HDFC Money Market Fund vs UTI - Money Market Fund
Direct Plan, Growth option · Data as on 30-10-2026
HDFC Money Market Fund and UTI - Money Market Fund are both Money Market funds. In the 3 years to 30-10-2026, HDFC Money Market Fund (Direct) returned 7.3% a year and UTI - Money Market Fund (Direct) returned 7.3% a year. HDFC Money Market Fund charges 0.22% a year and UTI - Money Market Fund 0.17% (Direct plans). Their portfolios overlap 21.0%: they hold 29 of the same securities.
HDFC Money Market Fund
Money Market
- 3 year return
- 7.3%
- Expense ratio
- 0.22%
- NAV
- ₹6,341.47
UTI - Money Market Fund
Money Market
- 3 year return
- 7.3%
- Expense ratio
- 0.17%
- NAV
- ₹3,395.03
Which is better, HDFC Money Market or UTI - Money Market? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- UTI - Money Market returned more over 5 years: 6.8% a year against 6.8%.
- UTI - Money Market returned more over 3 years: 7.3% a year against 7.3%.
- UTI - Money Market costs less: 0.17% a year against 0.22% (Direct plans).
- UTI - Money Market swung less over 3 years: a standard deviation of 0.4% a year against 0.4%.
- UTI - Money Market fell less in its worst fall since 01-01-2013: −0.8% against −1.4%.
- HDFC Money Market is the larger fund: ₹27,624 Cr against ₹16,039 Cr.
- Their portfolios overlap 21.0%: 29 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 Money Market Fund | UTI - Money Market Fund |
|---|---|---|
| Fund house | HDFC Mutual Fund | UTI Mutual Fund |
| Category | Money Market | Money Market |
| AUM | ₹27,624 Cr (30-09-2026) | ₹16,039 Cr (30-09-2026) |
| NAV | ₹6,341.47 (Direct) | ₹3,395.03 (Direct) |
| Expense ratio (Direct) | 0.22% | 0.17% |
| Expense ratio (Regular) | 0.41% | 0.29% |
| Riskometer | Moderate | Moderate |
| Benchmark | CRISIL Money Market A-I Index | CRISIL Money Market A-I Index |
| Launch date | 18-11-1999 | 23-04-1997 |
| Minimum investment | ₹100 | Regular Plan-Quarterly Reinvestment of IDCW- Rs.20000, Regular Plan-Quarterly Payout of IDCW- Rs.20000, Regular Plan-Monthly Reinvestment of IDCW- Rs.20000, Regular Plan-Monthly Payout of IDCW- Rs.20000, Regular Plan-Weekly Reinvestment of IDCW- Rs.20000, |
| Lock in | None | None |
| Fund managers | Praveen Jain, Gopal Agrawal | Anurag Mittal FM 1, Amit Sharma FM 2, Not Applicable FM 3, Not Applicable FM 4 |
| Exit load | NIL | Nil |
HDFC Money Market vs UTI - Money Market: 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 Money Market Fund (Direct) | +0.31% | +1.47% | +3.28% | +6.35% | +7.30% | +6.75% | +6.74% |
| UTI - Money Market Fund (Direct) | +0.32% | +1.50% | +3.31% | +6.33% | +7.30% | +6.77% | +6.71% |
| Money Market average | +0.33% | +1.49% | +3.29% | +6.35% | +7.24% | +6.68% | +6.60% |
Category average: the average of the 27 Money Market funds, same plan type.
HDFC Money Market vs UTI - Money Market: Year-wise Returns
| Year | HDFCHDFC Money Market | UTI -UTI - Money Market |
|---|---|---|
| 2026to date | +5.28% | +5.24% |
| 2025 | +7.55% | +7.57% |
| 2024 | +7.84% | +7.84% |
| 2023 | +7.47% | +7.51% |
| 2022 | +4.93% | +5.00% |
| 2021 | +3.92% | +3.84% |
HDFC Money Market vs UTI - Money Market: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 2,761 of them, one for each trading day from 01-01-2016 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 Money Market Fund (Direct)
UTI - Money Market Fund (Direct)
to
Nov 2016Sept 2015
to
Sept 2018Jul 2017
to
Jul 2020May 2019
to
May 2022Mar 2021
to
Mar 2024Dec 2022
to
Dec 2025
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HDFC Money Market | 0.0 | 0.3 | 99.7 | 0.0 | 0.0 | 0.0 | 0.0 | 7.1% | 7.4% | 5.0% | 8.9% |
| UTI - Money Market | 0.0 | 3.1 | 96.9 | 0.0 | 0.0 | 0.0 | 0.0 | 7.2% | 7.5% | 4.9% | 9.0% |
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 01-01-2013. Past returns do not promise future returns.
HDFC Money Market vs UTI - Money Market: 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 01-01-2013 to 30-10-2026: 166 instalments, ₹16,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HDFC Money MarketHDFC Money Market Fund (Direct) | ₹16,60,000 | ₹27,30,787 | ₹10,70,787 | 6.9% |
| UTI - Money MarketUTI - Money Market Fund (Direct) | ₹16,60,000 | ₹27,25,232 | ₹10,65,232 | 6.9% |
HDFC Money MarketHDFC Money Market Fund (Direct)
UTI - Money MarketUTI - Money Market 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 Money Market vs UTI - Money Market: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HDFC Money Market Fund (Direct) | UTI - Money Market Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.35% | +6.33% |
| Standard deviation | 0.52% | 0.52% |
| Sharpe ratio | 2.11 | 2.10 |
| Sortino ratio | 3.37 | 3.30 |
| Maximum drawdown | −0.1% (22-05-2026) | −0.1% (22-05-2026) |
| 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 | HDFC Money Market Fund (Direct) | UTI - Money Market Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.30% | +7.30% |
| Standard deviation | 0.43% | 0.42% |
| Sharpe ratio | 3.00 | 3.01 |
| Sortino ratio | 5.59 | 5.57 |
| Maximum drawdown | −0.1% (22-05-2026) | −0.1% (22-05-2026) |
| 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 | HDFC Money Market Fund (Direct) | UTI - Money Market Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.75% | +6.77% |
| Standard deviation | 0.40% | 0.39% |
| Sharpe ratio | 2.41 | 2.47 |
| Sortino ratio | 4.33 | 4.46 |
| Maximum drawdown | −0.2% (06-05-2022) | −0.2% (05-05-2022) |
| 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 | HDFC Money Market Fund (Direct) | UTI - Money Market Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.28% | +7.27% |
| Standard deviation | 0.55% | 0.39% |
| Sharpe ratio | 2.23 | 3.16 |
| Sortino ratio | 4.57 | 6.31 |
| Maximum drawdown | −1.4% (24-03-2020) | −0.8% (24-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 01-01-2013 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.
HDFC Money Market Fund (Direct)
UTI - Money Market Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HDFC Money Market Fund (Direct) | −1.4% | 11-03-2020 | 24-03-2020 | 27-03-2020 | 3 days | 0.0% |
| UTI - Money Market Fund (Direct) | −0.8% | 11-03-2020 | 24-03-2020 | 27-03-2020 | 3 days | 0.0% |
From daily values since 01-01-2013, 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 Money Market Fund (Direct)
UTI - Money Market 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.
HDFC Money Market Fund (Direct)
UTI - Money Market 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.
HDFC Money Market Fund (Direct)
UTI - Money Market Fund (Direct)
HDFC Money Market vs UTI - Money Market: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC Money Market Fund, September 2026; UTI - Money Market Fund, September 2026
Holdings in common
- Overlap
- 21.0%
- Held by both
- 29
- Only in HDFC Money Market
- 91
- Only in UTI - Money Market
- 63
| Security | % of HDFC Money Market | % of UTI - Money Market |
|---|---|---|
| 182 Days TBILL MAT 040227 | 2.48% | 3.06% |
| Kotak Mahindra Bank Limited | 1.60% | 1.53% |
| Indusind Bank Ltd. | 3.53% | 1.22% |
| National Bank for Agri & Rural Dev. | 2.48% | 1.22% |
| Indian Overseas Bank | 3.53% | 1.21% |
| 182 Days TBILL MAT 180227 | 1.19% | 2.13% |
| Small Industries Development Bank | 3.40% | 1.17% |
| UCO Bank | 1.03% | 1.48% |
| Small Industries Development Bank | 3.01% | 0.91% |
| Bharti Telecom Limited | 0.88% | 1.21% |
| Axis Bank Ltd. | 0.71% | 1.22% |
| National Bank for Agri & Rural Dev. | 0.71% | 2.44% |
| Small Industries Development Bank | 2.30% | 0.61% |
| IGH Holdings Private Limited | 0.70% | 0.61% |
| Axis Bank Ltd. | 0.70% | 0.61% |
| Canara Bank | 0.61% | 1.51% |
| Bank of Maharashtra | 0.53% | 1.38% |
| Kotak Mahindra Bank Limited | 0.49% | 1.36% |
| National Bank for Financing Infrastructure and Development | 0.44% | 1.52% |
| Canara Bank | 0.44% | 1.22% |
| Kotak Mahindra Bank Limited | 0.35% | 1.98% |
| Small Industries Development Bank | 0.35% | 0.61% |
| Indian Bank | 0.34% | 0.44% |
| Au Small Finance Bank Ltd. | 0.34% | 0.87% |
| Corporate Debt Market Development Fund | 0.34% | 0.36% |
| Muthoot Fincorp Limited | 0.80% | 0.30% |
| Muthoot Fincorp Limited | 0.18% | 0.45% |
| Canara Bank | 0.09% | 0.61% |
| Small Industries Development Bank | 0.09% | 2.43% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 21.0% means 21.0% 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 Money Market Fund
| Security | % of fund |
|---|---|
| National Bank for Agri & Rural Dev. | 2.57% |
| 182 Days TBILL MAT 280127 | 2.49% |
| Punjab & Sind Bank | 2.29% |
| Punjab & Sind Bank | 2.02% |
| Bajaj Finance Ltd. | 1.94% |
Largest holdings only in UTI - Money Market Fund
| Security | % of fund |
|---|---|
| CD - INDIAN BANK - 05/02/2027 | 2.44% |
| CD - NABARD - 28/01/2027 | 2.44% |
| CD - CANARA BANK - 12/02/2027 | 2.13% |
| CD - HDFC BANK LTD - 24/02/2027 | 2.12% |
| CD - NABARD - 19/01/2027 | 1.83% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC Money Market | UTI - Money Market |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 104.2% | 95.7% |
| Cash and others | -4.2% | 4.3% |
HDFC Money Market vs UTI - Money Market: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC Money Market Fund | UTI - Money Market Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.22% | 0.17% |
| Base expense ratio (Direct) | 0.19% | 0.15% |
| Total expense ratio (Regular) | 0.41% | 0.29% |
| Base expense ratio (Regular) | 0.35% | 0.25% |
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 HDFC Money Market with
HDFC Money Market Fund vs UTI - Money Market Fund: Frequently Asked Questions
What is the difference between HDFC Money Market Fund and UTI - Money Market Fund?
Both are Money Market funds, run by HDFC Mutual Fund and UTI Mutual Fund. Their portfolios overlap 21.0%. HDFC Money Market Fund charges 0.22% a year and UTI - Money Market Fund 0.17%.
Which has given higher returns, HDFC Money Market Fund or UTI - Money Market Fund?
Over 1 year: HDFC Money Market Fund +6.35%, UTI - Money Market Fund +6.33%. Over 3 years: HDFC Money Market Fund +7.30% a year, UTI - Money Market Fund +7.30% a year. Over 5 years: HDFC Money Market Fund +6.75% a year, UTI - Money Market Fund +6.77% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HDFC Money Market Fund or UTI - Money Market Fund?
UTI - Money Market Fund charges less: 0.17% a year against 0.22%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HDFC Money Market Fund and UTI - Money Market Fund overlap?
21.0%. They hold 29 of the same securities, the largest shared ones being 182 Days TBILL MAT 040227, Kotak Mahindra Bank Limited, Indusind Bank Ltd.. From each fund's latest monthly portfolio.
Which is riskier, HDFC Money Market Fund or UTI - Money Market Fund?
On SEBI's riskometer, HDFC Money Market Fund is rated Moderate and UTI - Money Market Fund Moderate. Over 3 years, the standard deviation of daily returns was 0.43% and 0.42% a year.
Which is better for SIP, HDFC Money Market Fund or UTI - Money Market Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,31,174 in HDFC Money Market Fund (XIRR 7.1% a year) and ₹7,31,271 in UTI - Money Market Fund (XIRR 7.1% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both HDFC Money Market Fund and UTI - Money Market Fund?
Yes. 21.0% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages HDFC Money Market Fund and UTI - Money Market Fund?
HDFC Money Market Fund: Praveen Jain, Gopal Agrawal. UTI - Money Market Fund: Anurag Mittal FM 1, Amit Sharma FM 2, Not Applicable FM 3, Not Applicable FM 4.
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.