Union Short Term Fund vs Union Ultra Short to Short Term Fund
Direct Plan, Growth option · Data as on 30-10-2026
Union Short Term Fund is an Ultra Short fund and Union Ultra Short to Short Term Fund is a Low Duration fund. In the year to 30-10-2026, Union Short Term Fund (Direct) returned 3.9% and Union Ultra Short to Short Term Fund (Direct) returned 5.3%. Union Short Term Fund charges 0.35% a year and Union Ultra Short to Short Term Fund 0.26% (Direct plans). Their portfolios overlap 12.2%: they hold 3 of the same securities.
Union Short Term Fund
Ultra Short
- 1 year return
- 3.9%
- Expense ratio
- 0.35%
- NAV
- ₹11.06
Union Ultra Short to Short Term Fund
Low Duration
- 1 year return
- 5.3%
- Expense ratio
- 0.26%
- NAV
- ₹10.72
Which is better, Union Short Term or Union 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.
- Union Ultra Short to Short Term returned more over 1 year: 5.3% against 3.9%.
- Union Ultra Short to Short Term costs less: 0.26% a year against 0.35% (Direct plans).
- Union Ultra Short to Short Term fell less in its worst fall since 18-07-2025: −0.3% against −0.5%.
- Union Ultra Short to Short Term is the larger fund: ₹228 Cr against ₹111 Cr.
- Their portfolios overlap 12.2%: 3 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 | Union Short Term Fund | Union Ultra Short to Short Term Fund |
|---|---|---|
| Fund house | Union Mutual Fund | Union Mutual Fund |
| Category | Ultra Short | Low Duration |
| AUM | ₹111 Cr (30-09-2026) | ₹228 Cr (30-09-2026) |
| NAV | ₹11.06 (Direct) | ₹10.72 (Direct) |
| Expense ratio (Direct) | 0.35% | 0.26% |
| Expense ratio (Regular) | 0.80% | 0.86% |
| Riskometer | Moderate | Low to Moderate |
| Benchmark | CRISIL Short Duration Debt A-II Index Benchmark Discalimer: CRISIL Indices are the sole property of CRISIL Limited (CRIS | Nifty Low Duration Debt Index A-I $ $ Nifty Benchmark Disclaimer: The Product(s) are not sponsored, endorsed, sold or pr |
| Launch date | 31-01-2025 | 16-07-2025 |
| Minimum investment | ₹1,000 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Anindya Sarkar, Shrenuj Parekh | Anindya Sarkar, Devesh Thacker |
| Exit load | NIL | NIL |
Union Short Term vs Union 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 |
|---|---|---|---|---|---|---|---|
| Union Short Term Fund (Direct) | −0.11% | +0.22% | +2.39% | +3.89% | -- | -- | -- |
| Union Ultra Short to Short Term Fund (Direct) | +0.12% | +0.98% | +2.75% | +5.28% | -- | -- | -- |
| Ultra Short average | +0.30% | +1.34% | +3.06% | +6.00% | -- | -- | -- |
| Low Duration average | +0.18% | +1.12% | +2.95% | +5.79% | -- | -- | -- |
Category average: the average of the 26 Ultra Short funds and the 25 Low Duration funds, same plan type.
Union Short Term vs Union Ultra Short to Short Term: Year-wise Returns
| Year | ShortUnion Short Term | Ultra Short to ShortUnion Ultra Short to Short Term |
|---|---|---|
| 2026to date | +3.33% | +4.31% |
Union Short Term vs Union Ultra Short to Short Term: Rolling Returns
Every holding period of both funds
Rolling returns
Every 1-year holding period, 69 of them, one for each trading day from 20-07-2026 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.
Union Short Term Fund (Direct)
Union Ultra Short to Short Term Fund (Direct)
to
Jul 2026Aug 2025
to
Aug 2026Aug 2025
to
Aug 2026Sept 2025
to
Sept 2026Oct 2025
to
Oct 2026Oct 2025
to
Oct 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Union Short Term | 0.0 | 42.0 | 58.0 | 0.0 | 0.0 | 0.0 | 0.0 | 4.9% | 5.1% | 3.8% | 5.6% |
| Union Ultra Short to Short Term | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 5.8% | 5.9% | 5.3% | 6.2% |
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 18-07-2025. Past returns do not promise future returns.
Union Short Term vs Union 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 01-07-2025 to 30-10-2026: 16 instalments, ₹1,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Union Short TermUnion Short Term Fund (Direct) | ₹1,60,000 | ₹1,64,535 | ₹4,535 | 4.0% |
| Union Ultra Short to Short TermUnion Ultra Short to Short Term Fund (Direct) | ₹1,60,000 | ₹1,65,901 | ₹5,901 | 5.3% |
Union Short TermUnion Short Term Fund (Direct)
Union Ultra Short to Short TermUnion 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.
Union Short Term vs Union 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 | Union Short Term Fund (Direct) | Union Ultra Short to Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +3.89% | +5.28% |
| Standard deviation | 1.22% | 0.67% |
| Sharpe ratio | -1.11 | 0.05 |
| Sortino ratio | -1.52 | 0.07 |
| Maximum drawdown | −0.5% (02-04-2026) | −0.3% (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 | Union Short Term Fund (Direct) | Union Ultra Short to Short Term Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.92% | +5.44% |
| Standard deviation | 1.17% | 0.61% |
| Sharpe ratio | 0.37 | 0.22 |
| Sortino ratio | 0.55 | 0.31 |
| Maximum drawdown | −0.5% (02-04-2026) | −0.3% (21-05-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 03-02-2025 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.
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.
Union Short Term Fund (Direct)
Union 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 |
|---|---|---|---|---|---|---|
| Union Short Term Fund (Direct) | −0.5% | 11-03-2026 | 02-04-2026 | 09-04-2026 | 7 days | −0.3% |
| Union Ultra Short to Short Term Fund (Direct) | −0.3% | 08-05-2026 | 21-05-2026 | 01-06-2026 | 11 days | −0.0% |
From daily values since 18-07-2025, 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.
Union Short Term Fund (Direct)
Union Ultra Short to Short Term Fund (Direct)
Union Short Term vs Union Ultra Short to Short Term: Portfolio Overlap
From each fund's latest monthly portfolio: Union Short Term Fund, September 2026; Union Ultra Short to Short Term Fund, September 2026
Holdings in common
- Overlap
- 12.2%
- Held by both
- 3
- Only in Union Short Term
- 8
- Only in Union Ultra Short to Short Term
- 6
| Security | % of Union Short Term | % of Union Ultra Short to Short Term |
|---|---|---|
| Kotak Mahindra Bank Ltd. | 8.77% | 6.38% |
| Export-Import Bank of India | 4.51% | 8.74% |
| Corporate Debt Mkt Devp. Fund-A2 | 1.39% | 1.34% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 12.2% means 12.2% 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 Union Short Term Fund
| Security | % of fund |
|---|---|
| Indian Oil Corporation Ltd. | 8.96% |
| Jio Credit Ltd. | 8.86% |
| Small Industries Development Bank of India | 8.82% |
| REC Ltd. | 8.79% |
| Power Finance Corporation Ltd. | 8.77% |
Largest holdings only in Union Ultra Short to Short Term Fund
| Security | % of fund |
|---|---|
| Jamnagar Utilities & Power Pvt. Ltd. | 10.94% |
| Tata Capital Housing Finance Ltd. | 10.88% |
| Power Finance Corporation Ltd. | 10.84% |
| REC Ltd. | 10.79% |
| Bank of Baroda | 10.63% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Union Short Term | Union Ultra Short to Short Term |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 78.7% | 79.8% |
| Cash and others | 21.3% | 20.2% |
Union Short Term vs Union Ultra Short to Short Term: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Union Short Term Fund | Union Ultra Short to Short Term Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.35% | 0.26% |
| Base expense ratio (Direct) | 0.28% | 0.21% |
| Total expense ratio (Regular) | 0.80% | 0.86% |
| Base expense ratio (Regular) | 0.66% | 0.72% |
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 Union Short Term with
Compare Union Ultra Short to Short Term with
- Union Ultra Short to Short Term vs HSBC Ultra Short to Short Term
- Union Ultra Short to Short Term vs Nippon India Ultra Short to Short Term
- Union Ultra Short to Short Term vs Axis Ultra Short to Short Term
- Union Ultra Short to Short Term vs Kotak Ultra Short to Short Term
- Union Ultra Short to Short Term vs Mirae Asset Ultra Short to Short Term
Union Short Term Fund vs Union Ultra Short to Short Term Fund: Frequently Asked Questions
What is the difference between Union Short Term Fund and Union Ultra Short to Short Term Fund?
Union Short Term Fund is an Ultra Short fund, Union Ultra Short to Short Term Fund is a Low Duration fund, run by Union Mutual Fund. Their portfolios overlap 12.2%. Union Short Term Fund charges 0.35% a year and Union Ultra Short to Short Term Fund 0.26%.
Which has given higher returns, Union Short Term Fund or Union Ultra Short to Short Term Fund?
Over 1 year: Union Short Term Fund +3.89%, Union Ultra Short to Short Term Fund +5.28%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Union Short Term Fund or Union Ultra Short to Short Term Fund?
Union Ultra Short to Short Term Fund charges less: 0.26% a year against 0.35%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Union Short Term Fund and Union Ultra Short to Short Term Fund overlap?
12.2%. They hold 3 of the same securities, the largest shared ones being Kotak Mahindra Bank Ltd., Export-Import Bank of India, Corporate Debt Mkt Devp. Fund-A2. From each fund's latest monthly portfolio.
Which is riskier, Union Short Term Fund or Union Ultra Short to Short Term Fund?
On SEBI's riskometer, Union Short Term Fund is rated Moderate and Union Ultra Short to Short Term Fund Low to Moderate. Over 1 years, the standard deviation of daily returns was 1.22% and 0.67% a year.
Can I invest in both Union Short Term Fund and Union Ultra Short to Short Term Fund?
Yes. 12.2% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Union Short Term Fund and Union Ultra Short to Short Term Fund?
Union Short Term Fund: Anindya Sarkar, Shrenuj Parekh. Union Ultra Short to Short Term Fund: Anindya Sarkar, Devesh Thacker.
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.