Tata Retirement Savings Fund Progressive vs TRUSTMF Multi Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Tata Retirement Savings Fund Progressive is a Solution fund and TRUSTMF Multi Cap Fund is a Multi Cap fund. In the year to 30-10-2026, Tata Retirement Savings Fund Progressive (Direct) returned −1.9% and TRUSTMF Multi Cap Fund (Direct) returned 9.5%. Tata Retirement Savings Fund Progressive charges 0.83% a year and TRUSTMF Multi Cap Fund 1.77% (Direct plans). Their portfolios overlap 29.2%: they hold 18 of the same securities.
Tata Retirement Savings Fund Progressive
Solution
- 1 year return
- −1.9%
- Expense ratio
- 0.83%
- NAV
- ₹78.90
TRUSTMF Multi Cap Fund
Multi Cap
- 1 year return
- 9.5%
- Expense ratio
- 1.77%
- NAV
- ₹11.51
Which is better, Tata Retirement Savings Fund Progressive or TRUSTMF Multi Cap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- TRUSTMF Multi Cap returned more over 1 year: 9.5% against −1.9%.
- Tata Retirement Savings Fund Progressive costs less: 0.83% a year against 1.77% (Direct plans).
- TRUSTMF Multi Cap fell less in its worst fall since 25-07-2025: −12.7% against −14.1%.
- Tata Retirement Savings Fund Progressive holds more in large companies: 50.7% of the fund in large caps against 30.3%.
- Tata Retirement Savings Fund Progressive is the larger fund: ₹2,104 Cr against ₹914 Cr.
- Their portfolios overlap 29.2%: 18 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 Retirement Savings Fund Progressive | TRUSTMF Multi Cap Fund |
|---|---|---|
| Fund house | Tata Mutual Fund | Trust Mutual Fund |
| Category | Solution | Multi Cap |
| AUM | ₹2,104 Cr (30-09-2026) | ₹914 Cr (30-09-2026) |
| NAV | ₹78.90 (Direct) | ₹11.51 (Direct) |
| Expense ratio (Direct) | 0.83% | 1.77% |
| Expense ratio (Regular) | 2.20% | 3.41% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | NIFTY 500 Multicap 50:25:25 Total Return Index |
| Launch date | 01-11-2011 | 21-07-2025 |
| Minimum investment | ₹5,000 | ₹1,000 |
| Lock in | 5 years, or until retirement if earlier | None |
| Fund managers | Murthy Nagarajan, Sonam Udasi | Mihir Vora, Aakash Manghani |
| Exit load | A) If redeemed / switched-out on or after attainment of retirement age i.e. 60 years of age - Nil. B) In case of Auto switch-out of units on occurrence of “Auto-switch trigger event” - Nil. C) 1% -If redeemed before 61 months from the date of allotment. | 1% - If redeemed/switched out within 180 days from the date of allotment. Nil - if redeemed/switched out after 180 days from the date of allotment. |
Tata Retirement Savings Fund Progressive vs TRUSTMF Multi Cap: 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 Retirement Savings Fund Progressive (Direct) | −2.60% | −6.88% | −1.00% | −1.95% | +11.53% | +9.32% | +13.02% |
| TRUSTMF Multi Cap Fund (Direct) | −1.96% | −0.60% | +8.28% | +9.51% | -- | -- | -- |
| Multi Cap average | −2.65% | −3.95% | +1.99% | −1.14% | -- | -- | -- |
Category average: the average of the 33 Multi Cap funds, same plan type.
Tata Retirement Savings Fund Progressive vs TRUSTMF Multi Cap: Year-wise Returns
| Year | Tata Retirement Savings Fund ProgressiveTata Retirement Savings Fund Progressive | TRUSTMF Multi CapTRUSTMF Multi Cap |
|---|---|---|
| 2026to date | −1.40% | +9.10% |
| 2025 | +0.24% | -- |
| 2024 | +23.49% | -- |
| 2023 | +30.88% | -- |
| 2022 | −2.43% | -- |
| 2021 | +25.20% | -- |
Tata Retirement Savings Fund Progressive vs TRUSTMF Multi Cap: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of Tata Retirement Savings Fund Progressive
Rolling returns
Every 1-year holding period, 65 of them, one for each trading day from 27-07-2026 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 Retirement Savings Fund Progressive (Direct)
TRUSTMF Multi Cap Fund (Direct)
Nifty 500 TRI
to
Aug 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tata Retirement Savings Fund Progressive | 10.8 | 27.7 | 44.6 | 16.9 | 0.0 | 0.0 | 0.0 | 6.1% | 7.3% | −4.6% | 12.3% | 100% |
| TRUSTMF Multi Cap | 0.0 | 0.0 | 9.2 | 18.5 | 38.5 | 33.8 | 0.0 | 17.2% | 17.8% | 6.5% | 24.4% | 100% |
| Nifty 500 TRI | 47.7 | 36.9 | 15.4 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0% | 1.0% | −9.0% | 6.8% | -- |
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 25-07-2025. Past returns do not promise future returns.
Tata Retirement Savings Fund Progressive vs TRUSTMF Multi Cap: 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 30-10-2026: 16 instalments, ₹1,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Tata Retirement Savings Fund ProgressiveTata Retirement Savings Fund Progressive (Direct) | ₹1,60,000 | ₹1,58,486 | −₹1,514 | −1.3% |
| TRUSTMF Multi CapTRUSTMF Multi Cap Fund (Direct) | ₹1,60,000 | ₹1,73,229 | ₹13,229 | 11.9% |
Tata Retirement Savings Fund ProgressiveTata Retirement Savings Fund Progressive (Direct)
TRUSTMF Multi CapTRUSTMF Multi Cap 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 Retirement Savings Fund Progressive vs TRUSTMF Multi Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Tata Retirement Savings Fund Progressive (Direct) | TRUSTMF Multi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −1.95% | +9.51% |
| Standard deviation | 14.59% | 15.55% |
| Sharpe ratio | -0.49 | 0.27 |
| Sortino ratio | -0.66 | 0.37 |
| Maximum drawdown | −14.1% (31-03-2026) | −12.7% (23-03-2026) |
| Beta | 0.96 | 0.97 |
| Alpha | +4.89% | +15.19% |
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 Retirement Savings Fund Progressive (Direct) | TRUSTMF Multi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +14.40% | +11.58% |
| Standard deviation | 15.13% | 14.37% |
| Sharpe ratio | 0.55 | 0.44 |
| Sortino ratio | 0.75 | 0.59 |
| Maximum drawdown | −34.2% (23-03-2020) | −12.7% (23-03-2026) |
| Beta | 0.92 | 0.95 |
| Alpha | +2.18% | +13.60% |
From daily NAVs, 04-01-2013 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 Retirement Savings Fund Progressive (Direct)
TRUSTMF Multi Cap 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 Retirement Savings Fund Progressive (Direct) | −14.1% | 20-11-2025 | 31-03-2026 | 07-05-2026 | 37 days | −9.2% |
| TRUSTMF Multi Cap Fund (Direct) | −12.7% | 17-11-2025 | 23-03-2026 | 06-05-2026 | 44 days | −6.7% |
| Nifty 500 TRI | −14.7% | 02-01-2026 | 30-03-2026 | Not yet | -- | −8.4% |
From daily values since 25-07-2025, 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.
Tata Retirement Savings Fund Progressive (Direct)
TRUSTMF Multi Cap Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Tata Retirement Savings Fund Progressive (Direct) | 112% | 93% | 5.67% |
| TRUSTMF Multi Cap Fund (Direct) | 158% | 78% | 6.32% |
From month-end values since 25-07-2025. 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.
Tata Retirement Savings Fund Progressive vs TRUSTMF Multi Cap: Portfolio Overlap
From each fund's latest monthly portfolio: Tata Retirement Savings Fund Progressive, September 2026; TRUSTMF Multi Cap Fund, September 2026
Holdings in common
- Overlap
- 29.2%
- Held by both
- 18
- Only in Tata Retirement Savings Fund Progressive
- 34
- Only in TRUSTMF Multi Cap
- 54
| Security | % of Tata Retirement Savings Fund Progressive | % of TRUSTMF Multi Cap |
|---|---|---|
| ICICI BANK LTD | 4.97% | 4.02% |
| MULTI COMMODITY EXCHANGE OF IND LTD | 3.81% | 2.67% |
| ETERNAL LTD | 4.11% | 2.63% |
| DIXON TECHNOLOGIES (INDIA) LTD | 2.02% | 2.21% |
| KOTAK MAHINDRA BANK LTD | 2.28% | 1.96% |
| TITAN COMPANY LTD | 1.96% | 2.00% |
| RADICO KHAITAN LTD | 3.17% | 1.61% |
| COAL INDIA LTD | 2.05% | 1.33% |
| BILLIONBRAINS GARAGE VENTURES LTD (GROWW) | 1.82% | 1.33% |
| APOLLO HOSPITALS ENTERPRISE LTD | 1.40% | 1.31% |
| NIPPON LIFE INDIA ASSET MANAGEMENT LTD | 1.88% | 1.26% |
| KARUR VYSYA BANK LTD | 2.14% | 1.19% |
| ATHER ENERGY LTD | 1.51% | 1.19% |
| RBL BANK LTD | 1.15% | 1.01% |
| SHRIRAM FINANCE LTD | 1.01% | 1.27% |
| ONE 97 COMMUNICATIONS LTD | 2.01% | 0.91% |
| MUTHOOT FINANCE LTD | 1.38% | 0.90% |
| DIAMOND POWER INFRASTRUCTURE LTD | 0.90% | 1.41% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 29.2% means 29.2% 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 Retirement Savings Fund Progressive
| Security | % of fund |
|---|---|
| SOLAR INDUSTRIES INDIA LTD | 5.39% |
| RELIANCE INDUSTRIES LTD | 3.66% |
| ADANI PORTS AND SPECIAL ECONOMIC ZONE LTD | 2.46% |
| 360 ONE WAM LTD | 2.25% |
| RAINBOW CHILDRENS MEDICARE LTD | 2.14% |
Largest holdings only in TRUSTMF Multi Cap Fund
| Security | % of fund |
|---|---|
| Lenskart Solutions Limited | 2.55% |
| Aurobindo Pharma Limited | 2.05% |
| Laurus Labs Limited | 1.96% |
| Samvardhana Motherson International Limited | 1.73% |
| Welspun Corp Limited | 1.65% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Tata Retirement Savings Fund Progressive | TRUSTMF Multi Cap |
|---|---|---|
| Equity | 93.5% | 92.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 6.5% | 8.0% |
Market cap of stocks
| Market cap | Tata Retirement Savings Fund Progressive | TRUSTMF Multi Cap |
|---|---|---|
| Large Cap | 50.7% | 30.3% |
| Mid Cap | 21.2% | 26.5% |
| Small Cap | 19.9% | 30.6% |
| Not on AMFI's list | 1.8% | 4.7% |
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 Retirement Savings Fund Progressive | TRUSTMF Multi Cap |
|---|---|---|
| Banks | 10.5% | 12.5% |
| Capital Markets | 11.6% | 5.8% |
| Pharmaceuticals & Biotechnology | 3.6% | 9.7% |
| Retailing | 4.1% | 8.0% |
| Consumer Durables | 4.0% | 6.5% |
| Electrical Equipment | 2.8% | 6.1% |
| Auto Components | 2.1% | 6.1% |
| Chemicals & Petrochemicals | 5.4% | 1.2% |
| Industrial Products | 4.9% | 4.2% |
| Beverages | 4.2% | 1.6% |
The six largest sectors of each fund's stocks, % of the fund.
Tata Retirement Savings Fund Progressive vs TRUSTMF Multi Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Tata Retirement Savings Fund Progressive | TRUSTMF Multi Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.83% | 1.77% |
| Base expense ratio (Direct) | 0.57% | 0.51% |
| Total expense ratio (Regular) | 2.20% | 3.41% |
| Base expense ratio (Regular) | 1.75% | 1.95% |
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
Tata Retirement Savings Fund Progressive vs TRUSTMF Multi Cap Fund: Frequently Asked Questions
What is the difference between Tata Retirement Savings Fund Progressive and TRUSTMF Multi Cap Fund?
Tata Retirement Savings Fund Progressive is a Solution fund, TRUSTMF Multi Cap Fund is a Multi Cap fund, run by Tata Mutual Fund and Trust Mutual Fund. Their portfolios overlap 29.2%. Tata Retirement Savings Fund Progressive charges 0.83% a year and TRUSTMF Multi Cap Fund 1.77%.
Which has given higher returns, Tata Retirement Savings Fund Progressive or TRUSTMF Multi Cap Fund?
Over 1 year: Tata Retirement Savings Fund Progressive −1.95%, TRUSTMF Multi Cap Fund +9.51%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Tata Retirement Savings Fund Progressive or TRUSTMF Multi Cap Fund?
Tata Retirement Savings Fund Progressive charges less: 0.83% a year against 1.77%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Tata Retirement Savings Fund Progressive and TRUSTMF Multi Cap Fund overlap?
29.2%. They hold 18 of the same securities, the largest shared ones being ICICIBANK, MCX, ETERNAL. From each fund's latest monthly portfolio.
Which is riskier, Tata Retirement Savings Fund Progressive or TRUSTMF Multi Cap Fund?
On SEBI's riskometer, Tata Retirement Savings Fund Progressive is rated Very High and TRUSTMF Multi Cap Fund Very High. Over 1 years, the standard deviation of daily returns was 14.59% and 15.55% a year.
Can I invest in both Tata Retirement Savings Fund Progressive and TRUSTMF Multi Cap Fund?
Yes. 29.2% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Tata Retirement Savings Fund Progressive and TRUSTMF Multi Cap Fund?
Tata Retirement Savings Fund Progressive: Murthy Nagarajan, Sonam Udasi. TRUSTMF Multi Cap Fund: Mihir Vora, Aakash Manghani.
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.