ICICI Prudential Infrastructure Fund
Direct · GrowthAI Summary
ICICI Prudential Infrastructure Fund has delivered strong SIP XIRR across horizons, including 23.55% over 3Y and 23.78% over 5Y, well ahead of the category average SIP XIRR of 16.29% and 17.48% respectively. It has also generated substantial alpha versus the NIFTY 50, with 13.93% alpha over 5Y and 10.69% over 3Y on a lump-sum CAGR basis. However, the 1Y XIRR of 14.26% and 2026 calendar return of -3.81% show recent softness after a strong 2021-2024 run.
The fund shows favorable downside behavior versus the NIFTY 50, with downside capture below 100% across all periods (as low as 80.93% over 5Y) while upside capture remains near or above 100% in most windows. It has experienced 8 drawdown events greater than 10%, and the maximum drawdown took 790 days with a 318-day recovery, indicating investors must be prepared for prolonged underwater periods. Calmar ratios of roughly 0.35-0.46 across horizons reflect moderate risk-adjusted efficiency typical of a cyclical sectoral fund.
The portfolio is diversified across 67 stocks, with Interglobe Aviation (8.27%), Larsen & Toubro (5.56%), and Reliance Industries (4.52%) as the top holdings. Sector concentration is meaningful, with Construction (16.4%), Industrial Products (12.3%), and Transport Services (10.0%) forming the top three exposures. Realty (7.7%) and Cement (6.1%) round out the top five, giving the fund a pronounced capex and infrastructure cyclicality tilt.
The fund consistently outperforms its sectoral/thematic category on SIP XIRR at every measured horizon, beating the category average by roughly 5-7 percentage points over 3Y, 5Y, and 10Y. Its long-term record is strong, with 10Y and 12Y SIP XIRR of 21.33% and 20.04% versus category averages of 16.45% and 15.8%. Calendar-year returns are highly variable, ranging from -13.15% in 2018 to 56.14% in 2014, which is characteristic of the sectoral category.
This fund suits investors with high risk tolerance who understand sectoral concentration risk and can tolerate drawdowns lasting multiple years, as evidenced by the 790-day maximum drawdown duration. A time horizon of at least 5-7 years is advisable, given the cyclicality of infrastructure, construction, and realty exposures. It should be treated as a satellite allocation within a diversified portfolio rather than a core holding, with investors capping sectoral fund exposure at a modest share of their equity portfolio.
- SIP XIRR of 23.55% (3Y) and 23.78% (5Y) significantly exceeds category averages of 16.29% and 17.48%
- Consistent alpha versus NIFTY 50, including 13.93% over 5Y and 10.69% over 3Y, with downside capture as low as 80.93% over 5Y
- Long-term track record of 21.33% 10Y SIP XIRR, indicating performance durability beyond a single cycle
- High sector concentration in cyclical segments (Construction 16.4%, Industrial Products 12.3%, Realty 7.7%) exposes investors to sharp infrastructure cycle downturns, as seen in the -13.15% return in 2018
- Prolonged drawdown risk, with the maximum drawdown lasting 790 days and requiring 318 days for recovery, plus 8 drawdown events exceeding 10%
Generated on 17-10-2026, 4:59 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 | ₹12.91 L | 23.3% | -65.3% | 132.0% |
| 3 Years | ₹36.00 L | ₹45.07 L | 18.9% | -29.6% | 50.4% |
| 5 Years | ₹60.00 L | ₹97.22 L | 19.2% | -14.9% | 44.9% |
| 7 Years | ₹84.00 L | ₹1.70 Cr | 19.4% | -6.6% | 33.5% |
| 10 Years | ₹1.20 Cr | ₹3.74 Cr | 21.3% | 16.2% | 25.5% |
| 12 Years | ₹1.44 Cr | ₹5.20 Cr | 20.1% | 17.8% | 22.4% |
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 | 23.3% | 14.3% | 10.7% | +9.0% |
| 3 Years | 18.9% | 11.0% | 16.3% | +7.9% |
| 5 Years | 19.2% | 10.4% | 17.5% | +8.8% |
| 7 Years | 19.4% | 10.6% | 16.6% | +8.8% |
| 10 Years | 21.3% | 11.4% | 16.4% | +9.9% |
| 12 Years | 20.1% | 11.3% | 15.8% | +8.8% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 21.7% | 14.2% | -39.7% | 116.3% | 0.52 | 1.60 | 78% | — | — |
| 3 Years | 18.9% | 18.2% | -12.2% | 49.9% | 0.90 | 3.33 | 92% | — | — |
| 5 Years | 17.8% | 15.2% | -5.4% | 43.3% | 1.06 | 5.36 | 96% | — | — |
| 10 Years | 18.0% | 18.2% | 14.1% | 21.7% | 7.41 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +4.89 | 0.97 | 95.4% | 89.0% | -4.1% | -9.5% |
| 3 Years | +9.58 | 1.03 | 104.5% | 92.4% | 15.0% | 5.5% |
| 5 Years | +13.27 | 0.92 | 97.0% | 80.8% | 18.0% | 4.6% |
| 7 Years | +12.34 | 0.89 | 95.5% | 82.9% | 22.4% | 10.6% |
| 10 Years | +7.15 | 0.90 | 95.7% | 87.5% | 17.3% | 10.5% |
| 12 Years | +6.26 | 0.92 | 96.5% | 89.4% | 15.6% | 9.6% |
| 15 Years | +4.95 | 0.94 | 98.5% | 92.4% | 14.2% | 9.4% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | Interglobe Aviation Ltd. | 8.27% |
| 2 | Larsen & Toubro Ltd. | 5.56% |
| 3 | Reliance Industries Ltd. | 4.52% |
| 4 | Oberoi Realty Ltd. | 4.45% |
| 5 | NTPC Ltd. | 3.30% |
| 6 | Brigade Enterprises Ltd. | 3.26% |
| 7 | Kalpataru Projects International Ltd | 3.00% |
| 8 | Shree Cements Ltd. | 2.90% |
| 9 | HDFC Bank Ltd. | 2.78% |
| 10 | Cummins India Ltd. | 2.55% |