Baroda BNP Paribas Business Cycle Fund vs Baroda BNP Paribas Manufacturing Fund
Direct Plan, Growth option · Data as on 30-10-2026
Baroda BNP Paribas Business Cycle Fund is a Thematic fund and Baroda BNP Paribas Manufacturing Fund is a Thematic fund. In the year to 30-10-2026, Baroda BNP Paribas Business Cycle Fund (Direct) returned −2.3% and Baroda BNP Paribas Manufacturing Fund (Direct) returned 2.2%. Baroda BNP Paribas Business Cycle Fund charges 1.07% a year and Baroda BNP Paribas Manufacturing Fund 1.32% (Direct plans). Their portfolios overlap 36.5%: they hold 18 of the same securities.
Baroda BNP Paribas Business Cycle Fund
Thematic
- 1 year return
- −2.3%
- Expense ratio
- 1.07%
- NAV
- ₹16.45
Baroda BNP Paribas Manufacturing Fund
Thematic
- 1 year return
- 2.2%
- Expense ratio
- 1.32%
- NAV
- ₹10.37
Which is better, Baroda BNP Paribas Business Cycle or Baroda BNP Paribas Manufacturing? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Baroda BNP Paribas Manufacturing returned more over 1 year: 2.2% against −2.3%.
- Baroda BNP Paribas Business Cycle costs less: 1.07% a year against 1.32% (Direct plans).
- Baroda BNP Paribas Business Cycle fell less in its worst fall since 03-07-2024: −20.3% against −22.0%.
- Baroda BNP Paribas Manufacturing is the larger fund: ₹783 Cr against ₹535 Cr.
- Their portfolios overlap 36.5%: 18 of the same holdings.
Past returns do not promise future returns. This page is information, not investment advice.
Key facts
From each fund's scheme summary document and AMFI
| Fact | Baroda BNP Paribas Business Cycle Fund | Baroda BNP Paribas Manufacturing Fund |
|---|---|---|
| Fund house | Baroda BNP Paribas Mutual Fund | Baroda BNP Paribas Mutual Fund |
| Category | Thematic | Thematic |
| AUM | ₹535 Cr (30-09-2026) | ₹783 Cr (30-09-2026) |
| NAV | ₹16.45 (Direct) | ₹10.37 (Direct) |
| Expense ratio (Direct) | 1.07% | 1.32% |
| Expense ratio (Regular) | 2.52% | 2.44% |
| Riskometer | Not available | Not available |
| Benchmark | Not available | Not available |
| Launch date | Not available | Not available |
| Minimum investment | Not available | Not available |
| Lock in | Not available | Not available |
| Fund managers | Not available | Not available |
| Exit load | Not available | Not available |
Baroda BNP Paribas Business Cycle vs Baroda BNP Paribas Manufacturing: Returns Comparison
Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.
| Fund | 1M | 3M | 6M | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|---|---|---|
| Baroda BNP Paribas Business Cycle Fund (Direct) | −1.29% | −4.05% | −1.51% | −2.27% | +12.36% | +10.53% | -- |
| Baroda BNP Paribas Manufacturing Fund (Direct) | −4.98% | −7.72% | −5.10% | +2.19% | -- | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | -- | -- | -- |
Category average: the average of the 235 Thematic funds, same plan type.
Baroda BNP Paribas Business Cycle vs Baroda BNP Paribas Manufacturing: Year-wise Returns
| Year | Business CycleBaroda BNP Paribas Business Cycle | ManufacturingBaroda BNP Paribas Manufacturing |
|---|---|---|
| 2026to date | −3.99% | +0.30% |
| 2025 | +2.32% | +8.79% |
| 2024 | +22.14% | -- |
| 2023 | +32.60% | -- |
| 2022 | +3.06% | -- |
Baroda BNP Paribas Business Cycle vs Baroda BNP Paribas Manufacturing: Rolling Returns
Every holding period of both funds, against BSE 500 TRI, the benchmark of Baroda BNP Paribas Business Cycle Fund
Rolling returns
Every 1-year holding period, 326 of them, one for each trading day from 03-07-2025 to 30-10-2026: the yearly return (CAGR) of each, plotted on the day it ended. One lucky or unlucky start day cannot flatter or hide a fund.
Baroda BNP Paribas Business Cycle Fund (Direct)
Baroda BNP Paribas Manufacturing Fund (Direct)
BSE 500 TRI
to
Aug 2025Nov 2024
to
Nov 2025Jan 2025
to
Jan 2026Apr 2025
to
Apr 2026Jul 2025
to
Jul 2026Sept 2025
to
Sept 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Baroda BNP Paribas Business Cycle | 31.3 | 41.1 | 21.2 | 5.2 | 1.2 | 0.0 | 0.0 | 2.4% | 2.3% | −9.5% | 16.3% | 50% |
| Baroda BNP Paribas Manufacturing | 19.0 | 10.4 | 17.5 | 22.7 | 14.7 | 13.2 | 2.5 | 10.2% | 10.7% | −6.0% | 29.8% | 81% |
| BSE 500 TRI | 35.3 | 32.8 | 23.9 | 6.7 | 1.2 | 0.0 | 0.0 | 2.6% | 1.9% | −9.2% | 15.7% | -- |
The table shows the % of periods in each return band; a darker cell holds more of them. Lumpsum: the yearly rate (CAGR) from a period's first NAV to its last. SIP: the XIRR of the monthly instalments. The benchmark is BSE 500 TRI, over the same periods. "Beat benchmark" counts the periods in which the fund did better. Every fund is measured over the days all of them have, from 03-07-2024. Past returns do not promise future returns.
Baroda BNP Paribas Business Cycle vs Baroda BNP Paribas Manufacturing: SIP and Lumpsum Returns
What the same monthly or one-time investment would be worth in each fund today, from their own NAV history
Growth of an investment
₹10,000 on the first trading day of every month, from 01-07-2024 to 30-10-2026: 28 instalments, ₹2,80,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Baroda BNP Paribas Business CycleBaroda BNP Paribas Business Cycle Fund (Direct) | ₹2,80,000 | ₹2,79,261 | −₹739 | −0.2% |
| Baroda BNP Paribas ManufacturingBaroda BNP Paribas Manufacturing Fund (Direct) | ₹2,80,000 | ₹2,90,154 | ₹10,154 | 3.0% |
Baroda BNP Paribas Business CycleBaroda BNP Paribas Business Cycle Fund (Direct)
Baroda BNP Paribas ManufacturingBaroda BNP Paribas Manufacturing Fund (Direct)
Amount invested
From each plan's published NAV (Growth option), 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 vs Baroda BNP Paribas Manufacturing: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Baroda BNP Paribas Business Cycle Fund (Direct) | Baroda BNP Paribas Manufacturing Fund (Direct) |
|---|---|---|
| Return (CAGR) | −2.27% | +2.19% |
| Standard deviation | 13.17% | 14.97% |
| Sharpe ratio | -0.57 | -0.20 |
| Sortino ratio | -0.77 | -0.27 |
| Maximum drawdown | −13.2% (31-03-2026) | −13.9% (23-10-2026) |
| Beta | 0.90 | 0.91 |
| Alpha | +4.05% | +3.25% |
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 and alpha compare each fund with its own benchmark's TRI.
| Measure | Baroda BNP Paribas Business Cycle Fund (Direct) | Baroda BNP Paribas Manufacturing Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.19% | +1.37% |
| Standard deviation | 13.70% | 14.49% |
| Sharpe ratio | 0.32 | -0.30 |
| Sortino ratio | 0.44 | -0.40 |
| Maximum drawdown | −20.3% (28-02-2025) | −22.0% (28-02-2025) |
| Beta | 0.93 | 0.87 |
| Alpha | +1.70% | −0.48% |
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 and alpha compare each fund with its own benchmark's TRI.
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.
Baroda BNP Paribas Business Cycle Fund (Direct)
Baroda BNP Paribas Manufacturing Fund (Direct)
BSE 500 TRI
| Fund | 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% |
| Baroda BNP Paribas Manufacturing Fund (Direct) | −22.0% | 27-09-2024 | 28-02-2025 | 02-01-2026 | 10 months | −12.1% |
| BSE 500 TRI | −18.7% | 26-09-2024 | 28-02-2025 | Not yet | -- | −9.4% |
From daily values since 03-07-2024, the first day every fund has.
Rolling standard deviation
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 1-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Baroda BNP Paribas Business Cycle Fund (Direct)
Baroda BNP Paribas Manufacturing Fund (Direct)
BSE 500 TRI
Against BSE 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Baroda BNP Paribas Business Cycle Fund (Direct) | 100% | 96% | 3.63% |
| Baroda BNP Paribas Manufacturing Fund (Direct) | 108% | 89% | 7.21% |
From month-end values since 03-07-2024. Up capture: a fund's average month when the benchmark rose, as % of the benchmark's; above 100% it gained more. Down capture: the same for months the benchmark fell; below 100% it fell less. Tracking error: how far the monthly returns strayed from the benchmark's, a year; an index fund aims near 0.
Baroda BNP Paribas Business Cycle vs Baroda BNP Paribas Manufacturing: Portfolio Overlap
From each fund's latest monthly portfolio: Baroda BNP Paribas Business Cycle Fund, September 2026; Baroda BNP Paribas Manufacturing Fund, September 2026
Holdings in common
- Overlap
- 36.5%
- Held by both
- 18
- Only in Baroda BNP Paribas Business Cycle
- 36
- Only in Baroda BNP Paribas Manufacturing
- 24
| Security | % of Baroda BNP Paribas Business Cycle | % of Baroda BNP Paribas Manufacturing |
|---|---|---|
| Hitachi Energy India Limited | 5.16% | 5.87% |
| Reliance Industries Limited | 4.93% | 5.22% |
| Sun Pharmaceutical Industries Limited | 3.21% | 4.80% |
| Divi's Laboratories Limited | 3.13% | 7.72% |
| Bharat Heavy Electricals Limited | 2.80% | 5.73% |
| TVS Motor Company Limited | 2.42% | 2.89% |
| Eicher Motors Limited | 1.81% | 1.87% |
| Aequs Limited | 1.75% | 1.80% |
| ZF Commercial Vehicle Control Systems India Limited | 1.65% | 2.26% |
| Linde India Limited | 1.49% | 2.69% |
| Hindustan Zinc Limited | 1.48% | 3.14% |
| Bosch Limited | 1.43% | 2.44% |
| Bharat Electronics Limited | 1.18% | 1.79% |
| LG Electronics India Ltd | 1.45% | 1.10% |
| Jtekt India Limited | 0.96% | 1.24% |
| The India Cements Limited | 0.94% | 0.82% |
| SKF India (Industrial) Ltd | 1.40% | 0.64% |
| Pfizer Limited | 0.54% | 0.78% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 36.5% means 36.5% of each fund's money sits in positions the other also holds. Matched by ISIN. Cash and hedged positions are left out.
Largest holdings only in Baroda BNP Paribas Business Cycle Fund
| Security | % of fund |
|---|---|
| ICICI Bank Limited | 5.93% |
| HDFC Bank Limited | 4.53% |
| Larsen & Toubro Limited | 4.11% |
| Kotak Mahindra Bank Limited | 2.46% |
| State Bank of India | 2.34% |
Largest holdings only in Baroda BNP Paribas Manufacturing Fund
| Security | % of fund |
|---|---|
| Vedanta Aluminium Metal Limited | 3.23% |
| Mahindra & Mahindra Limited | 3.22% |
| National Aluminium Company Limited | 2.92% |
| Sumitomo Chemical India Limited | 2.49% |
| Cummins India Limited | 2.43% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Baroda BNP Paribas Business Cycle | Baroda BNP Paribas Manufacturing |
|---|---|---|
| Equity | 94.3% | 94.7% |
| Debt | 0.9% | 1.9% |
| Cash and others | 4.8% | 3.4% |
Market cap of stocks
| Market cap | Baroda BNP Paribas Business Cycle | Baroda BNP Paribas Manufacturing |
|---|---|---|
| Large Cap | 65.3% | 59.3% |
| Mid Cap | 15.4% | 19.1% |
| Small Cap | 13.0% | 16.3% |
| Not on AMFI's list | 0.7% | 0.0% |
Share of the whole fund. Groups follow AMFI's latest list: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.
Largest sectors
| Sector | Baroda BNP Paribas Business Cycle | Baroda BNP Paribas Manufacturing |
|---|---|---|
| Banks | 19.4% | 0.0% |
| Pharmaceuticals & Biotechnology | 8.0% | 17.1% |
| Electrical Equipment | 8.0% | 13.8% |
| Automobiles | 4.2% | 13.5% |
| Non - Ferrous Metals | 1.5% | 9.3% |
| Auto Components | 4.0% | 9.0% |
| IT - Software | 7.3% | 0.0% |
| Chemicals & Petrochemicals | 1.5% | 6.0% |
| Petroleum Products | 4.9% | 5.2% |
The six largest sectors of each fund's stocks, % of the fund.
Baroda BNP Paribas Business Cycle vs Baroda BNP Paribas Manufacturing: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Baroda BNP Paribas Business Cycle Fund | Baroda BNP Paribas Manufacturing Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.07% | 1.32% |
| Base expense ratio (Direct) | 0.83% | 1.01% |
| Total expense ratio (Regular) | 2.52% | 2.44% |
| Base expense ratio (Regular) | 2.07% | 1.97% |
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, transaction costs, and levies with GST.
More comparisons
Each fund against the others of its category
Compare Baroda BNP Paribas Business Cycle with
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- Baroda BNP Paribas Business Cycle vs SBI Healthcare Opportunities
- Baroda BNP Paribas Business Cycle vs Aditya Birla Sun Life International Equity
Compare Baroda BNP Paribas Manufacturing with
- Baroda BNP Paribas Manufacturing vs Nippon India Taiwan Equity
- Baroda BNP Paribas Manufacturing vs HDFC Defence
- Baroda BNP Paribas Manufacturing vs HDFC Pharma and Healthcare
- Baroda BNP Paribas Manufacturing vs SBI Healthcare Opportunities
- Baroda BNP Paribas Manufacturing vs Aditya Birla Sun Life International Equity
Baroda BNP Paribas Business Cycle Fund vs Baroda BNP Paribas Manufacturing Fund: Frequently Asked Questions
What is the difference between Baroda BNP Paribas Business Cycle Fund and Baroda BNP Paribas Manufacturing Fund?
Baroda BNP Paribas Business Cycle Fund is a Thematic fund, Baroda BNP Paribas Manufacturing Fund is a Thematic fund, run by Baroda BNP Paribas Mutual Fund. Their portfolios overlap 36.5%. Baroda BNP Paribas Business Cycle Fund charges 1.07% a year and Baroda BNP Paribas Manufacturing Fund 1.32%.
Which has given higher returns, Baroda BNP Paribas Business Cycle Fund or Baroda BNP Paribas Manufacturing Fund?
Over 1 year: Baroda BNP Paribas Business Cycle Fund −2.27%, Baroda BNP Paribas Manufacturing Fund +2.19%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Baroda BNP Paribas Business Cycle Fund or Baroda BNP Paribas Manufacturing Fund?
Baroda BNP Paribas Business Cycle Fund charges less: 1.07% a year against 1.32%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Baroda BNP Paribas Business Cycle Fund and Baroda BNP Paribas Manufacturing Fund overlap?
36.5%. They hold 18 of the same securities, the largest shared ones being POWERINDIA, RELIANCE, SUNPHARMA. From each fund's latest monthly portfolio.
Can I invest in both Baroda BNP Paribas Business Cycle Fund and Baroda BNP Paribas Manufacturing Fund?
Yes. 36.5% of each fund's money sits in the same holdings, so some of the two investments would move together.
Sources: NAV and expense ratio from AMFI. Holdings from each fund house's monthly portfolio statement. Fund facts from each 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.