Zerodha Mutual Funds: Schemes, Performance, Returns

Zerodha Asset Management has grown steadily since launch, with its AUM rising from ₹4,287.24 cr as of 8th January 2025 to ₹14,272.69 cr as of 31st March 2026. The fund house follows a largely passive, rule-based investing approach, with schemes across index funds, ETFs, debt-index products and fund-of-funds. Zerodha Fund House also publishes tracking error, tracking difference, scheme performance and AUM disclosures for its funds. Here, we will cover Zerodha mutual funds, key scheme details, potential risks and factors to consider before investing.

List of Zerodha Mutual Funds

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 Funds is from 11th June 2026. 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

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:

1. Visit an equity investment platform such as smallcase
2. The next step is to research and identify the best Zerodha Mutual Funds, 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.
3. 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

Debt Mutual Funds

Hybrid Mutual Funds

Gold & Silver Mutual Funds (Commodity Funds)

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

• Equity Market Risk: Zerodha Mutual Fund offers a wide range of equity schemes across large-cap, mid-cap, small-cap, flexi-cap, value and thematic categories. These funds can be affected by market corrections, economic slowdowns, valuation changes and earnings disappointments.
• Mid-Cap and Small-Cap Volatility: Schemes with exposure to mid-cap and small-cap companies may experience sharper price fluctuations than large-cap funds. These segments can be more sensitive to changes in market sentiment and liquidity conditions during periods of uncertainty.
• Sector and Thematic Concentration Risk: ABSL offers sector-focused funds such as PSU, infrastructure and healthcare funds. Since these schemes invest predominantly in specific sectors or themes, their performance can be significantly affected if the underlying sector underperforms. For example, the ABSL PSU Equity Fund is fully aligned to the PSU theme and carries a very high risk classification.
• Interest Rate and Credit Risk: Zerodha Mutual Fund manages a large debt fund franchise across liquid, low-duration, corporate bond and credit-risk categories. Debt fund returns can be affected by changes in interest rates, while credit events such as rating downgrades or defaults may impact portfolio values.
• No Guaranteed Returns: Mutual fund returns are market-linked and depend on the performance of underlying securities. Even though Zerodha Mutual Fund manages over ₹4 lakh cr in assets and is among India’s largest fund houses, fund size and past performance do not guarantee future returns.

Factors to Consider Before Investing in Zerodha Mutual Funds

• Fund Category: Zerodha Mutual Fund mainly offers passive and index-based schemes. The fund category shows whether the scheme tracks an equity index, debt index or a specific market segment.
• Investment Objective: Each scheme has a stated objective that explains the index or asset class it aims to track. This helps understand the fund’s broad investment approach.
• Tracking Error: Since Zerodha Mutual Fund focuses on passive investing, tracking error is important. It shows how closely the scheme follows its benchmark index.
• Expense Ratio: Passive funds usually have lower costs than actively managed funds. The expense ratio shows the annual cost charged for managing the scheme.
• Risk Level: The risk level depends on the underlying index or asset class. Equity index funds may see sharper NAV movements than debt-oriented schemes.
• Liquidity and Fund Size: A scheme’s AUM and trading liquidity, especially in ETFs, can affect ease of buying, selling and price efficiency.
• Past Performance: Historical returns show how the scheme has moved with its benchmark, but they do not indicate future returns.
• Tax Treatment: Tax rules depend on whether the scheme is equity-oriented, debt-oriented or fund-of-fund based, along with the holding period.

To Wrap It Up

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