ICICI Prudential Equity Minimum Variance Fund
- NAV as on 6 Nov 2026
- ₹10.77+1.51%1 day
- Return since launch
- 3.9%
- 52-week range
- ₹9.61 — ₹11.20
- AUM
- ₹2,451 Cr
ICICI Prudential Equity Minimum Variance Fund is a Large Cap equity fund from ICICI Prudential Mutual Fund with ₹2,451 Cr under management, launched in 2024. The expense ratio is 2.89% and the SEBI riskometer reading is Very High.
Performance
ICICI Prudential Equity Minimum Variance Fund NAV and returns
Growth of the fund against its category average over the period you pick.
Over 1Y this fund returned +0.7% against 0.0% for its category.
Performance
Returns
How the fund has done against its category and its benchmark.
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1Y | 4.5% | +3.9 pts | 0.6% | 6.1% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | 7.0% | −1.0 pts | 7.9% | 8.7% |
| 3M | 0.5% | −0.3 pts | 0.8% | 0.2% |
| 6M | 1.9% | −1.8 pts | 3.7% | 5.3% |
| 1Y | 0.7% | +0.1 pts | 0.6% | -0.4% |
Since launch (18 Nov 2024): 3.9%
Calendar-year returns
Category averageShow as a table
| Period | Fund | vs category | Category |
|---|---|---|---|
| 2025 | 12.9% | +4.5 pts | 8.5% |
Returns over one year are annualised. Shorter periods are absolute.
Costs & terms
Costs and terms
What the fund charges each year, and the rules around putting money in and taking it out.
Costs
2.88%
Expense ratio as on 5 Nov 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 1.71%
- Brokerage
- 0.21%
- Transaction charges
- 0.02%
- Statutory levies
- 0.94%
- Exit load
- Exit load of 1% if redeemed within 1 month.
- Lock-in
- None
Terms
- Min SIP
- ₹3,000
- Min lumpsum
- ₹5,000
- Plan
- GROWTH
- Fund type
- OPEN-ENDED
- Benchmark
- Nifty 50 Total Return
- Short-term capital gains
- Returns taxed at 20% if you redeem before 1 year
- Long-term capital gains
- After 1 year, returns above ₹1.25 lakh in a financial year are taxed at 12.5%
Risk
Risk
What the riskometer means for this fund, and how its ratios sit against the category.
Your principal is treated as being at very high risk — typically small cap, sectoral and thematic equity schemes.
Portfolio
ICICI Prudential Equity Minimum Variance Fund portfolio
Portfolio as of 30 Sep 2026
Asset allocation
- Equity97.5%
- Debt6.5%
Market cap split
- Large100.0%
- P/E
- 18.65
- P/B
- 2.57
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| Kotak Mahindra Bank Ltd. | Financial | 9.70% | ₹238 Cr | +5.85% | +3.22% | +3.40% |
| Reliance Industries Ltd. | Energy | 9.69% | ₹237 Cr | +9.65% | +10.12% | +5.78% |
| HDFC Bank Ltd. | Financial | 8.56% | ₹210 Cr | +0.91% | +15.00% | +7.28% |
| ICICI Bank Ltd. | Financial | 7.03% | ₹172 Cr | +6.63% | -6.56% | +10.01% |
| Axis Bank Ltd. | Financial | 7.00% | ₹172 Cr | +5.28% | +3.19% | +3.31% |
| NTPC Ltd. | Energy | 4.87% | ₹119 Cr | +2.52% | +1.87% | +2.53% |
| ITC Ltd. | Consumer Staples | 4.82% | ₹118 Cr | +4.58% | +1.90% | +4.37% |
| Hindustan Unilever Ltd. | Consumer Staples | 4.60% | ₹113 Cr | +3.13% | 0.00% | +2.44% |
| State Bank of India | Financial | 4.31% | ₹106 Cr | +4.45% | — | +3.23% |
| Asian Paints Ltd. | Materials | 4.12% | ₹101 Cr | — | — | +2.81% |
| Reserve Bank of India | Financial | 2.86% | ₹70.00 Cr | — | — | +0.05% |
| HDFC Life Insurance Co Ltd. | Insurance | 2.55% | ₹62.54 Cr | +1.35% | -0.01% | +3.20% |
| Apollo Hospitals Enterprise Ltd. | Healthcare | 2.50% | ₹61.24 Cr | — | +2.43% | — |
| Bajaj Finserv Ltd. | Financial | 2.47% | ₹60.59 Cr | +3.86% | -0.44% | +3.20% |
| Tata Consumer Products Ltd. | Consumer Staples | 2.31% | ₹56.61 Cr | +1.18% | — | — |
| Larsen & Toubro Ltd. | Construction | 2.30% | ₹56.40 Cr | +1.29% | +2.15% | +2.28% |
| Bharti Airtel Ltd. | Communication | 2.28% | ₹55.92 Cr | +8.66% | -0.03% | +9.20% |
| Godrej Consumer Products Ltd. | Consumer Staples | 1.91% | ₹46.75 Cr | +0.35% | — | — |
| Bajaj Auto Ltd. | Automobile | 1.77% | ₹43.50 Cr | +4.05% | +5.53% | +1.66% |
| Life Insurance Corporation of India | Insurance | 1.61% | ₹39.52 Cr | — | +1.74% | +1.72% |
| Tata Consultancy Services Ltd. | Technology | 1.46% | ₹35.89 Cr | +2.60% | +2.07% | +4.22% |
| Shree Cement Ltd. | Materials | 1.36% | ₹33.21 Cr | — | — | — |
| Coal India Ltd. | Materials | 1.26% | ₹30.83 Cr | — | — | — |
| Grasim Industries Ltd. | Materials | 1.16% | ₹28.47 Cr | +3.55% | +3.75% | — |
| Power Grid Corporation Of India Ltd. | Energy | 1.16% | ₹28.36 Cr | +0.79% | +1.17% | +2.26% |
| Ultratech Cement Ltd. | Materials | 1.12% | ₹27.39 Cr | +1.83% | +2.33% | +2.20% |
| Bajaj Holdings & Investment Ltd. | Financial | 1.10% | ₹26.97 Cr | +1.08% | +0.55% | — |
| Trent Ltd. | Services | 1.07% | ₹26.22 Cr | — | — | +0.64% |
| Nestle India Ltd. | Consumer Staples | 1.07% | ₹26.20 Cr | +0.02% | — | +0.65% |
| Infosys Ltd. | Technology | 0.81% | ₹19.88 Cr | +2.08% | +4.95% | +6.58% |
| Britannia Industries Ltd. | Consumer Staples | 0.79% | ₹19.32 Cr | +2.50% | -0.36% | +0.77% |
| Oil And Natural Gas Corporation Ltd. | Energy | 0.53% | ₹12.99 Cr | +1.22% | +0.70% | +0.33% |
| Maruti Suzuki India Ltd. | Automobile | 0.24% | ₹5.93 Cr | — | +2.39% | +4.86% |
| Others | Others | -4.04% | ₹-98.91 Cr | +9.99% | +22.89% | +5.55% |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| Reliance Industries Ltd. | -0.01% | 9.69% | +9.70% |
| NTPC Ltd. | -0.00% | 4.87% | +4.88% |
| Asian Paints Ltd. | -0.00% | 4.12% | +4.12% |
| State Bank of India | 7.14% | 4.31% | -2.83% |
| Larsen & Toubro Ltd. | 5.08% | 2.30% | -2.78% |
| ICICI Bank Ltd. | 1.14% | 3.80% | +2.65% |
| Axis Bank Ltd. | 9.24% | 7.00% | -2.24% |
| Apollo Hospitals Enterprise Ltd. | 0.50% | 2.50% | +2.00% |
| Bajaj Auto Ltd. | 0.00% | 1.77% | +1.77% |
| Bharti Airtel Ltd. | 0.00% | 1.56% | +1.56% |
| HDFC Bank Ltd. | 2.61% | 1.33% | -1.28% |
| Ultratech Cement Ltd. | 2.36% | 1.12% | -1.24% |
| Dr. Reddy's Laboratories Ltd. | 1.17% | 0.00% | -1.17% |
| Grasim Industries Ltd. | 0.00% | 1.16% | +1.16% |
| Power Grid Corporation Of India Ltd. | 0.00% | 1.16% | +1.16% |
| company:442 | 1.15% | 0.00% | -1.15% |
| company:2290 | 1.13% | 0.00% | -1.13% |
| Nestle India Ltd. | 0.00% | 1.07% | +1.07% |
| Tata Consultancy Services Ltd. | 0.62% | 1.46% | +0.85% |
| Kotak Mahindra Bank Ltd. | 8.95% | 9.70% | +0.75% |
| company:14090 | 0.72% | 0.00% | -0.72% |
| Eicher Motors Ltd. | 0.60% | 0.00% | -0.60% |
| Tata Motors Passenger Vehicles Ltd. | 0.58% | 0.00% | -0.58% |
| Oil And Natural Gas Corporation Ltd. | 0.00% | 0.53% | +0.53% |
| ITC Ltd. | 4.30% | 4.82% | +0.52% |
| HDFC Life Insurance Co Ltd. | 3.03% | 2.55% | -0.48% |
| Hindustan Unilever Ltd. | 4.16% | 4.60% | +0.44% |
| Shree Cement Ltd. | 0.94% | 1.36% | +0.41% |
| Reserve Bank of India | 2.61% | 2.86% | +0.25% |
| Tata Consumer Products Ltd. | 2.12% | 2.31% | +0.19% |
| Bajaj Finserv Ltd. | 2.65% | 2.47% | -0.18% |
| Godrej Consumer Products Ltd. | 1.74% | 1.91% | +0.17% |
| Coal India Ltd. | 1.17% | 1.26% | +0.09% |
| Life Insurance Corporation of India | 1.56% | 1.61% | +0.05% |
| Infosys Ltd. | 0.85% | 0.81% | -0.04% |
| Others | 0.22% | 0.24% | +0.02% |
| Bajaj Holdings & Investment Ltd. | 1.09% | 1.10% | +0.01% |
| Maruti Suzuki India Ltd. | 0.25% | 0.24% | -0.01% |
| Trent Ltd. | 1.08% | 1.07% | -0.01% |
| Britannia Industries Ltd. | 0.79% | 0.79% | 0.00% |
Compare
Similar funds
The rest of the category, so this fund’s numbers have something to sit against.
| Fund | AUM | Expense | 1Y | 3Y | 5Y |
|---|---|---|---|---|---|
| Category average | ₹3,138 Cr | 2.31% | 9.8% | 6.9% | 11.2% |
 DSP Large Cap Fund | ₹6,642 Cr | 2.02% | 7.1% | 5.4% | 10.4% |
 Quant Large Cap Fund | ₹3,669 Cr | 2.75% | 9.9% | 5.8% | — |
 Bandhan Large Cap Fund | ₹2,098 Cr | 2.20% | 10.3% | 7.5% | 11.1% |
 Invesco India Large Cap Fund | ₹1,995 Cr | 2.14% | 14.1% | 8.9% | 12.2% |
 WhiteOak Capital Large Cap Fund | ₹1,287 Cr | 2.45% | 7.6% | 6.8% | — |
About
About this fund
The scheme’s own words, its benchmark and the people running it.
Investment objective
The scheme seeks to generate long term capital appreciation by investing in Equity & Equity related instruments through a diversified basket with an aim to minimize the portfolio volatility.
Fund managers
- Nitya MishraMs. Mishra has done B.Tech, MBA (Finance) and CFAPrior to joining ICIC Prudential Mutual Fund, she has worked with SBI Capital Markets and CRISIL Ltd.
Tools
Return calculator
What ₹10,000 a month in this fund would have grown to over each period, based on its past returns.
| Over the past | Total investment | Would’ve become | Growth | Returns |
|---|---|---|---|---|
| 6 months1.89% absolute | ₹60,000 | ₹61,134 | 1.89% | |
| 1 year0.65% annualised | ₹1,20,000 | ₹1,20,423 | 0.35% |
Returns for 1 year and longer are annualised (CAGR); 6-month figures are absolute. Past returns are not a forecast.
How this is calculated
Each monthly instalment grows at the fund’s annualised return ÷ 12 per month until the end of the period, the same formula as our SIP calculator.
The amount compounds once a year at the fund’s CAGR for that period, the same formula as our lumpsum calculator.
Questions
Frequently asked questions
The things people ask about this scheme.