COMPARE
DSP Dynamic Asset Allocation Fund - Direct Plan - Growth vs Union Balanced Advantage Fund - Direct Plan - Growth Option
DSP Dynamic Asset Allocation Fund and Union Balanced Advantage Fund are both in the Dynamic Asset Allocation or Balanced Advantage category, from DSP Asset Managers Private Limited and Union Asset Management Company Private Limited respectively. Union Balanced Advantage Fund has posted a higher 3-year rolling CAGR. DSP Dynamic Asset Allocation Fund has the lower expense ratio. See the full table and FAQ below for the complete real-data comparison.
Basics
DSP Dynamic Asset Allocation Fund has the lower direct-plan expense ratio, by 0.43 percentage points.
| DSP Dynamic Asset Allocation Fund - Direct Plan - Growth | Union Balanced Advantage Fund - Direct Plan - Growth Option | |
|---|---|---|
| Category | Dynamic Asset Allocation or Balanced Advantage | Dynamic Asset Allocation or Balanced Advantage |
| AMC | DSP Asset Managers Private Limited | Union Asset Management Company Private Limited |
| Benchmark | CRISIL Hybrid 50+50 - Moderate Index | NIFTY 50 Hybrid Composite Debt 50:50 Index |
| NAV | ₹32.35 (2026-10-28) | ₹21.56 (2026-10-28) |
| AUM | ₹3,673.484 Cr | ₹1,125.836 Cr |
| Expense Ratio (Direct) | 1.04% | 1.47% |
| Inception | 2014-01-17 | 2017-12-07 |
Returns
Union Balanced Advantage Fund leads on 3-year rolling CAGR (12.0% vs DSP Dynamic Asset Allocation Fund's 10.3%) - see the FAQ below for percentile context within each fund's own category.
Risk Metrics
Union Balanced Advantage Fund has been the more volatile of the two by standard deviation.
| DSP Dynamic Asset Allocation Fund - Direct Plan - Growth | Union Balanced Advantage Fund - Direct Plan - Growth Option | |
|---|---|---|
| 3Y Sharpe Ratio | 0.39 | -0.06 |
| 3Y Alpha | 0.2731% | -3.4371% |
| 3Y Std Deviation | 5.7592% | 8.2854% |
| 3Y Calmar Ratio | 1.70 | 0.73 |
Portfolio Analytics
DSP Dynamic Asset Allocation Fund carries the higher portfolio YTM.
| DSP Dynamic Asset Allocation Fund - Direct Plan - Growth | Union Balanced Advantage Fund - Direct Plan - Growth Option | |
|---|---|---|
| P/E Ratio | 20.1988 | 29.0476 |
| P/B Ratio | - | 6.656 |
| Dividend Yield | 1.3638% | 0.883% |
| Active Share | - | - |
| Portfolio Turnover | 408% | 180% |
| YTM | 7.6875% | 7.6748% |
| Duration (Macaulay) | 0.95 yrs | 2.66 yrs |
Punji Fund Health Score
DSP Dynamic Asset Allocation Fund and Union Balanced Advantage Fund carry the same Punji Quality grade.
Frequently asked questions
Which has a higher 3-year return, DSP Dynamic Asset Allocation Fund or Union Balanced Advantage Fund?
Union Balanced Advantage Fund's 3-year rolling CAGR of 12.0% is higher than DSP Dynamic Asset Allocation Fund's 10.3%. Union Balanced Advantage Fund sits in the 38th percentile of its category on this metric, versus the 14th percentile for DSP Dynamic 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, DSP Dynamic Asset Allocation Fund or Union Balanced Advantage Fund?
DSP Dynamic Asset Allocation Fund's direct-plan expense ratio is 0.43 percentage points lower than Union Balanced Advantage 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, DSP Dynamic Asset Allocation Fund or Union Balanced Advantage Fund?
By standard deviation (a measure of how much a fund's returns swing around its own average), Union Balanced Advantage Fund has been more volatile than DSP Dynamic 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 (0.39 for DSP Dynamic Asset Allocation Fund vs -0.06 for Union Balanced Advantage 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, DSP Dynamic Asset Allocation Fund or Union Balanced Advantage Fund?
DSP Dynamic Asset Allocation Fund has ₹3,673 Cr in assets under management, versus ₹1,126 Cr for Union Balanced Advantage 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), DSP Dynamic Asset Allocation Fund or Union Balanced Advantage Fund?
DSP Dynamic Asset Allocation Fund's portfolio YTM (7.6875%) is higher than Union Balanced Advantage 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), DSP Dynamic Asset Allocation Fund or Union Balanced Advantage Fund?
Union Balanced Advantage 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, DSP Dynamic Asset Allocation Fund or Union Balanced Advantage Fund?
DSP Dynamic Asset Allocation Fund launched on 2014-01-17, making it older than Union Balanced Advantage Fund (launched 2017-12-07). 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.