ICICI Prudential Small Cap Fund vs Kotak Nifty Smallcap 250 Index Fund
Direct Plan, Growth option · Data as on 30-10-2026
ICICI Prudential Small Cap Fund is a Small Cap fund and Kotak Nifty Smallcap 250 Index Fund is an Index fund. In the year to 30-10-2026, ICICI Prudential Small Cap Fund (Direct) returned −4.0% and Kotak Nifty Smallcap 250 Index Fund (Direct) returned −3.7%. ICICI Prudential Small Cap Fund charges 1.17% a year and Kotak Nifty Smallcap 250 Index Fund 0.46% (Direct plans). Their portfolios overlap 15.6%: they hold 40 of the same securities.
ICICI Prudential Small Cap Fund
Small Cap
- 1 year return
- −4.0%
- Expense ratio
- 1.17%
- NAV
- ₹95.70
Kotak Nifty Smallcap 250 Index Fund
Index
- 1 year return
- −3.7%
- Expense ratio
- 0.46%
- NAV
- ₹10.89
Which is better, ICICI Prudential Small Cap or Kotak Nifty Smallcap 250 Index? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Kotak Nifty Smallcap 250 Index returned more over 1 year: −3.7% against −4.0%.
- Kotak Nifty Smallcap 250 Index costs less: 0.46% a year against 1.17% (Direct plans).
- ICICI Prudential Small Cap fell less in its worst fall since 30-01-2025: −17.0% against −20.9%.
- ICICI Prudential Small Cap is the larger fund: ₹9,791 Cr against ₹87 Cr.
- Their portfolios overlap 15.6%: 40 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 | ICICI Prudential Small Cap Fund | Kotak Nifty Smallcap 250 Index Fund |
|---|---|---|
| Fund house | ICICI Prudential Mutual Fund | Kotak Mahindra Mutual Fund |
| Category | Small Cap | Index |
| AUM | ₹9,791 Cr (30-09-2026) | ₹87 Cr (30-09-2026) |
| NAV | ₹95.70 (Direct) | ₹10.89 (Direct) |
| Expense ratio (Direct) | 1.17% | 0.46% |
| Expense ratio (Regular) | 2.09% | 0.94% |
| Riskometer | Not available | Very High |
| Benchmark | Nifty Smallcap 250 TRI | NIFTY Smallcap 50 TRI |
| Launch date | 18-10-2007 | 27-01-2025 |
| Minimum investment | ₹5,000 | ₹100 |
| Lock in | None | None |
| Fund managers | Rajat Chandak, Aatur Shah, Sakshat Goel, Gaurav Jain, Sharmila D'silva | Satish Dondapati, Abhishek Bisen, Jeetu Valechha Sonar |
| Exit load | 1% of the applicable NAV - If units purchased or switched in from another scheme of the Fund are redeemed or switched out within 1 Year from the date of allotment NIL - If units purchased or switched in from another scheme of the Fund are redeemed or switched out after 1 Year from the date of allotment | Nil |
ICICI Prudential Small Cap vs Kotak Nifty Smallcap 250 Index: 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 |
|---|---|---|---|---|---|---|---|
| ICICI Prudential Small Cap Fund (Direct) | −7.25% | −5.31% | −0.20% | −3.99% | +9.50% | +11.91% | +15.23% |
| Kotak Nifty Smallcap 250 Index Fund (Direct) | −5.79% | −6.16% | +0.22% | −3.66% | -- | -- | -- |
| 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.
ICICI Prudential Small Cap vs Kotak Nifty Smallcap 250 Index: Year-wise Returns
| Year | ICICI Prudential Small CapICICI Prudential Small Cap | Kotak Nifty Smallcap 250 IndexKotak Nifty Smallcap 250 Index |
|---|---|---|
| 2026to date | −1.25% | +0.51% |
| 2025 | +0.65% | -- |
| 2024 | +16.89% | -- |
| 2023 | +39.47% | -- |
| 2022 | +7.17% | -- |
| 2021 | +63.29% | -- |
ICICI Prudential Small Cap vs Kotak Nifty Smallcap 250 Index: Rolling Returns
Every holding period of both funds, against Nifty Smallcap 250 TRI, the benchmark of ICICI Prudential Small Cap Fund
Rolling returns
Every 1-year holding period, 184 of them, one for each trading day from 30-01-2026 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.
ICICI Prudential Small Cap Fund (Direct)
Kotak Nifty Smallcap 250 Index Fund (Direct)
Nifty Smallcap 250 TRI
to
Feb 2026Apr 2025
to
Apr 2026May 2025
to
May 2026Jul 2025
to
Jul 2026Aug 2025
to
Aug 2026Oct 2025
to
Oct 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ICICI Prudential Small Cap | 11.4 | 42.4 | 34.8 | 10.3 | 1.1 | 0.0 | 0.0 | 4.6% | 4.5% | −4.1% | 15.5% | 43% |
| Kotak Nifty Smallcap 250 Index | 15.8 | 37.0 | 36.4 | 10.3 | 0.5 | 0.0 | 0.0 | 4.5% | 4.5% | −6.6% | 15.0% | 1% |
| Nifty Smallcap 250 TRI | 14.1 | 35.3 | 33.7 | 15.8 | 1.1 | 0.0 | 0.0 | 5.0% | 5.1% | −6.1% | 15.5% | -- |
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 Nifty Smallcap 250 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 30-01-2025. Past returns do not promise future returns.
ICICI Prudential Small Cap vs Kotak Nifty Smallcap 250 Index: 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 01-01-2025 to 30-10-2026: 22 instalments, ₹2,20,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| ICICI Prudential Small CapICICI Prudential Small Cap Fund (Direct) | ₹2,20,000 | ₹2,21,177 | ₹1,177 | 0.6% |
| Kotak Nifty Smallcap 250 IndexKotak Nifty Smallcap 250 Index Fund (Direct) | ₹2,20,000 | ₹2,24,811 | ₹4,811 | 2.3% |
ICICI Prudential Small CapICICI Prudential Small Cap Fund (Direct)
Kotak Nifty Smallcap 250 IndexKotak Nifty Smallcap 250 Index 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.
ICICI Prudential Small Cap vs Kotak Nifty Smallcap 250 Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | ICICI Prudential Small Cap Fund (Direct) | Kotak Nifty Smallcap 250 Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | −3.99% | −3.66% |
| Standard deviation | 14.88% | 18.02% |
| Sharpe ratio | -0.62 | -0.49 |
| Sortino ratio | -0.84 | -0.67 |
| Maximum drawdown | −15.6% (30-03-2026) | −18.3% (23-03-2026) |
| Beta | 0.79 | 0.91 |
| Alpha | −2.60% | −9.66% |
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 | ICICI Prudential Small Cap Fund (Direct) | Kotak Nifty Smallcap 250 Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.94% | +4.34% |
| Standard deviation | 14.70% | 18.19% |
| Sharpe ratio | 0.67 | -0.06 |
| Sortino ratio | 0.90 | -0.09 |
| Maximum drawdown | −45.1% (24-03-2020) | −20.9% (23-03-2026) |
| Beta | -- | 0.91 |
| Alpha | -- | −6.10% |
From daily NAVs, 03-01-2013 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.
ICICI Prudential Small Cap Fund (Direct)
Kotak Nifty Smallcap 250 Index Fund (Direct)
Nifty Smallcap 250 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| ICICI Prudential Small Cap Fund (Direct) | −17.0% | 17-09-2025 | 30-03-2026 | 22-06-2026 | 3 months | −8.6% |
| Kotak Nifty Smallcap 250 Index Fund (Direct) | −20.9% | 17-07-2025 | 23-03-2026 | 06-07-2026 | 3 months | −9.7% |
| Nifty Smallcap 250 TRI | −20.7% | 17-07-2025 | 23-03-2026 | 02-07-2026 | 3 months | −9.4% |
From daily values since 30-01-2025, 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.
ICICI Prudential Small Cap Fund (Direct)
Kotak Nifty Smallcap 250 Index Fund (Direct)
Nifty Smallcap 250 TRI
Against Nifty Smallcap 250 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| ICICI Prudential Small Cap Fund (Direct) | 81% | 83% | 5.76% |
| Kotak Nifty Smallcap 250 Index Fund (Direct) | 99% | 101% | 0.18% |
From month-end values since 30-01-2025. 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.
ICICI Prudential Small Cap vs Kotak Nifty Smallcap 250 Index: Portfolio Overlap
From each fund's latest monthly portfolio: ICICI Prudential Small Cap Fund, September 2026; Kotak Nifty Smallcap 250 Index Fund, September 2026
Holdings in common
- Overlap
- 15.6%
- Held by both
- 40
- Only in ICICI Prudential Small Cap
- 78
- Only in Kotak Nifty Smallcap 250 Index
- 211
| Security | % of ICICI Prudential Small Cap | % of Kotak Nifty Smallcap 250 Index |
|---|---|---|
| Krishna Institute of Medical Sciences | 1.35% | 0.89% |
| Angel One Ltd. | 1.27% | 0.80% |
| PNB Housing Finance Ltd. | 0.74% | 0.95% |
| Bandhan Bank Ltd. | 0.73% | 0.79% |
| Computer Age Management Services Ltd. | 0.85% | 0.72% |
| Dr Lal Pathlabs Ltd. | 0.97% | 0.70% |
| Kirloskar Oil Engines Ltd. | 0.65% | 0.86% |
| Carborundum Universal Ltd. | 1.21% | 0.65% |
| Timken India Ltd. | 1.78% | 0.51% |
| Kaynes Technology India Ltd. | 1.13% | 0.49% |
| ZF Commercial Vehicle Control Systems India Ltd | 1.63% | 0.48% |
| Brigade Enterprises Ltd. | 0.55% | 0.48% |
| Elgi Equipments Ltd. | 0.47% | 0.59% |
| Aarti Industries Ltd. | 0.49% | 0.44% |
| Tata Chemicals Ltd. | 1.03% | 0.43% |
| Atul Ltd. | 2.11% | 0.42% |
| Netweb Technologies India | 0.67% | 0.40% |
| RR Kabel Ltd. | 1.86% | 0.38% |
| Pg Electroplast Ltd. | 0.96% | 0.36% |
| Honeywell Automation India Ltd. | 0.67% | 0.34% |
| Aditya Birla Sun Life AMC Ltd. | 0.88% | 0.33% |
| Syngene International Ltd. | 0.40% | 0.31% |
| Jindal Saw Ltd. | 0.92% | 0.29% |
| Triveni Turbine Ltd. | 1.37% | 0.28% |
| EIH Ltd. | 1.53% | 0.27% |
| Can Fin Homes Ltd. | 0.79% | 0.27% |
| Rubicon Research Ltd | 0.99% | 0.26% |
| Minda Corporation Ltd. | 1.66% | 0.25% |
| TD Power Systems Ltd. | 0.25% | 0.82% |
| Canara HSBC Life Insurance Co Ltd | 1.20% | 0.24% |
| Aavas Financiers Ltd. | 1.06% | 0.22% |
| CIE Automotive India Ltd | 0.55% | 0.22% |
| NCC Ltd. | 0.22% | 0.23% |
| KSB Ltd. | 0.70% | 0.21% |
| Sarda Energy & Minerals Ltd. | 0.24% | 0.21% |
| UTI Asset Management Co Ltd | 1.58% | 0.17% |
| Aditya Infotech Ltd | 0.16% | 0.47% |
| JSW Cement Ltd. | 1.07% | 0.16% |
| Nuvoco Vistas Corporation Ltd. | 0.92% | 0.15% |
| Orient Refractories Ltd. | 0.08% | 0.11% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 15.6% means 15.6% 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 ICICI Prudential Small Cap Fund
| Security | % of fund |
|---|---|
| Shadowfax Technologies Ltd | 3.79% |
| Sedemac Mechatronics Ltd | 2.82% |
| Travel Food Services Ltd | 2.07% |
| LIC Housing Finance Ltd. | 1.72% |
| Pondy Oxides & Chemical Ltd. | 1.58% |
Largest holdings only in Kotak Nifty Smallcap 250 Index Fund
| Security | % of fund |
|---|---|
| Sona BLW Precision Forgings Ltd | 1.67% |
| Welspun Corp Limited | 1.60% |
| KARUR VYSYA BANK LTD. | 1.38% |
| NAVIN FLUORINE INTERNATIONAL LTD. | 1.36% |
| ATHER ENERGY LTD | 1.21% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | ICICI Prudential Small Cap | Kotak Nifty Smallcap 250 Index |
|---|---|---|
| Equity | 96.6% | 99.1% |
| Debt | 0.0% | 0.0% |
| Cash and others | 3.3% | 0.9% |
Market cap of stocks
| Market cap | ICICI Prudential Small Cap | Kotak Nifty Smallcap 250 Index |
|---|---|---|
| Large Cap | 2.3% | 0.0% |
| Mid Cap | 1.5% | 2.7% |
| Small Cap | 85.0% | 95.4% |
| Not on AMFI's list | 7.8% | 1.0% |
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 | ICICI Prudential Small Cap | Kotak Nifty Smallcap 250 Index |
|---|---|---|
| Auto Components | 12.2% | 8.5% |
| Industrial Products | 10.4% | 8.7% |
| Pharmaceuticals and Biotechnology | 0.0% | 7.8% |
| Capital Markets | 7.7% | 5.4% |
| Finance | 6.6% | 7.6% |
| Chemicals & Petrochemicals | 7.6% | 0.0% |
| Chemicals and Petrochemicals | 0.0% | 5.8% |
| Pharmaceuticals & Biotechnology | 5.3% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
ICICI Prudential Small Cap vs Kotak Nifty Smallcap 250 Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | ICICI Prudential Small Cap Fund | Kotak Nifty Smallcap 250 Index Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.17% | 0.46% |
| Base expense ratio (Direct) | 0.71% | 0.13% |
| Total expense ratio (Regular) | 2.09% | 0.94% |
| Base expense ratio (Regular) | 1.51% | 0.53% |
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
ICICI Prudential Small Cap Fund vs Kotak Nifty Smallcap 250 Index Fund: Frequently Asked Questions
What is the difference between ICICI Prudential Small Cap Fund and Kotak Nifty Smallcap 250 Index Fund?
ICICI Prudential Small Cap Fund is a Small Cap fund, Kotak Nifty Smallcap 250 Index Fund is an Index fund, run by ICICI Prudential Mutual Fund and Kotak Mahindra Mutual Fund. Their portfolios overlap 15.6%. ICICI Prudential Small Cap Fund charges 1.17% a year and Kotak Nifty Smallcap 250 Index Fund 0.46%.
Which has given higher returns, ICICI Prudential Small Cap Fund or Kotak Nifty Smallcap 250 Index Fund?
Over 1 year: ICICI Prudential Small Cap Fund −3.99%, Kotak Nifty Smallcap 250 Index Fund −3.66%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, ICICI Prudential Small Cap Fund or Kotak Nifty Smallcap 250 Index Fund?
Kotak Nifty Smallcap 250 Index Fund charges less: 0.46% a year against 1.17%. These are the Direct plans' total expense ratios reported to AMFI.
How much do ICICI Prudential Small Cap Fund and Kotak Nifty Smallcap 250 Index Fund overlap?
15.6%. They hold 40 of the same securities, the largest shared ones being KIMS, ANGELONE, PNBHOUSING. From each fund's latest monthly portfolio.
Can I invest in both ICICI Prudential Small Cap Fund and Kotak Nifty Smallcap 250 Index Fund?
Yes. 15.6% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages ICICI Prudential Small Cap Fund and Kotak Nifty Smallcap 250 Index Fund?
ICICI Prudential Small Cap Fund: Rajat Chandak, Aatur Shah, Sakshat Goel, Gaurav Jain, Sharmila D'silva. Kotak Nifty Smallcap 250 Index Fund: Satish Dondapati, Abhishek Bisen, Jeetu Valechha Sonar.
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.