Motilal Oswal Nifty MidSmall Healthcare Index Fund vs Nippon India Nifty Pharma ETF
Direct Plan, Growth option · Data as on 30-10-2026
Motilal Oswal Nifty MidSmall Healthcare Index Fund is a mutual fund and Nippon India Nifty Pharma ETF is a mutual fund. In the year to 30-10-2026, Motilal Oswal Nifty MidSmall Healthcare Index Fund (Direct) returned 16.5% and Nippon India Nifty Pharma ETF (Direct) returned 22.1%. Motilal Oswal Nifty MidSmall Healthcare Index Fund charges 0.80% a year and Nippon India Nifty Pharma ETF 0.23% (Direct plans). Their portfolios overlap 43.1%: they hold 14 of the same securities.
Motilal Oswal Nifty MidSmall Healthcare Index Fund
- 1 year return
- 16.5%
- Expense ratio
- 0.80%
- NAV
- ₹12.53
Nippon India Nifty Pharma ETF
- 1 year return
- 22.1%
- Expense ratio
- 0.23%
- NAV
- ₹27.89
Which is better, Motilal Oswal Nifty MidSmall Healthcare Index or Nippon India Nifty Pharma ETF? 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 Nifty Pharma ETF returned more over 1 year: 22.1% against 16.5%.
- Nippon India Nifty Pharma ETF costs less: 0.23% a year against 0.80% (Direct plans).
- Nippon India Nifty Pharma ETF fell less in its worst fall since 25-11-2024: −15.7% against −17.5%.
- Nippon India Nifty Pharma ETF holds more in large companies: 46.3% of the fund in large caps against 0.0%.
- Nippon India Nifty Pharma ETF is the larger fund: ₹1,736 Cr against ₹53 Cr.
- Their portfolios overlap 43.1%: 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 MidSmall Healthcare Index Fund | Nippon India Nifty Pharma ETF |
|---|---|---|
| Fund house | Motilal Oswal Mutual Fund | Nippon India Mutual Fund |
| Category | Not available | Not available |
| AUM | ₹53 Cr (30-09-2026) | ₹1,736 Cr (30-09-2026) |
| NAV | ₹12.53 (Direct) | ₹27.89 (Direct) |
| Expense ratio (Direct) | 0.80% | 0.23% |
| Expense ratio (Regular) | 1.22% | Not available |
| 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 MidSmall Healthcare Index vs Nippon India Nifty Pharma ETF: 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 MidSmall Healthcare Index Fund (Direct) | +1.79% | +0.06% | +15.24% | +16.51% | -- | -- | -- |
| Nippon India Nifty Pharma ETF (Direct) | +2.58% | +2.95% | +16.84% | +22.08% | +22.94% | +14.91% | -- |
Motilal Oswal Nifty MidSmall Healthcare Index vs Nippon India Nifty Pharma ETF: Year-wise Returns
| Year | Motilal Oswal Nifty MidSmall Healthcare IndexMotilal Oswal Nifty MidSmall Healthcare Index | Nippon India Nifty Pharma ETFNippon India Nifty Pharma ETF |
|---|---|---|
| 2026to date | +17.99% | +19.82% |
| 2025 | −1.00% | −2.46% |
| 2024 | -- | +39.59% |
| 2023 | -- | +34.44% |
| 2022 | -- | −10.86% |
Motilal Oswal Nifty MidSmall Healthcare Index vs Nippon India Nifty Pharma ETF: Rolling Returns
Every holding period of both funds, against Nifty MidSmall Healthcare TRI, the benchmark of Motilal Oswal Nifty MidSmall Healthcare Index Fund
Rolling returns
Every 1-year holding period, 229 of them, one for each trading day from 25-11-2025 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 MidSmall Healthcare Index Fund (Direct)
Nippon India Nifty Pharma ETF (Direct)
Nifty MidSmall Healthcare TRI
to
Dec 2025Feb 2025
to
Feb 2026Apr 2025
to
Apr 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 MidSmall Healthcare Index | 8.3 | 16.2 | 14.4 | 28.8 | 31.4 | 0.9 | 0.0 | 10.7% | 12.6% | −2.1% | 20.9% | 0% |
| Nippon India Nifty Pharma ETF | 3.9 | 20.4 | 15.7 | 20.9 | 24.3 | 13.9 | 0.9 | 11.7% | 13.2% | −3.0% | 25.9% | 53% |
| Nifty MidSmall Healthcare TRI | 6.1 | 16.6 | 12.2 | 27.1 | 34.9 | 3.1 | 0.0 | 11.4% | 13.3% | −1.5% | 21.7% | -- |
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 MidSmall Healthcare 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 25-11-2024. Past returns do not promise future returns.
Motilal Oswal Nifty MidSmall Healthcare Index vs Nippon India Nifty Pharma ETF: 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 25-11-2024 to 30-10-2026: 24 instalments, ₹2,40,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Motilal Oswal Nifty MidSmall Healthcare IndexMotilal Oswal Nifty MidSmall Healthcare Index Fund (Direct) | ₹2,40,000 | ₹2,82,623 | ₹42,623 | 16.7% |
| Nippon India Nifty Pharma ETFNippon India Nifty Pharma ETF (Direct) | ₹2,40,000 | ₹2,87,902 | ₹47,902 | 18.7% |
Motilal Oswal Nifty MidSmall Healthcare IndexMotilal Oswal Nifty MidSmall Healthcare Index Fund (Direct)
Nippon India Nifty Pharma ETFNippon India Nifty Pharma ETF (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 MidSmall Healthcare Index vs Nippon India Nifty Pharma ETF: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Motilal Oswal Nifty MidSmall Healthcare Index Fund (Direct) | Nippon India Nifty Pharma ETF (Direct) |
|---|---|---|
| Return (CAGR) | +16.51% | +22.08% |
| Standard deviation | 15.34% | 14.13% |
| Sharpe ratio | 0.73 | 1.19 |
| Sortino ratio | 1.09 | 1.86 |
| Maximum drawdown | −10.4% (23-10-2026) | −7.5% (01-02-2026) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.85% | −0.28% |
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 MidSmall Healthcare Index Fund (Direct) | Nippon India Nifty Pharma ETF (Direct) |
|---|---|---|
| Return (CAGR) | +11.42% | +13.22% |
| Standard deviation | 16.20% | 15.07% |
| Sharpe ratio | 0.36 | 0.50 |
| Sortino ratio | 0.49 | 0.72 |
| Maximum drawdown | −17.5% (28-02-2025) | −21.0% (13-03-2023) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.77% | −0.26% |
From daily NAVs, 25-11-2024 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 MidSmall Healthcare Index Fund (Direct)
Nippon India Nifty Pharma ETF (Direct)
Nifty MidSmall Healthcare TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Motilal Oswal Nifty MidSmall Healthcare Index Fund (Direct) | −17.5% | 07-01-2025 | 28-02-2025 | 15-07-2025 | 5 months | −2.4% |
| Nippon India Nifty Pharma ETF (Direct) | −15.7% | 02-01-2025 | 28-02-2025 | 04-05-2026 | 14 months | −0.3% |
| Nifty MidSmall Healthcare TRI | −17.5% | 07-01-2025 | 28-02-2025 | 15-07-2025 | 5 months | −2.4% |
From daily values since 25-11-2024, 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 MidSmall Healthcare Index Fund (Direct)
Nippon India Nifty Pharma ETF (Direct)
Nifty MidSmall Healthcare TRI
Against Nifty MidSmall Healthcare TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Motilal Oswal Nifty MidSmall Healthcare Index Fund (Direct) | 98% | 101% | 0.10% |
| Nippon India Nifty Pharma ETF (Direct) | 89% | 86% | 6.27% |
From month-end values since 25-11-2024. 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 MidSmall Healthcare Index vs Nippon India Nifty Pharma ETF: Portfolio Overlap
From each fund's latest monthly portfolio: Motilal Oswal Nifty MidSmall Healthcare Index Fund, September 2026; Nippon India Nifty Pharma ETF, September 2026
Holdings in common
- Overlap
- 43.1%
- Held by both
- 14
- Only in Motilal Oswal Nifty MidSmall Healthcare Index
- 16
- Only in Nippon India Nifty Pharma ETF
- 6
| Security | % of Motilal Oswal Nifty MidSmall Healthcare Index | % of Nippon India Nifty Pharma ETF |
|---|---|---|
| Laurus Labs Limited | 11.83% | 7.82% |
| Lupin Limited | 7.57% | 5.00% |
| Aurobindo Pharma Limited | 7.09% | 4.69% |
| Glenmark Pharmaceuticals Limited | 5.39% | 3.56% |
| Alkem Laboratories Limited | 4.78% | 3.16% |
| Mankind Pharma Limited | 4.35% | 2.88% |
| IPCA Laboratories Limited | 4.11% | 2.71% |
| Biocon Limited | 3.96% | 2.62% |
| Gland Pharma Limited | 3.54% | 2.34% |
| Sai Life Sciences Limited | 3.23% | 2.14% |
| Wockhardt Limited | 2.68% | 1.77% |
| Ajanta Pharma Limited | 2.53% | 1.67% |
| Abbott India Limited | 2.17% | 1.43% |
| Piramal Pharma Limited | 1.97% | 1.30% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 43.1% means 43.1% 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 MidSmall Healthcare Index Fund
| Security | % of fund |
|---|---|
| Fortis Healthcare Limited | 6.15% |
| Krishna Institute Of Medical Sciences Limited | 3.06% |
| Aster DM Quality Care Limited | 2.86% |
| Neuland Laboratories Limited | 2.82% |
| Acutaas Chemicals Limited | 2.61% |
Largest holdings only in Nippon India Nifty Pharma ETF
| Security | % of fund |
|---|---|
| Sun Pharmaceutical Industries Limited | 19.50% |
| Divi's Laboratories Limited | 11.97% |
| Cipla Limited | 7.68% |
| Dr. Reddy's Laboratories Limited | 7.62% |
| Torrent Pharmaceuticals Limited | 7.16% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Motilal Oswal Nifty MidSmall Healthcare Index | Nippon India Nifty Pharma ETF |
|---|---|---|
| Equity | 100.1% | 99.9% |
| Debt | 0.0% | 0.0% |
| Cash and others | -0.1% | 0.1% |
Market cap of stocks
| Market cap | Motilal Oswal Nifty MidSmall Healthcare Index | Nippon India Nifty Pharma ETF |
|---|---|---|
| Large Cap | 0.0% | 46.3% |
| Mid Cap | 67.9% | 46.1% |
| Small Cap | 32.2% | 7.5% |
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 MidSmall Healthcare Index | Nippon India Nifty Pharma ETF |
|---|---|---|
| Pharmaceuticals & Biotechnology | 79.8% | 99.9% |
| Healthcare Services | 19.3% | 0.0% |
| Healthcare Equipment & Supplies | 1.0% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
Motilal Oswal Nifty MidSmall Healthcare Index vs Nippon India Nifty Pharma ETF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Motilal Oswal Nifty MidSmall Healthcare Index Fund | Nippon India Nifty Pharma ETF |
|---|---|---|
| Total expense ratio (Direct) | 0.80% | 0.23% |
| Base expense ratio (Direct) | 0.54% | 0.18% |
| Total expense ratio (Regular) | 1.22% | 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 MidSmall Healthcare Index Fund vs Nippon India Nifty Pharma ETF: Frequently Asked Questions
What is the difference between Motilal Oswal Nifty MidSmall Healthcare Index Fund and Nippon India Nifty Pharma ETF?
Motilal Oswal Nifty MidSmall Healthcare Index Fund is a mutual fund, Nippon India Nifty Pharma ETF is a mutual fund, run by Motilal Oswal Mutual Fund and Nippon India Mutual Fund. Their portfolios overlap 43.1%. Motilal Oswal Nifty MidSmall Healthcare Index Fund charges 0.80% a year and Nippon India Nifty Pharma ETF 0.23%.
Which has given higher returns, Motilal Oswal Nifty MidSmall Healthcare Index Fund or Nippon India Nifty Pharma ETF?
Over 1 year: Motilal Oswal Nifty MidSmall Healthcare Index Fund +16.51%, Nippon India Nifty Pharma ETF +22.08%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Motilal Oswal Nifty MidSmall Healthcare Index Fund or Nippon India Nifty Pharma ETF?
Nippon India Nifty Pharma ETF charges less: 0.23% a year against 0.80%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Motilal Oswal Nifty MidSmall Healthcare Index Fund and Nippon India Nifty Pharma ETF overlap?
43.1%. They hold 14 of the same securities, the largest shared ones being LAURUSLABS, LUPIN, AUROPHARMA. From each fund's latest monthly portfolio.
Can I invest in both Motilal Oswal Nifty MidSmall Healthcare Index Fund and Nippon India Nifty Pharma ETF?
Yes. 43.1% 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.