Modular switched reluctance motors (MSRMs) normally have better characteristics than conventional SRMs (CSRMs) such as lower cost, higher torque production, stronger fault-tolerance, less loss, etc. This paper comprehensively investigates two hybrid-flux MSRMs with the same E-core stator, but different rotor configurations, termed as segmented-rotor MSRM (SR-MSRM) and nonsegmented rotor MSRM (NSR-MSRM), as well as compares with a CSRM. To evaluate the effects of different rotor topologies, the electromagnetic performances of two MSRMs and a CSRM with the same basic dimensions, including machine cost, flux distribution, static flux linkage, and torque, dynamic and transient operation performances are comprehensively analyzed and compared. The results based on finite-element analysis and Simulink indicate that the SR-MSRM has lowest steel consumption, highest torque production, highest power and torque densities, and strongest starting capability. Finally, three motor prototypes, including one SR-MSRM, one NSR-MSRM, and one CSRM are manufactured. The experimental results of static magnetic characteristics, dynamic and transient performances of three SRM drives confirm the predictions.