32 small-cap funds hit 52-week high NAVs on August 5. How have they performed since launch?

With the Nifty Smallcap 250 Index reaching a high of 18,365 on August 5, 2026, the direct plans of 32 small-cap funds also scaled their 52-week high NAVs on the same day, according to ACE MF data. This article looks at the performance of these schemes since their respective launch dates.

Data shows that the most of the small-cap funds have generated strong returns, with many schemes delivering over 20% annualised returns since inception. Some of the newly launched funds launched during 2022-2026 have also posted returns comparable to many established schemes.

Please note this exercise is intended solely for educational and informational purposes. It should not be construed as a recommendation to invest in any of the schemes mentioned.

List of small-cap funds that hit 52-week high NAVs on August 5, 2026

Data shows that 15 of the 32 funds have delivered more than 20% returns since inception, spanning established and newly launched schemes.

Some of the recently launched small-cap funds have also delivered strong returns despite their limited track record. This suggests that funds launched during or after the recent market correction have benefited from the subsequent rally. There has been a small surge in the small cap segment over the past six months, with the Nifty Smallcap 250 index rising nearly 16% during this time.

However, there is also a greater dispersion in returns among new launches. For instance, Abakkus and Groww small cap funds have delivered over 20% returns since launch while other recent schemes like Helios, Samco, Bajaj Finserv, JM Small Cap Fund have less than 15% returns in this period.

Among schemes with a track record of at least five years, Bandhan Small Cap Fund is the top performer, having delivered a return of 30.95% since inception. It is followed by Bank of India Small Cap Fund (27.51%), Edelweiss Small Cap Fund (25.15%) and Invesco India Smallcap Fund (24.24%).

Most long-running small-cap funds have delivered annualised returns in the range of 17% to 23%. in particular, funds launched around 2013-2014, which have a much longer performance history, show relatively consistent performance. These include schemes like Axis Small Cap Fund (22.78%), SBI Small Cap Fund (22.86%), DSP Small Cap Fund (21.54%), HSBC Small Cap Fund (19.93%), Kotak Small Cap Fund (19.05%), Sundaram Small Cap Fund (18.44%), Aditya Birla SL Small Cap Fund (17.09%), ICICI Pru Smallcap Fund (16.98%) and Union Small Cap Fund (16.76%).

SBI Small Cap Fund, Axis Small Cap Fund and DSP Small Cap Fund stand out among older schemes that hit their 52-week high NAVs on August 5.

NAV levels vary widely across schemes. However, a fund's NAV does not indicate its performance. Funds with highest NAV among the older schemes are Sundaram Small Cap Fund (329.91), Kotak Small Cap Fund (₹325.98) and DSP Small Cap Fund (₹250). Higher NAVs typically reflect older launch dates and years of accumulated gains rather than superior future return potential.

Can this performance repeat?

At present, most small-cap funds seem to be delivering decent returns. However, a repeat of this performance in the future cannot be guaranteed. More so because, the small cap segment is more volatile with potential for sharp corrections at any time.