Bandhan Equity Savings Fund vs Zerodha Nifty 100 ETF
Direct Plan, Growth option · Data as on 30-10-2026
Bandhan Equity Savings Fund is an Equity Savings fund and Zerodha Nifty 100 ETF is an ETF fund. In the year to 30-10-2026, Bandhan Equity Savings Fund (Direct) returned 3.4% and Zerodha Nifty 100 ETF (Direct) returned −8.7%. Bandhan Equity Savings Fund charges 0.63% a year and Zerodha Nifty 100 ETF 0.28% (Direct plans). Their portfolios overlap 47.0%: they hold 42 of the same securities.
Bandhan Equity Savings Fund
Equity Savings
- 1 year return
- 3.4%
- Expense ratio
- 0.63%
- NAV
- ₹36.41
Which is better, Bandhan Equity Savings or Zerodha Nifty 100 ETF? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Bandhan Equity Savings returned more over 1 year: 3.4% against −8.7%.
- Zerodha Nifty 100 ETF costs less: 0.28% a year against 0.63% (Direct plans).
- Bandhan Equity Savings fell less in its worst fall since 18-06-2024: −2.2% against −17.2%.
- Zerodha Nifty 100 ETF holds more in large companies: 97.9% of the fund in large caps against 62.4%.
- Bandhan Equity Savings is the larger fund: ₹409 Cr against ₹165 Cr.
- Their portfolios overlap 47.0%: 42 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 | Bandhan Equity Savings Fund | Zerodha Nifty 100 ETF |
|---|---|---|
| Fund house | Bandhan Mutual Fund | Zerodha Mutual Fund |
| Category | Equity Savings | ETF |
| AUM | ₹409 Cr (31-08-2026) | ₹165 Cr (30-09-2026) |
| NAV | ₹36.41 (Direct) | ₹10.09 (Direct) |
| Expense ratio (Direct) | 0.63% | 0.28% |
| Expense ratio (Regular) | 1.54% | Not available |
| Riskometer | Low to Moderate | Very High |
| Benchmark | CRISIL Equity Savings Index | Nifty 100 TRI |
| Launch date | 09-06-2008 | 12-06-2024 |
| Minimum investment | ₹1,000 | In creation unit size of 765,000 units and in multiples thereafter |
| Lock in | None | None |
| Fund managers | Kapil Kankonkar, Viraj Kulkarni, Harshal Joshi, Ritika Behera, Gaurav Satra, Brijesh Shah | Kedarnath Mirajkar |
| Exit load | Exit Load for units in excess of 10% of the investment,0.25% will be charged for redemption within 7 days. | Not available |
Bandhan Equity Savings vs Zerodha Nifty 100 ETF: 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 |
|---|---|---|---|---|---|---|---|
| Bandhan Equity Savings Fund (Direct) | +0.76% | −0.35% | +2.38% | +3.37% | +7.17% | +6.70% | +7.17% |
| Zerodha Nifty 100 ETF (Direct) | +1.04% | −5.28% | −2.92% | −8.69% | -- | -- | -- |
| Equity Savings average | −0.02% | −0.68% | +1.71% | +2.12% | +8.55% | +7.55% | +8.43% |
Category average: the average of the 23 Equity Savings funds, same plan type.
Bandhan Equity Savings vs Zerodha Nifty 100 ETF: Year-wise Returns
| Year | Bandhan Equity SavingsBandhan Equity Savings | Zerodha Nifty 100 ETFZerodha Nifty 100 ETF |
|---|---|---|
| 2026to date | +2.22% | −9.32% |
| 2025 | +7.33% | +10.15% |
| 2024 | +8.64% | -- |
| 2023 | +10.73% | -- |
| 2022 | +3.55% | -- |
| 2021 | +11.32% | -- |
Bandhan Equity Savings vs Zerodha Nifty 100 ETF: Rolling Returns
Every holding period of both funds, against Nifty 100 TRI, the benchmark of Zerodha Nifty 100 ETF
Rolling returns
Every 1-year holding period, 342 of them, one for each trading day from 18-06-2025 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.
Bandhan Equity Savings Fund (Direct)
Zerodha Nifty 100 ETF (Direct)
Nifty 100 TRI
to
Jul 2025Oct 2024
to
Oct 2025Jan 2025
to
Jan 2026Apr 2025
to
Apr 2026Jul 2025
to
Jul 2026Sept 2025
to
Sept 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Bandhan Equity Savings | 0.0 | 35.7 | 64.3 | 0.0 | 0.0 | 0.0 | 0.0 | 5.6% | 6.0% | 2.7% | 7.5% | 75% |
| Zerodha Nifty 100 ETF | 40.8 | 27.5 | 19.2 | 11.8 | 0.6 | 0.0 | 0.0 | 2.2% | 1.3% | −10.5% | 15.2% | 6% |
| Nifty 100 TRI | 40.6 | 27.2 | 19.3 | 12.0 | 0.9 | 0.0 | 0.0 | 2.4% | 1.4% | −10.5% | 16.4% | -- |
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 100 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 18-06-2024. Past returns do not promise future returns.
Bandhan Equity Savings vs Zerodha Nifty 100 ETF: 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 03-06-2024 to 30-10-2026: 29 instalments, ₹2,90,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Bandhan Equity SavingsBandhan Equity Savings Fund (Direct) | ₹2,90,000 | ₹3,06,948 | ₹16,948 | 4.6% |
| Zerodha Nifty 100 ETFZerodha Nifty 100 ETF (Direct) | ₹2,90,000 | ₹2,80,663 | −₹9,337 | −2.6% |
Bandhan Equity SavingsBandhan Equity Savings Fund (Direct)
Zerodha Nifty 100 ETFZerodha Nifty 100 ETF (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.
Bandhan Equity Savings vs Zerodha Nifty 100 ETF: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Bandhan Equity Savings Fund (Direct) | Zerodha Nifty 100 ETF (Direct) |
|---|---|---|
| Return (CAGR) | +3.37% | −8.69% |
| Standard deviation | 2.73% | 14.04% |
| Sharpe ratio | -0.69 | -0.99 |
| Sortino ratio | -0.91 | -1.32 |
| Maximum drawdown | −2.2% (30-03-2026) | −14.9% (30-03-2026) |
| Beta | -- | 1.00 |
| Alpha | -- | −0.01% |
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 | Bandhan Equity Savings Fund (Direct) | Zerodha Nifty 100 ETF (Direct) |
|---|---|---|
| Return (CAGR) | +7.36% | −0.19% |
| Standard deviation | 4.54% | 13.27% |
| Sharpe ratio | 0.33 | -0.45 |
| Sortino ratio | 0.43 | -0.62 |
| Maximum drawdown | −17.3% (23-03-2020) | −17.2% (28-02-2025) |
| Beta | -- | 1.00 |
| Alpha | -- | −0.06% |
From daily NAVs, 01-01-2014 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.
Bandhan Equity Savings Fund (Direct)
Zerodha Nifty 100 ETF (Direct)
Nifty 100 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Bandhan Equity Savings Fund (Direct) | −2.2% | 26-02-2026 | 30-03-2026 | 10-06-2026 | 2 months | −1.0% |
| Zerodha Nifty 100 ETF (Direct) | −17.2% | 26-09-2024 | 28-02-2025 | Not yet | -- | −10.1% |
| Nifty 100 TRI | −17.2% | 26-09-2024 | 28-02-2025 | 02-01-2026 | 10 months | −10.1% |
From daily values since 18-06-2024, 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.
Bandhan Equity Savings Fund (Direct)
Zerodha Nifty 100 ETF (Direct)
Nifty 100 TRI
Against Nifty 100 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Bandhan Equity Savings Fund (Direct) | 31% | 4% | 12.42% |
| Zerodha Nifty 100 ETF (Direct) | 100% | 100% | 0.04% |
From month-end values since 18-06-2024. 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.
Bandhan Equity Savings vs Zerodha Nifty 100 ETF: Portfolio Overlap
From each fund's latest monthly portfolio: Bandhan Equity Savings Fund, August 2026; Zerodha Nifty 100 ETF, September 2026
Holdings in common
- Overlap
- 47.0%
- Held by both
- 42
- Only in Bandhan Equity Savings
- 24
- Only in Zerodha Nifty 100 ETF
- 58
| Security | % of Bandhan Equity Savings | % of Zerodha Nifty 100 ETF |
|---|---|---|
| HDFC Bank Limited | 3.66% | 8.41% |
| Reliance Industries Limited | 3.22% | 6.15% |
| Larsen & Toubro Limited | 2.95% | 3.41% |
| Bharti Airtel Limited | 2.90% | 4.14% |
| Axis Bank Limited | 3.87% | 2.73% |
| Kotak Mahindra Bank Limited | 3.76% | 2.38% |
| ICICI Bank Limited | 2.34% | 7.34% |
| State Bank of India | 2.30% | 3.07% |
| ITC Limited | 2.15% | 1.96% |
| Sun Pharmaceutical Industries Limited | 1.91% | 1.49% |
| Titan Company Limited | 1.29% | 1.47% |
| Maruti Suzuki India Limited | 1.82% | 1.21% |
| Tata Steel Limited | 1.06% | 1.18% |
| Grasim Industries Limited | 1.91% | 0.89% |
| Asian Paints Limited | 0.82% | 0.84% |
| Bajaj Auto Limited | 0.80% | 0.92% |
| Hindalco Industries Limited | 0.80% | 1.06% |
| Bajaj Finserv Limited | 1.89% | 0.78% |
| Tata Consultancy Services Limited | 0.76% | 1.62% |
| TVS Motor Company Limited | 0.95% | 0.75% |
| Nestle India Limited | 1.89% | 0.73% |
| NTPC Limited | 0.71% | 1.19% |
| UltraTech Cement Limited | 0.70% | 1.00% |
| HCL Technologies Limited | 0.68% | 1.00% |
| Hindustan Unilever Limited | 0.67% | 1.29% |
| JSW Steel Limited | 0.67% | 0.93% |
| Bajaj Finance Limited | 0.66% | 2.03% |
| Apollo Hospitals Enterprise Limited | 0.77% | 0.65% |
| Infosys Limited | 0.61% | 2.72% |
| SBI Life Insurance Company Limited | 1.07% | 0.59% |
| Cipla Limited | 0.67% | 0.59% |
| Torrent Pharmaceuticals Limited | 0.64% | 0.55% |
| Dr. Reddy's Laboratories Limited | 0.54% | 0.58% |
| Bharat Electronics Limited | 0.48% | 1.08% |
| Tata Power Company Limited | 0.97% | 0.47% |
| CG Power and Industrial Solutions Limited | 1.20% | 0.45% |
| Britannia Industries Limited | 0.71% | 0.44% |
| Adani Ports and Special Economic Zone Limited | 0.44% | 1.09% |
| Pidilite Industries Limited | 2.91% | 0.35% |
| Wipro Limited | 0.65% | 0.33% |
| Canara Bank | 2.93% | 0.31% |
| Punjab National Bank | 1.23% | 0.30% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 47.0% means 47.0% 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 Bandhan Equity Savings Fund
| Security | % of fund |
|---|---|
| Bandhan Money Market Fund -Direct Plan-Growth | 6.97% |
| 7.48% National Bank For Agriculture and Rural Development | 4.38% |
| 8.1% Bajaj Housing Finance Limited | 2.45% |
| 6.54% GOI (MD 17/01/2032) | 2.43% |
| 7.1% Bajaj Housing Finance Limited | 2.41% |
Largest holdings only in Zerodha Nifty 100 ETF
| Security | % of fund |
|---|---|
| Mahindra & Mahindra Limited | 2.04% |
| Eternal Limited | 1.80% |
| Shriram Finance Limited | 1.07% |
| BSE Ltd | 0.98% |
| Divi's Laboratories Limited | 0.91% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Bandhan Equity Savings | Zerodha Nifty 100 ETF |
|---|---|---|
| Equity | 65.9% | 99.9% |
| Debt | 24.9% | 0.0% |
| Cash and others | 9.2% | 0.1% |
Market cap of stocks
| Market cap | Bandhan Equity Savings | Zerodha Nifty 100 ETF |
|---|---|---|
| Large Cap | 62.4% | 97.9% |
| Mid Cap | 3.5% | 2.0% |
| Small Cap | 0.0% | 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 | Bandhan Equity Savings | Zerodha Nifty 100 ETF |
|---|---|---|
| Banks | 20.1% | 25.1% |
| Petroleum Products | 3.2% | 7.0% |
| IT - Software | 2.7% | 6.7% |
| Automobiles | 3.6% | 6.4% |
| Finance | 2.7% | 6.2% |
| Pharmaceuticals & Biotechnology | 5.3% | 4.3% |
| Telecom - Services | 2.9% | 4.4% |
| Construction | 3.0% | 3.4% |
| Cement & Cement Products | 3.1% | 2.1% |
The six largest sectors of each fund's stocks, % of the fund.
Bandhan Equity Savings vs Zerodha Nifty 100 ETF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Bandhan Equity Savings Fund | Zerodha Nifty 100 ETF |
|---|---|---|
| Total expense ratio (Direct) | 0.63% | 0.28% |
| Base expense ratio (Direct) | 0.15% | 0.22% |
| Total expense ratio (Regular) | 1.54% | Not available |
| Base expense ratio (Regular) | 0.93% | 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
Bandhan Equity Savings Fund vs Zerodha Nifty 100 ETF: Frequently Asked Questions
What is the difference between Bandhan Equity Savings Fund and Zerodha Nifty 100 ETF?
Bandhan Equity Savings Fund is an Equity Savings fund, Zerodha Nifty 100 ETF is an ETF fund, run by Bandhan Mutual Fund and Zerodha Mutual Fund. Their portfolios overlap 47.0%. Bandhan Equity Savings Fund charges 0.63% a year and Zerodha Nifty 100 ETF 0.28%.
Which has given higher returns, Bandhan Equity Savings Fund or Zerodha Nifty 100 ETF?
Over 1 year: Bandhan Equity Savings Fund +3.37%, Zerodha Nifty 100 ETF −8.69%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Bandhan Equity Savings Fund or Zerodha Nifty 100 ETF?
Zerodha Nifty 100 ETF charges less: 0.28% a year against 0.63%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Bandhan Equity Savings Fund and Zerodha Nifty 100 ETF overlap?
47.0%. They hold 42 of the same securities, the largest shared ones being HDFCBANK, RELIANCE, LT. From each fund's latest monthly portfolio.
Which is riskier, Bandhan Equity Savings Fund or Zerodha Nifty 100 ETF?
On SEBI's riskometer, Bandhan Equity Savings Fund is rated Low to Moderate and Zerodha Nifty 100 ETF Very High. Over 1 years, the standard deviation of daily returns was 2.73% and 14.04% a year.
Can I invest in both Bandhan Equity Savings Fund and Zerodha Nifty 100 ETF?
Yes. 47.0% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Bandhan Equity Savings Fund and Zerodha Nifty 100 ETF?
Bandhan Equity Savings Fund: Kapil Kankonkar, Viraj Kulkarni, Harshal Joshi, Ritika Behera, Gaurav Satra, Brijesh Shah. Zerodha Nifty 100 ETF: 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.