Kotak Manufacture In India Fund vs Motilal Oswal Nifty India Manufacturing ETF
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
Kotak Manufacture In India Fund is a Thematic fund and Motilal Oswal Nifty India Manufacturing ETF is an ETF fund. In the year to 30-10-2026, Kotak Manufacture In India Fund (Direct) returned 6.2% and Motilal Oswal Nifty India Manufacturing ETF returned −2.3%. Kotak Manufacture In India Fund charges 0.76% a year and Motilal Oswal Nifty India Manufacturing ETF 0.71%. Their portfolios overlap 38.6%: they hold 22 of the same securities.
Kotak Manufacture In India Fund
Thematic
- 1 year return
- 6.2%
- Expense ratio
- 0.76%
- NAV
- ₹22.21
Motilal Oswal Nifty India Manufacturing ETF
ETF
- 1 year return
- −2.3%
- Expense ratio
- 0.71%
- NAV
- ₹148.70
Which is better, Kotak Manufacture In India or Motilal Oswal Nifty India Manufacturing 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 Manufacture In India returned more over 1 year: 6.2% against −2.3%.
- Motilal Oswal Nifty India Manufacturing ETF costs less: 0.71% a year against 0.76%.
- Kotak Manufacture In India fell less in its worst fall since 28-05-2025: −11.6% against −12.9%.
- Motilal Oswal Nifty India Manufacturing ETF holds more in large companies: 68.9% of the fund in large caps against 38.6%.
- Kotak Manufacture In India is the larger fund: ₹3,132 Cr against ₹2 Cr.
- Their portfolios overlap 38.6%: 22 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 | Motilal Oswal Nifty India Manufacturing ETF |
|---|---|---|
| Fund house | Kotak Mahindra Mutual Fund | Motilal Oswal Mutual Fund |
| Category | Thematic | ETF |
| AUM | ₹3,132 Cr (30-09-2026) | ₹2 Cr (30-09-2026) |
| NAV | ₹22.21 (Direct) | ₹148.70 |
| Expense ratio (Direct) | 0.76% | Not available |
| Expense ratio (Regular) | 2.08% | Not available |
| Riskometer | Very High | Very High |
| Benchmark | Nifty India Manufacturing TRI | Nifty India Manufacturing TRI |
| Launch date | 22-02-2022 | 23-05-2025 |
| Minimum investment | ₹100 | Ongoing Basis: On Exchange: Investors can buy/sell units of the Scheme in round lots of 1 unit and in multiples thereof. Directly with the Mutual Fund: For Eligible investors: Transactions must be in multiple of unit creation size and the execution value |
| Lock in | None | None |
| Fund managers | Harsha Upadhyaya, Abhishek Bisen | Swapnil Mayekar, Dishant Mehta, Rakesh Shetty |
| Exit load | 0.5% for redemption within 90 Days | Nil |
Kotak Manufacture In India vs Motilal Oswal Nifty India Manufacturing 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 Manufacture In India Fund (Direct) | −5.87% | −3.37% | +3.31% | +6.20% | +18.88% | -- | -- |
| Motilal Oswal Nifty India Manufacturing ETF | −3.59% | −7.64% | −3.92% | −2.32% | -- | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | +13.76% | -- | -- |
Category average: the average of the 235 Thematic funds, same plan type.
Kotak Manufacture In India vs Motilal Oswal Nifty India Manufacturing ETF: Year-wise Returns
| Year | Kotak Manufacture In IndiaKotak Manufacture In India | Motilal Oswal Nifty India Manufacturing ETFMotilal Oswal Nifty India Manufacturing ETF | Nifty India Manufacturing TRI |
|---|---|---|---|
| 2026to date | +5.71% | −3.04% | −2.54% |
| 2025 | +9.02% | -- | +12.28% |
| 2024 | +27.83% | -- | +25.99% |
| 2023 | +34.40% | -- | +34.87% |
Kotak Manufacture In India vs Motilal Oswal Nifty India Manufacturing ETF: Rolling Returns
Every holding period of both funds, against Nifty India Manufacturing TRI, the benchmark of both
Rolling returns
Every 1-year holding period, 105 of them, one for each trading day from 29-05-2026 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)
Motilal Oswal Nifty India Manufacturing ETF
Nifty India Manufacturing TRI
to
Jun 2026Jul 2025
to
Jul 2026Aug 2025
to
Aug 2026Aug 2025
to
Aug 2026Sept 2025
to
Sept 2026Oct 2025
to
Oct 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 | 0.0 | 7.6 | 36.2 | 34.3 | 21.0 | 1.0 | 16.1% | 15.3% | 5.9% | 25.5% | 100% |
| Motilal Oswal Nifty India Manufacturing ETF | 8.6 | 14.3 | 22.9 | 40.0 | 14.3 | 0.0 | 0.0 | 9.4% | 10.4% | −4.0% | 19.6% | 0% |
| Nifty India Manufacturing TRI | 5.7 | 14.3 | 18.1 | 45.7 | 15.2 | 1.0 | 0.0 | 10.1% | 11.1% | −3.4% | 20.4% | -- |
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 28-05-2025. Past returns do not promise future returns.
Kotak Manufacture In India vs Motilal Oswal Nifty India Manufacturing 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 02-05-2025 to 30-10-2026: 18 instalments, ₹1,80,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Kotak Manufacture In IndiaKotak Manufacture In India Fund (Direct) | ₹1,80,000 | ₹1,91,705 | ₹11,705 | 8.3% |
| Motilal Oswal Nifty India Manufacturing ETFMotilal Oswal Nifty India Manufacturing ETF | ₹1,80,000 | ₹1,78,094 | −₹1,906 | −1.4% |
Kotak Manufacture In IndiaKotak Manufacture In India Fund (Direct)
Motilal Oswal Nifty India Manufacturing ETFMotilal Oswal Nifty India Manufacturing 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 Manufacture In India vs Motilal Oswal Nifty India Manufacturing ETF: 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) | Motilal Oswal Nifty India Manufacturing ETF |
|---|---|---|
| Return (CAGR) | +6.20% | −2.32% |
| Standard deviation | 15.82% | 16.02% |
| Sharpe ratio | 0.06 | -0.47 |
| Sortino ratio | 0.08 | -0.63 |
| Maximum drawdown | −11.6% (23-03-2026) | −12.9% (23-10-2026) |
| Beta | 0.96 | 1.00 |
| Alpha | +7.63% | −0.64% |
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) | Motilal Oswal Nifty India Manufacturing ETF |
|---|---|---|
| Return (CAGR) | +18.64% | +3.80% |
| Standard deviation | 14.54% | 14.54% |
| Sharpe ratio | 0.87 | -0.10 |
| Sortino ratio | 1.18 | -0.14 |
| Maximum drawdown | −22.3% (28-02-2025) | −12.9% (23-10-2026) |
| Beta | 0.93 | 1.00 |
| Alpha | +3.05% | −0.68% |
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)
Motilal Oswal Nifty India Manufacturing ETF
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) | −11.6% | 26-02-2026 | 23-03-2026 | 06-05-2026 | 44 days | −8.5% |
| Motilal Oswal Nifty India Manufacturing ETF | −12.9% | 07-08-2026 | 23-10-2026 | Not yet | -- | −10.6% |
| Nifty India Manufacturing TRI | −12.8% | 07-08-2026 | 23-10-2026 | Not yet | -- | −10.5% |
From daily values since 28-05-2025, 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)
Motilal Oswal Nifty India Manufacturing ETF
Nifty India Manufacturing TRI
Against Nifty India Manufacturing TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Kotak Manufacture In India Fund (Direct) | 111% | 84% | 5.44% |
| Motilal Oswal Nifty India Manufacturing ETF | 97% | 100% | 0.14% |
From month-end values since 28-05-2025. 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 Motilal Oswal Nifty India Manufacturing ETF: Portfolio Overlap
From each fund's latest monthly portfolio: Kotak Manufacture In India Fund, September 2026; Motilal Oswal Nifty India Manufacturing ETF, September 2026
Holdings in common
- Overlap
- 38.6%
- Held by both
- 22
- Only in Kotak Manufacture In India
- 38
- Only in Motilal Oswal Nifty India Manufacturing ETF
- 55
| Security | % of Kotak Manufacture In India | % of Motilal Oswal Nifty India Manufacturing ETF |
|---|---|---|
| SUN PHARMACEUTICAL INDUSTRIES LTD. | 4.35% | 4.58% |
| Mahindra & Mahindra Ltd. | 3.53% | 4.97% |
| Tata Steel Ltd. | 3.41% | 3.64% |
| RELIANCE INDUSTRIES LTD. | 2.84% | 4.95% |
| Divis Laboratories Ltd. | 3.71% | 2.80% |
| Bharat Electronics Ltd. | 2.51% | 3.31% |
| Maruti Suzuki India Limited | 2.48% | 3.72% |
| Hindalco Industries Ltd. | 2.41% | 3.25% |
| TVS Motor Company Ltd. | 3.28% | 2.30% |
| Eicher Motors Ltd. | 1.71% | 2.34% |
| Dixon Technologies India Ltd | 2.09% | 1.29% |
| Solar Industries India Limited | 1.67% | 1.12% |
| BHARAT PETROLEUM CORPORATION LTD. | 1.06% | 1.45% |
| Ashok Leyland Ltd. | 1.48% | 1.05% |
| Bosch Limited | 1.50% | 0.98% |
| Jindal Steel & Power Ltd | 0.91% | 1.00% |
| ABB India Ltd. | 1.08% | 0.84% |
| TML COMMERCIAL VEHICLES LIMITED | 0.81% | 2.10% |
| SRF LTD. | 0.79% | 0.86% |
| KEI Industries Ltd. | 1.14% | 0.65% |
| Page Industries Ltd | 1.34% | 0.57% |
| ANTHEM BIOSCIENCES LTD | 1.18% | 0.22% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 38.6% means 38.6% 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% |
| INDO-MIM LTD | 3.27% |
| DEE DEVELOPMENT ENGINEEERS LTD | 2.92% |
| Hero MotoCorp Ltd. | 2.68% |
| Graphite India Limited. | 2.44% |
Largest holdings only in Motilal Oswal Nifty India Manufacturing ETF
| Security | % of fund |
|---|---|
| JSW Steel Limited | 2.87% |
| Bajaj Auto Limited | 2.82% |
| Hindustan Aeronautics Limited | 2.11% |
| Laurus Labs Limited | 1.84% |
| Cipla Limited | 1.80% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Kotak Manufacture In India | Motilal Oswal Nifty India Manufacturing ETF |
|---|---|---|
| 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 | Motilal Oswal Nifty India Manufacturing ETF |
|---|---|---|
| Large Cap | 38.6% | 68.9% |
| Mid Cap | 18.6% | 27.6% |
| Small Cap | 31.1% | 3.2% |
| Not on AMFI's list | 7.5% | 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 Manufacture In India | Motilal Oswal Nifty India Manufacturing ETF |
|---|---|---|
| Pharmaceuticals & Biotechnology | 0.0% | 18.4% |
| Automobiles | 13.7% | 18.2% |
| Pharmaceuticals and Biotechnology | 17.8% | 0.0% |
| Industrial Manufacturing | 11.0% | 0.9% |
| Industrial Products | 7.9% | 6.3% |
| Petroleum Products | 5.1% | 7.6% |
| Ferrous Metals | 4.3% | 7.5% |
| Auto Components | 6.4% | 7.0% |
| Electrical Equipment | 4.8% | 7.0% |
| Aerospace and Defense | 5.7% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
Kotak Manufacture In India vs Motilal Oswal Nifty India Manufacturing ETF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Kotak Manufacture In India Fund | Motilal Oswal Nifty India Manufacturing ETF |
|---|---|---|
| Total expense ratio (Direct) | 0.76% | Not available |
| Base expense ratio (Direct) | 0.56% | 0.00% |
| Total expense ratio (Regular) | 2.08% | Not available |
| Base expense ratio (Regular) | 1.67% | 0.45% |
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 Motilal Oswal Nifty India Manufacturing ETF: Frequently Asked Questions
What is the difference between Kotak Manufacture In India Fund and Motilal Oswal Nifty India Manufacturing ETF?
Kotak Manufacture In India Fund is a Thematic fund, Motilal Oswal Nifty India Manufacturing ETF is an ETF fund, run by Kotak Mahindra Mutual Fund and Motilal Oswal Mutual Fund. Their portfolios overlap 38.6%. Kotak Manufacture In India Fund charges 0.76% a year and Motilal Oswal Nifty India Manufacturing ETF 0.71%.
Which has given higher returns, Kotak Manufacture In India Fund or Motilal Oswal Nifty India Manufacturing ETF?
Over 1 year: Kotak Manufacture In India Fund +6.20%, Motilal Oswal Nifty India Manufacturing ETF −2.32%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Kotak Manufacture In India Fund or Motilal Oswal Nifty India Manufacturing ETF?
Motilal Oswal Nifty India Manufacturing ETF charges less: 0.71% a year against 0.76%. These are the total expense ratios reported to AMFI.
How much do Kotak Manufacture In India Fund and Motilal Oswal Nifty India Manufacturing ETF overlap?
38.6%. They hold 22 of the same securities, the largest shared ones being SUNPHARMA, M&M, TATASTEEL. From each fund's latest monthly portfolio.
Which is riskier, Kotak Manufacture In India Fund or Motilal Oswal Nifty India Manufacturing ETF?
On SEBI's riskometer, Kotak Manufacture In India Fund is rated Very High and Motilal Oswal Nifty India Manufacturing ETF Very High. Over 1 years, the standard deviation of daily returns was 15.82% and 16.02% a year.
Can I invest in both Kotak Manufacture In India Fund and Motilal Oswal Nifty India Manufacturing ETF?
Yes. 38.6% 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 Motilal Oswal Nifty India Manufacturing ETF?
Kotak Manufacture In India Fund: Harsha Upadhyaya, Abhishek Bisen. Motilal Oswal Nifty India Manufacturing ETF: Swapnil Mayekar, Dishant Mehta, 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.