HDFC Ultra Short to Short Term Fund vs ICICI Prudential Floating Interest Rates Fund
Direct Plan, Growth option · Data as on 30-10-2026
HDFC Ultra Short to Short Term Fund is a Low Duration fund and ICICI Prudential Floating Interest Rates Fund is a Floater fund. In the 3 years to 30-10-2026, HDFC Ultra Short to Short Term Fund (Direct) returned 7.3% a year and ICICI Prudential Floating Interest Rates Fund (Direct) returned 7.5% a year. HDFC Ultra Short to Short Term Fund charges 0.46% a year and ICICI Prudential Floating Interest Rates Fund 0.29% (Direct plans). Their portfolios overlap 19.1%: they hold 21 of the same securities.
HDFC Ultra Short to Short Term Fund
Low Duration
- 3 year return
- 7.3%
- Expense ratio
- 0.46%
- NAV
- ₹67.76
ICICI Prudential Floating Interest Rates Fund
Floater
- 3 year return
- 7.5%
- Expense ratio
- 0.29%
- NAV
- ₹501.30
Which is better, HDFC Ultra Short to Short Term or ICICI Prudential Floating Interest Rates? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- ICICI Prudential Floating Interest Rates returned more over 5 years: 7.0% a year against 6.7%.
- ICICI Prudential Floating Interest Rates returned more over 3 years: 7.5% a year against 7.3%.
- ICICI Prudential Floating Interest Rates costs less: 0.29% a year against 0.46% (Direct plans).
- HDFC Ultra Short to Short Term swung less over 3 years: a standard deviation of 0.5% a year against 0.8%.
- HDFC Ultra Short to Short Term fell less in its worst fall since 02-01-2013: −1.3% against −1.8%.
- HDFC Ultra Short to Short Term is the larger fund: ₹16,513 Cr against ₹8,658 Cr.
- Their portfolios overlap 19.1%: 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 | HDFC Ultra Short to Short Term Fund | ICICI Prudential Floating Interest Rates Fund |
|---|---|---|
| Fund house | HDFC Mutual Fund | ICICI Prudential Mutual Fund |
| Category | Low Duration | Floater |
| AUM | ₹16,513 Cr (30-09-2026) | ₹8,658 Cr (30-09-2026) |
| NAV | ₹67.76 (Direct) | ₹501.30 (Direct) |
| Expense ratio (Direct) | 0.46% | 0.29% |
| Expense ratio (Regular) | 1.03% | 0.85% |
| Riskometer | Moderate | Not available |
| Benchmark | NIFTY Low Duration Debt Index A-I | NIFTY Low Duration Debt Index A-I |
| Launch date | 18-11-1999 | 17-11-2005 |
| Minimum investment | ₹100 | ₹500 |
| Lock in | None | None |
| Fund managers | Anupam Joshi, Gopal Agrawal, Praveen Jain | Darshil Dedhia, Ritesh Lunawat |
| Exit load | NIL | Nil |
HDFC Ultra Short to Short Term vs ICICI Prudential Floating Interest Rates: 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 Ultra Short to Short Term Fund (Direct) | +0.13% | +1.02% | +2.83% | +5.70% | +7.26% | +6.71% | +7.04% |
| ICICI Prudential Floating Interest Rates Fund (Direct) | −0.23% | +0.39% | +2.53% | +5.56% | +7.53% | +6.97% | +7.52% |
| Low Duration average | +0.18% | +1.12% | +2.95% | +5.79% | +7.22% | +6.58% | +6.73% |
| Floater average | −0.01% | +0.56% | +2.76% | +5.43% | +7.47% | +6.73% | +7.16% |
Category average: the average of the 25 Low Duration funds and the 12 Floater funds, same plan type.
HDFC Ultra Short to Short Term vs ICICI Prudential Floating Interest Rates: Year-wise Returns
| Year | HDFC Ultra Short to Short TermHDFC Ultra Short to Short Term | ICICI Prudential Floating Interest RatesICICI Prudential Floating Interest Rates |
|---|---|---|
| 2026to date | +4.69% | +4.26% |
| 2025 | +7.82% | +8.41% |
| 2024 | +8.05% | +8.68% |
| 2023 | +7.68% | +8.46% |
| 2022 | +4.75% | +5.00% |
| 2021 | +4.31% | +4.54% |
HDFC Ultra Short to Short Term vs ICICI Prudential Floating Interest Rates: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 2,620 of them, one for each trading day from 04-01-2016 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 Ultra Short to Short Term Fund (Direct)
ICICI Prudential Floating Interest Rates 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 Ultra Short to Short Term | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7.5% | 7.8% | 5.5% | 9.4% |
| ICICI Prudential Floating Interest Rates | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 8.1% | 8.3% | 6.0% | 10.0% |
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 02-01-2013. Past returns do not promise future returns.
HDFC Ultra Short to Short Term vs ICICI Prudential Floating Interest Rates: 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 Ultra Short to Short TermHDFC Ultra Short to Short Term Fund (Direct) | ₹16,60,000 | ₹27,91,138 | ₹11,31,138 | 7.2% |
| ICICI Prudential Floating Interest RatesICICI Prudential Floating Interest Rates Fund (Direct) | ₹16,60,000 | ₹28,94,539 | ₹12,34,539 | 7.7% |
HDFC Ultra Short to Short TermHDFC Ultra Short to Short Term Fund (Direct)
ICICI Prudential Floating Interest RatesICICI Prudential Floating Interest Rates 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 Ultra Short to Short Term vs ICICI Prudential Floating Interest Rates: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HDFC Ultra Short to Short Term Fund (Direct) | ICICI Prudential Floating Interest Rates Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.70% | +5.56% |
| Standard deviation | 0.66% | 1.02% |
| Sharpe ratio | 0.69 | 0.31 |
| Sortino ratio | 1.00 | 0.45 |
| Maximum drawdown | −0.3% (21-05-2026) | −0.5% (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 | HDFC Ultra Short to Short Term Fund (Direct) | ICICI Prudential Floating Interest Rates Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.26% | +7.53% |
| Standard deviation | 0.52% | 0.77% |
| Sharpe ratio | 2.38 | 1.95 |
| Sortino ratio | 3.96 | 3.11 |
| Maximum drawdown | −0.3% (21-05-2026) | −0.5% (23-10-2026) |
| 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 Ultra Short to Short Term Fund (Direct) | ICICI Prudential Floating Interest Rates Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.71% | +6.97% |
| Standard deviation | 0.51% | 0.90% |
| Sharpe ratio | 1.77 | 1.29 |
| Sortino ratio | 2.74 | 1.95 |
| Maximum drawdown | −0.3% (06-05-2022) | −0.9% (28-06-2022) |
| 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 Ultra Short to Short Term Fund (Direct) | ICICI Prudential Floating Interest Rates Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.59% | +8.11% |
| Standard deviation | 0.73% | 0.93% |
| Sharpe ratio | 2.10 | 2.21 |
| Sortino ratio | 3.48 | 3.71 |
| Maximum drawdown | −1.3% (24-03-2020) | −1.8% (26-03-2020) |
| 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 Ultra Short to Short Term Fund (Direct)
ICICI Prudential Floating Interest Rates Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HDFC Ultra Short to Short Term Fund (Direct) | −1.3% | 06-03-2020 | 24-03-2020 | 27-03-2020 | 3 days | −0.1% |
| ICICI Prudential Floating Interest Rates Fund (Direct) | −1.8% | 05-03-2020 | 26-03-2020 | 31-03-2020 | 5 days | −0.3% |
From daily values since 02-01-2013, 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 Ultra Short to Short Term Fund (Direct)
ICICI Prudential Floating Interest Rates 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 Ultra Short to Short Term Fund (Direct)
ICICI Prudential Floating Interest Rates 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 Ultra Short to Short Term Fund (Direct)
ICICI Prudential Floating Interest Rates Fund (Direct)
HDFC Ultra Short to Short Term vs ICICI Prudential Floating Interest Rates: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC Ultra Short to Short Term Fund, September 2026; ICICI Prudential Floating Interest Rates Fund, September 2026
Holdings in common
- Overlap
- 19.1%
- Held by both
- 21
- Only in HDFC Ultra Short to Short Term
- 117
- Only in ICICI Prudential Floating Interest Rates
- 64
| Security | % of HDFC Ultra Short to Short Term | % of ICICI Prudential Floating Interest Rates |
|---|---|---|
| National Bank for Agri & Rural Dev. | 3.89% | 4.95% |
| Floating Rate GOI 2033 | 3.16% | 4.16% |
| Small Industries Development Bank | 1.80% | 2.17% |
| Housing and Urban Development Corporation Ltd. | 1.19% | 1.02% |
| National Bank for Agri & Rural Dev. | 2.73% | 0.98% |
| Power Finance Corporation Ltd. | 1.06% | 0.92% |
| Shivshakti Securitisation Trust (Originator - Sikka Ports & Terminals Limited) | 0.87% | 1.93% |
| Citicorp Finance (India) Ltd. | 0.87% | 3.02% |
| Small Industries Development Bank | 1.36% | 0.87% |
| Small Industries Development Bank | 5.55% | 0.87% |
| National Bank for Agri & Rural Dev. | 1.06% | 0.69% |
| REC Limited. | 0.60% | 1.54% |
| Pipeline Infrastructure Pvt. Ltd. | 0.46% | 1.02% |
| Corporate Debt Market Development Fund | 0.43% | 0.41% |
| Power Finance Corporation Ltd. | 0.46% | 0.41% |
| REC Limited. | 0.30% | 2.31% |
| Jio Credit Ltd | 0.30% | 1.71% |
| National Bank for Agri & Rural Dev. | 0.20% | 1.55% |
| REC Limited. | 0.15% | 2.59% |
| REC Limited. | 0.15% | 1.43% |
| Small Industries Development Bank | 0.15% | 0.29% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 19.1% means 19.1% 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 Ultra Short to Short Term Fund
| Security | % of fund |
|---|---|
| Floating Rate GOI 2028 | 4.72% |
| Jubilant Beverages Limited | 4.05% |
| National Housing Bank | 2.86% |
| Bajaj Housing Finance Ltd. | 2.27% |
| Yes Bank Ltd. | 2.21% |
Largest holdings only in ICICI Prudential Floating Interest Rates Fund
| Security | % of fund |
|---|---|
| Tata Capital Financial Services Ltd. | 2.88% |
| LIC Housing Finance Ltd. | 2.71% |
| Power Finance Corporation Ltd. | 2.59% |
| Power Finance Corporation Ltd. | 2.52% |
| State Government of Bihar | 2.28% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC Ultra Short to Short Term | ICICI Prudential Floating Interest Rates |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 97.9% | 95.7% |
| Cash and others | 2.1% | 4.3% |
HDFC Ultra Short to Short Term vs ICICI Prudential Floating Interest Rates: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC Ultra Short to Short Term Fund | ICICI Prudential Floating Interest Rates Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.46% | 0.29% |
| Base expense ratio (Direct) | 0.39% | 0.25% |
| Total expense ratio (Regular) | 1.03% | 0.85% |
| Base expense ratio (Regular) | 0.87% | 0.73% |
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 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
Compare ICICI Prudential Floating Interest Rates with
- ICICI Prudential Floating Interest Rates vs Axis Floating Interest Rates
- ICICI Prudential Floating Interest Rates vs Franklin India Floating Interest Rates
- ICICI Prudential Floating Interest Rates vs Bandhan Floating Interest Rates
- ICICI Prudential Floating Interest Rates vs Kotak Floating Interest Rates
HDFC Ultra Short to Short Term Fund vs ICICI Prudential Floating Interest Rates Fund: Frequently Asked Questions
What is the difference between HDFC Ultra Short to Short Term Fund and ICICI Prudential Floating Interest Rates Fund?
HDFC Ultra Short to Short Term Fund is a Low Duration fund, ICICI Prudential Floating Interest Rates Fund is a Floater fund, run by HDFC Mutual Fund and ICICI Prudential Mutual Fund. Their portfolios overlap 19.1%. HDFC Ultra Short to Short Term Fund charges 0.46% a year and ICICI Prudential Floating Interest Rates Fund 0.29%.
Which has given higher returns, HDFC Ultra Short to Short Term Fund or ICICI Prudential Floating Interest Rates Fund?
Over 1 year: HDFC Ultra Short to Short Term Fund +5.70%, ICICI Prudential Floating Interest Rates Fund +5.56%. Over 3 years: HDFC Ultra Short to Short Term Fund +7.26% a year, ICICI Prudential Floating Interest Rates Fund +7.53% a year. Over 5 years: HDFC Ultra Short to Short Term Fund +6.71% a year, ICICI Prudential Floating Interest Rates Fund +6.97% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HDFC Ultra Short to Short Term Fund or ICICI Prudential Floating Interest Rates Fund?
ICICI Prudential Floating Interest Rates Fund charges less: 0.29% a year against 0.46%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HDFC Ultra Short to Short Term Fund and ICICI Prudential Floating Interest Rates Fund overlap?
19.1%. They hold 21 of the same securities, the largest shared ones being National Bank for Agri & Rural Dev., Floating Rate GOI 2033, Small Industries Development Bank. From each fund's latest monthly portfolio.
Which is better for SIP, HDFC Ultra Short to Short Term Fund or ICICI Prudential Floating Interest Rates Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,29,829 in HDFC Ultra Short to Short Term Fund (XIRR 7.0% a year) and ₹7,35,452 in ICICI Prudential Floating Interest Rates Fund (XIRR 7.3% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both HDFC Ultra Short to Short Term Fund and ICICI Prudential Floating Interest Rates Fund?
Yes. 19.1% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages HDFC Ultra Short to Short Term Fund and ICICI Prudential Floating Interest Rates Fund?
HDFC Ultra Short to Short Term Fund: Anupam Joshi, Gopal Agrawal, Praveen Jain. ICICI Prudential Floating Interest Rates Fund: Darshil Dedhia, Ritesh Lunawat.
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.