HDFC Small Cap Fund Direct Growth NAV stood at ₹160.55 on 22 September 2026, down 0.01%, with a three-year CAGR of 11.33% and five-year CAGR of 14.92%.

Key Takeaways:

• HDFC Small Cap Fund Direct Growth NAV was nearly unchanged at ₹160.55 on 22 September, declining only 0.01% from the previous valuation. 
• Historical returns varied meaningfully across periods, with -2.59% over one year, 11.33% annualised over three years and 14.92% over five years. 
• The scheme managed approximately ₹41,891 crore, with a Direct Growth expense ratio of 0.75% and minimum SIP and lump-sum investments of ₹100 each. 
• TREPS accounted for 10.25% of the recent portfolio snapshot. Firstsource Solutions was the largest listed equity holding at 3.71%, while the five leading disclosed entries including TREPS represented 23.86%. 

HDFC Small Cap Fund Direct Growth was little changed on 22 September 2026 at ₹160.55, edging just 0.01% lower from the preceding valuation. The latest one-year historical return stood at -2.59%. Its three-year CAGR was 11.33%, with the five-year annualised return higher at 14.92%. 

The difference between the three- and five-year figures was 3.59 percentage points. These longer periods also tell a different story from the one-year number because each begins from a different NAV and captures a different part of the market cycle. 

Fund size stood at approximately ₹41,891 crore. The Direct Growth expense ratio was 0.75%, and both the minimum SIP and minimum lump-sum investment were ₹100. 

TREPS represented 10.25% of the recent disclosed portfolio. It was the largest overall allocation among the displayed entries but is not an equity stock. Firstsource Solutions was the largest listed equity holding at 3.71%, followed by Aster DM Healthcare-related exposure at 3.56%, Gabriel India at 3.25% and eClerx Services at 3.09%. Including TREPS, those five entries represented 23.86%. 

Historical risk measures included alpha of 5.74, beta of 0.98, standard deviation of 5.04 and a Sharpe ratio of 0.41. They describe historical portfolio behaviour rather than future performance. 

The latest 0.01% NAV movement is particularly small and is best described as little changed. It should not be given the same analytical weight as the multi-year return periods, which span substantially more valuation observations. 

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.