Kotak MSCI India ETF vs Mirae Asset Equity Savings Fund
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
Kotak MSCI India ETF is an ETF fund and Mirae Asset Equity Savings Fund is an Equity Savings fund. In the year to 30-10-2026, Kotak MSCI India ETF returned −8.0% and Mirae Asset Equity Savings Fund (Direct) returned 2.6%. Kotak MSCI India ETF charges 0.24% a year and Mirae Asset Equity Savings Fund 0.73%. Their portfolios overlap 47.6%: they hold 96 of the same securities.
Mirae Asset Equity Savings Fund
Equity Savings
- 1 year return
- 2.6%
- Expense ratio
- 0.73%
- NAV
- ₹22.84
Which is better, Kotak MSCI India ETF or Mirae Asset Equity Savings? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Mirae Asset Equity Savings returned more over 1 year: 2.6% against −8.0%.
- Kotak MSCI India ETF costs less: 0.24% a year against 0.73%.
- Mirae Asset Equity Savings fell less in its worst fall since 25-02-2025: −5.1% against −14.6%.
- Kotak MSCI India ETF holds more in large companies: 80.6% of the fund in large caps against 45.1%.
- Mirae Asset Equity Savings is the larger fund: ₹1,994 Cr against ₹1,749 Cr.
- Their portfolios overlap 47.6%: 96 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 MSCI India ETF | Mirae Asset Equity Savings Fund |
|---|---|---|
| Fund house | Kotak Mahindra Mutual Fund | Mirae Asset Mutual Fund |
| Category | ETF | Equity Savings |
| AUM | ₹1,749 Cr (30-09-2026) | ₹1,994 Cr (30-09-2026) |
| NAV | ₹28.23 | ₹22.84 (Direct) |
| Expense ratio (Direct) | Not available | 0.73% |
| Expense ratio (Regular) | Not available | 1.73% |
| Riskometer | Very High | Moderately High |
| Benchmark | MSCI India TRI | Nifty Equity Savings Index |
| Launch date | 19-02-2025 | 17-12-2018 |
| Minimum investment | Ongoing purchases directly from the Mutual Fund would be restricted to Market Makers and Large Investors (subject to transactions greater than INR 25 crores or such other amount as may be specified by SEBI from time to time) provided the value of units to | ₹5,000 |
| Lock in | None | None |
| Fund managers | Satish Dondapati, Abhishek Bisen, Jeetu Valechha Sonar | Harshad Borawake, Vrijesh Kasera, Bharti Sawant, Basant Bafna |
| Exit load | NIL | Exit Load for units in excess of 15% of the investment,1% will be charged for redemption within 90 Days. |
Kotak MSCI India ETF vs Mirae Asset Equity Savings: 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 MSCI India ETF | +0.29% | −5.98% | −3.50% | −8.03% | -- | -- | -- |
| Mirae Asset Equity Savings Fund (Direct) | +0.07% | −0.57% | +1.77% | +2.60% | +9.98% | +8.69% | -- |
| Equity Savings average | −0.02% | −0.68% | +1.71% | +2.12% | +8.55% | +7.55% | -- |
Category average: the average of the 23 Equity Savings funds, same plan type.
Kotak MSCI India ETF vs Mirae Asset Equity Savings: Year-wise Returns
| Year | Kotak MSCI India ETFKotak MSCI India ETF | Mirae Asset Equity SavingsMirae Asset Equity Savings |
|---|---|---|
| 2026to date | −8.95% | +1.45% |
| 2025 | -- | +9.77% |
| 2024 | -- | +12.51% |
| 2023 | -- | +15.09% |
| 2022 | -- | +4.73% |
| 2021 | -- | +16.90% |
Kotak MSCI India ETF vs Mirae Asset Equity Savings: Rolling Returns
Every holding period of both funds
Rolling returns
Every 1-year holding period, 166 of them, one for each trading day from 25-02-2026 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 MSCI India ETF
Mirae Asset Equity Savings Fund (Direct)
to
Mar 2026Apr 2025
to
Apr 2026Jun 2025
to
Jun 2026Jul 2025
to
Jul 2026Aug 2025
to
Aug 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Kotak MSCI India ETF | 46.4 | 36.7 | 11.4 | 3.6 | 1.8 | 0.0 | 0.0 | 0.9% | 0.2% | −9.8% | 15.8% |
| Mirae Asset Equity Savings | 0.0 | 31.9 | 60.8 | 7.2 | 0.0 | 0.0 | 0.0 | 6.2% | 5.6% | 1.7% | 13.7% |
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. Every fund is measured over the days all of them have, from 25-02-2025. Past returns do not promise future returns.
Kotak MSCI India ETF vs Mirae Asset Equity Savings: 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 25-02-2025 to 30-10-2026: 21 instalments, ₹2,10,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Kotak MSCI India ETFKotak MSCI India ETF | ₹2,10,000 | ₹2,04,302 | −₹5,698 | −3.0% |
| Mirae Asset Equity SavingsMirae Asset Equity Savings Fund (Direct) | ₹2,10,000 | ₹2,19,275 | ₹9,275 | 4.8% |
Kotak MSCI India ETFKotak MSCI India ETF
Mirae Asset Equity SavingsMirae Asset Equity Savings 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 MSCI India ETF vs Mirae Asset Equity Savings: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Kotak MSCI India ETF | Mirae Asset Equity Savings Fund (Direct) |
|---|---|---|
| Return (CAGR) | −8.03% | +2.60% |
| Standard deviation | 14.22% | 5.76% |
| Sharpe ratio | -0.93 | -0.46 |
| Sortino ratio | -1.24 | -0.63 |
| Maximum drawdown | −14.6% (31-03-2026) | −5.1% (30-03-2026) |
| 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 MSCI India ETF | Mirae Asset Equity Savings Fund (Direct) |
|---|---|---|
| Return (CAGR) | +4.02% | +11.02% |
| Standard deviation | 13.78% | 7.23% |
| Sharpe ratio | -0.10 | 0.80 |
| Sortino ratio | -0.14 | 1.08 |
| Maximum drawdown | −14.6% (31-03-2026) | −18.2% (23-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 25-02-2025 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.
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 MSCI India ETF
Mirae Asset Equity Savings Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Kotak MSCI India ETF | −14.6% | 02-01-2026 | 31-03-2026 | Not yet | -- | −10.1% |
| Mirae Asset Equity Savings Fund (Direct) | −5.1% | 18-02-2026 | 30-03-2026 | 18-06-2026 | 3 months | −1.6% |
From daily values since 25-02-2025, 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 MSCI India ETF
Mirae Asset Equity Savings Fund (Direct)
Kotak MSCI India ETF vs Mirae Asset Equity Savings: Portfolio Overlap
From each fund's latest monthly portfolio: Kotak MSCI India ETF, September 2026; Mirae Asset Equity Savings Fund, September 2026
Holdings in common
- Overlap
- 47.6%
- Held by both
- 96
- Only in Kotak MSCI India ETF
- 69
- Only in Mirae Asset Equity Savings
- 73
| Security | % of Kotak MSCI India ETF | % of Mirae Asset Equity Savings |
|---|---|---|
| ICICI BANK LTD. | 5.60% | 3.28% |
| HDFC BANK LTD. | 6.44% | 3.01% |
| BHARTI AIRTEL LTD. | 3.93% | 2.24% |
| RELIANCE INDUSTRIES LTD. | 5.44% | 2.21% |
| AXIS BANK LTD. | 2.25% | 2.12% |
| STATE BANK OF INDIA. | 1.41% | 2.07% |
| KOTAK MAHINDRA BANK LTD. | 1.82% | 1.28% |
| TITAN COMPANY LTD. | 1.30% | 1.27% |
| Mahindra & Mahindra Ltd. | 2.05% | 1.27% |
| Tata Steel Ltd. | 1.10% | 1.39% |
| BAJAJ FINANCE LTD. | 1.91% | 1.02% |
| Larsen and Toubro Ltd. | 2.02% | 0.98% |
| SHRIRAM FINANCE LIMITED | 1.11% | 0.89% |
| SUN PHARMACEUTICAL INDUSTRIES LTD. | 1.30% | 0.86% |
| Maruti Suzuki India Limited | 1.13% | 0.86% |
| Adani Ports and Special Economic Zone Limited | 0.83% | 1.07% |
| ETERNAL LIMITED | 1.22% | 0.81% |
| Eicher Motors Ltd. | 0.78% | 1.06% |
| TVS Motor Company Ltd. | 0.78% | 0.75% |
| Hindustan Aeronautics Ltd. | 0.62% | 0.76% |
| SBI Life Insurance Company Ltd | 0.61% | 1.06% |
| Infosys Ltd. | 2.41% | 0.55% |
| Laurus Labs Ltd | 0.55% | 0.87% |
| Divis Laboratories Ltd. | 0.89% | 0.55% |
| NTPC LTD | 1.12% | 0.54% |
| Hindalco Industries Ltd. | 0.97% | 0.53% |
| TATA CONSULTANCY SERVICES LTD. | 1.33% | 0.51% |
| Avenue Supermarts Ltd | 0.44% | 0.48% |
| Varun Beverages Limited | 0.44% | 0.54% |
| Tata Power Company Ltd. | 0.43% | 0.72% |
| Oil And Natural Gas Corporation Ltd. | 0.46% | 0.42% |
| TATA MOTORS PASSENGER VEHICLES LTD | 0.42% | 0.54% |
| Hero MotoCorp Ltd. | 0.50% | 0.42% |
| HDFC Life Insurance Company Ltd | 0.41% | 0.43% |
| Bharat Electronics Ltd. | 1.08% | 0.40% |
| FEDERAL BANK LTD. | 0.46% | 0.40% |
| Adani Enterprises Ltd | 0.60% | 0.38% |
| Aurobindo Pharma Ltd. | 0.35% | 0.57% |
| JIO FINANCIAL SERVICES LTD | 0.46% | 0.35% |
| Nestle India Ltd. | 0.60% | 0.34% |
| Ashok Leyland Ltd. | 0.34% | 0.51% |
| MULTI COMMODITY EXCHANGE OF INDIA LIMITED | 0.33% | 0.67% |
| ITC Ltd. | 0.63% | 0.33% |
| Dr.Reddy's Laboratories Ltd. | 0.49% | 0.32% |
| Jindal Steel & Power Ltd | 0.32% | 0.58% |
| GAIL (India) Ltd. | 0.31% | 0.53% |
| FSN E-Commerce Ventures Ltd. | 0.31% | 0.68% |
| TORRENT PHARMACEUTICALS LTD. | 0.55% | 0.31% |
| BHARAT PETROLEUM CORPORATION LTD. | 0.39% | 0.30% |
| Ultratech Cement Ltd. | 0.90% | 0.30% |
| VEDANTA ALUMINIUM METAL LTD | 0.45% | 0.30% |
| Coal India Limited | 0.52% | 0.29% |
| Bharat Heavy Electricals Ltd. | 0.40% | 0.28% |
| IDFC FIRST BANK LIMITED | 0.27% | 0.30% |
| Apollo Hospitals Enterprise Ltd. | 0.66% | 0.26% |
| GODREJ CONSUMER PRODUCTS LTD. | 0.26% | 0.25% |
| YES BANK LTD. | 0.25% | 0.29% |
| JSW Steel Ltd. | 0.61% | 0.25% |
| Bajaj Finserv Ltd. | 0.53% | 0.24% |
| Tech Mahindra Ltd. | 0.66% | 0.24% |
| PHOENIX MILLS LTD. | 0.29% | 0.23% |
| ADITYA BIRLA CAPITAL LTD | 0.23% | 0.63% |
| DLF LIMITED | 0.33% | 0.23% |
| National Aluminium Company Ltd. | 0.22% | 0.29% |
| HITACHI ENERGY INDIA LTD. | 0.30% | 0.21% |
| Hindustan Unilever Ltd. | 1.06% | 0.21% |
| Power Finance Corporation Ltd. | 0.34% | 0.21% |
| INDUSIND BANK LTD. | 0.41% | 0.21% |
| Mphasis Ltd | 0.20% | 0.44% |
| VISHAL MEGA MART LIMITED | 0.19% | 0.25% |
| BANK OF BARODA | 0.19% | 0.34% |
| BSE LTD | 0.49% | 0.19% |
| AMBUJA CEMENTS LTD. | 0.18% | 0.59% |
| JSW ENERGY LTD. | 0.18% | 0.65% |
| HDFC ASSET MANAGEMENT COMPANY LTD. | 0.35% | 0.18% |
| BHARAT FORGE LTD. | 0.37% | 0.17% |
| Zydus Lifesciences Ltd. | 0.17% | 0.20% |
| CANARA BANK | 0.17% | 0.25% |
| SIEMENS ENERGY INDIA LTD | 0.21% | 0.17% |
| Supreme Industries Limited | 0.17% | 0.16% |
| AU SMALL FINANCE BANK LTD. | 0.45% | 0.16% |
| Inter Globe Aviation Ltd | 0.75% | 0.15% |
| Asian Paints(India) Ltd. | 0.74% | 0.14% |
| GODREJ PROPERTIES LIMITED | 0.18% | 0.10% |
| Indus Towers Ltd. | 0.37% | 0.10% |
| MUTHOOT FINANCE LTD. | 0.24% | 0.09% |
| Lupin Ltd. | 0.37% | 0.08% |
| PUNJAB NATIONAL BANK | 0.21% | 0.08% |
| United Spirits Ltd | 0.31% | 0.08% |
| Fortis Healthcare India Ltd | 0.30% | 0.07% |
| Dabur India Ltd. | 0.13% | 0.07% |
| INDIAN OIL CORPORATION LTD. | 0.30% | 0.07% |
| UPL Ltd | 0.22% | 0.06% |
| Pidilite Industries Ltd. | 0.33% | 0.05% |
| One 97 Communications Ltd | 0.51% | 0.03% |
| INDIAN BANK | 0.17% | 0.02% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 47.6% means 47.6% 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 MSCI India ETF
| Security | % of fund |
|---|---|
| Power Grid Corporation of India Ltd. | 0.87% |
| HCL Technologies Ltd. | 0.87% |
| Grasim Industries Ltd. | 0.66% |
| TML COMMERCIAL VEHICLES LIMITED | 0.62% |
| Bajaj Auto Ltd. | 0.58% |
Largest holdings only in Mirae Asset Equity Savings Fund
| Security | % of fund |
|---|---|
| 8.65% Muthoot Finance Ltd. (MD 31/01/2028) | 2.50% |
| 7.88% Muthoot Finance Ltd. (MD 22/11/2028) | 2.46% |
| 7.47% Reliance Industries Ltd. (MD 16/09/2031) | 2.44% |
| 7.45% Torrent Pharmaceuticals Ltd. (MD 19/01/2028) | 1.99% |
| 6.79% Government of India (MD 07/10/2034) | 1.32% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Kotak MSCI India ETF | Mirae Asset Equity Savings |
|---|---|---|
| Equity | 100.0% | 64.9% |
| Debt | 0.0% | 29.7% |
| Cash and others | 0.0% | 5.5% |
Market cap of stocks
| Market cap | Kotak MSCI India ETF | Mirae Asset Equity Savings |
|---|---|---|
| Large Cap | 80.6% | 45.1% |
| Mid Cap | 19.4% | 11.7% |
| Small Cap | 0.0% | 6.4% |
| Not on AMFI's list | 0.0% | 1.6% |
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 MSCI India ETF | Mirae Asset Equity Savings |
|---|---|---|
| Banks | 20.3% | 13.9% |
| IT - Software | 6.6% | 2.0% |
| Petroleum Products | 6.4% | 2.6% |
| Finance | 6.3% | 3.4% |
| Automobiles | 6.2% | 4.9% |
| Pharmaceuticals and Biotechnology | 5.6% | 0.0% |
| Pharmaceuticals & Biotechnology | 0.0% | 5.2% |
| Consumer Durables | 2.8% | 3.0% |
The six largest sectors of each fund's stocks, % of the fund.
Kotak MSCI India ETF vs Mirae Asset Equity Savings: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Kotak MSCI India ETF | Mirae Asset Equity Savings Fund |
|---|---|---|
| Total expense ratio (Direct) | Not available | 0.73% |
| Base expense ratio (Direct) | 0.00% | 0.31% |
| Total expense ratio (Regular) | Not available | 1.73% |
| Base expense ratio (Regular) | 0.17% | 1.16% |
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
Kotak MSCI India ETF vs Mirae Asset Equity Savings Fund: Frequently Asked Questions
What is the difference between Kotak MSCI India ETF and Mirae Asset Equity Savings Fund?
Kotak MSCI India ETF is an ETF fund, Mirae Asset Equity Savings Fund is an Equity Savings fund, run by Kotak Mahindra Mutual Fund and Mirae Asset Mutual Fund. Their portfolios overlap 47.6%. Kotak MSCI India ETF charges 0.24% a year and Mirae Asset Equity Savings Fund 0.73%.
Which has given higher returns, Kotak MSCI India ETF or Mirae Asset Equity Savings Fund?
Over 1 year: Kotak MSCI India ETF −8.03%, Mirae Asset Equity Savings Fund +2.60%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Kotak MSCI India ETF or Mirae Asset Equity Savings Fund?
Kotak MSCI India ETF charges less: 0.24% a year against 0.73%. These are the total expense ratios reported to AMFI.
How much do Kotak MSCI India ETF and Mirae Asset Equity Savings Fund overlap?
47.6%. They hold 96 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, BHARTIARTL. From each fund's latest monthly portfolio.
Which is riskier, Kotak MSCI India ETF or Mirae Asset Equity Savings Fund?
On SEBI's riskometer, Kotak MSCI India ETF is rated Very High and Mirae Asset Equity Savings Fund Moderately High. Over 1 years, the standard deviation of daily returns was 14.22% and 5.76% a year.
Can I invest in both Kotak MSCI India ETF and Mirae Asset Equity Savings Fund?
Yes. 47.6% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Kotak MSCI India ETF and Mirae Asset Equity Savings Fund?
Kotak MSCI India ETF: Satish Dondapati, Abhishek Bisen, Jeetu Valechha Sonar. Mirae Asset Equity Savings Fund: Harshad Borawake, Vrijesh Kasera, Bharti Sawant, Basant Bafna.
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.