Multi Cap Funds Compared
Every multi cap mutual fund's 1, 3 and 5-year return, SIP return and record against the Nifty 500, ranked by a stated measure, from AMFI NAVs.
As of 30 Sep 2026, there are 23 multi cap funds with at least 3 years of NAVs. Over 5 years their direct plans returned a median 13.1% a year, against 8.7% for the Nifty 500 index; 8 of 8 beat it. The highest 5-year return was Nippon India Multi Cap Fund at 15.6% a year.
All multi cap funds, ranked by 5-year return
| # | Fund | 1y | 3y | 5y | 10y | 5y regular | 5y SIP XIRR | Expense ratio (direct) | Beat index (rolling 3y) |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Nippon India Multi Cap Fund | -2.0% | 12.0% | 15.6% | 15.3% | 14.7% | 13.0% | 0.88% | 50/50 |
| 2 | Mahindra Manulife Multi Cap Fund | 12.3% | 16.3% | 15.2% | — | 13.4% | 15.9% | 0.93% | 50/50 |
| 3 | ICICI Prudential Multi Cap Fund | 6.7% | 14.7% | 14.2% | 14.5% | 13.2% | 13.9% | 1.02% | 50/50 |
| 4 | ITI Multi Cap Fund | 13.8% | 16.4% | 13.7% | — | 11.7% | 16.1% | 0.87% | 39/50 |
| 5 | Aditya Birla Sun Life Multi-Cap Fund | 8.4% | 13.8% | 12.5% | — | 11.1% | 13.2% | 1.02% | 30/30 |
| 6 | Baroda BNP Paribas Multi Cap Fund | 2.3% | 13.6% | 11.9% | 14.0% | 10.8% | 11.5% | 1.20% | 50/50 |
| 7 | Quant Multi Cap Fund | 7.9% | 9.6% | 11.3% | 17.8% | 10.0% | 9.8% | 1.01% | 33/50 |
| 8 | Invesco India Multi Cap Fund | 0.8% | 12.1% | 11.2% | 14.0% | 9.8% | 11.1% | 0.93% | 50/50 |
| — | Axis Multicap Fund | 9.6% | 18.7% | — | — | — | — | 1.03% | 23/23 |
| — | Bandhan Multi Cap Fund | 1.1% | 11.6% | — | — | — | — | 0.94% | 23/23 |
| — | Bank Of India Multi Cap Fund | 12.4% | 16.6% | — | — | — | — | 1.19% | — |
| — | Canara Robeco Multi Cap Fund | 1.1% | 13.2% | — | — | — | — | 0.66% | — |
| — | Edelweiss Multi Cap Fund | 5.0% | — | — | — | — | — | 0.71% | — |
| — | HDFC Multi Cap Fund | -2.9% | 10.5% | — | — | — | — | 0.94% | 23/23 |
| — | HSBC Multi Cap Fund | 8.2% | 17.2% | — | — | — | — | 0.81% | — |
| — | Kotak Multi Cap Fund | 3.7% | 15.9% | — | — | — | — | 0.70% | 25/25 |
| — | LIC MF Multi Cap Fund | 8.2% | 17.2% | — | — | — | — | 0.78% | 12/12 |
| — | Mirae Asset Multicap Fund | 1.7% | 12.7% | — | — | — | — | 0.87% | — |
| — | SBI MultiCap Fund | 0.0% | 12.2% | — | — | — | — | 1.09% | 20/20 |
| — | Sundaram Multi Cap Fund (Formerly Known as Principal Multi Cap Growth Fund) | 0.5% | 11.8% | — | — | — | — | 1.27% | 22/22 |
| — | Tata Multicap Fund | 5.6% | 9.3% | — | — | — | — | 0.80% | — |
| — | Union Multicap Fund | 9.3% | 14.1% | — | — | — | — | 1.41% | — |
| — | WhiteOak Capital Multi Cap Fund | 6.2% | 17.5% | — | — | — | — | 0.89% | — |
Direct plans, Growth option, to 30 Sep 2026. Funds that closed or merged are not in AMFI's current list, so the category looks a little better than investors actually did (survivorship). Returns are yearly (CAGR) from AMFI month-end NAVs of the Growth option. An index's return is measured through a low-cost index fund's direct plan, so it is a little below the index itself. Past returns do not tell you what a fund will do next, and this is not a recommendation to buy or sell any fund. Other categories: all mutual fund categories.
How many multi cap funds beat the Nifty 500?
8 of the 8 funds with 5 years of history beat the Nifty 500 index (through a low-cost index fund) over 5 years. Compare any one fund with its index over every 3-year stretch on the mutual fund vs index fund page.
Key takeaways
Frequently asked questions
Which multi cap fund has given the highest returns?
Over the 5 years to 30 Sep 2026, Nippon India Multi Cap Fund (direct plan) at 15.6% a year. Past returns do not predict future ones.
What is the average return of multi cap funds?
The median direct plan returned 13.1% a year over 5 years to 30 Sep 2026.
Do multi cap funds beat the index?
8 of 8 did over 5 years, before tax; an index fund is the low-cost alternative.