Axis Multicap Fund vs HSBC Multi Cap Fund
Axis Multicap Fund (Direct) and HSBC Multi Cap Fund (Direct) head to head: growth of ₹100, returns across every window, risk, cost, and portfolio overlap — every figure computed from AMFI NAV history, nothing supplied by a fund house. Both are Multi Cap Fund schemes — see the best multi cap mutual funds for the full ranking.
Head to head
NAVs as of 20 Aug 2026
Growth of ₹100 (rebased over the selected window)
Common period 03 Feb 2023 – 20 Aug 2026, limited by HSBC Multi Cap Fund. Every series is rebased to ₹100 at the start of this window. Benchmark lines are the category index WealthTicker measures against, which is not always the benchmark the scheme itself declares — the fund page’s Scheme Info names that one.
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| Date | Axis Multicap Fund | HSBC Multi Cap Fund | Nifty 500 |
|---|---|---|---|
| 03 Feb 2023 | ₹100.00 | ₹100.00 | ₹100.00 |
| 22 May 2023 | ₹105.94 | ₹107.04 | ₹103.62 |
| 07 Sep 2023 | ₹122.84 | ₹127.50 | ₹116.19 |
| 24 Dec 2023 | ₹138.23 | ₹146.57 | ₹127.35 |
| 09 Apr 2024 | ₹152.62 | ₹165.28 | ₹138.95 |
| 26 Jul 2024 | ₹178.27 | ₹189.77 | ₹155.67 |
| 11 Nov 2024 | ₹181.69 | ₹187.03 | ₹150.99 |
| 27 Feb 2025 | ₹162.78 | ₹163.74 | ₹135.78 |
| 15 Jun 2025 | ₹183.90 | ₹188.02 | ₹153.09 |
| 01 Oct 2025 | ₹188.03 | ₹191.87 | ₹153.24 |
| 16 Jan 2026 | ₹188.13 | ₹193.77 | ₹156.96 |
| 04 May 2026 | ₹188.93 | ₹198.19 | ₹152.59 |
| 20 Aug 2026 | ₹211.67 | ₹214.93 | ₹157.15 |
Portfolio overlap (same stocks held through more than one fund)
Some overlap is structural: SEBI defines large cap as the top 100 stocks by market capitalisation, so two large-cap funds are fishing the same pond by regulation. The bands below are measured per sleeve pairing rather than against one blanket threshold. How this is measured →
Axis Multicap Fund and HSBC Multi Cap Fund share 44% of their equity book by weight.
Shared holdings — Axis Multicap Fund vs HSBC Multi Cap Fund
| Stock | Axis Multicap Fund | HSBC Multi Cap Fund | |
|---|---|---|---|
| HDFC Bank Ltd | 4.51% | 3.52% | 3.52% |
| ICICI Bank Ltd | 4.06% | 2.43% | 2.43% |
| Apar Industries Ltd | 1.96% | 2.06% | 1.96% |
| Larsen & Toubro Ltd | 2.03% | 1.83% | 1.83% |
| Reliance Industries Ltd | 1.69% | 2.24% | 1.69% |
| GE T&D India Ltd | 1.67% | 2.04% | 1.67% |
| State Bank of India | 1.55% | 2.11% | 1.55% |
| BSE Ltd | 1.39% | 1.53% | 1.39% |
| Multi Commodity Exchange Of India Ltd | 1.54% | 1.31% | 1.31% |
| Shriram Transport Finance Company Ltd | 2.70% | 1.30% | 1.30% |
| Karur Vysya Bank Ltd | 1.18% | 1.28% | 1.18% |
| Varun Beverages Ltd | 1.14% | 1.24% | 1.14% |
| Bharti Airtel Ltd | 1.77% | 1.09% | 1.09% |
| The Federal Bank Ltd | 1.08% | 2.65% | 1.08% |
| Radico Khaitan Ltd | 1.07% | 1.82% | 1.07% |
32 more stocks in common. 47 shared of 106 / 98 positions. Weights are shown as a share of each fund's equity book.
| Metric | Axis · Direct NAV ₹21.04 Very High risk ★★★★★ | HSBC · Direct NAV ₹21.53 Very High risk ★★★★★ | Category median Multi Cap Fund · 32 funds |
|---|---|---|---|
| +12.03%Best in row | +11.18% | +9.70% | |
| +22.11%Best in row | +21.04% | +16.81% | |
| +17.29% | +24.11%Best in row | +16.56% | |
| +19.64%Best in row | +17.22% | — | |
| +22.97%Best in row | +22.55% | +18.65% | |
| Risk | |||
| 14.76%Best in row | 16.23% | 14.82% | |
| 1.06Best in row | 0.90 | 0.64 | |
| 1.45Best in row | 1.22 | 0.87 | |
| -18.08%Best in row | -20.07% | -20.01% | |
| +8.14%Best in row | +7.20% | +4.32% | |
| 0.98 | 1.07 | 1.01 | |
| 121.9% | 123.5%Best in row | 111.5% | |
| 83.7%Best in row | 91.2% | 92.7% | |
| 1.10% | 0.82%Best in row | 0.94% | |
| ₹9,775Cr | ₹5,538Cr | ₹3,392Cr | |
| ₹100 | ₹500 | — | |
| ₹100 | ₹5.00K | — | |
| 57% | 53% | 57% | |
| Sachin Jain | Sonal Gupta | — | |
| 23 Dec 2021 | 03 Feb 2023 | — | |
| 106 | 98 | — | |
| 24.0% | 22.5% | — | |
| -0.7% | 1.6% | — | |
7 rows carry the same value for every fund — show
- 5Y return (CAGR)
- —
- 10Y return (CAGR)
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- 5Y rolling avg
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- 10Y rolling avg
- —
- Benchmark
- Nifty 500
- Exit load
- Up to 1.00%
- Lock-in
- None
Best marks the strongest value in a row, and only where the gap is bigger than noise — a near-tie is left unmarked rather than dressed up as a result. SIP XIRR is a ₹10,000/month instalment over 5 years of real NAV history. Nothing here is supplied by a fund house. For research only — not investment advice.
Frequently asked questions
Which fund has delivered higher returns — Axis Multicap Fund or HSBC Multi Cap Fund?
Over the last 3 years, Axis Multicap Fund returned +22.11% CAGR against HSBC Multi Cap Fund's +21.04%, computed from AMFI NAV history. Past returns don't guarantee future performance.
Which fund is cheaper — Axis Multicap Fund or HSBC Multi Cap Fund?
HSBC Multi Cap Fund has the lower expense ratio: Axis Multicap Fund charges 1.10% a year against HSBC Multi Cap Fund's 0.82%. The expense ratio is deducted from the NAV daily, so a lower one compounds in the investor's favour.
Which fund is riskier — Axis Multicap Fund or HSBC Multi Cap Fund?
HSBC Multi Cap Fund has shown higher volatility (+16.23% annualized vs Axis Multicap Fund's +14.76%), measured as the annualized standard deviation of daily returns over the trailing 3 years. Worst 3-year drawdown: Axis Multicap Fund -18.08% vs HSBC Multi Cap Fund -20.07%.
Which fund manages more money — Axis Multicap Fund or HSBC Multi Cap Fund?
Axis Multicap Fund is the larger fund: Axis Multicap Fund manages ₹9,775Cr against HSBC Multi Cap Fund's ₹5,538Cr in assets. Size cuts both ways — scale lowers costs, but a very large fund can find it harder to move in and out of positions.
Are Axis Multicap Fund and HSBC Multi Cap Fund in the same category?
Yes — both are Multi Cap Fund schemes, so their returns, risk and cost are directly comparable against the same peer set.
Figures update daily from AMFI NAV history; ratings and ranks are WealthTicker’s own — see the methodology. This is data, not investment advice.