ITI Large & Mid Cap Fund vs Zerodha Nifty LargeMidcap 250 Index Fund
Direct Plan, Growth option · Data as on 30-10-2026
ITI Large & Mid Cap Fund is a Large & Mid Cap fund and Zerodha Nifty LargeMidcap 250 Index Fund is an Index fund. In the year to 30-10-2026, ITI Large & Mid Cap Fund (Direct) returned −4.2% and Zerodha Nifty LargeMidcap 250 Index Fund (Direct) returned −6.2%. ITI Large & Mid Cap Fund charges 1.06% a year and Zerodha Nifty LargeMidcap 250 Index Fund 0.38% (Direct plans). Their portfolios overlap 34.4%: they hold 63 of the same securities.
ITI Large & Mid Cap Fund
Large & Mid Cap
- 1 year return
- −4.2%
- Expense ratio
- 1.06%
- NAV
- ₹9.70
Zerodha Nifty LargeMidcap 250 Index Fund
Index
- 1 year return
- −6.2%
- Expense ratio
- 0.38%
- NAV
- ₹13.46
Which is better, ITI Large & Mid Cap or Zerodha Nifty LargeMidcap 250 Index? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- ITI Large & Mid Cap returned more over 1 year: −4.2% against −6.2%.
- Zerodha Nifty LargeMidcap 250 Index costs less: 0.38% a year against 1.06% (Direct plans).
- Zerodha Nifty LargeMidcap 250 Index fell less in its worst fall since 13-09-2024: −18.8% against −20.2%.
- Zerodha Nifty LargeMidcap 250 Index holds more in large companies: 52.0% of the fund in large caps against 34.5%.
- Zerodha Nifty LargeMidcap 250 Index is the larger fund: ₹1,569 Cr against ₹691 Cr.
- Their portfolios overlap 34.4%: 63 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 | ITI Large & Mid Cap Fund | Zerodha Nifty LargeMidcap 250 Index Fund |
|---|---|---|
| Fund house | ITI Mutual Fund | Zerodha Mutual Fund |
| Category | Large & Mid Cap | Index |
| AUM | ₹691 Cr (30-09-2026) | ₹1,569 Cr (30-09-2026) |
| NAV | ₹9.70 (Direct) | ₹13.46 (Direct) |
| Expense ratio (Direct) | 1.06% | 0.38% |
| Expense ratio (Regular) | 2.65% | Not available |
| Riskometer | Very High | Very High |
| Benchmark | Nifty LargeMidcap 250 TRI | Nifty LargeMidcap 250 TRI |
| Launch date | 11-09-2024 | 08-11-2023 |
| Minimum investment | ₹5,000 | Rs. 100. |
| Lock in | None | None |
| Fund managers | Alok Ranjan, Nilay Dalal | Kedarnath Mirajkar |
| Exit load | Exit load of 0.50%, if redeemed within 3 months | Nil |
ITI Large & Mid Cap vs Zerodha Nifty LargeMidcap 250 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 |
|---|---|---|---|---|---|---|---|
| ITI Large & Mid Cap Fund (Direct) | −4.04% | −3.89% | +0.64% | −4.22% | -- | -- | -- |
| Zerodha Nifty LargeMidcap 250 Index Fund (Direct) | −1.31% | −6.83% | −3.29% | −6.24% | -- | -- | -- |
| Large & Mid Cap average | −1.78% | −5.20% | −0.43% | −3.99% | -- | -- | -- |
Category average: the average of the 36 Large & Mid Cap funds, same plan type.
ITI Large & Mid Cap vs Zerodha Nifty LargeMidcap 250 Index: Year-wise Returns
| Year | ITI Large & Mid CapITI Large & Mid Cap | Zerodha Nifty LargeMidcap 250 IndexZerodha Nifty LargeMidcap 250 Index | NIFTY LargeMidcap 250 TRI |
|---|---|---|---|
| 2026to date | −1.41% | −6.89% | −7.09% |
| 2025 | +0.32% | +8.37% | +8.19% |
| 2024 | -- | +18.50% | +18.68% |
ITI Large & Mid Cap vs Zerodha Nifty LargeMidcap 250 Index: Rolling Returns
Every holding period of both funds, against NIFTY LargeMidcap 250 TRI, the benchmark of both
Rolling returns
Every 1-year holding period, 276 of them, one for each trading day from 15-09-2025 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.
ITI Large & Mid Cap Fund (Direct)
Zerodha Nifty LargeMidcap 250 Index Fund (Direct)
NIFTY LargeMidcap 250 TRI
to
Oct 2025Dec 2024
to
Dec 2025Mar 2025
to
Mar 2026May 2025
to
May 2026Jul 2025
to
Jul 2026Sept 2025
to
Sept 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ITI Large & Mid Cap | 30.4 | 37.3 | 27.5 | 4.7 | 0.0 | 0.0 | 0.0 | 2.5% | 2.1% | −7.3% | 14.2% | 22% |
| Zerodha Nifty LargeMidcap 250 Index | 15.9 | 35.1 | 30.4 | 13.0 | 5.4 | 0.0 | 0.0 | 5.2% | 4.9% | −7.7% | 18.5% | 100% |
| NIFTY LargeMidcap 250 TRI | 17.8 | 34.4 | 31.2 | 11.2 | 5.4 | 0.0 | 0.0 | 5.0% | 4.6% | −8.0% | 18.3% | -- |
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 LargeMidcap 250 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 13-09-2024. Past returns do not promise future returns.
ITI Large & Mid Cap vs Zerodha Nifty LargeMidcap 250 Index: 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 13-09-2024 to 30-10-2026: 26 instalments, ₹2,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| ITI Large & Mid CapITI Large & Mid Cap Fund (Direct) | ₹2,60,000 | ₹2,62,127 | ₹2,127 | 0.7% |
| Zerodha Nifty LargeMidcap 250 IndexZerodha Nifty LargeMidcap 250 Index Fund (Direct) | ₹2,60,000 | ₹2,56,176 | −₹3,824 | −1.3% |
ITI Large & Mid CapITI Large & Mid Cap Fund (Direct)
Zerodha Nifty LargeMidcap 250 IndexZerodha Nifty LargeMidcap 250 Index 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.
ITI Large & Mid Cap vs Zerodha Nifty LargeMidcap 250 Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | ITI Large & Mid Cap Fund (Direct) | Zerodha Nifty LargeMidcap 250 Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | −4.22% | −6.24% |
| Standard deviation | 16.81% | 14.85% |
| Sharpe ratio | -0.56 | -0.77 |
| Sortino ratio | -0.76 | -1.03 |
| Maximum drawdown | −17.1% (31-03-2026) | −14.3% (30-03-2026) |
| Beta | 1.09 | 1.00 |
| Alpha | +3.35% | +0.23% |
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 | ITI Large & Mid Cap Fund (Direct) | Zerodha Nifty LargeMidcap 250 Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | −1.79% | +10.48% |
| Standard deviation | 16.99% | 14.89% |
| Sharpe ratio | -0.44 | 0.30 |
| Sortino ratio | -0.59 | 0.40 |
| Maximum drawdown | −20.2% (28-02-2025) | −18.8% (28-02-2025) |
| Beta | 1.12 | 1.00 |
| Alpha | +1.76% | +0.04% |
From daily NAVs, 13-09-2024 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.
ITI Large & Mid Cap Fund (Direct)
Zerodha Nifty LargeMidcap 250 Index Fund (Direct)
NIFTY LargeMidcap 250 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| ITI Large & Mid Cap Fund (Direct) | −20.2% | 11-12-2024 | 28-02-2025 | 03-08-2026 | 17 months | −8.7% |
| Zerodha Nifty LargeMidcap 250 Index Fund (Direct) | −18.8% | 26-09-2024 | 28-02-2025 | 17-11-2025 | 9 months | −8.6% |
| NIFTY LargeMidcap 250 TRI | −18.8% | 26-09-2024 | 28-02-2025 | 17-11-2025 | 9 months | −8.6% |
From daily values since 13-09-2024, 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.
ITI Large & Mid Cap Fund (Direct)
Zerodha Nifty LargeMidcap 250 Index Fund (Direct)
NIFTY LargeMidcap 250 TRI
Against NIFTY LargeMidcap 250 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| ITI Large & Mid Cap Fund (Direct) | 125% | 117% | 6.84% |
| Zerodha Nifty LargeMidcap 250 Index Fund (Direct) | 101% | 100% | 0.04% |
From month-end values since 13-09-2024. 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.
ITI Large & Mid Cap vs Zerodha Nifty LargeMidcap 250 Index: Portfolio Overlap
From each fund's latest monthly portfolio: ITI Large & Mid Cap Fund, September 2026; Zerodha Nifty LargeMidcap 250 Index Fund, September 2026
Holdings in common
- Overlap
- 34.4%
- Held by both
- 63
- Only in ITI Large & Mid Cap
- 25
- Only in Zerodha Nifty LargeMidcap 250 Index
- 187
| Security | % of ITI Large & Mid Cap | % of Zerodha Nifty LargeMidcap 250 Index |
|---|---|---|
| ICICI Bank Limited | 2.27% | 3.68% |
| Larsen & Toubro Limited | 1.94% | 1.71% |
| State Bank of India | 1.81% | 1.54% |
| Axis Bank Limited | 1.62% | 1.37% |
| Reliance Industries Limited | 1.27% | 3.08% |
| Kotak Mahindra Bank Limited | 1.76% | 1.19% |
| Bajaj Finance Limited | 1.46% | 1.02% |
| Mahindra & Mahindra Limited | 1.13% | 1.02% |
| Multi Commodity Exchange of India Limited | 0.98% | 1.04% |
| The Federal Bank Limited | 0.96% | 0.96% |
| Eternal Limited | 1.31% | 0.90% |
| One 97 Communications Limited | 0.90% | 0.89% |
| Sun Pharmaceutical Industries Limited | 1.75% | 0.75% |
| IndusInd Bank Limited | 2.07% | 0.73% |
| AU Small Finance Bank Limited | 0.98% | 0.72% |
| IDFC First Bank Limited | 1.06% | 0.67% |
| Dixon Technologies (India) Limited | 0.72% | 0.67% |
| Bharat Forge Limited | 0.93% | 0.66% |
| Bharat Heavy Electricals Limited | 0.65% | 0.75% |
| The Indian Hotels Company Limited | 0.64% | 0.79% |
| Maruti Suzuki India Limited | 0.66% | 0.60% |
| Bharat Electronics Limited | 1.33% | 0.54% |
| Hindalco Industries Limited | 1.07% | 0.53% |
| Shriram Finance Limited | 1.02% | 0.53% |
| Marico Limited | 0.78% | 0.51% |
| BSE Limited | 1.20% | 0.49% |
| Fortis Healthcare Limited | 1.18% | 0.49% |
| JSW Steel Limited | 0.95% | 0.47% |
| Divi's Laboratories Limited | 1.98% | 0.46% |
| PB Fintech Limited | 0.96% | 0.46% |
| Grasim Industries Limited | 1.18% | 0.45% |
| The Phoenix Mills Limited | 1.16% | 0.44% |
| Glenmark Pharmaceuticals Limited | 1.26% | 0.43% |
| Apar Industries Limited | 1.24% | 0.40% |
| Aditya Birla Capital Limited | 0.99% | 0.40% |
| National Aluminium Company Limited | 0.73% | 0.38% |
| TVS Motor Company Limited | 1.96% | 0.37% |
| JSW Energy Limited | 1.09% | 0.37% |
| KEI Industries Limited | 0.97% | 0.34% |
| Adani Power Limited | 0.73% | 0.33% |
| Prestige Estates Projects Limited | 0.65% | 0.31% |
| SBI Life Insurance Company Limited | 0.57% | 0.30% |
| Waaree Energies Limited | 0.88% | 0.28% |
| L&T Finance Limited | 0.54% | 0.28% |
| Jio Financial Services Limited | 0.54% | 0.28% |
| Cholamandalam Investment and Finance Company Ltd | 0.87% | 0.27% |
| Max Healthcare Institute Limited | 0.75% | 0.27% |
| Vedanta Aluminium Metal Limited | 0.49% | 0.27% |
| Oberoi Realty Limited | 0.88% | 0.26% |
| Cummins India Limited | 1.06% | 0.25% |
| Blue Star Limited | 1.34% | 0.24% |
| Gujarat Fluorochemicals Limited | 1.15% | 0.23% |
| Aster DM Quality Care Limited | 1.05% | 0.23% |
| LG Electronics India Ltd | 1.97% | 0.22% |
| Motilal Oswal Financial Services Limited | 1.56% | 0.19% |
| Thermax Limited | 0.83% | 0.16% |
| Jindal Steel Limited | 0.50% | 0.16% |
| Bharti Hexacom Limited | 1.41% | 0.13% |
| Union Bank of India | 0.88% | 0.13% |
| NLC India Limited | 1.01% | 0.12% |
| Hyundai Motor India Ltd | 0.59% | 0.11% |
| Godfrey Phillips India Limited | 0.71% | 0.10% |
| Mazagon Dock Shipbuilders Limited | 0.78% | 0.06% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 34.4% means 34.4% 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 ITI Large & Mid Cap Fund
| Security | % of fund |
|---|---|
| ESDS Software Solution Ltd | 4.59% |
| Supriya Lifescience Limited | 1.59% |
| SPR Auto Technologies Ltd | 1.47% |
| IIFL Finance Limited | 1.40% |
| Blue Jet Healthcare Ltd | 1.16% |
Largest holdings only in Zerodha Nifty LargeMidcap 250 Index Fund
| Security | % of fund |
|---|---|
| HDFC Bank Limited | 4.22% |
| Bharti Airtel Limited | 2.07% |
| Infosys Limited | 1.36% |
| ITC Limited | 0.98% |
| Laurus Labs Limited | 0.95% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | ITI Large & Mid Cap | Zerodha Nifty LargeMidcap 250 Index |
|---|---|---|
| Equity | 97.1% | 99.6% |
| Debt | 0.0% | 0.0% |
| Cash and others | 2.9% | 0.4% |
Market cap of stocks
| Market cap | ITI Large & Mid Cap | Zerodha Nifty LargeMidcap 250 Index |
|---|---|---|
| Large Cap | 34.5% | 52.0% |
| Mid Cap | 36.9% | 46.3% |
| Small Cap | 19.0% | 1.3% |
| Not on AMFI's list | 6.6% | 0.0% |
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 | ITI Large & Mid Cap | Zerodha Nifty LargeMidcap 250 Index |
|---|---|---|
| Banks | 16.0% | 16.9% |
| Finance | 7.9% | 6.5% |
| Pharmaceuticals & Biotechnology | 7.7% | 6.7% |
| Electrical Equipment | 5.7% | 3.7% |
| IT - Software | 0.0% | 5.6% |
| IT - Services | 5.5% | 0.1% |
| Automobiles | 5.3% | 4.0% |
| Retailing | 1.3% | 4.3% |
The six largest sectors of each fund's stocks, % of the fund.
ITI Large & Mid Cap vs Zerodha Nifty LargeMidcap 250 Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | ITI Large & Mid Cap Fund | Zerodha Nifty LargeMidcap 250 Index Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.06% | 0.38% |
| Base expense ratio (Direct) | 0.63% | 0.25% |
| Total expense ratio (Regular) | 2.65% | Not available |
| Base expense ratio (Regular) | 2.05% | 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
ITI Large & Mid Cap Fund vs Zerodha Nifty LargeMidcap 250 Index Fund: Frequently Asked Questions
What is the difference between ITI Large & Mid Cap Fund and Zerodha Nifty LargeMidcap 250 Index Fund?
ITI Large & Mid Cap Fund is a Large & Mid Cap fund, Zerodha Nifty LargeMidcap 250 Index Fund is an Index fund, run by ITI Mutual Fund and Zerodha Mutual Fund. Their portfolios overlap 34.4%. ITI Large & Mid Cap Fund charges 1.06% a year and Zerodha Nifty LargeMidcap 250 Index Fund 0.38%.
Which has given higher returns, ITI Large & Mid Cap Fund or Zerodha Nifty LargeMidcap 250 Index Fund?
Over 1 year: ITI Large & Mid Cap Fund −4.22%, Zerodha Nifty LargeMidcap 250 Index Fund −6.24%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, ITI Large & Mid Cap Fund or Zerodha Nifty LargeMidcap 250 Index Fund?
Zerodha Nifty LargeMidcap 250 Index Fund charges less: 0.38% a year against 1.06%. These are the Direct plans' total expense ratios reported to AMFI.
How much do ITI Large & Mid Cap Fund and Zerodha Nifty LargeMidcap 250 Index Fund overlap?
34.4%. They hold 63 of the same securities, the largest shared ones being ICICIBANK, LT, SBIN. From each fund's latest monthly portfolio.
Which is riskier, ITI Large & Mid Cap Fund or Zerodha Nifty LargeMidcap 250 Index Fund?
On SEBI's riskometer, ITI Large & Mid Cap Fund is rated Very High and Zerodha Nifty LargeMidcap 250 Index Fund Very High. Over 1 years, the standard deviation of daily returns was 16.81% and 14.85% a year.
Can I invest in both ITI Large & Mid Cap Fund and Zerodha Nifty LargeMidcap 250 Index Fund?
Yes. 34.4% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages ITI Large & Mid Cap Fund and Zerodha Nifty LargeMidcap 250 Index Fund?
ITI Large & Mid Cap Fund: Alok Ranjan, Nilay Dalal. Zerodha Nifty LargeMidcap 250 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.