ICICI Prudential Equity Minimum Variance Fund
The fund is tilted toward large-cap stability with a heavy banking concentration, positioning for defensive equity exposure in a volatile market. The manager's decision to exit quality names like ITC and L&T via covered calls while doubling down on Reliance signals a tactical shift toward energy and financial sectors, though adding eight smaller positions hints at selective value hunting beyond mega-caps. The elevated cash buffer and concentrated top-10 weighting suggest cautious conviction rather than aggressive conviction.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|
| Direct Growth | ₹10.5100 | — | — | — | — |
| Regular Growth | ₹10.3200 | -0.96% | -1.53% | — | — |
| Direct IDCW | ₹10.5100 | — | — | — | — |
Portfolio Metrics(latest month)
vs Category Peers
Active Stock PickerActive Share = ½Σ|wfund − wpeer|, computed using leave-one-out peer portfolio within SEBI category.
Similar Funds in Category
What Changed2026-03-31 → 2026-04-30
| Stock | Weight |
|---|---|
| Dr. Reddy's Laboratories Ltd. | 1.96% |
| Cummins India Ltd. | 1.32% |
| Lupin Ltd. | 0.96% |
| TVS Motor Company Ltd. | 0.59% |
| Marico Ltd. | 0.30% |
| GAIL (India) Ltd. | 0.17% |
| HDFC Life Insurance Company Ltd $$ | -0.01% |
| Bharti Airtel Ltd. $$ | -0.02% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | Reliance Industries Ltd. INE002A01018 | 10.12% |
| 2 | HDFC Bank Ltd. INE040A01034 | 7.50% |
| 3 | TREPS | 6.82% |
| 4 | Bajaj Auto Ltd. INE917I01010 | 5.53% |
| 5 | Infosys Ltd. INE009A01021 | 4.95% |
| 6 | ICICI Bank Ltd. INE090A01021 | 4.66% |
| 7 | Bharti Airtel Ltd. INE397D01024 | 4.54% |
| 8 | Bajaj Finserv Ltd. INE918I01026 | 4.29% |
| 9 | HDFC Life Insurance Company Ltd. INE795G01014 | 4.27% |
| 10 | Grasim Industries Ltd. INE047A01021 | 3.75% |
| 11 | Cash Margin - Derivatives | 3.52% |
| 12 | Kotak Mahindra Bank Ltd. INE237A01036 | 3.22% |
| 13 | Axis Bank Ltd. INE238A01034 | 3.19% |
| 14 | Cipla Ltd. INE059A01026 | 3.07% |
| 15 | Britannia Industries Ltd. INE216A01030 | 2.89% |
| 16 | Hindustan Unilever Ltd. INE030A01027 | 2.48% |
| 17 | Apollo Hospitals Enterprise Ltd. INE437A01024 | 2.43% |
| 18 | Maruti Suzuki India Ltd. INE585B01010 | 2.39% |
| 19 | Ultratech Cement Ltd. INE481G01011 | 2.33% |
| 20 | Larsen & Toubro Ltd. INE018A01030 | 2.15% |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.
Frequently Asked Questions
How many stocks does ICICI Prudential Equity Minimum Variance Fund hold?
ICICI Prudential Equity Minimum Variance Fund holds 33 stocks as per the latest AMFI portfolio disclosure. The top 5 positions account for 32.74% of NAV.
What is the largest holding in ICICI Prudential Equity Minimum Variance Fund?
The largest position in ICICI Prudential Equity Minimum Variance Fund is Reliance Industries Ltd., accounting for 10.12% of NAV in the Petroleum Products sector.
Is ICICI Prudential Equity Minimum Variance Fund a concentrated or diversified fund?
With a Gini coefficient of 0.394, ICICI Prudential Equity Minimum Variance Fund is well-diversified. The HHI concentration index is 40,058 bps, which is above the 2500 bps threshold for high concentration. The top 5 holdings together make up 32.74% of the portfolio.
What is the market cap allocation of ICICI Prudential Equity Minimum Variance Fund?
Based on SEBI's AMFI classification, ICICI Prudential Equity Minimum Variance Fund's equity portfolio is split as: Large Cap: 87.19%, Mid Cap: 1.26%, Small Cap: 0.00%. This reflects the fund's positioning within the market cap spectrum.
Which sectors does ICICI Prudential Equity Minimum Variance Fund invest in most?
ICICI Prudential Equity Minimum Variance Fund has the highest allocation to Banks (18.56%), Petroleum Products (10.12%), It - Software (8.63%). The fund is invested across 20 sectors in total.
How actively managed is ICICI Prudential Equity Minimum Variance Fund compared to other Sectoral / Thematic funds?
ICICI Prudential Equity Minimum Variance Fund has an Active Share of 69.53%, classifying it as "Active Stock Picker" among 237 Sectoral / Thematic peers. This indicates a moderate level of differentiation from category peers.
What changed in ICICI Prudential Equity Minimum Variance Fund's portfolio in the latest month?
Between 2026-03-31 and 2026-04-30, ICICI Prudential Equity Minimum Variance Fund added 8 new stocks (including Dr. Reddy's Laboratories Ltd.) and exited 12 stocks (including ITC Ltd. (Covered call) $$). Total holding count decreased from 42 to 38 stocks.