ICICI Prudential Commodities Fund vs Kotak Nifty Commodities Index Fund
Direct Plan, Growth option · Data as on 29-10-2026
ICICI Prudential Commodities Fund is a Thematic fund and Kotak Nifty Commodities Index Fund is an Index fund. In the year to 30-10-2026, ICICI Prudential Commodities Fund (Direct) returned −2.4% and Kotak Nifty Commodities Index Fund (Direct) returned −4.8%. ICICI Prudential Commodities Fund charges 1.04% a year and Kotak Nifty Commodities Index Fund 0.30% (Direct plans). Their portfolios overlap 33.0%: they hold 13 of the same securities.
ICICI Prudential Commodities Fund
Thematic
- 1 year return
- −2.4%
- Expense ratio
- 1.04%
- NAV
- ₹47.23
Kotak Nifty Commodities Index Fund
Index
- 1 year return
- −4.8%
- Expense ratio
- 0.30%
- NAV
- ₹11.25
Which is better, ICICI Prudential Commodities or Kotak Nifty Commodities Index? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- ICICI Prudential Commodities returned more over 1 year: −2.4% against −4.8%.
- Kotak Nifty Commodities Index costs less: 0.30% a year against 1.04% (Direct plans).
- ICICI Prudential Commodities fell less in its worst fall since 18-03-2025: −14.3% against −15.8%.
- ICICI Prudential Commodities holds 8.2% of the fund in foreign stocks; Kotak Nifty Commodities Index 0.0%.
- Kotak Nifty Commodities Index holds more in large companies: 85.5% of the fund in large caps against 39.0%.
- ICICI Prudential Commodities is the larger fund: ₹4,133 Cr against ₹283 Cr.
- Their portfolios overlap 33.0%: 13 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 | ICICI Prudential Commodities Fund | Kotak Nifty Commodities Index Fund |
|---|---|---|
| Fund house | ICICI Prudential Mutual Fund | Kotak Mahindra Mutual Fund |
| Category | Thematic | Index |
| AUM | ₹4,133 Cr (30-09-2026) | ₹283 Cr (30-09-2026) |
| NAV | ₹47.23 (Direct) | ₹11.25 (Direct) |
| Expense ratio (Direct) | 1.04% | 0.30% |
| Expense ratio (Regular) | 1.96% | 0.57% |
| Riskometer | Not available | Very High |
| Benchmark | Nifty Commodities TRI | Nifty Commodities TRI |
| Launch date | 15-10-2019 | 10-03-2025 |
| Minimum investment | ₹5,000 | ₹100 |
| Lock in | None | None |
| Fund managers | Lalit Kumar | Satish DondapatiFM 2 Mr. Abhishek Bisen, Jeetu Valechha Sonar |
| Exit load | Exit load of 1% if redeemed within 3 months. | Nil |
ICICI Prudential Commodities vs Kotak Nifty Commodities Index: 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 |
|---|---|---|---|---|---|---|---|
| ICICI Prudential Commodities Fund (Direct) | −6.18% | −7.54% | −8.89% | −2.42% | +14.92% | +13.00% | -- |
| Kotak Nifty Commodities Index Fund (Direct) | −3.65% | −8.47% | −11.93% | −4.81% | -- | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | +13.76% | +11.62% | -- |
Category average: the average of the 235 Thematic funds, same plan type.
ICICI Prudential Commodities vs Kotak Nifty Commodities Index: Year-wise Returns
| Year | ICICI Prudential CommoditiesICICI Prudential Commodities | Kotak Nifty Commodities IndexKotak Nifty Commodities Index | Nifty Commodities TRI |
|---|---|---|---|
| 2026to date | −3.61% | −5.07% | −4.63% |
| 2025 | +19.19% | -- | +18.42% |
| 2024 | +9.45% | -- | +6.11% |
| 2023 | +28.72% | -- | +30.65% |
| 2022 | +16.25% | -- | +8.67% |
| 2021 | +72.75% | -- | +49.79% |
ICICI Prudential Commodities vs Kotak Nifty Commodities Index: Rolling Returns
Every holding period of both funds, against Nifty Commodities TRI, the benchmark of both
Rolling returns
Every 1-year holding period, 153 of them, one for each trading day from 18-03-2026 to 29-10-2026: the yearly return (CAGR) of each, plotted on the day it ended. One lucky or unlucky start day cannot flatter or hide a fund.
ICICI Prudential Commodities Fund (Direct)
Kotak Nifty Commodities Index Fund (Direct)
Nifty Commodities TRI
to
Apr 2026May 2025
to
May 2026Jun 2025
to
Jun 2026Jul 2025
to
Jul 2026Sept 2025
to
Sept 2026Oct 2025
to
Oct 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ICICI Prudential Commodities | 3.9 | 7.2 | 18.3 | 29.4 | 19.0 | 13.7 | 8.5 | 14.0% | 12.9% | −2.4% | 31.1% | 71% |
| Kotak Nifty Commodities Index | 8.6 | 4.6 | 15.8 | 37.5 | 24.3 | 9.2 | 0.0 | 12.0% | 12.0% | −4.8% | 23.7% | 0% |
| Nifty Commodities TRI | 8.5 | 4.6 | 11.8 | 35.3 | 22.9 | 16.3 | 0.7 | 12.8% | 12.8% | −4.4% | 25.0% | -- |
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 Commodities 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 18-03-2025. Past returns do not promise future returns.
ICICI Prudential Commodities vs Kotak Nifty Commodities Index: 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 03-03-2025 to 29-10-2026: 20 instalments, ₹2,00,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| ICICI Prudential CommoditiesICICI Prudential Commodities Fund (Direct) | ₹2,00,000 | ₹2,01,065 | ₹1,065 | 0.6% |
| Kotak Nifty Commodities IndexKotak Nifty Commodities Index Fund (Direct) | ₹2,00,000 | ₹1,95,758 | −₹4,242 | −2.4% |
ICICI Prudential CommoditiesICICI Prudential Commodities Fund (Direct)
Kotak Nifty Commodities IndexKotak Nifty Commodities Index 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.
ICICI Prudential Commodities vs Kotak Nifty Commodities Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | ICICI Prudential Commodities Fund (Direct) | Kotak Nifty Commodities Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | −2.42% | −4.81% |
| Standard deviation | 18.97% | 16.01% |
| Sharpe ratio | -0.40 | -0.63 |
| Sortino ratio | -0.54 | -0.82 |
| Maximum drawdown | −14.3% (23-10-2026) | −15.8% (23-10-2026) |
| Beta | 1.08 | 1.00 |
| Alpha | +2.70% | −0.35% |
From daily NAVs, 29-10-2025 to 29-10-2026. 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 | ICICI Prudential Commodities Fund (Direct) | Kotak Nifty Commodities Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +24.69% | +6.23% |
| Standard deviation | 22.74% | 15.69% |
| Sharpe ratio | 0.86 | 0.05 |
| Sortino ratio | 1.17 | 0.07 |
| Maximum drawdown | −41.2% (24-03-2020) | −15.8% (23-10-2026) |
| Beta | 1.01 | 1.00 |
| Alpha | +7.83% | −0.81% |
From daily NAVs, 16-10-2019 to 29-10-2026. 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.
ICICI Prudential Commodities Fund (Direct)
Kotak Nifty Commodities Index Fund (Direct)
Nifty Commodities TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| ICICI Prudential Commodities Fund (Direct) | −14.3% | 26-08-2026 | 23-10-2026 | Not yet | -- | −12.0% |
| Kotak Nifty Commodities Index Fund (Direct) | −15.8% | 27-05-2026 | 23-10-2026 | Not yet | -- | −14.1% |
| Nifty Commodities TRI | −15.7% | 27-05-2026 | 23-10-2026 | Not yet | -- | −14.1% |
From daily values since 18-03-2025, 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.
ICICI Prudential Commodities Fund (Direct)
Kotak Nifty Commodities Index Fund (Direct)
Nifty Commodities TRI
Against Nifty Commodities TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| ICICI Prudential Commodities Fund (Direct) | 109% | 92% | 6.19% |
| Kotak Nifty Commodities Index Fund (Direct) | 98% | 102% | 0.38% |
From month-end values since 18-03-2025. 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.
ICICI Prudential Commodities vs Kotak Nifty Commodities Index: Portfolio Overlap
From each fund's latest monthly portfolio: ICICI Prudential Commodities Fund, September 2026; Kotak Nifty Commodities Index Fund, September 2026
Holdings in common
- Overlap
- 33.0%
- Held by both
- 13
- Only in ICICI Prudential Commodities
- 33
- Only in Kotak Nifty Commodities Index
- 17
| Security | % of ICICI Prudential Commodities | % of Kotak Nifty Commodities Index |
|---|---|---|
| JSW Steel Ltd. | 6.62% | 5.82% |
| Hindalco Industries Ltd. | 4.51% | 6.58% |
| Ultratech Cement Ltd. | 3.89% | 6.26% |
| Vedanta Aluminium Metal Ltd. | 6.57% | 3.38% |
| Vedanta Ltd. | 3.79% | 2.20% |
| Jindal Steel Ltd. | 7.67% | 2.03% |
| Tata Steel Ltd. | 2.00% | 7.38% |
| APL Apollo Tubes Ltd. | 2.85% | 1.92% |
| SRF Ltd. | 1.68% | 1.73% |
| Hindustan Petroleum Corporation Ltd. | 8.28% | 1.62% |
| UPL Ltd. | 3.90% | 1.46% |
| Bharat Petroleum Corporation Ltd. | 1.32% | 2.94% |
| Ambuja Cements Ltd. | 1.92% | 1.13% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 33.0% means 33.0% 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 ICICI Prudential Commodities Fund
| Security | % of fund |
|---|---|
| Jindal Stainless Ltd. | 4.69% |
| Usha Martin Ltd. | 3.79% |
| Navin Fluorine International Ltd. | 3.36% |
| Aarti Industries Ltd. | 2.86% |
| National Aluminium Company Ltd. | 2.40% |
Largest holdings only in Kotak Nifty Commodities Index Fund
| Security | % of fund |
|---|---|
| RELIANCE INDUSTRIES LTD. | 9.92% |
| NTPC LTD | 7.40% |
| Grasim Industries Ltd. | 5.58% |
| Coal India Limited | 4.91% |
| Oil And Natural Gas Corporation Ltd. | 4.23% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | ICICI Prudential Commodities | Kotak Nifty Commodities Index |
|---|---|---|
| Equity | 98.0% | 100.1% |
| Debt | 0.0% | 0.0% |
| Cash and others | 2.0% | -0.1% |
Market cap of stocks
| Market cap | ICICI Prudential Commodities | Kotak Nifty Commodities Index |
|---|---|---|
| Large Cap | 39.0% | 85.5% |
| Mid Cap | 26.9% | 14.6% |
| Small Cap | 23.8% | 0.0% |
| Foreign stocks | 8.2% | 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 | ICICI Prudential Commodities | Kotak Nifty Commodities Index |
|---|---|---|
| Ferrous Metals | 23.5% | 15.2% |
| Power | 0.0% | 22.5% |
| Non - Ferrous Metals | 18.2% | 10.0% |
| Chemicals & Petrochemicals | 17.6% | 0.0% |
| Petroleum Products | 9.6% | 16.9% |
| Cement and Cement Products | 0.0% | 14.4% |
| Industrial Products | 7.3% | 1.9% |
| Fertilizers & Agrochemicals | 7.0% | 0.0% |
| Oil | 0.0% | 5.4% |
The six largest sectors of each fund's stocks, % of the fund.
ICICI Prudential Commodities vs Kotak Nifty Commodities Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | ICICI Prudential Commodities Fund | Kotak Nifty Commodities Index Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.04% | 0.30% |
| Base expense ratio (Direct) | 0.84% | 0.17% |
| Total expense ratio (Regular) | 1.96% | 0.57% |
| Base expense ratio (Regular) | 1.63% | 0.40% |
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 ICICI Prudential Commodities with
ICICI Prudential Commodities Fund vs Kotak Nifty Commodities Index Fund: Frequently Asked Questions
What is the difference between ICICI Prudential Commodities Fund and Kotak Nifty Commodities Index Fund?
ICICI Prudential Commodities Fund is a Thematic fund, Kotak Nifty Commodities Index Fund is an Index fund, run by ICICI Prudential Mutual Fund and Kotak Mahindra Mutual Fund. Their portfolios overlap 33.0%. ICICI Prudential Commodities Fund charges 1.04% a year and Kotak Nifty Commodities Index Fund 0.30%.
Which has given higher returns, ICICI Prudential Commodities Fund or Kotak Nifty Commodities Index Fund?
Over 1 year: ICICI Prudential Commodities Fund −2.42%, Kotak Nifty Commodities Index Fund −4.81%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, ICICI Prudential Commodities Fund or Kotak Nifty Commodities Index Fund?
Kotak Nifty Commodities Index Fund charges less: 0.30% a year against 1.04%. These are the Direct plans' total expense ratios reported to AMFI.
How much do ICICI Prudential Commodities Fund and Kotak Nifty Commodities Index Fund overlap?
33.0%. They hold 13 of the same securities, the largest shared ones being JSWSTEEL, HINDALCO, ULTRACEMCO. From each fund's latest monthly portfolio.
Can I invest in both ICICI Prudential Commodities Fund and Kotak Nifty Commodities Index Fund?
Yes. 33.0% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages ICICI Prudential Commodities Fund and Kotak Nifty Commodities Index Fund?
ICICI Prudential Commodities Fund: Lalit Kumar. Kotak Nifty Commodities Index Fund: Satish DondapatiFM 2 Mr. Abhishek Bisen, Jeetu Valechha Sonar.
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.