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 06 Oct 2026, Axis Multicap Fund (Direct plan, Growth option) leads multi cap mutual funds on 3-year CAGR at +18.51%, followed by WhiteOak Capital Multi Cap Fund at +17.50% and HSBC Multi Cap Fund at +17.34%. Across 33 multi cap mutual funds the category averaged +13.88% over three years, at an average expense ratio of 1.14%. All figures are computed from public AMFI NAV history and recomputed daily; past returns do not predict future ones.
| 1 | Axis Multicap Fund Axis | ★★★★★ | +7.7% | +18.5% | — | 1.00% | ₹11,430Cr |
| 2 | WhiteOak Capital Multi Cap Fund WhiteOak Capital | ★★★★☆ | +4.5% | +17.5% | — | 0.88% | ₹4,222Cr |
| 3 | HSBC Multi Cap Fund HSBC | ★★★★☆ | +6.7% | +17.3% | — | 0.79% | ₹6,264Cr |
| 4 | LIC MF Multi Cap Fund LIC | ★★★★☆ | +5.5% | +17.0% | — | 0.78% | ₹2,173Cr |
| 5 | Bank of India Multi Cap Fund Bank of India | ★★★☆☆ | +9.7% | +16.7% | — | 1.17% | ₹1,292Cr |
| 6 | ITI Multi Cap Fund ITI | ★★★☆☆ | +11.0% | +16.3% | +13.4% | 0.85% | ₹1,503Cr |
| 7 | Mahindra Manulife Multi Cap Fund Mahindra Manulife | ★★★★☆ | +9.5% | +16.3% | +14.4% | 0.94% | ₹7,383Cr |
| 8 | Kotak Multi Cap Fund Kotak Mahindra | ★★★★☆ | +1.7% | +16.0% | +16.0% | 0.70% | ₹29,878Cr |
| 9 | ICICI Prudential Multi Cap Fund ICICI Prudential | ★★★☆☆ | +3.7% | +14.3% | +13.5% | 1.01% | ₹18,973Cr |
| 10 | Union Multicap Fund Union | ★★★☆☆ | +7.0% | +14.0% | — | 1.37% | ₹1,503Cr |
| 11 | Aditya Birla Sun Life Multi-Cap Fund Aditya Birla Sun Life | ★★★☆☆ | +6.5% | +13.7% | +12.0% | 1.02% | ₹7,306Cr |
| 12 | Baroda BNP Paribas Multi Cap Fund Baroda BNP Paribas | ★★☆☆☆ | +0.7% | +13.6% | +11.4% | 1.19% | ₹3,426Cr |
| 13 | Canara Robeco Multi Cap Fund Canara Robeco | ★★★☆☆ | -0.5% | +13.3% | — | 0.67% | ₹5,780Cr |
| 14 | Mirae Asset Multicap Fund Mirae Asset | ★★☆☆☆ | -0.7% | +12.4% | — | 0.86% | ₹5,502Cr |
| 15 | SBI MultiCap Fund SBI | ★★★☆☆ | -2.4% | +12.1% | — | 1.05% | ₹24,132Cr |
| 16 | Nippon India Multi Cap Fund Nippon India | ★★☆☆☆ | -4.0% | +12.0% | +14.9% | 0.88% | ₹55,566Cr |
| 17 | Invesco India Multi Cap Fund Invesco | ★★☆☆☆ | -0.1% | +11.9% | +11.0% | 0.93% | ₹4,431Cr |
| 18 | Sundaram Multi Cap Fund Sundaram | ★★☆☆☆ | -1.7% | +11.7% | — | 1.27% | ₹3,003Cr |
| 19 | Bandhan Multi Cap Fund Bandhan | ★★★☆☆ | -0.9% | +11.6% | — | 0.95% | ₹3,047Cr |
| 20 | HDFC Multi Cap Fund HDFC | ★★☆☆☆ | -4.8% | +10.3% | — | 0.93% | ₹20,439Cr |
NAV data as of 06 Oct 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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Understand multi cap mutual funds
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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 +18.51%. Rankings move with NAVs — past returns don't guarantee future performance.
What returns have multi cap mutual funds given?
The category has averaged +4.07% over 1 year, +13.88% annualized over 3 years, +13.03% 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%.