ICICI Prudential Value Fund vs Zerodha Nifty 50 Index Fund
Direct Plan, Growth option · Data as on 30-10-2026
ICICI Prudential Value Fund is a Value and Contra fund and Zerodha Nifty 50 Index Fund is an Index fund. In the year to 30-10-2026, ICICI Prudential Value Fund (Direct) returned −9.7% and Zerodha Nifty 50 Index Fund (Direct) returned −10.3%. ICICI Prudential Value Fund charges 1.08% a year and Zerodha Nifty 50 Index Fund 0.28% (Direct plans). Their portfolios overlap 58.0%: they hold 26 of the same securities.
ICICI Prudential Value Fund
Value and Contra
- 1 year return
- −9.7%
- Expense ratio
- 1.08%
- NAV
- ₹484.98
Zerodha Nifty 50 Index Fund
Index
- 1 year return
- −10.3%
- Expense ratio
- 0.28%
- NAV
- ₹9.24
Which is better, ICICI Prudential Value or Zerodha Nifty 50 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 1 year: −9.7% against −10.3%.
- Zerodha Nifty 50 Index costs less: 0.28% a year against 1.08% (Direct plans).
- ICICI Prudential Value fell less in its worst fall since 17-10-2025: −14.0% against −15.2%.
- Zerodha Nifty 50 Index holds more in large companies: 99.2% of the fund in large caps against 82.9%.
- ICICI Prudential Value is the larger fund: ₹57,250 Cr against ₹75 Cr.
- Their portfolios overlap 58.0%: 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 | Zerodha Nifty 50 Index Fund |
|---|---|---|
| Fund house | ICICI Prudential Mutual Fund | Zerodha Mutual Fund |
| Category | Value and Contra | Index |
| AUM | ₹57,250 Cr (30-09-2026) | ₹75 Cr (30-09-2026) |
| NAV | ₹484.98 (Direct) | ₹9.24 (Direct) |
| Expense ratio (Direct) | 1.08% | 0.28% |
| Expense ratio (Regular) | 1.55% | Not available |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | Nifty 50 TRI |
| Launch date | 16-08-2004 | 14-10-2025 |
| Minimum investment | ₹1,000 | ₹100 |
| Lock in | None | None |
| Fund managers | Sankaran Naren, Dharmesh Kakkad, Masoomi Jhurmarvala | Kedarnath Mirajkar |
| 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 | Nil |
ICICI Prudential Value vs Zerodha Nifty 50 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% |
| Zerodha Nifty 50 Index Fund (Direct) | +1.95% | −5.00% | −3.12% | −10.25% | -- | -- | -- |
| 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 Zerodha Nifty 50 Index: Year-wise Returns
| Year | ICICI Prudential ValueICICI Prudential Value | Zerodha Nifty 50 IndexZerodha Nifty 50 Index |
|---|---|---|
| 2026to date | −11.70% | −11.01% |
| 2025 | +14.36% | -- |
| 2024 | +20.65% | -- |
| 2023 | +32.08% | -- |
| 2022 | +15.59% | -- |
| 2021 | +39.27% | -- |
ICICI Prudential Value vs Zerodha Nifty 50 Index: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of ICICI Prudential Value Fund
ICICI Prudential Value vs Zerodha Nifty 50 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 01-10-2025 to 30-10-2026: 13 instalments, ₹1,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| ICICI Prudential ValueICICI Prudential Value Fund (Direct) | ₹1,30,000 | ₹1,22,143 | −₹7,857 | −10.3% |
| Zerodha Nifty 50 IndexZerodha Nifty 50 Index Fund (Direct) | ₹1,30,000 | ₹1,23,091 | −₹6,909 | −9.1% |
ICICI Prudential ValueICICI Prudential Value Fund (Direct)
Zerodha Nifty 50 IndexZerodha Nifty 50 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 Zerodha Nifty 50 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) | Zerodha Nifty 50 Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | −9.65% | −10.25% |
| Standard deviation | 11.68% | 13.60% |
| Sharpe ratio | -1.27 | -1.14 |
| Sortino ratio | -1.69 | -1.52 |
| Maximum drawdown | −14.0% (08-10-2026) | −15.2% (30-03-2026) |
| Beta | 0.77 | 1.00 |
| Alpha | −5.19% | −0.28% |
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) | Zerodha Nifty 50 Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +16.53% | −9.31% |
| Standard deviation | 14.01% | 13.43% |
| Sharpe ratio | 0.75 | -1.08 |
| Sortino ratio | 1.04 | -1.45 |
| Maximum drawdown | −36.7% (23-03-2020) | −15.2% (30-03-2026) |
| Beta | 0.82 | 1.00 |
| Alpha | +4.94% | −0.29% |
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)
Zerodha Nifty 50 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) | −14.0% | 02-01-2026 | 08-10-2026 | Not yet | -- | −12.1% |
| Zerodha Nifty 50 Index Fund (Direct) | −15.2% | 02-01-2026 | 30-03-2026 | Not yet | -- | −11.7% |
| Nifty 500 TRI | −14.7% | 02-01-2026 | 30-03-2026 | Not yet | -- | −8.4% |
From daily values since 17-10-2025, 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 Value Fund (Direct)
Zerodha Nifty 50 Index Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| ICICI Prudential Value Fund (Direct) | 61% | 86% | 6.08% |
| Zerodha Nifty 50 Index Fund (Direct) | 73% | 95% | 4.89% |
From month-end values since 17-10-2025. 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 Value vs Zerodha Nifty 50 Index: Portfolio Overlap
From each fund's latest monthly portfolio: ICICI Prudential Value Fund, September 2026; Zerodha Nifty 50 Index Fund, September 2026
Holdings in common
- Overlap
- 58.0%
- Held by both
- 26
- Only in ICICI Prudential Value
- 38
- Only in Zerodha Nifty 50 Index
- 24
| Security | % of ICICI Prudential Value | % of Zerodha Nifty 50 Index |
|---|---|---|
| HDFC Bank Ltd. | 9.45% | 10.44% |
| ICICI Bank Ltd. | 8.97% | 9.10% |
| Reliance Industries Ltd. | 5.13% | 7.63% |
| Infosys Ltd. | 4.15% | 3.37% |
| Axis Bank Ltd. | 2.93% | 3.39% |
| Bharti Airtel Ltd. | 2.50% | 5.13% |
| ITC Ltd. | 4.51% | 2.43% |
| State Bank Of India | 2.02% | 3.81% |
| Tata Consultancy Services Ltd. | 2.58% | 2.01% |
| Sun Pharmaceutical Industries Ltd. | 4.37% | 1.85% |
| Kotak Mahindra Bank Ltd. | 1.72% | 2.95% |
| Hindustan Unilever Ltd. | 2.68% | 1.60% |
| Larsen & Toubro Ltd. | 1.59% | 4.23% |
| Maruti Suzuki India Ltd. | 3.16% | 1.49% |
| NTPC Ltd. | 2.09% | 1.47% |
| Tata Steel Ltd. | 1.30% | 1.47% |
| Ultratech Cement Ltd. | 1.43% | 1.25% |
| Asian Paints Ltd. | 1.27% | 1.04% |
| Bajaj Finserv Ltd. | 1.80% | 0.97% |
| Oil & Natural Gas Corporation Ltd. | 1.58% | 0.84% |
| Coal India Ltd. | 0.77% | 0.98% |
| 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. 58.0% means 58.0% 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 Zerodha Nifty 50 Index Fund
| Security | % of fund |
|---|---|
| Mahindra & Mahindra Limited | 2.53% |
| Bajaj Finance Limited | 2.52% |
| Eternal Limited | 2.23% |
| Titan Company Limited | 1.82% |
| Adani Ports and Special Economic Zone Limited | 1.35% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | ICICI Prudential Value | Zerodha Nifty 50 Index |
|---|---|---|
| Equity | 96.7% | 100.6% |
| Debt | 1.0% | 0.0% |
| Cash and others | 2.4% | -0.6% |
Market cap of stocks
| Market cap | ICICI Prudential Value | Zerodha Nifty 50 Index |
|---|---|---|
| Large Cap | 82.9% | 99.2% |
| 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 | Zerodha Nifty 50 Index |
|---|---|---|
| Banks | 25.9% | 29.7% |
| Insurance | 12.0% | 1.3% |
| Pharmaceuticals & Biotechnology | 8.6% | 3.3% |
| Petroleum Products | 5.3% | 7.6% |
| IT - Software | 0.0% | 7.6% |
| 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 Zerodha Nifty 50 Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | ICICI Prudential Value Fund | Zerodha Nifty 50 Index Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.08% | 0.28% |
| Base expense ratio (Direct) | 0.80% | 0.10% |
| Total expense ratio (Regular) | 1.55% | Not available |
| Base expense ratio (Regular) | 1.20% | 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 Value Fund vs Zerodha Nifty 50 Index Fund: Frequently Asked Questions
What is the difference between ICICI Prudential Value Fund and Zerodha Nifty 50 Index Fund?
ICICI Prudential Value Fund is a Value and Contra fund, Zerodha Nifty 50 Index Fund is an Index fund, run by ICICI Prudential Mutual Fund and Zerodha Mutual Fund. Their portfolios overlap 58.0%. ICICI Prudential Value Fund charges 1.08% a year and Zerodha Nifty 50 Index Fund 0.28%.
Which has given higher returns, ICICI Prudential Value Fund or Zerodha Nifty 50 Index Fund?
Over 1 year: ICICI Prudential Value Fund −9.65%, Zerodha Nifty 50 Index Fund −10.25%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, ICICI Prudential Value Fund or Zerodha Nifty 50 Index Fund?
Zerodha Nifty 50 Index Fund charges less: 0.28% a year against 1.08%. These are the Direct plans' total expense ratios reported to AMFI.
How much do ICICI Prudential Value Fund and Zerodha Nifty 50 Index Fund overlap?
58.0%. 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 Zerodha Nifty 50 Index Fund?
On SEBI's riskometer, ICICI Prudential Value Fund is rated Very High and Zerodha Nifty 50 Index Fund Very High. Over 1 years, the standard deviation of daily returns was 11.68% and 13.60% a year.
Can I invest in both ICICI Prudential Value Fund and Zerodha Nifty 50 Index Fund?
Yes. 58.0% 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 Zerodha Nifty 50 Index Fund?
ICICI Prudential Value Fund: Sankaran Naren, Dharmesh Kakkad, Masoomi Jhurmarvala. Zerodha Nifty 50 Index Fund: Kedarnath Mirajkar.
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.