Zerodha Nifty 50 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 17, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Zerodha Nifty 50 Index Fund Direct Growth Plan has a NAV of ₹9.2957 as of 16 Sep 2026 and an AUM of ₹71 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0% and 0%, respectively, and the scheme is tagged High Risk. In our view, this is a plain index option for investors who want Nifty 50 exposure with a low-cost direct plan, but the short track record means there is not yet a long performance history to lean on.
The fund follows the Nifty 50 benchmark and holds a broad large-cap basket. That makes it more suitable for investors who are comfortable with market-linked swings and want a core equity allocation rather than an active style that tries to outperform through stock selection.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹9.2957 as of 16 Sep 2026 |
| AUM | ₹71 Cr |
| Expense Ratio | 0.1% |
| Launch Date | 14 Oct 2025 |
| Min SIP | ₹100 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Index Funds |
| Exit Load | No exit load |
| Fund Managers | Kedarnath Mirajkar |
The fund is managed by Kedarnath Mirajkar.
Source data date: as of 16 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -4.39% | -4.41% |
| 3M | -3.07% | -3.6% |
| 1Y | Data not available | Data not available |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
Over the most recent month, the fund was almost flat versus the benchmark, with only a small difference in the negative move. That suggests it has tracked the index closely in the short run, which is what we would expect from a passive Nifty 50 strategy.
The three-month stretch shows a similarly tight relationship to the benchmark. The fund has not tried to cushion the drawdown, but it also has not drifted far from index behaviour, so the recent pattern is consistent with a tracking-style approach rather than an outcome driven by active calls.
The longer picture is limited by the fund’s recent launch date, so we do not yet have meaningful 1-year, 3-year or 5-year performance history to judge compounding across a full cycle. For now, the main read-through is that the fund has behaved like a benchmark tracker over the available recent periods, with no evidence of a meaningful style difference from Nifty 50 itself.
Because the fund is new, investors should focus more on whether they want the Nifty 50 exposure and cost structure than on a long return record. Our view is that the available data supports the idea of close benchmark replication so far, but not a deeper long-term performance verdict.
Source data date: as of 16 Sep 2026
Should you BUY or HOLD Zerodha Nifty 50 Index?
A fund’s past returns alone don’t tell you whether you should buy it today or continue holding it.
The right decision depends on factors such as your current allocation, purchase price, risk profile, investment horizon and the role this fund plays in your overall portfolio.
Already holding Zerodha Nifty 50 Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Zerodha Nifty 50 Index Fund Direct Growth Plan | Data not available | Data not available | Data not available |
| ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan | 29.31% | 30.01% | Data not available |
| Tata Nifty Capital Markets Index Fund Direct Growth Plan | 21.45% | Data not available | Data not available |
| Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan | 21.13% | Data not available | Data not available |
| Motilal Oswal Nifty MidSmall Financial Services Index Fund Direct Growth Plan | 20.68% | Data not available | Data not available |
| ICICI Pru Nifty Pharma Index Fund Direct Growth Plan | 17.57% | 18.84% | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
On the available return figures, the current fund trails the peer set that has a 1-year number available, but the comparison is not apples-to-apples because those peers track very different themes. The key takeaway is that this fund’s short record does not yet provide a long-window comparison, while several peers do show longer history in select periods.
That makes the short-term peer comparison more useful for context than for judgement. The fund’s recent movement has stayed close to the benchmark, but the peer table shows that other index strategies have delivered stronger recent returns in their own segments. For an investor, the real question is whether Nifty 50 tracking is the intended exposure, not whether this fund is meant to beat theme-specific peers.
Source data date: as of 16 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| HDFC Bank Limited | Bank | 9.88% |
| ICICI Bank Limited | Bank | 9.47% |
| Reliance Industries Limited | Crude Oil | 7.85% |
| Bharti Airtel Limited | Telecom | 5.01% |
| Larsen & Toubro Limited | Infrastructure | 4.31% |
| State Bank of India | Bank | 3.99% |
| Infosys Limited | IT | 3.62% |
| Axis Bank Limited | Bank | 3.4% |
| Kotak Mahindra Bank Limited | Bank | 2.81% |
| Mahindra & Mahindra Limited | Automobile & Ancillaries | 2.67% |
The top 10 holdings account for approximately 53.01% of the portfolio. To see all holdings, visit the Zerodha Nifty 50 Index Fund Direct Growth Plan page
The largest position, HDFC Bank Limited, carries a weight of 9.88%, so it may have a noticeable influence on day-to-day movement. The drop from the first holding to the tenth is still meaningful, but not extreme, which suggests the portfolio is not built around one or two outsized bets alone.
At the same time, the listed holdings show a fairly broad spread across banking, telecom, infrastructure, IT and consumer-linked names. With 49 holdings in all and just over half of the disclosed weight in the top 10, the portfolio may be best read as concentrated in a core group of large-cap names while still carrying a longer tail underneath.
For investors, that shape is consistent with a Nifty 50 index fund: the biggest weights matter, but the overall structure still reflects broad large-cap market exposure rather than a narrow thematic bet.
Source data date: as of 16 Sep 2026
Who should invest
This fund fits investors who can handle High Risk equity swings and want a simple Nifty 50 exposure inside a direct growth plan. The available returns show close tracking to the benchmark in recent periods, but the fund’s short history means the long-term record is still developing.
It is better suited to a medium- to long-term horizon, where temporary drawdowns can be absorbed and benchmark-style compounding has time to play out. The main trade-off is that a low-cost index structure gives you market exposure and diversification, but not the chance of active outperformance.
Tax and exit load
| Holding period | Tax rate | Description |
|---|---|---|
| Units held less than 1 year | 20% | Short-term capital gains tax |
| Units held more than 1 year | 12.5% | Long-term capital gains tax |
Exit load: No exit load.
Source data date: as of 16 Sep 2026
Frequently asked questions
What is the current NAV of Zerodha Nifty 50 Index Fund Direct Growth Plan?
The NAV is ₹9.2957 as of 16 Sep 2026.
What are the fund’s recent returns?
Its 1-year, 3-year and 5-year returns are not available in a meaningful trailing sense because the fund is newly launched. The recent 1M and 3M returns are -4.39% and -3.07%.
How has the fund behaved versus the benchmark?
It has tracked the Nifty 50 closely in the available short periods. The 1M and 3M gaps versus the benchmark are small, which points to benchmark-like movement.
How does it compare with peer funds on recent returns?
Several peer funds show stronger 1-year returns in their own categories, but they track different themes. This fund’s main comparison point is whether you want Nifty 50 exposure rather than theme-specific returns.
What is the minimum SIP amount?
There is no minimum SIP amount listed here that we can verify from the available fund facts, so we are not stating one.
Who manages the fund and what is the exit load?
Kedarnath Mirajkar manages the fund. The exit load is nil.
Bottom line
Zerodha Nifty 50 Index Fund Direct Growth Plan is a straightforward Nifty 50 index option with a low expense ratio and a large-cap portfolio anchored by banking and other market leaders. Its recent movement has stayed close to the benchmark, but the fund is still too young to judge on a full-cycle return record. Compared with peers, it does not stand out on available return figures, yet that is less important than whether an investor wants simple market exposure, High Risk equity volatility, and a broad large-cap core.
Published on 17 September 2026 at 11:31 AM IST
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RIA disclosure
Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. This review is prepared by Uniapps Investment Adviser Pvt. Ltd. (earlier known as Uniapps Global Research Pvt. Ltd.) under SEBI Registered Investment Adviser registration INA000017639 for general informational purposes and is not personalized investment advice.