HealthyDirect · GrowthFit for a long SIP
Axis Business Cycles Fund
Axis Mutual FundEquity Schemes - Thematic Fund3.7 years
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 in the economy.
- NAV
- 16.96
- 29 Oct 2026
- 1Y
- -3.1%
- Trailing CAGR
- Upside capture
- +106%
- Vs NIFTY 500 TRI
- Downside capture
- +95%
- Lower is better
Buying brief
Should you add this fund?
Evidence on this desk, framed as a purchase checklist - not SEBI-registered advice.
As of 29 Oct 2026
Stance
Fit for a long SIP
Evidence supports keeping this on a shortlist for a multi-year equity SIP.
In three lines
Fits if · Risk-adjusted return sits above the documented risk-free proxy.
Buy checklist
History depth
Watch
3.7 years - usable, still building a track record.
Engine status
Pass
Evidence supports keeping this on a shortlist for a multi-year equity SIP.
Expense ratio
Watch
1.65% TER (Direct). Lower cost compounds on long SIPs.
Drawdown vs peers
Pass
Peak-to-trough -19.3%. Ask whether you can hold through a similar fall.
Vs category
Fail
2% of rolling 3Y windows beat the category median, same plan and option.
Manager tenure
Pass
Ashish Naik · 3.7 years on the scheme.
Exit load
n/a
No exit-load summary on file.
Tax / wrapper
Pass
Direct Growth, no ELSS lock flagged. Equity LTCG rules still apply after one year - not tax advice.
Portfolio concentration
Pass
Top 10 holdings ≈ 30.1% of the portfolio.
Evidence supports a shortlist - confirm with peers before you buy elsewhere.
Before you buy or SIP
Behaviour and wrappers - the usual India MF failure modes - not a buy instruction.
Drawdown rehearsal
This scheme’s worst fall on file is about 19%. Before you SIP, ask whether you would keep contributing through a similar drop - pausing on fear is the usual India MF failure mode.
SIP discipline
If you start a SIP here, diary a 90-day check and an annual review - don’t react to every NAV print.
NAV
Path not in current snapshots
n/a
Returns
Trailing CAGR and simulated monthly SIP XIRR from daily NAV. Category comparison uses the median of comparable share classes in the peer set.
Trailing CAGR
Point-to-point, calendar-day annualized
- 1Y-3.1%
- 3Y+12.5%
- 5Yn/a
- 10Yn/a
- SI+15.4%
SIP XIRR
Equal monthly instalments to latest NAV
- 1Y-1.6%
- 3Y+4.1%
- 5Yn/a
- 10Yn/a
- Since inception
- +15.4%
- Calendar-day CAGR
- Excess 1Y
- +1.4%
- Category median, same plan and option
- 3Y win rate
- +2%
- Windows beating the median
- 3Y percentile
- 41
- Vs comparable share classes
- SIP 3Y XIRR
- +4.1%
- Simulated monthly SIP
- Worst rolling 3Y
- +11.5%
- 167 daily-ending windows
- Median rolling 3Y
- +15.4%
- Calendar-day CAGR
- Positive rolling 5Y
- n/a
- 0 daily-ending windows
Official benchmark
Date-aligned against NIFTY 500 TRI. Capture ratios use common month-end observations through 30 Oct 2026.
- 1Y excess
- +4.4%
- Fund minus TRI
- 3Y excess
- +2.1%
- Fund minus TRI
- Upside capture
- +106%
- Benchmark-up months
- Downside capture
- +95%
- Lower is better
Drawdown
Peak to trough from a running NAV high, with the path and recovery episodes.
- Max drawdown
- -19.3%
- Worst peak-to-trough
- Current
- -7.9%
- Below last peak
- Current spell
- 64 days
- Days below latest peak
- Time below peak
- +82%
- NAV observations
Drawdown
Path not in current snapshots
n/a
- Average recovery
- 14 days
- 53 recovered episodes
- Longest recovery
- 493 days
- Trough to prior peak
24 Sept 2024 – 6 Jul 2026
Trough 28 Feb 2025 · recovered in 493 days
-19.3%
26 Aug 2026 – open
Trough 23 Oct 2026 · not recovered
-10.7%
3 Jun 2024 – 12 Jun 2024
Trough 4 Jun 2024 · recovered in 8 days
-7.1%
11 Sept 2023 – 21 Nov 2023
Trough 26 Oct 2023 · recovered in 26 days
-6.1%
Dimensions
0–100 reads of named metrics. The mean is unweighted and only uses dimensions with data.
Returns
41
Vs category
59
Consistency
24
Risk-adjusted
59
Drawdown
52
Mean
47
Decision
Quantitative engine reasons behind the buying stance. An explanation can only restate what is already here.
Healthy
Buying stance
Fit for a long SIP
Evidence supports keeping this on a shortlist for a multi-year equity SIP.
Why this status
- No material deterioration, cost shock, or persistent category underperformance in the current evidence set.
Supporting reads
- Risk-adjusted return sits above the documented risk-free proxy.
Portfolio
30 Sept 2026 · 89 holdings · top 10 are 30.1%.
- Top 5
- 17.4%
- Top 10
- 30.1%
- Largest holding
- 3.8%
- Effective holdings
- 58.4
Larsen & Toubro Ltd
Industrials
3.8%
Axis Bank Ltd
Financial
3.6%
ICICI Bank Ltd
Financial
3.6%
HDFC Bank Ltd
Financial
3.3%
Others CBLO
Unspecified
3.1%
What changed
DECISION
Status moved from HEALTHY to MONITOR.
27 Oct 2026
Worth investigating
Same-category peers with enough history to inspect beside this fund - including tradeoffs.
DSP Business Cycle Fund
DSP Mutual Fund
- 1Y
- -4.0%
- 3Y
- n/a
- Vol
- 13.7%
- Max DD
- -14.8%
- Sharpe
- -0.35
- 3Y win
- n/a
- Lower volatility
- Shallower drawdown
- Higher win rate vs category
- Lower TER
Caveat: Lower trailing returns
WhiteOak Capital ESG Best-In-Class Strategy Fund
WhiteOak Capital Mutual Fund
- 1Y
- -9.3%
- 3Y
- n/a
- Vol
- 13.2%
- Max DD
- -17.2%
- Sharpe
- -0.41
- 3Y win
- n/a
- Lower volatility
- Shallower drawdown
- Higher win rate vs category
- Lower TER
Caveat: Lower trailing returns
360 ONE QUANT FUND
360 ONE Mutual Fund
- 1Y
- -8.9%
- 3Y
- +13.5%
- Vol
- 16.6%
- Max DD
- -22.4%
- Sharpe
- 0.56
- 3Y win
- +91%
- Higher win rate vs category
- Lower TER
- Higher trailing returns
Caveat: Higher volatility · Deeper drawdown
Axis Consumption Fund
Axis Mutual Fund
- 1Y
- -10.4%
- 3Y
- n/a
- Vol
- 13.9%
- Max DD
- -20.1%
- Sharpe
- -0.74
- 3Y win
- n/a
- Lower volatility
- Higher win rate vs category
- Lower TER
Caveat: Deeper drawdown · Lower trailing returns
DSP India T.I.G.E.R. Fund
DSP Mutual Fund
- 1Y
- +4.9%
- 3Y
- +19.1%
- Vol
- 18.2%
- Max DD
- -46.9%
- Sharpe
- 0.60
- 3Y win
- +53%
- Higher win rate vs category
- Lower TER
- Higher trailing returns
Caveat: Higher volatility · Deeper drawdown