Zerodha Nifty MidSmallcap400 50:50 Index Fund
This is the Direct plan of Zerodha Nifty MidSmallcap400 50:50 Index 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.
Performance
Scorecard
Not ratedHow 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 — this fund has no full year of NAV history yet. A rating needs at least a 1-year return to rank its performance against peers.
Not enough Index Funds peers to rank yet
Volatility 13.8% vs 12.3% category avg
0.9% expense vs 0.5% 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
No standout strengths identified.
Concerns
- More volatile than its Index Funds peers (13.8% vs 12.3%)
- High expense ratio (0.86%) vs the Index Funds average of 0.50%
Key Metrics
Scheme Info
DefinitionsPeriod returns (<1Y, absolute — not annualized)
DefinitionsAnnualized returns (≥1Y — CAGR)
DefinitionsAdvanced metrics — risk and benchmark ratios
Fund vs category average (Index Funds)
| Period | Fund | Category avg. | Diff |
|---|---|---|---|
| 1M abs | -5.72% | -4.53% | -1.19% |
| 3M abs | -3.23% | -2.94% | -0.29% |
| 6M abs | +7.05% | +5.49% | +1.56% |
| 1Y CAGR | — | -0.09% | — |
| 3Y CAGR | — | +8.96% | — |
| 5Y CAGR | — | +8.49% | — |
Category average across peers in Index Funds (373 of 381 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.
Backtest this fund
What a SIP or one-time investment would have grown to over this fund’s real NAV history.
5 monthly installments of ₹10,000 into Zerodha Nifty MidSmallcap400 50:50 Index Fund, valued at the latest NAV. XIRR annualizes for each installment’s timing.
Taxation
Taxed as equityThis 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.
Flat, on the whole gain
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.
Asset allocation
As on 31 Aug 2026 · AMC disclosure- Equity101.68%
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.
Fund Managers
KMKedarnath MirajkarStart date not disclosed
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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
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.
Mutual fund NFOs: 2 new funds will open for subscription this week. Check dates and key details
The Economic Times · 15d ago
Mutual fund NFOs: 12 new funds are open for subscription now. Check details
The Economic Times · 04 Sep 2026
Zerodha Fund House Launches Life Cycle Fund 2031
Passionate In Marketing · 28 Aug 2026
Zerodha Fund House Nearly Triples Assets as FY26 Loss Narrows
CXO Digitalpulse · 27 Aug 2026
Mutual fund NFOs: 12 funds open for subscription now. Check key details
The Economic Times · 27 Aug 2026
Zerodha Life Cycle Fund 2031 Direct-Growth (₹ 9.81) - NAV, Reviews & asset allocation
The Economic Times · 26 Aug 2026
Zerodha Fund House FY26: Revenue Up 79% YoY To ₹17 Cr, Loss Narrows
Inc42 · 26 Aug 2026
Zerodha Fund House Revenue Rises 79% Losses Narrow 38%
BW Disrupt · 26 Aug 2026
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.
From the blog
Frequently asked questions
What is the NAV of Zerodha Nifty MidSmallcap400 50:50 Index Fund?
As of 01 Oct 2026, the NAV of Zerodha Nifty MidSmallcap400 50:50 Index Fund is ₹10.81 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.
What returns has Zerodha Nifty MidSmallcap400 50:50 Index Fund delivered?
Zerodha Nifty MidSmallcap400 50:50 Index Fund has returned +7.05% 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 MidSmallcap400 50:50 Index Fund?
Zerodha Nifty MidSmallcap400 50:50 Index Fund charges an expense ratio of 0.86% 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 MidSmallcap400 50:50 Index Fund?
Zerodha Nifty MidSmallcap400 50:50 Index Fund's largest holdings are BSE Ltd (1.6%), The Federal Bank Limited (1.1%), Multi Commodity Exchange of India Limited (1.1%), Laurus Labs Limited (0.9%) and One 97 Communications Limited (0.9%). Holdings are disclosed monthly and change over time.
How risky is Zerodha Nifty MidSmallcap400 50:50 Index Fund?
Zerodha Nifty MidSmallcap400 50:50 Index Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 13.8% and its worst peak-to-trough fall in our sample was -6.6%. 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 MidSmallcap400 50:50 Index Fund?
Zerodha Nifty MidSmallcap400 50:50 Index Fund is benchmarked against the Nifty MidSmallcap400 50:50 Index - TRI. Its alpha and beta on this page are measured against that index.
Who manages Zerodha Nifty MidSmallcap400 50:50 Index Fund?
Zerodha Nifty MidSmallcap400 50:50 Index Fund is managed by Kedarnath Mirajkar at Zerodha.
How is Zerodha Nifty MidSmallcap400 50:50 Index Fund taxed?
Zerodha Nifty MidSmallcap400 50:50 Index Fund 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.