Zerodha Nifty LargeMidcap250 Plus 8-13 yr G-Sec 70:30 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Zerodha Nifty LargeMidcap250 Plus 8-13 yr G-Sec 70:30 Index Fund Direct Growth Plan had a NAV of ₹9.9786 as of 16 Sep 2026 and an AUM of ₹13 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0% and 0%, respectively, and it sits in the High Risk bucket.

Our view is that this is a very new index fund with a mixed equity-and-gilt design, so the investor case depends more on the intended allocation pattern than on a return track record. The current portfolio leans heavily on government securities at the top, while the equity side is spread across financials, energy, telecom, infrastructure and technology.

Quick facts

Particular	Details
NAV	₹9.9786 as of 16 Sep 2026
AUM	₹13 Cr
Expense Ratio	0.0%
Launch Date	20 Apr 2026
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	-3.55%	-4.41%
3M	-1.55%	-3.6%
1Y	Data not available	Data not available
3Y	Data not available	Data not available
5Y	Data not available	Data not available

Short-term performance has been softer in absolute terms, but it has still held up better than the benchmark over both the 1-month and 3-month windows. The fund’s 1-month decline of 3.55% is less severe than the benchmark’s 4.41% fall, and the 3-month figure shows the same pattern, with the fund down 1.55% versus 3.6% for the benchmark.

That relative edge matters, but it should be read alongside the fund’s short history. Launched in April 2026, it does not yet have a meaningful 1-year, 3-year or 5-year record to judge compounding through a full cycle. For now, our interpretation is that the fund has shown some resilience in the recent period rather than a settled long-run pattern.

The recent path in the series also suggests uneven movement rather than a smooth climb. There were stretches of flat to slightly firmer behaviour, followed by a softer finish, which is consistent with a new product still finding its market rhythm. That is not unusual for a newly launched strategy, but it does mean investors are looking at a live process rather than a long-tested history.

For a fund with an index structure, the key question is not just the latest move versus the benchmark, but whether that relative pattern persists as the portfolio matures. At this stage, the only clear conclusion is that the short-term picture is better than the benchmark, while the longer-term picture is not yet established.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD Zerodha Nifty LargeMidcap250 Plus 8-13 yr G-Sec 70:30 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.

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Peer comparison

Fund	1Y return	3Y return	5Y return
Zerodha Nifty LargeMidcap250 Plus 8-13 yr G-Sec 70:30 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 peer figures, the fund does not yet have a reported 1-year number to set against the group, while several peers show double-digit gains over the same horizon. That makes the current comparison incomplete on recent return data, but it also reflects the fund’s short life rather than a weak long-term record.

Where the comparison becomes more informative is in the length of the track record. Only two peers have a 3-year figure, and one of them, ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan, shows 30.01% over 3 years. The current fund has no comparable 3-year or 5-year history yet, so the longer-horizon peer view is simply not available for a like-for-like judgment.

As a result, the peer table tells two different stories: peers with established histories have meaningful return records, while this fund is still too new for that same comparison. For investors, the practical takeaway is that the fund is better assessed on its structure, benchmark behaviour and portfolio mix than on a missing multiyear record.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
6.94% GOI 11-May-2036	Government Securities	29.09%
HDFC Bank Limited	Bank	2.79%
ICICI Bank Limited	Bank	2.67%
Reliance Industries Limited	Crude Oil	2.21%
Bharti Airtel Limited	Telecom	1.41%
Larsen & Toubro Limited	Infrastructure	1.22%
BSE Ltd	Finance	1.13%
State Bank of India	Bank	1.12%
Infosys Limited	IT	1.02%
Axis Bank Limited	Bank	0.96%

The top 10 holdings account for approximately 43.62% of the portfolio.

To see all holdings, visit the Zerodha Nifty LargeMidcap250 Plus 8-13 yr G-Sec 70:30 Index Fund Direct Growth Plan page

The largest holding is the 6.94% GOI 11-May-2036 position at 29.09%, which is very large relative to the rest of the disclosed book. After that, the weights fall sharply into a cluster of much smaller equity positions, with the next names mostly sitting between 2.79% and 0.96%.

That drop from nearly 29% to under 3% at the second holding suggests the portfolio may be meaningfully influenced by the government-security position at the top. The gap from the largest holding to the tenth is also wide, which means the displayed book is not evenly spread across the leading names.

At the same time, the top 10 holdings together account for 43.62% across 31 disclosed holdings, so the portfolio is not built entirely around a narrow set of positions. Our reading is that the visible allocation is concentrated at the top, but it still leaves a long tail of smaller holdings that may help diversify individual stock-specific swings.

Source data date: as of 16 Sep 2026

Who should invest

This fund suits investors who are comfortable with High Risk exposure and can tolerate a new scheme that does not yet have a full return history. Its short-term behaviour has been better than the benchmark, but the absence of 1-year, 3-year and 5-year fund-track data means the longer horizon case is still developing.

We think the fit is closer to someone with a medium- to long-term view who wants an index-based allocation with a visible government-security anchor at the top and equity exposure spread across major sectors. The main trade-off is accepting that the fund is still young, so the current evidence is about structure and early relative behaviour rather than a proven cycle-by-cycle record.

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 LargeMidcap250 Plus 8-13 yr G-Sec 70:30 Index Fund Direct Growth Plan?
The NAV is ₹9.9786 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 not available yet because it was launched on 20 Apr 2026.

How has it done versus the benchmark recently?
It has held up better than the benchmark over the recent 1-month and 3-month periods. The fund is down 3.55% over 1 month and 1.55% over 3 months, while the benchmark is down 4.41% and 3.6% over the same periods.

How does it compare with peer funds on available return data?
Peers with longer histories show published 1-year and, in some cases, 3-year return figures, while this fund does not yet have those multiyear numbers. That makes the comparison useful for context, but not for a direct long-horizon match.

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

What is the fund’s risk profile and exit load?
The fund is in the High Risk category. It has no exit load, and the fund managers listed are Kedarnath Mirajkar.

Our view is that this fund is best understood as a new index strategy with a strong top holding, a meaningful government-securities anchor and early short-term performance that has been somewhat better than the benchmark. It has no multiyear return record yet, so the case rests more on structure and portfolio mix than on history. For investors who can handle High Risk exposure and prefer to wait for a longer record to form, it offers a distinct but still early-stage profile.

Published on 17 September 2026 at 4:27 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.