ICICI Pru Nifty 100 Low Volatility 30 ETF FOF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Updated: 17 Sept 2026 • 9:52 am

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ICICI Pru Nifty 100 Low Volatility 30 ETF FOF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

ICICI Pru Nifty 100 Low Volatility 30 ETF FOF Direct Growth Plan had a NAV of ₹17.7542 as of 16 Sep 2026 and an AUM of ₹1,240 Cr. Its 1-year, 3-year and 5-year returns are -6.25%, 8.46% and 7.87%, and the scheme sits in the High Risk bucket. Our view is that this is a low-volatility equity-oriented fund-of-funds that may suit investors who are comfortable with sharp short-term swings but still want a smoother path than many broad-market equity options.

The current return pattern is mixed: the recent 1-year number is weak, but the 3-year and 5-year figures are positive. That makes the fund more suitable for a patient horizon than for money that needs to stay stable over the next few months.

Table of Contents

Quick facts

Particular	Details
NAV	₹17.7542 as of 16 Sep 2026
AUM	₹1,240 Cr
Expense Ratio	0.14%
Launch Date	12 Apr 2021
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Others
Exit Load	No exit load
Fund Managers	Nishit Patel, Ashwini Shinde, Venus Ahuja

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

Source data date: as of 16 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-5.47%	-4.41%
3M	-2.23%	-3.60%
1Y	-6.25%	-7.76%
3Y	8.46%	5.74%
5Y	7.87%	5.67%

The short-term picture is softer than the longer-term view. Over 1 month and 3 months, the fund stayed negative, and the one-year return also remained below zero. That tells us the recent stretch has been uncomfortable, even though the 3-year and 5-year numbers still remain positive.

Against NIFTY 50, the fund trails at 1 month and 3 months, but it does better over 1 year, 3 years and 5 years. That is important because it suggests the strategy has not merely tracked the benchmark; it has outpaced it over the longer windows while still facing a rougher short-term patch.

The return path also looks uneven rather than linear. The longer series shows a recovery phase after earlier weakness, followed by a flatter, more unsettled recent run. In practical terms, the fund has not delivered a smooth climb, so investors should expect periodic drawdowns even though the multi-year outcome remains constructive.

For us, the main takeaway is that the fund’s longer-term compounding pattern is more important than its latest one-year stumble. The benchmark comparison supports that view, because the fund’s edge is visible over 3 and 5 years, not in the most recent month-to-quarter window.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD ICICI Pru Nifty 100 Low Volatility 30 ETF 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.

Already holding ICICI Pru Nifty 100 Low Volatility 30 ETF FOF? Thinking of investing now?

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Peer comparison

Fund	1Y return	3Y return	5Y return
ICICI Pru Nifty 100 Low Volatility 30 ETF FOF Direct Growth Plan	-6.25%	8.46%	7.87%
DSP Silver ETF FoF Direct Growth Plan	74.79%	Data not available	Data not available
UTI Silver ETF FoF Direct Growth Plan	73.31%	45.21%	Data not available
ICICI Pru Silver ETF FoF Direct Growth Plan	72.38%	45.03%	Data not available
Tata Silver ETF FoF Direct Growth Plan	69.73%	Data not available	Data not available
UTI Gold ETF FoF Direct Growth Plan	35.4%	35.95%	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 weaker than the peer group shown here, while several of the comparison funds have posted strongly positive recent numbers. On the longer horizon, the picture is more balanced because the fund’s 3-year and 5-year returns are positive and compare well with the benchmark, but the peer set with available multi-year figures still shows materially higher 3-year numbers in some cases. So the short-term and longer-term stories are not the same: the recent stretch looks weak, while the multi-year record is sturdier.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
ICICI Prudential Nifty 100 Low Volatility 30 ETF	Domestic Mutual Funds Units	99.96%

The fund is almost entirely invested in a single underlying ETF holding, so that position is likely to have the greatest influence on returns and volatility. With just one disclosed holding and a weight of 99.96%, there is very little room for diversification inside the visible portfolio.

That structure also means the portfolio is straightforward to understand, but it may amplify the impact of the underlying ETF’s own movements. Because the disclosed holdings list contains only one row, there is no visible long tail of smaller positions to cushion the main exposure.

In practical terms, this is a concentrated fund-of-funds structure rather than a broad basket of many separate holdings. Investors who prefer a simple underlying allocation may appreciate that clarity, while those looking for wider internal diversification may find the setup limited.

Source data date: as of 16 Sep 2026

Who should invest

This fund fits investors with a high risk tolerance who can accept short-term declines in exchange for a steadier multi-year pattern. The negative 1-year return shows that the ride can be choppy, even though the 3-year and 5-year returns have stayed positive and have been better than the benchmark over those horizons.

We think the better horizon is at least three years, and longer if the investor wants the smoother low-volatility style to work through market cycles. The trade-off is clear: you may get a more controlled equity experience than a direct broad-market exposure, but recent performance can still lag and the portfolio is highly concentrated in one underlying ETF.

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 16 Sep 2026

Frequently asked questions

What is the current NAV of ICICI Pru Nifty 100 Low Volatility 30 ETF FOF Direct Growth Plan?

The NAV is ₹17.7542 as of 16 Sep 2026.

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

The returns are -6.25% for 1 year, 8.46% for 3 years and 7.87% for 5 years.

How does the fund compare with NIFTY 50?

It trails NIFTY 50 over 1 month and 3 months, but it is ahead over 1 year, 3 years and 5 years.

How does it compare with the peer funds listed here?

Its 1-year return is much weaker than the peer funds shown here, while its 3-year and 5-year returns are more moderate and some peers have stronger longer-term figures where those are available.

What is the minimum SIP amount?

The minimum SIP amount is ₹100.

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

The scheme is tagged High Risk and is managed by Nishit Patel, Ashwini Shinde and Venus Ahuja. It also has no exit load.

Bottom line

This fund’s recent performance is weaker than its longer-term record, so the latest year does not tell the full story. Over 3 and 5 years, it has stayed positive and has beaten the benchmark, but the peer set shown here has several funds with much stronger recent numbers. The portfolio is highly concentrated in one underlying ETF, which makes the structure simple but also means that one exposure dominates the outcome. For investors who can accept High Risk and a longer holding period, the fund’s role is more about patient allocation than short-term momentum.

Published on 17 September 2026 at 9:51 AM IST

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.