Nippon India Multi Cap Fund vs WhiteOak Capital Multi Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Nippon India Multi Cap Fund and WhiteOak Capital Multi Cap Fund are both Multi Cap funds. In the 3 years to 30-10-2026, Nippon India Multi Cap Fund (Direct) returned 11.9% a year and WhiteOak Capital Multi Cap Fund (Direct) returned 17.5% a year. Nippon India Multi Cap Fund charges 0.89% a year and WhiteOak Capital Multi Cap Fund 0.89% (Direct plans). Their portfolios overlap 22.4%: they hold 44 of the same securities.
Nippon India Multi Cap Fund
Multi Cap
- 3 year return
- 11.9%
- Expense ratio
- 0.89%
- NAV
- ₹309.72
WhiteOak Capital Multi Cap Fund
Multi Cap
- 3 year return
- 17.5%
- Expense ratio
- 0.89%
- NAV
- ₹16.08
Which is better, Nippon India Multi Cap or WhiteOak Capital Multi Cap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- WhiteOak Capital Multi Cap returned more over 3 years: 17.5% a year against 11.9%.
- WhiteOak Capital Multi Cap returned more over 1 year: −0.5% against −8.1%.
- Nippon India Multi Cap swung less over 3 years: a standard deviation of 14.3% a year against 14.4%.
- WhiteOak Capital Multi Cap fell less in its worst fall since 25-09-2023: −16.9% against −18.6%.
- Nippon India Multi Cap holds more in large companies: 43.5% of the fund in large caps against 31.6%.
- Nippon India Multi Cap is the larger fund: ₹53,767 Cr against ₹4,308 Cr.
- Their portfolios overlap 22.4%: 44 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 Cap Fund | WhiteOak Capital Multi Cap Fund |
|---|---|---|
| Fund house | Nippon India Mutual Fund | WhiteOak Capital Mutual Fund |
| Category | Multi Cap | Multi Cap |
| AUM | ₹53,767 Cr (30-09-2026) | ₹4,308 Cr (30-09-2026) |
| NAV | ₹309.72 (Direct) | ₹16.08 (Direct) |
| Expense ratio (Direct) | 0.89% | 0.89% |
| Expense ratio (Regular) | 1.62% | 2.21% |
| Riskometer | Very High | Very High |
| Benchmark | NIFTY 500 Multicap 50:25:25 Total Return Index | NIFTY 500 Multicap 50:25:25 Total Return Index |
| Launch date | 28-03-2005 | 22-09-2023 |
| Minimum investment | ₹100 | ₹500 |
| Lock in | None | None |
| Fund managers | Sailesh Raj Bhan, Yatin Matta | Ramesh Mantri, Piyush Baranwal, Trupti Agrawal, Dheeresh Pathak, Ashish Agrawal |
| Exit load | For units more than 10% of the investments, an exit load of 1% if redeemed within 12 months. | Nil |
Nippon India Multi Cap vs WhiteOak Capital Multi 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 |
|---|---|---|---|---|---|---|---|
| Nippon India Multi Cap Fund (Direct) | −3.06% | −7.39% | −5.16% | −8.14% | +11.87% | +14.92% | +14.86% |
| WhiteOak Capital Multi Cap Fund (Direct) | −1.42% | −4.28% | +3.31% | −0.45% | +17.52% | -- | -- |
| Multi Cap average | −2.65% | −3.95% | +1.99% | −1.14% | +13.54% | -- | -- |
Category average: the average of the 33 Multi Cap funds, same plan type.
Nippon India Multi Cap vs WhiteOak Capital Multi Cap: Year-wise Returns
| Year | Nippon IndiaNippon India Multi Cap | WhiteOak CapitalWhiteOak Capital Multi Cap | Nifty500 Multicap 50:25:25 TRI |
|---|---|---|---|
| 2026to date | −6.44% | +0.42% | −5.56% |
| 2025 | +4.88% | +7.19% | +5.29% |
| 2024 | +26.85% | +30.77% | +19.34% |
| 2023 | +39.15% | -- | +33.74% |
| 2022 | +14.97% | -- | +2.84% |
| 2021 | +49.87% | -- | +40.62% |
Nippon India Multi Cap vs WhiteOak Capital Multi Cap: Rolling Returns
Every holding period of both funds, against Nifty500 Multicap 50:25:25 TRI, the benchmark of both
Rolling returns
Every 3-year holding period, 22 of them, one for each trading day from 25-09-2026 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.
Nippon India Multi Cap Fund (Direct)
WhiteOak Capital Multi Cap Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
to
Sept 2026Oct 2023
to
Oct 2026Oct 2023
to
Oct 2026Oct 2023
to
Oct 2026Oct 2023
to
Oct 2026Oct 2023
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 | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Nippon India Multi Cap | 0.0 | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 11.9% | 11.9% | 11.0% | 13.1% | 100% |
| WhiteOak Capital Multi Cap | 0.0 | 0.0 | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 17.3% | 17.5% | 16.4% | 18.3% | 100% |
| Nifty500 Multicap 50:25:25 TRI | 0.0 | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 10.9% | 11.0% | 10.1% | 12.0% | -- |
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 Nifty500 Multicap 50:25:25 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 25-09-2023. Past returns do not promise future returns.
Nippon India Multi Cap vs WhiteOak Capital Multi 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 01-09-2023 to 30-10-2026: 38 instalments, ₹3,80,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Nippon India Multi CapNippon India Multi Cap Fund (Direct) | ₹3,80,000 | ₹3,94,729 | ₹14,729 | 2.4% |
| WhiteOak Capital Multi CapWhiteOak Capital Multi Cap Fund (Direct) | ₹3,80,000 | ₹4,40,528 | ₹60,528 | 9.3% |
Nippon India Multi CapNippon India Multi Cap Fund (Direct)
WhiteOak Capital Multi CapWhiteOak Capital Multi 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.
Nippon India Multi Cap vs WhiteOak Capital Multi Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Nippon India Multi Cap Fund (Direct) | WhiteOak Capital Multi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −8.14% | −0.45% |
| Standard deviation | 14.29% | 13.86% |
| Sharpe ratio | -0.94 | -0.41 |
| Sortino ratio | -1.24 | -0.56 |
| Maximum drawdown | −13.1% (31-03-2026) | −15.0% (23-03-2026) |
| Beta | 0.94 | 0.91 |
| Alpha | −2.81% | +4.59% |
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 Multi Cap Fund (Direct) | WhiteOak Capital Multi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.87% | +17.52% |
| Standard deviation | 14.32% | 14.37% |
| Sharpe ratio | 0.41 | 0.80 |
| Sortino ratio | 0.55 | 1.09 |
| Maximum drawdown | −18.6% (03-03-2025) | −16.9% (28-02-2025) |
| Beta | 0.93 | 0.93 |
| Alpha | +0.99% | +6.61% |
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 Multi Cap Fund (Direct) | WhiteOak Capital Multi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +14.98% | +16.50% |
| Standard deviation | 16.54% | 14.33% |
| Sharpe ratio | 0.54 | 0.73 |
| Sortino ratio | 0.73 | 0.99 |
| Maximum drawdown | −42.8% (23-03-2020) | −16.9% (28-02-2025) |
| Beta | -- | 0.93 |
| Alpha | -- | +6.65% |
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 Multi Cap Fund (Direct)
WhiteOak Capital Multi Cap Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Nippon India Multi Cap Fund (Direct) | −18.6% | 26-09-2024 | 03-03-2025 | 17-09-2025 | 7 months | −9.2% |
| WhiteOak Capital Multi Cap Fund (Direct) | −16.9% | 11-12-2024 | 28-02-2025 | 27-06-2025 | 4 months | −6.8% |
| Nifty500 Multicap 50:25:25 TRI | −19.8% | 26-09-2024 | 03-03-2025 | 03-08-2026 | 17 months | −8.0% |
From daily values since 25-09-2023, 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 Multi Cap Fund (Direct)
WhiteOak Capital Multi Cap Fund (Direct)
Nifty500 Multicap 50:25:25 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 Multi Cap Fund (Direct)
WhiteOak Capital Multi Cap Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
Against Nifty500 Multicap 50:25:25 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Nippon India Multi Cap Fund (Direct) | 95% | 89% | 4.33% |
| WhiteOak Capital Multi Cap Fund (Direct) | 110% | 83% | 3.80% |
From month-end values since 25-09-2023. 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 Multi Cap vs WhiteOak Capital Multi Cap: Portfolio Overlap
From each fund's latest monthly portfolio: Nippon India Multi Cap Fund, September 2026; WhiteOak Capital Multi Cap Fund, September 2026
Holdings in common
- Overlap
- 22.4%
- Held by both
- 44
- Only in Nippon India Multi Cap
- 76
- Only in WhiteOak Capital Multi Cap
- 164
| Security | % of Nippon India Multi Cap | % of WhiteOak Capital Multi Cap |
|---|---|---|
| ICICI Bank Limited | 2.97% | 5.07% |
| HDFC Bank Limited | 7.06% | 2.10% |
| Mahindra & Mahindra Limited | 1.35% | 1.49% |
| State Bank of India | 1.23% | 1.63% |
| Reliance Industries Limited | 1.34% | 1.19% |
| Max Financial Services Limited | 1.51% | 1.16% |
| Eternal Limited | 0.96% | 1.69% |
| Axis Bank Limited | 5.07% | 0.65% |
| Info Edge (India) Limited | 0.56% | 0.63% |
| Ajanta Pharma Limited | 0.50% | 0.62% |
| Gillette India Limited | 0.66% | 0.48% |
| FSN E-Commerce Ventures Limited | 1.19% | 0.46% |
| Cipla Limited | 0.64% | 0.45% |
| Sai Life Sciences Limited | 1.13% | 0.44% |
| IPCA Laboratories Limited | 0.44% | 0.45% |
| Gland Pharma Limited | 0.64% | 0.43% |
| Berger Paints (I) Limited | 0.60% | 0.43% |
| Dr. Lal Path Labs Limited | 0.42% | 0.58% |
| Vishal Mega Mart Limited | 0.80% | 0.41% |
| Vijaya Diagnostic Centre Limited | 0.78% | 0.41% |
| Billionbrains Garage Ventures Ltd | 0.38% | 0.47% |
| Page Industries Limited | 0.95% | 0.36% |
| Larsen & Toubro Limited | 1.74% | 0.35% |
| Multi Commodity Exchange of India Limited | 1.27% | 0.35% |
| Hitachi Energy India Limited | 0.35% | 0.31% |
| Sun Pharmaceutical Industries Limited | 0.91% | 0.30% |
| Meesho Ltd | 0.52% | 0.30% |
| Bajaj Finance Limited | 1.63% | 0.26% |
| GE Vernova T&D India Limited | 1.58% | 0.26% |
| UTI Asset Management Company Limited | 0.28% | 0.26% |
| Abbott India Limited | 0.74% | 0.24% |
| Vedant Fashions Limited | 0.45% | 0.23% |
| Cummins India Limited | 0.23% | 0.25% |
| Kansai Nerolac Paints Limited | 0.59% | 0.21% |
| Infosys Limited | 3.06% | 0.20% |
| Vedanta Aluminium Metal Limited | 0.56% | 0.20% |
| Colgate Palmolive (India) Limited | 0.90% | 0.18% |
| Indigo Paints Limited | 0.18% | 0.59% |
| NTPC Limited | 1.79% | 0.16% |
| CARE Ratings Limited | 0.16% | 0.66% |
| Tata Consultancy Services Limited | 0.99% | 0.13% |
| Awfis Space Solutions Limited | 0.13% | 0.07% |
| Power Finance Corporation Limited | 0.39% | 0.04% |
| PB Fintech Limited | 0.69% | 0.01% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 22.4% means 22.4% 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 Cap Fund
| Security | % of fund |
|---|---|
| Linde India Limited | 1.79% |
| Samvardhana Motherson International Limited | 1.70% |
| Swiggy Limited | 1.63% |
| Avenue Supermarts Limited | 1.63% |
| ITC Limited | 1.49% |
Largest holdings only in WhiteOak Capital Multi Cap Fund
| Security | % of fund |
|---|---|
| Bharti Airtel Limited | 2.69% |
| Nestle India Limited | 2.51% |
| Nexus Select Trust - REIT | 1.67% |
| The Federal Bank Limited | 1.19% |
| Bharti Hexacom Limited | 1.17% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Nippon India Multi Cap | WhiteOak Capital Multi Cap |
|---|---|---|
| Equity | 99.3% | 88.1% |
| Debt | 0.0% | 3.7% |
| Cash and others | 0.7% | 8.3% |
Market cap of stocks
| Market cap | Nippon India Multi Cap | WhiteOak Capital Multi Cap |
|---|---|---|
| Large Cap | 43.5% | 31.6% |
| Mid Cap | 29.5% | 24.0% |
| Small Cap | 26.3% | 29.6% |
| Not on AMFI's list | 0.0% | 2.9% |
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 Cap | WhiteOak Capital Multi Cap |
|---|---|---|
| Banks | 17.6% | 14.3% |
| Retailing | 9.9% | 5.1% |
| Pharmaceuticals & Biotechnology | 7.9% | 7.7% |
| Finance | 3.0% | 7.3% |
| Consumer Durables | 6.9% | 3.2% |
| Leisure Services | 5.8% | 1.4% |
| Electrical Equipment | 5.0% | 3.5% |
| Healthcare Services | 1.6% | 3.9% |
| Telecom - Services | 0.0% | 3.9% |
The six largest sectors of each fund's stocks, % of the fund.
Nippon India Multi Cap vs WhiteOak Capital Multi Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Nippon India Multi Cap Fund | WhiteOak Capital Multi Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.89% | 0.89% |
| Base expense ratio (Direct) | 0.60% | 0.50% |
| Total expense ratio (Regular) | 1.62% | 2.21% |
| Base expense ratio (Regular) | 1.23% | 1.62% |
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 Cap with
Nippon India Multi Cap Fund vs WhiteOak Capital Multi Cap Fund: Frequently Asked Questions
What is the difference between Nippon India Multi Cap Fund and WhiteOak Capital Multi Cap Fund?
Both are Multi Cap funds, run by Nippon India Mutual Fund and WhiteOak Capital Mutual Fund. Their portfolios overlap 22.4%. Nippon India Multi Cap Fund charges 0.89% a year and WhiteOak Capital Multi Cap Fund 0.89%.
Which has given higher returns, Nippon India Multi Cap Fund or WhiteOak Capital Multi Cap Fund?
Over 1 year: Nippon India Multi Cap Fund −8.14%, WhiteOak Capital Multi Cap Fund −0.45%. Over 3 years: Nippon India Multi Cap Fund +11.87% a year, WhiteOak Capital Multi Cap Fund +17.52% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Nippon India Multi Cap Fund or WhiteOak Capital Multi Cap Fund?
Both charge 0.89% a year.
How much do Nippon India Multi Cap Fund and WhiteOak Capital Multi Cap Fund overlap?
22.4%. They hold 44 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, M&M. From each fund's latest monthly portfolio.
Which is riskier, Nippon India Multi Cap Fund or WhiteOak Capital Multi Cap Fund?
On SEBI's riskometer, Nippon India Multi Cap Fund is rated Very High and WhiteOak Capital Multi Cap Fund Very High. Over 3 years, the standard deviation of daily returns was 14.32% and 14.37% a year.
Which is better for SIP, Nippon India Multi Cap Fund or WhiteOak Capital Multi Cap Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹3,81,103 in Nippon India Multi Cap Fund (XIRR 1.9% a year) and ₹4,24,483 in WhiteOak Capital Multi Cap Fund (XIRR 8.9% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both Nippon India Multi Cap Fund and WhiteOak Capital Multi Cap Fund?
Yes. 22.4% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Nippon India Multi Cap Fund and WhiteOak Capital Multi Cap Fund?
Nippon India Multi Cap Fund: Sailesh Raj Bhan, Yatin Matta. WhiteOak Capital Multi Cap Fund: Ramesh Mantri, Piyush Baranwal, Trupti Agrawal, Dheeresh Pathak, Ashish Agrawal.
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.