ICICI Prudential Innovation Fund
Thematic-InnovationVery HighOPEN-ENDED
- NAV as on 9 Nov 2026
- ₹19.24+0.63%1 day
- Return since launch
- 20.1%
- 52-week range
- ₹16.52 — ₹19.86
- AUM
- ₹7,434 Cr
ICICI Prudential Innovation Fund is a Thematic-Innovation equity fund from ICICI Prudential Mutual Fund with ₹7,434 Cr under management, launched in 2023. Over three years it has returned 7.8% a year, against 14.4% for its category. The expense ratio is 2.18% 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 +1.0% against +6.9% for its category.
Performance
Returns
How the fund has done against its category and its benchmark.
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1Y | 5.1% | −3.1 pts | 8.2% | 14.0% |
| 2Y | 5.7% | −5.2 pts | 10.9% | 10.1% |
| 3Y | 7.8% | −6.5 pts | 14.4% | 10.3% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | 3.4% | 0.0 pts | 3.5% | 3.7% |
| 3M | -2.8% | −2.4 pts | -0.4% | -1.2% |
| 6M | 4.2% | −5.5 pts | 9.7% | 8.2% |
| 1Y | 1.5% | −6.7 pts | 8.2% | 6.9% |
| 2Y | 4.8% | −1.1 pts | 5.9% | 5.9% |
| 3Y | 17.2% | +2.9 pts | 14.4% | 15.9% |
Since launch (10 Apr 2023): 20.1%
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
2.16%
Expense ratio as on 5 Nov 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 1.53%
- Brokerage
- 0.10%
- Transaction charges
- 0.01%
- Statutory levies
- 0.52%
- 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 | 6.31 | 5.60 | Return earned above what the benchmark alone would have given. Higher is better. |
| Beta | 0.96 | 0.93 | How hard the fund moves when the market moves. Under 1 is steadier than the market. |
| Sharpe | 0.72 | 0.64 | Return earned for each unit of total risk taken. Higher is better. |
| Sortino | 0.95 | 0.88 | Return earned for each unit of downside risk. Higher is better. |
| Std. deviation | 15.49 | 16.38 | 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 30 Sep 2026
Asset allocation
- Equity95.7%
- Debt0.7%
- Other3.6%
Market cap split
- Large36.3%
- Mid30.1%
- Small33.6%
- P/E
- 24.87
- P/B
- 4.03
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| ICICI Bank Ltd. | Financial | 4.73% | ₹357 Cr | +0.96% | +4.86% | +4.98% |
| Eternal Ltd. | Services | 3.97% | ₹300 Cr | +2.63% | +2.38% | +1.23% |
| Others | Others | 3.60% | ₹272 Cr | +2.25% | +1.20% | +2.19% |
| Axis Bank Ltd. | Financial | 2.88% | ₹218 Cr | +3.14% | +3.03% | +3.24% |
| Bharti Hexacom Ltd. | Communication | 2.72% | ₹206 Cr | +2.54% | +0.93% | — |
| Cummins India Ltd. | Capital Goods | 2.38% | ₹180 Cr | +1.58% | — | +2.12% |
| Sagility Ltd. | Services | 2.29% | ₹173 Cr | +2.51% | +2.25% | +2.06% |
| Maruti Suzuki India Ltd. | Automobile | 2.25% | ₹170 Cr | +5.20% | +4.46% | +3.00% |
| Swiggy Ltd. | Services | 2.25% | ₹170 Cr | +1.80% | +2.19% | — |
| Capillary Technologies India Ltd. | Technology | 2.18% | ₹165 Cr | +1.65% | +0.85% | — |
| TVS Motor Company Ltd. | Automobile | 2.11% | ₹160 Cr | +2.65% | +2.04% | +2.53% |
| Dr. Reddy's Laboratories Ltd. | Healthcare | 2.11% | ₹159 Cr | +2.30% | +1.46% | +1.13% |
| Divi's Laboratories Ltd. | Healthcare | 1.92% | ₹145 Cr | +1.35% | +1.56% | +1.42% |
| Vijaya Diagnostic Centre Ltd. | Healthcare | 1.88% | ₹142 Cr | +1.88% | +1.72% | +1.14% |
| Apollo Hospitals Enterprise Ltd. | Healthcare | 1.87% | ₹141 Cr | +2.94% | +3.15% | — |
| 360 One Wam Ltd. | Financial | 1.84% | ₹139 Cr | +2.52% | +2.97% | +2.32% |
| Multi Commodity Exchange Of India Ltd. | Services | 1.83% | ₹138 Cr | +1.12% | — | — |
| Hexaware Technologies Ltd. | Technology | 1.69% | ₹127 Cr | +2.00% | +1.36% | — |
| Hyundai Motor India Ltd. | Automobile | 1.68% | ₹127 Cr | +2.14% | — | +3.90% |
| Max Financial Services Ltd. | Financial | 1.67% | ₹126 Cr | — | — | — |
| Hindustan Aeronautics Ltd. | Capital Goods | 1.66% | ₹125 Cr | +1.83% | +2.20% | +0.35% |
| Medplus Health Services Ltd. | Healthcare | 1.66% | ₹125 Cr | +1.18% | — | — |
| Blue Star Ltd. | Consumer Discretionary | 1.57% | ₹119 Cr | +1.70% | +2.40% | +0.17% |
| Bharti Airtel Ltd. | Communication | 1.53% | ₹115 Cr | +1.60% | +2.49% | — |
| Angel One Ltd. | Financial | 1.46% | ₹110 Cr | +0.49% | — | — |
| Physicswallah Ltd. | Services | 1.45% | ₹109 Cr | — | — | — |
| GE Vernova T&D India Ltd | Capital Goods | 1.33% | ₹100 Cr | +1.12% | — | — |
| BlackBuck Ltd. | Services | 1.32% | ₹99.81 Cr | +1.31% | — | — |
| Oil India Ltd. | Energy | 1.28% | ₹96.85 Cr | +1.25% | +0.49% | — |
| AIA Engineering Ltd. | Metals & Mining | 1.28% | ₹96.80 Cr | +0.90% | — | +1.16% |
| Computer Age Management Services Ltd. | Services | 1.27% | ₹96.23 Cr | +2.72% | +3.14% | +2.07% |
| Tata Motors Passenger Vehicles Ltd. | Automobile | 1.23% | ₹92.55 Cr | +1.91% | +2.42% | — |
| Larsen & Toubro Ltd. | Construction | 1.22% | ₹92.07 Cr | +1.33% | +1.52% | +1.62% |
| Info Edge (India) Ltd. | Services | 1.20% | ₹90.80 Cr | +1.82% | +2.01% | +3.08% |
| ZF Commercial Vehicle Control Systems India Ltd. | Automobile | 1.20% | ₹90.43 Cr | +1.69% | +2.51% | — |
| Sun Pharmaceutical Industries Ltd. | Healthcare | 1.19% | ₹89.66 Cr | +1.70% | +1.41% | +2.97% |
| Biocon Ltd. | Healthcare | 1.09% | ₹82.16 Cr | +0.51% | +1.46% | — |
| RateGain Travel Technologies Ltd. | Technology | 1.05% | ₹79.58 Cr | +0.49% | — | — |
| LG Electronics India Ltd. | Consumer Discretionary | 1.00% | ₹75.41 Cr | +0.83% | +1.39% | — |
| Indegene Ltd. | Healthcare | 0.97% | ₹72.96 Cr | — | — | — |
| Mphasis Ltd. | Technology | 0.96% | ₹72.19 Cr | +1.72% | +2.67% | — |
| Cohance Lifesciences Ltd. | Healthcare | 0.87% | ₹66.04 Cr | +1.25% | +0.93% | +0.96% |
| Bharat Electronics Ltd. | Capital Goods | 0.86% | ₹65.07 Cr | — | — | — |
| Mahindra & Mahindra Ltd. | Automobile | 0.86% | ₹64.90 Cr | — | — | +2.72% |
| NTPC Ltd. | Energy | 0.86% | ₹64.55 Cr | +0.07% | +2.74% | +2.19% |
| Zensar Technologies Ltd. | Technology | 0.85% | ₹64.43 Cr | +0.96% | +1.31% | +1.17% |
| Devyani International Ltd. | Services | 0.85% | ₹64.38 Cr | +0.81% | — | — |
| Brainbees Solutions Ltd. | Consumer Discretionary | 0.84% | ₹63.47 Cr | +1.00% | +1.04% | +1.72% |
| CG Power and Industrial Solutions Ltd. | Capital Goods | 0.84% | ₹63.29 Cr | +0.43% | — | — |
| Lenskart Solutions Ltd. | Consumer Discretionary | 0.83% | ₹62.42 Cr | — | — | — |
| Coforge Ltd. | Technology | 0.81% | ₹61.32 Cr | +2.18% | +2.27% | — |
| Amagi Media Labs Ltd. | Technology | 0.80% | ₹60.59 Cr | +0.94% | +0.48% | — |
| Fortis Healthcare Ltd. | Healthcare | 0.79% | ₹59.29 Cr | — | — | — |
| Dr. Agarwal's Health Care Ltd. | Healthcare | 0.76% | ₹57.52 Cr | — | — | — |
| Sapphire Foods India Ltd. | Services | 0.73% | ₹55.07 Cr | +0.55% | — | — |
| Ivalue Infosolutions Ltd. | Technology | 0.71% | ₹53.74 Cr | +0.93% | +0.85% | +0.87% |
| Thyrocare Technologies Ltd. | Healthcare | 0.71% | ₹53.37 Cr | +1.23% | +0.93% | — |
| Safari Industries (India) Ltd. | Consumer Discretionary | 0.68% | ₹51.61 Cr | +0.81% | — | — |
| Godrej Consumer Products Ltd. | Consumer Staples | 0.68% | ₹51.12 Cr | +1.43% | +1.92% | +0.25% |
| Max Healthcare Institute Ltd. | Healthcare | 0.68% | ₹51.06 Cr | +1.43% | +1.64% | — |
| Reserve Bank of India | Financial | 0.66% | ₹49.70 Cr | +1.06% | +0.73% | +0.10% |
| Torrent Power Ltd. | Energy | 0.64% | ₹48.59 Cr | — | — | — |
| Astrazeneca Pharma India Ltd. | Healthcare | 0.62% | ₹47.15 Cr | +0.46% | — | — |
| Ashok Leyland Ltd. | Automobile | 0.62% | ₹46.75 Cr | +0.84% | — | — |
| Exide Industries Ltd. | Capital Goods | 0.62% | ₹46.71 Cr | — | — | — |
| Bandhan Bank Ltd. | Financial | 0.61% | ₹46.34 Cr | — | — | — |
| Oil And Natural Gas Corporation Ltd. | Energy | 0.61% | ₹46.01 Cr | +0.63% | +0.57% | — |
| PB Fintech Ltd. | Services | 0.56% | ₹42.35 Cr | — | — | — |
| Gujarat Fluorochemicals Ltd. | Chemicals | 0.55% | ₹41.69 Cr | — | — | — |
| Syngene International Ltd. | Healthcare | 0.54% | ₹40.41 Cr | — | — | — |
| Netweb Technologies India Ltd. | Technology | 0.53% | ₹40.17 Cr | — | — | — |
| Emmvee Photovoltaic Power Ltd. | Energy | 0.53% | ₹39.65 Cr | +0.57% | +1.37% | — |
| EPL Ltd. | Materials | 0.52% | ₹39.48 Cr | — | — | — |
| TD Power Systems Ltd. | Capital Goods | 0.43% | ₹32.12 Cr | +0.33% | +0.51% | +0.74% |
| Manipal Health Enterprises Ltd. | Healthcare | 0.40% | ₹30.21 Cr | — | — | — |
| Aequs Ltd. | Technology | 0.31% | ₹23.42 Cr | +0.35% | +0.57% | — |
| Tenneco Clean Air India Ltd | Automobile | 0.30% | ₹22.40 Cr | — | — | — |
| KSB Ltd. | Capital Goods | 0.29% | ₹22.08 Cr | +0.51% | +0.63% | +0.62% |
| Premier Energies Ltd. | Energy | 0.29% | ₹21.75 Cr | — | — | — |
| Aditya Infotech Ltd. | Communication | 0.29% | ₹21.58 Cr | — | — | — |
| Kei Industries Ltd. | Capital Goods | 0.23% | ₹17.46 Cr | +0.99% | +1.23% | +1.54% |
| Symbiotec Pharmalab Ltd. | Healthcare | 0.08% | ₹5.88 Cr | — | — | — |
| Container Corporation Of India Ltd. | Services | 0.00% | ₹0.20 Cr | +0.78% | — | — |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| ICICI Bank Ltd. | 0.70% | 4.73% | +4.03% |
| Apollo Hospitals Enterprise Ltd. | 1.71% | 0.20% | -1.51% |
| Maruti Suzuki India Ltd. | 3.64% | 2.25% | -1.39% |
| Mphasis Ltd. | 1.62% | 0.96% | -0.66% |
| Torrent Power Ltd. | 0.00% | 0.64% | +0.64% |
| Aditya Vision Ltd. | 0.64% | 0.00% | -0.64% |
| Bandhan Bank Ltd. | 0.00% | 0.61% | +0.61% |
| Container Corporation Of India Ltd. | 0.61% | 0.00% | -0.60% |
| Godrej Consumer Products Ltd. | 1.24% | 0.68% | -0.56% |
| Syngene International Ltd. | 0.00% | 0.54% | +0.54% |
| EPL Ltd. | 0.00% | 0.52% | +0.52% |
| Sagility Ltd. | 2.80% | 2.29% | -0.52% |
| Max Financial Services Ltd. | 1.17% | 1.67% | +0.50% |
| Brainbees Solutions Ltd. | 0.38% | 0.84% | +0.46% |
| Capillary Technologies India Ltd. | 1.75% | 2.18% | +0.43% |
| Info Edge (India) Ltd. | 1.63% | 1.20% | -0.43% |
| Manipal Health Enterprises Ltd. | 0.81% | 0.40% | -0.41% |
| Coforge Ltd. | 1.16% | 0.81% | -0.35% |
| AIA Engineering Ltd. | 0.93% | 1.28% | +0.35% |
| LG Electronics India Ltd. | 0.65% | 1.00% | +0.35% |
| Tata Motors Passenger Vehicles Ltd. | 1.55% | 1.23% | -0.33% |
| Cohance Lifesciences Ltd. | 1.19% | 0.87% | -0.31% |
| Angel One Ltd. | 1.17% | 1.46% | +0.29% |
| Premier Energies Ltd. | 0.00% | 0.29% | +0.29% |
| Aditya Infotech Ltd. | 0.00% | 0.29% | +0.29% |
| GE Vernova T&D India Ltd | 1.60% | 1.33% | -0.27% |
| Swiggy Ltd. | 2.52% | 2.25% | -0.27% |
| Dr. Reddy's Laboratories Ltd. | 1.86% | 2.11% | +0.25% |
| Biocon Ltd. | 0.86% | 1.09% | +0.23% |
| Hyundai Motor India Ltd. | 0.96% | 0.74% | -0.22% |
| WeWork India Management Ltd. | 0.21% | 0.00% | -0.21% |
| PB Fintech Ltd. | 0.35% | 0.56% | +0.21% |
| Physicswallah Ltd. | 1.28% | 1.45% | +0.16% |
| Cummins India Ltd. | 2.24% | 2.38% | +0.15% |
| 360 One Wam Ltd. | 1.97% | 1.84% | -0.14% |
| Eternal Ltd. | 3.84% | 3.97% | +0.14% |
| Indegene Ltd. | 1.10% | 0.97% | -0.13% |
| Computer Age Management Services Ltd. | 1.40% | 1.27% | -0.12% |
| Blue Star Ltd. | 1.69% | 1.57% | -0.12% |
| ZF Commercial Vehicle Control Systems India Ltd. | 1.30% | 1.20% | -0.10% |
| Hexaware Technologies Ltd. | 1.79% | 1.69% | -0.10% |
| Fortis Healthcare Ltd. | 0.87% | 0.79% | -0.09% |
| Others | 1.34% | 1.42% | +0.08% |
| Symbiotec Pharmalab Ltd. | 0.00% | 0.08% | +0.08% |
| Divi's Laboratories Ltd. | 1.85% | 1.92% | +0.08% |
| Lenskart Solutions Ltd. | 0.75% | 0.83% | +0.07% |
| BlackBuck Ltd. | 1.25% | 1.32% | +0.07% |
| Bharti Hexacom Ltd. | 2.78% | 2.72% | -0.06% |
| Tenneco Clean Air India Ltd | 0.36% | 0.30% | -0.06% |
| Medplus Health Services Ltd. | 1.60% | 1.66% | +0.05% |
| Multi Commodity Exchange Of India Ltd. | 1.78% | 1.83% | +0.05% |
| Hindustan Aeronautics Ltd. | 1.61% | 1.66% | +0.05% |
| Kei Industries Ltd. | 0.28% | 0.23% | -0.05% |
| Safari Industries (India) Ltd. | 0.73% | 0.68% | -0.05% |
| Thyrocare Technologies Ltd. | 0.75% | 0.71% | -0.05% |
| Ashok Leyland Ltd. | 0.66% | 0.62% | -0.05% |
| Bharti Airtel Ltd. | 1.48% | 1.53% | +0.04% |
| Ivalue Infosolutions Ltd. | 0.67% | 0.71% | +0.04% |
| Mahindra & Mahindra Ltd. | 0.90% | 0.86% | -0.04% |
| Reserve Bank of India | 0.62% | 0.66% | +0.04% |
| Netweb Technologies India Ltd. | 0.57% | 0.53% | -0.04% |
| RateGain Travel Technologies Ltd. | 1.09% | 1.05% | -0.04% |
| Max Healthcare Institute Ltd. | 0.71% | 0.68% | -0.04% |
| NTPC Ltd. | 0.82% | 0.86% | +0.04% |
| Aequs Ltd. | 0.35% | 0.31% | -0.04% |
| Astrazeneca Pharma India Ltd. | 0.66% | 0.62% | -0.04% |
| Sun Pharmaceutical Industries Ltd. | 1.22% | 1.19% | -0.03% |
| KSB Ltd. | 0.26% | 0.29% | +0.03% |
| company:20133 | 0.03% | 0.00% | -0.03% |
| TD Power Systems Ltd. | 0.40% | 0.43% | +0.03% |
| Sapphire Foods India Ltd. | 0.70% | 0.73% | +0.03% |
| Zensar Technologies Ltd. | 0.88% | 0.85% | -0.02% |
| Amagi Media Labs Ltd. | 0.78% | 0.80% | +0.02% |
| Emmvee Photovoltaic Power Ltd. | 0.50% | 0.53% | +0.02% |
| Oil And Natural Gas Corporation Ltd. | 0.59% | 0.61% | +0.02% |
| Oil India Ltd. | 1.30% | 1.28% | -0.02% |
| Larsen & Toubro Ltd. | 1.24% | 1.22% | -0.02% |
| Vijaya Diagnostic Centre Ltd. | 1.87% | 1.88% | +0.01% |
| CG Power and Industrial Solutions Ltd. | 0.85% | 0.84% | -0.01% |
| TVS Motor Company Ltd. | 2.11% | 2.11% | +0.01% |
| Dr. Agarwal's Health Care Ltd. | 0.77% | 0.76% | -0.01% |
| Bharat Electronics Ltd. | 0.87% | 0.86% | -0.01% |
| Exide Industries Ltd. | 0.62% | 0.62% | 0.00% |
| Devyani International Ltd. | 0.86% | 0.85% | 0.00% |
| Axis Bank Ltd. | 2.88% | 2.88% | 0.00% |
| Gujarat Fluorochemicals Ltd. | 0.55% | 0.55% | 0.00% |
| Triveni Turbine Ltd. | 0.00% | 0.00% | 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 | ₹2,460 Cr | 2.14% | 16.5% | 11.4% | 15.2% |
 Kotak Pioneer Fund | ₹4,295 Cr | 1.90% | 11.4% | 11.5% | 15.6% |
 Nippon India Innovation Fund | ₹2,923 Cr | 2.10% | 5.8% | 5.8% | — |
 Axis Innovation Fund | ₹1,315 Cr | 2.27% | 24.9% | 14.3% | 14.9% |
 Union Innovation & Opportunities Fund | ₹1,307 Cr | 2.31% | 23.9% | 14.2% | — |
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 months4.23% absolute | ₹60,000 | ₹62,538 | 4.23% | |
| 1 year1.48% annualised | ₹1,20,000 | ₹1,20,966 | 0.81% | |
| 3 years17.24% annualised | ₹3,60,000 | ₹4,73,879 | 31.63% |
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 ₹19.24 as on 9 Nov 2026.
What is the expense ratio of ICICI Prudential Innovation Fund?
The expense ratio of ICICI Prudential Innovation Fund is 2.18% 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 ₹12,20,481 Cr under management.