ICICI Prudential Liquid Fund vs Shriram Liquid Fund
Direct Plan, Growth option · Data as on 30-10-2026
ICICI Prudential Liquid Fund and Shriram Liquid Fund are both Liquid funds. In the year to 30-10-2026, ICICI Prudential Liquid Fund (Direct) returned 6.4% and Shriram Liquid Fund (Direct) returned 6.3%. ICICI Prudential Liquid Fund charges 0.20% a year and Shriram Liquid Fund 0.16% (Direct plans). Their portfolios overlap 16.7%: they hold 10 of the same securities.
ICICI Prudential Liquid Fund
Liquid
- 1 year return
- 6.4%
- Expense ratio
- 0.20%
- NAV
- ₹423.38
Which is better, ICICI Prudential Liquid or Shriram Liquid? 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 Liquid returned more over 1 year: 6.4% against 6.3%.
- Shriram Liquid costs less: 0.16% a year against 0.20% (Direct plans).
- Shriram Liquid fell less in its worst fall since 20-11-2024: −0.0% against −0.0%.
- ICICI Prudential Liquid is the larger fund: ₹55,340 Cr against ₹547 Cr.
- Their portfolios overlap 16.7%: 10 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 Liquid Fund | Shriram Liquid Fund |
|---|---|---|
| Fund house | ICICI Prudential Mutual Fund | Shriram Mutual Fund |
| Category | Liquid | Liquid |
| AUM | ₹55,340 Cr (30-09-2026) | ₹547 Cr (30-09-2026) |
| NAV | ₹423.38 (Direct) | ₹1,129.60 (Direct) |
| Expense ratio (Direct) | 0.20% | 0.16% |
| Expense ratio (Regular) | 0.30% | 0.29% |
| Riskometer | Not available | Low to Moderate |
| Benchmark | CRISIL Liquid Debt A-I Index | NIFTY Liquid Index A-I |
| Launch date | 17-11-2005 | 14-11-2024 |
| Minimum investment | ₹99 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Rohan Maru, Darshil Dedhia, Nikhil Kabra | Amit Modani |
| Exit load | Exit load of 0.0070% if redeemed within 1 day, 0.0065% if redeemed within 2 days, 0.0060% if redeemed within 3 days, 0.0055% if redeemed within 4 days, 0.0050% if redeemed within 5 days, 0.0045% if redeemed within 6 days. | Exit load of 0.0070% if redeemed within 1 day, 0.0065% if redeemed within 2 days, 0.0060% if redeemed within 3 days, 0.0055% if redeemed within 4 days, 0.0050% if redeemed within 5 days, 0.0045% if redeemed within 6 days. |
ICICI Prudential Liquid vs Shriram Liquid: 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 Liquid Fund (Direct) | +0.45% | +1.50% | +3.17% | +6.43% | +6.89% | +6.39% | +6.10% |
| Shriram Liquid Fund (Direct) | +0.45% | +1.48% | +3.13% | +6.31% | -- | -- | -- |
| Liquid average | +0.44% | +1.46% | +3.06% | +6.23% | -- | -- | -- |
Category average: the average of the 44 Liquid funds, same plan type.
ICICI Prudential Liquid vs Shriram Liquid: Year-wise Returns
| Year | ICICI PrudentialICICI Prudential Liquid | ShriramShriram Liquid |
|---|---|---|
| 2026to date | +5.37% | +5.28% |
| 2025 | +6.58% | +6.26% |
| 2024 | +7.45% | -- |
| 2023 | +7.08% | -- |
| 2022 | +4.85% | -- |
| 2021 | +3.35% | -- |
ICICI Prudential Liquid vs Shriram Liquid: Rolling Returns
Every holding period of both funds
Rolling returns
Every 1-year holding period, 340 of them, one for each trading day from 20-11-2025 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.
ICICI Prudential Liquid Fund (Direct)
Shriram Liquid Fund (Direct)
to
Dec 2025Feb 2025
to
Feb 2026Apr 2025
to
Apr 2026Jun 2025
to
Jun 2026Aug 2025
to
Aug 2026Oct 2025
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ICICI Prudential Liquid | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 6.4% | 6.4% | 6.2% | 6.7% |
| Shriram Liquid | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 6.2% | 6.2% | 5.9% | 6.4% |
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 20-11-2024. Past returns do not promise future returns.
ICICI Prudential Liquid vs Shriram Liquid: 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 01-11-2024 to 30-10-2026: 24 instalments, ₹2,40,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| ICICI Prudential LiquidICICI Prudential Liquid Fund (Direct) | ₹2,40,000 | ₹2,56,218 | ₹16,218 | 6.4% |
| Shriram LiquidShriram Liquid Fund (Direct) | ₹2,40,000 | ₹2,55,765 | ₹15,765 | 6.3% |
ICICI Prudential LiquidICICI Prudential Liquid Fund (Direct)
Shriram LiquidShriram Liquid 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 Liquid vs Shriram Liquid: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | ICICI Prudential Liquid Fund (Direct) | Shriram Liquid Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.43% | +6.31% |
| Standard deviation | 0.19% | 0.19% |
| Sharpe ratio | 6.31 | 5.45 |
| Sortino ratio | 18.99 | 16.25 |
| Maximum drawdown | −0.0% (22-10-2026) | −0.0% (25-09-2026) |
| 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 Liquid Fund (Direct) | Shriram Liquid Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.83% | +6.36% |
| Standard deviation | 0.21% | 0.15% |
| Sharpe ratio | 3.67 | 5.03 |
| Sortino ratio | 7.97 | 14.24 |
| Maximum drawdown | −0.2% (16-07-2013) | −0.0% (25-09-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 01-01-2013 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 Liquid Fund (Direct)
Shriram Liquid Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| ICICI Prudential Liquid Fund (Direct) | −0.0% | 20-10-2026 | 22-10-2026 | 25-10-2026 | 3 days | 0.0% |
| Shriram Liquid Fund (Direct) | −0.0% | 24-09-2026 | 25-09-2026 | 26-09-2026 | 1 days | 0.0% |
From daily values since 20-11-2024, 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.
ICICI Prudential Liquid Fund (Direct)
Shriram Liquid Fund (Direct)
ICICI Prudential Liquid vs Shriram Liquid: Portfolio Overlap
From each fund's latest monthly portfolio: ICICI Prudential Liquid Fund, September 2026; Shriram Liquid Fund, September 2026
Holdings in common
- Overlap
- 16.7%
- Held by both
- 10
- Only in ICICI Prudential Liquid
- 130
- Only in Shriram Liquid
- 12
| Security | % of ICICI Prudential Liquid | % of Shriram Liquid |
|---|---|---|
| 91 Days Treasury Bills | 6.77% | 4.52% |
| 91 Days Treasury Bills | 4.14% | 4.53% |
| 91 Days Treasury Bills | 2.41% | 4.74% |
| NABARD | 1.79% | 4.53% |
| Export-Import Bank Of India | 1.35% | 9.09% |
| HDFC Bank Ltd. | 1.35% | 4.54% |
| Bank Of Baroda | 0.90% | 4.54% |
| LIC Housing Finance Ltd. | 0.14% | 0.96% |
| Corporate Debt Market Development Fund (Class A2) | 0.28% | 0.08% |
| Indian Bank | 0.04% | 4.52% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 16.7% means 16.7% 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 Liquid Fund
| Security | % of fund |
|---|---|
| NABARD | 3.57% |
| HDFC Bank Ltd. | 2.68% |
| Small Industries Development Bank Of India. | 2.25% |
| Reliance Retail Ventures Ltd | 2.15% |
| Union Bank Of India | 2.03% |
Largest holdings only in Shriram Liquid Fund
| Security | % of fund |
|---|---|
| BAJAJ FINANCE LTD CP 18-11-26 | 4.53% |
| AXIS BANK LTD CD RED 26-11-2026 | 4.53% |
| LIC HSG FIN CP RED 26-11-2026 | 4.53% |
| 91 DAYS TBILL RED 03-12-2026 | 4.53% |
| HINDUSTAN PETRO CORP CP 02-12-26 | 4.52% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | ICICI Prudential Liquid | Shriram Liquid |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 106.5% | 96.2% |
| Cash and others | -6.5% | 3.8% |
ICICI Prudential Liquid vs Shriram Liquid: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | ICICI Prudential Liquid Fund | Shriram Liquid Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.20% | 0.16% |
| Base expense ratio (Direct) | 0.17% | 0.13% |
| Total expense ratio (Regular) | 0.30% | 0.29% |
| Base expense ratio (Regular) | 0.25% | 0.24% |
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 Liquid with
ICICI Prudential Liquid Fund vs Shriram Liquid Fund: Frequently Asked Questions
What is the difference between ICICI Prudential Liquid Fund and Shriram Liquid Fund?
Both are Liquid funds, run by ICICI Prudential Mutual Fund and Shriram Mutual Fund. Their portfolios overlap 16.7%. ICICI Prudential Liquid Fund charges 0.20% a year and Shriram Liquid Fund 0.16%.
Which has given higher returns, ICICI Prudential Liquid Fund or Shriram Liquid Fund?
Over 1 year: ICICI Prudential Liquid Fund +6.43%, Shriram Liquid Fund +6.31%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, ICICI Prudential Liquid Fund or Shriram Liquid Fund?
Shriram Liquid Fund charges less: 0.16% a year against 0.20%. These are the Direct plans' total expense ratios reported to AMFI.
How much do ICICI Prudential Liquid Fund and Shriram Liquid Fund overlap?
16.7%. They hold 10 of the same securities, the largest shared ones being 91 Days Treasury Bills, 91 Days Treasury Bills, 91 Days Treasury Bills. From each fund's latest monthly portfolio.
Can I invest in both ICICI Prudential Liquid Fund and Shriram Liquid Fund?
Yes. 16.7% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages ICICI Prudential Liquid Fund and Shriram Liquid Fund?
ICICI Prudential Liquid Fund: Rohan Maru, Darshil Dedhia, Nikhil Kabra. Shriram Liquid Fund: Amit Modani.
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.