HDFC Ultra Short Term Fund

Ultra ShortDirect and Regular plans, Growth and IDCW options

Data as on 30-10-2026

HDFC Ultra Short Term Fund is an Ultra Short fund run by HDFC Mutual Fund. On 30-09-2026, it managed ₹15,675 Cr of investors' money. In the 3 years to 30-10-2026, its Direct plan returned 7.1% a year and its Regular plan returned 6.8% a year.

NAV (Direct plan): ₹16.79; ▲ 0.02%30-10-2026
NAV (Regular plan): ₹16.36; ▲ 0.02%30-10-2026
Expense ratio: 0.39%Direct0.71%Regular; 0.39%; A year
Riskometer: Moderate; Set by the fund house
3 year return: 7.1%Direct6.8%Regular; 7.1%; A year

HDFC Ultra Short Term Fund NAV Today

NAV on 30-10-2026: Direct Plan Growth ₹16.79 (up 0.02% that day); Regular Plan Growth ₹16.36 (up 0.02% that day).

This fund (Direct plan)

₹16.7929

HDFC Ultra Short Term Fund Returns vs Ultra Short Funds

Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.

Trailing returns
Period	1M	3M	6M	1Y	3Y	5Y	10Y
This fund (Direct)	+0.30%	+1.41%	+3.12%	+6.14%	+7.13%	+6.59%	--
This fund (Regular)	+0.28%	+1.33%	+2.94%	+5.78%	+6.78%	+6.24%	--
Ultra Short average	+0.30%	+1.34%	+3.06%	+6.00%	+6.82%	+6.27%	--
Best in Ultra Short	+0.39%	+1.59%	+3.46%	+6.84%	+7.44%	+6.82%	--
Worst in Ultra Short	−0.11%	0.00%	+0.02%	0.00%	0.00%	+0.41%	--
Rank in Ultra Short	18/26	18/25	19/25	21/25	13/23	12/22	--

Category rows compare the Direct plans of 26 Ultra Short funds. Rank 1 is the highest return. This fund's benchmark is CRISIL Ultra Short Duration Debt A-I Index. Returns of that index are not available to us, so the category average is the comparison.

HDFC Ultra Short Term Fund Year-wise Returns

Return of each calendar year
Year	Direct	Regular
2026to date	+5.09%	+4.79%
2025	+7.31%	+6.95%
2024	+7.80%	+7.47%
2023	+7.28%	+6.91%
2022	+4.81%	+4.49%
2021	+3.88%	+3.55%

HDFC Ultra Short Term Fund Rolling Returns

The return of every holding period in the fund's history, not only the one that ends today

Rolling returns

Each point is the yearly return of one 3-year holding period, plotted on the day it ended. There are 1,234 periods, one for each trading day from 27-09-2021 to 30-10-2026.

0%2%4%6%8%

Feb 2019
to
Feb 2022Jan 2020
to
Jan 2023Nov 2020
to
Nov 2023Sept 2021
to
Sept 2024Aug 2022
to
Aug 2025Jun 2023
to
Jun 2026

HDFC Ultra Short Term Fund (Direct)Category average, 26 Ultra Short funds

Every holding period at a glance

Period	Periods	Median	Lowest	Highest	With a loss	Category median	Beat category
1 year	1,719	7.0%	3.6%	8.9%	0%	6.5%	92%
2 years	1,475	6.7%	4.1%	8.1%	0%	6.3%	100%
3 years	1,234	6.1%	5.0%	7.5%	0%	5.8%	100%
5 years	749	6.1%	6.0%	6.6%	0%	5.8%	100%
7 years	264	6.4%	6.3%	6.7%	0%	6.1%	100%

Every SIP holding period at a glance

Period	Periods	Median	Lowest	Highest	With a loss	Category median	Beat category
1 year	86	7.0%	3.5%	9.0%	0%	6.6%	84%
2 years	74	6.8%	3.8%	7.9%	0%	6.3%	100%
3 years	62	6.4%	4.5%	7.8%	0%	6.1%	100%
5 years	38	6.6%	5.8%	7.0%	0%	6.3%	100%

Lumpsum: the yearly rate (CAGR) from the NAV on a period's first day to the NAV on its last. SIP: the XIRR of the monthly instalments and their value on the last day. "With a loss" counts the periods that ended below the money put in. "Beat category" counts the periods in which the fund did better than the average of the 26 Ultra Short funds (Direct plans, each weighted the same) over the same days. Past returns do not promise future returns.

HDFC Ultra Short Term Fund Risk

How much it swings, and the falls an investor had to sit through

Risk and return

Measure	HDFC Ultra Short Term Fund (Direct)This fund	Category average
Return (CAGR)	+6.14%	+6.00%
Standard deviation	0.49%	0.44%
Sharpe ratio	1.84	1.73
Sortino ratio	2.90	2.73
Maximum drawdown	−0.12% (08-07-2026)	−0.09% (08-07-2026)

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.

Measure	HDFC Ultra Short Term Fund (Direct)This fund	Category average
Return (CAGR)	+7.13%	+6.81%
Standard deviation	0.39%	0.36%
Sharpe ratio	2.81	2.17
Sortino ratio	5.18	3.92
Maximum drawdown	−0.12% (08-07-2026)	−0.09% (08-07-2026)

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.

Measure	HDFC Ultra Short Term Fund (Direct)This fund	Category average
Return (CAGR)	+6.59%	+6.28%
Standard deviation	0.37%	0.34%
Sharpe ratio	2.12	1.40
Sortino ratio	3.72	2.37
Maximum drawdown	−0.22% (06-05-2022)	−0.22% (06-05-2022)

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.

Measure	HDFC Ultra Short Term Fund (Direct)This fund	Category average
Return (CAGR)	+6.61%	+6.15%
Standard deviation	0.56%	0.51%
Sharpe ratio	2.40	1.75
Sortino ratio	4.97	2.83
Maximum drawdown	−1.0% (24-03-2020)	−0.77% (24-03-2020)

From daily NAVs, 25-09-2018 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.

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.

−1.2%−1%−0.8%−0.6%−0.4%−0.2%0%

20192020202120222023202420252026

HDFC Ultra Short Term Fund (Direct)Category average, 26 Ultra Short funds

	Worst fall	High before it	Bottom	Back at the high	Time to climb back	Below its high today
HDFC Ultra Short Term Fund (Direct)	−1.0%	11-03-2020	24-03-2020	27-03-2020	3 days	0.0%
Category average	−0.77%	11-03-2020	24-03-2020	27-03-2020	3 days	0.0%

From the Direct plan's daily NAV since 25-09-2018, adjusted for unit splits, and the average of the 26 Ultra Short funds (Direct plans, each weighted the same) over the same days. "Time to climb back" runs from the bottom to the first day back at the old high.

HDFC Ultra Short Term Fund vs Other Ultra Short Funds

The five Ultra Short funds with the best three year return, and this fund. Direct plans.

Fund name	Rank	AUM (Cr)	Exp. ratio	1Y return	3Y return	3Y alpha	3Y beta	3Y Sharpe	3Y Sortino
Tata Ultra Short Term Fund	1/23	5,404	0.33%	+6.84%	+7.44%	--	--	3.83	7.92	Compare
Aditya Birla Sun Life Ultra Short Term Fund	2/23	16,279	0.32%	+6.36%	+7.41%	--	--	3.30	6.20	Compare
Axis Ultra Short Term fund	3/23	4,996	0.36%	+6.56%	+7.37%	--	--	3.53	7.07	Compare
Mirae Asset Ultra Short-Term Fund	4/23	1,808	0.22%	+6.48%	+7.34%	--	--	3.33	6.25	Compare
ICICI Prudential Ultra Short Term Fund	5/23	15,236	0.40%	+6.37%	+7.31%	--	--	3.25	6.24	Compare
HDFC Ultra Short Term Fund	13/23	15,675	0.39%	+6.14%	+7.13%	--	--	2.81	5.18

AUM is each fund's size at the end of its last reported month, from its own portfolio file. We calculate the risk ratios from daily NAVs over the last three years. The risk-free return is what NSE's overnight rate index earned over the same years. Alpha and beta compare each fund with its own benchmark's TRI. "--" means we have no figure: for alpha and beta, no daily series for that benchmark.

HDFC Ultra Short Term Fund Expense Ratio and Costs

What each plan charges a year, in force from 18-09-2026

Plan	Base expense ratio	Brokerage	Transaction costs	Levies and GST	Total expense ratio	Ultra Short median	Cost rank (1 = cheapest)
Direct	0.33%	0.00%	0.00%	0.06%	0.39%	0.30%	24/26
Regular	0.60%	0.00%	0.00%	0.11%	0.71%	0.81%	8/26

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, the cost of executing trades, and statutory levies with GST. From AMFI's expense ratio file. Cost rank: where this plan comes when the Ultra Short funds' plans of the same type are sorted from the lowest total expense ratio to the highest.

Direct vs Regular: what the gap cost

Both plans own the same portfolio, so the difference in what they earned is the Regular plan's extra cost, taken out of its NAV.

Over the last	Regular	Direct	Direct earned more by	₹1 lakh became (Regular)	₹1 lakh became (Direct)
1 year	5.78%	6.14%	0.36%	₹1,05,780	₹1,06,140
3 years	6.78%	7.13%	0.35% a year	₹1,21,750	₹1,22,951
5 years	6.24%	6.59%	0.35% a year	₹1,35,344	₹1,37,589

Returns over more than 1 year are a rate a year (CAGR). ₹1 lakh invested once at the start of each period, valued on the last NAV.

HDFC Ultra Short Term Fund SIP Calculator

What a one-time or monthly investment in this fund would be worth today, from its own NAV history

Growth of an investment

Every month₹

Step up each year

PeriodFor

₹10,000 on the first trading day of every month, from 25-09-2018 to 30-10-2026: 98 instalments, ₹9,80,000 in all.

Investment	Invested	Value now	Gain	Return a year
Direct planHDFC Ultra Short Term Fund (Direct)	₹9,80,000	₹12,85,989	₹3,05,989	6.5%
Regular planHDFC Ultra Short Term Fund (Regular)	₹9,80,000	₹12,67,580	₹2,87,580	6.2%
Category averageCategory average, 26 Ultra Short funds	₹9,80,000	₹12,68,400	₹2,88,400	6.2%

₹0₹5.0 L₹10.0 L₹15.0 L

20192020202120222023202420252026

Direct planHDFC Ultra Short Term Fund (Direct)Regular planHDFC Ultra Short Term Fund (Regular)Category averageCategory average, 26 Ultra Short fundsAmount invested

From each plan's published NAV (Growth option) and the category average, 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.

HDFC Ultra Short Term Fund Asset Allocation

Asset allocation as on 30-09-2026

What the fund holds

99.4%Debt

Asset	Fund	Category
Debt	99.4%	96.7%
Cash and others	0.6%	3.8%

Credit rating

Bonds and money market papers by credit rating, % of the fund. Category: the average of 26 Ultra Short funds.

Rating	Fund	Category
Sovereign	9.6%	7.3%
AAA and A1+	72.6%	77.2%
AA	17.3%	12.2%

HDFC Ultra Short Term Fund Portfolio Holdings

As on 30-09-2026 · 128 holdings · from the fund house's monthly portfolio

Holdings	Rating	Weight%
National Bank for Financing Infrastructure and Development · Certificate of deposit	IND - A1+	8.67%
182 Days TBILL MAT 140127 · Treasury bill	Sovereign	3.77%
Yes Bank Ltd. · Certificate of deposit	CRISIL - A1+	3.11%
National Bank for Agri & Rural Dev. · Bond	ICRA - AAA	2.40%
Small Industries Development Bank · Certificate of deposit	CARE - A1+	2.40%
IIFL CAPITAL SERVICES LIMITED · Commercial paper	CRISIL - A1+	2.35%
Punjab National Bank · Certificate of deposit	CRISIL - A1+	2.34%
Indian Overseas Bank · Certificate of deposit	CARE - A1+	2.33%
Mindspace Business Parks REIT · Bond	CRISIL - AAA	2.18%
Radhakrishna Securitisation Trust (Originator - Jamnagar Utilities & Power Private Limited)	CRISIL - AAA(SO)	2.13%
National Bank for Financing Infrastructure and Development · Certificate of deposit	IND - A1+	2.02%
National Bank for Agri & Rural Dev. · Bond	ICRA - AAA	1.91%
REC Limited. · Bond	CARE - AAA	1.90%
ADITYA BIRLA RENEWABLES LIMITED · Bond	CRISIL - AA	1.75%
182 Days TBILL MAT 180227 · Treasury bill	Sovereign	1.72%
Poonawalla Fincorp Ltd · Bond	CRISIL - AAA	1.58%
TATA Capital Housing Finance Ltd. · Commercial paper	CRISIL - A1+	1.57%
Kotak Mahindra Bank Limited	CRISIL - A1+	1.55%
National Bank for Agri & Rural Dev. · Certificate of deposit	CRISIL - A1+	1.55%
SK FINANCE LIMITED · Bond	ICRA - AA-	1.28%
360 One Prime Limited · Bond	ICRA - AA	1.27%
BROOKFIELD INDIA REAL ESTATE TRUST · Bond	CRISIL - AAA	1.26%
Canara Bank · Certificate of deposit	CRISIL - A1+	1.25%
Union Bank of India · Certificate of deposit	ICRA - A1+	1.25%
Small Industries Development Bank · Certificate of deposit	CRISIL - A1+	1.21%
182 Days Tbill Mat 311226 · Treasury bill	Sovereign	1.13%
LIC Housing Finance Ltd. · Bond	CRISIL - AAA	1.12%
Nuclear Power Corporation of India Ltd. · Bond	ICRA - AAA	1.05%
360 One Prime Limited · Bond	ICRA - AA	1.05%
GMR Airports Limited · Bond	CRISIL - AA-	1.02%
ONGC Petro Additions Limited (Letter Of Comfort By ONGC Limited) · Bond	CRISIL - AA+	0.99%
Bajaj Housing Finance Ltd. · Bond	CRISIL - AAA	0.96%
Truhome Finance Limited · Bond	IND - AA	0.96%
Mahindra Rural Housing Finance Ltd · Bond	CRISIL - AAA	0.96%
Globe Capital Market Ltd · Bond	ICRA - AA-	0.95%
Poonawalla Fincorp Ltd · Bond	CRISIL - AAA	0.95%
Bank of Baroda · Certificate of deposit	CARE - A1+	0.94%
IDFC First Bank Limited · Certificate of deposit	CRISIL - A1+	0.93%
Canara Bank · Certificate of deposit	CRISIL - A1+	0.93%
Bharti Telecom Limited · Bond	CRISIL - AAA	0.92%
REC Limited. · Bond	CARE - AAA	0.85%
Power Finance Corporation Ltd. · Bond	CRISIL - AAA	0.79%
National Bank for Agri & Rural Dev. · Bond	CRISIL - AAA	0.79%
7.20% Tamil Nadu Mat 250127 · State government security	Sovereign	0.64%
Motilal Oswal Financial Services Ltd. · Bond	CRISIL - AA+	0.64%
Godrej Properties Ltd. · Bond	ICRA - AA+	0.64%
SMFG India Home Finance Company Ltd · Bond	CARE - AAA	0.63%
Axis Bank Ltd.	CRISIL - A1+	0.63%
SBFC Finance Limited · Bond	IND - AA-	0.63%
Poonawalla Fincorp Ltd · Bond	CRISIL - AAA	0.63%
National Bank for Agri & Rural Dev. · Certificate of deposit	ICRA - A1+	0.62%
Small Industries Development Bank · Certificate of deposit	CARE - A1+	0.62%
Indian Overseas Bank · Certificate of deposit	CARE - A1+	0.62%
Punjab & Sind Bank · Certificate of deposit	ICRA - A1+	0.62%
Julius Baer Capital (India) Pvt. Ltd. · Commercial paper	CRISIL - A1+	0.62%
Julius Baer Capital (India) Pvt. Ltd. · Commercial paper	CRISIL - A1+	0.62%
LIC Housing Finance Ltd. · Bond	CRISIL - AAA	0.60%
Muthoot Finance Ltd. · Bond	CRISIL - AA+	0.54%
91 Days TBILL MAT 191126 · Treasury bill	Sovereign	0.48%
Nexus Select Trust REIT · Bond	CRISIL - AAA	0.48%
Power Finance Corporation Ltd. · Bond	CRISIL - AAA	0.48%
ONGC Petro Additions Limited (Letter Of Comfort By ONGC Limited) · Bond	CRISIL - AA+	0.48%
360 One Prime Limited · Bond	ICRA - AA	0.48%
Muthoot Finance Ltd. · Bond	CRISIL - AA+	0.48%
National Housing Bank · Bond	CRISIL - AAA	0.48%
Torrent Power Ltd. · Bond	CRISIL - AA+	0.48%
Bharti Telecom Limited · Bond	CRISIL - AAA	0.47%
IGH Holdings Private Limited · Commercial paper	CRISIL - A1+	0.46%
Poonawalla Fincorp Ltd · Bond	CRISIL - AAA	0.45%
Muthoot Fincorp Limited · Commercial paper	CRISIL - A1+	0.43%
REC Limited. · Bond	CRISIL - AAA	0.42%
182 Days TBILL MAT 19112026 · Treasury bill	Sovereign	0.41%
Jubilant Beverages Limited · Bond	CRISIL - AA	0.39%
CanFin Homes Ltd. · Bond	ICRA - AAA	0.38%
Tata Teleservices Ltd. · Commercial paper	CRISIL - A1+	0.37%
7.39% TAMIL NADU SDL - Mat 091126 · State government security	Sovereign	0.35%
Corporate Debt Market Development Fund		0.33%
91 Days TBILL MAT 031226 · Treasury bill	Sovereign	0.32%
Globe Fincap Ltd · Bond	ICRA - AA-	0.32%
TATA Capital Housing Finance Ltd. · Bond	CRISIL - AAA	0.32%
Jubilant Bevco Limited · Bond	CRISIL - AA	0.32%
MAS Financial Services Ltd. · Bond	CARE - AA-	0.32%
Muthoot Finance Ltd. · Bond	CRISIL - AA+	0.32%
Muthoot Finance Ltd. · Bond	CRISIL - AA+	0.32%
Small Industries Development Bank · Bond	CRISIL - AAA	0.32%
Bank of Baroda · Certificate of deposit	CARE - A1+	0.31%
Housing and Urban Development Corporation Ltd. · Bond	CARE - AAA	0.31%
Bank of India · Certificate of deposit	CARE - A1+	0.31%
National Bank for Agri & Rural Dev. · Certificate of deposit	IND - A1+	0.31%
Yes Bank Ltd. · Certificate of deposit	CRISIL - A1+	0.31%
Aditya Birla Capital ltd. · Commercial paper	ICRA - A1+	0.31%
7.39% Maharashtra SDL MAT 091126 · State government security	Sovereign	0.29%
NHPC Ltd. · Bond	CARE - AAA	0.29%
Indigo 049 (Originator - Muthoot Capital Services Limited)	CRISIL - AAA(SO)	0.26%
LIC Housing Finance Ltd. · Bond	CRISIL - AAA	0.22%
360 One Prime Limited · Bond	ICRA - AA	0.22%
Vastu Finserve India Pvt. Ltd. · Bond	CARE - AA	0.19%
Vastu Finserve India Pvt. Ltd. · Bond	CARE - AA	0.19%
Vastu Finserve India Pvt. Ltd. · Bond	CARE - AA	0.19%
Aavas Financiers Ltd. · Bond	CARE - AA	0.19%
Indigo 043 (Originator - Muthoot Capital Services Limited)	CRISIL - AAA(SO)	0.19%
MANKIND PHARMA LIMITED · Bond	CRISIL - AA+	0.19%
364 Days Tbill Mat 031226 · Treasury bill	Sovereign	0.16%
Pipeline Infrastructure Pvt. Ltd. · Bond	CRISIL - AAA	0.16%
REC Limited. · Bond	CRISIL - AAA	0.16%
LIC Housing Finance Ltd. · Bond	CRISIL - AAA	0.16%
Power Finance Corporation Ltd. · Bond	CRISIL - AAA	0.16%
Power Finance Corporation Ltd. · Bond	CARE - AAA	0.16%
Power Finance Corporation Ltd. · Bond	CRISIL - AAA	0.16%
SMFG India Home Finance Company Ltd · Bond	CRISIL - AAA	0.16%
National Bank for Agri & Rural Dev. · Bond	CRISIL - AAA	0.16%
Bharti Telecom Limited · Bond	CRISIL - AAA	0.16%
Muthoot Finance Ltd. · Bond	CRISIL - AA+	0.16%
L&T Finance Ltd. · Bond	ICRA - AAA	0.16%
Small Industries Development Bank · Bond	CRISIL - AAA	0.16%
JM Financial Credit Solutions Ltd. · Bond	ICRA - AA	0.16%
Motilal Oswal Home Fin Ltd. (Erst Aspire Home Fin) · Bond	CRISIL - AA+	0.16%
NHPC Ltd. · Bond	CARE - AAA	0.16%
Small Industries Development Bank · Commercial paper	CRISIL - A1+	0.15%
7.23% Tamil Nadu Mat 261026 · State government security	Sovereign	0.13%
7.24% Uttar Pradesh Mat 261026 · State government security	Sovereign	0.13%
Bank of Baroda · Certificate of deposit	CARE - A1+	0.06%
Power Finance Corporation Ltd. · Bond	CRISIL - AAA	0.06%
Nuclear Power Corporation of India Ltd. · Bond	CRISIL - AAA	0.06%
Nuclear Power Corporation of India Ltd. · Bond	CRISIL - AAA	0.06%
7.15% Kerala SDL - Mat 131026 · State government security	Sovereign	0.03%
National Bank for Agri & Rural Dev. · Certificate of deposit	ICRA - A1+	0.03%
364 Days TBILL ISD 080426 MAT 080427 · Treasury bill	Sovereign	0.01%

HDFC Ultra Short Term Fund Portfolio Overlap

Funds with the most similar portfolios, across every fund house and category

Fund	Overlap	Holdings in common
HDFC Ultra Short to Short Term FundLow Duration · HDFC	19.2%	36	Compare
ICICI Prudential Ultra Short Term FundUltra Short · ICICI Prudential	18.9%	29	Compare
HDFC Money Market FundMoney Market · HDFC	17.8%	26	Compare
UTI Ultra Short to Short Term FundLow Duration · UTI	13.4%	12	Compare
Kotak Ultra Short to Short Term FundLow Duration · Kotak Mahindra	12.0%	15	Compare
ICICI Prudential Ultra Short to Short Term FundLow Duration · ICICI Prudential	11.8%	24	Compare
Invesco India Ultra Short Term FundUltra Short · Invesco	11.8%	13	Compare
Nippon India Ultra Short Term FundUltra Short · Nippon India	11.4%	18	Compare

Overlap: for each holding both funds own, the smaller of its two weights, added up. 40% means 40% of each fund's money sits in positions the other also holds. From each fund's latest monthly portfolio, matched by ISIN. Cash and hedged positions are left out. Funds that overlap under 10% are not listed. A high overlap does not make two funds the same: their costs, lock-in and category can differ.

HDFC Ultra Short Term Fund Overview

Fund facts from the scheme summary document, as on 16-10-2026

Expense ratio (Direct): 0.39%
Expense ratio (Regular): 0.71%
Category: Ultra Short
Risk: Moderate
Launch date: 25-09-2018
Minimum investment: ₹100
Minimum additional investment: ₹100
AUM: ₹15,674.64 Cr (30-09-2026)
Lock in: None
Scheme code (Direct): 145034
ISIN (Direct): INF179KB15Q6
Scheme code (Regular): 145040
ISIN (Regular): INF179KB11R3
NAV history: From 25-09-2018, 8.1 years

Benchmark: CRISIL Ultra Short Duration Debt A-I Index
Exit load: NIL

Tax on HDFC Ultra Short Term Fund returns

HDFC Ultra Short Term Fund is taxed as a debt fund: 65% or more of it is in bonds and money market papers.
For units bought on or after 01-04-2023, the gain is added to your income and taxed at your slab rate, however long you hold the units.
IDCW (dividend) payouts are added to your income and taxed at your slab rate.
A stamp duty of 0.005% is deducted when you invest.

Rules in force from 23-07-2024 (Finance Act 2024). Tax depends on your own income; this is general information, not tax advice.

All plans and options

Plan	Option	NAV	As on
direct	Growth	₹16.7929	30-10-2026
direct	Daily IDCW	₹10.092	30-10-2026
direct	Monthly IDCW	₹10.0582	30-10-2026
direct	Weekly IDCW	₹10.055	30-10-2026
regular	Growth	₹16.3633	30-10-2026
regular	Daily IDCW	₹10.103	30-10-2026
regular	Monthly IDCW	₹10.1579	30-10-2026
regular	Weekly IDCW	₹10.0541	30-10-2026

About HDFC Ultra Short Term Fund

HDFC Ultra Short Term Fund is a mutual fund from HDFC Mutual Fund. Its category is Ultra Short. It was launched on 25-09-2018. Its benchmark is CRISIL Ultra Short Duration Debt A-I Index. At the end of September 2026 it held 128 securities.

Fund Manager

Anil Bamboli
Fund manager of HDFC Ultra Short Term Fund, since 25-09-2018
Praveen Jain
Fund manager of HDFC Ultra Short Term Fund, since 30-08-2024
Gopal Agrawal
Fund manager of HDFC Ultra Short Term Fund, since 01-09-2026

See all funds of HDFC Mutual Fund

AUM change

September 2026: ₹15,674.64 Cr; −10.25% from August 2026
August 2026: ₹17,464.92 Cr; +4.72% from July 2026
July 2026: ₹16,677.73 Cr; +4.57% from June 2026

AUM moves with money invested or taken out, and with the value of what the fund holds.

Compare HDFC Ultra Short Term Fund with Other Funds

Returns, risk, costs and the stocks they share, side by side

HDFC Ultra Short Term vs Tata Ultra Short TermUltra Short
HDFC Ultra Short Term vs Aditya Birla Sun Life Ultra Short TermUltra Short
HDFC Ultra Short Term vs Axis Ultra Short Term fundUltra Short
HDFC Ultra Short Term vs Mirae Asset Ultra Short-TermUltra Short
HDFC Ultra Short Term vs ICICI Prudential Ultra Short Term18.9% overlap
HDFC Ultra Short Term vs HDFC Ultra Short to Short Term19.2% overlap
HDFC Ultra Short Term vs HDFC Money Market17.8% overlap
HDFC Ultra Short Term vs UTI Ultra Short to Short Term13.4% overlap

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Frequently Asked Questions for HDFC Ultra Short Term Fund

What is the current NAV of HDFC Ultra Short Term Fund?

The Direct plan NAV is ₹16.7929. The Regular plan NAV is ₹16.3633, as on 30-10-2026.

What are the returns of HDFC Ultra Short Term Fund?

The Direct plan returned +6.14% in 1 year, +7.13% a year over 3 years, +6.59% a year over 5 years. The Regular plan returned +5.78% in 1 year, +6.78% a year over 3 years, +6.24% a year over 5 years. These figures are as on 30-10-2026.

What is the expense ratio of HDFC Ultra Short Term Fund?

The Direct plan charges 0.39% a year. The Regular plan charges 0.71% a year. This is the figure the fund house reported to AMFI, in force from 18-09-2026.

What is the AUM of HDFC Ultra Short Term Fund?

HDFC Ultra Short Term Fund managed ₹15,674.64 Cr on 30-09-2026, as its fund house reported in its monthly portfolio.

What are the top holdings of HDFC Ultra Short Term Fund?

At the end of September 2026 the largest holdings were National Bank for Financing Infrastructure and Development (8.67%), 182 Days TBILL MAT 140127 (3.77%), Yes Bank Ltd. (3.11%), National Bank for Agri & Rural Dev. (2.40%), Small Industries Development Bank (2.40%). The fund held 128 securities in all.

How do I invest in HDFC Ultra Short Term Fund?

Through HDFC Mutual Fund's website or app, a mutual fund distributor, or an investment platform. Choose the Direct plan to pay no distributor commission, or the Regular plan to invest through a distributor. The first investment is at least ₹100. You can invest once or through a monthly SIP.

Who is the fund manager of HDFC Ultra Short Term Fund?

Anil Bamboli (since 25-09-2018), Praveen Jain (since 30-08-2024), Gopal Agrawal (since 01-09-2026).

What is the exit load of HDFC Ultra Short Term Fund?

NIL

Sources: NAV and expense ratio from AMFI. Holdings from the fund house's monthly portfolio statement. Fund facts from its scheme summary document, as on 16-10-2026.

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.