Helios Small Cap Fund vs Zerodha Nifty Smallcap 100 ETF
Direct Plan, Growth option · Data as on 30-10-2026
Helios Small Cap Fund is a Small Cap fund and Zerodha Nifty Smallcap 100 ETF is an ETF fund. Helios Small Cap Fund charges 0.89% a year and Zerodha Nifty Smallcap 100 ETF 0.35% (Direct plans). Their portfolios overlap 19.0%: they hold 19 of the same securities.
Which is better, Helios Small Cap 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 0.89% (Direct plans).
- Zerodha Nifty Smallcap 100 ETF fell less in its worst fall since 28-11-2025: −15.7% against −16.9%.
- Helios Small Cap is the larger fund: ₹1,885 Cr against ₹101 Cr.
- Their portfolios overlap 19.0%: 19 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 | Helios Small Cap Fund | Zerodha Nifty Smallcap 100 ETF |
|---|---|---|
| Fund house | Helios Mutual Fund | Zerodha Mutual Fund |
| Category | Small Cap | ETF |
| AUM | ₹1,885 Cr (30-09-2026) | ₹101 Cr (30-09-2026) |
| NAV | ₹10.87 (Direct) | ₹10.48 (Direct) |
| Expense ratio (Direct) | 0.89% | 0.35% |
| Expense ratio (Regular) | 2.40% | Not available |
| Riskometer | Very High | Very High |
| Benchmark | Nifty Smallcap 250 TRI | Nifty Smallcap 100 TRI |
| Launch date | 27-11-2025 | 09-09-2025 |
| Minimum investment | ₹5,000 | In creation unit size of 1,50,000 Units and in multiples of 10 units thereof |
| Lock in | None | None |
| Fund managers | Alok Bahl, Pratik Singh | Kedarnath Mirajkar |
| Exit load | Exit load of 1%, if redeemed within 3 months. | Nil |
Helios Small Cap 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 |
|---|---|---|---|---|---|---|---|
| Helios Small Cap Fund (Direct) | −5.23% | −1.18% | +10.36% | -- | -- | -- | -- |
| Zerodha Nifty Smallcap 100 ETF (Direct) | −4.23% | −4.17% | +2.78% | +0.72% | -- | -- | -- |
| Small Cap average | −5.86% | −3.28% | +5.03% | -- | -- | -- | -- |
Category average: the average of the 36 Small Cap funds, same plan type.
Helios Small Cap vs Zerodha Nifty Smallcap 100 ETF: Year-wise Returns
| Year | Helios Small CapHelios Small Cap | Zerodha Nifty Smallcap 100 ETFZerodha Nifty Smallcap 100 ETF |
|---|---|---|
| 2026to date | +10.58% | +4.86% |
Helios Small Cap vs Zerodha Nifty Smallcap 100 ETF: Rolling Returns
Every holding period of both funds, against Nifty Smallcap 250 TRI, the benchmark of Helios Small Cap Fund
Helios Small Cap 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 | Helios Small Cap Fund (Direct) | Zerodha Nifty Smallcap 100 ETF (Direct) |
|---|---|---|
| Return (CAGR) | +9.02% | +3.02% |
| Standard deviation | 18.12% | 18.41% |
| Sharpe ratio | 0.21 | -0.12 |
| Sortino ratio | 0.29 | -0.17 |
| Maximum drawdown | −16.9% (23-03-2026) | −18.1% (23-03-2026) |
| Beta | 0.94 | 1.00 |
| Alpha | +7.96% | +0.11% |
From daily NAVs, 28-11-2025 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.
Helios Small Cap Fund (Direct)
Zerodha Nifty Smallcap 100 ETF (Direct)
Nifty Smallcap 250 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Helios Small Cap Fund (Direct) | −16.9% | 01-12-2025 | 23-03-2026 | 06-05-2026 | 44 days | −8.0% |
| Zerodha Nifty Smallcap 100 ETF (Direct) | −15.7% | 07-01-2026 | 23-03-2026 | 27-04-2026 | 35 days | −8.5% |
| Nifty Smallcap 250 TRI | −15.4% | 05-01-2026 | 23-03-2026 | 04-05-2026 | 42 days | −9.4% |
From daily values since 28-11-2025, the first day every fund has.
Helios Small Cap vs Zerodha Nifty Smallcap 100 ETF: Portfolio Overlap
From each fund's latest monthly portfolio: Helios Small Cap Fund, September 2026; Zerodha Nifty Smallcap 100 ETF, September 2026
Holdings in common
- Overlap
- 19.0%
- Held by both
- 19
- Only in Helios Small Cap
- 77
- Only in Zerodha Nifty Smallcap 100 ETF
- 79
| Security | % of Helios Small Cap | % of Zerodha Nifty Smallcap 100 ETF |
|---|---|---|
| Ather Energy Ltd. | 1.77% | 2.18% |
| Redington Ltd. | 1.64% | 1.95% |
| TD Power Systems Ltd. | 1.45% | 1.44% |
| Dr. Lal Path labs Ltd. | 1.49% | 1.25% |
| Delhivery Ltd. | 1.24% | 1.99% |
| Acutaas Chemicals Ltd. | 1.19% | 1.37% |
| City Union Bank Ltd. | 1.15% | 1.75% |
| Syrma SGS Technology Ltd. | 1.51% | 1.11% |
| Data Patterns (India) Ltd. | 1.54% | 1.05% |
| Piramal Pharma Ltd. | 1.46% | 1.03% |
| PNB Housing Finance Ltd. | 0.97% | 1.70% |
| Pine Labs Ltd. | 1.32% | 0.78% |
| Computer Age Management Services Ltd. | 0.76% | 1.30% |
| Netweb Technologies India Ltd. | 1.20% | 0.72% |
| Poonawalla Fincorp Ltd. | 0.71% | 1.27% |
| NBCC (India) Ltd. | 0.82% | 0.66% |
| AFFLE 3I Ltd. | 0.62% | 0.77% |
| Physicswallah Ltd. | 0.72% | 0.59% |
| Kfin Technologies Ltd. | 0.34% | 0.91% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 19.0% means 19.0% 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 Helios Small Cap Fund
| Security | % of fund |
|---|---|
| Shadowfax Technologies Ltd. | 2.22% |
| Multi Commodity Exchange of India Ltd. | 1.91% |
| CarTrade Tech Ltd. | 1.72% |
| Swiggy Ltd. | 1.65% |
| Edelweiss Financial Services Ltd. | 1.59% |
Largest holdings only in Zerodha Nifty Smallcap 100 ETF
| Security | % of fund |
|---|---|
| Sona BLW Precision Forgings Limited | 3.01% |
| WELSPUN CORP LTD | 2.87% |
| Karur Vysya Bank Limited | 2.47% |
| Navin Fluorine International Limited | 2.45% |
| RBL Bank Limited | 2.01% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Helios Small Cap | Zerodha Nifty Smallcap 100 ETF |
|---|---|---|
| Equity | 98.0% | 95.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 2.0% | 5.0% |
Market cap of stocks
| Market cap | Helios Small Cap | Zerodha Nifty Smallcap 100 ETF |
|---|---|---|
| Large Cap | 2.1% | 0.0% |
| Mid Cap | 17.6% | 4.7% |
| Small Cap | 70.7% | 88.9% |
| Not on AMFI's list | 7.6% | 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 | Helios Small Cap | Zerodha Nifty Smallcap 100 ETF |
|---|---|---|
| Pharmaceuticals & Biotechnology | 7.5% | 11.0% |
| Auto Components | 10.7% | 6.1% |
| Finance | 3.7% | 9.2% |
| Capital Markets | 7.7% | 8.1% |
| Banks | 1.8% | 8.0% |
| Healthcare Services | 6.8% | 1.8% |
| Industrial Products | 4.0% | 6.4% |
| Commercial Services & Supplies | 4.8% | 2.8% |
| Transport Services | 4.7% | 3.2% |
The six largest sectors of each fund's stocks, % of the fund.
Helios Small Cap vs Zerodha Nifty Smallcap 100 ETF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Helios Small Cap Fund | Zerodha Nifty Smallcap 100 ETF |
|---|---|---|
| Total expense ratio (Direct) | 0.89% | 0.35% |
| Base expense ratio (Direct) | 0.47% | 0.18% |
| Total expense ratio (Regular) | 2.40% | Not available |
| Base expense ratio (Regular) | 1.77% | 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.
More comparisons
Each fund against the others of its category
Helios Small Cap Fund vs Zerodha Nifty Smallcap 100 ETF: Frequently Asked Questions
What is the difference between Helios Small Cap Fund and Zerodha Nifty Smallcap 100 ETF?
Helios Small Cap Fund is a Small Cap fund, Zerodha Nifty Smallcap 100 ETF is an ETF fund, run by Helios Mutual Fund and Zerodha Mutual Fund. Their portfolios overlap 19.0%. Helios Small Cap Fund charges 0.89% a year and Zerodha Nifty Smallcap 100 ETF 0.35%.
Which has the lower expense ratio, Helios Small Cap Fund or Zerodha Nifty Smallcap 100 ETF?
Zerodha Nifty Smallcap 100 ETF charges less: 0.35% a year against 0.89%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Helios Small Cap Fund and Zerodha Nifty Smallcap 100 ETF overlap?
19.0%. They hold 19 of the same securities, the largest shared ones being ATHERENERG, REDINGTON, TDPOWERSYS. From each fund's latest monthly portfolio.
Which is riskier, Helios Small Cap Fund or Zerodha Nifty Smallcap 100 ETF?
On SEBI's riskometer, Helios Small Cap Fund is rated Very High and Zerodha Nifty Smallcap 100 ETF Very High. Over their common history, the standard deviation of daily returns was 18.12% and 18.41% a year.
Can I invest in both Helios Small Cap Fund and Zerodha Nifty Smallcap 100 ETF?
Yes. 19.0% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Helios Small Cap Fund and Zerodha Nifty Smallcap 100 ETF?
Helios Small Cap Fund: Alok Bahl, Pratik Singh. 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.