Kotak Contra Fund vs Kotak ELSS Tax Saver Fund
Direct Plan, Growth option · Data as on 30-10-2026
Kotak Contra Fund is a Value and Contra fund and Kotak ELSS Tax Saver Fund is an ELSS fund. In the 3 years to 30-10-2026, Kotak Contra Fund (Direct) returned 13.7% a year and Kotak ELSS Tax Saver Fund (Direct) returned 10.8% a year. Kotak Contra Fund charges 0.80% a year and Kotak ELSS Tax Saver Fund 0.85% (Direct plans). Their portfolios overlap 47.9%: they hold 27 of the same securities.
Kotak Contra Fund
Value and Contra
- 3 year return
- 13.7%
- Expense ratio
- 0.80%
- NAV
- ₹170.58
Kotak ELSS Tax Saver Fund
ELSS
- 3 year return
- 10.8%
- Expense ratio
- 0.85%
- NAV
- ₹132.52
Which is better, Kotak Contra or Kotak ELSS Tax Saver? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Kotak Contra returned more over 5 years: 12.6% a year against 10.8%.
- Kotak Contra returned more over 3 years: 13.7% a year against 10.8%.
- Kotak Contra costs less: 0.80% a year against 0.85% (Direct plans).
- Kotak ELSS Tax Saver swung less over 3 years: a standard deviation of 14.3% a year against 14.5%.
- Kotak ELSS Tax Saver fell less in its worst fall since 02-01-2013: −36.4% against −37.9%.
- Kotak ELSS Tax Saver is the larger fund: ₹6,071 Cr against ₹5,196 Cr.
- Their portfolios overlap 47.9%: 27 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 Contra Fund | Kotak ELSS Tax Saver Fund |
|---|---|---|
| Fund house | Kotak Mahindra Mutual Fund | Kotak Mahindra Mutual Fund |
| Category | Value and Contra | ELSS |
| AUM | ₹5,196 Cr (30-09-2026) | ₹6,071 Cr (30-09-2026) |
| NAV | ₹170.58 (Direct) | ₹132.52 (Direct) |
| Expense ratio (Direct) | 0.80% | 0.85% |
| Expense ratio (Regular) | 2.03% | 1.96% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | Nifty 500 TRI |
| Launch date | 27-07-2005 | 23-11-2005 |
| Minimum investment | ₹100 | ₹500 |
| Lock in | None | 3 years |
| Fund managers | Shibani Kurian | Harsha Upadhyaya |
| Exit load | Exit load of 1% if redeemed within 90 days. | Nil |
Kotak Contra vs Kotak ELSS Tax Saver: 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 Contra Fund (Direct) | −2.39% | −7.04% | −3.27% | −7.37% | +13.69% | +12.60% | +15.65% |
| Kotak ELSS Tax Saver Fund (Direct) | −1.48% | −4.54% | −0.03% | −4.31% | +10.76% | +10.84% | +13.65% |
| Value and Contra average | −2.09% | −5.76% | −3.23% | −5.72% | +11.83% | +11.08% | +12.63% |
| ELSS average | −2.34% | −5.61% | −1.63% | −5.75% | +10.92% | +10.29% | +13.05% |
Category average: the average of the 30 Value and Contra funds and the 50 ELSS funds, same plan type.
Kotak Contra vs Kotak ELSS Tax Saver: Year-wise Returns
| Year | ContraKotak Contra | ELSS Tax SaverKotak ELSS Tax Saver | Nifty 500 TRI |
|---|---|---|---|
| 2026to date | −8.36% | −4.13% | −7.51% |
| 2025 | +8.82% | +2.92% | +7.76% |
| 2024 | +23.74% | +23.31% | +16.24% |
| 2023 | +36.86% | +25.20% | +26.91% |
| 2022 | +8.88% | +8.37% | +4.25% |
| 2021 | +31.94% | +35.05% | +31.60% |
Kotak Contra vs Kotak ELSS Tax Saver: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of both
Rolling returns
Every 3-year holding period, 2,666 of them, one for each trading day from 04-01-2016 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 Contra Fund (Direct)
Kotak ELSS Tax Saver Fund (Direct)
Nifty 500 TRI
to
Nov 2016Sept 2015
to
Sept 2018Jul 2017
to
Jul 2020May 2019
to
May 2022Mar 2021
to
Mar 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 | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Kotak Contra | 0.2 | 2.3 | 4.8 | 24.8 | 34.8 | 21.3 | 11.7 | 17.6% | 17.4% | −2.9% | 35.9% | 94% |
| Kotak ELSS Tax Saver | 1.4 | 3.6 | 7.4 | 23.7 | 29.1 | 24.8 | 9.9 | 17.0% | 17.1% | −4.2% | 34.8% | 90% |
| Nifty 500 TRI | 1.9 | 4.3 | 7.8 | 37.0 | 34.8 | 11.3 | 2.9 | 14.7% | 14.9% | −6.3% | 33.5% | -- |
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. The benchmark is Nifty 500 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 02-01-2013. Past returns do not promise future returns.
Kotak Contra vs Kotak ELSS Tax Saver: 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 02-01-2013 to 30-10-2026: 166 instalments, ₹16,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Kotak ContraKotak Contra Fund (Direct) | ₹16,60,000 | ₹52,78,244 | ₹36,18,244 | 15.4% |
| Kotak ELSS Tax SaverKotak ELSS Tax Saver Fund (Direct) | ₹16,60,000 | ₹49,09,343 | ₹32,49,343 | 14.5% |
Kotak ContraKotak Contra Fund (Direct)
Kotak ELSS Tax SaverKotak ELSS Tax Saver 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 Contra vs Kotak ELSS Tax Saver: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Kotak Contra Fund (Direct) | Kotak ELSS Tax Saver Fund (Direct) |
|---|---|---|
| Return (CAGR) | −7.37% | −4.31% |
| Standard deviation | 14.55% | 14.54% |
| Sharpe ratio | -0.87 | -0.66 |
| Sortino ratio | -1.14 | -0.87 |
| Maximum drawdown | −13.7% (31-03-2026) | −13.7% (31-03-2026) |
| Beta | 0.99 | 0.99 |
| Alpha | −0.13% | +2.93% |
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 Contra Fund (Direct) | Kotak ELSS Tax Saver Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.69% | +10.76% |
| Standard deviation | 14.47% | 14.34% |
| Sharpe ratio | 0.53 | 0.33 |
| Sortino ratio | 0.71 | 0.44 |
| Maximum drawdown | −18.9% (28-02-2025) | −19.6% (28-02-2025) |
| Beta | 0.99 | 0.98 |
| Alpha | +3.51% | +0.61% |
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 Contra Fund (Direct) | Kotak ELSS Tax Saver Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.60% | +10.84% |
| Standard deviation | 14.27% | 14.18% |
| Sharpe ratio | 0.48 | 0.36 |
| Sortino ratio | 0.64 | 0.48 |
| Maximum drawdown | −18.9% (28-02-2025) | −19.6% (28-02-2025) |
| Beta | 0.97 | 0.97 |
| Alpha | +3.87% | +2.13% |
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 Contra Fund (Direct) | Kotak ELSS Tax Saver Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.38% | +14.48% |
| Standard deviation | 15.41% | 15.28% |
| Sharpe ratio | 0.61 | 0.55 |
| Sortino ratio | 0.82 | 0.74 |
| Maximum drawdown | −37.9% (23-03-2020) | −36.4% (23-03-2020) |
| Beta | 0.95 | 0.94 |
| Alpha | +2.91% | +2.08% |
From daily NAVs, 02-01-2013 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 Contra Fund (Direct)
Kotak ELSS Tax Saver Fund (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Kotak Contra Fund (Direct) | −37.9% | 24-01-2020 | 23-03-2020 | 09-11-2020 | 8 months | −9.2% |
| Kotak ELSS Tax Saver Fund (Direct) | −36.4% | 07-02-2020 | 23-03-2020 | 11-11-2020 | 8 months | −7.7% |
| Nifty 500 TRI | −38.1% | 17-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −8.8% |
From daily values since 02-01-2013, 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 Contra Fund (Direct)
Kotak ELSS Tax Saver Fund (Direct)
Nifty 500 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.
Kotak Contra Fund (Direct)
Kotak ELSS Tax Saver Fund (Direct)
Nifty 500 TRI
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 Contra Fund (Direct)
Kotak ELSS Tax Saver Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Kotak Contra Fund (Direct) | 98% | 82% | 3.73% |
| Kotak ELSS Tax Saver Fund (Direct) | 101% | 93% | 4.21% |
From month-end values since 02-01-2013. 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.
Kotak Contra vs Kotak ELSS Tax Saver: Portfolio Overlap
From each fund's latest monthly portfolio: Kotak Contra Fund, September 2026; Kotak ELSS Tax Saver Fund, September 2026
Holdings in common
- Overlap
- 47.9%
- Held by both
- 27
- Only in Kotak Contra
- 36
- Only in Kotak ELSS Tax Saver
- 26
| Security | % of Kotak Contra | % of Kotak ELSS Tax Saver |
|---|---|---|
| HDFC BANK LTD. | 5.06% | 7.00% |
| ICICI BANK LTD. | 5.93% | 5.01% |
| STATE BANK OF INDIA. | 3.24% | 4.98% |
| Hero MotoCorp Ltd. | 2.67% | 2.59% |
| Larsen and Toubro Ltd. | 2.50% | 2.48% |
| NTPC LTD | 2.46% | 2.76% |
| BHARTI AIRTEL LTD. | 2.42% | 3.47% |
| Tech Mahindra Ltd. | 2.10% | 3.01% |
| Ultratech Cement Ltd. | 1.85% | 1.71% |
| SUN PHARMACEUTICAL INDUSTRIES LTD. | 1.70% | 2.39% |
| RELIANCE INDUSTRIES LTD. | 2.70% | 1.60% |
| BAJAJ FINANCE LTD. | 1.49% | 2.49% |
| AXIS BANK LTD. | 1.48% | 2.02% |
| PIRAMAL FINANCE LTD | 1.44% | 1.60% |
| Jindal Steel & Power Ltd | 1.38% | 1.87% |
| INDUSIND BANK LTD. | 1.43% | 1.34% |
| Inter Globe Aviation Ltd | 1.32% | 1.85% |
| PARK MEDI WORLD LIMITED (PARK HOSPITAL) | 1.77% | 1.19% |
| KALPATARU PROJECTS INTERNATIONAL LIMITED | 1.19% | 1.99% |
| POONAWALLA FINCORP LIMITED | 2.09% | 1.10% |
| SWIGGY LTD | 2.26% | 1.03% |
| PINE LABS LTD. | 0.97% | 1.56% |
| VIYASH SCIENTIFIC LTD | 0.90% | 1.37% |
| Indus Towers Ltd. | 1.70% | 0.86% |
| SRF LTD. | 1.30% | 0.81% |
| AXISCADES TECHNOLOGIES LTD | 0.68% | 1.25% |
| NATIONAL STOCK EXCHANGE OF INDIA LIMITED (NSE) | 0.38% | 0.36% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 47.9% means 47.9% 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 Contra Fund
| Security | % of fund |
|---|---|
| SHRIRAM FINANCE LIMITED | 2.53% |
| Mphasis Ltd | 2.00% |
| Fortis Healthcare India Ltd | 1.98% |
| Maruti Suzuki India Limited | 1.96% |
| INDO-MIM LTD | 1.93% |
Largest holdings only in Kotak ELSS Tax Saver Fund
| Security | % of fund |
|---|---|
| ETERNAL LIMITED | 3.16% |
| Divis Laboratories Ltd. | 2.68% |
| Dixon Technologies India Ltd | 2.59% |
| LENSKART SOLUTIONS LIMITED | 2.26% |
| HINDUSTAN PETROLEUM CORPORATION LTD. | 2.16% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Kotak Contra | Kotak ELSS Tax Saver |
|---|---|---|
| Equity | 98.9% | 98.5% |
| Debt | 0.0% | 0.0% |
| Cash and others | 1.1% | 1.5% |
Market cap of stocks
| Market cap | Kotak Contra | Kotak ELSS Tax Saver |
|---|---|---|
| Large Cap | 51.2% | 60.6% |
| Mid Cap | 28.8% | 21.5% |
| Small Cap | 14.0% | 15.5% |
| Not on AMFI's list | 4.9% | 0.9% |
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 Contra | Kotak ELSS Tax Saver |
|---|---|---|
| Banks | 22.3% | 23.0% |
| Finance | 8.2% | 6.4% |
| Pharmaceuticals and Biotechnology | 5.5% | 7.5% |
| Retailing | 2.9% | 6.5% |
| Construction | 3.7% | 6.1% |
| Automobiles | 4.6% | 6.0% |
| IT - Software | 5.9% | 3.0% |
| Healthcare Services | 5.4% | 1.2% |
The six largest sectors of each fund's stocks, % of the fund.
Kotak Contra vs Kotak ELSS Tax Saver: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Kotak Contra Fund | Kotak ELSS Tax Saver Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.80% | 0.85% |
| Base expense ratio (Direct) | 0.55% | 0.63% |
| Total expense ratio (Regular) | 2.03% | 1.96% |
| Base expense ratio (Regular) | 1.60% | 1.57% |
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 Contra with
Kotak Contra Fund vs Kotak ELSS Tax Saver Fund: Frequently Asked Questions
What is the difference between Kotak Contra Fund and Kotak ELSS Tax Saver Fund?
Kotak Contra Fund is a Value and Contra fund, Kotak ELSS Tax Saver Fund is an ELSS fund, run by Kotak Mahindra Mutual Fund. Their portfolios overlap 47.9%. Kotak Contra Fund charges 0.80% a year and Kotak ELSS Tax Saver Fund 0.85%.
Which has given higher returns, Kotak Contra Fund or Kotak ELSS Tax Saver Fund?
Over 1 year: Kotak Contra Fund −7.37%, Kotak ELSS Tax Saver Fund −4.31%. Over 3 years: Kotak Contra Fund +13.69% a year, Kotak ELSS Tax Saver Fund +10.76% a year. Over 5 years: Kotak Contra Fund +12.60% a year, Kotak ELSS Tax Saver Fund +10.84% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Kotak Contra Fund or Kotak ELSS Tax Saver Fund?
Kotak Contra Fund charges less: 0.80% a year against 0.85%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Kotak Contra Fund and Kotak ELSS Tax Saver Fund overlap?
47.9%. They hold 27 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, SBIN. From each fund's latest monthly portfolio.
Which is riskier, Kotak Contra Fund or Kotak ELSS Tax Saver Fund?
On SEBI's riskometer, Kotak Contra Fund is rated Very High and Kotak ELSS Tax Saver Fund Very High. Over 3 years, the standard deviation of daily returns was 14.47% and 14.34% a year.
Which is better for SIP, Kotak Contra Fund or Kotak ELSS Tax Saver Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹8,03,683 in Kotak Contra Fund (XIRR 10.8% a year) and ₹7,64,967 in Kotak ELSS Tax Saver Fund (XIRR 8.9% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Kotak Contra Fund and Kotak ELSS Tax Saver Fund?
Yes. 47.9% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Kotak Contra Fund and Kotak ELSS Tax Saver Fund?
Kotak Contra Fund: Shibani Kurian. Kotak ELSS Tax Saver Fund: Harsha Upadhyaya.
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.