Motilal Oswal BSE Financials ex Bank 30 Index Fund vs Motilal Oswal Nifty MidSmall Financial Services Index Fund
Direct Plan, Growth option · Data as on 30-10-2026
Motilal Oswal BSE Financials ex Bank 30 Index Fund is an Index fund and Motilal Oswal Nifty MidSmall Financial Services Index Fund is a mutual fund. In the year to 30-10-2026, Motilal Oswal BSE Financials ex Bank 30 Index Fund (Direct) returned −13.2% and Motilal Oswal Nifty MidSmall Financial Services Index Fund (Direct) returned 0.8%. Motilal Oswal BSE Financials ex Bank 30 Index Fund charges 0.54% a year and Motilal Oswal Nifty MidSmall Financial Services Index Fund 0.89% (Direct plans). Their portfolios overlap 33.6%: they hold 14 of the same securities.
Motilal Oswal BSE Financials ex Bank 30 Index Fund
Index
- 1 year return
- −13.2%
- Expense ratio
- 0.54%
- NAV
- ₹15.73
Motilal Oswal Nifty MidSmall Financial Services Index Fund
- 1 year return
- 0.8%
- Expense ratio
- 0.89%
- NAV
- ₹13.03
Which is better, Motilal Oswal BSE Financials ex Bank 30 Index or Motilal Oswal Nifty MidSmall Financial Services 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 MidSmall Financial Services Index returned more over 1 year: 0.8% against −13.2%.
- Motilal Oswal BSE Financials ex Bank 30 Index costs less: 0.54% a year against 0.89% (Direct plans).
- Motilal Oswal BSE Financials ex Bank 30 Index fell less in its worst fall since 25-11-2024: −17.8% against −19.9%.
- Motilal Oswal BSE Financials ex Bank 30 Index holds more in large companies: 65.0% of the fund in large caps against 8.0%.
- Motilal Oswal Nifty MidSmall Financial Services Index is the larger fund: ₹118 Cr against ₹30 Cr.
- Their portfolios overlap 33.6%: 14 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 Financials ex Bank 30 Index Fund | Motilal Oswal Nifty MidSmall Financial Services Index Fund |
|---|---|---|
| Fund house | Motilal Oswal Mutual Fund | Motilal Oswal Mutual Fund |
| Category | Index | Not available |
| AUM | ₹30 Cr (30-09-2026) | ₹118 Cr (30-09-2026) |
| NAV | ₹15.73 (Direct) | ₹13.03 (Direct) |
| Expense ratio (Direct) | 0.54% | 0.89% |
| Expense ratio (Regular) | 1.12% | 1.29% |
| Riskometer | Very High | Not available |
| Benchmark | BSE Financials ex Bank 30 TRI | Not available |
| Launch date | 29-07-2022 | Not available |
| Minimum investment | ₹500 | Not available |
| Lock in | None | Not available |
| Fund managers | Swapnil Mayekar, Abhiroop Mukherjee | Not available |
| Exit load | Exit load-1%- If redeemed within 15 days from the date of allotment. | Not available |
Motilal Oswal BSE Financials ex Bank 30 Index vs Motilal Oswal Nifty MidSmall Financial Services 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 Financials ex Bank 30 Index Fund (Direct) | −5.12% | −11.92% | −8.09% | −13.20% | +9.69% | -- | -- |
| Motilal Oswal Nifty MidSmall Financial Services Index Fund (Direct) | −5.32% | −9.84% | −6.11% | +0.78% | -- | -- | -- |
Motilal Oswal BSE Financials ex Bank 30 Index vs Motilal Oswal Nifty MidSmall Financial Services Index: Year-wise Returns
| Year | BSE Financials ex Bank 30Motilal Oswal BSE Financials ex Bank 30 Index | Nifty MidSmall Financial ServicesMotilal Oswal Nifty MidSmall Financial Services Index |
|---|---|---|
| 2026to date | −14.46% | −4.06% |
| 2025 | +22.64% | +30.50% |
| 2024 | +13.25% | -- |
| 2023 | +32.46% | -- |
Motilal Oswal BSE Financials ex Bank 30 Index vs Motilal Oswal Nifty MidSmall Financial Services Index: Rolling Returns
Every holding period of both funds, against BSE Financials Ex-Banks 30 Index TRI, the benchmark of Motilal Oswal BSE Financials ex Bank 30 Index Fund
Rolling returns
Every 1-year holding period, 229 of them, one for each trading day from 25-11-2025 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 Financials ex Bank 30 Index Fund (Direct)
Motilal Oswal Nifty MidSmall Financial Services Index Fund (Direct)
BSE Financials Ex-Banks 30 Index TRI
to
Dec 2025Feb 2025
to
Feb 2026Apr 2025
to
Apr 2026Jun 2025
to
Jun 2026Aug 2025
to
Aug 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Motilal Oswal BSE Financials ex Bank 30 Index | 17.0 | 23.6 | 19.2 | 11.4 | 9.2 | 15.7 | 3.9 | 8.6% | 7.6% | −14.0% | 26.7% | 0% |
| Motilal Oswal Nifty MidSmall Financial Services Index | 0.0 | 2.6 | 1.3 | 5.7 | 13.5 | 21.8 | 55.0 | 26.6% | 26.1% | 0.8% | 47.2% | 100% |
| BSE Financials Ex-Banks 30 Index TRI | 17.0 | 22.3 | 18.8 | 11.4 | 9.6 | 16.2 | 4.8 | 9.1% | 8.0% | −13.7% | 27.4% | -- |
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 Financials Ex-Banks 30 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 25-11-2024. Past returns do not promise future returns.
Motilal Oswal BSE Financials ex Bank 30 Index vs Motilal Oswal Nifty MidSmall Financial Services 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 04-11-2024 to 30-10-2026: 24 instalments, ₹2,40,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Motilal Oswal BSE Financials ex Bank 30 IndexMotilal Oswal BSE Financials ex Bank 30 Index Fund (Direct) | ₹2,40,000 | ₹2,26,949 | −₹13,051 | −5.3% |
| Motilal Oswal Nifty MidSmall Financial Services IndexMotilal Oswal Nifty MidSmall Financial Services Index Fund (Direct) | ₹2,40,000 | ₹2,60,063 | ₹20,063 | 8.0% |
Motilal Oswal BSE Financials ex Bank 30 IndexMotilal Oswal BSE Financials ex Bank 30 Index Fund (Direct)
Motilal Oswal Nifty MidSmall Financial Services IndexMotilal Oswal Nifty MidSmall Financial Services 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 Financials ex Bank 30 Index vs Motilal Oswal Nifty MidSmall Financial Services Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Motilal Oswal BSE Financials ex Bank 30 Index Fund (Direct) | Motilal Oswal Nifty MidSmall Financial Services Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | −13.20% | +0.78% |
| Standard deviation | 20.90% | 20.85% |
| Sharpe ratio | -0.88 | -0.21 |
| Sortino ratio | -1.19 | -0.30 |
| Maximum drawdown | −17.8% (30-03-2026) | −15.0% (31-03-2026) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.35% | −0.82% |
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 Financials ex Bank 30 Index Fund (Direct) | Motilal Oswal Nifty MidSmall Financial Services Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.19% | +13.57% |
| Standard deviation | 18.47% | 21.10% |
| Sharpe ratio | 0.27 | 0.38 |
| Sortino ratio | 0.38 | 0.54 |
| Maximum drawdown | −17.8% (30-03-2026) | −19.9% (13-03-2025) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.74% | −0.90% |
From daily NAVs, 04-08-2022 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 Financials ex Bank 30 Index Fund (Direct)
Motilal Oswal Nifty MidSmall Financial Services Index Fund (Direct)
BSE Financials Ex-Banks 30 Index TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Motilal Oswal BSE Financials ex Bank 30 Index Fund (Direct) | −17.8% | 06-01-2026 | 30-03-2026 | 06-08-2026 | 4 months | −15.7% |
| Motilal Oswal Nifty MidSmall Financial Services Index Fund (Direct) | −19.9% | 11-12-2024 | 13-03-2025 | 14-05-2025 | 2 months | −13.6% |
| BSE Financials Ex-Banks 30 Index TRI | −17.8% | 06-01-2026 | 30-03-2026 | 05-08-2026 | 4 months | −15.7% |
From daily values since 25-11-2024, 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 Financials ex Bank 30 Index Fund (Direct)
Motilal Oswal Nifty MidSmall Financial Services Index Fund (Direct)
BSE Financials Ex-Banks 30 Index TRI
Against BSE Financials Ex-Banks 30 Index TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Motilal Oswal BSE Financials ex Bank 30 Index Fund (Direct) | 99% | 100% | 0.12% |
| Motilal Oswal Nifty MidSmall Financial Services Index Fund (Direct) | 134% | 95% | 11.28% |
From month-end values since 25-11-2024. 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 Financials ex Bank 30 Index vs Motilal Oswal Nifty MidSmall Financial Services Index: Portfolio Overlap
From each fund's latest monthly portfolio: Motilal Oswal BSE Financials ex Bank 30 Index Fund, September 2026; Motilal Oswal Nifty MidSmall Financial Services Index Fund, September 2026
Holdings in common
- Overlap
- 33.6%
- Held by both
- 14
- Only in Motilal Oswal BSE Financials ex Bank 30 Index
- 16
- Only in Motilal Oswal Nifty MidSmall Financial Services Index
- 16
| Security | % of Motilal Oswal BSE Financials ex Bank 30 Index | % of Motilal Oswal Nifty MidSmall Financial Services Index |
|---|---|---|
| Multi Commodity Exchange of India Limited | 5.52% | 8.52% |
| One 97 Communications Limited | 4.72% | 7.31% |
| Life Insurance Corporation Of India | 3.60% | 5.07% |
| ICICI Lombard General Insurance Company Limited | 2.54% | 3.92% |
| PB Fintech Limited | 2.49% | 3.82% |
| REC Limited | 2.43% | 3.78% |
| Max Financial Services Limited | 2.37% | 3.69% |
| Aditya Birla Capital Limited | 2.12% | 3.28% |
| 360 One WAM Limited | 1.75% | 2.74% |
| L&T Finance Limited | 1.48% | 2.29% |
| Nippon Life India Asset Management Limited | 1.26% | 1.95% |
| ICICI Prudential Life Insurance Company Limited | 1.14% | 1.78% |
| SBI Cards and Payment Services Limited | 1.12% | 1.74% |
| LIC Housing Finance Limited | 1.04% | 1.61% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 33.6% means 33.6% 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 Motilal Oswal BSE Financials ex Bank 30 Index Fund
| Security | % of fund |
|---|---|
| Bajaj Finance Ltd | 15.93% |
| Shriram Finance Limited | 8.96% |
| Bajaj Finserv Limited | 6.37% |
| SBI Life Insurance Company Limited | 5.01% |
| Jio Financial Services Limited | 4.69% |
Largest holdings only in Motilal Oswal Nifty MidSmall Financial Services Index Fund
| Security | % of fund |
|---|---|
| The Federal Bank Limited | 7.93% |
| IndusInd Bank Limited | 6.01% |
| AU Small Finance Bank Limited | 5.94% |
| IDFC First Bank Limited | 5.47% |
| Yes Bank Limited | 3.72% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Motilal Oswal BSE Financials ex Bank 30 Index | Motilal Oswal Nifty MidSmall Financial Services 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 Financials ex Bank 30 Index | Motilal Oswal Nifty MidSmall Financial Services Index |
|---|---|---|
| Large Cap | 65.0% | 8.0% |
| Mid Cap | 33.9% | 77.1% |
| Small Cap | 1.0% | 15.0% |
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 | Motilal Oswal BSE Financials ex Bank 30 Index | Motilal Oswal Nifty MidSmall Financial Services Index |
|---|---|---|
| Finance | 62.0% | 16.6% |
| Banks | 0.0% | 35.3% |
| Capital Markets | 11.6% | 22.5% |
| Insurance | 19.2% | 14.5% |
| Financial Technology (Fintech) | 7.2% | 11.1% |
The six largest sectors of each fund's stocks, % of the fund.
Motilal Oswal BSE Financials ex Bank 30 Index vs Motilal Oswal Nifty MidSmall Financial Services Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Motilal Oswal BSE Financials ex Bank 30 Index Fund | Motilal Oswal Nifty MidSmall Financial Services Index Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.54% | 0.89% |
| Base expense ratio (Direct) | 0.37% | 0.55% |
| Total expense ratio (Regular) | 1.12% | 1.29% |
| Base expense ratio (Regular) | 0.90% | 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 Financials ex Bank 30 Index Fund vs Motilal Oswal Nifty MidSmall Financial Services Index Fund: Frequently Asked Questions
What is the difference between Motilal Oswal BSE Financials ex Bank 30 Index Fund and Motilal Oswal Nifty MidSmall Financial Services Index Fund?
Motilal Oswal BSE Financials ex Bank 30 Index Fund is an Index fund, Motilal Oswal Nifty MidSmall Financial Services Index Fund is a mutual fund, run by Motilal Oswal Mutual Fund. Their portfolios overlap 33.6%. Motilal Oswal BSE Financials ex Bank 30 Index Fund charges 0.54% a year and Motilal Oswal Nifty MidSmall Financial Services Index Fund 0.89%.
Which has given higher returns, Motilal Oswal BSE Financials ex Bank 30 Index Fund or Motilal Oswal Nifty MidSmall Financial Services Index Fund?
Over 1 year: Motilal Oswal BSE Financials ex Bank 30 Index Fund −13.20%, Motilal Oswal Nifty MidSmall Financial Services Index Fund +0.78%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Motilal Oswal BSE Financials ex Bank 30 Index Fund or Motilal Oswal Nifty MidSmall Financial Services Index Fund?
Motilal Oswal BSE Financials ex Bank 30 Index Fund charges less: 0.54% a year against 0.89%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Motilal Oswal BSE Financials ex Bank 30 Index Fund and Motilal Oswal Nifty MidSmall Financial Services Index Fund overlap?
33.6%. They hold 14 of the same securities, the largest shared ones being MCX, PAYTM, LICI. From each fund's latest monthly portfolio.
Can I invest in both Motilal Oswal BSE Financials ex Bank 30 Index Fund and Motilal Oswal Nifty MidSmall Financial Services Index Fund?
Yes. 33.6% of each fund's money sits in the same holdings, so some 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.