Kotak Manufacture In India Fund vs Kotak MNC Fund
Direct Plan, Growth option · Data as on 30-10-2026
Kotak Manufacture In India Fund is a Thematic fund and Kotak MNC Fund is a Thematic fund. In the year to 30-10-2026, Kotak Manufacture In India Fund (Direct) returned 6.2% and Kotak MNC Fund (Direct) returned 9.3%. Kotak Manufacture In India Fund charges 0.76% a year and Kotak MNC Fund 0.90% (Direct plans). Their portfolios overlap 25.6%: they hold 15 of the same securities.
Kotak Manufacture In India Fund
Thematic
- 1 year return
- 6.2%
- Expense ratio
- 0.76%
- NAV
- ₹22.21
Which is better, Kotak Manufacture In India or Kotak MNC? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Kotak MNC returned more over 1 year: 9.3% against 6.2%.
- Kotak Manufacture In India costs less: 0.76% a year against 0.90% (Direct plans).
- Kotak MNC fell less in its worst fall since 31-10-2024: −16.5% against −18.3%.
- Kotak Manufacture In India is the larger fund: ₹3,132 Cr against ₹2,246 Cr.
- Their portfolios overlap 25.6%: 15 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 Manufacture In India Fund | Kotak MNC Fund |
|---|---|---|
| Fund house | Kotak Mahindra Mutual Fund | Kotak Mahindra Mutual Fund |
| Category | Thematic | Thematic |
| AUM | ₹3,132 Cr (30-09-2026) | ₹2,246 Cr (30-09-2026) |
| NAV | ₹22.21 (Direct) | ₹11.89 (Direct) |
| Expense ratio (Direct) | 0.76% | 0.90% |
| Expense ratio (Regular) | 2.08% | 2.29% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty India Manufacturing TRI | Nifty MNC TRI |
| Launch date | 22-02-2022 | 28-10-2024 |
| Minimum investment | ₹100 | ₹100 |
| Lock in | None | None |
| Fund managers | Harsha Upadhyaya, Abhishek Bisen | Harsha Upadhyaya, Dhananjay Thikaria, Abhishek Bisen |
| Exit load | 0.5% for redemption within 90 Days | 0.5% for redemption within 90 Days |
Kotak Manufacture In India vs Kotak MNC: 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 Manufacture In India Fund (Direct) | −5.87% | −3.37% | +3.31% | +6.20% | +18.88% | -- | -- |
| Kotak MNC Fund (Direct) | −5.79% | −4.76% | +0.71% | +9.29% | -- | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | -- | -- | -- |
Category average: the average of the 235 Thematic funds, same plan type.
Kotak Manufacture In India vs Kotak MNC: Year-wise Returns
| Year | Manufacture In IndiaKotak Manufacture In India | MNCKotak MNC |
|---|---|---|
| 2026to date | +5.71% | +8.73% |
| 2025 | +9.02% | +8.05% |
| 2024 | +27.83% | -- |
| 2023 | +34.40% | -- |
Kotak Manufacture In India vs Kotak MNC: Rolling Returns
Every holding period of both funds, against Nifty India Manufacturing TRI, the benchmark of Kotak Manufacture In India Fund
Rolling returns
Every 1-year holding period, 245 of them, one for each trading day from 31-10-2025 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 Manufacture In India Fund (Direct)
Kotak MNC Fund (Direct)
Nifty India Manufacturing TRI
to
Nov 2025Jan 2025
to
Jan 2026Apr 2025
to
Apr 2026Jun 2025
to
Jun 2026Aug 2025
to
Aug 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 Manufacture In India | 0.0 | 2.0 | 18.4 | 29.8 | 25.7 | 17.1 | 6.9 | 15.4% | 14.9% | 3.4% | 32.3% | 78% |
| Kotak MNC | 0.0 | 3.7 | 21.6 | 8.2 | 14.3 | 35.5 | 16.7 | 18.0% | 20.7% | 2.4% | 30.0% | 68% |
| Nifty India Manufacturing TRI | 2.4 | 7.8 | 18.8 | 40.0 | 19.2 | 9.0 | 2.9 | 12.7% | 12.3% | −3.4% | 29.7% | -- |
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 India Manufacturing 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 31-10-2024. Past returns do not promise future returns.
Kotak Manufacture In India vs Kotak MNC: 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 01-10-2024 to 30-10-2026: 25 instalments, ₹2,50,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Kotak Manufacture In IndiaKotak Manufacture In India Fund (Direct) | ₹2,50,000 | ₹2,76,029 | ₹26,029 | 9.5% |
| Kotak MNCKotak MNC Fund (Direct) | ₹2,50,000 | ₹2,80,415 | ₹30,415 | 11.1% |
Kotak Manufacture In IndiaKotak Manufacture In India Fund (Direct)
Kotak MNCKotak MNC 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 Manufacture In India vs Kotak MNC: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Kotak Manufacture In India Fund (Direct) | Kotak MNC Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.20% | +9.29% |
| Standard deviation | 15.82% | 16.05% |
| Sharpe ratio | 0.06 | 0.25 |
| Sortino ratio | 0.08 | 0.34 |
| Maximum drawdown | −11.6% (23-03-2026) | −12.3% (23-10-2026) |
| Beta | 0.96 | 0.96 |
| Alpha | +7.63% | +13.89% |
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 Manufacture In India Fund (Direct) | Kotak MNC Fund (Direct) |
|---|---|---|
| Return (CAGR) | +18.64% | +8.97% |
| Standard deviation | 14.54% | 14.20% |
| Sharpe ratio | 0.87 | 0.23 |
| Sortino ratio | 1.18 | 0.32 |
| Maximum drawdown | −22.3% (28-02-2025) | −16.5% (07-04-2025) |
| Beta | 0.93 | 0.91 |
| Alpha | +3.05% | +8.50% |
From daily NAVs, 02-03-2022 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 Manufacture In India Fund (Direct)
Kotak MNC Fund (Direct)
Nifty India Manufacturing TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Kotak Manufacture In India Fund (Direct) | −18.3% | 11-12-2024 | 28-02-2025 | 27-06-2025 | 4 months | −8.5% |
| Kotak MNC Fund (Direct) | −16.5% | 05-12-2024 | 07-04-2025 | 16-07-2025 | 3 months | −9.1% |
| Nifty India Manufacturing TRI | −16.4% | 06-11-2024 | 07-04-2025 | 27-06-2025 | 3 months | −10.5% |
From daily values since 31-10-2024, 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 Manufacture In India Fund (Direct)
Kotak MNC Fund (Direct)
Nifty India Manufacturing TRI
Against Nifty India Manufacturing TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Kotak Manufacture In India Fund (Direct) | 112% | 92% | 6.04% |
| Kotak MNC Fund (Direct) | 107% | 81% | 7.15% |
From month-end values since 31-10-2024. 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 Manufacture In India vs Kotak MNC: Portfolio Overlap
From each fund's latest monthly portfolio: Kotak Manufacture In India Fund, September 2026; Kotak MNC Fund, September 2026
Holdings in common
- Overlap
- 25.6%
- Held by both
- 15
- Only in Kotak Manufacture In India
- 45
- Only in Kotak MNC
- 30
| Security | % of Kotak Manufacture In India | % of Kotak MNC |
|---|---|---|
| INDO-MIM LTD | 3.27% | 4.70% |
| SUN PHARMACEUTICAL INDUSTRIES LTD. | 4.35% | 3.23% |
| Divis Laboratories Ltd. | 3.71% | 2.98% |
| Maruti Suzuki India Limited | 2.48% | 3.20% |
| ROSSELL TECHSYS LTD. | 1.63% | 2.28% |
| AXISCADES TECHNOLOGIES LTD | 1.60% | 2.48% |
| Ashok Leyland Ltd. | 1.48% | 2.75% |
| Britannia Industries Ltd. | 1.39% | 3.23% |
| VIYASH SCIENTIFIC LTD | 1.57% | 1.30% |
| Hindalco Industries Ltd. | 2.41% | 1.26% |
| ANTHEM BIOSCIENCES LTD | 1.18% | 1.19% |
| TENNECO CLEAN AIR INDIA LIMITED | 1.16% | 1.89% |
| Schaeffler India Ltd | 1.12% | 2.03% |
| ABB India Ltd. | 1.08% | 1.55% |
| GARWARE TECHNICAL FIBRES LTD. | 0.45% | 1.37% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 25.6% means 25.6% 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 Manufacture In India Fund
| Security | % of fund |
|---|---|
| RUBICON RESEARCH LIMITED | 4.31% |
| Mahindra & Mahindra Ltd. | 3.53% |
| Tata Steel Ltd. | 3.41% |
| TVS Motor Company Ltd. | 3.28% |
| DEE DEVELOPMENT ENGINEEERS LTD | 2.92% |
Largest holdings only in Kotak MNC Fund
| Security | % of fund |
|---|---|
| MTAR TECHNOLOGIES LIMITED | 4.86% |
| Ami Organics Ltd | 4.38% |
| AZAD ENGINEERING LTD | 4.35% |
| GE VERNOVA T&D INDIA LIMITED | 3.37% |
| Hindustan Unilever Ltd. | 3.35% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Kotak Manufacture In India | Kotak MNC |
|---|---|---|
| Equity | 95.9% | 99.6% |
| Debt | 0.0% | 0.0% |
| Cash and others | 4.1% | 0.4% |
Market cap of stocks
| Market cap | Kotak Manufacture In India | Kotak MNC |
|---|---|---|
| Large Cap | 38.6% | 33.5% |
| Mid Cap | 18.6% | 22.2% |
| Small Cap | 31.1% | 37.9% |
| Not on AMFI's list | 7.5% | 6.0% |
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 Manufacture In India | Kotak MNC |
|---|---|---|
| Pharmaceuticals and Biotechnology | 17.8% | 18.1% |
| Electrical Equipment | 4.8% | 16.0% |
| Automobiles | 13.7% | 5.9% |
| Auto Components | 6.4% | 11.2% |
| Industrial Manufacturing | 11.0% | 4.7% |
| Industrial Products | 7.9% | 3.7% |
| Food Products | 2.6% | 6.4% |
| Aerospace and Defense | 5.7% | 4.8% |
The six largest sectors of each fund's stocks, % of the fund.
Kotak Manufacture In India vs Kotak MNC: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Kotak Manufacture In India Fund | Kotak MNC Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.76% | 0.90% |
| Base expense ratio (Direct) | 0.56% | 0.57% |
| Total expense ratio (Regular) | 2.08% | 2.29% |
| Base expense ratio (Regular) | 1.67% | 1.74% |
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 Manufacture In India with
Kotak Manufacture In India Fund vs Kotak MNC Fund: Frequently Asked Questions
What is the difference between Kotak Manufacture In India Fund and Kotak MNC Fund?
Kotak Manufacture In India Fund is a Thematic fund, Kotak MNC Fund is a Thematic fund, run by Kotak Mahindra Mutual Fund. Their portfolios overlap 25.6%. Kotak Manufacture In India Fund charges 0.76% a year and Kotak MNC Fund 0.90%.
Which has given higher returns, Kotak Manufacture In India Fund or Kotak MNC Fund?
Over 1 year: Kotak Manufacture In India Fund +6.20%, Kotak MNC Fund +9.29%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Kotak Manufacture In India Fund or Kotak MNC Fund?
Kotak Manufacture In India Fund charges less: 0.76% a year against 0.90%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Kotak Manufacture In India Fund and Kotak MNC Fund overlap?
25.6%. They hold 15 of the same securities, the largest shared ones being INDOMIM, SUNPHARMA, DIVISLAB. From each fund's latest monthly portfolio.
Which is riskier, Kotak Manufacture In India Fund or Kotak MNC Fund?
On SEBI's riskometer, Kotak Manufacture In India Fund is rated Very High and Kotak MNC Fund Very High. Over 1 years, the standard deviation of daily returns was 15.82% and 16.05% a year.
Can I invest in both Kotak Manufacture In India Fund and Kotak MNC Fund?
Yes. 25.6% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Kotak Manufacture In India Fund and Kotak MNC Fund?
Kotak Manufacture In India Fund: Harsha Upadhyaya, Abhishek Bisen. Kotak MNC Fund: Harsha Upadhyaya, Dhananjay Thikaria, Abhishek Bisen.
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.