Lending for three to six months. Debt and money-market securities with a portfolio duration of three to six months. Called Ultra Short Duration until SEBI renamed the debt categories in 2026.
Ranked by three-year return; funds without that figure at the end
Ranked by three-year return, the top three are Aditya Birla Sun Life Ultra Short Term Fund (+7.2% a year), Mirae Asset Ultra Short-Term Fund (+7.1% a year) and Baroda BNP Paribas Ultra Short Term Fund (+7.0% a year). Past returns do not tell you future returns.
Aditya Birla Sun Life Ultra Short Term Fund Aditya Birla Sun Life | +6.1% | +7.2% | +6.6% | 1/24 | 0.58% | ₹15,246 cr |
Mirae Asset Ultra Short-Term Fund Mirae Asset | +6.2% | +7.1% | +6.5% | 2/24 | 0.68% | ₹1,895 cr |
Baroda BNP Paribas Ultra Short Term Fund Baroda BNP Paribas | +6.2% | +7.0% | +6.5% | 3/24 | 0.44% | ₹574 cr |
| +6.2% | +6.9% | +6.4% | 4/24 | 0.38% | ₹2,706 cr | |
ICICI Prudential Ultra Short term Fund ICICI Prudential | +6.0% | +6.9% | +6.3% | 5/24 | 0.80% | ₹14,637 cr |
| +6.1% | +6.9% | +6.3% | 6/24 | 0.48% | ₹4,466 cr | |
| +6.1% | +6.9% | +6.3% | 7/24 | 0.58% | ₹11,364 cr | |
| +6.0% | +6.8% | +6.1% | 8/24 | 0.79% | ₹1,665 cr | |
| +5.8% | +6.8% | +6.3% | 9/24 | 0.71% | ₹14,944 cr | |
Mahindra Manulife Ultra Short Term Fund Mahindra Manulife | +6.0% | +6.8% | +6.2% | 10/24 | 0.73% | ₹241 cr |
Nippon India Ultra Short Term Fund Nippon India | +6.0% | +6.7% | +6.2% | 11/24 | 1.02% | ₹11,840 cr |
Kotak Ultra Short Term Fund Kotak Mahindra | +5.8% | +6.6% | +6.1% | 12/24 | 0.82% | ₹15,125 cr |
| +5.8% | +6.6% | +6.0% | 13/24 | 0.99% | ₹2,722 cr | |
| +6.0% | +6.6% | +5.9% | 14/24 | 1.11% | ₹5,734 cr | |
| +5.7% | +6.5% | +5.9% | 15/24 | 1.01% | ₹3,751 cr | |
| +5.7% | +6.5% | +5.9% | 16/24 | 1.24% | ₹5,273 cr | |
Canara Robeco Ultra Short Term Fund Canara Robeco | +5.7% | +6.4% | +5.8% | 17/24 | 0.92% | ₹533 cr |
WhiteOak Capital Ultra Short Term Fund WhiteOak Capital | +5.7% | +6.3% | +5.8% | 18/24 | 0.82% | ₹573 cr |
| +5.6% | +6.3% | +5.7% | 19/24 | 1.38% | ₹1,280 cr | |
PGIM India Ultra Short Term Fund PGIM India | +5.5% | +6.3% | +5.9% | 20/24 | 0.93% | ₹245 cr |
Bank of India Ultra Short Term Fund Bank of India | +5.7% | +6.3% | +5.8% | 21/24 | 1.01% | ₹222 cr |
| +5.5% | +6.2% | +5.6% | 22/24 | 0.91% | ₹164 cr | |
Sundaram Ultra Short Term Fund Sundaram | +5.2% | +5.9% | — | 23/24 | 1.45% | ₹2,046 cr |
Motilal Oswal Ultra Short Term Fund Motilal Oswal | +5.1% | +5.6% | +5.1% | 24/24 | 1.12% | ₹500 cr |
Edelweiss Ultra Short Term Fund Edelweiss | — | — | — | — | 0.66% | ₹1,112 cr |
Franklin India Ultra Short Term Fund Franklin Templeton | +5.8% | — | — | — | 0.72% | ₹301 cr |
| +3.5% | — | — | — | 0.80% | ₹103 cr |
Answered from the figures above, updated every business day
27 funds, managing ₹1.19 lakh cr between them as of 3 Nov 2026. The largest is Aditya Birla Sun Life Ultra Short Term Fund, at ₹15,246 cr.
The average Ultra Short Term fund returned +5.7% over the last year, +6.6% a year over three years, +6.1% a year over five years. Over the last year the funds ranged from +3.5% to +6.2%. Past returns do not tell you future returns.
HSBC Ultra Short Term Fund, at 0.38% a year, against 0.82% 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.
Aditya Birla Sun Life Ultra Short Term Fund, at +7.2% a year over the last three years, against +6.6% for the average fund. Past returns do not tell you future returns.
Their volatility over the last year averaged 0.4%: the higher it is, the more the price swings from day to day. 19 of 27 carry the riskometer level Low to Moderate, on SEBI's six-step scale from Low to Very High.
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NAV, expense ratio and fund disclosures as published by AMFI and the fund houses; prices as of 3 Nov 2026. Figures are computed independently and may differ from a fund house's own factsheet.
DiscoverMF is an information and analytics service. Nothing here is investment advice, a recommendation, or an offer to buy or sell any scheme. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Past performance does not indicate future returns.