Zerodha Overnight Fund is an Overnight fund run by Zerodha Mutual Fund. On 30-09-2026, it managed ₹99 Cr of investors' money. In the year to 30-10-2026, it returned 5.1%. Its benchmark, Nifty 1D Rate Index TRI, returned 5.3% over the same year.
NAV on 30-10-2026: Direct Plan Growth ₹10.85 (up 0.02% that day).
Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.
| Period | 1M | 3M | 6M | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|---|---|---|
| This fund (Direct) | +0.44% | +1.27% | +2.55% | +5.13% | -- | -- | -- |
| Nifty 1D Rate Index TRI | +0.45% | +1.30% | +2.61% | +5.25% | +6.02% | +5.80% | +5.40% |
| Overnight average | +0.45% | +1.28% | +2.59% | +5.22% | -- | -- | -- |
| Best in Overnight | +0.47% | +1.33% | +2.79% | +5.48% | -- | -- | -- |
| Worst in Overnight | +0.43% | +1.21% | +2.46% | +4.96% | -- | -- | -- |
| Rank in Overnight | 31/40 | 30/38 | 28/36 | 29/36 | -- | -- | -- |
Category rows compare the Direct plans of 40 Overnight funds. Rank 1 is the highest return.
| Year | Direct | Nifty 1D Rate Index TRI |
|---|---|---|
| 2026to date | +4.22% | +4.31% |
The return of every holding period in the fund's history, not only the one that ends today
Rolling returns
Each point is the yearly return of one 1-year holding period, plotted on the day it ended. There are 200 periods, one for each trading day from 09-04-2026 to 30-10-2026.
Zerodha Overnight Fund (Direct)
Nifty 1D Rate Index TRI
Every holding period at a glance
| Period | Periods | Median | Lowest | Highest | With a loss | Benchmark median | Beat benchmark |
|---|---|---|---|---|---|---|---|
| 1 year | 200 | 5.2% | 5.1% | 5.3% | 0% | 5.3% | 0% |
Lumpsum: the yearly rate (CAGR) from the NAV on a period's first day to the NAV on its last. SIP: the XIRR of the monthly instalments and their value on the last day. "With a loss" counts the periods that ended below the money put in. "Beat benchmark" counts the periods in which the fund did better than Nifty 1D Rate Index TRI over the same days. Past returns do not promise future returns.
How much it swings, and the falls an investor had to sit through
Risk and return
| Measure | Zerodha Overnight Fund (Direct)This fund | Nifty 1D Rate Index TRI |
|---|---|---|
| Return (CAGR) | +5.13% | +5.25% |
| Standard deviation | 0.05% | 0.20% |
| Sharpe ratio | -2.17 | 0.00 |
| Sortino ratio | -5.62 | 0.00 |
| Maximum drawdown | 0.0% | 0.0% |
| Beta | 0.99 | 1.00 |
| Alpha | −0.12% | 0.00% |
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: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.
| Measure | Zerodha Overnight Fund (Direct)This fund | Nifty 1D Rate Index TRI |
|---|---|---|
| Return (CAGR) | +5.25% | +5.38% |
| Standard deviation | 0.09% | 0.20% |
| Sharpe ratio | -1.36 | 0.00 |
| Sortino ratio | -3.64 | 0.00 |
| Maximum drawdown | 0.0% | 0.0% |
| Beta | 0.99 | 1.00 |
| Alpha | −0.12% | 0.00% |
From daily NAVs, 09-04-2025 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: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.
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.
Zerodha Overnight Fund (Direct)
Nifty 1D Rate Index TRI
| Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today | |
|---|---|---|---|---|---|---|
| Zerodha Overnight Fund (Direct) | 0.0% | -- | -- | -- | -- | 0.0% |
| Nifty 1D Rate Index TRI | 0.0% | -- | -- | -- | -- | 0.0% |
From the Direct plan's daily NAV since 09-04-2025, adjusted for unit splits, and Nifty 1D Rate Index TRI over the same days. "Time to climb back" runs from the bottom to the first day back at the old high.
The five Overnight funds with the best three year return, and this fund. Direct plans.
| Fund name | Rank | AUM (Cr) | Exp. ratio | 1Y return | 3Y return | 3Y alpha | 3Y beta | 3Y Sharpe | 3Y Sortino | |
|---|---|---|---|---|---|---|---|---|---|---|
| Bank of India Overnight Fund | 1/33 | 88 | 0.09% | +5.48% | +6.16% | -- | -- | 1.92 | 5.24 | Compare |
| Axis Overnight Fund | 2/33 | 10,855 | 0.09% | +5.29% | +6.05% | +0.03% | 1.01 | 0.67 | 1.07 | Compare |
| Bajaj Finserv Overnight Fund | 2/33 | 792 | 0.11% | +5.34% | +6.05% | -- | -- | 0.58 | 0.93 | Compare |
| Tata Overnight Fund | 2/33 | 5,556 | 0.09% | +5.30% | +6.05% | -- | -- | 0.64 | 1.02 | Compare |
| Nippon India Overnight Fund | 5/33 | 6,791 | 0.10% | +5.27% | +6.04% | -- | -- | 0.33 | 0.52 | Compare |
| Zerodha Overnight Fund | 29/36 | 99 | 0.13% | +5.13% | -- | -- | -- | -- | -- |
AUM is each fund's size at the end of its last reported month, from its own portfolio file. We calculate the risk ratios from daily NAVs over the last three years. The risk-free return is what NSE's overnight rate index earned over the same years. Alpha and beta compare each fund with its own benchmark's TRI. "--" means we have no figure: for alpha and beta, no daily series for that benchmark.
What each plan charges a year, in force from 01-09-2026
| Plan | Base expense ratio | Brokerage | Transaction costs | Levies and GST | Total expense ratio | Overnight median | Cost rank (1 = cheapest) |
|---|---|---|---|---|---|---|---|
| Direct | 0.08% | 0.00% | 0.04% | 0.01% | 0.13% | 0.11% | 29/40 |
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, the cost of executing trades, and statutory levies with GST. From AMFI's expense ratio file. Cost rank: where this plan comes when the Overnight funds' plans of the same type are sorted from the lowest total expense ratio to the highest.
What a one-time or monthly investment in this fund would be worth today, from its own NAV history
Growth of an investment
₹10,000 on the first trading day of every month, from 09-04-2025 to 30-10-2026: 19 instalments, ₹1,90,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Direct planZerodha Overnight Fund (Direct) | ₹1,90,000 | ₹1,98,155 | ₹8,155 | 5.2% |
| Nifty 1D Rate Index TRI | ₹1,90,000 | ₹1,98,332 | ₹8,332 | 5.3% |
| Category averageCategory average, 40 Overnight funds | ₹2,00,000 | ₹2,08,313 | ₹8,313 | 5.2% |
Direct planZerodha Overnight Fund (Direct)
Nifty 1D Rate Index TRI
Category averageCategory average, 40 Overnight funds
Amount invested
From each plan's published NAV (Growth option), the benchmark's TRI and the category average, 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.
Asset allocation as on 30-09-2026
98.0%Cash and others
| Asset | Fund | Category |
|---|---|---|
| Cash and others | 98.0% | 89.1% |
| Debt | 2.0% | 10.9% |
As on 30-09-2026 · 2 holdings · from the fund house's monthly portfolio
| Holdings | Rating | Weight% |
|---|---|---|
| 91 Days Treasury Bill 01-Oct-2026 · Government security | SOVERIGN | 1.01% |
| 91 Days Treasury Bill 22-Oct-2026 · Government security | SOVERIGN | 1.01% |
Fund facts from the scheme summary document, as on 16-10-2026
Rules in force from 23-07-2024 (Finance Act 2024). Tax depends on your own income; this is general information, not tax advice.
Zerodha Overnight Fund is a mutual fund from Zerodha Mutual Fund. Its category is Overnight. It was launched on 04-04-2025. Its benchmark is Nifty 1D Rate Index. At the end of September 2026 it held 2 securities.
Kedarnath Mirajkar
Fund manager of Zerodha Overnight Fund, since 19-03-2025
See all funds of Zerodha Mutual Fund
AUM moves with money invested or taken out, and with the value of what the fund holds.
Returns, risk, costs and the stocks they share, side by side
The Direct plan NAV is ₹10.8536, as on 30-10-2026.
The Direct plan returned +5.13% in 1 year. These figures are as on 30-10-2026.
The Direct plan charges 0.13% a year. This is the figure the fund house reported to AMFI, in force from 01-09-2026.
Zerodha Overnight Fund managed ₹98.78 Cr on 30-09-2026, as its fund house reported in its monthly portfolio.
At the end of September 2026 the largest holdings were 91 Days Treasury Bill 01-Oct-2026 (1.01%), 91 Days Treasury Bill 22-Oct-2026 (1.01%). The fund held 2 securities in all.
Through Zerodha Mutual Fund's website or app, a mutual fund distributor, or an investment platform. Choose the Direct plan to pay no distributor commission, or the Regular plan to invest through a distributor. The first investment is at least ₹100. You can invest once or through a monthly SIP.
Kedarnath Mirajkar (since 19-03-2025).
Nil
Sources: NAV and expense ratio from AMFI. Holdings from the fund house's monthly portfolio statement. Fund facts from its scheme summary document, as on 16-10-2026.
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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