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    UTI Nifty 50 Index Fund vs Zerodha Nifty 50 ETF

    Direct Plan, Growth option · Data as on 30-10-2026

    UTI Nifty 50 Index Fund is an Index fund and Zerodha Nifty 50 ETF is an ETF fund. In the year to 30-10-2026, UTI Nifty 50 Index Fund (Direct) returned −10.2% and Zerodha Nifty 50 ETF (Direct) returned −9.9%. UTI Nifty 50 Index Fund charges 0.25% a year and Zerodha Nifty 50 ETF 0.06% (Direct plans). Their portfolios overlap 100.0%: they hold 50 of the same securities.

    UTI Nifty 50 Index Fund

    Index

    1 year return
    −10.2%
    Expense ratio
    0.25%
    NAV
    ₹162.38
    See UTI Nifty 50 Index Fund

    Zerodha Nifty 50 ETF

    ETF

    1 year return
    −9.9%
    Expense ratio
    0.06%
    NAV
    ₹9.27
    See Zerodha Nifty 50 ETF

    Which is better, UTI Nifty 50 Index or Zerodha Nifty 50 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 50 ETF returned more over 1 year: −9.9% against −10.2%.
    • Zerodha Nifty 50 ETF costs less: 0.06% a year against 0.25% (Direct plans).
    • Zerodha Nifty 50 ETF fell less in its worst fall since 20-10-2025: −15.0% against −15.1%.
    • UTI Nifty 50 Index is the larger fund: ₹28,064 Cr against ₹71 Cr.
    • Their portfolios overlap 100.0%: 50 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

    FactUTI Nifty 50 Index FundZerodha Nifty 50 ETF
    Fund houseUTI Mutual FundZerodha Mutual Fund
    CategoryIndexETF
    AUM₹28,064 Cr (30-09-2026)₹71 Cr (30-09-2026)
    NAV₹162.38 (Direct)₹9.27 (Direct)
    Expense ratio (Direct)0.25%0.06%
    Expense ratio (Regular)0.37%Not available
    RiskometerVery HighVery High
    BenchmarkNifty 50 TRINifty 50 TRI
    Launch date06-04-200014-10-2025
    Minimum investmentRegular Plan-Growth- Rs.1000, Regular Plan-Reinvestment of IDCW- Rs.1000, Regular Plan-Payout of IDCW- Rs.1000, Direct Plan-Growth- Rs.1000, Direct Plan-Reinvestment of IDCW- Rs.1000, Direct Plan-Payout of IDCW- Rs.1000,In creation unit size of 4,00,000 Units and in multiples thereof
    Lock inNoneNone
    Fund managersSharwan Kumar Goyal FM 1, Ayush Jain FM 2, Lokesh Kulthia FM 3Kedarnath Mirajkar
    Exit loadNilNil

    UTI Nifty 50 Index vs Zerodha Nifty 50 ETF: Returns Comparison

    Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.

    Fund1M3M6M1Y3Y5Y10Y
    UTI Nifty 50 Index Fund (Direct)+1.94%−5.06%−3.22%−10.16%+7.39%+6.46%+11.36%
    Zerodha Nifty 50 ETF (Direct)+1.97%−4.94%−3.02%−9.90%------

    UTI Nifty 50 Index vs Zerodha Nifty 50 ETF: Year-wise Returns

    YearUTI Nifty 50 IndexUTI Nifty 50 IndexZerodha Nifty 50 ETFZerodha Nifty 50 ETFNifty 50 TRI
    2026to date−11.05%−10.74%−10.91%
    2025+11.68%--+11.88%
    2024+9.80%--+10.09%
    2023+21.04%--+21.30%
    2022+5.44%--+5.69%
    2021+25.30%--+25.59%

    UTI Nifty 50 Index vs Zerodha Nifty 50 ETF: Rolling Returns

    Every holding period of both funds, against Nifty 50 TRI, the benchmark of both

    UTI Nifty 50 Index vs Zerodha Nifty 50 ETF: 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

    Step up each year
    PeriodFor

    ₹10,000 on the first trading day of every month, from 01-10-2025 to 30-10-2026: 13 instalments, ₹1,30,000 in all.

    InvestmentInvestedValue nowGainReturn a year
    UTI Nifty 50 IndexUTI Nifty 50 Index Fund (Direct) ₹1,30,000 ₹1,23,361 −₹6,639 −8.7%
    Zerodha Nifty 50 ETFZerodha Nifty 50 ETF (Direct) ₹1,30,000 ₹1,23,368 −₹6,632 −8.8%
    ₹0₹50,000₹1.0 L₹1.5 L
    2026
    UTI Nifty 50 IndexUTI Nifty 50 Index Fund (Direct)Zerodha Nifty 50 ETFZerodha Nifty 50 ETF (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.

    UTI Nifty 50 Index vs Zerodha Nifty 50 ETF: Risk and Drawdowns

    How much each fund swings, and the worst fall over the same days

    Risk and return

    MeasureUTI Nifty 50 Index Fund (Direct)Zerodha Nifty 50 ETF (Direct)
    Return (CAGR)−10.16%−9.90%
    Standard deviation13.61%13.75%
    Sharpe ratio-1.13-1.10
    Sortino ratio-1.51-1.47
    Maximum drawdown−15.1% (31-03-2026)−15.0% (30-03-2026)
    Beta1.001.00
    Alpha−0.17%+0.07%

    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.

    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.

    −20%−15%−10%−5%0%
    2026
    UTI Nifty 50 Index Fund (Direct)Zerodha Nifty 50 ETF (Direct)Nifty 50 TRI
    FundWorst fallHigh before itBottomBack at the highTime to climb backBelow its high today
    UTI Nifty 50 Index Fund (Direct)−15.1%02-01-202631-03-2026Not yet--−11.7%
    Zerodha Nifty 50 ETF (Direct)−15.0%02-01-202630-03-2026Not yet--−11.4%
    Nifty 50 TRI−15.1%02-01-202630-03-2026Not yet--−11.6%

    From daily values since 20-10-2025, 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.

    0%5%10%15%
    UTI Nifty 50 Index Fund (Direct)Zerodha Nifty 50 ETF (Direct)Nifty 50 TRI

    Against Nifty 50 TRI

    FundUp captureDown captureTracking error
    UTI Nifty 50 Index Fund (Direct)100%100%0.02%
    Zerodha Nifty 50 ETF (Direct)100%99%0.13%

    From month-end values since 20-10-2025. 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.

    UTI Nifty 50 Index vs Zerodha Nifty 50 ETF: Portfolio Overlap

    From each fund's latest monthly portfolio: UTI Nifty 50 Index Fund, September 2026; Zerodha Nifty 50 ETF, September 2026

    Holdings in common

    Overlap
    100.0%
    Held by both
    50
    Only in UTI Nifty 50 Index
    0
    Only in Zerodha Nifty 50 ETF
    0
    Security% of UTI Nifty 50 Index% of Zerodha Nifty 50 ETF
    EQ - HDFC BANK LIMITED10.38%10.37%
    EQ - ICICI BANK LTD9.05%9.05%
    EQ - RELIANCE INDUSTRIES LTD.7.59%7.58%
    EQ - BHARTI AIRTEL LTD.5.11%5.10%
    EQ - LARSEN & TOUBRO LTD.4.21%4.20%
    EQ - STATE BANK OF INDIA3.79%3.79%
    EQ - AXIS BANK LTD.3.37%3.37%
    EQ - INFOSYS LTD.3.36%3.35%
    EQ - KOTAK MAHINDRA BANK LTD.2.93%2.93%
    EQ - MAHINDRA & MAHINDRA LTD.2.52%2.52%

    Overlap: for each holding both funds own, the smaller of its two weights, added up. 100.0% means 100.0% 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 UTI Nifty 50 Index Fund

    Every holding of this fund is also held by the other.

    Largest holdings only in Zerodha Nifty 50 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

    AssetUTI Nifty 50 IndexZerodha Nifty 50 ETF
    Equity100.0%100.0%
    Debt0.0%0.0%
    Cash and others-0.0%0.0%

    Market cap of stocks

    Market capUTI Nifty 50 IndexZerodha Nifty 50 ETF
    Large Cap98.7%98.6%
    Mid Cap1.4%1.4%
    Small Cap0.0%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

    SectorUTI Nifty 50 IndexZerodha Nifty 50 ETF
    Banks29.5%29.5%
    Petroleum Products7.6%7.6%
    IT - Software7.5%7.5%
    Automobiles6.7%6.6%
    Finance5.5%5.5%
    Telecom - Services5.1%5.1%

    The six largest sectors of each fund's stocks, % of the fund.

    UTI Nifty 50 Index vs Zerodha Nifty 50 ETF: Expense Ratio

    What each plan charges a year, from AMFI's expense ratio file

    ChargeUTI Nifty 50 Index FundZerodha Nifty 50 ETF
    Total expense ratio (Direct)0.25%0.06%
    Base expense ratio (Direct)0.18%0.04%
    Total expense ratio (Regular)0.37%Not available
    Base expense ratio (Regular)0.28%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.

    UTI Nifty 50 Index Fund vs Zerodha Nifty 50 ETF: Frequently Asked Questions

    What is the difference between UTI Nifty 50 Index Fund and Zerodha Nifty 50 ETF?

    UTI Nifty 50 Index Fund is an Index fund, Zerodha Nifty 50 ETF is an ETF fund, run by UTI Mutual Fund and Zerodha Mutual Fund. Their portfolios overlap 100.0%. UTI Nifty 50 Index Fund charges 0.25% a year and Zerodha Nifty 50 ETF 0.06%.

    Which has given higher returns, UTI Nifty 50 Index Fund or Zerodha Nifty 50 ETF?

    Over 1 year: UTI Nifty 50 Index Fund −10.16%, Zerodha Nifty 50 ETF −9.90%. As on 30-10-2026. Past returns do not promise future returns.

    Which has the lower expense ratio, UTI Nifty 50 Index Fund or Zerodha Nifty 50 ETF?

    Zerodha Nifty 50 ETF charges less: 0.06% a year against 0.25%. These are the Direct plans' total expense ratios reported to AMFI.

    How much do UTI Nifty 50 Index Fund and Zerodha Nifty 50 ETF overlap?

    100.0%. They hold 50 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, RELIANCE. From each fund's latest monthly portfolio.

    Which is riskier, UTI Nifty 50 Index Fund or Zerodha Nifty 50 ETF?

    On SEBI's riskometer, UTI Nifty 50 Index Fund is rated Very High and Zerodha Nifty 50 ETF Very High. Over 1 years, the standard deviation of daily returns was 13.61% and 13.75% a year.

    Can I invest in both UTI Nifty 50 Index Fund and Zerodha Nifty 50 ETF?

    Yes. 100.0% of each fund's money sits in the same holdings, so a large part of the two investments would move together.

    Who manages UTI Nifty 50 Index Fund and Zerodha Nifty 50 ETF?

    UTI Nifty 50 Index Fund: Sharwan Kumar Goyal FM 1, Ayush Jain FM 2, Lokesh Kulthia FM 3. Zerodha Nifty 50 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.

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