Kotak Liquid Fund vs Sundaram Liquid Fund
Direct Plan, Growth option · Data as on 30-10-2026
Kotak Liquid Fund and Sundaram Liquid Fund are both Liquid funds. In the 3 years to 30-10-2026, Kotak Liquid Fund (Direct) returned 6.9% a year and Sundaram Liquid Fund (Direct) returned 7.0% a year. Kotak Liquid Fund charges 0.15% a year and Sundaram Liquid Fund 0.14% (Direct plans). Their portfolios overlap 15.6%: they hold 17 of the same securities.
Which is better, Kotak Liquid or Sundaram Liquid? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Sundaram Liquid returned more over 3 years: 7.0% a year against 6.9%.
- Sundaram Liquid returned more over 1 year: 6.5% against 6.4%.
- Sundaram Liquid costs less: 0.14% a year against 0.15% (Direct plans).
- Sundaram Liquid swung less over 3 years: a standard deviation of 0.2% a year against 0.2%.
- Sundaram Liquid fell less in its worst fall since 01-01-2022: −0.0% against −0.0%.
- Kotak Liquid is the larger fund: ₹42,047 Cr against ₹6,727 Cr.
- Their portfolios overlap 15.6%: 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 Liquid Fund | Sundaram Liquid Fund |
|---|---|---|
| Fund house | Kotak Mahindra Mutual Fund | Sundaram Mutual Fund |
| Category | Liquid | Liquid |
| AUM | ₹42,047 Cr (30-09-2026) | ₹6,727 Cr (30-09-2026) |
| NAV | ₹5,780.47 (Direct) | ₹2,530.14 (Direct) |
| Expense ratio (Direct) | 0.15% | 0.14% |
| Expense ratio (Regular) | 0.33% | 0.36% |
| Riskometer | Moderate | Moderate |
| Benchmark | NIFTY Liquid Index A-I | NIFTY Liquid Index A-I |
| Launch date | 04-11-2003 | 01-01-2013 |
| Minimum investment | ₹1,000 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Deepak Agrawal, Sunil Pandey | Sandeep Agarwal, Kumaresh Ramakrishnan, Ronak Shah |
| Exit load | NIL | Exit load of 0.0070% if redeemed within 1 day, 0.0065% if redeemed within 2 days, 0.0060% if redeemed within 3 days, 0.0055% if redeemed within 4 days, 0.0050% if redeemed within 5 days, 0.0045% if redeemed within 6 days. |
Kotak Liquid vs Sundaram Liquid: 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 Liquid Fund (Direct) | +0.44% | +1.49% | +3.18% | +6.44% | +6.90% | +6.40% | +6.07% |
| Sundaram Liquid Fund (Direct) | +0.45% | +1.49% | +3.26% | +6.53% | +6.95% | -- | -- |
| Liquid average | +0.44% | +1.46% | +3.06% | +6.23% | +6.66% | -- | -- |
Category average: the average of the 44 Liquid funds, same plan type.
Kotak Liquid vs Sundaram Liquid: Year-wise Returns
| Year | KotakKotak Liquid | SundaramSundaram Liquid |
|---|---|---|
| 2026to date | +5.38% | +5.47% |
| 2025 | +6.61% | +6.63% |
| 2024 | +7.42% | +7.47% |
| 2023 | +7.08% | +7.10% |
| 2022 | +4.87% | -- |
| 2021 | +3.35% | -- |
Kotak Liquid vs Sundaram Liquid: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 662 of them, one for each trading day from 02-01-2025 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 Liquid Fund (Direct)
Sundaram Liquid Fund (Direct)
to
Feb 2025Jun 2022
to
Jun 2025Oct 2022
to
Oct 2025Jan 2023
to
Jan 2026May 2023
to
May 2026Sept 2023
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Kotak Liquid | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 6.9% | 7.0% | 6.5% | 7.1% |
| Sundaram Liquid | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7.0% | 7.0% | 6.5% | 7.1% |
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 01-01-2022. Past returns do not promise future returns.
Kotak Liquid vs Sundaram Liquid: 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 02-01-2022 to 30-10-2026: 58 instalments, ₹5,80,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Kotak LiquidKotak Liquid Fund (Direct) | ₹5,80,000 | ₹6,83,663 | ₹1,03,663 | 6.8% |
| Sundaram LiquidSundaram Liquid Fund (Direct) | ₹5,80,000 | ₹6,84,608 | ₹1,04,608 | 6.8% |
Kotak LiquidKotak Liquid Fund (Direct)
Sundaram LiquidSundaram Liquid 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 Liquid vs Sundaram Liquid: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Kotak Liquid Fund (Direct) | Sundaram Liquid Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.44% | +6.53% |
| Standard deviation | 0.20% | 0.21% |
| Sharpe ratio | 6.03 | 6.17 |
| Sortino ratio | 16.71 | 19.24 |
| Maximum drawdown | −0.0% (22-10-2026) | −0.0% (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 Liquid Fund (Direct) | Sundaram Liquid Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.90% | +6.95% |
| Standard deviation | 0.18% | 0.15% |
| Sharpe ratio | 4.90 | 6.03 |
| Sortino ratio | 15.07 | 18.56 |
| Maximum drawdown | −0.0% (22-10-2026) | −0.0% (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 Liquid Fund (Direct) | Sundaram Liquid Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.79% | +6.56% |
| Standard deviation | 0.24% | 0.14% |
| Sharpe ratio | 3.07 | 4.78 |
| Sortino ratio | 5.96 | 11.33 |
| Maximum drawdown | −0.3% (24-03-2020) | −0.0% (05-05-2022) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 01-01-2013 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 Liquid Fund (Direct)
Sundaram Liquid Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Kotak Liquid Fund (Direct) | −0.0% | 03-05-2022 | 05-05-2022 | 08-05-2022 | 3 days | 0.0% |
| Sundaram Liquid Fund (Direct) | −0.0% | 03-05-2022 | 05-05-2022 | 07-05-2022 | 2 days | 0.0% |
From daily values since 01-01-2022, 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 Liquid Fund (Direct)
Sundaram Liquid 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 Liquid Fund (Direct)
Sundaram Liquid Fund (Direct)
Kotak Liquid vs Sundaram Liquid: Portfolio Overlap
From each fund's latest monthly portfolio: Kotak Liquid Fund, September 2026; Sundaram Liquid Fund, September 2026
Holdings in common
- Overlap
- 15.6%
- Held by both
- 17
- Only in Kotak Liquid
- 118
- Only in Sundaram Liquid
- 43
| Security | % of Kotak Liquid | % of Sundaram Liquid |
|---|---|---|
| 91 DAYS TREASURY BILL 22/10/2026 | 2.37% | 3.41% |
| BANK OF INDIA | 2.35% | 4.41% |
| HDFC BANK LTD. | 2.36% | 1.48% |
| HINDUSTAN PETROLEUM CORPORATION LTD. | 1.47% | 2.94% |
| CANARA BANK | 1.18% | 1.47% |
| CENTRAL BANK OF INDIA | 1.18% | 1.47% |
| PUNJAB NATIONAL BANK | 1.19% | 0.74% |
| UNION BANK OF INDIA | 1.19% | 0.74% |
| NATIONAL BANK FOR AGRICULTURE & RURAL DEVELOPMENT | 4.13% | 0.74% |
| AXIS BANK LTD. | 0.59% | 1.47% |
| NATIONAL BANK FOR AGRICULTURE & RURAL DEVELOPMENT | 0.59% | 1.47% |
| REC LTD | 0.47% | 0.74% |
| REC LTD | 0.47% | 2.95% |
| Reliance Retail Ventures Ltd | 0.47% | 1.47% |
| MUTHOOT FINCORP LTD. | 0.29% | 1.10% |
| SBI ALTERNATIVE INVESTMENT FUND | 0.27% | 0.27% |
| PILANI INVESTMENT AND INDUSTRIES CORPORATION LTD | 0.23% | 1.47% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 15.6% means 15.6% 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 Liquid Fund
| Security | % of fund |
|---|---|
| 91 DAYS TREASURY BILL 12/11/2026 | 3.55% |
| 91 DAYS TREASURY BILL 27/11/2026 | 3.43% |
| Reliance Retail Ventures Ltd | 2.96% |
| 91 DAYS TREASURY BILL 03/12/2026 | 2.95% |
| 91 DAYS TREASURY BILL 08/10/2026 | 2.38% |
Largest holdings only in Sundaram Liquid Fund
| Security | % of fund |
|---|---|
| 91 Days - T Bill - 05/11/2026 | 5.62% |
| Export Import Bank of India - 04/11/2026 | 4.43% |
| Central Bank of India - 04/12/2026 | 4.41% |
| Tata Capital Housing Finance Ltd - 23/11/2026 | 2.95% |
| Canara Bank - 03/12/2026 | 2.94% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Kotak Liquid | Sundaram Liquid |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 111.1% | 96.1% |
| Cash and others | -11.1% | 3.9% |
Kotak Liquid vs Sundaram Liquid: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Kotak Liquid Fund | Sundaram Liquid Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.15% | 0.14% |
| Base expense ratio (Direct) | 0.13% | 0.12% |
| Total expense ratio (Regular) | 0.33% | 0.36% |
| Base expense ratio (Regular) | 0.28% | 0.31% |
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 Liquid with
Kotak Liquid Fund vs Sundaram Liquid Fund: Frequently Asked Questions
What is the difference between Kotak Liquid Fund and Sundaram Liquid Fund?
Both are Liquid funds, run by Kotak Mahindra Mutual Fund and Sundaram Mutual Fund. Their portfolios overlap 15.6%. Kotak Liquid Fund charges 0.15% a year and Sundaram Liquid Fund 0.14%.
Which has given higher returns, Kotak Liquid Fund or Sundaram Liquid Fund?
Over 1 year: Kotak Liquid Fund +6.44%, Sundaram Liquid Fund +6.53%. Over 3 years: Kotak Liquid Fund +6.90% a year, Sundaram Liquid Fund +6.95% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Kotak Liquid Fund or Sundaram Liquid Fund?
Sundaram Liquid Fund charges less: 0.14% a year against 0.15%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Kotak Liquid Fund and Sundaram Liquid Fund overlap?
15.6%. They hold 17 of the same securities, the largest shared ones being 91 DAYS TREASURY BILL 22/10/2026, BANK OF INDIA, HDFC BANK LTD.. From each fund's latest monthly portfolio.
Which is riskier, Kotak Liquid Fund or Sundaram Liquid Fund?
On SEBI's riskometer, Kotak Liquid Fund is rated Moderate and Sundaram Liquid Fund Moderate. Over 3 years, the standard deviation of daily returns was 0.18% and 0.15% a year.
Which is better for SIP, Kotak Liquid Fund or Sundaram Liquid Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 02-10-2023 to 30-10-2026 grew to ₹4,10,315 in Kotak Liquid Fund (XIRR 6.7% a year) and ₹4,10,738 in Sundaram Liquid Fund (XIRR 6.7% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both Kotak Liquid Fund and Sundaram Liquid Fund?
Yes. 15.6% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Kotak Liquid Fund and Sundaram Liquid Fund?
Kotak Liquid Fund: Deepak Agrawal, Sunil Pandey. Sundaram Liquid Fund: Sandeep Agarwal, Kumaresh Ramakrishnan, Ronak Shah.
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.