Union Equity Savings Fund vs Union Multi Asset Allocation Fund
Direct Plan, Growth option · Data as on 30-10-2026
Union Equity Savings Fund is an Equity Savings fund and Union Multi Asset Allocation Fund is a Multi Asset fund. In the year to 30-10-2026, Union Equity Savings Fund (Direct) returned 0.7% and Union Multi Asset Allocation Fund (Direct) returned 2.5%. Union Equity Savings Fund charges 2.11% a year and Union Multi Asset Allocation Fund 1.31% (Direct plans). Their portfolios overlap 41.4%: they hold 60 of the same securities.
Union Equity Savings Fund
Equity Savings
- 1 year return
- 0.7%
- Expense ratio
- 2.11%
- NAV
- ₹17.94
Union Multi Asset Allocation Fund
Multi Asset
- 1 year return
- 2.5%
- Expense ratio
- 1.31%
- NAV
- ₹11.91
Which is better, Union Equity Savings 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 0.7%.
- Union Multi Asset Allocation costs less: 1.31% a year against 2.11% (Direct plans).
- Union Equity Savings fell less in its worst fall since 13-09-2024: −4.5% against −12.4%.
- Union Multi Asset Allocation is the larger fund: ₹989 Cr against ₹114 Cr.
- Their portfolios overlap 41.4%: 60 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 Equity Savings Fund | Union Multi Asset Allocation Fund |
|---|---|---|
| Fund house | Union Mutual Fund | Union Mutual Fund |
| Category | Equity Savings | Multi Asset |
| AUM | ₹114 Cr (30-09-2026) | ₹989 Cr (30-09-2026) |
| NAV | ₹17.94 (Direct) | ₹11.91 (Direct) |
| Expense ratio (Direct) | 2.11% | 1.31% |
| Expense ratio (Regular) | 2.60% | 2.40% |
| Riskometer | Moderately High | Very High |
| Benchmark | CRISIL Equity Savings Index (TRI)# #CRISIL Benchmark Disclaimer: CRISIL Indices are the sole property of CRISIL Limited | 65% Nifty 50 TRI + 20% Nifty Composite Debt Index + 10% Domestic Prices of Gold + 5% Domestic Prices of Silver NIFTY Ben |
| Launch date | 09-08-2018 | 10-09-2024 |
| Minimum investment | ₹1,000 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Sanjay Bembalkar, Gaurav Chopra, Parijat Agrawal | 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 Equity Savings 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 Equity Savings Fund (Direct) | −0.44% | −1.10% | +1.18% | +0.67% | +6.60% | +5.74% | -- |
| Union Multi Asset Allocation Fund (Direct) | −1.81% | −3.56% | −2.22% | +2.50% | -- | -- | -- |
| Equity Savings average | −0.02% | −0.68% | +1.71% | +2.12% | +8.55% | +7.55% | -- |
| Multi Asset average | −1.71% | −3.33% | −1.78% | +2.00% | -- | -- | -- |
Category average: the average of the 23 Equity Savings funds and the 37 Multi Asset funds, same plan type.
Union Equity Savings vs Union Multi Asset Allocation: Year-wise Returns
| Year | Equity SavingsUnion Equity Savings | Multi Asset AllocationUnion Multi Asset Allocation |
|---|---|---|
| 2026to date | +0.39% | −1.49% |
| 2025 | +5.49% | +20.42% |
| 2024 | +8.94% | -- |
| 2023 | +12.03% | -- |
| 2022 | +2.36% | -- |
| 2021 | +9.35% | -- |
Union Equity Savings 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 Equity Savings 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 Equity Savings | 0.4 | 66.3 | 33.3 | 0.0 | 0.0 | 0.0 | 0.0 | 4.3% | 4.2% | −0.1% | 8.6% |
| 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 Equity Savings 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 Equity SavingsUnion Equity Savings Fund (Direct) | ₹2,60,000 | ₹2,67,583 | ₹7,583 | 2.6% |
| Union Multi Asset AllocationUnion Multi Asset Allocation Fund (Direct) | ₹2,60,000 | ₹2,79,917 | ₹19,917 | 6.8% |
Union Equity SavingsUnion Equity Savings 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 Equity Savings 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 Equity Savings Fund (Direct) | Union Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +0.67% | +2.50% |
| Standard deviation | 5.27% | 13.22% |
| Sharpe ratio | -0.87 | -0.21 |
| Sortino ratio | -1.15 | -0.28 |
| Maximum drawdown | −4.5% (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 Equity Savings Fund (Direct) | Union Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.35% | +8.21% |
| Standard deviation | 5.70% | 11.07% |
| Sharpe ratio | 0.37 | 0.23 |
| Sortino ratio | 0.49 | 0.31 |
| Maximum drawdown | −14.4% (23-03-2020) | −12.4% (23-03-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 20-08-2018 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 Equity Savings 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 Equity Savings Fund (Direct) | −4.5% | 18-02-2026 | 30-03-2026 | 18-06-2026 | 3 months | −2.1% |
| 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 Equity Savings Fund (Direct)
Union Multi Asset Allocation Fund (Direct)
Union Equity Savings vs Union Multi Asset Allocation: Portfolio Overlap
From each fund's latest monthly portfolio: Union Equity Savings Fund, September 2026; Union Multi Asset Allocation Fund, September 2026
Holdings in common
- Overlap
- 41.4%
- Held by both
- 60
- Only in Union Equity Savings
- 21
- Only in Union Multi Asset Allocation
- 26
| Security | % of Union Equity Savings | % of Union Multi Asset Allocation |
|---|---|---|
| HDFC Bank Ltd. | 4.85% | 4.19% |
| ICICI Bank Ltd. | 3.63% | 4.49% |
| Bharti Airtel Ltd. | 2.65% | 2.67% |
| Reliance Industries Ltd. | 2.33% | 2.44% |
| Axis Bank Ltd. | 2.18% | 2.46% |
| Bajaj Finance Ltd. | 3.04% | 1.68% |
| Kotak Mahindra Bank Ltd. | 2.37% | 1.50% |
| State Bank of India | 1.18% | 2.34% |
| Infosys Ltd. | 0.89% | 1.29% |
| Engineers India Ltd. | 0.81% | 1.32% |
| NTPC Ltd. | 2.65% | 0.68% |
| Dr. Lal Path labs Ltd. | 0.67% | 0.98% |
| Shadowfax Technologies Ltd. | 0.64% | 0.82% |
| CG Power and Industrial Solutions Ltd. | 0.60% | 0.66% |
| One 97 Communications Ltd. | 0.65% | 0.59% |
| Maruti Suzuki India Ltd. | 0.57% | 1.11% |
| Trent Ltd. | 0.56% | 0.60% |
| Tata Consumer Products Ltd. | 0.55% | 0.87% |
| Inventurus Knowledge Solutions Ltd. | 0.53% | 0.92% |
| Clean Max Enviro Energy Solutions Ltd. | 0.53% | 1.07% |
| Delhivery Ltd. | 0.58% | 0.52% |
| Solar Industries India Ltd. | 0.52% | 0.60% |
| Ather Energy Ltd. | 0.52% | 0.84% |
| Ujjivan Small Finance Bank Ltd. | 0.86% | 0.51% |
| RBL Bank Ltd. | 0.51% | 0.52% |
| KRN Heat Exchanger and Refrigeration Ltd. | 0.49% | 0.67% |
| Gabriel India Ltd. | 0.48% | 1.15% |
| JSW Infrastructure Ltd. | 0.47% | 0.79% |
| Eternal Ltd. | 0.47% | 1.16% |
| Ajanta Pharma Ltd. | 0.47% | 0.82% |
| Hindustan Unilever Ltd. | 0.51% | 0.44% |
| Dhoot Transmission Ltd. | 0.44% | 0.99% |
| Kirloskar Oil Engines Ltd. | 0.43% | 1.08% |
| Cemindia Projects Ltd. | 0.43% | 0.58% |
| Shriram Finance Ltd. | 0.42% | 0.60% |
| Larsen & Toubro Ltd. | 0.40% | 1.54% |
| ZF Commercial Vehicle Control Systems India Ltd. | 0.40% | 0.88% |
| Aarti Industries Ltd. | 0.39% | 0.59% |
| Bharat Heavy Electricals Ltd. | 0.38% | 0.53% |
| Patanjali Foods Ltd. | 4.81% | 0.37% |
| Nippon Life India Asset Management Ltd. | 0.37% | 0.51% |
| Manipal Health Enterprises Ltd | 0.34% | 0.52% |
| Sai Life Sciences Ltd. | 0.70% | 0.33% |
| Godrej Properties Ltd. | 0.33% | 0.53% |
| Glaxosmithkline Pharmaceuticals Ltd. | 0.32% | 0.60% |
| Oil India Ltd. | 0.32% | 0.59% |
| FSN E-Commerce Ventures Ltd. | 0.30% | 0.56% |
| Gokaldas Exports Ltd. | 0.30% | 0.48% |
| 91 Day Treasury Bills | 2.81% | 0.29% |
| JSW Energy Ltd. | 0.29% | 0.61% |
| 91 Day Treasury Bills | 2.73% | 0.28% |
| Karur Vysya Bank Ltd. | 0.28% | 1.02% |
| Sun Pharmaceutical Industries Ltd. | 0.27% | 0.33% |
| Ultratech Cement Ltd. | 0.27% | 0.72% |
| Billionbrains Garage Ventures Ltd. | 0.25% | 0.60% |
| Bharat Electronics Ltd. | 0.22% | 0.51% |
| Varun Beverages Ltd. | 0.43% | 0.18% |
| Jindal Steel Ltd. | 0.18% | 0.25% |
| E2E Networks Ltd. | 0.17% | 0.46% |
| Wockhardt Ltd. | 0.13% | 0.17% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 41.4% means 41.4% 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 Equity Savings Fund
| Security | % of fund |
|---|---|
| National Bank for Agriculture and Rural Development | 8.69% |
| 91 Day Treasury Bills | 4.37% |
| Indian Railway Finance Corporation Ltd. | 4.26% |
| Indus Towers Ltd. | 3.69% |
| Small Industries Development Bank of India | 3.44% |
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% |
| Canara Bank | 2.45% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Union Equity Savings | Union Multi Asset Allocation |
|---|---|---|
| Equity | 69.5% | 67.1% |
| Debt | 26.3% | 11.4% |
| Cash and others | 4.2% | 21.6% |
Market cap of stocks
| Market cap | Union Equity Savings | Union Multi Asset Allocation |
|---|---|---|
| Large Cap | 42.8% | 40.1% |
| Mid Cap | 14.4% | 8.4% |
| Small Cap | 11.5% | 16.2% |
| Not on AMFI's list | 0.8% | 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 Equity Savings | Union Multi Asset Allocation |
|---|---|---|
| Banks | 16.4% | 17.0% |
| Telecom - Services | 6.3% | 2.7% |
| Agricultural Food & other Products | 5.4% | 1.2% |
| Pharmaceuticals & Biotechnology | 4.4% | 3.1% |
| Power | 3.5% | 2.4% |
| Finance | 3.5% | 2.3% |
| Construction | 1.6% | 3.4% |
| Auto Components | 1.3% | 3.0% |
| IT - Software | 1.3% | 2.6% |
The six largest sectors of each fund's stocks, % of the fund.
Union Equity Savings vs Union Multi Asset Allocation: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Union Equity Savings Fund | Union Multi Asset Allocation Fund |
|---|---|---|
| Total expense ratio (Direct) | 2.11% | 1.31% |
| Base expense ratio (Direct) | 1.25% | 0.91% |
| Total expense ratio (Regular) | 2.60% | 2.40% |
| Base expense ratio (Regular) | 1.66% | 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.
More comparisons
Each fund against the others of its category
Compare Union Equity Savings with
Compare Union Multi Asset Allocation with
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- Union Multi Asset Allocation vs WhiteOak Capital Multi Asset Allocation
Union Equity Savings Fund vs Union Multi Asset Allocation Fund: Frequently Asked Questions
What is the difference between Union Equity Savings Fund and Union Multi Asset Allocation Fund?
Union Equity Savings Fund is an Equity Savings fund, Union Multi Asset Allocation Fund is a Multi Asset fund, run by Union Mutual Fund. Their portfolios overlap 41.4%. Union Equity Savings Fund charges 2.11% a year and Union Multi Asset Allocation Fund 1.31%.
Which has given higher returns, Union Equity Savings Fund or Union Multi Asset Allocation Fund?
Over 1 year: Union Equity Savings Fund +0.67%, 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 Equity Savings Fund or Union Multi Asset Allocation Fund?
Union Multi Asset Allocation Fund charges less: 1.31% a year against 2.11%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Union Equity Savings Fund and Union Multi Asset Allocation Fund overlap?
41.4%. They hold 60 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, BHARTIARTL. From each fund's latest monthly portfolio.
Which is riskier, Union Equity Savings Fund or Union Multi Asset Allocation Fund?
On SEBI's riskometer, Union Equity Savings Fund is rated Moderately High and Union Multi Asset Allocation Fund Very High. Over 1 years, the standard deviation of daily returns was 5.27% and 13.22% a year.
Can I invest in both Union Equity Savings Fund and Union Multi Asset Allocation Fund?
Yes. 41.4% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Union Equity Savings Fund and Union Multi Asset Allocation Fund?
Union Equity Savings Fund: Sanjay Bembalkar, Gaurav Chopra, Parijat Agrawal. 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.