# Multi Asset Allocation funds

At least 10% each in three or more asset classes, such as shares, debt and gold.

Full page: https://discovermf.com/categories/multi-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.

37 funds managing ₹2.22 lakh cr. Category averages: +1.6% over one year, +12.9% a year over three years; typical expense ratio 2.13%.

## All funds, by three-year return

| Fund | 1 year | 3 years (a year) | 5 years (a year) | Volatility | Expense ratio | Fund size |
| --- | --- | --- | --- | --- | --- | --- |
| [Quant Multi Asset Allocation Fund](https://discovermf.com/funds/quant-multi-asset-allocation-fund-101072.md) | +7.6% | +19.6% | +16.3% | 10.4% | 2.15% | ₹6,691 cr |
| [Nippon India Multi Asset Allocation Fund](https://discovermf.com/funds/nippon-india-multi-asset-allocation-fund-148459.md) | +2.2% | +15.8% | +12.3% | 11.5% | 1.45% | ₹18,130 cr |
| [DSP Multi Asset Allocation Fund](https://discovermf.com/funds/dsp-multi-asset-allocation-fund-152053.md) | +3.5% | +15.5% | — | 10.9% | 1.57% | ₹10,902 cr |
| [WhiteOak Capital Multi Asset Allocation Fund](https://discovermf.com/funds/whiteoak-capital-multi-asset-allocation-fund-151746.md) | +5.6% | +14.7% | — | 7.1% | 1.66% | ₹9,284 cr |
| [Kotak Multi Asset Allocation Fund](https://discovermf.com/funds/kotak-multi-asset-allocation-fund-152065.md) | +3.1% | +14.3% | — | 15.8% | 1.77% | ₹14,716 cr |
| [Aditya Birla Sun Life Multi Asset Allocation Fund](https://discovermf.com/funds/aditya-birla-sun-life-multi-asset-allocation-fund-151309.md) | +4.1% | +14.1% | — | 13.0% | 1.78% | ₹7,443 cr |
| [SBI Multi Asset Allocation Fund](https://discovermf.com/funds/sbi-multi-asset-allocation-fund-103408.md) | +1.7% | +12.7% | +11.4% | 9.3% | 1.38% | ₹20,828 cr |
| [UTI Multi Asset Allocation Fund](https://discovermf.com/funds/uti-multi-asset-allocation-fund-111599.md) | -1.7% | +12.7% | +11.5% | 11.8% | 1.85% | ₹6,546 cr |
| [Baroda BNP Paribas Multi Asset Fund](https://discovermf.com/funds/baroda-bnp-paribas-multi-asset-fund-150863.md) | +0.6% | +12.4% | — | 12.3% | 2.04% | ₹1,392 cr |
| [Axis Multi Asset Allocation Fund](https://discovermf.com/funds/axis-multi-asset-allocation-fund-113064.md) | +1.5% | +12.4% | +6.9% | 12.7% | 2.27% | ₹2,615 cr |
| [ICICI Prudential Multi Asset Allocation Fund](https://discovermf.com/funds/icici-prudential-multi-asset-allocation-fund-101144.md) | -3.0% | +12.1% | +13.1% | 10.5% | 1.43% | ₹83,186 cr |
| [Tata Multi Asset Allocation Fund](https://discovermf.com/funds/tata-multi-asset-allocation-fund-148050.md) | -2.5% | +10.4% | +9.4% | 10.7% | 1.96% | ₹4,931 cr |
| [HDFC Multi Asset Allocation Fund](https://discovermf.com/funds/hdfc-multi-asset-allocation-fund-103131.md) | -1.5% | +10.4% | +9.2% | 9.7% | 2.02% | ₹5,731 cr |
| [Shriram Multi Asset Allocation Fund](https://discovermf.com/funds/shriram-multi-asset-allocation-fund-152052.md) | +0.0% | +8.5% | — | 12.0% | 2.48% | ₹139 cr |
| [Edelweiss Multi Asset Allocation Fund](https://discovermf.com/funds/edelweiss-multi-asset-allocation-fund-151795.md) | +5.9% | +7.2% | — | 2.7% | 1.12% | ₹2,972 cr |
| [360 ONE Multi Asset Allocation Fund](https://discovermf.com/funds/360-one-multi-asset-allocation-fund-153772.md) | +5.5% | — | — | 12.0% | 2.12% | ₹515 cr |
| [AlphaGrep Multi Asset Allocation Fund](https://discovermf.com/funds/alphagrep-multi-asset-allocation-fund-154440.md) | — | — | — | 6.4% | 3.09% | ₹129 cr |
| [Bajaj Finserv Multi Asset Allocation Fund](https://discovermf.com/funds/bajaj-finserv-multi-asset-allocation-fund-152642.md) | +0.0% | — | — | 12.6% | 2.23% | ₹1,883 cr |
| [Bandhan Multi Asset Allocation Fund](https://discovermf.com/funds/bandhan-multi-asset-allocation-fund-152326.md) | +4.4% | — | — | 10.6% | 2.16% | ₹3,645 cr |
| [Bank of India Multi Asset Allocation Fund](https://discovermf.com/funds/bank-of-india-multi-asset-allocation-fund-152398.md) | +2.4% | — | — | 9.7% | 2.21% | ₹358 cr |
| [Canara Robeco Multi Asset Allocation Fund](https://discovermf.com/funds/canara-robeco-multi-asset-allocation-fund-153466.md) | +3.2% | — | — | 11.7% | 2.34% | ₹1,348 cr |
| [Capitalmind Multi Asset Allocation Fund](https://discovermf.com/funds/capitalmind-multi-asset-allocation-fund-154231.md) | — | — | — | 7.7% | 2.53% | ₹37.2 cr |
| [Franklin India Multi Asset Allocation Fund](https://discovermf.com/funds/franklin-india-multi-asset-allocation-fund-153733.md) | +0.7% | — | — | 12.9% | 1.97% | ₹2,713 cr |
| [Groww Multi Asset Allocation Fund](https://discovermf.com/funds/groww-multi-asset-allocation-fund-153851.md) | -1.3% | — | — | 12.4% | 2.68% | ₹379 cr |
| [HSBC Multi Asset Allocation Fund](https://discovermf.com/funds/hsbc-multi-asset-allocation-fund-152378.md) | +4.2% | — | — | 13.7% | 2.25% | ₹3,138 cr |
| [ITI Multi Asset Allocation Fund](https://discovermf.com/funds/iti-multi-asset-allocation-fund-154500.md) | — | — | — | 9.6% | 3.05% | ₹149 cr |
| [Invesco India Multi Asset Allocation Fund](https://discovermf.com/funds/invesco-india-multi-asset-allocation-fund-153046.md) | +5.2% | — | — | 11.5% | 1.68% | ₹1,207 cr |
| [JM Multi Asset Allocation Fund](https://discovermf.com/funds/jm-multi-asset-allocation-fund-154424.md) | — | — | — | 9.8% | 2.60% | ₹168 cr |
| [LIC MF Multi Asset Allocation Fund](https://discovermf.com/funds/lic-mf-multi-asset-allocation-fund-153248.md) | -3.7% | — | — | 14.4% | 2.39% | ₹933 cr |
| [Mahindra Manulife Multi Asset Allocation Fund](https://discovermf.com/funds/mahindra-manulife-multi-asset-allocation-fund-152441.md) | +3.6% | — | — | 10.4% | 1.90% | ₹1,213 cr |
| [Mirae Asset Multi Asset Allocation Fund](https://discovermf.com/funds/mirae-asset-multi-asset-allocation-fund-152347.md) | +3.6% | — | — | 10.5% | 2.13% | ₹3,603 cr |
| [PGIM India Multi Asset Allocation Fund](https://discovermf.com/funds/pgim-india-multi-asset-allocation-fund-153988.md) | — | — | — | 13.1% | 2.54% | ₹321 cr |
| [Quantum Multi Asset Allocation Fund](https://discovermf.com/funds/quantum-multi-asset-allocation-fund-152475.md) | -3.7% | — | — | 9.8% | 2.03% | ₹54.7 cr |
| [Samco Multi Asset Allocation Fund](https://discovermf.com/funds/samco-multi-asset-allocation-fund-153093.md) | -0.9% | — | — | 12.3% | 3.70% | ₹369 cr |
| [Sundaram Multi Asset Allocation Fund](https://discovermf.com/funds/sundaram-multi-asset-allocation-fund-152311.md) | -2.7% | — | — | 13.6% | 2.10% | ₹3,141 cr |
| [Union Multi Asset Allocation Fund](https://discovermf.com/funds/union-multi-asset-allocation-fund-152786.md) | +2.4% | — | — | 13.4% | 2.41% | ₹976 cr |
| [The Wealth Company Multi Asset Allocation Fund](https://discovermf.com/funds/the-wealth-company-multi-asset-allocation-fund-154002.md) | — | — | — | 13.3% | 2.79% | ₹209 cr |

## Questions

### How many Multi Asset Allocation funds are there?

37 funds, managing ₹2.22 lakh cr between them as of 3 Nov 2026. The largest is ICICI Prudential Multi Asset Allocation Fund, at ₹83,186 cr.

### What return have Multi Asset Allocation funds given?

The average Multi Asset Allocation fund returned +1.6% over the last year, +12.9% a year over three years, +11.3% a year over five years. Over the last year the funds ranged from -3.7% to +7.6%. Past returns do not tell you future returns.

### Which Multi Asset Allocation fund has the lowest expense ratio?

Edelweiss Multi Asset Allocation Fund, at 1.12% a year, against 2.13% 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 Multi Asset Allocation fund has the highest three-year return?

Quant Multi Asset Allocation Fund, at +19.6% a year over the last three years, against +12.9% for the average fund. Past returns do not tell you future returns.

### How risky are Multi Asset Allocation funds?

Their volatility over the last year averaged 11.5%: the higher it is, the more the price swings from day to day. 27 of 37 carry the riskometer level Very High, on SEBI's six-step scale from Low to Very High.