Groww NIFTY 200 ETF vs ICICI Prudential Multi Asset Allocation Fund
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
Groww NIFTY 200 ETF is an ETF fund and ICICI Prudential Multi Asset Allocation Fund is a Multi Asset fund. In the year to 30-10-2026, Groww NIFTY 200 ETF returned −8.2% and ICICI Prudential Multi Asset Allocation Fund (Direct) returned −3.7%. Groww NIFTY 200 ETF charges 0.43% a year and ICICI Prudential Multi Asset Allocation Fund 0.85%. Their portfolios overlap 42.0%: they hold 70 of the same securities.
ICICI Prudential Multi Asset Allocation Fund
Multi Asset
- 1 year return
- −3.7%
- Expense ratio
- 0.85%
- NAV
- ₹853.87
Which is better, Groww NIFTY 200 ETF or ICICI Prudential Multi Asset Allocation? 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 Multi Asset Allocation returned more over 1 year: −3.7% against −8.2%.
- Groww NIFTY 200 ETF costs less: 0.43% a year against 0.85%.
- ICICI Prudential Multi Asset Allocation fell less in its worst fall since 27-02-2025: −9.5% against −14.8%.
- Groww NIFTY 200 ETF holds more in large companies: 79.6% of the fund in large caps against 49.2%.
- ICICI Prudential Multi Asset Allocation is the larger fund: ₹84,108 Cr against ₹16 Cr.
- Their portfolios overlap 42.0%: 70 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 | Groww NIFTY 200 ETF | ICICI Prudential Multi Asset Allocation Fund |
|---|---|---|
| Fund house | Groww Mutual Fund | ICICI Prudential Mutual Fund |
| Category | ETF | Multi Asset |
| AUM | ₹16 Cr (30-09-2026) | ₹84,108 Cr (30-09-2026) |
| NAV | ₹10.72 | ₹853.87 (Direct) |
| Expense ratio (Direct) | Not available | 0.85% |
| Expense ratio (Regular) | Not available | 1.43% |
| Riskometer | Very High | Not available |
| Benchmark | Nifty 200 TRI | Nifty 200 TRI (65%) + Nifty Composite Debt Index (25%) + Domestic Price of Gold (6%) + Domestic Price of Silver (1%) + i |
| Launch date | 25-02-2025 | 31-10-2002 |
| Minimum investment | ₹500 | ₹500 |
| Lock in | None | None |
| Fund managers | Nikhil Satam, Aakash Chauhan, Shashi Kumar | Sankaran Naren, Manish Banthia, Gaurav Chikane, Sharmila D'silva, Antariksha Banerjee, Akhil Kakkar, Masoomi Jurmarvala |
| Exit load | Nil | Exit Load for units in excess of 30% of the investment,1% will be charged for redemption within 365 days. |
Groww NIFTY 200 ETF vs ICICI Prudential Multi Asset Allocation: 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 |
|---|---|---|---|---|---|---|---|
| Groww NIFTY 200 ETF | +0.13% | −6.00% | −3.35% | −8.21% | -- | -- | -- |
| ICICI Prudential Multi Asset Allocation Fund (Direct) | −1.72% | −5.05% | −3.78% | −3.66% | +12.92% | +13.95% | +14.80% |
| Multi Asset average | −1.71% | −3.33% | −1.78% | +2.00% | +14.20% | +12.56% | +12.92% |
Category average: the average of the 37 Multi Asset funds, same plan type.
Groww NIFTY 200 ETF vs ICICI Prudential Multi Asset Allocation: Year-wise Returns
| Year | Groww NIFTY 200 ETFGroww NIFTY 200 ETF | ICICI Prudential Multi Asset AllocationICICI Prudential Multi Asset Allocation |
|---|---|---|
| 2026to date | −8.79% | −5.73% |
| 2025 | -- | +19.46% |
| 2024 | -- | +17.08% |
| 2023 | -- | +24.98% |
| 2022 | -- | +17.61% |
| 2021 | -- | +35.54% |
Groww NIFTY 200 ETF vs ICICI Prudential Multi Asset Allocation: Rolling Returns
Every holding period of both funds, against Nifty 200 TRI, the benchmark of Groww NIFTY 200 ETF
Rolling returns
Every 1-year holding period, 164 of them, one for each trading day from 27-02-2026 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.
Groww NIFTY 200 ETF
ICICI Prudential Multi Asset Allocation Fund (Direct)
Nifty 200 TRI
to
Mar 2026Apr 2025
to
Apr 2026Jun 2025
to
Jun 2026Jul 2025
to
Jul 2026Sept 2025
to
Sept 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Groww NIFTY 200 ETF | 46.3 | 37.8 | 11.6 | 3.7 | 0.6 | 0.0 | 0.0 | 0.8% | 0.3% | −9.9% | 15.6% | 0% |
| ICICI Prudential Multi Asset Allocation | 9.7 | 12.1 | 53.9 | 20.6 | 3.6 | 0.0 | 0.0 | 7.4% | 7.6% | −4.3% | 19.3% | 100% |
| Nifty 200 TRI | 42.1 | 40.2 | 13.4 | 3.0 | 1.2 | 0.0 | 0.0 | 1.2% | 0.7% | −9.6% | 16.1% | -- |
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 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 27-02-2025. Past returns do not promise future returns.
Groww NIFTY 200 ETF vs ICICI Prudential Multi Asset Allocation: 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 27-02-2025 to 30-10-2026: 21 instalments, ₹2,10,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Groww NIFTY 200 ETFGroww NIFTY 200 ETF | ₹2,10,000 | ₹2,04,546 | −₹5,454 | −2.9% |
| ICICI Prudential Multi Asset AllocationICICI Prudential Multi Asset Allocation Fund (Direct) | ₹2,10,000 | ₹2,10,231 | ₹231 | 0.1% |
Groww NIFTY 200 ETFGroww NIFTY 200 ETF
ICICI Prudential Multi Asset AllocationICICI Prudential Multi Asset Allocation 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.
Groww NIFTY 200 ETF vs ICICI Prudential Multi Asset Allocation: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Groww NIFTY 200 ETF | ICICI Prudential Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | −8.21% | −3.66% |
| Standard deviation | 14.33% | 10.29% |
| Sharpe ratio | -0.94 | -0.86 |
| Sortino ratio | -1.24 | -1.16 |
| Maximum drawdown | −14.8% (31-03-2026) | −9.5% (23-03-2026) |
| Beta | 1.00 | -- |
| Alpha | −0.38% | -- |
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 | Groww NIFTY 200 ETF | ICICI Prudential Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +4.51% | +15.43% |
| Standard deviation | 13.84% | 11.61% |
| Sharpe ratio | -0.07 | 0.81 |
| Sortino ratio | -0.09 | 1.11 |
| Maximum drawdown | −14.8% (31-03-2026) | −30.6% (23-03-2020) |
| Beta | 1.00 | -- |
| Alpha | −0.43% | -- |
From daily NAVs, 27-02-2025 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.
Groww NIFTY 200 ETF
ICICI Prudential Multi Asset Allocation Fund (Direct)
Nifty 200 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Groww NIFTY 200 ETF | −14.8% | 02-01-2026 | 31-03-2026 | Not yet | -- | −9.7% |
| ICICI Prudential Multi Asset Allocation Fund (Direct) | −9.5% | 11-02-2026 | 23-03-2026 | Not yet | -- | −7.1% |
| Nifty 200 TRI | −14.8% | 02-01-2026 | 30-03-2026 | Not yet | -- | −9.4% |
From daily values since 27-02-2025, 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.
Groww NIFTY 200 ETF
ICICI Prudential Multi Asset Allocation Fund (Direct)
Nifty 200 TRI
Against Nifty 200 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Groww NIFTY 200 ETF | 99% | 101% | 0.06% |
| ICICI Prudential Multi Asset Allocation Fund (Direct) | 62% | 42% | 6.86% |
From month-end values since 27-02-2025. 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.
Groww NIFTY 200 ETF vs ICICI Prudential Multi Asset Allocation: Portfolio Overlap
From each fund's latest monthly portfolio: Groww NIFTY 200 ETF, September 2026; ICICI Prudential Multi Asset Allocation Fund, September 2026
Holdings in common
- Overlap
- 42.0%
- Held by both
- 70
- Only in Groww NIFTY 200 ETF
- 130
- Only in ICICI Prudential Multi Asset Allocation
- 156
| Security | % of Groww NIFTY 200 ETF | % of ICICI Prudential Multi Asset Allocation |
|---|---|---|
| HDFC Bank Limited | 6.72% | 6.07% |
| ICICI Bank Limited | 5.86% | 3.57% |
| Reliance Industries Limited | 4.91% | 3.17% |
| Axis Bank Limited | 2.18% | 2.34% |
| ITC Limited | 1.57% | 1.62% |
| Bharti Airtel Limited | 3.31% | 1.55% |
| Kotak Mahindra Bank Limited | 1.90% | 1.30% |
| Infosys Limited | 2.17% | 1.14% |
| Hindustan Unilever Limited | 1.03% | 1.51% |
| Sun Pharmaceutical Industries Limited | 1.19% | 1.01% |
| State Bank of India | 2.45% | 0.98% |
| Maruti Suzuki India Limited | 0.96% | 1.37% |
| NTPC Limited | 0.95% | 1.41% |
| Larsen & Toubro Limited | 2.72% | 0.82% |
| Mahindra & Mahindra Limited | 1.63% | 0.70% |
| Tata Steel Limited | 0.95% | 0.70% |
| InterGlobe Aviation Limited | 0.70% | 1.89% |
| Tata Consultancy Services Limited | 1.29% | 0.67% |
| Bajaj Finserv Limited | 0.62% | 2.55% |
| Asian Paints Limited | 0.67% | 0.56% |
| Tata Motors Limited | 0.55% | 0.70% |
| Oil & Natural Gas Corporation Limited | 0.54% | 0.65% |
| Bajaj Auto Limited | 0.73% | 0.51% |
| Apollo Hospitals Enterprise Limited | 0.51% | 0.50% |
| SBI Life Insurance Company Limited | 0.47% | 0.53% |
| Vedanta Aluminium Metal Limited | 0.43% | 0.45% |
| Tech Mahindra Limited | 0.60% | 0.43% |
| Coal India Limited | 0.63% | 0.41% |
| Avenue Supermarts Limited | 0.38% | 1.14% |
| Tata Motors Passenger Vehicles Limited | 0.37% | 0.57% |
| IndusInd Bank Limited | 0.37% | 1.22% |
| Hindalco Industries Limited | 0.84% | 0.36% |
| Britannia Industries Limited | 0.35% | 0.50% |
| HDFC Life Insurance Company Limited | 0.35% | 0.58% |
| Life Insurance Corporation Of India | 0.31% | 3.76% |
| Bharat Electronics Limited | 0.86% | 0.31% |
| Info Edge (India) Limited | 0.29% | 0.65% |
| Eicher Motors Limited | 0.61% | 0.28% |
| HCL Technologies Limited | 0.80% | 0.28% |
| Nestle India Limited | 0.58% | 0.27% |
| ICICI Lombard General Insurance Company | 0.24% | 0.44% |
| FSN E-Commerce Ventures Limited | 0.27% | 0.24% |
| SWIGGY LIMITED | 0.23% | 0.64% |
| Dr. Reddy's Laboratories Limited | 0.46% | 0.23% |
| Trent Limited | 0.54% | 0.22% |
| UltraTech Cement Limited | 0.80% | 0.20% |
| Pidilite Industries Limited | 0.28% | 0.20% |
| Hyundai Motor India Limited | 0.18% | 0.49% |
| Cipla Limited | 0.47% | 0.18% |
| Biocon Limited | 0.16% | 0.38% |
| Adani Port & Special Economic Zone Ltd | 0.87% | 0.15% |
| Page Industries Limited | 0.14% | 0.84% |
| Hindustan Petroleum Corporation Limited | 0.21% | 0.14% |
| Titan Company Limited | 1.17% | 0.13% |
| Oberoi Realty Limited | 0.13% | 0.43% |
| Hero MotoCorp Limited | 0.42% | 0.12% |
| Jindal Steel Limited | 0.26% | 0.12% |
| PI Industries Limited | 0.11% | 0.27% |
| Dabur India Limited | 0.14% | 0.11% |
| Jubilant Foodworks Limited | 0.11% | 0.41% |
| Bharat Petroleum Corporation Limited | 0.38% | 0.11% |
| SBI Cards and Payment Services Limited | 0.11% | 1.44% |
| LIC Housing Finance Limited | 0.10% | 0.21% |
| Oil India Limited | 0.15% | 0.09% |
| Indian Railway Catering & Tourism Corp | 0.09% | 0.24% |
| Ambuja Cements Limited | 0.14% | 0.07% |
| TVS Motor Company Limited | 0.60% | 0.06% |
| Cholamandalam Invest & Finance Co Ltd | 0.43% | 0.05% |
| Bajaj Finance Limited | 1.62% | 0.02% |
| JSW Steel Limited | 0.75% | 0.02% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 42.0% means 42.0% 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 Groww NIFTY 200 ETF
| Security | % of fund |
|---|---|
| Eternal Limited | 1.43% |
| Shriram Finance Limited | 0.85% |
| BSE Ltd | 0.78% |
| Power Grid Corporation of India Limited | 0.73% |
| Divi's Laboratories Limited | 0.73% |
Largest holdings only in ICICI Prudential Multi Asset Allocation Fund
| Security | % of fund |
|---|---|
| ICICI Prudential Gold ETF | 10.07% |
| Government Securities | 2.11% |
| HDFC Bank Ltd. | 1.33% |
| Alkem Laboratories Ltd. | 0.95% |
| Shree Cements Ltd. | 0.94% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Groww NIFTY 200 ETF | ICICI Prudential Multi Asset Allocation |
|---|---|---|
| Equity | 99.9% | 67.3% |
| Debt | 0.0% | 15.0% |
| Cash and others | 0.1% | 17.7% |
Market cap of stocks
| Market cap | Groww NIFTY 200 ETF | ICICI Prudential Multi Asset Allocation |
|---|---|---|
| Large Cap | 79.6% | 49.2% |
| Mid Cap | 19.9% | 12.1% |
| Small Cap | 0.3% | 5.4% |
| Foreign stocks | 0.0% | 0.2% |
| Not on AMFI's list | 0.0% | 0.4% |
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 | Groww NIFTY 200 ETF | ICICI Prudential Multi Asset Allocation |
|---|---|---|
| Banks | 22.2% | 15.5% |
| Insurance | 1.6% | 6.5% |
| IT - Software | 6.4% | 0.0% |
| Finance | 5.9% | 4.5% |
| Petroleum Products | 5.8% | 3.4% |
| Automobiles | 5.5% | 4.1% |
| Pharmaceuticals & Biotechnology | 5.1% | 2.8% |
| Retailing | 3.8% | 3.3% |
The six largest sectors of each fund's stocks, % of the fund.
Groww NIFTY 200 ETF vs ICICI Prudential Multi Asset Allocation: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Groww NIFTY 200 ETF | ICICI Prudential Multi Asset Allocation Fund |
|---|---|---|
| Total expense ratio (Direct) | Not available | 0.85% |
| Base expense ratio (Direct) | 0.35% | 0.57% |
| Total expense ratio (Regular) | Not available | 1.43% |
| Base expense ratio (Regular) | 0.00% | 1.07% |
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
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Groww NIFTY 200 ETF vs ICICI Prudential Multi Asset Allocation Fund: Frequently Asked Questions
What is the difference between Groww NIFTY 200 ETF and ICICI Prudential Multi Asset Allocation Fund?
Groww NIFTY 200 ETF is an ETF fund, ICICI Prudential Multi Asset Allocation Fund is a Multi Asset fund, run by Groww Mutual Fund and ICICI Prudential Mutual Fund. Their portfolios overlap 42.0%. Groww NIFTY 200 ETF charges 0.43% a year and ICICI Prudential Multi Asset Allocation Fund 0.85%.
Which has given higher returns, Groww NIFTY 200 ETF or ICICI Prudential Multi Asset Allocation Fund?
Over 1 year: Groww NIFTY 200 ETF −8.21%, ICICI Prudential Multi Asset Allocation Fund −3.66%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Groww NIFTY 200 ETF or ICICI Prudential Multi Asset Allocation Fund?
Groww NIFTY 200 ETF charges less: 0.43% a year against 0.85%. These are the total expense ratios reported to AMFI.
How much do Groww NIFTY 200 ETF and ICICI Prudential Multi Asset Allocation Fund overlap?
42.0%. They hold 70 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, RELIANCE. From each fund's latest monthly portfolio.
Can I invest in both Groww NIFTY 200 ETF and ICICI Prudential Multi Asset Allocation Fund?
Yes. 42.0% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Groww NIFTY 200 ETF and ICICI Prudential Multi Asset Allocation Fund?
Groww NIFTY 200 ETF: Nikhil Satam, Aakash Chauhan, Shashi Kumar. ICICI Prudential Multi Asset Allocation Fund: Sankaran Naren, Manish Banthia, Gaurav Chikane, Sharmila D'silva, Antariksha Banerjee, Akhil Kakkar, Masoomi Jurmarvala.
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.