ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 17, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan is at ₹35.1304 as of 15 September 2026, with scheme AUM of ₹328 Cr. Its 1-year, 3-year and 5-year returns are 69.8%, 36.32% and 0%, and the fund sits in the High Risk category.
Our view is that this is a focused thematic fund for investors who can tolerate sharp swings and want exposure linked to metals and energy rather than a broad market style. The recent return profile is much stronger than the benchmark, but the portfolio is extremely concentrated, so the outcome is likely to depend heavily on the underlying overseas holding.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹35.1304 as of 15 Sep 2026 |
| AUM | ₹328 Cr |
| Expense Ratio | 0.6% |
| Launch Date | 02 Feb 2022 |
| Min SIP | ₹100 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Equity |
| Exit Load | 1% on or before 1Y, Nil after 1Y |
| Fund Managers | Sharmila Dsilva, Venus Ahuja |
The fund is managed by Sharmila Dsilva and Venus Ahuja.
Source data date: as of 15 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | 5.46% | -4.41% |
| 3M | 22.44% | -3.6% |
| 1Y | 69.8% | -7.76% |
| 3Y | 36.32% | 5.74% |
| 5Y | Data not available | Data not available |
The recent numbers are clearly strong. Over 1 month, 3 months and 1 year, the fund stayed well ahead of the benchmark, which was negative across the same windows. That tells us the fund’s current return cycle has been far better than a broad market reference point.
The longer view is more mixed, even though still positive. The 3-year return is 36.32%, which is well above the benchmark’s 5.74% over the same period, but the path has not been smooth. The time pattern shows a few sharp swings rather than a straight climb, so gains have come with clear volatility.
The 5-year figure is not available because the scheme has not been around long enough for a full 5-year return record. That matters for context: the fund has a short live history, so the strong recent run should be read as a recent phase rather than a long market cycle test.
In our view, the performance picture is strongest in the short and medium term. The benchmark comparison is also favourable, but the fund’s sharp movement pattern means return quality is tied to a narrow theme rather than broad diversification.
Source data date: as of 15 Sep 2026
Should you BUY or HOLD ICICI Pru Strategic Metal and Energy Equity 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 Strategic Metal and Energy Equity FoF? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| 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.
The fund’s 1-year return stands well above the other available peer figures, so the recent momentum looks distinctly stronger on a simple return basis. That said, the peer set shows mostly 1-year comparisons, and the current fund is the only one here with a meaningful 3-year figure, so the medium-term picture is harder to line up directly.
Where comparison is possible, the fund also holds a clear edge on 3-year performance against the benchmark, but the peer list does not give enough 3-year data for a like-for-like peer contrast. The short-term story is therefore stronger than the longer-term comparison set, while the available longer-term evidence still points to a fund that has compounded well since launch.
Source data date: as of 15 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| FSM First Trust Sme Equity Ucits Fund | Overseas Mutual Fund Units | 99.59% |
The portfolio is highly concentrated because the single disclosed holding accounts for 99.59% of assets. In absolute terms, that means almost the entire scheme is tied to one overseas mutual fund unit holding, which is likely to have greater influence on day-to-day movement than a more diversified basket would.
Because only one holding is disclosed, there is no drop-off from the largest holding to a tenth holding to compare. That itself is an important signal: the fund does not show a broad tail of positions in the disclosed portfolio list, so the exposure profile is narrow rather than spread out.
Given that the table contains the full disclosed holding set and the combined disclosed weight is 99.59%, our view is that this fund may behave more like a concentrated thematic wrapper than a diversified equity portfolio. That concentration could help when the underlying theme is strong, but it can also amplify weakness if that single underlying position turns lower.
Source data date: as of 15 Sep 2026
Who should invest
This fund suits investors who are comfortable with High Risk products and can stay invested through uneven short-term movement. The return pattern has been strong over 1 year and 3 years, but the benchmark comparison and the concentrated portfolio both show that the ride may be volatile.
We think the better fit is a medium-to-long horizon investor who wants a targeted metals-and-energy exposure rather than a broad equity core holding. The main trade-off is clear: higher upside potential in a strong theme, but less diversification and a greater chance that performance will swing sharply with the underlying exposure.
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% on or before 1Y, nil after 1Y.
Source data date: as of 15 Sep 2026
Frequently asked questions
What is the current NAV of ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan?
The current NAV is ₹35.1304 as of 15 September 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The 1-year return is 69.8%, the 3-year return is 36.32%, and the 5-year return is Data not available.
How has the fund performed versus the benchmark?
It has stayed ahead of the benchmark over 1 month, 3 months, 1 year and 3 years. The benchmark return has been negative over the shorter windows and 5.74% over 3 years.
How does it compare with the peer funds listed here?
Its 1-year return is higher than the other peer figures shown here. The peer table does not provide enough 3-year data for a full like-for-like comparison.
What is the exit load?
The exit load is 1% on or before 1 year and nil after 1 year.
Who manages the fund?
The fund is managed by Sharmila Dsilva and Venus Ahuja.
Bottom line
This fund’s recent return profile is much stronger than its benchmark, and the 3-year record also points to solid compounding since launch. The main caution is concentration: almost all disclosed assets sit in one overseas mutual fund unit, so the fund’s outcome will likely depend heavily on that single exposure. For investors who can handle High Risk and want a narrow thematic allocation rather than a diversified equity core, the fit is more specialised than mainstream.
Published on 17 September 2026 at 1:03 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.