Navi ELSS Tax Saver Fund vs Zerodha Nifty 50 Index Fund
Direct Plan, Growth option · Data as on 10-04-2026
Navi ELSS Tax Saver Fund is a mutual fund and Zerodha Nifty 50 Index Fund is an Index fund. In the year to 30-10-2026, Navi ELSS Tax Saver Fund (Direct) returned 7.6% and Zerodha Nifty 50 Index Fund (Direct) returned −10.3%. Navi ELSS Tax Saver Fund charges 0.53% a year and Zerodha Nifty 50 Index Fund 0.28% (Direct plans). Their portfolios overlap 36.8%: they hold 17 of the same securities.
Navi ELSS Tax Saver Fund is closed. It has not published a NAV since 10-04-2026. Its figures stop there.
Zerodha Nifty 50 Index Fund
Index
- 1 year return
- −10.3%
- Expense ratio
- 0.28%
- NAV
- ₹9.24
Which is better, Navi ELSS Tax Saver 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.
- Navi ELSS Tax Saver returned more over 1 year: 7.6% against −10.3%.
- Zerodha Nifty 50 Index costs less: 0.28% a year against 0.53% (Direct plans).
- Navi ELSS Tax Saver fell less in its worst fall since 17-10-2025: −14.9% against −15.2%.
- Zerodha Nifty 50 Index holds more in large companies: 99.2% of the fund in large caps against 51.9%.
- Zerodha Nifty 50 Index is the larger fund: ₹75 Cr against ₹44 Cr.
- Their portfolios overlap 36.8%: 17 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 | Navi ELSS Tax Saver Fund | Zerodha Nifty 50 Index Fund |
|---|---|---|
| Fund house | Navi Mutual Fund | Zerodha Mutual Fund |
| Category | Not available | Index |
| AUM | ₹44 Cr (31-03-2026) | ₹75 Cr (30-09-2026) |
| NAV | ₹32.40 (Direct) | ₹9.24 (Direct) |
| Expense ratio (Direct) | 0.53% | 0.28% |
| Expense ratio (Regular) | 2.47% | Not available |
| Riskometer | Not available | Very High |
| Benchmark | Not available | Nifty 50 TRI |
| Launch date | Not available | 14-10-2025 |
| Minimum investment | Not available | ₹100 |
| Lock in | Not available | None |
| Fund managers | Not available | Kedarnath Mirajkar |
| Exit load | Not available | Nil |
Navi ELSS Tax Saver 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.
| Fund | 1M | 3M | 6M | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|---|---|---|
| Navi ELSS Tax Saver Fund (Direct) | −1.08% | −6.34% | −3.28% | +7.63% | +12.99% | +11.62% | +12.70% |
| Zerodha Nifty 50 Index Fund (Direct) | +1.95% | −5.00% | −3.12% | −10.25% | -- | -- | -- |
Navi ELSS Tax Saver vs Zerodha Nifty 50 Index: Year-wise Returns
| Year | Navi ELSS Tax SaverNavi ELSS Tax Saver | Zerodha Nifty 50 IndexZerodha Nifty 50 Index |
|---|---|---|
| 2026to date | −7.43% | −11.01% |
| 2025 | +6.24% | -- |
| 2024 | +13.90% | -- |
| 2023 | +26.43% | -- |
| 2022 | −0.08% | -- |
| 2021 | +31.78% | -- |
Navi ELSS Tax Saver vs Zerodha Nifty 50 Index: Rolling Returns
Every holding period of both funds, against Nifty 50 TRI, the benchmark of Zerodha Nifty 50 Index Fund
Navi ELSS Tax Saver 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
₹10,000 on the first trading day of every month, from 01-10-2025 to 10-04-2026: 7 instalments, ₹70,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Navi ELSS Tax SaverNavi ELSS Tax Saver Fund (Direct) | ₹70,000 | ₹67,536 | −₹2,464 | -- |
| Zerodha Nifty 50 IndexZerodha Nifty 50 Index Fund (Direct) | ₹1,30,000 | ₹1,23,091 | −₹6,909 | −9.1% |
Navi ELSS Tax SaverNavi ELSS Tax Saver Fund (Direct)
Zerodha 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.
Navi ELSS Tax Saver vs Zerodha Nifty 50 Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Navi ELSS Tax Saver Fund (Direct) | Zerodha Nifty 50 Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.63% | −10.25% |
| Standard deviation | 14.04% | 13.60% |
| Sharpe ratio | 0.15 | -1.14 |
| Sortino ratio | 0.22 | -1.52 |
| Maximum drawdown | −14.9% (31-03-2026) | −15.2% (30-03-2026) |
| Beta | -- | 1.00 |
| Alpha | -- | −0.28% |
From daily NAVs, 09-04-2025 to 10-04-2026. 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 | Navi ELSS Tax Saver Fund (Direct) | Zerodha Nifty 50 Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.06% | −9.31% |
| Standard deviation | 15.29% | 13.43% |
| Sharpe ratio | 0.43 | -1.08 |
| Sortino ratio | 0.57 | -1.45 |
| Maximum drawdown | −37.8% (23-03-2020) | −15.2% (30-03-2026) |
| Beta | -- | 1.00 |
| Alpha | -- | −0.29% |
From daily NAVs, 31-12-2015 to 10-04-2026. 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.
Navi ELSS Tax Saver Fund (Direct)
Zerodha Nifty 50 Index Fund (Direct)
Nifty 50 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Navi ELSS Tax Saver Fund (Direct) | −14.9% | 05-01-2026 | 31-03-2026 | Not yet | -- | −8.6% |
| Zerodha Nifty 50 Index Fund (Direct) | −15.2% | 02-01-2026 | 30-03-2026 | Not yet | -- | −11.7% |
| Nifty 50 TRI | −15.1% | 02-01-2026 | 30-03-2026 | Not yet | -- | −11.6% |
From daily values since 17-10-2025, the first day every fund has.
Against Nifty 50 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| 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.
Navi ELSS Tax Saver vs Zerodha Nifty 50 Index: Portfolio Overlap
From each fund's latest monthly portfolio: Navi ELSS Tax Saver Fund, March 2026; Zerodha Nifty 50 Index Fund, September 2026
Holdings in common
- Overlap
- 36.8%
- Held by both
- 17
- Only in Navi ELSS Tax Saver
- 26
- Only in Zerodha Nifty 50 Index
- 33
| Security | % of Navi ELSS Tax Saver | % of Zerodha Nifty 50 Index |
|---|---|---|
| RELIANCE INDUSTRIES LIMITED | 5.70% | 7.63% |
| BHARTI AIRTEL LIMITED | 4.08% | 5.13% |
| ICICI BANK LIMITED | 3.76% | 9.10% |
| STATE BANK OF INDIA | 3.59% | 3.81% |
| AXIS BANK LIMITED | 5.18% | 3.39% |
| HDFC BANK LIMITED | 2.85% | 10.44% |
| INFOSYS LIMITED | 2.72% | 3.37% |
| SUN PHARMACEUTICAL INDUSTRIES LIMITED | 4.22% | 1.85% |
| HINDUSTAN UNILEVER LIMITED | 2.30% | 1.60% |
| TATA CONSULTANCY SERVICES LIMITED | 1.60% | 2.01% |
| SHRIRAM FINANCE LIMITED | 2.79% | 1.32% |
| INTERGLOBE AVIATION LIMITED | 1.80% | 1.08% |
| CIPLA LIMITED | 1.82% | 0.73% |
| MAX HEALTHCARE INSTITUTE LIMITED | 2.64% | 0.66% |
| JIO FINANCIAL SERVICES LIMITED | 0.65% | 0.68% |
| KOTAK MAHINDRA BANK LIMITED | 0.61% | 2.95% |
| TATA CONSUMER PRODUCTS LIMITED | 1.97% | 0.59% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 36.8% means 36.8% 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 Navi ELSS Tax Saver Fund
| Security | % of fund |
|---|---|
| ASHOK LEYLAND LIMITED | 4.07% |
| UPL LIMITED | 3.95% |
| THE FEDERAL BANK LIMITED | 3.50% |
| PERSISTENT SYSTEMS LTD | 3.24% |
| CREDITACCESS GRAMEEN LIMITED | 3.18% |
Largest holdings only in Zerodha Nifty 50 Index Fund
| Security | % of fund |
|---|---|
| Larsen & Toubro Limited | 4.23% |
| Mahindra & Mahindra Limited | 2.53% |
| Bajaj Finance Limited | 2.52% |
| ITC Limited | 2.43% |
| Eternal Limited | 2.23% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Navi ELSS Tax Saver | Zerodha Nifty 50 Index |
|---|---|---|
| Equity | 99.9% | 100.6% |
| Debt | 0.0% | 0.0% |
| Cash and others | 0.1% | -0.6% |
Market cap of stocks
| Market cap | Navi ELSS Tax Saver | Zerodha Nifty 50 Index |
|---|---|---|
| Large Cap | 51.9% | 99.2% |
| Mid Cap | 34.3% | 1.4% |
| Small Cap | 12.8% | 0.0% |
| Not on AMFI's list | 1.0% | 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 | Navi ELSS Tax Saver | Zerodha Nifty 50 Index |
|---|---|---|
| Banks | 0.0% | 29.7% |
| BANKS | 21.8% | 0.0% |
| IT - SOFTWARE | 8.6% | 0.0% |
| PHARMACEUTICALS & BIOTECHNOLOGY | 8.3% | 0.0% |
| Petroleum Products | 0.0% | 7.6% |
| IT - Software | 0.0% | 7.6% |
| Automobiles | 0.0% | 6.7% |
| FINANCE | 6.6% | 0.0% |
| PETROLEUM PRODUCTS | 5.7% | 0.0% |
| Finance | 0.0% | 5.5% |
| Telecom - Services | 0.0% | 5.1% |
| INDUSTRIAL PRODUCTS | 4.9% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
Navi ELSS Tax Saver vs Zerodha Nifty 50 Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Navi ELSS Tax Saver Fund | Zerodha Nifty 50 Index Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.53% | 0.28% |
| Base expense ratio (Direct) | 0.45% | 0.10% |
| Total expense ratio (Regular) | 2.47% | Not available |
| Base expense ratio (Regular) | 2.10% | 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.
Navi ELSS Tax Saver Fund vs Zerodha Nifty 50 Index Fund: Frequently Asked Questions
What is the difference between Navi ELSS Tax Saver Fund and Zerodha Nifty 50 Index Fund?
Navi ELSS Tax Saver Fund is a mutual fund, Zerodha Nifty 50 Index Fund is an Index fund, run by Navi Mutual Fund and Zerodha Mutual Fund. Their portfolios overlap 36.8%. Navi ELSS Tax Saver Fund charges 0.53% a year and Zerodha Nifty 50 Index Fund 0.28%.
Which has given higher returns, Navi ELSS Tax Saver Fund or Zerodha Nifty 50 Index Fund?
Over 1 year: Navi ELSS Tax Saver Fund +7.63%, 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, Navi ELSS Tax Saver Fund or Zerodha Nifty 50 Index Fund?
Zerodha Nifty 50 Index Fund charges less: 0.28% a year against 0.53%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Navi ELSS Tax Saver Fund and Zerodha Nifty 50 Index Fund overlap?
36.8%. They hold 17 of the same securities, the largest shared ones being RELIANCE, BHARTIARTL, ICICIBANK. From each fund's latest monthly portfolio.
Can I invest in both Navi ELSS Tax Saver Fund and Zerodha Nifty 50 Index Fund?
Yes. 36.8% of each fund's money sits in the same holdings, so some of the two investments would move together.
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.