Aditya Birla Sun Life Business Cycle Fund
Direct · GrowthAI Summary
The fund has delivered strong alpha over the NIFTY 50 across all periods, with a 1Y alpha of 13.17% and a 3Y alpha of 7.14%, while its 3Y fund CAGR of 14.92% nearly doubles the benchmark's 7.84%. Its 1Y SIP XIRR of 14.84% modestly beats the category average of 14.1%, though the 3Y XIRR of 13.22% trails the category's 16.82%. Consistent positive alpha over 15 years (1.28% to 13.17%) indicates durable benchmark outperformance.
The fund shows strong downside protection with downside capture of 80.65% (1Y) and around 90% over longer periods, versus upside capture near 97-99%, meaning it loses less in falling markets while keeping pace in rising ones. Beta of roughly 0.94-0.95 indicates slightly lower volatility than the NIFTY 50. The Calmar ratio of 0.80-0.85 reflects reasonable risk-adjusted returns, though 3 drawdown events exceeding 10% and a lengthy 490-day recovery from the maximum drawdown highlight that meaningful drawdowns have occurred.
The portfolio holds 57 stocks with a well-diversified top 10, where the largest holding ICICI Bank is only 4.16% of NAV. Banks lead sector allocation at 14.6%, followed by Auto Components at 9.6% and Healthcare Services at 7.6%, with the top 5 sectors spread across financials, industrials, and healthcare. This diversified, cyclical-tilted allocation aligns with the fund's business cycle mandate.
The fund's 1Y SIP XIRR of 14.84% edges past the category average of 14.1%, but its 3Y XIRR of 13.22% lags the category's 16.82% by about 3.6 percentage points. Long-term lump-sum performance remains solid, with positive alpha versus the NIFTY 50 across 5Y to 15Y windows. Overall, the fund sits in the middle of its sectoral/thematic peer group, excelling on benchmark-relative returns but trailing category SIP averages over longer horizons.
This fund suits investors with high risk tolerance seeking tactical, cyclical exposure as a satellite holding rather than a core portfolio fund, given the sectoral/thematic category's concentrated risk profile. A horizon of at least 5-7 years is advisable to ride through business cycle swings and the lengthy drawdown recoveries observed. Investors should be comfortable with interim volatility and should cap allocation to a modest share of their equity portfolio.
- Consistent positive alpha over the NIFTY 50 across every measured period from 1Y to 15Y, including 13.17% alpha over 1Y
- Superior downside protection with downside capture of 80.65% over 1Y versus upside capture of 98.27%
- Well-diversified 57-stock portfolio with the top holding at only 4.16% of NAV and no single-sector overconcentration
- 3Y SIP XIRR of 13.22% trails the category average of 16.82% by a meaningful margin
- Three drawdown events exceeding 10% and a 490-day recovery from maximum drawdown indicate extended underwater periods
- Expense ratio of 1.12% is relatively high and may weigh on net returns over long horizons
Generated on 11-09-2026, 3:15 AM. Verify before investing.
Gives more importance to longer time periods (10Y, 20Y) than shorter ones (1Y, 3Y). This balances out recent outperformance and gives a more realistic picture of what long-term returns might look like.
The largest peak-to-trough decline in the fund's NAV. Shows the worst-case loss an investor would have experienced at any point in the fund's history.
If you invested ₹1,00,000 every month via SIP, here's how this fund has historically performed across different time horizons.
| Duration | Invested | Median Value | XIRR | Min XIRR | Max XIRR |
|---|---|---|---|---|---|
| 1 Year | ₹12.00 L | ₹12.69 L | 14.8% | -18.8% | 50.2% |
| 3 Years | ₹36.00 L | ₹43.62 L | 13.2% | 1.8% | 23.9% |
SIP returns vs benchmark & category
Annualised SIP return (XIRR) over each rolling horizon — like-for-like, not lump-sum.
| Duration | Fund SIP XIRR | NIFTY 50 | Category avg | Fund edge |
|---|---|---|---|---|
| 1 Year | 14.8% | 14.4% | 14.1% | +0.4% |
| 3 Years | 13.2% | 11.1% | 16.8% | +2.1% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 14.3% | 10.8% | -7.1% | 41.5% | 0.64 | 2.65 | 93% | — | — |
| 3 Years | 15.1% | 14.8% | 10.4% | 21.2% | 4.22 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +13.17 | 0.94 | 98.3% | 80.7% | 11.3% | -2.4% |
| 3 Years | +7.14 | 0.95 | 99.7% | 90.5% | 14.9% | 7.8% |
| 5 Years | +4.84 | 0.95 | 97.1% | 90.6% | 11.6% | 6.8% |
| 7 Years | +3.27 | 0.95 | 97.1% | 90.6% | 8.1% | 4.8% |
| 10 Years | +2.14 | 0.95 | 97.1% | 90.6% | 5.6% | 3.3% |
| 12 Years | +1.71 | 0.95 | 97.1% | 90.6% | 4.7% | 2.8% |
| 15 Years | +1.28 | 0.95 | 97.1% | 90.6% | 3.7% | 2.2% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | ICICI Bank Limited | 4.16% |
| 2 | The Federal Bank Limited | 3.38% |
| 3 | RR Kabel Ltd | 2.60% |
| 4 | Muthoot Finance Limited | 2.46% |
| 5 | SJS Enterprises Pvt Limited | 2.43% |
| 6 | Shaily Engineering Plastics Ltd | 2.42% |
| 7 | Craftsman Automation Ltd | 2.28% |
| 8 | Karur Vysya Bank Ltd/The | 2.25% |
| 9 | Thyrocare Technologies Limited | 2.22% |
| 10 | Bharat Forge Limited | 2.15% |