Invesco India Manufacturing Fund vs Kotak Manufacture in India Fund
Invesco India Manufacturing Fund and Kotak Manufacture in India Fund are both Manufacturing Funds. As of 5 Nov 2026 (Direct plan, Growth option): 3-year CAGR — vs +21.29%, 5-year CAGR — vs —, volatility 19.82% vs 17.54%, maximum drawdown −21.64% vs −22.27%. Their portfolios overlap by 24.1% (12 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
| Invesco India Manufacturing | Kotak Manufacture in India | |
|---|---|---|
| Fund house | Invesco Mutual Fund | Kotak Mahindra Mutual Fund |
| Compared as | Manufacturing Funds | Manufacturing Funds |
| NAV | ₹12.1500 | ₹23.8210 |
| NAV date | 5 Nov 2026 | 5 Nov 2026 |
| Launched (first NAV) | 19 Aug 2024 | 2 Mar 2022 |
| Track record | 2.2 yrs | 4.7 yrs |
| Fund size (AUM) | ₹732 Cr | ₹3,132 Cr |
| Securities held | 45 | 60 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| Invesco India Manufacturing | Kotak Manufacture in India | |
|---|---|---|
| 1 month | +0.75% | +0.43% |
| 3 months | +0.08% | +0.01% |
| 6 months | +10.45% | +7.33% |
| 1 year | +16.83% | +14.25% |
| 3 years (CAGR) | — | +21.29% |
| 5 years (CAGR) | — | — |
| 7 years (CAGR) | — | — |
| 10 years (CAGR) | — | — |
| Since launch (CAGR) | +8.86% | +20.35% |
| 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
| Invesco India Manufacturing | Kotak Manufacture in India | |
|---|---|---|
| 2026 (year to date) | +19.23% | +13.36% |
| 2025 | −4.59% | +9.02% |
| 2024 | — | +27.83% |
| 2023 | — | +34.40% |
Risk
| Invesco India Manufacturing | Kotak Manufacture in India | |
|---|---|---|
| Volatility (annualised) ⓘ | 19.82% | 17.54% |
| Downside volatility ⓘ | 14.34% | 11.69% |
| Sharpe ratio ⓘ | 0.12 | 0.85 |
| Sortino ratio ⓘ | 0.16 | 1.27 |
| Maximum drawdown ⓘ | −21.64% | −22.27% |
| Recovery from that fall | 14 months | 7 months |
| Current fall from peak | −1.94% | −1.83% |
| Rolling 1-year return: worst | −7.29% | −3.84% |
| Rolling 1-year return: median | +8.19% | +18.41% |
| Rolling 1-year return: best | +21.97% | +58.84% |
| Share of 1-year periods with a loss | 19.00% | 5.64% |
Against each fund's benchmark
| Invesco India Manufacturing | Kotak Manufacture in India | |
|---|---|---|
| Beta ⓘ | 1.08 | 1.01 |
| Alpha (Jensen's, annualised) ⓘ | +10.04% | +8.02% |
| R² ⓘ | 75.45 | 81.82 |
| Upside capture | 139.88% | 128.51% |
| Downside capture | 91.97% | 95.74% |
| Tracking error | 10.01% | 7.48% |
| Information ratio | 0.88 | 1.18 |
| Treynor ratio | -0.54 | 12.33 |
Portfolio
Asset mix
| Invesco India Manufacturing | Kotak Manufacture in India | |
|---|---|---|
| Equity | 93.07% | 95.86% |
| Cash & equivalents | 6.93% | 3.67% |
| Mutual Fund Units | 0.00% | 0.47% |
Market-cap split (share of fund assets)
| Invesco India Manufacturing | Kotak Manufacture in India | |
|---|---|---|
| Large Cap | 36.74% | 38.64% |
| Mid Cap | 7.81% | 18.60% |
| Small Cap | 40.14% | 31.11% |
| Unclassified | 8.38% | 7.51% |
Concentration
| Invesco India Manufacturing | Kotak Manufacture in India | |
|---|---|---|
| Top 10 holdings | 33.47% | 34.30% |
| Effective number of stocks ⓘ | 44.2 | 47.2 |
| Securities held | 45 | 60 |
Portfolio overlap: 24.1%
12 companies are held by both funds; by weight, 24.1% of the two portfolios is the same. That is a low overlap: the two portfolios are largely different.
| Held by both | Invesco India Manufacturing | Kotak Manufacture in India |
|---|---|---|
| Divi's Laboratories Limited | 3.85% | 3.71% |
| TVS Motor Company Ltd. | 3.56% | 3.28% |
| INDO-MIM Ltd. | 3.51% | 3.27% |
| Mahindra & Mahindra Limited | 2.47% | 3.53% |
| Sun Pharmaceutical Industries Limited | 2.39% | 4.35% |
| Aditya Infotech Limited | 2.55% | 1.84% |
| Eicher Motors Ltd. | 3.23% | 1.71% |
| Hindalco Industries Limited | 1.42% | 2.41% |
| Tenneco Clean Air India Limited | 2.44% | 1.16% |
| ABB India Limited | 1.98% | 1.08% |
| Dixon Technologies (India) Limited | 0.92% | 2.09% |
| Tata Motors Ltd | 2.34% | 0.81% |
Top 10 holdings
Invesco India Manufacturing
- Sedemac Mechatronics Limited4.01%
- Divi's Laboratories Limited3.85%
- TVS Motor Company Ltd.3.56%
- INDO-MIM Ltd.3.51%
- Dhoot Transmission Ltd3.50%
- Eicher Motors Ltd.3.23%
- Bansal Wire Industries Limited3.16%
- Sai Life Sciences Limited2.92%
- Craftsman Automation Limited2.87%
- Gabriel India Ltd.2.86%
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
| Invesco India Manufacturing | Kotak Manufacture in India | |
|---|---|---|
| Auto Components | 23.13% | 6.36% |
| Pharmaceuticals & Biotechnology | 13.96% | 17.80% |
| Automobiles | 12.61% | 13.68% |
| Industrial Manufacturing | 7.38% | 10.99% |
| Industrial Products | 8.90% | 7.89% |
| Consumer Durables | 6.65% | 2.09% |
| Petroleum Products | 0.00% | 5.13% |
| Electrical Equipment | 4.41% | 4.76% |
| Ferrous Metals | 0.00% | 4.32% |
| Cement & Cement Products | 4.25% | 3.46% |
| Aerospace & Defense | 4.16% | 4.11% |
| Food Products | 0.00% | 2.65% |
| Chemicals & Petrochemicals | 2.49% | 2.46% |
| Non - Ferrous Metals | 1.42% | 2.41% |
Questions people ask
What is the difference between Invesco India Manufacturing and Kotak Manufacture in India returns?
As of 5 Nov 2026, Direct plan Growth option: 1-year return +16.83% vs +14.25%; 3-year CAGR — vs +21.29%; 5-year CAGR — vs —; 10-year CAGR — vs —. Past returns do not indicate future returns.
How do Invesco India Manufacturing and Kotak Manufacture in India compare on risk?
Volatility (36 monthly returns, annualised) 19.82% vs 17.54%; Sharpe ratio 0.12 vs 0.85; Sortino ratio 0.16 vs 1.27; maximum drawdown −21.64% vs −22.27%; beta 1.08 vs 1.01.
How much do Invesco India Manufacturing and Kotak Manufacture in India overlap?
By weight, 24.1% of the two portfolios is invested in the same companies; 12 stocks are held by both, the largest shared positions being Divi's Laboratories Limited, TVS Motor Company Ltd., INDO-MIM Ltd.. Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of Invesco India Manufacturing and Kotak Manufacture in India?
Invesco India Manufacturing: large cap 36.7%, mid cap 7.8%, small cap 40.1%. 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 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.