Nippon India Large Cap Fund vs Nippon India Multi Asset Allocation Fund
Direct Plan, Growth option · Data as on 30-10-2026
Nippon India Large Cap Fund is a Large Cap fund and Nippon India Multi Asset Allocation Fund is a Multi Asset fund. In the 3 years to 30-10-2026, Nippon India Large Cap Fund (Direct) returned 11.0% a year and Nippon India Multi Asset Allocation Fund (Direct) returned 18.0% a year. Nippon India Large Cap Fund charges 0.86% a year and Nippon India Multi Asset Allocation Fund 0.48% (Direct plans). Their portfolios overlap 35.5%: they hold 38 of the same securities.
Nippon India Large Cap Fund
Large Cap
- 3 year return
- 11.0%
- Expense ratio
- 0.86%
- NAV
- ₹96.04
Nippon India Multi Asset Allocation Fund
Multi Asset
- 3 year return
- 18.0%
- Expense ratio
- 0.48%
- NAV
- ₹25.81
Which is better, Nippon India Large Cap or Nippon India 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.
- Nippon India Multi Asset Allocation returned more over 5 years: 13.8% a year against 12.0%.
- Nippon India Multi Asset Allocation returned more over 3 years: 18.0% a year against 11.0%.
- Nippon India Multi Asset Allocation costs less: 0.48% a year against 0.86% (Direct plans).
- Nippon India Multi Asset Allocation swung less over 3 years: a standard deviation of 10.0% a year against 13.5%.
- Nippon India Multi Asset Allocation fell less in its worst fall since 31-08-2020: −10.8% against −15.4%.
- Nippon India Multi Asset Allocation holds 4.5% of the fund in foreign stocks; Nippon India Large Cap 0.0%.
- Nippon India Large Cap holds more in large companies: 81.3% of the fund in large caps against 40.1%.
- Nippon India Large Cap is the larger fund: ₹51,296 Cr against ₹18,044 Cr.
- Their portfolios overlap 35.5%: 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 | Nippon India Large Cap Fund | Nippon India Multi Asset Allocation Fund |
|---|---|---|
| Fund house | Nippon India Mutual Fund | Nippon India Mutual Fund |
| Category | Large Cap | Multi Asset |
| AUM | ₹51,296 Cr (30-09-2026) | ₹18,044 Cr (30-09-2026) |
| NAV | ₹96.04 (Direct) | ₹25.81 (Direct) |
| Expense ratio (Direct) | 0.86% | 0.48% |
| Expense ratio (Regular) | 1.61% | 1.44% |
| Riskometer | Very High | Not available |
| Benchmark | BSE 100 TRI | Not available |
| Launch date | 08-08-2007 | Not available |
| Minimum investment | ₹100 | Not available |
| Lock in | None | Not available |
| Fund managers | Sailesh Raj Bhan, Bhavik Dave | Not available |
| Exit load | Exit load of 1% if redeemed within 7 days. | Not available |
Nippon India Large Cap vs Nippon India 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 |
|---|---|---|---|---|---|---|---|
| Nippon India Large Cap Fund (Direct) | +0.44% | −5.43% | −3.53% | −8.74% | +11.01% | +11.98% | +13.73% |
| Nippon India Multi Asset Allocation Fund (Direct) | −2.06% | −3.53% | −1.74% | +3.05% | +17.96% | +13.83% | -- |
| Large Cap average | +0.62% | −4.36% | −1.05% | −6.33% | +10.38% | +8.23% | +11.81% |
| Multi Asset average | −1.71% | −3.33% | −1.78% | +2.00% | +14.20% | +12.56% | -- |
Category average: the average of the 35 Large Cap funds and the 37 Multi Asset funds, same plan type.
Nippon India Large Cap vs Nippon India Multi Asset Allocation: Year-wise Returns
| Year | Large CapNippon India Large Cap | Multi Asset AllocationNippon India Multi Asset Allocation |
|---|---|---|
| 2026to date | −8.83% | +0.43% |
| 2025 | +10.08% | +20.96% |
| 2024 | +19.30% | +20.14% |
| 2023 | +33.23% | +25.92% |
| 2022 | +12.30% | +4.63% |
| 2021 | +33.42% | +21.10% |
Nippon India Large Cap vs Nippon India Multi Asset Allocation: Rolling Returns
Every holding period of both funds, against BSE 100 TRI, the benchmark of Nippon India Large Cap Fund
Rolling returns
Every 3-year holding period, 777 of them, one for each trading day from 31-08-2023 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.
Nippon India Large Cap Fund (Direct)
Nippon India Multi Asset Allocation Fund (Direct)
BSE 100 TRI
to
Dec 2023Jun 2021
to
Jun 2024Dec 2021
to
Dec 2024Jul 2022
to
Jul 2025Jan 2023
to
Jan 2026Jul 2023
to
Jul 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Nippon India Large Cap | 0.0 | 0.0 | 2.1 | 10.7 | 23.3 | 39.8 | 24.2 | 21.3% | 21.1% | 9.1% | 31.9% | 100% |
| Nippon India Multi Asset Allocation | 0.0 | 0.0 | 0.0 | 0.9 | 63.9 | 35.2 | 0.0 | 19.0% | 18.6% | 14.0% | 24.5% | 84% |
| BSE 100 TRI | 0.0 | 0.0 | 5.5 | 39.8 | 48.3 | 6.4 | 0.0 | 15.3% | 15.5% | 7.0% | 23.4% | -- |
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 BSE 100 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 31-08-2020. Past returns do not promise future returns.
Nippon India Large Cap vs Nippon India 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 03-08-2020 to 30-10-2026: 75 instalments, ₹7,50,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Nippon India Large CapNippon India Large Cap Fund (Direct) | ₹7,50,000 | ₹11,11,132 | ₹3,61,132 | 12.4% |
| Nippon India Multi Asset AllocationNippon India Multi Asset Allocation Fund (Direct) | ₹7,50,000 | ₹12,08,978 | ₹4,58,978 | 15.2% |
Nippon India Large CapNippon India Large Cap Fund (Direct)
Nippon India Multi Asset AllocationNippon India 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.
Nippon India Large Cap vs Nippon India Multi Asset Allocation: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Nippon India Large Cap Fund (Direct) | Nippon India Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | −8.74% | +3.05% |
| Standard deviation | 13.74% | 11.30% |
| Sharpe ratio | -1.02 | -0.19 |
| Sortino ratio | -1.35 | -0.26 |
| Maximum drawdown | −13.8% (31-03-2026) | −10.8% (23-03-2026) |
| Beta | 0.98 | -- |
| Alpha | −0.13% | -- |
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 | Nippon India Large Cap Fund (Direct) | Nippon India Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.01% | +17.96% |
| Standard deviation | 13.49% | 10.00% |
| Sharpe ratio | 0.37 | 1.19 |
| Sortino ratio | 0.50 | 1.63 |
| Maximum drawdown | −15.4% (28-02-2025) | −10.8% (23-03-2026) |
| Beta | 0.98 | -- |
| Alpha | +2.10% | -- |
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 | Nippon India Large Cap Fund (Direct) | Nippon India Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.98% | +13.83% |
| Standard deviation | 13.92% | 9.50% |
| Sharpe ratio | 0.44 | 0.85 |
| Sortino ratio | 0.61 | 1.16 |
| Maximum drawdown | −15.4% (28-02-2025) | −10.8% (23-03-2026) |
| Beta | 0.98 | -- |
| Alpha | +4.22% | -- |
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 | Nippon India Large Cap Fund (Direct) | Nippon India Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +14.54% | +16.79% |
| Standard deviation | 16.37% | 9.40% |
| Sharpe ratio | 0.52 | 1.22 |
| Sortino ratio | 0.71 | 1.70 |
| Maximum drawdown | −40.0% (23-03-2020) | −10.8% (23-03-2026) |
| Beta | 0.99 | -- |
| Alpha | +2.50% | -- |
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.
Nippon India Large Cap Fund (Direct)
Nippon India Multi Asset Allocation Fund (Direct)
BSE 100 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Nippon India Large Cap Fund (Direct) | −15.4% | 27-09-2024 | 28-02-2025 | 21-08-2025 | 6 months | −9.5% |
| Nippon India Multi Asset Allocation Fund (Direct) | −10.8% | 29-01-2026 | 23-03-2026 | 06-08-2026 | 4 months | −7.0% |
| BSE 100 TRI | −16.7% | 26-09-2024 | 28-02-2025 | 20-11-2025 | 9 months | −10.4% |
From daily values since 31-08-2020, 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.
Nippon India Large Cap Fund (Direct)
Nippon India Multi Asset Allocation Fund (Direct)
BSE 100 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.
Nippon India Large Cap Fund (Direct)
Nippon India Multi Asset Allocation Fund (Direct)
BSE 100 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.
Nippon India Large Cap Fund (Direct)
Nippon India Multi Asset Allocation Fund (Direct)
BSE 100 TRI
Against BSE 100 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Nippon India Large Cap Fund (Direct) | 108% | 88% | 4.03% |
| Nippon India Multi Asset Allocation Fund (Direct) | 75% | 36% | 7.62% |
From month-end values since 31-08-2020. 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.
Nippon India Large Cap vs Nippon India Multi Asset Allocation: Portfolio Overlap
From each fund's latest monthly portfolio: Nippon India Large Cap Fund, September 2026; Nippon India Multi Asset Allocation Fund, September 2026
Holdings in common
- Overlap
- 35.5%
- Held by both
- 38
- Only in Nippon India Large Cap
- 31
- Only in Nippon India Multi Asset Allocation
- 125
| Security | % of Nippon India Large Cap | % of Nippon India Multi Asset Allocation |
|---|---|---|
| ICICI Bank Limited | 6.09% | 3.44% |
| HDFC Bank Limited | 9.61% | 3.25% |
| Axis Bank Limited | 5.26% | 2.42% |
| State Bank of India | 2.82% | 1.69% |
| Eternal Limited | 1.88% | 1.65% |
| Reliance Industries Limited | 3.92% | 1.49% |
| Mahindra & Mahindra Limited | 2.49% | 1.44% |
| Infosys Limited | 3.36% | 1.35% |
| Hindustan Unilever Limited | 2.74% | 1.33% |
| HDFC Life Insurance Company Limited | 1.32% | 1.27% |
| Trent Limited | 1.25% | 1.24% |
| Kotak Mahindra Bank Limited | 2.03% | 1.16% |
| NTPC Limited | 1.89% | 1.14% |
| Avenue Supermarts Limited | 2.46% | 1.01% |
| Bajaj Auto Limited | 1.01% | 0.97% |
| Swiggy Limited | 1.11% | 0.81% |
| Jubilant Foodworks Limited | 0.76% | 0.76% |
| Sun Pharmaceutical Industries Limited | 2.18% | 0.75% |
| Hindustan Aeronautics Limited | 0.69% | 1.35% |
| Siemens Energy India Limited | 0.65% | 0.67% |
| Tata Consumer Products Limited | 0.84% | 0.60% |
| Vedanta Aluminium Metal Limited | 0.64% | 0.53% |
| Bharti Airtel Limited | 0.51% | 0.61% |
| Varun Beverages Limited | 0.50% | 1.05% |
| ITC Limited | 2.56% | 0.49% |
| Godrej Consumer Products Limited | 0.88% | 0.47% |
| GE Vernova T&D India Limited | 1.54% | 0.41% |
| Bajaj Finance Limited | 3.09% | 0.40% |
| Devyani International Limited | 0.40% | 0.65% |
| Tech Mahindra Limited | 0.86% | 0.37% |
| Samvardhana Motherson International Limited | 2.02% | 0.35% |
| Mankind Pharma Limited | 1.04% | 0.35% |
| United Spirits Limited | 0.65% | 0.34% |
| Life Insurance Corporation Of India | 0.33% | 0.98% |
| NTPC Green Energy Limited | 0.69% | 0.31% |
| Max Financial Services Limited | 0.26% | 0.68% |
| PB Fintech Limited | 0.47% | 0.24% |
| SBI Funds Management Limited | 0.09% | 0.18% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 35.5% means 35.5% 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 Nippon India Large Cap Fund
| Security | % of fund |
|---|---|
| Larsen & Toubro Limited | 3.63% |
| Tata Consultancy Services Limited | 3.12% |
| Divi's Laboratories Limited | 1.45% |
| Tata Power Company Limited | 1.41% |
| SBI Life Insurance Company Limited | 1.11% |
Largest holdings only in Nippon India Multi Asset Allocation Fund
| Security | % of fund |
|---|---|
| Nippon India ETF Gold Bees | 7.94% |
| Nippon India Silver ETF | 2.70% |
| Info Edge (India) Limited | 1.42% |
| HDFC Asset Management Company Limited | 1.23% |
| 364 Days Tbill | 1.10% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Nippon India Large Cap | Nippon India Multi Asset Allocation |
|---|---|---|
| Equity | 99.7% | 62.0% |
| Debt | 0.0% | 18.6% |
| Cash and others | 0.3% | 19.3% |
Market cap of stocks
| Market cap | Nippon India Large Cap | Nippon India Multi Asset Allocation |
|---|---|---|
| Large Cap | 81.3% | 40.1% |
| Mid Cap | 14.7% | 10.3% |
| Small Cap | 3.3% | 7.0% |
| Foreign stocks | 0.0% | 4.5% |
| Not on AMFI's list | 0.4% | 0.2% |
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 | Nippon India Large Cap | Nippon India Multi Asset Allocation |
|---|---|---|
| Banks | 26.1% | 12.3% |
| Retailing | 8.3% | 6.6% |
| IT - Software | 8.3% | 2.2% |
| Pharmaceuticals & Biotechnology | 7.5% | 1.7% |
| Diversified FMCG | 5.3% | 1.8% |
| Other | 0.0% | 4.5% |
| Finance | 4.5% | 3.1% |
| Automobiles | 4.4% | 3.0% |
| Consumer Durables | 0.8% | 3.0% |
The six largest sectors of each fund's stocks, % of the fund.
Nippon India Large Cap vs Nippon India Multi Asset Allocation: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Nippon India Large Cap Fund | Nippon India Multi Asset Allocation Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.86% | 0.48% |
| Base expense ratio (Direct) | 0.59% | 0.30% |
| Total expense ratio (Regular) | 1.61% | 1.44% |
| Base expense ratio (Regular) | 1.23% | 1.14% |
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 Nippon India Large Cap with
Compare Nippon India Multi Asset Allocation with
Nippon India Large Cap Fund vs Nippon India Multi Asset Allocation Fund: Frequently Asked Questions
What is the difference between Nippon India Large Cap Fund and Nippon India Multi Asset Allocation Fund?
Nippon India Large Cap Fund is a Large Cap fund, Nippon India Multi Asset Allocation Fund is a Multi Asset fund, run by Nippon India Mutual Fund. Their portfolios overlap 35.5%. Nippon India Large Cap Fund charges 0.86% a year and Nippon India Multi Asset Allocation Fund 0.48%.
Which has given higher returns, Nippon India Large Cap Fund or Nippon India Multi Asset Allocation Fund?
Over 1 year: Nippon India Large Cap Fund −8.74%, Nippon India Multi Asset Allocation Fund +3.05%. Over 3 years: Nippon India Large Cap Fund +11.01% a year, Nippon India Multi Asset Allocation Fund +17.96% a year. Over 5 years: Nippon India Large Cap Fund +11.98% a year, Nippon India Multi Asset Allocation Fund +13.83% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Nippon India Large Cap Fund or Nippon India Multi Asset Allocation Fund?
Nippon India Multi Asset Allocation Fund charges less: 0.48% a year against 0.86%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Nippon India Large Cap Fund and Nippon India Multi Asset Allocation Fund overlap?
35.5%. They hold 38 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, AXISBANK. From each fund's latest monthly portfolio.
Which is better for SIP, Nippon India Large Cap Fund or Nippon India Multi Asset Allocation Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,76,189 in Nippon India Large Cap Fund (XIRR 9.4% a year) and ₹8,84,142 in Nippon India Multi Asset Allocation Fund (XIRR 14.6% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Nippon India Large Cap Fund and Nippon India Multi Asset Allocation Fund?
Yes. 35.5% of each fund's money sits in the same holdings, so some of the two investments would move together.
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.