ICICI Pru Nifty G-Sec Dec 2030 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

ICICI Pru Nifty G-Sec Dec 2030 Index Fund Direct Growth Plan had a NAV of ₹13.3928 as of 16 Sep 2026 and an AUM of ₹813 Cr. Its 1-year, 3-year and 5-year returns are 4.86%, 7.46% and 0%. The scheme sits in the Medium Risk category, and our view is that it fits investors who want a dated gilt exposure with relatively steady movement rather than a high-growth, high-rotation equity-style profile.

The fund is best read as a conservative debt allocation with a clear maturity-linked structure. The portfolio is dominated by government securities, which supports the lower-volatility character, but the return pattern has been uneven enough that investors should expect a modest outcome profile rather than a strong capital-growth story.

Quick facts

Particular	Details
NAV	₹13.3928 as of 16 Sep 2026
AUM	₹813 Cr
Expense Ratio	0.2%
Launch Date	11 Oct 2022
Min SIP	₹500
Risk Category	Medium Risk
Benchmark	Nifty 50
Fund Category	Index Funds
Exit Load	No exit load
Fund Managers	Darshil Dedhia, Rohit Lakhotia

The fund is managed by Darshil Dedhia and Rohit Lakhotia.

Source data date: as of 16 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-0.66%	-4.41%
3M	0.5%	-3.6%
1Y	4.86%	-7.76%
3Y	7.46%	5.74%
5Y	Data not available	Data not available

Recent performance has been mixed, but it has been notably steadier than the benchmark in the short term. Over 1 month and 3 months, the fund stayed close to flat to mildly positive while the benchmark remained negative, which suggests the portfolio cushioned some of the broader swings. That kind of behaviour is consistent with a government-security-heavy structure and supports the medium-risk label rather than a volatile outcome profile.

The 1-year return of 4.86% is meaningfully better than the benchmark’s -7.76%, so the fund has clearly protected capital better over the last year than the reference index. That said, a better one-year reading does not turn this into a high-return product. The absolute return is still moderate, and investors should read it as a stability-first outcome rather than a strong appreciation story.

On a 3-year basis, the fund’s 7.46% return is ahead of the benchmark’s 5.74%. The longer window matters here because it shows the fund has done more than just hold up in a weak patch; it has also compounded better over a fuller cycle. Even so, the path has not been smooth, and the shorter windows show that returns can drift around the flat line before recovery appears. The 5-year column is not available because the scheme has not been in existence for that full period.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD ICICI Pru Nifty G-Sec Dec 2030 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 Nifty G-Sec Dec 2030 Index Fund Direct Growth Plan	4.86%	7.46%	Data not available
ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan	29.31%	30.01%	Data not available
Tata Nifty Capital Markets Index Fund Direct Growth Plan	21.45%	Data not available	Data not available
Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan	21.13%	Data not available	Data not available
Motilal Oswal Nifty MidSmall Financial Services Index Fund Direct Growth Plan	20.68%	Data not available	Data not available
ICICI Pru Nifty Pharma Index Fund Direct Growth Plan	17.57%	18.84%	Data not available

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

The fund’s 1-year return trails the strongest peer readings in this set by a wide margin, even though it remains positive. That gap reflects the nature of the strategy: gilt-linked returns usually behave differently from sector-focused equity index funds, so the comparison is less about matching upside and more about holding a steadier line. On the available 3-year numbers, the fund is closer to the stronger end of the group than its own 1-year figure might suggest, which tells us the recent picture and the longer window do not say exactly the same thing.

Among peers with 3-year data, its 7.46% return sits below the two funds that show much higher medium-term gains, but above the benchmark-style outcome implied by a more defensive return stream. That makes the fund’s longer-term profile look moderate rather than standout. The short-term peer gap is larger than the 3-year gap, which suggests the fund’s main edge is relative stability, not rapid compounding.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
8.97% Government Securities	Government Securities	65.2%
9.2% Government Securities	Government Securities	24.56%
7.88% Government Securities	Government Securities	3.03%
Net Current Assets	Cash & Cash Equivalents and Net Assets	2.28%
5.77% Government Securities	Government Securities	2.27%
5.85% Government Securities	Government Securities	1.2%
7.61% Government Securities	Government Securities	0.87%
TREPS	Cash & Cash Equivalents and Net Assets	0.53%

The largest holding, 8.97% Government Securities, carries a 65.2% weight, so it is likely to have the greatest influence on day-to-day portfolio behaviour. The second-largest line, 9.2% Government Securities, is also substantial at 24.56%, which means the fund’s core exposure is heavily anchored in just two sovereign securities.

The remaining disclosed holdings fall away sharply after that. By the time we reach the smaller lines, weights are already down to low single digits and then below 1%, so the portfolio does not show a gradual spread across similarly sized positions. Instead, it looks concentrated at the top and then quickly tapered toward a long tail.

Because the disclosed holdings together account for 99.94% of the portfolio across 8 holdings, the structure appears compact and transparent rather than widely dispersed. That concentration may contribute to more predictable bond-specific behaviour, but it also means portfolio outcomes are likely to be driven mainly by the largest government-security positions.

Source data date: as of 16 Sep 2026

Who should invest

This fund may suit investors who are comfortable with Medium Risk and want a debt-oriented allocation with a government-security core. The return pattern suggests a longer holding period is more sensible than a short one, because the 1-year and 3-year numbers tell a steadier story than the brief month-to-month swings.

The main trade-off is clear: you may get a more stable trajectory than many equity-linked peer funds, but you should not expect the stronger upside those peers have shown in some periods. The portfolio is concentrated in sovereign securities, so it may work better for investors who value policy-linked fixed-income exposure and can accept moderate return potential.

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

No exit load applies if units are sold anytime.

Source data date: as of 16 Sep 2026

Frequently asked questions

What is the current NAV of ICICI Pru Nifty G-Sec Dec 2030 Index Fund Direct Growth Plan?
The current NAV is ₹13.3928 as of 16 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year return is 4.86% and its 3-year return is 7.46%. The 5-year return is not available because the scheme has not completed that full period.

How has the fund performed versus its benchmark?
It has done better than the benchmark over 1 year and 3 years. The fund returned 4.86% versus -7.76% for the benchmark over 1 year, and 7.46% versus 5.74% over 3 years.

How does it compare with the peer funds shown here?
Its recent return is lower than the stronger equity-oriented peer readings in this set, but its 3-year return is still positive and ahead of some benchmark-style outcomes. The comparison points more to stability than to high upside.

Is there a minimum SIP amount?
There is no SIP in this scheme, so a minimum SIP amount is not relevant here.

What are the tax and exit-load rules?
Units held for less than 1 year are taxed at 20% as short-term capital gains, while units held for more than 1 year are taxed at 12.5% as long-term capital gains. No exit load applies if units are sold anytime.

Bottom line

This fund’s recent return pattern is steadier than its benchmark, and its 3-year outcome is more constructive than the weaker short-term market backdrop, even though the absolute return level remains moderate. Compared with the peer set shown here, it does not match the higher-return equity index funds, but its government-security-heavy portfolio makes the risk profile more contained. The fund is better suited to investors who want a conservative, maturity-linked debt allocation and can accept that the trade-off for steadiness is limited upside.

Published on 17 September 2026 at 5:36 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.