ICICI Prudential Exports & Services Fund vs Zerodha Nifty 50 Index Fund
Direct Plan, Growth option · Data as on 30-10-2026
ICICI Prudential Exports & Services Fund is a Thematic fund and Zerodha Nifty 50 Index Fund is an Index fund. In the year to 30-10-2026, ICICI Prudential Exports & Services Fund (Direct) returned −3.6% and Zerodha Nifty 50 Index Fund (Direct) returned −10.3%. ICICI Prudential Exports & Services Fund charges 1.81% a year and Zerodha Nifty 50 Index Fund 0.28% (Direct plans). Their portfolios overlap 42.0%: they hold 22 of the same securities.
ICICI Prudential Exports & Services Fund
Thematic
- 1 year return
- −3.6%
- Expense ratio
- 1.81%
- NAV
- ₹177.71
Zerodha Nifty 50 Index Fund
Index
- 1 year return
- −10.3%
- Expense ratio
- 0.28%
- NAV
- ₹9.24
Which is better, ICICI Prudential Exports & Services or Zerodha Nifty 50 Index? 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 Exports & Services returned more over 1 year: −3.6% against −10.3%.
- Zerodha Nifty 50 Index costs less: 0.28% a year against 1.81% (Direct plans).
- ICICI Prudential Exports & Services fell less in its worst fall since 17-10-2025: −13.7% against −15.2%.
- Zerodha Nifty 50 Index holds more in large companies: 99.2% of the fund in large caps against 54.8%.
- ICICI Prudential Exports & Services is the larger fund: ₹1,454 Cr against ₹75 Cr.
- Their portfolios overlap 42.0%: 22 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 Exports & Services Fund | Zerodha Nifty 50 Index Fund |
|---|---|---|
| Fund house | ICICI Prudential Mutual Fund | Zerodha Mutual Fund |
| Category | Thematic | Index |
| AUM | ₹1,454 Cr (30-09-2026) | ₹75 Cr (30-09-2026) |
| NAV | ₹177.71 (Direct) | ₹9.24 (Direct) |
| Expense ratio (Direct) | 1.81% | 0.28% |
| Expense ratio (Regular) | 2.32% | Not available |
| Riskometer | Not available | Very High |
| Benchmark | BSE 500 TRI | Nifty 50 TRI |
| Launch date | 30-11-2005 | 14-10-2025 |
| Minimum investment | ₹5,000 | ₹100 |
| Lock in | None | None |
| Fund managers | Sri Sharma, Sharmila D’mello | Kedarnath Mirajkar |
| Exit load | 1% of applicable Net Asset Value - If units purchased or switched in from another scheme of the Fund are redeemed or switched out within 15 days from the date of allotment. Nil - If the units purchased or switched in from another scheme of the Fund are redeemed or switched out after 15 days from the date of allotment. | Nil |
ICICI Prudential Exports & Services vs Zerodha Nifty 50 Index: 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 Exports & Services Fund (Direct) | −0.92% | −3.77% | +0.34% | −3.64% | +13.82% | +12.65% | +13.50% |
| Zerodha Nifty 50 Index Fund (Direct) | +1.95% | −5.00% | −3.12% | −10.25% | -- | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | +13.76% | +11.62% | +13.76% |
Category average: the average of the 235 Thematic funds, same plan type.
ICICI Prudential Exports & Services vs Zerodha Nifty 50 Index: Year-wise Returns
| Year | ICICI Prudential Exports & ServicesICICI Prudential Exports & Services | Zerodha Nifty 50 IndexZerodha Nifty 50 Index |
|---|---|---|
| 2026to date | −4.27% | −11.01% |
| 2025 | +10.45% | -- |
| 2024 | +23.76% | -- |
| 2023 | +27.79% | -- |
| 2022 | +7.66% | -- |
| 2021 | +36.00% | -- |
ICICI Prudential Exports & Services vs Zerodha Nifty 50 Index: Rolling Returns
Every holding period of both funds, against BSE 500 TRI, the benchmark of ICICI Prudential Exports & Services Fund
ICICI Prudential Exports & Services vs Zerodha Nifty 50 Index: 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 01-10-2025 to 30-10-2026: 13 instalments, ₹1,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| ICICI Prudential Exports & ServicesICICI Prudential Exports & Services Fund (Direct) | ₹1,30,000 | ₹1,28,032 | −₹1,968 | −2.6% |
| Zerodha Nifty 50 IndexZerodha Nifty 50 Index Fund (Direct) | ₹1,30,000 | ₹1,23,091 | −₹6,909 | −9.1% |
ICICI Prudential Exports & ServicesICICI Prudential Exports & Services Fund (Direct)
Zerodha Nifty 50 IndexZerodha Nifty 50 Index 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 Exports & Services vs Zerodha Nifty 50 Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | ICICI Prudential Exports & Services Fund (Direct) | Zerodha Nifty 50 Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | −3.64% | −10.25% |
| Standard deviation | 13.46% | 13.60% |
| Sharpe ratio | -0.66 | -1.14 |
| Sortino ratio | -0.89 | -1.52 |
| Maximum drawdown | −13.7% (30-03-2026) | −15.2% (30-03-2026) |
| Beta | 0.91 | 1.00 |
| Alpha | +2.84% | −0.28% |
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 Exports & Services Fund (Direct) | Zerodha Nifty 50 Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +17.43% | −9.31% |
| Standard deviation | 14.12% | 13.43% |
| Sharpe ratio | 0.81 | -1.08 |
| Sortino ratio | 1.09 | -1.45 |
| Maximum drawdown | −37.5% (23-03-2020) | −15.2% (30-03-2026) |
| Beta | 0.77 | 1.00 |
| Alpha | +6.17% | −0.29% |
From daily NAVs, 08-01-2013 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 Exports & Services Fund (Direct)
Zerodha Nifty 50 Index Fund (Direct)
BSE 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| ICICI Prudential Exports & Services Fund (Direct) | −13.7% | 02-01-2026 | 30-03-2026 | 03-08-2026 | 4 months | −6.7% |
| Zerodha Nifty 50 Index Fund (Direct) | −15.2% | 02-01-2026 | 30-03-2026 | Not yet | -- | −11.7% |
| BSE 500 TRI | −14.8% | 02-01-2026 | 30-03-2026 | Not yet | -- | −8.7% |
From daily values since 17-10-2025, 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.
ICICI Prudential Exports & Services Fund (Direct)
Zerodha Nifty 50 Index Fund (Direct)
BSE 500 TRI
Against BSE 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| ICICI Prudential Exports & Services Fund (Direct) | 95% | 78% | 3.81% |
| Zerodha Nifty 50 Index Fund (Direct) | 81% | 100% | 4.83% |
From month-end values since 17-10-2025. 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.
ICICI Prudential Exports & Services vs Zerodha Nifty 50 Index: Portfolio Overlap
From each fund's latest monthly portfolio: ICICI Prudential Exports & Services Fund, September 2026; Zerodha Nifty 50 Index Fund, September 2026
Holdings in common
- Overlap
- 42.0%
- Held by both
- 22
- Only in ICICI Prudential Exports & Services
- 38
- Only in Zerodha Nifty 50 Index
- 28
| Security | % of ICICI Prudential Exports & Services | % of Zerodha Nifty 50 Index |
|---|---|---|
| ICICI Bank Ltd. | 6.73% | 9.10% |
| HDFC Bank Ltd. | 4.68% | 10.44% |
| Reliance Industries Ltd. | 3.61% | 7.63% |
| Infosys Ltd. | 5.92% | 3.37% |
| State Bank Of India | 2.26% | 3.81% |
| Bharti Airtel Ltd. | 2.07% | 5.13% |
| Larsen & Toubro Ltd. | 2.06% | 4.23% |
| Sun Pharmaceutical Industries Ltd. | 2.44% | 1.85% |
| Kotak Mahindra Bank Ltd. | 1.70% | 2.95% |
| Axis Bank Ltd. | 1.69% | 3.39% |
| NTPC Ltd. | 1.82% | 1.47% |
| Mahindra & Mahindra Ltd. | 1.38% | 2.53% |
| Bajaj Finance Ltd. | 1.30% | 2.52% |
| HCL Technologies Ltd. | 1.27% | 1.25% |
| Interglobe Aviation Ltd. | 1.97% | 1.08% |
| Bajaj Finserv Ltd. | 1.52% | 0.97% |
| Tech Mahindra Ltd. | 1.32% | 0.93% |
| Adani Ports and Special Economic Zone Ltd. | 0.87% | 1.35% |
| Apollo Hospitals Enterprise Ltd. | 0.82% | 0.81% |
| SBI Life Insurance Company Ltd. | 1.39% | 0.73% |
| Dr. Reddy's Laboratories Ltd. | 0.63% | 0.72% |
| HDFC Life Insurance Company Ltd. | 0.90% | 0.54% |
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 ICICI Prudential Exports & Services Fund
| Security | % of fund |
|---|---|
| Angel One Ltd. | 2.71% |
| Shadowfax Technologies Ltd | 2.62% |
| 360 One Wam Ltd. | 2.58% |
| Prudent Corporate Advisory Services Ltd | 2.34% |
| Life Insurance Corporation of India | 2.14% |
Largest holdings only in Zerodha Nifty 50 Index Fund
| Security | % of fund |
|---|---|
| ITC Limited | 2.43% |
| Eternal Limited | 2.23% |
| Tata Consultancy Services Limited | 2.01% |
| Titan Company Limited | 1.82% |
| Hindustan Unilever Limited | 1.60% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | ICICI Prudential Exports & Services | Zerodha Nifty 50 Index |
|---|---|---|
| Equity | 95.1% | 100.6% |
| Debt | 0.0% | 0.0% |
| Cash and others | 4.9% | -0.6% |
Market cap of stocks
| Market cap | ICICI Prudential Exports & Services | Zerodha Nifty 50 Index |
|---|---|---|
| Large Cap | 54.8% | 99.2% |
| Mid Cap | 5.7% | 1.4% |
| Small Cap | 27.8% | 0.0% |
| Not on AMFI's list | 6.7% | 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 Exports & Services | Zerodha Nifty 50 Index |
|---|---|---|
| Banks | 17.1% | 29.7% |
| Capital Markets | 13.5% | 1.2% |
| It - Software | 8.5% | 0.0% |
| Petroleum Products | 3.6% | 7.6% |
| IT - Software | 0.0% | 7.6% |
| Automobiles | 2.7% | 6.7% |
| Pharmaceuticals & Biotechnology | 6.4% | 3.3% |
| Insurance | 6.0% | 1.3% |
| Finance | 2.8% | 5.5% |
| Telecom - Services | 2.1% | 5.1% |
| Transport Services | 4.6% | 1.1% |
The six largest sectors of each fund's stocks, % of the fund.
ICICI Prudential Exports & Services vs Zerodha Nifty 50 Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | ICICI Prudential Exports & Services Fund | Zerodha Nifty 50 Index Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.81% | 0.28% |
| Base expense ratio (Direct) | 1.38% | 0.10% |
| Total expense ratio (Regular) | 2.32% | Not available |
| Base expense ratio (Regular) | 1.82% | 0.00% |
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
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ICICI Prudential Exports & Services Fund vs Zerodha Nifty 50 Index Fund: Frequently Asked Questions
What is the difference between ICICI Prudential Exports & Services Fund and Zerodha Nifty 50 Index Fund?
ICICI Prudential Exports & Services Fund is a Thematic fund, Zerodha Nifty 50 Index Fund is an Index fund, run by ICICI Prudential Mutual Fund and Zerodha Mutual Fund. Their portfolios overlap 42.0%. ICICI Prudential Exports & Services Fund charges 1.81% a year and Zerodha Nifty 50 Index Fund 0.28%.
Which has given higher returns, ICICI Prudential Exports & Services Fund or Zerodha Nifty 50 Index Fund?
Over 1 year: ICICI Prudential Exports & Services Fund −3.64%, Zerodha Nifty 50 Index Fund −10.25%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, ICICI Prudential Exports & Services Fund or Zerodha Nifty 50 Index Fund?
Zerodha Nifty 50 Index Fund charges less: 0.28% a year against 1.81%. These are the Direct plans' total expense ratios reported to AMFI.
How much do ICICI Prudential Exports & Services Fund and Zerodha Nifty 50 Index Fund overlap?
42.0%. They hold 22 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, RELIANCE. From each fund's latest monthly portfolio.
Can I invest in both ICICI Prudential Exports & Services Fund and Zerodha Nifty 50 Index 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 ICICI Prudential Exports & Services Fund and Zerodha Nifty 50 Index Fund?
ICICI Prudential Exports & Services Fund: Sri Sharma, Sharmila D’mello. Zerodha Nifty 50 Index Fund: Kedarnath Mirajkar.
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.