HDFC Small Cap Fund

Small CapDirect and Regular plans, Growth and IDCW options

Data as on 30-10-2026

HDFC Small Cap Fund is a Small Cap fund run by HDFC Mutual Fund. On 30-09-2026, it managed ₹40,801 Cr of investors' money. In the 3 years to 30-10-2026, its Direct plan returned 8.9% a year and its Regular plan returned 8.0% a year. Its benchmark, BSE 250 SmallCap Index TRI, returned 10.9% a year over the same 3 years.

NAV (Direct plan): ₹148.62; ▼ 1.82%30-10-2026
NAV (Regular plan): ₹129.33; ▼ 1.83%30-10-2026
Expense ratio: 0.80%Direct1.57%Regular; 0.80%; A year
Riskometer: Very High; Set by the fund house
3 year return: 8.9%Direct8.0%Regular; 8.9%; A year

HDFC Small Cap Fund NAV Today

NAV on 30-10-2026: Direct Plan Growth ₹148.62 (down 1.82% that day); Regular Plan Growth ₹129.33 (down 1.83% that day).

This fund (Direct plan)

₹148.615

HDFC Small Cap Fund Returns vs BSE 250 SmallCap Index TRI

Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.

Trailing returns
Period	1M	3M	6M	1Y	3Y	5Y	10Y
This fund (Direct)	−4.90%	−7.14%	−1.36%	−9.85%	+8.90%	+13.07%	+16.39%
This fund (Regular)	−4.96%	−7.32%	−1.75%	−10.58%	+7.96%	+12.06%	+15.20%
BSE 250 SmallCap Index TRI	−6.23%	−6.49%	−1.16%	−5.16%	+10.88%	+12.21%	+13.22%
Small Cap average	−5.86%	−3.28%	+5.03%	+3.00%	+14.03%	+14.51%	+16.19%
Best in Small Cap	−2.98%	+10.76%	+19.23%	+19.98%	+22.07%	+18.46%	+19.94%
Worst in Small Cap	−11.16%	−7.95%	−4.62%	−10.42%	+8.13%	+10.69%	+12.47%
Rank in Small Cap	8/36	32/36	34/36	30/31	23/24	14/21	6/12

Category rows compare the Direct plans of 36 Small Cap funds. Rank 1 is the highest return.

HDFC Small Cap Fund Year-wise Returns

Return of each calendar year
Year	Direct	Regular	BSE 250 SmallCap Index TRI
2026to date	−5.88%	−6.50%	−1.15%
2025	+0.25%	−0.58%	−5.17%
2024	+21.54%	+20.41%	+25.11%
2023	+46.17%	+44.84%	+47.26%
2022	+5.64%	+4.59%	−1.02%
2021	+66.49%	+64.88%	+59.11%

HDFC Small Cap Fund Rolling Returns

The return of every holding period in the fund's history, not only the one that ends today

Rolling returns

Each point is the yearly return of one 3-year holding period, plotted on the day it ended. There are 2,299 periods, one for each trading day from 30-06-2017 to 30-10-2026.

−20%0%20%40%60%

Mar 2015
to
Mar 2018Oct 2016
to
Oct 2019May 2018
to
May 2021Jan 2020
to
Jan 2023Aug 2021
to
Aug 2024Jan 2023
to
Jan 2026

HDFC Small Cap Fund (Direct)BSE 250 SmallCap Index TRI

Every holding period at a glance

Period	Periods	Median	Lowest	Highest	With a loss	Benchmark median	Beat benchmark
1 year	2,792	12.5%	−43.6%	126.3%	23%	6.8%	66%
2 years	2,545	21.2%	−24.5%	73.3%	12%	16.4%	72%
3 years	2,299	20.9%	−8.8%	49.7%	5%	17.4%	82%
5 years	1,807	18.6%	0.4%	39.5%	0%	14.9%	94%
7 years	1,314	19.5%	14.8%	23.7%	0%	15.2%	94%
10 years	576	19.3%	16.3%	22.3%	0%	15.5%	100%

Every SIP holding period at a glance

Period	Periods	Median	Lowest	Highest	With a loss	Benchmark median	Beat benchmark
1 year	137	15.5%	−57.3%	116.9%	25%	9.7%	65%
2 years	125	20.1%	−38.5%	70.7%	13%	15.2%	63%
3 years	113	23.6%	−26.7%	43.7%	12%	20.9%	68%
5 years	89	21.8%	−9.5%	37.2%	4%	19.1%	92%
7 years	65	22.2%	16.2%	28.7%	0%	19.1%	98%
10 years	29	21.0%	17.1%	24.4%	0%	18.1%	100%

Lumpsum: the yearly rate (CAGR) from the NAV on a period's first day to the NAV on its last. SIP: the XIRR of the monthly instalments and their value on the last day. "With a loss" counts the periods that ended below the money put in. "Beat benchmark" counts the periods in which the fund did better than BSE 250 SmallCap Index TRI over the same days. Past returns do not promise future returns.

HDFC Small Cap Fund Risk

How much it swings, and the falls an investor had to sit through

Risk and return

Measure	HDFC Small Cap Fund (Direct)This fund	BSE 250 SmallCap Index TRI
Return (CAGR)	−9.85%	−5.16%
Standard deviation	15.23%	17.84%
Sharpe ratio	-0.99	-0.58
Sortino ratio	-1.34	-0.79
Maximum drawdown	−18.0% (30-03-2026)	−19.0% (23-03-2026)
Beta	0.81	1.00
Alpha	−6.64%	0.00%

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: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.

Measure	HDFC Small Cap Fund (Direct)This fund	BSE 250 SmallCap Index TRI
Return (CAGR)	+8.90%	+10.88%
Standard deviation	15.83%	18.52%
Sharpe ratio	0.18	0.26
Sortino ratio	0.24	0.35
Maximum drawdown	−22.6% (03-03-2025)	−26.2% (03-03-2025)
Beta	0.82	1.00
Alpha	−1.13%	0.00%

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: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.

Measure	HDFC Small Cap Fund (Direct)This fund	BSE 250 SmallCap Index TRI
Return (CAGR)	+13.07%	+12.21%
Standard deviation	15.91%	18.06%
Sharpe ratio	0.46	0.35
Sortino ratio	0.61	0.46
Maximum drawdown	−22.6% (03-03-2025)	−26.4% (20-06-2022)
Beta	0.84	1.00
Alpha	+1.86%	0.00%

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: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.

Measure	HDFC Small Cap Fund (Direct)This fund	BSE 250 SmallCap Index TRI
Return (CAGR)	+16.39%	+13.22%
Standard deviation	16.38%	18.80%
Sharpe ratio	0.67	0.42
Sortino ratio	0.89	0.54
Maximum drawdown	−48.3% (24-03-2020)	−58.8% (24-03-2020)
Beta	0.83	1.00
Alpha	+4.50%	0.00%

From daily NAVs, 28-10-2016 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: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.

Measure	HDFC Small Cap Fund (Direct)This fund	BSE 250 SmallCap Index TRI
Return (CAGR)	+17.07%	+12.67%
Standard deviation	16.21%	18.73%
Sharpe ratio	0.70	0.37
Sortino ratio	0.92	0.47
Maximum drawdown	−48.3% (24-03-2020)	−58.8% (24-03-2020)
Beta	0.82	1.00
Alpha	+5.62%	0.00%

From daily NAVs, 30-06-2014 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: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.

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.

−60%−50%−40%−30%−20%−10%0%

201520172019202120232025

HDFC Small Cap Fund (Direct)BSE 250 SmallCap Index TRI

	Worst fall	High before it	Bottom	Back at the high	Time to climb back	Below its high today
HDFC Small Cap Fund (Direct)	−48.3%	30-04-2018	24-03-2020	04-01-2021	9 months	−10.4%
BSE 250 SmallCap Index TRI	−58.8%	15-01-2018	24-03-2020	03-03-2021	11 months	−11.5%

From the Direct plan's daily NAV since 30-06-2014, adjusted for unit splits, and BSE 250 SmallCap Index TRI over the same days. "Time to climb back" runs from the bottom to the first day back at the old high.

HDFC Small Cap Fund vs Other Small Cap Funds

The five Small Cap funds with the best three year return, and this fund. Direct plans.

Fund name	Rank	AUM (Cr)	Exp. ratio	1Y return	3Y return	3Y alpha	3Y beta	3Y Sharpe	3Y Sortino
ITI Small Cap Fund	1/24	3,666	0.84%	+11.05%	+22.07%	+9.83%	0.98	0.83	1.12	Compare
Bandhan Small Cap Fund	2/24	34,176	0.65%	+0.99%	+21.67%	+11.21%	0.91	0.90	1.23	Compare
Invesco India Small cap Fund	3/24	16,131	0.64%	+6.15%	+20.29%	+9.79%	0.92	0.80	1.09	Compare
Bank of India Small Cap Fund	4/24	3,671	0.81%	+16.64%	+18.62%	+6.63%	0.94	0.67	0.90	Compare
Mahindra Manulife Small Cap Fund	5/24	5,373	0.93%	+6.31%	+18.00%	+7.33%	0.96	0.66	0.88	Compare
HDFC Small Cap Fund	23/24	40,801	0.80%	−9.85%	+8.90%	−1.13%	0.82	0.18	0.24

AUM is each fund's size at the end of its last reported month, from its own portfolio file. We calculate the risk ratios from daily NAVs over the last three years. The risk-free return is what NSE's overnight rate index earned over the same years. Alpha and beta compare each fund with its own benchmark's TRI. "--" means we have no figure: for alpha and beta, no daily series for that benchmark.

HDFC Small Cap Fund Expense Ratio and Costs

What each plan charges a year, in force from 21-10-2026

Plan	Base expense ratio	Brokerage	Transaction costs	Levies and GST	Total expense ratio	Small Cap median	Cost rank (1 = cheapest)
Direct	0.65%	0.01%	0.00%	0.14%	0.80%	0.91%	11/36
Regular	1.30%	0.01%	0.00%	0.26%	1.57%	2.06%	2/36

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, the cost of executing trades, and statutory levies with GST. From AMFI's expense ratio file. Cost rank: where this plan comes when the Small Cap funds' plans of the same type are sorted from the lowest total expense ratio to the highest.

Direct vs Regular: what the gap cost

Both plans own the same portfolio, so the difference in what they earned is the Regular plan's extra cost, taken out of its NAV.

Over the last	Regular	Direct	Direct earned more by	₹1 lakh became (Regular)	₹1 lakh became (Direct)
1 year	−10.58%	−9.85%	0.73%	₹89,420	₹90,150
3 years	7.96%	8.90%	0.94% a year	₹1,25,831	₹1,29,147
5 years	12.06%	13.07%	1.01% a year	₹1,76,707	₹1,84,815
10 years	15.20%	16.39%	1.19% a year	₹4,11,647	₹4,56,201

Returns over more than 1 year are a rate a year (CAGR). ₹1 lakh invested once at the start of each period, valued on the last NAV.

HDFC Small Cap Fund SIP Calculator

What a one-time or monthly investment in this fund would be worth today, from its own NAV history

Growth of an investment

Every month₹

Step up each year

PeriodFor

₹10,000 on the first trading day of every month, from 30-06-2014 to 30-10-2026: 149 instalments, ₹14,90,000 in all.

Investment	Invested	Value now	Gain	Return a year
Direct planHDFC Small Cap Fund (Direct)	₹14,90,000	₹45,03,728	₹30,13,728	16.6%
Regular planHDFC Small Cap Fund (Regular)	₹14,90,000	₹41,48,392	₹26,58,392	15.4%
BSE 250 SmallCap Index TRI	₹14,90,000	₹38,32,739	₹23,42,739	14.3%
Category averageCategory average, 36 Small Cap funds	₹14,90,000	₹51,02,609	₹36,12,609	18.4%

₹0₹20.0 L₹40.0 L₹60.0 L

201520172019202120232025

Direct planHDFC Small Cap Fund (Direct)Regular planHDFC Small Cap Fund (Regular)BSE 250 SmallCap Index TRICategory averageCategory average, 36 Small Cap fundsAmount invested

From each plan's published NAV (Growth option), the benchmark's TRI and the category average, 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.

HDFC Small Cap Fund Asset Allocation

Asset allocation as on 30-09-2026

What the fund holds

90.1%Equity

Asset	Fund	Category
Equity	90.1%	93.6%
Cash and others	9.9%	5.8%

Market cap of stocks

Market cap	Fund	Category
Large Cap	6.5%	4.8%
Mid Cap	9.2%	10.9%
Small Cap	74.1%	73.6%
Not on AMFI's list	0.3%	4.2%

Share of the whole fund. Category: the average of the Small Cap funds that hold stocks. Groups follow AMFI's latest list, as SEBI defines them: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.

HDFC Small Cap Fund Sector Allocation

Sector allocation of the fund's stocks as on 30-09-2026

Largest sectors

Auto Components11.8%
Banks8.8%
Commercial Services & Supplies8.3%
Healthcare Services8.2%
Transport Services5.4%
Consumer Durables4.4%
Construction4.1%
Industrial Products3.9%
Retailing3.9%
Textiles & Apparels3.1%

The ten largest of 28 sectors. The other 18 add up to 28.0%.

Sector changes

Sector	July 2026	August 2026	September 2026	Change
Auto Components	11.9%	11.9%	11.8%	−0.1%
Banks	9.0%	9.2%	8.8%	−0.2%
Commercial Services & Supplies	8.6%	8.4%	8.3%	−0.2%
Healthcare Services	9.6%	8.6%	8.2%	−1.4%
Transport Services	5.2%	5.2%	5.4%	+0.2%

Each sector's share of the fund at the end of each month. The five largest sectors of September 2026. Change: from July 2026 to September 2026, in % of the fund.

HDFC Small Cap Fund Portfolio Holdings

As on 30-09-2026 · 85 holdings · from the fund house's monthly portfolio

Holdings	Sector	Weight%	1M change
Firstsource Solutions Ltd.	Commercial Services & Supplies	3.68%	0.0%
Aster DM Quality Care Limited	Healthcare Services	3.37%	0.0%
Gabriel India Ltd.	Auto Components	3.09%	−1.1%
eClerx Services Limited	Commercial Services & Supplies	2.92%	0.0%
Bank of Baroda	Banks	2.65%	0.0%
Krishna Institute Of Medical Sciences Limited	Healthcare Services	2.04%	0.0%
Apar Industries Limited	Electrical Equipment	1.92%	0.0%
Indian Bank	Banks	1.91%	0.0%
PEARL GLOBAL INDUSTRIES LIMITED	Textiles & Apparels	1.90%	+100.8%
Eris Lifesciences Ltd	Pharmaceuticals & Biotechnology	1.89%	0.0%
Home First Finance Company India Ltd	Finance	1.76%	+7.0%
PVR LIMITED	Entertainment	1.75%	−0.2%
Great Eastern Shipping Company Ltd.	Transport Services	1.73%	0.0%
Sudarshan Chemical Industries Limited	Chemicals & Petrochemicals	1.71%	0.0%
Vijaya Diagnostic Centre Limited	Healthcare Services	1.63%	0.0%
Chalet Hotels Ltd.	Leisure Services	1.62%	+4.1%
The Federal Bank Ltd.	Banks	1.61%	0.0%
Kalpataru Projects International Ltd	Construction	1.57%	0.0%
City Union Bank Ltd.	Banks	1.48%	0.0%
Suprajit Engineering Ltd.	Auto Components	1.40%	0.0%
Redington Ltd.	Commercial Services & Supplies	1.35%	0.0%
Timken India Ltd.	Industrial Products	1.34%	0.0%
Power Mech Projects Ltd.	Construction	1.34%	0.0%
JSW Dulux Limited	Consumer Durables	1.32%	0.0%
Aditya Vision Limited	Retailing	1.28%	0.0%
Sonata Software Ltd.	IT - Software	1.28%	+0.5%
Dodla Dairy Limited	Food Products	1.24%	0.0%
Godrej Consumer Products Ltd.	Personal Products	1.23%	0.0%
Vardhman Textiles Ltd.	Textiles & Apparels	1.22%	0.0%
TEGA INDUSTRIES LIMITED	Industrial Manufacturing	1.20%	0.0%
Blue Dart Express Ltd.	Transport Services	1.18%	+0.1%
LG Balakrishnan & Bros Ltd.	Auto Components	1.18%	0.0%
Equitas Small Finance Bank Ltd	Banks	1.15%	0.0%
NRB Bearing Ltd.	Auto Components	1.12%	0.0%
FIEM INDUSTRIES LIMITED	Auto Components	1.04%	0.0%
CIE Automotive India Ltd	Auto Components	1.03%	0.0%
Voltamp Transformers Ltd.	Electrical Equipment	1.03%	0.0%
JK Tyre & Industries Limited	Auto Components	1.03%	0.0%
Indigo Paints Limited	Consumer Durables	1.03%	+2.5%
Vishal Mega Mart Limited	Retailing	1.02%	0.0%
Transport Corporation of India Ltd.	Transport Services	1.02%	0.0%
Shoppers Stop Ltd.	Retailing	1.02%	+0.1%
UTI Asset Management Company Ltd	Capital Markets	1.01%	+12.2%
VRL Logistics Ltd.	Transport Services	1.01%	0.0%
Sharda Cropchem Ltd.	Fertilizers & Agrochemicals	0.97%	0.0%
Fortis Healthcare Limited	Healthcare Services	0.94%	0.0%
Kirloskar Ferrous Industries Ltd.	Ferrous Metals	0.91%	0.0%
Zensar Technologies Ltd.	IT - Software	0.90%	+2.4%
Chambal Fertilizers & Chemicals Ltd.	Fertilizers & Agrochemicals	0.86%	0.0%
Lumax Industries Ltd	Auto Components	0.83%	0.0%
GMM Pfaudler Limited	Industrial Manufacturing	0.76%	0.0%
SKF India (Industrial) Limited	Industrial Products	0.75%	0.0%
Aadhar Housing Finance Limited	Finance	0.72%	+19.5%
Tata Steel Ltd.	Ferrous Metals	0.70%	0.0%
Unichem Laboratories Ltd.	Pharmaceuticals & Biotechnology	0.66%	0.0%
Redtape Limited	Consumer Durables	0.65%	0.0%
Bajaj Consumer Care Ltd.	Personal Products	0.62%	−1.9%
Mastek Ltd.	IT - Software	0.61%	0.0%
The Anup Engineering Limited	Industrial Manufacturing	0.58%	0.0%
Usha Martin Ltd	Industrial Products	0.57%	New
Wakefit Innovations Limited	Consumer Durables	0.57%	0.0%
Vedant Fashions Ltd	Retailing	0.54%	+44.7%
GNA Axles Ltd.	Auto Components	0.48%	0.0%
ION EXCHANGE (INDIA) LIMITED	Other Utilities	0.48%	0.0%
Bajaj Electricals Ltd.	Consumer Durables	0.47%	0.0%
KEC International Ltd.	Construction	0.46%	0.0%
Gateway Distriparks Limited	Transport Services	0.43%	0.0%
PNC Infratech Ltd.	Construction	0.43%	0.0%
SKF India Ltd.	Auto Components	0.41%	0.0%
Vesuvius India Ltd.	Industrial Products	0.41%	0.0%
AWFIS SPACE SOLUTIONS LIMITED	Commercial Services & Supplies	0.40%	0.0%
Insecticides (India) Ltd.	Fertilizers & Agrochemicals	0.37%	0.0%
Gujarat Pipavav Port Ltd.	Transport Infrastructure	0.36%	0.0%
La Opala RG Limited	Consumer Durables	0.35%	0.0%
KEI Industries Ltd.	Industrial Products	0.33%	0.0%
Ifgl Refractories Limited (Erst Ifgl Exports Limited)	Industrial Products	0.31%	0.0%
Emami Ltd.	Personal Products	0.31%	0.0%
G R Infraprojects Limited	Construction	0.29%	0.0%
Jupiter Life Line Hospitals Limited	Healthcare Services	0.26%	0.0%
Goodyear India Ltd.	Auto Components	0.22%	0.0%
Carborundum Universal Ltd.	Industrial Products	0.20%	0.0%
SULA VINEYARDS LIMITED	Beverages	0.20%	0.0%
BEML Limited	Agricultural, Commercial & Construction Vehicles	0.20%	0.0%
D B Corp Limited	Media	0.20%	0.0%
TCI Express Ltd.	Transport Services	0.06%	−1.1%

HDFC Small Cap Fund Stocks Bought and Sold

All changes are between August 2026 and September 2026

Stocks bought and sold in September 2026

Gabriel India Ltd.	Reduced	−1.1%	3.09%
PEARL GLOBAL INDUSTRIES LIMITED	Added	+100.8%	1.90%
Home First Finance Company India Ltd	Added	+7.0%	1.76%
PVR LIMITED	Reduced	−0.2%	1.75%
Chalet Hotels Ltd.	Added	+4.1%	1.62%
Sonata Software Ltd.	Added	+0.5%	1.28%
Blue Dart Express Ltd.	Added	+0.1%	1.18%
Indigo Paints Limited	Added	+2.5%	1.03%
Shoppers Stop Ltd.	Added	+0.1%	1.02%
UTI Asset Management Company Ltd	Added	+12.2%	1.01%
Zensar Technologies Ltd.	Added	+2.4%	0.90%
Aadhar Housing Finance Limited	Added	+19.5%	0.72%
Bajaj Consumer Care Ltd.	Reduced	−1.9%	0.62%
Usha Martin Ltd	New	New	0.57%
Vedant Fashions Ltd	Added	+44.7%	0.54%
Brainbees Solutions Limited (FirstCry)	Sold out	−100%	was 0.20%
TCI Express Ltd.	Reduced	−1.1%	0.06%

A change is counted by the number of shares the fund holds, not by price. A stock can become a smaller part of the fund in a month when the fund bought more of it, if its price fell. Debt papers are left out.

What HDFC Small Cap Fund bought and sold

HDFC Small Cap Fund Portfolio Overlap

Funds with the most similar portfolios, across every fund house and category

Fund	Overlap	Holdings in common
HDFC Children's FundSolution · HDFC	19.7%	28	Compare
Edelweiss Small Cap FundSmall Cap · Edelweiss	17.8%	18	Compare
UTI Small Cap FundSmall Cap · UTI	16.1%	19	Compare
Kotak Small Cap FundSmall Cap · Kotak Mahindra	13.6%	12	Compare
HDFC Retirement Fund - Equity PlanSolution · HDFC	13.2%	22	Compare
Union Small Cap FundSmall Cap · Union	12.8%	11	Compare
Kotak Business Cycle FundThematic · Kotak Mahindra	12.7%	7	Compare
Bajaj Finserv Small Cap FundSmall Cap · Bajaj Finserv	12.6%	14	Compare

Overlap: for each holding both funds own, the smaller of its two weights, added up. 40% means 40% of each fund's money sits in positions the other also holds. From each fund's latest monthly portfolio, matched by ISIN. Cash and hedged positions are left out. Funds that overlap under 10% are not listed. A high overlap does not make two funds the same: their costs, lock-in and category can differ.

HDFC Small Cap Fund Overview

Fund facts from the scheme summary document, as on 16-10-2026

Expense ratio (Direct): 0.80%
Expense ratio (Regular): 1.57%
Category: Small Cap
Risk: Very High
Benchmark: BSE 250 Smallcap TRI
Launch date: 03-04-2008
Minimum investment: ₹100
Minimum additional investment: ₹100
AUM: ₹40,800.81 Cr (30-09-2026)
Lock in: None
Scheme code (Direct): 130503
ISIN (Direct): INF179KA1RW5
Scheme code (Regular): 130502
ISIN (Regular): INF179KA1RZ8
NAV history: From 30-06-2014, 12.3 years

Exit load: In respect of each purchase/ switch-in of units, an Exit Load of 1.00% is payable if Units are redeemed/switched-out within 1 year from the date of allotment. No Exit Load is payable if Units are redeemed/ switched-out after 1 year from the date of allotment.

Tax on HDFC Small Cap Fund returns

HDFC Small Cap Fund is taxed as an equity fund: 65% or more of it is in Indian stocks.
Units sold within 1 year: the gain is taxed at 20%.
Units held longer: gains above ₹1.25 lakh in a financial year, across all your equity funds and shares, are taxed at 12.5%.
IDCW (dividend) payouts are added to your income and taxed at your slab rate.
A stamp duty of 0.005% is deducted when you invest.

Rules in force from 23-07-2024 (Finance Act 2024). Tax depends on your own income; this is general information, not tax advice.

All plans and options

Plan	Option	NAV	As on
direct	Growth	₹148.615	30-10-2026
direct	IDCW	₹60.164	30-10-2026
regular	Growth	₹129.334	30-10-2026
regular	IDCW	₹37.532	30-10-2026

About HDFC Small Cap Fund

HDFC Small Cap Fund is a mutual fund from HDFC Mutual Fund. Its category is Small Cap. It was launched on 03-04-2008. Its benchmark is BSE 250 Smallcap TRI. At the end of September 2026 it held 85 securities.

Fund Manager

Chirag Setalvad
Fund manager of HDFC Small Cap Fund, since 28-06-2014
Gopal Agrawal
Fund manager of HDFC Small Cap Fund, since 01-09-2026
Bhagyesh Kagalkar
Fund manager of HDFC Small Cap Fund, since 26-08-2026

See all funds of HDFC Mutual Fund

AUM change

September 2026: ₹40,800.81 Cr; −2.60% from August 2026
August 2026: ₹41,890.86 Cr; +0.51% from July 2026
July 2026: ₹41,679.00 Cr; +3.12% from June 2026

AUM moves with money invested or taken out, and with the value of what the fund holds.

Compare HDFC Small Cap Fund with Other Funds

Returns, risk, costs and the stocks they share, side by side

HDFC Small Cap vs ITI Small CapSmall Cap
HDFC Small Cap vs Bandhan Small CapSmall Cap
HDFC Small Cap vs Invesco India Small capSmall Cap
HDFC Small Cap vs Bank of India Small CapSmall Cap
HDFC Small Cap vs Mahindra Manulife Small CapSmall Cap
HDFC Small Cap vs HDFC Children's19.7% overlap
HDFC Small Cap vs Edelweiss Small Cap17.8% overlap
HDFC Small Cap vs UTI Small Cap16.1% overlap

Compare with any other fund

Frequently Asked Questions for HDFC Small Cap Fund

What is the current NAV of HDFC Small Cap Fund?

The Direct plan NAV is ₹148.615. The Regular plan NAV is ₹129.334, as on 30-10-2026.

What are the returns of HDFC Small Cap Fund?

The Direct plan returned −9.85% in 1 year, +8.90% a year over 3 years, +13.07% a year over 5 years. The Regular plan returned −10.58% in 1 year, +7.96% a year over 3 years, +12.06% a year over 5 years. These figures are as on 30-10-2026.

What is the expense ratio of HDFC Small Cap Fund?

The Direct plan charges 0.80% a year. The Regular plan charges 1.57% a year. This is the figure the fund house reported to AMFI, in force from 21-10-2026.

What is the AUM of HDFC Small Cap Fund?

HDFC Small Cap Fund managed ₹40,800.81 Cr on 30-09-2026, as its fund house reported in its monthly portfolio.

What are the top holdings of HDFC Small Cap Fund?

At the end of September 2026 the largest holdings were FSL (3.68%), ASTERDM (3.37%), GABRIEL (3.09%), ECLERX (2.92%), BANKBARODA (2.65%). The fund held 85 securities in all.

What did HDFC Small Cap Fund buy and sell in September 2026?

It bought 1 new stock: Usha Martin Ltd. It sold out of 1: Brainbees Solutions Limited (FirstCry). It added shares in 11. It reduced 4.

How do I invest in HDFC Small Cap Fund?

Through HDFC Mutual Fund's website or app, a mutual fund distributor, or an investment platform. Choose the Direct plan to pay no distributor commission, or the Regular plan to invest through a distributor. The first investment is at least ₹100. You can invest once or through a monthly SIP.

Who is the fund manager of HDFC Small Cap Fund?

Chirag Setalvad (since 28-06-2014), Gopal Agrawal (since 01-09-2026), Bhagyesh Kagalkar (since 26-08-2026).

Sources: NAV and expense ratio from AMFI. Holdings from the fund house's monthly portfolio statement. Fund facts from its scheme summary document, as on 16-10-2026.

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.