Tata Flexi Cap Fund vs Tata Multicap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Tata Flexi Cap Fund is a Flexi Cap fund and Tata Multicap Fund is a Multi Cap fund. In the 3 years to 30-10-2026, Tata Flexi Cap Fund (Direct) returned 9.1% a year and Tata Multicap Fund (Direct) returned 9.4% a year. Tata Flexi Cap Fund charges 0.89% a year and Tata Multicap Fund 0.82% (Direct plans). Their portfolios overlap 35.5%: they hold 27 of the same securities.
Which is better, Tata Flexi Cap or Tata Multicap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Tata Multicap returned more over 3 years: 9.4% a year against 9.1%.
- Tata Multicap returned more over 1 year: −0.8% against −10.2%.
- Tata Multicap costs less: 0.82% a year against 0.89% (Direct plans).
- Tata Flexi Cap swung less over 3 years: a standard deviation of 12.7% a year against 15.2%.
- Tata Flexi Cap fell less in its worst fall since 09-02-2023: −14.6% against −22.4%.
- Tata Flexi Cap holds more in large companies: 58.8% of the fund in large caps against 39.5%.
- Tata Flexi Cap is the larger fund: ₹3,454 Cr against ₹3,409 Cr.
- Their portfolios overlap 35.5%: 27 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 | Tata Flexi Cap Fund | Tata Multicap Fund |
|---|---|---|
| Fund house | Tata Mutual Fund | Tata Mutual Fund |
| Category | Flexi Cap | Multi Cap |
| AUM | ₹3,454 Cr (30-09-2026) | ₹3,409 Cr (30-09-2026) |
| NAV | ₹25.03 (Direct) | ₹15.25 (Direct) |
| Expense ratio (Direct) | 0.89% | 0.82% |
| Expense ratio (Regular) | 2.13% | 2.18% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | NIFTY 500 Multicap 50:25:25 Total Return Index |
| Launch date | 06-09-2018 | 02-02-2023 |
| Minimum investment | ₹5,000 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Anand Sharma, Aditya Bagul | Meeta Shetty, Murthy Nagarajan, Hasmukh Vishariya |
| Exit load | Redemption/Switch-out/SWP/STP: 1. On or before 30 days from the date of allotment: 0.50%. 2. After 30 days from the date of allotment: NIL. | Exit load of 0.50%, if redeemed within 30 days. |
Tata Flexi Cap vs Tata Multicap: 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 |
|---|---|---|---|---|---|---|---|
| Tata Flexi Cap Fund (Direct) | −1.02% | −6.54% | −4.90% | −10.21% | +9.08% | +7.88% | -- |
| Tata Multicap Fund (Direct) | −1.68% | −6.58% | −0.16% | −0.78% | +9.40% | -- | -- |
| Flexi Cap average | −1.62% | −4.17% | +1.00% | −3.58% | +12.37% | +10.04% | -- |
| Multi Cap average | −2.65% | −3.95% | +1.99% | −1.14% | +13.54% | -- | -- |
Category average: the average of the 46 Flexi Cap funds and the 33 Multi Cap funds, same plan type.
Tata Flexi Cap vs Tata Multicap: Year-wise Returns
| Year | Flexi CapTata Flexi Cap | MulticapTata Multicap |
|---|---|---|
| 2026to date | −10.28% | −1.66% |
| 2025 | +12.01% | +4.65% |
| 2024 | +14.03% | +14.27% |
| 2023 | +29.48% | -- |
| 2022 | −2.15% | -- |
| 2021 | +28.33% | -- |
Tata Flexi Cap vs Tata Multicap: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of Tata Flexi Cap Fund
Rolling returns
Every 3-year holding period, 178 of them, one for each trading day from 09-02-2026 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.
Tata Flexi Cap Fund (Direct)
Tata Multicap Fund (Direct)
Nifty 500 TRI
to
Mar 2026Apr 2023
to
Apr 2026May 2023
to
May 2026Jul 2023
to
Jul 2026Aug 2023
to
Aug 2026Oct 2023
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tata Flexi Cap | 0.0 | 0.0 | 17.4 | 44.4 | 38.2 | 0.0 | 0.0 | 13.6% | 13.3% | 7.9% | 19.4% | 52% |
| Tata Multicap | 0.0 | 0.0 | 14.0 | 71.9 | 14.0 | 0.0 | 0.0 | 12.9% | 13.2% | 8.4% | 16.0% | 28% |
| Nifty 500 TRI | 0.0 | 0.0 | 10.7 | 61.2 | 28.1 | 0.0 | 0.0 | 13.5% | 13.4% | 8.8% | 18.1% | -- |
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 Nifty 500 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 09-02-2023. Past returns do not promise future returns.
Tata Flexi Cap vs Tata Multicap: 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 01-02-2023 to 30-10-2026: 45 instalments, ₹4,50,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Tata Flexi CapTata Flexi Cap Fund (Direct) | ₹4,50,000 | ₹4,88,246 | ₹38,246 | 4.3% |
| Tata MulticapTata Multicap Fund (Direct) | ₹4,50,000 | ₹5,07,883 | ₹57,883 | 6.4% |
Tata Flexi CapTata Flexi Cap Fund (Direct)
Tata MulticapTata Multicap 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.
Tata Flexi Cap vs Tata Multicap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Tata Flexi Cap Fund (Direct) | Tata Multicap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −10.21% | −0.78% |
| Standard deviation | 13.19% | 14.71% |
| Sharpe ratio | -1.17 | -0.41 |
| Sortino ratio | -1.54 | -0.56 |
| Maximum drawdown | −14.1% (31-03-2026) | −13.1% (31-03-2026) |
| Beta | 0.90 | 0.96 |
| Alpha | −4.10% | +4.84% |
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 | Tata Flexi Cap Fund (Direct) | Tata Multicap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.08% | +9.40% |
| Standard deviation | 12.68% | 15.18% |
| Sharpe ratio | 0.24 | 0.22 |
| Sortino ratio | 0.33 | 0.30 |
| Maximum drawdown | −14.6% (03-03-2025) | −22.4% (28-02-2025) |
| Beta | 0.86 | 0.98 |
| Alpha | −0.56% | −1.78% |
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 | Tata Flexi Cap Fund (Direct) | Tata Multicap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.95% | +11.46% |
| Standard deviation | 15.24% | 14.14% |
| Sharpe ratio | 0.44 | 0.37 |
| Sortino ratio | 0.59 | 0.50 |
| Maximum drawdown | −33.5% (23-03-2020) | −22.4% (28-02-2025) |
| Beta | 0.87 | 0.97 |
| Alpha | +1.17% | −2.32% |
From daily NAVs, 10-09-2018 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.
Tata Flexi Cap Fund (Direct)
Tata Multicap Fund (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Tata Flexi Cap Fund (Direct) | −14.6% | 26-09-2024 | 03-03-2025 | 09-06-2025 | 3 months | −11.0% |
| Tata Multicap Fund (Direct) | −22.4% | 27-09-2024 | 28-02-2025 | 17-06-2026 | 16 months | −8.3% |
| Nifty 500 TRI | −18.6% | 26-09-2024 | 28-02-2025 | Not yet | -- | −8.8% |
From daily values since 09-02-2023, 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.
Tata Flexi Cap Fund (Direct)
Tata Multicap Fund (Direct)
Nifty 500 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.
Tata Flexi Cap Fund (Direct)
Tata Multicap Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Tata Flexi Cap Fund (Direct) | 87% | 78% | 4.00% |
| Tata Multicap Fund (Direct) | 93% | 89% | 4.45% |
From month-end values since 09-02-2023. 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.
Tata Flexi Cap vs Tata Multicap: Portfolio Overlap
From each fund's latest monthly portfolio: Tata Flexi Cap Fund, September 2026; Tata Multicap Fund, September 2026
Holdings in common
- Overlap
- 35.5%
- Held by both
- 27
- Only in Tata Flexi Cap
- 42
- Only in Tata Multicap
- 51
| Security | % of Tata Flexi Cap | % of Tata Multicap |
|---|---|---|
| HDFC BANK LTD | 6.28% | 7.22% |
| RELIANCE INDUSTRIES LTD | 4.23% | 2.44% |
| NTPC LTD | 2.46% | 2.20% |
| AXIS BANK LTD | 3.87% | 2.16% |
| ICICI BANK LTD | 6.13% | 2.00% |
| KOTAK MAHINDRA BANK LTD | 1.83% | 1.83% |
| BHARTI AIRTEL LTD | 3.79% | 1.80% |
| MARUTI SUZUKI INDIA LTD | 2.28% | 1.76% |
| INDUS TOWERS LTD | 1.41% | 1.37% |
| INFOSYS LTD | 1.38% | 1.18% |
| INDIAN HOTELS CO. LTD | 1.16% | 1.51% |
| STATE BANK OF INDIA | 1.53% | 0.96% |
| ADANI PORTS AND SPECIAL ECONOMIC ZONE LTD | 0.94% | 3.69% |
| HEALTHCARE GLOBAL ENTERPRISES LTD | 0.92% | 1.33% |
| PNB HOUSING FINANCE LTD | 1.30% | 0.91% |
| PI INDUSTRIES LTD | 1.05% | 0.88% |
| ADANI ENTERPRISES LTD | 0.84% | 0.89% |
| ABBOTT INDIA LTD | 1.63% | 0.83% |
| SBI CARDS AND PAYMENT SERVICES LTD | 0.75% | 1.09% |
| SWIGGY LTD | 0.78% | 0.73% |
| NMDC LTD | 1.05% | 0.68% |
| MPHASIS LTD | 1.28% | 0.63% |
| ORIENT ELECTRIC LTD | 1.50% | 0.53% |
| CUMMINS INDIA LTD | 0.48% | 0.91% |
| ITC LTD | 1.67% | 0.46% |
| PIRAMAL FINANCE LTD | 0.92% | 0.40% |
| SPR AUTO TECHNOLOGIES LTD | 0.39% | 1.67% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 35.5% means 35.5% 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 Tata Flexi Cap Fund
| Security | % of fund |
|---|---|
| LARSEN & TOUBRO LTD | 2.62% |
| SBI LIFE INSURANCE COMPANY LTD | 2.04% |
| PIDILITE INDUSTRIES LTD | 1.66% |
| INDUSIND BANK LTD | 1.66% |
| HDFC LIFE INSURANCE CO. LTD | 1.62% |
Largest holdings only in Tata Multicap Fund
| Security | % of fund |
|---|---|
| PEARL GLOBAL INDUSTRIES LTD | 2.18% |
| DR. LAL PATH LABS LTD | 1.98% |
| DIXON TECHNOLOGIES (INDIA) LTD | 1.76% |
| VISHAL MEGA MART LTD | 1.75% |
| METROPOLIS HEALTHCARE LTD | 1.74% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Tata Flexi Cap | Tata Multicap |
|---|---|---|
| Equity | 94.8% | 94.1% |
| Debt | 0.0% | 0.0% |
| Cash and others | 5.2% | 5.9% |
Market cap of stocks
| Market cap | Tata Flexi Cap | Tata Multicap |
|---|---|---|
| Large Cap | 58.8% | 39.5% |
| Mid Cap | 15.5% | 26.6% |
| Small Cap | 18.2% | 27.1% |
| Not on AMFI's list | 2.3% | 0.8% |
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 | Tata Flexi Cap | Tata Multicap |
|---|---|---|
| Banks | 21.3% | 19.6% |
| Healthcare Services | 2.7% | 8.6% |
| Auto Components | 2.5% | 6.6% |
| Insurance | 6.0% | 1.1% |
| Consumer Durables | 5.2% | 4.2% |
| Petroleum Products | 5.2% | 2.4% |
| Telecom - Services | 5.2% | 3.2% |
| Industrial Products | 2.0% | 5.1% |
| Finance | 3.7% | 5.0% |
| Automobiles | 3.0% | 4.4% |
| Pharmaceuticals & Biotechnology | 4.2% | 2.3% |
The six largest sectors of each fund's stocks, % of the fund.
Tata Flexi Cap vs Tata Multicap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Tata Flexi Cap Fund | Tata Multicap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.89% | 0.82% |
| Base expense ratio (Direct) | 0.59% | 0.48% |
| Total expense ratio (Regular) | 2.13% | 2.18% |
| Base expense ratio (Regular) | 1.65% | 1.65% |
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 Tata Flexi Cap with
Tata Flexi Cap Fund vs Tata Multicap Fund: Frequently Asked Questions
What is the difference between Tata Flexi Cap Fund and Tata Multicap Fund?
Tata Flexi Cap Fund is a Flexi Cap fund, Tata Multicap Fund is a Multi Cap fund, run by Tata Mutual Fund. Their portfolios overlap 35.5%. Tata Flexi Cap Fund charges 0.89% a year and Tata Multicap Fund 0.82%.
Which has given higher returns, Tata Flexi Cap Fund or Tata Multicap Fund?
Over 1 year: Tata Flexi Cap Fund −10.21%, Tata Multicap Fund −0.78%. Over 3 years: Tata Flexi Cap Fund +9.08% a year, Tata Multicap Fund +9.40% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Tata Flexi Cap Fund or Tata Multicap Fund?
Tata Multicap Fund charges less: 0.82% a year against 0.89%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Tata Flexi Cap Fund and Tata Multicap Fund overlap?
35.5%. They hold 27 of the same securities, the largest shared ones being HDFCBANK, RELIANCE, NTPC. From each fund's latest monthly portfolio.
Which is riskier, Tata Flexi Cap Fund or Tata Multicap Fund?
On SEBI's riskometer, Tata Flexi Cap Fund is rated Very High and Tata Multicap Fund Very High. Over 3 years, the standard deviation of daily returns was 12.68% and 15.18% a year.
Which is better for SIP, Tata Flexi Cap Fund or Tata Multicap Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹3,73,170 in Tata Flexi Cap Fund (XIRR 0.5% a year) and ₹3,92,964 in Tata Multicap Fund (XIRR 3.9% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both Tata Flexi Cap Fund and Tata Multicap Fund?
Yes. 35.5% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Tata Flexi Cap Fund and Tata Multicap Fund?
Tata Flexi Cap Fund: Anand Sharma, Aditya Bagul. Tata Multicap Fund: Meeta Shetty, Murthy Nagarajan, Hasmukh Vishariya.
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.