ICICI Prudential Innovation Fund
Thematic-InnovationVery HighOPEN-ENDED
- NAV as on 25 Sep 2026
- ₹19.17+0.10%1 day
- Return since launch
- 20.9%
- 52-week range
- ₹16.52 — ₹19.86
- AUM
- ₹8,012 Cr
ICICI Prudential Innovation Fund is a Thematic-Innovation equity fund from ICICI Prudential Mutual Fund with ₹8,012 Cr under management, launched in 2023. Over three years it has returned 9.2% a year, against 17.1% for its category. The expense ratio is 2.14% and the SEBI riskometer reading is Very High.
Performance
ICICI Prudential Innovation Fund NAV and returns
Growth of the fund against its category average over the period you pick.
Over 1Y this fund returned +4.1% against +8.5% for its category.
Performance
Returns
How the fund has done against its category and its benchmark.
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1Y | 5.0% | −4.9 pts | 9.9% | 14.5% |
| 2Y | 5.8% | −5.2 pts | 10.9% | 10.1% |
| 3Y | 9.2% | −7.9 pts | 17.1% | 11.3% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | -3.5% | −1.0 pts | -2.5% | -2.9% |
| 3M | 2.1% | −3.5 pts | 5.6% | 4.2% |
| 6M | 13.6% | −8.9 pts | 22.5% | 20.5% |
| 1Y | 4.1% | −5.9 pts | 9.9% | 8.6% |
| 2Y | 1.1% | −1.3 pts | 2.4% | 2.6% |
| 3Y | 17.7% | +0.6 pts | 17.1% | 15.8% |
Since launch (10 Apr 2023): 20.9%
Calendar-year returns
Category average28.3%
10.8%
Show as a table
| Period | Fund | vs category | Category |
|---|---|---|---|
| 2025 | 10.8% | +8.4 pts | 2.4% |
| 2024 | 28.3% | −0.6 pts | 28.8% |
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
2.18%
Expense ratio as on 24 Sep 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 1.53%
- Brokerage
- 0.10%
- Transaction charges
- 0.01%
- Statutory levies
- 0.54%
- 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 500 TRI
- 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.
Very High
Your principal is treated as being at very high risk — typically small cap, sectoral and thematic equity schemes.
| Ratio | Fund | Category avg | Read as |
|---|---|---|---|
| Alpha | 6.79 | 6.45 | Return earned above what the benchmark alone would have given. Higher is better. |
| Beta | 0.94 | 0.86 | How hard the fund moves when the market moves. Under 1 is steadier than the market. |
| Sharpe | 0.89 | 0.83 | Return earned for each unit of total risk taken. Higher is better. |
| Sortino | 1.13 | 1.16 | Return earned for each unit of downside risk. Higher is better. |
| Std. deviation | 14.93 | 14.96 | How widely monthly returns have varied around their own average. Lower is steadier. |
| Average of 4 category peers | |||
Portfolio
ICICI Prudential Innovation Fund portfolio
Portfolio as of 31 Aug 2026
Asset allocation
- Equity97.1%
- Debt0.6%
- Other2.3%
Market cap split
- Large37.4%
- Mid30.5%
- Small32.1%
- P/E
- 25.16
- P/B
- 4.30
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| ICICI Bank Ltd. | Financial | 5.67% | ₹454 Cr | +9.23% | +10.08% | +11.29% |
| Eternal Ltd. | Services | 3.84% | ₹308 Cr | +2.54% | +2.13% | +1.19% |
| Maruti Suzuki India Ltd. | Automobile | 3.64% | ₹291 Cr | +4.61% | +4.19% | +3.29% |
| Axis Bank Ltd. | Financial | 2.88% | ₹231 Cr | +3.06% | +3.01% | +3.32% |
| Sagility Ltd. | Services | 2.80% | ₹224 Cr | +2.36% | +2.02% | +1.66% |
| Bharti Hexacom Ltd. | Communication | 2.78% | ₹223 Cr | +1.83% | — | — |
| Swiggy Ltd. | Services | 2.52% | ₹202 Cr | +1.99% | +2.31% | — |
| Others | Others | 2.28% | ₹182 Cr | +4.31% | +2.09% | +1.36% |
| Cummins India Ltd. | Capital Goods | 2.24% | ₹179 Cr | +0.42% | — | +2.07% |
| TVS Motor Company Ltd. | Automobile | 2.11% | ₹169 Cr | +2.63% | +2.05% | +2.74% |
| 360 One Wam Ltd. | Financial | 1.97% | ₹158 Cr | +2.65% | +2.58% | +2.03% |
| Vijaya Diagnostic Centre Ltd. | Healthcare | 1.87% | ₹150 Cr | +1.86% | +1.65% | +1.02% |
| Dr. Reddy's Laboratories Ltd. | Healthcare | 1.86% | ₹149 Cr | +2.26% | +1.04% | +1.17% |
| Divi's Laboratories Ltd. | Healthcare | 1.85% | ₹148 Cr | +1.40% | +1.53% | +0.99% |
| Hexaware Technologies Ltd. | Technology | 1.79% | ₹143 Cr | +2.01% | +1.27% | — |
| Multi Commodity Exchange Of India Ltd. | Services | 1.78% | ₹142 Cr | +1.19% | — | — |
| Capillary Technologies India Ltd. | Technology | 1.75% | ₹141 Cr | +1.09% | +0.83% | — |
| Apollo Hospitals Enterprise Ltd. | Healthcare | 1.71% | ₹137 Cr | +1.41% | +1.76% | — |
| Blue Star Ltd. | Consumer Discretionary | 1.69% | ₹136 Cr | +1.70% | +2.59% | +1.29% |
| Info Edge (India) Ltd. | Services | 1.63% | ₹131 Cr | +1.89% | +2.10% | +2.51% |
| Mphasis Ltd. | Technology | 1.62% | ₹130 Cr | +1.75% | +2.71% | — |
| Hindustan Aeronautics Ltd. | Capital Goods | 1.61% | ₹129 Cr | +1.83% | +2.50% | — |
| Medplus Health Services Ltd. | Healthcare | 1.60% | ₹128 Cr | +1.16% | — | — |
| GE Vernova T&D India Ltd | Capital Goods | 1.60% | ₹128 Cr | +1.20% | — | — |
| Tata Motors Passenger Vehicles Ltd. | Automobile | 1.55% | ₹124 Cr | +2.18% | +2.84% | — |
| Bharti Airtel Ltd. | Communication | 1.48% | ₹119 Cr | +2.02% | — | — |
| Computer Age Management Services Ltd. | Services | 1.40% | ₹112 Cr | +2.76% | +3.23% | +2.04% |
| Oil India Ltd. | Energy | 1.30% | ₹104 Cr | +1.79% | — | — |
| ZF Commercial Vehicle Control Systems India Ltd. | Automobile | 1.30% | ₹104 Cr | +1.95% | +1.60% | — |
| company:20325 | Services | 1.28% | ₹103 Cr | — | — | — |
| BlackBuck Ltd. | Services | 1.25% | ₹100 Cr | +1.07% | — | — |
| Godrej Consumer Products Ltd. | Consumer Staples | 1.24% | ₹99.27 Cr | +1.49% | +2.01% | +2.30% |
| Larsen & Toubro Ltd. | Construction | 1.24% | ₹99.04 Cr | +1.34% | +1.66% | +2.40% |
| Sun Pharmaceutical Industries Ltd. | Healthcare | 1.22% | ₹97.96 Cr | +1.67% | +2.08% | +2.48% |
| Cohance Lifesciences Ltd. | Healthcare | 1.19% | ₹95.18 Cr | +1.21% | +0.86% | — |
| company:2310 | Financial | 1.17% | ₹93.81 Cr | — | — | — |
| Angel One Ltd. | Financial | 1.17% | ₹93.73 Cr | +0.51% | — | — |
| Coforge Ltd. | Technology | 1.16% | ₹93.18 Cr | +2.16% | +2.19% | — |
| company:19129 | Healthcare | 1.10% | ₹87.78 Cr | — | — | — |
| RateGain Travel Technologies Ltd. | Technology | 1.09% | ₹87.63 Cr | +0.42% | — | — |
| Hyundai Motor India Ltd. | Automobile | 0.96% | ₹77.18 Cr | +0.70% | — | +1.86% |
| AIA Engineering Ltd. | Metals & Mining | 0.93% | ₹74.69 Cr | +0.39% | — | +1.16% |
| company:2244 | Automobile | 0.90% | ₹72.20 Cr | — | +1.29% | +3.25% |
| Zensar Technologies Ltd. | Technology | 0.88% | ₹70.27 Cr | +1.14% | +1.30% | +1.06% |
| company:8372 | Healthcare | 0.87% | ₹69.83 Cr | — | — | — |
| company:505 | Capital Goods | 0.87% | ₹69.55 Cr | — | — | — |
| Biocon Ltd. | Healthcare | 0.86% | ₹68.65 Cr | +1.28% | +1.70% | — |
| Devyani International Ltd. | Services | 0.86% | ₹68.57 Cr | — | — | — |
| CG Power and Industrial Solutions Ltd. | Capital Goods | 0.85% | ₹67.87 Cr | +0.42% | — | — |
| NTPC Ltd. | Energy | 0.82% | ₹65.48 Cr | +2.07% | +2.57% | +1.50% |
| Manipal Health Enterprises Ltd. | Healthcare | 0.81% | ₹64.57 Cr | — | — | — |
| Amagi Media Labs Ltd. | Technology | 0.78% | ₹62.58 Cr | +0.96% | +0.51% | — |
| company:19686 | Healthcare | 0.77% | ₹61.58 Cr | — | — | — |
| Thyrocare Technologies Ltd. | Healthcare | 0.75% | ₹60.40 Cr | +1.16% | +0.95% | — |
| company:20312 | Consumer Discretionary | 0.75% | ₹60.35 Cr | — | — | — |
| Safari Industries (India) Ltd. | Consumer Discretionary | 0.73% | ₹58.71 Cr | +0.62% | — | — |
| Max Healthcare Institute Ltd. | Healthcare | 0.71% | ₹57.22 Cr | +1.45% | +1.68% | — |
| Sapphire Foods India Ltd. | Services | 0.70% | ₹56.16 Cr | — | — | — |
| Ivalue Infosolutions Ltd. | Technology | 0.67% | ₹53.68 Cr | +0.87% | +0.80% | — |
| Ashok Leyland Ltd. | Automobile | 0.66% | ₹53.25 Cr | — | — | — |
| Astrazeneca Pharma India Ltd. | Healthcare | 0.66% | ₹52.99 Cr | +0.46% | — | — |
| LG Electronics India Ltd. | Consumer Discretionary | 0.65% | ₹52.21 Cr | +1.63% | +1.99% | — |
| Aditya Vision Ltd. | Services | 0.64% | ₹51.44 Cr | +1.04% | +0.94% | — |
| Exide Industries Ltd. | Capital Goods | 0.62% | ₹49.85 Cr | — | — | — |
| company:10198 | Financial | 0.62% | ₹49.49 Cr | +1.08% | +0.66% | +0.06% |
| Container Corporation Of India Ltd. | Services | 0.61% | ₹48.63 Cr | +0.78% | — | — |
| Oil And Natural Gas Corporation Ltd. | Energy | 0.59% | ₹47.23 Cr | +0.88% | — | — |
| company:18292 | Technology | 0.57% | ₹45.83 Cr | — | — | — |
| Gujarat Fluorochemicals Ltd. | Chemicals | 0.55% | ₹44.41 Cr | — | — | — |
| Emmvee Photovoltaic Power Ltd. | Energy | 0.50% | ₹40.39 Cr | +0.68% | +1.11% | — |
| TD Power Systems Ltd. | Capital Goods | 0.40% | ₹31.75 Cr | +0.36% | +0.68% | +0.20% |
| Brainbees Solutions Ltd. | Consumer Discretionary | 0.38% | ₹30.65 Cr | +1.03% | +1.22% | — |
| company:20327 | Automobile | 0.36% | ₹28.47 Cr | — | — | — |
| company:17104 | Services | 0.35% | ₹28.13 Cr | — | — | — |
| Aequs Ltd. | Technology | 0.35% | ₹27.81 Cr | +0.51% | +0.61% | — |
| Kei Industries Ltd. | Capital Goods | 0.28% | ₹22.49 Cr | +1.13% | +1.41% | +1.45% |
| KSB Ltd. | Capital Goods | 0.26% | ₹20.82 Cr | +0.43% | +0.56% | +0.63% |
| WeWork India Management Ltd. | Services | 0.21% | ₹17.04 Cr | +0.64% | — | — |
| TVS Motor Company Ltd - Pref. Shares | Automobile | 0.03% | ₹2.38 Cr | +0.03% | +0.03% | +0.03% |
| Triveni Turbine Ltd. | Construction | 0.00% | ₹0.03 Cr | +0.60% | +0.98% | — |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| Maruti Suzuki India Ltd. | 5.45% | 3.64% | -1.82% |
| company:20325 | 0.00% | 1.28% | +1.28% |
| Computer Age Management Services Ltd. | 2.64% | 1.40% | -1.24% |
| company:2310 | 0.00% | 1.17% | +1.17% |
| Mankind Pharma Ltd. | 1.13% | 0.00% | -1.13% |
| company:19129 | 0.00% | 1.10% | +1.10% |
| company:2244 | 0.00% | 0.90% | +0.90% |
| Coforge Ltd. | 2.06% | 1.16% | -0.90% |
| company:8372 | 0.00% | 0.87% | +0.87% |
| company:505 | 0.00% | 0.87% | +0.87% |
| company:19686 | 0.00% | 0.77% | +0.77% |
| company:20312 | 0.00% | 0.75% | +0.75% |
| Accenture PLC | 0.72% | 0.00% | -0.72% |
| Pine Labs Ltd. | 0.66% | 0.00% | -0.66% |
| GE Vernova T&D India Ltd | 0.95% | 1.60% | +0.64% |
| company:10198 | 0.00% | 0.62% | +0.62% |
| 360 One Wam Ltd. | 2.58% | 1.97% | -0.61% |
| Kei Industries Ltd. | 0.89% | 0.28% | -0.61% |
| ACME Solar Holdings Ltd. | 0.58% | 0.00% | -0.58% |
| company:18292 | 0.00% | 0.57% | +0.57% |
| Brainbees Solutions Ltd. | 0.92% | 0.38% | -0.54% |
| Hyundai Motor India Ltd. | 1.50% | 0.96% | -0.54% |
| Angel One Ltd. | 0.69% | 1.17% | +0.48% |
| Cummins India Ltd. | 1.79% | 2.24% | +0.45% |
| Triveni Turbine Ltd. | 0.45% | 0.00% | -0.45% |
| Swiggy Ltd. | 2.08% | 2.52% | +0.43% |
| TVS Motor Company Ltd. | 2.52% | 2.11% | -0.42% |
| WeWork India Management Ltd. | 0.58% | 0.21% | -0.36% |
| Biocon Ltd. | 0.50% | 0.86% | +0.36% |
| company:20327 | 0.00% | 0.36% | +0.36% |
| company:17104 | 0.00% | 0.35% | +0.35% |
| Info Edge (India) Ltd. | 1.98% | 1.63% | -0.35% |
| Multi Commodity Exchange Of India Ltd. | 1.44% | 1.78% | +0.34% |
| Medplus Health Services Ltd. | 1.27% | 1.60% | +0.34% |
| Thyrocare Technologies Ltd. | 1.07% | 0.75% | -0.32% |
| LG Electronics India Ltd. | 0.96% | 0.65% | -0.31% |
| Gujarat Fluorochemicals Ltd. | 0.25% | 0.55% | +0.31% |
| Hindustan Aeronautics Ltd. | 1.88% | 1.61% | -0.27% |
| Ivalue Infosolutions Ltd. | 0.93% | 0.67% | -0.26% |
| ICICI Bank Ltd. | 0.96% | 0.70% | -0.26% |
| ZF Commercial Vehicle Control Systems India Ltd. | 1.55% | 1.30% | -0.24% |
| Apollo Hospitals Enterprise Ltd. | 1.47% | 1.71% | +0.24% |
| Divi's Laboratories Ltd. | 1.60% | 1.85% | +0.24% |
| Tata Motors Passenger Vehicles Ltd. | 1.79% | 1.55% | -0.23% |
| Godrej Consumer Products Ltd. | 1.47% | 1.24% | -0.23% |
| Eternal Ltd. | 3.62% | 3.84% | +0.22% |
| Clean Max Enviro Energy Solutions Ltd. | 0.21% | 0.00% | -0.21% |
| Ashok Leyland Ltd. | 0.86% | 0.66% | -0.19% |
| Supreme Industries Ltd. | 0.19% | 0.00% | -0.19% |
| RateGain Travel Technologies Ltd. | 0.91% | 1.09% | +0.19% |
| Astrazeneca Pharma India Ltd. | 0.48% | 0.66% | +0.18% |
| KSB Ltd. | 0.44% | 0.26% | -0.18% |
| Manipal Health Enterprises Ltd. | 0.64% | 0.81% | +0.17% |
| Bharti Airtel Ltd. | 1.65% | 1.48% | -0.17% |
| Sagility Ltd. | 2.64% | 2.80% | +0.16% |
| Sapphire Foods India Ltd. | 0.54% | 0.70% | +0.16% |
| AIA Engineering Ltd. | 0.82% | 0.93% | +0.11% |
| Zensar Technologies Ltd. | 0.99% | 0.88% | -0.11% |
| TD Power Systems Ltd. | 0.29% | 0.40% | +0.10% |
| Axis Bank Ltd. | 2.78% | 2.88% | +0.10% |
| Tube Investments Of India Ltd. | 0.09% | 0.00% | -0.09% |
| Hexaware Technologies Ltd. | 1.86% | 1.79% | -0.07% |
| NTPC Ltd. | 0.89% | 0.82% | -0.07% |
| Vijaya Diagnostic Centre Ltd. | 1.81% | 1.87% | +0.06% |
| Cohance Lifesciences Ltd. | 1.13% | 1.19% | +0.06% |
| Max Healthcare Institute Ltd. | 0.77% | 0.71% | -0.05% |
| Aditya Vision Ltd. | 0.70% | 0.64% | -0.05% |
| Devyani International Ltd. | 0.81% | 0.86% | +0.05% |
| BlackBuck Ltd. | 1.30% | 1.25% | -0.04% |
| Oil And Natural Gas Corporation Ltd. | 0.63% | 0.59% | -0.04% |
| Safari Industries (India) Ltd. | 0.77% | 0.73% | -0.04% |
| Oil India Ltd. | 1.26% | 1.30% | +0.04% |
| CG Power and Industrial Solutions Ltd. | 0.82% | 0.85% | +0.03% |
| Sun Pharmaceutical Industries Ltd. | 1.25% | 1.22% | -0.03% |
| Dr. Reddy's Laboratories Ltd. | 1.89% | 1.86% | -0.03% |
| Container Corporation Of India Ltd. | 0.64% | 0.61% | -0.03% |
| Others | 1.37% | 1.34% | -0.03% |
| Exide Industries Ltd. | 0.65% | 0.62% | -0.03% |
| Bharti Hexacom Ltd. | 2.76% | 2.78% | +0.03% |
| Mphasis Ltd. | 1.60% | 1.62% | +0.02% |
| Capillary Technologies India Ltd. | 1.73% | 1.75% | +0.02% |
| Amagi Media Labs Ltd. | 0.80% | 0.78% | -0.02% |
| Aequs Ltd. | 0.33% | 0.35% | +0.01% |
| Blue Star Ltd. | 1.71% | 1.69% | -0.01% |
| Larsen & Toubro Ltd. | 1.23% | 1.24% | +0.01% |
| Emmvee Photovoltaic Power Ltd. | 0.51% | 0.50% | 0.00% |
| TVS Motor Company Ltd - Pref. Shares | 0.03% | 0.03% | 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 | ₹2,524 Cr | 2.15% | 20.0% | 13.2% | 16.5% |
 Kotak Pioneer Fund | ₹4,281 Cr | 1.91% | 20.2% | 15.0% | 17.6% |
 Nippon India Innovation Fund | ₹3,108 Cr | 2.07% | 7.5% | 7.3% | — |
 Axis Innovation Fund | ₹1,363 Cr | 2.28% | 27.9% | 15.6% | 15.4% |
 Union Innovation & Opportunities Fund | ₹1,344 Cr | 2.36% | 24.3% | 14.8% | — |
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 predominantly investing in equity & equity related securities of companies and units of global mutual funds/ETFs that can benefit from innovation strategies and theme.
Fund managers
- Vaibhav DusadMr. Dusad has done B.Tech, M.Tech and MBAPrior to joining ICICI Prudential AMC Ltd, he has worked with Morgan Stanley, HSBC Global Banking and Markets, CRISIL, Zinnov Mangement Consulting and Citibank Singapore.
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 months13.57% absolute | ₹60,000 | ₹68,142 | 13.57% | |
| 1 year4.07% annualised | ₹1,20,000 | ₹1,22,679 | 2.23% | |
| 3 years17.72% annualised | ₹3,60,000 | ₹4,77,640 | 32.68% |
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.
What is the NAV of ICICI Prudential Innovation Fund?
The NAV of ICICI Prudential Innovation Fund is ₹19.17 as on 25 Sep 2026.
What is the expense ratio of ICICI Prudential Innovation Fund?
The expense ratio of ICICI Prudential Innovation Fund is 2.14% per year.
What is the minimum SIP amount for ICICI Prudential Innovation Fund?
You can start a SIP in ICICI Prudential Innovation Fund with ₹3,000 a month.
Is there a lock-in or exit load on ICICI Prudential Innovation Fund?
Lock-in: None. Exit load: Exit load of 1%, if redeemed within 1 month..
How risky is ICICI Prudential Innovation Fund?
ICICI Prudential Innovation Fund is rated Very High on the SEBI riskometer and belongs to the Thematic-Innovation category.
Which fund house manages ICICI Prudential Innovation Fund?
ICICI Prudential Innovation Fund is managed by ICICI Prudential Mutual Fund, which runs 109 schemes with ₹11,76,218 Cr under management.