Mahindra Manulife Ultra Short to Short Term Fund
- NAV as on 24 Sep 2026
- ₹1,751.92-0.05%1 day
- Return since launch
- 6.0%
- 52-week range
- ₹1,659.16 — ₹1,752.85
- AUM
- ₹535 Cr
Mahindra Manulife Ultra Short to Short Term Fund is a Low Duration debt fund from Mahindra Manulife Mutual Fund with ₹535 Cr under management, launched in 2017. Over three years it has returned 6.4% a year, against 6.8% for its category. The expense ratio is 1.08% and the SEBI riskometer reading is Moderate.
Performance
Mahindra Manulife 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 | 5.8% | +0.1 pts | 5.7% | 6.0% |
| 2Y | 6.0% | −0.2 pts | 6.2% | 6.3% |
| 3Y | 6.4% | −0.4 pts | 6.8% | 6.6% |
| 5Y | 6.4% | +0.2 pts | 6.1% | 6.6% |
| 7Y | 6.0% | −0.3 pts | 6.3% | 6.2% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | 0.4% | 0.0 pts | 0.4% | 0.4% |
| 3M | 1.3% | −0.1 pts | 1.4% | 1.4% |
| 6M | 3.2% | −0.1 pts | 3.3% | 3.3% |
| 1Y | 5.6% | −0.2 pts | 5.7% | 5.8% |
| 2Y | 6.4% | −0.2 pts | 6.6% | 6.6% |
| 3Y | 6.6% | −0.2 pts | 6.8% | 6.8% |
| 5Y | 5.8% | −0.3 pts | 6.1% | 6.1% |
| 7Y | 5.7% | −0.5 pts | 6.2% | 6.0% |
Since launch (14 Feb 2017): 6.0%
Calendar-year returns
Category averageShow as a table
| Period | Fund | vs category | Category |
|---|---|---|---|
| 2025 | 6.9% | −0.9 pts | 7.8% |
| 2024 | 7.1% | −0.7 pts | 7.8% |
| 2023 | 6.7% | −0.7 pts | 7.4% |
| 2022 | 3.7% | −0.9 pts | 4.6% |
| 2021 | 3.1% | −1.5 pts | 4.6% |
| 2020 | 6.3% | −2.4 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
1.08%
Expense ratio as on 23 Sep 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 0.94%
- Brokerage
- 0.01%
- Transaction charges
- 0.00%
- Statutory levies
- 0.13%
- Exit load
- 0%
- Lock-in
- None
Terms
- Min SIP
- ₹3,000
- Min lumpsum
- ₹5,000
- Plan
- GROWTH
- Fund type
- OPEN-ENDED
- Benchmark
- CRISIL Low Duration Debt A-I Index
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 | 1.25 | 1.93 | Return earned for each unit of total risk taken. Higher is better. |
| Sortino | 1.83 | 2.92 | Return earned for each unit of downside risk. Higher is better. |
| Std. deviation | 0.60 | 0.64 | How widely monthly returns have varied around their own average. Lower is steadier. |
| Average of 5 category peers | |||
Portfolio
Mahindra Manulife Ultra Short to Short Term Fund portfolio
Portfolio as of 31 Aug 2026
Asset allocation
- Debt92.5%
- Other7.5%
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| Small Industries Devp. Bank of India Ltd. | Financial | 9.11% | ₹48.68 Cr | +5.46% | +5.28% | +4.80% |
| LIC Housing Finance Ltd. | Financial | 8.42% | ₹45.01 Cr | +9.06% | +8.80% | +9.48% |
| National Bank For Agriculture & Rural Development | Financial | 8.40% | ₹44.91 Cr | +12.70% | +3.48% | +7.94% |
| Others | Others | 7.94% | ₹42.46 Cr | +1.65% | +1.55% | +1.35% |
| Mindspace Business Parks REIT | Construction | 6.54% | ₹34.95 Cr | +3.56% | +1.74% | +1.58% |
| REC Ltd. | Financial | 6.46% | ₹34.54 Cr | +9.06% | +7.16% | +7.92% |
| Embassy Office Parks REIT | Construction | 5.62% | ₹30.03 Cr | +9.08% | +8.82% | +8.02% |
| Power Finance Corporation Ltd. | Financial | 5.23% | ₹27.93 Cr | +9.04% | +3.50% | +11.08% |
| 360 ONE Wealth Ltd. | Financial | 4.50% | ₹24.08 Cr | +0.45% | +0.44% | +3.82% |
| Indian Bank | Financial | 4.43% | ₹23.67 Cr | — | — | — |
| Godrej Industries Ltd. | Consumer Staples | 4.41% | ₹23.57 Cr | +4.27% | +4.14% | +3.76% |
| TVS Credit Services Ltd. | Financial | 3.76% | ₹20.10 Cr | +3.64% | +3.54% | +3.21% |
| Piramal Finance Ltd. | Financial | 2.82% | ₹15.07 Cr | +2.73% | +2.64% | — |
| JM Financial Services Pvt. Ltd. | Financial | 2.79% | ₹14.92 Cr | +2.69% | +2.60% | — |
| Godrej Properties Ltd. | Construction | 1.88% | ₹10.04 Cr | +4.90% | +4.71% | +4.29% |
| Muthoot Finance Ltd. | Financial | 1.87% | ₹9.99 Cr | +1.82% | +1.77% | +3.19% |
| Reserve Bank of India | Financial | 1.86% | ₹9.94 Cr | +0.90% | +1.73% | +1.51% |
| Godrej Seeds & Genetics Ltd. | Consumer Staples | 1.85% | ₹9.87 Cr | +1.78% | +1.73% | — |
| Tata Housing Devp. Co. Ltd | Construction | 1.84% | ₹9.86 Cr | +1.78% | — | — |
| Gujarat State | Construction | 0.94% | ₹5.04 Cr | +0.92% | +1.76% | — |
| Karnataka State | Others | 0.94% | ₹5.02 Cr | +0.91% | +0.88% | +0.79% |
| JM Financial Products Ltd. | Financial | 0.94% | ₹5.01 Cr | +1.82% | +2.62% | +2.38% |
| Piramal Finance Pvt. Ltd. | Financial | 0.94% | ₹5.01 Cr | +0.90% | +0.87% | — |
| Indian Railway Finance Corporation Ltd. | Financial | 0.94% | ₹5.00 Cr | — | — | — |
| Union Bank of India | Financial | 0.91% | ₹4.87 Cr | — | — | — |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| National Bank For Agriculture & Rural Development | 6.48% | 1.87% | -4.61% |
| Axis Bank Ltd. Warrant | 4.56% | 0.00% | -4.56% |
| Power Finance Corporation Ltd. | 4.63% | 0.56% | -4.07% |
| JM Financial Products Ltd. | 1.85% | 0.94% | -0.91% |
| Kotak Mahindra Bank Ltd. | 0.89% | 0.00% | -0.89% |
| Indian Bank | 4.35% | 4.43% | +0.08% |
| 360 ONE Wealth Ltd. | 4.45% | 4.50% | +0.05% |
| REC Ltd. | 4.63% | 4.68% | +0.05% |
| Embassy Office Parks REIT | 4.64% | 4.69% | +0.05% |
| Godrej Industries Ltd. | 4.36% | 4.41% | +0.05% |
| LIC Housing Finance Ltd. | 4.63% | 4.68% | +0.05% |
| TVS Credit Services Ltd. | 3.72% | 3.76% | +0.04% |
| JM Financial Services Pvt. Ltd. | 2.76% | 2.79% | +0.03% |
| Piramal Finance Ltd. | 2.79% | 2.82% | +0.03% |
| Reserve Bank of India | 1.83% | 1.86% | +0.03% |
| Small Industries Devp. Bank of India Ltd. | 1.85% | 1.87% | +0.02% |
| Union Bank of India | 0.89% | 0.91% | +0.02% |
| Muthoot Finance Ltd. | 1.85% | 1.87% | +0.02% |
| Godrej Properties Ltd. | 1.86% | 1.88% | +0.02% |
| Godrej Seeds & Genetics Ltd. | 1.83% | 1.85% | +0.02% |
| Tata Housing Devp. Co. Ltd | 1.83% | 1.84% | +0.01% |
| Gujarat State | 0.93% | 0.94% | +0.01% |
| Mindspace Business Parks REIT | 1.83% | 1.84% | +0.01% |
| Karnataka State | 0.93% | 0.94% | +0.01% |
| Piramal Finance Pvt. Ltd. | 0.93% | 0.94% | +0.01% |
| Indian Railway Finance Corporation Ltd. | 0.93% | 0.94% | +0.01% |
| Others | 0.34% | 0.34% | 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% | 6.3% | 6.9% | 6.9% |
 ICICI Prudential Ultra Short to Short Term Fund | ₹21,047 Cr | 0.53% | 6.3% | 7.0% | 7.1% |
 Tata Ultra Short to Short Term Fund | ₹2,871 Cr | 0.57% | 6.3% | 6.7% | 6.7% |
 UTI Ultra Short to Short Term Fund | ₹2,680 Cr | 0.48% | 6.3% | 6.9% | 6.9% |
 Aditya Birla Sun Life CRISIL-IBX Financial Services 9-12 Months Debt Index Fund | ₹1,228 Cr | 0.36% | 6.4% | — | — |
 Mirae Asset CRISIL-IBX Financial Services 9-12 Months Debt Index Fund | ₹138 Cr | 0.29% | 6.3% | — | — |
About
About this fund
The scheme’s own words, its benchmark and the people running it.
Investment objective
The Scheme seeks to provide reasonable returns commensurate with a low to moderate level of risk and high degree of liquidity, through a portfolio constituted of money market and debt instruments.
Fund managers
- Amit GargMr Garg is a B.Com, MMS Finance, CFAPrior to joining Mahindra Manulife Investment Management Pvt. Ltd., he has worked with Darashaw & Co. and Daiwa Asset Management (India) Pvt. Ltd.
- Rahul PalMr. Pal is a B.Com (H) and Chartered Accountant.Prior to joining Mahindra Manulife Mutual Fund, he has worked with Taurus AMC, Sundaram Mutual Fund and IDBI Mutual Fund.
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 months3.19% absolute | ₹60,000 | ₹61,914 | 3.19% | |
| 1 year5.58% annualised | ₹1,20,000 | ₹1,23,690 | 3.07% | |
| 3 years6.60% annualised | ₹3,60,000 | ₹3,99,094 | 10.86% | |
| 5 years5.84% annualised | ₹6,00,000 | ₹6,98,220 | 16.37% |
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.