ICICI Pru Diversified Equity All Cap Omni FOF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

ICICI Pru Diversified Equity All Cap Omni FOF Direct Growth Plan has a NAV of ₹32.6058 as of 11 Sep 2026 and manages ₹347 Cr. Its 1-year, 3-year and 5-year returns are 1.68%, 14.31% and 14.97%, and it carries a High Risk tag.

Our view is that this fund suits investors who can tolerate sharp swings and want a diversified equity-oriented exposure through a fund of funds structure. The long-term return profile is better than its recent 1-year outcome, so the main question is whether an investor is comfortable with a choppier short-term path in exchange for stronger compounding over longer holding periods.

Quick facts

Particular	Details
NAV	₹32.6058 as of 11 Sep 2026
AUM	₹347 Cr
Expense Ratio	0.63%
Launch Date	25 Feb 2020
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Fund of Fund
Exit Load	1% on or before 12M, Nil after 12M
Fund Managers	Dharmesh Kakkad, Sharmila Dsilva, Masoomi Jhurmarvala

The fund is managed by Dharmesh Kakkad, Sharmila Dsilva and Masoomi Jhurmarvala.

Source data date: as of 11 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-2.32%	-4.81%
3M	1.38%	-3.63%
1Y	1.68%	-8.27%
3Y	14.31%	5.59%
5Y	14.97%	5.58%

The fund’s recent run has been uneven, with a negative 1-month return followed by a mild 3-month recovery and a modest 1-year gain. That pattern matters because it shows the scheme did not move in a straight line, even though it still stayed ahead of the benchmark across every period shown.

The longer view is more constructive. Both the 3-year and 5-year returns are comfortably above the benchmark’s figures, which suggests the strategy has compounded better than the index over time. The gap is especially clear over 3 years, where the fund has held onto a much stronger trajectory than the benchmark.

At the same time, the 1-year number is far lower than the 3-year and 5-year outcomes, so recent returns have not matched the fund’s longer track record. In our view, that difference points to a fund that can absorb market stress but may still deliver a stop-start experience in the shorter term.

For investors, the key takeaway is that the benchmark comparison is positive, but the short-term pattern is less steady than the multi-year picture. This is the kind of profile where patience matters more than chasing a single recent period.

Source data date: as of 11 Sep 2026

Should you BUY or HOLD ICICI Pru Diversified Equity All Cap Omni 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 Diversified Equity All Cap Omni FOF Direct Growth Plan	1.68%	14.31%	14.97%
SBI Silver ETF FOF Direct Growth Plan	81.88%	Data not available	Data not available
Axis Silver FoF Direct Growth Plan	80.07%	45.18%	Data not available
Zerodha Silver ETF FoF Direct Growth Plan	79.84%	Data not available	Data not available
HDFC Silver ETF FoF Direct Growth Plan	79.28%	44.7%	Data not available
Kotak Silver ETF FoF Direct Growth Plan	74.67%	44.26%	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 peer figures shown here, while its 3-year and 5-year returns are also lower than the peers with available longer-horizon numbers. That said, the peer group is dominated by silver-focused FoFs, so the shorter and longer comparisons are not telling the same story about the fund’s own equity-oriented profile.

Source data date: as of 11 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
ICICI Prudential Focused Equity Fund – Direct – Growth	Domestic Mutual Funds Units	45.75%
Bandhan Large & Mid Cap Fund – Direct Plan – Growth	Domestic Mutual Funds Units	9.93%
Helios Flexi Cap Fund – Direct Plan – Growth Option	Domestic Mutual Funds Units	8.97%
ICICI Prudential Large Cap Fund – Direct Plan – Growth	Domestic Mutual Funds Units	6.49%
Parag Parikh Flexi Cap Fund – Direct – Growth	Domestic Mutual Funds Units	5.67%
ICICI Prudential Large & Mid Cap Fund – Direct Plan – Growth	Domestic Mutual Funds Units	4.95%
Pgim India Large Cap Fund – Direct Plan – Growth	Domestic Mutual Funds Units	4.77%
HDFC Nifty Smallcap 250 ETF	Domestic Mutual Funds Units	4.34%
ICICI Prudential Nifty Midcap 150 ETF	Domestic Mutual Funds Units	3.15%
ICICI Prudential Nifty Smallcap 250 Index Fund – Direct Plan – Growth	Domestic Mutual Funds Units	2.92%

The largest holding is 45.75%, so one position carries a very meaningful share of the disclosed portfolio. The drop from the first holding to the tenth is steep, which tells us the fund is not evenly spread across all its visible positions.

The top 10 disclosed holdings together account for 96.94% of the portfolio, and there are 12 holdings in total. That combination suggests a portfolio that is fairly concentrated in the displayed line-up, with a longer tail beyond the visible list that is comparatively small.

For investors, this concentration may matter because the performance of the largest underlying equity fund is likely to have greater influence on the overall outcome than the smaller positions. At the same time, the mix still includes a range of large-cap, flexi-cap, mid-cap and small-cap exposures through underlying funds and ETFs, so the structure may offer diversification across different styles even though the weight distribution is uneven.

To see all holdings, visit the ICICI Pru Diversified Equity All Cap Omni FOF Direct Growth Plan page

Source data date: as of 11 Sep 2026

Who should invest

This fund is suited to investors who can accept High Risk and are comfortable with a return path that may be uneven in the short run. The 1-year result is modest, but the 3-year and 5-year figures are much stronger, so the scheme fits better for a longer horizon where multi-year compounding matters more than near-term consistency.

The main trade-off is that the fund has stayed ahead of its benchmark over the periods shown, but it has not delivered that edge smoothly. Investors who prefer steadier short-term outcomes or lower day-to-day volatility may find the profile demanding, while those who can tolerate swings may value the stronger longer-term pattern.

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 redeemed within 12 months; no exit load after 12 months.

Source data date: as of 11 Sep 2026

Frequently asked questions

What is the current NAV of ICICI Pru Diversified Equity All Cap Omni FOF Direct Growth Plan?

The current NAV is ₹32.6058 as of 11 Sep 2026.

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

The fund’s 1-year return is 1.68%, the 3-year return is 14.31% and the 5-year return is 14.97%.

How does this fund compare with its benchmark?

It has stayed ahead of the benchmark across the 1-month, 3-month, 1-year, 3-year and 5-year periods shown. The longer-horizon gap is clearly more supportive than the short-term pattern.

How does it compare with the peer funds shown here?

Its 1-year return is far lower than the peer figures shown, and its 3-year and 5-year returns are also below the peers with available longer-horizon numbers. The comparison set, however, is made up of silver-oriented FoFs, so the context is not identical.

What is the exit load?

The exit load is 1% if units are redeemed within 12 months, and there is no exit load after 12 months.

Who manages the fund?

The fund is managed by Dharmesh Kakkad, Sharmila Dsilva and Masoomi Jhurmarvala.

Bottom line

This fund has a more convincing multi-year record than its latest 1-year result, and it has also stayed ahead of the benchmark across the periods shown. The profile is High Risk, so the ride can be uneven, but the longer-term pattern is stronger than the recent one. The portfolio is also concentrated, with one underlying position carrying a very large weight, which can make outcomes more dependent on a few holdings. It fits investors who can stay patient through volatility and focus on longer holding periods.

Published on 16 September 2026 at 2:48 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.