ICICI Prudential Manufacturing Fund vs ICICI Prudential MNC Fund
Direct Plan, Growth option · Data as on 30-10-2026
ICICI Prudential Manufacturing Fund is a Thematic fund and ICICI Prudential MNC Fund is a Thematic fund. In the 3 years to 30-10-2026, ICICI Prudential Manufacturing Fund (Direct) returned 17.7% a year and ICICI Prudential MNC Fund (Direct) returned 9.8% a year. ICICI Prudential Manufacturing Fund charges 1.20% a year and ICICI Prudential MNC Fund 1.26% (Direct plans). Their portfolios overlap 29.8%: they hold 20 of the same securities.
ICICI Prudential Manufacturing Fund
Thematic
- 3 year return
- 17.7%
- Expense ratio
- 1.20%
- NAV
- ₹39.19
ICICI Prudential MNC Fund
Thematic
- 3 year return
- 9.8%
- Expense ratio
- 1.26%
- NAV
- ₹31.01
Which is better, ICICI Prudential Manufacturing or ICICI Prudential MNC? 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 Manufacturing returned more over 5 years: 17.1% a year against 10.0%.
- ICICI Prudential Manufacturing returned more over 3 years: 17.7% a year against 9.8%.
- ICICI Prudential Manufacturing costs less: 1.20% a year against 1.26% (Direct plans).
- ICICI Prudential MNC swung less over 3 years: a standard deviation of 11.5% a year against 15.8%.
- ICICI Prudential MNC fell less in its worst fall since 18-06-2019: −30.7% against −37.6%.
- ICICI Prudential Manufacturing is the larger fund: ₹6,918 Cr against ₹1,703 Cr.
- Their portfolios overlap 29.8%: 20 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 Manufacturing Fund | ICICI Prudential MNC Fund |
|---|---|---|
| Fund house | ICICI Prudential Mutual Fund | ICICI Prudential Mutual Fund |
| Category | Thematic | Thematic |
| AUM | ₹6,918 Cr (30-09-2026) | ₹1,703 Cr (30-09-2026) |
| NAV | ₹39.19 (Direct) | ₹31.01 (Direct) |
| Expense ratio (Direct) | 1.20% | 1.26% |
| Expense ratio (Regular) | 2.12% | 2.18% |
| Riskometer | Not available | Not available |
| Benchmark | Nifty India Manufacturing TRI | Nifty MNC TRI |
| Launch date | 11-10-2018 | 17-06-2019 |
| Minimum investment | ₹5,000 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Roshan Chutkey, Sharmila D’silva | Roshan Chutkey, Sharmila D’mello |
| Exit load | • 1% of applicable Net Asset Value - If the amount, sought to be redeemed or switch out within a period of one month from the date of allotment • Nil - If the amount, sought to be redeemed or switch out after a period of more than one month from the date of allotment | 1 % of applicable Net Asset Value If the amount sought to be redeemed or switch out within 1 month from allotment. Nil If the amount sought to be redeemed or switched out more than 1 month. |
ICICI Prudential Manufacturing vs ICICI Prudential MNC: 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 Manufacturing Fund (Direct) | −4.41% | −8.07% | −2.78% | −0.08% | +17.66% | +17.06% | -- |
| ICICI Prudential MNC Fund (Direct) | −3.64% | −7.71% | −2.97% | −1.93% | +9.81% | +10.02% | -- |
| 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 Manufacturing vs ICICI Prudential MNC: Year-wise Returns
| Year | ManufacturingICICI Prudential Manufacturing | MNCICICI Prudential MNC |
|---|---|---|
| 2026to date | +0.88% | −3.28% |
| 2025 | +10.43% | +6.51% |
| 2024 | +22.96% | +17.72% |
| 2023 | +48.55% | +28.04% |
| 2022 | +8.38% | +0.91% |
| 2021 | +46.50% | +42.89% |
ICICI Prudential Manufacturing vs ICICI Prudential MNC: Rolling Returns
Every holding period of both funds, against Nifty India Manufacturing TRI, the benchmark of ICICI Prudential Manufacturing Fund
Rolling returns
Every 3-year holding period, 1,074 of them, one for each trading day from 20-06-2022 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 Manufacturing Fund (Direct)
ICICI Prudential MNC Fund (Direct)
Nifty India Manufacturing TRI
to
Oct 2022Jul 2020
to
Jul 2023Apr 2021
to
Apr 2024Jan 2022
to
Jan 2025Oct 2022
to
Oct 2025Jun 2023
to
Jun 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 Manufacturing | 0.0 | 0.0 | 0.0 | 0.0 | 5.2 | 31.3 | 63.5 | 27.2% | 26.9% | 15.4% | 40.6% | 100% |
| ICICI Prudential MNC | 0.0 | 0.0 | 2.3 | 18.3 | 33.0 | 24.1 | 22.2 | 20.0% | 19.6% | 8.4% | 37.2% | 0% |
| Nifty India Manufacturing TRI | 0.0 | 0.0 | 0.0 | 0.4 | 21.7 | 64.8 | 13.1 | 22.2% | 22.5% | 14.9% | 28.5% | -- |
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 India Manufacturing 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 18-06-2019. Past returns do not promise future returns.
ICICI Prudential Manufacturing vs ICICI Prudential MNC: 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 03-06-2019 to 30-10-2026: 89 instalments, ₹8,90,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| ICICI Prudential ManufacturingICICI Prudential Manufacturing Fund (Direct) | ₹8,90,000 | ₹19,03,192 | ₹10,13,192 | 20.1% |
| ICICI Prudential MNCICICI Prudential MNC Fund (Direct) | ₹8,90,000 | ₹15,09,634 | ₹6,19,634 | 14.0% |
ICICI Prudential ManufacturingICICI Prudential Manufacturing Fund (Direct)
ICICI Prudential MNCICICI Prudential MNC 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 Manufacturing vs ICICI Prudential MNC: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | ICICI Prudential Manufacturing Fund (Direct) | ICICI Prudential MNC Fund (Direct) |
|---|---|---|
| Return (CAGR) | −0.08% | −1.93% |
| Standard deviation | 15.82% | 12.84% |
| Sharpe ratio | -0.34 | -0.56 |
| Sortino ratio | -0.45 | -0.74 |
| Maximum drawdown | −12.6% (23-10-2026) | −13.3% (23-10-2026) |
| Beta | 0.97 | 0.77 |
| Alpha | +1.39% | +0.35% |
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 Manufacturing Fund (Direct) | ICICI Prudential MNC Fund (Direct) |
|---|---|---|
| Return (CAGR) | +17.66% | +9.81% |
| Standard deviation | 15.83% | 11.47% |
| Sharpe ratio | 0.73 | 0.33 |
| Sortino ratio | 1.00 | 0.45 |
| Maximum drawdown | −22.8% (28-02-2025) | −19.5% (07-04-2025) |
| Beta | 0.96 | 0.75 |
| Alpha | +0.94% | +0.19% |
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 Manufacturing Fund (Direct) | ICICI Prudential MNC Fund (Direct) |
|---|---|---|
| Return (CAGR) | +17.06% | +10.02% |
| Standard deviation | 15.19% | 11.45% |
| Sharpe ratio | 0.74 | 0.37 |
| Sortino ratio | 1.01 | 0.50 |
| Maximum drawdown | −22.8% (28-02-2025) | −19.5% (07-04-2025) |
| Beta | 0.94 | 0.76 |
| Alpha | +3.25% | +1.25% |
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 Manufacturing Fund (Direct) | ICICI Prudential MNC Fund (Direct) |
|---|---|---|
| Return (CAGR) | +18.43% | +16.59% |
| Standard deviation | 16.85% | 13.36% |
| Sharpe ratio | 0.78 | 0.86 |
| Sortino ratio | 1.06 | 1.16 |
| Maximum drawdown | −37.6% (23-03-2020) | −30.7% (23-03-2020) |
| Beta | -- | 0.75 |
| Alpha | -- | +5.66% |
From daily NAVs, 12-10-2018 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 Manufacturing Fund (Direct)
ICICI Prudential MNC Fund (Direct)
Nifty India Manufacturing TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| ICICI Prudential Manufacturing Fund (Direct) | −37.6% | 17-01-2020 | 23-03-2020 | 17-11-2020 | 8 months | −11.0% |
| ICICI Prudential MNC Fund (Direct) | −30.7% | 24-01-2020 | 23-03-2020 | 05-08-2020 | 4 months | −10.6% |
| Nifty India Manufacturing TRI | −23.0% | 27-09-2024 | 07-04-2025 | 05-01-2026 | 9 months | −10.5% |
From daily values since 18-06-2019, 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 Manufacturing Fund (Direct)
ICICI Prudential MNC Fund (Direct)
Nifty India Manufacturing 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 Manufacturing Fund (Direct)
ICICI Prudential MNC Fund (Direct)
Nifty India Manufacturing TRI
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 Manufacturing Fund (Direct)
ICICI Prudential MNC Fund (Direct)
Nifty India Manufacturing TRI
Against Nifty India Manufacturing TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| ICICI Prudential Manufacturing Fund (Direct) | 103% | 90% | 4.67% |
| ICICI Prudential MNC Fund (Direct) | 73% | 74% | 6.29% |
From month-end values since 18-06-2019. 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 Manufacturing vs ICICI Prudential MNC: Portfolio Overlap
From each fund's latest monthly portfolio: ICICI Prudential Manufacturing Fund, September 2026; ICICI Prudential MNC Fund, September 2026
Holdings in common
- Overlap
- 29.8%
- Held by both
- 20
- Only in ICICI Prudential Manufacturing
- 50
- Only in ICICI Prudential MNC
- 29
| Security | % of ICICI Prudential Manufacturing | % of ICICI Prudential MNC |
|---|---|---|
| Dr. Reddy's Laboratories Ltd. | 4.67% | 3.95% |
| Sun Pharmaceutical Industries Ltd. | 3.91% | 4.08% |
| Maruti Suzuki India Ltd. | 3.91% | 6.23% |
| Hyundai Motor India Ltd. | 3.23% | 3.77% |
| Vedanta Aluminium Metal Ltd. | 2.43% | 3.84% |
| PI Industries Ltd. | 2.04% | 1.98% |
| Siemens Ltd. | 1.91% | 1.99% |
| Cummins India Ltd. | 2.65% | 1.32% |
| Gland Pharma Ltd. | 1.00% | 2.09% |
| Cipla Ltd. | 1.00% | 1.01% |
| Blue Jet Healthcare Ltd. | 0.98% | 1.05% |
| Triveni Turbine Ltd. | 0.95% | 1.88% |
| Honeywell Automation India Ltd. | 0.51% | 1.38% |
| SKF India Ltd. | 0.56% | 0.51% |
| Tata Motors Passenger Vehicles Ltd. | 0.51% | 1.02% |
| Orient Refractories Ltd. | 0.51% | 0.66% |
| Astrazeneca Pharma India Ltd. | 0.38% | 1.15% |
| UPL Ltd. | 0.87% | 0.29% |
| Kalpataru Projects International Ltd | 0.28% | 2.32% |
| Anthem Biosciences Ltd | 0.23% | 0.85% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 29.8% means 29.8% 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 Manufacturing Fund
| Security | % of fund |
|---|---|
| Reliance Industries Ltd. | 5.90% |
| Mahindra & Mahindra Ltd. | 5.16% |
| Larsen & Toubro Ltd. | 3.31% |
| JSW Steel Ltd. | 3.03% |
| Samvardhana Motherson International Ltd. | 2.99% |
Largest holdings only in ICICI Prudential MNC Fund
| Security | % of fund |
|---|---|
| Hindustan Unilever Ltd. | 7.09% |
| Sona Blw Precision Forgings Ltd. | 4.88% |
| Britannia Industries Ltd. | 4.83% |
| Nestle India Ltd. | 4.59% |
| United Spirits Ltd. | 3.03% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | ICICI Prudential Manufacturing | ICICI Prudential MNC |
|---|---|---|
| Equity | 97.0% | 96.6% |
| Debt | 0.2% | 0.0% |
| Cash and others | 2.9% | 3.4% |
Market cap of stocks
| Market cap | ICICI Prudential Manufacturing | ICICI Prudential MNC |
|---|---|---|
| Large Cap | 50.9% | 42.9% |
| Mid Cap | 21.7% | 22.2% |
| Small Cap | 23.5% | 30.8% |
| Foreign stocks | 0.0% | 0.7% |
| 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 Manufacturing | ICICI Prudential MNC |
|---|---|---|
| Pharmaceuticals & Biotechnology | 14.6% | 18.6% |
| Automobiles | 14.6% | 11.0% |
| Auto Components | 4.2% | 12.3% |
| Food Products | 0.3% | 9.4% |
| Industrial Products | 9.0% | 6.2% |
| Electrical Equipment | 8.5% | 4.8% |
| Diversified Fmcg | 0.0% | 7.1% |
| Cement & Cement Products | 7.0% | 0.0% |
| Petroleum Products | 5.9% | 1.0% |
The six largest sectors of each fund's stocks, % of the fund.
ICICI Prudential Manufacturing vs ICICI Prudential MNC: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | ICICI Prudential Manufacturing Fund | ICICI Prudential MNC Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.20% | 1.26% |
| Base expense ratio (Direct) | 0.74% | 0.99% |
| Total expense ratio (Regular) | 2.12% | 2.18% |
| Base expense ratio (Regular) | 1.55% | 1.80% |
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.
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ICICI Prudential Manufacturing Fund vs ICICI Prudential MNC Fund: Frequently Asked Questions
What is the difference between ICICI Prudential Manufacturing Fund and ICICI Prudential MNC Fund?
ICICI Prudential Manufacturing Fund is a Thematic fund, ICICI Prudential MNC Fund is a Thematic fund, run by ICICI Prudential Mutual Fund. Their portfolios overlap 29.8%. ICICI Prudential Manufacturing Fund charges 1.20% a year and ICICI Prudential MNC Fund 1.26%.
Which has given higher returns, ICICI Prudential Manufacturing Fund or ICICI Prudential MNC Fund?
Over 1 year: ICICI Prudential Manufacturing Fund −0.08%, ICICI Prudential MNC Fund −1.93%. Over 3 years: ICICI Prudential Manufacturing Fund +17.66% a year, ICICI Prudential MNC Fund +9.81% a year. Over 5 years: ICICI Prudential Manufacturing Fund +17.06% a year, ICICI Prudential MNC Fund +10.02% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, ICICI Prudential Manufacturing Fund or ICICI Prudential MNC Fund?
ICICI Prudential Manufacturing Fund charges less: 1.20% a year against 1.26%. These are the Direct plans' total expense ratios reported to AMFI.
How much do ICICI Prudential Manufacturing Fund and ICICI Prudential MNC Fund overlap?
29.8%. They hold 20 of the same securities, the largest shared ones being DRREDDY, SUNPHARMA, MARUTI. From each fund's latest monthly portfolio.
Which is better for SIP, ICICI Prudential Manufacturing Fund or ICICI Prudential MNC Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹9,07,368 in ICICI Prudential Manufacturing Fund (XIRR 15.6% a year) and ₹7,61,644 in ICICI Prudential MNC Fund (XIRR 8.7% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both ICICI Prudential Manufacturing Fund and ICICI Prudential MNC Fund?
Yes. 29.8% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages ICICI Prudential Manufacturing Fund and ICICI Prudential MNC Fund?
ICICI Prudential Manufacturing Fund: Roshan Chutkey, Sharmila D’silva. ICICI Prudential MNC Fund: Roshan Chutkey, Sharmila D’mello.
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.