DSP Ultra Short to Short Term Fund vs HDFC Ultra Short to Short Term Fund
Direct Plan, Growth option · Data as on 30-10-2026
DSP Ultra Short to Short Term Fund and HDFC Ultra Short to Short Term Fund are both Low Duration funds. In the 3 years to 30-10-2026, DSP Ultra Short to Short Term Fund (Direct) returned 7.0% a year and HDFC Ultra Short to Short Term Fund (Direct) returned 7.3% a year. DSP Ultra Short to Short Term Fund charges 0.31% a year and HDFC Ultra Short to Short Term Fund 0.46% (Direct plans). Their portfolios overlap 7.9%: they hold 18 of the same securities.
DSP Ultra Short to Short Term Fund
Low Duration
- 3 year return
- 7.0%
- Expense ratio
- 0.31%
- NAV
- ₹22.09
HDFC Ultra Short to Short Term Fund
Low Duration
- 3 year return
- 7.3%
- Expense ratio
- 0.46%
- NAV
- ₹67.76
Which is better, DSP Ultra Short to Short Term or HDFC Ultra Short to 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.
- HDFC Ultra Short to Short Term returned more over 5 years: 6.7% a year against 6.4%.
- HDFC Ultra Short to Short Term returned more over 3 years: 7.3% a year against 7.0%.
- DSP Ultra Short to Short Term costs less: 0.31% a year against 0.46% (Direct plans).
- DSP Ultra Short to Short Term swung less over 3 years: a standard deviation of 0.5% a year against 0.5%.
- HDFC Ultra Short to Short Term fell less in its worst fall since 11-03-2015: −1.3% against −1.5%.
- HDFC Ultra Short to Short Term is the larger fund: ₹16,513 Cr against ₹4,455 Cr.
- Their portfolios overlap 7.9%: 18 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 to Short Term Fund | HDFC Ultra Short to Short Term Fund |
|---|---|---|
| Fund house | DSP Mutual Fund | HDFC Mutual Fund |
| Category | Low Duration | Low Duration |
| AUM | ₹4,455 Cr (30-09-2026) | ₹16,513 Cr (30-09-2026) |
| NAV | ₹22.09 (Direct) | ₹67.76 (Direct) |
| Expense ratio (Direct) | 0.31% | 0.46% |
| Expense ratio (Regular) | 0.63% | 1.03% |
| Riskometer | Low to Moderate | Moderate |
| Benchmark | NIFTY Low Duration Debt Index A-I | NIFTY Low Duration Debt Index A-I |
| Launch date | 10-03-2015 | 18-11-1999 |
| Minimum investment | ₹100 | ₹100 |
| Lock in | None | None |
| Fund managers | Karan Mundhra, Shalini Vasanta | Anupam Joshi, Gopal Agrawal, Praveen Jain |
| Exit load | Nil | NIL |
DSP Ultra Short to Short Term vs HDFC Ultra Short to 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 to Short Term Fund (Direct) | +0.10% | +0.97% | +2.78% | +5.47% | +6.98% | +6.42% | +6.70% |
| HDFC Ultra Short to Short Term Fund (Direct) | +0.13% | +1.02% | +2.83% | +5.70% | +7.26% | +6.71% | +7.04% |
| Low Duration average | +0.18% | +1.12% | +2.95% | +5.79% | +7.22% | +6.58% | +6.73% |
Category average: the average of the 25 Low Duration funds, same plan type.
DSP Ultra Short to Short Term vs HDFC Ultra Short to Short Term: Year-wise Returns
| Year | DSPDSP Ultra Short to Short Term | HDFCHDFC Ultra Short to Short Term |
|---|---|---|
| 2026to date | +4.51% | +4.69% |
| 2025 | +7.46% | +7.82% |
| 2024 | +7.75% | +8.05% |
| 2023 | +7.24% | +7.68% |
| 2022 | +4.51% | +4.75% |
| 2021 | +3.76% | +4.31% |
DSP Ultra Short to Short Term vs HDFC Ultra Short to Short Term: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 2,097 of them, one for each trading day from 12-03-2018 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 to Short Term Fund (Direct)
HDFC Ultra Short to Short Term Fund (Direct)
to
Nov 2018May 2017
to
May 2020Oct 2018
to
Oct 2021Apr 2020
to
Apr 2023Oct 2021
to
Oct 2024Feb 2023
to
Feb 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 to Short Term | 0.0 | 5.6 | 94.4 | 0.0 | 0.0 | 0.0 | 0.0 | 6.8% | 7.2% | 4.8% | 8.2% |
| HDFC Ultra Short to Short Term | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7.2% | 7.6% | 5.5% | 8.3% |
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 11-03-2015. Past returns do not promise future returns.
DSP Ultra Short to Short Term vs HDFC Ultra Short to 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 11-03-2015 to 30-10-2026: 140 instalments, ₹14,00,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| DSP Ultra Short to Short TermDSP Ultra Short to Short Term Fund (Direct) | ₹14,00,000 | ₹20,88,461 | ₹6,88,461 | 6.6% |
| HDFC Ultra Short to Short TermHDFC Ultra Short to Short Term Fund (Direct) | ₹14,00,000 | ₹21,36,618 | ₹7,36,618 | 7.0% |
DSP Ultra Short to Short TermDSP Ultra Short to Short Term Fund (Direct)
HDFC Ultra Short to Short TermHDFC Ultra Short to 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 to Short Term vs HDFC Ultra Short to 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 to Short Term Fund (Direct) | HDFC Ultra Short to Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.47% | +5.70% |
| Standard deviation | 0.66% | 0.66% |
| Sharpe ratio | 0.34 | 0.69 |
| Sortino ratio | 0.49 | 1.00 |
| Maximum drawdown | −0.3% (21-05-2026) | −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 | DSP Ultra Short to Short Term Fund (Direct) | HDFC Ultra Short to Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.98% | +7.26% |
| Standard deviation | 0.50% | 0.52% |
| Sharpe ratio | 1.90 | 2.38 |
| Sortino ratio | 3.07 | 3.96 |
| Maximum drawdown | −0.3% (21-05-2026) | −0.3% (21-05-2026) |
| 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 to Short Term Fund (Direct) | HDFC Ultra Short to Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.42% | +6.71% |
| Standard deviation | 0.47% | 0.51% |
| Sharpe ratio | 1.31 | 1.77 |
| Sortino ratio | 2.03 | 2.74 |
| Maximum drawdown | −0.3% (06-05-2022) | −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 | DSP Ultra Short to Short Term Fund (Direct) | HDFC Ultra Short to Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.03% | +7.59% |
| Standard deviation | 0.92% | 0.73% |
| Sharpe ratio | 1.54 | 2.10 |
| Sortino ratio | 2.44 | 3.48 |
| Maximum drawdown | −1.5% (04-06-2019) | −1.3% (24-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 11-03-2015 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 to Short Term Fund (Direct)
HDFC Ultra Short to 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 to Short Term Fund (Direct) | −1.5% | 03-06-2019 | 04-06-2019 | 03-07-2019 | 29 days | −0.0% |
| HDFC Ultra Short to Short Term Fund (Direct) | −1.3% | 06-03-2020 | 24-03-2020 | 27-03-2020 | 3 days | −0.1% |
From daily values since 11-03-2015, 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 to Short Term Fund (Direct)
HDFC Ultra Short to 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 to Short Term Fund (Direct)
HDFC Ultra Short to 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 to Short Term Fund (Direct)
HDFC Ultra Short to Short Term Fund (Direct)
DSP Ultra Short to Short Term vs HDFC Ultra Short to Short Term: Portfolio Overlap
From each fund's latest monthly portfolio: DSP Ultra Short to Short Term Fund, September 2026; HDFC Ultra Short to Short Term Fund, September 2026
Holdings in common
- Overlap
- 7.9%
- Held by both
- 18
- Only in DSP Ultra Short to Short Term
- 76
- Only in HDFC Ultra Short to Short Term
- 120
| Security | % of DSP Ultra Short to Short Term | % of HDFC Ultra Short to Short Term |
|---|---|---|
| Bajaj Housing Finance Limited | 2.29% | 2.27% |
| National Bank For Agriculture & Rural Development | 1.16% | 3.89% |
| National Bank For Agriculture & Rural Development | 0.59% | 1.06% |
| REC Limited | 0.58% | 0.60% |
| Small Industries Development Bank of India | 0.53% | 0.57% |
| National Bank For Agriculture & Rural Development | 1.46% | 0.45% |
| Power Finance Corporation Limited | 0.45% | 0.60% |
| SBI Funds Management Pvt Limited/Fund Parent | 0.41% | 0.43% |
| Bharti Telecom Limited | 1.30% | 0.30% |
| National Bank For Agriculture & Rural Development | 2.92% | 0.20% |
| Small Industries Development Bank Of India | 1.78% | 0.15% |
| REC Limited | 1.17% | 0.15% |
| REC Limited | 1.16% | 0.15% |
| Bajaj Housing Finance Limited | 1.13% | 0.15% |
| REC Limited | 0.58% | 0.15% |
| 7.39% Tamil Nadu SDL 09112026 | 1.74% | 0.13% |
| Small Industries Development Bank Of India | 1.11% | 0.06% |
| 7.24% Gujarat SDL 28122026 | 0.57% | 0.03% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 7.9% means 7.9% 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 to Short Term Fund
| Security | % of fund |
|---|---|
| Bharti Telecom Limited | 4.05% |
| 6.38% Maharashtra SDL 25082027 | 3.39% |
| Small Industries Development Bank Of India | 2.88% |
| REC Limited | 2.85% |
| REC Limited | 2.28% |
Largest holdings only in HDFC Ultra Short to Short Term Fund
| Security | % of fund |
|---|---|
| Small Industries Development Bank | 5.55% |
| Floating Rate GOI 2028 | 4.72% |
| Jubilant Beverages Limited | 4.05% |
| Floating Rate GOI 2033 | 3.16% |
| National Housing Bank | 2.86% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | DSP Ultra Short to Short Term | HDFC Ultra Short to Short Term |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 99.3% | 97.9% |
| Cash and others | 0.7% | 2.1% |
DSP Ultra Short to Short Term vs HDFC Ultra Short to Short Term: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | DSP Ultra Short to Short Term Fund | HDFC Ultra Short to Short Term Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.31% | 0.46% |
| Base expense ratio (Direct) | 0.25% | 0.39% |
| Total expense ratio (Regular) | 0.63% | 1.03% |
| Base expense ratio (Regular) | 0.52% | 0.87% |
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 DSP Ultra Short to Short Term with
- DSP Ultra Short to Short Term vs HSBC Ultra Short to Short Term
- DSP Ultra Short to Short Term vs Nippon India Ultra Short to Short Term
- DSP Ultra Short to Short Term vs Axis Ultra Short to Short Term
- DSP Ultra Short to Short Term vs Kotak Ultra Short to Short Term
- DSP Ultra Short to Short Term vs Mirae Asset Ultra Short to Short Term
Compare HDFC Ultra Short to Short Term with
- HDFC Ultra Short to Short Term vs HSBC Ultra Short to Short Term
- HDFC Ultra Short to Short Term vs Nippon India Ultra Short to Short Term
- HDFC Ultra Short to Short Term vs Axis Ultra Short to Short Term
- HDFC Ultra Short to Short Term vs Kotak Ultra Short to Short Term
- HDFC Ultra Short to Short Term vs Mirae Asset Ultra Short to Short Term
DSP Ultra Short to Short Term Fund vs HDFC Ultra Short to Short Term Fund: Frequently Asked Questions
What is the difference between DSP Ultra Short to Short Term Fund and HDFC Ultra Short to Short Term Fund?
Both are Low Duration funds, run by DSP Mutual Fund and HDFC Mutual Fund. Their portfolios overlap 7.9%. DSP Ultra Short to Short Term Fund charges 0.31% a year and HDFC Ultra Short to Short Term Fund 0.46%.
Which has given higher returns, DSP Ultra Short to Short Term Fund or HDFC Ultra Short to Short Term Fund?
Over 1 year: DSP Ultra Short to Short Term Fund +5.47%, HDFC Ultra Short to Short Term Fund +5.70%. Over 3 years: DSP Ultra Short to Short Term Fund +6.98% a year, HDFC Ultra Short to Short Term Fund +7.26% a year. Over 5 years: DSP Ultra Short to Short Term Fund +6.42% a year, HDFC Ultra Short to Short Term Fund +6.71% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, DSP Ultra Short to Short Term Fund or HDFC Ultra Short to Short Term Fund?
DSP Ultra Short to Short Term Fund charges less: 0.31% a year against 0.46%. These are the Direct plans' total expense ratios reported to AMFI.
How much do DSP Ultra Short to Short Term Fund and HDFC Ultra Short to Short Term Fund overlap?
7.9%. They hold 18 of the same securities, the largest shared ones being Bajaj Housing Finance Limited, National Bank For Agriculture & Rural Development, National Bank For Agriculture & Rural Development. From each fund's latest monthly portfolio.
Which is riskier, DSP Ultra Short to Short Term Fund or HDFC Ultra Short to Short Term Fund?
On SEBI's riskometer, DSP Ultra Short to Short Term Fund is rated Low to Moderate and HDFC Ultra Short to Short Term Fund Moderate. Over 3 years, the standard deviation of daily returns was 0.50% and 0.52% a year.
Which is better for SIP, DSP Ultra Short to Short Term Fund or HDFC Ultra Short to Short Term Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,24,108 in DSP Ultra Short to Short Term Fund (XIRR 6.7% a year) and ₹7,29,829 in HDFC Ultra Short to Short Term Fund (XIRR 7.0% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both DSP Ultra Short to Short Term Fund and HDFC Ultra Short to Short Term Fund?
Yes. 7.9% of each fund's money sits in the same holdings, so the two hold mostly different investments.
Who manages DSP Ultra Short to Short Term Fund and HDFC Ultra Short to Short Term Fund?
DSP Ultra Short to Short Term Fund: Karan Mundhra, Shalini Vasanta. HDFC Ultra Short to Short Term Fund: Anupam Joshi, Gopal Agrawal, Praveen Jain.
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.