Kotak Nifty Financial Services Ex-Bank Index Fund

IndexDirect and Regular plans, Growth and IDCW options

Data as on 30-10-2026

Kotak Nifty Financial Services Ex-Bank Index Fund is a mutual fund run by Kotak Mahindra Mutual Fund. On 30-09-2026, it managed ₹91 Cr of investors' money. In the 3 years to 30-10-2026, its Direct plan returned 12.5% a year and its Regular plan returned 11.9% a year. Its benchmark, Nifty Financial Services Ex-Bank TRI, returned 13.3% a year over the same 3 years.

NAV (Direct plan): ₹14.90; ▼ 1.01%30-10-2026
NAV (Regular plan): ₹14.64; ▼ 1.01%30-10-2026
Expense ratio: 0.32%Direct0.82%Regular; 0.32%; A year
Riskometer: Very High; Set by the fund house
3 year return: 12.5%Direct11.9%Regular; 12.5%; A year

Kotak Nifty Financial Services Ex-Bank Index Fund NAV Today

NAV on 30-10-2026: Direct Plan Growth ₹14.90 (down 1.01% that day); Regular Plan Growth ₹14.64 (down 1.01% that day).

This fund (Direct plan)

₹14.895

Kotak Nifty Financial Services Ex-Bank Index Fund Returns vs Nifty Financial Services Ex-Bank TRI

Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.

Trailing returns
Period	1M	3M	6M	1Y	3Y	5Y	10Y
This fund (Direct)	−3.15%	−10.33%	−7.20%	−9.03%	+12.54%	--	--
This fund (Regular)	−3.19%	−10.44%	−7.44%	−9.50%	+11.94%	--	--
Nifty Financial Services Ex-Bank TRI	−3.12%	−10.28%	−7.10%	−8.42%	+13.26%	--	--
Category average	--	--	--	--	--	--	--
Best in category	--	--	--	--	--	--	--
Worst in category	--	--	--	--	--	--	--
Rank in category	--	--	--	--	--	--	--

No category comparison is shown: this fund's category is too broad to compare, or has fewer than five funds.

Kotak Nifty Financial Services Ex-Bank Index Fund Year-wise Returns

Return of each calendar year
Year	Direct	Regular	Nifty Financial Services Ex-Bank TRI
2026to date	−10.66%	−11.05%	−10.12%
2025	+27.43%	+26.78%	+28.16%
2024	+13.53%	+12.91%	+14.22%

Kotak Nifty Financial Services Ex-Bank Index Fund Rolling Returns

The return of every holding period in the fund's history, not only the one that ends today

Rolling returns

Each point is the yearly return of one 3-year holding period, plotted on the day it ended. There are 46 periods, one for each trading day from 21-08-2026 to 30-10-2026.

0%5%10%15%20%25%

Aug 2023
to
Aug 2026Sept 2023
to
Sept 2026Sept 2023
to
Sept 2026Oct 2023
to
Oct 2026Oct 2023
to
Oct 2026Oct 2023
to
Oct 2026

Kotak Nifty Financial Services Ex-Bank Index Fund (Direct)Nifty Financial Services Ex-Bank TRI

Every holding period at a glance

Period	Periods	Median	Lowest	Highest	With a loss	Benchmark median	Beat benchmark
1 year	541	16.8%	−10.2%	39.3%	4%	17.6%	0%
2 years	292	16.5%	2.1%	25.3%	0%	17.3%	0%
3 years	46	14.7%	11.3%	19.5%	0%	15.7%	0%

Period	Periods	Median	Lowest	Highest	With a loss	Benchmark median	Beat benchmark
1 year	27	13.8%	−12.3%	41.8%	11%	14.6%	0%

Lumpsum: the yearly rate (CAGR) from the NAV on a period's first day to the NAV on its last. SIP: the XIRR of the monthly instalments and their value on the last day. "With a loss" counts the periods that ended below the money put in. "Beat benchmark" counts the periods in which the fund did better than Nifty Financial Services Ex-Bank TRI over the same days. Past returns do not promise future returns.

Kotak Nifty Financial Services Ex-Bank Index Fund Risk

How much it swings, and the falls an investor had to sit through

Risk and return

Measure	Kotak Nifty Financial Services Ex-Bank Index Fund (Direct)This fund	Nifty Financial Services Ex-Bank TRI
Return (CAGR)	−9.03%	−8.42%
Standard deviation	21.45%	21.48%
Sharpe ratio	-0.67	-0.64
Sortino ratio	-0.92	-0.88
Maximum drawdown	−17.1% (30-03-2026)	−16.7% (30-03-2026)
Beta	1.00	1.00
Alpha	−0.59%	0.00%

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: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.

Measure	Kotak Nifty Financial Services Ex-Bank Index Fund (Direct)This fund	Nifty Financial Services Ex-Bank TRI
Return (CAGR)	+12.54%	+13.26%
Standard deviation	20.00%	20.04%
Sharpe ratio	0.33	0.36
Sortino ratio	0.46	0.50
Maximum drawdown	−17.1% (30-03-2026)	−16.7% (30-03-2026)
Beta	1.00	1.00
Alpha	−0.72%	0.00%

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: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.

Measure	Kotak Nifty Financial Services Ex-Bank Index Fund (Direct)This fund	Nifty Financial Services Ex-Bank TRI
Return (CAGR)	+13.29%	+14.31%
Standard deviation	19.71%	19.77%
Sharpe ratio	0.37	0.42
Sortino ratio	0.51	0.58
Maximum drawdown	−17.1% (30-03-2026)	−16.7% (30-03-2026)
Beta	1.00	1.00
Alpha	−1.01%	0.00%

From daily NAVs, 21-08-2023 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: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.

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.

−20%−15%−10%−5%0%

202420252026

Kotak Nifty Financial Services Ex-Bank Index Fund (Direct)Nifty Financial Services Ex-Bank TRI

	Worst fall	High before it	Bottom	Back at the high	Time to climb back	Below its high today
Kotak Nifty Financial Services Ex-Bank Index Fund (Direct)	−17.1%	06-01-2026	30-03-2026	31-07-2026	4 months	−14.0%
Nifty Financial Services Ex-Bank TRI	−16.7%	06-01-2026	30-03-2026	13-07-2026	3 months	−14.0%

From the Direct plan's daily NAV since 21-08-2023, adjusted for unit splits, and Nifty Financial Services Ex-Bank TRI over the same days. "Time to climb back" runs from the bottom to the first day back at the old high.

Kotak Nifty Financial Services Ex-Bank Index Fund Expense Ratio and Costs

What each plan charges a year, in force from 01-10-2026

Plan	Base expense ratio	Brokerage	Transaction costs	Levies and GST	Total expense ratio
Direct	0.18%	0.01%	0.00%	0.12%	0.32%
Regular	0.61%	0.01%	0.00%	0.20%	0.82%

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, the cost of executing trades, and statutory levies with GST. From AMFI's expense ratio file.

Direct vs Regular: what the gap cost

Both plans own the same portfolio, so the difference in what they earned is the Regular plan's extra cost, taken out of its NAV.

Over the last	Regular	Direct	Direct earned more by	₹1 lakh became (Regular)	₹1 lakh became (Direct)
1 year	−9.50%	−9.03%	0.47%	₹90,500	₹90,970
3 years	11.94%	12.54%	0.60% a year	₹1,40,267	₹1,42,535

Returns over more than 1 year are a rate a year (CAGR). ₹1 lakh invested once at the start of each period, valued on the last NAV.

Kotak Nifty Financial Services Ex-Bank Index Fund SIP Calculator

What a one-time or monthly investment in this fund would be worth today, from its own NAV history

Growth of an investment

Every month₹

Step up each year

PeriodFor

₹10,000 on the first trading day of every month, from 21-08-2023 to 30-10-2026: 39 instalments, ₹3,90,000 in all.

Investment	Invested	Value now	Gain	Return a year
Direct planKotak Nifty Financial Services Ex-Bank Index Fund (Direct)	₹3,90,000	₹4,26,245	₹36,245	5.4%
Regular planKotak Nifty Financial Services Ex-Bank Index Fund (Regular)	₹3,90,000	₹4,22,268	₹32,268	4.8%
Nifty Financial Services Ex-Bank TRI	₹3,90,000	₹4,31,208	₹41,208	6.1%

₹0₹1.0 L₹2.0 L₹3.0 L₹4.0 L₹5.0 L

202420252026

Direct planKotak Nifty Financial Services Ex-Bank Index Fund (Direct)Regular planKotak Nifty Financial Services Ex-Bank Index Fund (Regular)Nifty Financial Services Ex-Bank TRIAmount invested

From each plan's published NAV (Growth option), the benchmark's TRI, 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 Financial Services Ex-Bank Index Fund Asset Allocation

Asset allocation as on 30-09-2026

What the fund holds

100.0%Equity

Asset	Fund
Equity	100.0%

Market cap of stocks

Market cap	Fund
Large Cap	68.8%
Mid Cap	25.6%
Small Cap	5.7%

Share of the whole fund. Groups follow AMFI's latest list, as SEBI defines them: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.

Kotak Nifty Financial Services Ex-Bank Index Fund Sector Allocation

Sector allocation of the fund's stocks as on 30-09-2026

Largest sectors

Finance56.1%
Capital Markets20.6%
Insurance16.6%
Financial Technology (Fintech)6.7%

Sector changes

Sector	July 2026	August 2026	September 2026	Change
Finance	58.8%	56.3%	56.1%	−2.6%
Capital Markets	20.2%	20.2%	20.6%	+0.4%
Insurance	14.6%	16.0%	16.6%	+2.0%
Financial Technology (Fintech)	6.2%	7.5%	6.7%	+0.5%

Each sector's share of the fund at the end of each month. The five largest sectors of September 2026. Change: from July 2026 to September 2026, in % of the fund.

Kotak Nifty Financial Services Ex-Bank Index Fund Portfolio Holdings

As on 30-09-2026 · 30 holdings · from the fund house's monthly portfolio

Holdings	Sector	Weight%	1M change
BAJAJ FINANCE LTD.	Finance	15.82%	+2.6%
SHRIRAM FINANCE LIMITED	Finance	8.32%	+0.8%
BSE LTD	Capital Markets	7.64%	+0.8%
Bajaj Finserv Ltd.	Finance	6.08%	+1.2%
MULTI COMMODITY EXCHANGE OF INDIA LIMITED	Capital Markets	5.09%	+0.8%
SBI Life Insurance Company Ltd	Insurance	4.61%	+0.8%
One 97 Communications Ltd	Financial Technology (Fintech)	4.37%	+3.1%
JIO FINANCIAL SERVICES LTD	Finance	4.30%	+0.8%
CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LTD.	Finance	4.25%	+1.1%
HDFC Life Insurance Company Ltd	Insurance	3.39%	+0.8%
Life Insurance Corporation Of India	Insurance	3.03%	+0.8%
Power Finance Corporation Ltd.	Finance	2.86%	+0.8%
Bajaj Holdings and Investment Ltd	Finance	2.82%	+0.8%
HDFC ASSET MANAGEMENT COMPANY LTD.	Capital Markets	2.82%	+1.0%
ICICI Lombard General Insurance Company Ltd	Insurance	2.34%	+1.0%
PB Fintech Ltd.	Financial Technology (Fintech)	2.28%	+3.4%
REC LTD	Finance	2.26%	+0.8%
Max Financial Services Ltd	Insurance	2.20%	+0.8%
ADITYA BIRLA CAPITAL LTD	Finance	1.96%	+4.3%
MUTHOOT FINANCE LTD.	Finance	1.77%	+0.8%
360 ONE WAM LIMITED	Capital Markets	1.64%	+2.2%
L&T FINANCE LTD	Finance	1.37%	+0.9%
Central Depository Services (India) Ltd	Capital Markets	1.36%	+0.8%
PNB HOUSING FINANCE LTD.	Finance	1.27%	+0.9%
ANGEL ONE LIMITED	Capital Markets	1.08%	+1.3%
INDIAN RAILWAY FINANCE CORPORATION LTD.	Finance	1.07%	+12.3%
ICICI Prudential Life Insurance Co. Ltd.	Insurance	1.06%	+1.2%
SBI CARDS & PAYMENT SERVICES PVT. LTD.	Finance	1.04%	+1.0%
Computer Age Management Services Limited	Capital Markets	0.98%	+1.0%
LIC HOUSING FINANCE LTD.	Finance	0.96%	+0.8%

Kotak Nifty Financial Services Ex-Bank Index Fund Stocks Bought and Sold

All changes are between August 2026 and September 2026

Stocks bought and sold in September 2026

BAJAJ FINANCE LTD.	Added	+2.6%	15.82%
SHRIRAM FINANCE LIMITED	Added	+0.8%	8.32%
BSE LTD	Added	+0.8%	7.64%
Bajaj Finserv Ltd.	Added	+1.2%	6.08%
MULTI COMMODITY EXCHANGE OF INDIA LIMITED	Added	+0.8%	5.09%
SBI Life Insurance Company Ltd	Added	+0.8%	4.61%
CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LTD.	Added	+1.1%	4.25%
One 97 Communications Ltd	Added	+3.1%	4.37%
JIO FINANCIAL SERVICES LTD	Added	+0.8%	4.30%
PB Fintech Ltd.	Added	+3.4%	2.28%
HDFC Life Insurance Company Ltd	Added	+0.8%	3.39%
Life Insurance Corporation Of India	Added	+0.8%	3.03%
HDFC ASSET MANAGEMENT COMPANY LTD.	Added	+1.0%	2.82%
Power Finance Corporation Ltd.	Added	+0.8%	2.86%
Bajaj Holdings and Investment Ltd	Added	+0.8%	2.82%
ICICI Lombard General Insurance Company Ltd	Added	+1.0%	2.34%
Max Financial Services Ltd	Added	+0.8%	2.20%
REC LTD	Added	+0.8%	2.26%
ADITYA BIRLA CAPITAL LTD	Added	+4.3%	1.96%
MUTHOOT FINANCE LTD.	Added	+0.8%	1.77%
360 ONE WAM LIMITED	Added	+2.2%	1.64%
L&T FINANCE LTD	Added	+0.9%	1.37%
Central Depository Services (India) Ltd	Added	+0.8%	1.36%
PNB HOUSING FINANCE LTD.	Added	+0.9%	1.27%
ICICI Prudential Life Insurance Co. Ltd.	Added	+1.2%	1.06%
ANGEL ONE LIMITED	Added	+1.3%	1.08%
INDIAN RAILWAY FINANCE CORPORATION LTD.	Added	+12.3%	1.07%
SBI CARDS & PAYMENT SERVICES PVT. LTD.	Added	+1.0%	1.04%
Computer Age Management Services Limited	Added	+1.0%	0.98%
LIC HOUSING FINANCE LTD.	Added	+0.8%	0.96%

A change is counted by the number of shares the fund holds, not by price. A stock can become a smaller part of the fund in a month when the fund bought more of it, if its price fell. Debt papers are left out.

What Kotak Nifty Financial Services Ex-Bank Index Fund bought and sold

Kotak Nifty Financial Services Ex-Bank Index Fund Portfolio Overlap

Funds with the most similar portfolios, across every fund house and category

Fund	Overlap	Holdings in common
ICICI Prudential Nifty Financial Services Ex-Bank ETFETF · ICICI Prudential	99.9%	30	Compare
Motilal Oswal BSE Financials ex Bank 30 Index FundIndex · Motilal Oswal	87.7%	25	Compare
Mirae Asset Nifty Financial Services ETFETF · Mirae Asset	36.9%	15	Compare
Tata NIFTY Financial Services Index FundIndex · Tata	36.9%	15	Compare
Motilal Oswal Nifty MidSmall Financial Services Index FundIndex · Motilal Oswal	34.3%	17	Compare
MahindraManulife Banking & Financial Services FundSectoral · Mahindra Manulife	33.4%	14	Compare
Edelweiss Financial Services FundThematic · Edelweiss	31.6%	14	Compare
Baroda BNP Paribas Banking and Financial Services FundThematic · Baroda BNP Paribas	31.4%	15	Compare

Overlap: for each holding both funds own, the smaller of its two weights, added up. 40% means 40% of each fund's money sits in positions the other also holds. From each fund's latest monthly portfolio, matched by ISIN. Cash and hedged positions are left out. Funds that overlap under 10% are not listed. A high overlap does not make two funds the same: their costs, lock-in and category can differ.

Kotak Nifty Financial Services Ex-Bank Index Fund Overview

Fund facts from the scheme summary document, as on 16-10-2026

Expense ratio (Direct): 0.32%
Expense ratio (Regular): 0.82%
Category: Index
Risk: Very High
Benchmark: Nifty Financial Services Ex-Bank TRI
Launch date: 14-08-2023
Minimum investment: ₹100
Minimum additional investment: ₹100
AUM: ₹91.11 Cr (30-09-2026)
Lock in: None
Scheme code (Direct): 151911
ISIN (Direct): INF174KA1OR7
Scheme code (Regular): 151909
ISIN (Regular): INF174KA1OO4
NAV history: From 21-08-2023, 3.2 years

Exit load: Nil

Tax on Kotak Nifty Financial Services Ex-Bank Index Fund returns

Kotak Nifty Financial Services Ex-Bank Index Fund is taxed as an equity fund: 65% or more of it is in Indian stocks.
Units sold within 1 year: the gain is taxed at 20%.
Units held longer: gains above ₹1.25 lakh in a financial year, across all your equity funds and shares, are taxed at 12.5%.
IDCW (dividend) payouts are added to your income and taxed at your slab rate.
A stamp duty of 0.005% is deducted when you invest.

Rules in force from 23-07-2024 (Finance Act 2024). Tax depends on your own income; this is general information, not tax advice.

All plans and options

Plan	Option	NAV	As on
direct	Growth	₹14.895	30-10-2026
direct	IDCW	₹14.894	30-10-2026
regular	Growth	₹14.638	30-10-2026
regular	IDCW	₹14.638	30-10-2026

About Kotak Nifty Financial Services Ex-Bank Index Fund

Kotak Nifty Financial Services Ex-Bank Index Fund is a mutual fund from Kotak Mahindra Mutual Fund. Its category is Index. It was launched on 14-08-2023. Its benchmark is Nifty Financial Services Ex-Bank TRI. At the end of September 2026 it held 30 securities.

Fund Manager

Satish DondapatiFM 2 Mr. Abhishek Bisen
Fund manager of Kotak Nifty Financial Services Ex-Bank Index Fund, since 14-08-2023
Jeetu Valechha Sonar
Fund manager of Kotak Nifty Financial Services Ex-Bank Index Fund, since 09-03-2026

See all funds of Kotak Mahindra Mutual Fund

AUM change

September 2026: ₹91.11 Cr; −8.14% from August 2026
August 2026: ₹99.18 Cr; −0.17% from July 2026
July 2026: ₹99.35 Cr; −0.75% from June 2026

AUM moves with money invested or taken out, and with the value of what the fund holds.

Compare Kotak Nifty Financial Services Ex-Bank Index Fund with Other Funds

Returns, risk, costs and the stocks they share, side by side

Compare with any other fund

Frequently Asked Questions for Kotak Nifty Financial Services Ex-Bank Index Fund

What is the current NAV of Kotak Nifty Financial Services Ex-Bank Index Fund?

The Direct plan NAV is ₹14.895. The Regular plan NAV is ₹14.638, as on 30-10-2026.

What are the returns of Kotak Nifty Financial Services Ex-Bank Index Fund?

The Direct plan returned −9.03% in 1 year, +12.54% a year over 3 years. The Regular plan returned −9.50% in 1 year, +11.94% a year over 3 years. These figures are as on 30-10-2026.

What is the expense ratio of Kotak Nifty Financial Services Ex-Bank Index Fund?

The Direct plan charges 0.32% a year. The Regular plan charges 0.82% a year. This is the figure the fund house reported to AMFI, in force from 01-10-2026.

What is the AUM of Kotak Nifty Financial Services Ex-Bank Index Fund?

Kotak Nifty Financial Services Ex-Bank Index Fund managed ₹91.11 Cr on 30-09-2026, as its fund house reported in its monthly portfolio.

What are the top holdings of Kotak Nifty Financial Services Ex-Bank Index Fund?

At the end of September 2026 the largest holdings were BAJFINANCE (15.82%), SHRIRAMFIN (8.32%), BSE (7.64%), BAJAJFINSV (6.08%), MCX (5.09%). The fund held 30 securities in all.

What did Kotak Nifty Financial Services Ex-Bank Index Fund buy and sell in September 2026?

It added shares in 30.

How do I invest in Kotak Nifty Financial Services Ex-Bank Index Fund?

Through Kotak Mahindra Mutual Fund's website or app, a mutual fund distributor, or an investment platform. Choose the Direct plan to pay no distributor commission, or the Regular plan to invest through a distributor. The first investment is at least ₹100. You can invest once or through a monthly SIP.

Who is the fund manager of Kotak Nifty Financial Services Ex-Bank Index Fund?

Satish DondapatiFM 2 Mr. Abhishek Bisen (since 14-08-2023), Jeetu Valechha Sonar (since 09-03-2026).

Sources: NAV and expense ratio from AMFI. Holdings from the fund house's monthly portfolio statement. Fund facts from its scheme summary document, as on 16-10-2026.

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.