Canara Robeco Manufacturing Fund vs Navi Nifty India Manufacturing Index Fund
Direct Plan, Growth option · Data as on 30-10-2026
Canara Robeco Manufacturing Fund is a Thematic fund and Navi Nifty India Manufacturing Index Fund is an Index fund. In the year to 30-10-2026, Canara Robeco Manufacturing Fund (Direct) returned 0.8% and Navi Nifty India Manufacturing Index Fund (Direct) returned −2.1%. Canara Robeco Manufacturing Fund charges 1.01% a year and Navi Nifty India Manufacturing Index Fund 0.58% (Direct plans). Their portfolios overlap 33.1%: they hold 19 of the same securities.
Canara Robeco Manufacturing Fund
Thematic
- 1 year return
- 0.8%
- Expense ratio
- 1.01%
- NAV
- ₹13.30
Navi Nifty India Manufacturing Index Fund
Index
- 1 year return
- −2.1%
- Expense ratio
- 0.58%
- NAV
- ₹18.14
Which is better, Canara Robeco Manufacturing or Navi Nifty India Manufacturing Index? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Canara Robeco Manufacturing returned more over 1 year: 0.8% against −2.1%.
- Navi Nifty India Manufacturing Index costs less: 0.58% a year against 1.01% (Direct plans).
- Navi Nifty India Manufacturing Index fell less in its worst fall since 15-03-2024: −23.0% against −24.2%.
- Navi Nifty India Manufacturing Index holds more in large companies: 69.0% of the fund in large caps against 41.8%.
- Canara Robeco Manufacturing is the larger fund: ₹1,697 Cr against ₹83 Cr.
- Their portfolios overlap 33.1%: 19 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 | Canara Robeco Manufacturing Fund | Navi Nifty India Manufacturing Index Fund |
|---|---|---|
| Fund house | Canara Robeco Mutual Fund | Navi Mutual Fund |
| Category | Thematic | Index |
| AUM | ₹1,697 Cr (30-09-2026) | ₹83 Cr (30-09-2026) |
| NAV | ₹13.30 (Direct) | ₹18.14 (Direct) |
| Expense ratio (Direct) | 1.01% | 0.58% |
| Expense ratio (Regular) | 2.27% | 1.17% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty India Manufacturing TRI | Nifty India Manufacturing TRI |
| Launch date | 11-03-2024 | 26-08-2022 |
| Minimum investment | ₹5,000 | ₹100 |
| Lock in | None | None |
| Fund managers | Pranav Gokhale / Mr. Shobhit Tiwari | Ashutosh Shirwaikar |
| Exit load | 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 | NIL |
Canara Robeco Manufacturing vs Navi Nifty India Manufacturing Index: 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 |
|---|---|---|---|---|---|---|---|
| Canara Robeco Manufacturing Fund (Direct) | −6.54% | −5.27% | −0.75% | +0.83% | -- | -- | -- |
| Navi Nifty India Manufacturing Index Fund (Direct) | −3.59% | −7.61% | −3.86% | −2.12% | +16.64% | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | -- | -- | -- |
Category average: the average of the 235 Thematic funds, same plan type.
Canara Robeco Manufacturing vs Navi Nifty India Manufacturing Index: Year-wise Returns
| Year | Canara Robeco ManufacturingCanara Robeco Manufacturing | Navi Nifty India Manufacturing IndexNavi Nifty India Manufacturing Index | Nifty India Manufacturing TRI |
|---|---|---|---|
| 2026to date | +4.56% | −2.82% | −2.54% |
| 2025 | +2.17% | +11.85% | +12.28% |
| 2024 | -- | +25.19% | +25.99% |
| 2023 | -- | +34.44% | +34.87% |
Canara Robeco Manufacturing vs Navi Nifty India Manufacturing Index: Rolling Returns
Every holding period of both funds, against Nifty India Manufacturing TRI, the benchmark of both
Rolling returns
Every 1-year holding period, 400 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.
Canara Robeco Manufacturing Fund (Direct)
Navi Nifty India Manufacturing Index 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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% |
| Navi Nifty India Manufacturing Index | 22.5 | 15.8 | 18.5 | 24.3 | 13.0 | 4.8 | 1.3 | 7.9% | 8.1% | −6.8% | 29.0% | 0% |
| Nifty India Manufacturing TRI | 20.3 | 15.8 | 18.8 | 26.3 | 11.8 | 5.5 | 1.8 | 8.3% | 8.4% | −6.6% | 29.7% | -- |
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.
Canara Robeco Manufacturing vs Navi Nifty India Manufacturing Index: 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 15-03-2024 to 30-10-2026: 32 instalments, ₹3,20,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Canara Robeco ManufacturingCanara Robeco Manufacturing Fund (Direct) | ₹3,20,000 | ₹3,43,984 | ₹23,984 | 5.4% |
| Navi Nifty India Manufacturing IndexNavi Nifty India Manufacturing Index Fund (Direct) | ₹3,20,000 | ₹3,32,703 | ₹12,703 | 2.9% |
Canara Robeco ManufacturingCanara Robeco Manufacturing Fund (Direct)
Navi Nifty India Manufacturing IndexNavi Nifty India Manufacturing Index 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.
Canara Robeco Manufacturing vs Navi Nifty India Manufacturing Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Canara Robeco Manufacturing Fund (Direct) | Navi Nifty India Manufacturing Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +0.83% | −2.12% |
| Standard deviation | 16.95% | 15.83% |
| Sharpe ratio | -0.26 | -0.47 |
| Sortino ratio | -0.35 | -0.62 |
| Maximum drawdown | −12.2% (23-10-2026) | −12.9% (23-10-2026) |
| Beta | 1.00 | 1.00 |
| Alpha | +2.56% | −0.43% |
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 | Canara Robeco Manufacturing Fund (Direct) | Navi Nifty India Manufacturing Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.07% | +15.55% |
| Standard deviation | 17.10% | 14.70% |
| Sharpe ratio | 0.36 | 0.64 |
| Sortino ratio | 0.48 | 0.87 |
| Maximum drawdown | −24.2% (28-02-2025) | −23.0% (07-04-2025) |
| Beta | 0.99 | 1.00 |
| Alpha | +1.50% | −0.50% |
From daily NAVs, 15-03-2024 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.
Canara Robeco Manufacturing Fund (Direct)
Navi Nifty India Manufacturing Index 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 |
|---|---|---|---|---|---|---|
| Canara Robeco Manufacturing Fund (Direct) | −24.2% | 27-09-2024 | 28-02-2025 | 29-04-2026 | 14 months | −10.1% |
| Navi Nifty India Manufacturing Index Fund (Direct) | −23.0% | 27-09-2024 | 07-04-2025 | 10-02-2026 | 10 months | −10.6% |
| 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.
Canara Robeco Manufacturing Fund (Direct)
Navi Nifty India Manufacturing Index Fund (Direct)
Nifty India Manufacturing TRI
Against Nifty India Manufacturing TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Canara Robeco Manufacturing Fund (Direct) | 109% | 101% | 7.19% |
| Navi Nifty India Manufacturing Index Fund (Direct) | 98% | 100% | 0.25% |
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.
Canara Robeco Manufacturing vs Navi Nifty India Manufacturing Index: Portfolio Overlap
From each fund's latest monthly portfolio: Canara Robeco Manufacturing Fund, September 2026; Navi Nifty India Manufacturing Index Fund, September 2026
Holdings in common
- Overlap
- 33.1%
- Held by both
- 19
- Only in Canara Robeco Manufacturing
- 39
- Only in Navi Nifty India Manufacturing Index
- 58
| Security | % of Canara Robeco Manufacturing | % of Navi Nifty India Manufacturing Index |
|---|---|---|
| Mahindra & Mahindra Ltd | 5.07% | 4.98% |
| Tata Steel Ltd | 3.49% | 3.65% |
| Bharat Electronics Ltd | 4.49% | 3.32% |
| Bajaj Auto Ltd | 3.15% | 2.83% |
| Divi's Laboratories Ltd | 2.60% | 2.82% |
| Hindustan Aeronautics Ltd | 2.98% | 2.11% |
| Tata Motors Ltd | 2.08% | 2.10% |
| Torrent Pharmaceuticals Ltd | 1.83% | 1.69% |
| Cummins India Ltd | 1.78% | 1.53% |
| Ge Vernova T&D India Ltd | 3.43% | 1.24% |
| Solar Industries India Ltd | 2.39% | 1.14% |
| Polycab India Ltd | 1.28% | 1.02% |
| Reliance Industries Ltd | 1.01% | 4.96% |
| Dixon Technologies (India) Ltd | 1.00% | 1.30% |
| CG Power and Industrial Solutions Ltd | 0.90% | 1.40% |
| SRF Ltd | 1.06% | 0.86% |
| KEI Industries Ltd | 1.26% | 0.66% |
| Amber Enterprises India Ltd | 1.62% | 0.35% |
| Cochin Shipyard Ltd | 0.89% | 0.30% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 33.1% means 33.1% 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 Canara Robeco Manufacturing Fund
| Security | % of fund |
|---|---|
| Syrma SGS Technology Ltd | 3.87% |
| Bharat Heavy Electricals Ltd | 3.43% |
| Premier Energies Ltd | 3.20% |
| Rubicon Research Ltd | 3.05% |
| Gland Pharma Ltd | 2.21% |
Largest holdings only in Navi Nifty India Manufacturing Index Fund
| Security | % of fund |
|---|---|
| SUN PHARMACEUTICAL INDUSTRIES LIMITED | 4.59% |
| MARUTI SUZUKI INDIA LIMITED | 3.71% |
| HINDALCO INDUSTRIES LIMITED | 3.25% |
| JSW STEEL LIMITED | 2.88% |
| EICHER MOTORS LIMITED | 2.35% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Canara Robeco Manufacturing | Navi Nifty India Manufacturing Index |
|---|---|---|
| Equity | 96.9% | 99.7% |
| Debt | 0.0% | 0.0% |
| Cash and others | 3.1% | 0.3% |
Market cap of stocks
| Market cap | Canara Robeco Manufacturing | Navi Nifty India Manufacturing Index |
|---|---|---|
| Large Cap | 41.8% | 69.0% |
| Mid Cap | 16.5% | 27.5% |
| Small Cap | 34.7% | 3.2% |
| Not on AMFI's list | 3.9% | 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 | Canara Robeco Manufacturing | Navi Nifty India Manufacturing Index |
|---|---|---|
| PHARMACEUTICALS & BIOTECHNOLOGY | 0.0% | 18.5% |
| AUTOMOBILES | 0.0% | 18.3% |
| Electrical Equipment | 16.5% | 0.0% |
| Pharmaceuticals & Biotechnology | 12.2% | 0.0% |
| Industrial Products | 9.3% | 0.0% |
| Automobiles | 8.2% | 0.0% |
| Consumer Durables | 7.8% | 0.0% |
| PETROLEUM PRODUCTS | 0.0% | 7.6% |
| FERROUS METALS | 0.0% | 7.5% |
| Aerospace & Defense | 7.5% | 0.0% |
| ELECTRICAL EQUIPMENT | 0.0% | 7.0% |
| AUTO COMPONENTS | 0.0% | 7.0% |
The six largest sectors of each fund's stocks, % of the fund.
Canara Robeco Manufacturing vs Navi Nifty India Manufacturing Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Canara Robeco Manufacturing Fund | Navi Nifty India Manufacturing Index Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.01% | 0.58% |
| Base expense ratio (Direct) | 0.71% | 0.40% |
| Total expense ratio (Regular) | 2.27% | 1.17% |
| Base expense ratio (Regular) | 1.80% | 0.90% |
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 Canara Robeco Manufacturing with
Canara Robeco Manufacturing Fund vs Navi Nifty India Manufacturing Index Fund: Frequently Asked Questions
What is the difference between Canara Robeco Manufacturing Fund and Navi Nifty India Manufacturing Index Fund?
Canara Robeco Manufacturing Fund is a Thematic fund, Navi Nifty India Manufacturing Index Fund is an Index fund, run by Canara Robeco Mutual Fund and Navi Mutual Fund. Their portfolios overlap 33.1%. Canara Robeco Manufacturing Fund charges 1.01% a year and Navi Nifty India Manufacturing Index Fund 0.58%.
Which has given higher returns, Canara Robeco Manufacturing Fund or Navi Nifty India Manufacturing Index Fund?
Over 1 year: Canara Robeco Manufacturing Fund +0.83%, Navi Nifty India Manufacturing Index Fund −2.12%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Canara Robeco Manufacturing Fund or Navi Nifty India Manufacturing Index Fund?
Navi Nifty India Manufacturing Index Fund charges less: 0.58% a year against 1.01%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Canara Robeco Manufacturing Fund and Navi Nifty India Manufacturing Index Fund overlap?
33.1%. They hold 19 of the same securities, the largest shared ones being M&M, TATASTEEL, BEL. From each fund's latest monthly portfolio.
Which is riskier, Canara Robeco Manufacturing Fund or Navi Nifty India Manufacturing Index Fund?
On SEBI's riskometer, Canara Robeco Manufacturing Fund is rated Very High and Navi Nifty India Manufacturing Index Fund Very High. Over 1 years, the standard deviation of daily returns was 16.95% and 15.83% a year.
Can I invest in both Canara Robeco Manufacturing Fund and Navi Nifty India Manufacturing Index Fund?
Yes. 33.1% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Canara Robeco Manufacturing Fund and Navi Nifty India Manufacturing Index Fund?
Canara Robeco Manufacturing Fund: Pranav Gokhale / Mr. Shobhit Tiwari. Navi Nifty India Manufacturing Index Fund: Ashutosh Shirwaikar.
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.