COMPARE
ICICI Prudential Value Fund (erstwhile Value Discovery Fund) - Direct Plan - Growth vs LIC MF Value Fund-Direct Plan-Growth
ICICI Prudential Value Fund (erstwhile Value Discovery Fund) and LIC MF Value Fund- are both in the Value Fund category, from ICICI Prudential Asset Management Company Limited and LIC Mutual Fund Asset Management Limited respectively. ICICI Prudential Value Fund (erstwhile Value Discovery Fund) has posted a higher 3-year rolling CAGR. ICICI Prudential Value Fund (erstwhile Value Discovery Fund) has the lower expense ratio. See the full table and FAQ below for the complete real-data comparison.
Basics
ICICI Prudential Value Fund (erstwhile Value Discovery Fund) has the lower direct-plan expense ratio, by 0.77 percentage points.
| ICICI Prudential Value Fund (erstwhile Value Discovery Fund) - Direct Plan - Growth | LIC MF Value Fund-Direct Plan-Growth | |
|---|---|---|
| Category | Value Fund | Value Fund |
| AMC | ICICI Prudential Asset Management Company Limited | LIC Mutual Fund Asset Management Limited |
| Benchmark | Nifty 500 TRI | Nifty 500 TRI |
| NAV | ₹481.1 (2026-10-28) | ₹29.5286 (2026-10-28) |
| AUM | ₹57,546.875 Cr | ₹356.863 Cr |
| Expense Ratio (Direct) | 1.09% | 1.86% |
| Inception | 2004-07-09 | 2018-07-30 |
Returns
ICICI Prudential Value Fund (erstwhile Value Discovery Fund) leads on 3-year rolling CAGR (20.5% vs LIC MF Value Fund-'s 17.3%) - see the FAQ below for percentile context within each fund's own category.
Risk Metrics
LIC MF Value Fund- has been the more volatile of the two by standard deviation.
| ICICI Prudential Value Fund (erstwhile Value Discovery Fund) - Direct Plan - Growth | LIC MF Value Fund-Direct Plan-Growth | |
|---|---|---|
| 3Y Sharpe Ratio | 0.28 | 0.40 |
| 3Y Alpha | 2.1913% | 5.72% |
| 3Y Std Deviation | 11.0617% | 17.8206% |
| 3Y Calmar Ratio | 0.72 | 0.56 |
Portfolio Analytics
LIC MF Value Fund- carries the higher portfolio P/E ratio (a rougher proxy for how richly the underlying holdings are valued) - see the table below for the full comparison.
| ICICI Prudential Value Fund (erstwhile Value Discovery Fund) - Direct Plan - Growth | LIC MF Value Fund-Direct Plan-Growth | |
|---|---|---|
| P/E Ratio | 15.1274 | 29.0845 |
| P/B Ratio | - | 6.5033 |
| Dividend Yield | 1.8373% | 0.948% |
| Active Share | 59.31% | 83.64% |
| Portfolio Turnover | 81% | 199% |
| YTM | 5.3594% | - |
| Duration (Macaulay) | - | - |
Punji Fund Health Score
ICICI Prudential Value Fund (erstwhile Value Discovery Fund) has the stronger Punji Quality grade of the two.
Frequently asked questions
Which has a higher 3-year return, ICICI Prudential Value Fund (erstwhile Value Discovery Fund) or LIC MF Value Fund-?
ICICI Prudential Value Fund (erstwhile Value Discovery Fund)'s 3-year rolling CAGR of 20.5% is higher than LIC MF Value Fund-'s 17.3%. ICICI Prudential Value Fund (erstwhile Value Discovery Fund) sits in the 86th percentile of its category on this metric, versus the 38th percentile for LIC MF Value Fund- - 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 Value Fund (erstwhile Value Discovery Fund) or LIC MF Value Fund-?
ICICI Prudential Value Fund (erstwhile Value Discovery Fund)'s direct-plan expense ratio is 0.77 percentage points lower than LIC MF Value Fund-'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 Value Fund (erstwhile Value Discovery Fund) or LIC MF Value Fund-?
By standard deviation (a measure of how much a fund's returns swing around its own average), LIC MF Value Fund- has been more volatile than ICICI Prudential Value Fund (erstwhile Value Discovery Fund) 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 (0.28 for ICICI Prudential Value Fund (erstwhile Value Discovery Fund) vs 0.40 for LIC MF Value Fund-) 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 Value Fund (erstwhile Value Discovery Fund) or LIC MF Value Fund-?
ICICI Prudential Value Fund (erstwhile Value Discovery Fund) has ₹57,547 Cr in assets under management, versus ₹357 Cr for LIC MF Value Fund-. 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 fund has a longer track record, ICICI Prudential Value Fund (erstwhile Value Discovery Fund) or LIC MF Value Fund-?
ICICI Prudential Value Fund (erstwhile Value Discovery Fund) launched on 2004-07-09, making it older than LIC MF Value Fund- (launched 2018-07-30). 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.