ICICI Prudential BSE Insurance ETF vs Motilal Oswal Nifty MidSmall Financial Services Index Fund
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
ICICI Prudential BSE Insurance ETF is an ETF fund and Motilal Oswal Nifty MidSmall Financial Services Index Fund is a mutual fund. ICICI Prudential BSE Insurance ETF charges 0.72% a year and Motilal Oswal Nifty MidSmall Financial Services Index Fund 0.89%. Their portfolios overlap 14.5%: they hold 4 of the same securities.
ICICI Prudential BSE Insurance ETF
ETF
- Expense ratio
- 0.72%
- NAV
- ₹14.02
Motilal Oswal Nifty MidSmall Financial Services Index Fund
- Expense ratio
- 0.89%
- NAV
- ₹13.03
Which is better, ICICI Prudential BSE Insurance ETF or Motilal Oswal Nifty MidSmall Financial Services Index? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- ICICI Prudential BSE Insurance ETF costs less: 0.72% a year against 0.89%.
- ICICI Prudential BSE Insurance ETF fell less in its worst fall since 03-08-2026: −11.5% against −13.8%.
- ICICI Prudential BSE Insurance ETF holds more in large companies: 56.9% of the fund in large caps against 8.0%.
- Motilal Oswal Nifty MidSmall Financial Services Index is the larger fund: ₹118 Cr against ₹79 Cr.
- Their portfolios overlap 14.5%: 4 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 | ICICI Prudential BSE Insurance ETF | Motilal Oswal Nifty MidSmall Financial Services Index Fund |
|---|---|---|
| Fund house | ICICI Prudential Mutual Fund | Motilal Oswal Mutual Fund |
| Category | ETF | Not available |
| AUM | ₹79 Cr (30-09-2026) | ₹118 Cr (30-09-2026) |
| NAV | ₹14.02 | ₹13.03 (Direct) |
| Expense ratio (Direct) | Not available | 0.89% |
| Expense ratio (Regular) | Not available | 1.29% |
| Riskometer | Not available | Not available |
| Benchmark | BSE Insurance TRI | Not available |
| Launch date | 31-07-2026 | Not available |
| Minimum investment | During Ongoing/Continuous Offer: On Stock Exchanges: Investors can buy/sell units of the Scheme in round lot of 1 unit and in multiples thereof. Directly with the Mutual Fund: Investors can buy or sell units of the scheme in creation unit size and its mul | Not available |
| Lock in | None | Not available |
| Fund managers | Nishit Patel, Ashwini Shinde, Venus Ahuja | Not available |
| Exit load | There will be no exit load for units sold through the secondary market on the stock exchanges where the Scheme will be listed. Currently, the Scheme is proposed to be listed on BSE and NSE. Investors shall note that the brokerage on sales of the units of the scheme on the stock exchanges shall be borne by the investors. | Not available |
ICICI Prudential BSE Insurance ETF vs Motilal Oswal Nifty MidSmall Financial Services 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 |
|---|---|---|---|---|---|---|---|
| ICICI Prudential BSE Insurance ETF | −3.35% | -- | -- | -- | -- | -- | -- |
| Motilal Oswal Nifty MidSmall Financial Services Index Fund (Direct) | −5.32% | −9.84% | −6.11% | +0.78% | -- | -- | -- |
ICICI Prudential BSE Insurance ETF vs Motilal Oswal Nifty MidSmall Financial Services Index: Year-wise Returns
| Year | ICICI Prudential BSE Insurance ETFICICI Prudential BSE Insurance ETF | Motilal Oswal Nifty MidSmall Financial Services IndexMotilal Oswal Nifty MidSmall Financial Services Index |
|---|---|---|
| 2026to date | -- | −4.06% |
| 2025 | -- | +30.50% |
ICICI Prudential BSE Insurance ETF vs Motilal Oswal Nifty MidSmall Financial Services Index: Rolling Returns
Every holding period of both funds, against BSE Insurance TRI, the benchmark of ICICI Prudential BSE Insurance ETF
ICICI Prudential BSE Insurance ETF vs Motilal Oswal Nifty MidSmall Financial Services Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | ICICI Prudential BSE Insurance ETF | Motilal Oswal Nifty MidSmall Financial Services Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | −39.74% | +13.57% |
| Standard deviation | 16.05% | 21.10% |
| Sharpe ratio | -2.80 | 0.38 |
| Sortino ratio | -3.52 | 0.54 |
| Maximum drawdown | −11.5% (30-10-2026) | −19.9% (13-03-2025) |
| Beta | 1.00 | 1.00 |
| Alpha | +0.67% | −0.90% |
From daily NAVs, 03-08-2026 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.
ICICI Prudential BSE Insurance ETF
Motilal Oswal Nifty MidSmall Financial Services Index Fund (Direct)
BSE Insurance TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| ICICI Prudential BSE Insurance ETF | −11.5% | 03-08-2026 | 30-10-2026 | Not yet | -- | −11.5% |
| Motilal Oswal Nifty MidSmall Financial Services Index Fund (Direct) | −13.8% | 26-08-2026 | 23-10-2026 | Not yet | -- | −13.6% |
| BSE Insurance TRI | −11.7% | 03-08-2026 | 30-10-2026 | Not yet | -- | −11.7% |
From daily values since 03-08-2026, the first day every fund has.
ICICI Prudential BSE Insurance ETF vs Motilal Oswal Nifty MidSmall Financial Services Index: Portfolio Overlap
From each fund's latest monthly portfolio: ICICI Prudential BSE Insurance ETF, September 2026; Motilal Oswal Nifty MidSmall Financial Services Index Fund, September 2026
Holdings in common
- Overlap
- 14.5%
- Held by both
- 4
- Only in ICICI Prudential BSE Insurance ETF
- 9
- Only in Motilal Oswal Nifty MidSmall Financial Services Index
- 26
| Security | % of ICICI Prudential BSE Insurance ETF | % of Motilal Oswal Nifty MidSmall Financial Services Index |
|---|---|---|
| Life Insurance Corporation of India | 16.75% | 5.07% |
| ICICI Lombard General Insurance Company Ltd. | 11.83% | 3.92% |
| Max Financial Services Ltd. | 11.04% | 3.69% |
| ICICI Prudential Life Insurance Company Ltd. | 5.30% | 1.78% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 14.5% means 14.5% 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 ICICI Prudential BSE Insurance ETF
| Security | % of fund |
|---|---|
| SBI Life Insurance Company Ltd. | 23.29% |
| HDFC Life Insurance Company Ltd. | 16.87% |
| General Insurance Corporation of India | 4.09% |
| Star Health & Allied Insurance | 3.84% |
| Go Digit General Insurance Ltd | 1.98% |
Largest holdings only in Motilal Oswal Nifty MidSmall Financial Services Index Fund
| Security | % of fund |
|---|---|
| Multi Commodity Exchange of India Limited | 8.52% |
| The Federal Bank Limited | 7.93% |
| One 97 Communications Limited | 7.31% |
| IndusInd Bank Limited | 6.01% |
| AU Small Finance Bank Limited | 5.94% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | ICICI Prudential BSE Insurance ETF | Motilal Oswal Nifty MidSmall Financial Services Index |
|---|---|---|
| Equity | 100.0% | 100.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 0.0% | -0.0% |
Market cap of stocks
| Market cap | ICICI Prudential BSE Insurance ETF | Motilal Oswal Nifty MidSmall Financial Services Index |
|---|---|---|
| Large Cap | 56.9% | 8.0% |
| Mid Cap | 32.3% | 77.1% |
| Small Cap | 10.8% | 15.0% |
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 | ICICI Prudential BSE Insurance ETF | Motilal Oswal Nifty MidSmall Financial Services Index |
|---|---|---|
| Insurance | 100.0% | 14.5% |
| Banks | 0.0% | 35.3% |
| Capital Markets | 0.0% | 22.5% |
| Finance | 0.0% | 16.6% |
| Financial Technology (Fintech) | 0.0% | 11.1% |
The six largest sectors of each fund's stocks, % of the fund.
ICICI Prudential BSE Insurance ETF vs Motilal Oswal Nifty MidSmall Financial Services Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | ICICI Prudential BSE Insurance ETF | Motilal Oswal Nifty MidSmall Financial Services Index Fund |
|---|---|---|
| Total expense ratio (Direct) | Not available | 0.89% |
| Base expense ratio (Direct) | 0.00% | 0.55% |
| Total expense ratio (Regular) | Not available | 1.29% |
| Base expense ratio (Regular) | 0.35% | 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.
ICICI Prudential BSE Insurance ETF vs Motilal Oswal Nifty MidSmall Financial Services Index Fund: Frequently Asked Questions
What is the difference between ICICI Prudential BSE Insurance ETF and Motilal Oswal Nifty MidSmall Financial Services Index Fund?
ICICI Prudential BSE Insurance ETF is an ETF fund, Motilal Oswal Nifty MidSmall Financial Services Index Fund is a mutual fund, run by ICICI Prudential Mutual Fund and Motilal Oswal Mutual Fund. Their portfolios overlap 14.5%. ICICI Prudential BSE Insurance ETF charges 0.72% a year and Motilal Oswal Nifty MidSmall Financial Services Index Fund 0.89%.
Which has the lower expense ratio, ICICI Prudential BSE Insurance ETF or Motilal Oswal Nifty MidSmall Financial Services Index Fund?
ICICI Prudential BSE Insurance ETF charges less: 0.72% a year against 0.89%. These are the total expense ratios reported to AMFI.
How much do ICICI Prudential BSE Insurance ETF and Motilal Oswal Nifty MidSmall Financial Services Index Fund overlap?
14.5%. They hold 4 of the same securities, the largest shared ones being LICI, ICICIGI, MFSL. From each fund's latest monthly portfolio.
Can I invest in both ICICI Prudential BSE Insurance ETF and Motilal Oswal Nifty MidSmall Financial Services Index Fund?
Yes. 14.5% of each fund's money sits in the same holdings, so some of the two investments would move together.
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.