Mahindra Manulife Aggressive Hybrid Fund vs Mahindra Manulife Flexi Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Mahindra Manulife Aggressive Hybrid Fund is an Aggressive Hybrid fund and Mahindra Manulife Flexi Cap Fund is a Flexi Cap fund. In the 3 years to 30-10-2026, Mahindra Manulife Aggressive Hybrid Fund (Direct) returned 10.6% a year and Mahindra Manulife Flexi Cap Fund (Direct) returned 9.3% a year. Mahindra Manulife Aggressive Hybrid Fund charges 0.84% a year and Mahindra Manulife Flexi Cap Fund 1.00% (Direct plans). Their portfolios overlap 45.3%: they hold 38 of the same securities.
Mahindra Manulife Aggressive Hybrid Fund
Aggressive Hybrid
- 3 year return
- 10.6%
- Expense ratio
- 0.84%
- NAV
- ₹28.59
Mahindra Manulife Flexi Cap Fund
Flexi Cap
- 3 year return
- 9.3%
- Expense ratio
- 1.00%
- NAV
- ₹16.37
Which is better, Mahindra Manulife Aggressive Hybrid or Mahindra Manulife Flexi 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 Aggressive Hybrid returned more over 5 years: 10.2% a year against 9.8%.
- Mahindra Manulife Aggressive Hybrid returned more over 3 years: 10.6% a year against 9.3%.
- Mahindra Manulife Aggressive Hybrid costs less: 0.84% a year against 1.00% (Direct plans).
- Mahindra Manulife Aggressive Hybrid swung less over 3 years: a standard deviation of 10.6% a year against 13.5%.
- Mahindra Manulife Aggressive Hybrid fell less in its worst fall since 25-08-2021: −13.4% against −17.2%.
- Mahindra Manulife Flexi Cap holds more in large companies: 51.4% of the fund in large caps against 40.8%.
- Mahindra Manulife Aggressive Hybrid is the larger fund: ₹2,798 Cr against ₹1,510 Cr.
- Their portfolios overlap 45.3%: 38 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 | Mahindra Manulife Aggressive Hybrid Fund | Mahindra Manulife Flexi Cap Fund |
|---|---|---|
| Fund house | Mahindra Manulife Mutual Fund | Mahindra Manulife Mutual Fund |
| Category | Aggressive Hybrid | Flexi Cap |
| AUM | ₹2,798 Cr (30-09-2026) | ₹1,510 Cr (30-09-2026) |
| NAV | ₹28.59 (Direct) | ₹16.37 (Direct) |
| Expense ratio (Direct) | 0.84% | 1.00% |
| Expense ratio (Regular) | 2.17% | 2.49% |
| Riskometer | Very High | Very High |
| Benchmark | CRISIL Hybrid 35+65 - Aggressive Index | Nifty 500 TRI |
| Launch date | 19-07-2019 | 23-08-2021 |
| Minimum investment | ₹1,000 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Kirti Dalvi, Vishal Jajoo, Rahul Pal, Amit Garg | $ Mr. Neelesh Dhamnaskar, Kirti Dalvi |
| Exit load | Exit load for units more than 10% of the investments, an exit load of 1% if redeemed within 3 months. | Exit load 1% if redeemed within 3 months. |
Mahindra Manulife Aggressive Hybrid vs Mahindra Manulife Flexi 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 |
|---|---|---|---|---|---|---|---|
| Mahindra Manulife Aggressive Hybrid Fund (Direct) | −2.15% | −6.30% | −4.03% | −8.15% | +10.64% | +10.17% | -- |
| Mahindra Manulife Flexi Cap Fund (Direct) | −2.66% | −5.60% | −3.28% | −8.56% | +9.29% | +9.80% | -- |
| Aggressive Hybrid average | −0.88% | −3.67% | −0.27% | −3.33% | +10.77% | +9.35% | -- |
| Flexi Cap average | −1.62% | −4.17% | +1.00% | −3.58% | +12.37% | +10.04% | -- |
Category average: the average of the 29 Aggressive Hybrid funds and the 46 Flexi Cap funds, same plan type.
Mahindra Manulife Aggressive Hybrid vs Mahindra Manulife Flexi Cap: Year-wise Returns
| Year | Aggressive HybridMahindra Manulife Aggressive Hybrid | Flexi CapMahindra Manulife Flexi Cap |
|---|---|---|
| 2026to date | −8.78% | −8.94% |
| 2025 | +9.85% | +8.59% |
| 2024 | +21.67% | +16.60% |
| 2023 | +25.49% | +33.23% |
| 2022 | +6.29% | +3.48% |
| 2021 | +33.09% | -- |
Mahindra Manulife Aggressive Hybrid vs Mahindra Manulife Flexi Cap: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of Mahindra Manulife Flexi Cap Fund
Rolling returns
Every 3-year holding period, 539 of them, one for each trading day from 26-08-2024 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.
Mahindra Manulife Aggressive Hybrid Fund (Direct)
Mahindra Manulife Flexi Cap Fund (Direct)
Nifty 500 TRI
to
Oct 2024Mar 2022
to
Mar 2025Jul 2022
to
Jul 2025Dec 2022
to
Dec 2025Apr 2023
to
Apr 2026Aug 2023
to
Aug 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mahindra Manulife Aggressive Hybrid | 0.0 | 0.0 | 0.2 | 20.8 | 67.7 | 11.3 | 0.0 | 17.3% | 17.8% | 9.9% | 23.4% | 100% |
| Mahindra Manulife Flexi Cap | 0.0 | 0.0 | 5.0 | 20.4 | 59.0 | 15.6 | 0.0 | 16.9% | 17.6% | 8.1% | 24.6% | 79% |
| Nifty 500 TRI | 0.0 | 0.0 | 3.5 | 35.3 | 55.8 | 5.4 | 0.0 | 15.4% | 15.5% | 8.8% | 22.3% | -- |
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 Nifty 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 25-08-2021. Past returns do not promise future returns.
Mahindra Manulife Aggressive Hybrid vs Mahindra Manulife Flexi Cap: 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 02-08-2021 to 30-10-2026: 63 instalments, ₹6,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Mahindra Manulife Aggressive HybridMahindra Manulife Aggressive Hybrid Fund (Direct) | ₹6,30,000 | ₹7,89,377 | ₹1,59,377 | 8.5% |
| Mahindra Manulife Flexi CapMahindra Manulife Flexi Cap Fund (Direct) | ₹6,30,000 | ₹7,77,422 | ₹1,47,422 | 8.0% |
Mahindra Manulife Aggressive HybridMahindra Manulife Aggressive Hybrid Fund (Direct)
Mahindra Manulife Flexi CapMahindra Manulife Flexi Cap 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.
Mahindra Manulife Aggressive Hybrid vs Mahindra Manulife Flexi Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Mahindra Manulife Aggressive Hybrid Fund (Direct) | Mahindra Manulife Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −8.15% | −8.56% |
| Standard deviation | 10.72% | 13.74% |
| Sharpe ratio | -1.25 | -1.00 |
| Sortino ratio | -1.63 | -1.33 |
| Maximum drawdown | −11.3% (30-03-2026) | −14.8% (31-03-2026) |
| Beta | -- | 0.94 |
| Alpha | -- | −1.99% |
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 | Mahindra Manulife Aggressive Hybrid Fund (Direct) | Mahindra Manulife Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.64% | +9.29% |
| Standard deviation | 10.64% | 13.52% |
| Sharpe ratio | 0.43 | 0.24 |
| Sortino ratio | 0.59 | 0.33 |
| Maximum drawdown | −12.3% (28-02-2025) | −16.9% (28-02-2025) |
| Beta | -- | 0.93 |
| Alpha | -- | −0.63% |
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 | Mahindra Manulife Aggressive Hybrid Fund (Direct) | Mahindra Manulife Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.17% | +9.80% |
| Standard deviation | 10.69% | 13.80% |
| Sharpe ratio | 0.41 | 0.29 |
| Sortino ratio | 0.56 | 0.39 |
| Maximum drawdown | −13.4% (17-06-2022) | −17.2% (20-06-2022) |
| Beta | -- | 0.94 |
| Alpha | -- | +1.16% |
From daily NAVs, 29-10-2021 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.
| Measure | Mahindra Manulife Aggressive Hybrid Fund (Direct) | Mahindra Manulife Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.54% | +9.96% |
| Standard deviation | 12.11% | 13.66% |
| Sharpe ratio | 0.86 | 0.31 |
| Sortino ratio | 1.15 | 0.42 |
| Maximum drawdown | −25.4% (23-03-2020) | −17.2% (20-06-2022) |
| Beta | -- | 0.94 |
| Alpha | -- | +0.27% |
From daily NAVs, 23-07-2019 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.
Mahindra Manulife Aggressive Hybrid Fund (Direct)
Mahindra Manulife Flexi Cap Fund (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Mahindra Manulife Aggressive Hybrid Fund (Direct) | −13.4% | 17-01-2022 | 17-06-2022 | 09-09-2022 | 3 months | −9.5% |
| Mahindra Manulife Flexi Cap Fund (Direct) | −17.2% | 17-01-2022 | 20-06-2022 | 12-09-2022 | 3 months | −10.1% |
| Nifty 500 TRI | −18.6% | 26-09-2024 | 28-02-2025 | Not yet | -- | −8.8% |
From daily values since 25-08-2021, 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.
Mahindra Manulife Aggressive Hybrid Fund (Direct)
Mahindra Manulife Flexi Cap Fund (Direct)
Nifty 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.
Mahindra Manulife Aggressive Hybrid Fund (Direct)
Mahindra Manulife Flexi Cap Fund (Direct)
Nifty 500 TRI
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.
Mahindra Manulife Aggressive Hybrid Fund (Direct)
Mahindra Manulife Flexi Cap Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Mahindra Manulife Aggressive Hybrid Fund (Direct) | 85% | 71% | 4.41% |
| Mahindra Manulife Flexi Cap Fund (Direct) | 98% | 94% | 2.95% |
From month-end values since 25-08-2021. 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.
Mahindra Manulife Aggressive Hybrid vs Mahindra Manulife Flexi Cap: Portfolio Overlap
From each fund's latest monthly portfolio: Mahindra Manulife Aggressive Hybrid Fund, September 2026; Mahindra Manulife Flexi Cap Fund, September 2026
Holdings in common
- Overlap
- 45.3%
- Held by both
- 38
- Only in Mahindra Manulife Aggressive Hybrid
- 73
- Only in Mahindra Manulife Flexi Cap
- 34
| Security | % of Mahindra Manulife Aggressive Hybrid | % of Mahindra Manulife Flexi Cap |
|---|---|---|
| ICICI Bank Limited | 4.79% | 6.44% |
| HDFC Bank Limited | 4.69% | 3.93% |
| Bharti Airtel Limited | 2.13% | 2.49% |
| Axis Bank Limited | 1.89% | 2.55% |
| Kotak Mahindra Bank Ltd | 1.85% | 1.92% |
| Reliance Industries Limited | 2.32% | 1.81% |
| Eternal Limited | 1.58% | 2.50% |
| Larsen & Toubro Limited | 1.53% | 2.02% |
| Tech Mahindra Limited | 1.50% | 1.50% |
| IndusInd Bank Limited | 1.36% | 1.50% |
| Zydus Lifesciences Limited | 1.31% | 1.25% |
| TVS Motor Company Limited | 1.17% | 1.53% |
| UNO Minda Limited | 1.13% | 1.74% |
| Sun Pharmaceutical Industries Limited | 1.12% | 1.56% |
| Cochin Shipyard Limited | 1.10% | 1.35% |
| Coforge Limited | 1.05% | 1.34% |
| Dr. Lal Path Labs Limited | 1.04% | 1.40% |
| Trent Limited | 1.01% | 1.05% |
| Grasim Industries Limited | 0.96% | 1.01% |
| Titagarh Rail Systems Limited | 0.96% | 0.96% |
| Divi's Laboratories Limited | 0.95% | 1.72% |
| Astral Limited | 0.90% | 1.05% |
| Titan Company Limited | 0.86% | 1.60% |
| Belrise Industries Ltd. | 1.18% | 0.85% |
| Adani Enterprises Limited | 1.35% | 0.82% |
| Shriram Finance Limited | 0.73% | 1.18% |
| Piramal Finance Limited | 1.01% | 0.72% |
| NMDC Limited | 0.72% | 1.12% |
| InterGlobe Aviation Limited | 0.68% | 0.92% |
| LG Electronics India Ltd | 0.66% | 1.33% |
| Clean Max Enviro Energy Solutions Limited | 0.66% | 1.22% |
| Kirloskar Oil Engines Limited | 1.41% | 0.61% |
| Aarti Industries Limited | 0.59% | 1.06% |
| Tata Capital Limited | 0.82% | 0.53% |
| K.P.R. Mill Limited | 0.63% | 0.50% |
| Bandhan Bank Limited | 0.50% | 0.89% |
| Suzlon Energy Limited | 0.42% | 1.02% |
| Arvind Fashions Limited | 0.40% | 0.58% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 45.3% means 45.3% 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 Mahindra Manulife Aggressive Hybrid Fund
| Security | % of fund |
|---|---|
| Mahindra Manulife Liquid Fund -Direct Plan -Growth | 4.65% |
| Bajaj Finserv Limited | 1.79% |
| 7.71% Government of India 2066 | 1.70% |
| 7.24% Government of India 2055 | 1.53% |
| Adani Energy Solutions Limited | 1.40% |
Largest holdings only in Mahindra Manulife Flexi Cap Fund
| Security | % of fund |
|---|---|
| Bajaj Finance Ltd | 2.38% |
| The Federal Bank Limited | 1.91% |
| Torrent Pharmaceuticals Limited | 1.69% |
| Adani Ports and Special Economic Zone Limited | 1.67% |
| RBL Bank Limited | 1.52% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Mahindra Manulife Aggressive Hybrid | Mahindra Manulife Flexi Cap |
|---|---|---|
| Equity | 73.9% | 96.8% |
| Debt | 17.2% | 0.0% |
| Cash and others | 8.9% | 3.2% |
Market cap of stocks
| Market cap | Mahindra Manulife Aggressive Hybrid | Mahindra Manulife Flexi Cap |
|---|---|---|
| Large Cap | 40.8% | 51.4% |
| Mid Cap | 22.6% | 21.8% |
| Small Cap | 10.5% | 23.0% |
| Not on AMFI's list | 0.0% | 0.7% |
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 | Mahindra Manulife Aggressive Hybrid | Mahindra Manulife Flexi Cap |
|---|---|---|
| Banks | 16.0% | 22.0% |
| Pharmaceuticals & Biotechnology | 5.0% | 9.7% |
| Finance | 7.0% | 4.8% |
| Retailing | 4.2% | 6.2% |
| Industrial Products | 4.2% | 4.8% |
| IT - Software | 2.5% | 4.1% |
| Consumer Durables | 3.6% | 2.9% |
The six largest sectors of each fund's stocks, % of the fund.
Mahindra Manulife Aggressive Hybrid vs Mahindra Manulife Flexi Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Mahindra Manulife Aggressive Hybrid Fund | Mahindra Manulife Flexi Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.84% | 1.00% |
| Base expense ratio (Direct) | 0.49% | 0.52% |
| Total expense ratio (Regular) | 2.17% | 2.49% |
| Base expense ratio (Regular) | 1.67% | 1.83% |
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 Mahindra Manulife Aggressive Hybrid with
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- Mahindra Manulife Aggressive Hybrid vs Edelweiss Aggressive Hybrid
Mahindra Manulife Aggressive Hybrid Fund vs Mahindra Manulife Flexi Cap Fund: Frequently Asked Questions
What is the difference between Mahindra Manulife Aggressive Hybrid Fund and Mahindra Manulife Flexi Cap Fund?
Mahindra Manulife Aggressive Hybrid Fund is an Aggressive Hybrid fund, Mahindra Manulife Flexi Cap Fund is a Flexi Cap fund, run by Mahindra Manulife Mutual Fund. Their portfolios overlap 45.3%. Mahindra Manulife Aggressive Hybrid Fund charges 0.84% a year and Mahindra Manulife Flexi Cap Fund 1.00%.
Which has given higher returns, Mahindra Manulife Aggressive Hybrid Fund or Mahindra Manulife Flexi Cap Fund?
Over 1 year: Mahindra Manulife Aggressive Hybrid Fund −8.15%, Mahindra Manulife Flexi Cap Fund −8.56%. Over 3 years: Mahindra Manulife Aggressive Hybrid Fund +10.64% a year, Mahindra Manulife Flexi Cap Fund +9.29% a year. Over 5 years: Mahindra Manulife Aggressive Hybrid Fund +10.17% a year, Mahindra Manulife Flexi Cap Fund +9.80% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Mahindra Manulife Aggressive Hybrid Fund or Mahindra Manulife Flexi Cap Fund?
Mahindra Manulife Aggressive Hybrid Fund charges less: 0.84% a year against 1.00%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Mahindra Manulife Aggressive Hybrid Fund and Mahindra Manulife Flexi Cap Fund overlap?
45.3%. They hold 38 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, BHARTIARTL. From each fund's latest monthly portfolio.
Which is riskier, Mahindra Manulife Aggressive Hybrid Fund or Mahindra Manulife Flexi Cap Fund?
On SEBI's riskometer, Mahindra Manulife Aggressive Hybrid Fund is rated Very High and Mahindra Manulife Flexi Cap Fund Very High. Over 3 years, the standard deviation of daily returns was 10.64% and 13.52% a year.
Which is better for SIP, Mahindra Manulife Aggressive Hybrid Fund or Mahindra Manulife Flexi Cap Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,55,156 in Mahindra Manulife Aggressive Hybrid Fund (XIRR 8.3% a year) and ₹7,44,780 in Mahindra Manulife Flexi Cap Fund (XIRR 7.8% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Mahindra Manulife Aggressive Hybrid Fund and Mahindra Manulife Flexi Cap Fund?
Yes. 45.3% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Mahindra Manulife Aggressive Hybrid Fund and Mahindra Manulife Flexi Cap Fund?
Mahindra Manulife Aggressive Hybrid Fund: Kirti Dalvi, Vishal Jajoo, Rahul Pal, Amit Garg. Mahindra Manulife Flexi 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.