Axis CRISIL-IBX Financial Services 3-6 Months Debt Index Fund vs Invesco India Ultra Short Term Fund
Direct Plan, Growth option · Data as on 30-10-2026
Axis CRISIL-IBX Financial Services 3-6 Months Debt Index Fund is an Index fund and Invesco India Ultra Short Term Fund is an Ultra Short fund. In the year to 30-10-2026, Axis CRISIL-IBX Financial Services 3-6 Months Debt Index Fund (Direct) returned 6.5% and Invesco India Ultra Short Term Fund (Direct) returned 6.5%. Axis CRISIL-IBX Financial Services 3-6 Months Debt Index Fund charges 0.12% a year and Invesco India Ultra Short Term Fund 0.27% (Direct plans). Their portfolios overlap 13.8%: they hold 5 of the same securities.
Axis CRISIL-IBX Financial Services 3-6 Months Debt Index Fund
Index
- 1 year return
- 6.5%
- Expense ratio
- 0.12%
- NAV
- ₹10.72
Invesco India Ultra Short Term Fund
Ultra Short
- 1 year return
- 6.5%
- Expense ratio
- 0.27%
- NAV
- ₹3,133.58
Which is better, Axis CRISIL-IBX Financial Services 3-6 Months Debt Index or Invesco India Ultra 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.
- Invesco India Ultra Short Term returned more over 1 year: 6.5% against 6.5%.
- Axis CRISIL-IBX Financial Services 3-6 Months Debt Index costs less: 0.12% a year against 0.27% (Direct plans).
- Invesco India Ultra Short Term fell less in its worst fall since 29-09-2025: −0.1% against −0.1%.
- Invesco India Ultra Short Term is the larger fund: ₹1,394 Cr against ₹218 Cr.
- Their portfolios overlap 13.8%: 5 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 CRISIL-IBX Financial Services 3-6 Months Debt Index Fund | Invesco India Ultra Short Term Fund |
|---|---|---|
| Fund house | Axis Mutual Fund | Invesco Mutual Fund |
| Category | Index | Ultra Short |
| AUM | ₹218 Cr (30-09-2026) | ₹1,394 Cr (30-09-2026) |
| NAV | ₹10.72 (Direct) | ₹3,133.58 (Direct) |
| Expense ratio (Direct) | 0.12% | 0.27% |
| Expense ratio (Regular) | 0.27% | 0.79% |
| Riskometer | Low to Moderate | Low to Moderate |
| Benchmark | CRISIL-IBX Financial Services 3-6 Months Debt Index | NIFTY Ultra Short Duration Debt Index A-I |
| Launch date | 24-09-2025 | 30-12-2010 |
| Minimum investment | ₹5,000 | Not available |
| Lock in | None | None |
| Fund managers | Aditya Pagaria | Krishna Cheemalapati, Vikas Garg |
| Exit load | NIL | Nil |
Axis CRISIL-IBX Financial Services 3-6 Months Debt Index vs Invesco India Ultra 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 CRISIL-IBX Financial Services 3-6 Months Debt Index Fund (Direct) | +0.30% | +1.43% | +3.23% | +6.55% | -- | -- | -- |
| Invesco India Ultra Short Term Fund (Direct) | +0.33% | +1.51% | +3.32% | +6.55% | +7.26% | +6.67% | +6.71% |
| Ultra Short average | +0.30% | +1.34% | +3.06% | +6.00% | +6.82% | +6.27% | +6.43% |
Category average: the average of the 26 Ultra Short funds, same plan type.
Axis CRISIL-IBX Financial Services 3-6 Months Debt Index vs Invesco India Ultra Short Term: Year-wise Returns
| Year | Axis CRISIL-IBX Financial Services 3-6 Months Debt IndexAxis CRISIL-IBX Financial Services 3-6 Months Debt Index | Invesco India Ultra Short TermInvesco India Ultra Short Term |
|---|---|---|
| 2026to date | +5.42% | +5.48% |
| 2025 | -- | +7.30% |
| 2024 | -- | +7.79% |
| 2023 | -- | +7.31% |
| 2022 | -- | +4.78% |
| 2021 | -- | +3.70% |
Axis CRISIL-IBX Financial Services 3-6 Months Debt Index vs Invesco India Ultra Short Term: Rolling Returns
Every holding period of both funds
Rolling returns
Every 1-year holding period, 20 of them, one for each trading day from 29-09-2026 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.
Axis CRISIL-IBX Financial Services 3-6 Months Debt Index Fund (Direct)
Invesco India Ultra Short Term Fund (Direct)
to
Oct 2026Oct 2025
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Oct 2026Oct 2025
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Oct 2026Oct 2025
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Oct 2026Oct 2025
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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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Axis CRISIL-IBX Financial Services 3-6 Months Debt Index | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 6.7% | 6.8% | 6.5% | 6.8% |
| Invesco India Ultra Short Term | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 6.7% | 6.7% | 6.5% | 6.8% |
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 29-09-2025. Past returns do not promise future returns.
Axis CRISIL-IBX Financial Services 3-6 Months Debt Index vs Invesco India Ultra 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 29-09-2025 to 30-10-2026: 14 instalments, ₹1,40,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Axis CRISIL-IBX Financial Services 3-6 Months Debt IndexAxis CRISIL-IBX Financial Services 3-6 Months Debt Index Fund (Direct) | ₹1,40,000 | ₹1,45,553 | ₹5,553 | 6.5% |
| Invesco India Ultra Short TermInvesco India Ultra Short Term Fund (Direct) | ₹1,40,000 | ₹1,45,667 | ₹5,667 | 6.6% |
Axis CRISIL-IBX Financial Services 3-6 Months Debt IndexAxis CRISIL-IBX Financial Services 3-6 Months Debt Index Fund (Direct)
Invesco India Ultra Short TermInvesco India Ultra 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 CRISIL-IBX Financial Services 3-6 Months Debt Index vs Invesco India Ultra Short Term: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Axis CRISIL-IBX Financial Services 3-6 Months Debt Index Fund (Direct) | Invesco India Ultra Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.55% | +6.55% |
| Standard deviation | 0.43% | 0.44% |
| Sharpe ratio | 3.01 | 2.93 |
| Sortino ratio | 4.80 | 5.02 |
| Maximum drawdown | −0.1% (22-10-2026) | −0.1% (22-10-2026) |
| 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 CRISIL-IBX Financial Services 3-6 Months Debt Index Fund (Direct) | Invesco India Ultra Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.57% | +7.32% |
| Standard deviation | 0.42% | 0.86% |
| Sharpe ratio | 3.07 | 1.48 |
| Sortino ratio | 4.92 | 2.04 |
| Maximum drawdown | −0.1% (22-10-2026) | −2.7% (24-07-2013) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 29-09-2025 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.
Axis CRISIL-IBX Financial Services 3-6 Months Debt Index Fund (Direct)
Invesco India Ultra Short Term Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Axis CRISIL-IBX Financial Services 3-6 Months Debt Index Fund (Direct) | −0.1% | 14-10-2026 | 22-10-2026 | 29-10-2026 | 7 days | 0.0% |
| Invesco India Ultra Short Term Fund (Direct) | −0.1% | 19-10-2026 | 22-10-2026 | 27-10-2026 | 5 days | 0.0% |
From daily values since 29-09-2025, 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.
Axis CRISIL-IBX Financial Services 3-6 Months Debt Index Fund (Direct)
Invesco India Ultra Short Term Fund (Direct)
Axis CRISIL-IBX Financial Services 3-6 Months Debt Index vs Invesco India Ultra Short Term: Portfolio Overlap
From each fund's latest monthly portfolio: Axis CRISIL-IBX Financial Services 3-6 Months Debt Index Fund, September 2026; Invesco India Ultra Short Term Fund, September 2026
Holdings in common
- Overlap
- 13.8%
- Held by both
- 5
- Only in Axis CRISIL-IBX Financial Services 3-6 Months Debt Index
- 10
- Only in Invesco India Ultra Short Term
- 37
| Security | % of Axis CRISIL-IBX Financial Services 3-6 Months Debt Index | % of Invesco India Ultra Short Term |
|---|---|---|
| 7.8% National Bank For Agriculture and Rural Development (15/03/2027) | 11.46% | 7.54% |
| Union Bank of India (19/01/2027) | 2.24% | 1.76% |
| Punjab National Bank (28/01/2027) | 2.24% | 1.75% |
| Bank of Baroda (05/03/2027) | 4.45% | 1.74% |
| Bank of Baroda (12/02/2027) | 1.34% | 1.05% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 13.8% means 13.8% 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 CRISIL-IBX Financial Services 3-6 Months Debt Index Fund
| Security | % of fund |
|---|---|
| 7.73% LIC Housing Finance Limited (18/03/2027) | 11.46% |
| 7.14% Bajaj Housing Finance Limited (26/02/2027) | 11.43% |
| Small Industries Dev Bank of India (18/02/2027) | 11.15% |
| REC Limited (08/03/2027) | 11.12% |
| Aditya Birla Capital Limited (26/02/2027) | 11.12% |
Largest holdings only in Invesco India Ultra Short Term Fund
| Security | % of fund |
|---|---|
| Canara Bank 2027 | 6.27% |
| 7.96% Pipeline Infrastructure Private Limited 2027 | 4.31% |
| Punjab National Bank 2027 | 4.20% |
| Kotak Mahindra Bank Limited 2027 | 3.51% |
| ICICI Bank Limited 2027 | 3.51% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Axis CRISIL-IBX Financial Services 3-6 Months Debt Index | Invesco India Ultra Short Term |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 98.1% | 97.7% |
| Cash and others | 1.9% | 2.3% |
Axis CRISIL-IBX Financial Services 3-6 Months Debt Index vs Invesco India Ultra Short Term: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Axis CRISIL-IBX Financial Services 3-6 Months Debt Index Fund | Invesco India Ultra Short Term Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.12% | 0.27% |
| Base expense ratio (Direct) | 0.09% | 0.21% |
| Total expense ratio (Regular) | 0.27% | 0.79% |
| Base expense ratio (Regular) | 0.22% | 0.67% |
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
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- Invesco India Ultra Short Term vs ICICI Prudential Ultra Short Term
Axis CRISIL-IBX Financial Services 3-6 Months Debt Index Fund vs Invesco India Ultra Short Term Fund: Frequently Asked Questions
What is the difference between Axis CRISIL-IBX Financial Services 3-6 Months Debt Index Fund and Invesco India Ultra Short Term Fund?
Axis CRISIL-IBX Financial Services 3-6 Months Debt Index Fund is an Index fund, Invesco India Ultra Short Term Fund is an Ultra Short fund, run by Axis Mutual Fund and Invesco Mutual Fund. Their portfolios overlap 13.8%. Axis CRISIL-IBX Financial Services 3-6 Months Debt Index Fund charges 0.12% a year and Invesco India Ultra Short Term Fund 0.27%.
Which has given higher returns, Axis CRISIL-IBX Financial Services 3-6 Months Debt Index Fund or Invesco India Ultra Short Term Fund?
Over 1 year: Axis CRISIL-IBX Financial Services 3-6 Months Debt Index Fund +6.55%, Invesco India Ultra Short Term Fund +6.55%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Axis CRISIL-IBX Financial Services 3-6 Months Debt Index Fund or Invesco India Ultra Short Term Fund?
Axis CRISIL-IBX Financial Services 3-6 Months Debt Index Fund charges less: 0.12% a year against 0.27%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Axis CRISIL-IBX Financial Services 3-6 Months Debt Index Fund and Invesco India Ultra Short Term Fund overlap?
13.8%. They hold 5 of the same securities, the largest shared ones being 7.8% National Bank For Agriculture and Rural Development (15/03/2027), Union Bank of India (19/01/2027), Punjab National Bank (28/01/2027). From each fund's latest monthly portfolio.
Which is riskier, Axis CRISIL-IBX Financial Services 3-6 Months Debt Index Fund or Invesco India Ultra Short Term Fund?
On SEBI's riskometer, Axis CRISIL-IBX Financial Services 3-6 Months Debt Index Fund is rated Low to Moderate and Invesco India Ultra Short Term Fund Low to Moderate. Over 1 years, the standard deviation of daily returns was 0.43% and 0.44% a year.
Can I invest in both Axis CRISIL-IBX Financial Services 3-6 Months Debt Index Fund and Invesco India Ultra Short Term Fund?
Yes. 13.8% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Axis CRISIL-IBX Financial Services 3-6 Months Debt Index Fund and Invesco India Ultra Short Term Fund?
Axis CRISIL-IBX Financial Services 3-6 Months Debt Index Fund: Aditya Pagaria. Invesco India Ultra Short Term Fund: Krishna Cheemalapati, Vikas Garg.
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.