ICICI Prudential Manufacturing Fund vs Kotak Manufacture In India Fund
Direct Plan, Growth option · Data as on 30-10-2026
ICICI Prudential Manufacturing Fund is a Thematic fund and Kotak Manufacture In India Fund is a Thematic fund. In the 3 years to 30-10-2026, ICICI Prudential Manufacturing Fund (Direct) returned 17.7% a year and Kotak Manufacture In India Fund (Direct) returned 18.9% a year. ICICI Prudential Manufacturing Fund charges 1.20% a year and Kotak Manufacture In India Fund 0.76% (Direct plans). Their portfolios overlap 23.8%: they hold 14 of the same securities.
ICICI Prudential Manufacturing Fund
Thematic
- 3 year return
- 17.7%
- Expense ratio
- 1.20%
- NAV
- ₹39.19
Kotak Manufacture In India Fund
Thematic
- 3 year return
- 18.9%
- Expense ratio
- 0.76%
- NAV
- ₹22.21
Which is better, ICICI Prudential Manufacturing or Kotak Manufacture In India? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Kotak Manufacture In India returned more over 3 years: 18.9% a year against 17.7%.
- Kotak Manufacture In India returned more over 1 year: 6.2% against −0.1%.
- Kotak Manufacture In India costs less: 0.76% a year against 1.20% (Direct plans).
- ICICI Prudential Manufacturing swung less over 3 years: a standard deviation of 15.8% a year against 15.9%.
- Kotak Manufacture In India fell less in its worst fall since 02-03-2022: −22.3% against −22.8%.
- ICICI Prudential Manufacturing holds more in large companies: 50.9% of the fund in large caps against 38.6%.
- ICICI Prudential Manufacturing is the larger fund: ₹6,918 Cr against ₹3,132 Cr.
- Their portfolios overlap 23.8%: 14 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 Manufacturing Fund | Kotak Manufacture In India Fund |
|---|---|---|
| Fund house | ICICI Prudential Mutual Fund | Kotak Mahindra Mutual Fund |
| Category | Thematic | Thematic |
| AUM | ₹6,918 Cr (30-09-2026) | ₹3,132 Cr (30-09-2026) |
| NAV | ₹39.19 (Direct) | ₹22.21 (Direct) |
| Expense ratio (Direct) | 1.20% | 0.76% |
| Expense ratio (Regular) | 2.12% | 2.08% |
| Riskometer | Not available | Very High |
| Benchmark | Nifty India Manufacturing TRI | Nifty India Manufacturing TRI |
| Launch date | 11-10-2018 | 22-02-2022 |
| Minimum investment | ₹5,000 | ₹100 |
| Lock in | None | None |
| Fund managers | Roshan Chutkey, Sharmila D’silva | Harsha Upadhyaya, Abhishek Bisen |
| Exit load | • 1% of applicable Net Asset Value - If the amount, sought to be redeemed or switch out within a period of one month from the date of allotment • Nil - If the amount, sought to be redeemed or switch out after a period of more than one month from the date of allotment | 0.5% for redemption within 90 Days |
ICICI Prudential Manufacturing vs Kotak Manufacture In India: 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 Manufacturing Fund (Direct) | −4.41% | −8.07% | −2.78% | −0.08% | +17.66% | +17.06% | -- |
| Kotak Manufacture In India Fund (Direct) | −5.87% | −3.37% | +3.31% | +6.20% | +18.88% | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | +13.76% | -- | -- |
Category average: the average of the 235 Thematic funds, same plan type.
ICICI Prudential Manufacturing vs Kotak Manufacture In India: Year-wise Returns
| Year | ICICI Prudential ManufacturingICICI Prudential Manufacturing | Kotak Manufacture In IndiaKotak Manufacture In India | Nifty India Manufacturing TRI |
|---|---|---|---|
| 2026to date | +0.88% | +5.71% | −2.54% |
| 2025 | +10.43% | +9.02% | +12.28% |
| 2024 | +22.96% | +27.83% | +25.99% |
| 2023 | +48.55% | +34.40% | +34.87% |
| 2022 | +8.38% | -- | +5.28% |
| 2021 | +46.50% | -- | -- |
ICICI Prudential Manufacturing vs Kotak Manufacture In India: Rolling Returns
Every holding period of both funds, against Nifty India Manufacturing TRI, the benchmark of both
Rolling returns
Every 3-year holding period, 409 of them, one for each trading day from 03-03-2025 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.
ICICI Prudential Manufacturing Fund (Direct)
Kotak Manufacture In India Fund (Direct)
Nifty India Manufacturing TRI
to
Apr 2025Aug 2022
to
Aug 2025Nov 2022
to
Nov 2025Feb 2023
to
Feb 2026Jun 2023
to
Jun 2026Sept 2023
to
Sept 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 Manufacturing | 0.0 | 0.0 | 0.0 | 0.0 | 8.6 | 34.5 | 57.0 | 25.1% | 25.6% | 16.8% | 31.5% | 100% |
| Kotak Manufacture In India | 0.0 | 0.0 | 0.0 | 0.0 | 13.7 | 81.9 | 4.4 | 21.9% | 21.9% | 16.0% | 26.1% | 33% |
| Nifty India Manufacturing TRI | 0.0 | 0.0 | 0.0 | 0.5 | 20.8 | 69.2 | 9.5 | 22.1% | 22.4% | 14.9% | 27.7% | -- |
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 India Manufacturing 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 02-03-2022. Past returns do not promise future returns.
ICICI Prudential Manufacturing vs Kotak Manufacture In India: 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 02-03-2022 to 30-10-2026: 56 instalments, ₹5,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| ICICI Prudential ManufacturingICICI Prudential Manufacturing Fund (Direct) | ₹5,60,000 | ₹7,97,342 | ₹2,37,342 | 15.2% |
| Kotak Manufacture In IndiaKotak Manufacture In India Fund (Direct) | ₹5,60,000 | ₹8,12,953 | ₹2,52,953 | 16.1% |
ICICI Prudential ManufacturingICICI Prudential Manufacturing Fund (Direct)
Kotak Manufacture In IndiaKotak Manufacture In India 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 Manufacturing vs Kotak Manufacture In India: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | ICICI Prudential Manufacturing Fund (Direct) | Kotak Manufacture In India Fund (Direct) |
|---|---|---|
| Return (CAGR) | −0.08% | +6.20% |
| Standard deviation | 15.82% | 15.82% |
| Sharpe ratio | -0.34 | 0.06 |
| Sortino ratio | -0.45 | 0.08 |
| Maximum drawdown | −12.6% (23-10-2026) | −11.6% (23-03-2026) |
| Beta | 0.97 | 0.96 |
| Alpha | +1.39% | +7.63% |
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 | ICICI Prudential Manufacturing Fund (Direct) | Kotak Manufacture In India Fund (Direct) |
|---|---|---|
| Return (CAGR) | +17.66% | +18.88% |
| Standard deviation | 15.83% | 15.92% |
| Sharpe ratio | 0.73 | 0.81 |
| Sortino ratio | 1.00 | 1.09 |
| Maximum drawdown | −22.8% (28-02-2025) | −22.3% (28-02-2025) |
| Beta | 0.96 | 0.97 |
| Alpha | +0.94% | +2.09% |
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 | ICICI Prudential Manufacturing Fund (Direct) | Kotak Manufacture In India Fund (Direct) |
|---|---|---|
| Return (CAGR) | +18.43% | +18.64% |
| Standard deviation | 16.85% | 14.54% |
| Sharpe ratio | 0.78 | 0.87 |
| Sortino ratio | 1.06 | 1.18 |
| Maximum drawdown | −37.6% (23-03-2020) | −22.3% (28-02-2025) |
| Beta | -- | 0.93 |
| Alpha | -- | +3.05% |
From daily NAVs, 12-10-2018 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.
ICICI Prudential Manufacturing Fund (Direct)
Kotak Manufacture In India Fund (Direct)
Nifty India Manufacturing TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| ICICI Prudential Manufacturing Fund (Direct) | −22.8% | 27-09-2024 | 28-02-2025 | 29-10-2025 | 8 months | −11.0% |
| Kotak Manufacture In India Fund (Direct) | −22.3% | 27-09-2024 | 28-02-2025 | 18-09-2025 | 7 months | −8.5% |
| Nifty India Manufacturing TRI | −23.0% | 27-09-2024 | 07-04-2025 | 05-01-2026 | 9 months | −10.5% |
From daily values since 02-03-2022, 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 Manufacturing Fund (Direct)
Kotak Manufacture In India Fund (Direct)
Nifty India Manufacturing 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.
ICICI Prudential Manufacturing Fund (Direct)
Kotak Manufacture In India Fund (Direct)
Nifty India Manufacturing TRI
Against Nifty India Manufacturing TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| ICICI Prudential Manufacturing Fund (Direct) | 104% | 90% | 4.91% |
| Kotak Manufacture In India Fund (Direct) | 97% | 81% | 5.17% |
From month-end values since 02-03-2022. 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 Manufacturing vs Kotak Manufacture In India: Portfolio Overlap
From each fund's latest monthly portfolio: ICICI Prudential Manufacturing Fund, September 2026; Kotak Manufacture In India Fund, September 2026
Holdings in common
- Overlap
- 23.8%
- Held by both
- 14
- Only in ICICI Prudential Manufacturing
- 56
- Only in Kotak Manufacture In India
- 46
| Security | % of ICICI Prudential Manufacturing | % of Kotak Manufacture In India |
|---|---|---|
| Sun Pharmaceutical Industries Ltd. | 3.91% | 4.35% |
| Mahindra & Mahindra Ltd. | 5.16% | 3.53% |
| Reliance Industries Ltd. | 5.90% | 2.84% |
| Maruti Suzuki India Ltd. | 3.91% | 2.48% |
| Bharat Electronics Ltd. | 2.05% | 2.51% |
| Hindalco Industries Ltd. | 1.93% | 2.41% |
| Ultratech Cement Ltd. | 2.85% | 1.49% |
| TVS Motor Company Ltd. | 1.19% | 3.28% |
| Biocon Ltd. | 1.54% | 1.18% |
| Carborundum Universal Ltd. | 1.51% | 1.00% |
| Indo-Mim Ltd. | 0.89% | 3.27% |
| Hero Motocorp Ltd. | 0.57% | 2.68% |
| Schaeffler India Ltd. | 0.53% | 1.12% |
| Anthem Biosciences Ltd | 0.23% | 1.18% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 23.8% means 23.8% 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 Manufacturing Fund
| Security | % of fund |
|---|---|
| Dr. Reddy's Laboratories Ltd. | 4.67% |
| Larsen & Toubro Ltd. | 3.31% |
| Hyundai Motor India Ltd. | 3.23% |
| JSW Steel Ltd. | 3.03% |
| Samvardhana Motherson International Ltd. | 2.99% |
Largest holdings only in Kotak Manufacture In India Fund
| Security | % of fund |
|---|---|
| RUBICON RESEARCH LIMITED | 4.31% |
| Divis Laboratories Ltd. | 3.71% |
| Tata Steel Ltd. | 3.41% |
| DEE DEVELOPMENT ENGINEEERS LTD | 2.92% |
| Graphite India Limited. | 2.44% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | ICICI Prudential Manufacturing | Kotak Manufacture In India |
|---|---|---|
| Equity | 97.0% | 95.9% |
| Debt | 0.2% | 0.0% |
| Cash and others | 2.9% | 4.1% |
Market cap of stocks
| Market cap | ICICI Prudential Manufacturing | Kotak Manufacture In India |
|---|---|---|
| Large Cap | 50.9% | 38.6% |
| Mid Cap | 21.7% | 18.6% |
| Small Cap | 23.5% | 31.1% |
| Not on AMFI's list | 0.9% | 7.5% |
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 | ICICI Prudential Manufacturing | Kotak Manufacture In India |
|---|---|---|
| Pharmaceuticals and Biotechnology | 0.0% | 17.8% |
| Pharmaceuticals & Biotechnology | 14.6% | 0.0% |
| Automobiles | 14.6% | 13.7% |
| Industrial Manufacturing | 1.5% | 11.0% |
| Industrial Products | 9.0% | 7.9% |
| Electrical Equipment | 8.5% | 4.8% |
| Cement & Cement Products | 7.0% | 0.0% |
| Auto Components | 4.2% | 6.4% |
| Petroleum Products | 5.9% | 5.1% |
| Aerospace and Defense | 0.0% | 5.7% |
The six largest sectors of each fund's stocks, % of the fund.
ICICI Prudential Manufacturing vs Kotak Manufacture In India: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | ICICI Prudential Manufacturing Fund | Kotak Manufacture In India Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.20% | 0.76% |
| Base expense ratio (Direct) | 0.74% | 0.56% |
| Total expense ratio (Regular) | 2.12% | 2.08% |
| Base expense ratio (Regular) | 1.55% | 1.67% |
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.
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ICICI Prudential Manufacturing Fund vs Kotak Manufacture In India Fund: Frequently Asked Questions
What is the difference between ICICI Prudential Manufacturing Fund and Kotak Manufacture In India Fund?
ICICI Prudential Manufacturing Fund is a Thematic fund, Kotak Manufacture In India Fund is a Thematic fund, run by ICICI Prudential Mutual Fund and Kotak Mahindra Mutual Fund. Their portfolios overlap 23.8%. ICICI Prudential Manufacturing Fund charges 1.20% a year and Kotak Manufacture In India Fund 0.76%.
Which has given higher returns, ICICI Prudential Manufacturing Fund or Kotak Manufacture In India Fund?
Over 1 year: ICICI Prudential Manufacturing Fund −0.08%, Kotak Manufacture In India Fund +6.20%. Over 3 years: ICICI Prudential Manufacturing Fund +17.66% a year, Kotak Manufacture In India Fund +18.88% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, ICICI Prudential Manufacturing Fund or Kotak Manufacture In India Fund?
Kotak Manufacture In India Fund charges less: 0.76% a year against 1.20%. These are the Direct plans' total expense ratios reported to AMFI.
How much do ICICI Prudential Manufacturing Fund and Kotak Manufacture In India Fund overlap?
23.8%. They hold 14 of the same securities, the largest shared ones being SUNPHARMA, M&M, RELIANCE. From each fund's latest monthly portfolio.
Which is better for SIP, ICICI Prudential Manufacturing Fund or Kotak Manufacture In India Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹4,11,442 in ICICI Prudential Manufacturing Fund (XIRR 6.8% a year) and ₹4,38,835 in Kotak Manufacture In India Fund (XIRR 11.1% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both ICICI Prudential Manufacturing Fund and Kotak Manufacture In India Fund?
Yes. 23.8% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages ICICI Prudential Manufacturing Fund and Kotak Manufacture In India Fund?
ICICI Prudential Manufacturing Fund: Roshan Chutkey, Sharmila D’silva. Kotak Manufacture In India Fund: Harsha Upadhyaya, 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.