ICICI Prudential Multicap Fund
Direct · GrowthAI Summary
ICICI Prudential Multicap Fund has delivered strong SIP XIRR across horizons, including 20.17% over 1Y and 16.80% over 3Y, and has outperformed the NIFTY 50 lump-sum CAGR in every period shown (e.g., 18.56% vs 7.75% over 3Y). However, its XIRR trails the category average SIP XIRR over longer horizons, such as 16.35% vs 17.83% over 5Y and 17.23% vs 18.09% over 10Y. The fund shows consistent alpha versus the benchmark, ranging from 5.05% over 10Y to 14.64% over 1Y.
The fund exhibits a defensive risk profile relative to the NIFTY 50, with beta below 1 across all periods (0.88-1.07) and downside capture consistently between 81.88% and 91.36%, meaning it falls less than the benchmark in down markets. Risk-adjusted performance is solid, with Calmar ratios between 0.39 and 0.49 across horizons and only 7 drawdown events exceeding 10%. The maximum drawdown of -0.39% with a 66-day duration and 253-day recovery suggests the measured drawdown window reflects a relatively calm recent period rather than a full market cycle.
The portfolio is well diversified across 161 holdings, with the top 10 positions totaling only about 21.7% of NAV and the largest holding, Vedanta Aluminium Metal, at just 3.11%. Sector allocation is spread across cyclicals and industrials, led by Electrical Equipment (8.8%), Auto Components (7.6%), Industrial Products (7.5%), Finance (7.2%), and Capital Markets (6.7%). This balanced, low-concentration structure aligns with the multicap mandate and limits single-stock and single-sector risk.
The fund beats the category average SIP XIRR over 1Y (20.17% vs 15.06%) and 3Y (16.80% vs 16.01%), but lags over 5Y, 7Y, 10Y, and 12Y, indicating stronger recent relative performance. Calendar year returns show consistency, with positive returns in all 14 years from 2013 to 2026, though 2018 (1.67%) and 2022 (4.15%) were notably weak. Its long-term alpha versus the NIFTY 50 and low downside capture suggest disciplined risk management relative to the broad market.
This fund suits investors seeking diversified exposure across large, mid, and small caps with a long-term horizon of at least 5-7 years. Its below-benchmark downside capture makes it appropriate for investors with moderate risk tolerance who want equity growth with somewhat softer drawdowns than a pure index approach. SIP investors benefit from the fund's strong recent XIRR performance, though those prioritizing long-horizon category outperformance should note its slight lag over 5Y and beyond.
- Consistent positive calendar year returns from 2013 through 2026, including 50.75% in 2014 and 36.94% in 2021
- Strong alpha versus NIFTY 50 across all periods, with downside capture below 92% indicating superior downside protection
- Highly diversified portfolio of 161 holdings with the top 10 positions at only about 21.7% of NAV
- SIP XIRR trails the category average over 5Y (16.35% vs 17.83%), 7Y (16.20% vs 18.13%), and 10Y (17.23% vs 18.09%) horizons
- Heavy tilt toward cyclical sectors such as Electrical Equipment, Auto Components, and Industrial Products could underperform in a domestic growth slowdown
Generated on 06-09-2026, 7:56 PM. 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% | -60.4% | 100.4% |
| 3 Years | ₹36.00 L | ₹45.92 L | 16.8% | -23.4% | 37.0% |
| 5 Years | ₹60.00 L | ₹90.25 L | 16.4% | -9.4% | 31.9% |
| 7 Years | ₹84.00 L | ₹1.50 Cr | 16.2% | -1.2% | 25.3% |
| 10 Years | ₹1.20 Cr | ₹2.95 Cr | 17.2% | 13.5% | 20.9% |
| 12 Years | ₹1.44 Cr | ₹4.22 Cr | 16.9% | 14.3% | 19.1% |
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% | 14.4% | 15.1% | +5.8% |
| 3 Years | 16.8% | 11.1% | 16.0% | +5.7% |
| 5 Years | 16.4% | 10.4% | 17.8% | +6.0% |
| 7 Years | 16.2% | 10.6% | 18.1% | +5.6% |
| 10 Years | 17.2% | 11.5% | 18.1% | +5.8% |
| 12 Years | 16.9% | 11.4% | 17.3% | +5.5% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 19.2% | 12.2% | -34.6% | 94.4% | 0.60 | 2.13 | 88% | — | — |
| 3 Years | 17.1% | 17.7% | -7.9% | 34.9% | 1.43 | 5.60 | 97% | — | — |
| 5 Years | 16.2% | 16.2% | -0.1% | 32.4% | 1.68 | 15.45 | 100% | — | — |
| 10 Years | 16.6% | 16.2% | 13.9% | 19.4% | 8.38 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +14.64 | 1.07 | 109.9% | 91.4% | 11.1% | -2.9% |
| 3 Years | +10.91 | 0.92 | 99.0% | 85.2% | 18.6% | 7.8% |
| 5 Years | +8.89 | 0.89 | 93.0% | 81.9% | 16.6% | 7.8% |
| 7 Years | +7.66 | 0.89 | 92.8% | 84.7% | 18.9% | 11.8% |
| 10 Years | +5.05 | 0.88 | 90.9% | 84.5% | 15.3% | 10.8% |
| 12 Years | +6.07 | 0.88 | 90.4% | 82.9% | 15.5% | 9.8% |
| 15 Years | +5.44 | 0.88 | 90.8% | 83.5% | 14.8% | 9.7% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | Vedanta Aluminium Metal Ltd. | 3.11% |
| 2 | BSE Ltd. | 3.00% |
| 3 | Ultratech Cement Ltd. | 2.65% |
| 4 | Jindal Steel Ltd. | 2.32% |
| 5 | Apar Industries Ltd. | 2.30% |
| 6 | Interglobe Aviation Ltd. | 2.28% |
| 7 | ABB India Ltd. | 2.08% |
| 8 | K.P.R. Mill Ltd. | 2.04% |
| 9 | Samvardhana Motherson International Ltd. | 2.00% |
| 10 | PB Fintech Ltd. | 1.96% |