Kotak Flexi Cap Fund vs Union Flexi Cap Fund
Kotak Flexi Cap Fund and Union Flexi Cap Fund are both Flexi Cap funds. As of 6 Nov 2026 (Direct plan, Growth option): 3-year CAGR +13.16% vs +12.30%, 5-year CAGR +10.91% vs +10.15%, volatility 15.35% vs 15.01%, maximum drawdown −37.31% vs −35.36%. Their portfolios overlap by 33.5% (18 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
| Kotak Flexi Cap | Union Flexi Cap | |
|---|---|---|
| Fund house | Kotak Mahindra Mutual Fund | Union Mutual Fund |
| Compared as | Flexi Cap | Flexi Cap |
| NAV | ₹98.1290 | ₹60.1800 |
| NAV date | 6 Nov 2026 | 6 Nov 2026 |
| Launched (first NAV) | 4 Jan 2013 | 2 Jan 2013 |
| Track record | 13.8 yrs | 13.8 yrs |
| Fund size (AUM) | ₹53,087 Cr | ₹2,320 Cr |
| Securities held | 56 | 75 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| Kotak Flexi Cap | Union Flexi Cap | |
|---|---|---|
| 1 month | +6.54% | +4.57% |
| 3 months | −0.34% | +0.82% |
| 6 months | +1.95% | +5.88% |
| 1 year | +1.35% | +4.52% |
| 3 years (CAGR) | +13.16% | +12.30% |
| 5 years (CAGR) | +10.91% | +10.15% |
| 7 years (CAGR) | +13.99% | +15.82% |
| 10 years (CAGR) | +13.71% | +13.84% |
| Since launch (CAGR) | +15.42% | +13.09% |
| SIP return (XIRR, 5 years) ⓘ | +11.16% | +11.33% |
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
| Kotak Flexi Cap | Union Flexi Cap | |
|---|---|---|
| 2026 (year to date) | −0.42% | +3.30% |
| 2025 | +10.42% | +4.17% |
| 2024 | +17.52% | +18.20% |
| 2023 | +25.31% | +28.97% |
| 2022 | +5.98% | +0.05% |
| 2021 | +26.59% | +38.27% |
Risk
| Kotak Flexi Cap | Union Flexi Cap | |
|---|---|---|
| Volatility (annualised) ⓘ | 15.35% | 15.01% |
| Downside volatility ⓘ | 10.64% | 10.85% |
| Sharpe ratio ⓘ | 0.43 | 0.39 |
| Sortino ratio ⓘ | 0.63 | 0.53 |
| Maximum drawdown ⓘ | −37.31% | −35.36% |
| Recovery from that fall | 8 months | 6 months |
| Current fall from peak | −2.99% | −0.10% |
| Rolling 1-year return: worst | −30.04% | −27.51% |
| Rolling 1-year return: median | +13.75% | +11.08% |
| Rolling 1-year return: best | +89.35% | +95.81% |
| Share of 1-year periods with a loss | 11.68% | 18.35% |
Against each fund's benchmark
| Kotak Flexi Cap | Union Flexi Cap | |
|---|---|---|
| Beta ⓘ | 0.94 | 0.94 |
| Alpha (Jensen's, annualised) ⓘ | +1.28% | +0.76% |
| R² ⓘ | 94.75 | 94.21 |
| Upside capture | 99.72% | 98.41% |
| Downside capture | 92.69% | 93.93% |
| Tracking error | 3.59% | 3.77% |
| Information ratio | 0.34 | 0.16 |
| Treynor ratio | 5.18 | 4.58 |
Portfolio
Asset mix
| Kotak Flexi Cap | Union Flexi Cap | |
|---|---|---|
| Equity | 98.50% | 95.02% |
| Cash & equivalents | 1.31% | 4.87% |
| Mutual Fund Units | 0.19% | 0.00% |
| Debt | 0.00% | 0.11% |
Market-cap split (share of fund assets)
| Kotak Flexi Cap | Union Flexi Cap | |
|---|---|---|
| Large Cap | 69.64% | 51.69% |
| Mid Cap | 25.05% | 12.51% |
| Small Cap | 3.36% | 26.35% |
| Unclassified | 0.45% | 4.47% |
Concentration
| Kotak Flexi Cap | Union Flexi Cap | |
|---|---|---|
| Top 10 holdings | 42.16% | 31.06% |
| Effective number of stocks ⓘ | 35.9 | 53.1 |
| Securities held | 56 | 75 |
Portfolio overlap: 33.5%
18 companies are held by both funds; by weight, 33.5% of the two portfolios is the same. That is a moderate overlap.
| Held by both | Kotak Flexi Cap | Union Flexi Cap |
|---|---|---|
| ICICI Bank Limited | 5.48% | 6.32% |
| HDFC Bank Limited | 5.27% | 4.51% |
| State Bank of India | 4.30% | 3.35% |
| Axis Bank Limited | 3.35% | 3.65% |
| Bharti Airtel Limited | 2.88% | 2.61% |
| Eternal Limited | 4.22% | 2.21% |
| Bajaj Finance Limited | 1.99% | 2.19% |
| Reliance Industries Limited | 2.24% | 1.43% |
| Infosys Limited | 1.60% | 1.11% |
| Billionbrains Garage Ventures Ltd | 1.14% | 1.11% |
| Ajanta Pharma Limited | 1.10% | 1.75% |
| Shriram Finance Limited | 1.11% | 1.06% |
| Sun Pharmaceutical Industries Limited | 2.14% | 0.94% |
| Tech Mahindra Limited | 1.35% | 0.82% |
| AU Small Finance Bank Limited | 1.69% | 0.73% |
Top 10 holdings
Kotak Flexi Cap
- ICICI Bank Limited5.48%
- Bharat Electronics Limited5.34%
- HDFC Bank Limited5.27%
- State Bank of India4.30%
- Eternal Limited4.22%
- Jindal Steel Limited4.06%
- Solar Industries India Limited3.71%
- Larsen & Toubro Limited3.54%
- Axis Bank Limited3.35%
- SRF Ltd.2.89%
Union Flexi Cap
- ICICI Bank Limited6.32%
- HDFC Bank Limited4.51%
- Axis Bank Limited3.65%
- State Bank of India3.35%
- Bharti Airtel Limited2.61%
- Divi's Laboratories Limited2.28%
- Eternal Limited2.21%
- Bajaj Finance Limited2.19%
- Gabriel India Ltd.1.97%
- Sai Life Sciences Limited1.97%
Sector exposure
| Kotak Flexi Cap | Union Flexi Cap | |
|---|---|---|
| Banks | 22.81% | 20.48% |
| Pharmaceuticals & Biotechnology | 6.41% | 10.11% |
| Chemicals & Petrochemicals | 7.03% | 2.46% |
| Retailing | 6.48% | 3.91% |
| Finance | 3.79% | 5.87% |
| Aerospace & Defense | 5.34% | 0.55% |
| Cement & Cement Products | 4.89% | 0.00% |
| IT - Software | 2.95% | 4.77% |
| Auto Components | 4.40% | 4.67% |
| Ferrous Metals | 4.06% | 0.54% |
| Transport Services | 2.53% | 3.82% |
| Telecom - Services | 3.79% | 2.61% |
| Automobiles | 3.77% | 1.83% |
| Electrical Equipment | 1.39% | 3.71% |
Questions people ask
What is the difference between Kotak Flexi Cap and Union Flexi Cap returns?
As of 6 Nov 2026, Direct plan Growth option: 1-year return +1.35% vs +4.52%; 3-year CAGR +13.16% vs +12.30%; 5-year CAGR +10.91% vs +10.15%; 10-year CAGR +13.71% vs +13.84%. Past returns do not indicate future returns.
How do Kotak Flexi Cap and Union Flexi Cap compare on risk?
Volatility (36 monthly returns, annualised) 15.35% vs 15.01%; Sharpe ratio 0.43 vs 0.39; Sortino ratio 0.63 vs 0.53; maximum drawdown −37.31% vs −35.36%; beta 0.94 vs 0.94.
How much do Kotak Flexi Cap and Union Flexi Cap overlap?
By weight, 33.5% of the two portfolios is invested in the same companies; 18 stocks are held by both, the largest shared positions being ICICI Bank Limited, HDFC Bank 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 Kotak Flexi Cap and Union Flexi Cap?
Kotak Flexi Cap: large cap 69.6%, mid cap 25.1%, small cap 3.4%. Union Flexi Cap: large cap 51.7%, mid cap 12.5%, small cap 26.4% (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.