Canara Robeco Flexi Cap Fund vs HSBC Business Cycles Fund
Direct Plan, Growth option · Data as on 30-10-2026
Canara Robeco Flexi Cap Fund is a Flexi Cap fund and HSBC Business Cycles Fund is a Thematic fund. In the 3 years to 30-10-2026, Canara Robeco Flexi Cap Fund (Direct) returned 11.5% a year and HSBC Business Cycles Fund (Direct) returned 14.8% a year. Canara Robeco Flexi Cap Fund charges 0.71% a year and HSBC Business Cycles Fund 1.15% (Direct plans). Their portfolios overlap 33.8%: they hold 25 of the same securities.
Canara Robeco Flexi Cap Fund
Flexi Cap
- 3 year return
- 11.5%
- Expense ratio
- 0.71%
- NAV
- ₹371.28
HSBC Business Cycles Fund
Thematic
- 3 year return
- 14.8%
- Expense ratio
- 1.15%
- NAV
- ₹45.39
Which is better, Canara Robeco Flexi Cap or HSBC Business Cycles? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HSBC Business Cycles returned more over 3 years: 14.8% a year against 11.5%.
- HSBC Business Cycles returned more over 1 year: −4.8% against −6.3%.
- Canara Robeco Flexi Cap costs less: 0.71% a year against 1.15% (Direct plans).
- Canara Robeco Flexi Cap swung less over 3 years: a standard deviation of 13.5% a year against 18.2%.
- Canara Robeco Flexi Cap fell less in its worst fall since 28-11-2022: −17.5% against −23.4%.
- Canara Robeco Flexi Cap holds more in large companies: 70.3% of the fund in large caps against 39.7%.
- Canara Robeco Flexi Cap is the larger fund: ₹12,782 Cr against ₹1,179 Cr.
- Their portfolios overlap 33.8%: 25 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 | Canara Robeco Flexi Cap Fund | HSBC Business Cycles Fund |
|---|---|---|
| Fund house | Canara Robeco Mutual Fund | HSBC Mutual Fund |
| Category | Flexi Cap | Thematic |
| AUM | ₹12,782 Cr (30-09-2026) | ₹1,179 Cr (30-09-2026) |
| NAV | ₹371.28 (Direct) | ₹45.39 (Direct) |
| Expense ratio (Direct) | 0.71% | 1.15% |
| Expense ratio (Regular) | 1.83% | 2.36% |
| Riskometer | Very High | Very High |
| Benchmark | BSE 500 TRI | Nifty 500 TRI |
| Launch date | 16-09-2003 | 20-08-2014 |
| Minimum investment | ₹5,000 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Shridatta Bhandwaldar / Mr. Pranav Gokhale | Gautam Bhupal, Mayank Chaturvedi, Dipan S. Parikh |
| Exit load | 1% - if redeemed/switched out within 1 year from the date of allotment. Nil – if redeemed / switched out after 1 year from the date of allotment. | Exit load for units in excess of 10% of the investment,1% will be charged for redemption within 1 year. |
Canara Robeco Flexi Cap vs HSBC Business Cycles: 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 |
|---|---|---|---|---|---|---|---|
| Canara Robeco Flexi Cap Fund (Direct) | +0.09% | −4.74% | −0.45% | −6.26% | +11.53% | +8.62% | +13.80% |
| HSBC Business Cycles Fund (Direct) | −4.91% | −4.16% | −2.14% | −4.83% | +14.78% | -- | -- |
| Flexi Cap average | −1.62% | −4.17% | +1.00% | −3.58% | +12.37% | +10.04% | +13.13% |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | +13.76% | -- | -- |
Category average: the average of the 46 Flexi Cap funds and the 235 Thematic funds, same plan type.
Canara Robeco Flexi Cap vs HSBC Business Cycles: Year-wise Returns
| Year | Canara Robeco Flexi CapCanara Robeco Flexi Cap | HSBC Business CyclesHSBC Business Cycles |
|---|---|---|
| 2026to date | −5.74% | −2.27% |
| 2025 | +8.27% | −1.62% |
| 2024 | +19.24% | +37.79% |
| 2023 | +24.31% | +32.74% |
| 2022 | −0.33% | -- |
| 2021 | +34.40% | -- |
Canara Robeco Flexi Cap vs HSBC Business Cycles: Rolling Returns
Every holding period of both funds, against BSE 500 TRI, the benchmark of Canara Robeco Flexi Cap Fund
Rolling returns
Every 3-year holding period, 226 of them, one for each trading day from 28-11-2025 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.
Canara Robeco Flexi Cap Fund (Direct)
HSBC Business Cycles Fund (Direct)
BSE 500 TRI
to
Dec 2025Feb 2023
to
Feb 2026Apr 2023
to
Apr 2026Jun 2023
to
Jun 2026Aug 2023
to
Aug 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Canara Robeco Flexi Cap | 0.0 | 0.0 | 0.9 | 59.3 | 39.8 | 0.0 | 0.0 | 14.2% | 13.9% | 9.9% | 18.0% | 73% |
| HSBC Business Cycles | 0.0 | 0.0 | 0.0 | 2.2 | 68.1 | 29.6 | 0.0 | 18.4% | 18.1% | 13.9% | 23.1% | 100% |
| BSE 500 TRI | 0.0 | 0.0 | 10.6 | 52.2 | 37.2 | 0.0 | 0.0 | 13.7% | 13.8% | 8.4% | 17.8% | -- |
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 28-11-2022. Past returns do not promise future returns.
Canara Robeco Flexi Cap vs HSBC Business Cycles: 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 01-11-2022 to 30-10-2026: 48 instalments, ₹4,80,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Canara Robeco Flexi CapCanara Robeco Flexi Cap Fund (Direct) | ₹4,80,000 | ₹5,51,432 | ₹71,432 | 6.9% |
| HSBC Business CyclesHSBC Business Cycles Fund (Direct) | ₹4,80,000 | ₹5,75,761 | ₹95,761 | 9.1% |
Canara Robeco Flexi CapCanara Robeco Flexi Cap Fund (Direct)
HSBC Business CyclesHSBC Business Cycles 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.
Canara Robeco Flexi Cap vs HSBC Business Cycles: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Canara Robeco Flexi Cap Fund (Direct) | HSBC Business Cycles Fund (Direct) |
|---|---|---|
| Return (CAGR) | −6.26% | −4.83% |
| Standard deviation | 14.16% | 18.00% |
| Sharpe ratio | -0.81 | -0.56 |
| Sortino ratio | -1.09 | -0.76 |
| Maximum drawdown | −14.3% (30-03-2026) | −16.9% (31-03-2026) |
| Beta | 0.98 | 1.17 |
| Alpha | +1.13% | +4.65% |
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 | Canara Robeco Flexi Cap Fund (Direct) | HSBC Business Cycles Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.53% | +14.78% |
| Standard deviation | 13.46% | 18.20% |
| Sharpe ratio | 0.41 | 0.48 |
| Sortino ratio | 0.56 | 0.65 |
| Maximum drawdown | −17.5% (28-02-2025) | −23.4% (03-03-2025) |
| Beta | 0.93 | 1.19 |
| Alpha | +1.89% | +3.76% |
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 | Canara Robeco Flexi Cap Fund (Direct) | HSBC Business Cycles Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.51% | +14.81% |
| Standard deviation | 15.29% | 16.72% |
| Sharpe ratio | 0.49 | 0.52 |
| Sortino ratio | 0.66 | 0.70 |
| Maximum drawdown | −33.2% (23-03-2020) | −23.4% (03-03-2025) |
| Beta | 0.95 | 1.16 |
| Alpha | +1.04% | +4.49% |
From daily NAVs, 02-01-2013 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.
Canara Robeco Flexi Cap Fund (Direct)
HSBC Business Cycles Fund (Direct)
BSE 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Canara Robeco Flexi Cap Fund (Direct) | −17.5% | 26-09-2024 | 28-02-2025 | 17-09-2025 | 7 months | −6.7% |
| HSBC Business Cycles Fund (Direct) | −23.4% | 11-12-2024 | 03-03-2025 | 26-08-2026 | 18 months | −9.0% |
| BSE 500 TRI | −18.7% | 26-09-2024 | 28-02-2025 | Not yet | -- | −9.4% |
From daily values since 28-11-2022, 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.
Canara Robeco Flexi Cap Fund (Direct)
HSBC Business Cycles 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.
Canara Robeco Flexi Cap Fund (Direct)
HSBC Business Cycles Fund (Direct)
BSE 500 TRI
Against BSE 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Canara Robeco Flexi Cap Fund (Direct) | 96% | 87% | 2.62% |
| HSBC Business Cycles Fund (Direct) | 127% | 105% | 8.56% |
From month-end values since 28-11-2022. 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.
Canara Robeco Flexi Cap vs HSBC Business Cycles: Portfolio Overlap
From each fund's latest monthly portfolio: Canara Robeco Flexi Cap Fund, September 2026; HSBC Business Cycles Fund, September 2026
Holdings in common
- Overlap
- 33.8%
- Held by both
- 25
- Only in Canara Robeco Flexi Cap
- 58
- Only in HSBC Business Cycles
- 45
| Security | % of Canara Robeco Flexi Cap | % of HSBC Business Cycles |
|---|---|---|
| ICICI Bank Ltd | 6.62% | 5.33% |
| HDFC Bank Ltd | 6.48% | 2.97% |
| Reliance Industries Ltd | 3.43% | 2.58% |
| Larsen & Toubro Ltd | 3.11% | 2.12% |
| State Bank of India | 2.42% | 1.86% |
| Eternal Ltd | 2.99% | 1.74% |
| Kotak Mahindra Bank Ltd | 1.68% | 1.95% |
| TVS Motor Co Ltd | 1.67% | 1.74% |
| Interglobe Aviation Ltd | 1.40% | 3.38% |
| Bharat Electronics Ltd | 1.25% | 2.22% |
| Ultratech Cement Ltd | 1.23% | 1.82% |
| Multi Commodity Exchange Of India Ltd | 1.18% | 1.85% |
| Hindustan Aeronautics Ltd | 1.05% | 2.53% |
| Ge Vernova T&D India Ltd | 1.00% | 2.10% |
| FSN E-Commerce Ventures Ltd | 0.93% | 1.14% |
| Titan Co Ltd | 0.89% | 1.13% |
| Lenskart Solutions Ltd | 1.40% | 0.80% |
| Cholamandalam Investment and Finance Co Ltd | 1.47% | 0.73% |
| Billionbrains Garage Ventures Ltd | 0.68% | 1.10% |
| Maruti Suzuki India Ltd | 0.60% | 1.02% |
| Meesho Ltd | 0.59% | 1.16% |
| HDFC Asset Management Co Ltd | 0.89% | 0.48% |
| APL Apollo Tubes Ltd | 0.44% | 1.86% |
| PB Fintech Ltd | 0.42% | 1.08% |
| Tata Motors Ltd | 0.15% | 0.89% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 33.8% means 33.8% 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 Canara Robeco Flexi Cap Fund
| Security | % of fund |
|---|---|
| Bharti Airtel Ltd | 3.78% |
| Bajaj Finance Ltd | 2.97% |
| Axis Bank Ltd | 2.51% |
| Infosys Ltd | 2.50% |
| Mahindra & Mahindra Ltd | 2.37% |
Largest holdings only in HSBC Business Cycles Fund
| Security | % of fund |
|---|---|
| Mtar Technologies Limited | 3.90% |
| RBL Bank Limited | 2.43% |
| ICICI Prudential AMC Ltd | 2.26% |
| PNB Housing Finance Limited | 1.85% |
| ELECTRONICS MART INDIA LIMITED | 1.83% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Canara Robeco Flexi Cap | HSBC Business Cycles |
|---|---|---|
| Equity | 96.3% | 98.1% |
| Debt | 0.0% | 0.0% |
| Cash and others | 3.7% | 1.9% |
Market cap of stocks
| Market cap | Canara Robeco Flexi Cap | HSBC Business Cycles |
|---|---|---|
| Large Cap | 70.3% | 39.7% |
| Mid Cap | 21.4% | 18.2% |
| Small Cap | 4.6% | 38.8% |
| Not on AMFI's list | 0.0% | 1.4% |
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 | Canara Robeco Flexi Cap | HSBC Business Cycles |
|---|---|---|
| Banks | 19.9% | 14.5% |
| Capital Markets | 3.3% | 10.9% |
| Electrical Equipment | 1.8% | 8.8% |
| Retailing | 8.5% | 8.0% |
| Pharmaceuticals & Biotechnology | 6.7% | 0.0% |
| Industrial Products | 2.2% | 6.4% |
| Finance | 5.5% | 4.8% |
| Construction | 3.1% | 5.0% |
| Automobiles | 4.6% | 2.8% |
| IT - Software | 4.5% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
Canara Robeco Flexi Cap vs HSBC Business Cycles: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Canara Robeco Flexi Cap Fund | HSBC Business Cycles Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.71% | 1.15% |
| Base expense ratio (Direct) | 0.52% | 0.87% |
| Total expense ratio (Regular) | 1.83% | 2.36% |
| Base expense ratio (Regular) | 1.47% | 1.89% |
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 Canara Robeco Flexi Cap with
Canara Robeco Flexi Cap Fund vs HSBC Business Cycles Fund: Frequently Asked Questions
What is the difference between Canara Robeco Flexi Cap Fund and HSBC Business Cycles Fund?
Canara Robeco Flexi Cap Fund is a Flexi Cap fund, HSBC Business Cycles Fund is a Thematic fund, run by Canara Robeco Mutual Fund and HSBC Mutual Fund. Their portfolios overlap 33.8%. Canara Robeco Flexi Cap Fund charges 0.71% a year and HSBC Business Cycles Fund 1.15%.
Which has given higher returns, Canara Robeco Flexi Cap Fund or HSBC Business Cycles Fund?
Over 1 year: Canara Robeco Flexi Cap Fund −6.26%, HSBC Business Cycles Fund −4.83%. Over 3 years: Canara Robeco Flexi Cap Fund +11.53% a year, HSBC Business Cycles Fund +14.78% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Canara Robeco Flexi Cap Fund or HSBC Business Cycles Fund?
Canara Robeco Flexi Cap Fund charges less: 0.71% a year against 1.15%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Canara Robeco Flexi Cap Fund and HSBC Business Cycles Fund overlap?
33.8%. They hold 25 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, RELIANCE. From each fund's latest monthly portfolio.
Which is riskier, Canara Robeco Flexi Cap Fund or HSBC Business Cycles Fund?
On SEBI's riskometer, Canara Robeco Flexi Cap Fund is rated Very High and HSBC Business Cycles Fund Very High. Over 3 years, the standard deviation of daily returns was 13.46% and 18.20% a year.
Which is better for SIP, Canara Robeco Flexi Cap Fund or HSBC Business Cycles Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹3,89,408 in Canara Robeco Flexi Cap Fund (XIRR 3.3% a year) and ₹3,92,681 in HSBC Business Cycles Fund (XIRR 3.8% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both Canara Robeco Flexi Cap Fund and HSBC Business Cycles Fund?
Yes. 33.8% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Canara Robeco Flexi Cap Fund and HSBC Business Cycles Fund?
Canara Robeco Flexi Cap Fund: Shridatta Bhandwaldar / Mr. Pranav Gokhale. HSBC Business Cycles Fund: Gautam Bhupal, Mayank Chaturvedi, Dipan S. Parikh.
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.