Bandhan Multi-Factor Fund vs ICICI Prudential Nifty Alpha Low- Volatility 30 ETF
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
Bandhan Multi-Factor Fund is a Thematic fund and ICICI Prudential Nifty Alpha Low- Volatility 30 ETF is an ETF fund. In the year to 30-10-2026, Bandhan Multi-Factor Fund (Direct) returned −11.8% and ICICI Prudential Nifty Alpha Low- Volatility 30 ETF returned −7.2%. Bandhan Multi-Factor Fund charges 2.76% a year and ICICI Prudential Nifty Alpha Low- Volatility 30 ETF 0.57%. Their portfolios overlap 39.0%: they hold 13 of the same securities.
Bandhan Multi-Factor Fund
Thematic
- 1 year return
- −11.8%
- Expense ratio
- 2.76%
- NAV
- ₹8.92
ICICI Prudential Nifty Alpha Low- Volatility 30 ETF
ETF
- 1 year return
- −7.2%
- Expense ratio
- 0.57%
- NAV
- ₹25.84
Which is better, Bandhan Multi-Factor or ICICI Prudential Nifty Alpha Low- Volatility 30 ETF? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- ICICI Prudential Nifty Alpha Low- Volatility 30 ETF returned more over 1 year: −7.2% against −11.8%.
- ICICI Prudential Nifty Alpha Low- Volatility 30 ETF costs less: 0.57% a year against 2.76%.
- ICICI Prudential Nifty Alpha Low- Volatility 30 ETF fell less in its worst fall since 01-08-2025: −13.4% against −19.8%.
- ICICI Prudential Nifty Alpha Low- Volatility 30 ETF holds more in large companies: 84.3% of the fund in large caps against 63.9%.
- ICICI Prudential Nifty Alpha Low- Volatility 30 ETF is the larger fund: ₹1,470 Cr against ₹647 Cr.
- Their portfolios overlap 39.0%: 13 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 | Bandhan Multi-Factor Fund | ICICI Prudential Nifty Alpha Low- Volatility 30 ETF |
|---|---|---|
| Fund house | Bandhan Mutual Fund | ICICI Prudential Mutual Fund |
| Category | Thematic | ETF |
| AUM | ₹647 Cr (31-08-2026) | ₹1,470 Cr (30-09-2026) |
| NAV | ₹8.92 (Direct) | ₹25.84 |
| Expense ratio (Direct) | 2.76% | Not available |
| Expense ratio (Regular) | 4.26% | Not available |
| Riskometer | Very High | Not available |
| Benchmark | BSE 200 TRI | Nifty Alpha Low -Volatility 30 TRI |
| Launch date | 30-07-2025 | 12-08-2020 |
| Minimum investment | ₹1,000 | During Ongoing/Continuous Offer: On Stock Exchanges: Investors can buy/sell units of the Scheme in round lot of 1 unit and in multiples thereof. Directly with the Mutual Fund: Investors can buy or sell units of the scheme in creation unit size and its mul |
| Lock in | None | None |
| Fund managers | Rishi Sharma, Nilesh Saha, Brijesh Shah | Nishit Patel, Ajaykumar Solanki, Ashwini Bharucha, Venus Ahuja |
| Exit load | Exit load of 0.50%, if redeemed within 30 days. | Nil There will be no exit load for units sold through the secondary market on the stock exchanges where the Scheme will be listed. |
Bandhan Multi-Factor vs ICICI Prudential Nifty Alpha Low- Volatility 30 ETF: 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 |
|---|---|---|---|---|---|---|---|
| Bandhan Multi-Factor Fund (Direct) | −3.54% | −11.74% | −11.32% | −11.84% | -- | -- | -- |
| ICICI Prudential Nifty Alpha Low- Volatility 30 ETF | −1.07% | −8.66% | −2.50% | −7.22% | +8.92% | +8.35% | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | -- | -- | -- |
Category average: the average of the 235 Thematic funds, same plan type.
Bandhan Multi-Factor vs ICICI Prudential Nifty Alpha Low- Volatility 30 ETF: Year-wise Returns
| Year | Bandhan Multi-FactorBandhan Multi-Factor | ICICI Prudential Nifty Alpha Low- Volatility 30 ETFICICI Prudential Nifty Alpha Low- Volatility 30 ETF |
|---|---|---|
| 2026to date | −16.31% | −7.45% |
| 2025 | -- | −0.25% |
| 2024 | -- | +17.01% |
| 2023 | -- | +38.20% |
| 2022 | -- | −3.59% |
| 2021 | -- | +30.22% |
Bandhan Multi-Factor vs ICICI Prudential Nifty Alpha Low- Volatility 30 ETF: Rolling Returns
Every holding period of both funds, against BSE 200 TRI, the benchmark of Bandhan Multi-Factor Fund
Rolling returns
Every 1-year holding period, 60 of them, one for each trading day from 03-08-2026 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.
Bandhan Multi-Factor Fund (Direct)
ICICI Prudential Nifty Alpha Low- Volatility 30 ETF
BSE 200 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Bandhan Multi-Factor | 58.3 | 41.7 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | −3.0% | −3.4% | −12.6% | 5.0% | 5% |
| ICICI Prudential Nifty Alpha Low- Volatility 30 ETF | 53.3 | 31.7 | 15.0 | 0.0 | 0.0 | 0.0 | 0.0 | −0.8% | −0.8% | −10.1% | 7.6% | 83% |
| BSE 200 TRI | 55.0 | 43.3 | 1.7 | 0.0 | 0.0 | 0.0 | 0.0 | −1.6% | −2.1% | −9.8% | 5.6% | -- |
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 BSE 200 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 01-08-2025. Past returns do not promise future returns.
Bandhan Multi-Factor vs ICICI Prudential Nifty Alpha Low- Volatility 30 ETF: 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 01-08-2025 to 30-10-2026: 15 instalments, ₹1,50,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Bandhan Multi-FactorBandhan Multi-Factor Fund (Direct) | ₹1,50,000 | ₹1,33,541 | −₹16,459 | −16.4% |
| ICICI Prudential Nifty Alpha Low- Volatility 30 ETFICICI Prudential Nifty Alpha Low- Volatility 30 ETF | ₹1,50,000 | ₹1,43,197 | −₹6,803 | −6.8% |
Bandhan Multi-FactorBandhan Multi-Factor Fund (Direct)
ICICI Prudential Nifty Alpha Low- Volatility 30 ETFICICI Prudential Nifty Alpha Low- Volatility 30 ETF
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.
Bandhan Multi-Factor vs ICICI Prudential Nifty Alpha Low- Volatility 30 ETF: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Bandhan Multi-Factor Fund (Direct) | ICICI Prudential Nifty Alpha Low- Volatility 30 ETF |
|---|---|---|
| Return (CAGR) | −11.84% | −7.22% |
| Standard deviation | 13.87% | 13.45% |
| Sharpe ratio | -1.23 | -0.93 |
| Sortino ratio | -1.56 | -1.22 |
| Maximum drawdown | −19.8% (23-10-2026) | −13.4% (31-03-2026) |
| Beta | 0.89 | 1.00 |
| Alpha | −5.01% | −0.56% |
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 | Bandhan Multi-Factor Fund (Direct) | ICICI Prudential Nifty Alpha Low- Volatility 30 ETF |
|---|---|---|
| Return (CAGR) | −7.70% | +13.48% |
| Standard deviation | 13.07% | 13.41% |
| Sharpe ratio | -0.99 | 0.61 |
| Sortino ratio | -1.27 | 0.84 |
| Maximum drawdown | −19.8% (23-10-2026) | −25.0% (28-02-2025) |
| Beta | 0.90 | 1.00 |
| Alpha | −5.97% | −0.64% |
From daily NAVs, 01-08-2025 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.
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.
Bandhan Multi-Factor Fund (Direct)
ICICI Prudential Nifty Alpha Low- Volatility 30 ETF
BSE 200 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Bandhan Multi-Factor Fund (Direct) | −19.8% | 11-02-2026 | 23-10-2026 | Not yet | -- | −18.1% |
| ICICI Prudential Nifty Alpha Low- Volatility 30 ETF | −13.4% | 23-02-2026 | 31-03-2026 | 03-08-2026 | 4 months | −10.2% |
| BSE 200 TRI | −14.7% | 02-01-2026 | 30-03-2026 | Not yet | -- | −9.9% |
From daily values since 01-08-2025, 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.
Bandhan Multi-Factor Fund (Direct)
ICICI Prudential Nifty Alpha Low- Volatility 30 ETF
BSE 200 TRI
Against BSE 200 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Bandhan Multi-Factor Fund (Direct) | 49% | 77% | 7.80% |
| ICICI Prudential Nifty Alpha Low- Volatility 30 ETF | 97% | 104% | 5.12% |
From month-end values since 01-08-2025. 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.
Bandhan Multi-Factor vs ICICI Prudential Nifty Alpha Low- Volatility 30 ETF: Portfolio Overlap
From each fund's latest monthly portfolio: Bandhan Multi-Factor Fund, August 2026; ICICI Prudential Nifty Alpha Low- Volatility 30 ETF, September 2026
Holdings in common
- Overlap
- 39.0%
- Held by both
- 13
- Only in Bandhan Multi-Factor
- 21
- Only in ICICI Prudential Nifty Alpha Low- Volatility 30 ETF
- 17
| Security | % of Bandhan Multi-Factor | % of ICICI Prudential Nifty Alpha Low- Volatility 30 ETF |
|---|---|---|
| Bajaj Auto Limited | 3.82% | 4.01% |
| JSW Steel Limited | 3.95% | 3.62% |
| Cummins India Limited | 3.60% | 3.49% |
| Bharti Airtel Limited | 3.70% | 3.33% |
| Nestle India Limited | 3.31% | 3.72% |
| Titan Company Limited | 3.35% | 3.26% |
| Lupin Limited | 3.95% | 3.24% |
| Marico Limited | 3.15% | 3.99% |
| Coal India Limited | 3.18% | 3.05% |
| Eicher Motors Limited | 3.52% | 3.03% |
| UltraTech Cement Limited | 3.99% | 2.75% |
| Max Financial Services Limited | 1.98% | 2.19% |
| Asian Paints Limited | 0.92% | 2.72% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 39.0% means 39.0% 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 Bandhan Multi-Factor Fund
| Security | % of fund |
|---|---|
| Axis Bank Limited | 4.33% |
| Polycab India Limited | 4.09% |
| Suzlon Energy Limited | 4.07% |
| Tata Steel Limited | 4.07% |
| Power Grid Corporation of India Limited | 4.01% |
Largest holdings only in ICICI Prudential Nifty Alpha Low- Volatility 30 ETF
| Security | % of fund |
|---|---|
| Torrent Pharmaceuticals Ltd. | 4.73% |
| NTPC Ltd. | 4.11% |
| Apollo Hospitals Enterprise Ltd. | 3.93% |
| Hindalco Industries Ltd. | 3.81% |
| ICICI Bank Ltd. | 3.78% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Bandhan Multi-Factor | ICICI Prudential Nifty Alpha Low- Volatility 30 ETF |
|---|---|---|
| Equity | 98.6% | 100.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 1.4% | 0.0% |
Market cap of stocks
| Market cap | Bandhan Multi-Factor | ICICI Prudential Nifty Alpha Low- Volatility 30 ETF |
|---|---|---|
| Large Cap | 63.9% | 84.3% |
| Mid Cap | 29.9% | 15.7% |
| Small Cap | 4.7% | 0.0% |
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 | Bandhan Multi-Factor | ICICI Prudential Nifty Alpha Low- Volatility 30 ETF |
|---|---|---|
| Pharmaceuticals & Biotechnology | 4.0% | 14.4% |
| Automobiles | 11.2% | 12.8% |
| Banks | 8.9% | 10.5% |
| Industrial Products | 9.8% | 3.5% |
| Ferrous Metals | 8.0% | 3.6% |
| Food Products | 3.3% | 6.6% |
| Agricultural Food & Other Products | 0.0% | 6.5% |
| Cement & Cement Products | 4.0% | 6.4% |
| Finance | 4.9% | 0.0% |
| IT - Software | 4.8% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
Bandhan Multi-Factor vs ICICI Prudential Nifty Alpha Low- Volatility 30 ETF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Bandhan Multi-Factor Fund | ICICI Prudential Nifty Alpha Low- Volatility 30 ETF |
|---|---|---|
| Total expense ratio (Direct) | 2.76% | Not available |
| Base expense ratio (Direct) | 0.77% | 0.00% |
| Total expense ratio (Regular) | 4.26% | Not available |
| Base expense ratio (Regular) | 2.08% | 0.36% |
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
Bandhan Multi-Factor Fund vs ICICI Prudential Nifty Alpha Low- Volatility 30 ETF: Frequently Asked Questions
What is the difference between Bandhan Multi-Factor Fund and ICICI Prudential Nifty Alpha Low- Volatility 30 ETF?
Bandhan Multi-Factor Fund is a Thematic fund, ICICI Prudential Nifty Alpha Low- Volatility 30 ETF is an ETF fund, run by Bandhan Mutual Fund and ICICI Prudential Mutual Fund. Their portfolios overlap 39.0%. Bandhan Multi-Factor Fund charges 2.76% a year and ICICI Prudential Nifty Alpha Low- Volatility 30 ETF 0.57%.
Which has given higher returns, Bandhan Multi-Factor Fund or ICICI Prudential Nifty Alpha Low- Volatility 30 ETF?
Over 1 year: Bandhan Multi-Factor Fund −11.84%, ICICI Prudential Nifty Alpha Low- Volatility 30 ETF −7.22%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Bandhan Multi-Factor Fund or ICICI Prudential Nifty Alpha Low- Volatility 30 ETF?
ICICI Prudential Nifty Alpha Low- Volatility 30 ETF charges less: 0.57% a year against 2.76%. These are the total expense ratios reported to AMFI.
How much do Bandhan Multi-Factor Fund and ICICI Prudential Nifty Alpha Low- Volatility 30 ETF overlap?
39.0%. They hold 13 of the same securities, the largest shared ones being BAJAJ-AUTO, JSWSTEEL, CUMMINSIND. From each fund's latest monthly portfolio.
Can I invest in both Bandhan Multi-Factor Fund and ICICI Prudential Nifty Alpha Low- Volatility 30 ETF?
Yes. 39.0% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Bandhan Multi-Factor Fund and ICICI Prudential Nifty Alpha Low- Volatility 30 ETF?
Bandhan Multi-Factor Fund: Rishi Sharma, Nilesh Saha, Brijesh Shah. ICICI Prudential Nifty Alpha Low- Volatility 30 ETF: Nishit Patel, Ajaykumar Solanki, Ashwini Bharucha, Venus Ahuja.
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.