DSP Business Cycle Fund
Equity OpportunitiesVery HighOPEN-ENDED
- NAV as on 6 Nov 2026
- ₹10.61+1.85%1 day
- Return since launch
- 3.2%
- 52-week range
- ₹9.27 — ₹10.61
- AUM
- ₹1,474 Cr
DSP Business Cycle Fund is a Equity Opportunities equity fund from DSP Mutual Fund with ₹1,474 Cr under management, launched in 2024. The expense ratio is 2.58% and the SEBI riskometer reading is Very High.
Performance
DSP Business Cycle Fund NAV and returns
Growth of the fund against its category average over the period you pick.
Over 1Y this fund returned +4.1% against -1.5% for its category.
Performance
Returns
How the fund has done against its category and its benchmark.
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1Y | 8.9% | +5.3 pts | 3.6% | 4.8% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | 8.4% | +6.5 pts | 1.9% | 4.2% |
| 3M | 0.9% | +2.3 pts | -1.4% | -1.5% |
| 6M | 2.7% | −0.6 pts | 3.3% | 3.8% |
| 1Y | 4.1% | +0.5 pts | 3.6% | -1.7% |
Since launch (27 Nov 2024): 3.2%
Calendar-year returns
Category average2.7%
Show as a table
| Period | Fund | vs category | Category |
|---|---|---|---|
| 2025 | 2.7% | −0.5 pts | 3.2% |
Returns over one year are annualised. Shorter periods are absolute.
Costs & terms
Costs and terms
What the fund charges each year, and the rules around putting money in and taking it out.
Costs
2.51%
Expense ratio as on 6 Nov 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 1.79%
- Brokerage
- 0.10%
- Transaction charges
- 0.01%
- Statutory levies
- 0.61%
- Exit load
- 0.5% for redemption within 1 Month
- Lock-in
- None
Terms
- Min SIP
- ₹3,000
- Min lumpsum
- ₹5,000
- Plan
- GROWTH
- Fund type
- OPEN-ENDED
- Benchmark
- NIFTY 500 TRI
- Short-term capital gains
- Returns taxed at 20% if you redeem before 1 year
- Long-term capital gains
- After 1 year, returns above ₹1.25 lakh in a financial year are taxed at 12.5%
Risk
Risk
What the riskometer means for this fund, and how its ratios sit against the category.
Very High
Your principal is treated as being at very high risk — typically small cap, sectoral and thematic equity schemes.
Portfolio
DSP Business Cycle Fund portfolio
Portfolio as of 30 Sep 2026
Asset allocation
- Equity93.5%
- Other6.5%
Market cap split
- Large78.7%
- Mid15.0%
- Small6.3%
- P/E
- 20.35
- P/B
- 2.73
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| Nifty 50 | Financial | 10.77% | ₹159 Cr | +13.10% | — | — |
| ICICI Bank Ltd. | Financial | 9.85% | ₹145 Cr | +9.24% | +2.61% | +2.64% |
| HDFC Bank Ltd. | Financial | 9.55% | ₹141 Cr | +9.15% | — | — |
| Others | Others | 6.52% | ₹96.10 Cr | +3.78% | -0.90% | -0.14% |
| Axis Bank Ltd. | Financial | 5.42% | ₹79.89 Cr | +6.91% | +5.17% | +4.55% |
| Bharti Airtel Ltd. | Communication | 4.44% | ₹65.49 Cr | +2.90% | +3.44% | +2.32% |
| Larsen & Toubro Ltd. | Construction | 3.98% | ₹58.70 Cr | +3.96% | — | — |
| Reliance Industries Ltd. | Energy | 3.12% | ₹45.95 Cr | +3.18% | — | — |
| Mahindra & Mahindra Ltd. | Automobile | 3.11% | ₹45.80 Cr | +3.64% | +4.33% | +4.54% |
| NTPC Ltd. | Energy | 2.71% | ₹39.99 Cr | +2.51% | +3.22% | +5.28% |
| Ultratech Cement Ltd. | Materials | 2.68% | ₹39.55 Cr | +2.93% | — | — |
| DLF Ltd. | Construction | 2.67% | ₹39.36 Cr | +2.79% | — | — |
| Asian Paints Ltd. | Materials | 2.63% | ₹38.71 Cr | +2.64% | — | — |
| Maruti Suzuki India Ltd. | Automobile | 2.30% | ₹33.94 Cr | +2.91% | — | — |
| Hero Motocorp Ltd. | Automobile | 2.28% | ₹33.53 Cr | +2.31% | — | — |
| HDFC Life Insurance Co Ltd. | Insurance | 1.61% | ₹23.77 Cr | +1.57% | — | — |
| Hyundai Motor India Ltd. | Automobile | 1.45% | ₹21.43 Cr | +1.43% | — | — |
| Schaeffler India Ltd. | Capital Goods | 1.24% | ₹18.31 Cr | +1.55% | +1.50% | +1.48% |
| Page Industries Ltd. | Textiles | 1.19% | ₹17.58 Cr | +0.64% | — | — |
| Voltas Ltd. | Consumer Discretionary | 1.18% | ₹17.45 Cr | +1.64% | +2.27% | +1.90% |
| Interglobe Aviation Ltd. | Services | 1.13% | ₹16.64 Cr | +0.82% | — | +0.76% |
| Shree Cement Ltd. | Materials | 1.06% | ₹15.58 Cr | +1.39% | — | — |
| Power Grid Corporation Of India Ltd. | Energy | 1.04% | ₹15.35 Cr | — | — | +5.63% |
| Life Insurance Corporation of India | Insurance | 0.96% | ₹14.10 Cr | — | — | — |
| Multi Commodity Exchange Of India Ltd. | Services | 0.95% | ₹14.01 Cr | +0.95% | +4.05% | +4.35% |
| Oil And Natural Gas Corporation Ltd. | Energy | 0.93% | ₹13.69 Cr | +0.76% | — | — |
| ICICI Life Insurance Ltd. | Insurance | 0.86% | ₹12.60 Cr | +0.59% | — | — |
| State Bank of India | Financial | 0.85% | ₹12.50 Cr | +0.83% | +7.08% | +5.70% |
| Info Edge (India) Ltd. | Services | 0.83% | ₹12.16 Cr | +1.00% | — | — |
| Bharat Petroleum Corporation Ltd. | Energy | 0.81% | ₹12.00 Cr | +0.73% | — | — |
| Apollo Tyres Ltd. | Automobile | 0.78% | ₹11.55 Cr | +0.97% | +1.14% | +0.86% |
| SBI Life Insurance Company Ltd. | Insurance | 0.77% | ₹11.35 Cr | +0.93% | — | — |
| United Breweries Ltd. | Consumer Staples | 0.77% | ₹11.37 Cr | +1.04% | +1.47% | +1.55% |
| Hindustan Petroleum Corporation Ltd. | Energy | 0.68% | ₹10.02 Cr | +0.49% | — | — |
| Max Financial Services Ltd. | Financial | 0.68% | ₹9.95 Cr | +0.91% | +2.04% | +1.86% |
| Bayer CropScience Ltd. | Chemicals | 0.66% | ₹9.73 Cr | +0.88% | +0.96% | — |
| Timken India Ltd. | Capital Goods | 0.66% | ₹9.79 Cr | — | — | — |
| Carborundum Universal Ltd. | Metals & Mining | 0.60% | ₹8.81 Cr | +1.00% | +0.81% | +0.87% |
| Bank Of Baroda | Financial | 0.53% | ₹7.76 Cr | — | — | — |
| HDFC Asset Management Company Ltd. | Financial | 0.52% | ₹7.59 Cr | — | — | — |
| Nippon Life India Asset Management Ltd. | Financial | 0.46% | ₹6.83 Cr | +1.01% | +1.58% | +1.54% |
| Sudarshan Chemical Industries Ltd. | Chemicals | 0.46% | ₹6.84 Cr | +0.70% | +0.73% | +1.18% |
| Hindustan Aeronautics Ltd. | Capital Goods | 0.45% | ₹6.57 Cr | +0.63% | — | — |
| Indus Towers Ltd. | Communication | 0.43% | ₹6.34 Cr | — | — | — |
| Canara HSBC Life Insurance Company Ltd. | Insurance | 0.41% | ₹6.05 Cr | — | — | — |
| Siemens Ltd. | Capital Goods | 0.39% | ₹5.69 Cr | +0.59% | +1.01% | +0.98% |
| TVS Motor Company Ltd. | Automobile | 0.39% | ₹5.73 Cr | +0.64% | +2.60% | +2.40% |
| Trent Ltd. | Services | 0.37% | ₹5.41 Cr | +0.53% | — | — |
| Nuvoco Vistas Corporation Ltd. | Materials | 0.28% | ₹4.17 Cr | — | — | — |
| Aditya Birla Sun Life AMC Ltd. | Financial | 0.27% | ₹3.92 Cr | +0.36% | — | — |
| Computer Age Management Services Ltd. | Services | 0.24% | ₹3.53 Cr | — | — | — |
| La Opala RG Ltd. | Materials | 0.23% | ₹3.37 Cr | — | — | — |
| Atul Ltd. | Chemicals | 0.22% | ₹3.26 Cr | — | — | — |
| Chalet Hotels Ltd. | Services | 0.21% | ₹3.15 Cr | — | — | — |
| Siemens Energy India Ltd. | Energy | 0.21% | ₹3.09 Cr | +0.28% | +0.88% | +1.07% |
| Birla Corporation Ltd. | Materials | 0.16% | ₹2.33 Cr | — | — | — |
| GSPL Transmission Ltd. | Energy | 0.05% | ₹0.71 Cr | — | — | — |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| Others | -8.46% | -9.74% | -1.28% |
| HDFC Bank Ltd. | 8.49% | 9.55% | +1.06% |
| Nifty 50 | 9.92% | 10.77% | +0.85% |
| Nippon Life India Asset Management Ltd. | 0.88% | 0.46% | -0.42% |
| ICICI Bank Ltd. | 9.44% | 9.85% | +0.41% |
| Timken India Ltd. | 0.28% | 0.66% | +0.38% |
| Axis Bank Ltd. | 5.77% | 5.42% | -0.35% |
| Info Edge (India) Ltd. | 1.16% | 0.83% | -0.33% |
| ICICI Life Insurance Ltd. | 0.54% | 0.86% | +0.32% |
| Nuvoco Vistas Corporation Ltd. | 0.00% | 0.28% | +0.28% |
| Mahindra & Mahindra Ltd. | 3.36% | 3.11% | -0.25% |
| Computer Age Management Services Ltd. | 0.00% | 0.24% | +0.24% |
| Reliance Industries Ltd. | 3.36% | 3.12% | -0.24% |
| Larsen & Toubro Ltd. | 4.20% | 3.98% | -0.22% |
| Maruti Suzuki India Ltd. | 2.51% | 2.30% | -0.21% |
| Bharti Airtel Ltd. | 4.60% | 4.44% | -0.16% |
| Voltas Ltd. | 1.33% | 1.18% | -0.15% |
| Carborundum Universal Ltd. | 0.75% | 0.60% | -0.15% |
| Interglobe Aviation Ltd. | 0.98% | 1.13% | +0.15% |
| Hyundai Motor India Ltd. | 1.58% | 1.45% | -0.13% |
| Birla Corporation Ltd. | 0.03% | 0.16% | +0.13% |
| Max Financial Services Ltd. | 0.78% | 0.68% | -0.10% |
| United Breweries Ltd. | 0.87% | 0.77% | -0.10% |
| Siemens Ltd. | 0.47% | 0.39% | -0.08% |
| HDFC Life Insurance Co Ltd. | 1.69% | 1.61% | -0.08% |
| Oil And Natural Gas Corporation Ltd. | 0.86% | 0.93% | +0.07% |
| Apollo Tyres Ltd. | 0.85% | 0.78% | -0.07% |
| Bayer CropScience Ltd. | 0.72% | 0.66% | -0.06% |
| Bharat Petroleum Corporation Ltd. | 0.87% | 0.81% | -0.06% |
| Life Insurance Corporation of India | 1.01% | 0.96% | -0.05% |
| GSPL Transmission Ltd. | 0.00% | 0.05% | +0.05% |
| NTPC Ltd. | 2.76% | 2.71% | -0.05% |
| Schaeffler India Ltd. | 1.28% | 1.24% | -0.04% |
| Shree Cement Ltd. | 1.10% | 1.06% | -0.04% |
| HDFC Asset Management Company Ltd. | 0.49% | 0.52% | +0.03% |
| Multi Commodity Exchange Of India Ltd. | 0.98% | 0.95% | -0.03% |
| Trent Ltd. | 0.40% | 0.37% | -0.03% |
| La Opala RG Ltd. | 0.26% | 0.23% | -0.03% |
| Sudarshan Chemical Industries Ltd. | 0.49% | 0.46% | -0.03% |
| Hindustan Petroleum Corporation Ltd. | 0.71% | 0.68% | -0.03% |
| Ultratech Cement Ltd. | 2.71% | 2.68% | -0.03% |
| Bank Of Baroda | 0.55% | 0.53% | -0.02% |
| Canara HSBC Life Insurance Company Ltd. | 0.43% | 0.41% | -0.02% |
| Chalet Hotels Ltd. | 0.23% | 0.21% | -0.02% |
| DLF Ltd. | 2.69% | 2.67% | -0.02% |
| Indus Towers Ltd. | 0.45% | 0.43% | -0.02% |
| Power Grid Corporation Of India Ltd. | 1.06% | 1.04% | -0.02% |
| SBI Life Insurance Company Ltd. | 0.79% | 0.77% | -0.02% |
| company:20133 | 0.02% | 0.00% | -0.02% |
| Atul Ltd. | 0.24% | 0.22% | -0.02% |
| TVS Motor Company Ltd. | 0.41% | 0.39% | -0.02% |
| Aditya Birla Sun Life AMC Ltd. | 0.28% | 0.27% | -0.01% |
| Hindustan Aeronautics Ltd. | 0.46% | 0.45% | -0.01% |
| Page Industries Ltd. | 1.18% | 1.19% | +0.01% |
| State Bank of India | 0.84% | 0.85% | +0.01% |
| Hero Motocorp Ltd. | 2.27% | 2.28% | +0.01% |
| Asian Paints Ltd. | 2.63% | 2.63% | 0.00% |
| Siemens Energy India Ltd. | 0.21% | 0.21% | 0.00% |
Compare
Similar funds
The rest of the category, so this fund’s numbers have something to sit against.
| Fund | AUM | Expense | 1Y | 3Y | 5Y |
|---|---|---|---|---|---|
| Category average | ₹6,105 Cr | 2.13% | 6.1% | 8.3% | 14.9% |
 ICICI Prudential Business Cycle Fund | ₹14,889 Cr | 1.86% | 3.5% | 6.8% | 13.3% |
 Franklin India Opportunities Fund | ₹9,577 Cr | 2.08% | -0.7% | 5.4% | 15.7% |
 Kotak Business Cycle Fund | ₹3,414 Cr | 2.02% | 13.8% | 10.7% | — |
 Aditya Birla Sun Life Special Opportunities Fund | ₹1,357 Cr | 2.26% | 14.0% | 13.2% | 15.6% |
 Mahindra Manulife Business Cycle Fund | ₹1,291 Cr | 2.42% | -0.1% | 5.3% | — |
About
About this fund
The scheme’s own words, its benchmark and the people running it.
Investment objective
The scheme seeks to provide long-term capital appreciation by investing in equity and equity related securities with a focus on riding business cycles through dynamic allocation across various sectors / themes / stocks at different stages of business cycle.
Fund managers
- Anish TawakleyMr. Tawakley has done PGDM (MBA) from IIM Bangalore and B. Tech (Mechanical Engineering) from IIT DelhiPrior joining to DSP MF, he has worked with ICICI AMC, Barclays India - Equity Research, Credit Suisse India - Equity research - Indian financial services sector,
- Aparna KarnikMs. Karnik is a Masters in Management Studies.Prior to joining DSP Mutual Fund, she has worked with CRISIL Ratings.
- Sandeep YadavMr. Yadav is a Computer Engineer (Pune University), PGDBM (IIM Bangalore) and a CFA chartered holder.Prior to joining DSP, he has worked with Cognizant Technologies, Hughes Services and Mahindra British Telecom.
Tools
Return calculator
What ₹10,000 a month in this fund would have grown to over each period, based on its past returns.
₹
| Over the past | Total investment | Would’ve become | Growth | Returns |
|---|---|---|---|---|
| 6 months2.68% absolute | ₹60,000 | ₹61,608 | 2.68% | |
| 1 year4.10% annualised | ₹1,20,000 | ₹1,22,699 | 2.25% |
Returns for 1 year and longer are annualised (CAGR); 6-month figures are absolute. Past returns are not a forecast.
How this is calculated
Each monthly instalment grows at the fund’s annualised return ÷ 12 per month until the end of the period, the same formula as our SIP calculator.
The amount compounds once a year at the fund’s CAGR for that period, the same formula as our lumpsum calculator.
Questions
Frequently asked questions
The things people ask about this scheme.
What is the NAV of DSP Business Cycle Fund?
The NAV of DSP Business Cycle Fund is ₹10.61 as on 6 Nov 2026.
What is the expense ratio of DSP Business Cycle Fund?
The expense ratio of DSP Business Cycle Fund is 2.58% per year.
What is the minimum SIP amount for DSP Business Cycle Fund?
You can start a SIP in DSP Business Cycle Fund with ₹3,000 a month.
Is there a lock-in or exit load on DSP Business Cycle Fund?
Lock-in: None. Exit load: 0.5% for redemption within 1 Month.
How risky is DSP Business Cycle Fund?
DSP Business Cycle Fund is rated Very High on the SEBI riskometer and belongs to the Equity Opportunities category.
Which fund house manages DSP Business Cycle Fund?
DSP Business Cycle Fund is managed by DSP Mutual Fund, which runs 60 schemes with ₹2,47,696 Cr under management.