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
Returns as of 10 Nov 2026 · Direct · Growth option
- Invesco India Small Cap FundInvesco Mutual Fund · NAV ₹55.05 16.6% 21.2% 18.9%
- BANDHAN Small Cap FundBandhan Mutual Fund · NAV ₹55.97 7.2% 22.4% 18.6%
- BANK OF INDIA SMALL CAP FUNDBank of India Mutual Fund · NAV ₹64.70 23.4% 18.8% 18.2%
- Nippon India Small Cap FundNippon India Mutual Fund · NAV ₹200.95 6.1% 13.5% 16.9%
- ITI Small Cap FundITI Mutual Fund · NAV ₹37.32 16.9% 21.7% 16.6%
- Quant Small Cap Fundquant Mutual Fund · NAV ₹310.60 10.5% 16.5% 16.5%
- Union Small Cap FundUnion Mutual Fund · NAV ₹65.10 18.5% 15.1% 15.9%
- DSP Small Cap FundDSP Mutual Fund · NAV ₹245.66 14.2% 15.9% 15.7%
- Edelweiss Small Cap FundEdelweiss Mutual Fund · NAV ₹51.79 6.3% 13.6% 15.0%
- Axis Small Cap FundAxis Mutual Fund · NAV ₹132.95 7.0% 13.9% 14.5%
- Franklin India Small Cap FundFranklin Templeton Mutual Fund · NAV ₹194.56 0.6% 10.1% 13.5%
- UTI Small Cap FundUTI Mutual Fund · NAV ₹28.85 2.6% 12.3% 12.9%
- HDFC Small Cap FundHDFC Mutual Fund · NAV ₹153.63 -5.1% 9.4% 12.9%
- Aditya Birla Sun Life Small Cap FundAditya Birla Sun Life Mutual Fund · NAV ₹112.54 13.0% 14.5% 12.5%
- Canara Robeco Small Cap FundCanara Robeco Mutual Fund · NAV ₹43.85 2.3% 10.9% 12.3%
- Tata Small Cap FundTata Mutual Fund · NAV ₹42.09 -3.4% 9.3% 12.1%
- SBI SMALL CAP FUNDSBI Mutual Fund · NAV ₹206.89 4.9% 11.2% 11.9%
- ICICI Prudential Small Cap FundICICI Prudential Mutual Fund · NAV ₹100.25 2.6% 10.4% 11.7%
- PGIM India Small Cap FundPGIM India Mutual Fund · NAV ₹19.86 12.3% 15.3% 11.5%
- Kotak Small Cap FundKotak Mahindra Mutual Fund · NAV ₹317.82 4.9% 11.7% 10.7%
- Sundaram Small Cap FundSundaram Mutual Fund · NAV ₹38.99 1.0% 6.8% 6.5%
- Abakkus Small Cap FundAbakkus Mutual Fund · NAV ₹12.15 — — —
- Bajaj Finserv Small Cap FundBajaj Finserv Mutual Fund · NAV ₹11.01 12.4% — —
- Baroda BNP Paribas Small Cap FundBaroda BNP Paribas Mutual Fund · NAV ₹14.43 8.1% 12.5% —
- Carnelian Small Cap FundCarnelian Mutual Fund · NAV ₹10.03 — — —
- Groww Small Cap FundGroww Mutual Fund · NAV ₹12.55 — — —
- Helios Small Cap FundHelios Mutual Fund · NAV ₹11.42 — — —
- JM Small Cap FundJM Financial Mutual Fund · NAV ₹11.58 10.8% — —
- LIC MF Small Cap FundLIC Mutual Fund · NAV ₹39.12 15.3% 17.2% —
- Mahindra Manulife Small Cap FundMahindra Manulife Mutual Fund · NAV ₹23.68 14.9% 18.9% —
- Mirae Asset Small Cap FundMirae Asset Mutual Fund · NAV ₹12.54 5.6% — —
- Motilal Oswal Small Cap FundMotilal Oswal Mutual Fund · NAV ₹17.35 18.0% — —
- QUANTUM SMALL CAP FUNDQuantum Mutual Fund · NAV ₹13.55 3.8% 10.5% —
- Samco Small Cap FundSamco Mutual Fund · NAV ₹12.37 — — —
- TRUSTMF SMALL CAP FUNDTrust Mutual Fund · NAV ₹13.68 23.4% — —
- The Wealth Company Small Cap FundThe Wealth Company Mutual Fund · NAV ₹11.53 — — —
Point-to-point CAGR from AMFI NAV history, Direct plans only, computed to 10 Nov 2026 with the same engine the fund pages use, so a fund's number here matches its own page. 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.
Compare any two Small Cap funds side by side (666 comparisons) →
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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.