Axis Small Cap Fund - Direct Plan - Growth
Fund Objective & Strategy
An open-ended equity scheme designed to achieve long-term capital appreciation by building a diversified portfolio predominantly invested in equity and equity-related instruments of small-cap companies (defined by SEBI as the 251st company onwards by full market capitalization).
Key Information
- Fund Managers: Tejas Sheth, Mayank Hyanki & Krishnaa N (Overseas)
- Category: Small Cap Fund
- Benchmark: NIFTY Smallcap 250 TRI
- Recommended Horizon: 5+ years
- Minimum SIP: ₹100
- Riskometer: 🚩 Very High
Also Read: Axis Strategic Bond Fund Direct Growth – Returns, NAV & SIP
Performance Snapshot (CAGR)
Latest NAV (16 Jun 2025)
₹122.59
1-Year Return
~22.5%
3-Year CAGR
~20.1%
5-Year CAGR
~33.5%
Portfolio Allocation & Risk
Asset Allocation by Market Cap
Key Risk Parameters
| Metric | Fund | Benchmark |
|---|---|---|
| Standard Deviation (p.a.) | 20.4% | 14.6% |
| Beta (vs. Benchmark) | 0.69 | 1.00 |
| Tracking Error | 7.4% | - |
Systematic Investment Plan (SIP) Performance
Analysis of a ₹10,000 Monthly SIP
| Period | Amount Invested | Market Value | Fund Return (Ann.) | Benchmark Return (Ann.) |
|---|---|---|---|---|
| Since Inception | ₹1,380,000 | ₹4,623,608 | 19.63% | 17.20% |
| 5-Year SIP | ₹600,000 | ₹996,978 | 20.45% | 23.19% |
| 3-Year SIP | ₹360,000 | ₹448,584 | 14.85% | 17.99% |
| 1-Year SIP | ₹120,000 | ₹114,706 | –8.16% | –13.91% |
The Small-Cap Landscape: Risk & Reward
Annual Returns by Market Cap (2013-2024)
Small caps exhibit a "boom and bust" cycle, often delivering the highest returns in bull markets but also the steepest losses during downturns. This highlights the high-risk, high-reward nature of the category.
| Year | Large Cap (%) | Mid Cap (%) | Small Cap (%) |
|---|---|---|---|
| 2017 | 32.9 | 55.7 | 58.5 |
| 2018 | 2.6 | -12.6 | -26.2 |
| 2021 | 26.5 | 48.2 | 63.3 |
| 2023 | 21.2 | 44.6 | 49.1 |
The Journey of a Small-Cap Company
The "mortality rate" in small caps is significant. An analysis of the small-cap universe from 7 years ago reveals that only a fraction graduate to mid or large-cap status, while many remain small or get delisted. This underscores the need for expert stock picking to identify future winners.
- Out of 250 small-cap companies, only 32 (12.8%) became mid or large caps.
- 195 (78%) remained in the small-cap category.
- 23 (9.2%) were acquired or delisted.
Equity Holdings Dashboard
Top 10 Equity Holdings
Percentage of Net Asset Value (NAV) distribution across top holdings.
| Company | % of NAV |
|---|---|
| JB Chemicals & Pharmaceuticals Ltd | 3.03% |
| HDFC Bank Ltd | 3.02% |
| Multi Commodity Exchange of India | 2.80% |
| CCL Products (India) | 2.72% |
| Narayana Hrudayalaya | 2.25% |
| Kaynes Technology India | 1.91% |
| Brigade Enterprises | 1.76% |
| Blue Star Ltd | 1.72% |
| Cholamandalam Financial Holdings | 1.68% |
| Krishna Institute Of Medical Sciences | 1.67% |
Sector Allocation
Distribution of investments across different sectors (as percentage of equity NAV).
| Sector | % of NAV |
|---|---|
| Financial Services | 20.1% |
| Capital Goods | 11.7% |
| Healthcare | 11.3% |
| Chemicals | 7.4% |
| Fast-Moving Consumer Goods | 6.2% |
| Automobiles | 5.8% |
| Consumer Services | 5.5% |
| Information Technology | 5.2% |
| Oil & Gas | 4.9% |
| Construction | 4.7% |
Peer Comparison
Performance metrics compared to similar funds in the category.
Understanding Fund Metrics
NAV CAGR: Compounded Annual Growth Rate shows the mean annual growth rate over a specified time period.
AUM: Assets Under Management indicates the total market value of assets managed.
Expense Ratio: Percentage of fund assets used for administrative and other operating expenses.
| Fund | 3 Yr NAV CAGR | AUM (₹ Cr) | Expense Ratio (%) | SEBI Risk Level | VR Rating |
|---|---|---|---|---|---|
| Axis Small Cap Fund – Direct Plan | 25.40% | 25,062 | 0.55% | Very High | 3-star |
| SBI Small Cap Fund – Direct Plan | 21.44% | 34,028 | 0.70% | Very High | 3-star |
| Nippon India Small Cap Fund – Direct Plan | 30.76% | 63,007 | 0.65% | Very High | 4-star |
| HDFC Small Cap Fund – Direct Plan | 29.61% | 34,032 | 0.73% | Very High | 3-star |
| Kotak Small Cap Fund – Direct Plan | 22.63% | 17,329 | 0.55% | Very High | 2-star |
SIP Calculator
Estimate potential returns from your Systematic Investment Plan (SIP) investments.
Projected Investment Value
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Additional Resources
Key Terms
- Net Asset Value (NAV): The per-unit market value of all securities held by the fund.
- Systematic Investment Plan (SIP): An investment vehicle that allows investors to invest small amounts regularly.
- CAGR: The mean annual growth rate of an investment over a specified time period.
Regulatory Information
All funds are regulated by SEBI (Securities and Exchange Board of India).
Mutual fund investments are subject to market risks. Please read all scheme related documents carefully.
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