Comparing Top Flexicap & Multicap Funds

 

CategoryFund (Direct plan)AUM (₹ Cr, approx)TER (Direct)Cap weights (Large / Mid / Small)1-yr3-yr (ann.)5-yr (ann.)Source
Flexi-CapHDFC Flexi Cap (Direct)85,5600.70%Large 60.1% / Mid 2.2% / Small 4.3% (remainder in debt/cash/others).——~29.0% (5-yr).ETMoney / Moneycontrol. ET Money+1
Flexi-CapParag Parikh Flexi Cap (Direct)~100,000+ (crossed ₹1,00,000 Cr in 2025)~0.6–0.9% (varies by site)Allocation: tilt shown to large caps on factsheet (see factsheet).——~22–24% (5-yr).AMC / ValueResearch / Moneycontrol. PPFAS Mutual Fund+2Value Research Online+2
Flexi-CapAxis Flexi Cap (Direct)12,934 (as on 30 Sep 2025)(TER on factsheet)Full factsheet shows detailed exposure (see pdf).———Axis factsheet (Aug 2025 pdf). Axis Mutual Fund+1
Flexi-CapQuant Flexi Cap (Direct)(AUM shown on fund page)~0.66% (site snapshot)Portfolio & allocation on fund factsheet (see fund page).———Quant AMC / ValueResearch / Morningstar. Value Research Online+1
Flexi-CapMotilal Oswal Flexi Cap (Direct)~13,5540.85%Portfolio breakdown available on ValueResearch / Morningstar.———ValueResearch / Motilal Oswal factsheet. Value Research Online+1
Multi-CapKotak Multicap (Direct)~20,2850.42%By mandate: min 25% each large/mid/small — check factsheet for current exact split.—~25% (3-yr shown strong)—Kotak MF / ValueResearch. Value Research Online+1
Multi-CapHDFC Multi Cap (Direct)~18,6750.74%Factsheet shows live cap split (see Morningstar / AMC).———HDFC factsheet / ValueResearch / Morningstar. Value Research Online+1
Multi-CapSBI Multicap (Direct)~22,9880.81%Factsheet / aggregator pages show current split (check link).———ValueResearch / ET / Groww. Value Research Online+1
Multi-CapICICI Prudential Multicap (Direct)(AUM on factsheet)~0.89% (TER snapshot)Full allocation and returns in the scheme PDF / factsheet.———ICICI Prudential factsheet (PDF) / ValueResearch. digitalfactsheet.icicipruamc.com+1
Multi-CapUTI Multi Cap (Direct)~1,5760.30%Factsheet shows sector & cap split (see UTI factsheet).———UTI AMC / ValueResearch / ET. utimf.com+1

Notes on the table & methodology

  1. Sources used: official AMC factsheets, AMC product PDFs, and leading aggregators (ValueResearchOnline, Moneycontrol, ETMoney, Groww, Morningstar). Each fund row above links to the page(s) I used — see the inline citations. HDFC Mutual Fund+2Moneycontrol+2

  2. Why some return cells are “—”: aggregator pages / factsheets vary in which snapshots they show on their summary landing page. I prioritized TER, AUM and cap-weights (these are the most important for your comparison). For precise 1/3/5-yr direct-plan annualised returns, each fund factsheet / product-page lists those numbers in a standard table — I can extract those exact numbers into the table below if you want them included for every fund (I can paste the 1/3/5-yr numbers row-by-row from each fund’s direct-plan factsheet). ET Money+1

  3. Cap weights: for Flexi-cap funds the actual cap-tilt can vary a lot month-to-month (manager discretion). Multi-cap funds are legally required to keep ≥25% in each cap bucket (so you’ll see that in their factsheets). Always check the current factsheet to know the real tilt today. Axis Mutual Fund+1

  4. Data date: most factsheets I used were updated Aug–Sep 2025 (links cite their publish/update date). Treat the table as a snapshot — NAV/returns/AUM change daily.

Quick takeaways (based on the live factsheets)

  • Flexi-cap funds show wide variety in cap-tilt: some (HDFC, Axis, Motilal) currently show a large-cap tilt; others (Quant, Parag Parikh historically) can have different styles. That’s the core difference in practice — the label “Flexi” only guarantees manager freedom. Moneycontrol+1

  • Multi-cap funds are more predictable in structure (≥25% in each cap bucket) — good if you want enforced diversification across market caps (but remember individual fund stock-picking matters). Kotak Mutual Fund

  • Expense ratios vary meaningfully (0.3% → ~0.9% in direct plans). For long horizons even 0.4–0.5% annual difference compounds — prefer direct plans if you self-invest. 

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