MonitorDirect · GrowthWatch before adding
ICICI Prudential Business Cycle Fund
ICICI Prudential Mutual FundEquity Scheme - Sectoral/ Thematic5.8 years
The scheme seeks to generate long-term capital appreciation by investing with focus on riding business cycles through allocation between sectors and stocks at different stages of business cycles.
- NAV
- 24.68
- 29 Oct 2026
- 1Y
- -9.5%
- Trailing CAGR
- Upside capture
- +98%
- Vs NIFTY 500 TRI
- Downside capture
- +73%
- 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 100% of rolling 3-year windows.
Fits if · Three-year return is above the category median.
Prefer peers if · Prefer Kotak Business Cycle Fund if you want a same-category peer with stronger evidence.
Buy checklist
History depth
Pass
5.8 years of path to read.
Engine status
Watch
Recent evidence is mixed. Compare peers before increasing exposure.
Expense ratio
Pass
1.04% TER (Direct). Lower cost compounds on long SIPs.
Drawdown vs peers
Pass
Peak-to-trough -14.4%. Ask whether you can hold through a similar fall.
Vs category
Pass
100% of rolling 3Y windows beat the category median, same plan and option.
Manager tenure
Watch
Divya Jain · 0.8 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 ≈ 53.6% 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 14%. 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-9.5%
- 3Y+14.4%
- 5Y+13.6%
- 10Yn/a
- SI+16.9%
SIP XIRR
Equal monthly instalments to latest NAV
- 1Y-10.5%
- 3Y+2.6%
- 5Y+11.5%
- 10Yn/a
- Since inception
- +16.9%
- Calendar-day CAGR
- Excess 1Y
- -6.9%
- Category median, same plan and option
- 3Y win rate
- +100%
- Windows beating the median
- 3Y percentile
- 60
- Vs comparable share classes
- SIP 3Y XIRR
- +2.6%
- Simulated monthly SIP
- Worst rolling 3Y
- +13.3%
- 683 daily-ending windows
- Median rolling 3Y
- +23.4%
- Calendar-day CAGR
- Positive rolling 5Y
- +100%
- 193 daily-ending windows
Official benchmark
Date-aligned against NIFTY 500 TRI. Capture ratios use common month-end observations through 30 Oct 2026.
- 1Y excess
- -1.9%
- Fund minus TRI
- 3Y excess
- +4.0%
- Fund minus TRI
- Upside capture
- +98%
- Benchmark-up months
- Downside capture
- +73%
- Lower is better
Drawdown
Peak to trough from a running NAV high, with the path and recovery episodes.
- Max drawdown
- -14.4%
- Worst peak-to-trough
- Current
- -10.8%
- Below last peak
- Current spell
- 297 days
- Days below latest peak
- Time below peak
- +83%
- NAV observations
Drawdown
Path not in current snapshots
n/a
- Average recovery
- 8 days
- 89 recovered episodes
- Longest recovery
- 101 days
- Trough to prior peak
26 Sept 2024 – 9 Jun 2025
Trough 28 Feb 2025 · recovered in 101 days
-14.4%
5 Jan 2026 – open
Trough 30 Mar 2026 · not recovered
-14.1%
17 Jan 2022 – 11 Aug 2022
Trough 20 Jun 2022 · recovered in 52 days
-12.0%
1 Dec 2022 – 15 May 2023
Trough 28 Mar 2023 · recovered in 48 days
-7.8%
Dimensions
0–100 reads of named metrics. The mean is unweighted and only uses dimensions with data.
Returns
60
Vs category
7
Consistency
93
Risk-adjusted
68
Drawdown
64
Mean
58
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
- Long-term category-relative performance remains stronger than the most recent rolling 1-year windows, which have deteriorated across multiple periods.
Supporting reads
- The fund beat the category median in 100% of rolling 3-year windows.
- Three-year return is above the category median.
- Risk-adjusted return sits above the documented risk-free proxy.
- Peak-to-trough drawdown has stayed shallower than 15%.
Portfolio
30 Sept 2026 · 92 holdings · top 10 are 53.6%.
- Top 5
- 35.6%
- Top 10
- 53.6%
- Largest holding
- 9.6%
- Effective holdings
- 23.5
HDFC Bank Ltd
Financial
9.6%
Repo
Unspecified
9.6%
ICICI Bank Ltd
Financial
6.7%
Reliance Industries Ltd
Energy & Utilities
5.3%
Larsen & Toubro Ltd
Industrials
4.5%
What changed
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
29 Oct 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
28 Oct 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
27 Oct 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
26 Oct 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
23 Oct 2026
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
Worth investigating
Same-category peers with enough history to inspect beside this fund - including tradeoffs.
Kotak Business Cycle Fund
Kotak Mahindra Mutual Fund
- 1Y
- +0.3%
- 3Y
- +16.1%
- Vol
- 12.7%
- Max DD
- -18.4%
- Sharpe
- 0.72
- 3Y win
- +98%
- Lower volatility
- Lower TER
- Higher trailing returns
Caveat: Deeper drawdown
Aditya Birla Sun Life Commodity Equities Fund - Global Agri Plan
Aditya Birla Sun Life Mutual Fund
- 1Y
- -2.5%
- 3Y
- +20.3%
- Vol
- 16.8%
- Max DD
- -42.2%
- Sharpe
- 0.16
- 3Y win
- n/a
- Higher trailing returns
Caveat: Higher volatility · Deeper drawdown
Aditya Birla Sun Life Infrastructure Fund
Aditya Birla Sun Life Mutual Fund
- 1Y
- +7.5%
- 3Y
- +16.9%
- Vol
- 18.5%
- Max DD
- -53.5%
- Sharpe
- 0.56
- 3Y win
- +66%
- Higher trailing returns
Caveat: Higher volatility · Deeper drawdown · Higher TER
Edelweiss Recently Listed IPO Fund
Edelweiss Mutual Fund
- 1Y
- +16.8%
- 3Y
- +16.9%
- Vol
- 18.8%
- Max DD
- -32.3%
- Sharpe
- 0.56
- 3Y win
- +49%
- Higher trailing returns
Caveat: Higher volatility · Deeper drawdown · Higher TER
ICICI Prudential Commodities Fund
ICICI Prudential Mutual Fund
- 1Y
- -2.4%
- 3Y
- +14.9%
- Vol
- 23.0%
- Max DD
- -41.2%
- Sharpe
- 0.84
- 3Y win
- +90%
- Higher trailing returns
Caveat: Higher volatility · Deeper drawdown