![ICICI Prudential Flexicap fund vs Parag Parikh Flexi Cap fund: Returns, portfolio and performance comparison [2025]](https://mangobunch.in/wp-content/uploads/2025/11/PPFAS-Flexi-Cap-vs-ICICI-Prud-Flexi-Cap.jpg)
ICICI Prudential Flexicap Fund and Parag Parikh Flexi Cap Fund are two highly regarded flexi cap mutual fund schemes that have attracted significant investor attention in India. ICICI Prudential offers aggressive domestic equity exposure with competitive costs, whilst Parag Parikh distinguishes itself through international diversification and a conservative balanced approach. This comprehensive comparison analyses returns, portfolio composition, expense ratios, and investment philosophies to help investors select the most suitable flexi cap fund for their financial goals.
ICICI Prudential Flexicap fund and Parag Parikh Flexi Cap fund: Key metrics at a glance
Here is a detailed comparison of essential fund parameters as of November 2025:
| Parameter | ICICI Prudential Flexicap Fund | Parag Parikh Flexi Cap Fund |
|---|---|---|
| NAV (21 Nov 2025) | ₹20.89 | ₹86.44 |
| Fund Size (AUM) | ₹19,620.81 Cr | ₹1,25,799.64 Cr |
| Expense Ratio | 0.77% | 1.28% |
| Crisil Rating | ⭐⭐⭐⭐ (4 Stars) | ⭐⭐⭐⭐⭐ (5 Stars) |
| Risk Level | Very High | Very High |
| Portfolio Turnover | 25.00% | 39.00% |
| Number of Stocks | 71 | 90 |
| Fund House | ICICI Prudential Mutual Fund | PPFAS Mutual Fund |
| Inception Date | 17-Jul-2021 | 24-May-2013 |
Parag Parikh Flexi Cap Fund manages the largest asset base amongst all Indian flexi cap funds at ₹1,25,799.64 crore—over six times larger than ICICI Prudential’s ₹19,620.81 crore. This substantial investor trust reflects Parag Parikh’s unique investment philosophy and consistent long-term performance. ICICI Prudential compensates with the lowest expense ratio in this comparison at just 0.77%, offering significant cost advantages for value-conscious investors.
ICICI Prudential Flexicap fund vs Parag Parikh Flexi Cap fund: One-year and short-term returns
Recent performance data reveals interesting patterns between these funds:
| Period | ICICI Prudential Returns | Parag Parikh Returns | Category Average |
|---|---|---|---|
| 1 Week | 0.48% | 0.43% | -0.22% |
| 1 Month | -0.67% | -0.46% | -0.26% |
| 3 Months | 4.45% | 2.12% | 1.88% |
| 6 Months | 10.06% | 4.94% | 5.23% |
| YTD | 9.83% | 6.74% | 3.36% |
| 1 Year | 12.74% | 9.58% | 6.78% |
ICICI Prudential Flexicap Fund has delivered superior one-year returns of 12.74% compared to Parag Parikh Flexi Cap Fund’s 9.58%. The six-month performance gap is particularly notable, with ICICI generating 10.06% against Parag Parikh’s 4.94%. Both funds comfortably exceed the category average of 6.78%, though ICICI’s aggressive domestic equity approach has yielded stronger recent results.
ICICI Prudential Flexicap fund and Parag Parikh Flexi Cap fund: Long-term returns comparison
Long-term performance is crucial for evaluating wealth creation potential:
| Period | ICICI Prudential Annualised Returns | Parag Parikh Annualised Returns | Category Average |
|---|---|---|---|
| 2 Years | 21.05% | 18.74% | 16.38% |
| 3 Years | 20.71% | 20.93% | 16.59% |
| 5 Years | N/A | 21.03% | 18.12% |
| 10 Years | N/A | 17.57% | 14.21% |
| Since Inception | 18.45% | 18.83% | 14.19% |
ICICI Prudential Flexicap Fund leads in two-year performance with 21.05% annualised returns versus Parag Parikh’s 18.74%. However, Parag Parikh edges ahead over three years with 20.93% compared to ICICI’s 20.71%. Launched in July 2021, ICICI Prudential lacks five and ten-year track records, whilst Parag Parikh’s impressive 21.03% five-year and 17.57% ten-year returns demonstrate proven long-term wealth creation capabilities.
ICICI Prudential Flexicap fund vs Parag Parikh Flexi Cap fund: SIP returns analysis
Systematic Investment Plan returns reflect disciplined investing outcomes:
| SIP Period | ICICI Absolute Returns | ICICI Annualised | Parag Parikh Absolute Returns | Parag Parikh Annualised |
|---|---|---|---|---|
| 1 Year (₹12,000 invested) | 10.18% | 19.31% | 5.52% | 10.33% |
| 2 Years (₹24,000 invested) | 16.14% | 15.08% | 13.23% | 12.41% |
| 3 Years (₹36,000 invested) | 33.75% | 19.79% | 30.37% | 17.96% |
| 5 Years (₹60,000 invested) | N/A | N/A | 57.20% | 18.12% |
| 10 Years (₹1,20,000 invested) | N/A | N/A | 176.39% | 19.29% |
ICICI Prudential Flexicap Fund demonstrates stronger short-term SIP performance with 10.18% one-year absolute returns versus Parag Parikh’s 5.52%. The three-year SIP comparison shows ICICI at 33.75% against Parag Parikh’s 30.37%. However, Parag Parikh’s extended track record reveals exceptional long-term SIP returns—176.39% absolute gains over 10 years with 19.29% annualised returns, showcasing the power of patient systematic investing.
ICICI Prudential Flexicap fund and Parag Parikh Flexi Cap fund: Portfolio allocation strategy
Portfolio composition reveals fundamentally different investment philosophies:
| Asset Class | ICICI Prudential Flexicap Fund | Parag Parikh Flexi Cap Fund |
|---|---|---|
| Total Equity | 96.39% | 77.47% |
| Domestic Equity | 96.39% | 65.97% |
| Foreign Equity | 0.00% | 11.50% |
| Debt | 0.28% | 11.94% |
| Others | 3.33% | 10.59% |
| Large Cap | 43.40% | 49.80% |
| Mid Cap | 13.73% | 2.29% |
| Small Cap | 6.58% | 2.84% |
The allocation differences are striking. ICICI Prudential maintains aggressive 96.39% equity exposure compared to Parag Parikh’s more conservative 77.47%. Parag Parikh’s distinctive feature is its 11.50% foreign equity allocation, providing international diversification unavailable in purely domestic funds. Additionally, Parag Parikh holds 11.94% in debt instruments, offering built-in downside protection during market corrections. ICICI’s higher mid-cap (13.73%) and small-cap (6.58%) exposure provides greater growth potential but with increased volatility.
ICICI Prudential Flexicap fund vs Parag Parikh Flexi Cap fund: Top 10 holdings comparison
Stock selection reflects each fund’s investment philosophy:
| Rank | ICICI Prudential Holdings | Sector | % | Parag Parikh Holdings | Sector | % |
|---|---|---|---|---|---|---|
| 1 | TVS Motor Company Ltd | 2/3 Wheelers | 9.47% | HDFC Bank Ltd | Private Banking | 8.02% |
| 2 | Maruti Suzuki India Ltd | Automobiles | 7.92% | Power Grid Corporation | Power Transmission | 6.00% |
| 3 | ICICI Bank Ltd | Private Banking | 6.80% | Bajaj Holdings & Investment | Holding Company | 5.20% |
| 4 | HDFC Bank Ltd | Private Banking | 5.02% | Coal India Ltd | Coal Mining | 5.01% |
| 5 | Avenue Supermarts Ltd | Retail | 4.73% | ITC Limited | Diversified FMCG | 4.64% |
| 6 | Infosys Ltd | IT Services | 3.40% | ICICI Bank Ltd | Private Banking | 4.63% |
| 7 | Ethos Ltd | Jewellery | 3.02% | Kotak Mahindra Bank | Private Banking | 4.04% |
| 8 | Larsen & Toubro Ltd | Construction | 2.62% | Alphabet Inc | Technology (Foreign) | 3.75% |
| 9 | Axis Bank Ltd | Private Banking | 2.54% | Maruti Suzuki India | Automobiles | 3.47% |
| 10 | Pi Industries Ltd | Agrochemicals | 2.49% | Bharti Airtel Ltd | Telecom | 3.46% |
ICICI Prudential Flexicap Fund demonstrates strong automobile sector conviction with TVS Motor and Maruti Suzuki as top holdings, complemented by banking and retail exposure. Parag Parikh Flexi Cap Fund offers broader diversification across power, FMCG, and holding companies, with unique exposure to Alphabet Inc (Google’s parent company)—a global technology leader unavailable in domestic-only funds. This international holding provides Indian investors access to world-class technology innovation.
ICICI Prudential Flexicap fund and Parag Parikh Flexi Cap fund: Expense ratio and cost comparison
Investment costs significantly impact long-term wealth creation:
| Cost Parameter | ICICI Prudential Flexicap Fund | Parag Parikh Flexi Cap Fund |
|---|---|---|
| Expense Ratio | 0.77% | 1.28% |
| Category Average | 1.89% | 1.89% |
| Cost Difference | Significantly Below Average | Below Average |
| Annual Cost on ₹10 Lakh | ₹7,700 | ₹12,800 |
| 10-Year Cost Impact on ₹10 Lakh | ₹77,000 | ₹1,28,000 |
| Cost Savings (ICICI vs Parag Parikh) | ₹5,100/year | – |
ICICI Prudential Flexicap Fund offers substantial cost advantage with a remarkably low 0.77% expense ratio—amongst the lowest in the flexi cap category. Parag Parikh’s 1.28% expense ratio, whilst below category average, results in approximately ₹5,100 additional annual cost per ₹10 lakh invested. Over a 10-year horizon, this difference amounts to ₹51,000 in savings, which compounds further when considering opportunity costs.
ICICI Prudential Flexicap fund vs Parag Parikh Flexi Cap fund: Risk metrics and Crisil ratings
Risk assessment helps investors understand fund quality and consistency:
| Risk Parameter | ICICI Prudential Flexicap Fund | Parag Parikh Flexi Cap Fund |
|---|---|---|
| Risk-O-Meter | Very High Risk | Very High Risk |
| Crisil Rating | 4 Stars | 5 Stars |
| Rating Description | Above Average Performance | Very Good Performance |
| Previous Rating | 3 Stars (Upgraded) | 5 Stars (Stable) |
| Portfolio Turnover | 25.00% | 39.00% |
| Number of Stocks | 71 | 90 |
| Foreign Exposure | None | 11.50% |
| Debt Allocation | 0.28% | 11.94% |
Parag Parikh Flexi Cap Fund’s 5-star Crisil rating reflects superior risk-adjusted performance compared to ICICI Prudential’s 4-star rating. However, ICICI’s recent upgrade from 3 to 4 stars indicates improving performance trajectory. Parag Parikh’s higher debt allocation (11.94%) and international diversification (11.50%) provide additional risk mitigation compared to ICICI’s aggressive 96.39% domestic equity exposure.
ICICI Prudential Flexicap fund and Parag Parikh Flexi Cap fund: International diversification advantage
Parag Parikh Flexi Cap Fund’s unique international exposure deserves detailed examination:
| International Investment Feature | ICICI Prudential | Parag Parikh |
|---|---|---|
| Foreign Equity Allocation | 0.00% | 11.50% |
| International Holdings | None | Alphabet Inc, Others |
| Currency Diversification | None | USD Exposure |
| Global Technology Access | None | Google Parent Company |
| Geographic Diversification | India Only | India + Developed Markets |
Parag Parikh’s 11.50% foreign equity allocation, including holdings in Alphabet Inc, provides Indian investors exposure to global technology innovation and developed market opportunities. During periods of rupee depreciation, foreign holdings potentially offer currency gains alongside capital appreciation. ICICI Prudential’s purely domestic focus limits such diversification benefits but maintains concentrated India growth exposure.
ICICI Prudential Flexicap fund and Parag Parikh Flexi Cap fund: Sector allocation comparison
Sector distribution reveals portfolio diversification levels:
| Sector | ICICI Prudential Weight | Parag Parikh Weight |
|---|---|---|
| Private Banking | ~14% | ~17% |
| Automobiles | ~17% | ~3.5% |
| Technology/IT | ~3.5% | ~3.75% (Foreign) |
| Power/Utilities | – | ~6% |
| FMCG | – | ~5% |
| Infrastructure | ~2.6% | – |
| Retail | ~4.7% | – |
| Diversified Holdings | – | ~5.2% |
ICICI Prudential Flexicap Fund demonstrates pronounced automobile sector conviction with approximately 17% allocation to TVS Motor and Maruti Suzuki. Parag Parikh maintains broader sector diversification across banking, power, FMCG, and holding companies, reducing single-sector concentration risk. This diversified approach potentially offers better downside protection during sector-specific corrections.
Which flexi cap fund is suitable for different investor profiles
Selecting between these funds requires understanding personal investment preferences:
| Investor Profile | Recommended Fund | Reason |
|---|---|---|
| Cost-conscious investors | ICICI Prudential Flexicap Fund | Lowest expense ratio (0.77%) |
| International diversification seekers | Parag Parikh Flexi Cap Fund | 11.50% foreign equity including Alphabet |
| Aggressive growth seekers | ICICI Prudential Flexicap Fund | Higher equity allocation (96.39%) |
| Conservative investors | Parag Parikh Flexi Cap Fund | Built-in debt cushion (11.94%) |
| Short-term performers | ICICI Prudential Flexicap Fund | Superior 1-year returns (12.74%) |
| Long-term wealth builders (10+ years) | Parag Parikh Flexi Cap Fund | Proven 10-year track record (17.57%) |
| Automobile sector bulls | ICICI Prudential Flexicap Fund | Heavy auto sector exposure |
| Technology sector believers | Parag Parikh Flexi Cap Fund | Alphabet Inc holding |
| First-time investors | Parag Parikh Flexi Cap Fund | 5-star rating, diversified approach |
ICICI Prudential Flexicap fund and Parag Parikh Flexi Cap fund: Fund manager track record
Understanding fund management expertise provides additional investment context:
| Fund Management Aspect | ICICI Prudential Flexicap Fund | Parag Parikh Flexi Cap Fund |
|---|---|---|
| Fund Age | 4+ Years (Since Jul 2021) | 12+ Years (Since May 2013) |
| Fund House Experience | Established AMC | Boutique AMC |
| Investment Philosophy | Aggressive Domestic Growth | Balanced Global Diversification |
| Track Record Length | Limited | Extensive |
| Investor Trust (AUM) | ₹19,621 Cr | ₹1,25,800 Cr |
Parag Parikh Flexi Cap Fund benefits from over a decade of operational history, allowing investors to evaluate performance across multiple market cycles. ICICI Prudential Flexicap Fund, launched in July 2021, has demonstrated strong performance during its operational period but lacks extended track record validation. Parag Parikh’s ₹1,25,800 crore AUM—the largest in the flexi cap category—reflects substantial investor confidence in its differentiated approach.
Final verdict: ICICI Prudential Flexicap fund vs Parag Parikh Flexi Cap fund
ICICI Prudential Flexicap Fund and Parag Parikh Flexi Cap Fund serve different investor needs within the flexi cap category. ICICI Prudential excels in cost efficiency with its industry-low 0.77% expense ratio and delivers superior short-term returns of 12.74% over one year. The fund’s aggressive 96.39% equity allocation with significant automobile and mid-cap exposure suits investors seeking maximum domestic equity growth potential.
Parag Parikh Flexi Cap Fund distinguishes itself through its 5-star Crisil rating, unique 11.50% international diversification including Alphabet Inc, and conservative 11.94% debt allocation. The fund’s proven 10-year track record with 17.57% annualised returns and exceptional SIP performance (176.39% absolute returns over 10 years) validates its long-term wealth creation capabilities. Its ₹1,25,800 crore AUM—the largest amongst flexi cap funds—demonstrates unparalleled investor trust.
Cost-conscious investors and those seeking aggressive domestic equity exposure should consider ICICI Prudential Flexicap Fund. Investors prioritising international diversification, built-in stability through debt allocation, and proven long-term track record should favour Parag Parikh Flexi Cap Fund. Both funds merit consideration as core flexi cap holdings based on individual investment objectives and risk preferences.
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.
