In this paper, the Performance of 13 open-ended equity small cap schemes related to private sector mutual funds are evaluated i.e. Aditya Birla Sun Life Mutual fund, Axis Mutual Fund, DSP Mutual fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, IDBI Mutual Fund, Kotak Mahindra Mutual Fund, L & T Mutual Fund, Nippon India Mutual Fund, Quant Mutual Fund, SBI Mutual Fund, Sundaram Mutual Fund and Union Mutual Fund. The period of the study covers from 1^stApril2018to 31^stMarch 2021. To evaluate the performance of the selected mutual fund schemes, monthly returns are compared with Benchmark- S&P BSE SmallCap Index return. Risk Free Rate has been taken as average fixed deposit rate of State bank of India. Further, various statistical tools like average, standard deviation, coefficient of determination, beta and the risk adjusted performance measures suggested by Sharpe (1966), Jenson (1968), and Treynor (1965) are employed to evaluate the performance for the above selected period.

KEYWORDS: S & PBSE Small Cap Index, Private Sector Mutual Funds, Equity Schemes, Open-Ended, Sharpe, Jenson, Treynor.