Motilal Oswal ELSS Tax Saver Fund vs Motilal Oswal Large and Midcap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Motilal Oswal ELSS Tax Saver Fund is an ELSS fund and Motilal Oswal Large and Midcap Fund is a Large & Mid Cap fund. In the 3 years to 30-10-2026, Motilal Oswal ELSS Tax Saver Fund (Direct) returned 19.5% a year and Motilal Oswal Large and Midcap Fund (Direct) returned 20.6% a year. Motilal Oswal ELSS Tax Saver Fund charges 0.97% a year and Motilal Oswal Large and Midcap Fund 0.90% (Direct plans). Their portfolios overlap 59.3%: they hold 20 of the same securities.
Motilal Oswal ELSS Tax Saver Fund
ELSS
- 3 year return
- 19.5%
- Expense ratio
- 0.97%
- NAV
- ₹61.46
Motilal Oswal Large and Midcap Fund
Large & Mid Cap
- 3 year return
- 20.6%
- Expense ratio
- 0.90%
- NAV
- ₹38.56
Which is better, Motilal Oswal ELSS Tax Saver or Motilal Oswal Large and Midcap? 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 Large and Midcap returned more over 5 years: 17.4% a year against 15.7%.
- Motilal Oswal Large and Midcap returned more over 3 years: 20.6% a year against 19.5%.
- Motilal Oswal Large and Midcap costs less: 0.90% a year against 0.97% (Direct plans).
- Motilal Oswal Large and Midcap swung less over 3 years: a standard deviation of 19.3% a year against 19.4%.
- Motilal Oswal Large and Midcap fell less in its worst fall since 22-10-2019: −37.4% against −37.7%.
- Motilal Oswal Large and Midcap holds more in large companies: 35.7% of the fund in large caps against 9.5%.
- Motilal Oswal Large and Midcap is the larger fund: ₹19,832 Cr against ₹4,890 Cr.
- Their portfolios overlap 59.3%: 20 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 ELSS Tax Saver Fund | Motilal Oswal Large and Midcap Fund |
|---|---|---|
| Fund house | Motilal Oswal Mutual Fund | Motilal Oswal Mutual Fund |
| Category | ELSS | Large & Mid Cap |
| AUM | ₹4,890 Cr (30-09-2026) | ₹19,832 Cr (30-09-2026) |
| NAV | ₹61.46 (Direct) | ₹38.56 (Direct) |
| Expense ratio (Direct) | 0.97% | 0.90% |
| Expense ratio (Regular) | 2.11% | 1.81% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | Nifty LargeMidcap 250 TRI |
| Launch date | 21-01-2015 | 17-10-2019 |
| Minimum investment | ₹500 | INF247L01981 |
| Lock in | 3 years | None |
| Fund managers | Aditya Khemani, Abhiroop Mukherjee | Aditya Khemani, Rakesh Shetty, Sunil Sawant |
| Exit load | Nil | Exit load of 1%, if redeemed within 365 days. |
Motilal Oswal ELSS Tax Saver vs Motilal Oswal Large and Midcap: 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 ELSS Tax Saver Fund (Direct) | −4.64% | −1.85% | −0.84% | +0.93% | +19.52% | +15.67% | +16.08% |
| Motilal Oswal Large and Midcap Fund (Direct) | −3.30% | +0.01% | +2.01% | +0.26% | +20.59% | +17.43% | -- |
| ELSS average | −2.34% | −5.61% | −1.63% | −5.75% | +10.92% | +10.29% | +13.05% |
| Large & Mid Cap average | −1.78% | −5.20% | −0.43% | −3.99% | +13.28% | +11.36% | -- |
Category average: the average of the 50 ELSS funds and the 36 Large & Mid Cap funds, same plan type.
Motilal Oswal ELSS Tax Saver vs Motilal Oswal Large and Midcap: Year-wise Returns
| Year | ELSS Tax SaverMotilal Oswal ELSS Tax Saver | Large and MidcapMotilal Oswal Large and Midcap |
|---|---|---|
| 2026to date | +5.59% | +5.59% |
| 2025 | −8.00% | −3.12% |
| 2024 | +49.50% | +48.05% |
| 2023 | +38.71% | +40.01% |
| 2022 | +3.03% | +3.20% |
| 2021 | +33.77% | +43.22% |
Motilal Oswal ELSS Tax Saver vs Motilal Oswal Large and Midcap: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of Motilal Oswal ELSS Tax Saver Fund
Rolling returns
Every 3-year holding period, 988 of them, one for each trading day from 25-10-2022 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 ELSS Tax Saver Fund (Direct)
Motilal Oswal Large and Midcap Fund (Direct)
Nifty 500 TRI
to
Feb 2023Oct 2020
to
Oct 2023Jul 2021
to
Jul 2024Mar 2022
to
Mar 2025Nov 2022
to
Nov 2025Jul 2023
to
Jul 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 ELSS Tax Saver | 0.0 | 0.0 | 0.0 | 4.9 | 6.7 | 39.4 | 49.1 | 24.4% | 24.9% | 12.5% | 34.4% | 86% |
| Motilal Oswal Large and Midcap | 0.0 | 0.0 | 0.0 | 0.0 | 7.8 | 23.2 | 69.0 | 26.6% | 27.1% | 16.2% | 36.7% | 100% |
| Nifty 500 TRI | 0.0 | 0.0 | 1.9 | 19.1 | 52.9 | 18.2 | 7.8 | 18.1% | 17.6% | 8.8% | 33.5% | -- |
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 500 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 22-10-2019. Past returns do not promise future returns.
Motilal Oswal ELSS Tax Saver vs Motilal Oswal Large and Midcap: 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 01-10-2019 to 30-10-2026: 85 instalments, ₹8,50,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Motilal Oswal ELSS Tax SaverMotilal Oswal ELSS Tax Saver Fund (Direct) | ₹8,50,000 | ₹16,52,097 | ₹8,02,097 | 18.4% |
| Motilal Oswal Large and MidcapMotilal Oswal Large and Midcap Fund (Direct) | ₹8,50,000 | ₹17,94,529 | ₹9,44,529 | 20.7% |
Motilal Oswal ELSS Tax SaverMotilal Oswal ELSS Tax Saver Fund (Direct)
Motilal Oswal Large and MidcapMotilal Oswal Large and Midcap 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 ELSS Tax Saver vs Motilal Oswal Large and Midcap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Motilal Oswal ELSS Tax Saver Fund (Direct) | Motilal Oswal Large and Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +0.93% | +0.26% |
| Standard deviation | 18.70% | 19.32% |
| Sharpe ratio | -0.23 | -0.26 |
| Sortino ratio | -0.32 | -0.36 |
| Maximum drawdown | −14.4% (31-03-2026) | −15.9% (31-03-2026) |
| Beta | 1.04 | 1.14 |
| Alpha | +8.72% | +8.32% |
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 ELSS Tax Saver Fund (Direct) | Motilal Oswal Large and Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +19.52% | +20.59% |
| Standard deviation | 19.39% | 19.31% |
| Sharpe ratio | 0.70 | 0.75 |
| Sortino ratio | 0.95 | 1.03 |
| Maximum drawdown | −27.7% (03-03-2025) | −26.1% (03-03-2025) |
| Beta | 1.14 | 1.15 |
| Alpha | +8.70% | +8.24% |
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 ELSS Tax Saver Fund (Direct) | Motilal Oswal Large and Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.67% | +17.43% |
| Standard deviation | 17.64% | 17.66% |
| Sharpe ratio | 0.56 | 0.66 |
| Sortino ratio | 0.76 | 0.89 |
| Maximum drawdown | −27.7% (03-03-2025) | −26.1% (03-03-2025) |
| Beta | 1.06 | 1.06 |
| Alpha | +6.67% | +6.53% |
From daily NAVs, 29-10-2021 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 ELSS Tax Saver Fund (Direct) | Motilal Oswal Large and Midcap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +16.58% | +20.80% |
| Standard deviation | 17.49% | 19.24% |
| Sharpe ratio | 0.63 | 0.81 |
| Sortino ratio | 0.84 | 1.08 |
| Maximum drawdown | −37.7% (23-03-2020) | −37.4% (23-03-2020) |
| Beta | 0.99 | 1.02 |
| Alpha | +5.43% | +4.31% |
From daily NAVs, 22-01-2015 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 ELSS Tax Saver Fund (Direct)
Motilal Oswal Large and Midcap Fund (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Motilal Oswal ELSS Tax Saver Fund (Direct) | −37.7% | 07-02-2020 | 23-03-2020 | 07-12-2020 | 9 months | −9.5% |
| Motilal Oswal Large and Midcap Fund (Direct) | −37.4% | 20-02-2020 | 23-03-2020 | 24-11-2020 | 8 months | −8.0% |
| Nifty 500 TRI | −38.1% | 17-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −8.8% |
From daily values since 22-10-2019, 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 ELSS Tax Saver Fund (Direct)
Motilal Oswal Large and Midcap Fund (Direct)
Nifty 500 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 ELSS Tax Saver Fund (Direct)
Motilal Oswal Large and Midcap Fund (Direct)
Nifty 500 TRI
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 5-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Motilal Oswal ELSS Tax Saver Fund (Direct)
Motilal Oswal Large and Midcap Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Motilal Oswal ELSS Tax Saver Fund (Direct) | 113% | 99% | 9.73% |
| Motilal Oswal Large and Midcap Fund (Direct) | 117% | 90% | 9.62% |
From month-end values since 22-10-2019. 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 ELSS Tax Saver vs Motilal Oswal Large and Midcap: Portfolio Overlap
From each fund's latest monthly portfolio: Motilal Oswal ELSS Tax Saver Fund, September 2026; Motilal Oswal Large and Midcap Fund, September 2026
Holdings in common
- Overlap
- 59.3%
- Held by both
- 20
- Only in Motilal Oswal ELSS Tax Saver
- 10
- Only in Motilal Oswal Large and Midcap
- 14
| Security | % of Motilal Oswal ELSS Tax Saver | % of Motilal Oswal Large and Midcap |
|---|---|---|
| One 97 Communications Limited | 4.80% | 6.11% |
| PTC Industries Ltd | 5.23% | 4.73% |
| Multi Commodity Exchange of India Limited | 5.74% | 4.60% |
| Sterlite Technologies Limited | 4.54% | 4.32% |
| Gujarat Fluorochemicals Limited | 4.22% | 3.99% |
| Apar Industries Limited | 3.91% | 4.02% |
| Shriram Finance Limited | 3.42% | 4.13% |
| Muthoot Finance Limited | 3.29% | 4.04% |
| Zen Technologies Limited | 3.91% | 3.09% |
| Onesource Specialty Pharma Limited | 3.39% | 2.86% |
| Premier Energies Limited | 2.58% | 3.14% |
| Ola Electric Mobility Ltd | 2.57% | 2.63% |
| Waaree Energies Limited | 2.91% | 2.56% |
| Billionbrains Garage Ventures Ltd | 2.75% | 2.36% |
| Ather Energy Limited | 3.79% | 2.32% |
| Jain Resource Recycling Limited | 3.32% | 2.20% |
| Suzlon Energy Limited | 2.05% | 2.66% |
| Bharat Dynamics Limited | 1.64% | 1.75% |
| Cemindia Projects Ltd | 1.55% | 1.41% |
| Religare Enterprises Limited | 0.65% | 0.64% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 59.3% means 59.3% 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 ELSS Tax Saver Fund
| Security | % of fund |
|---|---|
| MTAR Technologies Limited | 4.32% |
| Shaily Engineering Plastics Limited | 4.18% |
| S.J.S. Enterprises Limited | 3.88% |
| ESDS Software Solution Ltd | 2.98% |
| Piramal Finance Limited | 2.88% |
Largest holdings only in Motilal Oswal Large and Midcap Fund
| Security | % of fund |
|---|---|
| Eternal Limited | 4.95% |
| GE Vernova T&D India Limited | 3.15% |
| Meesho Ltd | 3.11% |
| CG Power and Industrial Solutions Limited | 2.87% |
| Samvardhana Motherson International Limited | 2.51% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Motilal Oswal ELSS Tax Saver | Motilal Oswal Large and Midcap |
|---|---|---|
| Equity | 96.6% | 96.7% |
| Debt | 0.0% | 0.0% |
| Cash and others | 3.4% | 3.3% |
Market cap of stocks
| Market cap | Motilal Oswal ELSS Tax Saver | Motilal Oswal Large and Midcap |
|---|---|---|
| Large Cap | 9.5% | 35.7% |
| Mid Cap | 35.6% | 35.2% |
| Small Cap | 48.6% | 25.8% |
| Not on AMFI's list | 3.0% | 0.0% |
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 ELSS Tax Saver | Motilal Oswal Large and Midcap |
|---|---|---|
| Electrical Equipment | 15.8% | 18.4% |
| Finance | 10.2% | 10.9% |
| Capital Markets | 10.7% | 7.0% |
| Retailing | 0.0% | 9.7% |
| Aerospace & Defense | 7.8% | 7.0% |
| Industrial Products | 7.7% | 4.7% |
| Consumer Durables | 6.9% | 2.4% |
| Chemicals & Petrochemicals | 4.2% | 6.4% |
The six largest sectors of each fund's stocks, % of the fund.
Motilal Oswal ELSS Tax Saver vs Motilal Oswal Large and Midcap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Motilal Oswal ELSS Tax Saver Fund | Motilal Oswal Large and Midcap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.97% | 0.90% |
| Base expense ratio (Direct) | 0.61% | 0.60% |
| Total expense ratio (Regular) | 2.11% | 1.81% |
| Base expense ratio (Regular) | 1.62% | 1.42% |
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 ELSS Tax Saver with
Motilal Oswal ELSS Tax Saver Fund vs Motilal Oswal Large and Midcap Fund: Frequently Asked Questions
What is the difference between Motilal Oswal ELSS Tax Saver Fund and Motilal Oswal Large and Midcap Fund?
Motilal Oswal ELSS Tax Saver Fund is an ELSS fund, Motilal Oswal Large and Midcap Fund is a Large & Mid Cap fund, run by Motilal Oswal Mutual Fund. Their portfolios overlap 59.3%. Motilal Oswal ELSS Tax Saver Fund charges 0.97% a year and Motilal Oswal Large and Midcap Fund 0.90%.
Which has given higher returns, Motilal Oswal ELSS Tax Saver Fund or Motilal Oswal Large and Midcap Fund?
Over 1 year: Motilal Oswal ELSS Tax Saver Fund +0.93%, Motilal Oswal Large and Midcap Fund +0.26%. Over 3 years: Motilal Oswal ELSS Tax Saver Fund +19.52% a year, Motilal Oswal Large and Midcap Fund +20.59% a year. Over 5 years: Motilal Oswal ELSS Tax Saver Fund +15.67% a year, Motilal Oswal Large and Midcap Fund +17.43% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Motilal Oswal ELSS Tax Saver Fund or Motilal Oswal Large and Midcap Fund?
Motilal Oswal Large and Midcap Fund charges less: 0.90% a year against 0.97%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Motilal Oswal ELSS Tax Saver Fund and Motilal Oswal Large and Midcap Fund overlap?
59.3%. They hold 20 of the same securities, the largest shared ones being PAYTM, PTCIL, MCX. From each fund's latest monthly portfolio.
Which is riskier, Motilal Oswal ELSS Tax Saver Fund or Motilal Oswal Large and Midcap Fund?
On SEBI's riskometer, Motilal Oswal ELSS Tax Saver Fund is rated Very High and Motilal Oswal Large and Midcap Fund Very High. Over 3 years, the standard deviation of daily returns was 19.39% and 19.31% a year.
Which is better for SIP, Motilal Oswal ELSS Tax Saver Fund or Motilal Oswal Large and Midcap Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹9,17,701 in Motilal Oswal ELSS Tax Saver Fund (XIRR 16.1% a year) and ₹9,61,391 in Motilal Oswal Large and Midcap Fund (XIRR 18.0% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Motilal Oswal ELSS Tax Saver Fund and Motilal Oswal Large and Midcap Fund?
Yes. 59.3% 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 ELSS Tax Saver Fund and Motilal Oswal Large and Midcap Fund?
Motilal Oswal ELSS Tax Saver Fund: Aditya Khemani, Abhiroop Mukherjee. Motilal Oswal Large and Midcap Fund: Aditya Khemani, Rakesh Shetty, Sunil Sawant.
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.