EquitySmall Cap FundRegularIDCWVery High

Invesco India Small Cap Fund

Q: What is the NAV of Invesco India Small Cap Fund?

As of 01 Oct 2026, the NAV of Invesco India Small Cap Fund is ₹33.20 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has Invesco India Small Cap Fund delivered?

Invesco India Small Cap Fund has returned +1.22% over 1 year, +7.26% per year over 3 years, +9.95% per year over 5 years and +16.24% 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.

Q: What is the expense ratio of Invesco India Small Cap Fund?

Invesco India Small Cap Fund charges an expense ratio of 1.84% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

Q: What are the top holdings of Invesco India Small Cap Fund?

Invesco India Small Cap Fund's largest holdings are Sai Life Sciences Limited (5.0%), Eternal Limited (4.6%), Amber Enterprises India Limited (4.0%), Aditya Infotech Limited (3.8%) and Krishna Institute Of Medical Sciences Limited (3.5%). Holdings are disclosed monthly and change over time.

Q: How risky is Invesco India Small Cap Fund?

Invesco India Small Cap Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 20.9% and its worst peak-to-trough fall in our sample was -37.7%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Q: What does the Sharpe ratio of 0.04 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Invesco India Small Cap Fund's 0.04 means it has rewarded its volatility with excess return. Higher is better.

Q: What is the benchmark of Invesco India Small Cap Fund?

Invesco India Small Cap Fund is benchmarked against the BSE 250 Smallcap TRI. Its alpha and beta on this page are measured against that index.

Q: Who manages Invesco India Small Cap Fund?

Invesco India Small Cap Fund is managed by Taher Badshah and Aditya Khemani at Invesco.

Q: How is Invesco India Small Cap Fund taxed?

Invesco India 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.

Invesco Mutual Fund · Best Small Cap Mutual Funds

NAV

₹33.20

-0.84% 1D

as of 01 Oct 2026

This is the Regular plan of Invesco India Small Cap Fund — bought through a distributor, whose commission is paid out of its expense ratio. Income is distributed, which is why this NAV sits below the growth plan of the same fund.

Compare SIP calculator

This is the IDCW (dividend) option — it pays its earnings out as dividends rather than reinvesting them, so every payout steps the NAV down and the return figures below leave those payouts out. Your actual return was higher by whatever was distributed. That’s expected for a payout plan, not missing data.

View the Growth plan for compounded returns (+19.92% 3Y CAGR)

Performance

+1.96%CAGR

52-week rangePrev NAV ₹33.48

Latest ₹33.20

Low ₹26.2680th percentile of its 52-week rangeHigh ₹34.93

Scorecard

Not rated

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. Not rated — too few comparable Equity funds (same plan and option) to rank against yet.

Performance—

Not enough Small Cap Fund peers to rank yet

Risk—

Volatility 20.9% (no category average yet)

Cost—

1.8% expense (no category average yet)

ConsistencyHigh

100% 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

Consistent — positive in 100% of rolling 3-year windows

Concerns

No significant concerns identified.

Key Metrics

Annual fee charged by the fund, already deducted from NAV

1.84%

Category —

Portfolio-weighted harmonic mean P/E across the fund's equity holdings

42.86

Category —

Excess return per unit of total volatility (rf = 6.5%)

0.04

Category —

Scheme Info

Definitions

Plan

Regular · IDCW

Period before units can be redeemed — 3 years for ELSS, none for most open-ended funds

None

If upto 10% of Units allotted are redeemed / switched-out within 1 year from the date of allotment - Nil . For any redemption / switchout in excess of 10% of units allotted within one year from the date of allotment - 1%. If units are redeemed or switched-out after 1 year from the date of allotment - Nil .

Up to 1.00%

tiered — see the full terms

Statutory levy on every mutual-fund purchase since 1 Jul 2020 (SEBI / Govt of India) — the same for every scheme

0.005%

SIP Inv.

Allowed

Smallest recurring SIP instalment the scheme accepts

₹100

Smallest one-time (lumpsum) investment the scheme accepts

₹100

BSE 250 Smallcap TRI

Start of our NAV history for this plan. Direct plans begin 1 Jan 2013, so this is the plan's inception — not necessarily the scheme's original launch date.

02 Nov 2018

Period returns (<1Y, absolute — not annualized)

Definitions

Absolute return over the last 1 month (not annualized)

-4.21%

Absolute return over the last 3 months (not annualized)

-0.78%

Absolute return over the last 6 months (not annualized)

+23.24%

Absolute return since 1 Jan of this year (not annualized)

-0.06%

Annualized returns (≥1Y — CAGR)

Definitions

1-year point-to-point return, annualized (CAGR)

+1.22%

3-year annualized return (CAGR)

+7.26%

5-year annualized return (CAGR)

+9.95%

10-year annualized return (CAGR)

—

Annualized return (CAGR) since the first NAV we hold for this plan — the Inception date under Key metrics. AMFI's history starts in April 2006, so an older scheme is measured from there.

+16.24%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

20.87%

Excess return per unit of total volatility (rf = 6.5%)

0.04

Excess return per unit of downside deviation — upside swings aren't penalized (rf = 6.5%)

0.04

Largest peak-to-trough decline over full history

-37.72%

Benchmark ratios (vs Nifty Smallcap 250 TRI · 36 monthly returns)

Definitions

Jensen's alpha (annualized): return above what CAPM predicts for the fund's beta vs Nifty Smallcap 250 TRI

-4.72%

Sensitivity to Nifty Smallcap 250 TRI moves; 1 = moves with the index

0.95

How much of the fund's movement Nifty Smallcap 250 TRI explains

70.3%

Excess return per unit of beta (market risk)

1.14

Active return over the benchmark per unit of tracking error

-0.49

Annualized std dev of fund-minus-benchmark returns

13.60%

Fund's share of benchmark gains in up months (100 = matches index)

87.0%

Fund's share of benchmark losses in down months (lower is better)

106.5%

Computed vs the Nifty Smallcap 250 TRI over the last 36 complete months — the closest match to this fund's mandate. TRI means dividends reinvested, as they are in the fund's own NAV; ₹ means a US index converted at each day's USD/INR, since the fund is priced in rupees. Needs ~3 years of history; a low R² means the fund tracks the index loosely.

Fund vs category average (Small Cap Fund)

Period	Fund	Category avg.	Diff
1M abs	-4.21%	—	—
3M abs	-0.78%	—	—
6M abs	+23.24%	—	—
1Y CAGR	+1.22%	—	—
3Y CAGR	+7.26%	—	—
5Y CAGR	+9.95%	—	—

Category average across peers in Small Cap Fund, 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.

Backtest this fund

What a SIP or one-time investment would have grown to over this fund’s real NAV history.

Monthly investment (₹)

Period

Invested

₹6.00L

Current value

₹7.41L

Absolute

+23.42%

XIRR

+8.62%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into Invesco India 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	-0.06%	+6.37%	-6.43%
2025	-11.37%	-5.29%	-6.08%
2024	+19.82%	+27.52%	-7.70%
2023	+44.08%	+49.76%	-5.68%
2022	-0.64%	-2.65%	+2.01%
2021	+62.33%	+63.41%	-1.08%
2020	+24.86%	+27.11%	-2.25%
2019	+3.85%	-7.26%	+11.11%
2018part	+2.87%	—	—

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.

History points

1,949

Expense ratio

1.84%

AUM

₹11,496Cr

Portfolio turnover

30%

Exit load

Portfolio, AUM & scheme details shown from another plan of this scheme (same underlying portfolio).

P/E ratio

42.9

P/B ratio

6.0

Avg market cap

₹57,721Cr

P/E & P/B are portfolio-weighted harmonic means across 53 of 69 equity holdings (75% of the portfolio); loss-making companies are excluded.

Taxation

Taxed as equity

This 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.

Short-term (STCG)

20%

Held under 1 year

Flat, on the whole gain

Long-term (LTCG)

12.5%

Held 1 year or more

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.

Peer comparison · Small Cap Fund

Compare all


Invesco India Small Cap FundThis fund Invesco · Regular · IDCW	—	+1.22%	+7.26%	+9.95%	—	1.84%	—
Bank of India Small Cap Fund Bank of India · Regular · IDCW	—	+27.45%	+19.87%	+18.24%	—	2.22%	₹2,235Cr
ITI Small Cap Fund ITI · Regular · IDCW	—	+15.09%	+18.87%	+14.83%	—	2.20%	₹2,977Cr
LIC MF Small Cap Fund LIC · Regular · IDCW	—	+13.31%	+16.17%	—	—	2.61%	₹673.88Cr
Quant Small Cap Fund quant · Regular · IDCW	—	+12.49%	+15.89%	+17.36%	—	1.73%	₹30,875Cr
Mahindra Manulife Small Cap Fund Mahindra Manulife · Regular · IDCW	—	+9.27%	+15.83%	—	—	2.20%	₹4,512Cr

Market-cap allocation · AMFI bands, Jul 2026

Equity holdings by company size — 98% of the equity sleeve priced.

Large cap12.3%
Mid cap26.7%
Small cap61.0%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity95.25%
Cash & Equivalents4.75%

which companies this fund invests in

As on 31 Aug 2026 · AMC disclosure

Sai Life Sciences Limited

5.04%

Eternal Limited

4.60%

Amber Enterprises India Limited

4.00%

Aditya Infotech Limited

3.78%

Krishna Institute Of Medical Sciences Limited

3.54%

InterGlobe Aviation Limited

3.31%

Max Healthcare Institute Limited

3.03%

Craftsman Automation Limited

2.58%

Paradeep Phosphates Limited

2.55%

Dr Agarwals Health Care Limited

2.44%

Holds the same stocks as (by portfolio overlap, not by category)

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
Invesco India Large & Mid Cap Fund Invesco · Large & Mid Cap Fund	53.0%	★★★★★	0.79%	+21.14%
Invesco India Business Cycle Fund Invesco · Sectoral/ Thematic	47.5%	★★★★☆	0.84%	—
Invesco India Multi Cap Fund Invesco · Multi Cap Fund	45.5%	★★☆☆☆	0.93%	+11.70%
Invesco India Mid Cap Fund Invesco · Mid Cap Fund	45.4%!	★★★★★	0.76%	+21.83%
Invesco India Consumption Fund Invesco · Sectoral/ Thematic	38.7%	—	1.17%	—
Invesco India Flexi Cap Fund Invesco · Flexi Cap Fund	28.6%!	★★★★☆	0.88%	+16.11%
Axis Services Opportunities Fund Axis · Sectoral/ Thematic	22.7%	★★☆☆☆	0.94%	—
Union Innovation & Opportunities Fund Union · Sectoral/ Thematic	22.6%	★★★☆☆	0.99%	+17.58%

Overlap is the share of each fund's equity book invested in the same stocks, by weight, across the Direct-plan universe — so a fund that is only part equity is labelled as such. ! marks a pair holding more in common than nine pairs in ten of its type, where that type has a measured distribution.

🚩Holdings under NSE surveillance (ASM)

1 holding — 0.03% of the portfolio — sit in stocks NSE currently lists under its Additional Surveillance Measure. ASM is an exchange response to unusual price or volume activity (higher margins, and trade-for-trade settlement at stage II), not a view on the company or on this fund.

Milky Mist Dairy Food LimitedLong-term · Stage IV0.03%

Source: NSE ASM list, matched to holdings by company name — a holding whose name differs from NSE's spelling may not be matched. BSE's separate list is not covered.

Worst falls, and the wait to get back

How far this fund has dropped from a high, and how long it took to reclaim it.

-37.7%20 Feb 2020 → 24 Mar 2020
Fell over 33 days, back to the old high on 27 Nov 2020 — 8 months under water after the low.
-32.0%16 Dec 2024 → 30 Mar 2026
Still below that high — 15 months down, and no recovery yet.
-22.7%17 Jan 2022 → 20 Jun 2022
Fell over 5 months, back to the old high on 17 May 2023 — 11 months under water after the low.

Measured on this fund’s own NAV history, peak to trough to the day it regained the peak. Falls shallower than 5% are left out. A recovery date is when the NAV got back, not when any particular investor did — that depends on when they bought.

AMC Profile

Invesco Mutual Fund is the Indian arm of Invesco, the US asset manager. It began life as Lotus India Mutual Fund, was bought by Religare in 2008 and ran as Religare Invesco until Invesco took full ownership in 2016.

Launched

23 Jul 2006

Total AUM

₹1,64,687Cr+12.8% QoQ

Avg AUM · July - September 2026

Website

invescomutualfund.com

Fund Managers

TBTaher BadshahStart date not disclosed

Role

Chief Investment Officer - Equities & Debt

Total experience

More than 30 years

Education

BE (Electronics), MMS (Finance), Mumbai University

Experience

January 10, 2017 – till date Invesco Asset Management (India) Pvt. Ltd. June 22, 2010 – December 9, 2016 Senior Vice President and Head of Equities - Motilal Oswal Asset Management Company Ltd.

Funds managed (6)

All schemes Taher Badshah runs →

AKAditya KhemaniStart date not disclosed

Role

EVP & Fund Manager - Equity

Total experience

More than 20 years

Education

B.Com., PGDM - Finance (IIM, Lucknow)

Experience

November 1, 2023 onwards Invesco Asset Management (India) Pvt. Ltd. July 24, 2019 to October 31, 2023 EVP & Fund Manager - Equity - Motilal Oswal Asset Management India Company Limited October 1, 2007 to July 23, 2019 SVP and Fund Manager - Equity - HSBC Asset Management (India) Pvt. Ltd.

Funds managed (4)

All schemes Aditya Khemani runs →

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

Fund managers

Taher Badshah Aditya Khemani

Top holdings

Sai Life Sciences Limited Eternal Limited Amber Enterprises India Limited Aditya Infotech Limited Krishna Institute Of Medical Sciences Limited InterGlobe Aviation Limited Max Healthcare Institute Limited Craftsman Automation Limited Paradeep Phosphates Limited Dr Agarwals Health Care Limited Prestige Estates Projects Limited Karur Vysya Bank Limited

Invesco 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.

Run SIP calculator Add to compare

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.

Frequently asked questions

What is the NAV of Invesco India Small Cap Fund?

As of 01 Oct 2026, the NAV of Invesco India Small Cap Fund is ₹33.20 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has Invesco India Small Cap Fund delivered?

Invesco India Small Cap Fund has returned +1.22% over 1 year, +7.26% per year over 3 years, +9.95% per year over 5 years and +16.24% 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 Invesco India Small Cap Fund?

Invesco India Small Cap Fund charges an expense ratio of 1.84% 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 Invesco India Small Cap Fund?

Invesco India Small Cap Fund's largest holdings are Sai Life Sciences Limited (5.0%), Eternal Limited (4.6%), Amber Enterprises India Limited (4.0%), Aditya Infotech Limited (3.8%) and Krishna Institute Of Medical Sciences Limited (3.5%). Holdings are disclosed monthly and change over time.

How risky is Invesco India Small Cap Fund?

Invesco India Small Cap Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 20.9% and its worst peak-to-trough fall in our sample was -37.7%. 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 0.04 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Invesco India Small Cap Fund's 0.04 means it has rewarded its volatility with excess return. Higher is better.

What is the benchmark of Invesco India Small Cap Fund?

Invesco India Small Cap Fund is benchmarked against the BSE 250 Smallcap TRI. Its alpha and beta on this page are measured against that index.

Who manages Invesco India Small Cap Fund?

Invesco India Small Cap Fund is managed by Taher Badshah and Aditya Khemani at Invesco.

How is Invesco India Small Cap Fund taxed?

Invesco India 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.