ICICI Prudential Equity Minimum Variance Fund
Sectoral/ Thematic · ICICI Prudential Asset Management Company Limited
Be warned: in its worst stretch, ₹1 lakh briefly shrank to about ₹85,990. Its ride has historically been comparatively steady.
New to fund research? Start with the 5-minute guide. The detailed numbers below back all of this up.ICICI Prudential Equity Minimum Variance Fund is a Sectoral/ Thematic fund from ICICI Prudential Asset Management Company Limited. It has a track record of about 1.8 years. As of the latest data it carries an RS rating of 17/99 (its recent momentum versus category peers). The current NAV is ₹10.43 (as of 2026-09-16).
Growth of ₹100 - last 2 years
ICICI Prudential Equity Minimum Variance Fund returns: last 1, 3, 5 and 10 years
| Period | This fund | Category average |
|---|---|---|
| 1 month | -3.52% | -3.47% |
| 3 months | -1.97% | 2.0% |
| 6 months | 1.36% | 10.56% |
| 1 year | -2.89% | 4.78% |
Its trailing one-year return is -2.89%. 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 Equit | Benchmark |
|---|---|---|
| 2025 | +14.4% | n/a |
| 2026 | -7.1% | n/a |
Calendar-year returns show how bumpy the ride really was - an average hides the good years and the ugly ones.
Risk & drawdowns
| Measure | This fund | Category average |
|---|---|---|
| Worst drawdown (lifetime) | -14.01% | -26.37% |
| Worst drawdown (3Y) | -14.01% | -20.9% |
| Volatility (1Y) | 15.25% | 19.02% |
| Sharpe (3Y) | -0.32 | 0.31 |
| Bull-market return | 25.1% | 30.78% |
| Bear-market return | -22.6% | -23.76% |
Timing matters more than people admit: the best possible 1-year stretch in ICICI Prudential Equity Minimum Variance Fund (starting 2025-02-25) gained 17.3%, while the worst (starting 2025-09-12) lost 3.5%. The worst peak-to-bottom fall ICICI Prudential Equity Minimum Variance Fund has ever put investors through is -14.01% - the real test of whether you'd have stayed invested. In falling markets (Nifty below its 200-day average) it has returned about -22.6% annualised, versus 25.1% in rising markets.
How ICICI Prudential Equity Minimum Variance Fund behaves when markets fall
When the market is falling (the Nifty below its 200-day average), ICICI Prudential Equity Minimum Variance Fund has historically returned about -22.6% annualised, versus roughly 25.1% when the market is rising. Its deepest fall on record is -14.01%. Right now it sits about 8.11% below its all-time high (last hit 2026-01-06). The real question isn't the average year - it's whether you could hold on through the worst one.
How ICICI Prudential Equity Minimum Variance Fund ranks in its category
Percentile versus its ~946 category peers - 100th is best-in-class, 50th is average. This is the fairest apples-to-apples read.
Consistency (rolling returns)
Rolling-return data isn't available for this fund yet.
What ICICI Prudential Equity Minimum Variance Fund holds
Its latest monthly portfolio disclosure. This is what your money actually owns.
Top holdings
Sector allocation
The top 10 holdings make up 55.8% of the portfolio, across 36 stocks. A higher concentration means the fund's fortunes ride on fewer names.
Portfolio overlap with similar funds
ICICI Prudential Equity Minimum Variance Fund shares ICICI Prudential Transportation And Logistics Fund (6%), LIC MF Healthcare Fund (3%), HDFC Transportation and Logistics 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 Equity Minimum Variance Fund - and how good are they?
ICICI Prudential Equity Minimum Variance Fund is managed by Nitya Mishra and Aatur Shah. 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.
Nitya Mishra's full record
Nitya Mishra currently runs 6 funds, across Aggressive Hybrid Fund, Index Funds, Sectoral/ Thematic, with about ₹69,370 Cr under management. The book's average King Score is 63.2/100. Their strongest fund by King Score is ICICI Prudential Equity & Debt Fund (89/100); ICICI Prudential Equity Minimum Variance Fund ranks #6 of 6 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 NASDAQ 100 Index Fund | 96 | 72 | -4.1% | 21.0% | 30.9% | 30.0% | n/a | n/a | 1.03 | 28.1% | -30.0% |
| 3 | 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% |
| 4 | ICICI Prudential FMCG Fund | 1 | 20 | -5.7% | -4.4% | -19.4% | -3.6% | 4.4% | 8.9% | -0.74 | 14.0% | -29.6% |
| 5 | 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% |
| 6 | ICICI Prudential Equity Minimum Variance Fund (this page) | 17 | n/a | -2.0% | 1.4% | -2.9% | n/a | n/a | n/a | -0.32 | n/a | -14.0% |
Aatur Shah's full record
Aatur Shah currently runs 3 funds, across Children s Fund, Sectoral/ Thematic, Small Cap Fund, with about ₹13,281 Cr under management. The book's average King Score is 65.0/100. Their strongest fund by King Score is ICICI Prudential Children's Fund (81/100); ICICI Prudential Equity Minimum Variance Fund ranks #3 of 3 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 Children's Fund | 35 | 81 | -1.5% | 4.4% | -2.6% | 11.7% | 11.4% | 11.4% | 0.38 | 14.1% | -31.1% |
| 2 | ICICI Prudential Smallcap Fund | 18 | 49 | 2.8% | 15.4% | 1.6% | 10.4% | 14.0% | 15.9% | 0.28 | 18.0% | -45.1% |
| 3 | ICICI Prudential Equity Minimum Variance Fund (this page) | 17 | n/a | -2.0% | 1.4% | -2.9% | n/a | n/a | n/a | -0.32 | n/a | -14.0% |
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) | 0.68% |
| Exit load | ≈1% if redeemed within 1 year (typical) |
| Minimum investment | ₹5000 |
| Fund size (AUM) | ₹2,925 Cr |
| Age | 1.8 years |
| Plan / Option | Direct · Growth |
How ICICI Prudential Equity Minimum Variance Fund compares to peers
| Fund | RS | King | 3Y CAGR |
|---|---|---|---|
| HDFC Transportation and Logistics Fund | 82 | 89 | 24.1% |
| LIC MF Healthcare Fund | 91 | 87 | 21.4% |
| ICICI Prudential Transportation And Logistics Fund | 78 | 87 | 21.1% |
| ICICI Prudential Innovation Fund | 56 | 87 | 17.8% |
| HDFC Defence Fund | 87 | 83 | 36.0% |
| Kotak Manufacture in India Fund | 81 | 83 | 19.1% |
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 Equity Minimum Variance Fund review: the bottom line
Related
Frequently asked questions
Is ICICI Prudential Equity Minimum Variance Fund a good mutual fund?
That depends on your goals and risk tolerance - this is descriptive research, not advice. On the numbers, ICICI Prudential Equity Minimum Variance Fund scores RS 17/99 within its category, and its worst drawdown was -14.01%. Compare those against your needs and the peer table above.
What is the NAV of ICICI Prudential Equity Minimum Variance Fund today?
The latest NAV is ₹10.43 (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 expense ratio of ICICI Prudential Equity Minimum Variance Fund?
The Direct-plan expense ratio is 0.68% 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 Equity Minimum Variance Fund?
ICICI Prudential Equity Minimum Variance Fund is managed by Nitya Mishra; Aatur Shah.
Is ICICI Prudential Equity Minimum Variance 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 -14.01% - ₹1 lakh briefly becoming about ₹85,990. As a sectoral & thematic 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 Equity Minimum Variance Fund tax-efficient / what about capital gains?
As a sectoral & thematic 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 Equity Minimum Variance 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.