Zerodha Mutual Funds: Schemes, Performance, Returns
Zerodha Asset Management’s AUM has grown steadily since launch, rising from ₹4,287.24 cr. in January 2025 to nearly ₹6,400 cr. by May 2025, and crossing ₹8,000 cr within its first two years. As of January 2025, the fund house had 7 live schemes, all built around a passive, rule-based investing approach that focuses on index funds, ETFs, and transparent model-driven strategies rather than traditional active management. Here, we will be covering all the Zerodha mutual funds, along with key details about these funds, potential risks and factors to consider before investing.
List of Zerodha Mutual Funds
| Name | AUM (in ₹ cr.) | Expense Ratio | NAV(₹ per unit) | Absolute Returns - 1Y | Absolute Returns - 3M | Absolute Returns - 6M |
|---|---|---|---|---|---|---|
| Zerodha Nifty LargeMidcap 250 Index Fund | 1178.37 | 0.27 | 14.33 | 9 | 3.56 | 5.59 |
| Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund | 238.02 | 0.28 | 14.35 | 9.06 | 3.57 | 5.62 |
| Zerodha Gold ETF FoF | 125.05 | 0.23 | 16.13 | 55.98 | 23.62 | 27.92 |
| Zerodha Silver ETF FoF | 90.49 | 0.17 | 14.06 | - | 33.24 | - |
| Zerodha Overnight Fund | 77.54 | 0.08 | 10.36 | - | 1.33 | 2.69 |
| Zerodha Multi Asset Passive FoF | 51.78 | 0.18 | 10.86 | - | 7.97 | - |
| Zerodha Nifty 50 Index Fund | 10.02 | - | 10.32 | - | - | - |
| Zerodha BSE SENSEX Index Fund | - | - | 10.18 | - | - | - |
Disclaimer: Please note that the above list of Zerodha 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 Zerodha MF is from 20th November 2025. This data is derived from the Tickertape Mutual Funds Screener.
- AMC: Zerodha Asset Management Private Limited
- Plan: Growth
- AUM: 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.
Zerodha Mutual Funds – Key Information
| Parameter | Details |
| AMC Name | Zerodha Asset Management Private Limited |
| Brand / Fund House Name | Zerodha Mutual Fund |
| Incorporation Date (AMC) | 16 August 2021 (MCA filing) |
| SEBI Registration Date (Portfolio Manager / AMC Licence Activation) | 10 October 2022 (as per SEBI regulatory updates) |
| Headquarters | Bengaluru, Karnataka |
| Sponsors | Zerodha Broking Limited |
| Trustee Company | Zerodha Trustee Private Limited |
| CEO / Key Managerial Person | Vishal Jain (CEO – Zerodha AMC) |
| CIO | Not Applicable (Zerodha AMC follows a passive, rule-based investing framework) |
| Total AUM (Latest reported) | ~₹8,000 cr. (within ~2 years of launch) |
| Number of Live Schemes (Jan 2025) | 7 schemes |
| Product Focus | Passive, rule-based strategies (Index Funds, ETFs, and Multi-Asset FoFs) |
| Investment Approach | Transparent, rules-based, non-discretionary methodology with low-cost structures |
Overview of the Zerodha Mutual Funds
Zerodha Nifty LargeMidcap 250 Index Fund
This fund follows the Nifty LargeMidcap 250 Index, which includes the top 100 large-cap companies and the next 150 mid-cap companies. It aims to mirror the index’s performance through a passive, rule-based approach. The fund gives broad exposure across large and mid-sized Indian companies.
Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund
This scheme is an ELSS version of the LargeMidcap 250 index fund. It tracks the same index but comes with a three-year lock-in because it is an ELSS product. It blends tax-saving eligibility under Section 80C with index-based equity exposure.
Zerodha Gold ETF FoF
This fund of funds invests in a Gold ETF, which in turn holds physical gold. It allows users to get gold exposure without a demat account or handling physical gold. The fund simply follows domestic gold prices through the underlying ETF.
Zerodha Silver ETF FoF
This fund of funds invests in a Silver ETF that holds physical silver. It provides access to silver as a commodity in a mutual fund format. Since silver prices tend to be more volatile, the fund’s performance reflects movement in the underlying silver ETF.
Zerodha Overnight Fund
This is a debt scheme that invests in overnight securities with a one-day maturity. It is generally used for very short-term cash parking and has lower risk compared to equity or commodity funds. Returns depend on short-term money market rates.
Zerodha Multi Asset Passive FoF
This fund invests across four asset classes, large-cap equity, mid-cap equity, gold, and government securities, using a passive framework. The aim is to spread risk across different asset classes with a fixed, rule-based allocation rather than active decision-making.
Zerodha Nifty 50 Index Fund
This fund tracks the Nifty 50 Index, which includes 50 of India’s largest companies. It replicates the index passively to reflect the performance of major Indian blue-chip companies. It is a straightforward large-cap index product.
Zerodha BSE SENSEX Index Fund
This scheme follows the BSE SENSEX, a well-known index of 30 established companies. It uses a passive structure to mirror the index’s movements, making it a simple way to gain exposure to leading Indian companies included in the Sensex.
How to Invest in the Zerodha Mutual Funds?
You can easily start to invest in the Zerodha mutual funds in India by following these steps:
- Visit an equity investment platform such as smallcase
- The next step is to research and identify the best Zerodha MF, based on your investment thesis. Tools like the Tickertape Mutual Fund Screener can help you filter and compare funds based on parameters such as returns, expense ratio, and fund size.
- Once you shortlist the funds, 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 a SIP investment plan, and complete the process.
Top Fund Managers of Mutual Funds in Zerodha
Kedarnath Mirajkar
Kedarnath Mirajkar is a Fund Manager & Dealer (TREPS) at Zerodha AMC. He brings over 17 years of experience in financial markets, with his earlier stint at Aditya Birla Sun Life Asset Management Company Ltd. (ABSLAMC), where he managed passive products like ETFs and index funds. He holds a PGDBM in Finance from Wigan & Leigh and has been involved in building processes around investment operations, securities valuation, and regulatory compliance.
Shyam Agarwal
Shyam Agarwal is a Fund Manager & Dealer (Equity & TREPS) at Zerodha AMC. He has been working in the asset-management industry for over 3 years, and prior to joining Zerodha, he worked in research roles at firms including Windmill Capital Private Limited and True Beacon. His academic qualification is B.Com, and his focus includes managing commodity/ETF-related offerings.
Taxation on Zerodha Mutual Funds
The tax treatment for Zerodha Mutual Funds depends on the scheme’s category: equity, debt, hybrid, or commodity-based (such as gold and silver). Each category has its own holding-period rules and tax rates. Below is an easy-to-read breakdown of how gains are taxed across different types of funds.
Equity Mutual Funds
| Type of Gain | Holding Period | Tax Rate |
| STCG | Less than 12 months | 20% |
| LTCG | More than 12 months | 12.5% (annual gains up to ₹1.25 lakh are not taxed) |
Debt Mutual Funds
| Type of Gain | Holding Period | Tax Rate | Indexation |
| STCG | Below 36 months | Taxed as per the individual’s income-tax slab | Not available |
| LTCG | Beyond 36 months | 12.50% | Not available |
Hybrid Mutual Funds
| Type of Hybrid Fund | STCG Taxation | LTCG Taxation | Indexation |
| Equity-Oriented Hybrid Funds | 20% if held for under 1 year | 12.5% if held beyond 1 year; ₹1.25 lakh annual LTCG exemption applies | Not available |
| Debt-Oriented Hybrid Funds | Taxed as per income-tax slab for units held under 3 years | 12.5% if held for more than 3 years | Not available |
Gold & Silver Mutual Funds (Commodity Funds)
| Type of Gain | Earlier Holding Period | Revised Holding Period | Earlier Tax Rate | Revised Tax Rate |
| STCG | Under 36 months | Under 24 months | Taxed as per slab | Taxed as per slab |
| LTCG | Over 36 months | Over 24 months | 20% | 12.50% |
Documents Required To Invest in Zerodha Mutual Funds
To invest in Zerodha Mutual Funds, users must complete basic KYC verification as mandated by SEBI. The following documents are required:
- PAN Card – Mandatory for all mutual fund investments.
- Aadhaar Card – Used for identity verification and Aadhaar-based e-KYC.
- Bank Account Details – Includes account number, IFSC code, and a cancelled cheque or recent bank statement.
- Address Proof – Passport, driving licence, voter ID, or a recent utility bill (if Aadhaar does not serve as address proof).
- Photograph – A recent passport-size photograph, depending on KYC mode.
- Signature – Digital or scanned signature for verification.
Risks of Investing in Zerodha Mutual Funds
- Exposure to Market Movements: Zerodha’s equity index funds mirror the behaviour of their benchmark indices. Any correction or volatility in large-cap, mid-cap, or broad-market indices is directly reflected in the fund’s NAV.
- Tracking Error Possibility: Passive funds aim to replicate the index, but factors such as cash holdings, rebalancing delays, and expense ratios can create a gap between the fund’s returns and the actual index performance.
- Limited Historical Track Record: Since Zerodha AMC is relatively new, many funds have a short performance history. This can make long-term return consistency, volatility patterns, and risk behaviour harder to evaluate.
- No Active Intervention: All Zerodha schemes follow a rule-based, passive investment method. Fund managers do not take tactical decisions during sharp market movements, which means the fund will continue to track the index even in unfavourable phases.
- FoF Structural Costs: Fund-of-funds options such as gold, silver, and multi-asset funds include both the FoF’s expense ratio and the cost of the underlying ETFs, which may marginally affect overall returns.
Factors to Consider Before Investing in Zerodha Mutual Funds
- Investment Objective: Each scheme is structured around a rule-based or index-tracking approach. Understanding whether the fund aligns with goals such as long-term wealth creation, diversification, tax-saving, or short-term parking is important.
- Risk Profile of the Fund Category: Zerodha offers equity, commodity, debt, and multi-asset schemes, each with its own level of risk. Equity index funds move with broader market trends and sector swings, while gold and silver FoFs depend heavily on global metal prices and currency movements. Assessing how these risks align with individual preferences is important.
- Passive Investment Approach: All Zerodha index funds follow a passive strategy. There is no active stock selection or tactical allocation based on market outlook. Returns will closely follow the underlying index or asset class behaviour.
- Cost Structure and FoF Layering: All Zerodha Index funds have low expense ratios, but Fund-of-Funds options come with two levels of fees: the FoF expenses plus the underlying ETF costs. While still regulated, this structure may slightly influence the net return when compared to single-layer index funds.
- Historical Data and Track Record: Zerodha AMC is a young fund house, and some schemes have short performance histories. Limited long-term data may make it harder to evaluate how the fund behaves across different market cycles or stress periods.
Conclusion
Zerodha Mutual Funds follow a simple, rule-based framework across equity, debt, commodity, and multi-asset categories. Understanding the index each fund tracks, its risk characteristics, taxation rules, and cost structure helps set the right expectations before investing. Investors who wish to explore these schemes further can research and invest in mutual funds through smallcase, based on their own assessment and financial considerations.
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Frequently Asked Questions on Zerodha Mutual Funds
Yes. Zerodha operates its own asset management company called Zerodha Asset Management Private Limited, which offers a range of passive, rule-based mutual fund schemes.
Zerodha Fund House is the mutual fund arm of Zerodha. It manages index funds, commodity FoFs, an overnight fund, and a multi-asset passive FoF, all built on transparent and rules-driven investment frameworks.
Here is how investors can invest in Zerosha mutual funds:
– Users can explore Zerodha Mutual Funds on platforms like smallcase.
– They can review schemes based on their own investment thesis, goals, and preferences. Tools such as the Tickertape Mutual Fund Screener help compare funds by returns, category, cost, and other parameters.
– After shortlisting, users can log in to smallcase, search for the chosen fund, and invest through a lump sum or SIP, based on what suits them
All Zerodha Mutual Funds follow a passive, rule-based approach, meaning the schemes track an index or predefined model instead of taking active stock-picking calls.
Exit load policies vary by scheme. Most index funds do not carry exit loads, while specific debt or hybrid schemes may have different terms. It’s important for the investors to check the fund’s scheme information document (SID) before investing.
Yes, users can set up SIPs for most Zerodha Mutual Funds, except the Zerodha BSE SENSEX Index Fund, which currently does not support SIP mode. The minimum SIP amount is ₹100 for eligible schemes. For the Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund, the maximum SIP amount is ₹500 as per the fund’s defined limits.
