Kotak Conservative Hybrid Fund vs SBI Conservative Hybrid Fund
Direct Plan, Growth option · Data as on 30-10-2026
Kotak Conservative Hybrid Fund and SBI Conservative Hybrid Fund are both Conservative Hybrid funds. In the 3 years to 30-10-2026, Kotak Conservative Hybrid Fund (Direct) returned 8.3% a year and SBI Conservative Hybrid Fund (Direct) returned 8.0% a year. Kotak Conservative Hybrid Fund charges 0.60% a year and SBI Conservative Hybrid Fund 0.98% (Direct plans). Their portfolios overlap 12.1%: they hold 10 of the same securities.
Kotak Conservative Hybrid Fund
Conservative Hybrid
- 3 year return
- 8.3%
- Expense ratio
- 0.60%
- NAV
- ₹68.74
SBI Conservative Hybrid Fund
Conservative Hybrid
- 3 year return
- 8.0%
- Expense ratio
- 0.98%
- NAV
- ₹82.84
Which is better, Kotak Conservative Hybrid or SBI Conservative Hybrid? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- SBI Conservative Hybrid returned more over 5 years: 7.9% a year against 7.9%.
- Kotak Conservative Hybrid returned more over 3 years: 8.3% a year against 8.0%.
- Kotak Conservative Hybrid costs less: 0.60% a year against 0.98% (Direct plans).
- SBI Conservative Hybrid swung less over 3 years: a standard deviation of 3.6% a year against 4.4%.
- Kotak Conservative Hybrid fell less in its worst fall since 30-01-2013: −11.8% against −11.9%.
- SBI Conservative Hybrid is the larger fund: ₹10,107 Cr against ₹2,733 Cr.
- Their portfolios overlap 12.1%: 10 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 | Kotak Conservative Hybrid Fund | SBI Conservative Hybrid Fund |
|---|---|---|
| Fund house | Kotak Mahindra Mutual Fund | SBI Mutual Fund |
| Category | Conservative Hybrid | Conservative Hybrid |
| AUM | ₹2,733 Cr (30-09-2026) | ₹10,107 Cr (30-09-2026) |
| NAV | ₹68.74 (Direct) | ₹82.84 (Direct) |
| Expense ratio (Direct) | 0.60% | 0.98% |
| Expense ratio (Regular) | 1.77% | 1.49% |
| Riskometer | High | High |
| Benchmark | CRISIL Hybrid 85+15 - Conservative Index | Nifty 50 Hybrid Composite Debt 15:85 Conservative Index |
| Launch date | 02-12-2003 | 09-04-2001 |
| Minimum investment | ₹100 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Shibani Sircar Kurian, Abhishek Bisen | Mansi Sajeja, Saurabh Pant, Milind Agrawal |
| Exit load | Exit load for units in excess of 8% of the investment,1% will be charged for redemption within 6 months. | For units in excess of 10% of the investment, 1% will be charged for redemption within 1 year |
Kotak Conservative Hybrid vs SBI Conservative Hybrid: 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 |
|---|---|---|---|---|---|---|---|
| Kotak Conservative Hybrid Fund (Direct) | −0.55% | −1.88% | +0.75% | +0.20% | +8.35% | +7.87% | +9.22% |
| SBI Conservative Hybrid Fund (Direct) | −0.91% | −1.25% | +1.10% | +2.04% | +8.01% | +7.93% | +8.59% |
| Conservative Hybrid average | −0.46% | −1.48% | +0.87% | +1.02% | +7.61% | +7.13% | +7.52% |
Category average: the average of the 18 Conservative Hybrid funds, same plan type.
Kotak Conservative Hybrid vs SBI Conservative Hybrid: Year-wise Returns
| Year | KotakKotak Conservative Hybrid | SBISBI Conservative Hybrid |
|---|---|---|
| 2026to date | −0.70% | +1.78% |
| 2025 | +6.52% | +7.21% |
| 2024 | +12.80% | +11.57% |
| 2023 | +15.40% | +12.76% |
| 2022 | +5.71% | +5.09% |
| 2021 | +14.79% | +14.72% |
Kotak Conservative Hybrid vs SBI Conservative Hybrid: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 2,600 of them, one for each trading day from 01-02-2016 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.
Kotak Conservative Hybrid Fund (Direct)
SBI Conservative Hybrid Fund (Direct)
to
Dec 2016Oct 2015
to
Oct 2018Aug 2017
to
Aug 2020Jun 2019
to
Jun 2022Apr 2021
to
Apr 2024Dec 2022
to
Dec 2025
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Kotak Conservative Hybrid | 0.0 | 0.3 | 32.4 | 64.2 | 3.1 | 0.0 | 0.0 | 11.1% | 11.4% | 3.7% | 16.2% |
| SBI Conservative Hybrid | 0.0 | 4.9 | 34.7 | 60.2 | 0.2 | 0.0 | 0.0 | 10.2% | 10.6% | 2.0% | 15.5% |
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. Every fund is measured over the days all of them have, from 30-01-2013. Past returns do not promise future returns.
Kotak Conservative Hybrid vs SBI Conservative Hybrid: 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 30-01-2013 to 30-10-2026: 166 instalments, ₹16,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Kotak Conservative HybridKotak Conservative Hybrid Fund (Direct) | ₹16,60,000 | ₹33,93,828 | ₹17,33,828 | 9.8% |
| SBI Conservative HybridSBI Conservative Hybrid Fund (Direct) | ₹16,60,000 | ₹32,50,420 | ₹15,90,420 | 9.2% |
Kotak Conservative HybridKotak Conservative Hybrid Fund (Direct)
SBI Conservative HybridSBI Conservative Hybrid 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.
Kotak Conservative Hybrid vs SBI Conservative Hybrid: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Kotak Conservative Hybrid Fund (Direct) | SBI Conservative Hybrid Fund (Direct) |
|---|---|---|
| Return (CAGR) | +0.20% | +2.04% |
| Standard deviation | 4.19% | 4.04% |
| Sharpe ratio | -1.20 | -0.79 |
| Sortino ratio | -1.57 | -1.08 |
| Maximum drawdown | −4.0% (30-03-2026) | −3.0% (30-03-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 | Kotak Conservative Hybrid Fund (Direct) | SBI Conservative Hybrid Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.35% | +8.01% |
| Standard deviation | 4.40% | 3.63% |
| Sharpe ratio | 0.53 | 0.55 |
| Sortino ratio | 0.72 | 0.75 |
| Maximum drawdown | −4.0% (30-03-2026) | −3.0% (30-03-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 | Kotak Conservative Hybrid Fund (Direct) | SBI Conservative Hybrid Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.87% | +7.93% |
| Standard deviation | 4.23% | 3.55% |
| Sharpe ratio | 0.49 | 0.60 |
| Sortino ratio | 0.67 | 0.81 |
| Maximum drawdown | −4.4% (17-06-2022) | −3.6% (07-03-2022) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 29-10-2021 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 | Kotak Conservative Hybrid Fund (Direct) | SBI Conservative Hybrid Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.08% | +9.43% |
| Standard deviation | 4.74% | 4.19% |
| Sharpe ratio | 0.85 | 0.81 |
| Sortino ratio | 1.16 | 1.10 |
| Maximum drawdown | −11.8% (23-03-2020) | −11.9% (23-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 30-01-2013 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.
Kotak Conservative Hybrid Fund (Direct)
SBI Conservative Hybrid Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Kotak Conservative Hybrid Fund (Direct) | −11.8% | 20-02-2020 | 23-03-2020 | 03-07-2020 | 3 months | −2.6% |
| SBI Conservative Hybrid Fund (Direct) | −11.9% | 20-02-2020 | 23-03-2020 | 20-07-2020 | 4 months | −2.2% |
From daily values since 30-01-2013, 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.
Kotak Conservative Hybrid Fund (Direct)
SBI Conservative Hybrid Fund (Direct)
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.
Kotak Conservative Hybrid Fund (Direct)
SBI Conservative Hybrid Fund (Direct)
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 5-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Kotak Conservative Hybrid Fund (Direct)
SBI Conservative Hybrid Fund (Direct)
Kotak Conservative Hybrid vs SBI Conservative Hybrid: Portfolio Overlap
From each fund's latest monthly portfolio: Kotak Conservative Hybrid Fund, September 2026; SBI Conservative Hybrid Fund, September 2026
Holdings in common
- Overlap
- 12.1%
- Held by both
- 10
- Only in Kotak Conservative Hybrid
- 105
- Only in SBI Conservative Hybrid
- 98
| Security | % of Kotak Conservative Hybrid | % of SBI Conservative Hybrid |
|---|---|---|
| JTPM METAL TRADERS PVT LTD ( CATALYST TRUSTEESHIP LIMITE) | 3.95% | 2.94% |
| LIC HOUSING FINANCE LTD. | 2.72% | 2.21% |
| ICICI BANK LTD. | 1.45% | 1.20% |
| PTC SIDDHIVINAYAK SECURITISATION TRUST 28/09/2030(SIDDHIVINAYAK TRUST) | 2.62% | 1.18% |
| PTC SHIVSHAKTI SECURITISATION TRUST 28/09/2029(SHIVSHAKTI TRUST) | 2.62% | 1.18% |
| RELIANCE INDUSTRIES LTD. | 0.85% | 1.08% |
| HDFC BANK LTD. | 1.21% | 0.77% |
| NATIONAL BANK FOR AGRICULTURE & RURAL DEVELOPMENT | 3.62% | 0.73% |
| AXIS BANK LTD. | 0.69% | 1.23% |
| SBI ALTERNATIVE INVESTMENT FUND | 0.34% | 0.30% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 12.1% means 12.1% 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 Kotak Conservative Hybrid Fund
| Security | % of fund |
|---|---|
| Central Government - 2055 | 7.12% |
| Central Government - 2065 | 6.80% |
| Power Finance Corporation Ltd. | 3.62% |
| National Housing Bank | 2.10% |
| 360 ONE PRIME LTD. | 1.84% |
Largest holdings only in SBI Conservative Hybrid Fund
| Security | % of fund |
|---|---|
| National Bank for Agriculture and Rural Development | 3.15% |
| Adani Power Ltd. | 2.96% |
| REC Ltd. | 2.66% |
| Torrent Power Ltd. | 2.46% |
| Bajaj Housing Finance Ltd. | 2.43% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Kotak Conservative Hybrid | SBI Conservative Hybrid |
|---|---|---|
| Equity | 23.0% | 23.2% |
| Debt | 59.7% | 71.7% |
| Cash and others | 17.3% | 5.2% |
Market cap of stocks
| Market cap | Kotak Conservative Hybrid | SBI Conservative Hybrid |
|---|---|---|
| Large Cap | 14.8% | 8.5% |
| Mid Cap | 6.6% | 2.6% |
| Small Cap | 0.9% | 12.0% |
| Not on AMFI's list | 0.6% | 0.1% |
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 | Kotak Conservative Hybrid | SBI Conservative Hybrid |
|---|---|---|
| Banks | 6.0% | 3.2% |
| Industrial Products | 0.0% | 3.8% |
| Pharmaceuticals & Biotechnology | 0.0% | 2.9% |
| Consumer Durables | 0.6% | 2.0% |
| Automobiles | 1.9% | 0.0% |
| Telecom - Services | 1.5% | 0.0% |
| Pharmaceuticals and Biotechnology | 1.5% | 0.0% |
| Finance | 0.9% | 1.4% |
| Insurance | 0.2% | 1.4% |
| IT - Software | 1.3% | 0.0% |
| Healthcare Services | 1.2% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
Kotak Conservative Hybrid vs SBI Conservative Hybrid: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Kotak Conservative Hybrid Fund | SBI Conservative Hybrid Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.60% | 0.98% |
| Base expense ratio (Direct) | 0.49% | 0.80% |
| Total expense ratio (Regular) | 1.77% | 1.49% |
| Base expense ratio (Regular) | 1.48% | 1.23% |
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 Kotak Conservative Hybrid with
- Kotak Conservative Hybrid vs Parag Parikh Conservative Hybrid
- Kotak Conservative Hybrid vs HSBC Conservative Hybrid
- Kotak Conservative Hybrid vs ICICI Prudential Conservative Hybrid
- Kotak Conservative Hybrid vs Nippon India Conservative Hybrid
- Kotak Conservative Hybrid vs Aditya Birla Sun Life Conservative Hybrid
Compare SBI Conservative Hybrid with
- SBI Conservative Hybrid vs Parag Parikh Conservative Hybrid
- SBI Conservative Hybrid vs HSBC Conservative Hybrid
- SBI Conservative Hybrid vs ICICI Prudential Conservative Hybrid
- SBI Conservative Hybrid vs Nippon India Conservative Hybrid
- SBI Conservative Hybrid vs Aditya Birla Sun Life Conservative Hybrid
Kotak Conservative Hybrid Fund vs SBI Conservative Hybrid Fund: Frequently Asked Questions
What is the difference between Kotak Conservative Hybrid Fund and SBI Conservative Hybrid Fund?
Both are Conservative Hybrid funds, run by Kotak Mahindra Mutual Fund and SBI Mutual Fund. Their portfolios overlap 12.1%. Kotak Conservative Hybrid Fund charges 0.60% a year and SBI Conservative Hybrid Fund 0.98%.
Which has given higher returns, Kotak Conservative Hybrid Fund or SBI Conservative Hybrid Fund?
Over 1 year: Kotak Conservative Hybrid Fund +0.20%, SBI Conservative Hybrid Fund +2.04%. Over 3 years: Kotak Conservative Hybrid Fund +8.35% a year, SBI Conservative Hybrid Fund +8.01% a year. Over 5 years: Kotak Conservative Hybrid Fund +7.87% a year, SBI Conservative Hybrid Fund +7.93% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Kotak Conservative Hybrid Fund or SBI Conservative Hybrid Fund?
Kotak Conservative Hybrid Fund charges less: 0.60% a year against 0.98%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Kotak Conservative Hybrid Fund and SBI Conservative Hybrid Fund overlap?
12.1%. They hold 10 of the same securities, the largest shared ones being JTPM METAL TRADERS PVT LTD ( CATALYST TRUSTEESHIP LIMITE), LIC HOUSING FINANCE LTD., ICICIBANK. From each fund's latest monthly portfolio.
Which is riskier, Kotak Conservative Hybrid Fund or SBI Conservative Hybrid Fund?
On SEBI's riskometer, Kotak Conservative Hybrid Fund is rated High and SBI Conservative Hybrid Fund High. Over 3 years, the standard deviation of daily returns was 4.40% and 3.63% a year.
Which is better for SIP, Kotak Conservative Hybrid Fund or SBI Conservative Hybrid Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,30,782 in Kotak Conservative Hybrid Fund (XIRR 7.1% a year) and ₹7,36,737 in SBI Conservative Hybrid Fund (XIRR 7.4% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Kotak Conservative Hybrid Fund and SBI Conservative Hybrid Fund?
Yes. 12.1% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Kotak Conservative Hybrid Fund and SBI Conservative Hybrid Fund?
Kotak Conservative Hybrid Fund: Shibani Sircar Kurian, Abhishek Bisen. SBI Conservative Hybrid Fund: Mansi Sajeja, Saurabh Pant, Milind Agrawal.
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.