ICICI Prudential Medium to Long Term Fund vs Nippon India Gilt Fund
Direct Plan, Growth option · Data as on 30-10-2026
ICICI Prudential Medium to Long Term Fund is a Medium to Long Duration fund and Nippon India Gilt Fund is a Gilt fund. In the 3 years to 30-10-2026, ICICI Prudential Medium to Long Term Fund (Direct) returned 6.7% a year and Nippon India Gilt Fund (Direct) returned 6.2% a year. ICICI Prudential Medium to Long Term Fund charges 0.59% a year and Nippon India Gilt Fund 0.52% (Direct plans). Their portfolios overlap 18.7%: they hold 5 of the same securities.
ICICI Prudential Medium to Long Term Fund
Medium to Long Duration
- 3 year return
- 6.7%
- Expense ratio
- 0.59%
- NAV
- ₹44.31
Which is better, ICICI Prudential Medium to Long Term or Nippon India 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 Medium to Long Term returned more over 5 years: 6.1% a year against 5.4%.
- ICICI Prudential Medium to Long Term returned more over 3 years: 6.7% a year against 6.2%.
- Nippon India Gilt costs less: 0.52% a year against 0.59% (Direct plans).
- ICICI Prudential Medium to Long Term swung less over 3 years: a standard deviation of 2.0% a year against 3.0%.
- ICICI Prudential Medium to Long Term fell less in its worst fall since 03-01-2013: −10.2% against −11.8%.
- ICICI Prudential Medium to Long Term is the larger fund: ₹2,019 Cr against ₹1,487 Cr.
- Their portfolios overlap 18.7%: 5 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 Medium to Long Term Fund | Nippon India Gilt Fund |
|---|---|---|
| Fund house | ICICI Prudential Mutual Fund | Nippon India Mutual Fund |
| Category | Medium to Long Duration | Gilt |
| AUM | ₹2,019 Cr (30-09-2026) | ₹1,487 Cr (30-09-2026) |
| NAV | ₹44.31 (Direct) | ₹43.95 (Direct) |
| Expense ratio (Direct) | 0.59% | 0.52% |
| Expense ratio (Regular) | 1.00% | 1.21% |
| Riskometer | Not available | Moderate |
| Benchmark | CRISIL Medium to Long Duration Debt A-III Index | Nifty All Duration G-Sec Index |
| Launch date | 18-08-2008 | 22-08-2008 |
| Minimum investment | ₹5,000 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Manish Banthia, Ritesh Lunawat | Pranay Sinha |
| Exit load | Nil | Nil |
ICICI Prudential Medium to Long Term vs Nippon India 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 Medium to Long Term Fund (Direct) | −0.92% | −1.40% | +1.42% | +2.69% | +6.67% | +6.06% | +6.91% |
| Nippon India Gilt Fund (Direct) | −0.64% | −0.96% | +2.08% | +2.49% | +6.20% | +5.44% | +7.15% |
| Medium to Long Duration average | −0.59% | −0.88% | +1.83% | +2.86% | +6.52% | +5.71% | +6.19% |
| Gilt average | −0.69% | −1.34% | +1.62% | +2.12% | +6.19% | +5.46% | +6.64% |
Category average: the average of the 13 Medium to Long Duration funds and the 28 Gilt funds, same plan type.
ICICI Prudential Medium to Long Term vs Nippon India Gilt: Year-wise Returns
| Year | ICICI Prudential Medium to Long TermICICI Prudential Medium to Long Term | Nippon India GiltNippon India Gilt |
|---|---|---|
| 2026to date | +1.86% | +1.99% |
| 2025 | +7.11% | +4.51% |
| 2024 | +9.00% | +9.76% |
| 2023 | +8.14% | +7.61% |
| 2022 | +3.74% | +3.04% |
| 2021 | +3.52% | +2.79% |
ICICI Prudential Medium to Long Term vs Nippon India 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 Medium to Long Term Fund (Direct)
Nippon India 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 Medium to Long Term | 0.0 | 1.9 | 85.6 | 12.5 | 0.0 | 0.0 | 0.0 | 8.1% | 7.9% | 4.7% | 13.1% |
| Nippon India Gilt | 0.0 | 6.7 | 57.4 | 33.8 | 2.0 | 0.0 | 0.0 | 9.0% | 9.2% | 3.9% | 16.5% |
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. Every fund is measured over the days all of them have, from 03-01-2013. Past returns do not promise future returns.
ICICI Prudential Medium to Long Term vs Nippon India 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 Medium to Long TermICICI Prudential Medium to Long Term Fund (Direct) | ₹16,60,000 | ₹27,91,766 | ₹11,31,766 | 7.2% |
| Nippon India GiltNippon India Gilt Fund (Direct) | ₹16,60,000 | ₹28,48,937 | ₹11,88,937 | 7.4% |
ICICI Prudential Medium to Long TermICICI Prudential Medium to Long Term Fund (Direct)
Nippon India GiltNippon India 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 Medium to Long Term vs Nippon India Gilt: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | ICICI Prudential Medium to Long Term Fund (Direct) | Nippon India Gilt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +2.69% | +2.49% |
| Standard deviation | 2.38% | 3.44% |
| Sharpe ratio | -1.07 | -0.80 |
| Sortino ratio | -1.41 | -1.10 |
| Maximum drawdown | −2.4% (27-10-2026) | −2.5% (02-04-2026) |
| 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 Medium to Long Term Fund (Direct) | Nippon India Gilt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.67% | +6.20% |
| Standard deviation | 1.96% | 2.98% |
| Sharpe ratio | 0.33 | 0.06 |
| Sortino ratio | 0.45 | 0.08 |
| Maximum drawdown | −2.4% (27-10-2026) | −3.7% (26-08-2025) |
| 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 Medium to Long Term Fund (Direct) | Nippon India Gilt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.06% | +5.44% |
| Standard deviation | 2.01% | 2.65% |
| Sharpe ratio | 0.13 | -0.13 |
| Sortino ratio | 0.17 | -0.19 |
| Maximum drawdown | −2.4% (27-10-2026) | −3.7% (26-08-2025) |
| 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 Medium to Long Term Fund (Direct) | Nippon India Gilt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.71% | +8.41% |
| Standard deviation | 3.07% | 4.06% |
| Sharpe ratio | 0.54 | 0.58 |
| Sortino ratio | 0.76 | 0.83 |
| Maximum drawdown | −10.2% (19-08-2013) | −11.8% (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 Medium to Long Term Fund (Direct)
Nippon India Gilt Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| ICICI Prudential Medium to Long Term Fund (Direct) | −10.2% | 27-05-2013 | 19-08-2013 | 30-04-2014 | 8 months | −2.1% |
| Nippon India Gilt Fund (Direct) | −11.8% | 04-06-2013 | 19-08-2013 | 29-05-2014 | 9 months | −2.1% |
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 Medium to Long Term Fund (Direct)
Nippon India 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 Medium to Long Term Fund (Direct)
Nippon India 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 Medium to Long Term Fund (Direct)
Nippon India Gilt Fund (Direct)
ICICI Prudential Medium to Long Term vs Nippon India Gilt: Portfolio Overlap
From each fund's latest monthly portfolio: ICICI Prudential Medium to Long Term Fund, September 2026; Nippon India Gilt Fund, September 2026
Holdings in common
- Overlap
- 18.7%
- Held by both
- 5
- Only in ICICI Prudential Medium to Long Term
- 44
- Only in Nippon India Gilt
- 37
| Security | % of ICICI Prudential Medium to Long Term | % of Nippon India Gilt |
|---|---|---|
| Government Securities | 8.99% | 9.15% |
| Government Securities | 6.58% | 5.43% |
| Government Securities | 3.65% | 2.65% |
| Government Securities | 1.43% | 3.35% |
| Government Securities | 0.17% | 0.96% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 18.7% means 18.7% 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 Medium to Long Term Fund
| Security | % of fund |
|---|---|
| Summit Digitel Infrastructure Private Ltd. | 5.76% |
| Pipeline Infrastructure Pvt Ltd. | 3.68% |
| State Government of Maharashtra | 3.41% |
| State Government of Maharashtra | 3.40% |
| State Government of Maharashtra | 3.31% |
Largest holdings only in Nippon India Gilt Fund
| Security | % of fund |
|---|---|
| 364 Days Tbill | 6.66% |
| 364 Days Tbill | 6.66% |
| 7.25% Government of India | 6.34% |
| 6.79% Government of India | 5.40% |
| 7.3% Government of India | 4.52% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | ICICI Prudential Medium to Long Term | Nippon India Gilt |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 88.7% | 88.7% |
| Cash and others | 11.3% | 11.3% |
ICICI Prudential Medium to Long Term vs Nippon India Gilt: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | ICICI Prudential Medium to Long Term Fund | Nippon India Gilt Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.59% | 0.52% |
| Base expense ratio (Direct) | 0.50% | 0.43% |
| Total expense ratio (Regular) | 1.00% | 1.21% |
| Base expense ratio (Regular) | 0.85% | 1.02% |
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 Medium to Long Term with
ICICI Prudential Medium to Long Term Fund vs Nippon India Gilt Fund: Frequently Asked Questions
What is the difference between ICICI Prudential Medium to Long Term Fund and Nippon India Gilt Fund?
ICICI Prudential Medium to Long Term Fund is a Medium to Long Duration fund, Nippon India Gilt Fund is a Gilt fund, run by ICICI Prudential Mutual Fund and Nippon India Mutual Fund. Their portfolios overlap 18.7%. ICICI Prudential Medium to Long Term Fund charges 0.59% a year and Nippon India Gilt Fund 0.52%.
Which has given higher returns, ICICI Prudential Medium to Long Term Fund or Nippon India Gilt Fund?
Over 1 year: ICICI Prudential Medium to Long Term Fund +2.69%, Nippon India Gilt Fund +2.49%. Over 3 years: ICICI Prudential Medium to Long Term Fund +6.67% a year, Nippon India Gilt Fund +6.20% a year. Over 5 years: ICICI Prudential Medium to Long Term Fund +6.06% a year, Nippon India Gilt Fund +5.44% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, ICICI Prudential Medium to Long Term Fund or Nippon India Gilt Fund?
Nippon India Gilt Fund charges less: 0.52% a year against 0.59%. These are the Direct plans' total expense ratios reported to AMFI.
How much do ICICI Prudential Medium to Long Term Fund and Nippon India Gilt Fund overlap?
18.7%. They hold 5 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 Medium to Long Term Fund or Nippon India Gilt Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,11,422 in ICICI Prudential Medium to Long Term Fund (XIRR 6.0% a year) and ₹6,99,070 in Nippon India Gilt Fund (XIRR 5.3% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both ICICI Prudential Medium to Long Term Fund and Nippon India Gilt Fund?
Yes. 18.7% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages ICICI Prudential Medium to Long Term Fund and Nippon India Gilt Fund?
ICICI Prudential Medium to Long Term Fund: Manish Banthia, Ritesh Lunawat. Nippon India Gilt Fund: Pranay Sinha.
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.