Business Cycle funds in India
36 sectoral and thematic plans in the business cycle theme, rated against each other and their sector index. Data as of 5 Nov 2026.
Direct plans (18)
| Fund | Rating | 1Y return | 3Y return | 3Y vs index | Expense ratio | AUM |
|---|---|---|---|---|---|---|
| Mahindra Manulife Business Cycle FundMahindra Manulife Mutual Fund · 3.1 yrs | A+ | 2.1% | 17.7% | +5.7% | 0.92% | ₹1,349 cr |
| Kotak Business Cycle FundKotak Mahindra Mutual Fund · 4.1 yrs | A+ | 6.7% | 17.8% | +5.8% | 0.74% | ₹3,441 cr |
| ICICI Prudential Business Cycle FundICICI Prudential Mutual Fund · 5.8 yrs | A | -1.9% | 16.1% | +4.1% | 1.04% | ₹15,842 cr |
| HSBC Business Cycles FundHSBC Mutual Fund · 3.9 yrs | A | 1.6% | 16.7% | +4.6% | 1.12% | ₹1,200 cr |
| Aditya Birla Sun Life Business Cycle FundAditya Birla Sun Life Mutual Fund · 4.9 yrs | B | 4.6% | 13.9% | +1.9% | 1.51% | ₹1,791 cr |
| Baroda BNP Paribas Business Cycle FundBaroda BNP Paribas Mutual Fund · 5.1 yrs | B | 3.8% | 14.2% | +2.2% | 1.09% | ₹561 cr |
| Axis Business Cycles FundAxis Mutual Fund · 3.7 yrs | B | 2.2% | 13.7% | +1.7% | 1.63% | ₹2,127 cr |
| Tata Business Cycle FundTata Mutual Fund · 5.2 yrs | B | -3.9% | 10.8% | -1.2% | 0.91% | ₹2,604 cr |
| HDFC Business Cycle FundHDFC Mutual Fund · 3.9 yrs | C | 2.6% | 12.1% | +0.1% | 1.15% | ₹2,744 cr |
| quant Business Cycle Fundquant Mutual Fund · 3.4 yrs | C | 6.0% | 12.0% | -0.0% | 1.43% | ₹985 cr |
| Bandhan Business Cycle FundBandhan Mutual Fund · 2.1 yrs | – | -2.9% | – | – | 1.02% | ₹1,128 cr |
| Bank of India Business Cycle FundBank of India Mutual Fund · 2.2 yrs | – | 2.6% | – | – | 1.40% | ₹458 cr |
| DSP Business Cycle FundDSP Mutual Fund · 1.9 yrs | – | 2.8% | – | – | 1.10% | ₹1,423 cr |
| Edelweiss Business Cycle FundEdelweiss Mutual Fund · 2.3 yrs | – | 2.8% | – | – | 1.22% | ₹1,432 cr |
| ITI Business Cycle FundITI Mutual Fund · 0.7 yrs | – | – | – | – | 1.62% | ₹116 cr |
| Invesco India Business Cycle FundInvesco Mutual Fund · 1.7 yrs | – | 15.4% | – | – | 0.83% | ₹1,330 cr |
| Sundaram Business Cycle FundSundaram Mutual Fund · 2.4 yrs | – | -1.8% | – | – | 1.03% | ₹1,709 cr |
| Union Business Cycle FundUnion Mutual Fund · 2.7 yrs | – | 3.3% | – | – | 1.78% | ₹511 cr |
Regular plans (18)
| Fund | Rating | 1Y return | 3Y return | 3Y vs index | Expense ratio | AUM |
|---|---|---|---|---|---|---|
| Kotak Business Cycle FundKotak Mahindra Mutual Fund · 4.1 yrs | A+ | 5.3% | 16.2% | +4.2% | 2.02% | ₹3,441 cr |
| Mahindra Manulife Business Cycle FundMahindra Manulife Mutual Fund · 3.1 yrs | A+ | 0.6% | 15.8% | +3.8% | 2.42% | ₹1,349 cr |
| ICICI Prudential Business Cycle FundICICI Prudential Mutual Fund · 5.8 yrs | A | -2.8% | 15.0% | +3.0% | 1.86% | ₹15,842 cr |
| HSBC Business Cycles FundHSBC Mutual Fund · 3.9 yrs | A | 0.4% | 15.3% | +3.3% | 2.32% | ₹1,200 cr |
| Aditya Birla Sun Life Business Cycle FundAditya Birla Sun Life Mutual Fund · 4.9 yrs | B | 3.7% | 12.7% | +0.7% | 2.47% | ₹1,791 cr |
| Axis Business Cycles FundAxis Mutual Fund · 3.7 yrs | B | 1.1% | 12.3% | +0.3% | 2.37% | ₹2,127 cr |
| HDFC Business Cycle FundHDFC Mutual Fund · 3.9 yrs | B | 1.5% | 10.9% | -1.1% | 2.13% | ₹2,744 cr |
| Baroda BNP Paribas Business Cycle FundBaroda BNP Paribas Mutual Fund · 5.1 yrs | B | 2.3% | 12.6% | +0.6% | 2.54% | ₹561 cr |
| Tata Business Cycle FundTata Mutual Fund · 5.2 yrs | C | -5.1% | 9.2% | -2.8% | 2.18% | ₹2,604 cr |
| quant Business Cycle Fundquant Mutual Fund · 3.4 yrs | C | 4.4% | 10.3% | -1.7% | 2.83% | ₹985 cr |
| Bandhan Business Cycle FundBandhan Mutual Fund · 2.1 yrs | – | -4.4% | – | – | 2.45% | ₹1,128 cr |
| Bank of India Business Cycle FundBank of India Mutual Fund · 2.2 yrs | – | 1.3% | – | – | 2.68% | ₹458 cr |
| DSP Business Cycle FundDSP Mutual Fund · 1.9 yrs | – | 1.3% | – | – | 2.51% | ₹1,423 cr |
| Edelweiss Business Cycle FundEdelweiss Mutual Fund · 2.3 yrs | – | 1.3% | – | – | 2.68% | ₹1,432 cr |
| ITI Business Cycle FundITI Mutual Fund · 0.7 yrs | – | – | – | – | 3.38% | ₹116 cr |
| Invesco India Business Cycle FundInvesco Mutual Fund · 1.7 yrs | – | 13.7% | – | – | 2.27% | ₹1,330 cr |
| Sundaram Business Cycle FundSundaram Mutual Fund · 2.4 yrs | – | -3.2% | – | – | 2.51% | ₹1,709 cr |
| Union Business Cycle FundUnion Mutual Fund · 2.7 yrs | – | 2.2% | – | – | 3.03% | ₹511 cr |
Common questions
How many business cycle funds are there in India?
18 schemes (36 plans) as of 5 Nov 2026.
Have business cycle funds beaten their index?
7 of 10 Regular plans with 3 years of history beat their benchmark's total-return index over the last 3 years.
Are sectoral and thematic funds risky?
More than diversified funds: they put most of the money into one sector or theme, so returns swing more and can lag for years. Most investors keep them to a small part of the portfolio.
Ratings describe past track records and are not a recommendation. Read the scheme documents before investing.