Bajaj Finserv Overnight Fund vs Zerodha Overnight Fund
Direct Plan, Growth option · Data as on 30-10-2026
Bajaj Finserv Overnight Fund and Zerodha Overnight Fund are both Overnight funds. In the year to 30-10-2026, Bajaj Finserv Overnight Fund (Direct) returned 5.3% and Zerodha Overnight Fund (Direct) returned 5.1%. Bajaj Finserv Overnight Fund charges 0.11% a year and Zerodha Overnight Fund 0.13% (Direct plans). Their portfolios overlap 1.0%: they hold 1 of the same security.
Bajaj Finserv Overnight Fund
Overnight
- 1 year return
- 5.3%
- Expense ratio
- 0.11%
- NAV
- ₹1,217.99
Zerodha Overnight Fund
Overnight
- 1 year return
- 5.1%
- Expense ratio
- 0.13%
- NAV
- ₹10.85
Which is better, Bajaj Finserv Overnight or Zerodha Overnight? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Bajaj Finserv Overnight returned more over 1 year: 5.3% against 5.1%.
- Bajaj Finserv Overnight costs less: 0.11% a year against 0.13% (Direct plans).
- Bajaj Finserv Overnight is the larger fund: ₹792 Cr against ₹99 Cr.
- Their portfolios overlap 1.0%: 1 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 | Bajaj Finserv Overnight Fund | Zerodha Overnight Fund |
|---|---|---|
| Fund house | Bajaj Finserv Mutual Fund | Zerodha Mutual Fund |
| Category | Overnight | Overnight |
| AUM | ₹792 Cr (30-09-2026) | ₹99 Cr (30-09-2026) |
| NAV | ₹1,217.99 (Direct) | ₹10.85 (Direct) |
| Expense ratio (Direct) | 0.11% | 0.13% |
| Expense ratio (Regular) | 0.16% | Not available |
| Riskometer | Low | Low |
| Benchmark | CRISIL Liquid Overnight Index | Nifty 1D Rate Index |
| Launch date | 05-07-2023 | 04-04-2025 |
| Minimum investment | ₹100 | ₹100 |
| Lock in | None | None |
| Fund managers | Nimesh Chandan, Siddharth Chaudhary, Chirag Shah, Sourish Chatterjee | Kedarnath Mirajkar |
| Exit load | Nil | Nil |
Bajaj Finserv Overnight vs Zerodha Overnight: 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 |
|---|---|---|---|---|---|---|---|
| Bajaj Finserv Overnight Fund (Direct) | +0.47% | +1.33% | +2.64% | +5.34% | +6.05% | -- | -- |
| Zerodha Overnight Fund (Direct) | +0.44% | +1.27% | +2.55% | +5.13% | -- | -- | -- |
| Overnight average | +0.45% | +1.28% | +2.59% | +5.22% | -- | -- | -- |
Category average: the average of the 40 Overnight funds, same plan type.
Bajaj Finserv Overnight vs Zerodha Overnight: Year-wise Returns
| Year | Bajaj FinservBajaj Finserv Overnight | ZerodhaZerodha Overnight |
|---|---|---|
| 2026to date | +4.37% | +4.22% |
| 2025 | +5.86% | -- |
| 2024 | +6.72% | -- |
Bajaj Finserv Overnight vs Zerodha Overnight: Rolling Returns
Every holding period of both funds, against Nifty 1D Rate Index TRI, the benchmark of Zerodha Overnight Fund
Rolling returns
Every 1-year holding period, 200 of them, one for each trading day from 09-04-2026 to 30-10-2026: the yearly return (CAGR) of each, plotted on the day it ended. One lucky or unlucky start day cannot flatter or hide a fund.
Bajaj Finserv Overnight Fund (Direct)
Zerodha Overnight Fund (Direct)
Nifty 1D Rate Index TRI
to
Apr 2026May 2025
to
May 2026Jul 2025
to
Jul 2026Aug 2025
to
Aug 2026Sept 2025
to
Sept 2026Oct 2025
to
Oct 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Bajaj Finserv Overnight | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 5.4% | 5.4% | 5.3% | 5.5% | 100% |
| Zerodha Overnight | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 5.2% | 5.2% | 5.1% | 5.3% | 0% |
| Nifty 1D Rate Index TRI | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 5.3% | 5.3% | 5.2% | 5.5% | -- |
The table shows the % of periods in each return band; a darker cell holds more of them. Lumpsum: the yearly rate (CAGR) from a period's first NAV to its last. SIP: the XIRR of the monthly instalments. The benchmark is Nifty 1D Rate Index TRI, over the same periods. "Beat benchmark" counts the periods in which the fund did better. Every fund is measured over the days all of them have, from 09-04-2025. Past returns do not promise future returns.
Bajaj Finserv Overnight vs Zerodha Overnight: SIP and Lumpsum Returns
What the same monthly or one-time investment would be worth in each fund today, from their own NAV history
Growth of an investment
₹10,000 on the first trading day of every month, from 01-04-2025 to 30-10-2026: 19 instalments, ₹1,90,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Bajaj Finserv OvernightBajaj Finserv Overnight Fund (Direct) | ₹1,90,000 | ₹1,98,481 | ₹8,481 | 5.4% |
| Zerodha OvernightZerodha Overnight Fund (Direct) | ₹1,90,000 | ₹1,98,155 | ₹8,155 | 5.2% |
Bajaj Finserv OvernightBajaj Finserv Overnight Fund (Direct)
Zerodha OvernightZerodha Overnight Fund (Direct)
Amount invested
From each plan's published NAV (Growth option), over the same days. Return a year: XIRR for a SIP, CAGR for a lumpsum, shown for a year or more. It does not include exit load, stamp duty or tax. Past returns do not promise future returns.
Bajaj Finserv Overnight vs Zerodha Overnight: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Bajaj Finserv Overnight Fund (Direct) | Zerodha Overnight Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.34% | +5.13% |
| Standard deviation | 0.04% | 0.05% |
| Sharpe ratio | 2.20 | -2.17 |
| Sortino ratio | 9.40 | -5.62 |
| Maximum drawdown | 0.0% | 0.0% |
| Beta | -- | 0.99 |
| Alpha | -- | −0.12% |
From daily NAVs, 30-10-2025 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.
| Measure | Bajaj Finserv Overnight Fund (Direct) | Zerodha Overnight Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.11% | +5.25% |
| Standard deviation | 0.04% | 0.09% |
| Sharpe ratio | 0.30 | -1.36 |
| Sortino ratio | 0.46 | -3.64 |
| Maximum drawdown | 0.0% | 0.0% |
| Beta | -- | 0.99 |
| Alpha | -- | −0.12% |
From daily NAVs, 05-07-2023 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.
Bajaj Finserv Overnight Fund (Direct)
Zerodha Overnight Fund (Direct)
Nifty 1D Rate Index TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Bajaj Finserv Overnight Fund (Direct) | 0.0% | -- | -- | -- | -- | 0.0% |
| Zerodha Overnight Fund (Direct) | 0.0% | -- | -- | -- | -- | 0.0% |
| Nifty 1D Rate Index TRI | 0.0% | -- | -- | -- | -- | 0.0% |
From daily values since 09-04-2025, the first day every fund has.
Rolling standard deviation
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 1-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Bajaj Finserv Overnight Fund (Direct)
Zerodha Overnight Fund (Direct)
Nifty 1D Rate Index TRI
Against Nifty 1D Rate Index TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Bajaj Finserv Overnight Fund (Direct) | 101% | NaN% | 0.08% |
| Zerodha Overnight Fund (Direct) | 98% | NaN% | 0.07% |
From month-end values since 09-04-2025. Up capture: a fund's average month when the benchmark rose, as % of the benchmark's; above 100% it gained more. Down capture: the same for months the benchmark fell; below 100% it fell less. Tracking error: how far the monthly returns strayed from the benchmark's, a year; an index fund aims near 0.
Bajaj Finserv Overnight vs Zerodha Overnight: Portfolio Overlap
From each fund's latest monthly portfolio: Bajaj Finserv Overnight Fund, September 2026; Zerodha Overnight Fund, September 2026
Holdings in common
- Overlap
- 1.0%
- Held by both
- 1
- Only in Bajaj Finserv Overnight
- 3
- Only in Zerodha Overnight
- 1
| Security | % of Bajaj Finserv Overnight | % of Zerodha Overnight |
|---|---|---|
| 91 Days Tbill (MD 01/10/2026) | 3.16% | 1.01% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 1.0% means 1.0% 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 Bajaj Finserv Overnight Fund
| Security | % of fund |
|---|---|
| National Bank For Agriculture and Rural Development (01/10/2026) | 6.31% |
| 364 Days Tbill (MD 02/10/2026) | 1.26% |
| 182 Days Tbill (MD 29/10/2026) | 0.63% |
Largest holdings only in Zerodha Overnight Fund
| Security | % of fund |
|---|---|
| 91 Days Treasury Bill 22-Oct-2026 | 1.01% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Bajaj Finserv Overnight | Zerodha Overnight |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 11.4% | 2.0% |
| Cash and others | 88.6% | 98.0% |
Bajaj Finserv Overnight vs Zerodha Overnight: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Bajaj Finserv Overnight Fund | Zerodha Overnight Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.11% | 0.13% |
| Base expense ratio (Direct) | 0.07% | 0.08% |
| Total expense ratio (Regular) | 0.16% | Not available |
| Base expense ratio (Regular) | 0.11% | 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 Bajaj Finserv Overnight with
Bajaj Finserv Overnight Fund vs Zerodha Overnight Fund: Frequently Asked Questions
What is the difference between Bajaj Finserv Overnight Fund and Zerodha Overnight Fund?
Both are Overnight funds, run by Bajaj Finserv Mutual Fund and Zerodha Mutual Fund. Their portfolios overlap 1.0%. Bajaj Finserv Overnight Fund charges 0.11% a year and Zerodha Overnight Fund 0.13%.
Which has given higher returns, Bajaj Finserv Overnight Fund or Zerodha Overnight Fund?
Over 1 year: Bajaj Finserv Overnight Fund +5.34%, Zerodha Overnight Fund +5.13%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Bajaj Finserv Overnight Fund or Zerodha Overnight Fund?
Bajaj Finserv Overnight Fund charges less: 0.11% a year against 0.13%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Bajaj Finserv Overnight Fund and Zerodha Overnight Fund overlap?
1.0%. They hold 1 of the same securities, the largest shared ones being 91 Days Tbill (MD 01/10/2026). From each fund's latest monthly portfolio.
Which is riskier, Bajaj Finserv Overnight Fund or Zerodha Overnight Fund?
On SEBI's riskometer, Bajaj Finserv Overnight Fund is rated Low and Zerodha Overnight Fund Low. Over 1 years, the standard deviation of daily returns was 0.04% and 0.05% a year.
Can I invest in both Bajaj Finserv Overnight Fund and Zerodha Overnight Fund?
Yes. 1.0% of each fund's money sits in the same holdings, so the two hold mostly different investments.
Who manages Bajaj Finserv Overnight Fund and Zerodha Overnight Fund?
Bajaj Finserv Overnight Fund: Nimesh Chandan, Siddharth Chaudhary, Chirag Shah, Sourish Chatterjee. Zerodha Overnight 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.