Kotak Ultra Short to Short Term Fund vs Union Ultra Short to Short Term Fund
Direct Plan, Growth option · Data as on 30-10-2026
Kotak Ultra Short to Short Term Fund and Union Ultra Short to Short Term Fund are both Low Duration funds. In the year to 30-10-2026, Kotak Ultra Short to Short Term Fund (Direct) returned 5.7% and Union Ultra Short to Short Term Fund (Direct) returned 5.3%. Kotak Ultra Short to Short Term Fund charges 0.41% a year and Union Ultra Short to Short Term Fund 0.26% (Direct plans). Their portfolios overlap 0.7%: they hold 2 of the same securities.
Kotak Ultra Short to Short Term Fund
Low Duration
- 1 year return
- 5.7%
- Expense ratio
- 0.41%
- NAV
- ₹3,948.32
Union Ultra Short to Short Term Fund
Low Duration
- 1 year return
- 5.3%
- Expense ratio
- 0.26%
- NAV
- ₹10.72
Which is better, Kotak Ultra Short to Short Term or Union 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.
- Kotak Ultra Short to Short Term returned more over 1 year: 5.7% against 5.3%.
- Union Ultra Short to Short Term costs less: 0.26% a year against 0.41% (Direct plans).
- Kotak Ultra Short to Short Term fell less in its worst fall since 18-07-2025: −0.2% against −0.3%.
- Kotak Ultra Short to Short Term is the larger fund: ₹12,566 Cr against ₹228 Cr.
- Their portfolios overlap 0.7%: 2 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 | Kotak Ultra Short to Short Term Fund | Union Ultra Short to Short Term Fund |
|---|---|---|
| Fund house | Kotak Mahindra Mutual Fund | Union Mutual Fund |
| Category | Low Duration | Low Duration |
| AUM | ₹12,566 Cr (30-09-2026) | ₹228 Cr (30-09-2026) |
| NAV | ₹3,948.32 (Direct) | ₹10.72 (Direct) |
| Expense ratio (Direct) | 0.41% | 0.26% |
| Expense ratio (Regular) | 1.18% | 0.86% |
| Riskometer | Low to Moderate | Low to Moderate |
| Benchmark | NIFTY Low Duration Debt Index A-I | Nifty Low Duration Debt Index A-I $ $ Nifty Benchmark Disclaimer: The Product(s) are not sponsored, endorsed, sold or pr |
| Launch date | 06-03-2008 | 16-07-2025 |
| Minimum investment | ₹100 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Dharmesh Thakkar, Deepak Agrawal | Anindya Sarkar, Devesh Thacker |
| Exit load | Nil | NIL |
Kotak Ultra Short to Short Term vs Union 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 |
|---|---|---|---|---|---|---|---|
| Kotak Ultra Short to Short Term Fund (Direct) | +0.13% | +0.98% | +2.86% | +5.73% | +7.33% | +6.70% | +7.25% |
| Union Ultra Short to Short Term Fund (Direct) | +0.12% | +0.98% | +2.75% | +5.28% | -- | -- | -- |
| Low Duration average | +0.18% | +1.12% | +2.95% | +5.79% | -- | -- | -- |
Category average: the average of the 25 Low Duration funds, same plan type.
Kotak Ultra Short to Short Term vs Union Ultra Short to Short Term: Year-wise Returns
| Year | KotakKotak Ultra Short to Short Term | UnionUnion Ultra Short to Short Term |
|---|---|---|
| 2026to date | +4.74% | +4.31% |
| 2025 | +7.86% | -- |
| 2024 | +8.19% | -- |
| 2023 | +7.49% | -- |
| 2022 | +4.68% | -- |
| 2021 | +4.26% | -- |
Kotak Ultra Short to Short Term vs Union Ultra Short to Short Term: Rolling Returns
Every holding period of both funds
Rolling returns
Every 1-year holding period, 69 of them, one for each trading day from 20-07-2026 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.
Kotak Ultra Short to Short Term Fund (Direct)
Union Ultra Short to Short Term Fund (Direct)
to
Jul 2026Aug 2025
to
Aug 2026Aug 2025
to
Aug 2026Sept 2025
to
Sept 2026Oct 2025
to
Oct 2026Oct 2025
to
Oct 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Kotak Ultra Short to Short Term | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 6.3% | 6.4% | 5.7% | 6.7% |
| Union Ultra Short to Short Term | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 5.8% | 5.9% | 5.3% | 6.2% |
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 18-07-2025. Past returns do not promise future returns.
Kotak Ultra Short to Short Term vs Union 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 01-07-2025 to 30-10-2026: 16 instalments, ₹1,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Kotak Ultra Short to Short TermKotak Ultra Short to Short Term Fund (Direct) | ₹1,60,000 | ₹1,66,428 | ₹6,428 | 5.7% |
| Union Ultra Short to Short TermUnion Ultra Short to Short Term Fund (Direct) | ₹1,60,000 | ₹1,65,901 | ₹5,901 | 5.3% |
Kotak Ultra Short to Short TermKotak Ultra Short to Short Term Fund (Direct)
Union Ultra Short to Short TermUnion 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.
Kotak Ultra Short to Short Term vs Union 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 | Kotak Ultra Short to Short Term Fund (Direct) | Union Ultra Short to Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.73% | +5.28% |
| Standard deviation | 0.63% | 0.67% |
| Sharpe ratio | 0.77 | 0.05 |
| Sortino ratio | 1.16 | 0.07 |
| Maximum drawdown | −0.2% (21-05-2026) | −0.3% (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 | Kotak Ultra Short to Short Term Fund (Direct) | Union Ultra Short to Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.62% | +5.44% |
| Standard deviation | 0.77% | 0.61% |
| Sharpe ratio | 2.59 | 0.22 |
| Sortino ratio | 4.49 | 0.31 |
| Maximum drawdown | −1.5% (24-03-2020) | −0.3% (21-05-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 02-02-2015 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.
Kotak Ultra Short to Short Term Fund (Direct)
Union 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 |
|---|---|---|---|---|---|---|
| Kotak Ultra Short to Short Term Fund (Direct) | −0.2% | 11-05-2026 | 21-05-2026 | 03-06-2026 | 13 days | −0.0% |
| Union Ultra Short to Short Term Fund (Direct) | −0.3% | 08-05-2026 | 21-05-2026 | 01-06-2026 | 11 days | −0.0% |
From daily values since 18-07-2025, 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.
Kotak Ultra Short to Short Term Fund (Direct)
Union Ultra Short to Short Term Fund (Direct)
Kotak Ultra Short to Short Term vs Union Ultra Short to Short Term: Portfolio Overlap
From each fund's latest monthly portfolio: Kotak Ultra Short to Short Term Fund, September 2026; Union Ultra Short to Short Term Fund, September 2026
Holdings in common
- Overlap
- 0.7%
- Held by both
- 2
- Only in Kotak Ultra Short to Short Term
- 101
- Only in Union Ultra Short to Short Term
- 7
| Security | % of Kotak Ultra Short to Short Term | % of Union Ultra Short to Short Term |
|---|---|---|
| BANK OF BARODA | 0.39% | 10.63% |
| SBI ALTERNATIVE INVESTMENT FUND | 0.35% | 1.34% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 0.7% means 0.7% 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 Kotak Ultra Short to Short Term Fund
| Security | % of fund |
|---|---|
| Karnataka State Govt - 2031 - Karnataka(^) | 3.93% |
| PUNJAB NATIONAL BANK | 3.87% |
| NATIONAL BANK FOR AGRICULTURE & RURAL DEVELOPMENT | 3.78% |
| JTPM METAL TRADERS PVT LTD ( CATALYST TRUSTEESHIP LIMITE) (^) | 3.44% |
| BAJAJ HOUSING FINANCE LTD.(^) | 3.16% |
Largest holdings only in Union Ultra Short to Short Term Fund
| Security | % of fund |
|---|---|
| Jamnagar Utilities & Power Pvt. Ltd. | 10.94% |
| Tata Capital Housing Finance Ltd. | 10.88% |
| Power Finance Corporation Ltd. | 10.84% |
| REC Ltd. | 10.79% |
| ICICI Bank Ltd. | 10.61% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Kotak Ultra Short to Short Term | Union Ultra Short to Short Term |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 98.1% | 79.8% |
| Cash and others | 1.9% | 20.2% |
Kotak Ultra Short to Short Term vs Union Ultra Short to Short Term: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Kotak Ultra Short to Short Term Fund | Union Ultra Short to Short Term Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.41% | 0.26% |
| Base expense ratio (Direct) | 0.35% | 0.21% |
| Total expense ratio (Regular) | 1.18% | 0.86% |
| Base expense ratio (Regular) | 1.00% | 0.72% |
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 Kotak Ultra Short to Short Term with
Compare Union Ultra Short to Short Term with
Kotak Ultra Short to Short Term Fund vs Union Ultra Short to Short Term Fund: Frequently Asked Questions
What is the difference between Kotak Ultra Short to Short Term Fund and Union Ultra Short to Short Term Fund?
Both are Low Duration funds, run by Kotak Mahindra Mutual Fund and Union Mutual Fund. Their portfolios overlap 0.7%. Kotak Ultra Short to Short Term Fund charges 0.41% a year and Union Ultra Short to Short Term Fund 0.26%.
Which has given higher returns, Kotak Ultra Short to Short Term Fund or Union Ultra Short to Short Term Fund?
Over 1 year: Kotak Ultra Short to Short Term Fund +5.73%, Union Ultra Short to Short Term Fund +5.28%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Kotak Ultra Short to Short Term Fund or Union Ultra Short to Short Term Fund?
Union Ultra Short to Short Term Fund charges less: 0.26% a year against 0.41%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Kotak Ultra Short to Short Term Fund and Union Ultra Short to Short Term Fund overlap?
0.7%. They hold 2 of the same securities, the largest shared ones being BANK OF BARODA, SBI ALTERNATIVE INVESTMENT FUND. From each fund's latest monthly portfolio.
Which is riskier, Kotak Ultra Short to Short Term Fund or Union Ultra Short to Short Term Fund?
On SEBI's riskometer, Kotak Ultra Short to Short Term Fund is rated Low to Moderate and Union Ultra Short to Short Term Fund Low to Moderate. Over 1 years, the standard deviation of daily returns was 0.63% and 0.67% a year.
Can I invest in both Kotak Ultra Short to Short Term Fund and Union Ultra Short to Short Term Fund?
Yes. 0.7% of each fund's money sits in the same holdings, so the two hold mostly different investments.
Who manages Kotak Ultra Short to Short Term Fund and Union Ultra Short to Short Term Fund?
Kotak Ultra Short to Short Term Fund: Dharmesh Thakkar, Deepak Agrawal. Union Ultra Short to Short Term Fund: Anindya Sarkar, Devesh Thacker.
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.