Motilal Oswal Innovation Opportunities Fund vs Motilal Oswal Manufacturing Fund
Direct Plan, Growth option · Data as on 30-10-2026
Motilal Oswal Innovation Opportunities Fund is a Thematic fund and Motilal Oswal Manufacturing Fund is a Thematic fund. In the year to 30-10-2026, Motilal Oswal Innovation Opportunities Fund (Direct) returned 1.6% and Motilal Oswal Manufacturing Fund (Direct) returned −3.9%. Motilal Oswal Innovation Opportunities Fund charges 1.29% a year and Motilal Oswal Manufacturing Fund 1.93% (Direct plans). Their portfolios overlap 17.8%: they hold 8 of the same securities.
Motilal Oswal Innovation Opportunities Fund
Thematic
- 1 year return
- 1.6%
- Expense ratio
- 1.29%
- NAV
- ₹13.62
Motilal Oswal Manufacturing Fund
Thematic
- 1 year return
- −3.9%
- Expense ratio
- 1.93%
- NAV
- ₹11.38
Which is better, Motilal Oswal Innovation Opportunities or Motilal Oswal Manufacturing? 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 Innovation Opportunities returned more over 1 year: 1.6% against −3.9%.
- Motilal Oswal Innovation Opportunities costs less: 1.29% a year against 1.93% (Direct plans).
- Motilal Oswal Manufacturing fell less in its worst fall since 24-02-2025: −18.1% against −19.4%.
- Motilal Oswal Manufacturing holds more in large companies: 40.6% of the fund in large caps against 14.0%.
- Motilal Oswal Innovation Opportunities is the larger fund: ₹856 Cr against ₹669 Cr.
- Their portfolios overlap 17.8%: 8 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 Innovation Opportunities Fund | Motilal Oswal Manufacturing Fund |
|---|---|---|
| Fund house | Motilal Oswal Mutual Fund | Motilal Oswal Mutual Fund |
| Category | Thematic | Thematic |
| AUM | ₹856 Cr (30-09-2026) | ₹669 Cr (30-09-2026) |
| NAV | ₹13.62 (Direct) | ₹11.38 (Direct) |
| Expense ratio (Direct) | 1.29% | 1.93% |
| Expense ratio (Regular) | 2.60% | 3.22% |
| Riskometer | Not available | Very High |
| Benchmark | Not available | Nifty India Manufacturing TRI |
| Launch date | Not available | 08-08-2024 |
| Minimum investment | Not available | ₹500 |
| Lock in | Not available | None |
| Fund managers | Not available | Ajay Khandelwal, Niket Shah, Santosh Singh, Atul Mehra, Rakesh Shetty, Sunil Sawant |
| Exit load | Not available | 1% - If redeemed on or before 3 Months from the date of allotment. Nil - If redeemed after 3 Months from the date of allotment. |
Motilal Oswal Innovation Opportunities vs Motilal Oswal Manufacturing: 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 Innovation Opportunities Fund (Direct) | −7.28% | −5.22% | +8.32% | +1.58% | -- | -- | -- |
| Motilal Oswal Manufacturing Fund (Direct) | −2.50% | −1.74% | +1.46% | −3.90% | -- | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | -- | -- | -- |
Category average: the average of the 235 Thematic funds, same plan type.
Motilal Oswal Innovation Opportunities vs Motilal Oswal Manufacturing: Year-wise Returns
| Year | Innovation OpportunitiesMotilal Oswal Innovation Opportunities | ManufacturingMotilal Oswal Manufacturing |
|---|---|---|
| 2026to date | +8.28% | −0.16% |
| 2025 | -- | −3.72% |
Motilal Oswal Innovation Opportunities vs Motilal Oswal Manufacturing: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of Motilal Oswal Innovation Opportunities Fund
Rolling returns
Every 1-year holding period, 167 of them, one for each trading day from 24-02-2026 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 Innovation Opportunities Fund (Direct)
Motilal Oswal Manufacturing Fund (Direct)
Nifty 500 TRI
to
Mar 2026Apr 2025
to
Apr 2026Jun 2025
to
Jun 2026Jul 2025
to
Jul 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 Innovation Opportunities | 0.0 | 6.6 | 10.8 | 42.5 | 36.5 | 3.6 | 0.0 | 13.3% | 14.3% | 1.6% | 20.9% | 100% |
| Motilal Oswal Manufacturing | 20.4 | 37.7 | 26.3 | 10.2 | 3.6 | 1.8 | 0.0 | 4.5% | 3.5% | −7.5% | 22.3% | 93% |
| Nifty 500 TRI | 35.3 | 39.5 | 19.2 | 3.6 | 2.4 | 0.0 | 0.0 | 1.9% | 1.2% | −9.0% | 15.9% | -- |
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 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 24-02-2025. Past returns do not promise future returns.
Motilal Oswal Innovation Opportunities vs Motilal Oswal Manufacturing: 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 24-02-2025 to 30-10-2026: 21 instalments, ₹2,10,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Motilal Oswal Innovation OpportunitiesMotilal Oswal Innovation Opportunities Fund (Direct) | ₹2,10,000 | ₹2,31,917 | ₹21,917 | 11.4% |
| Motilal Oswal ManufacturingMotilal Oswal Manufacturing Fund (Direct) | ₹2,10,000 | ₹2,16,591 | ₹6,591 | 3.4% |
Motilal Oswal Innovation OpportunitiesMotilal Oswal Innovation Opportunities Fund (Direct)
Motilal Oswal ManufacturingMotilal Oswal Manufacturing 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 Innovation Opportunities vs Motilal Oswal Manufacturing: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Motilal Oswal Innovation Opportunities Fund (Direct) | Motilal Oswal Manufacturing Fund (Direct) |
|---|---|---|
| Return (CAGR) | +1.58% | −3.90% |
| Standard deviation | 18.88% | 17.13% |
| Sharpe ratio | -0.19 | -0.53 |
| Sortino ratio | -0.27 | -0.72 |
| Maximum drawdown | −19.1% (31-03-2026) | −15.3% (31-03-2026) |
| Beta | 1.11 | 0.98 |
| Alpha | +10.27% | −2.36% |
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 Innovation Opportunities Fund (Direct) | Motilal Oswal Manufacturing Fund (Direct) |
|---|---|---|
| Return (CAGR) | +20.12% | +5.67% |
| Standard deviation | 17.30% | 19.31% |
| Sharpe ratio | 0.85 | -0.00 |
| Sortino ratio | 1.23 | -0.01 |
| Maximum drawdown | −19.4% (31-03-2026) | −26.2% (28-02-2025) |
| Beta | 1.05 | 1.05 |
| Alpha | +15.01% | +4.03% |
From daily NAVs, 24-02-2025 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.
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 Innovation Opportunities Fund (Direct)
Motilal Oswal Manufacturing 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 Innovation Opportunities Fund (Direct) | −19.4% | 29-10-2025 | 31-03-2026 | 15-06-2026 | 2 months | −11.5% |
| Motilal Oswal Manufacturing Fund (Direct) | −18.1% | 17-09-2025 | 31-03-2026 | Not yet | -- | −7.3% |
| Nifty 500 TRI | −14.7% | 02-01-2026 | 30-03-2026 | Not yet | -- | −8.4% |
From daily values since 24-02-2025, 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 Innovation Opportunities Fund (Direct)
Motilal Oswal Manufacturing Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Motilal Oswal Innovation Opportunities Fund (Direct) | 144% | 86% | 12.44% |
| Motilal Oswal Manufacturing Fund (Direct) | 126% | 85% | 11.69% |
From month-end values since 24-02-2025. 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 Innovation Opportunities vs Motilal Oswal Manufacturing: Portfolio Overlap
From each fund's latest monthly portfolio: Motilal Oswal Innovation Opportunities Fund, September 2026; Motilal Oswal Manufacturing Fund, September 2026
Holdings in common
- Overlap
- 17.8%
- Held by both
- 8
- Only in Motilal Oswal Innovation Opportunities
- 25
- Only in Motilal Oswal Manufacturing
- 25
| Security | % of Motilal Oswal Innovation Opportunities | % of Motilal Oswal Manufacturing |
|---|---|---|
| UNO Minda Limited | 3.26% | 4.41% |
| Solar Industries India Limited | 3.15% | 7.13% |
| Garware Hi-Tech Films Limited | 3.04% | 4.13% |
| ABB India Limited | 2.72% | 5.63% |
| TD Power Systems Ltd | 2.15% | 3.19% |
| PG Electroplast Limited | 2.03% | 1.88% |
| Ola Electric Mobility Ltd | 2.39% | 1.48% |
| ESDS Software Solution Ltd | 4.58% | 0.09% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 17.8% means 17.8% 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 Innovation Opportunities Fund
| Security | % of fund |
|---|---|
| Coforge Limited | 4.76% |
| RBL Bank Limited | 4.15% |
| InterGlobe Aviation Limited | 4.08% |
| CG Power and Industrial Solutions Limited | 4.02% |
| Syrma SGS Technology Ltd | 3.98% |
Largest holdings only in Motilal Oswal Manufacturing Fund
| Security | % of fund |
|---|---|
| Bosch Limited | 5.12% |
| Samvardhana Motherson International Limited | 4.93% |
| Sun Pharmaceutical Industries Limited | 4.55% |
| Divi's Laboratories Limited | 4.03% |
| Anthem Biosciences Limited | 4.00% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Motilal Oswal Innovation Opportunities | Motilal Oswal Manufacturing |
|---|---|---|
| Equity | 93.8% | 95.5% |
| Debt | 0.0% | 0.0% |
| Cash and others | 6.2% | 4.5% |
Market cap of stocks
| Market cap | Motilal Oswal Innovation Opportunities | Motilal Oswal Manufacturing |
|---|---|---|
| Large Cap | 14.0% | 40.6% |
| Mid Cap | 14.8% | 24.0% |
| Small Cap | 55.5% | 21.8% |
| Not on AMFI's list | 9.5% | 9.1% |
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 Innovation Opportunities | Motilal Oswal Manufacturing |
|---|---|---|
| Electrical Equipment | 12.2% | 19.4% |
| Pharmaceuticals & Biotechnology | 2.3% | 18.0% |
| Auto Components | 4.1% | 16.6% |
| Chemicals & Petrochemicals | 5.3% | 11.8% |
| Consumer Durables | 8.4% | 6.8% |
| IT - Software | 8.2% | 0.0% |
| Industrial Products | 5.0% | 7.7% |
| Healthcare Services | 6.6% | 0.0% |
| Retailing | 5.3% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
Motilal Oswal Innovation Opportunities vs Motilal Oswal Manufacturing: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Motilal Oswal Innovation Opportunities Fund | Motilal Oswal Manufacturing Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.29% | 1.93% |
| Base expense ratio (Direct) | 0.75% | 0.87% |
| Total expense ratio (Regular) | 2.60% | 3.22% |
| Base expense ratio (Regular) | 1.99% | 2.06% |
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.
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Motilal Oswal Innovation Opportunities Fund vs Motilal Oswal Manufacturing Fund: Frequently Asked Questions
What is the difference between Motilal Oswal Innovation Opportunities Fund and Motilal Oswal Manufacturing Fund?
Motilal Oswal Innovation Opportunities Fund is a Thematic fund, Motilal Oswal Manufacturing Fund is a Thematic fund, run by Motilal Oswal Mutual Fund. Their portfolios overlap 17.8%. Motilal Oswal Innovation Opportunities Fund charges 1.29% a year and Motilal Oswal Manufacturing Fund 1.93%.
Which has given higher returns, Motilal Oswal Innovation Opportunities Fund or Motilal Oswal Manufacturing Fund?
Over 1 year: Motilal Oswal Innovation Opportunities Fund +1.58%, Motilal Oswal Manufacturing Fund −3.90%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Motilal Oswal Innovation Opportunities Fund or Motilal Oswal Manufacturing Fund?
Motilal Oswal Innovation Opportunities Fund charges less: 1.29% a year against 1.93%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Motilal Oswal Innovation Opportunities Fund and Motilal Oswal Manufacturing Fund overlap?
17.8%. They hold 8 of the same securities, the largest shared ones being UNOMINDA, SOLARINDS, GRWRHITECH. From each fund's latest monthly portfolio.
Can I invest in both Motilal Oswal Innovation Opportunities Fund and Motilal Oswal Manufacturing Fund?
Yes. 17.8% 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.