DSP Ultra Short Term Fund vs Nippon India Ultra Short Term Fund
Direct Plan, Growth option · Data as on 30-10-2026
DSP Ultra Short Term Fund and Nippon India Ultra Short Term Fund are both Ultra Short funds. DSP Ultra Short Term Fund charges 0.30% a year and Nippon India Ultra Short Term Fund 0.33% (Direct plans). Their portfolios overlap 15.9%: they hold 21 of the same securities.
Nippon India Ultra Short Term Fund
Ultra Short
- Expense ratio
- 0.33%
- NAV
- ₹4,851.45
Which is better, DSP Ultra Short Term or Nippon 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.
- DSP Ultra Short Term costs less: 0.30% a year against 0.33% (Direct plans).
- Nippon India Ultra Short Term swung less over 3 years: a standard deviation of 0.4% a year against 0.4%.
- DSP Ultra Short Term fell less in its worst fall since 21-05-2018: −1.1% against −5.2%.
- Nippon India Ultra Short Term is the larger fund: ₹11,551 Cr against ₹4,425 Cr.
- Their portfolios overlap 15.9%: 21 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 | DSP Ultra Short Term Fund | Nippon India Ultra Short Term Fund |
|---|---|---|
| Fund house | DSP Mutual Fund | Nippon India Mutual Fund |
| Category | Ultra Short | Ultra Short |
| AUM | ₹4,425 Cr (30-09-2026) | ₹11,551 Cr (30-09-2026) |
| NAV | ₹4,027.55 (Direct) | ₹4,851.45 (Direct) |
| Expense ratio (Direct) | 0.30% | 0.33% |
| Expense ratio (Regular) | 1.01% | 1.05% |
| Riskometer | Low to Moderate | Moderately High |
| Benchmark | CRISIL Ultra Short Duration Debt A-I Index | CRISIL Ultra Short Duration Debt A-I Index |
| Launch date | 31-07-2006 | 07-12-2001 |
| Minimum investment | ₹100 | ₹10,000 |
| Lock in | None | None |
| Fund managers | Shalini Vasanta, Karan Mundhra | Vivek Sharma |
| Exit load | Nil | Nil |
DSP Ultra Short Term vs Nippon 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 |
|---|---|---|---|---|---|---|---|
| DSP Ultra Short Term Fund (Direct) | +0.31% | +1.42% | +3.21% | +6.43% | +7.26% | +6.70% | +6.39% |
| Nippon India Ultra Short Term Fund (Direct) | -- | -- | -- | -- | -- | -- | -- |
| 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.
DSP Ultra Short Term vs Nippon India Ultra Short Term: Year-wise Returns
| Year | DSPDSP Ultra Short Term | Nippon IndiaNippon India Ultra Short Term |
|---|---|---|
| 2026to date | +5.36% | -- |
| 2025 | +7.47% | -- |
| 2024 | +7.69% | -- |
| 2023 | +7.46% | -- |
| 2022 | +4.85% | -- |
| 2021 | +3.60% | -- |
DSP Ultra Short Term vs Nippon India Ultra Short Term: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 1,323 of them, one for each trading day from 21-05-2021 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.
DSP Ultra Short Term Fund (Direct)
Nippon India Ultra Short Term Fund (Direct)
to
Oct 2021Sept 2019
to
Sept 2022Sept 2020
to
Sept 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DSP Ultra Short Term | 0.0 | 25.0 | 75.0 | 0.0 | 0.0 | 0.0 | 0.0 | 6.0% | 5.8% | 4.5% | 7.6% |
| Nippon India Ultra Short Term | 0.0 | 3.4 | 96.6 | 0.0 | 0.0 | 0.0 | 0.0 | 6.8% | 7.1% | 4.8% | 7.8% |
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 21-05-2018. Past returns do not promise future returns.
DSP Ultra Short Term vs Nippon 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 02-05-2018 to 30-10-2026: 102 instalments, ₹10,20,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| DSP Ultra Short TermDSP Ultra Short Term Fund (Direct) | ₹10,20,000 | ₹13,51,792 | ₹3,31,792 | 6.5% |
| Nippon India Ultra Short TermNippon India Ultra Short Term Fund (Direct) | ₹10,20,000 | ₹13,81,520 | ₹3,61,520 | 7.0% |
DSP Ultra Short TermDSP Ultra Short Term Fund (Direct)
Nippon India Ultra Short TermNippon 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.
DSP Ultra Short Term vs Nippon India Ultra Short Term: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | DSP Ultra Short Term Fund (Direct) | Nippon India Ultra Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.43% | +6.77% |
| Standard deviation | 0.49% | 0.44% |
| Sharpe ratio | 2.43 | 3.48 |
| Sortino ratio | 3.95 | 6.02 |
| Maximum drawdown | −0.1% (23-10-2026) | −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 | DSP Ultra Short Term Fund (Direct) | Nippon India Ultra Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.26% | +7.50% |
| Standard deviation | 0.39% | 0.38% |
| Sharpe ratio | 3.15 | 3.92 |
| Sortino ratio | 5.97 | 8.05 |
| Maximum drawdown | −0.1% (23-10-2026) | −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 | DSP Ultra Short Term Fund (Direct) | Nippon India Ultra Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.70% | +7.01% |
| Standard deviation | 0.38% | 0.37% |
| Sharpe ratio | 2.38 | 3.30 |
| Sortino ratio | 4.33 | 6.31 |
| Maximum drawdown | −0.2% (06-05-2022) | −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 | DSP Ultra Short Term Fund (Direct) | Nippon India Ultra Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.10% | +6.58% |
| Standard deviation | 0.58% | 2.03% |
| Sharpe ratio | 1.83 | 0.64 |
| Sortino ratio | 2.53 | 0.74 |
| Maximum drawdown | −1.1% (18-12-2018) | −5.2% (25-09-2019) |
| 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.
DSP Ultra Short Term Fund (Direct)
Nippon 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 |
|---|---|---|---|---|---|---|
| DSP Ultra Short Term Fund (Direct) | −1.1% | 17-12-2018 | 18-12-2018 | 04-02-2019 | 48 days | 0.0% |
| Nippon India Ultra Short Term Fund (Direct) | −5.2% | 12-09-2019 | 25-09-2019 | 01-06-2020 | 8 months | 0.0% |
From daily values since 21-05-2018, 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.
DSP Ultra Short Term Fund (Direct)
Nippon 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.
DSP Ultra Short Term Fund (Direct)
Nippon 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.
DSP Ultra Short Term Fund (Direct)
Nippon India Ultra Short Term Fund (Direct)
DSP Ultra Short Term vs Nippon India Ultra Short Term: Portfolio Overlap
From each fund's latest monthly portfolio: DSP Ultra Short Term Fund, September 2026; Nippon India Ultra Short Term Fund, September 2026
Holdings in common
- Overlap
- 15.9%
- Held by both
- 21
- Only in DSP Ultra Short Term
- 71
- Only in Nippon India Ultra Short Term
- 96
| Security | % of DSP Ultra Short Term | % of Nippon India Ultra Short Term |
|---|---|---|
| Small Industries Development Bank of India | 3.76% | 2.18% |
| Aditya Birla Renewables Limited | 1.70% | 2.16% |
| National Bank For Agriculture & Rural Development | 2.04% | 1.21% |
| Nuvama Wealth and Investment Limited | 1.21% | 1.30% |
| Adani Power Limited | 0.90% | 1.21% |
| 360 One Prime Limited | 1.73% | 0.87% |
| Nuvama Wealth Finance Limited | 1.15% | 0.87% |
| HDFC Bank Limited | 1.10% | 0.84% |
| Piramal Finance Limited | 0.93% | 0.83% |
| HDFC Bank Limited | 1.66% | 0.63% |
| REC Limited | 0.58% | 0.65% |
| Canara Bank | 0.55% | 1.69% |
| Small Industries Development Bank of India | 0.55% | 1.26% |
| Small Industries Development Bank of India | 0.53% | 0.81% |
| National Bank For Agriculture & Rural Development | 0.56% | 0.47% |
| Canara Bank | 4.94% | 0.42% |
| Punjab National Bank | 1.10% | 0.42% |
| National Bank For Agriculture & Rural Development | 1.10% | 0.42% |
| National Bank For Agriculture & Rural Development | 0.59% | 0.30% |
| SBI Funds Management Pvt Limited/Fund Parent | 0.26% | 0.27% |
| Piramal Finance Limited | 0.12% | 0.43% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 15.9% means 15.9% 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 DSP Ultra Short Term Fund
| Security | % of fund |
|---|---|
| Export-Import Bank Of India | 2.76% |
| National Bank For Agriculture & Rural Development | 2.21% |
| Federal Bank Limited | 2.20% |
| 182 DAYS T-BILL 18032027 | 2.20% |
| HDFC Bank Limited | 2.20% |
Largest holdings only in Nippon India Ultra Short Term Fund
| Security | % of fund |
|---|---|
| 8.5% Nirma Limited | 3.00% |
| 9.4% Vedanta Aluminium Metal Limited | 2.78% |
| National Bank For Agriculture and Rural Development | 2.73% |
| Punjab National Bank | 2.54% |
| HDFC Bank Limited | 2.52% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | DSP Ultra Short Term | Nippon India Ultra Short Term |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 100.2% | 97.4% |
| Cash and others | -0.2% | 2.6% |
DSP Ultra Short Term vs Nippon India Ultra Short Term: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | DSP Ultra Short Term Fund | Nippon India Ultra Short Term Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.30% | 0.33% |
| Base expense ratio (Direct) | 0.25% | 0.28% |
| Total expense ratio (Regular) | 1.01% | 1.05% |
| Base expense ratio (Regular) | 0.86% | 0.89% |
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
DSP Ultra Short Term Fund vs Nippon India Ultra Short Term Fund: Frequently Asked Questions
What is the difference between DSP Ultra Short Term Fund and Nippon India Ultra Short Term Fund?
Both are Ultra Short funds, run by DSP Mutual Fund and Nippon India Mutual Fund. Their portfolios overlap 15.9%. DSP Ultra Short Term Fund charges 0.30% a year and Nippon India Ultra Short Term Fund 0.33%.
Which has the lower expense ratio, DSP Ultra Short Term Fund or Nippon India Ultra Short Term Fund?
DSP Ultra Short Term Fund charges less: 0.30% a year against 0.33%. These are the Direct plans' total expense ratios reported to AMFI.
How much do DSP Ultra Short Term Fund and Nippon India Ultra Short Term Fund overlap?
15.9%. They hold 21 of the same securities, the largest shared ones being Small Industries Development Bank of India, Aditya Birla Renewables Limited, National Bank For Agriculture & Rural Development. From each fund's latest monthly portfolio.
Which is riskier, DSP Ultra Short Term Fund or Nippon India Ultra Short Term Fund?
On SEBI's riskometer, DSP Ultra Short Term Fund is rated Low to Moderate and Nippon India Ultra Short Term Fund Moderately High. Over 3 years, the standard deviation of daily returns was 0.39% and 0.38% a year.
Which is better for SIP, DSP Ultra Short Term Fund or Nippon 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 ₹7,30,776 in DSP Ultra Short Term Fund (XIRR 7.1% a year) and ₹7,35,302 in Nippon India Ultra Short Term Fund (XIRR 7.3% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both DSP Ultra Short Term Fund and Nippon India Ultra Short Term Fund?
Yes. 15.9% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages DSP Ultra Short Term Fund and Nippon India Ultra Short Term Fund?
DSP Ultra Short Term Fund: Shalini Vasanta, Karan Mundhra. Nippon India Ultra Short Term Fund: Vivek Sharma.
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.