Best Multi Asset Allocation Mutual 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.
Top multi asset allocation mutual funds by 3Y returns
12Direct plan, Growth option — ranked by 3-year CAGR. Open a fund for NAV history, rolling returns, risk metrics and peer rank.
As of 20 Aug 2026, Quant Multi Asset Allocation Fund (Direct plan, Growth option) leads multi asset allocation mutual funds on 3-year CAGR at +23.29%, followed by Nippon India Multi Asset Allocation Fund at +20.75% and Aditya Birla Sun Life Multi Asset Allocation Fund at +17.86%. Across 36 multi asset allocation mutual funds the category averaged +16.55% over three years, at an average expense ratio of 0.94%. All figures are computed from public AMFI NAV history and recomputed daily; past returns do not predict future ones.
| 1 | Quant Multi Asset Allocation Fund quant | ★★★★☆ | +20.5% | +23.3% | +21.0% | 1.12% | ₹5,474Cr |
| 2 | Nippon India Multi Asset Allocation Fund Nippon India | ★★★★★ | +17.7% | +20.7% | +16.8% | 0.46% | ₹15,069Cr |
| 3 | Aditya Birla Sun Life Multi Asset Allocation Fund Aditya Birla Sun Life | ★★★★☆ | +17.1% | +17.9% | — | 0.66% | ₹6,638Cr |
| 4 | WhiteOak Capital Multi Asset Allocation Fund WhiteOak Capital | ★★★★☆ | +15.1% | +17.8% | — | 0.64% | ₹7,308Cr |
| 5 | UTI Multi Asset Allocation Fund UTI | ★★☆☆☆ | +8.6% | +17.5% | +14.5% | 0.74% | ₹6,867Cr |
| 6 | Baroda BNP Paribas Multi Asset Fund Baroda BNP Paribas | ★★★☆☆ | +12.3% | +16.7% | — | 0.92% | ₹1,409Cr |
| 7 | SBI Multi Asset Allocation Fund SBI | ★★★☆☆ | +14.4% | +16.6% | +14.5% | 0.68% | ₹17,976Cr |
| 8 | ICICI Prudential Multi-Asset Fund ICICI Prudential | ★★★☆☆ | +8.7% | +16.3% | +18.0% | 0.83% | ₹83,732Cr |
| 9 | Axis Multi Asset Allocation Fund Axis | ★☆☆☆☆ | +15.1% | +15.7% | +10.9% | 1.32% | ₹2,266Cr |
| 10 | Tata Multi Asset Allocation Fund Tata | ★★★☆☆ | +10.5% | +14.9% | +13.8% | 0.64% | ₹5,042Cr |
| 11 | HDFC Multi-Asset Allocation Fund HDFC | ★★☆☆☆ | +6.8% | +13.4% | +12.0% | 1.01% | ₹5,980Cr |
| 12 | Edelweiss Multi Asset Allocation Fund Edelweiss | ★★☆☆☆ | +6.8% | +7.7% | — | 0.80% | ₹2,665Cr |
NAV data as of 20 Aug 2026. Returns are CAGR for periods ≥1 year, computed from AMFI NAV history. Ratings are WealthTicker’s own, ranked within sub-category peers — not a SEBI or agency rating. See our methodology for every formula. This is data, not investment advice.
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Frequently asked questions
What are multi asset allocation mutual 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.
Which is the best multi asset allocation fund right now?
Quant Multi Asset Allocation Fund by quant currently ranks first among multi asset allocation mutual funds by 3-year CAGR at +23.29%. Rankings move with NAVs — past returns don't guarantee future performance.
What returns have multi asset allocation mutual funds given?
The category has averaged +14.50% over 1 year, +16.55% annualized over 3 years, +15.19% annualized over 5 years — peer averages over the live funds in the category, computed from AMFI NAV history.
How are multi asset allocation mutual funds taxed?
It depends on what the individual scheme holds, not on the category. A scheme holding more than 65% in Indian equity is taxed as equity (20% short-term, 12.5% long-term above ₹1.25 lakh a year); one holding more than 65% in debt is taxed at your slab rate whatever the holding period; anything in between is taxed at slab within 24 months and 12.5% after. Each fund's page states which rule applies to it.