Baroda BNP Paribas Business Cycle Fund vs Baroda BNP Paribas Value 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 Value Fund is a Value and Contra fund. In the 3 years to 30-10-2026, Baroda BNP Paribas Business Cycle Fund (Direct) returned 12.4% a year and Baroda BNP Paribas Value Fund (Direct) returned 8.6% a year. Baroda BNP Paribas Business Cycle Fund charges 1.07% a year and Baroda BNP Paribas Value Fund 1.33% (Direct plans). Their portfolios overlap 50.1%: they hold 26 of the same securities.
Baroda BNP Paribas Business Cycle Fund
Thematic
- 3 year return
- 12.4%
- Expense ratio
- 1.07%
- NAV
- ₹16.45
Baroda BNP Paribas Value Fund
Value and Contra
- 3 year return
- 8.6%
- Expense ratio
- 1.33%
- NAV
- ₹13.49
Which is better, Baroda BNP Paribas Business Cycle or Baroda BNP Paribas Value? 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 Business Cycle returned more over 3 years: 12.4% a year against 8.6%.
- Baroda BNP Paribas Business Cycle returned more over 1 year: −2.3% against −7.0%.
- Baroda BNP Paribas Business Cycle costs less: 1.07% a year against 1.33% (Direct plans).
- Baroda BNP Paribas Business Cycle swung less over 3 years: a standard deviation of 13.6% a year against 14.6%.
- Baroda BNP Paribas Value fell less in its worst fall since 09-06-2023: −19.8% against −20.3%.
- Baroda BNP Paribas Value is the larger fund: ₹920 Cr against ₹535 Cr.
- Their portfolios overlap 50.1%: 26 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 Value Fund |
|---|---|---|
| Fund house | Baroda BNP Paribas Mutual Fund | Baroda BNP Paribas Mutual Fund |
| Category | Thematic | Value and Contra |
| AUM | ₹535 Cr (30-09-2026) | ₹920 Cr (30-09-2026) |
| NAV | ₹16.45 (Direct) | ₹13.49 (Direct) |
| Expense ratio (Direct) | 1.07% | 1.33% |
| Expense ratio (Regular) | 2.52% | 2.39% |
| 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 Value: 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 Value Fund (Direct) | −1.60% | −5.49% | −5.09% | −7.03% | +8.63% | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | +13.76% | +11.62% | -- |
| Value and Contra average | −2.09% | −5.76% | −3.23% | −5.72% | +11.83% | -- | -- |
Category average: the average of the 235 Thematic funds and the 30 Value and Contra funds, same plan type.
Baroda BNP Paribas Business Cycle vs Baroda BNP Paribas Value: Year-wise Returns
| Year | Business CycleBaroda BNP Paribas Business Cycle | ValueBaroda BNP Paribas Value |
|---|---|---|
| 2026to date | −3.99% | −8.29% |
| 2025 | +2.32% | +2.81% |
| 2024 | +22.14% | +16.53% |
| 2023 | +32.60% | -- |
| 2022 | +3.06% | -- |
Baroda BNP Paribas Business Cycle vs Baroda BNP Paribas Value: Rolling Returns
Every holding period of both funds, against BSE 500 TRI, the benchmark of Baroda BNP Paribas Business Cycle Fund
Rolling returns
Every 3-year holding period, 98 of them, one for each trading day from 09-06-2026 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 Value Fund (Direct)
BSE 500 TRI
to
Jun 2026Jul 2023
to
Jul 2026Aug 2023
to
Aug 2026Sept 2023
to
Sept 2026Sept 2023
to
Sept 2026Oct 2023
to
Oct 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 | 0.0 | 0.0 | 0.0 | 69.4 | 30.6 | 0.0 | 0.0 | 14.0% | 14.4% | 11.4% | 16.1% | 100% |
| Baroda BNP Paribas Value | 0.0 | 0.0 | 38.8 | 61.2 | 0.0 | 0.0 | 0.0 | 10.2% | 10.7% | 7.4% | 12.8% | 0% |
| BSE 500 TRI | 0.0 | 0.0 | 24.5 | 75.5 | 0.0 | 0.0 | 0.0 | 11.4% | 12.1% | 8.4% | 13.7% | -- |
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 09-06-2023. Past returns do not promise future returns.
Baroda BNP Paribas Business Cycle vs Baroda BNP Paribas Value: 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 01-06-2023 to 30-10-2026: 41 instalments, ₹4,10,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Baroda BNP Paribas Business CycleBaroda BNP Paribas Business Cycle Fund (Direct) | ₹4,10,000 | ₹4,45,793 | ₹35,793 | 4.9% |
| Baroda BNP Paribas ValueBaroda BNP Paribas Value Fund (Direct) | ₹4,10,000 | ₹4,14,219 | ₹4,219 | 0.6% |
Baroda BNP Paribas Business CycleBaroda BNP Paribas Business Cycle Fund (Direct)
Baroda BNP Paribas ValueBaroda BNP Paribas Value 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 Value: 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 Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | −2.27% | −7.03% |
| Standard deviation | 13.17% | 13.10% |
| Sharpe ratio | -0.57 | -0.94 |
| Sortino ratio | -0.77 | -1.22 |
| Maximum drawdown | −13.2% (31-03-2026) | −12.9% (31-03-2026) |
| Beta | 0.90 | 0.88 |
| Alpha | +4.05% | −1.19% |
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 Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.36% | +8.63% |
| Standard deviation | 13.58% | 14.57% |
| Sharpe ratio | 0.47 | 0.18 |
| Sortino ratio | 0.63 | 0.24 |
| Maximum drawdown | −20.3% (28-02-2025) | −19.8% (28-02-2025) |
| Beta | 0.93 | 0.98 |
| Alpha | +2.74% | −1.48% |
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 and alpha compare each fund with its own benchmark's TRI.
| Measure | Baroda BNP Paribas Business Cycle Fund (Direct) | Baroda BNP Paribas Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.19% | +9.13% |
| Standard deviation | 13.70% | 14.07% |
| Sharpe ratio | 0.32 | 0.21 |
| Sortino ratio | 0.44 | 0.28 |
| Maximum drawdown | −20.3% (28-02-2025) | −19.8% (28-02-2025) |
| Beta | 0.93 | 0.98 |
| Alpha | +1.70% | −1.75% |
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 Value 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 Value Fund (Direct) | −19.8% | 27-09-2024 | 28-02-2025 | Not yet | -- | −14.5% |
| BSE 500 TRI | −18.7% | 26-09-2024 | 28-02-2025 | Not yet | -- | −9.4% |
From daily values since 09-06-2023, 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 Value Fund (Direct)
BSE 500 TRI
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 3-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 Value Fund (Direct)
BSE 500 TRI
Against BSE 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Baroda BNP Paribas Business Cycle Fund (Direct) | 109% | 97% | 3.39% |
| Baroda BNP Paribas Value Fund (Direct) | 96% | 99% | 3.81% |
From month-end values since 09-06-2023. 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 Value: Portfolio Overlap
From each fund's latest monthly portfolio: Baroda BNP Paribas Business Cycle Fund, September 2026; Baroda BNP Paribas Value Fund, September 2026
Holdings in common
- Overlap
- 50.1%
- Held by both
- 26
- Only in Baroda BNP Paribas Business Cycle
- 28
- Only in Baroda BNP Paribas Value
- 27
| Security | % of Baroda BNP Paribas Business Cycle | % of Baroda BNP Paribas Value |
|---|---|---|
| ICICI Bank Limited | 5.93% | 5.17% |
| Reliance Industries Limited | 4.93% | 5.16% |
| HDFC Bank Limited | 4.53% | 5.41% |
| Larsen & Toubro Limited | 4.11% | 3.88% |
| Divi's Laboratories Limited | 3.13% | 4.04% |
| Bharat Heavy Electricals Limited | 2.80% | 4.52% |
| Sun Pharmaceutical Industries Limited | 3.21% | 2.67% |
| State Bank of India | 2.34% | 2.35% |
| Infosys Limited | 1.86% | 2.43% |
| Eicher Motors Limited | 1.81% | 1.89% |
| Hindustan Zinc Limited | 1.48% | 2.33% |
| LG Electronics India Ltd | 1.45% | 1.50% |
| Axis Bank Limited | 1.24% | 1.20% |
| Bharat Electronics Limited | 1.18% | 1.90% |
| NHPC Limited | 1.13% | 1.99% |
| ITC Limited | 1.11% | 1.54% |
| Yes Bank Limited | 1.09% | 1.31% |
| Torrent Pharmaceuticals Limited | 1.08% | 2.63% |
| JSW Dulux Limited | 1.09% | 1.05% |
| Tata Consultancy Services Limited | 1.04% | 1.00% |
| Tech Mahindra Limited | 1.00% | 2.39% |
| Jtekt India Limited | 0.96% | 1.56% |
| The India Cements Limited | 0.94% | 1.14% |
| HDFC Life Insurance Company Limited | 0.88% | 1.22% |
| Power Grid Corporation of India Limited | 0.83% | 1.96% |
| Varun Beverages Limited | 1.05% | 0.59% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 50.1% means 50.1% 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 |
|---|---|
| Hitachi Energy India Limited | 5.16% |
| Kotak Mahindra Bank Limited | 2.46% |
| TVS Motor Company Limited | 2.42% |
| Eternal Limited | 2.26% |
| Bharti Airtel Limited | 2.07% |
Largest holdings only in Baroda BNP Paribas Value Fund
| Security | % of fund |
|---|---|
| GE Vernova T&D India Limited | 2.28% |
| Oil India Limited | 1.95% |
| Zydus Lifesciences Limited | 1.89% |
| Tenneco Clean Air India Limited | 1.80% |
| Vedanta Aluminium Metal Limited | 1.78% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Baroda BNP Paribas Business Cycle | Baroda BNP Paribas Value |
|---|---|---|
| Equity | 94.3% | 98.1% |
| Debt | 0.9% | 0.5% |
| Cash and others | 4.8% | 1.4% |
Market cap of stocks
| Market cap | Baroda BNP Paribas Business Cycle | Baroda BNP Paribas Value |
|---|---|---|
| Large Cap | 65.3% | 67.3% |
| Mid Cap | 15.4% | 18.9% |
| Small Cap | 13.0% | 10.3% |
| Not on AMFI's list | 0.7% | 1.6% |
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 Value |
|---|---|---|
| Banks | 19.4% | 17.6% |
| Pharmaceuticals & Biotechnology | 8.0% | 13.3% |
| Electrical Equipment | 8.0% | 6.8% |
| IT - Software | 7.3% | 6.7% |
| Petroleum Products | 4.9% | 6.1% |
| Non - Ferrous Metals | 1.5% | 5.6% |
| Automobiles | 4.2% | 5.0% |
The six largest sectors of each fund's stocks, % of the fund.
Baroda BNP Paribas Business Cycle vs Baroda BNP Paribas Value: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Baroda BNP Paribas Business Cycle Fund | Baroda BNP Paribas Value Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.07% | 1.33% |
| Base expense ratio (Direct) | 0.83% | 1.02% |
| Total expense ratio (Regular) | 2.52% | 2.39% |
| Base expense ratio (Regular) | 2.07% | 1.92% |
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.
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Each fund against the others of its category
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Baroda BNP Paribas Business Cycle Fund vs Baroda BNP Paribas Value Fund: Frequently Asked Questions
What is the difference between Baroda BNP Paribas Business Cycle Fund and Baroda BNP Paribas Value Fund?
Baroda BNP Paribas Business Cycle Fund is a Thematic fund, Baroda BNP Paribas Value Fund is a Value and Contra fund, run by Baroda BNP Paribas Mutual Fund. Their portfolios overlap 50.1%. Baroda BNP Paribas Business Cycle Fund charges 1.07% a year and Baroda BNP Paribas Value Fund 1.33%.
Which has given higher returns, Baroda BNP Paribas Business Cycle Fund or Baroda BNP Paribas Value Fund?
Over 1 year: Baroda BNP Paribas Business Cycle Fund −2.27%, Baroda BNP Paribas Value Fund −7.03%. Over 3 years: Baroda BNP Paribas Business Cycle Fund +12.36% a year, Baroda BNP Paribas Value Fund +8.63% a year. 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 Value Fund?
Baroda BNP Paribas Business Cycle Fund charges less: 1.07% a year against 1.33%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Baroda BNP Paribas Business Cycle Fund and Baroda BNP Paribas Value Fund overlap?
50.1%. They hold 26 of the same securities, the largest shared ones being ICICIBANK, RELIANCE, HDFCBANK. From each fund's latest monthly portfolio.
Which is better for SIP, Baroda BNP Paribas Business Cycle Fund or Baroda BNP Paribas Value Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹3,87,425 in Baroda BNP Paribas Business Cycle Fund (XIRR 2.9% a year) and ₹3,62,321 in Baroda BNP Paribas Value Fund (XIRR -1.3% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both Baroda BNP Paribas Business Cycle Fund and Baroda BNP Paribas Value Fund?
Yes. 50.1% of each fund's money sits in the same holdings, so a large part 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.