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Franklin India Opportunities Fund - Direct - Growth vs ICICI Prudential Business Cycle Fund Direct Plan Growth
Franklin India Opportunities Fund and ICICI Prudential Business Cycle Fund are both in the Sectoral/ Thematic category, from Franklin Templeton Asset Management (India) Private Limited and ICICI Prudential Asset Management Company Limited respectively. ICICI Prudential Business Cycle Fund has posted a higher 3-year rolling CAGR. Franklin India Opportunities Fund has the lower expense ratio. See the full table and FAQ below for the complete real-data comparison.
Basics
Franklin India Opportunities Fund has the lower direct-plan expense ratio, by 0.13 percentage points.
| Franklin India Opportunities Fund - Direct - Growth | ICICI Prudential Business Cycle Fund Direct Plan Growth | |
|---|---|---|
| Category | Sectoral/ Thematic | Sectoral/ Thematic |
| AMC | Franklin Templeton Asset Management (India) Private Limited | ICICI Prudential Asset Management Company Limited |
| Benchmark | Nifty 500 TRI | Nifty 500 TRI |
| NAV | ₹276.9738 (2026-10-28) | ₹24.54 (2026-10-28) |
| AUM | ₹9,055.35 Cr | ₹14,556.59 Cr |
| Expense Ratio (Direct) | 0.88% | 1.01% |
| Inception | 2000-02-21 | 2020-12-29 |
Returns
ICICI Prudential Business Cycle Fund leads on 3-year rolling CAGR (23.6% vs Franklin India Opportunities Fund's 19.1%) - see the FAQ below for percentile context within each fund's own category.
Risk Metrics
Franklin India Opportunities Fund has been the more volatile of the two by standard deviation.
| Franklin India Opportunities Fund - Direct - Growth | ICICI Prudential Business Cycle Fund Direct Plan Growth | |
|---|---|---|
| 3Y Sharpe Ratio | 0.57 | 0.43 |
| 3Y Alpha | 7.869% | 4.4893% |
| 3Y Std Deviation | 15.902% | 12.8078% |
| 3Y Calmar Ratio | 0.90 | 0.88 |
Portfolio Analytics
Franklin India Opportunities Fund carries the higher portfolio YTM.
| Franklin India Opportunities Fund - Direct - Growth | ICICI Prudential Business Cycle Fund Direct Plan Growth | |
|---|---|---|
| P/E Ratio | 32.3127 | 25.2386 |
| P/B Ratio | - | - |
| Dividend Yield | 0.5729% | 1.2656% |
| Active Share | 84.75% | 64.25% |
| Portfolio Turnover | 73.50999999999999% | - |
| YTM | 5.3428% | 5.2265% |
| Duration (Macaulay) | - | - |
Punji Fund Health Score
ICICI Prudential Business Cycle Fund has the stronger Punji Quality grade of the two.
Frequently asked questions
Which has a higher 3-year return, Franklin India Opportunities Fund or ICICI Prudential Business Cycle Fund?
ICICI Prudential Business Cycle Fund's 3-year rolling CAGR of 23.6% is higher than Franklin India Opportunities Fund's 19.1%. ICICI Prudential Business Cycle Fund sits in the 93rd percentile of its category on this metric, versus the 70th percentile for Franklin India Opportunities Fund - though note both funds may belong to different categories with different medians, so a raw CAGR comparison doesn't account for how each fund performed relative to its own peers. A higher historical return also doesn't necessarily mean lower risk; check the risk metrics below before concluding either fund is the "better" choice.
Which has a lower expense ratio, Franklin India Opportunities Fund or ICICI Prudential Business Cycle Fund?
Franklin India Opportunities Fund's direct-plan expense ratio is 0.13 percentage points lower than ICICI Prudential Business Cycle Fund's. Over long holding periods, a persistent expense-ratio gap compounds into a materially different final corpus even if the two funds' gross returns are similar - it's one of the few fund attributes you can compare with total certainty upfront, unlike future returns, since the fee is contractually fixed rather than a historical estimate.
Which fund carries more risk, Franklin India Opportunities Fund or ICICI Prudential Business Cycle Fund?
By standard deviation (a measure of how much a fund's returns swing around its own average), Franklin India Opportunities Fund has been more volatile than ICICI Prudential Business Cycle Fund over the trailing window. Standard deviation captures total volatility in both directions - up and down - so a higher figure means bigger swings generally, not necessarily bigger losses specifically. Sharpe ratio (0.57 for Franklin India Opportunities Fund vs 0.43 for ICICI Prudential Business Cycle Fund) is a better single measure of risk-adjusted return, since it weighs the return earned per unit of volatility taken rather than volatility alone.
Which has higher AUM, Franklin India Opportunities Fund or ICICI Prudential Business Cycle Fund?
ICICI Prudential Business Cycle Fund has ₹14,557 Cr in assets under management, versus ₹9,055 Cr for Franklin India Opportunities Fund. A larger AUM generally means deeper liquidity and lower per-unit fixed costs for the AMC to spread across investors, but an AUM that's very large relative to a fund's category and strategy (especially in small/mid cap categories, where the investable universe is smaller) can also make it harder for a manager to enter and exit positions without moving the price - bigger isn't automatically better, especially for less liquid categories.
Which has a higher yield to maturity (YTM), Franklin India Opportunities Fund or ICICI Prudential Business Cycle Fund?
Franklin India Opportunities Fund's portfolio YTM (5.3428%) is higher than ICICI Prudential Business Cycle Fund's. YTM is the weighted-average return a debt fund's current bond holdings would earn if held to maturity, assuming no defaults and coupons reinvested at the same rate - a useful forward-looking yield estimate for debt funds the way rolling CAGR is for equity funds, though it's an estimate based on today's portfolio, not a guaranteed return, and can move as bonds are bought/sold or as interest rates change.
Which fund has a longer track record, Franklin India Opportunities Fund or ICICI Prudential Business Cycle Fund?
Franklin India Opportunities Fund launched on 2000-02-21, making it older than ICICI Prudential Business Cycle Fund (launched 2020-12-29). A longer track record means more real market cycles (bull runs, corrections, rate cycles) the fund has actually navigated, which is useful context for judging consistency - but it isn't a guarantee of future performance, and a newer fund isn't automatically worse, especially if it's run by an experienced manager or team with a track record at a prior fund.
Data as of 2026-10-29. Source: AMFI disclosures via Punji. Not investment advice.