JM Focused Fund vs JM Multi Asset Allocation Fund
Direct Plan, Growth option · Data as on 30-10-2026
JM Focused Fund is a Focused fund and JM Multi Asset Allocation Fund is a Multi Asset fund. JM Focused Fund charges 1.25% a year and JM Multi Asset Allocation Fund 1.05% (Direct plans). Their portfolios overlap 35.3%: they hold 24 of the same securities.
JM Multi Asset Allocation Fund
Multi Asset
- Expense ratio
- 1.05%
- NAV
- ₹9.75
Which is better, JM Focused or JM 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.
- JM Multi Asset Allocation costs less: 1.05% a year against 1.25% (Direct plans).
- JM Multi Asset Allocation fell less in its worst fall since 20-07-2026: −8.8% against −12.8%.
- JM Focused holds more in large companies: 44.0% of the fund in large caps against 17.0%.
- JM Focused is the larger fund: ₹274 Cr against ₹167 Cr.
- Their portfolios overlap 35.3%: 24 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 | JM Focused Fund | JM Multi Asset Allocation Fund |
|---|---|---|
| Fund house | JM Financial Mutual Fund | JM Financial Mutual Fund |
| Category | Focused | Multi Asset |
| AUM | ₹274 Cr (30-09-2026) | ₹167 Cr (30-09-2026) |
| NAV | ₹22.36 (Direct) | ₹9.75 (Direct) |
| Expense ratio (Direct) | 1.25% | 1.05% |
| Expense ratio (Regular) | 2.85% | 2.73% |
| Riskometer | Very High | Very High |
| Benchmark | BSE 500 TRI | 55% Nifty 500 + 30% CRISIL Short term bond Index + 10% Domestic Price of Gold + 5% Domestic Price of silver |
| Launch date | 05-03-2008 | 15-07-2026 |
| Minimum investment | ₹1,000 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Asit Bhandarkar, Satish Ramanathan, Deepak Gupta, Ruchi Fozdar | Asit Bhandarkar, Deepak Gupta, Killol Pandya, Satish Ramanathan |
| Exit load | Exit load of 1%, if redeemed within 30 days. | In respect of each purchase/ switch-in of Units, an Exit Load of 1.00% is payable if Units are redeemed/ switched-out within 60 days from the date of allotment. No Exit Load is payable if Units are redeemed / switched-out after 60 days from the date of allotment. |
JM Focused vs JM 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 |
|---|---|---|---|---|---|---|---|
| JM Focused Fund (Direct) | −3.31% | −6.29% | −0.66% | −7.99% | +11.02% | +10.67% | +11.82% |
| JM Multi Asset Allocation Fund (Direct) | −3.19% | −3.00% | -- | -- | -- | -- | -- |
| Focused average | −1.00% | −4.12% | +1.39% | −3.09% | +12.30% | +10.21% | +13.15% |
| Multi Asset average | −1.71% | −3.33% | -- | -- | -- | -- | -- |
Category average: the average of the 28 Focused funds and the 37 Multi Asset funds, same plan type.
JM Focused vs JM Multi Asset Allocation: Year-wise Returns
| Year | FocusedJM Focused | Multi Asset AllocationJM Multi Asset Allocation |
|---|---|---|
| 2026to date | −5.27% | -- |
| 2025 | −0.33% | -- |
| 2024 | +26.10% | -- |
| 2023 | +34.05% | -- |
| 2022 | +7.94% | -- |
| 2021 | +17.62% | -- |
JM Focused vs JM Multi Asset Allocation: Rolling Returns
Every holding period of both funds, against BSE 500 TRI, the benchmark of JM Focused Fund
JM Focused vs JM Multi Asset Allocation: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | JM Focused Fund (Direct) | JM Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.38% | −8.20% |
| Standard deviation | 18.98% | 10.24% |
| Sharpe ratio | 0.39 | -1.31 |
| Sortino ratio | 0.53 | -1.63 |
| Maximum drawdown | −37.4% (23-03-2020) | −8.8% (23-10-2026) |
| Beta | 1.11 | -- |
| Alpha | −0.15% | -- |
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.
JM Focused Fund (Direct)
JM Multi Asset Allocation Fund (Direct)
BSE 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| JM Focused Fund (Direct) | −12.8% | 21-08-2026 | 23-10-2026 | Not yet | -- | −10.0% |
| JM Multi Asset Allocation Fund (Direct) | −8.8% | 26-08-2026 | 23-10-2026 | Not yet | -- | −7.3% |
| BSE 500 TRI | −9.7% | 06-08-2026 | 23-10-2026 | Not yet | -- | −7.8% |
From daily values since 20-07-2026, the first day every fund has.
JM Focused vs JM Multi Asset Allocation: Portfolio Overlap
From each fund's latest monthly portfolio: JM Focused Fund, September 2026; JM Multi Asset Allocation Fund, September 2026
Holdings in common
- Overlap
- 35.3%
- Held by both
- 24
- Only in JM Focused
- 3
- Only in JM Multi Asset Allocation
- 29
| Security | % of JM Focused | % of JM Multi Asset Allocation |
|---|---|---|
| Ujjivan Small Finance Bank Limited | 5.05% | 2.35% |
| One 97 Communications Limited | 4.60% | 2.07% |
| HDFC Bank Limited | 2.59% | 1.91% |
| Larsen & Toubro Limited | 4.53% | 1.89% |
| IDFC First Bank Limited | 3.98% | 1.86% |
| Bajaj Finance Limited | 4.61% | 1.84% |
| Adani Port & Special Economic Zone Ltd | 3.87% | 1.68% |
| Amber Enterprises India Limited | 3.86% | 1.67% |
| Eternal Limited | 4.09% | 1.63% |
| Eicher Motors Limited | 3.79% | 1.51% |
| Titan Company Limited | 3.69% | 1.47% |
| Shriram Finance Limited | 3.45% | 1.42% |
| Samvardhana Motherson International Ltd | 4.17% | 1.41% |
| Premier Energies Limited | 3.18% | 1.33% |
| One Source Specialty Pharma Ltd | 4.04% | 1.33% |
| Honasa Consumer Limited | 4.53% | 1.32% |
| Rentomojo Limited | 1.15% | 1.89% |
| Billionbrains Garage Ventures Ltd. | 3.65% | 1.14% |
| CEAT Limited | 3.64% | 1.11% |
| InterGlobe Aviation Limited | 3.48% | 1.10% |
| GRAVITA INDIA LIMITED | 2.35% | 1.08% |
| Nippon Life India Asset Management Ltd | 2.95% | 1.02% |
| JSW Energy Limited | 1.99% | 1.02% |
| Linde India Limited | 2.41% | 0.96% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 35.3% means 35.3% 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 JM Focused Fund
| Security | % of fund |
|---|---|
| Lodha Developers Limited | 4.15% |
| TENNECO CLEAN AIR INDIA LIMITED | 2.32% |
| Hindustan Aeronautics Limited | 2.05% |
Largest holdings only in JM Multi Asset Allocation Fund
| Security | % of fund |
|---|---|
| Tata Gold Exchange Traded Fund | 6.84% |
| DSP Mutual Fund - DSP Gold ETF | 4.35% |
| 8.75% Piramal Finance Ltd 29-OCT-2027 | 2.99% |
| 7.23% Power Finance Corporation Limited 05-JAN-2027 | 2.99% |
| Bank of Baroda 11-DEC-2026 | 2.96% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | JM Focused | JM Multi Asset Allocation |
|---|---|---|
| Equity | 94.2% | 49.3% |
| Debt | 0.0% | 29.0% |
| Cash and others | 5.8% | 21.7% |
Market cap of stocks
| Market cap | JM Focused | JM Multi Asset Allocation |
|---|---|---|
| Large Cap | 44.0% | 17.0% |
| Mid Cap | 23.3% | 10.5% |
| Small Cap | 25.8% | 16.1% |
| Not on AMFI's list | 1.1% | 5.8% |
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 | JM Focused | JM Multi Asset Allocation |
|---|---|---|
| Banks | 11.6% | 6.1% |
| Auto Components | 10.1% | 3.7% |
| Finance | 8.1% | 3.3% |
| Consumer Durables | 7.5% | 3.1% |
| Capital Markets | 6.6% | 3.2% |
| Financial Technology (Fintech) | 4.6% | 2.1% |
| Electrical Equipment | 3.2% | 3.8% |
The six largest sectors of each fund's stocks, % of the fund.
JM Focused vs JM Multi Asset Allocation: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | JM Focused Fund | JM Multi Asset Allocation Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.25% | 1.05% |
| Base expense ratio (Direct) | 0.72% | 0.40% |
| Total expense ratio (Regular) | 2.85% | 2.73% |
| Base expense ratio (Regular) | 2.10% | 1.82% |
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 JM Focused with
Compare JM Multi Asset Allocation with
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JM Focused Fund vs JM Multi Asset Allocation Fund: Frequently Asked Questions
What is the difference between JM Focused Fund and JM Multi Asset Allocation Fund?
JM Focused Fund is a Focused fund, JM Multi Asset Allocation Fund is a Multi Asset fund, run by JM Financial Mutual Fund. Their portfolios overlap 35.3%. JM Focused Fund charges 1.25% a year and JM Multi Asset Allocation Fund 1.05%.
Which has the lower expense ratio, JM Focused Fund or JM Multi Asset Allocation Fund?
JM Multi Asset Allocation Fund charges less: 1.05% a year against 1.25%. These are the Direct plans' total expense ratios reported to AMFI.
How much do JM Focused Fund and JM Multi Asset Allocation Fund overlap?
35.3%. They hold 24 of the same securities, the largest shared ones being UJJIVANSFB, PAYTM, HDFCBANK. From each fund's latest monthly portfolio.
Which is riskier, JM Focused Fund or JM Multi Asset Allocation Fund?
On SEBI's riskometer, JM Focused Fund is rated Very High and JM Multi Asset Allocation Fund Very High. Over their common history, the standard deviation of daily returns was 18.98% and 10.24% a year.
Can I invest in both JM Focused Fund and JM Multi Asset Allocation Fund?
Yes. 35.3% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages JM Focused Fund and JM Multi Asset Allocation Fund?
JM Focused Fund: Asit Bhandarkar, Satish Ramanathan, Deepak Gupta, Ruchi Fozdar. JM Multi Asset Allocation Fund: Asit Bhandarkar, Deepak Gupta, Killol Pandya, Satish Ramanathan.
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.