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    HDFC NIFTY Midcap 150 ETF vs Motilal Oswal Nifty Midcap 150 Index Fund

    Direct Plan where a fund has one, Growth option · Data as on 30-10-2026

    HDFC NIFTY Midcap 150 ETF is an ETF fund and Motilal Oswal Nifty Midcap 150 Index Fund is an Index fund. In the 3 years to 30-10-2026, HDFC NIFTY Midcap 150 ETF returned 13.6% a year and Motilal Oswal Nifty Midcap 150 Index Fund (Direct) returned 13.6% a year. HDFC NIFTY Midcap 150 ETF charges 0.25% a year and Motilal Oswal Nifty Midcap 150 Index Fund 0.39%. Their portfolios overlap 99.0%: they hold 149 of the same securities.

    HDFC NIFTY Midcap 150 ETF

    ETF

    3 year return
    13.6%
    Expense ratio
    0.25%
    NAV
    ₹21.33
    See HDFC NIFTY Midcap 150 ETF

    Motilal Oswal Nifty Midcap 150 Index Fund

    Index

    3 year return
    13.6%
    Expense ratio
    0.39%
    NAV
    ₹38.23
    See Motilal Oswal Nifty Midcap 150 Index Fund

    Which is better, HDFC NIFTY Midcap 150 ETF or Motilal Oswal Nifty Midcap 150 Index? 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 Midcap 150 Index returned more over 3 years: 13.6% a year against 13.6%.
    • Motilal Oswal Nifty Midcap 150 Index returned more over 1 year: −4.5% against −4.6%.
    • HDFC NIFTY Midcap 150 ETF costs less: 0.25% a year against 0.39%.
    • Motilal Oswal Nifty Midcap 150 Index swung less over 3 years: a standard deviation of 17.0% a year against 17.1%.
    • HDFC NIFTY Midcap 150 ETF fell less in its worst fall since 15-02-2023: −21.0% against −21.0%.
    • Motilal Oswal Nifty Midcap 150 Index is the larger fund: ₹3,995 Cr against ₹157 Cr.
    • Their portfolios overlap 99.0%: 149 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

    FactHDFC NIFTY Midcap 150 ETFMotilal Oswal Nifty Midcap 150 Index Fund
    Fund houseHDFC Mutual FundMotilal Oswal Mutual Fund
    CategoryETFIndex
    AUM₹157 Cr (30-09-2026)₹3,995 Cr (30-09-2026)
    NAV₹21.33₹38.23 (Direct)
    Expense ratio (Direct)Not available0.39%
    Expense ratio (Regular)Not available1.13%
    RiskometerVery HighVery High
    BenchmarkNifty Midcap 150 TRINifty Midcap 150 TRI
    Launch date15-02-202306-09-2019
    Minimum investmentOn an On-going Basis: A. On the Stock Exchange: Investors (including Market Makers and Large Investors) can subscribe (buy) Units on a continuous basis on the Stock Exchanges, in minimum lot of 1 (one) unit and in multiples thereof. B. Directly with the F₹500
    Lock inNoneNone
    Fund managersAbhishek Mor, Nandita Menezes, Arun AgarwalSwapnil Mayekar
    Exit loadNot availableExit load of 1%, if redeemed within 15 days.

    HDFC NIFTY Midcap 150 ETF vs Motilal Oswal Nifty Midcap 150 Index: Returns Comparison

    Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.

    Fund1M3M6M1Y3Y5Y10Y
    HDFC NIFTY Midcap 150 ETF−3.70%−8.53%−4.07%−4.59%+13.56%----
    Motilal Oswal Nifty Midcap 150 Index Fund (Direct)−3.69%−8.51%−4.04%−4.52%+13.61%+13.59%--

    HDFC NIFTY Midcap 150 ETF vs Motilal Oswal Nifty Midcap 150 Index: Year-wise Returns

    YearHDFC NIFTY Midcap 150 ETFHDFC NIFTY Midcap 150 ETFMotilal Oswal Nifty Midcap 150 IndexMotilal Oswal Nifty Midcap 150 IndexNifty Midcap 150 TRI
    2026to date−5.16%−5.11%−4.97%
    2025+5.77%+5.81%+5.98%
    2024+24.17%+24.19%+24.46%
    2023--+44.31%+44.61%
    2022--+3.61%+3.91%
    2021--+46.89%+48.16%

    HDFC NIFTY Midcap 150 ETF vs Motilal Oswal Nifty Midcap 150 Index: Rolling Returns

    Every holding period of both funds, against Nifty Midcap 150 TRI, the benchmark of both

    Rolling returns

    Every 3-year holding period, 173 of them, one for each trading day from 16-02-2026 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.

    0%5%10%15%20%25%30%
    Mar 2023
    to
    Mar 2026    Apr 2023
    to
    Apr 2026    Jun 2023
    to
    Jun 2026    Jul 2023
    to
    Jul 2026    Aug 2023
    to
    Aug 2026    Oct 2023
    to
    Oct 2026
    HDFC NIFTY Midcap 150 ETFMotilal Oswal Nifty Midcap 150 Index Fund (Direct)Nifty Midcap 150 TRI

    How the periods spread

    FundBelow 0%0-5%5-10%10-15%15-20%20-25%Above 25%MeanMedianLowestHighestBeat benchmark
    HDFC NIFTY Midcap 150 ETF0.00.00.016.831.251.40.619.6%20.1%12.4%25.1%0%
    Motilal Oswal Nifty Midcap 150 Index0.00.00.016.831.251.40.619.6%20.1%12.5%25.1%0%
    Nifty Midcap 150 TRI0.00.00.015.629.553.21.719.9%20.3%12.7%25.4%--

    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 150 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 15-02-2023. Past returns do not promise future returns.

    HDFC NIFTY Midcap 150 ETF vs Motilal Oswal Nifty Midcap 150 Index: 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

    Step up each year
    PeriodFor

    ₹10,000 on the first trading day of every month, from 15-02-2023 to 30-10-2026: 45 instalments, ₹4,50,000 in all.

    InvestmentInvestedValue nowGainReturn a year
    HDFC NIFTY Midcap 150 ETFHDFC NIFTY Midcap 150 ETF ₹4,50,000 ₹5,25,571 ₹75,571 8.3%
    Motilal Oswal Nifty Midcap 150 IndexMotilal Oswal Nifty Midcap 150 Index Fund (Direct) ₹4,50,000 ₹5,26,163 ₹76,163 8.3%
    ₹0₹2.0 L₹4.0 L₹6.0 L
    202420252026
    HDFC NIFTY Midcap 150 ETFHDFC NIFTY Midcap 150 ETFMotilal Oswal Nifty Midcap 150 IndexMotilal Oswal Nifty Midcap 150 Index 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 Midcap 150 ETF vs Motilal Oswal Nifty Midcap 150 Index: Risk and Drawdowns

    How much each fund swings, and the worst fall over the same days

    Risk and return

    MeasureHDFC NIFTY Midcap 150 ETFMotilal Oswal Nifty Midcap 150 Index Fund (Direct)
    Return (CAGR)+13.56%+13.61%
    Standard deviation17.09%17.04%
    Sharpe ratio0.440.45
    Sortino ratio0.590.59
    Maximum drawdown−21.0% (28-02-2025)−21.0% (28-02-2025)
    Beta1.001.00
    Alpha−0.25%−0.20%

    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.

    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.

    −25%−20%−15%−10%−5%0%
    202420252026
    HDFC NIFTY Midcap 150 ETFMotilal Oswal Nifty Midcap 150 Index Fund (Direct)Nifty Midcap 150 TRI
    FundWorst fallHigh before itBottomBack at the highTime to climb backBelow its high today
    HDFC NIFTY Midcap 150 ETF−21.0%24-09-202428-02-202517-11-20259 months−10.5%
    Motilal Oswal Nifty Midcap 150 Index Fund (Direct)−21.0%24-09-202428-02-202517-11-20259 months−10.5%
    Nifty Midcap 150 TRI−20.9%24-09-202428-02-202512-11-20258 months−10.5%

    From daily values since 15-02-2023, 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 3-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.

    0%5%10%15%20%
    HDFC NIFTY Midcap 150 ETFMotilal Oswal Nifty Midcap 150 Index Fund (Direct)Nifty Midcap 150 TRI

    Against Nifty Midcap 150 TRI

    FundUp captureDown captureTracking error
    HDFC NIFTY Midcap 150 ETF99%100%0.05%
    Motilal Oswal Nifty Midcap 150 Index Fund (Direct)100%100%0.06%

    From month-end values since 15-02-2023. 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 Midcap 150 ETF vs Motilal Oswal Nifty Midcap 150 Index: Portfolio Overlap

    From each fund's latest monthly portfolio: HDFC NIFTY Midcap 150 ETF, September 2026; Motilal Oswal Nifty Midcap 150 Index Fund, September 2026

    Holdings in common

    Overlap
    99.0%
    Held by both
    149
    Only in HDFC NIFTY Midcap 150 ETF
    1
    Only in Motilal Oswal Nifty Midcap 150 Index
    0
    Security% of HDFC NIFTY Midcap 150 ETF% of Motilal Oswal Nifty Midcap 150 Index
    Multi Commodity Exchange of India L2.07%2.08%
    The Federal Bank Ltd.1.93%1.93%
    Laurus Labs Ltd.1.90%1.90%
    One 97 Communications Limited1.78%1.78%
    Hero MotoCorp Ltd.1.68%1.68%
    Indian Hotels Company Ltd.1.58%1.58%
    Coforge Limited1.50%1.50%
    Bharat Heavy Electricals Ltd.1.49%1.49%
    Indusind Bank Ltd.1.46%1.46%
    Au Small Finance Bank Ltd.1.45%1.45%

    Overlap: for each holding both funds own, the smaller of its two weights, added up. 99.0% means 99.0% 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 Midcap 150 ETF

    Security% of fund
    Embassy Office Parks REIT0.94%

    Largest holdings only in Motilal Oswal Nifty Midcap 150 Index Fund

    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

    AssetHDFC NIFTY Midcap 150 ETFMotilal Oswal Nifty Midcap 150 Index
    Equity99.0%99.1%
    Debt0.0%0.0%
    Cash and others1.0%0.9%

    Market cap of stocks

    Market capHDFC NIFTY Midcap 150 ETFMotilal Oswal Nifty Midcap 150 Index
    Large Cap5.7%5.7%
    Mid Cap90.8%90.9%
    Small Cap2.5%2.5%

    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

    SectorHDFC NIFTY Midcap 150 ETFMotilal Oswal Nifty Midcap 150 Index
    Pharmaceuticals & Biotechnology9.2%9.2%
    Banks8.7%8.7%
    Finance6.8%6.8%
    Electrical Equipment5.9%5.9%
    Retailing5.6%5.6%
    Capital Markets4.7%4.7%

    The six largest sectors of each fund's stocks, % of the fund.

    HDFC NIFTY Midcap 150 ETF vs Motilal Oswal Nifty Midcap 150 Index: Expense Ratio

    What each plan charges a year, from AMFI's expense ratio file

    ChargeHDFC NIFTY Midcap 150 ETFMotilal Oswal Nifty Midcap 150 Index Fund
    Total expense ratio (Direct)Not available0.39%
    Base expense ratio (Direct)0.00%0.23%
    Total expense ratio (Regular)Not available1.13%
    Base expense ratio (Regular)0.17%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.

    HDFC NIFTY Midcap 150 ETF vs Motilal Oswal Nifty Midcap 150 Index Fund: Frequently Asked Questions

    What is the difference between HDFC NIFTY Midcap 150 ETF and Motilal Oswal Nifty Midcap 150 Index Fund?

    HDFC NIFTY Midcap 150 ETF is an ETF fund, Motilal Oswal Nifty Midcap 150 Index Fund is an Index fund, run by HDFC Mutual Fund and Motilal Oswal Mutual Fund. Their portfolios overlap 99.0%. HDFC NIFTY Midcap 150 ETF charges 0.25% a year and Motilal Oswal Nifty Midcap 150 Index Fund 0.39%.

    Which has given higher returns, HDFC NIFTY Midcap 150 ETF or Motilal Oswal Nifty Midcap 150 Index Fund?

    Over 1 year: HDFC NIFTY Midcap 150 ETF −4.59%, Motilal Oswal Nifty Midcap 150 Index Fund −4.52%. Over 3 years: HDFC NIFTY Midcap 150 ETF +13.56% a year, Motilal Oswal Nifty Midcap 150 Index Fund +13.61% a year. As on 30-10-2026. Past returns do not promise future returns.

    Which has the lower expense ratio, HDFC NIFTY Midcap 150 ETF or Motilal Oswal Nifty Midcap 150 Index Fund?

    HDFC NIFTY Midcap 150 ETF charges less: 0.25% a year against 0.39%. These are the total expense ratios reported to AMFI.

    How much do HDFC NIFTY Midcap 150 ETF and Motilal Oswal Nifty Midcap 150 Index Fund overlap?

    99.0%. They hold 149 of the same securities, the largest shared ones being MCX, FEDERALBNK, LAURUSLABS. From each fund's latest monthly portfolio.

    Which is riskier, HDFC NIFTY Midcap 150 ETF or Motilal Oswal Nifty Midcap 150 Index Fund?

    On SEBI's riskometer, HDFC NIFTY Midcap 150 ETF is rated Very High and Motilal Oswal Nifty Midcap 150 Index Fund Very High. Over 3 years, the standard deviation of daily returns was 17.09% and 17.04% a year.

    Which is better for SIP, HDFC NIFTY Midcap 150 ETF or Motilal Oswal Nifty Midcap 150 Index Fund?

    Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹3,90,076 in HDFC NIFTY Midcap 150 ETF (XIRR 3.4% a year) and ₹3,90,375 in Motilal Oswal Nifty Midcap 150 Index Fund (XIRR 3.4% a year). Both received 37 instalments. Past returns do not promise future returns.

    Can I invest in both HDFC NIFTY Midcap 150 ETF and Motilal Oswal Nifty Midcap 150 Index Fund?

    Yes. 99.0% 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 Midcap 150 ETF and Motilal Oswal Nifty Midcap 150 Index Fund?

    HDFC NIFTY Midcap 150 ETF: Abhishek Mor, Nandita Menezes, Arun Agarwal. Motilal Oswal Nifty Midcap 150 Index Fund: 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.

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