UTI ULIP leads dynamic asset allocation mutual funds in six-month returns; delivers 3.6% gain
UTI ULIP delivered 3.6% returns over the last six months and 7.8% CAGR over three years, according to ACE MF data on July 28.
Moneycontrol Desk
July 29, 2026 / 15:15 IST
Among dynamic asset allocation mutual funds that meet the screen used for this ranking, UTI ULIP is at the top on six-month returns. The fund delivered 3.6 percent, ahead of DSP Dynamic Asset Allocation Fund at 1.7 percent and Edelweiss Balanced Advantage Fund at 1.5 percent, according to ACE MF data on July 28.
The ranking considers only schemes with assets under management of at least Rs 1,500 crore. Among the top five funds that meet this criterion, Edelweiss Balanced Advantage Fund has the largest corpus at Rs 13,031.2 crore.
The benchmark comparison is also important. UTI ULIP was ahead of its benchmark by 4.0 percentage points on a one-year basis, with the benchmark returning -1.7%. It was also trailed its benchmark by 0.4 percentage points on a three-year basis, with the benchmark returning 8.2%.
There is no change at the top when the one-month window is considered. UTI ULIP remains ahead with 2.2 percent.
The lead does not change on a three-month basis either. UTI ULIP also tops this comparison with a return of 5.2 percent.
The three-year ranking gives a different reading. DSP Dynamic Asset Allocation Fund is ahead on this measure with a return of 10.0 percent.
The variation across return windows shows why rankings can look different depending on the period being considered. A short-term leader may not always be the same as the fund that has done well over a longer horizon.
Table: Top 5 dynamic asset allocation funds by six-month return
| Fund name | 6-month return (%) | AUM (Rs crore) | 1-month return (%) | 3-month return (%) | 1-year return (%) | 3-year return (%) |
|---|---|---|---|---|---|---|
| UTI ULIP | 3.6 | 5,027.4 | 2.2 | 5.2 | 2.3 | 7.8 |
| DSP Dynamic Asset Allocation Fund | 1.7 | 3,749.1 | -0.0 | 1.9 | 4.2 | 10.0 |
| Edelweiss Balanced Advantage Fund | 1.5 | 13,031.2 | 0.6 | 1.8 | 4.8 | 9.6 |
| Mirae Asset Balanced Advantage Fund | 1.2 | 2,128.9 | 0.3 | 1.2 | 3.7 | 9.2 |
| Franklin India Balanced Advantage Fund | 0.4 | 2,819.0 | -0.2 | 1.3 | 0.2 | 9.3 |
Note: The ranking considers only schemes with minimum assets under management of Rs 1,500 crore. Returns and AUM are according to ACE MF data on July 28. One-year and three-year returns are CAGR; one-month, three-month and six-month returns are absolute returns. AUM is in Rs crore.
What is a dynamic asset allocation fund?
Dynamic asset allocation funds adjust equity and debt exposure based on the fund’s model or market view. Performance depends on both asset allocation and security selection.