ICICI Pru Nifty EV & New Age Automotive ETF FOF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 16, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
ICICI Pru Nifty EV & New Age Automotive ETF FOF Direct Growth Plan had a NAV of ₹11.8174 as of 15 Sep 2026 and scheme AUM of ₹53 Cr. Its 1-year, 3-year and 5-year returns are -1.34%, 0% and 0%, and the scheme sits in the High Risk category. Our view is that this fund suits investors who can tolerate sharp swings and are comfortable with a theme-led allocation rather than a broad market holding.
The portfolio is highly focused, with almost the entire corpus placed in a single underlying ETF. That makes the outcome closely tied to the EV and new-age automotive theme, so the fund is best viewed as a specialised satellite exposure rather than a core equity allocation.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹11.8174 as of 15 Sep 2026 |
| AUM | ₹53 Cr |
| Expense Ratio | 0.1% |
| Launch Date | 17 Apr 2025 |
| Min SIP | ₹1,000 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Others |
| 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 15 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -8.25% | -4.81% |
| 3M | 0.08% | -3.63% |
| 1Y | -1.34% | -8.27% |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
Recent behaviour has been uneven. The fund fell sharply over 1 month, then recovered enough to turn slightly positive over 3 months. That pattern suggests the NAV has moved around materially in the short run, which is typical of a theme-focused exposure.
Over 1 year, the fund is still negative at -1.34%, but it is materially ahead of the benchmark’s -8.27%. That tells us the scheme has been less weak than the benchmark over the same period, even though the absolute result remains below zero.
The short-term picture is better than the 1-month decline suggests, because the 3-month return has stabilised near flat. At the same time, there is no long history here to lean on for a 3-year or 5-year read, so we would avoid treating the recent improvement as proof of a lasting trend.
For investors, the main takeaway is that this fund has not tracked a smooth path. It has held up better than the benchmark over 1 year, but the recent monthly move shows the theme can still swing quickly in either direction.
Source data date: as of 15 Sep 2026
Should you BUY or HOLD ICICI Pru Nifty EV & New Age Automotive ETF FOF?
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 Nifty EV & New Age Automotive ETF FOF? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| ICICI Pru Nifty EV & New Age Automotive ETF FOF Direct Growth Plan | -1.34% | Data not available | Data not available |
| DSP Silver ETF FoF Direct Growth Plan | 79.99% | Data not available | Data not available |
| UTI Silver ETF FoF Direct Growth Plan | 78.79% | 44.94% | Data not available |
| Tata Silver ETF FoF Direct Growth Plan | 76.13% | Data not available | Data not available |
| ICICI Pru Silver ETF FoF Direct Growth Plan | 73.08% | 44.2% | Data not available |
| UTI Gold ETF FoF Direct Growth Plan | 38.25% | 36.06% | Data not available |
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 stronger peer figures shown here, which makes the recent softness clear when compared with funds in the same broad comparison set. On the other hand, the fund’s negative 1-year result still sits above the benchmark’s weaker 1-year reading, so it has not been as weak as the index proxy over the same period.
For longer horizons, the comparison is limited because 3-year and 5-year figures are not available for this fund. Among peers where longer data exists, the silver and gold FoF names show much firmer 3-year outcomes, while this fund cannot be compared on that basis yet. The short-term and longer-term peer picture therefore tell different stories: current momentum looks weak, but the absence of a track record keeps the longer-view judgement open.
Source data date: as of 15 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| ICICI Prudential Nifty Ev & New Age Automotive ETF | Domestic Mutual Funds Units | 99.97% |
With one disclosed holding at 99.97%, the fund is extremely concentrated. That single position is likely to have greater influence on returns than anything else in the portfolio, because there is no visible diversification across multiple holdings in the disclosed basket.
The gap from the largest holding to the rest is not just steep; there are no other disclosed holdings to absorb the impact. Since the total disclosed holdings count is one, the portfolio does not build a long tail of smaller positions that could soften the effect of a sharp move in the underlying ETF.
That structure makes this scheme more of a wrapper around one theme exposure than a diversified multi-holding fund. The combined disclosed weight is 99.97%, so the fund may move in close step with the underlying ETF and with sentiment around the EV and new-age automotive theme.
Source data date: as of 15 Sep 2026
Who should invest
This fund is suited to investors who are comfortable with High Risk exposure and who can tolerate sharp short-term swings. The 1-year result is negative, but it has still held up better than the benchmark over the same period, which suggests the theme has not been uniformly weak.
The lack of 3-year and 5-year fund history means it is better viewed as a niche allocation for a longer horizon rather than a short holding period product. The main trade-off is clear: you get concentrated exposure to a specific automotive theme, but you must accept that performance may be more volatile than a broad market fund.
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 Nifty EV & New Age Automotive ETF FOF Direct Growth Plan?
The current NAV is ₹11.8174 as of 15 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The 1-year return is -1.34%, while the 3-year and 5-year returns are Data not available.
How has the fund performed versus the benchmark?
Over 1 year, the fund is better than the benchmark because -1.34% is less weak than -8.27%. Over 3 months, the fund is slightly positive while the benchmark is negative.
How does this fund compare with the peer funds shown here?
Its 1-year return is much weaker than the peer funds listed here, while longer-term comparison is limited because this fund does not yet have 3-year or 5-year figures.
What is the fund’s risk category?
It is in the High Risk category and is suited to investors comfortable with sharp swings.
What does the portfolio look like?
The disclosed portfolio is highly concentrated, with ICICI Prudential Nifty Ev & New Age Automotive ETF carrying 99.97% weight. The fund has no exit load.
Bottom line
This is a concentrated thematic fund with a negative 1-year result, but it has still done better than the benchmark over the same period. The short-term path has been choppy, and the lack of 3-year or 5-year fund history limits how much of a longer-cycle judgement we can make. Compared with the peer funds shown here, the recent return is much weaker. Investors who want a narrow EV and new-age automotive exposure and can accept High Risk behaviour may find the structure relevant.
Published on 16 September 2026 at 4:11 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.