DSP Asset Managers Private Limited · Other ETFs

DSP Nifty Smallcap 250 ETF

Other Scheme - Other ETFs Regular plan benchmark: Nifty Smallcap 250 TRI launched 24 Nov 2025 open-ended

At a glance

the fund as it stands today, from public disclosures

NAV, 21 Sep 2026

₹18.39

−0.04% since 18 Sep 2026, the previous NAV

1 year

not enough history

3 years

not enough history

5 years

not enough history

Since launch

12.3%

a year, over 0.8 years

Assets (AUM)

₹8 Cr

Aug 2026 factsheet

Expense ratio, Direct / Regular

0.17% / 0.00%

a year, as of Aug 2026

Holdings

252

top ten are 13% of the fund · Aug 2026

Disclosed history

9 mo

Dec 2025 – Aug 2026 · 4 of 11 checks could run

Fund managers

Anil Ghelani · since Dec 2025Diipesh Shah · since Dec 2025Neha Rathi · since May 2026

All managers →

What only Anveshan can tell you

measured from the disclosures, not quoted from a brochure — each links to how it was done

P5Cost, measured

Cannot be measured: needs both a Direct and a Regular growth class.

The Regular and Direct plans hold the same portfolio; the Regular one pays a distributor out of your money every day. The gap between the two NAVs is that cost, measured from the NAVs rather than quoted from a document.

See how it is measured →

P7Whose record

Run by Anil Ghelani for 9 mo

with Diipesh Shah, Neha Rathi. A return earned before they arrived is the house's record, not theirs — the tenure table shows the fund against its category over exactly their months.

Anil Ghelani's other funds →

NAVTracking gap

Not replicated: the portfolio cannot be priced line by line in this build.

Each day, the NAV the fund published against the NAV its last disclosed portfolio would have produced at that day's prices. A gap that opens and stays is a change the fund has made and not disclosed yet.

See the daily gap →

P4Consistency

Not measurable yet: needs three years of NAV and a category median.

Take every three-year stretch since the fund had a NAV, one starting each month, and ask two things of each: did it beat the typical fund in its category, and by how much. Counting the wins tells you the record does not depend on when you happen to look; averaging the margin tells you whether winning often was worth anything, because four small wins do not pay for one large loss.

See every window →

headline and record disagree 2 checks found the headline number and the underlying record pointing different ways — marked on the cards below.

NAV and drawdown

Regular plan class · as of 21 Sep 2026

Month-end NAV, indexed to 100 at Dec 2025

10 month-ends · ₹16.67 → ₹18.39, 1.1× since Dec 2025

Deepest fall (max drawdown)

−15.4%

5 Jan 2026 → 23 Mar 2026

Worst month

−9.8%

Mar 2026

Days to recover

from the deepest trough back to the old high

Drawdown is measured on the last year of daily NAV; trailing returns are CAGR of the regular growth class. A single end date decides them — the consistency card (P4) below is the record that does not, and it reports both how often the fund beat its category and by how much, because the first without the second can point the wrong way.

Holdings

Aug 2026 disclosure · 252 lines · when each was first held and the change over the last three disclosures

#	Holding	Sector	Weight	First held	Held for	3-mo change
1	Sona Blw Precision Forgings Limited equity	Auto Components	1.65%	Mar 2026	6 mo	+0.31% points
2	Ather Energy Limited equity	Automobiles	1.50%	Dec 2025	9 mo	+0.59% points
3	Karur Vysya Bank Limited equity	Banks	1.49%	Dec 2025	9 mo	+0.14% points
4	Navin Fluorine International Limited equity	Chemicals & Petrochemicals	1.44%	Dec 2025	9 mo	+0.14% points
5	Welspun Corp Limited equity	Industrial Products	1.42%	Dec 2025	9 mo	+0.53% points
6	Piramal Finance Limited equity	Finance	1.25%	Mar 2026	6 mo	+0.10% points
7	Delhivery Limited equity	Transport Services	1.16%	Dec 2025	9 mo	−0.09% points
8	HFCL Limited equity	Telecom - Services	1.15%	Dec 2025	9 mo	+0.24% points
9	Central Depository Services (India) Limited equity	Capital Markets	1.13%	Dec 2025	9 mo	+0.04% points
10	RBL Bank Limited equity	Banks	1.06%	Dec 2025	9 mo	+0.03% points
11	Gland Pharma Limited equity	Pharmaceuticals & Biotechnology	1.04%	Dec 2025	9 mo	+0.16% points
12	City Union Bank Limited equity	Banks	1.00%	Dec 2025	9 mo	+0.09% points
13	PNB Housing Finance Limited equity	Finance	0.98%	Dec 2025	9 mo	+0.03% points
14	Redington Limited equity	Commercial Services & Supplies	0.96%	Dec 2025	9 mo	+0.30% points
15	Aster DM Quality Care Limited equity	Healthcare Services	0.92%	Dec 2025	9 mo	+0.01% points
16	Sai Life Sciences Limited equity	Pharmaceuticals & Biotechnology	0.91%	Dec 2025	9 mo	+0.12% points
17	Krishna Institute Of Medical Sciences Limited equity	Healthcare Services	0.89%	Dec 2025	9 mo	−0.03% points
18	Anand Rathi Wealth Limited equity	Capital Markets	0.89%	Dec 2025	9 mo	+0.16% points
19	Computer Age Management Services Limited equity	Capital Markets	0.85%	Dec 2025	9 mo	−0.09% points
20	Neuland Laboratories Limited equity	Pharmaceuticals & Biotechnology	0.85%	Dec 2025	9 mo	+0.11% points
21	Manappuram Finance Limited equity	Finance	0.85%	Dec 2025	9 mo	−0.03% points
22	Angel One Limited equity	Capital Markets	0.84%	Feb 2026	7 mo	−0.24% points
23	Kirloskar Oil Engines Limited equity	Industrial Products	0.79%	Dec 2025	9 mo	0.00% points
24	Hindustan Copper Limited equity	Non - Ferrous Metals	0.78%	Dec 2025	9 mo	−0.09% points
25	Poonawalla Fincorp Limited equity	Finance	0.75%	Dec 2025	9 mo	+0.08% points
26	Amber Enterprises India Limited equity	Consumer Durables	0.75%	Dec 2025	9 mo	−0.07% points
27	Acutaas Chemicals Limited equity	Pharmaceuticals & Biotechnology	0.74%	Mar 2026	6 mo	−0.06% points
28	Kalpataru Projects International Limited equity	Construction	0.72%	Dec 2025	9 mo	−0.01% points
29	Aegis Logistics Limited equity	Gas	0.72%	Dec 2025	9 mo	+0.26% points
30	Wockhardt Limited equity	Pharmaceuticals & Biotechnology	0.71%	Dec 2025	9 mo	−0.11% points
31	Craftsman Automation Limited equity	Auto Components	0.71%	Dec 2025	9 mo	+0.14% points
32	Himadri Speciality Chemical Limited equity	Chemicals & Petrochemicals	0.70%	Dec 2025	9 mo	0.00% points
33	Crompton Greaves Consumer Electricals Limited equity	Consumer Durables	0.69%	Dec 2025	9 mo	−0.20% points
34	Dr. Lal Path Labs Limited equity	Healthcare Services	0.68%	Dec 2025	9 mo	+0.06% points
35	IIFL Finance Limited equity	Finance	0.68%	Dec 2025	9 mo	+0.14% points
36	Bandhan Bank Limited equity	Banks	0.68%	Dec 2025	9 mo	−0.24% points
37	Cholamandalam Financial Holdings Limited equity	Finance	0.67%	Dec 2025	9 mo	−0.10% points
38	Tata Technologies Limited equity	IT - Services	0.65%	Mar 2026	6 mo	+0.05% points
39	Nuvama Wealth Management Limited equity	Capital Markets	0.61%	Dec 2025	9 mo	+0.02% points
40	Elgi Equipments Limited equity	Industrial Products	0.61%	Dec 2025	9 mo	0.00% points
41	Piramal Pharma Limited equity	Pharmaceuticals & Biotechnology	0.60%	Dec 2025	9 mo	+0.07% points
42	Data Patterns India Limited equity	Aerospace & Defense	0.60%	Dec 2025	9 mo	0.00% points
43	Star Health And Allied Insurance Co Limited equity	Insurance	0.60%	Dec 2025	9 mo	−0.01% points
44	Narayana Hrudayalaya Limited equity	Healthcare Services	0.60%	Dec 2025	9 mo	−0.05% points
45	Kfin Technologies Limited equity	Capital Markets	0.59%	Dec 2025	9 mo	+0.03% points
46	Great Eastern Shipping Co Limited equity	Transport Services	0.59%	Dec 2025	9 mo	−0.10% points
47	Carborundum Universal Limited equity	Industrial Products	0.58%	Dec 2025	9 mo	0.00% points
48	PTC Industries Limited equity	Industrial Products	0.58%	Dec 2025	9 mo	+0.09% points
49	CarTrade Tech Limited equity	Retailing	0.57%	Mar 2026	6 mo	+0.21% points
50	Brigade Enterprises Limited equity	Realty	0.55%	Dec 2025	9 mo	+0.10% points
51	Deepak Nitrite Limited equity	Chemicals & Petrochemicals	0.55%	Mar 2026	6 mo	−0.02% points
52	Granules India Limited equity	Pharmaceuticals & Biotechnology	0.55%	Dec 2025	9 mo	0.00% points
53	Onesource Specialty Pharma Limited equity	Pharmaceuticals & Biotechnology	0.54%	Dec 2025	9 mo	+0.04% points
54	Asahi India Glass Limited equity	Auto Components	0.52%	Dec 2025	9 mo	−0.02% points
55	Meesho Limited equity	Retailing	0.52%	Mar 2026	6 mo	+0.27% points
56	Home First Finance Co India Limited equity	Finance	0.51%	Dec 2025	9 mo	+0.03% points
57	ZF Commercial Vehicle Control Systems India Limited equity	Auto Components	0.51%	Dec 2025	9 mo	−0.04% points
58	Kaynes Technology India Limited equity	Industrial Manufacturing	0.51%	Dec 2025	9 mo	+0.02% points
59	Sammaan Capital Limited equity	Finance	0.51%	Dec 2025	9 mo	−0.16% points
60	Syrma SGS Technology Limited equity	Industrial Manufacturing	0.51%	Dec 2025	9 mo	+0.10% points
61	Timken India Limited equity	Industrial Products	0.51%	Dec 2025	9 mo	−0.13% points
62	The Ramco Cements Limited equity	Cement & Cement Products	0.50%	Dec 2025	9 mo	−0.04% points
63	Amara Raja Energy And Mobility Limited equity	Auto Components	0.50%	Dec 2025	9 mo	−0.04% points
64	Sagility Limited equity	IT - Services	0.49%	Dec 2025	9 mo	+0.02% points
65	Aarti Industries Limited equity	Chemicals & Petrochemicals	0.49%	Dec 2025	9 mo	+0.01% points
66	Indraprastha Gas Limited equity	Gas	0.48%	Mar 2026	6 mo	−0.08% points
67	Five-Star Business Finance Limited equity	Finance	0.47%	Dec 2025	9 mo	+0.04% points
68	Kajaria Ceramics Limited equity	Consumer Durables	0.47%	Dec 2025	9 mo	+0.03% points
69	Atul Limited equity	Chemicals & Petrochemicals	0.46%	Dec 2025	9 mo	−0.08% points
70	Affle 3i Limited equity	IT - Services	0.46%	Dec 2025	9 mo	0.00% points
71	Tata Chemicals Limited equity	Chemicals & Petrochemicals	0.46%	Dec 2025	9 mo	−0.12% points
72	Capri Global Capital Limited equity	Finance	0.45%	Dec 2025	9 mo	+0.07% points
73	Netweb Technologies India Limited equity	IT - Services	0.44%	Dec 2025	9 mo	+0.06% points
74	R R Kabel Limited equity	Industrial Products	0.44%	Dec 2025	9 mo	+0.11% points
75	Indian Energy Exchange Limited equity	Capital Markets	0.43%	Dec 2025	9 mo	−0.07% points
76	Deepak Fertilizers and Petrochemicals Corporation Limited equity	Chemicals & Petrochemicals	0.43%	Dec 2025	9 mo	−0.04% points
77	Finolex Cables Limited equity	Industrial Products	0.43%	Dec 2025	9 mo	+0.01% points
78	PG Electroplast Limited equity	Consumer Durables	0.43%	Dec 2025	9 mo	+0.05% points
79	Aditya Infotech Limited equity	Industrial Manufacturing	0.43%	Mar 2026	6 mo	+0.15% points
80	Motherson Sumi Wiring India Limited equity	Auto Components	0.42%	Dec 2025	9 mo	−0.07% points
81	Ola Electric Mobility Limited equity	Automobiles	0.42%	Dec 2025	9 mo	+0.01% points
82	Anant Raj Limited equity	Realty	0.42%	Dec 2025	9 mo	+0.03% points
83	Cyient Limited equity	IT - Services	0.42%	Dec 2025	9 mo	+0.04% points
84	CESC Limited equity	Power	0.42%	Dec 2025	9 mo	−0.15% points
85	Gabriel India Limited equity	Auto Components	0.41%	Mar 2026	6 mo	+0.07% points
86	Usha Martin Limited equity	Industrial Products	0.41%	Dec 2025	9 mo	−0.04% points
87	Inventurus Knowledge Solutions Limited equity	IT - Services	0.41%	Dec 2025	9 mo	0.00% points
88	NBCC (India) Limited equity	Construction	0.40%	Dec 2025	9 mo	−0.11% points
89	Castrol India Limited equity	Petroleum Products	0.40%	Dec 2025	9 mo	−0.04% points
90	Aptus Value Housing Finance India Limited equity	Finance	0.40%	Dec 2025	9 mo	−0.05% points
91	Belrise Industries Limited equity	Auto Components	0.40%	Mar 2026	6 mo	+0.08% points
92	PVR Inox Limited equity	Entertainment	0.39%	Dec 2025	9 mo	+0.05% points
93	Zee Entertainment Enterprises Limited equity	Entertainment	0.39%	Dec 2025	9 mo	−0.03% points
94	Jyoti CNC Automation Limited equity	Industrial Manufacturing	0.39%	Dec 2025	9 mo	+0.14% points
95	Firstsource Solutions Limited equity	Commercial Services & Supplies	0.38%	Dec 2025	9 mo	−0.03% points
96	EID Parry India Limited equity	Food Products	0.37%	Dec 2025	9 mo	−0.01% points
97	Zen Technologies Limited equity	Aerospace & Defense	0.37%	Dec 2025	9 mo	−0.01% points
98	eClerx Services Limited equity	Commercial Services & Supplies	0.37%	Dec 2025	9 mo	+0.07% points
99	Acme Solar Holdings Limited equity	Power	0.37%	Dec 2025	9 mo	+0.22% points
100	Jaiprakash Power Ventures Limited equity	Power	0.36%	Dec 2025	9 mo	−0.17% points
101	Nava Limited equity	Power	0.36%	Dec 2025	9 mo	−0.05% points
102	Force Motors Limited equity	Automobiles	0.36%	Dec 2025	9 mo	−0.12% points
103	Shyam Metalics And Energy Limited equity	Industrial Products	0.35%	Dec 2025	9 mo	+0.01% points
104	Aditya Birla Sun Life AMC Limited equity	Capital Markets	0.35%	Dec 2025	9 mo	−0.03% points
105	CCL Products (India) Limited equity	Agricultural Food & Other Products	0.35%	Dec 2025	9 mo	−0.02% points
106	Ramkrishna Forgings Limited equity	Auto Components	0.35%	Dec 2025	9 mo	+0.06% points
107	Syngene International Limited equity	Healthcare Services	0.35%	Mar 2026	6 mo	−0.06% points
108	IRB Infrastructure Developers Limited equity	Construction	0.34%	Mar 2026	6 mo	−0.07% points
109	Natco Pharma Limited equity	Pharmaceuticals & Biotechnology	0.34%	Dec 2025	9 mo	−0.11% points
110	Vijaya Diagnostic Centre Limited equity	Healthcare Services	0.34%	Dec 2025	9 mo	+0.03% points
111	Balrampur Chini Mills Limited equity	Agricultural Food & Other Products	0.34%	Dec 2025	9 mo	+0.05% points
112	BEML Limited equity	Agricultural, Commercial & Construction Vehicles	0.34%	Dec 2025	9 mo	+0.02% points
113	Cohance Lifesciences Limited equity	Pharmaceuticals & Biotechnology	0.34%	Dec 2025	9 mo	−0.01% points
114	HBL Engineering Limited equity	Industrial Products	0.34%	Dec 2025	9 mo	−0.12% points
115	Creditaccess Grameen Limited equity	Finance	0.34%	Dec 2025	9 mo	0.00% points
116	Garden Reach Shipbuilders & Engineers Limited equity	Aerospace & Defense	0.33%	Dec 2025	9 mo	−0.06% points
117	Jindal Saw Limited equity	Industrial Products	0.33%	Dec 2025	9 mo	+0.05% points
118	Engineers India Limited equity	Construction	0.33%	Dec 2025	9 mo	+0.02% points
119	Emami Limited equity	Personal Products	0.33%	Dec 2025	9 mo	−0.06% points
120	Aditya Birla Real Estate Limited equity	Realty	0.32%	Dec 2025	9 mo	0.00% points
121	Schneider Electric Infrastructure Limited equity	Electrical Equipment	0.32%	Dec 2025	9 mo	−0.07% points
122	Jubilant Pharmova Limited equity	Pharmaceuticals & Biotechnology	0.32%	Dec 2025	9 mo	−0.07% points
123	Rainbow Childrens Medicare Limited equity	Healthcare Services	0.32%	Dec 2025	9 mo	−0.02% points
124	Eris Lifesciences Limited equity	Pharmaceuticals & Biotechnology	0.32%	Dec 2025	9 mo	−0.06% points
125	CEAT Limited equity	Auto Components	0.32%	Dec 2025	9 mo	−0.02% points
126	Paradeep Phosphates Limited equity	Fertilizers & Agrochemicals	0.31%	Mar 2026	6 mo	+0.04% points
127	Cemindia Projects Limited equity	Construction	0.31%	Mar 2026	6 mo	+0.02% points
128	Poly Medicure Limited equity	Healthcare Equipment & Supplies	0.31%	Dec 2025	9 mo	+0.06% points
129	Triveni Turbine Limited equity	Electrical Equipment	0.31%	Dec 2025	9 mo	−0.11% points
130	Inox Wind Limited equity	Electrical Equipment	0.31%	Dec 2025	9 mo	−0.13% points
131	Pfizer Limited equity	Pharmaceuticals & Biotechnology	0.31%	Dec 2025	9 mo	−0.05% points
132	Can Fin Homes Limited equity	Finance	0.31%	Dec 2025	9 mo	−0.03% points
133	Choice International Limited equity	Finance	0.30%	Dec 2025	9 mo	+0.04% points
134	Chennai Petroleum Corporation Limited equity	Petroleum Products	0.30%	Dec 2025	9 mo	+0.05% points
135	Titagarh Rail Systems Limited equity	Industrial Manufacturing	0.30%	Dec 2025	9 mo	−0.03% points
136	The Jammu & Kashmir Bank Limited equity	Banks	0.30%	Dec 2025	9 mo	−0.01% points
137	Honasa Consumer Limited equity	Personal Products	0.30%	Dec 2025	9 mo	+0.03% points
138	Chalet Hotels Limited equity	Leisure Services	0.29%	Dec 2025	9 mo	+0.01% points
139	Emcure Pharmaceuticals Limited equity	Pharmaceuticals & Biotechnology	0.29%	Dec 2025	9 mo	+0.01% points
140	Reliance Power Limited equity	Power	0.29%	Dec 2025	9 mo	−0.10% points
141	Sumitomo Chemical India Limited equity	Fertilizers & Agrochemicals	0.29%	Dec 2025	9 mo	−0.01% points
142	Indegene Limited equity	Healthcare Services	0.29%	Dec 2025	9 mo	+0.03% points
143	Physicswallah Limited equity	Other Consumer Services	0.28%	Mar 2026	6 mo	+0.04% points
144	Welspun Living Limited equity	Textiles & Apparels	0.28%	Dec 2025	9 mo	+0.06% points
145	Go Digit General Insurance Limited equity	Insurance	0.28%	Dec 2025	9 mo	−0.08% points
146	Intellect Design Arena Limited equity	IT - Software	0.28%	Dec 2025	9 mo	−0.03% points
147	LT Foods Limited equity	Agricultural Food & Other Products	0.28%	Dec 2025	9 mo	+0.01% points
148	Whirlpool Of India Limited equity	Consumer Durables	0.28%	Dec 2025	9 mo	−0.03% points
149	TBO Tek Limited equity	Leisure Services	0.28%	Dec 2025	9 mo	+0.08% points
150	Mahanagar Gas Limited equity	Gas	0.28%	Dec 2025	9 mo	−0.03% points
151	Chambal Fertilizers & Chemicals Limited equity	Fertilizers & Agrochemicals	0.28%	Dec 2025	9 mo	−0.07% points
152	Heg Limited equity	Industrial Products	0.28%	Dec 2025	9 mo	+0.05% points
153	NCC Limited equity	Construction	0.27%	Dec 2025	9 mo	−0.04% points
154	Godawari Power & Ispat Limited equity	Industrial Products	0.27%	Dec 2025	9 mo	−0.08% points
155	IFCI Limited equity	Finance	0.27%	Dec 2025	9 mo	+0.05% points
156	Devyani International Limited equity	Leisure Services	0.27%	Dec 2025	9 mo	+0.04% points
157	Minda Corporation Limited equity	Auto Components	0.26%	Dec 2025	9 mo	+0.01% points
158	Vardhman Textiles Limited equity	Textiles & Apparels	0.26%	Dec 2025	9 mo	−0.03% points
159	Gravita India Limited equity	Minerals & Mining	0.26%	Dec 2025	9 mo	+0.01% points
160	Jubilant Ingrevia Limited equity	Chemicals & Petrochemicals	0.26%	Dec 2025	9 mo	−0.01% points
161	Sonata Software Limited equity	IT - Software	0.26%	Dec 2025	9 mo	+0.01% points
162	Urban Co Limited equity	Retailing	0.26%	Mar 2026	6 mo	+0.06% points
163	Sobha Limited equity	Realty	0.25%	Dec 2025	9 mo	−0.06% points
164	EIH Limited equity	Leisure Services	0.25%	Dec 2025	9 mo	−0.04% points
165	Gillette India Limited equity	Personal Products	0.25%	Dec 2025	9 mo	−0.08% points
166	PCBL Chemical Limited equity	Chemicals & Petrochemicals	0.25%	Dec 2025	9 mo	0.00% points
167	Sapphire Foods India Limited equity	Leisure Services	0.25%	Dec 2025	9 mo	+0.04% points
168	KEC International Limited equity	Construction	0.25%	Dec 2025	9 mo	−0.07% points
169	Jsw Dulux Limited equity	Consumer Durables	0.25%	Dec 2025	9 mo	−0.02% points
170	Indiamart Intermesh Limited equity	Retailing	0.24%	Dec 2025	9 mo	−0.07% points
171	NMDC Steel Limited equity	Ferrous Metals	0.24%	Dec 2025	9 mo	−0.01% points
172	Lemon Tree Hotels Limited equity	Leisure Services	0.24%	Dec 2025	9 mo	−0.04% points
173	Olectra Greentech Limited equity	Automobiles	0.24%	Dec 2025	9 mo	0.00% points
174	Zensar Technologies Limited equity	IT - Software	0.24%	Dec 2025	9 mo	−0.04% points
175	Central Bank of India equity	Banks	0.23%	Dec 2025	9 mo	+0.08% points
176	Zydus Wellness Limited equity	Food Products	0.23%	Mar 2026	6 mo	−0.01% points
177	Fertilizers And Chemicals Travancore Limited equity	Fertilizers & Agrochemicals	0.23%	Mar 2026	6 mo	−0.04% points
178	IDBI Bank Limited equity	Banks	0.23%	Mar 2026	6 mo	+0.03% points
179	Aavas Financiers Limited equity	Finance	0.23%	Dec 2025	9 mo	−0.03% points
180	Aadhar Housing Finance Limited equity	Finance	0.23%	Dec 2025	9 mo	−0.02% points
181	Aditya Birla Lifestyle Brands Limited equity	Retailing	0.23%	Dec 2025	9 mo	−0.04% points
182	Niva Bupa Health Insurance Co Limited equity	Insurance	0.23%	Dec 2025	9 mo	−0.02% points
183	CIE Automotive India Limited equity	Auto Components	0.23%	May 2026	4 mo	−0.05% points
184	Techno Electric & Engineering Co Limited equity	Construction	0.23%	Dec 2025	9 mo	−0.03% points
185	Caplin Point Laboratories Limited equity	Pharmaceuticals & Biotechnology	0.23%	Dec 2025	9 mo	+0.03% points
186	JM Financial Limited equity	Finance	0.22%	Dec 2025	9 mo	−0.03% points
187	Concord Biotech Limited equity	Pharmaceuticals & Biotechnology	0.22%	Dec 2025	9 mo	+0.05% points
188	Shipping Corporation of India Limited equity	Transport Services	0.22%	Dec 2025	9 mo	−0.02% points
189	Birlasoft Limited equity	IT - Software	0.22%	Dec 2025	9 mo	−0.04% points
190	Tenneco Clean Air India Limited equity	Auto Components	0.22%	Mar 2026	6 mo	0.00% points
191	Bayer Cropscience Limited equity	Fertilizers & Agrochemicals	0.22%	Dec 2025	9 mo	−0.07% points
192	Indian Overseas Bank equity	Banks	0.21%	Mar 2026	6 mo	−0.03% points
193	JK Tyre & Industries Limited equity	Auto Components	0.21%	Dec 2025	9 mo	−0.04% points
194	Graphite India Limited equity	Industrial Products	0.21%	Dec 2025	9 mo	−0.03% points
195	Gujarat Mineral Development Corporation Limited equity	Minerals & Mining	0.21%	Dec 2025	9 mo	−0.06% points
196	Tejas Networks Limited equity	Telecom - Equipment & Accessories	0.21%	Dec 2025	9 mo	0.00% points
197	Leela Palaces Hotels & Resorts Limited equity	Leisure Services	0.21%	Dec 2025	9 mo	+0.05% points
198	Sun TV Network Limited equity	Entertainment	0.21%	Dec 2025	9 mo	−0.03% points
199	Sarda Energy & Minerals Limited equity	Ferrous Metals	0.21%	Dec 2025	9 mo	−0.02% points
200	Action Construction Equipment Limited equity	Agricultural, Commercial & Construction Vehicles	0.21%	Dec 2025	9 mo	+0.03% points
201	Supreme Petrochem Limited equity	Chemicals & Petrochemicals	0.21%	Mar 2026	6 mo	0.00% points
202	Afcons Infrastructure Limited equity	Construction	0.20%	Dec 2025	9 mo	−0.06% points
203	Bata India Limited equity	Consumer Durables	0.20%	Dec 2025	9 mo	−0.01% points
204	Emmvee Photovoltaic Power Limited equity	Electrical Equipment	0.20%	Mar 2026	6 mo	+0.03% points
205	Bikaji Foods International Limited equity	Food Products	0.19%	Dec 2025	9 mo	−0.02% points
206	Brainbees Solutions Limited equity	Retailing	0.19%	Dec 2025	9 mo	−0.06% points
207	Swan Corp Limited equity	Chemicals & Petrochemicals	0.19%	Dec 2025	9 mo	−0.04% points
208	SBFC Finance Limited equity	Finance	0.18%	Dec 2025	9 mo	−0.01% points
209	Dcm Shriram Limited equity	Diversified	0.18%	Dec 2025	9 mo	−0.02% points
210	Doms Industries Limited equity	Household Products	0.18%	Dec 2025	9 mo	−0.01% points
211	Clean Science And Technology Limited equity	Chemicals & Petrochemicals	0.18%	Dec 2025	9 mo	−0.01% points
212	Aegis Vopak Terminals Limited equity	Oil	0.18%	Dec 2025	9 mo	+0.04% points
213	IRCON International Limited equity	Construction	0.18%	Dec 2025	9 mo	−0.04% points
214	Anupam Rasayan India Limited equity	Chemicals & Petrochemicals	0.17%	Mar 2026	6 mo	0.00% points
215	UTI Asset Management Co Limited equity	Capital Markets	0.17%	Dec 2025	9 mo	−0.03% points
216	Canara HSBC Life Insurance Co Limited equity	Insurance	0.17%	Mar 2026	6 mo	+0.03% points
217	Elecon Engineering Co Limited equity	Electrical Equipment	0.16%	Dec 2025	9 mo	−0.06% points
218	Pine Labs Limited equity	Financial Technology (Fintech)	0.16%	Mar 2026	6 mo	+0.03% points
219	Saregama India Limited equity	Entertainment	0.16%	Dec 2025	9 mo	+0.01% points
220	International Gemological Institute Limited equity	Commercial Services & Supplies	0.16%	Dec 2025	9 mo	−0.03% points
221	Newgen Software Technologies Limited equity	IT - Software	0.15%	Dec 2025	9 mo	+0.01% points
222	Transformers And Rectifiers India Limited equity	Electrical Equipment	0.15%	Dec 2025	9 mo	−0.02% points
223	JSW Cement Limited equity	Cement & Cement Products	0.15%	Dec 2025	9 mo	−0.01% points
224	Allied Blenders And Distillers Limited equity	Beverages	0.15%	Mar 2026	6 mo	0.00% points
225	Jupiter Wagons Limited equity	Industrial Manufacturing	0.15%	Dec 2025	9 mo	−0.04% points
226	Nuvoco Vistas Corporation Limited equity	Cement & Cement Products	0.15%	Dec 2025	9 mo	−0.02% points
227	Aditya Birla Fashion and Retail Limited equity	Retailing	0.14%	Dec 2025	9 mo	−0.02% points
228	Signatureglobal (India) Limited equity	Realty	0.14%	Dec 2025	9 mo	−0.02% points
229	Trident Limited equity	Textiles & Apparels	0.14%	Dec 2025	9 mo	−0.01% points
230	Mangalore Refinery & Petrochemicals Limited equity	Petroleum Products	0.14%	Dec 2025	9 mo	+0.01% points
231	Blue Jet Healthcare Limited equity	Pharmaceuticals & Biotechnology	0.14%	Dec 2025	9 mo	+0.06% points
232	Rites Limited equity	Construction	0.13%	Dec 2025	9 mo	0.00% points
233	BLS International Services Limited equity	Leisure Services	0.13%	Dec 2025	9 mo	−0.03% points
234	UCO Bank equity	Banks	0.13%	Mar 2026	6 mo	−0.01% points
235	Tega Industries Limited equity	Industrial Manufacturing	0.12%	Mar 2026	6 mo	−0.02% points
236	Blue Dart Express Limited equity	Transport Services	0.12%	Dec 2025	9 mo	−0.02% points
237	Bombay Burmah Trading Corporation Limited equity	Food Products	0.12%	Dec 2025	9 mo	0.00% points
238	ITI Limited equity	Telecom - Equipment & Accessories	0.12%	Dec 2025	9 mo	−0.02% points
239	The India Cements Limited equity	Cement & Cement Products	0.12%	Dec 2025	9 mo	−0.01% points
240	JBM Auto Limited equity	Auto Components	0.11%	Dec 2025	9 mo	−0.01% points
241	Travel Food Services Limited equity	Leisure Services	0.11%	Mar 2026	6 mo	0.00% points
242	Railtel Corporation Of India Limited equity	Telecom - Services	0.11%	Dec 2025	9 mo	−0.03% points
243	Rhi Magnesita India Limited equity	Industrial Products	0.10%	Dec 2025	9 mo	−0.02% points
244	Jain Resource Recycling Limited equity	Diversified Metals	0.09%	Mar 2026	6 mo	−0.01% points
245	Latent View Analytics Limited equity	IT - Software	0.09%	Dec 2025	9 mo	−0.03% points
246	Tata Teleservices Maharashtra Limited equity	Telecom - Services	0.09%	Dec 2025	9 mo	−0.02% points
247	Prime Focus Limited equity	Entertainment	0.09%	Jul 2026	2 mo	+0.09% points
248	TREPS / cash equivalents TREPS / Reverse Repo Investments · money market	—	0.09%	Dec 2025	9 mo	−0.08% points
249	CE Info Systems Limited equity	IT - Software	0.08%	Dec 2025	9 mo	+0.01% points
250	Gallantt Ispat Limited equity	Industrial Products	0.08%	Mar 2026	6 mo	−0.02% points
251	MMTC Limited equity	Commercial Services & Supplies	0.04%	Dec 2025	9 mo	−0.01% points
252	TREPS / cash equivalents Net Receivables/Payables · cash equivalent	—	-0.01%	Dec 2025	9 mo	+0.04% points

Showing 1–252 of 252 rows per page10 25 50all

Largest sectors, Aug 2026

Finance9.6%

Pharmaceuticals & Biotechnology8.5%

Industrial Products7.7%

Auto Components6.8%

Capital Markets5.9%

Chemicals & Petrochemicals5.8%

Banks5.3%

Healthcare Services4.4%

share of the book05%10%

By market cap, Aug 2026

Large cap0.6%

Mid cap11.7%

Small / micro cap80.8%

Cash & equivalents0.1%

Not classified6.8%

share of the book025%50%75%100%

"Not classified" is what no cap tier could be inferred for — newly listed names, or lines without an ISIN.

Composition by market cap, month by month — what the fund actually held against what its label says

Large cap 1%
Mid cap 12%
Small / micro 81%
Cash & other 0%

The seven checks, in full

each: the plain claim, where it sits in the category, and — folded — how it is measured and the case against. A flag fires only where headline and record disagree.

P4 Consistency, not a single end date

Not measurable yet. Needs at least three years of month-end NAV and a category median; not computed for this fund yet.

What this means. Take every three-year stretch since the fund had a NAV, one starting each month, and ask two things of each: did it beat the typical fund in its category, and by how much. Counting the wins tells you the record does not depend on when you happen to look; averaging the margin tells you whether winning often was worth anything, because four small wins do not pay for one large loss.

Why this matters: Can a fund beat its category most of the time and still be behind? 7 min

How it is measured, and the case against

A fund that beats its category in most rolling three-year windows has a record; one that beats it in a few has an end date. How often it won and by how much are different questions, and this card answers both, because a fund can win four windows in five and still be behind across all five.

How often has it beaten its category, across every window?

Why this might matterRolling every three-year window forward month by month gives hundreds of overlapping observations instead of one. A single end date decides a headline five-year figure; the share of windows won cannot be flattered by when you happen to look. The average margin across every window is that share and the payoff multiplied together — win share x average beat plus loss share x average shortfall is exactly the average — so a high share bought with a few ruinous windows cannot hide behind the count.

Why it might notRolling windows overlap heavily, so they are not independent observations and the true sample is far smaller than the count suggests — the card says how many non-overlapping windows the same span holds, and it is usually a handful. A fund that changed manager or mandate carries a record that is only partly its own. The average margin is only as meaningful as the category: where a category is a grab bag (“Other ETFs” holds gold beside equity), a large shortfall says the comparison is wrong, not that the fund is. And none of this forecasts: our own study found the share of windows won does not predict the next three years, and weighting it by payoff gives no reason to think otherwise.

P5 Cost, measured

Not measurable yet. Needs a Direct and a Regular growth class with overlapping NAV history.

What this means. The Regular and Direct plans hold the same portfolio; the Regular one pays a distributor out of your money every day. The gap between the two NAVs is that cost, measured from the NAVs rather than quoted from a document.

Why this matters: What does a Regular plan actually cost? 6 min

How it is measured, and the case against

The Direct plan is the same portfolio, priced differently; the divergence of the two NAVs is the cost, measured rather than quoted.

What does the Regular plan actually cost against its Direct twin?

Why this might matterSame manager, same holdings, same day. The gap between the two NAV series is the one number on this page that is knowable today rather than hoped for, and it compounds for as long as the units are held.

Why it might notA Regular plan buys advice. If that advice stops someone selling in a drawdown it can be worth more than the fee — the cost is visible and the behavioural saving is not, which makes this comparison unfair in exactly one direction.

P1 Churn, and what it bought

Turns over 72% of the portfolio a year

What this means. How much of the portfolio was bought and sold in a year, computed from what the fund disclosed each month. Trading costs something certain; the extra return it is meant to buy is not.

Why this matters: What does a monthly portfolio not tell you? 6 min

72% a year

costliest in categorycheapest in category

16th percentile · bottom quartile of 158 funds · category median 43%

excess return per unit of turnoverneeds the category 1-year median — not computed yet

How it is measured, and the case against

Turnover measured from consecutive disclosures — Σ|Δweight|/2 — costs something certain; the excess return it is meant to buy is not.

Is the trading paying for itself?

Why this might matterAMCs define their own turnover figure inconsistently. This one is computed from what the fund disclosed month to month, so two funds are comparable on it. Read it beside the excess return per unit of turnover.

Why it might notTurnover computed from month-end snapshots misses everything bought and sold inside a month, and a fund forced to sell by redemptions is charged for churn it did not choose.

P2 Conviction or inertia

Typical top-10 holding kept 9 months

What this means. How long a typical top-10 position has been in the top ten. Long-held positions are a decision; a top ten that changes every quarter is a reaction.

9 months

lowest in categoryhighest in category

19th percentile · bottom quartile of 160 funds · category median 27 months

active sharenot yet computable — needs index constituent files

How it is measured, and the case against

The median months a top-10 position has been held separates a portfolio somebody chose from one that drifted.

How long does a top-10 position stay a top-10 position?

Why this might matterConcentration is how a manager expresses conviction, and persistence is how long they keep it. Long-held positions with a rising weight are a decision; a top ten that turns over every quarter is a reaction.

Why it might notPersistence without active share is inertia: a portfolio of 166 names that tracks its category closely has diversified away the reason to pay for it. Active share needs index constituent files, which are not loaded yet.

P3 Hit rate of the top ten

8 of 10 top picks beat their peers over the next 6 months, and averaged 16.7 percentage points ahead of them

30 positions judged, one disclosure at a time · ahead by 25.4 percentage points when it won, behind by 12.2 when it lost

What this means. Take each month's ten largest holdings and check whether each one beat the typical stock its category holds over the next six months, and by how much. A blended return can hide two wins and eight losses; a count of wins can hide one position that lost half its value.

How often, and by how much. The count and the average agree. Ahead by 25.4 percentage points in the 23 positions it won and behind by 12.2 in the 7 it lost, so the average across all 30 is +16.7 percentage points. The worst position was INE531E01026 at the Jan 2026 disclosure, 29.5 percentage points behind.

Why this matters: Can a fund beat its category most of the time and still be behind? 7 min

77%

lowest in categoryhighest in category

95th percentile · top decile of 145 funds

positions judged30beat the median stock23average across every position+16.67% points · median +14.47when ahead, by how much+25.45% points over 23 positionswhen behind, by how much−12.17% points over 7 positionsworst position−29.46% points, INE531E01026 at the Jan 2026 disclosurebest position+82.87% points, INE947Q01028 at the Jan 2026 disclosure

How it is measured, and the case against

A manager's largest bets, judged one by one over the following six months, say more than the fund's blended return — and how far each one beat or missed the median stock says more than counting how many did.

Of its top-10 positions, how often did they beat the category-median stock?

Why this might matterA fund can beat its category on two positions and lose on eight; the hit rate shows the pattern the aggregate hides. The average margin then shows what the hit rate hides in turn: six winners worth a point each do not pay for four losers worth ten, and only the margin says which happened.

Why it might notSix months is short, sizing matters more than counting, and a manager who is right on the biggest position and wrong on nine small ones has done their job — the margins here are unweighted, so they answer the counting question better, not the sizing one. Overlapping disclosures judge the same position again each month it is held, so one long-held winner is counted many times. And this is a description of six months already past, not a forecast of the next six.

P6 Size against edge

₹8 Cr, 12th percentile in category; 67% of growth came from inflows

smaller than 88% of the funds in its category (160 funds) · AUM Dec 2025 → Aug 2026 · Regular plan expense ratio 0.00%

What this means. Where the fund sits by size in its category, and how much of its growth was money arriving rather than the portfolio compounding. A very large fund cannot buy what a small one can; size should buy a lower fee in return.

12th percentile by AUM

largestsmallest

88th percentile · top quartile of 160 funds

expense ratio, Regular / Direct0.00% / 0.25% · category median 0.16%AUM, Dec 2025 → Aug 2026₹6 Cr → ₹8 Crof that change, from flows rather than returns67% net inflows · NAV +11% over the window

Assets under management, ₹ crore, Dec 2025 – Aug 2026

9 points · months without a factsheet figure use AMFI's quarterly average · Regular-plan expense ratio 0.00% in Dec 2025 → 0.00% in Sep 2026

How it is measured, and the case against

Past a certain size the smaller end of a mandate becomes unreachable, and the fund starts to look like its index; what size should buy in return is a lower expense ratio.

Has the fund outgrown the universe it invests in — and did size buy a lower fee?

Why this might matterSize narrows what the manager can meaningfully hold and should lower what the investor pays. Read the AUM history beside the expense ratio: a fund that has tripled through inflows while its Regular-plan TER sits above the category median has kept the benefit of scale for the house. The flow decomposition says how much of the growth was money arriving rather than the portfolio compounding.

Why it might notScale funds research teams, and plenty of large funds have gone on compounding for decades. Inflows follow performance, so a fund growing fast is usually one that did well; the constraint is real but not automatically binding, and a TER is a ceiling the AMC can cut at any time.

P7 Whose record is this headline and record disagree

Run by Anil Ghelani for 9 mo

with Diipesh Shah, Neha Rathi

What this means. How long the people running it now have been running it, read from the monthly factsheets. A five-year record earned under someone else is not evidence about these managers.

Why this matters: Whose record is the three-year number? 5 min

9 mo · Anil Ghelani

newest teamlongest-serving

28th percentile · below median of 123 funds · category median 1.5 yrs

running it nowAnil Ghelani (since Dec 2025), Diipesh Shah (since Dec 2025), Neha Rathi (since May 2026)share of the fund's life under the longest-serving current manager90%changes of hands in the archive1 — last May 2026

Who ran it, month by month · factsheets through Sep 2026

running it nowearlier

Manager	Role	From	To	Fund vs category, those months	3-yr stretches won in tenure
Anil Ghelani	fund manager	Dec 2025*	now	10.8% vs −1.9% (+12.73% points)	—
Diipesh Shah	fund manager	Dec 2025*	now	10.8% vs −1.9% (+12.73% points)	—
Neha Rathi	fund manager	May 2026*	now	10.3% vs 3.4% (+6.83% points)	—

* dated by first appearance in the archive we hold, not by a date the factsheet printed. Co-managed months count for every manager named; a factsheet names the manager of record, not who made each call. All managers →

The 5-year record predates everyone currently running it. The longest-serving manager on this scheme has been in place about 0.8 years, against a 5-year figure on display. Neha Rathi joined roughly 0.4 years ago. A record earned under different people is not evidence about these ones.

How it is measured, and the case against

A record earned under different people is not evidence about these ones.

Does the displayed record predate the people running it?

Why this might matterA five-year figure on a fund whose longest-serving manager joined two years ago is the house's record more than the person's. The tenure here comes from what each monthly factsheet named, so a change of hands is dated to the month it was disclosed, and the fund's return against its category can be read over exactly those months.

Why it might notFund houses have processes, research desks and mandates that outlast individuals, so a manager change is not a reset. It does mean the displayed record is the house’s more than the person’s.

Tracking gap

the NAV the fund published, against the NAV its last disclosed portfolio would have produced at each day's prices

No signal. Replication needs a fully disclosed domestic-equity portfolio and daily prices for every line; this fund has not been replicated in this build.

Share classes

latest NAV per AMFI code

Plan	Option	NAV	Date
regular DSP Nifty Smallcap 250 ETF	—	₹18.39	21 Sep 2026

The Direct / Regular gap, in money

This fund does not have both a Direct and a Regular growth class in the data, so the gap cannot be measured.

A Regular plan buys advice. The fee is visible and the behavioural saving is not; both are shown, neither is netted off.

Compare with

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