First published Dec 2025 | Updated till 30 Nov 2025
Hi, Harsh here from Harshonomics — where I break down real, middle-class-friendly finance without fluff.
2025 was a rollercoaster: Nifty crashed twice, small-caps corrected 20–28%, and WhatsApp groups turned into panic rooms. Yet one fund in my personal portfolio delivered +28.14% YTD (Jan–Nov 2025) and +41% from the March bottom.
Real-Life Context: Why This Article Matters
Global shocks were everywhere in 2025 — US politics, changing visa rules, rising tariffs, and sticky inflation. If you want to understand how these shifts affect your portfolio, read the geopolitical survival guide I wrote: Trump’s 100% Tariff Tsunami 2026 — Middle-Class Survival Playbook.
The Exact Fund
Quant Small Cap Fund – Direct Growth
ISIN: INF966L01689
| Period | Quant Small Cap | Nifty 50 | Nifty Smallcap 100 |
|---|---|---|---|
| Jan–Nov 2025 | +28.14% | +7.92% | -2.31% |
| March low → Nov 2025 | +41.3% | +23.8% | +17.9% |
| 5-year CAGR (Nov 2025) | ~44% | ~14% | ~26% |
My Real Portfolio Numbers (No simulator)
– SIP started: Jan 2023 — ₹15,000/month
– Increased to ₹35,000/month during October 2025 crash
– Total invested (till Nov 2025): ~₹8.4 lakh
– Current value: ~₹14.82 lakh
– XIRR: 34–35%
Note: The extra ₹20,000/month I added during the October fall is already ~24% up in 60 days. Investing when your stomach hurts is powerful.
Why This Fund Outperformed
1) Sector rotation before the crowd
Quant exited overvalued IT, FMCG, and pharma in late 2024 and rotated into cyclical areas.
2) Early exposure to 2025’s structural winners
Heavy allocations to PSUs, railways, defence manufacturing, capital goods, energy and logistics were the backbone of the outperformance. For a deeper view on green and infra cycles shaping India’s next decade, check Green Economy 2025.
3) Maintained 10–18% cash during corrections
Having dry powder allowed aggressive buying at lower prices — something many funds failed to do.
4) Top holdings that popped
Top Nov 2025 holdings included Aegis Logistics, Container Corp, RBL Bank, Linde India and JIO Financial — many returned 90–190% over 18 months.
Big Risk Warning (Read Carefully)
This fund is aggressive. Historical falls include:
- 62% in 2020
- 38% in early 2022
- Two separate ~19% falls in 2025
If a 40–50% drawdown will make you sell in panic, don’t invest here. Building the right behavioural framework matters — for that, see The Harsh Truth About Money.
Is December 2025 Too Late to Enter?
Short answer: No — if your horizon is 10+ years.
– <3 years: avoid small-cap
– 3–5 years: prefer flexi-cap
– 10+ years: small-cap SIP can work (only if you tolerate volatility)
If your salary is squeezed, or you need extra cash to scale SIPs, read my practical side-hustle guide: Easy Ways to Earn Extra Cash in India 2025.
7 Practical Tips I Follow
Related Practical Guides (Contextual, Not Promotional)
I’ve embedded these at natural points above. Below — quick reminders and links you can follow depending on your need:
- Trump’s 100% Tariff Tsunami 2026 — Middle-Class Survival Playbook (geopolitics & market impact)
- Green Economy 2025 (green investments & India’s structural shift)
- The Harsh Truth About Money (behavioural & mindset)
- Why Your Salary Feels Smaller Every Year (inflation survival)
- Easy Ways to Earn Extra Cash in India 2025 (side hustles)
- Master Global Tax Savings in 2025 (tax & NRI/foreign income)
- How to Financially Gear Up for Your Second Passport or Digital Nomad Visa (mobility & tax planning)