Best Multi Cap Mutual 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.
Top multi cap mutual funds by 3Y returns
20Direct 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, Axis Multicap Fund (Direct plan, Growth option) leads multi cap mutual funds on 3-year CAGR at +22.11%, followed by HSBC Multi Cap Fund at +21.04% and LIC MF Multi Cap Fund at +20.33%. Across 32 multi cap mutual funds the category averaged +17.14% over three years, at an average expense ratio of 1.02%. All figures are computed from public AMFI NAV history and recomputed daily; past returns do not predict future ones.
| 1 | Axis Multicap Fund Axis | ★★★★★ | +12.0% | +22.1% | — | 1.10% | ₹9,775Cr |
| 2 | HSBC Multi Cap Fund HSBC | ★★★★★ | +11.2% | +21.0% | — | 0.82% | ₹5,538Cr |
| 3 | LIC MF Multi Cap Fund LIC | ★★★★☆ | +12.2% | +20.3% | — | 0.83% | ₹1,895Cr |
| 4 | Bank of India Multi Cap Fund Bank of India | ★★★★☆ | +14.0% | +20.2% | — | 1.24% | ₹1,091Cr |
| 5 | ITI Multi Cap Fund ITI | ★★★☆☆ | +14.3% | +19.7% | +16.2% | 0.87% | ₹1,382Cr |
| 6 | Mahindra Manulife Multi Cap Fund Mahindra Manulife | ★★★★☆ | +13.7% | +19.5% | +18.1% | 0.96% | ₹6,527Cr |
| 7 | Kotak Multicap Fund Kotak Mahindra | ★★★★☆ | +7.8% | +19.2% | — | 0.72% | ₹25,937Cr |
| 8 | ICICI Prudential Multicap Fund ICICI Prudential | ★★★★☆ | +10.0% | +18.5% | +17.0% | 1.03% | ₹17,214Cr |
| 9 | Union Multicap Fund Union | ★★★☆☆ | +12.9% | +17.4% | — | 1.45% | ₹1,340Cr |
| 10 | Baroda BNP Paribas Multi Cap Fund Baroda BNP Paribas | ★☆☆☆☆ | +6.2% | +16.9% | +15.6% | 1.23% | ₹3,226Cr |
| 11 | Canara Robeco Multi Cap Fund Canara Robeco | ★★★☆☆ | +5.7% | +16.8% | — | 0.65% | ₹5,247Cr |
| 12 | Aditya Birla Sun Life Multi-Cap Fund Aditya Birla Sun Life | ★★★☆☆ | +10.5% | +16.5% | +14.8% | 1.02% | ₹6,700Cr |
| 13 | Mirae Asset Multicap Fund Mirae Asset | ★★★☆☆ | +5.6% | +15.8% | — | 0.85% | ₹4,994Cr |
| 14 | Invesco India Multicap Fund Invesco | ★★☆☆☆ | +2.8% | +15.7% | +13.9% | 0.91% | ₹4,057Cr |
| 15 | Sundaram Multi Cap Fund Sundaram | ★★☆☆☆ | +4.9% | +15.6% | — | 1.30% | ₹2,658Cr |
| 16 | Nippon India Multi Cap Fund Nippon India | ★★☆☆☆ | +1.4% | +15.6% | +19.4% | 0.87% | ₹52,649Cr |
| 17 | SBI Multicap Fund SBI | ★★★☆☆ | +2.4% | +15.4% | — | 1.05% | ₹22,997Cr |
| 18 | Bandhan Multi Cap Fund Bandhan | ★★★☆☆ | +4.3% | +15.2% | — | 0.95% | ₹2,886Cr |
| 19 | HDFC Multi Cap Fund HDFC | ★★☆☆☆ | +1.5% | +14.2% | — | 0.93% | ₹19,551Cr |
| 20 | Tata Multicap Fund Tata | ★☆☆☆☆ | +10.4% | +12.4% | — | 0.76% | ₹3,270Cr |
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.
Popular comparisons
More Equity categories
Understand multi cap mutual funds
Frequently asked questions
What are multi cap mutual 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.
Which is the best multi cap fund right now?
Axis Multicap Fund by Axis currently ranks first among multi cap mutual funds by 3-year CAGR at +22.11%. Rankings move with NAVs — past returns don't guarantee future performance.
What returns have multi cap mutual funds given?
The category has averaged +8.76% over 1 year, +17.14% annualized over 3 years, +16.09% annualized over 5 years — peer averages over the live funds in the category, computed from AMFI NAV history.
How are multi cap mutual funds taxed?
Equity taxation: gains within 1 year are short-term and taxed at 20%; beyond 1 year, long-term gains above ₹1.25 lakh a year are taxed at 12.5%.