October 17, 2025
RA Jainee
Zerodha BSE SENSEX Index Fund Direct-Growth
Zerodha BSE SENSEX Index Fund Direct-Growth snapshot
| NFO opens on | 20 October 2025 |
| NFO Closes on | 03 November 2025 |
| Min. Investment | Rs. 100 |
| Plans | Growth |
| Sahifund Verdict | This NFO may suit investors with a high risk appetite and 5+ year horizon, who are comfortable with all-cap, thematic equity exposure. Conservative investors or those seeking proven performance may be better served with established Flexicap funds. |
⏱️ Last Update: 17 October 2025, 10.00 AM
Table of Contents:
1. NFO Open date, Close date
2. NFO Investment Strategy
3. Basic Details NFO
4. Benchmark Index NFO
5. Fund Manager | Performance Review of Fund Manager
6. Should You Invest in this NFO?
7. Invest Online
What is the Zerodha BSE SENSEX Index Fund Direct-Growth Open Date, Close Date?
NFO opens on October 20, 2025
NFO will close on November 03, 2025
Investment Strategy for this NFO?
The Schemes seeks to generate Passive investment in equity and equity related securities replicating the composition of the BSE SENSEX Index, subject to tracking errors.
Basic Details
| Fund House | Zerodha Mutual Fund |
| Issue Open | 20 October 2025 |
| Issue Close | 03 November 2025 |
| Type | Open-ended |
| Category | Equity: Large Cap |
| Min. Investment(Rs) | 100 |
| Plans | Growth |
| Lock-in Period | NA |
| Exit Load | 0 |
| Riskometer | Very High |
| Benchmark | BSE Sensex TRI |
About Benchmark Index for this NFO?
The BSE SENSEX is India’s most tracked bellwether index. It is designed to measure the performance of the 30 largest, most liquid and financially sound
companies across key sectors of the Indian economy that are listed at BSE Ltd. It was launched on 1st January 1986.
Methodology:
1. • The index is derived from the constituents of the BSE 100. The inclusion of DVRs in the index will result in more than 30 stocks in the index. However, the number of companies in the index remains fixed at 30.
2. • Stocks must have a listing history of at least six months at BSE and must have a derivative contract.
3. • The stock must have traded on every trading day at BSE during the six-month reference period.
For complete details please view the Methodology document at
https://www.bseindices.com/Downloads/BSE_Indices_Methodology.pdf
Quick Facts
| Launch Date | 1st January 1986 |
| First Vlaue Date | 3rd April 1979 |
| Base Value | 100 |
| Number of Constituents | 30 |
| Reconstitution Frequecy | Semiannually in June and December |
| Weighting Method | Float -adjusted market cap weighted |
| Index Universe | BSE 100 |
| Calculation Currencies | INR, USD |
Fund Managers of Zerodha BSE SENSEX Index Fund Direct-Growth
1) Kedarnath Mirajkar
Education: Mr. Mirajkar has done PGDBM (Finance)
Experience: Prior to joining Zerodha Mutual Fund, he has worked with ABSL AMC, HDFC Bank as a Deupty Manager, Bombay Dyeing as a Finance Executive. He has over 10 years of experience in the Mutual Fund Industry.
AMC
Zerodha Asset Management Private Ltd.
Address: 153/154, 4th Cross, J.P Nagar 4th Phase, Opp. Clarence Public School, Bengaluru – 560078
Website: http://www.zerodhafundhouse.com
Registrar & Transfer Agent
Computer Age Management Services Ltd.
Address: 7th Floor, Tower II, Rayala Towers, 158, Anna Salai, Chennai – 600002
Website: www.camsonline.com
Review for Zerodha BSE SENSEX Index Fund Direct-Growth @ sahifund.com by Paresh Gordhandas, C.A. & Research Analyst
[ A ] Benchmark Performance of BSE Sensex TRI
Performance
| INDEX LEVEL | RETURNS | ANNUALIZED RETURNS | ||||||
| 1 MO | 3 MOS | YTD* | 1 YR | 3 YRS | 5 YRS | 10 YRS | ||
| TOTAL RETURNS | 125751.81 | 0.59% | -3.70% | 3.79% | -3.63% | 13.22% | 17.51% | 13.26% |
| PRICE RETURNS | 80267.62 | 0.57% | -3.99% | 2.72% | -4.78% | 11.81% | 16.09% | 11.87% |
Risk
| Index Level | Annualised Risk | ANNUALIZED RISK-ADJUSTED RETURNS | ||||||
| 1 YRS | 3 YRS | 5 YRS | 10 YRS | 1 YRS | 3 YRS | 5 YRS | 10 YRS | |
| Total Returns | 11.97% | 11.48% | 13.14% | 16.22% | -0.3 | 1.14 | 1.33 | 0.82 |
| Price Returns | 12.00% | 11.47% | 13.15% | 16.23% | -0.4 | 1.02 | 1.22 | 0.73 |
Fundamentals
| PE | PB | DIV. YIELD% |
| 22.2 | 4.28 | 1.2 |
Index Characteristics
| NUMBER OF CONSTITUENTS | – |
| CONSTITUENT MARKET CAP [INR CRORE] | |
| MEAN TOTAL MARKET CAP | 530407.22 |
| LARGEST TOTAL MARKET CAP | 1845558.67 |
| SMALLEST TOTAL MARKET CAP | 137068.56 |
| MEDIAN TOTAL MARKET CAP | 379257.56 |
| WEIGHT LARGEST CONSTITUENT [%] | 15.18 |
| WEIGHT TOP 10 CONSTITUENTS [%] | 64.85 |
Past Performance of Kedarnath Mirajkar
| Fund | Zerodha Nifty 1D Rate Liquid ETF | It’s Benchmark | Zerodha Gold ETF | It’s Benchmark |
| 1 Year | 5.78 | 4.69 | 63.93 | 66.92 |
| 3 Year | — | — | — | — |
| 5 Year | — | — | — | — |
| 7 Year | — | — | — | — |
| 10 Year | — | — | — | — |
As on 17-10-2025
[B] Review of Fund Managers
Kedarnath Mirajkar
-
Background: Mr. Mirajkar has done PGDBM (Finance), Prior to joining Zerodha Mutual Fund, he has worked with ABSL AMC, HDFC Bank as a Deupty Manager, Bombay Dyeing as a Finance Executive. He has over 10 years of experience in the Mutual Fund Industry.
Sahifund Verdict:
Investment Strategy
The scheme seeks to provide returns that closely correspond to the performance of the BSE Sensex TRI, subject to tracking error.
It invests passively in all 30 Sensex constituents, using a float-adjusted market-cap weighted methodology and semi-annual rebalancing (June & December).
Benchmark Review: BSE Sensex TRI
-
1-Month Return: 0.59%
-
1-Year Return: –3.63%
-
3-Year CAGR: 13.22%
-
5-Year CAGR: 17.51%
-
10-Year CAGR: 13.26%
-
P/E Ratio: 22.2 | P/B Ratio: 4.28 | Dividend Yield: 1.2%
-
Top-10 Weight: 64.85% | Largest Constituent: 15.18% weight
The index continues to mirror India’s corporate earnings resilience, led by BFSI, Energy, and IT majors.
Fund Manager Performance
Kedarnath Mirajkar manages:
-
Zerodha Nifty 1D Rate Liquid ETF — 1-Year Return: 5.78% vs Benchmark 4.69%
-
Zerodha Gold ETF — 1-Year Return: 63.93% vs Benchmark 66.92%
His prior stints with Aditya Birla Sun Life AMC and HDFC Bank lend him a sound operational and portfolio background.
Peer Comparison (as of Oct 2025)
| Fund Name | Benchmark | 1-Yr Return | 3-Yr CAGR | 5-Yr CAGR | Expense Ratio |
|---|---|---|---|---|---|
| Zerodha BSE Sensex Index Fund (NFO) | BSE Sensex TRI | N/A (new) | N/A | N/A | Expected ~0.15% |
| HDFC Index Fund – Sensex Plan | BSE Sensex TRI | 15.4% | 13.8% | 16.9% | 0.20% |
| ICICI Pru Sensex Index Fund | BSE Sensex TRI | 15.3% | 13.6% | 16.8% | 0.25% |
| Motilal Oswal Sensex Index Fund | BSE Sensex TRI | 15.5% | 13.9% | 17.0% | 0.23% |
| Nippon India Sensex Index Fund | BSE Sensex TRI | 15.4% | 13.7% | 16.9% | 0.21% |
The existing Sensex index funds have delivered 13–17% CAGR over 3–5 years with low tracking error and minimal expense ratios.
Sahifund Verdict
This NFO is a pure passive large-cap equity option, ideal for investors who want low-cost exposure to India’s 30 blue-chip companies.
✔️ Suitable for long-term investors (5+ years) with a high-risk appetite.
⚠️ Conservative or first-time investors may prefer established Flexi-Cap or multi-cap funds that offer better diversification and active alpha potential.
Final View
Zerodha’s foray into large-cap passive equity via the Sensex Index Fund adds scale to its low-cost mutual fund lineup. The low minimum investment (Rs. 100) and zero exit load make it an attractive entry point for long-term wealth accumulation.
However, investors should monitor tracking error, fund size, and liquidity in the initial year.
Disclaimer: Mutual fund investments are subject to market risks. Read all scheme related documents carefully
Is it good to invest in Zerodha BSE SENSEX Index Fund Direct-Growth NFO?
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