Kotak MNC Fund vs Kotak Special Opportunities Fund
Direct Plan, Growth option · Data as on 30-10-2026
Kotak MNC Fund is a Thematic fund and Kotak Special Opportunities Fund is a Thematic fund. In the year to 30-10-2026, Kotak MNC Fund (Direct) returned 9.3% and Kotak Special Opportunities Fund (Direct) returned 6.1%. Kotak MNC Fund charges 0.90% a year and Kotak Special Opportunities Fund 1.04% (Direct plans). Their portfolios overlap 22.0%: they hold 11 of the same securities.
Kotak Special Opportunities Fund
Thematic
- 1 year return
- 6.1%
- Expense ratio
- 1.04%
- NAV
- ₹10.77
Which is better, Kotak MNC or Kotak Special Opportunities? 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 6.1%.
- Kotak MNC costs less: 0.90% a year against 1.04% (Direct plans).
- Kotak MNC fell less in its worst fall since 31-10-2024: −16.5% against −20.4%.
- Kotak MNC holds more in large companies: 33.5% of the fund in large caps against 12.6%.
- Kotak MNC is the larger fund: ₹2,246 Cr against ₹1,920 Cr.
- Their portfolios overlap 22.0%: 11 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 MNC Fund | Kotak Special Opportunities Fund |
|---|---|---|
| Fund house | Kotak Mahindra Mutual Fund | Kotak Mahindra Mutual Fund |
| Category | Thematic | Thematic |
| AUM | ₹2,246 Cr (30-09-2026) | ₹1,920 Cr (30-09-2026) |
| NAV | ₹11.89 (Direct) | ₹10.77 (Direct) |
| Expense ratio (Direct) | 0.90% | 1.04% |
| Expense ratio (Regular) | 2.29% | 2.31% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty MNC TRI | Nifty 500 TRI |
| Launch date | 28-10-2024 | 01-07-2024 |
| Minimum investment | ₹100 | Rs. 100/- and any amount thereafter |
| Lock in | None | None |
| Fund managers | Harsha Upadhyaya, Dhananjay Thikaria, Abhishek Bisen | Devender Singhal, Abhishek Bisen |
| Exit load | 0.5% for redemption within 90 Days | 0.5% for redemption within 90 Days |
Kotak MNC vs Kotak Special Opportunities: 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 MNC Fund (Direct) | −5.79% | −4.76% | +0.71% | +9.29% | -- | -- | -- |
| Kotak Special Opportunities Fund (Direct) | −7.39% | −3.46% | +4.82% | +6.08% | -- | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | -- | -- | -- |
Category average: the average of the 235 Thematic funds, same plan type.
Kotak MNC vs Kotak Special Opportunities: Year-wise Returns
| Year | MNCKotak MNC | Special OpportunitiesKotak Special Opportunities |
|---|---|---|
| 2026to date | +8.73% | +4.98% |
| 2025 | +8.05% | +2.35% |
Kotak MNC vs Kotak Special Opportunities: Rolling Returns
Every holding period of both funds, against Nifty MNC TRI, the benchmark of Kotak MNC 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 MNC Fund (Direct)
Kotak Special Opportunities Fund (Direct)
Nifty MNC 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 MNC | 0.0 | 3.7 | 21.6 | 8.2 | 14.3 | 35.5 | 16.7 | 18.0% | 20.7% | 2.4% | 30.0% | 77% |
| Kotak Special Opportunities | 7.8 | 22.9 | 16.3 | 28.6 | 14.7 | 9.8 | 0.0 | 10.0% | 10.7% | −3.5% | 23.9% | 30% |
| Nifty MNC TRI | 3.3 | 14.7 | 15.9 | 28.2 | 24.1 | 12.2 | 1.6 | 12.4% | 13.3% | −7.0% | 27.2% | -- |
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 MNC 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 MNC vs Kotak Special Opportunities: 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 31-10-2024 to 30-10-2026: 25 instalments, ₹2,50,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Kotak MNCKotak MNC Fund (Direct) | ₹2,50,000 | ₹2,80,415 | ₹30,415 | 11.1% |
| Kotak Special OpportunitiesKotak Special Opportunities Fund (Direct) | ₹2,50,000 | ₹2,71,742 | ₹21,742 | 7.9% |
Kotak MNCKotak MNC Fund (Direct)
Kotak Special OpportunitiesKotak Special Opportunities 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 MNC vs Kotak Special Opportunities: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Kotak MNC Fund (Direct) | Kotak Special Opportunities Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.29% | +6.08% |
| Standard deviation | 16.05% | 18.55% |
| Sharpe ratio | 0.25 | 0.04 |
| Sortino ratio | 0.34 | 0.06 |
| Maximum drawdown | −12.3% (23-10-2026) | −15.8% (23-03-2026) |
| Beta | 0.96 | 1.12 |
| Alpha | +13.89% | +14.99% |
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 MNC Fund (Direct) | Kotak Special Opportunities Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.97% | +3.15% |
| Standard deviation | 14.20% | 16.55% |
| Sharpe ratio | 0.23 | -0.16 |
| Sortino ratio | 0.32 | -0.21 |
| Maximum drawdown | −16.5% (07-04-2025) | −23.1% (03-03-2025) |
| Beta | 0.91 | 1.05 |
| Alpha | +8.50% | +4.61% |
From daily NAVs, 31-10-2024 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 MNC Fund (Direct)
Kotak Special Opportunities Fund (Direct)
Nifty MNC TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Kotak MNC Fund (Direct) | −16.5% | 05-12-2024 | 07-04-2025 | 16-07-2025 | 3 months | −9.1% |
| Kotak Special Opportunities Fund (Direct) | −20.4% | 06-12-2024 | 03-03-2025 | 06-05-2026 | 14 months | −10.6% |
| Nifty MNC TRI | −17.9% | 10-08-2026 | 23-10-2026 | Not yet | -- | −16.0% |
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 MNC Fund (Direct)
Kotak Special Opportunities Fund (Direct)
Nifty MNC TRI
Against Nifty MNC TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Kotak MNC Fund (Direct) | 118% | 78% | 6.78% |
| Kotak Special Opportunities Fund (Direct) | 129% | 111% | 10.76% |
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 MNC vs Kotak Special Opportunities: Portfolio Overlap
From each fund's latest monthly portfolio: Kotak MNC Fund, September 2026; Kotak Special Opportunities Fund, September 2026
Holdings in common
- Overlap
- 22.0%
- Held by both
- 11
- Only in Kotak MNC
- 34
- Only in Kotak Special Opportunities
- 35
| Security | % of Kotak MNC | % of Kotak Special Opportunities |
|---|---|---|
| Maruti Suzuki India Limited | 3.20% | 3.93% |
| MTAR TECHNOLOGIES LIMITED | 4.86% | 2.84% |
| AZAD ENGINEERING LTD | 4.35% | 2.78% |
| INDO-MIM LTD | 4.70% | 2.63% |
| Marksans Pharma Ltd | 2.87% | 2.57% |
| SUN PHARMACEUTICAL INDUSTRIES LTD. | 3.23% | 1.94% |
| Oracle Financial Services Software Ltd | 3.31% | 1.80% |
| VIYASH SCIENTIFIC LTD | 1.30% | 2.17% |
| ORCHID PHARMA LIMITED | 1.15% | 2.53% |
| MIDWEST LTD | 0.94% | 2.02% |
| INDUSIND BANK LTD. | 0.88% | 2.44% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 22.0% means 22.0% 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 MNC Fund
| Security | % of fund |
|---|---|
| Ami Organics Ltd | 4.38% |
| GE VERNOVA T&D INDIA LIMITED | 3.37% |
| Hindustan Unilever Ltd. | 3.35% |
| Britannia Industries Ltd. | 3.23% |
| Nestle India Ltd. | 3.21% |
Largest holdings only in Kotak Special Opportunities Fund
| Security | % of fund |
|---|---|
| Sun TV Network Limited | 3.43% |
| Hero MotoCorp Ltd. | 3.33% |
| JYOTI CNC AUTOMATION LTD | 3.28% |
| PVR LTD. | 2.93% |
| Carborundum Universal Ltd. | 2.87% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Kotak MNC | Kotak Special Opportunities |
|---|---|---|
| Equity | 99.6% | 97.2% |
| Debt | 0.0% | 0.0% |
| Cash and others | 0.4% | 2.8% |
Market cap of stocks
| Market cap | Kotak MNC | Kotak Special Opportunities |
|---|---|---|
| Large Cap | 33.5% | 12.6% |
| Mid Cap | 22.2% | 20.7% |
| Small Cap | 37.9% | 55.8% |
| Not on AMFI's list | 6.0% | 8.2% |
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 MNC | Kotak Special Opportunities |
|---|---|---|
| Pharmaceuticals and Biotechnology | 18.1% | 10.7% |
| Electrical Equipment | 16.0% | 7.7% |
| Auto Components | 11.2% | 0.0% |
| Industrial Products | 3.7% | 8.8% |
| Industrial Manufacturing | 4.7% | 7.3% |
| Banks | 0.9% | 7.3% |
| Automobiles | 5.9% | 7.3% |
| Food Products | 6.4% | 1.3% |
| Aerospace and Defense | 4.8% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
Kotak MNC vs Kotak Special Opportunities: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Kotak MNC Fund | Kotak Special Opportunities Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.90% | 1.04% |
| Base expense ratio (Direct) | 0.57% | 0.70% |
| Total expense ratio (Regular) | 2.29% | 2.31% |
| Base expense ratio (Regular) | 1.74% | 1.77% |
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 MNC with
Compare Kotak Special Opportunities with
Kotak MNC Fund vs Kotak Special Opportunities Fund: Frequently Asked Questions
What is the difference between Kotak MNC Fund and Kotak Special Opportunities Fund?
Kotak MNC Fund is a Thematic fund, Kotak Special Opportunities Fund is a Thematic fund, run by Kotak Mahindra Mutual Fund. Their portfolios overlap 22.0%. Kotak MNC Fund charges 0.90% a year and Kotak Special Opportunities Fund 1.04%.
Which has given higher returns, Kotak MNC Fund or Kotak Special Opportunities Fund?
Over 1 year: Kotak MNC Fund +9.29%, Kotak Special Opportunities Fund +6.08%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Kotak MNC Fund or Kotak Special Opportunities Fund?
Kotak MNC Fund charges less: 0.90% a year against 1.04%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Kotak MNC Fund and Kotak Special Opportunities Fund overlap?
22.0%. They hold 11 of the same securities, the largest shared ones being MARUTI, MTARTECH, AZAD. From each fund's latest monthly portfolio.
Which is riskier, Kotak MNC Fund or Kotak Special Opportunities Fund?
On SEBI's riskometer, Kotak MNC Fund is rated Very High and Kotak Special Opportunities Fund Very High. Over 1 years, the standard deviation of daily returns was 16.05% and 18.55% a year.
Can I invest in both Kotak MNC Fund and Kotak Special Opportunities Fund?
Yes. 22.0% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Kotak MNC Fund and Kotak Special Opportunities Fund?
Kotak MNC Fund: Harsha Upadhyaya, Dhananjay Thikaria, Abhishek Bisen. Kotak Special Opportunities Fund: Devender Singhal, 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.