Aditya Birla Sun Life Ultra Short Term Fund vs Nippon India Money Market Fund
Direct Plan, Growth option · Data as on 30-10-2026
Aditya Birla Sun Life Ultra Short Term Fund is an Ultra Short fund and Nippon India Money Market Fund is a Money Market fund. In the 3 years to 30-10-2026, Aditya Birla Sun Life Ultra Short Term Fund (Direct) returned 7.4% a year and Nippon India Money Market Fund (Direct) returned 7.3% a year. Aditya Birla Sun Life Ultra Short Term Fund charges 0.32% a year and Nippon India Money Market Fund 0.22% (Direct plans). Their portfolios overlap 10.4%: they hold 16 of the same securities.
Aditya Birla Sun Life Ultra Short Term Fund
Ultra Short
- 3 year return
- 7.4%
- Expense ratio
- 0.32%
- NAV
- ₹607.54
Nippon India Money Market Fund
Money Market
- 3 year return
- 7.3%
- Expense ratio
- 0.22%
- NAV
- ₹4,573.16
Which is better, Aditya Birla Sun Life Ultra Short Term or Nippon India Money Market? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Nippon India Money Market returned more over 5 years: 6.8% a year against 6.8%.
- Aditya Birla Sun Life Ultra Short Term returned more over 3 years: 7.4% a year against 7.3%.
- Nippon India Money Market costs less: 0.22% a year against 0.32% (Direct plans).
- Aditya Birla Sun Life Ultra Short Term swung less over 3 years: a standard deviation of 0.4% a year against 0.4%.
- Nippon India Money Market fell less in its worst fall since 02-01-2013: −0.9% against −1.2%.
- Nippon India Money Market is the larger fund: ₹19,855 Cr against ₹16,279 Cr.
- Their portfolios overlap 10.4%: 16 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 | Aditya Birla Sun Life Ultra Short Term Fund | Nippon India Money Market Fund |
|---|---|---|
| Fund house | Aditya Birla Sun Life Mutual Fund | Nippon India Mutual Fund |
| Category | Ultra Short | Money Market |
| AUM | ₹16,279 Cr (30-09-2026) | ₹19,855 Cr (30-09-2026) |
| NAV | ₹607.54 (Direct) | ₹4,573.16 (Direct) |
| Expense ratio (Direct) | 0.32% | 0.22% |
| Expense ratio (Regular) | 0.58% | 0.39% |
| Riskometer | Moderate | Moderate |
| Benchmark | NIFTY Ultra Short Duration Debt Index A-I | NIFTY Money Market Index A-I |
| Launch date | 15-04-2003 | 16-06-2005 |
| Minimum investment | ₹1,000 | Daily Income Distribution cum capital withdrawal Option - Rs.10,000 & in multiples of Re. 1 thereafter, All other Options - Rs.500 & in multiples of Re.1 thereafter |
| Lock in | None | None |
| Fund managers | Kaustubh Gupta, Sunaina Da Cunha, Monika Gandhi | Vikash Agarwal |
| Exit load | Nil | Nil |
Aditya Birla Sun Life Ultra Short Term vs Nippon India Money Market: 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 |
|---|---|---|---|---|---|---|---|
| Aditya Birla Sun Life Ultra Short Term Fund (Direct) | +0.35% | +1.46% | +3.25% | +6.36% | +7.41% | +6.80% | +6.95% |
| Nippon India Money Market Fund (Direct) | +0.31% | +1.47% | +3.29% | +6.31% | +7.32% | +6.81% | +6.73% |
| Ultra Short average | +0.30% | +1.34% | +3.06% | +6.00% | +6.82% | +6.27% | +6.43% |
| Money Market average | +0.33% | +1.49% | +3.29% | +6.35% | +7.24% | +6.68% | +6.60% |
Category average: the average of the 26 Ultra Short funds and the 27 Money Market funds, same plan type.
Aditya Birla Sun Life Ultra Short Term vs Nippon India Money Market: Year-wise Returns
| Year | Aditya Birla Sun Life Ultra Short TermAditya Birla Sun Life Ultra Short Term | Nippon India Money MarketNippon India Money Market |
|---|---|---|
| 2026to date | +5.27% | +5.23% |
| 2025 | +7.64% | +7.60% |
| 2024 | +8.08% | +7.89% |
| 2023 | +7.39% | +7.48% |
| 2022 | +4.94% | +5.11% |
| 2021 | +4.06% | +3.89% |
Aditya Birla Sun Life Ultra Short Term vs Nippon India Money Market: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 2,620 of them, one for each trading day from 04-01-2016 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.
Aditya Birla Sun Life Ultra Short Term Fund (Direct)
Nippon India Money Market Fund (Direct)
to
Nov 2016Sept 2015
to
Sept 2018Jul 2017
to
Jul 2020May 2019
to
May 2022Mar 2021
to
Mar 2024Dec 2022
to
Dec 2025
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Aditya Birla Sun Life Ultra Short Term | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7.5% | 7.7% | 5.2% | 9.9% |
| Nippon India Money Market | 0.0 | 1.8 | 98.2 | 0.0 | 0.0 | 0.0 | 0.0 | 7.1% | 7.5% | 4.9% | 9.0% |
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. Every fund is measured over the days all of them have, from 02-01-2013. Past returns do not promise future returns.
Aditya Birla Sun Life Ultra Short Term vs Nippon India Money Market: 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 02-01-2013 to 30-10-2026: 166 instalments, ₹16,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Aditya Birla Sun Life Ultra Short TermAditya Birla Sun Life Ultra Short Term Fund (Direct) | ₹16,60,000 | ₹27,83,353 | ₹11,23,353 | 7.1% |
| Nippon India Money MarketNippon India Money Market Fund (Direct) | ₹16,60,000 | ₹27,29,386 | ₹10,69,386 | 6.9% |
Aditya Birla Sun Life Ultra Short TermAditya Birla Sun Life Ultra Short Term Fund (Direct)
Nippon India Money MarketNippon India Money Market 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.
Aditya Birla Sun Life Ultra Short Term vs Nippon India Money Market: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Aditya Birla Sun Life Ultra Short Term Fund (Direct) | Nippon India Money Market Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.36% | +6.31% |
| Standard deviation | 0.50% | 0.53% |
| Sharpe ratio | 2.24 | 2.00 |
| Sortino ratio | 3.54 | 3.16 |
| Maximum drawdown | −0.1% (21-05-2026) | −0.1% (22-05-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 | Aditya Birla Sun Life Ultra Short Term Fund (Direct) | Nippon India Money Market Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.41% | +7.32% |
| Standard deviation | 0.42% | 0.43% |
| Sharpe ratio | 3.30 | 3.00 |
| Sortino ratio | 6.20 | 5.56 |
| Maximum drawdown | −0.1% (21-05-2026) | −0.1% (22-05-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
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. Beta and alpha compare each fund with its own benchmark's TRI.
| Measure | Aditya Birla Sun Life Ultra Short Term Fund (Direct) | Nippon India Money Market Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.80% | +6.81% |
| Standard deviation | 0.41% | 0.40% |
| Sharpe ratio | 2.42 | 2.54 |
| Sortino ratio | 4.02 | 4.64 |
| Maximum drawdown | −0.3% (06-05-2022) | −0.2% (06-05-2022) |
| Beta | -- | -- |
| Alpha | -- | -- |
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. Beta and alpha compare each fund with its own benchmark's TRI.
| Measure | Aditya Birla Sun Life Ultra Short Term Fund (Direct) | Nippon India Money Market Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.65% | +7.28% |
| Standard deviation | 0.63% | 0.42% |
| Sharpe ratio | 2.54 | 2.93 |
| Sortino ratio | 4.49 | 5.96 |
| Maximum drawdown | −1.2% (24-03-2020) | −0.9% (24-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 02-01-2013 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.
Aditya Birla Sun Life Ultra Short Term Fund (Direct)
Nippon India Money Market Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Aditya Birla Sun Life Ultra Short Term Fund (Direct) | −1.2% | 05-03-2020 | 24-03-2020 | 27-03-2020 | 3 days | 0.0% |
| Nippon India Money Market Fund (Direct) | −0.9% | 11-03-2020 | 24-03-2020 | 27-03-2020 | 3 days | 0.0% |
From daily values since 02-01-2013, 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.
Aditya Birla Sun Life Ultra Short Term Fund (Direct)
Nippon India Money Market Fund (Direct)
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 3-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Aditya Birla Sun Life Ultra Short Term Fund (Direct)
Nippon India Money Market Fund (Direct)
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 5-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Aditya Birla Sun Life Ultra Short Term Fund (Direct)
Nippon India Money Market Fund (Direct)
Aditya Birla Sun Life Ultra Short Term vs Nippon India Money Market: Portfolio Overlap
From each fund's latest monthly portfolio: Aditya Birla Sun Life Ultra Short Term Fund, September 2026; Nippon India Money Market Fund, September 2026
Holdings in common
- Overlap
- 10.4%
- Held by both
- 16
- Only in Aditya Birla Sun Life Ultra Short Term
- 121
- Only in Nippon India Money Market
- 127
| Security | % of Aditya Birla Sun Life Ultra Short Term | % of Nippon India Money Market |
|---|---|---|
| National Bank for Agriculture and Rural Development (18/03/2027) | 4.55% | 4.27% |
| Canara Bank (02/02/2027) | 0.75% | 0.62% |
| Indian Bank (29/01/2027) | 0.60% | 0.74% |
| Small Industries Development Bank of India (18/02/2027) | 0.60% | 0.61% |
| National Bank for Agriculture and Rural Development (17/02/2027) | 5.99% | 0.49% |
| AU Small Finance Bank Ltd. (27/01/2027) | 1.80% | 0.49% |
| Bank of Baroda (03/02/2027) | 0.90% | 0.49% |
| Bank of Baroda (11/01/2027) | 0.60% | 0.49% |
| Small Industries Development Bank of India (11/06/2027) | 0.88% | 0.48% |
| AU Small Finance Bank Ltd. (26/08/2027) | 1.15% | 0.47% |
| Bank of Baroda (06/01/2027) | 0.39% | 0.74% |
| Small Industries Development Bank of India (14/01/2027) | 0.75% | 0.37% |
| Corporate Debt Mkt Devp. Fund-A2 | 0.42% | 0.32% |
| HDFC Bank Ltd. (15/02/2027) | 0.15% | 1.23% |
| HDFC Bank Ltd. (12/03/2027) | 0.15% | 0.12% |
| State Government Securities (01/03/2027) | 0.37% | 0.05% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 10.4% means 10.4% 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 Aditya Birla Sun Life Ultra Short Term Fund
| Security | % of fund |
|---|---|
| IndusInd Bank Ltd. (14/12/2026) | 4.39% |
| 8.90% Shriram Finance Ltd. (02/09/2027) | 3.25% |
| 9.45% Vedanta Ltd. (05/06/2028) | 2.76% |
| 7.30% Bharti Telecom Ltd. (01/12/2027) | 2.43% |
| HDFC Bank Ltd. (09/03/2027) | 2.15% |
Largest holdings only in Nippon India Money Market Fund
| Security | % of fund |
|---|---|
| Punjab National Bank | 3.79% |
| 182 Days Tbill | 3.46% |
| Small Industries Dev Bank of India | 3.43% |
| IndusInd Bank Limited | 2.71% |
| UCO Bank | 2.45% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Aditya Birla Sun Life Ultra Short Term | Nippon India Money Market |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 101.9% | 104.4% |
| Cash and others | -1.9% | -4.4% |
Aditya Birla Sun Life Ultra Short Term vs Nippon India Money Market: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Aditya Birla Sun Life Ultra Short Term Fund | Nippon India Money Market Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.32% | 0.22% |
| Base expense ratio (Direct) | 0.27% | 0.19% |
| Total expense ratio (Regular) | 0.58% | 0.39% |
| Base expense ratio (Regular) | 0.50% | 0.33% |
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 Aditya Birla Sun Life Ultra Short Term with
Aditya Birla Sun Life Ultra Short Term Fund vs Nippon India Money Market Fund: Frequently Asked Questions
What is the difference between Aditya Birla Sun Life Ultra Short Term Fund and Nippon India Money Market Fund?
Aditya Birla Sun Life Ultra Short Term Fund is an Ultra Short fund, Nippon India Money Market Fund is a Money Market fund, run by Aditya Birla Sun Life Mutual Fund and Nippon India Mutual Fund. Their portfolios overlap 10.4%. Aditya Birla Sun Life Ultra Short Term Fund charges 0.32% a year and Nippon India Money Market Fund 0.22%.
Which has given higher returns, Aditya Birla Sun Life Ultra Short Term Fund or Nippon India Money Market Fund?
Over 1 year: Aditya Birla Sun Life Ultra Short Term Fund +6.36%, Nippon India Money Market Fund +6.31%. Over 3 years: Aditya Birla Sun Life Ultra Short Term Fund +7.41% a year, Nippon India Money Market Fund +7.32% a year. Over 5 years: Aditya Birla Sun Life Ultra Short Term Fund +6.80% a year, Nippon India Money Market Fund +6.81% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Aditya Birla Sun Life Ultra Short Term Fund or Nippon India Money Market Fund?
Nippon India Money Market Fund charges less: 0.22% a year against 0.32%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Aditya Birla Sun Life Ultra Short Term Fund and Nippon India Money Market Fund overlap?
10.4%. They hold 16 of the same securities, the largest shared ones being National Bank for Agriculture and Rural Development (18/03/2027), Canara Bank (02/02/2027), Indian Bank (29/01/2027). From each fund's latest monthly portfolio.
Which is riskier, Aditya Birla Sun Life Ultra Short Term Fund or Nippon India Money Market Fund?
On SEBI's riskometer, Aditya Birla Sun Life Ultra Short Term Fund is rated Moderate and Nippon India Money Market Fund Moderate. Over 3 years, the standard deviation of daily returns was 0.42% and 0.43% a year.
Which is better for SIP, Aditya Birla Sun Life Ultra Short Term Fund or Nippon India Money Market Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,32,464 in Aditya Birla Sun Life Ultra Short Term Fund (XIRR 7.1% a year) and ₹7,31,609 in Nippon India Money Market Fund (XIRR 7.1% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Aditya Birla Sun Life Ultra Short Term Fund and Nippon India Money Market Fund?
Yes. 10.4% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Aditya Birla Sun Life Ultra Short Term Fund and Nippon India Money Market Fund?
Aditya Birla Sun Life Ultra Short Term Fund: Kaustubh Gupta, Sunaina Da Cunha, Monika Gandhi. Nippon India Money Market Fund: Vikash Agarwal.
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.