Bandhan Small Cap Fund vs Nippon India Small Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Bandhan Small Cap Fund and Nippon India Small Cap Fund are both Small Cap funds. In the 3 years to 30-10-2026, Bandhan Small Cap Fund (Direct) returned 21.7% a year and Nippon India Small Cap Fund (Direct) returned 13.0% a year. Bandhan Small Cap Fund charges 0.65% a year and Nippon India Small Cap Fund 0.69% (Direct plans). Their portfolios overlap 16.0%: they hold 70 of the same securities.
Bandhan Small Cap Fund
Small Cap
- 3 year return
- 21.7%
- Expense ratio
- 0.65%
- NAV
- ₹53.23
Nippon India Small Cap Fund
Small Cap
- 3 year return
- 13.0%
- Expense ratio
- 0.69%
- NAV
- ₹192.76
Which is better, Bandhan Small Cap or Nippon India Small Cap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Bandhan Small Cap returned more over 5 years: 18.1% a year against 17.1%.
- Bandhan Small Cap returned more over 3 years: 21.7% a year against 13.0%.
- Bandhan Small Cap costs less: 0.65% a year against 0.69% (Direct plans).
- Nippon India Small Cap swung less over 3 years: a standard deviation of 16.5% a year against 17.4%.
- Bandhan Small Cap fell less in its worst fall since 26-02-2020: −24.3% against −38.8%.
- Nippon India Small Cap is the larger fund: ₹80,906 Cr against ₹34,176 Cr.
- Their portfolios overlap 16.0%: 70 of the same holdings.
Past returns do not promise future returns. This page is information, not investment advice.
Key facts
From each fund's scheme summary document and AMFI
| Fact | Bandhan Small Cap Fund | Nippon India Small Cap Fund |
|---|---|---|
| Fund house | Bandhan Mutual Fund | Nippon India Mutual Fund |
| Category | Small Cap | Small Cap |
| AUM | ₹34,176 Cr (31-08-2026) | ₹80,906 Cr (30-09-2026) |
| NAV | ₹53.23 (Direct) | ₹192.76 (Direct) |
| Expense ratio (Direct) | 0.65% | 0.69% |
| Expense ratio (Regular) | 1.73% | 1.41% |
| Riskometer | Very High | Very High |
| Benchmark | BSE 250 Smallcap TRI | Nifty Smallcap 250 TRI |
| Launch date | 25-02-2020 | 16-09-2010 |
| Minimum investment | ₹1,000 | Not available |
| Lock in | None | None |
| Fund managers | Manish Gunwani, Kirthi Jain, Ritika Behera, Gaurav Satra | Samir Rachh |
| Exit load | 1% if redeemed/switched out within 1 year from the date of allotment | Exit load of 1% if redeemed within 1 year. |
Bandhan Small Cap vs Nippon India Small Cap: Returns Comparison
Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.
| Fund | 1M | 3M | 6M | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|---|---|---|
| Bandhan Small Cap Fund (Direct) | −6.09% | −4.37% | +2.04% | +0.99% | +21.67% | +18.08% | -- |
| Nippon India Small Cap Fund (Direct) | −5.79% | −4.50% | +0.35% | −0.23% | +12.97% | +17.08% | +19.26% |
| Small Cap average | −5.86% | −3.28% | +5.03% | +3.00% | +14.03% | +14.51% | +16.19% |
Category average: the average of the 36 Small Cap funds, same plan type.
Bandhan Small Cap vs Nippon India Small Cap: Year-wise Returns
| Year | BandhanBandhan Small Cap | Nippon IndiaNippon India Small Cap |
|---|---|---|
| 2026to date | +4.61% | +3.07% |
| 2025 | +0.12% | −4.02% |
| 2024 | +45.18% | +27.06% |
| 2023 | +55.85% | +50.17% |
| 2022 | −4.58% | +7.53% |
| 2021 | +55.38% | +75.87% |
Bandhan Small Cap vs Nippon India Small Cap: Rolling Returns
Every holding period of both funds, against BSE 250 SmallCap Index TRI, the benchmark of Bandhan Small Cap Fund
Rolling returns
Every 3-year holding period, 911 of them, one for each trading day from 27-02-2023 to 30-10-2026: the yearly return (CAGR) of each, plotted on the day it ended. One lucky or unlucky start day cannot flatter or hide a fund.
Bandhan Small Cap Fund (Direct)
Nippon India Small Cap Fund (Direct)
BSE 250 SmallCap Index TRI
to
Jun 2023Jan 2021
to
Jan 2024Sept 2021
to
Sept 2024Apr 2022
to
Apr 2025Dec 2022
to
Dec 2025Jul 2023
to
Jul 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Bandhan Small Cap | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 4.4 | 95.6 | 31.0% | 31.3% | 21.4% | 38.6% | 79% |
| Nippon India Small Cap | 0.0 | 0.0 | 0.0 | 3.0 | 10.6 | 27.9 | 58.4 | 30.7% | 29.8% | 12.3% | 54.5% | 100% |
| BSE 250 SmallCap Index TRI | 0.0 | 0.0 | 0.1 | 4.7 | 24.5 | 23.1 | 47.6 | 25.5% | 24.4% | 9.9% | 45.1% | -- |
The table shows the % of periods in each return band; a darker cell holds more of them. Lumpsum: the yearly rate (CAGR) from a period's first NAV to its last. SIP: the XIRR of the monthly instalments. The benchmark is BSE 250 SmallCap Index TRI, over the same periods. "Beat benchmark" counts the periods in which the fund did better. Every fund is measured over the days all of them have, from 26-02-2020. Past returns do not promise future returns.
Bandhan Small Cap vs Nippon India Small Cap: SIP and Lumpsum Returns
What the same monthly or one-time investment would be worth in each fund today, from their own NAV history
Growth of an investment
₹10,000 on the first trading day of every month, from 26-02-2020 to 30-10-2026: 81 instalments, ₹8,10,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Bandhan Small CapBandhan Small Cap Fund (Direct) | ₹8,10,000 | ₹18,10,455 | ₹10,00,455 | 23.5% |
| Nippon India Small CapNippon India Small Cap Fund (Direct) | ₹8,10,000 | ₹16,65,320 | ₹8,55,320 | 21.1% |
Bandhan Small CapBandhan Small Cap Fund (Direct)
Nippon India Small CapNippon India Small Cap Fund (Direct)
Amount invested
From each plan's published NAV (Growth option), over the same days. Return a year: XIRR for a SIP, CAGR for a lumpsum, shown for a year or more. It does not include exit load, stamp duty or tax. Past returns do not promise future returns.
Bandhan Small Cap vs Nippon India Small Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Bandhan Small Cap Fund (Direct) | Nippon India Small Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +0.99% | −0.23% |
| Standard deviation | 16.37% | 16.03% |
| Sharpe ratio | -0.26 | -0.34 |
| Sortino ratio | -0.36 | -0.46 |
| Maximum drawdown | −15.9% (30-03-2026) | −14.7% (31-03-2026) |
| Beta | 0.88 | 0.87 |
| Alpha | +4.94% | +1.81% |
From daily NAVs, 30-10-2025 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
| Measure | Bandhan Small Cap Fund (Direct) | Nippon India Small Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +21.67% | +12.97% |
| Standard deviation | 17.36% | 16.46% |
| Sharpe ratio | 0.90 | 0.42 |
| Sortino ratio | 1.23 | 0.56 |
| Maximum drawdown | −22.8% (03-03-2025) | −24.2% (03-03-2025) |
| Beta | 0.91 | 0.85 |
| Alpha | +11.21% | +1.59% |
From daily NAVs, 30-10-2023 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
| Measure | Bandhan Small Cap Fund (Direct) | Nippon India Small Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +18.08% | +17.08% |
| Standard deviation | 16.56% | 16.33% |
| Sharpe ratio | 0.74 | 0.69 |
| Sortino ratio | 0.99 | 0.91 |
| Maximum drawdown | −23.3% (20-06-2022) | −24.2% (03-03-2025) |
| Beta | 0.89 | 0.86 |
| Alpha | +6.60% | +4.97% |
From daily NAVs, 29-10-2021 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
| Measure | Bandhan Small Cap Fund (Direct) | Nippon India Small Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +28.47% | +23.01% |
| Standard deviation | 17.05% | 17.11% |
| Sharpe ratio | 1.37 | 0.99 |
| Sortino ratio | 1.85 | 1.32 |
| Maximum drawdown | −24.3% (20-06-2022) | −48.6% (24-03-2020) |
| Beta | 0.81 | -- |
| Alpha | +11.47% | -- |
From daily NAVs, 26-02-2020 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
Drawdowns
How far below its previous high each one was on every day: the falls an investor had to sit through. 0% means it was at a new high.
Bandhan Small Cap Fund (Direct)
Nippon India Small Cap Fund (Direct)
BSE 250 SmallCap Index TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Bandhan Small Cap Fund (Direct) | −24.3% | 18-10-2021 | 20-06-2022 | 14-06-2023 | 12 months | −8.4% |
| Nippon India Small Cap Fund (Direct) | −38.8% | 26-02-2020 | 24-03-2020 | 21-08-2020 | 5 months | −8.7% |
| BSE 250 SmallCap Index TRI | −41.0% | 26-02-2020 | 24-03-2020 | 25-08-2020 | 5 months | −11.5% |
From daily values since 26-02-2020, the first day every fund has.
Rolling standard deviation
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 1-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Bandhan Small Cap Fund (Direct)
Nippon India Small Cap Fund (Direct)
BSE 250 SmallCap Index TRI
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 3-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Bandhan Small Cap Fund (Direct)
Nippon India Small Cap Fund (Direct)
BSE 250 SmallCap Index TRI
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 5-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Bandhan Small Cap Fund (Direct)
Nippon India Small Cap Fund (Direct)
BSE 250 SmallCap Index TRI
Against BSE 250 SmallCap Index TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Bandhan Small Cap Fund (Direct) | 96% | 67% | 10.65% |
| Nippon India Small Cap Fund (Direct) | 96% | 75% | 4.73% |
From month-end values since 26-02-2020. Up capture: a fund's average month when the benchmark rose, as % of the benchmark's; above 100% it gained more. Down capture: the same for months the benchmark fell; below 100% it fell less. Tracking error: how far the monthly returns strayed from the benchmark's, a year; an index fund aims near 0.
Bandhan Small Cap vs Nippon India Small Cap: Portfolio Overlap
From each fund's latest monthly portfolio: Bandhan Small Cap Fund, August 2026; Nippon India Small Cap Fund, September 2026
Holdings in common
- Overlap
- 16.0%
- Held by both
- 70
- Only in Bandhan Small Cap
- 185
- Only in Nippon India Small Cap
- 186
| Security | % of Bandhan Small Cap | % of Nippon India Small Cap |
|---|---|---|
| State Bank of India | 1.88% | 1.19% |
| HDFC Bank Limited | 1.03% | 1.75% |
| eClerx Services Limited | 1.09% | 0.78% |
| Paradeep Phosphates Limited | 1.38% | 0.75% |
| PNB Housing Finance Limited | 1.36% | 0.66% |
| Apar Industries Limited | 0.63% | 1.74% |
| AWL Agri Business Limited | 0.96% | 0.58% |
| Kotak Mahindra Bank Limited | 0.46% | 0.67% |
| REC Limited | 2.42% | 0.43% |
| Kirloskar Oil Engines Limited | 0.42% | 0.97% |
| Crompton Greaves Consumer Electricals Limited | 0.76% | 0.39% |
| Cyient Limited | 1.66% | 0.38% |
| Axis Bank Limited | 0.38% | 0.91% |
| Aditya Birla Sun Life AMC Limited | 0.35% | 0.52% |
| Power Finance Corporation Limited | 0.50% | 0.30% |
| Birla Corporation Limited | 0.45% | 0.28% |
| JSW Cement Limited | 0.27% | 0.28% |
| LIC Housing Finance Limited | 0.51% | 0.26% |
| Aditya Birla Real Estate Limited | 0.92% | 0.24% |
| Acme Solar Holdings Ltd | 0.24% | 1.33% |
| Sapphire Foods India Limited | 0.24% | 0.28% |
| KFin Technologies Limited | 0.23% | 0.41% |
| Styrenix Performance Materials Limited | 0.23% | 0.28% |
| RHI Magnesita India Limited | 0.41% | 0.21% |
| Sudarshan Chemical Industries Limited | 0.21% | 0.38% |
| Sansera Engineering Limited | 0.21% | 0.47% |
| Krishna Institute Of Medical Sciences Limited | 0.20% | 0.56% |
| Max Estates Limited | 0.27% | 0.18% |
| Emami Limited | 0.16% | 0.79% |
| Computer Age Management Services Limited | 0.16% | 0.16% |
| Jyothy Labs Limited | 0.16% | 0.25% |
| Samvardhana Motherson International Limited | 0.16% | 0.34% |
| Can Fin Homes Limited | 0.25% | 0.15% |
| NTPC Green Energy Limited | 0.15% | 0.36% |
| Aarti Industries Limited | 0.15% | 0.33% |
| Just Dial Limited | 0.26% | 0.14% |
| Piramal Pharma Limited | 0.62% | 0.13% |
| UTI Asset Management Company Limited | 0.13% | 0.16% |
| Clean Science and Technology Limited | 0.13% | 0.30% |
| The Ramco Cements Limited | 0.13% | 0.53% |
| Narayana Hrudayalaya Limited | 0.13% | 0.21% |
| Landmark Cars Limited | 0.13% | 0.18% |
| Metropolis Healthcare Limited | 0.12% | 0.31% |
| Jindal Saw Limited | 0.12% | 0.26% |
| CESC Limited | 0.12% | 0.19% |
| Saatvik Green Energy Limited | 0.52% | 0.11% |
| Inox Wind Limited | 0.37% | 0.11% |
| Pine Labs Limited | 0.11% | 0.34% |
| Blue Star Limited | 0.11% | 0.38% |
| Voltamp Transformers Limited | 0.11% | 0.83% |
| Arvind Limited | 1.56% | 0.10% |
| Birlasoft Limited | 0.15% | 0.10% |
| Vedanta Aluminium Metal Limited | 0.10% | 0.36% |
| Kirloskar Ferrous Industries Limited | 0.39% | 0.09% |
| Finolex Cables Limited | 0.09% | 0.54% |
| Sanathan Textiles Limited | 0.42% | 0.08% |
| Archean Chemical Industries Limited | 0.16% | 0.08% |
| Vedant Fashions Limited | 0.10% | 0.08% |
| NLC India Limited | 0.08% | 0.89% |
| KEC International Limited | 0.16% | 0.07% |
| Orient Electric Limited | 0.07% | 0.37% |
| Exide Industries Limited | 0.07% | 0.29% |
| JK Lakshmi Cement Limited | 0.10% | 0.06% |
| AstraZeneca Pharma India Limited | 0.06% | 0.51% |
| Laser Power And Infra Limited | 0.04% | 0.06% |
| FDC Limited | 0.04% | 0.18% |
| Torrent Pharmaceuticals Limited | 0.04% | 0.30% |
| Craftsman Automation Limited | 0.03% | 0.77% |
| Kusumgar Limited | 0.04% | 0.02% |
| Bajel Projects Limited | 0.01% | 0.13% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 16.0% means 16.0% of each fund's money sits in positions the other also holds. Matched by ISIN. Cash and hedged positions are left out.
Largest holdings only in Bandhan Small Cap Fund
| Security | % of fund |
|---|---|
| Sobha Limited | 2.40% |
| LT Foods Limited | 2.10% |
| Cholamandalam Financial Holdings Limited | 1.63% |
| The South Indian Bank Limited | 1.48% |
| The Karnataka Bank Limited | 1.34% |
Largest holdings only in Nippon India Small Cap Fund
| Security | % of fund |
|---|---|
| TD Power Systems Limited | 1.88% |
| Bharat Heavy Electricals Limited | 1.77% |
| Karur Vysya Bank Limited | 1.28% |
| Sai Life Sciences Limited | 1.24% |
| Sundram Fasteners Limited | 1.20% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Bandhan Small Cap | Nippon India Small Cap |
|---|---|---|
| Equity | 86.6% | 97.4% |
| Debt | 0.0% | 0.0% |
| Cash and others | 13.4% | 2.6% |
Market cap of stocks
| Market cap | Bandhan Small Cap | Nippon India Small Cap |
|---|---|---|
| Large Cap | 6.1% | 14.3% |
| Mid Cap | 10.7% | 13.1% |
| Small Cap | 68.7% | 66.6% |
| Not on AMFI's list | 1.1% | 3.5% |
Share of the whole fund. Groups follow AMFI's latest list: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.
Largest sectors
| Sector | Bandhan Small Cap | Nippon India Small Cap |
|---|---|---|
| Finance | 9.8% | 4.0% |
| Electrical Equipment | 2.5% | 9.5% |
| Banks | 8.7% | 7.6% |
| Auto Components | 0.9% | 7.7% |
| Pharmaceuticals & Biotechnology | 6.9% | 5.4% |
| Industrial Products | 3.8% | 6.8% |
| Realty | 6.3% | 0.8% |
| Consumer Durables | 5.9% | 5.4% |
| Agricultural Food & other Products | 4.0% | 1.9% |
The six largest sectors of each fund's stocks, % of the fund.
Bandhan Small Cap vs Nippon India Small Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Bandhan Small Cap Fund | Nippon India Small Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.65% | 0.69% |
| Base expense ratio (Direct) | 0.40% | 0.53% |
| Total expense ratio (Regular) | 1.73% | 1.41% |
| Base expense ratio (Regular) | 1.32% | 1.14% |
The expense ratio comes out of the fund's assets every day, so every return on this page is already after it. Base expense ratio: the fund house's own fee. The total adds brokerage, transaction costs, and levies with GST.
More comparisons
Each fund against the others of its category
Compare Bandhan Small Cap with
Bandhan Small Cap Fund vs Nippon India Small Cap Fund: Frequently Asked Questions
What is the difference between Bandhan Small Cap Fund and Nippon India Small Cap Fund?
Both are Small Cap funds, run by Bandhan Mutual Fund and Nippon India Mutual Fund. Their portfolios overlap 16.0%. Bandhan Small Cap Fund charges 0.65% a year and Nippon India Small Cap Fund 0.69%.
Which has given higher returns, Bandhan Small Cap Fund or Nippon India Small Cap Fund?
Over 1 year: Bandhan Small Cap Fund +0.99%, Nippon India Small Cap Fund −0.23%. Over 3 years: Bandhan Small Cap Fund +21.67% a year, Nippon India Small Cap Fund +12.97% a year. Over 5 years: Bandhan Small Cap Fund +18.08% a year, Nippon India Small Cap Fund +17.08% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Bandhan Small Cap Fund or Nippon India Small Cap Fund?
Bandhan Small Cap Fund charges less: 0.65% a year against 0.69%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Bandhan Small Cap Fund and Nippon India Small Cap Fund overlap?
16.0%. They hold 70 of the same securities, the largest shared ones being SBIN, HDFCBANK, ECLERX. From each fund's latest monthly portfolio.
Which is riskier, Bandhan Small Cap Fund or Nippon India Small Cap Fund?
On SEBI's riskometer, Bandhan Small Cap Fund is rated Very High and Nippon India Small Cap Fund Very High. Over 3 years, the standard deviation of daily returns was 17.36% and 16.46% a year.
Which is better for SIP, Bandhan Small Cap Fund or Nippon India Small Cap Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹9,94,722 in Bandhan Small Cap Fund (XIRR 19.3% a year) and ₹8,66,032 in Nippon India Small Cap Fund (XIRR 13.8% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Bandhan Small Cap Fund and Nippon India Small Cap Fund?
Yes. 16.0% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Bandhan Small Cap Fund and Nippon India Small Cap Fund?
Bandhan Small Cap Fund: Manish Gunwani, Kirthi Jain, Ritika Behera, Gaurav Satra. Nippon India Small Cap Fund: Samir Rachh.
Sources: NAV and expense ratio from AMFI. Holdings from each fund house's monthly portfolio statement. Fund facts from each scheme summary document.
This page is information, not investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Past returns do not promise future returns. Figures come from AMFI, NSE, BSE and each fund house's own documents.