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Tata Multi Asset Allocation Fund-Direct Plan-Growth vs UTI Multi Asset Allocation Fund - Direct Plan - Growth Option
Tata Multi Asset Allocation Fund- and UTI Multi Asset Allocation Fund are both in the Multi Asset Allocation category, from Tata Asset Management Limited and UTI Asset Mgmt. Co. Ltd. respectively. UTI Multi Asset Allocation Fund 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 0.26 percentage points.
| Tata Multi Asset Allocation Fund-Direct Plan-Growth | UTI Multi Asset Allocation Fund - Direct Plan - Growth Option | |
|---|---|---|
| Category | Multi Asset Allocation | Multi Asset Allocation |
| AMC | Tata Asset Management Limited | UTI Asset Mgmt. Co. Ltd. |
| Benchmark | 65% BSE 200 + 15% CRISIL Short Term Bond Index + 20% iCOMDEX Composite Index TRI | CRISIL Hybrid 50+50 - Moderate Index |
| NAV | ₹26.6214 (2026-10-28) | ₹83.7765 (2026-10-28) |
| AUM | ₹4,884.94 Cr | ₹6,509.012 Cr |
| Expense Ratio (Direct) | 0.64% | 0.9% |
| Inception | 2020-02-14 | 2008-10-21 |
Returns
UTI Multi Asset Allocation Fund leads on 3-year rolling CAGR (9.8% vs Tata Multi Asset Allocation Fund-'s 17.1%) - see the FAQ below for percentile context within each fund's own category.
Risk Metrics
UTI Multi Asset Allocation Fund has been the more volatile of the two by standard deviation.
| Tata Multi Asset Allocation Fund-Direct Plan-Growth | UTI Multi Asset Allocation Fund - Direct Plan - Growth Option | |
|---|---|---|
| 3Y Sharpe Ratio | 0.43 | 0.65 |
| 3Y Alpha | 4.5719% | 2.8097% |
| 3Y Std Deviation | 8.5641% | 9.037% |
| 3Y Calmar Ratio | 1.05 | 1.17 |
Portfolio Analytics
Tata 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.
| Tata Multi Asset Allocation Fund-Direct Plan-Growth | UTI Multi Asset Allocation Fund - Direct Plan - Growth Option | |
|---|---|---|
| P/E Ratio | 25.6619 | 24.0288 |
| P/B Ratio | - | - |
| Dividend Yield | 0.9885% | 1.5758% |
| Active Share | - | - |
| Portfolio Turnover | 72% | - |
| YTM | 6.99% | - |
| Duration (Macaulay) | 2.69 yrs | - |
Punji Fund Health Score
Tata Multi Asset Allocation Fund- has the stronger Punji Quality grade of the two.
Frequently asked questions
Which has a higher 3-year return, Tata Multi Asset Allocation Fund- or UTI Multi Asset Allocation Fund?
UTI Multi Asset Allocation Fund's 3-year rolling CAGR of 9.8% is higher than Tata Multi Asset Allocation Fund-'s 17.1%. UTI Multi Asset Allocation Fund sits in the 13th 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, Tata Multi Asset Allocation Fund- or UTI Multi Asset Allocation Fund?
Tata Multi Asset Allocation Fund-'s direct-plan expense ratio is 0.26 percentage points lower than UTI 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, Tata Multi Asset Allocation Fund- or UTI Multi Asset Allocation Fund?
By standard deviation (a measure of how much a fund's returns swing around its own average), UTI Multi Asset Allocation Fund 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 (0.43 for Tata Multi Asset Allocation Fund- vs 0.65 for UTI 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, Tata Multi Asset Allocation Fund- or UTI Multi Asset Allocation Fund?
UTI Multi Asset Allocation Fund has ₹6,509 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 fund has a longer track record, Tata Multi Asset Allocation Fund- or UTI Multi Asset Allocation Fund?
UTI Multi Asset Allocation Fund launched on 2008-10-21, making it older than Tata Multi Asset Allocation Fund- (launched 2020-02-14). 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.