360 One Overnight Fund vs Axis Overnight Fund
Direct Plan, Growth option · Data as on 30-10-2026
360 One Overnight Fund and Axis Overnight Fund are both Overnight funds. In the year to 30-10-2026, 360 One Overnight Fund (Direct) returned 5.3% and Axis Overnight Fund (Direct) returned 5.3%. 360 One Overnight Fund charges 0.13% a year and Axis Overnight Fund 0.09% (Direct plans). Their portfolios overlap 1.4%: they hold 1 of the same security.
360 One Overnight Fund
Overnight
- 1 year return
- 5.3%
- Expense ratio
- 0.13%
- NAV
- ₹1,070.88
Which is better, 360 One Overnight or Axis Overnight? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- 360 One Overnight returned more over 1 year: 5.3% against 5.3%.
- Axis Overnight costs less: 0.09% a year against 0.13% (Direct plans).
- Axis Overnight is the larger fund: ₹10,855 Cr against ₹358 Cr.
- Their portfolios overlap 1.4%: 1 of the same holdings.
Past returns do not promise future returns. This page is information, not investment advice.
Key facts
From each fund's scheme summary document and AMFI
| Fact | 360 One Overnight Fund | Axis Overnight Fund |
|---|---|---|
| Fund house | 360 ONE Mutual Fund | Axis Mutual Fund |
| Category | Overnight | Overnight |
| AUM | ₹358 Cr (30-09-2026) | ₹10,855 Cr (30-09-2026) |
| NAV | ₹1,070.88 (Direct) | ₹1,469.05 (Direct) |
| Expense ratio (Direct) | 0.13% | 0.09% |
| Expense ratio (Regular) | 0.21% | 0.13% |
| Riskometer | Low | Low |
| Benchmark | Nifty 1D Rate Index | Nifty 1D Rate Index |
| Launch date | 10-07-2025 | 15-03-2019 |
| Minimum investment | ₹5,000 | ₹100 |
| Lock in | None | None |
| Fund managers | Milan Mody | Sachin Jain, Hardik Satra |
| Exit load | Nil | Nil |
360 One Overnight vs Axis Overnight: Returns Comparison
Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.
| Fund | 1M | 3M | 6M | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|---|---|---|
| 360 One Overnight Fund (Direct) | +0.45% | +1.30% | +2.60% | +5.31% | -- | -- | -- |
| Axis Overnight Fund (Direct) | +0.45% | +1.30% | +2.61% | +5.29% | +6.05% | +5.80% | -- |
| Overnight average | +0.45% | +1.28% | +2.59% | +5.22% | +5.99% | +5.75% | -- |
Category average: the average of the 40 Overnight funds, same plan type.
360 One Overnight vs Axis Overnight: Year-wise Returns
| Year | 360 One360 One Overnight | AxisAxis Overnight | Nifty 1D Rate Index TRI |
|---|---|---|---|
| 2026to date | +4.35% | +4.35% | +4.31% |
| 2025 | -- | +5.86% | +5.81% |
| 2024 | -- | +6.75% | +6.79% |
| 2023 | -- | +6.73% | +6.74% |
| 2022 | -- | +4.74% | +4.76% |
| 2021 | -- | +3.21% | +3.28% |
360 One Overnight vs Axis Overnight: Rolling Returns
Every holding period of both funds, against Nifty 1D Rate Index TRI, the benchmark of both
Rolling returns
Every 1-year holding period, 91 of them, one for each trading day from 13-07-2026 to 30-10-2026: the yearly return (CAGR) of each, plotted on the day it ended. One lucky or unlucky start day cannot flatter or hide a fund.
360 One Overnight Fund (Direct)
Axis Overnight Fund (Direct)
Nifty 1D Rate Index TRI
to
Jul 2026Aug 2025
to
Aug 2026Aug 2025
to
Aug 2026Sept 2025
to
Sept 2026Oct 2025
to
Oct 2026Oct 2025
to
Oct 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 360 One Overnight | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 5.3% | 5.3% | 5.3% | 5.4% | 100% |
| Axis Overnight | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 5.3% | 5.3% | 5.3% | 5.4% | 99% |
| Nifty 1D Rate Index TRI | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 5.3% | 5.3% | 5.2% | 5.4% | -- |
The table shows the % of periods in each return band; a darker cell holds more of them. Lumpsum: the yearly rate (CAGR) from a period's first NAV to its last. SIP: the XIRR of the monthly instalments. The benchmark is Nifty 1D Rate Index TRI, over the same periods. "Beat benchmark" counts the periods in which the fund did better. Every fund is measured over the days all of them have, from 13-07-2025. Past returns do not promise future returns.
360 One Overnight vs Axis Overnight: SIP and Lumpsum Returns
What the same monthly or one-time investment would be worth in each fund today, from their own NAV history
Growth of an investment
₹10,000 on the first trading day of every month, from 13-07-2025 to 30-10-2026: 16 instalments, ₹1,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| 360 One Overnight360 One Overnight Fund (Direct) | ₹1,60,000 | ₹1,65,943 | ₹5,943 | 5.3% |
| Axis OvernightAxis Overnight Fund (Direct) | ₹1,60,000 | ₹1,65,959 | ₹5,959 | 5.3% |
360 One Overnight360 One Overnight Fund (Direct)
Axis OvernightAxis Overnight Fund (Direct)
Amount invested
From each plan's published NAV (Growth option), 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.
360 One Overnight vs Axis Overnight: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | 360 One Overnight Fund (Direct) | Axis Overnight Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.31% | +5.29% |
| Standard deviation | 0.11% | 0.04% |
| Sharpe ratio | 0.54 | 1.09 |
| Sortino ratio | 1.36 | 4.21 |
| Maximum drawdown | 0.0% | 0.0% |
| Beta | 1.02 | 1.02 |
| Alpha | +0.06% | +0.04% |
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. Beta and alpha compare each fund with its own benchmark's TRI.
| Measure | 360 One Overnight Fund (Direct) | Axis Overnight Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.37% | +5.17% |
| Standard deviation | 0.12% | 0.07% |
| Sharpe ratio | 0.46 | -0.12 |
| Sortino ratio | 1.17 | -0.16 |
| Maximum drawdown | 0.0% | 0.0% |
| Beta | 1.02 | 1.01 |
| Alpha | +0.05% | −0.01% |
From daily NAVs, 14-07-2025 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. Beta and alpha compare each fund with its own benchmark's TRI.
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.
360 One Overnight Fund (Direct)
Axis Overnight Fund (Direct)
Nifty 1D Rate Index TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| 360 One Overnight Fund (Direct) | 0.0% | -- | -- | -- | -- | 0.0% |
| Axis Overnight Fund (Direct) | 0.0% | -- | -- | -- | -- | 0.0% |
| Nifty 1D Rate Index TRI | 0.0% | -- | -- | -- | -- | 0.0% |
From daily values since 13-07-2025, the first day every fund has.
Rolling standard deviation
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 1-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
360 One Overnight Fund (Direct)
Axis Overnight Fund (Direct)
Nifty 1D Rate Index TRI
Against Nifty 1D Rate Index TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| 360 One Overnight Fund (Direct) | 101% | NaN% | 0.08% |
| Axis Overnight Fund (Direct) | 101% | NaN% | 0.07% |
From month-end values since 13-07-2025. Up capture: a fund's average month when the benchmark rose, as % of the benchmark's; above 100% it gained more. Down capture: the same for months the benchmark fell; below 100% it fell less. Tracking error: how far the monthly returns strayed from the benchmark's, a year; an index fund aims near 0.
360 One Overnight vs Axis Overnight: Portfolio Overlap
From each fund's latest monthly portfolio: 360 One Overnight Fund, September 2026; Axis Overnight Fund, September 2026
Holdings in common
- Overlap
- 1.4%
- Held by both
- 1
- Only in 360 One Overnight
- 3
- Only in Axis Overnight
- 5
| Security | % of 360 One Overnight | % of Axis Overnight |
|---|---|---|
| 91 Days Tbill (MD 01/10/2026) | 1.40% | 1.38% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 1.4% means 1.4% of each fund's money sits in positions the other also holds. Matched by ISIN. Cash and hedged positions are left out.
Largest holdings only in 360 One Overnight Fund
| Security | % of fund |
|---|---|
| HDFC Bank Limited (01/10/2026) | 6.71% |
| Indian Bank (01/10/2026) | 6.43% |
| 182 Days Tbill (MD 22/10/2026) | 0.84% |
Largest holdings only in Axis Overnight Fund
| Security | % of fund |
|---|---|
| 91 Days Tbill (MD 08/10/2026) | 1.84% |
| 91 Days Tbill (MD 22/10/2026) | 0.92% |
| 182 Days Tbill (MD 15/10/2026) | 0.78% |
| 364 Days Tbill (MD 02/10/2026) | 0.09% |
| 364 Days Tbill (MD 23/10/2026) | 0.05% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | 360 One Overnight | Axis Overnight |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 15.4% | 5.1% |
| Cash and others | 84.6% | 94.9% |
360 One Overnight vs Axis Overnight: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | 360 One Overnight Fund | Axis Overnight Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.13% | 0.09% |
| Base expense ratio (Direct) | 0.08% | 0.06% |
| Total expense ratio (Regular) | 0.21% | 0.13% |
| Base expense ratio (Regular) | 0.15% | 0.09% |
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, transaction costs, and levies with GST.
More comparisons
Each fund against the others of its category
Compare 360 One Overnight with
360 One Overnight Fund vs Axis Overnight Fund: Frequently Asked Questions
What is the difference between 360 One Overnight Fund and Axis Overnight Fund?
Both are Overnight funds, run by 360 ONE Mutual Fund and Axis Mutual Fund. Their portfolios overlap 1.4%. 360 One Overnight Fund charges 0.13% a year and Axis Overnight Fund 0.09%.
Which has given higher returns, 360 One Overnight Fund or Axis Overnight Fund?
Over 1 year: 360 One Overnight Fund +5.31%, Axis Overnight Fund +5.29%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, 360 One Overnight Fund or Axis Overnight Fund?
Axis Overnight Fund charges less: 0.09% a year against 0.13%. These are the Direct plans' total expense ratios reported to AMFI.
How much do 360 One Overnight Fund and Axis Overnight Fund overlap?
1.4%. They hold 1 of the same securities, the largest shared ones being 91 Days Tbill (MD 01/10/2026). From each fund's latest monthly portfolio.
Which is riskier, 360 One Overnight Fund or Axis Overnight Fund?
On SEBI's riskometer, 360 One Overnight Fund is rated Low and Axis Overnight Fund Low. Over 1 years, the standard deviation of daily returns was 0.11% and 0.04% a year.
Can I invest in both 360 One Overnight Fund and Axis Overnight Fund?
Yes. 1.4% of each fund's money sits in the same holdings, so the two hold mostly different investments.
Who manages 360 One Overnight Fund and Axis Overnight Fund?
360 One Overnight Fund: Milan Mody. Axis Overnight Fund: Sachin Jain, Hardik Satra.
Sources: NAV and expense ratio from AMFI. Holdings from each fund house's monthly portfolio statement. Fund facts from each scheme summary document.
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.