Mirae Asset Overnight Fund vs Tata Overnight Fund
Direct Plan, Growth option · Data as on 30-10-2026
Mirae Asset Overnight Fund and Tata Overnight Fund are both Overnight funds. In the 3 years to 30-10-2026, Mirae Asset Overnight Fund (Direct) returned 6.0% a year and Tata Overnight Fund (Direct) returned 6.0% a year. Mirae Asset Overnight Fund charges 0.09% a year and Tata Overnight Fund 0.09% (Direct plans). Their portfolios overlap 2.7%: they hold 2 of the same securities.
Mirae Asset Overnight Fund
Overnight
- 3 year return
- 6.0%
- Expense ratio
- 0.09%
- NAV
- ₹1,423.09
Which is better, Mirae Asset Overnight or Tata Overnight? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Tata Overnight returned more over 5 years: 5.8% a year against 5.8%.
- Tata Overnight returned more over 3 years: 6.0% a year against 6.0%.
- Mirae Asset Overnight swung less over 3 years: a standard deviation of 0.0% a year against 0.0%.
- Tata Overnight is the larger fund: ₹5,556 Cr against ₹1,527 Cr.
- Their portfolios overlap 2.7%: 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 | Mirae Asset Overnight Fund | Tata Overnight Fund |
|---|---|---|
| Fund house | Mirae Asset Mutual Fund | Tata Mutual Fund |
| Category | Overnight | Overnight |
| AUM | ₹1,527 Cr (30-09-2026) | ₹5,556 Cr (30-09-2026) |
| NAV | ₹1,423.09 (Direct) | ₹1,465.12 (Direct) |
| Expense ratio (Direct) | 0.09% | 0.09% |
| Expense ratio (Regular) | 0.18% | 0.21% |
| Riskometer | Low | Low |
| Benchmark | Nifty 1D Rate Index | CRISIL Liquid Overnight Index (AI) |
| Launch date | 15-10-2019 | 26-03-2019 |
| Minimum investment | Not available | ₹5,000 |
| Lock in | None | None |
| Fund managers | Pranavi Kulkarni | Jennifer Karkaria, Vijay Kerkar |
| Exit load | Nil | NIL |
Mirae Asset Overnight vs Tata Overnight: 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 |
|---|---|---|---|---|---|---|---|
| Mirae Asset Overnight Fund (Direct) | +0.45% | +1.29% | +2.60% | +5.26% | +6.03% | +5.79% | -- |
| Tata Overnight Fund (Direct) | +0.45% | +1.30% | +2.62% | +5.30% | +6.05% | +5.79% | -- |
| Overnight average | +0.45% | +1.28% | +2.59% | +5.22% | +5.99% | +5.75% | -- |
Category average: the average of the 40 Overnight funds, same plan type.
Mirae Asset Overnight vs Tata Overnight: Year-wise Returns
| Year | Mirae AssetMirae Asset Overnight | TataTata Overnight |
|---|---|---|
| 2026to date | +4.32% | +4.35% |
| 2025 | +5.83% | +5.86% |
| 2024 | +6.74% | +6.74% |
| 2023 | +6.72% | +6.71% |
| 2022 | +4.74% | +4.70% |
| 2021 | +3.25% | +3.19% |
Mirae Asset Overnight vs Tata Overnight: Rolling Returns
Every holding period of both funds, against Nifty 1D Rate Index TRI, the benchmark of Mirae Asset Overnight Fund
Rolling returns
Every 3-year holding period, 1,417 of them, one for each trading day from 16-10-2022 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.
Mirae Asset Overnight Fund (Direct)
Tata Overnight Fund (Direct)
Nifty 1D Rate Index TRI
to
Feb 2023Oct 2020
to
Oct 2023Jun 2021
to
Jun 2024Mar 2022
to
Mar 2025Nov 2022
to
Nov 2025Jul 2023
to
Jul 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mirae Asset Overnight | 0.0 | 29.4 | 70.6 | 0.0 | 0.0 | 0.0 | 0.0 | 5.5% | 5.9% | 3.8% | 6.5% | 28% |
| Tata Overnight | 0.0 | 32.8 | 67.2 | 0.0 | 0.0 | 0.0 | 0.0 | 5.5% | 5.8% | 3.7% | 6.5% | 19% |
| Nifty 1D Rate Index TRI | 0.0 | 28.9 | 71.1 | 0.0 | 0.0 | 0.0 | 0.0 | 5.5% | 5.9% | 3.7% | 6.5% | -- |
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. The benchmark is Nifty 1D Rate Index TRI, over the same periods. "Beat benchmark" counts the periods in which the fund did better. Every fund is measured over the days all of them have, from 16-10-2019. Past returns do not promise future returns.
Mirae Asset Overnight vs Tata Overnight: 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 16-10-2019 to 30-10-2026: 85 instalments, ₹8,50,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Mirae Asset OvernightMirae Asset Overnight Fund (Direct) | ₹8,50,000 | ₹10,39,841 | ₹1,89,841 | 5.6% |
| Tata OvernightTata Overnight Fund (Direct) | ₹8,50,000 | ₹10,39,829 | ₹1,89,829 | 5.6% |
Mirae Asset OvernightMirae Asset Overnight Fund (Direct)
Tata OvernightTata Overnight 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.
Mirae Asset Overnight vs Tata Overnight: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Mirae Asset Overnight Fund (Direct) | Tata Overnight Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.26% | +5.30% |
| Standard deviation | 0.04% | 0.04% |
| Sharpe ratio | 0.41 | 1.26 |
| Sortino ratio | 1.41 | 4.98 |
| Maximum drawdown | 0.0% | 0.0% |
| Beta | 1.01 | -- |
| Alpha | +0.02% | -- |
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 | Mirae Asset Overnight Fund (Direct) | Tata Overnight Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.03% | +6.05% |
| Standard deviation | 0.04% | 0.04% |
| Sharpe ratio | 0.15 | 0.64 |
| Sortino ratio | 0.24 | 1.02 |
| Maximum drawdown | 0.0% | 0.0% |
| Beta | 1.00 | -- |
| Alpha | +0.01% | -- |
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 | Mirae Asset Overnight Fund (Direct) | Tata Overnight Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.79% | +5.79% |
| Standard deviation | 0.09% | 0.06% |
| Sharpe ratio | -0.11 | -0.24 |
| Sortino ratio | -0.21 | -0.31 |
| Maximum drawdown | 0.0% | 0.0% |
| Beta | 1.00 | -- |
| Alpha | −0.01% | -- |
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 | Mirae Asset Overnight Fund (Direct) | Tata Overnight Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.14% | +5.15% |
| Standard deviation | 0.10% | 0.07% |
| Sharpe ratio | 0.10 | -0.28 |
| Sortino ratio | 0.17 | -0.37 |
| Maximum drawdown | 0.0% | 0.0% |
| Beta | 1.00 | -- |
| Alpha | +0.01% | -- |
From daily NAVs, 16-10-2019 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.
Mirae Asset Overnight Fund (Direct)
Tata Overnight Fund (Direct)
Nifty 1D Rate Index TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Mirae Asset Overnight Fund (Direct) | 0.0% | -- | -- | -- | -- | 0.0% |
| Tata Overnight Fund (Direct) | 0.0% | -- | -- | -- | -- | 0.0% |
| Nifty 1D Rate Index TRI | 0.0% | -- | -- | -- | -- | 0.0% |
From daily values since 16-10-2019, 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.
Mirae Asset Overnight Fund (Direct)
Tata Overnight Fund (Direct)
Nifty 1D Rate Index TRI
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.
Mirae Asset Overnight Fund (Direct)
Tata Overnight Fund (Direct)
Nifty 1D Rate Index TRI
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.
Mirae Asset Overnight Fund (Direct)
Tata Overnight Fund (Direct)
Nifty 1D Rate Index TRI
Against Nifty 1D Rate Index TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Mirae Asset Overnight Fund (Direct) | 100% | NaN% | 0.07% |
| Tata Overnight Fund (Direct) | 100% | NaN% | 0.07% |
From month-end values since 16-10-2019. Up capture: a fund's average month when the benchmark rose, as % of the benchmark's; above 100% it gained more. Down capture: the same for months the benchmark fell; below 100% it fell less. Tracking error: how far the monthly returns strayed from the benchmark's, a year; an index fund aims near 0.
Mirae Asset Overnight vs Tata Overnight: Portfolio Overlap
From each fund's latest monthly portfolio: Mirae Asset Overnight Fund, September 2026; Tata Overnight Fund, September 2026
Holdings in common
- Overlap
- 2.7%
- Held by both
- 2
- Only in Mirae Asset Overnight
- 0
- Only in Tata Overnight
- 1
| Security | % of Mirae Asset Overnight | % of Tata Overnight |
|---|---|---|
| 91 Days Treasury Bills (MD 01/10/2026) | 3.27% | 1.80% |
| 91 Days Treasury Bills (MD 08/10/2026) | 1.64% | 0.90% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 2.7% means 2.7% 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 Mirae Asset Overnight Fund
Every holding of this fund is also held by the other.
Largest holdings only in Tata Overnight Fund
| Security | % of fund |
|---|---|
| ** TREASURY BILL 364 DAYS (08/10/2026) | 0.27% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Mirae Asset Overnight | Tata Overnight |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 4.9% | 3.0% |
| Cash and others | 95.1% | 97.0% |
Mirae Asset Overnight vs Tata Overnight: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Mirae Asset Overnight Fund | Tata Overnight Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.09% | 0.09% |
| Base expense ratio (Direct) | 0.07% | 0.05% |
| Total expense ratio (Regular) | 0.18% | 0.21% |
| Base expense ratio (Regular) | 0.14% | 0.16% |
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 Mirae Asset Overnight with
Mirae Asset Overnight Fund vs Tata Overnight Fund: Frequently Asked Questions
What is the difference between Mirae Asset Overnight Fund and Tata Overnight Fund?
Both are Overnight funds, run by Mirae Asset Mutual Fund and Tata Mutual Fund. Their portfolios overlap 2.7%. Mirae Asset Overnight Fund charges 0.09% a year and Tata Overnight Fund 0.09%.
Which has given higher returns, Mirae Asset Overnight Fund or Tata Overnight Fund?
Over 1 year: Mirae Asset Overnight Fund +5.26%, Tata Overnight Fund +5.30%. Over 3 years: Mirae Asset Overnight Fund +6.03% a year, Tata Overnight Fund +6.05% a year. Over 5 years: Mirae Asset Overnight Fund +5.79% a year, Tata Overnight Fund +5.79% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Mirae Asset Overnight Fund or Tata Overnight Fund?
Both charge 0.09% a year.
How much do Mirae Asset Overnight Fund and Tata Overnight Fund overlap?
2.7%. They hold 2 of the same securities, the largest shared ones being 91 Days Treasury Bills (MD 01/10/2026), 91 Days Treasury Bills (MD 08/10/2026). From each fund's latest monthly portfolio.
Which is riskier, Mirae Asset Overnight Fund or Tata Overnight Fund?
On SEBI's riskometer, Mirae Asset Overnight Fund is rated Low and Tata Overnight Fund Low. Over 3 years, the standard deviation of daily returns was 0.04% and 0.04% a year.
Which is better for SIP, Mirae Asset Overnight Fund or Tata Overnight Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,10,057 in Mirae Asset Overnight Fund (XIRR 5.9% a year) and ₹7,10,315 in Tata Overnight Fund (XIRR 5.9% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Mirae Asset Overnight Fund and Tata Overnight Fund?
Yes. 2.7% of each fund's money sits in the same holdings, so the two hold mostly different investments.
Who manages Mirae Asset Overnight Fund and Tata Overnight Fund?
Mirae Asset Overnight Fund: Pranavi Kulkarni. Tata Overnight Fund: Jennifer Karkaria, Vijay Kerkar.
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.