# Ultra Short Duration mutual funds compared

Source page: https://www.rudowealth.com/mutual-funds/category/ultra-short-duration-funds

Ultra short duration funds hold bonds and money market instruments with a portfolio Macaulay duration between 3 and 6 months. (SEBI categorisation of mutual fund schemes, 6 October 2017, as amended.)

All 26 ultra short duration 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 +7.2% a year, 5-year return +6.6% a year (both annualised), volatility over 3 years 0.5%, expense ratio 0.30%.

| Rank | Fund | 1Y | 3Y (annualised) | 5Y (annualised) | Volatility 3Y | Worst fall 5Y | Expense ratio | Fund size |
|---|---|---|---|---|---|---|---|---|
| 1 | [Nippon India Ultra Short Term Fund- Direct Plan- Growth Option](https://www.rudowealth.com/mutual-funds/nippon-india-ultra-short-duration-fund-direct-plan-growth-option) | +6.9% | +7.6% | +7.0% | 0.5% | -0.2% | 0.34% | ₹12,447 Cr |
| 2 | [Axis Ultra Short Duration Fund - Direct Plan Growth](https://www.rudowealth.com/mutual-funds/axis-ultra-short-duration-fund-direct-plan-growth) | +6.7% | +7.5% | +6.8% | 0.5% | -0.2% | 0.36% | ₹6,074 Cr |
| 3 | [Tata Ultra Short Term Fund-Direct Plan-Growth](https://www.rudowealth.com/mutual-funds/tata-ultra-short-term-fund-direct-plan-growth) | +7.0% | +7.5% | +6.8% | 0.5% | -0.2% | 0.33% | ₹6,495 Cr |
| 4 | [Aditya Birla Sun Life Ultra Short Term Fund - Growth - Direct Plan](https://www.rudowealth.com/mutual-funds/aditya-birla-sun-life-savings-fund-growth-direct-plan) | +6.6% | +7.5% | +6.8% | 0.6% | -0.3% | 0.32% | ₹18,819 Cr |
| 5 | [ICICI Prudential Ultra Short Term Fund - Direct Plan -  Growth](https://www.rudowealth.com/mutual-funds/icici-prudential-ultra-short-term-fund-direct-plan-growth) | +6.6% | +7.4% | +6.8% | 0.5% | -0.2% | 0.41% | ₹15,974 Cr |
| 6 | [Mirae Asset Ultra Short-Term Fund Direct Growth](https://www.rudowealth.com/mutual-funds/mirae-asset-ultra-short-duration-fund-direct-growth) | +6.7% | +7.4% | +6.7% | 0.5% | -0.2% | 0.23% | ₹2,066 Cr |
| 7 | [DSP Ultra Short Term Fund - Direct Plan - Growth](https://www.rudowealth.com/mutual-funds/dsp-ultra-short-fund-direct-plan-growth) | +6.7% | +7.4% | +6.7% | 0.5% | -0.2% | 0.30% | ₹4,599 Cr |
| 8 | [Baroda BNP Paribas Ultra Short Term Fund- Direct Plan- Growth](https://www.rudowealth.com/mutual-funds/baroda-bnp-paribas-ultra-short-duration-fund-direct-plan-growth) | +6.6% | +7.2% | +6.7% | 0.5% | -0.3% | 0.29% | ₹666 Cr |
| 9 | [UTI Ultra Short Term Fund - Direct Plan - Growth Option](https://www.rudowealth.com/mutual-funds/uti-ultra-short-duration-fund-direct-plan-growth-option) | +6.6% | +7.3% | +6.7% | 0.5% | -0.2% | 0.40% | ₹3,348 Cr |
| 10 | [Invesco India Ultra Short Term Fund - Direct Plan - Growth](https://www.rudowealth.com/mutual-funds/invesco-india-ultra-short-duration-fund-direct-plan-growth) | +6.7% | +7.3% | +6.7% | 0.5% | -0.3% | 0.27% | ₹1,497 Cr |
| 11 | [Sundaram Ultra Short Term Fund - Direct Plan -Growth Option](https://www.rudowealth.com/mutual-funds/sundaram-ultra-short-duration-fund-direct-plan-growth-option) | +6.5% | +7.3% | +6.7% | 0.5% | -0.2% | 0.23% | ₹2,416 Cr |
| 12 | [Mahindra Manulife Ultra Short Duration Fund - Direct Plan -Growth](https://www.rudowealth.com/mutual-funds/mahindra-manulife-ultra-short-duration-fund-direct-plan-growth) | +6.6% | +7.3% | +6.6% | 0.5% | -0.2% | 0.31% | ₹222 Cr |
| 13 | [Kotak Ultra Short Term Fund-Growth - Direct](https://www.rudowealth.com/mutual-funds/kotak-savings-fund-growth-direct) | +6.5% | +7.2% | +6.6% | 0.5% | -0.3% | 0.36% | ₹15,962 Cr |
| 14 | [HDFC Ultra Short Term Fund - Direct Plan-Growth Option](https://www.rudowealth.com/mutual-funds/hdfc-ultra-short-term-fund-direct-plan-growth-option) | +6.4% | +7.2% | +6.6% | 0.5% | -0.2% | 0.39% | ₹17,465 Cr |
| 15 | [HSBC Ultra Short Term Fund - Direct Growth](https://www.rudowealth.com/mutual-funds/hsbc-ultra-short-duration-fund-direct-growth) | +6.5% | +7.2% | +6.6% | 0.5% | -0.2% | 0.18% | ₹3,628 Cr |
| 16 | [PGIM India Ultra Short Term Fund - Direct Plan - Growth](https://www.rudowealth.com/mutual-funds/pgim-india-ultra-short-duration-fund-direct-plan-growth) | +6.3% | +7.1% | +6.5% | 0.5% | -0.2% | 0.34% | ₹211 Cr |
| 17 | [SBI Ultra Short Term Fund - Direct Plan - Growth](https://www.rudowealth.com/mutual-funds/sbi-ultra-short-duration-fund-direct-plan-growth) | +6.4% | +7.2% | +6.5% | 0.5% | -0.3% | 0.35% | ₹11,880 Cr |
| 18 | [Bandhan Ultra Short Term Fund - Direct Plan Growth](https://www.rudowealth.com/mutual-funds/bandhan-ultra-short-duration-fund-direct-plan-growth) | +6.5% | +7.2% | +6.5% | 0.5% | -0.3% | 0.30% | ₹4,180 Cr |
| 19 | [ITI Ultra Short Term Fund - Direct Plan - Growth Option](https://www.rudowealth.com/mutual-funds/iti-ultra-short-duration-fund-direct-plan-growth-option) | +6.4% | +7.1% | +6.4% | 0.4% | -0.2% | 0.21% | ₹165 Cr |
| 20 | [WhiteOak Capital Ultra Short Term Fund- Direct plan-Growth Option](https://www.rudowealth.com/mutual-funds/whiteoak-capital-ultra-short-duration-fund-direct-plan-growth-option) | +6.4% | +7.0% | +6.4% | 0.5% | -0.2% | 0.27% | ₹584 Cr |
| 21 | [Canara Robeco Ultra Short Term Fund - Direct Plan - Growth Option](https://www.rudowealth.com/mutual-funds/canara-robeco-ultra-short-term-fund-direct-plan-growth-option) | +6.5% | +7.1% | +6.3% | 0.5% | -0.2% | 0.36% | ₹582 Cr |
| 22 | [LIC MF Ultra Short Term Fund-Direct Plan-Growth](https://www.rudowealth.com/mutual-funds/lic-mf-ultra-short-duration-fund-direct-plan-growth) | +6.7% | +7.3% | +6.3% | 0.5% | -0.1% | 0.25% | ₹678 Cr |
| 23 | [Bank of India Ultra Short Term Fund- Direct Plan- Growth](https://www.rudowealth.com/mutual-funds/bank-of-india-ultra-short-duration-fund-direct-plan-growth) | +6.4% | +6.9% | +6.3% | 0.5% | -0.2% | 0.45% | ₹184 Cr |
| 24 | [Motilal Oswal Ultra Short Term Fund -Direct Plan- Growth](https://www.rudowealth.com/mutual-funds/motilal-oswal-ultra-short-term-fund-mofustf-direct-plan-growth) | +6.2% | +6.4% | +5.8% | 0.4% | -0.2% | 0.25% | ₹524 Cr |
| 25 | [Franklin India Ultra Short Duration Fund - Direct - Growth](https://www.rudowealth.com/mutual-funds/franklin-india-ultra-short-duration-fund-direct-growth) | +6.5% | N/A | N/A | N/A | N/A | 0.29% | ₹281 Cr |
| 26 | [Edelweiss Ultra Short Term Fund Direct Growth Plan](https://www.rudowealth.com/mutual-funds/edelweiss-ultra-short-term-fund-direct-growth-plan) | N/A | N/A | N/A | N/A | N/A | 0.12% | ₹897 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.

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