Small Cap Mutual Funds
At least 65% in companies ranked 251st and below.
The highest return and the highest pain in Indian equity. These companies are thinly traded, so a fund that grows too large struggles to buy and sell without moving the price — which is why good small-cap funds close to new money.
Who it suits. Only money that will not be needed for a decade, and only alongside steadier funds. Hold for 10 years or more.
Direct plans in this category
- BANDHAN Small Cap FundBandhan Mutual Fund · NAV ₹54.09 2.3% 22.1% 18.0%
- BANK OF INDIA SMALL CAP FUNDBank of India Mutual Fund · NAV ₹62.46 16.7% 18.8% 17.9%
- Invesco India Small Cap FundInvesco Mutual Fund · NAV ₹50.80 2.9% 19.5% 17.4%
- Quant Small Cap Fundquant Mutual Fund · NAV ₹301.49 3.8% 16.4% 16.5%
- Nippon India Small Cap FundNippon India Mutual Fund · NAV ₹193.83 -1.4% 12.6% 16.5%
- ITI Small Cap FundITI Mutual Fund · NAV ₹36.07 7.5% 20.6% 15.9%
- DSP Small Cap FundDSP Mutual Fund · NAV ₹240.48 9.9% 15.4% 15.6%
- Union Small Cap FundUnion Mutual Fund · NAV ₹63.13 9.1% 14.0% 15.5%
- Edelweiss Small Cap FundEdelweiss Mutual Fund · NAV ₹49.81 -1.4% 12.8% 14.6%
- Axis Small Cap FundAxis Mutual Fund · NAV ₹127.73 0.5% 12.9% 14.0%
- Franklin India Small Cap FundFranklin Templeton Mutual Fund · NAV ₹187.54 -5.1% 9.7% 13.3%
- HDFC Small Cap FundHDFC Mutual Fund · NAV ₹150.71 -8.7% 8.9% 13.0%
- UTI Small Cap FundUTI Mutual Fund · NAV ₹27.91 -4.2% 12.1% 12.8%
- Tata Small Cap FundTata Mutual Fund · NAV ₹41.10 -8.7% 9.1% 12.5%
- Canara Robeco Small Cap FundCanara Robeco Mutual Fund · NAV ₹42.08 -5.4% 9.5% 12.0%
- ICICI Prudential Small Cap FundICICI Prudential Mutual Fund · NAV ₹96.65 -4.1% 9.3% 11.8%
- SBI SMALL CAP FUNDSBI Mutual Fund · NAV ₹198.75 -2.3% 9.5% 11.3%
- Aditya Birla Sun Life Small Cap FundAditya Birla Sun Life Mutual Fund · NAV ₹107.82 4.7% 12.6% 11.3%
- PGIM India Small Cap FundPGIM India Mutual Fund · NAV ₹18.78 2.4% 14.2% 10.9%
- Kotak Small Cap FundKotak Mahindra Mutual Fund · NAV ₹304.30 -2.6% 10.2% 10.5%
- Sundaram Small Cap FundSundaram Mutual Fund · NAV ₹37.80 -4.1% 3.6% 6.5%
- Abakkus Small Cap FundAbakkus Mutual Fund · NAV ₹11.63 — — —
- Bajaj Finserv Small Cap FundBajaj Finserv Mutual Fund · NAV ₹10.74 — — —
- Baroda BNP Paribas Small Cap FundBaroda BNP Paribas Mutual Fund · NAV ₹13.84 — — —
- Groww Small Cap FundGroww Mutual Fund · NAV ₹12.18 — — —
- Helios Small Cap FundHelios Mutual Fund · NAV ₹10.93 — — —
- JM Small Cap FundJM Financial Mutual Fund · NAV ₹11.19 — — —
- LIC MF Small Cap FundLIC Mutual Fund · NAV ₹37.49 7.0% 16.3% —
- Mahindra Manulife Small Cap FundMahindra Manulife Mutual Fund · NAV ₹22.53 4.8% 18.2% —
- Mirae Asset Small Cap FundMirae Asset Mutual Fund · NAV ₹12.09 — — —
- Motilal Oswal Small Cap FundMotilal Oswal Mutual Fund · NAV ₹16.54 — — —
- QUANTUM SMALL CAP FUNDQuantum Mutual Fund · NAV ₹13.09 — — —
- Samco Small Cap FundSamco Mutual Fund · NAV ₹12.19 — — —
- TRUSTMF SMALL CAP FUNDTrust Mutual Fund · NAV ₹13.37 — — —
- The Wealth Company Small Cap FundThe Wealth Company Mutual Fund · NAV ₹11.01 — — —
Point-to-point CAGR from AMFI NAV history, Direct plans only. Ordered by five-year return so the list has a shape, not because the order is a judgement. Past returns do not predict future ones — a fund near the top is usually there because its style suited the last five years, and styles take turns.
Other categories
Questions people ask
What is a Small Cap fund?
At least 65% in companies ranked 251st and below. The highest return and the highest pain in Indian equity. These companies are thinly traded, so a fund that grows too large struggles to buy and sell without moving the price — which is why good small-cap funds close to new money.
Who should invest in Small Cap funds?
Only money that will not be needed for a decade, and only alongside steadier funds. A sensible holding period is 10 years or more.
How is this list ordered?
By five-year CAGR computed from AMFI's published NAV history, within one plan type. It is a sort, not a verdict — a fund near the top is there because its style suited the last five years, which is not a promise about the next five.
Should I choose the Direct or Regular plan?
A Direct plan holds exactly the same portfolio without the distributor commission, so its expense ratio is lower — commonly 0.5% to 1.2% a year — and it compounds ahead of the Regular plan for ever. Choose Regular only if you want an intermediary's advice and are content to pay for it annually.