Axis Nifty 100 Index Fund vs Kotak MSCI India ETF
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
Axis Nifty 100 Index Fund is an Index fund and Kotak MSCI India ETF is an ETF fund. In the year to 30-10-2026, Axis Nifty 100 Index Fund (Direct) returned −8.9% and Kotak MSCI India ETF returned −8.0%. Axis Nifty 100 Index Fund charges 0.26% a year and Kotak MSCI India ETF 0.24%. Their portfolios overlap 80.9%: they hold 94 of the same securities.
Axis Nifty 100 Index Fund
Index
- 1 year return
- −8.9%
- Expense ratio
- 0.26%
- NAV
- ₹21.51
Which is better, Axis Nifty 100 Index or Kotak MSCI India ETF? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Kotak MSCI India ETF returned more over 1 year: −8.0% against −8.9%.
- Kotak MSCI India ETF costs less: 0.24% a year against 0.26%.
- Kotak MSCI India ETF fell less in its worst fall since 25-02-2025: −14.6% against −14.9%.
- Axis Nifty 100 Index holds more in large companies: 98.0% of the fund in large caps against 80.6%.
- Axis Nifty 100 Index is the larger fund: ₹1,989 Cr against ₹1,749 Cr.
- Their portfolios overlap 80.9%: 94 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 Nifty 100 Index Fund | Kotak MSCI India ETF |
|---|---|---|
| Fund house | Axis Mutual Fund | Kotak Mahindra Mutual Fund |
| Category | Index | ETF |
| AUM | ₹1,989 Cr (30-09-2026) | ₹1,749 Cr (30-09-2026) |
| NAV | ₹21.51 (Direct) | ₹28.23 |
| Expense ratio (Direct) | 0.26% | Not available |
| Expense ratio (Regular) | 0.97% | Not available |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 100 TRI | MSCI India TRI |
| Launch date | 18-10-2019 | 19-02-2025 |
| Minimum investment | ₹100 | Ongoing purchases directly from the Mutual Fund would be restricted to Market Makers and Large Investors (subject to transactions greater than INR 25 crores or such other amount as may be specified by SEBI from time to time) provided the value of units to |
| Lock in | None | None |
| Fund managers | Nandik Malik, Rohit Gautam | Satish Dondapati, Abhishek Bisen, Jeetu Valechha Sonar |
| Exit load | Nil | NIL |
Axis Nifty 100 Index vs Kotak MSCI India ETF: 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 Nifty 100 Index Fund (Direct) | +1.02% | −5.36% | −3.09% | −8.92% | +8.79% | +6.97% | -- |
| Kotak MSCI India ETF | +0.29% | −5.98% | −3.50% | −8.03% | -- | -- | -- |
Axis Nifty 100 Index vs Kotak MSCI India ETF: Year-wise Returns
| Year | Axis Nifty 100 IndexAxis Nifty 100 Index | Kotak MSCI India ETFKotak MSCI India ETF |
|---|---|---|
| 2026to date | −9.51% | −8.95% |
| 2025 | +10.02% | -- |
| 2024 | +12.57% | -- |
| 2023 | +20.95% | -- |
| 2022 | +4.79% | -- |
| 2021 | +25.90% | -- |
Axis Nifty 100 Index vs Kotak MSCI India ETF: Rolling Returns
Every holding period of both funds, against Nifty 100 TRI, the benchmark of Axis Nifty 100 Index Fund
Rolling returns
Every 1-year holding period, 168 of them, one for each trading day from 25-02-2026 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 Nifty 100 Index Fund (Direct)
Kotak MSCI India ETF
Nifty 100 TRI
to
Mar 2026Apr 2025
to
Apr 2026Jun 2025
to
Jun 2026Jul 2025
to
Jul 2026Aug 2025
to
Aug 2026Oct 2025
to
Oct 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 Nifty 100 Index | 60.1 | 26.2 | 8.9 | 3.6 | 1.2 | 0.0 | 0.0 | −0.4% | −1.0% | −10.7% | 16.2% | 0% |
| Kotak MSCI India ETF | 46.4 | 36.7 | 11.4 | 3.6 | 1.8 | 0.0 | 0.0 | 0.9% | 0.2% | −9.8% | 15.8% | 100% |
| Nifty 100 TRI | 58.9 | 27.4 | 8.3 | 3.6 | 1.8 | 0.0 | 0.0 | −0.2% | −0.8% | −10.5% | 16.4% | -- |
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 100 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 25-02-2025. Past returns do not promise future returns.
Axis Nifty 100 Index vs Kotak MSCI India ETF: 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 03-02-2025 to 30-10-2026: 21 instalments, ₹2,10,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Axis Nifty 100 IndexAxis Nifty 100 Index Fund (Direct) | ₹2,10,000 | ₹2,03,132 | −₹6,868 | −3.6% |
| Kotak MSCI India ETFKotak MSCI India ETF | ₹2,10,000 | ₹2,04,302 | −₹5,698 | −3.0% |
Axis Nifty 100 IndexAxis Nifty 100 Index Fund (Direct)
Kotak MSCI India ETFKotak MSCI India ETF
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 Nifty 100 Index vs Kotak MSCI India ETF: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Axis Nifty 100 Index Fund (Direct) | Kotak MSCI India ETF |
|---|---|---|
| Return (CAGR) | −8.92% | −8.03% |
| Standard deviation | 13.88% | 14.22% |
| Sharpe ratio | -1.02 | -0.93 |
| Sortino ratio | -1.36 | -1.24 |
| Maximum drawdown | −14.9% (31-03-2026) | −14.6% (31-03-2026) |
| Beta | 1.00 | -- |
| Alpha | −0.24% | -- |
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 Nifty 100 Index Fund (Direct) | Kotak MSCI India ETF |
|---|---|---|
| Return (CAGR) | +11.58% | +4.02% |
| Standard deviation | 17.02% | 13.78% |
| Sharpe ratio | 0.38 | -0.10 |
| Sortino ratio | 0.51 | -0.14 |
| Maximum drawdown | −37.0% (23-03-2020) | −14.6% (31-03-2026) |
| Beta | 0.99 | -- |
| Alpha | −0.21% | -- |
From daily NAVs, 23-10-2019 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 Nifty 100 Index Fund (Direct)
Kotak MSCI India ETF
Nifty 100 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Axis Nifty 100 Index Fund (Direct) | −14.9% | 02-01-2026 | 31-03-2026 | Not yet | -- | −10.3% |
| Kotak MSCI India ETF | −14.6% | 02-01-2026 | 31-03-2026 | Not yet | -- | −10.1% |
| Nifty 100 TRI | −14.9% | 02-01-2026 | 30-03-2026 | Not yet | -- | −10.1% |
From daily values since 25-02-2025, 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 Nifty 100 Index Fund (Direct)
Kotak MSCI India ETF
Nifty 100 TRI
Against Nifty 100 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Axis Nifty 100 Index Fund (Direct) | 99% | 100% | 0.02% |
| Kotak MSCI India ETF | 101% | 98% | 1.10% |
From month-end values since 25-02-2025. 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 Nifty 100 Index vs Kotak MSCI India ETF: Portfolio Overlap
From each fund's latest monthly portfolio: Axis Nifty 100 Index Fund, September 2026; Kotak MSCI India ETF, September 2026
Holdings in common
- Overlap
- 80.9%
- Held by both
- 94
- Only in Axis Nifty 100 Index
- 6
- Only in Kotak MSCI India ETF
- 71
| Security | % of Axis Nifty 100 Index | % of Kotak MSCI India ETF |
|---|---|---|
| HDFC Bank Limited | 8.42% | 6.44% |
| ICICI Bank Limited | 7.34% | 5.60% |
| Reliance Industries Limited | 6.15% | 5.44% |
| Bharti Airtel Limited | 4.14% | 3.93% |
| Infosys Limited | 2.72% | 2.41% |
| Axis Bank Limited | 2.73% | 2.25% |
| Mahindra & Mahindra Limited | 2.04% | 2.05% |
| Larsen & Toubro Limited | 3.41% | 2.02% |
| Bajaj Finance Limited | 2.03% | 1.91% |
| Kotak Mahindra Bank Limited | 2.38% | 1.82% |
| State Bank of India | 3.07% | 1.41% |
| Tata Consultancy Services Limited | 1.62% | 1.33% |
| Sun Pharmaceutical Industries Limited | 1.49% | 1.30% |
| Titan Company Limited | 1.47% | 1.30% |
| Eternal Limited | 1.80% | 1.22% |
| Maruti Suzuki India Limited | 1.21% | 1.13% |
| NTPC Limited | 1.19% | 1.12% |
| Tata Steel Limited | 1.18% | 1.10% |
| Bharat Electronics Limited | 1.08% | 1.08% |
| Shriram Finance Limited | 1.07% | 1.11% |
| Hindustan Unilever Limited | 1.29% | 1.06% |
| Hindalco Industries Limited | 1.06% | 0.97% |
| UltraTech Cement Limited | 1.00% | 0.90% |
| Divi's Laboratories Limited | 0.91% | 0.89% |
| HCL Technologies Limited | 1.00% | 0.87% |
| Power Grid Corporation of India Limited | 0.91% | 0.87% |
| Adani Ports and Special Economic Zone Limited | 1.09% | 0.83% |
| Eicher Motors Limited | 0.76% | 0.78% |
| InterGlobe Aviation Limited | 0.87% | 0.75% |
| TVS Motor Company Limited | 0.75% | 0.78% |
| Asian Paints Limited | 0.84% | 0.74% |
| Grasim Industries Limited | 0.90% | 0.66% |
| Tech Mahindra Limited | 0.75% | 0.66% |
| Apollo Hospitals Enterprise Limited | 0.65% | 0.66% |
| ITC Limited | 1.96% | 0.63% |
| Hindustan Aeronautics Limited | 0.69% | 0.62% |
| Tata Motors Ltd | 0.68% | 0.62% |
| JSW Steel Limited | 0.93% | 0.61% |
| Adani Enterprises Limited | 0.76% | 0.60% |
| Nestle India Limited | 0.73% | 0.60% |
| SBI Life Insurance Company Limited | 0.59% | 0.61% |
| Bajaj Auto Limited | 0.92% | 0.58% |
| Trent Limited | 0.68% | 0.56% |
| Samvardhana Motherson International Limited | 0.56% | 0.55% |
| Torrent Pharmaceuticals Limited | 0.55% | 0.55% |
| Cipla Limited | 0.59% | 0.54% |
| Cholamandalam Investment and Finance Company Ltd | 0.54% | 0.55% |
| Bajaj Finserv Limited | 0.78% | 0.53% |
| Adani Power Limited | 0.66% | 0.53% |
| Coal India Limited | 0.79% | 0.52% |
| Max Healthcare Institute Limited | 0.54% | 0.52% |
| Cummins India Limited | 0.50% | 0.50% |
| BSE Limited | 0.98% | 0.49% |
| Dr. Reddy's Laboratories Limited | 0.58% | 0.49% |
| Oil & Natural Gas Corporation Limited | 0.68% | 0.46% |
| Jio Financial Services Limited | 0.55% | 0.46% |
| Vedanta Aluminium Metal Limited | 0.54% | 0.45% |
| Avenue Supermarts Limited | 0.48% | 0.44% |
| Varun Beverages Limited | 0.46% | 0.44% |
| Tata Power Company Limited | 0.47% | 0.43% |
| CG Power and Industrial Solutions Limited | 0.45% | 0.43% |
| Tata Motors Passenger Vehicles Limited | 0.46% | 0.42% |
| Britannia Industries Limited | 0.44% | 0.42% |
| Tata Consumer Products Limited | 0.48% | 0.41% |
| HDFC Life Insurance Company Limited | 0.43% | 0.41% |
| Bharat Petroleum Corporation Limited | 0.47% | 0.39% |
| Solar Industries India Limited | 0.37% | 0.36% |
| HDFC Asset Management Company Limited | 0.36% | 0.35% |
| Power Finance Corporation Limited | 0.37% | 0.34% |
| Pidilite Industries Limited | 0.35% | 0.33% |
| Polycab India Limited | 0.33% | 0.34% |
| DLF Limited | 0.33% | 0.33% |
| Jindal Steel Limited | 0.33% | 0.32% |
| GAIL (India) Limited | 0.36% | 0.31% |
| Indian Oil Corporation Limited | 0.39% | 0.30% |
| Hitachi Energy India Limited | 0.30% | 0.30% |
| Wipro Limited | 0.33% | 0.29% |
| Vedanta Limited | 0.35% | 0.28% |
| Vodafone Idea Limited | 0.28% | 0.27% |
| Godrej Consumer Products Limited | 0.26% | 0.26% |
| Bosch Limited | 0.32% | 0.25% |
| ABB India Limited | 0.28% | 0.25% |
| Bajaj Holdings & Investment Limited | 0.36% | 0.23% |
| Siemens Limited | 0.26% | 0.23% |
| Muthoot Finance Limited | 0.23% | 0.24% |
| Adani Energy Solutions Limited | 0.33% | 0.22% |
| Punjab National Bank | 0.30% | 0.21% |
| LTM Limited | 0.29% | 0.21% |
| Union Bank of India | 0.26% | 0.21% |
| Siemens Energy India Limited | 0.22% | 0.21% |
| Bank of Baroda | 0.33% | 0.19% |
| Ambuja Cements Limited | 0.18% | 0.18% |
| Canara Bank | 0.31% | 0.17% |
| Zydus Lifesciences Limited | 0.22% | 0.17% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 80.9% means 80.9% 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 Nifty 100 Index Fund
| Security | % of fund |
|---|---|
| Adani Green Energy Limited | 0.33% |
| Hyundai Motor India Ltd | 0.22% |
| Hindustan Zinc Limited | 0.21% |
| Indian Railway Finance Corporation Limited | 0.14% |
| Tata Capital Limited | 0.14% |
Largest holdings only in Kotak MSCI India ETF
| Security | % of fund |
|---|---|
| Laurus Labs Ltd | 0.55% |
| One 97 Communications Ltd | 0.51% |
| Hero MotoCorp Ltd. | 0.50% |
| INDIAN HOTELS CO LTD | 0.48% |
| FEDERAL BANK LTD. | 0.46% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Axis Nifty 100 Index | Kotak MSCI India ETF |
|---|---|---|
| Equity | 100.0% | 100.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | -0.0% | 0.0% |
Market cap of stocks
| Market cap | Axis Nifty 100 Index | Kotak MSCI India ETF |
|---|---|---|
| Large Cap | 98.0% | 80.6% |
| Mid Cap | 2.0% | 19.4% |
| Small Cap | 0.0% | 0.0% |
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 Nifty 100 Index | Kotak MSCI India ETF |
|---|---|---|
| Banks | 25.1% | 20.3% |
| Petroleum Products | 7.0% | 6.4% |
| IT - Software | 6.7% | 6.6% |
| Automobiles | 6.4% | 6.2% |
| Finance | 6.2% | 6.3% |
| Pharmaceuticals and Biotechnology | 0.0% | 5.6% |
| Telecom - Services | 4.4% | 4.7% |
The six largest sectors of each fund's stocks, % of the fund.
Axis Nifty 100 Index vs Kotak MSCI India ETF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Axis Nifty 100 Index Fund | Kotak MSCI India ETF |
|---|---|---|
| Total expense ratio (Direct) | 0.26% | Not available |
| Base expense ratio (Direct) | 0.18% | 0.00% |
| Total expense ratio (Regular) | 0.97% | Not available |
| Base expense ratio (Regular) | 0.79% | 0.17% |
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.
Axis Nifty 100 Index Fund vs Kotak MSCI India ETF: Frequently Asked Questions
What is the difference between Axis Nifty 100 Index Fund and Kotak MSCI India ETF?
Axis Nifty 100 Index Fund is an Index fund, Kotak MSCI India ETF is an ETF fund, run by Axis Mutual Fund and Kotak Mahindra Mutual Fund. Their portfolios overlap 80.9%. Axis Nifty 100 Index Fund charges 0.26% a year and Kotak MSCI India ETF 0.24%.
Which has given higher returns, Axis Nifty 100 Index Fund or Kotak MSCI India ETF?
Over 1 year: Axis Nifty 100 Index Fund −8.92%, Kotak MSCI India ETF −8.03%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Axis Nifty 100 Index Fund or Kotak MSCI India ETF?
Kotak MSCI India ETF charges less: 0.24% a year against 0.26%. These are the total expense ratios reported to AMFI.
How much do Axis Nifty 100 Index Fund and Kotak MSCI India ETF overlap?
80.9%. They hold 94 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, RELIANCE. From each fund's latest monthly portfolio.
Which is riskier, Axis Nifty 100 Index Fund or Kotak MSCI India ETF?
On SEBI's riskometer, Axis Nifty 100 Index Fund is rated Very High and Kotak MSCI India ETF Very High. Over 1 years, the standard deviation of daily returns was 13.88% and 14.22% a year.
Can I invest in both Axis Nifty 100 Index Fund and Kotak MSCI India ETF?
Yes. 80.9% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Axis Nifty 100 Index Fund and Kotak MSCI India ETF?
Axis Nifty 100 Index Fund: Nandik Malik, Rohit Gautam. Kotak MSCI India ETF: Satish Dondapati, Abhishek Bisen, Jeetu Valechha Sonar.
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.