31, January 2025

Performance and Risk Assessment of Small-Cap Mutual Funds: A Case Study of Axis Small Cap Fund and SBI Small Cap Fund

Author(s): Dr. Kiritkumar R. Makwana

Authors Affiliations:

Associate Professor, Department of Accountancy,  Government Commerce College, Gandhinagar. 382016.

DOIs:10.2015/IJIRMF/202501007     |     Paper ID: IJIRMF202501007


Abstract
Keywords
Cite this Article/Paper as
References

Small-cap mutual funds are known for their potential to generate high returns, albeit with elevated risk levels. This study evaluates the performance and risk profiles of two leading small-cap mutual funds in India: Axis Small Cap Fund and SBI Small Cap Fund, over a 10-year timeframe. The research compares annualized returns, risk metrics, expense ratios, and sector allocations, employing statistical tools such as correlation and regression analyses. The findings reveal that while Axis Small Cap Fund offers better long-term stability, SBI Small Cap Fund demonstrates stronger short-term performance. These insights aim to assist investors in aligning their investment strategies with financial goals and risk tolerance.

Small-Cap Mutual Funds, Risk Analysis, Performance Evaluation, Axis Small Cap Fund, SBI Small Cap Fund, Expense Ratio, Regression Analysis, Long-Term Investment, Portfolio Diversification.

Dr. Kiritkumar R. Makwana (2025), “Performance and Risk Assessment of Small-Cap Mutual Funds: A Case Study of Axis Small Cap Fund and SBI Small Cap Fund”, International Journal for Innovative Research in Multidisciplinary Field, ISSN(O): 2455-0620, Vol-11, Issue-1, Pp.45-47,  Available on –   https://www.ijirmf.com/    DOIs:10.2015/IJIRMF/202501007

  1. Morningstar India. (2024). Axis Small Cap Fund Overview. https://www.morningstar.in
  2. Economic Times. (2024). SBI Small Cap Fund Performance. https://economictimes.indiatimes.com
  3. SEBI Guidelines. (2024). Regulations for Mutual Funds. https://www.sebi.gov.in
  4. Sharpe, W. F. (1966). Mutual Fund Performance. The Journal of Business, 39(1), 119–138. https://doi.org/10.1086/294846
  5. Fama, E. F., & French, K. R. (1993). Common Risk Factors in the Returns on Stocks and Bonds. Journal of Financial Economics, 33(1), 3-56. https://doi.org/10.1016/0304-405X(93)90023-5
  6. Markowitz, H. (1952). Portfolio Selection. The Journal of Finance, 7(1), 77–91. https://doi.org/10.1111/j.1540-6261.1952.tb01525.x
  7. Bogle, J. C. (2007). The Little Book of Common Sense Investing. Wiley.
  8. Tsay, R. S. (2010). Analysis of Financial Time Series. Wiley. https://doi.org/10.1002/9780470644560
  9. Value Research. (2024). Fund Comparison: Axis and SBI Small Cap Funds. https://www.valueresearchonline.com
  10. Moneycontrol. (2024). Risk and Return Metrics of Small-Cap Funds. https://www.moneycontrol.com

Loading


Download Full Paper

Download PDF No. of Downloads:2 | No. of Views: 17