Zerodha Life Cycle Fund 2036 vs Zerodha Nifty LargeMidcap 250 Index Fund

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

Zerodha Life Cycle Fund 2036 is a mutual fund and Zerodha Nifty LargeMidcap 250 Index Fund is an Index fund. Zerodha Life Cycle Fund 2036 charges 1.02% a year and Zerodha Nifty LargeMidcap 250 Index Fund 0.38% (Direct plans). Their portfolios overlap 64.1%: they hold 241 of the same securities.

Zerodha Life Cycle Fund 2036

Expense ratio: 1.02%
NAV: ₹9.41

See Zerodha Life Cycle Fund 2036

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 2036 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 1.02% (Direct plans).
Zerodha Life Cycle Fund 2036 fell less in its worst fall since 13-07-2026: −8.8% against −10.6%.
Zerodha Nifty LargeMidcap 250 Index holds more in large companies: 52.0% of the fund in large caps against 37.2%.
Zerodha Nifty LargeMidcap 250 Index is the larger fund: ₹1,569 Cr against ₹21 Cr.
Their portfolios overlap 64.1%: 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 2036 (Direct)
−5.8%
Zerodha Nifty LargeMidcap 250 Index Fund (Direct)
−6.8%

Change in NAV from 13-07-2026 to 30-10-2026

−5%0%+5%

Key facts

From each fund's scheme summary document and AMFI

Fact	Zerodha Life Cycle Fund 2036	Zerodha Nifty LargeMidcap 250 Index Fund
Fund house	Zerodha Mutual Fund	Zerodha Mutual Fund
Category	Not available	Index
AUM	₹21 Cr (30-09-2026)	₹1,569 Cr (30-09-2026)
NAV	₹9.41 (Direct)	₹13.46 (Direct)
Expense ratio (Direct)	1.02%	0.38%
Expense ratio (Regular)	Not available	Not available
Riskometer	Very High	Very High
Benchmark	50% Nifty 200 TRI + 5% Domestic prices of Physical Gold + 5% Domestic prices of Physical Silver + 40% CRISIL 10 year Gil	Nifty LargeMidcap 250 TRI
Launch date	10-07-2026	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 2036 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 2036 (Direct)	−2.14%	−5.76%	--	--	--	--	--
Zerodha Nifty LargeMidcap 250 Index Fund (Direct)	−1.31%	−6.83%	−3.29%	−6.24%	--	--	--

Zerodha Life Cycle Fund 2036 vs Zerodha Nifty LargeMidcap 250 Index: Year-wise Returns

Year	Life Cycle Fund 2036Zerodha Life Cycle Fund 2036	Nifty LargeMidcap 250 IndexZerodha Nifty LargeMidcap 250 Index
2026to date	--	−6.89%
2025	--	+8.37%
2024	--	+18.50%

Zerodha Life Cycle Fund 2036 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 2036 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 2036 (Direct)	Zerodha Nifty LargeMidcap 250 Index Fund (Direct)
Return (CAGR)	−18.09%	+10.48%
Standard deviation	8.88%	14.89%
Sharpe ratio	-2.63	0.30
Sortino ratio	-3.09	0.40
Maximum drawdown	−8.8% (23-10-2026)	−18.8% (28-02-2025)
Beta	--	1.00
Alpha	--	+0.04%

From daily NAVs, 13-07-2026 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.

−12%−10%−8%−6%−4%−2%0%

Zerodha Life Cycle Fund 2036 (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 2036 (Direct)	−8.8%	25-08-2026	23-10-2026	Not yet	--	−7.6%
Zerodha Nifty LargeMidcap 250 Index Fund (Direct)	−10.6%	03-08-2026	23-10-2026	Not yet	--	−8.6%
NIFTY LargeMidcap 250 TRI	−10.6%	03-08-2026	23-10-2026	Not yet	--	−8.6%

From daily values since 13-07-2026, the first day every fund has.

Zerodha Life Cycle Fund 2036 vs Zerodha Nifty LargeMidcap 250 Index: Portfolio Overlap

From each fund's latest monthly portfolio: Zerodha Life Cycle Fund 2036, September 2026; Zerodha Nifty LargeMidcap 250 Index Fund, September 2026

Holdings in common

Overlap: 64.1%
Held by both: 241
Only in Zerodha Life Cycle Fund 2036: 12
Only in Zerodha Nifty LargeMidcap 250 Index: 9

Security	% of Zerodha Life Cycle Fund 2036	% of Zerodha Nifty LargeMidcap 250 Index
HDFC Bank Limited	4.24%	4.22%
ICICI Bank Limited	2.36%	3.68%
Reliance Industries Limited	1.98%	3.08%
Axis Bank Limited	2.36%	1.37%
Bharti Airtel Limited	1.32%	2.07%
Larsen & Toubro Limited	1.09%	1.71%
State Bank of India	0.98%	1.54%
Infosys Limited	0.88%	1.36%
Kotak Mahindra Bank Limited	0.76%	1.19%
Multi Commodity Exchange of India Limited	0.69%	1.04%
Mahindra & Mahindra Limited	0.65%	1.02%
The Federal Bank Limited	0.64%	0.96%
Bajaj Finance Limited	0.64%	1.02%
ITC Limited	0.63%	0.98%
Laurus Labs Limited	0.63%	0.95%
Eternal Limited	0.58%	0.90%
One 97 Communications Limited	0.58%	0.89%
Hero MotoCorp Limited	0.55%	0.84%
Tata Consultancy Services Limited	0.52%	0.81%
BSE Ltd	1.03%	0.49%
Bharat Heavy Electricals Limited	0.49%	0.75%
Coforge Limited	0.49%	0.75%
Sun Pharmaceutical Industries Limited	0.48%	0.75%
IndusInd Bank Limited	0.48%	0.73%
Titan Company Limited	0.47%	0.74%
AU Small Finance Bank Limited	0.47%	0.72%
PERSISTENT SYSTEMS LTD	0.46%	0.71%
Dixon Technologies (India) Limited	0.45%	0.67%
IDFC First Bank Limited	0.44%	0.67%
GE Vernova T&D India Limited	0.42%	0.64%
Bharat Forge Limited	0.42%	0.66%
Hindustan Unilever Limited	0.41%	0.65%
Life Insurance Corporation Of India	0.41%	0.62%
Lupin Limited	0.40%	0.61%
Suzlon Energy Limited	0.39%	0.59%
Tata Steel Limited	0.39%	0.59%
Indus Towers Limited	0.39%	0.59%
Info Edge (India) Limited	0.39%	0.58%
NTPC Limited	0.39%	0.60%
Aurobindo Pharma Limited	0.38%	0.57%
Maruti Suzuki India Limited	0.38%	0.60%
Ashok Leyland Limited	0.37%	0.54%
FSN E-Commerce Ventures Limited	0.36%	0.54%
Bharat Electronics Limited	0.35%	0.54%
Hindalco Industries Limited	0.34%	0.53%
Fortis Healthcare Limited	0.34%	0.49%
Marico Limited	0.34%	0.51%
Shriram Finance Limited	0.34%	0.53%
ICICI Lombard General Insurance Company Limited	0.33%	0.48%
UltraTech Cement Limited	0.32%	0.50%
APL Apollo Tubes Limited	0.32%	0.49%
Adani Ports and Special Economic Zone Limited	0.32%	0.55%
HCL Technologies Limited	0.32%	0.50%
Yes Bank Ltd	0.31%	0.45%
Max Financial Services Limited	0.30%	0.45%
PB Fintech Limited	0.30%	0.46%
Bajaj Auto Limited	0.30%	0.46%
SWIGGY LIMITED	0.29%	0.46%
JSW Steel Limited	0.29%	0.47%
The Phoenix Mills Limited	0.29%	0.44%
Divi's Laboratories Limited	0.29%	0.46%
InterGlobe Aviation Limited	0.29%	0.44%
Power Grid Corporation of India Limited	0.29%	0.46%
Grasim Industries Limited	0.28%	0.45%
SRF Limited	0.28%	0.44%
Glenmark Pharmaceuticals Limited	0.28%	0.43%
Hindustan Petroleum Corporation Limited	0.27%	0.41%
GMR Airports Limited	0.27%	0.41%
Radico Khaitan Limited	0.27%	0.42%
Asian Paints Limited	0.26%	0.42%
Coal India Limited	0.26%	0.40%
UPL Limited	0.26%	0.37%
Aditya Birla Capital Limited	0.25%	0.40%
Eicher Motors Limited	0.24%	0.38%
JSW Energy Limited	0.24%	0.37%
National Aluminium Company Limited	0.24%	0.38%
Nestle India Limited	0.24%	0.36%
MphasiS Limited	0.24%	0.35%
APAR INDUSTRIES LTD	0.24%	0.40%
Alkem Laboratories Limited	0.24%	0.38%
Sundaram Finance Limited	0.24%	0.37%
MRF Limited	0.24%	0.31%
Bajaj Finserv Limited	0.24%	0.39%
Vishal Mega Mart Limited	0.23%	0.35%
Hindustan Aeronautics Limited	0.23%	0.34%
TVS Motor Company Limited	0.23%	0.37%
Mankind Pharma Limited	0.23%	0.35%
Tech Mahindra Limited	0.23%	0.38%
KEI Industries Limited	0.23%	0.34%
Indian Bank	0.22%	0.35%
NHPC Limited	0.22%	0.34%
TUBE INVESTMENTS OF INDIA LTD	0.22%	0.31%
Steel Authority of India Limited	0.21%	0.32%
Tata Motors Limited	0.21%	0.34%
Oil & Natural Gas Corporation Limited	0.21%	0.34%
Biocon Limited	0.21%	0.32%
360 ONE WAM LIMITED	0.21%	0.33%
IPCA Laboratories Limited	0.21%	0.33%
NMDC Limited	0.21%	0.33%
Page Industries Limited	0.21%	0.28%
Adani Power Limited	0.21%	0.33%
Trent Limited	0.21%	0.34%
Havells India Limited	0.20%	0.32%
Oil India Limited	0.20%	0.30%
Lloyds Metals And Energy Limited	0.20%	0.32%
Adani Enterprises Limited	0.20%	0.38%
Apollo Hospitals Enterprise Limited	0.20%	0.33%
Prestige Estates Projects Limited	0.20%	0.31%
Oracle Financial Services Software Limited	0.20%	0.31%
Dr. Reddy's Laboratories Limited	0.19%	0.29%
SBI Life Insurance Company Limited	0.19%	0.30%
Jindal Stainless Limited	0.19%	0.29%
Voltas Limited	0.19%	0.30%
Colgate Palmolive (India) Limited	0.19%	0.29%
Torrent Power Limited	0.19%	0.29%
Dabur India Limited	0.18%	0.28%
Cipla Limited	0.18%	0.29%
Supreme Industries Limited	0.18%	0.27%
Petronet LNG Limited	0.18%	0.26%
WAAREE ENERGIES LIMITED	0.18%	0.28%
UNO Minda Limited	0.18%	0.26%
Godrej Properties Limited	0.18%	0.27%
L&T Finance Limited	0.18%	0.28%
Jio Financial Services Limited	0.18%	0.28%
Samvardhana Motherson International Limited	0.18%	0.28%
JK Cement Limited	0.18%	0.26%
Lenskart Solutions Limited	0.18%	0.62%
Polycab India Limited	0.35%	0.17%
Max Healthcare Institute Limited	0.17%	0.27%
Oberoi Realty Limited	0.17%	0.26%
Cholamandalam Investment and Finance Company Limited	0.17%	0.27%
Coromandel International Limited	0.17%	0.26%
KALYAN JEWELLERS INDIA LIMITED	0.17%	0.26%
Torrent Pharmaceuticals Limited	0.17%	0.27%
Mahindra & Mahindra Financial Services Limited	0.17%	0.26%
JSW Infrastructure Limited	0.17%	0.26%
Bharat Petroleum Corporation Limited	0.16%	0.24%
The Indian Hotels Company Limited	0.16%	0.79%
Tata Motors Passenger Vehicles Limited	0.16%	0.23%
Tata Consumer Products Limited	0.16%	0.24%
Avenue Supermarts Limited	0.16%	0.24%
The Tata Power Company Limited	0.16%	0.23%
Cummins India Limited	0.16%	0.25%
BLUE STAR LTD	0.16%	0.24%
Hitachi Energy India Limited	0.31%	0.15%
Gujarat Fluorochemicals Limited	0.15%	0.23%
Tata Communications Limited	0.15%	0.24%
Varun Beverages Limited	0.15%	0.23%
Nippon Life India Asset Management Limited	0.15%	0.24%
LG Electronics India Limited	0.15%	0.22%
ITC Hotels Limited	0.15%	0.23%
PI Industries Limited	0.15%	0.23%
ICICI Prudential Life Insurance Company Limited	0.15%	0.22%
Vodafone Idea Limited	0.28%	0.14%
SBI Cards and Payment Services Limited	0.14%	0.21%
CG Power and Industrial Solutions Limited	0.14%	0.23%
Britannia Industries Limited	0.14%	0.22%
Exide Industries Limited	0.14%	0.23%
Adani Total Gas Limited	0.14%	0.20%
Balkrishna Industries Limited	0.14%	0.21%
Jubilant Foodworks Limited	0.14%	0.22%
Astral Limited	0.13%	0.21%
Ajanta Pharma Limited	0.13%	0.20%
Container Corporation of India Limited	0.13%	0.19%
AIA Engineering Limited	0.13%	0.18%
ICICI Prudential AMC Ltd	0.13%	0.23%
Schaeffler India Limited	0.13%	0.19%
HDFC Life Insurance Company Limited	0.13%	0.22%
Bank of India	0.12%	0.19%
LIC Housing Finance Limited	0.12%	0.20%
HDFC Asset Management Company Limited	0.12%	0.18%
Power Finance Corporation Limited	0.12%	0.18%
Authum Investment & Infrastructure Ltd.	0.12%	0.18%
Indian Oil Corporation Limited	0.12%	0.20%
Motilal Oswal Financial Services Limited	0.12%	0.19%
Bank of Maharashtra	0.12%	0.20%
Dalmia Bharat Limited	0.11%	0.16%
Billionbrains Garage Ventures Ltd.	0.11%	0.32%
Bajaj Holdings & Investment.Ltd	0.11%	0.18%
GAIL (India) Limited	0.11%	0.18%
Thermax Limited	0.11%	0.16%
Vedanta Limited	0.11%	0.18%
DLF Limited	0.11%	0.17%
Pidilite Industries Limited	0.11%	0.18%
Indian Railway Catering & Tourism Corp	0.11%	0.17%
Solar Industries India Limited	0.11%	0.19%
Adani Green Energy Limited	0.11%	0.17%
Berger Paints (I) Limited	0.11%	0.16%
Linde India Limited	0.11%	0.16%
General Insurance Corporation of India	0.11%	0.16%
HDB Financial Services Limited	0.11%	0.16%
Adani Energy Solutions Limited	0.11%	0.17%
Bank of Baroda	0.10%	0.17%
Wipro Limited	0.10%	0.17%
Punjab National Bank	0.10%	0.15%
LTM Limited	0.10%	0.15%
Abbott India Limited	0.10%	0.17%
Canara Bank	0.10%	0.16%
Patanjali Foods Limited	0.10%	0.15%
Jindal Steel Limited	0.10%	0.16%
United Spirits Limited	0.10%	0.49%
K.P.R. Mill Limited	0.10%	0.15%
REC Limited	0.09%	0.46%
Godrej Consumer Products Limited	0.09%	0.13%
GlaxoSmithKline Pharmaceuticals Limited	0.09%	0.14%
Bharat Dynamics Limited	0.09%	0.13%
Bosch Limited	0.09%	0.16%
Bharti Hexacom Limited	0.09%	0.13%
Rail Vikas Nigam Limited	0.09%	0.14%
GLOBAL HEALTH LIMITED	0.09%	0.15%
Cochin Shipyard Limited	0.09%	0.16%
Siemens Limited	0.08%	0.13%
CRISIL Limited	0.08%	0.13%
Premier Energies Limited	0.08%	0.16%
ABB India Limited	0.08%	0.14%
Indian Renewable Energy Development Agency Limited	0.08%	0.11%
Bajaj Housing Finance Limited	0.08%	0.11%
Muthoot Finance Limited	0.08%	0.11%
Lodha Developers Limited	0.08%	0.41%
Union Bank of India	0.08%	0.13%
Endurance Technologies Limited	0.08%	0.12%
L&T Technology Services Limited	0.07%	0.11%
Escorts Kubota Limited	0.07%	0.11%
Hyundai Motor India Limited	0.07%	0.11%
Neyveli Lignite Corporation Ltd.	0.07%	0.12%
Tata Investment Corporation Ltd.	0.07%	0.10%
United Breweries Limited	0.07%	0.10%
Zydus Lifesciences Limited	0.06%	0.11%
Housing & Urban Development Corporation Limited	0.06%	0.10%
Shree Cement Limited	0.06%	0.37%
Anthem Biosciences Limited	0.06%	0.11%
NTPC Green Energy Limited	0.06%	0.11%
Siemens Energy India Limited	0.06%	0.11%
Hindustan Zinc Limited	0.06%	0.11%
Ambuja Cements Limited	0.05%	0.09%
Hexaware Technologies Limited	0.05%	0.09%
Godfrey Phillips India Limited	0.05%	0.10%
Mazagon Dock Shipbuilders Limited	0.04%	0.06%
Tata Capital Ltd	0.04%	0.07%
Indian Railway Finance Corporation Limited	0.03%	0.07%
Godrej Industries Ltd	0.03%	0.06%

Overlap: for each holding both funds own, the smaller of its two weights, added up. 64.1% means 64.1% 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 2036

Security	% of fund
6.94% GOI 11-May-2036	21.67%
Zerodha Gold ETF	4.47%
Zerodha Silver ETF	4.42%
Apollo Tyres Limited	0.11%
3M India Limited	0.08%

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 2036	Zerodha Nifty LargeMidcap 250 Index
Equity	66.7%	99.6%
Debt	21.7%	0.0%
Cash and others	11.6%	0.4%

Market cap of stocks

Market cap	Zerodha Life Cycle Fund 2036	Zerodha Nifty LargeMidcap 250 Index
Large Cap	37.2%	52.0%
Mid Cap	28.2%	46.3%
Small Cap	1.3%	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 2036	Zerodha Nifty LargeMidcap 250 Index
Banks	13.9%	16.9%
Pharmaceuticals & Biotechnology	4.3%	6.7%
Finance	3.7%	6.5%
IT - Software	3.7%	5.6%
Retailing	2.4%	4.3%
Automobiles	2.6%	4.0%
Electrical Equipment	2.6%	3.7%

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

Zerodha Life Cycle Fund 2036 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 2036	Zerodha Nifty LargeMidcap 250 Index Fund
Total expense ratio (Direct)	1.02%	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 2036 vs Zerodha Nifty LargeMidcap 250 Index Fund: Frequently Asked Questions

What is the difference between Zerodha Life Cycle Fund 2036 and Zerodha Nifty LargeMidcap 250 Index Fund?

Zerodha Life Cycle Fund 2036 is a mutual fund, Zerodha Nifty LargeMidcap 250 Index Fund is an Index fund, run by Zerodha Mutual Fund. Their portfolios overlap 64.1%. Zerodha Life Cycle Fund 2036 charges 1.02% a year and Zerodha Nifty LargeMidcap 250 Index Fund 0.38%.

Which has the lower expense ratio, Zerodha Life Cycle Fund 2036 or Zerodha Nifty LargeMidcap 250 Index Fund?

Zerodha Nifty LargeMidcap 250 Index Fund charges less: 0.38% a year against 1.02%. These are the Direct plans' total expense ratios reported to AMFI.

How much do Zerodha Life Cycle Fund 2036 and Zerodha Nifty LargeMidcap 250 Index Fund overlap?

64.1%. They hold 241 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, RELIANCE. From each fund's latest monthly portfolio.

Which is riskier, Zerodha Life Cycle Fund 2036 or Zerodha Nifty LargeMidcap 250 Index Fund?

On SEBI's riskometer, Zerodha Life Cycle Fund 2036 is rated Very High and Zerodha Nifty LargeMidcap 250 Index Fund Very High. Over their common history, the standard deviation of daily returns was 8.88% and 14.89% a year.

Can I invest in both Zerodha Life Cycle Fund 2036 and Zerodha Nifty LargeMidcap 250 Index Fund?

Yes. 64.1% 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 2036 and Zerodha Nifty LargeMidcap 250 Index Fund?

Zerodha Life Cycle Fund 2036: 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.