Best Multi Asset Allocation Funds in India (2026)
Live · updated 2026-09-16 Ranked by data, refreshed from daily NAVs
This is the complete, data-ranked list of multi asset allocations we track - every Direct-Growth scheme in the category with a meaningful track record, ordered by long-term quality (King Score). This page is recomputed from NAV data every day, so it cannot go stale, and every fund on it links to a full research page with returns, risk, SIP outcomes, holdings and manager track record.
Tap any column heading to sort. Every fund name links to its full review.
| # | Fund | RS | King | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR | 10Y CAGR | Sharpe | Roll 3Y | Worst fall |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | WhiteOak Capital Multi Asset Allocation Fund | 97 | 86 | 2.7% | 5.6% | 11.6% | 16.5% | n/a | n/a | 1.72 | n/a | -4.8% |
| 2 | Nippon India Multi Asset Allocation Fund | 87 | 81 | 0.9% | 4.8% | 11.7% | 18.3% | 15.2% | n/a | 1.16 | 18.4% | -9.5% |
| 3 | Aditya Birla Sun Life Multi Asset Allocation Fund | 79 | 73 | 0.5% | 4.8% | 10.7% | 15.4% | n/a | n/a | 0.86 | 18.4% | -10.1% |
| 4 | quant Multi Asset Allocation Fund | 89 | 70 | -0.6% | 4.7% | 15.8% | 21.4% | 19.4% | 18.6% | 1.24 | 16.3% | -44.8% |
| 5 | SBI Multi Asset Allocation Fund | 64 | 65 | -0.1% | 2.6% | 10.3% | 14.5% | 13.2% | 12.0% | 0.96 | 12.6% | -17.6% |
| 6 | Baroda BNP Paribas Multi Asset Fund | 43 | 61 | -0.3% | 3.1% | 6.2% | 13.8% | n/a | n/a | 0.66 | 17.9% | -11.9% |
| 7 | ICICI Prudential Multi-Asset Fund | 21 | 56 | -1.0% | 1.3% | 3.4% | 13.6% | 15.5% | 15.2% | 0.83 | 17.6% | -30.6% |
| 8 | Edelweiss Multi Asset Allocation Fund | 69 | 53 | 1.8% | 3.3% | 6.8% | 7.6% | n/a | n/a | 0.54 | n/a | -1.2% |
| 9 | Tata Multi Asset Allocation Fund | 42 | 53 | -1.0% | 4.2% | 6.1% | 12.5% | 12.1% | n/a | 0.65 | 17.2% | -13.5% |
| 10 | UTI Multi Asset Allocation Fund | 23 | 53 | -0.7% | 2.0% | 3.2% | 14.7% | 12.9% | 11.1% | 0.84 | 9.8% | -25.0% |
| 11 | HDFC Multi-Asset Fund | 22 | 45 | 0.2% | 0.6% | 2.7% | 11.3% | 10.7% | 11.4% | 0.62 | 12.9% | -27.1% |
| 12 | Axis Multi Asset Allocation Fund | 72 | 37 | 1.4% | 2.9% | 8.8% | 13.1% | 8.9% | 11.7% | 0.63 | 10.9% | -27.4% |
| 13 | Shriram Multi Asset Allocation Fund | 47 | 24 | 0.1% | 1.4% | 7.4% | 10.9% | n/a | n/a | 0.35 | n/a | -15.3% |
The category returns: 1 month to 10 years𝕏 Share this statWhatsApp
Over the last 1 year, the category averaged 8.1% - the best, quant Multi Asset Allocation Fund, returned 15.8% while the weakest managed 2.7%. That spread is why picking within the category matters. Over 10 years the average compounding rate is 13.3% a year, which turned ₹1 lakh into about ₹348,600.
| Period | Average | Median | Best fund | Weakest |
|---|---|---|---|---|
| 1 month | -2.4% | -2.6% | Edelweiss Multi Asset Allocation Fund (0.4%) | -3.7% |
| 3 months | 0.3% | 0.1% | WhiteOak Capital Multi Asset Allocation Fund (2.7%) | -1.0% |
| 6 months | 3.2% | 3.1% | WhiteOak Capital Multi Asset Allocation Fund (5.6%) | 0.6% |
| 1 year | 8.1% | 7.4% | quant Multi Asset Allocation Fund (15.8%) | 2.7% |
| 3 years (CAGR) | 14.1% | 13.8% | quant Multi Asset Allocation Fund (21.4%) | 7.6% |
| 5 years (CAGR) | 13.5% | 13.0% | quant Multi Asset Allocation Fund (19.4%) | 8.9% |
| 10 years (CAGR) | 13.3% | 11.8% | quant Multi Asset Allocation Fund (18.6%) | 11.1% |
Averages across every qualifying fund, refreshed daily. Best-fund links open that fund's full review.
What ₹1 lakh became
The same returns, translated into money - at the average pace and at the best fund's pace:
| Held for | Average pace | ₹1 lakh → (average) | ₹1 lakh → (best fund) |
|---|---|---|---|
| 1 year | 8.1% a year | ₹108,100 | ₹115,800 |
| 3 years | 14.1% a year | ₹148,500 | ₹178,900 |
| 5 years | 13.5% a year | ₹188,400 | ₹242,700 |
| 10 years | 13.3% a year | ₹348,600 | ₹550,600 |
Pre-tax, from historical returns. The averages smooth over a very bumpy ride - see the worst-fall column in the ranking above for what the journey involved.
The category by the numbers
| Funds that qualify | 13 |
| Combined assets | ₹162,914 Cr |
| Average 3-year return | 14.1% a year (best 21.4%, weakest 7.6%) |
| Average 5-year return | 13.5% a year |
| Average worst-ever fall | -18.4% (deepest: -44.8%) |
| Average expense ratio (Direct) | 0.64% |
| Largest fund by assets | ICICI Prudential Multi-Asset Fund (₹84,165 Cr) |
Put the risk number in rupees: at the average worst fall of -18.4%, ₹1 lakh temporarily becomes about ₹81,600. That is the stretch every ranked fund's investors had to sit through at some point - the ranking rewards the funds that made that wait worthwhile.
Momentum check: what is hot right now
As of 2026-09-16, 1 of the 13 funds here rate RS 90 or above (top-decile recent momentum versus peers). The strongest momentum belongs to WhiteOak Capital Multi Asset Allocation Fund (RS 97/99). Average return over the last 3 months: 0.3%; over 6 months: 3.2%. Momentum is a snapshot, not a ranking criterion here - but it tells you whether this corner of the market is currently in favour.
Before you pick a multi asset fund: four checks
- Open the fund's page and look at the worst-fall figure in rupees - decide whether you could genuinely sit through it without selling.
- Check the rolling-return consistency, not just the trailing return: a fund that delivered in most windows beats one lucky streak.
- Compare its expense ratio against the category average shown above - a persistent 0.5% cost gap compounds into lakhs over decades.
- If you already own funds in this category, check the portfolio overlap section on the fund page - two funds owning the same stocks is one bet, not two.
Filter the entire Indian mutual fund universe by 40+ metrics - returns, consistency, drawdown, RS Rating, King Score, cost - then chart, compare and backtest anything you find.
How to read the table
RS (1-99) is recent momentum versus category peers - 99 is the hottest right now. King (0-100) is the long-term quality composite this list is ranked by. 3M/6M are recent returns; 3Y and 5Y CAGR are annualised longer records. Sharpe is return earned per unit of volatility - higher means smoother compounding. Roll 3Y is the median of every 3-year holding period in the fund's history, the fairest single return number a fund has. Worst fall is the deepest peak-to-bottom loss ever - the number that tests whether you would have stayed invested. Missing values show as n/a, usually because the fund is too young for that measurement.
The top 10, decoded𝕏 Share this statWhatsApp
- WhiteOak Capital Multi Asset Allocation Fund (Multi Asset Allocation) - King Score 86/100, RS 97/99 right now. 3-year return 16.5% a year, against a worst-ever fall of 4.8% (₹1 lakh briefly ₹95,200). Sharpe 1.72.
- Nippon India Multi Asset Allocation Fund (Multi Asset Allocation) - King Score 81/100, RS 87/99 right now. 3-year return 18.3% a year, against a worst-ever fall of 9.5% (₹1 lakh briefly ₹90,500). 5-year pace 15.2% a year, median 3-year rolling return 18.4%, sharpe 1.16.
- Aditya Birla Sun Life Multi Asset Allocation Fund (Multi Asset Allocation) - King Score 73/100, RS 79/99 right now. 3-year return 15.4% a year, against a worst-ever fall of 10.1% (₹1 lakh briefly ₹89,900). Median 3-year rolling return 18.4%, sharpe 0.86.
- quant Multi Asset Allocation Fund (Multi Asset Allocation) - King Score 70/100, RS 89/99 right now. 3-year return 21.4% a year, against a worst-ever fall of 44.8% (₹1 lakh briefly ₹55,200). 5-year pace 19.4% a year, median 3-year rolling return 16.3%, sharpe 1.24.
- SBI Multi Asset Allocation Fund (Multi Asset Allocation) - King Score 65/100, RS 64/99 right now. 3-year return 14.5% a year, against a worst-ever fall of 17.6% (₹1 lakh briefly ₹82,400). 5-year pace 13.2% a year, median 3-year rolling return 12.6%, sharpe 0.96.
- Baroda BNP Paribas Multi Asset Fund (Multi Asset Allocation) - King Score 61/100, RS 43/99 right now. 3-year return 13.8% a year, against a worst-ever fall of 11.9% (₹1 lakh briefly ₹88,100). Median 3-year rolling return 17.9%, sharpe 0.66.
- ICICI Prudential Multi-Asset Fund (Multi Asset Allocation) - King Score 56/100, RS 21/99 right now. 3-year return 13.6% a year, against a worst-ever fall of 30.6% (₹1 lakh briefly ₹69,400). 5-year pace 15.5% a year, median 3-year rolling return 17.6%, sharpe 0.83.
- Edelweiss Multi Asset Allocation Fund (Multi Asset Allocation) - King Score 53/100, RS 69/99 right now. 3-year return 7.6% a year, against a worst-ever fall of 1.2% (₹1 lakh briefly ₹98,800). Sharpe 0.54.
- Tata Multi Asset Allocation Fund (Multi Asset Allocation) - King Score 53/100, RS 42/99 right now. 3-year return 12.5% a year, against a worst-ever fall of 13.5% (₹1 lakh briefly ₹86,500). 5-year pace 12.1% a year, median 3-year rolling return 17.2%, sharpe 0.65.
- UTI Multi Asset Allocation Fund (Multi Asset Allocation) - King Score 53/100, RS 23/99 right now. 3-year return 14.7% a year, against a worst-ever fall of 25.0% (₹1 lakh briefly ₹75,000). 5-year pace 12.9% a year, median 3-year rolling return 9.8%, sharpe 0.84.
Frequently asked questions
Which is the best multi asset fund right now?
On our data-driven ranking as of 2026-09-16, WhiteOak Capital Multi Asset Allocation Fund scores highest (King Score 86/100). That is a description of its record versus peers, not a recommendation - rankings move as NAVs update, and the right fund depends on your goals and risk tolerance.
Are multi asset funds risky?
The category's numbers answer this better than adjectives: the average fund here has seen a worst-ever fall of -18.4%, and the deepest fall in the category is -44.8%. If a temporary loss of that size would make you sell, this category (or its allocation size in your portfolio) deserves a rethink. Risk here is not hypothetical - it is a matter of record.
What returns have multi asset funds given historically?
Across the 13 funds we track in this category, the average 3-year return is 14.1% a year, with the best at 21.4% and the weakest at 7.6%. Over 5 years the category average is 13.5% a year. These are records, not projections - the next three years owe nothing to the last three.
What is the average 1-year return of multi asset funds right now?
As of 2026-09-16, the 13 qualifying funds averaged 8.1% over the last year (median 7.4%). The best, quant Multi Asset Allocation Fund, returned 15.8%; the weakest returned 2.7%. One year is weather, not climate - check the 5 and 10 year columns before drawing conclusions.
Which multi asset fund gave the highest return in the last 10 years?
quant Multi Asset Allocation Fund leads with 18.6% a year over 10 years - ₹1 lakh became about ₹550,600 pre-tax. The average across funds with a 10-year record is 13.3% a year. A decade-long record says a lot about the past and nothing certain about the next decade.
How is this list ranked?
Funds are ordered by King Score - a 0-100 composite of 3-year returns, rolling consistency, worst drawdown and Sharpe, each measured against category peers. The full formulas are public - see our methodology page. No fund pays to be here and rankings cannot be bought.
Should I invest in the #1 fund on this list?
We cannot tell you that - MF Terminal is descriptive research, not investment advice. A top rank says the past record was strong versus peers. Read the fund's full page, check the drawdowns you would have to sit through, and decide against your own horizon.
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All figures pre-tax, from AMFI NAV history. Rankings are descriptive and change with the data. Nothing here is investment advice or a recommendation to buy, sell or hold any fund. Past performance does not guarantee future returns.