ICICI Prudential Equity Minimum Variance Fund
ICICI Prudential Mutual Fund · Best Sectoral & Thematic Mutual Funds
This is the Regular plan of ICICI Prudential Equity Minimum Variance Fund — bought through a distributor, whose commission is paid out of its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.
Performance
Scorecard
★★☆☆☆2/5 vs 229 of 255 Sectoral/ Thematic peers1Y- 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 Sectoral/ Thematic (same plan and option). Based on a 1-year record — this fund is too young for a 3-year CAGR, so its performance is ranked on 1Y against the same peers. 229 of the 255 Sectoral/ Thematic funds in this cohort carry the full record the stars need, so they are the ones ranked against.
Not enough Sectoral/ Thematic peers to rank yet
Volatility 11.5% vs 15.6% category avg
2.9% expense vs 2.5% category avg
Not enough history for a rolling 3Y view
Strengths & concerns
Generated from this fund's own numbers against its sub-category — each point names the figure behind it.
Strengths
- Less volatile than its Sectoral/ Thematic peers (11.5% vs 15.6%)
Concerns
- Trails the Sectoral/ Thematic average on 3M/6M/1Y — 1Y by 7.71pp
- High expense ratio (2.87%) vs the Sectoral/ Thematic average of 2.46%
Key Metrics
Scheme Info
DefinitionsPeriod returns (<1Y, absolute — not annualized)
DefinitionsAnnualized returns (≥1Y — CAGR)
DefinitionsAdvanced metrics — risk and benchmark ratios
Fund vs category average (Sectoral/ Thematic)
| Period | Fund | Category avg. | Diff |
|---|---|---|---|
| 1M abs | -5.43% | -5.07% | -0.36% |
| 3M abs | -4.98% | -2.35% | -2.63% |
| 6M abs | +2.27% | +10.89% | -8.62% |
| 1Y CAGR | -5.43% | +2.28% | -7.71% |
| 3Y CAGR | — | +12.20% | — |
| 5Y CAGR | — | +10.99% | — |
Category average across peers in Sectoral/ Thematic (254 of 255 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 255 peers in Sectoral/ Thematic
Backtest this fund
What a SIP or one-time investment would have grown to over this fund’s real NAV history.
12 monthly installments of ₹10,000 into ICICI Prudential Equity Minimum Variance 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 500 TRI | Diff | |
|---|---|---|---|---|
| 2026part | -10.38% | -7.18% | -3.20% | |
| 2025 | +12.95% | +7.94% | +5.01% | |
| 2024part | -2.00% | — | — |
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.
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- Equity88.40%
- Cash & Equivalents8.25%
- Debt3.35%
Fund size over time
Quarterly average AUM · AMFIDown +16% from its peak of ₹3,508Cr in January - March 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
ASAatur ShahManaging since 05 Feb 2026
Fund Manager – MF Equity
Over 10 years
Chartered Accountant, Chartered Financial Analyst (CFA) and B.Com
Mr. Aatur started his career with ICICI Prudential Asset Management Company Limited in October 2014. Past Experience: ~ ICICI Prudential Asset Management Company Limited – Product Development & Strategy – October 2014 till February 2020 ~ ICICI Prudential Asset Management Company Limited – Research Analyst – February 2020 till April 2025.
NMNitya MishraManaging since 06 Dec 2024
Fund Manager – MF Equity
Over 13 years
Chartered Financial Analyst (CFA), PGDM – Finance from Xavier Institute of Management, Bhubaneswar, Bachelor of Technical Engineering in Electronics Communication NIT Bhopal.
She is associated with ICICI Prudential Asset Management Company in Limited from September 2016. She is involved in economics research, strategy research and business cycle research. She had joined the AMC in May 2018 as a Senior – Manager in the Risk Management Department of the AMC. & She has been appointed as a fund manager of certain schemes of the fund from July 2024. Past Experience: ~ SBI Capital Markets Limited - Manager-April 2015 to April 2018. ~ Crisil Limited – Senior Rating Analyst- April 2012 to March 2015. ~ Fidelity Investments Private Limited- Intern - April 2011 to June 2011. ~ DXC Technology Application Developer April 2008 to June 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 Sectoral & Thematic funds
Sectoral and thematic funds must keep at least 80% in the equity of one sector (banking, pharma, technology) or one theme (consumption, manufacturing, ESG). That concentration is the point and the risk: with no mandate to diversify away from the sector, the fund rises and falls with it.
Frequently asked questions
What is the NAV of ICICI Prudential Equity Minimum Variance Fund?
As of 01 Oct 2026, the NAV of ICICI Prudential Equity Minimum Variance Fund is ₹9.93 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.
What returns has ICICI Prudential Equity Minimum Variance Fund delivered?
ICICI Prudential Equity Minimum Variance Fund has returned -5.43% over 1 year and -0.44% 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 Equity Minimum Variance Fund?
ICICI Prudential Equity Minimum Variance Fund charges an expense ratio of 2.87% 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 Equity Minimum Variance Fund?
ICICI Prudential Equity Minimum Variance Fund's largest holdings are Reliance Industries Ltd. (9.6%), Axis Bank Ltd. (9.2%), Kotak Mahindra Bank Ltd. (8.9%), State Bank Of India (7.1%) and HDFC Bank Ltd. (6.6%). Holdings are disclosed monthly and change over time.
How risky is ICICI Prudential Equity Minimum Variance Fund?
ICICI Prudential Equity Minimum Variance Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 11.5% and its worst peak-to-trough fall in our sample was -14.2%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.
What is the benchmark of ICICI Prudential Equity Minimum Variance Fund?
ICICI Prudential Equity Minimum Variance Fund is benchmarked against the Nifty 50 TRI. Its alpha and beta on this page are measured against that index.
Who manages ICICI Prudential Equity Minimum Variance Fund?
ICICI Prudential Equity Minimum Variance Fund is managed by Aatur Shah and Nitya Mishra at ICICI Prudential.
How is ICICI Prudential Equity Minimum Variance Fund taxed?
ICICI Prudential Equity Minimum Variance 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.