Kotak ESG Exclusionary Strategy Fund vs Zerodha BSE SENSEX Index Fund
Direct Plan, Growth option · Data as on 30-10-2026
Kotak ESG Exclusionary Strategy Fund is a Thematic fund and Zerodha BSE SENSEX Index Fund is an Index fund. Kotak ESG Exclusionary Strategy Fund charges 1.15% a year and Zerodha BSE SENSEX Index Fund 0.47% (Direct plans). Their portfolios overlap 49.2%: they hold 17 of the same securities.
Kotak ESG Exclusionary Strategy Fund
Thematic
- Expense ratio
- 1.15%
- NAV
- ₹17.48
Which is better, Kotak ESG Exclusionary Strategy or Zerodha BSE SENSEX Index? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Zerodha BSE SENSEX Index costs less: 0.47% a year against 1.15% (Direct plans).
- Kotak ESG Exclusionary Strategy fell less in its worst fall since 10-11-2025: −14.7% against −16.1%.
- Zerodha BSE SENSEX Index holds more in large companies: 100.1% of the fund in large caps against 75.0%.
- Kotak ESG Exclusionary Strategy is the larger fund: ₹685 Cr against ₹19 Cr.
- Their portfolios overlap 49.2%: 17 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 ESG Exclusionary Strategy Fund | Zerodha BSE SENSEX Index Fund |
|---|---|---|
| Fund house | Kotak Mahindra Mutual Fund | Zerodha Mutual Fund |
| Category | Thematic | Index |
| AUM | ₹685 Cr (30-09-2026) | ₹19 Cr (30-09-2026) |
| NAV | ₹17.48 (Direct) | ₹8.99 (Direct) |
| Expense ratio (Direct) | 1.15% | 0.47% |
| Expense ratio (Regular) | 2.50% | Not available |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 100 ESG TRI | BSE SENSEX TRI |
| Launch date | 11-12-2020 | 06-11-2025 |
| Minimum investment | ₹100 | ₹100 |
| Lock in | None | None |
| Fund managers | Mandar Pawar | Kedarnath Mirajkar |
| Exit load | 0.5% for redemption within 90 Days | Nil |
Kotak ESG Exclusionary Strategy vs Zerodha BSE SENSEX Index: 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 ESG Exclusionary Strategy Fund (Direct) | +0.32% | −5.69% | −1.67% | −8.34% | +8.91% | +6.97% | -- |
| Zerodha BSE SENSEX Index Fund (Direct) | +2.75% | −4.37% | −2.58% | -- | -- | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | +13.76% | +11.62% | -- |
Category average: the average of the 235 Thematic funds, same plan type.
Kotak ESG Exclusionary Strategy vs Zerodha BSE SENSEX Index: Year-wise Returns
| Year | Kotak ESG Exclusionary StrategyKotak ESG Exclusionary Strategy | Zerodha BSE SENSEX IndexZerodha BSE SENSEX Index |
|---|---|---|
| 2026to date | −9.00% | −12.06% |
| 2025 | +9.57% | -- |
| 2024 | +13.89% | -- |
| 2023 | +22.47% | -- |
| 2022 | +0.30% | -- |
| 2021 | +24.04% | -- |
Kotak ESG Exclusionary Strategy vs Zerodha BSE SENSEX Index: Rolling Returns
Every holding period of both funds, against NIFTY100 ESG TRI, the benchmark of Kotak ESG Exclusionary Strategy Fund
Kotak ESG Exclusionary Strategy vs Zerodha BSE SENSEX Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Kotak ESG Exclusionary Strategy Fund (Direct) | Zerodha BSE SENSEX Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.96% | −10.70% |
| Standard deviation | 13.83% | 14.00% |
| Sharpe ratio | 0.33 | -1.14 |
| Sortino ratio | 0.45 | -1.53 |
| Maximum drawdown | −21.9% (20-06-2022) | −16.1% (30-03-2026) |
| Beta | 0.94 | 1.00 |
| Alpha | −1.04% | −0.40% |
From daily NAVs, 18-12-2020 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 ESG Exclusionary Strategy Fund (Direct)
Zerodha BSE SENSEX Index Fund (Direct)
NIFTY100 ESG TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Kotak ESG Exclusionary Strategy Fund (Direct) | −14.7% | 11-02-2026 | 30-03-2026 | Not yet | -- | −10.3% |
| Zerodha BSE SENSEX Index Fund (Direct) | −16.1% | 02-01-2026 | 30-03-2026 | Not yet | -- | −12.6% |
| NIFTY100 ESG TRI | −15.4% | 07-01-2026 | 30-03-2026 | Not yet | -- | −8.8% |
From daily values since 10-11-2025, the first day every fund has.
Kotak ESG Exclusionary Strategy vs Zerodha BSE SENSEX Index: Portfolio Overlap
From each fund's latest monthly portfolio: Kotak ESG Exclusionary Strategy Fund, September 2026; Zerodha BSE SENSEX Index Fund, September 2026
Holdings in common
- Overlap
- 49.2%
- Held by both
- 17
- Only in Kotak ESG Exclusionary Strategy
- 29
- Only in Zerodha BSE SENSEX Index
- 13
| Security | % of Kotak ESG Exclusionary Strategy | % of Zerodha BSE SENSEX Index |
|---|---|---|
| ICICI BANK LTD. | 6.95% | 11.04% |
| BHARTI AIRTEL LTD. | 7.70% | 6.39% |
| HDFC BANK LTD. | 5.28% | 12.59% |
| Larsen and Toubro Ltd. | 4.45% | 5.11% |
| Infosys Ltd. | 4.36% | 4.09% |
| AXIS BANK LTD. | 4.83% | 4.08% |
| STATE BANK OF INDIA. | 3.78% | 4.64% |
| BAJAJ FINANCE LTD. | 4.20% | 3.00% |
| ETERNAL LIMITED | 4.21% | 2.70% |
| TATA CONSULTANCY SERVICES LTD. | 1.98% | 2.42% |
| Ultratech Cement Ltd. | 3.84% | 1.50% |
| Hindustan Unilever Ltd. | 1.10% | 1.96% |
| Tech Mahindra Ltd. | 0.96% | 1.13% |
| Mahindra & Mahindra Ltd. | 0.95% | 3.08% |
| Maruti Suzuki India Limited | 0.87% | 1.79% |
| HCL Technologies Ltd. | 0.72% | 1.51% |
| RELIANCE INDUSTRIES LTD. | 0.35% | 9.16% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 49.2% means 49.2% 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 ESG Exclusionary Strategy Fund
| Security | % of fund |
|---|---|
| Bosch Limited | 4.13% |
| SHRIRAM FINANCE LIMITED | 3.87% |
| Linde India Ltd. | 3.32% |
| Hero MotoCorp Ltd. | 2.64% |
| GODREJ CONSUMER PRODUCTS LTD. | 2.23% |
Largest holdings only in Zerodha BSE SENSEX Index Fund
| Security | % of fund |
|---|---|
| Kotak Mahindra Bank Limited | 3.58% |
| ITC Limited | 2.97% |
| Sun Pharmaceutical Industries Limited | 2.29% |
| Titan Company Limited | 2.18% |
| NTPC Limited | 1.78% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Kotak ESG Exclusionary Strategy | Zerodha BSE SENSEX Index |
|---|---|---|
| Equity | 98.7% | 100.1% |
| Debt | 0.0% | 0.0% |
| Cash and others | 1.3% | -0.1% |
Market cap of stocks
| Market cap | Kotak ESG Exclusionary Strategy | Zerodha BSE SENSEX Index |
|---|---|---|
| Large Cap | 75.0% | 100.1% |
| Mid Cap | 17.7% | 0.0% |
| Small Cap | 5.9% | 0.0% |
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 ESG Exclusionary Strategy | Zerodha BSE SENSEX Index |
|---|---|---|
| Banks | 22.7% | 35.9% |
| Finance | 10.2% | 4.1% |
| Petroleum Products | 0.3% | 9.2% |
| Retailing | 9.2% | 3.7% |
| IT - Software | 8.0% | 9.2% |
| Telecom - Services | 8.9% | 6.4% |
| Auto Components | 6.0% | 0.0% |
| Construction | 4.5% | 5.1% |
| Diversified FMCG | 1.1% | 4.9% |
The six largest sectors of each fund's stocks, % of the fund.
Kotak ESG Exclusionary Strategy vs Zerodha BSE SENSEX Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Kotak ESG Exclusionary Strategy Fund | Zerodha BSE SENSEX Index Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.15% | 0.47% |
| Base expense ratio (Direct) | 0.90% | 0.29% |
| Total expense ratio (Regular) | 2.50% | Not available |
| Base expense ratio (Regular) | 2.04% | 0.00% |
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
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Kotak ESG Exclusionary Strategy Fund vs Zerodha BSE SENSEX Index Fund: Frequently Asked Questions
What is the difference between Kotak ESG Exclusionary Strategy Fund and Zerodha BSE SENSEX Index Fund?
Kotak ESG Exclusionary Strategy Fund is a Thematic fund, Zerodha BSE SENSEX Index Fund is an Index fund, run by Kotak Mahindra Mutual Fund and Zerodha Mutual Fund. Their portfolios overlap 49.2%. Kotak ESG Exclusionary Strategy Fund charges 1.15% a year and Zerodha BSE SENSEX Index Fund 0.47%.
Which has the lower expense ratio, Kotak ESG Exclusionary Strategy Fund or Zerodha BSE SENSEX Index Fund?
Zerodha BSE SENSEX Index Fund charges less: 0.47% a year against 1.15%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Kotak ESG Exclusionary Strategy Fund and Zerodha BSE SENSEX Index Fund overlap?
49.2%. They hold 17 of the same securities, the largest shared ones being ICICIBANK, BHARTIARTL, HDFCBANK. From each fund's latest monthly portfolio.
Which is riskier, Kotak ESG Exclusionary Strategy Fund or Zerodha BSE SENSEX Index Fund?
On SEBI's riskometer, Kotak ESG Exclusionary Strategy Fund is rated Very High and Zerodha BSE SENSEX Index Fund Very High. Over their common history, the standard deviation of daily returns was 13.83% and 14.00% a year.
Can I invest in both Kotak ESG Exclusionary Strategy Fund and Zerodha BSE SENSEX Index Fund?
Yes. 49.2% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Kotak ESG Exclusionary Strategy Fund and Zerodha BSE SENSEX Index Fund?
Kotak ESG Exclusionary Strategy Fund: Mandar Pawar. Zerodha BSE SENSEX Index Fund: Kedarnath Mirajkar.
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.