May 05, 2026
1 mins read
When choosing SIP schemes, aim for fit, not hype. Match each scheme to a goal, time horizon, and risk comfort. Use Riskometer labels to avoid blind spots, compare returns to benchmarks, and monitor the expense ratio. This keeps a multiple SIP investment plan simple, trackable, and easier to stay consistent with over time.
To choose SIP schemes for more than one goal, start by separating goals by time and risk. For example, a long goal may handle equity volatility better than a short goal. Next, check the scheme’s risk label using the mutual fund Riskometer, which SEBI requires AMCs to display, so you are not guessing risk from returns alone.
Then compare a fund with its benchmark, because benchmarks help you judge whether performance is reasonable for that category. Index methods for popular benchmarks like Nifty and Sensex are publicly documented by NSE and BSE Indices. Finally, costs matter. The Total Expense Ratio is disclosed and impacts investor returns over time, so it should be part of your SIP selection strategy. A SIP calculator can also help you estimate the amount needed for each goal before choosing schemes.
Choosing suitable schemes for SIPs becomes easier when you compare your goals, risk comfort, time horizon, fund performance, costs, and consistency across different Mutual Funds.
Start with goals, then assign each SIP a job
If you’re running a multiple SIP investment plan, write down what each SIP is meant to do. One SIP can be for long-term growth, another for near-term stability. This is the cleanest SIP selection strategy because it reduces overlap and confusion later. A SIP calculator can help you test the monthly amount for each goal.
Use the Riskometer before you look at returns
Many people jump to the returns first. Flip the order. SEBI’s Riskometer framework exists so investors can see a scheme’s risk level in a standard way across funds. When you choose SIP schemes, risk-fit is more important than a short burst of performance.
Compare performance with the right benchmark, not with “the market”
A fund should be judged against its benchmark and category peers, not random schemes. Benchmarks are not vague ideas. NSE and BSE publish methodology documents for indices used widely in performance comparison. If a scheme regularly lags its benchmark over meaningful periods, that’s a signal to review your SIP selection strategy.
Check consistency over a full cycle, not just the last year
When you choose SIP schemes, look at rolling or multi-year performance, not just a single recent period. Short snapshots can be misleading, especially in mid and small-cap heavy phases. Consistency supports better decision-making in a multiple SIP investment plan because it reduces the urge to switch.
Treat expense ratio as a real cost, not a minor detail
TER is disclosed, and it affects outcomes, especially over long periods. AMFI clearly notes TER’s bearing on NAV and that TER is disclosed daily. SEBI also has specific circulars on TER and performance disclosure. Keeping costs reasonable is a practical SIP selection strategy, particularly when you run several SIPs at the same time..
Diversify, but do not duplicate
Diversification helps, duplication confuses. Instead of buying three similar funds, spread across categories that behave differently. For a multiple SIP investment plan, a simple structure is easier to track and easier to rebalance. This is often the difference between a plan that runs for years and one that gets abandoned.
Avoiding common SIP mistakes can help you choose schemes more carefully, stay aligned with your goals, and review your investments without reacting to short-term market movements.
Picking schemes only because they are trending
A scheme can top charts for a short period and still be a poor fit for your time horizon. A good SIP selection strategy starts with risk and goal match, not popularity.
Ignoring the Riskometer label
If the scheme risk is higher than your comfort level, you may stop the SIP at the wrong time. SEBI’s Riskometer is meant to prevent this mismatch.
Comparing the wrong things
Comparing a large-cap style fund with a sector fund is not useful. When you choose SIP schemes, compare them to the right benchmark and similar peers. NSE and BSE index methodology notes help explain what the benchmark represents.
Overlooking costs across several SIPs
Small cost differences can add up when you run many SIPs for many years. AMFI highlights why TER matters, and SEBI has clear disclosure requirements. In a multiple SIP investment plan, cost discipline is part of basic hygiene.
Using online SIP calculators, fund comparison tools, and portfolio trackers can help investors review Mutual Funds more clearly before choosing suitable SIP schemes.
SEBI SIP Calculator
SIP calculators assist in estimating the future value based on contribution, duration, and expected return. It helps you set realistic SIP amounts for each goal.
Goal planning using SIP projections
Once you have a rough corpus target, adjust the time or the monthly amount instead of guessing. This improves SIP selection strategy because you choose scheme categories with a clearer plan, not vague optimism. A SIP calculator can make these projection checks easier.
Expense ratio checks
Use TER disclosures as a checkpoint while you choose SIP schemes. AMFI notes that TER is disclosed and has a direct bearing on outcomes, so it should not be ignored.
Benchmark awareness tools
When comparing funds, remember that benchmarks are built using defined rules. NSE and BSE publish index methodology documents, which can help you understand what “benchmark performance” actually means.
A multi scheme SIP setup is basically a way to run more than one SIP without making your tracking messy. It can support a multiple SIP investment plan by keeping investments organised and reducing manual work.
Easier goal separation
You can assign separate SIPs to separate goals, which strengthens SIP selection strategy and reduces the chance of using the wrong money for the wrong need.
Better tracking and review discipline
When several SIPs are running, reviews should focus on goal progress, risk, benchmark comparison, and costs. TER disclosures are available, and regulators emphasise transparency in how costs are shown to investors.
Diversification without chaos
The point is not to add ten schemes. It is to choose SIP schemes that play different roles. A tidy structure is easier to stay invested in, which matters more than constant tinkering.
Simple automation mindset
Once SIPs are aligned to goals and risk, the main advantage is consistency. That’s the core value of a structured multiple SIP investment plan.
There is no ideal number. Keep only as many SIPs as you can track properly, across goals, time periods, and your risk comfort.
Yes, you can. But having many SIPs in one fund may not add much value unless they serve different dates, goals, or amounts.
Portfolio overlap means two or more funds hold many of the same stocks. This can reduce real diversification, even if you own different funds.
Growth keeps gains invested in the fund. Dividend or IDCW may pay out income, but payouts are not fixed and reduce the fund value.
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Content Partner - Dalal Street Investment Journal Wealth Advisory Private Limited
This article is for educational purposes only and should not be considered investment advice. Market investments are subject to risks. DSIJ Wealth Advisory Private Limited is a SEBI-registered Research Analyst (Reg. No: INH000006396) and Investment Adviser (Reg. No: INA000001142). Please consult your financial adviser before investing.
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