Zerodha Life Cycle Fund 2031 vs Zerodha Nifty LargeMidcap 250 Index Fund

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

Zerodha Life Cycle Fund 2031 is a mutual fund and Zerodha Nifty LargeMidcap 250 Index Fund is an Index fund. Zerodha Life Cycle Fund 2031 charges 2.98% a year and Zerodha Nifty LargeMidcap 250 Index Fund 0.38% (Direct plans). Their portfolios overlap 49.8%: they hold 241 of the same securities.

Zerodha Life Cycle Fund 2031

Expense ratio: 2.98%
NAV: ₹9.74

See Zerodha Life Cycle Fund 2031

Zerodha Nifty LargeMidcap 250 Index Fund

Index

Expense ratio: 0.38%
NAV: ₹13.46

See Zerodha Nifty LargeMidcap 250 Index Fund

Which is better, Zerodha Life Cycle Fund 2031 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.

Zerodha Nifty LargeMidcap 250 Index costs less: 0.38% a year against 2.98% (Direct plans).
Zerodha Life Cycle Fund 2031 fell less in its worst fall since 18-09-2026: −4.4% against −7.4%.
Zerodha Nifty LargeMidcap 250 Index holds more in large companies: 52.0% of the fund in large caps against 34.8%.
Zerodha Nifty LargeMidcap 250 Index is the larger fund: ₹1,569 Cr against ₹10 Cr.
Their portfolios overlap 49.8%: 241 of the same holdings.

Past returns do not promise future returns. This page is information, not investment advice.

NAV comparison

How each fund's NAV moved over the same days, as % change since the first day of the range

Zerodha Life Cycle Fund 2031 (Direct)
−3.3%
Zerodha Nifty LargeMidcap 250 Index Fund (Direct)
−5.1%

Change in NAV from 18-09-2026 to 30-10-2026

−6%−4%−2%0%+2%

Key facts

From each fund's scheme summary document and AMFI

Fact	Zerodha Life Cycle Fund 2031	Zerodha Nifty LargeMidcap 250 Index Fund
Fund house	Zerodha Mutual Fund	Zerodha Mutual Fund
Category	Not available	Index
AUM	₹10 Cr (30-09-2026)	₹1,569 Cr (30-09-2026)
NAV	₹9.74 (Direct)	₹13.46 (Direct)
Expense ratio (Direct)	2.98%	0.38%
Expense ratio (Regular)	Not available	Not available
Riskometer	High	Very High
Benchmark	55% CRISIL 10 year Gilt Index + 35% Nifty 200 TRI + 5% Domestic prices of Physical Gold + 5% Domestic prices of Physical	Nifty LargeMidcap 250 TRI
Launch date	16-09-2026	08-11-2023
Minimum investment	₹100	Rs. 100.
Lock in	Not available	None
Fund managers	Kedarnath Mirajkar	Kedarnath Mirajkar
Exit load	Nil	Nil

Zerodha Life Cycle Fund 2031 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
Zerodha Life Cycle Fund 2031 (Direct)	−1.18%	--	--	--	--	--	--
Zerodha Nifty LargeMidcap 250 Index Fund (Direct)	−1.31%	−6.83%	−3.29%	−6.24%	--	--	--

Zerodha Life Cycle Fund 2031 vs Zerodha Nifty LargeMidcap 250 Index: Year-wise Returns

Year	Life Cycle Fund 2031Zerodha Life Cycle Fund 2031	Nifty LargeMidcap 250 IndexZerodha Nifty LargeMidcap 250 Index
2026to date	--	−6.89%
2025	--	+8.37%
2024	--	+18.50%

Zerodha Life Cycle Fund 2031 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

Zerodha Life Cycle Fund 2031 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	Zerodha Life Cycle Fund 2031 (Direct)	Zerodha Nifty LargeMidcap 250 Index Fund (Direct)
Return (CAGR)	−25.51%	+10.48%
Standard deviation	7.90%	14.89%
Sharpe ratio	-3.93	0.30
Sortino ratio	-4.33	0.40
Maximum drawdown	−4.4% (23-10-2026)	−18.8% (28-02-2025)
Beta	--	1.00
Alpha	--	+0.04%

From daily NAVs, 18-09-2026 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.

−8%−6%−4%−2%0%

Zerodha Life Cycle Fund 2031 (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
Zerodha Life Cycle Fund 2031 (Direct)	−4.4%	23-09-2026	23-10-2026	Not yet	--	−3.5%
Zerodha Nifty LargeMidcap 250 Index Fund (Direct)	−7.4%	23-09-2026	23-10-2026	Not yet	--	−5.4%
NIFTY LargeMidcap 250 TRI	−7.4%	23-09-2026	23-10-2026	Not yet	--	−5.4%

From daily values since 18-09-2026, the first day every fund has.

Zerodha Life Cycle Fund 2031 vs Zerodha Nifty LargeMidcap 250 Index: Portfolio Overlap

From each fund's latest monthly portfolio: Zerodha Life Cycle Fund 2031, September 2026; Zerodha Nifty LargeMidcap 250 Index Fund, September 2026

Holdings in common

Overlap: 49.8%
Held by both: 241
Only in Zerodha Life Cycle Fund 2031: 12
Only in Zerodha Nifty LargeMidcap 250 Index: 9

Security	% of Zerodha Life Cycle Fund 2031	% of Zerodha Nifty LargeMidcap 250 Index
Bharti Airtel Limited	5.05%	2.07%
HDFC Bank Limited	2.02%	4.22%
ICICI Bank Limited	1.76%	3.68%
Reliance Industries Limited	1.49%	3.08%
Infosys Limited	3.74%	1.36%
Bajaj Finance Limited	2.58%	1.02%
The Federal Bank Limited	4.34%	0.96%
Larsen & Toubro Limited	0.82%	1.71%
State Bank of India	0.74%	1.54%
IndusInd Bank Limited	4.04%	0.73%
Axis Bank Limited	0.65%	1.37%
Kotak Mahindra Bank Limited	0.57%	1.19%
Multi Commodity Exchange of India Limited	0.51%	1.04%
BSE Ltd	0.77%	0.49%
Mahindra & Mahindra Limited	0.49%	1.02%
ITC Limited	0.47%	0.98%
Laurus Labs Limited	0.47%	0.95%
Eternal Limited	0.43%	0.90%
One 97 Communications Limited	0.43%	0.89%
Hero MotoCorp Limited	0.41%	0.84%
Tata Consultancy Services Limited	0.39%	0.81%
Bharat Heavy Electricals Limited	0.37%	0.75%
Coforge Limited	0.37%	0.75%
Sun Pharmaceutical Industries Limited	0.36%	0.75%
PERSISTENT SYSTEMS LTD	0.35%	0.71%
Titan Company Limited	0.35%	0.74%
AU Small Finance Bank Limited	0.35%	0.72%
IDFC First Bank Limited	0.33%	0.67%
Dixon Technologies (India) Limited	0.33%	0.67%
Hindustan Unilever Limited	0.31%	0.65%
Life Insurance Corporation Of India	0.31%	0.62%
GE Vernova T&D India Limited	0.31%	0.64%
Bharat Forge Limited	0.31%	0.66%
Lupin Limited	0.30%	0.61%
Suzlon Energy Limited	0.29%	0.59%
Indus Towers Limited	0.29%	0.59%
Tata Steel Limited	0.28%	0.59%
Aurobindo Pharma Limited	0.28%	0.57%
Maruti Suzuki India Limited	0.28%	0.60%
Info Edge (India) Limited	0.28%	0.58%
NTPC Limited	0.28%	0.60%
Ashok Leyland Limited	0.27%	0.54%
FSN E-Commerce Ventures Limited	0.27%	0.54%
Bharat Electronics Limited	0.26%	0.54%
Shriram Finance Limited	0.26%	0.53%
Hindalco Industries Limited	0.25%	0.53%
Marico Limited	0.25%	0.51%
Adani Ports and Special Economic Zone Limited	0.25%	0.55%
Fortis Healthcare Limited	0.24%	0.49%
APL Apollo Tubes Limited	0.24%	0.49%
ICICI Lombard General Insurance Company Limited	0.24%	0.48%
HCL Technologies Limited	0.24%	0.50%
UltraTech Cement Limited	0.23%	0.50%
SWIGGY LIMITED	0.22%	0.46%
JSW Steel Limited	0.22%	0.47%
Max Financial Services Limited	0.22%	0.45%
The Phoenix Mills Limited	0.22%	0.44%
Divi's Laboratories Limited	0.22%	0.46%
PB Fintech Limited	0.22%	0.46%
Yes Bank Ltd	0.22%	0.45%
SRF Limited	0.22%	0.44%
Power Grid Corporation of India Limited	0.22%	0.46%
Bajaj Auto Limited	0.22%	0.46%
Grasim Industries Limited	0.21%	0.45%
Hindustan Petroleum Corporation Limited	0.21%	0.41%
InterGlobe Aviation Limited	0.21%	0.44%
GMR Airports Limited	0.21%	0.41%
Glenmark Pharmaceuticals Limited	0.21%	0.43%
Radico Khaitan Limited	0.21%	0.42%
LIC Housing Finance Limited	1.64%	0.20%
Asian Paints Limited	0.20%	0.42%
National Aluminium Company Limited	0.19%	0.38%
Coal India Limited	0.19%	0.40%
Aditya Birla Capital Limited	0.19%	0.40%
Bajaj Finserv Limited	0.19%	0.39%
Eicher Motors Limited	0.18%	0.38%
JSW Energy Limited	0.18%	0.37%
TVS Motor Company Limited	0.18%	0.37%
Alkem Laboratories Limited	0.18%	0.38%
UPL Limited	0.18%	0.37%
Sundaram Finance Limited	0.18%	0.37%
Tech Mahindra Limited	0.18%	0.38%
Polycab India Limited	0.26%	0.17%
Vishal Mega Mart Limited	0.17%	0.35%
Nestle India Limited	0.17%	0.36%
MphasiS Limited	0.17%	0.35%
APAR INDUSTRIES LTD	0.17%	0.40%
Indian Bank	0.17%	0.35%
Mankind Pharma Limited	0.17%	0.35%
NHPC Limited	0.17%	0.34%
Hindustan Aeronautics Limited	0.16%	0.34%
Steel Authority of India Limited	0.16%	0.32%
Havells India Limited	0.16%	0.32%
Tata Motors Limited	0.16%	0.34%
Oil & Natural Gas Corporation Limited	0.16%	0.34%
Biocon Limited	0.16%	0.32%
Adani Enterprises Limited	0.16%	0.38%
360 ONE WAM LIMITED	0.16%	0.33%
IPCA Laboratories Limited	0.16%	0.33%
NMDC Limited	0.16%	0.33%
Adani Power Limited	0.16%	0.33%
Trent Limited	0.16%	0.34%
KEI Industries Limited	0.16%	0.34%
Hitachi Energy India Limited	0.21%	0.15%
Voltas Limited	0.15%	0.30%
Oil India Limited	0.15%	0.30%
Lloyds Metals And Energy Limited	0.15%	0.32%
Apollo Hospitals Enterprise Limited	0.15%	0.33%
Prestige Estates Projects Limited	0.15%	0.31%
TUBE INVESTMENTS OF INDIA LTD	0.15%	0.31%
Vodafone Idea Limited	0.22%	0.14%
Dabur India Limited	0.14%	0.28%
Cipla Limited	0.14%	0.29%
Dr. Reddy's Laboratories Limited	0.14%	0.29%
SBI Life Insurance Company Limited	0.14%	0.30%
Jindal Stainless Limited	0.14%	0.29%
Colgate Palmolive (India) Limited	0.14%	0.29%
WAAREE ENERGIES LIMITED	0.14%	0.28%
L&T Finance Limited	0.14%	0.28%
Torrent Power Limited	0.14%	0.29%
Oracle Financial Services Software Limited	0.14%	0.31%
Lenskart Solutions Limited	0.14%	0.62%
Max Healthcare Institute Limited	0.13%	0.27%
Oberoi Realty Limited	0.13%	0.26%
Cholamandalam Investment and Finance Company Limited	0.13%	0.27%
Coromandel International Limited	0.13%	0.26%
Supreme Industries Limited	0.13%	0.27%
KALYAN JEWELLERS INDIA LIMITED	0.13%	0.26%
Petronet LNG Limited	0.13%	0.26%
UNO Minda Limited	0.13%	0.26%
Godrej Properties Limited	0.13%	0.27%
Torrent Pharmaceuticals Limited	0.13%	0.27%
Jio Financial Services Limited	0.13%	0.28%
Mahindra & Mahindra Financial Services Limited	0.13%	0.26%
Samvardhana Motherson International Limited	0.13%	0.28%
JK Cement Limited	0.13%	0.26%
JSW Infrastructure Limited	0.13%	0.26%
The Indian Hotels Company Limited	0.12%	0.79%
Tata Communications Limited	0.12%	0.24%
Cummins India Limited	0.12%	0.25%
Nippon Life India Asset Management Limited	0.12%	0.24%
BLUE STAR LTD	0.12%	0.24%
MRF Limited	0.12%	0.31%
Bharat Petroleum Corporation Limited	0.11%	0.24%
CG Power and Industrial Solutions Limited	0.11%	0.23%
Gujarat Fluorochemicals Limited	0.11%	0.23%
Tata Motors Passenger Vehicles Limited	0.11%	0.23%
Tata Consumer Products Limited	0.11%	0.24%
Avenue Supermarts Limited	0.11%	0.24%
Varun Beverages Limited	0.11%	0.23%
The Tata Power Company Limited	0.11%	0.23%
Exide Industries Limited	0.11%	0.23%
LG Electronics India Limited	0.11%	0.22%
ITC Hotels Limited	0.11%	0.23%
PI Industries Limited	0.11%	0.23%
ICICI Prudential Life Insurance Company Limited	0.11%	0.22%
Page Industries Limited	0.11%	0.28%
Jubilant Foodworks Limited	0.11%	0.22%
Astral Limited	0.10%	0.21%
SBI Cards and Payment Services Limited	0.10%	0.21%
Bank of India	0.10%	0.19%
Britannia Industries Limited	0.10%	0.22%
Adani Total Gas Limited	0.10%	0.20%
Bank of Maharashtra	0.10%	0.20%
Balkrishna Industries Limited	0.10%	0.21%
HDFC Life Insurance Company Limited	0.10%	0.22%
Ajanta Pharma Limited	0.09%	0.20%
Billionbrains Garage Ventures Ltd.	0.09%	0.32%
Container Corporation of India Limited	0.09%	0.19%
GAIL (India) Limited	0.09%	0.18%
Power Finance Corporation Limited	0.09%	0.18%
Authum Investment & Infrastructure Ltd.	0.09%	0.18%
AIA Engineering Limited	0.09%	0.18%
Indian Oil Corporation Limited	0.09%	0.20%
Motilal Oswal Financial Services Limited	0.09%	0.19%
ICICI Prudential AMC Ltd	0.09%	0.23%
Schaeffler India Limited	0.09%	0.19%
Dalmia Bharat Limited	0.08%	0.16%
Bank of Baroda	0.08%	0.17%
Wipro Limited	0.08%	0.17%
Bajaj Holdings & Investment.Ltd	0.08%	0.18%
HDFC Asset Management Company Limited	0.08%	0.18%
Thermax Limited	0.08%	0.16%
Vedanta Limited	0.08%	0.18%
DLF Limited	0.08%	0.17%
Pidilite Industries Limited	0.08%	0.18%
Indian Railway Catering & Tourism Corp	0.08%	0.17%
Solar Industries India Limited	0.08%	0.19%
Abbott India Limited	0.08%	0.17%
Adani Green Energy Limited	0.08%	0.17%
Berger Paints (I) Limited	0.08%	0.16%
Linde India Limited	0.08%	0.16%
General Insurance Corporation of India	0.08%	0.16%
Patanjali Foods Limited	0.08%	0.15%
Jindal Steel Limited	0.08%	0.16%
HDB Financial Services Limited	0.08%	0.16%
Adani Energy Solutions Limited	0.08%	0.17%
REC Limited	0.07%	0.46%
ABB India Limited	0.07%	0.14%
GlaxoSmithKline Pharmaceuticals Limited	0.07%	0.14%
Punjab National Bank	0.07%	0.15%
LTM Limited	0.07%	0.15%
Bharti Hexacom Limited	0.07%	0.13%
Rail Vikas Nigam Limited	0.07%	0.14%
GLOBAL HEALTH LIMITED	0.07%	0.15%
Canara Bank	0.07%	0.16%
Cochin Shipyard Limited	0.07%	0.16%
United Spirits Limited	0.07%	0.49%
K.P.R. Mill Limited	0.07%	0.15%
Siemens Limited	0.06%	0.13%
CRISIL Limited	0.06%	0.13%
Premier Energies Limited	0.06%	0.16%
Godrej Consumer Products Limited	0.06%	0.13%
Bharat Dynamics Limited	0.06%	0.13%
Bajaj Housing Finance Limited	0.06%	0.11%
Neyveli Lignite Corporation Ltd.	0.06%	0.12%
Lodha Developers Limited	0.06%	0.41%
Union Bank of India	0.06%	0.13%
Endurance Technologies Limited	0.06%	0.12%
Zydus Lifesciences Limited	0.05%	0.11%
L&T Technology Services Limited	0.05%	0.11%
Housing & Urban Development Corporation Limited	0.05%	0.10%
Escorts Kubota Limited	0.05%	0.11%
Anthem Biosciences Limited	0.05%	0.11%
NTPC Green Energy Limited	0.05%	0.11%
Hyundai Motor India Limited	0.05%	0.11%
Siemens Energy India Limited	0.05%	0.11%
Indian Renewable Energy Development Agency Limited	0.05%	0.11%
Godfrey Phillips India Limited	0.05%	0.10%
Hindustan Zinc Limited	0.05%	0.11%
Bosch Limited	0.05%	0.16%
Muthoot Finance Limited	0.05%	0.11%
Tata Investment Corporation Ltd.	0.05%	0.10%
United Breweries Limited	0.05%	0.10%
Shree Cement Limited	0.04%	0.37%
Ambuja Cements Limited	0.04%	0.09%
Hexaware Technologies Limited	0.04%	0.09%
Indian Railway Finance Corporation Limited	0.03%	0.07%
Godrej Industries Ltd	0.03%	0.06%
Mazagon Dock Shipbuilders Limited	0.03%	0.06%
Tata Capital Ltd	0.03%	0.07%

Overlap: for each holding both funds own, the smaller of its two weights, added up. 49.8% means 49.8% 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 Zerodha Life Cycle Fund 2031

Security	% of fund
6.36% GOI 16-Feb-2031	26.91%
Zerodha Gold ETF	2.19%
Zerodha Silver ETF	2.12%
Apollo Tyres Limited	0.08%
Tata Elxsi Limited	0.06%

Largest holdings only in Zerodha Nifty LargeMidcap 250 Index Fund

Security	% of fund
Embassy Office Parks REIT	0.47%
Piramal Finance Limited	0.33%
Vedanta Aluminium Metal Limited	0.27%
Meesho Limited	0.26%
Aster DM Healthcare Limited	0.23%

Asset and sector split

Share of each fund, from its latest monthly portfolio

Asset allocation

Asset	Zerodha Life Cycle Fund 2031	Zerodha Nifty LargeMidcap 250 Index
Equity	65.8%	99.6%
Debt	26.9%	0.0%
Cash and others	7.3%	0.4%

Market cap of stocks

Market cap	Zerodha Life Cycle Fund 2031	Zerodha Nifty LargeMidcap 250 Index
Large Cap	34.8%	52.0%
Mid Cap	28.5%	46.3%
Small Cap	2.5%	1.3%

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	Zerodha Life Cycle Fund 2031	Zerodha Nifty LargeMidcap 250 Index
Banks	15.7%	16.9%
Pharmaceuticals & Biotechnology	3.3%	6.7%
Finance	6.5%	6.5%
IT - Software	5.9%	5.6%
Telecom - Services	5.8%	3.2%
Retailing	1.8%	4.3%
Automobiles	1.9%	4.0%

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

Zerodha Life Cycle Fund 2031 vs Zerodha Nifty LargeMidcap 250 Index: Expense Ratio

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

Charge	Zerodha Life Cycle Fund 2031	Zerodha Nifty LargeMidcap 250 Index Fund
Total expense ratio (Direct)	2.98%	0.38%
Base expense ratio (Direct)	0.42%	0.25%
Base expense ratio (Regular)	0.00%	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.

Zerodha Life Cycle Fund 2031 vs Zerodha Nifty LargeMidcap 250 Index Fund: Frequently Asked Questions

What is the difference between Zerodha Life Cycle Fund 2031 and Zerodha Nifty LargeMidcap 250 Index Fund?

Zerodha Life Cycle Fund 2031 is a mutual fund, Zerodha Nifty LargeMidcap 250 Index Fund is an Index fund, run by Zerodha Mutual Fund. Their portfolios overlap 49.8%. Zerodha Life Cycle Fund 2031 charges 2.98% a year and Zerodha Nifty LargeMidcap 250 Index Fund 0.38%.

Which has the lower expense ratio, Zerodha Life Cycle Fund 2031 or Zerodha Nifty LargeMidcap 250 Index Fund?

Zerodha Nifty LargeMidcap 250 Index Fund charges less: 0.38% a year against 2.98%. These are the Direct plans' total expense ratios reported to AMFI.

How much do Zerodha Life Cycle Fund 2031 and Zerodha Nifty LargeMidcap 250 Index Fund overlap?

49.8%. They hold 241 of the same securities, the largest shared ones being BHARTIARTL, HDFCBANK, ICICIBANK. From each fund's latest monthly portfolio.

Which is riskier, Zerodha Life Cycle Fund 2031 or Zerodha Nifty LargeMidcap 250 Index Fund?

On SEBI's riskometer, Zerodha Life Cycle Fund 2031 is rated High and Zerodha Nifty LargeMidcap 250 Index Fund Very High. Over their common history, the standard deviation of daily returns was 7.90% and 14.89% a year.

Can I invest in both Zerodha Life Cycle Fund 2031 and Zerodha Nifty LargeMidcap 250 Index Fund?

Yes. 49.8% of each fund's money sits in the same holdings, so a large part of the two investments would move together.

Who manages Zerodha Life Cycle Fund 2031 and Zerodha Nifty LargeMidcap 250 Index Fund?

Zerodha Life Cycle Fund 2031: Kedarnath Mirajkar. 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.