HSBC Large Cap Fund vs Kotak Focused Fund
Direct Plan, Growth option · Data as on 30-10-2026
HSBC Large Cap Fund is a Large Cap fund and Kotak Focused Fund is a Focused fund. In the 3 years to 30-10-2026, HSBC Large Cap Fund (Direct) returned 10.3% a year and Kotak Focused Fund (Direct) returned 14.1% a year. HSBC Large Cap Fund charges 1.42% a year and Kotak Focused Fund 0.73% (Direct plans). Their portfolios overlap 41.2%: they hold 12 of the same securities.
Which is better, HSBC Large Cap or Kotak Focused? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Kotak Focused returned more over 5 years: 10.6% a year against 8.2%.
- Kotak Focused returned more over 3 years: 14.1% a year against 10.3%.
- Kotak Focused costs less: 0.73% a year against 1.42% (Direct plans).
- HSBC Large Cap swung less over 3 years: a standard deviation of 14.1% a year against 14.2%.
- HSBC Large Cap fell less in its worst fall since 23-07-2019: −36.0% against −36.3%.
- HSBC Large Cap holds more in large companies: 81.2% of the fund in large caps against 58.6%.
- Kotak Focused is the larger fund: ₹4,273 Cr against ₹1,755 Cr.
- Their portfolios overlap 41.2%: 12 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 | HSBC Large Cap Fund | Kotak Focused Fund |
|---|---|---|
| Fund house | HSBC Mutual Fund | Kotak Mahindra Mutual Fund |
| Category | Large Cap | Focused |
| AUM | ₹1,755 Cr (30-09-2026) | ₹4,273 Cr (30-09-2026) |
| NAV | ₹513.79 (Direct) | ₹28.68 (Direct) |
| Expense ratio (Direct) | 1.42% | 0.73% |
| Expense ratio (Regular) | 2.32% | 2.04% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 100 TRI | Nifty 500 TRI |
| Launch date | 10-12-2002 | 16-07-2019 |
| Minimum investment | Rs. 5,000 per application | ₹100 |
| Lock in | None | None |
| Fund managers | Neelotpal Sahai, Mayank Chaturvedi, Dipan S. Parikh | Shibani Kurian |
| Exit load | Exit load for units in excess of 10% of the investment,1% will be charged for redemption within 1 year. | Exit load for units in excess of 10% of the investment,1% will be charged for redemption within 365 days. |
HSBC Large Cap vs Kotak Focused: 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 |
|---|---|---|---|---|---|---|---|
| HSBC Large Cap Fund (Direct) | 0.00% | −3.95% | −0.25% | −5.32% | +10.25% | +8.24% | +11.64% |
| Kotak Focused Fund (Direct) | −1.14% | −6.36% | −0.47% | −2.55% | +14.10% | +10.63% | -- |
| Large Cap average | +0.62% | −4.36% | −1.05% | −6.33% | +10.38% | +8.23% | +11.81% |
| Focused average | −1.00% | −4.12% | +1.39% | −3.09% | +12.30% | +10.21% | -- |
Category average: the average of the 35 Large Cap funds and the 28 Focused funds, same plan type.
HSBC Large Cap vs Kotak Focused: Year-wise Returns
| Year | HSBC Large CapHSBC Large Cap | Kotak FocusedKotak Focused |
|---|---|---|
| 2026to date | −6.78% | −4.06% |
| 2025 | +5.78% | +14.64% |
| 2024 | +19.42% | +17.99% |
| 2023 | +24.69% | +24.48% |
| 2022 | +1.46% | +3.25% |
| 2021 | +23.86% | +36.51% |
HSBC Large Cap vs Kotak Focused: Rolling Returns
Every holding period of both funds, against Nifty 100 TRI, the benchmark of HSBC Large Cap Fund
Rolling returns
Every 3-year holding period, 1,049 of them, one for each trading day from 25-07-2022 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.
HSBC Large Cap Fund (Direct)
Kotak Focused Fund (Direct)
Nifty 100 TRI
to
Nov 2022Aug 2020
to
Aug 2023May 2021
to
May 2024Jan 2022
to
Jan 2025Oct 2022
to
Oct 2025Jun 2023
to
Jun 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HSBC Large Cap | 0.0 | 0.0 | 2.5 | 34.2 | 50.0 | 12.5 | 0.8 | 16.1% | 16.0% | 8.8% | 28.7% | 62% |
| Kotak Focused | 0.0 | 0.0 | 0.0 | 11.2 | 62.3 | 20.7 | 5.8 | 18.7% | 18.5% | 10.7% | 32.3% | 100% |
| Nifty 100 TRI | 0.0 | 0.0 | 4.6 | 38.3 | 44.4 | 9.2 | 3.4 | 15.8% | 15.6% | 7.1% | 31.4% | -- |
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. The benchmark is Nifty 100 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 23-07-2019. Past returns do not promise future returns.
HSBC Large Cap vs Kotak Focused: 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 01-07-2019 to 30-10-2026: 88 instalments, ₹8,80,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HSBC Large CapHSBC Large Cap Fund (Direct) | ₹8,80,000 | ₹13,19,110 | ₹4,39,110 | 10.8% |
| Kotak FocusedKotak Focused Fund (Direct) | ₹8,80,000 | ₹14,91,608 | ₹6,11,608 | 14.1% |
HSBC Large CapHSBC Large Cap Fund (Direct)
Kotak FocusedKotak Focused 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.
HSBC Large Cap vs Kotak Focused: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HSBC Large Cap Fund (Direct) | Kotak Focused Fund (Direct) |
|---|---|---|
| Return (CAGR) | −5.32% | −2.55% |
| Standard deviation | 14.50% | 15.16% |
| Sharpe ratio | -0.73 | -0.51 |
| Sortino ratio | -0.97 | -0.69 |
| Maximum drawdown | −13.8% (31-03-2026) | −14.1% (30-03-2026) |
| Beta | 1.02 | 1.03 |
| Alpha | +3.62% | +5.12% |
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 | HSBC Large Cap Fund (Direct) | Kotak Focused Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.25% | +14.10% |
| Standard deviation | 14.12% | 14.22% |
| Sharpe ratio | 0.30 | 0.57 |
| Sortino ratio | 0.41 | 0.78 |
| Maximum drawdown | −17.7% (28-02-2025) | −17.9% (28-02-2025) |
| Beta | 1.01 | 0.97 |
| Alpha | +1.14% | +4.01% |
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 | HSBC Large Cap Fund (Direct) | Kotak Focused Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.24% | +10.63% |
| Standard deviation | 14.37% | 14.05% |
| Sharpe ratio | 0.17 | 0.34 |
| Sortino ratio | 0.23 | 0.47 |
| Maximum drawdown | −19.3% (17-06-2022) | −18.4% (20-06-2022) |
| Beta | 1.01 | 0.95 |
| Alpha | +1.01% | +1.97% |
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 | HSBC Large Cap Fund (Direct) | Kotak Focused Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.94% | +15.56% |
| Standard deviation | 16.15% | 16.56% |
| Sharpe ratio | 0.37 | 0.63 |
| Sortino ratio | 0.50 | 0.84 |
| Maximum drawdown | −36.0% (23-03-2020) | −36.3% (23-03-2020) |
| Beta | 1.00 | 0.94 |
| Alpha | −0.03% | +2.34% |
From daily NAVs, 02-01-2013 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.
HSBC Large Cap Fund (Direct)
Kotak Focused Fund (Direct)
Nifty 100 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HSBC Large Cap Fund (Direct) | −36.0% | 17-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −8.2% |
| Kotak Focused Fund (Direct) | −36.3% | 24-01-2020 | 23-03-2020 | 09-11-2020 | 8 months | −8.4% |
| Nifty 100 TRI | −37.9% | 17-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −10.1% |
From daily values since 23-07-2019, 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.
HSBC Large Cap Fund (Direct)
Kotak Focused Fund (Direct)
Nifty 100 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.
HSBC Large Cap Fund (Direct)
Kotak Focused Fund (Direct)
Nifty 100 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.
HSBC Large Cap Fund (Direct)
Kotak Focused Fund (Direct)
Nifty 100 TRI
Against Nifty 100 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| HSBC Large Cap Fund (Direct) | 98% | 94% | 3.59% |
| Kotak Focused Fund (Direct) | 100% | 82% | 4.32% |
From month-end values since 23-07-2019. 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.
HSBC Large Cap vs Kotak Focused: Portfolio Overlap
From each fund's latest monthly portfolio: HSBC Large Cap Fund, September 2026; Kotak Focused Fund, September 2026
Holdings in common
- Overlap
- 41.2%
- Held by both
- 12
- Only in HSBC Large Cap
- 25
- Only in Kotak Focused
- 17
| Security | % of HSBC Large Cap | % of Kotak Focused |
|---|---|---|
| ICICI Bank Limited | 8.66% | 6.89% |
| HDFC Bank Limited | 8.48% | 5.73% |
| Eternal Limited | 4.56% | 5.41% |
| Shriram Finance Limited | 4.48% | 4.66% |
| State Bank of India | 3.83% | 4.90% |
| Reliance Industries Limited | 6.26% | 3.51% |
| Bharti Airtel Limited | 3.50% | 4.17% |
| InterGlobe Aviation Limited | 2.84% | 2.88% |
| Larsen & Toubro Limited | 5.36% | 2.36% |
| UltraTech Cement Limited | 1.87% | 2.60% |
| Tech Mahindra Limited | 1.09% | 2.53% |
| Billionbrains Garage Ventures Ltd. | 0.52% | 3.14% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 41.2% means 41.2% 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 HSBC Large Cap Fund
| Security | % of fund |
|---|---|
| Sterlite Technologies Limited | 5.70% |
| Mahindra & Mahindra Limited | 2.94% |
| Infosys Limited | 2.83% |
| Axis Bank Limited | 2.79% |
| Tata Motors Limited | 2.40% |
Largest holdings only in Kotak Focused Fund
| Security | % of fund |
|---|---|
| Divis Laboratories Ltd. | 3.86% |
| KEI Industries Ltd. | 3.39% |
| Bharat Electronics Ltd. | 3.28% |
| GE VERNOVA T&D INDIA LIMITED | 3.19% |
| Radico Khaitan Ltd. | 3.11% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HSBC Large Cap | Kotak Focused |
|---|---|---|
| Equity | 96.7% | 95.8% |
| Debt | 0.0% | 0.0% |
| Cash and others | 3.3% | 4.2% |
Market cap of stocks
| Market cap | HSBC Large Cap | Kotak Focused |
|---|---|---|
| Large Cap | 81.2% | 58.6% |
| Mid Cap | 7.3% | 31.5% |
| Small Cap | 6.8% | 5.5% |
| Not on AMFI's list | 1.5% | 0.2% |
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 | HSBC Large Cap | Kotak Focused |
|---|---|---|
| Banks | 23.8% | 17.5% |
| Finance | 6.7% | 10.2% |
| Retailing | 9.8% | 5.4% |
| Petroleum Products | 6.3% | 3.5% |
| Aerospace and Defense | 0.0% | 6.2% |
| Healthcare Services | 2.1% | 5.8% |
| Telecom - Equipment & Accessories | 5.7% | 0.0% |
| Automobiles | 5.3% | 5.7% |
| Construction | 5.4% | 2.4% |
The six largest sectors of each fund's stocks, % of the fund.
HSBC Large Cap vs Kotak Focused: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HSBC Large Cap Fund | Kotak Focused Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.42% | 0.73% |
| Base expense ratio (Direct) | 1.03% | 0.51% |
| Total expense ratio (Regular) | 2.32% | 2.04% |
| Base expense ratio (Regular) | 1.79% | 1.62% |
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 HSBC Large Cap with
HSBC Large Cap Fund vs Kotak Focused Fund: Frequently Asked Questions
What is the difference between HSBC Large Cap Fund and Kotak Focused Fund?
HSBC Large Cap Fund is a Large Cap fund, Kotak Focused Fund is a Focused fund, run by HSBC Mutual Fund and Kotak Mahindra Mutual Fund. Their portfolios overlap 41.2%. HSBC Large Cap Fund charges 1.42% a year and Kotak Focused Fund 0.73%.
Which has given higher returns, HSBC Large Cap Fund or Kotak Focused Fund?
Over 1 year: HSBC Large Cap Fund −5.32%, Kotak Focused Fund −2.55%. Over 3 years: HSBC Large Cap Fund +10.25% a year, Kotak Focused Fund +14.10% a year. Over 5 years: HSBC Large Cap Fund +8.24% a year, Kotak Focused Fund +10.63% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HSBC Large Cap Fund or Kotak Focused Fund?
Kotak Focused Fund charges less: 0.73% a year against 1.42%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HSBC Large Cap Fund and Kotak Focused Fund overlap?
41.2%. They hold 12 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, ETERNAL. From each fund's latest monthly portfolio.
Which is riskier, HSBC Large Cap Fund or Kotak Focused Fund?
On SEBI's riskometer, HSBC Large Cap Fund is rated Very High and Kotak Focused Fund Very High. Over 3 years, the standard deviation of daily returns was 14.12% and 14.22% a year.
Which is better for SIP, HSBC Large Cap Fund or Kotak Focused Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,40,216 in HSBC Large Cap Fund (XIRR 7.6% a year) and ₹8,02,093 in Kotak Focused Fund (XIRR 10.7% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both HSBC Large Cap Fund and Kotak Focused Fund?
Yes. 41.2% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages HSBC Large Cap Fund and Kotak Focused Fund?
HSBC Large Cap Fund: Neelotpal Sahai, Mayank Chaturvedi, Dipan S. Parikh. Kotak Focused Fund: Shibani Kurian.
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.