Sundaram Business Cycle Fund

ThematicDirect and Regular plans, Growth and IDCW options

Data as on 30-10-2026

Sundaram Business Cycle Fund is a Thematic fund run by Sundaram Mutual Fund. On 30-09-2026, it managed ₹1,716 Cr of investors' money. In the year to 30-10-2026, its Direct plan returned −7.3% and its Regular plan returned −8.7%. Its benchmark, Nifty 500 TRI, returned −7.3% over the same year.

NAV (Direct plan): ₹10.64; ▼ 1.46%30-10-2026
NAV (Regular plan): ₹10.26; ▼ 1.47%30-10-2026
Expense ratio: 1.12%Direct2.57%Regular; 1.12%; A year
Riskometer: Very High; Set by the fund house
1 year return: −7.3%Direct−8.7%Regular; −7.3%; Total

Sundaram Business Cycle Fund NAV Today

NAV on 30-10-2026: Direct Plan Growth ₹10.64 (down 1.46% that day); Regular Plan Growth ₹10.26 (down 1.47% that day).

This fund (Direct plan)

₹10.6418

Sundaram Business Cycle Fund Returns vs Nifty 500 TRI

Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.

Trailing returns
Period	1M	3M	6M	1Y	3Y	5Y	10Y
This fund (Direct)	−6.36%	−6.84%	+1.59%	−7.30%	--	--	--
This fund (Regular)	−6.47%	−7.18%	+0.85%	−8.65%	--	--	--
Nifty 500 TRI	−0.75%	−6.05%	−2.83%	−7.34%	+10.22%	+8.81%	+12.51%
Thematic average	−2.09%	−4.52%	+0.86%	−1.22%	--	--	--
Best in Thematic	+11.54%	+11.27%	+22.16%	+75.71%	--	--	--
Worst in Thematic	−16.05%	−11.74%	−13.97%	−22.44%	--	--	--
Rank in Thematic	228/235	168/232	88/232	147/215	--	--	--

Category rows compare the Direct plans of 235 Thematic funds. Rank 1 is the highest return.

Sundaram Business Cycle Fund Year-wise Returns

Return of each calendar year
Year	Direct	Regular	Nifty 500 TRI
2026to date	−4.73%	−5.87%	−7.51%
2025	+2.64%	+1.05%	+7.76%

Sundaram Business Cycle Fund Rolling Returns

The return of every holding period in the fund's history, not only the one that ends today

Rolling returns

Each point is the yearly return of one 1-year holding period, plotted on the day it ended. There are 331 periods, one for each trading day from 26-06-2025 to 30-10-2026.

−10%−5%0%5%10%15%20%

Aug 2024
to
Aug 2025Oct 2024
to
Oct 2025Jan 2025
to
Jan 2026Apr 2025
to
Apr 2026Jul 2025
to
Jul 2026Sept 2025
to
Sept 2026

Sundaram Business Cycle Fund (Direct)Nifty 500 TRI

Every holding period at a glance

Period	Periods	Median	Lowest	Highest	With a loss	Benchmark median	Beat benchmark
1 year	331	3.4%	−9.4%	12.6%	19%	2.2%	54%
2 years	85	5.5%	−1.7%	8.7%	4%	0.7%	100%

Lumpsum: the yearly rate (CAGR) from the NAV on a period's first day to the NAV on its last. SIP: the XIRR of the monthly instalments and their value on the last day. "With a loss" counts the periods that ended below the money put in. "Beat benchmark" counts the periods in which the fund did better than Nifty 500 TRI over the same days. Past returns do not promise future returns.

Sundaram Business Cycle Fund Risk

How much it swings, and the falls an investor had to sit through

Risk and return

Measure	Sundaram Business Cycle Fund (Direct)This fund	Nifty 500 TRI
Return (CAGR)	−7.30%	−7.34%
Standard deviation	17.89%	14.48%
Sharpe ratio	-0.70	-0.87
Sortino ratio	-0.94	-1.16
Maximum drawdown	−19.1% (31-03-2026)	−14.7% (30-03-2026)
Beta	1.12	1.00
Alpha	+1.54%	0.00%

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: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.

Measure	Sundaram Business Cycle Fund (Direct)This fund	Nifty 500 TRI
Return (CAGR)	+2.63%	−0.08%
Standard deviation	15.10%	13.97%
Sharpe ratio	-0.21	-0.42
Sortino ratio	-0.28	-0.57
Maximum drawdown	−19.5% (31-03-2026)	−18.6% (28-02-2025)
Beta	0.98	1.00
Alpha	+2.62%	0.00%

From daily NAVs, 26-06-2024 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: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.

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.

−20%−15%−10%−5%0%

20252026

Sundaram Business Cycle Fund (Direct)Nifty 500 TRI

	Worst fall	High before it	Bottom	Back at the high	Time to climb back	Below its high today
Sundaram Business Cycle Fund (Direct)	−19.5%	19-09-2025	31-03-2026	10-07-2026	3 months	−12.1%
Nifty 500 TRI	−18.6%	26-09-2024	28-02-2025	Not yet	--	−8.8%

From the Direct plan's daily NAV since 26-06-2024, adjusted for unit splits, and Nifty 500 TRI over the same days. "Time to climb back" runs from the bottom to the first day back at the old high.

Sundaram Business Cycle Fund vs Other Thematic Funds

The five Thematic funds with the best three year return, and this fund. Direct plans.

Fund name	Rank	AUM (Cr)	Exp. ratio	1Y return	3Y return	3Y alpha	3Y beta	3Y Sharpe	3Y Sortino
Nippon India Taiwan Equity Fund	1/133	1,147	1.08%	+75.71%	+54.78%	--	--	1.38	2.03	Compare
HDFC Defence Fund	2/133	11,493	0.90%	+13.79%	+34.76%	−0.18%	0.83	1.12	1.54	Compare
HDFC Pharma and Healthcare Fund	3/133	3,501	1.05%	+23.12%	+30.53%	+8.23%	0.96	1.74	2.49	Compare
SBI Healthcare Opportunities Fund	4/133	5,870	1.01%	+17.12%	+24.60%	+3.61%	0.88	1.42	2.03	Compare
Aditya Birla Sun Life International Equity Fund	5/133	352	2.00%	+13.97%	+24.46%	--	--	1.49	2.16	Compare
Sundaram Business Cycle Fund	147/215	1,716	1.12%	−7.30%	--	--	--	--	--

AUM is each fund's size at the end of its last reported month, from its own portfolio file. We calculate the risk ratios from daily NAVs over the last three years. The risk-free return is what NSE's overnight rate index earned over the same years. Alpha and beta compare each fund with its own benchmark's TRI. "--" means we have no figure: for alpha and beta, no daily series for that benchmark.

Sundaram Business Cycle Fund Expense Ratio and Costs

What each plan charges a year, in force from 23-10-2026

Plan	Base expense ratio	Brokerage	Transaction costs	Levies and GST	Total expense ratio	Thematic median	Cost rank (1 = cheapest)
Direct	0.52%	0.16%	0.01%	0.43%	1.12%	1.18%	100/235
Regular	1.81%	0.16%	0.01%	0.59%	2.57%	2.41%	152/235

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, the cost of executing trades, and statutory levies with GST. From AMFI's expense ratio file. Cost rank: where this plan comes when the Thematic funds' plans of the same type are sorted from the lowest total expense ratio to the highest.

Direct vs Regular: what the gap cost

Both plans own the same portfolio, so the difference in what they earned is the Regular plan's extra cost, taken out of its NAV.

Over the last	Regular	Direct	Direct earned more by	₹1 lakh became (Regular)	₹1 lakh became (Direct)
1 year	−8.65%	−7.30%	1.35%	₹91,350	₹92,700

Returns over more than 1 year are a rate a year (CAGR). ₹1 lakh invested once at the start of each period, valued on the last NAV.

Sundaram Business Cycle Fund SIP Calculator

What a one-time or monthly investment in this fund would be worth today, from its own NAV history

Growth of an investment

Every month₹

Step up each year

PeriodFor

₹10,000 on the first trading day of every month, from 26-06-2024 to 30-10-2026: 29 instalments, ₹2,90,000 in all.

Investment	Invested	Value now	Gain	Return a year
Direct planSundaram Business Cycle Fund (Direct)	₹2,90,000	₹2,87,735	−₹2,265	−0.6%
Regular planSundaram Business Cycle Fund (Regular)	₹2,90,000	₹2,82,348	−₹7,652	−2.1%
Nifty 500 TRI	₹2,90,000	₹2,83,145	−₹6,855	−1.9%
Category averageCategory average, 235 Thematic funds	₹2,90,000	₹2,99,291	₹9,291	2.6%

₹0₹1.0 L₹2.0 L₹3.0 L₹4.0 L

20252026

Direct planSundaram Business Cycle Fund (Direct)Regular planSundaram Business Cycle Fund (Regular)Nifty 500 TRICategory averageCategory average, 235 Thematic fundsAmount invested

From each plan's published NAV (Growth option), the benchmark's TRI and the category average, 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.

Sundaram Business Cycle Fund Asset Allocation

Asset allocation as on 30-09-2026

What the fund holds

97.1%Equity

Asset	Fund	Category
Equity	97.1%	94.5%
Cash and others	2.9%	4.0%

Market cap of stocks

Market cap	Fund	Category
Large Cap	17.8%	45.7%
Mid Cap	35.6%	19.6%
Small Cap	34.8%	24.1%
Not on AMFI's list	8.9%	2.3%

Share of the whole fund. Category: the average of the Thematic funds that hold stocks. Groups follow AMFI's latest list, as SEBI defines them: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.

Sundaram Business Cycle Fund Sector Allocation

Sector allocation of the fund's stocks as on 30-09-2026

Largest sectors

Electrical Equipment13.4%
Industrial Products10.6%
Retailing10.5%
Finance8.5%
It - Software8.2%
Transport Services6.6%
Auto Components5.6%
Capital Markets4.9%
Beverages4.2%
Financial Technology (Fintech)4.1%

The ten largest of 18 sectors. The other 8 add up to 20.4%.

Sector changes

Sector	July 2026	August 2026	September 2026	Change
Electrical Equipment	10.3%	11.0%	13.4%	+3.1%
Industrial Products	8.9%	8.4%	10.6%	+1.7%
Retailing	8.3%	11.4%	10.5%	+2.2%
Finance	10.2%	9.0%	8.5%	−1.7%
It - Software	9.7%	8.2%	8.2%	−1.5%

Each sector's share of the fund at the end of each month. The five largest sectors of September 2026. Change: from July 2026 to September 2026, in % of the fund.

Sundaram Business Cycle Fund Portfolio Holdings

As on 30-09-2026 · 36 holdings · from the fund house's monthly portfolio

Holdings	Sector	Weight%	1M change
Radico Khaitan Ltd	Beverages	4.20%	−18.9%
Eternal Ltd (Previously Zomato Ltd)	Retailing	4.00%	−16.3%
MTAR Technologies Ltd	Electrical Equipment	3.80%	−12.3%
TD Power Systems Ltd	Electrical Equipment	3.78%	−12.4%
One 97 Communications Ltd	Financial Technology (Fintech)	3.78%	+34.3%
Interglobe Aviation Ltd	Transport Services	3.61%	0.0%
Shriram Finance Ltd	Finance	3.48%	0.0%
FSN E–Commerce Ventures Ltd(NYKAA)	Retailing	3.39%	0.0%
Kirloskar Oil Engines Ltd	Industrial Products	3.34%	0.0%
Dhoot Transmission Ltd	Auto Components	3.32%	0.0%
Kalyan Jewellers India Ltd	Consumer Durables	3.18%	0.0%
Lenskart Solutions Limited	Retailing	3.14%	0.0%
Oracle Financial Services Software Ltd	It - Software	3.11%	0.0%
Thermax Ltd	Electrical Equipment	3.04%	New
Delhivery Ltd	Transport Services	2.99%	0.0%
Ujjivan Small Finance Bank Ltd	Banks	2.95%	0.0%
Five-Star Business Finance Ltd	Finance	2.82%	0.0%
Polycab India Ltd	Industrial Products	2.81%	0.0%
Coforge Ltd	It - Software	2.81%	+45.5%
GE Vernova T and D India Ltd	Electrical Equipment	2.81%	0.0%
Indegene Limited	Healthcare Services	2.76%	0.0%
Nippon Life India Asset Management Ltd	Capital Markets	2.72%	0.0%
Finolex Cables Ltd	Industrial Products	2.60%	New
Affle (India) Ltd	It - Services	2.60%	0.0%
S.J.S. Enterprises Ltd	Auto Components	2.28%	0.0%
Rate Gain Travel Technologies Ltd	It - Software	2.27%	0.0%
Sapphire Foods India Ltd	Leisure Services	2.24%	0.0%
Aavas Financiers Ltd	Finance	2.22%	0.0%
Vedanta Aluminium Metal Ltd	Non - Ferrous Metals	2.18%	0.0%
360 ONE WAM Ltd (Prev IIFL Wealth Management Ltd)	Capital Markets	2.14%	0.0%
Tips Music Ltd	Entertainment	1.90%	0.0%
Kirlosakar Pneumatic Company Ltd	Industrial Products	1.83%	−11.5%
Mahindra & Mahindra Ltd	Automobiles	1.63%	0.0%
IndusInd Bank Ltd	Banks	0.98%	0.0%
PB Fintech Ltd	Financial Technology (Fintech)	0.34%	−86.1%
TVS Motor Company Ltd	Automobiles	0.03%	0.0%

Sundaram Business Cycle Fund Stocks Bought and Sold

All changes are between August 2026 and September 2026

Stocks bought and sold in September 2026

Radico Khaitan Ltd	Reduced	−18.9%	4.20%
Eternal Ltd (Previously Zomato Ltd)	Reduced	−16.3%	4.00%
PB Fintech Ltd	Reduced	−86.1%	0.34%
TD Power Systems Ltd	Reduced	−12.4%	3.78%
MTAR Technologies Ltd	Reduced	−12.3%	3.80%
One 97 Communications Ltd	Added	+34.3%	3.78%
Thermax Ltd	New	New	3.04%
Coforge Ltd	Added	+45.5%	2.81%
Finolex Cables Ltd	New	New	2.60%
Kirlosakar Pneumatic Company Ltd	Reduced	−11.5%	1.83%

A change is counted by the number of shares the fund holds, not by price. A stock can become a smaller part of the fund in a month when the fund bought more of it, if its price fell. Debt papers are left out.

What Sundaram Business Cycle Fund bought and sold

Sundaram Business Cycle Fund Portfolio Overlap

Funds with the most similar portfolios, across every fund house and category

Fund	Overlap	Holdings in common
Sundaram Large and Midcap FundLarge & Mid Cap · Sundaram	63.2%	25	Compare
Sundaram Multi Cap FundMulti Cap · Sundaram	30.3%	19	Compare
Motilal Oswal Multi Cap FundMulti Cap · Motilal Oswal	27.1%	10	Compare
Sundaram Services FundThematic · Sundaram	25.8%	13	Compare
HSBC Midcap FundMid Cap · HSBC	25.3%	15	Compare
Sundaram Small Cap FundSmall Cap · Sundaram	24.6%	14	Compare
HSBC Large & Mid Cap FundLarge & Mid Cap · HSBC	23.8%	17	Compare
Union Innovation & Opportunities FundThematic · Union	23.6%	12	Compare

Overlap: for each holding both funds own, the smaller of its two weights, added up. 40% means 40% of each fund's money sits in positions the other also holds. From each fund's latest monthly portfolio, matched by ISIN. Cash and hedged positions are left out. Funds that overlap under 10% are not listed. A high overlap does not make two funds the same: their costs, lock-in and category can differ.

Sundaram Business Cycle Fund Overview

Fund facts from the scheme summary document, as on 16-10-2026

Expense ratio (Direct): 1.12%
Expense ratio (Regular): 2.57%
Category: Thematic
Risk: Very High
Benchmark: Nifty 500 TRI
Launch date: 25-06-2024
Minimum investment: ₹100
Minimum additional investment: ₹100
AUM: ₹1,716.35 Cr (30-09-2026)
Lock in: None
Scheme code (Direct): 152677
ISIN (Direct): INF903JA1LQ6
Scheme code (Regular): 152678
ISIN (Regular): INF903JA1LN3
NAV history: From 26-06-2024, 2.3 years

Exit load: 1% - For redemption or withdrawal by way of SWP within 365 days from the date of allotment; NIL - For redemption or withdrawal by way of SWP after 365 days from the date of allotment; Further, exit load will be waived on Intra-scheme and Inter scheme Switch-outs/STP; Generally, the exit load will be calculated on First in First out (FIFO) basis.

Tax on Sundaram Business Cycle Fund returns

Sundaram Business Cycle Fund is taxed as an equity fund: 65% or more of it is in Indian stocks.
Units sold within 1 year: the gain is taxed at 20%.
Units held longer: gains above ₹1.25 lakh in a financial year, across all your equity funds and shares, are taxed at 12.5%.
IDCW (dividend) payouts are added to your income and taxed at your slab rate.
A stamp duty of 0.005% is deducted when you invest.

Rules in force from 23-07-2024 (Finance Act 2024). Tax depends on your own income; this is general information, not tax advice.

All plans and options

Plan	Option	NAV	As on
direct	Growth	₹10.6418	30-10-2026
direct	Income Distribution Cum Capital Withdrawal IDCW	₹10.6418	30-10-2026
direct	Income Distribution Cum Capital Withdrawal IDCW	₹10.6418	30-10-2026
regular	Growth	₹10.2628	30-10-2026
regular	Income Distribution Cum Capital Withdrawal IDCW	₹10.2628	30-10-2026
regular	Income Distribution Cum Capital Withdrawal IDCW	₹10.2628	30-10-2026

About Sundaram Business Cycle Fund

Sundaram Business Cycle Fund is a mutual fund from Sundaram Mutual Fund. Its category is Thematic. It was launched on 25-06-2024. Its benchmark is Nifty 500 TRI. At the end of September 2026 it held 36 securities.

Fund Manager

Madanagopal Ramu
Fund manager of Sundaram Business Cycle Fund
Sandeep Agarwal
Fund manager of Sundaram Business Cycle Fund
Shalav Saket
Fund manager of Sundaram Business Cycle Fund

See all funds of Sundaram Mutual Fund

AUM change

September 2026: ₹1,716.35 Cr; −1.76% from August 2026
August 2026: ₹1,747.12 Cr; +5.08% from July 2026
July 2026: ₹1,662.67 Cr; +0.75% from June 2026

AUM moves with money invested or taken out, and with the value of what the fund holds.

Compare Sundaram Business Cycle Fund with Other Funds

Returns, risk, costs and the stocks they share, side by side

Sundaram Business Cycle vs Nippon India Taiwan EquityThematic
Sundaram Business Cycle vs HDFC DefenceThematic
Sundaram Business Cycle vs HDFC Pharma and HealthcareThematic
Sundaram Business Cycle vs SBI Healthcare OpportunitiesThematic
Sundaram Business Cycle vs Aditya Birla Sun Life International EquityThematic
Sundaram Business Cycle vs Sundaram Large and Midcap63.2% overlap
Sundaram Business Cycle vs Sundaram Multi Cap30.3% overlap
Sundaram Business Cycle vs Motilal Oswal Multi Cap27.1% overlap

Compare with any other fund

Frequently Asked Questions for Sundaram Business Cycle Fund

What is the current NAV of Sundaram Business Cycle Fund?

The Direct plan NAV is ₹10.6418. The Regular plan NAV is ₹10.2628, as on 30-10-2026.

What are the returns of Sundaram Business Cycle Fund?

The Direct plan returned −7.30% in 1 year. The Regular plan returned −8.65% in 1 year. These figures are as on 30-10-2026.

What is the expense ratio of Sundaram Business Cycle Fund?

The Direct plan charges 1.12% a year. The Regular plan charges 2.57% a year. This is the figure the fund house reported to AMFI, in force from 23-10-2026.

What is the AUM of Sundaram Business Cycle Fund?

Sundaram Business Cycle Fund managed ₹1,716.35 Cr on 30-09-2026, as its fund house reported in its monthly portfolio.

What are the top holdings of Sundaram Business Cycle Fund?

At the end of September 2026 the largest holdings were RADICO (4.20%), ETERNAL (4.00%), MTARTECH (3.80%), TDPOWERSYS (3.78%), PAYTM (3.78%). The fund held 36 securities in all.

What did Sundaram Business Cycle Fund buy and sell in September 2026?

It bought 2 new stocks: Thermax Ltd, Finolex Cables Ltd. It added shares in 2. It reduced 6.

How do I invest in Sundaram Business Cycle Fund?

Through Sundaram Mutual Fund's website or app, a mutual fund distributor, or an investment platform. Choose the Direct plan to pay no distributor commission, or the Regular plan to invest through a distributor. The first investment is at least ₹100. You can invest once or through a monthly SIP.

Who is the fund manager of Sundaram Business Cycle Fund?

Madanagopal Ramu, Sandeep Agarwal, Shalav Saket.

Sources: NAV and expense ratio from AMFI. Holdings from the fund house's monthly portfolio statement. Fund facts from its scheme summary document, as on 16-10-2026.

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.