Nippon India Ultra Short Term Fund vs UTI Ultra Short Term Fund
Direct Plan, Growth option · Data as on 30-10-2026
Nippon India Ultra Short Term Fund and UTI Ultra Short Term Fund are both Ultra Short funds. Nippon India Ultra Short Term Fund charges 0.33% a year and UTI Ultra Short Term Fund 0.37% (Direct plans). Their portfolios overlap 12.4%: they hold 12 of the same securities.
Nippon India Ultra Short Term Fund
Ultra Short
- Expense ratio
- 0.33%
- NAV
- ₹4,851.45
Which is better, Nippon India Ultra Short Term or UTI 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.
- Nippon India Ultra Short Term costs less: 0.33% a year against 0.37% (Direct plans).
- UTI Ultra Short Term swung less over 3 years: a standard deviation of 0.4% a year against 0.4%.
- UTI Ultra Short Term fell less in its worst fall since 21-05-2018: −3.6% against −5.2%.
- Nippon India Ultra Short Term is the larger fund: ₹11,551 Cr against ₹3,017 Cr.
- Their portfolios overlap 12.4%: 12 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 | UTI Ultra Short Term Fund |
|---|---|---|
| Fund house | Nippon India Mutual Fund | UTI Mutual Fund |
| Category | Ultra Short | Ultra Short |
| AUM | ₹11,551 Cr (30-09-2026) | ₹3,017 Cr (30-09-2026) |
| NAV | ₹4,851.45 (Direct) | ₹4,946.82 (Direct) |
| Expense ratio (Direct) | 0.33% | 0.37% |
| Expense ratio (Regular) | 1.05% | 0.98% |
| Riskometer | Moderately High | Moderate |
| Benchmark | CRISIL Ultra Short Duration Debt A-I Index | NIFTY Ultra Short Duration Debt Index A-I |
| Launch date | 07-12-2001 | 29-08-2003 |
| Minimum investment | ₹10,000 | Regular Plan-Quarterly Reinvestment of IDCW- Rs.20000, Regular Plan-Quarterly Payout of IDCW- Rs.20000, Regular Plan-Monthly Reinvestment of IDCW- Rs.20000, Regular Plan-Monthly Payout of IDCW- Rs.20000, Regular Plan-Half-yearly Reinvestment of IDCW- Rs.2 |
| Lock in | None | None |
| Fund managers | Vivek Sharma | Anurag Mittal FM 1, Not Applicable FM 2, Not Applicable FM 3, Not Applicable FM 4 |
| Exit load | Nil | Nil |
Nippon India Ultra Short Term vs UTI 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 |
|---|---|---|---|---|---|---|---|
| Nippon India Ultra Short Term Fund (Direct) | -- | -- | -- | -- | -- | -- | -- |
| UTI Ultra Short Term Fund (Direct) | +0.35% | +1.49% | +3.30% | +6.45% | +7.25% | +6.65% | +6.53% |
| Ultra Short average | +0.30% | +1.34% | +3.06% | +6.00% | +6.82% | +6.27% | +6.43% |
Category average: the average of the 26 Ultra Short funds, same plan type.
Nippon India Ultra Short Term vs UTI Ultra Short Term: Year-wise Returns
| Year | Nippon IndiaNippon India Ultra Short Term | UTIUTI Ultra Short Term |
|---|---|---|
| 2026to date | -- | +5.36% |
| 2025 | -- | +7.30% |
| 2024 | -- | +7.85% |
| 2023 | -- | +7.29% |
| 2022 | -- | +4.79% |
| 2021 | -- | +6.68% |
Nippon India Ultra Short Term vs UTI Ultra 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)
UTI Ultra 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% |
| UTI Ultra Short Term | 0.0 | 2.7 | 97.3 | 0.0 | 0.0 | 0.0 | 0.0 | 6.4% | 6.4% | 4.8% | 7.6% |
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 UTI 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 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% |
| UTI Ultra Short TermUTI Ultra Short Term Fund (Direct) | ₹10,20,000 | ₹13,62,842 | ₹3,42,842 | 6.7% |
Nippon India Ultra Short TermNippon India Ultra Short Term Fund (Direct)
UTI Ultra Short TermUTI 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.
Nippon India Ultra Short Term vs UTI Ultra 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) | UTI Ultra Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.77% | +6.45% |
| Standard deviation | 0.44% | 0.42% |
| Sharpe ratio | 3.48 | 2.87 |
| Sortino ratio | 6.02 | 4.75 |
| 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 | Nippon India Ultra Short Term Fund (Direct) | UTI Ultra Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.50% | +7.25% |
| Standard deviation | 0.38% | 0.36% |
| Sharpe ratio | 3.92 | 3.38 |
| Sortino ratio | 8.05 | 6.69 |
| 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 | Nippon India Ultra Short Term Fund (Direct) | UTI Ultra Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.01% | +6.65% |
| Standard deviation | 0.37% | 0.35% |
| Sharpe ratio | 3.30 | 2.41 |
| Sortino ratio | 6.31 | 4.34 |
| Maximum drawdown | −0.2% (06-05-2022) | −0.2% (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) | UTI Ultra Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.58% | +7.38% |
| Standard deviation | 2.03% | 1.06% |
| Sharpe ratio | 0.64 | 1.26 |
| Sortino ratio | 0.74 | 1.59 |
| Maximum drawdown | −5.2% (25-09-2019) | −3.6% (07-06-2019) |
| 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)
UTI Ultra 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% |
| UTI Ultra Short Term Fund (Direct) | −3.6% | 03-06-2019 | 07-06-2019 | 09-12-2019 | 6 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)
UTI 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.
Nippon India Ultra Short Term Fund (Direct)
UTI Ultra 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)
UTI Ultra Short Term Fund (Direct)
Nippon India Ultra Short Term vs UTI Ultra Short Term: Portfolio Overlap
From each fund's latest monthly portfolio: Nippon India Ultra Short Term Fund, September 2026; UTI Ultra Short Term Fund, September 2026
Holdings in common
- Overlap
- 12.4%
- Held by both
- 12
- Only in Nippon India Ultra Short Term
- 105
- Only in UTI Ultra Short Term
- 40
| Security | % of Nippon India Ultra Short Term | % of UTI Ultra Short Term |
|---|---|---|
| 8.6% Aditya Birla Renewables Limited | 2.16% | 2.15% |
| Axis Bank Limited | 1.69% | 4.84% |
| Small Industries Dev Bank of India | 2.03% | 1.56% |
| Small Industries Dev Bank of India | 1.27% | 2.44% |
| 9.5% DMI Finance Private Limited | 1.06% | 1.66% |
| Axis Bank Limited | 0.93% | 1.63% |
| National Bank For Agriculture and Rural Development | 0.84% | 1.61% |
| 7.35% Embassy Office Parks REIT | 1.73% | 0.83% |
| 9.15% Piramal Finance Limited | 0.83% | 2.00% |
| HDFC Bank Limited | 0.63% | 1.62% |
| 9.5% Vedanta Aluminium Metal Limited | 0.35% | 0.50% |
| Corporate Debt Market Development Fund Class A2 | 0.27% | 0.44% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 12.4% means 12.4% 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% |
| 9.4% Vedanta Aluminium Metal Limited | 2.78% |
| National Bank For Agriculture and Rural Development | 2.73% |
| Punjab National Bank | 2.54% |
| HDFC Bank Limited | 2.52% |
Largest holdings only in UTI Ultra Short Term Fund
| Security | % of fund |
|---|---|
| 364 DAYS T-BILL - 26/11/2026 | 6.58% |
| CD - INDIAN BANK - 22/01/2027 | 5.68% |
| CD - HDFC BANK LTD - 15/02/2027 | 4.85% |
| CD - EXIM BANK - 29/01/2027 | 4.05% |
| CP MUTHOOT FINCORP LIMITED | 3.26% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Nippon India Ultra Short Term | UTI Ultra Short Term |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 97.4% | 100.8% |
| Cash and others | 2.6% | -0.8% |
Nippon India Ultra Short Term vs UTI Ultra Short Term: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Nippon India Ultra Short Term Fund | UTI Ultra Short Term Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.33% | 0.37% |
| Base expense ratio (Direct) | 0.28% | 0.31% |
| Total expense ratio (Regular) | 1.05% | 0.98% |
| Base expense ratio (Regular) | 0.89% | 0.86% |
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
Nippon India Ultra Short Term Fund vs UTI Ultra Short Term Fund: Frequently Asked Questions
What is the difference between Nippon India Ultra Short Term Fund and UTI Ultra Short Term Fund?
Both are Ultra Short funds, run by Nippon India Mutual Fund and UTI Mutual Fund. Their portfolios overlap 12.4%. Nippon India Ultra Short Term Fund charges 0.33% a year and UTI Ultra Short Term Fund 0.37%.
Which has the lower expense ratio, Nippon India Ultra Short Term Fund or UTI Ultra Short Term Fund?
Nippon India Ultra Short Term Fund charges less: 0.33% a year against 0.37%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Nippon India Ultra Short Term Fund and UTI Ultra Short Term Fund overlap?
12.4%. They hold 12 of the same securities, the largest shared ones being 8.6% Aditya Birla Renewables Limited, Axis Bank Limited, Small Industries Dev Bank of India. From each fund's latest monthly portfolio.
Which is riskier, Nippon India Ultra Short Term Fund or UTI Ultra Short Term Fund?
On SEBI's riskometer, Nippon India Ultra Short Term Fund is rated Moderately High and UTI Ultra Short Term Fund Moderate. Over 3 years, the standard deviation of daily returns was 0.38% and 0.36% a year.
Which is better for SIP, Nippon India Ultra Short Term Fund or UTI Ultra 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 ₹7,29,992 in UTI Ultra 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 UTI Ultra Short Term Fund?
Yes. 12.4% 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 UTI Ultra Short Term Fund?
Nippon India Ultra Short Term Fund: Vivek Sharma. UTI Ultra 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.