ITI Ultra Short Term Fund

Ultra ShortDirect and Regular plans, Growth and IDCW options

Data as on 30-10-2026

ITI Ultra Short Term Fund is an Ultra Short fund run by ITI Mutual Fund. On 30-09-2026, it managed ₹167 Cr of investors' money. In the 3 years to 30-10-2026, its Direct plan returned 7.0% a year and its Regular plan returned 6.2% a year.

NAV (Direct plan): ₹1,388.36; ▲ 0.02%30-10-2026
NAV (Regular plan): ₹1,328.07; ▲ 0.02%30-10-2026
Expense ratio: 0.21%Direct0.91%Regular; 0.21%; A year
Riskometer: Low to Moderate; Set by the fund house
3 year return: 7.0%Direct6.2%Regular; 7.0%; A year

ITI Ultra Short Term Fund NAV Today

NAV on 30-10-2026: Direct Plan Growth ₹1,388.36 (up 0.02% that day); Regular Plan Growth ₹1,328.07 (up 0.02% that day).

This fund (Direct plan)

₹1,388.3642

ITI 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)	+0.33%	+1.39%	+3.06%	+6.26%	+6.99%	+6.43%	--
This fund (Regular)	+0.27%	+1.22%	+2.70%	+5.48%	+6.16%	+5.58%	--
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	11/26	20/25	22/25	17/25	18/23	16/22	--

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.

ITI Ultra Short Term Fund Year-wise Returns

Return of each calendar year
Year	Direct	Regular
2026to date	+5.20%	+4.57%
2025	+6.98%	+6.20%
2024	+7.49%	+6.58%
2023	+7.18%	+6.28%
2022	+4.65%	+3.77%

ITI 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 604 periods, one for each trading day from 06-05-2024 to 30-10-2026.

0%2%4%6%8%

Jul 2021
to
Jul 2024Dec 2021
to
Dec 2024May 2022
to
May 2025Oct 2022
to
Oct 2025Mar 2023
to
Mar 2026Aug 2023
to
Aug 2026

ITI 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	1,086	7.0%	3.3%	7.8%	0%	6.8%	88%
2 years	843	7.0%	4.7%	7.5%	0%	6.8%	89%
3 years	604	7.1%	5.6%	7.3%	0%	6.9%	100%
5 years	120	6.3%	6.1%	6.4%	0%	6.2%	100%

Period	Periods	Median	Lowest	Highest	With a loss	Category median	Beat category
1 year	54	7.0%	3.3%	7.8%	0%	6.8%	81%
2 years	42	7.0%	5.4%	7.6%	0%	6.9%	100%
3 years	30	7.0%	6.5%	7.5%	0%	6.8%	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.

ITI Ultra Short Term Fund Risk

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

Risk and return

Measure	ITI Ultra Short Term Fund (Direct)This fund	Category average
Return (CAGR)	+6.26%	+6.00%
Standard deviation	0.38%	0.44%
Sharpe ratio	2.64	1.73
Sortino ratio	4.48	2.73
Maximum drawdown	−0.09% (22-10-2026)	−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	ITI Ultra Short Term Fund (Direct)This fund	Category average
Return (CAGR)	+6.99%	+6.81%
Standard deviation	0.35%	0.36%
Sharpe ratio	2.79	2.17
Sortino ratio	5.56	3.92
Maximum drawdown	−0.09% (22-10-2026)	−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	ITI Ultra Short Term Fund (Direct)This fund	Category average
Return (CAGR)	+6.43%	+6.28%
Standard deviation	0.33%	0.34%
Sharpe ratio	1.89	1.40
Sortino ratio	3.43	2.37
Maximum drawdown	−0.19% (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	ITI Ultra Short Term Fund (Direct)This fund	Category average
Return (CAGR)	+6.16%	+6.07%
Standard deviation	0.33%	0.33%
Sharpe ratio	1.80	1.48
Sortino ratio	3.28	2.56
Maximum drawdown	−0.19% (06-05-2022)	−0.22% (06-05-2022)

From daily NAVs, 06-05-2021 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.

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.

−0.3%−0.2%−0.1%0%

20222023202420252026

ITI 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
ITI Ultra Short Term Fund (Direct)	−0.19%	02-05-2022	06-05-2022	23-05-2022	17 days	0.0%
Category average	−0.22%	02-05-2022	06-05-2022	27-05-2022	21 days	0.0%

From the Direct plan's daily NAV since 06-05-2021, 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.

ITI 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
ITI Ultra Short Term Fund	18/23	167	0.21%	+6.26%	+6.99%	--	--	2.79	5.56

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.

ITI Ultra Short Term Fund Expense Ratio and Costs

What each plan charges a year, in force from 01-09-2026

Plan	Base expense ratio	Brokerage	Transaction costs	Levies and GST	Total expense ratio	Ultra Short median	Cost rank (1 = cheapest)
Direct	0.17%	0.01%	0.00%	0.03%	0.21%	0.30%	3/26
Regular	0.79%	0.01%	0.00%	0.11%	0.91%	0.81%	16/26

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	5.48%	6.26%	0.78%	₹1,05,480	₹1,06,260
3 years	6.16%	6.99%	0.83% a year	₹1,19,642	₹1,22,470
5 years	5.58%	6.43%	0.85% a year	₹1,31,192	₹1,36,559

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.

ITI 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 06-05-2021 to 30-10-2026: 66 instalments, ₹6,60,000 in all.

Investment	Invested	Value now	Gain	Return a year
Direct planITI Ultra Short Term Fund (Direct)	₹6,60,000	₹7,94,502	₹1,34,502	6.7%
Regular planITI Ultra Short Term Fund (Regular)	₹6,60,000	₹7,76,439	₹1,16,439	5.9%
Category averageCategory average, 26 Ultra Short funds	₹6,60,000	₹7,90,941	₹1,30,941	6.5%

₹0₹2.0 L₹4.0 L₹6.0 L₹8.0 L

20222023202420252026

Direct planITI Ultra Short Term Fund (Direct)Regular planITI 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.

ITI Ultra Short Term Fund Asset Allocation

Asset allocation as on 30-09-2026

What the fund holds

97.9%Debt

Asset	Fund	Category
Debt	97.9%	96.7%
Cash and others	2.1%	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	9.5%	7.3%
AAA and A1+	88.5%	77.2%

ITI Ultra Short Term Fund Portfolio Holdings

As on 30-09-2026 · 24 holdings · from the fund house's monthly portfolio

Holdings	Rating	Weight%
Export Import Bank of India (14/12/2026) · Commercial paper	CRISIL A1+	9.48%
Indian Bank (24/06/2027) · Certificate of deposit	CRISIL A1+	8.55%
Bank of Baroda (05/03/2027) · Certificate of deposit	CARE A1+	8.17%
ICICI Securities Limited (26/10/2026) · Commercial paper	CRISIL A1+	6.57%
7.95% REC Limited (12/03/2027) · Bond	CRISIL AAA	6.02%
91 Days Tbill (MD 24/12/2026) · Treasury bill	Sovereign	5.93%
LIC Housing Finance Limited (11/02/2027) · Commercial paper	CRISIL A1+	5.86%
Axis Bank Limited (12/02/2027)	CRISIL A1+	5.86%
Small Industries Dev Bank of India (18/02/2027) · Certificate of deposit	CRISIL A1+	5.85%
Canara Bank (04/03/2027) · Certificate of deposit	CRISIL A1+	5.83%
HDFC Bank Limited (14/12/2026) · Certificate of deposit	CARE A1+	3.26%
HDFC Securities Limited (24/12/2026) · Commercial paper	CRISIL A1+	3.25%
6.4% LIC Housing Finance Limited (30/11/2026) · Bond	CRISIL AAA	3.00%
6.60% REC Limited (30/06/2027) · Bond	ICRA AAA	2.98%
91 Days Tbill (MD 17/12/2026) · Treasury bill	Sovereign	2.97%
National Bank For Agriculture and Rural Development (28/01/2027) · Certificate of deposit	CRISIL A1+	2.94%
Punjab National Bank (05/02/2027) · Certificate of deposit	CRISIL A1+	2.93%
ICICI Bank Limited (08/03/2027)	ICRA A1+	2.92%
Union Bank of India (12/03/2027) · Certificate of deposit	ICRA A1+	2.91%
HDFC Bank Limited (22/01/2027) · Certificate of deposit	CARE A1+	1.18%
364 Days Tbill (MD 25/12/2026) · Treasury bill	Sovereign	0.59%
Bank of Baroda (11/12/2026) · Certificate of deposit	FITCH A1+	0.59%
Corporate Debt Market Development Fund Class A2		0.40%
Punjab National Bank (15/12/2026) · Certificate of deposit	CRISIL A1+	0.30%

ITI Ultra Short Term Fund Portfolio Overlap

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

Fund	Overlap	Holdings in common
ITI Liquid FundLiquid · ITI	33.3%	10	Compare
PGIM India Money Market FundMoney Market · PGIM India	23.0%	6	Compare
JioBlackRock Ultra Short to Short Term FundLow Duration · Jio BlackRock	18.3%	5	Compare
Franklin India Ultra Short Term FundUltra Short · Franklin Templeton	17.2%	4	Compare
Baroda BNP Paribas Ultra Short to Short Term FundLow Duration · Baroda BNP Paribas	16.3%	5	Compare
Baroda BNP Paribas Ultra Short Term FundUltra Short · Baroda BNP Paribas	15.7%	6	Compare
HSBC Ultra Short Term FundUltra Short · HSBC	15.5%	6	Compare
Invesco India Money Market FundMoney Market · Invesco	14.2%	8	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.

ITI Ultra Short Term Fund Overview

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

Expense ratio (Direct): 0.21%
Expense ratio (Regular): 0.91%
Category: Ultra Short
Risk: Low to Moderate
Launch date: 05-05-2021
Minimum investment: ₹5,000
Minimum additional investment: ₹1,000
AUM: ₹166.59 Cr (30-09-2026)
Lock in: None
Scheme code (Direct): 148913
ISIN (Direct): INF00XX01AE2
Scheme code (Regular): 148906
ISIN (Regular): INF00XX01952
NAV history: From 06-05-2021, 5.5 years

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

Tax on ITI Ultra Short Term Fund returns

ITI 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	₹1,388.3642	30-10-2026
direct	Annually IDCW	₹1,390.133	30-10-2026
direct	Monthly IDCW	₹1,001.5197	30-10-2026
direct	Weekly IDCW	₹1,001.5253	30-10-2026
regular	Growth	₹1,328.0749	30-10-2026
regular	Annually IDCW	₹1,328.1386	30-10-2026
regular	Daily IDCW	₹1,000.9998	30-10-2026
regular	Fortnightly IDCW	₹1,001.4823	30-10-2026
regular	Monthly IDCW	₹1,001.466	30-10-2026
regular	Weekly IDCW	₹1,001.4657	30-10-2026

About ITI Ultra Short Term Fund

ITI Ultra Short Term Fund is a mutual fund from ITI Mutual Fund. Its category is Ultra Short. It was launched on 05-05-2021. Its benchmark is CRISIL Ultra Short Duration Debt A-I Index. At the end of September 2026 it held 24 securities.

Fund Manager

Laukik Bagwe
Fund manager of ITI Ultra Short Term Fund, since 01-02-2025

See all funds of ITI Mutual Fund

AUM change

September 2026: ₹166.59 Cr; +0.70% from August 2026
August 2026: ₹165.44 Cr; +1.80% from July 2026
July 2026: ₹162.51 Cr; +6.33% from June 2026

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

Compare ITI Ultra Short Term Fund with Other Funds

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

ITI Ultra Short Term vs Tata Ultra Short TermUltra Short
ITI Ultra Short Term vs Aditya Birla Sun Life Ultra Short TermUltra Short
ITI Ultra Short Term vs Axis Ultra Short Term fundUltra Short
ITI Ultra Short Term vs Mirae Asset Ultra Short-TermUltra Short
ITI Ultra Short Term vs ICICI Prudential Ultra Short TermUltra Short
ITI Ultra Short Term vs ITI Liquid33.3% overlap
ITI Ultra Short Term vs PGIM India Money Market23.0% overlap
ITI Ultra Short Term vs JioBlackRock Ultra Short to Short Term18.3% overlap

Compare with any other fund

Frequently Asked Questions for ITI Ultra Short Term Fund

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

The Direct plan NAV is ₹1,388.3642. The Regular plan NAV is ₹1,328.0749, as on 30-10-2026.

What are the returns of ITI Ultra Short Term Fund?

The Direct plan returned +6.26% in 1 year, +6.99% a year over 3 years, +6.43% a year over 5 years. The Regular plan returned +5.48% in 1 year, +6.16% a year over 3 years, +5.58% a year over 5 years. These figures are as on 30-10-2026.

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

The Direct plan charges 0.21% a year. The Regular plan charges 0.91% a year. This is the figure the fund house reported to AMFI, in force from 01-09-2026.

What is the AUM of ITI Ultra Short Term Fund?

ITI Ultra Short Term Fund managed ₹166.59 Cr on 30-09-2026, as its fund house reported in its monthly portfolio.

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

At the end of September 2026 the largest holdings were Export Import Bank of India (14/12/2026) (9.48%), Indian Bank (24/06/2027) (8.55%), Bank of Baroda (05/03/2027) (8.17%), ICICI Securities Limited (26/10/2026) (6.57%), 7.95% REC Limited (12/03/2027) (6.02%). The fund held 24 securities in all.

How do I invest in ITI Ultra Short Term Fund?

Through ITI 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 ₹5,000. You can invest once or through a monthly SIP.

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

Laukik Bagwe (since 01-02-2025).

What is the exit load of ITI 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.