Lending for six months to a year. Debt and money-market securities with a portfolio duration of six to twelve months. Called Low 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 HSBC Ultra Short to Short Term Fund (+7.2% a year), ICICI Prudential Ultra Short to Short Term Fund (+7.2% a year) and UTI Ultra Short to Short Term Fund (+7.0% a year). Past returns do not tell you future returns.
| +5.5% | +7.2% | — | 1/20 | 0.96% | ₹807 cr | |
ICICI Prudential Ultra Short to Short Term Fund ICICI Prudential | +5.8% | +7.2% | +6.6% | 2/20 | 0.53% | ₹17,309 cr |
| +5.6% | +7.0% | +6.4% | 3/20 | 0.65% | ₹2,838 cr | |
| +5.6% | +7.0% | +6.4% | 4/20 | 0.73% | ₹4,857 cr | |
| +5.6% | +6.8% | +6.2% | 5/20 | 0.57% | ₹2,666 cr | |
Canara Robeco Ultra Short to Short Term Fund Canara Robeco | +5.6% | +6.8% | +6.2% | 6/20 | 0.50% | ₹1,088 cr |
| +5.3% | +6.8% | +6.1% | 7/20 | 0.65% | ₹1,801 cr | |
Nippon India Ultra Short to Short Term Fund Nippon India | +5.4% | +6.7% | +6.1% | 8/20 | 0.99% | ₹7,246 cr |
| +5.4% | +6.7% | +6.1% | 9/20 | 0.69% | ₹6,201 cr | |
JM Ultra Short to Short Term Fund JM Financial | +5.3% | +6.7% | +6.0% | 10/20 | — | ₹238 cr |
| +5.2% | +6.7% | +6.1% | 11/20 | 1.03% | ₹15,297 cr | |
| +5.2% | +6.6% | +6.1% | 12/20 | 0.63% | ₹4,433 cr | |
Mirae Asset Ultra Short to Short Term Fund Mirae Asset | +5.2% | +6.6% | +6.0% | 13/20 | 0.87% | ₹2,287 cr |
| +5.6% | +6.6% | +5.9% | 14/20 | 0.42% | ₹1,692 cr | |
| +5.2% | +6.6% | +6.0% | 15/20 | 0.92% | ₹10,905 cr | |
Kotak Ultra Short to Short Term Fund Kotak Mahindra | +5.0% | +6.5% | +5.9% | 16/20 | 1.18% | ₹11,883 cr |
Mahindra Manulife Ultra Short to Short Term Fund Mahindra Manulife | +5.2% | +6.5% | +5.9% | 17/20 | 1.07% | ₹495 cr |
Baroda BNP Paribas Ultra Short to Short Term Fund Baroda BNP Paribas | +5.2% | +6.4% | — | 18/20 | 1.03% | ₹396 cr |
| +4.9% | +6.4% | — | 19/20 | 1.15% | ₹382 cr | |
Aditya Birla Sun Life Ultra short to short term Fund Aditya Birla Sun Life | +4.8% | +6.4% | +5.9% | 20/20 | 1.20% | ₹9,162 cr |
Bajaj Finserv Ultra Short to Short Term Fund Bajaj Finserv | — | — | — | — | 1.02% | ₹583 cr |
| +5.2% | — | — | — | 0.97% | ₹406 cr | |
Franklin India Ultra Short to Short Term Fund Franklin Templeton | +5.6% | — | — | — | 0.72% | ₹328 cr |
JioBlackRock Ultra Short to Short Term Fund Jio BlackRock | — | — | — | — | 0.75% | ₹638 cr |
| +4.6% | — | — | — | 0.87% | ₹163 cr |
Answered from the figures above, updated every business day
25 funds, managing ₹1.04 lakh cr between them as of 3 Nov 2026. The largest is ICICI Prudential Ultra Short to Short Term Fund, at ₹17,309 cr.
The average Ultra Short to Short Term fund returned +5.3% over the last year, +6.7% a year over three years, +6.1% a year over five years. Over the last year the funds ranged from +4.6% to +5.8%. Past returns do not tell you future returns.
LIC MF Ultra Short to Short Term Fund, at 0.42% a year, against 0.87% 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.
HSBC Ultra Short to Short Term Fund, at +7.2% a year over the last three years, against +6.7% for the average fund. Past returns do not tell you future returns.
Their volatility over the last year averaged 0.6%: the higher it is, the more the price swings from day to day. 19 of 25 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.