Zerodha Mutual Fund

Zerodha Mutual Fund is relatively new in asset management, but its sponsor, Zerodha Broking Limited, has operated in India’s financial markets since 2010. The mutual fund business is managed separately by Zerodha Asset Management Private Limited.

The fund house is best known for its focus on passive investing. Instead of having fund managers regularly select stocks they believe will outperform the market, many Zerodha schemes follow a particular index or a predefined investment strategy.

Take Zerodha Nifty LargeMidcap 250 Index Fund, for example. It tracks an index covering large cap and mid cap companies. The aim is to follow the index’s performance as closely as possible, rather than trying to outperform it through individual stock selection.

This approach can make the investment strategy easier to understand. You know which index the fund follows and can examine the companies or securities it includes. However, passive investing does not mean the investment is risk-free. If the underlying index falls, the fund’s value can fall too.

Zerodha has also introduced schemes that go beyond conventional equity index investing. Zerodha Multi Asset Passive FoF provides exposure to different asset classes through underlying funds, while its Life Cycle Funds follow strategies linked to specific target years.

The AMC is led by CEO Vishal Jain, who has more than 25 years of experience in financial services, particularly in ETFs and passive investments. CIO Kedarnath Mirajkar has around 19 years of experience in financial markets, including managing passive investment products at Aditya Birla Sun Life AMC. Shyam Agarwal is also part of the fund management team.

Zerodha’s schemes cover equity indices, debt indices, commodities and products that combine multiple investment exposures. The table below groups the 23 schemes as of 7 October 2026.

Among its equity offerings, Zerodha Nifty 50 Index Fund follows the Nifty 50, which represents 50 large Indian companies. Zerodha Nifty MidSmallcap 400 50:50 Index Fund tracks an index designed to provide a 50:50 allocation between mid cap and small cap segments.

Although both are index funds, they carry different risks. Mid cap and small cap stocks can experience sharper price movements than established large companies.

For investors interested in commodities, Zerodha offers Gold and Silver ETFs, along with corresponding fund-of-funds options. The ETFs seek to track the prices of the underlying commodities, while the FoFs invest through ETF units.

The AMC also offers government-securities-based products and an Overnight Fund. These serve different purposes from equity investments and carry their own risks.

Zerodha Mutual Fund is registered with SEBI under registration number MF/080/23/06. Like other SEBI-registered mutual funds, it operates within a regulatory framework covering fund management, disclosures and investor protection.

Zerodha Asset Management Private Limited manages the schemes, while Zerodha Trustee Private Limited oversees the mutual fund’s operations. CAMS handles registrar and transfer-agent services, and the fund house lists Citibank, Axis Bank Limited and HDFC Bank as custodians.

These arrangements establish responsibilities for managing and safeguarding scheme assets. However, they do not protect investors from market losses. The risk depends on the scheme.

Before investing, read the scheme’s Riskometer, investment objective, and latest documents. SEBI registration means the fund house is regulated; it does not guarantee that your investment will grow or that your original capital will remain intact.

Zerodha Mutual Fund started offering schemes in 2023. As of 8 October 2026, its schemes have not yet completed three years of operations.

This makes long-term performance comparisons difficult. You can examine returns since launch, but you cannot calculate a true three-year or five-year scheme return without a complete investment history covering those periods.

Scheme returns are marked N.A. because the funds have not completed the respective periods. Category averages are marked N.A. because comparable, consistently dated category-return figures were not independently verified.

For now, investors can look at shorter-period performance, the underlying index’s returns, tracking error, tracking difference, and expense ratios.

There is an important distinction here. An index such as the Nifty 50 may have decades of historical data, but that does not mean the Zerodha Nifty 50 Index Fund has operated for the same period. Index history and actual fund performance are not interchangeable.

You must note that past performance may or may not continue in the future. Therefore, use it as one part of your research rather than a guarantee of future returns.

The best Zerodha mutual fund for you depends on what you want your investment to do. Since many of its schemes follow indices, understanding the underlying index matters.

• Financial goals: Start with why you’re investing. Are you building long-term savings, planning for a future expense or looking for a tax-saving option? Your goal can help you narrow down the available schemes.
• Investment horizon: Think about when you might need the money. Equity funds generally suit investors who can stay invested through market fluctuations. Shorter-term needs require a different risk and liquidity assessment.
• Risk appetite: Don’t assume an index fund is automatically low-risk. A small cap ETF, a broad-market equity fund and a gold ETF can behave very differently. Check each scheme’s Riskometer before deciding.
• Scheme category: Choose the kind of exposure you want. For instance, a Nifty 50 index fund focuses on large companies, while a mid-small cap index fund gives you exposure to smaller businesses. Neither is automatically the better choice.

Once you’ve identified a suitable category, compare expense ratios and tracking performance.

If you’re considering an ETF, look at trading volumes and bid-ask spreads as well. An ETF’s exchange price can differ from its net asset value (NAV), which is the per-unit value of the fund’s net assets.

Also, check what you already own. Investing in multiple index funds doesn’t necessarily mean you’re well diversified.

If you’ve found a Zerodha mutual fund that fits your requirements, you can invest through Millions, as long as the scheme is available on the platform.

Here’s how to get started:

1. Download the Millions app from the Google Play Store or the iOS App Store. Create an account and complete your KYC.
2. Open the MF section on the dashboard.
3. Search for ‘Zerodha Mutual Fund’.
4. Browse the available schemes and select the one you want to explore.
5. Check its investment objective, historical performance, expense ratio, portfolio holdings and Riskometer.
6. Choose between the available SIP and one-time investment options.
7. Enter your investment amount, review the transaction details and complete the payment.

You can start with relatively small amounts in some schemes. Zerodha Nifty LargeMidcap 250 Index Fund has a published minimum investment of Rs. 100, while Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund starts at Rs. 500.

Minimum investment amounts vary by scheme, and SIP requirements may differ by investment option. Check the latest scheme information before proceeding.

If you’re considering an ETF, remember that it is generally bought and sold on a stock exchange. This usually requires a demat and trading account, unlike a regular mutual fund purchase.

You can also use the SIP calculator in the Tools section on Millions.

Suppose you’re thinking of investing Rs. 5,000 every month for 15 years. Enter the amount, investment period, and an assumed annual return to estimate how much the investment might grow.

The calculator provides a projection, not a guaranteed outcome. Actual returns depend on market conditions and may be higher or lower.

Before investing, make sure you understand what the scheme tracks, the risks involved, and whether the investment amount works for your budget.