Axis Nifty Capital Markets Index Fund vs Motilal Oswal Nifty MidSmall Financial Services Index Fund
Direct Plan, Growth option · Data as on 30-10-2026
Axis Nifty Capital Markets Index Fund is an Index fund and Motilal Oswal Nifty MidSmall Financial Services Index Fund is a mutual fund. Axis Nifty Capital Markets Index Fund charges 0.78% a year and Motilal Oswal Nifty MidSmall Financial Services Index Fund 0.89% (Direct plans). Their portfolios overlap 22.5%: they hold 9 of the same securities.
Axis Nifty Capital Markets Index Fund
Index
- Expense ratio
- 0.78%
- NAV
- ₹9.18
Motilal Oswal Nifty MidSmall Financial Services Index Fund
- Expense ratio
- 0.89%
- NAV
- ₹13.03
Which is better, Axis Nifty Capital Markets Index or Motilal Oswal Nifty MidSmall Financial Services Index? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Axis Nifty Capital Markets Index costs less: 0.78% a year against 0.89% (Direct plans).
- Axis Nifty Capital Markets Index fell less in its worst fall since 25-05-2026: −12.8% against −13.8%.
- Axis Nifty Capital Markets Index holds more in large companies: 40.5% of the fund in large caps against 8.0%.
- Axis Nifty Capital Markets Index is the larger fund: ₹124 Cr against ₹118 Cr.
- Their portfolios overlap 22.5%: 9 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 Nifty Capital Markets Index Fund | Motilal Oswal Nifty MidSmall Financial Services Index Fund |
|---|---|---|
| Fund house | Axis Mutual Fund | Motilal Oswal Mutual Fund |
| Category | Index | Not available |
| AUM | ₹124 Cr (30-09-2026) | ₹118 Cr (30-09-2026) |
| NAV | ₹9.18 (Direct) | ₹13.03 (Direct) |
| Expense ratio (Direct) | 0.78% | 0.89% |
| Expense ratio (Regular) | 1.53% | 1.29% |
| Riskometer | Very High | Not available |
| Benchmark | Nifty Capital Markets Index (TRI) | Not available |
| Launch date | 20-05-2026 | Not available |
| Minimum investment | ₹100 | Not available |
| Lock in | None | Not available |
| Fund managers | Nandik Malik, Rohit Gautam | Not available |
| Exit load | Exit load of 0.25%, if redeemed within 15 Days. | Not available |
Axis Nifty Capital Markets Index vs Motilal Oswal Nifty MidSmall Financial Services Index: 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 Nifty Capital Markets Index Fund (Direct) | +0.87% | −1.81% | -- | -- | -- | -- | -- |
| Motilal Oswal Nifty MidSmall Financial Services Index Fund (Direct) | −5.32% | −9.84% | −6.11% | +0.78% | -- | -- | -- |
Axis Nifty Capital Markets Index vs Motilal Oswal Nifty MidSmall Financial Services Index: Year-wise Returns
| Year | Axis Nifty Capital MarketsAxis Nifty Capital Markets Index | Motilal Oswal Nifty MidSmall Financial ServicesMotilal Oswal Nifty MidSmall Financial Services Index |
|---|---|---|
| 2026to date | -- | −4.06% |
| 2025 | -- | +30.50% |
Axis Nifty Capital Markets Index vs Motilal Oswal Nifty MidSmall Financial Services Index: Rolling Returns
Every holding period of both funds, against Nifty Capital Markets TRI, the benchmark of Axis Nifty Capital Markets Index Fund
Axis Nifty Capital Markets Index vs Motilal Oswal Nifty MidSmall Financial Services Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Axis Nifty Capital Markets Index Fund (Direct) | Motilal Oswal Nifty MidSmall Financial Services Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | −19.44% | +13.57% |
| Standard deviation | 19.59% | 21.10% |
| Sharpe ratio | -1.26 | 0.38 |
| Sortino ratio | -1.74 | 0.54 |
| Maximum drawdown | −12.8% (23-10-2026) | −19.9% (13-03-2025) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.30% | −0.90% |
From daily NAVs, 25-05-2026 to 30-10-2026. 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 Nifty Capital Markets Index Fund (Direct)
Motilal Oswal Nifty MidSmall Financial Services Index Fund (Direct)
Nifty Capital Markets TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Axis Nifty Capital Markets Index Fund (Direct) | −12.8% | 26-05-2026 | 23-10-2026 | Not yet | -- | −9.3% |
| Motilal Oswal Nifty MidSmall Financial Services Index Fund (Direct) | −13.8% | 26-08-2026 | 23-10-2026 | Not yet | -- | −13.6% |
| Nifty Capital Markets TRI | −12.7% | 26-05-2026 | 23-10-2026 | Not yet | -- | −9.2% |
From daily values since 25-05-2026, the first day every fund has.
Axis Nifty Capital Markets Index vs Motilal Oswal Nifty MidSmall Financial Services Index: Portfolio Overlap
From each fund's latest monthly portfolio: Axis Nifty Capital Markets Index Fund, September 2026; Motilal Oswal Nifty MidSmall Financial Services Index Fund, September 2026
Holdings in common
- Overlap
- 22.5%
- Held by both
- 9
- Only in Axis Nifty Capital Markets Index
- 8
- Only in Motilal Oswal Nifty MidSmall Financial Services Index
- 21
| Security | % of Axis Nifty Capital Markets Index | % of Motilal Oswal Nifty MidSmall Financial Services Index |
|---|---|---|
| Multi Commodity Exchange of India Limited | 18.88% | 8.52% |
| 360 One WAM Limited | 6.07% | 2.74% |
| Central Depository Services (India) Limited | 5.05% | 2.28% |
| Nippon Life India Asset Management Limited | 4.33% | 1.95% |
| Angel One Limited | 4.01% | 1.81% |
| Computer Age Management Services Limited | 3.62% | 1.63% |
| Motilal Oswal Financial Services Limited | 3.54% | 1.60% |
| KFin Technologies Limited | 2.52% | 1.14% |
| Indian Energy Exchange Limited | 1.91% | 0.86% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 22.5% means 22.5% 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 Nifty Capital Markets Index Fund
| Security | % of fund |
|---|---|
| BSE Limited | 20.02% |
| HDFC Asset Management Company Limited | 10.44% |
| Billionbrains Garage Ventures Ltd | 5.90% |
| Anand Rathi Wealth Limited | 4.35% |
| ICICI Prudential Asset Management Company Limited | 4.11% |
Largest holdings only in Motilal Oswal Nifty MidSmall Financial Services Index Fund
| Security | % of fund |
|---|---|
| The Federal Bank Limited | 7.93% |
| One 97 Communications Limited | 7.31% |
| IndusInd Bank Limited | 6.01% |
| AU Small Finance Bank Limited | 5.94% |
| IDFC First Bank Limited | 5.47% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Axis Nifty Capital Markets Index | Motilal Oswal Nifty MidSmall Financial Services Index |
|---|---|---|
| Equity | 100.2% | 100.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | -0.2% | -0.0% |
Market cap of stocks
| Market cap | Axis Nifty Capital Markets Index | Motilal Oswal Nifty MidSmall Financial Services Index |
|---|---|---|
| Large Cap | 40.5% | 8.0% |
| Mid Cap | 32.8% | 77.1% |
| Small Cap | 26.9% | 15.0% |
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 Nifty Capital Markets Index | Motilal Oswal Nifty MidSmall Financial Services Index |
|---|---|---|
| Capital Markets | 100.2% | 22.5% |
| Banks | 0.0% | 35.3% |
| Finance | 0.0% | 16.6% |
| Insurance | 0.0% | 14.5% |
| Financial Technology (Fintech) | 0.0% | 11.1% |
The six largest sectors of each fund's stocks, % of the fund.
Axis Nifty Capital Markets Index vs Motilal Oswal Nifty MidSmall Financial Services Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Axis Nifty Capital Markets Index Fund | Motilal Oswal Nifty MidSmall Financial Services Index Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.78% | 0.89% |
| Base expense ratio (Direct) | 0.20% | 0.55% |
| Total expense ratio (Regular) | 1.53% | 1.29% |
| Base expense ratio (Regular) | 0.90% | 0.90% |
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.
Axis Nifty Capital Markets Index Fund vs Motilal Oswal Nifty MidSmall Financial Services Index Fund: Frequently Asked Questions
What is the difference between Axis Nifty Capital Markets Index Fund and Motilal Oswal Nifty MidSmall Financial Services Index Fund?
Axis Nifty Capital Markets Index Fund is an Index fund, Motilal Oswal Nifty MidSmall Financial Services Index Fund is a mutual fund, run by Axis Mutual Fund and Motilal Oswal Mutual Fund. Their portfolios overlap 22.5%. Axis Nifty Capital Markets Index Fund charges 0.78% a year and Motilal Oswal Nifty MidSmall Financial Services Index Fund 0.89%.
Which has the lower expense ratio, Axis Nifty Capital Markets Index Fund or Motilal Oswal Nifty MidSmall Financial Services Index Fund?
Axis Nifty Capital Markets Index Fund charges less: 0.78% a year against 0.89%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Axis Nifty Capital Markets Index Fund and Motilal Oswal Nifty MidSmall Financial Services Index Fund overlap?
22.5%. They hold 9 of the same securities, the largest shared ones being MCX, 360ONE, CDSL. From each fund's latest monthly portfolio.
Can I invest in both Axis Nifty Capital Markets Index Fund and Motilal Oswal Nifty MidSmall Financial Services Index Fund?
Yes. 22.5% of each fund's money sits in the same holdings, so some of the two investments would move together.
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.