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Axis Innovation Fund - Direct Plan - Growth Option vs Nippon India Taiwan Equity Fund- Direct Plan- Growth Option
Axis Innovation Fund and Nippon India Taiwan Equity Fund- are both in the Thematic Fund category, from Axis Asset Management Co. Ltd. and Nippon Life India Asset Management Limited respectively. Nippon India Taiwan Equity Fund- has posted a higher 3-year rolling CAGR. Nippon India Taiwan Equity Fund- has the lower expense ratio. See the full table and FAQ below for the complete real-data comparison.
Basics
Nippon India Taiwan Equity Fund- has the lower direct-plan expense ratio, by 0.29 percentage points.
| Axis Innovation Fund - Direct Plan - Growth Option | Nippon India Taiwan Equity Fund- Direct Plan- Growth Option | |
|---|---|---|
| Category | Thematic Fund | Thematic Fund |
| AMC | Axis Asset Management Co. Ltd. | Nippon Life India Asset Management Limited |
| Benchmark | Nifty 500 TRI | Taiwan Capitalization Weighted Stock Index |
| NAV | ₹22.26 (2026-10-28) | ₹34.7706 (2026-10-28) |
| AUM | ₹1,295.798 Cr | ₹1,005.543 Cr |
| Expense Ratio (Direct) | 1.35% | 1.06% |
| Inception | 2020-12-04 | 2021-11-22 |
Returns
Nippon India Taiwan Equity Fund- leads on 3-year rolling CAGR (37.4% vs Axis Innovation Fund's 16.2%) - see the FAQ below for percentile context within each fund's own category.
Risk Metrics
Nippon India Taiwan Equity Fund- has been the more volatile of the two by standard deviation.
| Axis Innovation Fund - Direct Plan - Growth Option | Nippon India Taiwan Equity Fund- Direct Plan- Growth Option | |
|---|---|---|
| 3Y Sharpe Ratio | 0.52 | 1.48 |
| 3Y Alpha | 6.659% | 4.7094% |
| 3Y Std Deviation | 15.0729% | 30.9882% |
| 3Y Calmar Ratio | 0.76 | 1.41 |
Portfolio Analytics
Punji Fund Health Score
Nippon India Taiwan Equity Fund- has the stronger Punji Quality grade of the two.
Frequently asked questions
Which has a higher 3-year return, Axis Innovation Fund or Nippon India Taiwan Equity Fund-?
Nippon India Taiwan Equity Fund-'s 3-year rolling CAGR of 37.4% is higher than Axis Innovation Fund's 16.2%. Nippon India Taiwan Equity Fund- sits in the 97th percentile of its category on this metric, versus the 39th percentile for Axis Innovation Fund - though note both funds may belong to different categories with different medians, so a raw CAGR comparison doesn't account for how each fund performed relative to its own peers. A higher historical return also doesn't necessarily mean lower risk; check the risk metrics below before concluding either fund is the "better" choice.
Which has a lower expense ratio, Axis Innovation Fund or Nippon India Taiwan Equity Fund-?
Nippon India Taiwan Equity Fund-'s direct-plan expense ratio is 0.29 percentage points lower than Axis Innovation Fund's. Over long holding periods, a persistent expense-ratio gap compounds into a materially different final corpus even if the two funds' gross returns are similar - it's one of the few fund attributes you can compare with total certainty upfront, unlike future returns, since the fee is contractually fixed rather than a historical estimate.
Which fund carries more risk, Axis Innovation Fund or Nippon India Taiwan Equity Fund-?
By standard deviation (a measure of how much a fund's returns swing around its own average), Nippon India Taiwan Equity Fund- has been more volatile than Axis Innovation Fund over the trailing window. Standard deviation captures total volatility in both directions - up and down - so a higher figure means bigger swings generally, not necessarily bigger losses specifically. Sharpe ratio (0.52 for Axis Innovation Fund vs 1.48 for Nippon India Taiwan Equity Fund-) is a better single measure of risk-adjusted return, since it weighs the return earned per unit of volatility taken rather than volatility alone.
Which has higher AUM, Axis Innovation Fund or Nippon India Taiwan Equity Fund-?
Axis Innovation Fund has ₹1,296 Cr in assets under management, versus ₹1,006 Cr for Nippon India Taiwan Equity Fund-. A larger AUM generally means deeper liquidity and lower per-unit fixed costs for the AMC to spread across investors, but an AUM that's very large relative to a fund's category and strategy (especially in small/mid cap categories, where the investable universe is smaller) can also make it harder for a manager to enter and exit positions without moving the price - bigger isn't automatically better, especially for less liquid categories.
Which fund has a longer track record, Axis Innovation Fund or Nippon India Taiwan Equity Fund-?
Axis Innovation Fund launched on 2020-12-04, making it older than Nippon India Taiwan Equity Fund- (launched 2021-11-22). A longer track record means more real market cycles (bull runs, corrections, rate cycles) the fund has actually navigated, which is useful context for judging consistency - but it isn't a guarantee of future performance, and a newer fund isn't automatically worse, especially if it's run by an experienced manager or team with a track record at a prior fund.
Data as of 2026-10-29. Source: AMFI disclosures via Punji. Not investment advice.