Bandhan Money Market Fund vs Invesco India Ultra Short Term Fund
Direct Plan, Growth option · Data as on 30-10-2026
Bandhan Money Market Fund is a Money Market fund and Invesco India Ultra Short Term Fund is an Ultra Short fund. In the 3 years to 30-10-2026, Bandhan Money Market Fund (Direct) returned 7.3% a year and Invesco India Ultra Short Term Fund (Direct) returned 7.3% a year. Bandhan Money Market Fund charges 0.11% a year and Invesco India Ultra Short Term Fund 0.27% (Direct plans). Their portfolios overlap 14.8%: they hold 11 of the same securities.
Bandhan Money Market Fund
Money Market
- 3 year return
- 7.3%
- Expense ratio
- 0.11%
- NAV
- ₹47.54
Invesco India Ultra Short Term Fund
Ultra Short
- 3 year return
- 7.3%
- Expense ratio
- 0.27%
- NAV
- ₹3,133.58
Which is better, Bandhan Money Market 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.
- Bandhan Money Market returned more over 5 years: 6.7% a year against 6.7%.
- Bandhan Money Market returned more over 3 years: 7.3% a year against 7.3%.
- Bandhan Money Market costs less: 0.11% a year against 0.27% (Direct plans).
- Invesco India Ultra Short Term swung less over 3 years: a standard deviation of 0.4% a year against 0.4%.
- Bandhan Money Market fell less in its worst fall since 02-01-2013: −1.3% against −2.7%.
- Bandhan Money Market is the larger fund: ₹13,129 Cr against ₹1,394 Cr.
- Their portfolios overlap 14.8%: 11 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 Money Market Fund | Invesco India Ultra Short Term Fund |
|---|---|---|
| Fund house | Bandhan Mutual Fund | Invesco Mutual Fund |
| Category | Money Market | Ultra Short |
| AUM | ₹13,129 Cr (30-09-2026) | ₹1,394 Cr (30-09-2026) |
| NAV | ₹47.54 (Direct) | ₹3,133.58 (Direct) |
| Expense ratio (Direct) | 0.11% | 0.27% |
| Expense ratio (Regular) | 0.36% | 0.79% |
| Riskometer | Low to Moderate | Low to Moderate |
| Benchmark | NIFTY Money Market Index A-I | NIFTY Ultra Short Duration Debt Index A-I |
| Launch date | 18-02-2003 | 30-12-2010 |
| Minimum investment | ₹100 | Not available |
| Lock in | None | None |
| Fund managers | Brijesh Shah, Gautam Kaul | Krishna Cheemalapati, Vikas Garg |
| Exit load | Nil | Nil |
Bandhan Money Market 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 |
|---|---|---|---|---|---|---|---|
| Bandhan Money Market Fund (Direct) | +0.33% | +1.52% | +3.31% | +6.46% | +7.34% | +6.72% | +6.47% |
| Invesco India Ultra Short Term Fund (Direct) | +0.33% | +1.51% | +3.32% | +6.55% | +7.26% | +6.67% | +6.71% |
| Money Market average | +0.33% | +1.49% | +3.29% | +6.35% | +7.24% | +6.68% | +6.60% |
| Ultra Short average | +0.30% | +1.34% | +3.06% | +6.00% | +6.82% | +6.27% | +6.43% |
Category average: the average of the 27 Money Market funds and the 26 Ultra Short funds, same plan type.
Bandhan Money Market vs Invesco India Ultra Short Term: Year-wise Returns
| Year | Bandhan Money MarketBandhan Money Market | Invesco India Ultra Short TermInvesco India Ultra Short Term |
|---|---|---|
| 2026to date | +5.36% | +5.48% |
| 2025 | +7.60% | +7.30% |
| 2024 | +7.84% | +7.79% |
| 2023 | +7.43% | +7.31% |
| 2022 | +4.74% | +4.78% |
| 2021 | +3.64% | +3.70% |
Bandhan Money Market vs Invesco India Ultra Short Term: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 2,627 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.
Bandhan Money Market Fund (Direct)
Invesco India Ultra 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Bandhan Money Market | 0.0 | 12.6 | 87.4 | 0.0 | 0.0 | 0.0 | 0.0 | 7.0% | 7.1% | 4.6% | 9.5% |
| Invesco India Ultra Short Term | 0.0 | 10.8 | 88.8 | 0.3 | 0.0 | 0.0 | 0.0 | 7.3% | 7.4% | 4.7% | 10.1% |
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.
Bandhan Money Market 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 02-01-2013 to 30-10-2026: 166 instalments, ₹16,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Bandhan Money MarketBandhan Money Market Fund (Direct) | ₹16,60,000 | ₹27,00,440 | ₹10,40,440 | 6.7% |
| Invesco India Ultra Short TermInvesco India Ultra Short Term Fund (Direct) | ₹16,60,000 | ₹27,34,224 | ₹10,74,224 | 6.9% |
Bandhan Money MarketBandhan Money Market 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.
Bandhan Money Market 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 | Bandhan Money Market Fund (Direct) | Invesco India Ultra Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.46% | +6.55% |
| Standard deviation | 0.51% | 0.44% |
| Sharpe ratio | 2.39 | 2.93 |
| Sortino ratio | 3.88 | 5.02 |
| Maximum drawdown | −0.2% (22-05-2026) | −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 | Bandhan Money Market Fund (Direct) | Invesco India Ultra Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.34% | +7.26% |
| Standard deviation | 0.42% | 0.37% |
| Sharpe ratio | 3.16 | 3.34 |
| Sortino ratio | 5.98 | 6.66 |
| Maximum drawdown | −0.2% (22-05-2026) | −0.1% (22-10-2026) |
| 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 Money Market Fund (Direct) | Invesco India Ultra Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.72% | +6.67% |
| Standard deviation | 0.39% | 0.36% |
| Sharpe ratio | 2.34 | 2.40 |
| Sortino ratio | 4.15 | 4.27 |
| Maximum drawdown | −0.2% (13-05-2022) | −0.3% (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 Money Market Fund (Direct) | Invesco India Ultra Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.20% | +7.32% |
| Standard deviation | 0.59% | 0.86% |
| Sharpe ratio | 1.95 | 1.48 |
| Sortino ratio | 3.53 | 2.04 |
| Maximum drawdown | −1.3% (24-03-2020) | −2.7% (24-07-2013) |
| 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.
Bandhan Money Market 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 |
|---|---|---|---|---|---|---|
| Bandhan Money Market Fund (Direct) | −1.3% | 11-03-2020 | 24-03-2020 | 27-03-2020 | 3 days | 0.0% |
| Invesco India Ultra Short Term Fund (Direct) | −2.7% | 22-05-2013 | 24-07-2013 | 30-09-2013 | 2 months | 0.0% |
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.
Bandhan Money Market Fund (Direct)
Invesco India 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 Money Market Fund (Direct)
Invesco India 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 Money Market Fund (Direct)
Invesco India Ultra Short Term Fund (Direct)
Bandhan Money Market vs Invesco India Ultra Short Term: Portfolio Overlap
From each fund's latest monthly portfolio: Bandhan Money Market Fund, September 2026; Invesco India Ultra Short Term Fund, September 2026
Holdings in common
- Overlap
- 14.8%
- Held by both
- 11
- Only in Bandhan Money Market
- 88
- Only in Invesco India Ultra Short Term
- 31
| Security | % of Bandhan Money Market | % of Invesco India Ultra Short Term |
|---|---|---|
| Bank of Baroda | 4.09% | 3.15% |
| ICICI Bank Limited | 2.35% | 3.51% |
| National Bank For Financing Infrastructure And Development | 2.22% | 2.44% |
| Axis Bank Limited | 1.79% | 2.44% |
| HDFC Bank Limited | 4.46% | 1.75% |
| Punjab National Bank | 1.12% | 4.20% |
| Kotak Mahindra Bank Limited | 1.04% | 3.50% |
| HDFC Bank Limited | 0.56% | 3.48% |
| Canara Bank | 0.37% | 6.27% |
| Corporate Debt Market Development Fund Class A2 | 0.31% | 0.30% |
| Bank of Baroda | 0.19% | 1.76% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 14.8% means 14.8% 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 Bandhan Money Market Fund
| Security | % of fund |
|---|---|
| HDFC Bank Limited | 3.52% |
| Small Industries Dev Bank of India | 2.61% |
| Punjab National Bank | 2.59% |
| Canara Bank | 2.42% |
| Kotak Mahindra Bank Limited | 2.24% |
Largest holdings only in Invesco India Ultra Short Term Fund
| Security | % of fund |
|---|---|
| 7.8% National Bank For Agriculture and Rural Development 2027 | 7.54% |
| 7.96% Pipeline Infrastructure Private Limited 2027 | 4.31% |
| Kotak Mahindra Bank Limited 2027 | 3.51% |
| Union Bank of India 2027 | 3.48% |
| 8.1% Tata Capital Housing Finance Limited 2027 | 2.87% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Bandhan Money Market | Invesco India Ultra Short Term |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 97.4% | 97.7% |
| Cash and others | 2.6% | 2.3% |
Bandhan Money Market vs Invesco India Ultra Short Term: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Bandhan Money Market Fund | Invesco India Ultra Short Term Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.11% | 0.27% |
| Base expense ratio (Direct) | 0.09% | 0.21% |
| Total expense ratio (Regular) | 0.36% | 0.79% |
| Base expense ratio (Regular) | 0.30% | 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
Compare Bandhan Money Market with
Compare Invesco India Ultra Short Term with
- Invesco India Ultra Short Term vs Tata Ultra Short Term
- Invesco India Ultra Short Term vs Aditya Birla Sun Life Ultra Short Term
- Invesco India Ultra Short Term vs Axis Ultra Short Term fund
- Invesco India Ultra Short Term vs Mirae Asset Ultra Short-Term
- Invesco India Ultra Short Term vs ICICI Prudential Ultra Short Term
Bandhan Money Market Fund vs Invesco India Ultra Short Term Fund: Frequently Asked Questions
What is the difference between Bandhan Money Market Fund and Invesco India Ultra Short Term Fund?
Bandhan Money Market Fund is a Money Market fund, Invesco India Ultra Short Term Fund is an Ultra Short fund, run by Bandhan Mutual Fund and Invesco Mutual Fund. Their portfolios overlap 14.8%. Bandhan Money Market Fund charges 0.11% a year and Invesco India Ultra Short Term Fund 0.27%.
Which has given higher returns, Bandhan Money Market Fund or Invesco India Ultra Short Term Fund?
Over 1 year: Bandhan Money Market Fund +6.46%, Invesco India Ultra Short Term Fund +6.55%. Over 3 years: Bandhan Money Market Fund +7.34% a year, Invesco India Ultra Short Term Fund +7.26% a year. Over 5 years: Bandhan Money Market Fund +6.72% a year, Invesco India Ultra Short Term Fund +6.67% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Bandhan Money Market Fund or Invesco India Ultra Short Term Fund?
Bandhan Money Market Fund charges less: 0.11% a year against 0.27%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Bandhan Money Market Fund and Invesco India Ultra Short Term Fund overlap?
14.8%. They hold 11 of the same securities, the largest shared ones being Bank of Baroda, ICICI Bank Limited, National Bank For Financing Infrastructure And Development. From each fund's latest monthly portfolio.
Which is riskier, Bandhan Money Market Fund or Invesco India Ultra Short Term Fund?
On SEBI's riskometer, Bandhan Money Market Fund is rated Low to Moderate and Invesco India Ultra Short Term Fund Low to Moderate. Over 3 years, the standard deviation of daily returns was 0.42% and 0.37% a year.
Which is better for SIP, Bandhan Money Market Fund or Invesco India 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 ₹7,31,603 in Bandhan Money Market Fund (XIRR 7.1% a year) and ₹7,30,470 in Invesco India Ultra Short Term Fund (XIRR 7.0% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Bandhan Money Market Fund and Invesco India Ultra Short Term Fund?
Yes. 14.8% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Bandhan Money Market Fund and Invesco India Ultra Short Term Fund?
Bandhan Money Market Fund: Brijesh Shah, Gautam Kaul. 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.