Franklin India Multi-Factor Fund vs Kotak MSCI India ETF
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
Franklin India Multi-Factor Fund is a Thematic fund and Kotak MSCI India ETF is an ETF fund. Franklin India Multi-Factor Fund charges 1.14% a year and Kotak MSCI India ETF 0.24%. Their portfolios overlap 58.5%: they hold 70 of the same securities.
Franklin India Multi-Factor Fund
Thematic
- Expense ratio
- 1.14%
- NAV
- ₹9.02
Which is better, Franklin India Multi-Factor 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 costs less: 0.24% a year against 1.14%.
- Franklin India Multi-Factor fell less in its worst fall since 28-11-2025: −13.8% against −14.6%.
- Kotak MSCI India ETF is the larger fund: ₹1,749 Cr against ₹581 Cr.
- Their portfolios overlap 58.5%: 70 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-Factor Fund | Kotak MSCI India ETF |
|---|---|---|
| Fund house | Franklin Templeton Mutual Fund | Kotak Mahindra Mutual Fund |
| Category | Thematic | ETF |
| AUM | ₹581 Cr (30-09-2026) | ₹1,749 Cr (30-09-2026) |
| NAV | ₹9.02 (Direct) | ₹28.23 |
| Expense ratio (Direct) | 1.14% | Not available |
| Expense ratio (Regular) | 2.80% | Not available |
| Riskometer | Not available | Very High |
| Benchmark | Not available | MSCI India TRI |
| Launch date | Not available | 19-02-2025 |
| Minimum investment | Not available | 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 | Not available | None |
| Fund managers | Not available | Satish Dondapati, Abhishek Bisen, Jeetu Valechha Sonar |
| Exit load | Not available | NIL |
Franklin India Multi-Factor 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 |
|---|---|---|---|---|---|---|---|
| Franklin India Multi-Factor Fund (Direct) | −0.19% | −6.70% | −5.31% | -- | -- | -- | -- |
| Kotak MSCI India ETF | +0.29% | −5.98% | −3.50% | −8.03% | -- | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | -- | -- | -- | -- |
Category average: the average of the 235 Thematic funds, same plan type.
Franklin India Multi-Factor vs Kotak MSCI India ETF: Year-wise Returns
| Year | Franklin India Multi-FactorFranklin India Multi-Factor | Kotak MSCI India ETFKotak MSCI India ETF |
|---|---|---|
| 2026to date | −10.63% | −8.95% |
Franklin India Multi-Factor vs Kotak MSCI India ETF: Rolling Returns
Every holding period of both funds, against BSE 200 TRI, the benchmark of Franklin India Multi-Factor Fund
Franklin India Multi-Factor 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 | Franklin India Multi-Factor Fund (Direct) | Kotak MSCI India ETF |
|---|---|---|
| Return (CAGR) | −10.62% | +4.02% |
| Standard deviation | 14.25% | 13.78% |
| Sharpe ratio | -1.11 | -0.10 |
| Sortino ratio | -1.45 | -0.14 |
| Maximum drawdown | −13.8% (31-03-2026) | −14.6% (31-03-2026) |
| Beta | 0.97 | -- |
| Alpha | −1.09% | -- |
From daily NAVs, 28-11-2025 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-Factor Fund (Direct)
Kotak MSCI India ETF
BSE 200 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Franklin India Multi-Factor Fund (Direct) | −13.8% | 02-01-2026 | 31-03-2026 | Not yet | -- | −11.3% |
| Kotak MSCI India ETF | −14.6% | 02-01-2026 | 31-03-2026 | Not yet | -- | −10.1% |
| BSE 200 TRI | −14.7% | 02-01-2026 | 30-03-2026 | Not yet | -- | −9.9% |
From daily values since 28-11-2025, the first day every fund has.
Franklin India Multi-Factor vs Kotak MSCI India ETF: Portfolio Overlap
From each fund's latest monthly portfolio: Franklin India Multi-Factor Fund, September 2026; Kotak MSCI India ETF, September 2026
Holdings in common
- Overlap
- 58.5%
- Held by both
- 70
- Only in Franklin India Multi-Factor
- 20
- Only in Kotak MSCI India ETF
- 95
| Security | % of Franklin India Multi-Factor | % of Kotak MSCI India ETF |
|---|---|---|
| HDFC Bank Ltd | 5.90% | 6.44% |
| ICICI Bank Ltd | 5.08% | 5.60% |
| Reliance Industries Ltd | 4.24% | 5.44% |
| Bharti Airtel Ltd | 3.83% | 3.93% |
| Infosys Ltd | 2.32% | 2.41% |
| Larsen & Toubro Ltd | 2.67% | 2.02% |
| Bajaj Finance Ltd | 1.58% | 1.91% |
| Axis Bank Ltd | 1.46% | 2.25% |
| State Bank of India | 2.71% | 1.41% |
| Sun Pharmaceutical Industries Ltd | 1.97% | 1.30% |
| Titan Co Ltd | 1.92% | 1.30% |
| Tata Consultancy Services Ltd | 1.21% | 1.33% |
| NTPC Ltd | 1.24% | 1.12% |
| Mahindra & Mahindra Ltd | 1.01% | 2.05% |
| Bharat Electronics Ltd | 1.00% | 1.08% |
| Kotak Mahindra Bank Ltd | 0.90% | 1.82% |
| Divi's Laboratories Ltd | 1.33% | 0.89% |
| HCL Technologies Ltd | 1.20% | 0.87% |
| Hindalco Industries Ltd | 0.79% | 0.97% |
| Shriram Finance Ltd | 0.78% | 1.11% |
| Eternal Ltd | 0.69% | 1.22% |
| Apollo Hospitals Enterprise Ltd | 1.23% | 0.66% |
| ITC Ltd | 2.30% | 0.63% |
| Tata Motors Ltd | 1.13% | 0.62% |
| Hindustan Aeronautics Ltd | 0.65% | 0.62% |
| Nestle India Ltd | 1.34% | 0.60% |
| Bajaj Auto Ltd | 1.37% | 0.58% |
| Trent Ltd | 1.03% | 0.56% |
| Samvardhana Motherson International Ltd | 1.28% | 0.55% |
| Laurus Labs Ltd | 0.79% | 0.55% |
| Adani Power Ltd | 1.02% | 0.53% |
| Coal India Ltd | 1.42% | 0.52% |
| Ultratech Cement Ltd | 0.52% | 0.90% |
| Tech Mahindra Ltd | 0.51% | 0.66% |
| Tata Steel Ltd | 0.51% | 1.10% |
| Hero MotoCorp Ltd | 1.33% | 0.50% |
| Cummins India Ltd | 0.99% | 0.50% |
| Indian Hotels Co Ltd | 0.83% | 0.48% |
| Hindustan Unilever Ltd | 0.48% | 1.06% |
| Vedanta Aluminium Metal Ltd | 0.74% | 0.45% |
| One 97 Communications Ltd | 0.40% | 0.51% |
| Bharat Petroleum Corporation Ltd | 0.79% | 0.39% |
| Dixon Technologies (India) Ltd | 0.78% | 0.38% |
| Lupin Ltd | 1.19% | 0.37% |
| Indus Towers Ltd | 0.76% | 0.37% |
| Solar Industries India Ltd | 1.20% | 0.36% |
| Lenskart Solutions Ltd | 0.87% | 0.36% |
| Aurobindo Pharma Ltd | 1.08% | 0.35% |
| HDFC Asset Management Co Ltd | 0.71% | 0.35% |
| Power Finance Corporation Ltd | 0.87% | 0.34% |
| Polycab India Ltd | 0.51% | 0.34% |
| Marico Ltd | 0.82% | 0.33% |
| Pidilite Industries Ltd | 0.63% | 0.33% |
| FSN E-Commerce Ventures Ltd | 1.10% | 0.31% |
| United Spirits Ltd | 0.44% | 0.31% |
| Hitachi Energy India Ltd | 0.49% | 0.30% |
| REC Ltd | 1.00% | 0.28% |
| Maruti Suzuki India Ltd | 0.27% | 1.13% |
| Ge Vernova T&D India Ltd | 0.25% | 0.43% |
| Aditya Birla Capital Ltd | 0.78% | 0.23% |
| Adani Energy Solutions Ltd | 0.97% | 0.22% |
| Union Bank Of India | 0.62% | 0.21% |
| Bank of Baroda | 0.76% | 0.19% |
| NMDC Ltd | 0.36% | 0.19% |
| Oracle Financial Services Software Ltd | 0.66% | 0.18% |
| Canara Bank | 1.09% | 0.17% |
| L&T Finance Ltd | 0.54% | 0.17% |
| Oberoi Realty Ltd | 0.49% | 0.17% |
| Colgate Palmolive (India) Ltd | 0.60% | 0.16% |
| Tata Communications Ltd | 0.47% | 0.15% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 58.5% means 58.5% 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 Franklin India Multi-Factor Fund
| Security | % of fund |
|---|---|
| Life Insurance Corporation Of India | 1.11% |
| Steel Authority of India Ltd | 1.07% |
| Bank Of Maharashtra | 0.90% |
| Welspun Corp Ltd | 0.85% |
| Great Eastern Shipping Co Ltd | 0.82% |
Largest holdings only in Kotak MSCI India ETF
| Security | % of fund |
|---|---|
| Power Grid Corporation of India Ltd. | 0.87% |
| Adani Ports and Special Economic Zone Limited | 0.83% |
| Eicher Motors Ltd. | 0.78% |
| TVS Motor Company Ltd. | 0.78% |
| Inter Globe Aviation Ltd | 0.75% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Franklin India Multi-Factor | Kotak MSCI India ETF |
|---|---|---|
| Equity | 97.6% | 100.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 2.4% | 0.0% |
Market cap of stocks
| Market cap | Franklin India Multi-Factor | Kotak MSCI India ETF |
|---|---|---|
| Large Cap | 71.7% | 80.6% |
| Mid Cap | 18.2% | 19.4% |
| Small Cap | 7.4% | 0.0% |
| Not on AMFI's list | 0.4% | 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 | Franklin India Multi-Factor | Kotak MSCI India ETF |
|---|---|---|
| Banks | 19.4% | 20.3% |
| Finance | 7.5% | 6.3% |
| IT - Software | 5.9% | 6.6% |
| Petroleum Products | 5.0% | 6.4% |
| Pharmaceuticals & Biotechnology | 6.4% | 0.0% |
| Automobiles | 4.0% | 6.2% |
| Pharmaceuticals and Biotechnology | 0.0% | 5.6% |
| Telecom - Services | 5.1% | 4.7% |
The six largest sectors of each fund's stocks, % of the fund.
Franklin India Multi-Factor vs Kotak MSCI India ETF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Franklin India Multi-Factor Fund | Kotak MSCI India ETF |
|---|---|---|
| Total expense ratio (Direct) | 1.14% | Not available |
| Base expense ratio (Direct) | 0.62% | 0.00% |
| Total expense ratio (Regular) | 2.80% | Not available |
| Base expense ratio (Regular) | 2.07% | 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.
More comparisons
Each fund against the others of its category
Compare Franklin India Multi-Factor with
Franklin India Multi-Factor Fund vs Kotak MSCI India ETF: Frequently Asked Questions
What is the difference between Franklin India Multi-Factor Fund and Kotak MSCI India ETF?
Franklin India Multi-Factor Fund is a Thematic fund, Kotak MSCI India ETF is an ETF fund, run by Franklin Templeton Mutual Fund and Kotak Mahindra Mutual Fund. Their portfolios overlap 58.5%. Franklin India Multi-Factor Fund charges 1.14% a year and Kotak MSCI India ETF 0.24%.
Which has the lower expense ratio, Franklin India Multi-Factor Fund or Kotak MSCI India ETF?
Kotak MSCI India ETF charges less: 0.24% a year against 1.14%. These are the total expense ratios reported to AMFI.
How much do Franklin India Multi-Factor Fund and Kotak MSCI India ETF overlap?
58.5%. They hold 70 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, RELIANCE. From each fund's latest monthly portfolio.
Can I invest in both Franklin India Multi-Factor Fund and Kotak MSCI India ETF?
Yes. 58.5% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
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.