TRUSTMF Small Cap Fund
Direct · GrowthAI Summary
TRUSTMF Small Cap Fund has delivered strong lump-sum outperformance against the NIFTY SmallCap 250, with a 1Y fund CAGR of 33.46% versus the benchmark's 8.7% and alpha of 25.01%. However, its 1Y SIP XIRR of 18.99% trails the category average SIP XIRR of 21.59%, suggesting lump-sum performance has been stronger than SIP-based returns relative to peers. Long-term benchmark CAGRs remain positive across all windows while the benchmark's are near zero, indicating consistent alpha generation.
The fund shows a low maximum drawdown of -0.24% with a 59-day drawdown duration and 234-day recovery, though 2 drawdown events exceeding 10% indicate meaningful downside episodes have occurred historically. A 1Y Calmar ratio of 0.71 reflects reasonable risk-adjusted returns. Downside capture of 76.72% (1Y) and 82.22% (3Y) against upside capture near 97-99% shows the fund protects capital better than it captures full market gains, a favorable asymmetry.
The top 10 holdings account for roughly 28% of a 63-stock portfolio, indicating moderate concentration with meaningful diversification. Banks dominate at 12.8% of the portfolio, with three bank stocks (Karur Vysya, City Union, Federal Bank) among the top five holdings, followed by Capital Markets at 8.7% led by MCX. Sector allocation is reasonably spread across financials, pharma, auto components, and chemicals, reducing single-sector dependence.
While the fund's 1Y SIP XIRR of 18.99% lags the category average of 21.59%, its lump-sum benchmark comparison is exceptional, with alpha of 25.01% over 1Y and positive alpha across all periods up to 15 years. The fund's 3Y CAGR of 11.04% versus the benchmark's 0.59% demonstrates resilience through weak small-cap cycles. Calendar year returns have been uneven, ranging from 26.86% in 2026 to just 0.28% in 2025, reflecting small-cap volatility.
This fund suits investors with a high risk tolerance and a long time horizon of at least 5-7 years, given small-cap volatility and uneven calendar-year returns. It is appropriate for those seeking benchmark-beating returns with better-than-market downside protection, as evidenced by its low downside capture ratios. Investors should be comfortable with periods of flat or negative returns, such as the 0.28% calendar year return in 2025.
- Exceptional benchmark outperformance with 1Y alpha of 25.01% and positive alpha across all rolling periods up to 15 years
- Favorable return asymmetry with downside capture of 76.72-82.22% versus upside capture of 96.95-99.23%
- Low expense ratio of 0.47% for a small cap fund, enhancing net returns for investors
- 1Y SIP XIRR of 18.99% trails the category average SIP XIRR of 21.59%, indicating weaker SIP-based performance versus peers
- Heavy banking exposure of 12.8% with three bank stocks in the top five holdings creates sector concentration risk
Generated on 09-09-2026, 3:33 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 | ₹13.08 L | 21.9% | -12.6% | 50.7% |
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 | 21.9% | 22.0% | 21.6% | -0.1% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 17.0% | 19.7% | -2.0% | 34.9% | 1.05 | 4.44 | 95% | — | — |
Calmar Ratio by Duration
Compared against NIFTY SMALLCAP 250
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +25.01 | 0.89 | 99.2% | 76.7% | 33.5% | 8.7% |
| 3 Years | +9.94 | 0.91 | 97.0% | 82.2% | 11.0% | 0.6% |
| 5 Years | +5.60 | 0.91 | 97.0% | 82.2% | 6.5% | 0.3% |
| 7 Years | +3.80 | 0.91 | 97.0% | 82.2% | 4.6% | 0.3% |
| 10 Years | +2.47 | 0.91 | 97.0% | 82.2% | 3.2% | 0.2% |
| 12 Years | +1.95 | 0.91 | 97.0% | 82.2% | 2.6% | 0.1% |
| 15 Years | +1.45 | 0.91 | 97.0% | 82.2% | 2.1% | 0.1% |
| # | 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% |