List of the Best Groww Mutual Funds in India (2026)

Groww Mutual Fund is the asset management arm of Groww, one of India’s largest retail investment platforms. The AMC, formerly known as Indiabulls Asset Management Company, was established in 2008 and acquired by Groww in May 2023. Since the acquisition, Groww AMC has relaunched and expanded its fund portfolio, growing its AUM to approximately ₹2,000 cr. by June 2025, a sixfold increase from ₹342 cr at the time of acquisition. The fund house offers a range of equity, debt, and index schemes across different investment categories. In this article, we will cover Groww mutual fund schemes and the key factors to consider when evaluating them.

Top Groww Mutual Fund Schemes

Disclaimer: Please note that the above list of the best Groww mutual funds is for educational purposes only, and is not recommendatory. Please do your own research or consult your financial advisor before investing. The data is derived from Tickertape Mutual Fund Screener and is subject to real-time updates.

Note: The data on the list of the best Groww investment funds is from 3rd June 2026. This data is derived from the Tickertape Mutual Funds Screener.

• AMC: Groww Asset Management Limited
• 5Y CAGR: Sorted from Highest to Lowest

🚀 Pro Tip: You can use Tickertape’s Mutual Fund Screener to research and evaluate funds with over 50+ pre-loaded filters and parameters.

What is Groww Mutual Fund?

Groww Mutual Fund is a SEBI-registered mutual fund managed by Groww Asset Management Limited (Groww AMC). The AMC was originally founded as Indiabulls Asset Management Company in 2008. Groww AMC offers a focused portfolio of equity, debt, hybrid, and index fund schemes with a focus on competitive Groww mutual fund charges, particularly for direct plans. 

Overview of Top Groww Mutual Fund Schemes

Groww Value Fund

Groww Value Fund is an equity mutual fund that follows a value-oriented investment strategy. It invests in stocks that may be trading below their estimated intrinsic value. Its performance depends on the fund manager’s ability to identify undervalued businesses, value unlocking in portfolio companies, and broader equity market conditions.

Groww Largecap Fund

Groww Largecap Fund is a large-cap equity fund that invests mainly in the top 100 companies by market capitalisation. The fund follows a quality-focused approach across large, established companies. Its performance depends on stock selection within the large-cap universe, sector allocation, valuation discipline, and broader large-cap market movements.

Groww ELSS Tax Saver Fund

Groww ELSS Tax Saver Fund is an equity-linked savings scheme that qualifies for tax deductions under Section 80C of the Income Tax Act. It comes with a mandatory 3-year lock-in period. Its performance depends on portfolio diversification, stock selection quality, fund manager strategy, and broader equity market conditions.

Groww Aggressive Hybrid Fund

Groww Aggressive Hybrid Fund is a hybrid mutual fund that invests mainly in equities, with the remaining allocation in debt instruments. It offers exposure to both equity and fixed income within one scheme. Its performance depends on equity market conditions, debt portfolio quality, asset allocation decisions, and macroeconomic factors.

Groww Liquid Fund

Groww Liquid Fund is a debt fund that invests in money market instruments and debt securities with short maturities. It is designed to provide liquidity with relatively lower risk compared to equity funds. Its performance depends on short-term interest rates, credit quality of underlying instruments, and RBI monetary policy.

Groww Short Duration Fund

Groww Short Duration Fund is a debt fund that invests in debt and money market instruments with a short-term duration profile. It aims to provide stable returns over shorter investment horizons. Its performance depends on interest rate movements, credit quality, duration management, and broader debt market conditions.

Groww Overnight Fund

Groww Overnight Fund invests in overnight securities with a 1-day maturity. It belongs to one of the lowest-risk debt mutual fund categories. The fund is generally used for parking idle cash for very short durations. Its performance depends on overnight rates, liquidity conditions, and RBI policy rates.

Groww Dynamic Bond Fund

Groww Dynamic Bond Fund is a debt scheme that adjusts its portfolio duration based on interest rate expectations. It can move between short and long-duration bonds depending on market conditions. Its performance depends on interest rate calls, credit quality, duration strategy, and broader macroeconomic trends.

Groww Nifty India Railways PSU Index Fund

Groww Nifty India Railways PSU Index Fund is a passively managed equity scheme that tracks the Nifty India Railways PSU Index. It provides exposure to railway-linked public sector companies. Its performance depends on the underlying index movement, tracking error, railway sector trends, and concentration risk.

Groww Nifty Total Market Index Fund

Groww Nifty Total Market Index Fund is a passively managed index fund that tracks the Nifty Total Market Index. It offers exposure across large-cap, mid-cap, and small-cap segments through one fund. Its performance depends on index movement, tracking error, sector allocation, and overall equity market conditions.

Tax on Groww Mutual Fund Schemes

Groww’s fund portfolio includes both equity-oriented and debt-oriented schemes, and the applicable tax rules differ between these two categories. The rates below are as of FY 2025-26 and FY 2026-27. Budget 2026 confirmed no changes to these rates.

Equity-Oriented Schemes

Debt-Oriented Schemes

How to Invest in the Groww Mutual Funds in India?

You can start investing in Groww funds in India by following these steps:

1. First, visit an equity investment platform such as smallcase to explore available Groww mutual fund schemes.
2. Next, research and identify Groww funds based on your investment thesis, time horizon, and risk appetite. Tools like the Tickertape Mutual Fund Screener can help you filter and compare funds based on parameters such as returns, expense ratios, fund size, risk ratios, and more.
3. Once you shortlist the fund, visit smallcase, log in, and search for the fund by name. You can then choose the investment mode, either a one-time lump sum or an SIP, and complete the investment process.

Benefits of Investing in Groww Mutual Fund Schemes

• Diverse Fund Range Under One AMC: Groww AMC’s Groww portfolio covers equity, debt, hybrid, and index fund categories, allowing investors to manage multiple investment goals through a single fund house. This simplifies portfolio tracking and management.
• Competitive Expense Ratios: Several Groww mutual fund schemes, particularly debt and index funds, carry low direct plan expense ratios. The Groww Liquid Fund charges 0.10% and the index funds charge under 0.52%, making them cost-efficient compared to actively managed alternatives.
• Tax-Efficient Options: The Groww ELSS Tax Saver Fund provides a dual benefit of potential capital growth and a Section 80C deduction of up to Rs 1.5 lakh per year, making it relevant for investors looking to reduce their tax outflow while staying invested in equity.
• Index-Based Passive Strategies: The Groww Nifty Total Market Index Fund and Groww Nifty India Railways PSU Index Fund provide low-cost, rules-based exposure to the broader market and a specific infrastructure theme respectively, with no fund manager timing risk.
• Liquidity Across Debt Schemes: The Groww Liquid Fund and Groww Overnight Fund provide high liquidity for short-term cash management. These are among the lowest-risk fund categories and can serve as alternatives to savings accounts or short-duration fixed deposits for parking surplus funds.

Risks Involved While Investing in Groww Mutual Fund Schemes

• Equity Market Risk: Equity-oriented Groww funds, including the Value Fund, Largecap Fund, ELSS, and index funds, are subject to market risk. The NAV can fall significantly during broad market corrections, and there is no capital protection. Very high-risk rated funds carry the possibility of short-term losses.
• Sector Concentration Risk (Railways PSU Fund): The Groww Nifty India Railways PSU Index Fund concentrates entirely in railway-related PSU stocks. This makes it highly sensitive to sector-specific policy changes, government capex allocations, and PSU performance cycles, which can result in sharp drawdowns.
• Interest Rate Risk for Debt Funds: The Groww Dynamic Bond Fund and Groww Short Duration Fund carry interest rate risk. Rising interest rates can reduce the NAV of bond-heavy funds, particularly those with longer portfolio duration. Investors in these schemes should be aware of the interest rate environment.
• Credit Risk in Debt Funds: Debt funds that hold corporate bonds carry the risk of credit downgrades or defaults. While the Groww Liquid and Overnight funds typically hold high-quality, short-maturity instruments, longer-duration debt funds may have exposure to credit events.
• Relatively Small AUM for Some Schemes: Several Groww funds, including the ELSS Tax Saver Fund (Rs 51 cr.), Aggressive Hybrid Fund (Rs 46 cr.), and Dynamic Bond Fund (Rs 79 cr.), have relatively small AUM. Smaller funds may face higher tracking impact costs and may be wound up if AUM falls below regulatory thresholds.
• Limited Long-Term Track Record: Groww AMC took over the funds in May 2023 and has since relaunched several schemes. The fund house has a limited track record under its current management team, which makes it difficult to evaluate performance across full market cycles.

Factors to Consider When Investing in Groww Mutual Fund Schemes

• Alignment with Investment Objective: Different Groww funds serve different goals. The Groww Value Fund and Groww Largecap Fund target long-term equity growth. The Groww Liquid Fund and Overnight Fund are for short-term liquidity. The ELSS Tax Saver Fund adds a tax benefit component. Matching the fund type to your specific goal is the starting point.
• Expense Ratio: Groww mutual fund charges vary meaningfully across schemes. Direct plans are significantly cheaper than regular plans. The liquid and overnight funds have very low expense ratios (0.10 to 0.21%). Equity and hybrid funds in the direct plan range from 0.57% to 1.38%. Choosing the direct plan reduces the Groww mutual fund charges over long investment horizons.
• Fund Manager Track Record: Groww AMC has been operating under its current management since May 2023. Investors may review performance since the acquisition, the fund managers’ previous experience at other AMCs, and whether the investment philosophy has remained consistent across market cycles.
• AUM Size and Liquidity: Funds with very small AUM may carry higher implicit transaction costs and liquidity risk. For debt funds like the Groww Dynamic Bond Fund (Rs 79 cr.), a small AUM means fewer investors sharing operational costs and potential concentration risk in the portfolio.
• Tax Implications Based on Fund Type: As covered in the tax section, equity and debt fund taxation rules differ materially. Debt fund units acquired after April 1, 2023 are taxed at slab rate regardless of holding period. For investors in higher tax brackets, this changes the net return calculation for Groww’s debt schemes significantly versus equity.
• Investment Horizon: Equity-oriented Groww funds are suited for a minimum of five to seven years. Hybrid funds for three to five years. Short-duration and liquid funds are appropriate for investment periods of weeks to months. Investors should match their horizon to the fund category to avoid unnecessary exit loads or short-term losses.

Who Should Consider Groww Mutual Fund Schemes?

• Investors Already on the Groww Platform: Existing Groww app users who already invest in stocks or ETFs through the platform may find it convenient to add Groww AMC mutual fund schemes to their portfolio, as the same ecosystem supports research, investment, and tracking.
• Cost-Conscious Investors Evaluating Direct Plans: Investors who actively seek low-cost direct plan investments may consider Groww’s index funds and liquid funds, which offer competitive expense ratios. The Groww Nifty Total Market Index Fund at 0.46% and the Groww Liquid Fund at 0.10% are among the more affordable options in their respective categories.
• Tax-Saving Investors: Investors looking to claim Section 80C deductions while maintaining equity market exposure can consider the Groww ELSS Tax Saver Fund. The 3-year lock-in is shorter than most other 80C options such as PPF and NSC.
• Investors Seeking Complete Coverage from One AMC: Investors who prefer consolidating their mutual fund investments with a single fund house can use Groww AMC’s diverse portfolio to cover equity growth, debt stability, tax savings, and thematic index exposure through a single relationship.
• Not Suitable For: Investors who need a long-established track record before investing may prefer larger AMCs with decades of consistent performance data. The Railways PSU Index Fund is not suitable for those averse to high sector concentration risk. Debt fund investors in higher income tax brackets should evaluate the slab-rate taxation on gains before choosing Groww’s debt schemes.

To Wrap It Up…

Groww Mutual Fund offers a focused range of equity, debt, and index fund schemes under its growing Groww AMC umbrella. Each scheme carries its own risk profile, expense structure, and tax treatment. Investors may review the fund’s strategy, expense ratio, AUM, and their own investment objectives before investing.

You can use the Tickertape Mutual Fund Screener to compare various Groww mutual fund schemes using 50+ prebuilt parameters, including returns, risk ratios, expense ratios, and more.

Frequently Asked Questions on Groww Mutual Funds