ICICI Prudential NIFTY Metal ETF vs Kotak Nifty Commodities Index Fund
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
ICICI Prudential NIFTY Metal ETF is an ETF fund and Kotak Nifty Commodities Index Fund is an Index fund. In the year to 30-10-2026, ICICI Prudential NIFTY Metal ETF returned 10.3% and Kotak Nifty Commodities Index Fund (Direct) returned −4.8%. ICICI Prudential NIFTY Metal ETF charges 0.51% a year and Kotak Nifty Commodities Index Fund 0.30%. Their portfolios overlap 30.6%: they hold 8 of the same securities.
ICICI Prudential NIFTY Metal ETF
ETF
- 1 year return
- 10.3%
- Expense ratio
- 0.51%
- NAV
- ₹11.88
Kotak Nifty Commodities Index Fund
Index
- 1 year return
- −4.8%
- Expense ratio
- 0.30%
- NAV
- ₹11.25
Which is better, ICICI Prudential NIFTY Metal ETF 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 NIFTY Metal ETF returned more over 1 year: 10.3% against −4.8%.
- Kotak Nifty Commodities Index costs less: 0.30% a year against 0.51%.
- Kotak Nifty Commodities Index fell less in its worst fall since 18-03-2025: −15.8% against −16.1%.
- ICICI Prudential NIFTY Metal ETF is the larger fund: ₹978 Cr against ₹283 Cr.
- Their portfolios overlap 30.6%: 8 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 NIFTY Metal ETF | Kotak Nifty Commodities Index Fund |
|---|---|---|
| Fund house | ICICI Prudential Mutual Fund | Kotak Mahindra Mutual Fund |
| Category | ETF | Index |
| AUM | ₹978 Cr (30-09-2026) | ₹283 Cr (30-09-2026) |
| NAV | ₹11.88 | ₹11.25 (Direct) |
| Expense ratio (Direct) | Not available | 0.30% |
| Expense ratio (Regular) | Not available | 0.57% |
| Riskometer | Not available | Very High |
| Benchmark | Nifty Metal TRI | Nifty Commodities TRI |
| Launch date | 14-08-2024 | 10-03-2025 |
| Minimum investment | During Ongoing/Continuous During ongoing offer period: On Stock Exchanges: Investors can buy/sell units of the Scheme in round lot of 1 unit and in multiples thereof. Directly with the Mutual Fund: Authorized Participant(s)/ Investor(s) can buy/sell units | ₹100 |
| Lock in | None | None |
| Fund managers | Nishit Patel, Ashwini Shinde | Satish DondapatiFM 2 Mr. Abhishek Bisen, Jeetu Valechha Sonar |
| Exit load | Not available | Nil |
ICICI Prudential NIFTY Metal ETF 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 NIFTY Metal ETF | −7.53% | −7.07% | −7.94% | +10.32% | -- | -- | -- |
| Kotak Nifty Commodities Index Fund (Direct) | −3.65% | −8.47% | −11.93% | −4.81% | -- | -- | -- |
ICICI Prudential NIFTY Metal ETF vs Kotak Nifty Commodities Index: Year-wise Returns
| Year | ICICI Prudential NIFTY Metal ETFICICI Prudential NIFTY Metal ETF | Kotak Nifty Commodities IndexKotak Nifty Commodities Index |
|---|---|---|
| 2026to date | +6.00% | −5.07% |
| 2025 | +29.35% | -- |
ICICI Prudential NIFTY Metal ETF vs Kotak Nifty Commodities Index: Rolling Returns
Every holding period of both funds, against Nifty Metal TRI, the benchmark of ICICI Prudential NIFTY Metal ETF
Rolling returns
Every 1-year holding period, 152 of them, one for each trading day from 18-03-2026 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 NIFTY Metal ETF
Kotak Nifty Commodities Index Fund (Direct)
Nifty Metal 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 NIFTY Metal ETF | 0.0 | 0.0 | 0.0 | 3.3 | 7.2 | 6.6 | 82.9 | 36.8% | 37.8% | 10.3% | 58.2% | 0% |
| 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 Metal TRI | 0.0 | 0.0 | 0.0 | 3.3 | 5.9 | 6.6 | 84.2 | 37.7% | 38.6% | 11.2% | 58.9% | -- |
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 Metal 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 NIFTY Metal ETF 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 30-10-2026: 20 instalments, ₹2,00,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| ICICI Prudential NIFTY Metal ETFICICI Prudential NIFTY Metal ETF | ₹2,00,000 | ₹2,22,706 | ₹22,706 | 12.9% |
| Kotak Nifty Commodities IndexKotak Nifty Commodities Index Fund (Direct) | ₹2,00,000 | ₹1,95,758 | −₹4,242 | −2.4% |
ICICI Prudential NIFTY Metal ETFICICI Prudential NIFTY Metal ETF
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 NIFTY Metal ETF 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 NIFTY Metal ETF | Kotak Nifty Commodities Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.32% | −4.81% |
| Standard deviation | 23.07% | 16.01% |
| Sharpe ratio | 0.22 | -0.63 |
| Sortino ratio | 0.29 | -0.82 |
| Maximum drawdown | −16.1% (23-10-2026) | −15.8% (23-10-2026) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.82% | −0.35% |
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 NIFTY Metal ETF | Kotak Nifty Commodities Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.51% | +6.23% |
| Standard deviation | 22.66% | 15.69% |
| Sharpe ratio | 0.34 | 0.05 |
| Sortino ratio | 0.47 | 0.07 |
| Maximum drawdown | −23.2% (07-04-2025) | −15.8% (23-10-2026) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.65% | −0.81% |
From daily NAVs, 16-08-2024 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 NIFTY Metal ETF
Kotak Nifty Commodities Index Fund (Direct)
Nifty Metal TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| ICICI Prudential NIFTY Metal ETF | −16.1% | 27-05-2026 | 23-10-2026 | Not yet | -- | −13.9% |
| Kotak Nifty Commodities Index Fund (Direct) | −15.8% | 27-05-2026 | 23-10-2026 | Not yet | -- | −14.1% |
| Nifty Metal TRI | −15.7% | 27-05-2026 | 23-10-2026 | Not yet | -- | −13.4% |
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 NIFTY Metal ETF
Kotak Nifty Commodities Index Fund (Direct)
Nifty Metal TRI
Against Nifty Metal TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| ICICI Prudential NIFTY Metal ETF | 99% | 101% | 0.27% |
| Kotak Nifty Commodities Index Fund (Direct) | 48% | 67% | 11.69% |
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 NIFTY Metal ETF vs Kotak Nifty Commodities Index: Portfolio Overlap
From each fund's latest monthly portfolio: ICICI Prudential NIFTY Metal ETF, September 2026; Kotak Nifty Commodities Index Fund, September 2026
Holdings in common
- Overlap
- 30.6%
- Held by both
- 8
- Only in ICICI Prudential NIFTY Metal ETF
- 7
- Only in Kotak Nifty Commodities Index
- 22
| Security | % of ICICI Prudential NIFTY Metal ETF | % of Kotak Nifty Commodities Index |
|---|---|---|
| Tata Steel Ltd. | 17.29% | 7.38% |
| Hindalco Industries Ltd. | 15.42% | 6.58% |
| JSW Steel Ltd. | 13.65% | 5.82% |
| Vedanta Aluminium Metal Ltd. | 7.92% | 3.38% |
| Vedanta Ltd. | 5.16% | 2.20% |
| Jindal Steel Ltd. | 4.76% | 2.03% |
| APL Apollo Tubes Ltd. | 4.51% | 1.92% |
| NMDC Ltd. | 2.99% | 1.28% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 30.6% means 30.6% 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 NIFTY Metal ETF
| Security | % of fund |
|---|---|
| Adani Enterprises Ltd. | 11.13% |
| National Aluminium Company Ltd. | 3.46% |
| Hindustan Zinc Ltd. | 3.08% |
| Steel Authority Of India Ltd. | 2.97% |
| Lloyds Metals & Energy Ltd. | 2.92% |
Largest holdings only in Kotak Nifty Commodities Index Fund
| Security | % of fund |
|---|---|
| RELIANCE INDUSTRIES LTD. | 9.92% |
| NTPC LTD | 7.40% |
| Ultratech Cement Ltd. | 6.26% |
| Grasim Industries Ltd. | 5.58% |
| Coal India Limited | 4.91% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | ICICI Prudential NIFTY Metal ETF | Kotak Nifty Commodities Index |
|---|---|---|
| Equity | 100.0% | 100.1% |
| Debt | 0.0% | 0.0% |
| Cash and others | 0.0% | -0.1% |
Market cap of stocks
| Market cap | ICICI Prudential NIFTY Metal ETF | Kotak Nifty Commodities Index |
|---|---|---|
| Large Cap | 78.4% | 85.5% |
| Mid Cap | 21.6% | 14.6% |
| Small Cap | 0.0% | 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 NIFTY Metal ETF | Kotak Nifty Commodities Index |
|---|---|---|
| Ferrous Metals | 41.3% | 15.2% |
| Non - Ferrous Metals | 31.9% | 10.0% |
| Power | 0.0% | 22.5% |
| Petroleum Products | 0.0% | 16.9% |
| Cement and Cement Products | 0.0% | 14.4% |
| Metals & Minerals Trading | 11.1% | 0.0% |
| Minerals & Mining | 5.9% | 0.0% |
| Oil | 0.0% | 5.4% |
| Diversified Metals | 5.2% | 2.2% |
| Industrial Products | 4.5% | 1.9% |
The six largest sectors of each fund's stocks, % of the fund.
ICICI Prudential NIFTY Metal ETF vs Kotak Nifty Commodities Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | ICICI Prudential NIFTY Metal ETF | Kotak Nifty Commodities Index Fund |
|---|---|---|
| Total expense ratio (Direct) | Not available | 0.30% |
| Base expense ratio (Direct) | 0.00% | 0.17% |
| Total expense ratio (Regular) | Not available | 0.57% |
| Base expense ratio (Regular) | 0.34% | 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.
ICICI Prudential NIFTY Metal ETF vs Kotak Nifty Commodities Index Fund: Frequently Asked Questions
What is the difference between ICICI Prudential NIFTY Metal ETF and Kotak Nifty Commodities Index Fund?
ICICI Prudential NIFTY Metal ETF is an ETF fund, Kotak Nifty Commodities Index Fund is an Index fund, run by ICICI Prudential Mutual Fund and Kotak Mahindra Mutual Fund. Their portfolios overlap 30.6%. ICICI Prudential NIFTY Metal ETF charges 0.51% a year and Kotak Nifty Commodities Index Fund 0.30%.
Which has given higher returns, ICICI Prudential NIFTY Metal ETF or Kotak Nifty Commodities Index Fund?
Over 1 year: ICICI Prudential NIFTY Metal ETF +10.32%, 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 NIFTY Metal ETF or Kotak Nifty Commodities Index Fund?
Kotak Nifty Commodities Index Fund charges less: 0.30% a year against 0.51%. These are the total expense ratios reported to AMFI.
How much do ICICI Prudential NIFTY Metal ETF and Kotak Nifty Commodities Index Fund overlap?
30.6%. They hold 8 of the same securities, the largest shared ones being TATASTEEL, HINDALCO, JSWSTEEL. From each fund's latest monthly portfolio.
Can I invest in both ICICI Prudential NIFTY Metal ETF and Kotak Nifty Commodities Index Fund?
Yes. 30.6% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages ICICI Prudential NIFTY Metal ETF and Kotak Nifty Commodities Index Fund?
ICICI Prudential NIFTY Metal ETF: Nishit Patel, Ashwini Shinde. 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.