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

ICICI Pru Nifty IT Index Fund Direct Growth Plan had a NAV of ₹10.3385 as of 16 Sep 2026 and an AUM of ₹467 Cr. Its 1-year, 3-year and 5-year returns are -18.19%, -2.78% and 0% respectively, and the scheme sits in High Risk. Our view is that this is a narrow sector index fund that can suit investors who want focused IT exposure, but the return pattern has been weak across medium and long horizons.

The portfolio is heavily tilted to a small set of IT names, so the fund will likely move closely with the sector cycle. That makes it more appropriate for investors who can tolerate sharp swings and who understand that benchmark-like tracking in a sector fund can still mean meaningful drawdowns.

Quick facts

Particular	Details
NAV	₹10.3385 as of 16 Sep 2026
AUM	₹467 Cr
Expense Ratio	0.37%
Launch Date	18 Aug 2022
Min SIP	₹1,000
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Index Funds
Exit Load	No exit load
Fund Managers	Nishit Patel, Ashwini Shinde, Ajaykumar Solanki, Venus Ahuja

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

Source data date: as of 16 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-5.6%	-4.41%
3M	1.17%	-3.6%
1Y	-18.19%	-7.76%
3Y	-2.78%	5.74%
5Y	Data not available	Data not available

Recent behaviour has been uneven. The 1-month return is negative, but the 3-month figure is mildly positive, which suggests a short recovery after a weaker patch rather than a clean trend reversal. Even so, the 1-year number remains deeply negative, so the recent bounce has not yet repaired the broader damage.

Against the benchmark, the fund has lagged over every available common period except 3 months. The gap is especially clear over 1 year and 3 years, where the benchmark has held up better than the fund. That tells us the sector exposure has not been a reliable source of relative strength in the recent cycle.

The 3-year and 5-year views also matter because this is an index fund with a concentrated sector mandate. The 3-year return is still negative, while the 5-year figure is not available in the table because the scheme has not completed that full track record. In practical terms, the fund has shown patches of resilience, but its longer run has not yet produced stable compounding.

The pattern in the price path is consistent with a volatile sector fund: periods of recovery have followed sharp setbacks, but the rebounds have been incomplete. For investors, that means the fund can participate strongly if the IT cycle turns better, yet it may also stay under pressure when the sector softens.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD ICICI Pru Nifty IT 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 IT Index Fund Direct Growth Plan	-18.19%	-2.78%	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 current fund’s 1-year return is weaker than all five peer funds shown here, while its 3-year result is also below the peers that have a 3-year figure available. That combination says the recent weakness has not been isolated to one short window; it has also affected the medium-term outcome. The short-term comparison and the longer-term comparison point in the same direction, so the fund has not shown a clear relative edge on the available return data.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Infosys Ltd.	IT	28.86%
Tata Consultancy Services Ltd.	IT	20.25%
HCL Technologies Ltd.	IT	11.44%
Tech Mahindra Ltd.	IT	10.52%
Coforge Ltd.	IT	7.03%
Persistent Systems Ltd.	IT	6.19%
Wipro Ltd.	IT	5.08%
LTIMINDTREE Ltd.	IT	4.29%
Mphasis Ltd.	IT	3.27%
Oracle Financial Services Software Ltd.	IT	3.04%

The largest holding, Infosys Ltd., accounts for 28.86% of the portfolio, so it is likely to have greater influence on fund behaviour than any other single name. The next few positions also remain large, which means the portfolio is not evenly spread across the ten holdings.

Weight falls from 28.86% at the top to 3.04% at the tenth holding, and that decline is fairly steep. The top two positions together already dominate a large part of the fund, while the remaining names step down in smaller layers. That structure can make the scheme more responsive to sector leaders but also more sensitive if one or two large constituents underperform.

Because the top 10 holdings account for 99.97% of the portfolio and the table covers all 10 disclosed holdings, the fund is very concentrated within a single sector and has little visible tail beyond these names. That concentration may contribute to sharper moves than a broader diversified equity fund, especially when the IT space is volatile.

Source data date: as of 16 Sep 2026

Who should invest

This fund fits investors who are comfortable with High Risk exposure and who want a focused IT sector allocation rather than broad market diversification. The return pattern shows a weak 1-year and 3-year outcome, so a longer horizon is important if the sector thesis is to play out. The main trade-off is simple: you get concentrated participation in IT stocks, but you also accept the possibility of sharp drawdowns when the sector is out of favour.

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 IT Index Fund Direct Growth Plan?
The current NAV is ₹10.3385 as of 16 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The returns are -18.19% for 1 year, -2.78% for 3 years and 0% for 5 years.

How does the fund compare with its benchmark?
It has lagged the benchmark over 1 year and 3 years, while the 3-month return is the only recent period where the fund is ahead.

How does it compare with the peer funds shown here?
Its 1-year and 3-year returns are weaker than the peer funds shown here that have figures available for the same periods.

What is the minimum SIP amount?
The minimum SIP amount is ₹1,000.

What is the exit load and who manages the fund?
There is no exit load. The fund is managed by Nishit Patel, Ashwini Shinde, Ajaykumar Solanki and Venus Ahuja.

Bottom line

This is a concentrated sector index fund whose recent recovery has not yet changed the weaker 1-year and 3-year picture. It has also trailed the benchmark and the peer funds shown here on the available return figures. The portfolio is heavily anchored in a few large IT names, which can amplify sector moves in either direction. It suits investors who want focused IT exposure and can stay patient through periods of underperformance.

Published on 17 September 2026 at 3:45 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.