SBI MultiCap Fund vs SBI Retirement Benefit Fund - Aggressive Hybrid Plan
Direct Plan, Growth option · Data as on 30-10-2026
SBI MultiCap Fund is a Multi Cap fund and SBI Retirement Benefit Fund - Aggressive Hybrid Plan is a Solution fund. In the 3 years to 30-10-2026, SBI MultiCap Fund (Direct) returned 11.7% a year and SBI Retirement Benefit Fund - Aggressive Hybrid Plan (Direct) returned 8.9% a year. SBI MultiCap Fund charges 1.06% a year and SBI Retirement Benefit Fund - Aggressive Hybrid Plan 1.17% (Direct plans). Their portfolios overlap 29.7%: they hold 23 of the same securities.
SBI Retirement Benefit Fund - Aggressive Hybrid Plan
Solution
- 3 year return
- 8.9%
- Expense ratio
- 1.17%
- NAV
- ₹19.94
Which is better, SBI MultiCap or SBI Retirement Benefit Fund - Aggressive Hybrid Plan? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- SBI MultiCap returned more over 3 years: 11.7% a year against 8.9%.
- SBI Retirement Benefit Fund - Aggressive Hybrid Plan returned more over 1 year: −2.7% against −6.8%.
- SBI MultiCap costs less: 1.06% a year against 1.17% (Direct plans).
- SBI Retirement Benefit Fund - Aggressive Hybrid Plan swung less over 3 years: a standard deviation of 10.9% a year against 13.1%.
- SBI Retirement Benefit Fund - Aggressive Hybrid Plan fell less in its worst fall since 15-03-2022: −14.5% against −15.1%.
- SBI MultiCap is the larger fund: ₹23,456 Cr against ₹1,587 Cr.
- Their portfolios overlap 29.7%: 23 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 MultiCap Fund | SBI Retirement Benefit Fund - Aggressive Hybrid Plan |
|---|---|---|
| Fund house | SBI Mutual Fund | SBI Mutual Fund |
| Category | Multi Cap | Solution |
| AUM | ₹23,456 Cr (30-09-2026) | ₹1,587 Cr (30-09-2026) |
| NAV | ₹16.86 (Direct) | ₹19.94 (Direct) |
| Expense ratio (Direct) | 1.06% | 1.17% |
| Expense ratio (Regular) | 1.84% | 2.14% |
| Riskometer | Very High | Very High |
| Benchmark | NIFTY 500 Multicap 50:25:25 Total Return Index | CRISIL Hybrid 35+65 - Aggressive Index |
| Launch date | 08-03-2022 | 10-02-2021 |
| Minimum investment | ₹5,000 | ₹5,000 |
| Lock in | None | 5 years, or until retirement if earlier |
| Fund managers | R Srinivasan, Saurabh Pant | Ardhendu Bhattacharya, Rohit Shimpi |
| Exit load | Exit load of 0.25% if redeemed within 30 days and 0.10% if redeemed after 30 days but on or before 90 days. | Nil |
SBI MultiCap vs SBI Retirement Benefit Fund - Aggressive Hybrid Plan: 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 MultiCap Fund (Direct) | −3.15% | −5.73% | −1.62% | −6.77% | +11.73% | -- | -- |
| SBI Retirement Benefit Fund - Aggressive Hybrid Plan (Direct) | −1.75% | −3.42% | +0.34% | −2.71% | +8.90% | +9.64% | -- |
| Multi Cap average | −2.65% | −3.95% | +1.99% | −1.14% | +13.54% | -- | -- |
Category average: the average of the 33 Multi Cap funds, same plan type.
SBI MultiCap vs SBI Retirement Benefit Fund - Aggressive Hybrid Plan: Year-wise Returns
| Year | MultiCapSBI MultiCap | Retirement Benefit Fund - Aggressive Hybrid PlanSBI Retirement Benefit Fund - Aggressive Hybrid Plan |
|---|---|---|
| 2026to date | −4.05% | −2.95% |
| 2025 | +3.83% | +8.06% |
| 2024 | +27.02% | +11.61% |
| 2023 | +23.63% | +24.40% |
| 2022 | -- | +7.80% |
SBI MultiCap vs SBI Retirement Benefit Fund - Aggressive Hybrid Plan: Rolling Returns
Every holding period of both funds, against Nifty500 Multicap 50:25:25 TRI, the benchmark of SBI MultiCap Fund
Rolling returns
Every 3-year holding period, 406 of them, one for each trading day from 17-03-2025 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.
SBI MultiCap Fund (Direct)
SBI Retirement Benefit Fund - Aggressive Hybrid Plan (Direct)
Nifty500 Multicap 50:25:25 TRI
to
May 2025Aug 2022
to
Aug 2025Nov 2022
to
Nov 2025Mar 2023
to
Mar 2026Jun 2023
to
Jun 2026Sept 2023
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 | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SBI MultiCap | 0.0 | 0.0 | 0.0 | 18.0 | 70.0 | 12.1 | 0.0 | 17.1% | 17.2% | 10.1% | 23.7% | 26% |
| SBI Retirement Benefit Fund - Aggressive Hybrid Plan | 0.0 | 0.0 | 8.6 | 74.9 | 16.5 | 0.0 | 0.0 | 13.2% | 13.6% | 7.8% | 19.1% | 0% |
| Nifty500 Multicap 50:25:25 TRI | 0.0 | 0.0 | 0.0 | 20.0 | 63.8 | 15.0 | 1.2 | 17.6% | 17.9% | 10.1% | 25.5% | -- |
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 Nifty500 Multicap 50:25:25 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 15-03-2022. Past returns do not promise future returns.
SBI MultiCap vs SBI Retirement Benefit Fund - Aggressive Hybrid Plan: 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 15-03-2022 to 30-10-2026: 56 instalments, ₹5,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| SBI MultiCapSBI MultiCap Fund (Direct) | ₹5,60,000 | ₹6,89,053 | ₹1,29,053 | 8.9% |
| SBI Retirement Benefit Fund - Aggressive Hybrid PlanSBI Retirement Benefit Fund - Aggressive Hybrid Plan (Direct) | ₹5,60,000 | ₹6,68,706 | ₹1,08,706 | 7.6% |
SBI MultiCapSBI MultiCap Fund (Direct)
SBI Retirement Benefit Fund - Aggressive Hybrid PlanSBI Retirement Benefit Fund - Aggressive Hybrid Plan (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 MultiCap vs SBI Retirement Benefit Fund - Aggressive Hybrid Plan: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | SBI MultiCap Fund (Direct) | SBI Retirement Benefit Fund - Aggressive Hybrid Plan (Direct) |
|---|---|---|
| Return (CAGR) | −6.77% | −2.71% |
| Standard deviation | 14.08% | 12.43% |
| Sharpe ratio | -0.85 | -0.64 |
| Sortino ratio | -1.13 | -0.87 |
| Maximum drawdown | −14.6% (31-03-2026) | −12.1% (23-03-2026) |
| Beta | 0.90 | -- |
| Alpha | −1.84% | -- |
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 MultiCap Fund (Direct) | SBI Retirement Benefit Fund - Aggressive Hybrid Plan (Direct) |
|---|---|---|
| Return (CAGR) | +11.73% | +8.90% |
| Standard deviation | 13.09% | 10.90% |
| Sharpe ratio | 0.44 | 0.26 |
| Sortino ratio | 0.59 | 0.36 |
| Maximum drawdown | −15.1% (31-03-2026) | −14.5% (28-02-2025) |
| Beta | 0.81 | -- |
| Alpha | +1.43% | -- |
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 MultiCap Fund (Direct) | SBI Retirement Benefit Fund - Aggressive Hybrid Plan (Direct) |
|---|---|---|
| Return (CAGR) | +11.52% | +12.64% |
| Standard deviation | 12.18% | 10.67% |
| Sharpe ratio | 0.45 | 0.67 |
| Sortino ratio | 0.61 | 0.92 |
| Maximum drawdown | −15.1% (31-03-2026) | −14.5% (28-02-2025) |
| Beta | 0.79 | -- |
| Alpha | +0.26% | -- |
From daily NAVs, 15-03-2022 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 MultiCap Fund (Direct)
SBI Retirement Benefit Fund - Aggressive Hybrid Plan (Direct)
Nifty500 Multicap 50:25:25 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| SBI MultiCap Fund (Direct) | −15.1% | 23-07-2025 | 31-03-2026 | 20-08-2026 | 5 months | −8.0% |
| SBI Retirement Benefit Fund - Aggressive Hybrid Plan (Direct) | −14.5% | 26-09-2024 | 28-02-2025 | 29-10-2025 | 8 months | −6.7% |
| Nifty500 Multicap 50:25:25 TRI | −19.8% | 26-09-2024 | 03-03-2025 | 03-08-2026 | 17 months | −8.0% |
From daily values since 15-03-2022, 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 MultiCap Fund (Direct)
SBI Retirement Benefit Fund - Aggressive Hybrid Plan (Direct)
Nifty500 Multicap 50:25:25 TRI
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 MultiCap Fund (Direct)
SBI Retirement Benefit Fund - Aggressive Hybrid Plan (Direct)
Nifty500 Multicap 50:25:25 TRI
Against Nifty500 Multicap 50:25:25 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| SBI MultiCap Fund (Direct) | 85% | 77% | 4.93% |
| SBI Retirement Benefit Fund - Aggressive Hybrid Plan (Direct) | 73% | 65% | 6.22% |
From month-end values since 15-03-2022. 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 MultiCap vs SBI Retirement Benefit Fund - Aggressive Hybrid Plan: Portfolio Overlap
From each fund's latest monthly portfolio: SBI MultiCap Fund, September 2026; SBI Retirement Benefit Fund - Aggressive Hybrid Plan, September 2026
Holdings in common
- Overlap
- 29.7%
- Held by both
- 23
- Only in SBI MultiCap
- 48
- Only in SBI Retirement Benefit Fund - Aggressive Hybrid Plan
- 37
| Security | % of SBI MultiCap | % of SBI Retirement Benefit Fund - Aggressive Hybrid Plan |
|---|---|---|
| ICICI Bank Ltd. | 3.94% | 4.62% |
| HDFC Bank Ltd. | 3.02% | 5.00% |
| Kotak Mahindra Bank Ltd. | 2.67% | 2.19% |
| Lenskart Solutions Ltd. | 2.19% | 1.82% |
| Divi's Laboratories Ltd. | 3.37% | 1.69% |
| Sona Blw Precision Forgings Ltd. | 1.77% | 1.57% |
| Maruti Suzuki India Ltd. | 1.33% | 2.46% |
| Asian Paints Ltd. | 2.05% | 1.26% |
| Jubilant Foodworks Ltd. | 1.97% | 1.19% |
| FSN E-Commerce Ventures Ltd. | 1.09% | 1.29% |
| Hyundai Motor India Ltd. | 1.08% | 1.54% |
| Coforge Ltd. | 1.58% | 1.07% |
| Navin Fluorine International Ltd. | 1.05% | 1.66% |
| TVS Motor Company Ltd. | 1.05% | 1.81% |
| JSW Cement Ltd. | 0.97% | 1.44% |
| Carborundum Universal Ltd. | 1.87% | 0.87% |
| Berger Paints India Ltd. | 2.14% | 0.86% |
| Torrent Power Ltd. | 2.12% | 0.86% |
| Biocon Ltd. | 1.74% | 0.80% |
| Page Industries Ltd. | 1.19% | 0.78% |
| Godrej Properties Ltd. | 0.69% | 0.72% |
| Elevate Campuses Ltd. | 0.41% | 1.43% |
| Brigade Hotel Ventures Ltd. | 0.14% | 0.56% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 29.7% means 29.7% 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 MultiCap Fund
| Security | % of fund |
|---|---|
| Adani Power Ltd. | 3.48% |
| Adani Enterprises Ltd. | 3.47% |
| K.P.R. Mill Ltd. | 3.06% |
| Aether Industries Ltd. | 2.61% |
| Paradeep Phosphates Ltd. | 2.30% |
Largest holdings only in SBI Retirement Benefit Fund - Aggressive Hybrid Plan
| Security | % of fund |
|---|---|
| SBI Gold ETF | 9.26% |
| Larsen & Toubro Ltd. | 3.21% |
| State Bank of India | 2.89% |
| National Highways Infra Trust | 2.79% |
| Altius Telecom Infrastructure Trust | 2.73% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | SBI MultiCap | SBI Retirement Benefit Fund - Aggressive Hybrid Plan |
|---|---|---|
| Equity | 99.1% | 77.5% |
| Debt | 0.1% | 0.6% |
| Cash and others | 0.8% | 21.9% |
Market cap of stocks
| Market cap | SBI MultiCap | SBI Retirement Benefit Fund - Aggressive Hybrid Plan |
|---|---|---|
| Large Cap | 35.1% | 37.5% |
| Mid Cap | 26.3% | 19.3% |
| Small Cap | 33.5% | 19.4% |
| Not on AMFI's list | 4.2% | 1.4% |
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 MultiCap | SBI Retirement Benefit Fund - Aggressive Hybrid Plan |
|---|---|---|
| Banks | 12.3% | 14.7% |
| Consumer Durables | 8.8% | 3.1% |
| Retailing | 8.6% | 5.1% |
| Auto Components | 7.5% | 4.3% |
| Power | 6.3% | 0.9% |
| Pharmaceuticals & Biotechnology | 6.3% | 5.8% |
| Automobiles | 3.5% | 5.8% |
| Industrial Products | 4.0% | 4.0% |
The six largest sectors of each fund's stocks, % of the fund.
SBI MultiCap vs SBI Retirement Benefit Fund - Aggressive Hybrid Plan: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | SBI MultiCap Fund | SBI Retirement Benefit Fund - Aggressive Hybrid Plan |
|---|---|---|
| Total expense ratio (Direct) | 1.06% | 1.17% |
| Base expense ratio (Direct) | 0.73% | 0.89% |
| Total expense ratio (Regular) | 1.84% | 2.14% |
| Base expense ratio (Regular) | 1.40% | 1.72% |
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
SBI MultiCap Fund vs SBI Retirement Benefit Fund - Aggressive Hybrid Plan: Frequently Asked Questions
What is the difference between SBI MultiCap Fund and SBI Retirement Benefit Fund - Aggressive Hybrid Plan?
SBI MultiCap Fund is a Multi Cap fund, SBI Retirement Benefit Fund - Aggressive Hybrid Plan is a Solution fund, run by SBI Mutual Fund. Their portfolios overlap 29.7%. SBI MultiCap Fund charges 1.06% a year and SBI Retirement Benefit Fund - Aggressive Hybrid Plan 1.17%.
Which has given higher returns, SBI MultiCap Fund or SBI Retirement Benefit Fund - Aggressive Hybrid Plan?
Over 1 year: SBI MultiCap Fund −6.77%, SBI Retirement Benefit Fund - Aggressive Hybrid Plan −2.71%. Over 3 years: SBI MultiCap Fund +11.73% a year, SBI Retirement Benefit Fund - Aggressive Hybrid Plan +8.90% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, SBI MultiCap Fund or SBI Retirement Benefit Fund - Aggressive Hybrid Plan?
SBI MultiCap Fund charges less: 1.06% a year against 1.17%. These are the Direct plans' total expense ratios reported to AMFI.
How much do SBI MultiCap Fund and SBI Retirement Benefit Fund - Aggressive Hybrid Plan overlap?
29.7%. They hold 23 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, KOTAKBANK. From each fund's latest monthly portfolio.
Which is riskier, SBI MultiCap Fund or SBI Retirement Benefit Fund - Aggressive Hybrid Plan?
On SEBI's riskometer, SBI MultiCap Fund is rated Very High and SBI Retirement Benefit Fund - Aggressive Hybrid Plan Very High. Over 3 years, the standard deviation of daily returns was 13.09% and 10.90% a year.
Which is better for SIP, SBI MultiCap Fund or SBI Retirement Benefit Fund - Aggressive Hybrid Plan?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹3,89,595 in SBI MultiCap Fund (XIRR 3.3% a year) and ₹3,89,661 in SBI Retirement Benefit Fund - Aggressive Hybrid Plan (XIRR 3.3% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both SBI MultiCap Fund and SBI Retirement Benefit Fund - Aggressive Hybrid Plan?
Yes. 29.7% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages SBI MultiCap Fund and SBI Retirement Benefit Fund - Aggressive Hybrid Plan?
SBI MultiCap Fund: R Srinivasan, Saurabh Pant. SBI Retirement Benefit Fund - Aggressive Hybrid Plan: Ardhendu Bhattacharya, Rohit Shimpi.
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.