HSBC Small Cap Fund vs ITI Small Cap Fund
HSBC Small Cap Fund and ITI Small Cap Fund are both Small Cap funds. As of 6 Nov 2026 (Direct plan, Growth option): 3-year CAGR +12.81% vs +21.63%, 5-year CAGR — vs +17.04%, volatility 21.98% vs 19.65%, maximum drawdown −27.16% vs −39.86%. Their portfolios overlap by 34.1% (33 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
| HSBC Small Cap | ITI Small Cap | |
|---|---|---|
| Fund house | HSBC Mutual Fund | ITI Mutual Fund |
| Compared as | Small Cap | Small Cap |
| NAV | ₹97.8183 | ₹36.8950 |
| NAV date | 6 Nov 2026 | 6 Nov 2026 |
| Launched (first NAV) | 28 Nov 2022 | 19 Feb 2020 |
| Track record | 3.9 yrs | 6.7 yrs |
| Fund size (AUM) | ₹18,513 Cr | ₹3,666 Cr |
| Securities held | 108 | 86 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| HSBC Small Cap | ITI Small Cap | |
|---|---|---|
| 1 month | −3.33% | −2.82% |
| 3 months | −2.09% | −2.05% |
| 6 months | +4.38% | +8.44% |
| 1 year | +9.40% | +15.98% |
| 3 years (CAGR) | +12.81% | +21.63% |
| 5 years (CAGR) | — | +17.04% |
| 7 years (CAGR) | — | — |
| 10 years (CAGR) | — | — |
| Since launch (CAGR) | +17.52% | +21.47% |
| SIP return (XIRR, 5 years) ⓘ | — | +21.16% |
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
| HSBC Small Cap | ITI Small Cap | |
|---|---|---|
| 2026 (year to date) | +11.82% | +17.65% |
| 2025 | −10.63% | −2.54% |
| 2024 | +29.82% | +36.28% |
| 2023 | +47.56% | +54.63% |
| 2022 | — | −2.37% |
| 2021 | — | +34.93% |
Risk
| HSBC Small Cap | ITI Small Cap | |
|---|---|---|
| Volatility (annualised) ⓘ | 21.98% | 19.65% |
| Downside volatility ⓘ | 14.66% | 12.07% |
| Sharpe ratio ⓘ | 0.29 | 0.77 |
| Sortino ratio ⓘ | 0.43 | 1.25 |
| Maximum drawdown ⓘ | −27.16% | −39.86% |
| Recovery from that fall | 18 months | 5 months |
| Current fall from peak | −6.45% | −6.14% |
| Rolling 1-year return: worst | −15.64% | −19.05% |
| Rolling 1-year return: median | +9.33% | +19.37% |
| Rolling 1-year return: best | +59.76% | +113.91% |
| Share of 1-year periods with a loss | 27.27% | 18.12% |
Against each fund's benchmark
| HSBC Small Cap | ITI Small Cap | |
|---|---|---|
| Beta ⓘ | 0.99 | 0.89 |
| Alpha (Jensen's, annualised) ⓘ | −1.86% | +7.39% |
| R² ⓘ | 92.73 | 91.25 |
| Upside capture | 96.48% | 100.76% |
| Downside capture | 103.23% | 71.24% |
| Tracking error | 6.06% | 6.50% |
| Information ratio | -0.39 | 1.20 |
| Treynor ratio | 5.39 | 17.40 |
Portfolio
Asset mix
| HSBC Small Cap | ITI Small Cap | |
|---|---|---|
| Equity | 99.21% | 94.74% |
| Cash & equivalents | 0.79% | 5.01% |
| Mutual Fund Units | 0.00% | 0.25% |
Market-cap split (share of fund assets)
| HSBC Small Cap | ITI Small Cap | |
|---|---|---|
| Large Cap | 1.28% | 7.27% |
| Mid Cap | 21.53% | 20.05% |
| Small Cap | 73.60% | 62.51% |
| Unclassified | 2.80% | 4.91% |
Concentration
| HSBC Small Cap | ITI Small Cap | |
|---|---|---|
| Top 10 holdings | 20.65% | 21.78% |
| Effective number of stocks ⓘ | 79.1 | 76.2 |
| Securities held | 108 | 86 |
Portfolio overlap: 34.1%
33 companies are held by both funds; by weight, 34.1% of the two portfolios is the same. That is a moderate overlap.
| Held by both | HSBC Small Cap | ITI Small Cap |
|---|---|---|
| Karur Vysya Bank Limited | 2.04% | 1.93% |
| Radico Khaitan Limited | 1.85% | 1.73% |
| Apar Industries Limited | 2.66% | 1.68% |
| Sai Life Sciences Limited | 2.21% | 1.60% |
| Neuland Laboratories Limited | 1.86% | 1.57% |
| Navin Fluorine International Limited | 1.88% | 1.53% |
| Laurus Labs Limited | 1.37% | 2.36% |
| PTC Industries Ltd | 1.36% | 1.48% |
| Wockhardt Ltd. | 1.35% | 1.90% |
| Jyoti CNC Automation Ltd | 1.33% | 1.32% |
| Multi Commodity Exchange of India Limited | 1.32% | 1.88% |
| Ather Energy Limited | 1.85% | 1.30% |
| Aster DM Quality Care Limited | 1.43% | 1.25% |
| RBL Bank Limited | 1.21% | 1.17% |
| Craftsman Automation Limited | 1.53% | 1.16% |
Top 10 holdings
HSBC Small Cap
- Apar Industries Limited2.66%
- Sai Life Sciences Limited2.21%
- Engineers India Ltd.2.18%
- Karur Vysya Bank Limited2.04%
- Welspun Living Limited1.98%
- PNB Housing Finance Limited1.96%
- Vijaya Diagnostic Centre Limited1.94%
- The Federal Bank Limited1.94%
- Navin Fluorine International Limited1.88%
- Neuland Laboratories Limited1.86%
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
| HSBC Small Cap | ITI Small Cap | |
|---|---|---|
| Industrial Products | 13.36% | 9.82% |
| Pharmaceuticals & Biotechnology | 9.51% | 12.13% |
| Auto Components | 6.25% | 8.56% |
| Banks | 7.57% | 7.75% |
| Electrical Equipment | 6.37% | 7.38% |
| Capital Markets | 6.44% | 4.82% |
| Finance | 6.00% | 3.63% |
| Textiles & Apparels | 5.34% | 1.50% |
| Healthcare Services | 4.90% | 2.15% |
| Consumer Durables | 4.70% | 3.99% |
| Chemicals & Petrochemicals | 3.78% | 3.92% |
| Retailing | 1.46% | 3.86% |
| Industrial Manufacturing | 2.65% | 3.59% |
| Construction | 3.16% | 0.87% |
Questions people ask
What is the difference between HSBC Small Cap and ITI Small Cap returns?
As of 6 Nov 2026, Direct plan Growth option: 1-year return +9.40% vs +15.98%; 3-year CAGR +12.81% vs +21.63%; 5-year CAGR — vs +17.04%; 10-year CAGR — vs —. Past returns do not indicate future returns.
How do HSBC Small Cap and ITI Small Cap compare on risk?
Volatility (36 monthly returns, annualised) 21.98% vs 19.65%; Sharpe ratio 0.29 vs 0.77; Sortino ratio 0.43 vs 1.25; maximum drawdown −27.16% vs −39.86%; beta 0.99 vs 0.89.
How much do HSBC Small Cap and ITI Small Cap overlap?
By weight, 34.1% of the two portfolios is invested in the same companies; 33 stocks are held by both, the largest shared positions being Karur Vysya Bank Limited, Radico Khaitan Limited, Apar Industries Limited. Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of HSBC Small Cap and ITI Small Cap?
HSBC Small Cap: large cap 1.3%, mid cap 21.5%, small cap 73.6%. 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.
More comparisons
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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 6 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.