ICICI Pru NASDAQ 100 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 17, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan had a NAV of ₹24.1441 as of 15 Sep 2026, with AUM of ₹3,581 Cr. Its 1-year, 3-year and 5-year returns are 29.31%, 30.01% and 0%, respectively, and the scheme is tagged High Risk. Our view is that the fund has delivered strong medium-term gains, but the near-term pattern is softer than the 1-year and 3-year numbers, so it suits investors who can tolerate sharp swings and want overseas technology-led exposure rather than a steady domestic equity style.
The fund’s portfolio is concentrated in large global technology and internet names, which helps explain both the growth profile and the volatility. Compared with its NIFTY 50 benchmark, the fund has clearly outpaced the index over 1-year and 3-year periods, but recent weakness shows that the path has not been smooth.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹24.1441 as of 15 Sep 2026 |
| AUM | ₹3,581 Cr |
| Expense Ratio | 0.61% |
| Launch Date | 18 Oct 2021 |
| Min SIP | ₹100 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Index Funds |
| Exit Load | No exit load |
| Fund Managers | Sharmila Dsilva, Nitya Mishra, Venus Ahuja |
The fund is managed by Sharmila Dsilva, Nitya Mishra and Venus Ahuja.
Source data date: as of 15 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -3.19% | -4.41% |
| 3M | -0.95% | -3.6% |
| 1Y | 29.31% | -7.76% |
| 3Y | 30.01% | 5.74% |
| 5Y | Data not available | Data not available |
The recent picture is mixed, but not weak in relative terms. Over 1 month and 3 months, the fund has been negative, yet it still held up better than the benchmark in both periods, which suggests the overseas portfolio did not fall as sharply as the domestic index during the latest phase of pressure.
The more important story is the longer stretch. The 1-year return of 29.31% and the 3-year return of 30.01% are both well above the benchmark’s 1-year loss and 3-year gain, so the fund has created a meaningfully different result from the NIFTY 50 over these horizons. That gap tells us the scheme has been driven by a distinct set of companies and themes rather than by the same factors that move the benchmark.
The 1-year trend also looks better than the latest 1-month and 3-month numbers, so performance has cooled in the most recent phase. Even so, the fund’s recent dips are smaller than the benchmark’s, which indicates relative resilience even when the absolute return profile turns negative. For investors, that combination can matter: the fund has shown the ability to compound strongly over a 1-year and 3-year frame, but it has also shown that short-term reversals are part of the journey.
Source data date: as of 15 Sep 2026
Should you BUY or HOLD ICICI Pru NASDAQ 100 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 NASDAQ 100 Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| 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.
The fund stands ahead of the listed peers on 1-year return, and it also has a stronger 3-year figure than the only other peer with a 3-year number in this set. That makes the current and medium-term return profile look favourable in the available peer set.
The short-term story and the longer-term story do not fully match. The 1-year outcome is clearly strong, while the latest month and three-month numbers are softer, so recent momentum has not been uniform. Even so, the longer-term return pattern still appears more durable than the shorter pullback, especially when compared with the peer funds that disclose only 1-year figures.
Source data date: as of 15 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Nvidia Corporation | Overseas Equities | 8.52% |
| Apple Inc | Overseas Equities | 7.42% |
| Alphabet Inc | Overseas Equities | 6.07% |
| Microsoft Corp | Overseas Equities | 6.01% |
| Micron Technology Inc | Overseas Equities | 4.76% |
| Amazon Com | Overseas Equities | 4.46% |
| Advanced Micro Devices Inc | Overseas Equities | 3.38% |
| Tesla Inc | Overseas Equities | 2.93% |
| Broadcom Inc | Overseas Equities | 2.8% |
| Facebook Inc | Overseas Equities | 2.7% |
The top 10 holdings account for approximately 49.05% of the portfolio.
To see all holdings, visit the ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan page
The largest holding, Nvidia Corporation, carries an 8.52% weight, which is large enough to have a noticeable influence on near-term movement. The next few positions also remain meaningful, with Apple Inc at 7.42% and Alphabet Inc and Microsoft Corp both above 6%, so the fund’s outcome is likely to be shaped by a small cluster of large overseas technology names.
The decline from the first holding to the tenth is not extreme, but it is steady enough to show that the portfolio is not evenly spread across the top names. The top 10 together account for about 49.05% of the disclosed portfolio, so almost half the scheme sits in just ten holdings, while the total disclosed list runs to 43 holdings. That points to a fund that is diversified across many names, but still anchored by a relatively concentrated lead group.
For investors, that mix may matter more than the exact holding count. A longer tail of smaller positions can broaden exposure, but the biggest names are still likely to have greater influence on returns than the rest of the disclosed list.
Source data date: as of 15 Sep 2026
Who should invest
This fund is suited to investors who can accept High Risk and are comfortable with overseas equity volatility. The 1-year and 3-year numbers show that the strategy can build returns over time, but the latest 1-month and 3-month numbers also show that it can move down sharply in the short run.
The right horizon is likely to be longer rather than shorter, because the return pattern improves over 1-year and 3-year windows while remaining uneven in the most recent stretch. The main trade-off is straightforward: investors get exposure to a concentrated set of global growth companies, but they must be ready for benchmark divergence and sharp interim swings.
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 15 Sep 2026
Frequently asked questions
What is the current NAV of ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan?
Its NAV is ₹24.1441 as of 15 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year return is 29.31%, its 3-year return is 30.01%, and its 5-year return is 0.
How has the fund performed against its benchmark?
It has outperformed the NIFTY 50 over 1-year and 3-year periods. The benchmark return is -7.76% for 1 year and 5.74% for 3 years, while the fund’s returns are higher in both cases.
How does it compare with the peer funds listed here?
Its 1-year return is higher than the other listed peer funds, and its 3-year return is also stronger than the only peer in this set with a 3-year figure. The short-term picture is softer, but the available return data still looks strong.
What is the minimum SIP amount?
The minimum SIP amount is not stated here, so it is not appropriate to rely on a figure for this scheme page.
Who manages the fund, and what is the exit load?
The fund is managed by Sharmila Dsilva, Nitya Mishra and Venus Ahuja. The exit load is nil, so there is no exit load on sale.
Bottom line
This fund has a stronger 1-year and 3-year record than its recent month-by-month pattern suggests, so the medium-term story is better than the latest short-term softness. In the listed peer set, its return figures also compare favourably on the available data. The portfolio is led by a few large overseas technology names, which can support growth but also add concentration risk. That makes the scheme more suitable for investors who want overseas equity exposure and can stay patient through uneven periods.
Published on 17 September 2026 at 11:48 AM 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.