Parag Parikh Conservative Hybrid Fund vs Parag Parikh Dynamic Asset Allocation Fund
Direct Plan, Growth option · Data as on 30-10-2026
Parag Parikh Conservative Hybrid Fund is a Conservative Hybrid fund and Parag Parikh Dynamic Asset Allocation Fund is a Balanced Advantage fund. In the year to 30-10-2026, Parag Parikh Conservative Hybrid Fund (Direct) returned 1.8% and Parag Parikh Dynamic Asset Allocation Fund (Direct) returned 1.1%. Parag Parikh Conservative Hybrid Fund charges 0.32% a year and Parag Parikh Dynamic Asset Allocation Fund 0.41% (Direct plans). Their portfolios overlap 62.4%: they hold 47 of the same securities.
Parag Parikh Conservative Hybrid Fund
Conservative Hybrid
- 1 year return
- 1.8%
- Expense ratio
- 0.32%
- NAV
- ₹15.85
Parag Parikh Dynamic Asset Allocation Fund
Balanced Advantage
- 1 year return
- 1.1%
- Expense ratio
- 0.41%
- NAV
- ₹11.63
Which is better, Parag Parikh Conservative Hybrid or Parag Parikh Dynamic 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.
- Parag Parikh Conservative Hybrid returned more over 1 year: 1.8% against 1.1%.
- Parag Parikh Conservative Hybrid costs less: 0.32% a year against 0.41% (Direct plans).
- Parag Parikh Dynamic Asset Allocation fell less in its worst fall since 28-02-2024: −2.5% against −2.5%.
- Parag Parikh Conservative Hybrid is the larger fund: ₹3,454 Cr against ₹2,533 Cr.
- Their portfolios overlap 62.4%: 47 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 | Parag Parikh Conservative Hybrid Fund | Parag Parikh Dynamic Asset Allocation Fund |
|---|---|---|
| Fund house | PPFAS Mutual Fund | PPFAS Mutual Fund |
| Category | Conservative Hybrid | Balanced Advantage |
| AUM | ₹3,454 Cr (30-09-2026) | ₹2,533 Cr (30-09-2026) |
| NAV | ₹15.85 (Direct) | ₹11.63 (Direct) |
| Expense ratio (Direct) | 0.32% | 0.41% |
| Expense ratio (Regular) | 0.67% | 0.76% |
| Riskometer | Moderately High | Moderately High |
| Benchmark | CRISIL Hybrid 85+15 - Conservative Index | CRISIL Hybrid 50+50 - Moderate Index |
| Launch date | 26-05-2021 | 27-02-2024 |
| Minimum investment | ₹5,000 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Rajeev Thakkar, Raunak Onkar, Rukun Tarachandani, Raj Mehta, Tejas Soman, Mansi Kariya | Rajeev Thakkar, Raunak Onkar, Rukun Tarachandani, Raj Mehta, Tejas Soman, Mansi Kariya |
| Exit load | For units in excess of 10% of the investment,1% will be charged for redemption within 365 days | Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 1 year. |
Parag Parikh Conservative Hybrid vs Parag Parikh Dynamic 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 |
|---|---|---|---|---|---|---|---|
| Parag Parikh Conservative Hybrid Fund (Direct) | −1.26% | −1.85% | +0.31% | +1.84% | +8.72% | +8.79% | -- |
| Parag Parikh Dynamic Asset Allocation Fund (Direct) | −1.31% | −1.92% | −0.55% | +1.10% | -- | -- | -- |
| Conservative Hybrid average | −0.46% | −1.48% | +0.87% | +1.02% | +7.61% | +7.13% | -- |
| Balanced Advantage average | −0.55% | −2.88% | +0.08% | −2.08% | -- | -- | -- |
Category average: the average of the 18 Conservative Hybrid funds and the 38 Balanced Advantage funds, same plan type.
Parag Parikh Conservative Hybrid vs Parag Parikh Dynamic Asset Allocation: Year-wise Returns
| Year | Conservative HybridParag Parikh Conservative Hybrid | Dynamic Asset AllocationParag Parikh Dynamic Asset Allocation |
|---|---|---|
| 2026to date | +1.59% | +0.89% |
| 2025 | +7.75% | +5.90% |
| 2024 | +12.83% | -- |
| 2023 | +14.03% | -- |
| 2022 | +7.87% | -- |
Parag Parikh Conservative Hybrid vs Parag Parikh Dynamic Asset Allocation: Rolling Returns
Every holding period of both funds
Rolling returns
Every 1-year holding period, 403 of them, one for each trading day from 28-02-2025 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.
Parag Parikh Conservative Hybrid Fund (Direct)
Parag Parikh Dynamic Asset Allocation Fund (Direct)
to
Apr 2025Jul 2024
to
Jul 2025Nov 2024
to
Nov 2025Feb 2025
to
Feb 2026Jun 2025
to
Jun 2026Sept 2025
to
Sept 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Parag Parikh Conservative Hybrid | 0.0 | 15.9 | 70.7 | 13.4 | 0.0 | 0.0 | 0.0 | 7.2% | 7.3% | 1.5% | 12.0% |
| Parag Parikh Dynamic Asset Allocation | 0.0 | 38.7 | 50.6 | 10.7 | 0.0 | 0.0 | 0.0 | 6.0% | 5.7% | 0.8% | 11.1% |
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. Every fund is measured over the days all of them have, from 28-02-2024. Past returns do not promise future returns.
Parag Parikh Conservative Hybrid vs Parag Parikh Dynamic 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 01-02-2024 to 30-10-2026: 33 instalments, ₹3,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Parag Parikh Conservative HybridParag Parikh Conservative Hybrid Fund (Direct) | ₹3,30,000 | ₹3,51,302 | ₹21,302 | 4.5% |
| Parag Parikh Dynamic Asset AllocationParag Parikh Dynamic Asset Allocation Fund (Direct) | ₹3,30,000 | ₹3,46,149 | ₹16,149 | 3.4% |
Parag Parikh Conservative HybridParag Parikh Conservative Hybrid Fund (Direct)
Parag Parikh Dynamic Asset AllocationParag Parikh Dynamic 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.
Parag Parikh Conservative Hybrid vs Parag Parikh Dynamic Asset Allocation: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Parag Parikh Conservative Hybrid Fund (Direct) | Parag Parikh Dynamic Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +1.84% | +1.10% |
| Standard deviation | 2.66% | 2.90% |
| Sharpe ratio | -1.28 | -1.43 |
| Sortino ratio | -1.67 | -1.81 |
| Maximum drawdown | −2.5% (23-10-2026) | −2.5% (23-10-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 | Parag Parikh Conservative Hybrid Fund (Direct) | Parag Parikh Dynamic Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.86% | +5.92% |
| Standard deviation | 2.91% | 2.78% |
| Sharpe ratio | 1.12 | 0.00 |
| Sortino ratio | 1.61 | 0.00 |
| Maximum drawdown | −2.5% (23-10-2026) | −2.5% (23-10-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 28-05-2021 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.
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.
Parag Parikh Conservative Hybrid Fund (Direct)
Parag Parikh Dynamic Asset Allocation Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Parag Parikh Conservative Hybrid Fund (Direct) | −2.5% | 14-08-2026 | 23-10-2026 | Not yet | -- | −2.3% |
| Parag Parikh Dynamic Asset Allocation Fund (Direct) | −2.5% | 04-08-2026 | 23-10-2026 | Not yet | -- | −2.2% |
From daily values since 28-02-2024, 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.
Parag Parikh Conservative Hybrid Fund (Direct)
Parag Parikh Dynamic Asset Allocation Fund (Direct)
Parag Parikh Conservative Hybrid vs Parag Parikh Dynamic Asset Allocation: Portfolio Overlap
From each fund's latest monthly portfolio: Parag Parikh Conservative Hybrid Fund, September 2026; Parag Parikh Dynamic Asset Allocation Fund, September 2026
Holdings in common
- Overlap
- 62.4%
- Held by both
- 47
- Only in Parag Parikh Conservative Hybrid
- 31
- Only in Parag Parikh Dynamic Asset Allocation
- 17
| Security | % of Parag Parikh Conservative Hybrid | % of Parag Parikh Dynamic Asset Allocation |
|---|---|---|
| Brookfield India Real Estate Trust | 5.06% | 5.60% |
| Embassy Office Parks REIT | 5.01% | 5.57% |
| 7.21% Tamilnadu SDL (MD 21/01/2032) | 5.55% | 3.88% |
| 7.72% Maharashtra SDL (MD 01/03/2031) | 3.66% | 2.99% |
| Knowledge Realty Trust | 2.34% | 2.50% |
| 7.49% Embassy Off Park RE NCD Sr XVII (22/06/2029) | 2.14% | 2.92% |
| Petronet LNG Limited | 2.09% | 2.81% |
| Coal India Limited | 2.07% | 3.02% |
| ITC Limited | 2.02% | 2.47% |
| 8.15% Tata Capital Ltd NCD (MD 11/06/2029) | 2.46% | 1.97% |
| Power Grid Corporation of India Limited | 1.97% | 2.61% |
| 7.42% SIDBI NCD Sr VII (MD 12/03/2029) | 2.15% | 1.95% |
| 7.08% Uttar Pradesh SDL (MD 17/02/2031) | 4.27% | 1.94% |
| 7.61% Gujarat SDL (MD 03/08/2032) | 1.45% | 1.97% |
| 7.64% NABARD Sr 25B NCD (MD 06/12/2029) | 1.44% | 1.96% |
| 7.3763% Bajaj Fina NCD (MD 26/06/2028) | 1.43% | 1.95% |
| 7.01% Gujarat SDL (MD 03/09/2031) | 1.42% | 1.94% |
| 7.12% Tamilnadu SDL (MD 18/02/2032) | 1.42% | 3.87% |
| 7.7% Karnataka SDL (MD 08/11/2033) | 1.16% | 1.38% |
| Parag Parikh Liquid Fund- Direct Plan- Growth | 1.01% | 2.77% |
| 7.6% Karnataka SDL (MD 04/01/2033) | 1.01% | 2.76% |
| 7.72% Maharashtra SDL (MD 23/03/2032) | 2.91% | 0.99% |
| 7.75% LIC Housing Fin Ltd NCD Tr444 (MD23/08/29) | 2.16% | 0.98% |
| 7.49% SIDBI NCD Ser VIII (MD 11/06/2029) | 2.15% | 0.98% |
| 7.33% Maharashtra SDL (MD 31/05/2031) | 1.44% | 0.98% |
| 7.38% Karnataka SDL (MD 04/09/2034) | 2.69% | 0.97% |
| 7.14% Madhya Pradesh SDL (MD 19/03/2032) | 1.42% | 0.97% |
| 7.40 % NABARD NCD Sr 25D (MD 29/04/2030) | 1.42% | 0.97% |
| 7.39% Tamilnadu SDL (MD 10/05/2033) | 1.29% | 0.97% |
| Power Finance Corporation Limited | 0.97% | 0.96% |
| 7.73% Maharashtra SDL (MD 29/03/2032) | 2.48% | 0.91% |
| 6.78% Maharashtra SDL (MD 25/05/2031) | 1.55% | 0.77% |
| 7.02% GOI (MD 18/06/2031) | 0.73% | 0.99% |
| 7.7% Maharashtra SDL (MD 08/03/2031) | 0.73% | 1.00% |
| 7.38% Bajaj Finance Ltd NCD Opt II (MD 28/06/2030) | 0.70% | 1.91% |
| 7.07% LIC Hsg Fin Tr 455 NCD (MD 29/04/2030) | 0.70% | 0.96% |
| Swaraj Engines Limited | 0.64% | 1.00% |
| 7.76% Maharashtra SDL (MD 04/10/2030) | 2.20% | 0.40% |
| 7.08% Karnataka SDL (MD 12/08/2031) | 3.99% | 0.39% |
| 6.89% Karnataka SDL (MD 15/12/2033) | 0.69% | 0.38% |
| 7.07% IndiGrid Inf NCD SR AF (20/06/2030) | 0.42% | 0.38% |
| 7.34% Maharashtra SDL (MD 14/06/2031) | 0.29% | 0.59% |
| 6.88% Karnataka SDL (MD 08/12/2032) | 0.28% | 0.38% |
| 7.17% Uttar Pradesh SDL (MD 10/03/2031) | 1.29% | 0.19% |
| 7.3% Tamilnadu SDL (MD 30/03/2032) | 0.14% | 1.36% |
| 364 Days Tbill (MD 01/07/2027) | 0.14% | 0.19% |
| Indus Towers Limited | 0.07% | 0.05% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 62.4% means 62.4% 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 Parag Parikh Conservative Hybrid Fund
| Security | % of fund |
|---|---|
| 7.82% Tamilnadu SDL (MD 27/10/2032) | 1.46% |
| 7.36% Karnataka SDL (MD 13/03/2034) | 1.42% |
| 7.5% Tamilnadu SDL (MD 24/04/2031) | 0.73% |
| 7.39% SIDBI NCD Ser IX (MD 21/03/2030) | 0.71% |
| 7.7% Bajaj Fin Ltd NCD (MD 20/09/2029) | 0.71% |
Largest holdings only in Parag Parikh Dynamic Asset Allocation Fund
| Security | % of fund |
|---|---|
| 6.95% Tamilnadu SDL (MD 17/02/2031) | 1.94% |
| 7.81% Gujarat SDL (MD 12/10/2032) | 1.40% |
| Nesco Limited | 1.06% |
| 7.57% LIC Hsg Fin NCD Tr 447 Op I (MD 18/10/2029) | 0.98% |
| VST Industries Limited | 0.72% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Parag Parikh Conservative Hybrid | Parag Parikh Dynamic Asset Allocation |
|---|---|---|
| Equity | 9.8% | 14.7% |
| Debt | 74.0% | 57.9% |
| Cash and others | 16.2% | 27.4% |
Market cap of stocks
| Market cap | Parag Parikh Conservative Hybrid | Parag Parikh Dynamic Asset Allocation |
|---|---|---|
| Large Cap | 7.1% | 9.1% |
| Mid Cap | 2.1% | 2.8% |
| Small Cap | 0.6% | 2.8% |
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 | Parag Parikh Conservative Hybrid | Parag Parikh Dynamic Asset Allocation |
|---|---|---|
| Consumable Fuels | 2.1% | 3.0% |
| Gas | 2.1% | 2.8% |
| Power | 2.0% | 2.6% |
| Diversified FMCG | 2.0% | 2.5% |
| Commercial Services & Supplies | 0.0% | 1.1% |
| Industrial Products | 0.6% | 1.0% |
| Finance | 1.0% | 1.0% |
The six largest sectors of each fund's stocks, % of the fund.
Parag Parikh Conservative Hybrid vs Parag Parikh Dynamic Asset Allocation: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Parag Parikh Conservative Hybrid Fund | Parag Parikh Dynamic Asset Allocation Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.32% | 0.41% |
| Base expense ratio (Direct) | 0.24% | 0.23% |
| Total expense ratio (Regular) | 0.67% | 0.76% |
| Base expense ratio (Regular) | 0.54% | 0.53% |
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 Parag Parikh Conservative Hybrid with
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- Parag Parikh Dynamic Asset Allocation vs Axis Balanced Advantage
- Parag Parikh Dynamic Asset Allocation vs WhiteOak Capital Balanced Advantage
Parag Parikh Conservative Hybrid Fund vs Parag Parikh Dynamic Asset Allocation Fund: Frequently Asked Questions
What is the difference between Parag Parikh Conservative Hybrid Fund and Parag Parikh Dynamic Asset Allocation Fund?
Parag Parikh Conservative Hybrid Fund is a Conservative Hybrid fund, Parag Parikh Dynamic Asset Allocation Fund is a Balanced Advantage fund, run by PPFAS Mutual Fund. Their portfolios overlap 62.4%. Parag Parikh Conservative Hybrid Fund charges 0.32% a year and Parag Parikh Dynamic Asset Allocation Fund 0.41%.
Which has given higher returns, Parag Parikh Conservative Hybrid Fund or Parag Parikh Dynamic Asset Allocation Fund?
Over 1 year: Parag Parikh Conservative Hybrid Fund +1.84%, Parag Parikh Dynamic Asset Allocation Fund +1.10%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Parag Parikh Conservative Hybrid Fund or Parag Parikh Dynamic Asset Allocation Fund?
Parag Parikh Conservative Hybrid Fund charges less: 0.32% a year against 0.41%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Parag Parikh Conservative Hybrid Fund and Parag Parikh Dynamic Asset Allocation Fund overlap?
62.4%. They hold 47 of the same securities, the largest shared ones being BIRET-RR, EMBASSY-RR, 7.21% Tamilnadu SDL (MD 21/01/2032). From each fund's latest monthly portfolio.
Which is riskier, Parag Parikh Conservative Hybrid Fund or Parag Parikh Dynamic Asset Allocation Fund?
On SEBI's riskometer, Parag Parikh Conservative Hybrid Fund is rated Moderately High and Parag Parikh Dynamic Asset Allocation Fund Moderately High. Over 1 years, the standard deviation of daily returns was 2.66% and 2.90% a year.
Can I invest in both Parag Parikh Conservative Hybrid Fund and Parag Parikh Dynamic Asset Allocation Fund?
Yes. 62.4% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Parag Parikh Conservative Hybrid Fund and Parag Parikh Dynamic Asset Allocation Fund?
Parag Parikh Conservative Hybrid Fund: Rajeev Thakkar, Raunak Onkar, Rukun Tarachandani, Raj Mehta, Tejas Soman, Mansi Kariya. Parag Parikh Dynamic Asset Allocation Fund: Rajeev Thakkar, Raunak Onkar, Rukun Tarachandani, Raj Mehta, Tejas Soman, Mansi Kariya.
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.