Kotak Multi Cap Fund vs Nippon India Multi Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Kotak Multi Cap Fund and Nippon India Multi Cap Fund are both Multi Cap funds. In the 3 years to 30-10-2026, Kotak Multi Cap Fund (Direct) returned 15.6% a year and Nippon India Multi Cap Fund (Direct) returned 11.9% a year. Kotak Multi Cap Fund charges 0.69% a year and Nippon India Multi Cap Fund 0.89% (Direct plans). Their portfolios overlap 19.5%: they hold 20 of the same securities.
Nippon India Multi Cap Fund
Multi Cap
- 3 year return
- 11.9%
- Expense ratio
- 0.89%
- NAV
- ₹309.72
Which is better, Kotak Multi Cap or Nippon India Multi Cap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Kotak Multi Cap returned more over 5 years: 15.5% a year against 14.9%.
- Kotak Multi Cap returned more over 3 years: 15.6% a year against 11.9%.
- Kotak Multi Cap costs less: 0.69% a year against 0.89% (Direct plans).
- Nippon India Multi Cap swung less over 3 years: a standard deviation of 14.3% a year against 15.9%.
- Nippon India Multi Cap fell less in its worst fall since 06-10-2021: −18.6% against −21.0%.
- Nippon India Multi Cap is the larger fund: ₹53,767 Cr against ₹30,335 Cr.
- Their portfolios overlap 19.5%: 20 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 Multi Cap Fund | Nippon India Multi Cap Fund |
|---|---|---|
| Fund house | Kotak Mahindra Mutual Fund | Nippon India Mutual Fund |
| Category | Multi Cap | Multi Cap |
| AUM | ₹30,335 Cr (30-09-2026) | ₹53,767 Cr (30-09-2026) |
| NAV | ₹20.32 (Direct) | ₹309.72 (Direct) |
| Expense ratio (Direct) | 0.69% | 0.89% |
| Expense ratio (Regular) | 1.77% | 1.62% |
| Riskometer | Very High | Very High |
| Benchmark | NIFTY 500 Multicap 50:25:25 Total Return Index | NIFTY 500 Multicap 50:25:25 Total Return Index |
| Launch date | 29-09-2021 | 28-03-2005 |
| Minimum investment | ₹100 | ₹100 |
| Lock in | None | None |
| Fund managers | Devender Singal, Abhishek Bisen | Sailesh Raj Bhan, Yatin Matta |
| Exit load | Exit load for units in excess of 10% of the investment,1% will be charged for redemption within 1 year. | For units more than 10% of the investments, an exit load of 1% if redeemed within 12 months. |
Kotak Multi Cap vs Nippon India Multi Cap: 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 Multi Cap Fund (Direct) | −3.75% | −5.89% | −2.88% | −4.64% | +15.63% | +15.50% | -- |
| Nippon India Multi Cap Fund (Direct) | −3.06% | −7.39% | −5.16% | −8.14% | +11.87% | +14.92% | +14.86% |
| Multi Cap average | −2.65% | −3.95% | +1.99% | −1.14% | +13.54% | +12.56% | +14.55% |
Category average: the average of the 33 Multi Cap funds, same plan type.
Kotak Multi Cap vs Nippon India Multi Cap: Year-wise Returns
| Year | KotakKotak Multi Cap | Nippon IndiaNippon India Multi Cap | Nifty500 Multicap 50:25:25 TRI |
|---|---|---|---|
| 2026to date | −5.28% | −6.44% | −5.56% |
| 2025 | +7.73% | +4.88% | +5.29% |
| 2024 | +28.75% | +26.85% | +19.34% |
| 2023 | +41.89% | +39.15% | +33.74% |
| 2022 | +11.82% | +14.97% | +2.84% |
| 2021 | -- | +49.87% | +40.62% |
Kotak Multi Cap vs Nippon India Multi Cap: Rolling Returns
Every holding period of both funds, against Nifty500 Multicap 50:25:25 TRI, the benchmark of both
Rolling returns
Every 3-year holding period, 509 of them, one for each trading day from 07-10-2024 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 Multi Cap Fund (Direct)
Nippon India Multi Cap Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
to
Dec 2024Apr 2022
to
Apr 2025Aug 2022
to
Aug 2025Dec 2022
to
Dec 2025May 2023
to
May 2026Aug 2023
to
Aug 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 Multi Cap | 0.0 | 0.0 | 0.0 | 0.6 | 13.4 | 48.7 | 37.3 | 24.0% | 24.3% | 14.4% | 31.8% | 100% |
| Nippon India Multi Cap | 0.0 | 0.0 | 0.0 | 8.4 | 16.5 | 50.5 | 24.6 | 22.3% | 22.9% | 11.0% | 32.0% | 100% |
| Nifty500 Multicap 50:25:25 TRI | 0.0 | 0.0 | 0.0 | 17.9 | 69.0 | 12.2 | 1.0 | 17.5% | 17.8% | 10.1% | 25.5% | -- |
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 Nifty500 Multicap 50:25:25 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 06-10-2021. Past returns do not promise future returns.
Kotak Multi Cap vs Nippon India Multi Cap: 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 06-10-2021 to 30-10-2026: 61 instalments, ₹6,10,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Kotak Multi CapKotak Multi Cap Fund (Direct) | ₹6,10,000 | ₹8,68,533 | ₹2,58,533 | 13.9% |
| Nippon India Multi CapNippon India Multi Cap Fund (Direct) | ₹6,10,000 | ₹8,13,687 | ₹2,03,687 | 11.3% |
Kotak Multi CapKotak Multi Cap Fund (Direct)
Nippon India Multi CapNippon India Multi Cap 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 Multi Cap vs Nippon India Multi Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Kotak Multi Cap Fund (Direct) | Nippon India Multi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −4.64% | −8.14% |
| Standard deviation | 15.80% | 14.29% |
| Sharpe ratio | -0.63 | -0.94 |
| Sortino ratio | -0.83 | -1.24 |
| Maximum drawdown | −13.9% (30-03-2026) | −13.1% (31-03-2026) |
| Beta | 1.03 | 0.94 |
| Alpha | +1.72% | −2.81% |
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 Multi Cap Fund (Direct) | Nippon India Multi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.63% | +11.87% |
| Standard deviation | 15.91% | 14.32% |
| Sharpe ratio | 0.60 | 0.41 |
| Sortino ratio | 0.82 | 0.55 |
| Maximum drawdown | −21.0% (03-03-2025) | −18.6% (03-03-2025) |
| Beta | 1.02 | 0.93 |
| Alpha | +4.27% | +0.99% |
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 Multi Cap Fund (Direct) | Nippon India Multi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.50% | +14.92% |
| Standard deviation | 15.43% | 14.54% |
| Sharpe ratio | 0.63 | 0.63 |
| Sortino ratio | 0.84 | 0.84 |
| Maximum drawdown | −21.0% (03-03-2025) | −18.6% (03-03-2025) |
| Beta | 0.99 | 0.94 |
| Alpha | +5.02% | +4.68% |
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 Multi Cap Fund (Direct) | Nippon India Multi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.00% | +14.98% |
| Standard deviation | 15.36% | 16.54% |
| Sharpe ratio | 0.60 | 0.54 |
| Sortino ratio | 0.81 | 0.73 |
| Maximum drawdown | −21.0% (03-03-2025) | −42.8% (23-03-2020) |
| Beta | 0.99 | -- |
| Alpha | +4.82% | -- |
From daily NAVs, 06-10-2021 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.
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 Multi Cap Fund (Direct)
Nippon India Multi Cap Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Kotak Multi Cap Fund (Direct) | −21.0% | 27-09-2024 | 03-03-2025 | 20-10-2025 | 8 months | −7.4% |
| Nippon India Multi Cap Fund (Direct) | −18.6% | 26-09-2024 | 03-03-2025 | 17-09-2025 | 7 months | −9.2% |
| Nifty500 Multicap 50:25:25 TRI | −19.8% | 26-09-2024 | 03-03-2025 | 03-08-2026 | 17 months | −8.0% |
From daily values since 06-10-2021, 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 Multi Cap Fund (Direct)
Nippon India Multi Cap Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
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 Multi Cap Fund (Direct)
Nippon India Multi Cap Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
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 Multi Cap Fund (Direct)
Nippon India Multi Cap Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
Against Nifty500 Multicap 50:25:25 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Kotak Multi Cap Fund (Direct) | 110% | 89% | 4.02% |
| Nippon India Multi Cap Fund (Direct) | 100% | 76% | 4.75% |
From month-end values since 06-10-2021. 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 Multi Cap vs Nippon India Multi Cap: Portfolio Overlap
From each fund's latest monthly portfolio: Kotak Multi Cap Fund, September 2026; Nippon India Multi Cap Fund, September 2026
Holdings in common
- Overlap
- 19.5%
- Held by both
- 20
- Only in Kotak Multi Cap
- 53
- Only in Nippon India Multi Cap
- 100
| Security | % of Kotak Multi Cap | % of Nippon India Multi Cap |
|---|---|---|
| HDFC BANK LTD. | 5.66% | 7.06% |
| NTPC LTD | 2.20% | 1.79% |
| ITC Ltd. | 2.04% | 1.49% |
| Larsen and Toubro Ltd. | 1.48% | 1.74% |
| STATE BANK OF INDIA. | 3.55% | 1.23% |
| SWIGGY LTD | 1.14% | 1.63% |
| ETERNAL LIMITED | 3.28% | 0.96% |
| Aditya Birla Sun Life AMC Ltd | 1.12% | 0.96% |
| SUN PHARMACEUTICAL INDUSTRIES LTD. | 2.13% | 0.91% |
| PVR LTD. | 0.76% | 0.75% |
| Jubilant Foodworks Limited | 0.57% | 1.49% |
| Power Finance Corporation Ltd. | 2.26% | 0.39% |
| BILLIONBRAINS GARAGE VENTURES LIMITED (GROWW) | 0.52% | 0.38% |
| NLC India Ltd. (Neyveli Lignite Corporation Ltd.) | 1.63% | 0.36% |
| Whirlpool of India Ltd. | 1.20% | 0.31% |
| Kajaria Ceramics Ltd. | 1.89% | 0.27% |
| PIRAMAL FINANCE LTD | 0.87% | 0.26% |
| RELIANCE INDUSTRIES LTD. | 0.23% | 1.34% |
| KALPATARU PROJECTS INTERNATIONAL LIMITED | 1.03% | 0.22% |
| Indigo Paints Limited | 0.38% | 0.18% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 19.5% means 19.5% 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 Multi Cap Fund
| Security | % of fund |
|---|---|
| Maruti Suzuki India Limited | 4.10% |
| Oracle Financial Services Software Ltd | 3.46% |
| INDO-MIM LTD | 3.33% |
| Hero MotoCorp Ltd. | 3.26% |
| INDUSIND BANK LTD. | 2.97% |
Largest holdings only in Nippon India Multi Cap Fund
| Security | % of fund |
|---|---|
| Axis Bank Limited | 5.07% |
| Infosys Limited | 3.06% |
| ICICI Bank Limited | 2.97% |
| Linde India Limited | 1.79% |
| Samvardhana Motherson International Limited | 1.70% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Kotak Multi Cap | Nippon India Multi Cap |
|---|---|---|
| Equity | 98.5% | 99.3% |
| Debt | 0.0% | 0.0% |
| Cash and others | 1.5% | 0.7% |
Market cap of stocks
| Market cap | Kotak Multi Cap | Nippon India Multi Cap |
|---|---|---|
| Large Cap | 39.5% | 43.5% |
| Mid Cap | 25.1% | 29.5% |
| Small Cap | 29.5% | 26.3% |
| Not on AMFI's list | 4.4% | 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 Multi Cap | Nippon India Multi Cap |
|---|---|---|
| Banks | 20.4% | 17.6% |
| Retailing | 4.4% | 9.9% |
| Pharmaceuticals & Biotechnology | 0.0% | 7.9% |
| Finance | 7.5% | 3.0% |
| Automobiles | 7.4% | 1.8% |
| Consumer Durables | 4.0% | 6.9% |
| Leisure Services | 0.6% | 5.8% |
| Industrial Manufacturing | 5.7% | 1.7% |
| Construction | 5.2% | 2.5% |
| Electrical Equipment | 0.0% | 5.0% |
| Telecom - Services | 4.6% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
Kotak Multi Cap vs Nippon India Multi Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Kotak Multi Cap Fund | Nippon India Multi Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.69% | 0.89% |
| Base expense ratio (Direct) | 0.42% | 0.60% |
| Total expense ratio (Regular) | 1.77% | 1.62% |
| Base expense ratio (Regular) | 1.34% | 1.23% |
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 Multi Cap with
Kotak Multi Cap Fund vs Nippon India Multi Cap Fund: Frequently Asked Questions
What is the difference between Kotak Multi Cap Fund and Nippon India Multi Cap Fund?
Both are Multi Cap funds, run by Kotak Mahindra Mutual Fund and Nippon India Mutual Fund. Their portfolios overlap 19.5%. Kotak Multi Cap Fund charges 0.69% a year and Nippon India Multi Cap Fund 0.89%.
Which has given higher returns, Kotak Multi Cap Fund or Nippon India Multi Cap Fund?
Over 1 year: Kotak Multi Cap Fund −4.64%, Nippon India Multi Cap Fund −8.14%. Over 3 years: Kotak Multi Cap Fund +15.63% a year, Nippon India Multi Cap Fund +11.87% a year. Over 5 years: Kotak Multi Cap Fund +15.50% a year, Nippon India Multi Cap Fund +14.92% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Kotak Multi Cap Fund or Nippon India Multi Cap Fund?
Kotak Multi Cap Fund charges less: 0.69% a year against 0.89%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Kotak Multi Cap Fund and Nippon India Multi Cap Fund overlap?
19.5%. They hold 20 of the same securities, the largest shared ones being HDFCBANK, NTPC, ITC. From each fund's latest monthly portfolio.
Which is riskier, Kotak Multi Cap Fund or Nippon India Multi Cap Fund?
On SEBI's riskometer, Kotak Multi Cap Fund is rated Very High and Nippon India Multi Cap Fund Very High. Over 3 years, the standard deviation of daily returns was 15.91% and 14.32% a year.
Which is better for SIP, Kotak Multi Cap Fund or Nippon India Multi Cap Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 06-10-2021 to 30-10-2026 grew to ₹8,68,533 in Kotak Multi Cap Fund (XIRR 13.9% a year) and ₹8,13,687 in Nippon India Multi Cap Fund (XIRR 11.3% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Kotak Multi Cap Fund and Nippon India Multi Cap Fund?
Yes. 19.5% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Kotak Multi Cap Fund and Nippon India Multi Cap Fund?
Kotak Multi Cap Fund: Devender Singal, Abhishek Bisen. Nippon India Multi Cap Fund: Sailesh Raj Bhan, Yatin Matta.
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.