Kotak Nifty Commodities Index Fund vs Mirae Asset Nifty Metal ETF
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
Kotak Nifty Commodities Index Fund is an Index fund and Mirae Asset Nifty Metal ETF is an ETF fund. In the year to 30-10-2026, Kotak Nifty Commodities Index Fund (Direct) returned −4.8% and Mirae Asset Nifty Metal ETF returned 10.6%. Kotak Nifty Commodities Index Fund charges 0.30% a year and Mirae Asset Nifty Metal ETF 0.53%. Their portfolios overlap 30.6%: they hold 8 of the same securities.
Kotak Nifty Commodities Index Fund
Index
- 1 year return
- −4.8%
- Expense ratio
- 0.30%
- NAV
- ₹11.25
Mirae Asset Nifty Metal ETF
ETF
- 1 year return
- 10.6%
- Expense ratio
- 0.53%
- NAV
- ₹11.92
Which is better, Kotak Nifty Commodities Index or Mirae Asset Nifty Metal ETF? 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 Nifty Metal ETF returned more over 1 year: 10.6% against −4.8%.
- Kotak Nifty Commodities Index costs less: 0.30% a year against 0.53%.
- Kotak Nifty Commodities Index fell less in its worst fall since 18-03-2025: −15.8% against −15.9%.
- Mirae Asset Nifty Metal ETF is the larger fund: ₹537 Cr against ₹283 Cr.
- Their portfolios overlap 30.6%: 8 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 Nifty Commodities Index Fund | Mirae Asset Nifty Metal ETF |
|---|---|---|
| Fund house | Kotak Mahindra Mutual Fund | Mirae Asset Mutual Fund |
| Category | Index | ETF |
| AUM | ₹283 Cr (30-09-2026) | ₹537 Cr (30-09-2026) |
| NAV | ₹11.25 (Direct) | ₹11.92 |
| Expense ratio (Direct) | 0.30% | Not available |
| Expense ratio (Regular) | 0.57% | Not available |
| Riskometer | Very High | Very High |
| Benchmark | Nifty Commodities TRI | Nifty Metal TRI |
| Launch date | 10-03-2025 | 03-10-2024 |
| Minimum investment | ₹100 | On exchange in multiple of 1 unit. With AMC: In multiples of 3,00,000 units |
| Lock in | None | None |
| Fund managers | Satish DondapatiFM 2 Mr. Abhishek Bisen, Jeetu Valechha Sonar | Ekta Gala, amp, Akhay Udeshi |
| Exit load | Nil | NIL |
Kotak Nifty Commodities Index vs Mirae Asset Nifty Metal 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 Nifty Commodities Index Fund (Direct) | −3.65% | −8.47% | −11.93% | −4.81% | -- | -- | -- |
| Mirae Asset Nifty Metal ETF | −7.53% | −7.08% | −7.71% | +10.61% | -- | -- | -- |
Kotak Nifty Commodities Index vs Mirae Asset Nifty Metal ETF: Year-wise Returns
| Year | Kotak Nifty Commodities IndexKotak Nifty Commodities Index | Mirae Asset Nifty Metal ETFMirae Asset Nifty Metal ETF |
|---|---|---|
| 2026to date | −5.07% | +6.29% |
| 2025 | -- | +29.45% |
Kotak Nifty Commodities Index vs Mirae Asset Nifty Metal ETF: Rolling Returns
Every holding period of both funds, against Nifty Commodities TRI, the benchmark of Kotak Nifty Commodities Index Fund
Rolling returns
Every 1-year holding period, 152 of them, one for each trading day from 18-03-2026 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 Nifty Commodities Index Fund (Direct)
Mirae Asset Nifty Metal ETF
Nifty Commodities TRI
to
Apr 2026May 2025
to
May 2026Jun 2025
to
Jun 2026Jul 2025
to
Jul 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 Nifty Commodities Index | 8.6 | 4.6 | 15.8 | 37.5 | 24.3 | 9.2 | 0.0 | 12.0% | 12.0% | −4.8% | 23.7% | 0% |
| Mirae Asset Nifty Metal ETF | 0.0 | 0.0 | 0.0 | 3.3 | 7.2 | 6.6 | 82.9 | 37.1% | 38.0% | 10.6% | 58.3% | 100% |
| Nifty Commodities TRI | 7.9 | 4.6 | 11.8 | 35.5 | 23.0 | 16.4 | 0.7 | 12.9% | 12.9% | −4.5% | 25.0% | -- |
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. The benchmark is Nifty Commodities 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 18-03-2025. Past returns do not promise future returns.
Kotak Nifty Commodities Index vs Mirae Asset Nifty Metal 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 18-03-2025 to 30-10-2026: 20 instalments, ₹2,00,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Kotak Nifty Commodities IndexKotak Nifty Commodities Index Fund (Direct) | ₹2,00,000 | ₹1,95,758 | −₹4,242 | −2.4% |
| Mirae Asset Nifty Metal ETFMirae Asset Nifty Metal ETF | ₹2,00,000 | ₹2,23,207 | ₹23,207 | 13.2% |
Kotak Nifty Commodities IndexKotak Nifty Commodities Index Fund (Direct)
Mirae Asset Nifty Metal ETFMirae Asset Nifty Metal 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 Nifty Commodities Index vs Mirae Asset Nifty Metal ETF: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Kotak Nifty Commodities Index Fund (Direct) | Mirae Asset Nifty Metal ETF |
|---|---|---|
| Return (CAGR) | −4.81% | +10.61% |
| Standard deviation | 16.01% | 23.07% |
| Sharpe ratio | -0.63 | 0.23 |
| Sortino ratio | -0.82 | 0.31 |
| Maximum drawdown | −15.8% (23-10-2026) | −15.9% (23-10-2026) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.35% | −0.54% |
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 Nifty Commodities Index Fund (Direct) | Mirae Asset Nifty Metal ETF |
|---|---|---|
| Return (CAGR) | +6.23% | +8.30% |
| Standard deviation | 15.69% | 22.92% |
| Sharpe ratio | 0.05 | 0.11 |
| Sortino ratio | 0.07 | 0.15 |
| Maximum drawdown | −15.8% (23-10-2026) | −22.3% (07-04-2025) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.81% | −0.44% |
From daily NAVs, 18-03-2025 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 Nifty Commodities Index Fund (Direct)
Mirae Asset Nifty Metal ETF
Nifty Commodities TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Kotak Nifty Commodities Index Fund (Direct) | −15.8% | 27-05-2026 | 23-10-2026 | Not yet | -- | −14.1% |
| Mirae Asset Nifty Metal ETF | −15.9% | 27-05-2026 | 23-10-2026 | Not yet | -- | −13.7% |
| Nifty Commodities TRI | −15.7% | 27-05-2026 | 23-10-2026 | Not yet | -- | −14.1% |
From daily values since 18-03-2025, 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 Nifty Commodities Index Fund (Direct)
Mirae Asset Nifty Metal ETF
Nifty Commodities TRI
Against Nifty Commodities TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Kotak Nifty Commodities Index Fund (Direct) | 98% | 102% | 0.38% |
| Mirae Asset Nifty Metal ETF | 163% | 106% | 11.59% |
From month-end values since 18-03-2025. 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 Nifty Commodities Index vs Mirae Asset Nifty Metal ETF: Portfolio Overlap
From each fund's latest monthly portfolio: Kotak Nifty Commodities Index Fund, September 2026; Mirae Asset Nifty Metal ETF, September 2026
Holdings in common
- Overlap
- 30.6%
- Held by both
- 8
- Only in Kotak Nifty Commodities Index
- 22
- Only in Mirae Asset Nifty Metal ETF
- 7
| Security | % of Kotak Nifty Commodities Index | % of Mirae Asset Nifty Metal ETF |
|---|---|---|
| Tata Steel Ltd. | 7.38% | 17.30% |
| Hindalco Industries Ltd. | 6.58% | 15.43% |
| JSW Steel Ltd. | 5.82% | 13.65% |
| VEDANTA ALUMINIUM METAL LTD | 3.38% | 7.92% |
| VEDANTA LTD. | 2.20% | 5.16% |
| Jindal Steel & Power Ltd | 2.03% | 4.76% |
| APL Apollo Tubes Ltd | 1.92% | 4.51% |
| NMDC Ltd. | 1.28% | 2.99% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 30.6% means 30.6% 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 Nifty Commodities Index Fund
| Security | % of fund |
|---|---|
| RELIANCE INDUSTRIES LTD. | 9.92% |
| NTPC LTD | 7.40% |
| Ultratech Cement Ltd. | 6.26% |
| Grasim Industries Ltd. | 5.58% |
| Coal India Limited | 4.91% |
Largest holdings only in Mirae Asset Nifty Metal ETF
| Security | % of fund |
|---|---|
| Adani Enterprises Ltd. | 11.14% |
| National Aluminium Company Ltd. | 3.46% |
| Hindustan Zinc Ltd. | 3.08% |
| Steel Authority of India Ltd. | 2.97% |
| Lloyds Metals And Energy Ltd. | 2.92% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Kotak Nifty Commodities Index | Mirae Asset Nifty Metal ETF |
|---|---|---|
| Equity | 100.1% | 100.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | -0.1% | 0.0% |
Market cap of stocks
| Market cap | Kotak Nifty Commodities Index | Mirae Asset Nifty Metal ETF |
|---|---|---|
| Large Cap | 85.5% | 78.4% |
| Mid Cap | 14.6% | 21.6% |
| Small Cap | 0.0% | 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 Nifty Commodities Index | Mirae Asset Nifty Metal ETF |
|---|---|---|
| Ferrous Metals | 15.2% | 41.3% |
| Non - Ferrous Metals | 10.0% | 31.9% |
| Power | 22.5% | 0.0% |
| Petroleum Products | 16.9% | 0.0% |
| Cement and Cement Products | 14.4% | 0.0% |
| Metals & Minerals Trading | 0.0% | 11.1% |
| Minerals & Mining | 0.0% | 5.9% |
| Oil | 5.4% | 0.0% |
| Diversified Metals | 2.2% | 5.2% |
| Industrial Products | 1.9% | 4.5% |
The six largest sectors of each fund's stocks, % of the fund.
Kotak Nifty Commodities Index vs Mirae Asset Nifty Metal ETF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Kotak Nifty Commodities Index Fund | Mirae Asset Nifty Metal ETF |
|---|---|---|
| Total expense ratio (Direct) | 0.30% | Not available |
| Base expense ratio (Direct) | 0.17% | 0.00% |
| Total expense ratio (Regular) | 0.57% | Not available |
| Base expense ratio (Regular) | 0.40% | 0.31% |
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.
Kotak Nifty Commodities Index Fund vs Mirae Asset Nifty Metal ETF: Frequently Asked Questions
What is the difference between Kotak Nifty Commodities Index Fund and Mirae Asset Nifty Metal ETF?
Kotak Nifty Commodities Index Fund is an Index fund, Mirae Asset Nifty Metal ETF is an ETF fund, run by Kotak Mahindra Mutual Fund and Mirae Asset Mutual Fund. Their portfolios overlap 30.6%. Kotak Nifty Commodities Index Fund charges 0.30% a year and Mirae Asset Nifty Metal ETF 0.53%.
Which has given higher returns, Kotak Nifty Commodities Index Fund or Mirae Asset Nifty Metal ETF?
Over 1 year: Kotak Nifty Commodities Index Fund −4.81%, Mirae Asset Nifty Metal ETF +10.61%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Kotak Nifty Commodities Index Fund or Mirae Asset Nifty Metal ETF?
Kotak Nifty Commodities Index Fund charges less: 0.30% a year against 0.53%. These are the total expense ratios reported to AMFI.
How much do Kotak Nifty Commodities Index Fund and Mirae Asset Nifty Metal ETF overlap?
30.6%. They hold 8 of the same securities, the largest shared ones being TATASTEEL, HINDALCO, JSWSTEEL. From each fund's latest monthly portfolio.
Which is riskier, Kotak Nifty Commodities Index Fund or Mirae Asset Nifty Metal ETF?
On SEBI's riskometer, Kotak Nifty Commodities Index Fund is rated Very High and Mirae Asset Nifty Metal ETF Very High. Over 1 years, the standard deviation of daily returns was 16.01% and 23.07% a year.
Can I invest in both Kotak Nifty Commodities Index Fund and Mirae Asset Nifty Metal ETF?
Yes. 30.6% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Kotak Nifty Commodities Index Fund and Mirae Asset Nifty Metal ETF?
Kotak Nifty Commodities Index Fund: Satish DondapatiFM 2 Mr. Abhishek Bisen, Jeetu Valechha Sonar. Mirae Asset Nifty Metal ETF: Ekta Gala, amp, Akhay Udeshi.
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.