MonitorDirect · GrowthWatch before adding
DSP Business Cycle Fund
DSP Mutual FundEquity Schemes - Thematic Fund1.9 years
The scheme seeks to provide long-term capital appreciation by investing in equity and equity related securities with a focus on riding business cycles through dynamic allocation across various sectors / themes / stocks at different stages of business cycle.
- NAV
- 10.038
- 29 Oct 2026
- 1Y
- -4.0%
- Trailing CAGR
- Upside capture
- +99%
- Vs NIFTY 500 TRI
- Downside capture
- +97%
- 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 · The fund beat the category median in 70% of rolling 1-year windows.
Fits if · Peak-to-trough drawdown has stayed shallower than 15%.
Prefer peers if · Prefer Nippon India Active Momentum Fund if you want a same-category peer with stronger evidence.
Buy checklist
History depth
Fail
1.9 years - thin for judging consistency.
Engine status
Watch
Recent evidence is mixed. Compare peers before increasing exposure.
Expense ratio
Pass
1.11% TER (Direct). Lower cost compounds on long SIPs.
Drawdown vs peers
Pass
Peak-to-trough -14.8%. Ask whether you can hold through a similar fall.
Vs category
n/a
Category relative read still thin.
Manager tenure
Watch
Anish Tawakley · 0.5 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
Watch
Top 10 holdings ≈ 69.2% 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 15%. 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-4.0%
- 3Yn/a
- 5Yn/a
- 10Yn/a
- SI+0.2%
SIP XIRR
Equal monthly instalments to latest NAV
- 1Y-5.2%
- 3Yn/a
- 5Yn/a
- 10Yn/a
- Since inception
- +0.2%
- Calendar-day CAGR
- Excess 1Y
- +0.1%
- 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
- +3.5%
- Fund minus TRI
- 3Y excess
- n/a
- Fund minus TRI
- Upside capture
- +99%
- Benchmark-up months
- Downside capture
- +97%
- Lower is better
Drawdown
Peak to trough from a running NAV high, with the path and recovery episodes.
- Max drawdown
- -14.8%
- Worst peak-to-trough
- Current
- -7.6%
- Below last peak
- Current spell
- 87 days
- Days below latest peak
- Time below peak
- +93%
- NAV observations
Drawdown
Path not in current snapshots
n/a
- Average recovery
- 23 days
- 15 recovered episodes
- Longest recovery
- 117 days
- Trough to prior peak
2 Jan 2025 – 25 Jun 2025
Trough 28 Feb 2025 · recovered in 117 days
-14.8%
11 Feb 2026 – 3 Jul 2026
Trough 30 Mar 2026 · recovered in 95 days
-11.9%
3 Aug 2026 – open
Trough 8 Oct 2026 · not recovered
-9.0%
7 Jan 2026 – 9 Feb 2026
Trough 23 Jan 2026 · recovered in 17 days
-4.9%
Dimensions
0–100 reads of named metrics. The mean is unweighted and only uses dimensions with data.
Returns
13
Vs category
50
Consistency
70
Risk-adjusted
8
Drawdown
63
Mean
41
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
- Risk-adjusted return (Sharpe) is negative over the available daily history.
Supporting reads
- The fund beat the category median in 70% of rolling 1-year windows.
- Peak-to-trough drawdown has stayed shallower than 15%.
Portfolio
30 Sept 2026 · 57 holdings · top 10 are 69.2%.
- Top 5
- 51.8%
- Top 10
- 69.2%
- Largest holding
- 16.3%
- Effective holdings
- 14.0
Reverse Repo
Unspecified
16.3%
National Stock Exchange Of India Ltd Index ID
Financial
10.8%
ICICI Bank Ltd
Financial
9.8%
HDFC Bank Ltd
Financial
9.6%
Axis Bank Ltd
Financial
5.4%
What changed
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
22 Oct 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
21 Oct 2026
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.
24 Sept 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
23 Sept 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
22 Sept 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
21 Sept 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
18 Sept 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
17 Sept 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
Worth investigating
Same-category peers with enough history to inspect beside this fund - including tradeoffs.
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
- Shallower drawdown
- Higher win rate vs category
- Higher trailing returns
Caveat: Higher volatility · Higher TER
HDFC Defence Fund
HDFC Mutual Fund
- 1Y
- +16.1%
- 3Y
- +35.5%
- Vol
- 24.9%
- Max DD
- -34.5%
- Sharpe
- 1.19
- 3Y win
- +100%
- Higher win rate vs category
- Lower TER
- Higher trailing returns
Caveat: Higher volatility · Deeper drawdown
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
- Higher win rate vs category
- Lower TER
- Higher trailing returns
Caveat: Higher volatility · Deeper drawdown
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
- Higher win rate vs category
- Lower TER
- Higher trailing returns
Caveat: Higher volatility · Deeper drawdown
Mahindra Manulife Business Cycle Fund
Mahindra Manulife Mutual Fund
- 1Y
- -3.8%
- 3Y
- +16.3%
- Vol
- 15.7%
- Max DD
- -21.4%
- Sharpe
- 0.58
- 3Y win
- +100%
- Higher win rate vs category
- Lower TER
- Higher trailing returns
Caveat: Higher volatility · Deeper drawdown