ICICI Prudential Value Fund vs SBI NIFTY Index Fund
Direct Plan, Growth option · Data as on 30-10-2026
ICICI Prudential Value Fund is a Value and Contra fund and SBI NIFTY Index Fund is an Index fund. In the 3 years to 30-10-2026, ICICI Prudential Value Fund (Direct) returned 11.4% a year and SBI NIFTY Index Fund (Direct) returned 7.3% a year. ICICI Prudential Value Fund charges 1.08% a year and SBI NIFTY Index Fund 0.24% (Direct plans). Their portfolios overlap 57.9%: they hold 26 of the same securities.
ICICI Prudential Value Fund
Value and Contra
- 3 year return
- 11.4%
- Expense ratio
- 1.08%
- NAV
- ₹484.98
Which is better, ICICI Prudential Value or SBI NIFTY Index? 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 Value returned more over 5 years: 13.0% a year against 6.4%.
- ICICI Prudential Value returned more over 3 years: 11.4% a year against 7.3%.
- SBI NIFTY Index costs less: 0.24% a year against 1.08% (Direct plans).
- ICICI Prudential Value swung less over 3 years: a standard deviation of 11.2% a year against 13.2%.
- ICICI Prudential Value fell less in its worst fall since 02-01-2013: −36.7% against −38.4%.
- SBI NIFTY Index holds more in large companies: 98.8% of the fund in large caps against 82.9%.
- ICICI Prudential Value is the larger fund: ₹57,250 Cr against ₹13,190 Cr.
- Their portfolios overlap 57.9%: 26 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 Value Fund | SBI NIFTY Index Fund |
|---|---|---|
| Fund house | ICICI Prudential Mutual Fund | SBI Mutual Fund |
| Category | Value and Contra | Index |
| AUM | ₹57,250 Cr (30-09-2026) | ₹13,190 Cr (30-09-2026) |
| NAV | ₹484.98 (Direct) | ₹215.76 (Direct) |
| Expense ratio (Direct) | 1.08% | 0.24% |
| Expense ratio (Regular) | 1.55% | 0.44% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | Nifty 50 TRI |
| Launch date | 16-08-2004 | 17-01-2002 |
| Minimum investment | ₹1,000 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Sankaran Naren, Dharmesh Kakkad, Masoomi Jhurmarvala | Raviprakash Sharma |
| Exit load | 1% of the applicable Net Asset Value - if the amount sought to be redeemed or switch out is invested for a period of up to 12 months from the date of allotment. NIL - if the amount sought to be redeemed or switch out is invested for a period more than 12 months from the date of allotment | Exit load of 0.25% if redeemed within 30 days |
ICICI Prudential Value vs SBI NIFTY Index: 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 Value Fund (Direct) | +0.67% | −5.68% | −4.73% | −9.65% | +11.45% | +12.96% | +14.04% |
| SBI NIFTY Index Fund (Direct) | +1.94% | −5.06% | −3.24% | −10.22% | +7.34% | +6.43% | +11.22% |
| Value and Contra average | −2.09% | −5.76% | −3.23% | −5.72% | +11.83% | +11.08% | +12.63% |
Category average: the average of the 30 Value and Contra funds, same plan type.
ICICI Prudential Value vs SBI NIFTY Index: Year-wise Returns
| Year | ICICI Prudential ValueICICI Prudential Value | SBI NIFTY IndexSBI NIFTY Index |
|---|---|---|
| 2026to date | −11.70% | −11.09% |
| 2025 | +14.36% | +11.58% |
| 2024 | +20.65% | +9.80% |
| 2023 | +32.08% | +21.04% |
| 2022 | +15.59% | +5.43% |
| 2021 | +39.27% | +25.10% |
ICICI Prudential Value vs SBI NIFTY Index: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of ICICI Prudential Value Fund
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 Value Fund (Direct)
SBI NIFTY Index Fund (Direct)
Nifty 500 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 Value | 2.1 | 7.6 | 13.2 | 15.9 | 10.4 | 22.1 | 28.7 | 18.3% | 20.2% | −8.7% | 41.7% | 68% |
| SBI NIFTY Index | 0.9 | 3.3 | 22.7 | 45.2 | 21.8 | 4.4 | 1.6 | 12.7% | 12.9% | −4.9% | 31.8% | 20% |
| Nifty 500 TRI | 1.9 | 4.3 | 7.8 | 37.0 | 34.8 | 11.3 | 2.9 | 14.7% | 14.9% | −6.3% | 33.5% | -- |
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 500 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 Value vs SBI NIFTY Index: 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 ValueICICI Prudential Value Fund (Direct) | ₹16,60,000 | ₹53,50,056 | ₹36,90,056 | 15.6% |
| SBI NIFTY IndexSBI NIFTY Index Fund (Direct) | ₹16,60,000 | ₹36,28,395 | ₹19,68,395 | 10.6% |
ICICI Prudential ValueICICI Prudential Value Fund (Direct)
SBI NIFTY IndexSBI NIFTY Index 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 Value vs SBI NIFTY Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | ICICI Prudential Value Fund (Direct) | SBI NIFTY Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | −9.65% | −10.22% |
| Standard deviation | 11.68% | 13.62% |
| Sharpe ratio | -1.27 | -1.14 |
| Sortino ratio | -1.69 | -1.52 |
| Maximum drawdown | −14.0% (08-10-2026) | −15.1% (31-03-2026) |
| Beta | 0.77 | 1.00 |
| Alpha | −5.19% | −0.23% |
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 Value Fund (Direct) | SBI NIFTY Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.45% | +7.34% |
| Standard deviation | 11.22% | 13.21% |
| Sharpe ratio | 0.48 | 0.10 |
| Sortino ratio | 0.68 | 0.14 |
| Maximum drawdown | −14.0% (08-10-2026) | −15.5% (04-03-2025) |
| Beta | 0.75 | 1.00 |
| Alpha | +2.27% | −0.29% |
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 Value Fund (Direct) | SBI NIFTY Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.96% | +6.43% |
| Standard deviation | 11.48% | 13.69% |
| Sharpe ratio | 0.62 | 0.05 |
| Sortino ratio | 0.87 | 0.06 |
| Maximum drawdown | −14.0% (08-10-2026) | −15.9% (17-06-2022) |
| Beta | 0.76 | 1.00 |
| Alpha | +4.89% | −0.27% |
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 Value Fund (Direct) | SBI NIFTY Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +16.53% | +10.95% |
| Standard deviation | 14.01% | 15.84% |
| Sharpe ratio | 0.75 | 0.31 |
| Sortino ratio | 1.04 | 0.42 |
| Maximum drawdown | −36.7% (23-03-2020) | −38.4% (23-03-2020) |
| Beta | 0.82 | 1.00 |
| Alpha | +4.94% | −0.62% |
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 Value Fund (Direct)
SBI NIFTY Index Fund (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| ICICI Prudential Value Fund (Direct) | −36.7% | 07-09-2018 | 23-03-2020 | 05-11-2020 | 7 months | −12.1% |
| SBI NIFTY Index Fund (Direct) | −38.4% | 14-01-2020 | 23-03-2020 | 09-11-2020 | 8 months | −11.8% |
| Nifty 500 TRI | −38.1% | 17-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −8.8% |
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 Value Fund (Direct)
SBI NIFTY Index Fund (Direct)
Nifty 500 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 Value Fund (Direct)
SBI NIFTY Index Fund (Direct)
Nifty 500 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 Value Fund (Direct)
SBI NIFTY Index Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| ICICI Prudential Value Fund (Direct) | 94% | 69% | 6.35% |
| SBI NIFTY Index Fund (Direct) | 91% | 95% | 3.36% |
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 Value vs SBI NIFTY Index: Portfolio Overlap
From each fund's latest monthly portfolio: ICICI Prudential Value Fund, September 2026; SBI NIFTY Index Fund, September 2026
Holdings in common
- Overlap
- 57.9%
- Held by both
- 26
- Only in ICICI Prudential Value
- 38
- Only in SBI NIFTY Index
- 24
| Security | % of ICICI Prudential Value | % of SBI NIFTY Index |
|---|---|---|
| HDFC Bank Ltd. | 9.45% | 10.40% |
| ICICI Bank Ltd. | 8.97% | 9.07% |
| Reliance Industries Ltd. | 5.13% | 7.60% |
| Infosys Ltd. | 4.15% | 3.36% |
| Axis Bank Ltd. | 2.93% | 3.37% |
| Bharti Airtel Ltd. | 2.50% | 5.12% |
| ITC Ltd. | 4.51% | 2.43% |
| State Bank Of India | 2.02% | 3.80% |
| Tata Consultancy Services Ltd. | 2.58% | 2.00% |
| Sun Pharmaceutical Industries Ltd. | 4.37% | 1.84% |
| Kotak Mahindra Bank Ltd. | 1.72% | 2.94% |
| Hindustan Unilever Ltd. | 2.68% | 1.60% |
| Larsen & Toubro Ltd. | 1.59% | 4.21% |
| Maruti Suzuki India Ltd. | 3.16% | 1.49% |
| NTPC Ltd. | 2.09% | 1.47% |
| Tata Steel Ltd. | 1.30% | 1.46% |
| Ultratech Cement Ltd. | 1.43% | 1.24% |
| Asian Paints Ltd. | 1.27% | 1.04% |
| Bajaj Finserv Ltd. | 1.80% | 0.96% |
| Oil & Natural Gas Corporation Ltd. | 1.58% | 0.84% |
| Coal India Ltd. | 0.77% | 0.97% |
| SBI Life Insurance Company Ltd. | 2.31% | 0.73% |
| Cipla Ltd. | 1.35% | 0.73% |
| Dr. Reddy's Laboratories Ltd. | 2.06% | 0.72% |
| Tata Motors Passenger Vehicles Ltd. | 1.20% | 0.57% |
| HDFC Life Insurance Company Ltd. | 1.98% | 0.54% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 57.9% means 57.9% 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 Value Fund
| Security | % of fund |
|---|---|
| Life Insurance Corporation of India | 5.83% |
| Apollo Tyres Ltd. | 1.48% |
| TML Commercial Vehicles Ltd. | 1.43% |
| Hyundai Motor India Ltd. | 1.28% |
| ICICI Lombard General Insurance Company Ltd. | 1.14% |
Largest holdings only in SBI NIFTY Index Fund
| Security | % of fund |
|---|---|
| Mahindra & Mahindra Ltd. | 2.52% |
| Bajaj Finance Ltd. | 2.51% |
| Eternal Ltd. | 2.22% |
| Titan Company Ltd. | 1.81% |
| Adani Ports and Special Economic Zone Ltd. | 1.35% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | ICICI Prudential Value | SBI NIFTY Index |
|---|---|---|
| Equity | 96.7% | 100.2% |
| Debt | 1.0% | 0.0% |
| Cash and others | 2.4% | -0.2% |
Market cap of stocks
| Market cap | ICICI Prudential Value | SBI NIFTY Index |
|---|---|---|
| Large Cap | 82.9% | 98.8% |
| Mid Cap | 6.0% | 1.4% |
| Small Cap | 7.6% | 0.0% |
| Not on AMFI's list | 0.2% | 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 Value | SBI NIFTY Index |
|---|---|---|
| Banks | 25.9% | 29.6% |
| Insurance | 12.0% | 1.3% |
| Pharmaceuticals & Biotechnology | 8.6% | 3.3% |
| Petroleum Products | 5.3% | 7.6% |
| IT - Software | 0.0% | 7.5% |
| It - Software | 7.3% | 0.0% |
| Diversified Fmcg | 7.2% | 0.0% |
| Automobiles | 6.3% | 6.7% |
| Finance | 3.1% | 5.5% |
| Telecom - Services | 2.5% | 5.1% |
The six largest sectors of each fund's stocks, % of the fund.
ICICI Prudential Value vs SBI NIFTY Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | ICICI Prudential Value Fund | SBI NIFTY Index Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.08% | 0.24% |
| Base expense ratio (Direct) | 0.80% | 0.16% |
| Total expense ratio (Regular) | 1.55% | 0.44% |
| Base expense ratio (Regular) | 1.20% | 0.33% |
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 Value Fund vs SBI NIFTY Index Fund: Frequently Asked Questions
What is the difference between ICICI Prudential Value Fund and SBI NIFTY Index Fund?
ICICI Prudential Value Fund is a Value and Contra fund, SBI NIFTY Index Fund is an Index fund, run by ICICI Prudential Mutual Fund and SBI Mutual Fund. Their portfolios overlap 57.9%. ICICI Prudential Value Fund charges 1.08% a year and SBI NIFTY Index Fund 0.24%.
Which has given higher returns, ICICI Prudential Value Fund or SBI NIFTY Index Fund?
Over 1 year: ICICI Prudential Value Fund −9.65%, SBI NIFTY Index Fund −10.22%. Over 3 years: ICICI Prudential Value Fund +11.45% a year, SBI NIFTY Index Fund +7.34% a year. Over 5 years: ICICI Prudential Value Fund +12.96% a year, SBI NIFTY Index Fund +6.43% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, ICICI Prudential Value Fund or SBI NIFTY Index Fund?
SBI NIFTY Index Fund charges less: 0.24% a year against 1.08%. These are the Direct plans' total expense ratios reported to AMFI.
How much do ICICI Prudential Value Fund and SBI NIFTY Index Fund overlap?
57.9%. They hold 26 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, RELIANCE. From each fund's latest monthly portfolio.
Which is riskier, ICICI Prudential Value Fund or SBI NIFTY Index Fund?
On SEBI's riskometer, ICICI Prudential Value Fund is rated Very High and SBI NIFTY Index Fund Very High. Over 3 years, the standard deviation of daily returns was 11.22% and 13.21% a year.
Which is better for SIP, ICICI Prudential Value Fund or SBI NIFTY Index Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,82,940 in ICICI Prudential Value Fund (XIRR 9.8% a year) and ₹6,92,459 in SBI NIFTY Index Fund (XIRR 4.9% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both ICICI Prudential Value Fund and SBI NIFTY Index Fund?
Yes. 57.9% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages ICICI Prudential Value Fund and SBI NIFTY Index Fund?
ICICI Prudential Value Fund: Sankaran Naren, Dharmesh Kakkad, Masoomi Jhurmarvala. SBI NIFTY Index Fund: Raviprakash Sharma.
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.