SBI Nifty Midcap 150 ETF vs Zerodha Nifty Midcap 150 ETF
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
SBI Nifty Midcap 150 ETF is a mutual fund and Zerodha Nifty Midcap 150 ETF is an ETF fund. SBI Nifty Midcap 150 ETF charges 0.27% a year and Zerodha Nifty Midcap 150 ETF 0.25%. Their portfolios overlap 99.9%: they hold 150 of the same securities.
Which is better, SBI Nifty Midcap 150 ETF or Zerodha Nifty Midcap 150 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 Midcap 150 ETF costs less: 0.25% a year against 0.27%.
- Zerodha Nifty Midcap 150 ETF fell less in its worst fall since 02-04-2026: −12.5% against −12.5%.
- Zerodha Nifty Midcap 150 ETF is the larger fund: ₹265 Cr against ₹13 Cr.
- Their portfolios overlap 99.9%: 150 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 | SBI Nifty Midcap 150 ETF | Zerodha Nifty Midcap 150 ETF |
|---|---|---|
| Fund house | SBI Mutual Fund | Zerodha Mutual Fund |
| Category | Not available | ETF |
| AUM | ₹13 Cr (30-09-2026) | ₹265 Cr (30-09-2026) |
| NAV | ₹21.11 (Regular) | ₹10.61 (Direct) |
| Expense ratio (Direct) | Not available | 0.25% |
| Expense ratio (Regular) | 0.27% | Not available |
| Riskometer | Not available | Very High |
| Benchmark | Not available | Nifty Midcap 150 TRI |
| Launch date | Not available | 12-06-2024 |
| Minimum investment | Not available | In creation unit size of 783,000 units and in multiples thereafter |
| Lock in | Not available | None |
| Fund managers | Not available | Kedarnath Mirajkar |
| Exit load | Not available | Not available |
SBI Nifty Midcap 150 ETF vs Zerodha Nifty Midcap 150 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 |
|---|---|---|---|---|---|---|---|
| SBI Nifty Midcap 150 ETF (Regular) | −3.70% | −8.53% | −4.06% | -- | -- | -- | -- |
| Zerodha Nifty Midcap 150 ETF (Direct) | −3.65% | −8.39% | −3.73% | −3.87% | -- | -- | -- |
SBI Nifty Midcap 150 ETF vs Zerodha Nifty Midcap 150 ETF: Year-wise Returns
| Year | SBISBI Nifty Midcap 150 ETF | ZerodhaZerodha Nifty Midcap 150 ETF | Nifty Midcap 150 TRI |
|---|---|---|---|
| 2026to date | -- | −4.54% | −4.97% |
| 2025 | -- | +6.41% | +5.98% |
SBI Nifty Midcap 150 ETF vs Zerodha Nifty Midcap 150 ETF: Rolling Returns
Every holding period of both funds, against Nifty Midcap 150 TRI, the benchmark of both
SBI Nifty Midcap 150 ETF vs Zerodha Nifty Midcap 150 ETF: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | SBI Nifty Midcap 150 ETF (Regular) | Zerodha Nifty Midcap 150 ETF (Direct) |
|---|---|---|
| Return (CAGR) | +11.68% | +1.52% |
| Standard deviation | 14.96% | 16.78% |
| Sharpe ratio | 0.43 | -0.25 |
| Sortino ratio | 0.62 | -0.34 |
| Maximum drawdown | −12.5% (23-10-2026) | −20.8% (28-02-2025) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.21% | +0.42% |
From daily NAVs, 02-04-2026 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.
SBI Nifty Midcap 150 ETF (Regular)
Zerodha Nifty Midcap 150 ETF (Direct)
Nifty Midcap 150 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| SBI Nifty Midcap 150 ETF (Regular) | −12.5% | 31-08-2026 | 23-10-2026 | Not yet | -- | −10.6% |
| Zerodha Nifty Midcap 150 ETF (Direct) | −12.5% | 31-08-2026 | 23-10-2026 | Not yet | -- | −10.5% |
| Nifty Midcap 150 TRI | −12.5% | 31-08-2026 | 23-10-2026 | Not yet | -- | −10.5% |
From daily values since 02-04-2026, the first day every fund has.
SBI Nifty Midcap 150 ETF vs Zerodha Nifty Midcap 150 ETF: Portfolio Overlap
From each fund's latest monthly portfolio: SBI Nifty Midcap 150 ETF, September 2026; Zerodha Nifty Midcap 150 ETF, September 2026
Holdings in common
- Overlap
- 99.9%
- Held by both
- 150
- Only in SBI Nifty Midcap 150 ETF
- 0
- Only in Zerodha Nifty Midcap 150 ETF
- 0
| Security | % of SBI Nifty Midcap 150 ETF | % of Zerodha Nifty Midcap 150 ETF |
|---|---|---|
| Multi Commodity Exchange of India Ltd. | 2.07% | 2.07% |
| The Federal Bank Ltd. | 1.93% | 1.93% |
| Laurus Labs Ltd. | 1.90% | 1.90% |
| One 97 Communications Ltd. | 1.78% | 1.78% |
| Hero MotoCorp Ltd. | 1.67% | 1.68% |
| The Indian Hotels Company Ltd. | 1.58% | 1.58% |
| Coforge Ltd. | 1.50% | 1.50% |
| Bharat Heavy Electricals Ltd. | 1.49% | 1.49% |
| IndusInd Bank Ltd. | 1.46% | 1.46% |
| AU Small Finance Bank Ltd. | 1.45% | 1.45% |
| Persistent Systems Ltd. | 1.41% | 1.41% |
| Dixon Technologies (India) Ltd. | 1.35% | 1.34% |
| IDFC First Bank Ltd. | 1.33% | 1.33% |
| Bharat Forge Ltd. | 1.32% | 1.32% |
| GE Vernova T&D India Ltd. | 1.28% | 1.28% |
| Lenskart Solutions Ltd. | 1.24% | 1.24% |
| Life Insurance Corporation of India | 1.23% | 1.23% |
| Lupin Ltd. | 1.21% | 1.21% |
| Suzlon Energy Ltd. | 1.18% | 1.18% |
| Indus Towers Ltd. | 1.18% | 1.18% |
| Info Edge (India) Ltd. | 1.16% | 1.16% |
| Aurobindo Pharma Ltd. | 1.14% | 1.14% |
| Ashok Leyland Ltd. | 1.09% | 1.09% |
| FSN E-Commerce Ventures Ltd. | 1.08% | 1.08% |
| Marico Ltd. | 1.03% | 1.03% |
| Fortis Healthcare Ltd. | 0.99% | 0.99% |
| APL Apollo Tubes Ltd. | 0.98% | 0.98% |
| United Spirits Ltd. | 0.98% | 0.99% |
| ICICI Lombard General Insurance Company Ltd. | 0.95% | 0.96% |
| Embassy Office Parks Reit | 0.94% | 0.94% |
| PB Fintech Ltd. | 0.93% | 0.93% |
| Swiggy Ltd. | 0.92% | 0.93% |
| REC Ltd. | 0.92% | 0.92% |
| Yes Bank Ltd. | 0.91% | 0.91% |
| Max Financial Services Ltd. | 0.90% | 0.90% |
| The Phoenix Mills Ltd. | 0.89% | 0.89% |
| SRF Ltd. | 0.88% | 0.88% |
| Glenmark Pharmaceuticals Ltd. | 0.87% | 0.87% |
| Radico Khaitan Ltd. | 0.84% | 0.84% |
| Hindustan Petroleum Corporation Ltd. | 0.83% | 0.83% |
| Lodha Developers Ltd. | 0.83% | 0.83% |
| GMR Airports Ltd. | 0.81% | 0.81% |
| Aditya Birla Capital Ltd. | 0.80% | 0.80% |
| Apar Industries Ltd. | 0.79% | 0.80% |
| Alkem Laboratories Ltd. | 0.77% | 0.77% |
| JSW Energy Ltd. | 0.75% | 0.75% |
| National Aluminium Company Ltd. | 0.75% | 0.75% |
| UPL Ltd. | 0.74% | 0.75% |
| Sundaram Finance Ltd. | 0.74% | 0.74% |
| Shree Cement Ltd. | 0.73% | 0.74% |
| Vishal Mega Mart Ltd. | 0.70% | 0.70% |
| Mphasis Ltd. | 0.70% | 0.70% |
| Indian Bank | 0.70% | 0.70% |
| Mankind Pharma Ltd. | 0.70% | 0.70% |
| NHPC Ltd. | 0.68% | 0.68% |
| KEI Industries Ltd. | 0.68% | 0.68% |
| 360 ONE WAM Ltd. | 0.67% | 0.67% |
| Piramal Finance Ltd. | 0.66% | 0.66% |
| IPCA Laboratories Ltd. | 0.66% | 0.66% |
| Billionbrains Garage Ventures Ltd. | 0.65% | 0.65% |
| Steel Authority of India Ltd. | 0.65% | 0.65% |
| NMDC Ltd. | 0.65% | 0.65% |
| Biocon Ltd. | 0.64% | 0.64% |
| MRF Ltd. | 0.67% | 0.63% |
| Lloyds Metals And Energy Ltd. | 0.64% | 0.63% |
| Havells India Ltd. | 0.63% | 0.63% |
| Prestige Estates Projects Ltd. | 0.62% | 0.62% |
| Oracle Financial Services Software Ltd. | 0.62% | 0.62% |
| Tube Investments of India Ltd. | 0.62% | 0.62% |
| Voltas Ltd. | 0.60% | 0.60% |
| Oil India Ltd. | 0.60% | 0.60% |
| Jindal Stainless Ltd. | 0.58% | 0.58% |
| Torrent Power Ltd. | 0.58% | 0.58% |
| Colgate Palmolive (India) Ltd. | 0.57% | 0.57% |
| Waaree Energies Ltd. | 0.56% | 0.56% |
| L&T Finance Ltd. | 0.56% | 0.56% |
| Dabur India Ltd. | 0.55% | 0.55% |
| Supreme Industries Ltd. | 0.55% | 0.55% |
| Page Industries Ltd. | 0.55% | 0.56% |
| Godrej Properties Ltd. | 0.54% | 0.54% |
| Mahindra & Mahindra Financial Services Ltd. | 0.53% | 0.53% |
| Coromandel International Ltd. | 0.52% | 0.52% |
| Kalyan Jewellers India Ltd. | 0.52% | 0.52% |
| Petronet LNG Ltd. | 0.52% | 0.52% |
| UNO Minda Ltd. | 0.52% | 0.52% |
| JK Cement Ltd. | 0.52% | 0.52% |
| JSW Infrastructure Ltd. | 0.52% | 0.52% |
| Oberoi Realty Ltd. | 0.51% | 0.51% |
| Meesho Ltd. | 0.51% | 0.51% |
| Blue Star Ltd. | 0.49% | 0.48% |
| Tata Communications Ltd. | 0.48% | 0.48% |
| Nippon Life India Asset Management Ltd. | 0.48% | 0.48% |
| Gujarat Fluorochemicals Ltd. | 0.46% | 0.46% |
| Exide Industries Ltd. | 0.46% | 0.46% |
| PI Industries Ltd. | 0.46% | 0.46% |
| Aster DM Quality Care Ltd. | 0.46% | 0.46% |
| ICICI Prudential Asset Management Company Ltd. | 0.45% | 0.45% |
| ITC Hotels Ltd. | 0.45% | 0.45% |
| Hindustan Copper Ltd. | 0.45% | 0.45% |
| Jubilant Foodworks Ltd. | 0.44% | 0.44% |
| LG Electronics India Ltd. | 0.43% | 0.43% |
| ICICI Prudential Life Insurance Company Ltd. | 0.43% | 0.43% |
| SBI Cards & Payment Services Ltd. | 0.42% | 0.42% |
| Balkrishna Industries Ltd. | 0.42% | 0.42% |
| Astral Ltd. | 0.41% | 0.42% |
| Ajanta Pharma Ltd. | 0.41% | 0.41% |
| Adani Total Gas Ltd. | 0.41% | 0.41% |
| Bank of Maharashtra | 0.40% | 0.40% |
| Bank of India | 0.39% | 0.39% |
| LIC Housing Finance Ltd. | 0.39% | 0.39% |
| Motilal Oswal Financial Services Ltd. | 0.39% | 0.39% |
| Schaeffler India Ltd. | 0.39% | 0.39% |
| Container Corporation of India Ltd. | 0.38% | 0.38% |
| AIA Engineering Ltd. | 0.37% | 0.37% |
| Authum Investment & Infrastructure Ltd. | 0.36% | 0.36% |
| Abbott India Ltd. | 0.35% | 0.35% |
| Indian Railway Catering & Tourism Corporation Ltd. | 0.34% | 0.34% |
| Dalmia Bharat Ltd. | 0.33% | 0.33% |
| Linde India Ltd. | 0.33% | 0.33% |
| Thermax Ltd. | 0.32% | 0.32% |
| Berger Paints India Ltd. | 0.32% | 0.32% |
| General Insurance Corporation of India | 0.32% | 0.32% |
| HDB Financial Services Ltd. | 0.32% | 0.32% |
| Premier Energies Ltd | 0.31% | 0.31% |
| Patanjali Foods Ltd. | 0.31% | 0.31% |
| Cochin Shipyard Ltd. | 0.31% | 0.31% |
| Narayana Hrudayalaya Ltd. | 0.31% | 0.30% |
| Global Health Ltd. | 0.30% | 0.30% |
| K.P.R. Mill Ltd. | 0.30% | 0.30% |
| Glaxosmithkline Pharmaceuticals Ltd. | 0.28% | 0.28% |
| Rail Vikas Nigam Ltd. | 0.28% | 0.28% |
| CRISIL Ltd. | 0.27% | 0.27% |
| Bharti Hexacom Ltd. | 0.26% | 0.26% |
| Bharat Dynamics Ltd. | 0.25% | 0.25% |
| Anthem Biosciences Ltd. | 0.23% | 0.23% |
| NLC India Ltd. | 0.23% | 0.23% |
| Endurance Technologies Ltd. | 0.23% | 0.23% |
| L&T Technology Services Ltd. | 0.22% | 0.22% |
| Escorts Kubota Ltd. | 0.22% | 0.22% |
| Indian Renewable Energy Development Agency Ltd. | 0.22% | 0.22% |
| Bajaj Housing Finance Ltd. | 0.22% | 0.22% |
| Housing and Urban Development Corporation Ltd. | 0.21% | 0.21% |
| NTPC Green Energy Ltd. | 0.21% | 0.21% |
| United Breweries Ltd. | 0.21% | 0.21% |
| Tata Investment Corporation Ltd. | 0.20% | 0.20% |
| Godfrey Phillips India Ltd. | 0.19% | 0.19% |
| Hexaware Technologies Ltd. | 0.18% | 0.18% |
| Fertilisers And Chemicals Travancore Ltd. | 0.12% | 0.12% |
| Godrej Industries Ltd. | 0.11% | 0.11% |
| Indian Overseas Bank | 0.11% | 0.11% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 99.9% means 99.9% 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 SBI Nifty Midcap 150 ETF
Every holding of this fund is also held by the other.
Largest holdings only in Zerodha Nifty Midcap 150 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 | SBI Nifty Midcap 150 ETF | Zerodha Nifty Midcap 150 ETF |
|---|---|---|
| Equity | 99.0% | 99.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 1.0% | 1.0% |
Market cap of stocks
| Market cap | SBI Nifty Midcap 150 ETF | Zerodha Nifty Midcap 150 ETF |
|---|---|---|
| Large Cap | 5.7% | 5.7% |
| Mid Cap | 90.8% | 90.8% |
| Small Cap | 2.5% | 2.5% |
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 | SBI Nifty Midcap 150 ETF | Zerodha Nifty Midcap 150 ETF |
|---|---|---|
| Pharmaceuticals & Biotechnology | 9.2% | 9.2% |
| Banks | 8.7% | 8.7% |
| Finance | 6.8% | 6.8% |
| Electrical Equipment | 5.9% | 5.9% |
| Retailing | 5.6% | 5.6% |
| Capital Markets | 4.7% | 4.7% |
The six largest sectors of each fund's stocks, % of the fund.
SBI Nifty Midcap 150 ETF vs Zerodha Nifty Midcap 150 ETF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | SBI Nifty Midcap 150 ETF | Zerodha Nifty Midcap 150 ETF |
|---|---|---|
| Total expense ratio (Direct) | Not available | 0.25% |
| Base expense ratio (Direct) | 0.00% | 0.15% |
| Total expense ratio (Regular) | 0.27% | Not available |
| Base expense ratio (Regular) | 0.17% | 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.
SBI Nifty Midcap 150 ETF vs Zerodha Nifty Midcap 150 ETF: Frequently Asked Questions
What is the difference between SBI Nifty Midcap 150 ETF and Zerodha Nifty Midcap 150 ETF?
SBI Nifty Midcap 150 ETF is a mutual fund, Zerodha Nifty Midcap 150 ETF is an ETF fund, run by SBI Mutual Fund and Zerodha Mutual Fund. Their portfolios overlap 99.9%. SBI Nifty Midcap 150 ETF charges 0.27% a year and Zerodha Nifty Midcap 150 ETF 0.25%.
Which has the lower expense ratio, SBI Nifty Midcap 150 ETF or Zerodha Nifty Midcap 150 ETF?
Zerodha Nifty Midcap 150 ETF charges less: 0.25% a year against 0.27%. These are the total expense ratios reported to AMFI.
How much do SBI Nifty Midcap 150 ETF and Zerodha Nifty Midcap 150 ETF overlap?
99.9%. They hold 150 of the same securities, the largest shared ones being MCX, FEDERALBNK, LAURUSLABS. From each fund's latest monthly portfolio.
Can I invest in both SBI Nifty Midcap 150 ETF and Zerodha Nifty Midcap 150 ETF?
Yes. 99.9% of each fund's money sits in the same holdings, so a large part 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.