Mirae Asset Ultra Short to Short Term Fund
Low DurationLow to ModerateOPEN-ENDED
- NAV as on 24 Sep 2026
- ₹2,422.79-0.05%1 day
- Return since launch
- 4.9%
- 52-week range
- ₹2,292.86 — ₹2,423.93
- AUM
- ₹2,434 Cr
Mirae Asset Ultra Short to Short Term Fund is a Low Duration debt fund from Mirae Asset Mutual Fund with ₹2,434 Cr under management, launched in 2008. Over three years it has returned 6.5% a year, against 6.8% for its category. The expense ratio is 0.87% and the SEBI riskometer reading is Low to Moderate.
Performance
Mirae Asset 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 +5.7% 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 | 5.9% | +0.1 pts | 5.7% | 6.0% |
| 2Y | 6.1% | −0.1 pts | 6.2% | 6.3% |
| 3Y | 6.5% | −0.3 pts | 6.8% | 6.6% |
| 5Y | 6.5% | +0.4 pts | 6.1% | 6.6% |
| 7Y | 6.1% | −0.2 pts | 6.3% | 6.2% |
| 10Y | 5.9% | −0.3 pts | 6.3% | 6.2% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | 0.4% | 0.0 pts | 0.4% | 0.4% |
| 3M | 1.4% | −0.1 pts | 1.4% | 1.4% |
| 6M | 3.3% | 0.0 pts | 3.3% | 3.3% |
| 1Y | 5.7% | −0.1 pts | 5.7% | 5.8% |
| 2Y | 6.5% | −0.1 pts | 6.6% | 6.6% |
| 3Y | 6.8% | 0.0 pts | 6.8% | 6.8% |
| 5Y | 6.0% | −0.2 pts | 6.1% | 6.1% |
| 7Y | 5.7% | −0.5 pts | 6.2% | 6.0% |
| 10Y | 5.9% | −0.4 pts | 6.3% | 6.2% |
Since launch (29 Feb 2008): 4.9%
Calendar-year returns
Category average6.7%
3.1%
4.0%
6.6%
7.3%
7.1%
Show as a table
| Period | Fund | vs category | Category |
|---|---|---|---|
| 2025 | 7.1% | −0.7 pts | 7.8% |
| 2024 | 7.3% | −0.5 pts | 7.8% |
| 2023 | 6.6% | −0.8 pts | 7.4% |
| 2022 | 4.0% | −0.6 pts | 4.6% |
| 2021 | 3.1% | −1.6 pts | 4.6% |
| 2020 | 6.7% | −2.0 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
0.87%
Expense ratio as on 23 Sep 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 0.72%
- Brokerage
- 0.02%
- Transaction charges
- 0.00%
- Statutory levies
- 0.13%
- Exit load
- Exit load of 0.50% shall be charged if units are redeemed within 75 days from the date of allotment.
- 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.
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 | 1.34 | 1.93 | Return earned for each unit of total risk taken. Higher is better. |
| Sortino | 1.90 | 2.92 | Return earned for each unit of downside risk. Higher is better. |
| Std. deviation | 0.66 | 0.64 | How widely monthly returns have varied around their own average. Lower is steadier. |
| Average of 5 category peers | |||
Portfolio
Mirae Asset Ultra Short to Short Term Fund portfolio
Portfolio as of 31 Aug 2026
Asset allocation
- Debt93.4%
- Other6.6%
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| Others | Others | 6.87% | ₹167 Cr | +0.96% | +0.76% | +0.69% |
| National Bank For Agriculture & Rural Development | Financial | 6.48% | ₹158 Cr | +5.50% | +7.78% | +0.24% |
| REC Ltd. | Financial | 5.96% | ₹145 Cr | — | +1.47% | +1.10% |
| Power Finance Corporation Ltd. | Financial | 5.16% | ₹126 Cr | +2.48% | +2.01% | +1.65% |
| Small Industries Devp. Bank of India Ltd. | Financial | 4.59% | ₹112 Cr | +3.25% | +4.13% | +1.64% |
| Knowledge Realty Trust | Construction | 3.19% | ₹77.56 Cr | +3.55% | +2.88% | — |
| Tata Capital Housing Finance Ltd. | Financial | 2.97% | ₹72.40 Cr | +4.36% | +3.45% | +0.54% |
| company:5775 | Financial | 2.87% | ₹69.73 Cr | — | — | — |
| Export-Import Bank Of India | Financial | 2.50% | ₹60.73 Cr | +4.37% | +1.92% | +2.82% |
| SK Finance Ltd. | Financial | 2.05% | ₹49.80 Cr | — | — | — |
| company:5652 | Financial | 1.94% | ₹47.21 Cr | +1.09% | +0.90% | +0.68% |
| Manappuram Finance Ltd. | Financial | 1.84% | ₹44.82 Cr | +1.14% | — | — |
| Bajaj Finance Ltd. | Financial | 1.83% | ₹44.64 Cr | +1.84% | — | +2.68% |
| LIC Housing Finance Ltd. | Financial | 1.65% | ₹40.10 Cr | +2.16% | +0.37% | +1.08% |
| Indostar Capital Finance Ltd. | Financial | 1.64% | ₹39.94 Cr | +1.33% | +1.11% | +1.62% |
| Bajaj Housing Finance Ltd. | Financial | 1.60% | ₹38.89 Cr | +2.29% | +4.03% | +9.18% |
| ICICI Bank Ltd. | Financial | 1.39% | ₹33.73 Cr | +2.14% | +1.69% | — |
| Gujarat State | Construction | 1.04% | ₹25.23 Cr | +1.15% | +0.93% | — |
| Motilal Oswal Finevest Ltd. | Financial | 1.03% | ₹25.11 Cr | +1.15% | +0.93% | — |
| Tata Capital Ltd. | Financial | 1.03% | ₹25.05 Cr | — | — | — |
| Aditya Birla Renewables Ltd. | Energy | 1.03% | ₹25.04 Cr | — | — | — |
| Embassy Office Parks REIT | Construction | 1.03% | ₹25.00 Cr | +1.15% | +0.90% | +1.34% |
| Reserve Bank of India | Financial | 1.02% | ₹24.92 Cr | +1.38% | +3.67% | +5.20% |
| SPR Auto Technologies Ltd. | Automobile | 1.02% | ₹24.82 Cr | +1.13% | +0.92% | — |
| Bharti Telecom Ltd. | Communication | 1.02% | ₹24.78 Cr | +2.30% | +1.85% | +1.35% |
| Axis Bank Ltd. | Financial | 0.99% | ₹24.17 Cr | — | +0.90% | — |
| company:2119 | Construction | 0.99% | ₹24.09 Cr | — | — | — |
| Torrent Pharmaceuticals Ltd. | Healthcare | 0.98% | ₹23.86 Cr | +1.09% | +0.88% | — |
| Indian Bank | Financial | 0.97% | ₹23.67 Cr | — | +0.04% | +0.62% |
| Kotak Mahindra Bank Ltd. | Financial | 0.88% | ₹21.36 Cr | +1.09% | +1.73% | +1.30% |
| Kerala State | Others | 0.63% | ₹15.37 Cr | +0.70% | +0.57% | — |
| Godrej Industries Ltd. | Consumer Staples | 0.62% | ₹15.05 Cr | +0.69% | +0.56% | +0.82% |
| company:5500 | Financial | 0.60% | ₹14.58 Cr | +1.09% | — | +1.32% |
| India Infrastructure Finance Company Ltd. | Construction | 0.41% | ₹10.01 Cr | +0.46% | +0.37% | +0.54% |
| HDFC Bank Ltd. | Financial | 0.40% | ₹9.82 Cr | +0.23% | +0.04% | +0.05% |
| Shivshakti Securitisation Trust | Others | 0.40% | ₹9.72 Cr | +0.45% | +0.37% | — |
| GOI | Sovereign | 0.21% | ₹5.11 Cr | +0.23% | +0.19% | +0.28% |
| Cholamandalam Investment and Finance Company Ltd. | Financial | 0.21% | ₹5.00 Cr | +1.83% | +1.38% | +0.25% |
| Muthoot Finance Ltd. | Financial | 0.20% | ₹4.97 Cr | — | — | +0.93% |
| Karnataka State | Others | 0.10% | ₹2.52 Cr | +0.12% | +0.09% | +0.14% |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| National Bank For Agriculture & Rural Development | 5.15% | 0.81% | -4.34% |
| company:5775 | 0.00% | 2.87% | +2.87% |
| Reserve Bank of India | 3.66% | 1.02% | -2.63% |
| Mindspace Business Parks REIT | 2.42% | 0.00% | -2.42% |
| company:5652 | 0.00% | 1.94% | +1.94% |
| Kotak Mahindra Prime Ltd. | 1.45% | 0.00% | -1.45% |
| Small Industries Devp. Bank of India Ltd. | 2.39% | 1.03% | -1.36% |
| Cholamandalam Investment and Finance Company Ltd. | 1.47% | 0.21% | -1.27% |
| Export-Import Bank Of India | 1.43% | 0.20% | -1.23% |
| company:2119 | 0.00% | 0.99% | +0.99% |
| REC Ltd. | 3.68% | 2.88% | -0.80% |
| HDFC Bank Ltd. | 1.17% | 0.40% | -0.77% |
| LIC Housing Finance Ltd. | 2.35% | 1.65% | -0.70% |
| Bajaj Housing Finance Ltd. | 1.23% | 0.57% | -0.66% |
| Knowledge Realty Trust | 3.82% | 3.19% | -0.63% |
| company:5500 | 0.00% | 0.60% | +0.60% |
| Tata Capital Housing Finance Ltd. | 2.36% | 2.00% | -0.37% |
| Manappuram Finance Ltd. | 2.20% | 1.84% | -0.36% |
| Kotak Mahindra Bank Ltd. | 1.18% | 0.88% | -0.31% |
| ICICI Bank Ltd. | 1.64% | 1.39% | -0.25% |
| Tata Capital Ltd. | 1.23% | 1.03% | -0.20% |
| Bajaj Finance Ltd. | 1.22% | 1.02% | -0.20% |
| Motilal Oswal Finevest Ltd. | 1.23% | 1.03% | -0.20% |
| Gujarat State | 1.24% | 1.04% | -0.20% |
| SK Finance Ltd. | 1.22% | 1.03% | -0.20% |
| Aditya Birla Renewables Ltd. | 1.23% | 1.03% | -0.20% |
| SPR Auto Technologies Ltd. | 1.22% | 1.02% | -0.20% |
| Embassy Office Parks REIT | 1.22% | 1.03% | -0.20% |
| Bharti Telecom Ltd. | 1.21% | 1.02% | -0.20% |
| Torrent Pharmaceuticals Ltd. | 1.17% | 0.98% | -0.19% |
| Axis Bank Ltd. | 1.18% | 0.99% | -0.18% |
| Indian Bank | 1.15% | 0.97% | -0.18% |
| Power Finance Corporation Ltd. | 0.89% | 1.03% | +0.14% |
| Kerala State | 0.76% | 0.63% | -0.12% |
| Godrej Industries Ltd. | 0.74% | 0.62% | -0.12% |
| India Infrastructure Finance Company Ltd. | 0.49% | 0.41% | -0.08% |
| Shivshakti Securitisation Trust | 0.48% | 0.40% | -0.08% |
| Indostar Capital Finance Ltd. | 0.48% | 0.41% | -0.07% |
| Others | 0.34% | 0.29% | -0.05% |
| GOI | 0.25% | 0.21% | -0.04% |
| Muthoot Finance Ltd. | 0.24% | 0.20% | -0.04% |
| Karnataka State | 0.12% | 0.10% | -0.02% |
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 aims to enhance income consistent with a high level of liquidity, through a judicious portfolio mix of money market and debt instruments.
Fund managers
- Basant BafnaMr. Bafna has done B.Com, MBA, CS, CA, FRM and CFAPrior to joining Mirae Asset Mutual Fund, he has worked with India Exim Bank and Union Bank of India
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 months3.25% absolute | ₹60,000 | ₹61,950 | 3.25% | |
| 1 year5.65% annualised | ₹1,20,000 | ₹1,23,737 | 3.11% | |
| 3 years6.75% annualised | ₹3,60,000 | ₹4,00,043 | 11.12% | |
| 5 years5.96% annualised | ₹6,00,000 | ₹7,00,445 | 16.74% |
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 Mirae Asset Ultra Short to Short Term Fund?
The NAV of Mirae Asset Ultra Short to Short Term Fund is ₹2,422.79 as on 24 Sep 2026.
What is the expense ratio of Mirae Asset Ultra Short to Short Term Fund?
The expense ratio of Mirae Asset Ultra Short to Short Term Fund is 0.87% per year.
What is the minimum SIP amount for Mirae Asset Ultra Short to Short Term Fund?
You can start a SIP in Mirae Asset Ultra Short to Short Term Fund with ₹3,000 a month.
What returns has Mirae Asset Ultra Short to Short Term Fund given?
Mirae Asset Ultra Short to Short Term Fund has returned 5.9% over 1 year, 6.5% over 3 years and 6.5% over 5 years (annualised).
Is there a lock-in or exit load on Mirae Asset Ultra Short to Short Term Fund?
Lock-in: None. Exit load: Exit load of 0.50% shall be charged if units are redeemed within 75 days from the date of allotment..
How risky is Mirae Asset Ultra Short to Short Term Fund?
Mirae Asset Ultra Short to Short Term Fund is rated Low to Moderate on the SEBI riskometer and belongs to the Low Duration category.
Which fund house manages Mirae Asset Ultra Short to Short Term Fund?
Mirae Asset Ultra Short to Short Term Fund is managed by Mirae Asset Mutual Fund, which runs 52 schemes with ₹2,32,232 Cr under management.