# Money Market mutual funds compared

Source page: https://www.rudowealth.com/mutual-funds/category/money-market-funds

Money market funds hold money market instruments that mature within one year. (SEBI categorisation of mutual fund schemes, 6 October 2017, as amended.)

All 27 money market funds, Direct plan, Growth option, NAV as of 2026-10-07. Every figure is worked out from each fund's own NAV.

Category averages: 3-year return +7.3% a year, 5-year return +6.7% a year (both annualised), volatility over 3 years 0.6%, expense ratio 0.17%.

| Rank | Fund | 1Y | 3Y (annualised) | 5Y (annualised) | Volatility 3Y | Worst fall 5Y | Expense ratio | Fund size |
|---|---|---|---|---|---|---|---|---|
| 1 | [Tata Money Market Fund- Direct Plan- Growth](https://www.rudowealth.com/mutual-funds/tata-money-market-fund-direct-plan-growth) | +6.6% | +7.5% | +6.9% | 0.6% | -0.3% | 0.18% | ₹34,511 Cr |
| 2 | [Nippon India Money Market Fund - Direct Plan Growth Plan - Growth Option](https://www.rudowealth.com/mutual-funds/nippon-india-money-market-fund-direct-plan-growth-plan-growth-option) | +6.5% | +7.4% | +6.8% | 0.6% | -0.2% | 0.22% | ₹23,624 Cr |
| 3 | [Axis Money Market Fund - Direct Plan - Growth Option](https://www.rudowealth.com/mutual-funds/axis-money-market-fund-direct-plan-growth-option) | +6.6% | +7.5% | +6.8% | 0.6% | -0.2% | 0.16% | ₹21,405 Cr |
| 4 | [Aditya Birla Sun Life Money Market Fund - Growth - Direct Plan](https://www.rudowealth.com/mutual-funds/aditya-birla-sun-life-money-manager-fund-growth-direct-plan) | +6.5% | +7.4% | +6.8% | 0.6% | -0.3% | 0.22% | ₹29,877 Cr |
| 5 | [UTI Money Market Fund - Direct Plan - Growth Option](https://www.rudowealth.com/mutual-funds/uti-mmf-direct-plan-growth-option) | +6.5% | +7.4% | +6.8% | 0.6% | -0.2% | 0.15% | ₹19,468 Cr |
| 6 | [HDFC Money Market Fund - Growth Option - Direct Plan](https://www.rudowealth.com/mutual-funds/hdfc-money-market-fund-growth-option-direct-plan) | +6.5% | +7.4% | +6.8% | 0.6% | -0.2% | 0.22% | ₹33,192 Cr |
| 7 | [Kotak Money Market Fund - Growth - Direct](https://www.rudowealth.com/mutual-funds/kotak-money-market-fund-growth-direct) | +6.6% | +7.4% | +6.7% | 0.6% | -0.2% | 0.16% | ₹29,764 Cr |
| 8 | [ICICI Prudential Money Market Fund Option - Direct Plan -  Growth](https://www.rudowealth.com/mutual-funds/icici-prudential-money-market-fund-option-direct-plan-growth) | +6.5% | +7.4% | +6.7% | 0.6% | -0.2% | 0.21% | ₹36,529 Cr |
| 9 | [Bandhan Money Market Fund -Direct Plan-Growth](https://www.rudowealth.com/mutual-funds/bandhan-money-market-fund-direct-plan-growth) | +6.6% | +7.4% | +6.7% | 0.6% | -0.2% | 0.10% | ₹15,338 Cr |
| 10 | [SBI Money Market Fund - Direct Plan - Growth](https://www.rudowealth.com/mutual-funds/sbi-savings-fund-direct-plan-growth) | +6.4% | +7.3% | +6.7% | 0.6% | -0.3% | 0.26% | ₹32,208 Cr |
| 11 | [Franklin India Money Market Fund - Direct - Growth](https://www.rudowealth.com/mutual-funds/franklin-india-money-market-fund-direct-growth) | +6.5% | +7.4% | +6.7% | 0.6% | -0.3% | 0.14% | ₹3,937 Cr |
| 12 | [Mirae Asset Money Market Fund Direct Growth](https://www.rudowealth.com/mutual-funds/mirae-asset-money-market-fund-direct-growth) | +6.4% | +7.4% | +6.6% | 0.6% | -0.2% | 0.11% | ₹3,587 Cr |
| 13 | [PGIM India Money Market Fund - Direct Plan - Growth Option](https://www.rudowealth.com/mutual-funds/pgim-india-money-market-fund-direct-plan-growth-option) | +6.3% | +7.2% | +6.6% | 0.6% | -0.1% | 0.16% | ₹125 Cr |
| 14 | [HSBC Money Market Fund - Direct Growth](https://www.rudowealth.com/mutual-funds/hsbc-money-market-fund-direct-growth) | +6.5% | +7.3% | +6.6% | 0.6% | -0.3% | 0.16% | ₹6,993 Cr |
| 15 | [Sundaram Money Market Fund Direct Plan - Growth](https://www.rudowealth.com/mutual-funds/sundaram-money-market-fund-direct-plan-growth) | +6.5% | +7.3% | +6.6% | 0.6% | -0.1% | 0.20% | ₹1,719 Cr |
| 16 | [Union Money Market Fund - Direct Plan -  Growth Option](https://www.rudowealth.com/mutual-funds/union-money-market-fund-direct-plan-growth-option) | +6.8% | +7.2% | +6.5% | 0.5% | -0.1% | 0.18% | ₹1,482 Cr |
| 17 | [Edelweiss Money Market Fund - Direct Plan - Growth Option](https://www.rudowealth.com/mutual-funds/edelweiss-money-market-fund-direct-plan-growth-option) | +6.6% | +7.3% | +6.5% | 0.6% | -0.3% | 0.11% | ₹2,322 Cr |
| 18 | [Invesco India Money Market Fund - Direct Plan - Growth](https://www.rudowealth.com/mutual-funds/invesco-india-money-market-fund-direct-plan-growth) | +6.5% | +7.3% | +6.5% | 0.6% | -0.5% | 0.16% | ₹6,607 Cr |
| 19 | [DSP Money Market Fund - Direct Plan - Growth](https://www.rudowealth.com/mutual-funds/dsp-savings-fund-direct-plan-growth) | +6.5% | +7.2% | +6.5% | 0.6% | -0.6% | 0.18% | ₹10,992 Cr |
| 20 | [Baroda BNP Paribas Money Market Fund- Direct Plan - Growth](https://www.rudowealth.com/mutual-funds/baroda-bnp-paribas-money-market-fund-direct-plan-growth) | +6.5% | +7.3% | +6.5% | 0.6% | -0.2% | 0.17% | ₹3,626 Cr |
| 21 | [Bajaj Finserv Money Market Fund-Direct Plan-Growth](https://www.rudowealth.com/mutual-funds/bajaj-finserv-money-market-fund-direct-plan-growth) | +6.5% | +7.4% | N/A | 0.6% | N/A | 0.13% | ₹5,326 Cr |
| 22 | [TRUSTMF Money Market Fund-Direct Plan-Growth](https://www.rudowealth.com/mutual-funds/trust-mf-money-market-fund-direct-plan-growth) | +6.4% | +7.2% | N/A | 0.5% | N/A | 0.16% | ₹164 Cr |
| 23 | [LIC MF Money Market Fund-Direct Growth](https://www.rudowealth.com/mutual-funds/lic-mf-money-market-fund-direct-growth) | +6.6% | +6.8% | N/A | 0.5% | N/A | 0.17% | ₹4,216 Cr |
| 24 | [Bank of India Money Market Fund - Direct - Growth](https://www.rudowealth.com/mutual-funds/bank-of-india-money-market-fund-direct-growth) | +6.6% | N/A | N/A | N/A | N/A | 0.18% | ₹443 Cr |
| 25 | [JioBlackRock Money Market Fund - Direct Plan - Growth Option](https://www.rudowealth.com/mutual-funds/jioblackrock-money-market-fund-direct-plan-growth-option) | +6.4% | N/A | N/A | N/A | N/A | 0.16% | ₹3,463 Cr |
| 26 | [Groww Money Market Fund Direct Growth](https://www.rudowealth.com/mutual-funds/groww-money-market-fund-direct-growth) | N/A | N/A | N/A | N/A | N/A | 0.25% | ₹62 Cr |
| 27 | [Shriram Money Market Fund - Direct Plan Growth Option](https://www.rudowealth.com/mutual-funds/shriram-money-market-fund-direct-plan-growth-option) | N/A | N/A | N/A | N/A | N/A | 0.12% | ₹101 Cr |

Ordered by 5-year annualised return, highest first; funds younger than 5 years follow by 3-year, then 1-year return. Volatility is the annualised standard deviation of monthly returns. Worst fall is the largest drop from a peak in the last 5 years. We do not label any fund as the best.

Investing from the UAE: NRIs can generally invest once KYC is complete, paying from an NRE or NRO bank account. Some fund houses do not accept residents of the United States or Canada. The UAE does not levy personal income tax, and the India UAE tax treaty may affect how gains are treated, so confirm your own position with a tax adviser.

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RuDo Wealth is a fee-only cross-border advisory operating through two separate companies. India: RuDo Wealth Investment Advisory, SEBI Registered Investment Adviser, registration INA000019503. UAE: RuDo Digital Wealth, FSRA Financial Services Permission 220155, Category 3C (Retail), ADGM. The entity permitted to serve you depends on your country of residence.

General information, not a recommendation to buy or sell any fund. Past performance does not indicate future returns.