PGIM India Small Cap Fund
Direct · GrowthAI Summary
PGIM India Small Cap Fund has delivered a 3Y SIP XIRR of 15.99% and a 5Y SIP XIRR of 15.02%, both trailing the category average SIP XIRR of 22.67% and 22.02% respectively. Against the NIFTY SmallCap 250 benchmark, the fund shows meaningful alpha over 1Y (6.99%) and 3Y (3.87%), but alpha fades to near zero over 5Y (1.08%) and turns slightly negative over longer periods. Lump-sum performance is broadly in line with the benchmark over 5Y (15.19% vs 16.03% CAGR), indicating benchmark-level returns rather than clear outperformance.
The fund exhibits a defensive risk profile with beta consistently below 0.85 across all periods and downside capture of roughly 73-79%, meaning it falls less than the benchmark in corrections. It recorded 3 drawdown events greater than 10%, with a maximum drawdown lasting 154 days and taking 392 days to recover, which is typical of small-cap volatility. Calmar ratios of 0.55-0.64 across 1Y, 3Y, and 5Y suggest moderate risk-adjusted returns, aided by the low downside capture.
Holdings-level portfolio data was not provided, so specific top holdings and sector concentrations cannot be assessed. The fund's low beta and below-benchmark upside capture (77-87%) indicate a conservative small-cap positioning that likely favors quality or defensive names over high-beta cyclicals. Investors should review the latest factsheet for actual stock and sector allocation before investing.
The fund lags its category peers meaningfully on SIP XIRR, with a 3Y gap of about 6.7 percentage points (15.99% vs 22.67% category average). Calendar year returns show inconsistency, ranging from -4.7% in 2022 to 25.51% in 2023 and only 0.41% in 2025. Its strength lies in capital preservation during downturns rather than topping the category in bull phases, as reflected in upside capture below 87%.
This fund suits conservative small-cap investors who prioritize downside protection over maximum upside, given its low beta and strong downside capture. A time horizon of at least 5-7 years is appropriate for small-cap investing, and investors should be able to tolerate multi-year recovery periods as seen in the 392-day drawdown recovery. Those seeking category-leading SIP returns may find better options among peers.
- Consistently low beta (0.75-0.84) with downside capture of 73-79%, offering better downside protection than the benchmark
- Strong 1Y alpha of 6.99% and 3Y alpha of 3.87% versus the NIFTY SmallCap 250
- Low expense ratio of 0.61% for the direct plan keeps cost drag minimal
- SIP XIRR significantly trails the category average across all horizons, including a 6.7 percentage point gap over 3Y
- Alpha diminishes to nearly zero over 5Y and turns negative beyond 7Y, indicating no sustained long-term outperformance
Generated on 11-09-2026, 3:18 AM. Verify before investing.
Gives more importance to longer time periods (10Y, 20Y) than shorter ones (1Y, 3Y). This balances out recent outperformance and gives a more realistic picture of what long-term returns might look like.
The largest peak-to-trough decline in the fund's NAV. Shows the worst-case loss an investor would have experienced at any point in the fund's history.
If you invested ₹1,00,000 every month via SIP, here's how this fund has historically performed across different time horizons.
| Duration | Invested | Median Value | XIRR | Min XIRR | Max XIRR |
|---|---|---|---|---|---|
| 1 Year | ₹12.00 L | ₹12.77 L | 14.6% | -24.7% | 50.4% |
| 3 Years | ₹36.00 L | ₹45.01 L | 16.0% | 1.3% | 28.9% |
| 5 Years | ₹60.00 L | ₹85.92 L | 15.0% | 13.7% | 16.5% |
SIP returns vs benchmark & category
Annualised SIP return (XIRR) over each rolling horizon — like-for-like, not lump-sum.
| Duration | Fund SIP XIRR | NIFTY SMALLCAP 250 | Category avg | Fund edge |
|---|---|---|---|---|
| 1 Year | 14.6% | 22.0% | 21.6% | -7.4% |
| 3 Years | 16.0% | 15.3% | 22.7% | +0.7% |
| 5 Years | 15.0% | 14.3% | 22.0% | +0.7% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 13.6% | 10.2% | -9.3% | 42.6% | 0.55 | 1.78 | 89% | — | — |
| 3 Years | 15.6% | 16.0% | 7.8% | 21.7% | 3.33 | — | 100% | — | — |
| 5 Years | 14.8% | 14.9% | 13.9% | 15.2% | 22.61 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY SMALLCAP 250
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +6.99 | 0.84 | 87.0% | 79.2% | 15.3% | 8.7% |
| 3 Years | +3.87 | 0.75 | 77.6% | 73.2% | 18.6% | 17.4% |
| 5 Years | +1.08 | 0.80 | 80.4% | 78.2% | 15.2% | 16.0% |
| 7 Years | +0.76 | 0.80 | 80.4% | 77.7% | 10.4% | 10.4% |
| 10 Years | +0.12 | 0.80 | 80.4% | 77.7% | 7.2% | 7.2% |
| 12 Years | -0.13 | 0.80 | 80.4% | 77.7% | 5.9% | 5.9% |
| 15 Years | -0.37 | 0.80 | 80.4% | 77.7% | 4.7% | 4.7% |