Kotak Flexi Cap Fund
This is the Direct plan of Kotak Flexi Cap Fund — bought from the fund house, with no distributor commission in its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.
Performance
Scorecard
★★★☆☆3/5 vs 36 of 45 Flexi Cap Fund peers- Performance 60%
- Risk 15%
- Cost 10%
- Downside 15%
How this is computed
Each verdict is computed from this fund's own metrics against its sub-category — the number behind it is shown, not a black-box rating. The stars weight the same ground 60/15/10/15 (performance/risk/cost/downside) across every fund in the peer group. Ranked within Flexi Cap Fund (same plan and option). 36 of the 45 Flexi Cap Funds in this cohort carry the full record the stars need, so they are the ones ranked against.
3Y CAGR +10.35% · ranks 23 of 36 Flexi Cap Funds
Volatility 14.5% vs 14.2% category avg
0.7% expense vs 1.1% category avg
99% of rolling 3Y windows were positive
Strengths & concerns
Generated from this fund's own numbers against its sub-category — each point names the figure behind it.
Strengths
- Low expense ratio (0.66%) vs the Flexi Cap Fund average of 1.13%
- Consistent — positive in 99% of rolling 3-year windows
Concerns
- Trails the Flexi Cap Fund average on 1M/3M/6M/1Y — 1Y by 4.35pp
- 3-year return (+10.35%) trails the Flexi Cap Fund average (+12.10%)
- 5-year return (+9.53%) trails the Flexi Cap Fund average (+10.21%)
- Ranks #34 of 42 on 1-year return in its Flexi Cap Fund cohort
- Weaker risk-adjusted returns — Sharpe 0.27 below the Flexi Cap Fund average of 0.38
Key Metrics
Scheme Info
DefinitionsPeriod returns (<1Y, absolute — not annualized)
DefinitionsAnnualized returns (≥1Y — CAGR)
DefinitionsAdvanced metrics — risk and benchmark ratios
Fund vs category average (Flexi Cap Fund)
| Period | Fund | Category avg. | Diff |
|---|---|---|---|
| 1M abs | -5.00% | -4.28% | -0.72% |
| 3M abs | -5.90% | -2.36% | -3.54% |
| 6M abs | +3.72% | +10.59% | -6.87% |
| 1Y CAGR | -4.02% | +0.33% | -4.35% |
| 3Y CAGR | +10.35% | +12.10% | -1.75% |
| 5Y CAGR | +9.53% | +10.21% | -0.68% |
Category average across peers in Flexi Cap Fund (up to 45 funds with data), same plan and option, excluding this fund. Under-1-year figures are absolute; 1Y and beyond are annualised (CAGR).
Not sure what a figure means? The glossary explains every metric, and the methodology shows the formulas.
Category rank
Vs 45 peers in Flexi Cap Fund
Backtest this fund
What a SIP or one-time investment would have grown to over this fund’s real NAV history.
60 monthly installments of ₹10,000 into Kotak Flexi Cap Fund, valued at the latest NAV. XIRR annualizes for each installment’s timing.
Calendar-year returns
What the fund actually returned in each year, not the smoothed average.
| Year | Fund | Nifty 500 TRI | Diff | |
|---|---|---|---|---|
| 2026part | -6.72% | -7.18% | +0.46% | |
| 2025 | +10.42% | +7.94% | +2.48% | |
| 2024 | +17.52% | +16.43% | +1.09% | |
| 2023 | +25.31% | +27.43% | -2.12% | |
| 2022 | +5.98% | +4.34% | +1.64% | |
| 2021 | +26.59% | +31.59% | -5.00% | |
| 2020 | +12.89% | +18.33% | -5.44% | |
| 2019 | +13.36% | +8.95% | +4.41% | |
| 2018 | +0.16% | -2.33% | +2.49% | |
| 2017 | +35.86% | +37.35% | -1.49% |
January–December, from this fund's NAV history. Absolute return, not annualised. “part” marks a year the fund didn't run end to end — its first year, the current year so far, or one it stopped reporting in; those years show no benchmark comparison.
Taxation
Taxed as equityThis is an equity-oriented fund (≥65% in Indian equities), so gains get the concessional capital-gains rates below — they do not add to your income-tax slab.
Flat, on the whole gain
On gains above ₹1.25 L per financial year
Applies to capital gains on redemption. Excludes IDCW/dividend tax, STT, surcharge and cess, and pre-2018 equity grandfathering. For research only — consult a tax advisor before filing.
Asset allocation
As on 31 Aug 2026 · AMC disclosure- Equity98.56%
- Cash & Equivalents1.26%
- Other0.18%
AMC Profile
Kotak Mahindra Mutual Fund is run by Kotak Mahindra Asset Management, part of the Kotak Mahindra Bank group, and has been in the business since 1998. It was the first Indian fund house to launch a dedicated gilt scheme, and today runs one of the country's larger equity and debt line-ups.
Fund Managers
HUHarsha UpadhyayaManaging since 04 Aug 2012
CIO - Equity Bachelor and Debt
Mr. Harsha Upadhyaya has over three decades of rich experience spread over Fund Management and Equity Research. His prior stints have been with companies such as DSP BlackRock Investment Managers, UTI Asset Management Co. Ltd, Reliance Group, etc.
Fund manager, benchmark and dealing terms from this scheme's SEBI-filed Scheme Information Document on AMFI. Each manager's qualifications and role are reconciled across every filing this fund house makes for them, including its Statement of Additional Information. Total AUM via AMFI.
Explore from here
Kotak Mahindra in the news
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Returns and risk are computed from NAV history and may differ slightly from other portals due to methodology (rolling vs point-to-point, dividend treatment). For research only — not investment advice.
About Flexi Cap funds
Flexi cap funds invest across large, mid and small-cap stocks with no fixed allocation, letting the manager shift with the market cycle. That flexibility can help manage risk and chase growth wherever it is.
From the blog
Frequently asked questions
What is the NAV of Kotak Flexi Cap Fund?
As of 05 Oct 2026, the NAV of Kotak Flexi Cap Fund is ₹91.92 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.
What returns has Kotak Flexi Cap Fund delivered?
Kotak Flexi Cap Fund has returned -4.02% over 1 year, +10.35% per year over 3 years, +9.53% per year over 5 years and +14.98% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.
What is the expense ratio of Kotak Flexi Cap Fund?
Kotak Flexi Cap Fund charges an expense ratio of 0.66% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.
What are the top holdings of Kotak Flexi Cap Fund?
Kotak Flexi Cap Fund's largest holdings are ICICI BANK LTD. (5.7%), Bharat Electronics Ltd. (5.4%), HDFC BANK LTD. (5.0%), STATE BANK OF INDIA. (4.5%) and ETERNAL LIMITED (4.1%). Holdings are disclosed monthly and change over time.
How risky is Kotak Flexi Cap Fund?
Kotak Flexi Cap Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 14.5% and its worst peak-to-trough fall in our sample was -37.3%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.
What does the Sharpe ratio of 0.27 mean?
The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Kotak Flexi Cap Fund's 0.27 means it has rewarded its volatility with excess return. Higher is better.
What is the benchmark of Kotak Flexi Cap Fund?
Kotak Flexi Cap Fund is benchmarked against the NIFTY 500 TRI. Its alpha and beta on this page are measured against that index.
Who manages Kotak Flexi Cap Fund?
Kotak Flexi Cap Fund is managed by Harsha Upadhyaya at Kotak Mahindra.
How is Kotak Flexi Cap Fund taxed?
Kotak Flexi Cap Fund is an equity-oriented fund, so its capital gains get concessional rates: short-term gains (units held under 1 year) are taxed at 20%, and long-term gains (held 1 year or more) at 12.5% above a ₹1.25 lakh per-year exemption. These rates apply on redemption and don't add to your income-tax slab.