Union Multi Asset Allocation Fund vs WhiteOak Capital Multi Asset Allocation Fund
Direct Plan, Growth option · Data as on 30-10-2026
Union Multi Asset Allocation Fund and WhiteOak Capital Multi Asset Allocation Fund are both Multi Asset funds. In the year to 30-10-2026, Union Multi Asset Allocation Fund (Direct) returned 2.5% and WhiteOak Capital Multi Asset Allocation Fund (Direct) returned 6.0%. Union Multi Asset Allocation Fund charges 1.31% a year and WhiteOak Capital Multi Asset Allocation Fund 0.65% (Direct plans). Their portfolios overlap 15.9%: they hold 38 of the same securities.
Union Multi Asset Allocation Fund
Multi Asset
- 1 year return
- 2.5%
- Expense ratio
- 1.31%
- NAV
- ₹11.91
WhiteOak Capital Multi Asset Allocation Fund
Multi Asset
- 1 year return
- 6.0%
- Expense ratio
- 0.65%
- NAV
- ₹16.30
Which is better, Union Multi Asset Allocation or WhiteOak Capital 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.
- WhiteOak Capital Multi Asset Allocation returned more over 1 year: 6.0% against 2.5%.
- WhiteOak Capital Multi Asset Allocation costs less: 0.65% a year against 1.31% (Direct plans).
- WhiteOak Capital Multi Asset Allocation fell less in its worst fall since 13-09-2024: −6.1% against −12.4%.
- Union Multi Asset Allocation holds more in large companies: 40.1% of the fund in large caps against 19.9%.
- WhiteOak Capital Multi Asset Allocation is the larger fund: ₹9,111 Cr against ₹989 Cr.
- Their portfolios overlap 15.9%: 38 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 Multi Asset Allocation Fund | WhiteOak Capital Multi Asset Allocation Fund |
|---|---|---|
| Fund house | Union Mutual Fund | WhiteOak Capital Mutual Fund |
| Category | Multi Asset | Multi Asset |
| AUM | ₹989 Cr (30-09-2026) | ₹9,111 Cr (30-09-2026) |
| NAV | ₹11.91 (Direct) | ₹16.30 (Direct) |
| Expense ratio (Direct) | 1.31% | 0.65% |
| Expense ratio (Regular) | 2.40% | 1.67% |
| Riskometer | Very High | High |
| Benchmark | 65% Nifty 50 TRI + 20% Nifty Composite Debt Index + 10% Domestic Prices of Gold + 5% Domestic Prices of Silver NIFTY Ben | 30% BSE 500 TRI + 50% CRISIL Short Term Bond Index + 16% Domestic prices of Gold + 1% Domestic prices of Silver + 3% iCO |
| Launch date | 10-09-2024 | 19-05-2023 |
| Minimum investment | ₹1,000 | ₹500 |
| Lock in | None | None |
| Fund managers | Sanjay Bembalkar, Vinod Malviya, Anindya Sarkar | Ramesh Mantri, Piyush Baranwal, Dheeresh Pathak, Ashish Agrawal, Trupti Agrawal |
| Exit load | Exit load of 1%, if redeemed within 15 days. | Nil |
Union Multi Asset Allocation vs WhiteOak Capital 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 Multi Asset Allocation Fund (Direct) | −1.81% | −3.56% | −2.22% | +2.50% | -- | -- | -- |
| WhiteOak Capital Multi Asset Allocation Fund (Direct) | −1.16% | −1.15% | +1.63% | +6.03% | +16.11% | -- | -- |
| Multi Asset average | −1.71% | −3.33% | −1.78% | +2.00% | +14.20% | -- | -- |
Category average: the average of the 37 Multi Asset funds, same plan type.
Union Multi Asset Allocation vs WhiteOak Capital Multi Asset Allocation: Year-wise Returns
| Year | UnionUnion Multi Asset Allocation | WhiteOak CapitalWhiteOak Capital Multi Asset Allocation |
|---|---|---|
| 2026to date | −1.49% | +4.15% |
| 2025 | +20.42% | +18.39% |
| 2024 | -- | +18.99% |
Union Multi Asset Allocation vs WhiteOak Capital 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 Multi Asset Allocation Fund (Direct)
WhiteOak Capital 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 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% |
| WhiteOak Capital Multi Asset Allocation | 0.0 | 0.0 | 7.3 | 39.6 | 45.8 | 7.3 | 0.0 | 15.3% | 15.3% | 5.2% | 22.7% |
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 Multi Asset Allocation vs WhiteOak Capital 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 13-09-2024 to 30-10-2026: 26 instalments, ₹2,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Union Multi Asset AllocationUnion Multi Asset Allocation Fund (Direct) | ₹2,60,000 | ₹2,79,917 | ₹19,917 | 6.8% |
| WhiteOak Capital Multi Asset AllocationWhiteOak Capital Multi Asset Allocation Fund (Direct) | ₹2,60,000 | ₹2,88,366 | ₹28,366 | 9.6% |
Union Multi Asset AllocationUnion Multi Asset Allocation Fund (Direct)
WhiteOak Capital Multi Asset AllocationWhiteOak Capital 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 Multi Asset Allocation vs WhiteOak Capital Multi Asset Allocation: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Union Multi Asset Allocation Fund (Direct) | WhiteOak Capital Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +2.50% | +6.03% |
| Standard deviation | 13.22% | 6.99% |
| Sharpe ratio | -0.21 | 0.11 |
| Sortino ratio | -0.28 | 0.16 |
| Maximum drawdown | −12.4% (23-03-2026) | −6.1% (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 Multi Asset Allocation Fund (Direct) | WhiteOak Capital Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.21% | +15.15% |
| Standard deviation | 11.07% | 5.49% |
| Sharpe ratio | 0.23 | 1.64 |
| Sortino ratio | 0.31 | 2.34 |
| Maximum drawdown | −12.4% (23-03-2026) | −6.1% (23-03-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 13-09-2024 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 Multi Asset Allocation Fund (Direct)
WhiteOak Capital 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 Multi Asset Allocation Fund (Direct) | −12.4% | 29-01-2026 | 23-03-2026 | Not yet | -- | −7.5% |
| WhiteOak Capital Multi Asset Allocation Fund (Direct) | −6.1% | 02-03-2026 | 23-03-2026 | 16-06-2026 | 3 months | −3.8% |
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 Multi Asset Allocation Fund (Direct)
WhiteOak Capital Multi Asset Allocation Fund (Direct)
Union Multi Asset Allocation vs WhiteOak Capital Multi Asset Allocation: Portfolio Overlap
From each fund's latest monthly portfolio: Union Multi Asset Allocation Fund, September 2026; WhiteOak Capital Multi Asset Allocation Fund, September 2026
Holdings in common
- Overlap
- 15.9%
- Held by both
- 38
- Only in Union Multi Asset Allocation
- 48
- Only in WhiteOak Capital Multi Asset Allocation
- 162
| Security | % of Union Multi Asset Allocation | % of WhiteOak Capital Multi Asset Allocation |
|---|---|---|
| ICICI Bank Ltd. | 4.49% | 2.89% |
| Bharti Airtel Ltd. | 2.67% | 1.41% |
| HDFC Bank Ltd. | 4.19% | 1.30% |
| Eternal Ltd. | 1.16% | 0.85% |
| State Bank of India | 2.34% | 0.83% |
| Reliance Industries Ltd. | 2.44% | 0.80% |
| Kotak Mahindra Bank Ltd. | 1.50% | 0.69% |
| REC Ltd. | 2.46% | 0.53% |
| Ultratech Cement Ltd. | 0.72% | 0.52% |
| Maruti Suzuki India Ltd. | 1.11% | 0.49% |
| Titan Company Ltd. | 0.49% | 0.54% |
| Axis Bank Ltd. | 2.46% | 0.48% |
| Bharat Electronics Ltd. | 0.51% | 0.48% |
| Divi's Laboratories Ltd. | 0.89% | 0.37% |
| Infosys Ltd. | 1.29% | 0.34% |
| Bajaj Finance Ltd. | 1.68% | 0.31% |
| Tata Consultancy Services Ltd. | 0.56% | 0.29% |
| National Stock Exchange of India Ltd. | 0.29% | 0.41% |
| Larsen & Toubro Ltd. | 1.54% | 0.28% |
| Bharat Heavy Electricals Ltd. | 0.53% | 0.20% |
| Oil India Ltd. | 0.59% | 0.19% |
| Sun Pharmaceutical Industries Ltd. | 0.33% | 0.17% |
| NTPC Ltd. | 0.68% | 0.16% |
| Pidilite Industries Ltd. | 0.39% | 0.16% |
| Billionbrains Garage Ventures Ltd. | 0.60% | 0.15% |
| KRN Heat Exchanger and Refrigeration Ltd. | 0.67% | 0.13% |
| Persistent Systems Ltd. | 0.13% | 0.25% |
| CG Power and Industrial Solutions Ltd. | 0.66% | 0.12% |
| The Phoenix Mills Ltd. | 0.56% | 0.12% |
| Shiprocket Ltd. | 0.52% | 0.12% |
| Oil & Natural Gas Corporation Ltd. | 0.41% | 0.12% |
| Solar Industries India Ltd. | 0.60% | 0.11% |
| Dr. Lal Path labs Ltd. | 0.98% | 0.09% |
| Kirloskar Oil Engines Ltd. | 1.08% | 0.08% |
| Manipal Health Enterprises Ltd | 0.52% | 0.07% |
| Clean Max Enviro Energy Solutions Ltd. | 1.07% | 0.05% |
| ICICI Prudential Asset Management Company Ltd. | 0.82% | 0.05% |
| Ajanta Pharma Ltd. | 0.82% | 0.01% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 15.9% means 15.9% 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 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% |
| Canara Bank | 2.45% |
| Power Finance Corporation Ltd. | 2.44% |
Largest holdings only in WhiteOak Capital Multi Asset Allocation Fund
| Security | % of fund |
|---|---|
| Nexus Select Trust - REIT | 3.64% |
| Embassy Office Parks REIT | 2.88% |
| ICICI Prudential Gold ETF | 2.82% |
| Cube Highways Trust-InvIT Fund | 2.53% |
| Knowledge Realty Trust | 2.18% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Union Multi Asset Allocation | WhiteOak Capital Multi Asset Allocation |
|---|---|---|
| Equity | 67.1% | 28.2% |
| Debt | 11.4% | 31.0% |
| Cash and others | 21.6% | 40.8% |
Market cap of stocks
| Market cap | Union Multi Asset Allocation | WhiteOak Capital Multi Asset Allocation |
|---|---|---|
| Large Cap | 40.1% | 19.9% |
| Mid Cap | 8.4% | 3.1% |
| Small Cap | 16.2% | 3.5% |
| Foreign stocks | 0.0% | 0.4% |
| Not on AMFI's list | 2.3% | 1.4% |
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 Multi Asset Allocation | WhiteOak Capital Multi Asset Allocation |
|---|---|---|
| Banks | 17.0% | 6.2% |
| Construction | 3.4% | 0.3% |
| Pharmaceuticals & Biotechnology | 3.1% | 1.9% |
| Auto Components | 3.0% | 0.1% |
| Telecom - Services | 2.7% | 1.4% |
| IT - Software | 2.6% | 2.0% |
| Finance | 2.3% | 1.7% |
| Food Products | 0.0% | 1.4% |
The six largest sectors of each fund's stocks, % of the fund.
Union Multi Asset Allocation vs WhiteOak Capital Multi Asset Allocation: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Union Multi Asset Allocation Fund | WhiteOak Capital Multi Asset Allocation Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.31% | 0.65% |
| Base expense ratio (Direct) | 0.91% | 0.38% |
| Total expense ratio (Regular) | 2.40% | 1.67% |
| Base expense ratio (Regular) | 1.85% | 1.25% |
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 Multi Asset Allocation with
Compare WhiteOak Capital Multi Asset Allocation with
Union Multi Asset Allocation Fund vs WhiteOak Capital Multi Asset Allocation Fund: Frequently Asked Questions
What is the difference between Union Multi Asset Allocation Fund and WhiteOak Capital Multi Asset Allocation Fund?
Both are Multi Asset funds, run by Union Mutual Fund and WhiteOak Capital Mutual Fund. Their portfolios overlap 15.9%. Union Multi Asset Allocation Fund charges 1.31% a year and WhiteOak Capital Multi Asset Allocation Fund 0.65%.
Which has given higher returns, Union Multi Asset Allocation Fund or WhiteOak Capital Multi Asset Allocation Fund?
Over 1 year: Union Multi Asset Allocation Fund +2.50%, WhiteOak Capital Multi Asset Allocation Fund +6.03%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Union Multi Asset Allocation Fund or WhiteOak Capital Multi Asset Allocation Fund?
WhiteOak Capital Multi Asset Allocation Fund charges less: 0.65% a year against 1.31%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Union Multi Asset Allocation Fund and WhiteOak Capital Multi Asset Allocation Fund overlap?
15.9%. They hold 38 of the same securities, the largest shared ones being ICICIBANK, BHARTIARTL, HDFCBANK. From each fund's latest monthly portfolio.
Which is riskier, Union Multi Asset Allocation Fund or WhiteOak Capital Multi Asset Allocation Fund?
On SEBI's riskometer, Union Multi Asset Allocation Fund is rated Very High and WhiteOak Capital Multi Asset Allocation Fund High. Over 1 years, the standard deviation of daily returns was 13.22% and 6.99% a year.
Can I invest in both Union Multi Asset Allocation Fund and WhiteOak Capital Multi Asset Allocation Fund?
Yes. 15.9% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Union Multi Asset Allocation Fund and WhiteOak Capital Multi Asset Allocation Fund?
Union Multi Asset Allocation Fund: Sanjay Bembalkar, Vinod Malviya, Anindya Sarkar. WhiteOak Capital Multi Asset Allocation Fund: Ramesh Mantri, Piyush Baranwal, Dheeresh Pathak, Ashish Agrawal, Trupti Agrawal.
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.