Mirae Asset Nifty India Internet ETF vs UTI Innovation Fund
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
Mirae Asset Nifty India Internet ETF is an ETF fund and UTI Innovation Fund is a Thematic fund. In the year to 30-10-2026, Mirae Asset Nifty India Internet ETF returned −11.6% and UTI Innovation Fund (Direct) returned −9.5%. Mirae Asset Nifty India Internet ETF charges 0.47% a year and UTI Innovation Fund 1.26%. Their portfolios overlap 42.7%: they hold 11 of the same securities.
Mirae Asset Nifty India Internet ETF
ETF
- 1 year return
- −11.6%
- Expense ratio
- 0.47%
- NAV
- ₹13.19
Which is better, Mirae Asset Nifty India Internet ETF or UTI Innovation? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- UTI Innovation returned more over 1 year: −9.5% against −11.6%.
- Mirae Asset Nifty India Internet ETF costs less: 0.47% a year against 1.26%.
- UTI Innovation fell less in its worst fall since 02-07-2025: −25.8% against −28.3%.
- Mirae Asset Nifty India Internet ETF holds more in large companies: 24.9% of the fund in large caps against 13.7%.
- UTI Innovation is the larger fund: ₹768 Cr against ₹36 Cr.
- Their portfolios overlap 42.7%: 11 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 Nifty India Internet ETF | UTI Innovation Fund |
|---|---|---|
| Fund house | Mirae Asset Mutual Fund | UTI Mutual Fund |
| Category | ETF | Thematic |
| AUM | ₹36 Cr (30-09-2026) | ₹768 Cr (30-09-2026) |
| NAV | ₹13.19 | ₹11.19 (Direct) |
| Expense ratio (Direct) | Not available | 1.26% |
| Expense ratio (Regular) | Not available | 2.43% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty India Internet TRI | Nifty 500 TRI |
| Launch date | 01-07-2025 | 13-10-2023 |
| Minimum investment | On exchange in multiple of 1 unit. With AMC: In multiples of 5,000 units | REGULAR PLAN-GROWTH:5000 , DIRECT PLAN-GROWTH:5000, REGULAR PLAN-PAYOUT OF IDCW:5000, DIRECT PLAN-PAYOUT OF IDCW:5000 |
| Lock in | None | None |
| Fund managers | Ekta Gala, amp, Vishal Singh | Nitin Jain FM 1 |
| Exit load | NIL | 1% if redeemed/switched out within 12 months from the date of allotment, Nil thereafter. |
Mirae Asset Nifty India Internet ETF vs UTI Innovation: 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 Nifty India Internet ETF | −2.32% | −3.29% | +8.98% | −11.63% | -- | -- | -- |
| UTI Innovation Fund (Direct) | −1.91% | −4.29% | +3.52% | −9.51% | +3.91% | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | +13.76% | -- | -- |
Category average: the average of the 235 Thematic funds, same plan type.
Mirae Asset Nifty India Internet ETF vs UTI Innovation: Year-wise Returns
| Year | Mirae Asset Nifty India Internet ETFMirae Asset Nifty India Internet ETF | UTI InnovationUTI Innovation |
|---|---|---|
| 2026to date | −5.89% | −5.63% |
| 2025 | -- | −6.47% |
| 2024 | -- | +20.12% |
Mirae Asset Nifty India Internet ETF vs UTI Innovation: Rolling Returns
Every holding period of both funds, against Nifty India Internet TRI, the benchmark of Mirae Asset Nifty India Internet ETF
Rolling returns
Every 1-year holding period, 82 of them, one for each trading day from 02-07-2026 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.
Mirae Asset Nifty India Internet ETF
UTI Innovation Fund (Direct)
Nifty India Internet TRI
to
Jul 2026Aug 2025
to
Aug 2026Aug 2025
to
Aug 2026Sept 2025
to
Sept 2026Oct 2025
to
Oct 2026Oct 2025
to
Oct 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mirae Asset Nifty India Internet ETF | 64.6 | 35.4 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | −2.2% | −0.7% | −12.2% | 4.9% | 1% |
| UTI Innovation | 58.5 | 41.5 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | −1.6% | −0.8% | −11.8% | 5.0% | 65% |
| Nifty India Internet TRI | 59.8 | 39.0 | 1.2 | 0.0 | 0.0 | 0.0 | 0.0 | −2.0% | −0.4% | −12.0% | 5.2% | -- |
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 Nifty India Internet 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 02-07-2025. Past returns do not promise future returns.
Mirae Asset Nifty India Internet ETF vs UTI Innovation: 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 02-07-2025 to 30-10-2026: 16 instalments, ₹1,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Mirae Asset Nifty India Internet ETFMirae Asset Nifty India Internet ETF | ₹1,60,000 | ₹1,59,296 | −₹704 | −0.6% |
| UTI InnovationUTI Innovation Fund (Direct) | ₹1,60,000 | ₹1,57,684 | −₹2,316 | −2.1% |
Mirae Asset Nifty India Internet ETFMirae Asset Nifty India Internet ETF
UTI InnovationUTI Innovation 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.
Mirae Asset Nifty India Internet ETF vs UTI Innovation: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Mirae Asset Nifty India Internet ETF | UTI Innovation Fund (Direct) |
|---|---|---|
| Return (CAGR) | −11.63% | −9.51% |
| Standard deviation | 22.73% | 19.38% |
| Sharpe ratio | -0.74 | -0.76 |
| Sortino ratio | -1.00 | -1.02 |
| Maximum drawdown | −27.9% (30-03-2026) | −25.7% (23-03-2026) |
| Beta | 1.00 | 1.13 |
| Alpha | −0.23% | −0.48% |
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 Nifty India Internet ETF | UTI Innovation Fund (Direct) |
|---|---|---|
| Return (CAGR) | −1.23% | +3.71% |
| Standard deviation | 21.46% | 18.01% |
| Sharpe ratio | -0.30 | -0.13 |
| Sortino ratio | -0.42 | -0.18 |
| Maximum drawdown | −28.3% (30-03-2026) | −31.5% (23-03-2026) |
| Beta | 1.00 | 1.04 |
| Alpha | −0.25% | −5.44% |
From daily NAVs, 02-07-2025 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.
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 Nifty India Internet ETF
UTI Innovation Fund (Direct)
Nifty India Internet TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Mirae Asset Nifty India Internet ETF | −28.3% | 28-10-2025 | 30-03-2026 | 23-09-2026 | 6 months | −12.3% |
| UTI Innovation Fund (Direct) | −25.8% | 18-09-2025 | 23-03-2026 | 20-08-2026 | 5 months | −10.5% |
| Nifty India Internet TRI | −28.2% | 28-10-2025 | 30-03-2026 | 23-09-2026 | 6 months | −12.2% |
From daily values since 02-07-2025, 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 Nifty India Internet ETF
UTI Innovation Fund (Direct)
Nifty India Internet TRI
Against Nifty India Internet TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Mirae Asset Nifty India Internet ETF | 100% | 100% | 0.03% |
| UTI Innovation Fund (Direct) | 94% | 95% | 7.18% |
From month-end values since 02-07-2025. 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 Nifty India Internet ETF vs UTI Innovation: Portfolio Overlap
From each fund's latest monthly portfolio: Mirae Asset Nifty India Internet ETF, September 2026; UTI Innovation Fund, September 2026
Holdings in common
- Overlap
- 42.7%
- Held by both
- 11
- Only in Mirae Asset Nifty India Internet ETF
- 13
- Only in UTI Innovation
- 21
| Security | % of Mirae Asset Nifty India Internet ETF | % of UTI Innovation |
|---|---|---|
| Eternal Ltd. | 19.72% | 9.39% |
| Info Edge (India) Ltd. | 9.35% | 9.07% |
| FSN E-Commerce Ventures Ltd. | 8.67% | 6.15% |
| One 97 Communications Ltd. | 14.30% | 4.83% |
| PB Fintech Ltd. | 7.48% | 3.05% |
| Meesho Ltd. | 4.13% | 2.36% |
| Billionbrains Garage Ventures Ltd. | 5.21% | 2.30% |
| Nazara Technologies Ltd. | 1.73% | 3.20% |
| Swiggy Ltd. | 7.44% | 1.61% |
| TBO Tek Ltd. | 1.15% | 1.28% |
| Urban Company Ltd. | 1.08% | 1.47% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 42.7% means 42.7% 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 Nifty India Internet ETF
| Security | % of fund |
|---|---|
| Angel One Ltd. | 3.54% |
| Motilal Oswal Financial Services Ltd. | 3.12% |
| Indian Railway Catering & Tourism Corporation Ltd. | 2.72% |
| CarTrade Tech Ltd. | 2.46% |
| Pine Labs Ltd. | 1.91% |
Largest holdings only in UTI Innovation Fund
| Security | % of fund |
|---|---|
| EQ - AFFLE 3I LIMITED | 5.74% |
| EQ - ACUTAAS CHEMICALS LIMITED | 4.92% |
| EQ - RATEGAIN TRAVEL TECHNOLOGIES LTD | 4.44% |
| EQ - GRAVITA INDIA LTD. | 3.06% |
| EQ - CLEAN SCIENCE & TECHNOLOGY LTD | 2.92% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Mirae Asset Nifty India Internet ETF | UTI Innovation |
|---|---|---|
| Equity | 100.0% | 96.2% |
| Debt | 0.0% | 0.0% |
| Cash and others | -0.0% | 3.8% |
Market cap of stocks
| Market cap | Mirae Asset Nifty India Internet ETF | UTI Innovation |
|---|---|---|
| Large Cap | 24.9% | 13.7% |
| Mid Cap | 57.2% | 32.7% |
| Small Cap | 17.9% | 47.6% |
| Not on AMFI's list | 0.0% | 2.2% |
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 Nifty India Internet ETF | UTI Innovation |
|---|---|---|
| Retailing | 55.0% | 30.1% |
| Financial Technology (Fintech) | 24.3% | 7.9% |
| IT - Software | 0.0% | 15.8% |
| Capital Markets | 12.7% | 2.3% |
| IT - Services | 0.0% | 7.0% |
| Pharmaceuticals & Biotechnology | 0.0% | 6.9% |
| Leisure Services | 4.9% | 3.7% |
| Electrical Equipment | 0.0% | 4.7% |
| Entertainment | 1.7% | 3.2% |
| Other Consumer Services | 1.4% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
Mirae Asset Nifty India Internet ETF vs UTI Innovation: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Mirae Asset Nifty India Internet ETF | UTI Innovation Fund |
|---|---|---|
| Total expense ratio (Direct) | Not available | 1.26% |
| Base expense ratio (Direct) | 0.00% | 0.96% |
| Total expense ratio (Regular) | Not available | 2.43% |
| Base expense ratio (Regular) | 0.29% | 2.04% |
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 Nifty India Internet ETF vs UTI Innovation Fund: Frequently Asked Questions
What is the difference between Mirae Asset Nifty India Internet ETF and UTI Innovation Fund?
Mirae Asset Nifty India Internet ETF is an ETF fund, UTI Innovation Fund is a Thematic fund, run by Mirae Asset Mutual Fund and UTI Mutual Fund. Their portfolios overlap 42.7%. Mirae Asset Nifty India Internet ETF charges 0.47% a year and UTI Innovation Fund 1.26%.
Which has given higher returns, Mirae Asset Nifty India Internet ETF or UTI Innovation Fund?
Over 1 year: Mirae Asset Nifty India Internet ETF −11.63%, UTI Innovation Fund −9.51%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Mirae Asset Nifty India Internet ETF or UTI Innovation Fund?
Mirae Asset Nifty India Internet ETF charges less: 0.47% a year against 1.26%. These are the total expense ratios reported to AMFI.
How much do Mirae Asset Nifty India Internet ETF and UTI Innovation Fund overlap?
42.7%. They hold 11 of the same securities, the largest shared ones being ETERNAL, NAUKRI, NYKAA. From each fund's latest monthly portfolio.
Which is riskier, Mirae Asset Nifty India Internet ETF or UTI Innovation Fund?
On SEBI's riskometer, Mirae Asset Nifty India Internet ETF is rated Very High and UTI Innovation Fund Very High. Over 1 years, the standard deviation of daily returns was 22.73% and 19.38% a year.
Can I invest in both Mirae Asset Nifty India Internet ETF and UTI Innovation Fund?
Yes. 42.7% 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 Nifty India Internet ETF and UTI Innovation Fund?
Mirae Asset Nifty India Internet ETF: Ekta Gala, amp, Vishal Singh. UTI Innovation Fund: Nitin Jain FM 1.
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.