Kotak Contra Fund vs LIC MF Focused Fund
Direct Plan, Growth option · Data as on 30-10-2026
Kotak Contra Fund is a Value and Contra fund and LIC MF Focused Fund is a Focused fund. In the 3 years to 30-10-2026, Kotak Contra Fund (Direct) returned 13.7% a year and LIC MF Focused Fund (Direct) returned 8.5% a year. Kotak Contra Fund charges 0.80% a year and LIC MF Focused Fund 2.35% (Direct plans). Their portfolios overlap 23.2%: they hold 11 of the same securities.
Kotak Contra Fund
Value and Contra
- 3 year return
- 13.7%
- Expense ratio
- 0.80%
- NAV
- ₹170.58
Which is better, Kotak Contra or LIC MF Focused? 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 3 years: 13.7% a year against 8.5%.
- LIC MF Focused returned more over 1 year: −5.1% against −7.4%.
- Kotak Contra costs less: 0.80% a year against 2.35% (Direct plans).
- Kotak Contra swung less over 3 years: a standard deviation of 14.5% a year against 15.4%.
- Kotak Contra fell less in its worst fall since 31-07-2023: −18.9% against −21.1%.
- Kotak Contra holds more in large companies: 51.2% of the fund in large caps against 40.6%.
- Kotak Contra is the larger fund: ₹5,196 Cr against ₹171 Cr.
- Their portfolios overlap 23.2%: 11 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 | LIC MF Focused Fund |
|---|---|---|
| Fund house | Kotak Mahindra Mutual Fund | LIC Mutual Fund |
| Category | Value and Contra | Focused |
| AUM | ₹5,196 Cr (30-09-2026) | ₹171 Cr (30-09-2026) |
| NAV | ₹170.58 (Direct) | ₹22.89 (Direct) |
| Expense ratio (Direct) | 0.80% | 2.35% |
| Expense ratio (Regular) | 2.03% | 3.49% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | Nifty 500 TRI |
| Launch date | 27-07-2005 | 17-11-2017 |
| Minimum investment | ₹100 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Shibani Kurian | Mahesh Bendre |
| Exit load | Exit load of 1% if redeemed within 90 days. | Nil, If units of the Scheme are redeemed or switched out up to 12% of the units (the limit) within 12 months from the date of allotment. 1% of the applicable NAV, If units of the scheme are redeemed or switched out in excess of the limit within 12 months from the date of allotment. Nil, If units of scheme are redeemed or switched out after 12 months from the date of allotment. |
Kotak Contra vs LIC MF Focused: 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% |
| LIC MF Focused Fund (Direct) | −4.78% | −4.77% | +4.19% | −5.12% | +8.47% | -- | -- |
| Value and Contra average | −2.09% | −5.76% | −3.23% | −5.72% | +11.83% | +11.08% | +12.63% |
| Focused average | −1.00% | −4.12% | +1.39% | −3.09% | +12.30% | -- | -- |
Category average: the average of the 30 Value and Contra funds and the 28 Focused funds, same plan type.
Kotak Contra vs LIC MF Focused: Year-wise Returns
| Year | Kotak ContraKotak Contra | LIC MF FocusedLIC MF Focused | Nifty 500 TRI |
|---|---|---|---|
| 2026to date | −8.36% | −3.87% | −7.51% |
| 2025 | +8.82% | +5.46% | +7.76% |
| 2024 | +23.74% | +13.44% | +16.24% |
| 2023 | +36.86% | -- | +26.91% |
| 2022 | +8.88% | -- | +4.25% |
| 2021 | +31.94% | -- | +31.60% |
Kotak Contra vs LIC MF Focused: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of both
Rolling returns
Every 3-year holding period, 61 of them, one for each trading day from 31-07-2026 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.
Kotak Contra Fund (Direct)
LIC MF Focused Fund (Direct)
Nifty 500 TRI
to
Aug 2026Aug 2023
to
Aug 2026Sept 2023
to
Sept 2026Sept 2023
to
Sept 2026Oct 2023
to
Oct 2026Oct 2023
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Kotak Contra | 0.0 | 0.0 | 0.0 | 45.9 | 54.1 | 0.0 | 0.0 | 15.6% | 15.1% | 12.9% | 18.2% | 100% |
| LIC MF Focused | 0.0 | 0.0 | 60.7 | 39.3 | 0.0 | 0.0 | 0.0 | 9.7% | 9.6% | 7.7% | 11.7% | 0% |
| Nifty 500 TRI | 0.0 | 0.0 | 31.1 | 68.9 | 0.0 | 0.0 | 0.0 | 11.1% | 10.8% | 8.8% | 13.5% | -- |
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 31-07-2023. Past returns do not promise future returns.
Kotak Contra vs LIC MF Focused: 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 03-07-2023 to 30-10-2026: 40 instalments, ₹4,00,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Kotak ContraKotak Contra Fund (Direct) | ₹4,00,000 | ₹4,28,741 | ₹28,741 | 4.1% |
| LIC MF FocusedLIC MF Focused Fund (Direct) | ₹4,00,000 | ₹4,20,264 | ₹20,264 | 2.9% |
Kotak ContraKotak Contra Fund (Direct)
LIC MF FocusedLIC MF Focused 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 LIC MF Focused: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Kotak Contra Fund (Direct) | LIC MF Focused Fund (Direct) |
|---|---|---|
| Return (CAGR) | −7.37% | −5.12% |
| Standard deviation | 14.55% | 15.40% |
| Sharpe ratio | -0.87 | -0.67 |
| Sortino ratio | -1.14 | -0.90 |
| Maximum drawdown | −13.7% (31-03-2026) | −15.9% (31-03-2026) |
| Beta | 0.99 | 0.98 |
| Alpha | −0.13% | +1.91% |
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) | LIC MF Focused Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.69% | +8.47% |
| Standard deviation | 14.47% | 15.45% |
| Sharpe ratio | 0.53 | 0.16 |
| Sortino ratio | 0.71 | 0.22 |
| Maximum drawdown | −18.9% (28-02-2025) | −21.1% (03-03-2025) |
| Beta | 0.99 | 0.97 |
| Alpha | +3.51% | −1.60% |
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) | LIC MF Focused Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.38% | +7.24% |
| Standard deviation | 15.41% | 15.05% |
| Sharpe ratio | 0.61 | 0.08 |
| Sortino ratio | 0.82 | 0.10 |
| Maximum drawdown | −37.9% (23-03-2020) | −21.1% (03-03-2025) |
| Beta | 0.95 | 0.96 |
| Alpha | +2.91% | −1.68% |
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)
LIC MF Focused 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) | −18.9% | 26-09-2024 | 28-02-2025 | 26-11-2025 | 9 months | −9.2% |
| LIC MF Focused Fund (Direct) | −21.1% | 23-09-2024 | 03-03-2025 | Not yet | -- | −9.9% |
| Nifty 500 TRI | −18.6% | 26-09-2024 | 28-02-2025 | Not yet | -- | −8.8% |
From daily values since 31-07-2023, 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)
LIC MF Focused 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)
LIC MF Focused Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Kotak Contra Fund (Direct) | 113% | 98% | 3.21% |
| LIC MF Focused Fund (Direct) | 91% | 97% | 6.52% |
From month-end values since 31-07-2023. 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 LIC MF Focused: Portfolio Overlap
From each fund's latest monthly portfolio: Kotak Contra Fund, September 2026; LIC MF Focused Fund, September 2026
Holdings in common
- Overlap
- 23.2%
- Held by both
- 11
- Only in Kotak Contra
- 52
- Only in LIC MF Focused
- 17
| Security | % of Kotak Contra | % of LIC MF Focused |
|---|---|---|
| HDFC BANK LTD. | 5.06% | 3.60% |
| ICICI BANK LTD. | 5.93% | 3.55% |
| STATE BANK OF INDIA. | 3.24% | 3.62% |
| NTPC LTD | 2.46% | 3.39% |
| INDO-MIM LTD | 1.93% | 7.55% |
| SUN PHARMACEUTICAL INDUSTRIES LTD. | 1.70% | 2.60% |
| Infosys Ltd. | 1.83% | 1.52% |
| AXIS BANK LTD. | 1.48% | 2.54% |
| Schaeffler India Ltd | 1.42% | 3.25% |
| Inter Globe Aviation Ltd | 1.32% | 3.71% |
| TENNECO CLEAN AIR INDIA LIMITED | 0.98% | 2.52% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 23.2% means 23.2% 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 |
|---|---|
| RELIANCE INDUSTRIES LTD. | 2.70% |
| Hero MotoCorp Ltd. | 2.67% |
| SHRIRAM FINANCE LIMITED | 2.53% |
| Larsen and Toubro Ltd. | 2.50% |
| BHARTI AIRTEL LTD. | 2.42% |
Largest holdings only in LIC MF Focused Fund
| Security | % of fund |
|---|---|
| Tata Motors Passenger Vehicles Ltd. | 6.81% |
| Garware Hi-Tech Films Ltd. | 4.11% |
| Tata Motors Ltd. | 3.90% |
| Bharat Forge Ltd. | 3.66% |
| The Phoenix Mills Ltd. | 3.56% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Kotak Contra | LIC MF Focused |
|---|---|---|
| Equity | 98.9% | 91.4% |
| Debt | 0.0% | 0.0% |
| Cash and others | 1.1% | 8.6% |
Market cap of stocks
| Market cap | Kotak Contra | LIC MF Focused |
|---|---|---|
| Large Cap | 51.2% | 40.6% |
| Mid Cap | 28.8% | 16.5% |
| Small Cap | 14.0% | 26.7% |
| Not on AMFI's list | 4.9% | 7.5% |
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 | LIC MF Focused |
|---|---|---|
| Banks | 22.3% | 13.3% |
| Auto Components | 3.5% | 14.9% |
| Automobiles | 4.6% | 9.0% |
| Finance | 8.2% | 2.7% |
| Industrial Manufacturing | 1.9% | 7.5% |
| Industrial Products | 1.5% | 7.5% |
| Power | 2.5% | 6.6% |
| IT - Software | 5.9% | 4.9% |
| Pharmaceuticals and Biotechnology | 5.5% | 0.0% |
| Healthcare Services | 5.4% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
Kotak Contra vs LIC MF Focused: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Kotak Contra Fund | LIC MF Focused Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.80% | 2.35% |
| Base expense ratio (Direct) | 0.55% | 1.12% |
| Total expense ratio (Regular) | 2.03% | 3.49% |
| Base expense ratio (Regular) | 1.60% | 2.10% |
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 LIC MF Focused Fund: Frequently Asked Questions
What is the difference between Kotak Contra Fund and LIC MF Focused Fund?
Kotak Contra Fund is a Value and Contra fund, LIC MF Focused Fund is a Focused fund, run by Kotak Mahindra Mutual Fund and LIC Mutual Fund. Their portfolios overlap 23.2%. Kotak Contra Fund charges 0.80% a year and LIC MF Focused Fund 2.35%.
Which has given higher returns, Kotak Contra Fund or LIC MF Focused Fund?
Over 1 year: Kotak Contra Fund −7.37%, LIC MF Focused Fund −5.12%. Over 3 years: Kotak Contra Fund +13.69% a year, LIC MF Focused Fund +8.47% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Kotak Contra Fund or LIC MF Focused Fund?
Kotak Contra Fund charges less: 0.80% a year against 2.35%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Kotak Contra Fund and LIC MF Focused Fund overlap?
23.2%. They hold 11 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 LIC MF Focused Fund?
On SEBI's riskometer, Kotak Contra Fund is rated Very High and LIC MF Focused Fund Very High. Over 3 years, the standard deviation of daily returns was 14.47% and 15.45% a year.
Which is better for SIP, Kotak Contra Fund or LIC MF Focused Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹3,83,935 in Kotak Contra Fund (XIRR 2.4% a year) and ₹3,82,720 in LIC MF Focused Fund (XIRR 2.2% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both Kotak Contra Fund and LIC MF Focused Fund?
Yes. 23.2% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Kotak Contra Fund and LIC MF Focused Fund?
Kotak Contra Fund: Shibani Kurian. LIC MF Focused Fund: Mahesh Bendre.
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.