HDFC Ultra Short to Short Term Fund
Low DurationModerateOPEN-ENDED
- NAV as on 9 Nov 2026
- ₹62.20+0.07%1 day
- Return since launch
- 7.0%
- 52-week range
- ₹59.08 — ₹62.16
- AUM
- ₹15,276 Cr
HDFC Ultra Short to Short Term Fund is a Low Duration debt fund from HDFC Mutual Fund with ₹15,276 Cr under management, launched in 1999. Over three years it has returned 6.2% a year, against 6.7% for its category. The expense ratio is 1.03% and the SEBI riskometer reading is Moderate.
Performance
HDFC Ultra Short to Short Term Fund NAV and returns
Growth of the fund against its category average over the period you pick.
Over 1Y this fund returned +5.2% against +5.5% for its category.
Performance
Returns
How the fund has done against its category and its benchmark.
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1Y | 5.2% | −0.3 pts | 5.4% | 5.6% |
| 2Y | 5.7% | −0.2 pts | 5.9% | 6.0% |
| 3Y | 6.2% | −0.5 pts | 6.7% | 6.3% |
| 5Y | 6.5% | +0.4 pts | 6.1% | 6.5% |
| 7Y | 6.2% | 0.0 pts | 6.2% | 6.1% |
| 10Y | 6.3% | +0.1 pts | 6.2% | 6.1% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | 0.3% | 0.0 pts | 0.3% | 0.3% |
| 3M | 0.9% | −0.1 pts | 1.1% | 1.1% |
| 6M | 2.7% | −0.2 pts | 2.9% | 3.0% |
| 1Y | 5.2% | −0.2 pts | 5.4% | 5.5% |
| 2Y | 6.3% | −0.1 pts | 6.4% | 6.4% |
| 3Y | 6.7% | 0.0 pts | 6.7% | 6.7% |
| 5Y | 6.1% | 0.0 pts | 6.1% | 6.1% |
| 7Y | 6.1% | 0.0 pts | 6.2% | 5.9% |
| 10Y | 6.4% | +0.2 pts | 6.2% | 6.2% |
Since launch (18 Nov 1999): 7.0%
Calendar-year returns
Category average8.1%
3.7%
4.1%
7.0%
7.3%
7.2%
Show as a table
| Period | Fund | vs category | Category |
|---|---|---|---|
| 2025 | 7.2% | −0.6 pts | 7.8% |
| 2024 | 7.3% | −0.5 pts | 7.8% |
| 2023 | 7.0% | −0.3 pts | 7.4% |
| 2022 | 4.1% | −0.5 pts | 4.6% |
| 2021 | 3.7% | −0.9 pts | 4.6% |
| 2020 | 8.1% | −0.6 pts | 8.7% |
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
1.03%
Expense ratio as on 4 Nov 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 0.87%
- 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.
| Ratio | Fund | Category avg | Read as |
|---|---|---|---|
| Alpha | — | — | Return earned above what the benchmark alone would have given. Higher is better. |
| Beta | — | 1.09 | How hard the fund moves when the market moves. Under 1 is steadier than the market. |
| Sharpe | 1.19 | 1.76 | Return earned for each unit of total risk taken. Higher is better. |
| Sortino | 1.69 | 2.43 | Return earned for each unit of downside risk. Higher is better. |
| Std. deviation | 0.72 | 0.69 | How 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 30 Sep 2026
Asset allocation
- Debt96.9%
- Other3.1%
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| National Bank For Agriculture & Rural Development | Financial | 4.77% | ₹789 Cr | +0.42% | +0.33% | +0.30% |
| Jubilant Beverages Ltd. | Consumer Staples | 4.05% | ₹669 Cr | +3.63% | +2.92% | +2.55% |
| GOI | Sovereign | 3.19% | ₹526 Cr | +5.70% | +9.40% | +8.92% |
| Bajaj Housing Finance Ltd. | Financial | 2.87% | ₹474 Cr | +1.10% | +0.22% | +0.42% |
| National Housing Bank | Financial | 2.86% | ₹472 Cr | +2.60% | +2.14% | +0.81% |
| Yes Bank Ltd. | Financial | 2.21% | ₹366 Cr | +2.36% | +2.02% | — |
| Small Industries Devp. Bank of India Ltd. | Financial | 2.14% | ₹354 Cr | +0.20% | +1.80% | +1.64% |
| Others | Others | 2.12% | ₹338 Cr | +1.17% | +0.96% | +0.78% |
| Power Finance Corporation Ltd. | Financial | 2.12% | ₹349 Cr | +2.20% | +1.80% | +1.16% |
| Radhakrishna Securitisation Trust | Others | 2.02% | ₹334 Cr | +1.88% | +1.55% | +1.44% |
| JTPM Metal Traders Ltd. | Metals & Mining | 1.96% | ₹324 Cr | +1.76% | +1.41% | +1.23% |
| Jubilant Bevco Ltd. | Consumer Staples | 1.94% | ₹321 Cr | +1.74% | +1.40% | +1.22% |
| JM Financial Credit Solutions Ltd. | Financial | 1.80% | ₹298 Cr | +2.18% | +1.78% | +1.62% |
| Indian Oil Corporation Ltd. | Energy | 1.69% | ₹280 Cr | +2.82% | +2.32% | +2.12% |
| Ascendas IT Park (Pune) Private Limited | Others | 1.48% | ₹245 Cr | +1.36% | +1.11% | — |
| Reliance Industries Ltd. | Energy | 1.40% | ₹230 Cr | +1.14% | +0.94% | — |
| Aditya Birla Renewables Ltd. | Energy | 1.36% | ₹225 Cr | +1.65% | +1.81% | +1.66% |
| Nomura Capital (India) Pvt Ltd. | Financial | 1.35% | ₹223 Cr | +2.18% | +1.80% | +0.20% |
| Export-Import Bank Of India | Financial | 1.21% | ₹199 Cr | +0.54% | +0.46% | +0.62% |
| Housing & Urban Development Corporation Ltd. | Financial | 1.19% | ₹197 Cr | +1.09% | +0.89% | +0.81% |
| IIFL Capital Services Ltd | Financial | 1.16% | ₹192 Cr | +1.03% | — | +0.59% |
| LIC Housing Finance Ltd. | Financial | 1.09% | ₹180 Cr | +3.30% | +2.73% | +2.76% |
| Jamnagar Utilities and Power Pvt. Ltd. | Capital Goods | 0.97% | ₹160 Cr | +2.05% | +1.68% | +1.53% |
| Can Fin Homes Ltd. | Financial | 0.91% | ₹150 Cr | +0.83% | +0.68% | +0.62% |
| Citi Corp Finance Ltd | Financial | 0.87% | ₹144 Cr | +0.79% | +0.65% | +0.10% |
| Shivshakti Securitisation Trust | Others | 0.87% | ₹143 Cr | +0.81% | +0.67% | +0.61% |
| Tata Capital Housing Finance Ltd. | Financial | 0.85% | ₹140 Cr | 0.00% | 0.00% | +0.61% |
| National Highways Authority of India Ltd. | Services | 0.77% | ₹127 Cr | +0.71% | +0.58% | +0.53% |
| Poonawalla Fincorp Ltd. | Financial | 0.75% | ₹124 Cr | +0.28% | +0.68% | +0.20% |
| REC Ltd. | Financial | 0.75% | ₹125 Cr | +1.65% | +1.35% | +1.23% |
| Mahindra Rural Housing Finance Ltd. | Financial | 0.61% | ₹100 Cr | +0.55% | +0.46% | +0.42% |
| Sundaram Home Finance Ltd. | Financial | 0.61% | ₹100 Cr | +0.55% | +0.45% | +0.42% |
| Bharti Telecom Ltd. | Communication | 0.60% | ₹99.12 Cr | +0.82% | +0.68% | +0.84% |
| Globe Capital Market Ltd. | Services | 0.60% | ₹99.35 Cr | +0.55% | — | — |
| John Deere Financial India Pvt. Ltd. | Financial | 0.60% | ₹99.71 Cr | +0.55% | +0.45% | +0.42% |
| Tata Communications Ltd. | Communication | 0.59% | ₹98.12 Cr | +0.54% | +0.44% | — |
| L&T Finance Ltd. | Financial | 0.58% | ₹95.56 Cr | +0.14% | +0.11% | — |
| Bihar State | Others | 0.57% | ₹94.38 Cr | +0.52% | +0.43% | +0.39% |
| Bajaj Auto Credit Ltd. | Financial | 0.54% | ₹89.16 Cr | +0.49% | +0.41% | — |
| RJ Corp Ltd. | Consumer Staples | 0.50% | ₹82.38 Cr | +0.46% | +0.35% | — |
| Dhruva Trust | Others | 0.47% | ₹78.21 Cr | +0.54% | +0.51% | +0.59% |
| Pipeline Infrastructure (India) Pvt. Ltd. | Construction | 0.46% | ₹75.15 Cr | +0.41% | +0.34% | +0.31% |
| Motilal Oswal Financial Services Ltd. | Financial | 0.45% | ₹75.10 Cr | +1.38% | +1.13% | +1.02% |
| Muthoot Finance Ltd. | Financial | 0.45% | ₹75.03 Cr | +0.41% | +0.68% | +0.62% |
| Vajra Trust | Others | 0.34% | ₹55.77 Cr | +0.38% | +0.37% | +0.37% |
| Cholamandalam Investment and Finance Company Ltd. | Financial | 0.30% | ₹50.16 Cr | +0.28% | +0.23% | +0.21% |
| DLF Cyber City Developers Ltd. | Construction | 0.30% | ₹49.11 Cr | +0.27% | +0.22% | +0.20% |
| Fullerton India Home Finance Ltd. | Financial | 0.30% | ₹50.03 Cr | +1.08% | +0.23% | +0.82% |
| Globe Fincap Ltd. | Financial | 0.30% | ₹49.81 Cr | +0.28% | — | — |
| ICICI Home Finance Company Ltd. | Financial | 0.30% | ₹49.88 Cr | +0.28% | +0.23% | +0.21% |
| JM Financial Home Loans Ltd. | Financial | 0.30% | ₹50.09 Cr | +0.28% | +0.23% | +0.21% |
| Jio Credit Ltd. | Financial | 0.30% | ₹49.28 Cr | +0.27% | +0.22% | +0.20% |
| Tata Capital Ltd. | Financial | 0.30% | ₹50.03 Cr | +0.55% | +0.45% | +0.42% |
| Indian Railway Finance Corporation Ltd. | Financial | 0.24% | ₹40.31 Cr | +0.12% | +0.10% | +0.08% |
| Arka Fincap Ltd. | Financial | 0.21% | ₹35.04 Cr | +0.19% | +0.16% | +0.14% |
| HDB Financial Services Ltd. | Financial | 0.21% | ₹35.06 Cr | +0.19% | +0.16% | +0.06% |
| Shriram Finance Ltd | Financial | 0.19% | ₹31.33 Cr | +0.31% | +0.38% | +0.61% |
| 360 ONE Wealth Ltd. | Financial | 0.15% | ₹24.94 Cr | +0.27% | +1.13% | — |
| Mahindra & Mahindra Financial Services Ltd. | Financial | 0.15% | ₹25.06 Cr | +0.14% | +0.11% | +0.10% |
| TVS Credit Services Ltd. | Financial | 0.15% | ₹25.38 Cr | +0.14% | +0.12% | +0.15% |
| Tata Cleantech Capital Ltd | Financial | 0.15% | ₹24.99 Cr | +0.14% | +0.34% | +0.31% |
| Ultratech Cement Ltd. | Materials | 0.15% | ₹24.91 Cr | +0.14% | +0.11% | +0.10% |
| Indigo Paints Ltd. | Materials | 0.13% | ₹21.11 Cr | +0.18% | +0.21% | — |
| Kotak Mahindra Investments Ltd. | Financial | 0.12% | ₹20.55 Cr | +0.22% | +0.18% | +0.16% |
| Punjab State | Others | 0.09% | ₹15.12 Cr | +0.08% | +0.07% | — |
| Andhra Pradesh State | Financial | 0.03% | ₹4.32 Cr | +0.02% | +0.02% | — |
| Gujarat State | Construction | 0.03% | ₹4.21 Cr | +0.01% | +0.04% | — |
| Puducherry State | Others | 0.03% | ₹5.05 Cr | +0.03% | +0.02% | — |
| Uttar Pradesh State | Others | 0.03% | ₹5.06 Cr | +0.03% | +0.02% | — |
| West Bengal State | Others | 0.03% | ₹5.03 Cr | +0.03% | +0.02% | — |
| Tamilnadu State | Others | 0.02% | ₹3.02 Cr | +0.02% | +0.05% | +0.01% |
| Assam State | Others | 0.01% | ₹2.00 Cr | +0.01% | +0.01% | — |
| Goa State | Others | 0.01% | ₹2.00 Cr | +0.01% | +0.01% | — |
| Karnataka State | Others | 0.01% | ₹2.02 Cr | +0.01% | +0.01% | +0.02% |
| Tata Capital Financial Services Ltd. | Financial | 0.00% | ₹0.50 Cr | 0.00% | 0.00% | +0.14% |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| company:442 | 1.10% | 0.00% | -1.10% |
| Tata Capital Housing Finance Ltd. | 0.00% | 0.85% | +0.85% |
| LIC Housing Finance Ltd. | 1.13% | 0.76% | -0.37% |
| Jubilant Beverages Ltd. | 3.74% | 4.05% | +0.31% |
| Tata Capital Ltd. | 0.56% | 0.30% | -0.26% |
| Export-Import Bank Of India | 0.55% | 0.30% | -0.25% |
| Motilal Oswal Financial Services Ltd. | 0.68% | 0.45% | -0.23% |
| GOI | 2.93% | 3.16% | +0.23% |
| National Housing Bank | 2.65% | 2.86% | +0.21% |
| Jubilant Bevco Ltd. | 1.79% | 1.94% | +0.15% |
| JTPM Metal Traders Ltd. | 1.82% | 1.96% | +0.14% |
| Yes Bank Ltd. | 2.32% | 2.21% | -0.11% |
| Ascendas IT Park (Pune) Private Limited | 1.38% | 1.48% | +0.10% |
| Indian Oil Corporation Ltd. | 1.44% | 1.54% | +0.10% |
| Aditya Birla Renewables Ltd. | 1.27% | 1.36% | +0.09% |
| IIFL Capital Services Ltd | 1.07% | 1.16% | +0.09% |
| Radhakrishna Securitisation Trust | 1.94% | 2.02% | +0.08% |
| Housing & Urban Development Corporation Ltd. | 1.11% | 1.19% | +0.08% |
| JM Financial Credit Solutions Ltd. | 1.11% | 1.19% | +0.08% |
| Nomura Capital (India) Pvt Ltd. | 1.12% | 1.20% | +0.08% |
| Jamnagar Utilities and Power Pvt. Ltd. | 0.90% | 0.97% | +0.07% |
| Can Fin Homes Ltd. | 0.85% | 0.91% | +0.06% |
| Citi Corp Finance Ltd | 0.81% | 0.87% | +0.06% |
| National Highways Authority of India Ltd. | 0.72% | 0.77% | +0.05% |
| Mahindra Rural Housing Finance Ltd. | 0.56% | 0.61% | +0.05% |
| National Bank For Agriculture & Rural Development | 0.68% | 0.73% | +0.05% |
| Sundaram Home Finance Ltd. | 0.56% | 0.61% | +0.05% |
| Bajaj Auto Credit Ltd. | 0.50% | 0.54% | +0.04% |
| Pipeline Infrastructure (India) Pvt. Ltd. | 0.42% | 0.46% | +0.04% |
| Reliance Industries Ltd. | 0.58% | 0.62% | +0.04% |
| Shivshakti Securitisation Trust | 0.83% | 0.87% | +0.04% |
| Bajaj Housing Finance Ltd. | 0.56% | 0.60% | +0.04% |
| Bihar State | 0.53% | 0.57% | +0.04% |
| Globe Capital Market Ltd. | 0.56% | 0.60% | +0.04% |
| John Deere Financial India Pvt. Ltd. | 0.56% | 0.60% | +0.04% |
| L&T Finance Ltd. | 0.54% | 0.58% | +0.04% |
| Power Finance Corporation Ltd. | 0.56% | 0.60% | +0.04% |
| Tata Communications Ltd. | 0.55% | 0.59% | +0.04% |
| Bharti Telecom Ltd. | 0.42% | 0.45% | +0.03% |
| Muthoot Finance Ltd. | 0.42% | 0.45% | +0.03% |
| RJ Corp Ltd. | 0.47% | 0.50% | +0.03% |
| Shriram Finance Ltd | 0.22% | 0.19% | -0.03% |
| Others | 0.40% | 0.43% | +0.03% |
| Cholamandalam Investment and Finance Company Ltd. | 0.28% | 0.30% | +0.02% |
| DLF Cyber City Developers Ltd. | 0.28% | 0.30% | +0.02% |
| Fullerton India Home Finance Ltd. | 0.28% | 0.30% | +0.02% |
| Globe Fincap Ltd. | 0.28% | 0.30% | +0.02% |
| ICICI Home Finance Company Ltd. | 0.28% | 0.30% | +0.02% |
| JM Financial Home Loans Ltd. | 0.28% | 0.30% | +0.02% |
| Jio Credit Ltd. | 0.28% | 0.30% | +0.02% |
| Indigo Paints Ltd. | 0.14% | 0.13% | -0.01% |
| Andhra Pradesh State | 0.02% | 0.03% | +0.01% |
| Gujarat State | 0.02% | 0.03% | +0.01% |
| Kotak Mahindra Investments Ltd. | 0.11% | 0.12% | +0.01% |
| 360 ONE Wealth Ltd. | 0.14% | 0.15% | +0.01% |
| Arka Fincap Ltd. | 0.20% | 0.21% | +0.01% |
| HDB Financial Services Ltd. | 0.20% | 0.21% | +0.01% |
| Mahindra & Mahindra Financial Services Ltd. | 0.14% | 0.15% | +0.01% |
| Poonawalla Fincorp Ltd. | 0.14% | 0.15% | +0.01% |
| REC Ltd. | 0.14% | 0.15% | +0.01% |
| TVS Credit Services Ltd. | 0.14% | 0.15% | +0.01% |
| Tata Cleantech Capital Ltd | 0.14% | 0.15% | +0.01% |
| Ultratech Cement Ltd. | 0.14% | 0.15% | +0.01% |
| Tata Capital Financial Services Ltd. | 0.00% | 0.00% | 0.00% |
| Assam State | 0.01% | 0.01% | 0.00% |
| Dhruva Trust | 0.47% | 0.47% | 0.00% |
| Goa State | 0.01% | 0.01% | 0.00% |
| Indian Railway Finance Corporation Ltd. | 0.06% | 0.06% | 0.00% |
| Karnataka State | 0.01% | 0.01% | 0.00% |
| Puducherry State | 0.03% | 0.03% | 0.00% |
| Punjab State | 0.09% | 0.09% | 0.00% |
| Small Industries Devp. Bank of India Ltd. | 0.06% | 0.06% | 0.00% |
| Tamilnadu State | 0.02% | 0.02% | 0.00% |
| Uttar Pradesh State | 0.03% | 0.03% | 0.00% |
| Vajra Trust | 0.34% | 0.34% | 0.00% |
| West Bengal State | 0.03% | 0.03% | 0.00% |
Compare
Similar funds
The rest of the category, so this fund’s numbers have something to sit against.
| Fund | AUM | Expense | 1Y | 3Y | 5Y |
|---|---|---|---|---|---|
| Category average | ₹4,924 Cr | 0.49% | 5.9% | 6.6% | 6.8% |
 ICICI Prudential Ultra Short to Short Term Fund | ₹17,294 Cr | 0.53% | 5.8% | 6.8% | 7.0% |
 Tata Ultra Short to Short Term Fund | ₹2,665 Cr | 0.57% | 5.9% | 6.5% | 6.6% |
 UTI Ultra Short to Short Term Fund | ₹2,604 Cr | 0.65% | 5.8% | 6.7% | 6.8% |
 Aditya Birla Sun Life CRISIL-IBX Financial Services 9-12 Months Debt Index Fund | ₹1,942 Cr | 0.36% | 5.9% | — | — |
 Mirae Asset CRISIL-IBX Financial Services 9-12 Months Debt Index Fund | ₹114 Cr | 0.32% | 5.9% | — | — |
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
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 past | Total investment | Would’ve become | Growth | Returns |
|---|---|---|---|---|
| 6 months2.70% absolute | ₹60,000 | ₹61,620 | 2.70% | |
| 1 year5.22% annualised | ₹1,20,000 | ₹1,23,448 | 2.87% | |
| 3 years6.67% annualised | ₹3,60,000 | ₹3,99,537 | 10.98% | |
| 5 years6.12% annualised | ₹6,00,000 | ₹7,03,425 | 17.24% |
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 ₹62.20 as on 9 Nov 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 1.03% 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 5.2% over 1 year, 6.2% 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 86 schemes with ₹9,96,954 Cr under management.