Best Small Cap Funds in India
30 small cap funds in India, of which 21 meet the eligibility criteria, ranked on 5Y return. What compounds over 5–10 years?
Ranked on 5-year annualised return (CAGR), because the question is a 5–10 year one. Funds younger than 5 years are listed after those with a 5-year record. Past performance does not predict future returns.
Small Cap Funds ranked by 5Y return
| # | Fund | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 | Invesco India Smallcap Fund - Direct Plan - GrowthGold | +21.17% | +18.81% | +24.49% | +28.67% | 96% | -37.7% | ₹14,522 Cr | 0.64% |
| 2 | BANK OF INDIA Small Cap Fund Direct Plan GrowthPlatinum | +20.85% | +25.99% | +23.39% | +30.06% | 78% | -32.4% | ₹2,572 Cr | 0.74% |
| 3 | BANDHAN SMALL CAP FUND - DIRECT PLAN GROWTHGold | +20.29% | +14.13% | +27.47% | +31.45% | 100% | -24.3% | ₹28,466 Cr | 0.58% |
| 4 | Nippon India Small Cap Fund - Direct Plan Growth Plan - Growth OptionBronze | +20.12% | +11.61% | +17.36% | +25.81% | 63% | -48.6% | ₹78,407 Cr | 0.70% |
| 5 | quant Small Cap Fund - Growth Option - Direct PlanBronze | +19.67% | +16.25% | +19.35% | +25.11% | 53% | -46.7% | ₹33,739 Cr | 0.94% |
| 6 | ITI Small Cap Fund - Direct Plan - Growth OptionGold | +18.94% | +20.09% | +26.18% | +26.70% | 93% | -39.9% | ₹3,322 Cr | 0.89% |
| 7 | Edelweiss Small Cap Fund - Direct Plan - GrowthBronze | +18.66% | +13.04% | +18.01% | +28.58% | 71% | -37.1% | ₹6,580 Cr | 0.65% |
| 8 | DSP Small Cap Fund - Direct Plan - GrowthSilver | +18.32% | +18.39% | +18.38% | +23.45% | 52% | -49.1% | ₹19,635 Cr | 0.81% |
| 9 | Union Small Cap Fund - Direct Plan - Growth OptionGold | +18.19% | +24.19% | +19.70% | +18.54% | 35% | -44.7% | ₹2,268 Cr | 1.13% |
| 10 | Sundaram Small Cap Fund Direct Plan - GrowthSilver | +18.09% | +19.57% | +19.25% | +21.33% | 44% | -57.1% | ₹3,872 Cr | 0.96% |
| 11 | Franklin India Small Cap Fund - Direct - Growth | +17.68% | +8.71% | +15.75% | +21.82% | 46% | -49.9% | ₹14,336 Cr | 1.06% |
| 12 | Axis Small Cap Fund - Direct Plan - GrowthSilver | +17.30% | +12.15% | +17.31% | +19.89% | 43% | -34.6% | ₹29,394 Cr | 0.77% |
| 13 | CANARA ROBECO SMALL CAP FUND - DIRECT PLAN - GROWTH OPTION | +16.96% | +9.20% | +14.68% | +29.88% | 66% | -36.2% | ₹13,967 Cr | 0.66% |
| 14 | UTI Small Cap Fund - Direct Plan - Growth Option | +16.77% | +8.80% | +16.43% | +20.75% | 42% | -22.3% | ₹5,263 Cr | 0.87% |
| 15 | HDFC Small Cap Fund - Growth Option - Direct Plan | +16.37% | +3.22% | +13.81% | +21.18% | 42% | -48.3% | ₹40,417 Cr | 0.76% |
| 16 | Tata Small Cap Fund-Direct Plan-Growth | +15.66% | +0.24% | +13.09% | +29.49% | 77% | -36.6% | ₹12,529 Cr | 0.50% |
| 17 | ICICI Prudential Smallcap Fund - Direct Plan - Growth | +15.39% | +6.88% | +13.32% | +17.97% | 33% | -45.1% | ₹9,379 Cr | 1.17% |
| 18 | SBI Small Cap Fund - Direct Plan - Growth | +15.26% | +9.88% | +13.38% | +22.61% | 50% | -40.3% | ₹40,157 Cr | 0.75% |
| 19 | PGIM India Small Cap Fund - Direct Plan- Growth OptionBronze | +14.62% | +14.97% | +17.05% | +15.92% | 0% | -24.6% | ₹1,650 Cr | 0.94% |
| 20 | Aditya Birla Sun Life Small Cap Fund - Growth - Direct PlanBronze | +14.49% | +19.67% | +16.97% | +19.40% | 32% | -57.4% | ₹5,731 Cr | 1.10% |
| 21 | Kotak-Small Cap Fund - Growth - Direct | +14.36% | +8.86% | +13.98% | +20.75% | 46% | -40.6% | ₹18,691 Cr | 0.63% |
Badges are our own quality tiers — Platinum (top 10%), Gold (25%), Silver (50%), Bronze (75%) — scored within each sub-category, so they compare a fund with its peers and not with funds of a different type. “3Y typical” is the median annualised return across every 3-year holding period the fund has lived through, not a single 3-year figure; “3Y loss odds” is the share of those periods that ended down. “Beat peers” is the share in which it beat its category's median, and “worst fall” is its deepest peak-to-trough drop. Open a fund for the full distribution. Click any numeric column to re-sort; funds with no value for that column sort last. Returns over 1 year are annualised (CAGR). Past performance does not indicate future returns. Eligibility: Direct, Growth only, minimum AUM ₹100 Cr, at least 5 year(s) old. Past performance. Returns for 3y/5y are annualised (CAGR) and are withheld where the NAV series does not support the period.
Small Cap Funds — FAQs
What horizon suits equity funds?
Equity funds are volatile over short periods, so they are generally considered for horizons of five years or more. Over shorter spans the range of outcomes is wide enough that the average return is a poor guide.
What do large, mid and small cap mean?
SEBI defines them by market-capitalisation rank: the top 100 listed companies are large cap, ranks 101–250 are mid cap, and 251 onward are small cap. Categories differ in how much they must hold in each band, which drives most of the difference in volatility.
Should I pick the fund with the highest past return?
Past return alone is a weak signal — it reflects the period measured as much as the fund. Consistency across rolling periods, behaviour in falling markets, cost, and whether the fund still follows the mandate you signed up for all matter. Past performance does not indicate future returns.