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    LIC MF Nifty 50 ETF vs Zerodha Nifty 50 Index Fund

    Direct Plan where a fund has one, Growth option · Data as on 30-10-2026

    LIC MF Nifty 50 ETF is an ETF fund and Zerodha Nifty 50 Index Fund is an Index fund. In the year to 30-10-2026, LIC MF Nifty 50 ETF returned −10.1% and Zerodha Nifty 50 Index Fund (Direct) returned −10.3%. LIC MF Nifty 50 ETF charges 0.09% a year and Zerodha Nifty 50 Index Fund 0.28%. Their portfolios overlap 100.0%: they hold 50 of the same securities.

    LIC MF Nifty 50 ETF

    ETF

    1 year return
    −10.1%
    Expense ratio
    0.09%
    NAV
    ₹259.04
    See LIC MF Nifty 50 ETF

    Zerodha Nifty 50 Index Fund

    Index

    1 year return
    −10.3%
    Expense ratio
    0.28%
    NAV
    ₹9.24
    See Zerodha Nifty 50 Index Fund

    Which is better, LIC MF Nifty 50 ETF or Zerodha Nifty 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.

    • LIC MF Nifty 50 ETF returned more over 1 year: −10.1% against −10.3%.
    • LIC MF Nifty 50 ETF costs less: 0.09% a year against 0.28%.
    • LIC MF Nifty 50 ETF fell less in its worst fall since 17-10-2025: −15.1% against −15.2%.
    • LIC MF Nifty 50 ETF is the larger fund: ₹816 Cr against ₹75 Cr.
    • Their portfolios overlap 100.0%: 50 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

    FactLIC MF Nifty 50 ETFZerodha Nifty 50 Index Fund
    Fund houseLIC Mutual FundZerodha Mutual Fund
    CategoryETFIndex
    AUM₹816 Cr (30-09-2026)₹75 Cr (30-09-2026)
    NAV₹259.04₹9.24 (Direct)
    Expense ratio (Direct)Not available0.28%
    Expense ratio (Regular)Not availableNot available
    RiskometerVery HighVery High
    BenchmarkNifty 50 TRINifty 50 TRI
    Launch date20-11-201514-10-2025
    Minimum investmentFor 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 inNoneNone
    Fund managersNikhil Kapoor, Sasikant AravamuthanKedarnath Mirajkar
    Exit loadNilNil

    LIC MF Nifty 50 ETF vs Zerodha Nifty 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.

    Fund1M3M6M1Y3Y5Y10Y
    LIC MF Nifty 50 ETF+1.95%−5.00%−3.15%−10.06%+7.53%+6.59%+11.51%
    Zerodha Nifty 50 Index Fund (Direct)+1.95%−5.00%−3.12%−10.25%------

    LIC MF Nifty 50 ETF vs Zerodha Nifty 50 Index: Year-wise Returns

    YearLIC MF Nifty 50 ETFLIC MF Nifty 50 ETFZerodha Nifty 50 IndexZerodha Nifty 50 IndexNifty 50 TRI
    2026to date−10.96%−11.01%−10.91%
    2025+11.82%--+11.88%
    2024+9.94%--+10.09%
    2023+21.06%--+21.30%
    2022+5.65%--+5.69%
    2021+25.36%--+25.59%

    LIC MF Nifty 50 ETF vs Zerodha Nifty 50 Index: Rolling Returns

    Every holding period of both funds, against Nifty 50 TRI, the benchmark of both

    LIC MF Nifty 50 ETF vs Zerodha Nifty 50 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

    Step up each year
    PeriodFor

    ₹10,000 on the first trading day of every month, from 01-10-2025 to 30-10-2026: 13 instalments, ₹1,30,000 in all.

    InvestmentInvestedValue nowGainReturn a year
    LIC MF Nifty 50 ETFLIC MF Nifty 50 ETF ₹1,30,000 ₹1,23,551 −₹6,449 −8.5%
    Zerodha Nifty 50 IndexZerodha Nifty 50 Index Fund (Direct) ₹1,30,000 ₹1,23,091 −₹6,909 −9.1%
    ₹0₹50,000₹1.0 L₹1.5 L
    2026
    LIC MF Nifty 50 ETFLIC MF Nifty 50 ETFZerodha Nifty 50 IndexZerodha Nifty 50 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.

    LIC MF Nifty 50 ETF vs Zerodha Nifty 50 Index: Risk and Drawdowns

    How much each fund swings, and the worst fall over the same days

    Risk and return

    MeasureLIC MF Nifty 50 ETFZerodha Nifty 50 Index Fund (Direct)
    Return (CAGR)−10.06%−10.25%
    Standard deviation13.75%13.60%
    Sharpe ratio-1.11-1.14
    Sortino ratio-1.48-1.52
    Maximum drawdown−15.1% (31-03-2026)−15.2% (30-03-2026)
    Beta1.001.00
    Alpha−0.09%−0.28%

    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.

    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.

    −20%−15%−10%−5%0%
    2026
    LIC MF Nifty 50 ETFZerodha Nifty 50 Index Fund (Direct)Nifty 50 TRI
    FundWorst fallHigh before itBottomBack at the highTime to climb backBelow its high today
    LIC MF Nifty 50 ETF−15.1%02-01-202631-03-2026Not yet--−11.6%
    Zerodha Nifty 50 Index Fund (Direct)−15.2%02-01-202630-03-2026Not yet--−11.7%
    Nifty 50 TRI−15.1%02-01-202630-03-2026Not yet--−11.6%

    From daily values since 17-10-2025, 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.

    0%5%10%15%
    LIC MF Nifty 50 ETFZerodha Nifty 50 Index Fund (Direct)Nifty 50 TRI

    Against Nifty 50 TRI

    FundUp captureDown captureTracking error
    LIC MF Nifty 50 ETF99%100%0.05%
    Zerodha Nifty 50 Index Fund (Direct)99%100%0.15%

    From month-end values since 17-10-2025. 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.

    LIC MF Nifty 50 ETF vs Zerodha Nifty 50 Index: Portfolio Overlap

    From each fund's latest monthly portfolio: LIC MF Nifty 50 ETF, September 2026; Zerodha Nifty 50 Index Fund, September 2026

    Holdings in common

    Overlap
    100.0%
    Held by both
    50
    Only in LIC MF Nifty 50 ETF
    0
    Only in Zerodha Nifty 50 Index
    0
    Security% of LIC MF Nifty 50 ETF% of Zerodha Nifty 50 Index
    HDFC Bank Ltd.10.39%10.44%
    ICICI Bank Ltd.9.04%9.10%
    Reliance Industries Ltd.7.58%7.63%
    Bharti Airtel Ltd.5.10%5.13%
    Larsen & Toubro Ltd.4.21%4.23%
    State Bank of India3.79%3.81%
    Infosys Ltd.3.36%3.37%
    Axis Bank Ltd.3.36%3.39%
    Kotak Mahindra Bank Ltd.2.94%2.95%
    Mahindra & Mahindra Ltd.2.52%2.53%

    Overlap: for each holding both funds own, the smaller of its two weights, added up. 100.0% means 100.0% 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 LIC MF Nifty 50 ETF

    Every holding of this fund is also held by the other.

    Largest holdings only in Zerodha Nifty 50 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

    AssetLIC MF Nifty 50 ETFZerodha Nifty 50 Index
    Equity100.0%100.6%
    Debt0.0%0.0%
    Cash and others0.0%-0.6%

    Market cap of stocks

    Market capLIC MF Nifty 50 ETFZerodha Nifty 50 Index
    Large Cap98.6%99.2%
    Mid Cap1.4%1.4%
    Small Cap0.0%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

    SectorLIC MF Nifty 50 ETFZerodha Nifty 50 Index
    Banks29.5%29.7%
    Petroleum Products7.6%7.6%
    IT - Software7.5%7.6%
    Automobiles6.7%6.7%
    Finance5.4%5.5%
    Telecom - Services5.1%5.1%

    The six largest sectors of each fund's stocks, % of the fund.

    LIC MF Nifty 50 ETF vs Zerodha Nifty 50 Index: Expense Ratio

    What each plan charges a year, from AMFI's expense ratio file

    ChargeLIC MF Nifty 50 ETFZerodha Nifty 50 Index Fund
    Total expense ratio (Direct)Not available0.28%
    Base expense ratio (Direct)0.00%0.10%
    Base expense ratio (Regular)0.07%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 Nifty 50 ETF vs Zerodha Nifty 50 Index Fund: Frequently Asked Questions

    What is the difference between LIC MF Nifty 50 ETF and Zerodha Nifty 50 Index Fund?

    LIC MF Nifty 50 ETF is an ETF fund, Zerodha Nifty 50 Index Fund is an Index fund, run by LIC Mutual Fund and Zerodha Mutual Fund. Their portfolios overlap 100.0%. LIC MF Nifty 50 ETF charges 0.09% a year and Zerodha Nifty 50 Index Fund 0.28%.

    Which has given higher returns, LIC MF Nifty 50 ETF or Zerodha Nifty 50 Index Fund?

    Over 1 year: LIC MF Nifty 50 ETF −10.06%, Zerodha Nifty 50 Index Fund −10.25%. As on 30-10-2026. Past returns do not promise future returns.

    Which has the lower expense ratio, LIC MF Nifty 50 ETF or Zerodha Nifty 50 Index Fund?

    LIC MF Nifty 50 ETF charges less: 0.09% a year against 0.28%. These are the total expense ratios reported to AMFI.

    How much do LIC MF Nifty 50 ETF and Zerodha Nifty 50 Index Fund overlap?

    100.0%. They hold 50 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, RELIANCE. From each fund's latest monthly portfolio.

    Which is riskier, LIC MF Nifty 50 ETF or Zerodha Nifty 50 Index Fund?

    On SEBI's riskometer, LIC MF Nifty 50 ETF is rated Very High and Zerodha Nifty 50 Index Fund Very High. Over 1 years, the standard deviation of daily returns was 13.75% and 13.60% a year.

    Can I invest in both LIC MF Nifty 50 ETF and Zerodha Nifty 50 Index Fund?

    Yes. 100.0% 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 Nifty 50 ETF and Zerodha Nifty 50 Index Fund?

    LIC MF Nifty 50 ETF: Nikhil Kapoor, Sasikant Aravamuthan. Zerodha Nifty 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.

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