Mirae Asset BSE India Defence ETF vs Motilal Oswal Nifty India Defence Index Fund
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
Mirae Asset BSE India Defence ETF is an ETF fund and Motilal Oswal Nifty India Defence Index Fund is a mutual fund. Mirae Asset BSE India Defence ETF charges 0.64% a year and Motilal Oswal Nifty India Defence Index Fund 0.56%. Their portfolios overlap 72.6%: they hold 20 of the same securities.
Mirae Asset BSE India Defence ETF
ETF
- Expense ratio
- 0.64%
- NAV
- ₹72.90
Motilal Oswal Nifty India Defence Index Fund
- Expense ratio
- 0.56%
- NAV
- ₹11.40
Which is better, Mirae Asset BSE India Defence ETF 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 costs less: 0.56% a year against 0.64%.
- Motilal Oswal Nifty India Defence Index fell less in its worst fall since 16-02-2026: −15.4% against −15.4%.
- Motilal Oswal Nifty India Defence Index is the larger fund: ₹5,434 Cr against ₹183 Cr.
- Their portfolios overlap 72.6%: 20 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 | Mirae Asset BSE India Defence ETF | Motilal Oswal Nifty India Defence Index Fund |
|---|---|---|
| Fund house | Mirae Asset Mutual Fund | Motilal Oswal Mutual Fund |
| Category | ETF | Not available |
| AUM | ₹183 Cr (30-09-2026) | ₹5,434 Cr (30-09-2026) |
| NAV | ₹72.90 | ₹11.40 (Direct) |
| Expense ratio (Direct) | Not available | 0.56% |
| Expense ratio (Regular) | Not available | 1.13% |
| Riskometer | Very High | Not available |
| Benchmark | BSE India Defence TRI (Total Return Index) | Not available |
| Launch date | 13-02-2026 | Not available |
| Minimum investment | On exchange in multiple of 1 unit. With AMC: In multiples of 5,000 units | Not available |
| Lock in | None | Not available |
| Fund managers | Ekta Gala, amp, Vishal Singh | Not available |
| Exit load | NIL | Not available |
Mirae Asset BSE India Defence ETF 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 |
|---|---|---|---|---|---|---|---|
| Mirae Asset BSE India Defence ETF | −5.75% | −5.43% | −1.24% | -- | -- | -- | -- |
| Motilal Oswal Nifty India Defence Index Fund (Direct) | −6.26% | −5.37% | −3.16% | +8.00% | -- | -- | -- |
Mirae Asset BSE India Defence ETF vs Motilal Oswal Nifty India Defence Index: Year-wise Returns
| Year | Mirae Asset BSE India Defence ETFMirae Asset BSE India Defence ETF | Motilal Oswal Nifty India Defence IndexMotilal Oswal Nifty India Defence Index |
|---|---|---|
| 2026to date | -- | +12.30% |
| 2025 | -- | +19.56% |
Mirae Asset BSE India Defence ETF vs Motilal Oswal Nifty India Defence Index: Rolling Returns
Every holding period of both funds, against BSE India Defence TRI, the benchmark of Mirae Asset BSE India Defence ETF
Mirae Asset BSE India Defence ETF 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 | Mirae Asset BSE India Defence ETF | Motilal Oswal Nifty India Defence Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.51% | +2.60% |
| Standard deviation | 24.02% | 27.57% |
| Sharpe ratio | 0.30 | -0.12 |
| Sortino ratio | 0.41 | -0.16 |
| Maximum drawdown | −15.4% (31-03-2026) | −38.2% (18-02-2025) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.38% | −0.57% |
From daily NAVs, 16-02-2026 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.
Mirae Asset BSE India Defence ETF
Motilal Oswal Nifty India Defence Index Fund (Direct)
BSE India Defence TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Mirae Asset BSE India Defence ETF | −15.4% | 06-03-2026 | 31-03-2026 | 15-04-2026 | 15 days | −12.9% |
| Motilal Oswal Nifty India Defence Index Fund (Direct) | −15.4% | 06-03-2026 | 31-03-2026 | 15-04-2026 | 15 days | −13.1% |
| BSE India Defence TRI | −15.4% | 06-03-2026 | 30-03-2026 | 15-04-2026 | 16 days | −12.9% |
From daily values since 16-02-2026, the first day every fund has.
Mirae Asset BSE India Defence ETF vs Motilal Oswal Nifty India Defence Index: Portfolio Overlap
From each fund's latest monthly portfolio: Mirae Asset BSE India Defence ETF, September 2026; Motilal Oswal Nifty India Defence Index Fund, September 2026
Holdings in common
- Overlap
- 72.6%
- Held by both
- 20
- Only in Mirae Asset BSE India Defence ETF
- 13
- Only in Motilal Oswal Nifty India Defence Index
- 2
| Security | % of Mirae Asset BSE India Defence ETF | % of Motilal Oswal Nifty India Defence Index |
|---|---|---|
| Bharat Electronics Ltd. | 15.45% | 19.97% |
| Hindustan Aeronautics Ltd. | 14.96% | 19.68% |
| Solar Industries India Ltd. | 13.29% | 11.91% |
| Mazagon Dock Shipbuilders Ltd. | 4.51% | 3.98% |
| Astra Microwave Products Ltd. | 3.85% | 3.44% |
| Data Patterns (India) Ltd. | 3.48% | 3.23% |
| Cochin Shipyard Ltd. | 3.09% | 3.16% |
| Bharat Forge Ltd. | 3.01% | 13.28% |
| Bharat Dynamics Ltd. | 2.83% | 2.54% |
| Zen Technologies Ltd. | 2.06% | 1.84% |
| Apollo Micro Systems Ltd. | 1.84% | 1.64% |
| Garden Reach Shipbuilders & Engineers Ltd. | 1.74% | 1.59% |
| Paras Defence And Space Technologies Ltd. | 1.30% | 1.16% |
| Aequs Ltd. | 1.99% | 1.14% |
| AXISCADES Technologies Ltd. | 1.11% | 0.99% |
| MTAR technologies Ltd. | 0.98% | 4.21% |
| Mishra Dhatu Nigam Ltd. | 0.60% | 0.53% |
| BEML Ltd. | 0.45% | 1.89% |
| Unimech Aerospace and Manufacturing Ltd. | 0.49% | 0.38% |
| Dynamatic Technologies Ltd. | 0.31% | 1.33% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 72.6% means 72.6% 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 Mirae Asset BSE India Defence ETF
| Security | % of fund |
|---|---|
| Larsen & Toubro Ltd. | 5.13% |
| Mahindra & Mahindra Ltd. | 5.02% |
| Adani Enterprises Ltd. | 5.02% |
| Ashok Leyland Ltd. | 2.54% |
| Cyient DLM Ltd. | 0.97% |
Largest holdings only in Motilal Oswal Nifty India Defence Index Fund
| Security | % of fund |
|---|---|
| Centum Electronics Limited | 0.92% |
| Sigma Advanced Systems Limited | 0.48% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Mirae Asset BSE India Defence ETF | Motilal Oswal Nifty India Defence Index |
|---|---|---|
| Equity | 100.0% | 99.3% |
| Debt | 0.0% | 0.0% |
| Cash and others | -0.0% | 0.7% |
Market cap of stocks
| Market cap | Mirae Asset BSE India Defence ETF | Motilal Oswal Nifty India Defence Index |
|---|---|---|
| Large Cap | 58.9% | 51.6% |
| Mid Cap | 16.0% | 23.0% |
| Small Cap | 25.2% | 24.8% |
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 | Mirae Asset BSE India Defence ETF | Motilal Oswal Nifty India Defence Index |
|---|---|---|
| Aerospace & Defense | 53.5% | 59.5% |
| Chemicals & Petrochemicals | 13.3% | 11.9% |
| Auto Components | 3.4% | 13.3% |
| Industrial Manufacturing | 8.6% | 8.5% |
| Construction | 5.1% | 0.0% |
| Automobiles | 5.0% | 0.0% |
| Metals & Minerals Trading | 5.0% | 0.0% |
| Electrical Equipment | 1.0% | 4.2% |
| Agricultural, Commercial & Construction Vehicles | 3.0% | 1.9% |
The six largest sectors of each fund's stocks, % of the fund.
Mirae Asset BSE India Defence ETF vs Motilal Oswal Nifty India Defence Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Mirae Asset BSE India Defence ETF | Motilal Oswal Nifty India Defence Index Fund |
|---|---|---|
| Total expense ratio (Direct) | Not available | 0.56% |
| Base expense ratio (Direct) | 0.00% | 0.40% |
| Total expense ratio (Regular) | Not available | 1.13% |
| Base expense ratio (Regular) | 0.28% | 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.
Mirae Asset BSE India Defence ETF vs Motilal Oswal Nifty India Defence Index Fund: Frequently Asked Questions
What is the difference between Mirae Asset BSE India Defence ETF and Motilal Oswal Nifty India Defence Index Fund?
Mirae Asset BSE India Defence ETF is an ETF fund, Motilal Oswal Nifty India Defence Index Fund is a mutual fund, run by Mirae Asset Mutual Fund and Motilal Oswal Mutual Fund. Their portfolios overlap 72.6%. Mirae Asset BSE India Defence ETF charges 0.64% a year and Motilal Oswal Nifty India Defence Index Fund 0.56%.
Which has the lower expense ratio, Mirae Asset BSE India Defence ETF or Motilal Oswal Nifty India Defence Index Fund?
Motilal Oswal Nifty India Defence Index Fund charges less: 0.56% a year against 0.64%. These are the total expense ratios reported to AMFI.
How much do Mirae Asset BSE India Defence ETF and Motilal Oswal Nifty India Defence Index Fund overlap?
72.6%. They hold 20 of the same securities, the largest shared ones being BEL, HAL, SOLARINDS. From each fund's latest monthly portfolio.
Can I invest in both Mirae Asset BSE India Defence ETF and Motilal Oswal Nifty India Defence Index Fund?
Yes. 72.6% of each fund's money sits in the same holdings, so a large part 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.