HDFC Multi Asset Allocation Fund vs SBI MULTI ASSET ALLOCATION FUND
HDFC Multi Asset Allocation Fund and SBI MULTI ASSET ALLOCATION FUND are both Multi Asset Allocation funds. As of 6 Nov 2026 (Direct plan, Growth option): 3-year CAGR +12.73% vs +14.58%, 5-year CAGR +11.31% vs +12.97%, volatility 8.34% vs 8.38%, maximum drawdown −27.08% vs −17.59%. Their portfolios overlap by 14.3% (22 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
| HDFC Multi Asset Allocation | SBI MULTI ASSET ALLOCATION | |
|---|---|---|
| Fund house | HDFC Mutual Fund | SBI Mutual Fund |
| Compared as | Multi Asset Allocation | Multi Asset Allocation |
| NAV | ₹86.1260 | ₹73.6464 |
| NAV date | 6 Nov 2026 | 5 Nov 2026 |
| Launched (first NAV) | 1 Jan 2013 | 19 Mar 2013 |
| Track record | 13.8 yrs | 13.6 yrs |
| Fund size (AUM) | ₹5,782 Cr | ₹21,044 Cr |
| Securities held | 113 | 130 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| HDFC Multi Asset Allocation | SBI MULTI ASSET ALLOCATION | |
|---|---|---|
| 1 month | +4.93% | +0.44% |
| 3 months | +0.44% | −2.06% |
| 6 months | +2.76% | −1.14% |
| 1 year | +3.76% | +5.26% |
| 3 years (CAGR) | +12.73% | +14.58% |
| 5 years (CAGR) | +11.31% | +12.97% |
| 7 years (CAGR) | +14.07% | +13.49% |
| 10 years (CAGR) | +11.67% | +11.90% |
| Since launch (CAGR) | +11.47% | +12.10% |
| SIP return (XIRR, 5 years) ⓘ | +11.27% | +13.16% |
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
| HDFC Multi Asset Allocation | SBI MULTI ASSET ALLOCATION | |
|---|---|---|
| 2026 (year to date) | +1.56% | +0.97% |
| 2025 | +14.45% | +19.58% |
| 2024 | +14.82% | +13.87% |
| 2023 | +19.43% | +25.48% |
| 2022 | +5.77% | +6.96% |
| 2021 | +19.65% | +13.96% |
Risk
| HDFC Multi Asset Allocation | SBI MULTI ASSET ALLOCATION | |
|---|---|---|
| Volatility (annualised) ⓘ | 8.34% | 8.38% |
| Downside volatility ⓘ | 5.84% | 5.62% |
| Sharpe ratio ⓘ | 0.75 | 0.97 |
| Sortino ratio ⓘ | 1.07 | 1.44 |
| Maximum drawdown ⓘ | −27.08% | −17.59% |
| Recovery from that fall | 4 months | 3 months |
| Current fall from peak | −1.02% | −2.85% |
| Rolling 1-year return: worst | −19.92% | −7.95% |
| Rolling 1-year return: median | +11.04% | +11.77% |
| Rolling 1-year return: best | +64.26% | +37.05% |
| Share of 1-year periods with a loss | 7.20% | 0.39% |
Against each fund's benchmark
| HDFC Multi Asset Allocation | SBI MULTI ASSET ALLOCATION | |
|---|---|---|
| Beta ⓘ | 0.52 | 0.52 |
| Alpha (Jensen's, annualised) ⓘ | +3.01% | +5.55% |
| R² ⓘ | 89.13 | 76.44 |
| Upside capture | 65.78% | 71.51% |
| Downside capture | 33.17% | 25.34% |
| Tracking error | 7.64% | 8.33% |
| Information ratio | 0.35 | 0.65 |
| Treynor ratio | 8.93 | 14.32 |
Portfolio
Asset mix
| HDFC Multi Asset Allocation | SBI MULTI ASSET ALLOCATION | |
|---|---|---|
| Equity | 69.09% | 44.92% |
| Gold | 11.71% | 6.42% |
| Debt | 11.21% | 32.16% |
| Cash & equivalents | 4.06% | 7.55% |
| REITs / InvITs | 2.12% | 5.38% |
| Silver | 1.81% | 3.57% |
Market-cap split (share of fund assets)
| HDFC Multi Asset Allocation | SBI MULTI ASSET ALLOCATION | |
|---|---|---|
| Large Cap | 55.99% | 19.38% |
| Mid Cap | 5.25% | 9.04% |
| Small Cap | 7.85% | 15.41% |
| Unclassified | 0.00% | 1.09% |
Concentration
| HDFC Multi Asset Allocation | SBI MULTI ASSET ALLOCATION | |
|---|---|---|
| Top 10 holdings | 41.82% | 25.13% |
| Effective number of stocks ⓘ | 32.6 | 72.2 |
| Securities held | 113 | 130 |
Portfolio overlap: 14.3%
22 companies are held by both funds; by weight, 14.3% of the two portfolios is the same. That is a low overlap: the two portfolios are largely different.
| Held by both | HDFC Multi Asset Allocation | SBI MULTI ASSET ALLOCATION |
|---|---|---|
| HDFC Bank Limited | 6.86% | 1.77% |
| ICICI Bank Limited | 4.74% | 1.46% |
| Kotak Mahindra Bank Limited | 2.60% | 1.33% |
| Axis Bank Limited | 2.54% | 1.05% |
| Oil & Natural Gas Corporation Limited | 0.98% | 1.23% |
| Reliance Industries Limited | 4.86% | 0.97% |
| Bajaj Finserv Limited | 1.07% | 0.92% |
| Muthoot Finance Ltd. | 0.86% | 1.19% |
| Embassy Office Parks REIT | 0.68% | 1.97% |
| Indus Towers Limited | 0.65% | 1.45% |
| Brookfield India Real Estate Trust | 0.58% | 2.42% |
| Mahindra & Mahindra Financial Services Limited | 0.86% | 0.48% |
| ITC Limited | 0.68% | 0.47% |
| HCL Technologies Ltd. | 0.85% | 0.46% |
| State Bank of India | 1.24% | 0.43% |
Top 10 holdings
HDFC Multi Asset Allocation
- HDFC Gold Exchange Traded Fund11.71%
- HDFC Bank Limited6.86%
- Reliance Industries Limited4.86%
- ICICI Bank Limited4.74%
- Bharti Airtel Limited2.89%
- Kotak Mahindra Bank Limited2.60%
- Axis Bank Limited2.54%
- Maruti Suzuki India Limited1.94%
- NTPC Limited1.87%
- HDFC Silver ETF1.81%
SBI MULTI ASSET ALLOCATION
- SBI Gold ETF6.42%
- SBI Silver ETF3.57%
- Brookfield India Real Estate Trust2.42%
- Cholamandalam Investment & Finance Co. Ltd.Perpetual2.21%
- Embassy Office Parks REIT1.97%
- GAIL (India) Ltd.1.89%
- HDFC Bank Limited1.77%
- Bandhan Bank Limited1.74%
- Delhivery Limited1.68%
- ICICI Bank Limited1.46%
Sector exposure
| HDFC Multi Asset Allocation | SBI MULTI ASSET ALLOCATION | |
|---|---|---|
| Banks | 17.98% | 9.41% |
| Exchange Traded Funds | 11.71% | 0.00% |
| Mutual Fund/ETF | 0.00% | 9.99% |
| CRISIL AAA | 1.64% | 8.34% |
| CRISIL AA+ | 2.15% | 6.96% |
| Realty | 1.86% | 6.26% |
| CRISIL AA | 0.00% | 5.84% |
| Petroleum Products | 5.38% | 1.61% |
| Automobiles | 5.28% | 0.00% |
| Pharmaceuticals & Biotechnology | 4.62% | 3.26% |
| IT - Software | 4.13% | 0.85% |
| Telecom - Services | 3.54% | 1.58% |
| Insurance | 3.27% | 0.40% |
| Power | 3.17% | 1.97% |
Questions people ask
What is the difference between HDFC Multi Asset Allocation and SBI MULTI ASSET ALLOCATION returns?
As of 6 Nov 2026, Direct plan Growth option: 1-year return +3.76% vs +5.26%; 3-year CAGR +12.73% vs +14.58%; 5-year CAGR +11.31% vs +12.97%; 10-year CAGR +11.67% vs +11.90%. Past returns do not indicate future returns.
How do HDFC Multi Asset Allocation and SBI MULTI ASSET ALLOCATION compare on risk?
Volatility (36 monthly returns, annualised) 8.34% vs 8.38%; Sharpe ratio 0.75 vs 0.97; Sortino ratio 1.07 vs 1.44; maximum drawdown −27.08% vs −17.59%; beta 0.52 vs 0.52.
How much do HDFC Multi Asset Allocation and SBI MULTI ASSET ALLOCATION overlap?
By weight, 14.3% of the two portfolios is invested in the same companies; 22 stocks are held by both, the largest shared positions being HDFC Bank Limited, ICICI Bank Limited, Kotak Mahindra Bank Limited. Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of HDFC Multi Asset Allocation and SBI MULTI ASSET ALLOCATION?
HDFC Multi Asset Allocation: large cap 56.0%, mid cap 5.3%, small cap 7.9%. SBI MULTI ASSET ALLOCATION: large cap 19.4%, mid cap 9.0%, small cap 15.4% (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 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.