Not One Multi Cap Fund Rose in a Month: The Category Fell 6.14% on Average
Key Highlights
Multi Cap funds: average 1-month −6.14%, 1-year −1.55%, 3-year 12.55% a year across 33 Direct Growth plans, to 22 October 2026.
Returns as of: 22 October 2026
- Category average return: 1 month −6.14%, 1 year −1.55%, 3 years 12.55% a year
- Every fund fell over the past month
- Fewer than half the funds had a positive return over one year
- 8% of 1-year rolling windows ended below zero
- Average expense ratio of Direct plans: 1.02%
- Largest fund by assets: Nippon India Multi Cap Fund
Multi Cap funds performance: the category average fell 6.14% over the month. Every fund fell over the month. The 1-year average was −1.55%, and fewer than half of the 32 funds had a positive return.
Multi Cap funds: returns across the category
| Period | Average | Median | Funds with a positive return | Funds counted |
|---|---|---|---|---|
| 1 week | −3.00% | −3.02% | 0 of 33 | 33 |
| 1 month | −6.14% | −6.23% | 0 of 33 | 33 |
| 3 months | −4.25% | −4.60% | 1 of 32 | 32 |
| 6 months | 0.19% | 0.03% | 16 of 32 | 32 |
| 1 year | −1.55% | −1.45% | 10 of 32 | 32 |
| 3 years (a year) | 12.55% | 12.22% | 22 of 22 | 22 |
| 5 years (a year) | 11.88% | 11.52% | 10 of 10 | 10 |
The 1-year average is lower than the 3-year average. Over three years, the category average was 12.55%. The 1-year average was −1.55%.
Highest and lowest returns over the past month
| Fund | 1 month | 1 week |
|---|---|---|
| Samco Multi Cap Fund | −4.34% | −2.22% |
| Bandhan Multi Cap Fund | −4.40% | −2.52% |
| The Wealth Company Multi Cap Fund | −4.85% | −3.19% |
| Fund | 1 month | 1 week |
|---|---|---|
| ICICI Pru Multi Cap Fund | −8.57% | −3.95% |
| Franklin India Multi Cap Fund | −7.78% | −4.48% |
| Sundaram Multi Cap Fund | −7.44% | −3.12% |
Highest 3-year returns
| Fund | 1 year | 3 years (a year) | Expense ratio |
|---|---|---|---|
| Axis Multicap Fund | 1.66% | 16.97% | 1.03% |
| WOC Multi Cap Fund | −0.74% | 16.31% | 0.89% |
| LIC MF Multi Cap Fund | 0.82% | 15.69% | 0.78% |
| Bank of India Multi Cap Fund | 4.10% | 15.41% | 1.19% |
| HSBC Multi Cap Fund | −0.64% | 15.09% | 0.81% |
Rolling returns
| Measure | Category average 1-year return |
|---|---|
| Lowest window | −5.9% (ending 26 September 2025) |
| Median | 9.8% |
| Highest window | 52.6% (ending 28 March 2024) |
| Share of windows below zero | 8% |
| Latest window (ending 22 October 2026) | −3.2% |
The median rolling window was 9.8%. The lowest window was −5.9%. The latest rolling window is lower than the median rolling window, at −3.2%.
Largest funds and costs
| Fund | Assets (₹ crore) | 1 year | 3 years (a year) |
|---|---|---|---|
| Nippon India Multi Cap Fund | 53,767 | −7.85% | 10.97% |
| Kotak Multi Cap Fund | 30,335 | −4.09% | 14.34% |
| SBI Multicap Fund | 23,456 | −8.20% | 10.09% |
| HDFC Multi Cap Fund | 19,490 | −9.06% | 9.34% |
| ICICI Pru Multi Cap Fund | 18,717 | −2.69% | 12.30% |
| Expense ratio | Funds counted | |
|---|---|---|
| Average | 1.02% | 33 |
| Lowest: The Wealth Company Multi Cap Fund | 0.47% | |
| Highest: Samco Multi Cap Fund | 2.20% |
Multi Cap funds: FAQs
How have Multi Cap funds performed over the past year?
The average 1-year return of 32 Direct Growth Multi Cap funds was −1.55% to 22 October 2026; fewer than half the funds had a positive return. The average 3-year return was 12.55% a year across 22 funds.
What is the average expense ratio of Multi Cap funds?
The average expense ratio of 33 Direct plans in the Multi Cap category is 1.02%. It ranges from 0.47% (The Wealth Company Multi Cap Fund) to 2.20% (Samco Multi Cap Fund).
Which Multi Cap fund is the largest?
Nippon India Multi Cap Fund has the largest assets among Multi Cap funds, ₹53,767 crore at 30 September 2026, across all its plans.
What are rolling returns?
Rolling returns measure the return over every window of a fixed length, not just the one ending today. Here, each 1-year window ending between 23 October 2023 and 22 October 2026 is averaged across 14 funds, so the result does not depend on one start date.
Why are Direct plans compared?
Direct plans have no distributor commission in their cost, so they are the cleanest way to compare the funds themselves. Regular plans of the same funds charge a higher expense ratio, which reduces their returns.
, expense and portfolio data: Accord Fintech. Calculations: ThePip. For information only; not investment advice.