JM Small Cap Fund

Small CapDirect and Regular plans, Growth and IDCW options

Data as on 30-10-2026

JM Small Cap Fund is a Small Cap fund run by JM Financial Mutual Fund. On 30-09-2026, it managed ₹941 Cr of investors' money. In the year to 30-10-2026, its Direct plan returned 4.6% and its Regular plan returned 3.0%. Its benchmark, Nifty Smallcap 250 TRI, returned −3.1% over the same year.

NAV (Direct plan): ₹11.04; ▼ 2.14%30-10-2026
NAV (Regular plan): ₹10.62; ▼ 2.15%30-10-2026
Expense ratio: 1.00%Direct2.56%Regular; 1.00%; A year
Riskometer: Very High; Set by the fund house
1 year return: 4.6%Direct3.0%Regular; 4.6%; Total

JM Small Cap Fund NAV Today

NAV on 30-10-2026: Direct Plan Growth ₹11.04 (down 2.14% that day); Regular Plan Growth ₹10.62 (down 2.15% that day).

This fund (Direct plan)

₹11.0434

JM Small Cap Fund Returns vs Nifty Smallcap 250 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)	−6.82%	−4.39%	+9.64%	+4.61%	--	--	--
This fund (Regular)	−6.94%	−4.77%	+8.79%	+2.96%	--	--	--
Nifty Smallcap 250 TRI	−5.78%	−5.87%	+0.62%	−3.15%	+12.35%	+13.11%	+13.34%
Small Cap average	−5.86%	−3.28%	+5.03%	+3.00%	--	--	--
Best in Small Cap	−2.98%	+10.76%	+19.23%	+19.98%	--	--	--
Worst in Small Cap	−11.16%	−7.95%	−4.62%	−10.42%	--	--	--
Rank in Small Cap	30/36	23/36	8/36	13/31	--	--	--

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

JM Small Cap Fund Year-wise Returns

Return of each calendar year
Year	Direct	Regular	Nifty Smallcap 250 TRI
2026to date	+11.18%	+9.74%	+1.00%
2025	−6.87%	−8.40%	−5.48%

JM 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 1-year holding period, plotted on the day it ended. There are 333 periods, one for each trading day from 24-06-2025 to 30-10-2026.

−20%−10%0%10%20%30%

Aug 2024
to
Aug 2025Oct 2024
to
Oct 2025Jan 2025
to
Jan 2026Apr 2025
to
Apr 2026Jul 2025
to
Jul 2026Sept 2025
to
Sept 2026

JM Small Cap Fund (Direct)Nifty Smallcap 250 TRI

Every holding period at a glance

Period	Periods	Median	Lowest	Highest	With a loss	Benchmark median	Beat benchmark
1 year	333	3.6%	−11.1%	23.1%	37%	1.3%	65%
2 years	87	6.2%	1.3%	10.4%	0%	1.1%	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 Nifty Smallcap 250 TRI over the same days. Past returns do not promise future returns.

JM Small Cap Fund Risk

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

Risk and return

Measure	JM Small Cap Fund (Direct)This fund	Nifty Smallcap 250 TRI
Return (CAGR)	+4.61%	−3.15%
Standard deviation	20.91%	17.96%
Sharpe ratio	-0.03	-0.47
Sortino ratio	-0.04	-0.63
Maximum drawdown	−21.0% (23-03-2026)	−18.2% (23-03-2026)
Beta	1.10	1.00
Alpha	+8.58%	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	JM Small Cap Fund (Direct)This fund	Nifty Smallcap 250 TRI
Return (CAGR)	+4.36%	−0.07%
Standard deviation	20.66%	18.69%
Sharpe ratio	-0.07	-0.31
Sortino ratio	-0.09	-0.41
Maximum drawdown	−24.4% (03-03-2025)	−26.0% (03-03-2025)
Beta	1.06	1.00
Alpha	+4.77%	0.00%

From daily NAVs, 24-06-2024 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: 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.

−30%−25%−20%−15%−10%−5%0%

20252026

JM Small Cap Fund (Direct)Nifty Smallcap 250 TRI

	Worst fall	High before it	Bottom	Back at the high	Time to climb back	Below its high today
JM Small Cap Fund (Direct)	−24.4%	24-09-2024	03-03-2025	17-06-2026	15 months	−9.6%
Nifty Smallcap 250 TRI	−26.0%	23-09-2024	03-03-2025	26-08-2026	18 months	−9.4%

From the Direct plan's daily NAV since 24-06-2024, adjusted for unit splits, and Nifty Smallcap 250 TRI over the same days. "Time to climb back" runs from the bottom to the first day back at the old high.

JM 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
JM Small Cap Fund	13/31	941	1.00%	+4.61%	--	--	--	--	--

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.

JM Small Cap Fund Expense Ratio and Costs

What each plan charges a year, in force from 23-10-2026

Plan	Base expense ratio	Brokerage	Transaction costs	Levies and GST	Total expense ratio	Small Cap median	Cost rank (1 = cheapest)
Direct	0.63%	0.08%	0.00%	0.29%	1.00%	0.91%	23/36
Regular	1.98%	0.08%	0.00%	0.50%	2.56%	2.06%	31/36

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	2.96%	4.61%	1.65%	₹1,02,960	₹1,04,610

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.

JM 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 24-06-2024 to 30-10-2026: 29 instalments, ₹2,90,000 in all.

Investment	Invested	Value now	Gain	Return a year
Direct planJM Small Cap Fund (Direct)	₹2,90,000	₹3,14,827	₹24,827	6.8%
Regular planJM Small Cap Fund (Regular)	₹2,90,000	₹3,08,519	₹18,519	5.1%
Nifty Smallcap 250 TRI	₹2,90,000	₹2,91,346	₹1,346	0.4%
Category averageCategory average, 36 Small Cap funds	₹2,90,000	₹3,10,810	₹20,810	5.7%

₹0₹1.0 L₹2.0 L₹3.0 L₹4.0 L

20252026

Direct planJM Small Cap Fund (Direct)Regular planJM Small Cap Fund (Regular)Nifty Smallcap 250 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.

JM Small Cap Fund Asset Allocation

Asset allocation as on 30-09-2026

What the fund holds

97.3%Equity

Asset	Fund	Category
Equity	97.3%	93.6%
Cash and others	2.7%	5.8%

Market cap of stocks

Market cap	Fund	Category
Large Cap	0.0%	4.8%
Mid Cap	3.1%	10.9%
Small Cap	88.3%	73.6%
Not on AMFI's list	5.9%	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.

JM Small Cap Fund Sector Allocation

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

Largest sectors

Industrial Products14.5%
Auto Components9.3%
Finance7.7%
Consumer Durables7.3%
Pharmaceuticals & Biotechnology6.9%
Electrical Equipment6.8%
Banks5.1%
Chemicals & Petrochemicals4.9%
Industrial Manufacturing4.5%
Leisure Services3.8%

The ten largest of 27 sectors. The other 17 add up to 26.4%.

Sector changes

Sector	July 2026	August 2026	September 2026	Change
Industrial Products	11.8%	11.9%	14.5%	+2.7%
Auto Components	7.5%	7.8%	9.3%	+1.8%
Finance	9.3%	8.9%	7.7%	−1.6%
Consumer Durables	7.7%	7.4%	7.3%	−0.4%
Pharmaceuticals & Biotechnology	8.0%	7.2%	6.9%	−1.1%

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.

JM Small Cap Fund Portfolio Holdings

As on 30-09-2026 · 88 holdings · from the fund house's monthly portfolio

Holdings	Sector	Weight%	1M change
Garware Hi-Tech Films Ltd	Industrial Products	4.50%	0.0%
Navin Fluorine International Limited	Chemicals & Petrochemicals	2.99%	0.0%
Acutaas Chemicals Limited	Pharmaceuticals & Biotechnology	2.91%	−2.3%
FIVE-STAR BUSINESS FINANCE LIMITED	Finance	2.69%	+2.1%
Shaily Engineering Plastics Limited	Consumer Durables	2.45%	0.0%
Fusion Finance Limited	Finance	2.30%	0.0%
TD Power Systems Limited	Electrical Equipment	2.13%	−1.9%
AVALON TECHNOLOGIES LIMITED	Electrical Equipment	2.07%	−5.6%
Jana Small Finance Bank Ltd	Banks	2.00%	−6.1%
Pine Labs Limited	Financial Technology (Fintech)	1.98%	+26.3%
Thangamayil Jewellery Limited	Consumer Durables	1.97%	0.0%
One Source Specialty Pharma Ltd	Pharmaceuticals & Biotechnology	1.95%	+2.5%
FINEOTEX CHEMICAL LTD	Chemicals & Petrochemicals	1.93%	−8.7%
Gokaldas Exports Limited	Textiles & Apparels	1.87%	0.0%
City Union Bank Limited	Banks	1.84%	+4.1%
BELRISE INDUSTRIES LIMITED	Auto Components	1.73%	0.0%
Ather Energy Limited	Automobiles	1.68%	0.0%
SYRMA SGS TECHNOLOGY LIMITED	Industrial Manufacturing	1.61%	−5.6%
Godfrey Phillips India Limited	Cigarettes & Tobacco Products	1.58%	−8.2%
Manorama Industries Limited	Food Products	1.58%	0.0%
GRAPHITE INDIA LTD	Industrial Products	1.46%	+137.6%
Amber Enterprises India Limited	Consumer Durables	1.41%	0.0%
Creditaccess Grameen Limited	Finance	1.38%	−11.1%
INDO COUNT INDUSTRIES LIMITED	Textiles & Apparels	1.32%	−3.6%
Goodluck India Limited	Industrial Products	1.28%	0.0%
Sansera Engineering Limited	Auto Components	1.25%	+4.0%
Restaurant Brands Asia Limited	Leisure Services	1.22%	−3.6%
Jyoti Cnc Automation Ltd	Industrial Manufacturing	1.21%	0.0%
CarTrade Tech Limited	Retailing	1.16%	−9.6%
Marksans Pharma Limited	Pharmaceuticals & Biotechnology	1.15%	0.0%
CEAT Limited	Auto Components	1.14%	0.0%
Inox India Limited	Industrial Products	1.11%	+10.9%
Lumax Auto Technologies Limited	Auto Components	1.11%	0.0%
GRAVITA INDIA LIMITED	Minerals & Mining	1.03%	0.0%
SKF India Industrial Limited	Industrial Products	1.01%	+78.1%
Sagility Limited	IT - Services	1.00%	0.0%
ZUARI INDUSTRIES LIMITED	Agricultural Food & other Products	0.99%	0.0%
Carraro India Ltd	Auto Components	0.98%	−5.1%
Shyam Metalics and Energy Ltd.	Industrial Products	0.96%	+21.4%
Yatra Online Ltd.	Leisure Services	0.96%	0.0%
Hero Motors Limited	Auto Components	0.96%	New
TITAGARH RAIL SYSTEMS LIMITED	Industrial Manufacturing	0.96%	0.0%
VENUS PIPES & TUBES LTD	Industrial Products	0.95%	+14.6%
Motilal Oswal Financial Services Limited	Capital Markets	0.94%	−6.3%
Tinna Rubber and Infrastructure Limited	Industrial Products	0.94%	−4.7%
Neuland Laboratories Ltd	Pharmaceuticals & Biotechnology	0.91%	−20.0%
Newgen Software Technologies Limited	IT - Software	0.90%	0.0%
FIRSTSOURCE SOLUTIONS LTD	Commercial Services & Supplies	0.89%	0.0%
POWER MECH PROJECTS LIMITED	Construction	0.89%	0.0%
Leela Palaces Hotels & Resorts Limited	Leisure Services	0.88%	0.0%
Suraksha Diagnostic Limited	Healthcare Services	0.87%	−2.1%
OPTIEMUS INFRACOM LIMITED	Telecom - Equipment & Accessories	0.86%	0.0%
WeWork India Management Limited	Commercial Services & Supplies	0.84%	0.0%
Minda Corporation Limited	Auto Components	0.83%	+21.7%
Diamond Power Infrastructure Limited	Electrical Equipment	0.78%	+18.2%
Raymond Limited	Industrial Manufacturing	0.77%	New
Krishna Institute of Medical Science Ltd	Healthcare Services	0.77%	−4.9%
Northern Arc Capital Ltd	Finance	0.73%	+14.3%
Horizon Industrial Parks Limited	Realty	0.73%	0.0%
The Jammu & Kashmir Bank Limited	Banks	0.73%	−16.9%
SCHNEIDER ELECTRIC INFRASTRUCTURE LTD.	Electrical Equipment	0.65%	0.0%
PSP Projects Limited	Construction	0.65%	+5.4%
Angel One Limited	Capital Markets	0.62%	0.0%
Bharat Bijlee Ltd.	Electrical Equipment	0.61%	0.0%
OnEMI Technology Solutions Limited	Finance	0.61%	0.0%
EPL Limited	Industrial Products	0.61%	New
BLUE STAR LTD	Consumer Durables	0.60%	+24.9%
BLACK BOX LIMITED	IT - Services	0.58%	New
Gaja Alternative AMC Limited	Capital Markets	0.58%	0.0%
Knack Packaging Limited	Industrial Products	0.57%	0.0%
Wheels India Limited	Auto Components	0.56%	New
GE Power India Limited	Electrical Equipment	0.55%	0.0%
S.J.S. Enterprises Limited	Auto Components	0.53%	−31.1%
EQUITAS SMALL FINANCE BANK LIMITED	Banks	0.51%	−12.5%
Varmora Granito Limited	Consumer Durables	0.49%	New
Patel Engineering Limited	Construction	0.48%	−0.1%
JSW Cement Limited	Cement & Cement Products	0.46%	+26.4%
LEAP India Limited	Commercial Services & Supplies	0.46%	0.0%
Hi-Tech Pipes Limited	Industrial Products	0.43%	0.0%
Devyani International Limited	Leisure Services	0.42%	−50.0%
PG Electroplast Limited	Consumer Durables	0.40%	0.0%
Borosil Renewables Limited	Industrial Products	0.38%	New
Metropolis Healthcare Limited	Healthcare Services	0.37%	−31.7%
Ventive Hospitality Limited	Leisure Services	0.34%	0.0%
M&B Engineering Limited	Construction	0.34%	0.0%
Ksb Limited	Industrial Products	0.26%	0.0%
TENNECO CLEAN AIR INDIA LIMITED	Auto Components	0.21%	New
ESDS Software Solution Limited	IT - Services	0.02%	New

JM Small Cap Fund Stocks Bought and Sold

All changes are between August 2026 and September 2026

Stocks bought and sold in September 2026

Acutaas Chemicals Limited	Reduced	−2.3%	2.91%
FIVE-STAR BUSINESS FINANCE LIMITED	Added	+2.1%	2.69%
Jana Small Finance Bank Ltd	Reduced	−6.1%	2.00%
AVALON TECHNOLOGIES LIMITED	Reduced	−5.6%	2.07%
TD Power Systems Limited	Reduced	−1.9%	2.13%
Pine Labs Limited	Added	+26.3%	1.98%
One Source Specialty Pharma Ltd	Added	+2.5%	1.95%
Godfrey Phillips India Limited	Reduced	−8.2%	1.58%
FINEOTEX CHEMICAL LTD	Reduced	−8.7%	1.93%
City Union Bank Limited	Added	+4.1%	1.84%
Creditaccess Grameen Limited	Reduced	−11.1%	1.38%
SYRMA SGS TECHNOLOGY LIMITED	Reduced	−5.6%	1.61%
GRAPHITE INDIA LTD	Added	+137.6%	1.46%
INDO COUNT INDUSTRIES LIMITED	Reduced	−3.6%	1.32%
Restaurant Brands Asia Limited	Reduced	−3.6%	1.22%
CarTrade Tech Limited	Reduced	−9.6%	1.16%
Sansera Engineering Limited	Added	+4.0%	1.25%
Neuland Laboratories Ltd	Reduced	−20.0%	0.91%
Carraro India Ltd	Reduced	−5.1%	0.98%
Inox India Limited	Added	+10.9%	1.11%
Motilal Oswal Financial Services Limited	Reduced	−6.3%	0.94%
Tinna Rubber and Infrastructure Limited	Reduced	−4.7%	0.94%
SKF India Industrial Limited	Added	+78.1%	1.01%
Shyam Metalics and Energy Ltd.	Added	+21.4%	0.96%
Hero Motors Limited	New	New	0.96%
VENUS PIPES & TUBES LTD	Added	+14.6%	0.95%
The Jammu & Kashmir Bank Limited	Reduced	−16.9%	0.73%
Devyani International Limited	Reduced	−50.0%	0.42%
Suraksha Diagnostic Limited	Reduced	−2.1%	0.87%
S.J.S. Enterprises Limited	Reduced	−31.1%	0.53%
Krishna Institute of Medical Science Ltd	Reduced	−4.9%	0.77%
Minda Corporation Limited	Added	+21.7%	0.83%
Diamond Power Infrastructure Limited	Added	+18.2%	0.78%
Raymond Limited	New	New	0.77%
Northern Arc Capital Ltd	Added	+14.3%	0.73%
PSP Projects Limited	Added	+5.4%	0.65%
EQUITAS SMALL FINANCE BANK LIMITED	Reduced	−12.5%	0.51%
EPL Limited	New	New	0.61%
BLUE STAR LTD	Added	+24.9%	0.60%
Metropolis Healthcare Limited	Reduced	−31.7%	0.37%
Piramal Finance Ltd	Sold out	−100%	was 0.59%
BLACK BOX LIMITED	New	New	0.58%
Wheels India Limited	New	New	0.56%
Patel Engineering Limited	Reduced	−0.1%	0.48%
Varmora Granito Limited	New	New	0.49%
The Shipping Corp of India Ltd	Sold out	−100%	was 0.47%
JSW Cement Limited	Added	+26.4%	0.46%
Kalpataru Projects International Limited	Sold out	−100%	was 0.45%
GARDEN REACH SHIPBUILDERS & ENGINEER LTD	Sold out	−100%	was 0.43%
Borosil Renewables Limited	New	New	0.38%
TENNECO CLEAN AIR INDIA LIMITED	New	New	0.21%
ESDS Software Solution Limited	New	New	0.02%

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 JM Small Cap Fund bought and sold

JM Small Cap Fund Portfolio Overlap

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

Fund	Overlap	Holdings in common
LIC MF Small Cap FundSmall Cap · LIC	22.4%	14	Compare
JM Value FundValue and Contra · JM Financial	22.3%	25	Compare
Samco Special Opportunities FundThematic · Samco	21.7%	14	Compare
Union Small Cap FundSmall Cap · Union	20.3%	21	Compare
TRUSTMF Small Cap FundSmall Cap · Trust	19.6%	17	Compare
Zerodha Nifty Smallcap 100 ETFETF · Zerodha	19.0%	20	Compare
Aditya Birla Sun Life Small Cap FundSmall Cap · Aditya Birla Sun Life	18.5%	17	Compare
JM Mid Cap FundMid Cap · JM Financial	18.1%	19	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.

JM Small Cap Fund Overview

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

Expense ratio (Direct): 1.00%
Expense ratio (Regular): 2.56%
Category: Small Cap
Risk: Very High
Benchmark: Nifty Smallcap 250 TRI
Launch date: 18-06-2024
Minimum investment: ₹1,000
Minimum additional investment: ₹100
AUM: ₹941.35 Cr (30-09-2026)
Lock in: None
Scheme code (Direct): 152614
ISIN (Direct): INF192K01NH3
Scheme code (Regular): 152612
ISIN (Regular): INF192K01NE0
NAV history: From 24-06-2024, 2.3 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 180 days from the date of allotment, No Exit Load is payable if Units are redeemed / switched-out after 180 days from the date of allotment, No Entry / Exit Load shall be levied on units allotted on Reinvestment of Income Distribution cum Capital Withdrawal Option, In respect of Systematic Transactions such as SIP,STP, SWP, Exit Load, if any, prevailing on the date of registration / enrolment for SIP/STP/SWP shall be levied for all the opted Installments.

Tax on JM Small Cap Fund returns

JM 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	₹11.0434	30-10-2026
direct	IDCW	₹11.0436	30-10-2026
regular	Growth	₹10.6187	30-10-2026
regular	IDCW	₹10.6188	30-10-2026

About JM Small Cap Fund

JM Small Cap Fund is a mutual fund from JM Financial Mutual Fund. Its category is Small Cap. It was launched on 18-06-2024. Its benchmark is Nifty Smallcap 250 TRI. At the end of September 2026 it held 88 securities.

Fund Manager

Asit Bhandarkar
Fund manager of JM Small Cap Fund, since 18-06-2024
Satish Ramanathan
Fund manager of JM Small Cap Fund, since 01-10-2024
Deepak Gupta
Fund manager of JM Small Cap Fund, since 11-04-2025
Ruchi Fozdar
Fund manager of JM Small Cap Fund, since 04-10-2024

See all funds of JM Financial Mutual Fund

AUM change

September 2026: ₹941.35 Cr; +1.27% from August 2026
August 2026: ₹929.50 Cr; +7.05% from July 2026
July 2026: ₹868.32 Cr; +7.28% from June 2026

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

Compare JM Small Cap Fund with Other Funds

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

JM Small Cap vs ITI Small CapSmall Cap
JM Small Cap vs Bandhan Small CapSmall Cap
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JM Small Cap vs Mahindra Manulife Small CapSmall Cap
JM Small Cap vs LIC MF Small Cap22.4% overlap
JM Small Cap vs JM Value22.3% overlap
JM Small Cap vs Samco Special Opportunities21.7% overlap

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Frequently Asked Questions for JM Small Cap Fund

What is the current NAV of JM Small Cap Fund?

The Direct plan NAV is ₹11.0434. The Regular plan NAV is ₹10.6187, as on 30-10-2026.

What are the returns of JM Small Cap Fund?

The Direct plan returned +4.61% in 1 year. The Regular plan returned +2.96% in 1 year. These figures are as on 30-10-2026.

What is the expense ratio of JM Small Cap Fund?

The Direct plan charges 1.00% a year. The Regular plan charges 2.56% a year. This is the figure the fund house reported to AMFI, in force from 23-10-2026.

What is the AUM of JM Small Cap Fund?

JM Small Cap Fund managed ₹941.35 Cr on 30-09-2026, as its fund house reported in its monthly portfolio.

What are the top holdings of JM Small Cap Fund?

At the end of September 2026 the largest holdings were GRWRHITECH (4.50%), NAVINFLUOR (2.99%), ACUTAAS (2.91%), FIVESTAR (2.69%), SHAILY (2.45%). The fund held 88 securities in all.

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

It bought 9 new stocks: Hero Motors Limited, ESDS Software Solution Limited, Varmora Granito Limited, TENNECO CLEAN AIR INDIA LIMITED, EPL Limited. It sold out of 4: The Shipping Corp of India Ltd, Piramal Finance Ltd, Kalpataru Projects International Limited, GARDEN REACH SHIPBUILDERS & ENGINEER LTD. It added shares in 16. It reduced 23.

How do I invest in JM Small Cap Fund?

Through JM Financial 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 ₹1,000. You can invest once or through a monthly SIP.

Who is the fund manager of JM Small Cap Fund?

Asit Bhandarkar (since 18-06-2024), Satish Ramanathan (since 01-10-2024), Deepak Gupta (since 11-04-2025), Ruchi Fozdar (since 04-10-2024).

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.