Axis Nifty 50 Index Fund vs ICICI Prudential Equity Savings Fund
Direct Plan, Growth option · Data as on 30-10-2026
Axis Nifty 50 Index Fund is an Index fund and ICICI Prudential Equity Savings Fund is an Equity Savings fund. In the 3 years to 30-10-2026, Axis Nifty 50 Index Fund (Direct) returned 7.4% a year and ICICI Prudential Equity Savings Fund (Direct) returned 6.9% a year. Axis Nifty 50 Index Fund charges 0.17% a year and ICICI Prudential Equity Savings Fund 1.12% (Direct plans). Their portfolios overlap 53.0%: they hold 41 of the same securities.
Axis Nifty 50 Index Fund
Index
- 3 year return
- 7.4%
- Expense ratio
- 0.17%
- NAV
- ₹14.03
ICICI Prudential Equity Savings Fund
Equity Savings
- 3 year return
- 6.9%
- Expense ratio
- 1.12%
- NAV
- ₹25.22
Which is better, Axis Nifty 50 Index or ICICI Prudential Equity Savings? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Axis Nifty 50 Index returned more over 3 years: 7.4% a year against 6.9%.
- ICICI Prudential Equity Savings returned more over 1 year: 2.0% against −10.1%.
- Axis Nifty 50 Index costs less: 0.17% a year against 1.12% (Direct plans).
- ICICI Prudential Equity Savings swung less over 3 years: a standard deviation of 2.5% a year against 13.2%.
- ICICI Prudential Equity Savings fell less in its worst fall since 08-12-2021: −3.1% against −15.8%.
- Axis Nifty 50 Index holds more in large companies: 98.7% of the fund in large caps against 69.1%.
- ICICI Prudential Equity Savings is the larger fund: ₹14,905 Cr against ₹993 Cr.
- Their portfolios overlap 53.0%: 41 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 Nifty 50 Index Fund | ICICI Prudential Equity Savings Fund |
|---|---|---|
| Fund house | Axis Mutual Fund | ICICI Prudential Mutual Fund |
| Category | Index | Equity Savings |
| AUM | ₹993 Cr (30-09-2026) | ₹14,905 Cr (30-09-2026) |
| NAV | ₹14.03 (Direct) | ₹25.22 (Direct) |
| Expense ratio (Direct) | 0.17% | 1.12% |
| Expense ratio (Regular) | 0.48% | 1.59% |
| Riskometer | Very High | Not available |
| Benchmark | Nifty 50 TRI | Nifty Equity Savings TRI |
| Launch date | 03-12-2021 | 05-12-2014 |
| Minimum investment | ₹100 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Nandik Malik, Rohit Gautam | Dharmesh Kakkad, Archana Nair, Manish Banthia, Ritesh Lunawat, Sri Sharma, Ajaykumar Solanki |
| Exit load | Nil | Exit load for units in excess of 10% of the investment,0.25% will be charged for redemption within 7 days |
Axis Nifty 50 Index vs ICICI Prudential Equity Savings: 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 Nifty 50 Index Fund (Direct) | +1.94% | −5.04% | −3.20% | −10.11% | +7.42% | -- | -- |
| ICICI Prudential Equity Savings Fund (Direct) | +0.76% | +0.28% | +2.02% | +1.98% | +6.93% | +7.37% | +7.85% |
| Equity Savings average | −0.02% | −0.68% | +1.71% | +2.12% | +8.55% | +7.55% | +8.43% |
Category average: the average of the 23 Equity Savings funds, same plan type.
Axis Nifty 50 Index vs ICICI Prudential Equity Savings: Year-wise Returns
| Year | Axis Nifty 50 IndexAxis Nifty 50 Index | ICICI Prudential Equity SavingsICICI Prudential Equity Savings |
|---|---|---|
| 2026to date | −10.99% | +0.44% |
| 2025 | +11.70% | +8.89% |
| 2024 | +9.82% | +8.98% |
| 2023 | +21.11% | +10.44% |
| 2022 | +5.36% | +7.70% |
| 2021 | -- | +10.22% |
Axis Nifty 50 Index vs ICICI Prudential Equity Savings: Rolling Returns
Every holding period of both funds, against Nifty 50 TRI, the benchmark of Axis Nifty 50 Index Fund
Rolling returns
Every 3-year holding period, 473 of them, one for each trading day from 09-12-2024 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 Nifty 50 Index Fund (Direct)
ICICI Prudential Equity Savings Fund (Direct)
Nifty 50 TRI
to
Feb 2025May 2022
to
May 2025Sept 2022
to
Sept 2025Jan 2023
to
Jan 2026May 2023
to
May 2026Sept 2023
to
Sept 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 Nifty 50 Index | 0.0 | 0.0 | 25.8 | 61.3 | 12.9 | 0.0 | 0.0 | 12.1% | 12.7% | 5.2% | 18.8% | 0% |
| ICICI Prudential Equity Savings | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 8.7% | 8.9% | 6.5% | 10.0% | 5% |
| Nifty 50 TRI | 0.0 | 0.0 | 24.3 | 61.3 | 14.4 | 0.0 | 0.0 | 12.3% | 12.9% | 5.4% | 19.1% | -- |
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 Nifty 50 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 08-12-2021. Past returns do not promise future returns.
Axis Nifty 50 Index vs ICICI Prudential Equity Savings: 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 08-12-2021 to 30-10-2026: 59 instalments, ₹5,90,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Axis Nifty 50 IndexAxis Nifty 50 Index Fund (Direct) | ₹5,90,000 | ₹6,66,348 | ₹76,348 | 4.9% |
| ICICI Prudential Equity SavingsICICI Prudential Equity Savings Fund (Direct) | ₹5,90,000 | ₹6,95,314 | ₹1,05,314 | 6.6% |
Axis Nifty 50 IndexAxis Nifty 50 Index Fund (Direct)
ICICI Prudential Equity SavingsICICI Prudential Equity Savings 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 Nifty 50 Index vs ICICI Prudential Equity Savings: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Axis Nifty 50 Index Fund (Direct) | ICICI Prudential Equity Savings Fund (Direct) |
|---|---|---|
| Return (CAGR) | −10.11% | +1.98% |
| Standard deviation | 13.59% | 3.01% |
| Sharpe ratio | -1.13 | -1.08 |
| Sortino ratio | -1.51 | -1.43 |
| Maximum drawdown | −15.1% (30-03-2026) | −3.1% (30-03-2026) |
| Beta | 1.00 | -- |
| Alpha | −0.15% | -- |
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 Nifty 50 Index Fund (Direct) | ICICI Prudential Equity Savings Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.42% | +6.93% |
| Standard deviation | 13.16% | 2.47% |
| Sharpe ratio | 0.11 | 0.37 |
| Sortino ratio | 0.15 | 0.51 |
| Maximum drawdown | −15.4% (04-03-2025) | −3.1% (30-03-2026) |
| Beta | 1.00 | -- |
| Alpha | −0.20% | -- |
From daily NAVs, 30-10-2023 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 Nifty 50 Index Fund (Direct) | ICICI Prudential Equity Savings Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.87% | +8.11% |
| Standard deviation | 13.48% | 5.18% |
| Sharpe ratio | 0.08 | 0.47 |
| Sortino ratio | 0.10 | 0.62 |
| Maximum drawdown | −15.8% (17-06-2022) | −19.2% (23-03-2020) |
| Beta | 0.99 | -- |
| Alpha | −0.21% | -- |
From daily NAVs, 08-12-2021 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 Nifty 50 Index Fund (Direct)
ICICI Prudential Equity Savings Fund (Direct)
Nifty 50 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Axis Nifty 50 Index Fund (Direct) | −15.8% | 17-01-2022 | 17-06-2022 | 01-11-2022 | 5 months | −11.7% |
| ICICI Prudential Equity Savings Fund (Direct) | −3.1% | 23-12-2025 | 30-03-2026 | 29-07-2026 | 4 months | −0.5% |
| Nifty 50 TRI | −15.8% | 17-01-2022 | 17-06-2022 | 01-11-2022 | 5 months | −11.6% |
From daily values since 08-12-2021, 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 Nifty 50 Index Fund (Direct)
ICICI Prudential Equity Savings Fund (Direct)
Nifty 50 TRI
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 3-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Axis Nifty 50 Index Fund (Direct)
ICICI Prudential Equity Savings Fund (Direct)
Nifty 50 TRI
Against Nifty 50 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Axis Nifty 50 Index Fund (Direct) | 99% | 100% | 0.10% |
| ICICI Prudential Equity Savings Fund (Direct) | 32% | 0% | 11.36% |
From month-end values since 08-12-2021. 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 Nifty 50 Index vs ICICI Prudential Equity Savings: Portfolio Overlap
From each fund's latest monthly portfolio: Axis Nifty 50 Index Fund, September 2026; ICICI Prudential Equity Savings Fund, September 2026
Holdings in common
- Overlap
- 53.0%
- Held by both
- 41
- Only in Axis Nifty 50 Index
- 9
- Only in ICICI Prudential Equity Savings
- 83
| Security | % of Axis Nifty 50 Index | % of ICICI Prudential Equity Savings |
|---|---|---|
| HDFC Bank Limited | 10.39% | 8.63% |
| Reliance Industries Limited | 7.59% | 4.94% |
| Kotak Mahindra Bank Limited | 2.94% | 4.16% |
| Mahindra & Mahindra Limited | 2.52% | 3.39% |
| Bajaj Finance Limited | 2.50% | 2.65% |
| ITC Limited | 2.42% | 2.75% |
| Bharti Airtel Limited | 5.11% | 2.41% |
| ICICI Bank Limited | 9.06% | 1.90% |
| Sun Pharmaceutical Industries Limited | 1.84% | 5.48% |
| Larsen & Toubro Limited | 4.21% | 1.78% |
| Axis Bank Limited | 3.37% | 1.75% |
| Hindustan Unilever Limited | 1.59% | 2.13% |
| Tata Consultancy Services Limited | 2.00% | 1.58% |
| NTPC Limited | 1.47% | 2.30% |
| Tata Steel Limited | 1.46% | 1.64% |
| Adani Ports and Special Economic Zone Limited | 1.35% | 3.02% |
| Infosys Limited | 3.36% | 1.20% |
| UltraTech Cement Limited | 1.24% | 1.03% |
| Bajaj Finserv Limited | 0.96% | 1.29% |
| Maruti Suzuki India Limited | 1.49% | 0.79% |
| Nestle India Limited | 0.90% | 0.76% |
| Oil & Natural Gas Corporation Limited | 0.84% | 0.71% |
| Dr. Reddy's Laboratories Limited | 0.72% | 0.62% |
| Bharat Electronics Limited | 1.33% | 0.59% |
| Power Grid Corporation of India Limited | 1.13% | 0.56% |
| HDFC Life Insurance Company Limited | 0.54% | 1.76% |
| JSW Steel Limited | 1.15% | 0.54% |
| Hindalco Industries Limited | 1.30% | 0.50% |
| Cipla Limited | 0.72% | 0.49% |
| Jio Financial Services Limited | 0.68% | 0.38% |
| SBI Life Insurance Company Limited | 0.73% | 0.34% |
| Eternal Limited | 2.22% | 0.33% |
| State Bank of India | 3.79% | 0.33% |
| Eicher Motors Limited | 0.94% | 0.30% |
| Apollo Hospitals Enterprise Limited | 0.80% | 0.30% |
| Titan Company Limited | 1.81% | 0.28% |
| Grasim Industries Limited | 1.10% | 0.26% |
| BSE Limited | 1.21% | 0.05% |
| Coal India Limited | 0.97% | 0.04% |
| Shriram Finance Limited | 1.32% | 0.02% |
| Asian Paints Limited | 1.04% | 0.01% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 53.0% means 53.0% 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 Nifty 50 Index Fund
| Security | % of fund |
|---|---|
| HCL Technologies Limited | 1.24% |
| Bajaj Auto Limited | 1.13% |
| InterGlobe Aviation Limited | 1.08% |
| Adani Enterprises Limited | 0.94% |
| Tech Mahindra Limited | 0.93% |
Largest holdings only in ICICI Prudential Equity Savings Fund
| Security | % of fund |
|---|---|
| ICICI Prudential Money Market Fund - Direct Plan - Growth | 9.19% |
| Ambuja Cements Ltd. | 1.43% |
| Bajaj Finance Ltd. | 0.99% |
| Biocon Ltd. | 0.96% |
| Vodafone Idea Ltd. | 0.93% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Axis Nifty 50 Index | ICICI Prudential Equity Savings |
|---|---|---|
| Equity | 100.1% | 73.1% |
| Debt | 0.0% | 11.9% |
| Cash and others | -0.1% | 15.0% |
Market cap of stocks
| Market cap | Axis Nifty 50 Index | ICICI Prudential Equity Savings |
|---|---|---|
| Large Cap | 98.7% | 69.1% |
| Mid Cap | 1.4% | 2.7% |
| Small Cap | 0.0% | 1.4% |
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 Nifty 50 Index | ICICI Prudential Equity Savings |
|---|---|---|
| Banks | 29.6% | 18.3% |
| Pharmaceuticals & Biotechnology | 3.3% | 8.1% |
| Petroleum Products | 7.6% | 5.6% |
| IT - Software | 7.5% | 0.0% |
| Automobiles | 6.7% | 4.8% |
| Finance | 5.5% | 4.4% |
| Telecom - Services | 5.1% | 3.6% |
| Diversified Fmcg | 0.0% | 4.9% |
The six largest sectors of each fund's stocks, % of the fund.
Axis Nifty 50 Index vs ICICI Prudential Equity Savings: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Axis Nifty 50 Index Fund | ICICI Prudential Equity Savings Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.17% | 1.12% |
| Base expense ratio (Direct) | 0.09% | 0.43% |
| Total expense ratio (Regular) | 0.48% | 1.59% |
| Base expense ratio (Regular) | 0.36% | 0.83% |
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 ICICI Prudential Equity Savings with
Axis Nifty 50 Index Fund vs ICICI Prudential Equity Savings Fund: Frequently Asked Questions
What is the difference between Axis Nifty 50 Index Fund and ICICI Prudential Equity Savings Fund?
Axis Nifty 50 Index Fund is an Index fund, ICICI Prudential Equity Savings Fund is an Equity Savings fund, run by Axis Mutual Fund and ICICI Prudential Mutual Fund. Their portfolios overlap 53.0%. Axis Nifty 50 Index Fund charges 0.17% a year and ICICI Prudential Equity Savings Fund 1.12%.
Which has given higher returns, Axis Nifty 50 Index Fund or ICICI Prudential Equity Savings Fund?
Over 1 year: Axis Nifty 50 Index Fund −10.11%, ICICI Prudential Equity Savings Fund +1.98%. Over 3 years: Axis Nifty 50 Index Fund +7.42% a year, ICICI Prudential Equity Savings Fund +6.93% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Axis Nifty 50 Index Fund or ICICI Prudential Equity Savings Fund?
Axis Nifty 50 Index Fund charges less: 0.17% a year against 1.12%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Axis Nifty 50 Index Fund and ICICI Prudential Equity Savings Fund overlap?
53.0%. They hold 41 of the same securities, the largest shared ones being HDFCBANK, RELIANCE, KOTAKBANK. From each fund's latest monthly portfolio.
Which is better for SIP, Axis Nifty 50 Index Fund or ICICI Prudential Equity Savings Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹3,68,409 in Axis Nifty 50 Index Fund (XIRR -0.3% a year) and ₹4,01,026 in ICICI Prudential Equity Savings Fund (XIRR 5.2% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both Axis Nifty 50 Index Fund and ICICI Prudential Equity Savings Fund?
Yes. 53.0% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Axis Nifty 50 Index Fund and ICICI Prudential Equity Savings Fund?
Axis Nifty 50 Index Fund: Nandik Malik, Rohit Gautam. ICICI Prudential Equity Savings Fund: Dharmesh Kakkad, Archana Nair, Manish Banthia, Ritesh Lunawat, Sri Sharma, Ajaykumar Solanki.
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.