Which small cap fund has the best risk-adjusted returns?

The cleanest way to answer this is the Sortino ratio — return earned per unit of downside risk. Raw returns flatter funds that took wild risks in a bull run; Sortino rewards funds that grew money while falling less in corrections, which is what actually matters in small caps.

The live leaderboard below ranks every small cap fund by 3-year Sortino, recomputed from official AMFI NAV history every time our data refreshes. Cross-check the leader's Sharpe ratio and expense ratio before shortlisting — a top fund should look good on at least two of the three.