HDFC NIFTY 100 ETF vs Mirae Asset Flexi Cap Fund
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
HDFC NIFTY 100 ETF is an ETF fund and Mirae Asset Flexi Cap Fund is a Flexi Cap fund. In the 3 years to 30-10-2026, HDFC NIFTY 100 ETF returned 8.7% a year and Mirae Asset Flexi Cap Fund (Direct) returned 12.3% a year. HDFC NIFTY 100 ETF charges 0.31% a year and Mirae Asset Flexi Cap Fund 0.74%. Their portfolios overlap 48.4%: they hold 41 of the same securities.
Mirae Asset Flexi Cap Fund
Flexi Cap
- 3 year return
- 12.3%
- Expense ratio
- 0.74%
- NAV
- ₹16.38
Which is better, HDFC NIFTY 100 ETF or Mirae Asset Flexi Cap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Mirae Asset Flexi Cap returned more over 3 years: 12.3% a year against 8.7%.
- Mirae Asset Flexi Cap returned more over 1 year: −3.2% against −9.0%.
- HDFC NIFTY 100 ETF costs less: 0.31% a year against 0.74%.
- HDFC NIFTY 100 ETF swung less over 3 years: a standard deviation of 13.7% a year against 14.0%.
- Mirae Asset Flexi Cap fell less in its worst fall since 27-02-2023: −16.1% against −17.3%.
- HDFC NIFTY 100 ETF holds more in large companies: 98.0% of the fund in large caps against 61.0%.
- Mirae Asset Flexi Cap is the larger fund: ₹4,369 Cr against ₹41 Cr.
- Their portfolios overlap 48.4%: 41 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 | HDFC NIFTY 100 ETF | Mirae Asset Flexi Cap Fund |
|---|---|---|
| Fund house | HDFC Mutual Fund | Mirae Asset Mutual Fund |
| Category | ETF | Flexi Cap |
| AUM | ₹41 Cr (30-09-2026) | ₹4,369 Cr (30-09-2026) |
| NAV | ₹24.81 | ₹16.38 (Direct) |
| Expense ratio (Direct) | Not available | 0.74% |
| Expense ratio (Regular) | Not available | 2.11% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 100 TRI | Nifty 500 TRI |
| Launch date | 05-08-2022 | 24-02-2023 |
| Minimum investment | On an On-going Basis: A. On the Stock Exchange: All categories of investors may purchase the Units of the Scheme through the Stock Exchange(s) on which the units of the Scheme are listed, on any trading day in round lot of one (1) Unit and multiples there | ₹5,000 |
| Lock in | None | None |
| Fund managers | Abhishek Mor, Arun Agarwal | Varun Goel |
| Exit load | Not available | Exit Load for units in excess of 15% of the investment,1% will be charged for redemption within 1 year. |
HDFC NIFTY 100 ETF vs Mirae Asset Flexi Cap: 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 |
|---|---|---|---|---|---|---|---|
| HDFC NIFTY 100 ETF | +1.02% | −5.38% | −3.12% | −8.99% | +8.73% | -- | -- |
| Mirae Asset Flexi Cap Fund (Direct) | −0.84% | −3.12% | −0.09% | −3.21% | +12.30% | -- | -- |
| Flexi Cap average | −1.62% | −4.17% | +1.00% | −3.58% | +12.37% | -- | -- |
Category average: the average of the 46 Flexi Cap funds, same plan type.
HDFC NIFTY 100 ETF vs Mirae Asset Flexi Cap: Year-wise Returns
| Year | HDFC NIFTY 100 ETFHDFC NIFTY 100 ETF | Mirae Asset Flexi CapMirae Asset Flexi Cap |
|---|---|---|
| 2026to date | −9.57% | −4.81% |
| 2025 | +9.91% | +10.44% |
| 2024 | +12.55% | +19.05% |
| 2023 | +20.87% | -- |
HDFC NIFTY 100 ETF vs Mirae Asset Flexi Cap: Rolling Returns
Every holding period of both funds, against Nifty 100 TRI, the benchmark of HDFC NIFTY 100 ETF
Rolling returns
Every 3-year holding period, 164 of them, one for each trading day from 27-02-2026 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.
HDFC NIFTY 100 ETF
Mirae Asset Flexi Cap Fund (Direct)
Nifty 100 TRI
to
Mar 2026Apr 2023
to
Apr 2026Jun 2023
to
Jun 2026Jul 2023
to
Jul 2026Sept 2023
to
Sept 2026Oct 2023
to
Oct 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HDFC NIFTY 100 ETF | 0.0 | 0.0 | 34.1 | 64.6 | 1.2 | 0.0 | 0.0 | 10.7% | 10.6% | 6.7% | 15.6% | 0% |
| Mirae Asset Flexi Cap | 0.0 | 0.0 | 0.0 | 59.1 | 40.9 | 0.0 | 0.0 | 14.5% | 14.4% | 10.9% | 18.8% | 100% |
| Nifty 100 TRI | 0.0 | 0.0 | 25.6 | 73.2 | 1.2 | 0.0 | 0.0 | 11.0% | 11.0% | 7.1% | 16.0% | -- |
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 100 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 27-02-2023. Past returns do not promise future returns.
HDFC NIFTY 100 ETF vs Mirae Asset Flexi Cap: 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 01-02-2023 to 30-10-2026: 45 instalments, ₹4,50,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HDFC NIFTY 100 ETFHDFC NIFTY 100 ETF | ₹4,50,000 | ₹4,79,207 | ₹29,207 | 3.3% |
| Mirae Asset Flexi CapMirae Asset Flexi Cap Fund (Direct) | ₹4,50,000 | ₹5,22,213 | ₹72,213 | 7.9% |
HDFC NIFTY 100 ETFHDFC NIFTY 100 ETF
Mirae Asset Flexi CapMirae Asset Flexi Cap Fund (Direct)
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.
HDFC NIFTY 100 ETF vs Mirae Asset Flexi Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HDFC NIFTY 100 ETF | Mirae Asset Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −8.99% | −3.21% |
| Standard deviation | 14.04% | 13.91% |
| Sharpe ratio | -1.01 | -0.61 |
| Sortino ratio | -1.35 | -0.82 |
| Maximum drawdown | −15.0% (31-03-2026) | −13.7% (30-03-2026) |
| Beta | 1.00 | 0.95 |
| Alpha | −0.30% | +3.55% |
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 | HDFC NIFTY 100 ETF | Mirae Asset Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.73% | +12.30% |
| Standard deviation | 13.69% | 14.03% |
| Sharpe ratio | 0.20 | 0.45 |
| Sortino ratio | 0.27 | 0.61 |
| Maximum drawdown | −17.3% (28-02-2025) | −16.1% (07-04-2025) |
| Beta | 1.00 | 0.97 |
| Alpha | −0.35% | +2.23% |
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 | HDFC NIFTY 100 ETF | Mirae Asset Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.29% | +14.39% |
| Standard deviation | 12.92% | 13.21% |
| Sharpe ratio | 0.17 | 0.62 |
| Sortino ratio | 0.23 | 0.85 |
| Maximum drawdown | −17.3% (28-02-2025) | −16.1% (07-04-2025) |
| Beta | 1.00 | 0.96 |
| Alpha | −0.33% | +1.76% |
From daily NAVs, 05-08-2022 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.
HDFC NIFTY 100 ETF
Mirae Asset Flexi Cap Fund (Direct)
Nifty 100 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HDFC NIFTY 100 ETF | −17.3% | 26-09-2024 | 28-02-2025 | Not yet | -- | −10.6% |
| Mirae Asset Flexi Cap Fund (Direct) | −16.1% | 26-09-2024 | 07-04-2025 | 27-06-2025 | 3 months | −5.5% |
| Nifty 100 TRI | −17.2% | 26-09-2024 | 28-02-2025 | 02-01-2026 | 10 months | −10.1% |
From daily values since 27-02-2023, 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.
HDFC NIFTY 100 ETF
Mirae Asset Flexi Cap Fund (Direct)
Nifty 100 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.
HDFC NIFTY 100 ETF
Mirae Asset Flexi Cap Fund (Direct)
Nifty 100 TRI
Against Nifty 100 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| HDFC NIFTY 100 ETF | 99% | 101% | 0.03% |
| Mirae Asset Flexi Cap Fund (Direct) | 104% | 83% | 3.94% |
From month-end values since 27-02-2023. 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.
HDFC NIFTY 100 ETF vs Mirae Asset Flexi Cap: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC NIFTY 100 ETF, September 2026; Mirae Asset Flexi Cap Fund, September 2026
Holdings in common
- Overlap
- 48.4%
- Held by both
- 41
- Only in HDFC NIFTY 100 ETF
- 59
- Only in Mirae Asset Flexi Cap
- 46
| Security | % of HDFC NIFTY 100 ETF | % of Mirae Asset Flexi Cap |
|---|---|---|
| ICICI Bank Ltd. | 7.34% | 5.38% |
| HDFC Bank Ltd. | 8.41% | 5.37% |
| Reliance Industries Ltd. | 6.15% | 3.79% |
| State Bank of India | 3.07% | 2.44% |
| Axis Bank Ltd. | 2.73% | 2.29% |
| Bharti Airtel Ltd. | 4.14% | 2.09% |
| Larsen and Toubro Ltd. | 3.41% | 1.95% |
| Mahindra & Mahindra Ltd. | 2.04% | 1.81% |
| Tata Consultancy Services Ltd. | 1.62% | 1.45% |
| Infosys Limited | 2.72% | 1.42% |
| Eternal Limited | 1.80% | 1.15% |
| Bajaj Finance Ltd. | 2.03% | 1.10% |
| Adani Ports & Special Economic Zone | 1.09% | 1.46% |
| UltraTech Cement Limited | 1.01% | 1.13% |
| Bombay Stock Exchange Limited (BSE) | 0.98% | 1.24% |
| Titan Company Ltd. | 1.47% | 0.92% |
| Divis Laboratories Ltd. | 0.92% | 1.04% |
| Shriram Finance Ltd. | 1.07% | 0.89% |
| ITC LIMITED | 1.96% | 0.86% |
| Maruti Suzuki India Limited | 1.21% | 0.82% |
| Bharat Electronics Ltd. | 1.08% | 0.80% |
| Tech Mahindra Ltd. | 0.75% | 1.20% |
| TVS Motor Company Ltd. | 0.75% | 1.28% |
| Kotak Mahindra Bank Limited | 2.38% | 0.72% |
| Hindustan Aeronautics Limited | 0.69% | 0.89% |
| Trent Ltd. | 0.68% | 0.98% |
| Oil & Natural Gas Corporation Ltd. | 0.68% | 0.60% |
| Sun Pharmaceutical Industries Ltd. | 1.49% | 0.59% |
| SBI Life Insurance Company Ltd. | 0.59% | 1.38% |
| Vedanta Aluminium Metal Limited | 0.54% | 0.82% |
| Cummins India Ltd. | 0.50% | 1.01% |
| Tata Consumer Products Limited | 0.48% | 0.61% |
| Bharat Petroleum Corporation Ltd. | 0.47% | 0.71% |
| CG Power and Industrial Solutions Ltd. | 0.45% | 1.49% |
| InterGlobe Aviation Ltd. | 0.87% | 0.44% |
| Britannia Industries Ltd. | 0.44% | 0.94% |
| Vedanta Ltd. | 0.35% | 0.78% |
| Jindal Steel Limited. | 0.33% | 1.04% |
| DLF LIMITED | 0.33% | 0.85% |
| Pidilite Industries Ltd. | 0.35% | 0.16% |
| Solar Industries India Ltd. | 0.37% | 0.02% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 48.4% means 48.4% 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 HDFC NIFTY 100 ETF
| Security | % of fund |
|---|---|
| Hindustan Unilever Ltd. | 1.29% |
| NTPC Limited | 1.19% |
| Tata Steel Ltd. | 1.18% |
| Hindalco Industries Ltd. | 1.06% |
| HCL Technologies Ltd. | 1.00% |
Largest holdings only in Mirae Asset Flexi Cap Fund
| Security | % of fund |
|---|---|
| Lenskart Solutions Ltd. | 1.72% |
| Multi Commodity Exchange of India Ltd. | 1.68% |
| The Phoenix Mills Ltd. | 1.62% |
| Indus Towers Ltd. | 1.61% |
| Engineers India Ltd. | 1.51% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC NIFTY 100 ETF | Mirae Asset Flexi Cap |
|---|---|---|
| Equity | 100.0% | 99.7% |
| Debt | 0.0% | 0.0% |
| Cash and others | 0.0% | 0.3% |
Market cap of stocks
| Market cap | HDFC NIFTY 100 ETF | Mirae Asset Flexi Cap |
|---|---|---|
| Large Cap | 98.0% | 61.0% |
| Mid Cap | 2.0% | 19.2% |
| Small Cap | 0.0% | 14.5% |
| Not on AMFI's list | 0.0% | 5.0% |
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 | HDFC NIFTY 100 ETF | Mirae Asset Flexi Cap |
|---|---|---|
| Banks | 25.1% | 16.2% |
| Capital Markets | 1.3% | 7.4% |
| Pharmaceuticals & Biotechnology | 4.3% | 7.0% |
| Petroleum Products | 7.0% | 4.5% |
| IT - Software | 6.7% | 4.1% |
| Automobiles | 6.4% | 3.9% |
| Finance | 6.2% | 5.3% |
| Telecom - Services | 4.4% | 3.7% |
| Consumer Durables | 2.3% | 4.3% |
The six largest sectors of each fund's stocks, % of the fund.
HDFC NIFTY 100 ETF vs Mirae Asset Flexi Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC NIFTY 100 ETF | Mirae Asset Flexi Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | Not available | 0.74% |
| Base expense ratio (Direct) | 0.00% | 0.46% |
| Total expense ratio (Regular) | Not available | 2.11% |
| Base expense ratio (Regular) | 0.25% | 1.62% |
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
HDFC NIFTY 100 ETF vs Mirae Asset Flexi Cap Fund: Frequently Asked Questions
What is the difference between HDFC NIFTY 100 ETF and Mirae Asset Flexi Cap Fund?
HDFC NIFTY 100 ETF is an ETF fund, Mirae Asset Flexi Cap Fund is a Flexi Cap fund, run by HDFC Mutual Fund and Mirae Asset Mutual Fund. Their portfolios overlap 48.4%. HDFC NIFTY 100 ETF charges 0.31% a year and Mirae Asset Flexi Cap Fund 0.74%.
Which has given higher returns, HDFC NIFTY 100 ETF or Mirae Asset Flexi Cap Fund?
Over 1 year: HDFC NIFTY 100 ETF −8.99%, Mirae Asset Flexi Cap Fund −3.21%. Over 3 years: HDFC NIFTY 100 ETF +8.73% a year, Mirae Asset Flexi Cap Fund +12.30% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HDFC NIFTY 100 ETF or Mirae Asset Flexi Cap Fund?
HDFC NIFTY 100 ETF charges less: 0.31% a year against 0.74%. These are the total expense ratios reported to AMFI.
How much do HDFC NIFTY 100 ETF and Mirae Asset Flexi Cap Fund overlap?
48.4%. They hold 41 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, RELIANCE. From each fund's latest monthly portfolio.
Which is riskier, HDFC NIFTY 100 ETF or Mirae Asset Flexi Cap Fund?
On SEBI's riskometer, HDFC NIFTY 100 ETF is rated Very High and Mirae Asset Flexi Cap Fund Very High. Over 3 years, the standard deviation of daily returns was 13.69% and 14.03% a year.
Which is better for SIP, HDFC NIFTY 100 ETF or Mirae Asset Flexi Cap Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹3,71,409 in HDFC NIFTY 100 ETF (XIRR 0.2% a year) and ₹3,99,781 in Mirae Asset Flexi Cap Fund (XIRR 5.0% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both HDFC NIFTY 100 ETF and Mirae Asset Flexi Cap Fund?
Yes. 48.4% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages HDFC NIFTY 100 ETF and Mirae Asset Flexi Cap Fund?
HDFC NIFTY 100 ETF: Abhishek Mor, Arun Agarwal. Mirae Asset Flexi Cap Fund: Varun Goel.
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.