# Motilal Oswal S&P 500 Index Fund NAV and Performance Review

**Published:** 2026-09-16T13:39:33.419Z  
**Topic:** S P 500  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/e26bddc5-a009-4f2f-8254-06333a4dcd54

The Motilal Oswal S&P 500 Index Fund reports a NAV of ₹33.60 as of September 15, 2026. Review the fund's AUM, expense ratio, and historical returns.

The Motilal Oswal S&P 500 Index Fund reached a Net Asset Value (NAV) of ₹33.60 as of September 15, 2026, reflecting the performance of its underlying U.S. equity holdings [5, 8]. The fund, which carries a "Very High" risk rating, provides investors with exposure to the U.S. market, with assets under management (AUM) totaling approximately ₹4,593.76 crore as of August 31, 2026 [5, 8].

| At a glance | |
|---|---|
| NAV (Sep 15, 2026) | ₹33.60 |
| AUM (Aug 31, 2026) | ₹4,593.76 Cr |
| 1-Year Return | 25.07% |
| Expense Ratio | 0.52% |

## Portfolio composition and performance
The fund primarily tracks the S&P 500 Index, with 99.38% of its assets allocated to equity [8]. Its top holdings are concentrated in major U.S. technology and consumer-facing firms, including Nvidia (8.04%), Apple (7.00%), and Microsoft (5.67%) [8]. Sectorally, the fund maintains significant exposure to technology hardware at 16.87%, followed by "others" at 14.25% and IT services at 13.00% [8].

Since its inception on April 28, 2020, the fund has delivered average annual returns of 21.18% [5, 8]. Recent performance data shows a 1-year return of 25.07% and a 3-year return of 25.58% [8]. The fund operates with an expense ratio of 0.52%, which represents the annual cost of management and is deducted from the fund's assets before the daily NAV is declared [5, 8].

## Risk and volatility metrics
The fund’s risk profile is characterized by a standard deviation of 13.63, a metric used to measure the volatility of returns [8]. A higher standard deviation generally indicates that a fund's returns are more spread out from the average, suggesting higher volatility [8]. To assess risk-adjusted performance, the fund reports a Sharpe ratio of 1.49, which evaluates returns relative to the risk taken, and an alpha ratio of 8.08, indicating the fund's excess return compared to its expected benchmark performance [8].

## What to watch
* **Tracking Error:** As an index fund, the scheme’s primary objective is to mirror the S&P 500 Index; investors should monitor the tracking error, as there is no guarantee the fund will perfectly replicate the index's performance [5].
* **Expense Ratio Adjustments:** While the current expense ratio is 0.52%, this figure is subject to change and directly impacts the net returns realized by investors [5, 8].
* **Market Volatility:** Given the "Very High" risk classification and the fund's heavy concentration in U.S. technology equities, shifts in U.S. market sentiment or currency fluctuations may significantly impact the NAV [5, 8].

The fund remains a vehicle for direct exposure to U.S. large-cap equities, though its performance remains tethered to the volatility of the underlying S&P 500 constituents. Whether the fund can maintain its current alpha remains an open question as global market conditions evolve.

## Sources
1. The Financial Express — [Motilal Oswal Nifty 50 Index Fund - Direct Plan - Growth](https://www.financialexpress.com/mutual-funds/motilal-oswal-nifty-50-index-fund-direct-plan-growth-INF247L01AE7/)
2. Moneycontrol — [Motilal Oswal Nifty Bank Index Fund Regular Growth](https://www.moneycontrol.com/mutual-funds/nav/motilal-oswal-nifty-bank-index-fund-regular-plan/MMO062)
3. moneycontrol.com — [Motilal Oswal Nifty Bank Index Fund Direct Growth](https://www.moneycontrol.com/mutual-funds/nav/motilal-oswal-nifty-bank-index-fund-direct-plan/MMO066)
4. Moneycontrol — [Motilal Oswal Nifty 50 Index Fund Regular Growth](https://www.moneycontrol.com/mutual-funds/nav/motilal-oswal-nifty-50-index-fund-regular-plan/MMO073)
5. Etmoney — [Motilal Oswal S&P 500 Index Fund Direct-Growth: NAV, Overview, Portfolio, Performance](https://www.etmoney.com/mutual-funds/motilal-oswal-sandp-500-index-fund-direct-growth/41468)
6. Groww — [Motilal Oswal S&P 500 Index Fund Direct Growth - NAV, Mutual Fund Performance & Portfolio](https://groww.in/mutual-funds/motilal-oswal-s-p-500-index-fund-direct-growth)
7. Paytmmoney — [Motilal Oswal S&P 500 Index Fund Direct - Growth - Latest NAV, Returns, Performance 2026](https://www.paytmmoney.com/mutual-funds/scheme/motilal-oswal-sp-500-index-fund-direct-g/inf247l01ag2)
8. Tickertape — [Motilal Oswal S&P 500 Index Fund: NAV, Performance, Returns](https://www.tickertape.in/mutualfunds/motilal-oswal-sp-500-index-fund-M_MOTA)

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Cite as: TrendWatcher, "Motilal Oswal S&P 500 Index Fund NAV and Performance Review", https://www.trendwatcher.in/article/e26bddc5-a009-4f2f-8254-06333a4dcd54