HDFC Business Cycle Fund

Q: What are the returns of this mutual fund scheme?

The HDFC Business Cycle Fund is a 3 yrs 1 m old fund and has delivered average annual returns of 13.37% since inception. HDFC Business Cycle Fund Returns 1-Year 3-Year Since Inception 0.63% 13.81% 13.37%

Q: How much does this mutual fund charge as expense ratio?

The HDFC Business Cycle Fund has an expense ratio of 1.98% , representing the annual cost of managing and operating the fund. This fee is deducted from the fund's AUM while declaring the daily NAV, reducing investor returns.

NAV as of Dec 04, 2025	Returns since inception	ET Money Rank	AUM (Fund size)
₹14.644-0.17% 1 day change	13.37% p.a.	App exclusive #NA View Ranked Funds	₹2,972 Cr

Historical NAV & returns

NAV: ₹14.644 as on Dec 04, 2025

This fund Category average

HDFC Business Cycle Fund overview

AUM (Fund size)	₹2,972 Cr
Exit load	1.0% Exit load of 1%, if redeemed within 1 year.!
Lock-in Period	Nil
Age	3 yrs 1 m since Nov 11, 2022
Benchmark	NIFTY 500 TRI
Min. investment	SIP: ₹500 & Lumpsum: ₹1000
Expense ratio	1.98% as on Nov 30, 2025
Plan type	Regular
Risk	Very High
Short term capital gains (STCG)	Returns taxed at 20% if you redeem before 1 year
Long term capital gains (LTCG)	After 1 year, returns above ₹1.25 lakh in a financial year are taxed at 12.5%

HDFC Business Cycle Fund Returns calculator

Investment type

Monthly investment

₹ 10,000

Investment period

Lumpsum investment

₹1 lakh

Investment period

Disclaimer: Products compared like fixed deposits may provide fixed guaranteed returns. Mutual Funds investments are subject to market risk, read all scheme related documents carefully. Past performance is not an indicator of future returns.

Total investment ₹ 12 lakh
Profit ₹12 lakhs
Total corpus ₹1 lakh
Absolute return 52.69%

Trailing returns as on Dec 01, 2025

Period	This fund	Category average
1 Month	-2.17%	1.01%
3 Months	-0.45%	3.78%
6 Months	4.89%	3.39%
1 Year	0.63%	-1.05%
2 Years	10.35%	12.65%
3 Years	13.81%	14.94%

View returns in detail

Asset allocationas on Oct 31, 2025

Large Cap 46.79%

Mid Cap 25.19%

Small Cap 26.36%

Other Cap 0%

Top holdings

Eternal Ltd.6.82%

ICICI Bank Ltd.6.12%

Bharti Airtel Ltd.5.92%

HDFC Bank Ltd.4.02%

Top sectors

Financial 22.55%

Services 20.060000000000002%

Healthcare 13.62%

Automobile 8.13%

Credit quality

Bifurcation by Credit Quality is not available for this fund

Top Debt Holdings

Bifurcation by Holding is not available for this fund

Allocation by Instruments

Repo 1.13%

Real Estate Investment Trusts 0.99%

Other Holdings

Others 1.13%

Embassy Office Parks REIT 0.99%

Detailed portfolio analysis

Peer comparison

Fund name	1M	6M	1Y	3Y	5Y	10Y
HDFC Business Cycle Fund	-2.17%	4.89%	0.63%	13.81%	N.A.	N.A.
ICICI Prudential India Opportunities Fund	1.24%	7.58%	9.42%	21.94%	28.14%	14.07%
ICICI Prudential Dividend Yield Equity Fund	0.38%	7.77%	8.28%	22.18%	26.28%	16.24%
ICICI Prudential Value Fund	2.09%	7.94%	9.87%	20.43%	24.26%	15.82%
SBI Contra Fund	0.6%	5.21%	2.42%	18.94%	25.74%	16.58%
ICICI Prudential Diversified Equity All Cap Omni FoF	0.76%	6.37%	6.12%	20.24%	23.23%	12.39%

Fund name	Std. deviation	Beta	Sharpe	Sortino
HDFC Business Cycle Fund	11.76	0.86	0.65	0.92
ICICI Prudential India Opportunities Fund	11.43	0.82	1.29	2.27
ICICI Prudential Dividend Yield Equity Fund	11.98	0.85	1.25	1.93
ICICI Prudential Value Fund	10.97	0.78	1.22	2.09
SBI Contra Fund	12.15	0.9	1.01	1.6
ICICI Prudential Diversified Equity All Cap Omni FoF	11.69	0.87	1.13	1.78

Fund name	ETM Rank	AUM	Fund age	Expense ratio
HDFC Business Cycle Fund	N.A.	2,972 Cr	3 yrs 1 m	1.98%
ICICI Prudential India Opportunities Fund	N.A.	32,669 Cr	6 yrs 11 m	1.56%
ICICI Prudential Dividend Yield Equity Fund	N.A.	6,232 Cr	11 yrs 7 m	1.8%
ICICI Prudential Value Fund	N.A.	57,935 Cr	21 yrs 5 m	1.48%
SBI Contra Fund	N.A.	49,218 Cr	20 yrs 7 m	1.48%
ICICI Prudential Diversified Equity All Cap Omni FoF	N.A.	238 Cr	5 yrs 10 m	0.99%

View all Strategy funds

Key risk & return ratios Compared to other funds in the category

Alpha	-0.03 vs. 4.3 Underperformed at beating benchmark
Sharpe	0.65 vs. 4.56 Poor risk-adjusted returns
Beta	0.86 vs. 0.73 More sensitive to market's ups & downs
Standard deviation	11.76 vs. 8.93 More volatile performance

Compare HDFC Business Cycle Fund in detail with

About this fund

About HDFC Business Cycle Fund

HDFC Business Cycle Fund is a Strategy mutual fund scheme from Hdfc Mutual Fund. This fund has been in existence for 3 yrs 1 m, having been launched on 11/11/2022. HDFC Business Cycle Fund has ₹2,972 Crores worth of assets under management (AUM) as on 31/10/2025 and is medium-sized fund of its category. The latest Net Asset Value (NAV) of HDFC Business Cycle Fund as of 04/12/2025 is ₹14.64. The fund has an expense ratio of 1.98%, which is higher than what most other Strategy funds charge.

HDFC Business Cycle Fund returns of last 1-year are -0.32%. Since launch, it has delivered 13.49% average annual returns.
HDFC Business Cycle Fund scheme's ability to deliver returns consistently is in-line with most funds of its category. Its ability to control losses in a falling market is below average.
The fund has the majority of its money invested in Financial, Services, Healthcare, Automobile, Construction sectors. It has taken less exposure in Financial, Services sectors compared to other funds in the category.
The fund's top 5 holdings are in Eternal Ltd., ICICI Bank Ltd., Bharti Airtel Ltd., HDFC Bank Ltd., Vishal Mega Mart Ltd..

...

Fund AUM	2,972 Cr as on Oct 31, 2025
Scheme document	View Scheme Document

Fund managers

Rahul Baijal

Mr. Baijal has done PGDM(MBA) from IIM Calcutta and is an engineering graduate of Delhi college of Engineering Prior to joining Sundaram Mutual Fund, he has worked with Bharti AXA Life Insurance, TVF Capital, HSBC Securities, Credit Suisse Securities & Standard Chartered Bank.

Investment objective

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.

HDFC Mutual Fund details

No. of schemes	78 view all schemes
Total AUM	8,93,028 Cr as on Sep 30, 2025
Address	"HDFC House", 2nd Floor, H. T. Parekh Marg, 165-166, Backbay Reclamation, Churchgate Mumbai, 400020
Email	shareholders.relations@hdfcfund.com
Phone	022 ? 66316333

More funds from HDFC Mutual Fund

Fund name	ETM Rank	AUM	1Y	5Y
HDFC Infrastructure Fund	N.A.	2,586 Cr	-0.25%	29.77%
HDFC Mid Cap Fund	N.A.	89,383 Cr	7.6%	26.43%
HDFC Small Cap Fund	N.A.	38,412 Cr	-1.11%	26.37%
HDFC Focused Fund	N.A.	25,140 Cr	8.48%	25.91%
HDFC Flexi Cap Fund	N.A.	91,041 Cr	9.08%	25.16%
HDFC ELSS Tax Saver Fund	N.A.	17,194 Cr	7.58%	23.17%

See all Equity funds from this AMC

Frequently asked questions

What is the current NAV of HDFC Business Cycle Fund?

The current Net Asset Value (NAV) of the HDFC Business Cycle Fund plan is approximately ₹14.644 as of Dec 04, 2025.

What are the returns of this mutual fund scheme?

The HDFC Business Cycle Fund is a 3 yrs 1 m old fund and has delivered average annual returns of 13.37% since inception.

HDFC Business Cycle Fund Returns

1-Year	3-Year	Since Inception
0.63%	13.81%	13.37%

How much does this mutual fund charge as expense ratio?

The HDFC Business Cycle Fund has an expense ratio of 1.98%, representing the annual cost of managing and operating the fund. This fee is deducted from the fund's AUM while declaring the daily NAV, reducing investor returns.

What is the AUM or fund size of this mutual fund?

The HDFC Business Cycle Fund currently has assets under management (AUM) or fund size valued at approximately 2,972 Cr as on Oct 31, 2025.

What are the top stock holdings of HDFC Business Cycle Fund?

The HDFC Business Cycle Fund has invested the majority of its money in the stocks of the following companies -

Company	Percentage of Portfolio
Eternal Ltd.	6.82%
ICICI Bank Ltd.	6.12%
Bharti Airtel Ltd.	5.92%
HDFC Bank Ltd.	4.02%
Vishal Mega Mart Ltd.	3.66%
Fortis Healthcare Ltd.	3.26%
Titan Company Ltd.	3.24%
Anthem Biosciences Ltd.	3.19%
Bajaj Auto Ltd.	3.04%
Aptus Value Housing Finance India Ltd.	2.87%

What are the top sectors HDFC Business Cycle Fund has invested in?

The HDFC Business Cycle Fund has primarily invested in the following sectors

Sector	Percentage of Portfolio
Financial	22.55%
Services	20.060000000000002%
Healthcare	13.62%
Automobile	8.13%
Communication	6.15%
Capital Goods	6.079999999999999%
Construction	5.91%
Consumer Discretionary	4.51%
Chemicals	3.27%
Materials	2.87%

What is risk level of HDFC Business Cycle Fund?

This is a Strategy fund comes with Very High risk.

Is there any lock-in period in this mutual fund?

No, this fund does not have any lock-in period.

How can I redeem my investments in HDFC Business Cycle Fund?

Redeeming your investments in the HDFC Business Cycle Fund is simple. If you have invested via ET Money, just log in to the app, go to the holdings section, and submit the redemption request.

If you have invested from anywhere else, you can go to the fund house website and put a request through it.

ET Money rank

App exclusive

in Strategy

#NA

Return Outperformance: This fund has generated highest return amongst Strategy funds in the last 1 Year.
Return/Risk: The fund is performing poorly than its category.
Exit Load: Exit load of 1%, if redeemed within 1 year.