Motilal Oswal BSE Enhanced Value ETF vs Motilal Oswal BSE Enhanced Value Index Fund
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
Motilal Oswal BSE Enhanced Value ETF is an ETF fund and Motilal Oswal BSE Enhanced Value Index Fund is an Index fund. In the 3 years to 30-10-2026, Motilal Oswal BSE Enhanced Value ETF returned 19.1% a year and Motilal Oswal BSE Enhanced Value Index Fund (Direct) returned 18.6% a year. Motilal Oswal BSE Enhanced Value ETF charges 0.48% a year and Motilal Oswal BSE Enhanced Value Index Fund 0.55%. Their portfolios overlap 99.9%: they hold 30 of the same securities.
Motilal Oswal BSE Enhanced Value ETF
ETF
- 3 year return
- 19.1%
- Expense ratio
- 0.48%
- NAV
- ₹104.70
Motilal Oswal BSE Enhanced Value Index Fund
Index
- 3 year return
- 18.6%
- Expense ratio
- 0.55%
- NAV
- ₹25.38
Which is better, Motilal Oswal BSE Enhanced Value ETF or Motilal Oswal BSE Enhanced Value 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 BSE Enhanced Value ETF returned more over 3 years: 19.1% a year against 18.6%.
- Motilal Oswal BSE Enhanced Value ETF returned more over 1 year: −7.1% against −7.3%.
- Motilal Oswal BSE Enhanced Value ETF costs less: 0.48% a year against 0.55%.
- Motilal Oswal BSE Enhanced Value Index swung less over 3 years: a standard deviation of 20.9% a year against 21.0%.
- Motilal Oswal BSE Enhanced Value Index fell less in its worst fall since 26-08-2022: −21.8% against −21.8%.
- Motilal Oswal BSE Enhanced Value Index is the larger fund: ₹2,132 Cr against ₹147 Cr.
- Their portfolios overlap 99.9%: 30 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 | Motilal Oswal BSE Enhanced Value ETF | Motilal Oswal BSE Enhanced Value Index Fund |
|---|---|---|
| Fund house | Motilal Oswal Mutual Fund | Motilal Oswal Mutual Fund |
| Category | ETF | Index |
| AUM | ₹147 Cr (30-09-2026) | ₹2,132 Cr (30-09-2026) |
| NAV | ₹104.70 | ₹25.38 (Direct) |
| Expense ratio (Direct) | Not available | 0.55% |
| Expense ratio (Regular) | Not available | 1.16% |
| Riskometer | Very High | Very High |
| Benchmark | BSE Enhanced Value TRI | BSE Enhanced Value TRI |
| Launch date | 22-08-2022 | 22-08-2022 |
| Minimum investment | ₹500 | ₹500 |
| Lock in | None | None |
| Fund managers | Swapnil Mayekar, Rakesh Shetty | Swapnil Mayekar, Rakesh Shetty |
| Exit load | Not available | Yes |
Motilal Oswal BSE Enhanced Value ETF vs Motilal Oswal BSE Enhanced Value 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 |
|---|---|---|---|---|---|---|---|
| Motilal Oswal BSE Enhanced Value ETF | −2.90% | −7.89% | −10.82% | −7.14% | +19.05% | -- | -- |
| Motilal Oswal BSE Enhanced Value Index Fund (Direct) | −2.90% | −7.90% | −10.84% | −7.30% | +18.64% | -- | -- |
Motilal Oswal BSE Enhanced Value ETF vs Motilal Oswal BSE Enhanced Value Index: Year-wise Returns
| Year | ETFMotilal Oswal BSE Enhanced Value ETF | IndexMotilal Oswal BSE Enhanced Value Index | BSE Enhanced Value Index TRI |
|---|---|---|---|
| 2026to date | −10.57% | −10.62% | −10.45% |
| 2025 | +21.96% | +21.74% | +22.65% |
| 2024 | +20.67% | +19.95% | +21.23% |
| 2023 | +61.50% | +60.38% | +62.17% |
Motilal Oswal BSE Enhanced Value ETF vs Motilal Oswal BSE Enhanced Value Index: Rolling Returns
Every holding period of both funds, against BSE Enhanced Value Index TRI, the benchmark of both
Rolling returns
Every 3-year holding period, 290 of them, one for each trading day from 26-08-2025 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.
Motilal Oswal BSE Enhanced Value ETF
Motilal Oswal BSE Enhanced Value Index Fund (Direct)
BSE Enhanced Value Index TRI
to
Sept 2025Dec 2022
to
Dec 2025Feb 2023
to
Feb 2026May 2023
to
May 2026Jul 2023
to
Jul 2026Sept 2023
to
Sept 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Motilal Oswal BSE Enhanced Value ETF | 0.0 | 0.0 | 0.0 | 0.0 | 7.6 | 10.0 | 82.4 | 30.7% | 32.0% | 18.1% | 39.2% | 0% |
| Motilal Oswal BSE Enhanced Value Index | 0.0 | 0.0 | 0.0 | 0.0 | 10.0 | 10.7 | 79.2 | 30.1% | 31.4% | 17.7% | 38.6% | 0% |
| BSE Enhanced Value Index TRI | 0.0 | 0.0 | 0.0 | 0.0 | 5.9 | 7.9 | 86.2 | 31.4% | 32.7% | 18.6% | 39.9% | -- |
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 BSE Enhanced Value Index 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 26-08-2022. Past returns do not promise future returns.
Motilal Oswal BSE Enhanced Value ETF vs Motilal Oswal BSE Enhanced Value 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
₹10,000 on the first trading day of every month, from 26-08-2022 to 30-10-2026: 51 instalments, ₹5,10,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Motilal Oswal BSE Enhanced Value ETFMotilal Oswal BSE Enhanced Value ETF | ₹5,10,000 | ₹6,92,588 | ₹1,82,588 | 14.5% |
| Motilal Oswal BSE Enhanced Value IndexMotilal Oswal BSE Enhanced Value Index Fund (Direct) | ₹5,10,000 | ₹6,86,903 | ₹1,76,903 | 14.1% |
Motilal Oswal BSE Enhanced Value ETFMotilal Oswal BSE Enhanced Value ETF
Motilal Oswal BSE Enhanced Value IndexMotilal Oswal BSE Enhanced Value 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.
Motilal Oswal BSE Enhanced Value ETF vs Motilal Oswal BSE Enhanced Value Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Motilal Oswal BSE Enhanced Value ETF | Motilal Oswal BSE Enhanced Value Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | −7.14% | −7.30% |
| Standard deviation | 17.75% | 17.37% |
| Sharpe ratio | -0.70 | -0.72 |
| Sortino ratio | -0.90 | -0.93 |
| Maximum drawdown | −18.6% (23-10-2026) | −18.6% (23-10-2026) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.25% | −0.42% |
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 | Motilal Oswal BSE Enhanced Value ETF | Motilal Oswal BSE Enhanced Value Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +19.05% | +18.64% |
| Standard deviation | 21.05% | 20.86% |
| Sharpe ratio | 0.62 | 0.60 |
| Sortino ratio | 0.82 | 0.81 |
| Maximum drawdown | −21.8% (28-02-2025) | −21.8% (28-02-2025) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.50% | −0.87% |
From daily NAVs, 30-10-2023 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.
| Measure | Motilal Oswal BSE Enhanced Value ETF | Motilal Oswal BSE Enhanced Value Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +24.21% | +23.70% |
| Standard deviation | 19.80% | 19.62% |
| Sharpe ratio | 0.91 | 0.89 |
| Sortino ratio | 1.23 | 1.21 |
| Maximum drawdown | −21.8% (28-02-2025) | −21.8% (28-02-2025) |
| Beta | 1.00 | 0.99 |
| Alpha | −0.52% | −0.97% |
From daily NAVs, 26-08-2022 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.
Motilal Oswal BSE Enhanced Value ETF
Motilal Oswal BSE Enhanced Value Index Fund (Direct)
BSE Enhanced Value Index TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Motilal Oswal BSE Enhanced Value ETF | −21.8% | 31-07-2024 | 28-02-2025 | 29-10-2025 | 8 months | −18.1% |
| Motilal Oswal BSE Enhanced Value Index Fund (Direct) | −21.8% | 31-07-2024 | 28-02-2025 | 29-10-2025 | 8 months | −18.1% |
| BSE Enhanced Value Index TRI | −21.6% | 31-07-2024 | 28-02-2025 | 28-10-2025 | 8 months | −18.0% |
From daily values since 26-08-2022, 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.
Motilal Oswal BSE Enhanced Value ETF
Motilal Oswal BSE Enhanced Value Index Fund (Direct)
BSE Enhanced Value Index TRI
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 3-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Motilal Oswal BSE Enhanced Value ETF
Motilal Oswal BSE Enhanced Value Index Fund (Direct)
BSE Enhanced Value Index TRI
Against BSE Enhanced Value Index TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Motilal Oswal BSE Enhanced Value ETF | 99% | 100% | 0.22% |
| Motilal Oswal BSE Enhanced Value Index Fund (Direct) | 98% | 100% | 0.30% |
From month-end values since 26-08-2022. 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.
Motilal Oswal BSE Enhanced Value ETF vs Motilal Oswal BSE Enhanced Value Index: Portfolio Overlap
From each fund's latest monthly portfolio: Motilal Oswal BSE Enhanced Value ETF, September 2026; Motilal Oswal BSE Enhanced Value Index Fund, September 2026
Holdings in common
- Overlap
- 99.9%
- Held by both
- 30
- Only in Motilal Oswal BSE Enhanced Value ETF
- 0
- Only in Motilal Oswal BSE Enhanced Value Index
- 0
| Security | % of Motilal Oswal BSE Enhanced Value ETF | % of Motilal Oswal BSE Enhanced Value Index |
|---|---|---|
| Indian Oil Corporation Limited | 7.20% | 7.21% |
| Bharat Petroleum Corporation Limited | 7.17% | 7.18% |
| Coal India Limited | 7.14% | 7.15% |
| Oil & Natural Gas Corporation Limited | 6.99% | 6.99% |
| State Bank of India | 6.97% | 6.97% |
| Tata Motors Passenger Vehicles Limited | 6.81% | 6.82% |
| Hindalco Industries Limited | 6.68% | 6.68% |
| Life Insurance Corporation Of India | 4.89% | 4.89% |
| GAIL (India) Limited | 4.66% | 4.66% |
| Steel Authority of India Limited | 4.53% | 4.54% |
| Power Finance Corporation Limited | 3.91% | 3.91% |
| Bank of Baroda | 3.84% | 3.84% |
| Canara Bank | 3.51% | 3.51% |
| Punjab National Bank | 3.39% | 3.39% |
| Hindustan Petroleum Corporation Limited | 3.05% | 3.05% |
| REC Limited | 2.72% | 2.72% |
| Union Bank of India | 2.45% | 2.46% |
| Oil India Limited | 1.91% | 1.91% |
| Petronet LNG Limited | 1.61% | 1.61% |
| Indian Bank | 1.54% | 1.54% |
| Bank of India | 1.53% | 1.53% |
| LIC Housing Finance Limited | 1.40% | 1.40% |
| AWL Agri Business Limited | 1.35% | 1.35% |
| ACC Limited | 1.08% | 1.08% |
| Bandhan Bank Limited | 0.91% | 0.91% |
| General Insurance Corporation of India | 0.90% | 0.90% |
| Bank of Maharashtra | 0.81% | 0.81% |
| Central Bank of India | 0.52% | 0.52% |
| The New India Assurance Company Limited | 0.29% | 0.29% |
| UCO Bank | 0.17% | 0.17% |
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 Motilal Oswal BSE Enhanced Value ETF
Every holding of this fund is also held by the other.
Largest holdings only in Motilal Oswal BSE Enhanced Value 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
| Asset | Motilal Oswal BSE Enhanced Value ETF | Motilal Oswal BSE Enhanced Value Index |
|---|---|---|
| Equity | 99.9% | 100.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 0.1% | 0.0% |
Market cap of stocks
| Market cap | Motilal Oswal BSE Enhanced Value ETF | Motilal Oswal BSE Enhanced Value Index |
|---|---|---|
| Large Cap | 77.2% | 77.2% |
| Mid Cap | 17.2% | 17.2% |
| Small Cap | 5.5% | 5.5% |
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 | Motilal Oswal BSE Enhanced Value ETF | Motilal Oswal BSE Enhanced Value Index |
|---|---|---|
| Banks | 25.6% | 25.6% |
| Petroleum Products | 17.4% | 17.4% |
| Oil | 8.9% | 8.9% |
| Finance | 8.0% | 8.0% |
| Consumable Fuels | 7.1% | 7.2% |
| Automobiles | 6.8% | 6.8% |
The six largest sectors of each fund's stocks, % of the fund.
Motilal Oswal BSE Enhanced Value ETF vs Motilal Oswal BSE Enhanced Value Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Motilal Oswal BSE Enhanced Value ETF | Motilal Oswal BSE Enhanced Value Index Fund |
|---|---|---|
| Total expense ratio (Direct) | Not available | 0.55% |
| Base expense ratio (Direct) | 0.00% | 0.35% |
| Total expense ratio (Regular) | Not available | 1.16% |
| Base expense ratio (Regular) | 0.30% | 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.
Motilal Oswal BSE Enhanced Value ETF vs Motilal Oswal BSE Enhanced Value Index Fund: Frequently Asked Questions
What is the difference between Motilal Oswal BSE Enhanced Value ETF and Motilal Oswal BSE Enhanced Value Index Fund?
Motilal Oswal BSE Enhanced Value ETF is an ETF fund, Motilal Oswal BSE Enhanced Value Index Fund is an Index fund, run by Motilal Oswal Mutual Fund. Their portfolios overlap 99.9%. Motilal Oswal BSE Enhanced Value ETF charges 0.48% a year and Motilal Oswal BSE Enhanced Value Index Fund 0.55%.
Which has given higher returns, Motilal Oswal BSE Enhanced Value ETF or Motilal Oswal BSE Enhanced Value Index Fund?
Over 1 year: Motilal Oswal BSE Enhanced Value ETF −7.14%, Motilal Oswal BSE Enhanced Value Index Fund −7.30%. Over 3 years: Motilal Oswal BSE Enhanced Value ETF +19.05% a year, Motilal Oswal BSE Enhanced Value Index Fund +18.64% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Motilal Oswal BSE Enhanced Value ETF or Motilal Oswal BSE Enhanced Value Index Fund?
Motilal Oswal BSE Enhanced Value ETF charges less: 0.48% a year against 0.55%. These are the total expense ratios reported to AMFI.
How much do Motilal Oswal BSE Enhanced Value ETF and Motilal Oswal BSE Enhanced Value Index Fund overlap?
99.9%. They hold 30 of the same securities, the largest shared ones being IOC, BPCL, COALINDIA. From each fund's latest monthly portfolio.
Which is riskier, Motilal Oswal BSE Enhanced Value ETF or Motilal Oswal BSE Enhanced Value Index Fund?
On SEBI's riskometer, Motilal Oswal BSE Enhanced Value ETF is rated Very High and Motilal Oswal BSE Enhanced Value Index Fund Very High. Over 3 years, the standard deviation of daily returns was 21.05% and 20.86% a year.
Which is better for SIP, Motilal Oswal BSE Enhanced Value ETF or Motilal Oswal BSE Enhanced Value Index Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹3,91,079 in Motilal Oswal BSE Enhanced Value ETF (XIRR 3.5% a year) and ₹3,89,794 in Motilal Oswal BSE Enhanced Value Index Fund (XIRR 3.3% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both Motilal Oswal BSE Enhanced Value ETF and Motilal Oswal BSE Enhanced Value 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 Motilal Oswal BSE Enhanced Value ETF and Motilal Oswal BSE Enhanced Value Index Fund?
Motilal Oswal BSE Enhanced Value ETF: Swapnil Mayekar, Rakesh Shetty. Motilal Oswal BSE Enhanced Value Index Fund: Swapnil Mayekar, 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.