ICICI Pru Multi Sector Passive FOF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

ICICI Pru Multi Sector Passive FOF Direct Growth Plan has a NAV of ₹178.4969 as of 04 Sep 2026 and scheme AUM of ₹256 Cr. Its 1-year, 3-year and 5-year returns are 6.14%, 13.35% and 11.98%, and it sits in the High Risk category.

Our view is that this fund suits investors who are comfortable with sharper swings and want a diversified sector-led approach rather than a plain broad-market tracker. The long-term numbers are better than the benchmark, but the most recent 1-year result is more restrained, so the fund may fit a patient horizon better than a short holding period.

Quick facts

The fund is managed by Sankaran Naren, Dharmesh Kakkad, Sharmila Dsilva and Masoomi Jhurmarvala.

Source data date: as of 04 Sep 2026

Performance

The recent pattern is mixed but not weak. Over 1 month, the fund fell less than the benchmark, and over 3 months it moved ahead of the benchmark, which tells us the latest stretch has been more resilient than the index even though it has not been smooth every week.

The 1-year figure also stays ahead of the benchmark by a clear margin, while the 3-year and 5-year returns show a stronger compounding track than the index. That is important because the longer window suggests the strategy has added value beyond a single short-term rebound. The 3-year return is especially useful here: it shows the fund has been able to maintain a healthier growth path through a fuller market cycle.

The time pattern behind the returns also points to uneven movement rather than a straight line. There are visible phases of recovery and pullback across the past year and the past three years, so investors should expect volatility. Even so, the longer trend remains constructive, and the fund has held its edge over the benchmark across all the supplied periods.

For a broad-market reference point, the benchmark has been softer over 1 year and still trails over 3 years and 5 years. So our read is that the fund has done more than simply mirror the index; it has added a return cushion in the longer run, although the latest 1-month reading shows the path can still turn negative over short windows.

Source data date: as of 04 Sep 2026

Peer comparison

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.

The fund’s 1-year return is far below the silver-focused peer set listed here, but that comparison needs context because those funds are built around a very different theme. Against peers with available medium-term numbers, its 3-year return of 13.35% is well below the silver FoF figures shown, while the 5-year return of 11.98% is also more modest than the longer-horizon peer readings available in the table.

That makes the story a split one. On a short basis, this fund looks subdued next to the peer set, but its longer-term return profile is still constructive relative to its own benchmark and shows steady compounding rather than theme-driven spikes. For investors comparing only the available figures, the peer table suggests this fund is not chasing the strongest recent bursts; it is following a different return pattern with more measured upside.

Source data date: as of 04 Sep 2026

Portfolio: where your money goes

The largest holding, ICICI Prudential Nifty Private Bank ETF, carries a weight of 26.49%, so it is likely to have the most influence on the fund’s near-term movement. That is a meaningful starting weight in a fund that is built from sector ETFs, because one position can matter more than in a widely spread stock basket.

Weight then falls to 10.41% in the second holding and continues down to 4.04% in TREPS at the tenth listed holding. The drop from the first to the tenth holding is steep enough to show that the portfolio is not evenly balanced across its top positions, even though the holdings list still spans several sectors such as banking, oil & gas, FMCG, pharma, IT, power, auto and metals.

The top 10 holdings account for approximately 94.9% of the portfolio, and there are 13 disclosed holdings in total. That tells us the visible portfolio is fairly concentrated in its main positions, with a longer tail beyond the top 10 that is smaller in size. For investors, this means sector calls may contribute meaningfully to returns, but the fund still carries a cash buffer through TREPS and a spread across multiple themes.

To see all holdings, visit the ICICI Pru Multi Sector Passive FOF Direct Growth Plan page

Source data date: as of 04 Sep 2026

Who should invest

This fund is better suited to investors who can tolerate High Risk volatility and who are willing to stay invested for a longer horizon. The 1-year return is modest compared with the stronger 3-year and 5-year figures, so the fund looks more appropriate for someone who can sit through uneven phases rather than expect a smooth short-term path.

Its edge over the benchmark across 1-year, 3-year and 5-year windows is a positive sign, but the short-term movement shows that gains can still wobble. Investors who want a strategy with broad sector exposure and a history of better long-run compounding than the index may find it relevant, while those needing steadier month-to-month results may not.

The main trade-off is clear: you may get a differentiated sector-driven return pattern and better long-run outcomes than the benchmark, but you must accept concentration in a few larger ETF positions and the possibility of sharp swings in shorter periods.

Tax and exit load

Exit load applies as 1% on or before 15D, and nil after 15D.

Source data date: as of 04 Sep 2026

Frequently asked questions

What is the current NAV of ICICI Pru Multi Sector Passive FOF Direct Growth Plan?
The current NAV is ₹178.4969 as of 04 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year, 3-year and 5-year returns are 6.14%, 13.35% and 11.98%.

How does this fund compare with Nifty 50?
It has outpaced Nifty 50 across the 1-year, 3-year and 5-year periods shown here. The benchmark returns are -4.43%, 5.88% and 6.29% for those windows.

How does it compare with the peer funds listed here?
Its shorter-term return is much lower than the silver-focused peer funds in the table, while its 3-year and 5-year figures are also below the peer numbers shown where available. The fund follows a different return pattern, so the comparison is best read as a contrast in strategy rather than a simple like-for-like score.

Is there a minimum SIP amount?
Yes, the minimum SIP amount is ₹1,000.

What are the risk level, major holdings and exit load?
The fund is tagged as High Risk and is led by a large allocation to ICICI Prudential Nifty Private Bank ETF at 26.49%. Exit load is 1% on or before 15D, and nil after 15D.

Bottom line

ICICI Pru Multi Sector Passive FOF Direct Growth Plan looks stronger over medium and long horizons than over the latest 1-year stretch, and it has stayed ahead of Nifty 50 across the periods shown. The peer table tells a different short-term story because the listed peers are theme funds with much sharper recent gains, while this fund has followed a steadier compounding path. With a High Risk tag and a portfolio led by a large private-bank ETF position, it may suit patient investors who are comfortable with sector-led swings and want a differentiated long-term return pattern.

Published on 5 September 2026 at 3:37 PM IST