Canara Robeco Small Cap Fund — Deep Analysis, NAV, Returns, Risk

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Fund Overview

Canara Robeco Small Cap Fund — Quick Summary

Canara Robeco Small Cap Fund is one of India's oldest and most respected small cap mutual funds, launched in September 2009. Managed by R. Srinivasan, Head of Equities at SBI MF, it has built a stellar 15-year track record by investing in quality small cap businesses ranked 251st and beyond by market capitalisation as defined by SEBI.

Fund House

Canara Robeco Mutual Fund

✓ Suitable For

✓Cost-conscious investors wanting active small cap exposure at low cost (0.54%)

✓Investors who appreciate ESG-integrated investing with global research backing

✓SIP investors with 7+ year horizon who prioritise quality businesses

✓Those wanting a mid-sized fund with more deployment flexibility than giant AUM peers

✗ Not Suitable For

✗Investors expecting aggressive momentum returns — this is a quality-conservative approach

✗Anyone who needs money within 3–5 years — small caps can be down for years

✗Investors who panic sell — 40–50% crashes are normal in this category

✗Those making it their only fund — concentration in small caps is dangerous

Who Runs This Fund

Fund Manager

SG

Shridatta Bhandwaldar

Head of Equities & Fund Manager, Canara Robeco Mutual Fund

Managing Since

2013

Experience

25+ Years

Funds Managed

4 Funds

Total AUM

₹45,000 Cr+

Known for his bottom-up stock picking approach and patience with small cap positions. Has navigated the fund through multiple market cycles including the 2018 NBFC crisis and 2020 COVID crash.

Fund History

Key Moments in Fund's Life

March 2019

🚀 Fund Launch

Canara Robeco Small Cap Fund launched in March 2019 — relatively recently compared to most peers. It benefited from SEBI's 2018 recategorisation, which created clear guidelines for what constitutes a small cap fund.

2019 — 2020

📉 Launched Into Headwinds

The fund launched during the tail end of a small cap bear market. Early investors faced immediate losses as small caps continued falling through 2019 and into the COVID crash of 2020.

March 2020

💥 COVID Crash

Barely a year old, the fund faced its first major crisis. NAV fell sharply. However, this also created the opportunity to deploy SIP flows at very low valuations — setting up strong future returns.

2021 — 2022

🏆 Outstanding Returns From Low Base

Having deployed capital at COVID lows, the fund delivered exceptional 2-year returns. Its shorter history meant the 3-year return figure became one of the best in category as the low COVID base was included.

2022 — Present

📊 Building Track Record

The fund has consistently maintained strong risk-adjusted returns. Its low expense ratio of 0.54% has been a genuine advantage, contributing meaningfully to net returns versus higher-cost peers.

2024

👑 Robeco Framework Integration

Canara Robeco has progressively integrated Robeco's global quantitative and ESG research into Indian small cap selection — a differentiator that few Indian fund houses can claim.

What They Don't Tell You

The Dark Chapters

Every fund has painful periods. Here's an honest look at when Canara Robeco Small Cap struggled — because understanding this is crucial before investing.

2019 — 2020 · Bad Launch Timing

Launched at the Wrong Time

Canara Robeco Small Cap Fund had the misfortune of launching in March 2019 — into a small cap bear market that had already been running for a year. Early investors faced losses for over 12 months before the COVID crash made things worse. The 1-year return from launch was deeply negative, testing investor conviction severely.

First year return: Negative

March 2020 · 6 Weeks

COVID Crash — Young Fund Under Pressure

At just 1 year old, the fund had limited track record when COVID hit. Investors who had suffered losses since launch now faced an additional 35–40% decline. Many first-time investors in this fund likely exited, missing the subsequent recovery.

~38% drop in 6 weeks

Short Track Record Risk

Limited Multi-Cycle History

Unlike SBI, HDFC or Franklin which have 15+ year histories across multiple full market cycles, Canara Robeco Small Cap has only been running since 2019. Its strong recent performance may partly reflect the favourable market environment rather than all-weather fund quality. Time will tell.

Track record: Only 6 years — limited cycle data

Structural Risk · Always Present

Parent Company Complexity

Canara Robeco is a joint venture between Canara Bank (a public sector bank) and Robeco (a Dutch asset manager). JV structures can sometimes create governance complexity. Any disagreement between the two parents could impact the fund house's stability and management continuity.

Risk: JV governance structure

⚠️ Educational Disclaimer: The dark chapters above are presented for educational awareness only. Past difficulties do not predict future performance. RightAdvise.com is NOT a SEBI/AMFI registered advisor. Please consult a qualified financial advisor before investing.

Performance

Returns vs Benchmark

1 Month

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Nifty SC: —

3 Month

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Nifty SC: —

6 Month

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Nifty SC: —

1 Year

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Nifty SC: —

3 Year CAGR

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Nifty SC: —

5 Year CAGR

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Nifty SC: —

10 Year CAGR

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Nifty SC: —

Since Inception

—

Sep 2009

Price History

NAV History

Consistency Analysis

Rolling Returns ℹ️ What is this?

Rolling returns show how the fund performed across every possible investment period — not just one cherry-picked date. This reveals true consistency. Learn more →

1Y Rolling (Avg)

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% of times positive: —

3Y Rolling (Avg)

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% of times positive: —

5Y Rolling (Avg)

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% of times positive: —

1-Year Rolling Returns Each point = 1yr return from that date

Risk Analysis

Maximum Drawdown ℹ️ What is this?

Drawdown shows the biggest fall from peak NAV. This is what investors actually experience during market crashes. Learn more →

Max Drawdown Ever

—

Recovery time: —

2020 Covid Crash

-40.2%

Recovery: 14 months

2018 IL&FS Crisis

-28.6%

Recovery: 24 months

Current from Peak

—

Peak NAV: —

Drawdown Chart % fall from rolling peak NAV

Valuation Signal

NAV vs 200-Day Moving Average

When NAV is above 200 DMA, the fund is in an uptrend. When below, it signals caution. Many investors use this as a simple entry/exit signal.

Current NAV

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200 DMA

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NAV vs DMA

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Loading signal...

NAV vs 200 DMA

Risk Metrics

Risk Ratios

Alpha (3Y)

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Excess return over benchmark. Higher is better.

Beta (3Y)

—

Volatility vs market. >1 means more volatile.

Sharpe Ratio

—

Return per unit of risk. >1 is considered good.

Sortino Ratio

—

Like Sharpe but only penalises downside risk.

Std Deviation

—

How much returns fluctuate. Lower = more stable.

R-Squared

—

How closely it tracks the benchmark index.

Benchmark Comparison

Fund vs Nifty Smallcap 250

₹1 Lakh invested — Growth comparison

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