# Overnight mutual funds compared

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

Overnight funds hold securities that mature in one day, so their value barely moves. (SEBI categorisation of mutual fund schemes, 6 October 2017, as amended.)

All 39 overnight 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 +6.0% a year, 5-year return +5.7% a year (both annualised), volatility over 3 years 0.3%, expense ratio 0.11%.

| Rank | Fund | 1Y | 3Y (annualised) | 5Y (annualised) | Volatility 3Y | Worst fall 5Y | Expense ratio | Fund size |
|---|---|---|---|---|---|---|---|---|
| 1 | [Bank of India Overnight Fund Direct Plan Growth](https://www.rudowealth.com/mutual-funds/bank-of-india-overnight-fund-direct-plan-growth) | +5.5% | +6.2% | +5.9% | 0.3% | 0.0% | 0.09% | ₹109 Cr |
| 2 | [Axis Overnight Fund - Direct Plan - Growth Option](https://www.rudowealth.com/mutual-funds/axis-overnight-fund-direct-plan-growth-option) | +5.3% | +6.1% | +5.8% | 0.3% | 0.0% | 0.09% | ₹11,325 Cr |
| 3 | [Nippon India Overnight Fund - Direct Plan - Growth Option](https://www.rudowealth.com/mutual-funds/nippon-india-overnight-fund-direct-plan-growth-option) | +5.3% | +6.1% | +5.8% | 0.3% | 0.0% | 0.10% | ₹8,548 Cr |
| 4 | [Mirae Asset Overnight Fund Direct Plan Growth](https://www.rudowealth.com/mutual-funds/mirae-asset-overnight-fund-direct-plan-growth) | +5.3% | +6.1% | +5.8% | 0.3% | 0.0% | 0.09% | ₹1,727 Cr |
| 5 | [Tata Overnight Fund-Direct Plan-Growth](https://www.rudowealth.com/mutual-funds/tata-overnight-fund-direct-plan-growth) | +5.3% | +6.1% | +5.8% | 0.3% | 0.0% | 0.09% | ₹4,571 Cr |
| 6 | [HSBC Overnight Fund - Direct Growth](https://www.rudowealth.com/mutual-funds/hsbc-overnight-fund-direct-growth) | +5.3% | +6.1% | +5.8% | 0.3% | 0.0% | 0.07% | ₹4,535 Cr |
| 7 | [Kotak Overnight Fund -Direct Plan-Growth Option](https://www.rudowealth.com/mutual-funds/kotak-overnight-fund-direct-plan-growth-option) | +5.3% | +6.1% | +5.7% | 0.3% | 0.0% | 0.09% | ₹8,618 Cr |
| 8 | [DSP Overnight Fund - Direct Plan - Growth](https://www.rudowealth.com/mutual-funds/dsp-overnight-fund-direct-plan-growth) | +5.3% | +6.1% | +5.7% | 0.3% | 0.0% | 0.11% | ₹2,854 Cr |
| 9 | [LIC MF Overnight Fund-Direct Plan-Growth](https://www.rudowealth.com/mutual-funds/lic-mf-overnight-fund-direct-plan-growth) | +5.3% | +6.1% | +5.7% | 0.3% | 0.0% | 0.09% | ₹732 Cr |
| 10 | [Baroda BNP Paribas Overnight Fund - Direct Plan - Growth](https://www.rudowealth.com/mutual-funds/baroda-bnp-paribas-overnight-fund-direct-plan-growth) | +5.3% | +6.1% | +5.7% | 0.3% | 0.0% | 0.07% | ₹852 Cr |
| 11 | [Aditya Birla Sun life Overnight Fund-Direct Plan-Growth](https://www.rudowealth.com/mutual-funds/aditya-birla-sun-life-overnight-fund-direct-plan-growth) | +5.2% | +6.0% | +5.7% | 0.3% | 0.0% | 0.09% | ₹10,464 Cr |
| 12 | [Mahindra Manulife Overnight Fund - Direct Plan -Growth](https://www.rudowealth.com/mutual-funds/mahindra-manulife-overnight-fund-direct-plan-growth) | +5.2% | +6.0% | +5.7% | 0.3% | 0.0% | 0.10% | ₹77 Cr |
| 13 | [Bandhan Overnight Fund - Direct Plan - Growth](https://www.rudowealth.com/mutual-funds/bandhan-overnight-fund-direct-plan-growth) | +5.3% | +6.1% | +5.7% | 0.3% | 0.0% | 0.07% | ₹1,160 Cr |
| 14 | [UTI Overnight Fund - Direct Plan - Growth Option](https://www.rudowealth.com/mutual-funds/uti-overnight-fund-direct-plan-growth-option) | +5.3% | +6.1% | +5.7% | 0.3% | 0.0% | 0.09% | ₹5,648 Cr |
| 15 | [Union Overnight Fund - Direct Plan - Growth Option](https://www.rudowealth.com/mutual-funds/union-overnight-fund-direct-plan-growth-option) | +5.3% | +6.0% | +5.7% | 0.3% | 0.0% | 0.14% | ₹411 Cr |
| 16 | [Invesco India Overnight Fund - Direct Plan - Growth](https://www.rudowealth.com/mutual-funds/invesco-india-overnight-fund-direct-plan-growth) | +5.3% | +6.1% | +5.7% | 0.3% | 0.0% | 0.08% | ₹343 Cr |
| 17 | [Sundaram Overnight Fund Direct Plan - Growth](https://www.rudowealth.com/mutual-funds/sundaram-overnight-fund-direct-plan-growth) | +5.2% | +6.0% | +5.7% | 0.3% | 0.0% | 0.08% | ₹1,335 Cr |
| 18 | [Franklin India Overnight Fund- Growth - Direct](https://www.rudowealth.com/mutual-funds/franklin-india-overnight-fund-growth-direct) | +5.3% | +6.0% | +5.7% | 0.3% | 0.0% | 0.07% | ₹685 Cr |
| 19 | [SBI Overnight Fund - Direct Plan - Growth](https://www.rudowealth.com/mutual-funds/sbi-overnight-fund-direct-plan-growth) | +5.2% | +6.0% | +5.7% | 0.3% | 0.0% | 0.09% | ₹23,407 Cr |
| 20 | [PGIM India Overnight Fund - Direct Plan - Growth Option](https://www.rudowealth.com/mutual-funds/pgim-india-overnight-fund-direct-plan-growth-option) | +5.1% | +6.0% | +5.7% | 0.3% | 0.0% | 0.18% | ₹153 Cr |
| 21 | [HDFC Overnight Fund - Growth Option - Direct Plan](https://www.rudowealth.com/mutual-funds/hdfc-overnight-fund-growth-option-direct-plan) | +5.2% | +6.0% | +5.7% | 0.3% | 0.0% | 0.11% | ₹12,190 Cr |
| 22 | [Edelweiss Overnight Fund - Direct Plan - Growth](https://www.rudowealth.com/mutual-funds/edelweiss-overnight-fund-direct-plan-growth) | +5.2% | +6.0% | +5.7% | 0.3% | 0.0% | 0.11% | ₹192 Cr |
| 23 | [Canara Robeco Overnight Fund - Direct Plan - Growth Option](https://www.rudowealth.com/mutual-funds/canara-robeco-overnight-fund-direct-plan-growth-option) | +5.2% | +6.0% | +5.7% | 0.3% | 0.0% | 0.08% | ₹737 Cr |
| 24 | [JM Overnight Fund - Direct - Growth](https://www.rudowealth.com/mutual-funds/jm-overnight-fund-direct-growth) | +5.1% | +5.9% | +5.7% | 0.3% | 0.0% | 0.12% | ₹148 Cr |
| 25 | [Groww Overnight Fund- Direct Plan- Growth Option](https://www.rudowealth.com/mutual-funds/groww-overnight-fund-direct-plan-growth-option) | +5.2% | +6.0% | +5.6% | 0.3% | 0.0% | 0.17% | ₹12 Cr |
| 26 | [ITI Overnight Fund - Direct Plan - Growth Option](https://www.rudowealth.com/mutual-funds/iti-overnight-fund-direct-plan-growth-option) | +5.0% | +5.8% | +5.5% | 0.3% | 0.0% | 0.17% | ₹14 Cr |
| 27 | [Quant Overnight Fund - Growth Option - Direct Plan](https://www.rudowealth.com/mutual-funds/quant-overnight-fund-growth-option-direct-plan) | +5.0% | +6.1% | N/A | 0.4% | N/A | 0.19% | ₹58 Cr |
| 28 | [Bajaj Finserv Overnight Fund - Direct Plan - Growth](https://www.rudowealth.com/mutual-funds/bajaj-finserv-overnight-fund-direct-plan-growth) | +5.3% | +6.1% | N/A | 0.3% | N/A | 0.12% | ₹653 Cr |
| 29 | [ICICI Prudential Overnight Fund - Direct Plan - Growth](https://www.rudowealth.com/mutual-funds/icici-prudential-overnight-fund-direct-plan-growth) | +5.3% | +6.0% | N/A | 0.3% | N/A | 0.09% | ₹14,368 Cr |
| 30 | [NJ Overnight Fund - Direct Plan - Growth Option](https://www.rudowealth.com/mutual-funds/nj-overnight-fund-direct-plan-growth-option) | +5.2% | +6.0% | N/A | 0.3% | N/A | 0.08% | ₹348 Cr |
| 31 | [TRUSTMF Overnight Fund-Direct Plan-Growth](https://www.rudowealth.com/mutual-funds/trust-mf-overnight-fund-direct-plan-growth) | +5.1% | +6.0% | N/A | 0.3% | N/A | 0.11% | ₹31 Cr |
| 32 | [Samco Overnight Fund - Direct Plan - Growth Option](https://www.rudowealth.com/mutual-funds/samco-overnight-fund-direct-plan-growth-option) | +5.0% | +5.8% | N/A | 0.3% | N/A | 0.23% | ₹28 Cr |
| 33 | [360 ONE Overnight Fund - Direct Plan - Growth](https://www.rudowealth.com/mutual-funds/360-one-overnight-fund-direct-plan-growth) | +5.3% | N/A | N/A | N/A | N/A | 0.13% | ₹126 Cr |
| 34 | [JioBlackRock Overnight Fund - Direct Plan - Growth Option](https://www.rudowealth.com/mutual-funds/jioblackrock-overnight-fund-direct-plan-growth-option) | +5.3% | N/A | N/A | N/A | N/A | 0.12% | ₹786 Cr |
| 35 | [Zerodha Overnight Fund - Direct Plan - Growth Option](https://www.rudowealth.com/mutual-funds/zerodha-overnight-fund-direct-plan-growth-option) | +5.1% | N/A | N/A | N/A | N/A | 0.13% | ₹94 Cr |
| 36 | [Helios Overnight Fund Direct Plan - Growth Option](https://www.rudowealth.com/mutual-funds/helios-overnight-fund-direct-plan-growth-option) | +5.1% | N/A | N/A | 0.3% | N/A | 0.17% | ₹294 Cr |
| 37 | [Choice Overnight Fund - Growth Option - Direct Plan](https://www.rudowealth.com/mutual-funds/choice-overnight-fund-growth-option-direct-plan) | N/A | N/A | N/A | N/A | N/A | 0.11% | ₹152 Cr |
| 38 | [Monarch Overnight Fund- Direct Plan- Growth](https://www.rudowealth.com/mutual-funds/monarch-overnight-fund-direct-plan-growth) | N/A | N/A | N/A | N/A | N/A | 0.00% | ₹0 Cr |
| 39 | [Shriram Overnight Fund- Direct Growth](https://www.rudowealth.com/mutual-funds/shriram-overnight-fund-direct-growth-154394) | N/A | N/A | N/A | N/A | N/A | 0.19% | ₹57 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.