HDFC Multi Asset Allocation Fund

Multi AssetDirect and Regular plans, Growth and IDCW options

Data as on 30-10-2026

HDFC Multi Asset Allocation Fund is a Multi Asset fund run by HDFC Mutual Fund. On 30-09-2026, it managed ₹5,782 Cr of investors' money. In the 3 years to 30-10-2026, its Direct plan returned 11.1% a year and its Regular plan returned 9.9% a year.

NAV (Direct plan): ₹81.63; ▲ 0.07%30-10-2026
NAV (Regular plan): ₹72.18; ▲ 0.07%30-10-2026
Expense ratio: 1.01%Direct2.02%Regular; 1.01%; A year
Riskometer: Very High; Set by the fund house
3 year return: 11.1%Direct9.9%Regular; 11.1%; A year

HDFC Multi Asset Allocation Fund NAV Today

NAV on 30-10-2026: Direct Plan Growth ₹81.63 (up 0.07% that day); Regular Plan Growth ₹72.18 (up 0.07% that day).

This fund (Direct plan)

₹81.632

HDFC Multi Asset Allocation Fund Returns vs Multi Asset Funds

Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.

Trailing returns
Period	1M	3M	6M	1Y	3Y	5Y	10Y
This fund (Direct)	−0.73%	−3.58%	−1.86%	−2.29%	+11.12%	+10.21%	+10.99%
This fund (Regular)	−0.81%	−3.82%	−2.35%	−3.29%	+9.90%	+8.91%	+9.88%
Multi Asset average	−1.71%	−3.33%	−1.78%	+2.00%	+14.20%	+12.56%	+12.92%
Best in Multi Asset	+0.22%	+1.02%	+3.21%	+8.36%	+21.56%	+18.33%	+18.26%
Worst in Multi Asset	−3.85%	−5.28%	−5.92%	−3.66%	+7.53%	+8.22%	+10.69%
Rank in Multi Asset	4/37	20/36	16/34	26/31	13/15	7/8	5/6

Category rows compare the Direct plans of 37 Multi Asset funds. Rank 1 is the highest return. This fund's benchmark is 65% Nifty 50 TRI + 22.5% Nifty Composite Debt Index + 10% Domestic Price of Gold + 2.5% Domestic Price of Silver. Returns of that index are not available to us, so the category average is the comparison.

HDFC Multi Asset Allocation Fund Year-wise Returns

Return of each calendar year
Year	Direct	Regular
2026to date	−3.74%	−4.55%
2025	+14.45%	+13.21%
2024	+14.82%	+13.49%
2023	+19.43%	+17.98%
2022	+5.77%	+4.34%
2021	+19.65%	+17.91%

HDFC Multi Asset Allocation Fund Rolling Returns

The return of every holding period in the fund's history, not only the one that ends today

Rolling returns

Each point is the yearly return of one 3-year holding period, plotted on the day it ended. There are 2,654 periods, one for each trading day from 01-01-2016 to 30-10-2026.

−5%0%5%10%15%20%25%30%

Nov 2013
to
Nov 2016Sept 2015
to
Sept 2018Jul 2017
to
Jul 2020May 2019
to
May 2022Mar 2021
to
Mar 2024Dec 2022
to
Dec 2025

HDFC Multi Asset Allocation Fund (Direct)Category average, 37 Multi Asset funds

Every holding period at a glance

Period	Periods	Median	Lowest	Highest	With a loss	Category median	Beat category
1 year	3,131	11.1%	−19.9%	64.3%	7%	12.0%	25%
2 years	2,895	11.6%	−9.0%	38.1%	2%	12.7%	19%
3 years	2,654	12.8%	−3.6%	26.7%	1%	14.1%	12%
5 years	2,171	11.3%	1.2%	22.9%	0%	12.6%	2%
7 years	1,685	11.3%	4.9%	15.8%	0%	12.4%	1%
10 years	941	12.0%	10.8%	13.0%	0%	13.2%	0%

Every SIP holding period at a glance

Period	Periods	Median	Lowest	Highest	With a loss	Category median	Beat category
1 year	154	10.9%	−29.0%	46.4%	10%	12.3%	32%
2 years	142	10.9%	−14.1%	30.3%	3%	12.2%	21%
3 years	130	11.4%	−8.6%	22.9%	2%	13.6%	11%
5 years	106	13.5%	−2.2%	19.2%	1%	15.1%	3%
7 years	82	13.2%	1.4%	16.9%	0%	14.5%	1%
10 years	46	13.2%	11.1%	14.5%	0%	15.0%	0%

Lumpsum: the yearly rate (CAGR) from the NAV on a period's first day to the NAV on its last. SIP: the XIRR of the monthly instalments and their value on the last day. "With a loss" counts the periods that ended below the money put in. "Beat category" counts the periods in which the fund did better than the average of the 37 Multi Asset funds (Direct plans, each weighted the same) over the same days. Past returns do not promise future returns.

HDFC Multi Asset Allocation Fund Risk

How much it swings, and the falls an investor had to sit through

Risk and return

Measure	HDFC Multi Asset Allocation Fund (Direct)This fund	Category average
Return (CAGR)	−2.29%	+2.25%
Standard deviation	9.51%	10.59%
Sharpe ratio	-0.79	-0.28
Sortino ratio	-1.05	-0.38
Maximum drawdown	−8.9% (23-03-2026)	−10.3% (23-03-2026)

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.

Measure	HDFC Multi Asset Allocation Fund (Direct)This fund	Category average
Return (CAGR)	+11.12%	+14.48%
Standard deviation	7.64%	8.81%
Sharpe ratio	0.67	0.96
Sortino ratio	0.91	1.30
Maximum drawdown	−8.9% (23-03-2026)	−10.3% (23-03-2026)

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.

Measure	HDFC Multi Asset Allocation Fund (Direct)This fund	Category average
Return (CAGR)	+10.21%	+12.42%
Standard deviation	7.46%	8.63%
Sharpe ratio	0.59	0.77
Sortino ratio	0.82	1.04
Maximum drawdown	−8.9% (23-03-2026)	−10.3% (23-03-2026)

From daily NAVs, 29-10-2021 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.

Measure	HDFC Multi Asset Allocation Fund (Direct)This fund	Category average
Return (CAGR)	+10.99%	+12.83%
Standard deviation	9.13%	9.19%
Sharpe ratio	0.61	0.81
Sortino ratio	0.82	1.08
Maximum drawdown	−27.1% (23-03-2020)	−25.9% (23-03-2020)

From daily NAVs, 28-10-2016 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.

Measure	HDFC Multi Asset Allocation Fund (Direct)This fund	Category average
Return (CAGR)	+11.06%	+12.21%
Standard deviation	7.94%	8.34%
Sharpe ratio	0.63	0.74
Sortino ratio	0.85	0.99
Maximum drawdown	−27.1% (23-03-2020)	−25.9% (23-03-2020)

From daily NAVs, 01-01-2013 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.

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.

−30%−25%−20%−15%−10%−5%0%

2014201620182020202220242026

HDFC Multi Asset Allocation Fund (Direct)Category average, 37 Multi Asset funds

	Worst fall	High before it	Bottom	Back at the high	Time to climb back	Below its high today
HDFC Multi Asset Allocation Fund (Direct)	−27.1%	20-02-2020	23-03-2020	23-07-2020	4 months	−6.2%
Category average	−25.9%	20-02-2020	23-03-2020	31-07-2020	4 months	−6.1%

From the Direct plan's daily NAV since 01-01-2013, adjusted for unit splits, and the average of the 37 Multi Asset funds (Direct plans, each weighted the same) over the same days. "Time to climb back" runs from the bottom to the first day back at the old high.

HDFC Multi Asset Allocation Fund vs Other Multi Asset Funds

The five Multi Asset funds with the best three year return, and this fund. Direct plans.

Fund name	Rank	AUM (Cr)	Exp. ratio	1Y return	3Y return	3Y alpha	3Y beta	3Y Sharpe	3Y Sortino
Quant Multi Asset Allocation Fund	1/15	6,608	1.13%	+8.36%	+21.56%	--	--	1.37	1.95	Compare
Nippon India Multi Asset Allocation Fund	2/15	18,044	0.48%	+3.05%	+17.96%	--	--	1.19	1.63	Compare
DSP Multi Asset Allocation Fund	3/15	10,820	0.62%	+4.15%	+17.30%	--	--	1.32	1.84	Compare
Kotak Multi Asset Allocation Fund	4/15	15,236	0.63%	+4.34%	+16.23%	--	--	0.83	1.11	Compare
WhiteOak Capital Multi Asset Allocation Fund	5/15	9,111	0.65%	+6.03%	+16.11%	--	--	1.76	2.50	Compare
HDFC Multi Asset Allocation Fund	13/15	5,782	1.01%	−2.29%	+11.12%	--	--	0.67	0.91

AUM is each fund's size at the end of its last reported month, from its own portfolio file. We calculate the risk ratios from daily NAVs over the last three years. The risk-free return is what NSE's overnight rate index earned over the same years. Alpha and beta compare each fund with its own benchmark's TRI. "--" means we have no figure: for alpha and beta, no daily series for that benchmark.

HDFC Multi Asset Allocation Fund Expense Ratio and Costs

What each plan charges a year, in force from 01-10-2026

Plan	Base expense ratio	Brokerage	Transaction costs	Levies and GST	Total expense ratio	Multi Asset median	Cost rank (1 = cheapest)
Direct	0.73%	0.02%	0.01%	0.25%	1.01%	0.85%	26/37
Regular	1.58%	0.02%	0.01%	0.41%	2.02%	2.15%	14/37

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, the cost of executing trades, and statutory levies with GST. From AMFI's expense ratio file. Cost rank: where this plan comes when the Multi Asset funds' plans of the same type are sorted from the lowest total expense ratio to the highest.

Direct vs Regular: what the gap cost

Both plans own the same portfolio, so the difference in what they earned is the Regular plan's extra cost, taken out of its NAV.

Over the last	Regular	Direct	Direct earned more by	₹1 lakh became (Regular)	₹1 lakh became (Direct)
1 year	−3.29%	−2.29%	1.00%	₹96,710	₹97,710
3 years	9.90%	11.12%	1.22% a year	₹1,32,737	₹1,37,207
5 years	8.91%	10.21%	1.30% a year	₹1,53,228	₹1,62,594
10 years	9.88%	10.99%	1.11% a year	₹2,56,559	₹2,83,686

Returns over more than 1 year are a rate a year (CAGR). ₹1 lakh invested once at the start of each period, valued on the last NAV.

HDFC Multi Asset Allocation Fund SIP Calculator

What a one-time or monthly investment in this fund would be worth today, from its own NAV history

Growth of an investment

Every month₹

Step up each year

PeriodFor

₹10,000 on the first trading day of every month, from 01-01-2013 to 30-10-2026: 166 instalments, ₹16,60,000 in all.

Investment	Invested	Value now	Gain	Return a year
Direct planHDFC Multi Asset Allocation Fund (Direct)	₹16,60,000	₹38,35,886	₹21,75,886	11.3%
Regular planHDFC Multi Asset Allocation Fund (Regular)	₹16,60,000	₹35,19,618	₹18,59,618	10.2%
Category averageCategory average, 37 Multi Asset funds	₹16,60,000	₹44,06,615	₹27,46,615	13.1%

₹0₹10.0 L₹20.0 L₹30.0 L₹40.0 L₹50.0 L

2014201620182020202220242026

Direct planHDFC Multi Asset Allocation Fund (Direct)Regular planHDFC Multi Asset Allocation Fund (Regular)Category averageCategory average, 37 Multi Asset fundsAmount invested

From each plan's published NAV (Growth option) and the category average, 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.

HDFC Multi Asset Allocation Fund Asset Allocation

Asset allocation as on 30-09-2026

What the fund holds

69.1%Equity

Asset	Fund	Category
Equity	69.1%	58.2%
Cash and others	19.7%	25.6%
Debt	11.2%	16.2%

Market cap of stocks

Market cap	Fund	Category
Large Cap	56.0%	35.1%
Mid Cap	5.3%	11.8%
Small Cap	7.8%	9.3%

Share of the whole fund. Category: the average of the Multi Asset funds that hold stocks. Groups follow AMFI's latest list, as SEBI defines them: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.

Credit rating

Bonds and money market papers by credit rating, % of the fund. Category: the average of 37 Multi Asset funds.

Rating	Fund	Category
Sovereign	3.1%	5.3%
AAA and A1+	5.2%	8.2%
AA	2.9%	2.4%

HDFC Multi Asset Allocation Fund Sector Allocation

Sector allocation of the fund's stocks as on 30-09-2026

Largest sectors

Banks18.0%
Petroleum Products5.4%
Automobiles5.3%
Pharmaceuticals & Biotechnology4.6%
IT - Software4.1%
Telecom - Services3.5%
Insurance3.3%
Power2.9%
Transport Services2.6%
Finance2.3%

The ten largest of 29 sectors. The other 19 add up to 17.0%.

Sector changes

Sector	July 2026	August 2026	September 2026	Change
Banks	16.1%	16.2%	18.0%	+1.9%
Petroleum Products	5.7%	5.5%	5.4%	−0.3%
Automobiles	6.5%	6.4%	5.3%	−1.2%
Pharmaceuticals & Biotechnology	5.5%	5.7%	4.6%	−0.9%
IT - Software	4.5%	4.5%	4.1%	−0.4%

Each sector's share of the fund at the end of each month. The five largest sectors of September 2026. Change: from July 2026 to September 2026, in % of the fund.

HDFC Multi Asset Allocation Fund Portfolio Holdings

As on 30-09-2026 · 113 holdings · from the fund house's monthly portfolio

Holdings	Sector / Rating	Weight%	1M change
HDFC Gold Exchange Traded Fund		11.71%
HDFC Bank Ltd.	Banks	6.86%	+60.0%
Reliance Industries Ltd.	Petroleum Products	4.86%	0.0%
ICICI Bank Ltd.	Banks	4.74%	0.0%
Bharti Airtel Ltd.	Telecom - Services	2.89%	−4.6%
Kotak Mahindra Bank Limited	Banks	2.60%	0.0%
Axis Bank Ltd.	Banks	2.54%	0.0%
Maruti Suzuki India Limited	Automobiles	1.94%	+19.0%
NTPC Limited	Power	1.87%	0.0%
HDFC Silver ETF		1.81%
Sun Pharmaceutical Industries Ltd.	Pharmaceuticals & Biotechnology	1.72%	0.0%
Divis Laboratories Ltd.	Pharmaceuticals & Biotechnology	1.61%	0.0%
Infosys Limited	IT - Software	1.29%	0.0%
Muthoot Finance Ltd. · Bond	CRISIL - AA+	1.29%
InterGlobe Aviation Ltd.	Transport Services	1.29%	0.0%
State Bank of India	Banks	1.24%	0.0%
Tata Consultancy Services Ltd.	IT - Software	1.24%	0.0%
Tata Steel Ltd.	Ferrous Metals	1.21%	+111.1%
7.18% GOI MAT 140833 · Government security	Sovereign	1.20%
Larsen and Toubro Ltd.	Construction	1.17%	0.0%
ICICI Lombard General Insurance Co	Insurance	1.15%	+39.5%
Bajaj Finserv Ltd.	Finance	1.07%	−1.8%
Havells India Ltd.	Consumer Durables	1.05%	+49.1%
Power Grid Corporation of India Ltd.	Power	1.02%	0.0%
HDFC Life Insurance Company Limited	Insurance	1.01%	+40.2%
Oil & Natural Gas Corporation Ltd.	Oil	0.98%	+38.9%
Dr. Lal Path Labs Ltd	Healthcare Services	0.96%	0.0%
Godrej Consumer Products Ltd.	Personal Products	0.95%	+43.1%
Hindustan Unilever Ltd.	Diversified FMCG	0.93%	+119.3%
Motherson Sumi Wiring India Limited	Auto Components	0.91%	New
Hero MotoCorp Ltd.	Automobiles	0.91%	0.0%
Eternal Limited	Retailing	0.89%	−20.0%
SBI Life Insurance Company Ltd.	Insurance	0.88%	0.0%
Hyundai Motor India Limited	Automobiles	0.87%	−17.9%
Muthoot Finance Ltd. · Bond	CRISIL - AA+	0.86%
Mahindra & Mahindra Financial Services Ltd. · Bond	CRISIL - AAA	0.86%
HCL Technologies Ltd.	IT - Software	0.85%	0.0%
Embassy Office Parks REIT	Realty	0.68%
ITC LIMITED	Diversified FMCG	0.68%	0.0%
Apollo Hospitals Enterprise Ltd.	Healthcare Services	0.66%	0.0%
Bajaj Auto Limited	Automobiles	0.66%	0.0%
Eicher Motors Ltd.	Automobiles	0.65%	0.0%
Indus Towers Limited	Telecom - Services	0.65%	0.0%
Jubilant Foodworks Limited	Leisure Services	0.63%	0.0%
7.1% GOI MAT 180429 · Government security	Sovereign	0.61%
Lupin Ltd.	Pharmaceuticals & Biotechnology	0.61%	0.0%
State Bank of India (Tier 2 - Basel III) · Bond	CRISIL - AAA	0.58%
BROOKFIELD INDIA REAL ESTATE TRUST	Realty	0.58%
Cipla Ltd.	Pharmaceuticals & Biotechnology	0.54%	−29.7%
United Spirits Limited	Beverages	0.54%	0.0%
Tech Mahindra Ltd.	IT - Software	0.53%	0.0%
TCPL PACKAGING LIMITED	Industrial Products	0.53%	0.0%
Bharat Petroleum Corporation Ltd.	Petroleum Products	0.52%	0.0%
Tata Motors Limited	Agricultural, Commercial & Construction Vehicles	0.51%	0.0%
Creditaccess Grameen Limited	Finance	0.44%	0.0%
LIC Housing Finance Ltd. · Bond	CRISIL - AAA	0.43%
LIC Housing Finance Ltd. · Bond	CRISIL - AAA	0.43%
360 One Prime Limited · Bond	ICRA - AA	0.43%
Bajaj Finance Ltd.	Finance	0.43%	0.0%
SMFG India Credit Company Ltd · Bond	CARE - AAA	0.43%
Punjab National Bank · Certificate of deposit	CARE - A1+	0.42%
Siddhivinayak Securitisation Trust (Originator - Sikka Ports & Terminals Limited)	CRISIL - AAA(SO)	0.41%
Ambuja Cements Ltd.	Cement & Cement Products	0.40%	0.0%
Paradeep Phosphates Limited	Fertilizers & Agrochemicals	0.40%	0.0%
Balkrishna Industries Ltd.	Auto Components	0.40%	0.0%
Aptus Value Housing Finance India Ltd	Finance	0.40%	0.0%
Jindal Steel Limited.	Ferrous Metals	0.39%	0.0%
Nexus Select Trust REIT	Realty	0.38%
Cholamandalam Investment & Finance Co. Ltd. · Bond	ICRA - AA+	0.35%
Delhivery Limited	Transport Services	0.35%	0.0%
Whirlpool of India Ltd.	Consumer Durables	0.34%	0.0%
Hindalco Industries Ltd.	Non - Ferrous Metals	0.33%	0.0%
Blue Dart Express Ltd.	Transport Services	0.32%	0.0%
Suprajit Engineering Ltd.	Auto Components	0.29%	0.0%
POWERGRID Infrastructure Investment Trust	Power	0.28%
Titan Company Ltd.	Consumer Durables	0.27%	0.0%
7.17% GOI MAT 170430 · Government security	Sovereign	0.26%
7.1% GOI MAT 080434 · Government security	Sovereign	0.26%
7.23% GOI MAT 150439 · Government security	Sovereign	0.26%
Small Industries Development Bank · Bond	CRISIL - AAA	0.26%
Mahindra & Mahindra Ltd.	Automobiles	0.25%	−78.4%
Orient Electric Ltd	Consumer Durables	0.25%	0.0%
Bayer Cropscience Ltd	Fertilizers & Agrochemicals	0.25%	+31.5%
Great Eastern Shipping Company Ltd.	Transport Services	0.23%	0.0%
Gateway Distriparks Limited	Transport Services	0.23%	0.0%
Star Health and Allied Insurance Company Ltd	Insurance	0.23%	0.0%
PI Industries Ltd.	Fertilizers & Agrochemicals	0.23%	New
Sonata Software Ltd.	IT - Software	0.22%	0.0%
Prestige Estates Projects Ltd.	Realty	0.22%	0.0%
Transport Corporation of India Ltd.	Transport Services	0.21%	0.0%
CIE Automotive India Ltd	Auto Components	0.20%	0.0%
HDFC Bank Ltd. · Bond	CRISIL - AAA	0.18%
Indraprastha Gas Ltd.	Gas	0.18%	0.0%
7.06% GOI MAT 100428 · Government security	Sovereign	0.17%
6.94% GOI MAT 110536 · Government security	Sovereign	0.17%
Bank of Baroda · Certificate of deposit	CARE - A1+	0.17%
Cube Highways Trust	Transport Infrastructure	0.17%
National Bank for Agri & Rural Dev. · Bond	ICRA - AAA	0.17%
Small Industries Development Bank · Bond	CRISIL - AAA	0.17%
UTI Asset Management Company Ltd	Capital Markets	0.15%	0.0%
Biocon Ltd.	Pharmaceuticals & Biotechnology	0.14%	0.0%
G R Infraprojects Limited	Construction	0.13%	0.0%
National Bank for Agri & Rural Dev. · Bond	ICRA - AAA	0.13%
Pipeline Infrastructure Pvt. Ltd. · Bond	CRISIL - AAA	0.10%
Power Finance Corporation Ltd. · Bond	CRISIL - AAA	0.09%
6.54% GOI MAT 170132 · Government security	Sovereign	0.08%
7.34% GOI MAT 220464 · Government security	Sovereign	0.08%
REC Limited. · Bond	CRISIL - AAA	0.08%
Bank of Baroda (Tier 2 - Basel III) · Bond	CRISIL - AAA	0.08%
Power Finance Corporation Ltd. · Bond	CRISIL - AAA	0.08%
National Bank for Agri & Rural Dev. · Bond	CRISIL - AAA	0.08%
National Bank for Agri & Rural Dev. · Bond	ICRA - AAA	0.04%
RAAJMARG INFRA INVESTMENT TRUST	Transport Infrastructure	0.03%

HDFC Multi Asset Allocation Fund Stocks Bought and Sold

All changes are between August 2026 and September 2026

Stocks bought and sold in September 2026

HDFC Bank Ltd.	Added	+60.0%	6.86%
Bharti Airtel Ltd.	Reduced	−4.6%	2.89%
Maruti Suzuki India Limited	Added	+19.0%	1.94%
Bajaj Finserv Ltd.	Reduced	−1.8%	1.07%
Tata Steel Ltd.	Added	+111.1%	1.21%
Mahindra & Mahindra Ltd.	Reduced	−78.4%	0.25%
ICICI Lombard General Insurance Co	Added	+39.5%	1.15%
Hyundai Motor India Limited	Reduced	−17.9%	0.87%
Eternal Limited	Reduced	−20.0%	0.89%
Havells India Ltd.	Added	+49.1%	1.05%
HDFC Life Insurance Company Limited	Added	+40.2%	1.01%
Oil & Natural Gas Corporation Ltd.	Added	+38.9%	0.98%
Godrej Consumer Products Ltd.	Added	+43.1%	0.95%
Hindustan Unilever Ltd.	Added	+119.3%	0.93%
Motherson Sumi Wiring India Limited	New	New	0.91%
Cipla Ltd.	Reduced	−29.7%	0.54%
City Union Bank Ltd.	Sold out	−100%	was 0.71%
Gland Pharma Ltd.	Sold out	−100%	was 0.38%
Ipca Laboratories Ltd.	Sold out	−100%	was 0.37%
Bayer Cropscience Ltd	Added	+31.5%	0.25%
PI Industries Ltd.	New	New	0.23%
Kwality Wall’s (India) Limited	Sold out	−100%	was 0.01%

A change is counted by the number of shares the fund holds, not by price. A stock can become a smaller part of the fund in a month when the fund bought more of it, if its price fell. Debt papers are left out.

What HDFC Multi Asset Allocation Fund bought and sold

HDFC Multi Asset Allocation Fund Portfolio Overlap

Funds with the most similar portfolios, across every fund house and category

Fund	Overlap	Holdings in common
HDFC Equity Savings FundEquity Savings · HDFC	56.8%	80	Compare
HDFC Retirement Fund - Equity PlanSolution · HDFC	52.0%	42	Compare
SBI BSE 100 ETFETF · SBI	50.2%	43	Compare
Bandhan Nifty 100 Index FundIndex · Bandhan	49.6%	41	Compare
ICICI Prudential Large Cap FundLarge Cap · ICICI Prudential	49.3%	40	Compare
LIC MF Nifty 100 ETFETF · LIC	49.1%	40	Compare
Motilal Oswal Nifty 100 ETFETF · Motilal Oswal	49.1%	40	Compare
HDFC NIFTY 100 Index FundIndex · HDFC	49.1%	40	Compare

Overlap: for each holding both funds own, the smaller of its two weights, added up. 40% means 40% of each fund's money sits in positions the other also holds. From each fund's latest monthly portfolio, matched by ISIN. Cash and hedged positions are left out. Funds that overlap under 10% are not listed. A high overlap does not make two funds the same: their costs, lock-in and category can differ.

HDFC Multi Asset Allocation Fund Overview

Fund facts from the scheme summary document, as on 16-10-2026

Expense ratio (Direct): 1.01%
Expense ratio (Regular): 2.02%
Category: Multi Asset
Risk: Very High
Launch date: 17-08-2005
Minimum investment: ₹100
Minimum additional investment: ₹100
AUM: ₹5,781.82 Cr (30-09-2026)
Lock in: None
Scheme code (Direct): 119131
ISIN (Direct): INF179K01XW8
Scheme code (Regular): 103131
ISIN (Regular): INF179K01AP0
NAV history: From 01-01-2013, 13.8 years

Benchmark: 65% Nifty 50 TRI + 22.5% Nifty Composite Debt Index + 10% Domestic Price of Gold + 2.5% Domestic Price of Silver
Exit load: Exit Load for units in excess of 15% of the investment,1% will be charged for redemption within 12 months.

Tax on HDFC Multi Asset Allocation Fund returns

How the gain is taxed depends on what the fund holds. A fund with 65% or more in Indian stocks is taxed as an equity fund: 20% within 1 year, 12.5% after, on gains above ₹1.25 lakh a year.
A fund with 65% or more in debt is taxed at your slab rate. Any other fund: your slab rate within 2 years, 12.5% after.
IDCW (dividend) payouts are added to your income and taxed at your slab rate.
A stamp duty of 0.005% is deducted when you invest.

Rules in force from 23-07-2024 (Finance Act 2024). Tax depends on your own income; this is general information, not tax advice.

All plans and options

Plan	Option	NAV	As on
direct	Growth	₹81.632	30-10-2026
direct	IDCW	₹20.801	30-10-2026
regular	Growth	₹72.184	30-10-2026
regular	IDCW	₹16.428	30-10-2026

About HDFC Multi Asset Allocation Fund

HDFC Multi Asset Allocation Fund is a mutual fund from HDFC Mutual Fund. Its category is Multi Asset. It was launched on 17-08-2005. Its benchmark is 65% Nifty 50 TRI + 22.5% Nifty Composite Debt Index + 10% Domestic Price of Gold + 2.5% Domestic Price of Silver. At the end of September 2026 it held 113 securities.

Fund Manager

Ihab Dalwai
Fund manager of HDFC Multi Asset Allocation Fund, since 11-09-2026
Anil Bamboli
Fund manager of HDFC Multi Asset Allocation Fund, since 17-08-2005
Bhagyesh Kagalkar
Fund manager of HDFC Multi Asset Allocation Fund, since 02-02-2022
Nandita Menezes
Fund manager of HDFC Multi Asset Allocation Fund, since 29-03-2025
– Mr. Arun Agarwal
Fund manager of HDFC Multi Asset Allocation Fund, since 24-08-2020
Gopal Agrawal
Fund manager of HDFC Multi Asset Allocation Fund, since 01-09-2026

See all funds of HDFC Mutual Fund

AUM change

September 2026: ₹5,781.82 Cr; −4.14% from August 2026
August 2026: ₹6,031.26 Cr; +0.86% from July 2026
July 2026: ₹5,979.92 Cr; +1.67% from June 2026

AUM moves with money invested or taken out, and with the value of what the fund holds.

Compare HDFC Multi Asset Allocation Fund with Other Funds

Returns, risk, costs and the stocks they share, side by side

HDFC Multi Asset Allocation vs Quant Multi Asset AllocationMulti Asset
HDFC Multi Asset Allocation vs Nippon India Multi Asset AllocationMulti Asset
HDFC Multi Asset Allocation vs DSP Multi Asset AllocationMulti Asset
HDFC Multi Asset Allocation vs Kotak Multi Asset AllocationMulti Asset
HDFC Multi Asset Allocation vs WhiteOak Capital Multi Asset AllocationMulti Asset
HDFC Multi Asset Allocation vs HDFC Equity Savings56.8% overlap
HDFC Multi Asset Allocation vs HDFC Retirement Fund - Equity Plan52.0% overlap
HDFC Multi Asset Allocation vs SBI BSE 100 ETF50.2% overlap

Compare with any other fund

Frequently Asked Questions for HDFC Multi Asset Allocation Fund

What is the current NAV of HDFC Multi Asset Allocation Fund?

The Direct plan NAV is ₹81.632. The Regular plan NAV is ₹72.184, as on 30-10-2026.

What are the returns of HDFC Multi Asset Allocation Fund?

The Direct plan returned −2.29% in 1 year, +11.12% a year over 3 years, +10.21% a year over 5 years. The Regular plan returned −3.29% in 1 year, +9.90% a year over 3 years, +8.91% a year over 5 years. These figures are as on 30-10-2026.

What is the expense ratio of HDFC Multi Asset Allocation Fund?

The Direct plan charges 1.01% a year. The Regular plan charges 2.02% a year. This is the figure the fund house reported to AMFI, in force from 01-10-2026.

What is the AUM of HDFC Multi Asset Allocation Fund?

HDFC Multi Asset Allocation Fund managed ₹5,781.82 Cr on 30-09-2026, as its fund house reported in its monthly portfolio.

What are the top holdings of HDFC Multi Asset Allocation Fund?

At the end of September 2026 the largest holdings were HDFCGOLD (11.71%), HDFCBANK (6.86%), RELIANCE (4.86%), ICICIBANK (4.74%), BHARTIARTL (2.89%). The fund held 113 securities in all.

What did HDFC Multi Asset Allocation Fund buy and sell in September 2026?

It bought 2 new stocks: Motherson Sumi Wiring India Limited, PI Industries Ltd. It sold out of 4: Gland Pharma Ltd, Kwality Wall’s (India) Limited, City Union Bank Ltd, Ipca Laboratories Ltd. It added shares in 10. It reduced 6.

How do I invest in HDFC Multi Asset Allocation Fund?

Through HDFC Mutual Fund's website or app, a mutual fund distributor, or an investment platform. Choose the Direct plan to pay no distributor commission, or the Regular plan to invest through a distributor. The first investment is at least ₹100. You can invest once or through a monthly SIP.

Who is the fund manager of HDFC Multi Asset Allocation Fund?

Ihab Dalwai (since 11-09-2026), Anil Bamboli (since 17-08-2005), Bhagyesh Kagalkar (since 02-02-2022), Nandita Menezes (since 29-03-2025), – Mr. Arun Agarwal (since 24-08-2020), Gopal Agrawal (since 01-09-2026).

Sources: NAV and expense ratio from AMFI. Holdings from the fund house's monthly portfolio statement. Fund facts from its scheme summary document, as on 16-10-2026.

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.