ICICI Prudential Technology Fund
Direct · GrowthAI Summary
ICICI Prudential Technology Fund has delivered strong long-term SIP returns, with 10Y XIRR of 20.36% and 12Y XIRR of 18.36%, well ahead of the category averages of 16.44% and 15.79% respectively. However, recent performance has softened, with the 1Y XIRR of 7.58% trailing the category average of 10.64% and the 3Y XIRR of 15.45% slightly below the category's 16.22%. Against the NIFTY 50, the fund shows strong long-term outperformance, including a 7Y alpha of 10.37% and 10Y alpha of 8.33%, though the 5Y alpha is negative at -1.99%.
The fund exhibits high volatility typical of a sectoral technology fund, with 9 drawdown events exceeding 10% and calendar-year swings ranging from +76.24% in 2021 to -22.9% in 2022. Its beta of 0.74-0.90 versus NIFTY 50 with downside capture as low as 63.86% over 15Y indicates it has historically fallen less than the benchmark in downturns. Calmar ratios between 0.53 and 0.64 across horizons reflect moderate risk-adjusted efficiency given the sector's inherent volatility.
The portfolio is heavily concentrated in IT-Software at 46.8%, with IT-Services adding 7.7% and Telecom-Services at 13.9%, led by Infosys (12.34%) and Bharti Airtel (11.44%). With 55 total holdings, the top 10 account for roughly 52.7% of NAV, providing reasonable stock-level diversification within a tightly focused sector theme. The exposure to non-traditional tech names like Eternal (Retailing, 2.35%) adds modest breadth beyond pure IT services.
Over long horizons the fund clearly outpaces its category, beating the category average SIP XIRR by roughly 3.9 percentage points over 10Y (20.36% vs 16.44%) and 2.6 points over 12Y. Its consistency is mixed in the short term, with the 1Y and 3Y XIRR lagging category peers amid a weak technology cycle. The strong 5Y, 7Y, and 10Y track record suggests the fund has historically captured tech upcycles effectively.
This fund is suitable for investors with high risk tolerance who understand sector concentration risk and can withstand drawdowns exceeding 20% in weak years like 2022. A time horizon of at least 5-7 years is advisable, as the fund's best returns emerge over long holding periods and sector cycles can remain depressed for years. It should be treated as a satellite allocation of a broader diversified portfolio, not a core holding.
- Strong long-term SIP returns, with 10Y XIRR of 20.36% and 7Y XIRR of 22.03%, well above category averages
- Consistent alpha versus NIFTY 50 over long horizons, including 10.37% over 7Y and 8.33% over 10Y
- Low downside capture in extended periods (63.86% over 15Y), indicating resilience in market downturns
- Recent underperformance, with 1Y XIRR of 7.58% and 3Y XIRR of 15.45% trailing category averages, and negative 5Y alpha of -1.99%
- Heavy sector concentration in IT-Software (46.8%) exposes investors to sharp cyclical swings, as seen in 2022's -22.9% return
Generated on 25-10-2026, 2:26 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 | ₹12.56 L | 23.4% | -54.1% | 170.0% |
| 3 Years | ₹36.00 L | ₹45.13 L | 19.0% | -15.2% | 70.9% |
| 5 Years | ₹60.00 L | ₹96.60 L | 20.7% | -4.7% | 46.9% |
| 7 Years | ₹84.00 L | ₹1.91 Cr | 22.0% | 1.2% | 35.5% |
| 10 Years | ₹1.20 Cr | ₹3.53 Cr | 20.4% | 14.4% | 24.7% |
| 12 Years | ₹1.44 Cr | ₹4.91 Cr | 18.5% | 14.4% | 23.6% |
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 | 23.4% | 14.3% | 10.6% | +9.2% |
| 3 Years | 19.0% | 11.0% | 16.2% | +8.0% |
| 5 Years | 20.7% | 10.4% | 17.4% | +10.4% |
| 7 Years | 22.0% | 10.6% | 16.6% | +11.4% |
| 10 Years | 20.4% | 11.4% | 16.4% | +9.0% |
| 12 Years | 18.5% | 11.3% | 15.8% | +7.2% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 22.4% | 14.6% | -31.6% | 172.2% | 0.48 | 1.84 | 71% | — | — |
| 3 Years | 19.4% | 15.6% | 0.7% | 48.9% | 1.17 | 20.81 | 100% | — | — |
| 5 Years | 20.8% | 21.9% | 0.5% | 36.9% | 1.69 | 23.03 | 100% | — | — |
| 10 Years | 19.1% | 19.2% | 15.5% | 22.7% | 7.23 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | -0.25 | 0.79 | 82.7% | 78.0% | -9.0% | -12.7% |
| 3 Years | +2.14 | 0.86 | 93.5% | 89.4% | 7.7% | 5.4% |
| 5 Years | -1.02 | 0.90 | 93.9% | 94.1% | 3.7% | 4.5% |
| 7 Years | +10.23 | 0.83 | 93.1% | 81.5% | 19.6% | 10.0% |
| 10 Years | +8.53 | 0.76 | 83.6% | 72.4% | 17.7% | 10.0% |
| 12 Years | +6.73 | 0.74 | 81.0% | 71.4% | 15.1% | 9.1% |
| 15 Years | +8.51 | 0.68 | 76.6% | 63.9% | 16.9% | 9.2% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | Infosys Ltd. | 12.34% |
| 2 | Bharti Airtel Ltd. | 11.44% |
| 3 | Tech Mahindra Ltd. | 7.61% |
| 4 | Mphasis Ltd. | 4.53% |
| 5 | COFORGE Ltd. | 4.30% |
| 6 | LTIMindtree Ltd. | 2.71% |
| 7 | Sagility India Ltd | 2.57% |
| 8 | Wipro Ltd. | 2.56% |
| 9 | Eternal Ltd. | 2.35% |
| 10 | Persistent Systems Ltd. | 2.28% |