Kotak Ultra Short Term Fund
Ultra Short DurationLow to ModerateOPEN-ENDED
- NAV as on 25 Sep 2026
- ₹46.11-0.02%1 day
- Return since launch
- 7.1%
- 52-week range
- ₹43.49 — ₹46.12
- AUM
- ₹15,962 Cr
Kotak Ultra Short Term Fund is a Ultra Short Duration debt fund from Kotak Mahindra Mutual Fund with ₹15,962 Cr under management, launched in 2004. Over three years it has returned 6.5% a year, against 6.7% for its category. The expense ratio is 0.82% and the SEBI riskometer reading is Low to Moderate.
Performance
Kotak Ultra Short Term Fund NAV and returns
Growth of the fund against its category average over the period you pick.
Over 1Y this fund returned +6.0% against +6.2% for its category.
Performance
Returns
How the fund has done against its category and its benchmark.
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1Y | 6.2% | +0.1 pts | 6.1% | 6.5% |
| 2Y | 6.3% | 0.0 pts | 6.3% | 6.5% |
| 3Y | 6.5% | −0.1 pts | 6.7% | 6.7% |
| 5Y | 6.5% | +0.5 pts | 6.0% | 6.6% |
| 7Y | 6.1% | +0.1 pts | 6.0% | 6.2% |
| 10Y | 6.1% | +0.3 pts | 5.9% | 6.2% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | 0.5% | 0.0 pts | 0.5% | 0.5% |
| 3M | 1.4% | −0.1 pts | 1.5% | 1.5% |
| 6M | 3.2% | −0.2 pts | 3.4% | 3.4% |
| 1Y | 6.0% | −0.1 pts | 6.1% | 6.2% |
| 2Y | 6.6% | +0.1 pts | 6.5% | 6.7% |
| 3Y | 6.7% | +0.1 pts | 6.7% | 6.8% |
| 5Y | 6.1% | +0.1 pts | 6.0% | 6.1% |
| 7Y | 5.8% | −0.2 pts | 6.0% | 5.7% |
| 10Y | 6.3% | +0.4 pts | 5.9% | 6.5% |
Since launch (2 Aug 2004): 7.1%
Calendar-year returns
Category average5.8%
3.2%
4.5%
6.8%
7.2%
6.8%
Show as a table
| Period | Fund | vs category | Category |
|---|---|---|---|
| 2025 | 6.8% | −0.4 pts | 7.2% |
| 2024 | 7.2% | −0.4 pts | 7.6% |
| 2023 | 6.8% | −0.4 pts | 7.2% |
| 2022 | 4.5% | −0.3 pts | 4.8% |
| 2021 | 3.2% | −0.9 pts | 4.1% |
| 2020 | 5.8% | +0.1 pts | 5.8% |
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
0.82%
Expense ratio as on 22 Sep 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 0.70%
- Brokerage
- 0.00%
- Transaction charges
- 0.00%
- Statutory levies
- 0.12%
- Exit load
- Exit load of 0.50% for investments upto Rs 10 lakhs if redeemed within 6 months.
- Lock-in
- None
Terms
- Min SIP
- ₹3,000
- Min lumpsum
- ₹5,000
- Plan
- GROWTH
- Fund type
- OPEN-ENDED
- Benchmark
- NIFTY Ultra Short Duration Debt Index A-I
Risk
Risk
What the riskometer means for this fund, and how its ratios sit against the category.
Low to Moderate
Your principal is treated as being at low to moderate risk — typically short duration debt 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 | 1.77 | 2.71 | Return earned for each unit of total risk taken. Higher is better. |
| Sortino | 2.46 | 3.79 | Return earned for each unit of downside risk. Higher is better. |
| Std. deviation | 0.48 | 0.42 | How widely monthly returns have varied around their own average. Lower is steadier. |
| Average of 5 category peers | |||
Portfolio
Kotak Ultra Short Term Fund portfolio
Portfolio as of 31 Aug 2026
Asset allocation
- Debt97.0%
- Other3.0%
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| National Bank For Agriculture & Rural Development | Financial | 5.77% | ₹921 Cr | +1.47% | +1.11% | +1.38% |
| Axis Bank Ltd. | Financial | 4.31% | ₹688 Cr | +0.30% | +0.89% | +0.78% |
| Others | Others | 3.32% | ₹531 Cr | +0.87% | +0.87% | +0.84% |
| Muthoot Finance Ltd. | Financial | 2.95% | ₹471 Cr | +0.87% | +1.32% | +0.93% |
| Small Industries Devp. Bank of India Ltd. | Financial | 2.83% | ₹452 Cr | +5.36% | +1.86% | +0.62% |
| Mankind Pharma Ltd. | Healthcare | 2.66% | ₹426 Cr | +1.54% | +1.56% | +1.62% |
| Torrent Pharmaceuticals Ltd. | Healthcare | 2.14% | ₹341 Cr | +1.72% | +1.70% | — |
| Maharashtra State | Others | 1.87% | ₹298 Cr | +0.02% | +0.02% | — |
| Indusind Bank Ltd. | Financial | 1.84% | ₹294 Cr | +1.78% | +0.58% | +0.62% |
| Mindspace Business Parks REIT | Construction | 1.78% | ₹283 Cr | — | — | — |
| 360 ONE Wealth Ltd. | Financial | 1.63% | ₹259 Cr | +2.76% | +2.79% | — |
| HDFC Bank Ltd. | Financial | 1.52% | ₹242 Cr | +1.46% | +1.45% | +0.63% |
| Yes Bank Ltd. | Financial | 1.51% | ₹242 Cr | +1.46% | — | — |
| Radhakrishna Securitisation Trust | Others | 1.28% | ₹204 Cr | +1.26% | +1.30% | — |
| Vedanta Ltd. | Metals & Mining | 1.26% | ₹201 Cr | +1.23% | +1.25% | +1.28% |
| company:13827 | Construction | 1.26% | ₹200 Cr | — | — | — |
| Poonawalla Fincorp Ltd. | Financial | 1.25% | ₹199 Cr | +1.23% | +1.24% | +1.28% |
| Reserve Bank of India | Financial | 1.22% | ₹195 Cr | +1.19% | +1.53% | +0.63% |
| Punjab & Sind Bank | Financial | 1.21% | ₹193 Cr | +1.17% | +1.16% | — |
| Adani Power Ltd. | Energy | 1.18% | ₹189 Cr | +1.16% | +1.18% | — |
| Piramal Finance Ltd. | Financial | 1.10% | ₹176 Cr | +1.08% | +1.09% | +1.12% |
| Embassy Office Parks REIT | Construction | 1.08% | ₹172 Cr | +0.86% | +1.24% | +1.28% |
| Madhya Pradesh State | Others | 0.95% | ₹152 Cr | — | — | — |
| Nuvama Wealth Finance Ltd. | Financial | 0.94% | ₹149 Cr | +0.92% | +0.94% | — |
| Tata Housing Devp. Co. Ltd | Construction | 0.92% | ₹146 Cr | +0.88% | +0.87% | — |
| IIFL Finance Ltd. | Financial | 0.91% | ₹145 Cr | +0.87% | +0.91% | — |
| ICICI Home Finance Company Ltd. | Financial | 0.78% | ₹125 Cr | — | — | — |
| Tata Capital Housing Finance Ltd. | Financial | 0.77% | ₹123 Cr | +0.30% | +0.30% | +0.30% |
| The Federal Bank Ltd. | Financial | 0.76% | ₹122 Cr | +0.73% | +0.73% | — |
| Jubilant Bevco Ltd. | Consumer Staples | 0.70% | ₹112 Cr | +0.67% | +0.67% | +0.67% |
| Gujarat State | Construction | 0.63% | ₹100 Cr | +0.62% | +0.62% | +0.64% |
| Bahadur Chand Investments Pvt. Ltd. | Financial | 0.62% | ₹98.41 Cr | +0.59% | +0.59% | +0.46% |
| Mahindra & Mahindra Financial Services Ltd. | Financial | 0.62% | ₹99.68 Cr | +0.62% | — | — |
| Power Finance Corporation Ltd. | Financial | 0.62% | ₹99.10 Cr | +0.61% | +0.03% | — |
| Canara Bank | Financial | 0.61% | ₹97.30 Cr | +0.59% | +2.04% | +0.62% |
| Manappuram Finance Ltd. | Financial | 0.61% | ₹98.12 Cr | +0.59% | +0.58% | +0.32% |
| Union Bank of India | Financial | 0.61% | ₹96.72 Cr | +0.74% | +0.88% | +0.47% |
| Axis Securities Ltd. | Others | 0.60% | ₹96.22 Cr | — | — | — |
| Birla Group Holdings Pvt. Ltd. | Financial | 0.60% | ₹96.15 Cr | +0.58% | — | — |
| Tamilnadu State | Others | 0.47% | ₹75.30 Cr | +0.47% | +0.47% | +1.30% |
| Cholamandalam Securities Ltd. | Financial | 0.42% | ₹67.15 Cr | +0.40% | — | — |
| Bharti Telecom Ltd. | Communication | 0.38% | ₹60.29 Cr | +0.47% | +0.47% | +2.85% |
| Liquid Gold Series 14 | Others | 0.32% | ₹51.71 Cr | +0.41% | +0.53% | — |
| company:6903 | Others | 0.32% | ₹50.36 Cr | — | — | — |
| company:6919 | Others | 0.32% | ₹50.37 Cr | — | — | +0.03% |
| Godrej Seeds & Genetics Ltd. | Consumer Staples | 0.31% | ₹49.49 Cr | +0.30% | +0.31% | +0.32% |
| Liquid Gold Series 9 | Financial | 0.31% | ₹49.61 Cr | +0.38% | +0.49% | +0.96% |
| Tata Capital Ltd. | Financial | 0.31% | ₹49.78 Cr | +0.31% | — | — |
| Bank Of Baroda | Financial | 0.30% | ₹48.32 Cr | +0.15% | +0.61% | +0.62% |
| Bank of India | Financial | 0.30% | ₹48.47 Cr | — | +0.61% | — |
| Credila Financial Services Ltd. | Financial | 0.30% | ₹48.06 Cr | +0.29% | — | +1.24% |
| Punjab National Bank | Financial | 0.30% | ₹48.55 Cr | +0.15% | +1.31% | +1.70% |
| Godrej Industries Ltd. | Consumer Staples | 0.25% | ₹39.98 Cr | +0.30% | — | — |
| GOI | Sovereign | 0.16% | ₹24.86 Cr | +0.15% | +0.15% | +5.11% |
| Godrej Properties Ltd. | Construction | 0.16% | ₹25.09 Cr | +0.15% | +0.16% | — |
| LIC Housing Finance Ltd. | Financial | 0.16% | ₹25.77 Cr | +0.31% | +0.31% | +0.32% |
| Godrej Finance Ltd. | Financial | 0.03% | ₹5.01 Cr | +0.03% | — | — |
| Rajasthan State | Others | 0.01% | ₹2.12 Cr | +0.01% | +0.01% | +0.01% |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| Axis Bank Ltd. | 0.31% | 4.31% | +4.00% |
| National Bank For Agriculture & Rural Development | 0.03% | 3.61% | +3.58% |
| Small Industries Devp. Bank of India Ltd. | 0.02% | 2.22% | +2.20% |
| company:13827 | 0.00% | 1.26% | +1.26% |
| Union Bank of India | 1.70% | 0.61% | -1.09% |
| Tata Teleservices Ltd. | 0.93% | 0.00% | -0.93% |
| company:6903 | 0.00% | 0.32% | +0.32% |
| company:6919 | 0.00% | 0.32% | +0.32% |
| Export-Import Bank Of India | 0.16% | 0.00% | -0.16% |
| Tata Motors Finance Ltd. | 0.04% | 0.00% | -0.04% |
| Liquid Gold Series 14 | 0.36% | 0.32% | -0.04% |
| Maharashtra State | 1.91% | 1.87% | -0.04% |
| Adani Power Ltd. | 1.21% | 1.18% | -0.03% |
| Liquid Gold Series 9 | 0.34% | 0.31% | -0.03% |
| ICICI Home Finance Company Ltd. | 0.80% | 0.78% | -0.02% |
| Indusind Bank Ltd. | 1.86% | 1.84% | -0.02% |
| Madhya Pradesh State | 0.97% | 0.95% | -0.02% |
| Mahindra & Mahindra Financial Services Ltd. | 0.64% | 0.62% | -0.02% |
| Mankind Pharma Ltd. | 0.80% | 0.78% | -0.02% |
| Piramal Finance Ltd. | 1.12% | 1.10% | -0.02% |
| Poonawalla Fincorp Ltd. | 1.27% | 1.25% | -0.02% |
| Radhakrishna Securitisation Trust | 1.30% | 1.28% | -0.02% |
| Reserve Bank of India | 1.24% | 1.22% | -0.02% |
| Vedanta Ltd. | 1.28% | 1.26% | -0.02% |
| Yes Bank Ltd. | 1.53% | 1.51% | -0.02% |
| Axis Securities Ltd. | 0.61% | 0.60% | -0.01% |
| Bank Of Baroda | 0.31% | 0.30% | -0.01% |
| Bank of India | 0.31% | 0.30% | -0.01% |
| Birla Group Holdings Pvt. Ltd. | 0.61% | 0.60% | -0.01% |
| Canara Bank | 0.62% | 0.61% | -0.01% |
| Embassy Office Parks REIT | 0.46% | 0.45% | -0.01% |
| Godrej Seeds & Genetics Ltd. | 0.32% | 0.31% | -0.01% |
| Gujarat State | 0.64% | 0.63% | -0.01% |
| HDFC Bank Ltd. | 1.53% | 1.52% | -0.01% |
| IIFL Finance Ltd. | 0.92% | 0.91% | -0.01% |
| Jubilant Bevco Ltd. | 0.71% | 0.70% | -0.01% |
| Manappuram Finance Ltd. | 0.62% | 0.61% | -0.01% |
| Mindspace Business Parks REIT | 1.79% | 1.78% | -0.01% |
| Muthoot Finance Ltd. | 0.46% | 0.45% | -0.01% |
| Nuvama Wealth Finance Ltd. | 0.95% | 0.94% | -0.01% |
| Power Finance Corporation Ltd. | 0.63% | 0.62% | -0.01% |
| Punjab & Sind Bank | 1.22% | 1.21% | -0.01% |
| Punjab National Bank | 0.31% | 0.30% | -0.01% |
| Tamilnadu State | 0.48% | 0.47% | -0.01% |
| Tata Capital Ltd. | 0.32% | 0.31% | -0.01% |
| The Federal Bank Ltd. | 0.77% | 0.76% | -0.01% |
| Torrent Pharmaceuticals Ltd. | 0.90% | 0.89% | -0.01% |
| 360 ONE Wealth Ltd. | 0.06% | 0.06% | 0.00% |
| Bahadur Chand Investments Pvt. Ltd. | 0.62% | 0.62% | 0.00% |
| Bharti Telecom Ltd. | 0.38% | 0.38% | 0.00% |
| Cholamandalam Securities Ltd. | 0.42% | 0.42% | 0.00% |
| Credila Financial Services Ltd. | 0.30% | 0.30% | 0.00% |
| GOI | 0.16% | 0.16% | 0.00% |
| Godrej Finance Ltd. | 0.03% | 0.03% | 0.00% |
| Godrej Industries Ltd. | 0.16% | 0.16% | 0.00% |
| Godrej Properties Ltd. | 0.16% | 0.16% | 0.00% |
| LIC Housing Finance Ltd. | 0.16% | 0.16% | 0.00% |
| Others | 0.30% | 0.30% | 0.00% |
| Rajasthan State | 0.01% | 0.01% | 0.00% |
| Tata Capital Housing Finance Ltd. | 0.15% | 0.15% | 0.00% |
| Tata Housing Devp. Co. Ltd | 0.92% | 0.92% | 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 | ₹1,179 Cr | 0.32% | 7.0% | 6.9% | 6.9% |
 HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund | ₹2,264 Cr | 0.25% | 7.2% | — | — |
 Aditya Birla Sun Life CRISIL-IBX Financial Services 3 to 6 Months Debt Index Fund | ₹2,164 Cr | 0.37% | 7.0% | — | — |
 Baroda BNP Paribas Ultra Short Term Fund | ₹666 Cr | 0.43% | 6.8% | 6.9% | 6.9% |
 ICICI Prudential CRISIL-IBX Financial Services 3-6 Months Debt Index Fund | ₹533 Cr | 0.22% | 7.1% | — | — |
| Kotak CRISIL-IBX Financial Services 3-6 Months Debt Index Fund | ₹270 Cr | 0.35% | 6.8% | — | — |
About
About this fund
The scheme’s own words, its benchmark and the people running it.
Investment objective
The scheme seeks to generate returns through investment in debt and money market instruments with a view to reduce the interest rate risk.
Fund managers
- Deepak AgrawalMr. Agrawal is Post Graduate in Commerce from Mumbai University, Chartered Accountant, Company Secretary and CFA.He has been associated with Kotak AMC since 2002.
- Manu SharmaMr. Sharma has done M.Com and CA.He has over 17 years of experience in fields of Fixed Income Fund Management, Operations, Finance Audit and Taxation.
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 months3.16% absolute | ₹60,000 | ₹61,896 | 3.16% | |
| 1 year6.01% annualised | ₹1,20,000 | ₹1,23,979 | 3.32% | |
| 3 years6.72% annualised | ₹3,60,000 | ₹3,99,853 | 11.07% | |
| 5 years6.11% annualised | ₹6,00,000 | ₹7,03,239 | 17.21% |
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 Kotak Ultra Short Term Fund?
The NAV of Kotak Ultra Short Term Fund is ₹46.11 as on 25 Sep 2026.
What is the expense ratio of Kotak Ultra Short Term Fund?
The expense ratio of Kotak Ultra Short Term Fund is 0.82% per year.
What is the minimum SIP amount for Kotak Ultra Short Term Fund?
You can start a SIP in Kotak Ultra Short Term Fund with ₹3,000 a month.
What returns has Kotak Ultra Short Term Fund given?
Kotak Ultra Short Term Fund has returned 6.2% over 1 year, 6.5% over 3 years and 6.5% over 5 years (annualised).
Is there a lock-in or exit load on Kotak Ultra Short Term Fund?
Lock-in: None. Exit load: Exit load of 0.50% for investments upto Rs 10 lakhs if redeemed within 6 months..
How risky is Kotak Ultra Short Term Fund?
Kotak Ultra Short Term Fund is rated Low to Moderate on the SEBI riskometer and belongs to the Ultra Short Duration category.
Which fund house manages Kotak Ultra Short Term Fund?
Kotak Ultra Short Term Fund is managed by Kotak Mahindra Mutual Fund, which runs 94 schemes with ₹6,09,561 Cr under management.