HDFC Multi Cap Fund vs Kotak Multi Cap Fund
HDFC Multi Cap Fund and Kotak Multi Cap Fund are both Multi Cap funds. As of 5 Nov 2026 (Direct plan, Growth option): 3-year CAGR +11.89% vs +17.00%, 5-year CAGR — vs +16.40%, volatility 16.27% vs 17.32%, maximum drawdown −20.20% vs −21.00%. Their portfolios overlap by 20.4% (20 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
| HDFC Multi Cap | Kotak Multi Cap | |
|---|---|---|
| Fund house | HDFC Mutual Fund | Kotak Mahindra Mutual Fund |
| Compared as | Multi Cap | Multi Cap |
| NAV | ₹19.5520 | ₹21.5020 |
| NAV date | 5 Nov 2026 | 5 Nov 2026 |
| Launched (first NAV) | 10 Dec 2021 | 6 Oct 2021 |
| Track record | 4.9 yrs | 5.1 yrs |
| Fund size (AUM) | ₹19,490 Cr | ₹30,335 Cr |
| Securities held | 121 | 73 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| HDFC Multi Cap | Kotak Multi Cap | |
|---|---|---|
| 1 month | +2.78% | +1.44% |
| 3 months | −3.60% | −1.92% |
| 6 months | −0.20% | +0.75% |
| 1 year | −4.02% | +1.53% |
| 3 years (CAGR) | +11.89% | +17.00% |
| 5 years (CAGR) | — | +16.40% |
| 7 years (CAGR) | — | — |
| 10 years (CAGR) | — | — |
| Since launch (CAGR) | +14.60% | +16.23% |
| SIP return (XIRR, 5 years) ⓘ | — | +15.95% |
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
| HDFC Multi Cap | Kotak Multi Cap | |
|---|---|---|
| 2026 (year to date) | −2.93% | +0.21% |
| 2025 | +3.34% | +7.73% |
| 2024 | +22.21% | +28.75% |
| 2023 | +41.93% | +41.89% |
| 2022 | +11.30% | +11.82% |
Risk
| HDFC Multi Cap | Kotak Multi Cap | |
|---|---|---|
| Volatility (annualised) ⓘ | 16.27% | 17.32% |
| Downside volatility ⓘ | 11.41% | 11.80% |
| Sharpe ratio ⓘ | 0.33 | 0.61 |
| Sortino ratio ⓘ | 0.47 | 0.89 |
| Maximum drawdown ⓘ | −20.20% | −21.00% |
| Recovery from that fall | — | 8 months |
| Current fall from peak | −6.37% | −2.08% |
| Rolling 1-year return: worst | −10.58% | −5.84% |
| Rolling 1-year return: median | +12.40% | +12.99% |
| Rolling 1-year return: best | +54.19% | +66.05% |
| Share of 1-year periods with a loss | 16.01% | 5.96% |
Against each fund's benchmark
| HDFC Multi Cap | Kotak Multi Cap | |
|---|---|---|
| Beta ⓘ | 0.98 | 1.02 |
| Alpha (Jensen's, annualised) ⓘ | −1.15% | +3.62% |
| R² ⓘ | 98.31 | 93.72 |
| Upside capture | 97.15% | 111.09% |
| Downside capture | 102.79% | 96.21% |
| Tracking error | 2.17% | 4.43% |
| Information ratio | -0.62 | 0.91 |
| Treynor ratio | 3.82 | 8.95 |
Portfolio
Asset mix
| HDFC Multi Cap | Kotak Multi Cap | |
|---|---|---|
| Equity | 97.92% | 98.49% |
| Cash & equivalents | 1.33% | 1.25% |
| REITs / InvITs | 0.50% | 0.00% |
| Debt | 0.25% | 0.00% |
| Mutual Fund Units | 0.00% | 0.26% |
Market-cap split (share of fund assets)
| HDFC Multi Cap | Kotak Multi Cap | |
|---|---|---|
| Large Cap | 43.17% | 39.49% |
| Mid Cap | 26.33% | 25.10% |
| Small Cap | 27.02% | 29.48% |
| Unclassified | 1.40% | 4.42% |
Concentration
| HDFC Multi Cap | Kotak Multi Cap | |
|---|---|---|
| Top 10 holdings | 24.16% | 35.17% |
| Effective number of stocks ⓘ | 80.9 | 46.2 |
| Securities held | 121 | 73 |
Portfolio overlap: 20.4%
20 companies are held by both funds; by weight, 20.4% of the two portfolios is the same. That is a low overlap: the two portfolios are largely different.
| Held by both | HDFC Multi Cap | Kotak Multi Cap |
|---|---|---|
| HDFC Bank Limited | 3.93% | 5.66% |
| Eternal Limited | 2.13% | 3.28% |
| State Bank of India | 1.77% | 3.55% |
| NTPC Limited | 1.72% | 2.20% |
| Maruti Suzuki India Limited | 1.12% | 4.10% |
| InterGlobe Aviation Limited | 1.05% | 1.15% |
| Tata Communications Limited | 1.15% | 0.96% |
| Larsen & Toubro Limited | 0.92% | 1.48% |
| Shriram Finance Limited | 0.95% | 0.91% |
| Power Finance Corporation Limited | 0.91% | 2.26% |
| Hindustan Unilever Ltd. | 1.02% | 0.88% |
| Bharti Airtel Limited | 2.13% | 0.78% |
| Bandhan Bank Limited | 0.76% | 1.04% |
| Jubilant Foodworks Limited | 1.00% | 0.57% |
| Whirlpool of India Ltd. | 0.54% | 1.20% |
Top 10 holdings
HDFC Multi Cap
- HDFC Bank Limited3.93%
- ICICI Bank Limited3.66%
- Axis Bank Limited2.44%
- Reliance Industries Limited2.41%
- Bharti Airtel Limited2.13%
- Eternal Limited2.13%
- Britannia Industries Ltd.2.05%
- Kotak Mahindra Bank Limited1.92%
- State Bank of India1.77%
- NTPC Limited1.72%
Kotak Multi Cap
- HDFC Bank Limited5.66%
- Maruti Suzuki India Limited4.10%
- State Bank of India3.55%
- Oracle Financial Services Software Limited3.46%
- INDO-MIM Ltd.3.33%
- Eternal Limited3.28%
- Hero MotoCorp Limited3.26%
- IndusInd Bank Limited2.97%
- Indus Towers Limited2.86%
- One 97 Communications Limited2.70%
Sector exposure
| HDFC Multi Cap | Kotak Multi Cap | |
|---|---|---|
| Banks | 15.49% | 20.43% |
| Finance | 6.93% | 7.46% |
| Automobiles | 3.35% | 7.36% |
| Pharmaceuticals & Biotechnology | 6.22% | 4.37% |
| Auto Components | 6.12% | 0.56% |
| Industrial Manufacturing | 1.44% | 5.67% |
| IT - Software | 5.33% | 3.49% |
| Construction | 0.92% | 5.15% |
| Leisure Services | 4.61% | 0.57% |
| Telecom - Services | 3.28% | 4.60% |
| Consumer Durables | 4.48% | 4.03% |
| Retailing | 3.17% | 4.42% |
| Financial Technology (Fintech) | 0.93% | 4.13% |
| Power | 2.51% | 3.83% |
Questions people ask
What is the difference between HDFC Multi Cap and Kotak Multi Cap returns?
As of 5 Nov 2026, Direct plan Growth option: 1-year return −4.02% vs +1.53%; 3-year CAGR +11.89% vs +17.00%; 5-year CAGR — vs +16.40%; 10-year CAGR — vs —. Past returns do not indicate future returns.
How do HDFC Multi Cap and Kotak Multi Cap compare on risk?
Volatility (36 monthly returns, annualised) 16.27% vs 17.32%; Sharpe ratio 0.33 vs 0.61; Sortino ratio 0.47 vs 0.89; maximum drawdown −20.20% vs −21.00%; beta 0.98 vs 1.02.
How much do HDFC Multi Cap and Kotak Multi Cap overlap?
By weight, 20.4% of the two portfolios is invested in the same companies; 20 stocks are held by both, the largest shared positions being HDFC Bank Limited, Eternal Limited, State Bank of India. Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of HDFC Multi Cap and Kotak Multi Cap?
HDFC Multi Cap: large cap 43.2%, mid cap 26.3%, small cap 27.0%. Kotak Multi Cap: large cap 39.5%, mid cap 25.1%, small cap 29.5% (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.
More comparisons
HDFC Multi Cap vs
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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 5 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.