CPSE ETF vs ICICI Prudential PSU Equity Fund
Direct Plan, Growth option · Data as on 30-10-2026
CPSE ETF is a mutual fund and ICICI Prudential PSU Equity Fund is a Thematic fund. In the 3 years to 30-10-2026, CPSE ETF (Direct) returned 18.6% a year and ICICI Prudential PSU Equity Fund (Direct) returned 18.5% a year. CPSE ETF charges 0.08% a year and ICICI Prudential PSU Equity Fund 1.28% (Direct plans). Their portfolios overlap 37.6%: they hold 9 of the same securities.
ICICI Prudential PSU Equity Fund
Thematic
- 3 year return
- 18.5%
- Expense ratio
- 1.28%
- NAV
- ₹21.69
Which is better, CPSE ETF or ICICI Prudential PSU Equity? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- CPSE ETF returned more over 3 years: 18.6% a year against 18.5%.
- ICICI Prudential PSU Equity returned more over 1 year: −3.4% against −6.5%.
- CPSE ETF costs less: 0.08% a year against 1.28% (Direct plans).
- ICICI Prudential PSU Equity swung less over 3 years: a standard deviation of 18.1% a year against 21.6%.
- ICICI Prudential PSU Equity fell less in its worst fall since 13-09-2022: −23.0% against −28.0%.
- CPSE ETF holds more in large companies: 86.9% of the fund in large caps against 72.8%.
- CPSE ETF is the larger fund: ₹18,645 Cr against ₹1,755 Cr.
- Their portfolios overlap 37.6%: 9 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 | CPSE ETF | ICICI Prudential PSU Equity Fund |
|---|---|---|
| Fund house | Nippon India Mutual Fund | ICICI Prudential Mutual Fund |
| Category | Not available | Thematic |
| AUM | ₹18,645 Cr (30-09-2026) | ₹1,755 Cr (30-09-2026) |
| NAV | ₹88.53 (Direct) | ₹21.69 (Direct) |
| Expense ratio (Direct) | 0.08% | 1.28% |
| Expense ratio (Regular) | Not available | 2.33% |
| Riskometer | Not available | Not available |
| Benchmark | Not available | BSE PSU TRI |
| Launch date | Not available | 12-09-2022 |
| Minimum investment | Not available | ₹5,000 |
| Lock in | Not available | None |
| Fund managers | Not available | Antariksha Banerjee |
| Exit load | Not available | • 1% of applicable Net Asset Value - If the amount sought to be redeemed or switch out is invested for a period of up to 1 month from the date of allotment. • Nil - If the amount sought to be redeemed or switched out is invested for a period of more than 1 month from the date of allotment. |
CPSE ETF vs ICICI Prudential PSU Equity: 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 |
|---|---|---|---|---|---|---|---|
| CPSE ETF (Direct) | −2.75% | −6.25% | −18.12% | −6.49% | +18.55% | +24.55% | -- |
| ICICI Prudential PSU Equity Fund (Direct) | −2.34% | −5.49% | −8.21% | −3.39% | +18.54% | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | +13.76% | -- | -- |
Category average: the average of the 235 Thematic funds, same plan type.
CPSE ETF vs ICICI Prudential PSU Equity: Year-wise Returns
| Year | CPSE ETFCPSE ETF | ICICI Prudential PSU EquityICICI Prudential PSU Equity |
|---|---|---|
| 2026to date | −3.39% | −2.74% |
| 2025 | +7.18% | +8.46% |
| 2024 | +28.03% | +25.98% |
| 2023 | +75.62% | +55.13% |
| 2022 | +27.95% | -- |
| 2021 | +46.00% | -- |
CPSE ETF vs ICICI Prudential PSU Equity: Rolling Returns
Every holding period of both funds, against Nifty CPSE TRI, the benchmark of CPSE ETF
Rolling returns
Every 3-year holding period, 277 of them, one for each trading day from 15-09-2025 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.
CPSE ETF (Direct)
ICICI Prudential PSU Equity Fund (Direct)
Nifty CPSE TRI
to
Oct 2025Dec 2022
to
Dec 2025Mar 2023
to
Mar 2026May 2023
to
May 2026Jul 2023
to
Jul 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| CPSE ETF | 0.0 | 0.0 | 0.0 | 0.0 | 6.9 | 8.3 | 84.8 | 32.0% | 34.3% | 17.4% | 38.7% | 0% |
| ICICI Prudential PSU Equity | 0.0 | 0.0 | 0.0 | 0.0 | 8.7 | 19.9 | 71.4 | 26.7% | 27.7% | 17.8% | 32.7% | 3% |
| Nifty CPSE TRI | 0.0 | 0.0 | 0.0 | 0.0 | 6.5 | 8.3 | 85.2 | 32.2% | 34.5% | 17.5% | 39.0% | -- |
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 CPSE 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 13-09-2022. Past returns do not promise future returns.
CPSE ETF vs ICICI Prudential PSU Equity: 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 01-09-2022 to 30-10-2026: 50 instalments, ₹5,00,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| CPSE ETFCPSE ETF (Direct) | ₹5,00,000 | ₹6,64,638 | ₹1,64,638 | 13.7% |
| ICICI Prudential PSU EquityICICI Prudential PSU Equity Fund (Direct) | ₹5,00,000 | ₹6,54,029 | ₹1,54,029 | 12.9% |
CPSE ETFCPSE ETF (Direct)
ICICI Prudential PSU EquityICICI Prudential PSU Equity 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.
CPSE ETF vs ICICI Prudential PSU Equity: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | CPSE ETF (Direct) | ICICI Prudential PSU Equity Fund (Direct) |
|---|---|---|
| Return (CAGR) | −6.49% | −3.39% |
| Standard deviation | 15.21% | 13.80% |
| Sharpe ratio | -0.77 | -0.63 |
| Sortino ratio | -1.06 | -0.83 |
| Maximum drawdown | −21.1% (23-10-2026) | −11.8% (23-10-2026) |
| Beta | 1.00 | 0.83 |
| Alpha | −0.07% | +0.22% |
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 | CPSE ETF (Direct) | ICICI Prudential PSU Equity Fund (Direct) |
|---|---|---|
| Return (CAGR) | +18.55% | +18.54% |
| Standard deviation | 21.62% | 18.13% |
| Sharpe ratio | 0.58 | 0.69 |
| Sortino ratio | 0.79 | 0.92 |
| Maximum drawdown | −28.0% (28-02-2025) | −23.0% (28-02-2025) |
| Beta | 1.00 | 0.80 |
| Alpha | −0.12% | +2.09% |
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 | CPSE ETF (Direct) | ICICI Prudential PSU Equity Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.53% | +20.57% |
| Standard deviation | 21.70% | 16.48% |
| Sharpe ratio | 0.38 | 0.87 |
| Sortino ratio | 0.52 | 1.18 |
| Maximum drawdown | −54.1% (19-03-2020) | −23.0% (28-02-2025) |
| Beta | -- | 0.78 |
| Alpha | -- | +1.98% |
From daily NAVs, 07-11-2016 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.
CPSE ETF (Direct)
ICICI Prudential PSU Equity Fund (Direct)
Nifty CPSE TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| CPSE ETF (Direct) | −28.0% | 01-08-2024 | 28-02-2025 | 17-04-2026 | 14 months | −18.7% |
| ICICI Prudential PSU Equity Fund (Direct) | −23.0% | 01-08-2024 | 28-02-2025 | 10-02-2026 | 11 months | −10.2% |
| Nifty CPSE TRI | −28.0% | 01-08-2024 | 28-02-2025 | 17-04-2026 | 14 months | −18.7% |
From daily values since 13-09-2022, 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.
CPSE ETF (Direct)
ICICI Prudential PSU Equity Fund (Direct)
Nifty CPSE 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.
CPSE ETF (Direct)
ICICI Prudential PSU Equity Fund (Direct)
Nifty CPSE TRI
Against Nifty CPSE TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| CPSE ETF (Direct) | 100% | 100% | 0.10% |
| ICICI Prudential PSU Equity Fund (Direct) | 82% | 79% | 8.05% |
From month-end values since 13-09-2022. 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.
CPSE ETF vs ICICI Prudential PSU Equity: Portfolio Overlap
From each fund's latest monthly portfolio: CPSE ETF, September 2026; ICICI Prudential PSU Equity Fund, September 2026
Holdings in common
- Overlap
- 37.6%
- Held by both
- 9
- Only in CPSE ETF
- 2
- Only in ICICI Prudential PSU Equity
- 36
| Security | % of CPSE ETF | % of ICICI Prudential PSU Equity |
|---|---|---|
| NTPC Limited | 20.22% | 9.41% |
| Power Grid Corporation of India Limited | 17.83% | 7.92% |
| Bharat Electronics Limited | 20.19% | 6.29% |
| Oil & Natural Gas Corporation Limited | 13.26% | 4.94% |
| Coal India Limited | 15.39% | 3.46% |
| Oil India Limited | 3.70% | 2.34% |
| NHPC Limited | 4.15% | 2.10% |
| SJVN Limited | 0.64% | 1.33% |
| NLC India Limited | 1.44% | 0.52% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 37.6% means 37.6% 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 CPSE ETF
| Security | % of fund |
|---|---|
| Cochin Shipyard Limited | 1.92% |
| NBCC (India) Limited | 1.23% |
Largest holdings only in ICICI Prudential PSU Equity Fund
| Security | % of fund |
|---|---|
| State Bank Of India | 17.55% |
| Life Insurance Corporation of India | 5.98% |
| Indian Oil Corporation Ltd. | 4.76% |
| Bharat Petroleum Corporation Ltd. | 3.30% |
| Indian Railway Catering and Tourism Corporation Ltd. | 2.70% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | CPSE ETF | ICICI Prudential PSU Equity |
|---|---|---|
| Equity | 100.0% | 97.9% |
| Debt | 0.0% | 0.0% |
| Cash and others | 0.0% | 2.1% |
Market cap of stocks
| Market cap | CPSE ETF | ICICI Prudential PSU Equity |
|---|---|---|
| Large Cap | 86.9% | 72.8% |
| Mid Cap | 11.2% | 15.1% |
| Small Cap | 1.9% | 9.9% |
| Not on AMFI's list | 0.0% | 0.2% |
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 | CPSE ETF | ICICI Prudential PSU Equity |
|---|---|---|
| Power | 44.3% | 21.3% |
| Banks | 0.0% | 23.8% |
| Aerospace & Defense | 20.2% | 8.7% |
| Oil | 17.0% | 7.3% |
| Consumable Fuels | 15.4% | 3.5% |
| Insurance | 0.0% | 10.6% |
| Petroleum Products | 0.0% | 9.1% |
| Industrial Manufacturing | 1.9% | 0.0% |
| Construction | 1.2% | 1.1% |
The six largest sectors of each fund's stocks, % of the fund.
CPSE ETF vs ICICI Prudential PSU Equity: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | CPSE ETF | ICICI Prudential PSU Equity Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.08% | 1.28% |
| Base expense ratio (Direct) | 0.06% | 0.86% |
| Total expense ratio (Regular) | Not available | 2.33% |
| Base expense ratio (Regular) | 0.00% | 1.79% |
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 PSU Equity with
CPSE ETF vs ICICI Prudential PSU Equity Fund: Frequently Asked Questions
What is the difference between CPSE ETF and ICICI Prudential PSU Equity Fund?
CPSE ETF is a mutual fund, ICICI Prudential PSU Equity Fund is a Thematic fund, run by Nippon India Mutual Fund and ICICI Prudential Mutual Fund. Their portfolios overlap 37.6%. CPSE ETF charges 0.08% a year and ICICI Prudential PSU Equity Fund 1.28%.
Which has given higher returns, CPSE ETF or ICICI Prudential PSU Equity Fund?
Over 1 year: CPSE ETF −6.49%, ICICI Prudential PSU Equity Fund −3.39%. Over 3 years: CPSE ETF +18.55% a year, ICICI Prudential PSU Equity Fund +18.54% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, CPSE ETF or ICICI Prudential PSU Equity Fund?
CPSE ETF charges less: 0.08% a year against 1.28%. These are the Direct plans' total expense ratios reported to AMFI.
How much do CPSE ETF and ICICI Prudential PSU Equity Fund overlap?
37.6%. They hold 9 of the same securities, the largest shared ones being NTPC, POWERGRID, BEL. From each fund's latest monthly portfolio.
Which is better for SIP, CPSE ETF or ICICI Prudential PSU Equity Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹3,80,118 in CPSE ETF (XIRR 1.7% a year) and ₹3,94,221 in ICICI Prudential PSU Equity Fund (XIRR 4.1% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both CPSE ETF and ICICI Prudential PSU Equity Fund?
Yes. 37.6% of each fund's money sits in the same holdings, so some of the two investments would move together.
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.