Motilal Oswal Nifty Bank Index Fund vs Nippon India ETF Nifty Bank BeES
Direct Plan, Growth option · Data as on 30-10-2026
Motilal Oswal Nifty Bank Index Fund is an Index fund and Nippon India ETF Nifty Bank BeES is a mutual fund. In the 3 years to 30-10-2026, Motilal Oswal Nifty Bank Index Fund (Direct) returned 8.8% a year and Nippon India ETF Nifty Bank BeES (Direct) returned 8.9% a year. Motilal Oswal Nifty Bank Index Fund charges 0.32% a year and Nippon India ETF Nifty Bank BeES 0.21% (Direct plans). Their portfolios overlap 100.0%: they hold 14 of the same securities.
Motilal Oswal Nifty Bank Index Fund
Index
- 3 year return
- 8.8%
- Expense ratio
- 0.32%
- NAV
- ₹20.35
Nippon India ETF Nifty Bank BeES
- 3 year return
- 8.9%
- Expense ratio
- 0.21%
- NAV
- ₹566.83
Which is better, Motilal Oswal Nifty Bank Index or Nippon India ETF Nifty Bank BeES? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Nippon India ETF Nifty Bank BeES returned more over 5 years: 7.5% a year against 7.5%.
- Nippon India ETF Nifty Bank BeES returned more over 3 years: 8.9% a year against 8.8%.
- Nippon India ETF Nifty Bank BeES costs less: 0.21% a year against 0.32% (Direct plans).
- Motilal Oswal Nifty Bank Index swung less over 3 years: a standard deviation of 15.9% a year against 15.9%.
- Motilal Oswal Nifty Bank Index fell less in its worst fall since 11-09-2019: −46.9% against −48.6%.
- Nippon India ETF Nifty Bank BeES is the larger fund: ₹7,917 Cr against ₹619 Cr.
- Their portfolios overlap 100.0%: 14 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 Nifty Bank Index Fund | Nippon India ETF Nifty Bank BeES |
|---|---|---|
| Fund house | Motilal Oswal Mutual Fund | Nippon India Mutual Fund |
| Category | Index | Not available |
| AUM | ₹619 Cr (30-09-2026) | ₹7,917 Cr (30-09-2026) |
| NAV | ₹20.35 (Direct) | ₹566.83 (Direct) |
| Expense ratio (Direct) | 0.32% | 0.21% |
| Expense ratio (Regular) | 1.07% | Not available |
| Riskometer | Very High | Not available |
| Benchmark | Nifty Bank TRI | Not available |
| Launch date | 06-09-2019 | Not available |
| Minimum investment | ₹500 | Not available |
| Lock in | None | Not available |
| Fund managers | Swapnil Mayekar | Not available |
| Exit load | Yes | Not available |
Motilal Oswal Nifty Bank Index vs Nippon India ETF Nifty Bank BeES: 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 Nifty Bank Index Fund (Direct) | +0.08% | −4.22% | +0.17% | −5.45% | +8.85% | +7.49% | -- |
| Nippon India ETF Nifty Bank BeES (Direct) | +0.08% | −4.20% | +0.21% | −5.39% | +8.90% | +7.55% | -- |
Motilal Oswal Nifty Bank Index vs Nippon India ETF Nifty Bank BeES: Year-wise Returns
| Year | Motilal Oswal Nifty Bank IndexMotilal Oswal Nifty Bank Index | Nippon India ETF Nifty Bank BeESNippon India ETF Nifty Bank BeES | Nifty Bank TRI |
|---|---|---|---|
| 2026to date | −7.86% | −7.81% | −7.61% |
| 2025 | +17.83% | +17.83% | +18.08% |
| 2024 | +5.96% | +6.01% | +6.26% |
| 2023 | +12.97% | +13.15% | +13.29% |
| 2022 | +21.83% | +21.83% | +22.14% |
| 2021 | +13.01% | +13.65% | +13.90% |
Motilal Oswal Nifty Bank Index vs Nippon India ETF Nifty Bank BeES: Rolling Returns
Every holding period of both funds, against Nifty Bank TRI, the benchmark of both
Rolling returns
Every 3-year holding period, 1,017 of them, one for each trading day from 12-09-2022 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 Nifty Bank Index Fund (Direct)
Nippon India ETF Nifty Bank BeES (Direct)
Nifty Bank TRI
to
Jan 2023Sept 2020
to
Sept 2023Jun 2021
to
Jun 2024Feb 2022
to
Feb 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 Nifty Bank Index | 0.0 | 0.0 | 20.6 | 50.9 | 12.6 | 3.7 | 12.1 | 14.5% | 12.6% | 7.0% | 36.4% | 0% |
| Nippon India ETF Nifty Bank BeES | 0.0 | 0.0 | 20.7 | 50.0 | 13.4 | 3.2 | 12.6 | 14.7% | 12.7% | 7.1% | 36.9% | 0% |
| Nifty Bank TRI | 0.0 | 0.0 | 15.5 | 52.7 | 15.4 | 3.5 | 12.8 | 14.9% | 12.9% | 7.3% | 37.2% | -- |
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 Bank 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 11-09-2019. Past returns do not promise future returns.
Motilal Oswal Nifty Bank Index vs Nippon India ETF Nifty Bank BeES: 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 11-09-2019 to 30-10-2026: 86 instalments, ₹8,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Motilal Oswal Nifty Bank IndexMotilal Oswal Nifty Bank Index Fund (Direct) | ₹8,60,000 | ₹12,37,696 | ₹3,77,696 | 10.0% |
| Nippon India ETF Nifty Bank BeESNippon India ETF Nifty Bank BeES (Direct) | ₹8,60,000 | ₹12,42,128 | ₹3,82,128 | 10.1% |
Motilal Oswal Nifty Bank IndexMotilal Oswal Nifty Bank Index Fund (Direct)
Nippon India ETF Nifty Bank BeESNippon India ETF Nifty Bank BeES (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 Nifty Bank Index vs Nippon India ETF Nifty Bank BeES: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Motilal Oswal Nifty Bank Index Fund (Direct) | Nippon India ETF Nifty Bank BeES (Direct) |
|---|---|---|
| Return (CAGR) | −5.45% | −5.39% |
| Standard deviation | 16.98% | 17.02% |
| Sharpe ratio | -0.63 | -0.62 |
| Sortino ratio | -0.87 | -0.87 |
| Maximum drawdown | −18.4% (31-03-2026) | −18.4% (31-03-2026) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.32% | −0.26% |
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 Nifty Bank Index Fund (Direct) | Nippon India ETF Nifty Bank BeES (Direct) |
|---|---|---|
| Return (CAGR) | +8.85% | +8.90% |
| Standard deviation | 15.90% | 15.95% |
| Sharpe ratio | 0.18 | 0.18 |
| Sortino ratio | 0.25 | 0.25 |
| Maximum drawdown | −18.4% (31-03-2026) | −18.4% (31-03-2026) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.30% | −0.25% |
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 Nifty Bank Index Fund (Direct) | Nippon India ETF Nifty Bank BeES (Direct) |
|---|---|---|
| Return (CAGR) | +7.49% | +7.55% |
| Standard deviation | 16.64% | 16.69% |
| Sharpe ratio | 0.10 | 0.11 |
| Sortino ratio | 0.14 | 0.15 |
| Maximum drawdown | −18.4% (31-03-2026) | −18.4% (31-03-2026) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.29% | −0.23% |
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 Nifty Bank Index Fund (Direct) | Nippon India ETF Nifty Bank BeES (Direct) |
|---|---|---|
| Return (CAGR) | +10.25% | +11.24% |
| Standard deviation | 22.88% | 21.31% |
| Sharpe ratio | 0.22 | 0.27 |
| Sortino ratio | 0.31 | 0.38 |
| Maximum drawdown | −46.9% (23-03-2020) | −48.6% (23-03-2020) |
| Beta | 0.98 | 1.00 |
| Alpha | −0.28% | −0.39% |
From daily NAVs, 11-09-2019 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 Nifty Bank Index Fund (Direct)
Nippon India ETF Nifty Bank BeES (Direct)
Nifty Bank TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Motilal Oswal Nifty Bank Index Fund (Direct) | −46.9% | 02-01-2020 | 23-03-2020 | 01-02-2021 | 10 months | −10.8% |
| Nippon India ETF Nifty Bank BeES (Direct) | −48.6% | 02-01-2020 | 23-03-2020 | 01-02-2021 | 10 months | −10.7% |
| Nifty Bank TRI | −47.9% | 02-01-2020 | 23-03-2020 | 13-01-2021 | 10 months | −10.6% |
From daily values since 11-09-2019, 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 Nifty Bank Index Fund (Direct)
Nippon India ETF Nifty Bank BeES (Direct)
Nifty Bank 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 Nifty Bank Index Fund (Direct)
Nippon India ETF Nifty Bank BeES (Direct)
Nifty Bank 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 Nifty Bank Index Fund (Direct)
Nippon India ETF Nifty Bank BeES (Direct)
Nifty Bank TRI
Against Nifty Bank TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Motilal Oswal Nifty Bank Index Fund (Direct) | 99% | 100% | 0.35% |
| Nippon India ETF Nifty Bank BeES (Direct) | 100% | 101% | 0.34% |
From month-end values since 11-09-2019. 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 Nifty Bank Index vs Nippon India ETF Nifty Bank BeES: Portfolio Overlap
From each fund's latest monthly portfolio: Motilal Oswal Nifty Bank Index Fund, September 2026; Nippon India ETF Nifty Bank BeES, September 2026
Holdings in common
- Overlap
- 100.0%
- Held by both
- 14
- Only in Motilal Oswal Nifty Bank Index
- 0
- Only in Nippon India ETF Nifty Bank BeES
- 0
| Security | % of Motilal Oswal Nifty Bank Index | % of Nippon India ETF Nifty Bank BeES |
|---|---|---|
| HDFC Bank Limited | 18.61% | 18.61% |
| ICICI Bank Limited | 14.18% | 14.18% |
| Kotak Mahindra Bank Ltd | 10.20% | 10.20% |
| Axis Bank Limited | 10.06% | 10.05% |
| State Bank of India | 9.93% | 9.92% |
| The Federal Bank Limited | 6.56% | 6.56% |
| IndusInd Bank Limited | 4.97% | 4.97% |
| AU Small Finance Bank Limited | 4.85% | 4.85% |
| IDFC First Bank Limited | 4.54% | 4.54% |
| Bank of Baroda | 3.59% | 3.59% |
| Canara Bank | 3.37% | 3.37% |
| Punjab National Bank | 3.27% | 3.27% |
| Yes Bank Limited | 3.01% | 3.01% |
| Union Bank of India | 2.86% | 2.86% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 100.0% means 100.0% 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 Nifty Bank Index Fund
Every holding of this fund is also held by the other.
Largest holdings only in Nippon India ETF Nifty Bank BeES
Every holding of this fund is also held by the other.
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Motilal Oswal Nifty Bank Index | Nippon India ETF Nifty Bank BeES |
|---|---|---|
| Equity | 100.0% | 100.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 0.0% | 0.0% |
Market cap of stocks
| Market cap | Motilal Oswal Nifty Bank Index | Nippon India ETF Nifty Bank BeES |
|---|---|---|
| Large Cap | 76.1% | 76.0% |
| Mid Cap | 23.9% | 23.9% |
| Small Cap | 0.0% | 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 Nifty Bank Index | Nippon India ETF Nifty Bank BeES |
|---|---|---|
| Banks | 100.0% | 100.0% |
The six largest sectors of each fund's stocks, % of the fund.
Motilal Oswal Nifty Bank Index vs Nippon India ETF Nifty Bank BeES: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Motilal Oswal Nifty Bank Index Fund | Nippon India ETF Nifty Bank BeES |
|---|---|---|
| Total expense ratio (Direct) | 0.32% | 0.21% |
| Base expense ratio (Direct) | 0.23% | 0.16% |
| Total expense ratio (Regular) | 1.07% | Not available |
| Base expense ratio (Regular) | 0.90% | 0.00% |
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.
Motilal Oswal Nifty Bank Index Fund vs Nippon India ETF Nifty Bank BeES: Frequently Asked Questions
What is the difference between Motilal Oswal Nifty Bank Index Fund and Nippon India ETF Nifty Bank BeES?
Motilal Oswal Nifty Bank Index Fund is an Index fund, Nippon India ETF Nifty Bank BeES is a mutual fund, run by Motilal Oswal Mutual Fund and Nippon India Mutual Fund. Their portfolios overlap 100.0%. Motilal Oswal Nifty Bank Index Fund charges 0.32% a year and Nippon India ETF Nifty Bank BeES 0.21%.
Which has given higher returns, Motilal Oswal Nifty Bank Index Fund or Nippon India ETF Nifty Bank BeES?
Over 1 year: Motilal Oswal Nifty Bank Index Fund −5.45%, Nippon India ETF Nifty Bank BeES −5.39%. Over 3 years: Motilal Oswal Nifty Bank Index Fund +8.85% a year, Nippon India ETF Nifty Bank BeES +8.90% a year. Over 5 years: Motilal Oswal Nifty Bank Index Fund +7.49% a year, Nippon India ETF Nifty Bank BeES +7.55% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Motilal Oswal Nifty Bank Index Fund or Nippon India ETF Nifty Bank BeES?
Nippon India ETF Nifty Bank BeES charges less: 0.21% a year against 0.32%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Motilal Oswal Nifty Bank Index Fund and Nippon India ETF Nifty Bank BeES overlap?
100.0%. They hold 14 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, KOTAKBANK. From each fund's latest monthly portfolio.
Which is better for SIP, Motilal Oswal Nifty Bank Index Fund or Nippon India ETF Nifty Bank BeES?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,30,861 in Motilal Oswal Nifty Bank Index Fund (XIRR 7.1% a year) and ₹7,31,747 in Nippon India ETF Nifty Bank BeES (XIRR 7.1% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Motilal Oswal Nifty Bank Index Fund and Nippon India ETF Nifty Bank BeES?
Yes. 100.0% of each fund's money sits in the same holdings, so a large part 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.