Axis Nifty India Defence Index Fund vs Motilal Oswal Nifty India Defence ETF
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
Axis Nifty India Defence Index Fund is an Index fund and Motilal Oswal Nifty India Defence ETF is an ETF fund. Axis Nifty India Defence Index Fund charges 0.65% a year and Motilal Oswal Nifty India Defence ETF 0.60%. Their portfolios overlap 98.8%: they hold 22 of the same securities.
Axis Nifty India Defence Index Fund
Index
- Expense ratio
- 0.65%
- NAV
- ₹9.65
Motilal Oswal Nifty India Defence ETF
ETF
- Expense ratio
- 0.60%
- NAV
- ₹95.53
Which is better, Axis Nifty India Defence Index or Motilal Oswal Nifty India Defence 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 Nifty India Defence ETF costs less: 0.60% a year against 0.65%.
- Axis Nifty India Defence Index fell less in its worst fall since 06-05-2026: −14.4% against −14.4%.
- Motilal Oswal Nifty India Defence ETF is the larger fund: ₹1,289 Cr against ₹368 Cr.
- Their portfolios overlap 98.8%: 22 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 India Defence Index Fund | Motilal Oswal Nifty India Defence ETF |
|---|---|---|
| Fund house | Axis Mutual Fund | Motilal Oswal Mutual Fund |
| Category | Index | ETF |
| AUM | ₹368 Cr (30-09-2026) | ₹1,289 Cr (30-09-2026) |
| NAV | ₹9.65 (Direct) | ₹95.53 |
| Expense ratio (Direct) | 0.65% | Not available |
| Expense ratio (Regular) | 1.45% | Not available |
| Riskometer | Very High | Very High |
| Benchmark | Nifty India Defence TRI | Nifty India Defence TRI |
| Launch date | 29-04-2026 | 21-08-2024 |
| Minimum investment | ₹100 | ₹500 |
| Lock in | None | None |
| Fund managers | Nandik Malik, Rohit Gautam | Swapnil Mayekar, Rakesh Shetty |
| Exit load | Exit load of 0.25%, if redeemed within 15 days. | Nil |
Axis Nifty India Defence Index vs Motilal Oswal Nifty India Defence 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 Nifty India Defence Index Fund (Direct) | −6.25% | −5.28% | -- | -- | -- | -- | -- |
| Motilal Oswal Nifty India Defence ETF | −6.20% | −5.29% | −3.06% | +8.19% | -- | -- | -- |
Axis Nifty India Defence Index vs Motilal Oswal Nifty India Defence ETF: Year-wise Returns
| Year | Axis Nifty India Defence IndexAxis Nifty India Defence Index | Motilal Oswal Nifty India Defence ETFMotilal Oswal Nifty India Defence ETF | Nifty India Defence TRI |
|---|---|---|---|
| 2026to date | -- | +12.47% | +12.90% |
| 2025 | -- | +19.48% | +19.98% |
Axis Nifty India Defence Index vs Motilal Oswal Nifty India Defence ETF: Rolling Returns
Every holding period of both funds, against Nifty India Defence TRI, the benchmark of both
Axis Nifty India Defence Index vs Motilal Oswal Nifty India Defence ETF: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Axis Nifty India Defence Index Fund (Direct) | Motilal Oswal Nifty India Defence ETF |
|---|---|---|
| Return (CAGR) | −9.67% | +10.64% |
| Standard deviation | 22.28% | 27.28% |
| Sharpe ratio | -0.67 | 0.18 |
| Sortino ratio | -0.87 | 0.26 |
| Maximum drawdown | −14.4% (23-10-2026) | −27.6% (18-02-2025) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.38% | −0.48% |
From daily NAVs, 06-05-2026 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 India Defence Index Fund (Direct)
Motilal Oswal Nifty India Defence ETF
Nifty India Defence TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Axis Nifty India Defence Index Fund (Direct) | −14.4% | 08-09-2026 | 23-10-2026 | Not yet | -- | −13.0% |
| Motilal Oswal Nifty India Defence ETF | −14.4% | 08-09-2026 | 23-10-2026 | Not yet | -- | −13.0% |
| Nifty India Defence TRI | −14.3% | 08-09-2026 | 23-10-2026 | Not yet | -- | −12.9% |
From daily values since 06-05-2026, the first day every fund has.
Axis Nifty India Defence Index vs Motilal Oswal Nifty India Defence ETF: Portfolio Overlap
From each fund's latest monthly portfolio: Axis Nifty India Defence Index Fund, September 2026; Motilal Oswal Nifty India Defence ETF, September 2026
Holdings in common
- Overlap
- 98.8%
- Held by both
- 22
- Only in Axis Nifty India Defence Index
- 0
- Only in Motilal Oswal Nifty India Defence ETF
- 0
| Security | % of Axis Nifty India Defence Index | % of Motilal Oswal Nifty India Defence ETF |
|---|---|---|
| Bharat Electronics Limited | 20.01% | 19.95% |
| Hindustan Aeronautics Limited | 19.72% | 19.67% |
| Bharat Forge Limited | 13.31% | 13.27% |
| Solar Industries India Limited | 11.93% | 11.90% |
| MTAR Technologies Limited | 4.21% | 4.21% |
| Mazagon Dock Shipbuilders Limited | 3.99% | 3.98% |
| Astra Microwave Products Limited | 3.44% | 3.44% |
| Data Patterns (India) Limited | 3.24% | 3.23% |
| Cochin Shipyard Limited | 3.16% | 3.15% |
| Bharat Dynamics Limited | 2.54% | 2.54% |
| BEML Limited | 1.89% | 1.89% |
| Zen Technologies Limited | 1.84% | 1.84% |
| Apollo Micro Systems Limited | 1.64% | 1.64% |
| Garden Reach Shipbuilders & Engineers Limited | 1.59% | 1.59% |
| Dynamatic Technologies Limited | 1.33% | 1.32% |
| Paras Defence and Space Technologies Limited | 1.16% | 1.15% |
| Aequs Limited | 1.15% | 1.14% |
| AXISCADES Technologies Limited | 0.99% | 0.99% |
| Centum Electronics Limited | 0.93% | 0.92% |
| Mishra Dhatu Nigam Limited | 0.53% | 0.53% |
| Unimech Aerospace and Manufacturing Limited | 0.38% | 0.38% |
| Sigma Advanced Systems Limited | 0.08% | 1.22% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 98.8% means 98.8% 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 India Defence Index Fund
Every holding of this fund is also held by the other.
Largest holdings only in Motilal Oswal Nifty India Defence ETF
Every holding of this fund is also held by the other.
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Axis Nifty India Defence Index | Motilal Oswal Nifty India Defence ETF |
|---|---|---|
| Equity | 99.1% | 100.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 0.9% | 0.0% |
Market cap of stocks
| Market cap | Axis Nifty India Defence Index | Motilal Oswal Nifty India Defence ETF |
|---|---|---|
| Large Cap | 51.7% | 51.5% |
| Mid Cap | 23.0% | 22.9% |
| Small Cap | 24.4% | 25.5% |
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 India Defence Index | Motilal Oswal Nifty India Defence ETF |
|---|---|---|
| Aerospace & Defense | 59.2% | 60.2% |
| Auto Components | 13.3% | 13.3% |
| Chemicals & Petrochemicals | 11.9% | 11.9% |
| Industrial Manufacturing | 8.5% | 8.4% |
| Electrical Equipment | 4.2% | 4.2% |
| Agricultural, Commercial & Construction Vehicles | 1.9% | 1.9% |
The six largest sectors of each fund's stocks, % of the fund.
Axis Nifty India Defence Index vs Motilal Oswal Nifty India Defence ETF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Axis Nifty India Defence Index Fund | Motilal Oswal Nifty India Defence ETF |
|---|---|---|
| Total expense ratio (Direct) | 0.65% | Not available |
| Base expense ratio (Direct) | 0.20% | 0.00% |
| Total expense ratio (Regular) | 1.45% | Not available |
| Base expense ratio (Regular) | 0.90% | 0.35% |
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 India Defence Index Fund vs Motilal Oswal Nifty India Defence ETF: Frequently Asked Questions
What is the difference between Axis Nifty India Defence Index Fund and Motilal Oswal Nifty India Defence ETF?
Axis Nifty India Defence Index Fund is an Index fund, Motilal Oswal Nifty India Defence ETF is an ETF fund, run by Axis Mutual Fund and Motilal Oswal Mutual Fund. Their portfolios overlap 98.8%. Axis Nifty India Defence Index Fund charges 0.65% a year and Motilal Oswal Nifty India Defence ETF 0.60%.
Which has the lower expense ratio, Axis Nifty India Defence Index Fund or Motilal Oswal Nifty India Defence ETF?
Motilal Oswal Nifty India Defence ETF charges less: 0.60% a year against 0.65%. These are the total expense ratios reported to AMFI.
How much do Axis Nifty India Defence Index Fund and Motilal Oswal Nifty India Defence ETF overlap?
98.8%. They hold 22 of the same securities, the largest shared ones being BEL, HAL, BHARATFORG. From each fund's latest monthly portfolio.
Which is riskier, Axis Nifty India Defence Index Fund or Motilal Oswal Nifty India Defence ETF?
On SEBI's riskometer, Axis Nifty India Defence Index Fund is rated Very High and Motilal Oswal Nifty India Defence ETF Very High. Over their common history, the standard deviation of daily returns was 22.28% and 27.28% a year.
Can I invest in both Axis Nifty India Defence Index Fund and Motilal Oswal Nifty India Defence ETF?
Yes. 98.8% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Axis Nifty India Defence Index Fund and Motilal Oswal Nifty India Defence ETF?
Axis Nifty India Defence Index Fund: Nandik Malik, Rohit Gautam. Motilal Oswal Nifty India Defence ETF: Swapnil Mayekar, 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.