TRUSTMF Flexi Cap Fund vs TRUSTMF Small Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
TRUSTMF Flexi Cap Fund is a Flexi Cap fund and TRUSTMF Small Cap Fund is a Small Cap fund. In the year to 30-10-2026, TRUSTMF Flexi Cap Fund (Direct) returned 3.6% and TRUSTMF Small Cap Fund (Direct) returned 20.0%. TRUSTMF Flexi Cap Fund charges 1.74% a year and TRUSTMF Small Cap Fund 1.47% (Direct plans). Their portfolios overlap 30.1%: they hold 26 of the same securities.
TRUSTMF Flexi Cap Fund
Flexi Cap
- 1 year return
- 3.6%
- Expense ratio
- 1.74%
- NAV
- ₹12.34
TRUSTMF Small Cap Fund
Small Cap
- 1 year return
- 20.0%
- Expense ratio
- 1.47%
- NAV
- ₹13.33
Which is better, TRUSTMF Flexi Cap or TRUSTMF 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.
- TRUSTMF Small Cap returned more over 1 year: 20.0% against 3.6%.
- TRUSTMF Small Cap costs less: 1.47% a year against 1.74% (Direct plans).
- TRUSTMF Flexi Cap fell less in its worst fall since 05-11-2024: −18.9% against −24.0%.
- TRUSTMF Flexi Cap holds more in large companies: 48.2% of the fund in large caps against 1.0%.
- TRUSTMF Small Cap is the larger fund: ₹3,877 Cr against ₹1,006 Cr.
- Their portfolios overlap 30.1%: 26 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 | TRUSTMF Flexi Cap Fund | TRUSTMF Small Cap Fund |
|---|---|---|
| Fund house | Trust Mutual Fund | Trust Mutual Fund |
| Category | Flexi Cap | Small Cap |
| AUM | ₹1,006 Cr (30-09-2026) | ₹3,877 Cr (30-09-2026) |
| NAV | ₹12.34 (Direct) | ₹13.33 (Direct) |
| Expense ratio (Direct) | 1.74% | 1.47% |
| Expense ratio (Regular) | 3.19% | 2.85% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | Nifty Smallcap 250 TRI |
| Launch date | 26-04-2024 | 04-11-2024 |
| Minimum investment | ₹1,000 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Mihir Vora, Aakash Manghani | Mihir Vora, Aakash Manghani |
| Exit load | 1% - If redeemed/switched out within 180 days from the date of allotment. Nil - if redeemed/switched out after 180 days from the date of allotment. | 1% - If redeemed/switched out within 180 days from the date of allotment. Nil - if redeemed/switched out after 180 days from the date of allotment. |
TRUSTMF Flexi Cap vs TRUSTMF 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 |
|---|---|---|---|---|---|---|---|
| TRUSTMF Flexi Cap Fund (Direct) | −0.96% | −0.24% | +7.40% | +3.61% | -- | -- | -- |
| TRUSTMF Small Cap Fund (Direct) | −3.27% | +1.83% | +14.62% | +19.98% | -- | -- | -- |
| Flexi Cap average | −1.62% | −4.17% | +1.00% | −3.58% | -- | -- | -- |
| Small Cap average | −5.86% | −3.28% | +5.03% | +3.00% | -- | -- | -- |
Category average: the average of the 46 Flexi Cap funds and the 36 Small Cap funds, same plan type.
TRUSTMF Flexi Cap vs TRUSTMF Small Cap: Year-wise Returns
| Year | FlexiTRUSTMF Flexi Cap | SmallTRUSTMF Small Cap |
|---|---|---|
| 2026to date | +3.78% | +22.18% |
| 2025 | −2.46% | +1.11% |
TRUSTMF Flexi Cap vs TRUSTMF Small Cap: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of TRUSTMF Flexi Cap Fund
Rolling returns
Every 1-year holding period, 242 of them, one for each trading day from 06-11-2025 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.
TRUSTMF Flexi Cap Fund (Direct)
TRUSTMF Small Cap Fund (Direct)
Nifty 500 TRI
to
Dec 2025Feb 2025
to
Feb 2026Apr 2025
to
Apr 2026Jun 2025
to
Jun 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| TRUSTMF Flexi Cap | 16.9 | 36.4 | 30.6 | 16.1 | 0.0 | 0.0 | 0.0 | 4.7% | 4.7% | −6.0% | 14.7% | 54% |
| TRUSTMF Small Cap | 3.3 | 10.3 | 8.7 | 9.1 | 11.2 | 23.1 | 34.3 | 19.5% | 21.9% | −2.0% | 36.4% | 84% |
| Nifty 500 TRI | 24.4 | 33.1 | 30.6 | 9.5 | 2.5 | 0.0 | 0.0 | 3.8% | 3.4% | −9.0% | 15.9% | -- |
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 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 05-11-2024. Past returns do not promise future returns.
TRUSTMF Flexi Cap vs TRUSTMF 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 04-11-2024 to 30-10-2026: 24 instalments, ₹2,40,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| TRUSTMF Flexi CapTRUSTMF Flexi Cap Fund (Direct) | ₹2,40,000 | ₹2,55,184 | ₹15,184 | 6.0% |
| TRUSTMF Small CapTRUSTMF Small Cap Fund (Direct) | ₹2,40,000 | ₹2,97,773 | ₹57,773 | 22.4% |
TRUSTMF Flexi CapTRUSTMF Flexi Cap Fund (Direct)
TRUSTMF Small CapTRUSTMF 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.
TRUSTMF Flexi Cap vs TRUSTMF Small Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | TRUSTMF Flexi Cap Fund (Direct) | TRUSTMF Small Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +3.61% | +19.98% |
| Standard deviation | 14.62% | 17.68% |
| Sharpe ratio | -0.11 | 0.83 |
| Sortino ratio | -0.15 | 1.15 |
| Maximum drawdown | −13.8% (30-03-2026) | −14.0% (23-03-2026) |
| Beta | 0.95 | 0.91 |
| Alpha | +10.38% | +22.38% |
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 | TRUSTMF Flexi Cap Fund (Direct) | TRUSTMF Small Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.68% | +15.26% |
| Standard deviation | 15.77% | 18.55% |
| Sharpe ratio | 0.18 | 0.52 |
| Sortino ratio | 0.24 | 0.70 |
| Maximum drawdown | −18.9% (07-04-2025) | −24.0% (03-03-2025) |
| Beta | 1.01 | 0.92 |
| Alpha | +5.95% | +16.77% |
From daily NAVs, 29-04-2024 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.
TRUSTMF Flexi Cap Fund (Direct)
TRUSTMF Small Cap Fund (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| TRUSTMF Flexi Cap Fund (Direct) | −18.9% | 16-12-2024 | 07-04-2025 | 31-07-2026 | 16 months | −5.8% |
| TRUSTMF Small Cap Fund (Direct) | −24.0% | 03-01-2025 | 03-03-2025 | 23-10-2025 | 8 months | −6.5% |
| Nifty 500 TRI | −14.7% | 13-12-2024 | 28-02-2025 | 09-06-2025 | 3 months | −8.4% |
From daily values since 05-11-2024, 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.
TRUSTMF Flexi Cap Fund (Direct)
TRUSTMF Small Cap Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| TRUSTMF Flexi Cap Fund (Direct) | 107% | 92% | 6.93% |
| TRUSTMF Small Cap Fund (Direct) | 161% | 86% | 13.63% |
From month-end values since 05-11-2024. 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.
TRUSTMF Flexi Cap vs TRUSTMF Small Cap: Portfolio Overlap
From each fund's latest monthly portfolio: TRUSTMF Flexi Cap Fund, September 2026; TRUSTMF Small Cap Fund, September 2026
Holdings in common
- Overlap
- 30.1%
- Held by both
- 26
- Only in TRUSTMF Flexi Cap
- 33
- Only in TRUSTMF Small Cap
- 46
| Security | % of TRUSTMF Flexi Cap | % of TRUSTMF Small Cap |
|---|---|---|
| Lenskart Solutions Limited | 2.37% | 2.40% |
| Multi Commodity Exchange of India Limited | 1.98% | 2.12% |
| Dixon Technologies (India) Limited | 2.28% | 1.75% |
| Clean Max Enviro Energy Solutions Limited | 1.51% | 1.40% |
| Jyoti CNC Automation Ltd | 1.37% | 2.05% |
| Laurus Labs Limited | 1.35% | 1.81% |
| Sky Gold And Diamonds Limited | 1.31% | 1.74% |
| RBL Bank Limited | 1.31% | 2.24% |
| Radico Khaitan Limited | 1.25% | 1.57% |
| Data Patterns (India) Limited | 1.20% | 1.22% |
| The Federal Bank Limited | 1.22% | 1.19% |
| Hindustan Copper Limited | 1.22% | 1.16% |
| Navin Fluorine International Limited | 1.15% | 1.79% |
| Milky Mist Dairy Food Limited | 2.27% | 1.10% |
| Shaily Engineering Plastics Limited | 1.03% | 1.29% |
| Eternal Limited | 3.53% | 1.00% |
| Paras Defence and Space Technologies Limited | 1.11% | 0.97% |
| Honasa Consumer Limited | 0.97% | 1.39% |
| Zen Technologies Limited | 1.03% | 0.92% |
| Diamond Power Infra Limited | 0.92% | 1.18% |
| One 97 Communications Limited | 1.02% | 0.88% |
| Sansera Engineering Limited | 0.83% | 2.16% |
| Senores Pharmaceuticals Limited | 0.81% | 1.24% |
| PhysicsWallah Limited | 0.76% | 0.88% |
| Sterlite Technologies Limited | 0.60% | 1.01% |
| Cemindia Projects Ltd | 0.47% | 1.13% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 30.1% means 30.1% 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 TRUSTMF Flexi Cap Fund
| Security | % of fund |
|---|---|
| ICICI Bank Limited | 6.17% |
| Bharti Airtel Limited | 3.56% |
| Titan Company Limited | 3.27% |
| Kotak Mahindra Bank Limited | 3.10% |
| Bajaj Finance Limited | 2.44% |
Largest holdings only in TRUSTMF Small Cap Fund
| Security | % of fund |
|---|---|
| Shadowfax Technologies Limited | 2.13% |
| Karur Vysya Bank Limited | 2.12% |
| VA Tech Wabag Limited | 1.95% |
| Welspun Corp Limited | 1.93% |
| Redington Limited | 1.70% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | TRUSTMF Flexi Cap | TRUSTMF Small Cap |
|---|---|---|
| Equity | 92.3% | 94.2% |
| Debt | 0.0% | 0.0% |
| Cash and others | 7.7% | 5.8% |
Market cap of stocks
| Market cap | TRUSTMF Flexi Cap | TRUSTMF Small Cap |
|---|---|---|
| Large Cap | 48.2% | 1.0% |
| Mid Cap | 19.7% | 19.0% |
| Small Cap | 19.1% | 67.6% |
| Not on AMFI's list | 5.3% | 6.6% |
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 | TRUSTMF Flexi Cap | TRUSTMF Small Cap |
|---|---|---|
| Banks | 17.3% | 7.2% |
| Pharmaceuticals & Biotechnology | 5.6% | 11.8% |
| Consumer Durables | 9.3% | 5.6% |
| Aerospace & Defense | 8.0% | 3.1% |
| Auto Components | 2.5% | 7.6% |
| Industrial Products | 0.0% | 7.3% |
| Retailing | 6.9% | 4.9% |
| Electrical Equipment | 1.9% | 6.8% |
| Finance | 6.3% | 3.1% |
| Non - Ferrous Metals | 5.6% | 1.2% |
The six largest sectors of each fund's stocks, % of the fund.
TRUSTMF Flexi Cap vs TRUSTMF Small Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | TRUSTMF Flexi Cap Fund | TRUSTMF Small Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.74% | 1.47% |
| Base expense ratio (Direct) | 0.64% | 0.42% |
| Total expense ratio (Regular) | 3.19% | 2.85% |
| Base expense ratio (Regular) | 1.91% | 1.64% |
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 TRUSTMF Flexi Cap with
TRUSTMF Flexi Cap Fund vs TRUSTMF Small Cap Fund: Frequently Asked Questions
What is the difference between TRUSTMF Flexi Cap Fund and TRUSTMF Small Cap Fund?
TRUSTMF Flexi Cap Fund is a Flexi Cap fund, TRUSTMF Small Cap Fund is a Small Cap fund, run by Trust Mutual Fund. Their portfolios overlap 30.1%. TRUSTMF Flexi Cap Fund charges 1.74% a year and TRUSTMF Small Cap Fund 1.47%.
Which has given higher returns, TRUSTMF Flexi Cap Fund or TRUSTMF Small Cap Fund?
Over 1 year: TRUSTMF Flexi Cap Fund +3.61%, TRUSTMF Small Cap Fund +19.98%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, TRUSTMF Flexi Cap Fund or TRUSTMF Small Cap Fund?
TRUSTMF Small Cap Fund charges less: 1.47% a year against 1.74%. These are the Direct plans' total expense ratios reported to AMFI.
How much do TRUSTMF Flexi Cap Fund and TRUSTMF Small Cap Fund overlap?
30.1%. They hold 26 of the same securities, the largest shared ones being LENSKART, MCX, DIXON. From each fund's latest monthly portfolio.
Which is riskier, TRUSTMF Flexi Cap Fund or TRUSTMF Small Cap Fund?
On SEBI's riskometer, TRUSTMF Flexi Cap Fund is rated Very High and TRUSTMF Small Cap Fund Very High. Over 1 years, the standard deviation of daily returns was 14.62% and 17.68% a year.
Can I invest in both TRUSTMF Flexi Cap Fund and TRUSTMF Small Cap Fund?
Yes. 30.1% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages TRUSTMF Flexi Cap Fund and TRUSTMF Small Cap Fund?
TRUSTMF Flexi Cap Fund: Mihir Vora, Aakash Manghani. TRUSTMF Small Cap Fund: Mihir Vora, Aakash Manghani.
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.