Invesco India Mid cap Fund vs Motilal Oswal Midcap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Invesco India Mid cap Fund and Motilal Oswal Midcap Fund are both Mid Cap funds. In the 3 years to 30-10-2026, Invesco India Mid cap Fund (Direct) returned 21.8% a year and Motilal Oswal Midcap Fund (Direct) returned 9.3% a year. Invesco India Mid cap Fund charges 0.77% a year and Motilal Oswal Midcap Fund 0.92% (Direct plans). Their portfolios overlap 16.8%: they hold 9 of the same securities.
Invesco India Mid cap Fund
Mid Cap
- 3 year return
- 21.8%
- Expense ratio
- 0.77%
- NAV
- ₹223.87
Motilal Oswal Midcap Fund
Mid Cap
- 3 year return
- 9.3%
- Expense ratio
- 0.92%
- NAV
- ₹45.45
Which is better, Invesco India Mid cap 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.
- Invesco India Mid cap returned more over 5 years: 17.4% a year against 10.7%.
- Invesco India Mid cap returned more over 3 years: 21.8% a year against 9.3%.
- Invesco India Mid cap costs less: 0.77% a year against 0.92% (Direct plans).
- Invesco India Mid cap swung less over 3 years: a standard deviation of 17.1% a year against 18.6%.
- Invesco India Mid cap fell less in its worst fall since 25-02-2014: −34.1% against −48.9%.
- Motilal Oswal Midcap is the larger fund: ₹40,208 Cr against ₹15,749 Cr.
- Their portfolios overlap 16.8%: 9 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 | Invesco India Mid cap Fund | Motilal Oswal Midcap Fund |
|---|---|---|
| Fund house | Invesco Mutual Fund | Motilal Oswal Mutual Fund |
| Category | Mid Cap | Mid Cap |
| AUM | ₹15,749 Cr (30-09-2026) | ₹40,208 Cr (30-09-2026) |
| NAV | ₹223.87 (Direct) | ₹45.45 (Direct) |
| Expense ratio (Direct) | 0.77% | 0.92% |
| Expense ratio (Regular) | 1.87% | 1.63% |
| Riskometer | Very High | Very High |
| Benchmark | BSE Midcap 150 TRI | Nifty Midcap 150 TRI |
| Launch date | 19-04-2007 | 24-02-2014 |
| Minimum investment | Not available | ₹500 |
| Lock in | None | None |
| Fund managers | Aditya Khemani | Ajay Khandelwal, Ankit Agarwal, Varun Sharma, Rakesh Shetty, Swapnil Mayekar |
| Exit load | Exit load for units in excess of 10% of the investment, 1% will be charged for redemption within 1 year. | 1% - If redeemed on or before 365 days from the date of allotment. Nil - If redeemed after 365 days from the date of allotment. |
Invesco India Mid cap 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 |
|---|---|---|---|---|---|---|---|
| Invesco India Mid cap Fund (Direct) | −3.23% | −6.81% | +3.14% | −0.48% | +21.77% | +17.38% | +18.35% |
| 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.
Invesco India Mid cap vs Motilal Oswal Midcap: Year-wise Returns
| Year | Invesco India Mid capInvesco India Mid cap | Motilal Oswal MidcapMotilal Oswal Midcap |
|---|---|---|
| 2026to date | +1.00% | −8.77% |
| 2025 | +7.61% | −16.91% |
| 2024 | +44.96% | +48.57% |
| 2023 | +35.85% | +33.21% |
| 2022 | +1.98% | +4.51% |
| 2021 | +45.24% | +34.33% |
Invesco India Mid cap vs Motilal Oswal Midcap: Rolling Returns
Every holding period of both funds, against BSE 150 MidCap Index TRI, the benchmark of Invesco India Mid cap Fund
Rolling returns
Every 3-year holding period, 2,383 of them, one for each trading day from 27-02-2017 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.
Invesco India Mid cap Fund (Direct)
Motilal Oswal Midcap Fund (Direct)
BSE 150 MidCap Index TRI
to
Dec 2017Jul 2016
to
Jul 2019Mar 2018
to
Mar 2021Nov 2019
to
Nov 2022Jul 2021
to
Jul 2024Jan 2023
to
Jan 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Invesco India Mid cap | 0.4 | 2.9 | 8.7 | 16.2 | 15.4 | 19.3 | 37.0 | 20.3% | 22.0% | −1.7% | 35.2% | 58% |
| Motilal Oswal Midcap | 15.6 | 17.7 | 7.6 | 18.5 | 12.9 | 11.9 | 15.8 | 11.5% | 12.7% | −16.0% | 31.8% | 10% |
| BSE 150 MidCap Index TRI | 4.1 | 7.0 | 6.1 | 11.8 | 14.5 | 28.5 | 27.9 | 19.2% | 21.4% | −8.1% | 40.4% | -- |
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 150 MidCap 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 25-02-2014. Past returns do not promise future returns.
Invesco India Mid cap 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 03-02-2014 to 30-10-2026: 153 instalments, ₹15,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Invesco India Mid capInvesco India Mid cap Fund (Direct) | ₹15,30,000 | ₹58,15,054 | ₹42,85,054 | 19.3% |
| Motilal Oswal MidcapMotilal Oswal Midcap Fund (Direct) | ₹15,30,000 | ₹29,46,732 | ₹14,16,732 | 9.8% |
Invesco India Mid capInvesco India Mid cap Fund (Direct)
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.
Invesco India Mid cap vs Motilal Oswal Midcap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Invesco India Mid cap Fund (Direct) | Motilal Oswal Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −0.48% | −14.14% |
| Standard deviation | 17.52% | 19.23% |
| Sharpe ratio | -0.33 | -1.01 |
| Sortino ratio | -0.46 | -1.34 |
| Maximum drawdown | −16.7% (30-03-2026) | −28.4% (31-03-2026) |
| Beta | 1.01 | 0.98 |
| Alpha | +4.84% | −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 | Invesco India Mid cap Fund (Direct) | Motilal Oswal Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +21.77% | +9.27% |
| Standard deviation | 17.13% | 18.64% |
| Sharpe ratio | 0.92 | 0.17 |
| Sortino ratio | 1.29 | 0.23 |
| Maximum drawdown | −20.1% (28-02-2025) | −37.9% (31-03-2026) |
| Beta | 0.93 | 0.90 |
| Alpha | +8.73% | −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 | Invesco India Mid cap Fund (Direct) | Motilal Oswal Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +17.38% | +10.67% |
| Standard deviation | 16.18% | 18.02% |
| Sharpe ratio | 0.72 | 0.27 |
| Sortino ratio | 0.98 | 0.36 |
| Maximum drawdown | −20.1% (28-02-2025) | −37.9% (31-03-2026) |
| Beta | 0.91 | 0.87 |
| Alpha | +4.85% | −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 | Invesco India Mid cap Fund (Direct) | Motilal Oswal Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +20.14% | +12.67% |
| Standard deviation | 15.93% | 19.16% |
| Sharpe ratio | 0.88 | 0.36 |
| Sortino ratio | 1.19 | 0.46 |
| Maximum drawdown | −34.1% (23-03-2020) | −48.9% (23-03-2020) |
| Beta | 0.91 | -- |
| Alpha | +4.31% | -- |
From daily NAVs, 02-01-2013 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.
Invesco India Mid cap Fund (Direct)
Motilal Oswal Midcap Fund (Direct)
BSE 150 MidCap Index TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Invesco India Mid cap Fund (Direct) | −34.1% | 20-02-2020 | 23-03-2020 | 06-11-2020 | 7 months | −9.2% |
| Motilal Oswal Midcap Fund (Direct) | −48.9% | 05-01-2018 | 23-03-2020 | 14-09-2021 | 18 months | −25.6% |
| BSE 150 MidCap Index TRI | −42.7% | 08-01-2018 | 23-03-2020 | 20-11-2020 | 8 months | −10.6% |
From daily values since 25-02-2014, 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.
Invesco India Mid cap Fund (Direct)
Motilal Oswal Midcap Fund (Direct)
BSE 150 MidCap 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.
Invesco India Mid cap Fund (Direct)
Motilal Oswal Midcap Fund (Direct)
BSE 150 MidCap 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.
Invesco India Mid cap Fund (Direct)
Motilal Oswal Midcap Fund (Direct)
BSE 150 MidCap Index TRI
Against BSE 150 MidCap Index TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Invesco India Mid cap Fund (Direct) | 102% | 90% | 5.59% |
| Motilal Oswal Midcap Fund (Direct) | 89% | 105% | 11.20% |
From month-end values since 25-02-2014. 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.
Invesco India Mid cap vs Motilal Oswal Midcap: Portfolio Overlap
From each fund's latest monthly portfolio: Invesco India Mid cap Fund, September 2026; Motilal Oswal Midcap Fund, September 2026
Holdings in common
- Overlap
- 16.8%
- Held by both
- 9
- Only in Invesco India Mid cap
- 34
- Only in Motilal Oswal Midcap
- 21
| Security | % of Invesco India Mid cap | % of Motilal Oswal Midcap |
|---|---|---|
| Eternal Limited | 4.14% | 6.72% |
| Prestige Estates Projects Limited | 7.33% | 2.20% |
| L&T Finance Limited | 3.91% | 2.11% |
| BSE Limited | 3.06% | 1.75% |
| InterGlobe Aviation Limited | 2.92% | 1.75% |
| Max Healthcare Institute Limited | 7.21% | 1.33% |
| Dixon Technologies (India) Limited | 1.29% | 3.43% |
| Tube Investments Of India Limited | 1.23% | 2.43% |
| Billionbrains Garage Ventures Ltd | 1.02% | 3.50% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 16.8% means 16.8% 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 Invesco India Mid cap Fund
| Security | % of fund |
|---|---|
| Meesho Ltd | 5.42% |
| The Federal Bank Limited | 5.37% |
| Manipal Health Enterprises Ltd | 4.44% |
| Global Health Limited | 3.97% |
| AU Small Finance Bank Limited | 3.81% |
Largest holdings only in Motilal Oswal Midcap Fund
| Security | % of fund |
|---|---|
| One 97 Communications Limited | 8.64% |
| Kalyan Jewellers India Limited | 7.98% |
| Coforge Limited | 5.43% |
| Aditya Birla Capital Limited | 4.64% |
| Persistent Systems Ltd | 4.43% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Invesco India Mid cap | Motilal Oswal Midcap |
|---|---|---|
| Equity | 98.7% | 94.8% |
| Debt | 0.0% | 0.0% |
| Cash and others | 1.3% | 5.2% |
Market cap of stocks
| Market cap | Invesco India Mid cap | Motilal Oswal Midcap |
|---|---|---|
| Large Cap | 15.3% | 24.7% |
| Mid Cap | 61.0% | 65.1% |
| Small Cap | 17.9% | 5.0% |
| Not on AMFI's list | 4.6% | 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 | Invesco India Mid cap | Motilal Oswal Midcap |
|---|---|---|
| Healthcare Services | 17.2% | 1.3% |
| Retailing | 14.7% | 9.7% |
| Banks | 12.7% | 2.4% |
| Capital Markets | 4.2% | 11.6% |
| Consumer Durables | 3.9% | 11.4% |
| Financial Technology (Fintech) | 0.0% | 10.4% |
| Finance | 3.9% | 10.2% |
| IT - Software | 0.1% | 9.9% |
| Realty | 9.0% | 2.2% |
| Pharmaceuticals & Biotechnology | 7.0% | 0.0% |
| Auto Components | 5.0% | 4.7% |
The six largest sectors of each fund's stocks, % of the fund.
Invesco India Mid cap vs Motilal Oswal Midcap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Invesco India Mid cap Fund | Motilal Oswal Midcap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.77% | 0.92% |
| Base expense ratio (Direct) | 0.50% | 0.66% |
| Total expense ratio (Regular) | 1.87% | 1.63% |
| Base expense ratio (Regular) | 1.45% | 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
Compare Invesco India Mid cap with
Invesco India Mid cap Fund vs Motilal Oswal Midcap Fund: Frequently Asked Questions
What is the difference between Invesco India Mid cap Fund and Motilal Oswal Midcap Fund?
Both are Mid Cap funds, run by Invesco Mutual Fund and Motilal Oswal Mutual Fund. Their portfolios overlap 16.8%. Invesco India Mid cap Fund charges 0.77% a year and Motilal Oswal Midcap Fund 0.92%.
Which has given higher returns, Invesco India Mid cap Fund or Motilal Oswal Midcap Fund?
Over 1 year: Invesco India Mid cap Fund −0.48%, Motilal Oswal Midcap Fund −14.14%. Over 3 years: Invesco India Mid cap Fund +21.77% a year, Motilal Oswal Midcap Fund +9.27% a year. Over 5 years: Invesco India Mid cap Fund +17.38% 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, Invesco India Mid cap Fund or Motilal Oswal Midcap Fund?
Invesco India Mid cap Fund charges less: 0.77% a year against 0.92%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Invesco India Mid cap Fund and Motilal Oswal Midcap Fund overlap?
16.8%. They hold 9 of the same securities, the largest shared ones being ETERNAL, PRESTIGE, LTF. From each fund's latest monthly portfolio.
Which is riskier, Invesco India Mid cap Fund or Motilal Oswal Midcap Fund?
On SEBI's riskometer, Invesco India Mid cap Fund is rated Very High and Motilal Oswal Midcap Fund Very High. Over 3 years, the standard deviation of daily returns was 17.13% and 18.64% a year.
Which is better for SIP, Invesco India Mid cap Fund 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 ₹9,64,709 in Invesco India Mid cap Fund (XIRR 18.1% 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 Invesco India Mid cap Fund and Motilal Oswal Midcap Fund?
Yes. 16.8% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Invesco India Mid cap Fund and Motilal Oswal Midcap Fund?
Invesco India Mid cap Fund: Aditya Khemani. 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.