EquityMulti Cap FundDirectIDCWVery High

DSP Multi Cap Fund

Q: What is the NAV of DSP Multi Cap Fund?

As of 05 Oct 2026, the NAV of DSP Multi Cap Fund is ₹11.23 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has DSP Multi Cap Fund delivered?

DSP Multi Cap Fund has returned -9.91% over 1 year and +4.36% 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 Cap Fund?

DSP Multi Cap Fund charges an expense ratio of 0.68% 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 Cap Fund?

DSP Multi Cap Fund's largest holdings are HDFC Bank Limited (6.1%), ICICI Bank Limited (5.6%), Axis Bank Limited (3.8%), Max Financial Services Limited (3.3%) and Coforge Limited (3.1%). Holdings are disclosed monthly and change over time.

Q: How risky is DSP Multi Cap Fund?

DSP Multi Cap Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 15.7% and its worst peak-to-trough fall in our sample was -24.9%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Q: What is the benchmark of DSP Multi Cap Fund?

DSP Multi Cap 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 DSP Multi Cap Fund?

DSP Multi Cap Fund is managed by Chirag Dagli at DSP.

Q: How is DSP Multi Cap Fund taxed?

DSP Multi Cap 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 Cap Mutual Funds

NAV

₹11.23

+0.14% 1D

as of 05 Oct 2026

This is the Direct plan of DSP Multi Cap 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

Performance

-10.38%absolute

52-week rangePrev NAV ₹11.22

Latest ₹11.23

Low ₹9.8250th percentile of its 52-week rangeHigh ₹12.65

Key Metrics

Annual fee charged by the fund, already deducted from NAV

0.68%

Category —

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

25.89

Category —

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

—

Category —

Scheme Info

Definitions

Plan

Direct · IDCW

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

₹100

Smallest one-time (lumpsum) investment the scheme accepts

₹100

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.

31 Jan 2024

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

Definitions

Absolute return over the last 1 month (not annualized)

-4.38%

Absolute return over the last 3 months (not annualized)

-3.80%

Absolute return over the last 6 months (not annualized)

+12.45%

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

-10.03%

Annualized returns (≥1Y — CAGR)

Definitions

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

-9.91%

3-year annualized return (CAGR)

—

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.

+4.36%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

15.66%

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

—

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

—

Largest peak-to-trough decline over full history

-24.94%

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

-0.37%

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

1.05

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

81.5%

Excess return per unit of beta (market risk)

-1.88

Active return over the benchmark per unit of tracking error

-0.10

Annualized std dev of fund-minus-benchmark returns

7.75%

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

95.0%

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

98.1%

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	-4.38%	—	—
3M abs	-3.80%	—	—
6M abs	+12.45%	—	—
1Y CAGR	-9.91%	—	—
3Y CAGR	—	—	—
5Y CAGR	—	—	—

Category average across peers in Multi Cap Fund, 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

₹1.20L

Current value

₹1.17L

Absolute

-2.82%

XIRR

-6.06%

Value vs. invested

ValueInvested

12 monthly installments of ₹10,000 into DSP Multi Cap 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	-10.03%	-7.18%	-2.85%
2025	+1.78%	+7.94%	-6.16%
2024part	+22.43%	—	—

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

660

Expense ratio

0.68%

AUM

₹2,765Cr

Portfolio turnover

23%

Exit load

(as a % of Applicable NAV):

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

P/E ratio

25.9

P/B ratio

4.4

Avg market cap

₹2,02,320Cr

P/E & P/B are portfolio-weighted harmonic means across 53 of 59 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


DSP Multi Cap FundThis fund DSP · Direct · IDCW	—	-9.91%	—	—	—	0.68%	—
LIC MF Multi Cap Fund LIC · Direct · IDCW	—	+5.47%	+16.98%	—	—	0.78%	₹1,895Cr
Bank of India Multi Cap Fund Bank of India · Direct · IDCW	—	+9.69%	+16.68%	—	—	1.17%	₹1,091Cr
Axis Multicap Fund Axis · Direct · IDCW	—	+2.49%	+16.58%	—	—	1.00%	₹9,775Cr
HSBC Multi Cap Fund HSBC · Direct · IDCW	—	+3.12%	+15.99%	—	—	0.79%	₹5,538Cr
Union Multicap Fund Union · Direct · IDCW	—	+6.98%	+14.03%	—	—	1.37%	₹1,340Cr

Market-cap allocation · AMFI bands, Jul 2026

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

Large cap32.6%
Mid cap37.1%
Small cap30.2%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity97.53%
Cash & Equivalents2.47%

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

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
DSP Flexi Cap Fund DSP · Flexi Cap Fund	43.9%	★★★☆☆	0.88%	+9.76%
DSP Aggressive Hybrid Fund DSP · Aggressive Hybrid Fund	38.1% of 72% equity	★★★★☆	0.79%	+9.13%
DSP Conservative Hybrid Fund DSP · Conservative Hybrid Fund	38.0% of 21% equity	★★★☆☆	0.64%	+8.50%
DSP Large & Mid Cap Fund DSP · Large & Mid Cap Fund	37.2%	★★★★☆	0.79%	+12.20%
DSP Focused Fund DSP · Focused Fund	36.0%	★★★☆☆	1.11%	+12.17%
DSP ELSS Tax Saver Fund DSP · ELSS	33.5%	★★★★★	0.92%	+11.96%
DSP Business Cycle Fund DSP · Sectoral/ Thematic	32.7% of 83% equity	★★★☆☆	1.17%	—
DSP Dynamic Asset Allocation Fund DSP · Dynamic Asset Allocation or Balanced Advantage	32.4% of 71% equity	★★★☆☆	1.04%	+9.86%

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.

-24.9%16 Oct 2024 → 30 Mar 2026
Still below that high — 17 months down, and no recovery yet.
-6.4%26 Feb 2024 → 19 Mar 2024
Fell over 22 days, back to the old high on 04 Apr 2024 — 16 days under water after the low.
-5.7%23 May 2024 → 04 Jun 2024
Fell over 12 days, back to the old high on 07 Jun 2024 — 3 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.

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

CDChirag DagliStart date not disclosed

Education

B.Com, CA

Experience

Over 23 years of experience as detailed under: From April 01, 2023 to till date: Equity Research in Healthcare – DSPAM From November 02, 2020 to March 31, 2023: Equity Research in Healthcare – DSPIM From November 2012 to October 2020: Senior Equity Analyst – HDFC AMC Ltd. From August 2012 to October 2012: Senior Manager - Fund Management - Aviva Life Insurance From October 2010 to August 2012: Vice President - ICICI Securities From March 2009 to October 2010: Vice President – Research - Infinity.Com Financial Securities Ltd (Pioneer Invest Corp) From April 2008 to February 2009: Asst. Vice President - Global Markets - Deutsche Equities India Private Limited From October 2003 to April 2008: Research Analyst - Citigroup Global Markets India Private Limited From May 2001 to September 2003: Associate - Equity Research - ICICI Securities

Funds managed (1)

DSP Healthcare Fund

All schemes Chirag Dagli 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

Chirag Dagli

Top holdings

HDFC Bank Limited ICICI Bank Limited Axis Bank Limited Max Financial Services Limited Coforge Limited Info Edge (India) Limited Alkem Laboratories Limited Mahindra & Mahindra Limited Cipla Limited Hero MotoCorp Limited Kirloskar Oil Engines Limited KEI Industries Limited

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.

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 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 DSP Multi Cap Fund?

As of 05 Oct 2026, the NAV of DSP Multi Cap Fund is ₹11.23 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has DSP Multi Cap Fund delivered?

DSP Multi Cap Fund has returned -9.91% over 1 year and +4.36% 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 Cap Fund?

DSP Multi Cap Fund charges an expense ratio of 0.68% 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 Cap Fund?

DSP Multi Cap Fund's largest holdings are HDFC Bank Limited (6.1%), ICICI Bank Limited (5.6%), Axis Bank Limited (3.8%), Max Financial Services Limited (3.3%) and Coforge Limited (3.1%). Holdings are disclosed monthly and change over time.

How risky is DSP Multi Cap Fund?

DSP Multi Cap Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 15.7% and its worst peak-to-trough fall in our sample was -24.9%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What is the benchmark of DSP Multi Cap Fund?

DSP Multi Cap 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 DSP Multi Cap Fund?

DSP Multi Cap Fund is managed by Chirag Dagli at DSP.

How is DSP Multi Cap Fund taxed?

DSP Multi Cap 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.