HDFC Ultra Short to Short Term Fund
- 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
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 +5.6% against +5.8% for its category.
Performance
Returns
How the fund has done against its category and its benchmark.
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1Y | 5.6% | −0.1 pts | 5.7% | 6.0% |
| 2Y | 6.0% | −0.1 pts | 6.2% | 6.2% |
| 3Y | 6.4% | −0.4 pts | 6.8% | 6.5% |
| 5Y | 6.5% | +0.4 pts | 6.1% | 6.6% |
| 7Y | 6.3% | 0.0 pts | 6.3% | 6.2% |
| 10Y | 6.3% | +0.1 pts | 6.3% | 6.1% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | 0.3% | 0.0 pts | 0.4% | 0.4% |
| 3M | 1.1% | −0.1 pts | 1.3% | 1.3% |
| 6M | 3.0% | −0.2 pts | 3.2% | 3.2% |
| 1Y | 5.6% | −0.1 pts | 5.7% | 5.7% |
| 2Y | 6.5% | −0.1 pts | 6.6% | 6.6% |
| 3Y | 6.7% | 0.0 pts | 6.8% | 6.8% |
| 5Y | 6.1% | 0.0 pts | 6.1% | 6.1% |
| 7Y | 6.2% | 0.0 pts | 6.2% | 5.9% |
| 10Y | 6.4% | +0.2 pts | 6.3% | 6.2% |
Since launch (18 Nov 1999): 7.0%
Calendar-year returns
Category averageShow 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
1.05%
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.
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 | — | — | How hard the fund moves when the market moves. Under 1 is steadier than the market. |
| Sharpe | 1.36 | 1.93 | Return earned for each unit of total risk taken. Higher is better. |
| Sortino | 2.03 | 2.92 | Return earned for each unit of downside risk. Higher is better. |
| Std. deviation | 0.67 | 0.64 | 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 31 Aug 2026
Asset allocation
- Debt97.2%
- Other2.8%
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| National Bank For Agriculture & Rural Development | Financial | 4.44% | ₹790 Cr | +0.36% | +0.30% | +0.30% |
| Jubilant Beverages Ltd. | Consumer Staples | 3.74% | ₹666 Cr | +3.21% | +2.52% | +2.51% |
| Others | Others | 3.23% | ₹573 Cr | +1.05% | +0.81% | +0.78% |
| GOI | Sovereign | 2.96% | ₹526 Cr | +8.74% | +9.32% | +8.40% |
| Bajaj Housing Finance Ltd. | Financial | 2.67% | ₹476 Cr | +0.24% | +0.20% | +0.40% |
| National Housing Bank | Financial | 2.65% | ₹472 Cr | +2.33% | +1.86% | +0.80% |
| Yes Bank Ltd. | Financial | 2.32% | ₹412 Cr | +2.22% | +1.73% | — |
| Small Industries Devp. Bank of India Ltd. | Financial | 1.99% | ₹353 Cr | +0.20% | +1.56% | +10.72% |
| Power Finance Corporation Ltd. | Financial | 1.96% | ₹350 Cr | +1.96% | +1.56% | +1.12% |
| Radhakrishna Securitisation Trust | Others | 1.94% | ₹344 Cr | +1.71% | +1.38% | — |
| JTPM Metal Traders Ltd. | Metals & Mining | 1.82% | ₹323 Cr | +1.56% | +1.22% | — |
| Jubilant Bevco Ltd. | Consumer Staples | 1.79% | ₹319 Cr | +1.53% | +1.21% | +1.20% |
| JM Financial Credit Solutions Ltd. | Financial | 1.67% | ₹298 Cr | +1.94% | +1.56% | +1.60% |
| Export-Import Bank Of India | Financial | 1.67% | ₹298 Cr | +0.75% | +2.76% | +0.93% |
| Indian Oil Corporation Ltd. | Energy | 1.58% | ₹281 Cr | +2.52% | +2.00% | +2.10% |
| LIC Housing Finance Ltd. | Financial | 1.44% | ₹255 Cr | +2.97% | +2.37% | +3.06% |
| Ascendas IT Park (Pune) Private Limited | Others | 1.38% | ₹245 Cr | +1.21% | +0.97% | — |
| Reliance Industries Ltd. | Energy | 1.30% | ₹231 Cr | +1.02% | +0.82% | — |
| Aditya Birla Renewables Ltd. | Energy | 1.27% | ₹225 Cr | +1.97% | +1.57% | +1.64% |
| Nomura Capital (India) Pvt Ltd. | Financial | 1.26% | ₹224 Cr | +1.96% | +0.20% | +0.20% |
| Housing & Urban Development Corporation Ltd. | Financial | 1.11% | ₹197 Cr | +0.97% | +0.78% | +0.80% |
| company:442 | Financial | 1.10% | ₹196 Cr | — | +0.83% | — |
| IIFL Capital Services Ltd | Financial | 1.07% | ₹191 Cr | — | +0.59% | +0.58% |
| REC Ltd. | Financial | 0.98% | ₹175 Cr | +1.47% | +1.17% | +1.20% |
| Jamnagar Utilities and Power Pvt. Ltd. | Capital Goods | 0.90% | ₹160 Cr | +1.84% | +1.46% | +1.51% |
| Can Fin Homes Ltd. | Financial | 0.85% | ₹151 Cr | +0.74% | +0.59% | +1.02% |
| Shivshakti Securitisation Trust | Others | 0.83% | ₹148 Cr | +0.73% | +0.59% | — |
| Citi Corp Finance Ltd | Financial | 0.81% | ₹143 Cr | +0.71% | +0.10% | +0.10% |
| Tata Capital Housing Finance Ltd. | Financial | 0.79% | ₹141 Cr | 0.00% | 0.00% | +1.22% |
| National Highways Authority of India Ltd. | Services | 0.72% | ₹128 Cr | +0.63% | +0.51% | +0.53% |
| Poonawalla Fincorp Ltd. | Financial | 0.70% | ₹124 Cr | +0.24% | +0.58% | +0.20% |
| Motilal Oswal Financial Services Ltd. | Financial | 0.68% | ₹120 Cr | +1.23% | +0.98% | +1.01% |
| Bharti Telecom Ltd. | Communication | 0.56% | ₹99.40 Cr | +0.74% | +0.78% | +0.82% |
| Globe Capital Market Ltd. | Services | 0.56% | ₹99.63 Cr | +0.49% | — | — |
| John Deere Financial India Pvt. Ltd. | Financial | 0.56% | ₹99.93 Cr | +0.49% | +0.40% | +0.41% |
| Mahindra Rural Housing Finance Ltd. | Financial | 0.56% | ₹100 Cr | +0.50% | +0.40% | +0.41% |
| Sundaram Home Finance Ltd. | Financial | 0.56% | ₹100 Cr | +0.49% | +0.39% | +0.41% |
| Tata Capital Ltd. | Financial | 0.56% | ₹100 Cr | +0.49% | +0.40% | +0.41% |
| Tata Communications Ltd. | Communication | 0.55% | ₹98.37 Cr | +0.48% | +0.39% | — |
| L&T Finance Ltd. | Financial | 0.54% | ₹96.06 Cr | +0.12% | +0.10% | — |
| Bihar State | Others | 0.53% | ₹94.76 Cr | +0.47% | +0.37% | +0.39% |
| Bajaj Auto Credit Ltd. | Financial | 0.50% | ₹89.24 Cr | +0.44% | +0.35% | — |
| Dhruva Trust | Others | 0.47% | ₹84.46 Cr | +0.50% | +0.47% | +0.61% |
| RJ Corp Ltd. | Consumer Staples | 0.47% | ₹82.82 Cr | +0.38% | +0.31% | — |
| Muthoot Finance Ltd. | Financial | 0.42% | ₹74.58 Cr | +0.74% | +0.59% | +0.61% |
| Pipeline Infrastructure (India) Pvt. Ltd. | Construction | 0.42% | ₹75.21 Cr | +0.37% | +0.29% | +0.31% |
| Vajra Trust | Others | 0.34% | ₹60.28 Cr | +0.36% | +0.34% | +0.36% |
| Cholamandalam Investment and Finance Company Ltd. | Financial | 0.28% | ₹50.45 Cr | +0.25% | +0.20% | +0.21% |
| DLF Cyber City Developers Ltd. | Construction | 0.28% | ₹49.20 Cr | +0.24% | +0.19% | +0.20% |
| Fullerton India Home Finance Ltd. | Financial | 0.28% | ₹50.07 Cr | +0.25% | +0.20% | +0.80% |
| Globe Fincap Ltd. | Financial | 0.28% | ₹49.96 Cr | +0.25% | — | — |
| ICICI Home Finance Company Ltd. | Financial | 0.28% | ₹50.04 Cr | +0.25% | +0.20% | +0.21% |
| JM Financial Home Loans Ltd. | Financial | 0.28% | ₹50.10 Cr | +0.25% | +0.20% | +0.20% |
| Jio Credit Ltd. | Financial | 0.28% | ₹49.42 Cr | +0.24% | +0.19% | — |
| Indian Railway Finance Corporation Ltd. | Financial | 0.23% | ₹40.37 Cr | +0.10% | +0.08% | +0.08% |
| Shriram Finance Ltd | Financial | 0.22% | ₹39.19 Cr | +0.32% | +0.37% | +0.65% |
| Arka Fincap Ltd. | Financial | 0.20% | ₹35.05 Cr | +0.17% | +0.14% | +0.14% |
| HDB Financial Services Ltd. | Financial | 0.20% | ₹35.17 Cr | +0.44% | +0.14% | +0.06% |
| 360 ONE Wealth Ltd. | Financial | 0.14% | ₹24.93 Cr | +1.23% | +0.98% | — |
| Indigo Paints Ltd. | Materials | 0.14% | ₹24.45 Cr | +0.18% | +0.20% | — |
| Mahindra & Mahindra Financial Services Ltd. | Financial | 0.14% | ₹25.07 Cr | +0.12% | +0.10% | +0.10% |
| TVS Credit Services Ltd. | Financial | 0.14% | ₹25.48 Cr | +0.13% | +0.10% | +0.15% |
| Tata Cleantech Capital Ltd | Financial | 0.14% | ₹25.05 Cr | +0.37% | +0.30% | +0.31% |
| Ultratech Cement Ltd. | Materials | 0.14% | ₹24.97 Cr | +0.12% | +0.10% | +0.10% |
| Kotak Mahindra Investments Ltd. | Financial | 0.11% | ₹20.55 Cr | +0.20% | +0.16% | +0.16% |
| Punjab State | Others | 0.09% | ₹15.21 Cr | +0.07% | +0.06% | — |
| Puducherry State | Others | 0.03% | ₹5.06 Cr | +0.03% | +0.02% | — |
| Uttar Pradesh State | Others | 0.03% | ₹5.08 Cr | +0.03% | +0.02% | — |
| West Bengal State | Others | 0.03% | ₹5.06 Cr | +0.02% | +0.02% | — |
| Andhra Pradesh State | Financial | 0.02% | ₹4.34 Cr | +0.02% | +0.02% | — |
| Gujarat State | Construction | 0.02% | ₹4.22 Cr | +0.04% | +0.03% | — |
| Tamilnadu State | Others | 0.02% | ₹3.03 Cr | +0.05% | +0.04% | +0.01% |
| Assam State | Others | 0.01% | ₹2.01 Cr | +0.01% | +0.01% | — |
| Goa State | Others | 0.01% | ₹2.01 Cr | +0.01% | +0.01% | — |
| Karnataka State | Others | 0.01% | ₹2.03 Cr | +0.01% | +0.01% | +0.02% |
| Tata Capital Financial Services Ltd. | Financial | 0.00% | ₹0.51 Cr | 0.00% | 0.00% | +0.14% |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| company:442 | 0.00% | 1.10% | +1.10% |
| UCO Bank | 1.02% | 0.00% | -1.02% |
| Motilal Oswal Financial Services Ltd. | 1.36% | 0.68% | -0.68% |
| National Bank For Agriculture & Rural Development | 0.14% | 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 India | 0.27% | 0.55% | +0.28% |
| Jubilant Beverages Ltd. | 3.60% | 3.74% | +0.14% |
| GOI | 2.82% | 2.93% | +0.11% |
| National Housing Bank | 2.57% | 2.65% | +0.08% |
| Radhakrishna Securitisation Trust | 1.86% | 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 Ltd | 1.03% | 1.07% | +0.04% |
| Nomura Capital (India) Pvt Ltd. | 1.08% | 1.12% | +0.04% |
| Shriram Finance Ltd | 0.26% | 0.22% | -0.04% |
| India Universal Trust AL1 | 0.04% | 0.00% | -0.04% |
| Ascendas IT Park (Pune) Private Limited | 1.34% | 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 Ltd | 0.78% | 0.81% | +0.03% |
| Dhruva Trust | 0.50% | 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 Trust | 0.80% | 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 State | 0.52% | 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% |
| Others | 0.39% | 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 State | 0.08% | 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 Trust | 0.35% | 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 State | 0.02% | 0.02% | 0.00% |
| Assam State | 0.01% | 0.01% | 0.00% |
| Goa State | 0.01% | 0.01% | 0.00% |
| Gujarat State | 0.02% | 0.02% | 0.00% |
| Indian Railway Finance Corporation Ltd. | 0.06% | 0.06% | 0.00% |
| Karnataka State | 0.01% | 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 State | 0.03% | 0.03% | 0.00% |
| TVS Credit Services Ltd. | 0.14% | 0.14% | 0.00% |
| Tamilnadu State | 0.02% | 0.02% | 0.00% |
| Tata Cleantech Capital Ltd | 0.14% | 0.14% | 0.00% |
| Ultratech Cement Ltd. | 0.14% | 0.14% | 0.00% |
| Uttar Pradesh State | 0.03% | 0.03% | 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 | ₹5,593 Cr | 0.45% | 6.2% | 6.8% | 6.9% |
| ₹21,047 Cr | 0.53% | 6.2% | 7.0% | 7.1% | |
| ₹2,871 Cr | 0.57% | 6.2% | 6.7% | 6.7% | |
| ₹2,680 Cr | 0.48% | 6.2% | 6.9% | 6.9% | |
| ₹1,228 Cr | 0.36% | 6.3% | — | — | |
| ₹138 Cr | 0.29% | 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
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 months3.00% absolute | ₹60,000 | ₹61,800 | 3.00% | |
| 1 year5.58% annualised | ₹1,20,000 | ₹1,23,690 | 3.07% | |
| 3 years6.73% annualised | ₹3,60,000 | ₹3,99,916 | 11.09% | |
| 5 years6.09% annualised | ₹6,00,000 | ₹7,02,865 | 17.14% |
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.