Diversify · Free educational tool
Multi-Asset vs Single-Asset Calculator
Compare a custom allocation with equity, fixed deposits, gold, debt, property and REITs—and see how concentration changes the portfolio’s dependencies.
Built for Indian investorsInstant resultsNo sign-up requiredAssumptions remain editable
Build a simple asset mix
Return and tax assumptions
Your illustrative allocation
5 asset routes currently used
12.8% gain then needed to recover
Concentrated versus diversified examples
11.0% assumed return · high concentration
Stress example: -30.0%8.8% assumed return · lower concentration
Stress example: -11.4%8.7% assumed return · lower concentration
Stress example: -10.8%What this means: the concentrated example may show a higher value when its one favoured asset performs well, but it also depends much more heavily on that single outcome. Diversification spreads the dependence; it does not guarantee a higher return.
Before tax, after tax and purchasing power
Money you put in
₹10L
Illustrative growth
₹26.4L
Estimated tax
₹4.5L
After-tax value
₹31.9L
Value in today’s money
₹13.3L
Risk and return are different dimensions
Indian equityDebt / bondsGoldREITsCash / FDResidential propertyYour mixHigher assumed return ↑More ups and downs →
This visual is a teaching aid—not a forecast or statistically optimised portfolio.
Different assets can lead in different environments
Equities and business assets may benefit.
Gold and selected real assets may behave differently.
Long-duration bonds and growth assets may benefit.
High-quality debt, cash and defensive assets may stabilise.
No asset class dominates every economic environment.
Losses are asymmetric
gain required
gain required
gain required
gain required
Tax estimate used
Equity and listed REIT gains use listed-asset estimates; specified debt funds and FD interest use the selected slab; gold and property use the applicable holding-period estimate. Surcharge, rebates, losses, set-off, grandfathering and transaction-specific exemptions are not modelled.
Reviewed 18 August 2026 · Capital-gains guide ↗ · Specified debt funds ↗ · Slabs and cess ↗How is this calculated?
The combined return is each asset’s allocation multiplied by its editable return assumption. Tax is estimated separately for each asset rather than using one rate for the whole portfolio. The stress example applies a different shock to each asset. Concentration is based on how much of the portfolio depends on the largest allocations.
Calculations are illustrative and intended for educational purposes only. Actual investment returns, inflation, taxation, costs and financial outcomes may differ materially. Nothing on this page constitutes investment, tax, legal or insurance advice. If you discuss an output on WhatsApp, do not share PAN, OTP, bank-account or transaction details. Read full disclaimer.
How to use this result
Understand the drivers—not only the final number.
The calculator gives each asset a share of the portfolio and an editable return assumption. It estimates tax separately for equity, debt funds, FDs, gold, property and listed REITs. Three examples then show how dependence and stress can change as the mix becomes wider.
- Diversification spreads dependence; it does not remove loss.
- A concentrated portfolio can look better when its chosen asset performs well, but it also depends more heavily on that one outcome.
- Read expected value, tax, concentration and stress together.
Learn more about this decision
Continue with the relevant framework.
Calculator FAQs
Short answers before you rely on the result.
Does diversification reduce returns?
It can lag the best-performing asset in a given period. Its purpose is to reduce dependence on correctly identifying that winner in advance.
How many asset classes should I own?
There is no universal number. Each allocation should have a defined portfolio job, suitable liquidity and understandable risk.
Can gold reduce portfolio risk?
Gold can behave differently from business and fixed-income assets, but its diversification benefit varies and it can experience long weak periods.
Why not invest only in the best-performing asset?
The winner is known only after the period. Concentrating before the outcome increases dependence on one economic regime.
How often should allocation be reviewed?
Review when goals, cash flows or risk capacity change and periodically check material drift; frequent activity is not automatically useful.