Small cap funds in India
36 live funds in the Small Cap category, ordered by 5-year return, highest first; Bank of India Small Cap Fund leads. Funds younger than five years follow by name. Returns are for the plan each fund's page leads with, Direct where the fund has one, to each fund's latest NAV, the newest of them on 27 Oct 2026; 3 and 5 year returns are a year, compounded.
- Category median, 1 yearCategory median, 1 year. The middle return among the Small Cap category's funds, each over the same window to its own latest NAV, on their Direct plans.
- +3.16%Middle of 31 funds
- Category median, 3 yearsCategory median, 3 years. The middle return among the Small Cap category's funds, each over the same window to its own latest NAV, on their Direct plans; a year, compounded.
- +13.85%Middle of 24 funds
- Category median, 5 yearsCategory median, 5 years. The middle return among the Small Cap category's funds, each over the same window to its own latest NAV, on their Direct plans; a year, compounded.
- +14.33%Middle of 23 funds
Small Cap funds
Size is the average money the fund managed over its latest quarter. Cost is its yearly expense ratio.Filter them in the screener
Bank of India Small Cap FundBank of India Mutual FundNAV₹62.46001Y+18.86%3Y+19.23%5Y+18.35%Size₹3,105 CrCost0.81%
Bandhan Small Cap FundBandhan Mutual FundNAV₹54.08601Y+2.79%3Y+22.42%5Y+18.11%Size₹32,794 CrCost0.65%
Invesco India Small Cap FundInvesco Mutual FundNAV₹50.80001Y+5.50%3Y+20.13%5Y+17.80%Size₹15,129 CrCost0.64%
ITI Small Cap FundITI Mutual FundNAV₹36.06641Y+11.49%3Y+22.03%5Y+16.90%Size₹3,533 CrCost0.84%
quant Small Cap Fundquant Mutual FundNAV₹301.48811Y+5.77%3Y+16.70%5Y+16.80%Size₹35,054 CrCost0.92%
Nippon India Small Cap FundNippon India Mutual FundNAV₹193.82731Y+0.85%3Y+13.28%5Y+16.77%Size₹80,841 CrCost0.69%
Union Small Cap FundUnion Mutual FundNAV₹63.13001Y+13.22%3Y+15.04%5Y+15.96%Size₹2,544 CrCost1.10%
DSP Small Cap FundDSP Mutual FundNAV₹240.48301Y+11.61%3Y+16.16%5Y+15.94%Size₹20,857 CrCost0.84%
LIC MF Small Cap FundLIC Mutual FundNAV₹37.49431Y+9.63%3Y+16.47%5Y+15.72%Size₹797 CrCost1.30%
Edelweiss Small Cap FundEdelweiss Mutual FundNAV₹49.80801Y+1.11%3Y+13.62%5Y+14.98%Size₹6,986 CrCost0.64%
HSBC Small Cap FundHSBC Mutual FundNAV₹93.91691Y+3.16%3Y+12.17%5Y+14.95%Size₹18,453 CrCost0.78%
Axis Small Cap FundAxis Mutual FundNAV₹127.73001Y+2.28%3Y+13.59%5Y+14.33%Size₹30,705 CrCost0.69%
Sundaram Small Cap FundSundaram Mutual FundNAV₹306.69791Y+3.98%3Y+14.30%5Y+14.21%Size₹4,061 CrCost1.00%
Franklin India Small Cap FundFranklin Templeton Mutual FundNAV₹187.53691Y−3.82%3Y+10.34%5Y+13.42%Size₹14,646 CrCost1.06%
UTI Small Cap FundUTI Mutual FundNAV₹27.90521Y−2.08%3Y+12.31%5Y+13.22%Size₹5,348 CrCost1.07%
HDFC Small Cap FundHDFC Mutual FundNAV₹150.71401Y−8.18%3Y+9.31%5Y+12.88%Size₹41,670 CrCost0.79%
Tata Small Cap FundTata Mutual FundNAV₹41.09671Y−7.10%3Y+9.29%5Y+12.61%Size₹12,995 CrCost0.53%
Canara Robeco Small Cap FundCanara Robeco Mutual FundNAV₹42.08001Y−4.08%3Y+10.28%5Y+12.29%Size₹14,356 CrCost0.73%
ICICI Prudential Small Cap FundICICI Prudential Mutual FundNAV₹96.65001Y−2.59%3Y+9.91%5Y+12.01%Size₹9,651 CrCost1.17%
Aditya Birla Sun Life Small Cap FundAditya Birla Sun Life Mutual FundNAV₹107.81681Y+8.44%3Y+14.08%5Y+12.01%Size₹6,030 CrCost1.08%
SBI Small Cap FundSBI Mutual FundNAV₹198.74511Y−0.53%3Y+10.50%5Y+11.73%Size₹41,386 CrCost0.80%
PGIM India Small Cap FundPGIM India Mutual FundNAV₹18.78001Y+4.51%3Y+14.49%5Y+11.16%Size₹1,729 CrCost0.94%
Kotak-Small Cap FundKotak Mahindra Mutual FundNAV₹304.30301Y−0.86%3Y+11.07%5Y+10.68%Size₹19,241 CrCost0.64%
Abakkus Small Cap FundAbakkus Mutual FundNAV₹11.62701Y–3Y–5Y–Size₹2,469 CrCost1.19%
Bajaj Finserv Small Cap FundBajaj Finserv Mutual FundNAV₹10.73601Y+8.98%3Y–5Y–Size₹2,522 CrCost0.98%
Baroda BNP Paribas Small Cap FundBaroda BNP Paribas Mutual FundNAV₹13.83991Y+2.85%3Y–5Y–Size₹1,294 CrCost1.20%
Groww Small Cap FundGroww Mutual FundNAV₹12.18141Y–3Y–5Y–Size₹688 CrCost1.06%
Helios Small Cap FundHelios Mutual FundNAV₹10.93001Y–3Y–5Y–Size₹1,607 CrCost0.89%
JM Small Cap FundJM Financial Mutual FundNAV₹11.18581Y+6.33%3Y–5Y–Size₹900 CrCost0.98%
Mahindra Manulife Small Cap FundMahindra Manulife Mutual FundNAV₹22.53061Y+7.68%3Y+18.39%5Y–Size₹5,252 CrCost0.93%
Mirae Asset Small Cap FundMirae Asset Mutual FundNAV₹12.09201Y+1.32%3Y–5Y–Size₹5,463 CrCost0.68%
Motilal Oswal Small Cap FundMotilal Oswal Mutual FundNAV₹16.53501Y+11.51%3Y–5Y–Size₹7,883 CrCost0.87%
Quantum Small Cap FundQuantum Mutual FundNAV₹13.09001Y+0.15%3Y–5Y–Size₹259 CrCost0.83%
Samco Small Cap FundSamco Mutual FundNAV₹12.19001Y–3Y–5Y–Size₹196 CrCost1.93%
The Wealth Company Small Cap FundThe Wealth Company Mutual FundNAV₹11.00671Y–3Y–5Y–Size₹118 CrCost1.79%
TRUSTMF Small Cap FundTrust Mutual FundNAV₹13.37001Y+20.56%3Y–5Y–Size₹3,204 CrCost1.50%
Tax on small cap funds
Gains on units held over 12 months are taxed at 12.5% above ₹1.25 lakh a year; gains on units held 12 months or less at 20%.
Rules in force from 23 Jul 2024, checked 27 Oct 2026. Surcharge and cess are not included.
About small cap funds in India
Small cap funds in India are mutual funds that put at least 65% of their money in small cap companies, which SEBI defines as every listed company ranked 251st or lower by full market capitalisation. They are equity schemes, and the category sits below large cap and mid cap funds.
What SEBI requires
SEBI's categorisation rules require a small cap fund to invest at least 65% of its total assets in small cap stocks. Market capitalisation means the share price multiplied by the number of shares, and full market capitalisation counts every share, not only those available to trade.
A large cap is one of the 100 largest companies, a mid cap ranks 101st to 250th, and a small cap is 251st onwards.
Who decides which companies are small caps
AMFI publishes the ranked list twice a year, based on each company's average full market capitalisation over the six months to Jun and Dec. A fund's 65% test is applied against the latest list. A company that moves up into the mid cap band stops counting as a small cap, so funds that hold it may need to rebalance.
The list has no fixed rupee cut-off. The market value of the 251st company moves with the market, so the boundary changes at every update.
How the category is run
Small cap companies trade in lower volumes than large ones, so a fund with a large portfolio can take longer to buy or sell a position without moving the price. For this reason, SEBI has asked fund houses to run stress tests and publish how many days a scheme would need to sell 25% and 50% of its portfolio.
Mid cap and multi cap funds
A mid cap fund must hold at least 65% in companies ranked 101st to 250th, and a small cap fund at least 65% in those ranked 251st onwards. A multi cap fund holds at least 25% in small caps, beside 25% each in large and mid caps. The rest of a small cap fund may go into larger companies' shares, money market instruments, gold and silver instruments or InvITs (infrastructure trusts).
What this page shows
The page lists the live funds in the Small Cap category, ordered by five-year return, highest first. Funds younger than five years follow, sorted by name. Each fund is shown by its lead plan, which is the Direct plan where one exists, with returns measured to the latest NAV. Three and five year returns are annualised (compounded yearly). Size is the average money the fund managed over its latest quarter, and Cost is the yearly expense ratio. It also gives the category's median return over one, three and five years.