ICICI Prudential Active Momentum Fund
Direct · GrowthAI Summary
ICICI Prudential Active Momentum Fund has delivered a 1Y SIP XIRR of 9.71%, which trails the sectoral/thematic category average of 14.1% by a meaningful margin. However, on a lump-sum basis the fund has outperformed the NIFTY 50 across all periods, with a 1Y fund CAGR of 11.89% versus the benchmark's -2.9%, generating alpha of 13.23% over 1Y. Alpha narrows over longer windows (3.45% at 3Y, 1.60% at 5Y), indicating most outperformance has been concentrated in the recent period.
The fund exhibits a defensive risk profile with a beta of 0.83 and a downside capture of 71.93% versus the NIFTY 50, meaning it has fallen significantly less than the benchmark in down markets. Its maximum drawdown of just -0.11% over 25 days with a 45-day recovery reflects low recent volatility, and a Calmar ratio of 1.02 signals reasonable risk-adjusted returns. Upside capture of 89.94% shows the fund gives up some participation in rallies, but the favorable asymmetry has supported its alpha.
The portfolio holds 41 stocks with a well-diversified top 10, where the largest position, Mahindra & Mahindra, is only 4.69% of NAV and no single holding exceeds 5%. Sector exposure is spread across Banks (10.8%), Aerospace & Defense (7.9%), Retailing (7.7%), Finance (7.4%), and Electrical Equipment (6.2%), reflecting a momentum-driven rotation across autos, financials, and capital markets names like Nippon Life India AMC. This breadth limits single-stock and single-sector concentration risk despite the thematic mandate.
The fund's 1Y SIP XIRR of 9.71% sits well below the category average of 14.1%, placing it in the lower half of sectoral/thematic peers on SIP returns. Its consistent positive alpha versus the NIFTY 50 across 1Y to 10Y windows (though shrinking from 13.23% to 0.24%) demonstrates benchmark outperformance, but not peer-leading performance. Calendar year returns of 7.11% in 2025 and 4.48% in 2026 suggest modest but steady recent delivery.
This fund suits investors with high risk tolerance who want a momentum-based, sectoral/thematic satellite holding alongside a diversified core portfolio, given the higher expense ratio of 1.06% and category volatility. A time horizon of at least 5 years is advisable, as thematic funds can underperform for extended stretches and the fund's SIP returns currently lag peers. Investors should be comfortable with style-driven rotation and should cap allocation to a small portion of their overall equity portfolio.
- Strong benchmark outperformance with 13.23% alpha over 1Y and positive alpha across all windows up to 12Y versus the NIFTY 50
- Defensive downside characteristics with beta of 0.83 and downside capture of only 71.93%, cushioning losses in weak markets
- Diversified 41-stock portfolio with no holding above 4.69% of NAV, limiting single-stock concentration
- 1Y SIP XIRR of 9.71% significantly trails the category average of 14.1%, indicating weaker peer-relative SIP performance
- Alpha has steadily compressed over longer horizons, from 13.23% at 1Y to just 0.24% at 12Y, raising questions about sustained outperformance
Generated on 08-09-2026, 3:04 AM. Verify before investing.
Gives more importance to longer time periods (10Y, 20Y) than shorter ones (1Y, 3Y). This balances out recent outperformance and gives a more realistic picture of what long-term returns might look like.
The largest peak-to-trough decline in the fund's NAV. Shows the worst-case loss an investor would have experienced at any point in the fund's history.
If you invested ₹1,00,000 every month via SIP, here's how this fund has historically performed across different time horizons.
| Duration | Invested | Median Value | XIRR | Min XIRR | Max XIRR |
|---|---|---|---|---|---|
| 1 Year | ₹12.00 L | ₹12.53 L | 9.7% | 1.8% | 14.7% |
SIP returns vs benchmark & category
Annualised SIP return (XIRR) over each rolling horizon — like-for-like, not lump-sum.
| Duration | Fund SIP XIRR | NIFTY 50 | Category avg | Fund edge |
|---|---|---|---|---|
| 1 Year | 9.7% | 14.4% | 14.1% | -4.7% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 11.3% | 12.0% | 8.0% | 13.4% | 2.54 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +13.23 | 0.83 | 89.9% | 71.9% | 11.9% | -2.9% |
| 3 Years | +3.45 | 0.83 | 88.4% | 71.5% | 3.8% | -0.9% |
| 5 Years | +1.60 | 0.83 | 88.4% | 71.5% | 2.3% | -0.5% |
| 7 Years | +0.83 | 0.83 | 88.4% | 71.5% | 1.6% | -0.4% |
| 10 Years | +0.24 | 0.83 | 88.4% | 71.5% | 1.1% | -0.3% |
| 12 Years | +0.02 | 0.83 | 88.4% | 71.5% | 0.9% | -0.2% |
| 15 Years | -0.21 | 0.83 | 88.4% | 71.5% | 0.8% | -0.2% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | Mahindra & Mahindra Ltd. | 4.69% |
| 2 | Samvardhana Motherson International Ltd. | 3.67% |
| 3 | Bajaj Finance Ltd. | 3.47% |
| 4 | Axis Bank Ltd. | 3.21% |
| 5 | Larsen & Toubro Ltd. | 3.12% |
| 6 | Radico Khaitan Ltd. | 3.08% |
| 7 | Nippon Life India Asset Management Ltd | 3.04% |
| 8 | Titan Company Ltd. | 3.00% |
| 9 | State Bank Of India | 2.97% |
| 10 | Eternal Ltd. | 2.90% |