Bank of India Ultra Short Term Fund vs Nippon India CRISIL-IBX Financial Services 3-6 Months Debt Index Fund
Direct Plan, Growth option · Data as on 30-10-2026
Bank of India Ultra Short Term Fund is an Ultra Short fund and Nippon India CRISIL-IBX Financial Services 3-6 Months Debt Index Fund is a mutual fund. Bank of India Ultra Short Term Fund charges 0.42% a year and Nippon India CRISIL-IBX Financial Services 3-6 Months Debt Index Fund 0.11% (Direct plans). Their portfolios overlap 14.8%: they hold 3 of the same securities.
Bank of India Ultra Short Term Fund
Ultra Short
- Expense ratio
- 0.42%
- NAV
- ₹3,547.71
Nippon India CRISIL-IBX Financial Services 3-6 Months Debt Index Fund
- Expense ratio
- 0.11%
- NAV
- ₹10.45
Which is better, Bank of India Ultra Short Term or Nippon India CRISIL-IBX Financial Services 3-6 Months Debt Index? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Nippon India CRISIL-IBX Financial Services 3-6 Months Debt Index costs less: 0.11% a year against 0.42% (Direct plans).
- Bank of India Ultra Short Term fell less in its worst fall since 13-03-2026: −0.1% against −0.1%.
- Nippon India CRISIL-IBX Financial Services 3-6 Months Debt Index is the larger fund: ₹260 Cr against ₹196 Cr.
- Their portfolios overlap 14.8%: 3 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 | Bank of India Ultra Short Term Fund | Nippon India CRISIL-IBX Financial Services 3-6 Months Debt Index Fund |
|---|---|---|
| Fund house | Bank of India Mutual Fund | Nippon India Mutual Fund |
| Category | Ultra Short | Not available |
| AUM | ₹196 Cr (30-09-2026) | ₹260 Cr (30-09-2026) |
| NAV | ₹3,547.71 (Direct) | ₹10.45 (Direct) |
| Expense ratio (Direct) | 0.42% | 0.11% |
| Expense ratio (Regular) | 1.02% | 0.22% |
| Riskometer | Low to Moderate | Not available |
| Benchmark | CRISIL Ultra Short Duration Debt A-I Index | Not available |
| Launch date | 16-07-2008 | Not available |
| Minimum investment | ₹5,000 | Not available |
| Lock in | None | Not available |
| Fund managers | Mithraem Bharucha | Not available |
| Exit load | NIL | Not available |
Bank of India Ultra Short Term vs Nippon India CRISIL-IBX Financial Services 3-6 Months Debt Index: 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 |
|---|---|---|---|---|---|---|---|
| Bank of India Ultra Short Term Fund (Direct) | +0.29% | +1.36% | +3.08% | +6.24% | +6.83% | +6.26% | +6.43% |
| Nippon India CRISIL-IBX Financial Services 3-6 Months Debt Index Fund (Direct) | +0.32% | +1.49% | +3.35% | -- | -- | -- | -- |
| Ultra Short average | +0.30% | +1.34% | +3.06% | +6.00% | +6.82% | +6.27% | +6.43% |
Category average: the average of the 26 Ultra Short funds, same plan type.
Bank of India Ultra Short Term vs Nippon India CRISIL-IBX Financial Services 3-6 Months Debt Index: Year-wise Returns
| Year | Bank of India Ultra Short TermBank of India Ultra Short Term | Nippon India CRISIL-IBX Financial Services 3-6 Months Debt IndexNippon India CRISIL-IBX Financial Services 3-6 Months Debt Index |
|---|---|---|
| 2026to date | +5.20% | -- |
| 2025 | +7.00% | -- |
| 2024 | +7.19% | -- |
| 2023 | +6.69% | -- |
| 2022 | +4.56% | -- |
| 2021 | +3.37% | -- |
Bank of India Ultra Short Term vs Nippon India CRISIL-IBX Financial Services 3-6 Months Debt Index: Rolling Returns
Every holding period of both funds
Bank of India Ultra Short Term vs Nippon India CRISIL-IBX Financial Services 3-6 Months Debt Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Bank of India Ultra Short Term Fund (Direct) | Nippon India CRISIL-IBX Financial Services 3-6 Months Debt Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.24% | +7.26% |
| Standard deviation | 0.53% | 0.49% |
| Sharpe ratio | 2.27 | 4.06 |
| Sortino ratio | 3.94 | 7.01 |
| Maximum drawdown | −0.8% (24-03-2020) | −0.1% (22-10-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 03-01-2013 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.
Bank of India Ultra Short Term Fund (Direct)
Nippon India CRISIL-IBX Financial Services 3-6 Months Debt Index Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Bank of India Ultra Short Term Fund (Direct) | −0.1% | 13-10-2026 | 22-10-2026 | 27-10-2026 | 5 days | 0.0% |
| Nippon India CRISIL-IBX Financial Services 3-6 Months Debt Index Fund (Direct) | −0.1% | 13-10-2026 | 22-10-2026 | 27-10-2026 | 5 days | 0.0% |
From daily values since 13-03-2026, the first day every fund has.
Bank of India Ultra Short Term vs Nippon India CRISIL-IBX Financial Services 3-6 Months Debt Index: Portfolio Overlap
From each fund's latest monthly portfolio: Bank of India Ultra Short Term Fund, September 2026; Nippon India CRISIL-IBX Financial Services 3-6 Months Debt Index Fund, September 2026
Holdings in common
- Overlap
- 14.8%
- Held by both
- 3
- Only in Bank of India Ultra Short Term
- 21
- Only in Nippon India CRISIL-IBX Financial Services 3-6 Months Debt Index
- 16
| Security | % of Bank of India Ultra Short Term | % of Nippon India CRISIL-IBX Financial Services 3-6 Months Debt Index |
|---|---|---|
| Union Bank of India (12/03/2027) | 7.43% | 5.60% |
| National Bank For Agriculture and Rural Development (17/03/2027) | 5.44% | 9.32% |
| Axis Bank Limited (12/02/2027) | 4.98% | 3.75% |
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 Bank of India Ultra Short Term Fund
| Security | % of fund |
|---|---|
| 6.27% Power Finance Corporation Limited (15/07/2027) | 7.08% |
| Kotak Mahindra Bank Limited (21/12/2026) | 7.05% |
| 7.59% REC Limited (31/05/2027) | 6.12% |
| Bank of Baroda (11/12/2026) | 5.05% |
| Small Industries Dev Bank of India (05/02/2027) | 4.99% |
Largest holdings only in Nippon India CRISIL-IBX Financial Services 3-6 Months Debt Index Fund
| Security | % of fund |
|---|---|
| Aditya Birla Capital Limited | 13.13% |
| 7.73% LIC Housing Finance Limited | 9.63% |
| 8.04% Bajaj Housing Finance Limited | 9.63% |
| Small Industries Dev Bank of India | 9.36% |
| Mahindra & Mahindra Financial Services Limited | 9.35% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Bank of India Ultra Short Term | Nippon India CRISIL-IBX Financial Services 3-6 Months Debt Index |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 94.5% | 98.5% |
| Cash and others | 5.5% | 1.5% |
Bank of India Ultra Short Term vs Nippon India CRISIL-IBX Financial Services 3-6 Months Debt Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Bank of India Ultra Short Term Fund | Nippon India CRISIL-IBX Financial Services 3-6 Months Debt Index Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.42% | 0.11% |
| Base expense ratio (Direct) | 0.34% | 0.08% |
| Total expense ratio (Regular) | 1.02% | 0.22% |
| Base expense ratio (Regular) | 0.85% | 0.18% |
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 Bank of India Ultra Short Term with
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Bank of India Ultra Short Term Fund vs Nippon India CRISIL-IBX Financial Services 3-6 Months Debt Index Fund: Frequently Asked Questions
What is the difference between Bank of India Ultra Short Term Fund and Nippon India CRISIL-IBX Financial Services 3-6 Months Debt Index Fund?
Bank of India Ultra Short Term Fund is an Ultra Short fund, Nippon India CRISIL-IBX Financial Services 3-6 Months Debt Index Fund is a mutual fund, run by Bank of India Mutual Fund and Nippon India Mutual Fund. Their portfolios overlap 14.8%. Bank of India Ultra Short Term Fund charges 0.42% a year and Nippon India CRISIL-IBX Financial Services 3-6 Months Debt Index Fund 0.11%.
Which has the lower expense ratio, Bank of India Ultra Short Term Fund or Nippon India CRISIL-IBX Financial Services 3-6 Months Debt Index Fund?
Nippon India CRISIL-IBX Financial Services 3-6 Months Debt Index Fund charges less: 0.11% a year against 0.42%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Bank of India Ultra Short Term Fund and Nippon India CRISIL-IBX Financial Services 3-6 Months Debt Index Fund overlap?
14.8%. They hold 3 of the same securities, the largest shared ones being Union Bank of India (12/03/2027), National Bank For Agriculture and Rural Development (17/03/2027), Axis Bank Limited (12/02/2027). From each fund's latest monthly portfolio.
Can I invest in both Bank of India Ultra Short Term Fund and Nippon India CRISIL-IBX Financial Services 3-6 Months Debt Index Fund?
Yes. 14.8% of each fund's money sits in the same holdings, so some of the two investments would move together.
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.