Motilal Oswal Digital India Fund vs UTI Innovation Fund
Direct Plan, Growth option · Data as on 30-10-2026
Motilal Oswal Digital India Fund is a Thematic fund and UTI Innovation Fund is a Thematic fund. In the year to 30-10-2026, Motilal Oswal Digital India Fund (Direct) returned −2.7% and UTI Innovation Fund (Direct) returned −9.5%. Motilal Oswal Digital India Fund charges 1.06% a year and UTI Innovation Fund 1.26% (Direct plans). Their portfolios overlap 29.8%: they hold 10 of the same securities.
Motilal Oswal Digital India Fund
Thematic
- 1 year return
- −2.7%
- Expense ratio
- 1.06%
- NAV
- ₹10.50
Which is better, Motilal Oswal Digital India 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.
- Motilal Oswal Digital India returned more over 1 year: −2.7% against −9.5%.
- Motilal Oswal Digital India costs less: 1.06% a year against 1.26% (Direct plans).
- UTI Innovation fell less in its worst fall since 08-11-2024: −29.9% against −30.3%.
- Motilal Oswal Digital India is the larger fund: ₹989 Cr against ₹768 Cr.
- Their portfolios overlap 29.8%: 10 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 Digital India Fund | UTI Innovation Fund |
|---|---|---|
| Fund house | Motilal Oswal Mutual Fund | UTI Mutual Fund |
| Category | Thematic | Thematic |
| AUM | ₹989 Cr (30-09-2026) | ₹768 Cr (30-09-2026) |
| NAV | ₹10.50 (Direct) | ₹11.19 (Direct) |
| Expense ratio (Direct) | 1.06% | 1.26% |
| Expense ratio (Regular) | 2.35% | 2.43% |
| Riskometer | Not available | Very High |
| Benchmark | Not available | Nifty 500 TRI |
| Launch date | Not available | 13-10-2023 |
| Minimum investment | Not available | REGULAR PLAN-GROWTH:5000 , DIRECT PLAN-GROWTH:5000, REGULAR PLAN-PAYOUT OF IDCW:5000, DIRECT PLAN-PAYOUT OF IDCW:5000 |
| Lock in | Not available | None |
| Fund managers | Not available | Nitin Jain FM 1 |
| Exit load | Not available | 1% if redeemed/switched out within 12 months from the date of allotment, Nil thereafter. |
Motilal Oswal Digital India 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 |
|---|---|---|---|---|---|---|---|
| Motilal Oswal Digital India Fund (Direct) | −2.72% | +3.67% | +22.16% | −2.68% | -- | -- | -- |
| 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.
Motilal Oswal Digital India vs UTI Innovation: Year-wise Returns
| Year | Motilal Oswal Digital IndiaMotilal Oswal Digital India | UTI InnovationUTI Innovation |
|---|---|---|
| 2026to date | −0.29% | −5.63% |
| 2025 | −0.88% | −6.47% |
| 2024 | -- | +20.12% |
Motilal Oswal Digital India vs UTI Innovation: Rolling Returns
Every holding period of both funds, against BSE TECK TRI, the benchmark of Motilal Oswal Digital India Fund
Rolling returns
Every 1-year holding period, 240 of them, one for each trading day from 10-11-2025 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 Digital India Fund (Direct)
UTI Innovation Fund (Direct)
BSE TECK 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 Digital India | 56.7 | 29.6 | 12.9 | 0.8 | 0.0 | 0.0 | 0.0 | −1.5% | −1.0% | −16.9% | 11.8% | 100% |
| UTI Innovation | 76.3 | 23.8 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | −3.3% | −3.5% | −13.8% | 5.0% | 79% |
| BSE TECK TRI | 99.2 | 0.8 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | −9.8% | −9.5% | −24.5% | 1.0% | -- |
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 TECK 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 08-11-2024. Past returns do not promise future returns.
Motilal Oswal Digital India 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 08-11-2024 to 30-10-2026: 24 instalments, ₹2,40,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Motilal Oswal Digital IndiaMotilal Oswal Digital India Fund (Direct) | ₹2,40,000 | ₹2,60,234 | ₹20,234 | 8.0% |
| UTI InnovationUTI Innovation Fund (Direct) | ₹2,40,000 | ₹2,36,064 | −₹3,936 | −1.6% |
Motilal Oswal Digital IndiaMotilal Oswal Digital India Fund (Direct)
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.
Motilal Oswal Digital India vs UTI Innovation: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Motilal Oswal Digital India Fund (Direct) | UTI Innovation Fund (Direct) |
|---|---|---|
| Return (CAGR) | −2.68% | −9.51% |
| Standard deviation | 22.77% | 19.38% |
| Sharpe ratio | -0.35 | -0.76 |
| Sortino ratio | -0.50 | -1.02 |
| Maximum drawdown | −30.3% (31-03-2026) | −25.7% (23-03-2026) |
| Beta | 0.76 | 1.13 |
| Alpha | +1.66% | −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 | Motilal Oswal Digital India Fund (Direct) | UTI Innovation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +2.62% | +3.71% |
| Standard deviation | 21.32% | 18.01% |
| Sharpe ratio | -0.14 | -0.13 |
| Sortino ratio | -0.20 | -0.18 |
| Maximum drawdown | −30.3% (31-03-2026) | −31.5% (23-03-2026) |
| Beta | 0.76 | 1.04 |
| Alpha | +6.27% | −5.44% |
From daily NAVs, 08-11-2024 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 Digital India Fund (Direct)
UTI Innovation Fund (Direct)
BSE TECK TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Motilal Oswal Digital India Fund (Direct) | −30.3% | 04-12-2025 | 31-03-2026 | 07-09-2026 | 5 months | −10.8% |
| UTI Innovation Fund (Direct) | −29.9% | 11-12-2024 | 23-03-2026 | Not yet | -- | −14.6% |
| BSE TECK TRI | −31.1% | 13-12-2024 | 01-07-2026 | Not yet | -- | −19.2% |
From daily values since 08-11-2024, 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 Digital India Fund (Direct)
UTI Innovation Fund (Direct)
BSE TECK TRI
Against BSE TECK TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Motilal Oswal Digital India Fund (Direct) | 80% | 54% | 21.63% |
| UTI Innovation Fund (Direct) | 69% | 66% | 23.44% |
From month-end values since 08-11-2024. 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 Digital India vs UTI Innovation: Portfolio Overlap
From each fund's latest monthly portfolio: Motilal Oswal Digital India Fund, September 2026; UTI Innovation Fund, September 2026
Holdings in common
- Overlap
- 29.8%
- Held by both
- 10
- Only in Motilal Oswal Digital India
- 17
- Only in UTI Innovation
- 22
| Security | % of Motilal Oswal Digital India | % of UTI Innovation |
|---|---|---|
| Eternal Limited | 6.37% | 9.39% |
| One 97 Communications Limited | 5.48% | 4.83% |
| Info Edge India Ltd | 3.69% | 9.07% |
| Rategain Travel Technologies Limited | 3.12% | 4.44% |
| PB Fintech Limited | 4.20% | 3.05% |
| Meesho Ltd | 3.36% | 2.36% |
| Billionbrains Garage Ventures Ltd | 3.40% | 2.30% |
| C.E. Info Systems Limited | 2.35% | 1.68% |
| Urban Company Ltd | 2.92% | 1.47% |
| Fractal Analytics Ltd | 1.68% | 0.91% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 29.8% means 29.8% 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 Digital India Fund
| Security | % of fund |
|---|---|
| ESDS Software Solution Ltd | 15.73% |
| Coforge Limited | 5.65% |
| Hexaware Technologies Limited | 4.75% |
| Firstsource Solutions Limited | 4.29% |
| Zensar Technologies Limited | 4.19% |
Largest holdings only in UTI Innovation Fund
| Security | % of fund |
|---|---|
| EQ - FSN E-COMMERCE VENTURES(NYKAA) | 6.15% |
| EQ - AFFLE 3I LIMITED | 5.74% |
| EQ - ACUTAAS CHEMICALS LIMITED | 4.92% |
| EQ - NAZARA TECHNOLOGIES LTD | 3.20% |
| EQ - GRAVITA INDIA LTD. | 3.06% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Motilal Oswal Digital India | UTI Innovation |
|---|---|---|
| Equity | 93.4% | 96.2% |
| Debt | 0.0% | 0.0% |
| Cash and others | 6.6% | 3.8% |
Market cap of stocks
| Market cap | Motilal Oswal Digital India | UTI Innovation |
|---|---|---|
| Large Cap | 9.8% | 13.7% |
| Mid Cap | 22.4% | 32.7% |
| Small Cap | 45.5% | 47.6% |
| Not on AMFI's list | 15.7% | 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 | Motilal Oswal Digital India | UTI Innovation |
|---|---|---|
| Retailing | 16.3% | 30.1% |
| IT - Software | 29.0% | 15.8% |
| IT - Services | 17.7% | 7.0% |
| Financial Technology (Fintech) | 12.1% | 7.9% |
| Commercial Services & Supplies | 9.7% | 1.7% |
| Pharmaceuticals & Biotechnology | 0.0% | 6.9% |
| Electrical Equipment | 2.1% | 4.7% |
| Capital Markets | 3.4% | 2.3% |
The six largest sectors of each fund's stocks, % of the fund.
Motilal Oswal Digital India vs UTI Innovation: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Motilal Oswal Digital India Fund | UTI Innovation Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.06% | 1.26% |
| Base expense ratio (Direct) | 0.74% | 0.96% |
| Total expense ratio (Regular) | 2.35% | 2.43% |
| Base expense ratio (Regular) | 1.93% | 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
Compare Motilal Oswal Digital India with
Motilal Oswal Digital India Fund vs UTI Innovation Fund: Frequently Asked Questions
What is the difference between Motilal Oswal Digital India Fund and UTI Innovation Fund?
Motilal Oswal Digital India Fund is a Thematic fund, UTI Innovation Fund is a Thematic fund, run by Motilal Oswal Mutual Fund and UTI Mutual Fund. Their portfolios overlap 29.8%. Motilal Oswal Digital India Fund charges 1.06% a year and UTI Innovation Fund 1.26%.
Which has given higher returns, Motilal Oswal Digital India Fund or UTI Innovation Fund?
Over 1 year: Motilal Oswal Digital India Fund −2.68%, UTI Innovation Fund −9.51%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Motilal Oswal Digital India Fund or UTI Innovation Fund?
Motilal Oswal Digital India Fund charges less: 1.06% a year against 1.26%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Motilal Oswal Digital India Fund and UTI Innovation Fund overlap?
29.8%. They hold 10 of the same securities, the largest shared ones being ETERNAL, PAYTM, NAUKRI. From each fund's latest monthly portfolio.
Can I invest in both Motilal Oswal Digital India Fund and UTI Innovation Fund?
Yes. 29.8% 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.