SBI Multi Asset Allocation Fund vs Sundaram Multi-Factor Fund
Direct Plan, Growth option · Data as on 29-10-2026
SBI Multi Asset Allocation Fund is a Multi Asset fund and Sundaram Multi-Factor Fund is a Thematic fund. In the year to 30-10-2026, SBI Multi Asset Allocation Fund (Direct) returned 2.5% and Sundaram Multi-Factor Fund (Direct) returned −9.3%. SBI Multi Asset Allocation Fund charges 0.66% a year and Sundaram Multi-Factor Fund 1.68% (Direct plans). Their portfolios overlap 17.5%: they hold 21 of the same securities.
SBI Multi Asset Allocation Fund
Multi Asset
- 1 year return
- 2.5%
- Expense ratio
- 0.66%
- NAV
- ₹71.85
Sundaram Multi-Factor Fund
Thematic
- 1 year return
- −9.3%
- Expense ratio
- 1.68%
- NAV
- ₹9.40
Which is better, SBI Multi Asset Allocation or Sundaram Multi-Factor? 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 1 year: 2.5% against −9.3%.
- SBI Multi Asset Allocation costs less: 0.66% a year against 1.68% (Direct plans).
- SBI Multi Asset Allocation fell less in its worst fall since 23-07-2025: −8.6% against −14.9%.
- Sundaram Multi-Factor holds more in large companies: 59.7% of the fund in large caps against 19.4%.
- SBI Multi Asset Allocation is the larger fund: ₹21,044 Cr against ₹790 Cr.
- Their portfolios overlap 17.5%: 21 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 Multi Asset Allocation Fund | Sundaram Multi-Factor Fund |
|---|---|---|
| Fund house | SBI Mutual Fund | Sundaram Mutual Fund |
| Category | Multi Asset | Thematic |
| AUM | ₹21,044 Cr (30-09-2026) | ₹790 Cr (30-09-2026) |
| NAV | ₹71.85 (Direct) | ₹9.40 (Direct) |
| Expense ratio (Direct) | 0.66% | 1.68% |
| Expense ratio (Regular) | 1.39% | 3.14% |
| Riskometer | Very High | Very High |
| Benchmark | 45% BSE 500 TRI + 40% Crisil Composite Bond Fund Index + 10% Domestic Prices of Gold + 5% Domestic Prices of Silver. | BSE 200 TRI |
| Launch date | 21-12-2005 | 22-07-2025 |
| Minimum investment | ₹5,000 | ₹100 |
| Lock in | None | None |
| Fund managers | Mansi Sajeja, Dinesh Balachandran, Vandna Soni | Rohit Seksaria, S. Bharath, Sandeep Agarwal |
| Exit load | For units in excess of 10% of the investment, 1% will be charged for redemption within 12 months | 1% of the applicable NAV - Any redemptions, switch or withdrawals by way of SWP would be subject to an exit load within 365 days from the date of allotment. NIL - if the units are redeemed after 365 days from the date of allotment of units. Further, exit load will be waived on Intra-scheme Switch-outs/STP. Generally, the exit load will be calculated on First in First out (FIFO) basis. |
SBI Multi Asset Allocation vs Sundaram Multi-Factor: 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 Multi Asset Allocation Fund (Direct) | −2.02% | −3.49% | −2.44% | +2.50% | +13.91% | +12.53% | +11.56% |
| Sundaram Multi-Factor Fund (Direct) | −0.69% | −4.81% | −5.99% | −9.32% | -- | -- | -- |
| Multi Asset average | −1.71% | −3.33% | −1.78% | +2.00% | +14.20% | +12.56% | +12.92% |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | -- | -- | -- |
Category average: the average of the 37 Multi Asset funds and the 235 Thematic funds, same plan type.
SBI Multi Asset Allocation vs Sundaram Multi-Factor: Year-wise Returns
| Year | SBI Multi Asset AllocationSBI Multi Asset Allocation | Sundaram Multi-FactorSundaram Multi-Factor |
|---|---|---|
| 2026to date | −1.49% | −11.37% |
| 2025 | +19.58% | -- |
| 2024 | +13.87% | -- |
| 2023 | +25.48% | -- |
| 2022 | +6.96% | -- |
| 2021 | +13.96% | -- |
SBI Multi Asset Allocation vs Sundaram Multi-Factor: Rolling Returns
Every holding period of both funds, against BSE 200 TRI, the benchmark of Sundaram Multi-Factor Fund
Rolling returns
Every 1-year holding period, 67 of them, one for each trading day from 23-07-2026 to 29-10-2026: 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 Multi Asset Allocation Fund (Direct)
Sundaram Multi-Factor Fund (Direct)
BSE 200 TRI
to
Jul 2026Aug 2025
to
Aug 2026Sept 2025
to
Sept 2026Sept 2025
to
Sept 2026Oct 2025
to
Oct 2026Oct 2025
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SBI Multi Asset Allocation | 0.0 | 16.4 | 25.4 | 43.3 | 14.9 | 0.0 | 0.0 | 10.4% | 11.6% | 1.9% | 16.0% | 100% |
| Sundaram Multi-Factor | 79.1 | 20.9 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | −3.4% | −2.4% | −11.4% | 3.1% | 0% |
| BSE 200 TRI | 53.7 | 44.8 | 1.5 | 0.0 | 0.0 | 0.0 | 0.0 | −1.5% | −1.2% | −9.8% | 5.6% | -- |
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. The benchmark is BSE 200 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 23-07-2025. Past returns do not promise future returns.
SBI Multi Asset Allocation vs Sundaram Multi-Factor: 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 01-07-2025 to 29-10-2026: 16 instalments, ₹1,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| SBI Multi Asset AllocationSBI Multi Asset Allocation Fund (Direct) | ₹1,60,000 | ₹1,61,258 | ₹1,258 | 1.1% |
| Sundaram Multi-FactorSundaram Multi-Factor Fund (Direct) | ₹1,60,000 | ₹1,50,005 | −₹9,995 | −8.9% |
SBI Multi Asset AllocationSBI Multi Asset Allocation Fund (Direct)
Sundaram Multi-FactorSundaram Multi-Factor 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 Multi Asset Allocation vs Sundaram Multi-Factor: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | SBI Multi Asset Allocation Fund (Direct) | Sundaram Multi-Factor Fund (Direct) |
|---|---|---|
| Return (CAGR) | +2.50% | −9.32% |
| Standard deviation | 9.13% | 14.46% |
| Sharpe ratio | -0.30 | -1.01 |
| Sortino ratio | -0.40 | -1.32 |
| Maximum drawdown | −8.6% (23-03-2026) | −14.9% (31-03-2026) |
| Beta | -- | 0.98 |
| Alpha | -- | −1.35% |
From daily NAVs, 29-10-2025 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.
| Measure | SBI Multi Asset Allocation Fund (Direct) | Sundaram Multi-Factor Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.91% | −4.83% |
| Standard deviation | 6.46% | 13.38% |
| Sharpe ratio | 0.91 | -0.76 |
| Sortino ratio | 1.25 | -1.00 |
| Maximum drawdown | −17.6% (23-03-2020) | −14.9% (31-03-2026) |
| Beta | -- | 0.95 |
| Alpha | -- | −0.73% |
From daily NAVs, 19-03-2013 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.
SBI Multi Asset Allocation Fund (Direct)
Sundaram Multi-Factor Fund (Direct)
BSE 200 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| SBI Multi Asset Allocation Fund (Direct) | −8.6% | 29-01-2026 | 23-03-2026 | Not yet | -- | −5.2% |
| Sundaram Multi-Factor Fund (Direct) | −14.9% | 02-01-2026 | 31-03-2026 | Not yet | -- | −12.6% |
| BSE 200 TRI | −14.7% | 02-01-2026 | 30-03-2026 | Not yet | -- | −9.9% |
From daily values since 23-07-2025, 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 Multi Asset Allocation Fund (Direct)
Sundaram Multi-Factor Fund (Direct)
BSE 200 TRI
Against BSE 200 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| SBI Multi Asset Allocation Fund (Direct) | 65% | 18% | 8.80% |
| Sundaram Multi-Factor Fund (Direct) | 76% | 88% | 4.24% |
From month-end values since 23-07-2025. 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.
SBI Multi Asset Allocation vs Sundaram Multi-Factor: Portfolio Overlap
From each fund's latest monthly portfolio: SBI Multi Asset Allocation Fund, September 2026; Sundaram Multi-Factor Fund, September 2026
Holdings in common
- Overlap
- 17.5%
- Held by both
- 21
- Only in SBI Multi Asset Allocation
- 107
- Only in Sundaram Multi-Factor
- 47
| Security | % of SBI Multi Asset Allocation | % of Sundaram Multi-Factor |
|---|---|---|
| HDFC Bank Ltd. | 1.77% | 3.05% |
| ICICI Bank Ltd. | 1.46% | 2.65% |
| Indus Towers Ltd. | 1.45% | 1.36% |
| GAIL (India) Ltd. | 1.89% | 1.36% |
| Oil & Natural Gas Corporation Ltd. | 1.23% | 1.31% |
| Samvardhana Motherson International Ltd. | 1.26% | 1.18% |
| Punjab National Bank | 1.13% | 1.32% |
| Axis Bank Ltd. | 1.05% | 1.12% |
| Reliance Industries Ltd. | 0.97% | 2.33% |
| FSN E-Commerce Ventures Ltd. | 0.97% | 1.17% |
| Kotak Mahindra Bank Ltd. | 1.33% | 0.93% |
| Bajaj Finserv Ltd. | 0.92% | 1.39% |
| Aurobindo Pharma Ltd. | 0.77% | 1.21% |
| Sona Blw Precision Forgings Ltd. | 0.60% | 1.26% |
| ITC Ltd. | 0.47% | 1.31% |
| Bank of Baroda | 0.43% | 1.27% |
| Wipro Ltd. | 0.23% | 1.94% |
| Life Insurance Corporation of India | 0.19% | 1.42% |
| Tata Steel Ltd. | 0.17% | 1.63% |
| Infosys Ltd. | 0.16% | 2.00% |
| Bharti Airtel Ltd. | 0.13% | 1.53% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 17.5% means 17.5% 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 Multi Asset Allocation Fund
| Security | % of fund |
|---|---|
| SBI Gold ETF | 6.42% |
| SBI Silver ETF | 3.57% |
| Brookfield India Real Estate Trust | 2.42% |
| Cholamandalam Investment & Finance Co. Ltd.Perpetual | 2.21% |
| Embassy Office Parks Reit | 1.97% |
Largest holdings only in Sundaram Multi-Factor Fund
| Security | % of fund |
|---|---|
| Multi Commodity Exchange of India Ltd | 3.18% |
| Lupin Ltd | 2.79% |
| Bosch Ltd | 2.71% |
| Oracle Financial Services Software Ltd | 2.51% |
| Titan Company Ltd | 2.42% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | SBI Multi Asset Allocation | Sundaram Multi-Factor |
|---|---|---|
| Equity | 44.9% | 99.7% |
| Debt | 32.2% | 0.0% |
| Cash and others | 22.9% | 0.3% |
Market cap of stocks
| Market cap | SBI Multi Asset Allocation | Sundaram Multi-Factor |
|---|---|---|
| Large Cap | 19.4% | 59.7% |
| Mid Cap | 9.0% | 39.9% |
| Small Cap | 15.4% | 0.0% |
| Not on AMFI's list | 1.1% | 0.0% |
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 Multi Asset Allocation | Sundaram Multi-Factor |
|---|---|---|
| Banks | 9.4% | 14.0% |
| Electrical Equipment | 0.0% | 8.9% |
| Pharmaceuticals & Biotechnology | 3.3% | 8.9% |
| Finance | 2.4% | 8.0% |
| It - Software | 0.0% | 7.7% |
| Auto Components | 2.7% | 6.6% |
| Power | 2.0% | 2.6% |
| Transport Services | 2.4% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
SBI Multi Asset Allocation vs Sundaram Multi-Factor: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | SBI Multi Asset Allocation Fund | Sundaram Multi-Factor Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.66% | 1.68% |
| Base expense ratio (Direct) | 0.48% | 0.72% |
| Total expense ratio (Regular) | 1.39% | 3.14% |
| Base expense ratio (Regular) | 1.10% | 2.03% |
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
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SBI Multi Asset Allocation Fund vs Sundaram Multi-Factor Fund: Frequently Asked Questions
What is the difference between SBI Multi Asset Allocation Fund and Sundaram Multi-Factor Fund?
SBI Multi Asset Allocation Fund is a Multi Asset fund, Sundaram Multi-Factor Fund is a Thematic fund, run by SBI Mutual Fund and Sundaram Mutual Fund. Their portfolios overlap 17.5%. SBI Multi Asset Allocation Fund charges 0.66% a year and Sundaram Multi-Factor Fund 1.68%.
Which has given higher returns, SBI Multi Asset Allocation Fund or Sundaram Multi-Factor Fund?
Over 1 year: SBI Multi Asset Allocation Fund +2.50%, Sundaram Multi-Factor Fund −9.32%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, SBI Multi Asset Allocation Fund or Sundaram Multi-Factor Fund?
SBI Multi Asset Allocation Fund charges less: 0.66% a year against 1.68%. These are the Direct plans' total expense ratios reported to AMFI.
How much do SBI Multi Asset Allocation Fund and Sundaram Multi-Factor Fund overlap?
17.5%. They hold 21 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, INDUSTOWER. From each fund's latest monthly portfolio.
Which is riskier, SBI Multi Asset Allocation Fund or Sundaram Multi-Factor Fund?
On SEBI's riskometer, SBI Multi Asset Allocation Fund is rated Very High and Sundaram Multi-Factor Fund Very High. Over 1 years, the standard deviation of daily returns was 9.13% and 14.46% a year.
Can I invest in both SBI Multi Asset Allocation Fund and Sundaram Multi-Factor Fund?
Yes. 17.5% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages SBI Multi Asset Allocation Fund and Sundaram Multi-Factor Fund?
SBI Multi Asset Allocation Fund: Mansi Sajeja, Dinesh Balachandran, Vandna Soni. Sundaram Multi-Factor Fund: Rohit Seksaria, S. Bharath, Sandeep Agarwal.
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.