Groww ELSS Tax Saver Fund vs Motilal Oswal Nifty 100 ETF
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
Groww ELSS Tax Saver Fund is an ELSS fund and Motilal Oswal Nifty 100 ETF is an ETF fund. In the year to 30-10-2026, Groww ELSS Tax Saver Fund (Direct) returned −9.4% and Motilal Oswal Nifty 100 ETF returned −9.1%. Groww ELSS Tax Saver Fund charges 1.52% a year and Motilal Oswal Nifty 100 ETF 0.68%. Their portfolios overlap 68.7%: they hold 59 of the same securities.
Groww ELSS Tax Saver Fund
ELSS
- 1 year return
- −9.4%
- Expense ratio
- 1.52%
- NAV
- ₹20.99
Motilal Oswal Nifty 100 ETF
ETF
- 1 year return
- −9.1%
- Expense ratio
- 0.68%
- NAV
- ₹24.13
Which is better, Groww ELSS Tax Saver or Motilal Oswal Nifty 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.
- Motilal Oswal Nifty 100 ETF returned more over 1 year: −9.1% against −9.4%.
- Motilal Oswal Nifty 100 ETF costs less: 0.68% a year against 1.52%.
- Motilal Oswal Nifty 100 ETF fell less in its worst fall since 16-10-2025: −15.0% against −15.7%.
- Motilal Oswal Nifty 100 ETF holds more in large companies: 98.0% of the fund in large caps against 73.0%.
- Groww ELSS Tax Saver is the larger fund: ₹48 Cr against ₹16 Cr.
- Their portfolios overlap 68.7%: 59 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 | Groww ELSS Tax Saver Fund | Motilal Oswal Nifty 100 ETF |
|---|---|---|
| Fund house | Groww Mutual Fund | Motilal Oswal Mutual Fund |
| Category | ELSS | ETF |
| AUM | ₹48 Cr (30-09-2026) | ₹16 Cr (30-09-2026) |
| NAV | ₹20.99 (Direct) | ₹24.13 |
| Expense ratio (Direct) | 1.52% | Not available |
| Expense ratio (Regular) | 2.92% | Not available |
| Riskometer | Very High | Very High |
| Benchmark | BSE 500 TRI | Nifty 100 TRI |
| Launch date | 28-12-2017 | 16-10-2025 |
| Minimum investment | ₹500 | 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 | 3 years | None |
| Fund managers | Paras Matalia, Nikhil Satam | Swapnil Mayekar, Dishant Mehta, Rakesh Shetty |
| Exit load | Nil | Nil |
Groww ELSS Tax Saver vs Motilal Oswal Nifty 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 |
|---|---|---|---|---|---|---|---|
| Groww ELSS Tax Saver Fund (Direct) | +0.77% | −4.29% | −1.55% | −9.41% | +9.02% | +7.69% | -- |
| Motilal Oswal Nifty 100 ETF | +1.00% | −5.44% | −3.26% | −9.06% | -- | -- | -- |
| ELSS average | −2.34% | −5.61% | −1.63% | −5.75% | +10.92% | +10.29% | -- |
Category average: the average of the 50 ELSS funds, same plan type.
Groww ELSS Tax Saver vs Motilal Oswal Nifty 100 ETF: Year-wise Returns
| Year | Groww ELSS Tax SaverGroww ELSS Tax Saver | Motilal Oswal Nifty 100 ETFMotilal Oswal Nifty 100 ETF |
|---|---|---|
| 2026to date | −8.58% | −9.75% |
| 2025 | +0.70% | -- |
| 2024 | +20.19% | -- |
| 2023 | +27.49% | -- |
| 2022 | +4.57% | -- |
| 2021 | +23.63% | -- |
Groww ELSS Tax Saver vs Motilal Oswal Nifty 100 ETF: Rolling Returns
Every holding period of both funds, against BSE 500 TRI, the benchmark of Groww ELSS Tax Saver Fund
Groww ELSS Tax Saver vs Motilal Oswal Nifty 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 01-10-2025 to 30-10-2026: 13 instalments, ₹1,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Groww ELSS Tax SaverGroww ELSS Tax Saver Fund (Direct) | ₹1,30,000 | ₹1,24,851 | −₹5,149 | −6.8% |
| Motilal Oswal Nifty 100 ETFMotilal Oswal Nifty 100 ETF | ₹1,30,000 | ₹1,23,641 | −₹6,359 | −8.4% |
Groww ELSS Tax SaverGroww ELSS Tax Saver Fund (Direct)
Motilal Oswal Nifty 100 ETFMotilal Oswal Nifty 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.
Groww ELSS Tax Saver vs Motilal Oswal Nifty 100 ETF: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Groww ELSS Tax Saver Fund (Direct) | Motilal Oswal Nifty 100 ETF |
|---|---|---|
| Return (CAGR) | −9.41% | −9.06% |
| Standard deviation | 14.31% | 14.04% |
| Sharpe ratio | -1.02 | -1.02 |
| Sortino ratio | -1.37 | -1.35 |
| Maximum drawdown | −15.3% (30-03-2026) | −15.0% (31-03-2026) |
| Beta | 0.99 | 1.00 |
| Alpha | −1.89% | −0.38% |
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 | Groww ELSS Tax Saver Fund (Direct) | Motilal Oswal Nifty 100 ETF |
|---|---|---|
| Return (CAGR) | +8.71% | −7.74% |
| Standard deviation | 15.45% | 13.84% |
| Sharpe ratio | 0.22 | -0.94 |
| Sortino ratio | 0.29 | -1.25 |
| Maximum drawdown | −34.6% (23-03-2020) | −15.0% (31-03-2026) |
| Beta | 0.90 | 1.00 |
| Alpha | −1.85% | −0.41% |
From daily NAVs, 29-12-2017 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.
Groww ELSS Tax Saver Fund (Direct)
Motilal Oswal Nifty 100 ETF
BSE 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Groww ELSS Tax Saver Fund (Direct) | −15.7% | 29-10-2025 | 30-03-2026 | Not yet | -- | −9.8% |
| Motilal Oswal Nifty 100 ETF | −15.0% | 02-01-2026 | 31-03-2026 | Not yet | -- | −10.5% |
| BSE 500 TRI | −14.8% | 02-01-2026 | 30-03-2026 | Not yet | -- | −8.7% |
From daily values since 16-10-2025, 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.
Groww ELSS Tax Saver Fund (Direct)
Motilal Oswal Nifty 100 ETF
BSE 500 TRI
Against BSE 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Groww ELSS Tax Saver Fund (Direct) | 86% | 98% | 2.80% |
| Motilal Oswal Nifty 100 ETF | 91% | 101% | 3.02% |
From month-end values since 16-10-2025. 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.
Groww ELSS Tax Saver vs Motilal Oswal Nifty 100 ETF: Portfolio Overlap
From each fund's latest monthly portfolio: Groww ELSS Tax Saver Fund, September 2026; Motilal Oswal Nifty 100 ETF, September 2026
Holdings in common
- Overlap
- 68.7%
- Held by both
- 59
- Only in Groww ELSS Tax Saver
- 40
- Only in Motilal Oswal Nifty 100 ETF
- 41
| Security | % of Groww ELSS Tax Saver | % of Motilal Oswal Nifty 100 ETF |
|---|---|---|
| HDFC Bank Limited | 6.77% | 8.41% |
| ICICI Bank Limited | 5.98% | 7.34% |
| Reliance Industries Limited | 4.92% | 6.15% |
| Bharti Airtel Limited | 3.52% | 4.14% |
| Larsen & Toubro Limited | 2.72% | 3.41% |
| State Bank of India | 2.29% | 3.07% |
| Infosys Limited | 2.08% | 2.72% |
| Kotak Mahindra Bank Limited | 1.98% | 2.38% |
| Axis Bank Limited | 1.86% | 2.73% |
| Bajaj Finance Limited | 1.78% | 2.03% |
| Mahindra & Mahindra Limited | 1.75% | 2.04% |
| Titan Company Limited | 1.57% | 1.47% |
| Eternal Limited | 1.41% | 1.80% |
| ITC Limited | 1.36% | 1.96% |
| Sun Pharmaceutical Industries Limited | 1.30% | 1.49% |
| Tata Consultancy Services Limited | 1.28% | 1.62% |
| Adani Port & Special Economic Zone Ltd | 1.22% | 1.09% |
| Shriram Finance Limited | 1.23% | 1.07% |
| UltraTech Cement Limited | 1.06% | 1.01% |
| BSE Ltd | 1.24% | 0.98% |
| Hindustan Unilever Limited | 0.93% | 1.29% |
| Bajaj Auto Limited | 1.23% | 0.92% |
| Tata Steel Limited | 0.91% | 1.18% |
| NTPC Limited | 0.88% | 1.19% |
| Divi's Laboratories Limited | 0.87% | 0.92% |
| InterGlobe Aviation Limited | 1.03% | 0.87% |
| Grasim Industries Limited | 0.86% | 0.90% |
| Maruti Suzuki India Limited | 0.76% | 1.21% |
| TVS Motor Company Limited | 1.03% | 0.75% |
| Asian Paints Limited | 0.68% | 0.84% |
| Tata Motors Limited | 0.68% | 0.68% |
| Hindalco Industries Limited | 0.68% | 1.06% |
| Eicher Motors Limited | 0.67% | 0.77% |
| Nestle India Limited | 0.67% | 0.73% |
| Adani Power Limited | 0.69% | 0.66% |
| Trent Limited | 0.66% | 0.68% |
| Bharat Electronics Limited | 0.63% | 1.08% |
| JSW Steel Limited | 0.62% | 0.93% |
| HCL Technologies Limited | 0.55% | 1.00% |
| Torrent Pharmaceuticals Limited | 0.58% | 0.55% |
| Cholamandalam Invest & Finance Co Ltd | 0.53% | 0.54% |
| Coal India Limited | 0.51% | 0.79% |
| Power Grid Corporation of India Limited | 0.50% | 0.91% |
| Adani Enterprises Limited | 0.49% | 0.76% |
| Tata Consumer Products Limited | 0.88% | 0.48% |
| Jio Financial Services Limited | 0.48% | 0.55% |
| Bajaj Finserv Limited | 0.43% | 0.78% |
| Hindustan Aeronautics Limited | 0.40% | 0.69% |
| Apollo Hospitals Enterprise Limited | 0.37% | 0.66% |
| Solar Industries India Limited | 0.69% | 0.37% |
| Tech Mahindra Limited | 0.37% | 0.75% |
| Britannia Industries Limited | 0.37% | 0.44% |
| Vedanta Limited | 0.80% | 0.35% |
| Pidilite Industries Limited | 0.46% | 0.35% |
| Adani Green Energy Limited | 0.46% | 0.33% |
| Adani Energy Solutions Limited | 0.44% | 0.33% |
| Hitachi Energy India Limited | 0.48% | 0.30% |
| Hindustan Zinc Limited | 0.46% | 0.21% |
| Tata Capital Ltd | 0.51% | 0.14% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 68.7% means 68.7% 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 Groww ELSS Tax Saver Fund
| Security | % of fund |
|---|---|
| Laurus Labs Limited | 1.63% |
| Multi Commodity Exchange of India Ltd. | 1.24% |
| One 97 Communications Limited | 1.17% |
| FSN E-Commerce Ventures Limited | 1.05% |
| Bharat Forge Limited | 0.96% |
Largest holdings only in Motilal Oswal Nifty 100 ETF
| Security | % of fund |
|---|---|
| Oil & Natural Gas Corporation Limited | 0.68% |
| Cipla Limited | 0.59% |
| SBI Life Insurance Company Limited | 0.59% |
| Dr Reddys Laboratories Limited | 0.58% |
| Samvardhana Motherson International Limited | 0.56% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Groww ELSS Tax Saver | Motilal Oswal Nifty 100 ETF |
|---|---|---|
| Equity | 98.6% | 100.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 1.4% | -0.0% |
Market cap of stocks
| Market cap | Groww ELSS Tax Saver | Motilal Oswal Nifty 100 ETF |
|---|---|---|
| Large Cap | 73.0% | 98.0% |
| Mid Cap | 18.6% | 2.0% |
| Small Cap | 7.0% | 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 | Groww ELSS Tax Saver | Motilal Oswal Nifty 100 ETF |
|---|---|---|
| Banks | 21.2% | 25.1% |
| Pharmaceuticals & Biotechnology | 7.1% | 4.3% |
| Petroleum Products | 4.9% | 7.0% |
| IT - Software | 6.1% | 6.7% |
| Automobiles | 6.1% | 6.4% |
| Finance | 5.0% | 6.2% |
| Telecom - Services | 4.0% | 4.4% |
The six largest sectors of each fund's stocks, % of the fund.
Groww ELSS Tax Saver vs Motilal Oswal Nifty 100 ETF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Groww ELSS Tax Saver Fund | Motilal Oswal Nifty 100 ETF |
|---|---|---|
| Total expense ratio (Direct) | 1.52% | Not available |
| Base expense ratio (Direct) | 0.83% | 0.00% |
| Total expense ratio (Regular) | 2.92% | Not available |
| Base expense ratio (Regular) | 2.08% | 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
Groww ELSS Tax Saver Fund vs Motilal Oswal Nifty 100 ETF: Frequently Asked Questions
What is the difference between Groww ELSS Tax Saver Fund and Motilal Oswal Nifty 100 ETF?
Groww ELSS Tax Saver Fund is an ELSS fund, Motilal Oswal Nifty 100 ETF is an ETF fund, run by Groww Mutual Fund and Motilal Oswal Mutual Fund. Their portfolios overlap 68.7%. Groww ELSS Tax Saver Fund charges 1.52% a year and Motilal Oswal Nifty 100 ETF 0.68%.
Which has given higher returns, Groww ELSS Tax Saver Fund or Motilal Oswal Nifty 100 ETF?
Over 1 year: Groww ELSS Tax Saver Fund −9.41%, Motilal Oswal Nifty 100 ETF −9.06%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Groww ELSS Tax Saver Fund or Motilal Oswal Nifty 100 ETF?
Motilal Oswal Nifty 100 ETF charges less: 0.68% a year against 1.52%. These are the total expense ratios reported to AMFI.
How much do Groww ELSS Tax Saver Fund and Motilal Oswal Nifty 100 ETF overlap?
68.7%. They hold 59 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, RELIANCE. From each fund's latest monthly portfolio.
Which is riskier, Groww ELSS Tax Saver Fund or Motilal Oswal Nifty 100 ETF?
On SEBI's riskometer, Groww ELSS Tax Saver Fund is rated Very High and Motilal Oswal Nifty 100 ETF Very High. Over 1 years, the standard deviation of daily returns was 14.31% and 14.04% a year.
Can I invest in both Groww ELSS Tax Saver Fund and Motilal Oswal Nifty 100 ETF?
Yes. 68.7% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Groww ELSS Tax Saver Fund and Motilal Oswal Nifty 100 ETF?
Groww ELSS Tax Saver Fund: Paras Matalia, Nikhil Satam. Motilal Oswal Nifty 100 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.