HDFC Pharma and Healthcare Fund vs ITI Business Cycle Fund
Direct Plan, Growth option · Data as on 30-10-2026
HDFC Pharma and Healthcare Fund is a Thematic fund and ITI Business Cycle Fund is a Thematic fund. HDFC Pharma and Healthcare Fund charges 1.05% a year and ITI Business Cycle Fund 1.63% (Direct plans). Their portfolios overlap 10.4%: they hold 9 of the same securities.
HDFC Pharma and Healthcare Fund
Thematic
- Expense ratio
- 1.05%
- NAV
- ₹21.95
Which is better, HDFC Pharma and Healthcare or ITI Business Cycle? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HDFC Pharma and Healthcare costs less: 1.05% a year against 1.63% (Direct plans).
- HDFC Pharma and Healthcare fell less in its worst fall since 12-03-2026: −9.8% against −12.3%.
- HDFC Pharma and Healthcare is the larger fund: ₹3,501 Cr against ₹117 Cr.
- Their portfolios overlap 10.4%: 9 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 | HDFC Pharma and Healthcare Fund | ITI Business Cycle Fund |
|---|---|---|
| Fund house | HDFC Mutual Fund | ITI Mutual Fund |
| Category | Thematic | Thematic |
| AUM | ₹3,501 Cr (30-09-2026) | ₹117 Cr (30-09-2026) |
| NAV | ₹21.95 (Direct) | ₹9.97 (Direct) |
| Expense ratio (Direct) | 1.05% | 1.63% |
| Expense ratio (Regular) | 2.13% | 3.39% |
| Riskometer | Very High | Very High |
| Benchmark | BSE Healthcare TRI | Nifty 500 TRI |
| Launch date | 04-10-2023 | 09-03-2026 |
| Minimum investment | ₹100 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Nikhil Mathur, Gopal Agrawal, Bhagyesh Kagalkar | Nilay Dalal, Alok Ranjan |
| Exit load | In respect of each purchase/switch-in of units, an Exit load of 1% is payable if units are redeemed /switched-out within 30 days from the date of allotment. No Exit Load is payable if units are redeemed / switched out after 30 days from the date of allotment. | Exit load of 0.50%, if redeemed within 3 months. |
HDFC Pharma and Healthcare vs ITI Business Cycle: 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 |
|---|---|---|---|---|---|---|---|
| HDFC Pharma and Healthcare Fund (Direct) | +0.04% | +0.83% | +16.68% | +23.12% | +30.53% | -- | -- |
| ITI Business Cycle Fund (Direct) | −5.70% | −4.02% | −3.02% | -- | -- | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | -- | -- | -- | -- |
Category average: the average of the 235 Thematic funds, same plan type.
HDFC Pharma and Healthcare vs ITI Business Cycle: Year-wise Returns
| Year | HDFC Pharma and HealthcareHDFC Pharma and Healthcare | ITI Business CycleITI Business Cycle |
|---|---|---|
| 2026to date | +23.99% | -- |
| 2025 | +2.42% | -- |
| 2024 | +52.22% | -- |
HDFC Pharma and Healthcare vs ITI Business Cycle: Rolling Returns
Every holding period of both funds, against BSE Healthcare TRI, the benchmark of HDFC Pharma and Healthcare Fund
HDFC Pharma and Healthcare vs ITI Business Cycle: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HDFC Pharma and Healthcare Fund (Direct) | ITI Business Cycle Fund (Direct) |
|---|---|---|
| Return (CAGR) | +29.32% | −0.10% |
| Standard deviation | 13.98% | 12.69% |
| Sharpe ratio | 1.66 | -0.42 |
| Sortino ratio | 2.38 | -0.55 |
| Maximum drawdown | −14.9% (28-02-2025) | −12.3% (23-10-2026) |
| Beta | 0.95 | 0.68 |
| Alpha | +8.51% | −2.55% |
From daily NAVs, 04-10-2023 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.
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.
HDFC Pharma and Healthcare Fund (Direct)
ITI Business Cycle Fund (Direct)
BSE Healthcare TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HDFC Pharma and Healthcare Fund (Direct) | −9.8% | 21-09-2026 | 23-10-2026 | Not yet | -- | −4.1% |
| ITI Business Cycle Fund (Direct) | −12.3% | 23-09-2026 | 23-10-2026 | Not yet | -- | −9.9% |
| BSE Healthcare TRI | −9.9% | 23-09-2026 | 23-10-2026 | Not yet | -- | −3.8% |
From daily values since 12-03-2026, the first day every fund has.
HDFC Pharma and Healthcare vs ITI Business Cycle: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC Pharma and Healthcare Fund, September 2026; ITI Business Cycle Fund, September 2026
Holdings in common
- Overlap
- 10.4%
- Held by both
- 9
- Only in HDFC Pharma and Healthcare
- 29
- Only in ITI Business Cycle
- 62
| Security | % of HDFC Pharma and Healthcare | % of ITI Business Cycle |
|---|---|---|
| Divis Laboratories Ltd. | 9.39% | 1.54% |
| Apollo Hospitals Enterprise Ltd. | 3.69% | 1.30% |
| Glenmark Pharmaceuticals Ltd. | 2.09% | 1.19% |
| Torrent Pharmaceuticals Ltd. | 3.65% | 1.17% |
| Neuland Laboratories Limited | 3.24% | 1.16% |
| Ipca Laboratories Ltd. | 2.98% | 1.12% |
| Biocon Ltd. | 1.47% | 1.00% |
| Global Health Limited | 2.72% | 0.98% |
| Aster DM Quality Care Limited | 3.56% | 0.92% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 10.4% means 10.4% 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 HDFC Pharma and Healthcare Fund
| Security | % of fund |
|---|---|
| Sun Pharmaceutical Industries Ltd. | 8.28% |
| Alkem Laboratories Ltd. | 4.64% |
| Cipla Ltd. | 4.15% |
| Max Healthcare Institute Limited | 3.61% |
| Lupin Ltd. | 3.55% |
Largest holdings only in ITI Business Cycle Fund
| Security | % of fund |
|---|---|
| ESDS Software Solution Ltd | 6.03% |
| HDFC Bank Limited | 3.83% |
| ICICI Bank Limited | 2.37% |
| Eternal Limited | 2.19% |
| Manipal Payment and Identity Solutions Ltd | 2.02% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC Pharma and Healthcare | ITI Business Cycle |
|---|---|---|
| Equity | 96.8% | 91.3% |
| Debt | 0.0% | 0.0% |
| Cash and others | 3.2% | 8.7% |
Market cap of stocks
| Market cap | HDFC Pharma and Healthcare | ITI Business Cycle |
|---|---|---|
| Large Cap | 29.2% | 30.0% |
| Mid Cap | 30.1% | 23.4% |
| Small Cap | 32.5% | 28.0% |
| Not on AMFI's list | 5.0% | 9.9% |
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 | HDFC Pharma and Healthcare | ITI Business Cycle |
|---|---|---|
| Pharmaceuticals & Biotechnology | 71.3% | 12.6% |
| Healthcare Services | 22.1% | 4.3% |
| Banks | 0.0% | 14.1% |
| IT - Services | 0.0% | 6.0% |
| Industrial Products | 0.0% | 4.5% |
| Chemicals & Petrochemicals | 0.0% | 4.3% |
| Retailing | 1.0% | 3.2% |
| Healthcare Equipment & Supplies | 2.4% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
HDFC Pharma and Healthcare vs ITI Business Cycle: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC Pharma and Healthcare Fund | ITI Business Cycle Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.05% | 1.63% |
| Base expense ratio (Direct) | 0.71% | 0.53% |
| Total expense ratio (Regular) | 2.13% | 3.39% |
| Base expense ratio (Regular) | 1.65% | 2.10% |
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 HDFC Pharma and Healthcare with
HDFC Pharma and Healthcare Fund vs ITI Business Cycle Fund: Frequently Asked Questions
What is the difference between HDFC Pharma and Healthcare Fund and ITI Business Cycle Fund?
HDFC Pharma and Healthcare Fund is a Thematic fund, ITI Business Cycle Fund is a Thematic fund, run by HDFC Mutual Fund and ITI Mutual Fund. Their portfolios overlap 10.4%. HDFC Pharma and Healthcare Fund charges 1.05% a year and ITI Business Cycle Fund 1.63%.
Which has the lower expense ratio, HDFC Pharma and Healthcare Fund or ITI Business Cycle Fund?
HDFC Pharma and Healthcare Fund charges less: 1.05% a year against 1.63%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HDFC Pharma and Healthcare Fund and ITI Business Cycle Fund overlap?
10.4%. They hold 9 of the same securities, the largest shared ones being DIVISLAB, APOLLOHOSP, GLENMARK. From each fund's latest monthly portfolio.
Which is riskier, HDFC Pharma and Healthcare Fund or ITI Business Cycle Fund?
On SEBI's riskometer, HDFC Pharma and Healthcare Fund is rated Very High and ITI Business Cycle Fund Very High. Over their common history, the standard deviation of daily returns was 13.98% and 12.69% a year.
Can I invest in both HDFC Pharma and Healthcare Fund and ITI Business Cycle Fund?
Yes. 10.4% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages HDFC Pharma and Healthcare Fund and ITI Business Cycle Fund?
HDFC Pharma and Healthcare Fund: Nikhil Mathur, Gopal Agrawal, Bhagyesh Kagalkar. ITI Business Cycle Fund: Nilay Dalal, Alok Ranjan.
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.