ICICI Prudential Pharma Healthcare and Diagnostics (P.H.D) Fund Analyst Review: NAV, Returns and Key Insights 2026

The ICICI Prudential Pharma Healthcare and Diagnostics (P.H.D) Fund Direct Growth plan has returned 10.19% over the past year, reflecting conditions in its investment segment. With a NAV of Rs 45.57 and an AUM of Rs 6,668.95 crore, the fund continues to maintain investor interest. This analyst review covers performance history, expense ratio, associated risks, and investment suitability for 2026.

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What Is the ICICI Prudential Pharma Healthcare and Diagnostics (P.H.D) Fund?

The ICICI Prudential Pharma Healthcare and Diagnostics (P.H.D) Fund is a Sectoral/Thematic equity fund concentrating its portfolio around a specific sector, industry, or investment theme. Thematic funds offer high-conviction, focused exposure that can generate outsized returns when the theme performs well but also amplifies drawdowns during adverse cycles. The fund carries a Very High risk rating and is best used as a satellite allocation within a diversified portfolio.

ICICI Prudential Pharma Healthcare and Diagnostics (P.H.D) Fund NAV and AUM

The current NAV of the ICICI Prudential Pharma Healthcare and Diagnostics (P.H.D) Fund Direct Growth plan is Rs 45.57. NAV is updated each trading day and reflects the closing market prices of the fund’s underlying securities. Always verify the most recent NAV on the AMC website or a registered mutual fund platform before placing any transaction.

The fund manages a substantial AUM of Rs 6,668.95 crore, one of the larger pools in its category, reflecting strong and sustained investor confidence in its investment strategy. Investors should track AUM trends alongside performance metrics when evaluating this fund.

ICICI Prudential Pharma Healthcare and Diagnostics (P.H.D) Fund Returns: Performance Snapshot

Period	Returns
1 Month	9.06%
3 Months	7.98%
1 Year	10.19%
3 Years (Annualised)	29.78%
5 Years (Annualised)	17.01%

The ICICI Prudential Pharma Healthcare and Diagnostics (P.H.D) Fund has returned 10.19% over the past year and 7.98% over three months, reflecting softer conditions in its investment segment. Investors evaluating this fund should compare returns against the benchmark and category peers, and ensure they have a sufficient time horizon to absorb any further periods of subdued performance before committing capital.

Expense Ratio and Cost Efficiency

The ICICI Prudential Pharma Healthcare and Diagnostics (P.H.D) Fund Direct Growth plan carries an expense ratio of 0.86% per annum, in line with the average for actively managed funds in its category. This expense level reflects the cost of professional portfolio management. Investors should weigh this cost against the fund’s performance consistency and risk-adjusted returns when making their evaluation.

Who Should Invest in ICICI Prudential Pharma Healthcare and Diagnostics (P.H.D) Fund?

The ICICI Prudential Pharma Healthcare and Diagnostics (P.H.D) Fund suits investors with high conviction in the specific sector or theme the fund targets, combined with a Very High risk appetite and a minimum 5 to 7-year horizon. The minimum SIP is Rs 100 and minimum lumpsum is Rs 5000. Thematic funds should be used as satellite allocations of 10 to 15 percent rather than as core holdings. Investors without a specific view on the underlying theme should avoid this fund.

Key Risks to Consider

Concentration Risk: Thematic funds invest in a narrow market segment. A structural or cyclical downturn in the specific sector or theme provides limited diversification away from the adverse impact.

Timing Risk: Entry at peak valuations during a theme’s popularity can result in extended periods of underperformance. Thematic funds are highly sensitive to investor entry and exit timing.

Regulatory Risk: Sectors such as defence, pharma, and energy can be significantly impacted by government policy changes or regulatory shifts that are difficult to predict in advance.

Valuation Risk: Elevated valuations in the underlying investment universe can reduce future return potential even if the fundamental business performance of portfolio companies remains strong.

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Conclusion

The ICICI Prudential Pharma Healthcare and Diagnostics (P.H.D) Fund has delivered modest returns in a challenging environment, but its expense ratio of 0.86% and AUM of Rs 6,668.95 crore reflect a cost-efficient and investor-supported structure. Those already holding this fund should review the underlying investment thesis. New investors should ensure they have a sufficient horizon before committing capital. Consult a SEBI-registered investment advisor before any allocation change.

Investments in securities are subject to market risk. This content is for educational purposes only and does not constitute investment advice.

Frequently Asked Questions

What is the current NAV of ICICI Prudential Pharma Healthcare and Diagnostics (P.H.D) Fund?

Ans. The current NAV of the ICICI Prudential Pharma Healthcare and Diagnostics (P.H.D) Fund Direct Growth plan is Rs 45.57. NAV is updated each trading day and reflects the closing market value of the fund’s underlying holdings. Always verify the most recent NAV on the AMC website or a SEBI-registered mutual fund platform before transacting.

What are the returns of ICICI Prudential Pharma Healthcare and Diagnostics (P.H.D) Fund?

Ans. The fund has delivered a 1-year return of 10.19% and a 3-month return of 7.98%. The 3-year annualised return is 29.78% and the 5-year annualised return is 17.01%. Past performance does not guarantee future results and should be evaluated alongside the fund’s risk profile and benchmark comparison.

What is the expense ratio of ICICI Prudential Pharma Healthcare and Diagnostics (P.H.D) Fund Direct Growth?

Ans. The expense ratio of the ICICI Prudential Pharma Healthcare and Diagnostics (P.H.D) Fund Direct Growth plan is 0.86% per annum. The direct plan eliminates distributor commissions and is more cost-efficient than the regular plan. Investors should always opt for the direct plan to maximise long-term net returns through the compounding advantage of lower costs.

Is this fund suitable for conservative investors?

Ans. No. This fund carries a Very High risk rating due to concentrated exposure to a specific market segment or investment theme. It is not suitable for conservative investors or those with short investment timelines. A minimum 5 to 7-year horizon and a high risk tolerance are required prerequisites. Consult a SEBI-registered investment advisor before investing.

What is the minimum SIP amount for this fund?

Ans. The minimum monthly SIP is Rs 100 and the minimum lumpsum investment is Rs 5000. The low entry thresholds make the fund accessible across income levels. A regular SIP approach is recommended to average out entry costs over time, particularly given the high-volatility nature of this fund’s category.

What category and sub-category does this fund belong to?

Ans. This fund is a Sectoral/Thematic equity fund with a focused portfolio aligned to a specific sector or theme. It falls under the Sectoral / Thematic sub-category and is available as a direct growth plan, which eliminates distributor commissions and typically offers superior net returns compared to the regular plan.