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HDFC Business Cycle Fund - Growth Option is an equity scheme managed by HDFC Mutual Fund. Over rolling three-year windows since inception, investors earned a median compounded return of 12.83%, with the bottom and top quartiles at 11.37% and 13.92% respectively. It has ranked in the top half of its category for 1 of the last 3 reported years. Risk-adjusted return (Sharpe ratio) is 0.00. The total expense ratio is 2.70% on assets of ₹2,604Cr. The fund is currently managed by Mr. Rahul Baijal, appointed within the last year.
Lower is better.
This scheme classifies as Large-Blend on the 3x3 equity style box, with 86% of its portfolio classified as of 2026-04-30.
| Holding | Sector |
|---|
| Window | Min | P25 | Median |
|---|
Point-in-time CAGRs cherry-pick a single start date. The chart below shows the distribution of every possible rolling start over the fund's history, so you see the range of investor outcomes — not just one date's number.
Backtested SIP outcomes across both rolling-window scenarios and named historical stress events (COVID, Election uncertainty, Russia/Ukraine, etc.), plus per-manager alpha during their tenure on this scheme.
Same fund, monthly SIPs over rolling 1/3/5-year windows.
| Scheme | AMC | AUM | TER | 3Y |
|---|
Mutual fund investments are subject to market risks. Read all scheme-related documents carefully. Past performance is not indicative of future results. MintByte is an AMFI-registered Mutual Fund Distributor (ARN-314872) and APMI member (APRN-01658). MintByte does not issue buy/sell recommendations on specific securities — the site is an educational data and analytics platform. Star ratings on this page reflect a 3-year category-quartile position computed in-house and are educational only.
Mutual fund schemes are subject to market risk. Read all scheme-related documents carefully before investing. Past performance is not indicative of future results. MintByte is an AMFI-registered mutual fund distributor (ARN-314872). MintByte does not issue buy/sell recommendations on specific securities — the site is an educational data and analytics platform. Not investment advice. Methodology · How we earn.
In-house derivations using 3-year daily NAV vs benchmark. See methodology.
| Weight |
|---|
| Bharti Airtel Ltd. | Communication Services | 6.21% |
| Eternal Limited | Consumer Cyclical | 5.19% |
| ICICI Bank Ltd. | Financial Services | 5.06% |
| Kotak Mahindra Bank Limited | Financial Services | 4.96% |
| Titan Company Ltd. | Consumer Cyclical | 4.33% |
| Anthem Biosciences Limited | Healthcare | 3.90% |
| HDFC Bank Ltd. | Financial Services | 3.59% |
| Fortis Healthcare Limited | Healthcare | 3.35% |
| Vishal Mega Mart Limited | Consumer Cyclical | 3.10% |
| InterGlobe Aviation Ltd. | Industrials | 2.74% |
| Cholamandalam Investment & Finance Co. Ltd. | Financial Services | 2.69% |
| Aptus Value Housing Finance India Ltd | Financial Services | 2.68% |
| Aether Industries Ltd | Basic Materials | 2.45% |
| Bajaj Auto Limited | Consumer Cyclical | 2.44% |
| Indusind Bank Ltd. | Financial Services | 2.31% |
| Clean Max Enviro Energy Solutions Limited | Utilities | 2.08% |
| Home First Finance Company India Ltd | Financial Services | 1.94% |
| Eris Lifesciences Ltd | Healthcare | 1.91% |
| PB Fintech Limited | Financial Services | 1.56% |
| ICICI PRUDENTIAL ASSET MANAGEMENT COMPANY LIMITED | Financial Services | 1.36% |
| Timken India Ltd. | Industrials | 1.28% |
| MANKIND PHARMA LIMITED | Healthcare | 1.25% |
| Swiggy Limited | Consumer Cyclical | 1.25% |
| CG Power and Industrial Solutions Ltd. | Industrials | 1.23% |
| PEARL GLOBAL INDUSTRIES LIMITED | Consumer Cyclical | 1.14% |
| Sector | Holdings | Weight |
|---|---|---|
| Banks | 5 | 16.33% |
| Retailing | 4 | 10.33% |
| Finance | 5 | 9.35% |
| Pharmaceuticals & Biotechnology | 4 | 8.15% |
| Telecom - Services | 1 | 6.21% |
| Consumer Durables | 2 | 4.61% |
| Chemicals & Petrochemicals | 2 | 3.49% |
| Healthcare Services | 1 | 3.35% |
| Power | 3 | 3.33% |
| Automobiles | 2 | 2.82% |
| Transport Services | 1 | 2.74% |
| Construction | 4 | 2.46% |
| Realty | 3 | 2.10% |
| Industrial Products | 3 | 2.05% |
| Financial Technology (Fintech) | 1 | 1.56% |
| Capital Markets | 2 | 1.45% |
| Aerospace & Defense | 2 | 1.24% |
| Electrical Equipment | 1 | 1.23% |
| Commercial Services & Supplies | 2 | 1.23% |
| Leisure Services | 2 | 1.14% |
| Textiles & Apparels | 1 | 1.14% |
| Sovereign | 1 | 1.09% |
| Cement & Cement Products | 1 | 0.94% |
| Auto Components | 1 | 0.82% |
| Agricultural, Commercial & Construction Vehicles | 2 | 0.77% |
| Transport Infrastructure | 1 | 0.76% |
| IT - Services | 1 | 0.72% |
| Beverages | 1 | 0.26% |
Active bets vs the average Equity fund. Biggest deviations shown first.
Accent bar = fund's actual sector weight. Vertical black tick = category average for the same sector. Green overlay = overweight, dashed red = underweight. The biggest active bets show first.
How crowded into the same stocks is this fund vs the largest fund in its category?
Category leader = highest-AUM scheme in the same SEBI category. A high overlap-of-weight number means the fund is concentrated into the same names as the leader (crowded); a low one means it's genuinely differentiated.
| P75 |
|---|
| Max |
|---|
| Positive % |
|---|
| 1Y | -6.55% | 2.11% | 6.97% | 30.14% | 38.26% | 85.3% |
| 3Y | 9.45% | 11.37% | 12.83% | 13.92% | 14.96% | 100.0% |
Each cell is one year. Q1 = top quartile within the AMFI category for that period. Cell label is the last two digits of the year.
Top-10 weight 42.4% means the portfolio is broad — even the top names don't dominate. Effective-N is the inverse Herfindahl index — a measure of "how many positions effectively drive the fund" after weighting. Category: Equity.
Compounding maths on a notional ₹10 lakh lumpsum at 12% gross annual return. Green bar is what you'd have without the fee; red overlay is the fee drag. Fee is constant in this scenario — actual outcomes depend on real returns and any future TER changes.
Each row is a back-tested SIP — monthly contribution over the regime's duration, no fees adjustment beyond NAV-baked TER. XIRR is the annualised IRR of those cashflows; Abs return is the absolute cash-on-cash; Max DD is the deepest drawdown experienced mid-investment. Past performance is not indicative of future results.
Alpha is the annualised excess return vs benchmark over the manager's tenure on this scheme. Beat-benchmark = total return beat the index over the same window.
| 5Y |
|---|
| Star |
|---|
| ICICI Prudential Business Cycle Fund Growth | ICICI Prudential Mutual Fund | ₹15,813 Cr | 1.68% | +17.97% | +16.00% | 5★ |
| quant Business Cycle Fund - Growth Option - Regular Plan | Quant Mutual Fund | ₹971 Cr | 3.49% | +17.86% | — | 3★ |
| HSBC Business Cycles Fund - Regular Growth | HSBC Mutual Fund | ₹1,149 Cr | 2.57% | +15.73% | — | 4★ |
| Baroda BNP Paribas Business Cycle Fund - Direct Plan - Growth | Baroda BNP Paribas Mutual Fund | ₹561 Cr | 0.98% | +15.33% | — | 5★ |
| Tata Business Cycle Fund-Regular Plan-Growth | Tata Mutual Fund | ₹2,637 Cr | 2.06% | +15.17% | — | 4★ |
| Axis Business Cycles Fund - Direct Plan - Growth | Axis Mutual Fund | ₹2,079 Cr | 1.99% | +14.94% | — | 4★ |
| Kotak Business Cycle Fund-Regular Plan--Growth | Kotak Mahindra Mutual Fund | ₹3,064 Cr | 2.00% | +14.86% | — | 4★ |
| Baroda BNP Paribas Business Cycle Fund - Regular Plan - Growth | Baroda BNP Paribas Mutual Fund | ₹561 Cr | 2.45% | +13.74% | — | 4★ |
| Axis Business Cycles Fund - Regular Plan - Growth | Axis Mutual Fund | ₹2,079 Cr | 3.16% | +13.43% | — | 4★ |
| Aditya Birla Sun Life Business Cycle Fund-Regular-Growth | Aditya Birla Sun Life Mutual Fund | ₹1,687 Cr | 2.08% | +11.81% | — | 3★ |