Union Small Cap Fund vs UTI Small Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Union Small Cap Fund and UTI Small Cap Fund are both Small Cap funds. In the 3 years to 30-10-2026, Union Small Cap Fund (Direct) returned 14.6% a year and UTI Small Cap Fund (Direct) returned 12.1% a year. Union Small Cap Fund charges 1.10% a year and UTI Small Cap Fund 1.07% (Direct plans). Their portfolios overlap 28.4%: they hold 31 of the same securities.
Which is better, Union Small Cap or UTI 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.
- Union Small Cap returned more over 5 years: 16.2% a year against 13.2%.
- Union Small Cap returned more over 3 years: 14.6% a year against 12.1%.
- UTI Small Cap costs less: 1.07% a year against 1.10% (Direct plans).
- UTI Small Cap swung less over 3 years: a standard deviation of 16.7% a year against 18.8%.
- UTI Small Cap fell less in its worst fall since 23-12-2020: −22.3% against −26.2%.
- UTI Small Cap is the larger fund: ₹5,229 Cr against ₹2,732 Cr.
- Their portfolios overlap 28.4%: 31 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 | Union Small Cap Fund | UTI Small Cap Fund |
|---|---|---|
| Fund house | Union Mutual Fund | UTI Mutual Fund |
| Category | Small Cap | Small Cap |
| AUM | ₹2,732 Cr (30-09-2026) | ₹5,229 Cr (30-09-2026) |
| NAV | ₹62.58 (Direct) | ₹27.67 (Direct) |
| Expense ratio (Direct) | 1.10% | 1.07% |
| Expense ratio (Regular) | 2.17% | 2.03% |
| Riskometer | Very High | Very High |
| Benchmark | BSE 250 Smallcap TRI | Nifty Smallcap 250 TRI |
| Launch date | 10-06-2014 | 22-12-2020 |
| Minimum investment | ₹1,000 | Regular Plan-Growth- Rs.5000, Direct Plan-Growth- Rs.5000, Regular Plan-Payout of IDCW- Rs.5000, Direct Plan-Payout of IDCW- Rs.5000, |
| Lock in | None | None |
| Fund managers | Pratik Dharmshi, Gaurav Chopra | Nitin Jain FM 1 |
| Exit load | Exit load of 1%, if redeemed within 15 days. | Exit load of 1% if redeemed within one year. |
Union Small Cap vs UTI 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 |
|---|---|---|---|---|---|---|---|
| Union Small Cap Fund (Direct) | −5.54% | −1.57% | +6.90% | +11.79% | +14.64% | +16.16% | +16.45% |
| UTI Small Cap Fund (Direct) | −4.69% | −5.91% | −0.33% | −3.03% | +12.11% | +13.24% | -- |
| 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.
Union Small Cap vs UTI Small Cap: Year-wise Returns
| Year | UnionUnion Small Cap | UTIUTI Small Cap |
|---|---|---|
| 2026to date | +15.59% | +1.02% |
| 2025 | −3.61% | −4.19% |
| 2024 | +25.16% | +28.42% |
| 2023 | +42.98% | +37.30% |
| 2022 | −0.03% | +1.18% |
| 2021 | +63.37% | +58.50% |
Union Small Cap vs UTI Small Cap: Rolling Returns
Every holding period of both funds, against BSE 250 SmallCap Index TRI, the benchmark of Union Small Cap Fund
Rolling returns
Every 3-year holding period, 701 of them, one for each trading day from 26-12-2023 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.
Union Small Cap Fund (Direct)
UTI Small Cap Fund (Direct)
BSE 250 SmallCap Index TRI
to
Mar 2024Sept 2021
to
Sept 2024Mar 2022
to
Mar 2025Aug 2022
to
Aug 2025Feb 2023
to
Feb 2026Aug 2023
to
Aug 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Union Small Cap | 0.0 | 0.0 | 0.0 | 3.9 | 37.5 | 44.7 | 14.0 | 21.2% | 20.8% | 11.4% | 33.6% | 29% |
| UTI Small Cap | 0.0 | 0.0 | 0.0 | 6.0 | 41.5 | 30.8 | 21.7 | 20.9% | 20.2% | 11.2% | 32.0% | 15% |
| BSE 250 SmallCap Index TRI | 0.0 | 0.0 | 0.1 | 6.1 | 31.4 | 29.1 | 33.2 | 22.2% | 21.9% | 9.9% | 34.8% | -- |
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 250 SmallCap Index 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 23-12-2020. Past returns do not promise future returns.
Union Small Cap vs UTI 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 01-12-2020 to 30-10-2026: 71 instalments, ₹7,10,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Union Small CapUnion Small Cap Fund (Direct) | ₹7,10,000 | ₹11,90,921 | ₹4,80,921 | 17.4% |
| UTI Small CapUTI Small Cap Fund (Direct) | ₹7,10,000 | ₹10,49,292 | ₹3,39,292 | 13.1% |
Union Small CapUnion Small Cap Fund (Direct)
UTI Small CapUTI 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.
Union Small Cap vs UTI Small Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Union Small Cap Fund (Direct) | UTI Small Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.79% | −3.03% |
| Standard deviation | 19.25% | 16.71% |
| Sharpe ratio | 0.34 | -0.50 |
| Sortino ratio | 0.47 | -0.68 |
| Maximum drawdown | −12.3% (23-03-2026) | −17.7% (23-03-2026) |
| Beta | 1.01 | 0.90 |
| Alpha | +17.02% | −0.73% |
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 | Union Small Cap Fund (Direct) | UTI Small Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +14.64% | +12.11% |
| Standard deviation | 18.80% | 16.75% |
| Sharpe ratio | 0.46 | 0.36 |
| Sortino ratio | 0.61 | 0.49 |
| Maximum drawdown | −26.2% (03-03-2025) | −22.3% (03-03-2025) |
| Beta | 0.96 | 0.85 |
| Alpha | +3.93% | +0.70% |
From daily NAVs, 30-10-2023 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 | Union Small Cap Fund (Direct) | UTI Small Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +16.16% | +13.24% |
| Standard deviation | 17.35% | 15.88% |
| Sharpe ratio | 0.60 | 0.47 |
| Sortino ratio | 0.79 | 0.63 |
| Maximum drawdown | −26.2% (03-03-2025) | −22.3% (03-03-2025) |
| Beta | 0.90 | 0.83 |
| Alpha | +4.58% | +1.41% |
From daily NAVs, 29-10-2021 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 | Union Small Cap Fund (Direct) | UTI Small Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.92% | +19.01% |
| Standard deviation | 16.91% | 15.51% |
| Sharpe ratio | 0.60 | 0.88 |
| Sortino ratio | 0.79 | 1.18 |
| Maximum drawdown | −44.7% (23-03-2020) | −22.3% (03-03-2025) |
| Beta | 0.85 | 0.81 |
| Alpha | +4.15% | +1.33% |
From daily NAVs, 17-06-2014 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.
Union Small Cap Fund (Direct)
UTI Small Cap Fund (Direct)
BSE 250 SmallCap Index TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Union Small Cap Fund (Direct) | −26.2% | 11-12-2024 | 03-03-2025 | 27-04-2026 | 14 months | −9.0% |
| UTI Small Cap Fund (Direct) | −22.3% | 11-12-2024 | 03-03-2025 | 22-06-2026 | 16 months | −9.2% |
| BSE 250 SmallCap Index TRI | −26.4% | 17-01-2022 | 20-06-2022 | 05-06-2023 | 11 months | −11.5% |
From daily values since 23-12-2020, 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.
Union Small Cap Fund (Direct)
UTI Small Cap Fund (Direct)
BSE 250 SmallCap Index TRI
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 3-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Union Small Cap Fund (Direct)
UTI Small Cap Fund (Direct)
BSE 250 SmallCap Index TRI
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 5-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Union Small Cap Fund (Direct)
UTI Small Cap Fund (Direct)
BSE 250 SmallCap Index TRI
Against BSE 250 SmallCap Index TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Union Small Cap Fund (Direct) | 91% | 67% | 7.31% |
| UTI Small Cap Fund (Direct) | 84% | 70% | 6.55% |
From month-end values since 23-12-2020. 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.
Union Small Cap vs UTI Small Cap: Portfolio Overlap
From each fund's latest monthly portfolio: Union Small Cap Fund, September 2026; UTI Small Cap Fund, September 2026
Holdings in common
- Overlap
- 28.4%
- Held by both
- 31
- Only in Union Small Cap
- 55
- Only in UTI Small Cap
- 76
| Security | % of Union Small Cap | % of UTI Small Cap |
|---|---|---|
| Navin Fluorine International Ltd. | 3.40% | 2.50% |
| Karur Vysya Bank Ltd. | 3.06% | 2.41% |
| Acutaas Chemicals Ltd. | 1.94% | 2.52% |
| Ujjivan Small Finance Bank Ltd. | 2.24% | 1.86% |
| City Union Bank Ltd. | 1.65% | 1.89% |
| Radico Khaitan Ltd. | 1.60% | 1.25% |
| Kfin Technologies Ltd. | 1.25% | 1.45% |
| eClerx Services Ltd. | 1.24% | 1.28% |
| Multi Commodity Exchange of India Ltd. | 2.99% | 1.21% |
| Vijaya Diagnostic Centre Ltd. | 1.21% | 1.38% |
| PNB Housing Finance Ltd. | 1.18% | 1.61% |
| Sai Life Sciences Ltd. | 1.76% | 1.05% |
| TD Power Systems Ltd. | 0.98% | 1.25% |
| Inox India Ltd. | 0.75% | 1.24% |
| Brigade Enterprises Ltd. | 0.69% | 1.08% |
| 360 ONE WAM Ltd. | 0.67% | 0.97% |
| Jubilant Ingrevia Ltd. | 0.66% | 1.46% |
| AFFLE 3I Ltd. | 0.66% | 1.71% |
| Craftsman Automation Ltd. | 0.59% | 1.11% |
| ZF Commercial Vehicle Control Systems India Ltd. | 0.64% | 0.57% |
| Krishna Institute of Medical Sciences Ltd. | 1.56% | 0.55% |
| KEI Industries Ltd. | 1.26% | 0.50% |
| Delhivery Ltd. | 0.76% | 0.48% |
| Info Edge (India) Ltd. | 0.48% | 0.91% |
| Gabriel India Ltd. | 3.08% | 0.47% |
| Shiprocket Ltd. | 0.47% | 0.96% |
| Anthem Biosciences Ltd. | 0.40% | 0.50% |
| JK Cement Ltd. | 0.80% | 0.27% |
| MTAR technologies Ltd. | 1.59% | 0.18% |
| Chalet Hotels Ltd. | 0.42% | 0.17% |
| Kirloskar Oil Engines Ltd. | 2.87% | 0.09% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 28.4% means 28.4% 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 Union Small Cap Fund
| Security | % of fund |
|---|---|
| GE Vernova T&D India Ltd. | 2.73% |
| Milky Mist Dairy Food Ltd. | 2.52% |
| S.J.S. Enterprises Ltd. | 2.45% |
| Azad Engineering Ltd. | 2.44% |
| Corona Remedies Ltd. | 2.20% |
Largest holdings only in UTI Small Cap Fund
| Security | % of fund |
|---|---|
| EQ - CAPLIN POINT LABORATORIES LTD | 1.87% |
| EQ - MARKSANS PHARMA LTD. | 1.83% |
| EQ - GREAT EASTERN SHIPPING CO. LTD | 1.81% |
| EQ - ASTER DM QUALITY CARE LIMITED | 1.71% |
| EQ - VOLTAMP TRANSFORMERS LTD. | 1.50% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Union Small Cap | UTI Small Cap |
|---|---|---|
| Equity | 98.4% | 94.3% |
| Debt | 0.1% | 0.0% |
| Cash and others | 1.5% | 5.7% |
Market cap of stocks
| Market cap | Union Small Cap | UTI Small Cap |
|---|---|---|
| Large Cap | 4.0% | 0.0% |
| Mid Cap | 16.4% | 17.0% |
| Small Cap | 71.0% | 74.7% |
| Not on AMFI's list | 7.0% | 2.6% |
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 | Union Small Cap | UTI Small Cap |
|---|---|---|
| Pharmaceuticals & Biotechnology | 9.7% | 11.7% |
| Electrical Equipment | 10.9% | 3.9% |
| Industrial Products | 9.7% | 7.5% |
| Auto Components | 8.8% | 4.7% |
| Capital Markets | 8.1% | 6.7% |
| Banks | 8.0% | 6.2% |
| Healthcare Services | 3.8% | 6.5% |
| Chemicals & Petrochemicals | 5.7% | 5.9% |
The six largest sectors of each fund's stocks, % of the fund.
Union Small Cap vs UTI Small Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Union Small Cap Fund | UTI Small Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.10% | 1.07% |
| Base expense ratio (Direct) | 0.78% | 0.74% |
| Total expense ratio (Regular) | 2.17% | 2.03% |
| Base expense ratio (Regular) | 1.70% | 1.61% |
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 Union Small Cap with
Union Small Cap Fund vs UTI Small Cap Fund: Frequently Asked Questions
What is the difference between Union Small Cap Fund and UTI Small Cap Fund?
Both are Small Cap funds, run by Union Mutual Fund and UTI Mutual Fund. Their portfolios overlap 28.4%. Union Small Cap Fund charges 1.10% a year and UTI Small Cap Fund 1.07%.
Which has given higher returns, Union Small Cap Fund or UTI Small Cap Fund?
Over 1 year: Union Small Cap Fund +11.79%, UTI Small Cap Fund −3.03%. Over 3 years: Union Small Cap Fund +14.64% a year, UTI Small Cap Fund +12.11% a year. Over 5 years: Union Small Cap Fund +16.16% a year, UTI Small Cap Fund +13.24% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Union Small Cap Fund or UTI Small Cap Fund?
UTI Small Cap Fund charges less: 1.07% a year against 1.10%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Union Small Cap Fund and UTI Small Cap Fund overlap?
28.4%. They hold 31 of the same securities, the largest shared ones being NAVINFLUOR, KARURVYSYA, ACUTAAS. From each fund's latest monthly portfolio.
Which is riskier, Union Small Cap Fund or UTI Small Cap Fund?
On SEBI's riskometer, Union Small Cap Fund is rated Very High and UTI Small Cap Fund Very High. Over 3 years, the standard deviation of daily returns was 18.80% and 16.75% a year.
Which is better for SIP, Union Small Cap Fund or UTI Small Cap Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹9,18,770 in Union Small Cap Fund (XIRR 16.1% a year) and ₹8,10,834 in UTI Small Cap Fund (XIRR 11.2% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Union Small Cap Fund and UTI Small Cap Fund?
Yes. 28.4% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Union Small Cap Fund and UTI Small Cap Fund?
Union Small Cap Fund: Pratik Dharmshi, Gaurav Chopra. UTI Small Cap Fund: Nitin Jain FM 1.
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.