ICICI Prudential Exports and Services Fund
Direct · GrowthAI Summary
ICICI Prudential Exports and Services Fund has delivered strong SIP XIRR of 20.43% over 1Y and 16.10% over 3Y, beating the category average of 14.1% and 16.82% respectively at the shorter horizon. Over longer periods, however, its 5Y XIRR of 15.57% and 10Y XIRR of 16.62% trail category averages of 16.95% and 16.71%. Against the NIFTY 50, the fund shows consistent alpha of 8.78% (1Y), 9.41% (3Y) and 8.00% (5Y), with lump-sum CAGRs well ahead of the benchmark across all windows.
The fund exhibits a low beta of 0.79-0.93 versus the NIFTY 50 and notably low downside capture (74.51% over 5Y, 68.3% over 15Y), indicating strong downside protection. It has experienced 7 drawdown events greater than 10%, with a maximum drawdown of -37.49% that took 239 days to recover, reflecting the inherent volatility of a sectoral/thematic mandate. Calmar ratios between 0.40 and 0.54 across horizons suggest moderate risk-adjusted efficiency relative to its peak-to-trough losses.
The portfolio holds 64 stocks with the top 10 accounting for roughly 34% of NAV, led by Infosys (6.57%), ICICI Bank (6.02%) and HDFC Bank (5.37%). Sector concentration is meaningful, with Banks (16.3%), Capital Markets (11.0%) and IT-Software (9.8%) forming the top three exposures. The presence of financials alongside IT, pharma, telecom and transport services gives the fund broader diversification than a pure single-sector theme, though financial-sector concentration remains a key driver.
The fund outperforms the category on 1Y SIP XIRR (20.43% vs 14.1%) but lags on 3Y, 5Y, 7Y and 10Y horizons, indicating recent strength rather than sustained peer leadership. Calendar year returns show strong consistency in favorable markets, including 35.09% in 2021, 27.11% in 2023 and 23.71% in 2024, though negative years in 2016 (-3.62%) and 2018 (-7.65%) highlight cyclicality. Its persistent alpha versus the NIFTY 50 across 1Y to 15Y windows suggests skilled stock selection relative to the broad market.
This fund suits investors with high risk tolerance who understand sectoral/thematic funds can underperform for extended periods and should be limited to a satellite allocation of 5-10% of the equity portfolio. A holding horizon of at least 5-7 years is advisable to ride out sector cycles, as evidenced by drawdowns exceeding 10% on seven occasions. Investors seeking steady core large-cap exposure should prefer diversified funds, while those comfortable with concentration risk in financials and export-linked sectors may find this a compelling tactical addition.
- Consistent alpha versus NIFTY 50 across all measured horizons, including 9.41% over 3Y and 8.00% over 5Y
- Low downside capture (74.51% over 5Y and 68.3% over 15Y) with beta below 0.94, offering better downside protection than the benchmark
- Strong recent SIP performance with 1Y XIRR of 20.43% versus the category average of 14.1%
- Long-term SIP XIRR trails category averages, with 5Y XIRR of 15.57% versus 16.95% for the category
- Sector concentration risk with Banks (16.3%) and Capital Markets (11.0%) together forming over a quarter of the portfolio, plus a high expense ratio of 1.67%
Generated on 02-09-2026, 2:53 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 | ₹12.79 L | 20.4% | -56.5% | 90.4% |
| 3 Years | ₹36.00 L | ₹46.19 L | 16.1% | -23.4% | 35.1% |
| 5 Years | ₹60.00 L | ₹90.12 L | 15.6% | -11.1% | 30.9% |
| 7 Years | ₹84.00 L | ₹1.47 Cr | 15.8% | -1.7% | 24.8% |
| 10 Years | ₹1.20 Cr | ₹2.87 Cr | 16.6% | 13.7% | 20.0% |
| 12 Years | ₹1.44 Cr | ₹4.15 Cr | 16.5% | 13.9% | 18.7% |
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 | 20.4% | 14.4% | 14.1% | +6.0% |
| 3 Years | 16.1% | 11.1% | 16.8% | +5.0% |
| 5 Years | 15.6% | 10.4% | 16.9% | +5.1% |
| 7 Years | 15.8% | 10.6% | 16.5% | +5.2% |
| 10 Years | 16.6% | 11.5% | 16.7% | +5.2% |
| 12 Years | 16.5% | 11.4% | 16.3% | +5.1% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 20.1% | 14.0% | -32.7% | 92.7% | 0.64 | 2.47 | 86% | — | — |
| 3 Years | 16.8% | 18.7% | -8.2% | 36.5% | 1.21 | 5.43 | 97% | — | — |
| 5 Years | 15.8% | 15.1% | -2.3% | 32.4% | 1.39 | 9.10 | 99% | — | — |
| 10 Years | 16.1% | 15.9% | 13.0% | 19.0% | 5.56 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +8.78 | 0.93 | 98.1% | 86.8% | 6.5% | -2.9% |
| 3 Years | +9.41 | 0.87 | 94.2% | 81.9% | 17.0% | 7.8% |
| 5 Years | +8.00 | 0.80 | 85.1% | 74.5% | 15.6% | 7.8% |
| 7 Years | +7.88 | 0.81 | 85.9% | 77.1% | 18.7% | 11.8% |
| 10 Years | +4.41 | 0.80 | 83.3% | 77.1% | 14.4% | 10.8% |
| 12 Years | +5.86 | 0.79 | 82.7% | 74.9% | 15.0% | 9.8% |
| 15 Years | +7.53 | 0.74 | 79.1% | 68.3% | 16.4% | 9.8% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | Infosys Ltd. | 6.57% |
| 2 | ICICI Bank Ltd. | 6.02% |
| 3 | HDFC Bank Ltd. | 5.37% |
| 4 | Reliance Industries Ltd. | 3.46% |
| 5 | Angel One Ltd. | 2.89% |
| 6 | State Bank Of India | 2.26% |
| 7 | Shadowfax Technologies Ltd | 2.22% |
| 8 | Larsen & Toubro Ltd. | 2.11% |
| 9 | 360 One Wam Ltd. | 2.10% |
| 10 | Bharti Airtel Ltd. | 2.06% |