MonitorDirect · GrowthWatch before adding
Bandhan Business Cycle Fund
Bandhan Mutual FundEquity Schemes - Thematic Fund2.1 years
The scheme seeks to generate long-term capital appreciation by investing predominantly in equity and equity-related instruments 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
- 9.593
- 29 Oct 2026
- 1Y
- -8.9%
- Trailing CAGR
- Upside capture
- +103%
- Vs NIFTY 500 TRI
- Downside capture
- +102%
- 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
Watch before adding
Recent evidence is mixed. Compare peers before increasing exposure.
In three lines
Fits if · Recent return trails the category median by 3 percentage points or more, with a weak rolling win rate.
Fits if · Risk-adjusted return (Sharpe) is negative over the available daily history.
Prefer peers if · Prefer DSP Business Cycle Fund if you want a same-category peer with stronger evidence.
Buy checklist
History depth
Fail
2.1 years - thin for judging consistency.
Engine status
Watch
Recent evidence is mixed. Compare peers before increasing exposure.
Expense ratio
Pass
1.02% TER (Direct). Lower cost compounds on long SIPs.
Drawdown vs peers
Pass
Peak-to-trough -17.6%. Ask whether you can hold through a similar fall.
Vs category
n/a
Category relative read still thin.
Manager tenure
Pass
Gaurav Satra · 2.1 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 ≈ 38.9% of the portfolio.
Browse category
Same-category peers are preloaded into compare when available.
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 18%. 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
Monitor is recent mixed evidence - keep the SIP unless the buying brief says prefer peers, then swap with intent.
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-8.9%
- 3Yn/a
- 5Yn/a
- 10Yn/a
- SI-2.1%
SIP XIRR
Equal monthly instalments to latest NAV
- 1Y-5.7%
- 3Yn/a
- 5Yn/a
- 10Yn/a
- Since inception
- -2.1%
- Calendar-day CAGR
- Excess 1Y
- -4.8%
- Category median, same plan and option
- 3Y win rate
- n/a
- Windows beating the median
- 3Y percentile
- n/a
- Vs comparable share classes
- SIP 3Y XIRR
- n/a
- Simulated monthly SIP
- Worst rolling 3Y
- n/a
- 0 daily-ending windows
- Median rolling 3Y
- n/a
- 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
- -1.3%
- Fund minus TRI
- 3Y excess
- n/a
- Fund minus TRI
- Upside capture
- +103%
- Benchmark-up months
- Downside capture
- +102%
- Lower is better
Drawdown
Peak to trough from a running NAV high, with the path and recovery episodes.
- Max drawdown
- -17.6%
- Worst peak-to-trough
- Current
- -8.9%
- Below last peak
- Current spell
- 300 days
- Days below latest peak
- Time below peak
- +96%
- NAV observations
Drawdown
Path not in current snapshots
n/a
- Average recovery
- 26 days
- 9 recovered episodes
- Longest recovery
- 119 days
- Trough to prior peak
2 Jan 2026 – open
Trough 30 Mar 2026 · not recovered
-17.6%
11 Dec 2024 – 27 Jun 2025
Trough 28 Feb 2025 · recovered in 119 days
-16.1%
15 Oct 2024 – 4 Dec 2024
Trough 21 Nov 2024 · recovered in 13 days
-6.3%
16 Jul 2025 – 17 Sept 2025
Trough 8 Aug 2025 · recovered in 40 days
-4.7%
Dimensions
0–100 reads of named metrics. The mean is unweighted and only uses dimensions with data.
Returns
3
Vs category
20
Consistency
36
Risk-adjusted
3
Drawdown
56
Mean
23
Decision
Quantitative engine reasons behind the buying stance. An explanation can only restate what is already here.
Monitor
Buying stance
Watch before adding
Recent evidence is mixed. Compare peers before increasing exposure.
Why this status
- Recent return trails the category median by 3 percentage points or more, with a weak rolling win rate.
- Risk-adjusted return (Sharpe) is negative over the available daily history.
Supporting reads
No supporting reads in the current evidence set.
Portfolio
30 Sept 2026 · 83 holdings · top 10 are 38.9%.
- Top 5
- 22.9%
- Top 10
- 38.9%
- Largest holding
- 5.3%
- Effective holdings
- 43.0
Axis Bank Ltd
Financial
5.3%
HDFC Bank Ltd
Financial
5.3%
Reliance Industries Ltd
Energy & Utilities
4.5%
ICICI Bank Ltd
Financial
4.2%
Bharti Airtel Ltd
Technology
3.6%
What changed
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
19 Oct 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
16 Oct 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
16 Sept 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
15 Sept 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
11 Sept 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
10 Sept 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
8 Sept 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
- Higher trailing returns
Caveat: Higher TER
Nippon India Active Momentum Fund
Nippon India Mutual Fund
- 1Y
- +1.6%
- 3Y
- n/a
- Vol
- 15.2%
- Max DD
- -12.6%
- Sharpe
- 0.53
- 3Y win
- n/a
- Lower volatility
- Shallower drawdown
- Higher win rate vs category
- Higher trailing returns
Caveat: Higher TER
WhiteOak Capital Special Opportunities Fund
WhiteOak Capital Mutual Fund
- 1Y
- +7.2%
- 3Y
- n/a
- Vol
- 14.7%
- Max DD
- -17.0%
- Sharpe
- 0.67
- 3Y win
- n/a
- Lower volatility
- Shallower drawdown
- Higher win rate vs category
- Higher trailing returns
Caveat: Higher TER
HSBC Financial Services fund
HSBC Mutual Fund
- 1Y
- -0.9%
- 3Y
- n/a
- Vol
- 17.0%
- Max DD
- -14.8%
- Sharpe
- 0.36
- 3Y win
- n/a
- Shallower drawdown
- Higher win rate vs category
- Lower TER
- Higher trailing returns
Caveat: Higher volatility
Invesco India Business Cycle Fund
Invesco Mutual Fund
- 1Y
- +7.6%
- 3Y
- n/a
- Vol
- 17.5%
- Max DD
- -16.0%
- Sharpe
- 1.08
- 3Y win
- n/a
- Shallower drawdown
- Higher win rate vs category
- Lower TER
- Higher trailing returns
Caveat: Higher volatility