ICICI Prudential Multi Cap Fund vs Nippon India Multi Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
ICICI Prudential Multi Cap Fund and Nippon India Multi Cap Fund are both Multi Cap funds. In the 3 years to 30-10-2026, ICICI Prudential Multi Cap Fund (Direct) returned 13.4% a year and Nippon India Multi Cap Fund (Direct) returned 11.9% a year. ICICI Prudential Multi Cap Fund charges 1.02% a year and Nippon India Multi Cap Fund 0.89% (Direct plans). Their portfolios overlap 14.5%: they hold 30 of the same securities.
ICICI Prudential Multi Cap Fund
Multi Cap
- 3 year return
- 13.4%
- Expense ratio
- 1.02%
- NAV
- ₹878.41
Nippon India Multi Cap Fund
Multi Cap
- 3 year return
- 11.9%
- Expense ratio
- 0.89%
- NAV
- ₹309.72
Which is better, ICICI Prudential Multi Cap or Nippon India Multi Cap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Nippon India Multi Cap returned more over 5 years: 14.9% a year against 12.4%.
- ICICI Prudential Multi Cap returned more over 3 years: 13.4% a year against 11.9%.
- Nippon India Multi Cap costs less: 0.89% a year against 1.02% (Direct plans).
- ICICI Prudential Multi Cap swung less over 3 years: a standard deviation of 14.1% a year against 14.3%.
- ICICI Prudential Multi Cap fell less in its worst fall since 02-01-2013: −38.9% against −42.8%.
- Nippon India Multi Cap is the larger fund: ₹53,767 Cr against ₹18,717 Cr.
- Their portfolios overlap 14.5%: 30 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 Multi Cap Fund | Nippon India Multi Cap Fund |
|---|---|---|
| Fund house | ICICI Prudential Mutual Fund | Nippon India Mutual Fund |
| Category | Multi Cap | Multi Cap |
| AUM | ₹18,717 Cr (30-09-2026) | ₹53,767 Cr (30-09-2026) |
| NAV | ₹878.41 (Direct) | ₹309.72 (Direct) |
| Expense ratio (Direct) | 1.02% | 0.89% |
| Expense ratio (Regular) | 1.76% | 1.62% |
| Riskometer | Not available | Very High |
| Benchmark | NIFTY 500 Multicap 50:25:25 Total Return Index | NIFTY 500 Multicap 50:25:25 Total Return Index |
| Launch date | 28-09-2001 | 28-03-2005 |
| Minimum investment | ₹5,000 | ₹100 |
| Lock in | None | None |
| Fund managers | Lalit Kumar, Sharmila D’silva | Sailesh Raj Bhan, Yatin Matta |
| Exit load | 1 % of applicable Net Asset Value If the amount sought to be redeemed or switch out within 12 months from allotment. Nil If the amount sought to be redeemed or switched out more than 12 months. | For units more than 10% of the investments, an exit load of 1% if redeemed within 12 months. |
ICICI Prudential Multi Cap vs Nippon India Multi 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 Multi Cap Fund (Direct) | −5.15% | −8.29% | −4.13% | −3.12% | +13.37% | +12.42% | +13.62% |
| Nippon India Multi Cap Fund (Direct) | −3.06% | −7.39% | −5.16% | −8.14% | +11.87% | +14.92% | +14.86% |
| Multi Cap average | −2.65% | −3.95% | +1.99% | −1.14% | +13.54% | +12.56% | +14.55% |
Category average: the average of the 33 Multi Cap funds, same plan type.
ICICI Prudential Multi Cap vs Nippon India Multi Cap: Year-wise Returns
| Year | ICICI PrudentialICICI Prudential Multi Cap | Nippon IndiaNippon India Multi Cap | Nifty500 Multicap 50:25:25 TRI |
|---|---|---|---|
| 2026to date | −2.68% | −6.44% | −5.56% |
| 2025 | +6.56% | +4.88% | +5.29% |
| 2024 | +21.69% | +26.85% | +19.34% |
| 2023 | +36.48% | +39.15% | +33.74% |
| 2022 | +5.61% | +14.97% | +2.84% |
| 2021 | +37.62% | +49.87% | +40.62% |
ICICI Prudential Multi Cap vs Nippon India Multi Cap: Rolling Returns
Every holding period of both funds, against Nifty500 Multicap 50:25:25 TRI, the benchmark of both
Rolling returns
Every 3-year holding period, 2,666 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 Multi Cap Fund (Direct)
Nippon India Multi Cap Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
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 | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ICICI Prudential Multi Cap | 2.6 | 4.3 | 5.7 | 25.2 | 26.0 | 23.3 | 13.0 | 17.0% | 17.5% | −7.9% | 34.9% | 100% |
| Nippon India Multi Cap | 6.6 | 2.2 | 14.2 | 20.5 | 18.4 | 17.1 | 21.0 | 17.3% | 16.9% | −8.9% | 42.6% | 100% |
| Nifty500 Multicap 50:25:25 TRI | 0.0 | 0.0 | 0.0 | 12.7 | 49.4 | 36.3 | 1.5 | 19.0% | 18.9% | 10.1% | 26.3% | -- |
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 Nifty500 Multicap 50:25:25 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 02-01-2013. Past returns do not promise future returns.
ICICI Prudential Multi Cap vs Nippon India Multi 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 02-01-2013 to 30-10-2026: 166 instalments, ₹16,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| ICICI Prudential Multi CapICICI Prudential Multi Cap Fund (Direct) | ₹16,60,000 | ₹50,77,434 | ₹34,17,434 | 14.9% |
| Nippon India Multi CapNippon India Multi Cap Fund (Direct) | ₹16,60,000 | ₹52,34,670 | ₹35,74,670 | 15.3% |
ICICI Prudential Multi CapICICI Prudential Multi Cap Fund (Direct)
Nippon India Multi CapNippon India Multi 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 Multi Cap vs Nippon India Multi Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | ICICI Prudential Multi Cap Fund (Direct) | Nippon India Multi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −3.12% | −8.14% |
| Standard deviation | 17.18% | 14.29% |
| Sharpe ratio | -0.49 | -0.94 |
| Sortino ratio | -0.66 | -1.24 |
| Maximum drawdown | −13.8% (23-10-2026) | −13.1% (31-03-2026) |
| Beta | 1.11 | 0.94 |
| Alpha | +4.18% | −2.81% |
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 Multi Cap Fund (Direct) | Nippon India Multi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.37% | +11.87% |
| Standard deviation | 14.11% | 14.32% |
| Sharpe ratio | 0.52 | 0.41 |
| Sortino ratio | 0.71 | 0.55 |
| Maximum drawdown | −17.3% (28-02-2025) | −18.6% (03-03-2025) |
| Beta | 0.90 | 0.93 |
| Alpha | +2.64% | +0.99% |
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 Multi Cap Fund (Direct) | Nippon India Multi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.42% | +14.92% |
| Standard deviation | 13.81% | 14.54% |
| Sharpe ratio | 0.48 | 0.63 |
| Sortino ratio | 0.65 | 0.84 |
| Maximum drawdown | −17.3% (28-02-2025) | −18.6% (03-03-2025) |
| Beta | 0.89 | 0.94 |
| Alpha | +2.43% | +4.68% |
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 Multi Cap Fund (Direct) | Nippon India Multi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.23% | +14.98% |
| Standard deviation | 15.25% | 16.54% |
| Sharpe ratio | 0.60 | 0.54 |
| Sortino ratio | 0.81 | 0.73 |
| Maximum drawdown | −38.9% (23-03-2020) | −42.8% (23-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 02-01-2013 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 Multi Cap Fund (Direct)
Nippon India Multi Cap Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| ICICI Prudential Multi Cap Fund (Direct) | −38.9% | 17-01-2020 | 23-03-2020 | 01-12-2020 | 8 months | −11.4% |
| Nippon India Multi Cap Fund (Direct) | −42.8% | 27-05-2019 | 23-03-2020 | 12-01-2021 | 10 months | −9.2% |
| Nifty500 Multicap 50:25:25 TRI | −19.8% | 26-09-2024 | 03-03-2025 | 03-08-2026 | 17 months | −8.0% |
From daily values since 02-01-2013, 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 Multi Cap Fund (Direct)
Nippon India Multi Cap Fund (Direct)
Nifty500 Multicap 50:25:25 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 Multi Cap Fund (Direct)
Nippon India Multi Cap Fund (Direct)
Nifty500 Multicap 50:25:25 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 Multi Cap Fund (Direct)
Nippon India Multi Cap Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
Against Nifty500 Multicap 50:25:25 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| ICICI Prudential Multi Cap Fund (Direct) | 97% | 84% | 4.49% |
| Nippon India Multi Cap Fund (Direct) | 104% | 76% | 5.44% |
From month-end values since 02-01-2013. 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 Multi Cap vs Nippon India Multi Cap: Portfolio Overlap
From each fund's latest monthly portfolio: ICICI Prudential Multi Cap Fund, September 2026; Nippon India Multi Cap Fund, September 2026
Holdings in common
- Overlap
- 14.5%
- Held by both
- 30
- Only in ICICI Prudential Multi Cap
- 138
- Only in Nippon India Multi Cap
- 90
| Security | % of ICICI Prudential Multi Cap | % of Nippon India Multi Cap |
|---|---|---|
| Samvardhana Motherson International Ltd. | 2.17% | 1.70% |
| Multi Commodity Exchange Of India Ltd. | 2.12% | 1.27% |
| Mahindra & Mahindra Ltd. | 0.94% | 1.35% |
| Bajaj Finance Ltd. | 0.93% | 1.63% |
| Ge Vernova T&D India Ltd. | 0.91% | 1.58% |
| CG Power and Industrial Solutions Ltd. | 1.48% | 0.72% |
| SBI Cards & Payment Services Ltd. | 0.82% | 0.70% |
| PB Fintech Ltd. | 1.59% | 0.69% |
| Aditya Birla Lifestyle Brands Ltd. | 0.57% | 0.60% |
| Vedanta Aluminium Metal Ltd. | 2.84% | 0.56% |
| Blue Star Ltd. | 0.91% | 0.56% |
| TVS Motor Company Ltd. | 1.01% | 0.47% |
| ABB India Ltd. | 1.94% | 0.45% |
| Syngene International Ltd. | 1.55% | 0.45% |
| Triveni Turbine Ltd. | 0.78% | 0.38% |
| Voltas Ltd. | 0.38% | 0.96% |
| The Indian Hotels Company Ltd. | 0.37% | 0.79% |
| Dixon Technologies (India) Ltd. | 0.35% | 0.73% |
| Balkrishna Industries Ltd. | 0.32% | 0.92% |
| Vesuvius India Ltd | 0.29% | 1.19% |
| EIH Ltd. | 0.25% | 0.91% |
| Whirlpool of India Ltd. | 0.25% | 0.31% |
| Cummins India Ltd. | 0.70% | 0.23% |
| Jsw Dulux Ltd. | 0.20% | 0.52% |
| ZF Commercial Vehicle Control Systems India Ltd | 0.13% | 0.57% |
| Delhivery Ltd. | 0.11% | 0.44% |
| SIEMENS ENERGY INDIA LTD | 0.11% | 1.00% |
| UTI Asset Management Co Ltd | 0.09% | 0.28% |
| Aditya Birla Sun Life AMC Ltd. | 0.06% | 0.96% |
| Aditya Birla Fashion and Retail Ltd. | 0.04% | 0.04% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 14.5% means 14.5% 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 Multi Cap Fund
| Security | % of fund |
|---|---|
| Apar Industries Ltd. | 2.79% |
| Interglobe Aviation Ltd. | 2.64% |
| BSE Ltd. | 2.55% |
| Ultratech Cement Ltd. | 2.45% |
| Jindal Steel Ltd. | 2.40% |
Largest holdings only in Nippon India Multi Cap Fund
| Security | % of fund |
|---|---|
| HDFC Bank Limited | 7.06% |
| Axis Bank Limited | 5.07% |
| Infosys Limited | 3.06% |
| ICICI Bank Limited | 2.97% |
| Linde India Limited | 1.79% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | ICICI Prudential Multi Cap | Nippon India Multi Cap |
|---|---|---|
| Equity | 98.2% | 99.3% |
| Debt | 0.0% | 0.0% |
| Cash and others | 1.8% | 0.7% |
Market cap of stocks
| Market cap | ICICI Prudential Multi Cap | Nippon India Multi Cap |
|---|---|---|
| Large Cap | 37.1% | 43.5% |
| Mid Cap | 29.1% | 29.5% |
| Small Cap | 31.8% | 26.3% |
| Not on AMFI's list | 0.3% | 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 Multi Cap | Nippon India Multi Cap |
|---|---|---|
| Banks | 1.4% | 17.6% |
| Retailing | 1.3% | 9.9% |
| Electrical Equipment | 9.1% | 5.0% |
| Industrial Products | 8.5% | 1.9% |
| Auto Components | 8.2% | 3.2% |
| Pharmaceuticals & Biotechnology | 2.4% | 7.9% |
| Chemicals & Petrochemicals | 7.2% | 2.0% |
| Consumer Durables | 4.6% | 6.9% |
| Capital Markets | 6.5% | 3.0% |
| Finance | 6.5% | 3.0% |
| Leisure Services | 1.7% | 5.8% |
The six largest sectors of each fund's stocks, % of the fund.
ICICI Prudential Multi Cap vs Nippon India Multi Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | ICICI Prudential Multi Cap Fund | Nippon India Multi Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.02% | 0.89% |
| Base expense ratio (Direct) | 0.79% | 0.60% |
| Total expense ratio (Regular) | 1.76% | 1.62% |
| Base expense ratio (Regular) | 1.43% | 1.23% |
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 Multi Cap with
ICICI Prudential Multi Cap Fund vs Nippon India Multi Cap Fund: Frequently Asked Questions
What is the difference between ICICI Prudential Multi Cap Fund and Nippon India Multi Cap Fund?
Both are Multi Cap funds, run by ICICI Prudential Mutual Fund and Nippon India Mutual Fund. Their portfolios overlap 14.5%. ICICI Prudential Multi Cap Fund charges 1.02% a year and Nippon India Multi Cap Fund 0.89%.
Which has given higher returns, ICICI Prudential Multi Cap Fund or Nippon India Multi Cap Fund?
Over 1 year: ICICI Prudential Multi Cap Fund −3.12%, Nippon India Multi Cap Fund −8.14%. Over 3 years: ICICI Prudential Multi Cap Fund +13.37% a year, Nippon India Multi Cap Fund +11.87% a year. Over 5 years: ICICI Prudential Multi Cap Fund +12.42% a year, Nippon India Multi Cap Fund +14.92% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, ICICI Prudential Multi Cap Fund or Nippon India Multi Cap Fund?
Nippon India Multi Cap Fund charges less: 0.89% a year against 1.02%. These are the Direct plans' total expense ratios reported to AMFI.
How much do ICICI Prudential Multi Cap Fund and Nippon India Multi Cap Fund overlap?
14.5%. They hold 30 of the same securities, the largest shared ones being MOTHERSON, MCX, M&M. From each fund's latest monthly portfolio.
Which is better for SIP, ICICI Prudential Multi Cap Fund or Nippon India Multi Cap Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹8,14,012 in ICICI Prudential Multi Cap Fund (XIRR 11.3% a year) and ₹8,13,687 in Nippon India Multi Cap Fund (XIRR 11.3% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both ICICI Prudential Multi Cap Fund and Nippon India Multi Cap Fund?
Yes. 14.5% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages ICICI Prudential Multi Cap Fund and Nippon India Multi Cap Fund?
ICICI Prudential Multi Cap Fund: Lalit Kumar, Sharmila D’silva. Nippon India Multi Cap Fund: Sailesh Raj Bhan, Yatin Matta.
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.