Axis India Manufacturing Fund vs Kotak Manufacture in India Fund
Axis India Manufacturing Fund and Kotak Manufacture in India Fund are both Manufacturing Funds. As of 6 Nov 2026 (Direct plan, Growth option): 3-year CAGR — vs +20.65%, 5-year CAGR — vs —, volatility 16.95% vs 17.45%, maximum drawdown −22.99% vs −22.27%. Their portfolios overlap by 40.4% (28 stocks held by both).
Showing the Direct plan, Growth option. Portfolio, sector and market-cap figures are the same for every plan and option of a fund.
Key facts
| Axis India Manufacturing | Kotak Manufacture in India | |
|---|---|---|
| Fund house | Axis Mutual Fund | Kotak Mahindra Mutual Fund |
| Compared as | Manufacturing Funds | Manufacturing Funds |
| NAV | ₹16.5500 | ₹23.6240 |
| NAV date | 6 Nov 2026 | 6 Nov 2026 |
| Launched (first NAV) | 27 Dec 2023 | 2 Mar 2022 |
| Track record | 2.9 yrs | 4.7 yrs |
| Fund size (AUM) | ₹5,540 Cr | ₹3,132 Cr |
| Securities held | 73 | 60 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| Axis India Manufacturing | Kotak Manufacture in India | |
|---|---|---|
| 1 month | +1.10% | +0.21% |
| 3 months | −1.49% | −1.11% |
| 6 months | +6.09% | +6.83% |
| 1 year | +14.30% | +14.46% |
| 3 years (CAGR) | — | +20.65% |
| 5 years (CAGR) | — | — |
| 7 years (CAGR) | — | — |
| 10 years (CAGR) | — | — |
| Since launch (CAGR) | +18.72% | +20.13% |
| SIP return (XIRR, 5 years) ⓘ | — | — |
Up to one year: absolute return. Beyond one year: CAGR. Computed from each fund's own NAV history (AMFI), measured to the latest NAV.
Calendar-year returns
| Axis India Manufacturing | Kotak Manufacture in India | |
|---|---|---|
| 2026 (year to date) | +13.82% | +12.43% |
| 2025 | +5.06% | +9.02% |
| 2024 | +35.55% | +27.83% |
| 2023 | — | +34.40% |
Risk
| Axis India Manufacturing | Kotak Manufacture in India | |
|---|---|---|
| Volatility (annualised) ⓘ | 16.95% | 17.45% |
| Downside volatility ⓘ | 11.30% | 11.69% |
| Sharpe ratio ⓘ | 0.72 | 0.81 |
| Sortino ratio ⓘ | 1.08 | 1.21 |
| Maximum drawdown ⓘ | −22.99% | −22.27% |
| Recovery from that fall | 14 months | 7 months |
| Current fall from peak | −3.67% | −2.64% |
| Rolling 1-year return: worst | −5.53% | −3.84% |
| Rolling 1-year return: median | +9.56% | +18.41% |
| Rolling 1-year return: best | +37.73% | +58.84% |
| Share of 1-year periods with a loss | 15.42% | 5.64% |
Against each fund's benchmark
| Axis India Manufacturing | Kotak Manufacture in India | |
|---|---|---|
| Beta ⓘ | 1.02 | 1.01 |
| Alpha (Jensen's, annualised) ⓘ | +11.06% | +8.02% |
| R² ⓘ | 80.14 | 81.82 |
| Upside capture | 145.36% | 128.51% |
| Downside capture | 93.97% | 95.74% |
| Tracking error | 7.65% | 7.48% |
| Information ratio | 1.54 | 1.18 |
| Treynor ratio | 10.32 | 12.33 |
Portfolio
Asset mix
| Axis India Manufacturing | Kotak Manufacture in India | |
|---|---|---|
| Equity | 96.93% | 95.86% |
| Cash & equivalents | 3.10% | 3.67% |
| Mutual Fund Units | 0.00% | 0.47% |
Market-cap split (share of fund assets)
| Axis India Manufacturing | Kotak Manufacture in India | |
|---|---|---|
| Large Cap | 50.85% | 38.64% |
| Mid Cap | 19.04% | 18.60% |
| Small Cap | 22.62% | 31.11% |
| Unclassified | 4.42% | 7.51% |
Concentration
| Axis India Manufacturing | Kotak Manufacture in India | |
|---|---|---|
| Top 10 holdings | 30.91% | 34.30% |
| Effective number of stocks ⓘ | 52.1 | 47.2 |
| Securities held | 73 | 60 |
Portfolio overlap: 40.4%
28 companies are held by both funds; by weight, 40.4% of the two portfolios is the same. That is a moderate overlap.
| Held by both | Axis India Manufacturing | Kotak Manufacture in India |
|---|---|---|
| Sun Pharmaceutical Industries Limited | 3.61% | 4.35% |
| Divi's Laboratories Limited | 3.57% | 3.71% |
| Mahindra & Mahindra Limited | 4.82% | 3.53% |
| Reliance Industries Limited | 2.81% | 2.84% |
| TVS Motor Company Ltd. | 2.81% | 3.28% |
| Bharat Electronics Limited | 2.95% | 2.51% |
| Hindalco Industries Limited | 2.26% | 2.41% |
| Maruti Suzuki India Limited | 1.76% | 2.48% |
| Solar Industries India Limited | 1.78% | 1.67% |
| INDO-MIM Ltd. | 1.49% | 3.27% |
| Tata Steel Ltd. | 1.46% | 3.41% |
| UltraTech Cement Limited | 1.37% | 1.49% |
| Sansera Engineering Limited | 2.05% | 1.30% |
| Dixon Technologies (India) Limited | 1.24% | 2.09% |
| Schaeffler India Ltd. | 1.07% | 1.12% |
Top 10 holdings
Axis India Manufacturing
- Mahindra & Mahindra Limited4.82%
- Sun Pharmaceutical Industries Limited3.61%
- Divi's Laboratories Limited3.57%
- Sona BLW Precision Forgings Limited3.21%
- Bharat Electronics Limited2.95%
- Reliance Industries Limited2.81%
- TVS Motor Company Ltd.2.81%
- Bharat Heavy Electricals Limited2.48%
- Cummins India Limited2.39%
- Hindalco Industries Limited2.26%
Kotak Manufacture in India
- Sun Pharmaceutical Industries Limited4.35%
- Rubicon Research Limited4.31%
- Divi's Laboratories Limited3.71%
- Mahindra & Mahindra Limited3.53%
- Tata Steel Ltd.3.41%
- TVS Motor Company Ltd.3.28%
- INDO-MIM Ltd.3.27%
- DEE DEVELOPMENT ENGINEERS LTD2.92%
- Reliance Industries Limited2.84%
- Hero MotoCorp Limited2.68%
Sector exposure
| Axis India Manufacturing | Kotak Manufacture in India | |
|---|---|---|
| Pharmaceuticals & Biotechnology | 14.94% | 17.80% |
| Auto Components | 15.38% | 6.36% |
| Electrical Equipment | 14.53% | 4.76% |
| Automobiles | 14.52% | 13.68% |
| Industrial Manufacturing | 3.00% | 10.99% |
| Industrial Products | 7.40% | 7.89% |
| Aerospace & Defense | 5.29% | 4.11% |
| Petroleum Products | 3.83% | 5.13% |
| Ferrous Metals | 3.59% | 4.32% |
| Consumer Durables | 4.14% | 2.09% |
| Non - Ferrous Metals | 3.58% | 2.41% |
| Chemicals & Petrochemicals | 3.51% | 2.46% |
| Cement & Cement Products | 1.37% | 3.46% |
| Food Products | 0.00% | 2.65% |
Questions people ask
What is the difference between Axis India Manufacturing and Kotak Manufacture in India returns?
As of 6 Nov 2026, Direct plan Growth option: 1-year return +14.30% vs +14.46%; 3-year CAGR — vs +20.65%; 5-year CAGR — vs —; 10-year CAGR — vs —. Past returns do not indicate future returns.
How do Axis India Manufacturing and Kotak Manufacture in India compare on risk?
Volatility (36 monthly returns, annualised) 16.95% vs 17.45%; Sharpe ratio 0.72 vs 0.81; Sortino ratio 1.08 vs 1.21; maximum drawdown −22.99% vs −22.27%; beta 1.02 vs 1.01.
How much do Axis India Manufacturing and Kotak Manufacture in India overlap?
By weight, 40.4% of the two portfolios is invested in the same companies; 28 stocks are held by both, the largest shared positions being Sun Pharmaceutical Industries Limited, Divi's Laboratories Limited, Mahindra & Mahindra Limited. Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of Axis India Manufacturing and Kotak Manufacture in India?
Axis India Manufacturing: large cap 50.9%, mid cap 19.0%, small cap 22.6%. Kotak Manufacture in India: large cap 38.6%, mid cap 18.6%, small cap 31.1% (share of the fund's assets, from its latest disclosed portfolio).
Is this a recommendation to choose one of these funds?
No. This page places the published figures of both funds side by side. It does not rank, rate or recommend either fund; which one suits an investor depends on their goals, horizon and risk tolerance.
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Sources: NAV from AMFI; returns, risk and ratios computed by MF Analyser from each fund's NAV history (risk on 36 monthly returns, risk-free rate 6.5%); benchmark ratios against each fund's benchmark total-return index; portfolios from each fund house's monthly disclosure. Returns and ratios as of 6 Nov 2026. IDCW options show no return or risk figures because payouts reduce the NAV and AMFI's file carries no payout history to add back. This page compares published figures only — it does not rank, rate or recommend either fund. Past performance does not indicate future returns; mutual fund investments are subject to market risks.