SBI MULTI ASSET ALLOCATION FUND vs Union Multi Asset Allocation Fund
SBI MULTI ASSET ALLOCATION FUND and Union Multi Asset Allocation Fund are both Multi Asset Allocation funds. As of 5 Nov 2026 (Direct plan, Growth option): 3-year CAGR +14.21% vs —, 5-year CAGR +12.75% vs —, volatility 8.34% vs 11.67%, maximum drawdown −17.59% vs −12.42%. Their portfolios overlap by 10.7% (18 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
| SBI MULTI ASSET ALLOCATION | Union Multi Asset Allocation | |
|---|---|---|
| Fund house | SBI Mutual Fund | Union Mutual Fund |
| Compared as | Multi Asset Allocation | Multi Asset Allocation |
| NAV | ₹72.9096 | ₹12.4000 |
| NAV date | 4 Nov 2026 | 5 Nov 2026 |
| Launched (first NAV) | 19 Mar 2013 | 13 Sep 2024 |
| Track record | 13.6 yrs | 2.1 yrs |
| Fund size (AUM) | ₹21,044 Cr | ₹971 Cr |
| Securities held | 130 | 86 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| SBI MULTI ASSET ALLOCATION | Union Multi Asset Allocation | |
|---|---|---|
| 1 month | −0.13% | +1.56% |
| 3 months | −2.80% | −1.59% |
| 6 months | −1.69% | +0.32% |
| 1 year | +4.21% | +7.17% |
| 3 years (CAGR) | +14.21% | — |
| 5 years (CAGR) | +12.75% | — |
| 7 years (CAGR) | +13.25% | — |
| 10 years (CAGR) | +11.76% | — |
| Since launch (CAGR) | +12.02% | +10.20% |
| SIP return (XIRR, 5 years) ⓘ | +12.77% | — |
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
| SBI MULTI ASSET ALLOCATION | Union Multi Asset Allocation | |
|---|---|---|
| 2026 (year to date) | −0.04% | +2.56% |
| 2025 | +19.58% | +20.42% |
| 2024 | +13.87% | — |
| 2023 | +25.48% | — |
| 2022 | +6.96% | — |
| 2021 | +13.96% | — |
Risk
| SBI MULTI ASSET ALLOCATION | Union Multi Asset Allocation | |
|---|---|---|
| Volatility (annualised) ⓘ | 8.34% | 11.67% |
| Downside volatility ⓘ | 5.62% | 8.44% |
| Sharpe ratio ⓘ | 0.93 | 0.32 |
| Sortino ratio ⓘ | 1.38 | 0.44 |
| Maximum drawdown ⓘ | −17.59% | −12.42% |
| Recovery from that fall | 3 months | — |
| Current fall from peak | −3.83% | −3.73% |
| Rolling 1-year return: worst | −7.95% | +0.69% |
| Rolling 1-year return: median | +11.77% | +16.19% |
| Rolling 1-year return: best | +37.05% | +33.19% |
| Share of 1-year periods with a loss | 0.39% | 0.00% |
Against each fund's benchmark
| SBI MULTI ASSET ALLOCATION | Union Multi Asset Allocation | |
|---|---|---|
| Beta ⓘ | 0.52 | 0.68 |
| Alpha (Jensen's, annualised) ⓘ | +5.55% | +9.00% |
| R² ⓘ | 76.44 | 78.41 |
| Upside capture | 71.51% | 88.58% |
| Downside capture | 25.34% | 32.53% |
| Tracking error | 8.33% | 7.35% |
| Information ratio | 0.65 | 1.78 |
| Treynor ratio | 14.32 | 2.04 |
Portfolio
Asset mix
| SBI MULTI ASSET ALLOCATION | Union Multi Asset Allocation | |
|---|---|---|
| Equity | 44.92% | 67.05% |
| Debt | 32.16% | 11.37% |
| Cash & equivalents | 7.55% | 4.18% |
| Gold | 6.42% | 11.71% |
| REITs / InvITs | 5.38% | 0.00% |
| Silver | 3.57% | 3.95% |
Market-cap split (share of fund assets)
| SBI MULTI ASSET ALLOCATION | Union Multi Asset Allocation | |
|---|---|---|
| Large Cap | 19.38% | 40.10% |
| Mid Cap | 9.04% | 8.40% |
| Small Cap | 15.41% | 16.23% |
| Unclassified | 1.09% | 2.32% |
Concentration
| SBI MULTI ASSET ALLOCATION | Union Multi Asset Allocation | |
|---|---|---|
| Top 10 holdings | 25.13% | 39.31% |
| Effective number of stocks ⓘ | 72.2 | 35.6 |
| Securities held | 130 | 86 |
Portfolio overlap: 10.7%
18 companies are held by both funds; by weight, 10.7% of the two portfolios is the same. That is a low overlap: the two portfolios are largely different.
| Held by both | SBI MULTI ASSET ALLOCATION | Union Multi Asset Allocation |
|---|---|---|
| HDFC Bank Limited | 1.77% | 4.19% |
| ICICI Bank Limited | 1.46% | 4.49% |
| Kotak Mahindra Bank Limited | 1.33% | 1.50% |
| Axis Bank Limited | 1.05% | 2.46% |
| Reliance Industries Limited | 0.97% | 2.44% |
| FSN E-Commerce Ventures Limited | 0.97% | 0.56% |
| Oil India Limited | 0.53% | 0.59% |
| Delhivery Limited | 1.68% | 0.52% |
| Gokaldas Exports Ltd. | 0.71% | 0.48% |
| State Bank of India | 0.43% | 2.34% |
| ZF Commercial Vehicle Control Systems India Limited | 0.42% | 0.88% |
| Oil & Natural Gas Corporation Limited | 1.23% | 0.41% |
| HCL Technologies Ltd. | 0.46% | 0.28% |
| Varun Beverages Limited | 0.78% | 0.18% |
| Infosys Limited | 0.16% | 1.29% |
Top 10 holdings
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%
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
| SBI MULTI ASSET ALLOCATION | Union Multi Asset Allocation | |
|---|---|---|
| Capital Markets | 1.19% | 17.88% |
| Banks | 9.41% | 17.03% |
| Mutual Fund/ETF | 9.99% | 0.00% |
| CRISIL AAA | 8.34% | 8.35% |
| CRISIL AA+ | 6.96% | 0.00% |
| Realty | 6.26% | 1.09% |
| CRISIL AA | 5.84% | 0.00% |
| Construction | 0.62% | 3.44% |
| Pharmaceuticals & Biotechnology | 3.26% | 3.14% |
| Auto Components | 2.71% | 3.02% |
| Telecom - Services | 1.58% | 2.67% |
| IT - Software | 0.85% | 2.59% |
| CRISIL A1+ | 0.46% | 2.45% |
| Petroleum Products | 1.61% | 2.44% |
Questions people ask
What is the difference between SBI MULTI ASSET ALLOCATION and Union Multi Asset Allocation returns?
As of 5 Nov 2026, Direct plan Growth option: 1-year return +4.21% vs +7.17%; 3-year CAGR +14.21% vs —; 5-year CAGR +12.75% vs —; 10-year CAGR +11.76% vs —. Past returns do not indicate future returns.
How do SBI MULTI ASSET ALLOCATION and Union Multi Asset Allocation compare on risk?
Volatility (36 monthly returns, annualised) 8.34% vs 11.67%; Sharpe ratio 0.93 vs 0.32; Sortino ratio 1.38 vs 0.44; maximum drawdown −17.59% vs −12.42%; beta 0.52 vs 0.68.
How much do SBI MULTI ASSET ALLOCATION and Union Multi Asset Allocation overlap?
By weight, 10.7% of the two portfolios is invested in the same companies; 18 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 SBI MULTI ASSET ALLOCATION and Union Multi Asset Allocation?
SBI MULTI ASSET ALLOCATION: large cap 19.4%, mid cap 9.0%, small cap 15.4%. 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 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.