# Small Cap Index mutual funds compared

Source page: https://www.rudowealth.com/mutual-funds/category/small-cap-index-funds

Small cap index funds hold the shares of a small cap index, such as the NIFTY Smallcap 250, in the same proportions, so their returns follow the index less costs. (SEBI categorisation of mutual fund schemes, 6 October 2017, as amended.)

All 15 small cap index funds, Direct plan, Growth option, NAV as of 2026-10-07. Every figure is worked out from each fund's own NAV.

Category averages: 3-year return +14.9% a year, 5-year return +13.0% a year (both annualised), volatility over 3 years 22.0%, expense ratio 0.42%.

| Rank | Fund | 1Y | 3Y (annualised) | 5Y (annualised) | Volatility 3Y | Worst fall 5Y | Expense ratio | Fund size |
|---|---|---|---|---|---|---|---|---|
| 1 | [Motilal Oswal NIFTY Smallcap 250 Index Fund- Direct Plan](https://www.rudowealth.com/mutual-funds/motilal-oswal-nifty-smallcap-250-index-fund-direct-plan) | +5.2% | +13.5% | +13.5% | 21.6% | -26.8% | 0.40% | ₹1,299 Cr |
| 2 | [Nippon India NIFTY Smallcap 250 Index Fund - Direct Plan - Growth Option](https://www.rudowealth.com/mutual-funds/nippon-india-nifty-smallcap-250-index-fund-direct-plan-growth-option) | +5.2% | +13.1% | +13.2% | 21.5% | -26.9% | 0.42% | ₹3,518 Cr |
| 3 | [Aditya Birla Sun Life NIFTY Smallcap 50 Index Fund-Direct Growth](https://www.rudowealth.com/mutual-funds/aditya-birla-sun-life-nifty-smallcap-50-index-fund-direct-growth) | +13.0% | +17.8% | +12.2% | 22.4% | -36.7% | 0.58% | ₹367 Cr |
| 4 | [Kotak NIFTY Smallcap 50 Index Fund - Direct Plan - Growth](https://www.rudowealth.com/mutual-funds/kotak-nifty-smallcap-50-index-fund-direct-plan-growth) | +12.6% | +17.7% | N/A | 22.4% | N/A | 0.35% | ₹250 Cr |
| 5 | [Axis NIFTY Smallcap 50 Index Fund - Direct Plan - Growth Option](https://www.rudowealth.com/mutual-funds/axis-nifty-smallcap-50-index-fund-direct-plan-growth-option) | +13.1% | +17.7% | N/A | 22.2% | N/A | 0.34% | ₹783 Cr |
| 6 | [Motilal Oswal NIFTY Microcap 250 Index Fund- Direct- Growth Option](https://www.rudowealth.com/mutual-funds/motilal-oswal-nifty-microcap-250-index-fund-direct-growth-option) | +11.1% | +16.1% | N/A | 24.1% | N/A | 0.58% | ₹2,494 Cr |
| 7 | [Edelweiss NIFTY Smallcap 250 Index Fund - Direct Plan - Growth](https://www.rudowealth.com/mutual-funds/edelweiss-nifty-smallcap-250-index-fund-direct-plan-growth) | +5.5% | +13.6% | N/A | 21.5% | N/A | 0.26% | ₹285 Cr |
| 8 | [SBI NIFTY Smallcap 250 Index Fund - Direct Plan - Growth](https://www.rudowealth.com/mutual-funds/sbi-nifty-smallcap-250-index-fund-direct-plan-growth) | +5.0% | +13.2% | N/A | 21.6% | N/A | 0.45% | ₹1,788 Cr |
| 9 | [HDFC NIFTY Smallcap 250 Index Fund - Growth Option - Direct Plan](https://www.rudowealth.com/mutual-funds/hdfc-nifty-smallcap-250-index-fund-growth-option-direct-plan) | +5.0% | +13.2% | N/A | 21.6% | N/A | 0.34% | ₹775 Cr |
| 10 | [ICICI Prudential NIFTY Smallcap 250 Index Fund - Direct Plan - Growth](https://www.rudowealth.com/mutual-funds/icici-prudential-nifty-smallcap-250-index-fund-direct-plan-growth) | +5.0% | +13.2% | N/A | 21.6% | N/A | 0.39% | ₹789 Cr |
| 11 | [Groww NIFTY Smallcap 250 Index Fund - Direct Plan - Growth](https://www.rudowealth.com/mutual-funds/groww-nifty-smallcap-250-index-fund-direct-plan-growth) | +5.4% | N/A | N/A | N/A | N/A | 0.59% | ₹139 Cr |
| 12 | [JioBlackRock NIFTY Smallcap 250 Index Fund - Direct Plan - Growth Option](https://www.rudowealth.com/mutual-funds/jioblackrock-nifty-smallcap-250-index-fund-direct-plan-growth-option) | +5.2% | N/A | N/A | N/A | N/A | 0.35% | ₹404 Cr |
| 13 | [Bandhan NIFTY Smallcap 250 Index Fund - Direct Plan - Growth](https://www.rudowealth.com/mutual-funds/bandhan-nifty-smallcap-250-index-fund-direct-plan-growth) | +5.1% | N/A | N/A | 21.6% | N/A | 0.29% | ₹99 Cr |
| 14 | [Kotak NIFTY SmallCap 250 Index Fund- Direct - Growth](https://www.rudowealth.com/mutual-funds/kotak-nifty-smallcap-250-index-fund-direct-growth) | +5.1% | N/A | N/A | N/A | N/A | 0.34% | ₹85 Cr |
| 15 | [DSP NIFTY Smallcap 250 Index Fund - Direct - Growth](https://www.rudowealth.com/mutual-funds/dsp-nifty-smallcap-250-index-fund-direct-growth) | N/A | N/A | N/A | N/A | N/A | 0.57% | ₹18 Cr |

Ordered by 5-year annualised return, highest first; funds younger than 5 years follow by 3-year, then 1-year return. Volatility is the annualised standard deviation of monthly returns. Worst fall is the largest drop from a peak in the last 5 years. We do not label any fund as the best.

Investing from the UAE: NRIs can generally invest once KYC is complete, paying from an NRE or NRO bank account. Some fund houses do not accept residents of the United States or Canada. The UAE does not levy personal income tax, and the India UAE tax treaty may affect how gains are treated, so confirm your own position with a tax adviser.

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RuDo Wealth is a fee-only cross-border advisory operating through two separate companies. India: RuDo Wealth Investment Advisory, SEBI Registered Investment Adviser, registration INA000019503. UAE: RuDo Digital Wealth, FSRA Financial Services Permission 220155, Category 3C (Retail), ADGM. The entity permitted to serve you depends on your country of residence.

General information, not a recommendation to buy or sell any fund. Past performance does not indicate future returns.