Mirae Asset Flexi Cap Fund vs Motilal Oswal Nifty 100 ETF
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
Mirae Asset Flexi Cap Fund is a Flexi Cap fund and Motilal Oswal Nifty 100 ETF is an ETF fund. In the year to 30-10-2026, Mirae Asset Flexi Cap Fund (Direct) returned −3.2% and Motilal Oswal Nifty 100 ETF returned −9.1%. Mirae Asset Flexi Cap Fund charges 0.74% a year and Motilal Oswal Nifty 100 ETF 0.68%. Their portfolios overlap 48.4%: they hold 41 of the same securities.
Mirae Asset Flexi Cap Fund
Flexi Cap
- 1 year return
- −3.2%
- Expense ratio
- 0.74%
- NAV
- ₹16.38
Motilal Oswal Nifty 100 ETF
ETF
- 1 year return
- −9.1%
- Expense ratio
- 0.68%
- NAV
- ₹24.13
Which is better, Mirae Asset Flexi Cap or Motilal Oswal Nifty 100 ETF? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Mirae Asset Flexi Cap returned more over 1 year: −3.2% against −9.1%.
- Motilal Oswal Nifty 100 ETF costs less: 0.68% a year against 0.74%.
- Mirae Asset Flexi Cap fell less in its worst fall since 16-10-2025: −13.7% against −15.0%.
- Motilal Oswal Nifty 100 ETF holds more in large companies: 98.0% of the fund in large caps against 61.0%.
- Mirae Asset Flexi Cap is the larger fund: ₹4,369 Cr against ₹16 Cr.
- Their portfolios overlap 48.4%: 41 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 Flexi Cap Fund | Motilal Oswal Nifty 100 ETF |
|---|---|---|
| Fund house | Mirae Asset Mutual Fund | Motilal Oswal Mutual Fund |
| Category | Flexi Cap | ETF |
| AUM | ₹4,369 Cr (30-09-2026) | ₹16 Cr (30-09-2026) |
| NAV | ₹16.38 (Direct) | ₹24.13 |
| Expense ratio (Direct) | 0.74% | Not available |
| Expense ratio (Regular) | 2.11% | Not available |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | Nifty 100 TRI |
| Launch date | 24-02-2023 | 16-10-2025 |
| Minimum investment | ₹5,000 | Ongoing Basis: On Exchange: Investors can buy/sell units of the Scheme in round lots of 1 unit and in multiples thereof. Directly with the Mutual Fund: For Eligible investors: Transactions must be in multiple of unit creation size and the execution value |
| Lock in | None | None |
| Fund managers | Varun Goel | Swapnil Mayekar, Dishant Mehta, Rakesh Shetty |
| Exit load | Exit Load for units in excess of 15% of the investment,1% will be charged for redemption within 1 year. | Nil |
Mirae Asset Flexi Cap vs Motilal Oswal Nifty 100 ETF: 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 Flexi Cap Fund (Direct) | −0.84% | −3.12% | −0.09% | −3.21% | +12.30% | -- | -- |
| Motilal Oswal Nifty 100 ETF | +1.00% | −5.44% | −3.26% | −9.06% | -- | -- | -- |
| Flexi Cap average | −1.62% | −4.17% | +1.00% | −3.58% | +12.37% | -- | -- |
Category average: the average of the 46 Flexi Cap funds, same plan type.
Mirae Asset Flexi Cap vs Motilal Oswal Nifty 100 ETF: Year-wise Returns
| Year | Mirae Asset Flexi CapMirae Asset Flexi Cap | Motilal Oswal Nifty 100 ETFMotilal Oswal Nifty 100 ETF |
|---|---|---|
| 2026to date | −4.81% | −9.75% |
| 2025 | +10.44% | -- |
| 2024 | +19.05% | -- |
Mirae Asset Flexi Cap vs Motilal Oswal Nifty 100 ETF: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of Mirae Asset Flexi Cap Fund
Mirae Asset Flexi Cap vs Motilal Oswal Nifty 100 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
₹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 |
|---|---|---|---|---|
| Mirae Asset Flexi CapMirae Asset Flexi Cap Fund (Direct) | ₹1,30,000 | ₹1,28,057 | −₹1,943 | −2.6% |
| Motilal Oswal Nifty 100 ETFMotilal Oswal Nifty 100 ETF | ₹1,30,000 | ₹1,23,641 | −₹6,359 | −8.4% |
Mirae Asset Flexi CapMirae Asset Flexi Cap Fund (Direct)
Motilal Oswal Nifty 100 ETFMotilal Oswal Nifty 100 ETF
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.
Mirae Asset Flexi Cap vs Motilal Oswal Nifty 100 ETF: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Mirae Asset Flexi Cap Fund (Direct) | Motilal Oswal Nifty 100 ETF |
|---|---|---|
| Return (CAGR) | −3.21% | −9.06% |
| Standard deviation | 13.91% | 14.04% |
| Sharpe ratio | -0.61 | -1.02 |
| Sortino ratio | -0.82 | -1.35 |
| Maximum drawdown | −13.7% (30-03-2026) | −15.0% (31-03-2026) |
| Beta | 0.95 | 1.00 |
| Alpha | +3.55% | −0.38% |
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 | Mirae Asset Flexi Cap Fund (Direct) | Motilal Oswal Nifty 100 ETF |
|---|---|---|
| Return (CAGR) | +14.39% | −7.74% |
| Standard deviation | 13.21% | 13.84% |
| Sharpe ratio | 0.62 | -0.94 |
| Sortino ratio | 0.85 | -1.25 |
| Maximum drawdown | −16.1% (07-04-2025) | −15.0% (31-03-2026) |
| Beta | 0.96 | 1.00 |
| Alpha | +1.76% | −0.41% |
From daily NAVs, 27-02-2023 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.
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 Flexi Cap Fund (Direct)
Motilal Oswal Nifty 100 ETF
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Mirae Asset Flexi Cap Fund (Direct) | −13.7% | 02-01-2026 | 30-03-2026 | Not yet | -- | −5.5% |
| Motilal Oswal Nifty 100 ETF | −15.0% | 02-01-2026 | 31-03-2026 | Not yet | -- | −10.5% |
| Nifty 500 TRI | −14.7% | 02-01-2026 | 30-03-2026 | Not yet | -- | −8.4% |
From daily values since 16-10-2025, 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.
Mirae Asset Flexi Cap Fund (Direct)
Motilal Oswal Nifty 100 ETF
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Mirae Asset Flexi Cap Fund (Direct) | 101% | 83% | 2.84% |
| Motilal Oswal Nifty 100 ETF | 84% | 97% | 3.06% |
From month-end values since 16-10-2025. 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.
Mirae Asset Flexi Cap vs Motilal Oswal Nifty 100 ETF: Portfolio Overlap
From each fund's latest monthly portfolio: Mirae Asset Flexi Cap Fund, September 2026; Motilal Oswal Nifty 100 ETF, September 2026
Holdings in common
- Overlap
- 48.4%
- Held by both
- 41
- Only in Mirae Asset Flexi Cap
- 46
- Only in Motilal Oswal Nifty 100 ETF
- 59
| Security | % of Mirae Asset Flexi Cap | % of Motilal Oswal Nifty 100 ETF |
|---|---|---|
| ICICI Bank Ltd. | 5.38% | 7.34% |
| HDFC Bank Ltd. | 5.37% | 8.41% |
| Reliance Industries Ltd. | 3.79% | 6.15% |
| State Bank of India | 2.44% | 3.07% |
| Axis Bank Ltd. | 2.29% | 2.73% |
| Bharti Airtel Ltd. | 2.09% | 4.14% |
| Larsen & Toubro Ltd. | 1.95% | 3.41% |
| Mahindra & Mahindra Ltd. | 1.81% | 2.04% |
| Tata Consultancy Services Ltd. | 1.45% | 1.62% |
| Infosys Ltd. | 1.42% | 2.72% |
| Eternal Ltd. | 1.15% | 1.80% |
| Bajaj Finance Ltd. | 1.10% | 2.03% |
| Adani Ports and Special Economic Zone Ltd. | 1.46% | 1.09% |
| Ultratech Cement Ltd. | 1.13% | 1.01% |
| BSE Ltd. | 1.24% | 0.98% |
| Titan Company Ltd. | 0.92% | 1.47% |
| Divi's Laboratories Ltd. | 1.04% | 0.92% |
| Shriram Finance Ltd. | 0.89% | 1.07% |
| ITC Ltd. | 0.86% | 1.96% |
| Maruti Suzuki India Ltd. | 0.82% | 1.21% |
| Bharat Electronics Ltd. | 0.80% | 1.08% |
| TVS Motor Company Ltd. | 1.28% | 0.75% |
| Tech Mahindra Ltd. | 1.20% | 0.75% |
| Kotak Mahindra Bank Ltd. | 0.72% | 2.38% |
| Hindustan Aeronautics Ltd. | 0.89% | 0.69% |
| Trent Ltd. | 0.98% | 0.68% |
| Oil & Natural Gas Corporation Ltd. | 0.60% | 0.68% |
| Sun Pharmaceutical Industries Ltd. | 0.59% | 1.49% |
| SBI Life Insurance Co. Ltd. | 1.38% | 0.59% |
| Vedanta Aluminium Metal Ltd. | 0.82% | 0.54% |
| Cummins India Ltd. | 1.01% | 0.50% |
| Tata Consumer Products Ltd. | 0.61% | 0.48% |
| Bharat Petroleum Corporation Ltd. | 0.71% | 0.47% |
| CG Power and Industrial Solutions Ltd. | 1.49% | 0.45% |
| Interglobe Aviation Ltd. | 0.44% | 0.87% |
| Britannia Industries Ltd. | 0.94% | 0.44% |
| Vedanta Ltd. | 0.78% | 0.35% |
| Jindal Steel Ltd. | 1.04% | 0.33% |
| DLF Ltd. | 0.85% | 0.33% |
| Pidilite Industries Ltd. | 0.16% | 0.35% |
| Solar Industries India Ltd. | 0.02% | 0.37% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 48.4% means 48.4% 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 Flexi Cap Fund
| Security | % of fund |
|---|---|
| Lenskart Solutions Ltd. | 1.72% |
| Multi Commodity Exchange of India Ltd. | 1.68% |
| The Phoenix Mills Ltd. | 1.62% |
| Indus Towers Ltd. | 1.61% |
| Engineers India Ltd. | 1.51% |
Largest holdings only in Motilal Oswal Nifty 100 ETF
| Security | % of fund |
|---|---|
| Hindustan Unilever Limited | 1.29% |
| NTPC Limited | 1.19% |
| Tata Steel Limited | 1.18% |
| Hindalco Industries Limited | 1.06% |
| HCL Technologies Limited | 1.00% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Mirae Asset Flexi Cap | Motilal Oswal Nifty 100 ETF |
|---|---|---|
| Equity | 99.7% | 100.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 0.3% | -0.0% |
Market cap of stocks
| Market cap | Mirae Asset Flexi Cap | Motilal Oswal Nifty 100 ETF |
|---|---|---|
| Large Cap | 61.0% | 98.0% |
| Mid Cap | 19.2% | 2.0% |
| Small Cap | 14.5% | 0.0% |
| Not on AMFI's list | 5.0% | 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 | Mirae Asset Flexi Cap | Motilal Oswal Nifty 100 ETF |
|---|---|---|
| Banks | 16.2% | 25.1% |
| Capital Markets | 7.4% | 1.3% |
| Pharmaceuticals & Biotechnology | 7.0% | 4.3% |
| Petroleum Products | 4.5% | 7.0% |
| IT - Software | 4.1% | 6.7% |
| Automobiles | 3.9% | 6.4% |
| Finance | 5.3% | 6.2% |
| Telecom - Services | 3.7% | 4.4% |
| Consumer Durables | 4.3% | 2.3% |
The six largest sectors of each fund's stocks, % of the fund.
Mirae Asset Flexi Cap vs Motilal Oswal Nifty 100 ETF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Mirae Asset Flexi Cap Fund | Motilal Oswal Nifty 100 ETF |
|---|---|---|
| Total expense ratio (Direct) | 0.74% | Not available |
| Base expense ratio (Direct) | 0.46% | 0.00% |
| Total expense ratio (Regular) | 2.11% | Not available |
| Base expense ratio (Regular) | 1.62% | 0.45% |
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
Mirae Asset Flexi Cap Fund vs Motilal Oswal Nifty 100 ETF: Frequently Asked Questions
What is the difference between Mirae Asset Flexi Cap Fund and Motilal Oswal Nifty 100 ETF?
Mirae Asset Flexi Cap Fund is a Flexi Cap fund, Motilal Oswal Nifty 100 ETF is an ETF fund, run by Mirae Asset Mutual Fund and Motilal Oswal Mutual Fund. Their portfolios overlap 48.4%. Mirae Asset Flexi Cap Fund charges 0.74% a year and Motilal Oswal Nifty 100 ETF 0.68%.
Which has given higher returns, Mirae Asset Flexi Cap Fund or Motilal Oswal Nifty 100 ETF?
Over 1 year: Mirae Asset Flexi Cap Fund −3.21%, Motilal Oswal Nifty 100 ETF −9.06%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Mirae Asset Flexi Cap Fund or Motilal Oswal Nifty 100 ETF?
Motilal Oswal Nifty 100 ETF charges less: 0.68% a year against 0.74%. These are the total expense ratios reported to AMFI.
How much do Mirae Asset Flexi Cap Fund and Motilal Oswal Nifty 100 ETF overlap?
48.4%. They hold 41 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, RELIANCE. From each fund's latest monthly portfolio.
Which is riskier, Mirae Asset Flexi Cap Fund or Motilal Oswal Nifty 100 ETF?
On SEBI's riskometer, Mirae Asset Flexi Cap Fund is rated Very High and Motilal Oswal Nifty 100 ETF Very High. Over 1 years, the standard deviation of daily returns was 13.91% and 14.04% a year.
Can I invest in both Mirae Asset Flexi Cap Fund and Motilal Oswal Nifty 100 ETF?
Yes. 48.4% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Mirae Asset Flexi Cap Fund and Motilal Oswal Nifty 100 ETF?
Mirae Asset Flexi Cap Fund: Varun Goel. Motilal Oswal Nifty 100 ETF: Swapnil Mayekar, Dishant Mehta, 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.