COMPARE
Axis Innovation Fund - Direct Plan - Growth Option vs UTI Innovation Fund - Direct Plan - Growth Option
Axis Innovation Fund and UTI Innovation Fund are both in the Thematic Fund category, from Axis Asset Management Co. Ltd. and UTI Asset Mgmt. Co. Ltd. respectively. UTI Innovation Fund has posted a higher 3-year rolling CAGR. UTI Innovation Fund has the lower expense ratio. See the full table and FAQ below for the complete real-data comparison.
Basics
UTI Innovation Fund has the lower direct-plan expense ratio, by 0.11 percentage points.
| Axis Innovation Fund - Direct Plan - Growth Option | UTI Innovation Fund - Direct Plan - Growth Option | |
|---|---|---|
| Category | Thematic Fund | Thematic Fund |
| AMC | Axis Asset Management Co. Ltd. | UTI Asset Mgmt. Co. Ltd. |
| Benchmark | Nifty 500 TRI | Nifty 500 TRI |
| NAV | ₹22.26 (2026-10-28) | ₹11.1854 (2026-10-28) |
| AUM | ₹1,295.798 Cr | ₹839.238 Cr |
| Expense Ratio (Direct) | 1.35% | 1.24% |
| Inception | 2020-12-04 | 2023-09-25 |
Returns
UTI Innovation Fund leads on 3-year rolling CAGR (4.3% vs Axis Innovation Fund's 16.2%) - see the FAQ below for percentile context within each fund's own category.
Risk Metrics
UTI Innovation Fund has been the more volatile of the two by standard deviation.
| Axis Innovation Fund - Direct Plan - Growth Option | UTI Innovation Fund - Direct Plan - Growth Option | |
|---|---|---|
| 3Y Sharpe Ratio | 0.52 | -0.24 |
| 3Y Alpha | 6.659% | -5.9519% |
| 3Y Std Deviation | 15.0729% | 19.0739% |
| 3Y Calmar Ratio | 0.76 | 0.08 |
Portfolio Analytics
Axis Innovation Fund carries the higher portfolio P/E ratio (a rougher proxy for how richly the underlying holdings are valued) - see the table below for the full comparison.
| Axis Innovation Fund - Direct Plan - Growth Option | UTI Innovation Fund - Direct Plan - Growth Option | |
|---|---|---|
| P/E Ratio | 69.3577 | 49.6437 |
| P/B Ratio | - | 5.75 |
| Dividend Yield | 0.1522% | 0.3793% |
| Active Share | 92.44% | 95.7% |
| Portfolio Turnover | 83% | 24% |
| YTM | 5.28% | - |
| Duration (Macaulay) | - | - |
Punji Fund Health Score
UTI Innovation Fund has the stronger Punji Quality grade of the two.
Frequently asked questions
Which has a higher 3-year return, Axis Innovation Fund or UTI Innovation Fund?
UTI Innovation Fund's 3-year rolling CAGR of 4.3% is higher than Axis Innovation Fund's 16.2%. UTI Innovation Fund sits in the 6th 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 UTI Innovation Fund?
UTI Innovation Fund's direct-plan expense ratio is 0.11 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 UTI Innovation Fund?
By standard deviation (a measure of how much a fund's returns swing around its own average), UTI Innovation 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 -0.24 for UTI Innovation 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 UTI Innovation Fund?
Axis Innovation Fund has ₹1,296 Cr in assets under management, versus ₹839 Cr for UTI Innovation 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 UTI Innovation Fund?
Axis Innovation Fund launched on 2020-12-04, making it older than UTI Innovation Fund (launched 2023-09-25). 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.