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
- BANK OF INDIA SMALL CAP FUNDBank of India Mutual Fund · NAV ₹65.66 28.1% 24.3% 22.0%
- Invesco India Smallcap FundInvesco Mutual Fund · NAV ₹54.71 16.1% 25.0% 21.8%
- Quant Small Cap Fundquant Mutual Fund · NAV ₹319.79 14.4% 19.0% 21.4%
- Nippon India Small Cap FundNippon India Mutual Fund · NAV ₹210.72 10.7% 17.8% 21.1%
- BANDHAN Small Cap FundBandhan Mutual Fund · NAV ₹57.59 12.5% 26.9% 20.9%
- ITI Small Cap FundITI Mutual Fund · NAV ₹38.73 21.9% 27.2% 20.8%
- DSP Small Cap FundDSP Mutual Fund · NAV ₹257.75 18.9% 19.6% 19.8%
- Edelweiss Small Cap FundEdelweiss Mutual Fund · NAV ₹54.69 12.1% 18.1% 19.6%
- Union Small Cap FundUnion Mutual Fund · NAV ₹67.91 23.7% 19.9% 19.3%
- Franklin India Small Cap FundFranklin Templeton Mutual Fund · NAV ₹207.53 7.6% 15.8% 18.6%
- Axis Small Cap FundAxis Mutual Fund · NAV ₹137.84 11.7% 17.9% 18.3%
- Canara Robeco Small Cap FundCanara Robeco Mutual Fund · NAV ₹46.64 8.6% 15.2% 18.0%
- UTI Small Cap FundUTI Mutual Fund · NAV ₹30.49 8.4% 16.8% 17.6%
- HDFC Small Cap FundHDFC Mutual Fund · NAV ₹160.95 -0.6% 12.6% 16.9%
- Tata Small Cap FundTata Mutual Fund · NAV ₹44.80 -0.4% 13.6% 16.4%
- ICICI Prudential Small Cap FundICICI Prudential Mutual Fund · NAV ₹104.59 5.3% 13.7% 16.3%
- SBI SMALL CAP FUNDSBI Mutual Fund · NAV ₹216.63 7.7% 13.9% 16.3%
- Aditya Birla Sun Life Small Cap FundAditya Birla Sun Life Mutual Fund · NAV ₹115.95 19.3% 17.6% 16.0%
- PGIM India Small Cap FundPGIM India Mutual Fund · NAV ₹20.35 15.4% 18.5% 15.6%
- Kotak Small Cap FundKotak Mahindra Mutual Fund · NAV ₹329.95 7.2% 14.3% 15.1%
- Sundaram Small Cap FundSundaram Mutual Fund · NAV ₹41.56 11.0% 9.0% 10.9%
- Abakkus Small Cap FundAbakkus Mutual Fund · NAV ₹12.67 — — —
- Bajaj Finserv Small Cap FundBajaj Finserv Mutual Fund · NAV ₹11.44 — — —
- Baroda BNP Paribas Small Cap FundBaroda BNP Paribas Mutual Fund · NAV ₹14.88 — — —
- Groww Small Cap FundGroww Mutual Fund · NAV ₹12.86 — — —
- Helios Small Cap FundHelios Mutual Fund · NAV ₹11.69 — — —
- JM Small Cap FundJM Financial Mutual Fund · NAV ₹12.08 — — —
- LIC MF Small Cap FundLIC Mutual Fund · NAV ₹39.99 19.1% 20.5% —
- Mahindra Manulife Small Cap FundMahindra Manulife Mutual Fund · NAV ₹24.18 17.9% 22.7% —
- Mirae Asset Small Cap FundMirae Asset Mutual Fund · NAV ₹13.00 — — —
- Motilal Oswal Small Cap FundMotilal Oswal Mutual Fund · NAV ₹17.84 — — —
- QUANTUM SMALL CAP FUNDQuantum Mutual Fund · NAV ₹14.31 — — —
- Samco Small Cap FundSamco Mutual Fund · NAV ₹11.75 — — —
- TRUSTMF SMALL CAP FUNDTrust Mutual Fund · NAV ₹14.01 — — —
- The Wealth Company Small Cap FundThe Wealth Company Mutual Fund · NAV ₹12.00 — — —
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.