Bandhan Flexi Cap Fund vs Zerodha Nifty 50 Index Fund
Direct Plan, Growth option · Data as on 30-10-2026
Bandhan Flexi Cap Fund is a Flexi Cap fund and Zerodha Nifty 50 Index Fund is an Index fund. In the year to 30-10-2026, Bandhan Flexi Cap Fund (Direct) returned −5.6% and Zerodha Nifty 50 Index Fund (Direct) returned −10.3%. Bandhan Flexi Cap Fund charges 1.52% a year and Zerodha Nifty 50 Index Fund 0.28% (Direct plans). Their portfolios overlap 56.9%: they hold 27 of the same securities.
Bandhan Flexi Cap Fund
Flexi Cap
- 1 year return
- −5.6%
- Expense ratio
- 1.52%
- NAV
- ₹222.44
Zerodha Nifty 50 Index Fund
Index
- 1 year return
- −10.3%
- Expense ratio
- 0.28%
- NAV
- ₹9.24
Which is better, Bandhan Flexi Cap or Zerodha Nifty 50 Index? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Bandhan Flexi Cap returned more over 1 year: −5.6% against −10.3%.
- Zerodha Nifty 50 Index costs less: 0.28% a year against 1.52% (Direct plans).
- Bandhan Flexi Cap fell less in its worst fall since 17-10-2025: −13.9% against −15.2%.
- Zerodha Nifty 50 Index holds more in large companies: 99.2% of the fund in large caps against 72.0%.
- Bandhan Flexi Cap is the larger fund: ₹7,508 Cr against ₹75 Cr.
- Their portfolios overlap 56.9%: 27 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 Flexi Cap Fund | Zerodha Nifty 50 Index Fund |
|---|---|---|
| Fund house | Bandhan Mutual Fund | Zerodha Mutual Fund |
| Category | Flexi Cap | Index |
| AUM | ₹7,508 Cr (31-08-2026) | ₹75 Cr (30-09-2026) |
| NAV | ₹222.44 (Direct) | ₹9.24 (Direct) |
| Expense ratio (Direct) | 1.52% | 0.28% |
| Expense ratio (Regular) | 2.20% | Not available |
| Riskometer | Very High | Very High |
| Benchmark | BSE 500 TRI | Nifty 50 TRI |
| Launch date | 28-09-2005 | 14-10-2025 |
| Minimum investment | ₹1,000 | ₹100 |
| Lock in | None | None |
| Fund managers | Manish Gunwani, Viraj Kulkarni | Kedarnath Mirajkar |
| Exit load | Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 1 year. | Nil |
Bandhan Flexi Cap vs Zerodha Nifty 50 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 |
|---|---|---|---|---|---|---|---|
| Bandhan Flexi Cap Fund (Direct) | +0.60% | −4.90% | −0.95% | −5.58% | +10.81% | +8.79% | +10.55% |
| Zerodha Nifty 50 Index Fund (Direct) | +1.95% | −5.00% | −3.12% | −10.25% | -- | -- | -- |
| Flexi Cap average | −1.62% | −4.17% | +1.00% | −3.58% | +12.37% | +10.04% | +13.13% |
Category average: the average of the 46 Flexi Cap funds, same plan type.
Bandhan Flexi Cap vs Zerodha Nifty 50 Index: Year-wise Returns
| Year | Bandhan Flexi CapBandhan Flexi Cap | Zerodha Nifty 50 IndexZerodha Nifty 50 Index |
|---|---|---|
| 2026to date | −5.91% | −11.01% |
| 2025 | +10.03% | -- |
| 2024 | +15.76% | -- |
| 2023 | +25.35% | -- |
| 2022 | −0.68% | -- |
| 2021 | +33.15% | -- |
Bandhan Flexi Cap vs Zerodha Nifty 50 Index: Rolling Returns
Every holding period of both funds, against BSE 500 TRI, the benchmark of Bandhan Flexi Cap Fund
Bandhan Flexi Cap vs Zerodha Nifty 50 Index: 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 01-10-2025 to 30-10-2026: 13 instalments, ₹1,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Bandhan Flexi CapBandhan Flexi Cap Fund (Direct) | ₹1,30,000 | ₹1,26,808 | −₹3,192 | −4.2% |
| Zerodha Nifty 50 IndexZerodha Nifty 50 Index Fund (Direct) | ₹1,30,000 | ₹1,23,091 | −₹6,909 | −9.1% |
Bandhan Flexi CapBandhan Flexi Cap Fund (Direct)
Zerodha Nifty 50 IndexZerodha Nifty 50 Index 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.
Bandhan Flexi Cap vs Zerodha Nifty 50 Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Bandhan Flexi Cap Fund (Direct) | Zerodha Nifty 50 Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | −5.58% | −10.25% |
| Standard deviation | 12.99% | 13.60% |
| Sharpe ratio | -0.83 | -1.14 |
| Sortino ratio | -1.13 | -1.52 |
| Maximum drawdown | −13.9% (31-03-2026) | −15.2% (30-03-2026) |
| Beta | 0.89 | 1.00 |
| Alpha | +0.60% | −0.28% |
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 Flexi Cap Fund (Direct) | Zerodha Nifty 50 Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.09% | −9.31% |
| Standard deviation | 14.55% | 13.43% |
| Sharpe ratio | 0.48 | -1.08 |
| Sortino ratio | 0.65 | -1.45 |
| Maximum drawdown | −36.9% (23-03-2020) | −15.2% (30-03-2026) |
| Beta | 0.87 | 1.00 |
| Alpha | +1.17% | −0.29% |
From daily NAVs, 02-01-2013 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 Flexi Cap Fund (Direct)
Zerodha Nifty 50 Index Fund (Direct)
BSE 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Bandhan Flexi Cap Fund (Direct) | −13.9% | 02-01-2026 | 31-03-2026 | Not yet | -- | −6.7% |
| Zerodha Nifty 50 Index Fund (Direct) | −15.2% | 02-01-2026 | 30-03-2026 | Not yet | -- | −11.7% |
| BSE 500 TRI | −14.8% | 02-01-2026 | 30-03-2026 | Not yet | -- | −8.7% |
From daily values since 17-10-2025, 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.
Bandhan Flexi Cap Fund (Direct)
Zerodha Nifty 50 Index Fund (Direct)
BSE 500 TRI
Against BSE 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Bandhan Flexi Cap Fund (Direct) | 98% | 88% | 2.62% |
| Zerodha Nifty 50 Index Fund (Direct) | 81% | 100% | 4.83% |
From month-end values since 17-10-2025. 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.
Bandhan Flexi Cap vs Zerodha Nifty 50 Index: Portfolio Overlap
From each fund's latest monthly portfolio: Bandhan Flexi Cap Fund, August 2026; Zerodha Nifty 50 Index Fund, September 2026
Holdings in common
- Overlap
- 56.9%
- Held by both
- 27
- Only in Bandhan Flexi Cap
- 51
- Only in Zerodha Nifty 50 Index
- 23
| Security | % of Bandhan Flexi Cap | % of Zerodha Nifty 50 Index |
|---|---|---|
| HDFC Bank Limited | 8.50% | 10.44% |
| ICICI Bank Limited | 8.00% | 9.10% |
| Reliance Industries Limited | 5.27% | 7.63% |
| Bharti Airtel Limited | 3.50% | 5.13% |
| Axis Bank Limited | 3.90% | 3.39% |
| Infosys Limited | 3.47% | 3.37% |
| Kotak Mahindra Bank Limited | 3.85% | 2.95% |
| ITC Limited | 2.89% | 2.43% |
| Tata Consultancy Services Limited | 2.71% | 2.01% |
| Eternal Limited | 1.97% | 2.23% |
| Larsen & Toubro Limited | 1.89% | 4.23% |
| Maruti Suzuki India Limited | 2.89% | 1.49% |
| Titan Company Limited | 1.43% | 1.82% |
| Hindustan Unilever Limited | 1.18% | 1.60% |
| NTPC Limited | 1.09% | 1.47% |
| Sun Pharmaceutical Industries Limited | 1.06% | 1.85% |
| Coal India Limited | 1.28% | 0.98% |
| Bajaj Finserv Limited | 2.42% | 0.97% |
| Oil & Natural Gas Corporation Limited | 1.54% | 0.84% |
| Cipla Limited | 1.36% | 0.73% |
| SBI Life Insurance Company Limited | 1.28% | 0.73% |
| Power Grid Corporation of India Limited | 0.70% | 1.13% |
| Trent Limited | 0.69% | 0.84% |
| HDFC Life Insurance Company Limited | 1.70% | 0.54% |
| Apollo Hospitals Enterprise Limited | 0.47% | 0.81% |
| Dr. Reddy's Laboratories Limited | 0.46% | 0.72% |
| Mahindra & Mahindra Limited | 0.22% | 2.53% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 56.9% means 56.9% 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 Flexi Cap Fund
| Security | % of fund |
|---|---|
| Cholamandalam Financial Holdings Limited | 1.42% |
| V-Mart Retail Limited | 1.34% |
| Hero MotoCorp Limited | 1.23% |
| ICICI Prudential Life Insurance Company Limited | 1.21% |
| Sterlite Technologies Limited | 1.20% |
Largest holdings only in Zerodha Nifty 50 Index Fund
| Security | % of fund |
|---|---|
| State Bank of India | 3.81% |
| Bajaj Finance Limited | 2.52% |
| Tata Steel Limited | 1.47% |
| Adani Ports and Special Economic Zone Limited | 1.35% |
| Bharat Electronics Limited | 1.34% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Bandhan Flexi Cap | Zerodha Nifty 50 Index |
|---|---|---|
| Equity | 94.7% | 100.6% |
| Debt | 0.7% | 0.0% |
| Cash and others | 4.6% | -0.6% |
Market cap of stocks
| Market cap | Bandhan Flexi Cap | Zerodha Nifty 50 Index |
|---|---|---|
| Large Cap | 72.0% | 99.2% |
| Mid Cap | 9.9% | 1.4% |
| Small Cap | 12.8% | 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 Flexi Cap | Zerodha Nifty 50 Index |
|---|---|---|
| Banks | 24.3% | 29.7% |
| Petroleum Products | 5.3% | 7.6% |
| IT - Software | 6.7% | 7.6% |
| Automobiles | 5.5% | 6.7% |
| Insurance | 6.5% | 1.3% |
| Finance | 5.3% | 5.5% |
| Telecom - Services | 3.5% | 5.1% |
The six largest sectors of each fund's stocks, % of the fund.
Bandhan Flexi Cap vs Zerodha Nifty 50 Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Bandhan Flexi Cap Fund | Zerodha Nifty 50 Index Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.52% | 0.28% |
| Base expense ratio (Direct) | 0.96% | 0.10% |
| Total expense ratio (Regular) | 2.20% | Not available |
| Base expense ratio (Regular) | 1.54% | 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 Flexi Cap Fund vs Zerodha Nifty 50 Index Fund: Frequently Asked Questions
What is the difference between Bandhan Flexi Cap Fund and Zerodha Nifty 50 Index Fund?
Bandhan Flexi Cap Fund is a Flexi Cap fund, Zerodha Nifty 50 Index Fund is an Index fund, run by Bandhan Mutual Fund and Zerodha Mutual Fund. Their portfolios overlap 56.9%. Bandhan Flexi Cap Fund charges 1.52% a year and Zerodha Nifty 50 Index Fund 0.28%.
Which has given higher returns, Bandhan Flexi Cap Fund or Zerodha Nifty 50 Index Fund?
Over 1 year: Bandhan Flexi Cap Fund −5.58%, Zerodha Nifty 50 Index Fund −10.25%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Bandhan Flexi Cap Fund or Zerodha Nifty 50 Index Fund?
Zerodha Nifty 50 Index Fund charges less: 0.28% a year against 1.52%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Bandhan Flexi Cap Fund and Zerodha Nifty 50 Index Fund overlap?
56.9%. They hold 27 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, RELIANCE. From each fund's latest monthly portfolio.
Which is riskier, Bandhan Flexi Cap Fund or Zerodha Nifty 50 Index Fund?
On SEBI's riskometer, Bandhan Flexi Cap Fund is rated Very High and Zerodha Nifty 50 Index Fund Very High. Over 1 years, the standard deviation of daily returns was 12.99% and 13.60% a year.
Can I invest in both Bandhan Flexi Cap Fund and Zerodha Nifty 50 Index Fund?
Yes. 56.9% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Bandhan Flexi Cap Fund and Zerodha Nifty 50 Index Fund?
Bandhan Flexi Cap Fund: Manish Gunwani, Viraj Kulkarni. Zerodha Nifty 50 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.