Axis Business Cycles Fund
NAV
₹18.37
as of 21 Aug 2026
Axis Business Cycles Fund is an open-ended Sectoral/ Thematic scheme from Axis Mutual Fund managing ₹2,126 crore (as of 31 Jul 2026). Its Direct-plan NAV is ₹18.37 as of 21 Aug 2026. The expense ratio is 1.48% a year. Managed by Ashish Naik. This page is factual data only — it carries no rating and no recommendation.
Key facts
- Expense ratio
- 1.48% / yr
- as of 30 Jun 2026
- Fund size
- ₹2,126 crore
- as of 31 Jul 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 20 Aug 2026Benchmark: Nifty 500 TRI
Axis Business Cycles Fund
₹183
+83% on ₹100 over 3.5 yrs
Sectoral/ Thematic average
₹181
+81% on ₹100 over 3.5 yrs
Returns vs category
| Window | Fund | Category avg | Gap |
|---|---|---|---|
| 3 months | 8.54% | 6.78% | +1.76 |
| 6 months | 5.48% | 3.68% | +1.80 |
| 1 year | 6.40% | 6.07% | +0.33 |
| 3 years (CAGR) | 15.57% | 16.01% | -0.44 |
Category average across 119 funds, as of 21 Aug 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%
31 windows over the last 42 months, stepped monthly; 84% 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
- 15.0%
- Median
- 15.3%
- Best
- 18.9%
7 windows over the last 42 months, stepped monthly; 100% ended positive. Worst window began 1 Aug 2023. Windows overlap — this is the range of past start dates, not a probability of anything.
Risk, measured
- Sharpe ratio (3Y)
- 0.54
- Sortino ratio (3Y)
- 0.80
- Standard deviation (3Y)
- 15.77%
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
At a peak
Where the money actually is
Equity
96.5%
Cash
3.5%
Whole-portfolio split, as of 31 Jul 2026.
What it owns
81 positions · top 10 = 29.4%
Market-cap mix
Large 51.0%Mid 22.1%Small 23.4%Other 3.5%
as of 31 Jul 2026
Holdings by sector
Financial Services(6 in top 10)25.4%
- ICICI Bank Ltd3.74%
- Axis Bank Ltd3.46%
- HDFC Bank Ltd3.18%
- Bajaj Finance Ltd2.54%
- IndusInd Bank Ltd2.38%
- Kotak Mahindra Bank Ltd2.32%
Consumer Cyclical(1 in top 10)18.4%
- Mahindra & Mahindra Ltd2.71%
Basic Materials(1 in top 10)16.8%
- Grasim Industries Ltd2.59%
Industrials(1 in top 10)13.5%
- Larsen & Toubro Ltd3.81%
- Technology6.6%
- Healthcare5.2%
Communication Services(1 in top 10)3.6%
- Bharti Airtel Ltd2.66%
- Energy2.8%
Sectors marked ▶ expand to show this fund’s top-10 holdings in that sector. Holdings as of 31 Jul 2026. Portfolio turnover 88.9% vs category 37.3% a year.
The businesses it owns
- P/E (trailing)
- 30.1 vs category 25.8
- P/B
- 3.6 vs category 3.8
- Dividend yield
- 0.8% vs category 1.1%
- Net margin
- 15.8% vs category 15.4%
- Earnings growth
- 14.3%
- Avg market cap
- ₹1.27 lakh crore
Money in, money out
- Net flow, 12 months
- −₹276 cr
- Net flow, 3 months
- −₹48 cr
as of 31 Jul 2026. Flows follow performance more than they predict it.
Quick answers
- What is the NAV of Axis Business Cycles Fund?
- ₹18.37 per unit as of 21 Aug 2026 (Direct plan, growth). NAV is declared daily on working days.
- What is the expense ratio of Axis Business Cycles Fund?
- 1.48% a year for the Direct plan, as of 30 Jun 2026.
- How large is Axis Business Cycles Fund?
- ₹2,126 crore under management as of 31 Jul 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?
- 15.0% a year — the weakest of 7 overlapping 3-year holding periods, beginning 1 Aug 2023. The median was 15.3% 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 3.4 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₹38,299 crore
- ICICI Prudential Business Cycle Fund₹16,123 crore
- Axis India Manufacturing Fund₹5,494 crore
- Axis Consumption Fund₹2,772 crore
- UTI - Infrastructure Fund₹2,158 crore
- ICICI Prudential Rural Opportunities Fund₹2,130 crore
- ICICI Prudential Active Momentum Fund₹2,081 crore
- Tata Infrastructure Fund₹2,072 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.