MonitorDirect · GrowthWatch before adding
quant Business Cycle Fund
quant Mutual FundEquity Scheme - Sectoral/ Thematic3.4 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
- 16.4262
- 29 Oct 2026
- 1Y
- +0.4%
- Trailing CAGR
- Upside capture
- +120%
- 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 · The fund beat the category median in 67% of rolling 3-year windows.
Fits if · Risk-adjusted return sits above the documented risk-free proxy.
Prefer peers if · Prefer Kotak Business Cycle Fund if you want a same-category peer with stronger evidence.
Buy checklist
History depth
Watch
3.4 years - usable, still building a track record.
Engine status
Watch
Recent evidence is mixed. Compare peers before increasing exposure.
Expense ratio
Pass
1.47% TER (Direct). Lower cost compounds on long SIPs.
Drawdown vs peers
Pass
Peak-to-trough -29.2%. Ask whether you can hold through a similar fall.
Vs category
Pass
67% of rolling 3Y windows beat the category median, same plan and option.
Manager tenure
Watch
Jignesh Shah · 0.7 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
Watch
Top 10 holdings ≈ 90.3% 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 29%. 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+0.4%
- 3Y+10.8%
- 5Yn/a
- 10Yn/a
- SI+15.6%
SIP XIRR
Equal monthly instalments to latest NAV
- 1Y+1.1%
- 3Y+1.3%
- 5Yn/a
- 10Yn/a
- Since inception
- +15.6%
- Calendar-day CAGR
- Excess 1Y
- +3.1%
- Category median, same plan and option
- 3Y win rate
- +67%
- Windows beating the median
- 3Y percentile
- 38
- Vs comparable share classes
- SIP 3Y XIRR
- +1.3%
- Simulated monthly SIP
- Worst rolling 3Y
- +9.6%
- 105 daily-ending windows
- Median rolling 3Y
- +15.1%
- 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
- +8.0%
- Fund minus TRI
- 3Y excess
- +0.4%
- Fund minus TRI
- Upside capture
- +120%
- 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
- -29.2%
- Worst peak-to-trough
- Current
- -17.2%
- Below last peak
- Current spell
- 762 days
- Days below latest peak
- Time below peak
- +84%
- NAV observations
Drawdown
Path not in current snapshots
n/a
- Average recovery
- 5 days
- 34 recovered episodes
- Longest recovery
- 20 days
- Trough to prior peak
27 Sept 2024 – open
Trough 30 Mar 2026 · not recovered
-29.2%
23 Feb 2024 – 2 Apr 2024
Trough 13 Mar 2024 · recovered in 20 days
-9.2%
3 Jun 2024 – 12 Jun 2024
Trough 4 Jun 2024 · recovered in 8 days
-7.8%
11 Sept 2023 – 7 Nov 2023
Trough 26 Oct 2023 · recovered in 12 days
-4.6%
Dimensions
0–100 reads of named metrics. The mean is unweighted and only uses dimensions with data.
Returns
38
Vs category
70
Consistency
51
Risk-adjusted
55
Drawdown
27
Mean
48
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
No status reasons yet. History is still thin.
Supporting reads
- The fund beat the category median in 67% of rolling 3-year windows.
- Risk-adjusted return sits above the documented risk-free proxy.
Portfolio
31 Aug 2026 · 28 holdings · top 10 are 90.3%.
- Top 5
- 58.6%
- Top 10
- 90.3%
- Largest holding
- 23.8%
- Effective holdings
- 7.9
Repo
Unspecified
23.8%
DEWAN HOUSING FINANCE CORP. LTD. EQ
Financial
10.9%
Aurobindo Pharma Ltd
Healthcare
10.1%
Reliance Industries Limited_29/09/2026
Energy & Utilities
9.3%
Indus Towers Ltd
Technology
8.6%
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
- Shallower drawdown
- Higher win rate vs category
- Lower TER
- Higher trailing returns
Nippon India Innovation Fund
Nippon India Mutual Fund
- 1Y
- -5.1%
- 3Y
- +13.1%
- Vol
- 14.3%
- Max DD
- -21.5%
- Sharpe
- 0.47
- 3Y win
- +100%
- Lower volatility
- Shallower drawdown
- Higher win rate vs category
- Lower TER
- Higher trailing returns
Motilal Oswal Active Momentum Fund
Motilal Oswal Mutual Fund
- 1Y
- +15.9%
- 3Y
- n/a
- Vol
- 17.2%
- Max DD
- -16.6%
- Sharpe
- 1.01
- 3Y win
- n/a
- Lower volatility
- Shallower drawdown
- Higher win rate vs category
- Higher trailing returns
Caveat: Higher TER
Baroda BNP Paribas Innovation Fund
Baroda BNP Paribas Mutual Fund
- 1Y
- +5.8%
- 3Y
- n/a
- Vol
- 15.9%
- Max DD
- -22.3%
- Sharpe
- 0.47
- 3Y win
- n/a
- Lower volatility
- Shallower drawdown
- Higher win rate vs category
- Lower TER
Caveat: Lower trailing returns
Aditya Birla Sun Life Business Cycle Fund
Aditya Birla Sun Life Mutual Fund
- 1Y
- +0.1%
- 3Y
- +13.1%
- Vol
- 13.9%
- Max DD
- -17.8%
- Sharpe
- 0.39
- 3Y win
- +13%
- Lower volatility
- Shallower drawdown
- Higher trailing returns
Caveat: Higher TER