ICICI Prudential Commodities Fund vs ICICI Prudential Nifty Commodities ETF
Direct Plan where a fund has one, Growth option · Data as on 29-10-2026
ICICI Prudential Commodities Fund is a Thematic fund and ICICI Prudential Nifty Commodities ETF is an ETF fund. In the 3 years to 30-10-2026, ICICI Prudential Commodities Fund (Direct) returned 14.9% a year and ICICI Prudential Nifty Commodities ETF returned 13.5% a year. ICICI Prudential Commodities Fund charges 1.04% a year and ICICI Prudential Nifty Commodities ETF 0.35%. Their portfolios overlap 32.9%: they hold 13 of the same securities.
ICICI Prudential Commodities Fund
Thematic
- 3 year return
- 14.9%
- Expense ratio
- 1.04%
- NAV
- ₹47.23
ICICI Prudential Nifty Commodities ETF
ETF
- 3 year return
- 13.5%
- Expense ratio
- 0.35%
- NAV
- ₹91.59
Which is better, ICICI Prudential Commodities or ICICI Prudential Nifty Commodities 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 Commodities returned more over 3 years: 14.9% a year against 13.5%.
- ICICI Prudential Commodities returned more over 1 year: −2.4% against −4.8%.
- ICICI Prudential Nifty Commodities ETF costs less: 0.35% a year against 1.04%.
- ICICI Prudential Nifty Commodities ETF swung less over 3 years: a standard deviation of 18.3% a year against 19.2%.
- ICICI Prudential Commodities fell less in its worst fall since 16-12-2022: −18.5% against −22.5%.
- ICICI Prudential Commodities holds 8.2% of the fund in foreign stocks; ICICI Prudential Nifty Commodities ETF 0.0%.
- ICICI Prudential Nifty Commodities ETF holds more in large companies: 85.4% of the fund in large caps against 39.0%.
- ICICI Prudential Commodities is the larger fund: ₹4,133 Cr against ₹117 Cr.
- Their portfolios overlap 32.9%: 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 | ICICI Prudential Commodities Fund | ICICI Prudential Nifty Commodities ETF |
|---|---|---|
| Fund house | ICICI Prudential Mutual Fund | ICICI Prudential Mutual Fund |
| Category | Thematic | ETF |
| AUM | ₹4,133 Cr (30-09-2026) | ₹117 Cr (30-09-2026) |
| NAV | ₹47.23 (Direct) | ₹91.59 |
| Expense ratio (Direct) | 1.04% | Not available |
| Expense ratio (Regular) | 1.96% | Not available |
| Riskometer | Not available | Not available |
| Benchmark | Nifty Commodities TRI | Nifty Commodities TRI |
| Launch date | 15-10-2019 | 15-12-2022 |
| Minimum investment | ₹5,000 | 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 | Lalit Kumar | Nishit Patel, Ashwini Bharucha, Venus Ahuja |
| Exit load | Exit load of 1% if redeemed within 3 months. | Not available |
ICICI Prudential Commodities vs ICICI Prudential Nifty Commodities 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 |
|---|---|---|---|---|---|---|---|
| ICICI Prudential Commodities Fund (Direct) | −6.18% | −7.54% | −8.89% | −2.42% | +14.92% | +13.00% | -- |
| ICICI Prudential Nifty Commodities ETF | −3.65% | −8.44% | −12.04% | −4.83% | +13.50% | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | +13.76% | +11.62% | -- |
Category average: the average of the 235 Thematic funds, same plan type.
ICICI Prudential Commodities vs ICICI Prudential Nifty Commodities ETF: Year-wise Returns
| Year | CommoditiesICICI Prudential Commodities | Nifty Commodities ETFICICI Prudential Nifty Commodities ETF | Nifty Commodities TRI |
|---|---|---|---|
| 2026to date | −3.61% | −5.16% | −4.63% |
| 2025 | +19.19% | +18.06% | +18.42% |
| 2024 | +9.45% | +5.78% | +6.11% |
| 2023 | +28.72% | +30.09% | +30.65% |
| 2022 | +16.25% | -- | +8.67% |
| 2021 | +72.75% | -- | +49.79% |
ICICI Prudential Commodities vs ICICI Prudential Nifty Commodities ETF: Rolling Returns
Every holding period of both funds, against Nifty Commodities TRI, the benchmark of both
Rolling returns
Every 3-year holding period, 215 of them, one for each trading day from 16-12-2025 to 29-10-2026: the yearly return (CAGR) of each, plotted on the day it ended. One lucky or unlucky start day cannot flatter or hide a fund.
ICICI Prudential Commodities Fund (Direct)
ICICI Prudential Nifty Commodities ETF
Nifty Commodities TRI
to
Jan 2026Mar 2023
to
Mar 2026Apr 2023
to
Apr 2026Jun 2023
to
Jun 2026Aug 2023
to
Aug 2026Oct 2023
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ICICI Prudential Commodities | 0.0 | 0.0 | 0.0 | 11.2 | 54.9 | 34.0 | 0.0 | 18.8% | 18.8% | 13.1% | 23.2% | 50% |
| ICICI Prudential Nifty Commodities ETF | 0.0 | 0.0 | 0.0 | 15.8 | 48.8 | 35.3 | 0.0 | 18.4% | 18.4% | 11.8% | 23.2% | 0% |
| Nifty Commodities TRI | 0.0 | 0.0 | 0.0 | 13.5 | 48.8 | 37.7 | 0.0 | 18.8% | 18.9% | 12.2% | 23.7% | -- |
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 Commodities 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 16-12-2022. Past returns do not promise future returns.
ICICI Prudential Commodities vs ICICI Prudential Nifty Commodities 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 01-12-2022 to 29-10-2026: 47 instalments, ₹4,70,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| ICICI Prudential CommoditiesICICI Prudential Commodities Fund (Direct) | ₹4,70,000 | ₹5,60,816 | ₹90,816 | 9.0% |
| ICICI Prudential Nifty Commodities ETFICICI Prudential Nifty Commodities ETF | ₹4,70,000 | ₹5,40,791 | ₹70,791 | 7.1% |
ICICI Prudential CommoditiesICICI Prudential Commodities Fund (Direct)
ICICI Prudential Nifty Commodities ETFICICI Prudential Nifty Commodities 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.
ICICI Prudential Commodities vs ICICI Prudential Nifty Commodities ETF: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | ICICI Prudential Commodities Fund (Direct) | ICICI Prudential Nifty Commodities ETF |
|---|---|---|
| Return (CAGR) | −2.42% | −4.83% |
| Standard deviation | 18.97% | 16.39% |
| Sharpe ratio | -0.40 | -0.61 |
| Sortino ratio | -0.54 | -0.80 |
| Maximum drawdown | −14.3% (23-10-2026) | −15.9% (23-10-2026) |
| Beta | 1.08 | 1.00 |
| Alpha | +2.70% | −0.36% |
From daily NAVs, 29-10-2025 to 29-10-2026. 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 | ICICI Prudential Commodities Fund (Direct) | ICICI Prudential Nifty Commodities ETF |
|---|---|---|
| Return (CAGR) | +14.92% | +13.50% |
| Standard deviation | 19.20% | 18.33% |
| Sharpe ratio | 0.46 | 0.41 |
| Sortino ratio | 0.62 | 0.54 |
| Maximum drawdown | −18.5% (07-04-2025) | −22.5% (13-01-2025) |
| Beta | 0.96 | 1.00 |
| Alpha | +0.95% | −0.38% |
From daily NAVs, 27-10-2023 to 29-10-2026. 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 | ICICI Prudential Commodities Fund (Direct) | ICICI Prudential Nifty Commodities ETF |
|---|---|---|
| Return (CAGR) | +24.69% | +11.45% |
| Standard deviation | 22.74% | 17.30% |
| Sharpe ratio | 0.86 | 0.30 |
| Sortino ratio | 1.17 | 0.41 |
| Maximum drawdown | −41.2% (24-03-2020) | −22.5% (13-01-2025) |
| Beta | 1.01 | 1.00 |
| Alpha | +7.83% | −0.40% |
From daily NAVs, 16-10-2019 to 29-10-2026. 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.
ICICI Prudential Commodities Fund (Direct)
ICICI Prudential Nifty Commodities ETF
Nifty Commodities TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| ICICI Prudential Commodities Fund (Direct) | −18.5% | 01-10-2024 | 07-04-2025 | 16-09-2025 | 5 months | −12.0% |
| ICICI Prudential Nifty Commodities ETF | −22.5% | 27-09-2024 | 13-01-2025 | 29-01-2026 | 13 months | −14.2% |
| Nifty Commodities TRI | −22.4% | 27-09-2024 | 13-01-2025 | 02-01-2026 | 12 months | −14.1% |
From daily values since 16-12-2022, 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.
ICICI Prudential Commodities Fund (Direct)
ICICI Prudential Nifty Commodities ETF
Nifty Commodities 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.
ICICI Prudential Commodities Fund (Direct)
ICICI Prudential Nifty Commodities ETF
Nifty Commodities TRI
Against Nifty Commodities TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| ICICI Prudential Commodities Fund (Direct) | 93% | 83% | 6.29% |
| ICICI Prudential Nifty Commodities ETF | 99% | 101% | 0.09% |
From month-end values since 16-12-2022. 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.
ICICI Prudential Commodities vs ICICI Prudential Nifty Commodities ETF: Portfolio Overlap
From each fund's latest monthly portfolio: ICICI Prudential Commodities Fund, September 2026; ICICI Prudential Nifty Commodities ETF, September 2026
Holdings in common
- Overlap
- 32.9%
- Held by both
- 13
- Only in ICICI Prudential Commodities
- 33
- Only in ICICI Prudential Nifty Commodities ETF
- 17
| Security | % of ICICI Prudential Commodities | % of ICICI Prudential Nifty Commodities ETF |
|---|---|---|
| JSW Steel Ltd. | 6.62% | 5.82% |
| Hindalco Industries Ltd. | 4.51% | 6.57% |
| Ultratech Cement Ltd. | 3.89% | 6.25% |
| Vedanta Aluminium Metal Ltd. | 6.57% | 3.37% |
| Vedanta Ltd. | 3.79% | 2.20% |
| Jindal Steel Ltd. | 7.67% | 2.03% |
| Tata Steel Ltd. | 2.00% | 7.37% |
| APL Apollo Tubes Ltd. | 2.85% | 1.92% |
| SRF Ltd. | 1.68% | 1.73% |
| Hindustan Petroleum Corporation Ltd. | 8.28% | 1.62% |
| UPL Ltd. | 3.90% | 1.46% |
| Bharat Petroleum Corporation Ltd. | 1.32% | 2.93% |
| Ambuja Cements Ltd. | 1.92% | 1.12% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 32.9% means 32.9% 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 ICICI Prudential Commodities Fund
| Security | % of fund |
|---|---|
| Jindal Stainless Ltd. | 4.69% |
| Usha Martin Ltd. | 3.79% |
| Navin Fluorine International Ltd. | 3.36% |
| Aarti Industries Ltd. | 2.86% |
| National Aluminium Company Ltd. | 2.40% |
Largest holdings only in ICICI Prudential Nifty Commodities ETF
| Security | % of fund |
|---|---|
| Reliance Industries Ltd. | 9.91% |
| NTPC Ltd. | 7.39% |
| Grasim Industries Ltd. | 5.57% |
| Coal India Ltd. | 4.91% |
| Oil & Natural Gas Corporation Ltd. | 4.23% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | ICICI Prudential Commodities | ICICI Prudential Nifty Commodities ETF |
|---|---|---|
| Equity | 98.0% | 100.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 2.0% | 0.0% |
Market cap of stocks
| Market cap | ICICI Prudential Commodities | ICICI Prudential Nifty Commodities ETF |
|---|---|---|
| Large Cap | 39.0% | 85.4% |
| Mid Cap | 26.9% | 14.6% |
| Small Cap | 23.8% | 0.0% |
| Foreign stocks | 8.2% | 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 | ICICI Prudential Commodities | ICICI Prudential Nifty Commodities ETF |
|---|---|---|
| Ferrous Metals | 23.5% | 15.2% |
| Power | 0.0% | 22.4% |
| Non - Ferrous Metals | 18.2% | 9.9% |
| Chemicals & Petrochemicals | 17.6% | 3.9% |
| Petroleum Products | 9.6% | 16.9% |
| Cement & Cement Products | 6.6% | 14.4% |
| Industrial Products | 7.3% | 1.9% |
| Fertilizers & Agrochemicals | 7.0% | 1.5% |
| Oil | 0.0% | 5.4% |
The six largest sectors of each fund's stocks, % of the fund.
ICICI Prudential Commodities vs ICICI Prudential Nifty Commodities ETF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | ICICI Prudential Commodities Fund | ICICI Prudential Nifty Commodities ETF |
|---|---|---|
| Total expense ratio (Direct) | 1.04% | Not available |
| Base expense ratio (Direct) | 0.84% | 0.00% |
| Total expense ratio (Regular) | 1.96% | Not available |
| Base expense ratio (Regular) | 1.63% | 0.26% |
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 Commodities with
ICICI Prudential Commodities Fund vs ICICI Prudential Nifty Commodities ETF: Frequently Asked Questions
What is the difference between ICICI Prudential Commodities Fund and ICICI Prudential Nifty Commodities ETF?
ICICI Prudential Commodities Fund is a Thematic fund, ICICI Prudential Nifty Commodities ETF is an ETF fund, run by ICICI Prudential Mutual Fund. Their portfolios overlap 32.9%. ICICI Prudential Commodities Fund charges 1.04% a year and ICICI Prudential Nifty Commodities ETF 0.35%.
Which has given higher returns, ICICI Prudential Commodities Fund or ICICI Prudential Nifty Commodities ETF?
Over 1 year: ICICI Prudential Commodities Fund −2.42%, ICICI Prudential Nifty Commodities ETF −4.83%. Over 3 years: ICICI Prudential Commodities Fund +14.92% a year, ICICI Prudential Nifty Commodities ETF +13.50% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, ICICI Prudential Commodities Fund or ICICI Prudential Nifty Commodities ETF?
ICICI Prudential Nifty Commodities ETF charges less: 0.35% a year against 1.04%. These are the total expense ratios reported to AMFI.
How much do ICICI Prudential Commodities Fund and ICICI Prudential Nifty Commodities ETF overlap?
32.9%. They hold 13 of the same securities, the largest shared ones being JSWSTEEL, HINDALCO, ULTRACEMCO. From each fund's latest monthly portfolio.
Which is better for SIP, ICICI Prudential Commodities Fund or ICICI Prudential Nifty Commodities ETF?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 29-10-2026 grew to ₹4,01,178 in ICICI Prudential Commodities Fund (XIRR 5.2% a year) and ₹3,85,743 in ICICI Prudential Nifty Commodities ETF (XIRR 2.7% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both ICICI Prudential Commodities Fund and ICICI Prudential Nifty Commodities ETF?
Yes. 32.9% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages ICICI Prudential Commodities Fund and ICICI Prudential Nifty Commodities ETF?
ICICI Prudential Commodities Fund: Lalit Kumar. ICICI Prudential Nifty Commodities ETF: Nishit Patel, 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.