Nippon India Multi Asset Allocation Fund vs UTI Nifty 500 Index Fund
Direct Plan, Growth option · Data as on 29-10-2026
Nippon India Multi Asset Allocation Fund is a Multi Asset fund and UTI Nifty 500 Index Fund is an Index fund. Nippon India Multi Asset Allocation Fund charges 0.48% a year and UTI Nifty 500 Index Fund 1.85% (Direct plans). Their portfolios overlap 34.8%: they hold 79 of the same securities.
Nippon India Multi Asset Allocation Fund
Multi Asset
- Expense ratio
- 0.48%
- NAV
- ₹25.81
Which is better, Nippon India 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.
- Nippon India Multi Asset Allocation costs less: 0.48% a year against 1.85% (Direct plans).
- Nippon India Multi Asset Allocation fell less in its worst fall since 31-08-2026: −7.1% against −8.6%.
- Nippon India Multi Asset Allocation holds 4.5% of the fund in foreign stocks; UTI Nifty 500 Index 0.0%.
- UTI Nifty 500 Index holds more in large companies: 67.3% of the fund in large caps against 40.1%.
- Nippon India Multi Asset Allocation is the larger fund: ₹18,044 Cr against ₹102 Cr.
- Their portfolios overlap 34.8%: 79 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 Multi Asset Allocation Fund | UTI Nifty 500 Index Fund |
|---|---|---|
| Fund house | Nippon India Mutual Fund | UTI Mutual Fund |
| Category | Multi Asset | Index |
| AUM | ₹18,044 Cr (30-09-2026) | ₹102 Cr (30-09-2026) |
| NAV | ₹25.81 (Direct) | ₹9.31 (Direct) |
| Expense ratio (Direct) | 0.48% | 1.85% |
| Expense ratio (Regular) | 1.44% | 2.56% |
| Riskometer | Not available | Very High |
| Benchmark | Not available | Nifty 500 TRI |
| Launch date | Not available | 27-08-2026 |
| Minimum investment | Not available | ₹1,000 |
| Lock in | Not available | None |
| Fund managers | Not available | Sharwan Kumar Goyal FM 1, Ayush Jain FM 2, Lokesh Kulthia FM 3 |
| Exit load | Not available | Nil |
Nippon India 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 |
|---|---|---|---|---|---|---|---|
| Nippon India Multi Asset Allocation Fund (Direct) | −2.06% | −3.53% | −1.74% | +3.05% | +17.96% | +13.83% | -- |
| UTI Nifty 500 Index Fund (Direct) | −0.77% | -- | -- | -- | -- | -- | -- |
| Multi Asset average | −1.71% | −3.33% | −1.78% | +2.00% | +14.20% | +12.56% | -- |
Category average: the average of the 37 Multi Asset funds, same plan type.
Nippon India Multi Asset Allocation vs UTI Nifty 500 Index: Year-wise Returns
| Year | Nippon India Multi Asset AllocationNippon India Multi Asset Allocation | UTI Nifty 500 IndexUTI Nifty 500 Index |
|---|---|---|
| 2026to date | +0.43% | -- |
| 2025 | +20.96% | -- |
| 2024 | +20.14% | -- |
| 2023 | +25.92% | -- |
| 2022 | +4.63% | -- |
| 2021 | +21.10% | -- |
Nippon India 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
Nippon India 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 | Nippon India Multi Asset Allocation Fund (Direct) | UTI Nifty 500 Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +16.79% | −33.99% |
| Standard deviation | 9.40% | 13.15% |
| Sharpe ratio | 1.22 | -2.99 |
| Sortino ratio | 1.70 | -3.45 |
| Maximum drawdown | −10.8% (23-03-2026) | −8.6% (23-10-2026) |
| Beta | -- | 1.00 |
| Alpha | -- | −0.23% |
From daily NAVs, 31-08-2020 to 29-10-2026. 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 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 |
|---|---|---|---|---|---|---|
| Nippon India Multi Asset Allocation Fund (Direct) | −7.1% | 31-08-2026 | 23-10-2026 | Not yet | -- | −5.9% |
| 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.
Nippon India Multi Asset Allocation vs UTI Nifty 500 Index: Portfolio Overlap
From each fund's latest monthly portfolio: Nippon India Multi Asset Allocation Fund, September 2026; UTI Nifty 500 Index Fund, September 2026
Holdings in common
- Overlap
- 34.8%
- Held by both
- 79
- Only in Nippon India Multi Asset Allocation
- 84
- Only in UTI Nifty 500 Index
- 417
| Security | % of Nippon India Multi Asset Allocation | % of UTI Nifty 500 Index |
|---|---|---|
| ICICI Bank Limited | 3.44% | 4.94% |
| HDFC Bank Limited | 3.25% | 5.67% |
| Axis Bank Limited | 2.42% | 1.84% |
| State Bank of India | 1.69% | 2.07% |
| Reliance Industries Limited | 1.49% | 4.14% |
| Mahindra & Mahindra Limited | 1.44% | 1.38% |
| Infosys Limited | 1.35% | 1.83% |
| Eternal Limited | 1.65% | 1.21% |
| Kotak Mahindra Bank Limited | 1.16% | 1.60% |
| Hindustan Unilever Limited | 1.33% | 0.87% |
| Titan Company Limited | 0.81% | 0.99% |
| NTPC Limited | 1.14% | 0.80% |
| Sun Pharmaceutical Industries Limited | 0.75% | 1.00% |
| Bajaj Auto Limited | 0.97% | 0.62% |
| Bharti Airtel Limited | 0.61% | 2.79% |
| Bajaj Finserv Limited | 0.60% | 0.53% |
| Shriram Finance Limited | 0.53% | 0.72% |
| ITC Limited | 0.49% | 1.32% |
| Hindustan Aeronautics Limited | 1.35% | 0.46% |
| Trent Limited | 1.24% | 0.46% |
| Oil & Natural Gas Corporation Limited | 0.81% | 0.46% |
| InterGlobe Aviation Limited | 0.43% | 0.59% |
| Bajaj Finance Limited | 0.40% | 1.37% |
| Tech Mahindra Limited | 0.37% | 0.51% |
| Vedanta Aluminium Metal Limited | 0.53% | 0.36% |
| Samvardhana Motherson International Limited | 0.35% | 0.38% |
| Avenue Supermarts Limited | 1.01% | 0.32% |
| Tata Consumer Products Limited | 0.60% | 0.32% |
| Coforge Limited | 0.34% | 0.32% |
| Varun Beverages Limited | 1.05% | 0.31% |
| Grasim Industries Limited | 0.31% | 0.60% |
| Apollo Hospitals Enterprise Limited | 0.31% | 0.44% |
| HDFC Life Insurance Company Limited | 1.27% | 0.29% |
| GE Vernova T&D India Limited | 0.41% | 0.27% |
| Life Insurance Corporation Of India | 0.98% | 0.26% |
| Info Edge (India) Limited | 1.42% | 0.25% |
| Power Finance Corporation Limited | 0.33% | 0.25% |
| HDFC Asset Management Company Limited | 1.23% | 0.24% |
| Vedanta Limited | 0.26% | 0.24% |
| FSN E-Commerce Ventures Limited | 0.32% | 0.23% |
| Britannia Industries Limited | 0.23% | 0.30% |
| Jindal Steel Limited | 0.47% | 0.22% |
| United Spirits Limited | 0.34% | 0.21% |
| Swiggy Limited | 0.81% | 0.20% |
| PB Fintech Limited | 0.24% | 0.20% |
| UltraTech Cement Limited | 0.20% | 0.68% |
| Max Financial Services Limited | 0.68% | 0.19% |
| Godrej Consumer Products Limited | 0.47% | 0.18% |
| Hindustan Petroleum Corporation Limited | 0.20% | 0.18% |
| SRF Limited | 0.17% | 0.19% |
| Siemens Energy India Limited | 0.67% | 0.15% |
| Hyundai Motor India Ltd | 0.59% | 0.15% |
| Mankind Pharma Limited | 0.35% | 0.15% |
| Persistent Systems Limited | 0.15% | 0.30% |
| DLF Limited | 0.15% | 0.23% |
| Alkem Laboratories Limited | 0.15% | 0.16% |
| Piramal Finance Limited | 0.48% | 0.14% |
| Tube Investments of India Limited | 0.56% | 0.13% |
| RBL Bank Limited | 0.37% | 0.13% |
| Delhivery Limited | 0.23% | 0.13% |
| Prestige Estates Projects Limited | 0.15% | 0.13% |
| L&T Finance Limited | 0.26% | 0.12% |
| Sai Life Sciences Limited | 0.27% | 0.11% |
| Kirloskar Oil Engines Limited | 0.38% | 0.10% |
| LG Electronics India Ltd | 0.96% | 0.09% |
| Jubilant Foodworks Limited | 0.76% | 0.09% |
| Balkrishna Industries Limited | 0.48% | 0.09% |
| Mazagon Dock Shipbuilders Limited | 0.17% | 0.08% |
| Cholamandalam Financial Holdings Limited | 0.54% | 0.07% |
| ZF Commercial Vehicle Control Systems India Limited | 0.39% | 0.06% |
| KFin Technologies Limited | 0.28% | 0.06% |
| Kaynes Technology India Limited | 0.21% | 0.06% |
| Global Health Limited | 0.18% | 0.06% |
| Bharat Dynamics Limited | 0.48% | 0.05% |
| NTPC Green Energy Limited | 0.31% | 0.05% |
| Acme Solar Holdings Ltd | 0.31% | 0.05% |
| NLC India Limited | 0.17% | 0.05% |
| Devyani International Limited | 0.65% | 0.03% |
| TBO Tek Limited | 0.28% | 0.03% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 34.8% means 34.8% 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 Nippon India Multi Asset Allocation Fund
| Security | % of fund |
|---|---|
| Nippon India ETF Gold Bees | 7.94% |
| Nippon India Silver ETF | 2.70% |
| 364 Days Tbill | 1.10% |
| 182 Days Tbill | 0.96% |
| Muthoot Finance Limited | 0.89% |
Largest holdings only in UTI Nifty 500 Index Fund
| Security | % of fund |
|---|---|
| EQ - LARSEN & TOUBRO LTD. | 2.30% |
| EQ - TATA CONSULTANCY SERVICES LTD. | 1.09% |
| EQ - MARUTI SUZUKI INDIA LTD. | 0.81% |
| EQ - TATA STEEL LTD. | 0.80% |
| EQ - ADANI PORTS AND SPECIAL ECONO | 0.74% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Nippon India Multi Asset Allocation | UTI Nifty 500 Index |
|---|---|---|
| Equity | 62.0% | 99.6% |
| Debt | 18.6% | 0.0% |
| Cash and others | 19.3% | 0.4% |
Market cap of stocks
| Market cap | Nippon India Multi Asset Allocation | UTI Nifty 500 Index |
|---|---|---|
| Large Cap | 40.1% | 67.3% |
| Mid Cap | 10.3% | 20.9% |
| Small Cap | 7.0% | 11.3% |
| Foreign stocks | 4.5% | 0.0% |
| Not on AMFI's list | 0.2% | 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 | Nippon India Multi Asset Allocation | UTI Nifty 500 Index |
|---|---|---|
| Banks | 12.3% | 19.3% |
| Retailing | 6.6% | 3.3% |
| Finance | 3.1% | 6.5% |
| Pharmaceuticals & Biotechnology | 1.7% | 5.8% |
| IT - Software | 2.2% | 5.7% |
| Petroleum Products | 1.7% | 5.0% |
| Automobiles | 3.0% | 4.9% |
| Other | 4.5% | 0.0% |
| Consumer Durables | 3.0% | 2.8% |
The six largest sectors of each fund's stocks, % of the fund.
Nippon India Multi Asset Allocation vs UTI Nifty 500 Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Nippon India Multi Asset Allocation Fund | UTI Nifty 500 Index Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.48% | 1.85% |
| Base expense ratio (Direct) | 0.30% | 0.13% |
| Total expense ratio (Regular) | 1.44% | 2.56% |
| Base expense ratio (Regular) | 1.14% | 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
Compare Nippon India Multi Asset Allocation with
Nippon India Multi Asset Allocation Fund vs UTI Nifty 500 Index Fund: Frequently Asked Questions
What is the difference between Nippon India Multi Asset Allocation Fund and UTI Nifty 500 Index Fund?
Nippon India Multi Asset Allocation Fund is a Multi Asset fund, UTI Nifty 500 Index Fund is an Index fund, run by Nippon India Mutual Fund and UTI Mutual Fund. Their portfolios overlap 34.8%. Nippon India Multi Asset Allocation Fund charges 0.48% a year and UTI Nifty 500 Index Fund 1.85%.
Which has the lower expense ratio, Nippon India Multi Asset Allocation Fund or UTI Nifty 500 Index Fund?
Nippon India Multi Asset Allocation Fund charges less: 0.48% a year against 1.85%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Nippon India Multi Asset Allocation Fund and UTI Nifty 500 Index Fund overlap?
34.8%. They hold 79 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, AXISBANK. From each fund's latest monthly portfolio.
Can I invest in both Nippon India Multi Asset Allocation Fund and UTI Nifty 500 Index Fund?
Yes. 34.8% 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.