Best Small Cap Mutual Funds (by 3-Year Return)
Updated November 2026 · 20 active funds · data from AMFI NAVs
Small-cap funds (at least 65% in companies ranked below 250 by market cap) ranked by 3-year CAGR from AMFI NAVs. Small-caps have historically produced the highest highs and the deepest drawdowns of any equity category - the maximum-drawdown column here is essential reading. A top rank reflects a strong recent run, not suitability or safety.
| # | Scheme | 1Y | 3Y | 5Y | Sharpe | Max DD | TER | AUM |
|---|---|---|---|---|---|---|---|---|
| 1 | BANDHAN SMALL CAP FUND Bandhan | +9.25% | +22.78% | +19.14% | 0.81 | -24.3% | 0.67% | ₹19.9K Cr |
| 2 | ITI Small Cap Fund ITI | +18.13% | +21.84% | +17.08% | 0.70 | -29.2% | 0.75% | ₹2.7K Cr |
| 3 | Invesco India Smallcap Fund Invesco | +19.07% | +21.55% | +19.36% | 0.86 | -23.4% | 0.46% | ₹9.4K Cr |
| 4 | BANK OF INDIA Small Cap Fund Bank of India | +25.34% | +19.28% | +18.54% | 0.78 | -27.1% | 0.61% | ₹1.9K Cr |
| 5 | Mahindra Manulife Small Cap Fund Mahindra Manulife | +15.84% | +19.04% | - | 0.86 | -26.0% | 0.74% | ₹4.0K Cr |
| 6 | LIC MF Small Cap Fund LIC | +17.49% | +17.65% | - | 0.47 | -27.0% | 2.42% | ₹593 Cr |
| 7 | quant Small Cap Fund quant | +11.32% | +16.70% | +17.10% | 0.78 | -25.2% | 1.23% | ₹27.7K Cr |
| 8 | DSP Small Cap Fund DSP | +14.41% | +16.15% | +15.98% | 0.69 | -24.1% | 0.83% | ₹16.4K Cr |
| 9 | PGIM India Small Cap Fund PGIM India | +13.13% | +15.49% | +11.76% | 0.38 | -24.6% | 0.87% | ₹1.5K Cr |
| 10 | Union Small Cap Fund Union | +18.57% | +15.47% | +16.22% | 0.70 | -26.2% | 1.83% | ₹1.7K Cr |
| 11 | Aditya Birla Sun Life Small Cap Fund Aditya Birla Sun Life | +14.86% | +14.98% | +13.05% | 0.52 | -26.2% | - | ₹4.8K Cr |
| 12 | Sundaram Small Cap Fund Sundaram | +8.93% | +14.52% | +14.48% | 0.67 | -23.8% | 1.07% | ₹3.3K Cr |
| 13 | Axis Small Cap Fund Axis | +8.05% | +14.16% | +14.66% | 0.73 | -19.4% | 0.66% | ₹25.6K Cr |
| 14 | Edelweiss Small Cap Fund Edelweiss | +7.12% | +13.99% | +15.32% | 0.71 | -22.9% | 0.72% | ₹5.4K Cr |
| 15 | Nippon India Small Cap Fund Nippon India | +7.29% | +13.88% | +17.10% | 0.78 | -24.2% | 0.65% | ₹66.1K Cr |
| 16 | HSBC Small Cap Fund HSBC | +12.41% | +13.29% | - | 0.50 | -27.2% | 0.76% | ₹15.1K Cr |
| 17 | Baroda BNP Paribas Small Cap Fund Baroda BNP Paribas | +8.89% | +12.91% | - | 0.20 | -25.0% | 1.48% | ₹1.2K Cr |
| 18 | UTI Small Cap Fund UTI | +3.84% | +12.58% | +13.20% | 0.61 | -22.3% | 0.76% | ₹4.5K Cr |
| 19 | Kotak - Small Cap Fund Kotak Mahindra | +6.06% | +11.70% | +10.98% | 0.52 | -24.7% | - | ₹16.5K Cr |
| 20 | SBI Small Cap Fund SBI | +6.08% | +11.44% | +11.97% | 0.55 | -22.4% | 0.81% | ₹34.5K Cr |
Ranked by 3-Year CAGR (highest first), on funds with that metric available. Returns, Sharpe, drawdown and TER are computed independently from AMFI NAVs - see methodology. No paid placement.