JM Dynamic Term Fund vs JM Ultra Short to Short Term Fund
Direct Plan, Growth option · Data as on 30-10-2026
JM Dynamic Term Fund is a Dynamic Bond fund and JM Ultra Short to Short Term Fund is a Low Duration fund. In the 3 years to 30-10-2026, JM Dynamic Term Fund (Direct) returned 6.5% a year and JM Ultra Short to Short Term Fund (Direct) returned 7.1% a year. JM Dynamic Term Fund charges 0.44% a year and JM Ultra Short to Short Term Fund 0.41% (Direct plans). Their portfolios overlap 21.2%: they hold 7 of the same securities.
JM Dynamic Term Fund
Dynamic Bond
- 3 year return
- 6.5%
- Expense ratio
- 0.44%
- NAV
- ₹46.33
JM Ultra Short to Short Term Fund
Low Duration
- 3 year return
- 7.1%
- Expense ratio
- 0.41%
- NAV
- ₹41.21
Which is better, JM Dynamic Term or JM 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.
- JM Ultra Short to Short Term returned more over 5 years: 6.5% a year against 5.9%.
- JM Ultra Short to Short Term returned more over 3 years: 7.1% a year against 6.5%.
- JM Ultra Short to Short Term costs less: 0.41% a year against 0.44% (Direct plans).
- JM Ultra Short to Short Term swung less over 3 years: a standard deviation of 0.5% a year against 1.8%.
- JM Dynamic Term fell less in its worst fall since 25-05-2018: −3.0% against −15.0%.
- JM Ultra Short to Short Term is the larger fund: ₹236 Cr against ₹52 Cr.
- Their portfolios overlap 21.2%: 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 | JM Dynamic Term Fund | JM Ultra Short to Short Term Fund |
|---|---|---|
| Fund house | JM Financial Mutual Fund | JM Financial Mutual Fund |
| Category | Dynamic Bond | Low Duration |
| AUM | ₹52 Cr (30-09-2026) | ₹236 Cr (30-09-2026) |
| NAV | ₹46.33 (Direct) | ₹41.21 (Direct) |
| Expense ratio (Direct) | 0.44% | 0.41% |
| Expense ratio (Regular) | 0.93% | 0.84% |
| Riskometer | Moderate | Low to Moderate |
| Benchmark | CRISIL Dynamic Bond A-III Index | CRISIL Low Duration Debt A-I Index |
| Launch date | 25-06-2003 | 27-09-2006 |
| Minimum investment | ₹1,000 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Killol Pandya, Ruchi Fozdar, Jayant Dhoot | Killol Pandya, Ruchi Fozdar, Jayant Dhoot |
| Exit load | Nil | Nil |
JM Dynamic Term vs JM 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 |
|---|---|---|---|---|---|---|---|
| JM Dynamic Term Fund (Direct) | −0.20% | −0.15% | +1.86% | +2.59% | +6.51% | +5.92% | +6.50% |
| JM Ultra Short to Short Term Fund (Direct) | +0.21% | +1.19% | +2.97% | +5.77% | +7.13% | +6.50% | -- |
| Dynamic Bond average | −0.48% | −0.66% | +1.80% | +3.05% | +6.70% | +5.98% | +6.68% |
| Low Duration average | +0.18% | +1.12% | +2.95% | +5.79% | +7.22% | +6.58% | -- |
Category average: the average of the 22 Dynamic Bond funds and the 25 Low Duration funds, same plan type.
JM Dynamic Term vs JM Ultra Short to Short Term: Year-wise Returns
| Year | DynamicJM Dynamic Term | Ultra Short to ShortJM Ultra Short to Short Term |
|---|---|---|
| 2026to date | +2.11% | +4.76% |
| 2025 | +7.51% | +7.64% |
| 2024 | +8.50% | +7.81% |
| 2023 | +6.66% | +7.05% |
| 2022 | +4.22% | +4.58% |
| 2021 | +3.44% | +3.44% |
JM Dynamic Term vs JM Ultra Short to Short Term: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 1,317 of them, one for each trading day from 25-05-2021 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.
JM Dynamic Term Fund (Direct)
JM Ultra Short to Short Term Fund (Direct)
to
Oct 2021Oct 2019
to
Oct 2022Sept 2020
to
Sept 2023Aug 2021
to
Aug 2024Jul 2022
to
Jul 2025May 2023
to
May 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| JM Dynamic Term | 0.0 | 9.3 | 90.7 | 0.0 | 0.0 | 0.0 | 0.0 | 6.2% | 6.2% | 4.6% | 8.4% |
| JM Ultra Short to Short Term | 0.0 | 17.1 | 70.2 | 12.7 | 0.0 | 0.0 | 0.0 | 7.0% | 6.7% | 4.4% | 11.6% |
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 25-05-2018. Past returns do not promise future returns.
JM Dynamic Term vs JM 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 02-05-2018 to 30-10-2026: 102 instalments, ₹10,20,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| JM Dynamic TermJM Dynamic Term Fund (Direct) | ₹10,20,000 | ₹13,17,776 | ₹2,97,776 | 5.9% |
| JM Ultra Short to Short TermJM Ultra Short to Short Term Fund (Direct) | ₹10,20,000 | ₹13,72,735 | ₹3,52,735 | 6.8% |
JM Dynamic TermJM Dynamic Term Fund (Direct)
JM Ultra Short to Short TermJM 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.
JM Dynamic Term vs JM 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 | JM Dynamic Term Fund (Direct) | JM Ultra Short to Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +2.59% | +5.77% |
| Standard deviation | 1.48% | 0.58% |
| Sharpe ratio | -1.79 | 0.91 |
| Sortino ratio | -2.30 | 1.35 |
| Maximum drawdown | −1.1% (02-04-2026) | −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 | JM Dynamic Term Fund (Direct) | JM Ultra Short to Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.51% | +7.13% |
| Standard deviation | 1.79% | 0.47% |
| Sharpe ratio | 0.27 | 2.34 |
| Sortino ratio | 0.39 | 4.00 |
| Maximum drawdown | −1.2% (26-08-2025) | −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 | JM Dynamic Term Fund (Direct) | JM Ultra Short to Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.92% | +6.50% |
| Standard deviation | 1.54% | 0.44% |
| Sharpe ratio | 0.07 | 1.59 |
| Sortino ratio | 0.11 | 2.52 |
| Maximum drawdown | −1.2% (26-08-2025) | −0.3% (06-05-2022) |
| 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 | JM Dynamic Term Fund (Direct) | JM Ultra Short to Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.23% | +6.09% |
| Standard deviation | 1.33% | 7.91% |
| Sharpe ratio | 0.89 | 0.10 |
| Sortino ratio | 1.42 | 0.20 |
| Maximum drawdown | −3.0% (24-03-2020) | −15.0% (29-10-2019) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 03-01-2013 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.
JM Dynamic Term Fund (Direct)
JM 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 |
|---|---|---|---|---|---|---|
| JM Dynamic Term Fund (Direct) | −3.0% | 06-03-2020 | 24-03-2020 | 20-04-2020 | 27 days | −0.6% |
| JM Ultra Short to Short Term Fund (Direct) | −15.0% | 10-05-2019 | 29-10-2019 | 06-07-2020 | 8 months | 0.0% |
From daily values since 25-05-2018, 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.
JM Dynamic Term Fund (Direct)
JM 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.
JM Dynamic Term Fund (Direct)
JM 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.
JM Dynamic Term Fund (Direct)
JM Ultra Short to Short Term Fund (Direct)
JM Dynamic Term vs JM Ultra Short to Short Term: Portfolio Overlap
From each fund's latest monthly portfolio: JM Dynamic Term Fund, September 2026; JM Ultra Short to Short Term Fund, September 2026
Holdings in common
- Overlap
- 21.2%
- Held by both
- 7
- Only in JM Dynamic Term
- 8
- Only in JM Ultra Short to Short Term
- 27
| Security | % of JM Dynamic Term | % of JM Ultra Short to Short Term |
|---|---|---|
| Punjab National Bank 04-MAR-2027 | 7.46% | 7.00% |
| 7.23% Power Finance Corporation Limited 05-JAN-2027 | 8.64% | 4.66% |
| HDFC Bank Limited 05-MAR-2027 | 7.46% | 2.88% |
| 8.6% Muthoot Finance Limited 02-MAR-2028 | 4.78% | 2.11% |
| 7.9% Mahindra & Mahindra Financial Serv Ltd. 21-FEB-2028 | 5.74% | 2.11% |
| 7.04% SIDBI 09-FEB-2029 | 7.54% | 2.08% |
| Corporate Debt Market Development Fund - Class A2 Units | 0.34% | 0.31% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 21.2% means 21.2% 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 JM Dynamic Term Fund
| Security | % of fund |
|---|---|
| 6.36% GOI 16-Feb-2031 | 12.24% |
| 7.5% REC Limited 28-FEB-2030 | 8.55% |
| 7.48% NABARD 15-SEP-2028 | 7.64% |
| 7.9% Bajaj Finance Limited 13-APR-2028 | 5.74% |
| 7.08% Bajaj Housing Finance Ltd 12-JUN-2030 | 5.54% |
Largest holdings only in JM Ultra Short to Short Term Fund
| Security | % of fund |
|---|---|
| Canara Bank 29-JAN-2027 | 8.29% |
| Indian Bank 05-FEB-2027 | 7.45% |
| Union Bank of India 16-MAR-2027 | 6.99% |
| 8.75% Piramal Finance Ltd 29-OCT-2027 | 4.24% |
| 8.4% Godrej Industries Ltd 27-AUG-2027 | 4.24% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | JM Dynamic Term | JM Ultra Short to Short Term |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 92.5% | 96.7% |
| Cash and others | 7.5% | 3.3% |
JM Dynamic Term vs JM Ultra Short to Short Term: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | JM Dynamic Term Fund | JM Ultra Short to Short Term Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.44% | 0.41% |
| Base expense ratio (Direct) | 0.37% | 0.35% |
| Total expense ratio (Regular) | 0.93% | 0.84% |
| Base expense ratio (Regular) | 0.80% | 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 JM Dynamic Term with
Compare JM Ultra Short to Short Term with
- JM Ultra Short to Short Term vs HSBC Ultra Short to Short Term
- JM Ultra Short to Short Term vs Nippon India Ultra Short to Short Term
- JM Ultra Short to Short Term vs Axis Ultra Short to Short Term
- JM Ultra Short to Short Term vs Kotak Ultra Short to Short Term
- JM Ultra Short to Short Term vs Mirae Asset Ultra Short to Short Term
JM Dynamic Term Fund vs JM Ultra Short to Short Term Fund: Frequently Asked Questions
What is the difference between JM Dynamic Term Fund and JM Ultra Short to Short Term Fund?
JM Dynamic Term Fund is a Dynamic Bond fund, JM Ultra Short to Short Term Fund is a Low Duration fund, run by JM Financial Mutual Fund. Their portfolios overlap 21.2%. JM Dynamic Term Fund charges 0.44% a year and JM Ultra Short to Short Term Fund 0.41%.
Which has given higher returns, JM Dynamic Term Fund or JM Ultra Short to Short Term Fund?
Over 1 year: JM Dynamic Term Fund +2.59%, JM Ultra Short to Short Term Fund +5.77%. Over 3 years: JM Dynamic Term Fund +6.51% a year, JM Ultra Short to Short Term Fund +7.13% a year. Over 5 years: JM Dynamic Term Fund +5.92% a year, JM Ultra Short to Short Term Fund +6.50% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, JM Dynamic Term Fund or JM Ultra Short to Short Term Fund?
JM Ultra Short to Short Term Fund charges less: 0.41% a year against 0.44%. These are the Direct plans' total expense ratios reported to AMFI.
How much do JM Dynamic Term Fund and JM Ultra Short to Short Term Fund overlap?
21.2%. They hold 7 of the same securities, the largest shared ones being Punjab National Bank 04-MAR-2027, 7.23% Power Finance Corporation Limited 05-JAN-2027, HDFC Bank Limited 05-MAR-2027. From each fund's latest monthly portfolio.
Which is riskier, JM Dynamic Term Fund or JM Ultra Short to Short Term Fund?
On SEBI's riskometer, JM Dynamic Term Fund is rated Moderate and JM Ultra Short to Short Term Fund Low to Moderate. Over 3 years, the standard deviation of daily returns was 1.79% and 0.47% a year.
Which is better for SIP, JM Dynamic Term Fund or JM 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 ₹7,08,716 in JM Dynamic Term Fund (XIRR 5.8% a year) and ₹7,26,565 in JM Ultra Short to Short Term Fund (XIRR 6.8% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both JM Dynamic Term Fund and JM Ultra Short to Short Term Fund?
Yes. 21.2% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages JM Dynamic Term Fund and JM Ultra Short to Short Term Fund?
JM Dynamic Term Fund: Killol Pandya, Ruchi Fozdar, Jayant Dhoot. JM Ultra Short to Short Term Fund: Killol Pandya, Ruchi Fozdar, Jayant Dhoot.
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.