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

ICICI Pru Bharat Consumption Fund Direct Growth Plan is an equity fund with a current NAV of ₹26.26 as of 15 Sep 2026 and an AUM of ₹3,238 Cr. Its 1-year, 3-year and 5-year returns are -6.48%, 8.97% and 12.37% respectively, and the scheme sits in the High Risk bucket.

Our view is that the fund has rewarded longer holding periods better than the latest one-year stretch, while still carrying the volatility that comes with a consumption-focused equity strategy. The portfolio is led by large single-stock positions and a fairly concentrated top layer, so it may suit investors who can accept sharper swings in exchange for participation in domestic consumption themes.

Quick facts

Particular	Details
NAV	₹26.26 as of 15 Sep 2026
AUM	₹3,238 Cr
Expense Ratio	1.09%
Launch Date	12 Apr 2019
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	1% on or before 3M, Nil after 3M
Fund Managers	Priyanka Khandelwal

The fund is managed by Priyanka Khandelwal.

Source data date: as of 15 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-5.57%	-4.81%
3M	0.54%	-3.63%
1Y	-6.48%	-8.27%
3Y	8.97%	5.59%
5Y	12.37%	5.58%

The latest one-month and one-year numbers show a weak patch, even though the fund still held up a little better than the benchmark over 1Y. That tells us the recent setback was broad-based, but the fund’s fall was not as deep as the NIFTY 50 over the same 12-month window.

The three-month return turned positive while the benchmark stayed negative, which suggests a short-term recovery phase. That recovery matters because the 1M figure was still weak, so the path has not been smooth; instead, it points to a fund that can recover after drawdowns but may do so unevenly.

Over 3Y and 5Y, the fund is ahead of the benchmark, and the gap becomes more visible over the longer period. The 5-year outcome is the clearest sign that the strategy has compounded better than the index across a full cycle, even though the latest year interrupted that pattern.

In our view, the main takeaway is that this is not a steady, low-volatility return profile. The fund’s longer-term compounding is better than the benchmark, but the recent negative one-year outcome reminds investors that the ride can be choppy, especially in periods when consumption-linked names are under pressure.

Source data date: as of 15 Sep 2026

Should you BUY or HOLD ICICI Pru Bharat Consumption?

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 Bharat Consumption Fund Direct Growth Plan	-6.48%	8.97%	12.37%
ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan	69.16%	37.12%	Data not available
HDFC Pharma and Healthcare Fund Direct Growth Plan	27.47%	Data not available	Data not available
SBI Automotive Opportunities Fund Direct Growth Plan	27.05%	Data not available	Data not available
Kotak Healthcare Fund Direct Growth Plan	26.51%	Data not available	Data not available
Motilal Oswal Active Momentum Fund Direct Growth Plan	25.46%	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 recent 1-year return is weaker than the peer names listed here, while its 3-year and 5-year figures are comfortably positive. That gives it a different profile from the faster one-year gains shown by some peers, where the short-term numbers are much stronger but longer-term data is often not available.

Compared with the peer group, our view is that this fund looks steadier on multi-year compounding than many of the available peer entries, even though its latest year was negative. The short-term comparison and the longer-term comparison therefore tell different stories: the recent year trails the stronger one-year peer figures, but the 3-year and 5-year figures still support a more established compounding record.

Source data date: as of 15 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Hindustan Unilever Ltd.	FMCG	8.86%
Mahindra & Mahindra Ltd.	Automobile & Ancillaries	8.52%
Bharti Airtel Ltd.	Telecom	5.16%
Eternal Ltd.	Retailing	4.93%
Maruti Suzuki India Ltd.	Automobile & Ancillaries	4.83%
Trent Ltd.	Retailing	4.79%
Interglobe Aviation Ltd.	Aviation	3.97%
The Indian Hotels Company Ltd.	Hospitality	2.95%
TVS Motor Company Ltd.	Automobile & Ancillaries	2.86%
Jubilant Foodworks Ltd.	FMCG	2.65%

The top 10 holdings account for approximately 49.52% of the portfolio.

To see all holdings, visit the ICICI Pru Bharat Consumption Fund Direct Growth Plan page

The largest holding, Hindustan Unilever Ltd., carries an 8.86% weight, which is meaningful but not extreme for a themed equity fund. The next few positions are also sizeable, with Mahindra & Mahindra Ltd. at 8.52% and Bharti Airtel Ltd. at 5.16%, so the largest names may have a noticeable influence on returns.

The drop from the first holding to the tenth is moderate rather than steep. The tenth holding still stands at 2.65%, which tells us the portfolio is not dominated by only one or two positions, but the top layer is still important enough to shape performance when consumer-facing stocks move together.

With 49.52% of the disclosed top holdings concentrated in just 10 names out of 42 disclosed holdings, the fund may have a balanced core but still a meaningful concentration at the top. That structure could make it responsive to consumer spending trends while also leaving it exposed to stock-specific moves in a few large positions.

Source data date: as of 15 Sep 2026

Who should invest

This fund may suit investors who can tolerate High Risk equity swings and who have a multi-year horizon. The 3-year and 5-year figures are stronger than the benchmark, but the 1-year return is negative, so the holding period matters.

Our view is that it fits investors who want exposure to domestic consumption-led businesses and who can accept that the benchmark relationship may vary across market phases. The main trade-off is that the fund has a better longer-term record than the recent year suggests, but that improvement comes with meaningful volatility and a concentrated top layer of holdings.

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 on or before 3 months; nil after 3 months.

Source data date: as of 15 Sep 2026

Frequently asked questions

What is the current NAV of ICICI Pru Bharat Consumption Fund Direct Growth Plan?

The current NAV is ₹26.26 as of 15 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?

The fund’s returns are -6.48% over 1 year, 8.97% over 3 years and 12.37% over 5 years.

How does the fund compare with the benchmark?

It has lagged the benchmark over 1 year, but it is ahead over 3 years and 5 years. The benchmark returns are -8.27%, 5.59% and 5.58% over those same periods.

How does the fund compare with the peer funds listed here?

Its 1-year return is lower than the peer names listed here, while its 3-year and 5-year record is positive. The peer set includes much stronger one-year numbers, but longer-term data is often not available for those funds.

What is the minimum SIP amount?

₹100.

What is the risk level, and who manages the fund?

The fund is in the High Risk category and is managed by Priyanka Khandelwal. The portfolio is led by large positions in consumer, telecom, retail, automobile and aviation names.

Bottom line

This fund’s recent year was weak, but its 3-year and 5-year figures are still better than the benchmark, so the longer-term pattern is more constructive than the latest dip suggests. Compared with the listed peers, the one-year number is softer, while the multi-year profile remains positive. The fund carries High Risk and a fairly concentrated set of large holdings, so it may suit investors who want consumption exposure and can stay with it through uneven periods rather than treating it as a short-term play.

Published on 16 September 2026 at 12:41 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.