ICICI Prudential MNC Fund vs Kotak Nifty MNC ETF
Direct Plan where a fund has one, Growth option · Data as on 29-10-2026
ICICI Prudential MNC Fund is a Thematic fund and Kotak Nifty MNC ETF is an ETF fund. In the 3 years to 30-10-2026, ICICI Prudential MNC Fund (Direct) returned 9.8% a year and Kotak Nifty MNC ETF returned 10.3% a year. ICICI Prudential MNC Fund charges 1.26% a year and Kotak Nifty MNC ETF 0.40%. Their portfolios overlap 41.3%: they hold 14 of the same securities.
ICICI Prudential MNC Fund
Thematic
- 3 year return
- 9.8%
- Expense ratio
- 1.26%
- NAV
- ₹31.01
Which is better, ICICI Prudential MNC or Kotak Nifty MNC ETF? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Kotak Nifty MNC ETF returned more over 3 years: 10.3% a year against 9.8%.
- ICICI Prudential MNC returned more over 1 year: −1.9% against −5.3%.
- Kotak Nifty MNC ETF costs less: 0.40% a year against 1.26%.
- ICICI Prudential MNC swung less over 3 years: a standard deviation of 11.5% a year against 14.0%.
- ICICI Prudential MNC fell less in its worst fall since 11-08-2022: −19.5% against −23.6%.
- Kotak Nifty MNC ETF holds more in large companies: 66.0% of the fund in large caps against 42.9%.
- ICICI Prudential MNC is the larger fund: ₹1,703 Cr against ₹45 Cr.
- Their portfolios overlap 41.3%: 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 MNC Fund | Kotak Nifty MNC ETF |
|---|---|---|
| Fund house | ICICI Prudential Mutual Fund | Kotak Mahindra Mutual Fund |
| Category | Thematic | ETF |
| AUM | ₹1,703 Cr (30-09-2026) | ₹45 Cr (30-09-2026) |
| NAV | ₹31.01 (Direct) | ₹29.34 |
| Expense ratio (Direct) | 1.26% | Not available |
| Expense ratio (Regular) | 2.18% | Not available |
| Riskometer | Not available | Very High |
| Benchmark | Nifty MNC TRI | Nifty MNC TRI |
| Launch date | 17-06-2019 | 05-08-2022 |
| Minimum investment | ₹5,000 | Ongoing purchases directly from the Mutual Fund would be restricted to Market Makers and Large Investors provided the value of units to be purchased is in creation unit size or multiples thereof. Market Makers andLarge Investors may buy the units on any b |
| Lock in | None | None |
| Fund managers | Roshan Chutkey, Sharmila D’mello | Satish Dondapati, Abhishek Bisen, Jeetu Valechha Sonar |
| Exit load | 1 % of applicable Net Asset Value If the amount sought to be redeemed or switch out within 1 month from allotment. Nil If the amount sought to be redeemed or switched out more than 1 month. | NIL |
ICICI Prudential MNC vs Kotak Nifty MNC ETF: 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 MNC Fund (Direct) | −3.64% | −7.71% | −2.97% | −1.93% | +9.81% | +10.02% | -- |
| Kotak Nifty MNC ETF | −6.24% | −13.17% | −10.27% | −5.30% | +10.35% | -- | -- |
| 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 MNC vs Kotak Nifty MNC ETF: Year-wise Returns
| Year | ICICI Prudential MNCICICI Prudential MNC | Kotak Nifty MNC ETFKotak Nifty MNC ETF | Nifty MNC TRI |
|---|---|---|---|
| 2026to date | −3.28% | −6.18% | −5.55% |
| 2025 | +6.51% | +10.28% | +10.75% |
| 2024 | +17.72% | +16.17% | +16.63% |
| 2023 | +28.04% | +23.70% | +24.10% |
| 2022 | +0.91% | -- | +3.83% |
| 2021 | +42.89% | -- | +24.64% |
ICICI Prudential MNC vs Kotak Nifty MNC ETF: Rolling Returns
Every holding period of both funds, against Nifty MNC TRI, the benchmark of both
Rolling returns
Every 3-year holding period, 300 of them, one for each trading day from 11-08-2025 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 MNC Fund (Direct)
Kotak Nifty MNC ETF
Nifty MNC TRI
to
Sept 2025Nov 2022
to
Nov 2025Feb 2023
to
Feb 2026Apr 2023
to
Apr 2026Jul 2023
to
Jul 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 MNC | 0.0 | 0.0 | 8.3 | 36.3 | 55.3 | 0.0 | 0.0 | 14.6% | 15.2% | 8.4% | 17.6% | 7% |
| Kotak Nifty MNC ETF | 0.0 | 0.0 | 0.7 | 26.7 | 72.7 | 0.0 | 0.0 | 15.6% | 15.8% | 9.3% | 19.7% | 0% |
| Nifty MNC TRI | 0.0 | 0.0 | 0.7 | 19.7 | 78.7 | 1.0 | 0.0 | 16.0% | 16.2% | 9.8% | 20.1% | -- |
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 MNC 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 11-08-2022. Past returns do not promise future returns.
ICICI Prudential MNC vs Kotak Nifty MNC ETF: 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 01-08-2022 to 29-10-2026: 51 instalments, ₹5,10,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| ICICI Prudential MNCICICI Prudential MNC Fund (Direct) | ₹5,10,000 | ₹5,99,428 | ₹89,428 | 7.6% |
| Kotak Nifty MNC ETFKotak Nifty MNC ETF | ₹5,10,000 | ₹5,81,145 | ₹71,145 | 6.1% |
ICICI Prudential MNCICICI Prudential MNC Fund (Direct)
Kotak Nifty MNC ETFKotak Nifty MNC ETF
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 MNC vs Kotak Nifty MNC ETF: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | ICICI Prudential MNC Fund (Direct) | Kotak Nifty MNC ETF |
|---|---|---|
| Return (CAGR) | −1.93% | −5.30% |
| Standard deviation | 12.84% | 15.54% |
| Sharpe ratio | -0.56 | -0.68 |
| Sortino ratio | -0.74 | -0.88 |
| Maximum drawdown | −13.3% (23-10-2026) | −18.0% (23-10-2026) |
| Beta | 0.77 | 1.00 |
| Alpha | +0.35% | −0.33% |
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 MNC Fund (Direct) | Kotak Nifty MNC ETF |
|---|---|---|
| Return (CAGR) | +9.81% | +10.35% |
| Standard deviation | 11.47% | 14.05% |
| Sharpe ratio | 0.33 | 0.31 |
| Sortino ratio | 0.45 | 0.42 |
| Maximum drawdown | −19.5% (07-04-2025) | −23.6% (28-02-2025) |
| Beta | 0.75 | 1.00 |
| Alpha | +0.19% | −0.42% |
From daily NAVs, 27-10-2023 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 MNC Fund (Direct) | Kotak Nifty MNC ETF |
|---|---|---|
| Return (CAGR) | +16.59% | +10.39% |
| Standard deviation | 13.36% | 13.03% |
| Sharpe ratio | 0.86 | 0.32 |
| Sortino ratio | 1.16 | 0.44 |
| Maximum drawdown | −30.7% (23-03-2020) | −23.6% (28-02-2025) |
| Beta | 0.75 | 1.00 |
| Alpha | +5.66% | −0.38% |
From daily NAVs, 18-06-2019 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 MNC Fund (Direct)
Kotak Nifty MNC ETF
Nifty MNC TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| ICICI Prudential MNC Fund (Direct) | −19.5% | 27-09-2024 | 07-04-2025 | 02-07-2026 | 15 months | −10.6% |
| Kotak Nifty MNC ETF | −23.6% | 01-10-2024 | 28-02-2025 | 06-05-2026 | 14 months | −16.1% |
| Nifty MNC TRI | −23.5% | 01-10-2024 | 28-02-2025 | 29-04-2026 | 14 months | −16.0% |
From daily values since 11-08-2022, 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 MNC Fund (Direct)
Kotak Nifty MNC ETF
Nifty MNC 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 MNC Fund (Direct)
Kotak Nifty MNC ETF
Nifty MNC TRI
Against Nifty MNC TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| ICICI Prudential MNC Fund (Direct) | 84% | 73% | 6.66% |
| Kotak Nifty MNC ETF | 99% | 101% | 0.05% |
From month-end values since 11-08-2022. 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 MNC vs Kotak Nifty MNC ETF: Portfolio Overlap
From each fund's latest monthly portfolio: ICICI Prudential MNC Fund, September 2026; Kotak Nifty MNC ETF, September 2026
Holdings in common
- Overlap
- 41.3%
- Held by both
- 14
- Only in ICICI Prudential MNC
- 35
- Only in Kotak Nifty MNC ETF
- 16
| Security | % of ICICI Prudential MNC | % of Kotak Nifty MNC ETF |
|---|---|---|
| Hindustan Unilever Ltd. | 7.09% | 9.95% |
| Maruti Suzuki India Ltd. | 6.23% | 10.21% |
| Britannia Industries Ltd. | 4.83% | 5.32% |
| Nestle India Ltd. | 4.59% | 8.78% |
| Vedanta Aluminium Metal Ltd. | 3.84% | 6.54% |
| United Spirits Ltd. | 3.03% | 3.74% |
| Hyundai Motor India Ltd. | 3.77% | 2.70% |
| Gland Pharma Ltd. | 2.09% | 2.16% |
| Siemens Ltd. | 1.99% | 3.08% |
| Cummins India Ltd. | 1.32% | 6.01% |
| Abbott India Ltd. | 1.00% | 1.33% |
| ABB India Ltd. | 0.93% | 3.33% |
| Colgate - Palmolive (India) Ltd. | 0.85% | 2.17% |
| United Breweries Ltd. | 1.70% | 0.78% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 41.3% means 41.3% 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 ICICI Prudential MNC Fund
| Security | % of fund |
|---|---|
| Sona Blw Precision Forgings Ltd. | 4.88% |
| Sun Pharmaceutical Industries Ltd. | 4.08% |
| Dr. Reddy's Laboratories Ltd. | 3.95% |
| ZF Commercial Vehicle Control Systems India Ltd | 2.87% |
| Pearl Global Industries Ltd. | 2.82% |
Largest holdings only in Kotak Nifty MNC ETF
| Security | % of fund |
|---|---|
| VEDANTA LTD. | 4.26% |
| Ashok Leyland Ltd. | 4.12% |
| Bosch Limited | 3.82% |
| HITACHI ENERGY INDIA LTD. | 3.64% |
| SIEMENS ENERGY INDIA LTD | 2.64% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | ICICI Prudential MNC | Kotak Nifty MNC ETF |
|---|---|---|
| Equity | 96.6% | 100.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 3.4% | 0.0% |
Market cap of stocks
| Market cap | ICICI Prudential MNC | Kotak Nifty MNC ETF |
|---|---|---|
| Large Cap | 42.9% | 66.0% |
| Mid Cap | 22.2% | 28.0% |
| Small Cap | 30.8% | 6.0% |
| Foreign stocks | 0.7% | 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 MNC | Kotak Nifty MNC ETF |
|---|---|---|
| Pharmaceuticals & Biotechnology | 18.6% | 0.0% |
| Food Products | 9.4% | 14.1% |
| Automobiles | 11.0% | 12.9% |
| Electrical Equipment | 4.8% | 12.7% |
| Auto Components | 12.3% | 5.3% |
| Diversified FMCG | 0.0% | 9.9% |
| Diversified Fmcg | 7.1% | 0.0% |
| Industrial Products | 6.2% | 7.1% |
| Non - Ferrous Metals | 3.8% | 6.5% |
The six largest sectors of each fund's stocks, % of the fund.
ICICI Prudential MNC vs Kotak Nifty MNC ETF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | ICICI Prudential MNC Fund | Kotak Nifty MNC ETF |
|---|---|---|
| Total expense ratio (Direct) | 1.26% | Not available |
| Base expense ratio (Direct) | 0.99% | 0.00% |
| Total expense ratio (Regular) | 2.18% | Not available |
| Base expense ratio (Regular) | 1.80% | 0.25% |
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
ICICI Prudential MNC Fund vs Kotak Nifty MNC ETF: Frequently Asked Questions
What is the difference between ICICI Prudential MNC Fund and Kotak Nifty MNC ETF?
ICICI Prudential MNC Fund is a Thematic fund, Kotak Nifty MNC ETF is an ETF fund, run by ICICI Prudential Mutual Fund and Kotak Mahindra Mutual Fund. Their portfolios overlap 41.3%. ICICI Prudential MNC Fund charges 1.26% a year and Kotak Nifty MNC ETF 0.40%.
Which has given higher returns, ICICI Prudential MNC Fund or Kotak Nifty MNC ETF?
Over 1 year: ICICI Prudential MNC Fund −1.93%, Kotak Nifty MNC ETF −5.30%. Over 3 years: ICICI Prudential MNC Fund +9.81% a year, Kotak Nifty MNC ETF +10.35% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, ICICI Prudential MNC Fund or Kotak Nifty MNC ETF?
Kotak Nifty MNC ETF charges less: 0.40% a year against 1.26%. These are the total expense ratios reported to AMFI.
How much do ICICI Prudential MNC Fund and Kotak Nifty MNC ETF overlap?
41.3%. They hold 14 of the same securities, the largest shared ones being HINDUNILVR, MARUTI, BRITANNIA. From each fund's latest monthly portfolio.
Which is better for SIP, ICICI Prudential MNC Fund or Kotak Nifty MNC ETF?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 29-10-2026 grew to ₹3,90,161 in ICICI Prudential MNC Fund (XIRR 3.4% a year) and ₹3,78,003 in Kotak Nifty MNC ETF (XIRR 1.4% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both ICICI Prudential MNC Fund and Kotak Nifty MNC ETF?
Yes. 41.3% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages ICICI Prudential MNC Fund and Kotak Nifty MNC ETF?
ICICI Prudential MNC Fund: Roshan Chutkey, Sharmila D’mello. Kotak Nifty MNC ETF: Satish Dondapati, 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.