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Groww Money Market Fund Direct Growth vs Nippon India Money Market Fund - Direct Plan Growth Plan - Growth Option
Groww Money Market Fund Direct Growth and Nippon India Money Market Fund are both in the Money Market Fund category, from Groww Asset Management Limited and Nippon Life India Asset Management Limited respectively. Nippon India Money Market Fund has the lower expense ratio. See the full table and FAQ below for the complete real-data comparison.
Basics
Nippon India Money Market Fund has the lower direct-plan expense ratio, by 0.03 percentage points.
| Groww Money Market Fund Direct Growth | Nippon India Money Market Fund - Direct Plan Growth Plan - Growth Option | |
|---|---|---|
| Category | Money Market Fund | Money Market Fund |
| AMC | Groww Asset Management Limited | Nippon Life India Asset Management Limited |
| Benchmark | No benchmark required for this fund category | No benchmark required for this fund category |
| NAV | ₹10.5489 (2026-10-28) | ₹4571.4231 (2026-10-28) |
| AUM | ₹77.099 Cr | ₹20,305.031 Cr |
| Expense Ratio (Direct) | 0.25% | 0.22% |
| Inception | 2025-11-10 | 2005-06-15 |
Returns
This fund is less than a year old, so there is not yet enough history to calculate rolling returns.
Risk Metrics
Risk metrics aren't shown for debt funds. Their NAV starts near Rs 10 and compounds steadily, so CAGR, beta and drawdown measure the arithmetic rather than the manager.
Portfolio Analytics
Nippon India Money Market Fund carries the higher portfolio YTM.
Punji Fund Health Score
Groww Money Market Fund Direct Growth and Nippon India Money Market Fund carry the same Punji Quality grade.
Frequently asked questions
Which has a lower expense ratio, Groww Money Market Fund Direct Growth or Nippon India Money Market Fund?
Nippon India Money Market Fund's direct-plan expense ratio is 0.03 percentage points lower than Groww Money Market Fund Direct Growth's. Over long holding periods, a persistent expense-ratio gap compounds into a materially different final corpus even if the two funds' gross returns are similar - it's one of the few fund attributes you can compare with total certainty upfront, unlike future returns, since the fee is contractually fixed rather than a historical estimate.
Why don't Groww Money Market Fund Direct Growth and Nippon India Money Market Fund show risk metrics like Sharpe ratio or alpha?
Risk metrics aren't shown for debt funds. Their NAV starts near Rs 10 and compounds steadily, so CAGR, beta and drawdown measure the arithmetic rather than the manager. This is a deliberate methodology choice, not missing data - risk metrics like alpha and Sharpe ratio are most meaningful for actively-managed funds where a manager makes decisions that can add or subtract value versus a benchmark. For a fund that mechanically tracks an index, the equivalent useful metric is tracking error (how closely it follows its index), not alpha.
Which has higher AUM, Groww Money Market Fund Direct Growth or Nippon India Money Market Fund?
Nippon India Money Market Fund has ₹20,305 Cr in assets under management, versus ₹77 Cr for Groww Money Market Fund Direct Growth. A larger AUM generally means deeper liquidity and lower per-unit fixed costs for the AMC to spread across investors, but an AUM that's very large relative to a fund's category and strategy (especially in small/mid cap categories, where the investable universe is smaller) can also make it harder for a manager to enter and exit positions without moving the price - bigger isn't automatically better, especially for less liquid categories.
Which has a higher yield to maturity (YTM), Groww Money Market Fund Direct Growth or Nippon India Money Market Fund?
Nippon India Money Market Fund's portfolio YTM (6.97%) is higher than Groww Money Market Fund Direct Growth's. YTM is the weighted-average return a debt fund's current bond holdings would earn if held to maturity, assuming no defaults and coupons reinvested at the same rate - a useful forward-looking yield estimate for debt funds the way rolling CAGR is for equity funds, though it's an estimate based on today's portfolio, not a guaranteed return, and can move as bonds are bought/sold or as interest rates change.
Which has longer duration (more interest-rate sensitivity), Groww Money Market Fund Direct Growth or Nippon India Money Market Fund?
Nippon India Money Market Fund has the longer Macaulay duration of the two, meaning its NAV is more sensitive to interest-rate changes - a longer-duration debt fund tends to gain more when rates fall and lose more when rates rise, compared to a shorter-duration fund. Duration is expressed in years but isn't literally about how long you hold the fund; it's a measure of price sensitivity to rate moves. If you expect rates to fall, the longer-duration fund benefits more; if you expect rates to rise or want to minimize that swing, the shorter-duration fund is the more conservative pick.
Which fund has a longer track record, Groww Money Market Fund Direct Growth or Nippon India Money Market Fund?
Nippon India Money Market Fund launched on 2005-06-15, making it older than Groww Money Market Fund Direct Growth (launched 2025-11-10). A longer track record means more real market cycles (bull runs, corrections, rate cycles) the fund has actually navigated, which is useful context for judging consistency - but it isn't a guarantee of future performance, and a newer fund isn't automatically worse, especially if it's run by an experienced manager or team with a track record at a prior fund.
Data as of 2026-10-29. Source: AMFI disclosures via Punji. Not investment advice.