DSP Small Cap Fund vs HDFC Small Cap Fund
DSP Small Cap Fund and HDFC Small Cap Fund are both Small Cap funds. As of 5 Nov 2026 (Direct plan, Growth option): 3-year CAGR +16.98% vs +9.65%, 5-year CAGR +16.34% vs +13.32%, volatility 21.20% vs 17.40%, maximum drawdown −49.06% vs −48.26%. Their portfolios overlap by 11.6% (14 stocks held by both).
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
| DSP Small Cap | HDFC Small Cap | |
|---|---|---|
| Fund house | DSP Mutual Fund | HDFC Mutual Fund |
| Compared as | Small Cap | Small Cap |
| NAV | ₹246.8970 | ₹153.3860 |
| NAV date | 5 Nov 2026 | 5 Nov 2026 |
| Launched (first NAV) | 2 Jan 2013 | 30 Jun 2014 |
| Track record | 13.8 yrs | 12.4 yrs |
| Fund size (AUM) | ₹21,467 Cr | ₹40,801 Cr |
| Securities held | 84 | 85 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| DSP Small Cap | HDFC Small Cap | |
|---|---|---|
| 1 month | −1.97% | −1.75% |
| 3 months | −1.56% | −6.47% |
| 6 months | +6.74% | −1.50% |
| 1 year | +13.20% | −6.68% |
| 3 years (CAGR) | +16.98% | +9.65% |
| 5 years (CAGR) | +16.34% | +13.32% |
| 7 years (CAGR) | +24.02% | +20.22% |
| 10 years (CAGR) | +16.43% | +17.30% |
| Since launch (CAGR) | +20.98% | +17.34% |
| SIP return (XIRR, 5 years) ⓘ | +16.79% | +10.95% |
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
| DSP Small Cap | HDFC Small Cap | |
|---|---|---|
| 2026 (year to date) | +14.41% | −2.86% |
| 2025 | −1.92% | +0.25% |
| 2024 | +26.72% | +21.54% |
| 2023 | +42.45% | +46.17% |
| 2022 | +1.37% | +5.64% |
| 2021 | +60.30% | +66.49% |
Risk
| DSP Small Cap | HDFC Small Cap | |
|---|---|---|
| Volatility (annualised) ⓘ | 21.20% | 17.40% |
| Downside volatility ⓘ | 13.28% | 12.14% |
| Sharpe ratio ⓘ | 0.50 | 0.18 |
| Sortino ratio ⓘ | 0.79 | 0.26 |
| Maximum drawdown ⓘ | −49.06% | −48.26% |
| Recovery from that fall | 9 months | 9 months |
| Current fall from peak | −5.07% | −7.53% |
| Rolling 1-year return: worst | −31.78% | −43.19% |
| Rolling 1-year return: median | +19.34% | +12.40% |
| Rolling 1-year return: best | +127.25% | +126.35% |
| Share of 1-year periods with a loss | 18.41% | 23.23% |
Against each fund's benchmark
| DSP Small Cap | HDFC Small Cap | |
|---|---|---|
| Beta ⓘ | 0.93 | 0.78 |
| Alpha (Jensen's, annualised) ⓘ | +2.02% | −3.52% |
| R² ⓘ | 88.28 | 92.20 |
| Upside capture | 99.68% | 75.44% |
| Downside capture | 92.80% | 83.29% |
| Tracking error | 7.59% | 6.89% |
| Information ratio | 0.22 | -0.76 |
| Treynor ratio | 9.99 | 3.10 |
Portfolio
Asset mix
| DSP Small Cap | HDFC Small Cap | |
|---|---|---|
| Equity | 88.67% | 90.07% |
| Cash & equivalents | 11.33% | 9.93% |
Market-cap split (share of fund assets)
| DSP Small Cap | HDFC Small Cap | |
|---|---|---|
| Large Cap | 0.00% | 6.49% |
| Mid Cap | 7.06% | 9.19% |
| Small Cap | 80.86% | 74.13% |
| Unclassified | 0.75% | 0.26% |
Concentration
| DSP Small Cap | HDFC Small Cap | |
|---|---|---|
| Top 10 holdings | 28.38% | 25.37% |
| Effective number of stocks ⓘ | 66.4 | 71.3 |
| Securities held | 84 | 85 |
Portfolio overlap: 11.6%
14 companies are held by both funds; by weight, 11.6% of the two portfolios is the same. That is a low overlap: the two portfolios are largely different.
| Held by both | DSP Small Cap | HDFC Small Cap |
|---|---|---|
| eClerx Services Limited | 2.02% | 2.92% |
| Suprajit Engineering Ltd. | 1.34% | 1.40% |
| Dodla Dairy Ltd. | 1.96% | 1.24% |
| Apar Industries Limited | 1.11% | 1.92% |
| Voltamp Transformers Ltd. | 1.32% | 1.03% |
| Vardhman Textiles Limited | 0.95% | 1.22% |
| Kalpataru Projects International Ltd | 0.78% | 1.57% |
| Eris Lifesciences Ltd | 0.68% | 1.89% |
| Aadhar Housing Finance Limited | 0.59% | 0.72% |
| Chambal Fertilizers & Chemicals Limited | 0.57% | 0.86% |
| Sharda Cropchem Limited | 0.45% | 0.97% |
| Sudarshan Chemical Industries Limited | 0.36% | 1.71% |
| La Opala RG Limited | 0.48% | 0.35% |
| Equitas Small Finance Bank Limited | 0.14% | 1.15% |
Top 10 holdings
DSP Small Cap
- Lumax Auto Technologies Limited5.16%
- Kirloskar Oil Engines Limited3.77%
- Thangamayil Jewellery Limited3.37%
- Welspun Corp Limited2.94%
- Sansera Engineering Limited2.85%
- SPR Auto Technologies Ltd2.34%
- IPCA Laboratories Limited2.14%
- eClerx Services Limited2.02%
- Dodla Dairy Ltd.1.96%
- Jubilant Ingrevia Limited1.83%
HDFC Small Cap
- Firstsource Solutions Limited3.68%
- Aster DM Quality Care Limited3.37%
- Gabriel India Ltd.3.09%
- eClerx Services Limited2.92%
- Bank of Baroda2.65%
- Krishna Institute Of Medical Sciences Limited2.04%
- Apar Industries Limited1.92%
- Indian Bank1.91%
- Pearl Global Industries Limited1.90%
- Eris Lifesciences Ltd1.89%
Sector exposure
| DSP Small Cap | HDFC Small Cap | |
|---|---|---|
| Industrial Products | 15.53% | 3.91% |
| Auto Components | 14.66% | 11.83% |
| Consumer Durables | 11.34% | 4.39% |
| Banks | 0.92% | 8.80% |
| Commercial Services & Supplies | 2.02% | 8.35% |
| Healthcare Services | 1.93% | 8.24% |
| Pharmaceuticals & Biotechnology | 8.15% | 2.55% |
| Chemicals & Petrochemicals | 6.02% | 1.71% |
| Transport Services | 0.00% | 5.43% |
| Construction | 2.38% | 4.09% |
| Retailing | 0.48% | 3.86% |
| Textiles & Apparels | 1.82% | 3.12% |
| Fertilizers & Agrochemicals | 3.06% | 2.20% |
| Electrical Equipment | 2.43% | 2.95% |
Questions people ask
What is the difference between DSP Small Cap and HDFC Small Cap returns?
As of 5 Nov 2026, Direct plan Growth option: 1-year return +13.20% vs −6.68%; 3-year CAGR +16.98% vs +9.65%; 5-year CAGR +16.34% vs +13.32%; 10-year CAGR +16.43% vs +17.30%. Past returns do not indicate future returns.
How do DSP Small Cap and HDFC Small Cap compare on risk?
Volatility (36 monthly returns, annualised) 21.20% vs 17.40%; Sharpe ratio 0.50 vs 0.18; Sortino ratio 0.79 vs 0.26; maximum drawdown −49.06% vs −48.26%; beta 0.93 vs 0.78.
How much do DSP Small Cap and HDFC Small Cap overlap?
By weight, 11.6% of the two portfolios is invested in the same companies; 14 stocks are held by both, the largest shared positions being eClerx Services Limited, Suprajit Engineering Ltd., Dodla Dairy Ltd.. Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of DSP Small Cap and HDFC Small Cap?
DSP Small Cap: large cap 0.0%, mid cap 7.1%, small cap 80.9%. HDFC Small Cap: large cap 6.5%, mid cap 9.2%, small cap 74.1% (share of the fund's assets, from its latest disclosed portfolio).
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
DSP 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 5 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.