# Balanced Advantage / Dynamic Asset Allocation funds

Moves between shares and debt as market conditions change.

Full page: https://discovermf.com/categories/balanced-advantage-dynamic-asset-allocation
Figures as of 3 Nov 2026, from DiscoverMF. Information, not investment advice. Past returns do not indicate future returns. Mutual fund investments are subject to market risks; read all scheme-related documents carefully.

38 funds managing ₹3.21 lakh cr. Category averages: -1.5% over one year, +8.2% a year over three years; typical expense ratio 2.34%.

## All funds, by three-year return

| Fund | 1 year | 3 years (a year) | 5 years (a year) | Volatility | Expense ratio | Fund size |
| --- | --- | --- | --- | --- | --- | --- |
| [quant Dynamic Asset Allocation Fund](https://discovermf.com/funds/quant-dynamic-asset-allocation-fund-151714.md) | -5.6% | +11.3% | — | 13.4% | 2.85% | ₹787 cr |
| [Aditya Birla Sun Life Balanced Advantage Fund](https://discovermf.com/funds/aditya-birla-sun-life-balanced-advantage-fund-131666.md) | +2.9% | +10.8% | +8.7% | 9.0% | 1.95% | ₹9,937 cr |
| [Baroda BNP Paribas Balanced Advantage Fund](https://discovermf.com/funds/baroda-bnp-paribas-balanced-advantage-fund-145387.md) | +0.2% | +10.7% | +9.1% | 11.7% | 2.04% | ₹5,194 cr |
| [Axis Balanced Advantage Fund](https://discovermf.com/funds/axis-balanced-advantage-fund-141644.md) | -0.7% | +10.7% | +8.1% | 8.3% | 2.18% | ₹3,643 cr |
| [ICICI Prudential Balanced Advantage Fund](https://discovermf.com/funds/icici-prudential-balanced-advantage-fund-104685.md) | +1.9% | +10.5% | +9.5% | 9.4% | 1.56% | ₹72,512 cr |
| [HDFC Balanced Advantage Fund](https://discovermf.com/funds/hdfc-balanced-advantage-fund-100119.md) | -3.6% | +10.4% | +12.5% | 10.2% | 1.30% | ₹1.03 lakh cr |
| [WhiteOak Capital Balanced Advantage Fund](https://discovermf.com/funds/whiteoak-capital-balanced-advantage-fund-151268.md) | -0.4% | +10.0% | — | 9.1% | 2.24% | ₹2,238 cr |
| [Edelweiss Balanced Advantage Fund](https://discovermf.com/funds/edelweiss-balanced-advantage-fund-112117.md) | +1.3% | +9.7% | +7.9% | 9.4% | 1.92% | ₹13,019 cr |
| [DSP Dynamic Asset Allocation Fund](https://discovermf.com/funds/dsp-dynamic-asset-allocation-fund-126394.md) | +1.0% | +9.5% | +7.3% | 6.7% | 2.26% | ₹3,717 cr |
| [Mahindra Manulife Balanced Advantage Fund](https://discovermf.com/funds/mahindra-manulife-balanced-advantage-fund-149404.md) | -0.8% | +9.5% | — | 10.4% | 2.40% | ₹878 cr |
| [Nippon India Balanced Advantage Fund](https://discovermf.com/funds/nippon-india-balanced-advantage-fund-102846.md) | -1.0% | +9.1% | +7.9% | 8.9% | 1.99% | ₹9,509 cr |
| [Mirae Asset Balanced Advantage Fund](https://discovermf.com/funds/mirae-asset-balanced-advantage-fund-150473.md) | +0.8% | +9.1% | — | 8.1% | 2.28% | ₹2,113 cr |
| [SBI Balanced Advantage Fund](https://discovermf.com/funds/sbi-balanced-advantage-fund-149132.md) | -2.4% | +8.8% | +8.7% | 7.8% | 1.67% | ₹40,410 cr |
| [Bandhan Balanced Advantage Fund](https://discovermf.com/funds/bandhan-balanced-advantage-fund-131357.md) | +1.3% | +8.6% | +6.6% | 8.3% | 2.29% | ₹2,235 cr |
| [Kotak Balanced Advantage Fund](https://discovermf.com/funds/kotak-balanced-advantage-fund-144333.md) | -0.7% | +8.5% | +7.5% | 9.1% | 1.88% | ₹16,445 cr |
| [Bank of India Balanced Advantage Fund](https://discovermf.com/funds/bank-of-india-balanced-advantage-fund-127849.md) | -0.0% | +8.3% | +9.0% | 8.5% | 2.67% | ₹177 cr |
| [Invesco India Balanced Advantage Fund](https://discovermf.com/funds/invesco-india-balanced-advantage-fund-106317.md) | -3.3% | +8.2% | +7.2% | 8.7% | 2.40% | ₹915 cr |
| [HSBC Balanced Advantage Fund](https://discovermf.com/funds/hsbc-balanced-advantage-fund-151127.md) | -1.3% | +7.9% | — | 7.3% | 2.47% | ₹1,451 cr |
| [Franklin India Balanced Advantage Fund](https://discovermf.com/funds/franklin-india-balanced-advantage-fund-150480.md) | -3.7% | +7.8% | — | 8.9% | 2.23% | ₹2,642 cr |
| [UTI Balanced Advantage Fund](https://discovermf.com/funds/uti-balanced-advantage-fund-151882.md) | -3.4% | +7.6% | — | 9.1% | 2.00% | ₹2,898 cr |
| [UTI Unit Linked Insurance Plan](https://discovermf.com/funds/uti-unit-linked-insurance-plan-100646.md) | +0.1% | +7.4% | +5.1% | 6.5% | 1.57% | ₹4,914 cr |
| [Union Balanced Advantage Fund](https://discovermf.com/funds/union-balanced-advantage-fund-142035.md) | -2.3% | +7.2% | +6.0% | 9.9% | 2.52% | ₹1,148 cr |
| [Sundaram Dynamic Asset Allocation Fund](https://discovermf.com/funds/sundaram-dynamic-asset-allocation-fund-149715.md) | -4.6% | +6.7% | — | 9.5% | 2.54% | ₹1,592 cr |
| [Tata Balanced Advantage Fund](https://discovermf.com/funds/tata-balanced-advantage-fund-146007.md) | -3.4% | +6.6% | +6.7% | 9.2% | 1.86% | ₹7,854 cr |
| [NJ Balanced Advantage Fund](https://discovermf.com/funds/nj-balanced-advantage-fund-149266.md) | -1.0% | +6.5% | +6.1% | 7.9% | 2.41% | ₹3,212 cr |
| [ITI Balanced Advantage Fund](https://discovermf.com/funds/iti-balanced-advantage-fund-147787.md) | -6.2% | +6.5% | +4.7% | 9.3% | 3.22% | ₹305 cr |
| [LIC MF Balanced Advantage Fund](https://discovermf.com/funds/lic-mf-balanced-advantage-fund-149259.md) | -3.0% | +6.5% | — | 9.9% | 2.91% | ₹640 cr |
| [PGIM India Balanced Advantage Fund](https://discovermf.com/funds/pgim-india-balanced-advantage-fund-148657.md) | -5.1% | +6.0% | +5.3% | 10.2% | 2.48% | ₹677 cr |
| [Shriram Balanced Advantage Fund](https://discovermf.com/funds/shriram-balanced-advantage-fund-147405.md) | -4.8% | +4.6% | +4.4% | 9.2% | 2.57% | ₹41.3 cr |
| [Motilal Oswal Balanced Advantage Fund](https://discovermf.com/funds/motilal-oswal-balanced-advantage-fund-139870.md) | -3.6% | +2.1% | +4.4% | 11.7% | 2.78% | ₹707 cr |
| [Bajaj Finserv Balanced Advantage Fund](https://discovermf.com/funds/bajaj-finserv-balanced-advantage-fund-152196.md) | -1.2% | — | — | 11.2% | 2.66% | ₹1,206 cr |
| [Canara Robeco Balanced Advantage Fund](https://discovermf.com/funds/canara-robeco-balanced-advantage-fund-152690.md) | -4.1% | — | — | 10.3% | 2.38% | ₹1,006 cr |
| [Helios Balanced Advantage Fund](https://discovermf.com/funds/helios-balanced-advantage-fund-152512.md) | -1.5% | — | — | 11.5% | 2.38% | ₹267 cr |
| [JioBlackRock Balanced Advantage Fund](https://discovermf.com/funds/jioblackrock-balanced-advantage-fund-154702.md) | — | — | — | 7.7% | 3.61% | ₹30.2 cr |
| [Parag Parikh Dynamic Asset Allocation Fund](https://discovermf.com/funds/parag-parikh-dynamic-asset-allocation-fund-152464.md) | +1.3% | — | — | 3.0% | 0.76% | ₹2,451 cr |
| [Samco Dynamic Asset Allocation Fund](https://discovermf.com/funds/samco-dynamic-asset-allocation-fund-152187.md) | -4.5% | — | — | 10.2% | 3.44% | ₹152 cr |
| [Unifi Dynamic Asset Allocation Fund](https://discovermf.com/funds/unifi-dynamic-asset-allocation-fund-153377.md) | +8.0% | — | — | 0.9% | 1.99% | ₹1,538 cr |
| [The Wealth Company Balanced Advantage Fund](https://discovermf.com/funds/the-wealth-company-balanced-advantage-fund-154183.md) | — | — | — | 10.4% | 3.26% | ₹38.6 cr |

## Questions

### How many Balanced Advantage / Dynamic Asset Allocation funds are there?

38 funds, managing ₹3.21 lakh cr between them as of 3 Nov 2026. The largest is HDFC Balanced Advantage Fund, at ₹1.03 lakh cr.

### What return have Balanced Advantage / Dynamic Asset Allocation funds given?

The average Balanced Advantage / Dynamic Asset Allocation fund returned -1.5% over the last year, +8.2% a year over three years, +7.3% a year over five years. Over the last year the funds ranged from -6.2% to +8.0%. Past returns do not tell you future returns.

### Which Balanced Advantage / Dynamic Asset Allocation fund has the lowest expense ratio?

Parag Parikh Dynamic Asset Allocation Fund, at 0.76% a year, against 2.34% for the average fund in the category. The expense ratio is taken out of the fund every day, so every return shown is already after it.

### Which Balanced Advantage / Dynamic Asset Allocation fund has the highest three-year return?

quant Dynamic Asset Allocation Fund, at +11.3% a year over the last three years, against +8.2% for the average fund. Past returns do not tell you future returns.

### How risky are Balanced Advantage / Dynamic Asset Allocation funds?

Their volatility over the last year averaged 9.2%: the higher it is, the more the price swings from day to day. 33 of 38 carry the riskometer level Very High, on SEBI's six-step scale from Low to Very High.