AlphaGrep Multi Asset Allocation Fund vs Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund
Direct Plan, Growth option · Data as on 30-10-2026
AlphaGrep Multi Asset Allocation Fund is a Multi Asset fund and Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund is an Index fund. AlphaGrep Multi Asset Allocation Fund charges 1.38% a year and Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund 0.36% (Direct plans). Their portfolios overlap 22.5%: they hold 77 of the same securities.
AlphaGrep Multi Asset Allocation Fund
Multi Asset
- Expense ratio
- 1.38%
- NAV
- ₹10.13
Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund
Index
- Expense ratio
- 0.36%
- NAV
- ₹13.49
Which is better, AlphaGrep Multi Asset Allocation or Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index costs less: 0.36% a year against 1.38% (Direct plans).
- AlphaGrep Multi Asset Allocation fell less in its worst fall since 27-07-2026: −4.0% against −10.5%.
- Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index holds more in large companies: 52.0% of the fund in large caps against 11.5%.
- Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index is the larger fund: ₹280 Cr against ₹116 Cr.
- Their portfolios overlap 22.5%: 77 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 Multi Asset Allocation Fund | Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund |
|---|---|---|
| Fund house | AlphaGrep Mutual Fund | Zerodha Mutual Fund |
| Category | Multi Asset | Index |
| AUM | ₹116 Cr (30-09-2026) | ₹280 Cr (30-09-2026) |
| NAV | ₹10.13 (Direct) | ₹13.49 (Direct) |
| Expense ratio (Direct) | 1.38% | 0.36% |
| Expense ratio (Regular) | 3.19% | Not available |
| Riskometer | High | Very High |
| Benchmark | 45% NIFTY Composite Debt Index + 35% NIFTY 200 TRI + 20% MCX iCOMDEX Composite Index | Nifty LargeMidcap 250 TRI |
| Launch date | 24-07-2026 | 08-11-2023 |
| Minimum investment | ₹500 | ₹500 |
| Lock in | None | None |
| Fund managers | Ravneet Singh, Ashish Jain | Kedarnath Mirajkar |
| Exit load | Exit load of 1%, if redeemed within 15 days. | Nil |
AlphaGrep Multi Asset Allocation vs Zerodha ELSS Tax Saver Nifty LargeMidcap 250 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 Multi Asset Allocation Fund (Direct) | −0.93% | +0.89% | -- | -- | -- | -- | -- |
| Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund (Direct) | −1.30% | −6.82% | −3.24% | −6.16% | -- | -- | -- |
| Multi Asset average | −1.71% | −3.33% | -- | -- | -- | -- | -- |
Category average: the average of the 37 Multi Asset funds, same plan type.
AlphaGrep Multi Asset Allocation vs Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index: Year-wise Returns
| Year | AlphaGrep Multi Asset AllocationAlphaGrep Multi Asset Allocation | Zerodha ELSS Tax Saver Nifty LargeMidcap 250 IndexZerodha ELSS Tax Saver Nifty LargeMidcap 250 Index |
|---|---|---|
| 2026to date | -- | −6.81% |
| 2025 | -- | +8.44% |
| 2024 | -- | +18.59% |
AlphaGrep Multi Asset Allocation vs Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index: Rolling Returns
Every holding period of both funds, against NIFTY LargeMidcap 250 TRI, the benchmark of Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund
AlphaGrep Multi Asset Allocation vs Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | AlphaGrep Multi Asset Allocation Fund (Direct) | Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +4.50% | +10.56% |
| Standard deviation | 6.79% | 14.89% |
| Sharpe ratio | -0.11 | 0.31 |
| Sortino ratio | -0.15 | 0.41 |
| Maximum drawdown | −4.0% (23-10-2026) | −18.7% (28-02-2025) |
| Beta | -- | 1.00 |
| Alpha | -- | +0.12% |
From daily NAVs, 27-07-2026 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 Multi Asset Allocation Fund (Direct)
Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund (Direct)
NIFTY LargeMidcap 250 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| AlphaGrep Multi Asset Allocation Fund (Direct) | −4.0% | 25-08-2026 | 23-10-2026 | Not yet | -- | −2.8% |
| Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund (Direct) | −10.5% | 03-08-2026 | 23-10-2026 | Not yet | -- | −8.6% |
| NIFTY LargeMidcap 250 TRI | −10.6% | 03-08-2026 | 23-10-2026 | Not yet | -- | −8.6% |
From daily values since 27-07-2026, the first day every fund has.
AlphaGrep Multi Asset Allocation vs Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index: Portfolio Overlap
From each fund's latest monthly portfolio: AlphaGrep Multi Asset Allocation Fund, September 2026; Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund, September 2026
Holdings in common
- Overlap
- 22.5%
- Held by both
- 77
- Only in AlphaGrep Multi Asset Allocation
- 18
- Only in Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index
- 173
| Security | % of AlphaGrep Multi Asset Allocation | % of Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index |
|---|---|---|
| Bharti Airtel Ltd. | 0.78% | 2.08% |
| Laurus Labs Ltd. | 0.70% | 0.95% |
| Dixon Technologies (India) Ltd. | 0.80% | 0.67% |
| Bharat Forge Ltd. | 0.71% | 0.66% |
| Hero MotoCorp Ltd. | 0.61% | 0.84% |
| NTPC Ltd. | 0.81% | 0.59% |
| IndusInd Bank Ltd. | 0.58% | 0.73% |
| Aurobindo Pharma Ltd. | 0.52% | 0.57% |
| FSN E-Commerce Ventures Ltd. | 0.51% | 0.54% |
| Larsen & Toubro Ltd. | 0.50% | 1.71% |
| Embassy Office Parks Reit | 1.33% | 0.47% |
| JSW Steel Ltd. | 0.68% | 0.47% |
| Bharat Heavy Electricals Ltd. | 0.46% | 0.75% |
| Grasim Industries Ltd. | 0.45% | 0.45% |
| Mahindra & Mahindra Ltd. | 0.45% | 1.02% |
| Lodha Developers Ltd. | 0.80% | 0.41% |
| Aditya Birla Capital Ltd. | 0.62% | 0.40% |
| Sun Pharmaceutical Industries Ltd. | 0.39% | 0.75% |
| National Aluminium Company Ltd. | 0.89% | 0.38% |
| Bharat Electronics Ltd. | 0.35% | 0.54% |
| Multi Commodity Exchange of India Ltd. | 0.34% | 1.04% |
| KEI Industries Ltd. | 0.66% | 0.34% |
| Lupin Ltd. | 0.33% | 0.61% |
| 360 ONE WAM Ltd. | 0.53% | 0.33% |
| Info Edge (India) Ltd. | 0.32% | 0.58% |
| Steel Authority of India Ltd. | 0.78% | 0.32% |
| Coal India Ltd. | 0.31% | 0.39% |
| Prestige Estates Projects Ltd. | 0.46% | 0.31% |
| Havells India Ltd. | 0.31% | 0.31% |
| Indian Bank | 0.30% | 0.35% |
| Dr. Reddy's Laboratories Ltd. | 0.65% | 0.29% |
| L&T Finance Ltd. | 0.83% | 0.28% |
| Samvardhana Motherson International Ltd. | 0.67% | 0.28% |
| Page Industries Ltd. | 0.34% | 0.28% |
| Cholamandalam Investment & Finance Co. Ltd. | 0.32% | 0.27% |
| Petronet LNG Ltd. | 0.58% | 0.26% |
| UNO Minda Ltd. | 0.31% | 0.26% |
| REC Ltd. | 0.26% | 0.46% |
| Alkem Laboratories Ltd. | 0.26% | 0.38% |
| Nippon Life India Asset Management Ltd. | 0.61% | 0.24% |
| Blue Star Ltd. | 0.49% | 0.24% |
| Tata Consumer Products Ltd. | 0.48% | 0.24% |
| The Federal Bank Ltd. | 0.24% | 0.97% |
| AU Small Finance Bank Ltd. | 0.22% | 0.72% |
| Jubilant Foodworks Ltd. | 0.33% | 0.22% |
| Cipla Ltd. | 0.22% | 0.29% |
| PB Fintech Ltd. | 0.22% | 0.46% |
| Astral Ltd. | 0.57% | 0.21% |
| LIC Housing Finance Ltd. | 0.50% | 0.20% |
| Indian Oil Corporation Ltd. | 0.36% | 0.20% |
| Trent Ltd. | 0.20% | 0.34% |
| Bank of India | 0.31% | 0.19% |
| Container Corporation of India Ltd. | 0.23% | 0.19% |
| Asian Paints Ltd. | 0.19% | 0.42% |
| Britannia Industries Ltd. | 0.18% | 0.22% |
| Dabur India Ltd. | 0.18% | 0.28% |
| HDFC Asset Management Co. Ltd. | 0.35% | 0.18% |
| Pidilite Industries Ltd. | 0.34% | 0.18% |
| Oracle Financial Services Software Ltd. | 0.18% | 0.31% |
| UPL Ltd. | 0.17% | 0.37% |
| Bharat Petroleum Corporation Ltd. | 0.17% | 0.24% |
| DLF Ltd. | 0.22% | 0.17% |
| Torrent Pharmaceuticals Ltd. | 0.17% | 0.27% |
| Premier Energies Ltd | 0.53% | 0.16% |
| SBI Cards & Payment Services Ltd. | 0.16% | 0.21% |
| Hitachi Energy India Ltd. | 0.76% | 0.15% |
| Oil & Natural Gas Corporation Ltd. | 0.15% | 0.34% |
| Tata Power Company Ltd. | 0.12% | 0.23% |
| Indus Towers Ltd. | 0.12% | 0.59% |
| CG Power and Industrial Solutions Ltd. | 0.12% | 0.23% |
| Bajaj Holdings & Investment Ltd. | 0.12% | 0.18% |
| Hyundai Motor India Ltd. | 0.45% | 0.11% |
| Indian Renewable Energy Development Agency Ltd. | 0.35% | 0.11% |
| Hindustan Zinc Ltd. | 0.11% | 0.11% |
| Fortis Healthcare Ltd. | 0.10% | 0.49% |
| Bajaj Auto Ltd. | 0.10% | 0.46% |
| Punjab National Bank | 0.10% | 0.15% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 22.5% means 22.5% 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 Multi Asset Allocation Fund
| Security | % of fund |
|---|---|
| 182 DAY T-BILL 28.01.27 | 8.44% |
| DSP Mutual Fund - DSP Gold ETF | 4.79% |
| 9.22% Nuvama Wealth Finance Ltd. (20/11/2028) | 3.44% |
| 9.15% 360 One Prime Ltd. (19/06/2029) | 3.43% |
| 91 DAY T-BILL 24.12.26 | 2.97% |
Largest holdings only in Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund
| Security | % of fund |
|---|---|
| HDFC Bank Limited | 4.22% |
| ICICI Bank Limited | 3.68% |
| Reliance Industries Limited | 3.08% |
| State Bank of India | 1.54% |
| Axis Bank Limited | 1.37% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | AlphaGrep Multi Asset Allocation | Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index |
|---|---|---|
| Equity | 33.0% | 99.6% |
| Debt | 19.1% | 0.0% |
| Cash and others | 47.9% | 0.4% |
Market cap of stocks
| Market cap | AlphaGrep Multi Asset Allocation | Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index |
|---|---|---|
| Large Cap | 11.5% | 52.0% |
| Mid Cap | 18.3% | 46.3% |
| Small Cap | 2.6% | 1.3% |
| Foreign stocks | 0.6% | 0.0% |
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 Multi Asset Allocation | Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index |
|---|---|---|
| Banks | 2.4% | 16.9% |
| Pharmaceuticals & Biotechnology | 3.2% | 6.7% |
| Finance | 3.5% | 6.5% |
| IT - Software | 0.2% | 5.6% |
| Retailing | 1.0% | 4.3% |
| Automobiles | 1.6% | 4.0% |
| Electrical Equipment | 1.9% | 3.7% |
| Consumer Durables | 1.8% | 3.3% |
| Capital Markets | 2.2% | 3.0% |
The six largest sectors of each fund's stocks, % of the fund.
AlphaGrep Multi Asset Allocation vs Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | AlphaGrep Multi Asset Allocation Fund | Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.38% | 0.36% |
| Base expense ratio (Direct) | 0.31% | 0.25% |
| Total expense ratio (Regular) | 3.19% | Not available |
| Base expense ratio (Regular) | 1.84% | 0.00% |
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
Compare AlphaGrep Multi Asset Allocation with
- AlphaGrep Multi Asset Allocation vs Quant Multi Asset Allocation
- AlphaGrep Multi Asset Allocation vs Nippon India Multi Asset Allocation
- AlphaGrep Multi Asset Allocation vs DSP Multi Asset Allocation
- AlphaGrep Multi Asset Allocation vs Kotak Multi Asset Allocation
- AlphaGrep Multi Asset Allocation vs WhiteOak Capital Multi Asset Allocation
AlphaGrep Multi Asset Allocation Fund vs Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund: Frequently Asked Questions
What is the difference between AlphaGrep Multi Asset Allocation Fund and Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund?
AlphaGrep Multi Asset Allocation Fund is a Multi Asset fund, Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund is an Index fund, run by AlphaGrep Mutual Fund and Zerodha Mutual Fund. Their portfolios overlap 22.5%. AlphaGrep Multi Asset Allocation Fund charges 1.38% a year and Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund 0.36%.
Which has the lower expense ratio, AlphaGrep Multi Asset Allocation Fund or Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund?
Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund charges less: 0.36% a year against 1.38%. These are the Direct plans' total expense ratios reported to AMFI.
How much do AlphaGrep Multi Asset Allocation Fund and Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund overlap?
22.5%. They hold 77 of the same securities, the largest shared ones being BHARTIARTL, LAURUSLABS, DIXON. From each fund's latest monthly portfolio.
Which is riskier, AlphaGrep Multi Asset Allocation Fund or Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund?
On SEBI's riskometer, AlphaGrep Multi Asset Allocation Fund is rated High and Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund Very High. Over their common history, the standard deviation of daily returns was 6.79% and 14.89% a year.
Can I invest in both AlphaGrep Multi Asset Allocation Fund and Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund?
Yes. 22.5% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages AlphaGrep Multi Asset Allocation Fund and Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund?
AlphaGrep Multi Asset Allocation Fund: Ravneet Singh, Ashish Jain. Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund: Kedarnath Mirajkar.
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.