Parag Parikh Liquid Fund is a Liquid fund run by PPFAS Mutual Fund. On 30-09-2026, it managed ₹5,228 Cr of investors' money. In the 3 years to 30-10-2026, its Direct plan returned 6.7% a year and its Regular plan returned 6.5% a year.
NAV (Direct plan)
₹1,581.87
▲ 0.03% · 30-10-2026
NAV (Regular plan)
₹1,568.47
▲ 0.03% · 30-10-2026
Expense ratio
0.11%Direct0.21%Regular
0.11%
A year
Riskometer
Low to Moderate
Set by the fund house
3 year return
6.7%Direct6.5%Regular
6.7%
A year
Parag Parikh Liquid Fund NAV Today
NAV on 30-10-2026: Direct Plan Growth ₹1,581.87 (up 0.03% that day); Regular Plan Growth ₹1,568.47 (up 0.03% that day).
This fund (Direct plan)
₹1,581.8699
Parag Parikh Liquid Fund Returns vs Liquid 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)
+0.44%
+1.49%
+3.14%
+6.41%
+6.66%
+6.14%
--
This fund (Regular)
+0.44%
+1.47%
+3.10%
+6.30%
+6.55%
+6.03%
--
Liquid average
+0.44%
+1.46%
+3.06%
+6.23%
+6.66%
+6.18%
--
Best in Liquid
+0.48%
+1.54%
+3.26%
+6.54%
+6.96%
+6.47%
--
Worst in Liquid
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
--
Rank in Liquid
30/43
28/42
29/42
28/40
32/36
31/34
--
Category rows compare the Direct plans of 44 Liquid funds. Rank 1 is the highest return. This fund's benchmark is CRISIL Liquid Debt A-I Index. Returns of that index are not available to us, so the category average is the comparison.
Parag Parikh Liquid Fund Year-wise Returns
Return of each calendar year
Year
Direct
Regular
2026to date
+5.36%
+5.28%
2025
+6.35%
+6.24%
2024
+7.05%
+6.94%
2023
+6.71%
+6.61%
2022
+4.62%
+4.51%
2021
+3.21%
+3.11%
Parag Parikh Liquid 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 1,831 periods, one for each trading day from 14-05-2021 to 30-10-2026.
0%2%4%6%8%
Parag Parikh Liquid Fund (Direct)
Category average, 43 Liquid funds
Oct 2018 to Oct 2021Sept 2019 to Sept 2022Aug 2020 to Aug 2023Aug 2021 to Aug 2024Jul 2022 to Jul 2025May 2023 to May 2026
Parag Parikh Liquid Fund (Direct)Category average, 43 Liquid funds
0%
0%
Below 0%
46%
40%
0-5%
54%
60%
5-10%
0%
0%
10-15%
0%
0%
15-20%
0%
0%
20-25%
0%
0%
Above 25%
Every holding period at a glance
Period
Periods
Median
Lowest
Highest
With a loss
Category median
Beat category
1 year
2,438
6.2%
3.1%
7.1%
0%
6.2%
11%
2 years
2,133
5.7%
3.2%
7.0%
0%
6.0%
9%
3 years
1,831
5.3%
3.8%
6.8%
0%
5.4%
0%
5 years
1,225
5.1%
4.8%
6.1%
0%
5.2%
0%
7 years
530
5.4%
5.3%
5.4%
0%
5.5%
0%
Every SIP holding period at a glance
Period
Periods
Median
Lowest
Highest
With a loss
Category median
Beat category
1 year
90
6.1%
3.1%
7.1%
0%
6.2%
12%
2 years
78
5.7%
3.3%
7.0%
0%
5.9%
10%
3 years
66
5.7%
3.5%
6.9%
0%
5.8%
9%
5 years
42
5.9%
4.5%
6.5%
0%
6.0%
0%
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 43 Liquid funds (Direct plans, each weighted the same) over the same days. Past returns do not promise future returns.
Parag Parikh Liquid Fund Risk
How much it swings, and the falls an investor had to sit through
Risk and return
Measure
Parag Parikh Liquid Fund (Direct)This fund
Category average
Return (CAGR)
+6.41%
+6.22%
Standard deviation
0.20%
0.18%
Sharpe ratio
5.93
5.54
Sortino ratio
15.30
14.81
Maximum drawdown
−0.01%
(22-10-2026)
−0.01%
(22-10-2026)
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
Parag Parikh Liquid Fund (Direct)This fund
Category average
Return (CAGR)
+6.66%
+6.66%
Standard deviation
0.14%
0.14%
Sharpe ratio
4.60
4.68
Sortino ratio
11.46
12.26
Maximum drawdown
−0.01%
(22-10-2026)
−0.01%
(22-10-2026)
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
Parag Parikh Liquid Fund (Direct)This fund
Category average
Return (CAGR)
+6.14%
+6.19%
Standard deviation
0.15%
0.13%
Sharpe ratio
2.33
2.95
Sortino ratio
4.71
5.88
Maximum drawdown
−0.04%
(05-05-2022)
−0.03%
(05-05-2022)
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
Parag Parikh Liquid Fund (Direct)This fund
Category average
Return (CAGR)
+5.56%
+5.72%
Standard deviation
0.15%
0.16%
Sharpe ratio
1.82
2.69
Sortino ratio
3.47
5.18
Maximum drawdown
−0.04%
(05-05-2022)
−0.12%
(24-03-2020)
From daily NAVs, 14-05-2018 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.
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.
−0.2%−0.1%0%
Parag Parikh Liquid Fund (Direct)
Category average, 43 Liquid funds
20192020202120222023202420252026
Parag Parikh Liquid Fund (Direct)Category average, 43 Liquid funds
Worst fall
High before it
Bottom
Back at the high
Time to climb back
Below its high today
Parag Parikh Liquid Fund (Direct)
−0.04%
03-05-2022
05-05-2022
10-05-2022
5 days
0.0%
Category average
−0.12%
17-03-2020
24-03-2020
27-03-2020
3 days
0.0%
From the Direct plan's daily NAV since 14-05-2018, adjusted for unit splits, and the average of the 43 Liquid 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.
Parag Parikh Liquid Fund vs Other Liquid Funds
The five Liquid funds with the best three year return, and this fund. Direct plans.
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.
Parag Parikh Liquid 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
Liquid median
Cost rank (1 = cheapest)
Direct
0.09%
0.00%
0.01%
0.01%
0.11%
0.14%
13/43
Regular
0.17%
0.00%
0.01%
0.03%
0.21%
0.25%
10/43
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 Liquid 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
6.30%
6.41%
0.11%
₹1,06,300
₹1,06,410
3 years
6.55%
6.66%
0.11% a year
₹1,20,965
₹1,21,340
5 years
6.03%
6.14%
0.11% a year
₹1,34,012
₹1,34,709
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.
Parag Parikh Liquid 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
Step up each year
PeriodFor
₹10,000 on the first trading day of every month, from 14-05-2018 to 30-10-2026: 102 instalments, ₹10,20,000 in all.
Investment
Invested
Value now
Gain
Return a year
Direct planParag Parikh Liquid Fund (Direct)
₹10,20,000
₹13,13,974
₹2,93,974
5.8%
Regular planParag Parikh Liquid Fund (Regular)
₹10,20,000
₹13,08,035
₹2,88,035
5.7%
Category averageCategory average, 43 Liquid funds
₹10,20,000
₹13,17,625
₹2,97,625
5.9%
₹0₹5.0 L₹10.0 L₹15.0 L
Direct planParag Parikh Liquid Fund (Direct)
Regular planParag Parikh Liquid Fund (Regular)
Category averageCategory average, 43 Liquid funds
Amount invested
20192020202120222023202420252026
Direct planParag Parikh Liquid Fund (Direct)Regular planParag Parikh Liquid Fund (Regular)Category averageCategory average, 43 Liquid 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.
Parag Parikh Liquid Fund Asset Allocation
Asset allocation as on 30-09-2026
What the fund holds
89.7%Debt
Asset
Fund
Category
Debt
89.7%
97.0%
Cash and others
10.3%
6.5%
Credit rating
Bonds and money market papers by credit rating, % of the fund. Category: the average of 42 Liquid funds.
Rating
Fund
Category
Sovereign
5.0%
15.2%
AAA and A1+
84.7%
81.1%
Parag Parikh Liquid Fund Portfolio Holdings
As on 30-09-2026 · 40 holdings · from the fund house's monthly portfolio
Holdings
Rating
Weight%
Export Import Bank of India (04/11/2026) · Commercial paper
CRISIL A1+
4.75%
Axis Bank Limited (26/11/2026)
CRISIL A1+
4.74%
Canara Bank (23/11/2026) · Certificate of deposit
CRISIL A1+
4.74%
Small Industries Dev Bank of India (02/12/2026) · Commercial paper
CRISIL A1+
4.73%
HDFC Bank Limited (04/11/2026) · Certificate of deposit
CARE A1+
3.80%
LIC Housing Finance Limited (26/11/2026) · Commercial paper
CRISIL A1+
3.79%
HDFC Bank Limited (19/11/2026) · Certificate of deposit
CARE A1+
3.79%
Tata Capital Limited (04/12/2026) · Commercial paper
CRISIL A1+
3.78%
National Bank For Agriculture and Rural Development (11/12/2026) · Commercial paper
ICRA A1+
3.78%
Power Finance Corporation Limited (09/12/2026) · Commercial paper
CRISIL A1+
3.78%
Canara Bank (18/12/2026) · Certificate of deposit
CRISIL A1+
3.77%
Small Industries Dev Bank of India (18/12/2026) · Certificate of deposit
CARE A1+
3.30%
Bank of Baroda (07/12/2026) · Certificate of deposit
IND A1+
3.21%
National Bank For Agriculture and Rural Development (27/11/2026) · Commercial paper
CRISIL A1+
2.84%
ICICI Securities Limited (22/12/2026) · Commercial paper
CRISIL A1+
2.82%
Indian Bank (10/12/2026) · Certificate of deposit
CRISIL A1+
2.36%
8.95% Bharti Telecom NCD Ser XVII (MD 04/12/2026) · Bond
CRISIL AAA
2.20%
182 Days Tbill (MD 22/10/2026) · Treasury bill
Sovereign
1.91%
Bank of Baroda (11/11/2026) · Certificate of deposit
CARE A1+
1.90%
Axis Bank Limited (16/12/2026)
CRISIL A1+
1.89%
Tata Capital Limited (23/11/2026) · Commercial paper
CRISIL A1+
1.89%
HDFC Securities Limited (26/11/2026) · Commercial paper
ICRA A1+
1.89%
Export Import Bank of India (04/12/2026) · Commercial paper
CRISIL A1+
1.89%
Kotak Securities Limited (27/11/2026) · Commercial paper
CRISIL A1+
1.89%
Bajaj Finance Limited (03/12/2026) · Commercial paper
ICRA A1+
1.89%
Axis Bank Limited (17/12/2026)
CRISIL A1+
1.89%
Kotak Mahindra Bank Limited (21/12/2026)
CRISIL A1+
1.70%
Small Industries Dev Bank of India (10/11/2026) · Certificate of deposit
CARE A1+
1.42%
Axis Bank Limited (27/11/2026)
CRISIL A1+
1.42%
91 Days Tbill (MD 15/10/2026) · Treasury bill
Sovereign
1.34%
Bajaj Finance Limited (04/11/2026) · Commercial paper
ICRA A1+
0.95%
Small Industries Dev Bank of India (13/10/2026) · Certificate of deposit
CRISIL A1+
0.95%
7.37% Rajasthan SDL (MD 09/11/2026) · State government security
Sovereign
0.48%
7.4% Madhya Pradesh SDL (MD 09/11/2026) · State government security
Sovereign
0.48%
7.39% Haryana SDL (MD 09/11/2026) · State government security
Sovereign
0.48%
Bajaj Finance Limited (07/12/2026) · Commercial paper
ICRA A1+
0.47%
Canara Bank (08/12/2026) · Certificate of deposit
CRISIL A1+
0.47%
Corporate Debt Market Development Fund - Class A2 Units
0.29%
7.57% Gujarat SDL (MD 09/11/2026) · State government security
Sovereign
0.19%
7.42% Andhra Pradesh SDL (MD 09/11/2026) · State government security
Sovereign
0.10%
Parag Parikh Liquid Fund Portfolio Overlap
Funds with the most similar portfolios, across every fund house and category
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.
Parag Parikh Liquid Fund Overview
Fund facts from the scheme summary document, as on 16-10-2026
Expense ratio (Direct)
0.11%
Expense ratio (Regular)
0.21%
Category
Liquid
Risk
Low to Moderate
Benchmark
CRISIL Liquid Debt A-I Index
Launch date
11-05-2018
Minimum investment
₹5,000
Minimum additional investment
₹1,000
AUM
₹5,228.31 Cr (30-09-2026)
Lock in
None
Scheme code (Direct)
143269
ISIN (Direct)
INF879O01068
Scheme code (Regular)
143260
ISIN (Regular)
INF879O01035
NAV history
From 14-05-2018, 8.5 years
Exit load
Exit load of 0.0070% if redeemed within 1 day, 0.0065% if redeemed within 2 days, 0.0060% if redeemed within 3 days, 0.0055% if redeemed within 4 days, 0.0050% if redeemed within 5 days, 0.0045% if redeemed within 6 days.
Tax on Parag Parikh Liquid Fund returns
Parag Parikh Liquid 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
₹1,581.8699
30-10-2026
direct
Daily Reinvestment IDCW
₹1,000.5405
30-10-2026
direct
Monthly IDCW Payout
₹1,003.854
30-10-2026
direct
Weekly Reinvestment IDCW
₹1,001.8529
30-10-2026
regular
Growth
₹1,568.4687
30-10-2026
regular
Daily Reinvestment IDCW
₹1,000.5404
30-10-2026
regular
Monthly IDCW Payout
₹1,003.8436
30-10-2026
regular
Weekly Reinvestment IDCW
₹1,001.8417
30-10-2026
About Parag Parikh Liquid Fund
Parag Parikh Liquid Fund is a mutual fund from PPFAS Mutual Fund. Its category is Liquid. It was launched on 11-05-2018. Its benchmark is CRISIL Liquid Debt A-I Index. At the end of September 2026 it held 40 securities.
Fund Manager
Tejas Soman
Fund manager of Parag Parikh Liquid Fund, since 01-09-2025
Mansi Kariya
Fund manager of Parag Parikh Liquid Fund, since 22-12-2023
Aishwarya Dhar
Fund manager of Parag Parikh Liquid Fund, since 01-09-2025
Frequently Asked Questions for Parag Parikh Liquid Fund
What is the current NAV of Parag Parikh Liquid Fund?
The Direct plan NAV is ₹1,581.8699. The Regular plan NAV is ₹1,568.4687, as on 30-10-2026.
What are the returns of Parag Parikh Liquid Fund?
The Direct plan returned +6.41% in 1 year, +6.66% a year over 3 years, +6.14% a year over 5 years. The Regular plan returned +6.30% in 1 year, +6.55% a year over 3 years, +6.03% a year over 5 years. These figures are as on 30-10-2026.
What is the expense ratio of Parag Parikh Liquid Fund?
The Direct plan charges 0.11% a year. The Regular plan charges 0.21% a year. This is the figure the fund house reported to AMFI, in force from 01-09-2026.
What is the AUM of Parag Parikh Liquid Fund?
Parag Parikh Liquid Fund managed ₹5,228.31 Cr on 30-09-2026, as its fund house reported in its monthly portfolio.
What are the top holdings of Parag Parikh Liquid Fund?
At the end of September 2026 the largest holdings were Export Import Bank of India (04/11/2026) (4.75%), Axis Bank Limited (26/11/2026) (4.74%), Canara Bank (23/11/2026) (4.74%), Small Industries Dev Bank of India (02/12/2026) (4.73%), HDFC Bank Limited (04/11/2026) (3.80%). The fund held 40 securities in all.
How do I invest in Parag Parikh Liquid Fund?
Through PPFAS 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 Parag Parikh Liquid Fund?
What is the exit load of Parag Parikh Liquid Fund?
Exit load of 0.0070% if redeemed within 1 day, 0.0065% if redeemed within 2 days, 0.0060% if redeemed within 3 days, 0.0055% if redeemed within 4 days, 0.0050% if redeemed within 5 days, 0.0045% if redeemed within 6 days.
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.
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