Motilal Oswal Nifty Smallcap 250 Index Fund vs SBI Small Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Motilal Oswal Nifty Smallcap 250 Index Fund is an Index fund and SBI Small Cap Fund is a Small Cap fund. In the 3 years to 30-10-2026, Motilal Oswal Nifty Smallcap 250 Index Fund (Direct) returned 11.9% a year and SBI Small Cap Fund (Direct) returned 10.4% a year. Motilal Oswal Nifty Smallcap 250 Index Fund charges 0.46% a year and SBI Small Cap Fund 0.81% (Direct plans). Their portfolios overlap 15.7%: they hold 33 of the same securities.
Motilal Oswal Nifty Smallcap 250 Index Fund
Index
- 3 year return
- 11.9%
- Expense ratio
- 0.46%
- NAV
- ₹37.57
Which is better, Motilal Oswal Nifty Smallcap 250 Index or SBI 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 Smallcap 250 Index returned more over 5 years: 12.5% a year against 11.7%.
- Motilal Oswal Nifty Smallcap 250 Index returned more over 3 years: 11.9% a year against 10.4%.
- Motilal Oswal Nifty Smallcap 250 Index costs less: 0.46% a year against 0.81% (Direct plans).
- SBI Small Cap swung less over 3 years: a standard deviation of 14.2% a year against 19.0%.
- SBI Small Cap fell less in its worst fall since 11-09-2019: −33.9% against −42.4%.
- SBI Small Cap is the larger fund: ₹41,059 Cr against ₹1,243 Cr.
- Their portfolios overlap 15.7%: 33 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 Smallcap 250 Index Fund | SBI Small Cap Fund |
|---|---|---|
| Fund house | Motilal Oswal Mutual Fund | SBI Mutual Fund |
| Category | Index | Small Cap |
| AUM | ₹1,243 Cr (30-09-2026) | ₹41,059 Cr (30-09-2026) |
| NAV | ₹37.57 (Direct) | ₹197.88 (Direct) |
| Expense ratio (Direct) | 0.46% | 0.81% |
| Expense ratio (Regular) | 1.15% | 1.60% |
| Riskometer | Very High | Not available |
| Benchmark | Nifty Smallcap 250 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 Smallcap 250 Index vs SBI 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 Smallcap 250 Index Fund (Direct) | −5.80% | −6.01% | +0.39% | −3.58% | +11.89% | +12.52% | -- |
| SBI Small Cap Fund (Direct) | −5.10% | −3.38% | +2.31% | −1.32% | +10.37% | +11.72% | +17.03% |
| Small Cap average | −5.86% | −3.28% | +5.03% | +3.00% | +14.03% | +14.51% | +16.19% |
Category average: the average of the 36 Small Cap funds, same plan type.
Motilal Oswal Nifty Smallcap 250 Index vs SBI Small Cap: Year-wise Returns
| Year | Motilal Oswal Nifty Smallcap 250 IndexMotilal Oswal Nifty Smallcap 250 Index | SBI Small CapSBI Small Cap |
|---|---|---|
| 2026to date | +0.61% | +2.12% |
| 2025 | −5.63% | −4.08% |
| 2024 | +26.46% | +25.30% |
| 2023 | +48.32% | +26.62% |
| 2022 | −3.42% | +9.29% |
| 2021 | +61.24% | +49.11% |
Motilal Oswal Nifty Smallcap 250 Index vs SBI Small Cap: Rolling Returns
Every holding period of both funds, against Nifty Smallcap 250 TRI, the benchmark of Motilal Oswal Nifty Smallcap 250 Index Fund
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 Smallcap 250 Index Fund (Direct)
SBI Small Cap Fund (Direct)
Nifty Smallcap 250 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 Smallcap 250 Index | 0.0 | 0.0 | 0.0 | 3.5 | 19.4 | 29.2 | 47.9 | 25.3% | 24.4% | 11.0% | 42.8% | 0% |
| SBI Small Cap | 0.0 | 0.0 | 0.3 | 21.2 | 18.7 | 17.2 | 42.7 | 23.1% | 22.8% | 8.9% | 43.4% | 13% |
| Nifty Smallcap 250 TRI | 0.0 | 0.0 | 0.0 | 3.1 | 17.1 | 28.7 | 51.0 | 26.2% | 25.3% | 11.4% | 44.7% | -- |
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 Smallcap 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 11-09-2019. Past returns do not promise future returns.
Motilal Oswal Nifty Smallcap 250 Index vs SBI 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 11-09-2019 to 30-10-2026: 86 instalments, ₹8,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Motilal Oswal Nifty Smallcap 250 IndexMotilal Oswal Nifty Smallcap 250 Index Fund (Direct) | ₹8,60,000 | ₹16,23,671 | ₹7,63,671 | 17.4% |
| SBI Small CapSBI Small Cap Fund (Direct) | ₹8,60,000 | ₹15,35,489 | ₹6,75,489 | 15.9% |
Motilal Oswal Nifty Smallcap 250 IndexMotilal Oswal Nifty Smallcap 250 Index Fund (Direct)
SBI Small CapSBI 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 Smallcap 250 Index vs SBI 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 Smallcap 250 Index Fund (Direct) | SBI Small Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −3.58% | −1.32% |
| Standard deviation | 18.05% | 14.81% |
| Sharpe ratio | -0.49 | -0.44 |
| Sortino ratio | -0.66 | -0.61 |
| Maximum drawdown | −18.3% (23-03-2026) | −15.8% (23-03-2026) |
| Beta | 1.00 | 0.78 |
| Alpha | −0.42% | +1.57% |
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 Smallcap 250 Index Fund (Direct) | SBI Small Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.89% | +10.37% |
| Standard deviation | 19.01% | 14.22% |
| Sharpe ratio | 0.31 | 0.31 |
| Sortino ratio | 0.41 | 0.42 |
| Maximum drawdown | −26.2% (03-03-2025) | −22.4% (03-03-2025) |
| Beta | 1.00 | 0.73 |
| Alpha | −0.46% | +0.81% |
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 Smallcap 250 Index Fund (Direct) | SBI Small Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.52% | +11.72% |
| Standard deviation | 18.44% | 13.72% |
| Sharpe ratio | 0.36 | 0.43 |
| Sortino ratio | 0.47 | 0.58 |
| Maximum drawdown | −26.8% (20-06-2022) | −22.4% (03-03-2025) |
| Beta | 1.00 | 0.71 |
| Alpha | −0.59% | +1.36% |
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 Smallcap 250 Index Fund (Direct) | SBI Small Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +20.04% | +23.34% |
| Standard deviation | 19.60% | 14.98% |
| Sharpe ratio | 0.76 | 1.16 |
| Sortino ratio | 0.98 | 1.59 |
| Maximum drawdown | −42.4% (24-03-2020) | −40.3% (24-03-2020) |
| Beta | 0.99 | 0.72 |
| Alpha | −0.59% | +9.99% |
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 Smallcap 250 Index Fund (Direct)
SBI Small Cap Fund (Direct)
Nifty Smallcap 250 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Motilal Oswal Nifty Smallcap 250 Index Fund (Direct) | −42.4% | 24-01-2020 | 24-03-2020 | 17-11-2020 | 8 months | −9.6% |
| SBI Small Cap Fund (Direct) | −33.9% | 20-02-2020 | 24-03-2020 | 21-08-2020 | 5 months | −9.1% |
| Nifty Smallcap 250 TRI | −43.5% | 24-01-2020 | 24-03-2020 | 17-11-2020 | 8 months | −9.4% |
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 Smallcap 250 Index Fund (Direct)
SBI Small Cap Fund (Direct)
Nifty Smallcap 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 Smallcap 250 Index Fund (Direct)
SBI Small Cap Fund (Direct)
Nifty Smallcap 250 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 Smallcap 250 Index Fund (Direct)
SBI Small Cap Fund (Direct)
Nifty Smallcap 250 TRI
Against Nifty Smallcap 250 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Motilal Oswal Nifty Smallcap 250 Index Fund (Direct) | 98% | 100% | 0.52% |
| SBI Small Cap Fund (Direct) | 79% | 68% | 7.99% |
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 Smallcap 250 Index vs SBI Small Cap: Portfolio Overlap
From each fund's latest monthly portfolio: Motilal Oswal Nifty Smallcap 250 Index Fund, September 2026; SBI Small Cap Fund, September 2026
Holdings in common
- Overlap
- 15.7%
- Held by both
- 33
- Only in Motilal Oswal Nifty Smallcap 250 Index
- 216
- Only in SBI Small Cap
- 32
| Security | % of Motilal Oswal Nifty Smallcap 250 Index | % of SBI Small Cap |
|---|---|---|
| Navin Fluorine International Limited | 1.36% | 3.28% |
| Ather Energy Limited | 1.21% | 3.51% |
| City Union Bank Limited | 0.98% | 2.89% |
| Sansera Engineering Limited | 0.90% | 1.96% |
| Krishna Institute Of Medical Sciences Limited | 0.89% | 2.00% |
| Anand Rathi Wealth Limited | 0.87% | 2.17% |
| Kalpataru Projects International Limited | 0.70% | 2.66% |
| Carborundum Universal Limited | 0.65% | 1.51% |
| Cholamandalam Financial Holdings Limited | 0.62% | 1.33% |
| Elgi Equipments Limited | 0.59% | 1.48% |
| ZF Commercial Vehicle Control Systems India Limited | 0.48% | 2.39% |
| Brigade Enterprises Limited | 0.48% | 0.83% |
| Kajaria Ceramics Limited | 0.45% | 2.06% |
| Pine Labs Limited | 0.43% | 2.62% |
| Deepak Fertilizers and Petrochemicals Corporation Limited | 0.41% | 1.73% |
| Belrise Industries Ltd. | 0.41% | 2.55% |
| PVR INOX Limited | 0.40% | 0.42% |
| Aptus Value Housing Finance India Limited | 0.38% | 1.11% |
| Balrampur Chini Mills Limited | 0.34% | 1.78% |
| Honeywell Automation India Limited | 0.33% | 2.43% |
| EID Parry India Limited | 0.32% | 1.67% |
| Acutaas Chemicals Limited | 0.76% | 0.30% |
| Thangamayil Jewellery Limited | 0.27% | 1.59% |
| Urban Company Ltd | 0.25% | 2.06% |
| Tenneco Clean Air India Limited | 0.23% | 1.36% |
| Lemon Tree Hotels Limited | 0.23% | 0.33% |
| Doms Industries Limited | 0.21% | 1.69% |
| Privi Speciality Chemicals Limited | 0.21% | 1.66% |
| Deepak Nitrite Limited | 0.47% | 0.19% |
| Afcons Infrastructure Limited | 0.17% | 0.96% |
| Fractal Analytics Ltd | 0.16% | 0.83% |
| PhysicsWallah Limited | 0.33% | 0.15% |
| RHI Magnesita India Limited | 0.11% | 1.56% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 15.7% means 15.7% 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 Smallcap 250 Index Fund
| Security | % of fund |
|---|---|
| Sona BLW Precision Forgings Limited | 1.67% |
| Welspun Corp Limited | 1.60% |
| Karur Vysya Bank Limited | 1.38% |
| Sterlite Technologies Limited | 1.19% |
| RBL Bank Limited | 1.12% |
Largest holdings only in SBI Small Cap Fund
| Security | % of fund |
|---|---|
| Sundram Fasteners Ltd. | 2.77% |
| K.P.R. Mill Ltd. | 2.07% |
| NHPC Ltd. | 1.95% |
| SBFC Finance Ltd. | 1.86% |
| Happy Forgings Ltd. | 1.86% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Motilal Oswal Nifty Smallcap 250 Index | SBI Small Cap |
|---|---|---|
| Equity | 98.8% | 85.4% |
| Debt | 0.0% | 0.7% |
| Cash and others | 1.2% | 13.9% |
Market cap of stocks
| Market cap | Motilal Oswal Nifty Smallcap 250 Index | SBI Small Cap |
|---|---|---|
| Large Cap | 0.0% | 0.9% |
| Mid Cap | 2.7% | 1.9% |
| Small Cap | 95.2% | 82.4% |
| Not on AMFI's list | 1.0% | 0.2% |
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 Smallcap 250 Index | SBI Small Cap |
|---|---|---|
| Auto Components | 8.4% | 11.7% |
| Industrial Products | 8.6% | 10.3% |
| Chemicals & Petrochemicals | 5.7% | 7.8% |
| Consumer Durables | 2.8% | 7.8% |
| Pharmaceuticals & Biotechnology | 7.8% | 0.3% |
| Finance | 7.6% | 5.2% |
| Capital Markets | 5.4% | 2.2% |
| Construction | 3.2% | 4.2% |
The six largest sectors of each fund's stocks, % of the fund.
Motilal Oswal Nifty Smallcap 250 Index vs SBI Small Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Motilal Oswal Nifty Smallcap 250 Index Fund | SBI Small Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.46% | 0.81% |
| Base expense ratio (Direct) | 0.28% | 0.62% |
| Total expense ratio (Regular) | 1.15% | 1.60% |
| Base expense ratio (Regular) | 0.90% | 1.30% |
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 Smallcap 250 Index Fund vs SBI Small Cap Fund: Frequently Asked Questions
What is the difference between Motilal Oswal Nifty Smallcap 250 Index Fund and SBI Small Cap Fund?
Motilal Oswal Nifty Smallcap 250 Index Fund is an Index fund, SBI Small Cap Fund is a Small Cap fund, run by Motilal Oswal Mutual Fund and SBI Mutual Fund. Their portfolios overlap 15.7%. Motilal Oswal Nifty Smallcap 250 Index Fund charges 0.46% a year and SBI Small Cap Fund 0.81%.
Which has given higher returns, Motilal Oswal Nifty Smallcap 250 Index Fund or SBI Small Cap Fund?
Over 1 year: Motilal Oswal Nifty Smallcap 250 Index Fund −3.58%, SBI Small Cap Fund −1.32%. Over 3 years: Motilal Oswal Nifty Smallcap 250 Index Fund +11.89% a year, SBI Small Cap Fund +10.37% a year. Over 5 years: Motilal Oswal Nifty Smallcap 250 Index Fund +12.52% a year, SBI Small Cap Fund +11.72% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Motilal Oswal Nifty Smallcap 250 Index Fund or SBI Small Cap Fund?
Motilal Oswal Nifty Smallcap 250 Index Fund charges less: 0.46% a year against 0.81%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Motilal Oswal Nifty Smallcap 250 Index Fund and SBI Small Cap Fund overlap?
15.7%. They hold 33 of the same securities, the largest shared ones being NAVINFLUOR, ATHERENERG, CUB. From each fund's latest monthly portfolio.
Which is better for SIP, Motilal Oswal Nifty Smallcap 250 Index Fund or SBI Small Cap Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹8,14,656 in Motilal Oswal Nifty Smallcap 250 Index Fund (XIRR 11.3% a year) and ₹7,80,149 in SBI Small Cap Fund (XIRR 9.6% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Motilal Oswal Nifty Smallcap 250 Index Fund and SBI Small Cap Fund?
Yes. 15.7% 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.