COMPARE
Mahindra Manulife Business Cycle Fund - Direct Plan - Growth vs Mahindra Manulife Consumption Fund - Direct Plan -Growth
Mahindra Manulife Business Cycle Fund and Mahindra Manulife Consumption Fund are both in the Thematic Fund category, from Mahindra Manulife Investment Management Pvt Ltd. Mahindra Manulife Consumption Fund has posted a higher 3-year rolling CAGR. Mahindra Manulife Business Cycle Fund has the lower expense ratio. See the full table and FAQ below for the complete real-data comparison.
Basics
Mahindra Manulife Business Cycle Fund has the lower direct-plan expense ratio, by 0.16 percentage points.
| Mahindra Manulife Business Cycle Fund - Direct Plan - Growth | Mahindra Manulife Consumption Fund - Direct Plan -Growth | |
|---|---|---|
| Category | Thematic Fund | Thematic Fund |
| AMC | Mahindra Manulife Investment Management Pvt Ltd | Mahindra Manulife Investment Management Pvt Ltd |
| Benchmark | Nifty 500 TRI | Nifty India Consumption TRI |
| NAV | ₹15.062 (2026-10-28) | ₹23.442 (2026-10-28) |
| AUM | ₹1,231.8 Cr | ₹501.29 Cr |
| Expense Ratio (Direct) | 0.93% | 1.09% |
| Inception | 2023-08-21 | 2018-10-19 |
Returns
Mahindra Manulife Consumption Fund leads on 3-year rolling CAGR (18.0% vs Mahindra Manulife Business Cycle Fund's 16.4%) - see the FAQ below for percentile context within each fund's own category.
Risk Metrics
Mahindra Manulife Business Cycle Fund has been the more volatile of the two by standard deviation.
| Mahindra Manulife Business Cycle Fund - Direct Plan - Growth | Mahindra Manulife Consumption Fund - Direct Plan -Growth | |
|---|---|---|
| 3Y Sharpe Ratio | 0.42 | -0.03 |
| 3Y Alpha | 5.306% | -1.4919% |
| 3Y Std Deviation | 15.5624% | 14.558% |
| 3Y Calmar Ratio | 0.63 | 0.29 |
Portfolio Analytics
Mahindra Manulife Consumption Fund carries the higher portfolio P/E ratio (a rougher proxy for how richly the underlying holdings are valued) - see the table below for the full comparison.
| Mahindra Manulife Business Cycle Fund - Direct Plan - Growth | Mahindra Manulife Consumption Fund - Direct Plan -Growth | |
|---|---|---|
| P/E Ratio | 20.3584 | 34.9443 |
| P/B Ratio | 4.5144 | 6.656 |
| Dividend Yield | 1.0169% | 0.8343% |
| Active Share | 77.78% | 45.27% |
| Portfolio Turnover | 96% | 46% |
| YTM | - | - |
| Duration (Macaulay) | - | - |
Punji Fund Health Score
Mahindra Manulife Business Cycle Fund has the stronger Punji Quality grade of the two.
Frequently asked questions
Which has a higher 3-year return, Mahindra Manulife Business Cycle Fund or Mahindra Manulife Consumption Fund?
Mahindra Manulife Consumption Fund's 3-year rolling CAGR of 18.0% is higher than Mahindra Manulife Business Cycle Fund's 16.4%. Mahindra Manulife Consumption Fund sits in the 55th percentile of its category on this metric, versus the 42nd percentile for Mahindra Manulife Business Cycle 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, Mahindra Manulife Business Cycle Fund or Mahindra Manulife Consumption Fund?
Mahindra Manulife Business Cycle Fund's direct-plan expense ratio is 0.16 percentage points lower than Mahindra Manulife Consumption 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, Mahindra Manulife Business Cycle Fund or Mahindra Manulife Consumption Fund?
By standard deviation (a measure of how much a fund's returns swing around its own average), Mahindra Manulife Business Cycle Fund has been more volatile than Mahindra Manulife Consumption 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 (0.42 for Mahindra Manulife Business Cycle Fund vs -0.03 for Mahindra Manulife Consumption 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, Mahindra Manulife Business Cycle Fund or Mahindra Manulife Consumption Fund?
Mahindra Manulife Business Cycle Fund has ₹1,232 Cr in assets under management, versus ₹501 Cr for Mahindra Manulife Consumption 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 fund has a longer track record, Mahindra Manulife Business Cycle Fund or Mahindra Manulife Consumption Fund?
Mahindra Manulife Consumption Fund launched on 2018-10-19, making it older than Mahindra Manulife Business Cycle Fund (launched 2023-08-21). 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.