HybridMulti Asset AllocationRegularGrowthHigh

HDFC Multi Asset Allocation Fund

Q: What is the NAV of HDFC Multi Asset Allocation Fund?

As of 01 Oct 2026, the NAV of HDFC Multi Asset Allocation Fund is ₹72.36 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has HDFC Multi Asset Allocation Fund delivered?

HDFC Multi Asset Allocation Fund has returned -1.00% over 1 year, +9.82% per year over 3 years, +9.12% per year over 5 years and +9.84% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.

Q: What is the expense ratio of HDFC Multi Asset Allocation Fund?

HDFC Multi Asset Allocation Fund charges an expense ratio of 1.99% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

Q: What are the top holdings of HDFC Multi Asset Allocation Fund?

HDFC Multi Asset Allocation Fund's largest holdings are HDFC Gold Exchange Traded Fund (11.8%), Reliance Industries Ltd. (5.0%), ICICI Bank Ltd. (5.0%), HDFC Bank Ltd. (4.1%) and Bharti Airtel Ltd. (3.0%). Holdings are disclosed monthly and change over time.

Q: How risky is HDFC Multi Asset Allocation Fund?

HDFC Multi Asset Allocation Fund is rated high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 7.6% and its worst peak-to-trough fall in our sample was -27.1%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Q: What does the Sharpe ratio of 0.44 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. HDFC Multi Asset Allocation Fund's 0.44 means it has rewarded its volatility with excess return. Higher is better.

Q: What is the benchmark of HDFC Multi Asset Allocation Fund?

HDFC Multi Asset Allocation Fund is benchmarked against the 65% Nifty 50 TRI + 22.5% Nifty Composite Debt Index+ 10% Domestic Price of Gold+ 2.5% Domestic Price of Silver. Its alpha and beta on this page are measured against that index.

Q: Who manages HDFC Multi Asset Allocation Fund?

HDFC Multi Asset Allocation Fund is managed by Ihab Dalwai, Anil Bamboli, Bhagyesh Kagalkar, Nandita Menezes, Arun Agarwal and Gopal Agrawal at HDFC.

Q: How is HDFC Multi Asset Allocation Fund taxed?

HDFC Multi Asset Allocation Fund is an equity-oriented fund, so its capital gains get concessional rates: short-term gains (units held under 1 year) are taxed at 20%, and long-term gains (held 1 year or more) at 12.5% above a ₹1.25 lakh per-year exemption. These rates apply on redemption and don't add to your income-tax slab.

HDFC Mutual Fund · Best Multi Asset Allocation Mutual Funds

NAV

₹72.36

-0.57% 1D

as of 01 Oct 2026

This is the Regular plan of HDFC Multi Asset Allocation Fund — bought through a distributor, whose commission is paid out of its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.

Compare SIP calculator

Performance

-0.41%CAGR

52-week rangePrev NAV ₹72.77

Latest ₹72.36

Low ₹70.5226th percentile of its 52-week rangeHigh ₹77.53

Scorecard

★★★☆☆3/5 vs 15 of 36 Multi Asset Allocation peers

Performance 60%
Risk 15%
Cost 10%
Downside 15%

How this is computed

Each verdict is computed from this fund's own metrics against its sub-category — the number behind it is shown, not a black-box rating. The stars weight the same ground 60/15/10/15 (performance/risk/cost/downside) across every fund in the peer group. Ranked within Multi Asset Allocation (same plan and option). 15 of the 36 Multi Asset Allocation funds in this cohort carry the full record the stars need, so they are the ones ranked against.

PerformanceBelow avg

3Y CAGR +9.82% · ranks 13 of 15 Multi Asset Allocation funds

RiskLow

Volatility 7.6% vs 10.0% category avg

CostAverage

2.0% expense vs 2.2% category avg

ConsistencyHigh

100% of rolling 3Y windows were positive

Strengths & concerns

Generated from this fund's own numbers against its sub-category — each point names the figure behind it.

Strengths

Less volatile than its Multi Asset Allocation peers (7.6% vs 10.0%)
Consistent — positive in 100% of rolling 3-year windows

Concerns

Trails the Multi Asset Allocation average on 1M/6M/1Y — 1Y by 5.64pp
3-year return (+9.82%) trails the Multi Asset Allocation average (+13.19%)
5-year return (+9.12%) trails the Multi Asset Allocation average (+12.18%)
Ranks #29 of 31 on 1-year return in its Multi Asset Allocation cohort
Weaker risk-adjusted returns — Sharpe 0.44 below the Multi Asset Allocation average of 0.73

Key Metrics

Annual fee charged by the fund, already deducted from NAV

1.99%

Category 2.19%▼0.20%

Portfolio-weighted harmonic mean P/E across the fund's equity holdings

19.08

Category —

Excess return per unit of total volatility (rf = 6.5%)

0.44

Category 0.73▼0.29

Scheme Info

Definitions

Plan

Regular · Growth

Period before units can be redeemed — 3 years for ELSS, none for most open-ended funds

None

In respect of each purchase / switch-in of Units, upto 15% of the units (“the limit”) may be redeemed without any exit load from the date of allotment. However, please note that the Units will be redeemed on First In First Out (FIFO) basis. Any redemption in excess of the above limit shall be subject to the following exit load: - Exit Load of 1.00% is payable if units are redeemed/switched out within 12 months from the date of allotment. - No Exit Load is payable if units are redeemed/switched out after 12 months from the date of allotment.

Up to 1.00%

tiered — see the full terms

Statutory levy on every mutual-fund purchase since 1 Jul 2020 (SEBI / Govt of India) — the same for every scheme

0.005%

SIP Inv.

Allowed

Smallest recurring SIP instalment the scheme accepts

₹100

Smallest one-time (lumpsum) investment the scheme accepts

₹100

65% Nifty 50 TRI + 22.5% Nifty Composite Debt Index+ 10% Domestic Price of Gold+ 2.5% Domestic Price of Silver

Start of our NAV history for this plan. Direct plans begin 1 Jan 2013, so this is the plan's inception — not necessarily the scheme's original launch date.

03 Apr 2006

Period returns (<1Y, absolute — not annualized)

Definitions

Absolute return over the last 1 month (not annualized)

-4.29%

Absolute return over the last 3 months (not annualized)

-2.06%

Absolute return over the last 6 months (not annualized)

+1.00%

Absolute return since 1 Jan of this year (not annualized)

-4.32%

Annualized returns (≥1Y — CAGR)

Definitions

1-year point-to-point return, annualized (CAGR)

-1.00%

3-year annualized return (CAGR)

+9.82%

5-year annualized return (CAGR)

+9.12%

10-year annualized return (CAGR)

+10.03%

Annualized return (CAGR) since the first NAV we hold for this plan — the Inception date under Key metrics. AMFI's history starts in April 2006, so an older scheme is measured from there.

+9.84%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

7.60%

Excess return per unit of total volatility (rf = 6.5%)

0.44

Excess return per unit of downside deviation — upside swings aren't penalized (rf = 6.5%)

0.59

Largest peak-to-trough decline over full history

-27.15%

Benchmark ratios (vs Nifty 50 TRI · 36 monthly returns)

Definitions

Jensen's alpha (annualized): return above what CAPM predicts for the fund's beta vs Nifty 50 TRI

3.26%

Sensitivity to Nifty 50 TRI moves; 1 = moves with the index

0.54

How much of the fund's movement Nifty 50 TRI explains

89.0%

Excess return per unit of beta (market risk)

6.58

Active return over the benchmark per unit of tracking error

0.55

Annualized std dev of fund-minus-benchmark returns

7.04%

Fund's share of benchmark gains in up months (100 = matches index)

68.7%

Fund's share of benchmark losses in down months (lower is better)

34.5%

Computed vs the Nifty 50 TRI over the last 36 complete months — the closest match to this fund's mandate. TRI means dividends reinvested, as they are in the fund's own NAV; ₹ means a US index converted at each day's USD/INR, since the fund is priced in rupees. Needs ~3 years of history; a low R² means the fund tracks the index loosely.

Fund vs category average (Multi Asset Allocation)

Period	Fund	Category avg.	Diff
1M abs	-4.29%	-3.70%	-0.59%
3M abs	-2.06%	-1.80%	-0.26%
6M abs	+1.00%	+3.37%	-2.37%
1Y CAGR	-1.00%	+4.64%	-5.64%
3Y CAGR	+9.82%	+13.19%	-3.37%
5Y CAGR	+9.12%	+12.18%	-3.06%

Category average across peers in Multi Asset Allocation (up to 36 funds with data), same plan and option, excluding this fund. Under-1-year figures are absolute; 1Y and beyond are annualised (CAGR).

Not sure what a figure means? The glossary explains every metric, and the methodology shows the formulas.

Category rank

Vs 36 peers in Multi Asset Allocation

1Y return

-1.00%

Beats 6.7% · rank #29

3Y return

+9.82%

Beats 14.3% · rank #13

5Y return

+9.12%

Beats 14.3% · rank #7

Sharpe

0.44

Beats 21.4% · rank #12

Sortino

0.59

Beats 21.4% · rank #12

Backtest this fund

What a SIP or one-time investment would have grown to over this fund’s real NAV history.

Monthly investment (₹)

Period

Invested

₹6.00L

Current value

₹7.35L

Absolute

+22.42%

XIRR

+8.28%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into HDFC Multi Asset Allocation Fund, valued at the latest NAV. XIRR annualizes for each installment’s timing.

Calendar-year returns

What the fund actually returned in each year, not the smoothed average.

Year	Fund	Nifty 50 TRI	Diff
2026part	-4.32%	-12.85%	+8.53%
2025	+13.21%	+11.97%	+1.24%
2024	+13.49%	+10.16%	+3.33%
2023	+17.98%	+21.69%	-3.71%
2022	+4.34%	+5.68%	-1.34%
2021	+17.91%	+25.49%	-7.58%
2020	+20.88%	+16.57%	+4.31%
2019	+9.34%	+13.43%	-4.09%
2018	-1.90%	+4.40%	-6.30%
2017	+11.83%	+30.12%	-18.29%

January–December, from this fund's NAV history. Absolute return, not annualised. “part” marks a year the fund didn't run end to end — its first year, the current year so far, or one it stopped reporting in; those years show no benchmark comparison.

History points

4,999

Expense ratio

1.99%

Portfolio turnover

25%

Exit load

Portfolio, AUM & scheme details shown from another plan of this scheme (same underlying portfolio).

P/E ratio

19.1

P/B ratio

4.0

Avg market cap

₹5,01,063Cr

P/E & P/B are portfolio-weighted harmonic means across 66 of 74 equity holdings (62% of the portfolio); loss-making companies are excluded.

Taxation

Taxed as equity

This is an equity-oriented fund (≥65% in Indian equities), so gains get the concessional capital-gains rates below — they do not add to your income-tax slab.

Short-term (STCG)

20%

Held under 1 year

Flat, on the whole gain

Long-term (LTCG)

12.5%

Held 1 year or more

On gains above ₹1.25 L per financial year

Applies to capital gains on redemption. Excludes IDCW/dividend tax, STT, surcharge and cess, and pre-2018 equity grandfathering. For research only — consult a tax advisor before filing.

Peer comparison · Multi Asset Allocation

Compare all


HDFC Multi Asset Allocation FundThis fund HDFC · Regular · Growth	★★★☆☆	-1.00%	+9.82%	+9.12%	—	1.99%	—
Quant Multi Asset Allocation Fund quant · Regular · Growth	★★★☆☆	+11.58%	+19.86%	+17.26%	—	2.29%	₹5,474Cr
Nippon India Multi Asset Allocation Fund Nippon India · Regular · Growth	★★★★★	+6.63%	+16.71%	+13.46%	—	1.44%	₹15,069Cr
DSP Multi Asset Allocation Fund DSP · Regular · Growth	★★★★★	+7.28%	+15.92%	—	—	1.59%	₹9,515Cr
Kotak Multi Asset Allocation Fund Kotak Mahindra · Regular · Growth	★★★☆☆	+8.94%	+15.58%	—	—	1.77%	₹13,629Cr
WhiteOak Capital Multi Asset Allocation Fund WhiteOak Capital · Regular · Growth	★★★★★	+7.98%	+15.16%	—	—	1.67%	₹7,308Cr

Market-cap allocation · AMFI bands, Jul 2026

Equity holdings by company size — 100% of the equity sleeve priced.

Large cap78.3%
Mid cap10.5%
Small cap11.3%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity66.63%
Other13.62%
Debt12.17%
Cash & Equivalents5.54%
Real Estate / REITs2.04%

Holds the same stocks as (by portfolio overlap, not by category)

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
HDFC Retirement Fund - Equity HDFC · Retirement Fund	67.5%	★★★★☆	0.92%	+8.11%
HDFC Equity Savings Fund HDFC · Equity Savings	67.4% of 66% equity	★★★☆☆	1.27%	+7.74%
360 ONE ELSS Tax Saver Nifty 50 Index Fund 360 One · Index Funds	63.3%	★★☆☆☆	0.37%	+5.47%
Nippon India Index Fund - Nifty 50 Nippon India · Index Funds	63.2%	★★★☆☆	0.13%	+5.54%
HDFC Nifty 50 Index Fund HDFC · Index Funds	63.2%	★★★☆☆	0.29%	+5.45%
Tata Nifty 50 Index Fund Tata · Index Funds	63.2%	★★★☆☆	0.27%	+5.41%
SBI Nifty Index Fund SBI · Index Funds	63.2%	★★★☆☆	0.23%	+5.46%
UTI Nifty 50 Index Fund UTI · Index Funds	63.2%	★★★☆☆	0.25%	+5.51%

Overlap is the share of each fund's equity book invested in the same stocks, by weight, across the Direct-plan universe — so a fund that is only part equity is labelled as such. ! marks a pair holding more in common than nine pairs in ten of its type, where that type has a measured distribution.

🚩Holdings under NSE surveillance (ASM)

1 holding — 0.29% of the portfolio — sit in stocks NSE currently lists under its Additional Surveillance Measure. ASM is an exchange response to unusual price or volume activity (higher margins, and trade-for-trade settlement at stage II), not a view on the company or on this fund.

Whirlpool of India LimitedShort-term · Stage I0.29%

Source: NSE ASM list, matched to holdings by company name — a holding whose name differs from NSE's spelling may not be matched. BSE's separate list is not covered.

Worst falls, and the wait to get back

How far this fund has dropped from a high, and how long it took to reclaim it.

-27.1%20 Feb 2020 → 23 Mar 2020
Fell over 32 days, back to the old high on 23 Jul 2020 — 4 months under water after the low.
-9.4%31 Aug 2018 → 26 Oct 2018
Fell over 2 months, back to the old high on 01 Apr 2019 — 5 months under water after the low.
-9.0%29 Jan 2026 → 23 Mar 2026
Still below that high — 2 months down, and no recovery yet.

Measured on this fund’s own NAV history, peak to trough to the day it regained the peak. Falls shallower than 5% are left out. A recovery date is when the NAV got back, not when any particular investor did — that depends on when they bought.

AMC Profile

HDFC Mutual Fund is run by HDFC Asset Management, part of the HDFC Bank group and listed on the exchanges since 2018. It has been in business since 1999, absorbed Zurich India's schemes in 2003, and is consistently among the two or three largest fund houses by assets.

Launched

09 Dec 1999

Total AUM

₹9,35,100Cr+0.8% QoQ

Avg AUM · April - June 2026

Website

hdfcfund.com

Fund Managers

IDIhab DalwaiManaging since 11 Sep 2026

Total experience

15 years

ABAnil BamboliManaging since 17 Aug 2005

Role

Senior Fund Manager - Fixed Income

Education

• B. Com, Grad • CWA, • MMS (Finance), • CFA (CFA Institute)

Experience

Collectively over 31 years experience in Fund Management and Research, Fixed Income dealing • July 25, 2003 till Date: HDFC Asset Management Company Limited

Funds managed (12)

All schemes Anil Bamboli runs →

BKBhagyesh KagalkarManaging since 02 Feb 2022

Education

• B.E (Production) Collectively • MMS (Finance)

Experience

over 31 years experience in Equity Research, investments and Finance • January 3, 2007 till Date: HDFC Asset Management Company Limited

Funds managed (20)

All schemes Bhagyesh Kagalkar runs →

NMNandita MenezesManaging since 29 Mar 2025

Education

• B.Com (University of Mumbai)

Experience

Collectively over 3 years’ experience in Equity Dealing and auditing • December 29, 2021 till Date: HDFC Asset Management Company Limited • April 26, 2020 till March 5, 2021: S.R. Batliboi & Co LLP Last Position held: Executive - Assurance

Funds managed (29)

All schemes Nandita Menezes runs →

AAArun AgarwalManaging since 24 Aug 2020

Education

• B.Com • Chartered Accountant

Experience

Collectively over 27 years’ experience in equity, debt and derivative dealing, fund management, internal audit and treasury operations. • September 16, 2010 till Date: HDFC Asset Management Company Limited

Funds managed (43)

All schemes Arun Agarwal runs →

GAGopal AgrawalManaging since 01 Sep 2026

Education

• B.E., • MBM • B.E (Jadavpur University)

Experience

Collectively over 22 years experience in Fund Management and 2.5 years in Equity Research • July 9, 2020 till Date: HDFC Asset Management Company Limited • July 23, 2018 till June 30, 2020: DSP Investment Managers Private Limited Last Position Held: Senior Fund Manager and Head-Macro strategy • April 03, 2017 till July 16, 2018: TATA Asset Management Company Limited Last Position Held: CIO-Equity • October 01, 2007 till March 31, 2017: Mirae Asset Global Investments (India) Pvt. Ltd.. Last Position Held: CIO-Equity and Chief Strategist

Funds managed (3)

All schemes Gopal Agrawal runs →

Fund managers from the AMC's filed Scheme Summary — its most recent filing for this scheme. Benchmark and dealing terms from it and this scheme's SEBI-filed Scheme Information Document on AMFI. Each manager's qualifications and role are reconciled across every filing this fund house makes for them, including its Statement of Additional Information. Total AUM via AMFI.

Explore from here

Fund managers

Anil Bamboli Bhagyesh Kagalkar Nandita Menezes Arun Agarwal Gopal Agrawal

Top holdings

Reliance Industries Ltd.ICICI Bank Ltd.HDFC Bank Ltd.Bharti Airtel Ltd.Axis Bank Ltd.Kotak Mahindra Bank Limited NTPC Limited Sun Pharmaceutical Industries Ltd.Maruti Suzuki India Limited Divis Laboratories Ltd.Infosys Limited Tata Consultancy Services Ltd.

HDFC in the news

Headlines about the fund house, not this scheme in particular — highlights only; tap through to read the full story at the source.

Run SIP calculator Add to compare

Returns and risk are computed from NAV history and may differ slightly from other portals due to methodology (rolling vs point-to-point, dividend treatment). For research only — not investment advice.

About Multi Asset Allocation funds

Multi asset funds spread money across at least three asset classes — typically equity, debt and gold — each at 10% or more. The mix aims to reduce the impact of any one asset having a bad year.

Frequently asked questions

What is the NAV of HDFC Multi Asset Allocation Fund?

As of 01 Oct 2026, the NAV of HDFC Multi Asset Allocation Fund is ₹72.36 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has HDFC Multi Asset Allocation Fund delivered?

HDFC Multi Asset Allocation Fund has returned -1.00% over 1 year, +9.82% per year over 3 years, +9.12% per year over 5 years and +9.84% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.

What is the expense ratio of HDFC Multi Asset Allocation Fund?

HDFC Multi Asset Allocation Fund charges an expense ratio of 1.99% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

What are the top holdings of HDFC Multi Asset Allocation Fund?

HDFC Multi Asset Allocation Fund's largest holdings are HDFC Gold Exchange Traded Fund (11.8%), Reliance Industries Ltd. (5.0%), ICICI Bank Ltd. (5.0%), HDFC Bank Ltd. (4.1%) and Bharti Airtel Ltd. (3.0%). Holdings are disclosed monthly and change over time.

How risky is HDFC Multi Asset Allocation Fund?

HDFC Multi Asset Allocation Fund is rated high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 7.6% and its worst peak-to-trough fall in our sample was -27.1%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What does the Sharpe ratio of 0.44 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. HDFC Multi Asset Allocation Fund's 0.44 means it has rewarded its volatility with excess return. Higher is better.

What is the benchmark of HDFC Multi Asset Allocation Fund?

HDFC Multi Asset Allocation Fund is benchmarked against the 65% Nifty 50 TRI + 22.5% Nifty Composite Debt Index+ 10% Domestic Price of Gold+ 2.5% Domestic Price of Silver. Its alpha and beta on this page are measured against that index.

Who manages HDFC Multi Asset Allocation Fund?

HDFC Multi Asset Allocation Fund is managed by Ihab Dalwai, Anil Bamboli, Bhagyesh Kagalkar, Nandita Menezes, Arun Agarwal and Gopal Agrawal at HDFC.

How is HDFC Multi Asset Allocation Fund taxed?

HDFC Multi Asset Allocation Fund is an equity-oriented fund, so its capital gains get concessional rates: short-term gains (units held under 1 year) are taxed at 20%, and long-term gains (held 1 year or more) at 12.5% above a ₹1.25 lakh per-year exemption. These rates apply on redemption and don't add to your income-tax slab.