Kotak Multi Asset Allocation Fund vs Union Multi Asset Allocation Fund
Kotak Multi Asset Allocation Fund and Union Multi Asset Allocation Fund are both Multi Asset Allocation funds. As of 6 Nov 2026 (Direct plan, Growth option): 3-year CAGR +17.20% vs —, 5-year CAGR — vs —, volatility 11.66% vs 11.73%, maximum drawdown −13.79% vs −12.42%. Their portfolios overlap by 14.9% (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
| Kotak Multi Asset Allocation | Union Multi Asset Allocation | |
|---|---|---|
| Fund house | Kotak Mahindra Mutual Fund | Union Mutual Fund |
| Compared as | Multi Asset Allocation | Multi Asset Allocation |
| NAV | ₹16.1990 | ₹12.4500 |
| NAV date | 5 Nov 2026 | 6 Nov 2026 |
| Launched (first NAV) | 3 Oct 2023 | 13 Sep 2024 |
| Track record | 3.1 yrs | 2.1 yrs |
| Fund size (AUM) | ₹15,397 Cr | ₹971 Cr |
| Securities held | 99 | 86 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| Kotak Multi Asset Allocation | Union Multi Asset Allocation | |
|---|---|---|
| 1 month | −0.70% | +2.22% |
| 3 months | −3.42% | −1.03% |
| 6 months | −2.33% | +1.38% |
| 1 year | +9.01% | +8.07% |
| 3 years (CAGR) | +17.20% | — |
| 5 years (CAGR) | — | — |
| 7 years (CAGR) | — | — |
| 10 years (CAGR) | — | — |
| Since launch (CAGR) | +16.76% | +10.39% |
| 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
| Kotak Multi Asset Allocation | Union Multi Asset Allocation | |
|---|---|---|
| 2026 (year to date) | +0.56% | +2.98% |
| 2025 | +24.37% | +20.42% |
| 2024 | +17.87% | — |
Risk
| Kotak Multi Asset Allocation | Union Multi Asset Allocation | |
|---|---|---|
| Volatility (annualised) ⓘ | 11.66% | 11.73% |
| Downside volatility ⓘ | 7.88% | 8.44% |
| Sharpe ratio ⓘ | 0.92 | 0.33 |
| Sortino ratio ⓘ | 1.36 | 0.46 |
| Maximum drawdown ⓘ | −13.79% | −12.42% |
| Recovery from that fall | — | — |
| Current fall from peak | −6.74% | −3.34% |
| Rolling 1-year return: worst | +2.46% | +0.69% |
| Rolling 1-year return: median | +17.17% | +16.19% |
| Rolling 1-year return: best | +39.22% | +33.19% |
| Share of 1-year periods with a loss | 0.00% | 0.00% |
Against each fund's benchmark
| Kotak Multi Asset Allocation | Union Multi Asset Allocation | |
|---|---|---|
| Beta ⓘ | 0.67 | 0.68 |
| Alpha (Jensen's, annualised) ⓘ | +7.48% | +9.00% |
| R² ⓘ | 70.20 | 78.41 |
| Upside capture | 86.17% | 88.58% |
| Downside capture | 33.40% | 32.53% |
| Tracking error | 8.12% | 7.35% |
| Information ratio | 0.95 | 1.78 |
| Treynor ratio | 14.59 | 2.04 |
Portfolio
Asset mix
| Kotak Multi Asset Allocation | Union Multi Asset Allocation | |
|---|---|---|
| Equity | 69.28% | 67.05% |
| Debt | 10.59% | 11.37% |
| Silver | 7.90% | 3.95% |
| Cash & equivalents | 5.94% | 4.18% |
| Gold | 5.74% | 11.71% |
| Mutual Fund Units | 0.55% | 0.00% |
| REITs / InvITs | 0.36% | 0.00% |
Market-cap split (share of fund assets)
| Kotak Multi Asset Allocation | Union Multi Asset Allocation | |
|---|---|---|
| Large Cap | 34.65% | 40.10% |
| Mid Cap | 16.02% | 8.40% |
| Small Cap | 14.51% | 16.23% |
| Unclassified | 4.10% | 2.32% |
Concentration
| Kotak Multi Asset Allocation | Union Multi Asset Allocation | |
|---|---|---|
| Top 10 holdings | 34.40% | 39.31% |
| Effective number of stocks ⓘ | 45.4 | 35.6 |
| Securities held | 99 | 86 |
Portfolio overlap: 14.9%
14 companies are held by both funds; by weight, 14.9% of the two portfolios is the same. That is a low overlap: the two portfolios are largely different.
| Held by both | Kotak Multi Asset Allocation | Union Multi Asset Allocation |
|---|---|---|
| HDFC Bank Limited | 2.39% | 4.19% |
| State Bank of India | 3.27% | 2.34% |
| ICICI Bank Limited | 1.36% | 4.49% |
| Bharti Airtel Limited | 1.27% | 2.67% |
| Reliance Industries Limited | 1.19% | 2.44% |
| Eternal Limited | 2.50% | 1.16% |
| Maruti Suzuki India Limited | 2.40% | 1.11% |
| Tata Motors Ltd | 0.88% | 0.90% |
| NTPC Limited | 2.51% | 0.68% |
| Shriram Finance Limited | 1.74% | 0.60% |
| One 97 Communications Limited | 1.50% | 0.59% |
| Oil India Limited | 1.42% | 0.59% |
| Hindustan Unilever Ltd. | 1.98% | 0.44% |
| Billionbrains Garage Ventures Ltd | 0.32% | 0.60% |
Top 10 holdings
Kotak Multi Asset Allocation
- KOTAK MUTUAL FUND - KOTAK SILVER ETF7.90%
- KOTAK MUTUAL FUND - KOTAK GOLD ETF5.74%
- State Bank of India3.27%
- INDO-MIM Ltd.2.91%
- ITC Limited2.54%
- NTPC Limited2.51%
- Eternal Limited2.50%
- Maruti Suzuki India Limited2.40%
- HDFC Bank Limited2.39%
- Hero MotoCorp Limited2.24%
Union Multi Asset Allocation
- Union Gold ETF11.71%
- ICICI Bank Limited4.49%
- HDFC Bank Limited4.19%
- ICICI Prudential Silver ETF3.95%
- Bharti Airtel Limited2.67%
- 7.1% National Bank For Agriculture and Rural Development (29/03/2029)2.49%
- REC Ltd.2.46%
- Axis Bank Limited2.46%
- Canara Bank2.45%
- Reliance Industries Limited2.44%
Sector exposure
| Kotak Multi Asset Allocation | Union Multi Asset Allocation | |
|---|---|---|
| Capital Markets | 0.84% | 17.88% |
| Banks | 11.42% | 17.03% |
| ETF Units | 13.64% | 0.00% |
| CRISIL AAA | 1.53% | 8.35% |
| Finance | 5.58% | 2.28% |
| Power | 4.89% | 2.36% |
| Automobiles | 4.64% | 1.95% |
| Diversified FMCG | 4.52% | 0.44% |
| Industrial Manufacturing | 4.10% | 0.00% |
| CRISIL A1+ | 3.53% | 2.45% |
| Construction | 0.00% | 3.44% |
| Retailing | 3.25% | 2.32% |
| Pharmaceuticals & Biotechnology | 3.19% | 3.14% |
| Electrical Equipment | 3.07% | 1.87% |
Questions people ask
What is the difference between Kotak Multi Asset Allocation and Union Multi Asset Allocation returns?
As of 6 Nov 2026, Direct plan Growth option: 1-year return +9.01% vs +8.07%; 3-year CAGR +17.20% vs —; 5-year CAGR — vs —; 10-year CAGR — vs —. Past returns do not indicate future returns.
How do Kotak Multi Asset Allocation and Union Multi Asset Allocation compare on risk?
Volatility (36 monthly returns, annualised) 11.66% vs 11.73%; Sharpe ratio 0.92 vs 0.33; Sortino ratio 1.36 vs 0.46; maximum drawdown −13.79% vs −12.42%; beta 0.67 vs 0.68.
How much do Kotak Multi Asset Allocation and Union Multi Asset Allocation overlap?
By weight, 14.9% of the two portfolios is invested in the same companies; 14 stocks are held by both, the largest shared positions being HDFC Bank Limited, State Bank of India, ICICI Bank Limited. Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of Kotak Multi Asset Allocation and Union Multi Asset Allocation?
Kotak Multi Asset Allocation: large cap 34.7%, mid cap 16.0%, small cap 14.5%. Union Multi Asset Allocation: large cap 40.1%, mid cap 8.4%, small cap 16.2% (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.