# Money Market funds

Money-market instruments maturing within a year.

Full page: https://discovermf.com/categories/money-market
Figures as of 4 Nov 2026, from DiscoverMF. Information, not investment advice. Past returns do not indicate future returns. Mutual fund investments are subject to market risks; read all scheme-related documents carefully.

27 funds managing ₹2.46 lakh cr. Category averages: +6.1% over one year, +6.9% a year over three years; typical expense ratio 0.39%.

## All funds, by three-year return

| Fund | 1 year | 3 years (a year) | 5 years (a year) | Volatility | Expense ratio | Fund size |
| --- | --- | --- | --- | --- | --- | --- |
| [UTI Money Market Fund](https://discovermf.com/funds/uti-money-market-fund-112077.md) | +6.3% | +7.2% | +6.7% | 0.5% | 0.29% | ₹16,019 cr |
| [Axis Money Market Fund](https://discovermf.com/funds/axis-money-market-fund-147568.md) | +6.3% | +7.2% | +6.6% | 0.5% | 0.35% | ₹19,364 cr |
| [Aditya Birla Sun Life Money Market Fund](https://discovermf.com/funds/aditya-birla-sun-life-money-market-fund-101976.md) | +6.2% | +7.2% | +6.7% | 0.5% | 0.37% | ₹26,170 cr |
| [ICICI Prudential Money Market Fund - Cash Option](https://discovermf.com/funds/icici-prudential-money-market-fund-cash-option-103633.md) | +6.2% | +7.2% | +6.6% | 0.5% | — | — |
| [Franklin India Money Market Fund](https://discovermf.com/funds/franklin-india-money-market-fund-101357.md) | +6.3% | +7.2% | +6.5% | 0.5% | 0.30% | ₹4,015 cr |
| [Tata Money Market Fund](https://discovermf.com/funds/tata-money-market-fund-101847.md) | +6.2% | +7.2% | +6.6% | 0.5% | 0.40% | ₹32,642 cr |
| [Nippon India Money Market Fund](https://discovermf.com/funds/nippon-india-money-market-fund-103048.md) | +6.2% | +7.2% | +6.7% | 0.5% | 0.39% | ₹19,035 cr |
| [Kotak Money Market Fund](https://discovermf.com/funds/kotak-money-market-fund-101893.md) | +6.2% | +7.2% | +6.6% | 0.5% | 0.37% | ₹27,102 cr |
| [HDFC Money Market Fund](https://discovermf.com/funds/hdfc-money-market-fund-101993.md) | +6.2% | +7.1% | +6.6% | 0.5% | 0.41% | ₹28,366 cr |
| [Sundaram Money Market Fund](https://discovermf.com/funds/sundaram-money-market-fund-145042.md) | +6.2% | +7.1% | +6.5% | 0.5% | 0.38% | ₹1,305 cr |
| [HSBC Money Market Fund](https://discovermf.com/funds/hsbc-money-market-fund-151048.md) | +6.1% | +7.0% | — | 0.5% | 0.35% | ₹7,676 cr |
| [Baroda BNP Paribas Money Market Fund](https://discovermf.com/funds/baroda-bnp-paribas-money-market-fund-147382.md) | +6.1% | +7.0% | +6.3% | 0.5% | 0.40% | ₹3,258 cr |
| [Mirae Asset Money Market Fund](https://discovermf.com/funds/mirae-asset-money-market-fund-149115.md) | +6.0% | +7.0% | +6.3% | 0.5% | 0.42% | ₹3,370 cr |
| [Bandhan Money Market Fund](https://discovermf.com/funds/bandhan-money-market-fund-108756.md) | +6.2% | +6.9% | +6.2% | 0.5% | — | — |
| [DSP Money Market Fund](https://discovermf.com/funds/dsp-money-market-fund-100087.md) | +6.1% | +6.9% | +6.3% | 0.5% | 0.40% | ₹8,237 cr |
| [TrustMF Money Market Fund](https://discovermf.com/funds/trustmf-money-market-fund-150511.md) | +6.0% | +6.9% | — | 0.5% | 0.45% | ₹258 cr |
| [PGIM India Money Market Fund](https://discovermf.com/funds/pgim-india-money-market-fund-148159.md) | +5.9% | +6.8% | +6.3% | 0.5% | 0.39% | ₹129 cr |
| [SBI Money Market Fund](https://discovermf.com/funds/sbi-money-market-fund-102503.md) | +5.8% | +6.8% | +6.2% | 0.5% | 0.63% | ₹25,237 cr |
| [Bajaj Finserv Money Market Fund](https://discovermf.com/funds/bajaj-finserv-money-market-fund-151893.md) | +5.7% | +6.6% | — | 0.5% | 0.78% | ₹4,298 cr |
| [Edelweiss Money Market Fund](https://discovermf.com/funds/edelweiss-money-market-fund-140229.md) | +5.8% | +6.6% | +5.8% | 0.5% | 0.68% | ₹2,018 cr |
| [Union Money Market Fund](https://discovermf.com/funds/union-money-market-fund-149116.md) | +6.0% | +6.4% | +5.8% | 0.5% | 0.29% | ₹1,044 cr |
| [LIC MF Money Market Fund](https://discovermf.com/funds/lic-mf-money-market-fund-150393.md) | +6.2% | +6.4% | — | 0.5% | 0.38% | ₹4,340 cr |
| [Invesco India Money Market Fund](https://discovermf.com/funds/invesco-india-money-market-fund-112120.md) | +5.3% | +6.1% | +5.5% | 0.5% | 0.43% | ₹6,280 cr |
| [Bank of India Money Market Fund](https://discovermf.com/funds/bank-of-india-money-market-fund-153293.md) | +6.0% | — | — | 0.6% | 0.54% | ₹295 cr |
| [Groww Money Market Fund](https://discovermf.com/funds/groww-money-market-fund-153992.md) | — | — | — | 0.4% | 0.85% | ₹79.5 cr |
| [JioBlackRock Money Market Fund](https://discovermf.com/funds/jioblackrock-money-market-fund-154639.md) | — | — | — | 0.5% | 0.36% | ₹5,409 cr |
| [Shriram Money Market Fund](https://discovermf.com/funds/shriram-money-market-fund-154143.md) | — | — | — | 0.5% | 0.35% | ₹94.9 cr |

## Questions

### How many Money Market funds are there?

27 funds, managing ₹2.46 lakh cr between them as of 4 Nov 2026. The largest is Tata Money Market Fund, at ₹32,642 cr.

### What return have Money Market funds given?

The average Money Market fund returned +6.1% over the last year, +6.9% a year over three years, +6.3% a year over five years. Over the last year the funds ranged from +5.3% to +6.3%. Past returns do not tell you future returns.

### Which Money Market fund has the lowest expense ratio?

UTI Money Market Fund, at 0.29% a year, against 0.39% for the average fund in the category. The expense ratio is taken out of the fund every day, so every return shown is already after it.

### Which Money Market fund has the highest three-year return?

UTI Money Market Fund, at +7.2% a year over the last three years, against +6.9% for the average fund. Past returns do not tell you future returns.

### How risky are Money Market funds?

Their volatility over the last year averaged 0.5%: the higher it is, the more the price swings from day to day. 17 of 27 carry the riskometer level Low to Moderate, on SEBI's six-step scale from Low to Very High.