Bandhan Ultra Short Term Fund vs UTI Banking & PSU Debt Fund
Direct Plan, Growth option · Data as on 30-10-2026
Bandhan Ultra Short Term Fund is an Ultra Short fund and UTI Banking & PSU Debt Fund is a Banking & PSU fund. In the 3 years to 30-10-2026, Bandhan Ultra Short Term Fund (Direct) returned 7.1% a year and UTI Banking & PSU Debt Fund (Direct) returned 7.5% a year. Bandhan Ultra Short Term Fund charges 0.30% a year and UTI Banking & PSU Debt Fund 0.24% (Direct plans). Their portfolios overlap 19.9%: they hold 9 of the same securities.
Bandhan Ultra Short Term Fund
Ultra Short
- 3 year return
- 7.1%
- Expense ratio
- 0.30%
- NAV
- ₹16.73
UTI Banking & PSU Debt Fund
Banking & PSU
- 3 year return
- 7.5%
- Expense ratio
- 0.24%
- NAV
- ₹24.15
Which is better, Bandhan Ultra Short Term or UTI 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.
- UTI Banking & PSU Debt returned more over 5 years: 7.8% a year against 6.5%.
- UTI Banking & PSU Debt returned more over 3 years: 7.5% a year against 7.1%.
- UTI Banking & PSU Debt costs less: 0.24% a year against 0.30% (Direct plans).
- Bandhan Ultra Short Term swung less over 3 years: a standard deviation of 0.4% a year against 0.8%.
- Bandhan Ultra Short Term fell less in its worst fall since 19-07-2018: −0.9% against −6.7%.
- Bandhan Ultra Short Term is the larger fund: ₹4,098 Cr against ₹1,448 Cr.
- Their portfolios overlap 19.9%: 9 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 Ultra Short Term Fund | UTI Banking & PSU Debt Fund |
|---|---|---|
| Fund house | Bandhan Mutual Fund | UTI Mutual Fund |
| Category | Ultra Short | Banking & PSU |
| AUM | ₹4,098 Cr (30-09-2026) | ₹1,448 Cr (30-09-2026) |
| NAV | ₹16.73 (Direct) | ₹24.15 (Direct) |
| Expense ratio (Direct) | 0.30% | 0.24% |
| Expense ratio (Regular) | 0.49% | 0.47% |
| Riskometer | Low to Moderate | Low to Moderate |
| Benchmark | NIFTY Ultra Short Duration Debt Index A-I | NIFTY Banking & PSU Debt Index A-II |
| Launch date | 18-07-2018 | 03-02-2014 |
| Minimum investment | ₹100 | Regular Plan-Monthly Reinvestment of IDCW- Rs.20000, Regular Plan-Monthly Payout of IDCW- Rs.20000, Regular Plan-Half-yearly Reinvestment of IDCW- Rs.20000, Regular Plan-Half-yearly Payout of IDCW- Rs.20000, Regular Plan-Growth- Rs.500, Direct Plan-Growth |
| Lock in | None | None |
| Fund managers | Harshal Joshi | Anurag Mittal FM 1, Not Applicable FM 2, Not Applicable FM 3, Not Applicable FM 4 |
| Exit load | Nil | Nil |
Bandhan Ultra Short Term vs UTI 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 |
|---|---|---|---|---|---|---|---|
| Bandhan Ultra Short Term Fund (Direct) | +0.33% | +1.44% | +3.20% | +6.31% | +7.08% | +6.50% | -- |
| UTI Banking & PSU Debt Fund (Direct) | +0.29% | +1.41% | +3.21% | +5.74% | +7.47% | +7.79% | +6.46% |
| Ultra Short average | +0.30% | +1.34% | +3.06% | +6.00% | +6.82% | +6.27% | -- |
| Banking & PSU average | −0.21% | +0.14% | +2.36% | +4.04% | +6.88% | +6.22% | +6.95% |
Category average: the average of the 26 Ultra Short funds and the 19 Banking & PSU funds, same plan type.
Bandhan Ultra Short Term vs UTI Banking & PSU Debt: Year-wise Returns
| Year | Bandhan Ultra Short TermBandhan Ultra Short Term | UTI Banking & PSU DebtUTI Banking & PSU Debt |
|---|---|---|
| 2026to date | +5.26% | +4.86% |
| 2025 | +7.15% | +8.04% |
| 2024 | +7.64% | +7.92% |
| 2023 | +7.21% | +7.01% |
| 2022 | +4.59% | +10.57% |
| 2021 | +3.46% | +2.95% |
Bandhan Ultra Short Term vs UTI Banking & PSU Debt: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 1,288 of them, one for each trading day from 19-07-2021 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 Ultra Short Term Fund (Direct)
UTI Banking & PSU Debt Fund (Direct)
to
Dec 2021Nov 2019
to
Nov 2022Oct 2020
to
Oct 2023Aug 2021
to
Aug 2024Jul 2022
to
Jul 2025May 2023
to
May 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Bandhan Ultra Short Term | 0.0 | 28.5 | 71.5 | 0.0 | 0.0 | 0.0 | 0.0 | 6.0% | 5.9% | 4.5% | 7.4% |
| UTI Banking & PSU Debt | 0.0 | 14.8 | 85.2 | 0.0 | 0.0 | 0.0 | 0.0 | 7.0% | 7.4% | 3.5% | 9.8% |
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 19-07-2018. Past returns do not promise future returns.
Bandhan Ultra Short Term vs UTI 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 19-07-2018 to 30-10-2026: 100 instalments, ₹10,00,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Bandhan Ultra Short TermBandhan Ultra Short Term Fund (Direct) | ₹10,00,000 | ₹13,11,304 | ₹3,11,304 | 6.4% |
| UTI Banking & PSU DebtUTI Banking & PSU Debt Fund (Direct) | ₹10,00,000 | ₹13,51,417 | ₹3,51,417 | 7.1% |
Bandhan Ultra Short TermBandhan Ultra Short Term Fund (Direct)
UTI Banking & PSU DebtUTI 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.
Bandhan Ultra Short Term vs UTI Banking & PSU Debt: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Bandhan Ultra Short Term Fund (Direct) | UTI Banking & PSU Debt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.31% | +5.74% |
| Standard deviation | 0.44% | 0.65% |
| Sharpe ratio | 2.41 | 0.76 |
| Sortino ratio | 3.98 | 1.14 |
| Maximum drawdown | −0.1% (22-05-2026) | −0.3% (21-05-2026) |
| 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 Ultra Short Term Fund (Direct) | UTI Banking & PSU Debt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.08% | +7.47% |
| Standard deviation | 0.37% | 0.75% |
| Sharpe ratio | 2.89 | 1.92 |
| Sortino ratio | 5.48 | 3.16 |
| Maximum drawdown | −0.1% (22-05-2026) | −0.4% (13-06-2025) |
| 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 Ultra Short Term Fund (Direct) | UTI Banking & PSU Debt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.50% | +7.79% |
| Standard deviation | 0.36% | 2.92% |
| Sharpe ratio | 1.93 | 0.68 |
| Sortino ratio | 3.29 | 2.76 |
| Maximum drawdown | −0.3% (06-05-2022) | −1.1% (14-10-2022) |
| 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 Ultra Short Term Fund (Direct) | UTI Banking & PSU Debt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.40% | +7.16% |
| Standard deviation | 0.51% | 2.96% |
| Sharpe ratio | 2.20 | 0.44 |
| Sortino ratio | 4.43 | 0.60 |
| Maximum drawdown | −0.9% (24-03-2020) | −6.7% (30-04-2019) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 19-07-2018 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 Ultra Short Term Fund (Direct)
UTI Banking & PSU Debt Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Bandhan Ultra Short Term Fund (Direct) | −0.9% | 11-03-2020 | 24-03-2020 | 27-03-2020 | 3 days | 0.0% |
| UTI Banking & PSU Debt Fund (Direct) | −6.7% | 02-04-2019 | 30-04-2019 | 07-02-2020 | 9 months | 0.0% |
From daily values since 19-07-2018, 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 Ultra Short Term Fund (Direct)
UTI 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.
Bandhan Ultra Short Term Fund (Direct)
UTI 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.
Bandhan Ultra Short Term Fund (Direct)
UTI Banking & PSU Debt Fund (Direct)
Bandhan Ultra Short Term vs UTI Banking & PSU Debt: Portfolio Overlap
From each fund's latest monthly portfolio: Bandhan Ultra Short Term Fund, September 2026; UTI Banking & PSU Debt Fund, September 2026
Holdings in common
- Overlap
- 19.9%
- Held by both
- 9
- Only in Bandhan Ultra Short Term
- 60
- Only in UTI Banking & PSU Debt
- 33
| Security | % of Bandhan Ultra Short Term | % of UTI Banking & PSU Debt |
|---|---|---|
| Canara Bank | 5.97% | 7.77% |
| HDFC Bank Limited | 6.57% | 3.38% |
| National Bank For Agriculture and Rural Development | 5.38% | 3.38% |
| Small Industries Dev Bank of India | 2.39% | 3.38% |
| Axis Bank Limited | 1.80% | 3.39% |
| 8.1% Tata Capital Housing Finance Limited | 4.77% | 1.38% |
| HDFC Bank Limited | 1.19% | 1.68% |
| Corporate Debt Market Development Fund Class A2 | 0.33% | 0.26% |
| 7.61% Tamil Nadu SDL (MD 15/02/2027) | 0.12% | 3.47% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 19.9% means 19.9% 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 Ultra Short Term Fund
| Security | % of fund |
|---|---|
| 7.79% Small Industries Dev Bank of India | 4.89% |
| 91 Days Tbill (MD 01/10/2026) | 4.88% |
| National Bank For Agriculture and Rural Development | 4.19% |
| ICICI Securities Limited | 3.60% |
| Export Import Bank of India | 3.58% |
Largest holdings only in UTI Banking & PSU Debt Fund
| Security | % of fund |
|---|---|
| CD - UNION BANK OF INDIA - 19/01/2027 | 6.77% |
| CD - ICICI BANK LTD - 25/03/2027 | 5.02% |
| NCD NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT | 3.80% |
| NCD AXIS BANK LTD. | 3.80% |
| 7.38% GSEC 20/06/2027 | 3.48% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Bandhan Ultra Short Term | UTI Banking & PSU Debt |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 95.5% | 97.2% |
| Cash and others | 4.5% | 2.8% |
Bandhan Ultra Short Term vs UTI Banking & PSU Debt: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Bandhan Ultra Short Term Fund | UTI Banking & PSU Debt Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.30% | 0.24% |
| Base expense ratio (Direct) | 0.23% | 0.20% |
| Total expense ratio (Regular) | 0.49% | 0.47% |
| Base expense ratio (Regular) | 0.39% | 0.40% |
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 Ultra Short Term with
Bandhan Ultra Short Term Fund vs UTI Banking & PSU Debt Fund: Frequently Asked Questions
What is the difference between Bandhan Ultra Short Term Fund and UTI Banking & PSU Debt Fund?
Bandhan Ultra Short Term Fund is an Ultra Short fund, UTI Banking & PSU Debt Fund is a Banking & PSU fund, run by Bandhan Mutual Fund and UTI Mutual Fund. Their portfolios overlap 19.9%. Bandhan Ultra Short Term Fund charges 0.30% a year and UTI Banking & PSU Debt Fund 0.24%.
Which has given higher returns, Bandhan Ultra Short Term Fund or UTI Banking & PSU Debt Fund?
Over 1 year: Bandhan Ultra Short Term Fund +6.31%, UTI Banking & PSU Debt Fund +5.74%. Over 3 years: Bandhan Ultra Short Term Fund +7.08% a year, UTI Banking & PSU Debt Fund +7.47% a year. Over 5 years: Bandhan Ultra Short Term Fund +6.50% a year, UTI Banking & PSU Debt Fund +7.79% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Bandhan Ultra Short Term Fund or UTI Banking & PSU Debt Fund?
UTI Banking & PSU Debt Fund charges less: 0.24% a year against 0.30%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Bandhan Ultra Short Term Fund and UTI Banking & PSU Debt Fund overlap?
19.9%. They hold 9 of the same securities, the largest shared ones being Canara Bank, HDFC Bank Limited, National Bank For Agriculture and Rural Development. From each fund's latest monthly portfolio.
Which is riskier, Bandhan Ultra Short Term Fund or UTI Banking & PSU Debt Fund?
On SEBI's riskometer, Bandhan Ultra Short Term Fund is rated Low to Moderate and UTI Banking & PSU Debt Fund Low to Moderate. Over 3 years, the standard deviation of daily returns was 0.37% and 0.75% a year.
Which is better for SIP, Bandhan Ultra Short Term Fund or UTI 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 ₹7,27,156 in Bandhan Ultra Short Term Fund (XIRR 6.9% a year) and ₹7,35,942 in UTI Banking & PSU Debt Fund (XIRR 7.3% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Bandhan Ultra Short Term Fund and UTI Banking & PSU Debt Fund?
Yes. 19.9% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Bandhan Ultra Short Term Fund and UTI Banking & PSU Debt Fund?
Bandhan Ultra Short Term Fund: Harshal Joshi. UTI Banking & PSU Debt Fund: Anurag Mittal 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.