Axis Multicap Fund vs ICICI Prudential Active Momentum Fund
Direct Plan, Growth option · Data as on 30-10-2026
Axis Multicap Fund is a Multi Cap fund and ICICI Prudential Active Momentum Fund is a Thematic fund. In the year to 30-10-2026, Axis Multicap Fund (Direct) returned 3.8% and ICICI Prudential Active Momentum Fund (Direct) returned −2.8%. Axis Multicap Fund charges 0.93% a year and ICICI Prudential Active Momentum Fund 1.82% (Direct plans). Their portfolios overlap 26.2%: they hold 24 of the same securities.
ICICI Prudential Active Momentum Fund
Thematic
- 1 year return
- −2.8%
- Expense ratio
- 1.82%
- NAV
- ₹10.11
Which is better, Axis Multicap or ICICI Prudential Active Momentum? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Axis Multicap returned more over 1 year: 3.8% against −2.8%.
- Axis Multicap costs less: 0.93% a year against 1.82% (Direct plans).
- ICICI Prudential Active Momentum fell less in its worst fall since 28-07-2025: −11.7% against −13.4%.
- Axis Multicap is the larger fund: ₹11,972 Cr against ₹2,097 Cr.
- Their portfolios overlap 26.2%: 24 of the same holdings.
Past returns do not promise future returns. This page is information, not investment advice.
Key facts
From each fund's scheme summary document and AMFI
| Fact | Axis Multicap Fund | ICICI Prudential Active Momentum Fund |
|---|---|---|
| Fund house | Axis Mutual Fund | ICICI Prudential Mutual Fund |
| Category | Multi Cap | Thematic |
| AUM | ₹11,972 Cr (30-09-2026) | ₹2,097 Cr (30-09-2026) |
| NAV | ₹20.12 (Direct) | ₹10.11 (Direct) |
| Expense ratio (Direct) | 0.93% | 1.82% |
| Expense ratio (Regular) | 1.99% | 2.87% |
| Riskometer | Very High | Not available |
| Benchmark | NIFTY 500 Multicap 50:25:25 Total Return Index | Nifty 500 TRI |
| Launch date | 17-12-2021 | 25-07-2025 |
| Minimum investment | ₹100 | ₹500 |
| Lock in | None | None |
| Fund managers | Nitin Arora, Shreyash Devalkar, Hitesh Das | Manasvi Shah, Sharmila D'silva |
| Exit load | Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 365 days | Exit load of 1% if redeemed within 1 month. |
Axis Multicap vs ICICI Prudential Active Momentum: Returns Comparison
Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.
| Fund | 1M | 3M | 6M | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|---|---|---|
| Axis Multicap Fund (Direct) | −1.18% | +0.20% | +7.65% | +3.76% | +18.70% | -- | -- |
| ICICI Prudential Active Momentum Fund (Direct) | −5.78% | −6.48% | −4.89% | −2.79% | -- | -- | -- |
| Multi Cap average | −2.65% | −3.95% | +1.99% | −1.14% | +13.54% | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | -- | -- | -- |
Category average: the average of the 33 Multi Cap funds and the 235 Thematic funds, same plan type.
Axis Multicap vs ICICI Prudential Active Momentum: Year-wise Returns
| Year | Axis MulticapAxis Multicap | ICICI Prudential Active MomentumICICI Prudential Active Momentum |
|---|---|---|
| 2026to date | +5.62% | −5.51% |
| 2025 | +2.42% | -- |
| 2024 | +33.81% | -- |
| 2023 | +38.31% | -- |
| 2022 | −0.20% | -- |
Axis Multicap vs ICICI Prudential Active Momentum: Rolling Returns
Every holding period of both funds, against Nifty500 Multicap 50:25:25 TRI, the benchmark of Axis Multicap Fund
Rolling returns
Every 1-year holding period, 64 of them, one for each trading day from 28-07-2026 to 30-10-2026: the yearly return (CAGR) of each, plotted on the day it ended. One lucky or unlucky start day cannot flatter or hide a fund.
Axis Multicap Fund (Direct)
ICICI Prudential Active Momentum Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
to
Aug 2026Aug 2025
to
Aug 2026Sept 2025
to
Sept 2026Sept 2025
to
Sept 2026Oct 2025
to
Oct 2026Oct 2025
to
Oct 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Axis Multicap | 0.0 | 10.9 | 39.1 | 46.9 | 3.1 | 0.0 | 0.0 | 9.8% | 10.0% | 0.3% | 16.3% | 100% |
| ICICI Prudential Active Momentum | 9.4 | 9.4 | 43.8 | 37.5 | 0.0 | 0.0 | 0.0 | 7.8% | 8.8% | −4.2% | 13.6% | 100% |
| Nifty500 Multicap 50:25:25 TRI | 32.8 | 35.9 | 31.3 | 0.0 | 0.0 | 0.0 | 0.0 | 2.0% | 2.9% | −7.6% | 8.5% | -- |
The table shows the % of periods in each return band; a darker cell holds more of them. Lumpsum: the yearly rate (CAGR) from a period's first NAV to its last. SIP: the XIRR of the monthly instalments. The benchmark is Nifty500 Multicap 50:25:25 TRI, over the same periods. "Beat benchmark" counts the periods in which the fund did better. Every fund is measured over the days all of them have, from 28-07-2025. Past returns do not promise future returns.
Axis Multicap vs ICICI Prudential Active Momentum: SIP and Lumpsum Returns
What the same monthly or one-time investment would be worth in each fund today, from their own NAV history
Growth of an investment
₹10,000 on the first trading day of every month, from 01-07-2025 to 30-10-2026: 16 instalments, ₹1,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Axis MulticapAxis Multicap Fund (Direct) | ₹1,60,000 | ₹1,68,975 | ₹8,975 | 8.0% |
| ICICI Prudential Active MomentumICICI Prudential Active Momentum Fund (Direct) | ₹1,60,000 | ₹1,54,526 | −₹5,474 | −4.9% |
Axis MulticapAxis Multicap Fund (Direct)
ICICI Prudential Active MomentumICICI Prudential Active Momentum Fund (Direct)
Amount invested
From each plan's published NAV (Growth option), over the same days. Return a year: XIRR for a SIP, CAGR for a lumpsum, shown for a year or more. It does not include exit load, stamp duty or tax. Past returns do not promise future returns.
Axis Multicap vs ICICI Prudential Active Momentum: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Axis Multicap Fund (Direct) | ICICI Prudential Active Momentum Fund (Direct) |
|---|---|---|
| Return (CAGR) | +3.76% | −2.79% |
| Standard deviation | 15.43% | 14.02% |
| Sharpe ratio | -0.10 | -0.57 |
| Sortino ratio | -0.13 | -0.74 |
| Maximum drawdown | −13.2% (23-03-2026) | −11.7% (23-10-2026) |
| Beta | 1.00 | 0.90 |
| Alpha | +9.82% | +3.26% |
From daily NAVs, 30-10-2025 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
| Measure | Axis Multicap Fund (Direct) | ICICI Prudential Active Momentum Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.48% | +0.95% |
| Standard deviation | 13.92% | 12.85% |
| Sharpe ratio | 0.69 | -0.34 |
| Sortino ratio | 0.94 | -0.44 |
| Maximum drawdown | −18.1% (28-02-2025) | −11.7% (23-10-2026) |
| Beta | 0.89 | 0.87 |
| Alpha | +4.98% | +2.42% |
From daily NAVs, 23-12-2021 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
Drawdowns
How far below its previous high each one was on every day: the falls an investor had to sit through. 0% means it was at a new high.
Axis Multicap Fund (Direct)
ICICI Prudential Active Momentum Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Axis Multicap Fund (Direct) | −13.4% | 29-10-2025 | 23-03-2026 | 17-06-2026 | 3 months | −5.7% |
| ICICI Prudential Active Momentum Fund (Direct) | −11.7% | 25-08-2026 | 23-10-2026 | Not yet | -- | −9.9% |
| Nifty500 Multicap 50:25:25 TRI | −14.6% | 02-01-2026 | 30-03-2026 | 06-07-2026 | 3 months | −8.0% |
From daily values since 28-07-2025, the first day every fund has.
Rolling standard deviation
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 1-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Axis Multicap Fund (Direct)
ICICI Prudential Active Momentum Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
Against Nifty500 Multicap 50:25:25 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Axis Multicap Fund (Direct) | 129% | 87% | 4.76% |
| ICICI Prudential Active Momentum Fund (Direct) | 100% | 87% | 6.60% |
From month-end values since 28-07-2025. Up capture: a fund's average month when the benchmark rose, as % of the benchmark's; above 100% it gained more. Down capture: the same for months the benchmark fell; below 100% it fell less. Tracking error: how far the monthly returns strayed from the benchmark's, a year; an index fund aims near 0.
Axis Multicap vs ICICI Prudential Active Momentum: Portfolio Overlap
From each fund's latest monthly portfolio: Axis Multicap Fund, September 2026; ICICI Prudential Active Momentum Fund, September 2026
Holdings in common
- Overlap
- 26.2%
- Held by both
- 24
- Only in Axis Multicap
- 84
- Only in ICICI Prudential Active Momentum
- 22
| Security | % of Axis Multicap | % of ICICI Prudential Active Momentum |
|---|---|---|
| Eternal Limited | 2.41% | 2.62% |
| Apar Industries Limited | 2.03% | 2.39% |
| Multi Commodity Exchange of India Limited | 1.97% | 2.01% |
| TD Power Systems Limited | 1.92% | 1.54% |
| Axis Bank Limited | 1.45% | 3.00% |
| Mahindra & Mahindra Limited | 1.37% | 2.99% |
| Larsen & Toubro Limited | 1.36% | 1.95% |
| Bajaj Finance Limited | 1.25% | 2.51% |
| Radico Khaitan Limited | 1.22% | 2.52% |
| Gland Pharma Limited | 1.13% | 1.86% |
| BSE Limited | 1.04% | 1.91% |
| Samvardhana Motherson International Limited | 1.00% | 3.76% |
| TVS Motor Company Limited | 0.97% | 1.98% |
| PNB Housing Finance Limited | 0.97% | 2.41% |
| Hyundai Motor India Ltd | 0.89% | 2.41% |
| FSN E-Commerce Ventures Limited | 0.87% | 2.45% |
| Lenskart Solutions Limited | 0.77% | 1.83% |
| Titan Company Limited | 0.74% | 2.92% |
| Apollo Hospitals Enterprise Limited | 0.71% | 2.53% |
| Bharat Electronics Limited | 0.66% | 2.18% |
| CG Power and Industrial Solutions Limited | 0.65% | 2.00% |
| Cummins India Limited | 0.55% | 2.33% |
| Kirloskar Oil Engines Limited | 0.52% | 2.37% |
| Bharat Forge Limited | 0.13% | 1.79% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 26.2% means 26.2% of each fund's money sits in positions the other also holds. Matched by ISIN. Cash and hedged positions are left out.
Largest holdings only in Axis Multicap Fund
| Security | % of fund |
|---|---|
| ICICI Bank Limited | 3.25% |
| HDFC Bank Limited | 2.72% |
| Sona BLW Precision Forgings Limited | 2.53% |
| Welspun Corp Limited | 2.35% |
| Shriram Finance Limited | 1.91% |
Largest holdings only in ICICI Prudential Active Momentum Fund
| Security | % of fund |
|---|---|
| SPR Auto Technologies Ltd. | 2.85% |
| Coal India Ltd. | 2.83% |
| Nippon Life India Asset Management Ltd | 2.55% |
| Tata Steel Ltd. | 2.48% |
| Finolex Cables Ltd. | 2.04% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Axis Multicap | ICICI Prudential Active Momentum |
|---|---|---|
| Equity | 95.4% | 93.7% |
| Debt | 0.0% | 0.0% |
| Cash and others | 4.6% | 6.3% |
Market cap of stocks
| Market cap | Axis Multicap | ICICI Prudential Active Momentum |
|---|---|---|
| Large Cap | 39.1% | 44.2% |
| Mid Cap | 23.8% | 23.9% |
| Small Cap | 28.5% | 22.1% |
| Not on AMFI's list | 3.9% | 3.6% |
Share of the whole fund. Groups follow AMFI's latest list: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.
Largest sectors
| Sector | Axis Multicap | ICICI Prudential Active Momentum |
|---|---|---|
| Banks | 15.2% | 4.7% |
| Industrial Products | 3.8% | 10.6% |
| Auto Components | 10.0% | 9.4% |
| Electrical Equipment | 9.8% | 8.8% |
| Retailing | 5.3% | 7.9% |
| Pharmaceuticals & Biotechnology | 7.8% | 1.9% |
| Automobiles | 5.0% | 7.4% |
| Finance | 4.9% | 6.6% |
The six largest sectors of each fund's stocks, % of the fund.
Axis Multicap vs ICICI Prudential Active Momentum: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Axis Multicap Fund | ICICI Prudential Active Momentum Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.93% | 1.82% |
| Base expense ratio (Direct) | 0.59% | 0.83% |
| Total expense ratio (Regular) | 1.99% | 2.87% |
| Base expense ratio (Regular) | 1.48% | 1.76% |
The expense ratio comes out of the fund's assets every day, so every return on this page is already after it. Base expense ratio: the fund house's own fee. The total adds brokerage, transaction costs, and levies with GST.
More comparisons
Each fund against the others of its category
Compare Axis Multicap with
Compare ICICI Prudential Active Momentum with
- ICICI Prudential Active Momentum vs Nippon India Taiwan Equity
- ICICI Prudential Active Momentum vs HDFC Defence
- ICICI Prudential Active Momentum vs HDFC Pharma and Healthcare
- ICICI Prudential Active Momentum vs SBI Healthcare Opportunities
- ICICI Prudential Active Momentum vs Aditya Birla Sun Life International Equity
Axis Multicap Fund vs ICICI Prudential Active Momentum Fund: Frequently Asked Questions
What is the difference between Axis Multicap Fund and ICICI Prudential Active Momentum Fund?
Axis Multicap Fund is a Multi Cap fund, ICICI Prudential Active Momentum Fund is a Thematic fund, run by Axis Mutual Fund and ICICI Prudential Mutual Fund. Their portfolios overlap 26.2%. Axis Multicap Fund charges 0.93% a year and ICICI Prudential Active Momentum Fund 1.82%.
Which has given higher returns, Axis Multicap Fund or ICICI Prudential Active Momentum Fund?
Over 1 year: Axis Multicap Fund +3.76%, ICICI Prudential Active Momentum Fund −2.79%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Axis Multicap Fund or ICICI Prudential Active Momentum Fund?
Axis Multicap Fund charges less: 0.93% a year against 1.82%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Axis Multicap Fund and ICICI Prudential Active Momentum Fund overlap?
26.2%. They hold 24 of the same securities, the largest shared ones being ETERNAL, APARINDS, MCX. From each fund's latest monthly portfolio.
Can I invest in both Axis Multicap Fund and ICICI Prudential Active Momentum Fund?
Yes. 26.2% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Axis Multicap Fund and ICICI Prudential Active Momentum Fund?
Axis Multicap Fund: Nitin Arora, Shreyash Devalkar, Hitesh Das. ICICI Prudential Active Momentum Fund: Manasvi Shah, Sharmila D'silva.
Sources: NAV and expense ratio from AMFI. Holdings from each fund house's monthly portfolio statement. Fund facts from each scheme summary document.
This page is information, not investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Past returns do not promise future returns. Figures come from AMFI, NSE, BSE and each fund house's own documents.