | 1.52% |
| LG Electronics India Ltd | 1.15% | 0.92% |
| Aarti Industries Limited | 1.11% | 0.81% |
| TVS Motor Company Limited | 1.12% | 0.80% |
| Apollo Hospitals Enterprise Limited | 1.04% | 0.79% |
| Grasim Industries Limited | 1.12% | 0.74% |
| Cholamandalam Investment and Finance Company Ltd | 0.56% | 1.06% |
| Hindalco Industries Limited | 1.16% | 0.52% |
| Ather Energy Limited | 0.52% | 0.55% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 28.6% means 28.6% 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 ITI Balanced Advantage Fund
| Security | % of fund |
|---|---|
| 8.13% Power Grid Corporation of India Limited (25/04/2028) | 3.15% |
| 7.48% National Bank For Agriculture and Rural Development (15/09/2028) | 2.80% |
| Wockhardt Limited | 2.52% |
| 7.53% National Bank For Agriculture and Rural Development (24/03/2028) | 2.49% |
| Laurus Labs Limited | 2.37% |
Largest holdings only in Union Retirement Fund
| Security | % of fund |
|---|---|
| Navin Fluorine International Ltd. | 2.00% |
| S.J.S. Enterprises Ltd. | 1.97% |
| Azad Engineering Ltd. | 1.87% |
| Tata Consumer Products Ltd. | 1.84% |
| GE Vernova T&D India Ltd. | 1.83% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | ITI Balanced Advantage | Union Retirement |
|---|---|---|
| Equity | 74.4% | 97.8% |
| Debt | 20.0% | 0.1% |
| Cash and others | 5.6% | 2.1% |
Market cap of stocks
| Market cap | ITI Balanced Advantage | Union Retirement |
|---|---|---|
| Large Cap | 32.4% | 46.8% |
| Mid Cap | 14.4% | 20.5% |
| Small Cap | 22.9% | 30.6% |
| Not on AMFI's list | 4.7% | 0.0% |
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 | ITI Balanced Advantage | Union Retirement |
|---|---|---|
| Banks | 17.2% | 17.0% |
| Pharmaceuticals & Biotechnology | 8.4% | 4.1% |
| Capital Markets | 1.1% | 6.8% |
| Electrical Equipment | 2.3% | 6.3% |
| Chemicals & Petrochemicals | 3.6% | 5.8% |
| Auto Components | 1.1% | 5.7% |
| Consumer Durables | 2.3% | 5.6% |
| Finance | 4.7% | 2.9% |
| Petroleum Products | 4.3% | 2.1% |
| Automobiles | 3.2% | 3.6% |
The six largest sectors of each fund's stocks, % of the fund.
ITI Balanced Advantage vs Union Retirement: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | ITI Balanced Advantage Fund | Union Retirement Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.59% | 1.36% |
| Base expense ratio (Direct) | 0.64% | 0.98% |
| Total expense ratio (Regular) | 3.24% | 2.67% |
| Base expense ratio (Regular) | 2.10% | 2.10% |
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
Compare ITI Balanced Advantage with
ITI Balanced Advantage Fund vs Union Retirement Fund: Frequently Asked Questions
What is the difference between ITI Balanced Advantage Fund and Union Retirement Fund?
ITI Balanced Advantage Fund is a Balanced Advantage fund, Union Retirement Fund is a Solution fund, run by ITI Mutual Fund and Union Mutual Fund. Their portfolios overlap 28.6%. ITI Balanced Advantage Fund charges 1.59% a year and Union Retirement Fund 1.36%.
Which has given higher returns, ITI Balanced Advantage Fund or Union Retirement Fund?
Over 1 year: ITI Balanced Advantage Fund −6.88%, Union Retirement Fund −2.20%. Over 3 years: ITI Balanced Advantage Fund +7.67% a year, Union Retirement Fund +12.05% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, ITI Balanced Advantage Fund or Union Retirement Fund?
Union Retirement Fund charges less: 1.36% a year against 1.59%. These are the Direct plans' total expense ratios reported to AMFI.
How much do ITI Balanced Advantage Fund and Union Retirement Fund overlap?
28.6%. They hold 22 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, ETERNAL. From each fund's latest monthly portfolio.
Which is riskier, ITI Balanced Advantage Fund or Union Retirement Fund?
On SEBI's riskometer, ITI Balanced Advantage Fund is rated Very High and Union Retirement Fund Very High. Over 3 years, the standard deviation of daily returns was 9.32% and 14.27% a year.
Which is better for SIP, ITI Balanced Advantage Fund or Union Retirement Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹3,73,745 in ITI Balanced Advantage Fund (XIRR 0.6% a year) and ₹3,97,020 in Union Retirement Fund (XIRR 4.5% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both ITI Balanced Advantage Fund and Union Retirement Fund?
Yes. 28.6% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages ITI Balanced Advantage Fund and Union Retirement Fund?
ITI Balanced Advantage Fund: Nilay Dalal, Animesh Singh. Union Retirement Fund: Pratik Dharmshi, Pratit Vajani.
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.