Motilal Oswal Large Cap Fund vs SBI NIFTY Index Fund
Direct Plan, Growth option · Data as on 30-10-2026
Motilal Oswal Large Cap Fund is a Large Cap fund and SBI NIFTY Index Fund is an Index fund. In the year to 30-10-2026, Motilal Oswal Large Cap Fund (Direct) returned −7.1% and SBI NIFTY Index Fund (Direct) returned −10.2%. Motilal Oswal Large Cap Fund charges 0.99% a year and SBI NIFTY Index Fund 0.24% (Direct plans). Their portfolios overlap 65.8%: they hold 25 of the same securities.
Motilal Oswal Large Cap Fund
Large Cap
- 1 year return
- −7.1%
- Expense ratio
- 0.99%
- NAV
- ₹13.59
Which is better, Motilal Oswal Large Cap or SBI NIFTY 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 Large Cap returned more over 1 year: −7.1% against −10.2%.
- SBI NIFTY Index costs less: 0.24% a year against 0.99% (Direct plans).
- SBI NIFTY Index fell less in its worst fall since 12-02-2024: −15.5% against −15.8%.
- SBI NIFTY Index holds more in large companies: 98.8% of the fund in large caps against 79.8%.
- SBI NIFTY Index is the larger fund: ₹13,190 Cr against ₹2,925 Cr.
- Their portfolios overlap 65.8%: 25 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 Large Cap Fund | SBI NIFTY Index Fund |
|---|---|---|
| Fund house | Motilal Oswal Mutual Fund | SBI Mutual Fund |
| Category | Large Cap | Index |
| AUM | ₹2,925 Cr (30-09-2026) | ₹13,190 Cr (30-09-2026) |
| NAV | ₹13.59 (Direct) | ₹215.76 (Direct) |
| Expense ratio (Direct) | 0.99% | 0.24% |
| Expense ratio (Regular) | 2.08% | 0.44% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 100 TRI | Nifty 50 TRI |
| Launch date | 06-02-2023 | 17-01-2002 |
| Minimum investment | ₹500 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Atul Mehra, Santosh Singh, Ajay Khandelwal, Rakesh Shetty, Swapnil Mayekar | Raviprakash Sharma |
| Exit load | 1% - If redeemed on or before 15 days from the date of allotment. Nil - If redeemed after 15 days from the date of allotment. | Exit load of 0.25% if redeemed within 30 days |
Motilal Oswal Large Cap vs SBI NIFTY 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 Large Cap Fund (Direct) | +0.61% | −3.95% | −0.82% | −7.08% | -- | -- | -- |
| SBI NIFTY Index Fund (Direct) | +1.94% | −5.06% | −3.24% | −10.22% | +7.34% | +6.43% | +11.22% |
| Large Cap average | +0.62% | −4.36% | −1.05% | −6.33% | -- | -- | -- |
Category average: the average of the 35 Large Cap funds, same plan type.
Motilal Oswal Large Cap vs SBI NIFTY Index: Year-wise Returns
| Year | Motilal Oswal Large CapMotilal Oswal Large Cap | SBI NIFTY IndexSBI NIFTY Index |
|---|---|---|
| 2026to date | −6.97% | −11.09% |
| 2025 | +9.89% | +11.58% |
| 2024 | -- | +9.80% |
| 2023 | -- | +21.04% |
| 2022 | -- | +5.43% |
| 2021 | -- | +25.10% |
Motilal Oswal Large Cap vs SBI NIFTY Index: Rolling Returns
Every holding period of both funds, against Nifty 100 TRI, the benchmark of Motilal Oswal Large Cap Fund
Rolling returns
Every 1-year holding period, 421 of them, one for each trading day from 12-02-2025 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 Large Cap Fund (Direct)
SBI NIFTY Index Fund (Direct)
Nifty 100 TRI
to
Apr 2025Jul 2024
to
Jul 2025Nov 2024
to
Nov 2025Feb 2025
to
Feb 2026Jun 2025
to
Jun 2026Sept 2025
to
Sept 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 Large Cap | 23.3 | 12.1 | 17.1 | 16.9 | 11.6 | 9.0 | 10.0 | 9.9% | 9.4% | −8.6% | 31.1% | 76% |
| SBI NIFTY Index | 34.7 | 22.2 | 27.4 | 15.7 | 0.0 | 0.0 | 0.0 | 3.0% | 2.8% | −12.0% | 14.8% | 52% |
| Nifty 100 TRI | 33.7 | 28.3 | 26.4 | 11.2 | 0.5 | 0.0 | 0.0 | 3.0% | 2.5% | −10.5% | 15.3% | -- |
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 100 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 12-02-2024. Past returns do not promise future returns.
Motilal Oswal Large Cap vs SBI NIFTY 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 12-02-2024 to 30-10-2026: 33 instalments, ₹3,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Motilal Oswal Large CapMotilal Oswal Large Cap Fund (Direct) | ₹3,30,000 | ₹3,46,794 | ₹16,794 | 3.6% |
| SBI NIFTY IndexSBI NIFTY Index Fund (Direct) | ₹3,30,000 | ₹3,20,615 | −₹9,385 | −2.0% |
Motilal Oswal Large CapMotilal Oswal Large Cap Fund (Direct)
SBI NIFTY IndexSBI NIFTY 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 Large Cap vs SBI NIFTY Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Motilal Oswal Large Cap Fund (Direct) | SBI NIFTY Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | −7.08% | −10.22% |
| Standard deviation | 13.83% | 13.62% |
| Sharpe ratio | -0.89 | -1.14 |
| Sortino ratio | -1.19 | -1.52 |
| Maximum drawdown | −15.8% (30-03-2026) | −15.1% (31-03-2026) |
| Beta | 0.98 | 1.00 |
| Alpha | +1.31% | −0.23% |
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 Large Cap Fund (Direct) | SBI NIFTY Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.36% | +10.95% |
| Standard deviation | 13.58% | 15.84% |
| Sharpe ratio | 0.47 | 0.31 |
| Sortino ratio | 0.66 | 0.42 |
| Maximum drawdown | −15.8% (30-03-2026) | −38.4% (23-03-2020) |
| Beta | 0.95 | 1.00 |
| Alpha | +7.96% | −0.62% |
From daily NAVs, 12-02-2024 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 Large Cap Fund (Direct)
SBI NIFTY Index Fund (Direct)
Nifty 100 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Motilal Oswal Large Cap Fund (Direct) | −15.8% | 02-01-2026 | 30-03-2026 | Not yet | -- | −8.1% |
| SBI NIFTY Index Fund (Direct) | −15.5% | 26-09-2024 | 04-03-2025 | 27-10-2025 | 8 months | −11.8% |
| Nifty 100 TRI | −17.2% | 26-09-2024 | 28-02-2025 | 02-01-2026 | 10 months | −10.1% |
From daily values since 12-02-2024, 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 Large Cap Fund (Direct)
SBI NIFTY Index Fund (Direct)
Nifty 100 TRI
Against Nifty 100 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Motilal Oswal Large Cap Fund (Direct) | 122% | 82% | 4.59% |
| SBI NIFTY Index Fund (Direct) | 93% | 96% | 1.86% |
From month-end values since 12-02-2024. 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 Large Cap vs SBI NIFTY Index: Portfolio Overlap
From each fund's latest monthly portfolio: Motilal Oswal Large Cap Fund, September 2026; SBI NIFTY Index Fund, September 2026
Holdings in common
- Overlap
- 65.8%
- Held by both
- 25
- Only in Motilal Oswal Large Cap
- 32
- Only in SBI NIFTY Index
- 25
| Security | % of Motilal Oswal Large Cap | % of SBI NIFTY Index |
|---|---|---|
| HDFC Bank Limited | 9.45% | 10.40% |
| ICICI Bank Limited | 7.59% | 9.07% |
| Reliance Industries Limited | 6.49% | 7.60% |
| Bharti Airtel Limited | 4.46% | 5.12% |
| Larsen & Toubro Limited | 3.60% | 4.21% |
| State Bank of India | 3.28% | 3.80% |
| Infosys Limited | 3.06% | 3.36% |
| Axis Bank Limited | 2.72% | 3.37% |
| Kotak Mahindra Bank Ltd | 2.49% | 2.94% |
| Mahindra & Mahindra Limited | 2.17% | 2.52% |
| Bajaj Finance Ltd | 2.13% | 2.51% |
| Tata Consultancy Services Limited | 2.17% | 2.00% |
| ITC Limited | 1.95% | 2.43% |
| Eternal Limited | 1.75% | 2.22% |
| Titan Company Limited | 1.57% | 1.81% |
| Sun Pharmaceutical Industries Limited | 1.55% | 1.84% |
| Maruti Suzuki India Limited | 1.55% | 1.49% |
| NTPC Limited | 1.88% | 1.47% |
| Power Grid Corporation of India Limited | 1.51% | 1.13% |
| Grasim Industries Limited | 1.47% | 1.11% |
| InterGlobe Aviation Limited | 1.36% | 1.08% |
| Coal India Limited | 1.57% | 0.97% |
| Tech Mahindra Limited | 1.20% | 0.93% |
| SBI Life Insurance Company Limited | 1.28% | 0.73% |
| Trent Limited | 0.67% | 0.84% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 65.8% means 65.8% 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 Large Cap Fund
| Security | % of fund |
|---|---|
| Indiqube Spaces Limited | 2.01% |
| Bajaj Holdings & Investment Limited | 1.84% |
| Sambhv Steel Tubes Ltd | 1.63% |
| ICICI Prudential Asset Management Company Limited | 1.61% |
| KFin Technologies Limited | 1.55% |
Largest holdings only in SBI NIFTY Index Fund
| Security | % of fund |
|---|---|
| Hindustan Unilever Ltd. | 1.60% |
| Tata Steel Ltd. | 1.46% |
| Adani Ports and Special Economic Zone Ltd. | 1.35% |
| Bharat Electronics Ltd. | 1.33% |
| Shriram Finance Ltd. | 1.32% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Motilal Oswal Large Cap | SBI NIFTY Index |
|---|---|---|
| Equity | 99.6% | 100.2% |
| Debt | 0.0% | 0.0% |
| Cash and others | 0.4% | -0.2% |
Market cap of stocks
| Market cap | Motilal Oswal Large Cap | SBI NIFTY Index |
|---|---|---|
| Large Cap | 79.8% | 98.8% |
| Mid Cap | 0.0% | 1.4% |
| Small Cap | 14.4% | 0.0% |
| Not on AMFI's list | 5.3% | 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 Large Cap | SBI NIFTY Index |
|---|---|---|
| Banks | 25.5% | 29.6% |
| Petroleum Products | 6.5% | 7.6% |
| IT - Software | 7.3% | 7.5% |
| Automobiles | 3.7% | 6.7% |
| Finance | 6.4% | 5.5% |
| Telecom - Services | 5.9% | 5.1% |
| Consumer Durables | 5.0% | 2.9% |
The six largest sectors of each fund's stocks, % of the fund.
Motilal Oswal Large Cap vs SBI NIFTY Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Motilal Oswal Large Cap Fund | SBI NIFTY Index Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.99% | 0.24% |
| Base expense ratio (Direct) | 0.69% | 0.16% |
| Total expense ratio (Regular) | 2.08% | 0.44% |
| Base expense ratio (Regular) | 1.68% | 0.33% |
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
Motilal Oswal Large Cap Fund vs SBI NIFTY Index Fund: Frequently Asked Questions
What is the difference between Motilal Oswal Large Cap Fund and SBI NIFTY Index Fund?
Motilal Oswal Large Cap Fund is a Large Cap fund, SBI NIFTY Index Fund is an Index fund, run by Motilal Oswal Mutual Fund and SBI Mutual Fund. Their portfolios overlap 65.8%. Motilal Oswal Large Cap Fund charges 0.99% a year and SBI NIFTY Index Fund 0.24%.
Which has given higher returns, Motilal Oswal Large Cap Fund or SBI NIFTY Index Fund?
Over 1 year: Motilal Oswal Large Cap Fund −7.08%, SBI NIFTY Index Fund −10.22%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Motilal Oswal Large Cap Fund or SBI NIFTY Index Fund?
SBI NIFTY Index Fund charges less: 0.24% a year against 0.99%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Motilal Oswal Large Cap Fund and SBI NIFTY Index Fund overlap?
65.8%. They hold 25 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, RELIANCE. From each fund's latest monthly portfolio.
Which is riskier, Motilal Oswal Large Cap Fund or SBI NIFTY Index Fund?
On SEBI's riskometer, Motilal Oswal Large Cap Fund is rated Very High and SBI NIFTY Index Fund Very High. Over 1 years, the standard deviation of daily returns was 13.83% and 13.62% a year.
Can I invest in both Motilal Oswal Large Cap Fund and SBI NIFTY Index Fund?
Yes. 65.8% 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 Large Cap Fund and SBI NIFTY Index Fund?
Motilal Oswal Large Cap Fund: Atul Mehra, Santosh Singh, Ajay Khandelwal, Rakesh Shetty, Swapnil Mayekar. SBI NIFTY Index Fund: Raviprakash Sharma.
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.