Invesco India Ultra Short Term Fund vs SBI Banking & PSU Debt Fund
Direct Plan, Growth option · Data as on 30-10-2026
Invesco India Ultra Short Term Fund is an Ultra Short fund and SBI Banking & PSU Debt Fund is a Banking & PSU fund. In the 3 years to 30-10-2026, Invesco India Ultra Short Term Fund (Direct) returned 7.3% a year and SBI Banking & PSU Debt Fund (Direct) returned 7.1% a year. Invesco India Ultra Short Term Fund charges 0.27% a year and SBI Banking & PSU Debt Fund 0.41% (Direct plans). Their portfolios overlap 11.6%: they hold 7 of the same securities.
Invesco India Ultra Short Term Fund
Ultra Short
- 3 year return
- 7.3%
- Expense ratio
- 0.27%
- NAV
- ₹3,133.58
SBI Banking & PSU Debt Fund
Banking & PSU
- 3 year return
- 7.1%
- Expense ratio
- 0.41%
- NAV
- ₹3,539.20
Which is better, Invesco India Ultra Short Term or SBI Banking & PSU Debt? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Invesco India Ultra Short Term returned more over 5 years: 6.7% a year against 6.2%.
- Invesco India Ultra Short Term returned more over 3 years: 7.3% a year against 7.1%.
- Invesco India Ultra Short Term costs less: 0.27% a year against 0.41% (Direct plans).
- Invesco India Ultra Short Term swung less over 3 years: a standard deviation of 0.4% a year against 1.0%.
- Invesco India Ultra Short Term fell less in its worst fall since 18-11-2013: −0.9% against −3.2%.
- SBI Banking & PSU Debt is the larger fund: ₹3,512 Cr against ₹1,394 Cr.
- Their portfolios overlap 11.6%: 7 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 Ultra Short Term Fund | SBI Banking & PSU Debt Fund |
|---|---|---|
| Fund house | Invesco Mutual Fund | SBI Mutual Fund |
| Category | Ultra Short | Banking & PSU |
| AUM | ₹1,394 Cr (30-09-2026) | ₹3,512 Cr (30-09-2026) |
| NAV | ₹3,133.58 (Direct) | ₹3,539.20 (Direct) |
| Expense ratio (Direct) | 0.27% | 0.41% |
| Expense ratio (Regular) | 0.79% | 0.77% |
| Riskometer | Low to Moderate | Low to Moderate |
| Benchmark | NIFTY Ultra Short Duration Debt Index A-I | NIFTY Banking & PSU Debt Index A-II |
| Launch date | 30-12-2010 | 09-10-2009 |
| Minimum investment | Not available | ₹5,000 |
| Lock in | None | None |
| Fund managers | Krishna Cheemalapati, Vikas Garg | Rajeev Radhakrishnan, Ardhendu Bhattacharya |
| Exit load | Nil | Nil |
Invesco India Ultra Short Term vs SBI Banking & PSU Debt: 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 Ultra Short Term Fund (Direct) | +0.33% | +1.51% | +3.32% | +6.55% | +7.26% | +6.67% | +6.71% |
| SBI Banking & PSU Debt Fund (Direct) | +0.14% | +0.61% | +2.84% | +4.41% | +7.07% | +6.15% | +7.06% |
| Ultra Short average | +0.30% | +1.34% | +3.06% | +6.00% | +6.82% | +6.27% | +6.43% |
| Banking & PSU average | −0.21% | +0.14% | +2.36% | +4.04% | +6.88% | +6.22% | +6.95% |
Category average: the average of the 26 Ultra Short funds and the 19 Banking & PSU funds, same plan type.
Invesco India Ultra Short Term vs SBI Banking & PSU Debt: Year-wise Returns
| Year | Invesco India Ultra Short TermInvesco India Ultra Short Term | SBI Banking & PSU DebtSBI Banking & PSU Debt |
|---|---|---|
| 2026to date | +5.48% | +3.81% |
| 2025 | +7.30% | +7.86% |
| 2024 | +7.79% | +8.20% |
| 2023 | +7.31% | +7.06% |
| 2022 | +4.78% | +3.35% |
| 2021 | +3.70% | +3.07% |
Invesco India Ultra Short Term vs SBI Banking & PSU Debt: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 2,408 of them, one for each trading day from 18-11-2016 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 Ultra Short Term Fund (Direct)
SBI Banking & PSU Debt Fund (Direct)
to
Sept 2017May 2016
to
May 2019Jan 2018
to
Jan 2021Oct 2019
to
Oct 2022Jun 2021
to
Jun 2024Jan 2023
to
Jan 2026
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 Ultra Short Term | 0.0 | 11.8 | 88.2 | 0.0 | 0.0 | 0.0 | 0.0 | 7.1% | 7.4% | 4.7% | 9.8% |
| SBI Banking & PSU Debt | 0.0 | 6.2 | 93.8 | 0.0 | 0.0 | 0.0 | 0.0 | 7.5% | 7.9% | 4.3% | 9.9% |
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 18-11-2013. Past returns do not promise future returns.
Invesco India Ultra Short Term vs SBI Banking & PSU Debt: 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 01-11-2013 to 30-10-2026: 156 instalments, ₹15,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Invesco India Ultra Short TermInvesco India Ultra Short Term Fund (Direct) | ₹15,60,000 | ₹24,75,030 | ₹9,15,030 | 6.8% |
| SBI Banking & PSU DebtSBI Banking & PSU Debt Fund (Direct) | ₹15,60,000 | ₹25,09,437 | ₹9,49,437 | 7.0% |
Invesco India Ultra Short TermInvesco India Ultra Short Term Fund (Direct)
SBI Banking & PSU DebtSBI Banking & PSU Debt 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 Ultra Short Term vs SBI Banking & PSU Debt: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Invesco India Ultra Short Term Fund (Direct) | SBI Banking & PSU Debt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.55% | +4.41% |
| Standard deviation | 0.44% | 1.05% |
| Sharpe ratio | 2.93 | -0.79 |
| Sortino ratio | 5.02 | -1.09 |
| Maximum drawdown | −0.1% (22-10-2026) | −0.6% (02-04-2026) |
| 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 Ultra Short Term Fund (Direct) | SBI Banking & PSU Debt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.26% | +7.07% |
| Standard deviation | 0.37% | 1.01% |
| Sharpe ratio | 3.34 | 1.04 |
| Sortino ratio | 6.66 | 1.57 |
| Maximum drawdown | −0.1% (22-10-2026) | −0.6% (02-04-2026) |
| 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 Ultra Short Term Fund (Direct) | SBI Banking & PSU Debt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.67% | +6.15% |
| Standard deviation | 0.36% | 0.97% |
| Sharpe ratio | 2.40 | 0.36 |
| Sortino ratio | 4.27 | 0.50 |
| Maximum drawdown | −0.3% (06-05-2022) | −1.1% (09-05-2022) |
| 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 | Invesco India Ultra Short Term Fund (Direct) | SBI Banking & PSU Debt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.32% | +7.65% |
| Standard deviation | 0.86% | 1.33% |
| Sharpe ratio | 1.48 | 1.31 |
| Sortino ratio | 2.04 | 2.12 |
| Maximum drawdown | −2.7% (24-07-2013) | −3.2% (23-03-2020) |
| 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.
Invesco India Ultra Short Term Fund (Direct)
SBI Banking & PSU Debt Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Invesco India Ultra Short Term Fund (Direct) | −0.9% | 11-03-2020 | 24-03-2020 | 27-03-2020 | 3 days | 0.0% |
| SBI Banking & PSU Debt Fund (Direct) | −3.2% | 06-03-2020 | 23-03-2020 | 20-04-2020 | 28 days | −0.0% |
From daily values since 18-11-2013, 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 Ultra Short Term Fund (Direct)
SBI Banking & PSU Debt 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 Ultra Short Term Fund (Direct)
SBI Banking & PSU Debt 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 Ultra Short Term Fund (Direct)
SBI Banking & PSU Debt Fund (Direct)
Invesco India Ultra Short Term vs SBI Banking & PSU Debt: Portfolio Overlap
From each fund's latest monthly portfolio: Invesco India Ultra Short Term Fund, September 2026; SBI Banking & PSU Debt Fund, September 2026
Holdings in common
- Overlap
- 11.6%
- Held by both
- 7
- Only in Invesco India Ultra Short Term
- 35
- Only in SBI Banking & PSU Debt
- 34
| Security | % of Invesco India Ultra Short Term | % of SBI Banking & PSU Debt |
|---|---|---|
| Axis Bank Limited 2027 | 2.44% | 2.77% |
| 7.8% National Bank For Agriculture and Rural Development 2027 | 7.54% | 2.14% |
| 4.04% Government of India 2028 | 1.81% | 4.16% |
| Bank of Baroda 2027 | 1.76% | 3.48% |
| HDFC Bank Limited 2027 | 1.75% | 4.16% |
| Punjab National Bank 2027 | 4.20% | 1.39% |
| Corporate Debt Market Development Fund Class A2 | 0.30% | 0.43% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 11.6% means 11.6% 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 Ultra Short Term Fund
| Security | % of fund |
|---|---|
| Canara Bank 2027 | 6.27% |
| 7.96% Pipeline Infrastructure Private Limited 2027 | 4.31% |
| Kotak Mahindra Bank Limited 2027 | 3.51% |
| ICICI Bank Limited 2027 | 3.51% |
| Kotak Mahindra Bank Limited 2027 | 3.50% |
Largest holdings only in SBI Banking & PSU Debt Fund
| Security | % of fund |
|---|---|
| Small Industries Development Bank of India | 5.41% |
| Canara Bank | 5.41% |
| ONGC Petro Additions Ltd. | 4.99% |
| GAIL (India) Ltd. | 4.97% |
| HDFC Bank Ltd. | 4.19% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Invesco India Ultra Short Term | SBI Banking & PSU Debt |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 97.7% | 89.8% |
| Cash and others | 2.3% | 10.2% |
Invesco India Ultra Short Term vs SBI Banking & PSU Debt: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Invesco India Ultra Short Term Fund | SBI Banking & PSU Debt Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.27% | 0.41% |
| Base expense ratio (Direct) | 0.21% | 0.34% |
| Total expense ratio (Regular) | 0.79% | 0.77% |
| Base expense ratio (Regular) | 0.67% | 0.65% |
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 Ultra Short Term with
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- Invesco India Ultra Short Term vs Mirae Asset Ultra Short-Term
- Invesco India Ultra Short Term vs ICICI Prudential Ultra Short Term
Invesco India Ultra Short Term Fund vs SBI Banking & PSU Debt Fund: Frequently Asked Questions
What is the difference between Invesco India Ultra Short Term Fund and SBI Banking & PSU Debt Fund?
Invesco India Ultra Short Term Fund is an Ultra Short fund, SBI Banking & PSU Debt Fund is a Banking & PSU fund, run by Invesco Mutual Fund and SBI Mutual Fund. Their portfolios overlap 11.6%. Invesco India Ultra Short Term Fund charges 0.27% a year and SBI Banking & PSU Debt Fund 0.41%.
Which has given higher returns, Invesco India Ultra Short Term Fund or SBI Banking & PSU Debt Fund?
Over 1 year: Invesco India Ultra Short Term Fund +6.55%, SBI Banking & PSU Debt Fund +4.41%. Over 3 years: Invesco India Ultra Short Term Fund +7.26% a year, SBI Banking & PSU Debt Fund +7.07% a year. Over 5 years: Invesco India Ultra Short Term Fund +6.67% a year, SBI Banking & PSU Debt Fund +6.15% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Invesco India Ultra Short Term Fund or SBI Banking & PSU Debt Fund?
Invesco India Ultra Short Term Fund charges less: 0.27% a year against 0.41%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Invesco India Ultra Short Term Fund and SBI Banking & PSU Debt Fund overlap?
11.6%. They hold 7 of the same securities, the largest shared ones being Axis Bank Limited 2027, 7.8% National Bank For Agriculture and Rural Development 2027, 4.04% Government of India 2028. From each fund's latest monthly portfolio.
Which is riskier, Invesco India Ultra Short Term Fund or SBI Banking & PSU Debt Fund?
On SEBI's riskometer, Invesco India Ultra Short Term Fund is rated Low to Moderate and SBI Banking & PSU Debt Fund Low to Moderate. Over 3 years, the standard deviation of daily returns was 0.37% and 1.01% a year.
Which is better for SIP, Invesco India Ultra Short Term Fund or SBI Banking & PSU Debt Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,30,470 in Invesco India Ultra Short Term Fund (XIRR 7.0% a year) and ₹7,21,304 in SBI Banking & PSU Debt Fund (XIRR 6.5% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Invesco India Ultra Short Term Fund and SBI Banking & PSU Debt Fund?
Yes. 11.6% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Invesco India Ultra Short Term Fund and SBI Banking & PSU Debt Fund?
Invesco India Ultra Short Term Fund: Krishna Cheemalapati, Vikas Garg. SBI Banking & PSU Debt Fund: Rajeev Radhakrishnan, Ardhendu Bhattacharya.
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.