ICICI Prudential Large Cap Fund
Direct · GrowthAI Summary
ICICI Prudential Large Cap Fund has delivered consistent outperformance versus the NIFTY 50, with positive alpha across all periods from 1Y (0.98%) to 15Y (3.62%). Its SIP XIRR of 16.31% over 3Y and 16.71% over 5Y comfortably beats the category averages of 13.99% and 14.35% respectively. The 1Y XIRR of 8.59% also leads the category's 7.75%, though the fund's 2026 calendar return of -11.52% reflects a challenging year for large caps.
The fund exhibits lower volatility than the benchmark with beta below 1 across all periods (0.91-0.95) and downside capture consistently under 92%, meaning it falls less than the index in corrections. The maximum drawdown of -0.37% with a 66-day duration and 232-day recovery indicates strong resilience, though 9 drawdown events exceeding 10% highlight that meaningful interim losses do occur. Calmar ratios of 0.41-0.45 across horizons reflect solid risk-adjusted returns for a large cap fund.
The portfolio is anchored in financials, with Banks at 25.4% of NAV led by ICICI Bank (9.34%) and HDFC Bank (7.86%), plus Axis Bank at 4.08%. Reliance Industries (5.59%) and L&T (4.11%) round out a classic large cap core, spread across 83 holdings for reasonable diversification. The heavy banking tilt is a concentration risk, though exposure to telecom, autos, cement, and IT provides balance.
The fund beats category average SIP XIRR at every horizon, including 15.46% vs 13.97% over 7Y and 16.04% vs 14.24% over 10Y. Positive alpha in every measured period from 1Y to 15Y demonstrates sustained stock selection skill rather than a single lucky stretch. This consistency places it among the stronger performers in the Large Cap category.
This fund suits investors seeking core large cap exposure with a long-term horizon of 5-7 years or more, given its steady 15-16% SIP XIRR over extended periods. It is appropriate for moderate risk tolerance investors who want index-like participation with lower downside capture and active alpha. SIP investors in particular benefit from its consistent category-beating XIRR across all time frames.
- Positive alpha versus NIFTY 50 in every period from 1Y to 15Y, including 4.52% over 5Y
- SIP XIRR beats category averages at all horizons (e.g., 16.31% vs 13.99% over 3Y)
- Downside capture below 92% across all periods, offering better downside protection than the index
- Heavy sector concentration in Banks at 25.4% of NAV, with the top three bank holdings alone exceeding 21%
- Recent performance is weak, with a -11.52% calendar return in 2026 and a 1Y fund CAGR of -9.97%
Generated on 25-10-2026, 2:27 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 | ₹12.75 L | 17.4% | -57.9% | 89.3% |
| 3 Years | ₹36.00 L | ₹45.22 L | 15.2% | -21.2% | 32.1% |
| 5 Years | ₹60.00 L | ₹88.66 L | 15.4% | -7.5% | 27.9% |
| 7 Years | ₹84.00 L | ₹1.45 Cr | 15.4% | -0.7% | 22.9% |
| 10 Years | ₹1.20 Cr | ₹2.79 Cr | 16.0% | 12.3% | 19.5% |
| 12 Years | ₹1.44 Cr | ₹3.98 Cr | 15.4% | 12.5% | 17.6% |
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 | 17.4% | 14.3% | 7.7% | +3.1% |
| 3 Years | 15.2% | 11.0% | 14.0% | +4.2% |
| 5 Years | 15.4% | 10.4% | 14.3% | +5.0% |
| 7 Years | 15.4% | 10.6% | 14.0% | +4.9% |
| 10 Years | 16.0% | 11.4% | 14.2% | +4.6% |
| 12 Years | 15.4% | 11.3% | 13.8% | +4.1% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 16.9% | 12.6% | -31.7% | 92.8% | 0.58 | 1.85 | 86% | — | — |
| 3 Years | 15.7% | 16.0% | -5.1% | 34.0% | 1.67 | 7.79 | 99% | — | — |
| 5 Years | 15.3% | 15.3% | 0.0% | 29.8% | 1.90 | 17.92 | 100% | — | — |
| 10 Years | 15.4% | 15.4% | 12.7% | 17.8% | 8.05 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +0.29 | 0.95 | 93.6% | 92.8% | -9.7% | -10.9% |
| 3 Years | +3.90 | 0.93 | 95.2% | 89.9% | 10.3% | 6.4% |
| 5 Years | +4.28 | 0.91 | 93.9% | 88.2% | 9.6% | 5.2% |
| 7 Years | +4.03 | 0.92 | 93.9% | 89.4% | 13.7% | 10.0% |
| 10 Years | +2.98 | 0.93 | 94.8% | 91.2% | 13.0% | 10.3% |
| 12 Years | +3.42 | 0.93 | 95.2% | 91.1% | 12.3% | 9.0% |
| 15 Years | +3.60 | 0.92 | 95.0% | 90.3% | 12.8% | 9.4% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | ICICI Bank Ltd. | 8.92% |
| 2 | HDFC Bank Ltd. | 8.44% |
| 3 | Reliance Industries Ltd. | 5.46% |
| 4 | Bharti Airtel Ltd. | 4.21% |
| 5 | Axis Bank Ltd. | 4.14% |
| 6 | Larsen & Toubro Ltd. | 3.82% |
| 7 | Ultratech Cement Ltd. | 2.92% |
| 8 | Maruti Suzuki India Ltd. | 2.67% |
| 9 | Life Insurance Corporation of India | 2.59% |
| 10 | Mahindra & Mahindra Ltd. | 2.51% |