ICICI Pru Nifty50 Value 20 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 18, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
ICICI Pru Nifty50 Value 20 Index Fund Direct Growth Plan has an NAV of ₹9.8117 as of 17 Sep 2026 and an AUM of ₹98 Cr. Its 1-year, 3-year and 5-year returns are -9.79%, 0% and 0%, and the scheme sits in the High Risk category. Our view is that this is a narrowly focused index strategy that has not yet built a long public performance record, so it may suit investors who want a rules-based equity allocation and can accept short-term swings.
The fund’s current stretch has been weaker than the benchmark, and its concentrated holdings profile means a few large positions are likely to matter more than in a broader portfolio. That combination makes it more appropriate for investors who are comfortable with volatility and who want exposure aligned to the index theme rather than a steadier return pattern.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹9.8117 as of 17 Sep 2026 |
| AUM | ₹98 Cr |
| Expense Ratio | 0.25% |
| Launch Date | 02 Feb 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 17 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -3.09% | -3.66% |
| 3M | -5.06% | -3.71% |
| 1Y | -9.79% | -7.13% |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
The recent picture is mixed. Over 1 month, the fund has declined less than the benchmark, which suggests the latest setback was milder than the market move. Over 3 months, however, the fund has fallen more than the benchmark, so the short window has been softer than the index overall.
The 1-year record also trails the benchmark, which tells us the weaker phase has lasted beyond a single volatile month. That matters because it points to a return path that has not just been choppy, but also somewhat lagging the benchmark in the most recently completed year.
We do not yet have a meaningful 3-year or 5-year track record to read as a full cycle. For that reason, the current assessment rests more on the short history and the recent path than on a long compounding record. The time pattern suggests the fund has experienced recovery attempts, but those have not yet translated into a cleaner, sustained edge over the benchmark.
For investors, that means this is better viewed as a benchmark-linked equity holding where tracking error and short-term underperformance can still matter. The benchmark comparison does not point to a stable outperformance story, so expectations should remain anchored to index-style participation rather than consistent excess returns.
Source data date: as of 17 Sep 2026
Should you BUY or HOLD ICICI Pru Nifty50 Value 20 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 Nifty50 Value 20 Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| ICICI Pru Nifty50 Value 20 Index Fund Direct Growth Plan | -9.79% | Data not available | Data not available |
| ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan | 29.31% | 30.01% | Data not available |
| Tata Nifty Capital Markets Index Fund Direct Growth Plan | 21.45% | Data not available | Data not available |
| Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan | 21.13% | Data not available | Data not available |
| Motilal Oswal Nifty MidSmall Financial Services Index Fund Direct Growth Plan | 20.68% | Data not available | Data not available |
| ICICI Pru Nifty Pharma Index Fund Direct Growth Plan | 17.57% | 18.84% | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
Against the peer set, the fund’s 1-year return is notably weaker than every available peer shown here. The gap is especially wide versus the better-performing thematic funds, which indicates that the latest year has been difficult for this strategy relative to the comparison group.
The 3-year and 5-year columns do not yet provide a fuller history for this fund, so the peer read is shaped more by the short-term figure than by multi-year compounding. Among peers that do have longer figures, the available records still look materially stronger than this fund’s present 1-year number, which leaves the current comparison tilted to the downside.
That said, the short-term and longer-term peer picture are not identical for the comparison group itself. Some peers show both strong 1-year and 3-year numbers, while others only show a strong 1-year figure. For this fund, the absence of a longer record means the main takeaway is simply that recent performance has lagged the better-known return profiles in this peer set.
Source data date: as of 17 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| HDFC Bank Ltd. | Bank | 13.6% |
| ICICI Bank Ltd. | Bank | 13.1% |
| Reliance Industries Ltd. | Crude Oil | 12.36% |
| State Bank of India | Bank | 10.39% |
| Infosys Ltd. | IT | 6.66% |
| Axis Bank Ltd. | Bank | 5.18% |
| ITC Ltd. | FMCG | 4.99% |
| Tata Consultancy Services Ltd. | IT | 4.15% |
| Oil & Natural Gas Corporation Ltd. | Crude Oil | 3.87% |
| Kotak Mahindra Bank Ltd. | Bank | 3.55% |
The top 10 holdings account for approximately 77.85% of the portfolio.
To see all holdings, visit the ICICI Pru Nifty50 Value 20 Index Fund Direct Growth Plan page
The largest holding, HDFC Bank Ltd., carries a 13.6% weight, so it is likely to have greater influence on the fund’s movement than any single smaller position. The gap to the tenth holding is also wide, falling to 3.55%, which shows how quickly the portfolio weight tapers off across the leading names.
The mix appears concentrated rather than evenly spread. The top 10 positions together account for 77.85% of the portfolio, and the full disclosed list contains 20 holdings, so a relatively small set of names may continue to drive most of the fund’s day-to-day behaviour.
That concentration can be consistent with an index-style structure, but it also means the fund may be more sensitive to moves in a handful of large financial, energy and technology names. For investors, the practical implication is that the portfolio could track the market theme closely, while still showing meaningful dependence on its largest weights.
Source data date: as of 17 Sep 2026
Who should invest
This fund fits investors who are comfortable with High Risk and can tolerate a weak patch in return delivery. The short record and the negative 1-year return make it better suited to those who can hold through volatility rather than those looking for a smoother outcome.
A longer horizon is more sensible here because the fund has only been live since February 2024 and does not yet offer a meaningful 3-year or 5-year history. The main trade-off is simple: you get a low-cost, rules-based equity exposure, but the recent return pattern has lagged the benchmark and has not yet shown a convincing longer-run edge.
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 17 Sep 2026
Frequently asked questions
What is the current NAV of ICICI Pru Nifty50 Value 20 Index Fund Direct Growth Plan?
The current NAV is ₹9.8117 as of 17 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
Its 1-year return is -9.79%, while the 3-year and 5-year returns are both 0 in the available record.
How has it performed versus the benchmark?
It has trailed Nifty 50 over 1 month, 3 months and 1 year. The benchmark numbers are less negative in each of those periods.
How does it compare with the peer funds shown here?
Its 1-year return is weaker than the peer funds listed alongside it. Several peers have posted clearly positive 1-year returns, and some also show stronger 3-year figures.
What is the minimum SIP amount?
The minimum SIP amount is ₹100.
Who manages the fund, and what is the exit load?
The fund is managed by Nishit Patel, Ashwini Shinde and Venus Ahuja. There is no exit load.
Bottom line
This fund’s recent return pattern is softer than its benchmark, and its limited history means there is not yet a long compounding record to offset that weakness. Compared with the peer set shown here, the 1-year figure also looks subdued. The portfolio is fairly concentrated, with large weights in a few bank and energy names, so the fund may move with those holdings more than a broadly spread scheme would. It is best viewed as a High Risk equity allocation for investors who can stay patient through uneven short-term results.
Published on 18 September 2026 at 12:07 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.