ITI Small Cap Fund vs Mahindra Manulife Small Cap Fund
ITI Small Cap Fund (Direct) and Mahindra Manulife Small Cap Fund (Direct) head to head: growth of ₹100, returns across every window, risk, cost, and portfolio overlap — every figure computed from AMFI NAV history, nothing supplied by a fund house. Both are Small Cap Fund schemes — see the best small cap mutual funds for the full ranking.
Head to head
NAVs as of 09 Nov 2026
Growth of ₹100 (rebased over the selected window)
Common period 14 Dec 2022 – 09 Nov 2026, limited by Mahindra Manulife Small Cap Fund. Every series is rebased to ₹100 at the start of this window. Benchmark lines are the category index WealthTicker measures against, which is not always the benchmark the scheme itself declares — the fund page’s Scheme Info names that one.
View as table
| Date | ITI Small Cap Fund | Mahindra Manulife Small Cap Fund | Nifty Smallcap 250 TRI |
|---|---|---|---|
| 14 Dec 2022 | ₹100.00 | ₹100.00 | ₹100.00 |
| 12 Apr 2023 | ₹97.81 | ₹100.39 | ₹92.46 |
| 09 Aug 2023 | ₹118.83 | ₹127.97 | ₹116.97 |
| 06 Dec 2023 | ₹143.34 | ₹152.70 | ₹139.01 |
| 02 Apr 2024 | ₹163.53 | ₹171.03 | ₹153.43 |
| 30 Jul 2024 | ₹198.54 | ₹210.75 | ₹185.58 |
| 26 Nov 2024 | ₹198.07 | ₹203.21 | ₹179.81 |
| 25 Mar 2025 | ₹178.21 | ₹178.87 | ₹157.62 |
| 22 Jul 2025 | ₹205.81 | ₹205.81 | ₹185.51 |
| 18 Nov 2025 | ₹203.68 | ₹206.84 | ₹177.52 |
| 16 Mar 2026 | ₹180.63 | ₹184.12 | ₹154.76 |
| 13 Jul 2026 | ₹234.17 | ₹227.17 | ₹190.39 |
| 09 Nov 2026 | ₹236.61 | ₹236.25 | ₹184.72 |
Portfolio overlap (same stocks held through more than one fund)
Some overlap is structural: SEBI defines large cap as the top 100 stocks by market capitalisation, so two large-cap funds are fishing the same pond by regulation. The bands below are measured per sleeve pairing rather than against one blanket threshold. How this is measured →
- 58 stocks only in ITI Small Cap Fund
- 25 stocks in both — 26.0% of each portfolio by weight
- 58 stocks only in Mahindra Manulife Small Cap Fund
The more the circles overlap, the more the funds hold the same stocks.
ITI Small Cap Fund and Mahindra Manulife Small Cap Fund share 26% of their equity book by weight.
Shared holdings — ITI Small Cap Fund vs Mahindra Manulife Small Cap Fund
| Stock | ITI Small Cap Fund | Mahindra Manulife Small Cap Fund | |
|---|---|---|---|
| Acutaas Chemicals Limited | 4.70% | 2.03% | 2.03% |
| Multi Commodity Exchange of India Limited | 1.95% | 3.48% | 1.95% |
| Ather Energy Limited | 1.81% | 2.09% | 1.81% |
| Karur Vysya Bank Limited | 2.28% | 1.71% | 1.71% |
| Sona BLW Precision Forgings Limited | 1.69% | 1.85% | 1.69% |
| Arvind Limited | 1.44% | 2.28% | 1.44% |
| Solar Industries India Limited | 1.40% | 1.70% | 1.40% |
| Neuland Laboratories Limited | 1.40% | 2.37% | 1.40% |
| Laurus Labs Limited | 2.95% | 1.20% | 1.20% |
| ZF Commercial Vehicle Control Systems India Limited | 1.12% | 1.37% | 1.12% |
| Manappuram Finance Limited | 1.05% | 1.42% | 1.05% |
| Ujjivan Small Finance Bank Limited | 0.93% | 1.43% | 0.93% |
| Welspun Corp Limited | 2.68% | 0.92% | 0.92% |
| Blue Star Limited | 0.97% | 0.91% | 0.91% |
| Kajaria Ceramics Limited | 0.90% | 0.86% | 0.86% |
10 more stocks in common. 25 shared of 83 / 83 positions. Weights are shown as a share of each fund's equity book.
What differs, in plain wordsAI
| Metric | ITI · Direct NAV ₹37.32 Very High risk ★★★★☆ | Mahindra Manulife · Direct NAV ₹23.68 Very High risk ★★★☆☆ | Category median Small Cap Fund · 37 funds |
|---|---|---|---|
| +16.77%Best in row | +14.80% | +9.22% | |
| +21.66%Best in row | +18.86% | +13.79% | |
| +16.57% | — | +14.28% | |
| +21.65% | +24.63% | +18.78% | |
| +21.79% | — | — | |
| +26.27%Best in row | +23.03% | +21.16% | |
| +23.11% | — | +21.04% | |
| Risk | |||
| 19.47% | 18.47%Best in row | 17.08% | |
| 0.78Best in row | 0.67 | 0.44 | |
| 1.04Best in row | 0.90 | 0.59 | |
| -39.86% | -26.00% | -29.77% | |
| +8.66%Best in row | +5.17% | +1.57% | |
| 100.7% | 101.6% | 88.9% | |
| 67.6%Best in row | 83.2% | 80.8% | |
| 0.84%Best in row | 0.93% | 0.91% | |
| ₹3,533Cr | ₹5,252Cr | ₹5,406Cr | |
| Up to 0.50% | Up to 1.00% | — | |
| ₹5.00K | ₹1.00K | — | |
| 124% | 88% | 45% | |
| Dhimant Shah · 4.3y | Manish Lodha · 3.9y | — | |
| 17 Feb 2020 | 12 Dec 2022 | — | |
| 22.5% | 27.9% | — | |
| 5.0% | 2.2% | — | |
7 rows carry the same value for every fund — show
- 10Y return (CAGR)
- —
- 10Y rolling avg
- —
- Benchmark
- Nifty Smallcap 250 TRI
- Beta
- 0.88
- Lock-in
- None
- Min SIP
- ₹500
- Holdings
- 83
Best marks the strongest value in a row, and only where the gap is bigger than noise — a near-tie is left unmarked rather than dressed up as a result. SIP XIRR is a ₹10,000/month instalment over 5 years of real NAV history. Nothing here is supplied by a fund house. For research only — not investment advice.
Frequently asked questions
Which fund has delivered higher returns — ITI Small Cap Fund or Mahindra Manulife Small Cap Fund?
Over the last 3 years, ITI Small Cap Fund returned +21.66% CAGR against Mahindra Manulife Small Cap Fund's +18.86%, computed from AMFI NAV history. Past returns don't guarantee future performance.
Which fund is cheaper — ITI Small Cap Fund or Mahindra Manulife Small Cap Fund?
ITI Small Cap Fund has the lower expense ratio: ITI Small Cap Fund charges 0.84% a year against Mahindra Manulife Small Cap Fund's 0.93%. The expense ratio is deducted from the NAV daily, so a lower one compounds in the investor's favour.
Which fund is riskier — ITI Small Cap Fund or Mahindra Manulife Small Cap Fund?
ITI Small Cap Fund has shown higher volatility (+19.47% annualized vs Mahindra Manulife Small Cap Fund's +18.47%), measured as the annualized standard deviation of daily returns over the trailing 3 years. Worst 3-year drawdown: ITI Small Cap Fund -24.17% vs Mahindra Manulife Small Cap Fund -26.00%.
Which fund manages more money — ITI Small Cap Fund or Mahindra Manulife Small Cap Fund?
Mahindra Manulife Small Cap Fund is the larger fund: ITI Small Cap Fund manages ₹3,533Cr against Mahindra Manulife Small Cap Fund's ₹5,252Cr in assets. Size cuts both ways — scale lowers costs, but a very large fund can find it harder to move in and out of positions.
Are ITI Small Cap Fund and Mahindra Manulife Small Cap Fund in the same category?
Yes — both are Small Cap Fund schemes, so their returns, risk and cost are directly comparable against the same peer set.
Figures update daily from AMFI NAV history; ratings and ranks are WealthTicker’s own — see the methodology. This is data, not investment advice.