Axis Ultra Short to Short Term Fund vs SBI Banking & PSU Debt Fund
Direct Plan, Growth option · Data as on 30-10-2026
Axis Ultra Short to Short Term Fund is a Low Duration fund and SBI Banking & PSU Debt Fund is a Banking & PSU fund. In the 3 years to 30-10-2026, Axis Ultra Short to Short Term Fund (Direct) returned 7.3% a year and SBI Banking & PSU Debt Fund (Direct) returned 7.1% a year. Axis Ultra Short to Short Term Fund charges 0.37% a year and SBI Banking & PSU Debt Fund 0.41% (Direct plans). Their portfolios overlap 13.3%: they hold 10 of the same securities.
Axis Ultra Short to Short Term Fund
Low Duration
- 3 year return
- 7.3%
- Expense ratio
- 0.37%
- NAV
- ₹3,518.21
SBI Banking & PSU Debt Fund
Banking & PSU
- 3 year return
- 7.1%
- Expense ratio
- 0.41%
- NAV
- ₹3,539.20
Which is better, Axis Ultra Short to Short Term or SBI Banking & PSU Debt? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Axis Ultra Short to Short Term returned more over 5 years: 6.7% a year against 6.2%.
- Axis Ultra Short to Short Term returned more over 3 years: 7.3% a year against 7.1%.
- Axis Ultra Short to Short Term costs less: 0.37% a year against 0.41% (Direct plans).
- Axis Ultra Short to Short Term swung less over 3 years: a standard deviation of 0.5% a year against 1.0%.
- Axis Ultra Short to Short Term fell less in its worst fall since 18-11-2013: −1.5% against −3.2%.
- Axis Ultra Short to Short Term is the larger fund: ₹4,563 Cr against ₹3,512 Cr.
- Their portfolios overlap 13.3%: 10 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 Ultra Short to Short Term Fund | SBI Banking & PSU Debt Fund |
|---|---|---|
| Fund house | Axis Mutual Fund | SBI Mutual Fund |
| Category | Low Duration | Banking & PSU |
| AUM | ₹4,563 Cr (30-09-2026) | ₹3,512 Cr (30-09-2026) |
| NAV | ₹3,518.21 (Direct) | ₹3,539.20 (Direct) |
| Expense ratio (Direct) | 0.37% | 0.41% |
| Expense ratio (Regular) | 0.73% | 0.77% |
| Riskometer | Low to Moderate | Low to Moderate |
| Benchmark | NIFTY Low Duration Debt Index A-I | NIFTY Banking & PSU Debt Index A-II |
| Launch date | 09-10-2009 | 09-10-2009 |
| Minimum investment | ₹100 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Devang Shah, Aditya Pagaria | Rajeev Radhakrishnan, Ardhendu Bhattacharya |
| Exit load | Nil | Nil |
Axis Ultra Short to Short Term vs SBI Banking & PSU Debt: 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 Ultra Short to Short Term Fund (Direct) | +0.22% | +1.19% | +3.03% | +5.94% | +7.33% | +6.70% | +6.99% |
| SBI Banking & PSU Debt Fund (Direct) | +0.14% | +0.61% | +2.84% | +4.41% | +7.07% | +6.15% | +7.06% |
| Low Duration average | +0.18% | +1.12% | +2.95% | +5.79% | +7.22% | +6.58% | +6.73% |
| Banking & PSU average | −0.21% | +0.14% | +2.36% | +4.04% | +6.88% | +6.22% | +6.95% |
Category average: the average of the 25 Low Duration funds and the 19 Banking & PSU funds, same plan type.
Axis Ultra Short to Short Term vs SBI Banking & PSU Debt: Year-wise Returns
| Year | Axis Ultra Short to Short TermAxis Ultra Short to Short Term | SBI Banking & PSU DebtSBI Banking & PSU Debt |
|---|---|---|
| 2026to date | +4.87% | +3.81% |
| 2025 | +7.84% | +7.86% |
| 2024 | +8.02% | +8.20% |
| 2023 | +7.37% | +7.06% |
| 2022 | +4.73% | +3.35% |
| 2021 | +4.05% | +3.07% |
Axis Ultra Short to Short Term vs SBI Banking & PSU Debt: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 2,416 of them, one for each trading day from 18-11-2016 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 Ultra Short to Short Term Fund (Direct)
SBI Banking & PSU Debt Fund (Direct)
to
Sept 2017May 2016
to
May 2019Jan 2018
to
Jan 2021Oct 2019
to
Oct 2022Jun 2021
to
Jun 2024Jan 2023
to
Jan 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 Ultra Short to Short Term | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7.3% | 7.7% | 5.1% | 9.2% |
| SBI Banking & PSU Debt | 0.0 | 6.2 | 93.8 | 0.0 | 0.0 | 0.0 | 0.0 | 7.5% | 7.9% | 4.3% | 9.9% |
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 18-11-2013. Past returns do not promise future returns.
Axis Ultra Short to Short Term vs SBI Banking & PSU Debt: 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 01-11-2013 to 30-10-2026: 156 instalments, ₹15,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Axis Ultra Short to Short TermAxis Ultra Short to Short Term Fund (Direct) | ₹15,60,000 | ₹25,11,946 | ₹9,51,946 | 7.0% |
| SBI Banking & PSU DebtSBI Banking & PSU Debt Fund (Direct) | ₹15,60,000 | ₹25,09,437 | ₹9,49,437 | 7.0% |
Axis Ultra Short to Short TermAxis Ultra Short to Short Term Fund (Direct)
SBI Banking & PSU DebtSBI Banking & PSU Debt 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 Ultra Short to Short Term vs SBI Banking & PSU Debt: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Axis Ultra Short to Short Term Fund (Direct) | SBI Banking & PSU Debt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.94% | +4.41% |
| Standard deviation | 0.62% | 1.05% |
| Sharpe ratio | 1.12 | -0.79 |
| Sortino ratio | 1.67 | -1.09 |
| Maximum drawdown | −0.2% (21-05-2026) | −0.6% (02-04-2026) |
| 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 Ultra Short to Short Term Fund (Direct) | SBI Banking & PSU Debt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.33% | +7.07% |
| Standard deviation | 0.49% | 1.01% |
| Sharpe ratio | 2.66 | 1.04 |
| Sortino ratio | 4.55 | 1.57 |
| Maximum drawdown | −0.2% (21-05-2026) | −0.6% (02-04-2026) |
| 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 Ultra Short to Short Term Fund (Direct) | SBI Banking & PSU Debt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.70% | +6.15% |
| Standard deviation | 0.48% | 0.97% |
| Sharpe ratio | 1.88 | 0.36 |
| Sortino ratio | 2.93 | 0.50 |
| Maximum drawdown | −0.4% (06-05-2022) | −1.1% (09-05-2022) |
| 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 Ultra Short to Short Term Fund (Direct) | SBI Banking & PSU Debt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.60% | +7.65% |
| Standard deviation | 0.67% | 1.33% |
| Sharpe ratio | 2.32 | 1.31 |
| Sortino ratio | 4.41 | 2.12 |
| Maximum drawdown | −1.5% (24-03-2020) | −3.2% (23-03-2020) |
| 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 Ultra Short to Short Term Fund (Direct)
SBI Banking & PSU Debt Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Axis Ultra Short to Short Term Fund (Direct) | −1.5% | 06-03-2020 | 24-03-2020 | 27-03-2020 | 3 days | 0.0% |
| SBI Banking & PSU Debt Fund (Direct) | −3.2% | 06-03-2020 | 23-03-2020 | 20-04-2020 | 28 days | −0.0% |
From daily values since 18-11-2013, 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 Ultra Short to Short Term Fund (Direct)
SBI Banking & PSU Debt 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 Ultra Short to Short Term Fund (Direct)
SBI Banking & PSU Debt 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 Ultra Short to Short Term Fund (Direct)
SBI Banking & PSU Debt Fund (Direct)
Axis Ultra Short to Short Term vs SBI Banking & PSU Debt: Portfolio Overlap
From each fund's latest monthly portfolio: Axis Ultra Short to Short Term Fund, September 2026; SBI Banking & PSU Debt Fund, September 2026
Holdings in common
- Overlap
- 13.3%
- Held by both
- 10
- Only in Axis Ultra Short to Short Term
- 95
- Only in SBI Banking & PSU Debt
- 31
| Security | % of Axis Ultra Short to Short Term | % of SBI Banking & PSU Debt |
|---|---|---|
| 4.04% Government of India (04/10/2028) | 3.84% | 4.16% |
| HDFC Bank Limited (15/01/2027) | 3.76% | 4.19% |
| Bank of Baroda (05/02/2027) | 2.14% | 1.39% |
| Union Bank of India (16/03/2027) | 1.06% | 3.45% |
| Canara Bank (28/01/2027) | 0.86% | 2.79% |
| Punjab National Bank (12/03/2027) | 1.06% | 0.69% |
| 7.8% National Bank For Agriculture and Rural Development (15/03/2027) | 0.55% | 2.14% |
| HDFC Bank Limited (15/02/2027) | 0.41% | 4.16% |
| SBI - Corporate Debt Market Development Fund (CDMDF) - Class A2 | 0.39% | 0.43% |
| 6.95% REC Limited (18/02/2028) | 0.33% | 0.70% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 13.3% means 13.3% 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 Ultra Short to Short Term Fund
| Security | % of fund |
|---|---|
| 7.62% National Bank For Agriculture and Rural Development (31/01/2028) | 4.37% |
| Small Industries Dev Bank of India (18/02/2027) | 3.20% |
| Canara Bank (26/02/2027) | 2.67% |
| 7.96% Pipeline Infrastructure Private Limited (11/03/2027) | 2.26% |
| 7.44% National Bank For Agriculture and Rural Development (24/02/2028) | 2.18% |
Largest holdings only in SBI Banking & PSU Debt Fund
| Security | % of fund |
|---|---|
| Small Industries Development Bank of India | 5.41% |
| Canara Bank | 5.41% |
| ONGC Petro Additions Ltd. | 4.99% |
| GAIL (India) Ltd. | 4.97% |
| State Bank of India( AT1 Bond under Basel III ) | 3.69% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Axis Ultra Short to Short Term | SBI Banking & PSU Debt |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 99.3% | 89.8% |
| Cash and others | 0.7% | 10.2% |
Axis Ultra Short to Short Term vs SBI Banking & PSU Debt: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Axis Ultra Short to Short Term Fund | SBI Banking & PSU Debt Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.37% | 0.41% |
| Base expense ratio (Direct) | 0.30% | 0.34% |
| Total expense ratio (Regular) | 0.73% | 0.77% |
| Base expense ratio (Regular) | 0.60% | 0.65% |
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 Ultra Short to Short Term with
Axis Ultra Short to Short Term Fund vs SBI Banking & PSU Debt Fund: Frequently Asked Questions
What is the difference between Axis Ultra Short to Short Term Fund and SBI Banking & PSU Debt Fund?
Axis Ultra Short to Short Term Fund is a Low Duration fund, SBI Banking & PSU Debt Fund is a Banking & PSU fund, run by Axis Mutual Fund and SBI Mutual Fund. Their portfolios overlap 13.3%. Axis Ultra Short to Short Term Fund charges 0.37% a year and SBI Banking & PSU Debt Fund 0.41%.
Which has given higher returns, Axis Ultra Short to Short Term Fund or SBI Banking & PSU Debt Fund?
Over 1 year: Axis Ultra Short to Short Term Fund +5.94%, SBI Banking & PSU Debt Fund +4.41%. Over 3 years: Axis Ultra Short to Short Term Fund +7.33% a year, SBI Banking & PSU Debt Fund +7.07% a year. Over 5 years: Axis Ultra Short to Short Term Fund +6.70% a year, SBI Banking & PSU Debt Fund +6.15% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Axis Ultra Short to Short Term Fund or SBI Banking & PSU Debt Fund?
Axis Ultra Short to Short Term Fund charges less: 0.37% a year against 0.41%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Axis Ultra Short to Short Term Fund and SBI Banking & PSU Debt Fund overlap?
13.3%. They hold 10 of the same securities, the largest shared ones being 4.04% Government of India (04/10/2028), HDFC Bank Limited (15/01/2027), Bank of Baroda (05/02/2027). From each fund's latest monthly portfolio.
Which is riskier, Axis Ultra Short to Short Term Fund or SBI Banking & PSU Debt Fund?
On SEBI's riskometer, Axis Ultra Short to Short Term Fund is rated Low to Moderate and SBI Banking & PSU Debt Fund Low to Moderate. Over 3 years, the standard deviation of daily returns was 0.49% and 1.01% a year.
Which is better for SIP, Axis Ultra Short to Short Term Fund or SBI Banking & PSU Debt Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,30,235 in Axis Ultra Short to Short Term Fund (XIRR 7.0% a year) and ₹7,21,304 in SBI Banking & PSU Debt Fund (XIRR 6.5% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Axis Ultra Short to Short Term Fund and SBI Banking & PSU Debt Fund?
Yes. 13.3% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Axis Ultra Short to Short Term Fund and SBI Banking & PSU Debt Fund?
Axis Ultra Short to Short Term Fund: Devang Shah, Aditya Pagaria. SBI Banking & PSU Debt Fund: Rajeev Radhakrishnan, Ardhendu Bhattacharya.
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.