Which are the best Thematic-Business Cycle funds for SIP investment?

Based on average 5-year rolling returns, the best Thematic-Business Cycle funds for SIP are HSBC Business Cycles Fund Direct-Growth with 5-year average rolling return of 14.56%, -- with 0.00%, and -- with 0.00%. You can start a SIP in Thematic-Business Cycle funds with as little as ₹100 per month.

What are the largest Thematic-Business Cycle mutual funds by assets?

The largest Thematic-Business Cycle funds by Assets Under Management (AUM) are ICICI Prudential Business Cycle Fund Direct-Growth with ₹ 16,122.80 crore, Kotak Business Cycle Fund Direct-Growth with ₹ 3,411.09 crore, and HDFC Business Cycle Fund Direct-Growth with ₹ 2,738.86 crore. Together, there are 19 Thematic-Business Cycle funds available in India.

What is the minimum amount to invest in Thematic-Business Cycle funds?

You can start investing in Thematic-Business Cycle funds with a minimum SIP of ₹100 per month or a minimum lumpsum of ₹100. The minimum investment varies across fund houses — some funds allow even lower entry points.

How are Thematic-Business Cycle fund returns taxed?

Gains from Thematic-Business Cycle funds held for less than 12 months are taxed at 20% (Short-Term Capital Gains). Gains on units held for 12 months or more are taxed at 12.5% (Long-Term Capital Gains), with ₹1.25 lakh per year being exempt per financial year. Dividends (IDCW) are taxed at your applicable income tax slab rate.

Which Thematic-Business Cycle funds have the lowest expense ratio?

Among Thematic-Business Cycle funds, Kotak Business Cycle Fund Direct-Growth has the lowest expense ratio at 0.77% (Direct Plan), followed by Invesco India Business Cycle Fund Direct-Growth at 0.82%. Lower expense ratios directly improve your net returns over the long term.

How many Thematic-Business Cycle mutual funds are available in India?

There are currently 19 Thematic-Business Cycle mutual funds available in India across different fund houses. You can compare all 19 funds on Sharpely based on returns, risk, AUM, and expense ratio to find the one that suits your investment goals.

mutual funds category

Thematic Business Cycle

Best Business Cycle Funds 2026

Q: What are the top performing Thematic-Business Cycle funds?

Based on 1-year returns, the top performing Thematic-Business Cycle funds are Invesco India Business Cycle Fund Direct-Growth with 15.17% return, Aditya Birla Sun Life Business Cycle Fund Direct-Growth with 11.75% return, and Mahindra Manulife Business Cycle Fund Direct-Growth with 10.89% return. The category average 1-year return is 6.19%.

Q: Which Thematic-Business Cycle funds have given the best returns over 3 years?

Over a 3-year period, the best performing Thematic-Business Cycle funds are Invesco India Business Cycle Fund Direct-Growth with a 16.42% CAGR, Aditya Birla Sun Life Business Cycle Fund Direct-Growth with 16.08% CAGR, and Mahindra Manulife Business Cycle Fund Direct-Growth with 15.99% CAGR. The category average 3-year return stands at 14.99% CAGR.

Q: Which Thematic-Business Cycle funds have given the best returns over 5 years?

Over a 5-year period, the top Thematic-Business Cycle funds are Invesco India Business Cycle Fund Direct-Growth with a 16.20% CAGR, Aditya Birla Sun Life Business Cycle Fund Direct-Growth with 15.99% CAGR, and Mahindra Manulife Business Cycle Fund Direct-Growth with 14.93% CAGR. The category average 5-year return is 14.80% CAGR.

Total Schemes

No. of schemes

Total AUM

₹ 0.42Lakh Cr

As on latest

Category Return (5Y)

14.80 %

CAGR

Benchmark

10.50%

NIFTY 500 TRI

Category Returns (%)

Period	1M	6M	1Y	3Y CAGR	5Y CAGR	10Y CAGR	YTD
Thematic-Business Cycle	-0.40 %	9.98 %	6.19 %	14.99 %	14.80 %	12.86 %	3.84 %
Benchmark	-2.30 %	3.67 %	2.13 %	11.08 %	10.50 %	12.99 %	-2.24 %

Top Thematic-Business Cycle Funds (by AUM)

Fund Name	AUM (₹ Cr)	1Y Return	3Y CAGR	5Y CAGR	Expense Ratio
ICICI Prudential Business Cycle Fund Direct-GrowthNAV: ₹26.01	16,122.80 Cr	1.12%	16.08%	16.20%	1.00%
Kotak Business Cycle Fund Direct-GrowthNAV: ₹18.42	3,411.09 Cr	6.65%	15.99%	-	0.77%
HDFC Business Cycle Fund Direct-GrowthNAV: ₹16.15	2,738.86 Cr	5.11%	12.05%	-	1.16%
Tata Business Cycle Fund Direct-GrowthNAV: ₹20.58	2,633.73 Cr	3.52%	12.17%	14.93%	0.89%
Axis Business Cycles Fund Direct-GrowthNAV: ₹18.20	2,125.96 Cr	7.27%	13.91%	-	1.59%
Aditya Birla Sun Life Business Cycle Fund Direct-GrowthNAV: ₹17.35	1,792.88 Cr	11.75%	13.94%	-	1.64%
Sundaram Business Cycle Fund Direct-GrowthNAV: ₹11.87	1,662.67 Cr	5.72%	-	-	1.15%
Motilal Oswal Business Cycle Fund Direct-GrowthNAV: ₹13.02	1,534.93 Cr	0.09%	-	-	1.38%
Edelweiss Business Cycle Fund Direct-GrowthNAV: ₹9.44	1,448.64 Cr	6.76%	-	-	1.31%
Mahindra Manulife Business Cycle Fund Direct-GrowthNAV: ₹16.56	1,356.69 Cr	10.89%	-	-	0.91%
DSP Business Cycle Fund Direct-GrowthNAV: ₹10.50	1,334.42 Cr	4.61%	-	-	1.15%
Invesco India Business Cycle Fund Direct-GrowthNAV: ₹14.73	1,296.74 Cr	15.17%	-	-	0.82%
HSBC Business Cycles Fund Direct-GrowthNAV: ₹49.39	1,182.34 Cr	5.46%	16.42%	15.99%	1.12%
Bandhan Business Cycle Fund Direct-GrowthNAV: ₹10.09	1,165.94 Cr	0.93%	-	-	0.97%
Quant Business Cycle Fund Direct-GrowthNAV: ₹17.26	995.91 Cr	8.94%	11.79%	-	1.44%

Thematic-Business Cycle vs Other Categories

5Y CAGR Return Comparison

15.66%

15.04%

14.80%

14.62%

14.27%

Sectoral-Pharma

Multi Cap

Thematic-Business Cycle

Value Oriented

Thematic-Other

Key Insights

Thematic-Business Cycle delivered 14.80% CAGR over the last 5 years.

It ranks #10 out of 28 categories based on 5Y performance.

Above the category average return of 13.74%.

9 categories outperform it, while 18 categories have lower returns.

Top performer: Sectoral-Auto & Transportation (22.85%).

Lowest performer: Sectoral-Technology (4.94%).

Let's have a closer look

Now let us jump and check about these top 15 mutual fund schemes.

ICICI Prudential Business Cycle Fund Direct-Growth

Fund Performance: ICICI Prudential Business Cycle Fund Direct-Growth has given 16.08% annualized returns in the past three years and 16.20% in the last 5 years. The ICICI Prudential Business Cycle Fund Direct-Growth comes under the Equity category of ICICI Prudential Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in ICICI Prudential Business Cycle Fund Direct-Growth via lump sum is ₹ 500.00 and via SIP is ₹ 100.00.

Min Investment Amt

₹ 500.00

AUM

₹ 16,122.80Cr

1Y Returns

1.12%

Expense Ratio

1.00%

Kotak Business Cycle Fund Direct-Growth

Fund Performance: Kotak Business Cycle Fund Direct-Growth has given 15.99% annualized returns in the past three years. The Kotak Business Cycle Fund Direct-Growth comes under the Equity category of Kotak Mahindra Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in Kotak Business Cycle Fund Direct-Growth via lump sum is ₹ 100.00 and via SIP is ₹ 100.00.

Min Investment Amt

₹ 100.00

AUM

₹ 3,411.09Cr

1Y Returns

6.65%

Expense Ratio

0.77%

HDFC Business Cycle Fund Direct-Growth

Fund Performance: HDFC Business Cycle Fund Direct-Growth has given 12.05% annualized returns in the past three years. The HDFC Business Cycle Fund Direct-Growth comes under the Equity category of HDFC Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in HDFC Business Cycle Fund Direct-Growth via lump sum is ₹ 100.00 and via SIP is ₹ 100.00.

Min Investment Amt

₹ 100.00

AUM

₹ 2,738.86Cr

1Y Returns

5.11%

Expense Ratio

1.16%

Tata Business Cycle Fund Direct-Growth

Fund Performance: Tata Business Cycle Fund Direct-Growth has given 12.17% annualized returns in the past three years and 14.93% in the last 5 years. The Tata Business Cycle Fund Direct-Growth comes under the Equity category of Tata Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in Tata Business Cycle Fund Direct-Growth via lump sum is ₹ 5,000.00 and via SIP is ₹ 100.00.

Min Investment Amt

₹ 5,000.00

AUM

₹ 2,633.73Cr

1Y Returns

3.52%

Expense Ratio

0.89%

Axis Business Cycles Fund Direct-Growth

Fund Performance: Axis Business Cycles Fund Direct-Growth has given 13.91% annualized returns in the past three years. The Axis Business Cycles Fund Direct-Growth comes under the Equity category of Axis Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in Axis Business Cycles Fund Direct-Growth via lump sum is ₹ 100.00 and via SIP is ₹ 100.00.

Min Investment Amt

₹ 100.00

AUM

₹ 2,125.96Cr

1Y Returns

7.27%

Expense Ratio

1.59%

Aditya Birla Sun Life Business Cycle Fund Direct-Growth

Fund Performance: Aditya Birla Sun Life Business Cycle Fund Direct-Growth has given 13.94% annualized returns in the past three years. The Aditya Birla Sun Life Business Cycle Fund Direct-Growth comes under the Equity category of Aditya Birla Sun Life Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in Aditya Birla Sun Life Business Cycle Fund Direct-Growth via lump sum is ₹ 500.00 and via SIP is ₹ 100.00.

Min Investment Amt

₹ 500.00

AUM

₹ 1,792.88Cr

1Y Returns

11.75%

Expense Ratio

1.64%

Sundaram Business Cycle Fund Direct-Growth

Fund Performance: The Sundaram Business Cycle Fund Direct-Growth comes under the Equity category of Sundaram Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in Sundaram Business Cycle Fund Direct-Growth via lump sum is ₹ 100.00 and via SIP is ₹ 100.00.

Min Investment Amt

₹ 100.00

AUM

₹ 1,662.67Cr

1Y Returns

5.72%

Expense Ratio

1.15%

Motilal Oswal Business Cycle Fund Direct-Growth

Fund Performance: The Motilal Oswal Business Cycle Fund Direct-Growth comes under the Equity category of Motilal Oswal Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in Motilal Oswal Business Cycle Fund Direct-Growth via lump sum is ₹ 500.00 and via SIP is ₹ 500.00.

Min Investment Amt

₹ 500.00

AUM

₹ 1,534.93Cr

1Y Returns

0.09%

Expense Ratio

1.38%

Edelweiss Business Cycle Fund Direct-Growth

Fund Performance: The Edelweiss Business Cycle Fund Direct-Growth comes under the Equity category of Edelweiss Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in Edelweiss Business Cycle Fund Direct-Growth via lump sum is ₹ 100.00 and via SIP is ₹ 100.00.

Min Investment Amt

₹ 100.00

AUM

₹ 1,448.64Cr

1Y Returns

6.76%

Expense Ratio

1.31%

Mahindra Manulife Business Cycle Fund Direct-Growth

Fund Performance: The Mahindra Manulife Business Cycle Fund Direct-Growth comes under the Equity category of Mahindra Manulife Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in Mahindra Manulife Business Cycle Fund Direct-Growth via lump sum is ₹ 1,000.00 and via SIP is ₹ 500.00.

Min Investment Amt

₹ 1,000.00

AUM

₹ 1,356.69Cr

1Y Returns

10.89%

Expense Ratio

0.91%

DSP Business Cycle Fund Direct-Growth

Fund Performance: The DSP Business Cycle Fund Direct-Growth comes under the Equity category of DSP Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in DSP Business Cycle Fund Direct-Growth via lump sum is ₹ 100.00 and via SIP is ₹ 100.00.

Min Investment Amt

₹ 100.00

AUM

₹ 1,334.42Cr

1Y Returns

4.61%

Expense Ratio

1.15%

Invesco India Business Cycle Fund Direct-Growth

Fund Performance: The Invesco India Business Cycle Fund Direct-Growth comes under the Equity category of Invesco Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in Invesco India Business Cycle Fund Direct-Growth via lump sum is ₹ 100.00 and via SIP is ₹ 100.00.

Min Investment Amt

₹ 100.00

AUM

₹ 1,296.74Cr

1Y Returns

15.17%

Expense Ratio

0.82%

HSBC Business Cycles Fund Direct-Growth

Fund Performance: HSBC Business Cycles Fund Direct-Growth has given 16.42% annualized returns in the past three years and 15.99% in the last 5 years. The HSBC Business Cycles Fund Direct-Growth comes under the Equity category of HSBC Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in HSBC Business Cycles Fund Direct-Growth via lump sum is ₹ 5,000.00 and via SIP is ₹ 500.00.

Min Investment Amt

₹ 5,000.00

AUM

₹ 1,182.34Cr

1Y Returns

5.46%

Expense Ratio

1.12%

Bandhan Business Cycle Fund Direct-Growth

Fund Performance: The Bandhan Business Cycle Fund Direct-Growth comes under the Equity category of Bandhan Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in Bandhan Business Cycle Fund Direct-Growth via lump sum is ₹ 1,000.00 and via SIP is ₹ 100.00.

Min Investment Amt

₹ 1,000.00

AUM

₹ 1,165.94Cr

1Y Returns

0.93%

Expense Ratio

0.97%

Quant Business Cycle Fund Direct-Growth

Fund Performance: Quant Business Cycle Fund Direct-Growth has given 11.79% annualized returns in the past three years. The Quant Business Cycle Fund Direct-Growth comes under the Equity category of Quant Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in Quant Business Cycle Fund Direct-Growth via lump sum is ₹ 5,000.00 and via SIP is ₹ 1,000.00.

Min Investment Amt

₹ 5,000.00

AUM

₹ 995.91Cr

1Y Returns

8.94%

Expense Ratio

1.44%