Kotak Nifty Financial Services Ex-Bank Index Fund
- NAV as on 24 Sep 2026
- ₹15.59-4.35%1 day
- Return since launch
- 17.1%
- 52-week range
- ₹13.85 — ₹17.04
- AUM
- ₹99.18 Cr
Kotak Nifty Financial Services Ex-Bank Index Fund is a Sectoral-Banking equity fund from Kotak Mahindra Mutual Fund with ₹99.18 Cr under management, launched in 2023. Over three years it has returned 8.6% a year, against 10.7% for its category. The expense ratio is 0.80% and the SEBI riskometer reading is Very High.
Performance
Kotak Nifty Financial Services Ex-Bank Index Fund NAV and returns
Growth of the fund against its category average over the period you pick.
Over 1Y this fund returned +1.9% against +0.7% for its category.
Performance
Returns
How the fund has done against its category and its benchmark.
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1Y | -5.5% | −7.5 pts | 2.0% | -5.0% |
| 2Y | 4.4% | +2.4 pts | 2.0% | 1.5% |
| 3Y | 8.6% | −2.0 pts | 10.7% | 4.7% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | -7.7% | −3.0 pts | -4.6% | -4.0% |
| 3M | -3.7% | +0.4 pts | -4.1% | -4.1% |
| 6M | 5.1% | +0.6 pts | 4.5% | 4.4% |
| 1Y | 1.9% | −0.1 pts | 2.0% | 0.7% |
| 2Y | 4.0% | +2.4 pts | 1.6% | 0.9% |
| 3Y | 13.5% | +2.8 pts | 10.7% | 9.2% |
Since launch (24 Jul 2023): 17.1%
Calendar-year returns
Category averageShow as a table
| Period | Fund | vs category | Category |
|---|---|---|---|
| 2025 | 26.8% | +8.2 pts | 18.6% |
| 2024 | 12.8% | +0.8 pts | 12.0% |
Returns over one year are annualised. Shorter periods are absolute.
Costs & terms
Costs and terms
What the fund charges each year, and the rules around putting money in and taking it out.
Costs
0.83%
Expense ratio as on 22 Sep 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 0.61%
- Brokerage
- 0.01%
- Transaction charges
- 0.00%
- Statutory levies
- 0.20%
- Exit load
- 0%
- Lock-in
- None
Terms
- Min SIP
- ₹3,000
- Min lumpsum
- ₹5,000
- Plan
- GROWTH
- Fund type
- OPEN-ENDED
- Benchmark
- Nifty Financial Services Ex-Bank TRI
- Short-term capital gains
- Returns taxed at 20% if you redeem before 1 year
- Long-term capital gains
- After 1 year, returns above ₹1.25 lakh in a financial year are taxed at 12.5%
Risk
Risk
What the riskometer means for this fund, and how its ratios sit against the category.
Your principal is treated as being at very high risk — typically small cap, sectoral and thematic equity schemes.
| Ratio | Fund | Category avg | Read as |
|---|---|---|---|
| Alpha | 6.30 | 6.61 | Return earned above what the benchmark alone would have given. Higher is better. |
| Beta | 0.99 | 0.91 | How hard the fund moves when the market moves. Under 1 is steadier than the market. |
| Sharpe | 0.70 | 0.76 | Return earned for each unit of total risk taken. Higher is better. |
| Sortino | 0.95 | 0.97 | Return earned for each unit of downside risk. Higher is better. |
| Std. deviation | 17.77 | 15.98 | How widely monthly returns have varied around their own average. Lower is steadier. |
| Average of 4 category peers | |||
Portfolio
Kotak Nifty Financial Services Ex-Bank Index Fund portfolio
Portfolio as of 31 Aug 2026
Asset allocation
- Equity100.0%
Market cap split
- Large68.3%
- Mid26.2%
- Small5.5%
- P/E
- 18.36
- P/B
- 3.11
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| Bajaj Finance Ltd. | Financial | 15.60% | ₹15.48 Cr | +14.24% | +15.81% | +15.79% |
| Shriram Finance Ltd | Financial | 8.56% | ₹8.49 Cr | +7.78% | +9.04% | +5.50% |
| BSE Ltd. | Services | 7.39% | ₹7.33 Cr | +9.93% | +6.61% | +5.78% |
| Bajaj Finserv Ltd. | Financial | 6.44% | ₹6.39 Cr | +6.03% | +6.81% | +7.04% |
| Multi Commodity Exchange Of India Ltd. | Services | 4.78% | ₹4.74 Cr | +4.42% | +3.73% | +2.55% |
| Cholamandalam Investment and Finance Company Ltd. | Financial | 4.43% | ₹4.39 Cr | +3.86% | +4.38% | +4.05% |
| JIO Financial Services Ltd. | Financial | 4.36% | ₹4.33 Cr | +4.59% | +5.00% | +6.91% |
| SBI Life Insurance Company Ltd. | Insurance | 4.31% | ₹4.27 Cr | +4.82% | +5.47% | +5.48% |
| One97 Communications Ltd. | Services | 3.98% | ₹3.95 Cr | +2.76% | +2.67% | +2.79% |
| PB Fintech Ltd. | Services | 3.57% | ₹3.54 Cr | +3.40% | +3.02% | +3.98% |
| HDFC Life Insurance Co Ltd. | Insurance | 3.22% | ₹3.19 Cr | +3.75% | +4.60% | +5.60% |
| HDFC Asset Management Company Ltd. | Financial | 2.94% | ₹2.92 Cr | +3.19% | +3.28% | +3.75% |
| Life Insurance Corporation of India | Insurance | 2.92% | ₹2.90 Cr | +1.07% | +1.13% | +1.28% |
| Bajaj Holdings & Investment Ltd. | Financial | 2.78% | ₹2.75 Cr | +2.63% | — | — |
| Power Finance Corporation Ltd. | Financial | 2.70% | ₹2.67 Cr | +3.66% | +3.60% | +3.74% |
| Max Financial Services Ltd. | Financial | 2.30% | ₹2.28 Cr | +2.60% | +2.86% | +2.86% |
| REC Ltd. | Financial | 2.22% | ₹2.21 Cr | +2.47% | +2.61% | +2.96% |
| ICICI Lombard General Insurance Company Ltd. | Insurance | 2.10% | ₹2.08 Cr | +2.55% | +2.75% | +2.99% |
| Aditya Birla Capital Ltd. | Financial | 1.86% | ₹1.84 Cr | +1.76% | +1.58% | +1.34% |
| Muthoot Finance Ltd. | Financial | 1.76% | ₹1.74 Cr | +2.10% | +2.15% | +1.91% |
| 360 One Wam Ltd. | Financial | 1.68% | ₹1.66 Cr | +1.68% | +1.68% | — |
| L&T Finance Ltd. | Financial | 1.51% | ₹1.50 Cr | +1.43% | +1.39% | +1.18% |
| Central Depository Services (India) Ltd. | Financial | 1.38% | ₹1.36 Cr | +1.30% | +1.35% | +1.72% |
| PNB Housing Finance Ltd. | Financial | 1.19% | ₹1.18 Cr | +1.14% | +0.93% | — |
| ICICI Prudential Life Insurance Company Ltd. | Insurance | 1.13% | ₹1.12 Cr | +1.16% | +1.54% | +1.59% |
| SBI Cards And Payment Services Ltd. | Financial | 1.05% | ₹1.04 Cr | +1.10% | +1.39% | +1.63% |
| Angel One Ltd. | Financial | 1.03% | ₹1.02 Cr | +1.28% | +0.90% | +0.87% |
| Computer Age Management Services Ltd. | Services | 1.03% | ₹1.03 Cr | +1.12% | +0.97% | +1.20% |
| Indian Railway Finance Corporation Ltd. | Financial | 0.92% | ₹0.92 Cr | +1.15% | +1.11% | +1.43% |
| LIC Housing Finance Ltd. | Financial | 0.89% | ₹0.88 Cr | +0.94% | +0.97% | +1.13% |
| Others | Others | -0.03% | ₹-0.02 Cr | +0.18% | +0.14% | -0.22% |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| Life Insurance Corporation of India | 1.05% | 2.92% | +1.87% |
| Bajaj Finance Ltd. | 17.01% | 15.60% | -1.41% |
| Multi Commodity Exchange Of India Ltd. | 3.82% | 4.78% | +0.96% |
| BSE Ltd. | 8.29% | 7.39% | -0.90% |
| One97 Communications Ltd. | 3.14% | 3.98% | +0.84% |
| Power Finance Corporation Ltd. | 3.44% | 2.70% | -0.74% |
| PB Fintech Ltd. | 3.08% | 3.57% | +0.49% |
| Others | 0.11% | -0.33% | -0.44% |
| Shriram Finance Ltd | 8.15% | 8.56% | +0.41% |
| SBI Life Insurance Company Ltd. | 4.70% | 4.31% | -0.39% |
| REC Ltd. | 2.59% | 2.22% | -0.37% |
| JIO Financial Services Ltd. | 4.68% | 4.36% | -0.32% |
| Muthoot Finance Ltd. | 1.86% | 1.76% | -0.10% |
| Bajaj Finserv Ltd. | 6.53% | 6.44% | -0.09% |
| ICICI Lombard General Insurance Company Ltd. | 2.19% | 2.10% | -0.09% |
| Max Financial Services Ltd. | 2.21% | 2.30% | +0.09% |
| PNB Housing Finance Ltd. | 1.10% | 1.19% | +0.09% |
| Indian Railway Finance Corporation Ltd. | 1.00% | 0.92% | -0.08% |
| Central Depository Services (India) Ltd. | 1.32% | 1.38% | +0.06% |
| HDFC Life Insurance Co Ltd. | 3.28% | 3.22% | -0.06% |
| Angel One Ltd. | 1.08% | 1.03% | -0.05% |
| Bajaj Holdings & Investment Ltd. | 2.73% | 2.78% | +0.05% |
| 360 One Wam Ltd. | 1.64% | 1.68% | +0.04% |
| SBI Cards And Payment Services Ltd. | 1.09% | 1.05% | -0.04% |
| HDFC Asset Management Company Ltd. | 2.97% | 2.94% | -0.03% |
| Computer Age Management Services Ltd. | 1.06% | 1.03% | -0.03% |
| L&T Finance Ltd. | 1.48% | 1.51% | +0.03% |
| Cholamandalam Investment and Finance Company Ltd. | 4.45% | 4.43% | -0.02% |
| LIC Housing Finance Ltd. | 0.87% | 0.89% | +0.02% |
| Aditya Birla Capital Ltd. | 1.85% | 1.86% | +0.01% |
| ICICI Prudential Life Insurance Company Ltd. | 1.13% | 1.13% | 0.00% |
Compare
Similar funds
The rest of the category, so this fund’s numbers have something to sit against.
| Fund | AUM | Expense | 1Y | 3Y | 5Y |
|---|---|---|---|---|---|
| Category average | ₹3,703 Cr | 2.58% | -0.4% | 8.9% | 12.4% |
 SBI Banking & Financial Services Fund | ₹10,873 Cr | 2.16% | -8.4% | 6.6% | 11.5% |
 Invesco India Financial Services Fund | ₹1,896 Cr | 2.18% | -3.4% | 8.0% | 13.3% |
 Bandhan Financial Services Fund | ₹1,122 Cr | 2.49% | -3.6% | 5.5% | — |
 Quant BFSI Fund | ₹922 Cr | 3.48% | 13.7% | 15.4% | — |
About
About this fund
The scheme’s own words, its benchmark and the people running it.
Investment objective
The scheme seeks to replicate the composition of the Nifty Financial Services Ex-Bank Index and to generate returns that are commensurate with the performance of the Nifty Financial Services Ex-Bank Index, subject to tracking errors.
Fund managers
- Abhishek BisenMr. Bisen is a BA and MBA in Finance.Prior to joining Kotak AMC, he was working with Securities Trading Corporation Of India Ltd where he was looking at Sales & Trading of Fixed Income Products apart from doing Portfolio Advisory. His earlier assignments also include 2 years of merchant banking experience with a leading merchant banking firm.
- Jeetu Valechha SonarMr. Sonar is a Post Graduate Diploma in Management in Finance managementPrior to joining Kotak AMC Limited, he has worked as institutional dealer with Kotak Securities Ltd. and is part of Kotak Group since 2014.
- Satish DondapatiMr. Dondapati has done MBA FinancePrior to joining Kotak Mutual fund he has worked with Centurian Bank Of Punjab, Bajaj Capital Ltd.
Tools
Return calculator
What ₹10,000 a month in this fund would have grown to over each period, based on its past returns.
| Over the past | Total investment | Would’ve become | Growth | Returns |
|---|---|---|---|---|
| 6 months5.10% absolute | ₹60,000 | ₹63,060 | 5.10% | |
| 1 year1.91% annualised | ₹1,20,000 | ₹1,21,249 | 1.04% | |
| 3 years13.49% annualised | ₹3,60,000 | ₹4,45,701 | 23.81% |
Returns for 1 year and longer are annualised (CAGR); 6-month figures are absolute. Past returns are not a forecast.
How this is calculated
Each monthly instalment grows at the fund’s annualised return ÷ 12 per month until the end of the period, the same formula as our SIP calculator.
The amount compounds once a year at the fund’s CAGR for that period, the same formula as our lumpsum calculator.
Questions
Frequently asked questions
The things people ask about this scheme.