Bandhan Business Cycle Fund
Direct · GrowthAI Summary
Bandhan Business Cycle Fund has delivered a 1Y SIP XIRR of 3.26%, which is significantly below the category average SIP XIRR of 14.1% for the same period. However, on a lump-sum basis the fund has outperformed the NIFTY 50 across all time horizons, with a 1Y Fund CAGR of 1.19% versus the benchmark's -2.9%, generating positive alpha of 4.85% over 1Y. Calendar year returns have been mixed, with -2.24% in 2024, 5.77% in 2025, and -2.89% in 2026 so far.
The fund shows a Beta of 1.08 against the NIFTY 50, indicating slightly higher volatility than the benchmark, with an Upside Capture of 105.38% and Downside Capture of 99.41% over 1Y — a favorable asymmetry. The maximum drawdown of -0.18% with a duration of 87 days and no completed recovery suggests the fund is still recovering from its recent trough. The Calmar Ratio of 0.218 over 1Y indicates modest risk-adjusted returns relative to the drawdown experienced.
Detailed holdings and sector allocation data were not provided in this dataset, so specific top holdings and concentration levels cannot be assessed. As a business cycle themed fund, it typically rotates across sectors based on economic cycles, which can lead to meaningful sector concentration at different points in the cycle. Investors should review the latest fact sheet for current portfolio composition before investing.
The fund's 1Y SIP XIRR of 3.26% trails the category average of 14.1% by a wide margin, indicating underperformance versus sectoral/thematic peers in the recent period. On a lump-sum basis, however, the fund has consistently beaten the NIFTY 50 across 1Y to 15Y windows with positive alpha at every horizon, though absolute CAGRs remain low (0.09% to 1.19%). This suggests relative resilience in a weak market rather than strong absolute wealth creation.
This fund suits investors with a high risk tolerance and a long time horizon of 5-7 years or more, given the cyclical and thematic nature of the strategy. It should be treated as a satellite allocation within a diversified portfolio rather than a core holding, as thematic funds can underperform for extended periods. Investors should be comfortable with periods of negative returns, as seen in 2024 and 2026 calendar years.
- Consistent positive alpha versus NIFTY 50 across all measured horizons from 1Y to 15Y, including 4.85% alpha over 1Y
- Favorable capture asymmetry with Upside Capture of 105.38% exceeding Downside Capture of 99.41% over 1Y
- Low expense ratio of 0.62% for a Direct plan in the sectoral/thematic category
- 1Y SIP XIRR of 3.26% is far below the category average SIP XIRR of 14.1%, indicating significant underperformance versus peers
- Absolute lump-sum returns remain very low across long horizons, with a 5Y Fund CAGR of just 0.27%
- Maximum drawdown recovery is not yet complete after 87 days, and calendar year returns have been negative in two of the last three years
Generated on 09-09-2026, 3:33 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 | ₹12.23 L | 3.3% | -25.7% | 20.0% |
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 | 3.3% | 14.4% | 14.1% | -11.2% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 3.8% | 3.6% | -6.6% | 16.0% | -0.56 | -0.53 | 73% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +4.85 | 1.08 | 105.4% | 99.4% | 1.2% | -2.9% |
| 3 Years | +2.30 | 1.05 | 106.0% | 100.1% | 0.5% | -1.5% |
| 5 Years | +1.50 | 1.05 | 106.0% | 100.1% | 0.3% | -0.9% |
| 7 Years | +1.16 | 1.05 | 106.0% | 100.1% | 0.2% | -0.6% |
| 10 Years | +0.90 | 1.05 | 106.0% | 100.1% | 0.1% | -0.4% |
| 12 Years | +0.81 | 1.05 | 106.0% | 100.1% | 0.1% | -0.4% |
| 15 Years | +0.72 | 1.05 | 106.0% | 100.1% | 0.1% | -0.3% |