AlphaGrep Flexi Cap Fund vs Navi Nifty Midsmallcap 400 Index Fund
Direct Plan, Growth option · Data as on 30-10-2026
AlphaGrep Flexi Cap Fund is a Flexi Cap fund and Navi Nifty Midsmallcap 400 Index Fund is an Index fund. AlphaGrep Flexi Cap Fund charges 2.80% a year and Navi Nifty Midsmallcap 400 Index Fund 0.52% (Direct plans). Their portfolios overlap 23.7%: they hold 115 of the same securities.
Navi Nifty Midsmallcap 400 Index Fund
Index
- Expense ratio
- 0.52%
- NAV
- ₹9.88
Which is better, AlphaGrep Flexi Cap or Navi Nifty Midsmallcap 400 Index? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Navi Nifty Midsmallcap 400 Index costs less: 0.52% a year against 2.80% (Direct plans).
- AlphaGrep Flexi Cap fell less in its worst fall since 13-08-2026: −7.6% against −12.1%.
- AlphaGrep Flexi Cap holds more in large companies: 16.7% of the fund in large caps against 3.7%.
- AlphaGrep Flexi Cap is the larger fund: ₹80 Cr against ₹12 Cr.
- Their portfolios overlap 23.7%: 115 of the same holdings.
Past returns do not promise future returns. This page is information, not investment advice.
Key facts
From each fund's scheme summary document and AMFI
| Fact | AlphaGrep Flexi Cap Fund | Navi Nifty Midsmallcap 400 Index Fund |
|---|---|---|
| Fund house | AlphaGrep Mutual Fund | Navi Mutual Fund |
| Category | Flexi Cap | Index |
| AUM | ₹80 Cr (30-09-2026) | ₹12 Cr (30-09-2026) |
| NAV | ₹9.59 (Direct) | ₹9.88 (Direct) |
| Expense ratio (Direct) | 2.80% | 0.52% |
| Expense ratio (Regular) | 4.66% | 1.40% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | Nifty MidSmallcap 400 Index |
| Launch date | 11-08-2026 | 09-12-2025 |
| Minimum investment | ₹500 | ₹100 |
| Lock in | None | None |
| Fund managers | Ravneet Singh | Ashutosh Shirwaikar |
| Exit load | Exit load of 1%, if redeemed within 15 Days. | NIL |
AlphaGrep Flexi Cap vs Navi Nifty Midsmallcap 400 Index: Returns Comparison
Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.
| Fund | 1M | 3M | 6M | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|---|---|---|
| AlphaGrep Flexi Cap Fund (Direct) | −3.35% | -- | -- | -- | -- | -- | -- |
| Navi Nifty Midsmallcap 400 Index Fund (Direct) | −4.45% | −7.72% | −2.85% | -- | -- | -- | -- |
| Flexi Cap average | −1.62% | -- | -- | -- | -- | -- | -- |
Category average: the average of the 46 Flexi Cap funds, same plan type.
AlphaGrep Flexi Cap vs Navi Nifty Midsmallcap 400 Index: Year-wise Returns
| Year | AlphaGrep Flexi CapAlphaGrep Flexi Cap | Navi Nifty Midsmallcap 400 IndexNavi Nifty Midsmallcap 400 Index |
|---|---|---|
| 2026to date | -- | −3.70% |
AlphaGrep Flexi Cap vs Navi Nifty Midsmallcap 400 Index: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of AlphaGrep Flexi Cap Fund
AlphaGrep Flexi Cap vs Navi Nifty Midsmallcap 400 Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | AlphaGrep Flexi Cap Fund (Direct) | Navi Nifty Midsmallcap 400 Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | −22.07% | −1.14% |
| Standard deviation | 11.03% | 17.20% |
| Sharpe ratio | -2.48 | -0.37 |
| Sortino ratio | -2.84 | -0.50 |
| Maximum drawdown | −7.6% (23-10-2026) | −14.3% (23-03-2026) |
| Beta | 0.83 | 0.99 |
| Alpha | +1.93% | −0.90% |
From daily NAVs, 13-08-2026 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
Drawdowns
How far below its previous high each one was on every day: the falls an investor had to sit through. 0% means it was at a new high.
AlphaGrep Flexi Cap Fund (Direct)
Navi Nifty Midsmallcap 400 Index Fund (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| AlphaGrep Flexi Cap Fund (Direct) | −7.6% | 28-08-2026 | 23-10-2026 | Not yet | -- | −6.0% |
| Navi Nifty Midsmallcap 400 Index Fund (Direct) | −12.1% | 28-08-2026 | 23-10-2026 | Not yet | -- | −10.1% |
| Nifty 500 TRI | −9.3% | 13-08-2026 | 23-10-2026 | Not yet | -- | −7.4% |
From daily values since 13-08-2026, the first day every fund has.
AlphaGrep Flexi Cap vs Navi Nifty Midsmallcap 400 Index: Portfolio Overlap
From each fund's latest monthly portfolio: AlphaGrep Flexi Cap Fund, September 2026; Navi Nifty Midsmallcap 400 Index Fund, September 2026
Holdings in common
- Overlap
- 23.7%
- Held by both
- 115
- Only in AlphaGrep Flexi Cap
- 48
- Only in Navi Nifty Midsmallcap 400 Index
- 281
| Security | % of AlphaGrep Flexi Cap | % of Navi Nifty Midsmallcap 400 Index |
|---|---|---|
| Dixon Technologies (India) Ltd. | 1.46% | 0.87% |
| Lupin Ltd. | 0.97% | 0.78% |
| AU Small Finance Bank Ltd. | 0.77% | 0.93% |
| Aditya Birla Capital Ltd. | 0.54% | 0.51% |
| Karur Vysya Bank Ltd. | 1.10% | 0.49% |
| Sundaram Finance Ltd. | 0.48% | 0.47% |
| 360 ONE WAM Ltd. | 0.58% | 0.43% |
| Steel Authority of India Ltd. | 0.55% | 0.42% |
| Lloyds Metals And Energy Ltd. | 0.49% | 0.41% |
| Havells India Ltd. | 0.46% | 0.41% |
| National Aluminium Company Ltd. | 0.39% | 0.48% |
| Jindal Stainless Ltd. | 0.43% | 0.37% |
| Swiggy Ltd. | 0.37% | 0.59% |
| Gland Pharma Ltd. | 0.37% | 0.36% |
| Info Edge (India) Ltd. | 0.34% | 0.75% |
| Lodha Developers Ltd. | 0.33% | 0.53% |
| Laurus Labs Ltd. | 0.32% | 1.22% |
| Redington Ltd. | 0.32% | 0.38% |
| AnandRathi Wealth Ltd. | 1.15% | 0.31% |
| Blue Star Ltd. | 0.47% | 0.31% |
| Hero MotoCorp Ltd. | 0.30% | 1.08% |
| Kirloskar Oil Engines Ltd. | 1.50% | 0.30% |
| Aster DM Quality Care Ltd. | 0.78% | 0.30% |
| Gujarat Fluorochemicals Ltd. | 0.74% | 0.29% |
| TD Power Systems Ltd. | 1.18% | 0.28% |
| PI Industries Ltd. | 0.27% | 0.30% |
| City Union Bank Ltd. | 0.27% | 0.34% |
| Balkrishna Industries Ltd. | 0.88% | 0.27% |
| The Federal Bank Ltd. | 0.27% | 1.24% |
| Tata Communications Ltd. | 0.27% | 0.31% |
| Bharat Forge Ltd. | 0.26% | 0.85% |
| GE Vernova T&D India Ltd. | 0.26% | 0.82% |
| United Spirits Ltd. | 0.26% | 0.63% |
| Poonawalla Fincorp Ltd. | 0.90% | 0.25% |
| Indus Towers Ltd. | 0.24% | 0.76% |
| Jubilant Foodworks Ltd. | 0.24% | 0.28% |
| Max Financial Services Ltd. | 0.24% | 0.58% |
| RBL Bank Ltd. | 0.23% | 0.40% |
| Cholamandalam Financial Holdings Ltd. | 0.51% | 0.22% |
| KEI Industries Ltd. | 0.21% | 0.43% |
| Delhivery Ltd. | 0.21% | 0.39% |
| PTC Industries Ltd. | 0.38% | 0.21% |
| Fortis Healthcare Ltd. | 0.21% | 0.64% |
| Premier Energies Ltd | 1.18% | 0.20% |
| Narayana Hrudayalaya Ltd. | 0.31% | 0.20% |
| Page Industries Ltd. | 0.20% | 0.35% |
| Sai Life Sciences Ltd. | 0.19% | 0.33% |
| Tata Technologies Ltd. | 0.59% | 0.19% |
| Petronet LNG Ltd. | 0.19% | 0.34% |
| Aurobindo Pharma Ltd. | 0.18% | 0.73% |
| Bharat Heavy Electricals Ltd. | 0.18% | 0.96% |
| Timken India Ltd. | 0.26% | 0.18% |
| ZF Commercial Vehicle Control Systems India Ltd. | 1.01% | 0.17% |
| The Ramco Cements Ltd. | 0.47% | 0.17% |
| Kaynes Technology India Ltd. | 0.31% | 0.17% |
| Deepak Nitrite Ltd. | 0.19% | 0.17% |
| UPL Ltd. | 0.16% | 0.48% |
| Indraprastha Gas Ltd. | 1.05% | 0.16% |
| AWL Agri Business Ltd. | 0.41% | 0.16% |
| Kajaria Ceramics Ltd. | 0.21% | 0.16% |
| Sagility Ltd. | 0.17% | 0.16% |
| Endurance Technologies Ltd. | 0.69% | 0.15% |
| AFFLE 3I Ltd. | 0.56% | 0.15% |
| NLC India Ltd. | 0.46% | 0.15% |
| Castrol India Ltd. | 0.40% | 0.15% |
| Capri Global Capital Ltd. | 0.26% | 0.15% |
| PVR Inox Ltd. | 0.85% | 0.14% |
| Motherson Sumi Wiring India Ltd. | 0.85% | 0.14% |
| NTPC Green Energy Ltd. | 0.83% | 0.14% |
| HBL Engineering Ltd. | 0.38% | 0.14% |
| Indian Renewable Energy Development Agency Ltd. | 0.33% | 0.14% |
| Jyoti CNC Automation Ltd. | 0.26% | 0.14% |
| Dabur India Ltd. | 0.13% | 0.36% |
| Ola Electric Mobility Ltd. | 0.71% | 0.13% |
| Engineers India Ltd. | 0.59% | 0.13% |
| UNO Minda Ltd. | 0.13% | 0.34% |
| Schaeffler India Ltd. | 0.13% | 0.25% |
| Bharti Hexacom Ltd. | 0.12% | 0.17% |
| Syrma SGS Technology Ltd. | 0.12% | 0.22% |
| BEML Ltd. | 1.34% | 0.12% |
| Aditya Birla Sun Life Amc Ltd. | 0.79% | 0.12% |
| Emami Ltd. | 0.42% | 0.12% |
| Zen Technologies Ltd. | 0.15% | 0.12% |
| LIC Housing Finance Ltd. | 0.11% | 0.25% |
| IRB Infrastructure Developers Ltd. | 0.96% | 0.11% |
| Syngene International Ltd. | 0.47% | 0.11% |
| Ramkrishna Forgings Ltd. | 0.20% | 0.11% |
| Honeywell Automation India Ltd. | 0.12% | 0.11% |
| Prestige Estates Projects Ltd. | 0.11% | 0.40% |
| Mahanagar Gas Ltd. | 1.01% | 0.10% |
| Titagarh Rail Systems Ltd. | 0.67% | 0.10% |
| Honasa Consumer Ltd. | 0.61% | 0.10% |
| Triveni Turbine Ltd. | 0.57% | 0.10% |
| Can Fin Homes Ltd. | 0.38% | 0.10% |
| Sun TV Network Ltd. | 1.26% | 0.09% |
| TBO Tek Ltd. | 0.51% | 0.09% |
| Minda Corporation Ltd. | 0.31% | 0.09% |
| Jubilant Ingrevia Ltd. | 0.29% | 0.09% |
| LT Foods Ltd. | 0.29% | 0.09% |
| Intellect Design Arena Ltd. | 0.17% | 0.09% |
| CIE Automotive India Ltd. | 1.95% | 0.08% |
| Tenneco Clean Air India Ltd. | 0.41% | 0.08% |
| Aadhar Housing Finance Ltd. | 0.38% | 0.08% |
| NMDC Steel Ltd. | 0.28% | 0.08% |
| KEC International Ltd. | 0.26% | 0.08% |
| Sumitomo Chemical India Ltd. | 0.22% | 0.08% |
| KSB Ltd. | 0.41% | 0.07% |
| Concord Biotech Ltd. | 0.37% | 0.07% |
| Indian Overseas Bank | 0.35% | 0.07% |
| Elecon Engineering Company Ltd. | 0.58% | 0.06% |
| Anupam Rasayan India Ltd. | 0.18% | 0.06% |
| Nuvoco Vistas Corporation Ltd. | 0.17% | 0.05% |
| UCO Bank | 0.14% | 0.04% |
| Trident Ltd. | 0.13% | 0.04% |
| Afcons Infrastructure Ltd. | 0.01% | 0.06% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 23.7% means 23.7% of each fund's money sits in positions the other also holds. Matched by ISIN. Cash and hedged positions are left out.
Largest holdings only in AlphaGrep Flexi Cap Fund
| Security | % of fund |
|---|---|
| DSP Mutual Fund - DSP Gold ETF | 3.81% |
| 91 DAY T-BILL 24.12.26 | 1.78% |
| Bharat Electronics Ltd. | 1.58% |
| Niva Bupa Health Insurance Company Ltd. | 1.41% |
| NTPC Ltd. | 1.24% |
Largest holdings only in Navi Nifty Midsmallcap 400 Index Fund
| Security | % of fund |
|---|---|
| MULTI COMMODITY EXCHANGE OF INDIA LTD. | 1.33% |
| ONE 97 COMMUNICATIONS LIMITED | 1.14% |
| THE INDIAN HOTELS COMPANY LIMITED | 1.01% |
| COFORGE LIMITED | 0.96% |
| INDUSIND BANK LIMITED | 0.94% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | AlphaGrep Flexi Cap | Navi Nifty Midsmallcap 400 Index |
|---|---|---|
| Equity | 81.5% | 97.8% |
| Debt | 1.8% | 0.0% |
| Cash and others | 16.8% | 2.2% |
Market cap of stocks
| Market cap | AlphaGrep Flexi Cap | Navi Nifty Midsmallcap 400 Index |
|---|---|---|
| Large Cap | 16.7% | 3.7% |
| Mid Cap | 21.7% | 59.3% |
| Small Cap | 41.8% | 34.5% |
| Not on AMFI's list | 1.2% | 0.3% |
Share of the whole fund. Groups follow AMFI's latest list: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.
Largest sectors
| Sector | AlphaGrep Flexi Cap | Navi Nifty Midsmallcap 400 Index |
|---|---|---|
| PHARMACEUTICALS & BIOTECHNOLOGY | 0.0% | 8.6% |
| Auto Components | 7.6% | 0.0% |
| BANKS | 0.0% | 7.4% |
| FINANCE | 0.0% | 7.0% |
| Pharmaceuticals & Biotechnology | 6.1% | 0.0% |
| AUTO COMPONENTS | 0.0% | 5.9% |
| Electrical Equipment | 5.8% | 0.0% |
| CAPITAL MARKETS | 0.0% | 4.9% |
| INDUSTRIAL PRODUCTS | 0.0% | 4.9% |
| Consumer Durables | 4.8% | 0.0% |
| Finance | 4.2% | 0.0% |
| Industrial Products | 3.5% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
AlphaGrep Flexi Cap vs Navi Nifty Midsmallcap 400 Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | AlphaGrep Flexi Cap Fund | Navi Nifty Midsmallcap 400 Index Fund |
|---|---|---|
| Total expense ratio (Direct) | 2.80% | 0.52% |
| Base expense ratio (Direct) | 0.50% | 0.15% |
| Total expense ratio (Regular) | 4.66% | 1.40% |
| Base expense ratio (Regular) | 2.08% | 0.90% |
The expense ratio comes out of the fund's assets every day, so every return on this page is already after it. Base expense ratio: the fund house's own fee. The total adds brokerage, transaction costs, and levies with GST.
More comparisons
Each fund against the others of its category
AlphaGrep Flexi Cap Fund vs Navi Nifty Midsmallcap 400 Index Fund: Frequently Asked Questions
What is the difference between AlphaGrep Flexi Cap Fund and Navi Nifty Midsmallcap 400 Index Fund?
AlphaGrep Flexi Cap Fund is a Flexi Cap fund, Navi Nifty Midsmallcap 400 Index Fund is an Index fund, run by AlphaGrep Mutual Fund and Navi Mutual Fund. Their portfolios overlap 23.7%. AlphaGrep Flexi Cap Fund charges 2.80% a year and Navi Nifty Midsmallcap 400 Index Fund 0.52%.
Which has the lower expense ratio, AlphaGrep Flexi Cap Fund or Navi Nifty Midsmallcap 400 Index Fund?
Navi Nifty Midsmallcap 400 Index Fund charges less: 0.52% a year against 2.80%. These are the Direct plans' total expense ratios reported to AMFI.
How much do AlphaGrep Flexi Cap Fund and Navi Nifty Midsmallcap 400 Index Fund overlap?
23.7%. They hold 115 of the same securities, the largest shared ones being DIXON, LUPIN, AUBANK. From each fund's latest monthly portfolio.
Which is riskier, AlphaGrep Flexi Cap Fund or Navi Nifty Midsmallcap 400 Index Fund?
On SEBI's riskometer, AlphaGrep Flexi Cap Fund is rated Very High and Navi Nifty Midsmallcap 400 Index Fund Very High. Over their common history, the standard deviation of daily returns was 11.03% and 17.20% a year.
Can I invest in both AlphaGrep Flexi Cap Fund and Navi Nifty Midsmallcap 400 Index Fund?
Yes. 23.7% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages AlphaGrep Flexi Cap Fund and Navi Nifty Midsmallcap 400 Index Fund?
AlphaGrep Flexi Cap Fund: Ravneet Singh. Navi Nifty Midsmallcap 400 Index Fund: Ashutosh Shirwaikar.
Sources: NAV and expense ratio from AMFI. Holdings from each fund house's monthly portfolio statement. Fund facts from each scheme summary document.
This page is information, not investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Past returns do not promise future returns. Figures come from AMFI, NSE, BSE and each fund house's own documents.