Small Cap funds in India
70 plans (35 Regular, 35 Direct), rated on their track record against the Nifty Smallcap 250 total-return index and their peers. Data as of 5 Nov 2026.
India's smaller listed companies: the highest long-run return potential and the sharpest falls; drops of 30 to 50% have happened. Best built up slowly, for ten-year money, in a fund that can still buy and sell its stocks easily. SEBI requires small cap funds to invest at least 65% in small-cap stocks (companies ranked 251 and below).
The difference, on ₹10 lakh invested three years ago, between the strongest small cap fund (21.4% a year) and the weakest (8.2% a year). Same category, same SEBI rules, same market. 11 of 25 funds beat the Nifty Smallcap 250 total-return index over the same period.
Regular plans, to the latest NAV. Past returns, not a forecast.
Regular plans (35)
| Fund | Rating | 3Y return | 3Y vs index | Expense ratio | AUM |
|---|---|---|---|---|---|
| BANDHAN Small Cap FundBandhan Mutual Fund · 6.7 yrs | A+ | 21.4% | +8.0% | 1.73% | ₹32,794 cr |
| Invesco India Small Cap FundInvesco Mutual Fund · 8.0 yrs | A+ | 19.9% | +6.5% | 1.83% | ₹15,129 cr |
| Mahindra Manulife Small Cap FundMahindra Manulife Mutual Fund · 3.9 yrs | A+ | 17.1% | +3.8% | 2.17% | ₹5,252 cr |
| ITI Small Cap FundITI Mutual Fund · 6.7 yrs | A | 20.7% | +7.4% | 2.20% | ₹3,533 cr |
| Quant Small Cap Fundquant Mutual Fund · 20.6 yrs | A | 16.4% | +3.0% | 1.65% | ₹35,054 cr |
| Nippon India Small Cap FundNippon India Mutual Fund · 16.1 yrs | A | 13.0% | -0.4% | 1.41% | ₹80,841 cr |
| Bank Of India Small Cap FundBank of India Mutual Fund · 7.9 yrs | A | 18.0% | +4.7% | 2.25% | ₹3,105 cr |
| LIC MF Small Cap FundLIC Mutual Fund · 3.3 yrs | A | 16.0% | +2.6% | 2.63% | ₹797 cr |
| DSP Small Cap FundDSP Mutual Fund · 19.4 yrs | B | 16.0% | +2.6% | 1.70% | ₹20,857 cr |
| PGIM India Small Cap FundPGIM India Mutual Fund · 5.3 yrs | B | 13.9% | +0.6% | 2.36% | ₹1,729 cr |
| Edelweiss Small Cap FundEdelweiss Mutual Fund · 7.7 yrs | B | 12.5% | -0.8% | 1.95% | ₹6,986 cr |
| Union Small Cap FundUnion Mutual Fund · 12.4 yrs | B | 14.2% | +0.8% | 2.17% | ₹2,544 cr |
| Sundaram Small Cap FundSundaram Mutual Fund · 20.6 yrs | B | 13.4% | -0.0% | 2.02% | ₹4,061 cr |
| HDFC Small Cap FundHDFC Mutual Fund · 12.4 yrs | B | 8.7% | -4.6% | 1.57% | ₹41,670 cr |
| Aditya Birla Sun Life Small Cap FundAditya Birla Sun Life Mutual Fund · 19.4 yrs | B | 13.7% | +0.3% | 2.00% | ₹6,030 cr |
| Franklin India Small Cap FundFranklin Templeton Mutual Fund · 20.6 yrs | B | 9.8% | -3.5% | 1.87% | ₹14,646 cr |
| Baroda BNP Paribas Small Cap FundBaroda BNP Paribas Mutual Fund · 3.0 yrs | B | 11.1% | -2.2% | 2.46% | ₹1,294 cr |
| Axis Small Cap FundAxis Mutual Fund · 12.9 yrs | C | 12.9% | -0.5% | 1.68% | ₹30,705 cr |
| Tata Small Cap FundTata Mutual Fund · 8.0 yrs | C | 8.2% | -5.2% | 1.69% | ₹12,995 cr |
| UTI Small Cap FundUTI Mutual Fund · 5.9 yrs | C | 11.7% | -1.7% | 2.02% | ₹5,348 cr |
| Quantum Small Cap FundQuantum Mutual Fund · 3.0 yrs | C | 9.2% | -4.2% | 2.31% | ₹259 cr |
| Canara Robeco Small Cap FundCanara Robeco Mutual Fund · 7.7 yrs | C | 9.8% | -3.6% | 1.89% | ₹14,356 cr |
| SBI Small Cap FundSBI Mutual Fund · 13.0 yrs | C | 10.6% | -2.8% | 1.60% | ₹41,386 cr |
| Kotak Small Cap FundKotak Mahindra Mutual Fund · 20.6 yrs | C | 10.8% | -2.6% | 1.71% | ₹19,241 cr |
| ICICI Prudential Small Cap FundICICI Prudential Mutual Fund · 19.0 yrs | C | 9.7% | -3.7% | 2.08% | ₹9,651 cr |
| Abakkus Small Cap FundAbakkus Mutual Fund · 0.6 yrs | – | – | – | 2.44% | ₹2,469 cr |
| Bajaj Finserv Small Cap FundBajaj Finserv Mutual Fund · 1.3 yrs | – | – | – | 2.38% | ₹2,522 cr |
| Groww Small Cap FundGroww Mutual Fund · 0.8 yrs | – | – | – | 2.64% | ₹688 cr |
| Helios Small Cap FundHelios Mutual Fund · 0.9 yrs | – | – | – | 2.34% | ₹1,607 cr |
| JM Small Cap FundJM Financial Mutual Fund · 2.4 yrs | – | – | – | 2.56% | ₹900 cr |
| Mirae Asset Small Cap FundMirae Asset Mutual Fund · 1.8 yrs | – | – | – | 2.09% | ₹5,463 cr |
| Motilal Oswal Small Cap FundMotilal Oswal Mutual Fund · 2.9 yrs | – | – | – | 1.91% | ₹7,883 cr |
| Samco Small Cap FundSamco Mutual Fund · 0.9 yrs | – | – | – | 3.36% | ₹196 cr |
| Trustmf Small Cap FundTrust Mutual Fund · 2.0 yrs | – | – | – | 2.83% | ₹3,204 cr |
| The Wealth Company Small Cap FundThe Wealth Company Mutual Fund · 0.6 yrs | – | – | – | 3.60% | ₹118 cr |
Direct plans (35)
| Fund | Rating | 3Y return | 3Y vs index | Expense ratio | AUM |
|---|---|---|---|---|---|
| BANDHAN Small Cap FundBandhan Mutual Fund · 6.7 yrs | A+ | 23.0% | +9.6% | 0.65% | ₹32,794 cr |
| Invesco India Small Cap FundInvesco Mutual Fund · 8.0 yrs | A+ | 21.5% | +8.1% | 0.63% | ₹15,129 cr |
| Mahindra Manulife Small Cap FundMahindra Manulife Mutual Fund · 3.9 yrs | A+ | 18.8% | +5.5% | 0.90% | ₹5,252 cr |
| ITI Small Cap FundITI Mutual Fund · 6.7 yrs | A | 22.6% | +9.2% | 0.84% | ₹3,533 cr |
| Bank Of India Small Cap FundBank of India Mutual Fund · 7.9 yrs | A | 19.8% | +6.4% | 0.82% | ₹3,105 cr |
| Quant Small Cap Fundquant Mutual Fund · 13.8 yrs | A | 17.4% | +4.0% | 0.96% | ₹35,054 cr |
| Nippon India Small Cap FundNippon India Mutual Fund · 13.8 yrs | A | 13.9% | +0.5% | 0.69% | ₹80,841 cr |
| Edelweiss Small Cap FundEdelweiss Mutual Fund · 7.7 yrs | A | 14.1% | +0.8% | 0.63% | ₹6,986 cr |
| PGIM India Small Cap FundPGIM India Mutual Fund · 5.3 yrs | B | 15.7% | +2.3% | 0.93% | ₹1,729 cr |
| LIC MF Small Cap FundLIC Mutual Fund · 3.3 yrs | B | 17.4% | +4.0% | 1.30% | ₹797 cr |
| DSP Small Cap FundDSP Mutual Fund · 13.8 yrs | B | 17.0% | +3.6% | 0.83% | ₹20,857 cr |
| Axis Small Cap FundAxis Mutual Fund · 12.9 yrs | B | 14.1% | +0.7% | 0.70% | ₹30,705 cr |
| Union Small Cap FundUnion Mutual Fund · 12.4 yrs | B | 15.5% | +2.1% | 1.03% | ₹2,544 cr |
| Baroda BNP Paribas Small Cap FundBaroda BNP Paribas Mutual Fund · 3.0 yrs | B | 12.7% | -0.7% | 1.21% | ₹1,294 cr |
| Quantum Small Cap FundQuantum Mutual Fund · 3.0 yrs | B | 10.8% | -2.5% | 0.83% | ₹259 cr |
| Tata Small Cap FundTata Mutual Fund · 8.0 yrs | B | 9.7% | -3.7% | 0.52% | ₹12,995 cr |
| HDFC Small Cap FundHDFC Mutual Fund · 12.4 yrs | B | 9.7% | -3.7% | 0.80% | ₹41,670 cr |
| Aditya Birla Sun Life Small Cap FundAditya Birla Sun Life Mutual Fund · 13.8 yrs | B | 14.8% | +1.5% | 1.07% | ₹6,030 cr |
| UTI Small Cap FundUTI Mutual Fund · 5.9 yrs | C | 13.1% | -0.3% | 1.05% | ₹5,348 cr |
| Franklin India Small Cap FundFranklin Templeton Mutual Fund · 13.8 yrs | C | 10.8% | -2.6% | 1.06% | ₹14,646 cr |
| Canara Robeco Small Cap FundCanara Robeco Mutual Fund · 7.7 yrs | C | 11.1% | -2.2% | 0.74% | ₹14,356 cr |
| Kotak Small Cap FundKotak Mahindra Mutual Fund · 13.8 yrs | C | 12.0% | -1.3% | 0.63% | ₹19,241 cr |
| ICICI Prudential Small Cap FundICICI Prudential Mutual Fund · 13.8 yrs | C | 10.8% | -2.6% | 1.16% | ₹9,651 cr |
| SBI Small Cap FundSBI Mutual Fund · 13.0 yrs | C | 11.5% | -1.8% | 0.80% | ₹41,386 cr |
| Sundaram Small Cap FundSundaram Mutual Fund · 13.8 yrs | C | 7.0% | -6.4% | 0.96% | ₹4,061 cr |
| Abakkus Small Cap FundAbakkus Mutual Fund · 0.6 yrs | – | – | – | 1.13% | ₹2,469 cr |
| Bajaj Finserv Small Cap FundBajaj Finserv Mutual Fund · 1.3 yrs | – | – | – | 1.01% | ₹2,522 cr |
| Groww Small Cap FundGroww Mutual Fund · 0.8 yrs | – | – | – | 1.00% | ₹688 cr |
| Helios Small Cap FundHelios Mutual Fund · 0.9 yrs | – | – | – | 0.84% | ₹1,607 cr |
| JM Small Cap FundJM Financial Mutual Fund · 2.4 yrs | – | – | – | 1.00% | ₹900 cr |
| Mirae Asset Small Cap FundMirae Asset Mutual Fund · 1.8 yrs | – | – | – | 0.67% | ₹5,463 cr |
| Motilal Oswal Small Cap FundMotilal Oswal Mutual Fund · 2.9 yrs | – | – | – | 0.85% | ₹7,883 cr |
| Samco Small Cap FundSamco Mutual Fund · 0.9 yrs | – | – | – | 1.92% | ₹196 cr |
| Trustmf Small Cap FundTrust Mutual Fund · 2.0 yrs | – | – | – | 1.46% | ₹3,204 cr |
| The Wealth Company Small Cap FundThe Wealth Company Mutual Fund · 0.6 yrs | – | – | – | 1.67% | ₹118 cr |
Common questions
What does a small cap fund invest in?
SEBI requires small cap funds to invest at least 65% in small-cap stocks (companies ranked 251 and below).
How many small cap funds beat their index over 3 years?
11 of 25 small cap funds (Regular plans with 3 years of history) beat the Nifty Smallcap 250 total-return index over the 3 years to 5 Nov 2026.
How are these funds rated?
Each fund is compared only with funds in its category and plan type, on its long-run return over the index, risk-adjusted return, consistency, cost and portfolio. The ratings describe the track record so far; our own backtest found they do not predict future returns.
Ratings describe past track records and are not a recommendation to buy or sell. Read the scheme documents before investing.