HDFC NIFTY Midcap 150 ETF vs Navi Nifty Midsmallcap 400 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 Navi Nifty Midsmallcap 400 Index Fund is an Index fund. HDFC NIFTY Midcap 150 ETF charges 0.25% a year and Navi Nifty Midsmallcap 400 Index Fund 0.52%. Their portfolios overlap 63.6%: they hold 149 of the same securities.
Navi Nifty Midsmallcap 400 Index Fund
Index
- Expense ratio
- 0.52%
- NAV
- ₹9.88
Which is better, HDFC NIFTY Midcap 150 ETF or Navi Nifty Midsmallcap 400 Index? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HDFC NIFTY Midcap 150 ETF costs less: 0.25% a year against 0.52%.
- HDFC NIFTY Midcap 150 ETF fell less in its worst fall since 10-12-2025: −14.0% against −14.3%.
- HDFC NIFTY Midcap 150 ETF is the larger fund: ₹157 Cr against ₹12 Cr.
- Their portfolios overlap 63.6%: 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
| Fact | HDFC NIFTY Midcap 150 ETF | Navi Nifty Midsmallcap 400 Index Fund |
|---|---|---|
| Fund house | HDFC Mutual Fund | Navi Mutual Fund |
| Category | ETF | Index |
| AUM | ₹157 Cr (30-09-2026) | ₹12 Cr (30-09-2026) |
| NAV | ₹21.33 | ₹9.88 (Direct) |
| Expense ratio (Direct) | Not available | 0.52% |
| Expense ratio (Regular) | Not available | 1.40% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty Midcap 150 TRI | Nifty MidSmallcap 400 Index |
| Launch date | 15-02-2023 | 09-12-2025 |
| Minimum investment | On 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 | ₹100 |
| Lock in | None | None |
| Fund managers | Abhishek Mor, Nandita Menezes, Arun Agarwal | Ashutosh Shirwaikar |
| Exit load | Not available | NIL |
HDFC NIFTY Midcap 150 ETF vs Navi Nifty Midsmallcap 400 Index: 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 Midcap 150 ETF | −3.70% | −8.53% | −4.07% | −4.59% | +13.56% | -- | -- |
| Navi Nifty Midsmallcap 400 Index Fund (Direct) | −4.45% | −7.72% | −2.85% | -- | -- | -- | -- |
HDFC NIFTY Midcap 150 ETF vs Navi Nifty Midsmallcap 400 Index: Year-wise Returns
| Year | HDFC NIFTY Midcap 150 ETFHDFC NIFTY Midcap 150 ETF | Navi Nifty Midsmallcap 400 IndexNavi Nifty Midsmallcap 400 Index |
|---|---|---|
| 2026to date | −5.16% | −3.70% |
| 2025 | +5.77% | -- |
| 2024 | +24.17% | -- |
HDFC NIFTY Midcap 150 ETF vs Navi Nifty Midsmallcap 400 Index: Rolling Returns
Every holding period of both funds, against Nifty Midcap 150 TRI, the benchmark of HDFC NIFTY Midcap 150 ETF
HDFC NIFTY Midcap 150 ETF vs Navi Nifty Midsmallcap 400 Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HDFC NIFTY Midcap 150 ETF | Navi Nifty Midsmallcap 400 Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +17.91% | −1.14% |
| Standard deviation | 16.08% | 17.20% |
| Sharpe ratio | 0.73 | -0.37 |
| Sortino ratio | 0.98 | -0.50 |
| Maximum drawdown | −21.0% (28-02-2025) | −14.3% (23-03-2026) |
| Beta | 1.00 | 0.99 |
| Alpha | −0.28% | −0.90% |
From daily NAVs, 15-02-2023 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.
HDFC NIFTY Midcap 150 ETF
Navi Nifty Midsmallcap 400 Index Fund (Direct)
Nifty Midcap 150 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HDFC NIFTY Midcap 150 ETF | −14.0% | 07-01-2026 | 31-03-2026 | 07-05-2026 | 37 days | −10.5% |
| Navi Nifty Midsmallcap 400 Index Fund (Direct) | −14.3% | 07-01-2026 | 23-03-2026 | 06-05-2026 | 44 days | −10.1% |
| Nifty Midcap 150 TRI | −13.9% | 07-01-2026 | 30-03-2026 | 07-05-2026 | 38 days | −10.5% |
From daily values since 10-12-2025, the first day every fund has.
HDFC NIFTY Midcap 150 ETF vs Navi Nifty Midsmallcap 400 Index: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC NIFTY Midcap 150 ETF, September 2026; Navi Nifty Midsmallcap 400 Index Fund, September 2026
Holdings in common
- Overlap
- 63.6%
- Held by both
- 149
- Only in HDFC NIFTY Midcap 150 ETF
- 1
- Only in Navi Nifty Midsmallcap 400 Index
- 247
| Security | % of HDFC NIFTY Midcap 150 ETF | % of Navi Nifty Midsmallcap 400 Index |
|---|---|---|
| Multi Commodity Exchange of India L | 2.07% | 1.33% |
| The Federal Bank Ltd. | 1.93% | 1.24% |
| Laurus Labs Ltd. | 1.90% | 1.22% |
| One 97 Communications Limited | 1.78% | 1.14% |
| Hero MotoCorp Ltd. | 1.68% | 1.08% |
| Indian Hotels Company Ltd. | 1.58% | 1.01% |
| Coforge Limited | 1.50% | 0.96% |
| Bharat Heavy Electricals Ltd. | 1.49% | 0.96% |
| Indusind Bank Ltd. | 1.46% | 0.94% |
| Au Small Finance Bank Ltd. | 1.45% | 0.93% |
| Persistent Systems Limited | 1.41% | 0.91% |
| Dixon Technologies (India) Ltd. | 1.34% | 0.87% |
| IDFC First Bank Limited | 1.33% | 0.86% |
| Bharat Forge Ltd. | 1.32% | 0.85% |
| GE Vernova T&D India Limited | 1.28% | 0.82% |
| LENSKART SOLUTIONS LIMITED | 1.24% | 0.80% |
| Life Insurance Corporation of India | 1.23% | 0.79% |
| Lupin Ltd. | 1.21% | 0.78% |
| Suzlon Energy Ltd | 1.18% | 0.76% |
| Indus Towers Limited | 1.18% | 0.76% |
| INFO EDGE (INDIA) LIMITED | 1.16% | 0.75% |
| Aurobindo Pharma Ltd. | 1.14% | 0.73% |
| Ashok Leyland Ltd | 1.09% | 0.70% |
| Fsn Ecommerce Ventures Limited (Nykaa) | 1.08% | 0.69% |
| Marico Ltd. | 1.03% | 0.66% |
| Fortis Healthcare Limited | 0.99% | 0.64% |
| United Spirits Limited | 0.99% | 0.63% |
| APL Apollo Tubes Ltd. | 0.98% | 0.63% |
| ICICI Lombard General Insurance Co | 0.95% | 0.61% |
| PB Fintech Limited | 0.93% | 0.60% |
| Swiggy Limited | 0.93% | 0.59% |
| REC Limited. | 0.92% | 0.59% |
| Yes Bank Ltd. | 0.91% | 0.58% |
| Max Financial Services Ltd. | 0.90% | 0.58% |
| The Phoenix Mills Limited | 0.89% | 0.57% |
| SRF Ltd. | 0.88% | 0.57% |
| Glenmark Pharmaceuticals Ltd. | 0.87% | 0.56% |
| Radico Khaitan Limited | 0.84% | 0.54% |
| Hindustan Petroleum Corp. Ltd. | 0.83% | 0.53% |
| Lodha Developers Limited | 0.83% | 0.53% |
| GMR Airports Limited | 0.81% | 0.52% |
| Apar Industries Limited | 0.80% | 0.52% |
| Aditya Birla Capital ltd. | 0.80% | 0.51% |
| Alkem Laboratories Ltd. | 0.77% | 0.49% |
| JSW Energy Ltd. | 0.75% | 0.48% |
| National Aluminium Co. Ltd. | 0.75% | 0.48% |
| UPL Ltd. | 0.75% | 0.48% |
| Shree Cement Ltd. | 0.74% | 0.47% |
| Sundaram Finance Ltd. | 0.74% | 0.47% |
| Vishal Mega Mart Limited | 0.70% | 0.45% |
| MphasiS Limited. | 0.70% | 0.45% |
| Indian Bank | 0.70% | 0.45% |
| MANKIND PHARMA LIMITED | 0.70% | 0.45% |
| NHPC Ltd. | 0.68% | 0.43% |
| KEI Industries Ltd. | 0.68% | 0.43% |
| 360 ONE WAM LIMITED | 0.67% | 0.43% |
| Piramal Finance Ltd. | 0.66% | 0.42% |
| Ipca Laboratories Ltd. | 0.66% | 0.42% |
| Billionbrains Garage Ventures Limited (Groww) | 0.65% | 0.42% |
| Steel Authority Of India Ltd. | 0.65% | 0.42% |
| NMDC Limited | 0.65% | 0.42% |
| Lloyds Metals & Energy Ltd. | 0.64% | 0.41% |
| Biocon Ltd. | 0.64% | 0.41% |
| Havells India Ltd. | 0.63% | 0.41% |
| Prestige Estates Projects Ltd. | 0.62% | 0.40% |
| Oracle Financial Ser Software Ltd. | 0.62% | 0.40% |
| MRF Ltd. | 0.62% | 0.40% |
| Tube Investments of India Ltd. | 0.62% | 0.40% |
| Voltas Ltd. | 0.60% | 0.39% |
| Oil India Limited | 0.60% | 0.39% |
| Jindal Stainless Ltd. | 0.58% | 0.37% |
| Torrent Power Ltd. | 0.58% | 0.37% |
| Colgate-Palmolive ( I ) Ltd. | 0.57% | 0.37% |
| Waaree Energies Limited | 0.56% | 0.36% |
| L&T Finance Ltd. | 0.56% | 0.36% |
| Dabur India Ltd. | 0.55% | 0.36% |
| Page Industries Ltd | 0.57% | 0.35% |
| Supreme Industries Ltd. | 0.55% | 0.35% |
| Godrej Properties Ltd. | 0.54% | 0.35% |
| Petronet LNG Ltd. | 0.53% | 0.34% |
| Mahindra & Mahindra Financial Services Ltd. | 0.53% | 0.34% |
| Kalyan Jewellers India Ltd | 0.52% | 0.34% |
| UNO Minda Limited | 0.52% | 0.34% |
| JK Cement Limited | 0.52% | 0.34% |
| JSW Infrastructure Limited | 0.52% | 0.34% |
| Coromandel International Limited | 0.52% | 0.33% |
| Oberoi Realty Ltd. | 0.51% | 0.33% |
| Meesho Limited | 0.51% | 0.33% |
| Blue Star Ltd. | 0.49% | 0.31% |
| Tata Communications Limited | 0.48% | 0.31% |
| Nippon Life India Asset Management Limited | 0.48% | 0.31% |
| Exide Industries Ltd. | 0.46% | 0.30% |
| PI Industries Ltd. | 0.46% | 0.30% |
| Aster DM Quality Care Limited | 0.46% | 0.30% |
| GUJARAT FLUOROCHEMICALS LIMITED | 0.46% | 0.29% |
| ICICI PRUDENTIAL ASSET MANAGEMENT COMPANY LIMITED | 0.45% | 0.29% |
| ITC Hotels Limited | 0.45% | 0.29% |
| HINDUSTAN COPPER LIMITED | 0.45% | 0.29% |
| Jubilant Foodworks Limited | 0.44% | 0.28% |
| LG Electronics India Limited | 0.43% | 0.28% |
| ICICI Prudential Life Insurance Company Ltd. | 0.43% | 0.28% |
| SBI CARDS AND PAYMENT SERVICES LIMITED | 0.42% | 0.27% |
| Balkrishna Industries Ltd. | 0.42% | 0.27% |
| Astral Limited | 0.41% | 0.27% |
| Ajanta Pharma Limited | 0.41% | 0.26% |
| ADANI TOTAL GAS LIMITED | 0.41% | 0.26% |
| Bank of Maharashtra | 0.40% | 0.26% |
| Bank of India | 0.39% | 0.25% |
| LIC Housing Finance Ltd. | 0.39% | 0.25% |
| Motilal Oswal Financial Services Ltd. | 0.39% | 0.25% |
| Schaeffler India Ltd. | 0.39% | 0.25% |
| Container Corporation of India Ltd. | 0.38% | 0.24% |
| AIA Engineering Ltd. | 0.37% | 0.24% |
| AUTHUM INVESTMENT & INFRASTRUCTURE LIMITED | 0.36% | 0.23% |
| Abbott India Ltd. | 0.35% | 0.22% |
| Indian Railway Catering And Tourism Corp Ltd | 0.34% | 0.22% |
| Dalmia Bharat Ltd. | 0.33% | 0.21% |
| Linde India Ltd | 0.33% | 0.21% |
| Thermax Ltd. | 0.32% | 0.21% |
| Berger Paints (I) Ltd | 0.32% | 0.21% |
| General Insurance Corporation of India | 0.32% | 0.21% |
| HDB Financial Services Ltd. | 0.32% | 0.21% |
| Premier Energies Limited | 0.31% | 0.20% |
| Patanjali Foods Limited | 0.31% | 0.20% |
| Cochin Shipyard Ltd. | 0.31% | 0.20% |
| Narayana Hrudayalaya Limited | 0.30% | 0.20% |
| Global Health Limited | 0.30% | 0.19% |
| K.P.R. MILL LIMITED | 0.30% | 0.19% |
| GlaxoSmithkline Pharmaceuticals Ltd | 0.28% | 0.18% |
| Rail Vikas Nigam Ltd | 0.28% | 0.18% |
| Crisil Limited | 0.27% | 0.17% |
| Bharti Hexacom Limited | 0.26% | 0.17% |
| Bharat Dynamics Limited | 0.25% | 0.16% |
| Anthem Biosciences Limited | 0.23% | 0.15% |
| NLC India Ltd. | 0.23% | 0.15% |
| Endurance Technologies Ltd. | 0.23% | 0.15% |
| L&T Technology Services Ltd. | 0.22% | 0.14% |
| ESCORTS KUBOTA LIMITED | 0.22% | 0.14% |
| Indian Renewable Energy Development Agency Limited | 0.22% | 0.14% |
| Bajaj Housing Finance Ltd. | 0.22% | 0.14% |
| NTPC Green Energy Limited | 0.21% | 0.14% |
| Housing and Urban Development Corporation Ltd. | 0.21% | 0.13% |
| United Breweries Ltd. | 0.21% | 0.13% |
| Tata Investment Corp Ltd | 0.20% | 0.13% |
| Godfrey Phillips India Ltd. | 0.19% | 0.12% |
| Hexaware Technologies Ltd. | 0.18% | 0.12% |
| Fertilisers And Chemicals Travancore Limited | 0.12% | 0.07% |
| Godrej Industries Ltd. | 0.11% | 0.07% |
| Indian Overseas Bank | 0.11% | 0.07% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 63.6% means 63.6% 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 REIT | 0.94% |
Largest holdings only in Navi Nifty Midsmallcap 400 Index Fund
| Security | % of fund |
|---|---|
| SONA BLW PRECISION FORGINGS LIMITED | 0.59% |
| WELSPUN CORP LTD | 0.56% |
| KARUR VYSYA BANK LIMITED | 0.49% |
| NAVIN FLUORINE INTERNATIONAL LIMITED | 0.48% |
| ATHER ENERGY LIMITED | 0.43% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC NIFTY Midcap 150 ETF | Navi Nifty Midsmallcap 400 Index |
|---|---|---|
| Equity | 99.0% | 97.8% |
| Debt | 0.0% | 0.0% |
| Cash and others | 1.0% | 2.2% |
Market cap of stocks
| Market cap | HDFC NIFTY Midcap 150 ETF | Navi Nifty Midsmallcap 400 Index |
|---|---|---|
| Large Cap | 5.7% | 3.7% |
| Mid Cap | 90.8% | 59.3% |
| Small Cap | 2.5% | 34.5% |
| Not on AMFI's list | 0.0% | 0.3% |
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 Midcap 150 ETF | Navi Nifty Midsmallcap 400 Index |
|---|---|---|
| Pharmaceuticals & Biotechnology | 9.2% | 0.0% |
| Banks | 8.7% | 0.0% |
| PHARMACEUTICALS & BIOTECHNOLOGY | 0.0% | 8.6% |
| BANKS | 0.0% | 7.4% |
| FINANCE | 0.0% | 7.0% |
| Finance | 6.8% | 0.0% |
| Electrical Equipment | 5.9% | 0.0% |
| AUTO COMPONENTS | 0.0% | 5.9% |
| Retailing | 5.6% | 0.0% |
| CAPITAL MARKETS | 0.0% | 4.9% |
| INDUSTRIAL PRODUCTS | 0.0% | 4.9% |
| Capital Markets | 4.7% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
HDFC NIFTY Midcap 150 ETF vs Navi Nifty Midsmallcap 400 Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC NIFTY Midcap 150 ETF | Navi Nifty Midsmallcap 400 Index Fund |
|---|---|---|
| Total expense ratio (Direct) | Not available | 0.52% |
| Base expense ratio (Direct) | 0.00% | 0.15% |
| Total expense ratio (Regular) | Not available | 1.40% |
| 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 Navi Nifty Midsmallcap 400 Index Fund: Frequently Asked Questions
What is the difference between HDFC NIFTY Midcap 150 ETF and Navi Nifty Midsmallcap 400 Index Fund?
HDFC NIFTY Midcap 150 ETF is an ETF fund, Navi Nifty Midsmallcap 400 Index Fund is an Index fund, run by HDFC Mutual Fund and Navi Mutual Fund. Their portfolios overlap 63.6%. HDFC NIFTY Midcap 150 ETF charges 0.25% a year and Navi Nifty Midsmallcap 400 Index Fund 0.52%.
Which has the lower expense ratio, HDFC NIFTY Midcap 150 ETF or Navi Nifty Midsmallcap 400 Index Fund?
HDFC NIFTY Midcap 150 ETF charges less: 0.25% a year against 0.52%. These are the total expense ratios reported to AMFI.
How much do HDFC NIFTY Midcap 150 ETF and Navi Nifty Midsmallcap 400 Index Fund overlap?
63.6%. 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 Navi Nifty Midsmallcap 400 Index Fund?
On SEBI's riskometer, HDFC NIFTY Midcap 150 ETF is rated Very High and Navi Nifty Midsmallcap 400 Index Fund Very High. Over their common history, the standard deviation of daily returns was 16.08% and 17.20% a year.
Can I invest in both HDFC NIFTY Midcap 150 ETF and Navi Nifty Midsmallcap 400 Index Fund?
Yes. 63.6% 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 Navi Nifty Midsmallcap 400 Index Fund?
HDFC NIFTY Midcap 150 ETF: Abhishek Mor, Nandita Menezes, Arun Agarwal. Navi Nifty Midsmallcap 400 Index Fund: Ashutosh Shirwaikar.
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.