Quantum Small Cap Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Quantum Small Cap Fund Direct Growth Plan has a NAV of ₹14.02 as of 17 Sep 2026 and scheme AUM of ₹265 Cr. Its 1-year, 3-year and 5-year returns are 7.56%, 0% and 0%, and the fund sits in the High Risk bucket.

Our view is that this is a small-cap fund for investors who can tolerate sharp swings and a short history of performance. The return pattern is still building, while the portfolio mix shows a meaningful cash cushion and a spread across 57 disclosed holdings, which may soften some day-to-day moves but does not remove the underlying small-cap risk.

Quick facts

Particular	Details
NAV	₹14.02 as of 17 Sep 2026
AUM	₹265 Cr
Expense Ratio	0.7%
Launch Date	03 Nov 2023
Min SIP	₹500
Risk Category	High Risk
Benchmark	Nifty Small Cap
Fund Category	Equity
Exit Load	Nil upto 10% of units and 1% for remaining units on or before 365D, Nil after 365D
Fund Managers	Chirag Mehta, Abhilasha Satale

The fund is managed by Chirag Mehta and Abhilasha Satale.

Source data date: as of 17 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-1.75%	-1.84%
3M	1.08%	2.25%
1Y	7.56%	4.94%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The recent picture is mixed but not weak in outright terms. Over 1 month, the fund was slightly less negative than the benchmark, which suggests it held up a little better in a soft patch. Over 3 months, it trailed the benchmark, so the latest run has not been uniformly stronger than the index.

The 1-year number is more encouraging, because the fund has outpaced the benchmark by a clear margin. That tells us the fund has had phases where stock selection has added value, even though the shorter 3-month snapshot was less supportive. For investors, this matters because small-cap results can change quickly from one window to another.

The chart pattern also looks uneven rather than smooth. There were periods of weakness followed by recovery, which is typical of a high-volatility small-cap mandate. Our view is that the fund has shown enough rebound capability over 12 months, but the absence of longer completed 3-year and 5-year return histories means the longer compounding story is still limited.

Against the benchmark, the fund is ahead on 1 year and slightly better on 1 month, but behind on 3 months. That is a reminder that short-term numbers do not line up neatly here. For a small-cap investor, the more relevant takeaway is that the fund has not moved in a straight line and should be judged with a long enough holding period.

Source data date: as of 17 Sep 2026

Should you BUY or HOLD Quantum Small Cap?

A fund's past returns alone don't tell you whether you should buy it today or continue holding it.

The right decision depends on factors such as your current allocation, purchase price, risk profile, investment horizon and the role this fund plays in your overall portfolio.

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Peer comparison

Fund	1Y return	3Y return	5Y return
Quantum Small Cap Fund Direct Growth Plan	7.56%	Data not available	Data not available
TRUSTMF Small Cap Fund Direct Growth Plan	27.33%	Data not available	Data not available
Bank of India Small Cap Fund Direct Growth Plan	24.01%	20.78%	19.46%
Motilal Oswal Small Cap Fund Direct Growth Plan	19.7%	Data not available	Data not available
Union Small Cap Fund Direct Growth Plan	18.13%	16.46%	16.71%
ITI Small Cap Fund Direct Growth Plan	17.75%	23.78%	18.52%

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.

On the available 1-year figures, this fund trails every peer listed here. The gap is especially visible versus the stronger recent performers, which suggests its recent momentum has been more muted than the peer set.

The longer-window picture is harder to compare fully because several peers do not yet have completed 3-year or 5-year figures. Where those figures exist, the current fund is also behind the available 3-year and 5-year numbers shown for the more seasoned peers. So the short-term and longer-term comparisons both lean the same way: the fund has some catching up to do on visible performance.

Source data date: as of 17 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
TREPS ^	Cash & Cash Equivalents and Net Assets	7.89%
Supriya Lifescience Ltd*	Healthcare	3.29%
Karur Vysya Bank Ltd*	Bank	2.86%
Uniparts India Ltd*	Capital Goods	2.69%
Engineers India Ltd*	Infrastructure	2.67%
Alivus Life Sciences Ltd*	Healthcare	2.62%
Lumax Auto Technologies Ltd*	Automobile & Ancillaries	2.53%
Star Health and Allied Insurance Company Ltd*	Insurance	2.52%
CCL Products (India) Ltd*	Agri	2.51%
Lumax Industries Ltd*	Automobile & Ancillaries	2.46%

The top 10 holdings account for approximately 32.04% of the portfolio.

To see all holdings, visit the Quantum Small Cap Fund Direct Growth Plan page

The largest disclosed holding is TREPS at 7.89%, which is a meaningful cash and cash-equivalent allocation for a small-cap fund. After that, weights fall quite quickly into the 3% range and then cluster around the mid-2% area, so no single equity stake dominates the visible book.

That pattern suggests the portfolio may be fairly spread across the disclosed names rather than concentrated in just a few positions. With 57 holdings disclosed and the top 10 together accounting for 32.04%, the tail beyond the largest names is likely to carry a material share of the portfolio. That can reduce single-stock dependence, although small-cap portfolios can still move sharply when market sentiment changes.

Our view is that the cash holding and the broad number of positions may help balance some individual-stock risk, but they do not change the fund’s small-cap nature. The portfolio still leaves room for stock-specific and segment-specific volatility.

Source data date: as of 17 Sep 2026

Who should invest

This fund fits investors with a high tolerance for volatility and a long enough horizon to absorb uneven small-cap cycles. The official risk tag is High Risk, and the recent return pattern shows short-term swings rather than steady compounding.

Its benchmark comparison and peer comparison both suggest that returns can vary widely across time windows. That means the main trade-off is the possibility of stronger upside over longer holding periods, alongside the risk of underperforming in weaker stretches. A patient investor who understands small-cap drawdowns may find the profile more acceptable than someone seeking smoother returns.

Tax and exit load

Holding period	Tax rate	Description
Units held less than 1 year	20%	Short-term capital gains tax
Units held more than 1 year	12.5%	Long-term capital gains tax

Exit load: NIL up to 10% of units and 1% for remaining units on or before 365 days; no exit load after holding period.

Source data date: as of 17 Sep 2026

Frequently asked questions

What is the current NAV of Quantum Small Cap Fund Direct Growth Plan?

The current NAV is ₹14.02 as of 17 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?

The 1-year return is 7.56%, while the 3-year and 5-year returns are Data not available.

How does it compare with the benchmark?

Over 1 year, the fund has returned 7.56% versus 4.94% for the benchmark. Over 3 months, it has trailed the benchmark, while over 1 month it has been slightly better.

How does it compare with peer funds on recent performance?

On the available 1-year figures, it trails the peer funds listed here. Some peers also have stronger 3-year and 5-year figures where those histories are available.

What is the minimum SIP amount?

The minimum SIP amount is ₹500.

What is the risk profile and who manages the fund?

The fund is classified as High Risk. It is managed by Chirag Mehta and Abhilasha Satale, and the portfolio shows a spread across 57 disclosed holdings with a visible cash-equivalent position.

Bottom line

Quantum Small Cap Fund Direct Growth Plan has shown a better 1-year result than its benchmark, but the shorter windows are less consistent and the longer completed track record is still limited. Relative to the peer names visible here, the recent return profile is softer, and where longer histories are available, it also looks weaker. The fund remains High Risk, with a broad but still small-cap-oriented portfolio and a noticeable cash-equivalent allocation that may help moderate some volatility without removing it.

Published on 18 September 2026 at 9:53 AM IST

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RIA disclosure

Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. This review is prepared by Uniapps Investment Adviser Pvt. Ltd. (earlier known as Uniapps Global Research Pvt. Ltd.) under SEBI Registered Investment Adviser registration INA000017639 for general informational purposes and is not personalized investment advice.