ICICI Pru Energy Opportunities Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 11, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
ICICI Pru Energy Opportunities Fund Direct Growth Plan has a NAV of ₹11.88 as of 10 Sep 2026 and an AUM of ₹8,276 Cr. Its 1-year, 3-year and 5-year returns are 17.62%, 0%, and 0% respectively, and the scheme is tagged as High Risk. Our view is that this is a narrow thematic equity fund with strong recent momentum, but the longer track record is still too short to judge it as a steady compounding option.
For investors, the key trade-off is simple: the fund gives exposure to energy-linked businesses, but the portfolio and benchmark behaviour can make returns uneven. It may suit investors who can accept sharp swings and want a sector-focused allocation rather than a broad market core.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹11.88 as of 10 Sep 2026 |
| AUM | ₹8,276 Cr |
| Expense Ratio | 0.53% |
| Launch Date | 22 Jul 2024 |
| Min SIP | ₹100 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Equity |
| Exit Load | 1% on or before 3M, Nil after 3M |
| Fund Managers | Nitya Mishra |
The fund is managed by Nitya Mishra.
Source data date: as of 10 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | 0.51% | -4.06% |
| 3M | 4.03% | 1.37% |
| 1Y | 17.62% | -7.31% |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
The last month has been relatively stable, with the fund inching up while the benchmark weakened. That is a useful sign for short-term resilience, but it does not erase the fact that this is still a young fund with only a limited history.
Over three months, the fund has stayed ahead of the benchmark, which helps confirm that the recent trend is not just a one-day move. The gap versus the benchmark is also visible over one year, where the fund has delivered positive returns while the benchmark has been negative.
The broader pattern, though, is not a smooth straight line. The 1-year path shows several reversals, so our view is that investors are seeing an uneven but improving profile rather than a fully consistent compounding pattern. For a thematic equity strategy, that matters because the return experience is likely to depend heavily on energy-cycle moves and sector sentiment.
Because the scheme was launched in July 2024, there is no meaningful 3-year or 5-year return history to assess. That makes the recent outperformance useful, but not enough on its own to establish how the fund behaves through a full cycle.
Source data date: as of 10 Sep 2026
Should you BUY or HOLD ICICI Pru Energy Opportunities?
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 Energy Opportunities? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| ICICI Pru Energy Opportunities Fund Direct Growth Plan | 17.62% | Data not available | Data not available |
| ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan | 73.94% | 37.12% | Data not available |
| Motilal Oswal Active Momentum Fund Direct Growth Plan | 29.94% | Data not available | Data not available |
| Kotak Healthcare Fund Direct Growth Plan | 29.26% | Data not available | Data not available |
| HDFC Pharma and Healthcare Fund Direct Growth Plan | 28.3% | Data not available | Data not available |
| SBI Automotive Opportunities Fund Direct Growth Plan | 27.13% | Data not available | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
On a one-year basis, the fund trails the stronger short-term numbers shown by several peer schemes, especially the metal-and-energy FoF and the momentum-led options. That said, the fund still compares favorably with the broader set of available one-year figures in the table only when judged against its own benchmark, which has been negative over the same period.
The more important point is that peer comparison is incomplete for longer horizons here. The current fund has no 3-year or 5-year record yet, while one peer does have a 3-year figure. So the short-term comparison suggests the fund has room to catch up with some peers, but the longer-term comparison cannot yet separate durability from a newer phase of performance.
Source data date: as of 10 Sep 2026
Want to know more? Log in to Univest for more mutual fund insights.
Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Reliance Industries Ltd. | Crude Oil | 9.26% |
| NTPC Ltd. | Power | 7.33% |
| Oil & Natural Gas Corporation Ltd. | Crude Oil | 5.26% |
| Oil India Ltd. | Crude Oil | 4.05% |
| Cummins India Ltd. | Automobile & Ancillaries | 3.43% |
| Bharat Petroleum Corporation Ltd. | Crude Oil | 3.36% |
| TD Power Systems Ltd. | Capital Goods | 3.05% |
| TREPS | Cash & Cash Equivalents and Net Assets | 2.8% |
| Kalpataru Projects International Ltd | Infrastructure | 2.59% |
| Indian Oil Corporation Ltd. | Crude Oil | 2.55% |
The top 10 holdings account for approximately 43.68% of the portfolio.
To see all holdings, visit the ICICI Pru Energy Opportunities Fund Direct Growth Plan page
The largest holding, Reliance Industries Ltd., stands at 9.26%, which is large enough to matter but not so dominant that it alone defines the fund. The next few positions are also meaningful, with NTPC Ltd. at 7.33% and Oil & Natural Gas Corporation Ltd. at 5.26%, so the portfolio starts with a clear energy-and-infrastructure tilt.
Weight then falls fairly steadily into the mid-single digits and low-single digits by the tenth holding. That kind of drop-off suggests the fund may be driven by a small set of core positions, while the smaller holdings can still add diversification without overwhelming the top names.
With 53 holdings disclosed and the top 10 accounting for 43.68%, the fund looks moderately concentrated rather than broadly dispersed. Our view is that this structure may increase the influence of a few large positions, while still leaving room for the rest of the book to contribute across a longer tail of holdings.
Source data date: as of 10 Sep 2026
Who should invest
This fund is better suited to investors who are comfortable with High Risk equity exposure and can tolerate sharp swings in a sector-focused strategy. The one-year return is positive, but the fund has no 3-year or 5-year history yet, so it is more appropriate for investors who can take a long view and do not need a smooth return path.
Relative to the benchmark, the fund has done better over 1 month, 3 months and 1 year, which strengthens the case for recent momentum. The trade-off is that the portfolio is built around a relatively concentrated set of holdings in energy-linked businesses, so returns may depend more on sector conditions than on the broader market.
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: 1% if units are sold within 3 months; nil after 3 months.
Source data date: as of 10 Sep 2026
Frequently asked questions
What is the current NAV of ICICI Pru Energy Opportunities Fund Direct Growth Plan?
The current NAV is ₹11.88 as of 10 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
Its 1-year return is 17.62%, while the 3-year and 5-year returns are not available because the scheme is still too young for those periods.
How has the fund performed against the benchmark?
It has beaten the benchmark over 1 month, 3 months and 1 year. The benchmark has been negative over the 1-month and 1-year windows, while the fund has stayed positive across all three periods shown.
How does it compare with peer funds on one-year return?
The fund’s one-year return is lower than several peer funds shown here, including the metal-and-energy FoF and the momentum-oriented options. The shorter track record also means longer-term comparison is limited.
What is the minimum SIP amount?
The minimum SIP is ₹100.
Who manages the fund and what is the exit load?
The fund is managed by Nitya Mishra. The exit load is 1% if units are sold within 3 months, and nil after 3 months.
Bottom line
ICICI Pru Energy Opportunities Fund Direct Growth Plan has started with a positive one-year return and has stayed ahead of its benchmark across the shorter windows shown, but it does not yet have a long performance history. Against peers, its one-year figure is more modest than several available comparators. The portfolio is also moderately concentrated, with a meaningful share in the top holdings and a strong tilt toward energy-linked businesses. In our view, it fits investors who are comfortable with High Risk and want a focused thematic equity allocation rather than a stable core holding.
Published on 11 September 2026 at 3:36 PM IST
Explore mutual funds with Univest
Review mutual fund data, compare performance and explore fund insights on Univest.
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.