Mahindra Manulife Small Cap Fund
Mahindra Manulife Mutual Fund · Small Cap · Regular plan, growth option
NAV (₹), 1 Oct 2026
21.8183
1-day change
-1.36%
1Y return
14.0%
3Y CAGR
17.5%
5Y CAGR
n/a
Max drawdown, 5Y
n/a
NAV history month-end NAV, ₹ · 14 Dec 2022 to 1 Oct 2026
Returns vs Small Cap median (36 schemes)
| Period | Scheme | Category median |
|---|---|---|
| 1 month | -4.2% | -3.6% |
| 3 months | 2.8% | 1.2% |
| 6 months | 23.8% | 23.5% |
| Year to date | 12.4% | 11.2% |
| 1 year | 14.0% | 11.3% |
| 3 years (CAGR) | 17.5% | 13.5% |
| 5 years (CAGR) | n/a | 14.2% |
| 7 years (CAGR) | n/a | 21.7% |
| 10 years (CAGR) | n/a | 16.0% |
| Since first NAV (CAGR) | 22.7% | – |
Rolling returns every business-day start date
| Measure | Scheme | Category median |
|---|---|---|
| 1Y rolling median | 11.9% | 12.5% |
| 3Y rolling median | 22.1% | 19.2% |
| 3Y rolling worst | 17.5% | 2.4% |
| 3Y periods positive | 100% | 100% |
| 3Y periods ahead of benchmark | 100% | 49% |
| 5Y rolling median | n/a | 19.7% |
| 5Y rolling worst | n/a | 3.6% |
| 5Y periods ahead of benchmark | n/a | 60% |
Benchmark: Nifty Smallcap 250 (proxy: Motilal Oswal Nifty Smallcap 250 Index Fund, price return).
Risk 36 months, monthly returns, Rf 6.5%
| Measure | Scheme | Category median |
|---|---|---|
| Standard deviation (ann.) | 19.9% | 19.9% |
| Sharpe ratio | 0.55 | 0.41 |
| Sortino ratio | 0.90 | 0.65 |
| Beta | 0.88 | 0.86 |
| Alpha (ann.) | 4.6% | 1.6% |
| Upside capture | 100.23 | 86.18 |
| Downside capture | 88.58 | 84.62 |
Drawdowns peak-to-trough falls in NAV
| Measure | Scheme | Category median |
|---|---|---|
| Maximum drawdown, full history | −26.4% | −29.9% |
| Maximum drawdown, last 10Y | n/a | −48.2% |
| Maximum drawdown, last 5Y | n/a | −24.4% |
| Current drawdown | −5.7% | −4.4% |
| Recovery time of worst fall | 497 days | – |
Longer histories include more crises, so compare the 5Y and 10Y figures across schemes of different ages.
Market context from Integrato Market Intelligence
This scheme invests mainly in the market below, which is also close to how many of them are benchmarked. Where that market stands today:
17,589.05 −1.18%
NSE close, 1 Oct 2026
- P/E 34.1: higher than 90% of days since 2023 (median 30.2)
- 1Y +3.6% · 3Y +12.2% p.a. · 5Y +12.8% p.a. (index fund NAV, after costs)
- −5.1% from its 52-week high
Index levels and P/E: NSE daily index closing values; gold and silver: IBJA rates; returns: growth NAV of an index fund or ETF tracking the market (AMFI), so they are after that fund's costs. Context only: a market's level or valuation does not tell you how any scheme will perform. Explore all markets.
Direct or Regular for this scheme?
The Regular plan's expense ratio is 2.21% a year and the Direct plan's 0.92%, a gap of 1.29%; over the last 3 years the Direct plan returned 1.74 percentage points a year more. On a ₹25,000 monthly SIP for 20 years (illustration at 12% a year before costs) the gap adds up to about ₹29,31,434.
With the Regular plan, that cost pays a distributor to help you plan, choose and review funds, and stay invested when markets fall. Whether it is worth it depends on how much of that you will do yourself.
TER: AMFI TER disclosure. Returns: AMFI NAVs. Illustration, not a guaranteed saving or return.
Recent disclosure changes last 120 days, as disclosed via AMFI
- 28 Sep 2026: TER increased from 2.20% to 2.21% (AMFI TER disclosure)
- 24 Sep 2026: TER increased from 2.19% to 2.20% (AMFI TER disclosure)
- 23 Sep 2026: TER reduced from 2.20% to 2.19% (AMFI TER disclosure)
- 17 Sep 2026: TER reduced from 2.21% to 2.20% (AMFI TER disclosure)
- 15 Sep 2026: TER increased from 2.19% to 2.21% (AMFI TER disclosure)
- 12 Sep 2026: TER reduced from 2.20% to 2.19% (AMFI TER disclosure)
- 11 Sep 2026: TER increased from 2.19% to 2.20% (AMFI TER disclosure)
- 10 Sep 2026: TER reduced from 2.20% to 2.19% (AMFI TER disclosure)
- 9 Sep 2026: TER increased from 2.19% to 2.20% (AMFI TER disclosure)
- 8 Sep 2026: TER reduced from 2.20% to 2.19% (AMFI TER disclosure)
Fund managers and scheme facts Scheme Summary Document via AMFI
| Fund manager | Role | Managing since |
|---|---|---|
| Krishna Sanghavi | Primary | 24 Oct 2024 |
| Manish Lodha | Comanage | 12 Dec 2022 |
Objective: The investment objective of the Scheme is to generate long term capital appreciation by investing in a diversified portfolio of equity & equity related securities of small cap companies, However, there can be no assurance that the investment objective of the Scheme will be achieved.
Stated asset allocation: Equity & Equity related instruments ^: 65% - 100%, Equity & Equity related instruments of other than Small Cap Companies: 0% - 35%, Money Market Instruments / other liquid instruments@ -)% - 35%,Units of mutual funds$ (Including Gold & Silver ETFs): 0% - 20% Units issued by REITs & InvITs - 0% - 10%. The Scheme may take exposure in equity derivative instruments to the extent of 50% of the Equity component. Investment in derivatives shall be for hedging, portfolio balancing and such other purposes as may be permitted from time to time under the Regulations and subject to guidelines issued by SEBI/RBI from time to time. # Definition of Small Cap Companies: 251st entities onwar…
Benchmark (tier 1): BSE 250 Small Cap TRI
Exit load: Exit Load: 1%**An Exit Load of 1% is payable if Units are redeemed / switched-out upto 3 months from the date of allotment; Nil if Units are redeemed / switched-out after 3 months from the date of allotment.
Minimum application: ₹1,000
Allotment date: 12 Dec 2022
Documents: Scheme Information Document · Scheme Summary Document. Read the scheme documents before investing.
Cost, size and riskometer as disclosed to AMFI
| Measure | Scheme | Category median |
|---|---|---|
| Expense ratio (TER), Regular plan | 2.21% | 2.06% |
| AUM, whole scheme (₹ crore) | 5,373 | 5,596 |
| Riskometer | Very High | – |
TER: AMFI, TER of MF Schemes. AUM and riskometer: AMFI, Fund Performance, 30 Sep 2026.
Official benchmark and category consistency
| Measure | Scheme | Benchmark / category |
|---|---|---|
| Return, 1 year (AMFI) | 16.5% | 5.2% TRI |
| Return, 3 years (AMFI) | 18.0% | 12.3% TRI |
Official benchmark: BSE 250 Smallcap TRI (total return index, as published by AMFI). Category consistency: last 10 years of month-ends, Small Cap Regular plans; how it is calculated.
Calendar-year returns NAV change from 31 Dec to 31 Dec
| Year | Scheme | Nifty Smallcap 250 proxy | Difference |
|---|---|---|---|
| 2026 YTD | 12.4% | 5.5% | +6.8% |
| 2025 | -2.7% | -5.6% | +2.9% |
| 2024 | 28.0% | 26.5% | +1.5% |
| 2023 | 57.2% | 48.3% | +8.9% |
Benchmark proxy: Motilal Oswal Nifty Smallcap 250 Index Fund (Direct plan NAV, price return), which carries its own costs. The first year starts from the first 31 December in the scheme's history.
Monthly SIP of ₹10,000 first business day of each month, ending 1 Oct 2026
| Period | Invested | Value | XIRR |
|---|---|---|---|
| 1 year | ₹1,20,000 | ₹1,32,880 | 20.5% |
| 3 years | ₹3,60,000 | ₹4,29,605 | 11.8% |
Uses this plan's NAVs; ignores stamp duty, exit loads and taxes. One historical path only — the interactive SIP analyzer shows outcomes across every start date.
Scheme facts
Category: Small Cap
Plan / option: Regular · Growth
AMFI scheme code: 150912
ISIN: INF174V01BH3
First NAV in MFIC data: 14 Dec 2022
History: 3.8 years
Portfolio holdings: see the scheme's monthly portfolio disclosure on the fund house website
Schemes that behaved similarly correlation of monthly returns, last 5 years
| Scheme | Category | Correlation | 3Y CAGR |
|---|---|---|---|
| Nippon India Small Cap Fund | Small Cap | 0.97 | 13.4% |
| BANDHAN INNOVATION FUND | Sectoral/Thematic | 0.97 | n/a |
| Axis Small Cap Fund | Small Cap | 0.97 | 13.5% |
| Aditya Birla Sun Life Small Cap Fund | Small Cap | 0.97 | 13.5% |
| Edelweiss Small Cap Fund | Small Cap | 0.96 | 12.7% |
| BANDHAN Small Cap Fund | Small Cap | 0.96 | 21.6% |
Questions about Mahindra Manulife Small Cap Fund
- What is the latest NAV of Mahindra Manulife Small Cap Fund?
- The NAV of the Regular plan (growth option) was ₹21.8183 on 1 Oct 2026, as published by AMFI.
- Which category is Mahindra Manulife Small Cap Fund in?
- It is classified as Small Cap in AMFI's daily NAV file; a Small Cap scheme invests at least 65% in small-cap stocks. MFIC compares it with 36 Small Cap schemes (Regular plans).
- What returns has Mahindra Manulife Small Cap Fund delivered?
- Over one year the NAV changed by 14.0%. The 3-year CAGR is 17.5% (category median 13.5%). Returns are after expenses and before tax. Past performance may or may not be sustained in future.
- How consistent have its 3-year returns been?
- Measuring a 3-year CAGR from every business day in its history, the median was 22.1%, the lowest was 17.5%, and 100% of 3-year periods ended with a gain. It was ahead of Nifty Smallcap 250 (index-fund proxy) in 100% of those periods.
- What was the largest fall in Mahindra Manulife Small Cap Fund's NAV?
- The largest peak-to-trough fall in its available history was 26.4%.
- How volatile is Mahindra Manulife Small Cap Fund?
- Its annualised standard deviation of monthly returns over the last 36 months is 19.9%, which is above the Small Cap category median of 19.9%.
- What would a monthly SIP in Mahindra Manulife Small Cap Fund have grown to?
- A SIP of ₹10,000 on the first business day of each month for the last 3 years (36 instalments, ₹3,60,000 invested) would have been worth about ₹4,29,605 on 1 Oct 2026, an annualised return (XIRR) of 11.8%. This uses the Regular plan's NAVs, ignores taxes and exit loads, and past performance may or may not be sustained in future.
- What is the expense ratio (TER) of Mahindra Manulife Small Cap Fund?
- The total expense ratio of the Regular plan is 2.21% a year, as disclosed to AMFI (median of Small Cap Regular plans: 2.06%). It is already deducted from the NAV, so every return shown is after expenses.
- How large is Mahindra Manulife Small Cap Fund?
- Assets under management of the whole scheme were ₹5,373 crore on 30 Sep 2026, as published by AMFI.
- What is the riskometer level of Mahindra Manulife Small Cap Fund?
- AMFI lists the scheme's riskometer as “Very High”, and its benchmark's as “Very High”. The riskometer is a label of potential risk set under SEBI rules, not a forecast.
- What is the benchmark of Mahindra Manulife Small Cap Fund and how has it compared?
- Its official benchmark is the BSE 250 Smallcap TRI. Over 3 years AMFI reports a return of 18.0% for this plan against 12.3% for the benchmark total return index. Past performance does not indicate future results.
- Who manages Mahindra Manulife Small Cap Fund?
- According to its Scheme Summary Document, Mahindra Manulife Small Cap Fund is managed by Krishna Sanghavi (since 24 Oct 2024), Manish Lodha (since 12 Dec 2022).
- What is the exit load of Mahindra Manulife Small Cap Fund?
- As stated in its scheme documents: Exit Load: 1%**An Exit Load of 1% is payable if Units are redeemed / switched-out upto 3 months from the date of allotment; Nil if Units are redeemed / switched-out after 3 months from the date of allotment. Check the latest Scheme Information Document before investing, as loads can change.
- What is the minimum investment in Mahindra Manulife Small Cap Fund?
- The minimum application amount is ₹1,000. SIP details: SIP - Weekly & Monthly: 500; Quarterly: 1500, SWP - Monthly: 500; Quarterly: 500, STP - Daily, Weekly & Monthly: 500; Quarterly: 1500.
- What is the difference between the Direct and Regular plans?
- Both plans hold the same portfolio; the Regular plan includes distribution costs in its expense ratio. Over one year the Direct plan's NAV changed by 15.6% and the Regular plan's by 14.0%. The Regular plan includes the services of a distributor.
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Data & disclosure. Source: AMFI daily NAV file and historical NAVs via mfapi.in; calculations by MFIC, as of 1 Oct 2026. Category medians use Regular plans in the same AMFI category. Mutual fund investments are subject to market risks; read all scheme-related documents carefully. Past performance may or may not be sustained in future. This page is for research and education only and is not investment advice or a recommendation to buy, sell or hold any scheme. Integrato Financial Services Pvt. Ltd. is an AMFI-registered Mutual Fund Distributor (ARN-173155). Methodology.