Mirae Asset Small Cap Fund vs PGIM India Small Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Mirae Asset Small Cap Fund and PGIM India Small Cap Fund are both Small Cap funds. In the year to 30-10-2026, Mirae Asset Small Cap Fund (Direct) returned −0.3% and PGIM India Small Cap Fund (Direct) returned 4.8%. Mirae Asset Small Cap Fund charges 0.68% a year and PGIM India Small Cap Fund 0.95% (Direct plans). Their portfolios overlap 28.0%: they hold 25 of the same securities.
Mirae Asset Small Cap Fund
Small Cap
- 1 year return
- −0.3%
- Expense ratio
- 0.68%
- NAV
- ₹11.96
PGIM India Small Cap Fund
Small Cap
- 1 year return
- 4.8%
- Expense ratio
- 0.95%
- NAV
- ₹18.81
Which is better, Mirae Asset Small Cap or PGIM 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.
- PGIM India Small Cap returned more over 1 year: 4.8% against −0.3%.
- Mirae Asset Small Cap costs less: 0.68% a year against 0.95% (Direct plans).
- Mirae Asset Small Cap fell less in its worst fall since 03-02-2025: −15.1% against −16.2%.
- Mirae Asset Small Cap is the larger fund: ₹5,819 Cr against ₹1,739 Cr.
- Their portfolios overlap 28.0%: 25 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 | Mirae Asset Small Cap Fund | PGIM India Small Cap Fund |
|---|---|---|
| Fund house | Mirae Asset Mutual Fund | PGIM India Mutual Fund |
| Category | Small Cap | Small Cap |
| AUM | ₹5,819 Cr (30-09-2026) | ₹1,739 Cr (30-09-2026) |
| NAV | ₹11.96 (Direct) | ₹18.81 (Direct) |
| Expense ratio (Direct) | 0.68% | 0.95% |
| Expense ratio (Regular) | 2.10% | 2.38% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty Smallcap 250 TRI | Nifty Smallcap 250 TRI |
| Launch date | 31-01-2025 | 29-07-2021 |
| Minimum investment | ₹5,000 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Varun Goel | Utsav Mehta, Vivek Sharma, Vinay Paharia, Puneet Pal |
| Exit load | Nil | Exit load of 0.5%, if redeemed within 90 days. |
Mirae Asset Small Cap vs PGIM 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 |
|---|---|---|---|---|---|---|---|
| Mirae Asset Small Cap Fund (Direct) | −5.86% | −4.10% | +2.35% | −0.32% | -- | -- | -- |
| PGIM India Small Cap Fund (Direct) | −5.00% | −1.62% | +7.36% | +4.79% | +14.56% | +11.41% | -- |
| Small Cap average | −5.86% | −3.28% | +5.03% | +3.00% | +14.03% | +14.51% | -- |
Category average: the average of the 36 Small Cap funds, same plan type.
Mirae Asset Small Cap vs PGIM India Small Cap: Year-wise Returns
| Year | Mirae AssetMirae Asset Small Cap | PGIM IndiaPGIM India Small Cap | Nifty Smallcap 250 TRI |
|---|---|---|---|
| 2026to date | +1.76% | +9.30% | +1.00% |
| 2025 | -- | +1.00% | −5.48% |
| 2024 | -- | +21.54% | +27.21% |
| 2023 | -- | +25.85% | +49.09% |
| 2022 | -- | −3.47% | −2.64% |
Mirae Asset Small Cap vs PGIM India Small Cap: Rolling Returns
Every holding period of both funds, against Nifty Smallcap 250 TRI, the benchmark of both
Rolling returns
Every 1-year holding period, 182 of them, one for each trading day from 03-02-2026 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.
Mirae Asset Small Cap Fund (Direct)
PGIM India Small Cap 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mirae Asset Small Cap | 1.1 | 6.6 | 35.2 | 37.4 | 13.2 | 6.6 | 0.0 | 11.4% | 11.0% | −0.3% | 23.7% | 100% |
| PGIM India Small Cap | 0.5 | 7.7 | 31.9 | 39.6 | 20.3 | 0.0 | 0.0 | 11.0% | 10.8% | −0.2% | 19.5% | 100% |
| Nifty Smallcap 250 TRI | 13.7 | 35.2 | 34.1 | 15.9 | 1.1 | 0.0 | 0.0 | 5.0% | 5.2% | −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 03-02-2025. Past returns do not promise future returns.
Mirae Asset Small Cap vs PGIM 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 03-02-2025 to 30-10-2026: 21 instalments, ₹2,10,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Mirae Asset Small CapMirae Asset Small Cap Fund (Direct) | ₹2,10,000 | ₹2,22,670 | ₹12,670 | 6.6% |
| PGIM India Small CapPGIM India Small Cap Fund (Direct) | ₹2,10,000 | ₹2,31,651 | ₹21,651 | 11.2% |
Mirae Asset Small CapMirae Asset Small Cap Fund (Direct)
PGIM India Small CapPGIM 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.
Mirae Asset Small Cap vs PGIM India Small Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Mirae Asset Small Cap Fund (Direct) | PGIM India Small Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −0.32% | +4.79% |
| Standard deviation | 16.07% | 15.96% |
| Sharpe ratio | -0.35 | -0.03 |
| Sortino ratio | -0.48 | -0.04 |
| Maximum drawdown | −15.1% (23-03-2026) | −15.7% (23-03-2026) |
| Beta | 0.86 | 0.84 |
| Alpha | +1.66% | +6.58% |
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 | Mirae Asset Small Cap Fund (Direct) | PGIM India Small Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.37% | +12.53% |
| Standard deviation | 15.55% | 15.76% |
| Sharpe ratio | 0.31 | 0.43 |
| Sortino ratio | 0.44 | 0.58 |
| Maximum drawdown | −15.1% (23-03-2026) | −24.6% (20-06-2022) |
| Beta | 0.82 | 0.80 |
| Alpha | +5.63% | +1.05% |
From daily NAVs, 03-02-2025 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.
Mirae Asset Small Cap Fund (Direct)
PGIM India Small Cap 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 |
|---|---|---|---|---|---|---|
| Mirae Asset Small Cap Fund (Direct) | −15.1% | 03-11-2025 | 23-03-2026 | 18-06-2026 | 3 months | −9.2% |
| PGIM India Small Cap Fund (Direct) | −16.2% | 19-09-2025 | 23-03-2026 | 07-05-2026 | 45 days | −8.2% |
| Nifty Smallcap 250 TRI | −20.7% | 17-07-2025 | 23-03-2026 | 02-07-2026 | 3 months | −9.4% |
From daily values since 03-02-2025, 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.
Mirae Asset Small Cap Fund (Direct)
PGIM India Small Cap Fund (Direct)
Nifty Smallcap 250 TRI
Against Nifty Smallcap 250 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Mirae Asset Small Cap Fund (Direct) | 93% | 71% | 5.95% |
| PGIM India Small Cap Fund (Direct) | 97% | 72% | 6.82% |
From month-end values since 03-02-2025. 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.
Mirae Asset Small Cap vs PGIM India Small Cap: Portfolio Overlap
From each fund's latest monthly portfolio: Mirae Asset Small Cap Fund, September 2026; PGIM India Small Cap Fund, September 2026
Holdings in common
- Overlap
- 28.0%
- Held by both
- 25
- Only in Mirae Asset Small Cap
- 60
- Only in PGIM India Small Cap
- 47
| Security | % of Mirae Asset Small Cap | % of PGIM India Small Cap |
|---|---|---|
| Karur Vysya Bank Ltd. | 2.14% | 2.20% |
| Welspun Corp Ltd. | 2.86% | 1.75% |
| Krishna Institute of Medical Sciences Ltd. | 1.69% | 2.91% |
| Multi Commodity Exchange of India Ltd. | 1.53% | 1.83% |
| JK Cement Ltd. | 1.60% | 1.51% |
| Doms Industries Ltd. | 1.66% | 1.49% |
| Kusumgar Ltd. | 1.88% | 1.44% |
| Torrent Pharmaceuticals Ltd. | 1.44% | 2.00% |
| Sagility Ltd. | 1.21% | 1.27% |
| City Union Bank Ltd. | 1.19% | 2.42% |
| K.P.R. Mill Ltd. | 1.88% | 1.16% |
| Timken India Ltd. | 1.71% | 1.08% |
| Triveni Turbine Ltd. | 1.33% | 1.05% |
| Sai Life Sciences Ltd. | 1.02% | 1.87% |
| Computer Age Management Services Ltd. | 0.97% | 1.28% |
| Sundaram Finance Ltd. | 0.95% | 1.05% |
| Shiprocket Ltd. | 0.91% | 1.21% |
| Home First Finance Company India Ltd. | 1.22% | 0.90% |
| Navin Fluorine International Ltd. | 0.83% | 2.75% |
| Lenskart Solutions Ltd. | 0.81% | 1.02% |
| Can Fin Homes Ltd. | 0.81% | 1.27% |
| BlackBuck Ltd. | 0.61% | 0.95% |
| Brigade Enterprises Ltd. | 0.83% | 0.60% |
| Eternal Ltd. | 0.50% | 1.27% |
| S.J.S. Enterprises Ltd. | 0.47% | 1.26% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 28.0% means 28.0% 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 Mirae Asset Small Cap Fund
| Security | % of fund |
|---|---|
| Kirloskar Oil Engines Ltd. | 2.53% |
| BlueStone Jewellery & Lifestyle Ltd. | 2.33% |
| Dr. Lal Path labs Ltd. | 2.30% |
| GNG Electronics Ltd. | 1.89% |
| Voltamp Transformers Ltd. | 1.87% |
Largest holdings only in PGIM India Small Cap Fund
| Security | % of fund |
|---|---|
| Sansera Engineering Ltd. | 3.42% |
| TBO Tek Ltd. | 3.12% |
| Sedemac Mechatronics Ltd. | 3.02% |
| Affle 3i Ltd. | 2.76% |
| Amagi Media Labs Ltd. | 2.08% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Mirae Asset Small Cap | PGIM India Small Cap |
|---|---|---|
| Equity | 98.7% | 96.5% |
| Debt | 0.0% | 0.1% |
| Cash and others | 1.3% | 3.3% |
Market cap of stocks
| Market cap | Mirae Asset Small Cap | PGIM India Small Cap |
|---|---|---|
| Large Cap | 5.4% | 7.3% |
| Mid Cap | 15.0% | 16.0% |
| Small Cap | 70.9% | 65.8% |
| Not on AMFI's list | 7.5% | 7.4% |
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 | Mirae Asset Small Cap | PGIM India Small Cap |
|---|---|---|
| Industrial Products | 12.1% | 5.4% |
| Auto Components | 4.2% | 10.8% |
| Pharmaceuticals & Biotechnology | 10.8% | 5.8% |
| Banks | 6.2% | 7.6% |
| Finance | 7.3% | 3.2% |
| IT - Services | 1.2% | 7.1% |
| Capital Markets | 6.9% | 4.6% |
| Electrical Equipment | 6.5% | 2.7% |
| Chemicals & Petrochemicals | 4.5% | 5.6% |
The six largest sectors of each fund's stocks, % of the fund.
Mirae Asset Small Cap vs PGIM India Small Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Mirae Asset Small Cap Fund | PGIM India Small Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.68% | 0.95% |
| Base expense ratio (Direct) | 0.38% | 0.59% |
| Total expense ratio (Regular) | 2.10% | 2.38% |
| Base expense ratio (Regular) | 1.58% | 1.80% |
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 Mirae Asset Small Cap with
Mirae Asset Small Cap Fund vs PGIM India Small Cap Fund: Frequently Asked Questions
What is the difference between Mirae Asset Small Cap Fund and PGIM India Small Cap Fund?
Both are Small Cap funds, run by Mirae Asset Mutual Fund and PGIM India Mutual Fund. Their portfolios overlap 28.0%. Mirae Asset Small Cap Fund charges 0.68% a year and PGIM India Small Cap Fund 0.95%.
Which has given higher returns, Mirae Asset Small Cap Fund or PGIM India Small Cap Fund?
Over 1 year: Mirae Asset Small Cap Fund −0.32%, PGIM India Small Cap Fund +4.79%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Mirae Asset Small Cap Fund or PGIM India Small Cap Fund?
Mirae Asset Small Cap Fund charges less: 0.68% a year against 0.95%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Mirae Asset Small Cap Fund and PGIM India Small Cap Fund overlap?
28.0%. They hold 25 of the same securities, the largest shared ones being KARURVYSYA, WELCORP, KIMS. From each fund's latest monthly portfolio.
Which is riskier, Mirae Asset Small Cap Fund or PGIM India Small Cap Fund?
On SEBI's riskometer, Mirae Asset Small Cap Fund is rated Very High and PGIM India Small Cap Fund Very High. Over 1 years, the standard deviation of daily returns was 16.07% and 15.96% a year.
Can I invest in both Mirae Asset Small Cap Fund and PGIM India Small Cap Fund?
Yes. 28.0% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Mirae Asset Small Cap Fund and PGIM India Small Cap Fund?
Mirae Asset Small Cap Fund: Varun Goel. PGIM India Small Cap Fund: Utsav Mehta, Vivek Sharma, Vinay Paharia, Puneet Pal.
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.