DSP Money Market Fund vs ICICI Prudential Money Market Fund
Direct Plan, Growth option · Data as on 30-10-2026
DSP Money Market Fund and ICICI Prudential Money Market Fund are both Money Market funds. In the 3 years to 30-10-2026, DSP Money Market Fund (Direct) returned 7.2% a year and ICICI Prudential Money Market Fund (Direct) returned 7.3% a year. DSP Money Market Fund charges 0.18% a year and ICICI Prudential Money Market Fund 0.21% (Direct plans). Their portfolios overlap 22.5%: they hold 36 of the same securities.
DSP Money Market Fund
Money Market
- 3 year return
- 7.2%
- Expense ratio
- 0.18%
- NAV
- ₹58.98
ICICI Prudential Money Market Fund
Money Market
- 3 year return
- 7.3%
- Expense ratio
- 0.21%
- NAV
- ₹417.79
Which is better, DSP Money Market or ICICI Prudential Money Market? 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 Money Market returned more over 5 years: 6.7% a year against 6.5%.
- ICICI Prudential Money Market returned more over 3 years: 7.3% a year against 7.2%.
- DSP Money Market costs less: 0.18% a year against 0.21% (Direct plans).
- DSP Money Market swung less over 3 years: a standard deviation of 0.4% a year against 0.4%.
- ICICI Prudential Money Market fell less in its worst fall since 02-01-2013: −1.2% against −1.7%.
- ICICI Prudential Money Market is the larger fund: ₹31,010 Cr against ₹8,072 Cr.
- Their portfolios overlap 22.5%: 36 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 | DSP Money Market Fund | ICICI Prudential Money Market Fund |
|---|---|---|
| Fund house | DSP Mutual Fund | ICICI Prudential Mutual Fund |
| Category | Money Market | Money Market |
| AUM | ₹8,072 Cr (30-09-2026) | ₹31,010 Cr (30-09-2026) |
| NAV | ₹58.98 (Direct) | ₹417.79 (Direct) |
| Expense ratio (Direct) | 0.18% | 0.21% |
| Expense ratio (Regular) | 0.40% | Not available |
| Riskometer | Low to Moderate | Not available |
| Benchmark | CRISIL Money Market A-I Index | NIFTY Money Market Index A-I |
| Launch date | 30-09-1999 | 08-03-2006 |
| Minimum investment | ₹100 | ₹500 |
| Lock in | None | None |
| Fund managers | Karan Mundhra, Shalini Vasanta | Manish Banthia, Nikhil Kabra |
| Exit load | Nil | Nil |
DSP Money Market vs ICICI Prudential Money Market: 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 |
|---|---|---|---|---|---|---|---|
| DSP Money Market Fund (Direct) | +0.30% | +1.46% | +3.30% | +6.35% | +7.15% | +6.51% | +6.43% |
| ICICI Prudential Money Market Fund (Direct) | +0.33% | +1.50% | +3.30% | +6.33% | +7.29% | +6.73% | +6.68% |
| Money Market average | +0.33% | +1.49% | +3.29% | +6.35% | +7.24% | +6.68% | +6.60% |
Category average: the average of the 27 Money Market funds, same plan type.
DSP Money Market vs ICICI Prudential Money Market: Year-wise Returns
| Year | DSPDSP Money Market | ICICI PrudentialICICI Prudential Money Market |
|---|---|---|
| 2026to date | +5.27% | +5.25% |
| 2025 | +7.27% | +7.56% |
| 2024 | +7.63% | +7.84% |
| 2023 | +7.43% | +7.47% |
| 2022 | +4.24% | +4.85% |
| 2021 | +3.88% | +3.82% |
DSP Money Market vs ICICI Prudential Money Market: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 2,627 of them, one for each trading day from 04-01-2016 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.
DSP Money Market Fund (Direct)
ICICI Prudential Money Market Fund (Direct)
to
Nov 2016Sept 2015
to
Sept 2018Jul 2017
to
Jul 2020May 2019
to
May 2022Mar 2021
to
Mar 2024Dec 2022
to
Dec 2025
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DSP Money Market | 0.0 | 13.1 | 86.9 | 0.0 | 0.0 | 0.0 | 0.0 | 6.7% | 6.9% | 4.6% | 8.9% |
| ICICI Prudential Money Market | 0.0 | 4.1 | 95.9 | 0.0 | 0.0 | 0.0 | 0.0 | 7.1% | 7.4% | 4.9% | 8.9% |
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. Every fund is measured over the days all of them have, from 02-01-2013. Past returns do not promise future returns.
DSP Money Market vs ICICI Prudential Money Market: 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 02-01-2013 to 30-10-2026: 166 instalments, ₹16,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| DSP Money MarketDSP Money Market Fund (Direct) | ₹16,60,000 | ₹26,68,526 | ₹10,08,526 | 6.6% |
| ICICI Prudential Money MarketICICI Prudential Money Market Fund (Direct) | ₹16,60,000 | ₹27,20,057 | ₹10,60,057 | 6.8% |
DSP Money MarketDSP Money Market Fund (Direct)
ICICI Prudential Money MarketICICI Prudential Money Market 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.
DSP Money Market vs ICICI Prudential Money Market: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | DSP Money Market Fund (Direct) | ICICI Prudential Money Market Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.35% | +6.33% |
| Standard deviation | 0.54% | 0.53% |
| Sharpe ratio | 2.04 | 2.06 |
| Sortino ratio | 3.29 | 3.28 |
| Maximum drawdown | −0.2% (22-05-2026) | −0.2% (22-05-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 | DSP Money Market Fund (Direct) | ICICI Prudential Money Market Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.15% | +7.29% |
| Standard deviation | 0.42% | 0.43% |
| Sharpe ratio | 2.69 | 2.94 |
| Sortino ratio | 4.84 | 5.48 |
| Maximum drawdown | −0.2% (22-05-2026) | −0.2% (22-05-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 | DSP Money Market Fund (Direct) | ICICI Prudential Money Market Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.51% | +6.73% |
| Standard deviation | 0.44% | 0.40% |
| Sharpe ratio | 1.62 | 2.31 |
| Sortino ratio | 2.42 | 4.12 |
| Maximum drawdown | −0.6% (13-05-2022) | −0.2% (06-05-2022) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 29-10-2021 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.
| Measure | DSP Money Market Fund (Direct) | ICICI Prudential Money Market Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.98% | +7.24% |
| Standard deviation | 0.79% | 0.49% |
| Sharpe ratio | 1.18 | 2.41 |
| Sortino ratio | 2.45 | 4.98 |
| Maximum drawdown | −1.7% (24-03-2020) | −1.2% (24-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 02-01-2013 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.
DSP Money Market Fund (Direct)
ICICI Prudential Money Market Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| DSP Money Market Fund (Direct) | −1.7% | 11-03-2020 | 24-03-2020 | 30-03-2020 | 6 days | 0.0% |
| ICICI Prudential Money Market Fund (Direct) | −1.2% | 11-03-2020 | 24-03-2020 | 27-03-2020 | 3 days | 0.0% |
From daily values since 02-01-2013, 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.
DSP Money Market Fund (Direct)
ICICI Prudential Money Market Fund (Direct)
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.
DSP Money Market Fund (Direct)
ICICI Prudential Money Market Fund (Direct)
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 5-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
DSP Money Market Fund (Direct)
ICICI Prudential Money Market Fund (Direct)
DSP Money Market vs ICICI Prudential Money Market: Portfolio Overlap
From each fund's latest monthly portfolio: DSP Money Market Fund, September 2026; ICICI Prudential Money Market Fund, September 2026
Holdings in common
- Overlap
- 22.5%
- Held by both
- 36
- Only in DSP Money Market
- 77
- Only in ICICI Prudential Money Market
- 92
| Security | % of DSP Money Market | % of ICICI Prudential Money Market |
|---|---|---|
| Panatone Finvest Limited | 2.73% | 2.53% |
| Small Industries Development Bank of India | 1.81% | 2.28% |
| National Bank For Agriculture & Rural Development | 1.51% | 1.41% |
| National Bank For Agriculture & Rural Development | 1.50% | 1.25% |
| Tata Capital Limited | 1.20% | 1.25% |
| National Bank for Financing Infrastructure and Development | 1.20% | 1.10% |
| HDFC Bank Limited | 2.40% | 1.02% |
| Bank of Baroda | 0.91% | 1.10% |
| Small Industries Development Bank of India | 2.33% | 0.83% |
| Punjab National Bank | 1.03% | 0.79% |
| Small Industries Development Bank of India | 1.20% | 0.71% |
| National Bank For Agriculture & Rural Development | 2.10% | 0.63% |
| National Bank For Agriculture & Rural Development | 0.61% | 0.87% |
| HDFC Bank Limited | 0.60% | 1.33% |
| Axis Securities Limited | 0.60% | 0.94% |
| Kotak Mahindra Bank Limited | 0.60% | 0.94% |
| National Bank For Agriculture & Rural Development | 0.60% | 0.79% |
| Small Industries Development Bank of India | 3.02% | 0.47% |
| Axis Securities Limited | 0.60% | 0.47% |
| Indian Bank | 0.89% | 0.46% |
| LIC Housing Finance Limited | 1.21% | 0.39% |
| Bank of Baroda | 1.21% | 0.32% |
| Axis Bank Limited | 0.60% | 0.31% |
| HDFC Bank Limited | 0.30% | 1.02% |
| Cholamandalam Investment and Finance Co Limited | 0.30% | 0.32% |
| Punjab National Bank | 0.30% | 1.58% |
| Punjab National Bank | 0.30% | 1.73% |
| National Bank For Agriculture & Rural Development | 0.30% | 0.63% |
| Canara Bank | 0.30% | 1.59% |
| SBI Funds Management Pvt Limited/Fund Parent | 0.30% | 0.30% |
| Small Industries Development Bank of India | 0.30% | 0.24% |
| Punjab National Bank | 0.60% | 0.16% |
| Canara Bank | 1.50% | 0.16% |
| 364 DAYS T-BILL 03122026 | 2.21% | 0.10% |
| Canara Bank | 0.91% | 0.08% |
| 7.07% Tamil Nadu SDL 14122026 | 0.06% | 0.24% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 22.5% means 22.5% 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 DSP Money Market Fund
| Security | % of fund |
|---|---|
| Punjab National Bank | 3.01% |
| Export-Import Bank Of India | 2.41% |
| Canara Bank | 2.11% |
| Kotak Mahindra Bank Limited | 1.81% |
| TATA Projects Limited | 1.81% |
Largest holdings only in ICICI Prudential Money Market Fund
| Security | % of fund |
|---|---|
| 182 Days Treasury Bills | 3.98% |
| Axis Bank Ltd. | 3.96% |
| HDFC Bank Ltd. | 3.08% |
| Bank Of Baroda | 3.00% |
| Small Industries Development Bank Of India. | 2.69% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | DSP Money Market | ICICI Prudential Money Market |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 102.9% | 105.9% |
| Cash and others | -2.9% | -5.9% |
DSP Money Market vs ICICI Prudential Money Market: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | DSP Money Market Fund | ICICI Prudential Money Market Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.18% | 0.21% |
| Base expense ratio (Direct) | 0.15% | 0.18% |
| Total expense ratio (Regular) | 0.40% | Not available |
| Base expense ratio (Regular) | 0.34% | 0.28% |
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 DSP Money Market with
Compare ICICI Prudential Money Market with
DSP Money Market Fund vs ICICI Prudential Money Market Fund: Frequently Asked Questions
What is the difference between DSP Money Market Fund and ICICI Prudential Money Market Fund?
Both are Money Market funds, run by DSP Mutual Fund and ICICI Prudential Mutual Fund. Their portfolios overlap 22.5%. DSP Money Market Fund charges 0.18% a year and ICICI Prudential Money Market Fund 0.21%.
Which has given higher returns, DSP Money Market Fund or ICICI Prudential Money Market Fund?
Over 1 year: DSP Money Market Fund +6.35%, ICICI Prudential Money Market Fund +6.33%. Over 3 years: DSP Money Market Fund +7.15% a year, ICICI Prudential Money Market Fund +7.29% a year. Over 5 years: DSP Money Market Fund +6.51% a year, ICICI Prudential Money Market Fund +6.73% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, DSP Money Market Fund or ICICI Prudential Money Market Fund?
DSP Money Market Fund charges less: 0.18% a year against 0.21%. These are the Direct plans' total expense ratios reported to AMFI.
How much do DSP Money Market Fund and ICICI Prudential Money Market Fund overlap?
22.5%. They hold 36 of the same securities, the largest shared ones being Panatone Finvest Limited, Small Industries Development Bank of India, National Bank For Agriculture & Rural Development. From each fund's latest monthly portfolio.
Which is better for SIP, DSP Money Market Fund or ICICI Prudential Money Market Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,28,184 in DSP Money Market Fund (XIRR 6.9% a year) and ₹7,30,979 in ICICI Prudential Money Market Fund (XIRR 7.1% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both DSP Money Market Fund and ICICI Prudential Money Market Fund?
Yes. 22.5% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages DSP Money Market Fund and ICICI Prudential Money Market Fund?
DSP Money Market Fund: Karan Mundhra, Shalini Vasanta. ICICI Prudential Money Market Fund: Manish Banthia, Nikhil Kabra.
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.