Nippon India Innovation Fund vs UTI Innovation Fund
Nippon India Innovation Fund and UTI Innovation Fund are both Innovation Funds. As of 6 Nov 2026 (Direct plan, Growth option): 3-year CAGR +13.95% vs +4.44%, 5-year CAGR — vs —, volatility 16.90% vs 20.98%, maximum drawdown −21.47% vs −31.51%. Their portfolios overlap by 24.3% (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
| Nippon India Innovation | UTI Innovation | |
|---|---|---|
| Fund house | Nippon India Mutual Fund | UTI Mutual Fund |
| Compared as | Innovation Funds | Innovation Funds |
| NAV | ₹15.0713 | ₹11.5300 |
| NAV date | 6 Nov 2026 | 6 Nov 2026 |
| Launched (first NAV) | 1 Sep 2023 | 18 Oct 2023 |
| Track record | 3.2 yrs | 3.1 yrs |
| Fund size (AUM) | ₹2,923 Cr | — |
| Securities held | 57 | 32 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| Nippon India Innovation | UTI Innovation | |
|---|---|---|
| 1 month | +0.11% | +0.30% |
| 3 months | −4.28% | −3.86% |
| 6 months | +3.67% | +3.66% |
| 1 year | +1.14% | −4.49% |
| 3 years (CAGR) | +13.95% | +4.44% |
| 5 years (CAGR) | — | — |
| 7 years (CAGR) | — | — |
| 10 years (CAGR) | — | — |
| Since launch (CAGR) | +13.46% | +4.71% |
| 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
| Nippon India Innovation | UTI Innovation | |
|---|---|---|
| 2026 (year to date) | +1.94% | −2.75% |
| 2025 | +6.82% | −6.47% |
| 2024 | +21.85% | +20.12% |
Risk
| Nippon India Innovation | UTI Innovation | |
|---|---|---|
| Volatility (annualised) ⓘ | 16.90% | 20.98% |
| Downside volatility ⓘ | 11.77% | 14.69% |
| Sharpe ratio ⓘ | 0.44 | -0.10 |
| Sortino ratio ⓘ | 0.63 | -0.14 |
| Maximum drawdown ⓘ | −21.47% | −31.51% |
| Recovery from that fall | 17 months | — |
| Current fall from peak | −5.62% | −14.08% |
| Rolling 1-year return: worst | −7.68% | −13.79% |
| Rolling 1-year return: median | +6.28% | −1.51% |
| Rolling 1-year return: best | +51.67% | +29.07% |
| Share of 1-year periods with a loss | 7.61% | 59.37% |
Against each fund's benchmark
| Nippon India Innovation | UTI Innovation | |
|---|---|---|
| Beta ⓘ | 1.04 | 1.08 |
| Alpha (Jensen's, annualised) ⓘ | +2.53% | −5.21% |
| R² ⓘ | 89.29 | 63.83 |
| Upside capture | 112.75% | 89.63% |
| Downside capture | 104.21% | 114.22% |
| Tracking error | 5.64% | 12.80% |
| Information ratio | 0.48 | -0.48 |
| Treynor ratio | 6.18 | -2.32 |
Portfolio
Asset mix
| Nippon India Innovation | UTI Innovation | |
|---|---|---|
| Equity | 97.52% | 96.15% |
| Cash & equivalents | 2.48% | 3.85% |
Market-cap split (share of fund assets)
| Nippon India Innovation | UTI Innovation | |
|---|---|---|
| Large Cap | 38.24% | 13.71% |
| Mid Cap | 33.27% | 32.68% |
| Small Cap | 24.01% | 47.56% |
| Unclassified | 2.00% | 2.20% |
Concentration
| Nippon India Innovation | UTI Innovation | |
|---|---|---|
| Top 10 holdings | 33.90% | 53.85% |
| Effective number of stocks ⓘ | 45.3 | 23.5 |
| Securities held | 57 | 32 |
Portfolio overlap: 24.3%
12 companies are held by both funds; by weight, 24.3% of the two portfolios is the same. That is a low overlap: the two portfolios are largely different.
| Held by both | Nippon India Innovation | UTI Innovation |
|---|---|---|
| Eternal Limited | 5.22% | 9.39% |
| Info Edge (India) Limited | 4.64% | 9.07% |
| One 97 Communications Limited | 2.51% | 4.83% |
| FSN E-Commerce Ventures Limited | 2.05% | 6.15% |
| PB Fintech Limited | 1.62% | 3.05% |
| Swiggy Limited | 2.91% | 1.61% |
| TBO Tek Limited | 1.56% | 1.28% |
| Shiprocket Limited | 1.27% | 2.20% |
| Meesho Ltd | 1.03% | 2.36% |
| Billionbrains Garage Ventures Ltd | 1.01% | 2.30% |
| Delhivery Limited | 1.01% | 2.12% |
| Divi's Laboratories Limited | 1.00% | 2.02% |
Top 10 holdings
Nippon India Innovation
- Eternal Limited5.22%
- Info Edge (India) Limited4.64%
- Trent Limited3.54%
- Varun Beverages Limited3.47%
- Samvardhana Motherson International Limited3.17%
- 3M India Limited3.16%
- Swiggy Limited2.91%
- ZF Commercial Vehicle Control Systems India Limited2.71%
- Avenue Supermarts Ltd.2.56%
- Axis Bank Limited2.52%
UTI Innovation
- Eternal Limited9.39%
- Info Edge (India) Limited9.07%
- FSN E-Commerce Ventures Limited6.15%
- Affle 3i Limited5.74%
- Acutaas Chemicals Limited4.92%
- One 97 Communications Limited4.83%
- Rategain Travel Technologies Limited4.44%
- Nazara Technologies Limited3.20%
- Gravita India Limited3.06%
- PB Fintech Limited3.05%
Sector exposure
| Nippon India Innovation | UTI Innovation | |
|---|---|---|
| Retailing | 21.95% | 30.05% |
| IT - Software | 1.80% | 15.82% |
| Financial Technology (Fintech) | 4.13% | 7.88% |
| Auto Components | 7.38% | 0.00% |
| IT - Services | 0.94% | 6.95% |
| Pharmaceuticals & Biotechnology | 4.12% | 6.94% |
| Banks | 6.80% | 0.00% |
| Electrical Equipment | 6.15% | 4.74% |
| Insurance | 4.78% | 0.00% |
| Leisure Services | 4.46% | 3.73% |
| Transport Services | 4.01% | 4.32% |
| Consumer Durables | 4.23% | 0.00% |
| Healthcare Services | 3.55% | 0.00% |
| Beverages | 3.47% | 0.00% |
Questions people ask
What is the difference between Nippon India Innovation and UTI Innovation returns?
As of 6 Nov 2026, Direct plan Growth option: 1-year return +1.14% vs −4.49%; 3-year CAGR +13.95% vs +4.44%; 5-year CAGR — vs —; 10-year CAGR — vs —. Past returns do not indicate future returns.
How do Nippon India Innovation and UTI Innovation compare on risk?
Volatility (36 monthly returns, annualised) 16.90% vs 20.98%; Sharpe ratio 0.44 vs -0.10; Sortino ratio 0.63 vs -0.14; maximum drawdown −21.47% vs −31.51%; beta 1.04 vs 1.08.
How much do Nippon India Innovation and UTI Innovation overlap?
By weight, 24.3% of the two portfolios is invested in the same companies; 12 stocks are held by both, the largest shared positions being Eternal Limited, Info Edge (India) Limited, One 97 Communications Limited. Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of Nippon India Innovation and UTI Innovation?
Nippon India Innovation: large cap 38.2%, mid cap 33.3%, small cap 24.0%. UTI Innovation: large cap 13.7%, mid cap 32.7%, small cap 47.6% (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.