Bandhan Banking and PSU Debt Fund vs ICICI Prudential Ultra Short Term Fund
Direct Plan, Growth option · Data as on 30-10-2026
Bandhan Banking and PSU Debt Fund is a Banking & PSU fund and ICICI Prudential Ultra Short Term Fund is an Ultra Short fund. In the 3 years to 30-10-2026, Bandhan Banking and PSU Debt Fund (Direct) returned 7.0% a year and ICICI Prudential Ultra Short Term Fund (Direct) returned 7.3% a year. Bandhan Banking and PSU Debt Fund charges 0.39% a year and ICICI Prudential Ultra Short Term Fund 0.40% (Direct plans). Their portfolios overlap 13.4%: they hold 14 of the same securities.
Bandhan Banking and PSU Debt Fund
Banking & PSU
- 3 year return
- 7.0%
- Expense ratio
- 0.39%
- NAV
- ₹27.16
ICICI Prudential Ultra Short Term Fund
Ultra Short
- 3 year return
- 7.3%
- Expense ratio
- 0.40%
- NAV
- ₹32.60
Which is better, Bandhan Banking and PSU Debt or ICICI Prudential 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.
- ICICI Prudential Ultra Short Term returned more over 5 years: 6.8% a year against 6.2%.
- ICICI Prudential Ultra Short Term returned more over 3 years: 7.3% a year against 7.0%.
- Bandhan Banking and PSU Debt costs less: 0.39% a year against 0.40% (Direct plans).
- ICICI Prudential Ultra Short Term swung less over 3 years: a standard deviation of 0.4% a year against 0.9%.
- Bandhan Banking and PSU Debt fell less in its worst fall since 08-03-2013: −3.3% against −7.5%.
- ICICI Prudential Ultra Short Term is the larger fund: ₹15,236 Cr against ₹11,893 Cr.
- Their portfolios overlap 13.4%: 14 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 | Bandhan Banking and PSU Debt Fund | ICICI Prudential Ultra Short Term Fund |
|---|---|---|
| Fund house | Bandhan Mutual Fund | ICICI Prudential Mutual Fund |
| Category | Banking & PSU | Ultra Short |
| AUM | ₹11,893 Cr (30-09-2026) | ₹15,236 Cr (30-09-2026) |
| NAV | ₹27.16 (Direct) | ₹32.60 (Direct) |
| Expense ratio (Direct) | 0.39% | 0.40% |
| Expense ratio (Regular) | 0.68% | 0.80% |
| Riskometer | Low to Moderate | Not available |
| Benchmark | NIFTY Banking & PSU Debt Index A-II | NIFTY Ultra Short Duration Debt Index A-I |
| Launch date | 13-03-2013 | 03-05-2011 |
| Minimum investment | ₹1,000 | 1) Growth & IDCW - Rs. 5,000/- (plus multiples of Re. 1/-) 2) AEP – Rs. 25,000 (plus multiples of Re. 1/-) Minimum application amount for switch ins – Rs. 5,000 and any amount thereafter 1) Growth & IDCW - Rs. 5,000/- (plus multiples of Re. 1/-) 2) AEP – |
| Lock in | None | None |
| Fund managers | Gautam Kaul, Suyash Choudhary | Ritesh Lunawat, Manish Banthia |
| Exit load | Nil | Nil |
Bandhan Banking and PSU Debt vs ICICI Prudential 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 |
|---|---|---|---|---|---|---|---|
| Bandhan Banking and PSU Debt Fund (Direct) | −0.01% | +0.57% | +3.03% | +5.08% | +7.00% | +6.24% | +7.14% |
| ICICI Prudential Ultra Short Term Fund (Direct) | +0.29% | +1.40% | +3.20% | +6.37% | +7.31% | +6.78% | +7.15% |
| Banking & PSU average | −0.21% | +0.14% | +2.36% | +4.04% | +6.88% | +6.22% | +6.95% |
| Ultra Short average | +0.30% | +1.34% | +3.06% | +6.00% | +6.82% | +6.27% | +6.43% |
Category average: the average of the 19 Banking & PSU funds and the 26 Ultra Short funds, same plan type.
Bandhan Banking and PSU Debt vs ICICI Prudential Ultra Short Term: Year-wise Returns
| Year | Bandhan Banking and PSU DebtBandhan Banking and PSU Debt | ICICI Prudential Ultra Short TermICICI Prudential Ultra Short Term |
|---|---|---|
| 2026to date | +4.28% | +5.28% |
| 2025 | +7.43% | +7.52% |
| 2024 | +7.91% | +7.90% |
| 2023 | +7.06% | +7.39% |
| 2022 | +3.93% | +5.05% |
| 2021 | +3.74% | +4.58% |
Bandhan Banking and PSU Debt vs ICICI Prudential Ultra Short Term: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 2,584 of them, one for each trading day from 08-03-2016 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.
Bandhan Banking and PSU Debt Fund (Direct)
ICICI Prudential Ultra Short Term Fund (Direct)
to
Jan 2017Nov 2015
to
Nov 2018Aug 2017
to
Aug 2020Jun 2019
to
Jun 2022Apr 2021
to
Apr 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Bandhan Banking and PSU Debt | 0.0 | 3.9 | 93.2 | 2.9 | 0.0 | 0.0 | 0.0 | 7.6% | 7.5% | 4.7% | 10.2% |
| ICICI Prudential Ultra Short Term | 0.0 | 0.0 | 87.0 | 13.0 | 0.0 | 0.0 | 0.0 | 8.0% | 7.7% | 5.5% | 12.9% |
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 08-03-2013. Past returns do not promise future returns.
Bandhan Banking and PSU Debt vs ICICI Prudential 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 08-03-2013 to 30-10-2026: 164 instalments, ₹16,40,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Bandhan Banking and PSU DebtBandhan Banking and PSU Debt Fund (Direct) | ₹16,40,000 | ₹27,35,294 | ₹10,95,294 | 7.2% |
| ICICI Prudential Ultra Short TermICICI Prudential Ultra Short Term Fund (Direct) | ₹16,40,000 | ₹27,88,315 | ₹11,48,315 | 7.4% |
Bandhan Banking and PSU DebtBandhan Banking and PSU Debt Fund (Direct)
ICICI Prudential Ultra Short TermICICI Prudential 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.
Bandhan Banking and PSU Debt vs ICICI Prudential Ultra Short Term: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Bandhan Banking and PSU Debt Fund (Direct) | ICICI Prudential Ultra Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.08% | +6.37% |
| Standard deviation | 1.19% | 0.48% |
| Sharpe ratio | -0.14 | 2.35 |
| Sortino ratio | -0.22 | 3.82 |
| Maximum drawdown | −0.6% (21-05-2026) | −0.1% (08-07-2026) |
| 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 | Bandhan Banking and PSU Debt Fund (Direct) | ICICI Prudential Ultra Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.00% | +7.31% |
| Standard deviation | 0.92% | 0.39% |
| Sharpe ratio | 1.06 | 3.25 |
| Sortino ratio | 1.65 | 6.24 |
| Maximum drawdown | −0.6% (21-05-2026) | −0.1% (08-07-2026) |
| 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 | Bandhan Banking and PSU Debt Fund (Direct) | ICICI Prudential Ultra Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.24% | +6.78% |
| Standard deviation | 0.84% | 0.37% |
| Sharpe ratio | 0.53 | 2.67 |
| Sortino ratio | 0.78 | 4.97 |
| Maximum drawdown | −0.7% (13-05-2022) | −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 | Bandhan Banking and PSU Debt Fund (Direct) | ICICI Prudential Ultra Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.59% | +7.90% |
| Standard deviation | 1.45% | 1.69% |
| Sharpe ratio | 1.08 | 1.09 |
| Sortino ratio | 1.86 | 1.46 |
| Maximum drawdown | −3.3% (23-03-2020) | −7.5% (19-08-2013) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 08-03-2013 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.
Bandhan Banking and PSU Debt Fund (Direct)
ICICI Prudential Ultra Short Term Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Bandhan Banking and PSU Debt Fund (Direct) | −3.3% | 06-03-2020 | 23-03-2020 | 27-03-2020 | 4 days | −0.1% |
| ICICI Prudential Ultra Short Term Fund (Direct) | −7.5% | 28-05-2013 | 19-08-2013 | 27-03-2014 | 7 months | 0.0% |
From daily values since 08-03-2013, 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.
Bandhan Banking and PSU Debt Fund (Direct)
ICICI Prudential Ultra 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.
Bandhan Banking and PSU Debt Fund (Direct)
ICICI Prudential Ultra 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.
Bandhan Banking and PSU Debt Fund (Direct)
ICICI Prudential Ultra Short Term Fund (Direct)
Bandhan Banking and PSU Debt vs ICICI Prudential Ultra Short Term: Portfolio Overlap
From each fund's latest monthly portfolio: Bandhan Banking and PSU Debt Fund, September 2026; ICICI Prudential Ultra Short Term Fund, September 2026
Holdings in common
- Overlap
- 13.4%
- Held by both
- 14
- Only in Bandhan Banking and PSU Debt
- 78
- Only in ICICI Prudential Ultra Short Term
- 106
| Security | % of Bandhan Banking and PSU Debt | % of ICICI Prudential Ultra Short Term |
|---|---|---|
| Punjab National Bank | 2.46% | 2.57% |
| Canara Bank | 2.25% | 3.03% |
| 7.53% National Bank For Agriculture and Rural Development | 1.63% | 2.45% |
| Punjab National Bank | 1.81% | 1.28% |
| Bank of Baroda | 1.24% | 1.61% |
| Canara Bank | 1.44% | 1.12% |
| 7.48% National Bank For Agriculture and Rural Development | 2.30% | 0.65% |
| Axis Bank Limited | 2.46% | 0.64% |
| Bank of Baroda | 1.47% | 0.64% |
| Kotak Mahindra Bank Limited | 0.41% | 1.13% |
| Corporate Debt Market Development Fund Class A2 | 0.37% | 0.33% |
| Bank of Baroda | 0.41% | 0.32% |
| Canara Bank | 0.41% | 0.32% |
| 8.06% REC Limited | 0.21% | 0.07% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 13.4% means 13.4% 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 Bandhan Banking and PSU Debt Fund
| Security | % of fund |
|---|---|
| Canara Bank | 4.11% |
| 6.45% ICICI Bank Limited | 3.34% |
| 7.7% HDFC Bank Limited | 3.31% |
| 8.24% Power Grid Corporation of India Limited | 3.17% |
| 7.37% Indian Railway Finance Corporation Limited | 2.96% |
Largest holdings only in ICICI Prudential Ultra Short Term Fund
| Security | % of fund |
|---|---|
| 91 Days Treasury Bills | 3.28% |
| Small Industries Development Bank Of India. | 2.89% |
| Small Industries Development Bank Of India. | 2.30% |
| HDFC Bank Ltd. | 2.24% |
| Vedanta Ltd. | 2.08% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Bandhan Banking and PSU Debt | ICICI Prudential Ultra Short Term |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 85.7% | 97.3% |
| Cash and others | 14.3% | 2.7% |
Bandhan Banking and PSU Debt vs ICICI Prudential Ultra Short Term: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Bandhan Banking and PSU Debt Fund | ICICI Prudential Ultra Short Term Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.39% | 0.40% |
| Base expense ratio (Direct) | 0.32% | 0.34% |
| Total expense ratio (Regular) | 0.68% | 0.80% |
| Base expense ratio (Regular) | 0.57% | 0.68% |
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 Bandhan Banking and PSU Debt with
Compare ICICI Prudential Ultra Short Term with
Bandhan Banking and PSU Debt Fund vs ICICI Prudential Ultra Short Term Fund: Frequently Asked Questions
What is the difference between Bandhan Banking and PSU Debt Fund and ICICI Prudential Ultra Short Term Fund?
Bandhan Banking and PSU Debt Fund is a Banking & PSU fund, ICICI Prudential Ultra Short Term Fund is an Ultra Short fund, run by Bandhan Mutual Fund and ICICI Prudential Mutual Fund. Their portfolios overlap 13.4%. Bandhan Banking and PSU Debt Fund charges 0.39% a year and ICICI Prudential Ultra Short Term Fund 0.40%.
Which has given higher returns, Bandhan Banking and PSU Debt Fund or ICICI Prudential Ultra Short Term Fund?
Over 1 year: Bandhan Banking and PSU Debt Fund +5.08%, ICICI Prudential Ultra Short Term Fund +6.37%. Over 3 years: Bandhan Banking and PSU Debt Fund +7.00% a year, ICICI Prudential Ultra Short Term Fund +7.31% a year. Over 5 years: Bandhan Banking and PSU Debt Fund +6.24% a year, ICICI Prudential Ultra Short Term Fund +6.78% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Bandhan Banking and PSU Debt Fund or ICICI Prudential Ultra Short Term Fund?
Bandhan Banking and PSU Debt Fund charges less: 0.39% a year against 0.40%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Bandhan Banking and PSU Debt Fund and ICICI Prudential Ultra Short Term Fund overlap?
13.4%. They hold 14 of the same securities, the largest shared ones being Punjab National Bank, Canara Bank, 7.53% National Bank For Agriculture and Rural Development. From each fund's latest monthly portfolio.
Which is better for SIP, Bandhan Banking and PSU Debt Fund or ICICI Prudential Ultra Short Term Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,21,694 in Bandhan Banking and PSU Debt Fund (XIRR 6.6% a year) and ₹7,31,280 in ICICI Prudential Ultra Short Term Fund (XIRR 7.1% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Bandhan Banking and PSU Debt Fund and ICICI Prudential Ultra Short Term Fund?
Yes. 13.4% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Bandhan Banking and PSU Debt Fund and ICICI Prudential Ultra Short Term Fund?
Bandhan Banking and PSU Debt Fund: Gautam Kaul, Suyash Choudhary. ICICI Prudential Ultra Short Term Fund: Ritesh Lunawat, Manish Banthia.
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.