Kotak Small Cap Fund
This is the Direct plan of Kotak Small Cap Fund — bought from the fund house, with no distributor commission in its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.
Performance
Scorecard
★★★☆☆3/5 vs 24 of 35 Small Cap Fund peers- Performance 60%
- Risk 15%
- Cost 10%
- Downside 15%
How this is computed
Each verdict is computed from this fund's own metrics against its sub-category — the number behind it is shown, not a black-box rating. The stars weight the same ground 60/15/10/15 (performance/risk/cost/downside) across every fund in the peer group. Ranked within Small Cap Fund (same plan and option). 24 of the 35 Small Cap Funds in this cohort carry the full record the stars need, so they are the ones ranked against.
3Y CAGR +11.62% · ranks 20 of 24 Small Cap Funds
Volatility 15.4% vs 16.9% category avg
0.6% expense vs 1.0% category avg
96% of rolling 3Y windows were positive
Strengths & concerns
Generated from this fund's own numbers against its sub-category — each point names the figure behind it.
Strengths
- Low expense ratio (0.65%) vs the Small Cap Fund average of 0.96%
- Consistent — positive in 96% of rolling 3-year windows
Concerns
- Trails the Small Cap Fund average on 1M/3M/6M/1Y — 1Y by 6.21pp
- 3-year return (+11.62%) trails the Small Cap Fund average (+15.57%)
- 5-year return (+12.03%) trails the Small Cap Fund average (+16.01%)
- Weaker risk-adjusted returns — Sharpe 0.33 below the Small Cap Fund average of 0.52
Key Metrics
Scheme Info
DefinitionsPeriod returns (<1Y, absolute — not annualized)
DefinitionsAnnualized returns (≥1Y — CAGR)
DefinitionsAdvanced metrics — risk and benchmark ratios
Fund vs category average (Small Cap Fund)
| Period | Fund | Category avg. | Diff |
|---|---|---|---|
| 1M abs | -3.65% | -2.95% | -0.70% |
| 3M abs | +0.48% | +2.05% | -1.57% |
| 6M abs | +20.34% | +24.29% | -3.95% |
| 1Y CAGR | +5.79% | +12.00% | -6.21% |
| 3Y CAGR | +11.62% | +15.57% | -3.95% |
| 5Y CAGR | +12.03% | +16.01% | -3.98% |
Category average across peers in Small Cap Fund (up to 35 funds with data), same plan and option, excluding this fund. Under-1-year figures are absolute; 1Y and beyond are annualised (CAGR).
Not sure what a figure means? The glossary explains every metric, and the methodology shows the formulas.
Category rank
Vs 35 peers in Small Cap Fund
Backtest this fund
What a SIP or one-time investment would have grown to over this fund’s real NAV history.
60 monthly installments of ₹10,000 into Kotak Small Cap Fund, valued at the latest NAV. XIRR annualizes for each installment’s timing.
Calendar-year returns
What the fund actually returned in each year, not the smoothed average.
| Year | Fund | Nifty Smallcap 250 TRI | Diff | |
|---|---|---|---|---|
| 2026part | +7.86% | +6.37% | +1.49% | |
| 2025 | -8.05% | -5.29% | -2.76% | |
| 2024 | +26.96% | +27.52% | -0.56% | |
| 2023 | +36.51% | +49.76% | -13.25% | |
| 2022 | -1.72% | -2.65% | +0.93% | |
| 2021 | +73.47% | +63.41% | +10.06% | |
| 2020 | +36.14% | +27.11% | +9.03% | |
| 2019 | +6.51% | -7.26% | +13.77% | |
| 2018 | -16.30% | -26.33% | +10.03% | |
| 2017 | +46.20% | +58.25% | -12.05% |
January–December, from this fund's NAV history. Absolute return, not annualised. “part” marks a year the fund didn't run end to end — its first year, the current year so far, or one it stopped reporting in; those years show no benchmark comparison.
Taxation
Taxed as equityThis is an equity-oriented fund (≥65% in Indian equities), so gains get the concessional capital-gains rates below — they do not add to your income-tax slab.
Flat, on the whole gain
On gains above ₹1.25 L per financial year
Applies to capital gains on redemption. Excludes IDCW/dividend tax, STT, surcharge and cess, and pre-2018 equity grandfathering. For research only — consult a tax advisor before filing.
Asset allocation
As on 31 Aug 2026 · AMC disclosure- Equity99.05%
- Cash & Equivalents0.95%
Fund size over time
Quarterly average AUM · AMFIAt or near its largest, ₹17,410Cr in April - June 2026. Size matters most where the mandate is narrow — a large small-cap or a very large flexi-cap book is harder to move without moving the price.
Net flow is an estimate: AMFI publishes a quarterly average AUM, not a closing balance, and it covers every plan and option of this scheme together, so it is a read on direction and rough size rather than a cash-flow statement.
AMC Profile
Kotak Mahindra Mutual Fund is run by Kotak Mahindra Asset Management, part of the Kotak Mahindra Bank group, and has been in the business since 1998. It was the first Indian fund house to launch a dedicated gilt scheme, and today runs one of the country's larger equity and debt line-ups.
Fund Managers
HBHarish BihaniManaging since 20 Oct 2023
Equity Fund Manager
MBA (Finance)
Harish Bihani has over 17 years of experience in equity research and fund management. Prior to joining KMAMC, Mr. Bihani was associated with ICICI Prudential Mutual Fund as a fund manager. He has also worked with SBI Mutual Fund and Kotak Institutional Equities as research analyst.
Fund manager, benchmark and dealing terms from this scheme's SEBI-filed Scheme Information Document on AMFI. Each manager's qualifications and role are reconciled across every filing this fund house makes for them, including its Statement of Additional Information. Total AUM via AMFI.
Explore from here
Kotak Mahindra in the news
Headlines about the fund house, not this scheme in particular — highlights only; tap through to read the full story at the source.
Kotak Mahindra MF introduces Nifty 500 Index Fund
Investment Guru India · 2h ago
Ola Electric promoter Bhavish Aggarwal pledges 4.32% stake to fund rights issue subscription
IndiaIPO · 7h ago
Mutual funds now offer nearly 2,000 schemes; passive funds account for one-third of the shelf
cafemutual.com · 2d ago
Kotak Short Term Plan Growth - Regular - Latest NAV [ ₹55.2317 ], Returns, Performance, Portfolio & Returns 2026
ClearTax · 3d ago
Kotak Multi Sector Omni FOF - Direct (G)
Multibagg AI · 3d ago
Avalon Tech block deal: Promoters divest 6% stake worth Rs 871 crore
inkl.com · 4d ago
TPG sells Rs 114 crore Shadowfax shares; Kotak Mahindra AMC buys 3.59% stake in Avalon Technologies
Moneycontrol.com · 4d ago
Avalon Technologies Promoters Dilute 6% Stake for Rs 871 Cr
Rediff MoneyWiz · 4d ago
Returns and risk are computed from NAV history and may differ slightly from other portals due to methodology (rolling vs point-to-point, dividend treatment). For research only — not investment advice.
About Small Cap funds
Small cap funds invest in companies beyond the top 250 by size. They offer the highest growth potential of any equity category and also the sharpest falls, so they suit long horizons and strong stomachs.
From the blog
Small-cap funds in July 2026: up 25% from the March low
10 Jul 2026
By 9 July 2026 the median small-cap fund had risen 25.53% from its March low, and 23 of 34 stood above their pre-March peaks. The index is still 4% short.
Small-cap fund returns in April 2026, after the fall
10 Apr 2026
To 9 April 2026 the median small-cap fund returned 11.39% over a year and 18.84% a year over three. Only 4 of 23 beat the index over three years.
Small-cap funds in the March fall: 15% below their peaks
16 Mar 2026
On 13 March 2026 the median small-cap fund sat 14.93% below its all-time high and 13.14% below its 52-week high. Which funds held up and which fell furthest.
Frequently asked questions
What is the NAV of Kotak Small Cap Fund?
As of 01 Oct 2026, the NAV of Kotak Small Cap Fund is ₹317.69 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.
What returns has Kotak Small Cap Fund delivered?
Kotak Small Cap Fund has returned +5.79% over 1 year, +11.62% per year over 3 years, +12.03% per year over 5 years and +18.58% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.
What is the expense ratio of Kotak Small Cap Fund?
Kotak Small Cap Fund charges an expense ratio of 0.65% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.
What are the top holdings of Kotak Small Cap Fund?
Kotak Small Cap Fund's largest holdings are ASTER DM HEALTHCARE LTD (4.3%), VIJAYA DIAGNOSTIC CENTRE PVT (4.2%), Sansera Engineering Ltd (4.2%), KRISHNA INSTITUTE OF MEDICAL (3.3%) and KALPATARU PROJECTS INTERNATIONAL LIMITED (2.5%). Holdings are disclosed monthly and change over time.
How risky is Kotak Small Cap Fund?
Kotak Small Cap Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 15.4% and its worst peak-to-trough fall in our sample was -40.6%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.
What does the Sharpe ratio of 0.33 mean?
The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Kotak Small Cap Fund's 0.33 means it has rewarded its volatility with excess return. Higher is better.
What is the benchmark of Kotak Small Cap Fund?
Kotak Small Cap Fund is benchmarked against the NIFTY Smallcap 250 TRI. Its alpha and beta on this page are measured against that index.
Who manages Kotak Small Cap Fund?
Kotak Small Cap Fund is managed by Harish Bihani at Kotak Mahindra.
How is Kotak Small Cap Fund taxed?
Kotak Small Cap Fund is an equity-oriented fund, so its capital gains get concessional rates: short-term gains (units held under 1 year) are taxed at 20%, and long-term gains (held 1 year or more) at 12.5% above a ₹1.25 lakh per-year exemption. These rates apply on redemption and don't add to your income-tax slab.