Kotak Pioneer Fund vs Nippon India Flexi Cap Fund
Direct Plan, Growth option · Data as on 29-10-2026
Kotak Pioneer Fund is a Thematic fund and Nippon India Flexi Cap Fund is a Flexi Cap fund. In the 3 years to 30-10-2026, Kotak Pioneer Fund (Direct) returned 20.0% a year and Nippon India Flexi Cap Fund (Direct) returned 9.1% a year. Kotak Pioneer Fund charges 0.63% a year and Nippon India Flexi Cap Fund 0.66% (Direct plans). Their portfolios overlap 24.3%: they hold 24 of the same securities.
Nippon India Flexi Cap Fund
Flexi Cap
- 3 year return
- 9.1%
- Expense ratio
- 0.66%
- NAV
- ₹16.77
Which is better, Kotak Pioneer or Nippon India Flexi 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 Pioneer returned more over 5 years: 13.9% a year against 9.4%.
- Kotak Pioneer returned more over 3 years: 20.0% a year against 9.1%.
- Kotak Pioneer costs less: 0.63% a year against 0.66% (Direct plans).
- Kotak Pioneer swung less over 3 years: a standard deviation of 12.9% a year against 14.5%.
- Nippon India Flexi Cap fell less in its worst fall since 18-08-2021: −19.8% against −21.7%.
- Kotak Pioneer holds 16.3% of the fund in foreign stocks; Nippon India Flexi Cap 0.0%.
- Nippon India Flexi Cap holds more in large companies: 62.9% of the fund in large caps against 25.3%.
- Nippon India Flexi Cap is the larger fund: ₹9,214 Cr against ₹4,295 Cr.
- Their portfolios overlap 24.3%: 24 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 Pioneer Fund | Nippon India Flexi Cap Fund |
|---|---|---|
| Fund house | Kotak Mahindra Mutual Fund | Nippon India Mutual Fund |
| Category | Thematic | Flexi Cap |
| AUM | ₹4,295 Cr (30-09-2026) | ₹9,214 Cr (30-09-2026) |
| NAV | ₹37.63 (Direct) | ₹16.77 (Direct) |
| Expense ratio (Direct) | 0.63% | 0.66% |
| Expense ratio (Regular) | 1.90% | 1.85% |
| Riskometer | Very High | Very High |
| Benchmark | 85% Nifty 500 TRI + 15% MSCI ACWI Information Technology Index TRI | Nifty 500 TRI |
| Launch date | 31-10-2019 | 13-08-2021 |
| Minimum investment | ₹100 | ₹500 |
| Lock in | None | None |
| Fund managers | Harish Bihani | Meenakshi Dawar, Dhrumil Shah |
| Exit load | 0.5% for redemption within 90 Days | Exit load for units in excess of 10% of the investment,1% will be charged for redemption within 365 days |
Kotak Pioneer vs Nippon India Flexi 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 Pioneer Fund (Direct) | −3.23% | −1.53% | +6.34% | +4.04% | +19.97% | +13.89% | -- |
| Nippon India Flexi Cap Fund (Direct) | −2.31% | −6.36% | −2.62% | −7.62% | +9.10% | +9.40% | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | +13.76% | +11.62% | -- |
| Flexi Cap average | −1.62% | −4.17% | +1.00% | −3.58% | +12.37% | +10.04% | -- |
Category average: the average of the 235 Thematic funds and the 46 Flexi Cap funds, same plan type.
Kotak Pioneer vs Nippon India Flexi Cap: Year-wise Returns
| Year | Kotak PioneerKotak Pioneer | Nippon India Flexi CapNippon India Flexi Cap |
|---|---|---|
| 2026to date | +6.63% | −6.70% |
| 2025 | +7.70% | +3.90% |
| 2024 | +30.41% | +16.94% |
| 2023 | +38.70% | +34.89% |
| 2022 | −6.89% | +0.74% |
| 2021 | +38.48% | -- |
Kotak Pioneer vs Nippon India Flexi Cap: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of Nippon India Flexi Cap Fund
Rolling returns
Every 3-year holding period, 544 of them, one for each trading day from 19-08-2024 to 29-10-2026: 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 Pioneer Fund (Direct)
Nippon India Flexi Cap Fund (Direct)
Nifty 500 TRI
to
Oct 2024Mar 2022
to
Mar 2025Jul 2022
to
Jul 2025Dec 2022
to
Dec 2025Apr 2023
to
Apr 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 Pioneer | 0.0 | 0.0 | 0.0 | 0.7 | 29.0 | 59.6 | 10.7 | 21.6% | 21.7% | 14.2% | 27.6% | 100% |
| Nippon India Flexi Cap | 0.0 | 0.0 | 4.6 | 28.9 | 55.1 | 11.4 | 0.0 | 16.2% | 16.7% | 8.4% | 22.7% | 87% |
| Nifty 500 TRI | 0.0 | 0.0 | 3.7 | 34.7 | 55.7 | 5.9 | 0.0 | 15.5% | 15.6% | 8.8% | 22.3% | -- |
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 500 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 18-08-2021. Past returns do not promise future returns.
Kotak Pioneer vs Nippon India Flexi 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 02-08-2021 to 29-10-2026: 63 instalments, ₹6,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Kotak PioneerKotak Pioneer Fund (Direct) | ₹6,30,000 | ₹9,63,750 | ₹3,33,750 | 16.2% |
| Nippon India Flexi CapNippon India Flexi Cap Fund (Direct) | ₹6,30,000 | ₹7,74,762 | ₹1,44,762 | 7.8% |
Kotak PioneerKotak Pioneer Fund (Direct)
Nippon India Flexi CapNippon India Flexi 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 Pioneer vs Nippon India Flexi Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Kotak Pioneer Fund (Direct) | Nippon India Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +4.04% | −7.62% |
| Standard deviation | 13.48% | 15.01% |
| Sharpe ratio | -0.09 | -0.86 |
| Sortino ratio | -0.12 | -1.14 |
| Maximum drawdown | −13.1% (30-03-2026) | −15.0% (30-03-2026) |
| Beta | -- | 1.03 |
| Alpha | -- | +0.10% |
From daily NAVs, 29-10-2025 to 29-10-2026. 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 Pioneer Fund (Direct) | Nippon India Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +19.97% | +9.10% |
| Standard deviation | 12.91% | 14.53% |
| Sharpe ratio | 1.08 | 0.21 |
| Sortino ratio | 1.53 | 0.28 |
| Maximum drawdown | −19.3% (07-04-2025) | −19.8% (28-02-2025) |
| Beta | -- | 1.00 |
| Alpha | -- | −1.13% |
From daily NAVs, 27-10-2023 to 29-10-2026. 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 Pioneer Fund (Direct) | Nippon India Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.89% | +9.40% |
| Standard deviation | 13.61% | 14.70% |
| Sharpe ratio | 0.59 | 0.25 |
| Sortino ratio | 0.82 | 0.33 |
| Maximum drawdown | −21.7% (20-06-2022) | −19.8% (28-02-2025) |
| Beta | -- | 1.00 |
| Alpha | -- | +0.58% |
From daily NAVs, 29-10-2021 to 29-10-2026. 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 Pioneer Fund (Direct) | Nippon India Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +20.88% | +10.27% |
| Standard deviation | 15.66% | 14.60% |
| Sharpe ratio | 1.01 | 0.31 |
| Sortino ratio | 1.38 | 0.42 |
| Maximum drawdown | −35.7% (23-03-2020) | −19.8% (28-02-2025) |
| Beta | -- | 1.00 |
| Alpha | -- | +0.33% |
From daily NAVs, 06-11-2019 to 29-10-2026. 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 Pioneer Fund (Direct)
Nippon India Flexi Cap Fund (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Kotak Pioneer Fund (Direct) | −21.7% | 16-11-2021 | 20-06-2022 | 05-06-2023 | 11 months | −6.5% |
| Nippon India Flexi Cap Fund (Direct) | −19.8% | 23-09-2024 | 28-02-2025 | Not yet | -- | −10.6% |
| Nifty 500 TRI | −18.6% | 26-09-2024 | 28-02-2025 | Not yet | -- | −8.8% |
From daily values since 18-08-2021, 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 Pioneer Fund (Direct)
Nippon India Flexi Cap Fund (Direct)
Nifty 500 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 Pioneer Fund (Direct)
Nippon India Flexi Cap Fund (Direct)
Nifty 500 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 Pioneer Fund (Direct)
Nippon India Flexi Cap Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Kotak Pioneer Fund (Direct) | 106% | 76% | 7.46% |
| Nippon India Flexi Cap Fund (Direct) | 98% | 93% | 3.48% |
From month-end values since 18-08-2021. 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 Pioneer vs Nippon India Flexi Cap: Portfolio Overlap
From each fund's latest monthly portfolio: Kotak Pioneer Fund, September 2026; Nippon India Flexi Cap Fund, September 2026
Holdings in common
- Overlap
- 24.3%
- Held by both
- 24
- Only in Kotak Pioneer
- 29
- Only in Nippon India Flexi Cap
- 61
| Security | % of Kotak Pioneer | % of Nippon India Flexi Cap |
|---|---|---|
| ICICI BANK LTD. | 2.66% | 7.07% |
| ETERNAL LIMITED | 5.53% | 2.21% |
| RELIANCE INDUSTRIES LTD. | 1.77% | 3.39% |
| Mahindra & Mahindra Ltd. | 1.58% | 2.36% |
| Inter Globe Aviation Ltd | 2.41% | 1.56% |
| Maruti Suzuki India Limited | 2.01% | 1.35% |
| MANKIND PHARMA LTD | 1.27% | 1.87% |
| Avenue Supermarts Ltd | 1.32% | 1.15% |
| Info Edge India Ltd. | 1.79% | 0.93% |
| GODREJ CONSUMER PRODUCTS LTD. | 1.22% | 0.93% |
| SWIGGY LTD | 0.92% | 1.26% |
| HAPPY FORGINGS LTD | 1.17% | 0.89% |
| HDFC BANK LTD. | 0.87% | 5.84% |
| Dixon Technologies India Ltd | 1.63% | 0.83% |
| VISHAL MEGA MART LIMITED | 1.42% | 0.74% |
| PB Fintech Ltd. | 1.53% | 0.73% |
| BHARTI HEXACOM LTD. | 2.05% | 0.68% |
| TITAN COMPANY LTD. | 1.82% | 0.60% |
| KFIN TECHNOLOGIES LTD. | 1.37% | 0.58% |
| APTUS VALUE HOUSING FINANCE | 0.80% | 0.57% |
| TRENT LTD | 0.43% | 1.06% |
| SBI Life Insurance Company Ltd | 1.19% | 0.41% |
| Cyient Ltd. | 0.48% | 0.36% |
| Medplus Health Services Ltd. | 0.60% | 0.32% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 24.3% means 24.3% 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 Pioneer Fund
| Security | % of fund |
|---|---|
| INDO-MIM LTD | 4.92% |
| LENSKART SOLUTIONS LIMITED | 3.65% |
| ASTER DM HEALTHCARE LTD | 2.94% |
| ADITYA INFOTECH LIMITED | 2.90% |
| CAPILLARY TECHNOLOGIES | 2.15% |
Largest holdings only in Nippon India Flexi Cap Fund
| Security | % of fund |
|---|---|
| Axis Bank Limited | 3.91% |
| Larsen & Toubro Limited | 2.64% |
| Samvardhana Motherson International Limited | 2.28% |
| State Bank of India | 1.99% |
| Kirloskar Oil Engines Limited | 1.98% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Kotak Pioneer | Nippon India Flexi Cap |
|---|---|---|
| Equity | 93.5% | 99.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 6.5% | 1.0% |
Market cap of stocks
| Market cap | Kotak Pioneer | Nippon India Flexi Cap |
|---|---|---|
| Large Cap | 25.3% | 62.9% |
| Mid Cap | 26.6% | 21.4% |
| Small Cap | 19.6% | 14.6% |
| Foreign stocks | 16.3% | 0.0% |
| Not on AMFI's list | 5.7% | 0.1% |
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 Pioneer | Nippon India Flexi Cap |
|---|---|---|
| Banks | 3.5% | 21.0% |
| Overseas Mutual Fund | 16.3% | 0.0% |
| Retailing | 15.9% | 8.2% |
| Industrial Manufacturing | 7.8% | 1.5% |
| Healthcare Services | 6.8% | 1.2% |
| Pharmaceuticals & Biotechnology | 0.0% | 5.5% |
| IT - Software | 2.1% | 5.5% |
| Automobiles | 4.5% | 3.7% |
| Auto Components | 4.5% | 3.5% |
| Petroleum Products | 1.8% | 4.4% |
| Finance | 0.8% | 4.2% |
The six largest sectors of each fund's stocks, % of the fund.
Kotak Pioneer vs Nippon India Flexi Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Kotak Pioneer Fund | Nippon India Flexi Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.63% | 0.66% |
| Base expense ratio (Direct) | 0.48% | 0.48% |
| Total expense ratio (Regular) | 1.90% | 1.85% |
| Base expense ratio (Regular) | 1.57% | 1.52% |
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 Pioneer with
Kotak Pioneer Fund vs Nippon India Flexi Cap Fund: Frequently Asked Questions
What is the difference between Kotak Pioneer Fund and Nippon India Flexi Cap Fund?
Kotak Pioneer Fund is a Thematic fund, Nippon India Flexi Cap Fund is a Flexi Cap fund, run by Kotak Mahindra Mutual Fund and Nippon India Mutual Fund. Their portfolios overlap 24.3%. Kotak Pioneer Fund charges 0.63% a year and Nippon India Flexi Cap Fund 0.66%.
Which has given higher returns, Kotak Pioneer Fund or Nippon India Flexi Cap Fund?
Over 1 year: Kotak Pioneer Fund +4.04%, Nippon India Flexi Cap Fund −7.62%. Over 3 years: Kotak Pioneer Fund +19.97% a year, Nippon India Flexi Cap Fund +9.10% a year. Over 5 years: Kotak Pioneer Fund +13.89% a year, Nippon India Flexi Cap Fund +9.40% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Kotak Pioneer Fund or Nippon India Flexi Cap Fund?
Kotak Pioneer Fund charges less: 0.63% a year against 0.66%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Kotak Pioneer Fund and Nippon India Flexi Cap Fund overlap?
24.3%. They hold 24 of the same securities, the largest shared ones being ICICIBANK, ETERNAL, RELIANCE. From each fund's latest monthly portfolio.
Which is riskier, Kotak Pioneer Fund or Nippon India Flexi Cap Fund?
On SEBI's riskometer, Kotak Pioneer Fund is rated Very High and Nippon India Flexi Cap Fund Very High. Over 3 years, the standard deviation of daily returns was 12.91% and 14.53% a year.
Which is better for SIP, Kotak Pioneer Fund or Nippon India Flexi Cap Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 29-10-2026 grew to ₹9,22,097 in Kotak Pioneer Fund (XIRR 16.3% a year) and ₹7,41,931 in Nippon India Flexi Cap Fund (XIRR 7.6% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Kotak Pioneer Fund and Nippon India Flexi Cap Fund?
Yes. 24.3% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Kotak Pioneer Fund and Nippon India Flexi Cap Fund?
Kotak Pioneer Fund: Harish Bihani. Nippon India Flexi Cap Fund: Meenakshi Dawar, Dhrumil Shah.
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.