LIC MF BSE Sensex ETF vs Zerodha BSE SENSEX Index Fund
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
LIC MF BSE Sensex ETF is an ETF fund and Zerodha BSE SENSEX Index Fund is an Index fund. LIC MF BSE Sensex ETF charges 0.12% a year and Zerodha BSE SENSEX Index Fund 0.47%. Their portfolios overlap 99.8%: they hold 30 of the same securities.
Which is better, LIC MF BSE Sensex ETF or Zerodha BSE SENSEX Index? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- LIC MF BSE Sensex ETF costs less: 0.12% a year against 0.47%.
- LIC MF BSE Sensex ETF fell less in its worst fall since 10-11-2025: −16.1% against −16.1%.
- LIC MF BSE Sensex ETF is the larger fund: ₹676 Cr against ₹19 Cr.
- Their portfolios overlap 99.8%: 30 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 | LIC MF BSE Sensex ETF | Zerodha BSE SENSEX Index Fund |
|---|---|---|
| Fund house | LIC Mutual Fund | Zerodha Mutual Fund |
| Category | ETF | Index |
| AUM | ₹676 Cr (30-09-2026) | ₹19 Cr (30-09-2026) |
| NAV | ₹842.05 | ₹8.99 (Direct) |
| Expense ratio (Direct) | Not available | 0.47% |
| Expense ratio (Regular) | Not available | Not available |
| Riskometer | Very High | Very High |
| Benchmark | BSE SENSEX TRI | BSE SENSEX TRI |
| Launch date | 30-11-2015 | 06-11-2025 |
| Minimum investment | For Subscription of units directly with Mutual Fund: All direct transactions in units of the Scheme by MMs/APs or other eligible investors with the AMC/the Fund shall be at intra-day NAV based on the actual execution price of the underlying portfolio. Any | ₹100 |
| Lock in | None | None |
| Fund managers | Nikhil Kapoor, Sasikant Aravamuthan | Kedarnath Mirajkar |
| Exit load | Nil | Nil |
LIC MF BSE Sensex ETF vs Zerodha BSE SENSEX 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 |
|---|---|---|---|---|---|---|---|
| LIC MF BSE Sensex ETF | +2.76% | −4.31% | −2.45% | −11.01% | +6.18% | +5.79% | +11.51% |
| Zerodha BSE SENSEX Index Fund (Direct) | +2.75% | −4.37% | −2.58% | -- | -- | -- | -- |
LIC MF BSE Sensex ETF vs Zerodha BSE SENSEX Index: Year-wise Returns
| Year | LIC MF BSE Sensex ETFLIC MF BSE Sensex ETF | Zerodha BSE SENSEX IndexZerodha BSE SENSEX Index | BSE SENSEX TRI |
|---|---|---|---|
| 2026to date | −11.89% | −12.06% | −11.81% |
| 2025 | +10.26% | -- | +10.38% |
| 2024 | +9.28% | -- | +9.49% |
| 2023 | +20.18% | -- | +20.33% |
| 2022 | +5.75% | -- | +5.80% |
| 2021 | +22.96% | -- | +23.23% |
LIC MF BSE Sensex ETF vs Zerodha BSE SENSEX Index: Rolling Returns
Every holding period of both funds, against BSE SENSEX TRI, the benchmark of both
LIC MF BSE Sensex ETF vs Zerodha BSE SENSEX Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | LIC MF BSE Sensex ETF | Zerodha BSE SENSEX Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.30% | −10.70% |
| Standard deviation | 16.03% | 14.00% |
| Sharpe ratio | 0.36 | -1.14 |
| Sortino ratio | 0.50 | -1.53 |
| Maximum drawdown | −37.9% (23-03-2020) | −16.1% (30-03-2026) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.10% | −0.40% |
From daily NAVs, 01-12-2015 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.
LIC MF BSE Sensex ETF
Zerodha BSE SENSEX Index Fund (Direct)
BSE SENSEX TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| LIC MF BSE Sensex ETF | −16.1% | 02-01-2026 | 31-03-2026 | Not yet | -- | −12.4% |
| Zerodha BSE SENSEX Index Fund (Direct) | −16.1% | 02-01-2026 | 30-03-2026 | Not yet | -- | −12.6% |
| BSE SENSEX TRI | −16.1% | 02-01-2026 | 30-03-2026 | Not yet | -- | −12.4% |
From daily values since 10-11-2025, the first day every fund has.
LIC MF BSE Sensex ETF vs Zerodha BSE SENSEX Index: Portfolio Overlap
From each fund's latest monthly portfolio: LIC MF BSE Sensex ETF, September 2026; Zerodha BSE SENSEX Index Fund, September 2026
Holdings in common
- Overlap
- 99.8%
- Held by both
- 30
- Only in LIC MF BSE Sensex ETF
- 0
- Only in Zerodha BSE SENSEX Index
- 0
| Security | % of LIC MF BSE Sensex ETF | % of Zerodha BSE SENSEX Index |
|---|---|---|
| HDFC Bank Ltd. | 12.57% | 12.59% |
| ICICI Bank Ltd. | 10.96% | 11.04% |
| Reliance Industries Ltd. | 9.08% | 9.16% |
| Bharti Airtel Ltd. | 6.32% | 6.39% |
| Larsen & Toubro Ltd. | 5.09% | 5.11% |
| State Bank of India | 4.60% | 4.64% |
| Axis Bank Ltd. | 4.10% | 4.08% |
| Infosys Ltd. | 4.08% | 4.09% |
| Kotak Mahindra Bank Ltd. | 3.58% | 3.58% |
| Mahindra & Mahindra Ltd. | 3.08% | 3.08% |
| Bajaj Finance Ltd. | 3.01% | 3.00% |
| ITC Ltd. | 2.96% | 2.97% |
| Eternal Ltd. | 2.75% | 2.70% |
| Tata Consultancy Services Ltd. | 2.42% | 2.42% |
| Sun Pharmaceutical Industries Ltd. | 2.29% | 2.29% |
| Titan Company Ltd. | 2.20% | 2.18% |
| Hindustan Unilever Ltd. | 1.97% | 1.96% |
| Maruti Suzuki India Ltd. | 1.80% | 1.79% |
| NTPC Ltd. | 1.78% | 1.78% |
| Tata Steel Ltd. | 1.78% | 1.77% |
| Bharat Electronics Ltd. | 1.63% | 1.62% |
| Adani Ports & Special Economic Zone Ltd. | 1.62% | 1.63% |
| HCL Technologies Ltd. | 1.51% | 1.51% |
| Ultratech Cement Ltd. | 1.51% | 1.50% |
| Power Grid Corporation of India Ltd. | 1.38% | 1.38% |
| InterGlobe Aviation Ltd. | 1.30% | 1.30% |
| Asian Paints Ltd. | 1.27% | 1.26% |
| Tech Mahindra Ltd. | 1.13% | 1.13% |
| Bajaj Finserv Ltd. | 1.13% | 1.13% |
| Trent Ltd. | 1.01% | 1.01% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 99.8% means 99.8% 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 LIC MF BSE Sensex ETF
Every holding of this fund is also held by the other.
Largest holdings only in Zerodha BSE SENSEX Index Fund
Every holding of this fund is also held by the other.
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | LIC MF BSE Sensex ETF | Zerodha BSE SENSEX Index |
|---|---|---|
| Equity | 99.9% | 100.1% |
| Debt | 0.0% | 0.0% |
| Cash and others | 0.1% | -0.1% |
Market cap of stocks
| Market cap | LIC MF BSE Sensex ETF | Zerodha BSE SENSEX Index |
|---|---|---|
| Large Cap | 99.9% | 100.1% |
| Mid Cap | 0.0% | 0.0% |
| Small Cap | 0.0% | 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 | LIC MF BSE Sensex ETF | Zerodha BSE SENSEX Index |
|---|---|---|
| Banks | 35.8% | 35.9% |
| Petroleum Products | 9.1% | 9.2% |
| IT - Software | 9.1% | 9.2% |
| Telecom - Services | 6.3% | 6.4% |
| Construction | 5.1% | 5.1% |
| Diversified FMCG | 4.9% | 4.9% |
The six largest sectors of each fund's stocks, % of the fund.
LIC MF BSE Sensex ETF vs Zerodha BSE SENSEX Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | LIC MF BSE Sensex ETF | Zerodha BSE SENSEX Index Fund |
|---|---|---|
| Total expense ratio (Direct) | Not available | 0.47% |
| Base expense ratio (Direct) | 0.00% | 0.29% |
| Base expense ratio (Regular) | 0.09% | 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.
LIC MF BSE Sensex ETF vs Zerodha BSE SENSEX Index Fund: Frequently Asked Questions
What is the difference between LIC MF BSE Sensex ETF and Zerodha BSE SENSEX Index Fund?
LIC MF BSE Sensex ETF is an ETF fund, Zerodha BSE SENSEX Index Fund is an Index fund, run by LIC Mutual Fund and Zerodha Mutual Fund. Their portfolios overlap 99.8%. LIC MF BSE Sensex ETF charges 0.12% a year and Zerodha BSE SENSEX Index Fund 0.47%.
Which has the lower expense ratio, LIC MF BSE Sensex ETF or Zerodha BSE SENSEX Index Fund?
LIC MF BSE Sensex ETF charges less: 0.12% a year against 0.47%. These are the total expense ratios reported to AMFI.
How much do LIC MF BSE Sensex ETF and Zerodha BSE SENSEX Index Fund overlap?
99.8%. They hold 30 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, RELIANCE. From each fund's latest monthly portfolio.
Which is riskier, LIC MF BSE Sensex ETF or Zerodha BSE SENSEX Index Fund?
On SEBI's riskometer, LIC MF BSE Sensex ETF is rated Very High and Zerodha BSE SENSEX Index Fund Very High. Over their common history, the standard deviation of daily returns was 16.03% and 14.00% a year.
Can I invest in both LIC MF BSE Sensex ETF and Zerodha BSE SENSEX Index Fund?
Yes. 99.8% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages LIC MF BSE Sensex ETF and Zerodha BSE SENSEX Index Fund?
LIC MF BSE Sensex ETF: Nikhil Kapoor, Sasikant Aravamuthan. Zerodha BSE SENSEX 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.