HDFC Flexi Cap fund vs ICICI Prudential Flexicap fund: Returns, portfolio and performance comparison [2025]

Flexi cap mutual funds have become increasingly popular amongst Indian investors seeking diversified equity exposure across market capitalisations. HDFC Flexi Cap Fund and ICICI Prudential Flexicap Fund are two leading schemes in this category, both offering investors the flexibility to invest across large-cap, mid-cap, and small-cap stocks based on prevailing market conditions. This comprehensive comparison examines the returns, portfolio composition, expense ratios, and investment strategies of both funds to help investors make informed decisions.

HDFC Flexi Cap fund and ICICI Prudential Flexicap fund: Key metrics at a glance

Before diving into detailed analysis, here is a quick comparison of essential fund parameters as of November 2025:

HDFC Flexi Cap fund vs ICICI Prudential Flexicap fund: One-year and short-term returns

Both funds have demonstrated impressive performance over the past year, significantly outperforming the category average. HDFC Flexi Cap Fund has delivered marginally superior returns, cementing its position as a top performer in the flexi cap category.

HDFC Flexi Cap Fund has generated 13.09% returns over one year, whilst ICICI Prudential Flexicap Fund delivered 12.74% during the same period. Both funds have nearly doubled the flexi cap category average of 6.78%, highlighting their strong fund management capabilities and stock selection prowess.

HDFC Flexi Cap fund and ICICI Prudential Flexicap fund: Long-term returns comparison

Long-term performance remains crucial for wealth creation through equity mutual funds. Here is how both funds compare across extended investment horizons:

HDFC Flexi Cap Fund demonstrates consistent outperformance across all time periods, with three-year annualised returns of 21.82% compared to ICICI Prudential’s 20.71%. The five-year returns of 26.32% for HDFC showcase exceptional wealth creation potential for patient investors. ICICI Prudential Flexicap Fund, launched in July 2021, has delivered competitive returns of 18.45% since inception, reflecting strong performance during its operational period.

HDFC Flexi Cap fund vs ICICI Prudential Flexicap fund: SIP returns analysis

Systematic Investment Plans remain the preferred route for retail investors entering equity markets. Both funds have rewarded disciplined SIP investors with healthy returns:

For one-year SIP investments, ICICI Prudential Flexicap Fund has delivered superior absolute returns of 10.18% compared to HDFC’s 8.27%. However, over three years, HDFC Flexi Cap Fund’s SIP returns edge ahead with 35.13% absolute gains versus ICICI’s 33.75%, demonstrating the benefits of longer-term systematic investing.

HDFC Flexi Cap fund and ICICI Prudential Flexicap fund: Portfolio allocation strategy

Understanding portfolio allocation helps investors assess fund managers’ market outlook and risk management approach. Here is how both funds allocate investments across asset classes:

HDFC Flexi Cap Fund maintains a more conservative approach with 60.11% allocation to large-cap stocks, providing stability during market volatility. ICICI Prudential Flexicap Fund adopts a more aggressive stance with higher mid-cap exposure (13.73%) and small-cap allocation (6.58%), potentially offering greater growth opportunities during bull markets.

HDFC Flexi Cap fund vs ICICI Prudential Flexicap fund: Top 10 holdings comparison

Stock selection drives mutual fund performance. Both funds display distinct preferences in their top holdings:

HDFC Flexi Cap Fund demonstrates a pronounced banking sector concentration, with five private and public sector banks featuring in top ten holdings. ICICI Prudential Flexicap Fund displays greater sector diversification, with significant exposure to automobile manufacturers, retail, and technology companies alongside banking stocks.

HDFC Flexi Cap fund and ICICI Prudential Flexicap fund: Expense ratio and cost comparison

Investment costs directly impact net returns over time. The expense ratio comparison reveals significant differences:

ICICI Prudential Flexicap Fund offers a substantial cost advantage with its 0.77% expense ratio, nearly half of HDFC’s 1.36%. For a ₹10 lakh investment, investors save approximately ₹5,900 annually by choosing ICICI Prudential. Over a 10-year investment horizon, this cost difference can compound into meaningful savings.

HDFC Flexi Cap fund vs ICICI Prudential Flexicap fund: Risk metrics and ratings

Both funds carry identical risk classifications but differ in their Crisil ratings:

HDFC Flexi Cap Fund’s 5-star Crisil rating reflects very good performance amongst peers, whilst ICICI Prudential’s recent upgrade from 3 to 4 stars indicates improving fund performance. The lower portfolio turnover of HDFC (17.30% vs 25.00%) suggests a more stable, buy-and-hold investment approach with potentially lower transaction costs.

Which flexi cap fund is suitable for different investor profiles

Choosing between HDFC Flexi Cap Fund and ICICI Prudential Flexicap Fund depends on individual investment objectives and preferences:

Final verdict: HDFC Flexi Cap fund vs ICICI Prudential Flexicap fund

Both HDFC Flexi Cap Fund and ICICI Prudential Flexicap Fund represent quality investment options within the flexi cap category. HDFC Flexi Cap Fund edges ahead with superior long-term returns, a 5-star Crisil rating, and a more established track record spanning decades. The fund’s conservative large-cap oriented approach suits investors seeking stability with growth potential.

ICICI Prudential Flexicap Fund appeals to cost-conscious investors with its competitive 0.77% expense ratio and offers greater mid-cap exposure for potentially higher growth. The fund’s recent rating upgrade signals improving performance trajectory. Investors should align their choice with personal risk tolerance, investment horizon, and cost sensitivity whilst considering both funds for diversified flexi cap exposure in their portfolio.

Disclaimer: Mutual fund investments are subject to market risks. Past performance does not guarantee future returns. Investors should consult financial advisors before making investment decisions.