TRUSTMF Small Cap Fund
Direct · GrowthAI Summary
TRUSTMF Small Cap Fund has delivered a 1Y SIP XIRR of 26.13%, well ahead of the category average of 17.6%. Against the NIFTY SMALLCAP 250, the fund shows strong alpha across all periods, including 20.69% over 1Y and 10.81% over 3Y, while the benchmark posted negative CAGRs over longer windows. Lump-sum returns have been modest, with a 1Y rolling mean of 19.7% and a 1Y fund CAGR of 17.31% versus the benchmark's -4.38%.
The fund exhibits a low maximum drawdown of -0.24% with a 59-day drawdown duration and 234-day recovery, though 3 drawdown events exceeding 10% indicate meaningful downside episodes have occurred historically. A beta of roughly 0.91 with a downside capture of 81.41% shows the fund has fallen less than the benchmark in declining markets. The 1Y Calmar ratio of 0.813 suggests reasonable risk-adjusted returns relative to its worst drawdown.
The portfolio holds 63 stocks with a top holding, Multi Commodity Exchange of India, at just 4.6% of NAV, indicating healthy diversification. Banks form the largest sector exposure at 12.8%, followed by Capital Markets at 8.7%, giving a combined financial-sector tilt of over 21%. The remaining top sectors, including Pharmaceuticals, Auto Components, and Chemicals, are each under 8%, keeping single-sector concentration moderate.
The fund's 1Y SIP XIRR of 26.13% comfortably beats the category average of 17.6%, positioning it in the upper tier of small cap peers over the recent period. Its consistent positive alpha across 1Y to 15Y horizons, ranging from 20.69% down to 1.71%, reflects durable benchmark outperformance. Calendar year returns of 19.25% in 2026, 0.28% in 2025, and 7.26% in 2024 show uneven but positive absolute performance.
This fund suits investors with high risk tolerance seeking small cap exposure, given the asset class's inherent volatility and the fund's history of multiple 10%-plus drawdown events. A time horizon of at least 5-7 years is appropriate to ride out small cap cycles and allow the fund's alpha generation to compound. It is best used as a satellite allocation within a diversified portfolio rather than a core holding.
- Consistent positive alpha versus the NIFTY SMALLCAP 250 across all measured horizons, from 20.69% over 1Y to 1.71% over 15Y
- Favorable downside capture of 81.41% with beta near 0.91, indicating better-than-benchmark resilience in falling markets
- 1Y SIP XIRR of 26.13% significantly outpaces the category average of 17.6%, supported by a low expense ratio of 0.47%
- Lump-sum long-term CAGRs are modest, with the 5Y fund CAGR at just 5.17%, reflecting the prolonged small cap underperformance cycle
- Financial sector tilt of over 21% (Banks 12.8% plus Capital Markets 8.7%) creates concentration risk in a single macro theme
- Three drawdown events exceeding 10% highlight that meaningful losses are possible despite the currently low maximum drawdown reading
Generated on 29-10-2026, 2:15 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 | ₹13.32 L | 25.9% | -12.6% | 55.9% |
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 | 25.9% | 21.9% | 17.5% | +4.1% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 19.5% | 21.9% | -2.0% | 36.4% | 1.24 | 6.16 | 96% | — | — |
Calmar Ratio by Duration
Compared against NIFTY SMALLCAP 250
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +22.27 | 0.91 | 101.5% | 81.4% | 21.1% | -1.9% |
| 3 Years | +11.28 | 0.92 | 98.6% | 83.2% | 10.2% | -1.7% |
| 5 Years | +6.46 | 0.92 | 98.6% | 83.2% | 6.0% | -1.1% |
| 7 Years | +4.44 | 0.92 | 98.6% | 83.2% | 4.2% | -0.8% |
| 10 Years | +2.94 | 0.92 | 98.6% | 83.2% | 3.0% | -0.5% |
| 12 Years | +2.36 | 0.92 | 98.6% | 83.2% | 2.5% | -0.4% |
| 15 Years | +1.79 | 0.92 | 98.6% | 83.2% | 2.0% | -0.3% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | Multi Commodity Exchange of India Limited | 4.60% |
| 2 | Karur Vysya Bank Limited | 4.05% |
| 3 | City Union Bank Limited | 3.56% |
| 4 | Acutaas Chemicals Limited | 2.97% |
| 5 | The Federal Bank Limited | 2.73% |
| 6 | Navin Fluorine International Limited | 2.48% |
| 7 | Hindustan Copper Limited | 2.38% |
| 8 | S.J.S. Enterprises Limited | 2.04% |
| 9 | Sagility Limited | 1.82% |
| 10 | eClerx Services Limited | 1.81% |