Tata Retirement Savings Fund Conservative vs Zerodha Nifty LargeMidcap 250 Index Fund
Direct Plan, Growth option · Data as on 30-10-2026
Tata Retirement Savings Fund Conservative is a Solution fund and Zerodha Nifty LargeMidcap 250 Index Fund is an Index fund. In the year to 30-10-2026, Tata Retirement Savings Fund Conservative (Direct) returned 0.9% and Zerodha Nifty LargeMidcap 250 Index Fund (Direct) returned −6.2%. Tata Retirement Savings Fund Conservative charges 1.04% a year and Zerodha Nifty LargeMidcap 250 Index Fund 0.38% (Direct plans). Their portfolios overlap 15.3%: they hold 35 of the same securities.
Tata Retirement Savings Fund Conservative
Solution
- 1 year return
- 0.9%
- Expense ratio
- 1.04%
- NAV
- ₹37.87
Zerodha Nifty LargeMidcap 250 Index Fund
Index
- 1 year return
- −6.2%
- Expense ratio
- 0.38%
- NAV
- ₹13.46
Which is better, Tata Retirement Savings Fund Conservative or Zerodha 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.
- Tata Retirement Savings Fund Conservative returned more over 1 year: 0.9% against −6.2%.
- Zerodha Nifty LargeMidcap 250 Index costs less: 0.38% a year against 1.04% (Direct plans).
- Tata Retirement Savings Fund Conservative fell less in its worst fall since 10-11-2023: −5.1% against −18.8%.
- Zerodha Nifty LargeMidcap 250 Index holds more in large companies: 52.0% of the fund in large caps against 14.8%.
- Zerodha Nifty LargeMidcap 250 Index is the larger fund: ₹1,569 Cr against ₹165 Cr.
- Their portfolios overlap 15.3%: 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 Nifty LargeMidcap 250 Index Fund |
|---|---|---|
| Fund house | Tata Mutual Fund | Zerodha Mutual Fund |
| Category | Solution | Index |
| AUM | ₹165 Cr (30-09-2026) | ₹1,569 Cr (30-09-2026) |
| NAV | ₹37.87 (Direct) | ₹13.46 (Direct) |
| Expense ratio (Direct) | 1.04% | 0.38% |
| Expense ratio (Regular) | 2.16% | Not available |
| Riskometer | Moderately High | Very High |
| Benchmark | CRISIL Short Term Debt Hybrid 75+25 Index | Nifty LargeMidcap 250 TRI |
| Launch date | 01-11-2011 | 08-11-2023 |
| Minimum investment | ₹5,000 | Rs. 100. |
| Lock in | 5 years, or until retirement if earlier | None |
| 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 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 |
|---|---|---|---|---|---|---|---|
| Tata Retirement Savings Fund Conservative (Direct) | −1.16% | −2.71% | +0.51% | +0.92% | +7.22% | +6.23% | +7.90% |
| Zerodha Nifty LargeMidcap 250 Index Fund (Direct) | −1.31% | −6.83% | −3.29% | −6.24% | -- | -- | -- |
Tata Retirement Savings Fund Conservative vs Zerodha Nifty LargeMidcap 250 Index: Year-wise Returns
| Year | Tata Retirement Savings Fund ConservativeTata Retirement Savings Fund Conservative | Zerodha Nifty LargeMidcap 250 IndexZerodha Nifty LargeMidcap 250 Index |
|---|---|---|
| 2026to date | +0.55% | −6.89% |
| 2025 | +4.84% | +8.37% |
| 2024 | +11.23% | +18.50% |
| 2023 | +13.37% | -- |
| 2022 | +1.30% | -- |
| 2021 | +8.87% | -- |
Tata Retirement Savings Fund Conservative vs Zerodha Nifty LargeMidcap 250 Index: Rolling Returns
Every holding period of both funds, against NIFTY LargeMidcap 250 TRI, the benchmark of Zerodha Nifty LargeMidcap 250 Index Fund
Rolling returns
Every 1-year holding period, 477 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.
Tata Retirement Savings Fund Conservative (Direct)
Zerodha 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tata Retirement Savings Fund Conservative | 0.2 | 40.5 | 49.9 | 9.4 | 0.0 | 0.0 | 0.0 | 6.2% | 5.7% | −0.3% | 14.7% | 53% |
| Zerodha Nifty LargeMidcap 250 Index | 14.4 | 31.8 | 29.7 | 12.6 | 4.7 | 1.9 | 4.9 | 6.9% | 5.7% | −7.7% | 33.3% | 81% |
| NIFTY LargeMidcap 250 TRI | 15.7 | 30.8 | 30.8 | 11.1 | 4.6 | 1.9 | 5.0 | 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.
Tata Retirement Savings Fund Conservative vs Zerodha 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 |
|---|---|---|---|---|
| Tata Retirement Savings Fund ConservativeTata Retirement Savings Fund Conservative (Direct) | ₹3,60,000 | ₹3,81,566 | ₹21,566 | 3.8% |
| Zerodha Nifty LargeMidcap 250 IndexZerodha Nifty LargeMidcap 250 Index Fund (Direct) | ₹3,60,000 | ₹3,69,843 | ₹9,843 | 1.8% |
Tata Retirement Savings Fund ConservativeTata Retirement Savings Fund Conservative (Direct)
Zerodha Nifty LargeMidcap 250 IndexZerodha 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.
Tata Retirement Savings Fund Conservative vs Zerodha Nifty LargeMidcap 250 Index: 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 Nifty LargeMidcap 250 Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +0.92% | −6.24% |
| Standard deviation | 5.09% | 14.85% |
| Sharpe ratio | -0.85 | -0.77 |
| Sortino ratio | -1.12 | -1.03 |
| Maximum drawdown | −4.7% (23-10-2026) | −14.3% (30-03-2026) |
| Beta | -- | 1.00 |
| Alpha | -- | +0.23% |
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 | Tata Retirement Savings Fund Conservative (Direct) | Zerodha Nifty LargeMidcap 250 Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.24% | +10.48% |
| Standard deviation | 4.79% | 14.89% |
| Sharpe ratio | 0.67 | 0.30 |
| Sortino ratio | 0.92 | 0.40 |
| Maximum drawdown | −11.0% (23-03-2020) | −18.8% (28-02-2025) |
| Beta | -- | 1.00 |
| Alpha | -- | +0.04% |
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 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 |
|---|---|---|---|---|---|---|
| Tata Retirement Savings Fund Conservative (Direct) | −5.1% | 11-12-2024 | 03-03-2025 | 23-04-2025 | 51 days | −3.8% |
| Zerodha Nifty LargeMidcap 250 Index Fund (Direct) | −18.8% | 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.
Tata Retirement Savings Fund Conservative (Direct)
Zerodha Nifty LargeMidcap 250 Index Fund (Direct)
NIFTY LargeMidcap 250 TRI
Against NIFTY LargeMidcap 250 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Tata Retirement Savings Fund Conservative (Direct) | 44% | 32% | 10.66% |
| Zerodha Nifty LargeMidcap 250 Index Fund (Direct) | 100% | 100% | 0.08% |
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.
Tata Retirement Savings Fund Conservative vs Zerodha Nifty LargeMidcap 250 Index: Portfolio Overlap
From each fund's latest monthly portfolio: Tata Retirement Savings Fund Conservative, September 2026; Zerodha Nifty LargeMidcap 250 Index Fund, September 2026
Holdings in common
- Overlap
- 15.3%
- Held by both
- 35
- Only in Tata Retirement Savings Fund Conservative
- 21
- Only in Zerodha Nifty LargeMidcap 250 Index
- 215
| Security | % of Tata Retirement Savings Fund Conservative | % of Zerodha Nifty LargeMidcap 250 Index |
|---|---|---|
| ICICI BANK LTD | 1.44% | 3.68% |
| RELIANCE INDUSTRIES LTD | 1.16% | 3.08% |
| MULTI COMMODITY EXCHANGE OF IND LTD | 1.09% | 1.04% |
| ETERNAL LTD | 1.22% | 0.90% |
| KOTAK MAHINDRA BANK LTD | 0.68% | 1.19% |
| DIXON TECHNOLOGIES (INDIA) LTD | 0.78% | 0.67% |
| ONE 97 COMMUNICATIONS LTD | 0.64% | 0.89% |
| TITAN COMPANY LTD | 0.60% | 0.74% |
| SUN PHARMACEUTICAL INDUSTRIES LTD | 0.59% | 0.75% |
| ADANI PORTS AND SPECIAL ECONOMIC ZONE LTD | 0.78% | 0.55% |
| BSE LTD | 0.55% | 0.49% |
| HCL TECHNOLOGIES LTD | 0.47% | 0.50% |
| RADICO KHAITAN LTD | 0.71% | 0.42% |
| PB FINTECH LTD | 0.41% | 0.46% |
| COAL INDIA LTD | 0.99% | 0.40% |
| NESTLE INDIA LTD | 0.53% | 0.36% |
| 360 ONE WAM LTD | 0.60% | 0.33% |
| APOLLO HOSPITALS ENTERPRISE LTD | 0.40% | 0.33% |
| ADANI POWER LTD | 0.34% | 0.33% |
| TATA CONSULTANCY SERVICES LTD | 0.33% | 0.81% |
| BILLIONBRAINS GARAGE VENTURES LTD (GROWW) | 0.53% | 0.32% |
| SHRIRAM FINANCE LTD | 0.32% | 0.53% |
| OIL INDIA LTD | 0.53% | 0.30% |
| MARUTI SUZUKI INDIA LTD | 0.26% | 0.60% |
| TATA CONSUMER PRODUCTS LTD | 0.61% | 0.24% |
| NIPPON LIFE INDIA ASSET MANAGEMENT LTD | 0.58% | 0.24% |
| EXIDE INDUSTRIES LTD | 0.70% | 0.23% |
| VARUN BEVERAGES LTD | 0.31% | 0.23% |
| VEDANTA ALUMINIUM METAL LTD | 0.20% | 0.27% |
| SOLAR INDUSTRIES INDIA LTD | 1.50% | 0.19% |
| POLYCAB INDIA LTD | 0.58% | 0.17% |
| GLAXOSMITHKLINE PHARMACEUTICALS LTD | 0.27% | 0.14% |
| ADANI ENERGY SOLUTIONS LTD | 0.14% | 0.17% |
| MUTHOOT FINANCE LTD | 0.31% | 0.11% |
| GODREJ INDUSTRIES LTD | 0.25% | 0.06% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 15.3% means 15.3% 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 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 - 6.36% (16/02/2031) | 8.89% |
| GOI - 7.36% (12/09/2052) | 5.85% |
Largest holdings only in Zerodha Nifty LargeMidcap 250 Index Fund
| Security | % of fund |
|---|---|
| HDFC Bank Limited | 4.22% |
| Bharti Airtel Limited | 2.07% |
| Larsen & Toubro Limited | 1.71% |
| State Bank of India | 1.54% |
| Axis Bank Limited | 1.37% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Tata Retirement Savings Fund Conservative | Zerodha Nifty LargeMidcap 250 Index |
|---|---|---|
| Equity | 27.1% | 99.6% |
| Debt | 62.0% | 0.0% |
| Cash and others | 10.9% | 0.4% |
Market cap of stocks
| Market cap | Tata Retirement Savings Fund Conservative | Zerodha Nifty LargeMidcap 250 Index |
|---|---|---|
| Large Cap | 14.8% | 52.0% |
| Mid Cap | 5.9% | 46.3% |
| Small Cap | 6.0% | 1.3% |
| 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 Nifty LargeMidcap 250 Index |
|---|---|---|
| Banks | 2.7% | 16.9% |
| Pharmaceuticals & Biotechnology | 0.9% | 6.7% |
| Finance | 0.9% | 6.5% |
| IT - Software | 1.0% | 5.6% |
| Retailing | 1.2% | 4.3% |
| Automobiles | 1.3% | 4.0% |
| Capital Markets | 3.4% | 3.0% |
| Consumer Durables | 1.4% | 3.3% |
| Industrial Products | 1.4% | 1.9% |
| Chemicals & Petrochemicals | 1.5% | 1.2% |
The six largest sectors of each fund's stocks, % of the fund.
Tata Retirement Savings Fund Conservative vs Zerodha Nifty LargeMidcap 250 Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Tata Retirement Savings Fund Conservative | Zerodha Nifty LargeMidcap 250 Index Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.04% | 0.38% |
| Base expense ratio (Direct) | 0.85% | 0.25% |
| 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 Nifty LargeMidcap 250 Index Fund: Frequently Asked Questions
What is the difference between Tata Retirement Savings Fund Conservative and Zerodha Nifty LargeMidcap 250 Index Fund?
Tata Retirement Savings Fund Conservative is a Solution fund, Zerodha Nifty LargeMidcap 250 Index Fund is an Index fund, run by Tata Mutual Fund and Zerodha Mutual Fund. Their portfolios overlap 15.3%. Tata Retirement Savings Fund Conservative charges 1.04% a year and Zerodha Nifty LargeMidcap 250 Index Fund 0.38%.
Which has given higher returns, Tata Retirement Savings Fund Conservative or Zerodha Nifty LargeMidcap 250 Index Fund?
Over 1 year: Tata Retirement Savings Fund Conservative +0.92%, Zerodha Nifty LargeMidcap 250 Index Fund −6.24%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Tata Retirement Savings Fund Conservative or Zerodha Nifty LargeMidcap 250 Index Fund?
Zerodha Nifty LargeMidcap 250 Index Fund charges less: 0.38% a year against 1.04%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Tata Retirement Savings Fund Conservative and Zerodha Nifty LargeMidcap 250 Index Fund overlap?
15.3%. They hold 35 of the same securities, the largest shared ones being ICICIBANK, RELIANCE, MCX. From each fund's latest monthly portfolio.
Which is riskier, Tata Retirement Savings Fund Conservative or Zerodha Nifty LargeMidcap 250 Index Fund?
On SEBI's riskometer, Tata Retirement Savings Fund Conservative is rated Moderately High and Zerodha Nifty LargeMidcap 250 Index Fund Very High. Over 1 years, the standard deviation of daily returns was 5.09% and 14.85% a year.
Can I invest in both Tata Retirement Savings Fund Conservative and Zerodha Nifty LargeMidcap 250 Index Fund?
Yes. 15.3% 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 Nifty LargeMidcap 250 Index Fund?
Tata Retirement Savings Fund Conservative: Sonam Udasi, Murthy Nagarajan, Amit Somani. Zerodha 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.