PGIM India Retirement Fund vs PGIM India Small Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
PGIM India Retirement Fund is a Solution fund and PGIM India Small Cap Fund is a Small Cap fund. In the year to 30-10-2026, PGIM India Retirement Fund (Direct) returned −3.7% and PGIM India Small Cap Fund (Direct) returned 4.8%. PGIM India Retirement Fund charges 1.12% a year and PGIM India Small Cap Fund 0.95% (Direct plans). Their portfolios overlap 30.3%: they hold 33 of the same securities.
PGIM India Retirement Fund
Solution
- 1 year return
- −3.7%
- Expense ratio
- 1.12%
- NAV
- ₹12.09
PGIM India Small Cap Fund
Small Cap
- 1 year return
- 4.8%
- Expense ratio
- 0.95%
- NAV
- ₹18.81
Which is better, PGIM India Retirement 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 −3.7%.
- PGIM India Small Cap costs less: 0.95% a year against 1.12% (Direct plans).
- PGIM India Retirement fell less in its worst fall since 19-04-2024: −16.5% against −21.5%.
- PGIM India Retirement holds more in large companies: 36.9% of the fund in large caps against 7.3%.
- PGIM India Small Cap is the larger fund: ₹1,739 Cr against ₹104 Cr.
- Their portfolios overlap 30.3%: 33 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 | PGIM India Retirement Fund | PGIM India Small Cap Fund |
|---|---|---|
| Fund house | PGIM India Mutual Fund | PGIM India Mutual Fund |
| Category | Solution | Small Cap |
| AUM | ₹104 Cr (30-09-2026) | ₹1,739 Cr (30-09-2026) |
| NAV | ₹12.09 (Direct) | ₹18.81 (Direct) |
| Expense ratio (Direct) | 1.12% | 0.95% |
| Expense ratio (Regular) | 2.59% | 2.38% |
| Riskometer | Very High | Very High |
| Benchmark | BSE 500 TRI | Nifty Smallcap 250 TRI |
| Launch date | 15-04-2024 | 29-07-2021 |
| Minimum investment | ₹5,000 | ₹5,000 |
| Lock in | 5 years, or until retirement if earlier | None |
| Fund managers | Vinay Paharia, Vivek Sharma, and Mr. Puneet Pal | Utsav Mehta, Vivek Sharma, Vinay Paharia, Puneet Pal |
| Exit load | NIL | Exit load of 0.5%, if redeemed within 90 days. |
PGIM India Retirement 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 |
|---|---|---|---|---|---|---|---|
| PGIM India Retirement Fund (Direct) | −1.95% | −5.10% | +1.60% | −3.67% | -- | -- | -- |
| 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.
PGIM India Retirement vs PGIM India Small Cap: Year-wise Returns
| Year | RetirementPGIM India Retirement | Small CapPGIM India Small Cap |
|---|---|---|
| 2026to date | −0.98% | +9.30% |
| 2025 | +3.21% | +1.00% |
| 2024 | -- | +21.54% |
| 2023 | -- | +25.85% |
| 2022 | -- | −3.47% |
PGIM India Retirement vs PGIM India Small Cap: Rolling Returns
Every holding period of both funds, against BSE 500 TRI, the benchmark of PGIM India Retirement Fund
Rolling returns
Every 1-year holding period, 378 of them, one for each trading day from 21-04-2025 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.
PGIM India Retirement Fund (Direct)
PGIM India Small Cap Fund (Direct)
BSE 500 TRI
to
Jun 2025Sept 2024
to
Sept 2025Dec 2024
to
Dec 2025Mar 2025
to
Mar 2026Jun 2025
to
Jun 2026Sept 2025
to
Sept 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PGIM India Retirement | 13.0 | 39.9 | 24.9 | 16.7 | 5.3 | 0.3 | 0.0 | 5.5% | 4.6% | −5.8% | 21.7% | 70% |
| PGIM India Small Cap | 6.1 | 25.9 | 34.4 | 23.5 | 10.1 | 0.0 | 0.0 | 7.7% | 7.7% | −3.3% | 19.5% | 75% |
| BSE 500 TRI | 30.4 | 31.5 | 30.4 | 6.6 | 1.1 | 0.0 | 0.0 | 3.2% | 2.9% | −9.2% | 15.7% | -- |
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 500 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 19-04-2024. Past returns do not promise future returns.
PGIM India Retirement 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 19-04-2024 to 30-10-2026: 31 instalments, ₹3,10,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| PGIM India RetirementPGIM India Retirement Fund (Direct) | ₹3,10,000 | ₹3,20,401 | ₹10,401 | 2.5% |
| PGIM India Small CapPGIM India Small Cap Fund (Direct) | ₹3,10,000 | ₹3,47,731 | ₹37,731 | 8.9% |
PGIM India RetirementPGIM India Retirement 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.
PGIM India Retirement 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 | PGIM India Retirement Fund (Direct) | PGIM India Small Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −3.67% | +4.79% |
| Standard deviation | 13.62% | 15.96% |
| Sharpe ratio | -0.65 | -0.03 |
| Sortino ratio | -0.88 | -0.04 |
| Maximum drawdown | −14.7% (30-03-2026) | −15.7% (23-03-2026) |
| Beta | 0.92 | 0.84 |
| Alpha | +2.95% | +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 | PGIM India Retirement Fund (Direct) | PGIM India Small Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.82% | +12.53% |
| Standard deviation | 14.06% | 15.76% |
| Sharpe ratio | 0.14 | 0.43 |
| Sortino ratio | 0.19 | 0.58 |
| Maximum drawdown | −16.5% (28-02-2025) | −24.6% (20-06-2022) |
| Beta | 0.93 | 0.80 |
| Alpha | +4.03% | +1.05% |
From daily NAVs, 19-04-2024 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.
PGIM India Retirement Fund (Direct)
PGIM India Small Cap Fund (Direct)
BSE 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| PGIM India Retirement Fund (Direct) | −16.5% | 23-09-2024 | 28-02-2025 | 26-06-2025 | 4 months | −7.4% |
| PGIM India Small Cap Fund (Direct) | −21.5% | 16-10-2024 | 03-03-2025 | 17-09-2025 | 7 months | −8.2% |
| BSE 500 TRI | −18.7% | 26-09-2024 | 28-02-2025 | Not yet | -- | −9.4% |
From daily values since 19-04-2024, 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.
PGIM India Retirement Fund (Direct)
PGIM India Small Cap Fund (Direct)
BSE 500 TRI
Against BSE 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| PGIM India Retirement Fund (Direct) | 106% | 86% | 4.49% |
| PGIM India Small Cap Fund (Direct) | 116% | 79% | 9.54% |
From month-end values since 19-04-2024. 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.
PGIM India Retirement vs PGIM India Small Cap: Portfolio Overlap
From each fund's latest monthly portfolio: PGIM India Retirement Fund, September 2026; PGIM India Small Cap Fund, September 2026
Holdings in common
- Overlap
- 30.3%
- Held by both
- 33
- Only in PGIM India Retirement
- 54
- Only in PGIM India Small Cap
- 39
| Security | % of PGIM India Retirement | % of PGIM India Small Cap |
|---|---|---|
| Sai Life Sciences Ltd | 1.93% | 1.87% |
| Multi Commodity Exchange Of India Ltd. | 1.98% | 1.83% |
| Torrent Pharmaceuticals Ltd. | 1.75% | 2.00% |
| Navin Fluorine International Ltd. | 1.64% | 2.75% |
| Doms Industries Ltd. | 1.89% | 1.49% |
| Krishna Inst of Medical Sciences Ltd. | 1.46% | 2.91% |
| Eternal Ltd. | 1.79% | 1.27% |
| Solar Industries India Ltd. | 2.19% | 1.21% |
| Dhoot Transmission Ltd. | 1.16% | 1.11% |
| Computer Age Management Services Ltd. | 1.06% | 1.28% |
| Data Patterns (India) Ltd. | 1.06% | 1.08% |
| Sundaram Finance Ltd. | 1.25% | 1.05% |
| ICICI Bank Ltd. | 5.90% | 0.97% |
| AU Small Finance Bank Ltd. | 0.95% | 1.01% |
| One 97 Communications Ltd. | 0.94% | 1.16% |
| Clean Max Enviro Energy Solutions Ltd. | 0.92% | 1.66% |
| Infosys Ltd. | 2.40% | 0.87% |
| Timken India Ltd. | 0.76% | 1.08% |
| JK Cement Ltd. | 0.76% | 1.51% |
| Container Corporation Of India Ltd. | 0.74% | 1.11% |
| V-Guard Industries Ltd. | 0.70% | 0.87% |
| Affle 3i Ltd. | 0.70% | 2.76% |
| MRS Bectors Food Specialities Ltd. | 0.67% | 1.52% |
| Home First Finance Company India Ltd. | 0.65% | 0.90% |
| Blue Star Ltd. | 0.62% | 1.02% |
| BlackBuck Ltd. | 0.62% | 0.95% |
| K.P.R. Mill Ltd. | 0.61% | 1.16% |
| Triveni Turbine Ltd. | 0.57% | 1.05% |
| 360 One Wam Ltd. | 0.55% | 1.48% |
| Amagi Media Labs Ltd. | 0.53% | 2.08% |
| AWFIS Space Solutions Ltd. | 0.34% | 0.25% |
| 364 DAYS TBILL RED 29-10-2026 | 0.14% | 0.14% |
| Dr Agarwal's Eye Hospital Ltd. | 0.22% | 0.01% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 30.3% means 30.3% 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 PGIM India Retirement Fund
| Security | % of fund |
|---|---|
| HDFC Bank Ltd. | 5.51% |
| Reliance Industries Ltd. | 3.18% |
| Tata Consultancy Services Ltd. | 2.10% |
| Bajaj Finance Ltd. | 1.78% |
| Bharti Airtel Ltd. | 1.77% |
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% |
| City Union Bank Ltd. | 2.42% |
| Karur Vysya Bank Ltd. | 2.20% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | PGIM India Retirement | PGIM India Small Cap |
|---|---|---|
| Equity | 96.4% | 96.5% |
| Debt | 0.1% | 0.1% |
| Cash and others | 3.5% | 3.3% |
Market cap of stocks
| Market cap | PGIM India Retirement | PGIM India Small Cap |
|---|---|---|
| Large Cap | 36.9% | 7.3% |
| Mid Cap | 30.1% | 16.0% |
| Small Cap | 26.4% | 65.8% |
| Not on AMFI's list | 2.9% | 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 | PGIM India Retirement | PGIM India Small Cap |
|---|---|---|
| Banks | 12.4% | 7.6% |
| Auto Components | 7.3% | 10.8% |
| Pharmaceuticals & Biotechnology | 8.8% | 5.8% |
| IT - Services | 1.2% | 7.1% |
| Chemicals & Petrochemicals | 4.4% | 5.6% |
| Industrial Products | 3.8% | 5.4% |
| Capital Markets | 4.5% | 4.6% |
| IT - Software | 4.5% | 1.7% |
The six largest sectors of each fund's stocks, % of the fund.
PGIM India Retirement vs PGIM India Small Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | PGIM India Retirement Fund | PGIM India Small Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.12% | 0.95% |
| Base expense ratio (Direct) | 0.85% | 0.59% |
| Total expense ratio (Regular) | 2.59% | 2.38% |
| Base expense ratio (Regular) | 2.10% | 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
PGIM India Retirement Fund vs PGIM India Small Cap Fund: Frequently Asked Questions
What is the difference between PGIM India Retirement Fund and PGIM India Small Cap Fund?
PGIM India Retirement Fund is a Solution fund, PGIM India Small Cap Fund is a Small Cap fund, run by PGIM India Mutual Fund. Their portfolios overlap 30.3%. PGIM India Retirement Fund charges 1.12% a year and PGIM India Small Cap Fund 0.95%.
Which has given higher returns, PGIM India Retirement Fund or PGIM India Small Cap Fund?
Over 1 year: PGIM India Retirement Fund −3.67%, 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, PGIM India Retirement Fund or PGIM India Small Cap Fund?
PGIM India Small Cap Fund charges less: 0.95% a year against 1.12%. These are the Direct plans' total expense ratios reported to AMFI.
How much do PGIM India Retirement Fund and PGIM India Small Cap Fund overlap?
30.3%. They hold 33 of the same securities, the largest shared ones being SAILIFE, MCX, TORNTPHARM. From each fund's latest monthly portfolio.
Which is riskier, PGIM India Retirement Fund or PGIM India Small Cap Fund?
On SEBI's riskometer, PGIM India Retirement Fund is rated Very High and PGIM India Small Cap Fund Very High. Over 1 years, the standard deviation of daily returns was 13.62% and 15.96% a year.
Can I invest in both PGIM India Retirement Fund and PGIM India Small Cap Fund?
Yes. 30.3% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages PGIM India Retirement Fund and PGIM India Small Cap Fund?
PGIM India Retirement Fund: Vinay Paharia, Vivek Sharma, and Mr. Puneet Pal. 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.