Mahindra Manulife Consumption Fund vs Motilal Oswal Consumption Fund
Direct Plan, Growth option · Data as on 30-10-2026
Mahindra Manulife Consumption Fund is a Thematic fund and Motilal Oswal Consumption Fund is a Thematic fund. In the year to 30-10-2026, Mahindra Manulife Consumption Fund (Direct) returned −11.3% and Motilal Oswal Consumption Fund (Direct) returned 9.5%. Mahindra Manulife Consumption Fund charges 1.09% a year and Motilal Oswal Consumption Fund 0.85% (Direct plans). Their portfolios overlap 34.8%: they hold 14 of the same securities.
Mahindra Manulife Consumption Fund
Thematic
- 1 year return
- −11.3%
- Expense ratio
- 1.09%
- NAV
- ₹23.52
Motilal Oswal Consumption Fund
Thematic
- 1 year return
- 9.5%
- Expense ratio
- 0.85%
- NAV
- ₹10.96
Which is better, Mahindra Manulife Consumption or Motilal Oswal Consumption? 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 Consumption returned more over 1 year: 9.5% against −11.3%.
- Motilal Oswal Consumption costs less: 0.85% a year against 1.09% (Direct plans).
- Mahindra Manulife Consumption fell less in its worst fall since 29-10-2025: −17.7% against −20.3%.
- Mahindra Manulife Consumption holds more in large companies: 60.0% of the fund in large caps against 25.5%.
- Motilal Oswal Consumption is the larger fund: ₹1,159 Cr against ₹453 Cr.
- Their portfolios overlap 34.8%: 14 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 | Mahindra Manulife Consumption Fund | Motilal Oswal Consumption Fund |
|---|---|---|
| Fund house | Mahindra Manulife Mutual Fund | Motilal Oswal Mutual Fund |
| Category | Thematic | Thematic |
| AUM | ₹453 Cr (30-09-2026) | ₹1,159 Cr (30-09-2026) |
| NAV | ₹23.52 (Direct) | ₹10.96 (Direct) |
| Expense ratio (Direct) | 1.09% | 0.85% |
| Expense ratio (Regular) | 2.66% | 2.34% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty India Consumption TRI | Nifty India Consumption TRI |
| Launch date | 13-11-2018 | 23-10-2025 |
| Minimum investment | ₹1,000 | ₹500 |
| Lock in | None | None |
| Fund managers | $ Mr. Navin Matta, $ Mr. Hemang Kapasi | Aliasgar Shakir, Varun Sharma, Rakesh Shetty, Swapnil Mayekar |
| Exit load | Exit load of 1%, if redeemed within 3 months. | 1% - If redeemed within 3 months from the day of allotment. Nil - If redeemed after 3 months from the date of allotment. |
Mahindra Manulife Consumption vs Motilal Oswal Consumption: 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 |
|---|---|---|---|---|---|---|---|
| Mahindra Manulife Consumption Fund (Direct) | −1.61% | −6.79% | −2.44% | −11.33% | +8.78% | +9.98% | -- |
| Motilal Oswal Consumption Fund (Direct) | −2.50% | +0.67% | +18.50% | +9.51% | -- | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | -- | -- | -- |
Category average: the average of the 235 Thematic funds, same plan type.
Mahindra Manulife Consumption vs Motilal Oswal Consumption: Year-wise Returns
| Year | Mahindra ManulifeMahindra Manulife Consumption | Motilal OswalMotilal Oswal Consumption | Nifty India Consumption TRI |
|---|---|---|---|
| 2026to date | −9.37% | +11.63% | −9.10% |
| 2025 | +3.05% | -- | +9.22% |
| 2024 | +23.44% | -- | +19.77% |
| 2023 | +29.08% | -- | +27.96% |
| 2022 | +9.53% | -- | +8.53% |
| 2021 | +24.56% | -- | +20.82% |
Mahindra Manulife Consumption vs Motilal Oswal Consumption: Rolling Returns
Every holding period of both funds, against Nifty India Consumption TRI, the benchmark of both
Mahindra Manulife Consumption vs Motilal Oswal Consumption: 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 01-10-2025 to 30-10-2026: 13 instalments, ₹1,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Mahindra Manulife ConsumptionMahindra Manulife Consumption Fund (Direct) | ₹1,30,000 | ₹1,24,006 | −₹5,994 | −7.9% |
| Motilal Oswal ConsumptionMotilal Oswal Consumption Fund (Regular) | ₹1,30,000 | ₹1,44,433 | ₹14,433 | 19.9% |
Mahindra Manulife ConsumptionMahindra Manulife Consumption Fund (Direct)
Motilal Oswal ConsumptionMotilal Oswal Consumption Fund (Regular)
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.
Mahindra Manulife Consumption vs Motilal Oswal Consumption: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Mahindra Manulife Consumption Fund (Direct) | Motilal Oswal Consumption Fund (Direct) |
|---|---|---|
| Return (CAGR) | −11.33% | +7.72% |
| Standard deviation | 14.32% | 17.53% |
| Sharpe ratio | -1.16 | 0.14 |
| Sortino ratio | -1.50 | 0.20 |
| Maximum drawdown | −17.4% (23-03-2026) | −20.3% (23-03-2026) |
| Beta | 0.92 | 0.97 |
| Alpha | −2.04% | +17.83% |
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 | Mahindra Manulife Consumption Fund (Direct) | Motilal Oswal Consumption Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.32% | +6.99% |
| Standard deviation | 15.71% | 17.53% |
| Sharpe ratio | 0.39 | 0.10 |
| Sortino ratio | 0.52 | 0.14 |
| Maximum drawdown | −34.0% (23-03-2020) | −20.3% (23-03-2026) |
| Beta | 0.90 | 0.97 |
| Alpha | −0.29% | +17.61% |
From daily NAVs, 16-11-2018 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.
Mahindra Manulife Consumption Fund (Direct)
Motilal Oswal Consumption Fund (Regular)
Nifty India Consumption TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Mahindra Manulife Consumption Fund (Direct) | −17.7% | 29-10-2025 | 23-03-2026 | Not yet | -- | −11.7% |
| Motilal Oswal Consumption Fund (Regular) | −20.3% | 04-11-2025 | 23-03-2026 | 02-07-2026 | 3 months | −5.6% |
| Nifty India Consumption TRI | −17.7% | 29-10-2025 | 30-03-2026 | Not yet | -- | −11.1% |
From daily values since 29-10-2025, 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.
Mahindra Manulife Consumption Fund (Direct)
Motilal Oswal Consumption Fund (Regular)
Nifty India Consumption TRI
Against Nifty India Consumption TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Mahindra Manulife Consumption Fund (Direct) | 75% | 86% | 3.96% |
| Motilal Oswal Consumption Fund (Regular) | 134% | 54% | 10.93% |
From month-end values since 29-10-2025. 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.
Mahindra Manulife Consumption vs Motilal Oswal Consumption: Portfolio Overlap
From each fund's latest monthly portfolio: Mahindra Manulife Consumption Fund, September 2026; Motilal Oswal Consumption Fund, September 2026
Holdings in common
- Overlap
- 34.8%
- Held by both
- 14
- Only in Mahindra Manulife Consumption
- 34
- Only in Motilal Oswal Consumption
- 20
| Security | % of Mahindra Manulife Consumption | % of Motilal Oswal Consumption |
|---|---|---|
| Bharti Airtel Limited | 6.72% | 6.91% |
| Eternal Limited | 6.73% | 5.60% |
| Mahindra & Mahindra Limited | 6.25% | 4.35% |
| TVS Motor Company Limited | 2.58% | 2.87% |
| Varun Beverages Ltd | 2.21% | 2.75% |
| Shaily Engineering Plastics Limited | 2.01% | 2.84% |
| Belrise Industries Ltd. | 1.92% | 3.05% |
| Radico Khaitan Limited | 2.41% | 1.58% |
| Britannia Industries Limited | 2.15% | 1.55% |
| Devyani International Limited | 1.49% | 1.56% |
| Hindustan Unilever Limited | 2.51% | 1.47% |
| Dixon Technologies (India) Limited | 1.45% | 1.47% |
| Kalyan Jewellers India Limited | 0.98% | 5.17% |
| Gabriel India Limited | 0.85% | 1.10% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 34.8% means 34.8% 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 Mahindra Manulife Consumption Fund
| Security | % of fund |
|---|---|
| Titan Company Limited | 4.47% |
| Bajaj Auto Limited | 3.84% |
| Trent Limited | 3.17% |
| ITC Limited | 3.06% |
| Maruti Suzuki India Limited | 2.87% |
Largest holdings only in Motilal Oswal Consumption Fund
| Security | % of fund |
|---|---|
| Sky Gold And Diamonds Limited | 5.63% |
| Healthcare Global Enterprises Limited | 4.89% |
| One 97 Communications Limited | 4.59% |
| Allied Blenders And Distillers Limited | 3.86% |
| SPR Auto Technologies Ltd | 3.54% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Mahindra Manulife Consumption | Motilal Oswal Consumption |
|---|---|---|
| Equity | 98.4% | 96.7% |
| Debt | 0.0% | 0.0% |
| Cash and others | 1.6% | 3.3% |
Market cap of stocks
| Market cap | Mahindra Manulife Consumption | Motilal Oswal Consumption |
|---|---|---|
| Large Cap | 60.0% | 25.5% |
| Mid Cap | 14.5% | 17.4% |
| Small Cap | 23.9% | 44.5% |
| Not on AMFI's list | 0.0% | 9.3% |
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 | Mahindra Manulife Consumption | Motilal Oswal Consumption |
|---|---|---|
| Consumer Durables | 14.6% | 17.3% |
| Automobiles | 17.1% | 7.2% |
| Retailing | 16.8% | 16.5% |
| Commercial Services & Supplies | 0.0% | 8.2% |
| Beverages | 6.5% | 8.2% |
| Telecom - Services | 8.1% | 6.9% |
| Auto Components | 3.7% | 7.7% |
| Diversified FMCG | 7.0% | 1.5% |
The six largest sectors of each fund's stocks, % of the fund.
Mahindra Manulife Consumption vs Motilal Oswal Consumption: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Mahindra Manulife Consumption Fund | Motilal Oswal Consumption Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.09% | 0.85% |
| Base expense ratio (Direct) | 0.73% | 0.48% |
| Total expense ratio (Regular) | 2.66% | 2.34% |
| Base expense ratio (Regular) | 2.10% | 1.89% |
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 Mahindra Manulife Consumption with
Compare Motilal Oswal Consumption with
Mahindra Manulife Consumption Fund vs Motilal Oswal Consumption Fund: Frequently Asked Questions
What is the difference between Mahindra Manulife Consumption Fund and Motilal Oswal Consumption Fund?
Mahindra Manulife Consumption Fund is a Thematic fund, Motilal Oswal Consumption Fund is a Thematic fund, run by Mahindra Manulife Mutual Fund and Motilal Oswal Mutual Fund. Their portfolios overlap 34.8%. Mahindra Manulife Consumption Fund charges 1.09% a year and Motilal Oswal Consumption Fund 0.85%.
Which has given higher returns, Mahindra Manulife Consumption Fund or Motilal Oswal Consumption Fund?
Over 1 year: Mahindra Manulife Consumption Fund −11.33%, Motilal Oswal Consumption Fund +9.51%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Mahindra Manulife Consumption Fund or Motilal Oswal Consumption Fund?
Motilal Oswal Consumption Fund charges less: 0.85% a year against 1.09%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Mahindra Manulife Consumption Fund and Motilal Oswal Consumption Fund overlap?
34.8%. They hold 14 of the same securities, the largest shared ones being BHARTIARTL, ETERNAL, M&M. From each fund's latest monthly portfolio.
Which is riskier, Mahindra Manulife Consumption Fund or Motilal Oswal Consumption Fund?
On SEBI's riskometer, Mahindra Manulife Consumption Fund is rated Very High and Motilal Oswal Consumption Fund Very High. Over 1 years, the standard deviation of daily returns was 14.32% and 17.53% a year.
Can I invest in both Mahindra Manulife Consumption Fund and Motilal Oswal Consumption Fund?
Yes. 34.8% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Mahindra Manulife Consumption Fund and Motilal Oswal Consumption Fund?
Mahindra Manulife Consumption Fund: $ Mr. Navin Matta, $ Mr. Hemang Kapasi. Motilal Oswal Consumption Fund: Aliasgar Shakir, 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.