Nippon India Ultra Short Term Fund vs Nippon India Ultra Short to Short Term Fund
Direct Plan, Growth option · Data as on 30-10-2026
Nippon India Ultra Short Term Fund is an Ultra Short fund and Nippon India Ultra Short to Short Term Fund is a Low Duration fund. Nippon India Ultra Short Term Fund charges 0.33% a year and Nippon India Ultra Short to Short Term Fund 0.39% (Direct plans). Their portfolios overlap 17.0%: they hold 24 of the same securities.
Nippon India Ultra Short Term Fund
Ultra Short
- Expense ratio
- 0.33%
- NAV
- ₹4,851.45
Nippon India Ultra Short to Short Term Fund
Low Duration
- Expense ratio
- 0.39%
- NAV
- ₹4,307.67
Which is better, Nippon India Ultra Short Term or Nippon India 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.
- Nippon India Ultra Short Term costs less: 0.33% a year against 0.39% (Direct plans).
- Nippon India Ultra Short Term swung less over 3 years: a standard deviation of 0.4% a year against 0.5%.
- Nippon India Ultra Short to Short Term fell less in its worst fall since 21-05-2018: −2.0% against −5.2%.
- Nippon India Ultra Short Term is the larger fund: ₹11,551 Cr against ₹7,096 Cr.
- Their portfolios overlap 17.0%: 24 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 | Nippon India Ultra Short Term Fund | Nippon India Ultra Short to Short Term Fund |
|---|---|---|
| Fund house | Nippon India Mutual Fund | Nippon India Mutual Fund |
| Category | Ultra Short | Low Duration |
| AUM | ₹11,551 Cr (30-09-2026) | ₹7,096 Cr (30-09-2026) |
| NAV | ₹4,851.45 (Direct) | ₹4,307.67 (Direct) |
| Expense ratio (Direct) | 0.33% | 0.39% |
| Expense ratio (Regular) | 1.05% | 0.99% |
| Riskometer | Moderately High | Low to Moderate |
| Benchmark | CRISIL Ultra Short Duration Debt A-I Index | CRISIL Low Duration Debt A-I Index |
| Launch date | 07-12-2001 | 20-03-2007 |
| Minimum investment | ₹10,000 | Daily Income Distribution cum capital withdrawal Option - Rs.10,000 & in multiples of Re. 1 thereafter, Weekly IDCW Option - Rs.5,000 & in multiples of Re. 1 thereafter , All other Options - Rs. 500 and in multiples of Re. 1 thereafter |
| Lock in | None | None |
| Fund managers | Vivek Sharma | Vivek Sharma |
| Exit load | Nil | Nil |
Nippon India Ultra Short Term vs Nippon India 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 |
|---|---|---|---|---|---|---|---|
| Nippon India Ultra Short Term Fund (Direct) | -- | -- | -- | -- | -- | -- | -- |
| Nippon India Ultra Short to Short Term Fund (Direct) | +0.21% | +1.19% | +3.11% | +5.95% | +7.34% | +6.74% | +6.92% |
| Low Duration average | +0.18% | +1.12% | +2.95% | +5.79% | +7.22% | +6.58% | +6.73% |
Category average: the average of the 25 Low Duration funds, same plan type.
Nippon India Ultra Short Term vs Nippon India Ultra Short to Short Term: Year-wise Returns
| Year | TermNippon India Ultra Short Term | to Short TermNippon India Ultra Short to Short Term |
|---|---|---|
| 2026to date | -- | +4.89% |
| 2025 | -- | +7.86% |
| 2024 | -- | +8.02% |
| 2023 | -- | +7.37% |
| 2022 | -- | +4.85% |
| 2021 | -- | +4.81% |
Nippon India Ultra Short Term vs Nippon India Ultra Short to Short Term: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 1,319 of them, one for each trading day from 21-05-2021 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.
Nippon India Ultra Short Term Fund (Direct)
Nippon India Ultra Short to Short Term Fund (Direct)
to
Oct 2021Sept 2019
to
Sept 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Nippon India Ultra Short Term | 0.0 | 3.4 | 96.6 | 0.0 | 0.0 | 0.0 | 0.0 | 6.8% | 7.1% | 4.8% | 7.8% |
| Nippon India Ultra Short to Short Term | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 6.7% | 6.6% | 5.6% | 7.9% |
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 21-05-2018. Past returns do not promise future returns.
Nippon India Ultra Short Term vs Nippon India 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 21-05-2018 to 30-10-2026: 102 instalments, ₹10,20,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Nippon India Ultra Short TermNippon India Ultra Short Term Fund (Direct) | ₹10,20,000 | ₹13,81,520 | ₹3,61,520 | 7.0% |
| Nippon India Ultra Short to Short TermNippon India Ultra Short to Short Term Fund (Direct) | ₹10,20,000 | ₹13,70,572 | ₹3,50,572 | 6.8% |
Nippon India Ultra Short TermNippon India Ultra Short Term Fund (Direct)
Nippon India Ultra Short to Short TermNippon India 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.
Nippon India Ultra Short Term vs Nippon India 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 | Nippon India Ultra Short Term Fund (Direct) | Nippon India Ultra Short to Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.77% | +5.95% |
| Standard deviation | 0.44% | 0.62% |
| Sharpe ratio | 3.48 | 1.13 |
| Sortino ratio | 6.02 | 1.70 |
| Maximum drawdown | −0.1% (08-07-2026) | −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 | Nippon India Ultra Short Term Fund (Direct) | Nippon India Ultra Short to Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.50% | +7.34% |
| Standard deviation | 0.38% | 0.50% |
| Sharpe ratio | 3.92 | 2.65 |
| Sortino ratio | 8.05 | 4.54 |
| Maximum drawdown | −0.1% (08-07-2026) | −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 | Nippon India Ultra Short Term Fund (Direct) | Nippon India Ultra Short to Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.01% | +6.74% |
| Standard deviation | 0.37% | 0.48% |
| Sharpe ratio | 3.30 | 1.96 |
| Sortino ratio | 6.31 | 3.09 |
| Maximum drawdown | −0.2% (06-05-2022) | −0.4% (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 | Nippon India Ultra Short Term Fund (Direct) | Nippon India Ultra Short to Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.58% | +7.57% |
| Standard deviation | 2.03% | 0.85% |
| Sharpe ratio | 0.64 | 1.78 |
| Sortino ratio | 0.74 | 2.32 |
| Maximum drawdown | −5.2% (25-09-2019) | −2.0% (04-06-2019) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 21-05-2018 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.
Nippon India Ultra Short Term Fund (Direct)
Nippon India 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 |
|---|---|---|---|---|---|---|
| Nippon India Ultra Short Term Fund (Direct) | −5.2% | 12-09-2019 | 25-09-2019 | 01-06-2020 | 8 months | 0.0% |
| Nippon India Ultra Short to Short Term Fund (Direct) | −2.0% | 03-06-2019 | 04-06-2019 | 20-08-2019 | 3 months | 0.0% |
From daily values since 21-05-2018, 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.
Nippon India Ultra Short Term Fund (Direct)
Nippon India 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.
Nippon India Ultra Short Term Fund (Direct)
Nippon India 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.
Nippon India Ultra Short Term Fund (Direct)
Nippon India Ultra Short to Short Term Fund (Direct)
Nippon India Ultra Short Term vs Nippon India Ultra Short to Short Term: Portfolio Overlap
From each fund's latest monthly portfolio: Nippon India Ultra Short Term Fund, September 2026; Nippon India Ultra Short to Short Term Fund, September 2026
Holdings in common
- Overlap
- 17.0%
- Held by both
- 24
- Only in Nippon India Ultra Short Term
- 93
- Only in Nippon India Ultra Short to Short Term
- 63
| Security | % of Nippon India Ultra Short Term | % of Nippon India Ultra Short to Short Term |
|---|---|---|
| 9.31% Vedanta Limited | 2.23% | 1.78% |
| 8% Tata Capital Housing Finance Limited | 1.51% | 2.11% |
| Small Industries Dev Bank of India | 2.18% | 1.34% |
| Small Industries Dev Bank of India | 1.26% | 1.37% |
| 7.7% National Bank For Agriculture and Rural Development | 1.21% | 1.41% |
| 360 One Prime Limited | 0.87% | 1.42% |
| HDFC Bank Limited | 0.84% | 5.82% |
| HDFC Bank Limited | 1.89% | 0.70% |
| Axis Bank Limited | 1.71% | 0.70% |
| 7.59% REC Limited | 1.64% | 0.70% |
| Small Industries Dev Bank of India | 1.27% | 0.69% |
| Axis Bank Limited | 0.93% | 0.69% |
| HDFC Bank Limited | 2.52% | 0.68% |
| Small Industries Dev Bank of India | 2.03% | 0.66% |
| 7.64% REC Limited | 0.65% | 1.41% |
| 7.48% National Bank For Agriculture and Rural Development | 0.47% | 2.03% |
| 8.35% SMFG India Home Finance Company Limited | 0.43% | 1.06% |
| Small Industries Dev Bank of India | 0.42% | 1.37% |
| 9.4% Vedanta Aluminium Metal Limited | 2.78% | 0.35% |
| 7.62% National Bank For Agriculture and Rural Development | 0.30% | 1.05% |
| Corporate Debt Market Development Fund Class A2 | 0.27% | 0.42% |
| Muthoot Finance Limited | 0.22% | 1.06% |
| Canara Bank | 0.21% | 0.69% |
| 9.45% Vedanta Limited | 0.07% | 1.07% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 17.0% means 17.0% 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 Nippon India Ultra Short Term Fund
| Security | % of fund |
|---|---|
| 8.5% Nirma Limited | 3.00% |
| National Bank For Agriculture and Rural Development | 2.73% |
| Punjab National Bank | 2.54% |
| 364 Days Tbill | 2.44% |
| 8.6% Aditya Birla Renewables Limited | 2.16% |
Largest holdings only in Nippon India Ultra Short to Short Term Fund
| Security | % of fund |
|---|---|
| 7.55% Poonawalla Fincorp Limited | 2.81% |
| Radhakrishna Securitisation Trust | 2.69% |
| 6.6% REC Limited | 2.59% |
| 6.73% Power Finance Corporation Limited | 2.45% |
| 7.9% Truhome Finance Limited | 2.09% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Nippon India Ultra Short Term | Nippon India Ultra Short to Short Term |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 97.4% | 93.1% |
| Cash and others | 2.6% | 6.9% |
Nippon India Ultra Short Term vs Nippon India Ultra Short to Short Term: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Nippon India Ultra Short Term Fund | Nippon India Ultra Short to Short Term Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.33% | 0.39% |
| Base expense ratio (Direct) | 0.28% | 0.32% |
| Total expense ratio (Regular) | 1.05% | 0.99% |
| Base expense ratio (Regular) | 0.89% | 0.83% |
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 Nippon India Ultra Short to Short Term with
Nippon India Ultra Short Term Fund vs Nippon India Ultra Short to Short Term Fund: Frequently Asked Questions
What is the difference between Nippon India Ultra Short Term Fund and Nippon India Ultra Short to Short Term Fund?
Nippon India Ultra Short Term Fund is an Ultra Short fund, Nippon India Ultra Short to Short Term Fund is a Low Duration fund, run by Nippon India Mutual Fund. Their portfolios overlap 17.0%. Nippon India Ultra Short Term Fund charges 0.33% a year and Nippon India Ultra Short to Short Term Fund 0.39%.
Which has the lower expense ratio, Nippon India Ultra Short Term Fund or Nippon India Ultra Short to Short Term Fund?
Nippon India Ultra Short Term Fund charges less: 0.33% a year against 0.39%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Nippon India Ultra Short Term Fund and Nippon India Ultra Short to Short Term Fund overlap?
17.0%. They hold 24 of the same securities, the largest shared ones being 9.31% Vedanta Limited, 8% Tata Capital Housing Finance Limited, Small Industries Dev Bank of India. From each fund's latest monthly portfolio.
Which is riskier, Nippon India Ultra Short Term Fund or Nippon India Ultra Short to Short Term Fund?
On SEBI's riskometer, Nippon India Ultra Short Term Fund is rated Moderately High and Nippon India Ultra Short to Short Term Fund Low to Moderate. Over 3 years, the standard deviation of daily returns was 0.38% and 0.50% a year.
Which is better for SIP, Nippon India Ultra Short Term Fund or Nippon India 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 ₹7,35,302 in Nippon India Ultra Short Term Fund (XIRR 7.3% a year) and ₹7,30,679 in Nippon India Ultra Short to Short Term Fund (XIRR 7.0% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Nippon India Ultra Short Term Fund and Nippon India Ultra Short to Short Term Fund?
Yes. 17.0% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Nippon India Ultra Short Term Fund and Nippon India Ultra Short to Short Term Fund?
Nippon India Ultra Short Term Fund: Vivek Sharma. Nippon India Ultra Short to Short Term Fund: Vivek Sharma.
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.