Top-rated multi cap funds: November 2026

The 5 multi cap schemes rated A+ or A on their track record this month, out of 23 rated Regular plans: why each one rates well, what changed since last month, and how much they overlap. Data as of 11 Nov 2026.

Each fund is compared only with other multi cap funds of the same plan type: return over the NIFTY500 Multicap 50:25:25 total-return index, how consistently it was earned, risk, cost and portfolio. How the ratings work.

1. Axis Multicap Fund (A last month)

Axis Mutual Fund · AUM ₹12,269 cr · 4.9 years

Regular A+ · #1 of 23 · expense ratio 1.97% · Direct A+ · #1 of 23 · expense ratio 0.91%

Returned 18.6% a year over 3 years (Regular plan), +5.6% a year against the NIFTY500 Multicap 50:25:25 total-return index; the median fund: +1.2%.
In falling months it fell 88% as much as the index (median fund: 96%).
Its deepest fall in the last 3 years was 18.5% (median fund: 20.3%).
Holds 108 stocks; the top 10 are 23% of the portfolio, the largest sector Banks (15%).

A short record: 4.9 years. Ratings on short records change more.

2. WhiteOak Capital Multi Cap Fund (B last month)

WhiteOak Capital Mutual Fund · AUM ₹4,377 cr · 3.1 years

Regular A+ · #2 of 23 · expense ratio 2.21% · Direct A+ · #2 of 23 · expense ratio 0.88%

Returned 17.0% a year over 3 years (Regular plan), +4.0% a year against the NIFTY500 Multicap 50:25:25 total-return index; the median fund: +1.2%.
In falling months it fell 88% as much as the index (median fund: 96%).
Its deepest fall in the last 3 years was 17.2% (median fund: 20.3%).
Holds 191 stocks; the top 10 are 21% of the portfolio, the largest sector Banks (14%).

A short record: 3.1 years. Ratings on short records change more.

3. Bank Of India Multi Cap Fund

Bank of India Mutual Fund · AUM ₹1,356 cr · 3.7 years

Regular A · #3 of 23 · expense ratio 2.44% · Direct A · #3 of 23 · expense ratio 1.13%

Returned 16.8% a year over 3 years (Regular plan), +3.8% a year against the NIFTY500 Multicap 50:25:25 total-return index; the median fund: +1.2%.
In falling months it fell 92% as much as the index (median fund: 96%).
Its deepest fall in the last 3 years was 20.7% (median fund: 20.3%).
Holds 66 stocks; the top 10 are 30% of the portfolio, the largest sector Banks (15%).

A short record: 3.7 years. Ratings on short records change more.

4. Mahindra Manulife Multi Cap Fund

Mahindra Manulife Mutual Fund · AUM ₹7,338 cr · 9.5 years

Regular A · #4 of 23 · expense ratio 2.18% · Direct A · #4 of 23 · expense ratio 0.95%

Returned 16.4% a year over 3 years (Regular plan), +3.4% a year against the NIFTY500 Multicap 50:25:25 total-return index; the median fund: +1.2%.
Ahead of the NIFTY500 Multicap 50:25:25 total-return index in 87% of rolling 3-year periods (median fund: 64%).
In falling months it fell 98% as much as the index (median fund: 96%).
Its deepest fall in the last 3 years was 20.6% (median fund: 20.3%).

5. SBI MultiCap Fund (C last month)

SBI Mutual Fund · AUM ₹22,848 cr · 4.7 years

Regular A · #5 of 23 · expense ratio 1.82% · Direct B · #7 of 23 · expense ratio 1.04%

Returned 12.8% a year over 3 years (Regular plan), -0.2% a year against the NIFTY500 Multicap 50:25:25 total-return index; the median fund: +1.2%.
In falling months it fell 80% as much as the index (median fund: 96%).
Its deepest fall in the last 3 years was 15.6% (median fund: 20.3%).
Holds 71 stocks; the top 10 are 29% of the portfolio, the largest sector Banks (11%).

A short record: 4.7 years. Ratings on short records change more.

What changed since last month

Joined the shortlist

WhiteOak Capital Multi Cap Fund: B → A+
SBI MultiCap Fund: C → A

Left the shortlist

Regular plans; ratings are revised on the 11th and 16th of each month, after fund houses publish their portfolios. Each fund's page explains its own change.

Which of these suits you?

That depends on your goal, your other funds and how much overlap you hold. Tell us what you have and we'll look at it with you.

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All 64 multi cap plans, with every rating · Other categories

Common questions

Which multi cap funds are rated A+ in November 2026?

Among Regular plans: Axis Multicap Fund, WhiteOak Capital Multi Cap Fund. 5 schemes are rated A+ or A in at least one plan. Ratings compare each fund with its own category and plan type, on its record against the NIFTY500 Multicap 50:25:25 total-return index.

Is the top-rated multi cap fund the best one to invest in?

Not necessarily. The rating describes the track record so far: return over the index, how consistently it was earned, risk, cost and portfolio. Our own backtest found that top ratings did not reliably predict the next three years. Use the shortlist to avoid weak records, then choose for your goal, the funds you already hold, and how much overlap you can accept.

Direct plan or Regular plan?

The same portfolio. A Direct plan has no distributor commission, so its expense ratio is lower and its return slightly higher. A Regular plan pays a distributor such as us, through the expense ratio, for advice and service. Plans are rated separately: Regular against Regular, Direct against Direct.

How often does this list change?

Returns update every weekday, but ratings change twice a month: on the 11th and the 16th, after fund houses publish their monthly portfolios.

Ratings describe past track records and are not a recommendation to buy or sell, or a forecast. Mutual fund investments are subject to market risks; read the scheme documents before investing.