Bandhan Retirement Fund vs Zerodha Nifty 50 Index Fund
Direct Plan, Growth option · Data as on 30-10-2026
Bandhan Retirement Fund is a Solution fund and Zerodha Nifty 50 Index Fund is an Index fund. In the year to 30-10-2026, Bandhan Retirement Fund (Direct) returned −3.5% and Zerodha Nifty 50 Index Fund (Direct) returned −10.3%. Bandhan Retirement Fund charges 1.03% a year and Zerodha Nifty 50 Index Fund 0.28% (Direct plans). Their portfolios overlap 44.9%: they hold 22 of the same securities.
Bandhan Retirement Fund
Solution
- 1 year return
- −3.5%
- Expense ratio
- 1.03%
- NAV
- ₹12.80
Zerodha Nifty 50 Index Fund
Index
- 1 year return
- −10.3%
- Expense ratio
- 0.28%
- NAV
- ₹9.24
Which is better, Bandhan Retirement 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 Retirement returned more over 1 year: −3.5% against −10.3%.
- Zerodha Nifty 50 Index costs less: 0.28% a year against 1.03% (Direct plans).
- Bandhan Retirement fell less in its worst fall since 17-10-2025: −9.8% against −15.2%.
- Zerodha Nifty 50 Index holds more in large companies: 99.2% of the fund in large caps against 56.2%.
- Bandhan Retirement is the larger fund: ₹182 Cr against ₹75 Cr.
- Their portfolios overlap 44.9%: 22 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 Retirement Fund | Zerodha Nifty 50 Index Fund |
|---|---|---|
| Fund house | Bandhan Mutual Fund | Zerodha Mutual Fund |
| Category | Solution | Index |
| AUM | ₹182 Cr (31-08-2026) | ₹75 Cr (30-09-2026) |
| NAV | ₹12.80 (Direct) | ₹9.24 (Direct) |
| Expense ratio (Direct) | 1.03% | 0.28% |
| Expense ratio (Regular) | 2.62% | Not available |
| Riskometer | Very High | Very High |
| Benchmark | CRISIL Hybrid 50+50 - Moderate Index | Nifty 50 TRI |
| Launch date | 13-10-2023 | 14-10-2025 |
| Minimum investment | ₹1,000 | ₹100 |
| Lock in | 5 years, or until retirement if earlier | None |
| Fund managers | Vishal Biraia, Gautam Kaul, Viraj Kulkarni, Ritika Behera, Gaurav Satra, Brijesh Shah | Kedarnath Mirajkar |
| Exit load | Nil | Nil |
Bandhan Retirement 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 Retirement Fund (Direct) | +0.47% | −3.64% | −1.17% | −3.52% | +9.08% | -- | -- |
| Zerodha Nifty 50 Index Fund (Direct) | +1.95% | −5.00% | −3.12% | −10.25% | -- | -- | -- |
Bandhan Retirement vs Zerodha Nifty 50 Index: Year-wise Returns
| Year | Bandhan RetirementBandhan Retirement | Zerodha Nifty 50 IndexZerodha Nifty 50 Index |
|---|---|---|
| 2026to date | −4.29% | −11.01% |
| 2025 | +8.38% | -- |
| 2024 | +14.67% | -- |
Bandhan Retirement vs Zerodha Nifty 50 Index: Rolling Returns
Every holding period of both funds, against Nifty 50 TRI, the benchmark of Zerodha Nifty 50 Index Fund
Bandhan Retirement 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 RetirementBandhan Retirement Fund (Direct) | ₹1,30,000 | ₹1,27,596 | −₹2,404 | −3.2% |
| Zerodha Nifty 50 IndexZerodha Nifty 50 Index Fund (Direct) | ₹1,30,000 | ₹1,23,091 | −₹6,909 | −9.1% |
Bandhan RetirementBandhan Retirement 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 Retirement 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 Retirement Fund (Direct) | Zerodha Nifty 50 Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | −3.52% | −10.25% |
| Standard deviation | 8.91% | 13.60% |
| Sharpe ratio | -0.98 | -1.14 |
| Sortino ratio | -1.32 | -1.52 |
| Maximum drawdown | −9.8% (30-03-2026) | −15.2% (30-03-2026) |
| Beta | -- | 1.00 |
| Alpha | -- | −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 Retirement Fund (Direct) | Zerodha Nifty 50 Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.50% | −9.31% |
| Standard deviation | 8.34% | 13.43% |
| Sharpe ratio | 0.30 | -1.08 |
| Sortino ratio | 0.40 | -1.45 |
| Maximum drawdown | −9.8% (30-03-2026) | −15.2% (30-03-2026) |
| Beta | -- | 1.00 |
| Alpha | -- | −0.29% |
From daily NAVs, 19-10-2023 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.
Bandhan Retirement Fund (Direct)
Zerodha Nifty 50 Index Fund (Direct)
Nifty 50 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Bandhan Retirement Fund (Direct) | −9.8% | 02-01-2026 | 30-03-2026 | Not yet | -- | −5.0% |
| Zerodha Nifty 50 Index Fund (Direct) | −15.2% | 02-01-2026 | 30-03-2026 | Not yet | -- | −11.7% |
| Nifty 50 TRI | −15.1% | 02-01-2026 | 30-03-2026 | Not yet | -- | −11.6% |
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 Retirement Fund (Direct)
Zerodha Nifty 50 Index Fund (Direct)
Nifty 50 TRI
Against Nifty 50 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Bandhan Retirement Fund (Direct) | 73% | 58% | 5.36% |
| Zerodha Nifty 50 Index Fund (Direct) | 99% | 100% | 0.15% |
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 Retirement vs Zerodha Nifty 50 Index: Portfolio Overlap
From each fund's latest monthly portfolio: Bandhan Retirement Fund, August 2026; Zerodha Nifty 50 Index Fund, September 2026
Holdings in common
- Overlap
- 44.9%
- Held by both
- 22
- Only in Bandhan Retirement
- 33
- Only in Zerodha Nifty 50 Index
- 28
| Security | % of Bandhan Retirement | % of Zerodha Nifty 50 Index |
|---|---|---|
| Bharti Airtel Limited | 5.45% | 5.13% |
| Reliance Industries Limited | 5.08% | 7.63% |
| ICICI Bank Limited | 4.80% | 9.10% |
| HDFC Bank Limited | 4.09% | 10.44% |
| Larsen & Toubro Limited | 3.81% | 4.23% |
| Kotak Mahindra Bank Limited | 3.76% | 2.95% |
| State Bank of India | 2.16% | 3.81% |
| Axis Bank Limited | 1.93% | 3.39% |
| Titan Company Limited | 3.91% | 1.82% |
| Infosys Limited | 1.63% | 3.37% |
| Maruti Suzuki India Limited | 1.79% | 1.49% |
| ITC Limited | 1.40% | 2.43% |
| Tata Consultancy Services Limited | 1.32% | 2.01% |
| Hindalco Industries Limited | 1.57% | 1.31% |
| Bajaj Finance Limited | 1.16% | 2.52% |
| Eternal Limited | 1.08% | 2.23% |
| Coal India Limited | 0.95% | 0.98% |
| Cipla Limited | 0.86% | 0.73% |
| Adani Ports and Special Economic Zone Limited | 0.61% | 1.35% |
| HDFC Life Insurance Company Limited | 0.60% | 0.54% |
| InterGlobe Aviation Limited | 0.53% | 1.08% |
| Tata Motors Passenger Vehicles Limited | 0.34% | 0.57% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 44.9% means 44.9% 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 Retirement Fund
| Security | % of fund |
|---|---|
| 7.3% GOI (MD 19/06/2053) | 21.31% |
| Hitachi Energy India Limited | 2.75% |
| Info Edge (India) Limited | 1.69% |
| Jindal Steel Limited | 1.31% |
| Hero MotoCorp Limited | 1.26% |
Largest holdings only in Zerodha Nifty 50 Index Fund
| Security | % of fund |
|---|---|
| Mahindra & Mahindra Limited | 2.53% |
| Sun Pharmaceutical Industries Limited | 1.85% |
| Hindustan Unilever Limited | 1.60% |
| NTPC Limited | 1.47% |
| Tata Steel Limited | 1.47% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Bandhan Retirement | Zerodha Nifty 50 Index |
|---|---|---|
| Equity | 72.1% | 100.6% |
| Debt | 21.3% | 0.0% |
| Cash and others | 6.6% | -0.6% |
Market cap of stocks
| Market cap | Bandhan Retirement | Zerodha Nifty 50 Index |
|---|---|---|
| Large Cap | 56.2% | 99.2% |
| Mid Cap | 11.1% | 1.4% |
| Small Cap | 4.8% | 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 Retirement | Zerodha Nifty 50 Index |
|---|---|---|
| Banks | 16.7% | 29.7% |
| Petroleum Products | 5.1% | 7.6% |
| IT - Software | 3.8% | 7.6% |
| Automobiles | 3.4% | 6.7% |
| Finance | 2.9% | 5.5% |
| Telecom - Services | 5.5% | 5.1% |
| Consumer Durables | 4.9% | 2.9% |
| Construction | 3.8% | 4.2% |
The six largest sectors of each fund's stocks, % of the fund.
Bandhan Retirement vs Zerodha Nifty 50 Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Bandhan Retirement Fund | Zerodha Nifty 50 Index Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.03% | 0.28% |
| Base expense ratio (Direct) | 0.73% | 0.10% |
| Total expense ratio (Regular) | 2.62% | Not available |
| Base expense ratio (Regular) | 2.10% | 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.
Bandhan Retirement Fund vs Zerodha Nifty 50 Index Fund: Frequently Asked Questions
What is the difference between Bandhan Retirement Fund and Zerodha Nifty 50 Index Fund?
Bandhan Retirement Fund is a Solution fund, Zerodha Nifty 50 Index Fund is an Index fund, run by Bandhan Mutual Fund and Zerodha Mutual Fund. Their portfolios overlap 44.9%. Bandhan Retirement Fund charges 1.03% a year and Zerodha Nifty 50 Index Fund 0.28%.
Which has given higher returns, Bandhan Retirement Fund or Zerodha Nifty 50 Index Fund?
Over 1 year: Bandhan Retirement Fund −3.52%, 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 Retirement Fund or Zerodha Nifty 50 Index Fund?
Zerodha Nifty 50 Index Fund charges less: 0.28% a year against 1.03%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Bandhan Retirement Fund and Zerodha Nifty 50 Index Fund overlap?
44.9%. They hold 22 of the same securities, the largest shared ones being BHARTIARTL, RELIANCE, ICICIBANK. From each fund's latest monthly portfolio.
Which is riskier, Bandhan Retirement Fund or Zerodha Nifty 50 Index Fund?
On SEBI's riskometer, Bandhan Retirement Fund is rated Very High and Zerodha Nifty 50 Index Fund Very High. Over 1 years, the standard deviation of daily returns was 8.91% and 13.60% a year.
Can I invest in both Bandhan Retirement Fund and Zerodha Nifty 50 Index Fund?
Yes. 44.9% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Bandhan Retirement Fund and Zerodha Nifty 50 Index Fund?
Bandhan Retirement Fund: Vishal Biraia, Gautam Kaul, Viraj Kulkarni, Ritika Behera, Gaurav Satra, Brijesh Shah. 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.