Mirae Asset Ultra Short-Term Fund vs Sundaram Ultra Short Term Fund
Direct Plan, Growth option · Data as on 30-10-2026
Mirae Asset Ultra Short-Term Fund and Sundaram Ultra Short Term Fund are both Ultra Short funds. In the 3 years to 30-10-2026, Mirae Asset Ultra Short-Term Fund (Direct) returned 7.3% a year and Sundaram Ultra Short Term Fund (Direct) returned 7.2% a year. Mirae Asset Ultra Short-Term Fund charges 0.22% a year and Sundaram Ultra Short Term Fund 0.22% (Direct plans). Their portfolios overlap 6.6%: they hold 6 of the same securities.
Mirae Asset Ultra Short-Term Fund
Ultra Short
- 3 year return
- 7.3%
- Expense ratio
- 0.22%
- NAV
- ₹1,439.44
Sundaram Ultra Short Term Fund
Ultra Short
- 3 year return
- 7.2%
- Expense ratio
- 0.22%
- NAV
- ₹3,183.87
Which is better, Mirae Asset Ultra Short-Term or Sundaram Ultra 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.
- Mirae Asset Ultra Short-Term returned more over 3 years: 7.3% a year against 7.2%.
- Mirae Asset Ultra Short-Term returned more over 1 year: 6.5% against 6.4%.
- Sundaram Ultra Short Term swung less over 3 years: a standard deviation of 0.4% a year against 0.4%.
- Sundaram Ultra Short Term fell less in its worst fall since 03-01-2022: −0.2% against −0.2%.
- Sundaram Ultra Short Term is the larger fund: ₹2,108 Cr against ₹1,808 Cr.
- Their portfolios overlap 6.6%: 6 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 Ultra Short-Term Fund | Sundaram Ultra Short Term Fund |
|---|---|---|
| Fund house | Mirae Asset Mutual Fund | Sundaram Mutual Fund |
| Category | Ultra Short | Ultra Short |
| AUM | ₹1,808 Cr (30-09-2026) | ₹2,108 Cr (30-09-2026) |
| NAV | ₹1,439.44 (Direct) | ₹3,183.87 (Direct) |
| Expense ratio (Direct) | 0.22% | 0.22% |
| Expense ratio (Regular) | 0.68% | 1.38% |
| Riskometer | Not available | Low to Moderate |
| Benchmark | Not available | NIFTY Ultra Short Duration Debt Index A-I |
| Launch date | Not available | 01-01-2013 |
| Minimum investment | Not available | ₹1,000 |
| Lock in | Not available | None |
| Fund managers | Not available | Sandeep Agarwal, Kumaresh Ramakrishnan, Ronak Shah |
| Exit load | Not available | NIL |
Mirae Asset Ultra Short-Term vs Sundaram Ultra 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 |
|---|---|---|---|---|---|---|---|
| Mirae Asset Ultra Short-Term Fund (Direct) | +0.34% | +1.46% | +3.33% | +6.48% | +7.34% | +6.73% | -- |
| Sundaram Ultra Short Term Fund (Direct) | +0.37% | +1.52% | +3.30% | +6.39% | +7.20% | -- | -- |
| Ultra Short average | +0.30% | +1.34% | +3.06% | +6.00% | +6.82% | -- | -- |
Category average: the average of the 26 Ultra Short funds, same plan type.
Mirae Asset Ultra Short-Term vs Sundaram Ultra Short Term: Year-wise Returns
| Year | Mirae Asset Ultra Short-TermMirae Asset Ultra Short-Term | Sundaram Ultra Short TermSundaram Ultra Short Term |
|---|---|---|
| 2026to date | +5.39% | +5.33% |
| 2025 | +7.43% | +7.27% |
| 2024 | +7.94% | +7.78% |
| 2023 | +7.33% | +7.36% |
| 2022 | +4.86% | -- |
| 2021 | +3.69% | -- |
Mirae Asset Ultra Short-Term vs Sundaram Ultra Short Term: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 441 of them, one for each trading day from 03-01-2025 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 Ultra Short-Term Fund (Direct)
Sundaram Ultra Short Term Fund (Direct)
to
Feb 2025Jun 2022
to
Jun 2025Oct 2022
to
Oct 2025Jan 2023
to
Jan 2026May 2023
to
May 2026Sept 2023
to
Sept 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Mirae Asset Ultra Short-Term | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7.4% | 7.5% | 6.7% | 7.6% |
| Sundaram Ultra Short Term | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7.3% | 7.3% | 6.7% | 7.5% |
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. Every fund is measured over the days all of them have, from 03-01-2022. Past returns do not promise future returns.
Mirae Asset Ultra Short-Term vs Sundaram Ultra 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 03-01-2022 to 30-10-2026: 58 instalments, ₹5,80,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Mirae Asset Ultra Short-TermMirae Asset Ultra Short-Term Fund (Direct) | ₹5,80,000 | ₹6,89,888 | ₹1,09,888 | 7.1% |
| Sundaram Ultra Short TermSundaram Ultra Short Term Fund (Direct) | ₹5,80,000 | ₹6,88,255 | ₹1,08,255 | 7.0% |
Mirae Asset Ultra Short-TermMirae Asset Ultra Short-Term Fund (Direct)
Sundaram Ultra Short TermSundaram Ultra 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.
Mirae Asset Ultra Short-Term vs Sundaram Ultra Short Term: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Mirae Asset Ultra Short-Term Fund (Direct) | Sundaram Ultra Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.48% | +6.39% |
| Standard deviation | 0.50% | 0.42% |
| Sharpe ratio | 2.48 | 2.75 |
| Sortino ratio | 4.01 | 4.74 |
| Maximum drawdown | −0.1% (08-07-2026) | −0.1% (22-10-2026) |
| 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 | Mirae Asset Ultra Short-Term Fund (Direct) | Sundaram Ultra Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.34% | +7.20% |
| Standard deviation | 0.40% | 0.36% |
| Sharpe ratio | 3.33 | 3.25 |
| Sortino ratio | 6.25 | 6.62 |
| Maximum drawdown | −0.1% (08-07-2026) | −0.1% (22-10-2026) |
| 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 | Mirae Asset Ultra Short-Term Fund (Direct) | Sundaram Ultra Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.19% | +6.77% |
| Standard deviation | 0.35% | 0.35% |
| Sharpe ratio | 2.46 | 2.56 |
| Sortino ratio | 4.63 | 4.97 |
| Maximum drawdown | −0.2% (05-05-2022) | −0.2% (06-05-2022) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 08-10-2020 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 Ultra Short-Term Fund (Direct)
Sundaram Ultra Short Term Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Mirae Asset Ultra Short-Term Fund (Direct) | −0.2% | 02-05-2022 | 05-05-2022 | 23-05-2022 | 18 days | 0.0% |
| Sundaram Ultra Short Term Fund (Direct) | −0.2% | 02-05-2022 | 06-05-2022 | 23-05-2022 | 17 days | 0.0% |
From daily values since 03-01-2022, 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 Ultra Short-Term Fund (Direct)
Sundaram Ultra 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.
Mirae Asset Ultra Short-Term Fund (Direct)
Sundaram Ultra Short Term Fund (Direct)
Mirae Asset Ultra Short-Term vs Sundaram Ultra Short Term: Portfolio Overlap
From each fund's latest monthly portfolio: Mirae Asset Ultra Short-Term Fund, September 2026; Sundaram Ultra Short Term Fund, September 2026
Holdings in common
- Overlap
- 6.6%
- Held by both
- 6
- Only in Mirae Asset Ultra Short-Term
- 49
- Only in Sundaram Ultra Short Term
- 50
| Security | % of Mirae Asset Ultra Short-Term | % of Sundaram Ultra Short Term |
|---|---|---|
| National Bank for Agriculture and Rural Development (MD 18/03/2027) | 2.68% | 2.30% |
| Kotak Mahindra Bank Ltd. (MD 05/03/2027) | 1.34% | 2.31% |
| Punjab National Bank (MD 05/02/2027) | 1.24% | 5.33% |
| 8.60% Muthoot Finance Ltd. (MD 02/03/2028) | 0.83% | 1.18% |
| Punjab National Bank (MD 09/03/2027) | 0.54% | 0.92% |
| Corporate Debt Market Development Fund - Class A2 | 0.33% | 0.34% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 6.6% means 6.6% 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 Mirae Asset Ultra Short-Term Fund
| Security | % of fund |
|---|---|
| 8.45% Motilal Oswal Home Finance Ltd. (MD 07/01/2027) | 4.15% |
| National Bank for Agriculture and Rural Development (MD 26/02/2027) | 4.03% |
| HDFC Bank Ltd. (MD 12/03/2027) | 4.03% |
| Small Industries Development Bank of India (MD 25/03/2027) | 4.01% |
| 7.64% REC Ltd. (MD 30/04/2027) | 3.04% |
Largest holdings only in Sundaram Ultra Short Term Fund
| Security | % of fund |
|---|---|
| Axis Bank Ltd - 07/12/2026 | 4.69% |
| Pilani Investment and Industries Corporation Ltd. - 11/03/2027 | 4.59% |
| The Federal Bank Ltd - 10/12/2026 | 3.51% |
| Small Industries Development Bank of India - 18/02/2027 | 3.47% |
| Kotak Mahindra Bank Ltd - 18/12/2026 | 3.28% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Mirae Asset Ultra Short-Term | Sundaram Ultra Short Term |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 102.0% | 98.9% |
| Cash and others | -2.0% | 1.1% |
Mirae Asset Ultra Short-Term vs Sundaram Ultra Short Term: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Mirae Asset Ultra Short-Term Fund | Sundaram Ultra Short Term Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.22% | 0.22% |
| Base expense ratio (Direct) | 0.18% | 0.19% |
| Total expense ratio (Regular) | 0.68% | 1.38% |
| Base expense ratio (Regular) | 0.57% | 1.25% |
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 Ultra Short-Term with
Mirae Asset Ultra Short-Term Fund vs Sundaram Ultra Short Term Fund: Frequently Asked Questions
What is the difference between Mirae Asset Ultra Short-Term Fund and Sundaram Ultra Short Term Fund?
Both are Ultra Short funds, run by Mirae Asset Mutual Fund and Sundaram Mutual Fund. Their portfolios overlap 6.6%. Mirae Asset Ultra Short-Term Fund charges 0.22% a year and Sundaram Ultra Short Term Fund 0.22%.
Which has given higher returns, Mirae Asset Ultra Short-Term Fund or Sundaram Ultra Short Term Fund?
Over 1 year: Mirae Asset Ultra Short-Term Fund +6.48%, Sundaram Ultra Short Term Fund +6.39%. Over 3 years: Mirae Asset Ultra Short-Term Fund +7.34% a year, Sundaram Ultra Short Term Fund +7.20% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Mirae Asset Ultra Short-Term Fund or Sundaram Ultra Short Term Fund?
Both charge 0.22% a year.
How much do Mirae Asset Ultra Short-Term Fund and Sundaram Ultra Short Term Fund overlap?
6.6%. They hold 6 of the same securities, the largest shared ones being National Bank for Agriculture and Rural Development (MD 18/03/2027), Kotak Mahindra Bank Ltd. (MD 05/03/2027), Punjab National Bank (MD 05/02/2027). From each fund's latest monthly portfolio.
Which is better for SIP, Mirae Asset Ultra Short-Term Fund or Sundaram Ultra Short Term Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹4,12,681 in Mirae Asset Ultra Short-Term Fund (XIRR 7.0% a year) and ₹4,11,926 in Sundaram Ultra Short Term Fund (XIRR 6.9% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both Mirae Asset Ultra Short-Term Fund and Sundaram Ultra Short Term Fund?
Yes. 6.6% of each fund's money sits in the same holdings, so the two hold mostly different investments.
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.