ICICI Pru Nifty200 Value 30 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 15, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
ICICI Pru Nifty200 Value 30 Index Fund Direct Growth Plan closed at ₹10.8197 as of 11 Sep 2026, with scheme AUM of ₹190 Cr. Its 1-year, 3-year and 5-year returns are 13.87%, 0% and 0%, and the scheme is tagged High Risk. Our view is that this is a value-oriented index strategy for investors who want a passive core with a differentiated factor tilt, but the available return history is still short and the recent trend has been uneven.
The fund’s benchmark behaviour and portfolio mix suggest it can move differently from a broad large-cap market barometer. That makes it more suitable for investors who understand that the factor tilt may help in some phases and lag in others, rather than for those looking for a steady, low-variation outcome.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹10.8197 as of 11 Sep 2026 |
| AUM | ₹190 Cr |
| Expense Ratio | 0.38% |
| Launch Date | 18 Oct 2024 |
| Min SIP | ₹100 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Index Funds |
| Exit Load | No exit load |
| Fund Managers | Nishit Patel, Ashwini Shinde, Venus Ahuja |
The fund is managed by Nishit Patel, Ashwini Shinde and Venus Ahuja.
Source data date: as of 11 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -2.61% | -3.66% |
| 3M | -5.3% | -1.91% |
| 1Y | 13.87% | -7.62% |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
The one-year result stands out because the fund is positive while the benchmark is negative over the same window. That gap tells us the strategy has recently behaved differently from the benchmark and has captured a period in which its value tilt worked better than the broader market proxy.
The shorter windows are less supportive. Over 1 month, the fund still declined, though by less than the benchmark. Over 3 months, the fund lagged the benchmark, which points to a choppier recent stretch rather than a smooth advance. That is important for an index fund because the investor experience can vary materially even when the strategy is passive.
The series pattern also suggests a fund that has not followed a straight line. There was a recovery phase through the middle of the year, but the later readings softened again. Our view is that this kind of pattern fits a factor strategy that can cycle between periods of outperformance and underperformance, instead of tracking the market in a uniform way.
Because the scheme is still relatively new, the longer-horizon picture is not yet established. The current 1-year figure is constructive, but the 3-month weakness keeps the recent trend from looking consistently strong. For investors, that means the short-term evidence is promising but not enough to treat the strategy as stable through a full market cycle.
Source data date: as of 11 Sep 2026
Should you BUY or HOLD ICICI Pru Nifty200 Value 30 Index?
A fund’s past returns alone don’t tell you whether you should buy it today or continue holding it.
The right decision depends on factors such as your current allocation, purchase price, risk profile, investment horizon and the role this fund plays in your overall portfolio.
Already holding ICICI Pru Nifty200 Value 30 Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| ICICI Pru Nifty200 Value 30 Index Fund Direct Growth Plan | 13.87% | Data not available | Data not available |
| ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan | 32.61% | 29.92% | Data not available |
| Motilal Oswal Nifty India Defence Index Fund Direct Growth Plan | 26.23% | Data not available | Data not available |
| Aditya Birla SL Nifty India Defence Index Fund Direct Growth Plan | 26.22% | Data not available | Data not available |
| Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan | 26.18% | Data not available | Data not available |
| Tata Nifty Capital Markets Index Fund Direct Growth Plan | 25.91% | Data not available | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
On 1-year return, this fund trails the peer names listed here that have stronger one-year numbers, although the gap is not unusual for a strategy with a value bias. The bigger issue is that the available 3-year and 5-year fields for this scheme are not yet meaningful, so the peer comparison is heavily skewed toward recent performance.
That means the short-term peer picture is mixed rather than definitive. Several peers have sharper one-year outcomes, but the current fund still looks better than the benchmark over the same period. For an investor, the takeaway is that the scheme has shown competitive recent performance versus the benchmark, while the peer set contains funds with more established and stronger multi-year records where data is available.
Source data date: as of 11 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Bharat Petroleum Corporation Ltd. | Crude Oil | 5.31% |
| State Bank of India | Bank | 5.30% |
| Oil & Natural Gas Corporation Ltd. | Crude Oil | 5.00% |
| Hindalco Industries Ltd. | Non – Ferrous Metals | 4.97% |
| NTPC Ltd. | Power | 4.74% |
| Coal India Ltd. | Mining | 4.70% |
| Indian Oil Corporation Ltd. | Crude Oil | 4.62% |
| Tata Motors Passenger Vehicles Ltd. | Automobile & Ancillaries | 4.57% |
| ITC Ltd. | FMCG | 4.55% |
| Grasim Industries Ltd. | Diversified | 4.40% |
The top 10 holdings account for approximately 48.16% of the portfolio.
To see all holdings, visit the ICICI Pru Nifty200 Value 30 Index Fund Direct Growth Plan page
The largest holding, Bharat Petroleum Corporation Ltd., stands at 5.31%, while the tenth holding is 4.40%. That is a fairly tight spread, so the portfolio does not rely on one oversized position; instead, the largest names sit in a narrow band around the mid-single-digit range.
The combined weight of the top 10 holdings is 48.16% across 30 disclosed holdings, which suggests meaningful concentration in the leading positions but not a fully concentrated portfolio. The remaining holdings may still matter, yet the largest names are likely to have greater influence on near-term movements because they account for almost half of the disclosed portfolio.
The mix also shows exposure across energy, banking, metals, power, mining, FMCG and autos. That spread could help balance sector-specific swings, but it also means the scheme’s outcome may depend on how value-heavy sectors move relative to the broader market. The overall structure looks diversified, though with enough concentration in the top names to keep the portfolio from behaving like a broad market average at every point.
Source data date: as of 11 Sep 2026
Who should invest
This fund may suit investors who can tolerate High Risk and are comfortable with a strategy that can diverge from the broader market in both directions. The short operating history and the uneven 1-month and 3-month outcomes mean it is better viewed with a longer holding horizon than a tactical one.
It is more relevant for investors who want passive equity exposure with a value tilt and can accept that such a strategy may outperform in some periods and lag in others. The main trade-off is between the possibility of better relative outcomes when value segments lead and the likelihood of periods when the same tilt trails a broad benchmark.
For investors comparing it with a plain large-cap index, the key question is not only return potential but also whether they are comfortable with a style that can behave differently from the mainstream market path.
Tax and exit load
| Holding period | Tax rate | Description |
|---|---|---|
| Units held less than 1 year | 20% | Short-term capital gains tax |
| Units held more than 1 year | 12.5% | Long-term capital gains tax |
Exit load: No exit load.
Source data date: as of 11 Sep 2026
Frequently asked questions
What is the current NAV of ICICI Pru Nifty200 Value 30 Index Fund Direct Growth Plan?
The current NAV is ₹10.8197 as of 11 Sep 2026. It was down 0.82% in the latest reading.
How has the fund performed over 1 year, 3 years and 5 years?
Its 1-year return is 13.87%, while the 3-year and 5-year figures are not yet available as meaningful trailing records for this new scheme.
How does the fund compare with the benchmark?
Over 1 year, the fund has outperformed the benchmark, which is negative over the same period. Over 1 month and 3 months, the picture is mixed, with the fund ahead in 1 month but behind in 3 months.
How does it compare with the peer funds listed here?
On the available 1-year figures, several peer funds have stronger recent returns, while this scheme still compares favourably with the benchmark. The multi-year peer comparison is limited because this fund does not yet have usable 3-year and 5-year figures.
What is the minimum SIP amount?
The minimum SIP amount is ₹100.
What are the risk, portfolio and exit-load features?
The scheme is marked High Risk and holds 30 disclosed securities, with the top 10 accounting for 48.16% of the portfolio. It also has no exit load.
Bottom line
This is a young value-oriented index fund with a positive 1-year outcome, but its shorter windows have been uneven and do not yet confirm a steady pattern. Compared with the peer funds shown here, the available one-year return is lower than several recent standouts, while the benchmark comparison is still constructive. The High Risk tag, sector spread and mid-single-digit weights across the largest holdings make it more suitable for investors who accept style drift and want a differentiated passive equity exposure.
Published on 15 September 2026 at 3:13 PM IST
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RIA disclosure
Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. This review is prepared by Uniapps Investment Adviser Pvt. Ltd. (earlier known as Uniapps Global Research Pvt. Ltd.) under SEBI Registered Investment Adviser registration INA000017639 for general informational purposes and is not personalized investment advice.