Axis India Manufacturing Fund vs Canara Robeco Manufacturing Fund
Direct Plan, Growth option · Data as on 30-10-2026
Axis India Manufacturing Fund is a Thematic fund and Canara Robeco Manufacturing Fund is a Thematic fund. In the year to 30-10-2026, Axis India Manufacturing Fund (Direct) returned 8.3% and Canara Robeco Manufacturing Fund (Direct) returned 0.8%. Axis India Manufacturing Fund charges 0.93% a year and Canara Robeco Manufacturing Fund 1.01% (Direct plans). Their portfolios overlap 41.0%: they hold 29 of the same securities.
Axis India Manufacturing Fund
Thematic
- 1 year return
- 8.3%
- Expense ratio
- 0.93%
- NAV
- ₹15.95
Canara Robeco Manufacturing Fund
Thematic
- 1 year return
- 0.8%
- Expense ratio
- 1.01%
- NAV
- ₹13.30
Which is better, Axis India Manufacturing or Canara Robeco Manufacturing? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Axis India Manufacturing returned more over 1 year: 8.3% against 0.8%.
- Axis India Manufacturing costs less: 0.93% a year against 1.01% (Direct plans).
- Axis India Manufacturing fell less in its worst fall since 15-03-2024: −23.0% against −24.2%.
- Axis India Manufacturing is the larger fund: ₹5,540 Cr against ₹1,697 Cr.
- Their portfolios overlap 41.0%: 29 of the same holdings.
Past returns do not promise future returns. This page is information, not investment advice.
Key facts
From each fund's scheme summary document and AMFI
| Fact | Axis India Manufacturing Fund | Canara Robeco Manufacturing Fund |
|---|---|---|
| Fund house | Axis Mutual Fund | Canara Robeco Mutual Fund |
| Category | Thematic | Thematic |
| AUM | ₹5,540 Cr (30-09-2026) | ₹1,697 Cr (30-09-2026) |
| NAV | ₹15.95 (Direct) | ₹13.30 (Direct) |
| Expense ratio (Direct) | 0.93% | 1.01% |
| Expense ratio (Regular) | 2.09% | 2.27% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty India Manufacturing TRI | Nifty India Manufacturing TRI |
| Launch date | 21-12-2023 | 11-03-2024 |
| Minimum investment | ₹500 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Nitin Arora | Pranav Gokhale / Mr. Shobhit Tiwari |
| Exit load | Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 90 Days. | 1% - if redeemed/switched out within 365 days from the date of allotment. Nil - if redeemed/switched out after 365 days from the date of allotment |
Axis India Manufacturing vs Canara Robeco Manufacturing: Returns Comparison
Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.
| Fund | 1M | 3M | 6M | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|---|---|---|
| Axis India Manufacturing Fund (Direct) | −3.10% | −0.56% | +5.70% | +8.28% | -- | -- | -- |
| Canara Robeco Manufacturing Fund (Direct) | −6.54% | −5.27% | −0.75% | +0.83% | -- | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | -- | -- | -- |
Category average: the average of the 235 Thematic funds, same plan type.
Axis India Manufacturing vs Canara Robeco Manufacturing: Year-wise Returns
| Year | Axis IndiaAxis India Manufacturing | Canara RobecoCanara Robeco Manufacturing | Nifty India Manufacturing TRI |
|---|---|---|---|
| 2026to date | +9.70% | +4.56% | −2.54% |
| 2025 | +5.06% | +2.17% | +12.28% |
| 2024 | +35.55% | -- | +25.99% |
Axis India Manufacturing vs Canara Robeco Manufacturing: Rolling Returns
Every holding period of both funds, against Nifty India Manufacturing TRI, the benchmark of both
Rolling returns
Every 1-year holding period, 406 of them, one for each trading day from 17-03-2025 to 30-10-2026: the yearly return (CAGR) of each, plotted on the day it ended. One lucky or unlucky start day cannot flatter or hide a fund.
Axis India Manufacturing Fund (Direct)
Canara Robeco Manufacturing Fund (Direct)
Nifty India Manufacturing TRI
to
May 2025Aug 2024
to
Aug 2025Nov 2024
to
Nov 2025Mar 2025
to
Mar 2026Jun 2025
to
Jun 2026Sept 2025
to
Sept 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Axis India Manufacturing | 17.7 | 14.8 | 23.6 | 23.2 | 13.8 | 6.2 | 0.7 | 8.6% | 8.9% | −5.5% | 27.9% | 52% |
| Canara Robeco Manufacturing | 16.8 | 22.0 | 23.3 | 21.0 | 13.3 | 3.5 | 0.3 | 7.6% | 7.6% | −4.8% | 25.1% | 57% |
| Nifty India Manufacturing TRI | 20.2 | 15.8 | 18.7 | 26.4 | 11.6 | 5.4 | 2.0 | 8.3% | 8.5% | −6.6% | 31.0% | -- |
The table shows the % of periods in each return band; a darker cell holds more of them. Lumpsum: the yearly rate (CAGR) from a period's first NAV to its last. SIP: the XIRR of the monthly instalments. The benchmark is Nifty India Manufacturing TRI, over the same periods. "Beat benchmark" counts the periods in which the fund did better. Every fund is measured over the days all of them have, from 15-03-2024. Past returns do not promise future returns.
Axis India Manufacturing vs Canara Robeco Manufacturing: SIP and Lumpsum Returns
What the same monthly or one-time investment would be worth in each fund today, from their own NAV history
Growth of an investment
₹10,000 on the first trading day of every month, from 01-03-2024 to 30-10-2026: 32 instalments, ₹3,20,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Axis India ManufacturingAxis India Manufacturing Fund (Direct) | ₹3,20,000 | ₹3,64,551 | ₹44,551 | 9.8% |
| Canara Robeco ManufacturingCanara Robeco Manufacturing Fund (Direct) | ₹3,20,000 | ₹3,43,984 | ₹23,984 | 5.4% |
Axis India ManufacturingAxis India Manufacturing Fund (Direct)
Canara Robeco ManufacturingCanara Robeco Manufacturing Fund (Direct)
Amount invested
From each plan's published NAV (Growth option), over the same days. Return a year: XIRR for a SIP, CAGR for a lumpsum, shown for a year or more. It does not include exit load, stamp duty or tax. Past returns do not promise future returns.
Axis India Manufacturing vs Canara Robeco Manufacturing: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Axis India Manufacturing Fund (Direct) | Canara Robeco Manufacturing Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.28% | +0.83% |
| Standard deviation | 16.09% | 16.95% |
| Sharpe ratio | 0.19 | -0.26 |
| Sortino ratio | 0.26 | -0.35 |
| Maximum drawdown | −10.9% (23-10-2026) | −12.2% (23-10-2026) |
| Beta | 0.98 | 1.00 |
| Alpha | +9.84% | +2.56% |
From daily NAVs, 30-10-2025 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
| Measure | Axis India Manufacturing Fund (Direct) | Canara Robeco Manufacturing Fund (Direct) |
|---|---|---|
| Return (CAGR) | +17.32% | +12.07% |
| Standard deviation | 15.99% | 17.10% |
| Sharpe ratio | 0.71 | 0.36 |
| Sortino ratio | 0.96 | 0.48 |
| Maximum drawdown | −23.0% (28-02-2025) | −24.2% (28-02-2025) |
| Beta | 0.96 | 0.99 |
| Alpha | +5.12% | +1.50% |
From daily NAVs, 27-12-2023 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
Drawdowns
How far below its previous high each one was on every day: the falls an investor had to sit through. 0% means it was at a new high.
Axis India Manufacturing Fund (Direct)
Canara Robeco Manufacturing Fund (Direct)
Nifty India Manufacturing TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Axis India Manufacturing Fund (Direct) | −23.0% | 27-09-2024 | 28-02-2025 | 29-04-2026 | 14 months | −7.2% |
| Canara Robeco Manufacturing Fund (Direct) | −24.2% | 27-09-2024 | 28-02-2025 | 29-04-2026 | 14 months | −10.1% |
| Nifty India Manufacturing TRI | −23.0% | 27-09-2024 | 07-04-2025 | 05-01-2026 | 9 months | −10.5% |
From daily values since 15-03-2024, the first day every fund has.
Rolling standard deviation
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 1-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Axis India Manufacturing Fund (Direct)
Canara Robeco Manufacturing Fund (Direct)
Nifty India Manufacturing TRI
Against Nifty India Manufacturing TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Axis India Manufacturing Fund (Direct) | 105% | 88% | 4.55% |
| Canara Robeco Manufacturing Fund (Direct) | 109% | 101% | 7.19% |
From month-end values since 15-03-2024. Up capture: a fund's average month when the benchmark rose, as % of the benchmark's; above 100% it gained more. Down capture: the same for months the benchmark fell; below 100% it fell less. Tracking error: how far the monthly returns strayed from the benchmark's, a year; an index fund aims near 0.
Axis India Manufacturing vs Canara Robeco Manufacturing: Portfolio Overlap
From each fund's latest monthly portfolio: Axis India Manufacturing Fund, September 2026; Canara Robeco Manufacturing Fund, September 2026
Holdings in common
- Overlap
- 41.0%
- Held by both
- 29
- Only in Axis India Manufacturing
- 44
- Only in Canara Robeco Manufacturing
- 29
| Security | % of Axis India Manufacturing | % of Canara Robeco Manufacturing |
|---|---|---|
| Mahindra & Mahindra Limited | 4.82% | 5.07% |
| Bharat Electronics Limited | 2.95% | 4.49% |
| Divi's Laboratories Limited | 3.57% | 2.60% |
| Bharat Heavy Electricals Limited | 2.48% | 3.43% |
| Apar Industries Limited | 2.11% | 2.13% |
| GE Vernova T&D India Limited | 2.10% | 3.43% |
| Torrent Pharmaceuticals Limited | 2.11% | 1.83% |
| Cummins India Limited | 2.39% | 1.78% |
| Solar Industries India Limited | 1.78% | 2.39% |
| Hindustan Aeronautics Limited | 1.75% | 2.98% |
| Bajaj Auto Limited | 1.56% | 3.15% |
| Indo-MIM Limited | 1.49% | 1.60% |
| Tata Steel Limited | 1.46% | 3.49% |
| UltraTech Cement Limited | 1.37% | 1.49% |
| Gland Pharma Limited | 1.21% | 2.21% |
| Premier Energies Limited | 1.19% | 3.20% |
| Amber Enterprises India Limited | 1.08% | 1.62% |
| Reliance Industries Limited | 2.81% | 1.01% |
| Dixon Technologies (India) Limited | 1.24% | 1.00% |
| CG Power and Industrial Solutions Limited | 1.30% | 0.90% |
| Syrma SGS Technology Limited | 0.87% | 3.87% |
| TD Power Systems Limited | 2.12% | 0.63% |
| Dhoot Transmission Ltd | 0.81% | 0.61% |
| Triveni Turbine Limited | 0.54% | 0.94% |
| SRF Limited | 0.52% | 1.06% |
| Kirloskar Oil Engines Limited | 0.52% | 1.06% |
| MTAR Technologies Limited | 0.44% | 1.81% |
| KEI Industries Limited | 0.20% | 1.26% |
| Rubicon Research Limited | 0.19% | 3.05% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 41.0% means 41.0% of each fund's money sits in positions the other also holds. Matched by ISIN. Cash and hedged positions are left out.
Largest holdings only in Axis India Manufacturing Fund
| Security | % of fund |
|---|---|
| Sun Pharmaceutical Industries Limited | 3.61% |
| Sona BLW Precision Forgings Limited | 3.21% |
| TVS Motor Company Limited | 2.81% |
| Samvardhana Motherson International Limited | 2.26% |
| Hindalco Industries Limited | 2.26% |
Largest holdings only in Canara Robeco Manufacturing Fund
| Security | % of fund |
|---|---|
| Coal India Ltd | 2.19% |
| Tata Motors Ltd | 2.08% |
| LG Electronics India Ltd | 1.88% |
| Innova Captab Ltd | 1.86% |
| J.K. Cement Ltd | 1.64% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Axis India Manufacturing | Canara Robeco Manufacturing |
|---|---|---|
| Equity | 96.9% | 96.9% |
| Debt | 0.0% | 0.0% |
| Cash and others | 3.1% | 3.1% |
Market cap of stocks
| Market cap | Axis India Manufacturing | Canara Robeco Manufacturing |
|---|---|---|
| Large Cap | 50.9% | 41.8% |
| Mid Cap | 19.0% | 16.5% |
| Small Cap | 22.6% | 34.7% |
| Not on AMFI's list | 4.4% | 3.9% |
Share of the whole fund. Groups follow AMFI's latest list: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.
Largest sectors
| Sector | Axis India Manufacturing | Canara Robeco Manufacturing |
|---|---|---|
| Electrical Equipment | 14.5% | 16.5% |
| Auto Components | 15.4% | 4.5% |
| Pharmaceuticals & Biotechnology | 14.9% | 12.2% |
| Automobiles | 14.5% | 8.2% |
| Industrial Products | 7.4% | 9.3% |
| Consumer Durables | 4.1% | 7.8% |
| Aerospace & Defense | 5.3% | 7.5% |
The six largest sectors of each fund's stocks, % of the fund.
Axis India Manufacturing vs Canara Robeco Manufacturing: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Axis India Manufacturing Fund | Canara Robeco Manufacturing Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.93% | 1.01% |
| Base expense ratio (Direct) | 0.62% | 0.71% |
| Total expense ratio (Regular) | 2.09% | 2.27% |
| Base expense ratio (Regular) | 1.60% | 1.80% |
The expense ratio comes out of the fund's assets every day, so every return on this page is already after it. Base expense ratio: the fund house's own fee. The total adds brokerage, transaction costs, and levies with GST.
More comparisons
Each fund against the others of its category
Compare Axis India Manufacturing with
Compare Canara Robeco Manufacturing with
Axis India Manufacturing Fund vs Canara Robeco Manufacturing Fund: Frequently Asked Questions
What is the difference between Axis India Manufacturing Fund and Canara Robeco Manufacturing Fund?
Axis India Manufacturing Fund is a Thematic fund, Canara Robeco Manufacturing Fund is a Thematic fund, run by Axis Mutual Fund and Canara Robeco Mutual Fund. Their portfolios overlap 41.0%. Axis India Manufacturing Fund charges 0.93% a year and Canara Robeco Manufacturing Fund 1.01%.
Which has given higher returns, Axis India Manufacturing Fund or Canara Robeco Manufacturing Fund?
Over 1 year: Axis India Manufacturing Fund +8.28%, Canara Robeco Manufacturing Fund +0.83%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Axis India Manufacturing Fund or Canara Robeco Manufacturing Fund?
Axis India Manufacturing Fund charges less: 0.93% a year against 1.01%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Axis India Manufacturing Fund and Canara Robeco Manufacturing Fund overlap?
41.0%. They hold 29 of the same securities, the largest shared ones being M&M, BEL, DIVISLAB. From each fund's latest monthly portfolio.
Which is riskier, Axis India Manufacturing Fund or Canara Robeco Manufacturing Fund?
On SEBI's riskometer, Axis India Manufacturing Fund is rated Very High and Canara Robeco Manufacturing Fund Very High. Over 1 years, the standard deviation of daily returns was 16.09% and 16.95% a year.
Can I invest in both Axis India Manufacturing Fund and Canara Robeco Manufacturing Fund?
Yes. 41.0% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Axis India Manufacturing Fund and Canara Robeco Manufacturing Fund?
Axis India Manufacturing Fund: Nitin Arora. Canara Robeco Manufacturing Fund: Pranav Gokhale / Mr. Shobhit Tiwari.
Sources: NAV and expense ratio from AMFI. Holdings from each fund house's monthly portfolio statement. Fund facts from each scheme summary document.
This page is information, not investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Past returns do not promise future returns. Figures come from AMFI, NSE, BSE and each fund house's own documents.