EquityMulti Cap FundRegularGrowthVery High

SBI MultiCap Fund

Q: What is the NAV of SBI MultiCap Fund?

As of 05 Oct 2026, the NAV of SBI MultiCap Fund is ₹16.58 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has SBI MultiCap Fund delivered?

SBI MultiCap Fund has returned -3.14% over 1 year, +11.19% per year over 3 years and +11.29% 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 SBI MultiCap Fund?

SBI MultiCap Fund charges an expense ratio of 1.87% 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 SBI MultiCap Fund?

SBI MultiCap Fund's largest holdings are ICICI Bank Ltd. (4.2%), Adani Enterprises Ltd. (3.4%), Adani Power Ltd. (3.4%), K.P.R. Mill Ltd. (3.4%) and Divi's Laboratories Ltd. (3.3%). Holdings are disclosed monthly and change over time.

Q: How risky is SBI MultiCap Fund?

SBI MultiCap Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 13.0% and its worst peak-to-trough fall in our sample was -15.6%. 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 0.36 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. SBI MultiCap Fund's 0.36 means it has rewarded its volatility with excess return. Higher is better.

Q: What is the benchmark of SBI MultiCap Fund?

SBI MultiCap Fund is benchmarked against the NIFTY 500 Multicap 50:25:25 TRI. Its alpha and beta on this page are measured against that index.

Q: Who manages SBI MultiCap Fund?

SBI MultiCap Fund is managed by R Srinivasan and Saurabh Pant at SBI.

Q: How is SBI MultiCap Fund taxed?

SBI MultiCap 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.

SBI Mutual Fund · Best Multi Cap Mutual Funds

NAV

₹16.58

+0.48% 1D

as of 05 Oct 2026

This is the Regular plan of SBI MultiCap 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

-3.31%absolute

52-week rangePrev NAV ₹16.50

Latest ₹16.58

Low ₹14.8863rd percentile of its 52-week rangeHigh ₹17.60

Scorecard

★★★★☆4/5 vs 22 of 32 Multi Cap Fund 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 Cap Fund (same plan and option). 22 of the 32 Multi Cap Funds in this cohort carry the full record the stars need, so they are the ones ranked against.

PerformanceAverage

3Y CAGR +11.19% · ranks 14 of 22 Multi Cap Funds

RiskLow

Volatility 13.0% vs 15.0% category avg

CostLow

1.9% expense vs 2.4% 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 Cap Fund peers (13.0% vs 15.0%)
Low expense ratio (1.87%) vs the Multi Cap Fund average of 2.41%
Consistent — positive in 100% of rolling 3-year windows

Concerns

Trails the Multi Cap Fund average on 3M/6M/1Y — 1Y by 6.07pp
3-year return (+11.19%) trails the Multi Cap Fund average (+12.56%)
Ranks #29 of 32 on 1-year return in its Multi Cap Fund cohort

Key Metrics

Annual fee charged by the fund, already deducted from NAV

1.87%

Category 2.41%▼0.54%

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

28.30

Category —

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

0.36

Category 0.40▼0.04

Scheme Info

Definitions

Plan

Regular · Growth

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

None

Exit Load

—

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

₹500

Smallest one-time (lumpsum) investment the scheme accepts

₹5,000

NIFTY 500 Multicap 50:25:25 TRI

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.

15 Mar 2022

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

Definitions

Absolute return over the last 1 month (not annualized)

-4.60%

Absolute return over the last 3 months (not annualized)

-3.13%

Absolute return over the last 6 months (not annualized)

+9.36%

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

-2.29%

Annualized returns (≥1Y — CAGR)

Definitions

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

-3.14%

3-year annualized return (CAGR)

+11.19%

5-year annualized return (CAGR)

—

10-year annualized return (CAGR)

—

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.

+11.29%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

13.00%

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

0.36

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

0.49

Largest peak-to-trough decline over full history

-15.60%

Benchmark ratios (vs Nifty 500 TRI · 36 monthly returns)

Definitions

Jensen's alpha (annualized): return above what CAPM predicts for the fund's beta vs Nifty 500 TRI

1.76%

Sensitivity to Nifty 500 TRI moves; 1 = moves with the index

0.87

How much of the fund's movement Nifty 500 TRI explains

90.9%

Excess return per unit of beta (market risk)

5.48

Active return over the benchmark per unit of tracking error

0.33

Annualized std dev of fund-minus-benchmark returns

4.80%

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

93.7%

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

81.8%

Computed vs the Nifty 500 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 Cap Fund)

Period	Fund	Category avg.	Diff
1M abs	-4.60%	-4.31%	-0.29%
3M abs	-3.13%	-1.68%	-1.45%
6M abs	+9.36%	+13.62%	-4.26%
1Y CAGR	-3.14%	+2.93%	-6.07%
3Y CAGR	+11.19%	+12.56%	-1.37%
5Y CAGR	—	+11.64%	—

Category average across peers in Multi Cap Fund (up to 32 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 32 peers in Multi Cap Fund

1Y return

-3.14%

Beats 9.7% · rank #29

3Y return

+11.19%

Beats 38.1% · rank #14

5Y return

—

Sharpe

0.36

Beats 38.1% · rank #14

Sortino

0.49

Beats 38.1% · rank #14

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

₹3.60L

Current value

₹3.79L

Absolute

+5.32%

XIRR

+3.58%

Value vs. invested

ValueInvested

36 monthly installments of ₹10,000 into SBI MultiCap 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 500 TRI	Diff
2026part	-2.29%	-7.18%	+4.89%
2025	+2.98%	+7.94%	-4.96%
2024	+25.98%	+16.43%	+9.55%
2023	+22.48%	+27.43%	-4.95%
2022part	+4.90%	—	—

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

1,131

Expense ratio

1.87%

AUM

₹22,997Cr

Portfolio turnover

57%

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

P/E ratio

28.3

P/B ratio

5.5

Avg market cap

₹1,82,460Cr

P/E & P/B are portfolio-weighted harmonic means across 59 of 68 equity holdings (91% 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 Cap Fund

Compare all


SBI MultiCap FundThis fund SBI · Regular · Growth	★★★★☆	-3.14%	+11.19%	—	—	1.87%	₹22,997Cr
Axis Multicap Fund Axis · Regular · Growth	★★★★★	+6.56%	+17.24%	—	—	1.98%	₹9,775Cr
HSBC Multi Cap Fund HSBC · Regular · Growth	★★★★★	+5.42%	+15.84%	—	—	2.03%	₹5,538Cr
WhiteOak Capital Multi Cap Fund WhiteOak Capital · Regular · Growth	★★★★☆	+3.03%	+15.71%	—	—	2.21%	₹3,513Cr
Bank of India Multi Cap Fund Bank of India · Regular · Growth	★★★☆☆	+8.28%	+15.36%	—	—	2.48%	₹1,091Cr
LIC MF Multi Cap Fund LIC · Regular · Growth	★★★★☆	+3.98%	+15.19%	—	—	2.14%	₹1,895Cr

Market-cap allocation · AMFI bands, Jul 2026

Equity holdings by company size — 99% of the equity sleeve priced.

Large cap37.8%
Mid cap24.2%
Small cap37.9%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity99.02%
Cash & Equivalents0.90%
Debt0.08%

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

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
SBI Retirement Benefit Fund - Aggressive Hybrid SBI · Retirement Fund	34.6% of 79% equity	★★★★☆	1.18%	+8.82%
SBI Retirement Benefit Fund - Conservative Hybrid SBI · Retirement Fund	34.6% of 39% equity	★★☆☆☆	1.27%	+6.63%
SBI Retirement Benefit Fund - Aggressive SBI · Retirement Fund	34.3%	★★★☆☆	1.13%	+7.93%
SBI Retirement Benefit Fund - Conservative SBI · Retirement Fund	34.3% of 20% equity	★★☆☆☆	0.98%	+6.41%
SBI Aggressive Hybrid Fund SBI · Aggressive Hybrid Fund	32.1% of 74% equity	★★★★☆	0.76%	+11.46%
SBI ESG Exclusionary Strategy Fund SBI · Sectoral/ Thematic	31.1%	★★☆☆☆	1.49%	+7.79%
Bajaj Finserv Large & Mid Cap Fund Bajaj Finserv · Large & Mid Cap Fund	30.0%	★★☆☆☆	1.16%	—
SBI Large & Midcap Fund SBI · Large & Mid Cap Fund	29.6%	★★★☆☆	0.86%	+11.28%

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 — 1.22% 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.

Rubicon Research LimitedLong-term · Stage I1.22%

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.

-15.6%23 Jul 2025 → 31 Mar 2026
Still below that high — 8 months down, and no recovery yet.
-15.0%27 Sep 2024 → 28 Feb 2025
Fell over 5 months, back to the old high on 04 Jul 2025 — 4 months under water after the low.
-12.9%05 Apr 2022 → 20 Jun 2022
Fell over 2 months, back to the old high on 01 Aug 2022 — 42 days 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

₹22,997Cr

April - June 2026

+1%

since January - March 2026

+₹472.05Cr

est. net flow, last quarter

At or near its largest, ₹22,997Cr 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

SBI Mutual Fund is a joint venture between the State Bank of India and Amundi of France, and was set up in 1987 as the first fund house in India outside UTI. It is the largest by assets, helped by managing a share of the EPFO's ETF investments.

Launched

28 Jun 1987

Total AUM

₹12,57,352Cr+0.7% QoQ

Avg AUM · April - June 2026

Website

sbimf.com

Fund Managers

RSR SrinivasanStart date not disclosed

Role

Chief Investment Officer Equity

Education

M.Com & MFM

Experience

Experience of more than 30 years in equities. Prior to joining SBI Funds Management Ltd., Srinivasan was with Future Capital Holdings, the erstwhile asset management and financial services entity of the Future Group, where he headed ‘Public Markets’. Prior to that, he has worked with several organizations including Principal PNB AMC, Imperial Investment Advisors (associate of Oppenheimer & Co), Indosuez W. I. Carr Securities, Motilal Oswal Securities, Sunidhi Consultancy and Capital Market Publishers. Presently, Srinivasan is the Chief Investment Officer – Equity and Fund Manager for SBI Multicap Fund, SBI Focused Equity Fund, SBI Small cap Fund, SBI Equity Hybrid Fund (equity portion), SBI Magnum Children's Benefit Fund - Savings Plan (equity portion), SBI Magnum Children's Benefit Fund - Investment Plan (equity portion).

Funds managed (6)

All schemes R Srinivasan runs →

SPSaurabh PantStart date not disclosed

Role

Fund Manager

Education

B.Com, MBE, C.F.A(USA) Level III candidate

Experience

Mr. Saurabh has over 15 years experience in Indian capital markets in the capacity of research analyst. He joined SBI Funds Management Ltd in May 2007 as Research Analyst. He is currently managing SBI Large & Midcap Fund, SBI Multicap Fund, SBI Large Cap Fund, and SBI Conservative Hybrid Fund (equity portion).

Funds managed (3)

All schemes Saurabh Pant runs →

Fund manager, benchmark and dealing terms from 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

R Srinivasan Saurabh Pant

Top holdings

ICICI Bank Ltd.Adani Enterprises Ltd.Adani Power Ltd.K.P.R. Mill Ltd.Divi's Laboratories Ltd.HDFC Bank Ltd.Kotak Mahindra Bank Ltd.Aether Industries Ltd.Jupiter Life Line Hospitals Ltd.Paradeep Phosphates Ltd.Berger Paints India Ltd.Jubilant Foodworks Ltd.

SBI 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 Cap funds

Multi cap funds must hold at least 25% each in large, mid and small-cap stocks at all times. The fixed minimums give more mid- and small-cap exposure than a flexi cap, and usually more volatility.

Frequently asked questions

What is the NAV of SBI MultiCap Fund?

As of 05 Oct 2026, the NAV of SBI MultiCap Fund is ₹16.58 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has SBI MultiCap Fund delivered?

SBI MultiCap Fund has returned -3.14% over 1 year, +11.19% per year over 3 years and +11.29% 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 SBI MultiCap Fund?

SBI MultiCap Fund charges an expense ratio of 1.87% 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 SBI MultiCap Fund?

SBI MultiCap Fund's largest holdings are ICICI Bank Ltd. (4.2%), Adani Enterprises Ltd. (3.4%), Adani Power Ltd. (3.4%), K.P.R. Mill Ltd. (3.4%) and Divi's Laboratories Ltd. (3.3%). Holdings are disclosed monthly and change over time.

How risky is SBI MultiCap Fund?

SBI MultiCap Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 13.0% and its worst peak-to-trough fall in our sample was -15.6%. 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 0.36 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. SBI MultiCap Fund's 0.36 means it has rewarded its volatility with excess return. Higher is better.

What is the benchmark of SBI MultiCap Fund?

SBI MultiCap Fund is benchmarked against the NIFTY 500 Multicap 50:25:25 TRI. Its alpha and beta on this page are measured against that index.

Who manages SBI MultiCap Fund?

SBI MultiCap Fund is managed by R Srinivasan and Saurabh Pant at SBI.

How is SBI MultiCap Fund taxed?

SBI MultiCap 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.