ICICI Pru Housing Opp Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 17, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
ICICI Pru Housing Opp Fund Direct Growth Plan has a NAV of ₹17.46 as of 16 Sep 2026 and an AUM of ₹2,728 Cr. Its 1-year, 3-year and 5-year returns are -3.85%, 9.89% and 0%, respectively, and it sits in the High Risk bucket. Our view is that it suits investors who can tolerate sharp swings and are willing to hold through uneven shorter-term performance in exchange for exposure to a portfolio that is meaningfully tilted toward large, cyclical and interest-rate-sensitive names.
The recent return pattern is weaker than the longer 3-year record, while the 5-year figure is still too short on history to build a full long-cycle case. The fund has also moved differently from its benchmark, so the fit is more about accepting volatility than expecting steady near-term consistency.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹17.46 as of 16 Sep 2026 |
| AUM | ₹2,728 Cr |
| Expense Ratio | 1.15% |
| Launch Date | 18 Apr 2022 |
| Min SIP | ₹100 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Equity |
| Exit Load | 1% on or before 1M, Nil after 1M |
| Fund Managers | Sanket Gaidhani |
The fund is managed by Sanket Gaidhani.
Source data date: as of 16 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -5.31% | -4.41% |
| 3M | -4.33% | -3.60% |
| 1Y | -3.85% | -7.76% |
| 3Y | 9.89% | 5.74% |
| 5Y | Data not available | Data not available |
The fund has been weak over the latest 1M and 3M windows, and both periods show a softer trend than the benchmark. That tells us the scheme is still sensitive to short bursts of market pressure, which matters for investors expecting a smoother path.
At the 1-year mark, the fund is still negative, but it has held up better than the benchmark, which fell more sharply. That relative resilience is useful, yet it does not erase the fact that the absolute return remains below zero.
The stronger point is the 3-year number. The fund’s 9.89% return is ahead of the benchmark’s 5.74%, so the longer holding period has so far rewarded patience more than the recent numbers suggest. The gap between the near-term weakness and the 3-year improvement shows a fund that can recover, but not in a straight line.
The time pattern also supports that reading: the 3-year track is not smooth, with several drawdowns and partial rebounds along the way. In our view, that makes the scheme better suited to investors who can stay invested through uneven phases rather than those looking for steady short-horizon consistency.
Source data date: as of 16 Sep 2026
Should you BUY or HOLD ICICI Pru Housing Opp?
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 Housing Opp? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| ICICI Pru Housing Opp Fund Direct Growth Plan | -3.85% | 9.89% | Data not available |
| ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan | 69.8% | 36.32% | Data not available |
| HDFC Pharma and Healthcare Fund Direct Growth Plan | 25.31% | Data not available | Data not available |
| Kotak Healthcare Fund Direct Growth Plan | 25.27% | Data not available | Data not available |
| Motilal Oswal Active Momentum Fund Direct Growth Plan | 24.51% | Data not available | Data not available |
| PGIM India Healthcare Fund Direct Growth Plan | 22.75% | Data not available | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
On the 1-year view, the fund trails the strongest peer numbers by a wide margin because its return is still negative while the peer set includes several sharply positive outcomes. That makes the recent stretch look comparatively soft even though the benchmark comparison is less negative.
The 3-year picture is more balanced. The fund’s 9.89% return is below the most aggressive peer outcome in the list, but it is clearly stronger than the current fund’s short-term tone might suggest and also above the benchmark’s 3-year figure. Since most peer entries do not carry 3-year or 5-year figures, the comparison is more informative on the 1-year side than on the longer horizon.
So the peer story is mixed: the fund is not matching the strongest short-term peer returns, but it does show a more credible 3-year record than its own recent decline would imply.
Source data date: as of 16 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| NTPC Ltd. | Power | 6.92% |
| ICICI Bank Ltd. | Bank | 6.7% |
| HDFC Bank Ltd. | Bank | 6.29% |
| Tata Steel Ltd. | Iron & Steel | 5.82% |
| Asian Paints Ltd. | Chemicals | 5.48% |
| Larsen & Toubro Ltd. | Infrastructure | 4.9% |
| Ultratech Cement Ltd. | Construction Materials | 3.85% |
| Oberoi Realty Ltd. | Realty | 3.84% |
| Shree Cements Ltd. | Construction Materials | 3.65% |
| State Bank of India | Bank | 2.93% |
The top 10 holdings account for approximately 50.38% of the portfolio.
To see all holdings, visit the ICICI Pru Housing Opp Fund Direct Growth Plan page
The largest position, NTPC Ltd., is 6.92%, so no single stock dominates the portfolio outright. Even so, the top end is fairly meaningful because the first five holdings already cluster in the 5% to 7% band, which could make the fund more responsive to moves in a handful of large names.
Weight then tapers gradually rather than collapsing after the first few positions. The fall from the largest holding to the tenth is not extreme, and that suggests the portfolio is spread across several sizeable bets rather than concentrated in one or two oversized positions.
At the same time, the top 10 holdings at 50.38% of the portfolio indicate that about half the scheme sits in a relatively small set of names, while the remaining 36 disclosed holdings provide the longer tail. In our view, that creates a balance: there is diversification, but the listed leaders are still likely to have greater influence on outcomes than the tail.
Source data date: as of 16 Sep 2026
Who should invest
This fund fits investors with a high risk tolerance and a long enough horizon to absorb uneven short-term returns. The 1-year result is negative, but the 3-year record is positive and better than the benchmark over the same period, which points to a strategy that may need time to work through cycles.
It can suit investors who are comfortable with a portfolio that leans on large banks, power, infrastructure, metals and real estate, because those exposures can move differently from the broader market. The main trade-off is clear: you accept more variability in the near term in exchange for the possibility that the longer holding period may be more rewarding than the recent stretch suggests.
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 on or before 1 month; nil after 1 month.
Source data date: as of 16 Sep 2026
Frequently asked questions
What is the current NAV of ICICI Pru Housing Opp Fund Direct Growth Plan?
The current NAV is ₹17.46 as of 16 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year return is -3.85%, its 3-year return is 9.89%, and its 5-year return is 0% in the available record.
How does the fund compare with the benchmark?
It is ahead of the benchmark over 1 year and 3 years, but the 1-year result is still negative while the benchmark is also negative. Over 3 years, the fund’s 9.89% return is above the benchmark’s 5.74%.
How does it compare with the peer funds listed here?
The fund’s 1-year return is below the strongest peer numbers shown, while several peers have much higher short-term gains. On the 3-year view, the fund has a positive return, whereas only one peer in the list carries a 3-year figure and it is higher.
What is the minimum SIP amount?
The minimum SIP amount is ₹100.
What is the risk category and who manages the fund?
The fund is in the High Risk category and is managed by Sanket Gaidhani. That combination suits investors who can tolerate volatility and want to stay invested for a longer horizon.
Bottom line
This fund’s recent performance is weaker than its 3-year record, so the short-term story and longer-term picture do not match. It also sits in the High Risk category, and its portfolio is led by a fairly concentrated set of large positions rather than a very broad spread.
Against the benchmark, the fund has held up better over 1 year but has also shown a bumpier path. Relative to the peer set shown here, its short-term return is far below the strongest names, while its longer-term result still leaves room for the strategy to be judged over a fuller cycle.
Published on 17 September 2026 at 2:51 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.