Motilal Oswal · Other ETFs

Motilal Oswal Nifty Midcap 100 ETF

Other Scheme - Other ETFs Regular plan benchmark: Nifty Midcap 100 TRI launched 12 Jan 2011 open-ended

At a glance

the fund as it stands today, from public disclosures

NAV, 21 Sep 2026

₹66.97

−0.28% since 18 Sep 2026, the previous NAV

1 year

6.2%

return

3 years

16.1%

a year

5 years

16.1%

a year

Since launch

15.5%

a year, over 12.0 years

Assets (AUM)

₹910 Cr

Aug 2026 factsheet

Expense ratio, Direct / Regular

0.00% / 0.28%

a year, as of Aug 2026

Holdings

101

top ten are 23% of the fund · Aug 2026

Disclosed history

8.3 yrs

Mar 2018 – Aug 2026 · 5 of 11 checks could run

Fund managers

Swapnil Mayekar · since at least Oct 2020Dishant Mehta · since Oct 2024 · assistant managerRakesh Shetty · since Dec 2024 · debt portion

All managers →

What only Anveshan can tell you

measured from the disclosures, not quoted from a brochure — each links to how it was done

P5Cost, measured

Cannot be measured: needs both a Direct and a Regular growth class.

The Regular and Direct plans hold the same portfolio; the Regular one pays a distributor out of your money every day. The gap between the two NAVs is that cost, measured from the NAVs rather than quoted from a document.

See how it is measured →

P7Whose record

Run by Swapnil Mayekar for at least 5.9 yrs

with Dishant Mehta, Rakesh Shetty · the factsheet archive starts Oct 2020, so this is a floor. A return earned before they arrived is the house's record, not theirs — the tenure table shows the fund against its category over exactly their months.

Swapnil Mayekar's other funds →

NAVTracking gap

Not replicated: the portfolio cannot be priced line by line in this build.

Each day, the NAV the fund published against the NAV its last disclosed portfolio would have produced at that day's prices. A gap that opens and stays is a change the fund has made and not disclosed yet.

See the daily gap →

P4Consistency

Beat its category in 67% of three-year stretches, and averaged +3.3 percentage points a year across all of them

109 rolling windows since 2014 · ahead by 8.2 percentage points a year when it won, behind by 6.8 when it lost. A single five-year figure depends on the day you look; the share of stretches won does not — and the average margin says whether winning often was worth anything.

See every window →

headline and record disagree One check found the headline number and the underlying record pointing different ways — marked on the cards below.

NAV and drawdown

Regular plan class · as of 21 Sep 2026

Month-end NAV, indexed to 100 at Sep 2014

145 month-ends · ₹11.91 → ₹66.97, 5.6× since Sep 2014

Deepest fall (max drawdown)

−21.1%

24 Sep 2024 → 28 Feb 2025

Worst month

−11.0%

Mar 2026

Days to recover

257

from the deepest trough back to the old high

Drawdown is measured on the last year of daily NAV; trailing returns are CAGR of the regular growth class. A single end date decides them — the consistency card (P4) below is the record that does not, and it reports both how often the fund beat its category and by how much, because the first without the second can point the wrong way.

Holdings

Aug 2026 disclosure · 101 lines · when each was first held and the change over the last three disclosures

#	Holding	Sector	Weight	First held	Held for	3-mo change
1	BSE Limited equity	Capital Markets	3.84%	Mar 2024	2.5 yrs	−1.25% points
2	The Federal Bank Limited equity	Banks	2.51%	Mar 2018	8.5 yrs	+0.37% points
3	Multi Commodity Exchange of India Limited equity	Capital Markets	2.48%	Mar 2026	6 mo	+0.22% points
4	Laurus Labs Limited equity	Pharmaceuticals & Biotechnology	2.13%	Mar 2026	6 mo	+0.54% points
5	One 97 Communications Limited equity	Financial Technology (Fintech)	2.07%	Mar 2023	3.5 yrs	+0.66% points
6	Hero MotoCorp Limited equity	Automobiles	2.02%	Sep 2025	1.0 yrs	+0.11% points
7	Coforge Limited equity	IT - Software	1.98%	Jun 2025	1.3 yrs	+0.49% points
8	IndusInd Bank Limited equity	Banks	1.92%	Sep 2025	1.0 yrs	+0.11% points
9	PB Fintech Limited equity	Financial Technology (Fintech)	1.86%	Mar 2022	4.5 yrs	+0.12% points
10	Bharat Heavy Electricals Limited equity	Electrical Equipment	1.85%	Mar 2025	1.5 yrs	+0.02% points
11	Dixon Technologies (India) Limited equity	Consumer Durables	1.76%	Mar 2021	5.5 yrs	+0.33% points
12	AU Small Finance Bank Limited equity	Banks	1.76%	Mar 2018	8.5 yrs	+0.09% points
13	Persistent Systems Ltd equity	IT - Software	1.74%	Mar 2024	2.5 yrs	+0.04% points
14	Suzlon Energy Limited equity	Electrical Equipment	1.65%	Mar 2024	2.5 yrs	−0.43% points
15	IDFC First Bank Limited equity	Banks	1.63%	Mar 2018	8.5 yrs	+0.21% points
16	Bharat Forge Limited equity	Auto Components	1.60%	Mar 2018	8.5 yrs	+0.03% points
17	GE Vernova T&D India Limited equity	Electrical Equipment	1.58%	Mar 2026	6 mo	−0.34% points
18	Lupin Limited equity	Pharmaceuticals & Biotechnology	1.52%	Sep 2022	4.0 yrs	−0.13% points
19	Polycab India Limited equity	Industrial Products	1.44%	Jun 2020	6.3 yrs	−0.06% points
20	Info Edge India Ltd equity	Retailing	1.44%	Mar 2026	6 mo	+0.30% points
21	Ashok Leyland Limited equity	Agricultural, Commercial & Construction Vehicles	1.44%	Jun 2020	6.3 yrs	+0.10% points
22	Indus Towers Limited equity	Telecom - Services	1.43%	Sep 2023	3.0 yrs	−0.29% points
23	FSN E-Commerce Ventures Limited equity	Retailing	1.37%	Sep 2023	3.0 yrs	+0.29% points
24	Aurobindo Pharma Limited equity	Pharmaceuticals & Biotechnology	1.36%	Mar 2022	4.5 yrs	+0.16% points
25	Fortis Healthcare Limited equity	Healthcare Services	1.35%	Sep 2025	1.0 yrs	−0.10% points
26	Marico Limited equity	Agricultural Food & other Products	1.24%	Sep 2024	2.0 yrs	−0.07% points
27	Hitachi Energy India Limited equity	Electrical Equipment	1.23%	Sep 2025	1.0 yrs	−0.24% points
28	Max Financial Services Limited equity	Insurance	1.19%	Mar 2018	8.5 yrs	−0.14% points
29	APL Apollo Tubes Limited equity	Industrial Products	1.16%	Sep 2023	3.0 yrs	+0.16% points
30	Yes Bank Limited equity	Banks	1.15%	Mar 2022	4.5 yrs	−0.07% points
31	Swiggy Limited equity	Retailing	1.14%	Sep 2025	1.0 yrs	+0.08% points
32	Vodafone Idea Limited equity	Telecom - Services	1.13%	Jun 2020	6.3 yrs	−0.03% points
33	ICICI Lombard General Insurance Company Limited equity	Insurance	1.09%	Mar 2026	6 mo	−0.21% points
34	Glenmark Pharmaceuticals Limited equity	Pharmaceuticals & Biotechnology	1.07%	Mar 2025	1.5 yrs	+0.04% points
35	SRF Limited equity	Chemicals & Petrochemicals	1.06%	Sep 2024	2.0 yrs	−0.12% points
36	The Phoenix Mills Limited equity	Realty	1.01%	Sep 2024	2.0 yrs	+0.02% points
37	KEI Industries Limited equity	Industrial Products	1.01%	Sep 2025	1.0 yrs	+0.03% points
38	Radico Khaitan Limited equity	Beverages	1.01%	Mar 2026	6 mo	+0.18% points
39	Hindustan Petroleum Corporation Limited equity	Petroleum Products	1.00%	Mar 2022	4.5 yrs	−0.14% points
40	National Aluminium Company Limited equity	Non - Ferrous Metals	0.98%	Mar 2025	1.5 yrs	−0.16% points
41	Aditya Birla Capital Limited equity	Finance	0.96%	Mar 2019	7.5 yrs	+0.06% points
42	GMR Airports Limited equity	Transport Infrastructure	0.95%	Mar 2024	2.5 yrs	−0.13% points
43	MphasiS Limited equity	IT - Software	0.92%	Mar 2023	3.5 yrs	+0.02% points
44	JSW Energy Limited equity	Power	0.91%	Mar 2026	6 mo	−0.05% points
45	Indian Bank equity	Banks	0.91%	Sep 2021	5.0 yrs	+0.03% points
46	UPL Limited equity	Fertilizers & Agrochemicals	0.90%	Mar 2024	2.5 yrs	−0.19% points
47	Havells India Limited equity	Consumer Durables	0.90%	Mar 2026	6 mo	+0.01% points
48	Alkem Laboratories Limited equity	Pharmaceuticals & Biotechnology	0.89%	Sep 2021	5.0 yrs	−0.08% points
49	Vishal Mega Mart Limited equity	Retailing	0.88%	Mar 2025	1.5 yrs	+0.10% points
50	NMDC Limited equity	Minerals & Mining	0.87%	Mar 2023	3.5 yrs	−0.04% points
51	360 One WAM Limited equity	Capital Markets	0.87%	Sep 2025	1.0 yrs	+0.01% points
52	Oracle Financial Services Software Limited equity	IT - Software	0.86%	Mar 2024	2.5 yrs	+0.15% points
53	Tube Investments Of India Limited equity	Auto Components	0.85%	Sep 2022	4.0 yrs	−0.16% points
54	Biocon Limited equity	Pharmaceuticals & Biotechnology	0.84%	Mar 2023	3.5 yrs	−0.08% points
55	NHPC Limited equity	Power	0.83%	Mar 2025	1.5 yrs	+0.08% points
56	Steel Authority of India Limited equity	Ferrous Metals	0.81%	Sep 2022	4.0 yrs	−0.08% points
57	Prestige Estates Projects Limited equity	Realty	0.79%	Mar 2018	8.5 yrs	+0.10% points
58	Mankind Pharma Limited equity	Pharmaceuticals & Biotechnology	0.78%	Jul 2023	3.2 yrs	−0.03% points
59	L&T Finance Limited equity	Finance	0.78%	Jun 2020	6.3 yrs	+0.05% points
60	Godrej Properties Limited equity	Realty	0.78%	Sep 2019	7.0 yrs	−0.01% points
61	Voltas Limited equity	Consumer Durables	0.78%	Mar 2018	8.5 yrs	−0.07% points
62	MRF Limited equity	Auto Components	0.78%	Sep 2021	5.0 yrs	+0.03% points
63	Oil India Limited equity	Oil	0.75%	Mar 2019	7.5 yrs	−0.03% points
64	Colgate Palmolive (India) Limited equity	Personal Products	0.72%	Sep 2024	2.0 yrs	−0.09% points
65	Waaree Energies Limited equity	Electrical Equipment	0.71%	Mar 2025	1.5 yrs	−0.19% points
66	Mahindra & Mahindra Financial Services Limited equity	Finance	0.71%	Mar 2018	8.5 yrs	+0.11% points
67	Kalyan Jewellers India Limited equity	Consumer Durables	0.66%	Mar 2024	2.5 yrs	+0.25% points
68	Supreme Industries Limited equity	Industrial Products	0.66%	Mar 2024	2.5 yrs	−0.03% points
69	Coromandel International Limited equity	Fertilizers & Agrochemicals	0.65%	Sep 2025	1.0 yrs	+0.03% points
70	Page Industries Limited equity	Textiles & Apparels	0.65%	Sep 2023	3.0 yrs	−0.07% points
71	Dabur India Limited equity	Personal Products	0.64%	Sep 2025	1.0 yrs	−0.15% points
72	Lenskart Solutions Limited equity	Retailing	0.64%	Mar 2026	6 mo	+0.18% points
73	Oberoi Realty Limited equity	Realty	0.63%	Mar 2018	8.5 yrs	+0.03% points
74	Tata Communications Limited equity	Telecom - Services	0.58%	Sep 2021	5.0 yrs	−0.11% points
75	Exide Industries Limited equity	Auto Components	0.57%	Sep 2024	2.0 yrs	+0.04% points
76	Jubilant Foodworks Limited equity	Leisure Services	0.56%	Sep 2022	4.0 yrs	+0.06% points
77	PI Industries Limited equity	Fertilizers & Agrochemicals	0.55%	Mar 2024	2.5 yrs	−0.12% points
78	SBI Cards and Payment Services Limited equity	Finance	0.55%	Sep 2024	2.0 yrs	−0.01% points
79	Blue Star Limited equity	Consumer Durables	0.54%	Sep 2025	1.0 yrs	−0.08% points
80	Astral Limited equity	Industrial Products	0.53%	Sep 2021	5.0 yrs	−0.05% points
81	Container Corporation of India Limited equity	Transport Services	0.51%	Mar 2021	5.5 yrs	+0.03% points
82	LG Electronics India Ltd equity	Consumer Durables	0.50%	Mar 2026	6 mo	+0.10% points
83	Adani Total Gas Limited equity	Gas	0.49%	Mar 2025	1.5 yrs	−0.15% points
84	Bank of India equity	Banks	0.49%	Mar 2018	8.5 yrs	−0.02% points
85	Motilal Oswal Financial Services Limited equity	Capital Markets	0.47%	Mar 2025	1.5 yrs	+0.06% points
86	LIC Housing Finance Limited equity	Finance	0.46%	Mar 2019	7.5 yrs	−0.02% points
87	ICICI Prudential Asset Management Company Limited equity	Capital Markets	0.43%	Mar 2026	6 mo	+0.06% points
88	Billionbrains Garage Ventures Ltd equity	Capital Markets	0.42%	Mar 2026	6 mo	+0.08% points
89	Indian Railway Catering And Tourism Corporation Limited equity	Leisure Services	0.42%	Mar 2025	1.5 yrs	−0.04% points
90	Cochin Shipyard Limited equity	Industrial Manufacturing	0.37%	Sep 2024	2.0 yrs	0.00% points
91	Tata Elxsi Limited equity	IT - Software	0.35%	Mar 2021	5.5 yrs	−0.09% points
92	Premier Energies Limited equity	Electrical Equipment	0.35%	Mar 2025	1.5 yrs	−0.02% points
93	Patanjali Foods Limited equity	Agricultural Food & other Products	0.34%	Sep 2022	4.0 yrs	−0.13% points
94	Rail Vikas Nigam Limited equity	Construction	0.34%	Sep 2023	3.0 yrs	−0.08% points
95	Bharat Dynamics Limited equity	Aerospace & Defense	0.34%	May 2024	2.3 yrs	+0.01% points
96	KPIT Technologies Limited equity	IT - Software	0.27%	Sep 2023	3.0 yrs	−0.11% points
97	Indian Renewable Energy Development Agency Limited equity	Finance	0.27%	Sep 2024	2.0 yrs	−0.05% points
98	Housing & Urban Development Corporation Limited equity	Finance	0.26%	Sep 2024	2.0 yrs	−0.05% points
99	Godfrey Phillips India Limited equity	Cigarettes & Tobacco Products	0.25%	Sep 2025	1.0 yrs	−0.03% points
100	Tata Investment Corporation Limited equity	Finance	0.24%	Mar 2026	6 mo	−0.03% points
101	TREPS / cash equivalents Net Receivables / (Payables) · cash equivalent	—	0.09%	Sep 2020	6.0 yrs	+0.07% points

Showing 1–101 of 101 rows per page10 25 50all

Largest sectors, Aug 2026 · grey: a year ago

Banks10.4% · 9.3%

Pharmaceuticals & Biotechnology8.6% · 6.7%

Capital Markets8.5% · 5.7%

Electrical Equipment7.4% · 4.2%

IT - Software6.1% · 7.6%

Retailing5.5%

Consumer Durables5.1% · 4.3%

Industrial Products4.8% · 6.0%

share of the book05%10%15%

By market cap, Aug 2026

Large cap0.4%

Mid cap93.2%

Small / micro cap4.6%

Cash & equivalents0.1%

Not classified1.7%

share of the book025%50%75%100%

"Not classified" is what no cap tier could be inferred for — newly listed names, or lines without an ISIN.

Composition by market cap, month by month — what the fund actually held against what its label says

Large cap 0%
Mid cap 93%
Small / micro 5%
Cash & other 0%

The seven checks, in full

each: the plain claim, where it sits in the category, and — folded — how it is measured and the case against. A flag fires only where headline and record disagree.

P4 Consistency, not a single end date headline and record disagree

Beat its category in 67% of three-year stretches, and averaged +3.3 percentage points a year across all of them

109 rolling windows since 2014 · ahead by 8.2 percentage points a year when it won, behind by 6.8 when it lost

What this means. Take every three-year stretch since the fund had a NAV, one starting each month, and ask two things of each: did it beat the typical fund in its category, and by how much. Counting the wins tells you the record does not depend on when you happen to look; averaging the margin tells you whether winning often was worth anything, because four small wins do not pay for one large loss.

How often, and by how much. The count and the average agree. Ahead by 8.2 percentage points a year in the 73 windows it won and behind by 6.8 in the 36 it lost, so the average across all 109 is +3.3 percentage points. The worst window ended Apr 2020, 12.5 percentage points behind.

Why this matters: Can a fund beat its category most of the time and still be behind? 7 min

67%

lowest in categoryhighest in category

73th percentile · above median of 122 funds · category median 30%

windows measured109windows won73average across every window+3.27% points a year · median +6.47when ahead, by how much+8.24% points a year over 73 windowswhen behind, by how much−6.80% points a year over 36 windowsworst window−12.55% points a year, ended Apr 2020best window+13.92% points a year, ended Jan 2024non-overlapping windows in that span4 — the rolling count overlaps, this does not

Fund minus category, each rolling three-year window

ahead of categorybehind

Each bar is one window's margin in percentage points a year. The height of the bars, not the count of green ones, is what the average across every window measures.

A modest five-year number over a record that beat its category 67% of the time. Rolling every three-year window forward month by month gives hundreds of overlapping observations instead of one. This fund was ahead of its category median in 67% of them, which points the opposite way to the headline figure. A single end date decided that headline.

How it is measured, and the case against

A fund that beats its category in most rolling three-year windows has a record; one that beats it in a few has an end date. How often it won and by how much are different questions, and this card answers both, because a fund can win four windows in five and still be behind across all five.

How often has it beaten its category, across every window?

Why this might matterRolling every three-year window forward month by month gives hundreds of overlapping observations instead of one. A single end date decides a headline five-year figure; the share of windows won cannot be flattered by when you happen to look. The average margin across every window is that share and the payoff multiplied together — win share x average beat plus loss share x average shortfall is exactly the average — so a high share bought with a few ruinous windows cannot hide behind the count.

Why it might notRolling windows overlap heavily, so they are not independent observations and the true sample is far smaller than the count suggests.

P5 Cost, measured

Not measurable yet. Needs a Direct and a Regular growth class with overlapping NAV history.

What this means. The Regular and Direct plans hold the same portfolio; the Regular one pays a distributor out of your money every day. The gap between the two NAVs is that cost, measured from the NAVs rather than quoted from a document.

Why this matters: What does a Regular plan actually cost? 6 min

How it is measured, and the case against

The Direct plan is the same portfolio, priced differently; the divergence of the two NAVs is the cost, measured rather than quoted.

What does the Regular plan actually cost against its Direct twin?

Why this might matterSame manager, same holdings, same day. The gap between the two NAV series is the one number on this page that is knowable today rather than hoped for, and it compounds for as long as the units are held.

Why it might notA Regular plan buys advice. If that advice stops someone selling in a drawdown it can be worth more than the fee — the cost is visible and the behavioural saving is not, which makes this comparison unfair in exactly one direction.

P1 Churn, and what it bought

Turns over 64% of the portfolio a year

+0.08% points of excess return per unit of turnover

What this means. How much of the portfolio was bought and sold in a year, computed from what the fund disclosed each month. Trading costs something certain; the extra return it is meant to buy is not.

Why this matters: What does a monthly portfolio not tell you? 6 min

64% a year

costliest in categorycheapest in category

20th percentile · bottom quartile of 158 funds · category median 43%

excess return per unit of turnover+0.08% points

How it is measured, and the case against

Turnover measured from consecutive disclosures — Σ|Δweight|/2 — costs something certain; the excess return it is meant to buy is not.

Is the trading paying for itself?

Why this might matterAMCs define their own turnover figure inconsistently. This one is computed from what the fund disclosed month to month, so two funds are comparable on it. Read it beside the excess return per unit of turnover.

Why it might notTurnover computed from month-end snapshots misses everything bought and sold inside a month, and a fund forced to sell by redemptions is charged for churn it did not choose.

P2 Conviction or inertia

Typical top-10 holding kept 17 months

What this means. How long a typical top-10 position has been in the top ten. Long-held positions are a decision; a top ten that changes every quarter is a reaction.

17 months

lowest in categoryhighest in category

34th percentile · below median of 160 funds · category median 27 months

active sharenot yet computable — needs index constituent files

How it is measured, and the case against

The median months a top-10 position has been held separates a portfolio somebody chose from one that drifted.

How long does a top-10 position stay a top-10 position?

Why this might matterConcentration is how a manager expresses conviction, and persistence is how long they keep it. Long-held positions with a rising weight are a decision; a top ten that turns over every quarter is a reaction.

Why it might notPersistence without active share is inertia: a portfolio of 166 names that tracks its category closely has diversified away the reason to pay for it. Active share needs index constituent files, which are not loaded yet.

P3 Hit rate of the top ten

5 of 10 top picks beat their peers over the next 6 months, and averaged 3.8 percentage points ahead of them

940 positions judged, one disclosure at a time · ahead by 20.8 percentage points when it won, behind by 15.1 when it lost

What this means. Take each month's ten largest holdings and check whether each one beat the typical stock its category holds over the next six months, and by how much. A blended return can hide two wins and eight losses; a count of wins can hide one position that lost half its value.

How often, and by how much. The count and the average agree. Ahead by 20.8 percentage points in the 495 positions it won and behind by 15.1 in the 445 it lost, so the average across all 940 is +3.8 percentage points. The worst position was INE051B01021 at the Mar 2018 disclosure, 78.0 percentage points behind.

Why this matters: Can a fund beat its category most of the time and still be behind? 7 min

53%

lowest in categoryhighest in category

53th percentile · above median of 145 funds

positions judged940beat the median stock495average across every position+3.81% points · median +1.47when ahead, by how much+20.78% points over 495 positionswhen behind, by how much−15.13% points over 445 positionsworst position−78.02% points, INE051B01021 at the Mar 2018 disclosurebest position+122.99% points, INE399L01023 at the Feb 2022 disclosure

How it is measured, and the case against

A manager's largest bets, judged one by one over the following six months, say more than the fund's blended return — and how far each one beat or missed the median stock says more than counting how many did.

Of its top-10 positions, how often did they beat the category-median stock?

Why this might matterA fund can beat its category on two positions and lose on eight; the hit rate shows the pattern the aggregate hides. The average margin then shows what the hit rate hides in turn: six winners worth a point each do not pay for four losers worth ten, and only the margin says which happened.

Why it might notSix months is short, sizing matters more than counting, and a manager who is right on the biggest position and wrong on nine small ones has done their job — the margins here are unweighted, so they answer the counting question better, not the sizing one. Overlapping disclosures judge the same position again each month it is held, so one long-held winner is counted many times. And this is a description of six months already past, not a forecast of the next six.

P6 Size against edge

₹910 Cr, 77th percentile in category; 57% of growth came from inflows

smaller than 23% of the funds in its category (160 funds) · AUM Aug 2023 → Aug 2026 · Regular plan expense ratio 0.28%

What this means. Where the fund sits by size in its category, and how much of its growth was money arriving rather than the portfolio compounding. A very large fund cannot buy what a small one can; size should buy a lower fee in return.

77th percentile by AUM

largestsmallest

23th percentile · bottom quartile of 160 funds

median holding weight, trendflatexpense ratio, Regular / Direct0.28% / 0.00% · category median 0.16%AUM, Aug 2023 → Aug 2026₹359 Cr → ₹910 Cr (+36% a year)of that change, from flows rather than returns57% net inflows · NAV +67% over the window

Assets under management, ₹ crore, Mar 2011 – Aug 2026

110 points · months without a factsheet figure use AMFI's quarterly average · Regular-plan expense ratio 0.20% in Jun 2018 → 0.28% in Sep 2026

How it is measured, and the case against

Past a certain size the smaller end of a mandate becomes unreachable, and the fund starts to look like its index; what size should buy in return is a lower expense ratio.

Has the fund outgrown the universe it invests in — and did size buy a lower fee?

Why this might matterSize narrows what the manager can meaningfully hold and should lower what the investor pays. Read the AUM history beside the expense ratio: a fund that has tripled through inflows while its Regular-plan TER sits above the category median has kept the benefit of scale for the house. The flow decomposition says how much of the growth was money arriving rather than the portfolio compounding.

Why it might notScale funds research teams, and plenty of large funds have gone on compounding for decades. Inflows follow performance, so a fund growing fast is usually one that did well; the constraint is real but not automatically binding, and a TER is a ceiling the AMC can cut at any time.

P7 Whose record is this

Run by Swapnil Mayekar for at least 5.9 yrs

with Dishant Mehta, Rakesh Shetty · the factsheet archive starts Oct 2020, so this is a floor

What this means. How long the people running it now have been running it, read from the monthly factsheets. A five-year record earned under someone else is not evidence about these managers.

Why this matters: Whose record is the three-year number? 5 min

No category distribution for this measure yet.

running it nowSwapnil Mayekar (since at least Oct 2020), Dishant Mehta (since Oct 2024), Rakesh Shetty (since Dec 2024)share of the fund's life under the current teamnot knowable — the archive starts Oct 2020, so the tenure is a floorchanges of hands in the archive2 — last Dec 2024

Who ran it, month by month · factsheets through Sep 2026

running it nowearlier

Manager	Role	From	To	Fund vs category, those months	3-yr stretches won in tenure
Swapnil Mayekar	fund manager	by Oct 2020†	now	25.9% vs 16.3% p.a. (+9.58% points)	100% of 35
Dishant Mehta	assistant manager	Oct 2024*	now	4.0% vs −0.4% p.a. (+4.36% points)	—
Rakesh Shetty	debt portion	Dec 2024*	now	8.3% vs 2.9% p.a. (+5.38% points)	—

* dated by first appearance in the archive we hold, not by a date the factsheet printed. † already named on the first factsheet we hold: the stint is at least this long, and its start is not known. Co-managed months count for every manager named; a factsheet names the manager of record, not who made each call. All managers →

How it is measured, and the case against

A record earned under different people is not evidence about these ones.

Does the displayed record predate the people running it?

Why this might matterA five-year figure on a fund whose longest-serving manager joined two years ago is the house's record more than the person's. The tenure here comes from what each monthly factsheet named, so a change of hands is dated to the month it was disclosed, and the fund's return against its category can be read over exactly those months.

Why it might notFund houses have processes, research desks and mandates that outlast individuals, so a manager change is not a reset. Co-managed funds attribute the same months to every named manager, and a factsheet names the manager of record, not necessarily the person making the calls. And the archive we hold starts in Oct 2020: Swapnil Mayekar was already named on its first sheet, so the tenure here is the floor of what is known, not the month anyone arrived — the record may well belong to the people running it now.

Tracking gap

the NAV the fund published, against the NAV its last disclosed portfolio would have produced at each day's prices

No signal. Replication needs a fully disclosed domestic-equity portfolio and daily prices for every line; this fund has not been replicated in this build.

Share classes

latest NAV per AMFI code

Plan	Option	NAV	Date
regular Motilal Oswal Nifty Midcap 100 ETF	—	₹66.97	21 Sep 2026

The Direct / Regular gap, in money

This fund does not have both a Direct and a Regular growth class in the data, so the gap cannot be measured.

A Regular plan buys advice. The fee is visible and the behavioural saving is not; both are shown, neither is netted off.

Compare with

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