EquitySmall Cap FundDirectIDCWVery High

Motilal Oswal Small Cap Fund

Q: What is the NAV of Motilal Oswal Small Cap Fund?

As of 05 Oct 2026, the NAV of Motilal Oswal Small Cap Fund is ₹17.20 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has Motilal Oswal Small Cap Fund delivered?

Motilal Oswal Small Cap Fund has returned +19.68% over 1 year and +21.27% 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 Motilal Oswal Small Cap Fund?

Motilal Oswal Small Cap Fund charges an expense ratio of 0.85% 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 Motilal Oswal Small Cap Fund?

Motilal Oswal Small Cap Fund's largest holdings are Rubicon Research Limited (4.5%), VA Tech Wabag Limited (4.0%), CCL Products (India) Limited (3.4%), Karur Vysya Bank Limited (3.3%) and Aditya Infotech Limited (3.2%). Holdings are disclosed monthly and change over time.

Q: How risky is Motilal Oswal Small Cap Fund?

Motilal Oswal Small Cap Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 17.3% and its worst peak-to-trough fall in our sample was -23.7%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Q: What is the benchmark of Motilal Oswal Small Cap Fund?

Motilal Oswal Small Cap Fund is benchmarked against the Nifty Smallcap 250 TRI. Its alpha and beta on this page are measured against that index.

Q: Who manages Motilal Oswal Small Cap Fund?

Motilal Oswal Small Cap Fund is managed by Rakesh Shetty, Ajay Khandelwal, Sunil Sawant and Bhalchandra Shinde at Motilal Oswal.

Q: How is Motilal Oswal Small Cap Fund taxed?

Motilal Oswal 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.

Motilal Oswal Mutual Fund · Best Small Cap Mutual Funds

NAV

₹17.20

+0.22% 1D

as of 05 Oct 2026

This is the Direct plan of Motilal Oswal Small Cap Fund — bought from the fund house, with no distributor commission in its expense ratio. Income is distributed and reinvested in more units, which is why this NAV sits below the growth plan of the same fund.

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Performance

+19.92%absolute

52-week rangePrev NAV ₹17.16

Latest ₹17.20

Low ₹12.5287th percentile of its 52-week rangeHigh ₹17.89

Key Metrics

Annual fee charged by the fund, already deducted from NAV

0.85%

Category —

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

35.62

Category —

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

—

Category —

Scheme Info

Definitions

Plan

Direct · IDCW

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

None

Exit Load

None

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

0.005%

SIP Inv.

—

Smallest recurring SIP instalment the scheme accepts

₹500

Smallest one-time (lumpsum) investment the scheme accepts

₹500

Nifty Smallcap 250 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.

29 Dec 2023

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

Definitions

Absolute return over the last 1 month (not annualized)

-2.88%

Absolute return over the last 3 months (not annualized)

+2.84%

Absolute return over the last 6 months (not annualized)

+33.12%

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

+20.03%

Annualized returns (≥1Y — CAGR)

Definitions

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

+19.68%

3-year annualized return (CAGR)

—

5-year annualized return (CAGR)

—

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.

+21.27%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

17.32%

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

—

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

—

Largest peak-to-trough decline over full history

-23.69%

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

10.74%

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

0.90

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

90.2%

Excess return per unit of beta (market risk)

17.03

Active return over the benchmark per unit of tracking error

1.73

Annualized std dev of fund-minus-benchmark returns

6.89%

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

110.4%

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

70.9%

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	-2.88%	—	—
3M abs	+2.84%	—	—
6M abs	+33.12%	—	—
1Y CAGR	+19.68%	—	—
3Y CAGR	—	—	—
5Y CAGR	—	—	—

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

₹1.20L

Current value

₹1.36L

Absolute

+13.61%

XIRR

+31.14%

Value vs. invested

ValueInvested

12 monthly installments of ₹10,000 into Motilal Oswal 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	+20.03%	+7.86%	+12.17%
2025	-4.09%	-5.29%	+1.20%
2024	+48.16%	+27.52%	+20.64%

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

681

Expense ratio

0.85%

AUM

₹7,883Cr

Portfolio turnover

63%

Exit load

Nil

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

P/E ratio

35.6

P/B ratio

6.8

Avg market cap

₹27,857Cr

P/E & P/B are portfolio-weighted harmonic means across 41 of 61 equity holdings (66% 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


Motilal Oswal Small Cap FundThis fund Motilal Oswal · Direct · IDCW	—	+19.68%	—	—	—	0.85%	₹7,883Cr
Bank of India Small Cap Fund Bank of India · Direct · IDCW	—	+29.49%	+21.92%	+19.92%	—	0.78%	₹3,105Cr
ITI Small Cap Fund ITI · Direct · IDCW	—	+16.46%	+21.06%	+16.60%	—	0.84%	₹3,533Cr
LIC MF Small Cap Fund LIC · Direct · IDCW	—	+13.82%	+17.65%	—	—	1.28%	₹796.80Cr
Mahindra Manulife Small Cap Fund Mahindra Manulife · Direct · IDCW	—	+9.95%	+17.58%	—	—	0.92%	₹5,252Cr
Quant Small Cap Fund quant · Direct · IDCW	—	+12.59%	+17.25%	+18.03%	—	0.90%	₹35,054Cr

Market-cap allocation · AMFI bands, Jul 2026

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

Large cap3.1%
Mid cap11.5%
Small cap85.4%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity92.56%
Cash & Equivalents7.44%

which companies this fund invests in

As on 31 Aug 2026 · AMC disclosure

Rubicon Research Limited

4.52%

VA Tech Wabag Limited

3.98%

CCL Products (India) Limited

3.37%

Karur Vysya Bank Limited

3.29%

Aditya Infotech Limited

3.19%

Dr Agarwals Health Care Limited

3.04%

Sky Gold And Diamonds Limited

2.62%

Rainbow Childrens Medicare Limited

2.40%

Vijaya Diagnostic Centre Limited

2.30%

V-Mart Retail Limited

2.29%

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

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
TRUSTMF Small Cap Fund Trust · Small Cap Fund	21.6%	★★★★★	1.50%	—
Motilal Oswal Focused Fund Motilal Oswal · Focused Fund	20.6%	★☆☆☆☆	1.60%	+14.61%
Union Small Cap Fund Union · Small Cap Fund	19.1%	★☆☆☆☆	1.08%	+16.35%
Motilal Oswal Consumption Fund Motilal Oswal · Sectoral/ Thematic	19.1%	—	0.84%	—
Aditya Birla Sun Life Small Cap Fund Aditya Birla Sun Life · Small Cap Fund	19.0%	★☆☆☆☆	1.07%	+14.70%
Axis Small Cap Fund Axis · Small Cap Fund	17.9%	★★★★☆	0.72%	+14.52%
Invesco India Small Cap Fund Invesco · Small Cap Fund	17.6%	★★★★★	0.64%	+21.48%
ITI Small Cap Fund ITI · Small Cap Fund	16.7%	★★★★☆	0.84%	+23.23%

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)

3 holdings — 6.36% 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.

Rubicon Research LimitedLong-term · Stage I4.52%
Mtar Technologies LimitedLong-term · Stage IV1.44%
Milky Mist Dairy Food LimitedLong-term · Stage IV0.40%

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.

-23.7%17 Dec 2024 → 03 Mar 2025
Fell over 2 months, back to the old high on 07 May 2026 — 14 months under water after the low.
-9.2%27 Feb 2024 → 13 Mar 2024
Fell over 15 days, back to the old high on 01 Apr 2024 — 19 days under water after the low.
-7.8%15 Oct 2024 → 13 Nov 2024
Fell over 29 days, back to the old high on 29 Nov 2024 — 16 days 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

₹7,883Cr

July - September 2026

+42%

since January - March 2026

+₹496.11Cr

est. net flow, last quarter

At or near its largest, ₹7,883Cr in July - September 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

Motilal Oswal Mutual Fund is the asset management arm of the broker Motilal Oswal Financial Services and launched its first scheme in 2010. It is known for a concentrated 'buy right, sit tight' equity philosophy and for a large passive and international range.

Launched

28 Dec 2009

Total AUM

₹1,58,858Cr+11.5% QoQ

Avg AUM · July - September 2026

Website

motilaloswalmf.com

Fund Managers

RSRakesh ShettyManaging since 26 Dec 2023

Education

Bachelors of Commerce (B.Com)

Experience

• Mr. Rakesh Shetty has more than 15 years of overall experience and expertise in trading in equity, debt segment, Exchange Trade Fund’s management, Corporate Treasury and Banking. • Prior to joining Motilal Oswal Asset Management Company Limited, he has worked with Company engaged in Capital Market Business wherein he was in charge of equity and debt ETFs, customized indices and has also been part of product development.

Funds managed (80)

All schemes Rakesh Shetty runs →

AKAjay KhandelwalManaging since 26 Dec 2023

Education

1. CFA Level 3 2. PGDM – MBA - TAPMI, Manipal 3. B.E. Electrical Engineer MITS, Gwalior

Experience

• Mr Ajay Khandelwal has around 19 years of experience in fund management and research activity. Earlier he was associated with Canara Robeco Asset Management Company as Fund Manager, where he used to take active part in fund management activity of Small Cap Fund. • He started his professional journey as a Research Analyst in BOI AXA Investment Managers, where he used to research on Information Technology (IT) and Banking, Financial Services and Insurance (BFSI) industry, understanding the sector and company specification through data analysis.

Funds managed (17)

All schemes Ajay Khandelwal runs →

SSSunil SawantStart date not disclosed

Education

Master of Commerce (M. Com)

Funds managed (11)

All schemes Sunil Sawant runs →

BSBhalchandra ShindeStart date not disclosed

Education

M.M.S Finance & B.E. Mech

Experience

• Mr. Bhalchandra Shinde boasts over 13 years of extensive experience in Equity Research. • Mr. Shinde's professional journey has been marked by his expertise and significant contributions to the field. Prior to his current role at MOAMC, he dedicated three years to Kotak Mahindra Life Insurance as an Investment Analyst, overseeing research across sectors such as Auto, Oil and Gas, and Real Estate. He has also been associated with Max Life Insurance and Centrum Broking

Funds managed (8)

All schemes Bhalchandra Shinde 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

Rakesh Shetty Ajay Khandelwal Sunil Sawant Bhalchandra Shinde

Top holdings

Rubicon Research Limited VA Tech Wabag Limited CCL Products (India) Limited Karur Vysya Bank Limited Aditya Infotech Limited Dr Agarwals Health Care Limited Sky Gold And Diamonds Limited Rainbow Childrens Medicare Limited Vijaya Diagnostic Centre Limited V-Mart Retail Limited Pricol Limited Campus Activewear Limited

Motilal Oswal 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 Motilal Oswal Small Cap Fund?

As of 05 Oct 2026, the NAV of Motilal Oswal Small Cap Fund is ₹17.20 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has Motilal Oswal Small Cap Fund delivered?

Motilal Oswal Small Cap Fund has returned +19.68% over 1 year and +21.27% 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 Motilal Oswal Small Cap Fund?

Motilal Oswal Small Cap Fund charges an expense ratio of 0.85% 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 Motilal Oswal Small Cap Fund?

Motilal Oswal Small Cap Fund's largest holdings are Rubicon Research Limited (4.5%), VA Tech Wabag Limited (4.0%), CCL Products (India) Limited (3.4%), Karur Vysya Bank Limited (3.3%) and Aditya Infotech Limited (3.2%). Holdings are disclosed monthly and change over time.

How risky is Motilal Oswal Small Cap Fund?

Motilal Oswal Small Cap Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 17.3% and its worst peak-to-trough fall in our sample was -23.7%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What is the benchmark of Motilal Oswal Small Cap Fund?

Motilal Oswal 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 Motilal Oswal Small Cap Fund?

Motilal Oswal Small Cap Fund is managed by Rakesh Shetty, Ajay Khandelwal, Sunil Sawant and Bhalchandra Shinde at Motilal Oswal.

How is Motilal Oswal Small Cap Fund taxed?

Motilal Oswal 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.