HDFC Small Cap Fund vs ITI Small Cap Fund
HDFC Small Cap Fund and ITI Small Cap Fund are both Small Cap funds. As of 5 Nov 2026 (Direct plan, Growth option): 3-year CAGR +9.65% vs +22.57%, 5-year CAGR +13.32% vs +17.33%, volatility 17.40% vs 19.67%, maximum drawdown −48.26% vs −39.86%. Their portfolios overlap by 7.7% (7 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
| HDFC Small Cap | ITI Small Cap | |
|---|---|---|
| Fund house | HDFC Mutual Fund | ITI Mutual Fund |
| Compared as | Small Cap | Small Cap |
| NAV | ₹153.3860 | ₹37.3249 |
| NAV date | 5 Nov 2026 | 5 Nov 2026 |
| Launched (first NAV) | 30 Jun 2014 | 19 Feb 2020 |
| Track record | 12.4 yrs | 6.7 yrs |
| Fund size (AUM) | ₹40,801 Cr | ₹3,666 Cr |
| Securities held | 85 | 86 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| HDFC Small Cap | ITI Small Cap | |
|---|---|---|
| 1 month | −1.75% | −1.69% |
| 3 months | −6.47% | −1.04% |
| 6 months | −1.50% | +9.49% |
| 1 year | −6.68% | +15.33% |
| 3 years (CAGR) | +9.65% | +22.57% |
| 5 years (CAGR) | +13.32% | +17.33% |
| 7 years (CAGR) | +20.22% | — |
| 10 years (CAGR) | +17.30% | — |
| Since launch (CAGR) | +17.34% | +21.69% |
| SIP return (XIRR, 5 years) ⓘ | +10.95% | +21.65% |
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
| HDFC Small Cap | ITI Small Cap | |
|---|---|---|
| 2026 (year to date) | −2.86% | +19.02% |
| 2025 | +0.25% | −2.54% |
| 2024 | +21.54% | +36.28% |
| 2023 | +46.17% | +54.63% |
| 2022 | +5.64% | −2.37% |
| 2021 | +66.49% | +34.93% |
Risk
| HDFC Small Cap | ITI Small Cap | |
|---|---|---|
| Volatility (annualised) ⓘ | 17.40% | 19.67% |
| Downside volatility ⓘ | 12.14% | 12.07% |
| Sharpe ratio ⓘ | 0.18 | 0.82 |
| Sortino ratio ⓘ | 0.26 | 1.34 |
| Maximum drawdown ⓘ | −48.26% | −39.86% |
| Recovery from that fall | 9 months | 5 months |
| Current fall from peak | −7.53% | −5.04% |
| Rolling 1-year return: worst | −43.19% | −19.05% |
| Rolling 1-year return: median | +12.40% | +19.37% |
| Rolling 1-year return: best | +126.35% | +113.91% |
| Share of 1-year periods with a loss | 23.23% | 18.12% |
Against each fund's benchmark
| HDFC Small Cap | ITI Small Cap | |
|---|---|---|
| Beta ⓘ | 0.78 | 0.89 |
| Alpha (Jensen's, annualised) ⓘ | −3.52% | +7.39% |
| R² ⓘ | 92.20 | 91.25 |
| Upside capture | 75.44% | 100.76% |
| Downside capture | 83.29% | 71.24% |
| Tracking error | 6.89% | 6.50% |
| Information ratio | -0.76 | 1.20 |
| Treynor ratio | 3.10 | 17.40 |
Portfolio
Asset mix
| HDFC Small Cap | ITI Small Cap | |
|---|---|---|
| Equity | 90.07% | 94.74% |
| Cash & equivalents | 9.93% | 5.01% |
| Mutual Fund Units | 0.00% | 0.25% |
Market-cap split (share of fund assets)
| HDFC Small Cap | ITI Small Cap | |
|---|---|---|
| Large Cap | 6.49% | 7.27% |
| Mid Cap | 9.19% | 20.05% |
| Small Cap | 74.13% | 62.51% |
| Unclassified | 0.26% | 4.91% |
Concentration
| HDFC Small Cap | ITI Small Cap | |
|---|---|---|
| Top 10 holdings | 25.37% | 21.78% |
| Effective number of stocks ⓘ | 71.3 | 76.2 |
| Securities held | 85 | 86 |
Portfolio overlap: 7.7%
7 companies are held by both funds; by weight, 7.7% of the two portfolios is the same. That is a low overlap: the two portfolios are largely different.
| Held by both | HDFC Small Cap | ITI Small Cap |
|---|---|---|
| Apar Industries Limited | 1.92% | 1.68% |
| Aster DM Quality Care Limited | 3.37% | 1.25% |
| Gabriel India Ltd. | 3.09% | 1.05% |
| The Federal Bank Limited | 1.61% | 1.04% |
| City Union Bank Limited | 1.48% | 0.95% |
| Krishna Institute Of Medical Sciences Limited | 2.04% | 0.90% |
| Home First Finance Company India Limited | 1.76% | 0.79% |
Top 10 holdings
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%
ITI Small Cap
- Acutaas Chemicals Limited3.55%
- Welspun Corp Limited2.89%
- Laurus Labs Limited2.36%
- VA Tech Wabag Limited1.98%
- Karur Vysya Bank Limited1.93%
- Wockhardt Ltd.1.90%
- Multi Commodity Exchange of India Limited1.88%
- Cartrade Tech Limited1.79%
- GNG Electronics Limited1.77%
- Radico Khaitan Limited1.73%
Sector exposure
| HDFC Small Cap | ITI Small Cap | |
|---|---|---|
| Pharmaceuticals & Biotechnology | 2.55% | 12.13% |
| Auto Components | 11.83% | 8.56% |
| Industrial Products | 3.91% | 9.82% |
| Banks | 8.80% | 7.75% |
| Commercial Services & Supplies | 8.35% | 1.66% |
| Healthcare Services | 8.24% | 2.15% |
| Electrical Equipment | 2.95% | 7.38% |
| Transport Services | 5.43% | 2.49% |
| Capital Markets | 1.01% | 4.82% |
| Consumer Durables | 4.39% | 3.99% |
| Construction | 4.09% | 0.87% |
| Chemicals & Petrochemicals | 1.71% | 3.92% |
| Retailing | 3.86% | 3.86% |
| Finance | 2.48% | 3.63% |
Questions people ask
What is the difference between HDFC Small Cap and ITI Small Cap returns?
As of 5 Nov 2026, Direct plan Growth option: 1-year return −6.68% vs +15.33%; 3-year CAGR +9.65% vs +22.57%; 5-year CAGR +13.32% vs +17.33%; 10-year CAGR +17.30% vs —. Past returns do not indicate future returns.
How do HDFC Small Cap and ITI Small Cap compare on risk?
Volatility (36 monthly returns, annualised) 17.40% vs 19.67%; Sharpe ratio 0.18 vs 0.82; Sortino ratio 0.26 vs 1.34; maximum drawdown −48.26% vs −39.86%; beta 0.78 vs 0.89.
How much do HDFC Small Cap and ITI Small Cap overlap?
By weight, 7.7% of the two portfolios is invested in the same companies; 7 stocks are held by both, the largest shared positions being Apar Industries Limited, Aster DM Quality Care Limited, Gabriel India Ltd.. Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of HDFC Small Cap and ITI Small Cap?
HDFC Small Cap: large cap 6.5%, mid cap 9.2%, small cap 74.1%. ITI Small Cap: large cap 7.3%, mid cap 20.1%, small cap 62.5% (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.
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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.