HDFC Business Cycle Fund
The scheme seeks to provide long-term capital appreciation by investing predominantly in equity and equity related securities with a focus on riding business cycles through dynamic allocation between various sectors and stocks at different stages of business cycles.
Growthvine rating: 4/5 — ranked #44 of 186 in category.
Fund basics
| Category | Equity: Thematic |
|---|
| NAV | ₹14.23 (as of 2026-10-22) |
|---|
| AUM | ₹2,646 Cr |
|---|
| Expense ratio | 1.70% |
|---|
| Riskometer | Very High |
|---|
| Fund manager | Rahul Baijal |
|---|
| Exit load | 1% for redemption within 365 days |
|---|
Performance & risk
| Sharpe ratio | 0.3 |
|---|
| Standard deviation | 15.42% |
|---|
| Max drawdown | −19.40% |
|---|
| Alpha | 0.41 |
|---|
| Beta | 0.94 |
|---|
Over 5 years, captured 94.9% of Nifty 500's upside and 86.0% of its downside.
Market cap allocation
| Large cap | 41.3% |
|---|
| Mid cap | 23.4% |
|---|
| Small cap | 35.2% |
|---|
Concentration
| Top 5 holdings | 24.5% |
|---|
| Top 10 holdings | 38.7% |
|---|
| Total holdings | 62 |
|---|
Top holdings
- TREPS - Tri-party Repo — 10.9%
- Bharti Airtel Ltd. — 5.7%
- Kotak Mahindra Bank Ltd. — 5.3%
- ICICI Bank Ltd. — 5.2%
- Titan Company Limited — 4.5%
- Anthem Biosciences Limited — 3.8%
- Pearl Global Industries Limited — 3.3%
- HDFC Bank Ltd. — 3.2%
- Eternal Limited — 2.9%
- Vishal Mega Mart Limited — 2.5%
Top sectors
- Banking & Financial — 17.7%
- Cash — 10.9%
- Finance & Investments — 8.4%
Calendar-year track record
| Year | Return | Quartile | Category rank |
|---|
| 2026 (partial) | −2.9% | Q2 | #58 of 167 |
| 2025 | 1.5% | Q3 | #83 of 132 |
| 2024 | 13.9% | Q4 (Bottom) | #71 of 86 |
| 2023 | 28.0% | Q3 | #38 of 66 |