MonitorDirect · GrowthWatch before adding
Axis Small Cap Fund
Axis Mutual FundEquity Schemes - Small Cap Fund12.9 years
The scheme seeks to generate long-term capital appreciation from a diversified portfolio of predominantly equity & equity related instruments of small cap companies.
- NAV
- 126.97
- 30 Oct 2026
- 1Y
- +1.0%
- Trailing CAGR
- Upside capture
- +81%
- Vs NIFTY SMALLCAP 250 TRI
- Downside capture
- +56%
- Lower is better
Buying brief
Should you add this fund?
Evidence on this desk, framed as a purchase checklist - not SEBI-registered advice.
As of 30 Oct 2026
Stance
Watch before adding
Recent evidence is mixed. Compare peers before increasing exposure.
In three lines
Fits if · The fund beat the category median in 71% of rolling 3-year windows.
Fits if · Three-year return is above the category median.
Prefer peers if · Prefer Mahindra Manulife Small Cap Fund if you want a same-category peer with stronger evidence.
Buy checklist
History depth
Pass
12.9 years of path to read.
Engine status
Watch
Recent evidence is mixed. Compare peers before increasing exposure.
Expense ratio
Pass
0.70% TER (Direct). Lower cost compounds on long SIPs.
Drawdown vs peers
Pass
Peak-to-trough -34.6%. Ask whether you can hold through a similar fall.
Vs category
Pass
71% of rolling 3Y windows beat the category median, same plan and option.
Manager tenure
Pass
Tejas Sheth · 2.5 years on the scheme.
Exit load
n/a
No exit-load summary on file.
Tax / wrapper
Pass
Direct Growth, no ELSS lock flagged. Equity LTCG rules still apply after one year - not tax advice.
Portfolio concentration
Pass
Top 10 holdings ≈ 25.9% of the portfolio.
Browse category
Same-category peers are preloaded into compare when available.
Before you buy or SIP
Behaviour and wrappers - the usual India MF failure modes - not a buy instruction.
Drawdown rehearsal
This scheme’s worst fall on file is about 35%. Before you SIP, ask whether you would keep contributing through a similar drop - pausing on fear is the usual India MF failure mode.
SIP discipline
Monitor is recent mixed evidence - keep the SIP unless the buying brief says prefer peers, then swap with intent.
NAV
Path not in current snapshots
n/a
Returns
Trailing CAGR and simulated monthly SIP XIRR from daily NAV. Category comparison uses the median of comparable share classes in the peer set.
Trailing CAGR
Point-to-point, calendar-day annualized
- 1Y+1.0%
- 3Y+13.2%
- 5Y+14.4%
- 10Y+18.2%
- SI+21.8%
SIP XIRR
Equal monthly instalments to latest NAV
- 1Y+4.3%
- 3Y+6.8%
- 5Y+13.0%
- 10Y+19.1%
- Since inception
- +21.8%
- Calendar-day CAGR
- Excess 1Y
- -0.3%
- Category median, same plan and option
- 3Y win rate
- +71%
- Windows beating the median
- 3Y percentile
- 60
- Vs comparable share classes
- SIP 3Y XIRR
- +6.8%
- Simulated monthly SIP
- Worst rolling 3Y
- -0.0%
- 2451 daily-ending windows
- Median rolling 3Y
- +19.5%
- Calendar-day CAGR
- Positive rolling 5Y
- +100%
- 1957 daily-ending windows
Official benchmark
Date-aligned against NIFTY SMALLCAP 250 TRI. Capture ratios use common month-end observations through 30 Oct 2026.
- 1Y excess
- +4.2%
- Fund minus TRI
- 3Y excess
- +0.9%
- Fund minus TRI
- Upside capture
- +81%
- Benchmark-up months
- Downside capture
- +56%
- Lower is better
Drawdown
Peak to trough from a running NAV high, with the path and recovery episodes.
- Max drawdown
- -34.6%
- Worst peak-to-trough
- Current
- -8.3%
- Below last peak
- Current spell
- 52 days
- Days below latest peak
- Time below peak
- +84%
- NAV observations
Drawdown
Path not in current snapshots
n/a
- Average recovery
- 12 days
- 166 recovered episodes
- Longest recovery
- 234 days
- Trough to prior peak
11 Feb 2020 – 13 Nov 2020
Trough 24 Mar 2020 · recovered in 234 days
-34.6%
23 Sept 2024 – 17 Jul 2025
Trough 3 Mar 2025 · recovered in 136 days
-19.4%
8 Jan 2018 – 31 May 2019
Trough 23 Oct 2018 · recovered in 220 days
-17.0%
17 Jan 2022 – 7 Sept 2022
Trough 20 Jun 2022 · recovered in 79 days
-15.9%
Dimensions
0–100 reads of named metrics. The mean is unweighted and only uses dimensions with data.
Returns
60
Vs category
48
Consistency
64
Risk-adjusted
77
Drawdown
13
Mean
53
Decision
Quantitative engine reasons behind the buying stance. An explanation can only restate what is already here.
Monitor
Buying stance
Watch before adding
Recent evidence is mixed. Compare peers before increasing exposure.
Why this status
No status reasons yet. History is still thin.
Supporting reads
- The fund beat the category median in 71% of rolling 3-year windows.
- Three-year return is above the category median.
- Risk-adjusted return sits above the documented risk-free proxy.
Portfolio
30 Sept 2026 · 130 holdings · top 10 are 25.9%.
- Top 5
- 17.6%
- Top 10
- 25.9%
- Largest holding
- 8.7%
- Effective holdings
- 59.4
Others CBLO
Unspecified
8.7%
Krishna Institute Of Medical Sciences Ltd
Healthcare
2.5%
Torrent Pharmaceuticals Ltd
Healthcare
2.3%
CCL Products (India) Ltd
Consumer Staples
2.2%
City Union Bank Ltd
Financial
1.9%
What changed
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
27 Oct 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
26 Oct 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
23 Oct 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
22 Oct 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
21 Oct 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
19 Oct 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
16 Oct 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
24 Sept 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
23 Sept 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
22 Sept 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
21 Sept 2026
PERFORMANCE
Recent rolling excess versus the category median has deteriorated.
18 Sept 2026
Worth investigating
Same-category peers with enough history to inspect beside this fund - including tradeoffs.
Mahindra Manulife Small Cap Fund
Mahindra Manulife Mutual Fund
- 1Y
- +6.3%
- 3Y
- +18.0%
- Vol
- 17.1%
- Max DD
- -26.0%
- Sharpe
- 0.98
- 3Y win
- +100%
- Shallower drawdown
- Higher win rate vs category
- Higher trailing returns
Caveat: Higher volatility · Higher TER
Mirae Asset Small Cap Fund
Mirae Asset Mutual Fund
- 1Y
- -0.3%
- 3Y
- n/a
- Vol
- 15.6%
- Max DD
- -15.1%
- Sharpe
- 0.34
- 3Y win
- n/a
- Shallower drawdown
- Higher win rate vs category
- Lower TER
Caveat: Higher volatility · Lower trailing returns
Invesco India Small Cap Fund
Invesco Mutual Fund
- 1Y
- +6.2%
- 3Y
- +20.3%
- Vol
- 18.1%
- Max DD
- -37.7%
- Sharpe
- 0.91
- 3Y win
- +59%
- Lower TER
- Higher trailing returns
Caveat: Higher volatility · Deeper drawdown
HSBC Small Cap Fund
HSBC Mutual Fund
- 1Y
- +2.3%
- 3Y
- +11.7%
- Vol
- 17.3%
- Max DD
- -27.2%
- Sharpe
- 0.63
- 3Y win
- n/a
- Shallower drawdown
Caveat: Higher volatility · Lower trailing returns
JM Small Cap Fund
JM Financial Mutual Fund
- 1Y
- +4.6%
- 3Y
- n/a
- Vol
- 20.8%
- Max DD
- -24.4%
- Sharpe
- 0.03
- 3Y win
- n/a
- Shallower drawdown
Caveat: Higher volatility · Higher TER · Lower trailing returns