ICICI Prudential Value Fund (erstwhile Value Discovery Fund)
Value Fund · ICICI Prudential Asset Management Company Limited
Among the 96 similar value funds we track, this one has grown money a bit faster than average. ₹1 lakh invested 5 years ago would be about ₹1.9 lakh today. Investing ₹10,000 every month for the last 10 years would have put in ₹12.1 lakh and grown it to about ₹27.5 lakh. Be warned: in its worst stretch, ₹1 lakh briefly shrank to about ₹63,300. Funds like this reward patience and punish panic-selling.
New to fund research? Start with the 5-minute guide. The detailed numbers below back all of this up.ICICI Prudential Value Fund (erstwhile Value Discovery Fund) is a value fund from ICICI Prudential Asset Management Company Limited. It has a track record of about 13.7 years. As of the latest data it carries an RS rating of 16/99 (its recent momentum versus category peers) and a King Score of 73/100 (a long-term quality composite). The current NAV is ₹491.43 (as of 2026-09-16).
Growth of ₹100 - last 5 years
ICICI Prudential Value Fund (erstwhile Value Discovery Fund) returns: last 1, 3, 5 and 10 years
| Period | This fund | Category average |
|---|---|---|
| 1 month | -4.52% | -3.74% |
| 3 months | -3.13% | -0.5% |
| 6 months | -2.58% | 5.51% |
| 1 year | -6.13% | 1.58% |
| 3 years (CAGR) | 10.68% | 12.0% |
| 5 years (CAGR) | 13.84% | 12.05% |
| 10 years (CAGR) | 14.2% | 13.13% |
The last 10 years return of ICICI Prudential Value Fund (erstwhile Value Discovery Fund) works out to 14.2% a year (CAGR) - ₹1 lakh invested 10 years ago would be about ₹3.8 lakh today. The last 5 years return is 13.84% a year (₹1 lakh → ₹1.9 lakh), and the last 3 years return is 10.68% - behind its category's 12.0% average by 1.3 points. Its trailing one-year return is -6.13%. Trailing returns flatter or disappoint depending on the end date you pick - the year-by-year and rolling-return sections below are a fairer read.
Year-by-year returns
| Year | ICICI Prudential Value | Benchmark |
|---|---|---|
| 2018 | -3.3% | -3.4% |
| 2019 | +1.2% | +7.7% |
| 2020 | +23.5% | +16.7% |
| 2021 | +39.3% | +30.2% |
| 2022 | +15.6% | +3.0% |
| 2023 | +32.1% | +25.8% |
| 2024 | +20.7% | +15.2% |
| 2025 | +14.4% | +6.7% |
| 2026 | -10.5% | -5.8% |
ICICI Prudential Value Fund (erstwhile Value Discovery Fund) beat its benchmark in 7 of the last 9 calendar years. That is a strong hit-rate - most active funds fail to clear their index this often. Consistency against the benchmark matters more than any single great year.
Calendar-year returns show how bumpy the ride really was - an average hides the good years and the ugly ones.
What a monthly SIP in ICICI Prudential Value Fund (erstwhile Value Discovery Fund) would have made
A ₹10,000-a-month SIP, using this fund's actual NAV history. SIP returns (XIRR) differ from lumpsum CAGR because your money goes in gradually, averaging your entry price.
| SIP duration | You invested | It became | XIRR |
|---|---|---|---|
| 3 years | ₹370,000 | ₹387,149 | 2.97% |
| 5 years | ₹610,000 | ₹802,997 | 10.93% |
| 10 years | ₹1,210,000 | ₹2,749,716 | 15.65% |
Over 10 years, ₹1,210,000 invested in monthly instalments would have grown to about ₹2,749,716 - an XIRR of 15.65%. Figures are pre-tax and assume you stayed invested throughout.
Risk & drawdowns
| Measure | This fund | Category average |
|---|---|---|
| Worst drawdown (lifetime) | -36.7% | -33.95% |
| Worst drawdown (3Y) | -14.01% | -18.61% |
| Volatility (1Y) | 14.65% | 17.05% |
| Sharpe (3Y) | 0.35 | 0.36 |
| Sortino (3Y) | 0.63 | 0.64 |
| Beta (3Y) | 0.76 | 0.97 |
| Alpha (3Y) | 2.83% | 3.7% |
| Up capture | 81.5% | 100.86% |
| Down capture | 71.2% | 91.24% |
| Bull-market return | 29.0% | 31.15% |
| Bear-market return | -27.4% | -30.05% |
Timing matters more than people admit: the best possible 1-year stretch in ICICI Prudential Value Fund (erstwhile Value Discovery Fund) (starting 2013-09-03) gained 104.7%, while the worst (starting 2019-03-22) lost 32.4%. The worst peak-to-bottom fall ICICI Prudential Value Fund (erstwhile Value Discovery Fund) has ever put investors through is -36.7% - the real test of whether you'd have stayed invested. In falling markets (Nifty below its 200-day average) it has returned about -27.4% annualised, versus 29.0% in rising markets. It has captured roughly 81.5% of its benchmark's up-moves and 71.2% of its down-moves.
How ICICI Prudential Value Fund (erstwhile Value Discovery Fund) behaves when markets fall
When the market is falling (the Nifty below its 200-day average), ICICI Prudential Value Fund (erstwhile Value Discovery Fund) has historically returned about -27.4% annualised, versus roughly 29.0% when the market is rising. Its deepest fall on record is -36.7%. Right now it sits about 10.96% below its all-time high (last hit 2026-01-02). The real question isn't the average year - it's whether you could hold on through the worst one.
How ICICI Prudential Value Fund (erstwhile Value Discovery Fund) ranks in its category
Percentile versus its ~96 category peers - 100th is best-in-class, 50th is average. This is the fairest apples-to-apples read.
Consistency (rolling returns)
| Measure | Value |
|---|---|
| Median 3Y rolling CAGR | 20.49% |
| 3Y windows positive | 97.8% |
| Worst 3Y window | -7.4% |
| 3Y windows beating Nifty 500 | 86.9% |
| Median 5Y rolling CAGR | 16.76% |
| Median 10Y rolling CAGR | 17.47% |
Instead of one lucky start date, rolling returns test every start date. Across all 3-year windows in its history, ICICI Prudential Value Fund (erstwhile Value Discovery Fund) returned a median of 20.49% a year, and 97.8% of those windows were positive.
What ICICI Prudential Value Fund (erstwhile Value Discovery Fund) holds
Its latest monthly portfolio disclosure. This is what your money actually owns.
Top holdings
Sector allocation
The top 10 holdings make up 51.7% of the portfolio, across 61 stocks. A higher concentration means the fund's fortunes ride on fewer names.
Portfolio overlap with similar funds
ICICI Prudential Value Fund (erstwhile Value Discovery Fund) shares Axis Value Fund (0%), DSP Value Fund (0%), HSBC Value Fund (0%) of its portfolio with these category peers (overlap = the slice of the two portfolios invested in the same stocks). The lower the overlap, the more genuinely different the portfolios are.
Who manages ICICI Prudential Value Fund (erstwhile Value Discovery Fund) - and how good are they?
ICICI Prudential Value Fund (erstwhile Value Discovery Fund) is managed by Sankaran Naren, Dharmesh Kakkad and Sharmila D'Silva. Below is each manager's complete track record - every fund they currently run, judged on the same numbers as everything else on this page - so you can see whether this fund is in strong hands or is the outlier in a weak book.
Sankaran Naren's full record
Sankaran Naren currently runs 7 funds, across Aggressive Hybrid Fund, FoF Domestic, Large Cap Fund, Sectoral/ Thematic and more, with about ₹232,446 Cr under management. The book's average King Score is 66.1/100. Their strongest fund by King Score is ICICI Prudential Equity & Debt Fund (89/100); ICICI Prudential Value Fund (erstwhile Value Discovery Fund) ranks #3 of 7 in their book.
Tap any column heading to sort.
| # | Fund | RS | King | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR | 10Y CAGR | Sharpe | Roll 3Y | Worst fall |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | ICICI Prudential Equity & Debt Fund | 56 | 89 | -0.3% | 2.2% | -0.2% | 12.4% | 14.2% | 15.0% | 0.56 | 18.3% | -30.7% |
| 2 | ICICI Prudential Large Cap Fund (erstwhile Bluechip Fund) | 22 | 76 | -2.6% | -0.5% | -5.8% | 9.5% | 10.6% | 13.2% | 0.23 | 16.2% | -37.3% |
| 3 | ICICI Prudential Value Fund (erstwhile Value Discovery Fund) (this page) | 16 | 73 | -3.1% | -2.6% | -6.1% | 10.7% | 13.8% | 14.2% | 0.35 | 20.5% | -36.7% |
| 4 | ICICI Prudential Exports & Services Fund | 50 | 67 | 0.7% | 8.1% | 1.5% | 13.4% | 13.4% | 13.8% | 0.54 | 18.8% | -37.5% |
| 5 | ICICI Prudential India Opportunities Fund | 22 | 66 | -1.9% | 1.3% | -1.1% | 12.9% | 16.9% | n/a | 0.51 | 26.7% | -40.1% |
| 6 | ICICI Prudential Aggressive Hybrid Active FOF | 32 | 49 | 1.1% | 6.0% | -1.1% | 12.7% | 13.1% | 15.2% | 0.57 | 18.7% | -35.7% |
| 7 | ICICI Prudential Multi Sector Passive FOF | 29 | 43 | -0.7% | 5.4% | 2.1% | 11.3% | 11.0% | 12.5% | 0.39 | 13.9% | -34.9% |
Dharmesh Kakkad's full record
Dharmesh Kakkad currently runs 7 funds, across Equity Savings, FoF Domestic, Sectoral/ Thematic, Value Fund, with about ₹120,003 Cr under management. The book's average King Score is 58.9/100. Their strongest fund by King Score is ICICI Prudential Pharma Healthcare and Diagnostics (P.H.D) Fund (81/100); ICICI Prudential Value Fund (erstwhile Value Discovery Fund) ranks #2 of 7 in their book.
Tap any column heading to sort.
| # | Fund | RS | King | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR | 10Y CAGR | Sharpe | Roll 3Y | Worst fall |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | ICICI Prudential Pharma Healthcare and Diagnostics (P.H.D) Fund | 69 | 81 | 2.2% | 14.1% | 5.1% | 21.1% | 15.4% | n/a | 1.02 | 25.4% | -20.6% |
| 2 | ICICI Prudential Value Fund (erstwhile Value Discovery Fund) (this page) | 16 | 73 | -3.1% | -2.6% | -6.1% | 10.7% | 13.8% | 14.2% | 0.35 | 20.5% | -36.7% |
| 3 | ICICI Prudential Equity Savings Fund | 64 | 58 | 1.1% | 1.8% | 2.5% | 6.7% | 7.4% | 7.9% | 0.07 | 8.8% | -19.2% |
| 4 | ICICI Prudential Dynamic Asset Allocation Active FOF | 24 | 57 | -0.3% | 3.7% | 1.7% | 10.2% | 10.7% | 12.1% | 0.55 | 13.8% | -26.4% |
| 5 | ICICI Prudential Diversified Equity All Cap Omni FOF | 29 | 51 | 0.1% | 6.1% | -0.0% | 13.6% | 14.1% | n/a | 0.53 | 23.8% | -31.4% |
| 6 | ICICI Prudential Aggressive Hybrid Active FOF | 32 | 49 | 1.1% | 6.0% | -1.1% | 12.7% | 13.1% | 15.2% | 0.57 | 18.7% | -35.7% |
| 7 | ICICI Prudential Multi Sector Passive FOF | 29 | 43 | -0.7% | 5.4% | 2.1% | 11.3% | 11.0% | 12.5% | 0.39 | 13.9% | -34.9% |
Sharmila D'Silva's full record
Sharmila D'Silva currently runs 25 funds, across Aggressive Hybrid Fund, Arbitrage Fund, Dynamic Asset Allocation or Balanced Advantage, ELSS and more, with about ₹458,508 Cr under management. The book's average King Score is 66.2/100. Their strongest fund by King Score is ICICI Prudential Focused Equity Fund (90/100); ICICI Prudential Value Fund (erstwhile Value Discovery Fund) ranks #10 of 25 in their book.
Tap any column heading to sort.
| # | Fund | RS | King | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR | 10Y CAGR | Sharpe | Roll 3Y | Worst fall |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | ICICI Prudential Focused Equity Fund | 44 | 90 | 0.1% | 5.1% | -0.9% | 15.4% | 14.8% | 14.9% | 0.63 | 16.7% | -34.1% |
| 2 | ICICI Prudential Equity & Debt Fund | 56 | 89 | -0.3% | 2.2% | -0.2% | 12.4% | 14.2% | 15.0% | 0.56 | 18.3% | -30.7% |
| 3 | ICICI Prudential Large & Mid Cap Fund | 32 | 87 | -0.4% | 4.3% | -0.6% | 13.9% | 15.1% | 15.1% | 0.54 | 17.7% | -37.4% |
| 4 | ICICI Prudential Strategic Metal and Energy Equity Fund of Fund | 99 | 85 | 20.6% | 16.6% | 69.1% | 36.4% | n/a | n/a | 1.15 | 20.2% | -24.3% |
| 5 | ICICI Prudential Business Cycle Fund | 9 | 80 | -4.1% | 0.0% | -3.8% | 13.4% | 15.0% | n/a | 0.5 | 23.7% | -14.4% |
| 6 | ICICI Prudential Balanced Advantage Fund | 87 | 79 | 0.9% | 4.5% | 3.2% | 10.6% | 10.5% | 11.2% | 0.55 | 12.8% | -27.0% |
| 7 | ICICI Prudential Arbitrage Fund | 82 | 76 | 1.6% | 3.1% | 6.6% | 7.3% | 6.7% | 6.3% | 0.82 | 6.7% | -0.6% |
| 8 | ICICI Prudential Large Cap Fund (erstwhile Bluechip Fund) | 22 | 76 | -2.6% | -0.5% | -5.8% | 9.5% | 10.6% | 13.2% | 0.23 | 16.2% | -37.3% |
| 9 | ICICI Prudential Manufacturing Fund | 53 | 74 | -1.3% | 9.7% | 6.3% | 18.4% | 18.2% | n/a | 0.7 | 26.2% | -37.6% |
| 10 | ICICI Prudential Value Fund (erstwhile Value Discovery Fund) (this page) | 16 | 73 | -3.1% | -2.6% | -6.1% | 10.7% | 13.8% | 14.2% | 0.35 | 20.5% | -36.7% |
| 11 | ICICI Prudential NASDAQ 100 Index Fund | 96 | 72 | -4.1% | 21.0% | 30.9% | 30.0% | n/a | n/a | 1.03 | 28.1% | -30.0% |
| 12 | ICICI Prudential US Bluechip Equity Fund | 85 | 72 | 7.5% | 11.6% | 18.2% | 16.2% | 13.1% | 16.4% | 0.56 | 15.0% | -24.6% |
| 13 | ICICI Prudential Passive Multi-Asset Fund of Funds | 62 | 72 | 0.6% | 4.5% | 7.1% | 12.7% | n/a | n/a | 0.86 | 15.2% | -7.2% |
| 14 | ICICI Prudential ELSS Tax Saver Fund | 31 | 61 | -0.5% | 3.4% | -3.6% | 9.7% | 9.4% | 12.4% | 0.26 | 15.6% | -37.5% |
| 15 | ICICI Prudential Equity Savings Fund | 64 | 58 | 1.1% | 1.8% | 2.5% | 6.7% | 7.4% | 7.9% | 0.07 | 8.8% | -19.2% |
| 16 | ICICI Prudential Dynamic Asset Allocation Active FOF | 24 | 57 | -0.3% | 3.7% | 1.7% | 10.2% | 10.7% | 12.1% | 0.55 | 13.8% | -26.4% |
| 17 | ICICI Prudential Diversified Equity All Cap Omni FOF | 29 | 51 | 0.1% | 6.1% | -0.0% | 13.6% | 14.1% | n/a | 0.53 | 23.8% | -31.4% |
| 18 | ICICI Prudential Global Advantage Fund (FOF) | 72 | 50 | 1.1% | 9.2% | 16.0% | 19.5% | 10.3% | n/a | 0.85 | 6.1% | -27.1% |
| 19 | ICICI Prudential Smallcap Fund | 18 | 49 | 2.8% | 15.4% | 1.6% | 10.4% | 14.0% | 15.9% | 0.28 | 18.0% | -45.1% |
| 20 | ICICI Prudential Multi Sector Passive FOF | 29 | 43 | -0.7% | 5.4% | 2.1% | 11.3% | 11.0% | 12.5% | 0.39 | 13.9% | -34.9% |
| 21 | ICICI Prudential Banking and Financial Services Fund | 23 | 42 | -1.1% | 1.9% | -2.7% | 8.5% | 9.1% | 12.0% | 0.15 | 16.0% | -47.8% |
| 22 | ICICI Prudential FMCG Fund | 1 | 20 | -5.7% | -4.4% | -19.4% | -3.6% | 4.4% | 8.9% | -0.74 | 14.0% | -29.6% |
| 23 | ICICI Prudential Energy Opportunities Fund | 58 | n/a | -2.0% | 8.1% | 11.7% | n/a | n/a | n/a | 0.01 | n/a | -18.7% |
| 24 | ICICI Prudential Quality Fund | 54 | n/a | 2.4% | 7.0% | 1.9% | n/a | n/a | n/a | -0.2 | n/a | -12.6% |
| 25 | ICICI Prudential Rural Opportunities Fund | 12 | n/a | -1.4% | 0.0% | -6.7% | n/a | n/a | n/a | -0.13 | n/a | -14.4% |
A caveat worth keeping: funds often have co-managers, and results belong to the whole team and process rather than one person. A manager's book tells you about their range and consistency, not a guarantee of skill.
Cost & fund basics
| Detail | Value |
|---|---|
| Expense ratio (Direct) | 0.83% |
| Exit load | ≈1% if redeemed within 1 year (typical) |
| Minimum investment | ₹500 |
| Fund size (AUM) | ₹58,954 Cr |
| Age | 13.7 years |
| Plan / Option | Direct · Growth |
| Benchmark | NIFTY500 |
How ICICI Prudential Value Fund (erstwhile Value Discovery Fund) compares to peers
| Fund | RS | King | 3Y CAGR |
|---|---|---|---|
| Axis Value Fund | 92 | 95 | 17.1% |
| DSP Value Fund | 71 | 93 | 15.1% |
| HSBC Value Fund | 70 | 90 | 14.8% |
| HDFC Value Fund | 86 | 84 | 14.8% |
| Quant Value Fund | 94 | 81 | 19.4% |
| LIC MF Value Fund | 99 | 75 | 15.8% |
Overlap warning: funds in the same category often own many of the same stocks - holding several rarely adds the diversification people expect.
What these numbers mean
RS rating (1-99) ranks a fund's recent momentum against its category - higher is stronger right now. King Score (0-100) is a long-term quality composite (returns, consistency, drawdown, risk-adjusted return) versus peers. Max drawdown is the worst peak-to-bottom fall the fund has ever experienced. Rolling returns test every possible start date, so one lucky (or unlucky) entry point can't distort the picture. Every formula behind this page is public - see how we calculate every number.
ICICI Prudential Value Fund (erstwhile Value Discovery Fund) review: the bottom line
Related
Frequently asked questions
Is ICICI Prudential Value Fund (erstwhile Value Discovery Fund) a good mutual fund?
That depends on your goals and risk tolerance - this is descriptive research, not advice. On the numbers, ICICI Prudential Value Fund (erstwhile Value Discovery Fund) scores 73/100 on our King Score and RS 16/99 within its category, has compounded 10.68% a year over three years, and its worst drawdown was -36.7%. Compare those against your needs and the peer table above.
What is the NAV of ICICI Prudential Value Fund (erstwhile Value Discovery Fund) today?
The latest NAV is ₹491.43 (as of 2026-09-16). NAV (net asset value) is the per-unit price of the fund, published every business day by the AMC.
What is the last 10 years return of ICICI Prudential Value Fund (erstwhile Value Discovery Fund)?
Over the last 10 years ICICI Prudential Value Fund (erstwhile Value Discovery Fund) has returned about 14.2% a year (CAGR). In rupees: ₹1 lakh invested 10 years ago would be roughly ₹3.8 lakh today, before tax. See the year-by-year table above for how uneven the ride was.
What is the expense ratio of ICICI Prudential Value Fund (erstwhile Value Discovery Fund)?
The Direct-plan expense ratio is 0.83% a year. The Direct plan is cheaper than the Regular plan because it carries no distributor commission - over decades that gap compounds meaningfully.
Who is the fund manager of ICICI Prudential Value Fund (erstwhile Value Discovery Fund)?
ICICI Prudential Value Fund (erstwhile Value Discovery Fund) is managed by Sankaran Naren; Dharmesh Kakkad; Sharmila D'Silva; Masoomi Jhurmarvala.
Is ICICI Prudential Value Fund (erstwhile Value Discovery Fund) safe? How risky is it?
No market-linked fund is 'safe' in the fixed-deposit sense - the honest question is how deep its falls get. Its worst historical drawdown was -36.7% - ₹1 lakh briefly becoming about ₹63,300. As a equity fund, its risk profile is typical of that category. Look at the drawdown, volatility and bear-market figures above and ask whether you could stay invested through the bad stretches.
Is ICICI Prudential Value Fund (erstwhile Value Discovery Fund) good for SIP?
We can't tell you what to do, but here is what actually happened: a ₹10,000 monthly SIP over the last 10 years grew ₹12.1 lakh into about ₹27.5 lakh (XIRR 15.65%). SIPs average your entry price, which helps most in funds that swing hard - check the crash-behaviour section above to see how it treats investors in bad markets.
What are the SIP returns of ICICI Prudential Value Fund (erstwhile Value Discovery Fund)?
A ₹10,000/month SIP over 10 years would have grown to about ₹2,749,716 (an XIRR of 15.65%) on ₹1,210,000 invested, using the fund's actual NAV history. See the SIP table above for other durations.
How does ICICI Prudential Value Fund (erstwhile Value Discovery Fund) rank among similar funds?
On 3-year returns it sits around the 64th percentile of its category, and its consistency ranks 94th percentile. 100th is best-in-class, 50th is average. See the category-ranking section above.
Is ICICI Prudential Value Fund (erstwhile Value Discovery Fund) tax-efficient / what about capital gains?
As a equity fund, gains follow the rules for its asset class - equity-oriented funds are taxed differently from debt. All returns on this page are pre-tax; your actual post-tax return depends on your holding period and slab. This is descriptive information, not tax advice.
Direct or Regular plan - which is shown here?
All figures on this page are for the Direct-Growth plan (no distributor commission, lower cost). Returns are pre-tax; capital-gains tax depends on your own holding period and slab.
See ICICI Prudential Value Fund (erstwhile Value Discovery Fund) live in the MF Terminal
Everything above is a static snapshot. The terminal is where you actually research it:
- Interactive price chart with EMAs & RSI
- The RS line plotted against its benchmark
- Full holdings, sector mix & portfolio overlap
- Point-in-time backtester & portfolio doctor
- Compare it side-by-side with any peer
- Screen 1,600+ funds on the same metrics
Data: AMFI NAV history, NSE indices, BSE StAR and monthly disclosures. All figures are pre-tax. Descriptive research and education only - nothing here is investment advice or a recommendation to buy, sell or hold any fund. Past performance does not guarantee future returns.