AlphaGrep Flexi Cap Fund vs Nippon India Nifty 500 Equal Weight Index Fund
Direct Plan, Growth option · Data as on 30-10-2026
AlphaGrep Flexi Cap Fund is a Flexi Cap fund and Nippon India Nifty 500 Equal Weight Index Fund is a mutual fund. AlphaGrep Flexi Cap Fund charges 2.80% a year and Nippon India Nifty 500 Equal Weight Index Fund 0.55% (Direct plans). Their portfolios overlap 27.3%: they hold 144 of the same securities.
Nippon India Nifty 500 Equal Weight Index Fund
- Expense ratio
- 0.55%
- NAV
- ₹8.99
Which is better, AlphaGrep Flexi Cap or Nippon India Nifty 500 Equal Weight Index? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Nippon India Nifty 500 Equal Weight Index costs less: 0.55% a year against 2.80% (Direct plans).
- AlphaGrep Flexi Cap fell less in its worst fall since 13-08-2026: −7.6% against −11.9%.
- Nippon India Nifty 500 Equal Weight Index is the larger fund: ₹450 Cr against ₹80 Cr.
- Their portfolios overlap 27.3%: 144 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 | Nippon India Nifty 500 Equal Weight Index Fund |
|---|---|---|
| Fund house | AlphaGrep Mutual Fund | Nippon India Mutual Fund |
| Category | Flexi Cap | Not available |
| AUM | ₹80 Cr (30-09-2026) | ₹450 Cr (30-09-2026) |
| NAV | ₹9.59 (Direct) | ₹8.99 (Direct) |
| Expense ratio (Direct) | 2.80% | 0.55% |
| Expense ratio (Regular) | 4.66% | 1.13% |
| Riskometer | Very High | Not available |
| Benchmark | Nifty 500 TRI | Not available |
| Launch date | 11-08-2026 | Not available |
| Minimum investment | ₹500 | Not available |
| Lock in | None | Not available |
| Fund managers | Ravneet Singh | Not available |
| Exit load | Exit load of 1%, if redeemed within 15 Days. | Not available |
AlphaGrep Flexi Cap vs Nippon India Nifty 500 Equal Weight 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% | -- | -- | -- | -- | -- | -- |
| Nippon India Nifty 500 Equal Weight Index Fund (Direct) | −5.15% | −8.61% | −3.99% | −7.19% | -- | -- | -- |
| Flexi Cap average | −1.62% | -- | -- | -- | -- | -- | -- |
Category average: the average of the 46 Flexi Cap funds, same plan type.
AlphaGrep Flexi Cap vs Nippon India Nifty 500 Equal Weight Index: Year-wise Returns
| Year | AlphaGrep Flexi CapAlphaGrep Flexi Cap | Nippon India Nifty 500 Equal Weight IndexNippon India Nifty 500 Equal Weight Index |
|---|---|---|
| 2026to date | -- | −4.68% |
| 2025 | -- | +0.45% |
AlphaGrep Flexi Cap vs Nippon India Nifty 500 Equal Weight Index: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of AlphaGrep Flexi Cap Fund
AlphaGrep Flexi Cap vs Nippon India Nifty 500 Equal Weight 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) | Nippon India Nifty 500 Equal Weight Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | −22.07% | −4.56% |
| Standard deviation | 11.03% | 17.11% |
| Sharpe ratio | -2.48 | -0.60 |
| Sortino ratio | -2.84 | -0.79 |
| Maximum drawdown | −7.6% (23-10-2026) | −23.9% (03-03-2025) |
| Beta | 0.83 | 1.00 |
| Alpha | +1.93% | −0.53% |
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)
Nippon India Nifty 500 Equal Weight 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% |
| Nippon India Nifty 500 Equal Weight Index Fund (Direct) | −11.9% | 13-08-2026 | 23-10-2026 | Not yet | -- | −10.5% |
| 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 Nippon India Nifty 500 Equal Weight Index: Portfolio Overlap
From each fund's latest monthly portfolio: AlphaGrep Flexi Cap Fund, September 2026; Nippon India Nifty 500 Equal Weight Index Fund, September 2026
Holdings in common
- Overlap
- 27.3%
- Held by both
- 144
- Only in AlphaGrep Flexi Cap
- 19
- Only in Nippon India Nifty 500 Equal Weight Index
- 356
| Security | % of AlphaGrep Flexi Cap | % of Nippon India Nifty 500 Equal Weight Index |
|---|---|---|
| Sun TV Network Ltd. | 1.26% | 0.24% |
| Kirloskar Oil Engines Ltd. | 1.50% | 0.22% |
| TD Power Systems Ltd. | 1.18% | 0.21% |
| Indraprastha Gas Ltd. | 1.05% | 0.21% |
| Dr. Reddy's Laboratories Ltd. | 1.03% | 0.21% |
| Endurance Technologies Ltd. | 0.69% | 0.21% |
| Tata Technologies Ltd. | 0.59% | 0.21% |
| Elecon Engineering Company Ltd. | 0.58% | 0.21% |
| Lloyds Metals And Energy Ltd. | 0.49% | 0.21% |
| KSB Ltd. | 0.41% | 0.21% |
| PTC Industries Ltd. | 0.38% | 0.21% |
| Minda Corporation Ltd. | 0.31% | 0.21% |
| City Union Bank Ltd. | 0.27% | 0.21% |
| Kajaria Ceramics Ltd. | 0.21% | 0.21% |
| CIE Automotive India Ltd. | 1.95% | 0.20% |
| Bharat Electronics Ltd. | 1.58% | 0.20% |
| Dixon Technologies (India) Ltd. | 1.46% | 0.20% |
| BEML Ltd. | 1.34% | 0.20% |
| NTPC Ltd. | 1.24% | 0.20% |
| Sun Pharmaceutical Industries Ltd. | 1.20% | 0.20% |
| Premier Energies Ltd | 1.18% | 0.20% |
| JSW Steel Ltd. | 1.16% | 0.20% |
| AnandRathi Wealth Ltd. | 1.15% | 0.20% |
| Karur Vysya Bank Ltd. | 1.10% | 0.20% |
| Mahanagar Gas Ltd. | 1.01% | 0.20% |
| ZF Commercial Vehicle Control Systems India Ltd. | 1.01% | 0.20% |
| Tata Consumer Products Ltd. | 0.99% | 0.20% |
| Lupin Ltd. | 0.97% | 0.20% |
| IRB Infrastructure Developers Ltd. | 0.96% | 0.20% |
| Larsen & Toubro Ltd. | 0.95% | 0.20% |
| Hyundai Motor India Ltd. | 0.92% | 0.20% |
| Poonawalla Fincorp Ltd. | 0.90% | 0.20% |
| Balkrishna Industries Ltd. | 0.88% | 0.20% |
| Hitachi Energy India Ltd. | 0.86% | 0.20% |
| PVR Inox Ltd. | 0.85% | 0.20% |
| Motherson Sumi Wiring India Ltd. | 0.85% | 0.20% |
| NTPC Green Energy Ltd. | 0.83% | 0.20% |
| Pidilite Industries Ltd. | 0.82% | 0.20% |
| Mahindra & Mahindra Ltd. | 0.81% | 0.20% |
| Aditya Birla Sun Life Amc Ltd. | 0.79% | 0.20% |
| AU Small Finance Bank Ltd. | 0.77% | 0.20% |
| CG Power and Industrial Solutions Ltd. | 0.77% | 0.20% |
| Gujarat Fluorochemicals Ltd. | 0.74% | 0.20% |
| Ola Electric Mobility Ltd. | 0.71% | 0.20% |
| DLF Ltd. | 0.67% | 0.20% |
| Titagarh Rail Systems Ltd. | 0.67% | 0.20% |
| Grasim Industries Ltd. | 0.62% | 0.20% |
| Coal India Ltd. | 0.61% | 0.20% |
| Engineers India Ltd. | 0.59% | 0.20% |
| 360 ONE WAM Ltd. | 0.58% | 0.20% |
| Triveni Turbine Ltd. | 0.57% | 0.20% |
| AFFLE 3I Ltd. | 0.56% | 0.20% |
| Steel Authority of India Ltd. | 0.55% | 0.20% |
| Aditya Birla Capital Ltd. | 0.54% | 0.20% |
| HDFC Asset Management Co. Ltd. | 0.53% | 0.20% |
| Cholamandalam Financial Holdings Ltd. | 0.51% | 0.20% |
| TBO Tek Ltd. | 0.51% | 0.20% |
| Sundaram Finance Ltd. | 0.48% | 0.20% |
| Ultratech Cement Ltd. | 0.48% | 0.20% |
| Blue Star Ltd. | 0.47% | 0.20% |
| Syngene International Ltd. | 0.47% | 0.20% |
| The Ramco Cements Ltd. | 0.47% | 0.20% |
| NLC India Ltd. | 0.46% | 0.20% |
| Jindal Stainless Ltd. | 0.43% | 0.20% |
| Emami Ltd. | 0.42% | 0.20% |
| AWL Agri Business Ltd. | 0.41% | 0.20% |
| Tenneco Clean Air India Ltd. | 0.41% | 0.20% |
| Castrol India Ltd. | 0.40% | 0.20% |
| Can Fin Homes Ltd. | 0.38% | 0.20% |
| Aadhar Housing Finance Ltd. | 0.38% | 0.20% |
| HBL Engineering Ltd. | 0.38% | 0.20% |
| Gland Pharma Ltd. | 0.37% | 0.20% |
| Indian Overseas Bank | 0.35% | 0.20% |
| Info Edge (India) Ltd. | 0.34% | 0.20% |
| Indian Renewable Energy Development Agency Ltd. | 0.33% | 0.20% |
| Samvardhana Motherson International Ltd. | 0.33% | 0.20% |
| Lodha Developers Ltd. | 0.33% | 0.20% |
| Laurus Labs Ltd. | 0.32% | 0.20% |
| Redington Ltd. | 0.32% | 0.20% |
| Kaynes Technology India Ltd. | 0.31% | 0.20% |
| Narayana Hrudayalaya Ltd. | 0.31% | 0.20% |
| Hero MotoCorp Ltd. | 0.30% | 0.20% |
| Jubilant Ingrevia Ltd. | 0.29% | 0.20% |
| NMDC Steel Ltd. | 0.28% | 0.20% |
| Adani Green Energy Ltd. | 0.28% | 0.20% |
| PI Industries Ltd. | 0.27% | 0.20% |
| The Federal Bank Ltd. | 0.27% | 0.20% |
| Tata Communications Ltd. | 0.27% | 0.20% |
| Capri Global Capital Ltd. | 0.26% | 0.20% |
| Timken India Ltd. | 0.26% | 0.20% |
| Bharat Forge Ltd. | 0.26% | 0.20% |
| Jyoti CNC Automation Ltd. | 0.26% | 0.20% |
| GE Vernova T&D India Ltd. | 0.26% | 0.20% |
| Vedanta Aluminium Metal Ltd. | 0.25% | 0.20% |
| Indus Towers Ltd. | 0.24% | 0.20% |
| Siemens Energy India Ltd. | 0.24% | 0.20% |
| HDFC Life Insurance Company Ltd. | 0.23% | 0.20% |
| RBL Bank Ltd. | 0.23% | 0.20% |
| Asian Paints Ltd. | 0.23% | 0.20% |
| Sumitomo Chemical India Ltd. | 0.22% | 0.20% |
| KEI Industries Ltd. | 0.21% | 0.20% |
| Indian Oil Corporation Ltd. | 0.21% | 0.20% |
| Delhivery Ltd. | 0.21% | 0.20% |
| Ramkrishna Forgings Ltd. | 0.20% | 0.20% |
| Page Industries Ltd. | 0.20% | 0.20% |
| Sai Life Sciences Ltd. | 0.19% | 0.20% |
| Aster DM Quality Care Ltd. | 0.78% | 0.19% |
| Honasa Consumer Ltd. | 0.61% | 0.19% |
| Havells India Ltd. | 0.46% | 0.19% |
| National Aluminium Company Ltd. | 0.39% | 0.19% |
| Concord Biotech Ltd. | 0.37% | 0.19% |
| Swiggy Ltd. | 0.37% | 0.19% |
| LT Foods Ltd. | 0.29% | 0.19% |
| KEC International Ltd. | 0.26% | 0.19% |
| United Spirits Ltd. | 0.26% | 0.19% |
| Jubilant Foodworks Ltd. | 0.24% | 0.19% |
| Max Financial Services Ltd. | 0.24% | 0.19% |
| Fortis Healthcare Ltd. | 0.21% | 0.19% |
| Deepak Nitrite Ltd. | 0.19% | 0.20% |
| Petronet LNG Ltd. | 0.19% | 0.20% |
| Aurobindo Pharma Ltd. | 0.18% | 0.20% |
| Anupam Rasayan India Ltd. | 0.18% | 0.20% |
| Bharat Heavy Electricals Ltd. | 0.18% | 0.20% |
| Intellect Design Arena Ltd. | 0.17% | 0.20% |
| Nuvoco Vistas Corporation Ltd. | 0.17% | 0.21% |
| Sagility Ltd. | 0.17% | 0.20% |
| Punjab National Bank | 0.16% | 0.20% |
| UPL Ltd. | 0.16% | 0.20% |
| Bharti Airtel Ltd. | 0.15% | 0.20% |
| Zen Technologies Ltd. | 0.15% | 0.20% |
| UCO Bank | 0.14% | 0.20% |
| Bharat Petroleum Corporation Ltd. | 0.14% | 0.20% |
| Dabur India Ltd. | 0.13% | 0.20% |
| Trident Ltd. | 0.13% | 0.20% |
| UNO Minda Ltd. | 0.13% | 0.20% |
| Schaeffler India Ltd. | 0.13% | 0.20% |
| Honeywell Automation India Ltd. | 0.12% | 0.20% |
| Bharti Hexacom Ltd. | 0.12% | 0.20% |
| Syrma SGS Technology Ltd. | 0.12% | 0.21% |
| Eicher Motors Ltd. | 0.12% | 0.20% |
| LIC Housing Finance Ltd. | 0.11% | 0.19% |
| Prestige Estates Projects Ltd. | 0.11% | 0.21% |
| Sterlite Technologies Ltd. | 0.89% | 0.02% |
| Afcons Infrastructure Ltd. | 0.01% | 0.20% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 27.3% means 27.3% 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% |
| Niva Bupa Health Insurance Company Ltd. | 1.41% |
| Century Plyboards (India) Ltd. | 1.13% |
| Shadowfax Technologies Ltd. | 0.85% |
Largest holdings only in Nippon India Nifty 500 Equal Weight Index Fund
| Security | % of fund |
|---|---|
| Cupid Limited | 0.24% |
| IRCON International Limited | 0.23% |
| Azad Engineering Ltd | 0.22% |
| HFCL Limited | 0.22% |
| Acutaas Chemicals Limited | 0.21% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | AlphaGrep Flexi Cap | Nippon India Nifty 500 Equal Weight Index |
|---|---|---|
| Equity | 81.5% | 99.0% |
| Debt | 1.8% | 0.0% |
| Cash and others | 16.8% | 1.0% |
Market cap of stocks
| Market cap | AlphaGrep Flexi Cap | Nippon India Nifty 500 Equal Weight Index |
|---|---|---|
| Large Cap | 16.7% | 20.0% |
| Mid Cap | 21.7% | 28.7% |
| Small Cap | 41.8% | 49.9% |
| Not on AMFI's list | 1.2% | 0.4% |
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 | Nippon India Nifty 500 Equal Weight Index |
|---|---|---|
| Finance | 4.2% | 8.3% |
| Auto Components | 7.6% | 5.6% |
| Pharmaceuticals & Biotechnology | 6.1% | 6.4% |
| Electrical Equipment | 5.8% | 4.0% |
| Industrial Products | 3.5% | 5.3% |
| Banks | 3.3% | 5.2% |
| Consumer Durables | 4.8% | 3.2% |
The six largest sectors of each fund's stocks, % of the fund.
AlphaGrep Flexi Cap vs Nippon India Nifty 500 Equal Weight Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | AlphaGrep Flexi Cap Fund | Nippon India Nifty 500 Equal Weight Index Fund |
|---|---|---|
| Total expense ratio (Direct) | 2.80% | 0.55% |
| Base expense ratio (Direct) | 0.50% | 0.30% |
| Total expense ratio (Regular) | 4.66% | 1.13% |
| Base expense ratio (Regular) | 2.08% | 0.79% |
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 Nippon India Nifty 500 Equal Weight Index Fund: Frequently Asked Questions
What is the difference between AlphaGrep Flexi Cap Fund and Nippon India Nifty 500 Equal Weight Index Fund?
AlphaGrep Flexi Cap Fund is a Flexi Cap fund, Nippon India Nifty 500 Equal Weight Index Fund is a mutual fund, run by AlphaGrep Mutual Fund and Nippon India Mutual Fund. Their portfolios overlap 27.3%. AlphaGrep Flexi Cap Fund charges 2.80% a year and Nippon India Nifty 500 Equal Weight Index Fund 0.55%.
Which has the lower expense ratio, AlphaGrep Flexi Cap Fund or Nippon India Nifty 500 Equal Weight Index Fund?
Nippon India Nifty 500 Equal Weight Index Fund charges less: 0.55% a year against 2.80%. These are the Direct plans' total expense ratios reported to AMFI.
How much do AlphaGrep Flexi Cap Fund and Nippon India Nifty 500 Equal Weight Index Fund overlap?
27.3%. They hold 144 of the same securities, the largest shared ones being SUNTV, KIRLOSENG, TDPOWERSYS. From each fund's latest monthly portfolio.
Can I invest in both AlphaGrep Flexi Cap Fund and Nippon India Nifty 500 Equal Weight Index Fund?
Yes. 27.3% of each fund's money sits in the same holdings, so some of the two investments would move together.
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.