Union Gold ETF fund of fund vs Union Multi Asset Allocation Fund
Direct Plan, Growth option · Data as on 30-10-2026
Union Gold ETF fund of fund is a Fund of Funds fund and Union Multi Asset Allocation Fund is a Multi Asset fund. In the year to 30-10-2026, Union Gold ETF fund of fund (Direct) returned 15.4% and Union Multi Asset Allocation Fund (Direct) returned 2.5%. Union Gold ETF fund of fund charges 0.32% a year and Union Multi Asset Allocation Fund 1.31% (Direct plans). Their portfolios overlap 11.7%: they hold 1 of the same security.
Union Gold ETF fund of fund
Fund of Funds
- 1 year return
- 15.4%
- Expense ratio
- 0.32%
- NAV
- ₹15.93
Union Multi Asset Allocation Fund
Multi Asset
- 1 year return
- 2.5%
- Expense ratio
- 1.31%
- NAV
- ₹11.91
Which is better, Union Gold ETF fund of fund 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 Gold ETF fund of fund returned more over 1 year: 15.4% against 2.5%.
- Union Gold ETF fund of fund costs less: 0.32% a year against 1.31% (Direct plans).
- Union Multi Asset Allocation fell less in its worst fall since 04-03-2025: −12.4% against −24.6%.
- Union Multi Asset Allocation is the larger fund: ₹989 Cr against ₹174 Cr.
- Their portfolios overlap 11.7%: 1 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 Gold ETF fund of fund | Union Multi Asset Allocation Fund |
|---|---|---|
| Fund house | Union Mutual Fund | Union Mutual Fund |
| Category | Fund of Funds | Multi Asset |
| AUM | ₹174 Cr (30-09-2026) | ₹989 Cr (30-09-2026) |
| NAV | ₹15.93 (Direct) | ₹11.91 (Direct) |
| Expense ratio (Direct) | 0.32% | 1.31% |
| Expense ratio (Regular) | 0.56% | 2.40% |
| Riskometer | High | Very High |
| Benchmark | Gold Index | 65% Nifty 50 TRI + 20% Nifty Composite Debt Index + 10% Domestic Prices of Gold + 5% Domestic Prices of Silver NIFTY Ben |
| Launch date | 28-02-2025 | 10-09-2024 |
| Minimum investment | ₹1,000 | ₹1,000 |
| Lock in | None | None |
| Fund managers | FM- Mr. Vinod Malviya | Sanjay Bembalkar, Vinod Malviya, Anindya Sarkar |
| Exit load | Exit load of 1%, if redeemed within 1 year. | Exit load of 1%, if redeemed within 15 days. |
Union Gold ETF fund of fund 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 Gold ETF fund of fund (Direct) | −5.49% | −2.00% | −6.29% | +15.40% | -- | -- | -- |
| Union Multi Asset Allocation Fund (Direct) | −1.81% | −3.56% | −2.22% | +2.50% | -- | -- | -- |
| Multi Asset average | −1.71% | −3.33% | −1.78% | +2.00% | -- | -- | -- |
Category average: the average of the 37 Multi Asset funds, same plan type.
Union Gold ETF fund of fund vs Union Multi Asset Allocation: Year-wise Returns
| Year | Gold ETF fund of fundUnion Gold ETF fund of fund | Multi Asset AllocationUnion Multi Asset Allocation |
|---|---|---|
| 2026to date | +4.40% | −1.49% |
| 2025 | -- | +20.42% |
Union Gold ETF fund of fund vs Union Multi Asset Allocation: Rolling Returns
Every holding period of both funds
Rolling returns
Every 1-year holding period, 162 of them, one for each trading day from 04-03-2026 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.
Union Gold ETF fund of fund (Direct)
Union Multi Asset Allocation Fund (Direct)
to
Mar 2026May 2025
to
May 2026Jun 2025
to
Jun 2026Jul 2025
to
Jul 2026Sept 2025
to
Sept 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Union Gold ETF fund of fund | 0.0 | 0.0 | 0.0 | 3.7 | 3.7 | 3.1 | 89.5 | 47.3% | 48.3% | 11.5% | 82.4% |
| Union Multi Asset Allocation | 0.0 | 8.6 | 6.8 | 34.6 | 39.5 | 6.8 | 3.7 | 14.8% | 15.0% | 0.7% | 29.3% |
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 04-03-2025. Past returns do not promise future returns.
Union Gold ETF fund of fund 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 04-03-2025 to 30-10-2026: 20 instalments, ₹2,00,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Union Gold ETF fund of fundUnion Gold ETF fund of fund (Direct) | ₹2,00,000 | ₹2,29,085 | ₹29,085 | 16.5% |
| Union Multi Asset AllocationUnion Multi Asset Allocation Fund (Direct) | ₹2,00,000 | ₹2,08,615 | ₹8,615 | 4.9% |
Union Gold ETF fund of fundUnion Gold ETF fund of 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 Gold ETF fund of fund 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 Gold ETF fund of fund (Direct) | Union Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.40% | +2.50% |
| Standard deviation | 30.89% | 13.22% |
| Sharpe ratio | 0.33 | -0.21 |
| Sortino ratio | 0.45 | -0.28 |
| Maximum drawdown | −24.6% (23-03-2026) | −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 Gold ETF fund of fund (Direct) | Union Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +30.76% | +8.21% |
| Standard deviation | 29.44% | 11.07% |
| Sharpe ratio | 0.86 | 0.23 |
| Sortino ratio | 1.23 | 0.31 |
| Maximum drawdown | −24.6% (23-03-2026) | −12.4% (23-03-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 04-03-2025 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.
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 Gold ETF fund of 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 Gold ETF fund of fund (Direct) | −24.6% | 29-01-2026 | 23-03-2026 | Not yet | -- | −21.6% |
| Union Multi Asset Allocation Fund (Direct) | −12.4% | 29-01-2026 | 23-03-2026 | Not yet | -- | −7.5% |
From daily values since 04-03-2025, 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.
Union Gold ETF fund of fund (Direct)
Union Multi Asset Allocation Fund (Direct)
Union Gold ETF fund of fund vs Union Multi Asset Allocation: Portfolio Overlap
From each fund's latest monthly portfolio: Union Gold ETF fund of fund, September 2026; Union Multi Asset Allocation Fund, September 2026
Holdings in common
- Overlap
- 11.7%
- Held by both
- 1
- Only in Union Gold ETF fund of fund
- 0
- Only in Union Multi Asset Allocation
- 85
| Security | % of Union Gold ETF fund of fund | % of Union Multi Asset Allocation |
|---|---|---|
| Union Gold ETF | 99.37% | 11.71% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 11.7% means 11.7% 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 Gold ETF fund of fund
Every holding of this fund is also held by the other.
Largest holdings only in Union Multi Asset Allocation Fund
| Security | % of fund |
|---|---|
| ICICI Bank Ltd. | 4.49% |
| HDFC Bank Ltd. | 4.19% |
| ICICI Prudential Silver ETF | 3.95% |
| Bharti Airtel Ltd. | 2.67% |
| National Bank for Agriculture and Rural Development | 2.49% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Union Gold ETF fund of fund | Union Multi Asset Allocation |
|---|---|---|
| Equity | 0.0% | 67.1% |
| Debt | 0.0% | 11.4% |
| Cash and others | 100.0% | 21.6% |
Market cap of stocks
| Market cap | Union Gold ETF fund of fund | Union Multi Asset Allocation |
|---|---|---|
| Large Cap | -- | 40.1% |
| Mid Cap | -- | 8.4% |
| Small Cap | -- | 16.2% |
| Not on AMFI's list | -- | 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 Gold ETF fund of fund | Union Multi Asset Allocation |
|---|---|---|
| Banks | 0.0% | 17.0% |
| Construction | 0.0% | 3.4% |
| Pharmaceuticals & Biotechnology | 0.0% | 3.1% |
| Auto Components | 0.0% | 3.0% |
| Telecom - Services | 0.0% | 2.7% |
| IT - Software | 0.0% | 2.6% |
The six largest sectors of each fund's stocks, % of the fund.
Union Gold ETF fund of fund vs Union Multi Asset Allocation: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Union Gold ETF fund of fund | Union Multi Asset Allocation Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.32% | 1.31% |
| Base expense ratio (Direct) | 0.27% | 0.91% |
| Total expense ratio (Regular) | 0.56% | 2.40% |
| Base expense ratio (Regular) | 0.48% | 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
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Union Gold ETF fund of fund vs Union Multi Asset Allocation Fund: Frequently Asked Questions
What is the difference between Union Gold ETF fund of fund and Union Multi Asset Allocation Fund?
Union Gold ETF fund of fund is a Fund of Funds fund, Union Multi Asset Allocation Fund is a Multi Asset fund, run by Union Mutual Fund. Their portfolios overlap 11.7%. Union Gold ETF fund of fund charges 0.32% a year and Union Multi Asset Allocation Fund 1.31%.
Which has given higher returns, Union Gold ETF fund of fund or Union Multi Asset Allocation Fund?
Over 1 year: Union Gold ETF fund of fund +15.40%, 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 Gold ETF fund of fund or Union Multi Asset Allocation Fund?
Union Gold ETF fund of fund charges less: 0.32% a year against 1.31%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Union Gold ETF fund of fund and Union Multi Asset Allocation Fund overlap?
11.7%. They hold 1 of the same securities, the largest shared ones being UNIONGOLD. From each fund's latest monthly portfolio.
Which is riskier, Union Gold ETF fund of fund or Union Multi Asset Allocation Fund?
On SEBI's riskometer, Union Gold ETF fund of fund is rated High and Union Multi Asset Allocation Fund Very High. Over 1 years, the standard deviation of daily returns was 30.89% and 13.22% a year.
Can I invest in both Union Gold ETF fund of fund and Union Multi Asset Allocation Fund?
Yes. 11.7% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Union Gold ETF fund of fund and Union Multi Asset Allocation Fund?
Union Gold ETF fund of fund: FM- Mr. Vinod Malviya. 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.