NiveshMultiplierNivesh Multiplier
    Category Analysis

    Best Multi Asset Allocation Funds 2026 (25% 3Y)

    Top Multi Asset Allocation funds 2026 ranked by returns & risk. Quant Multi Asset Allocation Fund leads at 25.5% 3Y returns. Compare performance, cost &...

    AI GeneratedReviewed by Shivank RastogiUpdated 17 March 2026 3 min read

    Returns Comparison

    Return comparison across the ranked funds using trailing 1Y, 3Y, and 5Y performance.

    Rolling Returns

    Rolling return ranges show how consistently each fund has delivered over time.

    Max Drawdown

    Drawdown highlights the peak-to-trough downside each fund has faced in recent periods.

    Detailed Fund Metrics

    Fund NameAUM (Cr)Exp RatioAlphaSharpe Ratio1Y Ret3Y Ret5Y RetRoll 3YDD 1Y
    Quant Multi Asset Allocation Fund Direct GrowthHybrid • Multi Asset Allocation
    ₹4763.300.580%6.66921.506328.540%25.490%27.600%26.26%4.94%
    Nippon India Multi Asset Allocation Fund Direct GrowthHybrid • Multi Asset Allocation
    ₹12513.310.250%7.75612.075826.450%23.050%18.200%23.90%5.28%
    Nippon India Multi Asset Omni FoF Direct GrowthHybrid • Multi Asset Allocation
    ₹2136.980.110%7.21111.787621.390%22.300%19.090%23.22%5.07%
    SBI Multi Asset Allocation Fund Direct GrowthHybrid • Multi Asset Allocation
    ₹14943.800.580%6.70212.035723.710%21.130%15.820%21.19%3.92%
    ICICI Prudential Multi Asset Fund Direct GrowthHybrid • Multi Asset Allocation
    ₹80768.230.640%6.18581.928817.600%20.550%20.610%21.01%3.27%

    Introduction: The Multi Asset Allocation Category in March 2026

    Multi Asset Allocation funds in India have grown to match the increasingly complex investing demands of modern investors. These funds, which include equity, debt, and alternative assets like gold and real estate, are ideal for those looking to diversify risk across asset classes. The multi-asset strategy is particularly attractive in today's volatile market environment, serving as a buffer against market downturns while capturing upside opportunities across sectors. As we step into March 2026, this guide explores the top-performing funds in this category, providing a detailed comparative analysis based on NiveshMultiplier's proprietary Nivesh Composite Score.

    #1 Ranked: Quant Multi Asset Allocation Fund Direct Growth — The Frontrunner

    Quant Multi Asset Allocation Fund has secured its place as the leader with an outstanding Nivesh Composite Score of 90.48. The fund's potent cocktail of high returns and calculated risk-taking has made it the go-to option for investors. Its 5-year rolling return of 27.3% confirms its consistency, while the fund's ability to capitalize on financial sector growth has driven its performance. The fund endured a maximum drawdown of -4.94% over the last year but recovered within 297 days, displaying strong resilience. With a Sharpe ratio of 1.51, it provides 1.51 units of return per unit of risk, reflecting its effective risk management strategy.

    Sector allocations are a key part of its narrative, with a heavy 39.7% in Financials. This has been a strategic advantage as the finance sector continues to outperform. Allocations in technology and insurance also buffer against volatility, underscoring its 9.46% annualized volatility.

    The Challengers: Nippon India Multi Asset Allocation Fund vs Nippon India Multi Asset Omni FoF

    These funds, both carrying the Nippon brand, highlight distinct risk-return profiles. The Nippon India Multi Asset Allocation Fund boasts a return resilience, demonstrated by its 1-year rolling return of 28.85% and comparatively lower maximum drawdown of -5.28% over one year. However, it hasn’t fully recovered from this drawdown, emphasizing caution.

    In contrast, the Nippon India Multi Asset Omni FoF has shown a rolling return of 24.06% over one year against a volatile backdrop. With a higher expense ratio of 0.11% compared to the former's 0.25%, it offers slightly less alpha at 7.21. The funding exemplifies long-term sector investing with a hefty 21.04% allocation to Nippon India Large Cap Fund, evidence of its equity-focused strategy.

    Under the Radar: SBI Multi Asset Allocation Fund & ICICI Prudential Multi Asset Fund

    The SBI Multi Asset Allocation Fund intrigues with its balanced strategy, prioritizing capital preservation through strategic allocations across various sectors, including a 4.07% stake in Communication and 3.66% in Sovereign. Despite a lower Sharpe ratio of 2.03, its 7.16% volatility is among the lowest, indicating a reliable cushion during downturns.

    Meanwhile, ICICI Prudential Multi Asset Fund offers a compelling 5-year rolling return of 20.22%. Prudent allocations across diverse sectors, including a robust 5.89% in Energy and 7.25% in Automobiles, provide a spectrum of growth engines. Its conservative approach has yielded a minimal drawdown of -3.27% over the year, with rapid recovery in 310 days, appealing to risk-averse investors.

    The Final Verdict

    Choosing the right fund depends heavily on the investor's priority. For those focused on maximum long-term CAGR with a high tolerance for risk, the Quant Multi Asset Allocation Fund is unrivaled with its 27.3% 5-year rolling return and steady recovery metrics. On the other hand, if capital preservation during corrections is paramount, the ICICI Prudential Multi Asset Fund offers a lower drawdown percentage of -3.27%, highlighting its defensive prowess in turbulent times.

    Optimize Your Specific Portfolio

    Our AI doesn't just rank funds; it analyzes your exact holdings to find overlap, high expenses, and underperformance.

    Our Methodology

    Nivesh Composite Score

    Funds are ranked using a min-max normalised composite score computed across all active funds in the same sub-category. Each metric is scaled 0–100 relative to category peers and then weighted:

    FactorWeightWhy it matters
    5-Year Return30%Long-term compounding ability
    3-Year Return30%Medium-term consistency
    1-Year Return20%Recent momentum
    Sharpe Ratio15%Return generated per unit of risk
    Alpha5%Outperformance vs benchmark

    A fund scoring 85/100 means it ranks in the top 15% of its category across all five dimensions combined.

    Rolling Returns (CAGR)

    We compute point-to-point CAGR from actual daily NAV data rather than relying on declared fund returns. For periods over 1 year, the formula is:

    CAGR = (Latest NAV ÷ Historical NAV)^(1/years) − 1

    NAV values are matched within a ±15-day window to handle weekends and market holidays. Periods covered: 6 months, 1 year, 3 years, and 5 years.

    Maximum Drawdown

    Drawdown measures the worst peak-to-trough fall a fund experienced over a given period. We track:

    • Max Drawdown %: The deepest decline from any previous all-time high within the window
    • Recovery Days: How many calendar days the fund took to climb back to its pre-drawdown peak (null = still recovering)

    We compute drawdowns over 1-year and 3-year windows from daily NAV data.

    Annualised Volatility

    Volatility is calculated as the standard deviation of daily logarithmic returns, annualised by multiplying by √252 (trading days per year). A fund with 18% annualised volatility means a ₹1,00,000 investment could swing by roughly ±₹18,000 in a typical year.

    Data Sources

    All NAV data is sourced from AMFI India. Performance metrics, holdings, and AUM figures come from fund house disclosures and are refreshed daily. Expense ratios, Sharpe ratios, Sortino ratios, and Alpha are sourced from standardised SEBI-mandated fund factsheets.

    Related Reads

    Top Recommended Funds

    #1 Rated
    High Risk

    Quant Multi Asset Allocation Fund Direct Growth

    Alpha6.67
    Sortino2.41
    Roll 3Y26.26%
    DD 1Y4.94%
    Top Holdings
    Nippon India ETF Gold BeES9.51%
    HDFC Bank Ltd.9.31%
    ICICI Bank Ltd.9.26%
    ₹4763.30 CrExp: 0.580%
    #2 Rated
    Very High Risk

    Nippon India Multi Asset Allocation Fund Direct Growth

    Alpha7.76
    Sortino2.94
    Roll 3Y23.90%
    DD 1Y5.28%
    Top Holdings
    Nippon India ETF Gold BeES10.55%
    iShares MSCI World ETF5.73%
    Nippon India Silver ETF - Growth5.27%
    ₹12513.31 CrExp: 0.250%
    #3 Rated
    Very High Risk

    Nippon India Multi Asset Omni FoF Direct Growth

    Alpha7.21
    Sortino2.94
    Roll 3Y23.22%
    DD 1Y5.07%
    Top Holdings
    Nippon India Large Cap Fund Direct-Growth21.04%
    Nippon India ETF Gold BeES20.78%
    Nippon India Growth Mid Cap Fund Direct- Growth19.99%
    ₹2136.98 CrExp: 0.110%
    #4 Rated
    Very High Risk

    SBI Multi Asset Allocation Fund Direct Growth

    Alpha6.70
    Sortino3.28
    Roll 3Y21.19%
    DD 1Y3.92%
    Top Holdings
    SBI Silver ETF-Growth6.16%
    GOI3.66%
    Brookfield India Real Estate Trust REIT3.58%
    ₹14943.80 CrExp: 0.580%
    #5 Rated
    Very High Risk

    ICICI Prudential Multi Asset Fund Direct Growth

    Alpha6.19
    Sortino2.93
    Roll 3Y21.01%
    DD 1Y3.27%
    Top Holdings
    ICICI Prudential Gold Exchange Traded Fund9.13%
    ICICI Bank Ltd.3.90%
    HDFC Bank Ltd.3.63%
    ₹80768.23 CrExp: 0.640%