ICICI Prudential Equity Minimum Variance Fund
- NAV as on 24 Sep 2026
- ₹10.13-1.65%1 day
- Return since launch
- 1.6%
- 52-week range
- ₹9.61 — ₹11.20
- AUM
- ₹2,672 Cr
ICICI Prudential Equity Minimum Variance Fund is a Large Cap equity fund from ICICI Prudential Mutual Fund with ₹2,672 Cr under management, launched in 2024. The expense ratio is 2.94% 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 -4.0% against -4.0% for its category.
Performance
Returns
How the fund has done against its category and its benchmark.
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1Y | -8.6% | −5.2 pts | -3.4% | -7.0% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | -4.2% | +0.4 pts | -4.6% | -5.0% |
| 3M | -3.6% | −1.4 pts | -2.2% | -2.6% |
| 6M | 1.5% | −2.0 pts | 3.5% | 2.6% |
| 1Y | -4.0% | −0.6 pts | -3.4% | -4.0% |
Since launch (18 Nov 2024): 1.6%
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
2.89%
Expense ratio as on 22 Sep 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 1.71%
- Brokerage
- 0.20%
- Transaction charges
- 0.02%
- Statutory levies
- 0.96%
- 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 31 Aug 2026
Asset allocation
- Equity96.1%
- Debt3.4%
- Other0.6%
Market cap split
- Large98.7%
- Mid1.3%
- P/E
- 17.67
- P/B
- 2.55
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| Reliance Industries Ltd. | Energy | 9.55% | ₹255 Cr | +19.06% | +2.27% | +11.46% |
| Axis Bank Ltd. | Financial | 9.24% | ₹247 Cr | +4.67% | -0.01% | +3.04% |
| HDFC Bank Ltd. | Financial | 9.24% | ₹247 Cr | +14.00% | +4.20% | +7.25% |
| Kotak Mahindra Bank Ltd. | Financial | 8.95% | ₹239 Cr | +5.32% | 0.00% | +2.00% |
| State Bank of India | Financial | 7.14% | ₹191 Cr | +6.59% | -0.78% | +2.96% |
| Larsen & Toubro Ltd. | Construction | 5.08% | ₹136 Cr | +3.14% | 0.00% | +3.14% |
| ICICI Bank Ltd. | Financial | 4.41% | ₹118 Cr | +1.22% | -0.03% | +10.34% |
| ITC Ltd. | Consumer Staples | 4.30% | ₹115 Cr | +3.53% | 0.00% | +4.44% |
| Asian Paints Ltd. | Materials | 4.17% | ₹111 Cr | — | +0.34% | +6.00% |
| Hindustan Unilever Ltd. | Consumer Staples | 4.16% | ₹111 Cr | +2.21% | -0.01% | +2.57% |
| NTPC Ltd. | Energy | 3.76% | ₹100 Cr | +3.97% | -0.02% | +4.85% |
| HDFC Life Insurance Co Ltd. | Insurance | 3.03% | ₹80.89 Cr | +2.15% | -0.01% | +3.25% |
| Bajaj Finserv Ltd. | Financial | 2.65% | ₹70.74 Cr | +4.47% | +3.74% | +3.04% |
| Reserve Bank of India | Financial | 2.61% | ₹69.71 Cr | — | — | +0.14% |
| Ultratech Cement Ltd. | Materials | 2.36% | ₹62.98 Cr | +2.36% | 0.00% | +2.27% |
| Tata Consumer Products Ltd. | Consumer Staples | 2.12% | ₹56.67 Cr | — | — | — |
| Godrej Consumer Products Ltd. | Consumer Staples | 1.74% | ₹46.47 Cr | — | — | — |
| company:5765 | Insurance | 1.56% | ₹41.80 Cr | +1.69% | +1.70% | +1.62% |
| Dr. Reddy's Laboratories Ltd. | Healthcare | 1.17% | ₹31.16 Cr | +1.78% | +1.24% | +1.95% |
| Coal India Ltd. | Materials | 1.17% | ₹31.15 Cr | — | — | — |
| company:442 | Financial | 1.15% | ₹30.77 Cr | — | — | — |
| company:2290 | Consumer Staples | 1.13% | ₹30.31 Cr | — | — | — |
| Bajaj Holdings & Investment Ltd. | Financial | 1.09% | ₹29.11 Cr | +1.04% | — | — |
| company:2105 | Services | 1.08% | ₹28.80 Cr | — | +1.63% | +0.73% |
| company:3471 | Materials | 0.94% | ₹25.21 Cr | — | — | — |
| Infosys Ltd. | Technology | 0.85% | ₹22.68 Cr | +5.56% | +2.78% | +6.68% |
| Britannia Industries Ltd. | Consumer Staples | 0.79% | ₹21.00 Cr | +2.49% | +2.42% | +0.75% |
| company:14090 | Services | 0.72% | ₹19.20 Cr | +1.51% | 0.00% | — |
| Tata Consultancy Services Ltd. | Technology | 0.62% | ₹16.53 Cr | +2.67% | -0.01% | +4.49% |
| Eicher Motors Ltd. | Automobile | 0.60% | ₹15.91 Cr | — | — | +0.68% |
| company:3902 | Automobile | 0.58% | ₹15.44 Cr | — | — | — |
| Others | Others | 0.56% | ₹15.05 Cr | +10.77% | +10.25% | +2.27% |
| company:233 | Healthcare | 0.50% | ₹13.35 Cr | +3.25% | +1.11% | — |
| Maruti Suzuki India Ltd. | Automobile | 0.25% | ₹6.71 Cr | — | 0.00% | +4.73% |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| Reliance Industries Ltd. | 9.91% | -0.01% | -9.93% |
| Larsen & Toubro Ltd. | -0.02% | 5.08% | +5.10% |
| ITC Ltd. | -0.01% | 4.30% | +4.31% |
| Asian Paints Ltd. | 3.40% | -0.00% | -3.40% |
| Sun Pharmaceutical Industries Ltd. | 3.16% | 0.00% | -3.16% |
| JSW Steel Ltd. | 2.58% | 0.00% | -2.58% |
| NTPC Ltd. | 2.50% | -0.00% | -2.50% |
| ICICI Bank Ltd. | 3.52% | 1.14% | -2.37% |
| Kotak Mahindra Bank Ltd. | 6.92% | 8.95% | +2.02% |
| Britannia Industries Ltd. | 2.67% | 0.79% | -1.89% |
| Grasim Industries Ltd. | 1.81% | 0.00% | -1.81% |
| HDFC Life Insurance Co Ltd. | 1.31% | 3.03% | +1.72% |
| Bajaj Auto Ltd. | 1.71% | 0.00% | -1.71% |
| company:5765 | 0.00% | 1.56% | +1.56% |
| Mahindra & Mahindra Ltd. | 1.31% | 0.00% | -1.31% |
| Axis Bank Ltd. | 8.02% | 9.24% | +1.22% |
| company:442 | 0.00% | 1.15% | +1.15% |
| company:2290 | 0.00% | 1.13% | +1.13% |
| company:2105 | 0.00% | 1.08% | +1.08% |
| Cholamandalam Investment and Finance Company Ltd. | 1.02% | 0.00% | -1.02% |
| company:3471 | 0.00% | 0.94% | +0.94% |
| Tata Consumer Products Ltd. | 1.20% | 2.12% | +0.92% |
| Eicher Motors Ltd. | 1.47% | 0.60% | -0.87% |
| Infosys Ltd. | -0.00% | 0.85% | +0.85% |
| Hindustan Unilever Ltd. | 3.34% | 4.16% | +0.83% |
| company:14090 | 0.00% | 0.72% | +0.72% |
| HDFC Bank Ltd. | 1.90% | 2.61% | +0.71% |
| Others | 0.92% | 0.22% | -0.69% |
| GAIL (India) Ltd. | 0.68% | 0.00% | -0.68% |
| Ultratech Cement Ltd. | 3.02% | 2.36% | -0.66% |
| Hyundai Motor India Ltd. | 0.63% | 0.00% | -0.63% |
| State Bank of India | 6.52% | 7.14% | +0.62% |
| company:3902 | 0.00% | 0.58% | +0.58% |
| Pidilite Industries Ltd. | 0.57% | 0.00% | -0.57% |
| company:233 | 0.00% | 0.50% | +0.50% |
| Bajaj Finserv Ltd. | 2.86% | 2.65% | -0.21% |
| Godrej Consumer Products Ltd. | 1.95% | 1.74% | -0.21% |
| Reserve Bank of India | 2.45% | 2.61% | +0.16% |
| Bajaj Holdings & Investment Ltd. | 1.18% | 1.09% | -0.09% |
| Dr. Reddy's Laboratories Ltd. | 1.09% | 1.17% | +0.07% |
| Tata Consultancy Services Ltd. | 0.57% | 0.62% | +0.04% |
| Coal India Ltd. | 1.13% | 1.17% | +0.03% |
| Maruti Suzuki India Ltd. | 0.25% | 0.25% | 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 | ₹1,872 Cr | 2.51% | -0.5% | 4.7% | 9.6% |
 Quant Large Cap Fund | ₹3,651 Cr | 2.93% | 4.4% | 5.2% | — |
 Bandhan Large Cap Fund | ₹2,180 Cr | 2.19% | -3.7% | 4.0% | 9.1% |
 Invesco India Large Cap Fund | ₹2,021 Cr | 2.19% | 1.5% | 5.9% | 10.4% |
 WhiteOak Capital Large Cap Fund | ₹1,276 Cr | 2.48% | -5.5% | 3.5% | — |
 Bank of India Large Cap Fund | ₹231 Cr | 2.75% | 0.6% | 4.6% | 9.4% |
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 months1.50% absolute | ₹60,000 | ₹60,900 | 1.50% | |
| 1 year−3.98% annualised | ₹1,20,000 | ₹1,17,444 | −2.13% |
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.