ICICI Pru Innovation Fund
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.
Growthvine rating: 5/5 — ranked #15 of 184 in category.
Fund basics
| Category | Equity: Thematic |
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| NAV | ₹18.48 (as of 2026-10-01) |
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| AUM | ₹8,012 Cr |
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| Expense ratio | 1.53% |
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| Riskometer | Very High |
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| Fund manager | Vaibhav Dusad |
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| Exit load | 1% for redemption within 1 month |
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Performance & risk
| Sharpe ratio | 0.89 |
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| Standard deviation | 14.93% |
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| Max drawdown | −16.91% |
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| Alpha | 6.79 |
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| Beta | 0.94 |
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Over 5 years, captured 79.0% of Nifty India Digital's upside and 40.5% of its downside.
Market cap allocation
| Large cap | 37.4% |
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| Mid cap | 29.6% |
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| Small cap | 33.0% |
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Concentration
| Top 5 holdings | 18.1% |
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| Top 10 holdings | 29.7% |
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| Total holdings | 76 |
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Top holdings
- ICICI Bank Ltd. — 5.0%
- Eternal Limited — 3.8%
- Maruti Suzuki India Ltd. — 3.6%
- AXIS Bank Ltd. — 2.9%
- Sagility Limited — 2.8%
- Bharti Hexacom Limited — 2.8%
- SWIGGY LIMITED — 2.5%
- Cummins India Ltd. — 2.2%
- TVS Motor Company Ltd. — 2.1%
- TREPS — 2.0%
Top sectors
- Banking & Financial — 14.2%
- Software & Services — 12.4%
- Automobile — 11.5%
Calendar-year track record
| Year | Return | Quartile | Category rank |
|---|
| 2026 (partial) | −4.1% | Q3 | #91 of 167 |
| 2025 | 10.8% | Q1 (Top) | #19 of 132 |
| 2024 | 28.5% | Q1 (Top) | #9 of 86 |