Motilal Oswal Flexi Cap Fund vs Motilal Oswal Special Opportunities Fund
Direct Plan, Growth option · Data as on 30-10-2026
Motilal Oswal Flexi Cap Fund is a Flexi Cap fund and Motilal Oswal Special Opportunities Fund is a Thematic fund. In the year to 30-10-2026, Motilal Oswal Flexi Cap Fund (Direct) returned −3.8% and Motilal Oswal Special Opportunities Fund (Direct) returned 10.3%. Motilal Oswal Flexi Cap Fund charges 1.19% a year and Motilal Oswal Special Opportunities Fund 2.86% (Direct plans). Their portfolios overlap 29.8%: they hold 9 of the same securities.
Motilal Oswal Flexi Cap Fund
Flexi Cap
- 1 year return
- −3.8%
- Expense ratio
- 1.19%
- NAV
- ₹67.61
Motilal Oswal Special Opportunities Fund
Thematic
- 1 year return
- 10.3%
- Expense ratio
- 2.86%
- NAV
- ₹11.99
Which is better, Motilal Oswal Flexi Cap or Motilal Oswal Special Opportunities? 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 Special Opportunities returned more over 1 year: 10.3% against −3.8%.
- Motilal Oswal Flexi Cap costs less: 1.19% a year against 2.86% (Direct plans).
- Motilal Oswal Special Opportunities fell less in its worst fall since 21-08-2025: −15.2% against −20.3%.
- Motilal Oswal Flexi Cap holds more in large companies: 33.2% of the fund in large caps against 11.5%.
- Motilal Oswal Flexi Cap is the larger fund: ₹13,446 Cr against ₹108 Cr.
- Their portfolios overlap 29.8%: 9 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 Flexi Cap Fund | Motilal Oswal Special Opportunities Fund |
|---|---|---|
| Fund house | Motilal Oswal Mutual Fund | Motilal Oswal Mutual Fund |
| Category | Flexi Cap | Thematic |
| AUM | ₹13,446 Cr (30-09-2026) | ₹108 Cr (30-09-2026) |
| NAV | ₹67.61 (Direct) | ₹11.99 (Direct) |
| Expense ratio (Direct) | 1.19% | 2.86% |
| Expense ratio (Regular) | 2.02% | 2.98% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | Nifty 500 TRI |
| Launch date | 28-04-2014 | 14-08-2025 |
| Minimum investment | ₹500 | ₹500 |
| Lock in | None | None |
| Fund managers | Ankit Agarwal, Varun Sharma, Ajay Khandelwal, Atul Mehra, Rakesh Shetty, Swapnil Mayekar | Ajay Khandelwal, Atul Mehra, Bhalchandra Shinde, Rakesh Shetty |
| Exit load | Exit load of 1%, if redeemed within 365 days. | 1% - If redeemed within 3 months from the day of allotment. Nil - If redeemed after 3 months from the date of allotment. |
Motilal Oswal Flexi Cap vs Motilal Oswal Special Opportunities: 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 Flexi Cap Fund (Direct) | −1.70% | −1.19% | +8.85% | −3.83% | +16.84% | +12.46% | +12.24% |
| Motilal Oswal Special Opportunities Fund (Direct) | −4.34% | +2.62% | +10.04% | +10.26% | -- | -- | -- |
| Flexi Cap average | −1.62% | −4.17% | +1.00% | −3.58% | +12.37% | +10.04% | +13.13% |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | -- | -- | -- |
Category average: the average of the 46 Flexi Cap funds and the 235 Thematic funds, same plan type.
Motilal Oswal Flexi Cap vs Motilal Oswal Special Opportunities: Year-wise Returns
| Year | Flexi CapMotilal Oswal Flexi Cap | Special OpportunitiesMotilal Oswal Special Opportunities | Nifty 500 TRI |
|---|---|---|---|
| 2026to date | +0.83% | +12.12% | −7.51% |
| 2025 | −4.82% | -- | +7.76% |
| 2024 | +46.96% | -- | +16.24% |
| 2023 | +32.08% | -- | +26.91% |
| 2022 | −2.14% | -- | +4.25% |
| 2021 | +16.33% | -- | +31.60% |
Motilal Oswal Flexi Cap vs Motilal Oswal Special Opportunities: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of both
Rolling returns
Every 1-year holding period, 46 of them, one for each trading day from 21-08-2026 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.
Motilal Oswal Flexi Cap Fund (Direct)
Motilal Oswal Special Opportunities Fund (Direct)
Nifty 500 TRI
to
Aug 2026Sept 2025
to
Sept 2026Sept 2025
to
Sept 2026Oct 2025
to
Oct 2026Oct 2025
to
Oct 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 Flexi Cap | 32.6 | 58.7 | 8.7 | 0.0 | 0.0 | 0.0 | 0.0 | 1.1% | 2.0% | −6.7% | 7.4% | 91% |
| Motilal Oswal Special Opportunities | 0.0 | 0.0 | 6.5 | 8.7 | 26.1 | 58.7 | 0.0 | 19.6% | 21.0% | 7.7% | 24.2% | 100% |
| Nifty 500 TRI | 67.4 | 28.3 | 4.3 | 0.0 | 0.0 | 0.0 | 0.0 | −1.7% | −2.0% | −9.0% | 5.3% | -- |
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 21-08-2025. Past returns do not promise future returns.
Motilal Oswal Flexi Cap vs Motilal Oswal Special Opportunities: 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 01-08-2025 to 30-10-2026: 15 instalments, ₹1,50,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Motilal Oswal Flexi CapMotilal Oswal Flexi Cap Fund (Direct) | ₹1,50,000 | ₹1,53,465 | ₹3,465 | 3.5% |
| Motilal Oswal Special OpportunitiesMotilal Oswal Special Opportunities Fund (Direct) | ₹1,50,000 | ₹1,65,658 | ₹15,658 | 16.1% |
Motilal Oswal Flexi CapMotilal Oswal Flexi Cap Fund (Direct)
Motilal Oswal Special OpportunitiesMotilal Oswal Special Opportunities 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 Flexi Cap vs Motilal Oswal Special Opportunities: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Motilal Oswal Flexi Cap Fund (Direct) | Motilal Oswal Special Opportunities Fund (Direct) |
|---|---|---|
| Return (CAGR) | −3.83% | +10.26% |
| Standard deviation | 16.70% | 18.44% |
| Sharpe ratio | -0.54 | 0.27 |
| Sortino ratio | -0.74 | 0.37 |
| Maximum drawdown | −19.1% (23-03-2026) | −15.2% (31-03-2026) |
| Beta | 1.02 | 1.05 |
| Alpha | +3.74% | +18.22% |
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 Flexi Cap Fund (Direct) | Motilal Oswal Special Opportunities Fund (Direct) |
|---|---|---|
| Return (CAGR) | +16.56% | +14.45% |
| Standard deviation | 16.70% | 17.41% |
| Sharpe ratio | 0.64 | 0.53 |
| Sortino ratio | 0.87 | 0.73 |
| Maximum drawdown | −37.1% (23-03-2020) | −15.2% (31-03-2026) |
| Beta | 0.96 | 1.04 |
| Alpha | +3.61% | +18.49% |
From daily NAVs, 29-04-2014 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 Flexi Cap Fund (Direct)
Motilal Oswal Special Opportunities 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 Flexi Cap Fund (Direct) | −20.3% | 18-09-2025 | 23-03-2026 | 13-08-2026 | 5 months | −7.1% |
| Motilal Oswal Special Opportunities Fund (Direct) | −15.2% | 18-11-2025 | 31-03-2026 | 06-05-2026 | 36 days | −6.8% |
| Nifty 500 TRI | −14.7% | 02-01-2026 | 30-03-2026 | Not yet | -- | −8.4% |
From daily values since 21-08-2025, 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.
Motilal Oswal Flexi Cap Fund (Direct)
Motilal Oswal Special Opportunities Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Motilal Oswal Flexi Cap Fund (Direct) | 108% | 102% | 8.90% |
| Motilal Oswal Special Opportunities Fund (Direct) | 157% | 64% | 10.47% |
From month-end values since 21-08-2025. 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.
Motilal Oswal Flexi Cap vs Motilal Oswal Special Opportunities: Portfolio Overlap
From each fund's latest monthly portfolio: Motilal Oswal Flexi Cap Fund, September 2026; Motilal Oswal Special Opportunities Fund, September 2026
Holdings in common
- Overlap
- 29.8%
- Held by both
- 9
- Only in Motilal Oswal Flexi Cap
- 22
- Only in Motilal Oswal Special Opportunities
- 16
| Security | % of Motilal Oswal Flexi Cap | % of Motilal Oswal Special Opportunities |
|---|---|---|
| Kalyan Jewellers India Limited | 8.23% | 4.98% |
| Sterlite Technologies Limited | 4.43% | 4.32% |
| Diamond Power Infrastructure Ltd. | 3.97% | 7.51% |
| Aditya Infotech Limited | 3.86% | 5.68% |
| Multi Commodity Exchange of India Limited | 3.77% | 3.56% |
| Onesource Specialty Pharma Limited | 2.71% | 3.28% |
| Samvardhana Motherson International Limited | 2.43% | 5.39% |
| Ola Electric Mobility Ltd | 2.50% | 2.16% |
| Piramal Finance Limited | 1.82% | 4.47% |
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 Flexi Cap Fund
| Security | % of fund |
|---|---|
| Eternal Limited | 6.54% |
| CG Power and Industrial Solutions Limited | 5.65% |
| Coforge Limited | 4.36% |
| Shriram Finance Limited | 3.82% |
| Ather Energy Limited | 3.20% |
Largest holdings only in Motilal Oswal Special Opportunities Fund
| Security | % of fund |
|---|---|
| Lumino Industries Limited | 5.75% |
| Lohia Corp Limited | 5.37% |
| Shadowfax Technologies Limited | 4.16% |
| Raymond Limited | 3.80% |
| Shaily Engineering Plastics Limited | 3.34% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Motilal Oswal Flexi Cap | Motilal Oswal Special Opportunities |
|---|---|---|
| Equity | 96.7% | 91.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 3.3% | 9.0% |
Market cap of stocks
| Market cap | Motilal Oswal Flexi Cap | Motilal Oswal Special Opportunities |
|---|---|---|
| Large Cap | 33.2% | 11.5% |
| Mid Cap | 32.4% | 16.0% |
| Small Cap | 28.6% | 52.4% |
| Not on AMFI's list | 2.5% | 11.1% |
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 Flexi Cap | Motilal Oswal Special Opportunities |
|---|---|---|
| Electrical Equipment | 18.2% | 10.3% |
| Industrial Manufacturing | 3.9% | 17.8% |
| Consumer Durables | 12.9% | 8.3% |
| Industrial Products | 2.0% | 7.8% |
| Finance | 7.8% | 4.5% |
| Capital Markets | 7.7% | 3.6% |
| IT - Software | 7.5% | 0.0% |
| Retailing | 6.5% | 2.0% |
| Auto Components | 2.4% | 5.4% |
The six largest sectors of each fund's stocks, % of the fund.
Motilal Oswal Flexi Cap vs Motilal Oswal Special Opportunities: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Motilal Oswal Flexi Cap Fund | Motilal Oswal Special Opportunities Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.19% | 2.86% |
| Base expense ratio (Direct) | 0.72% | 2.00% |
| Total expense ratio (Regular) | 2.02% | 2.98% |
| Base expense ratio (Regular) | 1.45% | 2.10% |
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 Flexi Cap with
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Motilal Oswal Flexi Cap Fund vs Motilal Oswal Special Opportunities Fund: Frequently Asked Questions
What is the difference between Motilal Oswal Flexi Cap Fund and Motilal Oswal Special Opportunities Fund?
Motilal Oswal Flexi Cap Fund is a Flexi Cap fund, Motilal Oswal Special Opportunities Fund is a Thematic fund, run by Motilal Oswal Mutual Fund. Their portfolios overlap 29.8%. Motilal Oswal Flexi Cap Fund charges 1.19% a year and Motilal Oswal Special Opportunities Fund 2.86%.
Which has given higher returns, Motilal Oswal Flexi Cap Fund or Motilal Oswal Special Opportunities Fund?
Over 1 year: Motilal Oswal Flexi Cap Fund −3.83%, Motilal Oswal Special Opportunities Fund +10.26%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Motilal Oswal Flexi Cap Fund or Motilal Oswal Special Opportunities Fund?
Motilal Oswal Flexi Cap Fund charges less: 1.19% a year against 2.86%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Motilal Oswal Flexi Cap Fund and Motilal Oswal Special Opportunities Fund overlap?
29.8%. They hold 9 of the same securities, the largest shared ones being KALYANKJIL, STLTECH, DIACABS. From each fund's latest monthly portfolio.
Which is riskier, Motilal Oswal Flexi Cap Fund or Motilal Oswal Special Opportunities Fund?
On SEBI's riskometer, Motilal Oswal Flexi Cap Fund is rated Very High and Motilal Oswal Special Opportunities Fund Very High. Over 1 years, the standard deviation of daily returns was 16.70% and 18.44% a year.
Can I invest in both Motilal Oswal Flexi Cap Fund and Motilal Oswal Special Opportunities Fund?
Yes. 29.8% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Motilal Oswal Flexi Cap Fund and Motilal Oswal Special Opportunities Fund?
Motilal Oswal Flexi Cap Fund: Ankit Agarwal, Varun Sharma, Ajay Khandelwal, Atul Mehra, Rakesh Shetty, Swapnil Mayekar. Motilal Oswal Special Opportunities Fund: Ajay Khandelwal, Atul Mehra, Bhalchandra Shinde, 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.