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DSP Multi Asset Allocation Fund

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

As of 01 Oct 2026, the NAV of DSP Multi Asset Allocation Fund is ₹15.43 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

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

DSP Multi Asset Allocation Fund has returned +8.42% over 1 year, +15.53% per year over 3 years and +15.53% 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 DSP Multi Asset Allocation Fund?

DSP Multi Asset Allocation Fund charges an expense ratio of 0.63% 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 DSP Multi Asset Allocation Fund?

DSP Multi Asset Allocation Fund's largest holdings are DSP Gold ETF (11.7%), DSP Nifty 50 Equal Wieght ETF (5.6%), 6.90% GOI 15042065 (4.0%), HDFC Bank Limited (3.5%) and Axis Bank Limited (3.1%). Holdings are disclosed monthly and change over time.

Q: How risky is DSP Multi Asset Allocation Fund?

DSP Multi Asset Allocation Fund is rated high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 9.5% and its worst peak-to-trough fall in our sample was -9.7%. 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 0.95 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. DSP Multi Asset Allocation Fund's 0.95 means it has rewarded its volatility with excess return. Higher is better.

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

DSP Multi Asset Allocation Fund is benchmarked against the 40% NIFTY500 TRI. Its alpha and beta on this page are measured against that index.

Q: Who manages DSP Multi Asset Allocation Fund?

DSP Multi Asset Allocation Fund is managed by Shantanu Godambe, Aparna Karnik and Ravi Gehani at DSP.

Q: How is DSP Multi Asset Allocation Fund taxed?

DSP 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.

DSP Mutual Fund · Best Multi Asset Allocation Mutual Funds

NAV

₹15.43

-0.50% 1D

as of 01 Oct 2026

This is the Direct plan of DSP Multi Asset Allocation Fund — bought from the fund house, with no distributor commission in its expense ratio. Income is distributed, which is why this NAV sits below the growth plan of the same fund.

Compare SIP calculator

This is the IDCW (dividend) option — it pays its earnings out as dividends rather than reinvesting them, so every payout steps the NAV down and the return figures below leave those payouts out. Your actual return was higher by whatever was distributed. That’s expected for a payout plan, not missing data.

View the Growth plan for compounded returns (+17.42% 3Y CAGR)

Performance

+9.31%CAGR

52-week rangePrev NAV ₹15.51

Latest ₹15.43

Low ₹14.2358th percentile of its 52-week rangeHigh ₹16.30

Scorecard

Not rated

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. Not rated — too few comparable Hybrid funds (same plan and option) to rank against yet.

Performance—

Not enough Multi Asset Allocation peers to rank yet

Risk—

Volatility 9.5% (no category average yet)

Cost—

0.6% expense (no category average yet)

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

No significant concerns identified.

Key Metrics

Annual fee charged by the fund, already deducted from NAV

0.63%

Category —

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

17.06

Category —

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

0.95

Category —

Scheme Info

Definitions

Plan

Direct · IDCW

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

None

Holding period from the date of allotment: − Up to 10% of units: Nil exit load if redeemed or switched out within 1 month. − Exceeding 10% of units: 1% exit load if redeemed or switched within 1 month. − After 1 months: Nil exit load on any redemption or switch-out

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

40% NIFTY500 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.

29 Sep 2023

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

Definitions

Absolute return over the last 1 month (not annualized)

-3.84%

Absolute return over the last 3 months (not annualized)

-2.20%

Absolute return over the last 6 months (not annualized)

+2.45%

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

+1.19%

Annualized returns (≥1Y — CAGR)

Definitions

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

+8.42%

3-year annualized return (CAGR)

+15.53%

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.

+15.53%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

9.47%

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

0.95

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

1.26

Largest peak-to-trough decline over full history

-9.71%

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

8.48%

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

0.50

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

59.3%

Excess return per unit of beta (market risk)

18.49

Active return over the benchmark per unit of tracking error

1.04

Annualized std dev of fund-minus-benchmark returns

9.19%

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

79.7%

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

16.9%

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	-3.84%	—	—
3M abs	-2.20%	—	—
6M abs	+2.45%	—	—
1Y CAGR	+8.42%	—	—
3Y CAGR	+15.53%	—	—
5Y CAGR	—	—	—

Category average across peers in Multi Asset Allocation, 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.

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

₹4.23L

Absolute

+17.37%

XIRR

+11.27%

Value vs. invested

ValueInvested

36 monthly installments of ₹10,000 into DSP 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	+1.19%	-12.85%	+14.04%
2025	+18.84%	+11.97%	+6.87%
2024	+18.12%	+10.16%	+7.96%
2023part	+8.64%	—	—

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

691

Expense ratio

0.63%

AUM

₹9,515Cr

Portfolio turnover

168%

Exit load

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

P/E ratio

17.1

P/B ratio

3.2

Avg market cap

₹4,90,981Cr

P/E & P/B are portfolio-weighted harmonic means across 41 of 65 equity holdings (34% 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


DSP Multi Asset Allocation FundThis fund DSP · Direct · IDCW	—	+8.42%	+15.53%	—	—	0.63%	₹9,515Cr
Quant Multi Asset Allocation Fund quant · Direct · IDCW	—	+13.21%	+22.37%	+18.72%	—	1.13%	₹5,474Cr
Nippon India Multi Asset Allocation Fund Nippon India · Direct · IDCW	—	+2.23%	+16.03%	+13.68%	—	0.47%	₹15,069Cr
Kotak Multi Asset Allocation Fund Kotak Mahindra · Direct · IDCW	—	+3.75%	+14.77%	—	—	0.64%	₹13,629Cr
SBI Multi Asset Allocation Fund SBI · Direct · IDCW	—	+7.18%	+14.17%	+12.84%	—	0.68%	₹17,976Cr
SBI Multi Asset Allocation Fund SBI · Direct · IDCW	—	+7.18%	+14.16%	+12.84%	—	0.68%	₹17,976Cr

Market-cap allocation · AMFI bands, Jul 2026

Equity holdings by company size — 75% of the equity sleeve priced.

Large cap74.5%
Mid cap15.0%
Small cap10.5%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity48.71%
Other21.54%
Cash & Equivalents15.48%
Debt11.94%
Real Estate / REITs1.50%

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

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
DSP Value Fund DSP · Value Fund	57.9% of 80% equity	★★★★★	1.55%	+15.37%
DSP Business Cycle Fund DSP · Sectoral/ Thematic	52.5% of 83% equity	★★★☆☆	1.17%	—
DSP Large Cap Fund DSP · Large Cap Fund	50.5%	★★★★☆	1.21%	+10.00%
ICICI Prudential Large Cap Fund ICICI Prudential · Large Cap Fund	49.4%	★★★★★	1.01%	+9.67%
DSP ELSS Tax Saver Fund DSP · ELSS	47.4%	★★★★★	0.92%	+11.96%
ICICI Prudential India Opportunities Fund ICICI Prudential · Sectoral/ Thematic	44.6%	★★★★★	0.92%	+12.84%
ICICI Prudential Dividend Yield Fund ICICI Prudential · Dividend Yield Fund	44.6%	★★★★★	0.76%	+13.65%
HDFC Conservative Hybrid Fund HDFC · Conservative Hybrid Fund	44.1% of 19% equity	★★★☆☆	1.18%	+6.99%

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.

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.

-9.7%29 Jan 2026 → 23 Mar 2026
Fell over 2 months, back to the old high on 21 Aug 2026 — 5 months under water after the low.
-9.6%26 Sep 2024 → 07 Apr 2025
Fell over 6 months, back to the old high on 06 Jun 2025 — 2 months under water after the low.
-5.3%25 Aug 2026 → 01 Oct 2026
Still below that high — 37 days 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.

Fund size over time

Quarterly average AUM · AMFI

₹9,515Cr

April - June 2026

+21%

since January - March 2026

+₹1,615Cr

est. net flow, last quarter

At or near its largest, ₹9,515Cr 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

DSP Mutual Fund is run by DSP Asset Managers, part of the DSP Group, a Mumbai financial firm whose broking lineage runs back to 1860. The house operated as a joint venture with BlackRock — and Merrill Lynch before it — until the DSP family bought out the foreign stake in 2018.

Launched

15 Dec 1996

Total AUM

₹2,29,802Cr+2.0% QoQ

Avg AUM · April - June 2026

Website

dspim.com

Fund Managers

SGShantanu GodambeStart date not disclosed

Education

CFA, MS(Finance), B.Com

Experience

Over 17 years of experience From March 2023 Onwards: Vice President (Investments - Fixed Income) - DSP Asset Managers Private Limited From January 2016-February 2023: Group Executive Vice President – Financial Markets - Plus SDL – April 2033 Index Yes Bank Ltd From November 2008-January 2016: Head – SLR Desk - Prebon Yamane India Ltd

Funds managed (14)

All schemes Shantanu Godambe runs →

AKAparna KarnikStart date not disclosed

Role

Head - Quantitative Investments and Analytics Fund Manager

Education

B.Com, M.M.S. (Mumbai University)

Experience

Over 21 years of experience as under: From April 2023 to present: DSPAM- Senior Vice President, Head - Quantitative Investments and Analytics. From May 2022 to March 2023: DSPIM- Senior Vice President, Head - Quantitative Investments and Analytics From May 2010 to April 2022: DSPIM – Senior Vice President and Head – Risk & Quantitative Analysis From April 2007 to May 2010: CRISIL Ltd, Senior Manager, Corporate & Infrastructure Ratings From August 2004 to March 2007: CRISIL Ltd, Manager, Structured Finance Ratings

Funds managed (3)

All schemes Aparna Karnik runs →

RGRavi GehaniStart date not disclosed

Education

MMS Finance, MET Institute of Management, Mumbai B.Com, University of Mumbai, Mumbai

Experience

Over 09 years of experience as under: DSP Silver Apr-2022 - Present, Manager, DSP ETF, DSP Mutual Fund. Multi Asset March 2017 – Apr 2022 – Assistant Allocation Manager, Muthoot Exim Pvt Ltd. Fund Handled various roles in Bullion Price Risk, Products and Operations. April 2015- January 2016- Analyst, Investor Relations- S-Ancial Global Solutions Pvt Ltd. March 2013 - August 2014- Trader, Commodities- Latin Manharlal Commodities Pvt Ltd. Worked as commodities trader.

Funds managed (2)

All schemes Ravi Gehani 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

Shantanu Godambe Aparna Karnik Ravi Gehani

Top holdings

HDFC Bank Limited Axis Bank Limited ICICI Bank Limited Bharti Airtel Limited Reliance Industries Limited State Bank of India Embassy Office Parks REIT Nvidia Corp Larsen & Toubro Limited Samvardhana Motherson International Limited NTPC Limited Sony Group Corp

DSP 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 DSP Multi Asset Allocation Fund?

As of 01 Oct 2026, the NAV of DSP Multi Asset Allocation Fund is ₹15.43 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has DSP Multi Asset Allocation Fund delivered?

DSP Multi Asset Allocation Fund has returned +8.42% over 1 year, +15.53% per year over 3 years and +15.53% 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 DSP Multi Asset Allocation Fund?

DSP Multi Asset Allocation Fund charges an expense ratio of 0.63% 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 DSP Multi Asset Allocation Fund?

DSP Multi Asset Allocation Fund's largest holdings are DSP Gold ETF (11.7%), DSP Nifty 50 Equal Wieght ETF (5.6%), 6.90% GOI 15042065 (4.0%), HDFC Bank Limited (3.5%) and Axis Bank Limited (3.1%). Holdings are disclosed monthly and change over time.

How risky is DSP Multi Asset Allocation Fund?

DSP Multi Asset Allocation Fund is rated high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 9.5% and its worst peak-to-trough fall in our sample was -9.7%. 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 0.95 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. DSP Multi Asset Allocation Fund's 0.95 means it has rewarded its volatility with excess return. Higher is better.

What is the benchmark of DSP Multi Asset Allocation Fund?

DSP Multi Asset Allocation Fund is benchmarked against the 40% NIFTY500 TRI. Its alpha and beta on this page are measured against that index.

Who manages DSP Multi Asset Allocation Fund?

DSP Multi Asset Allocation Fund is managed by Shantanu Godambe, Aparna Karnik and Ravi Gehani at DSP.

How is DSP Multi Asset Allocation Fund taxed?

DSP 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.