HDFC Large & Mid Cap Fund vs Kotak Large & Mid Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
HDFC Large & Mid Cap Fund and Kotak Large & Mid Cap Fund are both Large & Mid Cap funds. In the 3 years to 30-10-2026, HDFC Large & Mid Cap Fund (Direct) returned 12.1% a year and Kotak Large & Mid Cap Fund (Direct) returned 12.6% a year. HDFC Large & Mid Cap Fund charges 0.92% a year and Kotak Large & Mid Cap Fund 0.66% (Direct plans). Their portfolios overlap 38.9%: they hold 47 of the same securities.
HDFC Large & Mid Cap Fund
Large & Mid Cap
- 3 year return
- 12.1%
- Expense ratio
- 0.92%
- NAV
- ₹344.94
Kotak Large & Mid Cap Fund
Large & Mid Cap
- 3 year return
- 12.6%
- Expense ratio
- 0.66%
- NAV
- ₹382.26
Which is better, HDFC Large & Mid Cap or Kotak Large & Mid Cap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HDFC Large & Mid Cap returned more over 5 years: 12.3% a year against 12.3%.
- Kotak Large & Mid Cap returned more over 3 years: 12.6% a year against 12.1%.
- Kotak Large & Mid Cap costs less: 0.66% a year against 0.92% (Direct plans).
- HDFC Large & Mid Cap swung less over 3 years: a standard deviation of 14.9% a year against 14.9%.
- Kotak Large & Mid Cap fell less in its worst fall since 30-06-2014: −36.0% against −39.5%.
- Kotak Large & Mid Cap is the larger fund: ₹30,581 Cr against ₹28,543 Cr.
- Their portfolios overlap 38.9%: 47 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 Large & Mid Cap Fund | Kotak Large & Mid Cap Fund |
|---|---|---|
| Fund house | HDFC Mutual Fund | Kotak Mahindra Mutual Fund |
| Category | Large & Mid Cap | Large & Mid Cap |
| AUM | ₹28,543 Cr (30-09-2026) | ₹30,581 Cr (30-09-2026) |
| NAV | ₹344.94 (Direct) | ₹382.26 (Direct) |
| Expense ratio (Direct) | 0.92% | 0.66% |
| Expense ratio (Regular) | 1.61% | 1.67% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty LargeMidcap 250 TRI | Nifty LargeMidcap 250 TRI |
| Launch date | 18-02-1994 | 09-09-2004 |
| Minimum investment | ₹100 | ₹100 |
| Lock in | None | None |
| Fund managers | Gopal Agarwal, Gopal Agrawal, Bhagyesh Kagalkar | Harsha Upadhyaya |
| Exit load | In respect of each purchase/ switch-in of units, an Exit Load of 1.00% is payable if Units are redeemed/switched-out within 1 year from the date of allotment. No Exit Load is payable if Units are redeemed/ switched-out after 1 year from the date of allotment. | Exit load for units in excess of 10% of the investment,1% will be charged for redemption within 365 days |
HDFC Large & Mid Cap vs Kotak Large & Mid Cap: 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 Large & Mid Cap Fund (Direct) | −1.74% | −6.65% | −1.59% | −6.99% | +12.06% | +12.31% | +14.05% |
| Kotak Large & Mid Cap Fund (Direct) | −1.69% | −6.70% | −3.25% | −5.81% | +12.56% | +12.27% | +14.50% |
| Large & Mid Cap average | −1.78% | −5.20% | −0.43% | −3.99% | +13.28% | +11.36% | +13.62% |
Category average: the average of the 36 Large & Mid Cap funds, same plan type.
HDFC Large & Mid Cap vs Kotak Large & Mid Cap: Year-wise Returns
| Year | HDFCHDFC Large & Mid Cap | KotakKotak Large & Mid Cap | NIFTY LargeMidcap 250 TRI |
|---|---|---|---|
| 2026to date | −6.39% | −5.94% | −7.09% |
| 2025 | +6.89% | +6.68% | +8.19% |
| 2024 | +20.42% | +25.54% | +18.68% |
| 2023 | +38.87% | +30.85% | +32.66% |
| 2022 | +9.05% | +8.30% | +4.48% |
| 2021 | +43.96% | +32.03% | +37.04% |
HDFC Large & Mid Cap vs Kotak Large & Mid Cap: Rolling Returns
Every holding period of both funds, against NIFTY LargeMidcap 250 TRI, the benchmark of both
Rolling returns
Every 3-year holding period, 2,299 of them, one for each trading day from 30-06-2017 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 Large & Mid Cap Fund (Direct)
Kotak Large & Mid Cap Fund (Direct)
NIFTY LargeMidcap 250 TRI
to
Mar 2018Oct 2016
to
Oct 2019May 2018
to
May 2021Jan 2020
to
Jan 2023Aug 2021
to
Aug 2024Jan 2023
to
Jan 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HDFC Large & Mid Cap | 4.9 | 5.7 | 22.1 | 13.3 | 15.4 | 20.8 | 17.8 | 15.8% | 16.4% | −8.9% | 39.1% | 72% |
| Kotak Large & Mid Cap | 1.3 | 4.3 | 7.0 | 19.9 | 30.8 | 28.8 | 7.9 | 17.2% | 17.7% | −3.7% | 34.4% | 72% |
| NIFTY LargeMidcap 250 TRI | 0.0 | 0.0 | 3.0 | 12.6 | 38.3 | 35.1 | 11.1 | 19.5% | 19.5% | 5.5% | 36.1% | -- |
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 LargeMidcap 250 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 30-06-2014. Past returns do not promise future returns.
HDFC Large & Mid Cap vs Kotak Large & Mid Cap: 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 30-06-2014 to 30-10-2026: 149 instalments, ₹14,90,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HDFC Large & Mid CapHDFC Large & Mid Cap Fund (Direct) | ₹14,90,000 | ₹37,74,309 | ₹22,84,309 | 14.0% |
| Kotak Large & Mid CapKotak Large & Mid Cap Fund (Direct) | ₹14,90,000 | ₹39,53,635 | ₹24,63,635 | 14.7% |
HDFC Large & Mid CapHDFC Large & Mid Cap Fund (Direct)
Kotak Large & Mid CapKotak Large & Mid Cap 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 Large & Mid Cap vs Kotak Large & Mid Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HDFC Large & Mid Cap Fund (Direct) | Kotak Large & Mid Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −6.99% | −5.81% |
| Standard deviation | 15.08% | 15.28% |
| Sharpe ratio | -0.81 | -0.72 |
| Sortino ratio | -1.08 | -0.97 |
| Maximum drawdown | −15.1% (31-03-2026) | −13.6% (31-03-2026) |
| Beta | 1.00 | 1.01 |
| Alpha | −0.47% | +0.80% |
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 Large & Mid Cap Fund (Direct) | Kotak Large & Mid Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.06% | +12.56% |
| Standard deviation | 14.86% | 14.91% |
| Sharpe ratio | 0.41 | 0.44 |
| Sortino ratio | 0.55 | 0.59 |
| Maximum drawdown | −18.7% (28-02-2025) | −18.5% (28-02-2025) |
| Beta | 0.99 | 0.98 |
| Alpha | +0.58% | +1.12% |
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 Large & Mid Cap Fund (Direct) | Kotak Large & Mid Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.31% | +12.27% |
| Standard deviation | 14.84% | 14.46% |
| Sharpe ratio | 0.44 | 0.45 |
| Sortino ratio | 0.59 | 0.60 |
| Maximum drawdown | −18.7% (28-02-2025) | −18.5% (28-02-2025) |
| Beta | 0.99 | 0.95 |
| Alpha | +1.75% | +1.89% |
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 Large & Mid Cap Fund (Direct) | Kotak Large & Mid Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.34% | +15.66% |
| Standard deviation | 16.43% | 15.16% |
| Sharpe ratio | 0.40 | 0.63 |
| Sortino ratio | 0.54 | 0.85 |
| Maximum drawdown | −39.5% (23-03-2020) | −36.0% (23-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 30-06-2014 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 Large & Mid Cap Fund (Direct)
Kotak Large & Mid Cap Fund (Direct)
NIFTY LargeMidcap 250 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HDFC Large & Mid Cap Fund (Direct) | −39.5% | 17-01-2020 | 23-03-2020 | 23-11-2020 | 8 months | −8.4% |
| Kotak Large & Mid Cap Fund (Direct) | −36.0% | 24-01-2020 | 23-03-2020 | 09-11-2020 | 8 months | −8.5% |
| NIFTY LargeMidcap 250 TRI | −37.8% | 24-01-2020 | 23-03-2020 | 05-11-2020 | 7 months | −8.6% |
From daily values since 30-06-2014, 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 Large & Mid Cap Fund (Direct)
Kotak Large & Mid Cap Fund (Direct)
NIFTY LargeMidcap 250 TRI
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 Large & Mid Cap Fund (Direct)
Kotak Large & Mid Cap Fund (Direct)
NIFTY LargeMidcap 250 TRI
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 Large & Mid Cap Fund (Direct)
Kotak Large & Mid Cap Fund (Direct)
NIFTY LargeMidcap 250 TRI
Against NIFTY LargeMidcap 250 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| HDFC Large & Mid Cap Fund (Direct) | 100% | 95% | 4.29% |
| Kotak Large & Mid Cap Fund (Direct) | 94% | 86% | 4.17% |
From month-end values since 30-06-2014. 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.
HDFC Large & Mid Cap vs Kotak Large & Mid Cap: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC Large & Mid Cap Fund, September 2026; Kotak Large & Mid Cap Fund, September 2026
Holdings in common
- Overlap
- 38.9%
- Held by both
- 47
- Only in HDFC Large & Mid Cap
- 193
- Only in Kotak Large & Mid Cap
- 21
| Security | % of HDFC Large & Mid Cap | % of Kotak Large & Mid Cap |
|---|---|---|
| HDFC Bank Ltd. | 3.64% | 4.52% |
| ICICI Bank Ltd. | 3.66% | 3.03% |
| Axis Bank Ltd. | 1.95% | 2.41% |
| Bharti Airtel Ltd. | 1.79% | 2.18% |
| State Bank of India | 1.42% | 3.92% |
| Reliance Industries Ltd. | 1.42% | 1.40% |
| Indusind Bank Ltd. | 1.19% | 1.47% |
| Fortis Healthcare Limited | 1.28% | 1.18% |
| MphasiS Limited. | 1.16% | 1.55% |
| Eternal Limited | 1.16% | 3.77% |
| Ajanta Pharma Limited | 1.14% | 1.17% |
| Shriram Finance Ltd. | 1.11% | 1.77% |
| Infosys Limited | 1.04% | 1.30% |
| Kotak Mahindra Bank Limited | 1.23% | 0.99% |
| Larsen and Toubro Ltd. | 0.96% | 2.27% |
| Ipca Laboratories Ltd. | 0.95% | 1.59% |
| Bharat Forge Ltd. | 0.91% | 2.14% |
| Hindustan Petroleum Corp. Ltd. | 0.90% | 1.60% |
| Bajaj Finance Ltd. | 0.86% | 2.12% |
| InterGlobe Aviation Ltd. | 0.85% | 1.14% |
| NTPC Limited | 0.79% | 0.90% |
| Maruti Suzuki India Limited | 1.23% | 0.78% |
| Jindal Steel Limited. | 0.76% | 1.93% |
| Sun Pharmaceutical Industries Ltd. | 0.71% | 1.90% |
| Bharat Electronics Ltd. | 0.68% | 3.56% |
| Motilal Oswal Financial Services Ltd. | 0.65% | 1.76% |
| Indian Bank | 0.55% | 1.58% |
| Aster DM Quality Care Limited | 0.55% | 1.05% |
| Ashok Leyland Ltd | 0.54% | 2.12% |
| SRF Ltd. | 0.54% | 1.41% |
| Hero MotoCorp Ltd. | 0.44% | 2.10% |
| Blue Star Ltd. | 0.44% | 0.98% |
| Tech Mahindra Ltd. | 0.43% | 1.59% |
| Swiggy Limited | 0.42% | 1.06% |
| Apollo Tyres Ltd. | 0.40% | 1.26% |
| Biocon Ltd. | 0.39% | 1.57% |
| Coromandel International Limited | 0.36% | 1.84% |
| Bombay Stock Exchange Limited (BSE) | 0.30% | 2.02% |
| Oberoi Realty Ltd. | 0.29% | 0.92% |
| UltraTech Cement Limited | 0.28% | 1.25% |
| Rubicon Research Limited | 0.25% | 0.88% |
| United Spirits Limited | 0.24% | 0.96% |
| Tata Chemicals Ltd. | 0.19% | 0.41% |
| One 97 Communications Limited | 0.13% | 1.10% |
| JK Cement Limited | 0.07% | 1.00% |
| Dixon Technologies (India) Ltd. | 0.05% | 1.28% |
| GSPL Transmission Limited | 0.02% | 0.02% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 38.9% means 38.9% 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 Large & Mid Cap Fund
| Security | % of fund |
|---|---|
| Gland Pharma Ltd. | 1.42% |
| Prestige Estates Projects Ltd. | 1.30% |
| Aurobindo Pharma Ltd. | 1.27% |
| Max Financial Services Ltd. | 1.25% |
| Mahindra & Mahindra Financial Services Ltd. | 1.12% |
Largest holdings only in Kotak Large & Mid Cap Fund
| Security | % of fund |
|---|---|
| Linde India Ltd. | 1.96% |
| PIRAMAL FINANCE LTD | 1.57% |
| INDO-MIM LTD | 1.42% |
| Schaeffler India Ltd | 1.27% |
| ASTRA MICROWAVE PRODUCTS LTD. | 1.23% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC Large & Mid Cap | Kotak Large & Mid Cap |
|---|---|---|
| Equity | 99.0% | 98.4% |
| Debt | 0.0% | 0.0% |
| Cash and others | 1.0% | 1.6% |
Market cap of stocks
| Market cap | HDFC Large & Mid Cap | Kotak Large & Mid Cap |
|---|---|---|
| Large Cap | 43.5% | 48.5% |
| Mid Cap | 38.7% | 40.3% |
| Small Cap | 16.8% | 8.2% |
| Not on AMFI's list | 0.0% | 1.4% |
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 Large & Mid Cap | Kotak Large & Mid Cap |
|---|---|---|
| Banks | 17.0% | 18.7% |
| Pharmaceuticals & Biotechnology | 11.9% | 0.0% |
| Pharmaceuticals and Biotechnology | 0.0% | 8.1% |
| Finance | 7.9% | 7.6% |
| IT - Software | 6.3% | 4.4% |
| Retailing | 3.6% | 4.8% |
| Aerospace and Defense | 0.0% | 4.8% |
| Auto Components | 4.5% | 4.7% |
| Automobiles | 3.7% | 2.9% |
The six largest sectors of each fund's stocks, % of the fund.
HDFC Large & Mid Cap vs Kotak Large & Mid Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC Large & Mid Cap Fund | Kotak Large & Mid Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.92% | 0.66% |
| Base expense ratio (Direct) | 0.77% | 0.50% |
| Total expense ratio (Regular) | 1.61% | 1.67% |
| Base expense ratio (Regular) | 1.36% | 1.35% |
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 HDFC Large & Mid Cap with
HDFC Large & Mid Cap Fund vs Kotak Large & Mid Cap Fund: Frequently Asked Questions
What is the difference between HDFC Large & Mid Cap Fund and Kotak Large & Mid Cap Fund?
Both are Large & Mid Cap funds, run by HDFC Mutual Fund and Kotak Mahindra Mutual Fund. Their portfolios overlap 38.9%. HDFC Large & Mid Cap Fund charges 0.92% a year and Kotak Large & Mid Cap Fund 0.66%.
Which has given higher returns, HDFC Large & Mid Cap Fund or Kotak Large & Mid Cap Fund?
Over 1 year: HDFC Large & Mid Cap Fund −6.99%, Kotak Large & Mid Cap Fund −5.81%. Over 3 years: HDFC Large & Mid Cap Fund +12.06% a year, Kotak Large & Mid Cap Fund +12.56% a year. Over 5 years: HDFC Large & Mid Cap Fund +12.31% a year, Kotak Large & Mid Cap Fund +12.27% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HDFC Large & Mid Cap Fund or Kotak Large & Mid Cap Fund?
Kotak Large & Mid Cap Fund charges less: 0.66% a year against 0.92%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HDFC Large & Mid Cap Fund and Kotak Large & Mid Cap Fund overlap?
38.9%. They hold 47 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, AXISBANK. From each fund's latest monthly portfolio.
Which is riskier, HDFC Large & Mid Cap Fund or Kotak Large & Mid Cap Fund?
On SEBI's riskometer, HDFC Large & Mid Cap Fund is rated Very High and Kotak Large & Mid Cap Fund Very High. Over 3 years, the standard deviation of daily returns was 14.86% and 14.91% a year.
Which is better for SIP, HDFC Large & Mid Cap Fund or Kotak Large & Mid Cap Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,96,813 in HDFC Large & Mid Cap Fund (XIRR 10.5% a year) and ₹7,94,160 in Kotak Large & Mid Cap Fund (XIRR 10.3% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both HDFC Large & Mid Cap Fund and Kotak Large & Mid Cap Fund?
Yes. 38.9% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages HDFC Large & Mid Cap Fund and Kotak Large & Mid Cap Fund?
HDFC Large & Mid Cap Fund: Gopal Agarwal, Gopal Agrawal, Bhagyesh Kagalkar. Kotak Large & Mid Cap Fund: Harsha Upadhyaya.
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.