{"id":247662,"date":"2026-09-16T08:13:46","date_gmt":"2026-09-16T02:43:46","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/icici-pru-equity-minimum-variance-fund-direct-growth-review-2026\/"},"modified":"2026-09-16T08:13:46","modified_gmt":"2026-09-16T02:43:46","slug":"icici-pru-equity-minimum-variance-fund-direct-growth-review-2026","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/icici-pru-equity-minimum-variance-fund-direct-growth-review-2026\/","title":{"rendered":"ICICI Pru Equity Minimum Variance Fund Direct Growth Review 2026: NAV, Returns, Portfolio &#038; Should You Invest?"},"content":{"rendered":"<p><a href=\"https:\/\/univest.in\/mutual-funds\/icici-pru-equity-minimum-variance-fund-g-direct-plan\">ICICI Pru Equity Minimum Variance Fund Direct Growth Plan<\/a> is a High Risk equity fund with a NAV of \u20b910.36 as of 15 Sep 2026 and scheme AUM of \u20b92,671 Cr. Its 1-year, 3-year and 5-year returns are -1.96%, 0% and 0%. Our view is that the fund has shown a mixed short-term profile, with recent weakness but a portfolio style that may appeal to investors looking for a comparatively disciplined equity allocation rather than a fast-moving theme.<\/p>\n<p>The fund sits below a plain-market benchmark on the latest 1-year figure and has not yet built a longer public return history beyond that. With a 0.71% expense ratio and a high-risk profile, it looks better suited to investors who can tolerate volatility and are willing to hold through uneven stretches.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/icici-pru-equity-minimum-variance-fund-direct-growth-review-2026\/#Quick_facts\" title=\"Quick facts\">Quick facts<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/icici-pru-equity-minimum-variance-fund-direct-growth-review-2026\/#Performance\" title=\"Performance\">Performance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/icici-pru-equity-minimum-variance-fund-direct-growth-review-2026\/#Should_you_BUY_or_HOLD_ICICI_Pru_Equity_Minimum_Variance\" title=\"Should you BUY or HOLD ICICI Pru Equity Minimum Variance?\">Should you BUY or HOLD ICICI Pru Equity Minimum Variance?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/icici-pru-equity-minimum-variance-fund-direct-growth-review-2026\/#Peer_comparison\" title=\"Peer comparison\">Peer comparison<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/icici-pru-equity-minimum-variance-fund-direct-growth-review-2026\/#Portfolio_where_your_money_goes\" title=\"Portfolio: where your money goes\">Portfolio: where your money goes<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/icici-pru-equity-minimum-variance-fund-direct-growth-review-2026\/#Who_should_invest\" title=\"Who should invest\">Who should invest<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/icici-pru-equity-minimum-variance-fund-direct-growth-review-2026\/#Tax_and_exit_load\" title=\"Tax and exit load\">Tax and exit load<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/icici-pru-equity-minimum-variance-fund-direct-growth-review-2026\/#Frequently_asked_questions\" title=\"Frequently asked questions\">Frequently asked questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/icici-pru-equity-minimum-variance-fund-direct-growth-review-2026\/#What_is_the_current_NAV_of_ICICI_Pru_Equity_Minimum_Variance_Fund_Direct_Growth_Plan\" title=\"What is the current NAV of ICICI Pru Equity Minimum Variance Fund Direct Growth Plan?\">What is the current NAV of ICICI Pru Equity Minimum Variance Fund Direct Growth Plan?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/icici-pru-equity-minimum-variance-fund-direct-growth-review-2026\/#What_are_the_funds_1-year_3-year_and_5-year_returns\" title=\"What are the fund\u2019s 1-year, 3-year and 5-year returns?\">What are the fund\u2019s 1-year, 3-year and 5-year returns?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/icici-pru-equity-minimum-variance-fund-direct-growth-review-2026\/#How_has_the_fund_done_versus_Nifty_50_recently\" title=\"How has the fund done versus Nifty 50 recently?\">How has the fund done versus Nifty 50 recently?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/icici-pru-equity-minimum-variance-fund-direct-growth-review-2026\/#How_does_it_compare_with_the_listed_peer_funds_on_recent_returns\" title=\"How does it compare with the listed peer funds on recent returns?\">How does it compare with the listed peer funds on recent returns?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/icici-pru-equity-minimum-variance-fund-direct-growth-review-2026\/#What_is_the_minimum_SIP_amount\" title=\"What is the minimum SIP amount?\">What is the minimum SIP amount?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/icici-pru-equity-minimum-variance-fund-direct-growth-review-2026\/#Who_manages_the_fund_and_what_is_the_exit_load\" title=\"Who manages the fund and what is the exit load?\">Who manages the fund and what is the exit load?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/icici-pru-equity-minimum-variance-fund-direct-growth-review-2026\/#Explore_mutual_funds_with_Univest\" title=\"Explore mutual funds with Univest\">Explore mutual funds with Univest<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/icici-pru-equity-minimum-variance-fund-direct-growth-review-2026\/#RIA_disclosure\" title=\"RIA disclosure\">RIA disclosure<\/a><\/li><\/ul><\/nav><\/div>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Quick_facts\"><\/span>Quick facts<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Particular<\/th>\n<th>Details<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>NAV<\/td>\n<td>\u20b910.36 as of 15 Sep 2026<\/td>\n<\/tr>\n<tr>\n<td>AUM<\/td>\n<td>\u20b92,671 Cr<\/td>\n<\/tr>\n<tr>\n<td>Expense Ratio<\/td>\n<td>0.71%<\/td>\n<\/tr>\n<tr>\n<td>Launch Date<\/td>\n<td>06 Dec 2024<\/td>\n<\/tr>\n<tr>\n<td>Min SIP<\/td>\n<td>\u20b9100<\/td>\n<\/tr>\n<tr>\n<td>Risk Category<\/td>\n<td>High Risk<\/td>\n<\/tr>\n<tr>\n<td>Benchmark<\/td>\n<td>Nifty 50<\/td>\n<\/tr>\n<tr>\n<td>Fund Category<\/td>\n<td>Equity<\/td>\n<\/tr>\n<tr>\n<td>Exit Load<\/td>\n<td>1% on or before 12M, Nil after 12M<\/td>\n<\/tr>\n<tr>\n<td>Fund Managers<\/td>\n<td>Aatur Shah, Nitya Mishra<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The fund is managed by Aatur Shah and Nitya Mishra.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 15 Sep 2026<\/small><\/p>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Performance\"><\/span>Performance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Period<\/th>\n<th>Fund return<\/th>\n<th>Benchmark return<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>1M<\/td>\n<td>-4.07%<\/td>\n<td>-4.81%<\/td>\n<\/tr>\n<tr>\n<td>3M<\/td>\n<td>-3.27%<\/td>\n<td>-3.63%<\/td>\n<\/tr>\n<tr>\n<td>1Y<\/td>\n<td>-1.96%<\/td>\n<td>-8.27%<\/td>\n<\/tr>\n<tr>\n<td>3Y<\/td>\n<td>Data not available<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<tr>\n<td>5Y<\/td>\n<td>Data not available<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The latest 1-month and 3-month readings show a soft patch, but the fund has still held up a little better than the benchmark over both periods. That matters because the benchmark itself has been weak, yet the fund has lost slightly less ground in the most recent windows.<\/p>\n<p>The 1-year figure is the most useful anchor for now. At -1.96%, the fund is still negative, but it has stayed well ahead of the benchmark\u2019s -8.27% decline over the same period. That gap suggests the fund has been more resilient than the market reference, even though it has not yet produced a positive trailing year.<\/p>\n<p>The time pattern is uneven rather than smooth. The fund had a period of recovery after earlier weakness, then softened again, which tells us the path has been volatile and not a straight compounding line. For an investor, that means the fund may be trying to control drawdowns better than the broad market, but the trade-off is that short stretches can still be choppy.<\/p>\n<p>Because the scheme was launched in December 2024, there is not yet a public 3-year or 5-year return record to judge longer compounding. That makes the recent 1-year comparison and the internal consistency of the shorter windows more important than a longer history would be.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 15 Sep 2026<\/small><\/p>\n<section class=\"univest-mf-premium-cta\" style=\"margin:28px 0;padding:24px;border-radius:10px;border:1px solid #d8e3f0;background:#f7faff\">\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Should_you_BUY_or_HOLD_ICICI_Pru_Equity_Minimum_Variance\"><\/span>Should you BUY or HOLD ICICI Pru Equity Minimum Variance?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A fund&#8217;s past returns alone don&#8217;t tell you whether you should buy it today or continue holding it.<\/p>\n<p>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.<\/p>\n<p><strong>Already holding ICICI Pru Equity Minimum Variance? Thinking of investing now?<\/strong><\/p>\n<p><a href=\"https:\/\/univest.in\/mutual-funds\" style=\"font-weight:700;text-decoration:none\">Get your portfolio analysed for FREE by SEBI-registered Investment Adviser (RIA) through Univest MF Premium<\/a><\/p>\n<\/section>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Peer_comparison\"><\/span>Peer comparison<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Fund<\/th>\n<th>1Y return<\/th>\n<th>3Y return<\/th>\n<th>5Y return<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/icici-pru-equity-minimum-variance-fund-g-direct-plan\">ICICI Pru Equity Minimum Variance Fund Direct Growth Plan<\/a><\/td>\n<td>-1.96%<\/td>\n<td>Data not available<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/icici-pru-strategic-metal-and-energy-equity-fof-g-direct-plan\">ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan<\/a><\/td>\n<td>69.16%<\/td>\n<td>37.12%<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/motilal-oswal-active-momentum-fund-g-direct-plan\">Motilal Oswal Active Momentum Fund Direct Growth Plan<\/a><\/td>\n<td>30.67%<\/td>\n<td>Data not available<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/kotak-healthcare-fund-g-direct-plan\">Kotak Healthcare Fund Direct Growth Plan<\/a><\/td>\n<td>28.09%<\/td>\n<td>Data not available<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/hdfc-pharma-and-healthcare-fund-g-direct-plan\">HDFC Pharma and Healthcare Fund Direct Growth Plan<\/a><\/td>\n<td>27.47%<\/td>\n<td>Data not available<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/sbi-automotive-opportunities-fund-g-direct-plan\">SBI Automotive Opportunities Fund Direct Growth Plan<\/a><\/td>\n<td>27.05%<\/td>\n<td>Data not available<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On the latest 1-year view, the fund trails the stronger peer return figures by a wide margin, while still remaining ahead of the benchmark. That creates a split picture: the fund has not matched the strongest recent peer gains, but it has been more defensive than the benchmark reference over the same period.<\/p>\n<p>The longer-term peer comparison is less informative because only one peer in this set has a 3-year figure available, and the current fund itself does not yet have a 3-year or 5-year history. Even so, the available numbers show that the fund\u2019s recent return profile is more conservative than the higher-growth peers in this table.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 15 Sep 2026<\/small><\/p>\n<div class=\"univest-peer-login-cta\" style=\"margin:20px 0;padding:16px 18px;border:1px solid #d8e3f0;border-radius:8px;background:#f7faff\">\n<p style=\"margin:0\"><strong>Want to know more?<\/strong> <a href=\"https:\/\/univest.in\/user\/log-in\" style=\"font-weight:700;text-decoration:none\">Log in to Univest<\/a> for more mutual fund insights.<\/p>\n<\/div>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Portfolio_where_your_money_goes\"><\/span>Portfolio: where your money goes<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Holding<\/th>\n<th>Sector<\/th>\n<th>Weight<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Reliance Industries Ltd.<\/td>\n<td>Crude Oil<\/td>\n<td>9.56%<\/td>\n<\/tr>\n<tr>\n<td>Axis Bank Ltd.<\/td>\n<td>Bank<\/td>\n<td>9.24%<\/td>\n<\/tr>\n<tr>\n<td>Kotak Mahindra Bank Ltd.<\/td>\n<td>Bank<\/td>\n<td>8.95%<\/td>\n<\/tr>\n<tr>\n<td>TREPS<\/td>\n<td>Cash &#038; Cash Equivalents and Net Assets<\/td>\n<td>8.25%<\/td>\n<\/tr>\n<tr>\n<td>State Bank of India<\/td>\n<td>Bank<\/td>\n<td>7.14%<\/td>\n<\/tr>\n<tr>\n<td>HDFC Bank Ltd.<\/td>\n<td>Bank<\/td>\n<td>6.63%<\/td>\n<\/tr>\n<tr>\n<td>Larsen &amp; Toubro Ltd.<\/td>\n<td>Infrastructure<\/td>\n<td>5.08%<\/td>\n<\/tr>\n<tr>\n<td>ITC Ltd.<\/td>\n<td>FMCG<\/td>\n<td>4.3%<\/td>\n<\/tr>\n<tr>\n<td>Asian Paints Ltd.<\/td>\n<td>Chemicals<\/td>\n<td>4.17%<\/td>\n<\/tr>\n<tr>\n<td>Hindustan Unilever Ltd.<\/td>\n<td>FMCG<\/td>\n<td>4.16%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The largest disclosed holding is Reliance Industries Ltd. at 9.56%, which is large enough to matter but not so dominant that it defines the whole portfolio on its own. The tenth holding, Hindustan Unilever Ltd. at 4.16%, is still meaningful, so the drop from the largest name to the tenth is noticeable but not extreme.<\/p>\n<p>The top ten holdings together account for approximately 67.48% of the portfolio, and the fund has 29 disclosed holdings in total. That combination points to a portfolio that is still fairly concentrated in its main positions, while leaving a longer tail of other holdings to complete the picture. In our view, the weight profile may mean the portfolio is more sensitive to a handful of large positions, yet it is not concentrated to the point of relying on just one or two names.<\/p>\n<p>To see all holdings, visit the <a href=\"https:\/\/univest.in\/mutual-funds\/icici-pru-equity-minimum-variance-fund-g-direct-plan\">ICICI Pru Equity Minimum Variance Fund Direct Growth Plan<\/a> page<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 15 Sep 2026<\/small><\/p>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Who_should_invest\"><\/span>Who should invest<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>This fund may suit investors who are comfortable with High Risk equity exposure and can stay invested through short stretches of weakness. The recent return pattern is mixed, but the fund has stayed ahead of its benchmark over the latest 1-year window, which suggests it has been more resilient than the market reference even while remaining negative.<\/p>\n<p>A longer investment horizon matters here because short-term swings have been visible and the scheme does not yet have a long public track record. Investors who want a calmer equity experience or who need predictable near-term outcomes may find the return pattern too uneven. The main trade-off is between seeking a more controlled equity path and accepting that the fund can still lag in strong peer-led momentum periods.<\/p>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Tax_and_exit_load\"><\/span>Tax and exit load<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Holding period<\/th>\n<th>Tax rate<\/th>\n<th>Description<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Units held less than 1 year<\/td>\n<td>20%<\/td>\n<td>Short-term capital gains tax<\/td>\n<\/tr>\n<tr>\n<td>Units held more than 1 year<\/td>\n<td>12.5%<\/td>\n<td>Long-term capital gains tax<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Exit load: 1% if units are sold on or before 12 months; no exit load after that holding period.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 15 Sep 2026<\/small><\/p>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Frequently_asked_questions\"><\/span>Frequently asked questions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"What_is_the_current_NAV_of_ICICI_Pru_Equity_Minimum_Variance_Fund_Direct_Growth_Plan\"><\/span>What is the current NAV of ICICI Pru Equity Minimum Variance Fund Direct Growth Plan?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The current NAV is \u20b910.36 as of 15 Sep 2026.<\/p>\n<h3 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"What_are_the_funds_1-year_3-year_and_5-year_returns\"><\/span>What are the fund\u2019s 1-year, 3-year and 5-year returns?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Its 1-year return is -1.96%, while the 3-year and 5-year returns are not yet available.<\/p>\n<h3 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"How_has_the_fund_done_versus_Nifty_50_recently\"><\/span>How has the fund done versus Nifty 50 recently?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>It has been ahead of Nifty 50 over the latest 1-month, 3-month and 1-year periods. The 1-year return is -1.96% versus -8.27% for the benchmark.<\/p>\n<h3 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"How_does_it_compare_with_the_listed_peer_funds_on_recent_returns\"><\/span>How does it compare with the listed peer funds on recent returns?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Its latest 1-year return is lower than the peer funds shown here, while the available benchmark comparison still shows a better outcome than Nifty 50. The peer table also includes one fund with a 3-year return of 37.12%.<\/p>\n<h3 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"What_is_the_minimum_SIP_amount\"><\/span>What is the minimum SIP amount?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The minimum SIP amount is \u20b9100.<\/p>\n<h3 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Who_manages_the_fund_and_what_is_the_exit_load\"><\/span>Who manages the fund and what is the exit load?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The fund is managed by Aatur Shah and Nitya Mishra. The exit load is 1% if units are sold on or before 12 months, and nil after that period.<\/p>\n<p class=\"univest-posted-at\" style=\"font-size:14px;color:#666;margin:20px 0 8px\">Published on 16 September 2026 at 8:12 AM IST<\/p>\n<section class=\"univest-login-cta\" style=\"margin:28px 0;padding:24px;border-radius:10px;background:#eef5ff;border:1px solid #cddff7;text-align:center\">\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Explore_mutual_funds_with_Univest\"><\/span>Explore mutual funds with Univest<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Review mutual fund data, compare performance and explore fund insights on Univest.<\/p>\n<p><a href=\"https:\/\/univest.in\/user\/log-in\" style=\"display:inline-block;padding:11px 20px;border-radius:6px;background:#1f4e79;color:#fff !important;text-decoration:none;font-weight:700\">Explore Univest<\/a><\/p>\n<\/section>\n<section class=\"univest-disclaimer\">\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"RIA_disclosure\"><\/span>RIA disclosure<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>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.<\/p>\n<\/section>\n<p><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"InvestmentFund\",\"name\":\"ICICI Pru Equity Minimum Variance Fund Direct Growth Plan\",\"identifier\":\"icici-pru-equity-minimum-variance-fund-g-direct-plan\",\"category\":\"Equity\",\"dateCreated\":\"06 Dec 2024\",\"isAccessibleForFree\":true,\"additionalProperty\":[{\"@type\":\"PropertyValue\",\"name\":\"NAV\",\"value\":10.36,\"valueReference\":\"as of 15 Sep 2026\"},{\"@type\":\"PropertyValue\",\"name\":\"AUM\",\"value\":\"2671 Cr\"},{\"@type\":\"PropertyValue\",\"name\":\"Expense Ratio\",\"value\":\"0.71\"},{\"@type\":\"PropertyValue\",\"name\":\"Benchmark\",\"value\":\"Nifty 50\"},{\"@type\":\"PropertyValue\",\"name\":\"1Y Return\",\"value\":-1.96},{\"@type\":\"PropertyValue\",\"name\":\"3Y Return\",\"value\":0},{\"@type\":\"PropertyValue\",\"name\":\"5Y Return\",\"value\":0},{\"@type\":\"PropertyValue\",\"name\":\"Fund Managers\",\"value\":\"Aatur Shah, Nitya Mishra\"}]}<\/script><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What is the current NAV of ICICI Pru Equity Minimum Variance Fund Direct Growth Plan?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The current NAV is \u20b910.36 as of 15 Sep 2026.\"}},{\"@type\":\"Question\",\"name\":\"What are the fund\u2019s 1-year, 3-year and 5-year returns?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Its 1-year return is -1.96%, while the 3-year and 5-year returns are not yet available.\"}},{\"@type\":\"Question\",\"name\":\"How has the fund done versus Nifty 50 recently?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"It has been ahead of Nifty 50 over the latest 1-month, 3-month and 1-year periods. The 1-year return is -1.96% versus -8.27% for the benchmark.\"}},{\"@type\":\"Question\",\"name\":\"How does it compare with the listed peer funds on recent returns?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Its latest 1-year return is lower than the peer funds shown here, while the available benchmark comparison still shows a better outcome than Nifty 50. The peer table also includes one fund with a 3-year return of 37.12%.\"}},{\"@type\":\"Question\",\"name\":\"What is the minimum SIP amount?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The minimum SIP amount is \u20b9100.\"}},{\"@type\":\"Question\",\"name\":\"Who manages the fund and what is the exit load?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The fund is managed by Aatur Shah and Nitya Mishra. The exit load is 1% if units are sold on or before 12 months, and nil after that period.\"}}]}<\/script><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"Organization\",\"name\":\"Uniapps Investment Adviser Pvt. Ltd.\",\"description\":\"SEBI Registered Investment Adviser INA000017639\"}<\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>ICICI Pru Equity Minimum Variance Fund Direct Growth Plan has a NAV of \u20b910.36 as of 15 Sep 2026, AUM of \u20b92,671 Cr, and a 1-year return of -1.96%.<\/p>\n","protected":false},"author":38,"featured_media":247661,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3841],"tags":[],"class_list":["post-247662","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mutual-funds"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["247661"],"rank_math_title":["ICICI Pru Equity Minimum Variance Fund Review"],"rank_math_description":["ICICI Pru Equity Minimum Variance Fund Direct Growth Plan review: NAV \u20b910.36, 1Y return -1.96%, High Risk equity fund."],"rank_math_focus_keyword":["ICICI Pru Equity Minimum Variance Fund Direct Growth Plan review"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/09\/ICICI_Pru_Equity_Minimum_Variance_Fund_Direct_Growth_Review_2026_NAV_Returns_Portfolio_Should_You_Invest_neutral.png","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/247662","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/38"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=247662"}],"version-history":[{"count":0,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/247662\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/247661"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=247662"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=247662"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=247662"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}