SBI Multi Asset Allocation Fund vs UTI Multi Asset Allocation Fund

Direct Plan, Growth option · Data as on 29-10-2026

SBI Multi Asset Allocation Fund and UTI Multi Asset Allocation Fund are both Multi Asset funds. In the 3 years to 30-10-2026, SBI Multi Asset Allocation Fund (Direct) returned 13.9% a year and UTI Multi Asset Allocation Fund (Direct) returned 13.7% a year. SBI Multi Asset Allocation Fund charges 0.66% a year and UTI Multi Asset Allocation Fund 0.89% (Direct plans). Their portfolios overlap 13.6%: they hold 23 of the same securities.

SBI Multi Asset Allocation Fund

Multi Asset

3 year return: 13.9%
Expense ratio: 0.66%
NAV: ₹71.85

See SBI Multi Asset Allocation Fund

UTI Multi Asset Allocation Fund

Multi Asset

3 year return: 13.7%
Expense ratio: 0.89%
NAV: ₹84.24

See UTI Multi Asset Allocation Fund

Which is better, SBI Multi Asset Allocation or UTI 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 12.3%.
SBI Multi Asset Allocation returned more over 3 years: 13.9% a year against 13.7%.
SBI Multi Asset Allocation costs less: 0.66% a year against 0.89% (Direct plans).
SBI Multi Asset Allocation swung less over 3 years: a standard deviation of 7.9% a year against 9.6%.
SBI Multi Asset Allocation fell less in its worst fall since 19-03-2013: −17.6% against −25.0%.
UTI Multi Asset Allocation holds more in large companies: 48.7% of the fund in large caps against 19.4%.
SBI Multi Asset Allocation is the larger fund: ₹21,044 Cr against ₹6,634 Cr.
Their portfolios overlap 13.6%: 23 of the same holdings.

Past returns do not promise future returns. This page is information, not investment advice.

NAV comparison

How each fund's NAV moved over the same days, as % change since the first day of the range

SBI Multi Asset Allocation Fund (Direct)
+362.8%
UTI Multi Asset Allocation Fund (Direct)
+285.3%

Change in NAV from 19-03-2013 to 29-10-2026

0%+100%+200%+300%+400%

Key facts

From each fund's scheme summary document and AMFI

Fact	SBI Multi Asset Allocation Fund	UTI Multi Asset Allocation Fund
Fund house	SBI Mutual Fund	UTI Mutual Fund
Category	Multi Asset	Multi Asset
AUM	₹21,044 Cr (30-09-2026)	₹6,634 Cr (30-09-2026)
NAV	₹71.85 (Direct)	₹84.24 (Direct)
Expense ratio (Direct)	0.66%	0.89%
Expense ratio (Regular)	1.39%	1.82%
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.	65% BSE 200 TRI + 25% CRISIL Composite Bond Index + 7% Domestic Price of Gold + 2% Domestic Price of Silver + 1% iCOMDEX
Launch date	21-12-2005	19-11-2008
Minimum investment	₹5,000	Regular Plan-Growth- Rs.5000, Regular Plan-Reinvestment of IDCW- Rs.5000, Regular Plan-Payout of IDCW- Rs.5000, Direct Plan-Growth- Rs.5000, Direct Plan-Reinvestment of IDCW- Rs.5000, Direct Plan-Payout of IDCW- Rs.5000,
Lock in	None	None
Fund managers	Mansi Sajeja, Dinesh Balachandran, Vandna Soni	Sharwan Kumar Goyal FM 1, Lokesh Kulthia - FM 2, Jaydeep Bhowal -FM 3
Exit load	For units in excess of 10% of the investment, 1% will be charged for redemption within 12 months	Exit load of 1%, if redeemed within 30 days.

SBI Multi Asset Allocation vs UTI 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 Multi Asset Allocation Fund (Direct)	−2.02%	−3.49%	−2.44%	+2.50%	+13.91%	+12.53%	+11.56%
UTI Multi Asset Allocation Fund (Direct)	−1.18%	−4.84%	−2.52%	−2.35%	+13.70%	+12.29%	+10.69%
Multi Asset average	−1.71%	−3.33%	−1.78%	+2.00%	+14.20%	+12.56%	+12.92%

Category average: the average of the 37 Multi Asset funds, same plan type.

SBI Multi Asset Allocation vs UTI Multi Asset Allocation: Year-wise Returns

Year	SBISBI Multi Asset Allocation	UTIUTI Multi Asset Allocation
2026to date	−1.49%	−4.97%
2025	+19.58%	+12.42%
2024	+13.87%	+21.90%
2023	+25.48%	+30.21%
2022	+6.96%	+5.34%
2021	+13.96%	+12.69%

SBI Multi Asset Allocation vs UTI Multi Asset Allocation: Rolling Returns

Every holding period of both funds

Rolling returns

Every 3-year holding period, 2,576 of them, one for each trading day from 21-03-2016 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.

−5%0%5%10%15%20%25%

Jan 2014
to
Jan 2017Nov 2015
to
Nov 2018Sept 2017
to
Sept 2020Jun 2019
to
Jun 2022Apr 2021
to
Apr 2024Dec 2022
to
Dec 2025

SBI Multi Asset Allocation Fund (Direct)UTI Multi Asset Allocation Fund (Direct)

How the periods spread

Fund	Below 0%	0-5%	5-10%	10-15%	15-20%	20-25%	Above 25%	Mean	Median	Lowest	Highest
SBI Multi Asset Allocation	0.0	0.6	29.0	46.6	22.5	1.3	0.0	12.5%	12.8%	1.3%	21.6%
UTI Multi Asset Allocation	0.9	6.1	43.1	21.0	21.0	8.0	0.0	11.4%	10.0%	−3.7%	24.3%

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 19-03-2013. Past returns do not promise future returns.

SBI Multi Asset Allocation vs UTI 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

Every month₹

Step up each year

PeriodFor

₹10,000 on the first trading day of every month, from 19-03-2013 to 29-10-2026: 164 instalments, ₹16,40,000 in all.

Investment	Invested	Value now	Gain	Return a year
SBI Multi Asset AllocationSBI Multi Asset Allocation Fund (Direct)	₹16,40,000	₹39,73,335	₹23,33,335	12.1%
UTI Multi Asset AllocationUTI Multi Asset Allocation Fund (Direct)	₹16,40,000	₹36,43,990	₹20,03,990	11.0%

₹0₹10.0 L₹20.0 L₹30.0 L₹40.0 L₹50.0 L

2014201620182020202220242026

SBI Multi Asset AllocationSBI Multi Asset Allocation Fund (Direct)UTI Multi Asset AllocationUTI 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 Multi Asset Allocation vs UTI Multi Asset Allocation: 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)	UTI Multi Asset Allocation Fund (Direct)
Return (CAGR)	+2.50%	−2.35%
Standard deviation	9.13%	11.67%
Sharpe ratio	-0.30	-0.65
Sortino ratio	-0.40	-0.86
Maximum drawdown	−8.6% (23-03-2026)	−11.0% (23-03-2026)
Beta	--	--
Alpha	--	--

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)	UTI Multi Asset Allocation Fund (Direct)
Return (CAGR)	+13.91%	+13.70%
Standard deviation	7.94%	9.63%
Sharpe ratio	0.99	0.80
Sortino ratio	1.37	1.10
Maximum drawdown	−8.6% (23-03-2026)	−11.0% (23-03-2026)
Beta	--	--
Alpha	--	--

From daily NAVs, 27-10-2023 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)	UTI Multi Asset Allocation Fund (Direct)
Return (CAGR)	+12.53%	+12.29%
Standard deviation	7.38%	9.28%
Sharpe ratio	0.91	0.70
Sortino ratio	1.26	0.96
Maximum drawdown	−8.6% (23-03-2026)	−11.4% (20-06-2022)
Beta	--	--
Alpha	--	--

From daily NAVs, 29-10-2021 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)	UTI Multi Asset Allocation Fund (Direct)
Return (CAGR)	+11.91%	+9.59%
Standard deviation	6.46%	10.26%
Sharpe ratio	0.91	0.35
Sortino ratio	1.25	0.47
Maximum drawdown	−17.6% (23-03-2020)	−25.0% (23-03-2020)
Beta	--	--
Alpha	--	--

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.

−30%−25%−20%−15%−10%−5%0%

2014201620182020202220242026

SBI Multi Asset Allocation Fund (Direct)UTI 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 Multi Asset Allocation Fund (Direct)	−17.6%	20-02-2020	23-03-2020	23-06-2020	3 months	−5.2%
UTI Multi Asset Allocation Fund (Direct)	−25.0%	19-02-2020	23-03-2020	23-07-2020	4 months	−7.0%

From daily values since 19-03-2013, 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 3-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.

0%5%10%15%

20172019202120232025

SBI Multi Asset Allocation Fund (Direct)UTI Multi Asset Allocation Fund (Direct)

SBI Multi Asset Allocation vs UTI Multi Asset Allocation: Portfolio Overlap

From each fund's latest monthly portfolio: SBI Multi Asset Allocation Fund, September 2026; UTI Multi Asset Allocation Fund, September 2026

Holdings in common

Overlap: 13.6%
Held by both: 23
Only in SBI Multi Asset Allocation: 105
Only in UTI Multi Asset Allocation: 103

Security	% of SBI Multi Asset Allocation	% of UTI Multi Asset Allocation
HDFC Bank Ltd.	1.77%	2.94%
ICICI Bank Ltd.	1.46%	3.23%
Embassy Office Parks Reit	1.97%	1.39%
Kotak Mahindra Bank Ltd.	1.33%	3.14%
Knowledge Realty Trust	0.99%	1.04%
Axis Bank Ltd.	1.05%	0.83%
Brookfield India Real Estate Trust	2.42%	0.80%
Reliance Industries Ltd.	0.97%	0.70%
Indus Towers Ltd.	1.45%	0.64%
ITC Ltd.	0.47%	2.57%
HCL Technologies Ltd.	0.46%	1.48%
State Bank of India	0.43%	1.55%
Vedanta Aluminium Metal Ltd.	0.39%	0.47%
Muthoot Finance Ltd.	1.19%	0.38%
Delhivery Ltd.	1.68%	0.35%
Colgate Palmolive (India) Ltd.	0.25%	0.84%
Bajaj Finserv Ltd.	0.92%	0.24%
Life Insurance Corporation of India	0.19%	0.33%
Infosys Ltd.	0.16%	1.61%
Bharti Airtel Ltd.	0.13%	0.88%
Dabur India Ltd.	0.43%	0.08%
Emami Ltd.	0.18%	0.07%
6.94% CGL 2036	0.12%	0.07%

Overlap: for each holding both funds own, the smaller of its two weights, added up. 13.6% means 13.6% 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 Multi Asset Allocation Fund

Security	% of fund
SBI Gold ETF	6.42%
SBI Silver ETF	3.57%
Cholamandalam Investment & Finance Co. Ltd.Perpetual	2.21%
GAIL (India) Ltd.	1.89%
Bandhan Bank Ltd.	1.74%

Largest holdings only in UTI Multi Asset Allocation Fund

Security	% of fund
MF UNITS UTI MF- GOLD EXCHANGE TRADED FUND ETF	13.63%
EQ - NESTLE INDIA LTD.	2.56%
EQ - TATA CONSULTANCY SERVICES LTD.	2.36%
EQ - BHARAT ELECTRONICS LTD.	1.83%
MF UNITS UTI MF- SILVER EXCHANGE TRADED FUND ETF	1.70%

Asset and sector split

Share of each fund, from its latest monthly portfolio

Asset allocation

Asset	SBI Multi Asset Allocation	UTI Multi Asset Allocation
Equity	44.9%	65.0%
Debt	32.2%	10.0%
Cash and others	22.9%	25.0%

Market cap of stocks

Market cap	SBI Multi Asset Allocation	UTI Multi Asset Allocation
Large Cap	19.4%	48.7%
Mid Cap	9.0%	13.3%
Small Cap	15.4%	2.8%
Not on AMFI's list	1.1%	0.2%

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	UTI Multi Asset Allocation
Banks	9.4%	14.3%
IT - Software	0.8%	7.0%
Food Products	0.0%	4.1%
Pharmaceuticals & Biotechnology	3.3%	3.6%
Diversified FMCG	0.5%	3.3%
Automobiles	0.0%	3.3%
Auto Components	2.7%	0.7%
Transport Services	2.4%	2.3%
Finance	2.4%	1.8%
Power	2.0%	0.0%

The six largest sectors of each fund's stocks, % of the fund.

SBI Multi Asset Allocation vs UTI Multi Asset Allocation: Expense Ratio

What each plan charges a year, from AMFI's expense ratio file

Charge	SBI Multi Asset Allocation Fund	UTI Multi Asset Allocation Fund
Total expense ratio (Direct)	0.66%	0.89%
Base expense ratio (Direct)	0.48%	0.64%
Total expense ratio (Regular)	1.39%	1.82%
Base expense ratio (Regular)	1.10%	1.47%

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 Multi Asset Allocation with

Compare UTI Multi Asset Allocation with

SBI Multi Asset Allocation Fund vs UTI Multi Asset Allocation Fund: Frequently Asked Questions

What is the difference between SBI Multi Asset Allocation Fund and UTI Multi Asset Allocation Fund?

Both are Multi Asset funds, run by SBI Mutual Fund and UTI Mutual Fund. Their portfolios overlap 13.6%. SBI Multi Asset Allocation Fund charges 0.66% a year and UTI Multi Asset Allocation Fund 0.89%.

Which has given higher returns, SBI Multi Asset Allocation Fund or UTI Multi Asset Allocation Fund?

Over 1 year: SBI Multi Asset Allocation Fund +2.50%, UTI Multi Asset Allocation Fund −2.35%. Over 3 years: SBI Multi Asset Allocation Fund +13.91% a year, UTI Multi Asset Allocation Fund +13.70% a year. Over 5 years: SBI Multi Asset Allocation Fund +12.53% a year, UTI Multi Asset Allocation Fund +12.29% a year. As on 30-10-2026. Past returns do not promise future returns.

Which has the lower expense ratio, SBI Multi Asset Allocation Fund or UTI Multi Asset Allocation Fund?

SBI Multi Asset Allocation Fund charges less: 0.66% a year against 0.89%. These are the Direct plans' total expense ratios reported to AMFI.

How much do SBI Multi Asset Allocation Fund and UTI Multi Asset Allocation Fund overlap?

13.6%. They hold 23 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, EMBASSY-RR. From each fund's latest monthly portfolio.

Which is riskier, SBI Multi Asset Allocation Fund or UTI Multi Asset Allocation Fund?

On SEBI's riskometer, SBI Multi Asset Allocation Fund is rated Very High and UTI Multi Asset Allocation Fund Very High. Over 3 years, the standard deviation of daily returns was 7.94% and 9.63% a year.

Which is better for SIP, SBI Multi Asset Allocation Fund or UTI Multi Asset Allocation Fund?

Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 29-10-2026 grew to ₹8,34,399 in SBI Multi Asset Allocation Fund (XIRR 12.3% a year) and ₹8,15,974 in UTI Multi Asset Allocation Fund (XIRR 11.4% a year). Both received 61 instalments. Past returns do not promise future returns.

Can I invest in both SBI Multi Asset Allocation Fund and UTI Multi Asset Allocation Fund?

Yes. 13.6% 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 UTI Multi Asset Allocation Fund?

SBI Multi Asset Allocation Fund: Mansi Sajeja, Dinesh Balachandran, Vandna Soni. UTI Multi Asset Allocation Fund: Sharwan Kumar Goyal FM 1, Lokesh Kulthia - FM 2, Jaydeep Bhowal -FM 3.

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.