Kotak CRISIL IBX Financial Services 3 6 Months Debt Index Fund vs Union Money Market Fund
Direct Plan, Growth option · Data as on 30-10-2026
Kotak CRISIL IBX Financial Services 3 6 Months Debt Index Fund is an Index fund and Union Money Market Fund is a Money Market fund. In the year to 30-10-2026, Kotak CRISIL IBX Financial Services 3 6 Months Debt Index Fund (Direct) returned 6.5% and Union Money Market Fund (Direct) returned 6.6%. Kotak CRISIL IBX Financial Services 3 6 Months Debt Index Fund charges 0.12% a year and Union Money Market Fund 0.17% (Direct plans). Their portfolios overlap 17.3%: they hold 4 of the same securities.
Kotak CRISIL IBX Financial Services 3 6 Months Debt Index Fund
Index
- 1 year return
- 6.5%
- Expense ratio
- 0.12%
- NAV
- ₹11.16
Union Money Market Fund
Money Market
- 1 year return
- 6.6%
- Expense ratio
- 0.17%
- NAV
- ₹1,378.40
Which is better, Kotak CRISIL IBX Financial Services 3 6 Months Debt Index or Union Money Market? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Union Money Market returned more over 1 year: 6.6% against 6.5%.
- Kotak CRISIL IBX Financial Services 3 6 Months Debt Index costs less: 0.12% a year against 0.17% (Direct plans).
- Union Money Market fell less in its worst fall since 11-03-2025: −0.1% against −0.1%.
- Union Money Market is the larger fund: ₹1,120 Cr against ₹236 Cr.
- Their portfolios overlap 17.3%: 4 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 CRISIL IBX Financial Services 3 6 Months Debt Index Fund | Union Money Market Fund |
|---|---|---|
| Fund house | Kotak Mahindra Mutual Fund | Union Mutual Fund |
| Category | Index | Money Market |
| AUM | ₹236 Cr (30-09-2026) | ₹1,120 Cr (30-09-2026) |
| NAV | ₹11.16 (Direct) | ₹1,378.40 (Direct) |
| Expense ratio (Direct) | 0.12% | 0.17% |
| Expense ratio (Regular) | 0.36% | 0.64% |
| Riskometer | Low to Moderate | Low to Moderate |
| Benchmark | CRISIL-IBX Financial Services 3-6 Months Debt Index | CRISIL Money Market A-I Index. CRISIL Benchmark Disclaimer: CRISIL Indices are the sole property of CRISIL Limited (CRIS |
| Launch date | 07-03-2025 | 26-08-2021 |
| Minimum investment | ₹100 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Manu Sharma | Devesh Thacker, Parijat Agrawal |
| Exit load | NIL | Nil |
Kotak CRISIL IBX Financial Services 3 6 Months Debt Index vs Union Money Market: 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 CRISIL IBX Financial Services 3 6 Months Debt Index Fund (Direct) | +0.28% | +1.39% | +3.20% | +6.50% | -- | -- | -- |
| Union Money Market Fund (Direct) | +0.30% | +1.47% | +3.29% | +6.57% | +7.13% | +6.51% | -- |
| Money Market average | +0.33% | +1.49% | +3.29% | +6.35% | +7.24% | +6.68% | -- |
Category average: the average of the 27 Money Market funds, same plan type.
Kotak CRISIL IBX Financial Services 3 6 Months Debt Index vs Union Money Market: Year-wise Returns
| Year | Kotak CRISIL IBX Financial Services 3 6 Months Debt IndexKotak CRISIL IBX Financial Services 3 6 Months Debt Index | Union Money MarketUnion Money Market |
|---|---|---|
| 2026to date | +5.40% | +5.49% |
| 2025 | -- | +7.25% |
| 2024 | -- | +7.48% |
| 2023 | -- | +7.03% |
| 2022 | -- | +4.72% |
Kotak CRISIL IBX Financial Services 3 6 Months Debt Index vs Union Money Market: Rolling Returns
Every holding period of both funds
Rolling returns
Every 1-year holding period, 154 of them, one for each trading day from 11-03-2026 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.
Kotak CRISIL IBX Financial Services 3 6 Months Debt Index Fund (Direct)
Union Money Market Fund (Direct)
to
Mar 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Kotak CRISIL IBX Financial Services 3 6 Months Debt Index | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 6.7% | 6.7% | 6.3% | 7.0% |
| Union Money Market | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 6.6% | 6.6% | 6.1% | 7.0% |
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 11-03-2025. Past returns do not promise future returns.
Kotak CRISIL IBX Financial Services 3 6 Months Debt Index vs Union Money Market: 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 11-03-2025 to 30-10-2026: 20 instalments, ₹2,00,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Kotak CRISIL IBX Financial Services 3 6 Months Debt IndexKotak CRISIL IBX Financial Services 3 6 Months Debt Index Fund (Direct) | ₹2,00,000 | ₹2,11,372 | ₹11,372 | 6.5% |
| Union Money MarketUnion Money Market Fund (Direct) | ₹2,00,000 | ₹2,11,504 | ₹11,504 | 6.6% |
Kotak CRISIL IBX Financial Services 3 6 Months Debt IndexKotak CRISIL IBX Financial Services 3 6 Months Debt Index Fund (Direct)
Union Money MarketUnion Money Market 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 CRISIL IBX Financial Services 3 6 Months Debt Index vs Union Money Market: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Kotak CRISIL IBX Financial Services 3 6 Months Debt Index Fund (Direct) | Union Money Market Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.50% | +6.57% |
| Standard deviation | 0.45% | 0.46% |
| Sharpe ratio | 2.78 | 2.85 |
| Sortino ratio | 4.44 | 4.75 |
| Maximum drawdown | −0.1% (22-10-2026) | −0.1% (08-07-2026) |
| 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 CRISIL IBX Financial Services 3 6 Months Debt Index Fund (Direct) | Union Money Market Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.85% | +6.39% |
| Standard deviation | 0.41% | 0.34% |
| Sharpe ratio | 3.42 | 1.98 |
| Sortino ratio | 5.97 | 3.81 |
| Maximum drawdown | −0.1% (22-10-2026) | −0.1% (08-07-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 11-03-2025 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.
Kotak CRISIL IBX Financial Services 3 6 Months Debt Index Fund (Direct)
Union Money Market Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Kotak CRISIL IBX Financial Services 3 6 Months Debt Index Fund (Direct) | −0.1% | 14-10-2026 | 22-10-2026 | 29-10-2026 | 7 days | 0.0% |
| Union Money Market Fund (Direct) | −0.1% | 06-07-2026 | 08-07-2026 | 17-07-2026 | 9 days | 0.0% |
From daily values since 11-03-2025, 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.
Kotak CRISIL IBX Financial Services 3 6 Months Debt Index Fund (Direct)
Union Money Market Fund (Direct)
Kotak CRISIL IBX Financial Services 3 6 Months Debt Index vs Union Money Market: Portfolio Overlap
From each fund's latest monthly portfolio: Kotak CRISIL IBX Financial Services 3 6 Months Debt Index Fund, September 2026; Union Money Market Fund, September 2026
Holdings in common
- Overlap
- 17.3%
- Held by both
- 4
- Only in Kotak CRISIL IBX Financial Services 3 6 Months Debt Index
- 13
- Only in Union Money Market
- 38
| Security | % of Kotak CRISIL IBX Financial Services 3 6 Months Debt Index | % of Union Money Market |
|---|---|---|
| LIC HOUSING FINANCE LTD. | 10.26% | 6.49% |
| HDFC BANK LTD. | 10.26% | 4.33% |
| CANARA BANK | 6.16% | 4.33% |
| SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA | 6.14% | 2.16% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 17.3% means 17.3% 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 CRISIL IBX Financial Services 3 6 Months Debt Index Fund
| Security | % of fund |
|---|---|
| ADITYA BIRLA CAPITAL LTD | 10.30% |
| PUNJAB NATIONAL BANK | 10.26% |
| Export-Import Bank of India | 10.26% |
| BAJAJ HOUSING FINANCE LTD. | 10.25% |
| UNION BANK OF INDIA | 6.16% |
Largest holdings only in Union Money Market Fund
| Security | % of fund |
|---|---|
| Indian Bank | 4.41% |
| Mahindra Rural Housing Finance Ltd. | 4.35% |
| Axis Bank Ltd. | 4.35% |
| Axis Bank Ltd. | 4.34% |
| Mahindra & Mahindra Financial Services Ltd. | 4.33% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Kotak CRISIL IBX Financial Services 3 6 Months Debt Index | Union Money Market |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 97.5% | 107.0% |
| Cash and others | 2.5% | -7.0% |
Kotak CRISIL IBX Financial Services 3 6 Months Debt Index vs Union Money Market: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Kotak CRISIL IBX Financial Services 3 6 Months Debt Index Fund | Union Money Market Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.12% | 0.17% |
| Base expense ratio (Direct) | 0.10% | 0.14% |
| Total expense ratio (Regular) | 0.36% | 0.64% |
| Base expense ratio (Regular) | 0.30% | 0.53% |
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
Kotak CRISIL IBX Financial Services 3 6 Months Debt Index Fund vs Union Money Market Fund: Frequently Asked Questions
What is the difference between Kotak CRISIL IBX Financial Services 3 6 Months Debt Index Fund and Union Money Market Fund?
Kotak CRISIL IBX Financial Services 3 6 Months Debt Index Fund is an Index fund, Union Money Market Fund is a Money Market fund, run by Kotak Mahindra Mutual Fund and Union Mutual Fund. Their portfolios overlap 17.3%. Kotak CRISIL IBX Financial Services 3 6 Months Debt Index Fund charges 0.12% a year and Union Money Market Fund 0.17%.
Which has given higher returns, Kotak CRISIL IBX Financial Services 3 6 Months Debt Index Fund or Union Money Market Fund?
Over 1 year: Kotak CRISIL IBX Financial Services 3 6 Months Debt Index Fund +6.50%, Union Money Market Fund +6.57%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Kotak CRISIL IBX Financial Services 3 6 Months Debt Index Fund or Union Money Market Fund?
Kotak CRISIL IBX Financial Services 3 6 Months Debt Index Fund charges less: 0.12% a year against 0.17%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Kotak CRISIL IBX Financial Services 3 6 Months Debt Index Fund and Union Money Market Fund overlap?
17.3%. They hold 4 of the same securities, the largest shared ones being LIC HOUSING FINANCE LTD., HDFC BANK LTD., CANARA BANK. From each fund's latest monthly portfolio.
Which is riskier, Kotak CRISIL IBX Financial Services 3 6 Months Debt Index Fund or Union Money Market Fund?
On SEBI's riskometer, Kotak CRISIL IBX Financial Services 3 6 Months Debt Index Fund is rated Low to Moderate and Union Money Market Fund Low to Moderate. Over 1 years, the standard deviation of daily returns was 0.45% and 0.46% a year.
Can I invest in both Kotak CRISIL IBX Financial Services 3 6 Months Debt Index Fund and Union Money Market Fund?
Yes. 17.3% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Kotak CRISIL IBX Financial Services 3 6 Months Debt Index Fund and Union Money Market Fund?
Kotak CRISIL IBX Financial Services 3 6 Months Debt Index Fund: Manu Sharma. Union Money Market Fund: Devesh Thacker, Parijat 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.