Tata Retirement Savings Fund Conservative vs Zerodha Life Cycle Fund 2031
Direct Plan, Growth option · Data as on 30-10-2026
Tata Retirement Savings Fund Conservative is a Solution fund and Zerodha Life Cycle Fund 2031 is a mutual fund. Tata Retirement Savings Fund Conservative charges 1.04% a year and Zerodha Life Cycle Fund 2031 2.98% (Direct plans). Their portfolios overlap 18.9%: they hold 35 of the same securities.
Tata Retirement Savings Fund Conservative
Solution
- Expense ratio
- 1.04%
- NAV
- ₹37.87
Which is better, Tata Retirement Savings Fund Conservative or Zerodha Life Cycle Fund 2031? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Tata Retirement Savings Fund Conservative costs less: 1.04% a year against 2.98% (Direct plans).
- Tata Retirement Savings Fund Conservative fell less in its worst fall since 18-09-2026: −3.7% against −4.4%.
- Zerodha Life Cycle Fund 2031 holds more in large companies: 34.8% of the fund in large caps against 14.8%.
- Tata Retirement Savings Fund Conservative is the larger fund: ₹165 Cr against ₹10 Cr.
- Their portfolios overlap 18.9%: 35 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 | Tata Retirement Savings Fund Conservative | Zerodha Life Cycle Fund 2031 |
|---|---|---|
| Fund house | Tata Mutual Fund | Zerodha Mutual Fund |
| Category | Solution | Not available |
| AUM | ₹165 Cr (30-09-2026) | ₹10 Cr (30-09-2026) |
| NAV | ₹37.87 (Direct) | ₹9.74 (Direct) |
| Expense ratio (Direct) | 1.04% | 2.98% |
| Expense ratio (Regular) | 2.16% | Not available |
| Riskometer | Moderately High | High |
| Benchmark | CRISIL Short Term Debt Hybrid 75+25 Index | 55% CRISIL 10 year Gilt Index + 35% Nifty 200 TRI + 5% Domestic prices of Physical Gold + 5% Domestic prices of Physical |
| Launch date | 01-11-2011 | 16-09-2026 |
| Minimum investment | ₹5,000 | ₹100 |
| Lock in | 5 years, or until retirement if earlier | Not available |
| Fund managers | Sonam Udasi, Murthy Nagarajan, Amit Somani | Kedarnath Mirajkar |
| Exit load | A) If redeemed / switched-out on or after attainment of retirement age i.e. 60 years of age - Nil. B) In case of Auto switch-out of units on occurrence of “Auto-switch trigger event” - Nil. C) 1% -If redeemed before 61 months from the date of allotment. | Nil |
Tata Retirement Savings Fund Conservative vs Zerodha Life Cycle Fund 2031: 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 |
|---|---|---|---|---|---|---|---|
| Tata Retirement Savings Fund Conservative (Direct) | −1.16% | −2.71% | +0.51% | +0.92% | +7.22% | +6.23% | +7.90% |
| Zerodha Life Cycle Fund 2031 (Direct) | −1.18% | -- | -- | -- | -- | -- | -- |
Tata Retirement Savings Fund Conservative vs Zerodha Life Cycle Fund 2031: Year-wise Returns
| Year | Tata Retirement Savings Fund ConservativeTata Retirement Savings Fund Conservative | Zerodha Life Cycle Fund 2031Zerodha Life Cycle Fund 2031 |
|---|---|---|
| 2026to date | +0.55% | -- |
| 2025 | +4.84% | -- |
| 2024 | +11.23% | -- |
| 2023 | +13.37% | -- |
| 2022 | +1.30% | -- |
| 2021 | +8.87% | -- |
Tata Retirement Savings Fund Conservative vs Zerodha Life Cycle Fund 2031: Rolling Returns
Every holding period of both funds
Tata Retirement Savings Fund Conservative vs Zerodha Life Cycle Fund 2031: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Tata Retirement Savings Fund Conservative (Direct) | Zerodha Life Cycle Fund 2031 (Direct) |
|---|---|---|
| Return (CAGR) | +9.24% | −25.51% |
| Standard deviation | 4.79% | 7.90% |
| Sharpe ratio | 0.67 | -3.93 |
| Sortino ratio | 0.92 | -4.33 |
| Maximum drawdown | −11.0% (23-03-2020) | −4.4% (23-10-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 08-01-2013 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.
Tata Retirement Savings Fund Conservative (Direct)
Zerodha Life Cycle Fund 2031 (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Tata Retirement Savings Fund Conservative (Direct) | −3.7% | 23-09-2026 | 23-10-2026 | Not yet | -- | −2.8% |
| Zerodha Life Cycle Fund 2031 (Direct) | −4.4% | 23-09-2026 | 23-10-2026 | Not yet | -- | −3.5% |
From daily values since 18-09-2026, the first day every fund has.
Tata Retirement Savings Fund Conservative vs Zerodha Life Cycle Fund 2031: Portfolio Overlap
From each fund's latest monthly portfolio: Tata Retirement Savings Fund Conservative, September 2026; Zerodha Life Cycle Fund 2031, September 2026
Holdings in common
- Overlap
- 18.9%
- Held by both
- 35
- Only in Tata Retirement Savings Fund Conservative
- 21
- Only in Zerodha Life Cycle Fund 2031
- 218
| Security | % of Tata Retirement Savings Fund Conservative | % of Zerodha Life Cycle Fund 2031 |
|---|---|---|
| GOI - 6.36% (16/02/2031) | 8.89% | 26.91% |
| ICICI BANK LTD | 1.44% | 1.76% |
| RELIANCE INDUSTRIES LTD | 1.16% | 1.49% |
| KOTAK MAHINDRA BANK LTD | 0.68% | 0.57% |
| BSE LTD | 0.55% | 0.77% |
| MULTI COMMODITY EXCHANGE OF IND LTD | 1.09% | 0.51% |
| ETERNAL LTD | 1.22% | 0.43% |
| ONE 97 COMMUNICATIONS LTD | 0.64% | 0.43% |
| SUN PHARMACEUTICAL INDUSTRIES LTD | 0.59% | 0.36% |
| TITAN COMPANY LTD | 0.60% | 0.35% |
| DIXON TECHNOLOGIES (INDIA) LTD | 0.78% | 0.33% |
| TATA CONSULTANCY SERVICES LTD | 0.33% | 0.39% |
| POLYCAB INDIA LTD | 0.58% | 0.26% |
| SHRIRAM FINANCE LTD | 0.32% | 0.26% |
| MARUTI SUZUKI INDIA LTD | 0.26% | 0.28% |
| ADANI PORTS AND SPECIAL ECONOMIC ZONE LTD | 0.78% | 0.25% |
| HCL TECHNOLOGIES LTD | 0.47% | 0.24% |
| PB FINTECH LTD | 0.41% | 0.22% |
| RADICO KHAITAN LTD | 0.71% | 0.21% |
| COAL INDIA LTD | 0.99% | 0.19% |
| NESTLE INDIA LTD | 0.53% | 0.17% |
| 360 ONE WAM LTD | 0.60% | 0.16% |
| ADANI POWER LTD | 0.34% | 0.16% |
| OIL INDIA LTD | 0.53% | 0.15% |
| APOLLO HOSPITALS ENTERPRISE LTD | 0.40% | 0.15% |
| NIPPON LIFE INDIA ASSET MANAGEMENT LTD | 0.58% | 0.12% |
| EXIDE INDUSTRIES LTD | 0.70% | 0.11% |
| TATA CONSUMER PRODUCTS LTD | 0.61% | 0.11% |
| VARUN BEVERAGES LTD | 0.31% | 0.11% |
| BILLIONBRAINS GARAGE VENTURES LTD (GROWW) | 0.53% | 0.09% |
| SOLAR INDUSTRIES INDIA LTD | 1.50% | 0.08% |
| ADANI ENERGY SOLUTIONS LTD | 0.14% | 0.08% |
| GLAXOSMITHKLINE PHARMACEUTICALS LTD | 0.27% | 0.07% |
| MUTHOOT FINANCE LTD | 0.31% | 0.05% |
| GODREJ INDUSTRIES LTD | 0.25% | 0.03% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 18.9% means 18.9% 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 Tata Retirement Savings Fund Conservative
| Security | % of fund |
|---|---|
| GOI - 6.79% (07/10/2034) | 20.67% |
| GOI - 7.17% (17/04/2030) | 9.15% |
| GOI - 7.38% (20/06/2027) | 9.14% |
| GOI - 7.36% (12/09/2052) | 5.85% |
| GOI - 6.90% (15/04/2065) | 5.42% |
Largest holdings only in Zerodha Life Cycle Fund 2031
| Security | % of fund |
|---|---|
| Bharti Airtel Limited | 5.05% |
| The Federal Bank Limited | 4.34% |
| IndusInd Bank Limited | 4.04% |
| Infosys Limited | 3.74% |
| Bajaj Finance Limited | 2.58% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Tata Retirement Savings Fund Conservative | Zerodha Life Cycle Fund 2031 |
|---|---|---|
| Equity | 27.1% | 65.8% |
| Debt | 62.0% | 26.9% |
| Cash and others | 10.9% | 7.3% |
Market cap of stocks
| Market cap | Tata Retirement Savings Fund Conservative | Zerodha Life Cycle Fund 2031 |
|---|---|---|
| Large Cap | 14.8% | 34.8% |
| Mid Cap | 5.9% | 28.5% |
| Small Cap | 6.0% | 2.5% |
| Not on AMFI's list | 0.4% | 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 | Tata Retirement Savings Fund Conservative | Zerodha Life Cycle Fund 2031 |
|---|---|---|
| Banks | 2.7% | 15.7% |
| Finance | 0.9% | 6.5% |
| IT - Software | 1.0% | 5.9% |
| Telecom - Services | 0.0% | 5.8% |
| Capital Markets | 3.4% | 1.9% |
| Pharmaceuticals & Biotechnology | 0.9% | 3.3% |
| Automobiles | 1.3% | 1.9% |
| Consumer Durables | 1.4% | 1.6% |
| Chemicals & Petrochemicals | 1.5% | 0.6% |
| Industrial Products | 1.4% | 1.1% |
The six largest sectors of each fund's stocks, % of the fund.
Tata Retirement Savings Fund Conservative vs Zerodha Life Cycle Fund 2031: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Tata Retirement Savings Fund Conservative | Zerodha Life Cycle Fund 2031 |
|---|---|---|
| Total expense ratio (Direct) | 1.04% | 2.98% |
| Base expense ratio (Direct) | 0.85% | 0.42% |
| Total expense ratio (Regular) | 2.16% | Not available |
| Base expense ratio (Regular) | 1.83% | 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.
Tata Retirement Savings Fund Conservative vs Zerodha Life Cycle Fund 2031: Frequently Asked Questions
What is the difference between Tata Retirement Savings Fund Conservative and Zerodha Life Cycle Fund 2031?
Tata Retirement Savings Fund Conservative is a Solution fund, Zerodha Life Cycle Fund 2031 is a mutual fund, run by Tata Mutual Fund and Zerodha Mutual Fund. Their portfolios overlap 18.9%. Tata Retirement Savings Fund Conservative charges 1.04% a year and Zerodha Life Cycle Fund 2031 2.98%.
Which has the lower expense ratio, Tata Retirement Savings Fund Conservative or Zerodha Life Cycle Fund 2031?
Tata Retirement Savings Fund Conservative charges less: 1.04% a year against 2.98%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Tata Retirement Savings Fund Conservative and Zerodha Life Cycle Fund 2031 overlap?
18.9%. They hold 35 of the same securities, the largest shared ones being GOI - 6.36% (16/02/2031), ICICIBANK, RELIANCE. From each fund's latest monthly portfolio.
Which is riskier, Tata Retirement Savings Fund Conservative or Zerodha Life Cycle Fund 2031?
On SEBI's riskometer, Tata Retirement Savings Fund Conservative is rated Moderately High and Zerodha Life Cycle Fund 2031 High. Over their common history, the standard deviation of daily returns was 4.79% and 7.90% a year.
Can I invest in both Tata Retirement Savings Fund Conservative and Zerodha Life Cycle Fund 2031?
Yes. 18.9% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Tata Retirement Savings Fund Conservative and Zerodha Life Cycle Fund 2031?
Tata Retirement Savings Fund Conservative: Sonam Udasi, Murthy Nagarajan, Amit Somani. Zerodha Life Cycle Fund 2031: 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.