Kotak Business Cycle Fund vs Sundaram Business Cycle Fund
Kotak Business Cycle Fund and Sundaram Business Cycle Fund are both Business Cycle Funds. As of 5 Nov 2026 (Direct plan, Growth option): 3-year CAGR +17.79% vs —, 5-year CAGR — vs —, volatility 15.48% vs 17.24%, maximum drawdown −18.42% vs −19.49%. Their portfolios overlap by 14.6% (7 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
| Kotak Business Cycle | Sundaram Business Cycle | |
|---|---|---|
| Fund house | Kotak Mahindra Mutual Fund | Sundaram Mutual Fund |
| Compared as | Business Cycle Funds | Business Cycle Funds |
| NAV | ₹18.6540 | ₹11.1752 |
| NAV date | 5 Nov 2026 | 5 Nov 2026 |
| Launched (first NAV) | 6 Oct 2022 | 26 Jun 2024 |
| Track record | 4.1 yrs | 2.4 yrs |
| Fund size (AUM) | ₹3,414 Cr | ₹1,716 Cr |
| Securities held | 52 | 36 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| Kotak Business Cycle | Sundaram Business Cycle | |
|---|---|---|
| 1 month | +3.41% | −1.75% |
| 3 months | −0.01% | −5.71% |
| 6 months | +8.49% | +2.55% |
| 1 year | +6.73% | −1.79% |
| 3 years (CAGR) | +17.79% | — |
| 5 years (CAGR) | — | — |
| 7 years (CAGR) | — | — |
| 10 years (CAGR) | — | — |
| Since launch (CAGR) | +16.32% | +4.76% |
| SIP return (XIRR, 5 years) ⓘ | — | — |
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
| Kotak Business Cycle | Sundaram Business Cycle | |
|---|---|---|
| 2026 (year to date) | +7.01% | +0.04% |
| 2025 | +6.89% | +2.64% |
| 2024 | +29.35% | — |
| 2023 | +24.66% | — |
Risk
| Kotak Business Cycle | Sundaram Business Cycle | |
|---|---|---|
| Volatility (annualised) ⓘ | 15.48% | 17.24% |
| Downside volatility ⓘ | 10.58% | 12.60% |
| Sharpe ratio ⓘ | 0.73 | -0.10 |
| Sortino ratio ⓘ | 1.07 | -0.14 |
| Maximum drawdown ⓘ | −18.42% | −19.49% |
| Recovery from that fall | 6 months | 3 months |
| Current fall from peak | −0.13% | −7.65% |
| Rolling 1-year return: worst | −1.21% | −9.40% |
| Rolling 1-year return: median | +13.38% | +3.35% |
| Rolling 1-year return: best | +46.81% | +12.62% |
| Share of 1-year periods with a loss | 1.05% | 20.77% |
Against each fund's benchmark
| Kotak Business Cycle | Sundaram Business Cycle | |
|---|---|---|
| Beta ⓘ | 0.93 | 0.99 |
| Alpha (Jensen's, annualised) ⓘ | +5.43% | +3.20% |
| R² ⓘ | 89.72 | 80.81 |
| Upside capture | 110.51% | 111.59% |
| Downside capture | 84.12% | 95.20% |
| Tracking error | 5.06% | 7.58% |
| Information ratio | 1.14 | 0.41 |
| Treynor ratio | 10.13 | -3.90 |
Portfolio
Asset mix
| Kotak Business Cycle | Sundaram Business Cycle | |
|---|---|---|
| Equity | 98.63% | 97.08% |
| Cash & equivalents | 1.37% | 2.92% |
Market-cap split (share of fund assets)
| Kotak Business Cycle | Sundaram Business Cycle | |
|---|---|---|
| Large Cap | 42.03% | 17.75% |
| Mid Cap | 20.96% | 35.64% |
| Small Cap | 30.46% | 34.75% |
| Unclassified | 5.18% | 8.94% |
Concentration
| Kotak Business Cycle | Sundaram Business Cycle | |
|---|---|---|
| Top 10 holdings | 40.82% | 36.69% |
| Effective number of stocks ⓘ | 35.7 | 34.2 |
| Securities held | 52 | 36 |
Portfolio overlap: 14.6%
7 companies are held by both funds; by weight, 14.6% of the two portfolios is the same. That is a low overlap: the two portfolios are largely different.
| Held by both | Kotak Business Cycle | Sundaram Business Cycle |
|---|---|---|
| Eternal Limited | 4.05% | 4.00% |
| Lenskart Solutions Limited | 2.70% | 3.15% |
| Shriram Finance Limited | 2.48% | 3.48% |
| 360 One WAM Limited | 1.99% | 2.14% |
| Vedanta Aluminium Metal Limited | 1.75% | 2.18% |
| Mahindra & Mahindra Limited | 1.86% | 1.63% |
| TVS Motor Company Ltd. | 1.15% | 0.03% |
Top 10 holdings
Kotak Business Cycle
- ICICI Bank Limited7.69%
- Aditya Infotech Limited5.74%
- INDO-MIM Ltd.4.39%
- Eternal Limited4.05%
- Axis Bank Limited3.67%
- Aster DM Quality Care Limited3.37%
- Krishna Institute Of Medical Sciences Limited3.23%
- Vijaya Diagnostic Centre Limited3.11%
- Acme Solar Holdings Ltd2.87%
- Lenskart Solutions Limited2.70%
Sundaram Business Cycle
- Radico Khaitan Limited4.20%
- Eternal Limited4.00%
- MTAR Technologies Limited3.80%
- TD Power Systems Limited3.78%
- One 97 Communications Limited3.78%
- InterGlobe Aviation Limited3.61%
- Shriram Finance Limited3.48%
- FSN E-Commerce Ventures Limited3.39%
- Kirloskar Oil Engines Limited3.34%
- Dhoot Transmission Ltd3.32%
Sector exposure
| Kotak Business Cycle | Sundaram Business Cycle | |
|---|---|---|
| Banks | 15.83% | 3.93% |
| Electrical Equipment | 0.00% | 13.44% |
| Industrial Products | 1.77% | 10.58% |
| Retailing | 10.31% | 10.53% |
| Industrial Manufacturing | 10.13% | 0.00% |
| Healthcare Services | 9.71% | 2.76% |
| Finance | 3.48% | 8.52% |
| IT - Software | 3.96% | 8.19% |
| Transport Services | 1.04% | 6.59% |
| Auto Components | 2.08% | 5.60% |
| Automobiles | 5.10% | 1.66% |
| Capital Markets | 4.71% | 4.86% |
| Beverages | 0.00% | 4.20% |
| Financial Technology (Fintech) | 0.00% | 4.12% |
Questions people ask
What is the difference between Kotak Business Cycle and Sundaram Business Cycle returns?
As of 5 Nov 2026, Direct plan Growth option: 1-year return +6.73% vs −1.79%; 3-year CAGR +17.79% vs —; 5-year CAGR — vs —; 10-year CAGR — vs —. Past returns do not indicate future returns.
How do Kotak Business Cycle and Sundaram Business Cycle compare on risk?
Volatility (36 monthly returns, annualised) 15.48% vs 17.24%; Sharpe ratio 0.73 vs -0.10; Sortino ratio 1.07 vs -0.14; maximum drawdown −18.42% vs −19.49%; beta 0.93 vs 0.99.
How much do Kotak Business Cycle and Sundaram Business Cycle overlap?
By weight, 14.6% of the two portfolios is invested in the same companies; 7 stocks are held by both, the largest shared positions being Eternal Limited, Lenskart Solutions Limited, Shriram Finance Limited. Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of Kotak Business Cycle and Sundaram Business Cycle?
Kotak Business Cycle: large cap 42.0%, mid cap 21.0%, small cap 30.5%. Sundaram Business Cycle: large cap 17.8%, mid cap 35.6%, small cap 34.8% (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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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.