+91-22-48913909Ultra Short Term Funds Vs Liquid Funds
Whenever we think of short-term investment in Mutual Funds, we often come across the terms such as ultra short term funds and Liquid Funds. Though both of them are categories of debt funds, however, they do possess the different characteristics. Ultra Short Term fund is a Debt fund category whose Portfolio consists of fixed Income securities with a maturity period ranging between 91 days to one year. On the other hand, the liquid fund is a debt fund category whose portfolio consists of Fixed Income securities with a maturity period of less than or equal to 91 days.
So, let us understand the differences between both ultra short term funds and liquid funds with respect to various parameters.
What is an Ultra Short Term Fund?
Ultra short term fund is a category of debt fund that invests its corpus in fixed income securities. The fund’s portfolio maturity tenure extends between 91 days and normally less than 1 year. These schemes were earlier referred as Liquid Plus Funds. Ultra Short Term Funds is suitable for investors who are willing to take a marginally higher level of risk to earn higher returns. These schemes are a notch above liquid funds with respect to risk and returns.
What is a Liquid Fund?
Liquid fund refers to the Mutual Fund scheme that invests its accumulated fund money in fixed income securities having a maturity period of less than 91 days. Liquid funds are part of debt funds and are considered to be one of the safe investment avenues. People having idle funds lying in their Bank account can choose to invest in the money in liquid funds and earn more returns. These schemes have higher liquidity as compared to ultra short term fund.
Difference Between Ultra Short Term Fund Vs Liquid Fund
The different parameters that differentiate ultra short term funds and liquid funds are as follows.
Maturity Tenure of Underlying Assets
The Maturity tenure of Underlying assets in case of liquid funds is less as compared to ultra short term funds. These securities in most cases have a maturity profile of less than or equal to 91 days. However, in case of ultra short term funds, the maturity tenure of its underlying securities are more than 91 days and less than 1 year.
Liquidity
The liquidity of liquid funds is high as compared to ultra short term funds. In case liquid funds, some of the Mutual Fund companies do provide an instant Redemption Facility. By opting for this facility, one can ensure that they get their proceeds credited to the bank account within 30 minutes. However, this facility is not available in case of ultra short term funds. In ultra short term funds people get their money back on the next working day if they place their order before the cut-off time.
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Returns
The returns in case of ultra short term funds are slightly higher as compared to liquid funds. This higher return is due to the marginally higher risk which is present in ultra short term funds as compared to liquid funds.
Risk
The risk in case of liquid funds is very low as compared to ultra short term funds. This is because the underlying securities in liquid funds are mostly held till maturity instead of trading due to very low maturity tenure. However, in case of ultra short term funds, the risk is marginally higher as compared to liquid funds.
Exit Load
Most of the liquid funds do not have any exit loads attached to it due to which people get the entire redemption proceeds at the time of withdrawals. However, ultra short term funds may or may not have exit loads. Exit load in case of ultra short term fund is generally applicable if the redemption is done within a short period of time.
Taxation
Since both ultra short-term funds and liquid funds are a part of the debt funds; the taxation rules are same for both of them. If both the funds are sold within three years from the date of purchase, then Short Term Capital Gain (STCG) is applicable which is charged as per the individual’s tax slab. On the contrary, if the units are redeemed after three years then Long Term Capital Gain (LTCG) is applicable which is charged at 20% along with indexation benefits.
Cut-off Time
The cut-off time for placing an order with respect to purchase or redemption in case of the liquid fund is 2 PM, while in case of ultra short term funds the cut-off time is 3 PM.
The table given below sums up the differences between liquid funds and ultra short term funds.
| Parameters | Liquid Funds | Ultra Short Term Funds |
|---|---|---|
| Maturity Profile of Underlying Assets | The maturity profile of the assets is less than or equal to 91 days | The maturity profile of the assets is more than 91 days and less than one year |
| Liquidity | High liquidity | Low as compared to Liquid Funds |
| Returns | Lower as compared to ultra short term funds | Slightly higher than liquid funds |
| Risk | Very low | Marginally higher in comparison to liquid funds |
| Exit Load | Mostly does not have exit load | May or may not have exit loads |
| Taxation | Short-term: Taxed as per individual’s slab rates Long-term: Taxed at 20% and had taxation benefits | Same as Liquid Funds |
| Cut-off Time | 2 PM | 3 PM |
Best Funds to Invest in FY 25 - 26
After understanding the differences between liquid funds and ultra short term funds, let us have a look at some of the Best Liquid Funds and Best Ultra Short term funds which may suit your requirements.
Best Liquid Funds
Fund NAV Net Assets (Cr) 1 MO (%) 3 MO (%) 6 MO (%) 1 YR (%) 2024 (%) Debt Yield (YTM) Mod. Duration Eff. Maturity Axis Liquid Fund Growth ₹3,081.06
↑ 0.54 ₹51,160 0.6 1.8 3.3 6.2 6.6 6.23% 1M 5D 1M 5D Edelweiss Liquid Fund Growth ₹3,538.32
↑ 0.60 ₹15,091 0.6 1.8 3.2 6.2 6.5 7.42% 2M 8D 2M 8D BOI AXA Liquid Fund Growth ₹3,186.24
↑ 0.55 ₹1,735 0.6 1.7 3.2 6.2 6.6 6.11% 1M 10D 1M 10D DSP Liquidity Fund Growth ₹3,949.68
↑ 0.68 ₹22,480 0.6 1.8 3.2 6.2 6.5 7.48% 1M 28D 2M 1D UTI Liquid Cash Plan Growth ₹4,538.22
↑ 0.76 ₹31,184 0.6 1.8 3.2 6.2 6.5 7.55% 2M 6D 2M 6D Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 14 Jun 26 Research Highlights & Commentary of 5 Funds showcased
Commentary Axis Liquid Fund Edelweiss Liquid Fund BOI AXA Liquid Fund DSP Liquidity Fund UTI Liquid Cash Plan Point 1 Highest AUM (₹51,160 Cr). Bottom quartile AUM (₹15,091 Cr). Bottom quartile AUM (₹1,735 Cr). Lower mid AUM (₹22,480 Cr). Upper mid AUM (₹31,184 Cr). Point 2 Established history (16+ yrs). Established history (18+ yrs). Established history (17+ yrs). Established history (20+ yrs). Oldest track record among peers (22 yrs). Point 3 Top rated. Rating: 2★ (bottom quartile). Rating: 3★ (upper mid). Rating: 3★ (lower mid). Rating: 3★ (bottom quartile). Point 4 Risk profile: Low. Risk profile: Low. Risk profile: Low. Risk profile: Low. Risk profile: Low. Point 5 1Y return: 6.24% (top quartile). 1Y return: 6.23% (upper mid). 1Y return: 6.23% (lower mid). 1Y return: 6.22% (bottom quartile). 1Y return: 6.21% (bottom quartile). Point 6 1M return: 0.58% (upper mid). 1M return: 0.58% (lower mid). 1M return: 0.57% (bottom quartile). 1M return: 0.59% (top quartile). 1M return: 0.58% (bottom quartile). Point 7 Sharpe: 2.32 (lower mid). Sharpe: 2.28 (bottom quartile). Sharpe: 2.76 (top quartile). Sharpe: 2.38 (upper mid). Sharpe: 2.31 (bottom quartile). Point 8 Information ratio: 0.00 (upper mid). Information ratio: 0.00 (lower mid). Information ratio: 2.00 (top quartile). Information ratio: 0.00 (bottom quartile). Information ratio: 0.00 (bottom quartile). Point 9 Yield to maturity (debt): 6.23% (bottom quartile). Yield to maturity (debt): 7.42% (lower mid). Yield to maturity (debt): 6.11% (bottom quartile). Yield to maturity (debt): 7.48% (upper mid). Yield to maturity (debt): 7.55% (top quartile). Point 10 Modified duration: 0.10 yrs (top quartile). Modified duration: 0.19 yrs (bottom quartile). Modified duration: 0.11 yrs (upper mid). Modified duration: 0.16 yrs (lower mid). Modified duration: 0.18 yrs (bottom quartile). Axis Liquid Fund
Edelweiss Liquid Fund
BOI AXA Liquid Fund
DSP Liquidity Fund
UTI Liquid Cash Plan
Best Ultra Short Term Funds
Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 2024 (%) Debt Yield (YTM) Mod. Duration Eff. Maturity Aditya Birla Sun Life Savings Fund Growth ₹580.962
↑ 0.20 ₹19,985 1.6 2.9 6.2 7.2 7.4 7.45% 5M 26D 7M 2D ICICI Prudential Ultra Short Term Fund Growth ₹29.3177
↑ 0.01 ₹15,929 1.6 2.9 6 7 7.1 7.73% 5M 16D 6M 29D Nippon India Ultra Short Duration Fund Growth ₹4,259.31
↑ 1.45 ₹11,083 1.6 3 5.9 6.8 6.8 7.97% 5M 26D 8M 14D SBI Magnum Ultra Short Duration Fund Growth ₹6,315.79
↑ 1.35 ₹12,553 1.5 2.9 5.9 6.9 7 7.51% 5M 16D 10M 2D Invesco India Ultra Short Term Fund Growth ₹2,848.07
↑ 0.91 ₹1,073 1.6 2.9 5.8 6.8 6.8 7.66% 5M 24D 6M 1D Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 12 Jun 26 Research Highlights & Commentary of 5 Funds showcased
Commentary Aditya Birla Sun Life Savings Fund ICICI Prudential Ultra Short Term Fund Nippon India Ultra Short Duration Fund SBI Magnum Ultra Short Duration Fund Invesco India Ultra Short Term Fund Point 1 Highest AUM (₹19,985 Cr). Upper mid AUM (₹15,929 Cr). Bottom quartile AUM (₹11,083 Cr). Lower mid AUM (₹12,553 Cr). Bottom quartile AUM (₹1,073 Cr). Point 2 Established history (23+ yrs). Established history (15+ yrs). Established history (24+ yrs). Oldest track record among peers (27 yrs). Established history (15+ yrs). Point 3 Top rated. Rating: 3★ (upper mid). Rating: 2★ (bottom quartile). Rating: 3★ (lower mid). Rating: 3★ (bottom quartile). Point 4 Risk profile: Moderately Low. Risk profile: Moderate. Risk profile: Low. Risk profile: Low. Risk profile: Moderate. Point 5 1Y return: 6.16% (top quartile). 1Y return: 6.05% (upper mid). 1Y return: 5.93% (lower mid). 1Y return: 5.91% (bottom quartile). 1Y return: 5.80% (bottom quartile). Point 6 1M return: 0.56% (top quartile). 1M return: 0.55% (upper mid). 1M return: 0.54% (lower mid). 1M return: 0.51% (bottom quartile). 1M return: 0.50% (bottom quartile). Point 7 Sharpe: 1.75 (top quartile). Sharpe: 1.75 (upper mid). Sharpe: 1.37 (bottom quartile). Sharpe: 1.67 (lower mid). Sharpe: 0.98 (bottom quartile). Point 8 Information ratio: 0.00 (top quartile). Information ratio: 0.00 (upper mid). Information ratio: 0.00 (lower mid). Information ratio: 0.00 (bottom quartile). Information ratio: 0.00 (bottom quartile). Point 9 Yield to maturity (debt): 7.45% (bottom quartile). Yield to maturity (debt): 7.73% (upper mid). Yield to maturity (debt): 7.97% (top quartile). Yield to maturity (debt): 7.51% (bottom quartile). Yield to maturity (debt): 7.66% (lower mid). Point 10 Modified duration: 0.49 yrs (bottom quartile). Modified duration: 0.46 yrs (top quartile). Modified duration: 0.49 yrs (bottom quartile). Modified duration: 0.46 yrs (upper mid). Modified duration: 0.48 yrs (lower mid). Aditya Birla Sun Life Savings Fund
ICICI Prudential Ultra Short Term Fund
Nippon India Ultra Short Duration Fund
SBI Magnum Ultra Short Duration Fund
Invesco India Ultra Short Term Fund
*Above is the detailed list of Liquid / Ultrashort funds having Net Assets more than 1000 Crore and have been managing funds for atleast 3 Years. Sorted based on 1 Year returns.
*Below is the detailed list of Liquid / Ultrashort funds having Net Assets more than 1000 Crore and have been managing funds for atleast 3 Years. Sorted based on last yield to maturity.
(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 Below is the key information for Nippon India Ultra Short Duration Fund Returns up to 1 year are on (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 Below is the key information for UTI Ultra Short Term Fund Returns up to 1 year are on (Erstwhile Aditya Birla Sun Life Cash Plus Fund) An Open-ended liquid scheme with the objective to provide reasonable returns at a high level of safety and liquidity through judicious investments in high quality debt and money market instruments. Research Highlights for Aditya Birla Sun Life Liquid Fund Below is the key information for Aditya Birla Sun Life Liquid Fund Returns up to 1 year are on (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 Below is the key information for ICICI Prudential Ultra Short Term Fund Returns up to 1 year are on (Erstwhile ICICI Prudential Liquid Plan) To provide reasonable returns, commensurate with low risk while providing a high level of liquidity, through investments made primarily in money market and debt securities. Research Highlights for ICICI Prudential Liquid Fund Below is the key information for ICICI Prudential Liquid Fund Returns up to 1 year are on 1. Nippon India Ultra Short Duration Fund
Nippon India Ultra Short Duration Fund
Growth Launch Date 7 Dec 01 NAV (12 Jun 26) ₹4,259.31 ↑ 1.45 (0.03 %) Net Assets (Cr) ₹11,083 on 30 Apr 26 Category Debt - Ultrashort Bond AMC Nippon Life Asset Management Ltd. Rating ☆☆ Risk Low Expense Ratio 1.12 Sharpe Ratio 1.37 Information Ratio 0 Alpha Ratio 0 Min Investment 100 Min SIP Investment 100 Exit Load NIL Yield to Maturity 7.97% Effective Maturity 8 Months 14 Days Modified Duration 5 Months 26 Days Growth of 10,000 investment over the years.
Date Value 31 May 21 ₹10,000 31 May 22 ₹10,737 31 May 23 ₹11,385 31 May 24 ₹12,171 31 May 25 ₹13,069 31 May 26 ₹13,823 Returns for Nippon India Ultra Short Duration Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 12 Jun 26 Duration Returns 1 Month 0.5% 3 Month 1.6% 6 Month 3% 1 Year 5.9% 3 Year 6.8% 5 Year 6.5% 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 12.67 Yr. Kinjal Desai 25 May 18 8.02 Yr. Akshay Sharma 1 Dec 22 3.5 Yr. Amber Singhania 11 Mar 26 0.22 Yr. Data below for Nippon India Ultra Short Duration Fund as on 30 Apr 26
Asset Allocation
Asset Class Value Cash 48.82% Debt 50.9% Other 0.28% Debt Sector Allocation
Sector Value Corporate 66.96% Cash Equivalent 19.51% Government 13.25% Credit Quality
Rating Value AA 29.3% AAA 70.7% Top Securities Holdings / Portfolio
Name Holding Value Quantity Tbill
Sovereign Bonds | -3% ₹394 Cr 40,000,000 India (Republic of)
- | -2% ₹272 Cr 27,500,000
↑ 27,500,000 Tbill
Sovereign Bonds | -2% ₹246 Cr 25,000,000 Vedanta Limited
Debentures | -2% ₹240 Cr 24,000 Indigrid Infrastructure Trust
Debentures | -2% ₹240 Cr 2,400 TATA Communications Limited
Debentures | -2% ₹225 Cr 22,500 Bajaj Housing Finance Limited
Debentures | -2% ₹200 Cr 2,000
↑ 2,000 Aadhar Housing Finance Limited
Debentures | -2% ₹200 Cr 20,000 Embassy Office Parks Reit
Debentures | -2% ₹199 Cr 2,000 National Bank for Agriculture and Rural Development
Domestic Bonds | -2% ₹188 Cr 4,000 2. UTI Ultra Short Term Fund
UTI Ultra Short Term Fund
Growth Launch Date 29 Aug 03 NAV (12 Jun 26) ₹4,470.12 ↑ 1.66 (0.04 %) Net Assets (Cr) ₹4,126 on 30 Apr 26 Category Debt - Ultrashort Bond AMC UTI Asset Management Company Ltd Rating ☆☆☆☆ Risk Moderately Low Expense Ratio 0.93 Sharpe Ratio 0.54 Information Ratio 0 Alpha Ratio 0 Min Investment 5,000 Min SIP Investment 500 Exit Load NIL Yield to Maturity 7.8% Effective Maturity 7 Months 21 Days Modified Duration 6 Months 18 Days Growth of 10,000 investment over the years.
Date Value 31 May 21 ₹10,000 31 May 22 ₹10,589 31 May 23 ₹11,218 31 May 24 ₹11,995 31 May 25 ₹12,872 31 May 26 ₹13,585 Returns for UTI Ultra Short Term Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 12 Jun 26 Duration Returns 1 Month 0.5% 3 Month 1.5% 6 Month 2.8% 1 Year 5.7% 3 Year 6.7% 5 Year 6.4% 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 Abhishek Sonthalia 10 Nov 25 0.56 Yr. Data below for UTI Ultra Short Term Fund as on 30 Apr 26
Asset Allocation
Asset Class Value Cash 69.5% Debt 30.19% Other 0.31% Debt Sector Allocation
Sector Value Corporate 53.73% Cash Equivalent 35.53% Government 10.44% Credit Quality
Rating Value AA 19.93% AAA 80.07% Top Securities Holdings / Portfolio
Name Holding Value Quantity Tbill
Sovereign Bonds | -7% ₹299 Cr 3,000,000,000 Kotak Mahindra Bank Ltd.
Debentures | -4% ₹171 Cr 1,750,000,000 Karur Vysya Bank Ltd.
Debentures | -3% ₹147 Cr 1,500,000,000
↑ 1,500,000,000 Shriram Finance Limited
Debentures | -2% ₹100 Cr 10,000 National Bank For Agriculture And Rural Development
Debentures | -2% ₹100 Cr 10,000 Small Industries Development Bank Of India
Debentures | -2% ₹100 Cr 10,000 Piramal Finance Limited
Debentures | -2% ₹85 Cr 8,500 Nuvama Wealth Finance Limited
Debentures | -2% ₹76 Cr 7,500
↑ 5,000 Piramal Finance Limited
Debentures | -2% ₹75 Cr 7,500 TATA Communications Limited
Debentures | -2% ₹75 Cr 7,500 3. Aditya Birla Sun Life Liquid Fund
Aditya Birla Sun Life Liquid Fund
Growth Launch Date 30 Mar 04 NAV (14 Jun 26) ₹445.71 ↑ 0.08 (0.02 %) Net Assets (Cr) ₹56,604 on 30 Apr 26 Category Debt - Liquid Fund AMC Birla Sun Life Asset Management Co Ltd Rating ☆☆☆☆ Risk Low Expense Ratio 0.34 Sharpe Ratio 2.18 Information Ratio 0 Alpha Ratio 0 Min Investment 5,000 Min SIP Investment 500 Exit Load NIL Yield to Maturity 7.73% Effective Maturity 2 Months 5 Days Modified Duration 2 Months 5 Days Growth of 10,000 investment over the years.
Date Value 31 May 21 ₹10,000 31 May 22 ₹10,345 31 May 23 ₹10,996 31 May 24 ₹11,793 31 May 25 ₹12,647 31 May 26 ₹13,424 Returns for Aditya Birla Sun Life Liquid Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 12 Jun 26 Duration Returns 1 Month 0.6% 3 Month 1.8% 6 Month 3.2% 1 Year 6.2% 3 Year 6.9% 5 Year 6.1% 10 Year 15 Year Since launch 7% Historical performance (Yearly) on absolute basis
Year Returns 2024 6.5% 2023 7.3% 2022 7.1% 2021 4.8% 2020 3.3% 2019 4.3% 2018 6.7% 2017 7.4% 2016 6.7% 2015 7.7% Fund Manager information for Aditya Birla Sun Life Liquid Fund
Name Since Tenure Sunaina Cunha 15 Jul 11 14.89 Yr. Kaustubh Gupta 15 Jul 11 14.89 Yr. Sanjay Pawar 1 Jul 22 3.92 Yr. Data below for Aditya Birla Sun Life Liquid Fund as on 30 Apr 26
Asset Allocation
Asset Class Value Cash 98.56% Debt 1.21% Other 0.23% Debt Sector Allocation
Sector Value Cash Equivalent 70.74% Corporate 18.02% Government 11.01% Credit Quality
Rating Value AA 0.16% AAA 99.84% Top Securities Holdings / Portfolio
Name Holding Value Quantity Tbill
Sovereign Bonds | -4% ₹2,438 Cr 244,000,000 India (Republic of)
- | -3% ₹2,127 Cr 215,312,800
↑ 215,312,800 India (Republic of)
- | -3% ₹1,995 Cr 200,000,000 India (Republic of)
- | -3% ₹1,554 Cr 157,397,500
↑ 157,397,500 Net Receivables / (Payables)
Net Current Assets | -2% -₹1,511 Cr Punjab National Bank
Debentures | -2% ₹1,218 Cr 24,500
↑ 24,500 Rbl Bank Limited
Certificate of Deposit | -2% ₹995 Cr 20,000
↑ 20,000 23/07/2026 Maturing 182 DTB
Sovereign Bonds | -2% ₹990 Cr 100,000,000
↑ 100,000,000 Bank of Baroda
Debentures | -2% ₹983 Cr 20,000
↑ 20,000 PNb Housing Finance Ltd
Commercial Paper | -2% ₹970 Cr 19,500 4. ICICI Prudential Ultra Short Term Fund
ICICI Prudential Ultra Short Term Fund
Growth Launch Date 3 May 11 NAV (12 Jun 26) ₹29.3177 ↑ 0.01 (0.03 %) Net Assets (Cr) ₹15,929 on 30 Apr 26 Category Debt - Ultrashort Bond AMC ICICI Prudential Asset Management Company Limited Rating ☆☆☆ Risk Moderate Expense Ratio 0.8 Sharpe Ratio 1.75 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 7.73% Effective Maturity 6 Months 29 Days Modified Duration 5 Months 16 Days Growth of 10,000 investment over the years.
Date Value 31 May 21 ₹10,000 31 May 22 ₹10,361 31 May 23 ₹11,003 31 May 24 ₹11,791 31 May 25 ₹12,687 31 May 26 ₹13,432 Returns for ICICI Prudential Ultra Short Term Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 12 Jun 26 Duration Returns 1 Month 0.5% 3 Month 1.6% 6 Month 2.9% 1 Year 6% 3 Year 7% 5 Year 6.1% 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 9.55 Yr. Ritesh Lunawat 15 Jun 17 8.97 Yr. Data below for ICICI Prudential Ultra Short Term Fund as on 30 Apr 26
Asset Allocation
Asset Class Value Cash 73.48% Debt 26.22% Other 0.3% Debt Sector Allocation
Sector Value Corporate 62.12% Cash Equivalent 40.21% Credit Quality
Rating Value AA 17.61% AAA 82.39% Top Securities Holdings / Portfolio
Name Holding Value Quantity Tbill
Sovereign Bonds | -6% ₹992 Cr 100,000,000 Bajaj Housing Finance Limited
Debentures | -2% ₹350 Cr 35,000
↑ 35,000 Vedanta Limited
Debentures | -2% ₹341 Cr 34,000
↓ -1,000 HDFC Bank Ltd.
Debentures | -2% ₹341 Cr 7,000 6.16% Govt Stock 2028
Sovereign Bonds | -2% ₹310 Cr 30,773,600 RADHAKRISHNA SECURITISATION TRUST
Unlisted bonds | -2% ₹296 Cr 300 Muthoot Finance Limited
Debentures | -2% ₹276 Cr 27,500 AU Small Finance Bank Ltd.
Debentures | -1% ₹239 Cr 5,000 Rec Limited
Debentures | -1% ₹235 Cr 23,500
↑ 2,500 Piramal Finance Limited
Debentures | -1% ₹231 Cr 23,000 5. ICICI Prudential Liquid Fund
ICICI Prudential Liquid Fund
Growth Launch Date 17 Nov 05 NAV (14 Jun 26) ₹409.25 ↑ 0.07 (0.02 %) Net Assets (Cr) ₹54,639 on 30 Apr 26 Category Debt - Liquid Fund AMC ICICI Prudential Asset Management Company Limited Rating ☆☆☆☆ Risk Low Expense Ratio 0.29 Sharpe Ratio 2.1 Information Ratio 0.33 Alpha Ratio -0.05 Min Investment 500 Min SIP Investment 99 Exit Load NIL Yield to Maturity 7.72% Effective Maturity 2 Months 1 Day Modified Duration 1 Month 25 Days Growth of 10,000 investment over the years.
Date Value 31 May 21 ₹10,000 31 May 22 ₹10,341 31 May 23 ₹10,981 31 May 24 ₹11,777 31 May 25 ₹12,628 31 May 26 ₹13,396 Returns for ICICI Prudential Liquid Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 12 Jun 26 Duration Returns 1 Month 0.6% 3 Month 1.7% 6 Month 3.2% 1 Year 6.1% 3 Year 6.9% 5 Year 6.1% 10 Year 15 Year Since launch 7.1% Historical performance (Yearly) on absolute basis
Year Returns 2024 6.5% 2023 7.4% 2022 7% 2021 4.8% 2020 3.2% 2019 4.3% 2018 6.6% 2017 7.4% 2016 6.6% 2015 7.7% Fund Manager information for ICICI Prudential Liquid Fund
Name Since Tenure Nikhil Kabra 1 Dec 23 2.5 Yr. Darshil Dedhia 12 Jun 23 2.97 Yr. Data below for ICICI Prudential Liquid Fund as on 30 Apr 26
Asset Allocation
Asset Class Value Cash 99.74% Other 0.26% Debt Sector Allocation
Sector Value Cash Equivalent 78.37% Corporate 11.06% Government 10.31% Credit Quality
Rating Value AAA 100% Top Securities Holdings / Portfolio
Name Holding Value Quantity Treps
CBLO/Reverse Repo | -9% ₹5,229 Cr India (Republic of)
- | -8% ₹4,478 Cr 450,000,000 Tbill
Sovereign Bonds | -5% ₹2,575 Cr 259,500,000 Citi Bank **
Net Current Assets | -4% ₹1,987 Cr 40,000 Union Bank of India
Debentures | -3% ₹1,492 Cr 30,000
↑ 30,000 Tata Steel Ltd.
Commercial Paper | -3% ₹1,448 Cr 29,000 Small Industries Dev Bank Of India
Commercial Paper | -2% ₹1,249 Cr 25,000 Bank of India Ltd.
Debentures | -2% ₹1,093 Cr 22,000 Reverse Repo (5/18/2026)
CBLO/Reverse Repo | -2% ₹1,000 Cr National Bank For Agriculture And Rural Development
Commercial Paper | -2% ₹991 Cr 20,000
Conclusion
To conclude, it can be said that both ultra short term funds and liquid funds have their own set of characteristics. However, people while choosing any scheme should check and ensure whether the scheme is in-line with their determined objective. They should also check the modalities of the scheme completely. Moreover, they may even consult a financial advisor if required to ensure that their investment helps them to attain their desired objectives.
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.
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Great alternative for FD - Fixed Deposit Investment. Nice article explains each fund very well.