Groww Nifty Midcap 150 ETF vs Zerodha Nifty MidSmallcap400 50:50 Index Fund
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
Groww Nifty Midcap 150 ETF is an ETF fund and Zerodha Nifty MidSmallcap400 50:50 Index Fund is an Index fund. Groww Nifty Midcap 150 ETF charges 0.32% a year and Zerodha Nifty MidSmallcap400 50:50 Index Fund 0.86%. Their portfolios overlap 49.8%: they hold 150 of the same securities.
Zerodha Nifty MidSmallcap400 50:50 Index Fund
Index
- Expense ratio
- 0.86%
- NAV
- ₹10.41
Which is better, Groww Nifty Midcap 150 ETF or Zerodha Nifty MidSmallcap400 50:50 Index? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Groww Nifty Midcap 150 ETF costs less: 0.32% a year against 0.86%.
- Zerodha Nifty MidSmallcap400 50:50 Index fell less in its worst fall since 13-04-2026: −12.0% against −12.6%.
- Zerodha Nifty MidSmallcap400 50:50 Index is the larger fund: ₹19 Cr against ₹6 Cr.
- Their portfolios overlap 49.8%: 150 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 Midcap 150 ETF | Zerodha Nifty MidSmallcap400 50:50 Index Fund |
|---|---|---|
| Fund house | Groww Mutual Fund | Zerodha Mutual Fund |
| Category | ETF | Index |
| AUM | ₹6 Cr (30-09-2026) | ₹19 Cr (30-09-2026) |
| NAV | ₹210.96 | ₹10.41 (Direct) |
| Expense ratio (Direct) | Not available | 0.86% |
| Expense ratio (Regular) | Not available | Not available |
| Riskometer | Very High | Very High |
| Benchmark | Nifty Next 50 TRI | Nifty MidSmallcap400 50:50 TRI |
| Launch date | 13-11-2025 | 09-04-2026 |
| Minimum investment | 1 Unit | ₹100 |
| Lock in | None | None |
| Fund managers | Aakash Chauhan, Nikhil Satam, Shashi Kumar | Kedarnath Mirajkar |
| Exit load | Nil | Nil |
Groww Nifty Midcap 150 ETF vs Zerodha Nifty MidSmallcap400 50:50 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 |
|---|---|---|---|---|---|---|---|
| Groww Nifty Midcap 150 ETF | −3.70% | −8.63% | −4.22% | -- | -- | -- | -- |
| Zerodha Nifty MidSmallcap400 50:50 Index Fund (Direct) | −4.73% | −7.35% | −1.96% | -- | -- | -- | -- |
Groww Nifty Midcap 150 ETF vs Zerodha Nifty MidSmallcap400 50:50 Index: Year-wise Returns
| Year | Groww Nifty Midcap 150 ETFGroww Nifty Midcap 150 ETF | Zerodha Nifty MidSmallcap400 50:50 IndexZerodha Nifty MidSmallcap400 50:50 Index |
|---|---|---|
| 2026to date | −5.30% | -- |
Groww Nifty Midcap 150 ETF vs Zerodha Nifty MidSmallcap400 50:50 Index: Rolling Returns
Every holding period of both funds, against Nifty Next 50 TRI, the benchmark of Groww Nifty Midcap 150 ETF
Groww Nifty Midcap 150 ETF vs Zerodha Nifty MidSmallcap400 50:50 Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Groww Nifty Midcap 150 ETF | Zerodha Nifty MidSmallcap400 50:50 Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | −5.77% | +5.82% |
| Standard deviation | 16.86% | 14.76% |
| Sharpe ratio | -0.65 | 0.04 |
| Sortino ratio | -0.87 | 0.05 |
| Maximum drawdown | −13.9% (31-03-2026) | −12.0% (23-10-2026) |
| Beta | 0.90 | 1.00 |
| Alpha | −4.32% | −0.71% |
From daily NAVs, 14-11-2025 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 Midcap 150 ETF
Zerodha Nifty MidSmallcap400 50:50 Index Fund (Direct)
Nifty Next 50 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Groww Nifty Midcap 150 ETF | −12.6% | 31-08-2026 | 23-10-2026 | Not yet | -- | −10.7% |
| Zerodha Nifty MidSmallcap400 50:50 Index Fund (Direct) | −12.0% | 28-08-2026 | 23-10-2026 | Not yet | -- | −10.0% |
| Nifty Next 50 TRI | −11.8% | 10-08-2026 | 23-10-2026 | Not yet | -- | −9.3% |
From daily values since 13-04-2026, the first day every fund has.
Groww Nifty Midcap 150 ETF vs Zerodha Nifty MidSmallcap400 50:50 Index: Portfolio Overlap
From each fund's latest monthly portfolio: Groww Nifty Midcap 150 ETF, September 2026; Zerodha Nifty MidSmallcap400 50:50 Index Fund, September 2026
Holdings in common
- Overlap
- 49.8%
- Held by both
- 150
- Only in Groww Nifty Midcap 150 ETF
- 0
- Only in Zerodha Nifty MidSmallcap400 50:50 Index
- 248
| Security | % of Groww Nifty Midcap 150 ETF | % of Zerodha Nifty MidSmallcap400 50:50 Index |
|---|---|---|
| Multi Commodity Exchange of India Ltd. | 2.07% | 1.04% |
| The Federal Bank Limited | 1.93% | 0.97% |
| Laurus Labs Limited | 1.90% | 0.95% |
| One 97 Communications Limited | 1.78% | 0.89% |
| Hero MotoCorp Limited | 1.68% | 0.84% |
| The Indian Hotels Company Limited | 1.58% | 0.78% |
| Coforge Limited | 1.50% | 0.75% |
| Bharat Heavy Electricals Limited | 1.49% | 0.75% |
| IndusInd Bank Limited | 1.47% | 0.73% |
| AU Small Finance Bank Limited | 1.45% | 0.72% |
| PERSISTENT SYSTEMS LTD | 1.42% | 0.70% |
| Dixon Technologies (India) Limited | 1.35% | 0.67% |
| IDFC First Bank Limited | 1.33% | 0.67% |
| Bharat Forge Limited | 1.32% | 0.66% |
| GE Vernova T&D India Limited | 1.28% | 0.65% |
| Lenskart Solutions Limited | 1.24% | 0.62% |
| Life Insurance Corporation Of India | 1.24% | 0.62% |
| Lupin Limited | 1.21% | 0.60% |
| Suzlon Energy Limited | 1.19% | 0.59% |
| Indus Towers Limited | 1.19% | 0.59% |
| Info Edge (India) Limited | 1.17% | 0.59% |
| Aurobindo Pharma Limited | 1.14% | 0.56% |
| Ashok Leyland Limited | 1.09% | 0.55% |
| FSN E-Commerce Ventures Limited | 1.08% | 0.54% |
| Marico Limited | 1.03% | 0.52% |
| Fortis Healthcare Limited | 0.99% | 0.50% |
| United Spirits Limited | 0.99% | 0.49% |
| APL Apollo Tubes Limited | 0.98% | 0.49% |
| ICICI Lombard General Insurance Company | 0.95% | 0.48% |
| Embassy Office Parks REIT | 0.94% | 0.47% |
| PB Fintech Limited | 0.93% | 0.47% |
| SWIGGY LIMITED | 0.93% | 0.46% |
| REC Limited | 0.92% | 0.46% |
| Yes Bank Ltd | 0.91% | 0.45% |
| The Phoenix Mills Limited | 0.89% | 0.45% |
| Max Financial Services Limited | 0.90% | 0.44% |
| SRF Limited | 0.88% | 0.44% |
| Glenmark Pharmaceuticals Limited | 0.87% | 0.43% |
| Radico Khaitan Limited | 0.84% | 0.42% |
| Lodha Developers Limited | 0.83% | 0.41% |
| Hindustan Petroleum Corporation Limited | 0.83% | 0.41% |
| Aditya Birla Capital Limited | 0.80% | 0.41% |
| GMR Airports Limited | 0.81% | 0.40% |
| APAR INDUSTRIES LTD | 0.78% | 0.39% |
| Alkem Laboratories Limited | 0.76% | 0.39% |
| National Aluminium Company Limited | 0.75% | 0.37% |
| JSW Energy Limited | 0.75% | 0.37% |
| UPL Limited | 0.75% | 0.37% |
| Sundaram Finance Limited | 0.74% | 0.37% |
| Shree Cement Limited | 0.70% | 0.36% |
| MphasiS Limited | 0.70% | 0.35% |
| Indian Bank | 0.70% | 0.35% |
| Vishal Mega Mart Limited | 0.70% | 0.35% |
| Mankind Pharma Limited | 0.70% | 0.35% |
| NHPC Limited | 0.68% | 0.34% |
| KEI Industries Limited | 0.67% | 0.34% |
| 360 ONE WAM LIMITED | 0.67% | 0.34% |
| IPCA Laboratories Limited | 0.66% | 0.33% |
| Lloyds Metals And Energy Limited | 0.63% | 0.33% |
| Piramal Finance Ltd | 0.66% | 0.32% |
| NMDC Limited | 0.65% | 0.32% |
| Billionbrains Garage Ventures Ltd. | 0.65% | 0.32% |
| Steel Authority of India Limited | 0.65% | 0.32% |
| Biocon Limited | 0.64% | 0.32% |
| Oracle Financial Services Software | 0.62% | 0.32% |
| Havells India Limited | 0.63% | 0.31% |
| TUBE INVESTMENTS OF INDIA LTD | 0.62% | 0.31% |
| Prestige Estates Projects Limited | 0.62% | 0.30% |
| Oil India Limited | 0.60% | 0.30% |
| Voltas Limited | 0.60% | 0.30% |
| Torrent Power Limited | 0.58% | 0.29% |
| Jindal Stainless Limited | 0.58% | 0.29% |
| Colgate Palmolive (India) Limited | 0.57% | 0.29% |
| WAAREE ENERGIES LIMITED | 0.56% | 0.28% |
| L&T Finance Limited | 0.56% | 0.28% |
| Dabur India Limited | 0.55% | 0.27% |
| Supreme Industries Limited | 0.54% | 0.27% |
| Page Industries Limited | 0.54% | 0.27% |
| Godrej Properties Limited | 0.54% | 0.27% |
| MRF Limited | 0.62% | 0.26% |
| Mahindra & Mahindra Financial Serv Ltd. | 0.53% | 0.26% |
| Petronet LNG Limited | 0.53% | 0.26% |
| JSW Infrastructure Limited | 0.52% | 0.26% |
| KALYAN JEWELLERS INDIA LIMITED | 0.52% | 0.26% |
| UNO Minda Limited | 0.52% | 0.26% |
| JK Cement Limited | 0.52% | 0.26% |
| Coromandel International Limited | 0.52% | 0.25% |
| Meesho Limited | 0.52% | 0.25% |
| Oberoi Realty Limited | 0.51% | 0.25% |
| BLUE STAR LTD | 0.49% | 0.24% |
| Tata Communications Limited | 0.48% | 0.24% |
| Nippon Life India Asset Management Ltd | 0.48% | 0.23% |
| Exide Industries Limited | 0.46% | 0.23% |
| Aster DM Healthcare Limited | 0.46% | 0.23% |
| PI Industries Limited | 0.46% | 0.23% |
| Gujarat Fluorochemicals Limited | 0.45% | 0.23% |
| ITC Hotels Limited | 0.45% | 0.22% |
| ICICI Prudential AMC Ltd | 0.45% | 0.22% |
| Hindustan Copper Limited | 0.45% | 0.22% |
| Jubilant Foodworks Limited | 0.44% | 0.22% |
| ICICI Prudential Life Insurance Company | 0.43% | 0.22% |
| LG Electronics India Limited | 0.43% | 0.21% |
| SBI Cards and Payment Services Limited | 0.42% | 0.21% |
| Balkrishna Industries Limited | 0.42% | 0.21% |
| Ajanta Pharma Limited | 0.40% | 0.21% |
| Astral Limited | 0.41% | 0.20% |
| Adani Total Gas Limited | 0.41% | 0.20% |
| Bank of Maharashtra | 0.40% | 0.20% |
| LIC Housing Finance Limited | 0.39% | 0.19% |
| Bank of India | 0.39% | 0.19% |
| Motilal Oswal Financial Services Limited | 0.39% | 0.19% |
| Container Corporation of India Limited | 0.38% | 0.19% |
| Schaeffler India Ltd | 0.38% | 0.19% |
| AIA Engineering Limited | 0.37% | 0.18% |
| Authum Investment & Infrastructure Ltd. | 0.36% | 0.18% |
| Indian Railway Catering & Tourism Corp | 0.34% | 0.17% |
| Abbott India Limited | 0.31% | 0.17% |
| Dalmia Bharat Limited | 0.33% | 0.16% |
| HDB Financial Services Limited | 0.33% | 0.16% |
| Linde India Limited | 0.32% | 0.16% |
| General Insurance Corporation of India | 0.32% | 0.16% |
| Thermax Limited | 0.32% | 0.16% |
| Berger Paints (I) Limited | 0.32% | 0.16% |
| Cochin Shipyard Limited | 0.31% | 0.16% |
| Premier Energies Limited | 0.31% | 0.16% |
| Patanjali Foods Limited | 0.31% | 0.15% |
| Narayana Hrudayalaya Limited | 0.30% | 0.15% |
| K.P.R. Mill Ltd | 0.30% | 0.15% |
| GLOBAL HEALTH LIMITED | 0.30% | 0.15% |
| Rail Vikas Nigam Limited | 0.28% | 0.14% |
| GlaxoSmithKline Pharmaceuticals Ltd | 0.28% | 0.14% |
| CRISIL Limited | 0.27% | 0.13% |
| Bharti Hexacom Limited | 0.26% | 0.13% |
| Bharat Dynamics Limited | 0.25% | 0.13% |
| Neyveli Lignite Corporation Ltd. | 0.23% | 0.12% |
| Anthem Biosciences Limited | 0.23% | 0.12% |
| Endurance Technologies Limited | 0.23% | 0.11% |
| Bajaj Housing Finance Ltd | 0.22% | 0.11% |
| Escorts Kubota Limited | 0.22% | 0.11% |
| L&T Technology Services Ltd | 0.22% | 0.11% |
| Indian Renewable Energy Dev Agency Ltd | 0.22% | 0.11% |
| NTPC Green Energy Limited | 0.21% | 0.11% |
| Housing and Urban Development Corp. Ltd. | 0.21% | 0.10% |
| United Breweries Limited | 0.21% | 0.10% |
| Tata Investment Corporation Ltd. | 0.20% | 0.10% |
| Godfrey Phillips India Limited | 0.19% | 0.10% |
| Hexaware Technologies Limited | 0.18% | 0.09% |
| Fertilizers and Chemicals Travancore Ltd | 0.12% | 0.06% |
| Indian Overseas Bank | 0.11% | 0.05% |
| Godrej Industries Ltd | 0.11% | 0.05% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 49.8% means 49.8% 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 Midcap 150 ETF
Every holding of this fund is also held by the other.
Largest holdings only in Zerodha Nifty MidSmallcap400 50:50 Index Fund
| Security | % of fund |
|---|---|
| Sona BLW Precision Forgings Limited | 0.84% |
| WELSPUN CORP LTD | 0.81% |
| Karur Vysya Bank Limited | 0.69% |
| Navin Fluorine International Limited | 0.68% |
| Ather Energy Limited | 0.61% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Groww Nifty Midcap 150 ETF | Zerodha Nifty MidSmallcap400 50:50 Index |
|---|---|---|
| Equity | 98.9% | 97.7% |
| Debt | 0.0% | 0.0% |
| Cash and others | 1.1% | 2.3% |
Market cap of stocks
| Market cap | Groww Nifty Midcap 150 ETF | Zerodha Nifty MidSmallcap400 50:50 Index |
|---|---|---|
| Large Cap | 5.7% | 2.9% |
| Mid Cap | 90.7% | 46.6% |
| Small Cap | 2.5% | 47.9% |
| Not on AMFI's list | 0.0% | 0.5% |
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 Midcap 150 ETF | Zerodha Nifty MidSmallcap400 50:50 Index |
|---|---|---|
| Pharmaceuticals & Biotechnology | 9.1% | 8.4% |
| Banks | 8.7% | 6.9% |
| Finance | 6.8% | 7.3% |
| Auto Components | 4.6% | 6.5% |
| Electrical Equipment | 5.9% | 4.3% |
| Industrial Products | 3.0% | 5.7% |
| Retailing | 5.6% | 3.4% |
| Capital Markets | 4.7% | 5.0% |
The six largest sectors of each fund's stocks, % of the fund.
Groww Nifty Midcap 150 ETF vs Zerodha Nifty MidSmallcap400 50:50 Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Groww Nifty Midcap 150 ETF | Zerodha Nifty MidSmallcap400 50:50 Index Fund |
|---|---|---|
| Total expense ratio (Direct) | Not available | 0.86% |
| Base expense ratio (Direct) | 0.21% | 0.25% |
| Base expense ratio (Regular) | 0.00% | 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.
Groww Nifty Midcap 150 ETF vs Zerodha Nifty MidSmallcap400 50:50 Index Fund: Frequently Asked Questions
What is the difference between Groww Nifty Midcap 150 ETF and Zerodha Nifty MidSmallcap400 50:50 Index Fund?
Groww Nifty Midcap 150 ETF is an ETF fund, Zerodha Nifty MidSmallcap400 50:50 Index Fund is an Index fund, run by Groww Mutual Fund and Zerodha Mutual Fund. Their portfolios overlap 49.8%. Groww Nifty Midcap 150 ETF charges 0.32% a year and Zerodha Nifty MidSmallcap400 50:50 Index Fund 0.86%.
Which has the lower expense ratio, Groww Nifty Midcap 150 ETF or Zerodha Nifty MidSmallcap400 50:50 Index Fund?
Groww Nifty Midcap 150 ETF charges less: 0.32% a year against 0.86%. These are the total expense ratios reported to AMFI.
How much do Groww Nifty Midcap 150 ETF and Zerodha Nifty MidSmallcap400 50:50 Index Fund overlap?
49.8%. They hold 150 of the same securities, the largest shared ones being MCX, FEDERALBNK, LAURUSLABS. From each fund's latest monthly portfolio.
Which is riskier, Groww Nifty Midcap 150 ETF or Zerodha Nifty MidSmallcap400 50:50 Index Fund?
On SEBI's riskometer, Groww Nifty Midcap 150 ETF is rated Very High and Zerodha Nifty MidSmallcap400 50:50 Index Fund Very High. Over their common history, the standard deviation of daily returns was 16.86% and 14.76% a year.
Can I invest in both Groww Nifty Midcap 150 ETF and Zerodha Nifty MidSmallcap400 50:50 Index Fund?
Yes. 49.8% 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 Midcap 150 ETF and Zerodha Nifty MidSmallcap400 50:50 Index Fund?
Groww Nifty Midcap 150 ETF: Aakash Chauhan, Nikhil Satam, Shashi Kumar. Zerodha Nifty MidSmallcap400 50:50 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.