COMPARE
Axis Multicap Fund - Direct Growth vs HSBC Multi Cap Fund - Direct - Growth
Axis Multicap Fund and HSBC Multi Cap Fund are both in the Multi Cap Fund category, from Axis Asset Management Co. Ltd. and HSBC Asset Management (India) Private Ltd. respectively. Axis Multicap Fund has posted a higher 3-year rolling CAGR. HSBC Multi Cap Fund has the lower expense ratio. See the full table and FAQ below for the complete real-data comparison.
Basics
HSBC Multi Cap Fund has the lower direct-plan expense ratio, by 0.22 percentage points.
| Axis Multicap Fund - Direct Growth | HSBC Multi Cap Fund - Direct - Growth | |
|---|---|---|
| Category | Multi Cap Fund | Multi Cap Fund |
| AMC | Axis Asset Management Co. Ltd. | HSBC Asset Management (India) Private Ltd. |
| Benchmark | Nifty500 Multicap 50:25:25 TRI | Nifty500 Multicap 50:25:25 TRI |
| NAV | ₹20.03 (2026-10-28) | ₹19.9012 (2026-10-28) |
| AUM | ₹11,906.575 Cr | ₹6,195.295 Cr |
| Expense Ratio (Direct) | 1.03% | 0.81% |
| Inception | 2021-11-26 | 2023-01-10 |
Returns
Axis Multicap Fund leads on 3-year rolling CAGR (22.7% vs HSBC Multi Cap Fund's 21.8%) - see the FAQ below for percentile context within each fund's own category.
Risk Metrics
HSBC Multi Cap Fund has been the more volatile of the two by standard deviation.
| Axis Multicap Fund - Direct Growth | HSBC Multi Cap Fund - Direct - Growth | |
|---|---|---|
| 3Y Sharpe Ratio | 0.58 | 0.43 |
| 3Y Alpha | 6.3987% | 4.6144% |
| 3Y Std Deviation | 15.042% | 16.4182% |
| 3Y Calmar Ratio | 0.87 | 0.71 |
Portfolio Analytics
Axis Multicap Fund carries the higher portfolio P/E ratio (a rougher proxy for how richly the underlying holdings are valued) - see the table below for the full comparison.
| Axis Multicap Fund - Direct Growth | HSBC Multi Cap Fund - Direct - Growth | |
|---|---|---|
| P/E Ratio | 33.7814 | 30.5466 |
| P/B Ratio | 7.8133 | - |
| Dividend Yield | 0.5952% | 0.7799% |
| Active Share | 61.81% | 66.25% |
| Portfolio Turnover | 56.99999999999999% | 49% |
| YTM | - | - |
| Duration (Macaulay) | - | - |
Punji Fund Health Score
Axis Multicap Fund and HSBC Multi Cap Fund carry the same Punji Quality grade.
Frequently asked questions
Which has a higher 3-year return, Axis Multicap Fund or HSBC Multi Cap Fund?
Axis Multicap Fund's 3-year rolling CAGR of 22.7% is higher than HSBC Multi Cap Fund's 21.8%. Axis Multicap Fund sits in the 95th percentile of its category on this metric, versus the 86th percentile for HSBC Multi Cap 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, Axis Multicap Fund or HSBC Multi Cap Fund?
HSBC Multi Cap Fund's direct-plan expense ratio is 0.22 percentage points lower than Axis Multicap Fund'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, Axis Multicap Fund or HSBC Multi Cap Fund?
By standard deviation (a measure of how much a fund's returns swing around its own average), HSBC Multi Cap Fund has been more volatile than Axis Multicap 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 (0.58 for Axis Multicap Fund vs 0.43 for HSBC Multi Cap 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, Axis Multicap Fund or HSBC Multi Cap Fund?
Axis Multicap Fund has ₹11,907 Cr in assets under management, versus ₹6,195 Cr for HSBC Multi Cap 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 fund has a longer track record, Axis Multicap Fund or HSBC Multi Cap Fund?
Axis Multicap Fund launched on 2021-11-26, making it older than HSBC Multi Cap Fund (launched 2023-01-10). 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.