ICICI Prudential Small Cap Fund vs Nippon India Small Cap Fund
ICICI Prudential Small Cap Fund and Nippon India Small Cap Fund are both Small Cap funds. As of 5 Nov 2026 (Direct plan, Growth option): 3-year CAGR +10.79% vs +13.84%, 5-year CAGR +12.42% vs +17.50%, volatility 18.03% vs 19.31%, maximum drawdown −45.12% vs −48.58%. Their portfolios overlap by 12.7% (47 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
| ICICI Prudential Small Cap | Nippon India Small Cap | |
|---|---|---|
| Fund house | ICICI Prudential Mutual Fund | Nippon India Mutual Fund |
| Compared as | Small Cap | Small Cap |
| NAV | ₹100.2300 | ₹200.7364 |
| NAV date | 5 Nov 2026 | 5 Nov 2026 |
| Launched (first NAV) | 3 Jan 2013 | 2 Jan 2013 |
| Track record | 13.8 yrs | 13.8 yrs |
| Fund size (AUM) | ₹9,791 Cr | ₹80,906 Cr |
| Securities held | 119 | 256 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| ICICI Prudential Small Cap | Nippon India Small Cap | |
|---|---|---|
| 1 month | −2.88% | −2.62% |
| 3 months | −3.19% | −3.53% |
| 6 months | +1.70% | +1.05% |
| 1 year | +1.58% | +4.14% |
| 3 years (CAGR) | +10.79% | +13.84% |
| 5 years (CAGR) | +12.42% | +17.50% |
| 7 years (CAGR) | +21.09% | +25.45% |
| 10 years (CAGR) | +16.16% | +20.25% |
| Since launch (CAGR) | +16.31% | +23.34% |
| SIP return (XIRR, 5 years) ⓘ | +11.15% | +15.11% |
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
| ICICI Prudential Small Cap | Nippon India Small Cap | |
|---|---|---|
| 2026 (year to date) | +3.43% | +7.33% |
| 2025 | +0.65% | −4.02% |
| 2024 | +16.89% | +27.06% |
| 2023 | +39.47% | +50.17% |
| 2022 | +7.17% | +7.53% |
| 2021 | +63.29% | +75.87% |
Risk
| ICICI Prudential Small Cap | Nippon India Small Cap | |
|---|---|---|
| Volatility (annualised) ⓘ | 18.03% | 19.31% |
| Downside volatility ⓘ | 12.41% | 12.50% |
| Sharpe ratio ⓘ | 0.24 | 0.38 |
| Sortino ratio ⓘ | 0.35 | 0.59 |
| Maximum drawdown ⓘ | −45.12% | −48.58% |
| Recovery from that fall | 8 months | 9 months |
| Current fall from peak | −4.25% | −4.90% |
| Rolling 1-year return: worst | −30.96% | −35.65% |
| Rolling 1-year return: median | +13.69% | +19.42% |
| Rolling 1-year return: best | +132.47% | +153.67% |
| Share of 1-year periods with a loss | 19.87% | 18.26% |
Against each fund's benchmark
| ICICI Prudential Small Cap | Nippon India Small Cap | |
|---|---|---|
| Beta ⓘ | 0.79 | 0.87 |
| Alpha (Jensen's, annualised) ⓘ | −2.83% | −0.38% |
| R² ⓘ | 88.52 | 94.12 |
| Upside capture | 75.95% | 87.82% |
| Downside capture | 80.73% | 86.07% |
| Tracking error | 7.76% | 5.53% |
| Information ratio | -0.59 | -0.22 |
| Treynor ratio | 3.98 | 7.38 |
Portfolio
Asset mix
| ICICI Prudential Small Cap | Nippon India Small Cap | |
|---|---|---|
| Equity | 96.60% | 97.38% |
| Cash & equivalents | 3.34% | 2.62% |
| Debt | 0.05% | 0.00% |
Market-cap split (share of fund assets)
| ICICI Prudential Small Cap | Nippon India Small Cap | |
|---|---|---|
| Large Cap | 2.32% | 14.31% |
| Mid Cap | 1.48% | 13.05% |
| Small Cap | 85.01% | 66.57% |
| Unclassified | 7.79% | 3.45% |
Concentration
| ICICI Prudential Small Cap | Nippon India Small Cap | |
|---|---|---|
| Top 10 holdings | 21.02% | 14.54% |
| Effective number of stocks ⓘ | 83.8 | 156.7 |
| Securities held | 119 | 256 |
Portfolio overlap: 12.7%
47 companies are held by both funds; by weight, 12.7% of the two portfolios is the same. That is a low overlap: the two portfolios are largely different.
| Held by both | ICICI Prudential Small Cap | Nippon India Small Cap |
|---|---|---|
| PNB Housing Finance Limited | 0.74% | 0.66% |
| Kirloskar Oil Engines Limited | 0.65% | 0.97% |
| Carborundum Universal Ltd. | 1.21% | 0.63% |
| Pfizer Limited | 1.41% | 0.58% |
| Krishna Institute Of Medical Sciences Limited | 1.35% | 0.56% |
| Timken India Ltd. | 1.78% | 0.54% |
| Aditya Birla Sun Life AMC Limited | 0.88% | 0.52% |
| Shadowfax Technologies Limited | 3.79% | 0.47% |
| Grindwell Norton Ltd. | 1.32% | 0.45% |
| Galaxy Surfactants Ltd. | 0.72% | 0.45% |
| ICRA Limited | 0.67% | 0.42% |
| Syngene International Limited | 0.40% | 0.60% |
| Aarti Industries Ltd. | 0.49% | 0.33% |
| Dr. Lal Path Labs Limited | 0.97% | 0.32% |
| Orient Electric Ltd. | 0.31% | 0.37% |
Top 10 holdings
ICICI Prudential Small Cap
- Shadowfax Technologies Limited3.79%
- Sedemac Mechatronics Limited2.82%
- Atul Ltd.2.11%
- Travel Food Services Limited2.07%
- R R Kabel Limited1.86%
- Timken India Ltd.1.78%
- LIC Housing Finance Limited1.72%
- Minda Corporation Limited1.66%
- ZF Commercial Vehicle Control Systems India Limited1.63%
- Pondy Oxides & Chemicals Ltd1.58%
Nippon India Small Cap
- TD Power Systems Limited1.88%
- Bharat Heavy Electricals Limited1.77%
- HDFC Bank Limited1.75%
- Apar Industries Limited1.74%
- Acme Solar Holdings Ltd1.33%
- Karur Vysya Bank Limited1.28%
- Sai Life Sciences Limited1.24%
- Sundram Fasteners Ltd.1.20%
- State Bank of India1.19%
- Elantas Beck India Limited1.16%
Sector exposure
| ICICI Prudential Small Cap | Nippon India Small Cap | |
|---|---|---|
| Auto Components | 12.24% | 7.68% |
| Industrial Products | 10.40% | 6.84% |
| Electrical Equipment | 2.55% | 9.52% |
| Capital Markets | 7.67% | 4.03% |
| Banks | 0.79% | 7.62% |
| Chemicals & Petrochemicals | 7.58% | 4.99% |
| Finance | 6.62% | 4.03% |
| Pharmaceuticals & Biotechnology | 5.31% | 5.44% |
| Consumer Durables | 3.94% | 5.44% |
| Healthcare Services | 5.03% | 3.61% |
| Transport Services | 4.12% | 1.27% |
| Leisure Services | 3.59% | 2.30% |
| Power | 0.00% | 3.44% |
| Industrial Manufacturing | 3.36% | 1.84% |
Questions people ask
What is the difference between ICICI Prudential Small Cap and Nippon India Small Cap returns?
As of 5 Nov 2026, Direct plan Growth option: 1-year return +1.58% vs +4.14%; 3-year CAGR +10.79% vs +13.84%; 5-year CAGR +12.42% vs +17.50%; 10-year CAGR +16.16% vs +20.25%. Past returns do not indicate future returns.
How do ICICI Prudential Small Cap and Nippon India Small Cap compare on risk?
Volatility (36 monthly returns, annualised) 18.03% vs 19.31%; Sharpe ratio 0.24 vs 0.38; Sortino ratio 0.35 vs 0.59; maximum drawdown −45.12% vs −48.58%; beta 0.79 vs 0.87.
How much do ICICI Prudential Small Cap and Nippon India Small Cap overlap?
By weight, 12.7% of the two portfolios is invested in the same companies; 47 stocks are held by both, the largest shared positions being PNB Housing Finance Limited, Kirloskar Oil Engines Limited, Carborundum Universal Ltd.. Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of ICICI Prudential Small Cap and Nippon India Small Cap?
ICICI Prudential Small Cap: large cap 2.3%, mid cap 1.5%, small cap 85.0%. Nippon India Small Cap: large cap 14.3%, mid cap 13.1%, small cap 66.6% (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
ICICI Prudential 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.