JioBlackRock Flexi Cap Fund vs Kotak MSCI India ETF
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
JioBlackRock Flexi Cap Fund is a Flexi Cap fund and Kotak MSCI India ETF is an ETF fund. In the year to 30-10-2026, JioBlackRock Flexi Cap Fund (Direct) returned −8.5% and Kotak MSCI India ETF returned −8.0%. JioBlackRock Flexi Cap Fund charges 1.11% a year and Kotak MSCI India ETF 0.24%. Their portfolios overlap 47.8%: they hold 61 of the same securities.
JioBlackRock Flexi Cap Fund
Flexi Cap
- 1 year return
- −8.5%
- Expense ratio
- 1.11%
- NAV
- ₹9.34
Which is better, JioBlackRock Flexi Cap or Kotak MSCI India 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 MSCI India ETF returned more over 1 year: −8.0% against −8.5%.
- Kotak MSCI India ETF costs less: 0.24% a year against 1.11%.
- JioBlackRock Flexi Cap fell less in its worst fall since 17-10-2025: −14.3% against −14.6%.
- Kotak MSCI India ETF holds more in large companies: 80.6% of the fund in large caps against 60.6%.
- JioBlackRock Flexi Cap is the larger fund: ₹3,175 Cr against ₹1,749 Cr.
- Their portfolios overlap 47.8%: 61 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 | JioBlackRock Flexi Cap Fund | Kotak MSCI India ETF |
|---|---|---|
| Fund house | Jio BlackRock Mutual Fund | Kotak Mahindra Mutual Fund |
| Category | Flexi Cap | ETF |
| AUM | ₹3,175 Cr (30-09-2026) | ₹1,749 Cr (30-09-2026) |
| NAV | ₹9.34 (Direct) | ₹28.23 |
| Expense ratio (Direct) | 1.11% | Not available |
| Expense ratio (Regular) | 2.34% | Not available |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | MSCI India TRI |
| Launch date | 13-10-2025 | 19-02-2025 |
| Minimum investment | ₹500 | Ongoing purchases directly from the Mutual Fund would be restricted to Market Makers and Large Investors (subject to transactions greater than INR 25 crores or such other amount as may be specified by SEBI from time to time) provided the value of units to |
| Lock in | None | None |
| Fund managers | Sahil Chaudhary, Tanvi Kacheria | Satish Dondapati, Abhishek Bisen, Jeetu Valechha Sonar |
| Exit load | Nil | NIL |
JioBlackRock Flexi Cap vs Kotak MSCI India 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 |
|---|---|---|---|---|---|---|---|
| JioBlackRock Flexi Cap Fund (Direct) | −2.70% | −6.41% | −3.63% | −8.49% | -- | -- | -- |
| Kotak MSCI India ETF | +0.29% | −5.98% | −3.50% | −8.03% | -- | -- | -- |
| Flexi Cap average | −1.62% | −4.17% | +1.00% | −3.58% | -- | -- | -- |
Category average: the average of the 46 Flexi Cap funds, same plan type.
JioBlackRock Flexi Cap vs Kotak MSCI India ETF: Year-wise Returns
| Year | JioBlackRock Flexi CapJioBlackRock Flexi Cap | Kotak MSCI India ETFKotak MSCI India ETF |
|---|---|---|
| 2026to date | −9.11% | −8.95% |
JioBlackRock Flexi Cap vs Kotak MSCI India ETF: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of JioBlackRock Flexi Cap Fund
JioBlackRock Flexi Cap vs Kotak MSCI India 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 17-10-2025 to 30-10-2026: 13 instalments, ₹1,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| JioBlackRock Flexi CapJioBlackRock Flexi Cap Fund (Direct) | ₹1,30,000 | ₹1,22,782 | −₹7,218 | −9.5% |
| Kotak MSCI India ETFKotak MSCI India ETF | ₹1,30,000 | ₹1,24,059 | −₹5,941 | −7.8% |
JioBlackRock Flexi CapJioBlackRock Flexi Cap Fund (Direct)
Kotak MSCI India ETFKotak MSCI India 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.
JioBlackRock Flexi Cap vs Kotak MSCI India ETF: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | JioBlackRock Flexi Cap Fund (Direct) | Kotak MSCI India ETF |
|---|---|---|
| Return (CAGR) | −8.49% | −8.03% |
| Standard deviation | 14.47% | 14.22% |
| Sharpe ratio | -0.95 | -0.93 |
| Sortino ratio | -1.26 | -1.24 |
| Maximum drawdown | −14.3% (30-03-2026) | −14.6% (31-03-2026) |
| Beta | 0.99 | -- |
| Alpha | −1.26% | -- |
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 | JioBlackRock Flexi Cap Fund (Direct) | Kotak MSCI India ETF |
|---|---|---|
| Return (CAGR) | −7.16% | +4.02% |
| Standard deviation | 14.27% | 13.78% |
| Sharpe ratio | -0.87 | -0.10 |
| Sortino ratio | -1.16 | -0.14 |
| Maximum drawdown | −14.3% (30-03-2026) | −14.6% (31-03-2026) |
| Beta | 0.99 | -- |
| Alpha | −1.13% | -- |
From daily NAVs, 17-10-2025 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.
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.
JioBlackRock Flexi Cap Fund (Direct)
Kotak MSCI India ETF
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| JioBlackRock Flexi Cap Fund (Direct) | −14.3% | 11-02-2026 | 30-03-2026 | Not yet | -- | −9.8% |
| Kotak MSCI India ETF | −14.6% | 02-01-2026 | 31-03-2026 | Not yet | -- | −10.1% |
| Nifty 500 TRI | −14.7% | 02-01-2026 | 30-03-2026 | Not yet | -- | −8.4% |
From daily values since 17-10-2025, 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.
JioBlackRock Flexi Cap Fund (Direct)
Kotak MSCI India ETF
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| JioBlackRock Flexi Cap Fund (Direct) | 98% | 105% | 2.89% |
| Kotak MSCI India ETF | 90% | 97% | 2.25% |
From month-end values since 17-10-2025. 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.
JioBlackRock Flexi Cap vs Kotak MSCI India ETF: Portfolio Overlap
From each fund's latest monthly portfolio: JioBlackRock Flexi Cap Fund, September 2026; Kotak MSCI India ETF, September 2026
Holdings in common
- Overlap
- 47.8%
- Held by both
- 61
- Only in JioBlackRock Flexi Cap
- 76
- Only in Kotak MSCI India ETF
- 104
| Security | % of JioBlackRock Flexi Cap | % of Kotak MSCI India ETF |
|---|---|---|
| HDFC Bank Ltd | 5.90% | 6.44% |
| ICICI Bank Ltd | 5.69% | 5.60% |
| Bharti Airtel Ltd | 4.31% | 3.93% |
| Reliance Industries Ltd | 3.05% | 5.44% |
| Mahindra & Mahindra Ltd | 2.88% | 2.05% |
| Infosys Ltd | 1.90% | 2.41% |
| Larsen & Toubro Ltd | 1.60% | 2.02% |
| State Bank of India | 3.53% | 1.41% |
| Tata Consultancy Services Ltd | 1.45% | 1.33% |
| Titan Co Ltd | 1.13% | 1.30% |
| Tata Steel Ltd | 2.28% | 1.10% |
| Bajaj Finance Ltd | 1.02% | 1.91% |
| Ultratech Cement Ltd | 1.33% | 0.90% |
| HCL Technologies Ltd | 1.02% | 0.87% |
| TVS Motor Co Ltd | 0.89% | 0.78% |
| Asian Paints Ltd | 0.69% | 0.74% |
| Tata Motors Ltd | 0.81% | 0.62% |
| JSW Steel Ltd | 0.82% | 0.61% |
| Nestle India Ltd | 1.65% | 0.60% |
| Hindalco Industries Ltd | 0.55% | 0.97% |
| Coal India Ltd | 1.05% | 0.52% |
| Axis Bank Ltd | 0.52% | 2.25% |
| Hero MotoCorp Ltd | 1.18% | 0.50% |
| Oil & Natural Gas Corporation Ltd | 1.92% | 0.46% |
| Bajaj Finserv Ltd | 0.46% | 0.53% |
| Samvardhana Motherson International Ltd | 0.46% | 0.55% |
| Apollo Hospitals Enterprise Ltd | 0.44% | 0.66% |
| Ge Vernova T&D India Ltd | 0.57% | 0.43% |
| Bharat Heavy Electricals Ltd | 1.03% | 0.40% |
| Dixon Technologies (India) Ltd | 0.75% | 0.38% |
| Lupin Ltd | 1.60% | 0.37% |
| Lenskart Solutions Ltd | 0.68% | 0.36% |
| Aurobindo Pharma Ltd | 1.24% | 0.35% |
| HDFC Asset Management Co Ltd | 0.74% | 0.35% |
| Sun Pharmaceutical Industries Ltd | 0.35% | 1.30% |
| ITC Ltd | 0.34% | 0.63% |
| Polycab India Ltd | 1.44% | 0.34% |
| Power Finance Corporation Ltd | 1.05% | 0.34% |
| Solar Industries India Ltd | 0.33% | 0.36% |
| GAIL (India) Ltd | 0.30% | 0.31% |
| Indian Oil Corporation Ltd | 1.56% | 0.30% |
| Hitachi Energy India Ltd | 0.67% | 0.30% |
| Marico Ltd | 0.27% | 0.33% |
| REC Ltd | 0.26% | 0.28% |
| Adani Ports and Special Economic Zone Ltd | 0.26% | 0.83% |
| Yes Bank Ltd | 1.20% | 0.25% |
| Bajaj Holdings & Investment Ltd | 0.31% | 0.23% |
| IDFC First Bank Ltd | 0.22% | 0.27% |
| Adani Energy Solutions Ltd | 1.12% | 0.22% |
| Multi Commodity Exchange Of India Ltd | 0.21% | 0.33% |
| Punjab National Bank | 0.98% | 0.21% |
| Siemens Energy India ltd | 0.38% | 0.21% |
| Billionbrains Garage Ventures Ltd | 0.31% | 0.21% |
| Oracle Financial Services Software Ltd | 0.66% | 0.18% |
| Federal Bank Ltd | 0.17% | 0.46% |
| NTPC Ltd | 0.14% | 1.12% |
| Shriram Finance Ltd | 0.13% | 1.11% |
| BSE Ltd | 0.13% | 0.49% |
| L&T Finance Ltd | 0.12% | 0.17% |
| Bharat Petroleum Corporation Ltd | 0.10% | 0.39% |
| Kotak Mahindra Bank Ltd | 0.07% | 1.82% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 47.8% means 47.8% 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 JioBlackRock Flexi Cap Fund
| Security | % of fund |
|---|---|
| Life Insurance Corporation Of India | 1.76% |
| Steel Authority of India Ltd | 1.57% |
| Radico Khaitan Ltd | 1.55% |
| Navin Fluorine International Ltd | 1.51% |
| Apollo Tyres Ltd | 1.47% |
Largest holdings only in Kotak MSCI India ETF
| Security | % of fund |
|---|---|
| ETERNAL LIMITED | 1.22% |
| Maruti Suzuki India Limited | 1.13% |
| Bharat Electronics Ltd. | 1.08% |
| Hindustan Unilever Ltd. | 1.06% |
| Divis Laboratories Ltd. | 0.89% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | JioBlackRock Flexi Cap | Kotak MSCI India ETF |
|---|---|---|
| Equity | 99.0% | 100.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 1.0% | 0.0% |
Market cap of stocks
| Market cap | JioBlackRock Flexi Cap | Kotak MSCI India ETF |
|---|---|---|
| Large Cap | 60.6% | 80.6% |
| Mid Cap | 18.9% | 19.4% |
| Small Cap | 19.3% | 0.0% |
| Not on AMFI's list | 0.2% | 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 | JioBlackRock Flexi Cap | Kotak MSCI India ETF |
|---|---|---|
| Banks | 19.8% | 20.3% |
| IT - Software | 5.3% | 6.6% |
| Petroleum Products | 5.4% | 6.4% |
| Finance | 4.7% | 6.3% |
| Automobiles | 5.5% | 6.2% |
| Pharmaceuticals and Biotechnology | 0.0% | 5.6% |
| Pharmaceuticals & Biotechnology | 5.5% | 0.0% |
| Ferrous Metals | 4.7% | 2.2% |
The six largest sectors of each fund's stocks, % of the fund.
JioBlackRock Flexi Cap vs Kotak MSCI India ETF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | JioBlackRock Flexi Cap Fund | Kotak MSCI India ETF |
|---|---|---|
| Total expense ratio (Direct) | 1.11% | Not available |
| Base expense ratio (Direct) | 0.50% | 0.00% |
| Total expense ratio (Regular) | 2.34% | Not available |
| Base expense ratio (Regular) | 1.50% | 0.17% |
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
JioBlackRock Flexi Cap Fund vs Kotak MSCI India ETF: Frequently Asked Questions
What is the difference between JioBlackRock Flexi Cap Fund and Kotak MSCI India ETF?
JioBlackRock Flexi Cap Fund is a Flexi Cap fund, Kotak MSCI India ETF is an ETF fund, run by Jio BlackRock Mutual Fund and Kotak Mahindra Mutual Fund. Their portfolios overlap 47.8%. JioBlackRock Flexi Cap Fund charges 1.11% a year and Kotak MSCI India ETF 0.24%.
Which has given higher returns, JioBlackRock Flexi Cap Fund or Kotak MSCI India ETF?
Over 1 year: JioBlackRock Flexi Cap Fund −8.49%, Kotak MSCI India ETF −8.03%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, JioBlackRock Flexi Cap Fund or Kotak MSCI India ETF?
Kotak MSCI India ETF charges less: 0.24% a year against 1.11%. These are the total expense ratios reported to AMFI.
How much do JioBlackRock Flexi Cap Fund and Kotak MSCI India ETF overlap?
47.8%. They hold 61 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, BHARTIARTL. From each fund's latest monthly portfolio.
Which is riskier, JioBlackRock Flexi Cap Fund or Kotak MSCI India ETF?
On SEBI's riskometer, JioBlackRock Flexi Cap Fund is rated Very High and Kotak MSCI India ETF Very High. Over 1 years, the standard deviation of daily returns was 14.47% and 14.22% a year.
Can I invest in both JioBlackRock Flexi Cap Fund and Kotak MSCI India ETF?
Yes. 47.8% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages JioBlackRock Flexi Cap Fund and Kotak MSCI India ETF?
JioBlackRock Flexi Cap Fund: Sahil Chaudhary, Tanvi Kacheria. Kotak MSCI India 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.