Motilal Oswal Nifty Capital Market Index Fund vs Motilal Oswal Nifty MidSmall Financial Services Index Fund
Direct Plan, Growth option · Data as on 30-10-2026
Motilal Oswal Nifty Capital Market Index Fund is a mutual fund and Motilal Oswal Nifty MidSmall Financial Services Index Fund is a mutual fund. In the year to 30-10-2026, Motilal Oswal Nifty Capital Market Index Fund (Direct) returned 13.2% and Motilal Oswal Nifty MidSmall Financial Services Index Fund (Direct) returned 0.8%. Motilal Oswal Nifty Capital Market Index Fund charges 0.65% a year and Motilal Oswal Nifty MidSmall Financial Services Index Fund 0.89% (Direct plans). Their portfolios overlap 22.5%: they hold 9 of the same securities.
Motilal Oswal Nifty Capital Market Index Fund
- 1 year return
- 13.2%
- Expense ratio
- 0.65%
- NAV
- ₹12.21
Motilal Oswal Nifty MidSmall Financial Services Index Fund
- 1 year return
- 0.8%
- Expense ratio
- 0.89%
- NAV
- ₹13.03
Which is better, Motilal Oswal Nifty Capital Market Index or Motilal Oswal Nifty MidSmall Financial Services 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 Nifty Capital Market Index returned more over 1 year: 13.2% against 0.8%.
- Motilal Oswal Nifty Capital Market Index costs less: 0.65% a year against 0.89% (Direct plans).
- Motilal Oswal Nifty MidSmall Financial Services Index fell less in its worst fall since 20-12-2024: −17.4% against −28.7%.
- Motilal Oswal Nifty Capital Market Index holds more in large companies: 40.4% of the fund in large caps against 8.0%.
- Motilal Oswal Nifty Capital Market Index is the larger fund: ₹663 Cr against ₹118 Cr.
- Their portfolios overlap 22.5%: 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 Nifty Capital Market Index Fund | Motilal Oswal Nifty MidSmall Financial Services Index Fund |
|---|---|---|
| Fund house | Motilal Oswal Mutual Fund | Motilal Oswal Mutual Fund |
| Category | Not available | Not available |
| AUM | ₹663 Cr (30-09-2026) | ₹118 Cr (30-09-2026) |
| NAV | ₹12.21 (Direct) | ₹13.03 (Direct) |
| Expense ratio (Direct) | 0.65% | 0.89% |
| Expense ratio (Regular) | 1.21% | 1.29% |
| Riskometer | Not available | Not available |
| Benchmark | Not available | Not available |
| Launch date | Not available | Not available |
| Minimum investment | Not available | Not available |
| Lock in | Not available | Not available |
| Fund managers | Not available | Not available |
| Exit load | Not available | Not available |
Motilal Oswal Nifty Capital Market Index vs Motilal Oswal Nifty MidSmall Financial Services 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 Nifty Capital Market Index Fund (Direct) | +0.86% | −1.92% | −1.84% | +13.17% | -- | -- | -- |
| Motilal Oswal Nifty MidSmall Financial Services Index Fund (Direct) | −5.32% | −9.84% | −6.11% | +0.78% | -- | -- | -- |
Motilal Oswal Nifty Capital Market Index vs Motilal Oswal Nifty MidSmall Financial Services Index: Year-wise Returns
| Year | Capital MarketMotilal Oswal Nifty Capital Market Index | MidSmall Financial ServicesMotilal Oswal Nifty MidSmall Financial Services Index |
|---|---|---|
| 2026to date | +10.47% | −4.06% |
| 2025 | +15.84% | +30.50% |
Motilal Oswal Nifty Capital Market Index vs Motilal Oswal Nifty MidSmall Financial Services Index: Rolling Returns
Every holding period of both funds, against Nifty Capital Markets TRI, the benchmark of Motilal Oswal Nifty Capital Market Index Fund
Rolling returns
Every 1-year holding period, 210 of them, one for each trading day from 22-12-2025 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 Nifty Capital Market Index Fund (Direct)
Motilal Oswal Nifty MidSmall Financial Services Index Fund (Direct)
Nifty Capital Markets TRI
to
Jan 2026Mar 2025
to
Mar 2026May 2025
to
May 2026Jun 2025
to
Jun 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 Nifty Capital Market Index | 0.0 | 0.0 | 1.9 | 7.1 | 18.1 | 26.2 | 46.7 | 28.5% | 24.7% | 6.5% | 56.4% | 0% |
| Motilal Oswal Nifty MidSmall Financial Services Index | 0.0 | 2.9 | 1.4 | 6.2 | 14.8 | 19.5 | 55.2 | 26.6% | 26.4% | 0.8% | 47.2% | 30% |
| Nifty Capital Markets TRI | 0.0 | 0.0 | 1.4 | 6.7 | 16.2 | 24.3 | 51.4 | 29.1% | 25.3% | 7.0% | 57.2% | -- |
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 Capital Markets 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 20-12-2024. Past returns do not promise future returns.
Motilal Oswal Nifty Capital Market Index vs Motilal Oswal Nifty MidSmall Financial Services 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 20-12-2024 to 30-10-2026: 23 instalments, ₹2,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Motilal Oswal Nifty Capital Market IndexMotilal Oswal Nifty Capital Market Index Fund (Direct) | ₹2,30,000 | ₹2,71,217 | ₹41,217 | 17.6% |
| Motilal Oswal Nifty MidSmall Financial Services IndexMotilal Oswal Nifty MidSmall Financial Services Index Fund (Direct) | ₹2,30,000 | ₹2,47,284 | ₹17,284 | 7.5% |
Motilal Oswal Nifty Capital Market IndexMotilal Oswal Nifty Capital Market Index Fund (Direct)
Motilal Oswal Nifty MidSmall Financial Services IndexMotilal Oswal Nifty MidSmall Financial Services 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 Nifty Capital Market Index vs Motilal Oswal Nifty MidSmall Financial Services Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Motilal Oswal Nifty Capital Market Index Fund (Direct) | Motilal Oswal Nifty MidSmall Financial Services Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.17% | +0.78% |
| Standard deviation | 24.11% | 20.85% |
| Sharpe ratio | 0.33 | -0.21 |
| Sortino ratio | 0.51 | -0.30 |
| Maximum drawdown | −14.1% (23-03-2026) | −15.0% (31-03-2026) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.53% | −0.82% |
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 Capital Market Index Fund (Direct) | Motilal Oswal Nifty MidSmall Financial Services Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.55% | +13.57% |
| Standard deviation | 26.99% | 21.10% |
| Sharpe ratio | 0.30 | 0.38 |
| Sortino ratio | 0.44 | 0.54 |
| Maximum drawdown | −28.7% (13-03-2025) | −19.9% (13-03-2025) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.57% | −0.90% |
From daily NAVs, 20-12-2024 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 Nifty Capital Market Index Fund (Direct)
Motilal Oswal Nifty MidSmall Financial Services Index Fund (Direct)
Nifty Capital Markets TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Motilal Oswal Nifty Capital Market Index Fund (Direct) | −28.7% | 02-01-2025 | 13-03-2025 | 19-05-2025 | 2 months | −9.4% |
| Motilal Oswal Nifty MidSmall Financial Services Index Fund (Direct) | −17.4% | 02-01-2025 | 13-03-2025 | 21-04-2025 | 39 days | −13.6% |
| Nifty Capital Markets TRI | −28.6% | 02-01-2025 | 13-03-2025 | 19-05-2025 | 2 months | −9.2% |
From daily values since 20-12-2024, 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 Nifty Capital Market Index Fund (Direct)
Motilal Oswal Nifty MidSmall Financial Services Index Fund (Direct)
Nifty Capital Markets TRI
Against Nifty Capital Markets TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Motilal Oswal Nifty Capital Market Index Fund (Direct) | 99% | 101% | 0.10% |
| Motilal Oswal Nifty MidSmall Financial Services Index Fund (Direct) | 75% | 71% | 12.57% |
From month-end values since 20-12-2024. 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 Nifty Capital Market Index vs Motilal Oswal Nifty MidSmall Financial Services Index: Portfolio Overlap
From each fund's latest monthly portfolio: Motilal Oswal Nifty Capital Market Index Fund, September 2026; Motilal Oswal Nifty MidSmall Financial Services Index Fund, September 2026
Holdings in common
- Overlap
- 22.5%
- Held by both
- 9
- Only in Motilal Oswal Nifty Capital Market Index
- 8
- Only in Motilal Oswal Nifty MidSmall Financial Services Index
- 21
| Security | % of Motilal Oswal Nifty Capital Market Index | % of Motilal Oswal Nifty MidSmall Financial Services Index |
|---|---|---|
| Multi Commodity Exchange of India Limited | 18.85% | 8.52% |
| 360 One WAM Limited | 6.06% | 2.74% |
| Central Depository Services (India) Limited | 5.04% | 2.28% |
| Nippon Life India Asset Management Limited | 4.32% | 1.95% |
| Angel One Limited | 4.00% | 1.81% |
| Computer Age Management Services Limited | 3.62% | 1.63% |
| Motilal Oswal Financial Services Limited | 3.53% | 1.60% |
| KFin Technologies Limited | 2.52% | 1.14% |
| Indian Energy Exchange Limited | 1.90% | 0.86% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 22.5% means 22.5% 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 Capital Market Index Fund
| Security | % of fund |
|---|---|
| BSE Limited | 19.99% |
| HDFC Asset Management Company Limited | 10.43% |
| Billionbrains Garage Ventures Ltd | 5.89% |
| Anand Rathi Wealth Limited | 4.34% |
| ICICI Prudential Asset Management Company Limited | 4.11% |
Largest holdings only in Motilal Oswal Nifty MidSmall Financial Services Index Fund
| Security | % of fund |
|---|---|
| The Federal Bank Limited | 7.93% |
| One 97 Communications Limited | 7.31% |
| IndusInd Bank Limited | 6.01% |
| AU Small Finance Bank Limited | 5.94% |
| IDFC First Bank Limited | 5.47% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Motilal Oswal Nifty Capital Market Index | Motilal Oswal Nifty MidSmall Financial Services Index |
|---|---|---|
| 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 Capital Market Index | Motilal Oswal Nifty MidSmall Financial Services Index |
|---|---|---|
| Large Cap | 40.4% | 8.0% |
| Mid Cap | 32.8% | 77.1% |
| Small Cap | 26.9% | 15.0% |
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 Capital Market Index | Motilal Oswal Nifty MidSmall Financial Services Index |
|---|---|---|
| Capital Markets | 100.0% | 22.5% |
| Banks | 0.0% | 35.3% |
| Finance | 0.0% | 16.6% |
| Insurance | 0.0% | 14.5% |
| Financial Technology (Fintech) | 0.0% | 11.1% |
The six largest sectors of each fund's stocks, % of the fund.
Motilal Oswal Nifty Capital Market Index vs Motilal Oswal Nifty MidSmall Financial Services Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Motilal Oswal Nifty Capital Market Index Fund | Motilal Oswal Nifty MidSmall Financial Services Index Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.65% | 0.89% |
| Base expense ratio (Direct) | 0.40% | 0.55% |
| Total expense ratio (Regular) | 1.21% | 1.29% |
| Base expense ratio (Regular) | 0.90% | 0.90% |
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 Capital Market Index Fund vs Motilal Oswal Nifty MidSmall Financial Services Index Fund: Frequently Asked Questions
What is the difference between Motilal Oswal Nifty Capital Market Index Fund and Motilal Oswal Nifty MidSmall Financial Services Index Fund?
Motilal Oswal Nifty Capital Market Index Fund is a mutual fund, Motilal Oswal Nifty MidSmall Financial Services Index Fund is a mutual fund, run by Motilal Oswal Mutual Fund. Their portfolios overlap 22.5%. Motilal Oswal Nifty Capital Market Index Fund charges 0.65% a year and Motilal Oswal Nifty MidSmall Financial Services Index Fund 0.89%.
Which has given higher returns, Motilal Oswal Nifty Capital Market Index Fund or Motilal Oswal Nifty MidSmall Financial Services Index Fund?
Over 1 year: Motilal Oswal Nifty Capital Market Index Fund +13.17%, Motilal Oswal Nifty MidSmall Financial Services Index Fund +0.78%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Motilal Oswal Nifty Capital Market Index Fund or Motilal Oswal Nifty MidSmall Financial Services Index Fund?
Motilal Oswal Nifty Capital Market Index Fund charges less: 0.65% a year against 0.89%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Motilal Oswal Nifty Capital Market Index Fund and Motilal Oswal Nifty MidSmall Financial Services Index Fund overlap?
22.5%. They hold 9 of the same securities, the largest shared ones being MCX, 360ONE, CDSL. From each fund's latest monthly portfolio.
Can I invest in both Motilal Oswal Nifty Capital Market Index Fund and Motilal Oswal Nifty MidSmall Financial Services Index Fund?
Yes. 22.5% 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.