Zerodha Life Cycle Fund 2041 Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Zerodha Life Cycle Fund 2041 Direct Growth Plan is priced at ₹9.753 as of 16 Sep 2026, and the scheme has an AUM of ₹18 Cr. Its 1-year, 3-year and 5-year returns are Data not available, Data not available and Data not available, and it sits in the High Risk bucket. In our view, this is a young life-cycle equity fund that is still building its track record, so the present case rests more on its portfolio shape and risk profile than on long history.

The fund has been launched recently, so the available evidence is limited. The early return pattern and the 100 risk score suggest meaningful equity-market sensitivity, while the holdings mix shows a blend of government securities, precious-metals ETFs and large-cap financials that may make the journey uneven in the near term.

Quick facts

Particular	Details
NAV	₹9.753 as of 16 Sep 2026
AUM	₹18 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	-3.88%	-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 one-month picture is still weak in absolute terms, but the fund has done slightly better than NIFTY 50 over the same stretch. That matters because the benchmark itself was also negative, so the fund’s edge here is relative rather than a sign of outright strength.

We would treat the short record carefully. The scheme was launched only in July 2026, which means there is no meaningful multi-year return history yet, and the current month-to-month movement is too short a window to judge how the life-cycle structure behaves across different market conditions.

The time pattern also looks choppy rather than smooth. The fund spent much of the recent month under pressure, with only brief rebounds, which is consistent with a High Risk equity strategy that can stay sensitive when markets soften. Against that backdrop, the current return profile does not yet confirm a durable trend either above or below the benchmark.

For now, our view is that the fund is better read as an early-stage allocation with a relatively high equity feel than as a seasoned return compounder. The longer-run question will only become answerable once the scheme has enough history to show whether the present structure can hold up through fuller market cycles.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD Zerodha Life Cycle Fund 2041?

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 2041? Thinking of investing now?

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Peer comparison

Fund	1Y return	3Y return	5Y return
Zerodha Life Cycle Fund 2041 Direct Growth Plan	Data not available	Data not available	Data not available
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 not yet a meaningful peer edge visible in the longer-dated return columns because the listed life-cycle funds are too new for those figures to be available. The only current comparison point is the latest short-term return, where the fund has been marginally less weak than the benchmark over one month. That is useful, but it is still a narrow base for comparison.

Because the 1-year, 3-year and 5-year figures are not available for the listed peer set, the peer view does not separate the schemes on long-term performance. The more important takeaway is that this fund’s short-term behaviour has been close to the benchmark rather than dramatically different from it.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
6.94% GOI 11-May-2036	Government Securities	12.83%
Zerodha Silver ETF	Domestic Mutual Funds Units – Silver	4.55%
Zerodha Gold ETF	Domestic Mutual Funds Units – Gold	4.54%
HDFC Bank Limited	Bank	3.12%
ICICI Bank Limited	Bank	2.99%
Reliance Industries Limited	Crude Oil	2.47%
Bharti Airtel Limited	Telecom	1.57%
Larsen & Toubro Limited	Infrastructure	1.35%
BSE Ltd	Finance	1.25%
State Bank of India	Bank	1.25%

The largest holding, 6.94% GOI 11-May-2036, is 12.83% of the portfolio and therefore has a noticeable influence on day-to-day movement. The next two positions are silver and gold ETFs at 4.55% and 4.54%, which suggests that the fund is not relying only on equity exposure for its early asset mix.

Weight then falls fairly steadily from the top position to the tenth, dropping from 12.83% to 1.25%. That spread points to a portfolio where the biggest names matter, but no single equity stock dominates the disclosed list. The mix of sovereign debt, precious metals and financials may create a more diversified feel than a pure equity-only basket.

The top 10 holdings account for approximately 35.92% of the portfolio. With 37 disclosed holdings in total, the visible allocation is spread across a fairly long tail, so the portfolio may not be driven by only a handful of names. The listed weights still imply that the top positions could have greater influence than the smaller holdings.

To see all holdings, visit the Zerodha Life Cycle Fund 2041 Direct Growth Plan page

Source data date: as of 16 Sep 2026

Who should invest

This fund suits investors who are comfortable with High Risk exposure and who can stay invested for a long enough period to let the life-cycle structure play out. The very short return history means there is no mature long-term record yet, so the investor needs patience more than certainty.

The main trade-off is that the portfolio may offer diversification across government securities, precious metals and equities, but that mix can still move sharply in weak markets. Compared with the benchmark, the early short-term return has been a little better, yet there is not enough history to extend that conclusion to 3-year or 5-year horizons.

For investors who want an early-stage equity-oriented fund and can accept uncertainty in the near term, the scheme may be worth watching. For those who need a long, proven track record, the available history is too limited to make a strong judgement.

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 2041 Direct Growth Plan?
The current NAV is ₹9.753 as of 16 Sep 2026.

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

How has the fund performed versus NIFTY 50 recently?
Over 1 month, the fund return is -3.88% versus -4.41% for NIFTY 50, so it has been slightly less weak than the benchmark.

How does it compare with the peer funds shown here?
The listed peer funds also have Data not available for the 1-year, 3-year and 5-year figures, so the comparison is limited to the short-term figures currently available.

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

Who manages the fund and what exit load applies?
Kedarnath Mirajkar manages the fund. The 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 2041 Direct Growth Plan is still too new for a meaningful long-term return verdict, so the current picture depends mainly on its early behaviour and portfolio mix. The one-month return has been a little better than NIFTY 50, but the fund remains in High Risk territory and its long-dated return history is not yet built out. The portfolio blends government securities, gold and silver ETFs, and equity holdings, which may make it more nuanced than a plain equity scheme, but investors still need patience and tolerance for short-term swings.

Published on 17 September 2026 at 5:12 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.