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

ICICI Pru Technology Fund Direct Growth Plan closed at ₹204.94 as of 04 Sep 2026, with AUM of ₹13,540 Cr. Its 1-year, 3-year and 5-year returns are -5.83%, 7.05% and 4.5%, and the fund sits in the High Risk bucket. Our view is that this is a sector-specific equity fund that can move sharply in both directions, so it suits investors who can tolerate volatility and are comfortable with a technology-heavy portfolio rather than a broad market exposure.

The fund has recovered over the medium term after a weak 1-year stretch, but the longer horizon still looks restrained versus a plain benchmark-style equity outcome. The portfolio is concentrated in a handful of large positions, led by IT and telecom names, which can help when those themes are in favour but may also amplify drawdowns when sentiment turns.

Quick facts

Particular	Details
NAV	₹204.94 as of 04 Sep 2026
AUM	₹13,540 Cr
Expense Ratio	0.97%
Launch Date	01 Jan 2013
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	1% on or before 15D, NIL after 15D
Fund Managers	Vaibhav Dusad

The fund is managed by Vaibhav Dusad.

Source data date: as of 04 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-1.35%	-2.95%
3M	7.58%	2.27%
1Y	-5.83%	-4.43%
3Y	7.05%	5.88%
5Y	4.5%	6.29%

The recent pattern is mixed. Over 1 month, the fund declined less than the benchmark, but over 3 months it recovered much more strongly than the benchmark. That tells us the fund can snap back quickly after weakness, which is typical of a narrower thematic portfolio.

The 1-year return is still negative, so the recent run has not fully repaired the earlier weakness. The benchmark also fell over the same period, but by a smaller amount, which means the fund lagged on a 1-year view.

Over 3 years, the picture improves. The fund’s 7.05% return is ahead of the benchmark’s 5.88%, which suggests the strategy has worked better through a fuller market cycle than it did over the last year.

Over 5 years, however, the benchmark is ahead. That gap matters because it shows the fund has not consistently turned its sector focus into better long-term compounding. The time pattern also points to noticeable swings rather than a smooth climb, so the path to returns has been uneven.

Source data date: as of 04 Sep 2026

Should you BUY or HOLD ICICI Pru Technology?

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 Technology Fund Direct Growth Plan	-5.83%	7.05%	4.5%
ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan	71.27%	36.22%	Data not available
SBI Automotive Opportunities Fund Direct Growth Plan	30.18%	Data not available	Data not available
Kotak Healthcare Fund Direct Growth Plan	27.22%	Data not available	Data not available
HDFC Pharma and Healthcare Fund Direct Growth Plan	26.94%	Data not available	Data not available
Motilal Oswal Active Momentum Fund Direct Growth Plan	26.86%	Data not available	Data not available

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

On a 1-year view, the fund trails every peer listed here that has a published figure, and the gap is large. That short-term comparison reinforces the weak recent patch seen in the fund’s own return history. The fund’s 3-year return is positive and stronger than what is available for several peers on that horizon, but the only peer with a 3-year figure is far ahead. Over 5 years, the fund is well below the benchmark-style peers where the horizon is available, so the longer story is still one of uneven compounding rather than sustained leadership.

Source data date: as of 04 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Infosys Ltd.	IT	12.8%
Bharti Airtel Ltd.	Telecom	12.56%
Tech Mahindra Ltd.	IT	7.51%
Coforge Ltd.	IT	4.48%
Mphasis Ltd.	IT	4.41%
LTIMINDTREE Ltd.	IT	3.38%
Cognizant Tech Solutions	Overseas Equities	3.01%
Wipro Ltd.	IT	2.67%
Persistent Systems Ltd.	IT	2.54%
Sagility India Ltd	Business Services	2.39%

The top 10 holdings account for approximately 55.75% of the portfolio.

To see all holdings, visit the ICICI Pru Technology Fund Direct Growth Plan page

Infosys Ltd. is the largest holding at 12.8%, and Bharti Airtel Ltd. is close behind at 12.56%, so the fund begins with two positions that can meaningfully shape returns. The fall from the first two holdings to the tenth holding is fairly sharp, dropping to 2.39%, which shows that the visible portfolio is not evenly spread.

Because the top 10 already account for 55.75% of the portfolio and there are 45 disclosed holdings in total, the fund may still have a long tail, but the largest positions are likely to have greater influence on short-term moves. The mix also leans heavily toward IT names, with telecom and business services adding smaller layers of exposure, so theme rotation may matter a lot for the portfolio’s behaviour.

Source data date: as of 04 Sep 2026

Who should invest

This fund fits investors who can handle High Risk exposure and who are comfortable with a technology-led portfolio that may move more sharply than a broad equity fund. The 3-year return has improved, but the 1-year and 5-year numbers show that the path has not been smooth. That means the investment horizon should be long enough for theme cycles to play out, not short-term in nature.

The trade-off is clear: higher upside when the sector is in favour, but weaker resilience when that theme falls out of step with the market. Investors who want a steadier benchmark-like ride may find the return pattern and concentrated holdings less comfortable, while those who can accept volatility for sector exposure may see the structure as a reasonable fit.

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% on or before 15D, NIL after 15D. No exit load applies after the holding period.

Source data date: as of 04 Sep 2026

Frequently asked questions

What is the current NAV of ICICI Pru Technology Fund Direct Growth Plan?
The current NAV is ₹204.94 as of 04 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
Its 1-year return is -5.83%, the 3-year return is 7.05% and the 5-year return is 4.5%.

How does the fund compare with the benchmark?
Against the Nifty 50, it is behind over 1 year and 5 years, but ahead over 3 years and 3 months. That pattern points to a fund that can improve over a fuller cycle but has not delivered steady outperformance.

How does it compare with the peer funds listed here?
Its 1-year return trails the peer funds shown with published figures, while its 3-year return is mixed and its 5-year return remains lower where a 5-year figure is available. The short-term picture is much weaker than the stronger peer readings.

What is the minimum SIP amount?
The minimum SIP amount is ₹100.

Who manages the fund and what is the exit load?
Vaibhav Dusad manages the fund. The exit load is 1% on or before 15 days and nil after 15 days, with no exit load after the holding period.

Bottom line

ICICI Pru Technology Fund Direct Growth Plan has a mixed track record: the 3-year return is better than the 1-year result, but the 5-year outcome still trails the benchmark. Peer comparison shows a weak recent stretch against funds with published 1-year figures, while the portfolio remains concentrated in a small set of technology-linked names. That makes the fund better suited to investors who can accept a high-risk, theme-driven ride and who are comfortable with uneven returns rather than a smooth compounding pattern.

Published on 5 September 2026 at 4:53 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.