Franklin India Multi Asset Allocation Fund vs Kotak Multi Asset Active FOF
Direct Plan, Growth option · Data as on 30-10-2026
Franklin India Multi Asset Allocation Fund is a Multi Asset fund and Kotak Multi Asset Active FOF is a Fund of Funds fund. Franklin India Multi Asset Allocation Fund charges 0.55% a year and Kotak Multi Asset Active FOF 0.34% (Direct plans). Their portfolios overlap 10.6%: they hold 2 of the same securities.
Franklin India Multi Asset Allocation Fund
Multi Asset
- Expense ratio
- 0.55%
- NAV
- ₹10.56
Which is better, Franklin India Multi Asset Allocation or Kotak Multi Asset Active FOF? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Kotak Multi Asset Active FOF costs less: 0.34% a year against 0.55% (Direct plans).
- Kotak Multi Asset Active FOF fell less in its worst fall since 30-04-2026: −9.3% against −9.3%.
- Franklin India Multi Asset Allocation is the larger fund: ₹2,767 Cr against ₹79 Cr.
- Their portfolios overlap 10.6%: 2 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 | Franklin India Multi Asset Allocation Fund | Kotak Multi Asset Active FOF |
|---|---|---|
| Fund house | Franklin Templeton Mutual Fund | Kotak Mahindra Mutual Fund |
| Category | Multi Asset | Fund of Funds |
| AUM | ₹2,767 Cr (30-09-2026) | ₹79 Cr (30-09-2026) |
| NAV | ₹10.56 (Direct) | ₹9.65 (Direct) |
| Expense ratio (Direct) | 0.55% | 0.34% |
| Expense ratio (Regular) | 1.95% | 1.08% |
| Riskometer | Not available | Very High |
| Benchmark | 65% Nifty 500+ 20% Nifty Short Duration Index+ 5% Domestic price of gold+ 5% Domestic price of silver+ 5% iCOMDEX | 55% Nifty 50 TRI + 30 % Nifty Short Duration Debt Index + 7.5% Domestic Price of Gold + 7.5% Domestic Price of Silver |
| Launch date | 31-07-2025 | 27-04-2026 |
| Minimum investment | 5000/1 | Rs. 1000/- and any amount thereafter |
| Lock in | None | None |
| Fund managers | Janakiraman Rengaraju, Rajasa Kakulavarapu, Rohan Maru, Anuj Tagra, Sandeep Manam | Devender Singhal, Abhishek Bisen |
| Exit load | <ul style="text-align: justify;"> <li>Upto 10% of the Units may be redeemed without any exit load within 1 year from the date of allotment*.</li> <li>Any redemption in excess of the above limit shall be subject to the following exit load: <ul> <li>0.50 % - if redeemed on or before 1 year from the date of allotment</li> <li>Nil - if redeemed after 1 year from the date of allotment</li> </ul> </li> </ul> | Exit Load for units in excess of 8% of the investment,1% will be charged for redemption within 6 months. |
Franklin India Multi Asset Allocation vs Kotak Multi Asset Active FOF: 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 |
|---|---|---|---|---|---|---|---|
| Franklin India Multi Asset Allocation Fund (Direct) | −1.84% | −5.28% | −3.50% | +0.65% | -- | -- | -- |
| Kotak Multi Asset Active FOF (Direct) | −2.87% | −4.80% | -- | -- | -- | -- | -- |
| Multi Asset average | −1.71% | −3.33% | −1.78% | +2.00% | -- | -- | -- |
Category average: the average of the 37 Multi Asset funds, same plan type.
Franklin India Multi Asset Allocation vs Kotak Multi Asset Active FOF: Year-wise Returns
| Year | Franklin India Multi Asset AllocationFranklin India Multi Asset Allocation | Kotak Multi Asset Active FOFKotak Multi Asset Active FOF |
|---|---|---|
| 2026to date | −3.46% | -- |
Franklin India Multi Asset Allocation vs Kotak Multi Asset Active FOF: Rolling Returns
Every holding period of both funds
Franklin India Multi Asset Allocation vs Kotak Multi Asset Active FOF: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Franklin India Multi Asset Allocation Fund (Direct) | Kotak Multi Asset Active FOF (Direct) |
|---|---|---|
| Return (CAGR) | +4.43% | −7.07% |
| Standard deviation | 11.79% | 9.67% |
| Sharpe ratio | -0.07 | -1.27 |
| Sortino ratio | -0.10 | -1.63 |
| Maximum drawdown | −11.6% (23-03-2026) | −9.3% (23-10-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 31-07-2025 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.
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.
Franklin India Multi Asset Allocation Fund (Direct)
Kotak Multi Asset Active FOF (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Franklin India Multi Asset Allocation Fund (Direct) | −9.3% | 25-08-2026 | 23-10-2026 | Not yet | -- | −8.0% |
| Kotak Multi Asset Active FOF (Direct) | −9.3% | 26-08-2026 | 23-10-2026 | Not yet | -- | −7.7% |
From daily values since 30-04-2026, the first day every fund has.
Franklin India Multi Asset Allocation vs Kotak Multi Asset Active FOF: Portfolio Overlap
From each fund's latest monthly portfolio: Franklin India Multi Asset Allocation Fund, September 2026; Kotak Multi Asset Active FOF, September 2026
Holdings in common
- Overlap
- 10.6%
- Held by both
- 2
- Only in Franklin India Multi Asset Allocation
- 55
- Only in Kotak Multi Asset Active FOF
- 9
| Security | % of Franklin India Multi Asset Allocation | % of Kotak Multi Asset Active FOF |
|---|---|---|
| Nippon India ETF Gold Bees | 14.10% | 7.31% |
| Nippon India Silver ETF | 3.25% | 9.01% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 10.6% means 10.6% 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 Franklin India Multi Asset Allocation Fund
| Security | % of fund |
|---|---|
| State Bank of India | 3.33% |
| HDFC Bank Ltd | 3.21% |
| ICICI Bank Ltd | 2.90% |
| Axis Bank Ltd | 2.65% |
| Eternal Ltd | 2.38% |
Largest holdings only in Kotak Multi Asset Active FOF
| Security | % of fund |
|---|---|
| Kotak Large & Midcap Fund Direct Growth | 13.09% |
| Kotak Small Cap Fund Direct Growth | 12.05% |
| Kotak Midcap Fund Direct Growth | 9.42% |
| ICICI Prudential Ultra Short term fund | 9.14% |
| KOTAK FOCUSED FUND DIRECT GROWTH | 8.75% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Franklin India Multi Asset Allocation | Kotak Multi Asset Active FOF |
|---|---|---|
| Equity | 65.8% | 0.0% |
| Debt | 12.2% | 0.0% |
| Cash and others | 22.1% | 100.0% |
Market cap of stocks
| Market cap | Franklin India Multi Asset Allocation | Kotak Multi Asset Active FOF |
|---|---|---|
| Large Cap | 46.0% | -- |
| Mid Cap | 5.6% | -- |
| Small Cap | 14.1% | -- |
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 | Franklin India Multi Asset Allocation | Kotak Multi Asset Active FOF |
|---|---|---|
| Banks | 12.1% | 0.0% |
| Retailing | 4.6% | 0.0% |
| Aerospace & Defense | 3.4% | 0.0% |
| Auto Components | 3.3% | 0.0% |
| Petroleum Products | 3.2% | 0.0% |
| IT - Software | 3.0% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
Franklin India Multi Asset Allocation vs Kotak Multi Asset Active FOF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Franklin India Multi Asset Allocation Fund | Kotak Multi Asset Active FOF |
|---|---|---|
| Total expense ratio (Direct) | 0.55% | 0.34% |
| Base expense ratio (Direct) | 0.40% | 0.27% |
| Total expense ratio (Regular) | 1.95% | 1.08% |
| Base expense ratio (Regular) | 1.61% | 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
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Franklin India Multi Asset Allocation Fund vs Kotak Multi Asset Active FOF: Frequently Asked Questions
What is the difference between Franklin India Multi Asset Allocation Fund and Kotak Multi Asset Active FOF?
Franklin India Multi Asset Allocation Fund is a Multi Asset fund, Kotak Multi Asset Active FOF is a Fund of Funds fund, run by Franklin Templeton Mutual Fund and Kotak Mahindra Mutual Fund. Their portfolios overlap 10.6%. Franklin India Multi Asset Allocation Fund charges 0.55% a year and Kotak Multi Asset Active FOF 0.34%.
Which has the lower expense ratio, Franklin India Multi Asset Allocation Fund or Kotak Multi Asset Active FOF?
Kotak Multi Asset Active FOF charges less: 0.34% a year against 0.55%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Franklin India Multi Asset Allocation Fund and Kotak Multi Asset Active FOF overlap?
10.6%. They hold 2 of the same securities, the largest shared ones being GOLDBEES, SILVERBEES. From each fund's latest monthly portfolio.
Can I invest in both Franklin India Multi Asset Allocation Fund and Kotak Multi Asset Active FOF?
Yes. 10.6% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Franklin India Multi Asset Allocation Fund and Kotak Multi Asset Active FOF?
Franklin India Multi Asset Allocation Fund: Janakiraman Rengaraju, Rajasa Kakulavarapu, Rohan Maru, Anuj Tagra, Sandeep Manam. Kotak Multi Asset Active FOF: Devender Singhal, Abhishek Bisen.
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.