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Nippon India Multi Asset Allocation Fund - Direct Plan - Growth Option vs Shriram Multi Asset Allocation Fund - Direct Growth
Nippon India Multi Asset Allocation Fund and Shriram Multi Asset Allocation Fund are both in the Multi Asset Allocation category, from Nippon Life India Asset Management Limited and Shriram Asset Management Co. Ltd. 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 0.14 percentage points.
| Nippon India Multi Asset Allocation Fund - Direct Plan - Growth Option | Shriram Multi Asset Allocation Fund - Direct Growth | |
|---|---|---|
| Category | Multi Asset Allocation | Multi Asset Allocation |
| AMC | Nippon Life India Asset Management Limited | Shriram Asset Management Co. Ltd. |
| Benchmark | CRISIL SHORT TERM BOND INDEX | Nifty 50 TRI 70% + NIFTY Short Duration Debt Index 20% + Domestic prices of Gold 8% + Domestic prices of Silver 2% |
| NAV | ₹25.7138 (2026-10-28) | ₹13.2579 (2026-10-28) |
| AUM | ₹18,005.338 Cr | ₹138.954 Cr |
| Expense Ratio (Direct) | 0.47% | 0.61% |
| Inception | 2020-08-07 | 2023-08-18 |
Returns
Nippon India Multi Asset Allocation Fund leads on 3-year rolling CAGR (18.5% vs Shriram Multi Asset Allocation Fund's 10.6%) - see the FAQ below for percentile context within each fund's own category.
Risk Metrics
Shriram Multi Asset Allocation Fund has been the more volatile of the two by standard deviation.
| Nippon India Multi Asset Allocation Fund - Direct Plan - Growth Option | Shriram Multi Asset Allocation Fund - Direct Growth | |
|---|---|---|
| 3Y Sharpe Ratio | 1.02 | 0.23 |
| 3Y Alpha | 10.2968% | -0.5231% |
| 3Y Std Deviation | 9.4322% | 10.3767% |
| 3Y Calmar Ratio | 1.55 | 0.62 |
Portfolio Analytics
Shriram 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.
| Nippon India Multi Asset Allocation Fund - Direct Plan - Growth Option | Shriram Multi Asset Allocation Fund - Direct Growth | |
|---|---|---|
| P/E Ratio | 20.3984 | 20.8327 |
| P/B Ratio | 7.3728 | 6.656 |
| Dividend Yield | 1.1613% | 1.311% |
| 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, Nippon India Multi Asset Allocation Fund or Shriram Multi Asset Allocation Fund?
Nippon India Multi Asset Allocation Fund's 3-year rolling CAGR of 18.5% is higher than Shriram Multi Asset Allocation Fund's 10.6%. Nippon India Multi Asset Allocation Fund sits in the 100th percentile of its category on this metric, versus the 20th percentile for Shriram 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, Nippon India Multi Asset Allocation Fund or Shriram Multi Asset Allocation Fund?
Nippon India Multi Asset Allocation Fund's direct-plan expense ratio is 0.14 percentage points lower than Shriram 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, Nippon India Multi Asset Allocation Fund or Shriram Multi Asset Allocation Fund?
By standard deviation (a measure of how much a fund's returns swing around its own average), Shriram Multi Asset Allocation Fund has been more volatile than Nippon India 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 (1.02 for Nippon India Multi Asset Allocation Fund vs 0.23 for Shriram 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, Nippon India Multi Asset Allocation Fund or Shriram Multi Asset Allocation Fund?
Nippon India Multi Asset Allocation Fund has ₹18,005 Cr in assets under management, versus ₹139 Cr for Shriram 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, Nippon India Multi Asset Allocation Fund or Shriram Multi Asset Allocation Fund?
Nippon India Multi Asset Allocation Fund launched on 2020-08-07, making it older than Shriram Multi Asset Allocation Fund (launched 2023-08-18). 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.