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![ExtraClassIndia Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1767955987137486849.png) Extra Class 🇮🇳 [@ExtraClassIndia](/creator/twitter/ExtraClassIndia) on x 1523 followers
Created: 2025-07-16 02:35:04 UTC

While the #Nasdaq100 📈 has already made a fresh all-time high (+3% above previous peak), the Motilal Oswal Nasdaq XXX ETF (MON100) 📉 is still trading ~13% below its own ATH.

I’d be grateful if  anyone could help clarify:

1️⃣ INR/USD 💱 currency impact or hedging factors?
2️⃣ Tracking error 📊 or liquidity-related reasons?
3️⃣ Any cash holdings 💼 or dividend drag 💸 at play?

Trying to understand this divergence better. Thanks in advance! 🙏

Hi @MotilalOswalAMC 👋 & the esteemed team of @Raamdeo sir 🙏
@TheVivekSinghal

![](https://pbs.twimg.com/media/Gv8fhyfXUAAH8u6.jpg)

XXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1945311192123392020/c:line.svg)

**Related Topics**
[hedging](/topic/hedging)
[currency](/topic/currency)
[fund manager](/topic/fund-manager)
[nasdaq](/topic/nasdaq)
[alltime](/topic/alltime)

[Post Link](https://x.com/ExtraClassIndia/status/1945311192123392020)