Parag Parikh Large Cap Fund vs Zerodha Nifty 100 ETF
Direct Plan, Growth option · Data as on 30-10-2026
Parag Parikh Large Cap Fund is a Large Cap fund and Zerodha Nifty 100 ETF is an ETF fund. Parag Parikh Large Cap Fund charges 0.32% a year and Zerodha Nifty 100 ETF 0.28% (Direct plans). Their portfolios overlap 99.3%: they hold 100 of the same securities.
Which is better, Parag Parikh Large Cap or Zerodha Nifty 100 ETF? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Zerodha Nifty 100 ETF costs less: 0.28% a year against 0.32% (Direct plans).
- Parag Parikh Large Cap fell less in its worst fall since 06-02-2026: −13.8% against −13.9%.
- Parag Parikh Large Cap is the larger fund: ₹866 Cr against ₹165 Cr.
- Their portfolios overlap 99.3%: 100 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 | Parag Parikh Large Cap Fund | Zerodha Nifty 100 ETF |
|---|---|---|
| Fund house | PPFAS Mutual Fund | Zerodha Mutual Fund |
| Category | Large Cap | ETF |
| AUM | ₹866 Cr (30-09-2026) | ₹165 Cr (30-09-2026) |
| NAV | ₹9.20 (Direct) | ₹10.09 (Direct) |
| Expense ratio (Direct) | 0.32% | 0.28% |
| Expense ratio (Regular) | 0.72% | Not available |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 100 TRI | Nifty 100 TRI |
| Launch date | 04-02-2026 | 12-06-2024 |
| Minimum investment | ₹1,000 | In creation unit size of 765,000 units and in multiples thereafter |
| Lock in | None | None |
| Fund managers | Rajeev Thakkar, Rukun Tarachandani, Raj Mehta, Raunak Onkar, Tejas Soman, Aishwarya Dhar | Kedarnath Mirajkar |
| Exit load | NIL | Not available |
Parag Parikh Large Cap vs Zerodha Nifty 100 ETF: 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 |
|---|---|---|---|---|---|---|---|
| Parag Parikh Large Cap Fund (Direct) | +1.04% | −5.22% | −2.88% | -- | -- | -- | -- |
| Zerodha Nifty 100 ETF (Direct) | +1.04% | −5.28% | −2.92% | −8.69% | -- | -- | -- |
| Large Cap average | +0.62% | −4.36% | −1.05% | -- | -- | -- | -- |
Category average: the average of the 35 Large Cap funds, same plan type.
Parag Parikh Large Cap vs Zerodha Nifty 100 ETF: Year-wise Returns
| Year | Parag Parikh Large CapParag Parikh Large Cap | Zerodha Nifty 100 ETFZerodha Nifty 100 ETF | Nifty 100 TRI |
|---|---|---|---|
| 2026to date | -- | −9.32% | −9.32% |
| 2025 | -- | +10.15% | +10.24% |
Parag Parikh Large Cap vs Zerodha Nifty 100 ETF: Rolling Returns
Every holding period of both funds, against Nifty 100 TRI, the benchmark of both
Parag Parikh Large Cap vs Zerodha Nifty 100 ETF: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Parag Parikh Large Cap Fund (Direct) | Zerodha Nifty 100 ETF (Direct) |
|---|---|---|
| Return (CAGR) | −10.75% | −0.19% |
| Standard deviation | 15.01% | 13.27% |
| Sharpe ratio | -1.06 | -0.45 |
| Sortino ratio | -1.40 | -0.62 |
| Maximum drawdown | −13.8% (30-03-2026) | −17.2% (28-02-2025) |
| Beta | 0.99 | 1.00 |
| Alpha | −0.02% | −0.06% |
From daily NAVs, 06-02-2026 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.
Parag Parikh Large Cap Fund (Direct)
Zerodha Nifty 100 ETF (Direct)
Nifty 100 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Parag Parikh Large Cap Fund (Direct) | −13.8% | 11-02-2026 | 30-03-2026 | Not yet | -- | −9.0% |
| Zerodha Nifty 100 ETF (Direct) | −13.9% | 11-02-2026 | 30-03-2026 | Not yet | -- | −9.1% |
| Nifty 100 TRI | −13.9% | 11-02-2026 | 30-03-2026 | Not yet | -- | −9.1% |
From daily values since 06-02-2026, the first day every fund has.
Parag Parikh Large Cap vs Zerodha Nifty 100 ETF: Portfolio Overlap
From each fund's latest monthly portfolio: Parag Parikh Large Cap Fund, September 2026; Zerodha Nifty 100 ETF, September 2026
Holdings in common
- Overlap
- 99.3%
- Held by both
- 100
- Only in Parag Parikh Large Cap
- 2
- Only in Zerodha Nifty 100 ETF
- 0
| Security | % of Parag Parikh Large Cap | % of Zerodha Nifty 100 ETF |
|---|---|---|
| HDFC Bank Limited | 8.36% | 8.41% |
| ICICI Bank Limited | 7.30% | 7.34% |
| Reliance Industries Limited | 6.18% | 6.15% |
| Bharti Airtel Limited | 4.14% | 4.14% |
| Larsen & Toubro Limited | 3.39% | 3.41% |
| State Bank of India | 3.06% | 3.07% |
| Axis Bank Limited | 2.71% | 2.73% |
| Infosys Limited | 2.70% | 2.72% |
| Kotak Mahindra Bank Limited | 2.37% | 2.38% |
| Mahindra & Mahindra Limited | 2.03% | 2.04% |
| Bajaj Finance Limited | 2.01% | 2.03% |
| ITC Limited | 1.95% | 1.96% |
| Eternal Limited | 1.78% | 1.80% |
| Tata Consultancy Services Limited | 1.61% | 1.62% |
| Sun Pharmaceutical Industries Limited | 1.48% | 1.49% |
| Titan Company Limited | 1.46% | 1.47% |
| Hindustan Unilever Limited | 1.28% | 1.29% |
| Maruti Suzuki India Limited | 1.20% | 1.21% |
| NTPC Limited | 1.18% | 1.19% |
| Tata Steel Limited | 1.17% | 1.18% |
| Adani Ports and Special Economic Zone Limited | 1.09% | 1.09% |
| Bharat Electronics Limited | 1.07% | 1.08% |
| Shriram Finance Limited | 1.06% | 1.07% |
| Hindalco Industries Limited | 1.05% | 1.06% |
| UltraTech Cement Limited | 1.00% | 1.00% |
| HCL Technologies Limited | 1.00% | 1.00% |
| BSE Limited | 0.97% | 0.98% |
| JSW Steel Limited | 0.93% | 0.93% |
| Bajaj Auto Limited | 0.93% | 0.92% |
| Divi's Laboratories Limited | 0.91% | 0.91% |
| Power Grid Corporation of India Limited | 0.91% | 0.91% |
| Grasim Industries Limited | 0.89% | 0.89% |
| InterGlobe Aviation Limited | 0.87% | 0.87% |
| Asian Paints Limited | 0.84% | 0.84% |
| Coal India Limited | 0.78% | 0.79% |
| Bajaj Finserv Limited | 0.77% | 0.78% |
| Adani Enterprises Limited | 0.77% | 0.76% |
| Eicher Motors Limited | 0.76% | 0.76% |
| Tech Mahindra Limited | 0.75% | 0.75% |
| TVS Motor Company Limited | 0.74% | 0.75% |
| Nestle India Limited | 0.72% | 0.73% |
| Hindustan Aeronautics Limited | 0.68% | 0.69% |
| Tata Motors Ltd | 0.68% | 0.68% |
| Oil & Natural Gas Corporation Limited | 0.68% | 0.68% |
| Trent Limited | 0.67% | 0.68% |
| Apollo Hospitals Enterprise Limited | 0.65% | 0.65% |
| Adani Power Limited | 0.65% | 0.66% |
| SBI Life Insurance Company Limited | 0.59% | 0.59% |
| Cipla Limited | 0.58% | 0.59% |
| Dr. Reddy's Laboratories Limited | 0.58% | 0.58% |
| Samvardhana Motherson International Limited | 0.56% | 0.56% |
| Vedanta Aluminium Metal Limited | 0.55% | 0.55% |
| Jio Financial Services Limited | 0.55% | 0.55% |
| Cholamandalam Investment and Finance Company Ltd | 0.54% | 0.54% |
| Torrent Pharmaceuticals Limited | 0.54% | 0.55% |
| Max Healthcare Institute Limited | 0.53% | 0.53% |
| Cummins India Limited | 0.50% | 0.50% |
| Bharat Petroleum Corporation Limited | 0.47% | 0.47% |
| Avenue Supermarts Limited | 0.47% | 0.47% |
| Tata Consumer Products Limited | 0.48% | 0.46% |
| Tata Motors Passenger Vehicles Limited | 0.46% | 0.46% |
| Varun Beverages Limited | 0.46% | 0.46% |
| Tata Power Company Limited | 0.46% | 0.47% |
| CG Power and Industrial Solutions Limited | 0.45% | 0.45% |
| Britannia Industries Limited | 0.44% | 0.44% |
| HDFC Life Insurance Company Limited | 0.43% | 0.43% |
| Indian Oil Corporation Limited | 0.39% | 0.39% |
| Power Finance Corporation Limited | 0.37% | 0.37% |
| Solar Industries India Limited | 0.37% | 0.37% |
| Bajaj Holdings & Investment Limited | 0.36% | 0.36% |
| HDFC Asset Management Company Limited | 0.36% | 0.35% |
| GAIL (India) Limited | 0.35% | 0.36% |
| Vedanta Limited | 0.35% | 0.35% |
| Pidilite Industries Limited | 0.35% | 0.35% |
| Bank of Baroda | 0.33% | 0.33% |
| Wipro Limited | 0.33% | 0.33% |
| DLF Limited | 0.33% | 0.33% |
| Adani Green Energy Limited | 0.33% | 0.33% |
| Polycab India Limited | 0.33% | 0.34% |
| Adani Energy Solutions Limited | 0.33% | 0.33% |
| Jindal Steel Limited | 0.32% | 0.33% |
| Bosch Limited | 0.31% | 0.31% |
| Canara Bank | 0.31% | 0.31% |
| Hitachi Energy India Limited | 0.30% | 0.31% |
| Punjab National Bank | 0.30% | 0.30% |
| LTM Limited | 0.29% | 0.29% |
| ABB India Limited | 0.27% | 0.28% |
| Vodafone Idea Limited | 0.27% | 0.28% |
| Godrej Consumer Products Limited | 0.26% | 0.26% |
| Siemens Limited | 0.25% | 0.25% |
| Union Bank of India | 0.25% | 0.25% |
| Muthoot Finance Limited | 0.23% | 0.23% |
| Zydus Lifesciences Limited | 0.22% | 0.22% |
| Hyundai Motor India Ltd | 0.22% | 0.22% |
| Siemens Energy India Limited | 0.22% | 0.22% |
| Hindustan Zinc Limited | 0.21% | 0.21% |
| Tata Capital Limited | 0.14% | 0.14% |
| Indian Railway Finance Corporation Limited | 0.14% | 0.12% |
| Mazagon Dock Shipbuilders Limited | 0.12% | 0.12% |
| Ambuja Cements Limited | 0.03% | 0.18% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 99.3% means 99.3% 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 Parag Parikh Large Cap Fund
| Security | % of fund |
|---|---|
| Orient Cement Limited | 0.15% |
| Parag Parikh Liquid Fund- Direct Plan- Growth | 0.06% |
Largest holdings only in Zerodha Nifty 100 ETF
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 | Parag Parikh Large Cap | Zerodha Nifty 100 ETF |
|---|---|---|
| Equity | 99.5% | 99.9% |
| Debt | 0.0% | 0.0% |
| Cash and others | 0.5% | 0.1% |
Market cap of stocks
| Market cap | Parag Parikh Large Cap | Zerodha Nifty 100 ETF |
|---|---|---|
| Large Cap | 97.4% | 97.9% |
| Mid Cap | 2.0% | 2.0% |
| Small Cap | 0.1% | 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 | Parag Parikh Large Cap | Zerodha Nifty 100 ETF |
|---|---|---|
| Banks | 25.0% | 25.1% |
| Petroleum Products | 7.0% | 7.0% |
| IT - Software | 6.7% | 6.7% |
| Automobiles | 6.3% | 6.4% |
| Finance | 6.2% | 6.2% |
| Telecom - Services | 4.4% | 4.4% |
The six largest sectors of each fund's stocks, % of the fund.
Parag Parikh Large Cap vs Zerodha Nifty 100 ETF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Parag Parikh Large Cap Fund | Zerodha Nifty 100 ETF |
|---|---|---|
| Total expense ratio (Direct) | 0.32% | 0.28% |
| Base expense ratio (Direct) | 0.14% | 0.22% |
| Total expense ratio (Regular) | 0.72% | Not available |
| Base expense ratio (Regular) | 0.48% | 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
Parag Parikh Large Cap Fund vs Zerodha Nifty 100 ETF: Frequently Asked Questions
What is the difference between Parag Parikh Large Cap Fund and Zerodha Nifty 100 ETF?
Parag Parikh Large Cap Fund is a Large Cap fund, Zerodha Nifty 100 ETF is an ETF fund, run by PPFAS Mutual Fund and Zerodha Mutual Fund. Their portfolios overlap 99.3%. Parag Parikh Large Cap Fund charges 0.32% a year and Zerodha Nifty 100 ETF 0.28%.
Which has the lower expense ratio, Parag Parikh Large Cap Fund or Zerodha Nifty 100 ETF?
Zerodha Nifty 100 ETF charges less: 0.28% a year against 0.32%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Parag Parikh Large Cap Fund and Zerodha Nifty 100 ETF overlap?
99.3%. They hold 100 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, RELIANCE. From each fund's latest monthly portfolio.
Which is riskier, Parag Parikh Large Cap Fund or Zerodha Nifty 100 ETF?
On SEBI's riskometer, Parag Parikh Large Cap Fund is rated Very High and Zerodha Nifty 100 ETF Very High. Over their common history, the standard deviation of daily returns was 15.01% and 13.27% a year.
Can I invest in both Parag Parikh Large Cap Fund and Zerodha Nifty 100 ETF?
Yes. 99.3% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Parag Parikh Large Cap Fund and Zerodha Nifty 100 ETF?
Parag Parikh Large Cap Fund: Rajeev Thakkar, Rukun Tarachandani, Raj Mehta, Raunak Onkar, Tejas Soman, Aishwarya Dhar. Zerodha Nifty 100 ETF: 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.