Kotak Ultra Short Term Fund
Ultra Short DurationModerateOPEN-ENDED
- NAV as on 9 Nov 2026
- ₹46.39+0.06%1 day
- Return since launch
- 7.1%
- 52-week range
- ₹43.81 — ₹46.36
- AUM
- ₹15,261 Cr
Kotak Ultra Short Term Fund is a Ultra Short Duration debt fund from Kotak Mahindra Mutual Fund with ₹15,261 Cr under management, launched in 2004. Over three years it has returned 6.4% a year, against 6.6% for its category. The expense ratio is 0.82% and the SEBI riskometer reading is 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 +5.8% against +6.1% for its category.
Performance
Returns
How the fund has done against its category and its benchmark.
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1Y | 5.8% | −0.1 pts | 6.0% | 6.2% |
| 2Y | 6.1% | 0.0 pts | 6.1% | 6.3% |
| 3Y | 6.4% | −0.2 pts | 6.6% | 6.5% |
| 5Y | 6.5% | +0.4 pts | 6.0% | 6.5% |
| 7Y | 6.1% | +0.1 pts | 6.0% | 6.1% |
| 10Y | 6.1% | +0.2 pts | 5.8% | 6.1% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | 0.3% | 0.0 pts | 0.3% | 0.3% |
| 3M | 1.3% | −0.1 pts | 1.3% | 1.3% |
| 6M | 3.0% | −0.1 pts | 3.1% | 3.1% |
| 1Y | 5.8% | −0.2 pts | 6.0% | 6.1% |
| 2Y | 6.4% | 0.0 pts | 6.3% | 6.5% |
| 3Y | 6.7% | +0.1 pts | 6.6% | 6.8% |
| 5Y | 6.2% | +0.1 pts | 6.0% | 6.2% |
| 7Y | 5.7% | +0.1 pts | 5.6% | 5.7% |
| 10Y | 6.2% | +0.4 pts | 5.8% | 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 3 Nov 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.
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 | — | — | How hard the fund moves when the market moves. Under 1 is steadier than the market. |
| Sharpe | 1.73 | — | Return earned for each unit of total risk taken. Higher is better. |
| Sortino | 2.32 | — | Return earned for each unit of downside risk. Higher is better. |
| Std. deviation | 0.51 | — | 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 30 Sep 2026
Asset allocation
- Debt100.9%
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| National Bank For Agriculture & Rural Development | Financial | 6.68% | ₹1,020 Cr | +0.11% | +1.11% | +9.42% |
| Axis Bank Ltd. | Financial | 4.53% | ₹692 Cr | +4.76% | +0.96% | +0.96% |
| Muthoot Finance Ltd. | Financial | 3.09% | ₹470 Cr | +1.52% | +0.93% | +0.96% |
| Small Industries Devp. Bank of India Ltd. | Financial | 2.98% | ₹454 Cr | +1.36% | +1.32% | +0.64% |
| Mankind Pharma Ltd. | Healthcare | 2.79% | ₹425 Cr | +1.77% | +1.68% | +1.66% |
| Vedanta Ltd. | Metals & Mining | 1.97% | ₹301 Cr | +2.83% | +2.68% | +2.62% |
| Maharashtra State | Others | 1.94% | ₹296 Cr | 0.00% | +0.02% | — |
| Mindspace Business Parks REIT | Construction | 1.87% | ₹285 Cr | +1.98% | — | — |
| 360 ONE Wealth Ltd. | Financial | 1.69% | ₹259 Cr | +3.17% | +3.00% | +1.95% |
| Reserve Bank of India | Financial | 1.62% | ₹248 Cr | +1.36% | +1.27% | +0.64% |
| HDFC Bank Ltd. | Financial | 1.59% | ₹243 Cr | +1.69% | +1.56% | +0.32% |
| Yes Bank Ltd. | Financial | 1.59% | ₹243 Cr | +1.68% | +1.56% | — |
| Poonawalla Fincorp Ltd. | Financial | 1.31% | ₹199 Cr | +1.41% | +1.33% | +1.31% |
| Radhakrishna Securitisation Trust | Others | 1.31% | ₹200 Cr | +1.45% | +1.37% | +1.38% |
| Tata Projects Ltd. | Construction | 1.31% | ₹200 Cr | — | — | — |
| Torrent Pharmaceuticals Ltd. | Healthcare | 1.30% | ₹198 Cr | +0.99% | +0.92% | — |
| Punjab & Sind Bank | Financial | 1.27% | ₹195 Cr | +1.35% | +1.25% | — |
| Adani Power Ltd. | Energy | 1.24% | ₹189 Cr | +1.35% | +1.26% | — |
| Piramal Finance Ltd. | Financial | 1.15% | ₹176 Cr | +1.24% | +1.17% | +1.15% |
| Embassy Office Parks REIT | Construction | 1.14% | ₹173 Cr | +1.01% | +1.32% | +1.30% |
| Madhya Pradesh State | Others | 0.99% | ₹151 Cr | +1.07% | — | — |
| Nuvama Wealth Finance Ltd. | Financial | 0.98% | ₹150 Cr | +1.05% | +1.00% | — |
| IIFL Finance Ltd. | Financial | 0.96% | ₹146 Cr | +1.01% | +0.93% | — |
| Tata Housing Devp. Co. Ltd | Construction | 0.96% | ₹147 Cr | +1.02% | +0.94% | — |
| ICICI Home Finance Company Ltd. | Financial | 0.82% | ₹125 Cr | — | — | — |
| The Federal Bank Ltd. | Financial | 0.80% | ₹122 Cr | +0.85% | +0.79% | — |
| Jubilant Bevco Ltd. | Consumer Staples | 0.74% | ₹112 Cr | +0.78% | +0.72% | +0.68% |
| Gujarat State | Construction | 0.66% | ₹100 Cr | +0.71% | +0.67% | +0.65% |
| Mahindra & Mahindra Financial Services Ltd. | Financial | 0.66% | ₹99.98 Cr | +0.71% | — | — |
| Bahadur Chand Investments Pvt. Ltd. | Financial | 0.65% | ₹99.02 Cr | +0.68% | +0.63% | +0.47% |
| Manappuram Finance Ltd. | Financial | 0.65% | ₹98.73 Cr | +0.68% | +0.63% | — |
| Power Finance Corporation Ltd. | Financial | 0.65% | ₹99.04 Cr | +0.70% | +0.66% | — |
| Tata Capital Housing Finance Ltd. | Financial | 0.65% | ₹98.89 Cr | +0.17% | +0.16% | +0.16% |
| Canara Bank | Financial | 0.64% | ₹97.85 Cr | +0.68% | +2.20% | +2.23% |
| Indusind Bank Ltd. | Financial | 0.64% | ₹97.60 Cr | +2.05% | +1.90% | +0.95% |
| Union Bank of India | Financial | 0.64% | ₹97.22 Cr | +0.85% | +1.64% | +0.48% |
| Axis Securities Ltd. | Others | 0.63% | ₹96.75 Cr | — | — | — |
| Birla Group Holdings Pvt. Ltd. | Financial | 0.63% | ₹96.70 Cr | +0.67% | +0.62% | — |
| Tamilnadu State | Others | 0.49% | ₹75.19 Cr | +0.53% | +0.50% | +1.32% |
| Cholamandalam Securities Ltd. | Financial | 0.44% | ₹67.57 Cr | +0.47% | +0.43% | — |
| Bharti Telecom Ltd. | Communication | 0.39% | ₹60.22 Cr | +0.53% | +0.50% | +1.30% |
| Bihar State | Others | 0.33% | ₹50.24 Cr | — | — | — |
| Karnataka State | Others | 0.33% | ₹50.25 Cr | — | — | +0.03% |
| Tata Capital Ltd. | Financial | 0.33% | ₹49.85 Cr | +0.35% | — | — |
| Bank Of Baroda | Financial | 0.32% | ₹48.56 Cr | +0.34% | +1.60% | +0.64% |
| Bank of India | Financial | 0.32% | ₹48.71 Cr | — | +0.07% | — |
| Credila Financial Services Ltd. | Financial | 0.32% | ₹48.36 Cr | +0.33% | +0.31% | +1.27% |
| Godrej Seeds & Genetics Ltd. | Consumer Staples | 0.32% | ₹49.37 Cr | +0.35% | +0.33% | +0.32% |
| Liquid Gold Series 14 | Others | 0.32% | ₹48.32 Cr | +0.44% | +0.52% | +0.98% |
| Punjab National Bank | Financial | 0.32% | ₹48.81 Cr | +1.69% | +1.41% | +1.74% |
| Liquid Gold Series 9 | Financial | 0.30% | ₹46.53 Cr | +0.41% | +0.48% | +0.91% |
| Godrej Industries Ltd. | Consumer Staples | 0.26% | ₹39.87 Cr | +0.35% | — | — |
| LIC Housing Finance Ltd. | Financial | 0.17% | ₹25.78 Cr | +0.01% | +0.33% | +0.33% |
| GOI | Sovereign | 0.16% | ₹24.96 Cr | +0.17% | +0.16% | +0.66% |
| Godrej Properties Ltd. | Construction | 0.16% | ₹25.05 Cr | +0.18% | +0.17% | +0.17% |
| Godrej Finance Ltd. | Financial | 0.03% | ₹5.01 Cr | +0.04% | — | — |
| Others | Others | -0.55% | ₹-81.48 Cr | +0.99% | +0.93% | +0.87% |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| Indusind Bank Ltd. | 1.84% | 0.64% | -1.20% |
| Vedanta Ltd. | 1.26% | 0.66% | -0.60% |
| Tata Capital Housing Finance Ltd. | 0.15% | 0.65% | +0.50% |
| Torrent Pharmaceuticals Ltd. | 0.89% | 1.30% | +0.41% |
| Reserve Bank of India | 1.22% | 1.62% | +0.40% |
| Axis Bank Ltd. | 4.31% | 4.53% | +0.22% |
| National Bank For Agriculture & Rural Development | 3.61% | 3.77% | +0.16% |
| Small Industries Devp. Bank of India Ltd. | 2.22% | 2.34% | +0.12% |
| Mindspace Business Parks REIT | 1.78% | 1.87% | +0.09% |
| Yes Bank Ltd. | 1.51% | 1.59% | +0.08% |
| HDFC Bank Ltd. | 1.52% | 1.59% | +0.07% |
| Maharashtra State | 1.87% | 1.94% | +0.07% |
| Adani Power Ltd. | 1.18% | 1.24% | +0.06% |
| Poonawalla Fincorp Ltd. | 1.25% | 1.31% | +0.06% |
| Punjab & Sind Bank | 1.21% | 1.27% | +0.06% |
| Tata Projects Ltd. | 1.26% | 1.31% | +0.05% |
| IIFL Finance Ltd. | 0.91% | 0.96% | +0.05% |
| Piramal Finance Ltd. | 1.10% | 1.15% | +0.05% |
| Jubilant Bevco Ltd. | 0.70% | 0.74% | +0.04% |
| Madhya Pradesh State | 0.95% | 0.99% | +0.04% |
| Mahindra & Mahindra Financial Services Ltd. | 0.62% | 0.66% | +0.04% |
| Manappuram Finance Ltd. | 0.61% | 0.65% | +0.04% |
| Nuvama Wealth Finance Ltd. | 0.94% | 0.98% | +0.04% |
| The Federal Bank Ltd. | 0.76% | 0.80% | +0.04% |
| ICICI Home Finance Company Ltd. | 0.78% | 0.82% | +0.04% |
| Mankind Pharma Ltd. | 0.78% | 0.82% | +0.04% |
| Tata Housing Devp. Co. Ltd | 0.92% | 0.96% | +0.04% |
| Axis Securities Ltd. | 0.60% | 0.63% | +0.03% |
| Bahadur Chand Investments Pvt. Ltd. | 0.62% | 0.65% | +0.03% |
| Birla Group Holdings Pvt. Ltd. | 0.60% | 0.63% | +0.03% |
| Canara Bank | 0.61% | 0.64% | +0.03% |
| Gujarat State | 0.63% | 0.66% | +0.03% |
| Power Finance Corporation Ltd. | 0.62% | 0.65% | +0.03% |
| Radhakrishna Securitisation Trust | 1.28% | 1.31% | +0.03% |
| Union Bank of India | 0.61% | 0.64% | +0.03% |
| Embassy Office Parks REIT | 0.45% | 0.48% | +0.03% |
| Muthoot Finance Ltd. | 0.45% | 0.48% | +0.03% |
| Bank Of Baroda | 0.30% | 0.32% | +0.02% |
| Bank of India | 0.30% | 0.32% | +0.02% |
| Cholamandalam Securities Ltd. | 0.42% | 0.44% | +0.02% |
| Credila Financial Services Ltd. | 0.30% | 0.32% | +0.02% |
| Punjab National Bank | 0.30% | 0.32% | +0.02% |
| Tamilnadu State | 0.47% | 0.49% | +0.02% |
| Tata Capital Ltd. | 0.31% | 0.33% | +0.02% |
| Bharti Telecom Ltd. | 0.38% | 0.39% | +0.01% |
| Bihar State | 0.32% | 0.33% | +0.01% |
| Godrej Seeds & Genetics Ltd. | 0.31% | 0.32% | +0.01% |
| Karnataka State | 0.32% | 0.33% | +0.01% |
| LIC Housing Finance Ltd. | 0.16% | 0.17% | +0.01% |
| Liquid Gold Series 9 | 0.31% | 0.30% | -0.01% |
| Others | 0.30% | 0.31% | +0.01% |
| company:6884 | 0.01% | 0.00% | -0.01% |
| 360 ONE Wealth Ltd. | 0.06% | 0.06% | 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% |
| Liquid Gold Series 14 | 0.32% | 0.32% | 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 | ₹1,099 Cr | 0.29% | 6.6% | — | — |
 Aditya Birla Sun Life CRISIL-IBX Financial Services 3 to 6 Months Debt Index Fund | ₹2,407 Cr | 0.37% | 6.7% | — | — |
 HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund | ₹1,986 Cr | 0.25% | 6.8% | — | — |
 ICICI Prudential CRISIL-IBX Financial Services 3-6 Months Debt Index Fund | ₹575 Cr | 0.18% | 6.7% | — | — |
| Kotak CRISIL-IBX Financial Services 3-6 Months Debt Index Fund | ₹359 Cr | 0.36% | 6.4% | — | — |
 Axis CRISIL-IBX Financial Services 3-6 Months Debt Index Fund | ₹170 Cr | 0.27% | 6.6% | — | — |
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 months2.96% absolute | ₹60,000 | ₹61,776 | 2.96% | |
| 1 year5.84% annualised | ₹1,20,000 | ₹1,23,865 | 3.22% | |
| 3 years6.66% annualised | ₹3,60,000 | ₹3,99,474 | 10.96% | |
| 5 years6.16% annualised | ₹6,00,000 | ₹7,04,173 | 17.36% |
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 ₹46.39 as on 9 Nov 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 5.8% over 1 year, 6.4% 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 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 97 schemes with ₹6,34,000 Cr under management.