ICICI Prudential Short Term Fund vs ICICI Prudential Ultra Short to Short Term Fund
Direct Plan, Growth option · Data as on 30-10-2026
ICICI Prudential Short Term Fund is a Short Duration fund and ICICI Prudential Ultra Short to Short Term Fund is a Low Duration fund. In the 3 years to 30-10-2026, ICICI Prudential Short Term Fund (Direct) returned 7.5% a year and ICICI Prudential Ultra Short to Short Term Fund (Direct) returned 7.3% a year. ICICI Prudential Short Term Fund charges 0.45% a year and ICICI Prudential Ultra Short to Short Term Fund 0.42% (Direct plans). Their portfolios overlap 23.0%: they hold 47 of the same securities.
ICICI Prudential Short Term Fund
Short Duration
- 3 year return
- 7.5%
- Expense ratio
- 0.45%
- NAV
- ₹70.57
ICICI Prudential Ultra Short to Short Term Fund
Low Duration
- 3 year return
- 7.3%
- Expense ratio
- 0.42%
- NAV
- ₹597.43
Which is better, ICICI Prudential Short Term or ICICI Prudential Ultra Short to 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.
- ICICI Prudential Short Term returned more over 5 years: 7.0% a year against 6.7%.
- ICICI Prudential Short Term returned more over 3 years: 7.5% a year against 7.3%.
- ICICI Prudential Ultra Short to Short Term costs less: 0.42% a year against 0.45% (Direct plans).
- ICICI Prudential Ultra Short to Short Term swung less over 3 years: a standard deviation of 0.5% a year against 0.9%.
- ICICI Prudential Ultra Short to Short Term fell less in its worst fall since 02-01-2013: −1.6% against −3.4%.
- ICICI Prudential Short Term is the larger fund: ₹18,890 Cr against ₹18,781 Cr.
- Their portfolios overlap 23.0%: 47 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 | ICICI Prudential Short Term Fund | ICICI Prudential Ultra Short to Short Term Fund |
|---|---|---|
| Fund house | ICICI Prudential Mutual Fund | ICICI Prudential Mutual Fund |
| Category | Short Duration | Low Duration |
| AUM | ₹18,890 Cr (30-09-2026) | ₹18,781 Cr (30-09-2026) |
| NAV | ₹70.57 (Direct) | ₹597.43 (Direct) |
| Expense ratio (Direct) | 0.45% | 0.42% |
| Expense ratio (Regular) | 1.05% | 0.53% |
| Riskometer | Not available | Not available |
| Benchmark | Not available | Not available |
| Launch date | Not available | Not available |
| Minimum investment | Not available | Not available |
| Lock in | Not available | Not available |
| Fund managers | Not available | Not available |
| Exit load | Not available | Not available |
ICICI Prudential Short Term vs ICICI Prudential Ultra Short to 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 |
|---|---|---|---|---|---|---|---|
| ICICI Prudential Short Term Fund (Direct) | −0.28% | +0.18% | +2.45% | +4.92% | +7.48% | +6.99% | +7.63% |
| ICICI Prudential Ultra Short to Short Term Fund (Direct) | +0.13% | +1.05% | +2.93% | +5.87% | +7.30% | +6.65% | +7.05% |
| Short Duration average | −0.14% | +0.30% | +2.50% | +4.11% | +6.88% | +6.62% | +6.89% |
| Low Duration average | +0.18% | +1.12% | +2.95% | +5.79% | +7.22% | +6.58% | +6.73% |
Category average: the average of the 25 Short Duration funds and the 25 Low Duration funds, same plan type.
ICICI Prudential Short Term vs ICICI Prudential Ultra Short to Short Term: Year-wise Returns
| Year | ShortICICI Prudential Short Term | Ultra Short to ShortICICI Prudential Ultra Short to Short Term |
|---|---|---|
| 2026to date | +3.84% | +4.76% |
| 2025 | +8.61% | +7.82% |
| 2024 | +8.45% | +8.10% |
| 2023 | +8.10% | +7.73% |
| 2022 | +5.44% | +4.62% |
| 2021 | +4.67% | +3.89% |
ICICI Prudential Short Term vs ICICI Prudential Ultra Short to Short Term: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 2,618 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.
ICICI Prudential Short Term Fund (Direct)
ICICI Prudential Ultra Short to Short Term 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ICICI Prudential Short Term | 0.0 | 0.0 | 88.5 | 11.5 | 0.0 | 0.0 | 0.0 | 8.4% | 8.4% | 6.0% | 11.5% |
| ICICI Prudential Ultra Short to Short Term | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7.6% | 7.8% | 5.3% | 9.6% |
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.
ICICI Prudential Short Term vs ICICI Prudential Ultra Short to 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 02-01-2013 to 30-10-2026: 166 instalments, ₹16,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| ICICI Prudential Short TermICICI Prudential Short Term Fund (Direct) | ₹16,60,000 | ₹29,31,798 | ₹12,71,798 | 7.8% |
| ICICI Prudential Ultra Short to Short TermICICI Prudential Ultra Short to Short Term Fund (Direct) | ₹16,60,000 | ₹27,95,288 | ₹11,35,288 | 7.2% |
ICICI Prudential Short TermICICI Prudential Short Term Fund (Direct)
ICICI Prudential Ultra Short to Short TermICICI Prudential Ultra Short to 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.
ICICI Prudential Short Term vs ICICI Prudential Ultra Short to Short Term: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | ICICI Prudential Short Term Fund (Direct) | ICICI Prudential Ultra Short to Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +4.92% | +5.87% |
| Standard deviation | 1.22% | 0.62% |
| Sharpe ratio | -0.27 | 1.01 |
| Sortino ratio | -0.37 | 1.50 |
| Maximum drawdown | −0.6% (23-10-2026) | −0.2% (21-05-2026) |
| 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 | ICICI Prudential Short Term Fund (Direct) | ICICI Prudential Ultra Short to Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.48% | +7.30% |
| Standard deviation | 0.93% | 0.50% |
| Sharpe ratio | 1.55 | 2.56 |
| Sortino ratio | 2.34 | 4.37 |
| Maximum drawdown | −0.6% (23-10-2026) | −0.2% (21-05-2026) |
| 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 | ICICI Prudential Short Term Fund (Direct) | ICICI Prudential Ultra Short to Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.99% | +6.65% |
| Standard deviation | 0.98% | 0.61% |
| Sharpe ratio | 1.21 | 1.40 |
| Sortino ratio | 1.74 | 2.13 |
| Maximum drawdown | −0.7% (06-05-2022) | −0.6% (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 | ICICI Prudential Short Term Fund (Direct) | ICICI Prudential Ultra Short to Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.30% | +7.69% |
| Standard deviation | 1.56% | 0.76% |
| Sharpe ratio | 1.44 | 2.16 |
| Sortino ratio | 2.16 | 3.77 |
| Maximum drawdown | −3.4% (19-08-2013) | −1.6% (24-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 02-01-2013 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.
ICICI Prudential Short Term Fund (Direct)
ICICI Prudential Ultra Short to Short Term Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| ICICI Prudential Short Term Fund (Direct) | −3.4% | 19-06-2013 | 19-08-2013 | 04-10-2013 | 46 days | −0.5% |
| ICICI Prudential Ultra Short to Short Term Fund (Direct) | −1.6% | 05-03-2020 | 24-03-2020 | 31-03-2020 | 7 days | −0.0% |
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.
ICICI Prudential Short Term Fund (Direct)
ICICI Prudential Ultra Short to Short Term 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.
ICICI Prudential Short Term Fund (Direct)
ICICI Prudential Ultra Short to Short Term 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.
ICICI Prudential Short Term Fund (Direct)
ICICI Prudential Ultra Short to Short Term Fund (Direct)
ICICI Prudential Short Term vs ICICI Prudential Ultra Short to Short Term: Portfolio Overlap
From each fund's latest monthly portfolio: ICICI Prudential Short Term Fund, September 2026; ICICI Prudential Ultra Short to Short Term Fund, September 2026
Holdings in common
- Overlap
- 23.0%
- Held by both
- 47
- Only in ICICI Prudential Short Term
- 108
- Only in ICICI Prudential Ultra Short to Short Term
- 79
| Security | % of ICICI Prudential Short Term | % of ICICI Prudential Ultra Short to Short Term |
|---|---|---|
| NABARD | 2.82% | 3.34% |
| NABARD | 4.98% | 2.10% |
| LIC Housing Finance Ltd. | 3.96% | 1.35% |
| JTPM Metal Traders Ltd. | 1.29% | 1.55% |
| Government Securities | 1.09% | 3.31% |
| EMBASSY OFFICE PARKS REIT | 1.19% | 1.06% |
| Tata Capital Financial Services Ltd. | 1.06% | 1.59% |
| EMBASSY OFFICE PARKS REIT | 0.79% | 0.88% |
| Tata Capital Housing Finance Ltd. | 0.78% | 1.05% |
| Piramal Finance Ltd. | 1.19% | 0.75% |
| Rural Electrification Corporation Ltd. | 0.79% | 0.74% |
| India Universal Trust AL1 | 0.65% | 1.49% |
| Shivshakti Securitisation Trust | 3.03% | 0.64% |
| Nexus Select Trust | 1.05% | 0.53% |
| 360 One Prime Ltd. | 0.53% | 1.46% |
| Power Finance Corporation Ltd. | 0.92% | 0.53% |
| Rural Electrification Corporation Ltd. | 0.52% | 1.18% |
| India Universal Trust AL2 | 0.45% | 0.45% |
| Government Securities | 0.47% | 0.38% |
| Small Industries Development Bank Of India. | 1.42% | 0.34% |
| Corporate Debt Market Development Fund (Class A2) | 0.34% | 0.47% |
| Bharti Telecom Ltd. | 0.31% | 0.63% |
| NABARD | 0.40% | 0.29% |
| Sansar Trust | 0.47% | 0.27% |
| 360 One Prime Ltd | 0.92% | 0.26% |
| 360 One Prime Ltd | 0.26% | 0.45% |
| 360 One Prime Ltd. | 0.26% | 0.32% |
| India Universal Trust AL2 | 0.26% | 0.26% |
| Small Industries Development Bank Of India. | 2.32% | 0.25% |
| LIC Housing Finance Ltd. | 0.85% | 0.24% |
| JM Financial Credit Solution Ltd. | 0.21% | 0.57% |
| 360 One Prime Ltd. | 0.21% | 0.67% |
| Pipeline Infrastructure Pvt Ltd. | 0.19% | 0.48% |
| JM Financial Credit Solution Ltd. | 0.18% | 0.48% |
| Bharti Telecom Ltd. | 0.16% | 0.21% |
| India Universal Trust AL1 | 0.14% | 0.33% |
| Power Finance Corporation Ltd. | 0.26% | 0.13% |
| Rural Electrification Corporation Ltd. | 0.13% | 0.26% |
| JM Financial Services Ltd. | 0.13% | 0.40% |
| Sansar Trust June 2024 A1 | 0.12% | 0.12% |
| Rural Electrification Corporation Ltd. | 0.08% | 0.08% |
| State Government of Maharashtra | 0.51% | 0.08% |
| Small Industries Development Bank Of India. | 0.05% | 0.13% |
| Rural Electrification Corporation Ltd. | 0.03% | 0.05% |
| Godrej Seeds & Genetics Ltd. | 0.08% | 0.01% |
| Godrej Seeds & Genetics Ltd. | 0.08% | 0.01% |
| Godrej Seeds & Genetics Ltd. | 0.08% | 0.01% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 23.0% means 23.0% 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 ICICI Prudential Short Term Fund
| Security | % of fund |
|---|---|
| Vedanta Ltd. | 3.12% |
| Siddhivinayak Securitisation Trust | 2.40% |
| Cholamandalam Investment And Finance Company Ltd. | 1.59% |
| Summit Digitel Infrastructure Private Ltd. | 1.49% |
| Small Industries Development Bank Of India. | 1.37% |
Largest holdings only in ICICI Prudential Ultra Short to Short Term Fund
| Security | % of fund |
|---|---|
| Radhakrishna Securitization Trust | 4.44% |
| State Government of Karnataka | 2.62% |
| Rural Electrification Corporation Ltd. | 2.27% |
| Bajaj Housing Finance Ltd. | 2.23% |
| Bank Of India | 2.20% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | ICICI Prudential Short Term | ICICI Prudential Ultra Short to Short Term |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 96.2% | 97.1% |
| Cash and others | 3.8% | 2.9% |
ICICI Prudential Short Term vs ICICI Prudential Ultra Short to Short Term: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | ICICI Prudential Short Term Fund | ICICI Prudential Ultra Short to Short Term Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.45% | 0.42% |
| Base expense ratio (Direct) | 0.38% | 0.36% |
| Total expense ratio (Regular) | 1.05% | 0.53% |
| Base expense ratio (Regular) | 0.89% | 0.45% |
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 ICICI Prudential Short Term with
Compare ICICI Prudential Ultra Short to Short Term with
- ICICI Prudential Ultra Short to Short Term vs HSBC Ultra Short to Short Term
- ICICI Prudential Ultra Short to Short Term vs Nippon India Ultra Short to Short Term
- ICICI Prudential Ultra Short to Short Term vs Axis Ultra Short to Short Term
- ICICI Prudential Ultra Short to Short Term vs Kotak Ultra Short to Short Term
- ICICI Prudential Ultra Short to Short Term vs Mirae Asset Ultra Short to Short Term
ICICI Prudential Short Term Fund vs ICICI Prudential Ultra Short to Short Term Fund: Frequently Asked Questions
What is the difference between ICICI Prudential Short Term Fund and ICICI Prudential Ultra Short to Short Term Fund?
ICICI Prudential Short Term Fund is a Short Duration fund, ICICI Prudential Ultra Short to Short Term Fund is a Low Duration fund, run by ICICI Prudential Mutual Fund. Their portfolios overlap 23.0%. ICICI Prudential Short Term Fund charges 0.45% a year and ICICI Prudential Ultra Short to Short Term Fund 0.42%.
Which has given higher returns, ICICI Prudential Short Term Fund or ICICI Prudential Ultra Short to Short Term Fund?
Over 1 year: ICICI Prudential Short Term Fund +4.92%, ICICI Prudential Ultra Short to Short Term Fund +5.87%. Over 3 years: ICICI Prudential Short Term Fund +7.48% a year, ICICI Prudential Ultra Short to Short Term Fund +7.30% a year. Over 5 years: ICICI Prudential Short Term Fund +6.99% a year, ICICI Prudential Ultra Short to Short Term Fund +6.65% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, ICICI Prudential Short Term Fund or ICICI Prudential Ultra Short to Short Term Fund?
ICICI Prudential Ultra Short to Short Term Fund charges less: 0.42% a year against 0.45%. These are the Direct plans' total expense ratios reported to AMFI.
How much do ICICI Prudential Short Term Fund and ICICI Prudential Ultra Short to Short Term Fund overlap?
23.0%. They hold 47 of the same securities, the largest shared ones being NABARD, NABARD, LIC Housing Finance Ltd.. From each fund's latest monthly portfolio.
Which is better for SIP, ICICI Prudential Short Term Fund or ICICI Prudential Ultra Short to Short Term Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,32,200 in ICICI Prudential Short Term Fund (XIRR 7.1% a year) and ₹7,30,732 in ICICI Prudential Ultra Short to Short Term Fund (XIRR 7.1% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both ICICI Prudential Short Term Fund and ICICI Prudential Ultra Short to Short Term Fund?
Yes. 23.0% 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.