Kotak Healthcare Fund vs Motilal Oswal BSE Healthcare ETF
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
Kotak Healthcare Fund is a Thematic fund and Motilal Oswal BSE Healthcare ETF is an ETF fund. In the year to 30-10-2026, Kotak Healthcare Fund (Direct) returned 23.3% and Motilal Oswal BSE Healthcare ETF returned 12.2%. Kotak Healthcare Fund charges 1.03% a year and Motilal Oswal BSE Healthcare ETF 0.36%. Their portfolios overlap 55.8%: they hold 32 of the same securities.
Motilal Oswal BSE Healthcare ETF
ETF
- 1 year return
- 12.2%
- Expense ratio
- 0.36%
- NAV
- ₹50.91
Which is better, Kotak Healthcare or Motilal Oswal BSE Healthcare ETF? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Kotak Healthcare returned more over 1 year: 23.3% against 12.2%.
- Motilal Oswal BSE Healthcare ETF costs less: 0.36% a year against 1.03%.
- Motilal Oswal BSE Healthcare ETF fell less in its worst fall since 18-12-2023: −16.1% against −18.1%.
- Kotak Healthcare is the larger fund: ₹825 Cr against ₹44 Cr.
- Their portfolios overlap 55.8%: 32 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 Healthcare Fund | Motilal Oswal BSE Healthcare ETF |
|---|---|---|
| Fund house | Kotak Mahindra Mutual Fund | Motilal Oswal Mutual Fund |
| Category | Thematic | ETF |
| AUM | ₹825 Cr (30-09-2026) | ₹44 Cr (30-09-2026) |
| NAV | ₹17.44 (Direct) | ₹50.91 |
| Expense ratio (Direct) | 1.03% | Not available |
| Expense ratio (Regular) | 2.55% | Not available |
| Riskometer | Very High | Very High |
| Benchmark | NIFTY Healthcare TRI | BSE Healthcare TRI |
| Launch date | 12-12-2023 | 29-07-2022 |
| Minimum investment | ₹100 | ₹500 |
| Lock in | None | None |
| Fund managers | Dhananjay Tikariha, Abhishek Bisen | Swapnil Mayekar, Rakesh Shetty |
| Exit load | 0.5% for redemption within 30 Days | Nil |
Kotak Healthcare vs Motilal Oswal BSE Healthcare ETF: 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 Healthcare Fund (Direct) | −0.62% | +1.50% | +19.13% | +23.31% | -- | -- | -- |
| Motilal Oswal BSE Healthcare ETF | +0.22% | −1.05% | +12.72% | +12.16% | +22.69% | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | -- | -- | -- |
Category average: the average of the 235 Thematic funds, same plan type.
Kotak Healthcare vs Motilal Oswal BSE Healthcare ETF: Year-wise Returns
| Year | Kotak HealthcareKotak Healthcare | Motilal Oswal BSE Healthcare ETFMotilal Oswal BSE Healthcare ETF |
|---|---|---|
| 2026to date | +27.28% | +14.90% |
| 2025 | −5.83% | −2.93% |
| 2024 | +41.86% | +43.80% |
| 2023 | -- | +37.59% |
Kotak Healthcare vs Motilal Oswal BSE Healthcare ETF: Rolling Returns
Every holding period of both funds, against Nifty Healthcare Index TRI, the benchmark of Kotak Healthcare Fund
Rolling returns
Every 1-year holding period, 460 of them, one for each trading day from 18-12-2024 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 Healthcare Fund (Direct)
Motilal Oswal BSE Healthcare ETF
Nifty Healthcare Index TRI
to
Feb 2025Jun 2024
to
Jun 2025Sept 2024
to
Sept 2025Jan 2025
to
Jan 2026May 2025
to
May 2026Sept 2025
to
Sept 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 Healthcare | 13.7 | 11.7 | 11.5 | 12.6 | 25.0 | 11.1 | 14.3 | 13.6% | 15.3% | −6.2% | 42.5% | 65% |
| Motilal Oswal BSE Healthcare ETF | 9.5 | 17.7 | 15.8 | 22.9 | 19.3 | 8.2 | 6.5 | 11.9% | 11.6% | −3.9% | 47.0% | 58% |
| Nifty Healthcare Index TRI | 4.6 | 21.3 | 19.1 | 28.7 | 17.6 | 2.8 | 5.9 | 11.2% | 11.4% | −4.4% | 43.0% | -- |
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. The benchmark is Nifty Healthcare Index 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 18-12-2023. Past returns do not promise future returns.
Kotak Healthcare vs Motilal Oswal BSE Healthcare ETF: 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 18-12-2023 to 30-10-2026: 35 instalments, ₹3,50,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Kotak HealthcareKotak Healthcare Fund (Direct) | ₹3,50,000 | ₹4,59,727 | ₹1,09,727 | 19.2% |
| Motilal Oswal BSE Healthcare ETFMotilal Oswal BSE Healthcare ETF | ₹3,50,000 | ₹4,27,148 | ₹77,148 | 13.8% |
Kotak HealthcareKotak Healthcare Fund (Direct)
Motilal Oswal BSE Healthcare ETFMotilal Oswal BSE Healthcare ETF
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 Healthcare vs Motilal Oswal BSE Healthcare ETF: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Kotak Healthcare Fund (Direct) | Motilal Oswal BSE Healthcare ETF |
|---|---|---|
| Return (CAGR) | +23.31% | +12.16% |
| Standard deviation | 14.36% | 13.58% |
| Sharpe ratio | 1.26 | 0.51 |
| Sortino ratio | 1.86 | 0.75 |
| Maximum drawdown | −10.4% (23-10-2026) | −10.0% (23-10-2026) |
| Beta | 0.92 | 1.00 |
| Alpha | +12.32% | −0.20% |
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 Healthcare Fund (Direct) | Motilal Oswal BSE Healthcare ETF |
|---|---|---|
| Return (CAGR) | +21.25% | +20.31% |
| Standard deviation | 14.46% | 13.22% |
| Sharpe ratio | 1.06 | 1.07 |
| Sortino ratio | 1.49 | 1.54 |
| Maximum drawdown | −18.1% (03-03-2025) | −16.1% (28-02-2025) |
| Beta | 0.90 | 1.00 |
| Alpha | +4.30% | −0.29% |
From daily NAVs, 18-12-2023 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.
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 Healthcare Fund (Direct)
Motilal Oswal BSE Healthcare ETF
Nifty Healthcare Index TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Kotak Healthcare Fund (Direct) | −18.1% | 02-01-2025 | 03-03-2025 | 04-05-2026 | 14 months | −4.4% |
| Motilal Oswal BSE Healthcare ETF | −16.1% | 02-01-2025 | 28-02-2025 | 29-07-2025 | 5 months | −3.8% |
| Nifty Healthcare Index TRI | −15.7% | 02-01-2025 | 28-02-2025 | 29-07-2025 | 5 months | −2.9% |
From daily values since 18-12-2023, 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 Healthcare Fund (Direct)
Motilal Oswal BSE Healthcare ETF
Nifty Healthcare Index TRI
Against Nifty Healthcare Index TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Kotak Healthcare Fund (Direct) | 102% | 86% | 5.44% |
| Motilal Oswal BSE Healthcare ETF | 94% | 84% | 3.74% |
From month-end values since 18-12-2023. 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 Healthcare vs Motilal Oswal BSE Healthcare ETF: Portfolio Overlap
From each fund's latest monthly portfolio: Kotak Healthcare Fund, September 2026; Motilal Oswal BSE Healthcare ETF, September 2026
Holdings in common
- Overlap
- 55.8%
- Held by both
- 32
- Only in Kotak Healthcare
- 3
- Only in Motilal Oswal BSE Healthcare ETF
- 105
| Security | % of Kotak Healthcare | % of Motilal Oswal BSE Healthcare ETF |
|---|---|---|
| SUN PHARMACEUTICAL INDUSTRIES LTD. | 13.21% | 12.33% |
| Divis Laboratories Ltd. | 9.35% | 7.42% |
| Max Healthcare Institute Ltd. | 3.61% | 4.32% |
| TORRENT PHARMACEUTICALS LTD. | 4.65% | 3.55% |
| Cipla Ltd. | 3.26% | 4.79% |
| Apollo Hospitals Enterprise Ltd. | 2.97% | 5.21% |
| Laurus Labs Ltd | 2.88% | 4.84% |
| Fortis Healthcare India Ltd | 2.33% | 2.51% |
| MANKIND PHARMA LTD | 2.73% | 1.75% |
| Aurobindo Pharma Ltd. | 1.72% | 2.89% |
| Gland Pharma Limited | 3.16% | 1.44% |
| SAI LIFE SCIENCES LIMITED | 2.96% | 1.30% |
| KRISHNA INSTITUTE OF MEDICAL | 2.71% | 1.24% |
| Ami Organics Ltd | 4.17% | 1.06% |
| Zydus Lifesciences Ltd. | 1.06% | 1.82% |
| Ajanta Pharma Ltd. | 1.97% | 1.02% |
| Lupin Ltd. | 0.98% | 3.11% |
| DR.Lal Pathlabs Ltd | 1.06% | 0.96% |
| RUBICON RESEARCH LIMITED | 1.96% | 0.67% |
| ANTHEM BIOSCIENCES LTD | 2.34% | 0.58% |
| EMCURE PHARMACEUTICALS LIMITED | 1.77% | 0.51% |
| JUBILANT PHARMOVA LIMITED | 1.25% | 0.51% |
| Marksans Pharma Ltd | 2.44% | 0.43% |
| RAINBOW CHILDRENS MEDICARE LTD | 1.11% | 0.42% |
| Pfizer Ltd. | 0.89% | 0.37% |
| METROPOLIS HEALTHCARE LTD. | 0.98% | 0.36% |
| YATHARTH HOSPITAL AND TRAUMA CARE SERVICES LTD | 3.12% | 0.28% |
| CORONA REMEDIES LIMITED | 1.52% | 0.25% |
| VIYASH SCIENTIFIC LTD | 1.71% | 0.23% |
| PARK MEDI WORLD LIMITED (PARK HOSPITAL) | 3.17% | 0.13% |
| INNOVA CAPTABS LTD | 1.41% | 0.12% |
| ORCHID PHARMA LIMITED | 1.57% | 0.10% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 55.8% means 55.8% 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 Healthcare Fund
| Security | % of fund |
|---|---|
| MOLBIO DIAGNOSTICS LIMITED | 5.08% |
| PRASOL CHEMICALS LIMITED | 2.24% |
| JUBILANT INGREVIA LTD. | 1.35% |
Largest holdings only in Motilal Oswal BSE Healthcare ETF
| Security | % of fund |
|---|---|
| Dr Reddys Laboratories Limited | 4.73% |
| Glenmark Pharmaceuticals Limited | 2.17% |
| Alkem Laboratories Limited | 1.89% |
| IPCA Laboratories Limited | 1.69% |
| Biocon Limited | 1.63% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Kotak Healthcare | Motilal Oswal BSE Healthcare ETF |
|---|---|---|
| Equity | 98.7% | 99.9% |
| Debt | 0.0% | 0.0% |
| Cash and others | 1.3% | 0.1% |
Market cap of stocks
| Market cap | Kotak Healthcare | Motilal Oswal BSE Healthcare ETF |
|---|---|---|
| Large Cap | 33.4% | 33.3% |
| Mid Cap | 19.6% | 38.5% |
| Small Cap | 38.3% | 27.8% |
| Not on AMFI's list | 7.3% | 0.3% |
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 Healthcare | Motilal Oswal BSE Healthcare ETF |
|---|---|---|
| Pharmaceuticals & Biotechnology | 0.0% | 78.0% |
| Pharmaceuticals and Biotechnology | 69.0% | 0.0% |
| Healthcare Services | 21.1% | 21.4% |
| Healthcare Equipment and Supplies | 5.1% | 0.0% |
| Chemicals and Petrochemicals | 3.6% | 0.0% |
| Healthcare Equipment & Supplies | 0.0% | 0.5% |
The six largest sectors of each fund's stocks, % of the fund.
Kotak Healthcare vs Motilal Oswal BSE Healthcare ETF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Kotak Healthcare Fund | Motilal Oswal BSE Healthcare ETF |
|---|---|---|
| Total expense ratio (Direct) | 1.03% | Not available |
| Base expense ratio (Direct) | 0.72% | 0.00% |
| Total expense ratio (Regular) | 2.55% | Not available |
| Base expense ratio (Regular) | 2.00% | 0.21% |
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 Healthcare Fund vs Motilal Oswal BSE Healthcare ETF: Frequently Asked Questions
What is the difference between Kotak Healthcare Fund and Motilal Oswal BSE Healthcare ETF?
Kotak Healthcare Fund is a Thematic fund, Motilal Oswal BSE Healthcare ETF is an ETF fund, run by Kotak Mahindra Mutual Fund and Motilal Oswal Mutual Fund. Their portfolios overlap 55.8%. Kotak Healthcare Fund charges 1.03% a year and Motilal Oswal BSE Healthcare ETF 0.36%.
Which has given higher returns, Kotak Healthcare Fund or Motilal Oswal BSE Healthcare ETF?
Over 1 year: Kotak Healthcare Fund +23.31%, Motilal Oswal BSE Healthcare ETF +12.16%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Kotak Healthcare Fund or Motilal Oswal BSE Healthcare ETF?
Motilal Oswal BSE Healthcare ETF charges less: 0.36% a year against 1.03%. These are the total expense ratios reported to AMFI.
How much do Kotak Healthcare Fund and Motilal Oswal BSE Healthcare ETF overlap?
55.8%. They hold 32 of the same securities, the largest shared ones being SUNPHARMA, DIVISLAB, MAXHEALTH. From each fund's latest monthly portfolio.
Which is riskier, Kotak Healthcare Fund or Motilal Oswal BSE Healthcare ETF?
On SEBI's riskometer, Kotak Healthcare Fund is rated Very High and Motilal Oswal BSE Healthcare ETF Very High. Over 1 years, the standard deviation of daily returns was 14.36% and 13.58% a year.
Can I invest in both Kotak Healthcare Fund and Motilal Oswal BSE Healthcare ETF?
Yes. 55.8% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Kotak Healthcare Fund and Motilal Oswal BSE Healthcare ETF?
Kotak Healthcare Fund: Dhananjay Tikariha, Abhishek Bisen. Motilal Oswal BSE Healthcare ETF: Swapnil Mayekar, Rakesh Shetty.
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.