Axis NIFTY Midcap 50 Index Fund vs Motilal Oswal Nifty Midcap 100 ETF
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
Axis NIFTY Midcap 50 Index Fund is an Index fund and Motilal Oswal Nifty Midcap 100 ETF is an ETF fund. In the 3 years to 30-10-2026, Axis NIFTY Midcap 50 Index Fund (Direct) returned 14.6% a year and Motilal Oswal Nifty Midcap 100 ETF returned 14.5% a year. Axis NIFTY Midcap 50 Index Fund charges 0.37% a year and Motilal Oswal Nifty Midcap 100 ETF 0.34%. Their portfolios overlap 65.9%: they hold 50 of the same securities.
Axis NIFTY Midcap 50 Index Fund
Index
- 3 year return
- 14.6%
- Expense ratio
- 0.37%
- NAV
- ₹20.10
Motilal Oswal Nifty Midcap 100 ETF
ETF
- 3 year return
- 14.5%
- Expense ratio
- 0.34%
- NAV
- ₹61.90
Which is better, Axis NIFTY Midcap 50 Index or Motilal Oswal Nifty Midcap 100 ETF? 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 Midcap 50 Index returned more over 3 years: 14.6% a year against 14.5%.
- Axis NIFTY Midcap 50 Index returned more over 1 year: −2.9% against −4.1%.
- Motilal Oswal Nifty Midcap 100 ETF costs less: 0.34% a year against 0.37%.
- Axis NIFTY Midcap 50 Index swung less over 3 years: a standard deviation of 17.9% a year against 17.9%.
- Axis NIFTY Midcap 50 Index fell less in its worst fall since 31-03-2022: −20.3% against −21.1%.
- Motilal Oswal Nifty Midcap 100 ETF is the larger fund: ₹821 Cr against ₹732 Cr.
- Their portfolios overlap 65.9%: 50 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 Midcap 50 Index Fund | Motilal Oswal Nifty Midcap 100 ETF |
|---|---|---|
| Fund house | Axis Mutual Fund | Motilal Oswal Mutual Fund |
| Category | Index | ETF |
| AUM | ₹732 Cr (30-09-2026) | ₹821 Cr (30-09-2026) |
| NAV | ₹20.10 (Direct) | ₹61.90 |
| Expense ratio (Direct) | 0.37% | Not available |
| Expense ratio (Regular) | 1.16% | Not available |
| Riskometer | Very High | Very High |
| Benchmark | NIFTY Midcap 50 TRI | NIFTY Midcap 100 TRI |
| Launch date | 28-03-2022 | 31-01-2011 |
| Minimum investment | ₹100 | ₹500 |
| Lock in | None | None |
| Fund managers | Nandik Malik, Rohit Gautam | Swapnil Mayekar |
| Exit load | 0.25% if redeemed / switched out within 7 days from the date of allotment/ Investment w.e.f., 24/03/2022 | Yes |
Axis NIFTY Midcap 50 Index vs Motilal Oswal Nifty Midcap 100 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 Midcap 50 Index Fund (Direct) | −3.00% | −8.36% | −1.97% | −2.86% | +14.59% | -- | -- |
| Motilal Oswal Nifty Midcap 100 ETF | −3.38% | −8.43% | −3.85% | −4.14% | +14.53% | +14.09% | +14.13% |
Axis NIFTY Midcap 50 Index vs Motilal Oswal Nifty Midcap 100 ETF: Year-wise Returns
| Year | Axis NIFTY Midcap 50 IndexAxis NIFTY Midcap 50 Index | Motilal Oswal Nifty Midcap 100 ETFMotilal Oswal Nifty Midcap 100 ETF |
|---|---|---|
| 2026to date | −4.07% | −4.83% |
| 2025 | +8.32% | +6.22% |
| 2024 | +21.56% | +24.51% |
| 2023 | +50.07% | +47.37% |
| 2022 | -- | +4.11% |
| 2021 | -- | +46.83% |
Axis NIFTY Midcap 50 Index vs Motilal Oswal Nifty Midcap 100 ETF: Rolling Returns
Every holding period of both funds, against Nifty Midcap 50 TRI, the benchmark of Axis NIFTY Midcap 50 Index Fund
Rolling returns
Every 3-year holding period, 396 of them, one for each trading day from 31-03-2025 to 30-10-2026: the yearly return (CAGR) of each, plotted on the day it ended. One lucky or unlucky start day cannot flatter or hide a fund.
Axis NIFTY Midcap 50 Index Fund (Direct)
Motilal Oswal Nifty Midcap 100 ETF
Nifty Midcap 50 TRI
to
May 2025Aug 2022
to
Aug 2025Nov 2022
to
Nov 2025Mar 2023
to
Mar 2026Jun 2023
to
Jun 2026Sept 2023
to
Sept 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Axis NIFTY Midcap 50 Index | 0.0 | 0.0 | 0.0 | 6.1 | 12.6 | 46.0 | 35.4 | 23.4% | 24.1% | 12.9% | 32.5% | 0% |
| Motilal Oswal Nifty Midcap 100 ETF | 0.0 | 0.0 | 0.0 | 5.9 | 13.8 | 51.2 | 29.2 | 23.1% | 23.6% | 13.3% | 32.5% | 1% |
| Nifty Midcap 50 TRI | 0.0 | 0.0 | 0.0 | 4.5 | 12.9 | 34.1 | 48.5 | 24.1% | 24.9% | 13.4% | 33.5% | -- |
The table shows the % of periods in each return band; a darker cell holds more of them. Lumpsum: the yearly rate (CAGR) from a period's first NAV to its last. SIP: the XIRR of the monthly instalments. The benchmark is Nifty Midcap 50 TRI, over the same periods. "Beat benchmark" counts the periods in which the fund did better. Every fund is measured over the days all of them have, from 31-03-2022. Past returns do not promise future returns.
Axis NIFTY Midcap 50 Index vs Motilal Oswal Nifty Midcap 100 ETF: SIP and Lumpsum Returns
What the same monthly or one-time investment would be worth in each fund today, from their own NAV history
Growth of an investment
₹10,000 on the first trading day of every month, from 31-03-2022 to 30-10-2026: 56 instalments, ₹5,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Axis NIFTY Midcap 50 IndexAxis NIFTY Midcap 50 Index Fund (Direct) | ₹5,60,000 | ₹7,59,496 | ₹1,99,496 | 13.1% |
| Motilal Oswal Nifty Midcap 100 ETFMotilal Oswal Nifty Midcap 100 ETF | ₹5,60,000 | ₹7,47,951 | ₹1,87,951 | 12.4% |
Axis NIFTY Midcap 50 IndexAxis NIFTY Midcap 50 Index Fund (Direct)
Motilal Oswal Nifty Midcap 100 ETFMotilal Oswal Nifty Midcap 100 ETF
Amount invested
From each plan's published NAV (Growth option), over the same days. Return a year: XIRR for a SIP, CAGR for a lumpsum, shown for a year or more. It does not include exit load, stamp duty or tax. Past returns do not promise future returns.
Axis NIFTY Midcap 50 Index vs Motilal Oswal Nifty Midcap 100 ETF: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Axis NIFTY Midcap 50 Index Fund (Direct) | Motilal Oswal Nifty Midcap 100 ETF |
|---|---|---|
| Return (CAGR) | −2.86% | −4.14% |
| Standard deviation | 16.82% | 17.09% |
| Sharpe ratio | -0.48 | -0.55 |
| Sortino ratio | -0.65 | -0.73 |
| Maximum drawdown | −14.5% (31-03-2026) | −14.2% (30-03-2026) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.30% | −0.08% |
From daily NAVs, 30-10-2025 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.
| Measure | Axis NIFTY Midcap 50 Index Fund (Direct) | Motilal Oswal Nifty Midcap 100 ETF |
|---|---|---|
| Return (CAGR) | +14.59% | +14.53% |
| Standard deviation | 17.85% | 17.94% |
| Sharpe ratio | 0.48 | 0.47 |
| Sortino ratio | 0.65 | 0.63 |
| Maximum drawdown | −20.3% (28-02-2025) | −21.1% (28-02-2025) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.46% | −0.09% |
From daily NAVs, 30-10-2023 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.
| Measure | Axis NIFTY Midcap 50 Index Fund (Direct) | Motilal Oswal Nifty Midcap 100 ETF |
|---|---|---|
| Return (CAGR) | +16.44% | +14.02% |
| Standard deviation | 16.94% | 18.20% |
| Sharpe ratio | 0.62 | 0.43 |
| Sortino ratio | 0.83 | 0.56 |
| Maximum drawdown | −20.3% (28-02-2025) | −48.4% (23-03-2020) |
| Beta | 0.99 | -- |
| Alpha | −0.85% | -- |
From daily NAVs, 31-03-2022 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 Midcap 50 Index Fund (Direct)
Motilal Oswal Nifty Midcap 100 ETF
Nifty Midcap 50 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Axis NIFTY Midcap 50 Index Fund (Direct) | −20.3% | 24-09-2024 | 28-02-2025 | 29-10-2025 | 8 months | −10.7% |
| Motilal Oswal Nifty Midcap 100 ETF | −21.1% | 24-09-2024 | 28-02-2025 | 12-11-2025 | 8 months | −10.7% |
| Nifty Midcap 50 TRI | −20.2% | 24-09-2024 | 28-02-2025 | 27-10-2025 | 8 months | −10.6% |
From daily values since 31-03-2022, the first day every fund has.
Rolling standard deviation
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 1-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Axis NIFTY Midcap 50 Index Fund (Direct)
Motilal Oswal Nifty Midcap 100 ETF
Nifty Midcap 50 TRI
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 3-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Axis NIFTY Midcap 50 Index Fund (Direct)
Motilal Oswal Nifty Midcap 100 ETF
Nifty Midcap 50 TRI
Against Nifty Midcap 50 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Axis NIFTY Midcap 50 Index Fund (Direct) | 99% | 102% | 0.63% |
| Motilal Oswal Nifty Midcap 100 ETF | 97% | 100% | 2.66% |
From month-end values since 31-03-2022. Up capture: a fund's average month when the benchmark rose, as % of the benchmark's; above 100% it gained more. Down capture: the same for months the benchmark fell; below 100% it fell less. Tracking error: how far the monthly returns strayed from the benchmark's, a year; an index fund aims near 0.
Axis NIFTY Midcap 50 Index vs Motilal Oswal Nifty Midcap 100 ETF: Portfolio Overlap
From each fund's latest monthly portfolio: Axis NIFTY Midcap 50 Index Fund, September 2026; Motilal Oswal Nifty Midcap 100 ETF, September 2026
Holdings in common
- Overlap
- 65.9%
- Held by both
- 50
- Only in Axis NIFTY Midcap 50 Index
- 0
- Only in Motilal Oswal Nifty Midcap 100 ETF
- 50
| Security | % of Axis NIFTY Midcap 50 Index | % of Motilal Oswal Nifty Midcap 100 ETF |
|---|---|---|
| Multi Commodity Exchange of India Limited | 3.92% | 2.58% |
| The Federal Bank Limited | 3.65% | 2.40% |
| Laurus Labs Limited | 3.59% | 2.36% |
| One 97 Communications Limited | 3.36% | 2.21% |
| Hero MotoCorp Limited | 3.17% | 2.09% |
| The Indian Hotels Company Limited | 2.98% | 1.96% |
| Bharat Heavy Electricals Limited | 2.82% | 1.86% |
| IndusInd Bank Limited | 2.76% | 1.82% |
| AU Small Finance Bank Limited | 2.73% | 1.80% |
| Persistent Systems Limited | 2.67% | 1.76% |
| Dixon Technologies (India) Limited | 2.54% | 1.67% |
| IDFC First Bank Limited | 2.52% | 1.66% |
| Bharat Forge Limited | 2.49% | 1.64% |
| GE Vernova T&D India Limited | 2.42% | 1.60% |
| Lupin Limited | 2.30% | 1.51% |
| Indus Towers Limited | 2.24% | 1.47% |
| Suzlon Energy Limited | 2.24% | 1.47% |
| Info Edge (India) Limited | 2.20% | 1.45% |
| Aurobindo Pharma Limited | 2.15% | 1.42% |
| Ashok Leyland Limited | 2.05% | 1.35% |
| FSN E-Commerce Ventures Limited | 2.04% | 1.34% |
| Marico Limited | 1.94% | 1.28% |
| Fortis Healthcare Limited | 1.87% | 1.23% |
| United Spirits Limited | 1.86% | 1.23% |
| APL Apollo Tubes Limited | 1.86% | 1.22% |
| ICICI Lombard General Insurance Company Limited | 1.80% | 1.19% |
| PB Fintech Limited | 1.76% | 1.16% |
| Swiggy Limited | 1.75% | 1.15% |
| REC Limited | 1.74% | 1.14% |
| Yes Bank Limited | 1.71% | 1.13% |
| Max Financial Services Limited | 1.70% | 1.12% |
| The Phoenix Mills Limited | 1.68% | 1.11% |
| SRF Limited | 1.67% | 1.10% |
| Glenmark Pharmaceuticals Limited | 1.64% | 1.08% |
| Hindustan Petroleum Corporation Limited | 1.57% | 1.03% |
| GMR Airports Limited | 1.54% | 1.01% |
| National Aluminium Company Limited | 1.42% | 0.94% |
| JSW Energy Limited | 1.41% | 0.93% |
| UPL Limited | 1.41% | 0.93% |
| Mankind Pharma Limited | 1.32% | 0.87% |
| Vishal Mega Mart Limited | 1.32% | 0.87% |
| NHPC Limited | 1.28% | 0.84% |
| NMDC Limited | 1.23% | 0.81% |
| Havells India Limited | 1.19% | 0.78% |
| Tube Investments of India Limited | 1.18% | 0.78% |
| Prestige Estates Projects Limited | 1.16% | 0.77% |
| Oil India Limited | 1.14% | 0.75% |
| Waaree Energies Limited | 1.06% | 0.70% |
| Dabur India Limited | 1.04% | 0.69% |
| Godrej Properties Limited | 1.03% | 0.67% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 65.9% means 65.9% 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 Midcap 50 Index Fund
Every holding of this fund is also held by the other.
Largest holdings only in Motilal Oswal Nifty Midcap 100 ETF
| Security | % of fund |
|---|---|
| Coforge Limited | 1.87% |
| Life Insurance Corporation Of India | 1.54% |
| Lenskart Solutions Limited | 1.54% |
| Radico Khaitan Limited | 1.05% |
| Lodha Developers Limited | 1.03% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Axis NIFTY Midcap 50 Index | Motilal Oswal Nifty Midcap 100 ETF |
|---|---|---|
| Equity | 100.1% | 100.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | -0.1% | -0.0% |
Market cap of stocks
| Market cap | Axis NIFTY Midcap 50 Index | Motilal Oswal Nifty Midcap 100 ETF |
|---|---|---|
| Large Cap | 5.1% | 7.1% |
| Mid Cap | 95.1% | 91.3% |
| Small Cap | 0.0% | 1.6% |
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 Midcap 50 Index | Motilal Oswal Nifty Midcap 100 ETF |
|---|---|---|
| Banks | 13.4% | 10.7% |
| Pharmaceuticals & Biotechnology | 11.0% | 8.0% |
| Electrical Equipment | 8.5% | 7.0% |
| Retailing | 7.3% | 7.0% |
| IT - Software | 2.7% | 5.3% |
| Capital Markets | 3.9% | 5.3% |
| Financial Technology (Fintech) | 5.1% | 3.4% |
The six largest sectors of each fund's stocks, % of the fund.
Axis NIFTY Midcap 50 Index vs Motilal Oswal Nifty Midcap 100 ETF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Axis NIFTY Midcap 50 Index Fund | Motilal Oswal Nifty Midcap 100 ETF |
|---|---|---|
| Total expense ratio (Direct) | 0.37% | Not available |
| Base expense ratio (Direct) | 0.20% | 0.00% |
| Total expense ratio (Regular) | 1.16% | Not available |
| Base expense ratio (Regular) | 0.89% | 0.20% |
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 Midcap 50 Index Fund vs Motilal Oswal Nifty Midcap 100 ETF: Frequently Asked Questions
What is the difference between Axis NIFTY Midcap 50 Index Fund and Motilal Oswal Nifty Midcap 100 ETF?
Axis NIFTY Midcap 50 Index Fund is an Index fund, Motilal Oswal Nifty Midcap 100 ETF is an ETF fund, run by Axis Mutual Fund and Motilal Oswal Mutual Fund. Their portfolios overlap 65.9%. Axis NIFTY Midcap 50 Index Fund charges 0.37% a year and Motilal Oswal Nifty Midcap 100 ETF 0.34%.
Which has given higher returns, Axis NIFTY Midcap 50 Index Fund or Motilal Oswal Nifty Midcap 100 ETF?
Over 1 year: Axis NIFTY Midcap 50 Index Fund −2.86%, Motilal Oswal Nifty Midcap 100 ETF −4.14%. Over 3 years: Axis NIFTY Midcap 50 Index Fund +14.59% a year, Motilal Oswal Nifty Midcap 100 ETF +14.53% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Axis NIFTY Midcap 50 Index Fund or Motilal Oswal Nifty Midcap 100 ETF?
Motilal Oswal Nifty Midcap 100 ETF charges less: 0.34% a year against 0.37%. These are the total expense ratios reported to AMFI.
How much do Axis NIFTY Midcap 50 Index Fund and Motilal Oswal Nifty Midcap 100 ETF overlap?
65.9%. They hold 50 of the same securities, the largest shared ones being MCX, FEDERALBNK, LAURUSLABS. From each fund's latest monthly portfolio.
Which is riskier, Axis NIFTY Midcap 50 Index Fund or Motilal Oswal Nifty Midcap 100 ETF?
On SEBI's riskometer, Axis NIFTY Midcap 50 Index Fund is rated Very High and Motilal Oswal Nifty Midcap 100 ETF Very High. Over 3 years, the standard deviation of daily returns was 17.85% and 17.94% a year.
Which is better for SIP, Axis NIFTY Midcap 50 Index Fund or Motilal Oswal Nifty Midcap 100 ETF?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹3,99,164 in Axis NIFTY Midcap 50 Index Fund (XIRR 4.9% a year) and ₹3,93,551 in Motilal Oswal Nifty Midcap 100 ETF (XIRR 4.0% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both Axis NIFTY Midcap 50 Index Fund and Motilal Oswal Nifty Midcap 100 ETF?
Yes. 65.9% 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 Midcap 50 Index Fund and Motilal Oswal Nifty Midcap 100 ETF?
Axis NIFTY Midcap 50 Index Fund: Nandik Malik, Rohit Gautam. Motilal Oswal Nifty Midcap 100 ETF: Swapnil Mayekar.
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.