Axis Multicap Fund vs Nippon India Multi Cap Fund
Axis Multicap Fund and Nippon India Multi Cap Fund are both Multi Cap funds. As of 6 Nov 2026 (Direct plan, Growth option): 3-year CAGR +19.49% vs +13.39%, 5-year CAGR — vs +15.58%, volatility 15.83% vs 15.78%, maximum drawdown −18.08% vs −42.75%. Their portfolios overlap by 30.5% (34 stocks held by both).
Showing the Direct plan, Growth option. Portfolio, sector and market-cap figures are the same for every plan and option of a fund.
Key facts
| Axis Multicap | Nippon India Multi Cap | |
|---|---|---|
| Fund house | Axis Mutual Fund | Nippon India Mutual Fund |
| Compared as | Multi Cap | Multi Cap |
| NAV | ₹21.0700 | ₹329.5370 |
| NAV date | 6 Nov 2026 | 6 Nov 2026 |
| Launched (first NAV) | 23 Dec 2021 | 2 Jan 2013 |
| Track record | 4.9 yrs | 13.8 yrs |
| Fund size (AUM) | ₹11,972 Cr | ₹53,767 Cr |
| Securities held | 108 | 120 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| Axis Multicap | Nippon India Multi Cap | |
|---|---|---|
| 1 month | +3.08% | +3.22% |
| 3 months | +1.49% | −3.14% |
| 6 months | +9.91% | −1.33% |
| 1 year | +10.43% | −0.57% |
| 3 years (CAGR) | +19.49% | +13.39% |
| 5 years (CAGR) | — | +15.58% |
| 7 years (CAGR) | — | +18.35% |
| 10 years (CAGR) | — | +15.92% |
| Since launch (CAGR) | +16.51% | +15.47% |
| SIP return (XIRR, 5 years) ⓘ | — | +13.53% |
Up to one year: absolute return. Beyond one year: CAGR. Computed from each fund's own NAV history (AMFI), measured to the latest NAV.
Calendar-year returns
| Axis Multicap | Nippon India Multi Cap | |
|---|---|---|
| 2026 (year to date) | +10.60% | −0.46% |
| 2025 | +2.42% | +4.88% |
| 2024 | +33.81% | +26.85% |
| 2023 | +38.31% | +39.15% |
| 2022 | −0.20% | +14.97% |
| 2021 | — | +49.87% |
Risk
| Axis Multicap | Nippon India Multi Cap | |
|---|---|---|
| Volatility (annualised) ⓘ | 15.83% | 15.78% |
| Downside volatility ⓘ | 10.67% | 10.51% |
| Sharpe ratio ⓘ | 0.82 | 0.44 |
| Sortino ratio ⓘ | 1.22 | 0.66 |
| Maximum drawdown ⓘ | −18.08% | −42.75% |
| Recovery from that fall | 8 months | 10 months |
| Current fall from peak | −1.22% | −3.42% |
| Rolling 1-year return: worst | −4.22% | −38.93% |
| Rolling 1-year return: median | +14.33% | +13.25% |
| Rolling 1-year return: best | +59.62% | +93.65% |
| Share of 1-year periods with a loss | 6.56% | 18.51% |
Against each fund's benchmark
| Axis Multicap | Nippon India Multi Cap | |
|---|---|---|
| Beta ⓘ | 0.94 | 0.91 |
| Alpha (Jensen's, annualised) ⓘ | +6.66% | +0.60% |
| R² ⓘ | 92.42 | 92.81 |
| Upside capture | 115.72% | 94.53% |
| Downside capture | 88.51% | 89.95% |
| Tracking error | 4.61% | 4.50% |
| Information ratio | 1.57 | 0.05 |
| Treynor ratio | 13.19 | 5.88 |
Portfolio
Asset mix
| Axis Multicap | Nippon India Multi Cap | |
|---|---|---|
| Equity | 95.40% | 99.31% |
| Cash & equivalents | 4.58% | 0.69% |
Market-cap split (share of fund assets)
| Axis Multicap | Nippon India Multi Cap | |
|---|---|---|
| Large Cap | 39.14% | 43.50% |
| Mid Cap | 23.80% | 29.51% |
| Small Cap | 28.52% | 26.30% |
| Unclassified | 3.94% | 0.00% |
Concentration
| Axis Multicap | Nippon India Multi Cap | |
|---|---|---|
| Top 10 holdings | 22.87% | 28.44% |
| Effective number of stocks ⓘ | 81.6 | 58 |
| Securities held | 108 | 120 |
Portfolio overlap: 30.5%
34 companies are held by both funds; by weight, 30.5% of the two portfolios is the same. That is a moderate overlap.
| Held by both | Axis Multicap | Nippon India Multi Cap |
|---|---|---|
| ICICI Bank Limited | 3.25% | 2.97% |
| HDFC Bank Limited | 2.72% | 7.06% |
| Axis Bank Limited | 1.45% | 5.07% |
| GE Vernova T&D India Limited | 1.43% | 1.58% |
| Larsen & Toubro Limited | 1.36% | 1.74% |
| Mahindra & Mahindra Limited | 1.37% | 1.35% |
| Multi Commodity Exchange of India Limited | 1.97% | 1.27% |
| Bajaj Finance Limited | 1.25% | 1.63% |
| State Bank of India | 1.20% | 1.23% |
| Sai Life Sciences Limited | 1.31% | 1.13% |
| Divi's Laboratories Limited | 1.12% | 1.15% |
| Reliance Industries Limited | 1.11% | 1.34% |
| Samvardhana Motherson International Limited | 1.00% | 1.70% |
| Eternal Limited | 2.41% | 0.96% |
| FSN E-Commerce Ventures Limited | 0.87% | 1.19% |
Top 10 holdings
Axis Multicap
- ICICI Bank Limited3.25%
- HDFC Bank Limited2.72%
- Sona BLW Precision Forgings Limited2.53%
- Eternal Limited2.41%
- Welspun Corp Limited2.35%
- Apar Industries Limited2.03%
- Multi Commodity Exchange of India Limited1.97%
- TD Power Systems Limited1.92%
- Shriram Finance Limited1.91%
- Ather Energy Limited1.78%
Nippon India Multi Cap
- HDFC Bank Limited7.06%
- Axis Bank Limited5.07%
- Infosys Limited3.06%
- ICICI Bank Limited2.97%
- Linde India Limited1.79%
- NTPC Limited1.79%
- Larsen & Toubro Limited1.74%
- Samvardhana Motherson International Limited1.70%
- Swiggy Limited1.63%
- Avenue Supermarts Ltd.1.63%
Sector exposure
| Axis Multicap | Nippon India Multi Cap | |
|---|---|---|
| Banks | 15.16% | 17.60% |
| Auto Components | 10.03% | 3.19% |
| Retailing | 5.33% | 9.94% |
| Electrical Equipment | 9.79% | 4.99% |
| Pharmaceuticals & Biotechnology | 7.82% | 7.94% |
| Consumer Durables | 3.11% | 6.91% |
| Leisure Services | 0.24% | 5.75% |
| Automobiles | 5.01% | 1.82% |
| IT - Software | 3.25% | 4.96% |
| Finance | 4.90% | 2.98% |
| Power | 0.80% | 4.29% |
| Healthcare Services | 4.26% | 1.65% |
| Insurance | 0.00% | 4.19% |
| Industrial Products | 3.84% | 1.87% |
Questions people ask
What is the difference between Axis Multicap and Nippon India Multi Cap returns?
As of 6 Nov 2026, Direct plan Growth option: 1-year return +10.43% vs −0.57%; 3-year CAGR +19.49% vs +13.39%; 5-year CAGR — vs +15.58%; 10-year CAGR — vs +15.92%. Past returns do not indicate future returns.
How do Axis Multicap and Nippon India Multi Cap compare on risk?
Volatility (36 monthly returns, annualised) 15.83% vs 15.78%; Sharpe ratio 0.82 vs 0.44; Sortino ratio 1.22 vs 0.66; maximum drawdown −18.08% vs −42.75%; beta 0.94 vs 0.91.
How much do Axis Multicap and Nippon India Multi Cap overlap?
By weight, 30.5% of the two portfolios is invested in the same companies; 34 stocks are held by both, the largest shared positions being ICICI Bank Limited, HDFC Bank Limited, Axis Bank Limited. Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of Axis Multicap and Nippon India Multi Cap?
Axis Multicap: large cap 39.1%, mid cap 23.8%, small cap 28.5%. Nippon India Multi Cap: large cap 43.5%, mid cap 29.5%, small cap 26.3% (share of the fund's assets, from its latest disclosed portfolio).
Is this a recommendation to choose one of these funds?
No. This page places the published figures of both funds side by side. It does not rank, rate or recommend either fund; which one suits an investor depends on their goals, horizon and risk tolerance.
More comparisons
Axis Multicap vs
Nippon India Multi Cap vs
All Multi Cap comparisons → · Compare up to six funds yourself → · Every fund in this category → · All comparisons →
Sources: NAV from AMFI; returns, risk and ratios computed by MF Analyser from each fund's NAV history (risk on 36 monthly returns, risk-free rate 6.5%); benchmark ratios against each fund's benchmark total-return index; portfolios from each fund house's monthly disclosure. Returns and ratios as of 6 Nov 2026. IDCW options show no return or risk figures because payouts reduce the NAV and AMFI's file carries no payout history to add back. This page compares published figures only — it does not rank, rate or recommend either fund. Past performance does not indicate future returns; mutual fund investments are subject to market risks.