ICICI Pru Active Momentum Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

ICICI Pru Active Momentum Fund Direct Growth Plan is at ₹10.7 as of 16 September 2026, with an AUM of ₹2,162 Cr. Its 1-year, 3-year and 5-year returns are 5.11%, Data not available and Data not available, and the scheme sits in the Medium Risk bucket.

Our view is that this is a relatively new equity scheme, launched in July 2025, so the available record is still short. The recent return profile is modest against the benchmark, and the portfolio mixes cash, financials, consumer names and auto-linked stocks, so the fund may suit investors who can accept some variation in outcomes rather than those seeking a smooth near-term track record.

Quick facts

Particular	Details
NAV	₹10.7 as of 16 Sep 2026
AUM	₹2,162 Cr
Expense Ratio	0.97%
Launch Date	25 Jul 2025
Min SIP	₹100
Risk Category	Medium Risk
Benchmark	Nifty 50
Exit Load	1% on or before 12M, Nil after 12M
Fund Managers	Manasvi Shah, Sharmila Dsilva

The fund is managed by Manasvi Shah and Sharmila Dsilva.

Source data date: as of 16 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-4.55%	-4.41%
3M	-1.92%	-3.6%
1Y	5.11%	-7.76%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The recent pattern has been uneven. Over 1 month, the fund was slightly weaker than the benchmark, which tells us the latest stretch was not a clean defensive phase. Over 3 months, it held up better than the benchmark, even though both were negative, so the fund has shown some resilience during a choppy period.

The 1-year figure is more constructive. The fund is positive over that horizon while the benchmark is negative, which suggests the scheme added value through the broader market decline and recovery phases seen in the shorter trend data. That said, the one-year record is still short for drawing firm conclusions about consistency.

We do not have meaningful 3-year or 5-year figures here, because the fund has not been in market long enough. That makes the shorter-term pattern especially important, and it also means the recent outperformance against the benchmark should be read as early evidence rather than a settled long-term profile.

Overall, the fund has behaved differently from the benchmark in the 1-year period, but the latest month has been softer. That combination points to a scheme that can participate in rebounds, yet may still experience drawdowns when market sentiment turns quickly.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD ICICI Pru Active Momentum?

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.

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Peer comparison

Fund	1Y return	3Y return	5Y return
ICICI Pru Active Momentum Fund Direct Growth Plan	5.11%	Data not available	Data not available
Baroda BNP Paribas Gold ETF FoF Direct Growth Plan	34.39%	Data not available	Data not available
HDFC Innovation Fund Direct Growth Plan	14.3%	Data not available	Data not available
Bajaj Finserv Small Cap Fund Direct Growth Plan	13.33%	Data not available	Data not available
Quant Equity Savings Fund Direct Growth Plan	8.75%	Data not available	Data not available
Kotak Active Momentum Fund Direct Growth Plan	6.31%	Data not available	Data not available

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

On 1-year numbers, the fund trails several of the listed peers, including Kotak Active Momentum Fund Direct Growth Plan, HDFC Innovation Fund Direct Growth Plan and Bajaj Finserv Small Cap Fund Direct Growth Plan. That said, the comparison is limited because all listed peers also lack 3-year and 5-year figures here, so there is no clean long-term peer split to lean on.

The short-term story is therefore mixed rather than decisive. The fund has a positive 1-year return and has held up better than the benchmark over that period, but the peer set shows stronger one-year outcomes in several other schemes. For an investor, that means recent competitiveness is present, yet it is not broad-based across the peer list.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
TREPS	Cash & Cash Equivalents and Net Assets	4.92%
Samvardhana Motherson International Ltd.	Automobile & Ancillaries	3.92%
Mahindra & Mahindra Ltd.	Automobile & Ancillaries	3.86%
Axis Bank Ltd.	Bank	3.37%
Titan Company Ltd.	Diamond & Jewellery	3.02%
Nippon Life India Asset Management Ltd	Finance	2.85%
SPR Auto Technologies Ltd.	Automobile & Ancillaries	2.78%
Bajaj Finance Ltd.	Finance	2.68%
Radico Khaitan Ltd.	Alcohol	2.68%
Eternal Ltd.	Retailing	2.61%

The single largest holding, TREPS, is 4.92%, which keeps the cash-like allocation visible but not dominant. The tenth holding is 2.61%, so the drop from the largest position to the tenth is fairly controlled rather than extreme.

The top 10 holdings together account for approximately 32.69% of the portfolio, while the scheme discloses 46 holdings in total. That combination suggests a reasonably spread portfolio with a meaningful longer tail, even though a handful of positions still have enough size to matter at the margin.

Among the top positions, automobile and ancillary exposure appears multiple times, alongside financials, a bank, a consumer name and a retailing stock. That mix may make the fund’s outcome more sensitive to stock selection across a few cyclical and domestic-consumption themes, while the broader tail can moderate the influence of any single holding.

To see all holdings, visit the ICICI Pru Active Momentum Fund Direct Growth Plan page

Source data date: as of 16 Sep 2026

Who should invest

This fund suits investors who are comfortable with Medium Risk and who can stay invested long enough to let an active equity approach work through short-term swings. The 1-year record is positive, but the latest month and 3-month stretch show that returns can still fluctuate meaningfully.

The main trade-off is that the fund has shown some ability to stay ahead of the benchmark over 1 year, yet the record is still short and peer one-year outcomes are stronger in several cases. Investors who want a smoother, more established long-term record may want more evidence, while those who can accept variability in exchange for active stock selection may find the profile more relevant.

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% if units are sold within 12 months; nil after 12 months.

Source data date: as of 16 Sep 2026

Frequently asked questions

What is the current NAV of ICICI Pru Active Momentum Fund Direct Growth Plan?
It is ₹10.7 as of 16 September 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The 1-year return is 5.11%. The 3-year and 5-year returns are Data not available because the scheme’s live history is still short.

How has it performed against the benchmark?
It has done better than Nifty 50 over 1 year, with 5.11% versus -7.76%. Over 1 month, it was slightly weaker than the benchmark, while over 3 months it was less negative.

How does it compare with the peer funds listed here?
Its 1-year return is below several of the listed peers, including Baroda BNP Paribas Gold ETF FoF Direct Growth Plan, HDFC Innovation Fund Direct Growth Plan and Bajaj Finserv Small Cap Fund Direct Growth Plan.

What is the minimum SIP amount?
The minimum SIP amount is ₹100.

Who manages the fund and what is the exit load?
The fund is managed by Manasvi Shah and Sharmila Dsilva. The exit load is 1% if units are sold within 12 months, and nil after 12 months.

Bottom line

ICICI Pru Active Momentum Fund Direct Growth Plan has a short but mixed record: the 1-year return is positive and ahead of the benchmark, yet the latest month is weaker and several peers show stronger one-year numbers. The fund is Medium Risk, and its portfolio is spread across 46 holdings with a notable presence in auto-linked, financial and consumer names. That makes it more suitable for investors who can accept short-term variability and want an actively managed equity allocation rather than a settled long-term track record.

Published on 17 September 2026 at 9:53 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.