HDFC Manufacturing Fund vs ICICI Prudential Manufacturing Fund
HDFC Manufacturing Fund and ICICI Prudential Manufacturing Fund are both Manufacturing Funds. As of 5 Nov 2026 (Direct plan, Growth option): 3-year CAGR — vs +19.12%, 5-year CAGR — vs +17.69%, volatility 17.72% vs 18.11%, maximum drawdown −21.54% vs −37.63%. Their portfolios overlap by 34.4% (27 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
| HDFC Manufacturing | ICICI Prudential Manufacturing | |
|---|---|---|
| Fund house | HDFC Mutual Fund | ICICI Prudential Mutual Fund |
| Compared as | Manufacturing Funds | Manufacturing Funds |
| NAV | ₹12.0450 | ₹41.1300 |
| NAV date | 5 Nov 2026 | 5 Nov 2026 |
| Launched (first NAV) | 16 May 2024 | 12 Oct 2018 |
| Track record | 2.5 yrs | 8.1 yrs |
| Fund size (AUM) | ₹10,280 Cr | ₹6,918 Cr |
| Securities held | 91 | 70 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| HDFC Manufacturing | ICICI Prudential Manufacturing | |
|---|---|---|
| 1 month | +0.82% | +0.51% |
| 3 months | −2.36% | −6.07% |
| 6 months | +2.10% | −0.87% |
| 1 year | +5.78% | +5.11% |
| 3 years (CAGR) | — | +19.12% |
| 5 years (CAGR) | — | +17.69% |
| 7 years (CAGR) | — | +21.27% |
| 10 years (CAGR) | — | — |
| Since launch (CAGR) | +7.34% | +19.10% |
| SIP return (XIRR, 5 years) ⓘ | — | +17.44% |
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
| HDFC Manufacturing | ICICI Prudential Manufacturing | |
|---|---|---|
| 2026 (year to date) | +6.53% | +5.87% |
| 2025 | +8.17% | +10.43% |
| 2024 | — | +22.96% |
| 2023 | — | +48.55% |
| 2022 | — | +8.38% |
| 2021 | — | +46.50% |
Risk
| HDFC Manufacturing | ICICI Prudential Manufacturing | |
|---|---|---|
| Volatility (annualised) ⓘ | 17.72% | 18.11% |
| Downside volatility ⓘ | 12.48% | 11.81% |
| Sharpe ratio ⓘ | 0.05 | 0.70 |
| Sortino ratio ⓘ | 0.07 | 1.07 |
| Maximum drawdown ⓘ | −21.54% | −37.63% |
| Recovery from that fall | 14 months | 8 months |
| Current fall from peak | −2.88% | −6.59% |
| Rolling 1-year return: worst | −4.17% | −34.45% |
| Rolling 1-year return: median | +6.75% | +13.81% |
| Rolling 1-year return: best | +23.47% | +110.69% |
| Share of 1-year periods with a loss | 14.48% | 11.47% |
Against each fund's benchmark
| HDFC Manufacturing | ICICI Prudential Manufacturing | |
|---|---|---|
| Beta ⓘ | 1.03 | 1.10 |
| Alpha (Jensen's, annualised) ⓘ | +2.25% | +6.74% |
| R² ⓘ | 87.82 | 85.28 |
| Upside capture | 108.72% | 127.36% |
| Downside capture | 98.86% | 99.66% |
| Tracking error | 6.17% | 7.33% |
| Information ratio | 0.32 | 1.03 |
| Treynor ratio | -2.01 | 10.20 |
Portfolio
Asset mix
| HDFC Manufacturing | ICICI Prudential Manufacturing | |
|---|---|---|
| Equity | 97.24% | 96.93% |
| Foreign Securities | 2.03% | 0.00% |
| Cash & equivalents | 0.73% | 2.88% |
| Debt | 0.00% | 0.16% |
Market-cap split (share of fund assets)
| HDFC Manufacturing | ICICI Prudential Manufacturing | |
|---|---|---|
| Large Cap | 49.79% | 50.87% |
| Mid Cap | 14.66% | 21.69% |
| Small Cap | 31.74% | 23.51% |
| Unclassified | 1.05% | 0.89% |
Concentration
| HDFC Manufacturing | ICICI Prudential Manufacturing | |
|---|---|---|
| Top 10 holdings | 32.58% | 38.97% |
| Effective number of stocks ⓘ | 50.8 | 40.1 |
| Securities held | 91 | 70 |
Portfolio overlap: 34.4%
27 companies are held by both funds; by weight, 34.4% of the two portfolios is the same. That is a moderate overlap.
| Held by both | HDFC Manufacturing | ICICI Prudential Manufacturing |
|---|---|---|
| Reliance Industries Limited | 4.50% | 5.90% |
| Mahindra & Mahindra Limited | 3.50% | 5.16% |
| Maruti Suzuki India Limited | 3.33% | 3.91% |
| JSW Steel Limited | 3.29% | 3.03% |
| Cummins India Limited | 2.06% | 2.65% |
| Bharat Electronics Limited | 2.42% | 2.05% |
| Sun Pharmaceutical Industries Limited | 1.90% | 3.91% |
| Hyundai Motor India Ltd. | 1.66% | 3.23% |
| Vedanta Aluminium Metal Limited | 1.65% | 2.43% |
| Godrej Consumer Products Ltd. | 1.32% | 1.78% |
| Hindalco Industries Limited | 1.19% | 1.93% |
| Ambuja Cements Ltd. | 1.78% | 1.11% |
| Gland Pharma Limited | 1.44% | 1.00% |
| Crompton Greaves Consumer Electricals Limited | 0.91% | 0.97% |
| Siemens Limited | 0.72% | 1.91% |
Top 10 holdings
HDFC Manufacturing
- Divi's Laboratories Limited6.01%
- Reliance Industries Limited4.50%
- Mahindra & Mahindra Limited3.50%
- Maruti Suzuki India Limited3.33%
- JSW Steel Limited3.29%
- Tata Motors Ltd2.87%
- Bharat Electronics Limited2.42%
- Hindustan Aeronautics Limited2.38%
- Bajaj Auto Limited2.22%
- Cummins India Limited2.06%
ICICI Prudential Manufacturing
- Reliance Industries Limited5.90%
- Mahindra & Mahindra Limited5.16%
- Dr. Reddy's Laboratories Limited4.67%
- Sun Pharmaceutical Industries Limited3.91%
- Maruti Suzuki India Limited3.91%
- Larsen & Toubro Limited3.31%
- Hyundai Motor India Ltd.3.23%
- JSW Steel Limited3.03%
- Samvardhana Motherson International Limited2.99%
- UltraTech Cement Limited2.85%
Sector exposure
| HDFC Manufacturing | ICICI Prudential Manufacturing | |
|---|---|---|
| Pharmaceuticals & Biotechnology | 15.68% | 14.60% |
| Automobiles | 13.01% | 14.60% |
| Industrial Products | 7.97% | 8.99% |
| Auto Components | 8.56% | 4.19% |
| Electrical Equipment | 6.32% | 8.51% |
| Aerospace & Defense | 8.37% | 2.05% |
| Petroleum Products | 8.01% | 5.90% |
| Cement & Cement Products | 2.40% | 6.95% |
| Chemicals & Petrochemicals | 3.11% | 5.40% |
| Ferrous Metals | 4.04% | 5.33% |
| Agricultural, Commercial & Construction Vehicles | 4.74% | 0.00% |
| Consumer Durables | 4.59% | 3.93% |
| Non - Ferrous Metals | 2.84% | 4.36% |
| Industrial Manufacturing | 4.21% | 1.50% |
Questions people ask
What is the difference between HDFC Manufacturing and ICICI Prudential Manufacturing returns?
As of 5 Nov 2026, Direct plan Growth option: 1-year return +5.78% vs +5.11%; 3-year CAGR — vs +19.12%; 5-year CAGR — vs +17.69%; 10-year CAGR — vs —. Past returns do not indicate future returns.
How do HDFC Manufacturing and ICICI Prudential Manufacturing compare on risk?
Volatility (36 monthly returns, annualised) 17.72% vs 18.11%; Sharpe ratio 0.05 vs 0.70; Sortino ratio 0.07 vs 1.07; maximum drawdown −21.54% vs −37.63%; beta 1.03 vs 1.10.
How much do HDFC Manufacturing and ICICI Prudential Manufacturing overlap?
By weight, 34.4% of the two portfolios is invested in the same companies; 27 stocks are held by both, the largest shared positions being Reliance Industries Limited, Mahindra & Mahindra Limited, Maruti Suzuki India Limited. Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of HDFC Manufacturing and ICICI Prudential Manufacturing?
HDFC Manufacturing: large cap 49.8%, mid cap 14.7%, small cap 31.7%. ICICI Prudential Manufacturing: large cap 50.9%, mid cap 21.7%, small cap 23.5% (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 5 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.