Zerodha Overnight Fund
Zerodha Mutual Fund · Best Overnight Mutual Funds
This is the Direct plan of Zerodha Overnight Fund — bought from the fund house, with no distributor commission in its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.
NAV history
Scorecard
★★☆☆☆2/5 vs 41 of 46 Overnight Fund peers1Y- Performance 60%
- Risk 15%
- Cost 10%
- Downside 15%
How this is computed
Each verdict is computed from this fund's own metrics against its sub-category — the number behind it is shown, not a black-box rating. The stars weight the same ground 60/15/10/15 (performance/risk/cost/downside) across every fund in the peer group. Ranked within Overnight Fund (same plan and option). Based on a 1-year record — this fund is too young for a 3-year CAGR, so its performance is ranked on 1Y against the same peers. 41 of the 46 Overnight Funds in this cohort carry the full record the stars need, so they are the ones ranked against.
Not enough Overnight Fund peers to rank yet
Volatility 0.1% vs 0.1% category avg
0.1% expense vs 0.1% category avg
Not enough history for a rolling 3Y view
Strengths & concerns
Generated from this fund's own numbers against its sub-category — each point names the figure behind it.
Strengths
- Less volatile than its Overnight Fund peers (0.1% vs 0.1%)
Concerns
- High expense ratio (0.13%) vs the Overnight Fund average of 0.11%
Key Metrics
Scheme Info
DefinitionsPeriod returns (<1Y, absolute — not annualized)
DefinitionsAnnualized returns (≥1Y — CAGR)
DefinitionsAdvanced metrics — risk
Risk (trailing 3Y)
DefinitionsBenchmark ratios
Not shown for Overnight Fund — a debt, arbitrage or cash-like fund isn't measured against an equity index, so alpha/beta vs one would be noise rather than signal.
Fund vs category average (Overnight Fund)
| Period | Fund | Category avg. | Diff |
|---|---|---|---|
| 1M abs | +0.46% | +0.43% | +0.03% |
| 3M abs | +1.28% | +1.20% | +0.08% |
| 6M abs | +2.50% | +2.37% | +0.13% |
| 1Y CAGR | +5.18% | +5.02% | +0.16% |
| 3Y CAGR | — | +5.76% | — |
| 5Y CAGR | — | +5.67% | — |
Category average across peers in Overnight Fund (45 of 46 carry a figure for at least one period), same plan and option, excluding this fund. Under-1-year figures are absolute; 1Y and beyond are annualised (CAGR).
Not sure what a figure means? The glossary explains every metric, and the methodology shows the formulas.
Category rank
Vs 46 peers in Overnight Fund
Rolling returns
Return for every possible 1Y holding period, not just today’s
5 overlapping 1Y windows, sampled monthly across the fund’s history.
Backtest this fund
What a SIP or one-time investment would have grown to over this fund’s real NAV history.
12 monthly installments of ₹10,000 into Zerodha Overnight Fund, valued at the latest NAV. XIRR annualizes for each installment’s timing.
Calendar-year returns
What the fund actually returned in each year, not the smoothed average.
| Year | Fund | |
|---|---|---|
| 2026part | +3.21% | |
| 2025part | +3.92% |
January–December, from this fund's NAV history. Absolute return, not annualised. “part” marks a year the fund didn't run end to end — its first year, the current year so far, or one it stopped reporting in.
Taxation
Taxed as debtThis is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — every rupee of gain is added to your income and taxed at your income-tax slab rate, whatever the holding period.
Your income-tax slab — no LTCG or indexation benefit
Pick your slab to see the rate that applies to you.
Applies to capital gains on redemption. Excludes IDCW/dividend tax, STT, surcharge and cess, and pre-2018 equity grandfathering. For research only — consult a tax advisor before filing.
Fund size over time
Quarterly average AUM · AMFIAt or near its largest, ₹94.18Cr in January - March 2026. Size matters most where the mandate is narrow — a large small-cap or a very large flexi-cap book is harder to move without moving the price.
Zerodha in the news
Headlines about the fund house, not this scheme in particular — highlights only; tap through to read the full story at the source.
Zerodha to bring mutual funds to Kite soon: What investors need to know about the upcoming feature
Business Today · 1d ago
Zerodha to offer mutual funds on Kite offering all equity investments in a single app
Moneycontrol.com · 1d ago
Zerodha to offer mutual funds on Kite amid popular demand for all equity investments in a single app
Moneycontrol.com · 1d ago
Zerodha Mutual Fund files offer document for Nifty Next 100 ETF
Investment Guru · 2d ago
Zerodha Fund House launches new arbitrage scheme: Minimum investment, strategy and other details
CNBC TV18 · 8d ago
NFO Alert: Zerodha Fund House launches arbitrage fund
The Economic Times · 9d ago
Zerodha Arbitrage Fund Direct-Growth (₹ 10.00) - NAV, Reviews & asset allocation
The Economic Times · 10d ago
Zerodha Arbitrage Fund - New fund offers: 9 mutual funds and 2 SIFs will open for subscription this week: Check details
The Economic Times · 12d ago
Returns and risk are computed from NAV history and may differ slightly from other portals due to methodology (rolling vs point-to-point, dividend treatment). For research only — not investment advice.
About Overnight funds
Overnight funds hold securities maturing the very next day, making them the lowest-risk debt category. They're a place to park cash for a few days with almost no interest-rate risk.
Frequently asked questions
What is the NAV of Zerodha Overnight Fund?
As of 20 Aug 2026, the NAV of Zerodha Overnight Fund is ₹10.75 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.
What returns has Zerodha Overnight Fund delivered?
Zerodha Overnight Fund has returned +5.18% over 1 year and +5.27% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.
What is the expense ratio of Zerodha Overnight Fund?
Zerodha Overnight Fund charges an expense ratio of 0.13% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.
What are the top holdings of Zerodha Overnight Fund?
Its largest holdings are GOVERNMENT OF INDIA 36337 364 DAYS TBILL 20AG26 FV RS 100 (0.9%). Holdings are disclosed monthly and change over time.
How risky is Zerodha Overnight Fund?
It is rated low on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 0.1% and its worst peak-to-trough fall in our sample was 0.0%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.
What is the benchmark of Zerodha Overnight Fund?
Zerodha Overnight Fund is benchmarked against the NIFTY 1D Rate Index. Its alpha and beta on this page are measured against that index.
Who manages Zerodha Overnight Fund?
Zerodha Overnight Fund is managed by Kedarnath Mirajkar at Zerodha.
How is Zerodha Overnight Fund taxed?
Zerodha Overnight Fund is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — capital gains are added to your income and taxed at your income-tax slab rate regardless of how long you held the units.