Axis Banking and PSU Debt Fund vs Axis Short Term Fund
Direct Plan, Growth option · Data as on 30-10-2026
Axis Banking and PSU Debt Fund is a Banking & PSU fund and Axis Short Term Fund is a Short Duration fund. In the 3 years to 30-10-2026, Axis Banking and PSU Debt Fund (Direct) returned 6.7% a year and Axis Short Term Fund (Direct) returned 7.6% a year. Axis Banking and PSU Debt Fund charges 0.36% a year and Axis Short Term Fund 0.40% (Direct plans). Their portfolios overlap 19.0%: they hold 41 of the same securities.
Axis Banking and PSU Debt Fund
Banking & PSU
- 3 year return
- 6.7%
- Expense ratio
- 0.36%
- NAV
- ₹2,887.85
Axis Short Term Fund
Short Duration
- 3 year return
- 7.6%
- Expense ratio
- 0.40%
- NAV
- ₹36.27
Which is better, Axis Banking and PSU Debt or Axis Short Term? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Axis Short Term returned more over 5 years: 6.7% a year against 6.1%.
- Axis Short Term returned more over 3 years: 7.6% a year against 6.7%.
- Axis Banking and PSU Debt costs less: 0.36% a year against 0.40% (Direct plans).
- Axis Banking and PSU Debt swung less over 3 years: a standard deviation of 0.9% a year against 1.0%.
- Axis Short Term fell less in its worst fall since 02-01-2013: −2.6% against −2.9%.
- Axis Banking and PSU Debt is the larger fund: ₹11,962 Cr against ₹7,425 Cr.
- Their portfolios overlap 19.0%: 41 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 | Axis Banking and PSU Debt Fund | Axis Short Term Fund |
|---|---|---|
| Fund house | Axis Mutual Fund | Axis Mutual Fund |
| Category | Banking & PSU | Short Duration |
| AUM | ₹11,962 Cr (30-09-2026) | ₹7,425 Cr (30-09-2026) |
| NAV | ₹2,887.85 (Direct) | ₹36.27 (Direct) |
| Expense ratio (Direct) | 0.36% | 0.40% |
| Expense ratio (Regular) | 0.65% | 0.92% |
| Riskometer | Moderate | Moderate |
| Benchmark | NIFTY Banking & PSU Debt Index A-II | NIFTY Short Duration Debt Index A-II |
| Launch date | 08-06-2012 | 22-01-2010 |
| Minimum investment | ₹5,000 | ₹100 |
| Lock in | None | None |
| Fund managers | Aditya Pagaria, Hardik Shah | Devang Shah, Aditya Pagaria |
| Exit load | Nil | Nil |
Axis Banking and PSU Debt vs Axis Short Term: 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 |
|---|---|---|---|---|---|---|---|
| Axis Banking and PSU Debt Fund (Direct) | −0.24% | −0.04% | +2.12% | +3.91% | +6.71% | +6.06% | +7.06% |
| Axis Short Term Fund (Direct) | −0.10% | +0.38% | +2.62% | +4.82% | +7.58% | +6.72% | +7.38% |
| Banking & PSU average | −0.21% | +0.14% | +2.36% | +4.04% | +6.88% | +6.22% | +6.95% |
| Short Duration average | −0.14% | +0.30% | +2.50% | +4.11% | +6.88% | +6.62% | +6.89% |
Category average: the average of the 19 Banking & PSU funds and the 25 Short Duration funds, same plan type.
Axis Banking and PSU Debt vs Axis Short Term: Year-wise Returns
| Year | Banking and PSU DebtAxis Banking and PSU Debt | Short TermAxis Short Term |
|---|---|---|
| 2026to date | +3.16% | +3.96% |
| 2025 | +7.84% | +8.62% |
| 2024 | +7.86% | +8.56% |
| 2023 | +6.84% | +7.46% |
| 2022 | +4.05% | +4.39% |
| 2021 | +3.70% | +4.19% |
Axis Banking and PSU Debt vs Axis Short Term: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 2,626 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.
Axis Banking and PSU Debt Fund (Direct)
Axis Short Term 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Axis Banking and PSU Debt | 0.0 | 4.5 | 95.5 | 0.0 | 0.0 | 0.0 | 0.0 | 7.6% | 7.9% | 4.7% | 9.7% |
| Axis Short Term | 0.0 | 0.0 | 94.1 | 5.9 | 0.0 | 0.0 | 0.0 | 8.0% | 8.2% | 5.2% | 10.8% |
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.
Axis Banking and PSU Debt vs Axis Short Term: 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 |
|---|---|---|---|---|
| Axis Banking and PSU DebtAxis Banking and PSU Debt Fund (Direct) | ₹16,60,000 | ₹27,61,224 | ₹11,01,224 | 7.0% |
| Axis Short TermAxis Short Term Fund (Direct) | ₹16,60,000 | ₹28,66,038 | ₹12,06,038 | 7.5% |
Axis Banking and PSU DebtAxis Banking and PSU Debt Fund (Direct)
Axis Short TermAxis Short Term 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.
Axis Banking and PSU Debt vs Axis Short Term: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Axis Banking and PSU Debt Fund (Direct) | Axis Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +3.91% | +4.82% |
| Standard deviation | 1.17% | 1.18% |
| Sharpe ratio | -1.14 | -0.36 |
| Sortino ratio | -1.53 | -0.51 |
| Maximum drawdown | −0.6% (23-10-2026) | −0.5% (21-05-2026) |
| 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 | Axis Banking and PSU Debt Fund (Direct) | Axis Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.71% | +7.58% |
| Standard deviation | 0.94% | 0.96% |
| Sharpe ratio | 0.73 | 1.63 |
| Sortino ratio | 1.07 | 2.53 |
| Maximum drawdown | −0.6% (23-10-2026) | −0.5% (21-05-2026) |
| 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 | Axis Banking and PSU Debt Fund (Direct) | Axis Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.06% | +6.72% |
| Standard deviation | 0.86% | 0.92% |
| Sharpe ratio | 0.31 | 0.99 |
| Sortino ratio | 0.44 | 1.44 |
| Maximum drawdown | −0.6% (23-10-2026) | −0.8% (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 | Axis Banking and PSU Debt Fund (Direct) | Axis Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.57% | +7.99% |
| Standard deviation | 1.28% | 1.43% |
| Sharpe ratio | 1.18 | 1.36 |
| Sortino ratio | 2.04 | 2.09 |
| Maximum drawdown | −2.9% (24-03-2020) | −2.6% (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.
Axis Banking and PSU Debt Fund (Direct)
Axis Short Term Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Axis Banking and PSU Debt Fund (Direct) | −2.9% | 04-03-2020 | 24-03-2020 | 27-03-2020 | 3 days | −0.5% |
| Axis Short Term Fund (Direct) | −2.6% | 06-03-2020 | 24-03-2020 | 31-03-2020 | 7 days | −0.2% |
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.
Axis Banking and PSU Debt Fund (Direct)
Axis Short Term 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.
Axis Banking and PSU Debt Fund (Direct)
Axis Short Term 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.
Axis Banking and PSU Debt Fund (Direct)
Axis Short Term Fund (Direct)
Axis Banking and PSU Debt vs Axis Short Term: Portfolio Overlap
From each fund's latest monthly portfolio: Axis Banking and PSU Debt Fund, September 2026; Axis Short Term Fund, September 2026
Holdings in common
- Overlap
- 19.0%
- Held by both
- 41
- Only in Axis Banking and PSU Debt
- 121
- Only in Axis Short Term
- 124
| Security | % of Axis Banking and PSU Debt | % of Axis Short Term |
|---|---|---|
| 7.7% Nuclear Power Corporation Of India Limited (21/03/2038) | 3.35% | 4.04% |
| Tata Capital Limited (21/02/2029) (FRN) | 1.67% | 1.34% |
| Export Import Bank of India (12/03/2027) | 3.45% | 1.31% |
| Siddhivinayak Securitisation Trust (28/09/2030) | 1.17% | 2.74% |
| 7.62% National Bank For Agriculture and Rural Development (31/01/2028) | 1.04% | 2.41% |
| Shivshakti Securitisation Trust (28/09/2029) | 0.97% | 1.52% |
| Bank of Baroda (27/01/2027) | 0.82% | 1.32% |
| 7.22% Small Industries Dev Bank of India (10/04/2029) | 0.82% | 2.65% |
| 7.51% Small Industries Dev Bank of India (12/06/2028) | 1.04% | 0.67% |
| Indian Bank (29/01/2027) | 1.23% | 0.66% |
| 6.47% Indian Railway Finance Corporation Limited (30/05/2028) | 0.82% | 0.66% |
| Radhakrishna Securitisation Trust (28/09/2028) | 0.62% | 0.95% |
| 7.64% Bajaj Housing Finance Limited (01/07/2030) | 0.49% | 1.32% |
| 7.44% National Bank For Agriculture and Rural Development (24/02/2028) | 6.83% | 0.47% |
| 7.87% Bajaj Housing Finance Limited (04/08/2036) | 0.40% | 1.63% |
| SBI - Corporate Debt Market Development Fund (CDMDF) - Class A2 | 0.35% | 0.49% |
| 7.5% Indian Railway Finance Corporation Limited (07/09/2029) | 1.04% | 0.34% |
| 7.57% Indian Railway Finance Corporation Limited (18/04/2029) | 0.63% | 0.34% |
| 7.90% Bajaj Finance Limited (13/04/2028) | 0.42% | 0.34% |
| 6.74% Small Industries Dev Bank of India (10/01/2029) | 1.02% | 0.33% |
| 8.25% Bajaj Housing Finance Limited (27/05/2031) | 0.25% | 0.67% |
| 6.61% Power Finance Corporation Limited (15/07/2028) | 0.21% | 2.65% |
| 7.53% National Bank For Agriculture and Rural Development (24/03/2028) | 0.21% | 0.40% |
| 6.95% Bajaj Housing Finance Limited (28/01/2028) | 0.21% | 0.33% |
| 7.68% Small Industries Dev Bank of India (10/08/2027) | 0.21% | 1.39% |
| 7.3763% Bajaj Finance Limited (26/06/2028) | 0.21% | 0.20% |
| 7.38% Power Finance Corporation Limited (15/01/2032) | 0.20% | 0.33% |
| 7.70% National Bank For Agriculture and Rural Development (30/09/2027) | 0.18% | 0.34% |
| Kotak Mahindra Bank Limited (29/01/2027) | 1.23% | 0.13% |
| 7.42% Bihar State Development Loans (31/12/2031) | 0.91% | 0.13% |
| 7.35% Export Import Bank of India (27/07/2028) | 0.75% | 0.13% |
| 8.1% Bajaj Housing Finance Limited (08/07/2027) | 0.08% | 0.67% |
| 6.66% Small Industries Dev Bank of India (25/10/2028) | 0.08% | 0.99% |
| 7.7951% Bajaj Finance Limited (10/12/2027) | 0.29% | 0.07% |
| 7.4% Bharti Telecom Limited (01/02/2029) | 0.20% | 0.07% |
| 6.28% Government of India (14/07/2032) | 0.04% | 0.05% |
| 7.3% Government of India (19/06/2053) | 0.56% | 0.03% |
| 7.44% Power Finance Corporation Limited (11/06/2027) | 0.08% | 0.03% |
| 6.92% Government of India (18/11/2039) | 0.03% | 0.02% |
| 7.56% REC Limited (31/08/2027) | 0.46% | 0.01% |
| 7.26% Government of India (06/02/2033) | 0.04% | 0.01% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 19.0% means 19.0% 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 Axis Banking and PSU Debt Fund
| Security | % of fund |
|---|---|
| 7.42% Power Finance Corporation Limited (15/04/2028) | 3.29% |
| Union Bank of India (10/02/2027) | 3.26% |
| 6.54% Tamilnadu State Development Loans (25/02/2029) | 2.69% |
| 7.34% Small Industries Dev Bank of India (26/02/2029) | 2.15% |
| 6.80% National Housing Bank (02/04/2032) | 1.80% |
Largest holdings only in Axis Short Term Fund
| Security | % of fund |
|---|---|
| 6.94% Government of India (11/05/2036) | 4.45% |
| HDFC Bank Limited (15/01/2027) | 2.64% |
| HDFC Bank Limited (05/03/2027) | 1.96% |
| 7.87% IndiGrid Infrastructure Trust (24/02/2027) | 1.89% |
| 7.55% L&T Metro Rail (Hyderabad) Limited (28/04/2035) | 1.62% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Axis Banking and PSU Debt | Axis Short Term |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 94.6% | 93.4% |
| Cash and others | 5.4% | 6.6% |
Axis Banking and PSU Debt vs Axis Short Term: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Axis Banking and PSU Debt Fund | Axis Short Term Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.36% | 0.40% |
| Base expense ratio (Direct) | 0.30% | 0.32% |
| Total expense ratio (Regular) | 0.65% | 0.92% |
| Base expense ratio (Regular) | 0.54% | 0.77% |
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 Axis Banking and PSU Debt with
Axis Banking and PSU Debt Fund vs Axis Short Term Fund: Frequently Asked Questions
What is the difference between Axis Banking and PSU Debt Fund and Axis Short Term Fund?
Axis Banking and PSU Debt Fund is a Banking & PSU fund, Axis Short Term Fund is a Short Duration fund, run by Axis Mutual Fund. Their portfolios overlap 19.0%. Axis Banking and PSU Debt Fund charges 0.36% a year and Axis Short Term Fund 0.40%.
Which has given higher returns, Axis Banking and PSU Debt Fund or Axis Short Term Fund?
Over 1 year: Axis Banking and PSU Debt Fund +3.91%, Axis Short Term Fund +4.82%. Over 3 years: Axis Banking and PSU Debt Fund +6.71% a year, Axis Short Term Fund +7.58% a year. Over 5 years: Axis Banking and PSU Debt Fund +6.06% a year, Axis Short Term Fund +6.72% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Axis Banking and PSU Debt Fund or Axis Short Term Fund?
Axis Banking and PSU Debt Fund charges less: 0.36% a year against 0.40%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Axis Banking and PSU Debt Fund and Axis Short Term Fund overlap?
19.0%. They hold 41 of the same securities, the largest shared ones being 7.7% Nuclear Power Corporation Of India Limited (21/03/2038), Tata Capital Limited (21/02/2029) (FRN), Export Import Bank of India (12/03/2027). From each fund's latest monthly portfolio.
Which is riskier, Axis Banking and PSU Debt Fund or Axis Short Term Fund?
On SEBI's riskometer, Axis Banking and PSU Debt Fund is rated Moderate and Axis Short Term Fund Moderate. Over 3 years, the standard deviation of daily returns was 0.94% and 0.96% a year.
Which is better for SIP, Axis Banking and PSU Debt Fund or Axis Short Term Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,15,562 in Axis Banking and PSU Debt Fund (XIRR 6.2% a year) and ₹7,29,981 in Axis Short Term Fund (XIRR 7.0% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Axis Banking and PSU Debt Fund and Axis Short Term Fund?
Yes. 19.0% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Axis Banking and PSU Debt Fund and Axis Short Term Fund?
Axis Banking and PSU Debt Fund: Aditya Pagaria, Hardik Shah. Axis Short Term Fund: Devang Shah, Aditya Pagaria.
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.