HSBC Small Cap Fund vs Motilal Oswal Nifty Smallcap 250 ETF
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
HSBC Small Cap Fund is a Small Cap fund and Motilal Oswal Nifty Smallcap 250 ETF is an ETF fund. In the year to 30-10-2026, HSBC Small Cap Fund (Direct) returned 2.4% and Motilal Oswal Nifty Smallcap 250 ETF returned −3.6%. HSBC Small Cap Fund charges 0.78% a year and Motilal Oswal Nifty Smallcap 250 ETF 0.58%. Their portfolios overlap 27.7%: they hold 51 of the same securities.
Motilal Oswal Nifty Smallcap 250 ETF
ETF
- 1 year return
- −3.6%
- Expense ratio
- 0.58%
- NAV
- ₹16.84
Which is better, HSBC Small Cap or Motilal Oswal Nifty Smallcap 250 ETF? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HSBC Small Cap returned more over 1 year: 2.4% against −3.6%.
- Motilal Oswal Nifty Smallcap 250 ETF costs less: 0.58% a year against 0.78%.
- Motilal Oswal Nifty Smallcap 250 ETF fell less in its worst fall since 21-03-2024: −26.1% against −27.2%.
- HSBC Small Cap is the larger fund: ₹18,513 Cr against ₹250 Cr.
- Their portfolios overlap 27.7%: 51 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 Small Cap Fund | Motilal Oswal Nifty Smallcap 250 ETF |
|---|---|---|
| Fund house | HSBC Mutual Fund | Motilal Oswal Mutual Fund |
| Category | Small Cap | ETF |
| AUM | ₹18,513 Cr (30-09-2026) | ₹250 Cr (30-09-2026) |
| NAV | ₹93.25 (Direct) | ₹16.84 |
| Expense ratio (Direct) | 0.78% | Not available |
| Expense ratio (Regular) | 1.79% | Not available |
| Riskometer | Very High | Very High |
| Benchmark | Nifty Smallcap 250 TRI | Nifty Smallcap 250 TRI |
| Launch date | 12-05-2014 | 15-03-2024 |
| Minimum investment | ₹5,000 | On the Exchange: As the Scheme would be listed on the exchange, the investor can buy units on an ongoing basis on NSE at the traded prices which may be close to the actual NAV of the Scheme. The units are purchased in round lots of 1 unit. Directly with t |
| Lock in | None | None |
| Fund managers | Mayank Chaturvedi, Dipan S. Parikh | Swapnil Mayekar, 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 Small Cap vs Motilal Oswal Nifty Smallcap 250 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 Small Cap Fund (Direct) | −6.97% | −3.04% | +4.17% | +2.35% | +11.75% | -- | -- |
| Motilal Oswal Nifty Smallcap 250 ETF | −5.81% | −6.08% | +0.30% | −3.63% | -- | -- | -- |
| Small Cap average | −5.86% | −3.28% | +5.03% | +3.00% | +14.03% | -- | -- |
Category average: the average of the 36 Small Cap funds, same plan type.
HSBC Small Cap vs Motilal Oswal Nifty Smallcap 250 ETF: Year-wise Returns
| Year | HSBC Small CapHSBC Small Cap | Motilal Oswal Nifty Smallcap 250 ETFMotilal Oswal Nifty Smallcap 250 ETF | Nifty Smallcap 250 TRI |
|---|---|---|---|
| 2026to date | +6.60% | +0.54% | +1.00% |
| 2025 | −10.63% | −5.74% | −5.48% |
| 2024 | +29.82% | -- | +27.21% |
| 2023 | +47.56% | -- | +49.09% |
HSBC Small Cap vs Motilal Oswal Nifty Smallcap 250 ETF: Rolling Returns
Every holding period of both funds, against Nifty Smallcap 250 TRI, the benchmark of both
Rolling returns
Every 1-year holding period, 396 of them, one for each trading day from 21-03-2025 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.
HSBC Small Cap Fund (Direct)
Motilal Oswal Nifty Smallcap 250 ETF
Nifty Smallcap 250 TRI
to
May 2025Aug 2024
to
Aug 2025Nov 2024
to
Nov 2025Mar 2025
to
Mar 2026Jun 2025
to
Jun 2026Sept 2025
to
Sept 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HSBC Small Cap | 47.2 | 18.7 | 19.7 | 10.1 | 4.3 | 0.0 | 0.0 | 1.2% | 1.9% | −15.6% | 19.0% | 39% |
| Motilal Oswal Nifty Smallcap 250 ETF | 40.3 | 32.7 | 20.7 | 5.8 | 0.5 | 0.0 | 0.0 | 1.2% | 1.2% | −12.1% | 15.5% | 1% |
| Nifty Smallcap 250 TRI | 37.9 | 32.6 | 21.0 | 7.8 | 0.8 | 0.0 | 0.0 | 1.6% | 1.7% | −11.9% | 16.3% | -- |
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 Smallcap 250 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 21-03-2024. Past returns do not promise future returns.
HSBC Small Cap vs Motilal Oswal Nifty Smallcap 250 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 01-03-2024 to 30-10-2026: 32 instalments, ₹3,20,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HSBC Small CapHSBC Small Cap Fund (Direct) | ₹3,20,000 | ₹3,35,800 | ₹15,800 | 3.6% |
| Motilal Oswal Nifty Smallcap 250 ETFMotilal Oswal Nifty Smallcap 250 ETF | ₹3,20,000 | ₹3,24,450 | ₹4,450 | 1.0% |
HSBC Small CapHSBC Small Cap Fund (Direct)
Motilal Oswal Nifty Smallcap 250 ETFMotilal Oswal Nifty Smallcap 250 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.
HSBC Small Cap vs Motilal Oswal Nifty Smallcap 250 ETF: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HSBC Small Cap Fund (Direct) | Motilal Oswal Nifty Smallcap 250 ETF |
|---|---|---|
| Return (CAGR) | +2.35% | −3.63% |
| Standard deviation | 18.40% | 18.12% |
| Sharpe ratio | -0.16 | -0.49 |
| Sortino ratio | -0.22 | -0.66 |
| Maximum drawdown | −17.6% (23-03-2026) | −18.3% (23-03-2026) |
| Beta | 0.99 | 1.00 |
| Alpha | +5.42% | −0.47% |
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 | HSBC Small Cap Fund (Direct) | Motilal Oswal Nifty Smallcap 250 ETF |
|---|---|---|
| Return (CAGR) | +16.18% | +7.17% |
| Standard deviation | 17.11% | 19.15% |
| Sharpe ratio | 0.58 | 0.07 |
| Sortino ratio | 0.79 | 0.09 |
| Maximum drawdown | −27.2% (03-03-2025) | −26.1% (03-03-2025) |
| Beta | 0.92 | 1.00 |
| Alpha | +1.09% | −0.50% |
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 Small Cap Fund (Direct)
Motilal Oswal Nifty Smallcap 250 ETF
Nifty Smallcap 250 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HSBC Small Cap Fund (Direct) | −27.2% | 11-12-2024 | 03-03-2025 | 18-08-2026 | 18 months | −10.8% |
| Motilal Oswal Nifty Smallcap 250 ETF | −26.1% | 23-09-2024 | 03-03-2025 | Not yet | -- | −9.7% |
| Nifty Smallcap 250 TRI | −26.0% | 23-09-2024 | 03-03-2025 | 26-08-2026 | 18 months | −9.4% |
From daily values since 21-03-2024, 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.
HSBC Small Cap Fund (Direct)
Motilal Oswal Nifty Smallcap 250 ETF
Nifty Smallcap 250 TRI
Against Nifty Smallcap 250 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| HSBC Small Cap Fund (Direct) | 102% | 97% | 4.82% |
| Motilal Oswal Nifty Smallcap 250 ETF | 99% | 101% | 0.23% |
From month-end values since 21-03-2024. 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.
HSBC Small Cap vs Motilal Oswal Nifty Smallcap 250 ETF: Portfolio Overlap
From each fund's latest monthly portfolio: HSBC Small Cap Fund, September 2026; Motilal Oswal Nifty Smallcap 250 ETF, September 2026
Holdings in common
- Overlap
- 27.7%
- Held by both
- 51
- Only in HSBC Small Cap
- 57
- Only in Motilal Oswal Nifty Smallcap 250 ETF
- 198
| Security | % of HSBC Small Cap | % of Motilal Oswal Nifty Smallcap 250 ETF |
|---|---|---|
| Karur Vysya Bank Limited | 2.04% | 1.38% |
| Navin Fluorine International Limited | 1.88% | 1.36% |
| Ather Energy Limited | 1.85% | 1.21% |
| RBL Bank Limited | 1.21% | 1.12% |
| Delhivery Limited | 1.04% | 1.11% |
| City Union Bank Limited | 1.40% | 0.98% |
| Sai Life Sciences Ltd. | 2.21% | 0.95% |
| PNB Housing Finance Limited | 1.96% | 0.95% |
| Sterlite Technologies Limited | 0.95% | 0.97% |
| Neuland Laboratories Ltd | 1.86% | 0.83% |
| WOCKHARDT LTD | 1.35% | 0.78% |
| AEGIS LOGISTICS LTD | 1.35% | 0.78% |
| Mtar Technologies Limited | 1.69% | 0.76% |
| CRAFTSMAN AUTOMATION LIMITED | 1.53% | 0.71% |
| Krishna Institute of Medical Science Ltd | 0.66% | 0.89% |
| Kirloskar Oil Engines Ltd | 0.65% | 0.86% |
| IIFL Finance Limited | 0.99% | 0.63% |
| Cholamandalam Financial Holdings Limited | 1.04% | 0.62% |
| PTC INDUSTRIES LIMITED | 1.36% | 0.60% |
| CarTrade Tech Limited | 1.03% | 0.56% |
| Carborundum Universal Limited | 0.55% | 0.65% |
| Amber Enterprises India Limited | 0.52% | 0.65% |
| KFIN Technologies Limited | 1.16% | 0.50% |
| FINOLEX CABLES LTD | 1.67% | 0.49% |
| ZF Comm. Vehicle Control Systems Ind Ltd | 0.57% | 0.48% |
| Angel One Limited | 0.46% | 0.80% |
| Kajaria Ceramics Limited | 1.58% | 0.45% |
| Sagility Limited | 0.57% | 0.44% |
| Pine Labs Limited | 0.45% | 0.43% |
| Jyoti Cnc Automation Ltd | 1.33% | 0.40% |
| Engineers India Limited | 2.18% | 0.38% |
| Emcure Pharmaceuticals Limited | 0.93% | 0.36% |
| GABRIEL INDIA LIMITED | 0.49% | 0.35% |
| eClerx Services Limited | 0.92% | 0.33% |
| Welspun Living Limited | 1.98% | 0.32% |
| VIJAYA DIAGNOSTIC CENTRE LIMITED | 1.94% | 0.32% |
| CCL Products (India) Limited | 1.18% | 0.32% |
| EID Parry India Limited | 0.52% | 0.32% |
| Creditaccess Grameen Limited | 0.72% | 0.31% |
| TITAGARH RAIL SYSTEMS LIMITED | 0.72% | 0.29% |
| Jindal Saw Ltd | 0.37% | 0.29% |
| Data Patterns (India) Limited | 0.26% | 0.58% |
| Devyani International Limited | 0.96% | 0.25% |
| Sumitomo Chemical India Limited | 1.09% | 0.24% |
| Sobha Limited | 0.83% | 0.24% |
| TECHNO ELECTRIC & ENGINEERING COMPANY LI | 0.98% | 0.23% |
| Lemon Tree Hotels Limited | 0.65% | 0.23% |
| Shriram Pistons & Rings Limited | 0.21% | 0.37% |
| Home First Finance Company India Limited | 0.11% | 0.48% |
| Aditya Birla Real Estate Limited | 0.07% | 0.27% |
| Doms Industries Limited | 0.05% | 0.21% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 27.7% means 27.7% 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 HSBC Small Cap Fund
| Security | % of fund |
|---|---|
| APAR INDUSTRIES LTD | 2.66% |
| The Federal Bank Limited | 1.94% |
| Radico Khaitan Limited | 1.85% |
| HAPPY FORGINGS LIMITED | 1.82% |
| Motilal Oswal Financial Services Limited | 1.52% |
Largest holdings only in Motilal Oswal Nifty Smallcap 250 ETF
| Security | % of fund |
|---|---|
| Sona BLW Precision Forgings Limited | 1.67% |
| Welspun Corp Limited | 1.60% |
| Redington Limited | 1.08% |
| Gland Pharma Limited | 1.04% |
| HFCL Limited | 1.04% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HSBC Small Cap | Motilal Oswal Nifty Smallcap 250 ETF |
|---|---|---|
| Equity | 99.2% | 98.7% |
| Debt | 0.0% | 0.0% |
| Cash and others | 0.8% | 1.3% |
Market cap of stocks
| Market cap | HSBC Small Cap | Motilal Oswal Nifty Smallcap 250 ETF |
|---|---|---|
| Large Cap | 1.3% | 0.0% |
| Mid Cap | 21.5% | 2.7% |
| Small Cap | 73.6% | 95.0% |
| Not on AMFI's list | 2.8% | 1.0% |
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 Small Cap | Motilal Oswal Nifty Smallcap 250 ETF |
|---|---|---|
| Industrial Products | 13.4% | 8.7% |
| Pharmaceuticals & Biotechnology | 9.5% | 7.8% |
| Auto Components | 6.3% | 8.4% |
| Finance | 6.0% | 7.6% |
| Banks | 7.6% | 5.1% |
| Capital Markets | 6.4% | 5.4% |
| Electrical Equipment | 6.4% | 3.4% |
| Chemicals & Petrochemicals | 3.8% | 5.7% |
The six largest sectors of each fund's stocks, % of the fund.
HSBC Small Cap vs Motilal Oswal Nifty Smallcap 250 ETF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HSBC Small Cap Fund | Motilal Oswal Nifty Smallcap 250 ETF |
|---|---|---|
| Total expense ratio (Direct) | 0.78% | Not available |
| Base expense ratio (Direct) | 0.57% | 0.00% |
| Total expense ratio (Regular) | 1.79% | Not available |
| Base expense ratio (Regular) | 1.43% | 0.27% |
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 Small Cap Fund vs Motilal Oswal Nifty Smallcap 250 ETF: Frequently Asked Questions
What is the difference between HSBC Small Cap Fund and Motilal Oswal Nifty Smallcap 250 ETF?
HSBC Small Cap Fund is a Small Cap fund, Motilal Oswal Nifty Smallcap 250 ETF is an ETF fund, run by HSBC Mutual Fund and Motilal Oswal Mutual Fund. Their portfolios overlap 27.7%. HSBC Small Cap Fund charges 0.78% a year and Motilal Oswal Nifty Smallcap 250 ETF 0.58%.
Which has given higher returns, HSBC Small Cap Fund or Motilal Oswal Nifty Smallcap 250 ETF?
Over 1 year: HSBC Small Cap Fund +2.35%, Motilal Oswal Nifty Smallcap 250 ETF −3.63%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HSBC Small Cap Fund or Motilal Oswal Nifty Smallcap 250 ETF?
Motilal Oswal Nifty Smallcap 250 ETF charges less: 0.58% a year against 0.78%. These are the total expense ratios reported to AMFI.
How much do HSBC Small Cap Fund and Motilal Oswal Nifty Smallcap 250 ETF overlap?
27.7%. They hold 51 of the same securities, the largest shared ones being KARURVYSYA, NAVINFLUOR, ATHERENERG. From each fund's latest monthly portfolio.
Which is riskier, HSBC Small Cap Fund or Motilal Oswal Nifty Smallcap 250 ETF?
On SEBI's riskometer, HSBC Small Cap Fund is rated Very High and Motilal Oswal Nifty Smallcap 250 ETF Very High. Over 1 years, the standard deviation of daily returns was 18.40% and 18.12% a year.
Can I invest in both HSBC Small Cap Fund and Motilal Oswal Nifty Smallcap 250 ETF?
Yes. 27.7% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages HSBC Small Cap Fund and Motilal Oswal Nifty Smallcap 250 ETF?
HSBC Small Cap Fund: Mayank Chaturvedi, Dipan S. Parikh. Motilal Oswal Nifty Smallcap 250 ETF: Swapnil Mayekar, 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.