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HDFC Ultra Short to Short Term Fund

Low DurationModerateOPEN-ENDED
Invest Now
NAV as on 25 Sep 2026
₹61.89-0.05%1 day
Return since launch
7.0%
52-week range
₹58.62 — ₹61.95
AUM
₹17,793 Cr

HDFC Ultra Short to Short Term Fund is a Low Duration debt fund from HDFC Mutual Fund with ₹17,793 Cr under management, launched in 1999. Over three years it has returned 6.4% a year, against 6.8% for its category. The expense ratio is 1.05% and the SEBI riskometer reading is Moderate.

Performance

Returns

How the fund has done against its category and its benchmark.

Trailing returns
PeriodFundvs categoryCategoryBenchmark
1Y5.6%−0.1 pts5.7%6.0%
2Y6.0%−0.1 pts6.2%6.2%
3Y6.4%−0.4 pts6.8%6.5%
5Y6.5%+0.4 pts6.1%6.6%
7Y6.3%0.0 pts6.3%6.2%
10Y6.3%+0.1 pts6.3%6.1%

Fund against category

1Y
Fund5.6%
Category5.7%
3Y
Fund6.4%
Category6.8%
5Y
Fund6.5%
Category6.1%

Since launch (18 Nov 1999): 7.0%

Calendar-year returns

Category average
Show as a table
Calendar-year returns
PeriodFundvs categoryCategory
20257.2%−0.6 pts7.8%
20247.3%−0.5 pts7.8%
20237.0%−0.3 pts7.4%
20224.1%−0.5 pts4.6%
20213.7%−0.9 pts4.6%
20208.1%−0.6 pts8.7%

Returns over one year are annualised. Shorter periods are absolute.

Costs & terms

Costs and terms

What the fund charges each year, and the rules around putting money in and taking it out.

Costs

1.05%

Expense ratio as on 24 Sep 2026

Charged yearly and already deducted from the NAV.

Base expense
0.89%
Brokerage
0.00%
Transaction charges
0.00%
Statutory levies
0.16%
Exit load
Exit load of 0.01% is applicable if investments is redeemed within 7 days.
Lock-in
None

Terms

Min SIP
₹3,000
Min lumpsum
₹5,000
Plan
GROWTH
Fund type
OPEN-ENDED
Benchmark
NIFTY Low Duration Debt Index A-I

Risk

Risk

What the riskometer means for this fund, and how its ratios sit against the category.

Moderate

Your principal is treated as being at moderate risk — typically medium duration debt and conservative hybrid schemes.

Risk ratios
RatioFundCategory avgRead as
Alpha——Return earned above what the benchmark alone would have given. Higher is better.
Beta——How hard the fund moves when the market moves. Under 1 is steadier than the market.
Sharpe1.361.93Return earned for each unit of total risk taken. Higher is better.
Sortino2.032.92Return earned for each unit of downside risk. Higher is better.
Std. deviation0.670.64How widely monthly returns have varied around their own average. Lower is steadier.
Average of 5 category peers

Portfolio

HDFC Ultra Short to Short Term Fund portfolio

Portfolio as of 31 Aug 2026

Asset allocation

  • Debt97.2%
  • Other2.8%

Top holdings

HoldingSectorWeightValue3M chg6M chg1Y chg
National Bank For Agriculture & Rural DevelopmentFinancial4.44%₹790 Cr+0.36%+0.30%+0.30%
Jubilant Beverages Ltd.Consumer Staples3.74%₹666 Cr+3.21%+2.52%+2.51%
OthersOthers3.23%₹573 Cr+1.05%+0.81%+0.78%
GOISovereign2.96%₹526 Cr+8.74%+9.32%+8.40%
Bajaj Housing Finance Ltd.Financial2.67%₹476 Cr+0.24%+0.20%+0.40%
National Housing BankFinancial2.65%₹472 Cr+2.33%+1.86%+0.80%
Yes Bank Ltd.Financial2.32%₹412 Cr+2.22%+1.73%—
Small Industries Devp. Bank of India Ltd.Financial1.99%₹353 Cr+0.20%+1.56%+10.72%
Power Finance Corporation Ltd.Financial1.96%₹350 Cr+1.96%+1.56%+1.12%
Radhakrishna Securitisation TrustOthers1.94%₹344 Cr+1.71%+1.38%—

Sectors

  • Financial63.7%
  • Others9.2%
  • Sovereign9.2%
  • Consumer Staples6.0%
  • Energy4.2%
  • Communication2.3%
  • Metals & Mining1.8%
  • Services1.3%

Instruments

  • Debenture37.9%
  • Non Convertible Debenture22.6%
  • Bonds13.1%
  • GOI Securities6.2%
  • Certificate of Deposit5.4%
  • Securitised Debt3.9%
  • GOI Securities Floating Rate Bond2.9%
  • Net Current Assets2.5%

Recent changes

HoldingFromToWeight
company:4420.00%1.10%+1.10%
UCO Bank1.02%0.00%-1.02%
Motilal Oswal Financial Services Ltd.1.36%0.68%-0.68%
National Bank For Agriculture & Rural Development0.14%0.68%+0.54%
REC Ltd.0.54%0.14%-0.40%
Sikka Ports and Terminals Ltd.0.33%0.00%-0.33%
Export-Import Bank Of India0.27%0.55%+0.28%
Jubilant Beverages Ltd.3.60%3.74%+0.14%
GOI2.82%2.93%+0.11%
National Housing Bank2.57%2.65%+0.08%
Radhakrishna Securitisation Trust1.86%1.94%+0.08%
JTPM Metal Traders Ltd.1.75%1.82%+0.07%
Jubilant Bevco Ltd.1.72%1.79%+0.07%
Aditya Birla Renewables Ltd.1.22%1.27%+0.05%
Indian Oil Corporation Ltd.1.39%1.44%+0.05%
Housing & Urban Development Corporation Ltd.1.07%1.11%+0.04%
IIFL Capital Services Ltd1.03%1.07%+0.04%
Nomura Capital (India) Pvt Ltd.1.08%1.12%+0.04%
Shriram Finance Ltd0.26%0.22%-0.04%
India Universal Trust AL10.04%0.00%-0.04%
Ascendas IT Park (Pune) Private Limited1.34%1.38%+0.04%
LIC Housing Finance Ltd.1.09%1.13%+0.04%
Yes Bank Ltd.2.35%2.32%-0.03%
Can Fin Homes Ltd.0.82%0.85%+0.03%
Citi Corp Finance Ltd0.78%0.81%+0.03%
Dhruva Trust0.50%0.47%-0.03%
JM Financial Credit Solutions Ltd.1.08%1.11%+0.03%
Jamnagar Utilities and Power Pvt. Ltd.0.87%0.90%+0.03%
Shivshakti Securitisation Trust0.80%0.83%+0.03%
Globe Capital Market Ltd.0.54%0.56%+0.02%
John Deere Financial India Pvt. Ltd.0.54%0.56%+0.02%
L&T Finance Ltd.0.52%0.54%+0.02%
National Highways Authority of India Ltd.0.70%0.72%+0.02%
Power Finance Corporation Ltd.0.54%0.56%+0.02%
Sundaram Home Finance Ltd.0.54%0.56%+0.02%
Bharti Telecom Ltd.0.40%0.42%+0.02%
RJ Corp Ltd.0.45%0.47%+0.02%
Reliance Industries Ltd.0.56%0.58%+0.02%
Arka Fincap Ltd.0.19%0.20%+0.01%
Bajaj Auto Credit Ltd.0.49%0.50%+0.01%
Bajaj Housing Finance Ltd.0.55%0.56%+0.01%
Bihar State0.52%0.53%+0.01%
Cholamandalam Investment and Finance Company Ltd.0.27%0.28%+0.01%
DLF Cyber City Developers Ltd.0.27%0.28%+0.01%
Fullerton India Home Finance Ltd.0.27%0.28%+0.01%
Globe Fincap Ltd.0.27%0.28%+0.01%
HDB Financial Services Ltd.0.19%0.20%+0.01%
ICICI Home Finance Company Ltd.0.27%0.28%+0.01%
JM Financial Home Loans Ltd.0.27%0.28%+0.01%
Jio Credit Ltd.0.27%0.28%+0.01%
Mahindra Rural Housing Finance Ltd.0.55%0.56%+0.01%
Muthoot Finance Ltd.0.41%0.42%+0.01%
Others0.39%0.40%+0.01%
Pipeline Infrastructure (India) Pvt. Ltd.0.41%0.42%+0.01%
Tata Capital Ltd.0.55%0.56%+0.01%
Tata Communications Ltd.0.54%0.55%+0.01%
Punjab State0.08%0.09%+0.01%
Small Industries Devp. Bank of India Ltd.0.05%0.06%+0.01%
Indigo Paints Ltd.0.15%0.14%-0.01%
Vajra Trust0.35%0.34%-0.01%
Tata Capital Housing Finance Ltd.0.00%0.00%0.00%
Tata Capital Financial Services Ltd.0.00%0.00%0.00%
360 ONE Wealth Ltd.0.14%0.14%0.00%
Andhra Pradesh State0.02%0.02%0.00%
Assam State0.01%0.01%0.00%
Goa State0.01%0.01%0.00%
Gujarat State0.02%0.02%0.00%
Indian Railway Finance Corporation Ltd.0.06%0.06%0.00%
Karnataka State0.01%0.01%0.00%
Kotak Mahindra Investments Ltd.0.11%0.11%0.00%
Mahindra & Mahindra Financial Services Ltd.0.14%0.14%0.00%
Poonawalla Fincorp Ltd.0.14%0.14%0.00%
Puducherry State0.03%0.03%0.00%
TVS Credit Services Ltd.0.14%0.14%0.00%
Tamilnadu State0.02%0.02%0.00%
Tata Cleantech Capital Ltd0.14%0.14%0.00%
Ultratech Cement Ltd.0.14%0.14%0.00%
Uttar Pradesh State0.03%0.03%0.00%
West Bengal State0.03%0.03%0.00%

Compare

Similar funds

The rest of the category, so this fund’s numbers have something to sit against.

FundAUMExpense1Y3Y5Y
Category average₹5,593 Cr0.45%6.2%6.8%6.9%
ICICI Prudential Ultra Short to Short Term Fund₹21,047 Cr0.53%6.2%7.0%7.1%
Tata Ultra Short to Short Term Fund₹2,871 Cr0.57%6.2%6.7%6.7%
UTI Ultra Short to Short Term Fund₹2,680 Cr0.48%6.2%6.9%6.9%
Aditya Birla Sun Life CRISIL-IBX Financial Services 9-12 Months Debt Index Fund₹1,228 Cr0.36%6.3%——
Mirae Asset CRISIL-IBX Financial Services 9-12 Months Debt Index Fund₹138 Cr0.29%6.2%——

About

About this fund

The scheme’s own words, its benchmark and the people running it.

Investment objective

The scheme seeks to generate income / capital appreciation through investment in debt securities and money market instruments.

Fund managers

  • Amar KalkundrikarMr. Kalkundrikar has done B.Com, CA, CFA, and MBA from Columbia Business School.Prior to joining HDFC Asset Management Company Limited, he has worked with Nippon India Mutual Fund, and HDFC AMC. He worked with multiple roles at HDFC MF.
  • Anupam JoshiMr. Joshi is a PGDM in Business Management.Prior to joining HDFC Mutual Fund he has worked with IDFC AMC, Principal Asset Management Company and ICAP India Pvt. Ltd.
  • Praveen JainMr. Jain has done CA and CFAPrior to joining HDFC Mutual Fund, he has worked with Larsen & Toubro Ltd and Tata Motors
Scheme information document

Tools

Return calculator

What ₹10,000 a month in this fund would have grown to over each period, based on its past returns.

₹
Over the pastTotal investmentWould’ve becomeGrowthReturns
6 months3.00% absolute₹60,000₹61,8003.00%
1 year5.58% annualised₹1,20,000₹1,23,6903.07%
3 years6.73% annualised₹3,60,000₹3,99,91611.09%
5 years6.09% annualised₹6,00,000₹7,02,86517.14%

Returns for 1 year and longer are annualised (CAGR); 6-month figures are absolute. Past returns are not a forecast.

How this is calculated

Each monthly instalment grows at the fund’s annualised return ÷ 12 per month until the end of the period, the same formula as our SIP calculator.

The amount compounds once a year at the fund’s CAGR for that period, the same formula as our lumpsum calculator.

Questions

Frequently asked questions

The things people ask about this scheme.

What is the NAV of HDFC Ultra Short to Short Term Fund?
The NAV of HDFC Ultra Short to Short Term Fund is ₹61.89 as on 25 Sep 2026.
What is the expense ratio of HDFC Ultra Short to Short Term Fund?
The expense ratio of HDFC Ultra Short to Short Term Fund is 1.05% per year.
What is the minimum SIP amount for HDFC Ultra Short to Short Term Fund?
You can start a SIP in HDFC Ultra Short to Short Term Fund with ₹3,000 a month.
What returns has HDFC Ultra Short to Short Term Fund given?
HDFC Ultra Short to Short Term Fund has returned 5.6% over 1 year, 6.4% over 3 years and 6.5% over 5 years (annualised).
Is there a lock-in or exit load on HDFC Ultra Short to Short Term Fund?
Lock-in: None. Exit load: Exit load of 0.01% is applicable if investments is redeemed within 7 days..
How risky is HDFC Ultra Short to Short Term Fund?
HDFC Ultra Short to Short Term Fund is rated Moderate on the SEBI riskometer and belongs to the Low Duration category.
Which fund house manages HDFC Ultra Short to Short Term Fund?
HDFC Ultra Short to Short Term Fund is managed by HDFC Mutual Fund, which runs 85 schemes with ₹9,61,940 Cr under management.