ICICI Prudential Exports and Services Fund
Direct · GrowthAI Summary
ICICI Prudential Exports and Services Fund has delivered strong SIP XIRR of 17.92% over 3Y and 17.71% over 5Y, beating the category averages of 16.29% and 17.48% respectively. Against the NIFTY 50, the fund shows consistent positive alpha across all windows, including 8.58% over 3Y and 7.98% over 5Y, with lump-sum CAGRs of 13.58% and 12.96% versus the benchmark's 4.78% and 4.58%. Long-term performance is also solid, with 10Y and 12Y SIP XIRR of 16.59% and 16.25%.
The fund exhibits a defensive risk profile with beta below 1 across all periods (0.79-0.92) and notably low downside capture, ranging from 68.44% over 15Y to 84.35% over 1Y. It has experienced 7 drawdown events exceeding 10%, with a maximum drawdown of -37.49% that took 239 days to recover, indicating meaningful downside risk despite strong risk-adjusted returns. Calmar ratios between 0.40 and 0.53 across horizons suggest reasonable compensation for the drawdown risk taken.
The 62-stock portfolio is led by Infosys (6.33%), ICICI Bank (5.86%), and HDFC Bank (4.89%), with financials dominating the sector mix — Banks at 15.8%, Capital Markets at 10.9%, and Insurance at 5.5%. IT-Software contributes 9.4%, aligning with the export-oriented theme, while holdings like Shadowfax Technologies and Angel One add exposure to services and capital market businesses. Top-10 holdings account for roughly 31.6% of NAV, indicating moderate concentration with reasonable diversification beyond the core positions.
The fund outperforms the category average SIP XIRR in 1Y (12.0% vs 10.71%), 3Y (17.92% vs 16.29%), 10Y (16.59% vs 16.45%), and 12Y (16.25% vs 15.8%), while trailing slightly in 5Y (17.71% vs 17.48% is actually ahead) and 7Y (15.83% vs 16.63%). Calendar year returns show strong consistency in favorable years, including 52.15% in 2014, 35.09% in 2021, and 27.11% in 2023, though negative years like -7.65% in 2018 and -3.62% in 2016 reveal cyclicality. Overall, the fund sits in the upper tier of its sectoral/thematic peer group over most long-term horizons.
This fund suits investors with high risk tolerance seeking thematic exposure to exports and services, and it should be treated as a satellite holding rather than a core portfolio fund given its sectoral classification. A time horizon of at least 5-7 years is advisable, as thematic funds can underperform for extended periods and the fund has seen drawdowns exceeding 30%. Investors comfortable with cyclicality and willing to SIP into the theme rather than lump-sum invest will benefit most from its strong long-term XIRR record.
- Consistent positive alpha versus NIFTY 50 across all measured periods, including 8.58% over 3Y and 7.98% over 5Y
- SIP XIRR ahead of category averages in 1Y (12.0% vs 10.71%), 3Y (17.92% vs 16.29%), and 12Y (16.25% vs 15.8%)
- Low downside capture (68-84%) with beta below 1, cushioning losses during market declines
- Maximum drawdown of -37.49% with 7 drawdown events exceeding 10% highlights significant downside risk typical of thematic funds
- Expense ratio of 1.67% is relatively high, and 7Y SIP XIRR (15.83%) trails the category average (16.63%)
Generated on 17-10-2026, 4:58 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 | ₹12.77 L | 20.2% | -56.5% | 90.4% |
| 3 Years | ₹36.00 L | ₹46.09 L | 16.0% | -23.4% | 35.1% |
| 5 Years | ₹60.00 L | ₹89.82 L | 15.5% | -11.1% | 30.9% |
| 7 Years | ₹84.00 L | ₹1.47 Cr | 15.8% | -1.7% | 24.8% |
| 10 Years | ₹1.20 Cr | ₹2.85 Cr | 16.6% | 13.7% | 20.0% |
| 12 Years | ₹1.44 Cr | ₹4.13 Cr | 16.3% | 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 | 20.2% | 14.3% | 10.7% | +6.0% |
| 3 Years | 16.0% | 11.0% | 16.3% | +4.9% |
| 5 Years | 15.5% | 10.4% | 17.5% | +5.2% |
| 7 Years | 15.8% | 10.6% | 16.6% | +5.2% |
| 10 Years | 16.6% | 11.4% | 16.4% | +5.2% |
| 12 Years | 16.3% | 11.3% | 15.8% | +5.0% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 19.9% | 13.7% | -32.7% | 92.7% | 0.63 | 2.44 | 87% | — | — |
| 3 Years | 16.8% | 18.6% | -8.2% | 36.5% | 1.21 | 5.45 | 97% | — | — |
| 5 Years | 15.8% | 15.0% | -2.3% | 32.4% | 1.39 | 9.15 | 99% | — | — |
| 10 Years | 16.0% | 15.4% | 13.0% | 19.0% | 5.44 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +8.22 | 0.91 | 95.5% | 83.9% | 0.1% | -9.5% |
| 3 Years | +8.22 | 0.87 | 92.9% | 81.9% | 13.8% | 5.5% |
| 5 Years | +7.89 | 0.79 | 85.0% | 74.3% | 12.9% | 4.6% |
| 7 Years | +8.06 | 0.82 | 86.0% | 76.8% | 17.9% | 10.6% |
| 10 Years | +4.16 | 0.80 | 83.3% | 77.3% | 13.9% | 10.5% |
| 12 Years | +4.94 | 0.79 | 82.4% | 75.6% | 13.9% | 9.6% |
| 15 Years | +7.45 | 0.74 | 79.0% | 68.4% | 16.1% | 9.4% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | Infosys Ltd. | 6.33% |
| 2 | ICICI Bank Ltd. | 5.86% |
| 3 | HDFC Bank Ltd. | 4.89% |
| 4 | Reliance Industries Ltd. | 2.82% |
| 5 | Angel One Ltd. | 2.67% |
| 6 | State Bank Of India | 2.34% |
| 7 | Shadowfax Technologies Ltd | 2.27% |
| 8 | 360 One Wam Ltd. | 2.18% |
| 9 | Life Insurance Corporation of India | 2.12% |
| 10 | Larsen & Toubro Ltd. | 2.08% |