The scheme seeks to generate long-term capital appreciation from a diversified portfolio of predominantly equity & equity related instruments of small cap companies.
The Scheme will primarily be a diversified equity fund which will invest predominantly in small cap stocks to generate long term capital appreciation.
Fund Manager
Tejas Sheth, Mayank Hyanki, Krishnaa Narayan
Venugopal Manghat, Mayank Chaturvedi
AMC
Axis Mutual Fund
HSBC Mutual Fund
Taxation
Equity
Equity
Launch Date
28 Nov 2013
11 May 2014
Portfolio Overlap
26.3%
Low overlap
common holdings
26.3% of the combined portfolio weight is common between Axis Small Cap Fund Direct-Growth and HSBC Small Cap Fund Direct-Growth.
40 stocks appear in both portfolios.
The largest shared holding is CCL Products (India) Ltd., at 2.70% of Axis Small Cap Fund Direct-Growth and 1.41% of HSBC Small Cap Fund Direct-Growth.
The two funds hold largely different portfolios, so holding both can genuinely diversify your equity exposure.
Largest common holdings
CCL Products (India) Ltd.Krishna Institute of Medical Sciences LtdSai Life Sciences Ltd.City Union Bank Ltd.Karur Vysya Bank Ltd.Apar Industries Ltd.Craftsman Automation Ltd.Cholamandalam Financial Holdings Ltd.
Axis Small Cap Fund Direct-Growth has delivered the higher 3-year CAGR (16.91% vs 16.17%). HSBC Small Cap Fund Direct-Growth is the cheaper of the two with an expense ratio of 0.76% against 0.77%. Axis Small Cap Fund Direct-Growth manages the larger corpus at ₹29.39k Cr. There is no single "better" fund — the right choice depends on your holding period, risk appetite and what you already own. Use the returns, risk and portfolio overlap tables above to judge which fits your portfolio, and remember that past returns do not guarantee future performance.
Over 1 year, Axis Small Cap Fund Direct-Growth returned 9.58% against 9.24% for HSBC Small Cap Fund Direct-Growth; and over 3 years, Axis Small Cap Fund Direct-Growth leads with a 16.91% CAGR versus 16.17%. Returns beyond one year are CAGR (annualised). Short-period returns are heavily influenced by market cycles, so compare over at least three to five years before drawing conclusions.
HSBC Small Cap Fund Direct-Growth has the lower expense ratio at 0.76%, compared with 0.77% for Axis Small Cap Fund Direct-Growth — a difference of 0.01% a year. The expense ratio is deducted from NAV daily, so a lower ratio directly improves your net return, though it should not be the only reason to pick a fund.
Both Axis Small Cap Fund Direct-Growth and HSBC Small Cap Fund Direct-Growth carry a "Very High" rating on the SEBI Riskometer. Within the same riskometer band, differences still show up in maximum drawdown, volatility and market-cap mix — all of which are compared in the tables above.
The portfolio overlap between the two funds is 26.3%, which is considered low. At this level the two funds hold largely different portfolios, so holding both can genuinely diversify your equity exposure. You can see the shared stocks in the overlap section above.
Yes — both are Equity: Small Cap funds, which means they follow similar mandates and are benchmarked against comparable indices. That makes a direct comparison of returns, expense ratio and risk meaningful.
Axis Small Cap Fund Direct-Growth has a NAV of ₹134.42 and an AUM of ₹29.39k Cr, and was launched on 28 Nov 2013. HSBC Small Cap Fund Direct-Growth has a NAV of ₹98.74 and an AUM of ₹17.83k Cr, launched on 11 May 2014. NAV on its own says nothing about how expensive or cheap a fund is — only the return on it matters.
