EquitySectoral/ ThematicRegularGrowthVery High

Bandhan Multi-Factor Fund

Q: What is the NAV of Bandhan Multi-Factor Fund?

As of 01 Oct 2026, the NAV of Bandhan Multi-Factor Fund is ₹8.98 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has Bandhan Multi-Factor Fund delivered?

Bandhan Multi-Factor Fund has returned -8.60% over 1 year and -7.68% 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 Bandhan Multi-Factor Fund?

Bandhan Multi-Factor Fund charges an expense ratio of 4.25% 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 Bandhan Multi-Factor Fund?

Bandhan Multi-Factor Fund's largest holdings are Axis Bank Limited (4.3%), Polycab India Limited (4.1%), Suzlon Energy Limited (4.1%), Tata Steel Limited (4.1%) and Power Grid Corporation of India Limited (4.0%). Holdings are disclosed monthly and change over time.

Q: How risky is Bandhan Multi-Factor Fund?

Bandhan Multi-Factor Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 13.1% and its worst peak-to-trough fall in our sample was -16.9%. 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 Bandhan Multi-Factor Fund?

Bandhan Multi-Factor Fund is benchmarked against the BSE 200 TRI. Its alpha and beta on this page are measured against that index.

Q: Who manages Bandhan Multi-Factor Fund?

Bandhan Multi-Factor Fund is managed by Rishi Sharma, Nilesh Saha and Brijesh Shah at Bandhan.

Q: How is Bandhan Multi-Factor Fund taxed?

Bandhan Multi-Factor 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.

Bandhan Mutual Fund · Best Sectoral & Thematic Mutual Funds

NAV

₹8.98

-1.11% 1D

as of 01 Oct 2026

This is the Regular plan of Bandhan Multi-Factor 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.

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Performance

-7.82%CAGR

52-week rangePrev NAV ₹9.08

Latest ₹8.98

Low ₹8.980th percentile of its 52-week rangeHigh ₹10.80

Scorecard

★☆☆☆☆1/5 vs 229 of 255 Sectoral/ Thematic peers1Y

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 Sectoral/ Thematic (same plan and option). Based on a 1-year record — this fund is too young for a 3-year CAGR, so its performance is ranked on 1Y against the same peers. 229 of the 255 Sectoral/ Thematic funds in this cohort carry the full record the stars need, so they are the ones ranked against.

Performance—

Not enough Sectoral/ Thematic peers to rank yet

RiskLow

Volatility 13.1% vs 15.6% category avg

CostHigh

4.3% expense vs 2.5% category avg

Consistency—

Not enough history for a rolling 3Y view

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 Sectoral/ Thematic peers (13.1% vs 15.6%)

Concerns

Trails the Sectoral/ Thematic average on 1M/3M/6M/1Y — 1Y by 10.91pp
Ranks #204 of 229 on 1-year return in its Sectoral/ Thematic cohort
High expense ratio (4.25%) vs the Sectoral/ Thematic average of 2.46%

Key Metrics

Annual fee charged by the fund, already deducted from NAV

4.25%

Category 2.46%▲1.79%

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

20.20

Category —

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

—

Category 0.34

Scheme Info

Definitions

Plan

Regular · Growth

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

None

• If redeemed/switched out on or within 30 days from the date of allotment: 0.50% of the applicable NAV • If redeemed/switched out after 30 days from date of allotment – Nil

Up to 0.50%

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

₹1,000

BSE 200 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.

01 Aug 2025

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

Definitions

Absolute return over the last 1 month (not annualized)

-8.07%

Absolute return over the last 3 months (not annualized)

-8.71%

Absolute return over the last 6 months (not annualized)

-5.48%

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

-15.21%

Annualized returns (≥1Y — CAGR)

Definitions

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

-8.60%

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.

-7.68%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

13.07%

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

-16.91%

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

—

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

—

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

—

Excess return per unit of beta (market risk)

—

Active return over the benchmark per unit of tracking error

—

Annualized std dev of fund-minus-benchmark returns

—

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

—

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

—

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 (Sectoral/ Thematic)

Period	Fund	Category avg.	Diff
1M abs	-8.07%	-5.13%	-2.94%
3M abs	-8.71%	-2.32%	-6.39%
6M abs	-5.48%	+10.88%	-16.36%
1Y CAGR	-8.60%	+2.31%	-10.91%
3Y CAGR	—	+12.15%	—
5Y CAGR	—	+11.03%	—

Category average across peers in Sectoral/ Thematic (254 of 255 carry a figure for at least one period), 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 255 peers in Sectoral/ Thematic

1Y return

-8.60%

Beats 11% · rank #204

3Y return

—

5Y return

—

Sharpe

—

Sortino

—

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

₹1.08L

Absolute

-9.92%

XIRR

-20.73%

Value vs. invested

ValueInvested

12 monthly installments of ₹10,000 into Bandhan Multi-Factor 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	-15.21%	-7.18%	-8.03%
2025part	+7.44%	—	—

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.

Recent changes

Expense-ratio, fund-manager, exit-load and minimum-investment changes we've picked up in the last 30 days.

Expense ratio up: 4.09% → 4.25%
05 Oct 2026

History points

292

Expense ratio

4.25%

AUM

₹671.87Cr

Exit load

• If redeemed/switched out on or within 30 days from the date of allotment: 0.50% of the applicable NAV • If redeemed/switched out after 30 days from date of allotment – Nil

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

P/E ratio

20.2

P/B ratio

4.9

Avg market cap

₹2,13,367Cr

P/E & P/B are portfolio-weighted harmonic means across 32 of 34 equity holdings (94% 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 · Sectoral/ Thematic

Compare all


Bandhan Multi-Factor FundThis fund Bandhan · Regular · Growth	★☆☆☆☆ 1Y	-8.60%	—	—	—	4.25%	₹671.87Cr
Nippon India Taiwan Equity Fund Nippon India · Regular · Growth	★★★★☆	+118.60%	+60.45%	—	—	2.34%	₹1,110Cr
HDFC Defence Fund HDFC · Regular · Growth	★★★★☆	+21.45%	+34.62%	—	—	1.79%	₹9,371Cr
HDFC Pharma and Healthcare Fund HDFC · Regular · Growth	★★★★★	+25.19%	+28.72%	—	—	2.11%	₹2,282Cr
Franklin Asian Equity Fund Franklin Templeton · Regular · Growth	★★★☆☆	+32.21%	+22.88%	+8.49%	—	2.47%	₹720.84Cr
Aditya Birla Sun Life International Equity Fund Aditya Birla Sun Life · Regular · Growth	★★★★☆	+17.38%	+21.97%	+12.58%	—	2.54%	₹320.62Cr

Market-cap allocation · AMFI bands, Jul 2026

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

Large cap61.4%
Mid cap33.8%
Small cap4.8%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity98.57%
Cash & Equivalents1.29%

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

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
Edelweiss Nifty Alpha Low Volatility 30 Index Fund Edelweiss · Index Funds	38.6%	★★☆☆☆	0.66%	—
Bandhan Nifty Alpha Low Volatility 30 Index Fund Bandhan · Index Funds	38.6%	★★☆☆☆	0.54%	—
Nippon India Nifty Alpha Low Volatility 30 Index Fund Nippon India · Index Funds	38.6%	★★★☆☆	0.58%	+8.14%
UTI Nifty Alpha Low-Volatility 30 Index Fund UTI · Index Funds	38.6%	★★☆☆☆	0.79%	—
Kotak Nifty Alpha Low Volatility 30 Index Fund Kotak Mahindra · Index Funds	38.6%	—	1.27%	—
360 One Quant Fund 360 One · Sectoral/ Thematic	36.5%	★★★☆☆	1.09%	+13.12%
Kotak Quant Fund Kotak Mahindra · Sectoral/ Thematic	32.7%	★★☆☆☆	1.58%	+12.13%
UTI Nifty 200 Quality 30 Index Fund UTI · Index Funds	31.6%	★★☆☆☆	0.66%	—

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 — 2.79% 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.

PB Fintech LimitedShort-term · Stage I2.79%

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.

-16.9%11 Feb 2026 → 01 Oct 2026
Still below that high — 8 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.

Fund size over time

Quarterly average AUM · AMFI

₹671.87Cr

April - June 2026

+8%

since January - March 2026

+₹89.22Cr

est. net flow, last quarter

At or near its largest, ₹671.87Cr 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

Bandhan Mutual Fund is the former IDFC Mutual Fund, bought in 2022 by a consortium of Bandhan Financial Holdings, ChrysCapital and GIC and renamed the following year. It carries a long-established debt franchise alongside its equity and index schemes.

Launched

19 Dec 1999

Total AUM

₹2,04,046Cr+4.5% QoQ

Avg AUM · April - June 2026

Website

bandhanmutual.com

Fund Managers

RSRishi SharmaManaging since 30 Jul 2025

Role

Vice President B Com - MS - Equities

Education

University – Vadodara, PGDBA in Finance

Experience

Mr. Rishi Sharma joined Bandhan AMC on February 27, 2023 and has total experience of more than 20 years. In his current role, he will be responsible for fund management activity under the mutual fund business of the AMC. Prior to this, he was responsible for equity research and dealing activities in the Portfolio Management Services (PMS) division of the AMC and subsequently with effect from September 7, 2023 he was responsible for managing the Vedartha Neo Equity Portfolio (erstwhile known as Bandhan Neo Equity Portfolio). Prior to joining Bandhan AMC, he was associated with NJ Asset Management from July 2020 – December 2022 as General Manager for Research & Fund Management in Mutual Fund – equities. Prior to that, he was also associated with Ashvattha Advisors LLP from Aug 2014 – April 2020 as Managing Partner in Equity and derivative research and advisory. His prior associations also include IIFL where he was responsible for Investment and Trading in all asset classes.

All schemes Rishi Sharma runs →

NSNilesh SahaManaging since 19 Mar 2026

Role

Vice President- Fund Manager – Equity

Education

BE(Hons) in Mechanical Engineering, MBA from IIM Bangalore and CFA Charter holder

Experience

Mr. Saha joined Bandhan AMC Limited on September 29, 2025 as a part of equity investment team. He has a total experience of more than 11 years. He was earlier associated with Julius Baer Wealth Advisors (India) Pvt Limited from September 2023 to September 2025 where he was responsible for investment research and portfolio management activities for Category III AIF. Prior to that he was associated with Edelweiss Asset Management Limited from May, 2014 to August 2023, where he was responsible for investment research and portfolio management of Category III AIF.

BSBrijesh ShahManaging since 30 Jul 2025

Role

Senior Vice President – Fixed Income

Education

Post Graduate Diploma in Finance

Experience

Mr Shah is associated with Bandhan AMC since August 2015 as part of the Fixed Income Team and will now be handling investments and fixed income Bandhan US Treasury Bond 0-1 year – fund management. Prior experience: · IDBI Asset Management Ltd. – Dealing in Fixed income (Jan.2013 to Aug.2015) · India Bulls Asset Management Ltd. – Dealing in Fixed income (Jun.2011 to Dec.2012) · Mata Securities - Relationship Manager, Wholesale Debt Market (Jun.2010 to Jun.2011) · Twenty First Century - Relationship Manager, Wholesale Debt Market (Jan.2009 to May2010) (Total experience – 15 years)

Funds managed (42)

All schemes Brijesh Shah 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

Brijesh Shah

Top holdings

Axis Bank Limited Polycab India Limited Suzlon Energy Limited Tata Steel Limited Power Grid Corporation of India Limited UltraTech Cement Limited JSW Steel Limited Lupin Limited Hero MotoCorp Limited Bajaj Auto Limited Bharti Airtel Limited Cummins India Limited

Bandhan 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 Sectoral & Thematic funds

Sectoral and thematic funds must keep at least 80% in the equity of one sector (banking, pharma, technology) or one theme (consumption, manufacturing, ESG). That concentration is the point and the risk: with no mandate to diversify away from the sector, the fund rises and falls with it.

Frequently asked questions

What is the NAV of Bandhan Multi-Factor Fund?

As of 01 Oct 2026, the NAV of Bandhan Multi-Factor Fund is ₹8.98 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has Bandhan Multi-Factor Fund delivered?

Bandhan Multi-Factor Fund has returned -8.60% over 1 year and -7.68% 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 Bandhan Multi-Factor Fund?

Bandhan Multi-Factor Fund charges an expense ratio of 4.25% 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 Bandhan Multi-Factor Fund?

Bandhan Multi-Factor Fund's largest holdings are Axis Bank Limited (4.3%), Polycab India Limited (4.1%), Suzlon Energy Limited (4.1%), Tata Steel Limited (4.1%) and Power Grid Corporation of India Limited (4.0%). Holdings are disclosed monthly and change over time.

How risky is Bandhan Multi-Factor Fund?

Bandhan Multi-Factor Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 13.1% and its worst peak-to-trough fall in our sample was -16.9%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What is the benchmark of Bandhan Multi-Factor Fund?

Bandhan Multi-Factor Fund is benchmarked against the BSE 200 TRI. Its alpha and beta on this page are measured against that index.

Who manages Bandhan Multi-Factor Fund?

Bandhan Multi-Factor Fund is managed by Rishi Sharma, Nilesh Saha and Brijesh Shah at Bandhan.

How is Bandhan Multi-Factor Fund taxed?

Bandhan Multi-Factor 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.