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Aditya Birla Sun Life Multi Asset Allocation Fund-Direct Growth vs Tata Multi Asset Allocation Fund-Direct Plan-Growth
Aditya Birla Sun Life Multi Asset Allocation Fund-Direct Growth and Tata Multi Asset Allocation Fund- are both in the Multi Asset Allocation category, from Aditya Birla Sun Life AMC Limited and Tata Asset Management Limited respectively. Aditya Birla Sun Life Multi Asset Allocation Fund-Direct Growth has posted a higher 3-year rolling CAGR. Tata Multi Asset Allocation Fund- has the lower expense ratio. See the full table and FAQ below for the complete real-data comparison.
Basics
Tata Multi Asset Allocation Fund- has the lower direct-plan expense ratio, by 0.03 percentage points.
| Aditya Birla Sun Life Multi Asset Allocation Fund-Direct Growth | Tata Multi Asset Allocation Fund-Direct Plan-Growth | |
|---|---|---|
| Category | Multi Asset Allocation | Multi Asset Allocation |
| AMC | Aditya Birla Sun Life AMC Limited | Tata Asset Management Limited |
| Benchmark | 65% BSE 200 + 25% CRISIL Short Term Bond Index + 5% of Domestic prices of Gold + 5% of Domestic prices of Silver | 65% BSE 200 + 15% CRISIL Short Term Bond Index + 20% iCOMDEX Composite Index TRI |
| NAV | ₹16.9616 (2026-10-28) | ₹26.6214 (2026-10-28) |
| AUM | ₹7,364.741 Cr | ₹4,884.94 Cr |
| Expense Ratio (Direct) | 0.67% | 0.64% |
| Inception | 2023-01-11 | 2020-02-14 |
Returns
Aditya Birla Sun Life Multi Asset Allocation Fund-Direct Growth leads on 3-year rolling CAGR (17.8% vs Tata Multi Asset Allocation Fund-'s 17.1%) - see the FAQ below for percentile context within each fund's own category.
Risk Metrics
Aditya Birla Sun Life Multi Asset Allocation Fund-Direct Growth has been the more volatile of the two by standard deviation.
| Aditya Birla Sun Life Multi Asset Allocation Fund-Direct Growth | Tata Multi Asset Allocation Fund-Direct Plan-Growth | |
|---|---|---|
| 3Y Sharpe Ratio | 0.70 | 0.43 |
| 3Y Alpha | 3.184% | 4.5719% |
| 3Y Std Deviation | 9.6518% | 8.5641% |
| 3Y Calmar Ratio | 1.08 | 1.05 |
Portfolio Analytics
Aditya Birla Sun Life Multi Asset Allocation Fund-Direct Growth carries the higher portfolio YTM.
| Aditya Birla Sun Life Multi Asset Allocation Fund-Direct Growth | Tata Multi Asset Allocation Fund-Direct Plan-Growth | |
|---|---|---|
| P/E Ratio | 26.6403 | 25.6619 |
| P/B Ratio | 6.0028 | - |
| Dividend Yield | 1.0218% | 0.9885% |
| Active Share | - | - |
| Portfolio Turnover | 56.99999999999999% | 72% |
| YTM | 7.6721% | 6.99% |
| Duration (Macaulay) | 1.7 yrs | 2.69 yrs |
Punji Fund Health Score
Aditya Birla Sun Life Multi Asset Allocation Fund-Direct Growth and Tata Multi Asset Allocation Fund- carry the same Punji Quality grade.
Frequently asked questions
Which has a higher 3-year return, Aditya Birla Sun Life Multi Asset Allocation Fund-Direct Growth or Tata Multi Asset Allocation Fund-?
Aditya Birla Sun Life Multi Asset Allocation Fund-Direct Growth's 3-year rolling CAGR of 17.8% is higher than Tata Multi Asset Allocation Fund-'s 17.1%. Aditya Birla Sun Life Multi Asset Allocation Fund-Direct Growth sits in the 87th percentile of its category on this metric, versus the 60th percentile for Tata Multi Asset Allocation Fund- - though note both funds may belong to different categories with different medians, so a raw CAGR comparison doesn't account for how each fund performed relative to its own peers. A higher historical return also doesn't necessarily mean lower risk; check the risk metrics below before concluding either fund is the "better" choice.
Which has a lower expense ratio, Aditya Birla Sun Life Multi Asset Allocation Fund-Direct Growth or Tata Multi Asset Allocation Fund-?
Tata Multi Asset Allocation Fund-'s direct-plan expense ratio is 0.03 percentage points lower than Aditya Birla Sun Life Multi Asset Allocation Fund-Direct Growth's. Over long holding periods, a persistent expense-ratio gap compounds into a materially different final corpus even if the two funds' gross returns are similar - it's one of the few fund attributes you can compare with total certainty upfront, unlike future returns, since the fee is contractually fixed rather than a historical estimate.
Which fund carries more risk, Aditya Birla Sun Life Multi Asset Allocation Fund-Direct Growth or Tata Multi Asset Allocation Fund-?
By standard deviation (a measure of how much a fund's returns swing around its own average), Aditya Birla Sun Life Multi Asset Allocation Fund-Direct Growth has been more volatile than Tata Multi Asset Allocation Fund- over the trailing window. Standard deviation captures total volatility in both directions - up and down - so a higher figure means bigger swings generally, not necessarily bigger losses specifically. Sharpe ratio (0.70 for Aditya Birla Sun Life Multi Asset Allocation Fund-Direct Growth vs 0.43 for Tata Multi Asset Allocation Fund-) is a better single measure of risk-adjusted return, since it weighs the return earned per unit of volatility taken rather than volatility alone.
Which has higher AUM, Aditya Birla Sun Life Multi Asset Allocation Fund-Direct Growth or Tata Multi Asset Allocation Fund-?
Aditya Birla Sun Life Multi Asset Allocation Fund-Direct Growth has ₹7,365 Cr in assets under management, versus ₹4,885 Cr for Tata Multi Asset Allocation Fund-. A larger AUM generally means deeper liquidity and lower per-unit fixed costs for the AMC to spread across investors, but an AUM that's very large relative to a fund's category and strategy (especially in small/mid cap categories, where the investable universe is smaller) can also make it harder for a manager to enter and exit positions without moving the price - bigger isn't automatically better, especially for less liquid categories.
Which has a higher yield to maturity (YTM), Aditya Birla Sun Life Multi Asset Allocation Fund-Direct Growth or Tata Multi Asset Allocation Fund-?
Aditya Birla Sun Life Multi Asset Allocation Fund-Direct Growth's portfolio YTM (7.6721%) is higher than Tata Multi Asset Allocation Fund-'s. YTM is the weighted-average return a debt fund's current bond holdings would earn if held to maturity, assuming no defaults and coupons reinvested at the same rate - a useful forward-looking yield estimate for debt funds the way rolling CAGR is for equity funds, though it's an estimate based on today's portfolio, not a guaranteed return, and can move as bonds are bought/sold or as interest rates change.
Which has longer duration (more interest-rate sensitivity), Aditya Birla Sun Life Multi Asset Allocation Fund-Direct Growth or Tata Multi Asset Allocation Fund-?
Tata Multi Asset Allocation Fund- has the longer Macaulay duration of the two, meaning its NAV is more sensitive to interest-rate changes - a longer-duration debt fund tends to gain more when rates fall and lose more when rates rise, compared to a shorter-duration fund. Duration is expressed in years but isn't literally about how long you hold the fund; it's a measure of price sensitivity to rate moves. If you expect rates to fall, the longer-duration fund benefits more; if you expect rates to rise or want to minimize that swing, the shorter-duration fund is the more conservative pick.
Which fund has a longer track record, Aditya Birla Sun Life Multi Asset Allocation Fund-Direct Growth or Tata Multi Asset Allocation Fund-?
Tata Multi Asset Allocation Fund- launched on 2020-02-14, making it older than Aditya Birla Sun Life Multi Asset Allocation Fund-Direct Growth (launched 2023-01-11). A longer track record means more real market cycles (bull runs, corrections, rate cycles) the fund has actually navigated, which is useful context for judging consistency - but it isn't a guarantee of future performance, and a newer fund isn't automatically worse, especially if it's run by an experienced manager or team with a track record at a prior fund.
Data as of 2026-10-29. Source: AMFI disclosures via Punji. Not investment advice.