Mirae Asset Multi Asset Allocation Fund vs UTI Nifty 500 Index Fund
Direct Plan, Growth option · Data as on 30-10-2026
Mirae Asset Multi Asset Allocation Fund is a Multi Asset fund and UTI Nifty 500 Index Fund is an Index fund. Mirae Asset Multi Asset Allocation Fund charges 0.65% a year and UTI Nifty 500 Index Fund 1.85% (Direct plans). Their portfolios overlap 45.7%: they hold 122 of the same securities.
Mirae Asset Multi Asset Allocation Fund
Multi Asset
- Expense ratio
- 0.65%
- NAV
- ₹13.67
Which is better, Mirae Asset Multi Asset Allocation or UTI Nifty 500 Index? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Mirae Asset Multi Asset Allocation costs less: 0.65% a year against 1.85% (Direct plans).
- Mirae Asset Multi Asset Allocation fell less in its worst fall since 31-08-2026: −5.7% against −8.6%.
- UTI Nifty 500 Index holds more in large companies: 67.3% of the fund in large caps against 44.6%.
- Mirae Asset Multi Asset Allocation is the larger fund: ₹3,607 Cr against ₹102 Cr.
- Their portfolios overlap 45.7%: 122 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 | Mirae Asset Multi Asset Allocation Fund | UTI Nifty 500 Index Fund |
|---|---|---|
| Fund house | Mirae Asset Mutual Fund | UTI Mutual Fund |
| Category | Multi Asset | Index |
| AUM | ₹3,607 Cr (30-09-2026) | ₹102 Cr (30-09-2026) |
| NAV | ₹13.67 (Direct) | ₹9.31 (Direct) |
| Expense ratio (Direct) | 0.65% | 1.85% |
| Expense ratio (Regular) | 2.15% | 2.56% |
| Riskometer | Very High | Very High |
| Benchmark | 65% Nifty 500 TRI + 25% Nifty Short Duration Debt Index +7.5% Domestic Price of Gold + 2.5% Domestic Price of Silver | Nifty 500 TRI |
| Launch date | 31-01-2024 | 27-08-2026 |
| Minimum investment | ₹5,000 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Harshad Borawake, Basant Bafna, Siddharth Srivastava, Ritesh Patel | Sharwan Kumar Goyal FM 1, Ayush Jain FM 2, Lokesh Kulthia FM 3 |
| Exit load | Exit Load for units in excess of 15% of the investment,1% will be charged for redemption within 180 Days. | Nil |
Mirae Asset Multi Asset Allocation vs UTI Nifty 500 Index: 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 |
|---|---|---|---|---|---|---|---|
| Mirae Asset Multi Asset Allocation Fund (Direct) | −1.13% | −2.18% | −0.61% | +4.13% | -- | -- | -- |
| UTI Nifty 500 Index Fund (Direct) | −0.77% | -- | -- | -- | -- | -- | -- |
| Multi Asset average | −1.71% | −3.33% | −1.78% | +2.00% | -- | -- | -- |
Category average: the average of the 37 Multi Asset funds, same plan type.
Mirae Asset Multi Asset Allocation vs UTI Nifty 500 Index: Year-wise Returns
| Year | Mirae Asset Multi Asset AllocationMirae Asset Multi Asset Allocation | UTI Nifty 500 IndexUTI Nifty 500 Index |
|---|---|---|
| 2026to date | +0.10% | -- |
| 2025 | +20.12% | -- |
Mirae Asset Multi Asset Allocation vs UTI Nifty 500 Index: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of UTI Nifty 500 Index Fund
Mirae Asset Multi Asset Allocation vs UTI Nifty 500 Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Mirae Asset Multi Asset Allocation Fund (Direct) | UTI Nifty 500 Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.96% | −33.99% |
| Standard deviation | 8.73% | 13.15% |
| Sharpe ratio | 0.69 | -2.99 |
| Sortino ratio | 0.95 | -3.45 |
| Maximum drawdown | −9.1% (23-03-2026) | −8.6% (23-10-2026) |
| Beta | -- | 1.00 |
| Alpha | -- | −0.23% |
From daily NAVs, 01-02-2024 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.
Mirae Asset Multi Asset Allocation Fund (Direct)
UTI Nifty 500 Index Fund (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Mirae Asset Multi Asset Allocation Fund (Direct) | −5.7% | 31-08-2026 | 23-10-2026 | Not yet | -- | −4.2% |
| UTI Nifty 500 Index Fund (Direct) | −8.6% | 31-08-2026 | 23-10-2026 | Not yet | -- | −6.6% |
| Nifty 500 TRI | −8.6% | 31-08-2026 | 23-10-2026 | Not yet | -- | −6.6% |
From daily values since 31-08-2026, the first day every fund has.
Mirae Asset Multi Asset Allocation vs UTI Nifty 500 Index: Portfolio Overlap
From each fund's latest monthly portfolio: Mirae Asset Multi Asset Allocation Fund, September 2026; UTI Nifty 500 Index Fund, September 2026
Holdings in common
- Overlap
- 45.7%
- Held by both
- 122
- Only in Mirae Asset Multi Asset Allocation
- 48
- Only in UTI Nifty 500 Index
- 374
| Security | % of Mirae Asset Multi Asset Allocation | % of UTI Nifty 500 Index |
|---|---|---|
| ICICI Bank Ltd. | 4.27% | 4.94% |
| HDFC Bank Ltd. | 4.24% | 5.67% |
| Reliance Industries Ltd. | 2.42% | 4.14% |
| Bharti Airtel Ltd. | 2.07% | 2.79% |
| State Bank of India | 2.58% | 2.07% |
| Axis Bank Ltd. | 1.99% | 1.84% |
| Mahindra & Mahindra Ltd. | 1.12% | 1.38% |
| Eternal Ltd. | 1.06% | 1.21% |
| Titan Company Ltd. | 1.15% | 0.99% |
| Bajaj Finance Ltd. | 0.97% | 1.37% |
| Larsen & Toubro Ltd. | 0.93% | 2.30% |
| Kotak Mahindra Bank Ltd. | 0.81% | 1.60% |
| Infosys Ltd. | 0.80% | 1.83% |
| Tata Steel Ltd. | 1.07% | 0.80% |
| Adani Ports and Special Economic Zone Ltd. | 0.83% | 0.74% |
| Bharat Electronics Ltd. | 0.89% | 0.73% |
| Shriram Finance Ltd. | 1.32% | 0.72% |
| Maruti Suzuki India Ltd. | 0.67% | 0.81% |
| Hindalco Industries Ltd. | 0.64% | 0.71% |
| Divi's Laboratories Ltd. | 0.66% | 0.62% |
| NTPC Ltd. | 0.58% | 0.80% |
| Tata Consultancy Services Ltd. | 0.52% | 1.09% |
| TVS Motor Company Ltd. | 1.07% | 0.50% |
| Tech Mahindra Ltd. | 0.46% | 0.51% |
| ITC Ltd. | 0.45% | 1.32% |
| Multi Commodity Exchange of India Ltd. | 0.85% | 0.44% |
| Nestle India Ltd. | 0.43% | 0.49% |
| Oil & Natural Gas Corporation Ltd. | 0.42% | 0.46% |
| Laurus Labs Ltd. | 1.13% | 0.40% |
| SBI Life Insurance Co. Ltd. | 1.01% | 0.40% |
| Sun Pharmaceutical Industries Ltd. | 0.40% | 1.00% |
| Dr. Reddy's Laboratories Ltd. | 0.44% | 0.39% |
| Ultratech Cement Ltd. | 0.38% | 0.68% |
| Torrent Pharmaceuticals Ltd. | 0.48% | 0.37% |
| Vedanta Aluminium Metal Ltd. | 0.53% | 0.36% |
| Apollo Hospitals Enterprise Ltd. | 0.35% | 0.44% |
| The Indian Hotels Company Ltd. | 0.37% | 0.33% |
| Avenue Supermarts Ltd. | 0.68% | 0.32% |
| Bharat Petroleum Corporation Ltd. | 0.54% | 0.32% |
| Varun Beverages Ltd. | 0.59% | 0.31% |
| Eicher Motors Ltd. | 0.30% | 0.51% |
| AU Small Finance Bank Ltd. | 0.29% | 0.31% |
| BSE Ltd. | 0.27% | 0.66% |
| Indus Towers Ltd. | 0.34% | 0.25% |
| GAIL (India) Ltd. | 0.25% | 0.24% |
| Grasim Industries Ltd. | 0.23% | 0.60% |
| Tata Motors Passenger Vehicles Ltd. | 0.23% | 0.31% |
| One 97 Communications Ltd. | 0.23% | 0.38% |
| Coal India Ltd. | 0.22% | 0.53% |
| Hindustan Aeronautics Ltd. | 0.21% | 0.46% |
| Canara Bank | 0.21% | 0.21% |
| The Federal Bank Ltd. | 0.21% | 0.41% |
| Adani Energy Solutions Ltd. | 0.20% | 0.22% |
| Britannia Industries Ltd. | 0.20% | 0.30% |
| Power Finance Corporation Ltd. | 0.20% | 0.25% |
| Sona Blw Precision Forgings Ltd. | 0.72% | 0.19% |
| Interglobe Aviation Ltd. | 0.19% | 0.59% |
| Bajaj Finserv Ltd. | 0.18% | 0.53% |
| Godrej Consumer Products Ltd. | 0.38% | 0.18% |
| Glenmark Pharmaceuticals Ltd. | 0.21% | 0.18% |
| Radico Khaitan Ltd. | 0.18% | 0.18% |
| IDFC First Bank Ltd. | 0.17% | 0.28% |
| JSW Energy Ltd. | 0.91% | 0.16% |
| Adani Green Energy Ltd. | 0.16% | 0.22% |
| Vishal Mega Mart Ltd. | 0.42% | 0.15% |
| Siemens Energy India Ltd. | 0.28% | 0.15% |
| Mphasis Ltd. | 0.22% | 0.15% |
| Bank of Baroda | 0.14% | 0.22% |
| Ashok Leyland Ltd. | 0.14% | 0.23% |
| Power Grid Corporation of India Ltd. | 0.14% | 0.62% |
| RBL Bank Ltd. | 0.14% | 0.13% |
| Central Depository Services (I) Ltd. | 0.54% | 0.12% |
| Ambuja Cements Ltd. | 0.50% | 0.12% |
| Sai Life Sciences Ltd. | 0.42% | 0.11% |
| Meesho Ltd. | 0.37% | 0.11% |
| Kalyan Jewellers India Ltd. | 0.21% | 0.11% |
| JSW Infrastructure Ltd. | 0.20% | 0.11% |
| DLF Ltd. | 0.10% | 0.23% |
| Kirloskar Oil Engines Ltd. | 0.41% | 0.10% |
| Krishna Institute of Medical Sciences Ltd. | 0.35% | 0.10% |
| Tube Investments of India Ltd. | 0.09% | 0.13% |
| TD Power Systems Ltd. | 1.18% | 0.09% |
| LG Electronics India Ltd. | 0.76% | 0.09% |
| Manappuram Finance Ltd. | 0.17% | 0.09% |
| HDFC Asset Management Co. Ltd. | 0.09% | 0.24% |
| Vedanta Ltd. | 0.08% | 0.24% |
| Schaeffler India Ltd. | 0.51% | 0.08% |
| Craftsman Automation Ltd. | 0.48% | 0.08% |
| Dr. Lal Path labs Ltd. | 0.48% | 0.08% |
| LIC Housing Finance Ltd. | 0.12% | 0.08% |
| Container Corporation of India Ltd. | 0.09% | 0.08% |
| Crompton Greaves Consumer Electricals Ltd. | 0.24% | 0.07% |
| Punjab National Bank | 0.06% | 0.20% |
| Kfin Technologies Ltd. | 0.59% | 0.06% |
| Onesource Specialty Pharma Ltd. | 0.51% | 0.06% |
| Jio Financial Services Ltd. | 0.06% | 0.37% |
| Pidilite Industries Ltd. | 0.05% | 0.24% |
| Pine Labs Ltd. | 0.51% | 0.05% |
| Deepak Nitrite Ltd. | 0.24% | 0.05% |
| Atul Ltd. | 0.12% | 0.05% |
| Bharat Heavy Electricals Ltd. | 0.05% | 0.32% |
| PNB Housing Finance Ltd. | 0.05% | 0.11% |
| Hero MotoCorp Ltd. | 0.05% | 0.35% |
| Motilal Oswal Financial Services Ltd. | 0.04% | 0.08% |
| UPL Ltd. | 0.04% | 0.16% |
| Suzlon Energy Ltd. | 0.04% | 0.25% |
| United Spirits Ltd. | 0.04% | 0.21% |
| Asian Paints Ltd. | 0.04% | 0.57% |
| Tata Power Company Ltd. | 0.03% | 0.31% |
| Muthoot Finance Ltd. | 0.03% | 0.15% |
| Computer Age Management Services Ltd. | 0.03% | 0.08% |
| Dabur India Ltd. | 0.03% | 0.12% |
| Jindal Steel Ltd. | 0.03% | 0.22% |
| FSN E-Commerce Ventures Ltd. | 0.02% | 0.23% |
| Union Bank of India | 0.02% | 0.17% |
| Bank of India | 0.02% | 0.08% |
| Zydus Lifesciences Ltd. | 0.02% | 0.15% |
| International Gemological Institute Ltd. | 0.23% | 0.02% |
| Zensar Technologies Ltd. | 0.11% | 0.02% |
| National Aluminium Company Ltd. | 0.01% | 0.16% |
| Hitachi Energy India Ltd. | 0.00% | 0.20% |
| Aurobindo Pharma Ltd. | 0.00% | 0.24% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 45.7% means 45.7% 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 Mirae Asset Multi Asset Allocation Fund
| Security | % of fund |
|---|---|
| Mirae Asset Gold ETF | 11.74% |
| 6.79% Government of India (MD 07/10/2034) | 1.88% |
| Mirae Asset Silver ETF | 1.59% |
| 7.47% Reliance Industries Ltd. (MD 16/09/2031) | 1.38% |
| 7.45% Torrent Pharmaceuticals Ltd. (MD 19/01/2028) | 1.38% |
Largest holdings only in UTI Nifty 500 Index Fund
| Security | % of fund |
|---|---|
| EQ - HINDUSTAN UNILEVER LTD | 0.87% |
| EQ - HCL TECHNOLOGIES LTD. | 0.68% |
| EQ - JSW STEEL LTD. | 0.63% |
| EQ - BAJAJ AUTO LTD. | 0.62% |
| EQ - ADANI ENTERPRISES LTD. | 0.51% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Mirae Asset Multi Asset Allocation | UTI Nifty 500 Index |
|---|---|---|
| Equity | 66.4% | 99.6% |
| Debt | 16.6% | 0.0% |
| Cash and others | 17.0% | 0.4% |
Market cap of stocks
| Market cap | Mirae Asset Multi Asset Allocation | UTI Nifty 500 Index |
|---|---|---|
| Large Cap | 44.6% | 67.3% |
| Mid Cap | 9.3% | 20.9% |
| Small Cap | 9.4% | 11.3% |
| Not on AMFI's list | 3.1% | 0.1% |
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 | Mirae Asset Multi Asset Allocation | UTI Nifty 500 Index |
|---|---|---|
| Banks | 15.1% | 19.3% |
| Finance | 3.1% | 6.5% |
| Pharmaceuticals & Biotechnology | 4.9% | 5.8% |
| IT - Software | 2.1% | 5.7% |
| Petroleum Products | 3.0% | 5.0% |
| Automobiles | 3.4% | 4.9% |
| Consumer Durables | 3.6% | 2.8% |
The six largest sectors of each fund's stocks, % of the fund.
Mirae Asset Multi Asset Allocation vs UTI Nifty 500 Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Mirae Asset Multi Asset Allocation Fund | UTI Nifty 500 Index Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.65% | 1.85% |
| Base expense ratio (Direct) | 0.36% | 0.13% |
| Total expense ratio (Regular) | 2.15% | 2.56% |
| Base expense ratio (Regular) | 1.63% | 0.73% |
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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Mirae Asset Multi Asset Allocation Fund vs UTI Nifty 500 Index Fund: Frequently Asked Questions
What is the difference between Mirae Asset Multi Asset Allocation Fund and UTI Nifty 500 Index Fund?
Mirae Asset Multi Asset Allocation Fund is a Multi Asset fund, UTI Nifty 500 Index Fund is an Index fund, run by Mirae Asset Mutual Fund and UTI Mutual Fund. Their portfolios overlap 45.7%. Mirae Asset Multi Asset Allocation Fund charges 0.65% a year and UTI Nifty 500 Index Fund 1.85%.
Which has the lower expense ratio, Mirae Asset Multi Asset Allocation Fund or UTI Nifty 500 Index Fund?
Mirae Asset Multi Asset Allocation Fund charges less: 0.65% a year against 1.85%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Mirae Asset Multi Asset Allocation Fund and UTI Nifty 500 Index Fund overlap?
45.7%. They hold 122 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, RELIANCE. From each fund's latest monthly portfolio.
Which is riskier, Mirae Asset Multi Asset Allocation Fund or UTI Nifty 500 Index Fund?
On SEBI's riskometer, Mirae Asset Multi Asset Allocation Fund is rated Very High and UTI Nifty 500 Index Fund Very High. Over their common history, the standard deviation of daily returns was 8.73% and 13.15% a year.
Can I invest in both Mirae Asset Multi Asset Allocation Fund and UTI Nifty 500 Index Fund?
Yes. 45.7% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Mirae Asset Multi Asset Allocation Fund and UTI Nifty 500 Index Fund?
Mirae Asset Multi Asset Allocation Fund: Harshad Borawake, Basant Bafna, Siddharth Srivastava, Ritesh Patel. UTI Nifty 500 Index Fund: Sharwan Kumar Goyal FM 1, Ayush Jain FM 2, Lokesh Kulthia FM 3.
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.