TRUSTMF Multi Cap Fund vs TRUSTMF Small Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
TRUSTMF Multi Cap Fund is a Multi Cap fund and TRUSTMF Small Cap Fund is a Small Cap fund. In the year to 30-10-2026, TRUSTMF Multi Cap Fund (Direct) returned 9.5% and TRUSTMF Small Cap Fund (Direct) returned 20.0%. TRUSTMF Multi Cap Fund charges 1.77% a year and TRUSTMF Small Cap Fund 1.47% (Direct plans). Their portfolios overlap 42.9%: they hold 35 of the same securities.
TRUSTMF Multi Cap Fund
Multi Cap
- 1 year return
- 9.5%
- Expense ratio
- 1.77%
- NAV
- ₹11.51
TRUSTMF Small Cap Fund
Small Cap
- 1 year return
- 20.0%
- Expense ratio
- 1.47%
- NAV
- ₹13.33
Which is better, TRUSTMF Multi 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 9.5%.
- TRUSTMF Small Cap costs less: 1.47% a year against 1.77% (Direct plans).
- TRUSTMF Multi Cap fell less in its worst fall since 25-07-2025: −12.7% against −14.0%.
- TRUSTMF Multi Cap holds more in large companies: 30.3% of the fund in large caps against 1.0%.
- TRUSTMF Small Cap is the larger fund: ₹3,877 Cr against ₹914 Cr.
- Their portfolios overlap 42.9%: 35 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 Multi Cap Fund | TRUSTMF Small Cap Fund |
|---|---|---|
| Fund house | Trust Mutual Fund | Trust Mutual Fund |
| Category | Multi Cap | Small Cap |
| AUM | ₹914 Cr (30-09-2026) | ₹3,877 Cr (30-09-2026) |
| NAV | ₹11.51 (Direct) | ₹13.33 (Direct) |
| Expense ratio (Direct) | 1.77% | 1.47% |
| Expense ratio (Regular) | 3.41% | 2.85% |
| Riskometer | Very High | Very High |
| Benchmark | NIFTY 500 Multicap 50:25:25 Total Return Index | Nifty Smallcap 250 TRI |
| Launch date | 21-07-2025 | 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 Multi 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 Multi Cap Fund (Direct) | −1.96% | −0.60% | +8.28% | +9.51% | -- | -- | -- |
| TRUSTMF Small Cap Fund (Direct) | −3.27% | +1.83% | +14.62% | +19.98% | -- | -- | -- |
| Multi Cap average | −2.65% | −3.95% | +1.99% | −1.14% | -- | -- | -- |
| Small Cap average | −5.86% | −3.28% | +5.03% | +3.00% | -- | -- | -- |
Category average: the average of the 33 Multi Cap funds and the 36 Small Cap funds, same plan type.
TRUSTMF Multi Cap vs TRUSTMF Small Cap: Year-wise Returns
| Year | MultiTRUSTMF Multi Cap | SmallTRUSTMF Small Cap |
|---|---|---|
| 2026to date | +9.10% | +22.18% |
| 2025 | -- | +1.11% |
TRUSTMF Multi Cap vs TRUSTMF Small Cap: Rolling Returns
Every holding period of both funds, against Nifty500 Multicap 50:25:25 TRI, the benchmark of TRUSTMF Multi Cap Fund
Rolling returns
Every 1-year holding period, 65 of them, one for each trading day from 27-07-2026 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.
TRUSTMF Multi Cap Fund (Direct)
TRUSTMF Small Cap Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
to
Aug 2026Aug 2025
to
Aug 2026Sept 2025
to
Sept 2026Sept 2025
to
Sept 2026Oct 2025
to
Oct 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 Multi Cap | 0.0 | 0.0 | 9.2 | 18.5 | 38.5 | 33.8 | 0.0 | 17.2% | 17.8% | 6.5% | 24.4% | 100% |
| TRUSTMF Small Cap | 0.0 | 0.0 | 0.0 | 0.0 | 6.2 | 4.6 | 89.2 | 30.1% | 31.0% | 16.4% | 36.4% | 100% |
| Nifty500 Multicap 50:25:25 TRI | 32.3 | 36.9 | 30.8 | 0.0 | 0.0 | 0.0 | 0.0 | 2.0% | 2.6% | −7.6% | 8.5% | -- |
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 Nifty500 Multicap 50:25:25 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 25-07-2025. Past returns do not promise future returns.
TRUSTMF Multi 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 25-07-2025 to 30-10-2026: 16 instalments, ₹1,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| TRUSTMF Multi CapTRUSTMF Multi Cap Fund (Direct) | ₹1,60,000 | ₹1,73,229 | ₹13,229 | 11.9% |
| TRUSTMF Small CapTRUSTMF Small Cap Fund (Direct) | ₹1,60,000 | ₹1,87,507 | ₹27,507 | 24.7% |
TRUSTMF Multi CapTRUSTMF Multi 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 Multi 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 Multi Cap Fund (Direct) | TRUSTMF Small Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.51% | +19.98% |
| Standard deviation | 15.55% | 17.68% |
| Sharpe ratio | 0.27 | 0.83 |
| Sortino ratio | 0.37 | 1.15 |
| Maximum drawdown | −12.7% (23-03-2026) | −14.0% (23-03-2026) |
| Beta | 0.97 | 0.91 |
| Alpha | +15.19% | +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 Multi Cap Fund (Direct) | TRUSTMF Small Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.58% | +15.26% |
| Standard deviation | 14.37% | 18.55% |
| Sharpe ratio | 0.44 | 0.52 |
| Sortino ratio | 0.59 | 0.70 |
| Maximum drawdown | −12.7% (23-03-2026) | −24.0% (03-03-2025) |
| Beta | 0.95 | 0.92 |
| Alpha | +13.60% | +16.77% |
From daily NAVs, 25-07-2025 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.
TRUSTMF Multi Cap Fund (Direct)
TRUSTMF Small Cap Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| TRUSTMF Multi Cap Fund (Direct) | −12.7% | 17-11-2025 | 23-03-2026 | 06-05-2026 | 44 days | −6.7% |
| TRUSTMF Small Cap Fund (Direct) | −14.0% | 17-11-2025 | 23-03-2026 | 22-04-2026 | 30 days | −6.5% |
| Nifty500 Multicap 50:25:25 TRI | −14.6% | 02-01-2026 | 30-03-2026 | 06-07-2026 | 3 months | −8.0% |
From daily values since 25-07-2025, 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.
TRUSTMF Multi Cap Fund (Direct)
TRUSTMF Small Cap Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
Against Nifty500 Multicap 50:25:25 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| TRUSTMF Multi Cap Fund (Direct) | 156% | 86% | 5.31% |
| TRUSTMF Small Cap Fund (Direct) | 195% | 79% | 9.07% |
From month-end values since 25-07-2025. 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.
TRUSTMF Multi Cap vs TRUSTMF Small Cap: Portfolio Overlap
From each fund's latest monthly portfolio: TRUSTMF Multi Cap Fund, September 2026; TRUSTMF Small Cap Fund, September 2026
Holdings in common
- Overlap
- 42.9%
- Held by both
- 35
- Only in TRUSTMF Multi Cap
- 37
- Only in TRUSTMF Small Cap
- 37
| Security | % of TRUSTMF Multi Cap | % of TRUSTMF Small Cap |
|---|---|---|
| Lenskart Solutions Limited | 2.55% | 2.40% |
| Multi Commodity Exchange of India Limited | 2.67% | 2.12% |
| Laurus Labs Limited | 1.96% | 1.81% |
| Dixon Technologies (India) Limited | 2.21% | 1.75% |
| Welspun Corp Limited | 1.65% | 1.93% |
| Sansera Engineering Limited | 1.62% | 2.16% |
| Radico Khaitan Limited | 1.61% | 1.57% |
| Jyoti CNC Automation Ltd | 1.48% | 2.05% |
| Shadowfax Technologies Limited | 1.40% | 2.13% |
| Clean Max Enviro Energy Solutions Limited | 1.28% | 1.40% |
| Aeroflex Industries Limited | 1.26% | 1.24% |
| Senores Pharmaceuticals Limited | 1.25% | 1.24% |
| Ather Energy Limited | 1.19% | 1.40% |
| Karur Vysya Bank Limited | 1.19% | 2.12% |
| Diamond Power Infra Limited | 1.41% | 1.18% |
| Navin Fluorine International Limited | 1.17% | 1.79% |
| Avalon Technologies Limited | 1.17% | 1.34% |
| Shaily Engineering Plastics Limited | 1.14% | 1.29% |
| Aster DM Quality Care Limited | 1.13% | 1.64% |
| The Federal Bank Limited | 1.13% | 1.19% |
| Milky Mist Dairy Food Limited | 1.38% | 1.10% |
| Honasa Consumer Limited | 1.08% | 1.39% |
| Indo-MIM Limited | 1.07% | 1.07% |
| Neuland Laboratories Limited | 1.05% | 1.19% |
| RBL Bank Limited | 1.01% | 2.24% |
| Eternal Limited | 2.63% | 1.00% |
| Nippon Life India Asset Management Limited | 1.26% | 0.99% |
| Coforge Limited | 1.18% | 0.93% |
| Zen Technologies Limited | 1.04% | 0.92% |
| One 97 Communications Limited | 0.91% | 0.88% |
| Paradeep Phosphates Limited | 0.88% | 0.91% |
| S.J.S. Enterprises Limited | 0.88% | 1.04% |
| Paras Defence and Space Technologies Limited | 0.80% | 0.97% |
| Sterlite Technologies Limited | 0.78% | 1.01% |
| Kirloskar Oil Engines Limited | 0.68% | 1.50% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 42.9% means 42.9% 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 Multi Cap Fund
| Security | % of fund |
|---|---|
| ICICI Bank Limited | 4.02% |
| Aurobindo Pharma Limited | 2.05% |
| Titan Company Limited | 2.00% |
| Kotak Mahindra Bank Limited | 1.96% |
| Samvardhana Motherson International Limited | 1.73% |
Largest holdings only in TRUSTMF Small Cap Fund
| Security | % of fund |
|---|---|
| VA Tech Wabag Limited | 1.95% |
| Sky Gold And Diamonds Limited | 1.74% |
| Redington Limited | 1.70% |
| Gland Pharma Limited | 1.68% |
| Sona BLW Precision Forgings Limited | 1.63% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | TRUSTMF Multi Cap | TRUSTMF Small Cap |
|---|---|---|
| Equity | 92.0% | 94.2% |
| Debt | 0.0% | 0.0% |
| Cash and others | 8.0% | 5.8% |
Market cap of stocks
| Market cap | TRUSTMF Multi Cap | TRUSTMF Small Cap |
|---|---|---|
| Large Cap | 30.3% | 1.0% |
| Mid Cap | 26.5% | 19.0% |
| Small Cap | 30.6% | 67.6% |
| Not on AMFI's list | 4.7% | 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 Multi Cap | TRUSTMF Small Cap |
|---|---|---|
| Banks | 12.5% | 7.2% |
| Pharmaceuticals & Biotechnology | 9.7% | 11.8% |
| Retailing | 8.0% | 4.9% |
| Auto Components | 6.1% | 7.6% |
| Industrial Products | 4.2% | 7.3% |
| Electrical Equipment | 6.1% | 6.8% |
| Consumer Durables | 6.5% | 5.6% |
The six largest sectors of each fund's stocks, % of the fund.
TRUSTMF Multi Cap vs TRUSTMF Small Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | TRUSTMF Multi Cap Fund | TRUSTMF Small Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.77% | 1.47% |
| Base expense ratio (Direct) | 0.51% | 0.42% |
| Total expense ratio (Regular) | 3.41% | 2.85% |
| Base expense ratio (Regular) | 1.95% | 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 Multi Cap with
TRUSTMF Multi Cap Fund vs TRUSTMF Small Cap Fund: Frequently Asked Questions
What is the difference between TRUSTMF Multi Cap Fund and TRUSTMF Small Cap Fund?
TRUSTMF Multi Cap Fund is a Multi Cap fund, TRUSTMF Small Cap Fund is a Small Cap fund, run by Trust Mutual Fund. Their portfolios overlap 42.9%. TRUSTMF Multi Cap Fund charges 1.77% a year and TRUSTMF Small Cap Fund 1.47%.
Which has given higher returns, TRUSTMF Multi Cap Fund or TRUSTMF Small Cap Fund?
Over 1 year: TRUSTMF Multi Cap Fund +9.51%, 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 Multi Cap Fund or TRUSTMF Small Cap Fund?
TRUSTMF Small Cap Fund charges less: 1.47% a year against 1.77%. These are the Direct plans' total expense ratios reported to AMFI.
How much do TRUSTMF Multi Cap Fund and TRUSTMF Small Cap Fund overlap?
42.9%. They hold 35 of the same securities, the largest shared ones being LENSKART, MCX, LAURUSLABS. From each fund's latest monthly portfolio.
Which is riskier, TRUSTMF Multi Cap Fund or TRUSTMF Small Cap Fund?
On SEBI's riskometer, TRUSTMF Multi Cap Fund is rated Very High and TRUSTMF Small Cap Fund Very High. Over 1 years, the standard deviation of daily returns was 15.55% and 17.68% a year.
Can I invest in both TRUSTMF Multi Cap Fund and TRUSTMF Small Cap Fund?
Yes. 42.9% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages TRUSTMF Multi Cap Fund and TRUSTMF Small Cap Fund?
TRUSTMF Multi 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.