HDFC NIFTY100 Low Volatility 30 Index 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
HDFC NIFTY100 Low Volatility 30 Index Fund is an Index fund and ICICI Prudential Nifty Alpha Low- Volatility 30 ETF is an ETF fund. In the year to 30-10-2026, HDFC NIFTY100 Low Volatility 30 Index Fund (Direct) returned −7.9% and ICICI Prudential Nifty Alpha Low- Volatility 30 ETF returned −7.2%. HDFC NIFTY100 Low Volatility 30 Index Fund charges 0.53% a year and ICICI Prudential Nifty Alpha Low- Volatility 30 ETF 0.57%. Their portfolios overlap 54.6%: they hold 17 of the same securities.
HDFC NIFTY100 Low Volatility 30 Index Fund
Index
- 1 year return
- −7.9%
- Expense ratio
- 0.53%
- NAV
- ₹9.89
ICICI Prudential Nifty Alpha Low- Volatility 30 ETF
ETF
- 1 year return
- −7.2%
- Expense ratio
- 0.57%
- NAV
- ₹25.84
Which is better, HDFC NIFTY100 Low Volatility 30 Index 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 −7.9%.
- HDFC NIFTY100 Low Volatility 30 Index costs less: 0.53% a year against 0.57%.
- HDFC NIFTY100 Low Volatility 30 Index fell less in its worst fall since 10-07-2024: −18.2% against −25.0%.
- HDFC NIFTY100 Low Volatility 30 Index holds more in large companies: 96.9% of the fund in large caps against 84.3%.
- ICICI Prudential Nifty Alpha Low- Volatility 30 ETF is the larger fund: ₹1,470 Cr against ₹199 Cr.
- Their portfolios overlap 54.6%: 17 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 | HDFC NIFTY100 Low Volatility 30 Index Fund | ICICI Prudential Nifty Alpha Low- Volatility 30 ETF |
|---|---|---|
| Fund house | HDFC Mutual Fund | ICICI Prudential Mutual Fund |
| Category | Index | ETF |
| AUM | ₹199 Cr (30-09-2026) | ₹1,470 Cr (30-09-2026) |
| NAV | ₹9.89 (Direct) | ₹25.84 |
| Expense ratio (Direct) | 0.53% | Not available |
| Expense ratio (Regular) | 0.98% | Not available |
| Riskometer | Very High | Not available |
| Benchmark | Nifty 100 Low Volatility 30 TRI | Nifty Alpha Low -Volatility 30 TRI |
| Launch date | 10-07-2024 | 12-08-2020 |
| Minimum investment | ₹100 | 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 | Nandita Menezes, Arun Agarwal | Nishit Patel, Ajaykumar Solanki, Ashwini Bharucha, Venus Ahuja |
| Exit load | NIL | Nil There will be no exit load for units sold through the secondary market on the stock exchanges where the Scheme will be listed. |
HDFC NIFTY100 Low Volatility 30 Index 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 |
|---|---|---|---|---|---|---|---|
| HDFC NIFTY100 Low Volatility 30 Index Fund (Direct) | +1.27% | −7.34% | −2.63% | −7.90% | -- | -- | -- |
| ICICI Prudential Nifty Alpha Low- Volatility 30 ETF | −1.07% | −8.66% | −2.50% | −7.22% | +8.92% | +8.35% | -- |
HDFC NIFTY100 Low Volatility 30 Index vs ICICI Prudential Nifty Alpha Low- Volatility 30 ETF: Year-wise Returns
| Year | HDFC NIFTY100 Low Volatility 30 IndexHDFC NIFTY100 Low Volatility 30 Index | ICICI Prudential Nifty Alpha Low- Volatility 30 ETFICICI Prudential Nifty Alpha Low- Volatility 30 ETF |
|---|---|---|
| 2026to date | −9.40% | −7.45% |
| 2025 | +10.90% | −0.25% |
| 2024 | -- | +17.01% |
| 2023 | -- | +38.20% |
| 2022 | -- | −3.59% |
| 2021 | -- | +30.22% |
HDFC NIFTY100 Low Volatility 30 Index vs ICICI Prudential Nifty Alpha Low- Volatility 30 ETF: Rolling Returns
Every holding period of both funds, against Nifty100 Low Volatility 30 TRI, the benchmark of HDFC NIFTY100 Low Volatility 30 Index Fund
Rolling returns
Every 1-year holding period, 321 of them, one for each trading day from 10-07-2025 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.
HDFC NIFTY100 Low Volatility 30 Index Fund (Direct)
ICICI Prudential Nifty Alpha Low- Volatility 30 ETF
Nifty100 Low Volatility 30 TRI
to
Aug 2025Nov 2024
to
Nov 2025Jan 2025
to
Jan 2026Apr 2025
to
Apr 2026Jul 2025
to
Jul 2026Sept 2025
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HDFC NIFTY100 Low Volatility 30 Index | 37.1 | 29.0 | 21.5 | 12.5 | 0.0 | 0.0 | 0.0 | 2.5% | 1.4% | −10.8% | 14.0% | 0% |
| ICICI Prudential Nifty Alpha Low- Volatility 30 ETF | 66.1 | 23.6 | 7.5 | 2.8 | 0.0 | 0.0 | 0.0 | −2.3% | −1.9% | −17.2% | 14.0% | 20% |
| Nifty100 Low Volatility 30 TRI | 28.3 | 35.8 | 21.8 | 14.0 | 0.0 | 0.0 | 0.0 | 3.0% | 1.9% | −10.4% | 14.6% | -- |
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 Nifty100 Low Volatility 30 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 10-07-2024. Past returns do not promise future returns.
HDFC NIFTY100 Low Volatility 30 Index 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 10-07-2024 to 30-10-2026: 28 instalments, ₹2,80,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HDFC NIFTY100 Low Volatility 30 IndexHDFC NIFTY100 Low Volatility 30 Index Fund (Direct) | ₹2,80,000 | ₹2,71,150 | −₹8,850 | −2.7% |
| ICICI Prudential Nifty Alpha Low- Volatility 30 ETFICICI Prudential Nifty Alpha Low- Volatility 30 ETF | ₹2,80,000 | ₹2,62,680 | −₹17,320 | −5.2% |
HDFC NIFTY100 Low Volatility 30 IndexHDFC NIFTY100 Low Volatility 30 Index 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.
HDFC NIFTY100 Low Volatility 30 Index 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 | HDFC NIFTY100 Low Volatility 30 Index Fund (Direct) | ICICI Prudential Nifty Alpha Low- Volatility 30 ETF |
|---|---|---|
| Return (CAGR) | −7.90% | −7.22% |
| Standard deviation | 12.35% | 13.45% |
| Sharpe ratio | -1.06 | -0.93 |
| Sortino ratio | -1.40 | -1.22 |
| Maximum drawdown | −14.3% (31-03-2026) | −13.4% (31-03-2026) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.43% | −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 | HDFC NIFTY100 Low Volatility 30 Index Fund (Direct) | ICICI Prudential Nifty Alpha Low- Volatility 30 ETF |
|---|---|---|
| Return (CAGR) | −0.54% | +13.48% |
| Standard deviation | 11.68% | 13.41% |
| Sharpe ratio | -0.54 | 0.61 |
| Sortino ratio | -0.74 | 0.84 |
| Maximum drawdown | −18.2% (04-03-2025) | −25.0% (28-02-2025) |
| Beta | 1.00 | 1.00 |
| Alpha | −0.49% | −0.64% |
From daily NAVs, 10-07-2024 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.
HDFC NIFTY100 Low Volatility 30 Index Fund (Direct)
ICICI Prudential Nifty Alpha Low- Volatility 30 ETF
Nifty100 Low Volatility 30 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HDFC NIFTY100 Low Volatility 30 Index Fund (Direct) | −18.2% | 27-09-2024 | 04-03-2025 | Not yet | -- | −11.1% |
| ICICI Prudential Nifty Alpha Low- Volatility 30 ETF | −25.0% | 27-09-2024 | 28-02-2025 | Not yet | -- | −20.3% |
| Nifty100 Low Volatility 30 TRI | −18.1% | 27-09-2024 | 04-03-2025 | Not yet | -- | −10.2% |
From daily values since 10-07-2024, 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.
HDFC NIFTY100 Low Volatility 30 Index Fund (Direct)
ICICI Prudential Nifty Alpha Low- Volatility 30 ETF
Nifty100 Low Volatility 30 TRI
Against Nifty100 Low Volatility 30 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| HDFC NIFTY100 Low Volatility 30 Index Fund (Direct) | 98% | 101% | 0.06% |
| ICICI Prudential Nifty Alpha Low- Volatility 30 ETF | 83% | 113% | 5.26% |
From month-end values since 10-07-2024. 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.
HDFC NIFTY100 Low Volatility 30 Index vs ICICI Prudential Nifty Alpha Low- Volatility 30 ETF: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC NIFTY100 Low Volatility 30 Index Fund, September 2026; ICICI Prudential Nifty Alpha Low- Volatility 30 ETF, September 2026
Holdings in common
- Overlap
- 54.6%
- Held by both
- 17
- Only in HDFC NIFTY100 Low Volatility 30 Index
- 13
- Only in ICICI Prudential Nifty Alpha Low- Volatility 30 ETF
- 13
| Security | % of HDFC NIFTY100 Low Volatility 30 Index | % of ICICI Prudential Nifty Alpha Low- Volatility 30 ETF |
|---|---|---|
| Apollo Hospitals Enterprise Ltd. | 3.81% | 3.93% |
| NTPC Limited | 3.79% | 4.11% |
| ICICI Bank Ltd. | 3.84% | 3.78% |
| Sun Pharmaceutical Industries Ltd. | 3.74% | 3.61% |
| SBI Life Insurance Company Ltd. | 3.62% | 3.53% |
| Nestle India Ltd. | 3.53% | 3.72% |
| Torrent Pharmaceuticals Ltd. | 3.37% | 4.73% |
| Bharti Airtel Ltd. | 3.65% | 3.33% |
| Bajaj Auto Limited | 3.13% | 4.01% |
| State Bank of India | 3.08% | 3.15% |
| Titan Company Ltd. | 3.01% | 3.26% |
| Pidilite Industries Ltd. | 2.97% | 3.06% |
| Britannia Industries Ltd. | 3.67% | 2.91% |
| Reliance Industries Ltd. | 3.47% | 2.82% |
| UltraTech Cement Limited | 3.16% | 2.75% |
| Asian Paints Limited | 3.04% | 2.72% |
| Maruti Suzuki India Limited | 3.16% | 2.51% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 54.6% means 54.6% 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 HDFC NIFTY100 Low Volatility 30 Index Fund
| Security | % of fund |
|---|---|
| Kotak Mahindra Bank Limited | 3.63% |
| ITC LIMITED | 3.50% |
| Cipla Ltd. | 3.42% |
| HDFC Bank Ltd. | 3.39% |
| The Tata Power Company Ltd. | 3.39% |
Largest holdings only in ICICI Prudential Nifty Alpha Low- Volatility 30 ETF
| Security | % of fund |
|---|---|
| Marico Ltd. | 3.99% |
| Hindalco Industries Ltd. | 3.81% |
| JSW Steel Ltd. | 3.62% |
| Grasim Industries Ltd. | 3.61% |
| The Federal Bank Ltd. | 3.54% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC NIFTY100 Low Volatility 30 Index | ICICI Prudential Nifty Alpha Low- Volatility 30 ETF |
|---|---|---|
| Equity | 100.0% | 100.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 0.0% | 0.0% |
Market cap of stocks
| Market cap | HDFC NIFTY100 Low Volatility 30 Index | ICICI Prudential Nifty Alpha Low- Volatility 30 ETF |
|---|---|---|
| Large Cap | 96.9% | 84.3% |
| Mid Cap | 3.0% | 15.7% |
| Small Cap | 0.0% | 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 | HDFC NIFTY100 Low Volatility 30 Index | ICICI Prudential Nifty Alpha Low- Volatility 30 ETF |
|---|---|---|
| Pharmaceuticals & Biotechnology | 13.6% | 14.4% |
| Banks | 13.9% | 10.5% |
| Automobiles | 6.3% | 12.8% |
| Power | 10.5% | 4.1% |
| Food Products | 7.2% | 6.6% |
| Insurance | 6.9% | 5.7% |
| Diversified FMCG | 6.9% | 0.0% |
| Agricultural Food & Other Products | 0.0% | 6.5% |
| Cement & Cement Products | 3.2% | 6.4% |
The six largest sectors of each fund's stocks, % of the fund.
HDFC NIFTY100 Low Volatility 30 Index vs ICICI Prudential Nifty Alpha Low- Volatility 30 ETF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC NIFTY100 Low Volatility 30 Index Fund | ICICI Prudential Nifty Alpha Low- Volatility 30 ETF |
|---|---|---|
| Total expense ratio (Direct) | 0.53% | Not available |
| Base expense ratio (Direct) | 0.34% | 0.00% |
| Total expense ratio (Regular) | 0.98% | Not available |
| Base expense ratio (Regular) | 0.73% | 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.
HDFC NIFTY100 Low Volatility 30 Index Fund vs ICICI Prudential Nifty Alpha Low- Volatility 30 ETF: Frequently Asked Questions
What is the difference between HDFC NIFTY100 Low Volatility 30 Index Fund and ICICI Prudential Nifty Alpha Low- Volatility 30 ETF?
HDFC NIFTY100 Low Volatility 30 Index Fund is an Index fund, ICICI Prudential Nifty Alpha Low- Volatility 30 ETF is an ETF fund, run by HDFC Mutual Fund and ICICI Prudential Mutual Fund. Their portfolios overlap 54.6%. HDFC NIFTY100 Low Volatility 30 Index Fund charges 0.53% a year and ICICI Prudential Nifty Alpha Low- Volatility 30 ETF 0.57%.
Which has given higher returns, HDFC NIFTY100 Low Volatility 30 Index Fund or ICICI Prudential Nifty Alpha Low- Volatility 30 ETF?
Over 1 year: HDFC NIFTY100 Low Volatility 30 Index Fund −7.90%, 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, HDFC NIFTY100 Low Volatility 30 Index Fund or ICICI Prudential Nifty Alpha Low- Volatility 30 ETF?
HDFC NIFTY100 Low Volatility 30 Index Fund charges less: 0.53% a year against 0.57%. These are the total expense ratios reported to AMFI.
How much do HDFC NIFTY100 Low Volatility 30 Index Fund and ICICI Prudential Nifty Alpha Low- Volatility 30 ETF overlap?
54.6%. They hold 17 of the same securities, the largest shared ones being APOLLOHOSP, NTPC, ICICIBANK. From each fund's latest monthly portfolio.
Can I invest in both HDFC NIFTY100 Low Volatility 30 Index Fund and ICICI Prudential Nifty Alpha Low- Volatility 30 ETF?
Yes. 54.6% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages HDFC NIFTY100 Low Volatility 30 Index Fund and ICICI Prudential Nifty Alpha Low- Volatility 30 ETF?
HDFC NIFTY100 Low Volatility 30 Index Fund: Nandita Menezes, Arun Agarwal. 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.