Axis Ultra Short Term fund is an Ultra Short fund run by Axis Mutual Fund. On 30-09-2026, it managed ₹4,996 Cr of investors' money. In the 3 years to 30-10-2026, its Direct plan returned 7.4% a year and its Regular plan returned 6.5% a year. Its benchmark, NIFTY Ultra Short Duration Debt Index A-I, returned 7.2% a year over the same 3 years.
NAV (Direct plan)
₹17.03
▲ 0.02% · 30-10-2026
NAV (Regular plan)
₹15.87
▲ 0.02% · 30-10-2026
Expense ratio
0.36%Direct1.24%Regular
0.36%
A year
Riskometer
Moderate
Set by the fund house
3 year return
7.4%Direct6.5%Regular
7.4%
A year
Axis Ultra Short Term fund NAV Today
NAV on 30-10-2026: Direct Plan Growth ₹17.03 (up 0.02% that day); Regular Plan Growth ₹15.87 (up 0.02% that day).
This fund (Direct plan)
₹17.0275
Axis Ultra Short Term fund Returns vs NIFTY Ultra Short Duration Debt Index A-I
Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.
Trailing returns
Period
1M
3M
6M
1Y
3Y
5Y
10Y
This fund (Direct)
+0.36%
+1.53%
+3.34%
+6.56%
+7.37%
+6.82%
--
This fund (Regular)
+0.28%
+1.31%
+2.89%
+5.66%
+6.49%
+5.91%
--
NIFTY Ultra Short Duration Debt Index A-I
+0.53%
+1.65%
+3.66%
+6.67%
+7.20%
+6.59%
--
Ultra Short average
+0.30%
+1.34%
+3.06%
+6.00%
+6.82%
+6.27%
--
Best in Ultra Short
+0.39%
+1.59%
+3.46%
+6.84%
+7.44%
+6.82%
--
Worst in Ultra Short
−0.11%
0.00%
+0.02%
0.00%
0.00%
+0.41%
--
Rank in Ultra Short
4/26
3/25
3/25
3/25
3/23
1/22
--
Category rows compare the Direct plans of 26 Ultra Short funds. Rank 1 is the highest return. The benchmark row is as on 30-09-2026, as NSE published it.
Axis Ultra Short Term fund Year-wise Returns
Return of each calendar year
Year
Direct
Regular
2026to date
+5.47%
+4.72%
2025
+7.48%
+6.60%
2024
+7.91%
+7.03%
2023
+7.46%
+6.53%
2022
+5.08%
+4.16%
2021
+4.09%
+3.17%
Axis Ultra Short Term fund Rolling Returns
The return of every holding period in the fund's history, not only the one that ends today
Rolling returns
Each point is the yearly return of one 3-year holding period, plotted on the day it ended. There are 1,251 periods, one for each trading day from 13-09-2021 to 30-10-2026.
0%2%4%6%8%
Axis Ultra Short Term fund (Direct)
Category average, 26 Ultra Short funds
Feb 2019 to Feb 2022Dec 2019 to Dec 2022Nov 2020 to Nov 2023Sept 2021 to Sept 2024Aug 2022 to Aug 2025Jun 2023 to Jun 2026
Axis Ultra Short Term fund (Direct)Category average, 26 Ultra Short funds
0%
0%
Below 0%
0%
26%
0-5%
100%
74%
5-10%
0%
0%
10-15%
0%
0%
15-20%
0%
0%
20-25%
0%
0%
Above 25%
Every holding period at a glance
Period
Periods
Median
Lowest
Highest
With a loss
Category median
Beat category
1 year
1,735
7.1%
3.8%
9.2%
0%
6.5%
100%
2 years
1,491
6.9%
4.3%
8.0%
0%
6.3%
100%
3 years
1,251
6.3%
5.1%
7.7%
0%
5.8%
100%
5 years
764
6.3%
6.1%
6.8%
0%
5.8%
100%
7 years
277
6.6%
6.4%
6.8%
0%
6.1%
100%
Every SIP holding period at a glance
Period
Periods
Median
Lowest
Highest
With a loss
Category median
Beat category
1 year
86
7.0%
3.7%
9.2%
0%
6.6%
100%
2 years
74
6.9%
4.0%
8.1%
0%
6.3%
100%
3 years
62
6.6%
4.6%
7.9%
0%
6.1%
100%
5 years
38
6.8%
5.9%
7.2%
0%
6.3%
100%
Lumpsum: the yearly rate (CAGR) from the NAV on a period's first day to the NAV on its last. SIP: the XIRR of the monthly instalments and their value on the last day. "With a loss" counts the periods that ended below the money put in. "Beat category" counts the periods in which the fund did better than the average of the 26 Ultra Short funds (Direct plans, each weighted the same) over the same days. Past returns do not promise future returns.
Axis Ultra Short Term fund Risk
How much it swings, and the falls an investor had to sit through
Risk and return
Measure
Axis Ultra Short Term fund (Direct)This fund
Category average
Return (CAGR)
+6.56%
+6.00%
Standard deviation
0.45%
0.44%
Sharpe ratio
2.91
1.73
Sortino ratio
4.92
2.73
Maximum drawdown
−0.09%
(21-05-2026)
−0.09%
(08-07-2026)
From daily NAVs, 30-10-2025 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls.
Measure
Axis Ultra Short Term fund (Direct)This fund
Category average
Return (CAGR)
+7.37%
+6.81%
Standard deviation
0.38%
0.36%
Sharpe ratio
3.53
2.17
Sortino ratio
7.07
3.92
Maximum drawdown
−0.09%
(21-05-2026)
−0.09%
(08-07-2026)
From daily NAVs, 30-10-2023 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls.
Measure
Axis Ultra Short Term fund (Direct)This fund
Category average
Return (CAGR)
+6.82%
+6.28%
Standard deviation
0.37%
0.34%
Sharpe ratio
2.77
1.40
Sortino ratio
5.12
2.37
Maximum drawdown
−0.22%
(06-05-2022)
−0.22%
(06-05-2022)
From daily NAVs, 29-10-2021 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls.
Measure
Axis Ultra Short Term fund (Direct)This fund
Category average
Return (CAGR)
+6.75%
+6.13%
Standard deviation
0.51%
0.51%
Sharpe ratio
2.92
1.71
Sortino ratio
6.08
2.76
Maximum drawdown
−0.81%
(24-03-2020)
−0.77%
(24-03-2020)
From daily NAVs, 12-09-2018 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls.
Drawdowns
How far below its previous high each one was on every day: the falls an investor had to sit through. 0% means it was at a new high.
−1%−0.8%−0.6%−0.4%−0.2%0%
Axis Ultra Short Term fund (Direct)
Category average, 26 Ultra Short funds
20192020202120222023202420252026
Axis Ultra Short Term fund (Direct)Category average, 26 Ultra Short funds
Worst fall
High before it
Bottom
Back at the high
Time to climb back
Below its high today
Axis Ultra Short Term fund (Direct)
−0.81%
11-03-2020
24-03-2020
27-03-2020
3 days
0.0%
Category average
−0.77%
11-03-2020
24-03-2020
27-03-2020
3 days
0.0%
From the Direct plan's daily NAV since 12-09-2018, adjusted for unit splits, and the average of the 26 Ultra Short funds (Direct plans, each weighted the same) over the same days. "Time to climb back" runs from the bottom to the first day back at the old high.
Axis Ultra Short Term fund vs Other Ultra Short Funds
The five Ultra Short funds with the best three year return, and this fund. Direct plans.
AUM is each fund's size at the end of its last reported month, from its own portfolio file. We calculate the risk ratios from daily NAVs over the last three years. The risk-free return is what NSE's overnight rate index earned over the same years. Alpha and beta compare each fund with its own benchmark's TRI. "--" means we have no figure: for alpha and beta, no daily series for that benchmark.
Axis Ultra Short Term fund Expense Ratio and Costs
What each plan charges a year, in force from 22-10-2026
Plan
Base expense ratio
Brokerage
Transaction costs
Levies and GST
Total expense ratio
Ultra Short median
Cost rank (1 = cheapest)
Direct
0.30%
0.01%
0.00%
0.05%
0.36%
0.30%
21/26
Regular
1.06%
0.01%
0.00%
0.17%
1.24%
0.81%
24/26
The expense ratio comes out of the fund's assets every day, so every return on this page is already after it. Base expense ratio: the fund house's own fee. The total adds brokerage, the cost of executing trades, and statutory levies with GST. From AMFI's expense ratio file. Cost rank: where this plan comes when the Ultra Short funds' plans of the same type are sorted from the lowest total expense ratio to the highest.
Direct vs Regular: what the gap cost
Both plans own the same portfolio, so the difference in what they earned is the Regular plan's extra cost, taken out of its NAV.
Over the last
Regular
Direct
Direct earned more by
₹1 lakh became (Regular)
₹1 lakh became (Direct)
1 year
5.66%
6.56%
0.90%
₹1,05,660
₹1,06,560
3 years
6.49%
7.37%
0.88% a year
₹1,20,761
₹1,23,780
5 years
5.91%
6.82%
0.91% a year
₹1,33,255
₹1,39,079
Returns over more than 1 year are a rate a year (CAGR). ₹1 lakh invested once at the start of each period, valued on the last NAV.
Axis Ultra Short Term fund SIP Calculator
What a one-time or monthly investment in this fund would be worth today, from its own NAV history
Growth of an investment
Step up each year
PeriodFor
₹10,000 on the first trading day of every month, from 12-09-2018 to 30-10-2026: 98 instalments, ₹9,80,000 in all.
Investment
Invested
Value now
Gain
Return a year
Direct planAxis Ultra Short Term fund (Direct)
₹9,80,000
₹12,96,684
₹3,16,684
6.7%
Regular planAxis Ultra Short Term fund (Regular)
₹9,80,000
₹12,48,512
₹2,68,512
5.8%
Category averageCategory average, 26 Ultra Short funds
₹9,80,000
₹12,68,400
₹2,88,400
6.2%
₹0₹5.0 L₹10.0 L₹15.0 L
Direct planAxis Ultra Short Term fund (Direct)
Regular planAxis Ultra Short Term fund (Regular)
Category averageCategory average, 26 Ultra Short funds
Amount invested
20192020202120222023202420252026
Direct planAxis Ultra Short Term fund (Direct)Regular planAxis Ultra Short Term fund (Regular)Category averageCategory average, 26 Ultra Short fundsAmount invested
From each plan's published NAV (Growth option) and the category average, over the same days. Return a year: XIRR for a SIP, CAGR for a lumpsum, shown for a year or more. It does not include exit load, stamp duty or tax. Past returns do not promise future returns.
Axis Ultra Short Term fund Asset Allocation
Asset allocation as on 30-09-2026
What the fund holds
98.4%Debt
Asset
Fund
Category
Debt
98.4%
96.7%
Cash and others
1.6%
3.8%
Credit rating
Bonds and money market papers by credit rating, % of the fund. Category: the average of 26 Ultra Short funds.
Rating
Fund
Category
Sovereign
3.6%
7.3%
AAA and A1+
69.0%
77.2%
AA
25.8%
12.2%
Axis Ultra Short Term fund Portfolio Holdings
As on 30-09-2026 · 76 holdings · from the fund house's monthly portfolio
Holdings
Rating
Weight%
Small Industries Dev Bank of India (28/01/2027) · Certificate of deposit
CARE A1+
5.87%
HDFC Bank Limited (15/01/2027) · Certificate of deposit
CARE A1+
5.40%
Punjab National Bank (09/02/2027) · Certificate of deposit
CRISIL A1+
5.37%
Canara Bank (28/01/2027) · Certificate of deposit
CRISIL A1+
4.41%
8.03% Mindspace Business Parks REIT (10/12/2026) · Bond
CRISIL AAA
4.01%
National Bank For Agriculture and Rural Development (14/01/2027) · Certificate of deposit
IND A1+
3.93%
National Bank For Agriculture and Rural Development (02/03/2027) · Certificate of deposit
CRISIL A1+
2.92%
IDBI Bank Limited (11/03/2027) · Certificate of deposit
CRISIL A1+
2.91%
IndusInd Bank Limited (09/03/2027) · Certificate of deposit
CRISIL A1+
2.43%
JTPM Metal Traders Limited (29/09/2028) (ZCB) · Bond
CRISIL AA
2.40%
182 Days Tbill (MD 17/12/2026) · Treasury bill
Sovereign
2.18%
LIC Housing Finance Limited (11/02/2027) · Commercial paper
CRISIL A1+
2.05%
8.65% Muthoot Finance Limited (23/09/2027) · Bond
ICRA AA+
2.05%
9.40% Vedanta Aluminium Metal Limited (20/02/2027) · Bond
ICRA AA+
2.01%
9% Piramal Finance Limited (28/06/2027) · Bond
CARE AA+
2.01%
8.25% Narayana Hrudayalaya Limited (19/03/2029) · Bond
ICRA AA
2.00%
IndusInd Bank Limited (27/01/2027) · Certificate of deposit
CRISIL A1+
1.96%
HDFC Bank Limited (12/03/2027) · Certificate of deposit
CARE A1+
1.94%
7.38% Cholamandalam Investment and Finance Company Ltd (28/05/2027) · Bond
ICRA AA+
1.79%
Small Industries Dev Bank of India (04/02/2027) · Certificate of deposit
CARE A1+
1.47%
Canara Bank (02/02/2027) · Certificate of deposit
CRISIL A1+
1.47%
Punjab National Bank (04/03/2027) · Certificate of deposit
CARE A1+
1.46%
National Bank For Agriculture and Rural Development (17/03/2027) · Certificate of deposit
CRISIL A1+
1.45%
9% IKF Finance Limited (12/09/2028) · Bond
CARE AA-
1.20%
7.8989% Aditya Birla Housing Finance Limited (08/06/2027) · Bond
CRISIL AAA
1.20%
Liquid Gold Series (20/11/2028)
CRISIL AAA(SO)
1.19%
9.25% SK Finance Limited (24/10/2027) · Bond
ICRA AA-
1.10%
360 One Prime Limited (25/07/2028) (FRN) · Bond
ICRA AA
1.01%
7.97% Mankind Pharma Limited (16/11/2027) · Bond
CRISIL AA+
1.00%
8.75% Piramal Finance Limited (29/10/2027) · Bond
ICRA AA+
1.00%
7.55% Poonawalla Fincorp Limited (25/03/2027) · Bond
CRISIL AAA
1.00%
Godrej Industries Limited (12/10/2026) · Commercial paper
CRISIL A1+
1.00%
7.58% Poonawalla Fincorp Limited (08/09/2028) · Bond
CRISIL AAA
1.00%
8.75% 360 One Prime Limited (10/09/2027) · Bond
ICRA AA
1.00%
7.8% National Bank For Agriculture and Rural Development (15/03/2027) · Bond
ICRA AAA
1.00%
9.15% Nuvama Wealth Finance Limited (26/06/2028) · Bond
ICRA AA
1.00%
9% Nuvama Wealth Finance Limited (22/07/2027) · Bond
CARE AA
1.00%
6.65% LIC Housing Finance Limited (15/02/2027) · Bond
CRISIL AAA
1.00%
6.70% Aditya Birla Housing Finance Limited (22/01/2027) · Bond
ICRA AAA
1.00%
8.03% Aditya Birla Housing Finance Limited (15/03/2027) · Bond
ICRA AAA
1.00%
ICICI Home Finance Company Limited (28/12/2026) · Commercial paper
ICRA A1+
0.99%
Punjab National Bank (05/02/2027) · Certificate of deposit
CRISIL A1+
0.98%
Union Bank of India (03/03/2027) · Certificate of deposit
ICRA A1+
0.97%
AU Small Finance Bank Limited (18/02/2027) · Certificate of deposit
CRISIL A1+
0.97%
91 Days Tbill (MD 15/10/2026) · Treasury bill
Sovereign
0.80%
7.25% Torrent Power Limited (03/03/2027) · Bond
CRISIL AA+
0.70%
8.30% Godrej Properties Limited (19/03/2027) · Bond
ICRA AA+
0.70%
National Bank For Agriculture and Rural Development (28/01/2027) · Certificate of deposit
ICRA A1+
0.69%
8.8% 360 One Prime Limited (22/06/2028) · Bond
ICRA AA
0.60%
Liquid Gold Series (20/01/2028)
CRISIL AAA(SO)
0.58%
Sansar Trust (25/04/2031)
CRISIL AAA(SO)
0.58%
Cholamandalam Investment and Finance Company Ltd (27/02/2029) (FRN) · Bond
ICRA AA+
0.50%
6.54% Maharashtra State Development Loans (09/02/2027) · State government security
Sovereign
0.50%
8.95% Phoenix Arc Limited (23/03/2028) · Bond
CRISIL AA
0.50%
9.10% Shriram Finance Limited (18/03/2027) · Bond
CRISIL AAA
0.50%
8.52% Muthoot Finance Limited (07/04/2028) · Bond
CRISIL AA+
0.50%
7.69% LIC Housing Finance Limited (11/12/2026) · Bond
CRISIL AAA
0.50%
8.75% Godrej Finance Limited (18/01/2027) · Bond
CRISIL AA+
0.50%
Union Bank of India (02/03/2027) · Certificate of deposit
ICRA A1+
0.49%
8.95% Phoenix Arc Limited (22/12/2028) · Bond
CRISIL AA
0.49%
Punjab & Sind Bank (12/03/2027) · Certificate of deposit
ICRA A1+
0.49%
Small Industries Dev Bank of India (14/01/2027) · Certificate of deposit
CRISIL A1+
0.49%
Small Industries Dev Bank of India (04/12/2026) · Certificate of deposit
CARE A1+
0.49%
Export Import Bank of India (14/12/2026) · Commercial paper
CRISIL A1+
0.49%
Canara Bank (29/01/2027) · Certificate of deposit
CRISIL A1+
0.49%
Bank of Baroda (15/12/2026) · Certificate of deposit
IND A1+
0.49%
8.32% Torrent Power Limited (28/02/2027) · Bond
CRISIL AA+
0.38%
SBI - Corporate Debt Market Development Fund (CDMDF) - Class A2
0.36%
8.95% 360 One Prime Limited (04/06/2027) · Bond
ICRA AA
0.20%
Sansar Trust (25/06/2030)
CRISIL AAA(SO)
0.11%
7.27% Sundaram Home Finance Limited (24/05/2027) · Bond
ICRA AAA
0.10%
7.64% Uttar Pradesh State Development Loans (29/03/2027) · State government security
Sovereign
0.10%
9.4% IndoStar Capital Finance Limited (18/06/2027) · Bond
CARE AA-
0.10%
7.44% National Bank For Agriculture and Rural Development (24/02/2028) · Bond
CRISIL AAA
0.10%
7.70% National Bank For Agriculture and Rural Development (30/09/2027) · Bond
ICRA AAA
0.10%
7.88% Muthoot Finance Limited (22/11/2028) · Bond
CRISIL AA+
0.02%
Axis Ultra Short Term fund Portfolio Overlap
Funds with the most similar portfolios, across every fund house and category
Overlap: for each holding both funds own, the smaller of its two weights, added up. 40% means 40% of each fund's money sits in positions the other also holds. From each fund's latest monthly portfolio, matched by ISIN. Cash and hedged positions are left out. Funds that overlap under 10% are not listed. A high overlap does not make two funds the same: their costs, lock-in and category can differ.
Axis Ultra Short Term fund Overview
Fund facts from the scheme summary document, as on 16-10-2026
Expense ratio (Direct)
0.36%
Expense ratio (Regular)
1.24%
Category
Ultra Short
Risk
Moderate
Launch date
10-09-2018
Minimum investment
₹100
Minimum additional investment
₹100
AUM
₹4,996.13 Cr (30-09-2026)
Lock in
None
Scheme code (Direct)
144754
ISIN (Direct)
INF846K01F40
Scheme code (Regular)
144759
ISIN (Regular)
INF846K01G23
NAV history
From 12-09-2018, 8.1 years
Benchmark
NIFTY Ultra Short Duration Debt Index A-I
Exit load
Nil
Tax on Axis Ultra Short Term fund returns
Axis Ultra Short Term fund is taxed as a debt fund: 65% or more of it is in bonds and money market papers.
For units bought on or after 01-04-2023, the gain is added to your income and taxed at your slab rate, however long you hold the units.
IDCW (dividend) payouts are added to your income and taxed at your slab rate.
A stamp duty of 0.005% is deducted when you invest.
Rules in force from 23-07-2024 (Finance Act 2024). Tax depends on your own income; this is general information, not tax advice.
All plans and options
Plan
Option
NAV
As on
direct
Growth
₹17.0275
30-10-2026
direct
Daily IDCW
₹10.0338
30-10-2026
direct
Monthly IDCW
₹10.0192
30-10-2026
direct
IDCW
₹17.0288
30-10-2026
direct
Weekly IDCW
₹10.0587
30-10-2026
regular
Growth
₹15.871
30-10-2026
regular
Daily IDCW
₹10.0689
30-10-2026
regular
Monthly IDCW
₹10.0286
30-10-2026
regular
IDCW
₹15.871
30-10-2026
regular
Weekly IDCW
₹10.0732
30-10-2026
About Axis Ultra Short Term fund
Axis Ultra Short Term fund is a mutual fund from Axis Mutual Fund. Its category is Ultra Short. It was launched on 10-09-2018. Its benchmark is NIFTY Ultra Short Duration Debt Index A-I. At the end of September 2026 it held 76 securities.
Fund Manager
Sachin Jain
Fund manager of Axis Ultra Short Term fund, since 04-09-2020
Hardik Shah
Fund manager of Axis Ultra Short Term fund, since 04-11-2024
Frequently Asked Questions for Axis Ultra Short Term fund
What is the current NAV of Axis Ultra Short Term fund?
The Direct plan NAV is ₹17.0275. The Regular plan NAV is ₹15.871, as on 30-10-2026.
What are the returns of Axis Ultra Short Term fund?
The Direct plan returned +6.56% in 1 year, +7.37% a year over 3 years, +6.82% a year over 5 years. The Regular plan returned +5.66% in 1 year, +6.49% a year over 3 years, +5.91% a year over 5 years. These figures are as on 30-10-2026.
What is the expense ratio of Axis Ultra Short Term fund?
The Direct plan charges 0.36% a year. The Regular plan charges 1.24% a year. This is the figure the fund house reported to AMFI, in force from 22-10-2026.
What is the AUM of Axis Ultra Short Term fund?
Axis Ultra Short Term fund managed ₹4,996.13 Cr on 30-09-2026, as its fund house reported in its monthly portfolio.
What are the top holdings of Axis Ultra Short Term fund?
At the end of September 2026 the largest holdings were Small Industries Dev Bank of India (28/01/2027) (5.87%), HDFC Bank Limited (15/01/2027) (5.40%), Punjab National Bank (09/02/2027) (5.37%), Canara Bank (28/01/2027) (4.41%), 8.03% Mindspace Business Parks REIT (10/12/2026) (4.01%). The fund held 76 securities in all.
How do I invest in Axis Ultra Short Term fund?
Through Axis Mutual Fund's website or app, a mutual fund distributor, or an investment platform. Choose the Direct plan to pay no distributor commission, or the Regular plan to invest through a distributor. The first investment is at least ₹100. You can invest once or through a monthly SIP.
Who is the fund manager of Axis Ultra Short Term fund?
Sachin Jain (since 04-09-2020), Hardik Shah (since 04-11-2024).
What is the exit load of Axis Ultra Short Term fund?
Nil
Sources: NAV and expense ratio from AMFI. Holdings from the fund house's monthly portfolio statement. Fund facts from its scheme summary document, as on 16-10-2026.
This page is information, not investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Past returns do not promise future returns. Figures come from AMFI, NSE, BSE and each fund house's own documents.
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