ICICI Pru BSE Sensex Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

ICICI Pru BSE Sensex Index Fund Direct Growth Plan currently has a NAV of ₹24.992 as of 11 Sep 2026 and an AUM of ₹1,839 Cr. Its 1-year, 3-year and 5-year returns are -7.55%, 4.62% and 6.09% respectively, and the fund sits in the High Risk category.

Our view is that this is a straightforward index option for investors who want broad large-cap market exposure at a low cost, with an expense ratio of 0.2% and no exit load. The return pattern is mixed: the longer-term numbers are positive, but the latest 1-year result is weak, so it fits better as a long-horizon core allocation than as a short-term return play.

Quick facts

Particular	Details
NAV	₹24.992 as of 11 Sep 2026
AUM	₹1,839 Cr
Expense Ratio	0.2%
Launch Date	21 Sep 2017
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Index Funds
Exit Load	No exit load
Fund Managers	Nishit Patel, Ajaykumar Solanki, Ashwini Shinde, Venus Ahuja

The fund is managed by Nishit Patel, Ajaykumar Solanki, Ashwini Shinde and Venus Ahuja.

Source data date: as of 11 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-3.78%	-3.66%
3M	-1.45%	-1.91%
1Y	-7.55%	-7.62%
3Y	4.62%	6.22%
5Y	6.09%	5.84%

The recent pattern is soft, but not unstable in a dramatic way. Over 1 month and 3 months, the fund stayed close to the benchmark, which tells us the index-tracking structure is behaving in a familiar way and not taking large active bets.

The 1-year figure is still negative, and that makes the fund look weak over the most recent full cycle. That said, the benchmark is also negative over 1 year, so the pain is market-led rather than scheme-specific.

The longer horizon is more constructive. The 5-year return is positive and slightly ahead of the benchmark, while the 3-year return trails the benchmark by a noticeable margin. Our read is that the fund has broadly tracked market direction, but the medium-term stretch has not turned as cleanly as the 5-year record.

The daily movement pattern also points to a fund that can move sharply with the market. For investors, that means the main question is not manager outperformance but whether they are comfortable holding a large-cap index through weak phases until the market cycle improves.

Source data date: as of 11 Sep 2026

Should you BUY or HOLD ICICI Pru BSE Sensex Index?

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 BSE Sensex Index Fund Direct Growth Plan	-7.55%	4.62%	6.09%
ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan	32.61%	29.92%	Data not available
Motilal Oswal Nifty India Defence Index Fund Direct Growth Plan	26.23%	Data not available	Data not available
Aditya Birla SL Nifty India Defence Index Fund Direct Growth Plan	26.22%	Data not available	Data not available
Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan	26.18%	Data not available	Data not available
Tata Nifty Capital Markets Index Fund Direct Growth Plan	25.91%	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 performance, the fund trails the peer group names listed here by a wide margin, because those peer funds have posted strong gains over the same period while this fund is negative. That gap matters for anyone comparing recent momentum.

The longer view is less stark. The fund’s 3-year and 5-year numbers are positive, which is better than the short-term picture, but the peer set with available longer-horizon data still shows materially stronger 3-year outcomes. The comparison therefore tells two different stories: recent relative softness versus a more acceptable long-term base.

For investors, that means the fund looks more suitable as a benchmark-linked large-cap holding than as a recent-performance leader. The key point is that its return profile reflects market tracking, so the conversation is about staying invested through cycles rather than chasing short bursts of outperformance.

Source data date: as of 11 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
HDFC Bank Ltd.	Bank	11.85%
ICICI Bank Ltd.	Bank	11.4%
Reliance Industries Ltd.	Crude Oil	9.53%
Bharti Airtel Ltd.	Telecom	6.11%
Larsen & Toubro Ltd.	Infrastructure	5.17%
State Bank of India	Bank	4.83%
Infosys Ltd.	IT	4.31%
Axis Bank Ltd.	Bank	4.02%
Kotak Mahindra Bank Ltd.	Bank	3.38%
Mahindra & Mahindra Ltd.	Automobile & Ancillaries	3.26%

The top 10 holdings account for approximately 63.86% of the portfolio.

To see all holdings, visit the ICICI Pru BSE Sensex Index Fund Direct Growth Plan page

HDFC Bank is the largest holding at 11.85%, so it is likely to have the greatest single-stock influence among the disclosed positions. After that, the weights step down in a fairly orderly way, with ICICI Bank close behind and Reliance Industries still a large position, before the portfolio spreads into mid-single-digit weights.

By the tenth holding, the weight has fallen to 3.26%, which shows a clear taper from the top of the portfolio. That kind of profile may help limit dependence on any one stock, but the first few positions still matter a great deal for day-to-day tracking versus the benchmark.

The disclosed top 10 account for 63.86% of the portfolio, and there are 30 holdings in total. That suggests a meaningful core-satellite structure: the biggest names drive a large share of movement, while the remaining holdings form a longer tail that may reduce concentration compared with a very narrow portfolio.

Source data date: as of 11 Sep 2026

Who should invest

This fund suits investors who are comfortable with market-linked ups and downs and can hold through a weak year. The High Risk label is appropriate because the fund can fall with the market, as the 1-year return and short-term periods show, even though the longer-term record is positive.

We think the better fit is a long investment horizon, ideally several years, because the 3-year and 5-year numbers tell a more stable story than the latest 12 months. The main trade-off is simple: you get low-cost, benchmark-style large-cap exposure, but you also accept that returns will closely follow market cycles rather than offering strong downside protection.

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: No exit load.

Source data date: as of 11 Sep 2026

Frequently asked questions

What is the current NAV of ICICI Pru BSE Sensex Index Fund Direct Growth Plan?

The current NAV is ₹24.992 as of 11 Sep 2026.

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

The 1-year return is -7.55%, the 3-year return is 4.62% and the 5-year return is 6.09%.

How has the fund performed versus its benchmark?

It is close to the benchmark over 1 month, 3 months and 1 year, but it trails over 3 years and is slightly ahead over 5 years.

How does it compare with the peer funds listed here?

Its 1-year return is far below the peer funds shown, while the longer-term picture is mixed because the fund has positive 3-year and 5-year returns, but the available peer data shows stronger 3-year numbers for some peers.

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 Nishit Patel, Ajaykumar Solanki, Ashwini Shinde and Venus Ahuja. The exit load is nil, so there is no exit load on redemption.

Bottom line

This fund’s short-term performance is weak, but its 3-year and 5-year records are more constructive, which makes the recent dip look more like market behaviour than a broken structure. Compared with the listed peers, the 1-year result is much softer, while the longer-term picture is mixed rather than clearly dominant. With a High Risk label, a low expense ratio and a portfolio led by a few large financial and market-cap names, it suits investors who want simple large-cap index exposure and can stay invested through market cycles.

Published on 15 September 2026 at 3:34 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.