Axis Overnight Fund vs UTI - Overnight Fund
Direct Plan, Growth option · Data as on 30-10-2026
Axis Overnight Fund and UTI - Overnight Fund are both Overnight funds. In the 3 years to 30-10-2026, Axis Overnight Fund (Direct) returned 6.0% a year and UTI - Overnight Fund (Direct) returned 6.0% a year. Axis Overnight Fund charges 0.09% a year and UTI - Overnight Fund 0.09% (Direct plans). Their portfolios overlap 2.6%: they hold 2 of the same securities.
UTI - Overnight Fund
Overnight
- 3 year return
- 6.0%
- Expense ratio
- 0.09%
- NAV
- ₹3,798.29
Which is better, Axis Overnight or UTI - Overnight? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Axis Overnight returned more over 5 years: 5.8% a year against 5.8%.
- Axis Overnight returned more over 3 years: 6.0% a year against 6.0%.
- UTI - Overnight swung less over 3 years: a standard deviation of 0.0% a year against 0.0%.
- Axis Overnight is the larger fund: ₹10,855 Cr against ₹8,999 Cr.
- Their portfolios overlap 2.6%: 2 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 Overnight Fund | UTI - Overnight Fund |
|---|---|---|
| Fund house | Axis Mutual Fund | UTI Mutual Fund |
| Category | Overnight | Overnight |
| AUM | ₹10,855 Cr (30-09-2026) | ₹8,999 Cr (30-09-2026) |
| NAV | ₹1,469.05 (Direct) | ₹3,798.29 (Direct) |
| Expense ratio (Direct) | 0.09% | 0.09% |
| Expense ratio (Regular) | 0.13% | 0.13% |
| Riskometer | Low | Low to Moderate |
| Benchmark | Nifty 1D Rate Index | CRISIL Liquid Overnight Index |
| Launch date | 15-03-2019 | 24-11-2003 |
| Minimum investment | ₹100 | Regular Plan-Growth- Rs.500, Regular Plan-Periodic Reinvestment of IDCW- Rs.20000, Regular Plan-Periodic Payout of IDCW- Rs.20000, Regular Plan-Daily Reinvestment of IDCW- Rs.20000, Direct Plan-Daily Reinvestment of IDCW- Rs.20000, Direct Plan-Growth- Rs. |
| Lock in | None | None |
| Fund managers | Sachin Jain, Hardik Satra | Jaydeep Bhowal FM 1, Not Applicable FM 2, Not Applicable FM 3, Not Applicable FM 4 |
| Exit load | Nil | Nil |
Axis Overnight vs UTI - 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 |
|---|---|---|---|---|---|---|---|
| Axis Overnight Fund (Direct) | +0.45% | +1.30% | +2.61% | +5.29% | +6.05% | +5.80% | -- |
| UTI - Overnight Fund (Direct) | +0.45% | +1.29% | +2.60% | +5.26% | +6.02% | +5.77% | +5.33% |
| 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.
Axis Overnight vs UTI - Overnight: Year-wise Returns
| Year | AxisAxis Overnight | UTI -UTI - Overnight |
|---|---|---|
| 2026to date | +4.35% | +4.32% |
| 2025 | +5.86% | +5.82% |
| 2024 | +6.75% | +6.72% |
| 2023 | +6.73% | +6.69% |
| 2022 | +4.74% | +4.70% |
| 2021 | +3.21% | +3.19% |
Axis Overnight vs UTI - Overnight: Rolling Returns
Every holding period of both funds, against Nifty 1D Rate Index TRI, the benchmark of Axis Overnight Fund
Rolling returns
Every 3-year holding period, 1,684 of them, one for each trading day from 17-03-2022 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 Overnight Fund (Direct)
UTI - Overnight Fund (Direct)
Nifty 1D Rate Index TRI
to
Jul 2022May 2020
to
May 2023Feb 2021
to
Feb 2024Dec 2021
to
Dec 2024Sept 2022
to
Sept 2025Jun 2023
to
Jun 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Axis Overnight | 0.0 | 40.9 | 59.1 | 0.0 | 0.0 | 0.0 | 0.0 | 5.3% | 5.5% | 3.7% | 6.5% | 28% |
| UTI - Overnight | 0.0 | 41.4 | 58.6 | 0.0 | 0.0 | 0.0 | 0.0 | 5.2% | 5.5% | 3.7% | 6.5% | 2% |
| Nifty 1D Rate Index TRI | 0.0 | 40.2 | 59.8 | 0.0 | 0.0 | 0.0 | 0.0 | 5.3% | 5.5% | 3.7% | 6.5% | -- |
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 17-03-2019. Past returns do not promise future returns.
Axis Overnight vs UTI - 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 17-03-2019 to 30-10-2026: 92 instalments, ₹9,20,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Axis OvernightAxis Overnight Fund (Direct) | ₹9,20,000 | ₹11,41,713 | ₹2,21,713 | 5.5% |
| UTI - OvernightUTI - Overnight Fund (Direct) | ₹9,20,000 | ₹11,40,417 | ₹2,20,417 | 5.5% |
Axis OvernightAxis Overnight Fund (Direct)
UTI - OvernightUTI - 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.
Axis Overnight vs UTI - Overnight: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Axis Overnight Fund (Direct) | UTI - Overnight Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.29% | +5.26% |
| Standard deviation | 0.04% | 0.04% |
| Sharpe ratio | 1.09 | 0.34 |
| Sortino ratio | 4.21 | 1.21 |
| Maximum drawdown | 0.0% | 0.0% |
| Beta | 1.02 | -- |
| Alpha | +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 | Axis Overnight Fund (Direct) | UTI - Overnight Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.05% | +6.02% |
| Standard deviation | 0.04% | 0.04% |
| Sharpe ratio | 0.67 | -0.10 |
| Sortino ratio | 1.07 | -0.15 |
| Maximum drawdown | 0.0% | 0.0% |
| Beta | 1.01 | -- |
| Alpha | +0.03% | -- |
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 Overnight Fund (Direct) | UTI - Overnight Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.80% | +5.77% |
| Standard deviation | 0.06% | 0.06% |
| Sharpe ratio | 0.02 | -0.59 |
| Sortino ratio | 0.03 | -0.75 |
| Maximum drawdown | 0.0% | 0.0% |
| Beta | 1.01 | -- |
| Alpha | +0.00% | -- |
From daily NAVs, 30-10-2021 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 Overnight Fund (Direct) | UTI - Overnight Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.17% | +6.18% |
| Standard deviation | 0.07% | 0.58% |
| Sharpe ratio | -0.12 | 0.24 |
| Sortino ratio | -0.16 | 0.39 |
| Maximum drawdown | 0.0% | −0.8% (09-02-2017) |
| Beta | 1.01 | -- |
| Alpha | −0.01% | -- |
From daily NAVs, 18-03-2019 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 Overnight Fund (Direct)
UTI - 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 |
|---|---|---|---|---|---|---|
| Axis Overnight Fund (Direct) | 0.0% | -- | -- | -- | -- | 0.0% |
| UTI - Overnight Fund (Direct) | 0.0% | -- | -- | -- | -- | 0.0% |
| Nifty 1D Rate Index TRI | 0.0% | -- | -- | -- | -- | 0.0% |
From daily values since 17-03-2019, 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 Overnight Fund (Direct)
UTI - Overnight Fund (Direct)
Nifty 1D Rate Index TRI
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 Overnight Fund (Direct)
UTI - Overnight Fund (Direct)
Nifty 1D Rate Index TRI
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 Overnight Fund (Direct)
UTI - Overnight Fund (Direct)
Nifty 1D Rate Index TRI
Against Nifty 1D Rate Index TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Axis Overnight Fund (Direct) | 100% | NaN% | 0.07% |
| UTI - Overnight Fund (Direct) | 99% | NaN% | 0.07% |
From month-end values since 17-03-2019. 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.
Axis Overnight vs UTI - Overnight: Portfolio Overlap
From each fund's latest monthly portfolio: Axis Overnight Fund, September 2026; UTI - Overnight Fund, September 2026
Holdings in common
- Overlap
- 2.6%
- Held by both
- 2
- Only in Axis Overnight
- 4
- Only in UTI - Overnight
- 4
| Security | % of Axis Overnight | % of UTI - Overnight |
|---|---|---|
| 91 Days Tbill (MD 01/10/2026) | 1.38% | 1.33% |
| 91 Days Tbill (MD 08/10/2026) | 1.84% | 1.28% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 2.6% means 2.6% 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 Overnight Fund
| Security | % of fund |
|---|---|
| 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% |
Largest holdings only in UTI - Overnight Fund
| Security | % of fund |
|---|---|
| 182 DAYS T-BILL - 22/10/2026 | 1.11% |
| 91 DAYS T-BILL - 29/10/2026 | 0.55% |
| 364 DAYS T-BILL - 08/10/2026 | 0.28% |
| 364 DAYS T-BILL - 15/10/2026 | 0.06% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Axis Overnight | UTI - Overnight |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 5.1% | 4.6% |
| Cash and others | 94.9% | 95.4% |
Axis Overnight vs UTI - Overnight: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Axis Overnight Fund | UTI - Overnight Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.09% | 0.09% |
| Base expense ratio (Direct) | 0.06% | 0.06% |
| Total expense ratio (Regular) | 0.13% | 0.13% |
| Base expense ratio (Regular) | 0.09% | 0.10% |
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 Overnight with
Axis Overnight Fund vs UTI - Overnight Fund: Frequently Asked Questions
What is the difference between Axis Overnight Fund and UTI - Overnight Fund?
Both are Overnight funds, run by Axis Mutual Fund and UTI Mutual Fund. Their portfolios overlap 2.6%. Axis Overnight Fund charges 0.09% a year and UTI - Overnight Fund 0.09%.
Which has given higher returns, Axis Overnight Fund or UTI - Overnight Fund?
Over 1 year: Axis Overnight Fund +5.29%, UTI - Overnight Fund +5.26%. Over 3 years: Axis Overnight Fund +6.05% a year, UTI - Overnight Fund +6.02% a year. Over 5 years: Axis Overnight Fund +5.80% a year, UTI - Overnight Fund +5.77% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Axis Overnight Fund or UTI - Overnight Fund?
Both charge 0.09% a year.
How much do Axis Overnight Fund and UTI - Overnight Fund overlap?
2.6%. They hold 2 of the same securities, the largest shared ones being 91 Days Tbill (MD 01/10/2026), 91 Days Tbill (MD 08/10/2026). From each fund's latest monthly portfolio.
Which is riskier, Axis Overnight Fund or UTI - Overnight Fund?
On SEBI's riskometer, Axis Overnight Fund is rated Low and UTI - Overnight Fund Low to Moderate. Over 3 years, the standard deviation of daily returns was 0.04% and 0.04% a year.
Which is better for SIP, Axis Overnight Fund or UTI - Overnight Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,10,425 in Axis Overnight Fund (XIRR 5.9% a year) and ₹7,09,825 in UTI - Overnight Fund (XIRR 5.9% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Axis Overnight Fund and UTI - Overnight Fund?
Yes. 2.6% of each fund's money sits in the same holdings, so the two hold mostly different investments.
Who manages Axis Overnight Fund and UTI - Overnight Fund?
Axis Overnight Fund: Sachin Jain, Hardik Satra. UTI - Overnight Fund: Jaydeep Bhowal FM 1, Not Applicable FM 2, Not Applicable FM 3, Not Applicable FM 4.
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.