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    ICICI Prudential Nifty 500 Index Fund vs Motilal Oswal Nifty 500 ETF

    Direct Plan where a fund has one, Growth option · Data as on 30-10-2026

    ICICI Prudential Nifty 500 Index Fund is an Index fund and Motilal Oswal Nifty 500 ETF is an ETF fund. In the year to 30-10-2026, ICICI Prudential Nifty 500 Index Fund (Direct) returned −7.9% and Motilal Oswal Nifty 500 ETF returned −7.5%. ICICI Prudential Nifty 500 Index Fund charges 0.46% a year and Motilal Oswal Nifty 500 ETF 0.39%. Their portfolios overlap 98.8%: they hold 496 of the same securities.

    ICICI Prudential Nifty 500 Index Fund

    Index

    1 year return
    −7.9%
    Expense ratio
    0.46%
    NAV
    ₹9.89
    See ICICI Prudential Nifty 500 Index Fund

    Motilal Oswal Nifty 500 ETF

    ETF

    1 year return
    −7.5%
    Expense ratio
    0.39%
    NAV
    ₹22.42
    See Motilal Oswal Nifty 500 ETF

    Which is better, ICICI Prudential Nifty 500 Index or Motilal Oswal Nifty 500 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 Nifty 500 ETF returned more over 1 year: −7.5% against −7.9%.
    • Motilal Oswal Nifty 500 ETF costs less: 0.39% a year against 0.46%.
    • Motilal Oswal Nifty 500 ETF fell less in its worst fall since 23-12-2024: −14.7% against −14.8%.
    • Motilal Oswal Nifty 500 ETF is the larger fund: ₹299 Cr against ₹102 Cr.
    • Their portfolios overlap 98.8%: 496 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

    FactICICI Prudential Nifty 500 Index FundMotilal Oswal Nifty 500 ETF
    Fund houseICICI Prudential Mutual FundMotilal Oswal Mutual Fund
    CategoryIndexETF
    AUM₹102 Cr (30-09-2026)₹299 Cr (30-09-2026)
    NAV₹9.89 (Direct)₹22.42
    Expense ratio (Direct)0.46%Not available
    Expense ratio (Regular)1.01%Not available
    RiskometerNot availableVery High
    BenchmarkNifty 500 TRINifty 500 TRI
    Launch date20-12-202429-09-2023
    Minimum investment₹100On 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 inNoneNone
    Fund managersNishit Patel, Ashwini Bharucha, Venus AhujaSwapnil Mayekar, Rakesh Shetty
    Exit loadNilNil

    ICICI Prudential Nifty 500 Index vs Motilal Oswal Nifty 500 ETF: Returns Comparison

    Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.

    Fund1M3M6M1Y3Y5Y10Y
    ICICI Prudential Nifty 500 Index Fund (Direct)−0.78%−6.22%−3.14%−7.92%------
    Motilal Oswal Nifty 500 ETF−0.76%−6.10%−2.94%−7.51%+9.98%----

    ICICI Prudential Nifty 500 Index vs Motilal Oswal Nifty 500 ETF: Year-wise Returns

    YearICICI Prudential Nifty 500 IndexICICI Prudential Nifty 500 IndexMotilal Oswal Nifty 500 ETFMotilal Oswal Nifty 500 ETFNifty 500 TRI
    2026to date−8.01%−7.67%−7.51%
    2025+7.36%+7.60%+7.76%
    2024--+15.93%+16.24%

    ICICI Prudential Nifty 500 Index vs Motilal Oswal Nifty 500 ETF: Rolling Returns

    Every holding period of both funds, against Nifty 500 TRI, the benchmark of both

    Rolling returns

    Every 1-year holding period, 209 of them, one for each trading day from 23-12-2025 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.

    −10%−5%0%5%10%15%20%
    Jan 2025
    to
    Jan 2026    Mar 2025
    to
    Mar 2026    May 2025
    to
    May 2026    Jun 2025
    to
    Jun 2026    Aug 2025
    to
    Aug 2026    Oct 2025
    to
    Oct 2026
    ICICI Prudential Nifty 500 Index Fund (Direct)Motilal Oswal Nifty 500 ETFNifty 500 TRI

    How the periods spread

    FundBelow 0%0-5%5-10%10-15%15-20%20-25%Above 25%MeanMedianLowestHighestBeat benchmark
    ICICI Prudential Nifty 500 Index34.928.225.89.61.40.00.02.9%2.1%−9.5%15.1%0%
    Motilal Oswal Nifty 500 ETF30.530.027.110.51.90.00.03.4%2.6%−9.1%15.8%0%
    Nifty 500 TRI28.231.627.89.62.90.00.03.5%2.7%−9.0%15.9%--

    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 500 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 23-12-2024. Past returns do not promise future returns.

    ICICI Prudential Nifty 500 Index vs Motilal Oswal Nifty 500 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

    Step up each year
    PeriodFor

    ₹10,000 on the first trading day of every month, from 23-12-2024 to 30-10-2026: 23 instalments, ₹2,30,000 in all.

    InvestmentInvestedValue nowGainReturn a year
    ICICI Prudential Nifty 500 IndexICICI Prudential Nifty 500 Index Fund (Direct) ₹2,30,000 ₹2,24,200 −₹5,800 −2.6%
    Motilal Oswal Nifty 500 ETFMotilal Oswal Nifty 500 ETF ₹2,30,000 ₹2,24,996 −₹5,004 −2.2%
    ₹0₹50,000₹1.0 L₹1.5 L₹2.0 L₹2.5 L
    20252026
    ICICI Prudential Nifty 500 IndexICICI Prudential Nifty 500 Index Fund (Direct)Motilal Oswal Nifty 500 ETFMotilal Oswal Nifty 500 ETFAmount 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 Nifty 500 Index vs Motilal Oswal Nifty 500 ETF: Risk and Drawdowns

    How much each fund swings, and the worst fall over the same days

    Risk and return

    MeasureICICI Prudential Nifty 500 Index Fund (Direct)Motilal Oswal Nifty 500 ETF
    Return (CAGR)−7.92%−7.51%
    Standard deviation14.31%14.51%
    Sharpe ratio-0.92-0.88
    Sortino ratio-1.22-1.17
    Maximum drawdown−14.8% (30-03-2026)−14.7% (31-03-2026)
    Beta1.001.00
    Alpha−0.64%−0.18%

    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.

    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.

    −15%−10%−5%0%
    20252026
    ICICI Prudential Nifty 500 Index Fund (Direct)Motilal Oswal Nifty 500 ETFNifty 500 TRI
    FundWorst fallHigh before itBottomBack at the highTime to climb backBelow its high today
    ICICI Prudential Nifty 500 Index Fund (Direct)−14.8%02-01-202630-03-2026Not yet--−8.9%
    Motilal Oswal Nifty 500 ETF−14.7%02-01-202631-03-2026Not yet--−8.5%
    Nifty 500 TRI−14.7%02-01-202630-03-2026Not yet--−8.4%

    From daily values since 23-12-2024, 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.

    0%5%10%15%
    2026
    ICICI Prudential Nifty 500 Index Fund (Direct)Motilal Oswal Nifty 500 ETFNifty 500 TRI

    Against Nifty 500 TRI

    FundUp captureDown captureTracking error
    ICICI Prudential Nifty 500 Index Fund (Direct)97%100%0.29%
    Motilal Oswal Nifty 500 ETF99%100%0.03%

    From month-end values since 23-12-2024. 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.

    ICICI Prudential Nifty 500 Index vs Motilal Oswal Nifty 500 ETF: Portfolio Overlap

    From each fund's latest monthly portfolio: ICICI Prudential Nifty 500 Index Fund, September 2026; Motilal Oswal Nifty 500 ETF, September 2026

    Holdings in common

    Overlap
    98.8%
    Held by both
    496
    Only in ICICI Prudential Nifty 500 Index
    3
    Only in Motilal Oswal Nifty 500 ETF
    1
    Security% of ICICI Prudential Nifty 500 Index% of Motilal Oswal Nifty 500 ETF
    HDFC Bank Ltd.5.66%5.66%
    ICICI Bank Ltd.4.94%4.93%
    Reliance Industries Ltd.4.14%4.13%
    Bharti Airtel Ltd.2.79%2.78%
    Larsen & Toubro Ltd.2.29%2.29%
    State Bank Of India2.07%2.06%
    Axis Bank Ltd.1.84%1.84%
    Infosys Ltd.1.83%1.83%
    Kotak Mahindra Bank Ltd.1.60%1.60%
    Mahindra & Mahindra Ltd.1.37%1.37%

    Overlap: for each holding both funds own, the smaller of its two weights, added up. 98.8% means 98.8% 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 ICICI Prudential Nifty 500 Index Fund

    Security% of fund
    EMBASSY OFFICE PARKS REIT0.20%
    Brookfield India Real Estate Trust REIT0.12%
    Bagmane Prime Office REIT0.03%

    Largest holdings only in Motilal Oswal Nifty 500 ETF

    Security% of fund
    MTAR Technologies Limited0.09%

    Asset and sector split

    Share of each fund, from its latest monthly portfolio

    Asset allocation

    AssetICICI Prudential Nifty 500 IndexMotilal Oswal Nifty 500 ETF
    Equity99.4%99.7%
    Debt0.0%0.0%
    Cash and others0.6%0.3%

    Market cap of stocks

    Market capICICI Prudential Nifty 500 IndexMotilal Oswal Nifty 500 ETF
    Large Cap67.2%67.1%
    Mid Cap20.8%20.9%
    Small Cap11.3%11.6%
    Not on AMFI's list0.1%0.1%

    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

    SectorICICI Prudential Nifty 500 IndexMotilal Oswal Nifty 500 ETF
    Banks19.4%19.3%
    Finance6.5%6.5%
    Pharmaceuticals & Biotechnology5.8%5.8%
    It - Software5.7%0.0%
    IT - Software0.0%5.7%
    Petroleum Products5.0%5.0%
    Automobiles4.9%4.9%

    The six largest sectors of each fund's stocks, % of the fund.

    ICICI Prudential Nifty 500 Index vs Motilal Oswal Nifty 500 ETF: Expense Ratio

    What each plan charges a year, from AMFI's expense ratio file

    ChargeICICI Prudential Nifty 500 Index FundMotilal Oswal Nifty 500 ETF
    Total expense ratio (Direct)0.46%Not available
    Base expense ratio (Direct)0.25%0.00%
    Total expense ratio (Regular)1.01%Not available
    Base expense ratio (Regular)0.72%0.18%

    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 Nifty 500 Index Fund vs Motilal Oswal Nifty 500 ETF: Frequently Asked Questions

    What is the difference between ICICI Prudential Nifty 500 Index Fund and Motilal Oswal Nifty 500 ETF?

    ICICI Prudential Nifty 500 Index Fund is an Index fund, Motilal Oswal Nifty 500 ETF is an ETF fund, run by ICICI Prudential Mutual Fund and Motilal Oswal Mutual Fund. Their portfolios overlap 98.8%. ICICI Prudential Nifty 500 Index Fund charges 0.46% a year and Motilal Oswal Nifty 500 ETF 0.39%.

    Which has given higher returns, ICICI Prudential Nifty 500 Index Fund or Motilal Oswal Nifty 500 ETF?

    Over 1 year: ICICI Prudential Nifty 500 Index Fund −7.92%, Motilal Oswal Nifty 500 ETF −7.51%. As on 30-10-2026. Past returns do not promise future returns.

    Which has the lower expense ratio, ICICI Prudential Nifty 500 Index Fund or Motilal Oswal Nifty 500 ETF?

    Motilal Oswal Nifty 500 ETF charges less: 0.39% a year against 0.46%. These are the total expense ratios reported to AMFI.

    How much do ICICI Prudential Nifty 500 Index Fund and Motilal Oswal Nifty 500 ETF overlap?

    98.8%. They hold 496 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, RELIANCE. From each fund's latest monthly portfolio.

    Can I invest in both ICICI Prudential Nifty 500 Index Fund and Motilal Oswal Nifty 500 ETF?

    Yes. 98.8% of each fund's money sits in the same holdings, so a large part of the two investments would move together.

    Who manages ICICI Prudential Nifty 500 Index Fund and Motilal Oswal Nifty 500 ETF?

    ICICI Prudential Nifty 500 Index Fund: Nishit Patel, Ashwini Bharucha, Venus Ahuja. Motilal Oswal Nifty 500 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.

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