Mahindra Manulife Multi Asset Allocation Fund - Direct Plan - IDCW

Mahindra Manulife Multi Asset Allocation Fund - Direct Plan - IDCW ranks among the stronger performers in the Multi Asset Allocation category, backed by a 5-star rating. TopFund's composite Health Score, which weighs rating, 3-year CAGR, expense ratio and fund size, puts it at 92/100.

Cost: At 0.42%, the expense ratio is meaningfully cheaper — about 34% below the Multi Asset Allocation category average of 0.64% (based on 194 comparable funds). Lower costs compound in your favour over long holding periods.

Risk-adjusted performance: Over the trailing 1-year period, the fund shows a moderate Sharpe ratio of 0.61 — decent risk-adjusted performance, without being exceptional. Separately, annualised volatility of 11.31% is on the lower side, suggesting a comparatively smoother ride.

Who should invest: This fund is best suited to investors whose goals and risk appetite align with a Hybrid fund. The High risk rating means near-term volatility should be expected — this isn't a fund to check daily.