# ICICI Prudential Large Cap Fund vs Nippon India Large Cap Fund What ₹10 lakh grew to in each, with returns, costs, risk, holdings, overlap and Foliyo’s research view. Updated 2 November 2026 by the Foliyo Research Desk, led by Sachin Kabra, Principal Officer (SEBI RIA INA000023454) · https://foliyo.ai/mutual-funds/compare/icici-prudential-large-cap-vs-nippon-india-large-cap/ Talk to Foliyo: book a free 30-minute call with the SEBI-registered team at https://foliyo.ai/book/ (pick a time, then name, mobile, email and two quick questions; no sign-up). - ICICI Prudential Large Cap Fund: Leader - Nippon India Large Cap Fund: Leader - Portfolio overlap: 55% - Returns to: 30 October 2026 1 year: ₹10 lakh invested on 30 October 2025 was worth **₹9.03 lakh** in ICICI Prudential Large Cap Fund and **₹9.13 lakh** in Nippon India Large Cap Fund on 30 October 2026. 3 years: ₹10 lakh invested on 1 November 2023 was worth **₹13.50 lakh** in ICICI Prudential Large Cap Fund and **₹13.74 lakh** in Nippon India Large Cap Fund on 30 October 2026. 5 years: ₹10 lakh invested on 8 November 2021 was worth **₹15.62 lakh** in ICICI Prudential Large Cap Fund and **₹17.03 lakh** in Nippon India Large Cap Fund on 30 October 2026. 10 years: ₹10 lakh invested on 4 November 2016 was worth **₹34.92 lakh** in ICICI Prudential Large Cap Fund and **₹37.34 lakh** in Nippon India Large Cap Fund on 30 October 2026. Since the start: ₹10 lakh invested on 1 January 2013 was worth **₹61.16 lakh** in ICICI Prudential Large Cap Fund and **₹65.86 lakh** in Nippon India Large Cap Fund on 30 October 2026. ICICI Prudential Large Cap Fund (Leader, ₹76,352 Cr) and Nippon India Large Cap Fund (Leader, ₹51,296 Cr) are two of the largest large cap funds. On Foliyo’s research Nippon India Large Cap Fund ranks higher (2 of 27, Leader) than ICICI Prudential Large Cap Fund (5, Leader). ₹10 lakh put in both on 1 January 2013 grew to ₹61.16 lakh and ₹65.86 lakh respectively by 30 October 2026. [Compare mutual funds](https://foliyo.ai/mutual-funds/compare/?a=F00000PE3W&b=F00000PD8N) Pick any two funds, in any plan, and see them side by side. ## ICICI Prudential Large Cap Fund vs Nippon India Large Cap Fund: side by side | Direct Growth plans | [ICICI Prudential Large Cap Fund](https://foliyo.ai/mutual-funds/?isin=INF109K016L0) | [Nippon India Large Cap Fund](https://foliyo.ai/mutual-funds/?isin=INF204K01XI3) | | --- | --- | --- | | Foliyo label | Leader #5 of 27 | Leader #2 of 27 | | ₹10 lakh after 1 year | ₹9.03 lakh | ₹9.13 lakh | | ₹10 lakh after 3 years | ₹13.50 lakh | ₹13.74 lakh | | ₹10 lakh after 5 years | ₹15.62 lakh | ₹17.03 lakh | | ₹10 lakh after 10 years | ₹34.92 lakh | ₹37.34 lakh | | 1-year return | −9.7% | −8.7% | | 3-year return (a year) | 10.3% | 11.0% | | 5-year return (a year) | 9.9% | 12.0% | | 10-year return (a year) | 13.0% | 13.7% | | Since launch (a year) | 14.0% | 14.6% | | Fund size (AUM) | ₹76,352 Cr | ₹51,296 Cr | | Expense ratio (Direct) | 1.01% | 0.88% | | Number of holdings | 97 | 73 | | Equity / debt / cash | 96% / 0% / 3% | 100% / — / 0% | | Large / mid / small cap | 85% / 11% / 0% | 81% / 15% / 3% | | Price to earnings | 21.0 | 21.9 | | Price to book | 2.8 | 3.1 | | Sharpe ratio (3Y) | 0.28 | 0.29 | | Sortino ratio (3Y) | 0.40 | 0.42 | | Standard deviation (3Y) | 13.8% | 14.4% | | Maximum drawdown (3Y) | −14.0% | −14.3% | | Alpha (3Y) | 1.66% | 1.97% | | Beta (3Y) | 0.91 | 0.96 | | Downside capture (3Y) | 89 | 89 | | Lead fund manager | Vaibhav Dusad (since January 2021) | Sailesh Raj Bhan (since August 2007) | | Launch date | 1 January 2013 | 1 January 2013 | | Benchmark | Nifty 100 TR INR | BSE 100 India TR INR | | Riskometer | Very High Risk | Very High Risk | Returns to 30 October 2026; risk ratios to 30 September 2026, 3 years; portfolios as of 30 September 2026; labels and ranks from Foliyo’s review of 23 October 2026. A “—” means the figure isn’t available for that fund. ## Where each fund invests ### ICICI Prudential Large Cap Fund: sectors - Financial Services 34.3% - Consumer Cyclical 12.1% - Industrials 10.3% - Energy 7.4% - Consumer Defensive 5.7% - Healthcare 5.5% - Other 24.7% ### Nippon India Large Cap Fund: sectors - Financial Services 34.5% - Consumer Cyclical 15.9% - Consumer Defensive 12.6% - Technology 9.0% - Industrials 7.5% - Healthcare 7.5% - Energy 4.7% - Other 8.1% ### ICICI Prudential Large Cap Fund: market cap - Large cap 85.1% - Mid cap 10.9% - Small cap 0.1% - Other 3.9% ### Nippon India Large Cap Fund: market cap - Large cap 81.3% - Mid cap 14.6% - Small cap 3.3% - Other 0.7% ## Portfolio overlap ICICI Prudential Large Cap Fund and Nippon India Large Cap Fund hold 38 of the same stocks and bonds; counting each common holding at the smaller of its two weights, **55% of the two portfolios overlap**. That is high: owning both adds little diversification. ### Largest common holdings - HDFC Bank Ltd: ICICI Prudential Large Cap Fund 8.4%, Nippon India Large Cap Fund 9.6% - ICICI Bank Ltd: ICICI Prudential Large Cap Fund 8.9%, Nippon India Large Cap Fund 6.1% - Axis Bank Ltd: ICICI Prudential Large Cap Fund 4.1%, Nippon India Large Cap Fund 5.3% - Reliance Industries Ltd: ICICI Prudential Large Cap Fund 5.5%, Nippon India Large Cap Fund 3.9% - Larsen & Toubro Ltd: ICICI Prudential Large Cap Fund 3.8%, Nippon India Large Cap Fund 3.6% - Mahindra & Mahindra Ltd: ICICI Prudential Large Cap Fund 2.5%, Nippon India Large Cap Fund 2.5% - Sun Pharmaceuticals Industries Ltd: ICICI Prudential Large Cap Fund 2.1%, Nippon India Large Cap Fund 2.2% - Kotak Mahindra Bank Ltd: ICICI Prudential Large Cap Fund 2.5%, Nippon India Large Cap Fund 2.0% ## Foliyo’s research on each ### ICICI Prudential Large Cap Fund Rank 5 of 27, managed by Vaibhav Dusad (lead since Jan 2021) (Leader) Top rated: over 3 years it returned 9.6% a year against 9.3% for similar funds, at the same yearly fee of 1.01%, and it has led over longer stretches. Over 3 years the fund returned 9.6% a year, against 9.3% for similar funds, and over 5 years 9.1% a year, against 7.5%. Its yearly fee is 1.01%, the same as the 1.01% for similar funds. Over the last 3 years it has kept ahead of similar funds in every 3-year stretch, and it has finished in the better half of its group in each of the last 5 calendar years. Keep in mind that over the past year it returned -11.1%, against -9.0% for similar funds, and it fell somewhat less than the market in bad months, though not by much. The lead manager has been in place since January 2021. #### Pros - Ahead of the peer median in 100.0% of rolling 3-year periods (weekly, last 3 years) - 5-year return (a year) 9.1% vs peer median 7.5% - Ahead of the peer median in 75.8% of rolling 1-year periods (weekly, last 3 years) #### Cons - 1-year return -11.1% vs peer median -9.0% ### Nippon India Large Cap Fund Rank 2 of 27, managed by Sailesh Raj Bhan (lead since Aug 2007) (Leader) Top rated: over 3 years it returned 10.1% a year against 9.3% for similar funds, at a lower yearly fee of 0.88% against 1.01%. Over 3 years the fund returned 10.1% a year, against 9.3% for similar funds, and over 5 years 11.0% a year, against 7.5%. Its yearly fee is 0.88%, against 1.01% for similar funds. It has done better than similar funds in every one of the last 5 calendar years, and the same manager has led it since 2007. Keep in mind that over the last year it lost 10.4%, against a loss of 9.0% for similar funds, so its recent edge has narrowed. It fell somewhat less than the market in bad months, and it is a very large fund. #### Pros - The 3-year return is 10.1% against a peer median of 9.3%, and the 5-year return is 11.0% against 7.5%. - It was ahead of the peer median in 100.0% of rolling 3-year periods, and the lead manager (Sailesh Raj Bhan) has run it since Aug 2007. - The expense ratio is 0.88% against a peer median of 1.01%, and the 3-year Sharpe ratio is 0.29 against 0.24. #### Cons - The 1-year return is -10.4% against a peer median of -9.0%, and it was ahead of the median in 84.1% of rolling 1-year periods, so the recent edge has narrowed. - Downside capture is 89 and the fund is large at ₹51296 Cr. See where they stand among all large cap funds: [Best Large Cap Funds](https://foliyo.ai/mutual-funds/best-large-cap-funds/). ## How Foliyo’s research ranks funds Every month Foliyo’s Research Desk reviews each Indian mutual fund with at least ₹500 Cr under management (1,035 funds in the review of 23 October 2026), through its Direct Growth plan, and ranks it against the other funds in its category. No fund house pays us, and we earn no commission, so the ranking has no reason to favour anyone. For equity funds the ranking weighs: - **Performance (35%):** 3, 5 and 1-year returns, and where the fund stands among all funds in its category over 3 and 5 years. - **Consistency (25%):** how often the fund was ahead of its peers over rolling 1 and 3-year periods, and in how many calendar years it finished in the top half. - **Risk (25%):** return per unit of risk (Sharpe and Sortino ratios), how much of the market’s falls it took (downside capture), its worst fall and its volatility. - **Cost (10%) and stability (5%):** the expense ratio, and how long the lead manager has run the fund. Where a fund stands sets its label: **Leader** (the strongest in the category), **Strong**, **Steady** and **Laggard** (behind most of its peers). A fund under 3 years old is never judged on a full record: its first year is compared with every peer’s last year (1-year return 25%, steadiness against peers 15%, Sharpe ratio 15%, worst fall 10%, downside capture 10%, cost 15%), and it is labelled **Emerging** when that start is among the strongest, or **Too early** otherwise. Red flags are set by rule, never by opinion: a new lead manager, a portfolio that strays from the category’s mandate, high cash, high cost or a concentrated portfolio. ## Frequently asked questions ### Which is better, ICICI Prudential Large Cap Fund or Nippon India Large Cap Fund? On Foliyo’s research (review of 23 October 2026), ICICI Prudential Large Cap Fund is Leader (rank 5 of 27) and Nippon India Large Cap Fund is Leader (rank 2 of 27). Which suits you depends on your goals and what else you own; the ranking describes the past, not the future. ### Which has given higher returns, ICICI Prudential Large Cap Fund or Nippon India Large Cap Fund? Over 3 years ICICI Prudential Large Cap Fund returned 10.3% a year and Nippon India Large Cap Fund 11.0%; over 5 years 9.9% and 12.0% a year (Direct Growth, to 30 October 2026). ₹10 lakh invested 3 years ago would be ₹13.50 lakh and ₹13.74 lakh. ### Which has the lower expense ratio? ICICI Prudential Large Cap Fund charges 1.01% a year and Nippon India Large Cap Fund 0.88% (Direct plans). Regular plans of both cost more, because they include the distributor’s commission. ### How much do ICICI Prudential Large Cap Fund and Nippon India Large Cap Fund overlap? About 55% of the two portfolios overlap: they share 38 holdings, as of 30 September 2026. ### Should I invest in both ICICI Prudential Large Cap Fund and Nippon India Large Cap Fund? Two funds from the same category often hold many of the same companies (here about 55%), so a second one adds cost and paperwork more than diversification. A fee-only adviser can check how they fit with the rest of your portfolio: [talk to a Foliyo adviser](https://foliyo.ai/onboarding/details/). **About this research.** Labels, ranks and notes come from Foliyo’s Research Desk, led by Sachin Kabra, Principal Officer, which reviews every Indian mutual fund with at least ₹500 Cr under management against its category peers each month, using funds data. They describe how a fund has done, not how it will do, and they are not a recommendation to buy, hold or sell any fund. Mutual fund investments are subject to market risks; read all scheme-related documents carefully. Past performance is not indicative of future returns. Foliyo is the brand of Weekend Bytes Tech Private Limited, a SEBI-registered Investment Adviser (INA000023454). Registration granted by SEBI and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors. Foliyo earns no commission from any fund house. ## Related - [Best Large Cap funds](https://foliyo.ai/mutual-funds/best-large-cap-funds/) - [How to choose a large cap fund](https://foliyo.ai/guides/build-portfolio/best-large-cap-fund/) - [All Foliyo mutual fund research](https://foliyo.ai/mutual-funds/research/) ### Why hire a Foliyo Advisor? - Unbiased - No commissions, ever - SEBI-registered RIA - Best-in-class research