JM Multi Asset Allocation Fund vs Union Multi Asset Allocation Fund
JM Multi Asset Allocation Fund and Union Multi Asset Allocation Fund are both Multi Asset Allocation funds. As of 4 Nov 2026 (Direct plan, Growth option): 3-year CAGR — vs —, 5-year CAGR — vs —, volatility — vs 11.51%, maximum drawdown −8.84% vs −12.42%. Their portfolios overlap by 11.3% (13 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
| JM Multi Asset Allocation | Union Multi Asset Allocation | |
|---|---|---|
| Fund house | JM Financial Mutual Fund | Union Mutual Fund |
| Compared as | Multi Asset Allocation | Multi Asset Allocation |
| NAV | ₹10.0342 | ₹12.2300 |
| NAV date | 4 Nov 2026 | 4 Nov 2026 |
| Launched (first NAV) | 20 Jul 2026 | 13 Sep 2024 |
| Track record | 0.3 yrs | 2.1 yrs |
| Fund size (AUM) | ₹167 Cr | ₹971 Cr |
| Securities held | 53 | 86 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| JM Multi Asset Allocation | Union Multi Asset Allocation | |
|---|---|---|
| 1 month | −0.05% | +0.91% |
| 3 months | −2.21% | −2.70% |
| 6 months | — | −0.57% |
| 1 year | — | +5.70% |
| 3 years (CAGR) | — | — |
| 5 years (CAGR) | — | — |
| 7 years (CAGR) | — | — |
| 10 years (CAGR) | — | — |
| Since launch (CAGR) | — | +9.50% |
| 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
| JM Multi Asset Allocation | Union Multi Asset Allocation | |
|---|---|---|
| 2026 (year to date) | — | +1.16% |
| 2025 | — | +20.42% |
Risk
| JM Multi Asset Allocation | Union Multi Asset Allocation | |
|---|---|---|
| Volatility (annualised) ⓘ | — | 11.51% |
| Downside volatility ⓘ | — | 8.44% |
| Sharpe ratio ⓘ | — | 0.26 |
| Sortino ratio ⓘ | — | 0.36 |
| Maximum drawdown ⓘ | −8.84% | −12.42% |
| Recovery from that fall | — | — |
| Current fall from peak | −4.62% | −5.05% |
| Rolling 1-year return: worst | — | +0.69% |
| Rolling 1-year return: median | — | +16.24% |
| Rolling 1-year return: best | — | +33.19% |
| Share of 1-year periods with a loss | — | 0.00% |
Against each fund's benchmark
| JM Multi Asset Allocation | Union Multi Asset Allocation | |
|---|---|---|
| Beta ⓘ | — | 0.68 |
| Alpha (Jensen's, annualised) ⓘ | — | +9.00% |
| R² ⓘ | — | 78.41 |
| Upside capture | — | 88.58% |
| Downside capture | — | 32.53% |
| Tracking error | — | 7.35% |
| Information ratio | — | 1.78 |
| Treynor ratio | — | 2.04 |
Portfolio
Asset mix
| JM Multi Asset Allocation | Union Multi Asset Allocation | |
|---|---|---|
| Equity | 50.22% | 67.05% |
| Debt | 28.94% | 11.37% |
| Cash & equivalents | 20.09% | 4.18% |
| REITs / InvITs | 0.73% | 0.00% |
| Gold | 0.00% | 11.71% |
| Silver | 0.00% | 3.95% |
Market-cap split (share of fund assets)
| JM Multi Asset Allocation | Union Multi Asset Allocation | |
|---|---|---|
| Large Cap | 16.99% | 40.10% |
| Mid Cap | 10.50% | 8.40% |
| Small Cap | 16.94% | 16.23% |
| Unclassified | 5.79% | 2.32% |
Concentration
| JM Multi Asset Allocation | Union Multi Asset Allocation | |
|---|---|---|
| Top 10 holdings | 34.83% | 39.31% |
| Effective number of stocks ⓘ | 43.6 | 35.6 |
| Securities held | 53 | 86 |
Portfolio overlap: 11.3%
13 companies are held by both funds; by weight, 11.3% of the two portfolios is the same. That is a low overlap: the two portfolios are largely different.
| Held by both | JM Multi Asset Allocation | Union Multi Asset Allocation |
|---|---|---|
| HDFC Bank Limited | 1.91% | 4.19% |
| Bajaj Finance Limited | 1.84% | 1.68% |
| Larsen & Toubro Limited | 1.89% | 1.54% |
| Eternal Limited | 1.63% | 1.16% |
| JSW Energy Limited | 1.02% | 0.61% |
| Shriram Finance Limited | 1.42% | 0.60% |
| Billionbrains Garage Ventures Ltd | 1.14% | 0.60% |
| One 97 Communications Limited | 2.07% | 0.59% |
| Amber Enterprises India Limited | 1.67% | 0.56% |
| Manipal Health Enterprises Ltd | 1.80% | 0.52% |
| Ujjivan Small Finance Bank Limited | 2.36% | 0.51% |
| Nippon Life India Asset Management Limited | 1.02% | 0.51% |
| Titan Company Limited | 1.47% | 0.49% |
Top 10 holdings
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%
Union Multi Asset Allocation
- Union Gold ETF11.71%
- ICICI Bank Limited4.49%
- HDFC Bank Limited4.19%
- ICICI Prudential Silver ETF3.95%
- Bharti Airtel Limited2.67%
- 7.1% National Bank For Agriculture and Rural Development (29/03/2029)2.49%
- REC Ltd.2.46%
- Axis Bank Limited2.46%
- Canara Bank2.45%
- Reliance Industries Limited2.44%
Sector exposure
| JM Multi Asset Allocation | Union Multi Asset Allocation | |
|---|---|---|
| Capital Markets | 3.21% | 17.88% |
| Banks | 6.12% | 17.03% |
| CRISIL AAA | 2.99% | 8.35% |
| Sovereign | 7.65% | 0.28% |
| CAPITAL MARKETS | 6.84% | 0.00% |
| SOVEREIGN | 5.88% | 0.00% |
| Mutual Funds | 5.42% | 0.00% |
| Electrical Equipment | 3.83% | 1.87% |
| Auto Components | 3.67% | 3.02% |
| Construction | 1.89% | 3.44% |
| Finance | 3.26% | 2.28% |
| Unclassified | 3.23% | 0.00% |
| Pharmaceuticals & Biotechnology | 1.33% | 3.14% |
| Consumer Durables | 3.13% | 2.42% |
Questions people ask
What is the difference between JM Multi Asset Allocation and Union Multi Asset Allocation returns?
As of 4 Nov 2026, Direct plan Growth option: 1-year return — vs +5.70%; 3-year CAGR — vs —; 5-year CAGR — vs —; 10-year CAGR — vs —. Past returns do not indicate future returns.
How do JM Multi Asset Allocation and Union Multi Asset Allocation compare on risk?
Volatility (36 monthly returns, annualised) — vs 11.51%; Sharpe ratio — vs 0.26; Sortino ratio — vs 0.36; maximum drawdown −8.84% vs −12.42%; beta — vs 0.68.
How much do JM Multi Asset Allocation and Union Multi Asset Allocation overlap?
By weight, 11.3% of the two portfolios is invested in the same companies; 13 stocks are held by both, the largest shared positions being HDFC Bank Limited, Bajaj Finance Limited, Larsen & Toubro Limited. Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of JM Multi Asset Allocation and Union Multi Asset Allocation?
JM Multi Asset Allocation: large cap 17.0%, mid cap 10.5%, small cap 16.9%. Union Multi Asset Allocation: large cap 40.1%, mid cap 8.4%, small cap 16.2% (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 4 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.