ICICI Prudential Innovation Fund vs Nippon India Vision Large & Mid Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
ICICI Prudential Innovation Fund is a Thematic fund and Nippon India Vision Large & Mid Cap Fund is a Large & Mid Cap fund. In the 3 years to 30-10-2026, ICICI Prudential Innovation Fund (Direct) returned 18.0% a year and Nippon India Vision Large & Mid Cap Fund (Direct) returned 13.4% a year. ICICI Prudential Innovation Fund charges 1.24% a year and Nippon India Vision Large & Mid Cap Fund 1.50% (Direct plans). Their portfolios overlap 28.9%: they hold 28 of the same securities.
ICICI Prudential Innovation Fund
Thematic
- 3 year return
- 18.0%
- Expense ratio
- 1.24%
- NAV
- ₹19.09
Nippon India Vision Large & Mid Cap Fund
Large & Mid Cap
- 3 year return
- 13.4%
- Expense ratio
- 1.50%
- NAV
- ₹1,506.69
Which is better, ICICI Prudential Innovation or Nippon India Vision Large & Mid Cap? 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 Innovation returned more over 3 years: 18.0% a year against 13.4%.
- ICICI Prudential Innovation returned more over 1 year: −3.6% against −7.3%.
- ICICI Prudential Innovation costs less: 1.24% a year against 1.50% (Direct plans).
- ICICI Prudential Innovation swung less over 3 years: a standard deviation of 12.6% a year against 14.7%.
- ICICI Prudential Innovation fell less in its worst fall since 02-05-2023: −16.5% against −16.8%.
- Nippon India Vision Large & Mid Cap holds more in large companies: 55.1% of the fund in large caps against 34.4%.
- ICICI Prudential Innovation is the larger fund: ₹7,549 Cr against ₹7,411 Cr.
- Their portfolios overlap 28.9%: 28 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 Innovation Fund | Nippon India Vision Large & Mid Cap Fund |
|---|---|---|
| Fund house | ICICI Prudential Mutual Fund | Nippon India Mutual Fund |
| Category | Thematic | Large & Mid Cap |
| AUM | ₹7,549 Cr (30-09-2026) | ₹7,411 Cr (30-09-2026) |
| NAV | ₹19.09 (Direct) | ₹1,506.69 (Direct) |
| Expense ratio (Direct) | 1.24% | 1.50% |
| Expense ratio (Regular) | 2.18% | 2.22% |
| Riskometer | Not available | Very High |
| Benchmark | Nifty 500 TRI | Nifty LargeMidcap 250 TRI |
| Launch date | 28-04-2023 | 08-10-1995 |
| Minimum investment | ₹5,000 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Vaibhav Dusad | Aishwarya Agarwal |
| Exit load | Exit load of 1%, if redeemed within 1 month. | For units more than 10% of the investments, an exit load of 1% if redeemed within 12 months. |
ICICI Prudential Innovation vs Nippon India Vision Large & Mid Cap: 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 Innovation Fund (Direct) | −1.60% | −5.59% | +1.92% | −3.63% | +17.96% | -- | -- |
| Nippon India Vision Large & Mid Cap Fund (Direct) | −1.87% | −7.45% | −3.60% | −7.32% | +13.44% | +11.47% | +12.25% |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | +13.76% | -- | -- |
| Large & Mid Cap average | −1.78% | −5.20% | −0.43% | −3.99% | +13.28% | +11.36% | +13.62% |
Category average: the average of the 235 Thematic funds and the 36 Large & Mid Cap funds, same plan type.
ICICI Prudential Innovation vs Nippon India Vision Large & Mid Cap: Year-wise Returns
| Year | ICICI Prudential InnovationICICI Prudential Innovation | Nippon India Vision Large & Mid CapNippon India Vision Large & Mid Cap |
|---|---|---|
| 2026to date | −3.97% | −6.95% |
| 2025 | +12.00% | +6.16% |
| 2024 | +30.13% | +26.28% |
| 2023 | -- | +34.93% |
| 2022 | -- | +2.94% |
| 2021 | -- | +34.43% |
ICICI Prudential Innovation vs Nippon India Vision Large & Mid Cap: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of ICICI Prudential Innovation Fund
Rolling returns
Every 3-year holding period, 123 of them, one for each trading day from 04-05-2026 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.
ICICI Prudential Innovation Fund (Direct)
Nippon India Vision Large & Mid Cap Fund (Direct)
Nifty 500 TRI
to
May 2026Jun 2023
to
Jun 2026Jul 2023
to
Jul 2026Aug 2023
to
Aug 2026Sept 2023
to
Sept 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 Innovation | 0.0 | 0.0 | 0.0 | 0.0 | 33.3 | 66.7 | 0.0 | 20.7% | 21.0% | 16.9% | 24.1% | 100% |
| Nippon India Vision Large & Mid Cap | 0.0 | 0.0 | 0.0 | 28.5 | 68.3 | 3.3 | 0.0 | 16.6% | 17.3% | 12.4% | 20.9% | 100% |
| Nifty 500 TRI | 0.0 | 0.0 | 15.4 | 80.5 | 4.1 | 0.0 | 0.0 | 12.3% | 12.8% | 8.8% | 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 500 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 02-05-2023. Past returns do not promise future returns.
ICICI Prudential Innovation vs Nippon India Vision Large & Mid Cap: 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 02-05-2023 to 30-10-2026: 42 instalments, ₹4,20,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| ICICI Prudential InnovationICICI Prudential Innovation Fund (Direct) | ₹4,20,000 | ₹4,99,772 | ₹79,772 | 9.9% |
| Nippon India Vision Large & Mid CapNippon India Vision Large & Mid Cap Fund (Direct) | ₹4,20,000 | ₹4,62,314 | ₹42,314 | 5.4% |
ICICI Prudential InnovationICICI Prudential Innovation Fund (Direct)
Nippon India Vision Large & Mid CapNippon India Vision Large & Mid Cap 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 Innovation vs Nippon India Vision Large & Mid Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | ICICI Prudential Innovation Fund (Direct) | Nippon India Vision Large & Mid Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −3.63% | −7.32% |
| Standard deviation | 13.49% | 14.70% |
| Sharpe ratio | -0.66 | -0.85 |
| Sortino ratio | -0.88 | -1.13 |
| Maximum drawdown | −15.5% (30-03-2026) | −13.5% (31-03-2026) |
| Beta | 0.88 | 0.97 |
| Alpha | +2.21% | −1.15% |
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 Innovation Fund (Direct) | Nippon India Vision Large & Mid Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +17.96% | +13.44% |
| Standard deviation | 12.62% | 14.68% |
| Sharpe ratio | 0.95 | 0.51 |
| Sortino ratio | 1.31 | 0.69 |
| Maximum drawdown | −16.5% (28-02-2025) | −16.8% (28-02-2025) |
| Beta | 0.83 | 0.97 |
| Alpha | +8.45% | +2.07% |
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 Innovation Fund (Direct) | Nippon India Vision Large & Mid Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +20.18% | +13.11% |
| Standard deviation | 12.02% | 16.93% |
| Sharpe ratio | 1.17 | 0.42 |
| Sortino ratio | 1.63 | 0.57 |
| Maximum drawdown | −16.5% (28-02-2025) | −45.0% (23-03-2020) |
| Beta | 0.83 | -- |
| Alpha | +9.25% | -- |
From daily NAVs, 02-05-2023 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.
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 Innovation Fund (Direct)
Nippon India Vision Large & Mid Cap Fund (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| ICICI Prudential Innovation Fund (Direct) | −16.5% | 27-09-2024 | 28-02-2025 | 20-08-2025 | 6 months | −7.5% |
| Nippon India Vision Large & Mid Cap Fund (Direct) | −16.8% | 24-09-2024 | 28-02-2025 | 16-09-2025 | 7 months | −9.2% |
| Nifty 500 TRI | −18.6% | 26-09-2024 | 28-02-2025 | Not yet | -- | −8.8% |
From daily values since 02-05-2023, 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 Innovation Fund (Direct)
Nippon India Vision Large & Mid Cap Fund (Direct)
Nifty 500 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 Innovation Fund (Direct)
Nippon India Vision Large & Mid Cap Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| ICICI Prudential Innovation Fund (Direct) | 118% | 79% | 4.50% |
| Nippon India Vision Large & Mid Cap Fund (Direct) | 111% | 98% | 2.83% |
From month-end values since 02-05-2023. 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 Innovation vs Nippon India Vision Large & Mid Cap: Portfolio Overlap
From each fund's latest monthly portfolio: ICICI Prudential Innovation Fund, September 2026; Nippon India Vision Large & Mid Cap Fund, September 2026
Holdings in common
- Overlap
- 28.9%
- Held by both
- 28
- Only in ICICI Prudential Innovation
- 53
- Only in Nippon India Vision Large & Mid Cap
- 60
| Security | % of ICICI Prudential Innovation | % of Nippon India Vision Large & Mid Cap |
|---|---|---|
| ICICI Bank Ltd. | 4.73% | 4.72% |
| Eternal Ltd. | 3.97% | 3.89% |
| Axis Bank Ltd. | 2.88% | 2.98% |
| Cummins India Ltd. | 2.38% | 1.61% |
| TVS Motor Company Ltd. | 2.11% | 1.11% |
| Biocon Ltd. | 1.09% | 1.19% |
| Sun Pharmaceutical Industries Ltd. | 1.19% | 1.06% |
| Blue Star Ltd. | 1.57% | 1.02% |
| Bharti Hexacom Ltd. | 2.72% | 1.01% |
| Mphasis Ltd. | 0.96% | 1.16% |
| Hyundai Motor India Ltd. | 0.94% | 1.29% |
| CG Power and Industrial Solutions Ltd. | 0.84% | 1.04% |
| COFORGE Ltd. | 0.81% | 2.36% |
| Larsen & Toubro Ltd. | 1.22% | 0.81% |
| Fortis Healthcare Ltd. | 0.79% | 1.37% |
| Oil & Natural Gas Corporation Ltd. | 0.61% | 1.22% |
| Info Edge (India) Ltd. | 1.20% | 0.60% |
| Bharat Electronics Ltd. | 0.86% | 0.53% |
| Mahindra & Mahindra Ltd. | 0.86% | 0.52% |
| Divi's Laboratories Ltd. | 1.92% | 0.50% |
| Bharti Airtel Ltd. | 1.53% | 0.47% |
| Ge Vernova T&D India Ltd. | 1.33% | 0.37% |
| LG Electronics Inc | 1.00% | 0.35% |
| Godrej Consumer Products Ltd. | 0.68% | 0.34% |
| PB Fintech Ltd. | 0.56% | 0.34% |
| Hindustan Aeronautics Ltd. | 1.66% | 0.31% |
| KEI Industries Ltd. | 0.23% | 1.55% |
| Max Financial Services Ltd. | 1.67% | 0.16% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 28.9% means 28.9% 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 Innovation Fund
| Security | % of fund |
|---|---|
| Sagility India Ltd | 2.29% |
| Maruti Suzuki India Ltd. | 2.25% |
| Swiggy Ltd | 2.25% |
| Capillary Technologies India Ltd. | 2.18% |
| Dr. Reddy's Laboratories Ltd. | 2.11% |
Largest holdings only in Nippon India Vision Large & Mid Cap Fund
| Security | % of fund |
|---|---|
| State Bank of India | 4.22% |
| HDFC Bank Limited | 2.87% |
| One 97 Communications Limited | 2.23% |
| FSN E-Commerce Ventures Limited | 2.23% |
| Dixon Technologies (India) Limited | 2.21% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | ICICI Prudential Innovation | Nippon India Vision Large & Mid Cap |
|---|---|---|
| Equity | 94.8% | 95.6% |
| Debt | 0.7% | 0.0% |
| Cash and others | 4.5% | 4.4% |
Market cap of stocks
| Market cap | ICICI Prudential Innovation | Nippon India Vision Large & Mid Cap |
|---|---|---|
| Large Cap | 34.4% | 55.1% |
| Mid Cap | 28.1% | 39.2% |
| Small Cap | 31.4% | 1.3% |
| Not on AMFI's list | 0.9% | 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 Innovation | Nippon India Vision Large & Mid Cap |
|---|---|---|
| Banks | 8.2% | 17.6% |
| Retailing | 10.8% | 8.5% |
| Healthcare Services | 8.4% | 1.7% |
| Pharmaceuticals & Biotechnology | 7.9% | 6.9% |
| It - Software | 7.5% | 0.0% |
| Automobiles | 7.4% | 4.4% |
| Consumer Durables | 3.3% | 6.1% |
| Electrical Equipment | 3.4% | 4.5% |
The six largest sectors of each fund's stocks, % of the fund.
ICICI Prudential Innovation vs Nippon India Vision Large & Mid Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | ICICI Prudential Innovation Fund | Nippon India Vision Large & Mid Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.24% | 1.50% |
| Base expense ratio (Direct) | 0.71% | 0.91% |
| Total expense ratio (Regular) | 2.18% | 2.22% |
| Base expense ratio (Regular) | 1.54% | 1.54% |
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 Innovation with
Compare Nippon India Vision Large & Mid Cap with
- Nippon India Vision Large & Mid Cap vs Invesco India Large & Mid Cap
- Nippon India Vision Large & Mid Cap vs Motilal Oswal Large and Midcap
- Nippon India Vision Large & Mid Cap vs HSBC Large & Mid Cap
- Nippon India Vision Large & Mid Cap vs Bandhan Large & Mid Cap
- Nippon India Vision Large & Mid Cap vs Quant Large & Mid Cap
ICICI Prudential Innovation Fund vs Nippon India Vision Large & Mid Cap Fund: Frequently Asked Questions
What is the difference between ICICI Prudential Innovation Fund and Nippon India Vision Large & Mid Cap Fund?
ICICI Prudential Innovation Fund is a Thematic fund, Nippon India Vision Large & Mid Cap Fund is a Large & Mid Cap fund, run by ICICI Prudential Mutual Fund and Nippon India Mutual Fund. Their portfolios overlap 28.9%. ICICI Prudential Innovation Fund charges 1.24% a year and Nippon India Vision Large & Mid Cap Fund 1.50%.
Which has given higher returns, ICICI Prudential Innovation Fund or Nippon India Vision Large & Mid Cap Fund?
Over 1 year: ICICI Prudential Innovation Fund −3.63%, Nippon India Vision Large & Mid Cap Fund −7.32%. Over 3 years: ICICI Prudential Innovation Fund +17.96% a year, Nippon India Vision Large & Mid Cap Fund +13.44% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, ICICI Prudential Innovation Fund or Nippon India Vision Large & Mid Cap Fund?
ICICI Prudential Innovation Fund charges less: 1.24% a year against 1.50%. These are the Direct plans' total expense ratios reported to AMFI.
How much do ICICI Prudential Innovation Fund and Nippon India Vision Large & Mid Cap Fund overlap?
28.9%. They hold 28 of the same securities, the largest shared ones being ICICIBANK, ETERNAL, AXISBANK. From each fund's latest monthly portfolio.
Which is better for SIP, ICICI Prudential Innovation Fund or Nippon India Vision Large & Mid Cap Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹4,12,099 in ICICI Prudential Innovation Fund (XIRR 7.0% a year) and ₹3,85,568 in Nippon India Vision Large & Mid Cap Fund (XIRR 2.6% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both ICICI Prudential Innovation Fund and Nippon India Vision Large & Mid Cap Fund?
Yes. 28.9% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages ICICI Prudential Innovation Fund and Nippon India Vision Large & Mid Cap Fund?
ICICI Prudential Innovation Fund: Vaibhav Dusad. Nippon India Vision Large & Mid Cap Fund: Aishwarya Agarwal.
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.