Is it a Good Time to Invest in Small Cap Funds? When to Buy and Sell Small Caps? An ETMONEY Study

Small Cap Funds are the most misunderstood of major mutual fund categories. In this video, ETMONEY’s Shankar Nath and Tata Mutual Fund’s Mr. Chandraprakash Padiyar, help you decode the small cap funds. They tell you everything you need to know before investing in small cap funds.
Topics covered in this video:
00:00 Introduction
01:07 Definition of small caps
03:30 How have small caps performed?
06:56 Are small cap funds risky?
08:37 When to enter and exit small cap funds?
12:28 Is now the right time to invest in small cap funds?
16:28 ETMONEY's Opinion
👉 What are Small Caps?
In this section, we talk about how there was no clear definition of small cap prior to 2018 and how it has changed after 2018. Prior to 2018, there was no consistent definition which probably means that comparing two large cap, two mid cap or two small cap funds might have some irregularities. In that context, it will be better to give a fund’s more recent performance a higher consideration than its 5 or 7-year performance
The large universe of companies that the small cap fund managers have to work on. With over 5,000 listed companies on the Indian stock exchanges, it seems a little unfair how companies have been divided between large, mid, and small companies.
There are 100 large cap companies, 150 mid cap companies and 5,000 small cap companies. And while most of these 5,000 small caps are not investible, to choose 30-40 small caps from such a big universe of companies makes stock picking or active fund management a very important skill.
👉 How have small caps performed?
Here we talked about the performance of the Nifty small cap 100 index in the last 13 years. The Nifty Small Cap 100 index touched the 6,000 mark in January 2008. Today it stands at around 5,700. On the outside, it looks flat but when we look at the performance more closely it tells a different story.
The small cap index grew sharply between 2004 and 2007. Then in 2008, the index fell by 72% which wiped off 80% of the gains made in the preceding 4 years. And then there was a second bull run from 2009 until 2017. When the small cap index grew by over 400%. In 2018 - small caps had a correction and in the last three years have lost almost 40% in value.
Indices across market caps take a meandering course over many years which are a function of multiple things like earnings growth, overvaluation, undervaluation, bull markets, sentiments, etc. If one can manage the drawdown periods, small caps offer some strong periods of substantial wealth appreciation with annualized returns often crossing 20%.
👉 Are small cap funds risky?
In this section, we talked about how investing in small cap funds when the time is most opportune not only keeps your risks low but also improves your chances of making high returns.
We also talk about liquidity risk. Liquidity risk refers to times when the fund manager finds it difficult to sell some stocks which have an adverse effect on performance or on honoring redemption commitments. In the small cap companies, generally, the amount of free float or public shareholding is much lower than large cap funds
👉 When to enter and exit small caps?
In this section, we discuss that an investor should invest when small caps are undervalued and exit when small caps are overvalued. We also talk about how the PE ratio and Relative valuation help you in knowing if the markets are undervalued or overvalued.
👉 Is now the right time to invest in small caps?
The PE Ratio and the relative valuation of small caps in comparison to large caps, both indicators seem to suggest that presently small caps are relatively undervalued. Hence, it makes sense to invest in them at the current moment. Mr. Padiyar discussed a few key pointers to understand the direction of smaller companies in today’s environment.
👉 ETMONEY Opinion
For us, small cap funds are tactical plays. If the conditions are suitable, it makes perfect sense to invest in small caps. And when the conditions go bad, then an investor should have the resourcefulness to exit small caps.
In this section, we looked at what those conditions are and how to identify whether it is the right time to enter or exit small cap funds. Additionally, since small cap funds tend to have periods of massive gains and massive falls - it is advisable to dedicate a small portion of your portfolio towards small caps.
Overall, the small cap funds are an important part of every investor’s portfolio and can be used intelligently to make above-average portfolio returns through smart and calculative investing.
#SmallCaps #SmallCapFunds #ETMONEY
👉 To invest in Direct Plans of top Mutual Funds for free, download the ETMONEY app: etmoney.onelink.me/unJQ/5ca1ae3b
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[@ETMONEY]

Explore the ratings, rankings, risk scores, consistency meter, AUM, expenses and returns (in lumpsum and SIP mode over many years) of over 20+ small cap mutual fund schemes on ETMONEY at www.etmoney.com/mutual-funds/equity/small-cap/36 Check out the latest Nifty Small Cap Index values at www1.nseindia.com/products/content/equities/indices/historical_total_return.htm

[@alalaRajesh]

Dear Etmoney,,why I can't pay upi payments,please allow me to upi transactions.

[@parthapratimroy8282]

Make a video about tata mutual fund on 1year term

[@saahil44]

Is it worth to do a monthly SIP investment of INR 5500 in Axis small and mid cap fund for 23 yrs for retirement ? Will it give good return?

[@pramilaramani4543]

First of 1st May 2021: is it a good time to invest in small cap MFs? Thanks

[@derrysam1990]

Hello guys- thanks for video. Is there a link to get the relative index between Nifty small cap and Nifty 50 indices? Like u have shown i n the video? Thanks in advance

[@davesa3457]

The presenter himself is so assuring and trust worthy. Great work ET money team 👏🏻

[@ETMONEY]

Thank you very much Dave SA

[@RRPROD15]

No

[@koushikdas9936]

You added Hindi subtitles. It shows the amount of effort that you guys put it. Really appreciate such high quality free education ❤️

[@ETMONEY]

Thanks! It helps more people and made sense to have them

[@upendrakumarpanda1581]

Excellent !! Looking for some more content on Midcap Funds

[@ETMONEY]

Yes, our research team is working on more categories and beading together data, strategies and actionable content for our viewers. Thanks for your appreciation!

[@stormshadow0808]

Beautifully explained. Really like the presentation pace and content. Kudos to Mr. Nath and team!

[@rhythmsaidha]

Another great video, thanks Shankar and ETMoney! I like the fact that you guys take the time and effort to present information based on data (your graphs are insightful) as well as looping in expert opinion to back it up (Mr Padiyar is a well known figure). Thank you and please continue the good work!

[@ETMONEY]

Thank you, Rhythm. We learn a lot in these fund manager interactions and have started active threads with research/data teams within AMCs which gives us even more perspectives. Glad you are enjoying the content

[@swatichauhan8032]

Where everyone is scared of investing in small cap and most advisors scare people from small cap funds. There is this man who takes the chance and researches on how to overcome fear by doing good analysis and book profits.

[@PANKAJKUMAR25]

Really appreciate the efforts taken to educate the public. Special thanks to Mr. Padiyar for a realistic opinion of profit booking when valuations are stretched. I was wondering if the methodology for doing the analysis of relative PE b/w Nifty 50 and Nifty Small 250 could be kept in a small spreadsheet in the description. That would be helpful

[@smit9803]

Hey, By any chance did you figure out the calculation of relative valuation?

[@saikathbose8120]

Loved this! Very well explained! Especially the valuations portion.. learnt something new with this

[@ETMONEY]

Thank you Saikath Bose. Glad you found the content helpful!

[@payalagarwal1083]

Very well researched and presented. Above all it’s reliable. Thanks guys

[@ETMONEY]

Much appreciated Payal Agarwal. Yes, we're enjoying bringing these content pieces & realise that teaching is perhaps the best form of learning. What also helps is a lot of participation from our viewers in the form of comments which starts new discussions. Thx!

[@rampadapatra7934]

Hii payel.... remember me

[@HoneyBadgerz]

Quality of the content is really good, not sure why it has so less views!!

[@ETMONEY]

Thx. Do share it with your friends on whatsapp and Facebook to spread the message

[@ramsankarchandrasekar8959]

Excellent strategic video, as always. Please give us knowledge on where to find historical the P/E ratios and the relative performance of small cap funds, so that we can cross verify it before stepping in and stepping out of investment. I find now that the P/E ratios of many small cap funds are currently around 20 to 25 and I am not sure whether it is high or low compared to historical values. In one of your slides in this video, you have shown historical P/E Values. However, since the y axis is not labelled with any units I am not sure whether it denotes the absolute PE values or a relative percentage. I would really appreciate if you could answer this query.

[@jeevajasmiine]

Well researched & very well presented. This is first video which I have seen which has given very much useful information about the small indices itself. Congrats for your hard work.

[@ETMONEY]

Thank your very much Jasmiine Jeeva. We've replied to your quandry in the AXIS overperformance video too, do have a look.

[@jeevajasmiine]

@@ETMONEY Thank you, let me share this video to my friends group.

[@sandeeppatil818]

Really informative n very useful..we always used to wait for new informative video in order to take further action...

[@ETMONEY]

Thank you Sandeep Patil. Happy to know that our studies are being used in improving one's investing strategy. Many years of investing has shown us that there is no silver bullet. We learn, invest, make some mistakes, learn a little more .. and the cycle continues. What's really helping us is simply talking to as many stakeholders (customers, investors, fund managers, academicians etc.) as possible without any biases, and filtering out the most usable information. Thanks for your appreciation!

[@sharadahire5415]

Excellent. This is why small investors should take flexicap funds of multicap funds route to enjoy fruits of small cap. It is as simple as that.

[@ETMONEY]

Thanks!

[@lakshminarasimhannarasimha1338]

Shankar Nath, your presentation, delivery, clear tone, smiling face makes the video worthy

[@ETMONEY]

Thank you very much :)

[@win289]

One of the rarest and genuine presenter.. thanks a ton

[@ETMONEY]

So nice of you. Thank you very much Vinayak More.

[@jaideepnegi5792]

nice video, well organized and point to point ....thank you ETMoney

[@AmandeepSingh-ji1lt]

Amazing video with clearly defined all parameters. Such videos on all categories of mutual will be appreciated.

[@ETMONEY]

Thank you Amandeep Singh. Glad you liked it

[@abhishekpardeshi9313]

1st like than watch video & I m already using ET Money App for mutual fund & trust me it's very good & Simple For use I m loving it 😊😊

[@ETMONEY]

Same here. We too liked your comment and then loved it. Thank you for your continued patronage. There is a lot more coming up on ETMONEY

[@bijaya1989]

Excellent form of journalism. Thorough knowledge on the subject and way of presentation is very impressive. Good job done by ET money.

[@ETMONEY]

Thank you very much Bikram Chatterjee

[@nkk2963]

No other Channel provides so much in-depth knowledge as ET Money. I always look forward to new video from ET Money. This is incredible !!

[@ETMONEY]

Much appreciated Neeraj Khurana. Thanks!

[@rahulmanohar411]

Shankar Nath is an excellent presenter . Very good work by the entire team

[@ETMONEY]

Thank you for your appreciation, Rahul Manohar

[@sanjibdutta8476]

Thanks, good one. It would have been even better if there is comparative study of some small cap funds.

[@narayankannan9679]

Great video sir but a few points of divergence - is it possible for a mutual funds investor to track P/E ratio and take steps reg their investment or is it the fund manager who needs to manage their portfolio between stocks and cash based on valuation ? Further P/E ratio by itself shouldn’t be seen as a valid measure because even at “high” levels, if a re rating of the economy is expected, that high PE may not be high actually

[@lakshmimaha7153]

You just earned a new subscriber .. well presented

[@ETMONEY]

Thank you

[@appdev4861]

Very nicely explained with good technical content. U have added some new perspectives, not commonly found in other sites. 👌👍

[@ETMONEY]

Thank you so much 🙂

[@AmitGupta-fp2tl]

First etmoney video with good knowledge

[@ETMONEY]

Thank you Amit Gupta

[@shubhambhargava8463]

Always a treat to hear from you Shankar sir

[@ETMONEY]

Thank you Shubham. Good to catchup.

[@sumitmakhija9979]

Good analysis. Just subscribed your channel after watching complete video. But I personally prefer etf investing much better than mutual funds .

[@ETMONEY]

Thank you Sumit Makhija for your appreciation and for subscribing to the ETMONEY channel

[@jayeshkhara1425]

Very important knowledge regarding profit booking in smallcap fund Thanks

[@barunchatterjee1223]

Excellent presentation sir, one thing is very clear, if u can take risk and don't require immediate money then go for horizon at least 7 years for SC

[@barunchatterjee1223]

@@ETMONEY definitely sir, it's true.

[@divyanshimaheshwari1351]

I really liked the presentation. I would want you to make more fund specific video how to properly compare diff funds

[@jaiboyjacob3647]

Very good information explained in a very nice and pleasing manner with great confidence. Thank you and keep it up. Hope to see more similar videos from you.

[@ETMONEY]

Thanks a lot. Much appreciated.

[@pushkarmarathe6552]

Very nice video. Simple language with ample justification to the points.

[@ETMONEY]

Thanks!

[@Puneet144]

Good videos. Liked the way you present and the refreshing ideas. Thank you

[@ETMONEY]

Much appreciated Puneet Kapoor. Do subscribe to the ETMONEY channel for timely alerts and notifications. We have a lot more coming up

[@riteshjaiswal4290]

Yes, Shankarji we are waiting for the next

[@ETMONEY]

Definitely Riteshji. Thx for your patronage over the years.

[@abilashreddyg]

Thanks so much for the informative video. Very helpful for retail investors such as myself. I probably didn't understand the ratio calculation very well but I understood the gist. Could you please let me know your view on entering the small cap markets today when the NIFTY 250 small cap PE is 41 ( relatively low because I saw PE numbers of 80 and 100 when you mentioned the small caps were overvalued in your video). But the second indicator in your video shows us that the small cap has relatively grown 30% faster than the Nifty 50 in the last year.

[@santanurakshit6690]

Every video has very high quality content.

[@ETMONEY]

Thank you!

[@dinzakas]

This video provides great value in small cap investing, importantly in short time.

[@ETMONEY]

Thank you

[@seepakraj94]

U just earned new subscriber.very well presented..We like it..

[@ETMONEY]

Thank you very much

[@Gopikrishna2000]

I generally don't comment on a video but this video is so much informative n good, i wish I saw this before investing btw invested in 2 small caps

[@ETMONEY]

Glad it was helpful! Thank you for your kind appreciation And pls comment more .. it's what keeps content creators moving ahead. We spend 4 man-days to create a 15 minute video. Some people fail to recognize that and often pick out mistakes or troll. We'll not go into the why of that .. and frankly, the mind has learnt to block out such nuisances. But sincere appreciation lifts the mind and pushes us to do more and do better. Thanks again.

[@ganeshseshan2618]

Very nice video on Small caps. Your insights, data are much appreciated. Please do some videos on recent high performances of Large and Mid caps, Flexi Caps etc.

[@ETMONEY]

Thank you very much

[@vgupta4760]

Great Video!! Looking forward to an update on this topic in 2023.

[@vda7649]

How do we calculate the 1.10x relative valuation for deciding exit timing for small cap index ?

[@smit9803]

Hey, By any chance did you figure out the calculation of relative valuation?

[@sharadjindal718]

I appreciate for your efforts to make such a good video. Thanks a lot

[@ETMONEY]

Thank you very much

[@nitinsadana]

Thank you for the video. However can you please detail out how do we calculate the relative valuations? Was that a P/E ratio of nifty small cap 250 vs p/e ratio of nifty 50?

[@smit9803]

Hey, By any chance did you figure out the calculation of relative valuation?

[@BharatVibes.]

👌 excellent presentation......u just got a subscriber. Good job

[@ETMONEY]

Thanks and welcome aboard!

[@manindermann8164]

kindly advise a fund that invest in emerging multibagger stocks only

[@raghushet5644]

Great to hear you always sir

[@ETMONEY]

Same here, Raghu Shet. Thanks for the comment.

[@kalpeshpathare4598]

Very informative video. Thanks Shankar once again. I really like the ET money app. Would like to see these features as well in the app. I guess your team must be already working on this :) .

[@ETMONEY]

Thank you Kalpesh Pathare. The product team are always a step or two ahead of me and are working on some really awesome features. Thanks for your appreciation as always.

[@atulmathur2390]

Excellent way of explaining .. wonderful .....

[@RealReviews4u]

Switching from PPFAS Liquid Fund which to select between Canara Robeco Small Cap Fund or ABSL Nifty Small Cap 50. ( From either of these 2 which has more potential for fast n higher growth )?

[@ManasKumarPanigrahi]

If we need to look at bull and bear run why do we firat place buy an MF and not invest in stocks/shares directly?

[@Supercar3423]

Hi Sir., Is HDFC Index Sensex Plan is good for sip investment?

[@amitchopra7473]

I like ppfas ,Quantum mf and basically index funds . I have looked at five year and ten year returns of MF and more than 90 percent Mf have given dismal less than 10 percennt cagr . We have to keep in mind that 8 percent cagr by Kvp and NSC .even In this historic bull run

[@jestineka]

Really informative. What if someone stay invested through SIP for long term such as 15 years or more? Will averaging come to play in that case?

[@ShibabrataChakraborty]

Sir I am first time listening you, your style of presentation appealed me a lot. May i Request to come out a Presentation on " Small Case" Mutual Fund.

[@reachvijan]

@@ETMONEY It means an website which is alternative to all mutual funds the name is Small Case. It is thematic investment style which stocks are picked and grouped a person need to have Demat account to invest in Small Case.www.smallcase.com.

[@subhankarghoshal3155]

sir, what is the good PE and PB ratio for Small cap 250 for investment?

[@manishharne2985]

Excellent piece of information.

[@fanindranath1716]

Hello sir, please your view on Nippon India tax saver elss fund, i have invested last 4 years through sip route, suld i continue or not,?

[@saikatmazumder8547]

High Shankar - This is one of the very few videos providing guidance on the Small caps. Can you send some links for the Ratio chart of values of two indexes.

[@ETMONEY]

Dear Saikat Mazumder - you'll find the links in the pinned comment of this video.

[@shanmugamm4038]

Very well researched and presented. Above all it’s reliable. Thanks guys. One query is there any specific site where I can look at the comparison between smallcap Nifty 250 index and nifty 50 index? In other words, where should I need to see to determine if the small cap index is 1.1 time of large cap index?

[@smit9803]

Hey, By any chance did you figure out the calculation of relative valuation?

[@123rubyg]

@@smit9803yes

[@rahulpandey8042]

Thanks for the video, how can we check both Relative strength comparison and PE of index?Pls help.

[@arpitkansal3785]

Great work ET team. But, can you please make a more elaborate video/blog on how to compare index of large cap and small cap. I liked that approach but I would like to know the methodology to do it every 6 months. It will be very greatful of you as then i would be able to use this case in my real life. :)

[@smit9803]

Hey, By any chance did you figure out the calculation of relative valuation?

[@ar.swapnilmangle]

Great Insights...Keep Up 👍

[@ETMONEY]

Thank you 🙌

[@naveenkumar_]

Good video Can a similar video be made in 2022? Based on present situation of small cap funds Thank you.

[@pntiwari4937]

What is difference in between the Direct mode and ET Money and many more platforms? How much commission is being passed on by MF house to such platforms. How much is the cut. Certainly in corporate world nothing is free.

[@shovanchowdhury]

Do keep making such informative videos.. thanks🙏👍🙏🙏

[@ETMONEY]

Sure 👍Thank you for the appreciation.

[@rohitash4122]

Informative. Thanks.

[@ETMONEY]

You're welcome. Glad to see that the content was helpful.

[@vikasbhat89]

I have concern... if i do sip investment in any large cap fund then should i invest into nifty index fund also parallely considering that both funds would be investing in top nifty stocks already Or return from both would b different Please suggest.

[@Yourchestdoctor]

fantastic and insightful

[@ETMONEY]

Glad it was helpful! Thanks Anurag Deshpande.

[@sushantkumar4002]

Sir LTCG me kaise tax calculate hoga on below scenario. lets say hamare pass ek fund ke 5 different folio hai and dusre fund ke 3 different folio number hai, sabhi folio me net profit hai 90 K ( 1 lakh ke niche ) and sabhi funds ka units holding period 1 year se jyada hai. LTCG me unit holding ka samay yadi 1 year se jyada hai to up to 1 lakh profit pe no tax, but es scenario me yadi individual folio ke regarding dekha jaay to net profit 1 lakh se niche hai, but all together/combined ( sabhi folio ka ) net profit dekha jaay to wo 1 lakh ke jyada ho jayega. es scenario me tax consideration individual folio ke according hoga ya all portfolio ( all funds combined) ko combinedly consider kiya jayega ?

[@shankar4005]

Hi. Thanks for the insightful video. Could you please share your thoughts on investing in Smallcap funds for a very long term, over 20 years..

[@vasudevan3000]

Great work. after 2020, there is a lot of movement in small cap funds (small cap 100 index went up to 12000 (Jan-2022) and currently running up at 9500 (April-2023)). if you can share thoughts on the current status of the small-cap fund and future direction would be highly appreciated.

[@kiranb1365]

Thanks for the video. Its wonderful. But the question is what is overvalued means? What should be the PE for small cap 250. (e.g like nifty 50 PE is 35 and it is overvalued). What PE is over value for a small cap?

[@prudvi01]

Like he mentioned we could compare the small cap's PE to the PE of the Index funds to get a good understanding of the valuation.

[@shoshinsamurai7901]

Also, for small caps, won't it be better to consider the PE ratio against the median PE over only a short period, like one year, instead of 3 years? Additionally, it may not make sense to invest in small cap index, but rather look at actively managed funds that can actively mitigate volatility of individual stocks that might be different from the index itself and more dependent on the individual fundamentals.

[@taruntiwari1465]

Great analysis on small cap funds 👍👍

[@ETMONEY]

Thank you very much Tarun Tiwari. Glad you liked it! There are some interesting discussions in the comments section too.

[@anupsahamathematicsteacher3102]

Wonderful presentation Sir,please make a video on funds investing in foreign markets.

[@ETMONEY]

Thank you Anup Saha. Sure, we'll look into it. Thank you for your suggestion.

[@mridulsarkar1180]

Sir which among the three will be better for long term gain for around 10 years Axis small cap fund, Axis mid cap fund or Parag Parikh flexi cap fund?

[@arindomchanda6867]

Loving your videos

[@shavezrizvi3932]

Amazing way of presenting in such a clear manner 💯

[@ETMONEY]

Thanks a lot 😊

[@karanpuri4298]

Thanks Sir, Learnt a lot.

[@ETMONEY]

Most welcome. Thx!

[@arnabbhattacharya6579]

Nice video Nath ji

[@ETMONEY]

Thanks

[@arvind1512]

Commendable presentation 👍

[@ETMONEY]

Thanks Arvind Malik

[@arvind1512]

@@ETMONEY Best aspect of referred video was that there was no clutter and the entire duration was focused on information sharing with perfect video quality 🌷

[@sreenishnair9964]

Is it okay to have axis midcap & axis small cap fund together in portfolio??

[@neelamvalecha4837]

Nice one....thanks

[@sukantadas4876]

Went through your valuable guidance,

[@ETMONEY]

Thanks

[@jaypalnitkar4400]

I don’t agree on exiting the small caps. Check the 5 yr and 10 yr cagr of best small cap funds , they are always excellent

[@Harsimran5230]

It defeats the purpose of SIP. You would need someone to hold your hand

[@naranderkumar9754]

Content is good, I appreciate the presentation. I guess Small cap make sense only for seasoned investors. It's too risky for new investors.

[@ETMONEY]

Thank you for your appreciation

[@vinod187118]

If i have an SIP small cap planned for next 20 years, do i need to consider exiting when valuations are high or stay invested what ever happens.. If i exit, i wil lose the power of compounding. And i can choose to invest lumpsum whenever small cap falls.m please suggest

[@sahillamba5590]

So how come funds such as sbi small cap are performing better than index in so called overvaluation period ?

[@prudvi01]

I found your point contradicting to what you've said in a different video which is one should not focus on timing the market so I guess only small caps are one exception to that rule. Nonetheless, great video!

[@prudvi01]

@@ETMONEY well said!

[@prudvi01]

@@ETMONEY Hello again! I just learned that the liquidity of small cap is relatively low that that of mid or large caps, any suggestions regarding this? I was thinking to aim the top 100 small cap companies to deal with this issue, is this a good strategy? Thank you :)

[@bharathkranjan8820]

Can you provide website/URL from where we can see proper graphs of Small Cap PE ratios..?

[@smit9803]

Hey, By any chance did you figure out the calculation of relative valuation or got the website for the graphs?

[@sheetraval1857]

It was great video .Based on analysis given by et money i invested in hdfc small cap .Have some few questions please ans it 1. In sip exit load is 1 year is per sip i didnt know that untill few days back if i sell before 1 year There is no warning like you would loss this much so help me 2. There is some sort of returns calculator like i sold some units but how do i how much return i have generated if possible can you tell me how to do that ( in et money it shows Unrealised gain return and annual retun also when i scrolled down i can see booked profit of -117 yess loss of 117 i dont know why please help give me calculation 3.When i invested hdfc small cap had 5 star ⭐⭐⭐⭐⭐ but now i can see 3 star rating only So Please guide me what to do ?? sell all units and exit or hold ?? stop sip ?? please guide Thanks in advance !!!🙌

[@sheetraval1857]

@@ETMONEY Thanks a ton for reply !! About retunrs wanted to know why there is loss showing in booked profits of 117 because i sold my some units because in unrealized gain it was showing 11% return . Also want to know whats difference between annual return vs unrealized gain return which one i should consider please guide me Also tell me about how the figures in bookes profits tab is calculated .. i dont mind to continue with hdfc small but the fund should be good so tell me is it good fund please tell me ??

[@subhasisbandyopadhyay1789]

Great insight

[@ETMONEY]

Thx

[@garawaful]

ET money videos are always informative and backed with data. Thanks for this. One question, how to check relative valuation of small cap with large cap. ?

[@smit9803]

Hey, By any chance did you figure out the calculation of relative valuation?

[@prianshsarkar5429]

Sir should we invest in sips or lumpsum in small cap funds,for better returns

[@sharadahire5415]

Go for flexicap category.

[@siddharthgupta9401]

Hi @etmoney Can you review small cap index once again now. Is it the right time to buy? The PE is low

[@pradeepgarg9786]

Could we have similiar video for mid cap funds as well ?