SBI Balanced Advantage Fund vs SBI Multi Asset Allocation Fund
Direct Plan, Growth option · Data as on 30-10-2026
SBI Balanced Advantage Fund is a Balanced Advantage fund and SBI Multi Asset Allocation Fund is a Multi Asset fund. In the 3 years to 30-10-2026, SBI Balanced Advantage Fund (Direct) returned 9.3% a year and SBI Multi Asset Allocation Fund (Direct) returned 13.9% a year. SBI Balanced Advantage Fund charges 0.86% a year and SBI Multi Asset Allocation Fund 0.66% (Direct plans). Their portfolios overlap 36.6%: they hold 52 of the same securities.
SBI Balanced Advantage Fund
Balanced Advantage
- 3 year return
- 9.3%
- Expense ratio
- 0.86%
- NAV
- ₹16.00
SBI Multi Asset Allocation Fund
Multi Asset
- 3 year return
- 13.9%
- Expense ratio
- 0.66%
- NAV
- ₹71.85
Which is better, SBI Balanced Advantage or SBI 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.
- SBI Multi Asset Allocation returned more over 5 years: 12.5% a year against 9.4%.
- SBI Multi Asset Allocation returned more over 3 years: 13.9% a year against 9.3%.
- SBI Multi Asset Allocation costs less: 0.66% a year against 0.86% (Direct plans).
- SBI Balanced Advantage swung less over 3 years: a standard deviation of 6.8% a year against 7.9%.
- SBI Balanced Advantage fell less in its worst fall since 07-09-2021: −7.4% against −8.6%.
- SBI Balanced Advantage holds more in large companies: 49.6% of the fund in large caps against 19.4%.
- SBI Balanced Advantage is the larger fund: ₹40,545 Cr against ₹21,044 Cr.
- Their portfolios overlap 36.6%: 52 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 | SBI Balanced Advantage Fund | SBI Multi Asset Allocation Fund |
|---|---|---|
| Fund house | SBI Mutual Fund | SBI Mutual Fund |
| Category | Balanced Advantage | Multi Asset |
| AUM | ₹40,545 Cr (30-09-2026) | ₹21,044 Cr (30-09-2026) |
| NAV | ₹16.00 (Direct) | ₹71.85 (Direct) |
| Expense ratio (Direct) | 0.86% | 0.66% |
| Expense ratio (Regular) | 1.67% | 1.39% |
| Riskometer | High | Very High |
| Benchmark | NIFTY 50 Hybrid Composite Debt 50:50 Index | 45% BSE 500 TRI + 40% Crisil Composite Bond Fund Index + 10% Domestic Prices of Gold + 5% Domestic Prices of Silver. |
| Launch date | 31-08-2021 | 21-12-2005 |
| Minimum investment | ₹5,000 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Dinesh Balachandran, Anup Upadhyay | Mansi Sajeja, Dinesh Balachandran, Vandna Soni |
| Exit load | For units in excess of 10% of the investment,1% will be charged for redemption within 1 year. | For units in excess of 10% of the investment, 1% will be charged for redemption within 12 months |
SBI Balanced Advantage vs SBI 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 |
|---|---|---|---|---|---|---|---|
| SBI Balanced Advantage Fund (Direct) | −0.92% | −4.44% | −2.94% | −3.13% | +9.33% | +9.41% | -- |
| SBI Multi Asset Allocation Fund (Direct) | −2.02% | −3.49% | −2.44% | +2.50% | +13.91% | +12.53% | +11.56% |
| Balanced Advantage average | −0.55% | −2.88% | +0.08% | −2.08% | +9.14% | +8.35% | -- |
| Multi Asset average | −1.71% | −3.33% | −1.78% | +2.00% | +14.20% | +12.56% | +12.92% |
Category average: the average of the 38 Balanced Advantage funds and the 37 Multi Asset funds, same plan type.
SBI Balanced Advantage vs SBI Multi Asset Allocation: Year-wise Returns
| Year | Balanced AdvantageSBI Balanced Advantage | Multi Asset AllocationSBI Multi Asset Allocation |
|---|---|---|
| 2026to date | −4.89% | −1.49% |
| 2025 | +10.93% | +19.58% |
| 2024 | +14.50% | +13.87% |
| 2023 | +21.49% | +25.48% |
| 2022 | +6.20% | +6.96% |
| 2021 | -- | +13.96% |
SBI Balanced Advantage vs SBI Multi Asset Allocation: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 535 of them, one for each trading day from 09-09-2024 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.
SBI Balanced Advantage Fund (Direct)
SBI Multi Asset Allocation Fund (Direct)
to
Nov 2024Mar 2022
to
Mar 2025Aug 2022
to
Aug 2025Dec 2022
to
Dec 2025Apr 2023
to
Apr 2026Aug 2023
to
Aug 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SBI Balanced Advantage | 0.0 | 0.0 | 6.2 | 67.9 | 26.0 | 0.0 | 0.0 | 13.8% | 14.2% | 8.8% | 17.4% |
| SBI Multi Asset Allocation | 0.0 | 0.0 | 0.0 | 18.4 | 75.3 | 6.3 | 0.0 | 17.1% | 17.1% | 13.4% | 21.6% |
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 07-09-2021. Past returns do not promise future returns.
SBI Balanced Advantage vs SBI 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 07-09-2021 to 30-10-2026: 62 instalments, ₹6,20,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| SBI Balanced AdvantageSBI Balanced Advantage Fund (Direct) | ₹6,20,000 | ₹7,62,772 | ₹1,42,772 | 8.0% |
| SBI Multi Asset AllocationSBI Multi Asset Allocation Fund (Direct) | ₹6,20,000 | ₹8,52,758 | ₹2,32,758 | 12.3% |
SBI Balanced AdvantageSBI Balanced Advantage Fund (Direct)
SBI Multi Asset AllocationSBI 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.
SBI Balanced Advantage vs SBI Multi Asset Allocation: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | SBI Balanced Advantage Fund (Direct) | SBI Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | −3.13% | +2.50% |
| Standard deviation | 7.65% | 9.13% |
| Sharpe ratio | -1.09 | -0.30 |
| Sortino ratio | -1.44 | -0.40 |
| Maximum drawdown | −7.4% (30-03-2026) | −8.6% (23-03-2026) |
| 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 | SBI Balanced Advantage Fund (Direct) | SBI Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.33% | +13.91% |
| Standard deviation | 6.81% | 7.94% |
| Sharpe ratio | 0.48 | 0.99 |
| Sortino ratio | 0.66 | 1.37 |
| Maximum drawdown | −7.4% (30-03-2026) | −8.6% (23-03-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 | SBI Balanced Advantage Fund (Direct) | SBI Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.41% | +12.53% |
| Standard deviation | 6.40% | 7.38% |
| Sharpe ratio | 0.56 | 0.91 |
| Sortino ratio | 0.78 | 1.26 |
| Maximum drawdown | −7.4% (30-03-2026) | −8.6% (23-03-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 | SBI Balanced Advantage Fund (Direct) | SBI Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.45% | +11.91% |
| Standard deviation | 6.34% | 6.46% |
| Sharpe ratio | 0.59 | 0.91 |
| Sortino ratio | 0.81 | 1.25 |
| Maximum drawdown | −7.4% (30-03-2026) | −17.6% (23-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 07-09-2021 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.
SBI Balanced Advantage Fund (Direct)
SBI Multi Asset Allocation Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| SBI Balanced Advantage Fund (Direct) | −7.4% | 02-01-2026 | 30-03-2026 | 03-08-2026 | 4 months | −5.4% |
| SBI Multi Asset Allocation Fund (Direct) | −8.6% | 29-01-2026 | 23-03-2026 | Not yet | -- | −5.2% |
From daily values since 07-09-2021, 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.
SBI Balanced Advantage Fund (Direct)
SBI Multi Asset Allocation Fund (Direct)
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.
SBI Balanced Advantage Fund (Direct)
SBI Multi Asset Allocation Fund (Direct)
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.
SBI Balanced Advantage Fund (Direct)
SBI Multi Asset Allocation Fund (Direct)
SBI Balanced Advantage vs SBI Multi Asset Allocation: Portfolio Overlap
From each fund's latest monthly portfolio: SBI Balanced Advantage Fund, September 2026; SBI Multi Asset Allocation Fund, September 2026
Holdings in common
- Overlap
- 36.6%
- Held by both
- 52
- Only in SBI Balanced Advantage
- 72
- Only in SBI Multi Asset Allocation
- 76
| Security | % of SBI Balanced Advantage | % of SBI Multi Asset Allocation |
|---|---|---|
| GAIL (India) Ltd. | 2.54% | 1.89% |
| HDFC Bank Ltd. | 3.68% | 1.77% |
| Cholamandalam Investment & Finance Co. Ltd.Perpetual | 1.57% | 2.21% |
| Bandhan Bank Ltd. | 1.47% | 1.74% |
| ICICI Bank Ltd. | 3.58% | 1.46% |
| Indus Towers Ltd. | 1.93% | 1.45% |
| Brookfield India Real Estate Trust | 1.32% | 2.42% |
| Muthoot Finance Ltd. | 1.23% | 1.19% |
| Biocon Ltd. | 1.19% | 1.39% |
| CESC Ltd. | 1.22% | 1.18% |
| Punjab National Bank | 1.86% | 1.13% |
| Adani Power Ltd. | 1.11% | 1.30% |
| Kotak Mahindra Bank Ltd. | 1.10% | 1.33% |
| Delhivery Ltd. | 1.09% | 1.68% |
| Axis Bank Ltd. | 1.80% | 1.05% |
| Mahindra & Mahindra Financial Services Ltd. | 1.05% | 1.43% |
| JSW JFE Kalinga Steel Ltd. | 1.03% | 1.24% |
| Knowledge Realty Trust | 1.02% | 0.99% |
| Reliance Industries Ltd. | 4.24% | 0.97% |
| Embassy Office Parks Reit | 0.89% | 1.97% |
| NHPC Ltd. | 1.04% | 0.79% |
| Motilal Oswal Financial Services Ltd. | 0.80% | 0.71% |
| Oil & Natural Gas Corporation Ltd. | 0.64% | 1.23% |
| Sona Blw Precision Forgings Ltd. | 0.79% | 0.60% |
| 91 DAY T-BILL 27.11.26 | 0.49% | 0.71% |
| Muthoot Finance Ltd. | 0.49% | 0.71% |
| Torrent Power Ltd. | 0.49% | 0.83% |
| Bharti Telecom Ltd. | 0.48% | 0.70% |
| ITC Ltd. | 1.28% | 0.47% |
| Tata Power Company Ltd. | 0.79% | 0.47% |
| HCL Technologies Ltd. | 1.31% | 0.46% |
| Bajaj Finserv Ltd. | 0.46% | 0.92% |
| Bharti Telecom Ltd. | 0.44% | 0.84% |
| Bank of Baroda | 1.23% | 0.43% |
| State Bank of India | 0.74% | 0.43% |
| Dabur India Ltd. | 0.55% | 0.43% |
| Muthoot Finance Ltd. | 0.37% | 0.71% |
| UPL Ltd. | 0.37% | 0.84% |
| Cohance Lifesciences Ltd. | 0.33% | 1.10% |
| Indian Oil Corporation Ltd. | 0.26% | 0.64% |
| Vishal Mega Mart Ltd. | 0.41% | 0.24% |
| Reliance Industries Ltd. | 0.25% | 0.24% |
| 6.01% CGL 2030 | 0.24% | 0.46% |
| Wipro Ltd. | 0.33% | 0.23% |
| ICICI Prudential Life Insurance Company Ltd. | 0.62% | 0.21% |
| Muthoot Finance Ltd. | 0.21% | 0.36% |
| Life Insurance Corporation of India | 0.47% | 0.19% |
| Tata Steel Ltd. | 1.84% | 0.17% |
| Bharti Airtel Ltd. | 1.36% | 0.13% |
| Mahindra Rural Housing Finance Ltd. | 0.37% | 0.12% |
| Infosys Ltd. | 0.10% | 0.16% |
| Syngene International Ltd. | 0.06% | 1.22% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 36.6% means 36.6% 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 SBI Balanced Advantage Fund
| Security | % of fund |
|---|---|
| Larsen & Toubro Ltd. | 2.44% |
| Tech Mahindra Ltd. | 2.06% |
| 364 DAY T-BILL 04.03.27 | 2.05% |
| Sun Pharmaceutical Industries Ltd. | 1.67% |
| Tata Motors Passenger Vehicles Ltd. | 1.58% |
Largest holdings only in SBI Multi Asset Allocation Fund
| Security | % of fund |
|---|---|
| SBI Gold ETF | 6.42% |
| SBI Silver ETF | 3.57% |
| National Bank for Agriculture and Rural Development | 1.40% |
| JTPM Metal Traders Ltd. | 1.28% |
| Samvardhana Motherson International Ltd. | 1.26% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | SBI Balanced Advantage | SBI Multi Asset Allocation |
|---|---|---|
| Equity | 67.4% | 44.9% |
| Debt | 23.2% | 32.2% |
| Cash and others | 9.4% | 22.9% |
Market cap of stocks
| Market cap | SBI Balanced Advantage | SBI Multi Asset Allocation |
|---|---|---|
| Large Cap | 49.6% | 19.4% |
| Mid Cap | 10.5% | 9.0% |
| Small Cap | 7.3% | 15.4% |
| Not on AMFI's list | 0.0% | 1.1% |
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 | SBI Balanced Advantage | SBI Multi Asset Allocation |
|---|---|---|
| Banks | 15.9% | 9.4% |
| Power | 4.9% | 2.0% |
| Petroleum Products | 4.5% | 1.6% |
| Pharmaceuticals & Biotechnology | 4.3% | 3.3% |
| IT - Software | 4.0% | 0.8% |
| Retailing | 3.8% | 1.3% |
| Finance | 3.0% | 2.4% |
| Auto Components | 0.8% | 2.7% |
| Transport Services | 1.5% | 2.4% |
The six largest sectors of each fund's stocks, % of the fund.
SBI Balanced Advantage vs SBI Multi Asset Allocation: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | SBI Balanced Advantage Fund | SBI Multi Asset Allocation Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.86% | 0.66% |
| Base expense ratio (Direct) | 0.60% | 0.48% |
| Total expense ratio (Regular) | 1.67% | 1.39% |
| Base expense ratio (Regular) | 1.29% | 1.10% |
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 SBI Balanced Advantage with
Compare SBI Multi Asset Allocation with
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SBI Balanced Advantage Fund vs SBI Multi Asset Allocation Fund: Frequently Asked Questions
What is the difference between SBI Balanced Advantage Fund and SBI Multi Asset Allocation Fund?
SBI Balanced Advantage Fund is a Balanced Advantage fund, SBI Multi Asset Allocation Fund is a Multi Asset fund, run by SBI Mutual Fund. Their portfolios overlap 36.6%. SBI Balanced Advantage Fund charges 0.86% a year and SBI Multi Asset Allocation Fund 0.66%.
Which has given higher returns, SBI Balanced Advantage Fund or SBI Multi Asset Allocation Fund?
Over 1 year: SBI Balanced Advantage Fund −3.13%, SBI Multi Asset Allocation Fund +2.50%. Over 3 years: SBI Balanced Advantage Fund +9.33% a year, SBI Multi Asset Allocation Fund +13.91% a year. Over 5 years: SBI Balanced Advantage Fund +9.41% a year, SBI Multi Asset Allocation Fund +12.53% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, SBI Balanced Advantage Fund or SBI Multi Asset Allocation Fund?
SBI Multi Asset Allocation Fund charges less: 0.66% a year against 0.86%. These are the Direct plans' total expense ratios reported to AMFI.
How much do SBI Balanced Advantage Fund and SBI Multi Asset Allocation Fund overlap?
36.6%. They hold 52 of the same securities, the largest shared ones being GAIL, HDFCBANK, Cholamandalam Investment & Finance Co. Ltd.Perpetual. From each fund's latest monthly portfolio.
Which is riskier, SBI Balanced Advantage Fund or SBI Multi Asset Allocation Fund?
On SEBI's riskometer, SBI Balanced Advantage Fund is rated High and SBI Multi Asset Allocation Fund Very High. Over 3 years, the standard deviation of daily returns was 6.81% and 7.94% a year.
Which is better for SIP, SBI Balanced Advantage Fund or SBI 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 ₹7,46,857 in SBI Balanced Advantage Fund (XIRR 7.9% a year) and ₹8,34,399 in SBI Multi Asset Allocation Fund (XIRR 12.3% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both SBI Balanced Advantage Fund and SBI Multi Asset Allocation Fund?
Yes. 36.6% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages SBI Balanced Advantage Fund and SBI Multi Asset Allocation Fund?
SBI Balanced Advantage Fund: Dinesh Balachandran, Anup Upadhyay. SBI Multi Asset Allocation Fund: Mansi Sajeja, Dinesh Balachandran, Vandna Soni.
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.