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ICICI Prudential Retirement Fund - Hybrid Conservative - Direct Plan - Growth Option vs Nippon India Retirement Fund- Income Generation Scheme- Direct Plan- Growth Plan - Growth Option
ICICI Prudential Retirement Fund - Hybrid Conservative and Nippon India Retirement Fund- Income Generation Scheme- are both in the Retirement Fund category, from ICICI Prudential Asset Management Company Limited and Nippon Life India Asset Management Limited respectively. ICICI Prudential Retirement Fund - Hybrid Conservative has posted a higher 3-year rolling CAGR. Nippon India Retirement Fund- Income Generation Scheme- has the lower expense ratio. See the full table and FAQ below for the complete real-data comparison.
Basics
Nippon India Retirement Fund- Income Generation Scheme- has the lower direct-plan expense ratio, by 0.07 percentage points.
| ICICI Prudential Retirement Fund - Hybrid Conservative - Direct Plan - Growth Option | Nippon India Retirement Fund- Income Generation Scheme- Direct Plan- Growth Plan - Growth Option | |
|---|---|---|
| Category | Retirement Fund | Retirement Fund |
| AMC | ICICI Prudential Asset Management Company Limited | Nippon Life India Asset Management Limited |
| Benchmark | NIFTY 50 Hybrid Composite Debt 15:85 Index | CRISIL Hybrid 85+15 - Conservative Index |
| NAV | ₹19.6899 (2026-10-28) | ₹22.6887 (2026-10-28) |
| AUM | ₹93.99 Cr | ₹136.791 Cr |
| Expense Ratio (Direct) | 1.05% | 0.98% |
| Inception | 2019-02-07 | 2015-01-22 |
Returns
ICICI Prudential Retirement Fund - Hybrid Conservative leads on 3-year rolling CAGR (9.8% vs Nippon India Retirement Fund- Income Generation Scheme-'s 8.1%) - see the FAQ below for percentile context within each fund's own category.
Risk Metrics
ICICI Prudential Retirement Fund - Hybrid Conservative has been the more volatile of the two by standard deviation.
Portfolio Analytics
Nippon India Retirement Fund- Income Generation Scheme- carries the higher portfolio YTM.
| ICICI Prudential Retirement Fund - Hybrid Conservative - Direct Plan - Growth Option | Nippon India Retirement Fund- Income Generation Scheme- Direct Plan- Growth Plan - Growth Option | |
|---|---|---|
| P/E Ratio | 11.4737 | 20.788 |
| P/B Ratio | 3.84 | - |
| Dividend Yield | 0.9478% | 1.1909% |
| Active Share | - | - |
| Portfolio Turnover | - | - |
| YTM | 7.5689% | 8.713% |
| Duration (Macaulay) | 4.523 yrs | 8.713 yrs |
Punji Fund Health Score
ICICI Prudential Retirement Fund - Hybrid Conservative has the stronger Punji Quality grade of the two.
Frequently asked questions
Which has a higher 3-year return, ICICI Prudential Retirement Fund - Hybrid Conservative or Nippon India Retirement Fund- Income Generation Scheme-?
ICICI Prudential Retirement Fund - Hybrid Conservative's 3-year rolling CAGR of 9.8% is higher than Nippon India Retirement Fund- Income Generation Scheme-'s 8.1%. ICICI Prudential Retirement Fund - Hybrid Conservative sits in the 44th percentile of its category on this metric, versus the 15th percentile for Nippon India Retirement Fund- Income Generation Scheme- - though note both funds may belong to different categories with different medians, so a raw CAGR comparison doesn't account for how each fund performed relative to its own peers. A higher historical return also doesn't necessarily mean lower risk; check the risk metrics below before concluding either fund is the "better" choice.
Which has a lower expense ratio, ICICI Prudential Retirement Fund - Hybrid Conservative or Nippon India Retirement Fund- Income Generation Scheme-?
Nippon India Retirement Fund- Income Generation Scheme-'s direct-plan expense ratio is 0.07 percentage points lower than ICICI Prudential Retirement Fund - Hybrid Conservative's. Over long holding periods, a persistent expense-ratio gap compounds into a materially different final corpus even if the two funds' gross returns are similar - it's one of the few fund attributes you can compare with total certainty upfront, unlike future returns, since the fee is contractually fixed rather than a historical estimate.
Which fund carries more risk, ICICI Prudential Retirement Fund - Hybrid Conservative or Nippon India Retirement Fund- Income Generation Scheme-?
By standard deviation (a measure of how much a fund's returns swing around its own average), ICICI Prudential Retirement Fund - Hybrid Conservative has been more volatile than Nippon India Retirement Fund- Income Generation Scheme- over the trailing window. Standard deviation captures total volatility in both directions - up and down - so a higher figure means bigger swings generally, not necessarily bigger losses specifically. Sharpe ratio (0.33 for ICICI Prudential Retirement Fund - Hybrid Conservative vs -0.22 for Nippon India Retirement Fund- Income Generation Scheme-) is a better single measure of risk-adjusted return, since it weighs the return earned per unit of volatility taken rather than volatility alone.
Which has higher AUM, ICICI Prudential Retirement Fund - Hybrid Conservative or Nippon India Retirement Fund- Income Generation Scheme-?
Nippon India Retirement Fund- Income Generation Scheme- has ₹137 Cr in assets under management, versus ₹94 Cr for ICICI Prudential Retirement Fund - Hybrid Conservative. A larger AUM generally means deeper liquidity and lower per-unit fixed costs for the AMC to spread across investors, but an AUM that's very large relative to a fund's category and strategy (especially in small/mid cap categories, where the investable universe is smaller) can also make it harder for a manager to enter and exit positions without moving the price - bigger isn't automatically better, especially for less liquid categories.
Which has a higher yield to maturity (YTM), ICICI Prudential Retirement Fund - Hybrid Conservative or Nippon India Retirement Fund- Income Generation Scheme-?
Nippon India Retirement Fund- Income Generation Scheme-'s portfolio YTM (8.713%) is higher than ICICI Prudential Retirement Fund - Hybrid Conservative's. YTM is the weighted-average return a debt fund's current bond holdings would earn if held to maturity, assuming no defaults and coupons reinvested at the same rate - a useful forward-looking yield estimate for debt funds the way rolling CAGR is for equity funds, though it's an estimate based on today's portfolio, not a guaranteed return, and can move as bonds are bought/sold or as interest rates change.
Which has longer duration (more interest-rate sensitivity), ICICI Prudential Retirement Fund - Hybrid Conservative or Nippon India Retirement Fund- Income Generation Scheme-?
Nippon India Retirement Fund- Income Generation Scheme- has the longer Macaulay duration of the two, meaning its NAV is more sensitive to interest-rate changes - a longer-duration debt fund tends to gain more when rates fall and lose more when rates rise, compared to a shorter-duration fund. Duration is expressed in years but isn't literally about how long you hold the fund; it's a measure of price sensitivity to rate moves. If you expect rates to fall, the longer-duration fund benefits more; if you expect rates to rise or want to minimize that swing, the shorter-duration fund is the more conservative pick.
Which fund has a longer track record, ICICI Prudential Retirement Fund - Hybrid Conservative or Nippon India Retirement Fund- Income Generation Scheme-?
Nippon India Retirement Fund- Income Generation Scheme- launched on 2015-01-22, making it older than ICICI Prudential Retirement Fund - Hybrid Conservative (launched 2019-02-07). A longer track record means more real market cycles (bull runs, corrections, rate cycles) the fund has actually navigated, which is useful context for judging consistency - but it isn't a guarantee of future performance, and a newer fund isn't automatically worse, especially if it's run by an experienced manager or team with a track record at a prior fund.
Data as of 2026-10-29. Source: AMFI disclosures via Punji. Not investment advice.