ICICI Pru Aggressive Hybrid Active FOF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

ICICI Pru Aggressive Hybrid Active FOF Direct Growth Plan has a NAV of ₹244.1686 as of 08 Sep 2026 and a scheme AUM of ₹9,431 Cr. Its 1-year, 3-year and 5-year returns are 1.92%, 13.88% and 13.77%, respectively, and the scheme is tagged High Risk. Our view is that it suits investors who can tolerate sharp swings and want exposure to an actively constructed fund-of-funds structure rather than a plain benchmark-like return path.

The fund has delivered a stronger long-run return profile than its short-term outcome suggests, but the recent 1-year number is subdued versus its own 3-year and 5-year history. That mix can work for investors with a longer horizon and comfort with uneven periods, especially because the portfolio is built through concentrated allocations to underlying ICICI Prudential funds across equity and debt themes.

Quick facts

Particular	Details
NAV	₹244.1686 as of 08 Sep 2026
AUM	₹9,431 Cr
Expense Ratio	0.21%
Launch Date	04 Apr 2013
Min SIP	₹1,000
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Fund of Fund
Exit Load	1% on or before 1Y, NIL After 1Y
Fund Managers	Dharmesh Kakkad, Manish Banthia, Ritesh Lunawat

The fund is managed by Dharmesh Kakkad, Manish Banthia and Ritesh Lunawat.

Source data date: as of 08 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-1.97%	-4.69%
3M	4.75%	0.93%
1Y	1.92%	-7.16%
3Y	13.88%	6%
5Y	13.77%	5.87%

Recent performance is mixed. The fund declined over the latest month, but it still did better than the benchmark over the same window because the benchmark fell more sharply. Over three months, the fund recovered more strongly than the benchmark, which supports the view that the recent patch has been better than the weakest month would suggest.

The broader pattern is more constructive. The 1-year return is modest at 1.92%, yet the 3-year and 5-year returns are both in the mid-teens and clearly ahead of the benchmark. That tells us the fund has not been a smooth performer, but it has compounded better than the index over longer stretches.

The time pattern also shows that the path has not been one-way. There have been stretches of recovery followed by pullbacks, which is consistent with a high-risk structure that can move around meaningfully before settling into stronger long-term gains. For investors, that means short-term readings may understate the fund’s longer-run potential, but they also remind us that the journey can be uneven.

Against the benchmark, the fund is ahead in every listed period except the recent one-month comparison still remains less negative than the benchmark. The gap is most visible over 3 years and 5 years, where the fund’s returns are more than double the benchmark’s levels. That makes the long-term case more convincing than the latest 12-month outcome alone.

Source data date: as of 08 Sep 2026

Should you BUY or HOLD ICICI Pru Aggressive Hybrid Active 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.

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Peer comparison

Fund	1Y return	3Y return	5Y return
ICICI Pru Aggressive Hybrid Active FOF Direct Growth Plan	1.92%	13.88%	13.77%
SBI Silver ETF FOF Direct Growth Plan	84.9%	Data not available	Data not available
Kotak Silver ETF FoF Direct Growth Plan	84.03%	46.21%	Data not available
Nippon India Silver ETF FOF Direct Growth Plan	83.29%	46.02%	Data not available
Zerodha Silver ETF FoF Direct Growth Plan	82.53%	Data not available	Data not available
Aditya Birla SL Silver ETF FOF Direct Growth Plan	82.46%	45.91%	Data not available

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

The current fund’s 1-year return is far below the listed peer returns, which are clustered in the low-80% range for the silver ETF FoF names. That is a meaningful contrast, but it needs context: those peer funds belong to a very different return pattern and the current scheme has a more balanced multi-asset structure.

On longer horizons, the current fund’s 3-year and 5-year returns are below the available silver ETF FoF peer figures in this small comparison set, though many of those peer rows do not have 5-year figures at all. The cleaner comparison is that the current fund has shown steadier multi-year compounding than its weak 1-year number suggests, while the peer set shows much stronger recent one-year outcomes.

So the short-term and longer-term stories differ. The current fund does not match the recent surge seen in the peer names, but it does show a more established long-term record across both 3-year and 5-year periods. That makes the comparison more about return pattern and structure than a single recent number.

Source data date: as of 08 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
ICICI Prudential Banking and Financial Services Fund – Direct – Growth	Domestic Mutual Funds Units	27.88%
ICICI Prudential Technology Fund – Direct – Growth	Domestic Mutual Funds Units	19.28%
ICICI Prudential Bharat Consumption Fund – Direct – Growth	Domestic Mutual Funds Units	8.44%
ICICI Prudential Pharma Healthcare and Diagnostics (P.H.D) Fund – Direct Plan – Growth	Domestic Mutual Funds Units	7.08%
ICICI Prudential Transportation & Logistic Fund – Direct Plan – Growth	Domestic Mutual Funds Units	7.08%
ICICI Prudential Gilt Fund – Direct Plan – Growth	Domestic Mutual Funds Units	7.05%
ICICI Prudential Corporate Bond Fund- Direct Plan – Growth	Domestic Mutual Funds Units	6.01%
ICICI Prudential Rural Opportunities Fund – Direct Plan – Growth	Domestic Mutual Funds Units	5.44%
ICICI Prudential Savings Fund – Direct – Growth	Domestic Mutual Funds Units	5.06%
ICICI Prudential FMCG Fund – Direct Plan – Growth	Domestic Mutual Funds Units	3.86%

The top 10 holdings account for approximately 97.18% of the portfolio.

To see all holdings, visit the ICICI Pru Aggressive Hybrid Active FOF Direct Growth Plan page

The largest holding is 27.88%, so the portfolio is likely to have greater influence from that single underlying fund than from any other individual line. The next two holdings at 19.28% and 8.44% still carry meaningful weight, which means the top end of the portfolio is dominated by a handful of underlying funds rather than spread evenly.

The drop from the first holding to the tenth, which is 3.86%, is fairly steep. That matters because it suggests that performance drivers may be concentrated among the larger underlying positions, especially the banking, technology and consumption exposures that appear near the top.

At the same time, the disclosed holdings are not just a narrow two- or three-line structure. The top 10 disclosed positions sum to 97.18% across 12 disclosed holdings, so the long tail is limited in the article-safe list, but the distribution still shows a layered structure with several mid-sized allocations after the two largest ones.

Source data date: as of 08 Sep 2026

Who should invest

This fund fits investors who can accept High Risk and are comfortable with a return path that may look weak over shorter windows before improving over longer periods. The 1-year result is subdued, but the 3-year and 5-year figures are much healthier and better than the benchmark, so the holding period matters.

It is more suitable for a longer horizon than for a short tactical allocation. The trade-off is straightforward: you are accepting uneven performance and a concentrated fund-of-funds portfolio in exchange for a track record that has been stronger over multi-year periods than over the latest year.

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 08 Sep 2026

Frequently asked questions

What is the current NAV of ICICI Pru Aggressive Hybrid Active FOF Direct Growth Plan?
Its NAV is ₹244.1686 as of 08 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
Its returns are 1.92% for 1 year, 13.88% for 3 years and 13.77% for 5 years.

How does it compare with the benchmark?
It has outperformed the Nifty 50 over 3 years and 5 years, while the 1-year return is positive but modest at 1.92% versus the benchmark’s -7.16%.

How does it compare with the peer funds listed here?
The listed peers show much stronger 1-year numbers, mostly above 82%, while this fund’s 1-year return is 1.92%. The longer-term comparison is less uniform because several peer rows do not have 5-year figures.

Is there a minimum SIP amount?
The minimum SIP amount is ₹1,000.

Who manages the fund and what is the exit load?
The fund is managed by Dharmesh Kakkad, Manish Banthia and Ritesh Lunawat. The exit load is 1% on or before 1 year and nil after 1 year.

Bottom line

ICICI Pru Aggressive Hybrid Active FOF Direct Growth Plan looks stronger on multi-year outcomes than on the latest year, with 3-year and 5-year returns that sit well above the benchmark. The short-term picture is weaker, so the fund’s behaviour has not been smooth. Its High Risk tag and concentrated underlying-fund portfolio mean it may suit investors who can tolerate uneven periods and prefer a fund-of-funds structure with several large core positions rather than a broad, evenly spread holding set.

Published on 10 September 2026 at 3:28 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.