Motilal Oswal Nifty Microcap 250 Index Fund vs UTI Small Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Motilal Oswal Nifty Microcap 250 Index Fund is an Index fund and UTI Small Cap Fund is a Small Cap fund. In the 3 years to 30-10-2026, Motilal Oswal Nifty Microcap 250 Index Fund (Direct) returned 13.1% a year and UTI Small Cap Fund (Direct) returned 12.1% a year. Motilal Oswal Nifty Microcap 250 Index Fund charges 0.72% a year and UTI Small Cap Fund 1.07% (Direct plans). Their portfolios overlap 11.1%: they hold 22 of the same securities.
Motilal Oswal Nifty Microcap 250 Index Fund
Index
- 3 year return
- 13.1%
- Expense ratio
- 0.72%
- NAV
- ₹17.37
Which is better, Motilal Oswal Nifty Microcap 250 Index or UTI Small Cap? 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 Microcap 250 Index returned more over 3 years: 13.1% a year against 12.1%.
- Motilal Oswal Nifty Microcap 250 Index returned more over 1 year: −0.7% against −3.0%.
- Motilal Oswal Nifty Microcap 250 Index costs less: 0.72% a year against 1.07% (Direct plans).
- UTI Small Cap swung less over 3 years: a standard deviation of 16.7% a year against 21.3%.
- UTI Small Cap fell less in its worst fall since 11-07-2023: −22.3% against −29.4%.
- UTI Small Cap is the larger fund: ₹5,229 Cr against ₹2,410 Cr.
- Their portfolios overlap 11.1%: 22 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 Microcap 250 Index Fund | UTI Small Cap Fund |
|---|---|---|
| Fund house | Motilal Oswal Mutual Fund | UTI Mutual Fund |
| Category | Index | Small Cap |
| AUM | ₹2,410 Cr (30-09-2026) | ₹5,229 Cr (30-09-2026) |
| NAV | ₹17.37 (Direct) | ₹27.67 (Direct) |
| Expense ratio (Direct) | 0.72% | 1.07% |
| Expense ratio (Regular) | 1.25% | 2.03% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty Microcap 250 TRI | Nifty Smallcap 250 TRI |
| Launch date | 05-07-2023 | 22-12-2020 |
| Minimum investment | ₹500 | Regular Plan-Growth- Rs.5000, Direct Plan-Growth- Rs.5000, Regular Plan-Payout of IDCW- Rs.5000, Direct Plan-Payout of IDCW- Rs.5000, |
| Lock in | None | None |
| Fund managers | Swapnil Mayekar | Nitin Jain FM 1 |
| Exit load | Upto 2.25% | Exit load of 1% if redeemed within one year. |
Motilal Oswal Nifty Microcap 250 Index vs UTI Small Cap: 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 Microcap 250 Index Fund (Direct) | −9.04% | −4.56% | +3.52% | −0.68% | +13.05% | -- | -- |
| UTI Small Cap Fund (Direct) | −4.69% | −5.91% | −0.33% | −3.03% | +12.11% | +13.24% | -- |
| Small Cap average | −5.86% | −3.28% | +5.03% | +3.00% | +14.03% | +14.51% | -- |
Category average: the average of the 36 Small Cap funds, same plan type.
Motilal Oswal Nifty Microcap 250 Index vs UTI Small Cap: Year-wise Returns
| Year | Motilal Oswal Nifty Microcap 250 IndexMotilal Oswal Nifty Microcap 250 Index | UTI Small CapUTI Small Cap |
|---|---|---|
| 2026to date | +5.19% | +1.02% |
| 2025 | −10.89% | −4.19% |
| 2024 | +33.42% | +28.42% |
| 2023 | -- | +37.30% |
| 2022 | -- | +1.18% |
| 2021 | -- | +58.50% |
Motilal Oswal Nifty Microcap 250 Index vs UTI Small Cap: Rolling Returns
Every holding period of both funds, against Nifty Microcap 250 TRI, the benchmark of Motilal Oswal Nifty Microcap 250 Index Fund
Rolling returns
Every 3-year holding period, 75 of them, one for each trading day from 13-07-2026 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 Nifty Microcap 250 Index Fund (Direct)
UTI Small Cap Fund (Direct)
Nifty Microcap 250 TRI
to
Jul 2026Aug 2023
to
Aug 2026Aug 2023
to
Aug 2026Sept 2023
to
Sept 2026Oct 2023
to
Oct 2026Oct 2023
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 Microcap 250 Index | 0.0 | 0.0 | 0.0 | 13.3 | 64.0 | 22.7 | 0.0 | 17.9% | 17.7% | 12.5% | 22.6% | 0% |
| UTI Small Cap | 0.0 | 0.0 | 0.0 | 49.3 | 50.7 | 0.0 | 0.0 | 14.9% | 15.1% | 11.2% | 17.7% | 0% |
| Nifty Microcap 250 TRI | 0.0 | 0.0 | 0.0 | 2.7 | 50.7 | 46.7 | 0.0 | 19.3% | 19.0% | 14.0% | 24.1% | -- |
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 Microcap 250 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 11-07-2023. Past returns do not promise future returns.
Motilal Oswal Nifty Microcap 250 Index vs UTI Small Cap: 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 11-07-2023 to 30-10-2026: 40 instalments, ₹4,00,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Motilal Oswal Nifty Microcap 250 IndexMotilal Oswal Nifty Microcap 250 Index Fund (Direct) | ₹4,00,000 | ₹4,43,068 | ₹43,068 | 6.1% |
| UTI Small CapUTI Small Cap Fund (Direct) | ₹4,00,000 | ₹4,41,180 | ₹41,180 | 5.8% |
Motilal Oswal Nifty Microcap 250 IndexMotilal Oswal Nifty Microcap 250 Index Fund (Direct)
UTI Small CapUTI Small Cap 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 Microcap 250 Index vs UTI Small Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Motilal Oswal Nifty Microcap 250 Index Fund (Direct) | UTI Small Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −0.68% | −3.03% |
| Standard deviation | 20.68% | 16.71% |
| Sharpe ratio | -0.29 | -0.50 |
| Sortino ratio | -0.40 | -0.68 |
| Maximum drawdown | −21.6% (31-03-2026) | −17.7% (23-03-2026) |
| Beta | 1.00 | 0.90 |
| Alpha | −1.31% | −0.73% |
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 Microcap 250 Index Fund (Direct) | UTI Small Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.05% | +12.11% |
| Standard deviation | 21.33% | 16.75% |
| Sharpe ratio | 0.33 | 0.36 |
| Sortino ratio | 0.44 | 0.49 |
| Maximum drawdown | −29.4% (31-03-2026) | −22.3% (03-03-2025) |
| Beta | 1.00 | 0.85 |
| Alpha | −1.45% | +0.70% |
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 Microcap 250 Index Fund (Direct) | UTI Small Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +17.70% | +19.01% |
| Standard deviation | 21.06% | 15.51% |
| Sharpe ratio | 0.55 | 0.88 |
| Sortino ratio | 0.73 | 1.18 |
| Maximum drawdown | −29.4% (31-03-2026) | −22.3% (03-03-2025) |
| Beta | 1.00 | 0.81 |
| Alpha | −1.53% | +1.33% |
From daily NAVs, 11-07-2023 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.
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 Microcap 250 Index Fund (Direct)
UTI Small Cap Fund (Direct)
Nifty Microcap 250 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Motilal Oswal Nifty Microcap 250 Index Fund (Direct) | −29.4% | 11-12-2024 | 31-03-2026 | 23-09-2026 | 6 months | −11.4% |
| UTI Small Cap Fund (Direct) | −22.3% | 11-12-2024 | 03-03-2025 | 22-06-2026 | 16 months | −9.2% |
| Nifty Microcap 250 TRI | −28.1% | 11-12-2024 | 30-03-2026 | 18-08-2026 | 5 months | −10.8% |
From daily values since 11-07-2023, 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 Microcap 250 Index Fund (Direct)
UTI Small Cap Fund (Direct)
Nifty Microcap 250 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 Microcap 250 Index Fund (Direct)
UTI Small Cap Fund (Direct)
Nifty Microcap 250 TRI
Against Nifty Microcap 250 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Motilal Oswal Nifty Microcap 250 Index Fund (Direct) | 98% | 103% | 0.48% |
| UTI Small Cap Fund (Direct) | 78% | 84% | 8.70% |
From month-end values since 11-07-2023. 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 Microcap 250 Index vs UTI Small Cap: Portfolio Overlap
From each fund's latest monthly portfolio: Motilal Oswal Nifty Microcap 250 Index Fund, September 2026; UTI Small Cap Fund, September 2026
Holdings in common
- Overlap
- 11.1%
- Held by both
- 22
- Only in Motilal Oswal Nifty Microcap 250 Index
- 231
- Only in UTI Small Cap
- 85
| Security | % of Motilal Oswal Nifty Microcap 250 Index | % of UTI Small Cap |
|---|---|---|
| Ujjivan Small Finance Bank Limited | 1.43% | 1.86% |
| Grindwell Norton Limited | 1.04% | 1.11% |
| Voltamp Transformers Limited | 0.84% | 1.50% |
| Ratnamani Metals & Tubes Limited | 0.81% | 1.07% |
| Marksans Pharma Limited | 0.78% | 1.83% |
| Eris LifeSciences Limited | 0.72% | 1.25% |
| Metropolis Healthcare Limited | 0.65% | 1.04% |
| Indegene Limited | 0.69% | 0.54% |
| Sundram Fasteners Limited | 1.42% | 0.49% |
| Praj Industries Limited | 0.42% | 1.05% |
| Indo Count Industries Limited | 0.41% | 0.39% |
| V-Mart Retail Limited | 0.38% | 1.05% |
| Newgen Software Technologies Limited | 0.34% | 0.83% |
| Tips Music Limited | 0.34% | 1.37% |
| Godrej Agrovet Limited | 0.34% | 0.97% |
| Cera Sanitaryware Limited | 0.33% | 0.70% |
| Arvind Limited | 1.01% | 0.32% |
| Blue Jet Healthcare Ltd | 0.31% | 0.84% |
| Chalet Hotels Limited | 0.68% | 0.17% |
| Rategain Travel Technologies Limited | 0.58% | 0.17% |
| Subros Limited | 0.15% | 1.10% |
| H.G. Infra Engineering Limited | 0.09% | 0.23% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 11.1% means 11.1% 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 Microcap 250 Index Fund
| Security | % of fund |
|---|---|
| Astra Microwave Products Limited | 1.56% |
| The South Indian Bank Limited | 1.41% |
| The Karnataka Bank Limited | 1.40% |
| Shilpa Medicare Limited | 1.37% |
| Tamilnad Mercantile Bank Limited | 1.15% |
Largest holdings only in UTI Small Cap Fund
| Security | % of fund |
|---|---|
| EQ - ACUTAAS CHEMICALS LIMITED | 2.52% |
| EQ - NAVIN FLUORINE INTERNATIONAL L | 2.50% |
| EQ - KARUR VYSYA BANK LTD. | 2.41% |
| EQ - CITY UNION BANK | 1.89% |
| EQ - CAPLIN POINT LABORATORIES LTD | 1.87% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Motilal Oswal Nifty Microcap 250 Index | UTI Small Cap |
|---|---|---|
| Equity | 100.0% | 94.3% |
| Debt | 0.0% | 0.0% |
| Cash and others | -0.0% | 5.7% |
Market cap of stocks
| Market cap | Motilal Oswal Nifty Microcap 250 Index | UTI Small Cap |
|---|---|---|
| Large Cap | 0.0% | 0.0% |
| Mid Cap | 0.0% | 17.0% |
| Small Cap | 98.9% | 74.7% |
| Not on AMFI's list | 1.2% | 2.6% |
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 Microcap 250 Index | UTI Small Cap |
|---|---|---|
| Pharmaceuticals & Biotechnology | 7.8% | 11.7% |
| Industrial Products | 9.1% | 7.5% |
| Consumer Durables | 8.2% | 4.5% |
| Banks | 7.6% | 6.2% |
| Capital Markets | 0.8% | 6.7% |
| Healthcare Services | 3.3% | 6.5% |
| Chemicals & Petrochemicals | 4.6% | 5.9% |
| Aerospace & Defense | 5.2% | 0.0% |
| Auto Components | 4.9% | 4.7% |
The six largest sectors of each fund's stocks, % of the fund.
Motilal Oswal Nifty Microcap 250 Index vs UTI Small Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Motilal Oswal Nifty Microcap 250 Index Fund | UTI Small Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.72% | 1.07% |
| Base expense ratio (Direct) | 0.43% | 0.74% |
| Total expense ratio (Regular) | 1.25% | 2.03% |
| Base expense ratio (Regular) | 0.90% | 1.61% |
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 Nifty Microcap 250 Index Fund vs UTI Small Cap Fund: Frequently Asked Questions
What is the difference between Motilal Oswal Nifty Microcap 250 Index Fund and UTI Small Cap Fund?
Motilal Oswal Nifty Microcap 250 Index Fund is an Index fund, UTI Small Cap Fund is a Small Cap fund, run by Motilal Oswal Mutual Fund and UTI Mutual Fund. Their portfolios overlap 11.1%. Motilal Oswal Nifty Microcap 250 Index Fund charges 0.72% a year and UTI Small Cap Fund 1.07%.
Which has given higher returns, Motilal Oswal Nifty Microcap 250 Index Fund or UTI Small Cap Fund?
Over 1 year: Motilal Oswal Nifty Microcap 250 Index Fund −0.68%, UTI Small Cap Fund −3.03%. Over 3 years: Motilal Oswal Nifty Microcap 250 Index Fund +13.05% a year, UTI Small Cap Fund +12.11% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Motilal Oswal Nifty Microcap 250 Index Fund or UTI Small Cap Fund?
Motilal Oswal Nifty Microcap 250 Index Fund charges less: 0.72% a year against 1.07%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Motilal Oswal Nifty Microcap 250 Index Fund and UTI Small Cap Fund overlap?
11.1%. They hold 22 of the same securities, the largest shared ones being UJJIVANSFB, GRINDWELL, VOLTAMP. From each fund's latest monthly portfolio.
Which is riskier, Motilal Oswal Nifty Microcap 250 Index Fund or UTI Small Cap Fund?
On SEBI's riskometer, Motilal Oswal Nifty Microcap 250 Index Fund is rated Very High and UTI Small Cap Fund Very High. Over 3 years, the standard deviation of daily returns was 21.33% and 16.75% a year.
Which is better for SIP, Motilal Oswal Nifty Microcap 250 Index Fund or UTI Small Cap Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹3,95,367 in Motilal Oswal Nifty Microcap 250 Index Fund (XIRR 4.2% a year) and ₹3,97,605 in UTI Small Cap Fund (XIRR 4.6% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both Motilal Oswal Nifty Microcap 250 Index Fund and UTI Small Cap Fund?
Yes. 11.1% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Motilal Oswal Nifty Microcap 250 Index Fund and UTI Small Cap Fund?
Motilal Oswal Nifty Microcap 250 Index Fund: Swapnil Mayekar. UTI Small Cap Fund: Nitin Jain FM 1.
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.