ITI Multi Asset Allocation Fund vs Mahindra Manulife Large & Mid Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
ITI Multi Asset Allocation Fund is a Multi Asset fund and Mahindra Manulife Large & Mid Cap Fund is a Large & Mid Cap fund. ITI Multi Asset Allocation Fund charges 1.92% a year and Mahindra Manulife Large & Mid Cap Fund 0.84% (Direct plans). Their portfolios overlap 18.0%: they hold 14 of the same securities.
ITI Multi Asset Allocation Fund
Multi Asset
- Expense ratio
- 1.92%
- NAV
- ₹9.57
Mahindra Manulife Large & Mid Cap Fund
Large & Mid Cap
- Expense ratio
- 0.84%
- NAV
- ₹29.86
Which is better, ITI Multi Asset Allocation or Mahindra Manulife Large & Mid Cap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Mahindra Manulife Large & Mid Cap costs less: 0.84% a year against 1.92% (Direct plans).
- ITI Multi Asset Allocation fell less in its worst fall since 10-09-2026: −6.0% against −8.4%.
- Mahindra Manulife Large & Mid Cap holds more in large companies: 44.9% of the fund in large caps against 18.1%.
- Mahindra Manulife Large & Mid Cap is the larger fund: ₹2,753 Cr against ₹144 Cr.
- Their portfolios overlap 18.0%: 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 | ITI Multi Asset Allocation Fund | Mahindra Manulife Large & Mid Cap Fund |
|---|---|---|
| Fund house | ITI Mutual Fund | Mahindra Manulife Mutual Fund |
| Category | Multi Asset | Large & Mid Cap |
| AUM | ₹144 Cr (30-09-2026) | ₹2,753 Cr (30-09-2026) |
| NAV | ₹9.57 (Direct) | ₹29.86 (Direct) |
| Expense ratio (Direct) | 1.92% | 0.84% |
| Expense ratio (Regular) | 3.61% | 2.20% |
| Riskometer | High | Very High |
| Benchmark | 50% NIFTY 500 TRI + 30% CRISIL Composite Bond Index + 10% Domestic Price of Physical Gold + 10% Domestic Price of Silver | Nifty LargeMidcap 250 TRI |
| Launch date | 07-09-2026 | 30-12-2019 |
| Minimum investment | ₹5,000 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Nilay Dalal, Laukik Bagwe | $ Mr. Neelesh Dhamnaskar, Kirti Dalvi |
| Exit load | Exit load of 0.50%, if redeemed within 3 months. | Exit Load: An Exit Load of 1% is payable if Units are redeemed / switched-out upto 3 months from the date of allotment Nil if Units are redeemed / switched-out after months from the date of allotment. |
ITI Multi Asset Allocation vs Mahindra Manulife Large & Mid 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 |
|---|---|---|---|---|---|---|---|
| ITI Multi Asset Allocation Fund (Direct) | −3.02% | -- | -- | -- | -- | -- | -- |
| Mahindra Manulife Large & Mid Cap Fund (Direct) | −0.88% | −3.09% | +2.43% | −2.22% | +11.86% | +10.94% | -- |
| Multi Asset average | −1.71% | -- | -- | -- | -- | -- | -- |
| Large & Mid Cap average | −1.78% | −5.20% | −0.43% | −3.99% | +13.28% | +11.36% | -- |
Category average: the average of the 37 Multi Asset funds and the 36 Large & Mid Cap funds, same plan type.
ITI Multi Asset Allocation vs Mahindra Manulife Large & Mid Cap: Year-wise Returns
| Year | ITI Multi Asset AllocationITI Multi Asset Allocation | Mahindra Manulife Large & Mid CapMahindra Manulife Large & Mid Cap |
|---|---|---|
| 2026to date | -- | −1.33% |
| 2025 | -- | +3.77% |
| 2024 | -- | +18.48% |
| 2023 | -- | +34.45% |
| 2022 | -- | +3.94% |
| 2021 | -- | +48.04% |
ITI Multi Asset Allocation vs Mahindra Manulife Large & Mid Cap: Rolling Returns
Every holding period of both funds, against NIFTY LargeMidcap 250 TRI, the benchmark of Mahindra Manulife Large & Mid Cap Fund
ITI Multi Asset Allocation vs Mahindra Manulife Large & Mid Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | ITI Multi Asset Allocation Fund (Direct) | Mahindra Manulife Large & Mid Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −27.08% | +17.35% |
| Standard deviation | 10.04% | 17.53% |
| Sharpe ratio | -3.24 | 0.70 |
| Sortino ratio | -3.61 | 0.92 |
| Maximum drawdown | −6.0% (23-10-2026) | −32.9% (23-03-2020) |
| Beta | -- | 0.97 |
| Alpha | -- | +1.80% |
From daily NAVs, 10-09-2026 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 Multi Asset Allocation Fund (Direct)
Mahindra Manulife Large & Mid Cap Fund (Direct)
NIFTY LargeMidcap 250 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| ITI Multi Asset Allocation Fund (Direct) | −6.0% | 23-09-2026 | 23-10-2026 | Not yet | -- | −4.6% |
| Mahindra Manulife Large & Mid Cap Fund (Direct) | −8.4% | 10-09-2026 | 23-10-2026 | Not yet | -- | −5.4% |
| NIFTY LargeMidcap 250 TRI | −7.4% | 10-09-2026 | 23-10-2026 | Not yet | -- | −5.4% |
From daily values since 10-09-2026, the first day every fund has.
ITI Multi Asset Allocation vs Mahindra Manulife Large & Mid Cap: Portfolio Overlap
From each fund's latest monthly portfolio: ITI Multi Asset Allocation Fund, September 2026; Mahindra Manulife Large & Mid Cap Fund, September 2026
Holdings in common
- Overlap
- 18.0%
- Held by both
- 14
- Only in ITI Multi Asset Allocation
- 33
- Only in Mahindra Manulife Large & Mid Cap
- 55
| Security | % of ITI Multi Asset Allocation | % of Mahindra Manulife Large & Mid Cap |
|---|---|---|
| ICICI Bank Limited | 2.93% | 4.38% |
| Reliance Industries Limited | 1.66% | 1.94% |
| HDFC Bank Limited | 1.65% | 2.71% |
| IDFC First Bank Limited | 1.96% | 1.51% |
| Eternal Limited | 1.44% | 2.84% |
| Titan Company Limited | 1.25% | 1.28% |
| Global Health Limited | 1.14% | 1.08% |
| Bajaj Auto Limited | 1.08% | 1.75% |
| Solar Industries India Limited | 1.04% | 1.44% |
| Bharat Heavy Electricals Limited | 1.03% | 1.71% |
| Bajaj Finance Limited | 0.99% | 1.08% |
| Glenmark Pharmaceuticals Limited | 0.94% | 2.36% |
| APL Apollo Tubes Limited | 0.99% | 0.82% |
| IIFL Finance Limited | 0.99% | 0.54% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 18.0% means 18.0% 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 ITI Multi Asset Allocation Fund
| Security | % of fund |
|---|---|
| 6.60% REC Limited (30/06/2027) | 3.44% |
| Union Bank of India (12/03/2027) | 3.36% |
| DSP Gold ETF | 3.32% |
| Mirae Asset Gold ETF | 2.79% |
| Manipal Payment and Identity Solutions Ltd | 2.67% |
Largest holdings only in Mahindra Manulife Large & Mid Cap Fund
| Security | % of fund |
|---|---|
| Axis Bank Limited | 2.81% |
| The Federal Bank Limited | 2.76% |
| Senores Pharmaceuticals Limited | 2.16% |
| IndusInd Bank Limited | 2.04% |
| Laurus Labs Limited | 2.03% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | ITI Multi Asset Allocation | Mahindra Manulife Large & Mid Cap |
|---|---|---|
| Equity | 46.9% | 96.2% |
| Debt | 6.8% | 0.0% |
| Cash and others | 46.3% | 3.8% |
Market cap of stocks
| Market cap | ITI Multi Asset Allocation | Mahindra Manulife Large & Mid Cap |
|---|---|---|
| Large Cap | 18.1% | 44.9% |
| Mid Cap | 7.8% | 37.5% |
| Small Cap | 17.4% | 13.8% |
| Not on AMFI's list | 3.7% | 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 Multi Asset Allocation | Mahindra Manulife Large & Mid Cap |
|---|---|---|
| Banks | 8.9% | 18.5% |
| Pharmaceuticals & Biotechnology | 3.9% | 13.0% |
| Finance | 3.1% | 5.9% |
| Industrial Products | 4.1% | 3.1% |
| Auto Components | 2.9% | 3.8% |
| Capital Markets | 0.0% | 3.8% |
| Retailing | 2.4% | 3.7% |
| Electrical Equipment | 2.8% | 3.0% |
The six largest sectors of each fund's stocks, % of the fund.
ITI Multi Asset Allocation vs Mahindra Manulife Large & Mid Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | ITI Multi Asset Allocation Fund | Mahindra Manulife Large & Mid Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.92% | 0.84% |
| Base expense ratio (Direct) | 0.34% | 0.52% |
| Total expense ratio (Regular) | 3.61% | 2.20% |
| Base expense ratio (Regular) | 1.82% | 1.70% |
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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ITI Multi Asset Allocation Fund vs Mahindra Manulife Large & Mid Cap Fund: Frequently Asked Questions
What is the difference between ITI Multi Asset Allocation Fund and Mahindra Manulife Large & Mid Cap Fund?
ITI Multi Asset Allocation Fund is a Multi Asset fund, Mahindra Manulife Large & Mid Cap Fund is a Large & Mid Cap fund, run by ITI Mutual Fund and Mahindra Manulife Mutual Fund. Their portfolios overlap 18.0%. ITI Multi Asset Allocation Fund charges 1.92% a year and Mahindra Manulife Large & Mid Cap Fund 0.84%.
Which has the lower expense ratio, ITI Multi Asset Allocation Fund or Mahindra Manulife Large & Mid Cap Fund?
Mahindra Manulife Large & Mid Cap Fund charges less: 0.84% a year against 1.92%. These are the Direct plans' total expense ratios reported to AMFI.
How much do ITI Multi Asset Allocation Fund and Mahindra Manulife Large & Mid Cap Fund overlap?
18.0%. They hold 14 of the same securities, the largest shared ones being ICICIBANK, RELIANCE, HDFCBANK. From each fund's latest monthly portfolio.
Which is riskier, ITI Multi Asset Allocation Fund or Mahindra Manulife Large & Mid Cap Fund?
On SEBI's riskometer, ITI Multi Asset Allocation Fund is rated High and Mahindra Manulife Large & Mid Cap Fund Very High. Over their common history, the standard deviation of daily returns was 10.04% and 17.53% a year.
Can I invest in both ITI Multi Asset Allocation Fund and Mahindra Manulife Large & Mid Cap Fund?
Yes. 18.0% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages ITI Multi Asset Allocation Fund and Mahindra Manulife Large & Mid Cap Fund?
ITI Multi Asset Allocation Fund: Nilay Dalal, Laukik Bagwe. Mahindra Manulife Large & Mid Cap Fund: $ Mr. Neelesh Dhamnaskar, Kirti Dalvi.
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.