HSBC Midcap Fund vs Motilal Oswal BSE Select IPO ETF
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
HSBC Midcap Fund is a Mid Cap fund and Motilal Oswal BSE Select IPO ETF is an ETF fund. HSBC Midcap Fund charges 1.11% a year and Motilal Oswal BSE Select IPO ETF 0.71%. Their portfolios overlap 24.8%: they hold 16 of the same securities.
Which is better, HSBC Midcap or Motilal Oswal BSE Select IPO 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 BSE Select IPO ETF costs less: 0.71% a year against 1.11%.
- HSBC Midcap fell less in its worst fall since 20-11-2025: −13.1% against −22.0%.
- Motilal Oswal BSE Select IPO ETF holds more in large companies: 25.8% of the fund in large caps against 4.7%.
- HSBC Midcap is the larger fund: ₹16,800 Cr against ₹6 Cr.
- Their portfolios overlap 24.8%: 16 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 | HSBC Midcap Fund | Motilal Oswal BSE Select IPO ETF |
|---|---|---|
| Fund house | HSBC Mutual Fund | Motilal Oswal Mutual Fund |
| Category | Mid Cap | ETF |
| AUM | ₹16,800 Cr (30-09-2026) | ₹6 Cr (30-09-2026) |
| NAV | ₹502.29 (Direct) | ₹44.57 |
| Expense ratio (Direct) | 1.11% | Not available |
| Expense ratio (Regular) | 2.18% | Not available |
| Riskometer | Very High | Very High |
| Benchmark | Nifty Midcap 150 TRI | BSE Select IPO TRI |
| Launch date | 09-08-2004 | 17-11-2025 |
| Minimum investment | ₹5,000 | 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 | None | None |
| Fund managers | Cheenu Gupta, Mayank Chaturvedi, Dipan S. Parikh | Swapnil Mayekar, Dishant Mehta, Rakesh Shetty |
| Exit load | Exit load for units in excess of 10% of the investment, 1% will be charged for redemption within 1 year. | Nil |
HSBC Midcap vs Motilal Oswal BSE Select IPO 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 |
|---|---|---|---|---|---|---|---|
| HSBC Midcap Fund (Direct) | −2.89% | −2.26% | +3.65% | +9.56% | +21.64% | -- | -- |
| Motilal Oswal BSE Select IPO ETF | −3.54% | −4.78% | +2.92% | -- | -- | -- | -- |
| Mid Cap average | −3.36% | −6.03% | −0.14% | −2.17% | +14.75% | -- | -- |
Category average: the average of the 34 Mid Cap funds, same plan type.
HSBC Midcap vs Motilal Oswal BSE Select IPO ETF: Year-wise Returns
| Year | HSBC MidcapHSBC Midcap | Motilal Oswal BSE Select IPO ETFMotilal Oswal BSE Select IPO ETF |
|---|---|---|
| 2026to date | +9.89% | −3.60% |
| 2025 | −0.31% | -- |
| 2024 | +41.24% | -- |
| 2023 | +41.53% | -- |
HSBC Midcap vs Motilal Oswal BSE Select IPO ETF: Rolling Returns
Every holding period of both funds, against Nifty Midcap 150 TRI, the benchmark of HSBC Midcap Fund
HSBC Midcap vs Motilal Oswal BSE Select IPO ETF: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HSBC Midcap Fund (Direct) | Motilal Oswal BSE Select IPO ETF |
|---|---|---|
| Return (CAGR) | +21.80% | −9.45% |
| Standard deviation | 17.02% | 18.49% |
| Sharpe ratio | 0.92 | -0.79 |
| Sortino ratio | 1.23 | -1.06 |
| Maximum drawdown | −26.0% (28-02-2025) | −22.0% (31-03-2026) |
| Beta | 1.01 | 1.00 |
| Alpha | +5.71% | −0.44% |
From daily NAVs, 28-11-2022 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.
HSBC Midcap Fund (Direct)
Motilal Oswal BSE Select IPO ETF
Nifty Midcap 150 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HSBC Midcap Fund (Direct) | −13.1% | 31-08-2026 | 23-10-2026 | Not yet | -- | −9.5% |
| Motilal Oswal BSE Select IPO ETF | −22.0% | 20-11-2025 | 31-03-2026 | 25-08-2026 | 5 months | −9.7% |
| Nifty Midcap 150 TRI | −13.9% | 07-01-2026 | 30-03-2026 | 07-05-2026 | 38 days | −10.5% |
From daily values since 20-11-2025, the first day every fund has.
HSBC Midcap vs Motilal Oswal BSE Select IPO ETF: Portfolio Overlap
From each fund's latest monthly portfolio: HSBC Midcap Fund, September 2026; Motilal Oswal BSE Select IPO ETF, September 2026
Holdings in common
- Overlap
- 24.8%
- Held by both
- 16
- Only in HSBC Midcap
- 49
- Only in Motilal Oswal BSE Select IPO ETF
- 54
| Security | % of HSBC Midcap | % of Motilal Oswal BSE Select IPO ETF |
|---|---|---|
| Lenskart Solutions Limited | 5.08% | 5.19% |
| Meesho Limited | 5.04% | 5.50% |
| FSN E-Commerce Ventures Limited | 3.38% | 3.21% |
| Mankind Pharma Limited | 2.22% | 2.04% |
| Ather Energy Limited | 3.03% | 1.97% |
| Piramal Finance Ltd | 3.56% | 1.79% |
| One 97 Communications Limited | 1.47% | 5.01% |
| PB Fintech Limited | 1.45% | 2.77% |
| Data Patterns (India) Limited | 1.71% | 0.91% |
| Aditya Infotech Limited | 3.64% | 0.76% |
| ACME Solar Holdings Ltd. | 1.33% | 0.63% |
| Shadowfax Technologies Limited | 1.77% | 0.41% |
| Bharti Hexacom Limited | 0.01% | 0.78% |
| Kaynes Technology India Ltd. | 0.01% | 0.81% |
| Anthem Biosciences Limited | 0.01% | 0.67% |
| SWIGGY LIMITED | 0.01% | 2.72% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 24.8% means 24.8% 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 HSBC Midcap Fund
| Security | % of fund |
|---|---|
| The Federal Bank Limited | 3.90% |
| APAR INDUSTRIES LTD | 3.16% |
| GE Vernova T&D India Limited | 3.09% |
| Dhoot Transmission Limited | 2.91% |
| Radico Khaitan Limited | 2.89% |
Largest holdings only in Motilal Oswal BSE Select IPO ETF
| Security | % of fund |
|---|---|
| Eternal Limited | 5.24% |
| Tata Motors Ltd | 4.97% |
| Jio Financial Services Limited | 4.92% |
| Life Insurance Corporation Of India | 4.00% |
| Sona BLW Precision Forgings Limited | 2.72% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HSBC Midcap | Motilal Oswal BSE Select IPO ETF |
|---|---|---|
| Equity | 99.2% | 100.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 0.8% | 0.0% |
Market cap of stocks
| Market cap | HSBC Midcap | Motilal Oswal BSE Select IPO ETF |
|---|---|---|
| Large Cap | 4.7% | 25.8% |
| Mid Cap | 65.3% | 46.3% |
| Small Cap | 25.0% | 27.9% |
| Not on AMFI's list | 4.2% | 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 | HSBC Midcap | Motilal Oswal BSE Select IPO ETF |
|---|---|---|
| Retailing | 13.5% | 24.3% |
| Electrical Equipment | 15.4% | 5.1% |
| Finance | 7.3% | 11.5% |
| Banks | 11.0% | 0.0% |
| Financial Technology (Fintech) | 2.9% | 9.2% |
| Pharmaceuticals & Biotechnology | 7.9% | 6.8% |
| Auto Components | 5.5% | 4.8% |
| Capital Markets | 5.1% | 5.0% |
The six largest sectors of each fund's stocks, % of the fund.
HSBC Midcap vs Motilal Oswal BSE Select IPO ETF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HSBC Midcap Fund | Motilal Oswal BSE Select IPO ETF |
|---|---|---|
| Total expense ratio (Direct) | 1.11% | Not available |
| Base expense ratio (Direct) | 0.54% | 0.00% |
| Total expense ratio (Regular) | 2.18% | Not available |
| Base expense ratio (Regular) | 1.44% | 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
HSBC Midcap Fund vs Motilal Oswal BSE Select IPO ETF: Frequently Asked Questions
What is the difference between HSBC Midcap Fund and Motilal Oswal BSE Select IPO ETF?
HSBC Midcap Fund is a Mid Cap fund, Motilal Oswal BSE Select IPO ETF is an ETF fund, run by HSBC Mutual Fund and Motilal Oswal Mutual Fund. Their portfolios overlap 24.8%. HSBC Midcap Fund charges 1.11% a year and Motilal Oswal BSE Select IPO ETF 0.71%.
Which has the lower expense ratio, HSBC Midcap Fund or Motilal Oswal BSE Select IPO ETF?
Motilal Oswal BSE Select IPO ETF charges less: 0.71% a year against 1.11%. These are the total expense ratios reported to AMFI.
How much do HSBC Midcap Fund and Motilal Oswal BSE Select IPO ETF overlap?
24.8%. They hold 16 of the same securities, the largest shared ones being LENSKART, MEESHO, NYKAA. From each fund's latest monthly portfolio.
Which is riskier, HSBC Midcap Fund or Motilal Oswal BSE Select IPO ETF?
On SEBI's riskometer, HSBC Midcap Fund is rated Very High and Motilal Oswal BSE Select IPO ETF Very High. Over their common history, the standard deviation of daily returns was 17.02% and 18.49% a year.
Can I invest in both HSBC Midcap Fund and Motilal Oswal BSE Select IPO ETF?
Yes. 24.8% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages HSBC Midcap Fund and Motilal Oswal BSE Select IPO ETF?
HSBC Midcap Fund: Cheenu Gupta, Mayank Chaturvedi, Dipan S. Parikh. Motilal Oswal BSE Select IPO 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.