SBI Equity Savings Fund vs SBI Multi Asset Allocation Fund
Direct Plan, Growth option · Data as on 30-10-2026
SBI Equity Savings Fund is an Equity Savings fund and SBI Multi Asset Allocation Fund is a Multi Asset fund. In the 3 years to 30-10-2026, SBI Equity Savings Fund (Direct) returned 7.9% a year and SBI Multi Asset Allocation Fund (Direct) returned 13.9% a year. SBI Equity Savings Fund charges 1.46% a year and SBI Multi Asset Allocation Fund 0.66% (Direct plans). Their portfolios overlap 20.8%: they hold 36 of the same securities.
SBI Equity Savings Fund
Equity Savings
- 3 year return
- 7.9%
- Expense ratio
- 1.46%
- NAV
- ₹27.27
SBI Multi Asset Allocation Fund
Multi Asset
- 3 year return
- 13.9%
- Expense ratio
- 0.66%
- NAV
- ₹71.85
Which is better, SBI Equity Savings 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 8.0%.
- SBI Multi Asset Allocation returned more over 3 years: 13.9% a year against 7.9%.
- SBI Multi Asset Allocation costs less: 0.66% a year against 1.46% (Direct plans).
- SBI Equity Savings swung less over 3 years: a standard deviation of 4.8% a year against 7.9%.
- SBI Multi Asset Allocation fell less in its worst fall since 03-06-2015: −17.6% against −19.5%.
- SBI Equity Savings holds more in large companies: 57.1% of the fund in large caps against 19.4%.
- SBI Multi Asset Allocation is the larger fund: ₹21,044 Cr against ₹5,413 Cr.
- Their portfolios overlap 20.8%: 36 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 Equity Savings Fund | SBI Multi Asset Allocation Fund |
|---|---|---|
| Fund house | SBI Mutual Fund | SBI Mutual Fund |
| Category | Equity Savings | Multi Asset |
| AUM | ₹5,413 Cr (30-09-2026) | ₹21,044 Cr (30-09-2026) |
| NAV | ₹27.27 (Direct) | ₹71.85 (Direct) |
| Expense ratio (Direct) | 1.46% | 0.66% |
| Expense ratio (Regular) | 2.00% | 1.39% |
| Riskometer | Moderate | Very High |
| Benchmark | Nifty Equity Savings Index | 45% BSE 500 TRI + 40% Crisil Composite Bond Fund Index + 10% Domestic Prices of Gold + 5% Domestic Prices of Silver. |
| Launch date | 27-05-2015 | 21-12-2005 |
| Minimum investment | ₹1,000 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Neeraj Kumar - Arbitrage, Mansi Sajeja, Nidhi Chawla, Vandna Soni | Mansi Sajeja, Dinesh Balachandran, Vandna Soni |
| Exit load | Exit load of 0.10% if redeemed within 15 days. | For units in excess of 10% of the investment, 1% will be charged for redemption within 12 months |
SBI Equity Savings 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 Equity Savings Fund (Direct) | +0.07% | −0.47% | +1.05% | +1.43% | +7.91% | +7.95% | +8.92% |
| SBI Multi Asset Allocation Fund (Direct) | −2.02% | −3.49% | −2.44% | +2.50% | +13.91% | +12.53% | +11.56% |
| Equity Savings average | −0.02% | −0.68% | +1.71% | +2.12% | +8.55% | +7.55% | +8.43% |
| Multi Asset average | −1.71% | −3.33% | −1.78% | +2.00% | +14.20% | +12.56% | +12.92% |
Category average: the average of the 23 Equity Savings funds and the 37 Multi Asset funds, same plan type.
SBI Equity Savings vs SBI Multi Asset Allocation: Year-wise Returns
| Year | Equity SavingsSBI Equity Savings | Multi Asset AllocationSBI Multi Asset Allocation |
|---|---|---|
| 2026to date | +1.07% | −1.49% |
| 2025 | +5.62% | +19.58% |
| 2024 | +12.59% | +13.87% |
| 2023 | +18.13% | +25.48% |
| 2022 | +2.40% | +6.96% |
| 2021 | +13.94% | +13.96% |
SBI Equity Savings vs SBI Multi Asset Allocation: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 2,079 of them, one for each trading day from 04-06-2018 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 Equity Savings Fund (Direct)
SBI Multi Asset Allocation Fund (Direct)
to
Feb 2019Jul 2017
to
Jul 2020Dec 2018
to
Dec 2021May 2020
to
May 2023Oct 2021
to
Oct 2024Feb 2023
to
Feb 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 Equity Savings | 0.0 | 4.8 | 41.6 | 53.1 | 0.5 | 0.0 | 0.0 | 10.0% | 10.2% | 0.5% | 16.8% |
| SBI Multi Asset Allocation | 0.0 | 0.8 | 33.5 | 35.7 | 28.4 | 1.6 | 0.0 | 12.5% | 13.1% | 1.3% | 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 03-06-2015. Past returns do not promise future returns.
SBI Equity Savings 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 03-06-2015 to 30-10-2026: 137 instalments, ₹13,70,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| SBI Equity SavingsSBI Equity Savings Fund (Direct) | ₹13,70,000 | ₹23,51,334 | ₹9,81,334 | 9.1% |
| SBI Multi Asset AllocationSBI Multi Asset Allocation Fund (Direct) | ₹13,70,000 | ₹28,65,103 | ₹14,95,103 | 12.3% |
SBI Equity SavingsSBI Equity Savings 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 Equity Savings 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 Equity Savings Fund (Direct) | SBI Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +1.43% | +2.50% |
| Standard deviation | 3.77% | 9.13% |
| Sharpe ratio | -1.01 | -0.30 |
| Sortino ratio | -1.34 | -0.40 |
| Maximum drawdown | −3.0% (23-03-2026) | −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 Equity Savings Fund (Direct) | SBI Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.91% | +13.91% |
| Standard deviation | 4.77% | 7.94% |
| Sharpe ratio | 0.39 | 0.99 |
| Sortino ratio | 0.54 | 1.37 |
| Maximum drawdown | −6.4% (03-03-2025) | −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 Equity Savings Fund (Direct) | SBI Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.95% | +12.53% |
| Standard deviation | 5.05% | 7.38% |
| Sharpe ratio | 0.43 | 0.91 |
| Sortino ratio | 0.57 | 1.26 |
| Maximum drawdown | −7.1% (20-06-2022) | −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 Equity Savings Fund (Direct) | SBI Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.23% | +11.91% |
| Standard deviation | 6.52% | 6.46% |
| Sharpe ratio | 0.56 | 0.91 |
| Sortino ratio | 0.75 | 1.25 |
| Maximum drawdown | −19.5% (23-03-2020) | −17.6% (23-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 03-06-2015 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 Equity Savings 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 Equity Savings Fund (Direct) | −19.5% | 12-02-2020 | 23-03-2020 | 28-08-2020 | 5 months | −1.1% |
| SBI Multi Asset Allocation Fund (Direct) | −17.6% | 20-02-2020 | 23-03-2020 | 23-06-2020 | 3 months | −5.2% |
From daily values since 03-06-2015, 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 Equity Savings 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 Equity Savings 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 Equity Savings Fund (Direct)
SBI Multi Asset Allocation Fund (Direct)
SBI Equity Savings vs SBI Multi Asset Allocation: Portfolio Overlap
From each fund's latest monthly portfolio: SBI Equity Savings Fund, September 2026; SBI Multi Asset Allocation Fund, September 2026
Holdings in common
- Overlap
- 20.8%
- Held by both
- 36
- Only in SBI Equity Savings
- 69
- Only in SBI Multi Asset Allocation
- 92
| Security | % of SBI Equity Savings | % of SBI Multi Asset Allocation |
|---|---|---|
| Cholamandalam Investment & Finance Co. Ltd.Perpetual | 2.72% | 2.21% |
| HDFC Bank Ltd. | 5.80% | 1.77% |
| ICICI Bank Ltd. | 5.14% | 1.46% |
| Kotak Mahindra Bank Ltd. | 6.73% | 1.33% |
| Brookfield India Real Estate Trust | 1.18% | 2.42% |
| Embassy Office Parks Reit | 1.13% | 1.97% |
| Axis Bank Ltd. | 1.63% | 1.05% |
| JTPM Metal Traders Ltd. | 1.00% | 1.28% |
| Reliance Industries Ltd. | 5.04% | 0.97% |
| GMR Airports Ltd. | 0.79% | 0.89% |
| Aurobindo Pharma Ltd. | 1.95% | 0.77% |
| Motilal Oswal Financial Services Ltd. | 1.38% | 0.71% |
| Motilal Oswal Finvest Ltd. | 0.93% | 0.57% |
| Oil & Natural Gas Corporation Ltd. | 0.53% | 1.23% |
| Indus Towers Ltd. | 0.51% | 1.45% |
| Indostar Capital Finance Ltd. | 1.39% | 0.48% |
| National Bank for Agriculture and Rural Development | 1.84% | 0.47% |
| 6.01% CGL 2030 | 1.35% | 0.46% |
| Hindustan Aeronautics Ltd. | 0.63% | 0.44% |
| Bank of Baroda | 1.64% | 0.43% |
| State Bank of India | 1.20% | 0.43% |
| Punjab National Bank | 0.27% | 1.13% |
| Samvardhana Motherson International Ltd. | 0.26% | 1.26% |
| Colgate Palmolive (India) Ltd. | 0.44% | 0.25% |
| Life Insurance Corporation of India | 2.29% | 0.19% |
| Muthoot Finance Ltd. | 0.19% | 0.36% |
| Tata Steel Ltd. | 0.42% | 0.17% |
| Infosys Ltd. | 1.15% | 0.16% |
| Bharti Airtel Ltd. | 3.58% | 0.13% |
| Mahindra Rural Housing Finance Ltd. | 0.84% | 0.12% |
| Jubilant Foodworks Ltd. | 0.11% | 0.14% |
| Steel Authority of India Ltd. | 0.32% | 0.09% |
| Dabur India Ltd. | 0.08% | 0.43% |
| Bandhan Bank Ltd. | 0.06% | 1.74% |
| Indian Oil Corporation Ltd. | 0.02% | 0.64% |
| UPL Ltd. | 0.01% | 0.84% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 20.8% means 20.8% 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 SBI Equity Savings Fund
| Security | % of fund |
|---|---|
| SBI Liquid Fund - DIRECT PLAN -Growth Option | 2.92% |
| 7.10% CGL 2034 | 2.30% |
| Altius Telecom Infrastructure Trust | 2.20% |
| Ultratech Cement Ltd. | 2.02% |
| SBI Money Market Fund - Direct Plan - Growth Option | 1.93% |
Largest holdings only in SBI Multi Asset Allocation Fund
| Security | % of fund |
|---|---|
| SBI Gold ETF | 6.42% |
| SBI Silver ETF | 3.57% |
| GAIL (India) Ltd. | 1.89% |
| Delhivery Ltd. | 1.68% |
| Mahindra & Mahindra Financial Services Ltd. | 1.43% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | SBI Equity Savings | SBI Multi Asset Allocation |
|---|---|---|
| Equity | 66.2% | 44.9% |
| Debt | 21.1% | 32.2% |
| Cash and others | 12.7% | 22.9% |
Market cap of stocks
| Market cap | SBI Equity Savings | SBI Multi Asset Allocation |
|---|---|---|
| Large Cap | 57.1% | 19.4% |
| Mid Cap | 8.6% | 9.0% |
| Small Cap | 0.5% | 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 Equity Savings | SBI Multi Asset Allocation |
|---|---|---|
| Banks | 23.0% | 9.4% |
| Petroleum Products | 5.1% | 1.6% |
| Telecom - Services | 4.1% | 1.6% |
| Automobiles | 4.0% | 0.0% |
| Insurance | 3.9% | 0.4% |
| Pharmaceuticals & Biotechnology | 2.5% | 3.3% |
| Finance | 3.1% | 2.4% |
| Auto Components | 0.4% | 2.7% |
| Transport Services | 0.0% | 2.4% |
| Power | 1.5% | 2.0% |
The six largest sectors of each fund's stocks, % of the fund.
SBI Equity Savings vs SBI Multi Asset Allocation: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | SBI Equity Savings Fund | SBI Multi Asset Allocation Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.46% | 0.66% |
| Base expense ratio (Direct) | 0.80% | 0.48% |
| Total expense ratio (Regular) | 2.00% | 1.39% |
| Base expense ratio (Regular) | 1.26% | 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 Equity Savings with
Compare SBI Multi Asset Allocation with
- SBI Multi Asset Allocation vs Quant Multi Asset Allocation
- SBI Multi Asset Allocation vs Nippon India Multi Asset Allocation
- SBI Multi Asset Allocation vs DSP Multi Asset Allocation
- SBI Multi Asset Allocation vs Kotak Multi Asset Allocation
- SBI Multi Asset Allocation vs WhiteOak Capital Multi Asset Allocation
SBI Equity Savings Fund vs SBI Multi Asset Allocation Fund: Frequently Asked Questions
What is the difference between SBI Equity Savings Fund and SBI Multi Asset Allocation Fund?
SBI Equity Savings Fund is an Equity Savings fund, SBI Multi Asset Allocation Fund is a Multi Asset fund, run by SBI Mutual Fund. Their portfolios overlap 20.8%. SBI Equity Savings Fund charges 1.46% a year and SBI Multi Asset Allocation Fund 0.66%.
Which has given higher returns, SBI Equity Savings Fund or SBI Multi Asset Allocation Fund?
Over 1 year: SBI Equity Savings Fund +1.43%, SBI Multi Asset Allocation Fund +2.50%. Over 3 years: SBI Equity Savings Fund +7.91% a year, SBI Multi Asset Allocation Fund +13.91% a year. Over 5 years: SBI Equity Savings Fund +7.95% 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 Equity Savings Fund or SBI Multi Asset Allocation Fund?
SBI Multi Asset Allocation Fund charges less: 0.66% a year against 1.46%. These are the Direct plans' total expense ratios reported to AMFI.
How much do SBI Equity Savings Fund and SBI Multi Asset Allocation Fund overlap?
20.8%. They hold 36 of the same securities, the largest shared ones being Cholamandalam Investment & Finance Co. Ltd.Perpetual, HDFCBANK, ICICIBANK. From each fund's latest monthly portfolio.
Which is riskier, SBI Equity Savings Fund or SBI Multi Asset Allocation Fund?
On SEBI's riskometer, SBI Equity Savings Fund is rated Moderate and SBI Multi Asset Allocation Fund Very High. Over 3 years, the standard deviation of daily returns was 4.77% and 7.94% a year.
Which is better for SIP, SBI Equity Savings 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 ₹7,40,190 in SBI Equity Savings Fund (XIRR 7.6% 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 Equity Savings Fund and SBI Multi Asset Allocation Fund?
Yes. 20.8% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages SBI Equity Savings Fund and SBI Multi Asset Allocation Fund?
SBI Equity Savings Fund: Neeraj Kumar - Arbitrage, Mansi Sajeja, Nidhi Chawla, Vandna Soni. 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.