Zerodha Life Cycle Fund 2036 Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Zerodha Life Cycle Fund 2036 Direct Growth Plan has a NAV of ₹9.799 as of 16 Sep 2026 and manages ₹19 Cr. Its 1-year, 3-year and 5-year returns are Data not available, Data not available and Data not available, and the fund sits in the High Risk category.

Our view is that this is a younger, high-risk equity option whose current positioning matters more than a long performance record. The portfolio mixes sovereign debt, gold and silver ETFs, banks and a few large companies, so the return pattern and asset mix suggest a fund designed for long-horizon investors who can absorb sharp swings rather than those looking for near-term stability.

Quick facts

Particular	Details
NAV	₹9.799 as of 16 Sep 2026
AUM	₹19 Cr
Expense Ratio	0.0%
Launch Date	10 Jul 2026
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	3% upto 1Y, 2% after 1Y but upto 2Y, 1% after 2Y but upto 3Y, NIL after 3Y
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	-3.32%	-4.41%
3M	Data not available	Data not available
1Y	Data not available	Data not available
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The only visible near-term performance reading is the 1-month figure, and it shows the fund slipping, but still doing slightly better than the benchmark over the same stretch. That tells us the fund has not been immune to recent weakness, yet it has held up a little better than the Nifty 50 in the latest month.

Beyond that, there is no long performance history to judge yet because the scheme launched on 10 Jul 2026. So we would treat the current record as a starting point rather than a proven cycle through different market conditions. For an investor, that means the key question is not whether the fund has already shown a stable long-term pattern, but whether the mix of assets and the high-risk label fit a patient holding period.

Against the benchmark, the short-term comparison is modestly better, but it is not strong enough to build a long-term thesis on its own. The fact that the fund is only weeks old also means any early movement can be driven by market noise, asset mix and launch-stage positioning rather than a mature compounding profile.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD Zerodha Life Cycle Fund 2036?

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 Life Cycle Fund 2036? Thinking of investing now?

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Peer comparison

Fund	1Y return	3Y return	5Y return
Zerodha Life Cycle Fund 2036 Direct Growth Plan	Data not available	Data not available	Data not available
Zerodha Life Cycle Fund 2041 Direct Growth Plan	Data not available	Data not available	Data not available

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.

There is no usable long-return separation between the two available scheme variants at this stage because both show no disclosed 1-year, 3-year or 5-year return figures. That means the comparison is mainly about scheme structure and timing, not about proven return leadership.

For the current fund, the more relevant takeaway is that the short-term benchmark behaviour is slightly better than the index, while the peer set does not yet offer a meaningful longer-term record. So the present picture is balanced: the fund has not trailed badly in the latest month, but it also has not built an evidence base that would support stronger claims about sustained compounding.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
6.94% GOI 11-May-2036	Government Securities	21.67%
Zerodha Gold ETF	Domestic Mutual Funds Units – Gold	4.53%
Zerodha Silver ETF	Domestic Mutual Funds Units – Silver	4.53%
Clearing Corporation of India Limited	Cash & Cash Equivalents and Net Assets	3.83%
Axis Bank Limited	Bank	2.95%
HDFC Bank Limited	Bank	2.58%
ICICI Bank Limited	Bank	2.48%
Reliance Industries Limited	Crude Oil	2.05%
Bharti Airtel Limited	Telecom	1.29%
Larsen & Toubro Limited	Infrastructure	1.11%

The top 10 holdings account for approximately 47.02% of the portfolio.

To see all holdings, visit the Zerodha Life Cycle Fund 2036 Direct Growth Plan page

The largest holding, 6.94% GOI 11-May-2036, is 21.67% of the portfolio, so it is likely to have a meaningful influence on the fund’s behaviour. That single position is much larger than the next holdings, which are all below 5%, so the visible allocation steps down quickly after the sovereign bond exposure.

The gap from the largest holding to the tenth is wide: the tenth holding is 1.11%, which is a fraction of the biggest position. We also see a mix of government securities, gold and silver ETFs, bank stocks and other large companies, which suggests the fund is not relying on one narrow equity theme alone.

At 47.02% across the displayed top 10 holdings, the visible sleeve is moderately concentrated, while 26 disclosed holdings indicate a longer tail beyond the largest names. That combination may create a portfolio where a few positions matter a lot, but the rest of the book can still influence overall movement in a smaller way.

Source data date: as of 16 Sep 2026

Who should invest

This fund suits investors who can tolerate High Risk and are comfortable with a new scheme that has only a very short performance record. The visible mix of sovereign debt, precious-metals ETFs and large-cap stocks suggests it may behave differently from a plain equity fund, which can appeal to investors seeking a diversified lifecycle-style structure.

The key trade-off is that the fund does not yet have a long history to show how it behaves through a full market cycle. Investors with a multi-year horizon and patience for volatility may find that acceptable, but those who want evidence of stable longer-term compounding may prefer to wait and watch.

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: 3% up to 1Y, 2% after 1Y but up to 2Y, 1% after 2Y but up to 3Y, NIL after 3Y.

Source data date: as of 16 Sep 2026

Frequently asked questions

What is the current NAV of Zerodha Life Cycle Fund 2036 Direct Growth Plan?
The current NAV is ₹9.799 as of 16 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year, 3-year and 5-year returns are Data not available, Data not available and Data not available.

How has the fund done versus the benchmark recently?
In the 1-month period, the fund returned -3.32% versus -4.41% for Nifty 50. That means it held up slightly better than the benchmark over the latest month.

How does it compare with the listed peer fund?
Both available scheme variants show Data not available for 1-year, 3-year and 5-year returns, so there is no meaningful long-return separation yet.

What is the minimum SIP amount?
The minimum SIP amount is ₹100.

Who manages the fund and what is the exit load?
The fund is managed by Kedarnath Mirajkar. Exit load is 3% up to 1Y, 2% after 1Y but up to 2Y, 1% after 2Y but up to 3Y, and NIL after 3Y.

Bottom line

Zerodha Life Cycle Fund 2036 Direct Growth Plan is still too young for a full long-term verdict, so the latest month matters more than a longer record right now. It has held up slightly better than the benchmark over that short stretch, while the peer set also lacks usable return history. The High Risk label, the bond-plus-precious-metals mix and the concentrated top holding make it a fund for patient investors who can accept early-stage uncertainty and want a lifecycle-style allocation.

Published on 17 September 2026 at 5:09 PM 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.