Kotak Money Market Fund vs UTI - Money Market Fund
Direct Plan, Growth option · Data as on 30-10-2026
Kotak Money Market Fund and UTI - Money Market Fund are both Money Market funds. In the 3 years to 30-10-2026, Kotak Money Market Fund (Direct) returned 7.3% a year and UTI - Money Market Fund (Direct) returned 7.3% a year. Kotak Money Market Fund charges 0.16% a year and UTI - Money Market Fund 0.17% (Direct plans). Their portfolios overlap 19.8%: they hold 22 of the same securities.
Kotak Money Market Fund
Money Market
- 3 year return
- 7.3%
- Expense ratio
- 0.16%
- NAV
- ₹4,932.03
UTI - Money Market Fund
Money Market
- 3 year return
- 7.3%
- Expense ratio
- 0.17%
- NAV
- ₹3,395.03
Which is better, Kotak Money Market or UTI - Money Market? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- UTI - Money Market returned more over 5 years: 6.8% a year against 6.8%.
- Kotak Money Market returned more over 3 years: 7.3% a year against 7.3%.
- Kotak Money Market costs less: 0.16% a year against 0.17% (Direct plans).
- Kotak Money Market swung less over 3 years: a standard deviation of 0.4% a year against 0.4%.
- UTI - Money Market fell less in its worst fall since 01-01-2013: −0.8% against −0.8%.
- Kotak Money Market is the larger fund: ₹27,513 Cr against ₹16,039 Cr.
- Their portfolios overlap 19.8%: 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 Money Market Fund | UTI - Money Market Fund |
|---|---|---|
| Fund house | Kotak Mahindra Mutual Fund | UTI Mutual Fund |
| Category | Money Market | Money Market |
| AUM | ₹27,513 Cr (30-09-2026) | ₹16,039 Cr (30-09-2026) |
| NAV | ₹4,932.03 (Direct) | ₹3,395.03 (Direct) |
| Expense ratio (Direct) | 0.16% | 0.17% |
| Expense ratio (Regular) | 0.37% | 0.29% |
| Riskometer | Moderate | Moderate |
| Benchmark | CRISIL Money Market A-I Index | CRISIL Money Market A-I Index |
| Launch date | 14-07-2003 | 23-04-1997 |
| Minimum investment | ₹100 | Regular Plan-Quarterly Reinvestment of IDCW- Rs.20000, Regular Plan-Quarterly Payout of IDCW- Rs.20000, Regular Plan-Monthly Reinvestment of IDCW- Rs.20000, Regular Plan-Monthly Payout of IDCW- Rs.20000, Regular Plan-Weekly Reinvestment of IDCW- Rs.20000, |
| Lock in | None | None |
| Fund managers | Deepak Agrawal, Manu Sharma | Anurag Mittal FM 1, Amit Sharma FM 2, Not Applicable FM 3, Not Applicable FM 4 |
| Exit load | Nil | Nil |
Kotak Money Market vs UTI - Money Market: 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 Money Market Fund (Direct) | +0.33% | +1.49% | +3.32% | +6.39% | +7.31% | +6.75% | +6.63% |
| UTI - Money Market Fund (Direct) | +0.32% | +1.50% | +3.31% | +6.33% | +7.30% | +6.77% | +6.71% |
| Money Market average | +0.33% | +1.49% | +3.29% | +6.35% | +7.24% | +6.68% | +6.60% |
Category average: the average of the 27 Money Market funds, same plan type.
Kotak Money Market vs UTI - Money Market: Year-wise Returns
| Year | KotakKotak Money Market | UTI -UTI - Money Market |
|---|---|---|
| 2026to date | +5.31% | +5.24% |
| 2025 | +7.52% | +7.57% |
| 2024 | +7.84% | +7.84% |
| 2023 | +7.43% | +7.51% |
| 2022 | +4.95% | +5.00% |
| 2021 | +3.77% | +3.84% |
Kotak Money Market vs UTI - Money Market: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 2,760 of them, one for each trading day from 01-01-2016 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 Money Market Fund (Direct)
UTI - Money Market Fund (Direct)
to
Nov 2016Sept 2015
to
Sept 2018Jul 2017
to
Jul 2020May 2019
to
May 2022Mar 2021
to
Mar 2024Dec 2022
to
Dec 2025
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Kotak Money Market | 0.0 | 8.9 | 91.1 | 0.0 | 0.0 | 0.0 | 0.0 | 7.1% | 7.4% | 4.7% | 9.0% |
| UTI - Money Market | 0.0 | 3.1 | 96.9 | 0.0 | 0.0 | 0.0 | 0.0 | 7.2% | 7.5% | 4.9% | 9.0% |
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. Every fund is measured over the days all of them have, from 01-01-2013. Past returns do not promise future returns.
Kotak Money Market vs UTI - Money Market: 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 01-01-2013 to 30-10-2026: 166 instalments, ₹16,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Kotak Money MarketKotak Money Market Fund (Direct) | ₹16,60,000 | ₹27,12,640 | ₹10,52,640 | 6.8% |
| UTI - Money MarketUTI - Money Market Fund (Direct) | ₹16,60,000 | ₹27,25,232 | ₹10,65,232 | 6.9% |
Kotak Money MarketKotak Money Market Fund (Direct)
UTI - Money MarketUTI - Money Market 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 Money Market vs UTI - Money Market: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Kotak Money Market Fund (Direct) | UTI - Money Market Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.39% | +6.33% |
| Standard deviation | 0.52% | 0.52% |
| Sharpe ratio | 2.22 | 2.10 |
| Sortino ratio | 3.57 | 3.30 |
| Maximum drawdown | −0.1% (22-05-2026) | −0.1% (22-05-2026) |
| 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 Money Market Fund (Direct) | UTI - Money Market Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.31% | +7.30% |
| Standard deviation | 0.42% | 0.42% |
| Sharpe ratio | 3.04 | 3.01 |
| Sortino ratio | 5.72 | 5.57 |
| Maximum drawdown | −0.1% (22-05-2026) | −0.1% (22-05-2026) |
| 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 Money Market Fund (Direct) | UTI - Money Market Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.75% | +6.77% |
| Standard deviation | 0.39% | 0.39% |
| Sharpe ratio | 2.42 | 2.47 |
| Sortino ratio | 4.39 | 4.46 |
| Maximum drawdown | −0.2% (05-05-2022) | −0.2% (05-05-2022) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 29-10-2021 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 Money Market Fund (Direct) | UTI - Money Market Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.22% | +7.27% |
| Standard deviation | 0.41% | 0.39% |
| Sharpe ratio | 2.85 | 3.16 |
| Sortino ratio | 5.59 | 6.31 |
| Maximum drawdown | −0.8% (24-03-2020) | −0.8% (24-03-2020) |
| 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 Money Market Fund (Direct)
UTI - Money Market Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Kotak Money Market Fund (Direct) | −0.8% | 11-03-2020 | 24-03-2020 | 27-03-2020 | 3 days | 0.0% |
| UTI - Money Market Fund (Direct) | −0.8% | 11-03-2020 | 24-03-2020 | 27-03-2020 | 3 days | 0.0% |
From daily values since 01-01-2013, 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 Money Market Fund (Direct)
UTI - Money Market 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 Money Market Fund (Direct)
UTI - Money Market Fund (Direct)
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 5-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Kotak Money Market Fund (Direct)
UTI - Money Market Fund (Direct)
Kotak Money Market vs UTI - Money Market: Portfolio Overlap
From each fund's latest monthly portfolio: Kotak Money Market Fund, September 2026; UTI - Money Market Fund, September 2026
Holdings in common
- Overlap
- 19.8%
- Held by both
- 22
- Only in Kotak Money Market
- 86
- Only in UTI - Money Market
- 70
| Security | % of Kotak Money Market | % of UTI - Money Market |
|---|---|---|
| 182 DAYS TREASURY BILL 04/02/2027 | 4.45% | 3.06% |
| NATIONAL BANK FOR AGRICULTURE & RURAL DEVELOPMENT | 3.82% | 2.44% |
| HDFC BANK LTD. | 1.77% | 2.12% |
| NATIONAL BANK FOR AGRICULTURE & RURAL DEVELOPMENT | 2.12% | 1.21% |
| NATIONAL BANK FOR AGRICULTURE & RURAL DEVELOPMENT | 1.07% | 1.22% |
| AU SMALL FINANCE BANK LTD.(^) | 1.07% | 1.22% |
| SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA | 1.78% | 0.91% |
| SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA(^) | 1.38% | 0.89% |
| INDUSIND BANK LTD. | 0.89% | 1.22% |
| SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA | 0.88% | 2.43% |
| HDFC BANK LTD. | 0.71% | 1.52% |
| CANARA BANK | 0.62% | 2.13% |
| CANARA BANK | 0.62% | 1.51% |
| SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA | 2.48% | 0.61% |
| AXIS SECURITIES LIMITED(^) | 0.71% | 0.61% |
| NATIONAL BANK FOR FINANCING INFRASTRUCTURE AND DEVELOPMENT | 0.53% | 1.52% |
| CANARA BANK | 0.53% | 0.61% |
| MUTHOOT FINCORP LTD. | 0.53% | 0.45% |
| SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA | 0.36% | 1.22% |
| SBI ALTERNATIVE INVESTMENT FUND | 0.35% | 0.36% |
| NATIONAL BANK FOR AGRICULTURE & RURAL DEVELOPMENT | 0.09% | 0.76% |
| CANARA BANK | 0.09% | 1.22% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 19.8% means 19.8% 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 Money Market Fund
| Security | % of fund |
|---|---|
| 182 DAYS TREASURY BILL 11/02/2027 | 3.11% |
| PUNJAB NATIONAL BANK | 2.84% |
| INDUSIND BANK LTD. | 2.66% |
| YES BANK LTD. | 2.64% |
| HDFC BANK LTD. | 2.12% |
Largest holdings only in UTI - Money Market Fund
| Security | % of fund |
|---|---|
| CD - INDIAN BANK - 05/02/2027 | 2.44% |
| CD - NABARD - 22/01/2027 | 2.44% |
| 182 DAYS T-BILL - 18/02/2027 | 2.13% |
| CD - KOTAK MAHINDRA BANK LTD - 12/02/2027 | 1.98% |
| CD - NABARD - 19/01/2027 | 1.83% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Kotak Money Market | UTI - Money Market |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 98.9% | 95.7% |
| Cash and others | 1.1% | 4.3% |
Kotak Money Market vs UTI - Money Market: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Kotak Money Market Fund | UTI - Money Market Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.16% | 0.17% |
| Base expense ratio (Direct) | 0.14% | 0.15% |
| Total expense ratio (Regular) | 0.37% | 0.29% |
| Base expense ratio (Regular) | 0.32% | 0.25% |
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 Money Market with
Kotak Money Market Fund vs UTI - Money Market Fund: Frequently Asked Questions
What is the difference between Kotak Money Market Fund and UTI - Money Market Fund?
Both are Money Market funds, run by Kotak Mahindra Mutual Fund and UTI Mutual Fund. Their portfolios overlap 19.8%. Kotak Money Market Fund charges 0.16% a year and UTI - Money Market Fund 0.17%.
Which has given higher returns, Kotak Money Market Fund or UTI - Money Market Fund?
Over 1 year: Kotak Money Market Fund +6.39%, UTI - Money Market Fund +6.33%. Over 3 years: Kotak Money Market Fund +7.31% a year, UTI - Money Market Fund +7.30% a year. Over 5 years: Kotak Money Market Fund +6.75% a year, UTI - Money Market Fund +6.77% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Kotak Money Market Fund or UTI - Money Market Fund?
Kotak Money Market Fund charges less: 0.16% a year against 0.17%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Kotak Money Market Fund and UTI - Money Market Fund overlap?
19.8%. They hold 22 of the same securities, the largest shared ones being 182 DAYS TREASURY BILL 04/02/2027, NATIONAL BANK FOR AGRICULTURE & RURAL DEVELOPMENT, HDFC BANK LTD.. From each fund's latest monthly portfolio.
Which is riskier, Kotak Money Market Fund or UTI - Money Market Fund?
On SEBI's riskometer, Kotak Money Market Fund is rated Moderate and UTI - Money Market Fund Moderate. Over 3 years, the standard deviation of daily returns was 0.42% and 0.42% a year.
Which is better for SIP, Kotak Money Market Fund or UTI - Money Market Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,31,148 in Kotak Money Market Fund (XIRR 7.1% a year) and ₹7,31,271 in UTI - Money Market Fund (XIRR 7.1% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Kotak Money Market Fund and UTI - Money Market Fund?
Yes. 19.8% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Kotak Money Market Fund and UTI - Money Market Fund?
Kotak Money Market Fund: Deepak Agrawal, Manu Sharma. UTI - Money Market Fund: Anurag Mittal FM 1, Amit Sharma FM 2, Not Applicable FM 3, Not Applicable FM 4.
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.