Kotak Nifty Commodities Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Kotak Nifty Commodities Index Fund Direct Growth Plan has a NAV of ₹11.804 as of 15 September 2026 and an AUM of ₹296 Cr. Its 1-year, 3-year and 5-year returns are 6.15%, 0% and 0%, and it sits in the High Risk category. Our view is that this is a sector-focused index fund suited to investors who can tolerate sharp swings and want exposure to commodity-linked businesses rather than a broad-market core holding.

The recent return profile is uneven, and the fund has moved differently from the benchmark over short windows. The portfolio is also concentrated in a relatively small set of large holdings, which can amplify sector-specific moves. That combination makes it more relevant as a satellite allocation than as a standalone equity allocation.

Quick facts

Particular	Details
NAV	₹11.804 as of 15 Sep 2026
AUM	₹296 Cr
Expense Ratio	0.2%
Launch Date	10 Mar 2025
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Index Funds
Exit Load	No exit load
Fund Managers	Satish Dondapati, Abhishek Bisen, Jeetu Valechha Sonar

The fund is managed by Satish Dondapati, Abhishek Bisen and Jeetu Valechha Sonar.

Source data date: as of 15 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-4.27%	-4.81%
3M	-5.64%	-3.63%
1Y	6.15%	-8.27%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The short-term path has been choppy. Over 1 month, the fund and benchmark both declined, but the fund fell a little less. Over 3 months, the fund also stayed under pressure, and the benchmark did better over the same window. That tells us the fund has not moved in a smooth line and is sensitive to the same market currents that affected its benchmark.

The 1-year number is much stronger than the benchmark’s, which is an important difference. The fund’s 1-year return is positive while the benchmark’s 1-year return is negative, so the strategy has recovered better over the longer of the available windows. That said, the gap between the recent 1-month and 3-month outcomes shows the improvement has not been linear.

For a new fund, the 3-year and 5-year fields are not available, so we cannot treat the longer window as a mature history. Even so, the available pattern suggests a fund that can rebound well over 12 months but may still face noticeable short-term volatility. For investors, that means the question is less about steady compounding and more about whether they want a focused commodity-sector exposure inside a broader portfolio.

Source data date: as of 15 Sep 2026

Should you BUY or HOLD Kotak Nifty Commodities Index?

A fund's past returns alone don't tell you whether you should buy it today or continue holding it.

The right decision depends on factors such as your current allocation, purchase price, risk profile, investment horizon and the role this fund plays in your overall portfolio.

Already holding Kotak Nifty Commodities Index? Thinking of investing now?

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Peer comparison

Fund	1Y return	3Y return	5Y return
Kotak Nifty Commodities Index Fund Direct Growth Plan	6.15%	Data not available	Data not available
ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan	32.61%	29.92%	Data not available
Tata Nifty Capital Markets Index Fund Direct Growth Plan	25.91%	Data not available	Data not available
Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan	21.71%	Data not available	Data not available
Motilal Oswal Nifty MidSmall Financial Services Index Fund Direct Growth Plan	20.15%	Data not available	Data not available
ICICI Pru Nifty Pharma Index Fund Direct Growth Plan	18.11%	18.92%	Data not available

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.

The current fund’s 1-year return is far below the strongest peer numbers shown here, although it still turned positive while the benchmark’s 1-year return remained negative. Its short-term behaviour is therefore mixed: better than the benchmark over 12 months, but well behind the stronger peer funds on the same horizon.

On the longer available horizon, the gap remains visible where figures are available. The only peer with a 3-year return in this set is much higher, while another peer also shows a stronger 1-year return and a positive 3-year return. That leaves the current fund looking more modest on available long-window evidence, even though its benchmark comparison is more favourable than the short-term peer comparison.

So the peer story and the benchmark story are not identical. Against the benchmark, the fund looks more resilient over 1 year; against the peer set, it looks less compelling on available return figures. That difference matters for investors who are deciding whether they want a niche allocation or a higher-returning sector alternative.

Source data date: as of 15 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Reliance Industries Ltd.	Crude Oil	9.99%
NTPC Ltd	Power	7.45%
Tata Steel Ltd.	Iron & Steel	7.31%
Hindalco Industries Ltd.	Non – Ferrous Metals	7.05%
Ultratech Cement Ltd.	Construction Materials	6.5%
Grasim Industries Ltd.	Diversified	6.1%
JSW Steel Ltd.	Iron & Steel	5.89%
Coal India Limited	Mining	4.62%
Oil and Natural Gas Corporation Ltd.	Crude Oil	4.32%
Adani Power Ltd	Power	3.94%

The largest holding, Reliance Industries Ltd., is 9.99%, so a single stock can clearly matter for day-to-day movement. The tenth holding is 3.94%, which shows the list still retains meaningful weight beyond the top name, but the step-down from first to tenth is noticeable.

The displayed holdings together account for about 63.17% of the portfolio, and the fund discloses 30 holdings in all. That suggests a portfolio that is not confined to just a handful of positions, yet is still anchored by a relatively concentrated top layer. In practice, that top layer may have greater influence on returns than the longer tail of smaller positions.

Because several names sit in commodity-linked areas such as crude oil, power, iron & steel and mining, the portfolio may react strongly when those businesses move together. The result is a mix of breadth and concentration: enough holdings to diversify among constituents, but still enough top-heavy weight to keep sector swings visible.

To see all holdings, visit the Kotak Nifty Commodities Index Fund Direct Growth Plan page

Source data date: as of 15 Sep 2026

Who should invest

This fund may suit investors who can handle High Risk exposure and want a commodity-linked equity allocation with a clear sector tilt. The available return pattern shows meaningful short-term movement, so a longer horizon is more sensible than a short trading view. Investors who already have broad-market equity exposure may consider it only as a smaller satellite position.

The main trade-off is simple: the fund offers focused sector participation, but that focus can create uneven short-term outcomes. Its 1-year return is positive, yet the shorter windows have been volatile and the benchmark relationship has not been uniform. That makes it more appropriate for investors who can stay patient through cycles and accept that this style may lag in calmer phases.

Tax and exit load

Holding period	Tax rate	Description
Units held less than 1 year	20%	Short-term capital gains tax
Units held more than 1 year	12.5%	Long-term capital gains tax

Exit load: No exit load.

Source data date: as of 15 Sep 2026

Frequently asked questions

What is the current NAV of Kotak Nifty Commodities Index Fund Direct Growth Plan?
The current NAV is ₹11.804 as of 15 September 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
Its 1-year return is 6.15%. The 3-year and 5-year returns are not available in the current record.

How does the fund compare with its benchmark?
Over 1 year, the fund has a positive return of 6.15% while the benchmark return is -8.27%. Over 1 month and 3 months, both have been weaker, with the fund still showing a mixed short-term path.

How does it compare with the peer funds shown here?
On the available 1-year figures, several peers have higher returns, while one peer also shows a positive 3-year return. The current fund still compares better than the benchmark over 1 year, but the peer set shows stronger numbers on the same horizon.

What is the minimum SIP amount?
The minimum SIP amount is ₹100.

Who manages the fund and what is its exit load?
The fund is managed by Satish Dondapati, Abhishek Bisen and Jeetu Valechha Sonar. There is no exit load.

Bottom line

This fund has a mixed profile: the 1-year return is positive and better than the benchmark, but the shorter windows have been choppy and the available peer figures are stronger. The risk label is High Risk, and the portfolio’s top names take a meaningful share of the fund, so movements in a few holdings can matter. It may suit investors who want a focused commodity-sector allocation and can tolerate volatility rather than those looking for a steady core equity holding.

Published on 16 September 2026 at 2:10 PM IST

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RIA disclosure

Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. This review is prepared by Uniapps Investment Adviser Pvt. Ltd. (earlier known as Uniapps Global Research Pvt. Ltd.) under SEBI Registered Investment Adviser registration INA000017639 for general informational purposes and is not personalized investment advice.