Axis Value Fund vs Tata India Innovation Fund
Direct Plan, Growth option · Data as on 30-10-2026
Axis Value Fund is a Value and Contra fund and Tata India Innovation Fund is a Thematic fund. In the year to 30-10-2026, Axis Value Fund (Direct) returned 1.2% and Tata India Innovation Fund (Direct) returned −1.9%. Axis Value Fund charges 0.88% a year and Tata India Innovation Fund 0.97% (Direct plans). Their portfolios overlap 35.5%: they hold 26 of the same securities.
Tata India Innovation Fund
Thematic
- 1 year return
- −1.9%
- Expense ratio
- 0.97%
- NAV
- ₹10.02
Which is better, Axis Value or Tata India Innovation? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Axis Value returned more over 1 year: 1.2% against −1.9%.
- Axis Value costs less: 0.88% a year against 0.97% (Direct plans).
- Axis Value fell less in its worst fall since 05-12-2024: −15.2% against −18.1%.
- Axis Value holds more in large companies: 57.1% of the fund in large caps against 42.6%.
- Axis Value is the larger fund: ₹1,836 Cr against ₹1,245 Cr.
- Their portfolios overlap 35.5%: 26 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 Value Fund | Tata India Innovation Fund |
|---|---|---|
| Fund house | Axis Mutual Fund | Tata Mutual Fund |
| Category | Value and Contra | Thematic |
| AUM | ₹1,836 Cr (30-09-2026) | ₹1,245 Cr (30-09-2026) |
| NAV | ₹20.68 (Direct) | ₹10.02 (Direct) |
| Expense ratio (Direct) | 0.88% | 0.97% |
| Expense ratio (Regular) | 2.22% | 2.37% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | Nifty 500 TRI |
| Launch date | 22-09-2021 | 28-11-2024 |
| Minimum investment | ₹100 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Nitin Arora, Krishnaa N | Meeta Shetty, Hasmukh Vishariya |
| Exit load | Exit Load for units in excess of 20% of the investment,1% will be charged for redemption within 12 months. | Exit load of 0.50%, if redeemed within 30 days. |
Axis Value vs Tata India Innovation: 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 Value Fund (Direct) | −0.67% | −2.13% | +3.50% | +1.22% | +17.74% | +14.91% | -- |
| Tata India Innovation Fund (Direct) | −0.27% | −3.35% | +6.88% | −1.91% | -- | -- | -- |
| Value and Contra average | −2.09% | −5.76% | −3.23% | −5.72% | +11.83% | +11.08% | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | -- | -- | -- |
Category average: the average of the 30 Value and Contra funds and the 235 Thematic funds, same plan type.
Axis Value vs Tata India Innovation: Year-wise Returns
| Year | Axis ValueAxis Value | Tata India InnovationTata India Innovation | Nifty 500 TRI |
|---|---|---|---|
| 2026to date | +0.88% | −0.43% | −7.51% |
| 2025 | +6.44% | −0.34% | +7.76% |
| 2024 | +29.70% | -- | +16.24% |
| 2023 | +42.11% | -- | +26.91% |
| 2022 | +0.48% | -- | +4.25% |
Axis Value vs Tata India Innovation: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of both
Rolling returns
Every 1-year holding period, 224 of them, one for each trading day from 05-12-2025 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 Value Fund (Direct)
Tata India Innovation Fund (Direct)
Nifty 500 TRI
to
Dec 2025Feb 2025
to
Feb 2026Apr 2025
to
Apr 2026Jun 2025
to
Jun 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 Value | 0.4 | 18.3 | 43.8 | 28.1 | 8.0 | 1.3 | 0.0 | 8.8% | 7.7% | −0.8% | 21.9% | 89% |
| Tata India Innovation | 23.1 | 54.3 | 22.6 | 0.0 | 0.0 | 0.0 | 0.0 | 2.6% | 2.6% | −5.5% | 9.7% | 56% |
| Nifty 500 TRI | 26.3 | 34.4 | 27.2 | 8.9 | 3.1 | 0.0 | 0.0 | 3.6% | 2.7% | −9.0% | 17.6% | -- |
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 500 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 05-12-2024. Past returns do not promise future returns.
Axis Value vs Tata India Innovation: 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 02-12-2024 to 30-10-2026: 23 instalments, ₹2,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Axis ValueAxis Value Fund (Direct) | ₹2,30,000 | ₹2,43,464 | ₹13,464 | 5.8% |
| Tata India InnovationTata India Innovation Fund (Direct) | ₹2,30,000 | ₹2,37,913 | ₹7,913 | 3.4% |
Axis ValueAxis Value Fund (Direct)
Tata India InnovationTata India Innovation 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 Value vs Tata India Innovation: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Axis Value Fund (Direct) | Tata India Innovation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +1.22% | −1.91% |
| Standard deviation | 14.09% | 14.35% |
| Sharpe ratio | -0.29 | -0.50 |
| Sortino ratio | -0.38 | -0.68 |
| Maximum drawdown | −12.1% (30-03-2026) | −16.8% (23-03-2026) |
| Beta | 0.96 | 0.95 |
| Alpha | +8.07% | +4.76% |
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 Value Fund (Direct) | Tata India Innovation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.35% | −0.65% |
| Standard deviation | 14.41% | 14.70% |
| Sharpe ratio | 0.67 | -0.42 |
| Sortino ratio | 0.90 | -0.57 |
| Maximum drawdown | −20.2% (20-06-2022) | −18.1% (07-04-2025) |
| Beta | 0.96 | 0.98 |
| Alpha | +6.80% | +1.43% |
From daily NAVs, 28-09-2021 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 Value Fund (Direct)
Tata India Innovation Fund (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Axis Value Fund (Direct) | −15.2% | 16-12-2024 | 28-02-2025 | 16-09-2025 | 7 months | −6.0% |
| Tata India Innovation Fund (Direct) | −18.1% | 02-01-2025 | 07-04-2025 | 19-09-2025 | 5 months | −5.5% |
| Nifty 500 TRI | −14.7% | 13-12-2024 | 28-02-2025 | 09-06-2025 | 3 months | −8.4% |
From daily values since 05-12-2024, 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 Value Fund (Direct)
Tata India Innovation Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Axis Value Fund (Direct) | 111% | 92% | 3.88% |
| Tata India Innovation Fund (Direct) | 85% | 85% | 6.57% |
From month-end values since 05-12-2024. 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 Value vs Tata India Innovation: Portfolio Overlap
From each fund's latest monthly portfolio: Axis Value Fund, September 2026; Tata India Innovation Fund, September 2026
Holdings in common
- Overlap
- 35.5%
- Held by both
- 26
- Only in Axis Value
- 60
- Only in Tata India Innovation
- 34
| Security | % of Axis Value | % of Tata India Innovation |
|---|---|---|
| ICICI Bank Limited | 5.28% | 5.07% |
| HDFC Bank Limited | 4.54% | 4.13% |
| Reliance Industries Limited | 3.22% | 3.50% |
| Bharti Airtel Limited | 2.41% | 3.17% |
| Mahindra & Mahindra Limited | 1.74% | 2.49% |
| Tech Mahindra Limited | 1.64% | 2.72% |
| Eternal Limited | 1.58% | 2.96% |
| Axis Bank Limited | 1.48% | 3.41% |
| Infosys Limited | 1.90% | 1.40% |
| RBL Bank Limited | 1.59% | 1.33% |
| Kotak Mahindra Bank Limited | 1.19% | 1.51% |
| Ather Energy Limited | 1.11% | 1.90% |
| Torrent Pharmaceuticals Limited | 1.81% | 1.08% |
| Karur Vysya Bank Limited | 0.94% | 1.70% |
| Sona BLW Precision Forgings Limited | 2.29% | 0.90% |
| Samvardhana Motherson International Limited | 0.89% | 1.20% |
| Craftsman Automation Limited | 0.85% | 0.97% |
| Vijaya Diagnostic Centre Limited | 0.80% | 1.12% |
| State Bank of India | 2.19% | 0.77% |
| Healthcare Global Enterprises Limited | 0.59% | 1.27% |
| PB Fintech Limited | 0.54% | 1.54% |
| Swiggy Limited | 0.46% | 1.54% |
| Dixon Technologies (India) Limited | 0.46% | 2.18% |
| Piramal Pharma Limited | 0.40% | 0.66% |
| CG Power and Industrial Solutions Limited | 0.27% | 0.34% |
| Firstsource Solutions Limited | 0.24% | 1.51% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 35.5% means 35.5% 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 Value Fund
| Security | % of fund |
|---|---|
| Welspun Corp Limited | 2.53% |
| Shriram Finance Limited | 2.43% |
| NTPC Limited | 2.20% |
| Larsen & Toubro Limited | 2.04% |
| Bharat Heavy Electricals Limited | 2.00% |
Largest holdings only in Tata India Innovation Fund
| Security | % of fund |
|---|---|
| ADANI PORTS AND SPECIAL ECONOMIC ZONE LTD | 3.74% |
| DR. LAL PATH LABS LTD | 2.73% |
| VISHAL MEGA MART LTD | 2.24% |
| MARUTI SUZUKI INDIA LTD | 2.07% |
| TBO TEK LTD | 1.89% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Axis Value | Tata India Innovation |
|---|---|---|
| Equity | 93.0% | 91.6% |
| Debt | 0.0% | 0.0% |
| Cash and others | 7.0% | 8.4% |
Market cap of stocks
| Market cap | Axis Value | Tata India Innovation |
|---|---|---|
| Large Cap | 57.1% | 42.6% |
| Mid Cap | 15.3% | 13.4% |
| Small Cap | 19.5% | 33.3% |
| Not on AMFI's list | 1.1% | 2.3% |
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 Value | Tata India Innovation |
|---|---|---|
| Banks | 21.4% | 17.9% |
| Healthcare Services | 4.3% | 10.5% |
| Pharmaceuticals & Biotechnology | 5.6% | 7.8% |
| Electrical Equipment | 7.1% | 2.1% |
| Finance | 7.1% | 0.0% |
| Retailing | 2.0% | 7.0% |
| Auto Components | 6.6% | 6.6% |
| Automobiles | 5.5% | 6.5% |
The six largest sectors of each fund's stocks, % of the fund.
Axis Value vs Tata India Innovation: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Axis Value Fund | Tata India Innovation Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.88% | 0.97% |
| Base expense ratio (Direct) | 0.60% | 0.66% |
| Total expense ratio (Regular) | 2.22% | 2.37% |
| Base expense ratio (Regular) | 1.78% | 1.86% |
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 Value with
Axis Value Fund vs Tata India Innovation Fund: Frequently Asked Questions
What is the difference between Axis Value Fund and Tata India Innovation Fund?
Axis Value Fund is a Value and Contra fund, Tata India Innovation Fund is a Thematic fund, run by Axis Mutual Fund and Tata Mutual Fund. Their portfolios overlap 35.5%. Axis Value Fund charges 0.88% a year and Tata India Innovation Fund 0.97%.
Which has given higher returns, Axis Value Fund or Tata India Innovation Fund?
Over 1 year: Axis Value Fund +1.22%, Tata India Innovation Fund −1.91%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Axis Value Fund or Tata India Innovation Fund?
Axis Value Fund charges less: 0.88% a year against 0.97%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Axis Value Fund and Tata India Innovation Fund overlap?
35.5%. They hold 26 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, RELIANCE. From each fund's latest monthly portfolio.
Which is riskier, Axis Value Fund or Tata India Innovation Fund?
On SEBI's riskometer, Axis Value Fund is rated Very High and Tata India Innovation Fund Very High. Over 1 years, the standard deviation of daily returns was 14.09% and 14.35% a year.
Can I invest in both Axis Value Fund and Tata India Innovation Fund?
Yes. 35.5% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Axis Value Fund and Tata India Innovation Fund?
Axis Value Fund: Nitin Arora, Krishnaa N. Tata India Innovation Fund: Meeta Shetty, Hasmukh Vishariya.
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.