Kotak Equity Savings Fund vs Kotak Multi Asset Allocation Fund
Direct Plan, Growth option · Data as on 30-10-2026
Kotak Equity Savings Fund is an Equity Savings fund and Kotak Multi Asset Allocation Fund is a Multi Asset fund. In the 3 years to 30-10-2026, Kotak Equity Savings Fund (Direct) returned 9.4% a year and Kotak Multi Asset Allocation Fund (Direct) returned 16.2% a year. Kotak Equity Savings Fund charges 1.09% a year and Kotak Multi Asset Allocation Fund 0.63% (Direct plans). Their portfolios overlap 39.4%: they hold 42 of the same securities.
Kotak Equity Savings Fund
Equity Savings
- 3 year return
- 9.4%
- Expense ratio
- 1.09%
- NAV
- ₹29.94
Kotak Multi Asset Allocation Fund
Multi Asset
- 3 year return
- 16.2%
- Expense ratio
- 0.63%
- NAV
- ₹15.65
Which is better, Kotak Equity Savings or Kotak Multi Asset Allocation? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Kotak Multi Asset Allocation returned more over 3 years: 16.2% a year against 9.4%.
- Kotak Multi Asset Allocation returned more over 1 year: 4.3% against 0.6%.
- Kotak Multi Asset Allocation costs less: 0.63% a year against 1.09% (Direct plans).
- Kotak Equity Savings swung less over 3 years: a standard deviation of 5.7% a year against 12.2%.
- Kotak Equity Savings fell less in its worst fall since 03-10-2023: −6.0% against −13.8%.
- Kotak Multi Asset Allocation is the larger fund: ₹15,236 Cr against ₹10,443 Cr.
- Their portfolios overlap 39.4%: 42 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 Equity Savings Fund | Kotak Multi Asset Allocation Fund |
|---|---|---|
| Fund house | Kotak Mahindra Mutual Fund | Kotak Mahindra Mutual Fund |
| Category | Equity Savings | Multi Asset |
| AUM | ₹10,443 Cr (30-09-2026) | ₹15,236 Cr (30-09-2026) |
| NAV | ₹29.94 (Direct) | ₹15.65 (Direct) |
| Expense ratio (Direct) | 1.09% | 0.63% |
| Expense ratio (Regular) | 2.13% | 1.76% |
| Riskometer | Moderately High | Very High |
| Benchmark | NIFTY Equity Savings Index (TRI) | NIFTY 500 TRI 65% + NIFTY Short Duration Debt Index 25% + Domestic Price of Gold 5% + Domestic Price of Silver 5% |
| Launch date | 13-10-2014 | 22-09-2023 |
| Minimum investment | ₹100 | ₹100 |
| Lock in | None | None |
| Fund managers | Devender Singhal, Abhishek Bisen, Hiten Shah | Devender Singhal, Abhishek Bisen, Hiten Shah, Jeetu Valechha Sonar |
| Exit load | Exit load for units in excess of 8% of the investment,1% will be charged for redemption within 90 days. | Exit Load for units in excess of 30% of the investment,1% will be charged for redemption within 1 year. |
Kotak Equity Savings vs Kotak Multi Asset Allocation: 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 Equity Savings Fund (Direct) | −1.35% | −2.08% | −0.15% | +0.58% | +9.45% | +9.14% | +9.65% |
| Kotak Multi Asset Allocation Fund (Direct) | −3.51% | −4.32% | −4.66% | +4.34% | +16.23% | -- | -- |
| Equity Savings average | −0.02% | −0.68% | +1.71% | +2.12% | +8.55% | +7.55% | +8.43% |
| Multi Asset average | −1.71% | −3.33% | −1.78% | +2.00% | +14.20% | -- | -- |
Category average: the average of the 23 Equity Savings funds and the 37 Multi Asset funds, same plan type.
Kotak Equity Savings vs Kotak Multi Asset Allocation: Year-wise Returns
| Year | Equity SavingsKotak Equity Savings | Multi Asset AllocationKotak Multi Asset Allocation |
|---|---|---|
| 2026to date | −0.57% | −2.85% |
| 2025 | +9.12% | +24.37% |
| 2024 | +12.97% | +17.87% |
| 2023 | +16.89% | -- |
| 2022 | +7.90% | -- |
| 2021 | +12.17% | -- |
Kotak Equity Savings vs Kotak Multi Asset Allocation: Rolling Returns
Every holding period of both funds
Rolling returns
Every 1-year holding period, 511 of them, one for each trading day from 03-10-2024 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 Equity Savings Fund (Direct)
Kotak Multi Asset Allocation Fund (Direct)
to
Dec 2024Apr 2024
to
Apr 2025Aug 2024
to
Aug 2025Dec 2024
to
Dec 2025May 2025
to
May 2026Aug 2025
to
Aug 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 Equity Savings | 0.0 | 11.5 | 67.1 | 11.4 | 8.0 | 2.0 | 0.0 | 8.5% | 7.6% | 0.3% | 21.2% |
| Kotak Multi Asset Allocation | 0.0 | 5.7 | 26.2 | 13.5 | 13.1 | 17.4 | 24.2 | 17.3% | 17.3% | 2.5% | 39.2% |
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 03-10-2023. Past returns do not promise future returns.
Kotak Equity Savings vs Kotak Multi Asset Allocation: 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 03-10-2023 to 30-10-2026: 37 instalments, ₹3,70,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Kotak Equity SavingsKotak Equity Savings Fund (Direct) | ₹3,70,000 | ₹4,02,100 | ₹32,100 | 5.3% |
| Kotak Multi Asset AllocationKotak Multi Asset Allocation Fund (Direct) | ₹3,70,000 | ₹4,35,008 | ₹65,008 | 10.5% |
Kotak Equity SavingsKotak Equity Savings Fund (Direct)
Kotak Multi Asset AllocationKotak Multi Asset Allocation 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 Equity Savings vs Kotak Multi Asset Allocation: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Kotak Equity Savings Fund (Direct) | Kotak Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +0.58% | +4.34% |
| Standard deviation | 5.72% | 15.49% |
| Sharpe ratio | -0.81 | -0.06 |
| Sortino ratio | -1.05 | -0.07 |
| Maximum drawdown | −5.2% (30-03-2026) | −13.8% (23-03-2026) |
| 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 Equity Savings Fund (Direct) | Kotak Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.45% | +16.23% |
| Standard deviation | 5.66% | 12.23% |
| Sharpe ratio | 0.60 | 0.83 |
| Sortino ratio | 0.82 | 1.11 |
| Maximum drawdown | −6.0% (28-02-2025) | −13.8% (23-03-2026) |
| 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 Equity Savings Fund (Direct) | Kotak Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.53% | +15.57% |
| Standard deviation | 5.60% | 12.12% |
| Sharpe ratio | 0.68 | 0.79 |
| Sortino ratio | 0.92 | 1.05 |
| Maximum drawdown | −16.5% (23-03-2020) | −13.8% (23-03-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 17-10-2014 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 Equity Savings Fund (Direct)
Kotak Multi Asset Allocation Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Kotak Equity Savings Fund (Direct) | −6.0% | 06-12-2024 | 28-02-2025 | 15-05-2025 | 2 months | −3.0% |
| Kotak Multi Asset Allocation Fund (Direct) | −13.8% | 29-01-2026 | 23-03-2026 | Not yet | -- | −9.9% |
From daily values since 03-10-2023, 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 Equity Savings Fund (Direct)
Kotak Multi Asset Allocation 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 Equity Savings Fund (Direct)
Kotak Multi Asset Allocation Fund (Direct)
Kotak Equity Savings vs Kotak Multi Asset Allocation: Portfolio Overlap
From each fund's latest monthly portfolio: Kotak Equity Savings Fund, September 2026; Kotak Multi Asset Allocation Fund, September 2026
Holdings in common
- Overlap
- 39.4%
- Held by both
- 42
- Only in Kotak Equity Savings
- 118
- Only in Kotak Multi Asset Allocation
- 56
| Security | % of Kotak Equity Savings | % of Kotak Multi Asset Allocation |
|---|---|---|
| STATE BANK OF INDIA. | 2.77% | 3.27% |
| Maruti Suzuki India Limited | 2.94% | 2.40% |
| HDFC BANK LTD. | 4.38% | 2.39% |
| NTPC LTD | 2.24% | 2.51% |
| Hero MotoCorp Ltd. | 2.23% | 2.24% |
| Indus Towers Ltd. | 3.38% | 2.09% |
| ITC Ltd. | 1.87% | 2.54% |
| Radico Khaitan Ltd. | 2.37% | 1.68% |
| One 97 Communications Ltd | 3.60% | 1.50% |
| ICICI BANK LTD. | 2.19% | 1.36% |
| BHARTI AIRTEL LTD. | 4.93% | 1.27% |
| POONAWALLA FINCORP LIMITED | 1.39% | 1.27% |
| Hindustan Unilever Ltd. | 1.25% | 1.98% |
| BANK OF BARODA | 1.21% | 1.74% |
| RELIANCE INDUSTRIES LTD. | 2.02% | 1.19% |
| ETERNAL LIMITED | 1.13% | 2.50% |
| NLC India Ltd. (Neyveli Lignite Corporation Ltd.) | 1.10% | 1.57% |
| PUNJAB NATIONAL BANK | 0.84% | 0.96% |
| Hindustan Zinc Ltd. | 0.82% | 0.93% |
| Oracle Financial Services Software Ltd | 0.81% | 1.99% |
| Power Finance Corporation Ltd. | 0.75% | 2.00% |
| SWIGGY LTD | 0.73% | 0.74% |
| Power Finance Corporation Ltd. | 0.95% | 0.65% |
| MUTHOOT FINANCE LTD. | 0.95% | 0.65% |
| Vodafone Idea Ltd | 0.59% | 0.70% |
| Sapphire Foods India Ltd. | 0.59% | 0.55% |
| Kotak Liquid Direct Growth | 7.59% | 0.52% |
| HERO MOTORS LIMITED | 0.52% | 0.63% |
| JYOTI CNC AUTOMATION LTD | 0.49% | 0.59% |
| HDFC BANK LTD. | 0.47% | 0.64% |
| Central Government - 2065 | 0.41% | 1.14% |
| EMBASSY OFFICE PARKS REIT | 0.75% | 0.36% |
| EMMVEE PHOTOVOLTAIC POWER LIMITED | 1.38% | 0.28% |
| Sun TV Network Limited | 0.28% | 0.39% |
| Hindalco Industries Ltd. | 0.22% | 0.96% |
| NTPC GREEN ENERGY LIMITED | 0.16% | 0.81% |
| Bihar State Govt - 2035 - Bihar | 0.22% | 0.15% |
| PRASOL CHEMICALS LIMITED | 0.13% | 0.27% |
| PUNJAB NATIONAL BANK | 0.05% | 0.64% |
| INDUS INFRA TRUST | 1.33% | 0.03% |
| SHRIRAM FINANCE LIMITED | 0.02% | 1.74% |
| NMDC Ltd. | 0.26% | 0.01% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 39.4% means 39.4% 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 Equity Savings Fund
| Security | % of fund |
|---|---|
| Adani Ports and Special Economic Zone Limited | 2.47% |
| CUBE HIGHWAYS TRUST | 1.79% |
| INDUSIND BANK LTD. | 1.42% |
| AXIS BANK LTD. | 1.26% |
| Larsen and Toubro Ltd. | 1.12% |
Largest holdings only in Kotak Multi Asset Allocation Fund
| Security | % of fund |
|---|---|
| KOTAK MUTUAL FUND - KOTAK SILVER ETF | 7.90% |
| KOTAK MUTUAL FUND - KOTAK GOLD ETF | 5.74% |
| INDO-MIM LTD | 2.91% |
| MTAR TECHNOLOGIES LIMITED | 1.95% |
| PARK MEDI WORLD LIMITED (PARK HOSPITAL) | 1.62% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Kotak Equity Savings | Kotak Multi Asset Allocation |
|---|---|---|
| Equity | 64.3% | 70.7% |
| Debt | 16.4% | 10.6% |
| Cash and others | 19.3% | 18.7% |
Market cap of stocks
| Market cap | Kotak Equity Savings | Kotak Multi Asset Allocation |
|---|---|---|
| Large Cap | 42.8% | 36.0% |
| Mid Cap | 17.0% | 16.0% |
| Small Cap | 3.9% | 14.5% |
| Not on AMFI's list | 0.7% | 4.1% |
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 Equity Savings | Kotak Multi Asset Allocation |
|---|---|---|
| Banks | 13.3% | 11.4% |
| Telecom - Services | 8.9% | 4.1% |
| Automobiles | 5.8% | 4.6% |
| Finance | 4.0% | 5.6% |
| Power | 3.5% | 4.9% |
| Diversified FMCG | 3.1% | 4.5% |
| Industrial Manufacturing | 0.5% | 4.1% |
| Financial Technology (Fintech) | 3.6% | 1.5% |
The six largest sectors of each fund's stocks, % of the fund.
Kotak Equity Savings vs Kotak Multi Asset Allocation: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Kotak Equity Savings Fund | Kotak Multi Asset Allocation Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.09% | 0.63% |
| Base expense ratio (Direct) | 0.57% | 0.44% |
| Total expense ratio (Regular) | 2.13% | 1.76% |
| Base expense ratio (Regular) | 1.45% | 1.40% |
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 Equity Savings with
Kotak Equity Savings Fund vs Kotak Multi Asset Allocation Fund: Frequently Asked Questions
What is the difference between Kotak Equity Savings Fund and Kotak Multi Asset Allocation Fund?
Kotak Equity Savings Fund is an Equity Savings fund, Kotak Multi Asset Allocation Fund is a Multi Asset fund, run by Kotak Mahindra Mutual Fund. Their portfolios overlap 39.4%. Kotak Equity Savings Fund charges 1.09% a year and Kotak Multi Asset Allocation Fund 0.63%.
Which has given higher returns, Kotak Equity Savings Fund or Kotak Multi Asset Allocation Fund?
Over 1 year: Kotak Equity Savings Fund +0.58%, Kotak Multi Asset Allocation Fund +4.34%. Over 3 years: Kotak Equity Savings Fund +9.45% a year, Kotak Multi Asset Allocation Fund +16.23% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Kotak Equity Savings Fund or Kotak Multi Asset Allocation Fund?
Kotak Multi Asset Allocation Fund charges less: 0.63% a year against 1.09%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Kotak Equity Savings Fund and Kotak Multi Asset Allocation Fund overlap?
39.4%. They hold 42 of the same securities, the largest shared ones being SBIN, MARUTI, HDFCBANK. From each fund's latest monthly portfolio.
Which is riskier, Kotak Equity Savings Fund or Kotak Multi Asset Allocation Fund?
On SEBI's riskometer, Kotak Equity Savings Fund is rated Moderately High and Kotak Multi Asset Allocation Fund Very High. Over 3 years, the standard deviation of daily returns was 5.66% and 12.23% a year.
Which is better for SIP, Kotak Equity Savings Fund or Kotak Multi Asset Allocation Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹4,02,100 in Kotak Equity Savings Fund (XIRR 5.3% a year) and ₹4,35,008 in Kotak Multi Asset Allocation Fund (XIRR 10.5% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both Kotak Equity Savings Fund and Kotak Multi Asset Allocation Fund?
Yes. 39.4% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Kotak Equity Savings Fund and Kotak Multi Asset Allocation Fund?
Kotak Equity Savings Fund: Devender Singhal, Abhishek Bisen, Hiten Shah. Kotak Multi Asset Allocation Fund: Devender Singhal, Abhishek Bisen, Hiten Shah, 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.