EquitySmall Cap FundDirectIDCWVery High

Bandhan Small Cap Fund

Q: What is the NAV of Bandhan Small Cap Fund?

As of 01 Oct 2026, the NAV of Bandhan Small Cap Fund is ₹39.03 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has Bandhan Small Cap Fund delivered?

Bandhan Small Cap Fund has returned +3.74% over 1 year, +14.92% per year over 3 years, +12.07% per year over 5 years and +22.93% 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 Bandhan Small Cap Fund?

Bandhan Small Cap Fund charges an expense ratio of 0.61% 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 Bandhan Small Cap Fund?

Bandhan Small Cap Fund's largest holdings are REC Limited (2.4%), Sobha Limited (2.4%), LT Foods Limited (2.1%), State Bank of India (1.9%) and Cyient Limited (1.7%). Holdings are disclosed monthly and change over time.

Q: How risky is Bandhan Small Cap Fund?

Bandhan Small Cap Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 18.7% and its worst peak-to-trough fall in our sample was -26.5%. 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 0.45 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Bandhan Small Cap Fund's 0.45 means it has rewarded its volatility with excess return. Higher is better.

Q: What is the benchmark of Bandhan Small Cap Fund?

Bandhan 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 Bandhan Small Cap Fund?

Bandhan Small Cap Fund is managed by Manish Gunwani and Kirthi Jain at Bandhan.

Q: How is Bandhan Small Cap Fund taxed?

Bandhan 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.

Bandhan Mutual Fund · Best Small Cap Mutual Funds

NAV

₹39.03

-1.04% 1D

as of 01 Oct 2026

This is the Direct plan of Bandhan Small Cap Fund — bought from the fund house, with no distributor commission in 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 (+23.17% 3Y CAGR)

Performance

+4.63%CAGR

52-week rangePrev NAV ₹39.45

Latest ₹39.03

Low ₹31.0685th percentile of its 52-week rangeHigh ₹40.45

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 18.7% (no category average yet)

Cost—

0.6% 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

0.61%

Category —

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

15.66

Category —

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

0.45

Category —

Scheme Info

Definitions

Plan

Direct · IDCW

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

None

Entry Load: Nil Exit Load: 1% if redeemed/switched out within 1 year from the date of allotment Transaction Charges applicable for this Scheme as disclosed in SID and KIM.

1.00%

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

₹1,000

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.

26 Feb 2020

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

Definitions

Absolute return over the last 1 month (not annualized)

-1.89%

Absolute return over the last 3 months (not annualized)

+2.34%

Absolute return over the last 6 months (not annualized)

+21.26%

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

+3.49%

Annualized returns (≥1Y — CAGR)

Definitions

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

+3.74%

3-year annualized return (CAGR)

+14.92%

5-year annualized return (CAGR)

+12.07%

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.

+22.93%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

18.69%

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

0.45

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

0.58

Largest peak-to-trough decline over full history

-26.48%

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

1.66%

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

0.94

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

85.5%

Excess return per unit of beta (market risk)

9.41

Active return over the benchmark per unit of tracking error

0.13

Annualized std dev of fund-minus-benchmark returns

8.60%

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

101.0%

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

97.3%

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	-1.89%	—	—
3M abs	+2.34%	—	—
6M abs	+21.26%	—	—
1Y CAGR	+3.74%	—	—
3Y CAGR	+14.92%	—	—
5Y CAGR	+12.07%	—	—

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

₹8.42L

Absolute

+40.28%

XIRR

+13.93%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into Bandhan 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	+3.49%	+6.37%	-2.88%
2025	-6.86%	-5.29%	-1.57%
2024	+34.95%	+27.52%	+7.43%
2023	+47.36%	+49.76%	-2.40%
2022	-9.05%	-2.65%	-6.40%
2021	+47.79%	+63.41%	-15.62%
2020part	+51.50%	—	—

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

1,636

Expense ratio

0.61%

AUM

₹26,012Cr

Exit load

Entry Load: Nil Exit Load: 1% if redeemed/switched out within 1 year from the date of allotment Transaction Charges applicable for this Scheme as disclosed in SID and KIM.

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

P/E ratio

15.7

P/B ratio

3.0

Avg market cap

₹60,601Cr

P/E & P/B are portfolio-weighted harmonic means across 192 of 255 equity holdings (74% 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


Bandhan Small Cap FundThis fund Bandhan · Direct · IDCW	—	+3.74%	+14.92%	+12.07%	—	0.61%	₹26,012Cr
Bank of India Small Cap Fund Bank of India · Direct · IDCW	—	+29.25%	+21.62%	+20.05%	—	0.78%	₹2,235Cr
ITI Small Cap Fund ITI · Direct · IDCW	—	+17.07%	+20.95%	+16.95%	—	0.84%	₹2,977Cr
Mahindra Manulife Small Cap Fund Mahindra Manulife · Direct · IDCW	—	+11.00%	+17.63%	—	—	0.92%	₹4,512Cr
LIC MF Small Cap Fund LIC · Direct · IDCW	—	+14.84%	+17.60%	—	—	1.28%	₹673.88Cr
Quant Small Cap Fund quant · Direct · IDCW	—	+13.46%	+16.94%	+18.66%	—	0.90%	₹30,875Cr

Market-cap allocation · AMFI bands, Jul 2026

Equity holdings by company size — 100% of the equity sleeve priced.

Large cap8.1%
Mid cap12.7%
Small cap79.2%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity86.72%
Cash & Equivalents13.32%

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

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
Bandhan Large & Mid Cap Fund Bandhan · Large & Mid Cap Fund	19.9%	★★★★★	1.15%	+16.26%
HDFC Nifty Smallcap 250 Index Fund HDFC · Index Funds	18.8%	★★★★☆	0.33%	+12.76%
Motilal Oswal Nifty Smallcap 250 Index Fund Motilal Oswal · Index Funds	18.8%	★★★★☆	0.46%	+13.04%
Kotak Nifty SmallCap 250 Index Fund Kotak Mahindra · Index Funds	18.8%	★★★☆☆	0.39%	—
Nippon India Nifty Smallcap 250 Index Fund Nippon India · Index Funds	18.8%	★★★★☆	0.41%	+12.60%
ICICI Prudential Nifty Smallcap 250 Index Fund ICICI Prudential · Index Funds	18.8%	★★★★☆	0.44%	+12.74%
SBI Nifty Smallcap 250 Index Fund SBI · Index Funds	18.8%	★★★★☆	0.44%	+12.77%
Edelweiss Nifty Smallcap 250 Index Fund Edelweiss · Index Funds	18.8%	★★★★☆	0.25%	+13.16%

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)

8 holdings — 2.22% 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.

Shilpa Medicare LimitedLong-term · Stage I0.61%
Sterlite Technologies LimitedLong-term · Stage IV0.60%
Lalithaa Jewellery Mart LimitedShort-term · Stage I0.49%
Sansera Engineering LimitedLong-term · Stage I0.21%
GMM Pfaudler LimitedShort-term · Stage I0.14%
Filatex India LimitedLong-term · Stage I0.10%
ESDS Software Solution LimitedLong-term · Stage I0.06%
STL Networks LimitedLong-term · Stage I0.01%

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.

-26.5%11 Dec 2024 → 30 Mar 2026
Still below that high — 16 months down, and no recovery yet.
-24.4%18 Oct 2021 → 20 Jun 2022
Fell over 8 months, back to the old high on 09 Aug 2023 — 14 months under water after the low.
-18.1%26 Feb 2020 → 23 Mar 2020
Fell over 26 days, back to the old high on 22 Jun 2020 — 3 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.

Fund size over time

Quarterly average AUM · AMFI

₹26,012Cr

April - June 2026

+30%

since January - March 2026

+₹6,567Cr

est. net flow, last quarter

At or near its largest, ₹26,012Cr 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

Bandhan Mutual Fund is the former IDFC Mutual Fund, bought in 2022 by a consortium of Bandhan Financial Holdings, ChrysCapital and GIC and renamed the following year. It carries a long-established debt franchise alongside its equity and index schemes.

Launched

19 Dec 1999

Total AUM

₹2,04,046Cr+4.5% QoQ

Avg AUM · April - June 2026

Website

bandhanmutual.com

Fund Managers

MGManish GunwaniManaging since 28 Jan 2023

Role

Chief Investment Officer- Equity

Education

Post Graduate Diploma in Management IIM, Bangalore B-Tech - IIT, Madras

Experience

Mr. Manish Gunwani joined Bandhan AMC in January 2023 as Head - Equities. - He was earlier associated with Nippon Life India Asset Management Limited as Chief Investment (Equities) from September 2017 to December 2022 and had the overall responsibility of all equity schemes of Nippon Mutual Fund. Prior Innovation Fund - to that, he was associated with ICICI Prudential Asset Management Company Limited from June 2010 to August 2017 as Deputy Chief Investment Officer (Equities) and was the Fund Manager of two flagship equity schemes of ICICI Prudential Mutual Fund. (Total experience – 24 years).

Funds managed (7)

All schemes Manish Gunwani runs →

KJKirthi JainManaging since 05 Jun 2023

Education

Chartered Accountants of India (2011)

Experience

Mr. Kirthi Jain joined Bandhan AMC Limited on May 2023 in Fund Management. He was earlier associated with Canara HSBC Life Insurance as Assistant Fund Manager from June 2021 to May 2023 and with Sundaram Mutual Fund from Sep 2016 to June 2021 as Research Analyst in Equity investment team. Prior to that, he was associated with B&K Securities from Sep 2014 to Sep 2016 as Equity Research Analyst.

All schemes Kirthi Jain runs →

Fund managers from the AMC's filed Scheme Summary — its most recent filing for this scheme. Benchmark and dealing terms from it and 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

Manish Gunwani

Top holdings

REC Limited Sobha Limited LT Foods Limited State Bank of India Cyient Limited Cholamandalam Financial Holdings Limited Arvind Limited The South Indian Bank Limited Paradeep Phosphates Limited PNB Housing Finance Limited The Karnataka Bank Limited Sky Gold And Diamonds Limited

Bandhan 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.

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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 Bandhan Small Cap Fund?

As of 01 Oct 2026, the NAV of Bandhan Small Cap Fund is ₹39.03 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has Bandhan Small Cap Fund delivered?

Bandhan Small Cap Fund has returned +3.74% over 1 year, +14.92% per year over 3 years, +12.07% per year over 5 years and +22.93% 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 Bandhan Small Cap Fund?

Bandhan Small Cap Fund charges an expense ratio of 0.61% 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 Bandhan Small Cap Fund?

Bandhan Small Cap Fund's largest holdings are REC Limited (2.4%), Sobha Limited (2.4%), LT Foods Limited (2.1%), State Bank of India (1.9%) and Cyient Limited (1.7%). Holdings are disclosed monthly and change over time.

How risky is Bandhan Small Cap Fund?

Bandhan Small Cap Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 18.7% and its worst peak-to-trough fall in our sample was -26.5%. 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 0.45 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Bandhan Small Cap Fund's 0.45 means it has rewarded its volatility with excess return. Higher is better.

What is the benchmark of Bandhan Small Cap Fund?

Bandhan 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 Bandhan Small Cap Fund?

Bandhan Small Cap Fund is managed by Manish Gunwani and Kirthi Jain at Bandhan.

How is Bandhan Small Cap Fund taxed?

Bandhan 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.