HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund vs Tata Ultra Short Term Fund
Direct Plan, Growth option · Data as on 30-10-2026
HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund is an Index fund and Tata Ultra Short Term Fund is an Ultra Short fund. In the year to 30-10-2026, HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund (Direct) returned 6.9% and Tata Ultra Short Term Fund (Direct) returned 6.8%. HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund charges 0.09% a year and Tata Ultra Short Term Fund 0.33% (Direct plans). Their portfolios overlap 16.5%: they hold 6 of the same securities.
HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund
Index
- 1 year return
- 6.9%
- Expense ratio
- 0.09%
- NAV
- ₹11.05
Tata Ultra Short Term Fund
Ultra Short
- 1 year return
- 6.8%
- Expense ratio
- 0.33%
- NAV
- ₹16.27
Which is better, HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index or Tata 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.
- HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index returned more over 1 year: 6.9% against 6.8%.
- HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index costs less: 0.09% a year against 0.33% (Direct plans).
- Tata Ultra Short Term fell less in its worst fall since 06-05-2025: −0.1% against −0.1%.
- Tata Ultra Short Term is the larger fund: ₹5,404 Cr against ₹1,972 Cr.
- Their portfolios overlap 16.5%: 6 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 | HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund | Tata Ultra Short Term Fund |
|---|---|---|
| Fund house | HDFC Mutual Fund | Tata Mutual Fund |
| Category | Index | Ultra Short |
| AUM | ₹1,972 Cr (30-09-2026) | ₹5,404 Cr (30-09-2026) |
| NAV | ₹11.05 (Direct) | ₹16.27 (Direct) |
| Expense ratio (Direct) | 0.09% | 0.33% |
| Expense ratio (Regular) | 0.25% | 1.11% |
| Riskometer | Low to Moderate | Moderate |
| Benchmark | CRISIL-IBX Financial Services 3-6 Months Debt Index | CRISIL Ultra Short Duration Debt A-I Index |
| Launch date | 06-05-2025 | 22-01-2019 |
| Minimum investment | ₹100 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Anupam Joshi | Dhawal Joshi, Amit Somani |
| Exit load | NIL | NIL |
HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index vs Tata 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 |
|---|---|---|---|---|---|---|---|
| HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund (Direct) | +0.34% | +1.49% | +3.41% | +6.90% | -- | -- | -- |
| Tata Ultra Short Term Fund (Direct) | +0.39% | +1.59% | +3.46% | +6.84% | +7.44% | +6.82% | -- |
| Ultra Short average | +0.30% | +1.34% | +3.06% | +6.00% | +6.82% | +6.27% | -- |
Category average: the average of the 26 Ultra Short funds, same plan type.
HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index vs Tata Ultra Short Term: Year-wise Returns
| Year | HDFC CRISIL-IBX Financial Services 3-6 Months Debt IndexHDFC CRISIL-IBX Financial Services 3-6 Months Debt Index | Tata Ultra Short TermTata Ultra Short Term |
|---|---|---|
| 2026to date | +5.72% | +5.71% |
| 2025 | -- | +7.47% |
| 2024 | -- | +7.88% |
| 2023 | -- | +7.40% |
| 2022 | -- | +4.93% |
| 2021 | -- | +3.89% |
HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index vs Tata Ultra Short Term: Rolling Returns
Every holding period of both funds
Rolling returns
Every 1-year holding period, 120 of them, one for each trading day from 06-05-2026 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.
HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund (Direct)
Tata Ultra Short Term Fund (Direct)
to
May 2026Jun 2025
to
Jun 2026Jul 2025
to
Jul 2026Aug 2025
to
Aug 2026Sept 2025
to
Sept 2026Oct 2025
to
Oct 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7.0% | 7.0% | 6.7% | 7.3% |
| Tata Ultra Short Term | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 6.9% | 6.9% | 6.5% | 7.2% |
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 06-05-2025. Past returns do not promise future returns.
HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index vs Tata 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 06-05-2025 to 30-10-2026: 18 instalments, ₹1,80,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HDFC CRISIL-IBX Financial Services 3-6 Months Debt IndexHDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund (Direct) | ₹1,80,000 | ₹1,89,708 | ₹9,708 | 6.9% |
| Tata Ultra Short TermTata Ultra Short Term Fund (Direct) | ₹1,80,000 | ₹1,89,705 | ₹9,705 | 6.9% |
HDFC CRISIL-IBX Financial Services 3-6 Months Debt IndexHDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund (Direct)
Tata Ultra Short TermTata 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.
HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index vs Tata Ultra Short Term: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund (Direct) | Tata Ultra Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.90% | +6.84% |
| Standard deviation | 0.42% | 0.45% |
| Sharpe ratio | 3.91 | 3.55 |
| Sortino ratio | 6.98 | 6.36 |
| Maximum drawdown | −0.1% (22-10-2026) | −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 | HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund (Direct) | Tata Ultra Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.93% | +6.46% |
| Standard deviation | 0.39% | 0.46% |
| Sharpe ratio | 4.07 | 2.73 |
| Sortino ratio | 7.66 | 5.60 |
| Maximum drawdown | −0.1% (22-10-2026) | −0.7% (24-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 06-05-2025 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.
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.
HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund (Direct)
Tata Ultra Short Term Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund (Direct) | −0.1% | 19-10-2026 | 22-10-2026 | 29-10-2026 | 7 days | 0.0% |
| Tata Ultra Short Term Fund (Direct) | −0.1% | 06-07-2026 | 08-07-2026 | 13-07-2026 | 5 days | 0.0% |
From daily values since 06-05-2025, 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.
HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund (Direct)
Tata Ultra Short Term Fund (Direct)
HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index vs Tata Ultra Short Term: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund, September 2026; Tata Ultra Short Term Fund, September 2026
Holdings in common
- Overlap
- 16.5%
- Held by both
- 6
- Only in HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index
- 36
- Only in Tata Ultra Short Term
- 41
| Security | % of HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index | % of Tata Ultra Short Term |
|---|---|---|
| National Bank for Agri & Rural Dev. | 5.08% | 4.63% |
| Small Industries Development Bank | 6.03% | 3.96% |
| Canara Bank | 3.72% | 3.17% |
| REC Limited. | 5.08% | 2.32% |
| Punjab National Bank | 1.49% | 2.26% |
| Power Finance Corporation Ltd. | 1.77% | 0.92% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 16.5% means 16.5% 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 HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund
| Security | % of fund |
|---|---|
| Bharti Telecom Limited | 11.18% |
| Aditya Birla Capital ltd. | 6.16% |
| LIC Housing Finance Ltd. | 5.07% |
| LIC Housing Finance Ltd. | 5.07% |
| REC Limited. | 5.07% |
Largest holdings only in Tata Ultra Short Term Fund
| Security | % of fund |
|---|---|
| ** - HDFC BANK LTD - CD - 15/01/2027 | 9.98% |
| ** TREASURY BILL 91 DAYS (05/11/2026) | 5.06% |
| ** - CANARA BANK - CD - 04/03/2027 | 4.95% |
| ** - YES BANK LTD - CD - 05/03/2027 | 4.49% |
| ** - UJJIVAN SMALL FINANCE BANK LTD - CD - 18/03/2027 | 4.02% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index | Tata Ultra Short Term |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 97.8% | 96.5% |
| Cash and others | 2.2% | 3.5% |
HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index vs Tata Ultra Short Term: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund | Tata Ultra Short Term Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.09% | 0.33% |
| Base expense ratio (Direct) | 0.07% | 0.26% |
| Total expense ratio (Regular) | 0.25% | 1.11% |
| Base expense ratio (Regular) | 0.20% | 1.00% |
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
HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund vs Tata Ultra Short Term Fund: Frequently Asked Questions
What is the difference between HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund and Tata Ultra Short Term Fund?
HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund is an Index fund, Tata Ultra Short Term Fund is an Ultra Short fund, run by HDFC Mutual Fund and Tata Mutual Fund. Their portfolios overlap 16.5%. HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund charges 0.09% a year and Tata Ultra Short Term Fund 0.33%.
Which has given higher returns, HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund or Tata Ultra Short Term Fund?
Over 1 year: HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund +6.90%, Tata Ultra Short Term Fund +6.84%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund or Tata Ultra Short Term Fund?
HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund charges less: 0.09% a year against 0.33%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund and Tata Ultra Short Term Fund overlap?
16.5%. They hold 6 of the same securities, the largest shared ones being National Bank for Agri & Rural Dev., Small Industries Development Bank, Canara Bank. From each fund's latest monthly portfolio.
Which is riskier, HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund or Tata Ultra Short Term Fund?
On SEBI's riskometer, HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund is rated Low to Moderate and Tata Ultra Short Term Fund Moderate. Over 1 years, the standard deviation of daily returns was 0.42% and 0.45% a year.
Can I invest in both HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund and Tata Ultra Short Term Fund?
Yes. 16.5% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund and Tata Ultra Short Term Fund?
HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund: Anupam Joshi. Tata Ultra Short Term Fund: Dhawal Joshi, Amit Somani.
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.