HDFC Small Cap Fund Direct Growth NAV Rises to ₹161.38 on 23 September; 5-Year CAGR at 14.89%

Key Takeaways:

• HDFC Small Cap Fund Direct Growth recorded an NAV of ₹161.38 on 23 September 2026, after a 0.52% increase from the preceding valuation. 
• The latest one-year return stood at -1.94%, whereas the three-year CAGR was 11.51% and the five-year CAGR 14.89%. The five-year annualised figure was 16.83 percentage points above the latest one-year return. 
• TREPS represented 10.25% of a recent portfolio snapshot, making it the largest disclosed allocation but not the largest equity holding. Firstsource Solutions was the largest listed equity position at 3.71%. 
• Assets under management were approximately ₹41,891 crore, and the Direct Growth expense ratio stood at 0.75%. Minimum SIP and lump-sum investments were both ₹100. 

HDFC Small Cap Fund Direct Growth rose 0.52% to ₹161.38 on 23 September 2026. The latest one-year return was -1.94%, in contrast with positive annualised figures over longer horizons. The three-year CAGR stood at 11.51%, and the five-year CAGR was 14.89%. 

The five-year annualised figure was 3.38 percentage points above the three-year CAGR and 16.83 percentage points above the latest one-year return. The periods capture different market starting points, which is why they can diverge substantially even within the same scheme. 

AUM was approximately ₹41,891 crore, and the Direct Growth expense ratio stood at 0.75%. Both the minimum SIP and minimum lump-sum investment were listed at ₹100. 

The portfolio snapshot adds a useful distinction between cash-related and equity exposures. TREPS accounted for 10.25%, making it the largest disclosed portfolio allocation among the cited entries. Firstsource Solutions was the largest listed equity holding at 3.71%, followed by Aster DM Healthcare at 3.56%, Gabriel India at 3.25% and eClerx Services at 3.09%. Those five entries, including TREPS, totalled 23.86%. 

As a small-cap fund, the portfolio primarily invests in companies outside the large- and mid-cap universes. On 23 September, the NAV moved moderately higher even though the latest one-year historical return remained negative. The longer three- and five-year CAGRs were positive, demonstrating how materially the reported result can change with the length and starting point of the measurement period. 

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