Union Balanced Advantage Fund vs Union Multi Asset Allocation Fund
Direct Plan, Growth option · Data as on 30-10-2026
Union Balanced Advantage Fund is a Balanced Advantage fund and Union Multi Asset Allocation Fund is a Multi Asset fund. In the year to 30-10-2026, Union Balanced Advantage Fund (Direct) returned −3.4% and Union Multi Asset Allocation Fund (Direct) returned 2.5%. Union Balanced Advantage Fund charges 1.47% a year and Union Multi Asset Allocation Fund 1.31% (Direct plans). Their portfolios overlap 57.7%: they hold 71 of the same securities.
Union Balanced Advantage Fund
Balanced Advantage
- 1 year return
- −3.4%
- Expense ratio
- 1.47%
- NAV
- ₹21.67
Union Multi Asset Allocation Fund
Multi Asset
- 1 year return
- 2.5%
- Expense ratio
- 1.31%
- NAV
- ₹11.91
Which is better, Union Balanced Advantage or Union 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.
- Union Multi Asset Allocation returned more over 1 year: 2.5% against −3.4%.
- Union Multi Asset Allocation costs less: 1.31% a year against 1.47% (Direct plans).
- Union Balanced Advantage fell less in its worst fall since 13-09-2024: −8.9% against −12.4%.
- Union Balanced Advantage is the larger fund: ₹1,158 Cr against ₹989 Cr.
- Their portfolios overlap 57.7%: 71 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 | Union Balanced Advantage Fund | Union Multi Asset Allocation Fund |
|---|---|---|
| Fund house | Union Mutual Fund | Union Mutual Fund |
| Category | Balanced Advantage | Multi Asset |
| AUM | ₹1,158 Cr (30-09-2026) | ₹989 Cr (30-09-2026) |
| NAV | ₹21.67 (Direct) | ₹11.91 (Direct) |
| Expense ratio (Direct) | 1.47% | 1.31% |
| Expense ratio (Regular) | 2.56% | 2.40% |
| Riskometer | Very High | Very High |
| Benchmark | NIFTY 50 Hybrid Composite Debt 50:50 Index (TRI) # #Benchmark Disclaimer: The “Product” offered by “the issuer” is not s | 65% Nifty 50 TRI + 20% Nifty Composite Debt Index + 10% Domestic Prices of Gold + 5% Domestic Prices of Silver NIFTY Ben |
| Launch date | 29-12-2017 | 10-09-2024 |
| Minimum investment | ₹1,000 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Sanjay Bembalkar, Gaurav Chopra, Parijat Agrawal, Vishal Thakker | Sanjay Bembalkar, Vinod Malviya, Anindya Sarkar |
| Exit load | Exit load of 1%, if redeemed within 15 days. | Exit load of 1%, if redeemed within 15 days. |
Union Balanced Advantage vs Union 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 |
|---|---|---|---|---|---|---|---|
| Union Balanced Advantage Fund (Direct) | −0.91% | −3.00% | −0.32% | −3.39% | +7.80% | +6.95% | -- |
| Union Multi Asset Allocation Fund (Direct) | −1.81% | −3.56% | −2.22% | +2.50% | -- | -- | -- |
| Balanced Advantage average | −0.55% | −2.88% | +0.08% | −2.08% | +9.14% | +8.35% | -- |
| Multi Asset average | −1.71% | −3.33% | −1.78% | +2.00% | -- | -- | -- |
Category average: the average of the 38 Balanced Advantage funds and the 37 Multi Asset funds, same plan type.
Union Balanced Advantage vs Union Multi Asset Allocation: Year-wise Returns
| Year | Balanced AdvantageUnion Balanced Advantage | Multi Asset AllocationUnion Multi Asset Allocation |
|---|---|---|
| 2026to date | −3.30% | −1.49% |
| 2025 | +7.02% | +20.42% |
| 2024 | +11.26% | -- |
| 2023 | +16.97% | -- |
| 2022 | +3.94% | -- |
| 2021 | +10.65% | -- |
Union Balanced Advantage vs Union Multi Asset Allocation: Rolling Returns
Every holding period of both funds
Rolling returns
Every 1-year holding period, 276 of them, one for each trading day from 15-09-2025 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.
Union Balanced Advantage Fund (Direct)
Union Multi Asset Allocation Fund (Direct)
to
Oct 2025Dec 2024
to
Dec 2025Mar 2025
to
Mar 2026May 2025
to
May 2026Jul 2025
to
Jul 2026Sept 2025
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Union Balanced Advantage | 9.1 | 51.4 | 33.3 | 6.2 | 0.0 | 0.0 | 0.0 | 4.3% | 4.2% | −5.2% | 12.9% |
| Union Multi Asset Allocation | 0.0 | 5.1 | 5.4 | 25.0 | 41.3 | 12.0 | 11.2 | 16.9% | 16.3% | 0.7% | 33.2% |
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 13-09-2024. Past returns do not promise future returns.
Union Balanced Advantage vs Union 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
₹10,000 on the first trading day of every month, from 02-09-2024 to 30-10-2026: 26 instalments, ₹2,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Union Balanced AdvantageUnion Balanced Advantage Fund (Direct) | ₹2,60,000 | ₹2,61,708 | ₹1,708 | 0.6% |
| Union Multi Asset AllocationUnion Multi Asset Allocation Fund (Direct) | ₹2,60,000 | ₹2,79,917 | ₹19,917 | 6.8% |
Union Balanced AdvantageUnion Balanced Advantage Fund (Direct)
Union Multi Asset AllocationUnion 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.
Union Balanced Advantage vs Union Multi Asset Allocation: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Union Balanced Advantage Fund (Direct) | Union Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | −3.39% | +2.50% |
| Standard deviation | 9.82% | 13.22% |
| Sharpe ratio | -0.88 | -0.21 |
| Sortino ratio | -1.16 | -0.28 |
| Maximum drawdown | −8.9% (30-03-2026) | −12.4% (23-03-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 | Union Balanced Advantage Fund (Direct) | Union Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.13% | +8.21% |
| Standard deviation | 9.54% | 11.07% |
| Sharpe ratio | 0.40 | 0.23 |
| Sortino ratio | 0.54 | 0.31 |
| Maximum drawdown | −23.8% (23-03-2020) | −12.4% (23-03-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 05-01-2018 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.
Union Balanced Advantage Fund (Direct)
Union Multi Asset Allocation Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Union Balanced Advantage Fund (Direct) | −8.9% | 18-02-2026 | 30-03-2026 | 03-08-2026 | 4 months | −4.7% |
| Union Multi Asset Allocation Fund (Direct) | −12.4% | 29-01-2026 | 23-03-2026 | Not yet | -- | −7.5% |
From daily values since 13-09-2024, 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.
Union Balanced Advantage Fund (Direct)
Union Multi Asset Allocation Fund (Direct)
Union Balanced Advantage vs Union Multi Asset Allocation: Portfolio Overlap
From each fund's latest monthly portfolio: Union Balanced Advantage Fund, September 2026; Union Multi Asset Allocation Fund, September 2026
Holdings in common
- Overlap
- 57.7%
- Held by both
- 71
- Only in Union Balanced Advantage
- 24
- Only in Union Multi Asset Allocation
- 15
| Security | % of Union Balanced Advantage | % of Union Multi Asset Allocation |
|---|---|---|
| HDFC Bank Ltd. | 4.78% | 4.19% |
| ICICI Bank Ltd. | 3.90% | 4.49% |
| Bharti Airtel Ltd. | 2.89% | 2.67% |
| Reliance Industries Ltd. | 2.85% | 2.44% |
| State Bank of India | 2.02% | 2.34% |
| Axis Bank Ltd. | 2.01% | 2.46% |
| Bajaj Finance Ltd. | 1.71% | 1.68% |
| Canara Bank | 1.43% | 2.45% |
| Engineers India Ltd. | 1.34% | 1.32% |
| Infosys Ltd. | 1.30% | 1.29% |
| Kotak Mahindra Bank Ltd. | 1.28% | 1.50% |
| Eternal Ltd. | 1.87% | 1.16% |
| Gabriel India Ltd. | 1.80% | 1.15% |
| Clean Max Enviro Energy Solutions Ltd. | 1.30% | 1.07% |
| Larsen & Toubro Ltd. | 1.03% | 1.54% |
| Dhoot Transmission Ltd. | 1.42% | 0.99% |
| Dr. Lal Path labs Ltd. | 1.12% | 0.98% |
| Tata Consumer Products Ltd. | 0.97% | 0.87% |
| ZF Commercial Vehicle Control Systems India Ltd. | 0.85% | 0.88% |
| Maruti Suzuki India Ltd. | 0.83% | 1.11% |
| Shadowfax Technologies Ltd. | 0.88% | 0.82% |
| Ajanta Pharma Ltd. | 0.84% | 0.82% |
| Ather Energy Ltd. | 0.80% | 0.84% |
| JSW Infrastructure Ltd. | 0.85% | 0.79% |
| Divi's Laboratories Ltd. | 0.70% | 0.89% |
| Inventurus Knowledge Solutions Ltd. | 0.69% | 0.92% |
| Ultratech Cement Ltd. | 0.68% | 0.72% |
| KRN Heat Exchanger and Refrigeration Ltd. | 0.69% | 0.67% |
| CG Power and Industrial Solutions Ltd. | 0.70% | 0.66% |
| GE Vernova T&D India Ltd. | 0.62% | 0.68% |
| JSW Energy Ltd. | 0.69% | 0.61% |
| Shriram Finance Ltd. | 1.42% | 0.60% |
| Billionbrains Garage Ventures Ltd. | 0.95% | 0.60% |
| Solar Industries India Ltd. | 0.66% | 0.60% |
| One 97 Communications Ltd. | 0.71% | 0.59% |
| Aarti Industries Ltd. | 0.68% | 0.59% |
| HDFC Life Insurance Company Ltd. | 0.59% | 0.59% |
| Cemindia Projects Ltd. | 0.74% | 0.58% |
| The Phoenix Mills Ltd. | 0.84% | 0.56% |
| Bharat Heavy Electricals Ltd. | 0.86% | 0.53% |
| Godrej Properties Ltd. | 0.57% | 0.53% |
| RBL Bank Ltd. | 1.25% | 0.52% |
| Manipal Health Enterprises Ltd | 0.70% | 0.52% |
| Shiprocket Ltd. | 0.65% | 0.52% |
| Delhivery Ltd. | 0.53% | 0.52% |
| Nippon Life India Asset Management Ltd. | 0.76% | 0.51% |
| Bharat Electronics Ltd. | 0.74% | 0.51% |
| Ujjivan Small Finance Bank Ltd. | 0.58% | 0.51% |
| Titan Company Ltd. | 0.52% | 0.49% |
| Gokaldas Exports Ltd. | 0.52% | 0.48% |
| E2E Networks Ltd. | 0.49% | 0.46% |
| Cyient Ltd. | 0.48% | 0.45% |
| Hindustan Unilever Ltd. | 0.75% | 0.44% |
| Pidilite Industries Ltd. | 0.65% | 0.39% |
| Amber Enterprises India Ltd. | 0.39% | 0.56% |
| Patanjali Foods Ltd. | 0.64% | 0.37% |
| Glaxosmithkline Pharmaceuticals Ltd. | 0.36% | 0.60% |
| Oil India Ltd. | 0.35% | 0.59% |
| Sai Life Sciences Ltd. | 1.02% | 0.33% |
| Sun Pharmaceutical Industries Ltd. | 0.77% | 0.33% |
| NTPC Ltd. | 0.31% | 0.68% |
| Trent Ltd. | 0.31% | 0.60% |
| National Stock Exchange of India Ltd. | 0.30% | 0.29% |
| 91 Day Treasury Bills | 0.95% | 0.28% |
| HCL Technologies Ltd. | 0.46% | 0.28% |
| Jindal Steel Ltd. | 0.66% | 0.25% |
| Varun Beverages Ltd. | 0.52% | 0.18% |
| Wockhardt Ltd. | 0.19% | 0.17% |
| LG Electronics India Ltd. | 0.15% | 1.06% |
| Persistent Systems Ltd. | 0.25% | 0.13% |
| 91 Day Treasury Bills | 0.09% | 0.29% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 57.7% means 57.7% 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 Union Balanced Advantage Fund
| Security | % of fund |
|---|---|
| National Bank for Agriculture and Rural Development | 2.15% |
| Small Industries Development Bank of India | 2.12% |
| Indian Railway Finance Corporation Ltd. | 2.12% |
| Punjab National Bank | 2.10% |
| Power Grid Corporation of India Ltd. | 2.08% |
Largest holdings only in Union Multi Asset Allocation Fund
| Security | % of fund |
|---|---|
| Union Gold ETF | 11.71% |
| ICICI Prudential Silver ETF | 3.95% |
| National Bank for Agriculture and Rural Development | 2.49% |
| REC Ltd. | 2.46% |
| Power Finance Corporation Ltd. | 2.44% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Union Balanced Advantage | Union Multi Asset Allocation |
|---|---|---|
| Equity | 74.3% | 67.1% |
| Debt | 22.1% | 11.4% |
| Cash and others | 3.6% | 21.6% |
Market cap of stocks
| Market cap | Union Balanced Advantage | Union Multi Asset Allocation |
|---|---|---|
| Large Cap | 41.5% | 40.1% |
| Mid Cap | 12.4% | 8.4% |
| Small Cap | 17.3% | 16.2% |
| Not on AMFI's list | 3.1% | 2.3% |
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 | Union Balanced Advantage | Union Multi Asset Allocation |
|---|---|---|
| Banks | 16.3% | 17.0% |
| Pharmaceuticals & Biotechnology | 5.6% | 3.1% |
| Finance | 4.8% | 2.3% |
| Auto Components | 4.1% | 3.0% |
| Capital Markets | 3.6% | 2.2% |
| Construction | 3.1% | 3.4% |
| Telecom - Services | 2.9% | 2.7% |
| IT - Software | 2.5% | 2.6% |
The six largest sectors of each fund's stocks, % of the fund.
Union Balanced Advantage vs Union Multi Asset Allocation: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Union Balanced Advantage Fund | Union Multi Asset Allocation Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.47% | 1.31% |
| Base expense ratio (Direct) | 0.96% | 0.91% |
| Total expense ratio (Regular) | 2.56% | 2.40% |
| Base expense ratio (Regular) | 1.88% | 1.85% |
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.
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Union Balanced Advantage Fund vs Union Multi Asset Allocation Fund: Frequently Asked Questions
What is the difference between Union Balanced Advantage Fund and Union Multi Asset Allocation Fund?
Union Balanced Advantage Fund is a Balanced Advantage fund, Union Multi Asset Allocation Fund is a Multi Asset fund, run by Union Mutual Fund. Their portfolios overlap 57.7%. Union Balanced Advantage Fund charges 1.47% a year and Union Multi Asset Allocation Fund 1.31%.
Which has given higher returns, Union Balanced Advantage Fund or Union Multi Asset Allocation Fund?
Over 1 year: Union Balanced Advantage Fund −3.39%, Union Multi Asset Allocation Fund +2.50%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Union Balanced Advantage Fund or Union Multi Asset Allocation Fund?
Union Multi Asset Allocation Fund charges less: 1.31% a year against 1.47%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Union Balanced Advantage Fund and Union Multi Asset Allocation Fund overlap?
57.7%. They hold 71 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, BHARTIARTL. From each fund's latest monthly portfolio.
Which is riskier, Union Balanced Advantage Fund or Union Multi Asset Allocation Fund?
On SEBI's riskometer, Union Balanced Advantage Fund is rated Very High and Union Multi Asset Allocation Fund Very High. Over 1 years, the standard deviation of daily returns was 9.82% and 13.22% a year.
Can I invest in both Union Balanced Advantage Fund and Union Multi Asset Allocation Fund?
Yes. 57.7% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Union Balanced Advantage Fund and Union Multi Asset Allocation Fund?
Union Balanced Advantage Fund: Sanjay Bembalkar, Gaurav Chopra, Parijat Agrawal, Vishal Thakker. Union Multi Asset Allocation Fund: Sanjay Bembalkar, Vinod Malviya, Anindya Sarkar.
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.