ICICI Prudential Nifty LargeMidcap 250 Index Fund vs Zerodha CASE ELSS Tax Saver Nifty LargeMidcap 250 Index Fund
ICICI Prudential Nifty LargeMidcap 250 Index Fund and Zerodha CASE ELSS Tax Saver Nifty LargeMidcap 250 Index Fund are both Nifty LargeMidcap 250 Index Funds & ETFs. As of 6 Nov 2026 (Direct plan, Growth option): 3-year CAGR — vs —, 5-year CAGR — vs —, volatility 16.55% vs 16.13%, maximum drawdown −18.91% vs −18.72%. Their portfolios overlap by 99.4% (250 stocks held by both).
Showing the Direct plan, Growth option. Portfolio, sector and market-cap figures are the same for every plan and option of a fund.
Key facts
| ICICI Prudential Nifty LargeMidcap 250 Index | Zerodha CASE ELSS Tax Saver Nifty LargeMidcap 250 Index | |
|---|---|---|
| Fund house | ICICI Prudential Mutual Fund | Zerodha CASE Mutual Fund |
| Compared as | Nifty LargeMidcap 250 Index Funds & ETFs | Nifty LargeMidcap 250 Index Funds & ETFs |
| NAV | ₹12.5121 | ₹14.4345 |
| NAV date | 6 Nov 2026 | 6 Nov 2026 |
| Launched (first NAV) | 14 Mar 2024 | 10 Nov 2023 |
| Track record | 2.6 yrs | 3.0 yrs |
| Fund size (AUM) | ₹290 Cr | ₹280 Cr |
| Securities held | 250 | 250 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| ICICI Prudential Nifty LargeMidcap 250 Index | Zerodha CASE ELSS Tax Saver Nifty LargeMidcap 250 Index | |
|---|---|---|
| 1 month | +5.71% | +5.75% |
| 3 months | −1.87% | −1.75% |
| 6 months | +0.84% | +1.16% |
| 1 year | +0.95% | +1.62% |
| 3 years (CAGR) | — | — |
| 5 years (CAGR) | — | — |
| 7 years (CAGR) | — | — |
| 10 years (CAGR) | — | — |
| Since launch (CAGR) | +8.26% | +13.02% |
| SIP return (XIRR, 5 years) ⓘ | — | — |
Up to one year: absolute return. Beyond one year: CAGR. Computed from each fund's own NAV history (AMFI), measured to the latest NAV.
Calendar-year returns
| ICICI Prudential Nifty LargeMidcap 250 Index | Zerodha CASE ELSS Tax Saver Nifty LargeMidcap 250 Index | |
|---|---|---|
| 2026 (year to date) | −0.86% | −0.29% |
| 2025 | +7.83% | +8.44% |
| 2024 | — | +18.59% |
Risk
| ICICI Prudential Nifty LargeMidcap 250 Index | Zerodha CASE ELSS Tax Saver Nifty LargeMidcap 250 Index | |
|---|---|---|
| Volatility (annualised) ⓘ | 16.55% | 16.13% |
| Downside volatility ⓘ | 11.93% | 11.18% |
| Sharpe ratio ⓘ | 0.11 | 0.40 |
| Sortino ratio ⓘ | 0.15 | 0.58 |
| Maximum drawdown ⓘ | −18.91% | −18.72% |
| Recovery from that fall | 10 months | 9 months |
| Current fall from peak | −2.29% | −2.16% |
| Rolling 1-year return: worst | −8.25% | −7.66% |
| Rolling 1-year return: median | +4.16% | +5.67% |
| Rolling 1-year return: best | +17.92% | +33.38% |
| Share of 1-year periods with a loss | 21.92% | 14.66% |
Against each fund's benchmark
| ICICI Prudential Nifty LargeMidcap 250 Index | Zerodha CASE ELSS Tax Saver Nifty LargeMidcap 250 Index | |
|---|---|---|
| Beta ⓘ | 1.09 | 1.06 |
| Alpha (Jensen's, annualised) ⓘ | +3.15% | +2.60% |
| R² ⓘ | 95.80 | 94.61 |
| Upside capture | 116.55% | 112.90% |
| Downside capture | 103.05% | 101.81% |
| Tracking error | 3.58% | 3.80% |
| Information ratio | 0.76 | 0.69 |
| Treynor ratio | -1.50 | 2.48 |
Portfolio
Asset mix
| ICICI Prudential Nifty LargeMidcap 250 Index | Zerodha CASE ELSS Tax Saver Nifty LargeMidcap 250 Index | |
|---|---|---|
| Equity | 99.06% | 99.60% |
| REITs / InvITs | 0.93% | 0.47% |
| Cash & equivalents | 0.07% | -0.07% |
Market-cap split (share of fund assets)
| ICICI Prudential Nifty LargeMidcap 250 Index | Zerodha CASE ELSS Tax Saver Nifty LargeMidcap 250 Index | |
|---|---|---|
| Large Cap | 51.67% | 51.99% |
| Mid Cap | 46.08% | 46.34% |
| Small Cap | 1.26% | 1.27% |
| Unclassified | 0.00% | 0.00% |
Concentration
| ICICI Prudential Nifty LargeMidcap 250 Index | Zerodha CASE ELSS Tax Saver Nifty LargeMidcap 250 Index | |
|---|---|---|
| Top 10 holdings | 21.14% | 21.27% |
| Effective number of stocks ⓘ | 108.7 | 108.1 |
| Securities held | 250 | 250 |
Portfolio overlap: 99.4%
250 companies are held by both funds; by weight, 99.4% of the two portfolios is the same. That is a high overlap: holding both adds little diversification beyond holding one.
| Held by both | ICICI Prudential Nifty LargeMidcap 250 Index | Zerodha CASE ELSS Tax Saver Nifty LargeMidcap 250 Index |
|---|---|---|
| HDFC Bank Limited | 4.19% | 4.22% |
| ICICI Bank Limited | 3.66% | 3.68% |
| Reliance Industries Limited | 3.06% | 3.08% |
| Bharti Airtel Limited | 2.06% | 2.08% |
| Larsen & Toubro Limited | 1.70% | 1.71% |
| State Bank of India | 1.53% | 1.54% |
| Axis Bank Limited | 1.36% | 1.37% |
| Infosys Limited | 1.36% | 1.36% |
| Kotak Mahindra Bank Limited | 1.19% | 1.19% |
| Multi Commodity Exchange of India Limited | 1.03% | 1.04% |
| Mahindra & Mahindra Limited | 1.02% | 1.02% |
| Bajaj Finance Limited | 1.01% | 1.02% |
| ITC Limited | 0.98% | 0.98% |
| The Federal Bank Limited | 0.96% | 0.97% |
| Laurus Labs Limited | 0.94% | 0.95% |
Top 10 holdings
ICICI Prudential Nifty LargeMidcap 250 Index
- HDFC Bank Limited4.19%
- ICICI Bank Limited3.66%
- Reliance Industries Limited3.06%
- Bharti Airtel Limited2.06%
- Larsen & Toubro Limited1.70%
- State Bank of India1.53%
- Axis Bank Limited1.36%
- Infosys Limited1.36%
- Kotak Mahindra Bank Limited1.19%
- Multi Commodity Exchange of India Limited1.03%
Zerodha CASE ELSS Tax Saver Nifty LargeMidcap 250 Index
- HDFC Bank Limited4.22%
- ICICI Bank Limited3.68%
- Reliance Industries Limited3.08%
- Bharti Airtel Limited2.08%
- Larsen & Toubro Limited1.71%
- State Bank of India1.54%
- Axis Bank Limited1.37%
- Infosys Limited1.36%
- Kotak Mahindra Bank Limited1.19%
- Multi Commodity Exchange of India Limited1.04%
Sector exposure
| ICICI Prudential Nifty LargeMidcap 250 Index | Zerodha CASE ELSS Tax Saver Nifty LargeMidcap 250 Index | |
|---|---|---|
| Banks | 16.84% | 16.95% |
| Pharmaceuticals & Biotechnology | 6.70% | 6.73% |
| Finance | 6.47% | 6.50% |
| IT - Software | 5.54% | 5.58% |
| Retailing | 4.26% | 4.29% |
| Automobiles | 4.00% | 4.01% |
| Petroleum Products | 3.91% | 3.93% |
| Electrical Equipment | 3.70% | 3.74% |
| Consumer Durables | 3.30% | 3.32% |
| Power | 3.16% | 3.18% |
| Telecom - Services | 3.16% | 3.18% |
| Capital Markets | 3.00% | 3.02% |
| Realty | 2.78% | 2.33% |
| Auto Components | 2.71% | 2.73% |
Questions people ask
What is the difference between ICICI Prudential Nifty LargeMidcap 250 Index and Zerodha CASE ELSS Tax Saver Nifty LargeMidcap 250 Index returns?
As of 6 Nov 2026, Direct plan Growth option: 1-year return +0.95% vs +1.62%; 3-year CAGR — vs —; 5-year CAGR — vs —; 10-year CAGR — vs —. Past returns do not indicate future returns.
How do ICICI Prudential Nifty LargeMidcap 250 Index and Zerodha CASE ELSS Tax Saver Nifty LargeMidcap 250 Index compare on risk?
Volatility (36 monthly returns, annualised) 16.55% vs 16.13%; Sharpe ratio 0.11 vs 0.40; Sortino ratio 0.15 vs 0.58; maximum drawdown −18.91% vs −18.72%; beta 1.09 vs 1.06.
How much do ICICI Prudential Nifty LargeMidcap 250 Index and Zerodha CASE ELSS Tax Saver Nifty LargeMidcap 250 Index overlap?
By weight, 99.4% of the two portfolios is invested in the same companies; 250 stocks are held by both, the largest shared positions being HDFC Bank Limited, ICICI Bank Limited, Reliance Industries Limited. Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of ICICI Prudential Nifty LargeMidcap 250 Index and Zerodha CASE ELSS Tax Saver Nifty LargeMidcap 250 Index?
ICICI Prudential Nifty LargeMidcap 250 Index: large cap 51.7%, mid cap 46.1%, small cap 1.3%. Zerodha CASE ELSS Tax Saver Nifty LargeMidcap 250 Index: large cap 52.0%, mid cap 46.3%, small cap 1.3% (share of the fund's assets, from its latest disclosed portfolio).
Is this a recommendation to choose one of these funds?
No. This page places the published figures of both funds side by side. It does not rank, rate or recommend either fund; which one suits an investor depends on their goals, horizon and risk tolerance.
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Sources: NAV from AMFI; returns, risk and ratios computed by MF Analyser from each fund's NAV history (risk on 36 monthly returns, risk-free rate 6.5%); benchmark ratios against each fund's benchmark total-return index; portfolios from each fund house's monthly disclosure. Returns and ratios as of 6 Nov 2026. IDCW options show no return or risk figures because payouts reduce the NAV and AMFI's file carries no payout history to add back. This page compares published figures only — it does not rank, rate or recommend either fund. Past performance does not indicate future returns; mutual fund investments are subject to market risks.