ICICI Prudential Multi Cap Fund vs Nippon India NIFTY India Manufacturing ETF
Direct Plan, Growth option · Data as on 30-10-2026
ICICI Prudential Multi Cap Fund is a Multi Cap fund and Nippon India NIFTY India Manufacturing ETF is a mutual fund. In the year to 30-10-2026, ICICI Prudential Multi Cap Fund (Direct) returned −3.1% and Nippon India NIFTY India Manufacturing ETF (Direct) returned −1.9%. ICICI Prudential Multi Cap Fund charges 1.02% a year and Nippon India NIFTY India Manufacturing ETF 0.30% (Direct plans). Their portfolios overlap 30.3%: they hold 45 of the same securities.
ICICI Prudential Multi Cap Fund
Multi Cap
- 1 year return
- −3.1%
- Expense ratio
- 1.02%
- NAV
- ₹878.41
Nippon India NIFTY India Manufacturing ETF
- 1 year return
- −1.9%
- Expense ratio
- 0.30%
- NAV
- ₹149.82
Which is better, ICICI Prudential Multi Cap or Nippon India NIFTY India Manufacturing ETF? 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 NIFTY India Manufacturing ETF returned more over 1 year: −1.9% against −3.1%.
- Nippon India NIFTY India Manufacturing ETF costs less: 0.30% a year against 1.02% (Direct plans).
- Nippon India NIFTY India Manufacturing ETF fell less in its worst fall since 28-08-2025: −12.8% against −13.8%.
- Nippon India NIFTY India Manufacturing ETF holds more in large companies: 69.0% of the fund in large caps against 37.1%.
- ICICI Prudential Multi Cap is the larger fund: ₹18,717 Cr against ₹16 Cr.
- Their portfolios overlap 30.3%: 45 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 NIFTY India Manufacturing ETF |
|---|---|---|
| Fund house | ICICI Prudential Mutual Fund | Nippon India Mutual Fund |
| Category | Multi Cap | Not available |
| AUM | ₹18,717 Cr (30-09-2026) | ₹16 Cr (30-09-2026) |
| NAV | ₹878.41 (Direct) | ₹149.82 (Direct) |
| Expense ratio (Direct) | 1.02% | 0.30% |
| Expense ratio (Regular) | 1.76% | Not available |
| Riskometer | Not available | Not available |
| Benchmark | NIFTY 500 Multicap 50:25:25 Total Return Index | Not available |
| Launch date | 28-09-2001 | Not available |
| Minimum investment | ₹5,000 | Not available |
| Lock in | None | Not available |
| Fund managers | Lalit Kumar, Sharmila D’silva | Not available |
| 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. | Not available |
ICICI Prudential Multi Cap vs Nippon India NIFTY India Manufacturing ETF: 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 NIFTY India Manufacturing ETF (Direct) | −3.56% | −7.52% | −3.68% | −1.94% | -- | -- | -- |
| 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 NIFTY India Manufacturing ETF: Year-wise Returns
| Year | ICICI Prudential Multi CapICICI Prudential Multi Cap | Nippon India NIFTY India Manufacturing ETFNippon India NIFTY India Manufacturing ETF |
|---|---|---|
| 2026to date | −2.68% | −2.73% |
| 2025 | +6.56% | -- |
| 2024 | +21.69% | -- |
| 2023 | +36.48% | -- |
| 2022 | +5.61% | -- |
| 2021 | +37.62% | -- |
ICICI Prudential Multi Cap vs Nippon India NIFTY India Manufacturing ETF: Rolling Returns
Every holding period of both funds, against Nifty500 Multicap 50:25:25 TRI, the benchmark of ICICI Prudential Multi Cap Fund
Rolling returns
Every 1-year holding period, 41 of them, one for each trading day from 28-08-2026 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 Multi Cap Fund (Direct)
Nippon India NIFTY India Manufacturing ETF (Direct)
Nifty500 Multicap 50:25:25 TRI
to
Sept 2026Sept 2025
to
Sept 2026Sept 2025
to
Sept 2026Oct 2025
to
Oct 2026Oct 2025
to
Oct 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 | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ICICI Prudential Multi Cap | 14.6 | 36.6 | 29.3 | 19.5 | 0.0 | 0.0 | 0.0 | 5.1% | 4.9% | −5.0% | 13.9% | 100% |
| Nippon India NIFTY India Manufacturing ETF | 14.6 | 36.6 | 29.3 | 14.6 | 4.9 | 0.0 | 0.0 | 4.9% | 4.7% | −3.6% | 17.0% | 100% |
| Nifty500 Multicap 50:25:25 TRI | 51.2 | 36.6 | 12.2 | 0.0 | 0.0 | 0.0 | 0.0 | −0.2% | −0.4% | −7.6% | 7.6% | -- |
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 28-08-2025. Past returns do not promise future returns.
ICICI Prudential Multi Cap vs Nippon India NIFTY India Manufacturing ETF: 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 01-08-2025 to 30-10-2026: 15 instalments, ₹1,50,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| ICICI Prudential Multi CapICICI Prudential Multi Cap Fund (Direct) | ₹1,50,000 | ₹1,45,817 | −₹4,183 | −4.2% |
| Nippon India NIFTY India Manufacturing ETFNippon India NIFTY India Manufacturing ETF (Direct) | ₹1,50,000 | ₹1,46,874 | −₹3,126 | −3.2% |
ICICI Prudential Multi CapICICI Prudential Multi Cap Fund (Direct)
Nippon India NIFTY India Manufacturing ETFNippon India NIFTY India Manufacturing ETF (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 NIFTY India Manufacturing ETF: 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 NIFTY India Manufacturing ETF (Direct) |
|---|---|---|
| Return (CAGR) | −3.12% | −1.94% |
| Standard deviation | 17.18% | 16.06% |
| Sharpe ratio | -0.49 | -0.45 |
| Sortino ratio | -0.66 | -0.60 |
| Maximum drawdown | −13.8% (23-10-2026) | −12.8% (23-10-2026) |
| Beta | 1.11 | 1.00 |
| Alpha | +4.18% | −0.24% |
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 NIFTY India Manufacturing ETF (Direct) |
|---|---|---|
| Return (CAGR) | +15.23% | +4.20% |
| Standard deviation | 15.25% | 15.28% |
| Sharpe ratio | 0.60 | -0.07 |
| Sortino ratio | 0.81 | -0.10 |
| Maximum drawdown | −38.9% (23-03-2020) | −12.8% (23-10-2026) |
| Beta | -- | 1.00 |
| Alpha | -- | −0.28% |
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 NIFTY India Manufacturing ETF (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) | −13.8% | 26-08-2026 | 23-10-2026 | Not yet | -- | −11.4% |
| Nippon India NIFTY India Manufacturing ETF (Direct) | −12.8% | 07-08-2026 | 23-10-2026 | Not yet | -- | −10.5% |
| Nifty500 Multicap 50:25:25 TRI | −14.6% | 02-01-2026 | 30-03-2026 | 06-07-2026 | 3 months | −8.0% |
From daily values since 28-08-2025, 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 NIFTY India Manufacturing ETF (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) | 117% | 109% | 5.32% |
| Nippon India NIFTY India Manufacturing ETF (Direct) | 125% | 102% | 6.06% |
From month-end values since 28-08-2025. 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 NIFTY India Manufacturing ETF: Portfolio Overlap
From each fund's latest monthly portfolio: ICICI Prudential Multi Cap Fund, September 2026; Nippon India NIFTY India Manufacturing ETF, September 2026
Holdings in common
- Overlap
- 30.3%
- Held by both
- 45
- Only in ICICI Prudential Multi Cap
- 123
- Only in Nippon India NIFTY India Manufacturing ETF
- 32
| Security | % of ICICI Prudential Multi Cap | % of Nippon India NIFTY India Manufacturing ETF |
|---|---|---|
| Samvardhana Motherson International Ltd. | 2.17% | 1.72% |
| Vedanta Aluminium Metal Ltd. | 2.84% | 1.67% |
| Hindustan Aeronautics Ltd. | 1.65% | 2.11% |
| JSW Steel Ltd. | 1.51% | 2.88% |
| CG Power and Industrial Solutions Ltd. | 1.48% | 1.40% |
| Bharat Forge Ltd. | 2.04% | 1.28% |
| Bharat Petroleum Corporation Ltd. | 1.18% | 1.45% |
| Vedanta Ltd. | 1.57% | 1.09% |
| Jindal Steel Ltd. | 2.40% | 1.01% |
| TVS Motor Company Ltd. | 1.01% | 2.30% |
| APL Apollo Tubes Ltd. | 1.58% | 0.95% |
| Tata Steel Ltd. | 0.95% | 3.65% |
| Mahindra & Mahindra Ltd. | 0.94% | 4.98% |
| Ge Vernova T&D India Ltd. | 0.91% | 1.24% |
| Sona Blw Precision Forgings Ltd. | 0.94% | 0.89% |
| ABB India Ltd. | 1.94% | 0.85% |
| Hindalco Industries Ltd. | 0.82% | 3.25% |
| SRF Ltd. | 0.76% | 0.86% |
| Bajaj Auto Ltd. | 0.76% | 2.83% |
| UPL Ltd. | 0.93% | 0.72% |
| Cummins India Ltd. | 0.70% | 1.53% |
| KEI Industries Ltd. | 1.03% | 0.66% |
| Welspun Corp Ltd. | 0.58% | 0.85% |
| Solar Industries India Ltd. | 0.57% | 1.15% |
| Blue Star Ltd. | 0.91% | 0.47% |
| Polycab India Ltd. | 0.43% | 1.03% |
| Siemens Ltd. | 0.41% | 0.79% |
| Voltas Ltd. | 0.38% | 0.58% |
| PI Industries Ltd. | 0.37% | 0.45% |
| AIA Engineering Ltd. | 0.65% | 0.36% |
| Amber Enterprises India Ltd. | 0.45% | 0.35% |
| Dixon Technologies (India) Ltd. | 0.35% | 1.29% |
| Balkrishna Industries Ltd. | 0.32% | 0.41% |
| Astral Ltd. | 0.31% | 0.40% |
| K.P.R. Mill Ltd. | 2.15% | 0.29% |
| Eicher Motors Ltd. | 0.26% | 2.35% |
| Dr. Reddy's Laboratories Ltd. | 0.25% | 1.79% |
| Navin Fluorine International Ltd. | 0.24% | 0.72% |
| Coromandel International Ltd. | 0.23% | 0.50% |
| Supreme Industries Ltd. | 0.22% | 0.53% |
| Tata Motors Passenger Vehicles Ltd. | 0.18% | 1.42% |
| UNO Minda Ltd. | 0.15% | 0.51% |
| SIEMENS ENERGY INDIA LTD | 0.11% | 0.68% |
| Escorts Kubota Ltd | 0.05% | 0.21% |
| MRF Ltd. | 0.02% | 0.64% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 30.3% means 30.3% 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% |
| Multi Commodity Exchange Of India Ltd. | 2.12% |
Largest holdings only in Nippon India NIFTY India Manufacturing ETF
| Security | % of fund |
|---|---|
| Reliance Industries Limited | 4.96% |
| Sun Pharmaceutical Industries Limited | 4.59% |
| Maruti Suzuki India Limited | 3.71% |
| Bharat Electronics Limited | 3.32% |
| Divi's Laboratories Limited | 2.82% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | ICICI Prudential Multi Cap | Nippon India NIFTY India Manufacturing ETF |
|---|---|---|
| Equity | 98.2% | 99.8% |
| Debt | 0.0% | 0.0% |
| Cash and others | 1.8% | 0.2% |
Market cap of stocks
| Market cap | ICICI Prudential Multi Cap | Nippon India NIFTY India Manufacturing ETF |
|---|---|---|
| Large Cap | 37.1% | 69.0% |
| Mid Cap | 29.1% | 27.6% |
| Small Cap | 31.8% | 3.2% |
| 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 NIFTY India Manufacturing ETF |
|---|---|---|
| Pharmaceuticals & Biotechnology | 2.4% | 18.5% |
| Automobiles | 3.2% | 18.3% |
| Electrical Equipment | 9.1% | 7.0% |
| Industrial Products | 8.5% | 6.3% |
| Auto Components | 8.2% | 7.0% |
| Petroleum Products | 2.3% | 7.6% |
| Ferrous Metals | 5.3% | 7.5% |
| Chemicals & Petrochemicals | 7.2% | 4.5% |
| Capital Markets | 6.5% | 0.0% |
| Finance | 6.5% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
ICICI Prudential Multi Cap vs Nippon India NIFTY India Manufacturing ETF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | ICICI Prudential Multi Cap Fund | Nippon India NIFTY India Manufacturing ETF |
|---|---|---|
| Total expense ratio (Direct) | 1.02% | 0.30% |
| Base expense ratio (Direct) | 0.79% | 0.21% |
| Total expense ratio (Regular) | 1.76% | Not available |
| Base expense ratio (Regular) | 1.43% | 0.00% |
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
ICICI Prudential Multi Cap Fund vs Nippon India NIFTY India Manufacturing ETF: Frequently Asked Questions
What is the difference between ICICI Prudential Multi Cap Fund and Nippon India NIFTY India Manufacturing ETF?
ICICI Prudential Multi Cap Fund is a Multi Cap fund, Nippon India NIFTY India Manufacturing ETF is a mutual fund, run by ICICI Prudential Mutual Fund and Nippon India Mutual Fund. Their portfolios overlap 30.3%. ICICI Prudential Multi Cap Fund charges 1.02% a year and Nippon India NIFTY India Manufacturing ETF 0.30%.
Which has given higher returns, ICICI Prudential Multi Cap Fund or Nippon India NIFTY India Manufacturing ETF?
Over 1 year: ICICI Prudential Multi Cap Fund −3.12%, Nippon India NIFTY India Manufacturing ETF −1.94%. 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 NIFTY India Manufacturing ETF?
Nippon India NIFTY India Manufacturing ETF charges less: 0.30% 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 NIFTY India Manufacturing ETF overlap?
30.3%. They hold 45 of the same securities, the largest shared ones being MOTHERSON, VAML-BE, HAL. From each fund's latest monthly portfolio.
Can I invest in both ICICI Prudential Multi Cap Fund and Nippon India NIFTY India Manufacturing ETF?
Yes. 30.3% of each fund's money sits in the same holdings, so some of the two investments would move together.
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.