Groww NIFTY 200 ETF vs ITI Flexi Cap Fund
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
Groww NIFTY 200 ETF is an ETF fund and ITI Flexi Cap Fund is a Flexi Cap fund. In the year to 30-10-2026, Groww NIFTY 200 ETF returned −8.2% and ITI Flexi Cap Fund (Direct) returned 6.4%. Groww NIFTY 200 ETF charges 0.43% a year and ITI Flexi Cap Fund 0.88%. Their portfolios overlap 42.5%: they hold 47 of the same securities.
Which is better, Groww NIFTY 200 ETF or ITI Flexi Cap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- ITI Flexi Cap returned more over 1 year: 6.4% against −8.2%.
- Groww NIFTY 200 ETF costs less: 0.43% a year against 0.88%.
- ITI Flexi Cap fell less in its worst fall since 27-02-2025: −13.0% against −14.8%.
- Groww NIFTY 200 ETF holds more in large companies: 79.6% of the fund in large caps against 44.7%.
- ITI Flexi Cap is the larger fund: ₹1,588 Cr against ₹16 Cr.
- Their portfolios overlap 42.5%: 47 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 | Groww NIFTY 200 ETF | ITI Flexi Cap Fund |
|---|---|---|
| Fund house | Groww Mutual Fund | ITI Mutual Fund |
| Category | ETF | Flexi Cap |
| AUM | ₹16 Cr (30-09-2026) | ₹1,588 Cr (30-09-2026) |
| NAV | ₹10.72 | ₹20.35 (Direct) |
| Expense ratio (Direct) | Not available | 0.88% |
| Expense ratio (Regular) | Not available | 2.32% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 200 TRI | Nifty 500 TRI |
| Launch date | 25-02-2025 | 17-02-2023 |
| Minimum investment | ₹500 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Nikhil Satam, Aakash Chauhan, Shashi Kumar | Dhimant Shah, Nilay Dalal |
| Exit load | Nil | Exit load of 0.50%, if redeemed within 3 months. |
Groww NIFTY 200 ETF vs ITI Flexi Cap: 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 |
|---|---|---|---|---|---|---|---|
| Groww NIFTY 200 ETF | +0.13% | −6.00% | −3.35% | −8.21% | -- | -- | -- |
| ITI Flexi Cap Fund (Direct) | −1.70% | −0.27% | +7.12% | +6.40% | +18.32% | -- | -- |
| Flexi Cap average | −1.62% | −4.17% | +1.00% | −3.58% | +12.37% | -- | -- |
Category average: the average of the 46 Flexi Cap funds, same plan type.
Groww NIFTY 200 ETF vs ITI Flexi Cap: Year-wise Returns
| Year | Groww NIFTY 200 ETFGroww NIFTY 200 ETF | ITI Flexi CapITI Flexi Cap |
|---|---|---|
| 2026to date | −8.79% | +5.44% |
| 2025 | -- | +4.71% |
| 2024 | -- | +28.10% |
Groww NIFTY 200 ETF vs ITI Flexi Cap: Rolling Returns
Every holding period of both funds, against Nifty 200 TRI, the benchmark of Groww NIFTY 200 ETF
Rolling returns
Every 1-year holding period, 164 of them, one for each trading day from 27-02-2026 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.
Groww NIFTY 200 ETF
ITI Flexi Cap Fund (Direct)
Nifty 200 TRI
to
Mar 2026Apr 2025
to
Apr 2026Jun 2025
to
Jun 2026Jul 2025
to
Jul 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Groww NIFTY 200 ETF | 46.3 | 37.8 | 11.6 | 3.7 | 0.6 | 0.0 | 0.0 | 0.8% | 0.3% | −9.9% | 15.6% | 0% |
| ITI Flexi Cap | 0.0 | 8.5 | 37.8 | 37.8 | 14.6 | 1.2 | 0.0 | 10.7% | 10.5% | 1.6% | 22.3% | 100% |
| Nifty 200 TRI | 42.1 | 40.2 | 13.4 | 3.0 | 1.2 | 0.0 | 0.0 | 1.2% | 0.7% | −9.6% | 16.1% | -- |
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 200 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 27-02-2025. Past returns do not promise future returns.
Groww NIFTY 200 ETF vs ITI Flexi Cap: 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 27-02-2025 to 30-10-2026: 21 instalments, ₹2,10,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Groww NIFTY 200 ETFGroww NIFTY 200 ETF | ₹2,10,000 | ₹2,04,546 | −₹5,454 | −2.9% |
| ITI Flexi CapITI Flexi Cap Fund (Direct) | ₹2,10,000 | ₹2,30,732 | ₹20,732 | 10.7% |
Groww NIFTY 200 ETFGroww NIFTY 200 ETF
ITI Flexi CapITI Flexi Cap 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.
Groww NIFTY 200 ETF vs ITI Flexi Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Groww NIFTY 200 ETF | ITI Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −8.21% | +6.40% |
| Standard deviation | 14.33% | 15.44% |
| Sharpe ratio | -0.94 | 0.07 |
| Sortino ratio | -1.24 | 0.10 |
| Maximum drawdown | −14.8% (31-03-2026) | −13.0% (31-03-2026) |
| Beta | 1.00 | 1.03 |
| Alpha | −0.38% | +14.15% |
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 | Groww NIFTY 200 ETF | ITI Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +4.51% | +21.51% |
| Standard deviation | 13.84% | 15.22% |
| Sharpe ratio | -0.07 | 1.01 |
| Sortino ratio | -0.09 | 1.36 |
| Maximum drawdown | −14.8% (31-03-2026) | −21.4% (28-02-2025) |
| Beta | 1.00 | 1.07 |
| Alpha | −0.43% | +8.54% |
From daily NAVs, 27-02-2025 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.
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.
Groww NIFTY 200 ETF
ITI Flexi Cap Fund (Direct)
Nifty 200 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Groww NIFTY 200 ETF | −14.8% | 02-01-2026 | 31-03-2026 | Not yet | -- | −9.7% |
| ITI Flexi Cap Fund (Direct) | −13.0% | 02-01-2026 | 31-03-2026 | 07-05-2026 | 37 days | −5.0% |
| Nifty 200 TRI | −14.8% | 02-01-2026 | 30-03-2026 | Not yet | -- | −9.4% |
From daily values since 27-02-2025, 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.
Groww NIFTY 200 ETF
ITI Flexi Cap Fund (Direct)
Nifty 200 TRI
Against Nifty 200 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Groww NIFTY 200 ETF | 99% | 101% | 0.06% |
| ITI Flexi Cap Fund (Direct) | 123% | 61% | 6.73% |
From month-end values since 27-02-2025. 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.
Groww NIFTY 200 ETF vs ITI Flexi Cap: Portfolio Overlap
From each fund's latest monthly portfolio: Groww NIFTY 200 ETF, September 2026; ITI Flexi Cap Fund, September 2026
Holdings in common
- Overlap
- 42.5%
- Held by both
- 47
- Only in Groww NIFTY 200 ETF
- 153
- Only in ITI Flexi Cap
- 35
| Security | % of Groww NIFTY 200 ETF | % of ITI Flexi Cap |
|---|---|---|
| ICICI Bank Limited | 5.86% | 4.61% |
| HDFC Bank Limited | 6.72% | 3.56% |
| Reliance Industries Limited | 4.91% | 3.48% |
| Bharti Airtel Limited | 3.31% | 2.27% |
| Larsen & Toubro Limited | 2.72% | 2.07% |
| State Bank of India | 2.45% | 2.06% |
| Axis Bank Limited | 2.18% | 1.73% |
| Kotak Mahindra Bank Limited | 1.90% | 1.57% |
| Eternal Limited | 1.43% | 1.19% |
| Sun Pharmaceutical Industries Limited | 1.19% | 0.97% |
| Tata Consultancy Services Limited | 1.29% | 0.95% |
| NTPC Limited | 0.95% | 1.19% |
| Bajaj Finance Limited | 1.62% | 0.94% |
| Titan Company Limited | 1.17% | 0.93% |
| Shriram Finance Limited | 0.85% | 0.97% |
| Bharat Electronics Limited | 0.86% | 0.85% |
| Infosys Limited | 2.17% | 0.82% |
| Maruti Suzuki India Limited | 0.96% | 0.81% |
| UltraTech Cement Limited | 0.80% | 0.92% |
| ITC Limited | 1.57% | 0.74% |
| Divi's Laboratories Limited | 0.73% | 1.68% |
| Grasim Industries Limited | 0.71% | 0.94% |
| InterGlobe Aviation Limited | 0.70% | 0.86% |
| Mahindra & Mahindra Limited | 1.63% | 0.67% |
| Power Grid Corporation of India Limited | 0.73% | 0.62% |
| TVS Motor Company Limited | 0.60% | 1.11% |
| Tata Motors Limited | 0.55% | 0.77% |
| Multi Commodity Exchange of India Ltd. | 0.52% | 1.49% |
| The Federal Bank Limited | 0.48% | 0.88% |
| Cholamandalam Invest & Finance Co Ltd | 0.43% | 0.85% |
| Vedanta Aluminium Metal Limited | 0.43% | 1.21% |
| The Indian Hotels Company Limited | 0.40% | 0.88% |
| Varun Beverages Limited | 0.37% | 1.00% |
| Dixon Technologies (India) Limited | 0.33% | 0.97% |
| Bharat Forge Limited | 0.33% | 0.65% |
| GE Vernova T&D India Limited | 0.32% | 1.16% |
| Bajaj Holdings & Investment.Ltd | 0.29% | 0.60% |
| Polycab India Limited | 0.26% | 0.91% |
| Canara Bank | 0.25% | 0.81% |
| United Spirits Limited | 0.25% | 1.01% |
| Bosch Limited | 0.24% | 1.20% |
| Max Financial Services Limited | 0.22% | 0.75% |
| APAR INDUSTRIES LTD | 0.20% | 1.74% |
| Prestige Estates Projects Limited | 0.15% | 0.87% |
| Hindustan Copper Limited | 0.11% | 1.05% |
| LG Electronics India Limited | 0.11% | 1.07% |
| Bank of Maharashtra | 0.10% | 0.72% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 42.5% means 42.5% 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 Groww NIFTY 200 ETF
| Security | % of fund |
|---|---|
| Hindustan Unilever Limited | 1.03% |
| Tata Steel Limited | 0.95% |
| Adani Port & Special Economic Zone Ltd | 0.87% |
| Hindalco Industries Limited | 0.84% |
| HCL Technologies Limited | 0.80% |
Largest holdings only in ITI Flexi Cap Fund
| Security | % of fund |
|---|---|
| Aditya Infotech Limited | 2.62% |
| Ather Energy Limited | 1.82% |
| VA Tech Wabag Limited | 1.72% |
| Sai Life Sciences Limited | 1.63% |
| PTC Industries Limited | 1.56% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Groww NIFTY 200 ETF | ITI Flexi Cap |
|---|---|---|
| Equity | 99.9% | 94.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 0.1% | 6.0% |
Market cap of stocks
| Market cap | Groww NIFTY 200 ETF | ITI Flexi Cap |
|---|---|---|
| Large Cap | 79.6% | 44.7% |
| Mid Cap | 19.9% | 15.5% |
| Small Cap | 0.3% | 29.2% |
| Not on AMFI's list | 0.0% | 4.7% |
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 | Groww NIFTY 200 ETF | ITI Flexi Cap |
|---|---|---|
| Banks | 22.2% | 15.9% |
| Pharmaceuticals & Biotechnology | 5.1% | 7.5% |
| IT - Software | 6.4% | 1.8% |
| Finance | 5.9% | 3.4% |
| Industrial Products | 1.3% | 5.8% |
| Petroleum Products | 5.8% | 3.5% |
| Auto Components | 1.4% | 5.6% |
| Automobiles | 5.5% | 4.4% |
| Chemicals & Petrochemicals | 0.8% | 4.3% |
The six largest sectors of each fund's stocks, % of the fund.
Groww NIFTY 200 ETF vs ITI Flexi Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Groww NIFTY 200 ETF | ITI Flexi Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | Not available | 0.88% |
| Base expense ratio (Direct) | 0.35% | 0.53% |
| Total expense ratio (Regular) | Not available | 2.32% |
| Base expense ratio (Regular) | 0.00% | 1.81% |
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
Groww NIFTY 200 ETF vs ITI Flexi Cap Fund: Frequently Asked Questions
What is the difference between Groww NIFTY 200 ETF and ITI Flexi Cap Fund?
Groww NIFTY 200 ETF is an ETF fund, ITI Flexi Cap Fund is a Flexi Cap fund, run by Groww Mutual Fund and ITI Mutual Fund. Their portfolios overlap 42.5%. Groww NIFTY 200 ETF charges 0.43% a year and ITI Flexi Cap Fund 0.88%.
Which has given higher returns, Groww NIFTY 200 ETF or ITI Flexi Cap Fund?
Over 1 year: Groww NIFTY 200 ETF −8.21%, ITI Flexi Cap Fund +6.40%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Groww NIFTY 200 ETF or ITI Flexi Cap Fund?
Groww NIFTY 200 ETF charges less: 0.43% a year against 0.88%. These are the total expense ratios reported to AMFI.
How much do Groww NIFTY 200 ETF and ITI Flexi Cap Fund overlap?
42.5%. They hold 47 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, RELIANCE. From each fund's latest monthly portfolio.
Which is riskier, Groww NIFTY 200 ETF or ITI Flexi Cap Fund?
On SEBI's riskometer, Groww NIFTY 200 ETF is rated Very High and ITI Flexi Cap Fund Very High. Over 1 years, the standard deviation of daily returns was 14.33% and 15.44% a year.
Can I invest in both Groww NIFTY 200 ETF and ITI Flexi Cap Fund?
Yes. 42.5% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Groww NIFTY 200 ETF and ITI Flexi Cap Fund?
Groww NIFTY 200 ETF: Nikhil Satam, Aakash Chauhan, Shashi Kumar. ITI Flexi Cap Fund: Dhimant Shah, Nilay Dalal.
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.