Carnelian Small Cap Fund vs ITI Small Cap Fund
Carnelian Small Cap Fund and ITI Small Cap Fund are both Small Cap funds. As of 13 Nov 2026 (Direct plan, Growth option): 3-year CAGR — vs +21.71%, 5-year CAGR — vs +17.29%, volatility — vs 19.83%, maximum drawdown — vs −39.86%.
Showing the Direct plan, Growth option. Portfolio, sector and market-cap figures are the same for every plan and option of a fund.
Key facts
| Carnelian Small Cap | ITI Small Cap | |
|---|---|---|
| Fund house | Carnelian Mutual Fund | ITI Mutual Fund |
| Compared as | Small Cap | Small Cap |
| NAV | — | ₹38.3449 |
| NAV date | — | 13 Nov 2026 |
| Launched (first NAV) | — | 19 Feb 2020 |
| Track record | — | 6.7 yrs |
| Fund size (AUM) | — | ₹3,597 Cr |
| Securities held | — | 85 |
| Portfolio as of | Not disclosed yet | 31 Oct 2026 |
| Fund page | Full record → | Full record → |
Returns
| Carnelian Small Cap | ITI Small Cap | |
|---|---|---|
| 1 month | — | +2.16% |
| 3 months | — | +0.73% |
| 6 months | — | +15.05% |
| 1 year | — | +19.78% |
| 3 years (CAGR) | — | +21.71% |
| 5 years (CAGR) | — | +17.29% |
| 7 years (CAGR) | — | — |
| 10 years (CAGR) | — | — |
| Since launch (CAGR) | — | +22.10% |
| SIP return (XIRR, 5 years) ⓘ | — | +22.84% |
Up to one year: absolute return. Beyond one year: CAGR. Computed from each fund's own NAV history (AMFI), measured to the latest NAV.
Calendar-year returns
| Carnelian Small Cap | ITI Small Cap | |
|---|---|---|
| 2026 (year to date) | — | +22.28% |
| 2025 | — | −2.54% |
| 2024 | — | +36.28% |
| 2023 | — | +54.63% |
| 2022 | — | −2.37% |
| 2021 | — | +34.93% |
Risk
| Carnelian Small Cap | ITI Small Cap | |
|---|---|---|
| Volatility (annualised) ⓘ | — | 19.83% |
| Downside volatility ⓘ | — | 12.07% |
| Sharpe ratio ⓘ | — | 0.77 |
| Sortino ratio ⓘ | — | 1.26 |
| Maximum drawdown ⓘ | — | −39.86% |
| Recovery from that fall | — | 5 months |
| Current fall from peak | — | −2.45% |
| Rolling 1-year return: worst | — | −19.05% |
| Rolling 1-year return: median | — | +19.37% |
| Rolling 1-year return: best | — | +113.91% |
| Share of 1-year periods with a loss | — | 18.10% |
Against each fund's benchmark
| Carnelian Small Cap | ITI Small Cap | |
|---|---|---|
| Beta ⓘ | — | 0.89 |
| Alpha (Jensen's, annualised) ⓘ | — | +7.39% |
| R² ⓘ | — | 91.25 |
| Upside capture | — | 100.76% |
| Downside capture | — | 71.24% |
| Tracking error | — | 6.50% |
| Information ratio | — | 1.20 |
| Treynor ratio | — | 17.40 |
Portfolio
Carnelian Small Cap Fund has no usable portfolio disclosure on file yet, so portfolio comparisons are shown only where available.
Asset mix
| Carnelian Small Cap | ITI Small Cap | |
|---|---|---|
| Equity | — | 94.71% |
| Cash & equivalents | — | 5.04% |
| Mutual Fund Units | — | 0.25% |
Market-cap split (share of fund assets)
| Carnelian Small Cap | ITI Small Cap | |
|---|---|---|
| Large Cap | — | 7.58% |
| Mid Cap | — | 18.77% |
| Small Cap | — | 60.41% |
| Unclassified | — | 7.95% |
Concentration
| Carnelian Small Cap | ITI Small Cap | |
|---|---|---|
| Top 10 holdings | — | 22.52% |
| Effective number of stocks ⓘ | — | 73.3 |
| Securities held | — | 85 |
Top 10 holdings
Carnelian Small Cap
Not disclosed yet.
ITI Small Cap
- Acutaas Chemicals Limited4.45%
- Laurus Labs Limited2.79%
- Welspun Corp Limited2.54%
- Karur Vysya Bank Limited2.16%
- Wockhardt Ltd.1.85%
- Multi Commodity Exchange of India Limited1.85%
- VA Tech Wabag Limited1.77%
- GNG Electronics Limited1.73%
- Ather Energy Limited1.71%
- Sai Life Sciences Limited1.67%
Sector exposure
| Carnelian Small Cap | ITI Small Cap | |
|---|---|---|
| Pharmaceuticals & Biotechnology | — | 13.22% |
| Industrial Products | — | 8.75% |
| Auto Components | — | 8.60% |
| Banks | — | 7.78% |
| Electrical Equipment | — | 7.51% |
| Capital Markets | — | 5.09% |
| Industrial Manufacturing | — | 4.95% |
| Chemicals & Petrochemicals | — | 4.01% |
| Finance | — | 3.72% |
| Consumer Durables | — | 2.96% |
| Retailing | — | 2.72% |
| Transport Services | — | 2.19% |
| Healthcare Services | — | 2.17% |
| IT - Services | — | 1.91% |
Questions people ask
What is the difference between Carnelian Small Cap and ITI Small Cap returns?
As of 13 Nov 2026, Direct plan Growth option: 1-year return — vs +19.78%; 3-year CAGR — vs +21.71%; 5-year CAGR — vs +17.29%; 10-year CAGR — vs —. Past returns do not indicate future returns.
How do Carnelian Small Cap and ITI Small Cap compare on risk?
Volatility (36 monthly returns, annualised) — vs 19.83%; Sharpe ratio — vs 0.77; Sortino ratio — vs 1.26; maximum drawdown — vs −39.86%; beta — vs 0.89.
Is this a recommendation to choose one of these funds?
No. This page places the published figures of both funds side by side. It does not rank, rate or recommend either fund; which one suits an investor depends on their goals, horizon and risk tolerance.
More comparisons
Carnelian Small Cap vs
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Sources: NAV from AMFI; returns, risk and ratios computed by MF Analyser from each fund's NAV history (risk on 36 monthly returns, risk-free rate 6.5%); benchmark ratios against each fund's benchmark total-return index; portfolios from each fund house's monthly disclosure. Returns and ratios as of 13 Nov 2026. IDCW options show no return or risk figures because payouts reduce the NAV and AMFI's file carries no payout history to add back. This page compares published figures only — it does not rank, rate or recommend either fund. Past performance does not indicate future returns; mutual fund investments are subject to market risks.