ICICI Prudential BSE Midcap Select ETF vs Motilal Oswal Midcap Fund
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
ICICI Prudential BSE Midcap Select ETF is an ETF fund and Motilal Oswal Midcap Fund is a Mid Cap fund. In the 3 years to 30-10-2026, ICICI Prudential BSE Midcap Select ETF returned 15.3% a year and Motilal Oswal Midcap Fund (Direct) returned 9.3% a year. ICICI Prudential BSE Midcap Select ETF charges 0.25% a year and Motilal Oswal Midcap Fund 0.92%. Their portfolios overlap 31.4%: they hold 10 of the same securities.
ICICI Prudential BSE Midcap Select ETF
ETF
- 3 year return
- 15.3%
- Expense ratio
- 0.25%
- NAV
- ₹18.15
Motilal Oswal Midcap Fund
Mid Cap
- 3 year return
- 9.3%
- Expense ratio
- 0.92%
- NAV
- ₹45.45
Which is better, ICICI Prudential BSE Midcap Select ETF or Motilal Oswal Midcap? 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 Midcap Select ETF returned more over 5 years: 11.6% a year against 10.7%.
- ICICI Prudential BSE Midcap Select ETF returned more over 3 years: 15.3% a year against 9.3%.
- ICICI Prudential BSE Midcap Select ETF costs less: 0.25% a year against 0.92%.
- ICICI Prudential BSE Midcap Select ETF swung less over 3 years: a standard deviation of 18.5% a year against 18.6%.
- ICICI Prudential BSE Midcap Select ETF fell less in its worst fall since 05-07-2016: −46.7% against −48.9%.
- Motilal Oswal Midcap holds more in large companies: 24.7% of the fund in large caps against 0.0%.
- Motilal Oswal Midcap is the larger fund: ₹40,208 Cr against ₹112 Cr.
- Their portfolios overlap 31.4%: 10 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 Midcap Select ETF | Motilal Oswal Midcap Fund |
|---|---|---|
| Fund house | ICICI Prudential Mutual Fund | Motilal Oswal Mutual Fund |
| Category | ETF | Mid Cap |
| AUM | ₹112 Cr (30-09-2026) | ₹40,208 Cr (30-09-2026) |
| NAV | ₹18.15 | ₹45.45 (Direct) |
| Expense ratio (Direct) | Not available | 0.92% |
| Expense ratio (Regular) | Not available | 1.63% |
| Riskometer | Not available | Very High |
| Benchmark | BSE Midcap Select TRI | Nifty Midcap 150 TRI |
| Launch date | 04-07-2016 | 24-02-2014 |
| 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 | ₹500 |
| Lock in | None | None |
| Fund managers | Nishit Patel, Ajaykumar Solanki, Ashwini Bharucha, Venus Ahuja | Ajay Khandelwal, Ankit Agarwal, Varun Sharma, Rakesh Shetty, Swapnil Mayekar |
| Exit load | Nil | 1% - If redeemed on or before 365 days from the date of allotment. Nil - If redeemed after 365 days from the date of allotment. |
ICICI Prudential BSE Midcap Select ETF vs Motilal Oswal Midcap: 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 Midcap Select ETF | −1.98% | −6.75% | +1.99% | −1.63% | +15.31% | +11.56% | +12.17% |
| Motilal Oswal Midcap Fund (Direct) | −2.56% | −3.38% | +6.27% | −14.14% | +9.27% | +10.67% | +7.45% |
| Mid Cap average | −3.36% | −6.03% | −0.14% | −2.17% | +14.75% | +12.95% | +14.07% |
Category average: the average of the 34 Mid Cap funds, same plan type.
ICICI Prudential BSE Midcap Select ETF vs Motilal Oswal Midcap: Year-wise Returns
| Year | ICICI Prudential BSE Midcap Select ETFICICI Prudential BSE Midcap Select ETF | Motilal Oswal MidcapMotilal Oswal Midcap |
|---|---|---|
| 2026to date | −1.82% | −8.77% |
| 2025 | +0.48% | −16.91% |
| 2024 | +31.97% | +48.57% |
| 2023 | +39.36% | +33.21% |
| 2022 | −3.54% | +4.51% |
| 2021 | +32.52% | +34.33% |
ICICI Prudential BSE Midcap Select ETF vs Motilal Oswal Midcap: Rolling Returns
Every holding period of both funds, against BSE MidCap Select Index TRI, the benchmark of ICICI Prudential BSE Midcap Select ETF
Rolling returns
Every 3-year holding period, 1,807 of them, one for each trading day from 05-07-2019 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.
ICICI Prudential BSE Midcap Select ETF
Motilal Oswal Midcap Fund (Direct)
BSE MidCap Select Index TRI
to
Feb 2020May 2018
to
May 2021Aug 2019
to
Aug 2022Oct 2020
to
Oct 2023Jan 2022
to
Jan 2025Mar 2023
to
Mar 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ICICI Prudential BSE Midcap Select ETF | 10.2 | 6.8 | 9.0 | 11.8 | 27.2 | 31.9 | 3.2 | 14.6% | 17.6% | −10.8% | 29.6% | 0% |
| Motilal Oswal Midcap | 19.6 | 10.2 | 4.8 | 20.2 | 12.9 | 14.4 | 17.8 | 12.2% | 13.5% | −16.0% | 31.8% | 33% |
| BSE MidCap Select Index TRI | 10.0 | 6.3 | 9.4 | 10.7 | 25.5 | 33.9 | 4.3 | 15.0% | 18.0% | −10.5% | 30.2% | -- |
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 BSE MidCap Select Index 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 05-07-2016. Past returns do not promise future returns.
ICICI Prudential BSE Midcap Select ETF vs Motilal Oswal Midcap: 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 05-07-2016 to 30-10-2026: 124 instalments, ₹12,40,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| ICICI Prudential BSE Midcap Select ETFICICI Prudential BSE Midcap Select ETF | ₹12,40,000 | ₹25,67,309 | ₹13,27,309 | 13.5% |
| Motilal Oswal MidcapMotilal Oswal Midcap Fund (Direct) | ₹12,40,000 | ₹21,22,482 | ₹8,82,482 | 10.0% |
ICICI Prudential BSE Midcap Select ETFICICI Prudential BSE Midcap Select ETF
Motilal Oswal MidcapMotilal Oswal Midcap 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.
ICICI Prudential BSE Midcap Select ETF vs Motilal Oswal Midcap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | ICICI Prudential BSE Midcap Select ETF | Motilal Oswal Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −1.63% | −14.14% |
| Standard deviation | 18.27% | 19.23% |
| Sharpe ratio | -0.38 | -1.01 |
| Sortino ratio | -0.51 | -1.34 |
| Maximum drawdown | −17.2% (31-03-2026) | −28.4% (31-03-2026) |
| Beta | 1.00 | 0.98 |
| Alpha | −0.14% | −9.98% |
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 | ICICI Prudential BSE Midcap Select ETF | Motilal Oswal Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.32% | +9.27% |
| Standard deviation | 18.50% | 18.64% |
| Sharpe ratio | 0.50 | 0.17 |
| Sortino ratio | 0.69 | 0.23 |
| Maximum drawdown | −22.4% (07-04-2025) | −37.9% (31-03-2026) |
| Beta | 1.00 | 0.90 |
| Alpha | −0.27% | −3.73% |
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.
| Measure | ICICI Prudential BSE Midcap Select ETF | Motilal Oswal Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.56% | +10.67% |
| Standard deviation | 18.01% | 18.02% |
| Sharpe ratio | 0.32 | 0.27 |
| Sortino ratio | 0.43 | 0.36 |
| Maximum drawdown | −22.4% (07-04-2025) | −37.9% (31-03-2026) |
| Beta | 1.00 | 0.87 |
| Alpha | −0.26% | −2.14% |
From daily NAVs, 29-10-2021 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 | ICICI Prudential BSE Midcap Select ETF | Motilal Oswal Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.22% | +12.67% |
| Standard deviation | 18.72% | 19.16% |
| Sharpe ratio | 0.42 | 0.36 |
| Sortino ratio | 0.56 | 0.46 |
| Maximum drawdown | −46.7% (23-03-2020) | −48.9% (23-03-2020) |
| Beta | 0.99 | -- |
| Alpha | −0.43% | -- |
From daily NAVs, 05-07-2016 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 Midcap Select ETF
Motilal Oswal Midcap Fund (Direct)
BSE MidCap Select Index TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| ICICI Prudential BSE Midcap Select ETF | −46.7% | 08-01-2018 | 23-03-2020 | 04-01-2021 | 9 months | −9.9% |
| Motilal Oswal Midcap Fund (Direct) | −48.9% | 05-01-2018 | 23-03-2020 | 14-09-2021 | 18 months | −25.6% |
| BSE MidCap Select Index TRI | −46.7% | 08-01-2018 | 23-03-2020 | 01-01-2021 | 9 months | −9.9% |
From daily values since 05-07-2016, 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.
ICICI Prudential BSE Midcap Select ETF
Motilal Oswal Midcap Fund (Direct)
BSE MidCap Select Index TRI
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.
ICICI Prudential BSE Midcap Select ETF
Motilal Oswal Midcap Fund (Direct)
BSE MidCap Select Index TRI
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 5-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
ICICI Prudential BSE Midcap Select ETF
Motilal Oswal Midcap Fund (Direct)
BSE MidCap Select Index TRI
Against BSE MidCap Select Index TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| ICICI Prudential BSE Midcap Select ETF | 99% | 100% | 0.35% |
| Motilal Oswal Midcap Fund (Direct) | 87% | 98% | 11.40% |
From month-end values since 05-07-2016. 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.
ICICI Prudential BSE Midcap Select ETF vs Motilal Oswal Midcap: Portfolio Overlap
From each fund's latest monthly portfolio: ICICI Prudential BSE Midcap Select ETF, September 2026; Motilal Oswal Midcap Fund, September 2026
Holdings in common
- Overlap
- 31.4%
- Held by both
- 10
- Only in ICICI Prudential BSE Midcap Select ETF
- 20
- Only in Motilal Oswal Midcap
- 20
| Security | % of ICICI Prudential BSE Midcap Select ETF | % of Motilal Oswal Midcap |
|---|---|---|
| One 97 Communications Ltd | 5.40% | 8.64% |
| COFORGE Ltd. | 4.54% | 5.43% |
| Persistent Systems Ltd. | 4.31% | 4.43% |
| Multi Commodity Exchange Of India Ltd. | 6.31% | 3.74% |
| Dixon Technologies (India) Ltd. | 4.09% | 3.43% |
| IDFC First Bank Ltd. | 4.06% | 2.40% |
| KEI Industries Ltd. | 2.05% | 4.27% |
| Suzlon Energy Ltd. | 3.58% | 1.91% |
| Tube Investments of India Ltd. | 1.89% | 2.43% |
| PB Fintech Ltd. | 2.85% | 1.72% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 31.4% means 31.4% 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 Midcap Select ETF
| Security | % of fund |
|---|---|
| The Federal Bank Ltd. | 5.89% |
| Laurus Labs Ltd. | 5.78% |
| AU Small Finance Bank Ltd. | 4.28% |
| Bharat Forge Ltd. | 3.86% |
| Aurobindo Pharma Ltd. | 3.45% |
Largest holdings only in Motilal Oswal Midcap Fund
| Security | % of fund |
|---|---|
| Kalyan Jewellers India Limited | 7.98% |
| Eternal Limited | 6.72% |
| Aditya Birla Capital Limited | 4.64% |
| Sterlite Technologies Limited | 4.40% |
| Billionbrains Garage Ventures Ltd | 3.50% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | ICICI Prudential BSE Midcap Select ETF | Motilal Oswal Midcap |
|---|---|---|
| Equity | 100.0% | 94.8% |
| Debt | 0.0% | 0.0% |
| Cash and others | 0.0% | 5.2% |
Market cap of stocks
| Market cap | ICICI Prudential BSE Midcap Select ETF | Motilal Oswal Midcap |
|---|---|---|
| Large Cap | 0.0% | 24.7% |
| Mid Cap | 100.0% | 65.1% |
| Small Cap | 0.0% | 5.0% |
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 Midcap Select ETF | Motilal Oswal Midcap |
|---|---|---|
| Banks | 17.0% | 2.4% |
| Pharmaceuticals & Biotechnology | 14.1% | 0.0% |
| Capital Markets | 6.3% | 11.6% |
| Consumer Durables | 5.9% | 11.4% |
| It - Software | 11.0% | 0.0% |
| Financial Technology (Fintech) | 8.3% | 10.4% |
| Finance | 2.3% | 10.2% |
| IT - Software | 0.0% | 9.9% |
| Retailing | 3.3% | 9.7% |
The six largest sectors of each fund's stocks, % of the fund.
ICICI Prudential BSE Midcap Select ETF vs Motilal Oswal Midcap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | ICICI Prudential BSE Midcap Select ETF | Motilal Oswal Midcap Fund |
|---|---|---|
| Total expense ratio (Direct) | Not available | 0.92% |
| Base expense ratio (Direct) | 0.00% | 0.66% |
| Total expense ratio (Regular) | Not available | 1.63% |
| Base expense ratio (Regular) | 0.13% | 1.30% |
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
ICICI Prudential BSE Midcap Select ETF vs Motilal Oswal Midcap Fund: Frequently Asked Questions
What is the difference between ICICI Prudential BSE Midcap Select ETF and Motilal Oswal Midcap Fund?
ICICI Prudential BSE Midcap Select ETF is an ETF fund, Motilal Oswal Midcap Fund is a Mid Cap fund, run by ICICI Prudential Mutual Fund and Motilal Oswal Mutual Fund. Their portfolios overlap 31.4%. ICICI Prudential BSE Midcap Select ETF charges 0.25% a year and Motilal Oswal Midcap Fund 0.92%.
Which has given higher returns, ICICI Prudential BSE Midcap Select ETF or Motilal Oswal Midcap Fund?
Over 1 year: ICICI Prudential BSE Midcap Select ETF −1.63%, Motilal Oswal Midcap Fund −14.14%. Over 3 years: ICICI Prudential BSE Midcap Select ETF +15.31% a year, Motilal Oswal Midcap Fund +9.27% a year. Over 5 years: ICICI Prudential BSE Midcap Select ETF +11.56% a year, Motilal Oswal Midcap Fund +10.67% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, ICICI Prudential BSE Midcap Select ETF or Motilal Oswal Midcap Fund?
ICICI Prudential BSE Midcap Select ETF charges less: 0.25% a year against 0.92%. These are the total expense ratios reported to AMFI.
How much do ICICI Prudential BSE Midcap Select ETF and Motilal Oswal Midcap Fund overlap?
31.4%. They hold 10 of the same securities, the largest shared ones being PAYTM, COFORGE, PERSISTENT. From each fund's latest monthly portfolio.
Which is better for SIP, ICICI Prudential BSE Midcap Select ETF or Motilal Oswal Midcap Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹8,27,569 in ICICI Prudential BSE Midcap Select ETF (XIRR 12.0% a year) and ₹7,33,308 in Motilal Oswal Midcap Fund (XIRR 7.2% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both ICICI Prudential BSE Midcap Select ETF and Motilal Oswal Midcap Fund?
Yes. 31.4% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages ICICI Prudential BSE Midcap Select ETF and Motilal Oswal Midcap Fund?
ICICI Prudential BSE Midcap Select ETF: Nishit Patel, Ajaykumar Solanki, Ashwini Bharucha, Venus Ahuja. Motilal Oswal Midcap Fund: Ajay Khandelwal, Ankit Agarwal, Varun Sharma, Rakesh Shetty, 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.