Bandhan Small Cap Fund
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 retained in the fund, so it shows up as NAV rather than as a payout.
Performance
Scorecard
★★★★★5/5 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 +23.17% · ranks 1 of 24 Small Cap Funds
Volatility 17.5% vs 16.8% category avg
0.6% expense vs 1.0% category avg
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
- 3-year return (+23.17%) beats the Small Cap Fund average (+15.07%)
- 5-year return (+19.30%) beats the Small Cap Fund average (+15.65%)
- Stronger risk-adjusted returns — Sharpe 0.95 vs 0.50 Small Cap Fund average
- Low expense ratio (0.61%) vs the Small Cap Fund average of 0.96%
- Consistent — positive in 100% of rolling 3-year windows
Concerns
- 1-year return (+10.49%) trails the Small Cap Fund average (+11.85%)
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 | -1.89% | -3.00% | +1.11% |
| 3M abs | +2.34% | +1.99% | +0.35% |
| 6M abs | +21.27% | +24.26% | -2.99% |
| 1Y CAGR | +10.49% | +11.85% | -1.36% |
| 3Y CAGR | +23.17% | +15.07% | +8.10% |
| 5Y CAGR | +19.30% | +15.65% | +3.65% |
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 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 | +10.23% | +6.37% | +3.86% | |
| 2025 | +0.12% | -5.29% | +5.41% | |
| 2024 | +45.18% | +27.52% | +17.66% | |
| 2023 | +55.85% | +49.76% | +6.09% | |
| 2022 | -4.58% | -2.65% | -1.93% | |
| 2021 | +55.38% | +63.41% | -8.03% | |
| 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.
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- Equity86.72%
- Cash & Equivalents13.32%
Fund size over time
Quarterly average AUM · AMFIAt 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.
Fund Managers
MGManish GunwaniManaging since 28 Jan 2023
Chief Investment Officer- Equity
Post Graduate Diploma in Management IIM, Bangalore B-Tech - IIT, Madras
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).
KJKirthi JainManaging since 05 Jun 2023
Chartered Accountants of India (2011)
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.
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
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.
Bandhan Ultra Short to Short Term Fund Direct-IDCW Weekly
The Economic Times · 4d ago
Bandhan 10 year Constant Maturity Gilt Fund - Dir - Growth
ClearTax · 4d ago
Bandhan Mutual Fund raises EPL Ltd stake to 7.36% via open market buy
scanx.trade · 5d ago
Dalmia Bharat Refractories sells 11.1% stake in RHI Magnesita to Clarus Capital, Bandhan MF, SBI MF,...
Moneycontrol.com · 12d ago
Bandhan Small Cap Fund August portfolio: Cyient, P N Gadgil see higher holdings; 4 stocks added, 6 exited
Livemint · 18d ago
Bandhan Mutual Fund raises Mastek stake to 5.05% via open market buy
scanx.trade · 20d ago
Bandhan Mutual Fund raises Cyient stake to 5.03% via open market
scanx.trade · 28d ago
Bandhan Mutual Fund Buys 58.65 Lakh EPL Shares, Raises Stake To 5.3%
NDTV Profit · 03 Sep 2026
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: median up 12.4% while large caps fell
02 Oct 2026
In the year to 1 October 2026 the median small-cap fund gained 12.41%; only 2 of 31 lost money. The 1, 3, 5 and 10-year spread, best, worst and drawdowns.
How much cash equity funds hold: 3.3% in August 2026
01 Oct 2026
Equity funds held 3.34% of their money in cash on 31 August 2026, ₹1,30,312 crore. Small-cap funds held 6.59%, large caps 1.64%. Who holds the most.
The most expensive equity funds, even on direct plans
01 Oct 2026
The median direct-plan equity fund charged 1.07% a year at the end of September 2026. 21 of 540 charged 2% or more, and the dearest 3.20%.
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 ₹56.09 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 +10.49% over 1 year, +23.17% per year over 3 years, +19.30% per year over 5 years and +29.88% 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 17.5% and its worst peak-to-trough fall in our sample was -24.3%. 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 0.95 mean?
The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Bandhan Small Cap Fund's 0.95 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.