ICICI Prudential Business Cycle Fund vs ITI Business Cycle Fund
ICICI Prudential Business Cycle Fund and ITI Business Cycle Fund are both Business Cycle Funds. As of 6 Nov 2026 (Direct plan, Growth option): 3-year CAGR +16.38% vs —, 5-year CAGR +15.04% vs —, volatility 14.50% vs —, maximum drawdown −14.39% vs −12.35%. Their portfolios overlap by 10.6% (6 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
| ICICI Prudential Business Cycle | ITI Business Cycle | |
|---|---|---|
| Fund house | ICICI Prudential Mutual Fund | ITI Mutual Fund |
| Compared as | Business Cycle Funds | Business Cycle Funds |
| NAV | ₹26.7700 | ₹10.3817 |
| NAV date | 6 Nov 2026 | 6 Nov 2026 |
| Launched (first NAV) | 19 Jan 2021 | 12 Mar 2026 |
| Track record | 5.8 yrs | 0.7 yrs |
| Fund size (AUM) | ₹14,889 Cr | ₹117 Cr |
| Securities held | 84 | 71 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| ICICI Prudential Business Cycle | ITI Business Cycle | |
|---|---|---|
| 1 month | +7.17% | −1.04% |
| 3 months | −0.04% | −2.14% |
| 6 months | +1.52% | −1.48% |
| 1 year | −0.15% | — |
| 3 years (CAGR) | +16.38% | — |
| 5 years (CAGR) | +15.04% | — |
| 7 years (CAGR) | — | — |
| 10 years (CAGR) | — | — |
| Since launch (CAGR) | +18.50% | — |
| SIP return (XIRR, 5 years) ⓘ | +14.50% | — |
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
| ICICI Prudential Business Cycle | ITI Business Cycle | |
|---|---|---|
| 2026 (year to date) | −1.91% | — |
| 2025 | +16.72% | — |
| 2024 | +21.33% | — |
| 2023 | +34.29% | — |
| 2022 | +11.85% | — |
Risk
| ICICI Prudential Business Cycle | ITI Business Cycle | |
|---|---|---|
| Volatility (annualised) ⓘ | 14.50% | — |
| Downside volatility ⓘ | 9.73% | — |
| Sharpe ratio ⓘ | 0.68 | — |
| Sortino ratio ⓘ | 1.02 | — |
| Maximum drawdown ⓘ | −14.39% | −12.35% |
| Recovery from that fall | 3 months | — |
| Current fall from peak | −3.25% | −6.27% |
| Rolling 1-year return: worst | −9.72% | — |
| Rolling 1-year return: median | +14.39% | — |
| Rolling 1-year return: best | +57.85% | — |
| Share of 1-year periods with a loss | 3.56% | — |
Against each fund's benchmark
| ICICI Prudential Business Cycle | ITI Business Cycle | |
|---|---|---|
| Beta ⓘ | 0.89 | — |
| Alpha (Jensen's, annualised) ⓘ | +3.92% | — |
| R² ⓘ | 92.07 | — |
| Upside capture | 101.81% | — |
| Downside capture | 80.45% | — |
| Tracking error | 4.44% | — |
| Information ratio | 0.90 | — |
| Treynor ratio | 8.63 | — |
Portfolio
Asset mix
| ICICI Prudential Business Cycle | ITI Business Cycle | |
|---|---|---|
| Equity | 86.19% | 91.32% |
| Cash & equivalents | 9.76% | 8.68% |
| Foreign Securities | 2.95% | 0.00% |
| Debt | 1.09% | 0.00% |
Market-cap split (share of fund assets)
| ICICI Prudential Business Cycle | ITI Business Cycle | |
|---|---|---|
| Large Cap | 66.00% | 30.01% |
| Mid Cap | 13.73% | 23.44% |
| Small Cap | 6.45% | 27.98% |
| Unclassified | 0.02% | 9.89% |
Concentration
| ICICI Prudential Business Cycle | ITI Business Cycle | |
|---|---|---|
| Top 10 holdings | 45.59% | 25.37% |
| Effective number of stocks ⓘ | 32.1 | 64.1 |
| Securities held | 84 | 71 |
Portfolio overlap: 10.6%
6 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 | ICICI Prudential Business Cycle | ITI Business Cycle |
|---|---|---|
| HDFC Bank Limited | 9.57% | 3.83% |
| ICICI Bank Limited | 6.70% | 2.37% |
| HDFC Life Insurance Company Limited | 2.95% | 2.01% |
| Reliance Industries Limited | 5.31% | 1.93% |
| Aarti Industries Ltd. | 0.49% | 0.91% |
| State Bank of India | 0.00% | 0.74% |
Top 10 holdings
ICICI Prudential Business Cycle
- HDFC Bank Limited9.57%
- ICICI Bank Limited6.70%
- Reliance Industries Limited5.31%
- Larsen & Toubro Limited4.50%
- Maruti Suzuki India Limited3.95%
- Kotak Mahindra Bank Limited3.44%
- DLF Limited3.25%
- Bharti Airtel Limited2.97%
- Xtrackers Harvest CSI 300 China A-Shares ETF2.95%
- HDFC Life Insurance Company Limited2.95%
ITI Business Cycle
- ESDS Software Solution Ltd6.03%
- HDFC Bank Limited3.83%
- ICICI Bank Limited2.37%
- Eternal Limited2.19%
- Manipal Payment and Identity Solutions Ltd2.02%
- HDFC Life Insurance Company Limited2.01%
- Reliance Industries Limited1.93%
- Titan Company Limited1.70%
- Bajaj Auto Limited1.70%
- Laurus Labs Limited1.59%
Sector exposure
| ICICI Prudential Business Cycle | ITI Business Cycle | |
|---|---|---|
| Banks | 21.25% | 14.10% |
| Pharmaceuticals & Biotechnology | 0.00% | 12.62% |
| Automobiles | 10.95% | 3.53% |
| Insurance | 7.53% | 2.01% |
| Petroleum Products | 6.10% | 1.93% |
| IT - Services | 0.31% | 6.03% |
| Realty | 5.79% | 0.00% |
| Construction | 4.50% | 1.25% |
| Industrial Products | 1.67% | 4.48% |
| Cement & Cement Products | 4.33% | 1.41% |
| Healthcare Services | 0.00% | 4.33% |
| Chemicals & Petrochemicals | 1.72% | 4.31% |
| Retailing | 4.24% | 3.21% |
| Finance | 0.71% | 3.48% |
Questions people ask
What is the difference between ICICI Prudential Business Cycle and ITI Business Cycle returns?
As of 6 Nov 2026, Direct plan Growth option: 1-year return −0.15% vs —; 3-year CAGR +16.38% vs —; 5-year CAGR +15.04% vs —; 10-year CAGR — vs —. Past returns do not indicate future returns.
How do ICICI Prudential Business Cycle and ITI Business Cycle compare on risk?
Volatility (36 monthly returns, annualised) 14.50% vs —; Sharpe ratio 0.68 vs —; Sortino ratio 1.02 vs —; maximum drawdown −14.39% vs −12.35%; beta 0.89 vs —.
How much do ICICI Prudential Business Cycle and ITI Business Cycle overlap?
By weight, 10.6% of the two portfolios is invested in the same companies; 6 stocks are held by both, the largest shared positions being HDFC Bank Limited, ICICI Bank Limited, HDFC Life Insurance Company Limited. Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of ICICI Prudential Business Cycle and ITI Business Cycle?
ICICI Prudential Business Cycle: large cap 66.0%, mid cap 13.7%, small cap 6.5%. ITI Business Cycle: large cap 30.0%, mid cap 23.4%, small cap 28.0% (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.
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ITI Business Cycle vs
All Business Cycle 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 6 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.