Invesco India PSU Equity Fund vs Motilal Oswal Nifty India Defence Index Fund
Direct Plan, Growth option · Data as on 30-10-2026
Invesco India PSU Equity Fund is a Thematic fund and Motilal Oswal Nifty India Defence Index Fund is a mutual fund. In the year to 30-10-2026, Invesco India PSU Equity Fund (Direct) returned −9.4% and Motilal Oswal Nifty India Defence Index Fund (Direct) returned 8.0%. Invesco India PSU Equity Fund charges 1.23% a year and Motilal Oswal Nifty India Defence Index Fund 0.56% (Direct plans). Their portfolios overlap 20.1%: they hold 5 of the same securities.
Invesco India PSU Equity Fund
Thematic
- 1 year return
- −9.4%
- Expense ratio
- 1.23%
- NAV
- ₹71.51
Motilal Oswal Nifty India Defence Index Fund
- 1 year return
- 8.0%
- Expense ratio
- 0.56%
- NAV
- ₹11.40
Which is better, Invesco India PSU Equity or Motilal Oswal Nifty India Defence Index? 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 India Defence Index returned more over 1 year: 8.0% against −9.4%.
- Motilal Oswal Nifty India Defence Index costs less: 0.56% a year against 1.23% (Direct plans).
- Invesco India PSU Equity fell less in its worst fall since 09-07-2024: −29.8% against −38.2%.
- Motilal Oswal Nifty India Defence Index is the larger fund: ₹5,434 Cr against ₹1,361 Cr.
- Their portfolios overlap 20.1%: 5 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 PSU Equity Fund | Motilal Oswal Nifty India Defence Index Fund |
|---|---|---|
| Fund house | Invesco Mutual Fund | Motilal Oswal Mutual Fund |
| Category | Thematic | Not available |
| AUM | ₹1,361 Cr (30-09-2026) | ₹5,434 Cr (30-09-2026) |
| NAV | ₹71.51 (Direct) | ₹11.40 (Direct) |
| Expense ratio (Direct) | 1.23% | 0.56% |
| Expense ratio (Regular) | 2.41% | 1.13% |
| Riskometer | Very High | Not available |
| Benchmark | BSE PSU TRI | Not available |
| Launch date | 18-11-2009 | Not available |
| Minimum investment | Not available | Not available |
| Lock in | None | Not available |
| Fund managers | Hiten Jain, Sagar Gandhi | Not available |
| Exit load | Exit load for units in excess of 10% of the investment, 1% will be charged for redemption within 1 year. | Not available |
Invesco India PSU Equity vs Motilal Oswal Nifty India Defence 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 |
|---|---|---|---|---|---|---|---|
| Invesco India PSU Equity Fund (Direct) | −3.83% | −7.59% | −11.28% | −9.40% | +17.36% | +18.62% | +15.26% |
| Motilal Oswal Nifty India Defence Index Fund (Direct) | −6.26% | −5.37% | −3.16% | +8.00% | -- | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | +13.76% | +11.62% | +13.76% |
Category average: the average of the 235 Thematic funds, same plan type.
Invesco India PSU Equity vs Motilal Oswal Nifty India Defence Index: Year-wise Returns
| Year | Invesco India PSU EquityInvesco India PSU Equity | Motilal Oswal Nifty India Defence IndexMotilal Oswal Nifty India Defence Index |
|---|---|---|
| 2026to date | −9.44% | +12.30% |
| 2025 | +11.65% | +19.56% |
| 2024 | +27.29% | -- |
| 2023 | +56.64% | -- |
| 2022 | +22.23% | -- |
| 2021 | +32.94% | -- |
Invesco India PSU Equity vs Motilal Oswal Nifty India Defence Index: Rolling Returns
Every holding period of both funds, against BSE PSU TRI, the benchmark of Invesco India PSU Equity Fund
Rolling returns
Every 1-year holding period, 322 of them, one for each trading day from 09-07-2025 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.
Invesco India PSU Equity Fund (Direct)
Motilal Oswal Nifty India Defence Index Fund (Direct)
BSE PSU TRI
to
Aug 2025Nov 2024
to
Nov 2025Jan 2025
to
Jan 2026Apr 2025
to
Apr 2026Jul 2025
to
Jul 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Invesco India PSU Equity | 29.2 | 21.7 | 20.2 | 8.4 | 8.7 | 4.7 | 7.1 | 6.3% | 4.8% | −11.8% | 38.9% | 34% |
| Motilal Oswal Nifty India Defence Index | 0.6 | 6.5 | 19.3 | 14.0 | 13.4 | 10.6 | 35.7 | 20.5% | 19.0% | −0.1% | 59.7% | 91% |
| BSE PSU TRI | 28.0 | 9.6 | 18.9 | 20.2 | 5.6 | 8.4 | 9.3 | 8.3% | 8.4% | −15.2% | 42.6% | -- |
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 PSU 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 09-07-2024. Past returns do not promise future returns.
Invesco India PSU Equity vs Motilal Oswal Nifty India Defence Index: 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 01-07-2024 to 30-10-2026: 28 instalments, ₹2,80,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Invesco India PSU EquityInvesco India PSU Equity Fund (Direct) | ₹2,80,000 | ₹2,66,713 | −₹13,287 | −4.0% |
| Motilal Oswal Nifty India Defence IndexMotilal Oswal Nifty India Defence Index Fund (Direct) | ₹2,80,000 | ₹3,21,452 | ₹41,452 | 11.9% |
Invesco India PSU EquityInvesco India PSU Equity Fund (Direct)
Motilal Oswal Nifty India Defence IndexMotilal Oswal Nifty India Defence Index 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 PSU Equity vs Motilal Oswal Nifty India Defence Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Invesco India PSU Equity Fund (Direct) | Motilal Oswal Nifty India Defence Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | −9.40% | +8.00% |
| Standard deviation | 17.84% | 24.62% |
| Sharpe ratio | -0.82 | 0.11 |
| Sortino ratio | -1.08 | 0.16 |
| Maximum drawdown | −14.8% (23-10-2026) | −15.4% (31-03-2026) |
| Beta | 1.05 | 1.00 |
| Alpha | −3.51% | −0.66% |
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 PSU Equity Fund (Direct) | Motilal Oswal Nifty India Defence Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +14.97% | +2.60% |
| Standard deviation | 19.33% | 27.57% |
| Sharpe ratio | 0.46 | -0.12 |
| Sortino ratio | 0.62 | -0.16 |
| Maximum drawdown | −33.4% (24-03-2020) | −38.2% (18-02-2025) |
| Beta | 0.85 | 1.00 |
| Alpha | +5.25% | −0.57% |
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 PSU Equity Fund (Direct)
Motilal Oswal Nifty India Defence Index Fund (Direct)
BSE PSU TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Invesco India PSU Equity Fund (Direct) | −29.8% | 15-07-2024 | 28-02-2025 | Not yet | -- | −13.9% |
| Motilal Oswal Nifty India Defence Index Fund (Direct) | −38.2% | 11-07-2024 | 18-02-2025 | 16-05-2025 | 3 months | −13.1% |
| BSE PSU TRI | −29.0% | 31-07-2024 | 28-02-2025 | 09-02-2026 | 11 months | −14.8% |
From daily values since 09-07-2024, 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.
Invesco India PSU Equity Fund (Direct)
Motilal Oswal Nifty India Defence Index Fund (Direct)
BSE PSU TRI
Against BSE PSU TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Invesco India PSU Equity Fund (Direct) | 98% | 99% | 4.76% |
| Motilal Oswal Nifty India Defence Index Fund (Direct) | 171% | 111% | 20.19% |
From month-end values since 09-07-2024. 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.
Invesco India PSU Equity vs Motilal Oswal Nifty India Defence Index: Portfolio Overlap
From each fund's latest monthly portfolio: Invesco India PSU Equity Fund, September 2026; Motilal Oswal Nifty India Defence Index Fund, September 2026
Holdings in common
- Overlap
- 20.1%
- Held by both
- 5
- Only in Invesco India PSU Equity
- 25
- Only in Motilal Oswal Nifty India Defence Index
- 17
| Security | % of Invesco India PSU Equity | % of Motilal Oswal Nifty India Defence Index |
|---|---|---|
| Hindustan Aeronautics Limited | 8.96% | 19.68% |
| Bharat Electronics Limited | 5.71% | 19.97% |
| Bharat Dynamics Limited | 3.85% | 2.54% |
| BEML Limited | 3.91% | 1.89% |
| Mazagon Dock Shipbuilders Limited | 0.96% | 3.98% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 20.1% means 20.1% 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 PSU Equity Fund
| Security | % of fund |
|---|---|
| State Bank of India | 7.46% |
| Indian Bank | 5.93% |
| Dredging Corporation of India Limited | 5.82% |
| Bharat Petroleum Corporation Limited | 4.54% |
| Container Corporation of India Limited | 4.07% |
Largest holdings only in Motilal Oswal Nifty India Defence Index Fund
| Security | % of fund |
|---|---|
| Bharat Forge Limited | 13.28% |
| Solar Industries India Limited | 11.91% |
| MTAR Technologies Limited | 4.21% |
| Astra Microwave Products Limited | 3.44% |
| Data Patterns (India) Limited | 3.23% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Invesco India PSU Equity | Motilal Oswal Nifty India Defence Index |
|---|---|---|
| Equity | 97.1% | 99.3% |
| Debt | 0.0% | 0.0% |
| Cash and others | 2.9% | 0.7% |
Market cap of stocks
| Market cap | Invesco India PSU Equity | Motilal Oswal Nifty India Defence Index |
|---|---|---|
| Large Cap | 50.8% | 51.6% |
| Mid Cap | 20.2% | 23.0% |
| Small Cap | 23.9% | 24.8% |
| Not on AMFI's list | 2.3% | 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 PSU Equity | Motilal Oswal Nifty India Defence Index |
|---|---|---|
| Aerospace & Defense | 18.5% | 59.5% |
| Banks | 16.7% | 0.0% |
| Auto Components | 0.0% | 13.3% |
| Chemicals & Petrochemicals | 2.3% | 11.9% |
| Industrial Manufacturing | 7.3% | 8.5% |
| Petroleum Products | 7.0% | 0.0% |
| Engineering Services | 5.8% | 0.0% |
| Power | 4.8% | 0.0% |
| Electrical Equipment | 4.3% | 4.2% |
| Agricultural, Commercial & Construction Vehicles | 3.9% | 1.9% |
The six largest sectors of each fund's stocks, % of the fund.
Invesco India PSU Equity vs Motilal Oswal Nifty India Defence Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Invesco India PSU Equity Fund | Motilal Oswal Nifty India Defence Index Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.23% | 0.56% |
| Base expense ratio (Direct) | 0.83% | 0.40% |
| Total expense ratio (Regular) | 2.41% | 1.13% |
| Base expense ratio (Regular) | 1.85% | 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.
More comparisons
Each fund against the others of its category
Compare Invesco India PSU Equity with
Invesco India PSU Equity Fund vs Motilal Oswal Nifty India Defence Index Fund: Frequently Asked Questions
What is the difference between Invesco India PSU Equity Fund and Motilal Oswal Nifty India Defence Index Fund?
Invesco India PSU Equity Fund is a Thematic fund, Motilal Oswal Nifty India Defence Index Fund is a mutual fund, run by Invesco Mutual Fund and Motilal Oswal Mutual Fund. Their portfolios overlap 20.1%. Invesco India PSU Equity Fund charges 1.23% a year and Motilal Oswal Nifty India Defence Index Fund 0.56%.
Which has given higher returns, Invesco India PSU Equity Fund or Motilal Oswal Nifty India Defence Index Fund?
Over 1 year: Invesco India PSU Equity Fund −9.40%, Motilal Oswal Nifty India Defence Index Fund +8.00%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Invesco India PSU Equity Fund or Motilal Oswal Nifty India Defence Index Fund?
Motilal Oswal Nifty India Defence Index Fund charges less: 0.56% a year against 1.23%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Invesco India PSU Equity Fund and Motilal Oswal Nifty India Defence Index Fund overlap?
20.1%. They hold 5 of the same securities, the largest shared ones being HAL, BEL, BDL. From each fund's latest monthly portfolio.
Can I invest in both Invesco India PSU Equity Fund and Motilal Oswal Nifty India Defence Index Fund?
Yes. 20.1% 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.