LIC MF Balanced Advantage Fund vs LIC MF Multi Asset Allocation Fund
Direct Plan, Growth option · Data as on 30-10-2026
LIC MF Balanced Advantage Fund is a Balanced Advantage fund and LIC MF Multi Asset Allocation Fund is a Multi Asset fund. In the year to 30-10-2026, LIC MF Balanced Advantage Fund (Direct) returned −3.6% and LIC MF Multi Asset Allocation Fund (Direct) returned −3.3%. LIC MF Balanced Advantage Fund charges 1.44% a year and LIC MF Multi Asset Allocation Fund 1.10% (Direct plans). Their portfolios overlap 28.8%: they hold 21 of the same securities.
LIC MF Balanced Advantage Fund
Balanced Advantage
- 1 year return
- −3.6%
- Expense ratio
- 1.44%
- NAV
- ₹14.27
LIC MF Multi Asset Allocation Fund
Multi Asset
- 1 year return
- −3.3%
- Expense ratio
- 1.10%
- NAV
- ₹11.76
Which is better, LIC MF Balanced Advantage or LIC MF 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.
- LIC MF Multi Asset Allocation returned more over 1 year: −3.3% against −3.6%.
- LIC MF Multi Asset Allocation costs less: 1.10% a year against 1.44% (Direct plans).
- LIC MF Balanced Advantage fell less in its worst fall since 18-02-2025: −9.4% against −13.5%.
- LIC MF Balanced Advantage holds more in large companies: 39.4% of the fund in large caps against 28.3%.
- LIC MF Multi Asset Allocation is the larger fund: ₹966 Cr against ₹653 Cr.
- Their portfolios overlap 28.8%: 21 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 | LIC MF Balanced Advantage Fund | LIC MF Multi Asset Allocation Fund |
|---|---|---|
| Fund house | LIC Mutual Fund | LIC Mutual Fund |
| Category | Balanced Advantage | Multi Asset |
| AUM | ₹653 Cr (30-09-2026) | ₹966 Cr (30-09-2026) |
| NAV | ₹14.27 (Direct) | ₹11.76 (Direct) |
| Expense ratio (Direct) | 1.44% | 1.10% |
| Expense ratio (Regular) | 2.86% | 2.40% |
| Riskometer | Very High | Very High |
| Benchmark | NIFTY 50 Hybrid Composite Debt 50:50 Index | Nifty 500 TRI 65% + Nifty Composite Debt Index 25% + Price of Domestic Gold 10% |
| Launch date | 12-11-2021 | 14-02-2025 |
| Minimum investment | ₹5,000 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Mahesh Bendre, Rahul Singh | Sumit Bhatnagar, Pratik Shroff |
| Exit load | • 12% of the units allotted shall be redeemed or switched out without any exit load, on or before completion of 3 months from the date of allotment of units. • 1% on remaining units if redeemed or switched out on or before completion of 3 months from the date of allotment of units • Nil, if redeemed or switched out after completion of 3 months from the date of allotment of units | Exit Load for units in excess of 12% of the investment,1% will be charged for redemption within 3 months. |
LIC MF Balanced Advantage vs LIC MF 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 |
|---|---|---|---|---|---|---|---|
| LIC MF Balanced Advantage Fund (Direct) | −1.92% | −2.62% | +0.53% | −3.59% | +7.58% | -- | -- |
| LIC MF Multi Asset Allocation Fund (Direct) | −3.85% | −4.42% | −2.29% | −3.26% | -- | -- | -- |
| Balanced Advantage average | −0.55% | −2.88% | +0.08% | −2.08% | +9.14% | -- | -- |
| Multi Asset average | −1.71% | −3.33% | −1.78% | +2.00% | -- | -- | -- |
Category average: the average of the 38 Balanced Advantage funds and the 37 Multi Asset funds, same plan type.
LIC MF Balanced Advantage vs LIC MF Multi Asset Allocation: Year-wise Returns
| Year | Balanced AdvantageLIC MF Balanced Advantage | Multi Asset AllocationLIC MF Multi Asset Allocation |
|---|---|---|
| 2026to date | −2.82% | −5.38% |
| 2025 | +4.80% | -- |
| 2024 | +13.92% | -- |
| 2023 | +15.21% | -- |
| 2022 | +7.27% | -- |
LIC MF Balanced Advantage vs LIC MF Multi Asset Allocation: Rolling Returns
Every holding period of both funds
Rolling returns
Every 1-year holding period, 171 of them, one for each trading day from 18-02-2026 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.
LIC MF Balanced Advantage Fund (Direct)
LIC MF Multi Asset Allocation Fund (Direct)
to
Mar 2026Apr 2025
to
Apr 2026Jun 2025
to
Jun 2026Jul 2025
to
Jul 2026Aug 2025
to
Aug 2026Oct 2025
to
Oct 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LIC MF Balanced Advantage | 45.6 | 35.7 | 18.7 | 0.0 | 0.0 | 0.0 | 0.0 | 1.0% | 0.3% | −6.4% | 9.2% |
| LIC MF Multi Asset Allocation | 5.8 | 5.8 | 33.9 | 39.2 | 7.0 | 5.8 | 2.3 | 10.4% | 10.4% | −4.7% | 26.9% |
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 18-02-2025. Past returns do not promise future returns.
LIC MF Balanced Advantage vs LIC MF 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 03-02-2025 to 30-10-2026: 21 instalments, ₹2,10,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| LIC MF Balanced AdvantageLIC MF Balanced Advantage Fund (Direct) | ₹2,10,000 | ₹2,09,010 | −₹990 | −0.5% |
| LIC MF Multi Asset AllocationLIC MF Multi Asset Allocation Fund (Direct) | ₹2,10,000 | ₹2,13,782 | ₹3,782 | 2.0% |
LIC MF Balanced AdvantageLIC MF Balanced Advantage Fund (Direct)
LIC MF Multi Asset AllocationLIC MF 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.
LIC MF Balanced Advantage vs LIC MF Multi Asset Allocation: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | LIC MF Balanced Advantage Fund (Direct) | LIC MF Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | −3.59% | −3.26% |
| Standard deviation | 9.78% | 14.27% |
| Sharpe ratio | -0.90 | -0.60 |
| Sortino ratio | -1.20 | -0.79 |
| Maximum drawdown | −8.9% (30-03-2026) | −13.5% (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 | LIC MF Balanced Advantage Fund (Direct) | LIC MF Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.40% | +10.02% |
| Standard deviation | 8.20% | 12.77% |
| Sharpe ratio | 0.19 | 0.36 |
| Sortino ratio | 0.26 | 0.49 |
| Maximum drawdown | −9.4% (30-03-2026) | −13.5% (23-03-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 15-11-2021 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.
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.
LIC MF Balanced Advantage Fund (Direct)
LIC MF Multi Asset Allocation Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| LIC MF Balanced Advantage Fund (Direct) | −9.4% | 27-06-2025 | 30-03-2026 | 03-08-2026 | 4 months | −6.7% |
| LIC MF Multi Asset Allocation Fund (Direct) | −13.5% | 29-01-2026 | 23-03-2026 | 25-08-2026 | 5 months | −7.9% |
From daily values since 18-02-2025, 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.
LIC MF Balanced Advantage Fund (Direct)
LIC MF Multi Asset Allocation Fund (Direct)
LIC MF Balanced Advantage vs LIC MF Multi Asset Allocation: Portfolio Overlap
From each fund's latest monthly portfolio: LIC MF Balanced Advantage Fund, September 2026; LIC MF Multi Asset Allocation Fund, September 2026
Holdings in common
- Overlap
- 28.8%
- Held by both
- 21
- Only in LIC MF Balanced Advantage
- 33
- Only in LIC MF Multi Asset Allocation
- 36
| Security | % of LIC MF Balanced Advantage | % of LIC MF Multi Asset Allocation |
|---|---|---|
| ICICI Bank Ltd. | 5.38% | 3.57% |
| INDO-MIM Ltd. | 2.66% | 2.62% |
| 7.47% Reliance Industries Ltd. | 2.29% | 2.06% |
| Multi Commodity Exchange Of India Ltd. | 2.02% | 2.81% |
| Larsen & Toubro Ltd. | 2.46% | 2.01% |
| Sun Pharmaceutical Industries Ltd. | 2.69% | 1.76% |
| InterGlobe Aviation Ltd. | 1.65% | 1.61% |
| Persistent Systems Ltd. | 1.53% | 1.45% |
| Mahindra & Mahindra Ltd. | 1.42% | 2.00% |
| Ultratech Cement Ltd. | 1.59% | 1.26% |
| Torrent Pharmaceuticals Ltd. | 1.95% | 1.22% |
| Navin Fluorine International Ltd. | 3.75% | 1.14% |
| 7.79% Bajaj Finance Ltd. | 2.25% | 1.01% |
| Apollo Hospitals Enterprise Ltd. | 1.50% | 1.00% |
| Karur Vysya Bank Ltd. | 0.97% | 1.52% |
| Siemens Energy India Ltd. | 0.86% | 1.61% |
| Radico Khaitan Ltd. | 1.60% | 0.62% |
| Schneider Electric Infrastructure Ltd. | 0.61% | 1.18% |
| Aster DM Quality Care Ltd. | 0.58% | 1.41% |
| Nippon Life India Asset Management Ltd. | 1.64% | 0.54% |
| Garware Hi-Tech Films Ltd. | 0.43% | 1.29% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 28.8% means 28.8% 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 LIC MF Balanced Advantage Fund
| Security | % of fund |
|---|---|
| 7.43% Jamnagar Utilities & Power Pvt. Ltd. | 6.35% |
| Divi's Laboratories Ltd. | 2.36% |
| AU Small Finance Bank Ltd. | 2.28% |
| Shriram Finance Ltd. | 2.26% |
| Solar Industries India Ltd. | 2.22% |
Largest holdings only in LIC MF Multi Asset Allocation Fund
| Security | % of fund |
|---|---|
| LIC Mutual Fund | 14.94% |
| Aditya Birla Sun Life Mutual Fund | 3.79% |
| SML Mahindra Ltd. | 3.10% |
| 7.83% Tata Capital Housing Finance Ltd. | 2.57% |
| Axis Bank Ltd. | 2.45% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | LIC MF Balanced Advantage | LIC MF Multi Asset Allocation |
|---|---|---|
| Equity | 75.7% | 67.7% |
| Debt | 16.4% | 11.7% |
| Cash and others | 7.9% | 20.6% |
Market cap of stocks
| Market cap | LIC MF Balanced Advantage | LIC MF Multi Asset Allocation |
|---|---|---|
| Large Cap | 39.4% | 28.3% |
| Mid Cap | 23.6% | 15.8% |
| Small Cap | 10.0% | 20.9% |
| Not on AMFI's list | 2.7% | 2.6% |
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 | LIC MF Balanced Advantage | LIC MF Multi Asset Allocation |
|---|---|---|
| Banks | 8.6% | 10.8% |
| Electrical Equipment | 8.2% | 2.8% |
| Pharmaceuticals & Biotechnology | 8.0% | 5.9% |
| Chemicals & Petrochemicals | 7.6% | 1.8% |
| IT - Software | 6.5% | 1.4% |
| Capital Markets | 3.7% | 4.7% |
| Finance | 4.4% | 1.3% |
| Agricultural, Commercial & Construction Vehicles | 0.0% | 4.1% |
| Industrial Products | 4.0% | 3.1% |
| Healthcare Services | 2.1% | 3.8% |
The six largest sectors of each fund's stocks, % of the fund.
LIC MF Balanced Advantage vs LIC MF Multi Asset Allocation: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | LIC MF Balanced Advantage Fund | LIC MF Multi Asset Allocation Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.44% | 1.10% |
| Base expense ratio (Direct) | 0.79% | 0.61% |
| Total expense ratio (Regular) | 2.86% | 2.40% |
| Base expense ratio (Regular) | 2.06% | 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
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Compare LIC MF Multi Asset Allocation with
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LIC MF Balanced Advantage Fund vs LIC MF Multi Asset Allocation Fund: Frequently Asked Questions
What is the difference between LIC MF Balanced Advantage Fund and LIC MF Multi Asset Allocation Fund?
LIC MF Balanced Advantage Fund is a Balanced Advantage fund, LIC MF Multi Asset Allocation Fund is a Multi Asset fund, run by LIC Mutual Fund. Their portfolios overlap 28.8%. LIC MF Balanced Advantage Fund charges 1.44% a year and LIC MF Multi Asset Allocation Fund 1.10%.
Which has given higher returns, LIC MF Balanced Advantage Fund or LIC MF Multi Asset Allocation Fund?
Over 1 year: LIC MF Balanced Advantage Fund −3.59%, LIC MF Multi Asset Allocation Fund −3.26%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, LIC MF Balanced Advantage Fund or LIC MF Multi Asset Allocation Fund?
LIC MF Multi Asset Allocation Fund charges less: 1.10% a year against 1.44%. These are the Direct plans' total expense ratios reported to AMFI.
How much do LIC MF Balanced Advantage Fund and LIC MF Multi Asset Allocation Fund overlap?
28.8%. They hold 21 of the same securities, the largest shared ones being ICICIBANK, INDOMIM, 7.47% Reliance Industries Ltd.. From each fund's latest monthly portfolio.
Which is riskier, LIC MF Balanced Advantage Fund or LIC MF Multi Asset Allocation Fund?
On SEBI's riskometer, LIC MF Balanced Advantage Fund is rated Very High and LIC MF Multi Asset Allocation Fund Very High. Over 1 years, the standard deviation of daily returns was 9.78% and 14.27% a year.
Can I invest in both LIC MF Balanced Advantage Fund and LIC MF Multi Asset Allocation Fund?
Yes. 28.8% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages LIC MF Balanced Advantage Fund and LIC MF Multi Asset Allocation Fund?
LIC MF Balanced Advantage Fund: Mahesh Bendre, Rahul Singh. LIC MF Multi Asset Allocation Fund: Sumit Bhatnagar, Pratik Shroff.
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.