COMPARE
ITI Small Cap Fund - Direct Plan - Growth Option vs Kotak-Small Cap Fund - Growth - Direct
ITI Small Cap Fund and Kotak-Small Cap Fund are both in the Small Cap Fund category, from ITI Asset Management Limited and Kotak Mahindra Asset Management Company Limited. respectively. ITI Small Cap Fund has posted a higher 3-year rolling CAGR. Kotak-Small Cap Fund has the lower expense ratio. See the full table and FAQ below for the complete real-data comparison.
Basics
Kotak-Small Cap Fund has the lower direct-plan expense ratio, by 0.21 percentage points.
| ITI Small Cap Fund - Direct Plan - Growth Option | Kotak-Small Cap Fund - Growth - Direct | |
|---|---|---|
| Category | Small Cap Fund | Small Cap Fund |
| AMC | ITI Asset Management Limited | Kotak Mahindra Asset Management Company Limited. |
| Benchmark | Nifty Smallcap 250 TRI | Nifty Smallcap 250 TRI |
| NAV | ₹36.137 (2026-10-28) | ₹304.536 (2026-10-28) |
| AUM | ₹3,512.75 Cr | ₹18,513.406 Cr |
| Expense Ratio (Direct) | 0.86% | 0.6459% |
| Inception | 2020-01-27 | 2004-12-30 |
Returns
ITI Small Cap Fund leads on 3-year rolling CAGR (26.6% vs Kotak-Small Cap Fund's 20.6%) - see the FAQ below for percentile context within each fund's own category.
Risk Metrics
ITI Small Cap Fund has been the more volatile of the two by standard deviation.
| ITI Small Cap Fund - Direct Plan - Growth Option | Kotak-Small Cap Fund - Growth - Direct | |
|---|---|---|
| 3Y Sharpe Ratio | 0.62 | 0.12 |
| 3Y Alpha | 10.4042% | 0.6262% |
| 3Y Std Deviation | 19.3768% | 16.655% |
| 3Y Calmar Ratio | 0.79 | 0.36 |
Portfolio Analytics
ITI Small Cap Fund carries the higher portfolio P/E ratio (a rougher proxy for how richly the underlying holdings are valued) - see the table below for the full comparison.
| ITI Small Cap Fund - Direct Plan - Growth Option | Kotak-Small Cap Fund - Growth - Direct | |
|---|---|---|
| P/E Ratio | 39.9432 | 31.1785 |
| P/B Ratio | 8.7753 | 7.3894 |
| Dividend Yield | 0.3245% | 0.6003% |
| Active Share | 73.15% | 87.04% |
| Portfolio Turnover | 123% | 2068% |
| YTM | - | - |
| Duration (Macaulay) | - | - |
Punji Fund Health Score
ITI Small Cap Fund has the stronger Punji Quality grade of the two.
Frequently asked questions
Which has a higher 3-year return, ITI Small Cap Fund or Kotak-Small Cap Fund?
ITI Small Cap Fund's 3-year rolling CAGR of 26.6% is higher than Kotak-Small Cap Fund's 20.6%. ITI Small Cap Fund sits in the 75th percentile of its category on this metric, versus the 42nd percentile for Kotak-Small Cap Fund - though note both funds may belong to different categories with different medians, so a raw CAGR comparison doesn't account for how each fund performed relative to its own peers. A higher historical return also doesn't necessarily mean lower risk; check the risk metrics below before concluding either fund is the "better" choice.
Which has a lower expense ratio, ITI Small Cap Fund or Kotak-Small Cap Fund?
Kotak-Small Cap Fund's direct-plan expense ratio is 0.21 percentage points lower than ITI Small Cap Fund's. Over long holding periods, a persistent expense-ratio gap compounds into a materially different final corpus even if the two funds' gross returns are similar - it's one of the few fund attributes you can compare with total certainty upfront, unlike future returns, since the fee is contractually fixed rather than a historical estimate.
Which fund carries more risk, ITI Small Cap Fund or Kotak-Small Cap Fund?
By standard deviation (a measure of how much a fund's returns swing around its own average), ITI Small Cap Fund has been more volatile than Kotak-Small Cap Fund over the trailing window. Standard deviation captures total volatility in both directions - up and down - so a higher figure means bigger swings generally, not necessarily bigger losses specifically. Sharpe ratio (0.62 for ITI Small Cap Fund vs 0.12 for Kotak-Small Cap Fund) is a better single measure of risk-adjusted return, since it weighs the return earned per unit of volatility taken rather than volatility alone.
Which has higher AUM, ITI Small Cap Fund or Kotak-Small Cap Fund?
Kotak-Small Cap Fund has ₹18,513 Cr in assets under management, versus ₹3,513 Cr for ITI Small Cap Fund. A larger AUM generally means deeper liquidity and lower per-unit fixed costs for the AMC to spread across investors, but an AUM that's very large relative to a fund's category and strategy (especially in small/mid cap categories, where the investable universe is smaller) can also make it harder for a manager to enter and exit positions without moving the price - bigger isn't automatically better, especially for less liquid categories.
Which fund has a longer track record, ITI Small Cap Fund or Kotak-Small Cap Fund?
Kotak-Small Cap Fund launched on 2004-12-30, making it older than ITI Small Cap Fund (launched 2020-01-27). A longer track record means more real market cycles (bull runs, corrections, rate cycles) the fund has actually navigated, which is useful context for judging consistency - but it isn't a guarantee of future performance, and a newer fund isn't automatically worse, especially if it's run by an experienced manager or team with a track record at a prior fund.
Data as of 2026-10-29. Source: AMFI disclosures via Punji. Not investment advice.