ICICI Prudential Nifty Bank Index Fund
This is the Direct plan of ICICI Prudential Nifty Bank Index Fund — bought from the fund house, with no distributor commission in its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.
Performance
Scorecard
★★★☆☆3/5 vs 175 of 381 Index Funds peers- Performance 60%
- Risk 15%
- Cost 10%
- Downside 15%
How this is computed
Each verdict is computed from this fund's own metrics against its sub-category — the number behind it is shown, not a black-box rating. The stars weight the same ground 60/15/10/15 (performance/risk/cost/downside) across every fund in the peer group. Ranked within Index Funds (same plan and option). 175 of the 381 Index Funds in this cohort carry the full record the stars need, so they are the ones ranked against.
3Y CAGR +7.93% · ranks 64 of 175 Index Funds
Volatility 16.1% vs 12.3% category avg
0.2% expense vs 0.5% category avg
100% of rolling 3Y windows were positive
Strengths & concerns
Generated from this fund's own numbers against its sub-category — each point names the figure behind it.
Strengths
- Low expense ratio (0.22%) vs the Index Funds average of 0.50%
- Consistent — positive in 100% of rolling 3-year windows
Concerns
- Trails the Index Funds average on 1M/3M/1Y — 1Y by 1.07pp
- 3-year return (+7.93%) trails the Index Funds average (+9.25%)
- Weaker risk-adjusted returns — Sharpe 0.09 below the Index Funds average of 0.47
- More volatile than its Index Funds peers (16.1% vs 12.3%)
Key Metrics
Scheme Info
DefinitionsPeriod returns (<1Y, absolute — not annualized)
DefinitionsAnnualized returns (≥1Y — CAGR)
DefinitionsAdvanced metrics — risk and benchmark ratios
Fund vs category average (Index Funds)
| Period | Fund | Category avg. | Diff |
|---|---|---|---|
| 1M abs | -4.65% | -3.92% | -0.73% |
| 3M abs | -5.43% | -3.17% | -2.26% |
| 6M abs | +6.70% | +5.90% | +0.80% |
| 1Y CAGR | -1.15% | -0.08% | -1.07% |
| 3Y CAGR | +7.93% | +9.25% | -1.32% |
| 5Y CAGR | — | +8.29% | — |
Category average across peers in Index Funds (376 of 381 carry a figure for at least one period), same plan and option, excluding this fund. Under-1-year figures are absolute; 1Y and beyond are annualised (CAGR).
Not sure what a figure means? The glossary explains every metric, and the methodology shows the formulas.
Category rank
Vs 381 peers in Index Funds
Backtest this fund
What a SIP or one-time investment would have grown to over this fund’s real NAV history.
36 monthly installments of ₹10,000 into ICICI Prudential Nifty Bank Index Fund, valued at the latest NAV. XIRR annualizes for each installment’s timing.
Calendar-year returns
What the fund actually returned in each year, not the smoothed average.
| Year | Fund | Nifty Bank TRI | Diff | |
|---|---|---|---|---|
| 2026part | -7.73% | -7.52% | -0.21% | |
| 2025 | +17.81% | +18.31% | -0.50% | |
| 2024 | +5.98% | +6.24% | -0.26% | |
| 2023 | +12.90% | +13.20% | -0.30% | |
| 2022part | +22.95% | — | — |
January–December, from this fund's NAV history. Absolute return, not annualised. “part” marks a year the fund didn't run end to end — its first year, the current year so far, or one it stopped reporting in; those years show no benchmark comparison.
Recent changes
Expense-ratio, fund-manager, exit-load and minimum-investment changes we've picked up in the last 30 days.
- Fund manager change — now managed by Darshil Dedhia, Rohit Lakhotia; Nishit Patel, Ajaykumar Solanki, Ashwini Bharucha, Venus Ahuja stepped away25 Sep 2026
Taxation
Taxed as equityThis is an equity-oriented fund (≥65% in Indian equities), so gains get the concessional capital-gains rates below — they do not add to your income-tax slab.
Flat, on the whole gain
On gains above ₹1.25 L per financial year
Applies to capital gains on redemption. Excludes IDCW/dividend tax, STT, surcharge and cess, and pre-2018 equity grandfathering. For research only — consult a tax advisor before filing.
Asset allocation
As on 31 Aug 2026 · AMC disclosure- Equity99.91%
- Cash & Equivalents0.09%
Fund size over time
Quarterly average AUM · AMFIAt or near its largest, ₹722.94Cr in April - June 2026. Size matters most where the mandate is narrow — a large small-cap or a very large flexi-cap book is harder to move without moving the price.
Net flow is an estimate: AMFI publishes a quarterly average AUM, not a closing balance, and it covers every plan and option of this scheme together, so it is a read on direction and rough size rather than a cash-flow statement.
AMC Profile
ICICI Prudential Mutual Fund is a joint venture between ICICI Bank and Prudential plc of the UK, in business since 1993. It is among India's largest houses by assets and runs one of the industry's widest scheme line-ups across equity, debt and hybrid.
Fund Managers
DDDarshil DedhiaStart date not disclosed
Fund Manager – Fixed Income
Chartered Accountant, Chartered Financial Analyst (CFA) and B.Com
He started his career with ICICI Prudential Asset in January 2013 and has experience of over 12 years. Past Experience: ~ ICICI Prudential Asset Management Company Limited – Investments – Mutual Fund Debt – August 9, 2018 till date. ~ ICICI Prudential Asset Management Company Limited – Fund Accounting – February 9, 2016 till August 8, 2018. ~ ICICI Prudential Asset Management Company Limited – Investments – Fixed Income – May 25, 2015 to Feb 8, 2016. ~ ICICI Prudential Asset Management Company Limited – Fund Accounting – January 22, 2013 to May 24, 2015.
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RLRohit LakhotiaStart date not disclosed
Fund Manager – Fixed Income
Bachelor of Technology (Honors) Electrical Engineering from NIT Rourkela and MBA from Indian Institute of Management (IIM), Mumbai and Chartered Financial Analyst (CFA)
Mr. Rohit Lakhotia is associated with ICICI Prudential Asset Management Company Limited from May 2016. He was appointed as Fund Manager with effect from June 12, 2023. He has over 14 years of experience. Past Experience: Yes Bank Limited – Corporate Banking – May 2012 to May 2016 Samsung India(R&D) Centre, Noida – Senior R&D Engineer – July 2008 – July 2010.
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Fund managers from the AMC's filed Scheme Summary — its most recent filing for this scheme. Benchmark and dealing terms from it and this scheme's SEBI-filed Scheme Information Document on AMFI. Each manager's qualifications and role are reconciled across every filing this fund house makes for them, including its Statement of Additional Information. Total AUM via AMFI.
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Returns and risk are computed from NAV history and may differ slightly from other portals due to methodology (rolling vs point-to-point, dividend treatment). For research only — not investment advice.
About Index funds & ETFs
Index funds and ETFs must keep at least 95% in the securities of the index they track, rather than trying to beat it. They charge far lower fees than active funds, and their return is the index's return minus that small cost and any tracking difference.
Frequently asked questions
What is the NAV of ICICI Prudential Nifty Bank Index Fund?
As of 05 Oct 2026, the NAV of ICICI Prudential Nifty Bank Index Fund is ₹15.80 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.
What returns has ICICI Prudential Nifty Bank Index Fund delivered?
ICICI Prudential Nifty Bank Index Fund has returned -1.15% over 1 year, +7.93% per year over 3 years and +10.77% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.
What is the expense ratio of ICICI Prudential Nifty Bank Index Fund?
ICICI Prudential Nifty Bank Index Fund charges an expense ratio of 0.22% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.
What are the top holdings of ICICI Prudential Nifty Bank Index Fund?
ICICI Prudential Nifty Bank Index Fund's largest holdings are HDFC Bank Ltd. (17.0%), ICICI Bank Ltd. (14.8%), State Bank Of India (10.3%), Kotak Mahindra Bank Ltd. (9.9%) and Axis Bank Ltd. (9.2%). Holdings are disclosed monthly and change over time.
How risky is ICICI Prudential Nifty Bank Index Fund?
ICICI Prudential Nifty Bank Index Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 16.1% and its worst peak-to-trough fall in our sample was -18.3%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.
What does the Sharpe ratio of 0.09 mean?
The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. ICICI Prudential Nifty Bank Index Fund's 0.09 means it has rewarded its volatility with excess return. Higher is better.
What is the benchmark of ICICI Prudential Nifty Bank Index Fund?
ICICI Prudential Nifty Bank Index Fund is benchmarked against the Nifty SDL Sep 2027 Index. Its alpha and beta on this page are measured against that index.
Who manages ICICI Prudential Nifty Bank Index Fund?
ICICI Prudential Nifty Bank Index Fund is managed by Darshil Dedhia and Rohit Lakhotia at ICICI Prudential.
How is ICICI Prudential Nifty Bank Index Fund taxed?
ICICI Prudential Nifty Bank Index Fund is an equity-oriented fund, so its capital gains get concessional rates: short-term gains (units held under 1 year) are taxed at 20%, and long-term gains (held 1 year or more) at 12.5% above a ₹1.25 lakh per-year exemption. These rates apply on redemption and don't add to your income-tax slab.