HSBC Ultra Short Term Fund vs Tata CRISIL IBX Financial Services 3 6 Months Debt Index Fund
Direct Plan, Growth option · Data as on 30-10-2026
HSBC Ultra Short Term Fund is an Ultra Short fund and Tata CRISIL IBX Financial Services 3 6 Months Debt Index Fund is an Index fund. HSBC Ultra Short Term Fund charges 0.18% a year and Tata CRISIL IBX Financial Services 3 6 Months Debt Index Fund 0.21% (Direct plans). Their portfolios overlap 13.5%: they hold 5 of the same securities.
Tata CRISIL IBX Financial Services 3 6 Months Debt Index Fund
Index
- Expense ratio
- 0.21%
- NAV
- ₹10.04
Which is better, HSBC Ultra Short Term or Tata CRISIL IBX Financial Services 3 6 Months Debt Index? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HSBC Ultra Short Term costs less: 0.18% a year against 0.21% (Direct plans).
- HSBC Ultra Short Term fell less in its worst fall since 15-09-2026: −0.1% against −0.1%.
- HSBC Ultra Short Term is the larger fund: ₹2,733 Cr against ₹637 Cr.
- Their portfolios overlap 13.5%: 5 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 | HSBC Ultra Short Term Fund | Tata CRISIL IBX Financial Services 3 6 Months Debt Index Fund |
|---|---|---|
| Fund house | HSBC Mutual Fund | Tata Mutual Fund |
| Category | Ultra Short | Index |
| AUM | ₹2,733 Cr (30-09-2026) | ₹637 Cr (30-09-2026) |
| NAV | ₹1,079.94 (Direct) | ₹10.04 (Direct) |
| Expense ratio (Direct) | 0.18% | 0.21% |
| Expense ratio (Regular) | 0.38% | 0.44% |
| Riskometer | Low to Moderate | Low to Moderate |
| Benchmark | NIFTY Ultra Short Duration Debt Index A-I | CRISIL-IBX Financial Services 3-6 Months Debt Index (TRI) |
| Launch date | 29-01-2020 | 24-09-2026 |
| Minimum investment | Rs. 5,000 per application | Not available |
| Lock in | None | None |
| Fund managers | Mahesh Chhabria, Rahul Totla | Dhawal Joshi, Amit Somani |
| Exit load | Exit Load : Nil | 0.25% of the applicable NAV, if redeemed on or before 30 days from the date of allotment. |
HSBC Ultra Short Term vs Tata CRISIL IBX Financial Services 3 6 Months Debt Index: 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 |
|---|---|---|---|---|---|---|---|
| HSBC Ultra Short Term Fund (Direct) | 0.00% | 0.00% | +0.02% | 0.00% | 0.00% | +0.41% | -- |
| Tata CRISIL IBX Financial Services 3 6 Months Debt Index Fund (Direct) | +0.30% | -- | -- | -- | -- | -- | -- |
| 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.
HSBC Ultra Short Term vs Tata CRISIL IBX Financial Services 3 6 Months Debt Index: Year-wise Returns
| Year | HSBC Ultra Short TermHSBC Ultra Short Term | Tata CRISIL IBX Financial Services 3 6 Months Debt IndexTata CRISIL IBX Financial Services 3 6 Months Debt Index |
|---|---|---|
| 2026to date | 0.00% | -- |
| 2025 | 0.00% | -- |
| 2024 | 0.00% | -- |
| 2023 | 0.00% | -- |
| 2022 | +1.35% | -- |
| 2021 | +3.75% | -- |
HSBC Ultra Short Term vs Tata CRISIL IBX Financial Services 3 6 Months Debt Index: Rolling Returns
Every holding period of both funds
HSBC Ultra Short Term vs Tata CRISIL IBX Financial Services 3 6 Months Debt Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HSBC Ultra Short Term Fund (Direct) | Tata CRISIL IBX Financial Services 3 6 Months Debt Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +1.14% | +3.50% |
| Standard deviation | 0.54% | 0.61% |
| Sharpe ratio | -7.38 | -3.27 |
| Sortino ratio | -8.15 | -3.54 |
| Maximum drawdown | −1.0% (24-03-2020) | −0.1% (22-10-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 30-01-2020 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.
HSBC Ultra Short Term Fund (Direct)
Tata CRISIL IBX Financial Services 3 6 Months Debt Index Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HSBC Ultra Short Term Fund (Direct) | −0.1% | 19-10-2026 | 22-10-2026 | 27-10-2026 | 5 days | 0.0% |
| Tata CRISIL IBX Financial Services 3 6 Months Debt Index Fund (Direct) | −0.1% | 13-10-2026 | 22-10-2026 | 29-10-2026 | 7 days | 0.0% |
From daily values since 15-09-2026, the first day every fund has.
HSBC Ultra Short Term vs Tata CRISIL IBX Financial Services 3 6 Months Debt Index: Portfolio Overlap
From each fund's latest monthly portfolio: HSBC Ultra Short Term Fund, September 2026; Tata CRISIL IBX Financial Services 3 6 Months Debt Index Fund, September 2026
Holdings in common
- Overlap
- 13.5%
- Held by both
- 5
- Only in HSBC Ultra Short Term
- 37
- Only in Tata CRISIL IBX Financial Services 3 6 Months Debt Index
- 12
| Security | % of HSBC Ultra Short Term | % of Tata CRISIL IBX Financial Services 3 6 Months Debt Index |
|---|---|---|
| Bank of Baroda | 4.47% | 7.67% |
| Mahindra & Mahindra Financial Serv Ltd. | 3.55% | 3.81% |
| Bajaj Housing Finance Ltd | 1.90% | 3.92% |
| Axis Bank Limited | 1.78% | 3.06% |
| SIDBI | 1.78% | 7.64% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 13.5% means 13.5% 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 HSBC Ultra Short Term Fund
| Security | % of fund |
|---|---|
| 91 Days Treasury Bill 24-Dec-2026 | 6.32% |
| Axis Bank Limited | 4.49% |
| Indian Bank | 4.47% |
| Bharti Telecom Limited | 3.89% |
| Bajaj Finance Limited | 3.78% |
Largest holdings only in Tata CRISIL IBX Financial Services 3 6 Months Debt Index Fund
| Security | % of fund |
|---|---|
| ** 07.95 % REC LTD - 12/03/2027 | 7.87% |
| ** - CANARA BANK - CD - 29/01/2027 | 7.68% |
| ** - ADITYA BIRLA CAPITAL LTD - CP - 04/02/2027 | 7.66% |
| ** - UNION BANK OF INDIA - CD - 02/03/2027 | 7.63% |
| ** - HDFC BANK LTD - CD - 05/03/2027 | 7.63% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HSBC Ultra Short Term | Tata CRISIL IBX Financial Services 3 6 Months Debt Index |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 105.0% | 98.9% |
| Cash and others | -5.0% | 1.1% |
HSBC Ultra Short Term vs Tata CRISIL IBX Financial Services 3 6 Months Debt Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HSBC Ultra Short Term Fund | Tata CRISIL IBX Financial Services 3 6 Months Debt Index Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.18% | 0.21% |
| Base expense ratio (Direct) | 0.14% | 0.07% |
| Total expense ratio (Regular) | 0.38% | 0.44% |
| Base expense ratio (Regular) | 0.31% | 0.30% |
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 HSBC Ultra Short Term with
HSBC Ultra Short Term Fund vs Tata CRISIL IBX Financial Services 3 6 Months Debt Index Fund: Frequently Asked Questions
What is the difference between HSBC Ultra Short Term Fund and Tata CRISIL IBX Financial Services 3 6 Months Debt Index Fund?
HSBC Ultra Short Term Fund is an Ultra Short fund, Tata CRISIL IBX Financial Services 3 6 Months Debt Index Fund is an Index fund, run by HSBC Mutual Fund and Tata Mutual Fund. Their portfolios overlap 13.5%. HSBC Ultra Short Term Fund charges 0.18% a year and Tata CRISIL IBX Financial Services 3 6 Months Debt Index Fund 0.21%.
Which has the lower expense ratio, HSBC Ultra Short Term Fund or Tata CRISIL IBX Financial Services 3 6 Months Debt Index Fund?
HSBC Ultra Short Term Fund charges less: 0.18% a year against 0.21%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HSBC Ultra Short Term Fund and Tata CRISIL IBX Financial Services 3 6 Months Debt Index Fund overlap?
13.5%. They hold 5 of the same securities, the largest shared ones being Bank of Baroda, Mahindra & Mahindra Financial Serv Ltd., Bajaj Housing Finance Ltd. From each fund's latest monthly portfolio.
Which is riskier, HSBC Ultra Short Term Fund or Tata CRISIL IBX Financial Services 3 6 Months Debt Index Fund?
On SEBI's riskometer, HSBC Ultra Short Term Fund is rated Low to Moderate and Tata CRISIL IBX Financial Services 3 6 Months Debt Index Fund Low to Moderate. Over their common history, the standard deviation of daily returns was 0.54% and 0.61% a year.
Can I invest in both HSBC Ultra Short Term Fund and Tata CRISIL IBX Financial Services 3 6 Months Debt Index Fund?
Yes. 13.5% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages HSBC Ultra Short Term Fund and Tata CRISIL IBX Financial Services 3 6 Months Debt Index Fund?
HSBC Ultra Short Term Fund: Mahesh Chhabria, Rahul Totla. Tata CRISIL IBX Financial Services 3 6 Months Debt Index 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.