DSP Multi Asset Allocation Fund vs JM Multi Asset Allocation Fund
DSP Multi Asset Allocation Fund and JM Multi Asset Allocation Fund are both Multi Asset Allocation funds. As of 5 Nov 2026 (Direct plan, Growth option): 3-year CAGR +17.68% vs —, 5-year CAGR — vs —, volatility 8.40% vs —, maximum drawdown −9.71% vs −8.84%. Their portfolios overlap by 12.1% (7 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
| DSP Multi Asset Allocation | JM Multi Asset Allocation | |
|---|---|---|
| Fund house | DSP Mutual Fund | JM Financial Mutual Fund |
| Compared as | Multi Asset Allocation | Multi Asset Allocation |
| NAV | ₹16.4073 | ₹10.1514 |
| NAV date | 4 Nov 2026 | 5 Nov 2026 |
| Launched (first NAV) | 29 Sep 2023 | 20 Jul 2026 |
| Track record | 3.1 yrs | 0.3 yrs |
| Fund size (AUM) | ₹10,820 Cr | ₹167 Cr |
| Securities held | 107 | 53 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| DSP Multi Asset Allocation | JM Multi Asset Allocation | |
|---|---|---|
| 1 month | +0.92% | +0.21% |
| 3 months | −3.15% | −1.68% |
| 6 months | −1.38% | — |
| 1 year | +7.30% | — |
| 3 years (CAGR) | +17.68% | — |
| 5 years (CAGR) | — | — |
| 7 years (CAGR) | — | — |
| 10 years (CAGR) | — | — |
| Since launch (CAGR) | +17.33% | — |
| SIP return (XIRR, 5 years) ⓘ | — | — |
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
| DSP Multi Asset Allocation | JM Multi Asset Allocation | |
|---|---|---|
| 2026 (year to date) | +2.53% | — |
| 2025 | +24.73% | — |
| 2024 | +18.12% | — |
Risk
| DSP Multi Asset Allocation | JM Multi Asset Allocation | |
|---|---|---|
| Volatility (annualised) ⓘ | 8.40% | — |
| Downside volatility ⓘ | 5.22% | — |
| Sharpe ratio ⓘ | 1.33 | — |
| Sortino ratio ⓘ | 2.15 | — |
| Maximum drawdown ⓘ | −9.71% | −8.84% |
| Recovery from that fall | 5 months | — |
| Current fall from peak | −4.14% | −3.51% |
| Rolling 1-year return: worst | +3.99% | — |
| Rolling 1-year return: median | +18.19% | — |
| Rolling 1-year return: best | +34.53% | — |
| Share of 1-year periods with a loss | 0.00% | — |
Against each fund's benchmark
| DSP Multi Asset Allocation | JM Multi Asset Allocation | |
|---|---|---|
| Beta ⓘ | 0.44 | — |
| Alpha (Jensen's, annualised) ⓘ | +8.64% | — |
| R² ⓘ | 55.76 | — |
| Upside capture | 72.51% | — |
| Downside capture | 7.68% | — |
| Tracking error | 10.15% | — |
| Information ratio | 0.86 | — |
| Treynor ratio | 24.51 | — |
Portfolio
Asset mix
| DSP Multi Asset Allocation | JM Multi Asset Allocation | |
|---|---|---|
| Equity | 38.34% | 50.22% |
| Debt | 13.65% | 28.94% |
| Cash & equivalents | 13.46% | 20.09% |
| Foreign Securities | 11.89% | 0.00% |
| Gold | 11.65% | 0.00% |
| ETF Units | 5.94% | 0.00% |
| REITs / InvITs | 5.08% | 0.73% |
Market-cap split (share of fund assets)
| DSP Multi Asset Allocation | JM Multi Asset Allocation | |
|---|---|---|
| Large Cap | 28.70% | 16.99% |
| Mid Cap | 4.36% | 10.50% |
| Small Cap | 4.78% | 16.94% |
| Unclassified | 0.50% | 5.79% |
Concentration
| DSP Multi Asset Allocation | JM Multi Asset Allocation | |
|---|---|---|
| Top 10 holdings | 37.65% | 34.83% |
| Effective number of stocks ⓘ | 38.9 | 43.6 |
| Securities held | 107 | 53 |
Portfolio overlap: 12.1%
7 companies are held by both funds; by weight, 12.1% of the two portfolios is the same. That is a low overlap: the two portfolios are largely different.
| Held by both | DSP Multi Asset Allocation | JM Multi Asset Allocation |
|---|---|---|
| DSP Gold ETF | 11.65% | 4.35% |
| 6.94% Government of India (11/05/2036) | 2.10% | 2.94% |
| HDFC Bank Limited | 3.54% | 1.91% |
| Larsen & Toubro Limited | 1.31% | 1.89% |
| Samvardhana Motherson International Limited | 1.01% | 1.41% |
| Embassy Office Parks REIT | 1.42% | 0.73% |
| Brookfield India Real Estate Trust | 0.70% | 0.89% |
Top 10 holdings
DSP Multi Asset Allocation
- DSP Gold ETF11.65%
- DSP Nifty 50 Equal Wieght ETF5.38%
- Government Securities4.08%
- HDFC Bank Limited3.54%
- Axis Bank Limited2.98%
- ICICI Bank Limited2.79%
- 6.94% Government of India (11/05/2036)2.10%
- Bharti Airtel Limited2.02%
- Nvidia Corporation1.62%
- Reliance Industries Limited1.49%
JM Multi Asset Allocation
- TATA GOLD EXCHANGE TRADED FUND6.84%
- DSP Gold ETF4.35%
- 8.75% Piramal Finance Limited (29/10/2027)2.99%
- Power Finance Corporation Ltd.2.99%
- Bank of Baroda (11/12/2026)2.96%
- Axis Bank Limited2.95%
- 182 Days Tbill (MD 14/01/2027)2.94%
- 6.94% Government of India (11/05/2036)2.94%
- 6.36% GOI 16-Feb-20312.93%
- 6.85% National Bank for Agriculture and Rural Development (19/01/2029)2.93%
Sector exposure
| DSP Multi Asset Allocation | JM Multi Asset Allocation | |
|---|---|---|
| Mutual Funds | 17.59% | 5.42% |
| Banks | 10.85% | 6.12% |
| Sovereign | 10.74% | 7.65% |
| CAPITAL MARKETS | 0.00% | 6.84% |
| SOVEREIGN | 0.00% | 5.88% |
| Realty | 4.91% | 2.67% |
| Electrical Equipment | 0.77% | 3.83% |
| Auto Components | 2.08% | 3.67% |
| Finance | 0.00% | 3.26% |
| Unclassified | 0.00% | 3.23% |
| Capital Markets | 1.97% | 3.21% |
| Consumer Durables | 2.50% | 3.13% |
| CRISIL AAA | 1.96% | 2.99% |
| ICRA AA+ | 0.00% | 2.99% |
Questions people ask
What is the difference between DSP Multi Asset Allocation and JM Multi Asset Allocation returns?
As of 5 Nov 2026, Direct plan Growth option: 1-year return +7.30% vs —; 3-year CAGR +17.68% vs —; 5-year CAGR — vs —; 10-year CAGR — vs —. Past returns do not indicate future returns.
How do DSP Multi Asset Allocation and JM Multi Asset Allocation compare on risk?
Volatility (36 monthly returns, annualised) 8.40% vs —; Sharpe ratio 1.33 vs —; Sortino ratio 2.15 vs —; maximum drawdown −9.71% vs −8.84%; beta 0.44 vs —.
How much do DSP Multi Asset Allocation and JM Multi Asset Allocation overlap?
By weight, 12.1% of the two portfolios is invested in the same companies; 7 stocks are held by both, the largest shared positions being DSP Gold ETF, 6.94% Government of India (11/05/2036), HDFC Bank Limited. Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of DSP Multi Asset Allocation and JM Multi Asset Allocation?
DSP Multi Asset Allocation: large cap 28.7%, mid cap 4.4%, small cap 4.8%. JM Multi Asset Allocation: large cap 17.0%, mid cap 10.5%, small cap 16.9% (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.
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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 5 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.