JM Value Fund vs Kotak Contra Fund
JM Value Fund and Kotak Contra Fund are both Value / Contra funds. As of 5 Nov 2026 (Direct plan, Growth option): 3-year CAGR +11.67% vs +15.41%, 5-year CAGR +13.26% vs +13.75%, volatility 19.50% vs 15.66%, maximum drawdown −37.93% vs −37.89%. Their portfolios overlap by 22.2% (14 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
| JM Value | Kotak Contra | |
|---|---|---|
| Fund house | JM Financial Mutual Fund | Kotak Mahindra Mutual Fund |
| Compared as | Value / Contra | Value / Contra |
| NAV | ₹107.6220 | ₹181.4980 |
| NAV date | 5 Nov 2026 | 5 Nov 2026 |
| Launched (first NAV) | 2 Jan 2013 | 2 Jan 2013 |
| Track record | 13.8 yrs | 13.8 yrs |
| Fund size (AUM) | ₹780 Cr | ₹5,196 Cr |
| Securities held | 74 | 63 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| JM Value | Kotak Contra | |
|---|---|---|
| 1 month | −0.88% | +3.16% |
| 3 months | −2.95% | −3.15% |
| 6 months | +0.37% | +0.41% |
| 1 year | −2.48% | −0.84% |
| 3 years (CAGR) | +11.67% | +15.41% |
| 5 years (CAGR) | +13.26% | +13.75% |
| 7 years (CAGR) | +17.05% | +17.43% |
| 10 years (CAGR) | +15.38% | +16.64% |
| Since launch (CAGR) | +15.50% | +15.88% |
| SIP return (XIRR, 5 years) ⓘ | +11.93% | +13.14% |
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
| JM Value | Kotak Contra | |
|---|---|---|
| 2026 (year to date) | −1.07% | −2.50% |
| 2025 | −3.20% | +8.82% |
| 2024 | +26.72% | +23.74% |
| 2023 | +48.68% | +36.86% |
| 2022 | +6.05% | +8.88% |
| 2021 | +37.17% | +31.94% |
Risk
| JM Value | Kotak Contra | |
|---|---|---|
| Volatility (annualised) ⓘ | 19.50% | 15.66% |
| Downside volatility ⓘ | 13.08% | 11.02% |
| Sharpe ratio ⓘ | 0.27 | 0.57 |
| Sortino ratio ⓘ | 0.40 | 0.81 |
| Maximum drawdown ⓘ | −37.93% | −37.89% |
| Recovery from that fall | 8 months | 8 months |
| Current fall from peak | −12.55% | −3.42% |
| Rolling 1-year return: worst | −31.13% | −30.92% |
| Rolling 1-year return: median | +13.36% | +14.44% |
| Rolling 1-year return: best | +96.22% | +100.97% |
| Share of 1-year periods with a loss | 23.67% | 11.49% |
Against each fund's benchmark
| JM Value | Kotak Contra | |
|---|---|---|
| Beta ⓘ | 1.14 | 1.01 |
| Alpha (Jensen's, annualised) ⓘ | −0.34% | +3.18% |
| R² ⓘ | 81.99 | 95.92 |
| Upside capture | 116.03% | 112.04% |
| Downside capture | 125.80% | 99.40% |
| Tracking error | 8.64% | 3.27% |
| Information ratio | -0.05 | 1.07 |
| Treynor ratio | 2.85 | 7.10 |
Portfolio
Asset mix
| JM Value | Kotak Contra | |
|---|---|---|
| Equity | 98.83% | 98.95% |
| Cash & equivalents | 1.22% | 1.05% |
Market-cap split (share of fund assets)
| JM Value | Kotak Contra | |
|---|---|---|
| Large Cap | 32.30% | 51.23% |
| Mid Cap | 7.02% | 28.81% |
| Small Cap | 55.67% | 13.98% |
| Unclassified | 3.79% | 4.93% |
Concentration
| JM Value | Kotak Contra | |
|---|---|---|
| Top 10 holdings | 30.26% | 31.77% |
| Effective number of stocks ⓘ | 52.8 | 47.4 |
| Securities held | 74 | 63 |
Portfolio overlap: 22.2%
14 companies are held by both funds; by weight, 22.2% of the two portfolios is the same. That is a low overlap: the two portfolios are largely different.
| Held by both | JM Value | Kotak Contra |
|---|---|---|
| ICICI Bank Limited | 3.78% | 5.93% |
| Shriram Finance Limited | 3.40% | 2.53% |
| Larsen & Toubro Limited | 3.38% | 2.50% |
| Bharti Airtel Limited | 2.70% | 2.42% |
| Tech Mahindra Limited | 2.52% | 2.10% |
| Infosys Limited | 2.43% | 1.83% |
| HDFC Bank Limited | 1.82% | 5.06% |
| Axis Bank Limited | 1.26% | 1.48% |
| Kalpataru Projects International Ltd | 1.20% | 1.19% |
| Pine Labs Limited | 2.09% | 0.97% |
| NTPC Limited | 0.62% | 2.46% |
| V-Guard Industries Ltd. | 0.48% | 1.33% |
| Lumino Industries Limited | 0.53% | 0.44% |
| SBI Funds Management Limited | 0.29% | 0.87% |
Top 10 holdings
JM Value
- Redington Limited4.70%
- ICICI Bank Limited3.78%
- Shriram Finance Limited3.40%
- Larsen & Toubro Limited3.38%
- Bharti Airtel Limited2.70%
- Tata Motors Ltd2.55%
- Jana Small Finance Bank Ltd2.55%
- Tech Mahindra Limited2.52%
- Infosys Limited2.43%
- JK Tyre & Industries Limited2.26%
Kotak Contra
- ICICI Bank Limited5.93%
- HDFC Bank Limited5.06%
- State Bank of India3.24%
- Reliance Industries Limited2.70%
- Hero MotoCorp Limited2.67%
- Shriram Finance Limited2.53%
- Larsen & Toubro Limited2.50%
- NTPC Limited2.46%
- Bharti Airtel Limited2.42%
- Swiggy Limited2.26%
Sector exposure
| JM Value | Kotak Contra | |
|---|---|---|
| Banks | 11.32% | 22.26% |
| Finance | 10.80% | 8.20% |
| Auto Components | 7.91% | 3.47% |
| IT - Software | 4.94% | 5.93% |
| Construction | 5.63% | 3.69% |
| Pharmaceuticals & Biotechnology | 2.93% | 5.47% |
| Healthcare Services | 0.88% | 5.42% |
| Electrical Equipment | 5.17% | 1.18% |
| Commercial Services & Supplies | 4.70% | 0.00% |
| Automobiles | 1.41% | 4.63% |
| Industrial Products | 4.47% | 1.50% |
| Telecom - Services | 2.70% | 4.12% |
| Agricultural, Commercial & Construction Vehicles | 3.90% | 1.11% |
| Leisure Services | 3.64% | 0.00% |
Questions people ask
What is the difference between JM Value and Kotak Contra returns?
As of 5 Nov 2026, Direct plan Growth option: 1-year return −2.48% vs −0.84%; 3-year CAGR +11.67% vs +15.41%; 5-year CAGR +13.26% vs +13.75%; 10-year CAGR +15.38% vs +16.64%. Past returns do not indicate future returns.
How do JM Value and Kotak Contra compare on risk?
Volatility (36 monthly returns, annualised) 19.50% vs 15.66%; Sharpe ratio 0.27 vs 0.57; Sortino ratio 0.40 vs 0.81; maximum drawdown −37.93% vs −37.89%; beta 1.14 vs 1.01.
How much do JM Value and Kotak Contra overlap?
By weight, 22.2% of the two portfolios is invested in the same companies; 14 stocks are held by both, the largest shared positions being ICICI Bank Limited, Shriram Finance Limited, Larsen & Toubro Limited. Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of JM Value and Kotak Contra?
JM Value: large cap 32.3%, mid cap 7.0%, small cap 55.7%. Kotak Contra: large cap 51.2%, mid cap 28.8%, small cap 14.0% (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
JM Value 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.