Franklin India Ultra Short Term Fund vs ITI Banking & PSU Debt Fund
Direct Plan, Growth option · Data as on 30-10-2026
Franklin India Ultra Short Term Fund is an Ultra Short fund and ITI Banking & PSU Debt Fund is a Banking & PSU fund. In the year to 30-10-2026, Franklin India Ultra Short Term Fund (Direct) returned 6.3% and ITI Banking & PSU Debt Fund (Direct) returned 4.1%. Franklin India Ultra Short Term Fund charges 0.29% a year and ITI Banking & PSU Debt Fund 0.23% (Direct plans). Their portfolios overlap 20.4%: they hold 4 of the same securities.
Franklin India Ultra Short Term Fund
Ultra Short
- 1 year return
- 6.3%
- Expense ratio
- 0.29%
- NAV
- ₹11.60
ITI Banking & PSU Debt Fund
Banking & PSU
- 1 year return
- 4.1%
- Expense ratio
- 0.23%
- NAV
- ₹14.21
Which is better, Franklin India Ultra Short Term or ITI 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.
- Franklin India Ultra Short Term returned more over 1 year: 6.3% against 4.1%.
- ITI Banking & PSU Debt costs less: 0.23% a year against 0.29% (Direct plans).
- Franklin India Ultra Short Term fell less in its worst fall since 29-08-2024: −0.1% against −0.4%.
- Franklin India Ultra Short Term is the larger fund: ₹300 Cr against ₹34 Cr.
- Their portfolios overlap 20.4%: 4 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 | Franklin India Ultra Short Term Fund | ITI Banking & PSU Debt Fund |
|---|---|---|
| Fund house | Franklin Templeton Mutual Fund | ITI Mutual Fund |
| Category | Ultra Short | Banking & PSU |
| AUM | ₹300 Cr (30-09-2026) | ₹34 Cr (30-09-2026) |
| NAV | ₹11.60 (Direct) | ₹14.21 (Direct) |
| Expense ratio (Direct) | 0.29% | 0.23% |
| Expense ratio (Regular) | 0.72% | 0.75% |
| Riskometer | Not available | Low to Moderate |
| Benchmark | Not available | CRISIL Banking and PSU Debt A-II Index |
| Launch date | Not available | 22-10-2020 |
| Minimum investment | Not available | ₹5,000 |
| Lock in | Not available | None |
| Fund managers | Not available | Laukik Bagwe |
| Exit load | Not available | Nil |
Franklin India Ultra Short Term vs ITI 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 |
|---|---|---|---|---|---|---|---|
| Franklin India Ultra Short Term Fund (Direct) | +0.35% | +1.45% | +3.15% | +6.29% | -- | -- | -- |
| ITI Banking & PSU Debt Fund (Direct) | −0.14% | +0.35% | +1.96% | +4.10% | +6.79% | +6.27% | -- |
| Ultra Short average | +0.30% | +1.34% | +3.06% | +6.00% | -- | -- | -- |
| Banking & PSU average | −0.21% | +0.14% | +2.36% | +4.04% | +6.88% | +6.22% | -- |
Category average: the average of the 26 Ultra Short funds and the 19 Banking & PSU funds, same plan type.
Franklin India Ultra Short Term vs ITI Banking & PSU Debt: Year-wise Returns
| Year | Franklin India Ultra Short TermFranklin India Ultra Short Term | ITI Banking & PSU DebtITI Banking & PSU Debt |
|---|---|---|
| 2026to date | +5.24% | +3.39% |
| 2025 | +7.49% | +7.41% |
| 2024 | -- | +8.21% |
| 2023 | -- | +6.88% |
| 2022 | -- | +4.82% |
| 2021 | -- | +4.21% |
Franklin India Ultra Short Term vs ITI Banking & PSU Debt: Rolling Returns
Every holding period of both funds
Rolling returns
Every 1-year holding period, 282 of them, one for each trading day from 29-08-2025 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.
Franklin India Ultra Short Term Fund (Direct)
ITI Banking & PSU Debt Fund (Direct)
to
Oct 2025Dec 2024
to
Dec 2025Feb 2025
to
Feb 2026May 2025
to
May 2026Jul 2025
to
Jul 2026Sept 2025
to
Sept 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Franklin India Ultra Short Term | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7.0% | 6.9% | 6.3% | 7.9% |
| ITI Banking & PSU Debt | 0.0 | 17.4 | 82.6 | 0.0 | 0.0 | 0.0 | 0.0 | 6.3% | 5.9% | 4.0% | 8.2% |
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 29-08-2024. Past returns do not promise future returns.
Franklin India Ultra Short Term vs ITI 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 29-08-2024 to 30-10-2026: 27 instalments, ₹2,70,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Franklin India Ultra Short TermFranklin India Ultra Short Term Fund (Direct) | ₹2,70,000 | ₹2,91,313 | ₹21,313 | 6.7% |
| ITI Banking & PSU DebtITI Banking & PSU Debt Fund (Direct) | ₹2,70,000 | ₹2,86,314 | ₹16,314 | 5.1% |
Franklin India Ultra Short TermFranklin India Ultra Short Term Fund (Direct)
ITI Banking & PSU DebtITI 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.
Franklin India Ultra Short Term vs ITI Banking & PSU Debt: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Franklin India Ultra Short Term Fund (Direct) | ITI Banking & PSU Debt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.29% | +4.10% |
| Standard deviation | 0.44% | 0.85% |
| Sharpe ratio | 2.36 | -1.35 |
| Sortino ratio | 3.85 | -1.77 |
| Maximum drawdown | −0.1% (08-07-2026) | −0.4% (23-10-2026) |
| 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 | Franklin India Ultra Short Term Fund (Direct) | ITI Banking & PSU Debt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.07% | +6.01% |
| Standard deviation | 0.41% | 0.74% |
| Sharpe ratio | 3.29 | 0.88 |
| Sortino ratio | 6.25 | 1.32 |
| Maximum drawdown | −0.1% (08-07-2026) | −1.1% (09-02-2021) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 29-08-2024 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.
Franklin India Ultra Short Term Fund (Direct)
ITI Banking & PSU Debt Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Franklin India Ultra Short Term Fund (Direct) | −0.1% | 06-07-2026 | 08-07-2026 | 13-07-2026 | 5 days | 0.0% |
| ITI Banking & PSU Debt Fund (Direct) | −0.4% | 22-09-2026 | 23-10-2026 | Not yet | -- | −0.3% |
From daily values since 29-08-2024, 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.
Franklin India Ultra Short Term Fund (Direct)
ITI Banking & PSU Debt Fund (Direct)
Franklin India Ultra Short Term vs ITI Banking & PSU Debt: Portfolio Overlap
From each fund's latest monthly portfolio: Franklin India Ultra Short Term Fund, September 2026; ITI Banking & PSU Debt Fund, September 2026
Holdings in common
- Overlap
- 20.4%
- Held by both
- 4
- Only in Franklin India Ultra Short Term
- 12
- Only in ITI Banking & PSU Debt
- 9
| Security | % of Franklin India Ultra Short Term | % of ITI Banking & PSU Debt |
|---|---|---|
| 7.71% REC Ltd (26-Feb-2027) | 8.74% | 8.85% |
| 7.59% National Housing Bank (08-Sep-2027) | 8.53% | 8.85% |
| Bank of Baroda (05-Mar-2027) | 8.11% | 2.86% |
| Corporate Debt Market Development Fund Class A2 | 0.29% | 0.32% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 20.4% means 20.4% 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 Franklin India Ultra Short Term Fund
| Security | % of fund |
|---|---|
| 7.70% Sundaram Home Finance Ltd (26-Mar-2027) | 8.68% |
| National Bank For Agriculture & Rural Development (28-Jan-2027) | 8.16% |
| Small Industries Development Bank of India (28-Jan-2027) | 8.16% |
| Canara Bank (04-Mar-2027) | 8.11% |
| HDFC Bank Ltd (09-Mar-2027) | 8.10% |
Largest holdings only in ITI Banking & PSU Debt Fund
| Security | % of fund |
|---|---|
| 8.14% Nuclear Power Corporation Of India Limited (25/03/2028) | 8.93% |
| 7.33% Indian Railway Finance Corporation Limited (27/08/2027) | 8.82% |
| HDFC Bank Limited (22/01/2027) | 8.66% |
| 7.79% Small Industries Dev Bank of India (19/04/2027) | 7.38% |
| 7.23% Power Finance Corporation Limited (05/01/2027) | 7.37% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Franklin India Ultra Short Term | ITI Banking & PSU Debt |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 89.7% | 81.4% |
| Cash and others | 10.3% | 18.6% |
Franklin India Ultra Short Term vs ITI Banking & PSU Debt: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Franklin India Ultra Short Term Fund | ITI Banking & PSU Debt Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.29% | 0.23% |
| Base expense ratio (Direct) | 0.24% | 0.18% |
| Total expense ratio (Regular) | 0.72% | 0.75% |
| Base expense ratio (Regular) | 0.61% | 0.63% |
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 Franklin India Ultra Short Term with
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- Franklin India Ultra Short Term vs ICICI Prudential Ultra Short Term
Franklin India Ultra Short Term Fund vs ITI Banking & PSU Debt Fund: Frequently Asked Questions
What is the difference between Franklin India Ultra Short Term Fund and ITI Banking & PSU Debt Fund?
Franklin India Ultra Short Term Fund is an Ultra Short fund, ITI Banking & PSU Debt Fund is a Banking & PSU fund, run by Franklin Templeton Mutual Fund and ITI Mutual Fund. Their portfolios overlap 20.4%. Franklin India Ultra Short Term Fund charges 0.29% a year and ITI Banking & PSU Debt Fund 0.23%.
Which has given higher returns, Franklin India Ultra Short Term Fund or ITI Banking & PSU Debt Fund?
Over 1 year: Franklin India Ultra Short Term Fund +6.29%, ITI Banking & PSU Debt Fund +4.10%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Franklin India Ultra Short Term Fund or ITI Banking & PSU Debt Fund?
ITI Banking & PSU Debt Fund charges less: 0.23% a year against 0.29%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Franklin India Ultra Short Term Fund and ITI Banking & PSU Debt Fund overlap?
20.4%. They hold 4 of the same securities, the largest shared ones being 7.71% REC Ltd (26-Feb-2027), 7.59% National Housing Bank (08-Sep-2027), Bank of Baroda (05-Mar-2027). From each fund's latest monthly portfolio.
Can I invest in both Franklin India Ultra Short Term Fund and ITI Banking & PSU Debt Fund?
Yes. 20.4% 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.