Mahindra Manulife Short Term Fund vs UTI Short Term Fund
Direct Plan, Growth option · Data as on 30-10-2026
Mahindra Manulife Short Term Fund and UTI Short Term Fund are both Short Duration funds. In the 3 years to 30-10-2026, Mahindra Manulife Short Term Fund (Direct) returned 7.5% a year and UTI Short Term Fund (Direct) returned 7.1% a year. Mahindra Manulife Short Term Fund charges 0.33% a year and UTI Short Term Fund 0.41% (Direct plans). Their portfolios overlap 0.3%: they hold 1 of the same security.
Mahindra Manulife Short Term Fund
Short Duration
- 3 year return
- 7.5%
- Expense ratio
- 0.33%
- NAV
- ₹14.25
UTI Short Term Fund
Short Duration
- 3 year return
- 7.1%
- Expense ratio
- 0.41%
- NAV
- ₹35.99
Which is better, Mahindra Manulife Short Term or UTI 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.
- Mahindra Manulife Short Term returned more over 5 years: 6.5% a year against 6.4%.
- Mahindra Manulife Short Term returned more over 3 years: 7.5% a year against 7.1%.
- Mahindra Manulife Short Term costs less: 0.33% a year against 0.41% (Direct plans).
- UTI Short Term swung less over 3 years: a standard deviation of 0.9% a year against 0.9%.
- UTI Short Term fell less in its worst fall since 25-02-2021: −0.7% against −1.1%.
- UTI Short Term is the larger fund: ₹1,770 Cr against ₹79 Cr.
- Their portfolios overlap 0.3%: 1 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 | Mahindra Manulife Short Term Fund | UTI Short Term Fund |
|---|---|---|
| Fund house | Mahindra Manulife Mutual Fund | UTI Mutual Fund |
| Category | Short Duration | Short Duration |
| AUM | ₹79 Cr (30-09-2026) | ₹1,770 Cr (30-09-2026) |
| NAV | ₹14.25 (Direct) | ₹35.99 (Direct) |
| Expense ratio (Direct) | 0.33% | 0.41% |
| Expense ratio (Regular) | 1.24% | 0.81% |
| Riskometer | Moderate | Moderate |
| Benchmark | CRISIL Short Duration Debt A-II Index | CRISIL Short Duration Debt A-II Index |
| Launch date | 23-02-2021 | 29-08-2003 |
| Minimum investment | ₹1,000 | Regular Plan-Monthly Reinvestment of IDCW- Rs.20000, Regular Plan-Monthly Payout of IDCW- Rs.20000, Regular Plan-Quarterly Reinvestment of IDCW- Rs.20000, Regular Plan-Quarterly Payout of IDCW- Rs.20000, Regular Plan-Growth- Rs.500, Regular Plan-Half-year |
| Lock in | None | None |
| Fund managers | Rahul Pal, Kush Sonigara | Anurag Mittal FM 1, Not Applicable FM 2, Not Applicable FM 3, Not Applicable FM 4 |
| Exit load | Nil | Nil |
Mahindra Manulife Short Term vs UTI 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 |
|---|---|---|---|---|---|---|---|
| Mahindra Manulife Short Term Fund (Direct) | −0.29% | +0.05% | +2.45% | +4.78% | +7.49% | +6.52% | -- |
| UTI Short Term Fund (Direct) | −0.19% | +0.15% | +2.34% | +4.24% | +7.09% | +6.43% | +6.26% |
| Short Duration average | −0.14% | +0.30% | +2.50% | +4.11% | +6.88% | +6.62% | +6.89% |
Category average: the average of the 25 Short Duration funds, same plan type.
Mahindra Manulife Short Term vs UTI Short Term: Year-wise Returns
| Year | Mahindra ManulifeMahindra Manulife Short Term | UTIUTI Short Term |
|---|---|---|
| 2026to date | +3.86% | +3.49% |
| 2025 | +8.19% | +7.81% |
| 2024 | +8.54% | +8.42% |
| 2023 | +7.65% | +7.59% |
| 2022 | +3.72% | +4.41% |
| 2021 | -- | +9.04% |
Mahindra Manulife Short Term vs UTI Short Term: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 648 of them, one for each trading day from 26-02-2024 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.
Mahindra Manulife Short Term Fund (Direct)
UTI Short Term Fund (Direct)
to
May 2024Oct 2021
to
Oct 2024Apr 2022
to
Apr 2025Sept 2022
to
Sept 2025Mar 2023
to
Mar 2026Aug 2023
to
Aug 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Mahindra Manulife Short Term | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7.3% | 7.7% | 5.7% | 8.4% |
| UTI Short Term | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7.6% | 7.7% | 6.5% | 8.2% |
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 25-02-2021. Past returns do not promise future returns.
Mahindra Manulife Short Term vs UTI 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 25-02-2021 to 30-10-2026: 69 instalments, ₹6,90,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Mahindra Manulife Short TermMahindra Manulife Short Term Fund (Direct) | ₹6,90,000 | ₹8,39,210 | ₹1,49,210 | 6.7% |
| UTI Short TermUTI Short Term Fund (Direct) | ₹6,90,000 | ₹8,39,572 | ₹1,49,572 | 6.8% |
Mahindra Manulife Short TermMahindra Manulife Short Term Fund (Direct)
UTI Short TermUTI 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.
Mahindra Manulife Short Term vs UTI Short Term: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Mahindra Manulife Short Term Fund (Direct) | UTI Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +4.78% | +4.24% |
| Standard deviation | 1.19% | 1.13% |
| Sharpe ratio | -0.39 | -0.89 |
| Sortino ratio | -0.54 | -1.19 |
| Maximum drawdown | −0.6% (23-10-2026) | −0.6% (23-10-2026) |
| 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 | Mahindra Manulife Short Term Fund (Direct) | UTI Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.49% | +7.09% |
| Standard deviation | 0.93% | 0.92% |
| Sharpe ratio | 1.56 | 1.15 |
| Sortino ratio | 2.36 | 1.73 |
| Maximum drawdown | −0.6% (23-10-2026) | −0.6% (23-10-2026) |
| 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 | Mahindra Manulife Short Term Fund (Direct) | UTI Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.52% | +6.43% |
| Standard deviation | 0.95% | 0.87% |
| Sharpe ratio | 0.76 | 0.72 |
| Sortino ratio | 1.06 | 1.02 |
| Maximum drawdown | −1.1% (09-05-2022) | −0.7% (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 | Mahindra Manulife Short Term Fund (Direct) | UTI Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.43% | +7.25% |
| Standard deviation | 0.92% | 3.18% |
| Sharpe ratio | 1.02 | 0.38 |
| Sortino ratio | 1.43 | 0.42 |
| Maximum drawdown | −1.1% (09-05-2022) | −13.2% (10-06-2019) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 25-02-2021 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.
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.
Mahindra Manulife Short Term Fund (Direct)
UTI Short Term Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Mahindra Manulife Short Term Fund (Direct) | −1.1% | 07-04-2022 | 09-05-2022 | 13-07-2022 | 2 months | −0.5% |
| UTI Short Term Fund (Direct) | −0.7% | 02-05-2022 | 06-05-2022 | 04-07-2022 | 59 days | −0.4% |
From daily values since 25-02-2021, 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.
Mahindra Manulife Short Term Fund (Direct)
UTI 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.
Mahindra Manulife Short Term Fund (Direct)
UTI 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.
Mahindra Manulife Short Term Fund (Direct)
UTI Short Term Fund (Direct)
Mahindra Manulife Short Term vs UTI Short Term: Portfolio Overlap
From each fund's latest monthly portfolio: Mahindra Manulife Short Term Fund, September 2026; UTI Short Term Fund, September 2026
Holdings in common
- Overlap
- 0.3%
- Held by both
- 1
- Only in Mahindra Manulife Short Term
- 22
- Only in UTI Short Term
- 35
| Security | % of Mahindra Manulife Short Term | % of UTI Short Term |
|---|---|---|
| Corporate Debt Market Development Fund Class A2 | 0.33% | 0.53% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 0.3% means 0.3% 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 Mahindra Manulife Short Term Fund
| Security | % of fund |
|---|---|
| 7.77% REC Limited 2028 | 6.36% |
| 7.45% Power Finance Corporation Limited 2028 | 6.33% |
| 8.55% Aditya Birla Real Estate Limited 2029 | 6.32% |
| 7.73% Embassy Office Parks REIT 2029 | 6.31% |
| 7.27% Tata Capital Housing Finance Limited 2028 | 6.27% |
Largest holdings only in UTI Short Term Fund
| Security | % of fund |
|---|---|
| NCD EXPORT IMPORT BANK OF INDIA | 6.93% |
| NCD VEDANTA LTD | 5.56% |
| NCD POONAWALLA FINCORP LTD. | 4.23% |
| NCD LIC HOUSING FINANCE LTD. | 4.23% |
| NCD 360 ONE PRIME LTD | 4.22% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Mahindra Manulife Short Term | UTI Short Term |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 95.6% | 84.0% |
| Cash and others | 4.4% | 16.0% |
Mahindra Manulife Short Term vs UTI Short Term: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Mahindra Manulife Short Term Fund | UTI Short Term Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.33% | 0.41% |
| Base expense ratio (Direct) | 0.27% | 0.34% |
| Total expense ratio (Regular) | 1.24% | 0.81% |
| Base expense ratio (Regular) | 1.09% | 0.69% |
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 Mahindra Manulife Short Term with
Mahindra Manulife Short Term Fund vs UTI Short Term Fund: Frequently Asked Questions
What is the difference between Mahindra Manulife Short Term Fund and UTI Short Term Fund?
Both are Short Duration funds, run by Mahindra Manulife Mutual Fund and UTI Mutual Fund. Their portfolios overlap 0.3%. Mahindra Manulife Short Term Fund charges 0.33% a year and UTI Short Term Fund 0.41%.
Which has given higher returns, Mahindra Manulife Short Term Fund or UTI Short Term Fund?
Over 1 year: Mahindra Manulife Short Term Fund +4.78%, UTI Short Term Fund +4.24%. Over 3 years: Mahindra Manulife Short Term Fund +7.49% a year, UTI Short Term Fund +7.09% a year. Over 5 years: Mahindra Manulife Short Term Fund +6.52% a year, UTI Short Term Fund +6.43% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Mahindra Manulife Short Term Fund or UTI Short Term Fund?
Mahindra Manulife Short Term Fund charges less: 0.33% a year against 0.41%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Mahindra Manulife Short Term Fund and UTI Short Term Fund overlap?
0.3%. They hold 1 of the same securities, the largest shared ones being Corporate Debt Market Development Fund Class A2. From each fund's latest monthly portfolio.
Which is riskier, Mahindra Manulife Short Term Fund or UTI Short Term Fund?
On SEBI's riskometer, Mahindra Manulife Short Term Fund is rated Moderate and UTI Short Term Fund Moderate. Over 3 years, the standard deviation of daily returns was 0.93% and 0.92% a year.
Which is better for SIP, Mahindra Manulife Short Term Fund or UTI Short Term Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,26,983 in Mahindra Manulife Short Term Fund (XIRR 6.8% a year) and ₹7,22,480 in UTI Short Term Fund (XIRR 6.6% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Mahindra Manulife Short Term Fund and UTI Short Term Fund?
Yes. 0.3% of each fund's money sits in the same holdings, so the two hold mostly different investments.
Who manages Mahindra Manulife Short Term Fund and UTI Short Term Fund?
Mahindra Manulife Short Term Fund: Rahul Pal, Kush Sonigara. UTI Short Term Fund: Anurag Mittal FM 1, Not Applicable FM 2, Not Applicable FM 3, Not Applicable FM 4.
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.