HDFC Balanced Advantage Fund vs Kotak Balanced Advantage Fund
Direct Plan, Growth option · Data as on 30-10-2026
HDFC Balanced Advantage Fund and Kotak Balanced Advantage Fund are both Balanced Advantage funds. In the 3 years to 30-10-2026, HDFC Balanced Advantage Fund (Direct) returned 10.5% a year and Kotak Balanced Advantage Fund (Direct) returned 9.2% a year. HDFC Balanced Advantage Fund charges 0.77% a year and Kotak Balanced Advantage Fund 0.82% (Direct plans). Their portfolios overlap 40.3%: they hold 71 of the same securities.
HDFC Balanced Advantage Fund
Balanced Advantage
- 3 year return
- 10.5%
- Expense ratio
- 0.77%
- NAV
- ₹546.24
Kotak Balanced Advantage Fund
Balanced Advantage
- 3 year return
- 9.2%
- Expense ratio
- 0.82%
- NAV
- ₹22.45
Which is better, HDFC Balanced Advantage or Kotak Balanced Advantage? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HDFC Balanced Advantage returned more over 5 years: 13.0% a year against 8.4%.
- HDFC Balanced Advantage returned more over 3 years: 10.5% a year against 9.2%.
- HDFC Balanced Advantage costs less: 0.77% a year against 0.82% (Direct plans).
- Kotak Balanced Advantage swung less over 3 years: a standard deviation of 8.0% a year against 9.8%.
- Kotak Balanced Advantage fell less in its worst fall since 10-08-2018: −26.3% against −34.2%.
- HDFC Balanced Advantage is the larger fund: ₹1,02,534 Cr against ₹16,618 Cr.
- Their portfolios overlap 40.3%: 71 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 | HDFC Balanced Advantage Fund | Kotak Balanced Advantage Fund |
|---|---|---|
| Fund house | HDFC Mutual Fund | Kotak Mahindra Mutual Fund |
| Category | Balanced Advantage | Balanced Advantage |
| AUM | ₹1,02,534 Cr (30-09-2026) | ₹16,618 Cr (30-09-2026) |
| NAV | ₹546.24 (Direct) | ₹22.45 (Direct) |
| Expense ratio (Direct) | 0.77% | 0.82% |
| Expense ratio (Regular) | 1.30% | 1.88% |
| Riskometer | Very High | Very High |
| Benchmark | NIFTY 50 Hybrid Composite Debt 50:50 Index | NIFTY 50 Hybrid composite debt 50:50 Index (Total Return |
| Launch date | 01-02-1994 | 03-08-2018 |
| Minimum investment | ₹100 | ₹100 |
| Lock in | None | None |
| Fund managers | Gopal Agrawal, Ihab Dalwai, Nandita Menezes, – Mr. Arun Agarwal, Anil Bamboli | Rohit Tandon, Hiten Shah, Abhishek Bisen |
| Exit load | Exit Load for units in excess of 15% of the investment,1% will be charged for redemption within 1 year. | Exit load for units in excess of 8% of the investment,1% will be charged for redemption within 180 days |
HDFC Balanced Advantage vs Kotak Balanced Advantage: 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 |
|---|---|---|---|---|---|---|---|
| HDFC Balanced Advantage Fund (Direct) | −0.67% | −4.30% | −2.27% | −5.25% | +10.53% | +13.03% | +13.61% |
| Kotak Balanced Advantage Fund (Direct) | −0.31% | −3.11% | +0.22% | −1.56% | +9.18% | +8.44% | -- |
| Balanced Advantage average | −0.55% | −2.88% | +0.08% | −2.08% | +9.14% | +8.35% | -- |
Category average: the average of the 38 Balanced Advantage funds, same plan type.
HDFC Balanced Advantage vs Kotak Balanced Advantage: Year-wise Returns
| Year | HDFCHDFC Balanced Advantage | KotakKotak Balanced Advantage |
|---|---|---|
| 2026to date | −5.77% | −2.17% |
| 2025 | +7.87% | +7.13% |
| 2024 | +17.44% | +15.67% |
| 2023 | +32.13% | +17.42% |
| 2022 | +19.56% | +5.06% |
| 2021 | +27.11% | +14.43% |
HDFC Balanced Advantage vs Kotak Balanced Advantage: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 1,286 of them, one for each trading day from 10-08-2021 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.
HDFC Balanced Advantage Fund (Direct)
Kotak Balanced Advantage Fund (Direct)
to
Jan 2022Nov 2019
to
Nov 2022Oct 2020
to
Oct 2023Sept 2021
to
Sept 2024Jul 2022
to
Jul 2025May 2023
to
May 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HDFC Balanced Advantage | 0.0 | 0.0 | 0.4 | 19.0 | 34.8 | 24.0 | 21.8 | 20.1% | 19.3% | 9.7% | 33.8% |
| Kotak Balanced Advantage | 0.0 | 0.0 | 3.0 | 86.7 | 10.0 | 0.4 | 0.0 | 12.8% | 12.7% | 8.5% | 22.4% |
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. Every fund is measured over the days all of them have, from 10-08-2018. Past returns do not promise future returns.
HDFC Balanced Advantage vs Kotak Balanced Advantage: 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 01-08-2018 to 30-10-2026: 99 instalments, ₹9,90,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HDFC Balanced AdvantageHDFC Balanced Advantage Fund (Direct) | ₹9,90,000 | ₹17,94,859 | ₹8,04,859 | 14.0% |
| Kotak Balanced AdvantageKotak Balanced Advantage Fund (Direct) | ₹9,90,000 | ₹14,95,965 | ₹5,05,965 | 9.8% |
HDFC Balanced AdvantageHDFC Balanced Advantage Fund (Direct)
Kotak Balanced AdvantageKotak Balanced Advantage 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.
HDFC Balanced Advantage vs Kotak Balanced Advantage: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HDFC Balanced Advantage Fund (Direct) | Kotak Balanced Advantage Fund (Direct) |
|---|---|---|
| Return (CAGR) | −5.25% | −1.56% |
| Standard deviation | 9.95% | 8.92% |
| Sharpe ratio | -1.05 | -0.76 |
| Sortino ratio | -1.39 | -1.02 |
| Maximum drawdown | −10.2% (30-03-2026) | −8.4% (30-03-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 | HDFC Balanced Advantage Fund (Direct) | Kotak Balanced Advantage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.53% | +9.18% |
| Standard deviation | 9.77% | 7.95% |
| Sharpe ratio | 0.46 | 0.40 |
| Sortino ratio | 0.61 | 0.55 |
| Maximum drawdown | −10.2% (30-03-2026) | −9.1% (28-02-2025) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 30-10-2023 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 | HDFC Balanced Advantage Fund (Direct) | Kotak Balanced Advantage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.03% | +8.44% |
| Standard deviation | 9.68% | 7.33% |
| Sharpe ratio | 0.75 | 0.36 |
| Sortino ratio | 1.01 | 0.49 |
| Maximum drawdown | −10.2% (30-03-2026) | −9.1% (28-02-2025) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 29-10-2021 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.
| Measure | HDFC Balanced Advantage Fund (Direct) | Kotak Balanced Advantage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.51% | +10.31% |
| Standard deviation | 14.22% | 9.51% |
| Sharpe ratio | 0.52 | 0.53 |
| Sortino ratio | 0.71 | 0.70 |
| Maximum drawdown | −34.2% (23-03-2020) | −26.3% (23-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 01-01-2013 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.
HDFC Balanced Advantage Fund (Direct)
Kotak Balanced Advantage Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HDFC Balanced Advantage Fund (Direct) | −34.2% | 04-07-2019 | 23-03-2020 | 03-12-2020 | 8 months | −6.5% |
| Kotak Balanced Advantage Fund (Direct) | −26.3% | 12-02-2020 | 23-03-2020 | 21-07-2020 | 4 months | −4.4% |
From daily values since 10-08-2018, 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.
HDFC Balanced Advantage Fund (Direct)
Kotak Balanced Advantage Fund (Direct)
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 3-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
HDFC Balanced Advantage Fund (Direct)
Kotak Balanced Advantage Fund (Direct)
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 5-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
HDFC Balanced Advantage Fund (Direct)
Kotak Balanced Advantage Fund (Direct)
HDFC Balanced Advantage vs Kotak Balanced Advantage: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC Balanced Advantage Fund, September 2026; Kotak Balanced Advantage Fund, September 2026
Holdings in common
- Overlap
- 40.3%
- Held by both
- 71
- Only in HDFC Balanced Advantage
- 240
- Only in Kotak Balanced Advantage
- 119
| Security | % of HDFC Balanced Advantage | % of Kotak Balanced Advantage |
|---|---|---|
| ICICI Bank Ltd. | 5.06% | 4.93% |
| Reliance Industries Ltd. | 3.64% | 3.36% |
| State Bank of India | 3.28% | 3.64% |
| HDFC Bank Ltd. | 4.32% | 3.16% |
| Bharti Airtel Ltd. | 3.05% | 2.38% |
| Larsen and Toubro Ltd. | 2.52% | 1.99% |
| Infosys Limited | 1.45% | 1.48% |
| Eternal Limited | 1.68% | 1.35% |
| Axis Bank Ltd. | 2.65% | 1.30% |
| Kotak Mahindra Bank Limited | 1.58% | 1.25% |
| Maruti Suzuki India Limited | 1.42% | 1.23% |
| InterGlobe Aviation Ltd. | 1.18% | 0.92% |
| ITC LIMITED | 1.10% | 0.86% |
| Mahindra & Mahindra Ltd. | 0.82% | 1.29% |
| 7.34% GOI MAT 220464 | 0.74% | 5.67% |
| NTPC Limited | 2.00% | 0.70% |
| Sun Pharmaceutical Industries Ltd. | 1.55% | 0.64% |
| Tata Consultancy Services Ltd. | 1.08% | 0.64% |
| Bharat Petroleum Corporation Ltd. | 0.61% | 0.65% |
| UltraTech Cement Limited | 0.56% | 1.55% |
| BROOKFIELD INDIA REAL ESTATE TRUST | 0.51% | 1.16% |
| Power Finance Corporation Ltd. | 0.59% | 0.46% |
| Bajaj Auto Limited | 0.40% | 0.48% |
| Coal India Ltd. | 1.77% | 0.38% |
| Life Insurance Corporation of India | 1.17% | 0.37% |
| 6.9% GOI MAT 150465 | 0.55% | 0.36% |
| Jindal Steel Limited. | 0.47% | 0.36% |
| Apollo Tyres Ltd. | 0.36% | 0.41% |
| Hindustan Unilever Ltd. | 0.31% | 0.62% |
| Ambuja Cements Ltd. | 0.30% | 0.49% |
| Bosch Limited | 0.30% | 0.58% |
| Oil & Natural Gas Corporation Ltd. | 0.29% | 0.31% |
| United Spirits Limited | 0.28% | 0.53% |
| Embassy Office Parks REIT | 0.83% | 0.27% |
| MphasiS Limited. | 0.27% | 0.99% |
| Hyundai Motor India Limited | 0.79% | 0.22% |
| Godrej Properties Ltd. | 0.20% | 0.25% |
| Tech Mahindra Ltd. | 0.18% | 0.81% |
| Asian Paints Limited | 0.15% | 0.24% |
| Cipla Ltd. | 0.14% | 0.22% |
| HDFC Life Insurance Company Limited | 0.14% | 0.29% |
| DLF LIMITED | 0.13% | 0.15% |
| Shriram Finance Ltd. | 0.13% | 0.53% |
| 7.09% GOI MAT 050854 | 0.12% | 0.77% |
| Tata Motors Passenger Vehicles Limited | 0.11% | 0.18% |
| Techno Electric & Engin. Co. Ltd. | 0.42% | 0.10% |
| Glenmark Pharmaceuticals Ltd. | 0.20% | 0.10% |
| National Bank for Agri & Rural Dev. | 0.10% | 0.60% |
| Hindustan Aeronautics Limited | 0.45% | 0.09% |
| Ashok Leyland Ltd | 0.16% | 0.09% |
| Jio Financial Services Limited | 0.11% | 0.09% |
| Jubilant Foodworks Limited | 0.09% | 0.38% |
| Bank of Baroda | 0.67% | 0.07% |
| Alkem Laboratories Ltd. | 0.28% | 0.07% |
| Tata Motors Limited | 0.16% | 0.07% |
| Bharti Telecom Limited | 0.06% | 0.45% |
| Swiggy Limited | 0.10% | 0.05% |
| Persistent Systems Limited | 0.05% | 0.37% |
| National Housing Bank | 0.05% | 1.15% |
| Voltas Ltd. | 0.04% | 0.04% |
| PB Fintech Limited | 0.04% | 0.17% |
| Adani Ports & Special Economic Zone | 0.04% | 1.40% |
| SBI Funds Management Limited | 0.03% | 0.04% |
| 7.3% GOI MAT 190653 | 0.05% | 0.02% |
| Coromandel International Limited | 0.02% | 0.76% |
| Varun Beverages Ltd | 0.02% | 0.03% |
| SBI Life Insurance Company Ltd. | 0.88% | 0.01% |
| Tata Steel Ltd. | 0.68% | 0.01% |
| Bajaj Finserv Ltd. | 0.34% | 0.01% |
| LIC Housing Finance Ltd. | 0.10% | 0.01% |
| RAAJMARG INFRA INVESTMENT TRUST | 0.01% | 0.10% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 40.3% means 40.3% 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 HDFC Balanced Advantage Fund
| Security | % of fund |
|---|---|
| 7.18% GOI MAT 140833 | 2.04% |
| HCL Technologies Ltd. | 1.21% |
| Lupin Ltd. | 1.13% |
| GAIL (India) Ltd. | 0.82% |
| Divis Laboratories Ltd. | 0.81% |
Largest holdings only in Kotak Balanced Advantage Fund
| Security | % of fund |
|---|---|
| BAJAJ FINANCE LTD. | 1.75% |
| Solar Industries India Limited | 1.67% |
| Power Finance Corporation Ltd. | 1.49% |
| JTPM METAL TRADERS PVT LTD ( CATALYST TRUSTEESHIP LIMITE) | 1.30% |
| Sansera Engineering Ltd | 1.27% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC Balanced Advantage | Kotak Balanced Advantage |
|---|---|---|
| Equity | 73.4% | 70.2% |
| Debt | 23.6% | 20.3% |
| Cash and others | 2.9% | 9.5% |
Market cap of stocks
| Market cap | HDFC Balanced Advantage | Kotak Balanced Advantage |
|---|---|---|
| Large Cap | 54.4% | 51.1% |
| Mid Cap | 9.4% | 9.0% |
| Small Cap | 9.4% | 9.6% |
| Not on AMFI's list | 0.2% | 0.5% |
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 | HDFC Balanced Advantage | Kotak Balanced Advantage |
|---|---|---|
| Banks | 18.8% | 14.6% |
| Pharmaceuticals & Biotechnology | 5.6% | 0.0% |
| Petroleum Products | 5.2% | 4.0% |
| IT - Software | 4.5% | 4.3% |
| Construction | 3.7% | 2.1% |
| Automobiles | 3.5% | 3.5% |
| Finance | 3.0% | 3.5% |
| Auto Components | 1.1% | 3.1% |
The six largest sectors of each fund's stocks, % of the fund.
HDFC Balanced Advantage vs Kotak Balanced Advantage: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC Balanced Advantage Fund | Kotak Balanced Advantage Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.77% | 0.82% |
| Base expense ratio (Direct) | 0.64% | 0.54% |
| Total expense ratio (Regular) | 1.30% | 1.88% |
| Base expense ratio (Regular) | 1.09% | 1.44% |
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
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HDFC Balanced Advantage Fund vs Kotak Balanced Advantage Fund: Frequently Asked Questions
What is the difference between HDFC Balanced Advantage Fund and Kotak Balanced Advantage Fund?
Both are Balanced Advantage funds, run by HDFC Mutual Fund and Kotak Mahindra Mutual Fund. Their portfolios overlap 40.3%. HDFC Balanced Advantage Fund charges 0.77% a year and Kotak Balanced Advantage Fund 0.82%.
Which has given higher returns, HDFC Balanced Advantage Fund or Kotak Balanced Advantage Fund?
Over 1 year: HDFC Balanced Advantage Fund −5.25%, Kotak Balanced Advantage Fund −1.56%. Over 3 years: HDFC Balanced Advantage Fund +10.53% a year, Kotak Balanced Advantage Fund +9.18% a year. Over 5 years: HDFC Balanced Advantage Fund +13.03% a year, Kotak Balanced Advantage Fund +8.44% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HDFC Balanced Advantage Fund or Kotak Balanced Advantage Fund?
HDFC Balanced Advantage Fund charges less: 0.77% a year against 0.82%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HDFC Balanced Advantage Fund and Kotak Balanced Advantage Fund overlap?
40.3%. They hold 71 of the same securities, the largest shared ones being ICICIBANK, RELIANCE, SBIN. From each fund's latest monthly portfolio.
Which is riskier, HDFC Balanced Advantage Fund or Kotak Balanced Advantage Fund?
On SEBI's riskometer, HDFC Balanced Advantage Fund is rated Very High and Kotak Balanced Advantage Fund Very High. Over 3 years, the standard deviation of daily returns was 9.77% and 7.95% a year.
Which is better for SIP, HDFC Balanced Advantage Fund or Kotak Balanced Advantage Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,84,851 in HDFC Balanced Advantage Fund (XIRR 9.9% a year) and ₹7,41,532 in Kotak Balanced Advantage Fund (XIRR 7.6% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both HDFC Balanced Advantage Fund and Kotak Balanced Advantage Fund?
Yes. 40.3% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages HDFC Balanced Advantage Fund and Kotak Balanced Advantage Fund?
HDFC Balanced Advantage Fund: Gopal Agrawal, Ihab Dalwai, Nandita Menezes, – Mr. Arun Agarwal, Anil Bamboli. Kotak Balanced Advantage Fund: Rohit Tandon, Hiten Shah, 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.