Groww Nifty Smallcap 250 Momentum Quality 100 Index Fund vs Zerodha Nifty Smallcap 100 ETF
Direct Plan, Growth option · Data as on 30-10-2026
Groww Nifty Smallcap 250 Momentum Quality 100 Index Fund is an Index fund and Zerodha Nifty Smallcap 100 ETF is an ETF fund. Groww Nifty Smallcap 250 Momentum Quality 100 Index Fund charges 1.38% a year and Zerodha Nifty Smallcap 100 ETF 0.35% (Direct plans). Their portfolios overlap 45.1%: they hold 38 of the same securities.
Groww Nifty Smallcap 250 Momentum Quality 100 Index Fund
Index
- Expense ratio
- 1.38%
- NAV
- ₹9.95
Which is better, Groww Nifty Smallcap 250 Momentum Quality 100 Index or Zerodha Nifty Smallcap 100 ETF? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Zerodha Nifty Smallcap 100 ETF costs less: 0.35% a year against 1.38% (Direct plans).
- Groww Nifty Smallcap 250 Momentum Quality 100 Index fell less in its worst fall since 19-06-2026: −10.2% against −12.1%.
- Zerodha Nifty Smallcap 100 ETF is the larger fund: ₹101 Cr against ₹9 Cr.
- Their portfolios overlap 45.1%: 38 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 Smallcap 250 Momentum Quality 100 Index Fund | Zerodha Nifty Smallcap 100 ETF |
|---|---|---|
| Fund house | Groww Mutual Fund | Zerodha Mutual Fund |
| Category | Index | ETF |
| AUM | ₹9 Cr (30-09-2026) | ₹101 Cr (30-09-2026) |
| NAV | ₹9.95 (Direct) | ₹10.48 (Direct) |
| Expense ratio (Direct) | 1.38% | 0.35% |
| Expense ratio (Regular) | 1.95% | Not available |
| Riskometer | Very High | Very High |
| Benchmark | Nifty Smallcap 250 Momentum Quality 100 TRI | Nifty Smallcap 100 TRI |
| Launch date | 17-06-2026 | 09-09-2025 |
| Minimum investment | ₹500 | In creation unit size of 1,50,000 Units and in multiples of 10 units thereof |
| Lock in | None | None |
| Fund managers | Aakash Chauhan, Nikhil Satam, Shashi Kumar | Kedarnath Mirajkar |
| Exit load | Nil | Nil |
Groww Nifty Smallcap 250 Momentum Quality 100 Index vs Zerodha Nifty Smallcap 100 ETF: 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 Smallcap 250 Momentum Quality 100 Index Fund (Direct) | −4.67% | −2.41% | -- | -- | -- | -- | -- |
| Zerodha Nifty Smallcap 100 ETF (Direct) | −4.23% | −4.17% | +2.78% | +0.72% | -- | -- | -- |
Groww Nifty Smallcap 250 Momentum Quality 100 Index vs Zerodha Nifty Smallcap 100 ETF: Year-wise Returns
| Year | Groww Nifty Smallcap 250 Momentum Quality 100 IndexGroww Nifty Smallcap 250 Momentum Quality 100 Index | Zerodha Nifty Smallcap 100 ETFZerodha Nifty Smallcap 100 ETF |
|---|---|---|
| 2026to date | -- | +4.86% |
Groww Nifty Smallcap 250 Momentum Quality 100 Index vs Zerodha Nifty Smallcap 100 ETF: Rolling Returns
Every holding period of both funds, against Nifty Smallcap250 Momentum Quality 100 TRI, the benchmark of Groww Nifty Smallcap 250 Momentum Quality 100 Index Fund
Groww Nifty Smallcap 250 Momentum Quality 100 Index vs Zerodha Nifty Smallcap 100 ETF: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Groww Nifty Smallcap 250 Momentum Quality 100 Index Fund (Direct) | Zerodha Nifty Smallcap 100 ETF (Direct) |
|---|---|---|
| Return (CAGR) | −3.99% | +3.02% |
| Standard deviation | 16.22% | 18.41% |
| Sharpe ratio | -0.57 | -0.12 |
| Sortino ratio | -0.72 | -0.17 |
| Maximum drawdown | −10.2% (23-10-2026) | −18.1% (23-03-2026) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.47% | +0.11% |
From daily NAVs, 19-06-2026 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 Smallcap 250 Momentum Quality 100 Index Fund (Direct)
Zerodha Nifty Smallcap 100 ETF (Direct)
Nifty Smallcap250 Momentum Quality 100 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Groww Nifty Smallcap 250 Momentum Quality 100 Index Fund (Direct) | −10.2% | 08-09-2026 | 23-10-2026 | Not yet | -- | −7.8% |
| Zerodha Nifty Smallcap 100 ETF (Direct) | −12.1% | 08-09-2026 | 23-10-2026 | Not yet | -- | −8.5% |
| Nifty Smallcap250 Momentum Quality 100 TRI | −10.1% | 08-09-2026 | 23-10-2026 | Not yet | -- | −7.8% |
From daily values since 19-06-2026, the first day every fund has.
Groww Nifty Smallcap 250 Momentum Quality 100 Index vs Zerodha Nifty Smallcap 100 ETF: Portfolio Overlap
From each fund's latest monthly portfolio: Groww Nifty Smallcap 250 Momentum Quality 100 Index Fund, September 2026; Zerodha Nifty Smallcap 100 ETF, September 2026
Holdings in common
- Overlap
- 45.1%
- Held by both
- 38
- Only in Groww Nifty Smallcap 250 Momentum Quality 100 Index
- 62
- Only in Zerodha Nifty Smallcap 100 ETF
- 60
| Security | % of Groww Nifty Smallcap 250 Momentum Quality 100 Index | % of Zerodha Nifty Smallcap 100 ETF |
|---|---|---|
| Sona BLW Precision Forgings Limited | 3.67% | 3.01% |
| WELSPUN CORP LTD | 4.76% | 2.87% |
| Karur Vysya Bank Limited | 3.18% | 2.47% |
| Navin Fluorine International Limited | 3.20% | 2.45% |
| Gland Pharma Limited | 2.96% | 1.86% |
| Central Depository Services (India) Ltd. | 1.99% | 1.81% |
| City Union Bank Limited | 1.76% | 1.75% |
| Redington Limited | 1.69% | 1.95% |
| Anand Rathi Wealth Limited | 3.01% | 1.56% |
| Neuland Laboratories Ltd | 2.05% | 1.48% |
| Angel One Limited | 1.82% | 1.44% |
| AEGIS LOGISTICS LTD | 2.13% | 1.40% |
| Manappuram Finance Limited | 1.38% | 1.40% |
| Acutaas Chemicals Limited | 2.80% | 1.37% |
| Computer Age Management Services Limited | 2.00% | 1.30% |
| Himadri Speciality Chemical Limited | 2.00% | 1.29% |
| The Great Eastern Shipping Company Ltd | 1.93% | 1.25% |
| Dr. Lal Path Labs Ltd. | 1.69% | 1.25% |
| PNB Housing Finance Limited | 1.20% | 1.70% |
| Amber Enterprises India Limited | 1.09% | 1.18% |
| Data Patterns (India) Limited | 1.78% | 1.05% |
| Crompton Greaves Consumer Electrical Ltd | 1.00% | 1.08% |
| CAPRI GLOBAL CAPITAL LTD | 1.00% | 0.77% |
| HBL Engineering Limited | 0.82% | 0.72% |
| FORCE MOTORS LTD. | 0.79% | 0.67% |
| ANANT RAJ LIMITED | 0.64% | 0.74% |
| Amara Raja Energy & Mobility Limited | 0.64% | 0.74% |
| Affle (India) Limited | 0.63% | 0.77% |
| Natco Pharma Limited | 0.70% | 0.60% |
| Chennai Petroleum Corporation Ltd. | 0.72% | 0.56% |
| Creditaccess Grameen Limited | 0.57% | 0.56% |
| PG Electroplast Limited | 0.56% | 0.64% |
| ITD CEMENTATION INDIA LIMITED | 0.75% | 0.53% |
| GARDEN REACH SHIPBUILDERS & ENGINEER LTD | 0.61% | 0.52% |
| TRIVENI TURBINE LTD. | 0.78% | 0.51% |
| BEML Limited | 0.47% | 0.61% |
| Godawari Power And Ispat limited | 0.52% | 0.44% |
| Gujarat Mineral Development Corp. | 0.37% | 0.34% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 45.1% means 45.1% 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 Smallcap 250 Momentum Quality 100 Index Fund
| Security | % of fund |
|---|---|
| HFCL Limited | 3.15% |
| Granules India Limited | 1.68% |
| Hindustan Copper Limited | 1.65% |
| Elgi Equipments Limited | 1.36% |
| FINOLEX CABLES LTD | 1.31% |
Largest holdings only in Zerodha Nifty Smallcap 100 ETF
| Security | % of fund |
|---|---|
| Ather Energy Limited | 2.18% |
| RBL Bank Limited | 2.01% |
| Delhivery Limited | 1.99% |
| Sai Life Sciences Ltd. | 1.70% |
| Cupid Ltd. | 1.69% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Groww Nifty Smallcap 250 Momentum Quality 100 Index | Zerodha Nifty Smallcap 100 ETF |
|---|---|---|
| Equity | 99.8% | 95.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 0.2% | 5.0% |
Market cap of stocks
| Market cap | Groww Nifty Smallcap 250 Momentum Quality 100 Index | Zerodha Nifty Smallcap 100 ETF |
|---|---|---|
| Large Cap | 0.0% | 0.0% |
| Mid Cap | 6.2% | 4.7% |
| Small Cap | 93.6% | 88.9% |
| Not on AMFI's list | 0.0% | 1.4% |
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 Smallcap 250 Momentum Quality 100 Index | Zerodha Nifty Smallcap 100 ETF |
|---|---|---|
| Industrial Products | 11.3% | 6.4% |
| Pharmaceuticals & Biotechnology | 10.9% | 11.0% |
| Capital Markets | 10.7% | 8.1% |
| Finance | 5.4% | 9.2% |
| Banks | 5.8% | 8.0% |
| Auto Components | 7.4% | 6.1% |
The six largest sectors of each fund's stocks, % of the fund.
Groww Nifty Smallcap 250 Momentum Quality 100 Index vs Zerodha Nifty Smallcap 100 ETF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Groww Nifty Smallcap 250 Momentum Quality 100 Index Fund | Zerodha Nifty Smallcap 100 ETF |
|---|---|---|
| Total expense ratio (Direct) | 1.38% | 0.35% |
| Base expense ratio (Direct) | 0.40% | 0.18% |
| Total expense ratio (Regular) | 1.95% | Not available |
| Base expense ratio (Regular) | 0.90% | 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 Smallcap 250 Momentum Quality 100 Index Fund vs Zerodha Nifty Smallcap 100 ETF: Frequently Asked Questions
What is the difference between Groww Nifty Smallcap 250 Momentum Quality 100 Index Fund and Zerodha Nifty Smallcap 100 ETF?
Groww Nifty Smallcap 250 Momentum Quality 100 Index Fund is an Index fund, Zerodha Nifty Smallcap 100 ETF is an ETF fund, run by Groww Mutual Fund and Zerodha Mutual Fund. Their portfolios overlap 45.1%. Groww Nifty Smallcap 250 Momentum Quality 100 Index Fund charges 1.38% a year and Zerodha Nifty Smallcap 100 ETF 0.35%.
Which has the lower expense ratio, Groww Nifty Smallcap 250 Momentum Quality 100 Index Fund or Zerodha Nifty Smallcap 100 ETF?
Zerodha Nifty Smallcap 100 ETF charges less: 0.35% a year against 1.38%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Groww Nifty Smallcap 250 Momentum Quality 100 Index Fund and Zerodha Nifty Smallcap 100 ETF overlap?
45.1%. They hold 38 of the same securities, the largest shared ones being SONACOMS, WELCORP, KARURVYSYA. From each fund's latest monthly portfolio.
Which is riskier, Groww Nifty Smallcap 250 Momentum Quality 100 Index Fund or Zerodha Nifty Smallcap 100 ETF?
On SEBI's riskometer, Groww Nifty Smallcap 250 Momentum Quality 100 Index Fund is rated Very High and Zerodha Nifty Smallcap 100 ETF Very High. Over their common history, the standard deviation of daily returns was 16.22% and 18.41% a year.
Can I invest in both Groww Nifty Smallcap 250 Momentum Quality 100 Index Fund and Zerodha Nifty Smallcap 100 ETF?
Yes. 45.1% 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 Smallcap 250 Momentum Quality 100 Index Fund and Zerodha Nifty Smallcap 100 ETF?
Groww Nifty Smallcap 250 Momentum Quality 100 Index Fund: Aakash Chauhan, Nikhil Satam, Shashi Kumar. Zerodha Nifty Smallcap 100 ETF: 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.