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Zerodha Nifty Smallcap 100 ETF

Q: What is the NAV of Zerodha Nifty Smallcap 100 ETF?

As of 05 Oct 2026, the NAV of Zerodha Nifty Smallcap 100 ETF is ₹10.86 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has Zerodha Nifty Smallcap 100 ETF delivered?

Zerodha Nifty Smallcap 100 ETF has returned +7.81% over 1 year and +6.74% 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.

Q: What is the expense ratio of Zerodha Nifty Smallcap 100 ETF?

Zerodha Nifty Smallcap 100 ETF charges an expense ratio of 0.35% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

Q: What are the top holdings of Zerodha Nifty Smallcap 100 ETF?

Zerodha Nifty Smallcap 100 ETF's largest holdings are Sona BLW Precision Forgings Limited (3.0%), Ather Energy Limited (2.7%), Karur Vysya Bank Limited (2.7%), Navin Fluorine International Limited (2.6%) and WELSPUN CORP LTD (2.6%). Holdings are disclosed monthly and change over time.

Q: How risky is Zerodha Nifty Smallcap 100 ETF?

Zerodha Nifty Smallcap 100 ETF is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 18.0% and its worst peak-to-trough fall in our sample was -18.1%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Q: What is the benchmark of Zerodha Nifty Smallcap 100 ETF?

Zerodha Nifty Smallcap 100 ETF is benchmarked against the Nifty Smallcap 100 Index. Its alpha and beta on this page are measured against that index.

Q: Who manages Zerodha Nifty Smallcap 100 ETF?

Zerodha Nifty Smallcap 100 ETF is managed by Kedarnath Mirajkar at Zerodha.

Q: How is Zerodha Nifty Smallcap 100 ETF taxed?

Zerodha Nifty Smallcap 100 ETF is an equity-oriented fund, so its capital gains get concessional rates: short-term gains (units held under 1 year) are taxed at 20%, and long-term gains (held 1 year or more) at 12.5% above a ₹1.25 lakh per-year exemption. These rates apply on redemption and don't add to your income-tax slab.

Zerodha Mutual Fund

NAV

₹10.86

+0.47% 1D

as of 05 Oct 2026

This is the Direct plan of Zerodha Nifty Smallcap 100 ETF — 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.

Compare SIP calculator

Performance

+7.56%absolute

52-week rangePrev NAV ₹10.81

Latest ₹10.86

Low ₹8.5480th percentile of its 52-week rangeHigh ₹11.45

Scorecard

Not rated

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. Not rated — too few comparable ETF funds (same plan and option) to rank against yet.

Performance—

Not enough Other ETFs peers to rank yet

RiskHigh

Volatility 18.0% vs 15.9% category avg

CostAverage

0.3% expense vs 0.3% category avg

Consistency—

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

Ahead of the Other ETFs average on 3M/6M/1Y — 1Y by 6.44pp
Ranks #4 of 33 on 1-year return in its Other ETFs cohort

Concerns

More volatile than its Other ETFs peers (18.0% vs 15.9%)

Key Metrics

Annual fee charged by the fund, already deducted from NAV

0.35%

Category 0.33%▲0.02%

Portfolio-weighted harmonic mean P/E across the fund's equity holdings

26.17

Category 20.82▲5.35

Excess return per unit of total volatility (rf = 6.5%)

—

Category 0.27

Scheme Info

Definitions

Plan

Direct · Growth

Period before units can be redeemed — 3 years for ELSS, none for most open-ended funds

—

Exit Load

None

Statutory levy on every mutual-fund purchase since 1 Jul 2020 (SEBI / Govt of India) — the same for every scheme

0.005%

SIP Inv.

Not allowed

Smallest recurring SIP instalment the scheme accepts

—

Smallest one-time (lumpsum) investment the scheme accepts

—

Nifty Smallcap 100 Index

Start of our NAV history for this plan. Direct plans begin 1 Jan 2013, so this is the plan's inception — not necessarily the scheme's original launch date.

12 Sep 2025

Period returns (<1Y, absolute — not annualized)

Definitions

Absolute return over the last 1 month (not annualized)

-4.98%

Absolute return over the last 3 months (not annualized)

-0.14%

Absolute return over the last 6 months (not annualized)

+22.60%

Absolute return since 1 Jan of this year (not annualized)

+8.66%

Annualized returns (≥1Y — CAGR)

Definitions

1-year point-to-point return, annualized (CAGR)

+7.81%

3-year annualized return (CAGR)

—

5-year annualized return (CAGR)

—

10-year annualized return (CAGR)

—

Annualized return (CAGR) since the first NAV we hold for this plan — the Inception date under Key metrics. AMFI's history starts in April 2006, so an older scheme is measured from there.

+6.74%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

18.01%

Excess return per unit of total volatility (rf = 6.5%)

—

Excess return per unit of downside deviation — upside swings aren't penalized (rf = 6.5%)

—

Largest peak-to-trough decline over full history

-18.07%

Benchmark ratios (vs Nifty Smallcap 250 TRI · 36 monthly returns)

Definitions

Jensen's alpha (annualized): return above what CAPM predicts for the fund's beta vs Nifty Smallcap 250 TRI

—

Sensitivity to Nifty Smallcap 250 TRI moves; 1 = moves with the index

—

How much of the fund's movement Nifty Smallcap 250 TRI explains

—

Excess return per unit of beta (market risk)

—

Active return over the benchmark per unit of tracking error

—

Annualized std dev of fund-minus-benchmark returns

—

Fund's share of benchmark gains in up months (100 = matches index)

—

Fund's share of benchmark losses in down months (lower is better)

—

Computed vs the Nifty Smallcap 250 TRI over the last 36 complete months — the closest match to this fund's mandate. TRI means dividends reinvested, as they are in the fund's own NAV; ₹ means a US index converted at each day's USD/INR, since the fund is priced in rupees. Needs ~3 years of history; a low R² means the fund tracks the index loosely.

Fund vs category average (Other ETFs)

Period	Fund	Category avg.	Diff
1M abs	-4.98%	-4.51%	-0.47%
3M abs	-0.14%	-3.68%	+3.54%
6M abs	+22.60%	+2.49%	+20.11%
1Y CAGR	+7.81%	+1.37%	+6.44%
3Y CAGR	—	+12.39%	—
5Y CAGR	—	+9.19%	—

Category average across peers in Other ETFs (up to 35 funds with data), 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 35 peers in Other ETFs

1Y return

+7.81%

Beats 90.6% · rank #4

3Y return

—

5Y return

—

Sharpe

—

Sortino

—

Backtest this fund

What a SIP or one-time investment would have grown to over this fund’s real NAV history.

Monthly investment (₹)

Period

Invested

₹1.20L

Current value

₹1.28L

Absolute

+6.40%

XIRR

+14.28%

Value vs. invested

ValueInvested

12 monthly installments of ₹10,000 into Zerodha Nifty Smallcap 100 ETF, 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	Nifty Smallcap 250 TRI	Diff
2026part	+8.66%	+6.37%	+2.29%
2025part	-1.37%	—	—

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; those years show no benchmark comparison.

Recent changes

Expense-ratio, fund-manager, exit-load and minimum-investment changes we've picked up in the last 30 days.

Expense ratio up: 0.23% → 0.35%
02 Oct 2026

History points

260

Expense ratio

0.35%

AUM

₹76.67Cr

Portfolio turnover

89%

Exit load

Nil

P/E ratio

26.2

P/B ratio

4.4

Avg market cap

₹31,004Cr

P/E & P/B are portfolio-weighted harmonic means across 79 of 100 equity holdings (77% of the portfolio); loss-making companies are excluded.

Taxation

Taxed as equity

This is an equity-oriented fund (≥65% in Indian equities), so gains get the concessional capital-gains rates below — they do not add to your income-tax slab.

Short-term (STCG)

20%

Held under 1 year

Flat, on the whole gain

Long-term (LTCG)

12.5%

Held 1 year or more

On gains above ₹1.25 L per financial year

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.

Peer comparison · Other ETFs

Compare all


Zerodha Nifty Smallcap 100 ETFThis fund Zerodha · Direct · Growth	—	+7.81%	—	—	26.17	0.35%	₹76.67Cr
Nippon India Silver ETF Nippon India · Direct · Growth	—	+51.91%	+47.19%	—	—	0.58%	₹31,737Cr
Nippon India Nifty Pharma ETF Nippon India · Direct · Growth	—	+20.37%	+20.73%	+12.69%	39.44	0.23%	₹1,458Cr
Nippon India ETF Hang Seng BeES Nippon India · Direct · Growth	—	-2.73%	+20.21%	+7.74%	—	0.96%	₹1,058Cr
CPSE ETF Nippon India · Direct · Growth	—	-3.68%	+20.14%	+23.23%	12.08	0.08%	₹21,191Cr
Nippon India Nifty Auto ETF Nippon India · Direct · Growth	—	-4.23%	+17.62%	—	26.67	0.23%	₹421.46Cr

Market-cap allocation · AMFI bands, Jul 2026

Equity holdings by company size — 98% of the equity sleeve priced.

Large cap0.0%
Mid cap29.2%
Small cap70.8%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity99.86%
Cash & Equivalents0.14%

which companies this fund invests in

As on 31 Aug 2026 · AMC disclosure

Sona BLW Precision Forgings Limited

3.01%

Ather Energy Limited

2.72%

Karur Vysya Bank Limited

2.71%

Navin Fluorine International Limited

2.63%

WELSPUN CORP LTD

2.58%

Piramal Finance Limited

2.28%

Delhivery Limited

2.11%

Central Depository Services (India) Limited

2.06%

RBL Bank Limited

1.94%

Gland Pharma Limited

1.90%

Holds the same stocks as (by portfolio overlap, not by category)

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
Aditya Birla Sun Life Nifty Smallcap 50 Index Fund Aditya Birla Sun Life · Index Funds	68.1%	★★★★☆	0.57%	+17.31%
Axis Nifty Smallcap 50 Index Fund Axis · Index Funds	68.1%	★★★★☆	0.45%	+17.16%
Kotak Nifty Smallcap 50 Index Fund Kotak Mahindra · Index Funds	68.1%	★★★★☆	0.34%	+17.19%
HDFC Nifty Smallcap 250 Index Fund HDFC · Index Funds	54.9%	★★★☆☆	0.33%	+12.90%
ICICI Prudential Nifty Smallcap 250 Index Fund ICICI Prudential · Index Funds	54.9%	★★★★☆	0.44%	+12.88%
Edelweiss Nifty Smallcap 250 Index Fund Edelweiss · Index Funds	54.9%	★★★★☆	0.25%	+13.30%
Bandhan Nifty Smallcap 250 Index Fund Bandhan · Index Funds	54.9%	★★★☆☆	0.38%	—
Groww Nifty Smallcap 250 Index Fund Groww · Index Funds	54.9%	★★★☆☆	0.64%	—

Overlap is the share of each fund's equity book invested in the same stocks, by weight, across the Direct-plan universe — so a fund that is only part equity is labelled as such. ! marks a pair holding more in common than nine pairs in ten of its type, where that type has a measured distribution.

🚩Holdings under NSE surveillance (ASM)

2 holdings — 3.08% of the portfolio — sit in stocks NSE currently lists under its Additional Surveillance Measure. ASM is an exchange response to unusual price or volume activity (higher margins, and trade-for-trade settlement at stage II), not a view on the company or on this fund.

Welspun Corp LimitedLong-term · Stage I2.58%
Whirlpool of India LimitedShort-term · Stage I0.50%

Source: NSE ASM list, matched to holdings by company name — a holding whose name differs from NSE's spelling may not be matched. BSE's separate list is not covered.

Worst falls, and the wait to get back

How far this fund has dropped from a high, and how long it took to reclaim it.

-18.1%03 Nov 2025 → 23 Mar 2026
Fell over 5 months, back to the old high on 06 May 2026 — 44 days under water after the low.
-5.7%08 May 2026 → 18 May 2026
Fell over 10 days, back to the old high on 19 Jun 2026 — 32 days under water after the low.
-5.6%08 Sep 2026 → 01 Oct 2026
Still below that high — 23 days down, and no recovery yet.

Measured on this fund’s own NAV history, peak to trough to the day it regained the peak. Falls shallower than 5% are left out. A recovery date is when the NAV got back, not when any particular investor did — that depends on when they bought.

Fund size over time

Quarterly average AUM · AMFI

₹76.67Cr

April - June 2026

+106%

since January - March 2026

At or near its largest, ₹76.67Cr in April - June 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.

AMC Profile

Zerodha Mutual Fund, which operates as Zerodha Fund House, is a joint venture between the broker Zerodha and smallcase. It launched its first schemes in 2023 and runs index funds and ETFs only — no active equity schemes.

Launched

19 Dec 2021

Total AUM

₹15,373Cr+11.5% QoQ

Avg AUM · April - June 2026

Website

zerodhafundhouse.com

Fund Managers

Fund manager, benchmark and dealing terms from this scheme's SEBI-filed Scheme Information Document on AMFI. Each manager's qualifications and role are reconciled across every filing this fund house makes for them, including its Statement of Additional Information. Total AUM via AMFI.

Explore from here

Fund managers

Kedarnath Mirajkar

Top holdings

Sona BLW Precision Forgings Limited Ather Energy Limited Karur Vysya Bank Limited Navin Fluorine International Limited WELSPUN CORP LTD Piramal Finance Limited Delhivery Limited Central Depository Services (India) Limited RBL Bank Limited Gland Pharma Limited City Union Bank Limited PNB Housing Finance Limited

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.

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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 Index funds & ETFs

Index funds and ETFs must keep at least 95% in the securities of the index they track, rather than trying to beat it. They charge far lower fees than active funds, and their return is the index's return minus that small cost and any tracking difference.

Frequently asked questions

What is the NAV of Zerodha Nifty Smallcap 100 ETF?

As of 05 Oct 2026, the NAV of Zerodha Nifty Smallcap 100 ETF is ₹10.86 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has Zerodha Nifty Smallcap 100 ETF delivered?

Zerodha Nifty Smallcap 100 ETF has returned +7.81% over 1 year and +6.74% 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 Nifty Smallcap 100 ETF?

Zerodha Nifty Smallcap 100 ETF charges an expense ratio of 0.35% 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 Nifty Smallcap 100 ETF?

Zerodha Nifty Smallcap 100 ETF's largest holdings are Sona BLW Precision Forgings Limited (3.0%), Ather Energy Limited (2.7%), Karur Vysya Bank Limited (2.7%), Navin Fluorine International Limited (2.6%) and WELSPUN CORP LTD (2.6%). Holdings are disclosed monthly and change over time.

How risky is Zerodha Nifty Smallcap 100 ETF?

Zerodha Nifty Smallcap 100 ETF is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 18.0% and its worst peak-to-trough fall in our sample was -18.1%. 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 Nifty Smallcap 100 ETF?

Zerodha Nifty Smallcap 100 ETF is benchmarked against the Nifty Smallcap 100 Index. Its alpha and beta on this page are measured against that index.

Who manages Zerodha Nifty Smallcap 100 ETF?

Zerodha Nifty Smallcap 100 ETF is managed by Kedarnath Mirajkar at Zerodha.

How is Zerodha Nifty Smallcap 100 ETF taxed?

Zerodha Nifty Smallcap 100 ETF is an equity-oriented fund, so its capital gains get concessional rates: short-term gains (units held under 1 year) are taxed at 20%, and long-term gains (held 1 year or more) at 12.5% above a ₹1.25 lakh per-year exemption. These rates apply on redemption and don't add to your income-tax slab.