Small cap fund calculator: project returns with real fund CAGRs
Pick a top small cap fund, choose its 3, 5 or 10-year CAGR, and see what a lump sum, SIP or step-up SIP could grow to. Then compare every fund side by side and find your own CAGR or SIP XIRR.
Tip: for a fund, enter the NAV on the start date and the NAV today. CAGR is the steady yearly growth that turns one into the other.
Top small cap funds side by side
Each row shows the same investment from the calculator above, projected at that fund's own CAGR for the period you selected. Click a column to sort, or a row to load that fund into the calculator.
| Fund (Direct, Growth) | 3Y CAGR | 5Y CAGR | 10Y CAGR | Projected value | Gain | Multiple |
|---|
Before you trust a CAGR: how bumpy small caps really are
A single return figure hides how much the ride can vary. These numbers come from AMFI NAV data to 28 September 2026.
The index has fallen hard
| 2020 crash (peak to trough) | −43.5% |
| Jan 2018 to Mar 2020 | about −60% |
| Sep 2024 to Mar 2025 | −26.0% |
- Nifty Smallcap 250 TRI. Plan for a fall of 40% or more at some point.
Rolling 5-year returns vary a lot
| Fund | Worst | Median | Best |
|---|---|---|---|
| Nippon India | 2.3% | 22.2% | 45.0% |
| SBI | 7.4% | 21.4% | 34.5% |
| Quant | −9.7% | 22.9% | 54.6% |
- A year, per start date, for every 5-year window since 2014 (about 1,900 daily windows per fund).
Fund drawdowns
| Fund | 2020 | 2024–25 |
|---|---|---|
| SBI | −33.8% | −22.4% |
| Nippon India | −40.3% | −24.2% |
| Quant | −38.6% | −24.4% |
| Tata | −36.6% | −30.9% |
How the numbers are calculated
Lump sum
One investment today, compounding at the CAGR you choose.
SIP and step-up SIP
Balance = (Balance + Instalment) × (1 + i)
Each instalment goes in at the start of the month. A step-up raises the instalment by your chosen % every 12 months.
CAGR and SIP XIRR
For an SIP the tool solves for the monthly rate that turns your instalments into today's value, then annualises it.
Frequently asked questions
Is the CAGR shown a forecast of future returns?
No. It is the trailing annualised return a fund has already delivered up to a given date. Small cap returns arrive in bursts: the Nifty Smallcap 250 TRI fell about 43.5% peak to trough in 2020 and 26% between September 2024 and March 2025, and individual funds' rolling 5-year returns have ranged from negative to above 50% a year depending on the start date. Treat the projection as an illustration, not a promise.
Why do the same funds show different returns on different websites?
Trailing returns change every day and depend on the end date and the data provider. Between 28 September and 28 October 2026, the 5-year CAGR of Quant, Nippon India and SBI small cap funds fell by roughly 1.8 to 2.2 percentage points. Always check the date next to a number.
How long should I stay invested in a small cap fund?
Small cap funds can stay flat or fall for years. A common guideline is to invest only money you will not need for at least 7 years, and to be sure you could sit through a fall of 40% or more without selling.
How are small cap mutual funds taxed in India?
They are equity funds. Gains on units held up to 12 months are taxed at 20%. Gains on units held longer than 12 months are taxed at 12.5% on the amount above ₹1.25 lakh in a financial year. The calculator's tax estimate is an approximation that assumes one redemption and ignores cess and surcharge.
Can I invest in every fund listed here?
Not always. Some funds limit new money. For example, Nippon India Small Cap has restricted fresh investments since July 2023, and SBI Small Cap capped SIPs at ₹25,000 per PAN per month. Check each fund's latest AMC notice before investing.
What is the difference between CAGR and XIRR?
CAGR measures growth between two dates for a single lump sum. XIRR measures the annualised return when money goes in on several dates, such as a monthly SIP. Use the "Find my CAGR / XIRR" tab for either.
What counts as a small cap fund?
Under SEBI rules a small cap fund must keep at least 65% of its assets in companies ranked 251st or lower by market capitalisation, using the list AMFI publishes every six months.