Axis Business Cycles Fund
NAV
₹17.49
as of 6 Oct 2026
Axis Business Cycles Fund is an open-ended Sectoral/ Thematic scheme from Axis Mutual Fund managing ₹2,168 crore (as of 31 Aug 2026). Its Direct-plan NAV is ₹17.49 as of 6 Oct 2026. The expense ratio is 1.62% a year. Managed by Ashish Naik. This page is factual data only – it carries no rating and no recommendation.
Key facts
- Expense ratio
- 1.62% / yr
- as of 31 Aug 2026
- Fund size
- ₹2,168 crore
- as of 31 Aug 2026
- Exit load
- 1%
- SIP available
- Yes
- Launched
- 22 Feb 2023
- ISIN
- INF846K016N4
₹100 invested, fund vs category
The category line is the average of the funds in this category, built from nyvo’s own NAV data.
Rebased to 100data to 5 Oct 2026Benchmark: Nifty 500 TRI
Axis Business Cycles Fund
₹173
+73% on ₹100 over 3.6 yrs
Sectoral/ Thematic average
₹171
+71% on ₹100 over 3.6 yrs
Returns vs category
| Window | Fund | Category avg | Gap |
|---|---|---|---|
| 3 months | -2.10% | -4.47% | +2.37 |
| 6 months | 5.44% | 7.56% | -2.12 |
| 1 year | 0.52% | -0.10% | +0.62 |
| 3 years (CAGR) | 12.40% | 12.32% | +0.08 |
Category average across 119 funds, as of 5 Oct 2026. Short windows are noise; the 3 and 5-year rows are the record. Past returns do not predict future returns.
A single return number depends on its start date. These are ALL the overlapping holding periods, so the worst case is visible – read that number first.
1-year holding periods
- Worst
- -3.4%
- Median
- 7.1%
- Best
- 44.8%
33 windows over the last 44 months, stepped monthly; 85% ended positive. Worst window began 1 Oct 2024. Windows overlap – this is the range of past start dates, not a probability of anything.
3-year holding periods (per year)
- Worst
- 12.2%
- Median
- 15.1%
- Best
- 18.9%
9 windows over the last 44 months, stepped monthly; 100% ended positive. Worst window began 3 Oct 2023. Windows overlap – this is the range of past start dates, not a probability of anything.
Risk, measured
- Sharpe ratio (3Y)
- 0.58
- Sortino ratio (3Y)
- 0.86
- Standard deviation (3Y)
- 15.80%
Distance below its own peak
Every dip below 0 is the fund trading under a previous high – how deep and for how long is what a drawdown feels like.
Deepest fall
-18.4%
Right now
-6.3% below peak
Where the money actually is
Equity
95.8%
Cash
4.2%
Whole-portfolio split, as of 31 Aug 2026.
What it owns
83 positions · top 10 = 28.8%
Market-cap mix
Large 48.5%Mid 22.9%Small 24.3%Other 4.4%
as of 31 Aug 2026
Holdings by sector
Financial Services(5 in top 10)23.6%
- ICICI Bank Ltd3.72%
- Axis Bank Ltd3.59%
- HDFC Bank Ltd2.95%
- Kotak Mahindra Bank Ltd2.48%
- IndusInd Bank Ltd2.34%
- Consumer Cyclical18.4%
Basic Materials(2 in top 10)17.1%
- Grasim Industries Ltd2.76%
- Aether Industries Ltd2.42%
Industrials(1 in top 10)15.4%
- Larsen & Toubro Ltd3.84%
- Technology7.2%
- Healthcare4.2%
Communication Services(1 in top 10)3.4%
- Bharti Airtel Ltd2.39%
- Energy2.5%
Sectors marked ▶ expand to show this fund’s top-10 holdings in that sector. Holdings as of 31 Aug 2026. Portfolio turnover 99.5% vs category 37.4% a year.
Other top holdings
- Clearing Corporation Of India Ltd2.44%
The businesses it owns
- P/E (trailing)
- 28.9 vs category 25.9
- P/B
- 3.5 vs category 3.9
- Dividend yield
- 0.8% vs category 1.1%
- Net margin
- 15.4% vs category 15.4%
- Earnings growth
- 14.6%
- Avg market cap
- ₹1.23 lakh crore
Money in, money out
- Net flow, 12 months
- −₹279 cr
- Net flow, 3 months
- −₹62 cr
as of 31 Aug 2026. Flows follow performance more than they predict it.
Quick answers
- What is the NAV of Axis Business Cycles Fund?
- ₹17.49 per unit as of 6 Oct 2026 (Direct plan, growth). NAV is declared daily on working days.
- What is the expense ratio of Axis Business Cycles Fund?
- 1.62% a year for the Direct plan, as of 31 Aug 2026.
- How large is Axis Business Cycles Fund?
- ₹2,168 crore under management as of 31 Aug 2026, in the Sectoral/ Thematic category.
- How risky is Axis Business Cycles Fund?
- Its SEBI Riskometer reading is "Very High Risk". One sector, one story. The most-launched shelf on the map, by far.
- What is the worst 3-year return of Axis Business Cycles Fund?
- 12.2% a year – the weakest of 9 overlapping 3-year holding periods, beginning 3 Oct 2023. The median was 15.1% and 100% of those windows ended positive. Windows overlap, so this is the range of past start dates, not a probability.
- Who manages Axis Business Cycles Fund?
- Ashish Naik, managing this fund for 3.5 years.
Where this fund sits
Its shelf, all funds
St · Sectoral / thematic →
One sector, one story. The most-launched shelf on the map, by far.
The money map
How big this shelf is in India →
The whole industry sized by real money, from AMFI’s monthly data.
Side by side
Compare this fund →
Put it next to any other fund – growth, returns, risk and cost in one table.
One bet or two?
Check its overlap →
See whether it owns the same stocks as your other funds.
Other Sectoral/ Thematic funds
- ICICI Prudential India Opportunities Fund₹38,338 crore
- ICICI Prudential Business Cycle Fund₹15,873 crore
- Axis India Manufacturing Fund₹5,796 crore
- Axis Consumption Fund₹2,616 crore
- Mirae Asset Banking and Financial Services Fund₹2,306 crore
- DSP Banking & Financial Services Fund₹2,184 crore
- ICICI Prudential Active Momentum Fund₹2,163 crore
- ICICI Prudential Quality Fund₹2,144 crore
Data: nyvo research systems; each block above states its own as-of date, and blocks with no data for this fund are omitted rather than estimated. NAV updates daily on working days. The benchmark (Nifty 500 TRI) is named for reference only; its values are licensed and never shown. This page is factual information about one scheme. It is not investment advice, not a recommendation, and it carries no rating of any kind. Past performance does not predict future returns. Mutual fund investments are subject to market risks; read all scheme related documents carefully.