ICICI Prudential Dynamic Term Fund vs ICICI Prudential Gilt Fund
Direct Plan, Growth option · Data as on 30-10-2026
ICICI Prudential Dynamic Term Fund is a Dynamic Bond fund and ICICI Prudential Gilt Fund is a Gilt fund. In the 3 years to 30-10-2026, ICICI Prudential Dynamic Term Fund (Direct) returned 7.2% a year and ICICI Prudential Gilt Fund (Direct) returned 6.2% a year. ICICI Prudential Dynamic Term Fund charges 0.63% a year and ICICI Prudential Gilt Fund 0.58% (Direct plans). Their portfolios overlap 50.6%: they hold 40 of the same securities.
ICICI Prudential Dynamic Term Fund
Dynamic Bond
- 3 year return
- 7.2%
- Expense ratio
- 0.63%
- NAV
- ₹42.18
ICICI Prudential Gilt Fund
Gilt
- 3 year return
- 6.2%
- Expense ratio
- 0.58%
- NAV
- ₹114.42
Which is better, ICICI Prudential Dynamic Term or ICICI Prudential Gilt? 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 Dynamic Term returned more over 5 years: 6.8% a year against 6.1%.
- ICICI Prudential Dynamic Term returned more over 3 years: 7.2% a year against 6.2%.
- ICICI Prudential Gilt costs less: 0.58% a year against 0.63% (Direct plans).
- ICICI Prudential Dynamic Term swung less over 3 years: a standard deviation of 1.6% a year against 2.4%.
- ICICI Prudential Dynamic Term fell less in its worst fall since 03-01-2013: −3.6% against −12.3%.
- ICICI Prudential Dynamic Term is the larger fund: ₹12,863 Cr against ₹9,118 Cr.
- Their portfolios overlap 50.6%: 40 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 Dynamic Term Fund | ICICI Prudential Gilt Fund |
|---|---|---|
| Fund house | ICICI Prudential Mutual Fund | ICICI Prudential Mutual Fund |
| Category | Dynamic Bond | Gilt |
| AUM | ₹12,863 Cr (30-09-2026) | ₹9,118 Cr (30-09-2026) |
| NAV | ₹42.18 (Direct) | ₹114.42 (Direct) |
| Expense ratio (Direct) | 0.63% | 0.58% |
| Expense ratio (Regular) | 1.32% | 1.11% |
| Riskometer | Not available | Not available |
| Benchmark | Not available | Nifty All Duration G-Sec Index |
| Launch date | Not available | 19-08-1999 |
| Minimum investment | Not available | ₹5,000 |
| Lock in | Not available | None |
| Fund managers | Not available | Manish Banthia, Raunak Surana |
| Exit load | Not available | Nil |
ICICI Prudential Dynamic Term vs ICICI Prudential Gilt: 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 Dynamic Term Fund (Direct) | −0.76% | −0.81% | +1.91% | +3.66% | +7.16% | +6.75% | +7.73% |
| ICICI Prudential Gilt Fund (Direct) | −1.33% | −2.32% | +0.99% | +1.91% | +6.23% | +6.08% | +7.15% |
| Dynamic Bond average | −0.48% | −0.66% | +1.80% | +3.05% | +6.70% | +5.98% | +6.68% |
| Gilt average | −0.69% | −1.34% | +1.62% | +2.12% | +6.19% | +5.46% | +6.64% |
Category average: the average of the 22 Dynamic Bond funds and the 28 Gilt funds, same plan type.
ICICI Prudential Dynamic Term vs ICICI Prudential Gilt: Year-wise Returns
| Year | Dynamic TermICICI Prudential Dynamic Term | GiltICICI Prudential Gilt |
|---|---|---|
| 2026to date | +2.75% | +1.11% |
| 2025 | +7.93% | +7.33% |
| 2024 | +9.01% | +8.73% |
| 2023 | +8.34% | +8.83% |
| 2022 | +5.34% | +4.27% |
| 2021 | +5.11% | +4.40% |
ICICI Prudential Dynamic Term vs ICICI Prudential Gilt: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 2,618 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.
ICICI Prudential Dynamic Term Fund (Direct)
ICICI Prudential Gilt 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ICICI Prudential Dynamic Term | 0.0 | 0.0 | 73.1 | 26.4 | 0.5 | 0.0 | 0.0 | 9.3% | 8.9% | 6.0% | 15.7% |
| ICICI Prudential Gilt | 0.0 | 0.0 | 78.0 | 21.1 | 1.0 | 0.0 | 0.0 | 8.8% | 8.5% | 5.3% | 16.2% |
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 03-01-2013. Past returns do not promise future returns.
ICICI Prudential Dynamic Term vs ICICI Prudential Gilt: 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 03-01-2013 to 30-10-2026: 166 instalments, ₹16,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| ICICI Prudential Dynamic TermICICI Prudential Dynamic Term Fund (Direct) | ₹16,60,000 | ₹30,09,396 | ₹13,49,396 | 8.2% |
| ICICI Prudential GiltICICI Prudential Gilt Fund (Direct) | ₹16,60,000 | ₹28,76,944 | ₹12,16,944 | 7.6% |
ICICI Prudential Dynamic TermICICI Prudential Dynamic Term Fund (Direct)
ICICI Prudential GiltICICI Prudential Gilt 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.
ICICI Prudential Dynamic Term vs ICICI Prudential Gilt: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | ICICI Prudential Dynamic Term Fund (Direct) | ICICI Prudential Gilt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +3.66% | +1.91% |
| Standard deviation | 2.21% | 3.42% |
| Sharpe ratio | -0.72 | -0.98 |
| Sortino ratio | -0.97 | -1.32 |
| Maximum drawdown | −1.9% (27-10-2026) | −3.7% (27-10-2026) |
| 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 | ICICI Prudential Dynamic Term Fund (Direct) | ICICI Prudential Gilt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.16% | +6.23% |
| Standard deviation | 1.63% | 2.39% |
| Sharpe ratio | 0.70 | 0.09 |
| Sortino ratio | 0.99 | 0.12 |
| Maximum drawdown | −1.9% (27-10-2026) | −3.7% (27-10-2026) |
| 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 | ICICI Prudential Dynamic Term Fund (Direct) | ICICI Prudential Gilt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.75% | +6.08% |
| Standard deviation | 1.61% | 2.23% |
| Sharpe ratio | 0.59 | 0.12 |
| Sortino ratio | 0.82 | 0.17 |
| Maximum drawdown | −1.9% (27-10-2026) | −3.7% (27-10-2026) |
| 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 | ICICI Prudential Dynamic Term Fund (Direct) | ICICI Prudential Gilt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.18% | +8.10% |
| Standard deviation | 2.44% | 4.32% |
| Sharpe ratio | 1.28 | 0.47 |
| Sortino ratio | 2.00 | 0.67 |
| Maximum drawdown | −3.6% (10-03-2017) | −12.3% (19-08-2013) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 03-01-2013 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.
ICICI Prudential Dynamic Term Fund (Direct)
ICICI Prudential Gilt Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| ICICI Prudential Dynamic Term Fund (Direct) | −3.6% | 24-11-2016 | 10-03-2017 | 22-05-2017 | 2 months | −1.6% |
| ICICI Prudential Gilt Fund (Direct) | −12.3% | 27-05-2013 | 19-08-2013 | 23-07-2014 | 11 months | −3.4% |
From daily values since 03-01-2013, 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.
ICICI Prudential Dynamic Term Fund (Direct)
ICICI Prudential Gilt 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.
ICICI Prudential Dynamic Term Fund (Direct)
ICICI Prudential Gilt 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.
ICICI Prudential Dynamic Term Fund (Direct)
ICICI Prudential Gilt Fund (Direct)
ICICI Prudential Dynamic Term vs ICICI Prudential Gilt: Portfolio Overlap
From each fund's latest monthly portfolio: ICICI Prudential Dynamic Term Fund, September 2026; ICICI Prudential Gilt Fund, September 2026
Holdings in common
- Overlap
- 50.6%
- Held by both
- 40
- Only in ICICI Prudential Dynamic Term
- 50
- Only in ICICI Prudential Gilt
- 6
| Security | % of ICICI Prudential Dynamic Term | % of ICICI Prudential Gilt |
|---|---|---|
| Government Securities | 9.37% | 14.11% |
| Government Securities | 5.45% | 8.24% |
| Government Securities | 3.80% | 6.80% |
| State Government of Maharashtra | 2.14% | 3.02% |
| State Government of Maharashtra | 2.08% | 2.93% |
| State Government of Maharashtra | 1.94% | 2.23% |
| State Government of Madhya Pradesh | 1.83% | 2.07% |
| State Government of Rajasthan | 1.80% | 1.78% |
| State Government of Maharashtra | 1.72% | 1.81% |
| State Government of Maharashtra | 1.71% | 2.51% |
| Government Securities | 1.63% | 21.22% |
| State Government of Madhya Pradesh | 1.50% | 1.76% |
| Government Securities | 2.29% | 1.44% |
| State Government of Telangana | 1.35% | 2.32% |
| Government Securities | 1.34% | 3.51% |
| State Government of Uttar Pradesh | 1.13% | 2.65% |
| State Government of Maharashtra | 0.94% | 1.33% |
| State Government of Chhattisgarh | 0.82% | 0.87% |
| State Government of Karnataka | 0.82% | 0.77% |
| State Government of Himachal pradesh | 0.75% | 1.06% |
| State Government of Rajasthan | 0.75% | 2.12% |
| State Government of Rajasthan | 0.68% | 1.01% |
| State Government of Andhra Pradesh | 0.67% | 0.95% |
| State Government of Rajasthan | 0.59% | 0.83% |
| State Government of Madhya Pradesh | 0.54% | 0.76% |
| State Government of Telangana | 0.47% | 0.66% |
| State Government of Maharashtra | 0.40% | 0.56% |
| State Government of Bihar | 0.39% | 0.55% |
| State Government of Haryana | 0.38% | 0.80% |
| State Government of Haryana | 0.37% | 0.52% |
| State Government of Andhra Pradesh | 0.34% | 0.42% |
| State Government of Andhra Pradesh | 0.28% | 0.40% |
| State Government of Madhya Pradesh | 0.27% | 0.38% |
| State Government of West Bengal | 0.26% | 0.27% |
| State Government of Gujarat | 0.24% | 0.57% |
| State Government of Haryana | 0.21% | 0.29% |
| State Government of Odisha | 0.12% | 0.17% |
| State Government of Maharashtra | 0.10% | 0.10% |
| Government Securities | 0.05% | 0.11% |
| Government Securities | 0.31% | 0.03% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 50.6% means 50.6% 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 ICICI Prudential Dynamic Term Fund
| Security | % of fund |
|---|---|
| LIC Housing Finance Ltd. | 7.29% |
| Vedanta Ltd. | 2.34% |
| Muthoot Finance Ltd. | 2.33% |
| Cholamandalam Investment And Finance Company Ltd. | 2.33% |
| Vedanta Ltd. | 2.16% |
Largest holdings only in ICICI Prudential Gilt Fund
| Security | % of fund |
|---|---|
| State Government of Tamil Nadu | 1.06% |
| State Government of Telangana | 0.87% |
| State Government of Maharashtra | 0.55% |
| State Government of Telangana | 0.43% |
| State Government of Haryana | 0.21% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | ICICI Prudential Dynamic Term | ICICI Prudential Gilt |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 95.7% | 97.1% |
| Cash and others | 4.3% | 2.9% |
ICICI Prudential Dynamic Term vs ICICI Prudential Gilt: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | ICICI Prudential Dynamic Term Fund | ICICI Prudential Gilt Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.63% | 0.58% |
| Base expense ratio (Direct) | 0.54% | 0.49% |
| Total expense ratio (Regular) | 1.32% | 1.11% |
| Base expense ratio (Regular) | 1.13% | 0.94% |
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 Dynamic Term with
ICICI Prudential Dynamic Term Fund vs ICICI Prudential Gilt Fund: Frequently Asked Questions
What is the difference between ICICI Prudential Dynamic Term Fund and ICICI Prudential Gilt Fund?
ICICI Prudential Dynamic Term Fund is a Dynamic Bond fund, ICICI Prudential Gilt Fund is a Gilt fund, run by ICICI Prudential Mutual Fund. Their portfolios overlap 50.6%. ICICI Prudential Dynamic Term Fund charges 0.63% a year and ICICI Prudential Gilt Fund 0.58%.
Which has given higher returns, ICICI Prudential Dynamic Term Fund or ICICI Prudential Gilt Fund?
Over 1 year: ICICI Prudential Dynamic Term Fund +3.66%, ICICI Prudential Gilt Fund +1.91%. Over 3 years: ICICI Prudential Dynamic Term Fund +7.16% a year, ICICI Prudential Gilt Fund +6.23% a year. Over 5 years: ICICI Prudential Dynamic Term Fund +6.75% a year, ICICI Prudential Gilt Fund +6.08% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, ICICI Prudential Dynamic Term Fund or ICICI Prudential Gilt Fund?
ICICI Prudential Gilt Fund charges less: 0.58% a year against 0.63%. These are the Direct plans' total expense ratios reported to AMFI.
How much do ICICI Prudential Dynamic Term Fund and ICICI Prudential Gilt Fund overlap?
50.6%. They hold 40 of the same securities, the largest shared ones being Government Securities, Government Securities, Government Securities. From each fund's latest monthly portfolio.
Which is better for SIP, ICICI Prudential Dynamic Term Fund or ICICI Prudential Gilt Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,24,155 in ICICI Prudential Dynamic Term Fund (XIRR 6.7% a year) and ₹7,08,531 in ICICI Prudential Gilt Fund (XIRR 5.8% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both ICICI Prudential Dynamic Term Fund and ICICI Prudential Gilt Fund?
Yes. 50.6% of each fund's money sits in the same holdings, so a large part 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.