Kotak Nifty Smallcap 250 Index Fund vs Nippon India Small Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Kotak Nifty Smallcap 250 Index Fund is an Index fund and Nippon India Small Cap Fund is a Small Cap fund. In the year to 30-10-2026, Kotak Nifty Smallcap 250 Index Fund (Direct) returned −3.7% and Nippon India Small Cap Fund (Direct) returned −0.2%. Kotak Nifty Smallcap 250 Index Fund charges 0.46% a year and Nippon India Small Cap Fund 0.69% (Direct plans). Their portfolios overlap 28.8%: they hold 85 of the same securities.
Kotak Nifty Smallcap 250 Index Fund
Index
- 1 year return
- −3.7%
- Expense ratio
- 0.46%
- NAV
- ₹10.89
Nippon India Small Cap Fund
Small Cap
- 1 year return
- −0.2%
- Expense ratio
- 0.69%
- NAV
- ₹192.76
Which is better, Kotak Nifty Smallcap 250 Index 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.
- Nippon India Small Cap returned more over 1 year: −0.2% against −3.7%.
- Kotak Nifty Smallcap 250 Index costs less: 0.46% a year against 0.69% (Direct plans).
- Nippon India Small Cap fell less in its worst fall since 30-01-2025: −15.9% against −20.9%.
- Nippon India Small Cap holds more in large companies: 14.3% of the fund in large caps against 0.0%.
- Nippon India Small Cap is the larger fund: ₹80,906 Cr against ₹87 Cr.
- Their portfolios overlap 28.8%: 85 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 | Kotak Nifty Smallcap 250 Index Fund | Nippon India Small Cap Fund |
|---|---|---|
| Fund house | Kotak Mahindra Mutual Fund | Nippon India Mutual Fund |
| Category | Index | Small Cap |
| AUM | ₹87 Cr (30-09-2026) | ₹80,906 Cr (30-09-2026) |
| NAV | ₹10.89 (Direct) | ₹192.76 (Direct) |
| Expense ratio (Direct) | 0.46% | 0.69% |
| Expense ratio (Regular) | 0.94% | 1.41% |
| Riskometer | Very High | Very High |
| Benchmark | NIFTY Smallcap 50 TRI | Nifty Smallcap 250 TRI |
| Launch date | 27-01-2025 | 16-09-2010 |
| Minimum investment | ₹100 | Not available |
| Lock in | None | None |
| Fund managers | Satish Dondapati, Abhishek Bisen, Jeetu Valechha Sonar | Samir Rachh |
| Exit load | Nil | Exit load of 1% if redeemed within 1 year. |
Kotak Nifty Smallcap 250 Index 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 |
|---|---|---|---|---|---|---|---|
| Kotak Nifty Smallcap 250 Index Fund (Direct) | −5.79% | −6.16% | +0.22% | −3.66% | -- | -- | -- |
| 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.
Kotak Nifty Smallcap 250 Index vs Nippon India Small Cap: Year-wise Returns
| Year | Kotak Nifty Smallcap 250 IndexKotak Nifty Smallcap 250 Index | Nippon India Small CapNippon India Small Cap |
|---|---|---|
| 2026to date | +0.51% | +3.07% |
| 2025 | -- | −4.02% |
| 2024 | -- | +27.06% |
| 2023 | -- | +50.17% |
| 2022 | -- | +7.53% |
| 2021 | -- | +75.87% |
Kotak Nifty Smallcap 250 Index vs Nippon India Small Cap: Rolling Returns
Every holding period of both funds, against Nifty Smallcap 50 TRI, the benchmark of Kotak Nifty Smallcap 250 Index 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.
Kotak Nifty Smallcap 250 Index Fund (Direct)
Nippon India Small Cap Fund (Direct)
Nifty Smallcap 50 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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% | 0% |
| Nippon India Small Cap | 4.3 | 21.7 | 42.9 | 28.3 | 2.7 | 0.0 | 0.0 | 7.7% | 7.9% | −2.5% | 16.1% | 43% |
| Nifty Smallcap 50 TRI | 6.0 | 22.8 | 26.6 | 25.0 | 18.5 | 1.1 | 0.0 | 9.1% | 9.0% | −4.6% | 21.5% | -- |
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 50 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.
Kotak Nifty Smallcap 250 Index 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 30-01-2025 to 30-10-2026: 22 instalments, ₹2,20,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Kotak Nifty Smallcap 250 IndexKotak Nifty Smallcap 250 Index Fund (Direct) | ₹2,20,000 | ₹2,24,811 | ₹4,811 | 2.3% |
| Nippon India Small CapNippon India Small Cap Fund (Direct) | ₹2,20,000 | ₹2,27,995 | ₹7,995 | 3.8% |
Kotak Nifty Smallcap 250 IndexKotak Nifty Smallcap 250 Index 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.
Kotak Nifty Smallcap 250 Index 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 | Kotak Nifty Smallcap 250 Index Fund (Direct) | Nippon India Small Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −3.66% | −0.23% |
| Standard deviation | 18.02% | 16.03% |
| Sharpe ratio | -0.49 | -0.34 |
| Sortino ratio | -0.67 | -0.46 |
| Maximum drawdown | −18.3% (23-03-2026) | −14.7% (31-03-2026) |
| Beta | 0.91 | 0.87 |
| Alpha | −9.66% | +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 | Kotak Nifty Smallcap 250 Index Fund (Direct) | Nippon India Small Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +4.34% | +23.01% |
| Standard deviation | 18.19% | 17.11% |
| Sharpe ratio | -0.06 | 0.99 |
| Sortino ratio | -0.09 | 1.32 |
| Maximum drawdown | −20.9% (23-03-2026) | −48.6% (24-03-2020) |
| Beta | 0.91 | -- |
| Alpha | −6.10% | -- |
From daily NAVs, 30-01-2025 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.
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.
Kotak Nifty Smallcap 250 Index Fund (Direct)
Nippon India Small Cap Fund (Direct)
Nifty Smallcap 50 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Kotak Nifty Smallcap 250 Index Fund (Direct) | −20.9% | 17-07-2025 | 23-03-2026 | 06-07-2026 | 3 months | −9.7% |
| Nippon India Small Cap Fund (Direct) | −15.9% | 17-07-2025 | 31-03-2026 | 07-05-2026 | 37 days | −8.7% |
| Nifty Smallcap 50 TRI | −19.6% | 15-07-2025 | 23-03-2026 | 18-06-2026 | 3 months | −6.9% |
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.
Kotak Nifty Smallcap 250 Index Fund (Direct)
Nippon India Small Cap Fund (Direct)
Nifty Smallcap 50 TRI
Against Nifty Smallcap 50 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Kotak Nifty Smallcap 250 Index Fund (Direct) | 88% | 106% | 4.23% |
| Nippon India Small Cap Fund (Direct) | 83% | 93% | 5.53% |
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.
Kotak Nifty Smallcap 250 Index vs Nippon India Small Cap: Portfolio Overlap
From each fund's latest monthly portfolio: Kotak Nifty Smallcap 250 Index Fund, September 2026; Nippon India Small Cap Fund, September 2026
Holdings in common
- Overlap
- 28.8%
- Held by both
- 85
- Only in Kotak Nifty Smallcap 250 Index
- 166
- Only in Nippon India Small Cap
- 171
| Security | % of Kotak Nifty Smallcap 250 Index | % of Nippon India Small Cap |
|---|---|---|
| KARUR VYSYA BANK LTD. | 1.38% | 1.28% |
| SAI LIFE SCIENCES LIMITED | 0.95% | 1.24% |
| Kirloskar Oil Engines Ltd. | 0.86% | 0.97% |
| TD POWER SYSTEMS LTD. | 0.82% | 1.88% |
| MTAR TECHNOLOGIES LIMITED | 0.75% | 0.92% |
| CRAFTSMAN AUTOMATION LTD | 0.71% | 0.77% |
| Gland Pharma Limited | 1.04% | 0.66% |
| PNB HOUSING FINANCE LTD. | 0.95% | 0.66% |
| Carborundum Universal Ltd. | 0.65% | 0.63% |
| KALPATARU PROJECTS INTERNATIONAL LIMITED | 0.70% | 0.62% |
| NAVIN FLUORINE INTERNATIONAL LTD. | 1.36% | 0.58% |
| KRISHNA INSTITUTE OF MEDICAL | 0.89% | 0.56% |
| DELHIVERY LTD | 1.11% | 0.53% |
| Asahi India Glass Ltd. | 0.52% | 0.60% |
| Timken India Ltd. | 0.51% | 0.54% |
| Sona BLW Precision Forgings Ltd | 1.67% | 0.49% |
| Finolex Cables Ltd. | 0.49% | 0.54% |
| The Ramco Cements Ltd | 0.48% | 0.53% |
| Sansera Engineering Ltd | 0.92% | 0.47% |
| RBL BANK LTD. | 1.12% | 0.45% |
| ADANI WILMAR LTD. | 0.45% | 0.58% |
| POONAWALLA FINCORP LIMITED | 0.71% | 0.44% |
| Affle (India) Ltd. | 0.43% | 0.48% |
| KFIN TECHNOLOGIES LTD. | 0.50% | 0.41% |
| Central Depository Services (India) Ltd | 1.01% | 0.40% |
| PVR LTD. | 0.40% | 0.50% |
| ACME SOLAR HOLDINGS LTD. | 0.40% | 1.33% |
| Crompton Greaves Consumer Electricals Limited | 0.60% | 0.39% |
| CITY UNION BANK LTD. | 0.98% | 0.38% |
| Cyient Ltd. | 0.39% | 0.38% |
| Deepak Nitrite Ltd. | 0.47% | 0.35% |
| PINE LABS LTD. | 0.43% | 0.34% |
| Balrampur Chini Mills Ltd. | 0.34% | 0.91% |
| Aarti Industries Ltd. | 0.44% | 0.33% |
| PHYSICSWALLAH LIMITED | 0.33% | 0.50% |
| Aditya Birla Sun Life AMC Ltd | 0.33% | 0.52% |
| Emami Ltd. | 0.33% | 0.79% |
| ECLERX SERVICES LTD. | 0.33% | 0.78% |
| DR.Lal Pathlabs Ltd | 0.70% | 0.32% |
| Syngene International Limited | 0.31% | 0.60% |
| PARADEEP PHOSPHATES LTD. | 0.30% | 0.75% |
| Whirlpool of India Ltd. | 0.30% | 0.88% |
| Kajaria Ceramics Ltd. | 0.45% | 0.29% |
| BELRISE INDUSTRIES LTD. | 0.41% | 0.29% |
| Data Patterns (India) Ltd. | 0.58% | 0.28% |
| JINDAL SAW LTD | 0.29% | 0.26% |
| TBO TEK LIMITED | 0.26% | 0.71% |
| Castrol (India) Ltd. | 0.43% | 0.25% |
| ADITYA BIRLA REAL ESTATE LTD | 0.27% | 0.24% |
| Vardhman Textiles Ltd. | 0.24% | 0.56% |
| LEMON TREE HOTELS LTD | 0.23% | 0.25% |
| CIE AUTOMOTIVE INDIA LTD. | 0.22% | 0.24% |
| Zydus Wellness Ltd. | 0.22% | 1.09% |
| KAYNES TECHNOLOGY LTD | 0.49% | 0.21% |
| PG ELECTROPLAST LTD | 0.36% | 0.21% |
| Chambal Fertilisers & Chemicals Ltd. | 0.27% | 0.21% |
| Kirloskar Brothers Ltd | 0.21% | 0.99% |
| ZF COMMERCIAL VEHICLE CONTROL SYSTEMS INDIA LTD | 0.48% | 0.19% |
| CESC Ltd. | 0.38% | 0.19% |
| SUMITOMO CHEMICAL INDIA LTD. | 0.24% | 0.19% |
| Aavas Financiers Ltd | 0.22% | 0.19% |
| Tejas Networks Ltd | 0.18% | 0.30% |
| ELGI Equipments Ltd. | 0.59% | 0.17% |
| BRIGADE ENTERPRISES LIMITED | 0.48% | 0.17% |
| KPIT Technologies Ltd. | 0.38% | 0.17% |
| DOMS INDUSTRIES LTD | 0.21% | 0.17% |
| AFCONS INFRASTRUCTURE LTD. | 0.17% | 0.21% |
| CLEAN SCIENCE AND TECHNOLOGY LTD | 0.17% | 0.30% |
| ALLIED BLENDERS & DISTILLERS LTD. | 0.17% | 0.37% |
| Computer Age Management Services Limited | 0.72% | 0.16% |
| CREDITACCESS GRAMEEN LTD. | 0.31% | 0.16% |
| UTI ASSET MANAGEMENT COMPANY LTD | 0.17% | 0.16% |
| JSW CEMENT LTD | 0.16% | 0.28% |
| CAN FIN HOMES LTD. | 0.27% | 0.15% |
| PIRAMAL PHARMA LIMITED | 0.58% | 0.13% |
| RAINBOW CHILDRENS MEDICARE LTD | 0.29% | 0.13% |
| ZENSAR TECHNOLGIES LTD. | 0.22% | 0.13% |
| RITES LIMITED | 0.13% | 0.24% |
| TRIVENI TURBINE LTD. | 0.28% | 0.12% |
| INOX WIND LIMITED | 0.30% | 0.11% |
| RHI MAGNESITA INDIA LTD. | 0.11% | 0.21% |
| Birlasoft LImited | 0.20% | 0.10% |
| CENTRAL MINE PLANNING & DESIGN INSTITUTE LTD. | 0.10% | 0.65% |
| URBAN COMPANY LTD. | 0.25% | 0.09% |
| KEC INTERNATIONAL LTD. | 0.22% | 0.07% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 28.8% means 28.8% 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 Kotak Nifty Smallcap 250 Index Fund
| Security | % of fund |
|---|---|
| Welspun Corp Limited | 1.60% |
| ATHER ENERGY LTD | 1.21% |
| STERLITE TECHNOLOGIES LIMITED. | 1.17% |
| Redington (India) Ltd. | 1.08% |
| BROOKFIELD REIT | 1.03% |
Largest holdings only in Nippon India Small Cap Fund
| Security | % of fund |
|---|---|
| Bharat Heavy Electricals Limited | 1.77% |
| HDFC Bank Limited | 1.75% |
| Apar Industries Limited | 1.74% |
| Sundram Fasteners Limited | 1.20% |
| State Bank of India | 1.19% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Kotak Nifty Smallcap 250 Index | Nippon India Small Cap |
|---|---|---|
| Equity | 99.1% | 97.4% |
| Debt | 0.0% | 0.0% |
| Cash and others | 0.9% | 2.6% |
Market cap of stocks
| Market cap | Kotak Nifty Smallcap 250 Index | Nippon India Small Cap |
|---|---|---|
| Large Cap | 0.0% | 14.3% |
| Mid Cap | 2.7% | 13.1% |
| Small Cap | 95.4% | 66.6% |
| Not on AMFI's list | 1.0% | 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 | Kotak Nifty Smallcap 250 Index | Nippon India Small Cap |
|---|---|---|
| Electrical Equipment | 3.4% | 9.5% |
| Industrial Products | 8.7% | 6.8% |
| Auto Components | 8.5% | 7.7% |
| Pharmaceuticals and Biotechnology | 7.8% | 0.0% |
| Finance | 7.6% | 4.0% |
| Banks | 5.1% | 7.6% |
| Chemicals and Petrochemicals | 5.8% | 0.0% |
| Pharmaceuticals & Biotechnology | 0.0% | 5.4% |
| Consumer Durables | 2.8% | 5.4% |
| Capital Markets | 5.4% | 4.0% |
The six largest sectors of each fund's stocks, % of the fund.
Kotak Nifty Smallcap 250 Index vs Nippon India Small Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Kotak Nifty Smallcap 250 Index Fund | Nippon India Small Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.46% | 0.69% |
| Base expense ratio (Direct) | 0.13% | 0.53% |
| Total expense ratio (Regular) | 0.94% | 1.41% |
| Base expense ratio (Regular) | 0.53% | 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
Kotak Nifty Smallcap 250 Index Fund vs Nippon India Small Cap Fund: Frequently Asked Questions
What is the difference between Kotak Nifty Smallcap 250 Index Fund and Nippon India Small Cap Fund?
Kotak Nifty Smallcap 250 Index Fund is an Index fund, Nippon India Small Cap Fund is a Small Cap fund, run by Kotak Mahindra Mutual Fund and Nippon India Mutual Fund. Their portfolios overlap 28.8%. Kotak Nifty Smallcap 250 Index Fund charges 0.46% a year and Nippon India Small Cap Fund 0.69%.
Which has given higher returns, Kotak Nifty Smallcap 250 Index Fund or Nippon India Small Cap Fund?
Over 1 year: Kotak Nifty Smallcap 250 Index Fund −3.66%, Nippon India Small Cap Fund −0.23%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Kotak Nifty Smallcap 250 Index Fund or Nippon India Small Cap Fund?
Kotak Nifty Smallcap 250 Index Fund charges less: 0.46% a year against 0.69%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Kotak Nifty Smallcap 250 Index Fund and Nippon India Small Cap Fund overlap?
28.8%. They hold 85 of the same securities, the largest shared ones being KARURVYSYA, SAILIFE, KIRLOSENG. From each fund's latest monthly portfolio.
Which is riskier, Kotak Nifty Smallcap 250 Index Fund or Nippon India Small Cap Fund?
On SEBI's riskometer, Kotak Nifty Smallcap 250 Index Fund is rated Very High and Nippon India Small Cap Fund Very High. Over 1 years, the standard deviation of daily returns was 18.02% and 16.03% a year.
Can I invest in both Kotak Nifty Smallcap 250 Index Fund and Nippon India Small Cap Fund?
Yes. 28.8% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Kotak Nifty Smallcap 250 Index Fund and Nippon India Small Cap Fund?
Kotak Nifty Smallcap 250 Index Fund: Satish Dondapati, Abhishek Bisen, Jeetu Valechha Sonar. 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.