quant Business Cycle Fund vs quant Overnight Fund
Direct Plan, Growth option · Data as on 30-10-2026
quant Business Cycle Fund is a Thematic fund and quant Overnight Fund is an Overnight fund. In the 3 years to 30-10-2026, quant Business Cycle Fund (Direct) returned 10.5% a year and quant Overnight Fund (Direct) returned 6.0% a year. quant Business Cycle Fund charges 1.45% a year and quant Overnight Fund 0.19% (Direct plans). Their portfolios overlap 23.1%: they hold 1 of the same security.
quant Business Cycle Fund
Thematic
- 3 year return
- 10.5%
- Expense ratio
- 1.45%
- NAV
- ₹16.33
Which is better, quant Business Cycle or quant Overnight? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- quant Business Cycle returned more over 3 years: 10.5% a year against 6.0%.
- quant Overnight returned more over 1 year: 5.0% against 0.1%.
- quant Overnight costs less: 0.19% a year against 1.45% (Direct plans).
- quant Overnight swung less over 3 years: a standard deviation of 0.1% a year against 17.8%.
- quant Business Cycle is the larger fund: ₹930 Cr against ₹54 Cr.
- Their portfolios overlap 23.1%: 1 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 | quant Business Cycle Fund | quant Overnight Fund |
|---|---|---|
| Fund house | quant Mutual Fund | quant Mutual Fund |
| Category | Thematic | Overnight |
| AUM | ₹930 Cr (30-09-2026) | ₹54 Cr (30-09-2026) |
| NAV | ₹16.33 (Direct) | ₹12.67 (Direct) |
| Expense ratio (Direct) | 1.45% | 0.19% |
| Expense ratio (Regular) | 3.00% | 0.26% |
| Riskometer | Very High | Low |
| Benchmark | Nifty 500 TRI | CRISIL Liquid Overnight Index |
| Launch date | 05-06-2025 | 05-12-2022 |
| Minimum investment | ₹5,000 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Sandeep Tandon, Ankit Pande, Sanjeev Sharma, Varun Pattani, Ayusha Kumbhat, Yug Tibrewal, Sameer Kate | Sanjeev Sharma, Haroonvardhan Sirohi |
| Exit load | NIL | NIL |
quant Business Cycle vs quant Overnight: 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 |
|---|---|---|---|---|---|---|---|
| quant Business Cycle Fund (Direct) | −2.16% | −5.45% | −0.24% | +0.11% | +10.47% | -- | -- |
| quant Overnight Fund (Direct) | +0.44% | +1.24% | +2.50% | +5.03% | +6.03% | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | +13.76% | -- | -- |
| Overnight average | +0.45% | +1.28% | +2.59% | +5.22% | +5.99% | -- | -- |
Category average: the average of the 235 Thematic funds and the 40 Overnight funds, same plan type.
quant Business Cycle vs quant Overnight: Year-wise Returns
| Year | Business Cyclequant Business Cycle | Overnightquant Overnight |
|---|---|---|
| 2026to date | +0.38% | +4.14% |
| 2025 | −5.01% | +5.67% |
| 2024 | +20.95% | +6.96% |
| 2023 | -- | +7.17% |
quant Business Cycle vs quant Overnight: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of quant Business Cycle Fund
Rolling returns
Every 3-year holding period, 104 of them, one for each trading day from 01-06-2026 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.
quant Business Cycle Fund (Direct)
quant Overnight Fund (Direct)
Nifty 500 TRI
to
Jun 2026Jul 2023
to
Jul 2026Aug 2023
to
Aug 2026Aug 2023
to
Aug 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| quant Business Cycle | 0.0 | 0.0 | 2.9 | 43.3 | 48.1 | 5.8 | 0.0 | 15.2% | 15.2% | 9.6% | 20.3% | 100% |
| quant Overnight | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 6.2% | 6.2% | 6.0% | 6.4% | 0% |
| Nifty 500 TRI | 0.0 | 0.0 | 18.3 | 81.7 | 0.0 | 0.0 | 0.0 | 11.9% | 12.5% | 8.8% | 14.1% | -- |
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 Nifty 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 31-05-2023. Past returns do not promise future returns.
quant Business Cycle vs quant Overnight: 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 31-05-2023 to 30-10-2026: 42 instalments, ₹4,20,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| quant Business Cyclequant Business Cycle Fund (Direct) | ₹4,20,000 | ₹4,53,105 | ₹33,105 | 4.3% |
| quant Overnightquant Overnight Fund (Direct) | ₹4,20,000 | ₹4,64,565 | ₹44,565 | 5.7% |
quant Business Cyclequant Business Cycle Fund (Direct)
quant Overnightquant Overnight 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.
quant Business Cycle vs quant Overnight: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | quant Business Cycle Fund (Direct) | quant Overnight Fund (Direct) |
|---|---|---|
| Return (CAGR) | +0.11% | +5.03% |
| Standard deviation | 17.03% | 0.11% |
| Sharpe ratio | -0.30 | -1.96 |
| Sortino ratio | -0.41 | -3.80 |
| Maximum drawdown | −16.7% (30-03-2026) | 0.0% |
| Beta | 1.05 | -- |
| Alpha | +8.03% | -- |
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 | quant Business Cycle Fund (Direct) | quant Overnight Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.47% | +6.03% |
| Standard deviation | 17.79% | 0.15% |
| Sharpe ratio | 0.25 | 0.07 |
| Sortino ratio | 0.34 | 0.16 |
| Maximum drawdown | −29.3% (30-03-2026) | 0.0% |
| Beta | 1.12 | -- |
| Alpha | −0.24% | -- |
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 | quant Business Cycle Fund (Direct) | quant Overnight Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.40% | +6.25% |
| Standard deviation | 17.27% | 0.15% |
| Sharpe ratio | 0.54 | 0.48 |
| Sortino ratio | 0.73 | 1.09 |
| Maximum drawdown | −29.3% (30-03-2026) | 0.0% |
| Beta | 1.11 | -- |
| Alpha | +3.65% | -- |
From daily NAVs, 31-05-2023 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.
quant Business Cycle Fund (Direct)
quant Overnight Fund (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| quant Business Cycle Fund (Direct) | −29.3% | 27-09-2024 | 30-03-2026 | Not yet | -- | −17.6% |
| quant Overnight Fund (Direct) | 0.0% | -- | -- | -- | -- | 0.0% |
| Nifty 500 TRI | −18.6% | 26-09-2024 | 28-02-2025 | Not yet | -- | −8.8% |
From daily values since 31-05-2023, 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.
quant Business Cycle Fund (Direct)
quant Overnight Fund (Direct)
Nifty 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.
quant Business Cycle Fund (Direct)
quant Overnight Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| quant Business Cycle Fund (Direct) | 120% | 103% | 9.50% |
| quant Overnight Fund (Direct) | 16% | -14% | 14.97% |
From month-end values since 31-05-2023. 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.
quant Business Cycle vs quant Overnight: Portfolio Overlap
From each fund's latest monthly portfolio: quant Business Cycle Fund, September 2026; quant Overnight Fund, September 2026
Holdings in common
- Overlap
- 23.1%
- Held by both
- 1
- Only in quant Business Cycle
- 21
- Only in quant Overnight
- 0
| Security | % of quant Business Cycle | % of quant Overnight |
|---|---|---|
| TREPS 01-Oct-2026 DEPO 10 | 23.09% | 98.54% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 23.1% means 23.1% 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 quant Business Cycle Fund
| Security | % of fund |
|---|---|
| Aurobindo Pharma Limited | 10.38% |
| Piramal Finance Ltd | 9.23% |
| Adani Green Energy Limited | 9.07% |
| Indus Towers Limited | 8.70% |
| LG Electronics India Limited | 5.65% |
Largest holdings only in quant Overnight Fund
Every holding of this fund is also held by the other.
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | quant Business Cycle | quant Overnight |
|---|---|---|
| Equity | 70.3% | 0.0% |
| Debt | 29.9% | 98.5% |
| Cash and others | -0.2% | 1.5% |
Market cap of stocks
| Market cap | quant Business Cycle | quant Overnight |
|---|---|---|
| Large Cap | 31.1% | -- |
| Mid Cap | 34.1% | -- |
| Small Cap | 5.0% | -- |
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 | quant Business Cycle | quant Overnight |
|---|---|---|
| N.A. | 70.3% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
quant Business Cycle vs quant Overnight: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | quant Business Cycle Fund | quant Overnight Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.45% | 0.19% |
| Base expense ratio (Direct) | 0.66% | 0.16% |
| Total expense ratio (Regular) | 3.00% | 0.26% |
| Base expense ratio (Regular) | 1.98% | 0.22% |
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 quant Business Cycle with
quant Business Cycle Fund vs quant Overnight Fund: Frequently Asked Questions
What is the difference between quant Business Cycle Fund and quant Overnight Fund?
quant Business Cycle Fund is a Thematic fund, quant Overnight Fund is an Overnight fund, run by quant Mutual Fund. Their portfolios overlap 23.1%. quant Business Cycle Fund charges 1.45% a year and quant Overnight Fund 0.19%.
Which has given higher returns, quant Business Cycle Fund or quant Overnight Fund?
Over 1 year: quant Business Cycle Fund +0.11%, quant Overnight Fund +5.03%. Over 3 years: quant Business Cycle Fund +10.47% a year, quant Overnight Fund +6.03% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, quant Business Cycle Fund or quant Overnight Fund?
quant Overnight Fund charges less: 0.19% a year against 1.45%. These are the Direct plans' total expense ratios reported to AMFI.
How much do quant Business Cycle Fund and quant Overnight Fund overlap?
23.1%. They hold 1 of the same securities, the largest shared ones being TREPS 01-Oct-2026 DEPO 10. From each fund's latest monthly portfolio.
Which is riskier, quant Business Cycle Fund or quant Overnight Fund?
On SEBI's riskometer, quant Business Cycle Fund is rated Very High and quant Overnight Fund Low. Over 3 years, the standard deviation of daily returns was 17.79% and 0.15% a year.
Which is better for SIP, quant Business Cycle Fund or quant Overnight Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹3,76,664 in quant Business Cycle Fund (XIRR 1.1% a year) and ₹4,03,538 in quant Overnight Fund (XIRR 5.6% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both quant Business Cycle Fund and quant Overnight Fund?
Yes. 23.1% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages quant Business Cycle Fund and quant Overnight Fund?
quant Business Cycle Fund: Sandeep Tandon, Ankit Pande, Sanjeev Sharma, Varun Pattani, Ayusha Kumbhat, Yug Tibrewal, Sameer Kate. quant Overnight Fund: Sanjeev Sharma, Haroonvardhan Sirohi.
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.