Axis Innovation Fund vs Motilal Oswal BSE Select IPO ETF
Direct Plan where a fund has one, Growth option · Data as on 29-10-2026
Axis Innovation Fund is a Thematic fund and Motilal Oswal BSE Select IPO ETF is an ETF fund. Axis Innovation Fund charges 1.36% a year and Motilal Oswal BSE Select IPO ETF 0.71%. Their portfolios overlap 34.5%: they hold 21 of the same securities.
Which is better, Axis Innovation or Motilal Oswal BSE Select IPO ETF? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Motilal Oswal BSE Select IPO ETF costs less: 0.71% a year against 1.36%.
- Axis Innovation fell less in its worst fall since 20-11-2025: −13.4% against −22.0%.
- Axis Innovation holds 13.4% of the fund in foreign stocks; Motilal Oswal BSE Select IPO ETF 0.0%.
- Motilal Oswal BSE Select IPO ETF holds more in large companies: 25.8% of the fund in large caps against 15.4%.
- Axis Innovation is the larger fund: ₹1,345 Cr against ₹6 Cr.
- Their portfolios overlap 34.5%: 21 of the same holdings.
Past returns do not promise future returns. This page is information, not investment advice.
Key facts
From each fund's scheme summary document and AMFI
| Fact | Axis Innovation Fund | Motilal Oswal BSE Select IPO ETF |
|---|---|---|
| Fund house | Axis Mutual Fund | Motilal Oswal Mutual Fund |
| Category | Thematic | ETF |
| AUM | ₹1,345 Cr (30-09-2026) | ₹6 Cr (30-09-2026) |
| NAV | ₹22.34 (Direct) | ₹44.57 |
| Expense ratio (Direct) | 1.36% | Not available |
| Expense ratio (Regular) | 2.29% | Not available |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | BSE Select IPO TRI |
| Launch date | 24-12-2020 | 17-11-2025 |
| Minimum investment | ₹100 | Ongoing Basis: On Exchange: Investors can buy/sell units of the Scheme in round lots of 1 unit and in multiples thereof. Directly with the Mutual Fund: For Eligible investors: Transactions must be in multiple of unit creation size and the execution value |
| Lock in | None | None |
| Fund managers | Ashish Naik, Krishnaa N | Swapnil Mayekar, Dishant Mehta, Rakesh Shetty |
| Exit load | Exit Load for units in excess of 20% of the investment,1% will be charged for redemption within 12 months. | Nil |
Axis Innovation vs Motilal Oswal BSE Select IPO ETF: Returns Comparison
Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.
| Fund | 1M | 3M | 6M | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|---|---|---|
| Axis Innovation Fund (Direct) | −2.74% | +3.52% | +10.00% | +8.24% | +18.43% | +10.45% | -- |
| Motilal Oswal BSE Select IPO ETF | −3.54% | −4.78% | +2.92% | -- | -- | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | +13.76% | +11.62% | -- |
Category average: the average of the 235 Thematic funds, same plan type.
Axis Innovation vs Motilal Oswal BSE Select IPO ETF: Year-wise Returns
| Year | Axis InnovationAxis Innovation | Motilal Oswal BSE Select IPO ETFMotilal Oswal BSE Select IPO ETF |
|---|---|---|
| 2026to date | +10.27% | −3.60% |
| 2025 | +4.16% | -- |
| 2024 | +29.15% | -- |
| 2023 | +25.60% | -- |
| 2022 | −11.97% | -- |
| 2021 | +35.52% | -- |
Axis Innovation vs Motilal Oswal BSE Select IPO ETF: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of Axis Innovation Fund
Axis Innovation vs Motilal Oswal BSE Select IPO ETF: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Axis Innovation Fund (Direct) | Motilal Oswal BSE Select IPO ETF |
|---|---|---|
| Return (CAGR) | +14.71% | −9.45% |
| Standard deviation | 13.74% | 18.49% |
| Sharpe ratio | 0.68 | -0.79 |
| Sortino ratio | 0.93 | -1.06 |
| Maximum drawdown | −23.6% (17-06-2022) | −22.0% (31-03-2026) |
| Beta | 0.84 | 1.00 |
| Alpha | +2.94% | −0.44% |
From daily NAVs, 28-12-2020 to 29-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
Drawdowns
How far below its previous high each one was on every day: the falls an investor had to sit through. 0% means it was at a new high.
Axis Innovation Fund (Direct)
Motilal Oswal BSE Select IPO ETF
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Axis Innovation Fund (Direct) | −13.4% | 26-11-2025 | 30-03-2026 | 04-05-2026 | 35 days | −6.2% |
| Motilal Oswal BSE Select IPO ETF | −22.0% | 20-11-2025 | 31-03-2026 | 25-08-2026 | 5 months | −9.7% |
| Nifty 500 TRI | −14.7% | 02-01-2026 | 30-03-2026 | Not yet | -- | −8.4% |
From daily values since 20-11-2025, the first day every fund has.
Axis Innovation vs Motilal Oswal BSE Select IPO ETF: Portfolio Overlap
From each fund's latest monthly portfolio: Axis Innovation Fund, September 2026; Motilal Oswal BSE Select IPO ETF, September 2026
Holdings in common
- Overlap
- 34.5%
- Held by both
- 21
- Only in Axis Innovation
- 30
- Only in Motilal Oswal BSE Select IPO ETF
- 49
| Security | % of Axis Innovation | % of Motilal Oswal BSE Select IPO ETF |
|---|---|---|
| Eternal Limited | 4.97% | 5.24% |
| One 97 Communications Limited | 3.63% | 5.01% |
| Lenskart Solutions Limited | 3.07% | 5.19% |
| FSN E-Commerce Ventures Limited | 2.83% | 3.21% |
| Meesho Ltd | 2.40% | 5.50% |
| Sona BLW Precision Forgings Limited | 2.29% | 2.72% |
| Ather Energy Limited | 3.18% | 1.97% |
| Billionbrains Garage Ventures Ltd | 2.32% | 1.93% |
| Sai Life Sciences Limited | 1.87% | 1.51% |
| Delhivery Limited | 1.42% | 1.77% |
| PB Fintech Limited | 1.42% | 2.77% |
| Swiggy Limited | 1.33% | 2.72% |
| Pine Labs Limited | 1.31% | 1.40% |
| Siemens Energy India Limited | 1.07% | 2.08% |
| Rubicon Research Limited | 0.88% | 0.78% |
| Sagility Limited | 1.33% | 0.72% |
| Anthem Biosciences Limited | 0.62% | 0.67% |
| Urban Company Ltd. | 1.60% | 0.39% |
| Tenneco Clean Air India Limited | 0.68% | 0.37% |
| Jyoti CNC Automation Ltd | 0.35% | 0.64% |
| Jain Resource Recycling Limited | 1.53% | 0.15% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 34.5% means 34.5% of each fund's money sits in positions the other also holds. Matched by ISIN. Cash and hedged positions are left out.
Largest holdings only in Axis Innovation Fund
| Security | % of fund |
|---|---|
| Aether Industries Limited | 2.72% |
| PTC Industries Limited | 2.23% |
| Indo-MIM Limited | 2.11% |
| Affle 3i Limited | 1.97% |
| Black Buck Ltd | 1.95% |
Largest holdings only in Motilal Oswal BSE Select IPO ETF
| Security | % of fund |
|---|---|
| Tata Motors Ltd | 4.97% |
| Jio Financial Services Limited | 4.92% |
| Life Insurance Corporation Of India | 4.00% |
| Vishal Mega Mart Limited | 2.07% |
| Hyundai Motor India Ltd | 2.05% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Axis Innovation | Motilal Oswal BSE Select IPO ETF |
|---|---|---|
| Equity | 92.0% | 100.0% |
| Debt | 0.4% | 0.0% |
| Cash and others | 7.6% | 0.0% |
Market cap of stocks
| Market cap | Axis Innovation | Motilal Oswal BSE Select IPO ETF |
|---|---|---|
| Large Cap | 15.4% | 25.8% |
| Mid Cap | 26.2% | 46.3% |
| Small Cap | 32.6% | 27.9% |
| Foreign stocks | 13.4% | 0.0% |
| Not on AMFI's list | 4.3% | 0.0% |
Share of the whole fund. Groups follow AMFI's latest list: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.
Largest sectors
| Sector | Axis Innovation | Motilal Oswal BSE Select IPO ETF |
|---|---|---|
| Retailing | 17.6% | 24.3% |
| Finance | 2.2% | 11.5% |
| Financial Technology (Fintech) | 6.4% | 9.2% |
| Chemicals & Petrochemicals | 8.3% | 0.0% |
| Pharmaceuticals & Biotechnology | 5.1% | 6.8% |
| Electrical Equipment | 4.4% | 5.1% |
| Capital Markets | 2.3% | 5.0% |
| Auto Components | 4.8% | 4.8% |
The six largest sectors of each fund's stocks, % of the fund.
Axis Innovation vs Motilal Oswal BSE Select IPO ETF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Axis Innovation Fund | Motilal Oswal BSE Select IPO ETF |
|---|---|---|
| Total expense ratio (Direct) | 1.36% | Not available |
| Base expense ratio (Direct) | 1.05% | 0.00% |
| Total expense ratio (Regular) | 2.29% | Not available |
| Base expense ratio (Regular) | 1.85% | 0.45% |
The expense ratio comes out of the fund's assets every day, so every return on this page is already after it. Base expense ratio: the fund house's own fee. The total adds brokerage, transaction costs, and levies with GST.
More comparisons
Each fund against the others of its category
Axis Innovation Fund vs Motilal Oswal BSE Select IPO ETF: Frequently Asked Questions
What is the difference between Axis Innovation Fund and Motilal Oswal BSE Select IPO ETF?
Axis Innovation Fund is a Thematic fund, Motilal Oswal BSE Select IPO ETF is an ETF fund, run by Axis Mutual Fund and Motilal Oswal Mutual Fund. Their portfolios overlap 34.5%. Axis Innovation Fund charges 1.36% a year and Motilal Oswal BSE Select IPO ETF 0.71%.
Which has the lower expense ratio, Axis Innovation Fund or Motilal Oswal BSE Select IPO ETF?
Motilal Oswal BSE Select IPO ETF charges less: 0.71% a year against 1.36%. These are the total expense ratios reported to AMFI.
How much do Axis Innovation Fund and Motilal Oswal BSE Select IPO ETF overlap?
34.5%. They hold 21 of the same securities, the largest shared ones being ETERNAL, PAYTM, LENSKART. From each fund's latest monthly portfolio.
Which is riskier, Axis Innovation Fund or Motilal Oswal BSE Select IPO ETF?
On SEBI's riskometer, Axis Innovation Fund is rated Very High and Motilal Oswal BSE Select IPO ETF Very High. Over their common history, the standard deviation of daily returns was 13.74% and 18.49% a year.
Can I invest in both Axis Innovation Fund and Motilal Oswal BSE Select IPO ETF?
Yes. 34.5% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Axis Innovation Fund and Motilal Oswal BSE Select IPO ETF?
Axis Innovation Fund: Ashish Naik, Krishnaa N. Motilal Oswal BSE Select IPO ETF: Swapnil Mayekar, Dishant Mehta, Rakesh Shetty.
Sources: NAV and expense ratio from AMFI. Holdings from each fund house's monthly portfolio statement. Fund facts from each scheme summary document.
This page is information, not investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Past returns do not promise future returns. Figures come from AMFI, NSE, BSE and each fund house's own documents.