Ultra Short Term Funds V/s Fixed Deposits

Updated on August 10, 2026 , 10964 views

Are you Confused where to invest money for short-term? Do you get confused while choosing between Ultra short term funds and Fixed Deposits? Don’t worry, your questions will be answered here. Ultra Short Term Funds is a Mutual Fund category that invests in fixed income instruments having short maturity periods. Fixed Deposit or FD on the other hand, is an investment avenue in which people deposit a certain sum of money for a given timeframe and get it back on maturity along with interest. So, let us have a look at which one out of Ultra Short Term Funds and Fixed deposits is better to invest.

What are Ultra Short Term Funds?

Ultra Short Term Funds is a type of debt funds. This scheme invests its corpus in fixed income instruments whose maturity tenure generally ranges between 91 days to 1 year. This scheme is considered a notch above Liquid Funds and people who are willing to take the marginally higher risk can choose to invest in Ultra Short Term Funds to earn more returns.

What are Fixed Deposits?

Fixed deposit or FD is a traditional source of investment where people need to keep a certain sum of money deposited for a particular tenure. This money invested earns interest. It can be chosen a good investment avenue for short-term as well as long-term tenure. The interest rate on FD is predetermined and its returns are taxable in the hands of investors.

Ultra Short Term Funds or Fixed Deposit: Which One is Better?

Since both the investment avenues have their own characteristics and features, let us check which investment avenue is the best based on various parameters.

Minimum Investment

The minimum investment in case of Fixed Deposits ranges between to₹1,000-₹10,000 depending on the Bank. However, in case of Ultra Short Term Funds, the minimum investment is ₹500 through SIP mode of investment and ₹1,000 through lumpsum mode of investment.

Interest Rate

With respect to the interest rate, FDs have a predetermined interest rate which does not change with the due course of time. However, in case of Ultra Short Term Funds, the returns are variable depending on the performance of the scheme. Currently, as per FY 2017-18, the FD rates range between 6%-7% approximately if the investment is kept for one year. However, in case of Ultra Short Term Funds, the returns ranged approximately more than 7% if the investment is held for one year.

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Tenure

FDs can be used as an investment for both short and long-term tenures. This is because it is considered to be the traditional investment avenue. On the contrary, Ultra Short Term fund is generally, used for a short-term investment tenure. People who have excess funds in their Savings Account can choose to invest in this scheme to earn more. During the investment tenure, people cannot withdraw their funds from the fixed deposit. Even if they need to withdraw, they need to pay certain fixed charges to the bank. On the other hand, people Investing their money in Ultra Short Term Funds can withdraw their money easily as compared fixed deposits. In many of the schemes, investors need not pay any exit load during redemption.

Risk-Appetite

FDs are considered to be risk-free investment avenue wherein; the deposits are considered to be safer. On the contrary, people choosing to invest in Ultra Short Term Funds are able to take a marginally higher level of risk to earn higher returns.

Liquidity

The liquidity in case of ultra short-term funds is higher as compared to fixed deposits. It is comparatively easier to withdraw money from these schemes as compared to a fixed deposit.

Fund Selection Methodology used to find 10 funds

Category: Debt
Sub-category: Ultrashort%20Bond
Investment Option: DEFFMAT:[0 TO 2]
Minimum fund age: 1 year
Sorted On : Maturity yield (high to low)
No Of Funds: 10

Taxation

The taxation rules for both ultra short-term funds and fixed deposits both are different. In case of interest earned on fixed deposit, the money is added to the investor’s income and is taxed as per the individual’s regular tax slab. However, the returns earned in case of the ultra short-term fund is taxable as per the debt funds. As per the rule, if the investment in the ultra short-term fund is held for more than three years then, long-term Capital Gains is applicable while if the tenure is less than three years, then short-term capital gains is applicable. In case of long-term capital gain, it is taxed at 20% with indexation benefits and for short-term capital gains, it is added to income and taxed as per individual’s slab rate.

The table given below summarizes the comparison between Ultra Short Term Funds and fixed deposits.

Parameters	Ultra Short Term Funds	Fixed Deposits
Returns	Varies as per the Scheme’s performance	Predetermined
Minimum Investment	Starts with ₹500 in SIP and ₹1,000 in Lumpsum	Ranges between ₹1,000-₹10,000
Tenure	Generally used for short-term	Both Short and Long-term tenure
Risk	Marginally High	Low
Liquidity	High	Low
Taxation	Short-term: Taxed as per individual’s slab rates Long-term: Taxed at 20% and had taxation benefits	Taxed as per individual’s slab rates

10 Best Performing Ultra Short Term Funds

1. Kotak Savings Fund

(Erstwhile Kotak Treasury Advantage Fund)

The investment objective of the Scheme is to generate returns through investments in debt and money market instruments with a view to reduce the interest rate risk. However, there is no assurance or guarantee that the investment objective of the scheme will be achieved.

Research Highlights for Kotak Savings Fund

Upper mid AUM (₹14,181 Cr).
Established history (22+ yrs).
Rating: 3★ (upper mid).
Risk profile: Moderately Low.
1Y return: 6.02% (lower mid).
1M return: 0.60% (upper mid).
Sharpe: 0.50 (lower mid).
Information ratio: 0.00 (top quartile).
Yield to maturity (debt): 7.90% (top quartile).
Modified duration: 0.40 yrs (upper mid).
Average maturity: 0.51 yrs (lower mid).
Exit load: NIL.
Top sector: Financial Services.
Top bond sector: Corporate.
Conservative stance with elevated cash (~54%).
High-quality debt (AAA/AA ~100%).
Largest holding National Bank For Agriculture And Rural Development (~3.9%).

Below is the key information for Kotak Savings Fund

Kotak Savings Fund Growth
Launch Date	13 Aug 04
NAV (12 Aug 26)	₹45.8152 ↑ 0.00 (0.00 %)
Net Assets (Cr)	₹14,181 on 30 Jun 26
Category	Debt - Ultrashort Bond
AMC	Kotak Mahindra Asset Management Co Ltd
Rating	☆☆☆
Risk	Moderately Low
Expense Ratio	0.81
Sharpe Ratio	0.5
Information Ratio	0
Alpha Ratio	0
Min Investment	5,000
Min SIP Investment	1,000
Exit Load	NIL
Yield to Maturity	7.9%
Effective Maturity	6 Months 4 Days
Modified Duration	4 Months 24 Days

Growth of 10,000 investment over the years.

Date	Value
31 Jul 21	₹10,000
31 Jul 22	₹10,342
31 Jul 23	₹11,012
31 Jul 24	₹11,782
31 Jul 25	₹12,648
31 Jul 26	₹13,398

Kotak Savings Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹200,132.
Net Profit of ₹20,132 Invest Now

Returns for Kotak Savings Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 12 Aug 26

Duration	Returns
1 Month	0.6%
3 Month	1.7%
6 Month	3.1%
1 Year	6%
3 Year	6.8%
5 Year	6%
10 Year
15 Year
Since launch	7.2%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	6.8%
2023	7.2%
2022	6.8%
2021	4.5%
2020	3.2%
2019	5.8%
2018	7.8%
2017	7.4%
2016	6.7%
2015	8.2%

Fund Manager information for Kotak Savings Fund

Name	Since	Tenure
Deepak Agrawal	15 Apr 08	18.31 Yr.
Manu Sharma	1 Nov 22	3.75 Yr.

Data below for Kotak Savings Fund as on 30 Jun 26

Asset Allocation

Asset Class	Value
Cash	54.3%
Debt	45.39%
Other	0.31%

Debt Sector Allocation

Sector	Value
Corporate	60.1%
Government	20.04%
Cash Equivalent	19.54%

Credit Quality

Rating	Value
AA	18.3%
AAA	81.7%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
National Bank For Agriculture And Rural Development Debentures \| -	4%	₹576 Cr	57,500
Tamil Nadu (Government of) 0.0654% - \| -	3%	₹448 Cr	45,000,000
6.17% Govt Stock 2028 Sovereign Bonds \| -	2%	₹327 Cr	32,500,000
Mankind Pharma Limited Debentures \| -	2%	₹300 Cr	30,000
Muthoot Finance Limited Debentures \| -	2%	₹300 Cr	30,000
6.9% Maharashtra Sgs 2030 Sovereign Bonds \| -	2%	₹300 Cr	30,000,000
06/08/2026 Maturing 182 DTB Sovereign Bonds \| -	2%	₹249 Cr	25,000,000
RADHAKRISHNA SECURITISATION TRUST Unlisted bonds \| -	1%	₹204 Cr	210
Vedanta Limited Debentures \| -	1%	₹201 Cr	20,000
National Bank For Agriculture And Rural Development Debentures \| -	1%	₹200 Cr	20,000

2. Nippon India Ultra Short Duration Fund

(Erstwhile Reliance Liquid Fund - Cash Plan)

The investment objective of the Scheme is to generate optimal returns consistent with moderate levels of risk and high liquidity. Accordingly, investments shall predominantly be made in Debt and Money Market Instruments.

Research Highlights for Nippon India Ultra Short Duration Fund

Upper mid AUM (₹10,200 Cr).
Established history (24+ yrs).
Rating: 2★ (bottom quartile).
Risk profile: Low.
1Y return: 6.19% (upper mid).
1M return: 0.58% (lower mid).
Sharpe: 0.85 (upper mid).
Information ratio: 0.00 (top quartile).
Yield to maturity (debt): 7.83% (top quartile).
Modified duration: 0.42 yrs (upper mid).
Average maturity: 0.59 yrs (bottom quartile).
Exit load: NIL.
Top sector: Financial Services.
Higher exposure to Corporate (bond sector) vs peer median.
Conservative stance with elevated cash (~50%).
High-quality debt (AAA/AA ~100%).
Largest holding Tbill (~3.9%).

Below is the key information for Nippon India Ultra Short Duration Fund

Nippon India Ultra Short Duration Fund Growth
Launch Date	7 Dec 01
NAV (12 Aug 26)	₹4,311.19 ↑ 0.39 (0.01 %)
Net Assets (Cr)	₹10,200 on 30 Jun 26
Category	Debt - Ultrashort Bond
AMC	Nippon Life Asset Management Ltd.
Rating	☆☆
Risk	Low
Expense Ratio	1.12
Sharpe Ratio	0.85
Information Ratio	0
Alpha Ratio	0
Min Investment	100
Min SIP Investment	100
Exit Load	NIL
Yield to Maturity	7.83%
Effective Maturity	7 Months 3 Days
Modified Duration	5 Months 1 Day

Growth of 10,000 investment over the years.

Date	Value
31 Jul 21	₹10,000
31 Jul 22	₹10,380
31 Jul 23	₹11,041
31 Jul 24	₹11,814
31 Jul 25	₹12,676
31 Jul 26	₹13,448

Nippon India Ultra Short Duration Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹200,132.
Net Profit of ₹20,132 Invest Now

Returns for Nippon India Ultra Short Duration Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 12 Aug 26

Duration	Returns
1 Month	0.6%
3 Month	1.8%
6 Month	3.3%
1 Year	6.2%
3 Year	6.8%
5 Year	6.1%
10 Year
15 Year
Since launch	6.1%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	6.8%
2023	7.2%
2022	6.7%
2021	4.6%
2020	7.8%
2019	4.9%
2018	0.9%
2017	7.3%
2016	5.8%
2015	6.8%

Fund Manager information for Nippon India Ultra Short Duration Fund

Name	Since	Tenure
Vivek Sharma	1 Oct 13	12.84 Yr.
Kinjal Desai	25 May 18	8.19 Yr.
Akshay Sharma	1 Dec 22	3.67 Yr.
Amber Singhania	11 Mar 26	0.39 Yr.

Data below for Nippon India Ultra Short Duration Fund as on 30 Jun 26

Asset Allocation

Asset Class	Value
Cash	50.19%
Debt	49.51%
Other	0.31%

Debt Sector Allocation

Sector	Value
Corporate	65.17%
Cash Equivalent	26.46%
Government	8.07%

Credit Quality

Rating	Value
AA	33.27%
AAA	66.73%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
Tbill Sovereign Bonds \| -	4%	₹397 Cr	40,000,000
Nirma Limited Debentures \| -	3%	₹347 Cr	34,600 ↑ 5,000
India (Republic of) - \| -	3%	₹274 Cr	27,500,000
Tbill Sovereign Bonds \| -	2%	₹248 Cr	25,000,000
Vedanta Limited Debentures \| -	2%	₹241 Cr	24,000
Indigrid Infrastructure Trust Debentures \| -	2%	₹240 Cr	2,400
Small Industries Development Bank of India Debentures \| -	2%	₹201 Cr	4,300
Embassy Office Parks Reit Debentures \| -	2%	₹200 Cr	2,000
HDFC Bank Ltd. Debentures \| -	2%	₹197 Cr	4,000
Axis Bank Ltd. Debentures \| -	2%	₹191 Cr	4,000 ↑ 4,000

3. ICICI Prudential Ultra Short Term Fund

(Erstwhile ICICI Prudential Regular Income Fund)

The fund’s objective is to generate regular income through investments primarily in debt and money market instruments. As a secondary objective, the Scheme also seeks to generate long term capital appreciation from the portion of equity investments under the Scheme.

Research Highlights for ICICI Prudential Ultra Short Term Fund

Top quartile AUM (₹14,352 Cr).
Established history (15+ yrs).
Rating: 3★ (upper mid).
Risk profile: Moderate.
1Y return: 6.29% (upper mid).
1M return: 0.61% (top quartile).
Sharpe: 0.92 (top quartile).
Information ratio: 0.00 (upper mid).
Yield to maturity (debt): 7.79% (upper mid).
Modified duration: 0.44 yrs (bottom quartile).
Average maturity: 0.53 yrs (lower mid).
Exit load: 0-1 Months (0.5%),1 Months and above(NIL).
Top sector: Energy.
Top bond sector: Corporate.
Conservative stance with elevated cash (~78%).
High-quality debt (AAA/AA ~100%).
Largest holding India (Republic of) (~3.1%).

Below is the key information for ICICI Prudential Ultra Short Term Fund

ICICI Prudential Ultra Short Term Fund Growth
Launch Date	3 May 11
NAV (12 Aug 26)	₹29.6858 ↑ 0.00 (0.01 %)
Net Assets (Cr)	₹14,352 on 30 Jun 26
Category	Debt - Ultrashort Bond
AMC	ICICI Prudential Asset Management Company Limited
Rating	☆☆☆
Risk	Moderate
Expense Ratio	0.8
Sharpe Ratio	0.92
Information Ratio	0
Alpha Ratio	0
Min Investment	5,000
Min SIP Investment	1,000
Exit Load	0-1 Months (0.5%),1 Months and above(NIL)
Yield to Maturity	7.79%
Effective Maturity	6 Months 11 Days
Modified Duration	5 Months 8 Days

Growth of 10,000 investment over the years.

Date	Value
31 Jul 21	₹10,000
31 Jul 22	₹10,372
31 Jul 23	₹11,053
31 Jul 24	₹11,851
31 Jul 25	₹12,748
31 Jul 26	₹13,537

ICICI Prudential Ultra Short Term Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹200,132.
Net Profit of ₹20,132 Invest Now

Returns for ICICI Prudential Ultra Short Term Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 12 Aug 26

Duration	Returns
1 Month	0.6%
3 Month	1.8%
6 Month	3.3%
1 Year	6.3%
3 Year	7%
5 Year	6.3%
10 Year
15 Year
Since launch	7.4%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	7.1%
2023	7.5%
2022	6.9%
2021	4.5%
2020	4%
2019	6.5%
2018	8.4%
2017	7.5%
2016	6.9%
2015	9.8%

Fund Manager information for ICICI Prudential Ultra Short Term Fund

Name	Since	Tenure
Manish Banthia	15 Nov 16	9.71 Yr.
Ritesh Lunawat	15 Jun 17	9.13 Yr.

Data below for ICICI Prudential Ultra Short Term Fund as on 30 Jun 26

Asset Allocation

Asset Class	Value
Cash	78.34%
Debt	21.35%
Other	0.31%

Debt Sector Allocation

Sector	Value
Corporate	63.08%
Cash Equivalent	44.48%

Credit Quality

Rating	Value
AA	20.64%
AAA	79.36%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
India (Republic of) - \| -	3%	₹494 Cr	50,000,000 ↑ 50,000,000
Small Industries Development Bank Of India Debentures \| -	2%	₹351 Cr	35,000
Vedanta Limited Debentures \| -	2%	₹343 Cr	34,000
National Bank For Agriculture And Rural Development Debentures \| -	2%	₹326 Cr	32,500
6.17% Govt Stock 2028 Sovereign Bonds \| -	2%	₹310 Cr	30,773,600
India (Republic of) - \| -	2%	₹296 Cr	30,000,000 ↑ 30,000,000
RADHAKRISHNA SECURITISATION TRUST Unlisted bonds \| -	2%	₹269 Cr	275 ↓ -25
Muthoot Finance Limited Debentures \| -	2%	₹251 Cr	25,000
AU Small Finance Bank Ltd. Debentures \| -	2%	₹242 Cr	5,000
Piramal Finance Limited Debentures \| -	1%	₹231 Cr	23,000

4. SBI Magnum Ultra Short Duration Fund

(Erstwhile SBI Magnum InstaCash Fund)

To provide the investors an opportunity to earn returns through investment in debt & money market securities, while having the benefit of a very high degree of liquidity.

Research Highlights for SBI Magnum Ultra Short Duration Fund

Upper mid AUM (₹11,408 Cr).
Oldest track record among peers (27 yrs).
Rating: 3★ (lower mid).
Risk profile: Low.
1Y return: 6.19% (upper mid).
1M return: 0.57% (bottom quartile).
Sharpe: 0.84 (upper mid).
Information ratio: 0.00 (upper mid).
Yield to maturity (debt): 7.77% (upper mid).
Modified duration: 0.43 yrs (lower mid).
Average maturity: 0.71 yrs (bottom quartile).
Exit load: NIL.
Higher exposure to Financial Services vs peer median.
Top bond sector: Corporate.
Conservative stance with elevated cash (~75%).
High-quality debt (AAA/AA ~100%).
Largest holding India (Republic of) (~5.9%).

Below is the key information for SBI Magnum Ultra Short Duration Fund

SBI Magnum Ultra Short Duration Fund Growth
Launch Date	21 May 99
NAV (12 Aug 26)	₹6,395.76 ↓ -0.14 (0.00 %)
Net Assets (Cr)	₹11,408 on 30 Jun 26
Category	Debt - Ultrashort Bond
AMC	SBI Funds Management Private Limited
Rating	☆☆☆
Risk	Low
Expense Ratio	0.54
Sharpe Ratio	0.84
Information Ratio	0
Alpha Ratio	0
Min Investment	5,000
Min SIP Investment	500
Exit Load	NIL
Yield to Maturity	7.77%
Effective Maturity	8 Months 16 Days
Modified Duration	5 Months 5 Days

Growth of 10,000 investment over the years.

Date	Value
31 Jul 21	₹10,000
31 Jul 22	₹10,343
31 Jul 23	₹11,025
31 Jul 24	₹11,820
31 Jul 25	₹12,707
31 Jul 26	₹13,483

SBI Magnum Ultra Short Duration Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹200,132.
Net Profit of ₹20,132 Invest Now

Returns for SBI Magnum Ultra Short Duration Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 12 Aug 26

Duration	Returns
1 Month	0.6%
3 Month	1.8%
6 Month	3.2%
1 Year	6.2%
3 Year	7%
5 Year	6.2%
10 Year
15 Year
Since launch	7%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	7%
2023	7.4%
2022	7%
2021	4.5%
2020	3.4%
2019	5.9%
2018	8%
2017	7.9%
2016	6.6%
2015	7.7%

Fund Manager information for SBI Magnum Ultra Short Duration Fund

Name	Since	Tenure
Sudhir Agrawal	15 May 25	1.21 Yr.

Data below for SBI Magnum Ultra Short Duration Fund as on 30 Jun 26

Asset Allocation

Asset Class	Value
Cash	74.91%
Debt	24.68%
Other	0.41%

Debt Sector Allocation

Sector	Value
Corporate	59.61%
Cash Equivalent	24.13%
Government	15.85%

Credit Quality

Rating	Value
AA	19.04%
AAA	80.96%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
India (Republic of) - \| -	6%	₹699 Cr	70,000,000
TATA Communications Limited Debentures \| -	5%	₹550 Cr	55,000
Muthoot Finance Limited Debentures \| -	3%	₹324 Cr	32,500 ↑ 10,000
Adani Power Limited Debentures \| -	3%	₹298 Cr	30,000
RADHAKRISHNA SECURITISATION TRUST Unlisted bonds \| -	2%	₹248 Cr	255
Muthoot Finance Limited Debentures \| -	2%	₹201 Cr	20,000
Oberoi Realty Limited Debentures \| -	1%	₹166 Cr	20,000
Eris Lifesciences Limited Debentures \| -	1%	₹150 Cr	15,000
7.03% Chhattisgarh Sdl 2026 Sovereign Bonds \| -	1%	₹150 Cr	15,000,000
TATA Motors Limited Debentures \| -	1%	₹150 Cr	1,500

5. UTI Ultra Short Term Fund

(Erstwhile UTI - Floating Rate Fund - Short Term Plan)

To generate regular income through investment in a portfolio comprising substantially of floating rate debt / money market instruments, fixed rate debt / money market instruments swapped for floating rate returns. The Scheme may also invest a portion of its net assets in fixed rate debt securities and money market instruments .However there can be no assurance that the investment objective of the Scheme will be achieved. The Scheme does not guarantee / indicate any returns.

Research Highlights for UTI Ultra Short Term Fund

Lower mid AUM (₹3,146 Cr).
Established history (22+ yrs).
Rating: 4★ (top quartile).
Risk profile: Moderately Low.
1Y return: 5.96% (bottom quartile).
1M return: 0.59% (lower mid).
Sharpe: 0.43 (lower mid).
Information ratio: 0.00 (upper mid).
Yield to maturity (debt): 7.61% (upper mid).
Modified duration: 0.34 yrs (top quartile).
Average maturity: 0.46 yrs (upper mid).
Exit load: NIL.
Higher exposure to Financial Services vs peer median.
Top bond sector: Corporate.
Conservative stance with elevated cash (~58%).
High-quality debt (AAA/AA ~100%).
Largest holding 26/11/2026 Maturing 364 DTB (~5.7%).

Below is the key information for UTI Ultra Short Term Fund

UTI Ultra Short Term Fund Growth
Launch Date	29 Aug 03
NAV (12 Aug 26)	₹4,525.64 ↑ 0.63 (0.01 %)
Net Assets (Cr)	₹3,146 on 30 Jun 26
Category	Debt - Ultrashort Bond
AMC	UTI Asset Management Company Ltd
Rating	☆☆☆☆
Risk	Moderately Low
Expense Ratio	0.93
Sharpe Ratio	0.43
Information Ratio	0
Alpha Ratio	0
Min Investment	5,000
Min SIP Investment	500
Exit Load	NIL
Yield to Maturity	7.61%
Effective Maturity	5 Months 17 Days
Modified Duration	4 Months 1 Day

Growth of 10,000 investment over the years.

Date	Value
31 Jul 21	₹10,000
31 Jul 22	₹10,608
31 Jul 23	₹11,279
31 Jul 24	₹12,065
31 Jul 25	₹12,941
31 Jul 26	₹13,697

UTI Ultra Short Term Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹200,132.
Net Profit of ₹20,132 Invest Now

Returns for UTI Ultra Short Term Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 12 Aug 26

Duration	Returns
1 Month	0.6%
3 Month	1.8%
6 Month	3.1%
1 Year	6%
3 Year	6.7%
5 Year	6.5%
10 Year
15 Year
Since launch	6.8%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	6.6%
2023	7.2%
2022	6.7%
2021	4.2%
2020	6.1%
2019	5.3%
2018	3.3%
2017	7%
2016	6.6%
2015	8.9%

Fund Manager information for UTI Ultra Short Term Fund

Name	Since	Tenure
Anurag Mittal	21 Jul 26	0.03 Yr.

Data below for UTI Ultra Short Term Fund as on 30 Jun 26

Asset Allocation

Asset Class	Value
Cash	57.89%
Debt	41.73%
Other	0.39%

Debt Sector Allocation

Sector	Value
Corporate	58.23%
Government	20.9%
Cash Equivalent	20.49%

Credit Quality

Rating	Value
AA	24.75%
AAA	75.25%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
26/11/2026 Maturing 364 DTB Sovereign Bonds \| -	6%	₹196 Cr	2,000,000,000 ↑ 2,000,000,000
Axis Bank Ltd. Debentures \| -	4%	₹144 Cr	1,500,000,000
Jamnagar Utilities & Power Private Limited Debentures \| -	3%	₹100 Cr	1,000
Piramal Finance Limited Debentures \| -	3%	₹85 Cr	8,500
Nuvama Wealth Finance Limited Debentures \| -	2%	₹76 Cr	7,500
Godrej Properties Limited Debentures \| -	2%	₹75 Cr	7,500 ↑ 7,500
Bharti Telecom Limited Debentures \| -	2%	₹75 Cr	7,500
Piramal Finance Limited Debentures \| -	2%	₹75 Cr	7,500
TATA Communications Limited Debentures \| -	2%	₹75 Cr	7,500
360 One Prime Limited Debentures \| -	2%	₹75 Cr	7,500

6. Invesco India Ultra Short Term Fund

(Erstwhile Invesco India Medium Term Bond Fund)

The objective is to generate regular income and capital appreciation by investing in a portfolio of medium term debt and money market instruments.

Research Highlights for Invesco India Ultra Short Term Fund

Bottom quartile AUM (₹1,002 Cr).
Established history (15+ yrs).
Rating: 3★ (lower mid).
Risk profile: Moderate.
1Y return: 6.13% (lower mid).
1M return: 0.59% (upper mid).
Sharpe: 0.68 (upper mid).
Information ratio: 0.00 (lower mid).
Yield to maturity (debt): 7.53% (lower mid).
Modified duration: 0.42 yrs (lower mid).
Average maturity: 0.43 yrs (upper mid).
Exit load: NIL.
Top bond sector: Corporate.
Conservative stance with elevated cash (~89%).
High-quality debt (AAA/AA ~100%).
Largest holding 17/09/2026 Maturing 364 DTB (~4.6%).

Below is the key information for Invesco India Ultra Short Term Fund

Invesco India Ultra Short Term Fund Growth
Launch Date	30 Dec 10
NAV (12 Aug 26)	₹2,884.97 ↑ 0.25 (0.01 %)
Net Assets (Cr)	₹1,002 on 30 Jun 26
Category	Debt - Ultrashort Bond
AMC	Invesco Asset Management (India) Private Ltd
Rating	☆☆☆
Risk	Moderate
Expense Ratio	0.74
Sharpe Ratio	0.68
Information Ratio	0
Alpha Ratio	0
Min Investment	5,000
Min SIP Investment	1,000
Exit Load	NIL
Yield to Maturity	7.53%
Effective Maturity	5 Months 6 Days
Modified Duration	5 Months 3 Days

Growth of 10,000 investment over the years.

Date	Value
31 Jul 21	₹10,000
31 Jul 22	₹10,311
31 Jul 23	₹10,950
31 Jul 24	₹11,735
31 Jul 25	₹12,607
31 Jul 26	₹13,365

Invesco India Ultra Short Term Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹200,132.
Net Profit of ₹20,132 Invest Now

Returns for Invesco India Ultra Short Term Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 12 Aug 26

Duration	Returns
1 Month	0.6%
3 Month	1.8%
6 Month	3.3%
1 Year	6.1%
3 Year	6.9%
5 Year	6%
10 Year
15 Year
Since launch	7%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	6.8%
2023	7.5%
2022	6.6%
2021	4.1%
2020	3%
2019	5.1%
2018	7.6%
2017	7.3%
2016	7.1%
2015	9.1%

Fund Manager information for Invesco India Ultra Short Term Fund

Name	Since	Tenure
Krishna Cheemalapati	1 Jul 26	0.08 Yr.
Vikas Garg	1 Jul 26	0.08 Yr.

Data below for Invesco India Ultra Short Term Fund as on 30 Jun 26

Asset Allocation

Asset Class	Value
Cash	88.56%
Debt	11.05%
Other	0.38%

Debt Sector Allocation

Sector	Value
Corporate	49.18%
Cash Equivalent	42.85%
Government	7.59%

Credit Quality

Rating	Value
AA	7.2%
AAA	92.8%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
17/09/2026 Maturing 364 DTB Sovereign Bonds \| -	5%	₹50 Cr	5,000,000
Axis Bank Ltd. Debentures \| -	5%	₹49 Cr	5,000,000 ↓ -2,500,000
TVS Credit Services Limited Debentures \| -	4%	₹40 Cr	4,000,000
Piramal Finance Limited Debentures \| -	2%	₹25 Cr	2,500,000
23/07/2026 Maturing 182 DTB Sovereign Bonds \| -	2%	₹25 Cr	2,500,000
Indostar Capital Finance Limited Debentures \| -	2%	₹20 Cr	2,000,000 ↑ 2,000,000
Godrej Properties Limited Debentures \| -	1%	₹15 Cr	1,500,000 ↑ 1,500,000
Summit Digitel Infrastructure Limited Debentures \| -	1%	₹10 Cr	1,000,000
Pipeline Infrastructure Limited Debentures \| -	1%	₹10 Cr	1,000,000
Axis Bank Ltd. Debentures \| -	1%	₹10 Cr	1,000,000

7. Aditya Birla Sun Life Savings Fund

The primary objective of the schemes is to generate regular income through investments in debt and money market instruments. Income maybe generated through the receipt of coupon payments or the purchase and sale of securities in the underlying portfolio. The schemes will under normal market conditions, invest its net assets in fixed income securities, money market instruments, cash and cash equivalents.

Research Highlights for Aditya Birla Sun Life Savings Fund

Highest AUM (₹17,816 Cr).
Established history (23+ yrs).
Top rated.
Risk profile: Moderately Low.
1Y return: 6.37% (top quartile).
1M return: 0.64% (top quartile).
Sharpe: 0.91 (top quartile).
Information ratio: 0.00 (lower mid).
Yield to maturity (debt): 7.45% (lower mid).
Modified duration: 0.49 yrs (bottom quartile).
Average maturity: 0.55 yrs (bottom quartile).
Exit load: NIL.
Top sector: Financial Services.
Higher exposure to Corporate (bond sector) vs peer median.
Debt-heavy allocation (~67%).
High-quality debt (AAA/AA ~100%).
Largest holding India (Republic of) (~4.7%).

Below is the key information for Aditya Birla Sun Life Savings Fund

Aditya Birla Sun Life Savings Fund Growth
Launch Date	16 Apr 03
NAV (12 Aug 26)	₹588.393 ↑ 0.02 (0.00 %)
Net Assets (Cr)	₹17,816 on 30 Jun 26
Category	Debt - Ultrashort Bond
AMC	Birla Sun Life Asset Management Co Ltd
Rating	☆☆☆☆☆
Risk	Moderately Low
Expense Ratio	0.55
Sharpe Ratio	0.91
Information Ratio	0
Alpha Ratio	0
Min Investment	1,000
Min SIP Investment	1,000
Exit Load	NIL
Yield to Maturity	7.45%
Effective Maturity	6 Months 18 Days
Modified Duration	5 Months 26 Days

Growth of 10,000 investment over the years.

Date	Value
31 Jul 21	₹10,000
31 Jul 22	₹10,383
31 Jul 23	₹11,089
31 Jul 24	₹11,914
31 Jul 25	₹12,876
31 Jul 26	₹13,681

Aditya Birla Sun Life Savings Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹200,132.
Net Profit of ₹20,132 Invest Now

Returns for Aditya Birla Sun Life Savings Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 12 Aug 26

Duration	Returns
1 Month	0.6%
3 Month	1.8%
6 Month	3.3%
1 Year	6.4%
3 Year	7.3%
5 Year	6.5%
10 Year
15 Year
Since launch	7.4%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	7.4%
2023	7.9%
2022	7.2%
2021	4.8%
2020	3.9%
2019	7%
2018	8.5%
2017	7.6%
2016	7.2%
2015	9.2%

Fund Manager information for Aditya Birla Sun Life Savings Fund

Name	Since	Tenure
Sunaina Cunha	20 Jun 14	12.12 Yr.
Kaustubh Gupta	15 Jul 11	15.06 Yr.
Monika Gandhi	22 Mar 21	5.36 Yr.

Data below for Aditya Birla Sun Life Savings Fund as on 30 Jun 26

Asset Allocation

Asset Class	Value
Cash	33.37%
Debt	66.63%

Debt Sector Allocation

Sector	Value
Corporate	71.59%
Government	18.6%
Cash Equivalent	9.81%

Credit Quality

Rating	Value
AA	32.96%
AAA	67.04%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
India (Republic of) - \| -	5%	₹842 Cr	85,000,000
National Bank for Agriculture and Rural Development Domestic Bonds \| -	4%	₹729 Cr	15,300
Shriram Finance Limited Debentures \| -	3%	₹608 Cr	60,000
Bharti Telecom Limited Debentures \| -	2%	₹396 Cr	40,000
Muthoot Finance Limited Debentures \| -	2%	₹349 Cr	35,000
Indusind Bank Ltd. Debentures \| -	2%	₹345 Cr	7,100
Vedanta Limited Debentures \| -	2%	₹328 Cr	32,500
Mankind Pharma Limited Debentures \| -	2%	₹320 Cr	32,000
Avanse Financial Services Limited Debentures \| -	2%	₹300 Cr	30,000
Power Finance Corporation Limited Debentures \| -	2%	₹297 Cr	30,000

8. BOI AXA Ultra Short Duration Fund

(Erstwhile BOI AXA Treasury Advantage Fund)

The Scheme seeks to deliver reasonable market related returns with lower risk and higher liquidity through a portfolio of debt and money market instruments. The Scheme is not providing any assured or guaranteed returns. Further, there is also no assurance that the investment objective of the Scheme will be achieved.

Research Highlights for BOI AXA Ultra Short Duration Fund

Bottom quartile AUM (₹148 Cr).
Established history (18+ yrs).
Rating: 4★ (upper mid).
Risk profile: Moderately Low.
1Y return: 5.92% (bottom quartile).
1M return: 0.56% (bottom quartile).
Sharpe: 0.41 (bottom quartile).
Information ratio: 0.00 (bottom quartile).
Yield to maturity (debt): 7.29% (bottom quartile).
Modified duration: 0.38 yrs (upper mid).
Average maturity: 0.38 yrs (upper mid).
Exit load: NIL.
Top bond sector: Corporate.
Conservative stance with elevated cash (~81%).
High-quality debt (AAA/AA ~100%).
Largest holding Kotak Mahindra Bank Limited (~8.7%).

Below is the key information for BOI AXA Ultra Short Duration Fund

BOI AXA Ultra Short Duration Fund Growth
Launch Date	16 Jul 08
NAV (12 Aug 26)	₹3,373.49 ↑ 0.24 (0.01 %)
Net Assets (Cr)	₹148 on 30 Jun 26
Category	Debt - Ultrashort Bond
AMC	BOI AXA Investment Mngrs Private Ltd
Rating	☆☆☆☆
Risk	Moderately Low
Expense Ratio	0.97
Sharpe Ratio	0.41
Information Ratio	0
Alpha Ratio	0
Min Investment	5,000
Min SIP Investment	1,000
Exit Load	NIL
Yield to Maturity	7.29%
Effective Maturity	4 Months 17 Days
Modified Duration	4 Months 17 Days

Growth of 10,000 investment over the years.

Date	Value
31 Jul 21	₹10,000
31 Jul 22	₹10,333
31 Jul 23	₹10,970
31 Jul 24	₹11,666
31 Jul 25	₹12,479
31 Jul 26	₹13,204

BOI AXA Ultra Short Duration Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹197,169.
Net Profit of ₹17,169 Invest Now

Returns for BOI AXA Ultra Short Duration Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 12 Aug 26

Duration	Returns
1 Month	0.6%
3 Month	1.7%
6 Month	3.2%
1 Year	5.9%
3 Year	6.4%
5 Year	5.7%
10 Year
15 Year
Since launch	7%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	6.5%
2023	6.7%
2022	6.2%
2021	4.4%
2020	3.2%
2019	4.9%
2018	7.5%
2017	7.6%
2016	8%
2015	9.1%

Fund Manager information for BOI AXA Ultra Short Duration Fund

Name	Since	Tenure
Mithraem Bharucha	17 Aug 21	4.96 Yr.

Data below for BOI AXA Ultra Short Duration Fund as on 30 Jun 26

Asset Allocation

Asset Class	Value
Cash	80.69%
Debt	18.99%
Other	0.32%

Debt Sector Allocation

Sector	Value
Corporate	48.68%
Cash Equivalent	36.93%
Government	14.07%

Credit Quality

Rating	Value
AA	7.92%
AAA	92.08%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
Manappuram Finance Limited Debentures \| -	7%	₹11 Cr	1,100,000
National Bank for Agriculture and Rural Development Domestic Bonds \| -	7%	₹10 Cr	1,100,000
25/12/2026 Maturing 364 DTB Sovereign Bonds \| -	3%	₹5 Cr	500,000
India (Republic of) - \| -	3%	₹5 Cr	500,000
Axis Bank Ltd. Debentures \| -	3%	₹4 Cr	400,000 ↑ 400,000
Small Industries Development Bank of India Debentures \| -	2%	₹4 Cr	400,000
Tbill Sovereign Bonds \| -	1%	₹2 Cr	175,000
08/10/2026 Maturing 364 DTB Sovereign Bonds \| -	1%	₹1 Cr	79,600
Corporate Debt Market Development Fund # - \| -	0%	₹0 Cr	417
Kotak Mahindra Bank Limited Certificate of Deposit \| -	9%	₹14 Cr	1,400,000 ↑ 1,400,000

9. DSP Money Manager Fund

"The primary investment objective of the Scheme is to seek to generate reasonable returns commensurate with low risk and a high degree of liquidity, from a portfolio constituted of money market securities and high quality debt securities. However, there can be no assurance that the investment objective of the Scheme will be realized."

Research Highlights for DSP Money Manager Fund

Lower mid AUM (₹3,905 Cr).
Established history (20+ yrs).
Rating: 2★ (bottom quartile).
Risk profile: Moderately Low.
1Y return: 5.92% (bottom quartile).
1M return: 0.60% (upper mid).
Sharpe: 0.29 (bottom quartile).
Information ratio: 0.00 (bottom quartile).
Yield to maturity (debt): 7.07% (bottom quartile).
Modified duration: 0.47 yrs (bottom quartile).
Average maturity: 0.05 yrs (top quartile).
Exit load: NIL.
Higher exposure to Corporate (bond sector) vs peer median.
Conservative stance with elevated cash (~59%).
High-quality debt (AAA/AA ~100%).
Largest holding Tbill (~2.2%).

Below is the key information for DSP Money Manager Fund

DSP Money Manager Fund Growth
Launch Date	31 Jul 06
NAV (12 Aug 26)	₹3,634.69 ↑ 0.19 (0.01 %)
Net Assets (Cr)	₹3,905 on 30 Jun 26
Category	Debt - Ultrashort Bond
AMC	DSP BlackRock Invmt Managers Pvt. Ltd.
Rating	☆☆
Risk	Moderately Low
Expense Ratio	1.02
Sharpe Ratio	0.29
Information Ratio	0
Alpha Ratio	0
Min Investment	1,000
Min SIP Investment	500
Exit Load	NIL
Yield to Maturity	7.07%
Effective Maturity	18 Days
Modified Duration	5 Months 19 Days

Growth of 10,000 investment over the years.

Date	Value
31 Jul 21	₹10,000
31 Jul 22	₹10,302
31 Jul 23	₹10,934
31 Jul 24	₹11,688
31 Jul 25	₹12,535
31 Jul 26	₹13,262

DSP Money Manager Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹197,169.
Net Profit of ₹17,169 Invest Now

Returns for DSP Money Manager Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 12 Aug 26

Duration	Returns
1 Month	0.6%
3 Month	1.7%
6 Month	3.2%
1 Year	5.9%
3 Year	6.7%
5 Year	5.8%
10 Year
15 Year
Since launch	6.7%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	6.7%
2023	6.9%
2022	6.7%
2021	4.1%
2020	2.9%
2019	4.7%
2018	7.3%
2017	5%
2016	6%
2015	7.5%

Fund Manager information for DSP Money Manager Fund

Name	Since	Tenure
Karan Mundhra	31 May 21	5.17 Yr.
Shalini Vasanta	1 Jan 25	1.58 Yr.

Data below for DSP Money Manager Fund as on 30 Jun 26

Asset Allocation

Asset Class	Value
Cash	58.99%
Debt	40.76%
Other	0.26%

Debt Sector Allocation

Sector	Value
Corporate	65.77%
Cash Equivalent	17.44%
Government	16.53%

Credit Quality

Rating	Value
AA	22.76%
AAA	77.24%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
Tbill Sovereign Bonds \| -	2%	₹99 Cr	10,000,000
Axis Bank Ltd. Debentures \| -	2%	₹97 Cr	2,000
Aditya Birla Renewables Limited Debentures \| -	2%	₹80 Cr	7,500
360 One Prime Limited Debentures \| -	2%	₹76 Cr	7,500
5.74% Govt Stock 2026 Sovereign Bonds \| -	2%	₹76 Cr	7,500,000
Piramal Finance Limited Debentures \| -	1%	₹59 Cr	5,500 ↓ -1,000
Nuvama Wealth Finance Limited Debentures \| -	1%	₹54 Cr	5,000
National Bank For Agriculture And Rural Development Debentures \| -	1%	₹53 Cr	5,000 ↑ 2,500
Nuvama Wealth And Investment Limited Debentures \| -	1%	₹53 Cr	5,000
8.24% Govt Stock 2027 Sovereign Bonds \| -	1%	₹52 Cr	5,000,000

10. IDBI Ultra Short Term Fund

The objective of the Scheme will be to provide investors with regular income for their investment by investing in debt and money market instruments with relatively lower interest rate risk, such that the Macaulay duration of the portfolio is maintained between 3 months to 6 months. However, there can be no assurance that the investment objective of the Scheme will be realized.

Research Highlights for IDBI Ultra Short Term Fund

Bottom quartile AUM (₹146 Cr).
Established history (15+ yrs).
Rating: 1★ (bottom quartile).
Risk profile: Moderately Low.
1Y return: 6.39% (top quartile).
1M return: 0.52% (bottom quartile).
Sharpe: -0.57 (bottom quartile).
Information ratio: 0.00 (bottom quartile).
Yield to maturity (debt): 6.83% (bottom quartile).
Modified duration: 0.19 yrs (top quartile).
Average maturity: 0.23 yrs (top quartile).
Exit load: NIL.

Below is the key information for IDBI Ultra Short Term Fund

IDBI Ultra Short Term Fund Growth
Launch Date	3 Sep 10
NAV (28 Jul 23)	₹2,424.68 ↑ 0.44 (0.02 %)
Net Assets (Cr)	₹146 on 30 Jun 23
Category	Debt - Ultrashort Bond
AMC	IDBI Asset Management Limited
Rating	☆
Risk	Moderately Low
Expense Ratio	0.6
Sharpe Ratio	-0.57
Information Ratio	0
Alpha Ratio	0
Min Investment	5,000
Min SIP Investment	500
Exit Load	NIL
Yield to Maturity	6.83%
Effective Maturity	2 Months 23 Days
Modified Duration	2 Months 10 Days

Growth of 10,000 investment over the years.

Date	Value

IDBI Ultra Short Term Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹197,169.
Net Profit of ₹17,169 Invest Now

Returns for IDBI Ultra Short Term Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 12 Aug 26

Duration	Returns
1 Month	0.5%
3 Month	1.6%
6 Month	3.4%
1 Year	6.4%
3 Year	4.8%
5 Year	5.5%
10 Year
15 Year
Since launch	7.1%

Historical performance (Yearly) on absolute basis

Year	Returns
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015

Fund Manager information for IDBI Ultra Short Term Fund

Name	Since	Tenure

Data below for IDBI Ultra Short Term Fund as on 30 Jun 23

Asset Allocation

Asset Class	Value

Debt Sector Allocation

Sector	Value

Credit Quality

Rating	Value

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity

Thus, from the above-given parameters, we can conclude that Ultra Short Term Funds are a better option as compared to fixed deposits.

Disclaimer:
All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.