Bank of India Business Cycle Fund vs LIC MF Banking and Financial Services Fund
Bank of India Business Cycle Fund and LIC MF Banking and Financial Services Fund are both Banking & Financial Services Funds. As of 5 Nov 2026 (Direct plan, Growth option): 3-year CAGR — vs +7.71%, 5-year CAGR — vs +8.66%, volatility 19.52% vs 17.38%, maximum drawdown −25.21% vs −44.76%. Their portfolios overlap by 10.6% (4 stocks held by both).
Showing the Direct plan, Growth option. Portfolio, sector and market-cap figures are the same for every plan and option of a fund.
Key facts
| Bank of India Business Cycle | LIC MF Banking and Financial Services | |
|---|---|---|
| Fund house | Bank of India Mutual Fund | LIC Mutual Fund |
| Compared as | Banking & Financial Services Funds | Banking & Financial Services Funds |
| NAV | ₹9.8200 | ₹23.8709 |
| NAV date | 5 Nov 2026 | 5 Nov 2026 |
| Launched (first NAV) | 2 Sep 2024 | 30 Mar 2015 |
| Track record | 2.2 yrs | 11.6 yrs |
| Fund size (AUM) | ₹437 Cr | ₹256 Cr |
| Securities held | 51 | 24 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| Bank of India Business Cycle | LIC MF Banking and Financial Services | |
|---|---|---|
| 1 month | +0.10% | +2.76% |
| 3 months | −0.71% | −4.89% |
| 6 months | +2.83% | −2.19% |
| 1 year | +2.61% | −3.46% |
| 3 years (CAGR) | — | +7.71% |
| 5 years (CAGR) | — | +8.66% |
| 7 years (CAGR) | — | +10.16% |
| 10 years (CAGR) | — | +9.06% |
| Since launch (CAGR) | −0.92% | +7.78% |
| SIP return (XIRR, 5 years) ⓘ | — | +8.29% |
Up to one year: absolute return. Beyond one year: CAGR. Computed from each fund's own NAV history (AMFI), measured to the latest NAV.
Calendar-year returns
| Bank of India Business Cycle | LIC MF Banking and Financial Services | |
|---|---|---|
| 2026 (year to date) | +7.56% | −5.69% |
| 2025 | −7.40% | +18.03% |
| 2024 | — | +2.17% |
| 2023 | — | +22.00% |
| 2022 | — | +20.97% |
| 2021 | — | +11.28% |
Risk
| Bank of India Business Cycle | LIC MF Banking and Financial Services | |
|---|---|---|
| Volatility (annualised) ⓘ | 19.52% | 17.38% |
| Downside volatility ⓘ | 14.49% | 12.10% |
| Sharpe ratio ⓘ | -0.38 | 0.07 |
| Sortino ratio ⓘ | -0.51 | 0.10 |
| Maximum drawdown ⓘ | −25.21% | −44.76% |
| Recovery from that fall | — | 10 months |
| Current fall from peak | −6.21% | −7.87% |
| Rolling 1-year return: worst | −13.31% | −35.74% |
| Rolling 1-year return: median | +1.69% | +10.76% |
| Rolling 1-year return: best | +12.64% | +80.93% |
| Share of 1-year periods with a loss | 43.30% | 26.46% |
Against each fund's benchmark
| Bank of India Business Cycle | LIC MF Banking and Financial Services | |
|---|---|---|
| Beta ⓘ | 1.05 | 0.95 |
| Alpha (Jensen's, annualised) ⓘ | +1.49% | −4.00% |
| R² ⓘ | 76.63 | 77.72 |
| Upside capture | 124.48% | 88.86% |
| Downside capture | 116.77% | 108.72% |
| Tracking error | 9.52% | 8.01% |
| Information ratio | 0.05 | -0.59 |
| Treynor ratio | -9.54 | -1.11 |
Portfolio
Asset mix
| Bank of India Business Cycle | LIC MF Banking and Financial Services | |
|---|---|---|
| Equity | 94.71% | 95.70% |
| Cash & equivalents | 5.23% | 4.30% |
| Debt | 0.06% | 0.00% |
Market-cap split (share of fund assets)
| Bank of India Business Cycle | LIC MF Banking and Financial Services | |
|---|---|---|
| Large Cap | 43.94% | 38.94% |
| Mid Cap | 15.89% | 34.41% |
| Small Cap | 28.33% | 22.35% |
| Unclassified | 6.55% | 0.00% |
Concentration
| Bank of India Business Cycle | LIC MF Banking and Financial Services | |
|---|---|---|
| Top 10 holdings | 36.43% | 58.06% |
| Effective number of stocks ⓘ | 41.9 | 19.3 |
| Securities held | 51 | 24 |
Portfolio overlap: 10.6%
4 companies are held by both funds; by weight, 10.6% of the two portfolios is the same. That is a low overlap: the two portfolios are largely different.
| Held by both | Bank of India Business Cycle | LIC MF Banking and Financial Services |
|---|---|---|
| ICICI Bank Limited | 5.41% | 13.61% |
| HDFC Bank Limited | 2.27% | 5.08% |
| Nippon Life India Asset Management Limited | 1.66% | 3.28% |
| PB Fintech Limited | 1.24% | 2.99% |
Top 10 holdings
Bank of India Business Cycle
- ICICI Bank Limited5.41%
- State Bank of India5.07%
- NTPC Limited4.16%
- Bharti Airtel Limited3.78%
- Apollo Hospitals Enterprise Limited3.36%
- Quality Power Electrical Eqp Ltd3.19%
- LG Electronics India Ltd3.03%
- Glenmark Pharmaceuticals Limited2.94%
- Power Grid Corporation of India Limited2.82%
- Sky Gold And Diamonds Limited2.67%
LIC MF Banking and Financial Services
- ICICI Bank Limited13.61%
- AU Small Finance Bank Limited7.33%
- Axis Bank Limited5.32%
- One 97 Communications Limited5.24%
- HDFC Bank Limited5.08%
- Bajaj Finance Limited4.86%
- IndusInd Bank Limited4.62%
- City Union Bank Limited4.60%
- Shriram Finance Limited4.00%
- Karur Vysya Bank Limited3.40%
Sector exposure
| Bank of India Business Cycle | LIC MF Banking and Financial Services | |
|---|---|---|
| Banks | 12.75% | 49.35% |
| Finance | 0.00% | 21.26% |
| Capital Markets | 4.86% | 14.44% |
| Consumer Durables | 11.81% | 0.00% |
| Power | 8.84% | 0.00% |
| Financial Technology (Fintech) | 1.24% | 8.23% |
| Electrical Equipment | 7.96% | 0.00% |
| Pharmaceuticals & Biotechnology | 5.63% | 0.00% |
| Food Products | 4.00% | 0.00% |
| Textiles & Apparels | 3.82% | 0.00% |
| Telecom - Services | 3.78% | 0.00% |
| Industrial Products | 3.37% | 0.00% |
| Healthcare Services | 3.36% | 0.00% |
| Automobiles | 3.15% | 0.00% |
Questions people ask
What is the difference between Bank of India Business Cycle and LIC MF Banking and Financial Services returns?
As of 5 Nov 2026, Direct plan Growth option: 1-year return +2.61% vs −3.46%; 3-year CAGR — vs +7.71%; 5-year CAGR — vs +8.66%; 10-year CAGR — vs +9.06%. Past returns do not indicate future returns.
How do Bank of India Business Cycle and LIC MF Banking and Financial Services compare on risk?
Volatility (36 monthly returns, annualised) 19.52% vs 17.38%; Sharpe ratio -0.38 vs 0.07; Sortino ratio -0.51 vs 0.10; maximum drawdown −25.21% vs −44.76%; beta 1.05 vs 0.95.
How much do Bank of India Business Cycle and LIC MF Banking and Financial Services overlap?
By weight, 10.6% of the two portfolios is invested in the same companies; 4 stocks are held by both, the largest shared positions being ICICI Bank Limited, HDFC Bank Limited, Nippon Life India Asset Management Limited. Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of Bank of India Business Cycle and LIC MF Banking and Financial Services?
Bank of India Business Cycle: large cap 43.9%, mid cap 15.9%, small cap 28.3%. LIC MF Banking and Financial Services: large cap 38.9%, mid cap 34.4%, small cap 22.4% (share of the fund's assets, from its latest disclosed portfolio).
Is this a recommendation to choose one of these funds?
No. This page places the published figures of both funds side by side. It does not rank, rate or recommend either fund; which one suits an investor depends on their goals, horizon and risk tolerance.
More comparisons
Bank of India Business Cycle vs
- Bank of India Business Cycle vs UTI Financial Services Debt
- Bank of India Business Cycle vs Bank of India Consumption
- Bank of India Business Cycle vs Groww Banking & Financial Services
- Bank of India Business Cycle vs Kotak Banking and Financial Services
- Bank of India Business Cycle vs Sundaram Financial Services Opportunities
- Bank of India Business Cycle vs Aditya Birla Sun Life Financial Services Sectoral Debt
LIC MF Banking and Financial Services vs
- LIC MF Banking and Financial Services vs Baroda BNP Paribas Banking and Financial Services
- LIC MF Banking and Financial Services vs Helios Financial Services
- LIC MF Banking and Financial Services vs Mirae Asset Banking and Financial Services
- LIC MF Banking and Financial Services vs Taurus Banking & Financial Services
- LIC MF Banking and Financial Services vs BANDHAN FINANCIAL SERVICES
- LIC MF Banking and Financial Services vs DSP Financial Services Sectoral Debt
All Banking & Financial Services Funds comparisons → · Compare up to six funds yourself → · Every fund in this category → · All comparisons →
Sources: NAV from AMFI; returns, risk and ratios computed by MF Analyser from each fund's NAV history (risk on 36 monthly returns, risk-free rate 6.5%); benchmark ratios against each fund's benchmark total-return index; portfolios from each fund house's monthly disclosure. Returns and ratios as of 5 Nov 2026. IDCW options show no return or risk figures because payouts reduce the NAV and AMFI's file carries no payout history to add back. This page compares published figures only — it does not rank, rate or recommend either fund. Past performance does not indicate future returns; mutual fund investments are subject to market risks.