Groww NIFTY 200 ETF vs JioBlackRock 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 JioBlackRock Flexi Cap Fund is a Flexi Cap fund. In the year to 30-10-2026, Groww NIFTY 200 ETF returned −8.2% and JioBlackRock Flexi Cap Fund (Direct) returned −8.5%. Groww NIFTY 200 ETF charges 0.43% a year and JioBlackRock Flexi Cap Fund 1.11%. Their portfolios overlap 48.6%: they hold 71 of the same securities.
JioBlackRock Flexi Cap Fund
Flexi Cap
- 1 year return
- −8.5%
- Expense ratio
- 1.11%
- NAV
- ₹9.34
Which is better, Groww NIFTY 200 ETF or JioBlackRock 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.
- Groww NIFTY 200 ETF returned more over 1 year: −8.2% against −8.5%.
- Groww NIFTY 200 ETF costs less: 0.43% a year against 1.11%.
- JioBlackRock Flexi Cap fell less in its worst fall since 17-10-2025: −14.3% against −14.8%.
- Groww NIFTY 200 ETF holds more in large companies: 79.6% of the fund in large caps against 60.6%.
- JioBlackRock Flexi Cap is the larger fund: ₹3,175 Cr against ₹16 Cr.
- Their portfolios overlap 48.6%: 71 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 | JioBlackRock Flexi Cap Fund |
|---|---|---|
| Fund house | Groww Mutual Fund | Jio BlackRock Mutual Fund |
| Category | ETF | Flexi Cap |
| AUM | ₹16 Cr (30-09-2026) | ₹3,175 Cr (30-09-2026) |
| NAV | ₹10.72 | ₹9.34 (Direct) |
| Expense ratio (Direct) | Not available | 1.11% |
| Expense ratio (Regular) | Not available | 2.34% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 200 TRI | Nifty 500 TRI |
| Launch date | 25-02-2025 | 13-10-2025 |
| Minimum investment | ₹500 | ₹500 |
| Lock in | None | None |
| Fund managers | Nikhil Satam, Aakash Chauhan, Shashi Kumar | Sahil Chaudhary, Tanvi Kacheria |
| Exit load | Nil | Nil |
Groww NIFTY 200 ETF vs JioBlackRock 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% | -- | -- | -- |
| JioBlackRock Flexi Cap Fund (Direct) | −2.70% | −6.41% | −3.63% | −8.49% | -- | -- | -- |
| Flexi Cap average | −1.62% | −4.17% | +1.00% | −3.58% | -- | -- | -- |
Category average: the average of the 46 Flexi Cap funds, same plan type.
Groww NIFTY 200 ETF vs JioBlackRock Flexi Cap: Year-wise Returns
| Year | Groww NIFTY 200 ETFGroww NIFTY 200 ETF | JioBlackRock Flexi CapJioBlackRock Flexi Cap |
|---|---|---|
| 2026to date | −8.79% | −9.11% |
Groww NIFTY 200 ETF vs JioBlackRock Flexi Cap: Rolling Returns
Every holding period of both funds, against Nifty 200 TRI, the benchmark of Groww NIFTY 200 ETF
Groww NIFTY 200 ETF vs JioBlackRock 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 01-10-2025 to 30-10-2026: 13 instalments, ₹1,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Groww NIFTY 200 ETFGroww NIFTY 200 ETF | ₹1,30,000 | ₹1,24,149 | −₹5,851 | −7.7% |
| JioBlackRock Flexi CapJioBlackRock Flexi Cap Fund (Direct) | ₹1,30,000 | ₹1,22,782 | −₹7,218 | −9.5% |
Groww NIFTY 200 ETFGroww NIFTY 200 ETF
JioBlackRock Flexi CapJioBlackRock 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 JioBlackRock 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 | JioBlackRock Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −8.21% | −8.49% |
| Standard deviation | 14.33% | 14.47% |
| Sharpe ratio | -0.94 | -0.95 |
| Sortino ratio | -1.24 | -1.26 |
| Maximum drawdown | −14.8% (31-03-2026) | −14.3% (30-03-2026) |
| Beta | 1.00 | 0.99 |
| Alpha | −0.38% | −1.26% |
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 | JioBlackRock Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +4.51% | −7.16% |
| Standard deviation | 13.84% | 14.27% |
| Sharpe ratio | -0.07 | -0.87 |
| Sortino ratio | -0.09 | -1.16 |
| Maximum drawdown | −14.8% (31-03-2026) | −14.3% (30-03-2026) |
| Beta | 1.00 | 0.99 |
| Alpha | −0.43% | −1.13% |
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
JioBlackRock 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% |
| JioBlackRock Flexi Cap Fund (Direct) | −14.3% | 11-02-2026 | 30-03-2026 | Not yet | -- | −9.8% |
| Nifty 200 TRI | −14.8% | 02-01-2026 | 30-03-2026 | Not yet | -- | −9.4% |
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.
Groww NIFTY 200 ETF
JioBlackRock Flexi Cap Fund (Direct)
Nifty 200 TRI
Against Nifty 200 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Groww NIFTY 200 ETF | 98% | 101% | 0.06% |
| JioBlackRock Flexi Cap Fund (Direct) | 79% | 89% | 3.73% |
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.
Groww NIFTY 200 ETF vs JioBlackRock Flexi Cap: Portfolio Overlap
From each fund's latest monthly portfolio: Groww NIFTY 200 ETF, September 2026; JioBlackRock Flexi Cap Fund, September 2026
Holdings in common
- Overlap
- 48.6%
- Held by both
- 71
- Only in Groww NIFTY 200 ETF
- 129
- Only in JioBlackRock Flexi Cap
- 66
| Security | % of Groww NIFTY 200 ETF | % of JioBlackRock Flexi Cap |
|---|---|---|
| HDFC Bank Limited | 6.72% | 5.90% |
| ICICI Bank Limited | 5.86% | 5.69% |
| Bharti Airtel Limited | 3.31% | 4.31% |
| Reliance Industries Limited | 4.91% | 3.05% |
| State Bank of India | 2.45% | 3.53% |
| Infosys Limited | 2.17% | 1.90% |
| Mahindra & Mahindra Limited | 1.63% | 2.88% |
| Larsen & Toubro Limited | 2.72% | 1.60% |
| Tata Consultancy Services Limited | 1.29% | 1.45% |
| Titan Company Limited | 1.17% | 1.13% |
| Bajaj Finance Limited | 1.62% | 1.02% |
| Tata Steel Limited | 0.95% | 2.28% |
| HCL Technologies Limited | 0.80% | 1.02% |
| UltraTech Cement Limited | 0.80% | 1.33% |
| JSW Steel Limited | 0.75% | 0.82% |
| Asian Paints Limited | 0.67% | 0.69% |
| Coal India Limited | 0.63% | 1.05% |
| TVS Motor Company Limited | 0.60% | 0.89% |
| Nestle India Limited | 0.58% | 1.65% |
| Hindalco Industries Limited | 0.84% | 0.55% |
| Tata Motors Limited | 0.55% | 0.81% |
| Oil & Natural Gas Corporation Limited | 0.54% | 1.92% |
| Axis Bank Limited | 2.18% | 0.52% |
| Bajaj Finserv Limited | 0.62% | 0.46% |
| Samvardhana Motherson International Ltd | 0.45% | 0.46% |
| Apollo Hospitals Enterprise Limited | 0.51% | 0.44% |
| Hero MotoCorp Limited | 0.42% | 1.18% |
| Bharat Heavy Electricals Limited | 0.37% | 1.03% |
| Sun Pharmaceutical Industries Limited | 1.19% | 0.35% |
| ITC Limited | 1.57% | 0.34% |
| Dixon Technologies (India) Limited | 0.33% | 0.75% |
| GE Vernova T&D India Limited | 0.32% | 0.57% |
| Indian Oil Corporation Limited | 0.31% | 1.56% |
| Lenskart Solutions Limited | 0.31% | 0.68% |
| Life Insurance Corporation Of India | 0.31% | 1.76% |
| Lupin Limited | 0.31% | 1.60% |
| Power Finance Corporation Limited | 0.29% | 1.05% |
| Bajaj Holdings & Investment.Ltd | 0.29% | 0.31% |
| Solar Industries India Limited | 0.29% | 0.33% |
| HDFC Asset Management Company Limited | 0.29% | 0.74% |
| Aurobindo Pharma Limited | 0.29% | 1.24% |
| GAIL (India) Limited | 0.28% | 0.30% |
| Adani Energy Solutions Limited | 0.26% | 1.12% |
| Polycab India Limited | 0.26% | 1.44% |
| Marico Limited | 0.26% | 0.27% |
| Adani Port & Special Economic Zone Ltd | 0.87% | 0.26% |
| Punjab National Bank | 0.24% | 0.98% |
| Hitachi Energy India Limited | 0.23% | 0.67% |
| REC Limited | 0.23% | 0.26% |
| Yes Bank Ltd | 0.23% | 1.20% |
| Max Financial Services Limited | 0.22% | 0.51% |
| IDFC First Bank Limited | 0.33% | 0.22% |
| Glenmark Pharmaceuticals Limited | 0.22% | 0.62% |
| Multi Commodity Exchange of India Ltd. | 0.52% | 0.21% |
| Radico Khaitan Limited | 0.21% | 1.55% |
| APAR INDUSTRIES LTD | 0.20% | 0.52% |
| The Federal Bank Limited | 0.48% | 0.17% |
| Siemens Energy India Limited | 0.17% | 0.38% |
| KEI Industries Limited | 0.17% | 0.46% |
| Billionbrains Garage Ventures Ltd. | 0.16% | 0.31% |
| Steel Authority of India Limited | 0.16% | 1.57% |
| Oracle Financial Services Software | 0.16% | 0.66% |
| NTPC Limited | 0.95% | 0.14% |
| Shriram Finance Limited | 0.85% | 0.13% |
| BSE Ltd | 0.78% | 0.13% |
| L&T Finance Limited | 0.14% | 0.12% |
| ICICI Prudential AMC Ltd | 0.11% | 0.17% |
| Bharat Petroleum Corporation Limited | 0.38% | 0.10% |
| Bank of India | 0.10% | 0.24% |
| Coforge Limited | 0.38% | 0.09% |
| Kotak Mahindra Bank Limited | 1.90% | 0.07% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 48.6% means 48.6% 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 |
|---|---|
| Eternal Limited | 1.43% |
| Hindustan Unilever Limited | 1.03% |
| Maruti Suzuki India Limited | 0.96% |
| Bharat Electronics Limited | 0.86% |
| Bajaj Auto Limited | 0.73% |
Largest holdings only in JioBlackRock Flexi Cap Fund
| Security | % of fund |
|---|---|
| Navin Fluorine International Ltd | 1.51% |
| Apollo Tyres Ltd | 1.47% |
| Nippon Life India Asset Management Ltd | 1.46% |
| Welspun Living Ltd | 1.24% |
| Ujjivan Small Finance Bank Ltd | 0.90% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Groww NIFTY 200 ETF | JioBlackRock Flexi Cap |
|---|---|---|
| Equity | 99.9% | 99.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 0.1% | 1.0% |
Market cap of stocks
| Market cap | Groww NIFTY 200 ETF | JioBlackRock Flexi Cap |
|---|---|---|
| Large Cap | 79.6% | 60.6% |
| Mid Cap | 19.9% | 18.9% |
| Small Cap | 0.3% | 19.3% |
| Not on AMFI's list | 0.0% | 0.2% |
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 | JioBlackRock Flexi Cap |
|---|---|---|
| Banks | 22.2% | 19.8% |
| IT - Software | 6.4% | 5.3% |
| Finance | 5.9% | 4.7% |
| Petroleum Products | 5.8% | 5.4% |
| Automobiles | 5.5% | 5.5% |
| Pharmaceuticals & Biotechnology | 5.1% | 5.5% |
| Ferrous Metals | 2.1% | 4.7% |
The six largest sectors of each fund's stocks, % of the fund.
Groww NIFTY 200 ETF vs JioBlackRock Flexi Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Groww NIFTY 200 ETF | JioBlackRock Flexi Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | Not available | 1.11% |
| Base expense ratio (Direct) | 0.35% | 0.50% |
| Total expense ratio (Regular) | Not available | 2.34% |
| Base expense ratio (Regular) | 0.00% | 1.50% |
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 JioBlackRock Flexi Cap Fund: Frequently Asked Questions
What is the difference between Groww NIFTY 200 ETF and JioBlackRock Flexi Cap Fund?
Groww NIFTY 200 ETF is an ETF fund, JioBlackRock Flexi Cap Fund is a Flexi Cap fund, run by Groww Mutual Fund and Jio BlackRock Mutual Fund. Their portfolios overlap 48.6%. Groww NIFTY 200 ETF charges 0.43% a year and JioBlackRock Flexi Cap Fund 1.11%.
Which has given higher returns, Groww NIFTY 200 ETF or JioBlackRock Flexi Cap Fund?
Over 1 year: Groww NIFTY 200 ETF −8.21%, JioBlackRock Flexi Cap Fund −8.49%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Groww NIFTY 200 ETF or JioBlackRock Flexi Cap Fund?
Groww NIFTY 200 ETF charges less: 0.43% a year against 1.11%. These are the total expense ratios reported to AMFI.
How much do Groww NIFTY 200 ETF and JioBlackRock Flexi Cap Fund overlap?
48.6%. They hold 71 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, BHARTIARTL. From each fund's latest monthly portfolio.
Which is riskier, Groww NIFTY 200 ETF or JioBlackRock Flexi Cap Fund?
On SEBI's riskometer, Groww NIFTY 200 ETF is rated Very High and JioBlackRock Flexi Cap Fund Very High. Over 1 years, the standard deviation of daily returns was 14.33% and 14.47% a year.
Can I invest in both Groww NIFTY 200 ETF and JioBlackRock Flexi Cap Fund?
Yes. 48.6% 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 JioBlackRock Flexi Cap Fund?
Groww NIFTY 200 ETF: Nikhil Satam, Aakash Chauhan, Shashi Kumar. JioBlackRock Flexi Cap Fund: Sahil Chaudhary, Tanvi Kacheria.
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.