Union Multicap Fund vs WhiteOak Capital Multi Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Union Multicap Fund and WhiteOak Capital Multi Cap Fund are both Multi Cap funds. In the 3 years to 30-10-2026, Union Multicap Fund (Direct) returned 14.2% a year and WhiteOak Capital Multi Cap Fund (Direct) returned 17.5% a year. Union Multicap Fund charges 1.39% a year and WhiteOak Capital Multi Cap Fund 0.89% (Direct plans). Their portfolios overlap 25.8%: they hold 37 of the same securities.
WhiteOak Capital Multi Cap Fund
Multi Cap
- 3 year return
- 17.5%
- Expense ratio
- 0.89%
- NAV
- ₹16.08
Which is better, Union Multicap or WhiteOak Capital 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.
- WhiteOak Capital Multi Cap returned more over 3 years: 17.5% a year against 14.2%.
- Union Multicap returned more over 1 year: 2.5% against −0.5%.
- WhiteOak Capital Multi Cap costs less: 0.89% a year against 1.39% (Direct plans).
- WhiteOak Capital Multi Cap swung less over 3 years: a standard deviation of 14.4% a year against 15.0%.
- WhiteOak Capital Multi Cap fell less in its worst fall since 25-09-2023: −16.9% against −19.8%.
- WhiteOak Capital Multi Cap is the larger fund: ₹4,308 Cr against ₹1,516 Cr.
- Their portfolios overlap 25.8%: 37 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 Multicap Fund | WhiteOak Capital Multi Cap Fund |
|---|---|---|
| Fund house | Union Mutual Fund | WhiteOak Capital Mutual Fund |
| Category | Multi Cap | Multi Cap |
| AUM | ₹1,516 Cr (30-09-2026) | ₹4,308 Cr (30-09-2026) |
| NAV | ₹17.49 (Direct) | ₹16.08 (Direct) |
| Expense ratio (Direct) | 1.39% | 0.89% |
| Expense ratio (Regular) | 2.55% | 2.21% |
| Riskometer | Very High | Very High |
| Benchmark | NIFTY 500 Multicap 50:25:25 Total Return Index | NIFTY 500 Multicap 50:25:25 Total Return Index |
| Launch date | 19-12-2022 | 22-09-2023 |
| Minimum investment | ₹1,000 | ₹500 |
| Lock in | None | None |
| Fund managers | Harshad Patwardhan, Sanjay Bembalkar | Ramesh Mantri, Piyush Baranwal, Trupti Agrawal, Dheeresh Pathak, Ashish Agrawal |
| Exit load | Exit load of 1%, if redeemed within 15 days | Nil |
Union Multicap vs WhiteOak Capital 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 |
|---|---|---|---|---|---|---|---|
| Union Multicap Fund (Direct) | −1.63% | −2.51% | +4.54% | +2.52% | +14.18% | -- | -- |
| WhiteOak Capital Multi Cap Fund (Direct) | −1.42% | −4.28% | +3.31% | −0.45% | +17.52% | -- | -- |
| Multi Cap average | −2.65% | −3.95% | +1.99% | −1.14% | +13.54% | -- | -- |
Category average: the average of the 33 Multi Cap funds, same plan type.
Union Multicap vs WhiteOak Capital Multi Cap: Year-wise Returns
| Year | Union MulticapUnion Multicap | WhiteOak Capital Multi CapWhiteOak Capital Multi Cap | Nifty500 Multicap 50:25:25 TRI |
|---|---|---|---|
| 2026to date | +3.55% | +0.42% | −5.56% |
| 2025 | +3.87% | +7.19% | +5.29% |
| 2024 | +24.03% | +30.77% | +19.34% |
| 2023 | +33.64% | -- | +33.74% |
Union Multicap vs WhiteOak Capital Multi Cap: Rolling Returns
Every holding period of both funds, against Nifty500 Multicap 50:25:25 TRI, the benchmark of both
Rolling returns
Every 3-year holding period, 22 of them, one for each trading day from 25-09-2026 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 Multicap Fund (Direct)
WhiteOak Capital Multi Cap Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
to
Sept 2026Oct 2023
to
Oct 2026Oct 2023
to
Oct 2026Oct 2023
to
Oct 2026Oct 2023
to
Oct 2026Oct 2023
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Union Multicap | 0.0 | 0.0 | 0.0 | 95.5 | 4.5 | 0.0 | 0.0 | 14.0% | 14.1% | 13.1% | 15.0% | 100% |
| WhiteOak Capital Multi Cap | 0.0 | 0.0 | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 17.3% | 17.5% | 16.4% | 18.3% | 100% |
| Nifty500 Multicap 50:25:25 TRI | 0.0 | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 10.9% | 11.0% | 10.1% | 12.0% | -- |
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 Nifty500 Multicap 50:25:25 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 25-09-2023. Past returns do not promise future returns.
Union Multicap vs WhiteOak Capital 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 01-09-2023 to 30-10-2026: 38 instalments, ₹3,80,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Union MulticapUnion Multicap Fund (Direct) | ₹3,80,000 | ₹4,33,637 | ₹53,637 | 8.3% |
| WhiteOak Capital Multi CapWhiteOak Capital Multi Cap Fund (Direct) | ₹3,80,000 | ₹4,40,528 | ₹60,528 | 9.3% |
Union MulticapUnion Multicap Fund (Direct)
WhiteOak Capital Multi CapWhiteOak Capital 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.
Union Multicap vs WhiteOak Capital Multi Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Union Multicap Fund (Direct) | WhiteOak Capital Multi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +2.52% | −0.45% |
| Standard deviation | 15.16% | 13.86% |
| Sharpe ratio | -0.18 | -0.41 |
| Sortino ratio | -0.24 | -0.56 |
| Maximum drawdown | −12.7% (23-03-2026) | −15.0% (23-03-2026) |
| Beta | 0.98 | 0.91 |
| Alpha | +8.30% | +4.59% |
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 Multicap Fund (Direct) | WhiteOak Capital Multi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +14.18% | +17.52% |
| Standard deviation | 15.01% | 14.37% |
| Sharpe ratio | 0.54 | 0.80 |
| Sortino ratio | 0.73 | 1.09 |
| Maximum drawdown | −19.8% (28-02-2025) | −16.9% (28-02-2025) |
| Beta | 0.97 | 0.93 |
| Alpha | +3.08% | +6.61% |
From daily NAVs, 30-10-2023 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 Multicap Fund (Direct) | WhiteOak Capital Multi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +16.48% | +16.50% |
| Standard deviation | 13.87% | 14.33% |
| Sharpe ratio | 0.74 | 0.73 |
| Sortino ratio | 1.00 | 0.99 |
| Maximum drawdown | −19.8% (28-02-2025) | −16.9% (28-02-2025) |
| Beta | 0.96 | 0.93 |
| Alpha | +3.62% | +6.65% |
From daily NAVs, 26-12-2022 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 Multicap Fund (Direct)
WhiteOak Capital Multi Cap Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Union Multicap Fund (Direct) | −19.8% | 23-09-2024 | 28-02-2025 | 07-05-2026 | 14 months | −7.0% |
| WhiteOak Capital Multi Cap Fund (Direct) | −16.9% | 11-12-2024 | 28-02-2025 | 27-06-2025 | 4 months | −6.8% |
| Nifty500 Multicap 50:25:25 TRI | −19.8% | 26-09-2024 | 03-03-2025 | 03-08-2026 | 17 months | −8.0% |
From daily values since 25-09-2023, 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 Multicap Fund (Direct)
WhiteOak Capital Multi Cap Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 3-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Union Multicap Fund (Direct)
WhiteOak Capital Multi Cap Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
Against Nifty500 Multicap 50:25:25 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Union Multicap Fund (Direct) | 103% | 90% | 4.26% |
| WhiteOak Capital Multi Cap Fund (Direct) | 110% | 83% | 3.80% |
From month-end values since 25-09-2023. 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.
Union Multicap vs WhiteOak Capital Multi Cap: Portfolio Overlap
From each fund's latest monthly portfolio: Union Multicap Fund, September 2026; WhiteOak Capital Multi Cap Fund, September 2026
Holdings in common
- Overlap
- 25.8%
- Held by both
- 37
- Only in Union Multicap
- 40
- Only in WhiteOak Capital Multi Cap
- 171
| Security | % of Union Multicap | % of WhiteOak Capital Multi Cap |
|---|---|---|
| ICICI Bank Ltd. | 4.20% | 5.07% |
| HDFC Bank Ltd. | 2.95% | 2.10% |
| State Bank of India | 1.69% | 1.63% |
| Bharti Airtel Ltd. | 1.35% | 2.69% |
| Reliance Industries Ltd. | 1.12% | 1.19% |
| The Phoenix Mills Ltd. | 1.37% | 1.05% |
| Persistent Systems Ltd. | 1.13% | 1.00% |
| Coforge Ltd. | 1.33% | 0.99% |
| Torrent Pharmaceuticals Ltd. | 0.98% | 1.14% |
| Max Financial Services Ltd. | 0.90% | 1.16% |
| Fortis Healthcare Ltd. | 1.16% | 0.77% |
| Bharat Heavy Electricals Ltd. | 1.49% | 0.74% |
| The Federal Bank Ltd. | 0.66% | 1.19% |
| Axis Bank Ltd. | 1.53% | 0.65% |
| Azad Engineering Ltd. | 0.65% | 0.90% |
| Info Edge (India) Ltd. | 1.65% | 0.63% |
| Navin Fluorine International Ltd. | 1.54% | 0.60% |
| Marico Ltd. | 1.51% | 0.55% |
| Acutaas Chemicals Ltd. | 0.99% | 0.55% |
| CarTrade Tech Ltd. | 1.55% | 0.47% |
| IPCA Laboratories Ltd. | 1.41% | 0.45% |
| Sai Life Sciences Ltd. | 1.86% | 0.44% |
| S.J.S. Enterprises Ltd. | 2.02% | 0.38% |
| Solar Industries India Ltd. | 1.31% | 0.36% |
| Larsen & Toubro Ltd. | 2.41% | 0.35% |
| Multi Commodity Exchange of India Ltd. | 1.64% | 0.35% |
| Hitachi Energy India Ltd. | 0.58% | 0.31% |
| Sun Pharmaceutical Industries Ltd. | 2.07% | 0.30% |
| Karur Vysya Bank Ltd. | 2.32% | 0.26% |
| GE Vernova T&D India Ltd. | 0.84% | 0.26% |
| Cummins India Ltd. | 0.83% | 0.25% |
| Cholamandalam Investment & Finance Co. Ltd. | 1.01% | 0.20% |
| Ujjivan Small Finance Bank Ltd. | 1.02% | 0.14% |
| Aditya Birla Capital Ltd. | 0.96% | 0.12% |
| Sona Blw Precision Forgings Ltd. | 1.09% | 0.04% |
| Nippon Life India Asset Management Ltd. | 0.80% | 0.03% |
| Ather Energy Ltd. | 1.35% | 0.01% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 25.8% means 25.8% 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 Multicap Fund
| Security | % of fund |
|---|---|
| One 97 Communications Ltd. | 2.09% |
| Dixon Technologies (India) Ltd. | 1.96% |
| Gabriel India Ltd. | 1.77% |
| Mphasis Ltd. | 1.76% |
| Radico Khaitan Ltd. | 1.70% |
Largest holdings only in WhiteOak Capital Multi Cap Fund
| Security | % of fund |
|---|---|
| Nestle India Limited | 2.51% |
| Eternal Limited | 1.69% |
| Nexus Select Trust - REIT | 1.67% |
| Mahindra & Mahindra Limited | 1.49% |
| Bharti Hexacom Limited | 1.17% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Union Multicap | WhiteOak Capital Multi Cap |
|---|---|---|
| Equity | 92.7% | 88.1% |
| Debt | 0.1% | 3.7% |
| Cash and others | 7.2% | 8.3% |
Market cap of stocks
| Market cap | Union Multicap | WhiteOak Capital Multi Cap |
|---|---|---|
| Large Cap | 31.0% | 31.6% |
| Mid Cap | 29.9% | 24.0% |
| Small Cap | 31.7% | 29.6% |
| Not on AMFI's list | 0.0% | 2.9% |
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 Multicap | WhiteOak Capital Multi Cap |
|---|---|---|
| Banks | 16.3% | 14.3% |
| Auto Components | 8.6% | 2.1% |
| Pharmaceuticals & Biotechnology | 8.3% | 7.7% |
| Finance | 3.9% | 7.3% |
| Retailing | 3.2% | 5.1% |
| IT - Software | 4.2% | 3.4% |
| Industrial Products | 4.2% | 3.2% |
| Electrical Equipment | 4.1% | 3.5% |
| Healthcare Services | 1.2% | 3.9% |
| Telecom - Services | 1.4% | 3.9% |
The six largest sectors of each fund's stocks, % of the fund.
Union Multicap vs WhiteOak Capital Multi Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Union Multicap Fund | WhiteOak Capital Multi Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.39% | 0.89% |
| Base expense ratio (Direct) | 0.83% | 0.50% |
| Total expense ratio (Regular) | 2.55% | 2.21% |
| Base expense ratio (Regular) | 1.82% | 1.62% |
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 Multicap with
Union Multicap Fund vs WhiteOak Capital Multi Cap Fund: Frequently Asked Questions
What is the difference between Union Multicap Fund and WhiteOak Capital Multi Cap Fund?
Both are Multi Cap funds, run by Union Mutual Fund and WhiteOak Capital Mutual Fund. Their portfolios overlap 25.8%. Union Multicap Fund charges 1.39% a year and WhiteOak Capital Multi Cap Fund 0.89%.
Which has given higher returns, Union Multicap Fund or WhiteOak Capital Multi Cap Fund?
Over 1 year: Union Multicap Fund +2.52%, WhiteOak Capital Multi Cap Fund −0.45%. Over 3 years: Union Multicap Fund +14.18% a year, WhiteOak Capital Multi Cap Fund +17.52% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Union Multicap Fund or WhiteOak Capital Multi Cap Fund?
WhiteOak Capital Multi Cap Fund charges less: 0.89% a year against 1.39%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Union Multicap Fund and WhiteOak Capital Multi Cap Fund overlap?
25.8%. They hold 37 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, SBIN. From each fund's latest monthly portfolio.
Which is riskier, Union Multicap Fund or WhiteOak Capital Multi Cap Fund?
On SEBI's riskometer, Union Multicap Fund is rated Very High and WhiteOak Capital Multi Cap Fund Very High. Over 3 years, the standard deviation of daily returns was 15.01% and 14.37% a year.
Which is better for SIP, Union Multicap Fund or WhiteOak Capital Multi Cap Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹4,18,952 in Union Multicap Fund (XIRR 8.0% a year) and ₹4,24,483 in WhiteOak Capital Multi Cap Fund (XIRR 8.9% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both Union Multicap Fund and WhiteOak Capital Multi Cap Fund?
Yes. 25.8% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Union Multicap Fund and WhiteOak Capital Multi Cap Fund?
Union Multicap Fund: Harshad Patwardhan, Sanjay Bembalkar. WhiteOak Capital Multi Cap Fund: Ramesh Mantri, Piyush Baranwal, Trupti Agrawal, Dheeresh Pathak, Ashish 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.