HDFC Small Cap Fund rises 0.08% to ₹160.59; TREPS is 10.25% of disclosed allocation

Key Takeaways 

• HDFC Small Cap Fund Direct Growth increased 0.08% on 8 September 2026 and closed at an NAV of ₹160.59. 
• Its five-year annualised return of 15.52% was 4.91 percentage points above the three-year figure of 10.61%. 
• TREPS was the largest disclosed allocation at 10.25%, and the five listed entries including TREPS collectively made up 23.86%. 
• The scheme had assets of ₹41,679 crore, a 0.75% Direct Growth expense ratio and equal ₹100 minimums for SIP and lump-sum investments. 

HDFC Small Cap Fund Direct Growth ended 8 September 2026 at an NAV of ₹160.59, a 0.08% increase for the day. Its one-year return remained slightly negative at -0.18%, creating a clear contrast with the double-digit annualised readings over the longer three-year and five-year periods. 

The three-year annualised return was 10.61%, while the five-year number stood at 15.52%. That leaves the five-year figure 4.91 percentage points higher. Relative to the -0.18% one-year reading, the difference was much wider at 15.70 percentage points. 

TREPS was the largest disclosed allocation at 10.25%. Firstsource Solutions followed at 3.71%, Aster DM Healthcare at 3.56%, Gabriel India at 3.25% and eClerx Services at 3.09%. These five entries represented 23.86% in total. Excluding TREPS, the four listed equity holdings together accounted for 13.61%. 

Fund size stood at ₹41,679 crore and the Direct Growth expense ratio was 0.75%. Both the minimum SIP and minimum lump-sum investment were ₹100. The disclosed exit load was 1% for redemptions within one year, falling to nil once that period had elapsed. 

The risk statistics showed alpha at 5.74, beta at 0.98 and standard deviation at 5.04. The Sharpe ratio was 0.41. The 8 September numbers therefore contain two quite different time-scale stories: a daily NAV increase of only 0.08% and a five-year annualised return that remained nearly five percentage points above the three-year figure. The one-year reading, meanwhile, was marginally below zero. 

Mutual fund investments are subject to market risks; read all scheme-related documents carefully.