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HDFC Multi Asset Allocation Fund - Growth Option - Direct Plan vs Nippon India Multi Asset Allocation Fund - Direct Plan - Growth Option
HDFC Multi Asset Allocation Fund and Nippon India Multi Asset Allocation Fund are both in the Multi Asset Allocation category, from HDFC Asset Management Company Limited and Nippon Life India Asset Management Limited respectively. Nippon India Multi Asset Allocation Fund has posted a higher 3-year rolling CAGR. Nippon India Multi Asset Allocation Fund has the lower expense ratio. See the full table and FAQ below for the complete real-data comparison.
Basics
Nippon India Multi Asset Allocation Fund has the lower direct-plan expense ratio, by 0.53 percentage points.
| HDFC Multi Asset Allocation Fund - Growth Option - Direct Plan | Nippon India Multi Asset Allocation Fund - Direct Plan - Growth Option | |
|---|---|---|
| Category | Multi Asset Allocation | Multi Asset Allocation |
| AMC | HDFC Asset Management Company Limited | Nippon Life India Asset Management Limited |
| Benchmark | 65% Nifty 50 TRI + 22.5% Nifty Composite Debt Index + 10% Domestic Price of Gold + 2.5% Domestic Price of Silver | CRISIL SHORT TERM BOND INDEX |
| NAV | ₹81.222 (2026-10-28) | ₹25.7138 (2026-10-28) |
| AUM | ₹5,691.919 Cr | ₹18,005.338 Cr |
| Expense Ratio (Direct) | 1% | 0.47% |
| Inception | 2005-07-11 | 2020-08-07 |
Returns
Nippon India Multi Asset Allocation Fund leads on 3-year rolling CAGR (18.5% vs HDFC Multi Asset Allocation Fund's 12.8%) - see the FAQ below for percentile context within each fund's own category.
Risk Metrics
Nippon India Multi Asset Allocation Fund has been the more volatile of the two by standard deviation.
Portfolio Analytics
HDFC Multi Asset Allocation 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.
| HDFC Multi Asset Allocation Fund - Growth Option - Direct Plan | Nippon India Multi Asset Allocation Fund - Direct Plan - Growth Option | |
|---|---|---|
| P/E Ratio | 21.5785 | 20.3984 |
| P/B Ratio | - | 7.3728 |
| Dividend Yield | 1.4711% | 1.1613% |
| Active Share | - | - |
| Portfolio Turnover | - | 74% |
| YTM | - | 7.18% |
| Duration (Macaulay) | - | 2.33 yrs |
Punji Fund Health Score
Nippon India Multi Asset Allocation Fund has the stronger Punji Quality grade of the two.
Frequently asked questions
Which has a higher 3-year return, HDFC Multi Asset Allocation Fund or Nippon India Multi Asset Allocation Fund?
Nippon India Multi Asset Allocation Fund's 3-year rolling CAGR of 18.5% is higher than HDFC Multi Asset Allocation Fund's 12.8%. Nippon India Multi Asset Allocation Fund sits in the 100th percentile of its category on this metric, versus the 40th percentile for HDFC 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, HDFC Multi Asset Allocation Fund or Nippon India Multi Asset Allocation Fund?
Nippon India Multi Asset Allocation Fund's direct-plan expense ratio is 0.53 percentage points lower than HDFC Multi Asset Allocation 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, HDFC Multi Asset Allocation Fund or Nippon India Multi Asset Allocation Fund?
By standard deviation (a measure of how much a fund's returns swing around its own average), Nippon India Multi Asset Allocation Fund has been more volatile than HDFC 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 (0.49 for HDFC Multi Asset Allocation Fund vs 1.02 for Nippon India 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, HDFC Multi Asset Allocation Fund or Nippon India Multi Asset Allocation Fund?
Nippon India Multi Asset Allocation Fund has ₹18,005 Cr in assets under management, versus ₹5,692 Cr for HDFC 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 fund has a longer track record, HDFC Multi Asset Allocation Fund or Nippon India Multi Asset Allocation Fund?
HDFC Multi Asset Allocation Fund launched on 2005-07-11, making it older than Nippon India Multi Asset Allocation Fund (launched 2020-08-07). 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.