ITI Balanced Advantage Fund vs ITI Business Cycle Fund
Direct Plan, Growth option · Data as on 30-10-2026
ITI Balanced Advantage Fund is a Balanced Advantage fund and ITI Business Cycle Fund is a Thematic fund. ITI Balanced Advantage Fund charges 1.59% a year and ITI Business Cycle Fund 1.63% (Direct plans). Their portfolios overlap 55.0%: they hold 45 of the same securities.
ITI Balanced Advantage Fund
Balanced Advantage
- Expense ratio
- 1.59%
- NAV
- ₹15.44
Which is better, ITI Balanced Advantage 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.
- ITI Balanced Advantage costs less: 1.59% a year against 1.63% (Direct plans).
- ITI Balanced Advantage fell less in its worst fall since 12-03-2026: −8.8% against −12.3%.
- ITI Balanced Advantage is the larger fund: ₹320 Cr against ₹117 Cr.
- Their portfolios overlap 55.0%: 45 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 | ITI Balanced Advantage Fund | ITI Business Cycle Fund |
|---|---|---|
| Fund house | ITI Mutual Fund | ITI Mutual Fund |
| Category | Balanced Advantage | Thematic |
| AUM | ₹320 Cr (30-09-2026) | ₹117 Cr (30-09-2026) |
| NAV | ₹15.44 (Direct) | ₹9.97 (Direct) |
| Expense ratio (Direct) | 1.59% | 1.63% |
| Expense ratio (Regular) | 3.24% | 3.39% |
| Riskometer | Very High | Very High |
| Benchmark | NIFTY 50 Hybrid Composite Debt 50:50 Index | Nifty 500 TRI |
| Launch date | 31-12-2019 | 09-03-2026 |
| Minimum investment | ₹5,000 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Nilay Dalal, Animesh Singh | Nilay Dalal, Alok Ranjan |
| Exit load | Exit Load for units in excess of 10% of the investment,0.50% will be charged for redemption within 3 months. | Exit load of 0.50%, if redeemed within 3 months. |
ITI Balanced Advantage 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 |
|---|---|---|---|---|---|---|---|
| ITI Balanced Advantage Fund (Direct) | −3.94% | −4.46% | −2.16% | −6.88% | +7.67% | +6.17% | -- |
| ITI Business Cycle Fund (Direct) | −5.70% | −4.02% | −3.02% | -- | -- | -- | -- |
| Balanced Advantage average | −0.55% | −2.88% | +0.08% | −2.08% | +9.14% | +8.35% | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | -- | -- | -- | -- |
Category average: the average of the 38 Balanced Advantage funds and the 235 Thematic funds, same plan type.
ITI Balanced Advantage vs ITI Business Cycle: Year-wise Returns
| Year | Balanced AdvantageITI Balanced Advantage | Business CycleITI Business Cycle |
|---|---|---|
| 2026to date | −7.34% | -- |
| 2025 | +6.26% | -- |
| 2024 | +15.52% | -- |
| 2023 | +19.44% | -- |
| 2022 | −1.18% | -- |
| 2021 | +24.86% | -- |
ITI Balanced Advantage vs ITI Business Cycle: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of ITI Business Cycle Fund
ITI Balanced Advantage vs ITI Business Cycle: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | ITI Balanced Advantage Fund (Direct) | ITI Business Cycle Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.48% | −0.10% |
| Standard deviation | 12.67% | 12.69% |
| Sharpe ratio | 0.11 | -0.42 |
| Sortino ratio | 0.13 | -0.55 |
| Maximum drawdown | −33.6% (23-03-2020) | −12.3% (23-10-2026) |
| Beta | -- | 0.68 |
| Alpha | -- | −2.55% |
From daily NAVs, 03-01-2020 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.
ITI Balanced Advantage Fund (Direct)
ITI Business Cycle Fund (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| ITI Balanced Advantage Fund (Direct) | −8.8% | 23-09-2026 | 23-10-2026 | Not yet | -- | −7.1% |
| ITI Business Cycle Fund (Direct) | −12.3% | 23-09-2026 | 23-10-2026 | Not yet | -- | −9.9% |
| Nifty 500 TRI | −9.9% | 03-08-2026 | 23-10-2026 | Not yet | -- | −7.9% |
From daily values since 12-03-2026, the first day every fund has.
ITI Balanced Advantage vs ITI Business Cycle: Portfolio Overlap
From each fund's latest monthly portfolio: ITI Balanced Advantage Fund, September 2026; ITI Business Cycle Fund, September 2026
Holdings in common
- Overlap
- 55.0%
- Held by both
- 45
- Only in ITI Balanced Advantage
- 21
- Only in ITI Business Cycle
- 26
| Security | % of ITI Balanced Advantage | % of ITI Business Cycle |
|---|---|---|
| HDFC Bank Limited | 4.33% | 3.83% |
| ICICI Bank Limited | 3.15% | 2.37% |
| ESDS Software Solution Ltd | 2.20% | 6.03% |
| Eternal Limited | 2.18% | 2.19% |
| HDFC Life Insurance Company Limited | 2.03% | 2.01% |
| Reliance Industries Limited | 4.26% | 1.93% |
| Laurus Labs Limited | 2.37% | 1.59% |
| Bajaj Auto Limited | 1.59% | 1.70% |
| Manipal Payment and Identity Solutions Ltd | 1.47% | 2.02% |
| Divi's Laboratories Limited | 1.38% | 1.54% |
| Redington Limited | 1.44% | 1.23% |
| Solar Industries India Limited | 1.22% | 1.18% |
| Titan Company Limited | 1.18% | 1.70% |
| RBL Bank Limited | 1.40% | 1.17% |
| Hindalco Industries Limited | 1.16% | 1.24% |
| Kalpataru Projects International Limited | 1.15% | 1.25% |
| LG Electronics India Ltd | 1.15% | 1.40% |
| Dr. Lal Path Labs Limited | 1.33% | 1.13% |
| Kirloskar Oil Engines Limited | 1.13% | 1.29% |
| Grasim Industries Limited | 1.12% | 1.41% |
| AU Small Finance Bank Limited | 1.12% | 1.39% |
| TVS Motor Company Limited | 1.12% | 1.26% |
| Bharat Heavy Electricals Limited | 1.10% | 1.17% |
| IDFC First Bank Limited | 1.10% | 1.21% |
| Ramkrishna Forgings Limited | 1.07% | 1.28% |
| Multi Commodity Exchange of India Limited | 1.07% | 1.34% |
| Piramal Pharma Limited | 1.06% | 1.28% |
| Apollo Hospitals Enterprise Limited | 1.04% | 1.30% |
| Glenmark Pharmaceuticals Limited | 1.04% | 1.19% |
| Gujarat Fluorochemicals Limited | 1.23% | 1.03% |
| BEML Limited | 1.01% | 1.22% |
| Yes Bank Limited | 1.14% | 1.00% |
| Hindustan Copper Limited | 1.00% | 1.11% |
| Indo-MIM Limited | 1.00% | 1.25% |
| Poonawalla Fincorp Limited | 0.99% | 1.22% |
| LT Foods Limited | 0.96% | 1.13% |
| IIFL Finance Limited | 1.26% | 0.95% |
| Infosys Limited | 0.93% | 0.95% |
| Aarti Industries Limited | 1.11% | 0.91% |
| State Bank of India | 1.02% | 0.74% |
| Bajaj Finance Limited | 0.73% | 1.31% |
| Turtlemint Fintech Solutions Limited | 0.60% | 0.78% |
| Ather Energy Limited | 0.52% | 0.57% |
| Bandhan Bank Limited | 0.50% | 0.50% |
| Inox Green Energy Services Limited | 0.30% | 0.83% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 55.0% means 55.0% 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 ITI Balanced Advantage Fund
| Security | % of fund |
|---|---|
| 8.13% Power Grid Corporation of India Limited (25/04/2028) | 3.15% |
| 7.48% National Bank For Agriculture and Rural Development (15/09/2028) | 2.80% |
| Wockhardt Limited | 2.52% |
| 7.53% National Bank For Agriculture and Rural Development (24/03/2028) | 2.49% |
| 7.79% Small Industries Dev Bank of India (19/04/2027) | 2.35% |
Largest holdings only in ITI Business Cycle Fund
| Security | % of fund |
|---|---|
| Ajanta Pharma Limited | 1.32% |
| Aurobindo Pharma Limited | 1.25% |
| Syrma SGS Technology Limited | 1.20% |
| Finolex Cables Limited | 1.19% |
| Navin Fluorine International Limited | 1.19% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | ITI Balanced Advantage | ITI Business Cycle |
|---|---|---|
| Equity | 74.4% | 91.3% |
| Debt | 20.0% | 0.0% |
| Cash and others | 5.6% | 8.7% |
Market cap of stocks
| Market cap | ITI Balanced Advantage | ITI Business Cycle |
|---|---|---|
| Large Cap | 32.4% | 30.0% |
| Mid Cap | 14.4% | 23.4% |
| Small Cap | 22.9% | 28.0% |
| Not on AMFI's list | 4.7% | 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 | ITI Balanced Advantage | ITI Business Cycle |
|---|---|---|
| Banks | 17.2% | 14.1% |
| Pharmaceuticals & Biotechnology | 8.4% | 12.6% |
| IT - Services | 2.2% | 6.0% |
| Finance | 4.7% | 3.5% |
| Industrial Products | 2.2% | 4.5% |
| Healthcare Services | 2.4% | 4.3% |
| Chemicals & Petrochemicals | 3.6% | 4.3% |
| Petroleum Products | 4.3% | 1.9% |
| Automobiles | 3.2% | 3.5% |
The six largest sectors of each fund's stocks, % of the fund.
ITI Balanced Advantage vs ITI Business Cycle: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | ITI Balanced Advantage Fund | ITI Business Cycle Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.59% | 1.63% |
| Base expense ratio (Direct) | 0.64% | 0.53% |
| Total expense ratio (Regular) | 3.24% | 3.39% |
| Base expense ratio (Regular) | 2.10% | 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 ITI Balanced Advantage with
ITI Balanced Advantage Fund vs ITI Business Cycle Fund: Frequently Asked Questions
What is the difference between ITI Balanced Advantage Fund and ITI Business Cycle Fund?
ITI Balanced Advantage Fund is a Balanced Advantage fund, ITI Business Cycle Fund is a Thematic fund, run by ITI Mutual Fund. Their portfolios overlap 55.0%. ITI Balanced Advantage Fund charges 1.59% a year and ITI Business Cycle Fund 1.63%.
Which has the lower expense ratio, ITI Balanced Advantage Fund or ITI Business Cycle Fund?
ITI Balanced Advantage Fund charges less: 1.59% a year against 1.63%. These are the Direct plans' total expense ratios reported to AMFI.
How much do ITI Balanced Advantage Fund and ITI Business Cycle Fund overlap?
55.0%. They hold 45 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, ESDS Software Solution Ltd. From each fund's latest monthly portfolio.
Which is riskier, ITI Balanced Advantage Fund or ITI Business Cycle Fund?
On SEBI's riskometer, ITI Balanced Advantage Fund is rated Very High and ITI Business Cycle Fund Very High. Over their common history, the standard deviation of daily returns was 12.67% and 12.69% a year.
Can I invest in both ITI Balanced Advantage Fund and ITI Business Cycle Fund?
Yes. 55.0% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages ITI Balanced Advantage Fund and ITI Business Cycle Fund?
ITI Balanced Advantage Fund: Nilay Dalal, Animesh Singh. 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.