Navi Large & Midcap Fund vs Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund
Direct Plan, Growth option · Data as on 30-10-2026
Navi Large & Midcap Fund is a Large & Mid Cap fund and Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund is an Index fund. In the year to 30-10-2026, Navi Large & Midcap Fund (Direct) returned −4.1% and Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund (Direct) returned −6.2%. Navi Large & Midcap Fund charges 0.65% a year and Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund 0.36% (Direct plans). Their portfolios overlap 33.4%: they hold 60 of the same securities.
Navi Large & Midcap Fund
Large & Mid Cap
- 1 year return
- −4.1%
- Expense ratio
- 0.65%
- NAV
- ₹41.76
Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund
Index
- 1 year return
- −6.2%
- Expense ratio
- 0.36%
- NAV
- ₹13.49
Which is better, Navi Large & Midcap or Zerodha ELSS Tax Saver 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.
- Navi Large & Midcap returned more over 1 year: −4.1% against −6.2%.
- Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index costs less: 0.36% a year against 0.65% (Direct plans).
- Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index fell less in its worst fall since 10-11-2023: −18.7% against −18.8%.
- Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index holds more in large companies: 52.0% of the fund in large caps against 40.3%.
- Navi Large & Midcap is the larger fund: ₹292 Cr against ₹280 Cr.
- Their portfolios overlap 33.4%: 60 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 Large & Midcap Fund | Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund |
|---|---|---|
| Fund house | Navi Mutual Fund | Zerodha Mutual Fund |
| Category | Large & Mid Cap | Index |
| AUM | ₹292 Cr (30-09-2026) | ₹280 Cr (30-09-2026) |
| NAV | ₹41.76 (Direct) | ₹13.49 (Direct) |
| Expense ratio (Direct) | 0.65% | 0.36% |
| Expense ratio (Regular) | 2.53% | Not available |
| Riskometer | Very High | Very High |
| Benchmark | Nifty LargeMidcap 250 TRI | Nifty LargeMidcap 250 TRI |
| Launch date | 07-12-2015 | 08-11-2023 |
| Minimum investment | ₹100 | ₹500 |
| Lock in | None | None |
| Fund managers | Ashutosh Shirwaikar | Kedarnath Mirajkar |
| Exit load | NIL | Nil |
Navi Large & Midcap vs Zerodha ELSS Tax Saver 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 |
|---|---|---|---|---|---|---|---|
| Navi Large & Midcap Fund (Direct) | −1.73% | −6.21% | −0.68% | −4.13% | +9.57% | +8.91% | +12.69% |
| Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund (Direct) | −1.30% | −6.82% | −3.24% | −6.16% | -- | -- | -- |
| Large & Mid Cap average | −1.78% | −5.20% | −0.43% | −3.99% | +13.28% | +11.36% | +13.62% |
Category average: the average of the 36 Large & Mid Cap funds, same plan type.
Navi Large & Midcap vs Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index: Year-wise Returns
| Year | Navi Large & MidcapNavi Large & Midcap | Zerodha ELSS Tax Saver Nifty LargeMidcap 250 IndexZerodha ELSS Tax Saver Nifty LargeMidcap 250 Index | NIFTY LargeMidcap 250 TRI |
|---|---|---|---|
| 2026to date | −3.47% | −6.81% | −7.09% |
| 2025 | +3.21% | +8.44% | +8.19% |
| 2024 | +18.38% | +18.59% | +18.68% |
| 2023 | +25.80% | -- | +32.66% |
| 2022 | +2.26% | -- | +4.48% |
| 2021 | +47.12% | -- | +37.04% |
Navi Large & Midcap vs Zerodha ELSS Tax Saver 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, 485 of them, one for each trading day from 11-11-2024 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.
Navi Large & Midcap Fund (Direct)
Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund (Direct)
NIFTY LargeMidcap 250 TRI
to
Jan 2025May 2024
to
May 2025Sept 2024
to
Sept 2025Jan 2025
to
Jan 2026May 2025
to
May 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Navi Large & Midcap | 15.5 | 32.8 | 25.2 | 16.7 | 3.3 | 3.9 | 2.7 | 6.6% | 5.3% | −6.7% | 28.2% | 46% |
| Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index | 13.8 | 32.2 | 29.1 | 13.4 | 4.7 | 1.9 | 4.9 | 7.0% | 5.8% | −7.7% | 33.4% | 88% |
| NIFTY LargeMidcap 250 TRI | 15.7 | 31.1 | 30.5 | 11.1 | 4.7 | 1.9 | 4.9 | 6.8% | 5.6% | −8.0% | 33.7% | -- |
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 10-11-2023. Past returns do not promise future returns.
Navi Large & Midcap vs Zerodha ELSS Tax Saver 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 01-11-2023 to 30-10-2026: 36 instalments, ₹3,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Navi Large & MidcapNavi Large & Midcap Fund (Direct) | ₹3,60,000 | ₹3,74,857 | ₹14,857 | 2.7% |
| Zerodha ELSS Tax Saver Nifty LargeMidcap 250 IndexZerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund (Direct) | ₹3,60,000 | ₹3,70,310 | ₹10,310 | 1.8% |
Navi Large & MidcapNavi Large & Midcap Fund (Direct)
Zerodha ELSS Tax Saver Nifty LargeMidcap 250 IndexZerodha ELSS Tax Saver 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.
Navi Large & Midcap vs Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Navi Large & Midcap Fund (Direct) | Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | −4.13% | −6.16% |
| Standard deviation | 15.92% | 14.85% |
| Sharpe ratio | -0.59 | -0.77 |
| Sortino ratio | -0.80 | -1.02 |
| Maximum drawdown | −14.6% (31-03-2026) | −14.3% (30-03-2026) |
| Beta | 1.05 | 1.00 |
| Alpha | +2.91% | +0.31% |
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 | Navi Large & Midcap Fund (Direct) | Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +14.02% | +10.56% |
| Standard deviation | 15.43% | 14.89% |
| Sharpe ratio | 0.55 | 0.31 |
| Sortino ratio | 0.73 | 0.41 |
| Maximum drawdown | −38.4% (23-03-2020) | −18.7% (28-02-2025) |
| Beta | -- | 1.00 |
| Alpha | -- | +0.12% |
From daily NAVs, 08-12-2015 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.
Navi Large & Midcap Fund (Direct)
Zerodha ELSS Tax Saver 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 |
|---|---|---|---|---|---|---|
| Navi Large & Midcap Fund (Direct) | −18.8% | 23-09-2024 | 28-02-2025 | 29-07-2026 | 17 months | −8.3% |
| Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund (Direct) | −18.7% | 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 10-11-2023, 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.
Navi Large & Midcap Fund (Direct)
Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund (Direct)
NIFTY LargeMidcap 250 TRI
Against NIFTY LargeMidcap 250 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Navi Large & Midcap Fund (Direct) | 99% | 106% | 4.40% |
| Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund (Direct) | 100% | 100% | 0.09% |
From month-end values since 10-11-2023. 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 Large & Midcap vs Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index: Portfolio Overlap
From each fund's latest monthly portfolio: Navi Large & Midcap Fund, September 2026; Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund, September 2026
Holdings in common
- Overlap
- 33.4%
- Held by both
- 60
- Only in Navi Large & Midcap
- 20
- Only in Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index
- 190
| Security | % of Navi Large & Midcap | % of Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index |
|---|---|---|
| HDFC BANK LIMITED | 2.98% | 4.22% |
| ICICI BANK LIMITED | 2.37% | 3.68% |
| LARSEN & TOUBRO LIMITED | 1.74% | 1.71% |
| RELIANCE INDUSTRIES LIMITED | 1.61% | 3.08% |
| BHARTI AIRTEL LIMITED | 1.57% | 2.08% |
| STATE BANK OF INDIA | 1.84% | 1.54% |
| AXIS BANK LIMITED | 3.19% | 1.37% |
| INFOSYS LIMITED | 1.64% | 1.36% |
| KOTAK MAHINDRA BANK LIMITED | 2.89% | 1.19% |
| THE FEDERAL BANK LIMITED | 3.15% | 0.97% |
| MAHINDRA & MAHINDRA LIMITED | 0.95% | 1.02% |
| TATA CONSULTANCY SERVICES LIMITED | 1.64% | 0.81% |
| BHARAT HEAVY ELECTRICALS LIMITED | 0.70% | 0.75% |
| INFO EDGE (INDIA) LIMITED | 1.34% | 0.58% |
| SHRIRAM FINANCE LIMITED | 1.11% | 0.53% |
| SUN PHARMACEUTICAL INDUSTRIES LIMITED | 0.53% | 0.75% |
| APL APOLLO TUBES LIMITED | 1.31% | 0.49% |
| BSE LTD | 1.27% | 0.49% |
| UNITED SPIRITS LIMITED | 1.25% | 0.49% |
| FORTIS HEALTHCARE LIMITED | 0.49% | 0.49% |
| PB FINTECH LIMITED | 0.98% | 0.46% |
| REC LIMITED | 0.59% | 0.46% |
| MAX FINANCIAL SERVICES LIMITED | 0.87% | 0.45% |
| INTERGLOBE AVIATION LIMITED | 1.11% | 0.44% |
| THE PHOENIX MILLS LIMITED | 0.73% | 0.44% |
| GLENMARK PHARMACEUTICALS LIMITED | 0.56% | 0.43% |
| ADITYA BIRLA CAPITAL LIMITED | 0.78% | 0.40% |
| UPL LIMITED | 2.59% | 0.37% |
| SUNDARAM FINANCE LIMITED | 0.45% | 0.37% |
| KEI INDUSTRIES LIMITED | 1.07% | 0.34% |
| APOLLO HOSPITALS ENTERPRISE LIMITED | 2.24% | 0.33% |
| 360 ONE WAM LIMITED | 1.45% | 0.33% |
| NMDC LIMITED | 0.50% | 0.33% |
| PRESTIGE ESTATES PROJECTS LIMITED | 0.99% | 0.31% |
| OIL INDIA LIMITED | 1.04% | 0.30% |
| SAMVARDHANA MOTHERSON INTERNATIONAL LTD | 2.65% | 0.28% |
| MAX HEALTHCARE INSTITUTE LIMITED | 0.60% | 0.27% |
| UNO MINDA LIMITED | 1.40% | 0.26% |
| OBEROI REALTY LIMITED | 1.12% | 0.26% |
| MAHINDRA & MAHINDRA FINANCIAL SERV LTD. | 0.46% | 0.26% |
| COROMANDEL INTERNATIONAL LIMITED | 0.39% | 0.26% |
| CUMMINS INDIA LIMITED | 0.73% | 0.25% |
| NIPPON LIFE INDIA ASSET MANAGEMENT LTD | 1.90% | 0.24% |
| VARUN BEVERAGES LIMITED | 1.55% | 0.23% |
| ICICI PRUDENTIAL LIFE INSURANCE COMPANY | 0.70% | 0.22% |
| ASTRAL LIMITED | 2.93% | 0.21% |
| BANK OF MAHARASHTRA | 2.37% | 0.20% |
| AJANTA PHARMA LIMITED | 0.74% | 0.20% |
| MOTILAL OSWAL FINANCIAL SERVICES LIMITED | 1.16% | 0.19% |
| HDFC ASSET MANAGEMENT COMPANY LIMITED | 1.60% | 0.18% |
| POWER FINANCE CORPORATION LIMITED | 0.81% | 0.18% |
| BANK OF BARODA | 1.35% | 0.17% |
| POLYCAB INDIA LIMITED | 0.55% | 0.17% |
| NARAYANA HRUDAYALAYA LIMITED | 1.23% | 0.15% |
| LTM LIMITED | 0.69% | 0.15% |
| GLOBAL HEALTH LIMITED | 0.56% | 0.15% |
| SIEMENS LIMITED | 0.64% | 0.13% |
| UNION BANK OF INDIA | 0.32% | 0.13% |
| ESCORTS KUBOTA LIMITED | 1.21% | 0.11% |
| HOUSING AND URBAN DEVELOPMENT CORP. LTD. | 0.77% | 0.10% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 33.4% means 33.4% 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 Navi Large & Midcap Fund
| Security | % of fund |
|---|---|
| INDEGENE LIMITED | 1.74% |
| YASH HIGHVOLTAGE LTD | 1.58% |
| RAINBOW CHILDRENS MEDICARE LIMITED | 1.42% |
| ACTION CONSTRUCTION EQUIPMENT LTD | 1.22% |
| USHA MARTIN LTD | 1.17% |
Largest holdings only in Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund
| Security | % of fund |
|---|---|
| Multi Commodity Exchange of India Limited | 1.04% |
| Bajaj Finance Limited | 1.02% |
| ITC Limited | 0.98% |
| Laurus Labs Limited | 0.95% |
| Eternal Limited | 0.90% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Navi Large & Midcap | Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index |
|---|---|---|
| Equity | 94.7% | 99.6% |
| Debt | 0.0% | 0.0% |
| Cash and others | 5.3% | 0.4% |
Market cap of stocks
| Market cap | Navi Large & Midcap | Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index |
|---|---|---|
| Large Cap | 40.3% | 52.0% |
| Mid Cap | 37.1% | 46.3% |
| Small Cap | 17.3% | 1.3% |
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 Large & Midcap | Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index |
|---|---|---|
| BANKS | 20.5% | 0.0% |
| Banks | 0.0% | 16.9% |
| CAPITAL MARKETS | 9.0% | 0.0% |
| HEALTHCARE SERVICES | 8.3% | 0.0% |
| INDUSTRIAL PRODUCTS | 7.8% | 0.0% |
| Pharmaceuticals & Biotechnology | 0.0% | 6.7% |
| Finance | 0.0% | 6.5% |
| IT - Software | 0.0% | 5.6% |
| AUTO COMPONENTS | 5.5% | 0.0% |
| FINANCE | 5.0% | 0.0% |
| Retailing | 0.0% | 4.3% |
| Automobiles | 0.0% | 4.0% |
The six largest sectors of each fund's stocks, % of the fund.
Navi Large & Midcap vs Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Navi Large & Midcap Fund | Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.65% | 0.36% |
| Base expense ratio (Direct) | 0.50% | 0.25% |
| Total expense ratio (Regular) | 2.53% | 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.
More comparisons
Each fund against the others of its category
Navi Large & Midcap Fund vs Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund: Frequently Asked Questions
What is the difference between Navi Large & Midcap Fund and Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund?
Navi Large & Midcap Fund is a Large & Mid Cap fund, Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund is an Index fund, run by Navi Mutual Fund and Zerodha Mutual Fund. Their portfolios overlap 33.4%. Navi Large & Midcap Fund charges 0.65% a year and Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund 0.36%.
Which has given higher returns, Navi Large & Midcap Fund or Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund?
Over 1 year: Navi Large & Midcap Fund −4.13%, Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund −6.16%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Navi Large & Midcap Fund or Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund?
Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund charges less: 0.36% a year against 0.65%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Navi Large & Midcap Fund and Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund overlap?
33.4%. They hold 60 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, LT. From each fund's latest monthly portfolio.
Which is riskier, Navi Large & Midcap Fund or Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund?
On SEBI's riskometer, Navi Large & Midcap Fund is rated Very High and Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund Very High. Over 1 years, the standard deviation of daily returns was 15.92% and 14.85% a year.
Can I invest in both Navi Large & Midcap Fund and Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund?
Yes. 33.4% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Navi Large & Midcap Fund and Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund?
Navi Large & Midcap Fund: Ashutosh Shirwaikar. Zerodha ELSS Tax Saver 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.