Baroda BNP Paribas Business Cycle Fund is a Thematic fund run by Baroda BNP Paribas Mutual Fund. On 30-09-2026, it managed ₹535 Cr of investors' money. In the 3 years to 30-10-2026, its Direct plan returned 12.4% a year and its Regular plan returned 10.8% a year. Its benchmark, BSE 500 TRI, returned 9.9% a year over the same 3 years.
NAV (Direct plan)
₹16.45
▼ 0.51% · 30-10-2026
NAV (Regular plan)
₹15.26
▼ 0.51% · 30-10-2026
Expense ratio
1.07%Direct2.52%Regular
1.07%
A year
Riskometer
Not available
Set by the fund house
3 year return
12.4%Direct10.8%Regular
12.4%
A year
Baroda BNP Paribas Business Cycle Fund NAV Today
NAV on 30-10-2026: Direct Plan Growth ₹16.45 (down 0.51% that day); Regular Plan Growth ₹15.26 (down 0.51% that day).
This fund (Direct plan)
₹16.4459
Baroda BNP Paribas Business Cycle Fund Returns vs BSE 500 TRI
Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.
Trailing returns
Period
1M
3M
6M
1Y
3Y
5Y
10Y
This fund (Direct)
−1.29%
−4.05%
−1.51%
−2.27%
+12.36%
+10.53%
--
This fund (Regular)
−1.41%
−4.40%
−2.23%
−3.69%
+10.77%
+8.93%
--
BSE 500 TRI
−0.87%
−6.09%
−2.95%
−7.66%
+9.89%
+8.65%
+12.51%
Thematic average
−2.09%
−4.52%
+0.86%
−1.22%
+13.76%
+11.62%
--
Best in Thematic
+11.54%
+11.27%
+22.16%
+75.71%
+54.78%
+21.14%
--
Worst in Thematic
−16.05%
−11.74%
−13.97%
−22.44%
−4.46%
+3.65%
--
Rank in Thematic
77/235
86/232
132/232
91/215
70/133
53/96
--
Category rows compare the Direct plans of 235 Thematic funds. Rank 1 is the highest return.
Baroda BNP Paribas Business Cycle Fund Year-wise Returns
Return of each calendar year
Year
Direct
Regular
BSE 500 TRI
2026to date
−3.99%
−5.14%
−7.81%
2025
+2.32%
+0.80%
+7.63%
2024
+22.14%
+20.49%
+15.81%
2023
+32.60%
+30.98%
+26.55%
2022
+3.06%
+1.44%
+4.77%
Baroda BNP Paribas Business Cycle Fund Rolling Returns
The return of every holding period in the fund's history, not only the one that ends today
Rolling returns
Each point is the yearly return of one 3-year holding period, plotted on the day it ended. There are 518 periods, one for each trading day from 23-09-2024 to 30-10-2026.
0%5%10%15%20%25%
Baroda BNP Paribas Business Cycle Fund (Direct)
BSE 500 TRI
Nov 2021 to Nov 2024Apr 2022 to Apr 2025Aug 2022 to Aug 2025Dec 2022 to Dec 2025Apr 2023 to Apr 2026Aug 2023 to Aug 2026
Baroda BNP Paribas Business Cycle Fund (Direct)BSE 500 TRI
0%
0%
Below 0%
0%
0%
0-5%
0%
5%
5-10%
19%
39%
10-15%
66%
51%
15-20%
16%
5%
20-25%
0%
0%
Above 25%
Every holding period at a glance
Period
Periods
Median
Lowest
Highest
With a loss
Benchmark median
Beat benchmark
1 year
1,010
7.8%
−9.5%
51.9%
15%
8.4%
69%
2 years
763
19.0%
−3.5%
38.1%
4%
17.3%
86%
3 years
518
17.2%
11.4%
24.3%
0%
15.2%
100%
5 years
26
10.6%
9.7%
11.3%
0%
8.5%
100%
Every SIP holding period at a glance
Period
Periods
Median
Lowest
Highest
With a loss
Benchmark median
Beat benchmark
1 year
50
10.9%
−21.4%
54.2%
18%
10.7%
62%
2 years
38
12.9%
−5.7%
41.6%
3%
12.8%
74%
3 years
26
14.6%
3.7%
31.7%
0%
14.0%
92%
Lumpsum: the yearly rate (CAGR) from the NAV on a period's first day to the NAV on its last. SIP: the XIRR of the monthly instalments and their value on the last day. "With a loss" counts the periods that ended below the money put in. "Beat benchmark" counts the periods in which the fund did better than BSE 500 TRI over the same days. Past returns do not promise future returns.
Baroda BNP Paribas Business Cycle Fund Risk
How much it swings, and the falls an investor had to sit through
Risk and return
Measure
Baroda BNP Paribas Business Cycle Fund (Direct)This fund
BSE 500 TRI
Return (CAGR)
−2.27%
−7.66%
Standard deviation
13.17%
14.32%
Sharpe ratio
-0.57
-0.90
Sortino ratio
-0.77
-1.19
Maximum drawdown
−13.2%
(31-03-2026)
−14.8%
(30-03-2026)
Beta
0.90
1.00
Alpha
+4.05%
0.00%
From daily NAVs, 30-10-2025 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.
Measure
Baroda BNP Paribas Business Cycle Fund (Direct)This fund
BSE 500 TRI
Return (CAGR)
+12.36%
+9.89%
Standard deviation
13.58%
14.19%
Sharpe ratio
0.47
0.27
Sortino ratio
0.63
0.37
Maximum drawdown
−20.3%
(28-02-2025)
−18.7%
(28-02-2025)
Beta
0.93
1.00
Alpha
+2.74%
0.00%
From daily NAVs, 30-10-2023 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.
Measure
Baroda BNP Paribas Business Cycle Fund (Direct)This fund
BSE 500 TRI
Return (CAGR)
+10.53%
+8.65%
Standard deviation
13.75%
14.29%
Sharpe ratio
0.34
0.20
Sortino ratio
0.47
0.27
Maximum drawdown
−20.3%
(28-02-2025)
−18.7%
(28-02-2025)
Beta
0.94
1.00
Alpha
+2.06%
0.00%
From daily NAVs, 29-10-2021 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.
Measure
Baroda BNP Paribas Business Cycle Fund (Direct)This fund
BSE 500 TRI
Return (CAGR)
+10.19%
+8.68%
Standard deviation
13.70%
14.26%
Sharpe ratio
0.32
0.21
Sortino ratio
0.44
0.28
Maximum drawdown
−20.3%
(28-02-2025)
−18.7%
(28-02-2025)
Beta
0.93
1.00
Alpha
+1.70%
0.00%
From daily NAVs, 21-09-2021 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.
Drawdowns
How far below its previous high each one was on every day: the falls an investor had to sit through. 0% means it was at a new high.
−25%−20%−15%−10%−5%0%
Baroda BNP Paribas Business Cycle Fund (Direct)
BSE 500 TRI
20222023202420252026
Baroda BNP Paribas Business Cycle Fund (Direct)BSE 500 TRI
Worst fall
High before it
Bottom
Back at the high
Time to climb back
Below its high today
Baroda BNP Paribas Business Cycle Fund (Direct)
−20.3%
23-09-2024
28-02-2025
Not yet
--
−8.0%
BSE 500 TRI
−18.7%
26-09-2024
28-02-2025
Not yet
--
−9.4%
From the Direct plan's daily NAV since 21-09-2021, adjusted for unit splits, and BSE 500 TRI over the same days. "Time to climb back" runs from the bottom to the first day back at the old high.
Baroda BNP Paribas Business Cycle Fund vs Other Thematic Funds
The five Thematic funds with the best three year return, and this fund. Direct plans.
AUM is each fund's size at the end of its last reported month, from its own portfolio file. We calculate the risk ratios from daily NAVs over the last three years. The risk-free return is what NSE's overnight rate index earned over the same years. Alpha and beta compare each fund with its own benchmark's TRI. "--" means we have no figure: for alpha and beta, no daily series for that benchmark.
Baroda BNP Paribas Business Cycle Fund Expense Ratio and Costs
What each plan charges a year, in force from 01-10-2026
Plan
Base expense ratio
Brokerage
Transaction costs
Levies and GST
Total expense ratio
Thematic median
Cost rank (1 = cheapest)
Direct
0.83%
0.03%
0.00%
0.21%
1.07%
1.18%
85/235
Regular
2.07%
0.03%
0.00%
0.42%
2.52%
2.41%
141/235
The expense ratio comes out of the fund's assets every day, so every return on this page is already after it. Base expense ratio: the fund house's own fee. The total adds brokerage, the cost of executing trades, and statutory levies with GST. From AMFI's expense ratio file. Cost rank: where this plan comes when the Thematic funds' plans of the same type are sorted from the lowest total expense ratio to the highest.
Direct vs Regular: what the gap cost
Both plans own the same portfolio, so the difference in what they earned is the Regular plan's extra cost, taken out of its NAV.
Over the last
Regular
Direct
Direct earned more by
₹1 lakh became (Regular)
₹1 lakh became (Direct)
1 year
−3.69%
−2.27%
1.42%
₹96,310
₹97,730
3 years
10.77%
12.36%
1.59% a year
₹1,35,915
₹1,41,852
5 years
8.93%
10.53%
1.60% a year
₹1,53,369
₹1,64,968
Returns over more than 1 year are a rate a year (CAGR). ₹1 lakh invested once at the start of each period, valued on the last NAV.
Baroda BNP Paribas Business Cycle Fund SIP Calculator
What a one-time or monthly investment in this fund would be worth today, from its own NAV history
Growth of an investment
Step up each year
PeriodFor
₹10,000 on the first trading day of every month, from 21-09-2021 to 30-10-2026: 62 instalments, ₹6,20,000 in all.
Investment
Invested
Value now
Gain
Return a year
Direct planBaroda BNP Paribas Business Cycle Fund (Direct)
₹6,20,000
₹7,92,572
₹1,72,572
9.5%
Regular planBaroda BNP Paribas Business Cycle Fund (Regular)
Direct planBaroda BNP Paribas Business Cycle Fund (Direct)Regular planBaroda BNP Paribas Business Cycle Fund (Regular)BSE 500 TRICategory averageCategory average, 235 Thematic fundsAmount invested
From each plan's published NAV (Growth option), the benchmark's TRI and the category average, over the same days. Return a year: XIRR for a SIP, CAGR for a lumpsum, shown for a year or more. It does not include exit load, stamp duty or tax. Past returns do not promise future returns.
Baroda BNP Paribas Business Cycle Fund Asset Allocation
Asset allocation as on 30-09-2026
What the fund holds
94.3%Equity
Asset
Fund
Category
Equity
94.3%
94.5%
Cash and others
4.8%
4.0%
Debt
0.9%
1.5%
Market cap of stocks
Market cap
Fund
Category
Large Cap
65.3%
45.7%
Mid Cap
15.4%
19.6%
Small Cap
13.0%
24.1%
Not on AMFI's list
0.7%
2.3%
Share of the whole fund. Category: the average of the Thematic funds that hold stocks. Groups follow AMFI's latest list, as SEBI defines them: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.
Baroda BNP Paribas Business Cycle Fund Sector Allocation
Sector allocation of the fund's stocks as on 30-09-2026
Largest sectors
Banks19.4%
Electrical Equipment8.0%
Pharmaceuticals & Biotechnology8.0%
IT - Software7.3%
Petroleum Products4.9%
Automobiles4.2%
Construction4.1%
Auto Components4.0%
Consumer Durables3.7%
Aerospace & Defense2.9%
The ten largest of 29 sectors. The other 19 add up to 27.7%.
Sector changes
Sector
July 2026
August 2026
September 2026
Change
Banks
18.9%
18.4%
19.4%
+0.5%
Pharmaceuticals & Biotechnology
7.8%
7.9%
8.0%
+0.2%
Electrical Equipment
9.2%
8.1%
8.0%
−1.2%
IT - Software
8.1%
7.7%
7.3%
−0.8%
Petroleum Products
5.2%
4.9%
4.9%
−0.3%
Each sector's share of the fund at the end of each month. The five largest sectors of September 2026. Change: from July 2026 to September 2026, in % of the fund.
Baroda BNP Paribas Business Cycle Fund Portfolio Holdings
As on 30-09-2026 · 54 holdings · from the fund house's monthly portfolio
Holdings
Sector / Rating
Weight%
Holdings trend
1M change
ICICI Bank Limited
Banks
5.93%
+6.7%
Hitachi Energy India Limited
Electrical Equipment
5.16%
0.0%
Reliance Industries Limited
Petroleum Products
4.93%
0.0%
HDFC Bank Limited
Banks
4.53%
0.0%
Larsen & Toubro Limited
Construction
4.11%
0.0%
Sun Pharmaceutical Industries Limited
Pharmaceuticals & Biotechnology
3.21%
0.0%
Divi's Laboratories Limited
Pharmaceuticals & Biotechnology
3.13%
0.0%
Bharat Heavy Electricals Limited
Electrical Equipment
2.80%
0.0%
Kotak Mahindra Bank Limited
Banks
2.46%
0.0%
TVS Motor Company Limited
Automobiles
2.42%
0.0%
State Bank of India
Banks
2.34%
0.0%
Eternal Limited
Retailing
2.26%
0.0%
Bharti Airtel Limited
Telecom - Services
2.07%
0.0%
Persistent Systems Limited
IT - Software
2.04%
0.0%
Nestle India Limited
Food Products
1.98%
0.0%
Infosys Limited
IT - Software
1.86%
0.0%
Eicher Motors Limited
Automobiles
1.81%
0.0%
Aequs Limited
Aerospace & Defense
1.75%
0.0%
The Phoenix Mills Limited
Realty
1.69%
0.0%
ZF Commercial Vehicle Control Systems India Limited
Auto Components
1.65%
0.0%
Linde India Limited
Chemicals & Petrochemicals
1.49%
0.0%
Hindustan Zinc Limited
Non - Ferrous Metals
1.48%
+3.7%
LG Electronics India Ltd
Consumer Durables
1.45%
+8.7%
Ashok Leyland Limited
Agricultural, Commercial & Construction Vehicles
1.44%
New
Bosch Limited
Auto Components
1.43%
0.0%
Oracle Financial Services Software Limited
IT - Software
1.40%
0.0%
SKF India (Industrial) Ltd
Industrial Products
1.40%
+8.0%
Leela Palaces Hotels & Resorts Limited
Leisure Services
1.29%
−11.1%
Axis Bank Limited
Banks
1.24%
0.0%
Bharat Electronics Limited
Aerospace & Defense
1.18%
0.0%
Titan Company Limited
Consumer Durables
1.16%
0.0%
NHPC Limited
Power
1.13%
0.0%
360 One WAM Limited
Capital Markets
1.13%
0.0%
Bajaj Finserv Limited
Finance
1.11%
0.0%
ITC Limited
Diversified FMCG
1.11%
0.0%
Tata Capital Limited
Finance
1.10%
0.0%
JSW Dulux Limited
Consumer Durables
1.09%
0.0%
Yes Bank Limited
Banks
1.09%
0.0%
Torrent Pharmaceuticals Limited
Pharmaceuticals & Biotechnology
1.08%
0.0%
Fortis Healthcare Limited
Healthcare Services
1.07%
0.0%
City Union Bank Limited
Banks
1.06%
New
Varun Beverages Limited
Beverages
1.05%
+3.2%
Tata Consultancy Services Limited
IT - Software
1.04%
0.0%
Tech Mahindra Limited
IT - Software
1.00%
0.0%
Jtekt India Limited
Auto Components
0.96%
0.0%
Sterlite Technologies Limited
Telecom - Equipment & Accessories
0.94%
New
The India Cements Limited
Cement & Cement Products
0.94%
0.0%
364 Days Tbill (MD 10/12/2026) · Treasury bill
Sovereign
0.93%
HDFC Life Insurance Company Limited
Insurance
0.88%
0.0%
Power Grid Corporation of India Limited
Power
0.83%
0.0%
RBL Bank Limited
Banks
0.75%
New
Waterways Leisure Tourism Limited
Leisure Services
0.69%
−70.5%
Pine Labs Limited
Financial Technology (Fintech)
0.64%
−57.9%
Pfizer Limited
Pharmaceuticals & Biotechnology
0.54%
0.0%
Baroda BNP Paribas Business Cycle Fund Stocks Bought and Sold
All changes are between August 2026 and September 2026
More
Stocks bought and sold in September 2026
ICICI Bank Limited
↑Added
+6.7%
5.93%
Waterways Leisure Tourism Limited
↓Reduced
−70.5%
0.69%
Hindustan Zinc Limited
↑Added
+3.7%
1.48%
LG Electronics India Ltd
↑Added
+8.7%
1.45%
Ashok Leyland Limited
↑New
New
1.44%
The Federal Bank Limited
↓Sold out
−100%
was 1.43%
SKF India (Industrial) Ltd
↑Added
+8.0%
1.40%
Pine Labs Limited
↓Reduced
−57.9%
0.64%
Leela Palaces Hotels & Resorts Limited
↓Reduced
−11.1%
1.29%
Maruti Suzuki India Limited
↓Sold out
−100%
was 1.28%
Tata Motors Ltd
↓Sold out
−100%
was 1.26%
City Union Bank Limited
↑New
New
1.06%
Varun Beverages Limited
↑Added
+3.2%
1.05%
Sterlite Technologies Limited
↑New
New
0.94%
RBL Bank Limited
↑New
New
0.75%
Symbiotec Pharmalab Limited
↓Sold out
−100%
was 0.02%
No stocks in this group for September 2026.
A change is counted by the number of shares the fund holds, not by price. A stock can become a smaller part of the fund in a month when the fund bought more of it, if its price fell. Debt papers are left out.
Overlap: for each holding both funds own, the smaller of its two weights, added up. 40% means 40% of each fund's money sits in positions the other also holds. From each fund's latest monthly portfolio, matched by ISIN. Cash and hedged positions are left out. Funds that overlap under 10% are not listed. A high overlap does not make two funds the same: their costs, lock-in and category can differ.
Baroda BNP Paribas Business Cycle Fund Overview
Fund facts from the scheme summary document
Expense ratio (Direct)
1.07%
Expense ratio (Regular)
2.52%
Category
Thematic
Risk
Not available
Benchmark
Not available
Launch date
Not available
Minimum investment
Not available
Minimum additional investment
Not available
AUM
₹534.72 Cr (30-09-2026)
Lock in
Not available
Scheme code (Direct)
149141
ISIN (Direct)
INF955L01KK1
Scheme code (Regular)
149140
ISIN (Regular)
INF955L01KH7
NAV history
From 21-09-2021, 5.1 years
Exit load
Not available
Tax on Baroda BNP Paribas Business Cycle Fund returns
Baroda BNP Paribas Business Cycle Fund is taxed as an equity fund: 65% or more of it is in Indian stocks.
Units sold within 1 year: the gain is taxed at 20%.
Units held longer: gains above ₹1.25 lakh in a financial year, across all your equity funds and shares, are taxed at 12.5%.
IDCW (dividend) payouts are added to your income and taxed at your slab rate.
A stamp duty of 0.005% is deducted when you invest.
Rules in force from 23-07-2024 (Finance Act 2024). Tax depends on your own income; this is general information, not tax advice.
All plans and options
Plan
Option
NAV
As on
direct
Growth
₹16.4459
30-10-2026
direct
IDCW
₹13.7394
30-10-2026
regular
Growth
₹15.2609
30-10-2026
regular
IDCW
₹12.7485
30-10-2026
About Baroda BNP Paribas Business Cycle Fund
Baroda BNP Paribas Business Cycle Fund is a mutual fund from Baroda BNP Paribas Mutual Fund. Its category is Thematic. At the end of September 2026 it held 54 securities.
Frequently Asked Questions for Baroda BNP Paribas Business Cycle Fund
What is the current NAV of Baroda BNP Paribas Business Cycle Fund?
The Direct plan NAV is ₹16.4459. The Regular plan NAV is ₹15.2609, as on 30-10-2026.
What are the returns of Baroda BNP Paribas Business Cycle Fund?
The Direct plan returned −2.27% in 1 year, +12.36% a year over 3 years, +10.53% a year over 5 years. The Regular plan returned −3.69% in 1 year, +10.77% a year over 3 years, +8.93% a year over 5 years. These figures are as on 30-10-2026.
What is the expense ratio of Baroda BNP Paribas Business Cycle Fund?
The Direct plan charges 1.07% a year. The Regular plan charges 2.52% a year. This is the figure the fund house reported to AMFI, in force from 01-10-2026.
What is the AUM of Baroda BNP Paribas Business Cycle Fund?
Baroda BNP Paribas Business Cycle Fund managed ₹534.72 Cr on 30-09-2026, as its fund house reported in its monthly portfolio.
What are the top holdings of Baroda BNP Paribas Business Cycle Fund?
At the end of September 2026 the largest holdings were ICICIBANK (5.93%), POWERINDIA (5.16%), RELIANCE (4.93%), HDFCBANK (4.53%), LT (4.11%). The fund held 54 securities in all.
What did Baroda BNP Paribas Business Cycle Fund buy and sell in September 2026?
It bought 4 new stocks: Sterlite Technologies Limited, Ashok Leyland Limited, City Union Bank Limited, RBL Bank Limited. It sold out of 4: The Federal Bank Limited, Tata Motors Ltd, Maruti Suzuki India Limited, Symbiotec Pharmalab Limited. It added shares in 5. It reduced 3.
How do I invest in Baroda BNP Paribas Business Cycle Fund?
Through Baroda BNP Paribas Mutual Fund's website or app, a mutual fund distributor, or an investment platform. Choose the Direct plan to pay no distributor commission, or the Regular plan to invest through a distributor. You can invest once or through a monthly SIP.
How has Baroda BNP Paribas Business Cycle Fund performed against its benchmark?
Its benchmark is BSE 500 TRI. The Direct plan returned +10.53% a year over 5 years. The benchmark returned +8.65% a year over 5 years.
Sources: NAV and expense ratio from AMFI. Holdings from the fund house's monthly portfolio statement. Fund facts from its scheme summary document.
This page is information, not investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Past returns do not promise future returns. Figures come from AMFI, NSE, BSE and each fund house's own documents.
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