BANDHAN INNOVATION FUND vs ICICI Prudential Innovation Fund
BANDHAN INNOVATION FUND and ICICI Prudential Innovation Fund are both Innovation Funds. As of 6 Nov 2026 (Direct plan, Growth option): 3-year CAGR — vs +18.62%, 5-year CAGR — vs —, volatility 19.43% vs 14.83%, maximum drawdown −19.69% vs −16.51%. Their portfolios overlap by 24.3% (24 stocks held by both).
Showing the Direct plan, Growth option. Portfolio, sector and market-cap figures are the same for every plan and option of a fund.
Key facts
| BANDHAN INNOVATION | ICICI Prudential Innovation | |
|---|---|---|
| Fund house | Bandhan Mutual Fund | ICICI Prudential Mutual Fund |
| Compared as | Innovation Funds | Innovation Funds |
| NAV | ₹16.1440 | ₹19.9000 |
| NAV date | 6 Nov 2026 | 6 Nov 2026 |
| Launched (first NAV) | 2 May 2024 | 2 May 2023 |
| Track record | 2.5 yrs | 3.5 yrs |
| Fund size (AUM) | ₹3,085 Cr | ₹7,549 Cr |
| Securities held | 87 | 82 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| BANDHAN INNOVATION | ICICI Prudential Innovation | |
|---|---|---|
| 1 month | +0.76% | +1.89% |
| 3 months | +1.34% | −3.02% |
| 6 months | +13.67% | +3.22% |
| 1 year | +17.32% | +2.26% |
| 3 years (CAGR) | — | +18.62% |
| 5 years (CAGR) | — | — |
| 7 years (CAGR) | — | — |
| 10 years (CAGR) | — | — |
| Since launch (CAGR) | +20.68% | +21.48% |
| SIP return (XIRR, 5 years) ⓘ | — | — |
Up to one year: absolute return. Beyond one year: CAGR. Computed from each fund's own NAV history (AMFI), measured to the latest NAV.
Calendar-year returns
| BANDHAN INNOVATION | ICICI Prudential Innovation | |
|---|---|---|
| 2026 (year to date) | +18.33% | +0.10% |
| 2025 | +4.81% | +12.00% |
| 2024 | — | +30.13% |
Risk
| BANDHAN INNOVATION | ICICI Prudential Innovation | |
|---|---|---|
| Volatility (annualised) ⓘ | 19.43% | 14.83% |
| Downside volatility ⓘ | 12.50% | 10.11% |
| Sharpe ratio ⓘ | 0.73 | 0.82 |
| Sortino ratio ⓘ | 1.13 | 1.20 |
| Maximum drawdown ⓘ | −19.69% | −16.51% |
| Recovery from that fall | 5 months | 6 months |
| Current fall from peak | −1.34% | −3.54% |
| Rolling 1-year return: worst | +1.34% | −5.47% |
| Rolling 1-year return: median | +13.87% | +10.93% |
| Rolling 1-year return: best | +30.17% | +64.55% |
| Share of 1-year periods with a loss | 0.00% | 3.05% |
Against each fund's benchmark
| BANDHAN INNOVATION | ICICI Prudential Innovation | |
|---|---|---|
| Beta ⓘ | 1.10 | 0.95 |
| Alpha (Jensen's, annualised) ⓘ | +15.98% | +7.18% |
| R² ⓘ | 81.78 | 92.09 |
| Upside capture | 157.28% | 115.24% |
| Downside capture | 84.90% | 80.28% |
| Tracking error | 8.55% | 4.43% |
| Information ratio | 1.93 | 1.78 |
| Treynor ratio | 11.31 | 12.18 |
Portfolio
Asset mix
| BANDHAN INNOVATION | ICICI Prudential Innovation | |
|---|---|---|
| Equity | 98.54% | 94.81% |
| Cash & equivalents | 1.46% | 4.54% |
| Debt | 0.00% | 0.66% |
Market-cap split (share of fund assets)
| BANDHAN INNOVATION | ICICI Prudential Innovation | |
|---|---|---|
| Large Cap | 32.99% | 34.39% |
| Mid Cap | 22.28% | 28.12% |
| Small Cap | 38.45% | 31.39% |
| Unclassified | 4.82% | 0.90% |
Concentration
| BANDHAN INNOVATION | ICICI Prudential Innovation | |
|---|---|---|
| Top 10 holdings | 30.64% | 27.77% |
| Effective number of stocks ⓘ | 54.8 | 60.8 |
| Securities held | 87 | 82 |
Portfolio overlap: 24.3%
24 companies are held by both funds; by weight, 24.3% of the two portfolios is the same. That is a low overlap: the two portfolios are largely different.
| Held by both | BANDHAN INNOVATION | ICICI Prudential Innovation |
|---|---|---|
| Eternal Limited | 5.67% | 3.98% |
| ICICI Bank Limited | 2.90% | 4.73% |
| Divi's Laboratories Limited | 1.69% | 1.92% |
| Info Edge (India) Limited | 1.58% | 1.20% |
| TVS Motor Company Ltd. | 1.13% | 2.11% |
| Physicswallah Ltd. | 1.03% | 1.45% |
| ZF Commercial Vehicle Control Systems India Limited | 0.99% | 1.20% |
| Bharat Electronics Limited | 1.73% | 0.86% |
| Mahindra & Mahindra Limited | 2.02% | 0.86% |
| NTPC Limited | 1.00% | 0.86% |
| Coforge Limited | 2.16% | 0.81% |
| Amagi Media Labs Ltd. | 0.92% | 0.80% |
| Fortis Healthcare Limited | 0.90% | 0.79% |
| Biocon Ltd. | 0.78% | 1.09% |
| Multi Commodity Exchange of India Limited | 0.77% | 1.83% |
Top 10 holdings
BANDHAN INNOVATION
- Eternal Limited5.67%
- One 97 Communications Limited4.80%
- Bajaj Finserv Limited3.46%
- ICICI Bank Limited2.90%
- Meesho Ltd2.80%
- Sterlite Technologies Limited2.44%
- Astrazeneca Pharma India Ltd.2.41%
- Coforge Limited2.16%
- Mahindra & Mahindra Limited2.02%
- Reliance Industries Limited1.98%
ICICI Prudential Innovation
- ICICI Bank Limited4.73%
- Eternal Limited3.97%
- Axis Bank Limited2.88%
- Bharti Hexacom Limited2.72%
- Cummins India Limited2.38%
- Sagility Limited2.29%
- Maruti Suzuki India Limited2.25%
- Swiggy Limited2.25%
- Capillary Technologies India Ltd.2.18%
- TVS Motor Company Ltd.2.11%
Sector exposure
| BANDHAN INNOVATION | ICICI Prudential Innovation | |
|---|---|---|
| Retailing | 11.65% | 10.75% |
| Pharmaceuticals & Biotechnology | 9.04% | 7.89% |
| Healthcare Services | 3.86% | 8.38% |
| Banks | 3.86% | 8.23% |
| IT - Software | 2.98% | 7.55% |
| Automobiles | 4.35% | 7.39% |
| Finance | 6.51% | 0.00% |
| Capital Markets | 2.87% | 6.40% |
| Financial Technology (Fintech) | 5.19% | 0.56% |
| Electrical Equipment | 4.91% | 3.40% |
| Consumer Durables | 4.81% | 3.25% |
| Industrial Products | 1.66% | 4.71% |
| Telecom - Services | 0.00% | 4.25% |
| IT - Services | 4.04% | 3.62% |
Questions people ask
What is the difference between BANDHAN INNOVATION and ICICI Prudential Innovation returns?
As of 6 Nov 2026, Direct plan Growth option: 1-year return +17.32% vs +2.26%; 3-year CAGR — vs +18.62%; 5-year CAGR — vs —; 10-year CAGR — vs —. Past returns do not indicate future returns.
How do BANDHAN INNOVATION and ICICI Prudential Innovation compare on risk?
Volatility (36 monthly returns, annualised) 19.43% vs 14.83%; Sharpe ratio 0.73 vs 0.82; Sortino ratio 1.13 vs 1.20; maximum drawdown −19.69% vs −16.51%; beta 1.10 vs 0.95.
How much do BANDHAN INNOVATION and ICICI Prudential Innovation overlap?
By weight, 24.3% of the two portfolios is invested in the same companies; 24 stocks are held by both, the largest shared positions being Eternal Limited, ICICI Bank Limited, Divi's Laboratories Limited. Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of BANDHAN INNOVATION and ICICI Prudential Innovation?
BANDHAN INNOVATION: large cap 33.0%, mid cap 22.3%, small cap 38.5%. ICICI Prudential Innovation: large cap 34.4%, mid cap 28.1%, small cap 31.4% (share of the fund's assets, from its latest disclosed portfolio).
Is this a recommendation to choose one of these funds?
No. This page places the published figures of both funds side by side. It does not rank, rate or recommend either fund; which one suits an investor depends on their goals, horizon and risk tolerance.
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Sources: NAV from AMFI; returns, risk and ratios computed by MF Analyser from each fund's NAV history (risk on 36 monthly returns, risk-free rate 6.5%); benchmark ratios against each fund's benchmark total-return index; portfolios from each fund house's monthly disclosure. Returns and ratios as of 6 Nov 2026. IDCW options show no return or risk figures because payouts reduce the NAV and AMFI's file carries no payout history to add back. This page compares published figures only — it does not rank, rate or recommend either fund. Past performance does not indicate future returns; mutual fund investments are subject to market risks.