HybridMulti Asset AllocationDirectGrowthHigh

Axis Multi Asset Allocation Fund

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

As of 05 Oct 2026, the NAV of Axis Multi Asset Allocation Fund is ₹51.40 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

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

Axis Multi Asset Allocation Fund has returned +5.66% over 1 year, +13.23% per year over 3 years, +8.47% per year over 5 years and +10.68% 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 Axis Multi Asset Allocation Fund?

Axis Multi Asset Allocation Fund charges an expense ratio of 1.20% 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 Axis Multi Asset Allocation Fund?

Axis Multi Asset Allocation Fund's largest holdings are Axis Gold ETF (12.3%), ICICI Bank Limited (5.8%), HDFC Bank Limited (3.6%), Axis Silver ETF (2.6%) and Larsen & Toubro Limited (2.5%). Holdings are disclosed monthly and change over time.

Q: How risky is Axis Multi Asset Allocation Fund?

Axis Multi Asset Allocation Fund is rated high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 10.7% and its worst peak-to-trough fall in our sample was -27.4%. 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 0.63 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Axis Multi Asset Allocation Fund's 0.63 means it has rewarded its volatility with excess return. Higher is better.

Q: Who manages Axis Multi Asset Allocation Fund?

Axis Multi Asset Allocation Fund is managed by Ashish Naik, Devang Shah, Hardik Shah, Aditya Pagaria, Pratik Tibrewal, Krishnaa Narayan and Akhil Thakker at Axis.

Q: How is Axis Multi Asset Allocation Fund taxed?

Axis 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.

Axis Mutual Fund · Best Multi Asset Allocation Mutual Funds

NAV

₹51.40

+0.37% 1D

as of 05 Oct 2026

This is the Direct plan of Axis Multi Asset Allocation Fund — bought from the fund house, with no distributor commission in its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.

Compare SIP calculator

Performance

+4.89%absolute

52-week rangePrev NAV ₹51.21

Latest ₹51.40

Low ₹47.9053rd percentile of its 52-week rangeHigh ₹54.51

Scorecard

★★☆☆☆2/5 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.

PerformanceAverage

3Y CAGR +13.23% · ranks 10 of 15 Multi Asset Allocation funds

RiskModerate

Volatility 10.7% vs 9.9% category avg

CostHigh

1.2% expense vs 0.9% 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

Consistent — positive in 100% of rolling 3-year windows

Concerns

3-year return (+13.23%) trails the Multi Asset Allocation average (+14.58%)
5-year return (+8.47%) trails the Multi Asset Allocation average (+13.66%)
Weaker risk-adjusted returns — Sharpe 0.63 below the Multi Asset Allocation average of 0.89
High expense ratio (1.20%) vs the Multi Asset Allocation average of 0.89%

Key Metrics

Annual fee charged by the fund, already deducted from NAV

1.20%

Category 0.89%▲0.31%

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

21.61

Category 21.94▼0.33

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

0.63

Category 0.89▼0.26

Scheme Info

Definitions

Plan

Direct · Growth

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

None

emed/switch out within 12 months from the date of allotment- For 10% of investment : Nil- For remaining investment : 1% If redeemed/switch out after 12 months from the date of allotment: Nil

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

Benchmark

—

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.

02 Jan 2013

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

Definitions

Absolute return over the last 1 month (not annualized)

-3.81%

Absolute return over the last 3 months (not annualized)

-1.98%

Absolute return over the last 6 months (not annualized)

+5.84%

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

-0.01%

Annualized returns (≥1Y — CAGR)

Definitions

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

+5.66%

3-year annualized return (CAGR)

+13.23%

5-year annualized return (CAGR)

+8.47%

10-year annualized return (CAGR)

+11.39%

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.

+10.68%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

10.72%

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

0.63

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

0.84

Largest peak-to-trough decline over full history

-27.42%

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

6.24%

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

0.66

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

82.4%

Excess return per unit of beta (market risk)

10.24

Active return over the benchmark per unit of tracking error

1.08

Annualized std dev of fund-minus-benchmark returns

6.49%

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

83.7%

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

36.8%

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	-3.81%	-3.37%	-0.44%
3M abs	-1.98%	-1.94%	-0.04%
6M abs	+5.84%	+4.47%	+1.37%
1Y CAGR	+5.66%	+5.80%	-0.14%
3Y CAGR	+13.23%	+14.58%	-1.35%
5Y CAGR	+8.47%	+13.66%	-5.19%

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

+5.66%

Beats 43.3% · rank #18

3Y return

+13.23%

Beats 35.7% · rank #10

5Y return

+8.47%

Beats 0% · rank #8

Sharpe

0.63

Beats 21.4% · rank #12

Sortino

0.84

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

₹7.80L

Absolute

+29.93%

XIRR

+10.74%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into Axis 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	-0.01%	-12.85%	+12.84%
2025	+16.47%	+11.97%	+4.50%
2024	+16.48%	+10.16%	+6.32%
2023	+14.36%	+21.69%	-7.33%
2022	-4.31%	+5.68%	-9.99%
2021	+24.87%	+25.49%	-0.62%
2020	+19.69%	+16.57%	+3.12%
2019	+16.59%	+13.43%	+3.16%
2018	+2.89%	+4.40%	-1.51%
2017	+17.62%	+30.12%	-12.50%

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

3,391

Expense ratio

1.20%

AUM

₹2,266Cr

Exit load

emed/switch out within 12 months from the date of allotment- For 10% of investment : Nil- For remaining investment : 1% If redeemed/switch out after 12 months from the date of allotment: Nil

P/E ratio

21.6

P/B ratio

4.5

Avg market cap

₹4,12,620Cr

P/E & P/B are portfolio-weighted harmonic means across 67 of 81 equity holdings (59% 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


Axis Multi Asset Allocation FundThis fund Axis · Direct · Growth	★★☆☆☆	+5.66%	+13.23%	+8.47%	21.61	1.20%	₹2,266Cr
Quant Multi Asset Allocation Fund quant · Direct · Growth	★★★★☆	+13.21%	+22.38%	+18.73%	21.42	1.13%	₹5,474Cr
Nippon India Multi Asset Allocation Fund Nippon India · Direct · Growth	★★★★★	+7.75%	+18.08%	+14.88%	19.78	0.47%	₹15,069Cr
DSP Multi Asset Allocation Fund DSP · Direct · Growth	★★★★★	+8.47%	+17.42%	—	17.06	0.63%	₹9,515Cr
Kotak Multi Asset Allocation Fund Kotak Mahindra · Direct · Growth	★★★☆☆	+10.24%	+17.13%	—	15.50	0.64%	₹13,629Cr
WhiteOak Capital Multi Asset Allocation Fund WhiteOak Capital · Direct · Growth	★★★★☆	+9.19%	+16.52%	—	23.28	0.65%	₹7,308Cr

Market-cap allocation · AMFI bands, Jul 2026

Equity holdings by company size — 94% of the equity sleeve priced.

Large cap66.1%
Mid cap20.8%
Small cap13.2%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity70.12%
Other14.88%
Debt10.10%
Cash & Equivalents4.93%

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

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
Axis ELSS- Tax Saver Fund Axis · ELSS	58.0%	★★★☆☆	1.05%	+9.34%
Canara Robeco Large Cap Fund Canara Robeco · Large Cap Fund	54.6%	★★★★☆	0.63%	+9.16%
Axis Balanced Advantage Fund Axis · Dynamic Asset Allocation or Balanced Advantage	54.0% of 76% equity	★★★★☆	1.07%	+10.83%
Canara Robeco Flexi Cap Fund Canara Robeco · Flexi Cap Fund	52.4%	★★★☆☆	0.69%	+10.64%
Aditya Birla Sun Life Large Cap Fund Aditya Birla Sun Life · Large Cap Fund	52.1%	★★★☆☆	1.04%	+8.50%
Nippon India ETF Nifty 100 Nippon India · Other ETFs	51.9%	—	0.51%	+7.29%
Axis Nifty 100 Index Fund Axis · Index Funds	51.8%	★★★★☆	0.26%	+7.57%
Bandhan Nifty 100 Index Fund Bandhan · Index Funds	51.8%	★★★★☆	0.18%	+7.65%

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 — 0.50% 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.

Welspun Corp LimitedLong-term · Stage I0.50%

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.

-27.4%13 Feb 2020 → 23 Mar 2020
Fell over 39 days, back to the old high on 09 Oct 2020 — 7 months under water after the low.
-17.4%17 Jan 2022 → 17 Jun 2022
Fell over 5 months, back to the old high on 08 Sep 2023 — 15 months under water after the low.
-12.5%31 Aug 2018 → 26 Oct 2018
Fell over 2 months, back to the old high on 20 May 2019 — 7 months under water after the low.

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.

Fund size over time

Quarterly average AUM · AMFI

₹2,266Cr

April - June 2026

+9%

since January - March 2026

+₹255.62Cr

est. net flow, last quarter

At or near its largest, ₹2,266Cr in April - June 2026. Size matters most where the mandate is narrow — a large small-cap or a very large flexi-cap book is harder to move without moving the price.

Net flow is an estimate: AMFI publishes a quarterly average AUM, not a closing balance, and it covers every plan and option of this scheme together, so it is a read on direction and rough size rather than a cash-flow statement.

AMC Profile

Axis Mutual Fund is run by Axis Asset Management, majority-owned by Axis Bank with the UK's Schroders holding the minority stake. It launched its first scheme in 2009 and grew quickly on a growth-oriented, quality-biased equity style.

Launched

03 Sep 2009

Total AUM

₹3,69,030Cr+2.6% QoQ

Avg AUM · April - June 2026

Website

axismf.com

Fund Managers

ANAshish NaikManaging since 22 Jun 2016

Role

Fund Manager

Education

(Mumbai University), PGDBM (XLRI), Management FRM (GARP)

Experience

22 years, his last 10 • Equity Analyst - Axis Asset Management Company Ltd. (August 2009 to June 21, 2016) 27 • Business Analyst - Goldman Sachs India Securities Ltd. (April 2007 to July 2009) Software Engineer - Hexaware Technologies Ltd. (August 2003 to May 2005)

Funds managed (15)

All schemes Ashish Naik runs →

DSDevang ShahManaging since 05 Apr 2024

Education

B. Com, ACA

Experience

Manager in the last 10 years management " 22 years, his last

Funds managed (18)

All schemes Devang Shah runs →

HSHardik ShahManaging since 05 Apr 2024

Role

Fund Manager – Fixed Income

Education

MBA (Finance), B.E(I.T)

Experience

15 years, his last 10 • Axis Asset Management Company Ltd (January 2022 – Present) • SBI LIFE Insurance Co. Ltd. (June 2020 – January 2022) • Nippon India Asset Management Co. Ltd. ( erst. Reliance Mutual Fund) ( July 2013 – June 2020) Quantum Mutual Fund (Nov 2009 – July 2013) 28

Funds managed (13)

All schemes Hardik Shah runs →

APAditya PagariaManaging since 01 Jun 2024

Role

Fund Manager - Fixed Income

Education

Bachelor in Management Studies, Post Graduate Diploma in Business Management

Experience

Total number years of experience: 18 years, his last 10 are as follows: • Axis Asset Management Company (Fund Manager 12 Fixed Income) (August 1, 2016 till date) • ICICI Prudential Asset Management Company (Fund Manager Fixed Income) (Nov. 30, 2011 - July 26, 2016) • (Operations)- (May 03, 2007 - Nov. 29, 2011)

Funds managed (17)

All schemes Aditya Pagaria runs →

PTPratik TibrewalManaging since 01 Feb 2025

Role

Fund Manager – Commodities & Assistant Dealer – Fixed Income

Education

B.com, LLB (Gen), MBA (Finance)

Experience

13 years, his last 10 are as follows: • Axis Asset Management Company Limited (Fund Manager – Commodities & Assistant Dealer – Fixed Income for Mutual Fund) (February 01, 2025 till date) • Axis Asset Management Company Limited (Fund Manager – Debt PMS) (June 01, 2024 to January 31, 2025) • Axis Asset Management Company Limited (Fund Manager – Commodities Mutual Fund) (June 01, 2022 to May 31, 2024) • Inditrade Capital Limited (August 31, 2018 to May 31, 2022) • Edelweiss Asset Management Limited (January 31, 2018 to August 30, 2018) • Inditrade Capital Limited (November 16, 2016 to January 30, 2018) • Edelweiss Commodities trading Ltd. • (July 12, 2012 to November 15, 2016)

Funds managed (4)

All schemes Pratik Tibrewal runs →

KNKrishnaa NarayanManaging since 16 Dec 2024

Role

Fund Manager – Foreign Securities

Education

Chartered Accountant and Bachelor of Commerce (Accounts & Finance)

Experience

6 years • Axis Asset Managem ent Company Ltd. [Fund Manager - (For Foreign Securities)] - March 01, 2024 till date • Axis Asset Managem ent Company Ltd. (Junior Research Analyst – Equity) – May 12, 2021 – February 29, 2024 • Price Waterhous e & Co LLP - April 22, 2019 – May 07, 2021 of the Fund Manager

Funds managed (20)

All schemes Krishnaa Narayan runs →

ATAkhil ThakkerStart date not disclosed

Experience

15 years, his last 10 years’ experience are as follows: • Axis Asset Management Company Ltd. (Credit Analyst - Fixed Income) • CRISIL Ltd. (Credit Risk Assessment) • CARE Ratings Ltd. (Credit Risk Assessment)

Funds managed (1)

Axis Credit Risk Fund

All schemes Akhil Thakker 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

Ashish Naik Devang Shah Hardik Shah Aditya Pagaria Pratik Tibrewal Krishnaa Narayan

Top holdings

ICICI Bank Limited HDFC Bank Limited Larsen & Toubro Limited Axis Bank Limited Bharti Airtel Limited Reliance Industries Limited State Bank of India Mahindra & Mahindra Limited Tata Consultancy Services Limited Bajaj Finance Limited Kotak Mahindra Bank Limited Cube Highways Trust-InvIT Fund

Axis 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.

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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 Axis Multi Asset Allocation Fund?

As of 05 Oct 2026, the NAV of Axis Multi Asset Allocation Fund is ₹51.40 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has Axis Multi Asset Allocation Fund delivered?

Axis Multi Asset Allocation Fund has returned +5.66% over 1 year, +13.23% per year over 3 years, +8.47% per year over 5 years and +10.68% 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 Axis Multi Asset Allocation Fund?

Axis Multi Asset Allocation Fund charges an expense ratio of 1.20% 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 Axis Multi Asset Allocation Fund?

Axis Multi Asset Allocation Fund's largest holdings are Axis Gold ETF (12.3%), ICICI Bank Limited (5.8%), HDFC Bank Limited (3.6%), Axis Silver ETF (2.6%) and Larsen & Toubro Limited (2.5%). Holdings are disclosed monthly and change over time.

How risky is Axis Multi Asset Allocation Fund?

Axis Multi Asset Allocation Fund is rated high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 10.7% and its worst peak-to-trough fall in our sample was -27.4%. 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 0.63 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Axis Multi Asset Allocation Fund's 0.63 means it has rewarded its volatility with excess return. Higher is better.

Who manages Axis Multi Asset Allocation Fund?

Axis Multi Asset Allocation Fund is managed by Ashish Naik, Devang Shah, Hardik Shah, Aditya Pagaria, Pratik Tibrewal, Krishnaa Narayan and Akhil Thakker at Axis.

How is Axis Multi Asset Allocation Fund taxed?

Axis 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.