Invesco India Liquid Fund vs Nippon India Liquid Fund
Direct Plan, Growth option · Data as on 30-10-2026
Invesco India Liquid Fund and Nippon India Liquid Fund are both Liquid funds. In the 3 years to 30-10-2026, Invesco India Liquid Fund (Direct) returned 6.9% a year and Nippon India Liquid Fund (Direct) returned 6.9% a year. Invesco India Liquid Fund charges 0.15% a year and Nippon India Liquid Fund 0.20% (Direct plans). Their portfolios overlap 14.4%: they hold 25 of the same securities.
Invesco India Liquid Fund
Liquid
- 3 year return
- 6.9%
- Expense ratio
- 0.15%
- NAV
- ₹3,927.44
Nippon India Liquid Fund
Liquid
- 3 year return
- 6.9%
- Expense ratio
- 0.20%
- NAV
- ₹7,007.02
Which is better, Invesco India Liquid or Nippon India Liquid? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Nippon India Liquid returned more over 5 years: 6.4% a year against 6.4%.
- Nippon India Liquid returned more over 3 years: 6.9% a year against 6.9%.
- Invesco India Liquid costs less: 0.15% a year against 0.20% (Direct plans).
- Invesco India Liquid swung less over 3 years: a standard deviation of 0.1% a year against 0.1%.
- Invesco India Liquid fell less in its worst fall since 01-01-2013: −0.2% against −0.2%.
- Nippon India Liquid is the larger fund: ₹40,490 Cr against ₹22,395 Cr.
- Their portfolios overlap 14.4%: 25 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 | Invesco India Liquid Fund | Nippon India Liquid Fund |
|---|---|---|
| Fund house | Invesco Mutual Fund | Nippon India Mutual Fund |
| Category | Liquid | Liquid |
| AUM | ₹22,395 Cr (30-09-2026) | ₹40,490 Cr (30-09-2026) |
| NAV | ₹3,927.44 (Direct) | ₹7,007.02 (Direct) |
| Expense ratio (Direct) | 0.15% | 0.20% |
| Expense ratio (Regular) | 0.22% | 0.38% |
| Riskometer | Low to Moderate | Moderate |
| Benchmark | NIFTY Liquid Index A-I | NIFTY Liquid Index A-I |
| Launch date | 17-11-2006 | 09-12-2003 |
| Minimum investment | Not available | Daily IDCW Plan - ?10000 & in multiples of ?1 thereafter Weekly IDCW Plan - ?5000 & in multiples of ?1 thereafter Other Plans and Plans - ?1000 and in multiples of ?1 thereafter |
| Lock in | None | None |
| Fund managers | Krishna Cheemalapati, Kunal Jain | Vikash Agarwal |
| Exit load | Exit load of 0.0070% if redeemed within 1 day, 0.0065% if redeemed within 2 days, 0.0060% if redeemed within 3 days, 0.0055% if redeemed within 4 days, 0.0050% if redeemed within 5 days, 0.0045% if redeemed within 6 days. | Exit load of 0.0070% if redeemed within 1 day, 0.0065% if redeemed within 2 days, 0.0060% if redeemed within 3 days, 0.0055% if redeemed within 4 days, 0.0050% if redeemed within 5 days, 0.0045% if redeemed within 6 days. |
Invesco India Liquid vs Nippon India Liquid: 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 |
|---|---|---|---|---|---|---|---|
| Invesco India Liquid Fund (Direct) | +0.45% | +1.52% | +3.19% | +6.46% | +6.90% | +6.40% | +6.08% |
| Nippon India Liquid Fund (Direct) | +0.45% | +1.52% | +3.20% | +6.50% | +6.93% | +6.44% | +6.15% |
| Liquid average | +0.44% | +1.46% | +3.06% | +6.23% | +6.66% | +6.18% | +5.85% |
Category average: the average of the 44 Liquid funds, same plan type.
Invesco India Liquid vs Nippon India Liquid: Year-wise Returns
| Year | InvescoInvesco India Liquid | NipponNippon India Liquid |
|---|---|---|
| 2026to date | +5.40% | +5.44% |
| 2025 | +6.58% | +6.63% |
| 2024 | +7.44% | +7.46% |
| 2023 | +7.06% | +7.11% |
| 2022 | +4.90% | +4.92% |
| 2021 | +3.33% | +3.37% |
Invesco India Liquid vs Nippon India Liquid: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 3,842 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.
Invesco India Liquid Fund (Direct)
Nippon India Liquid 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Invesco India Liquid | 0.0 | 20.7 | 79.3 | 0.0 | 0.0 | 0.0 | 0.0 | 6.5% | 6.9% | 4.0% | 9.0% |
| Nippon India Liquid | 0.0 | 19.3 | 80.7 | 0.0 | 0.0 | 0.0 | 0.0 | 6.5% | 7.0% | 4.1% | 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.
Invesco India Liquid vs Nippon India Liquid: 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 |
|---|---|---|---|---|
| Invesco India LiquidInvesco India Liquid Fund (Direct) | ₹16,60,000 | ₹26,15,656 | ₹9,55,656 | 6.3% |
| Nippon India LiquidNippon India Liquid Fund (Direct) | ₹16,60,000 | ₹26,27,615 | ₹9,67,615 | 6.4% |
Invesco India LiquidInvesco India Liquid Fund (Direct)
Nippon India LiquidNippon India Liquid 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.
Invesco India Liquid vs Nippon India Liquid: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Invesco India Liquid Fund (Direct) | Nippon India Liquid Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.46% | +6.50% |
| Standard deviation | 0.19% | 0.20% |
| Sharpe ratio | 6.30 | 6.44 |
| Sortino ratio | 18.08 | 18.44 |
| Maximum drawdown | −0.0% (22-10-2026) | −0.0% (22-10-2026) |
| 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 | Invesco India Liquid Fund (Direct) | Nippon India Liquid Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.90% | +6.93% |
| Standard deviation | 0.14% | 0.15% |
| Sharpe ratio | 6.03 | 6.13 |
| Sortino ratio | 17.41 | 17.64 |
| Maximum drawdown | −0.0% (22-10-2026) | −0.0% (22-10-2026) |
| 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 | Invesco India Liquid Fund (Direct) | Nippon India Liquid Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.40% | +6.44% |
| Standard deviation | 0.13% | 0.14% |
| Sharpe ratio | 4.48 | 4.49 |
| Sortino ratio | 9.84 | 9.55 |
| Maximum drawdown | −0.0% (05-05-2022) | −0.1% (05-05-2022) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 30-10-2021 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 | Invesco India Liquid Fund (Direct) | Nippon India Liquid Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.81% | +6.86% |
| Standard deviation | 0.22% | 0.23% |
| Sharpe ratio | 3.52 | 3.62 |
| Sortino ratio | 6.83 | 6.94 |
| Maximum drawdown | −0.2% (16-07-2013) | −0.2% (16-07-2013) |
| 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.
Invesco India Liquid Fund (Direct)
Nippon India Liquid Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Invesco India Liquid Fund (Direct) | −0.2% | 15-07-2013 | 16-07-2013 | 23-07-2013 | 7 days | 0.0% |
| Nippon India Liquid Fund (Direct) | −0.2% | 15-07-2013 | 16-07-2013 | 29-07-2013 | 13 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.
Invesco India Liquid Fund (Direct)
Nippon India Liquid 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.
Invesco India Liquid Fund (Direct)
Nippon India Liquid 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.
Invesco India Liquid Fund (Direct)
Nippon India Liquid Fund (Direct)
Invesco India Liquid vs Nippon India Liquid: Portfolio Overlap
From each fund's latest monthly portfolio: Invesco India Liquid Fund, September 2026; Nippon India Liquid Fund, September 2026
Holdings in common
- Overlap
- 14.4%
- Held by both
- 25
- Only in Invesco India Liquid
- 83
- Only in Nippon India Liquid
- 142
| Security | % of Invesco India Liquid | % of Nippon India Liquid |
|---|---|---|
| Union Bank of India 2026 | 1.78% | 2.03% |
| 91 Days Tbill (MD 08/10/2026) | 2.43% | 1.58% |
| Small Industries Dev Bank of India 2026 | 4.41% | 1.22% |
| Small Industries Dev Bank of India 2026 | 1.21% | 2.44% |
| National Bank For Agriculture and Rural Development 2026 | 1.11% | 1.23% |
| National Bank For Agriculture and Rural Development 2026 | 1.33% | 0.98% |
| Reliance Retail Ventures Limited 2026 | 0.88% | 1.22% |
| Export Import Bank of India 2026 | 0.67% | 1.23% |
| ICICI Securities Limited 2026 | 0.66% | 0.73% |
| Canara Bank 2026 | 1.77% | 0.61% |
| Kotak Securities Limited 2026 | 1.10% | 0.61% |
| Reliance Industries Limited 2026 | 0.44% | 0.61% |
| Kotak Securities Limited 2026 | 0.44% | 0.49% |
| Export Import Bank of India 2026 | 0.44% | 0.61% |
| Reliance Industries Limited 2026 | 0.33% | 0.61% |
| National Bank For Agriculture and Rural Development 2026 | 0.22% | 1.23% |
| Union Bank of India 2026 | 0.22% | 1.23% |
| Corporate Debt Market Development Fund Class A2 | 0.21% | 0.25% |
| HDFC Bank Limited 2026 | 0.89% | 0.18% |
| 91 Days Tbill (MD 05/11/2026) | 0.60% | 0.12% |
| Bank of Baroda 2026 | 0.22% | 0.12% |
| Small Industries Dev Bank of India 2026 | 0.22% | 0.12% |
| 7.23% Indian Railway Finance Corporation Limited 2026 | 0.16% | 0.12% |
| Bank of Baroda 2026 | 0.11% | 0.12% |
| 364 Days Tbill (MD 06/11/2026) | 2.22% | 0.06% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 14.4% means 14.4% 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 Invesco India Liquid Fund
| Security | % of fund |
|---|---|
| HDFC Securities Limited 2026 | 2.66% |
| Bank of Baroda 2026 | 2.55% |
| Bank of Baroda 2026 | 2.22% |
| Bharat Petroleum Corporation Limited 2026 | 2.22% |
| HDFC Bank Limited 2026 | 2.22% |
Largest holdings only in Nippon India Liquid Fund
| Security | % of fund |
|---|---|
| Canara Bank | 3.68% |
| HDFC Bank Limited | 3.05% |
| 91 Days Tbill | 2.88% |
| HDFC Bank Limited | 2.09% |
| National Bank For Agriculture and Rural Development | 1.85% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Invesco India Liquid | Nippon India Liquid |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 98.3% | 103.4% |
| Cash and others | 1.7% | -3.4% |
Invesco India Liquid vs Nippon India Liquid: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Invesco India Liquid Fund | Nippon India Liquid Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.15% | 0.20% |
| Base expense ratio (Direct) | 0.13% | 0.17% |
| Total expense ratio (Regular) | 0.22% | 0.38% |
| Base expense ratio (Regular) | 0.19% | 0.32% |
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 Invesco India Liquid with
Invesco India Liquid Fund vs Nippon India Liquid Fund: Frequently Asked Questions
What is the difference between Invesco India Liquid Fund and Nippon India Liquid Fund?
Both are Liquid funds, run by Invesco Mutual Fund and Nippon India Mutual Fund. Their portfolios overlap 14.4%. Invesco India Liquid Fund charges 0.15% a year and Nippon India Liquid Fund 0.20%.
Which has given higher returns, Invesco India Liquid Fund or Nippon India Liquid Fund?
Over 1 year: Invesco India Liquid Fund +6.46%, Nippon India Liquid Fund +6.50%. Over 3 years: Invesco India Liquid Fund +6.90% a year, Nippon India Liquid Fund +6.93% a year. Over 5 years: Invesco India Liquid Fund +6.40% a year, Nippon India Liquid Fund +6.44% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Invesco India Liquid Fund or Nippon India Liquid Fund?
Invesco India Liquid Fund charges less: 0.15% a year against 0.20%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Invesco India Liquid Fund and Nippon India Liquid Fund overlap?
14.4%. They hold 25 of the same securities, the largest shared ones being Union Bank of India 2026, 91 Days Tbill (MD 08/10/2026), Small Industries Dev Bank of India 2026. From each fund's latest monthly portfolio.
Which is riskier, Invesco India Liquid Fund or Nippon India Liquid Fund?
On SEBI's riskometer, Invesco India Liquid Fund is rated Low to Moderate and Nippon India Liquid Fund Moderate. Over 3 years, the standard deviation of daily returns was 0.14% and 0.15% a year.
Which is better for SIP, Invesco India Liquid Fund or Nippon India Liquid Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,24,611 in Invesco India Liquid Fund (XIRR 6.7% a year) and ₹7,25,307 in Nippon India Liquid Fund (XIRR 6.8% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Invesco India Liquid Fund and Nippon India Liquid Fund?
Yes. 14.4% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Invesco India Liquid Fund and Nippon India Liquid Fund?
Invesco India Liquid Fund: Krishna Cheemalapati, Kunal Jain. Nippon India Liquid Fund: Vikash Agarwal.
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.