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    Mirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETF vs UTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund

    Direct Plan where a fund has one, Growth option · Data as on 30-10-2026

    Mirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETF is an ETF fund and UTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund is an Index fund. In the year to 30-10-2026, Mirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETF returned −0.1% and UTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund (Direct) returned 0.0%. Mirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETF charges 0.64% a year and UTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund 0.78%. Their portfolios overlap 99.9%: they hold 100 of the same securities.

    Mirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETF

    ETF

    1 year return
    −0.1%
    Expense ratio
    0.64%
    NAV
    ₹49.03
    See Mirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETF

    UTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund

    Index

    1 year return
    0.0%
    Expense ratio
    0.78%
    NAV
    ₹11.20
    See UTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund

    Which is better, Mirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETF or UTI Nifty Midsmallcap 400 Momentum Quality 100 Index? Key differences

    It depends on what you want from the fund. These are the differences in numbers, from the data on this page.

    • UTI Nifty Midsmallcap 400 Momentum Quality 100 Index returned more over 1 year: 0.0% against −0.1%.
    • Mirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETF costs less: 0.64% a year against 0.78%.
    • UTI Nifty Midsmallcap 400 Momentum Quality 100 Index fell less in its worst fall since 18-02-2025: −17.4% against −17.4%.
    • Mirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETF is the larger fund: ₹464 Cr against ₹130 Cr.
    • Their portfolios overlap 99.9%: 100 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

    FactMirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETFUTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund
    Fund houseMirae Asset Mutual FundUTI Mutual Fund
    CategoryETFIndex
    AUM₹464 Cr (30-09-2026)₹130 Cr (30-09-2026)
    NAV₹49.03₹11.20 (Direct)
    Expense ratio (Direct)Not available0.78%
    Expense ratio (Regular)Not available1.27%
    RiskometerVery HighVery High
    BenchmarkNifty MidSmallcap400 Momentum Quality 100 TRINifty MidSmallcap400 Momentum Quality 100 TRI
    Launch date22-05-202413-02-2025
    Minimum investmentOn exchange in multiple of 1 unit. With AMC: In multiples of 2,00,000 units₹1,000
    Lock inNoneNone
    Fund managersEkta Gala, amp, Akshay UdeshiSharwan Kumar Goyal FM 1, Ayush Jain FM 2, Lokesh Kulthia FM 3
    Exit loadNILNil

    Mirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETF vs UTI Nifty Midsmallcap 400 Momentum Quality 100 Index: Returns Comparison

    Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.

    Fund1M3M6M1Y3Y5Y10Y
    Mirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETF−1.55%−3.41%−0.92%−0.12%------
    UTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund (Direct)−1.53%−3.37%−0.88%+0.01%------

    Mirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETF vs UTI Nifty Midsmallcap 400 Momentum Quality 100 Index: Year-wise Returns

    YearMirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETFMirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETFUTI Nifty Midsmallcap 400 Momentum Quality 100 IndexUTI Nifty Midsmallcap 400 Momentum Quality 100 IndexNifty MidSmallcap400 Momentum Quality 100 TRI
    2026to date+2.85%+2.89%+3.30%
    2025−7.32%--−6.80%

    Mirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETF vs UTI Nifty Midsmallcap 400 Momentum Quality 100 Index: Rolling Returns

    Every holding period of both funds, against Nifty MidSmallcap400 Momentum Quality 100 TRI, the benchmark of both

    Rolling returns

    Every 1-year holding period, 171 of them, one for each trading day from 18-02-2026 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.

    −5%0%5%10%15%20%
    Mar 2025
    to
    Mar 2026    Apr 2025
    to
    Apr 2026    Jun 2025
    to
    Jun 2026    Jul 2025
    to
    Jul 2026    Aug 2025
    to
    Aug 2026    Oct 2025
    to
    Oct 2026
    Mirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETFUTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund (Direct)Nifty MidSmallcap400 Momentum Quality 100 TRI

    How the periods spread

    FundBelow 0%0-5%5-10%10-15%15-20%20-25%Above 25%MeanMedianLowestHighestBeat benchmark
    Mirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETF17.035.732.214.60.60.00.04.9%4.4%−4.6%15.2%0%
    UTI Nifty Midsmallcap 400 Momentum Quality 100 Index15.836.332.215.20.60.00.04.9%4.5%−4.6%15.3%0%
    Nifty MidSmallcap400 Momentum Quality 100 TRI12.337.431.018.70.60.00.05.5%5.0%−4.1%15.9%--

    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 MidSmallcap400 Momentum Quality 100 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 18-02-2025. Past returns do not promise future returns.

    Mirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETF vs UTI Nifty Midsmallcap 400 Momentum Quality 100 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

    Step up each year
    PeriodFor

    ₹10,000 on the first trading day of every month, from 01-02-2025 to 30-10-2026: 21 instalments, ₹2,10,000 in all.

    InvestmentInvestedValue nowGainReturn a year
    Mirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETFMirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETF ₹2,10,000 ₹2,15,619 ₹5,619 2.9%
    UTI Nifty Midsmallcap 400 Momentum Quality 100 IndexUTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund (Direct) ₹2,10,000 ₹2,16,535 ₹6,535 3.4%
    ₹0₹50,000₹1.0 L₹1.5 L₹2.0 L₹2.5 L
    2026
    Mirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETFMirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETFUTI Nifty Midsmallcap 400 Momentum Quality 100 IndexUTI Nifty Midsmallcap 400 Momentum Quality 100 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.

    Mirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETF vs UTI Nifty Midsmallcap 400 Momentum Quality 100 Index: Risk and Drawdowns

    How much each fund swings, and the worst fall over the same days

    Risk and return

    MeasureMirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETFUTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund (Direct)
    Return (CAGR)−0.12%+0.01%
    Standard deviation17.84%17.61%
    Sharpe ratio-0.30-0.30
    Sortino ratio-0.41-0.41
    Maximum drawdown−14.7% (23-03-2026)−14.6% (23-03-2026)
    Beta1.001.00
    Alpha−0.60%−0.47%

    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.

    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.

    −20%−15%−10%−5%0%
    2026
    Mirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETFUTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund (Direct)Nifty MidSmallcap400 Momentum Quality 100 TRI
    FundWorst fallHigh before itBottomBack at the highTime to climb backBelow its high today
    Mirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETF−17.4%10-06-202523-03-202618-06-20263 months−7.1%
    UTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund (Direct)−17.4%10-06-202523-03-202627-05-20262 months−7.1%
    Nifty MidSmallcap400 Momentum Quality 100 TRI−17.1%10-06-202523-03-202607-05-202645 days−7.1%

    From daily values since 18-02-2025, 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.

    0%5%10%15%20%
    Mirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETFUTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund (Direct)Nifty MidSmallcap400 Momentum Quality 100 TRI

    Against Nifty MidSmallcap400 Momentum Quality 100 TRI

    FundUp captureDown captureTracking error
    Mirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETF99%102%0.09%
    UTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund (Direct)99%101%0.08%

    From month-end values since 18-02-2025. 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 Midsmallcap400 Momentum Quality 100 ETF vs UTI Nifty Midsmallcap 400 Momentum Quality 100 Index: Portfolio Overlap

    From each fund's latest monthly portfolio: Mirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETF, September 2026; UTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund, September 2026

    Holdings in common

    Overlap
    99.9%
    Held by both
    100
    Only in Mirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETF
    0
    Only in UTI Nifty Midsmallcap 400 Momentum Quality 100 Index
    0
    Security% of Mirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETF% of UTI Nifty Midsmallcap 400 Momentum Quality 100 Index
    Laurus Labs Ltd.4.78%4.78%
    BSE Ltd.4.16%4.16%
    The Federal Bank Ltd.4.11%4.11%
    Multi Commodity Exchange of India Ltd.3.79%3.79%
    Bharat Forge Ltd.2.80%2.80%
    GE Vernova T&D India Ltd.2.56%2.56%
    Polycab India Ltd.2.47%2.47%
    Hitachi Energy India Ltd.2.45%2.45%
    Welspun Corp Ltd.2.35%2.35%
    Aurobindo Pharma Ltd.2.35%2.35%

    Overlap: for each holding both funds own, the smaller of its two weights, added up. 99.9% means 99.9% 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 Midsmallcap400 Momentum Quality 100 ETF

    Every holding of this fund is also held by the other.

    Largest holdings only in UTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund

    Every holding of this fund is also held by the other.

    Asset and sector split

    Share of each fund, from its latest monthly portfolio

    Asset allocation

    AssetMirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETFUTI Nifty Midsmallcap 400 Momentum Quality 100 Index
    Equity100.0%100.1%
    Debt0.0%0.0%
    Cash and others-0.0%-0.1%

    Market cap of stocks

    Market capMirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETFUTI Nifty Midsmallcap 400 Momentum Quality 100 Index
    Large Cap11.2%11.3%
    Mid Cap62.9%63.0%
    Small Cap25.9%25.9%

    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

    SectorMirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETFUTI Nifty Midsmallcap 400 Momentum Quality 100 Index
    Pharmaceuticals & Biotechnology16.0%16.0%
    Capital Markets15.0%15.0%
    Electrical Equipment10.5%10.5%
    Banks10.4%10.4%
    Industrial Products9.8%9.8%
    Auto Components6.1%6.1%

    The six largest sectors of each fund's stocks, % of the fund.

    Mirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETF vs UTI Nifty Midsmallcap 400 Momentum Quality 100 Index: Expense Ratio

    What each plan charges a year, from AMFI's expense ratio file

    ChargeMirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETFUTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund
    Total expense ratio (Direct)Not available0.78%
    Base expense ratio (Direct)0.00%0.46%
    Total expense ratio (Regular)Not available1.27%
    Base expense ratio (Regular)0.37%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 Nifty Midsmallcap400 Momentum Quality 100 ETF vs UTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund: Frequently Asked Questions

    What is the difference between Mirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETF and UTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund?

    Mirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETF is an ETF fund, UTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund is an Index fund, run by Mirae Asset Mutual Fund and UTI Mutual Fund. Their portfolios overlap 99.9%. Mirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETF charges 0.64% a year and UTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund 0.78%.

    Which has given higher returns, Mirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETF or UTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund?

    Over 1 year: Mirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETF −0.12%, UTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund +0.01%. As on 30-10-2026. Past returns do not promise future returns.

    Which has the lower expense ratio, Mirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETF or UTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund?

    Mirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETF charges less: 0.64% a year against 0.78%. These are the total expense ratios reported to AMFI.

    How much do Mirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETF and UTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund overlap?

    99.9%. They hold 100 of the same securities, the largest shared ones being LAURUSLABS, BSE, FEDERALBNK. From each fund's latest monthly portfolio.

    Which is riskier, Mirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETF or UTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund?

    On SEBI's riskometer, Mirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETF is rated Very High and UTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund Very High. Over 1 years, the standard deviation of daily returns was 17.84% and 17.61% a year.

    Can I invest in both Mirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETF and UTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund?

    Yes. 99.9% 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 Midsmallcap400 Momentum Quality 100 ETF and UTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund?

    Mirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETF: Ekta Gala, amp, Akshay Udeshi. UTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund: Sharwan Kumar Goyal FM 1, Ayush Jain FM 2, Lokesh Kulthia FM 3.

    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.

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