PGIM India Ultra Short Term Fund

Ultra ShortDirect and Regular plans, Growth and IDCW options

Data as on 30-10-2026

PGIM India Ultra Short Term Fund is an Ultra Short fund run by PGIM India Mutual Fund. On 30-09-2026, it managed ₹232 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 6.3% a year.

NAV (Direct plan): ₹38.61; ▲ 0.02%30-10-2026
NAV (Regular plan): ₹36.62; ▲ 0.01%30-10-2026
Expense ratio: 0.33%Direct0.93%Regular; 0.33%; A year
Riskometer: Low to Moderate; Set by the fund house
3 year return: 7.0%Direct6.3%Regular; 7.0%; A year

PGIM India Ultra Short Term Fund NAV Today

NAV on 30-10-2026: Direct Plan Growth ₹38.61 (up 0.02% that day); Regular Plan Growth ₹36.62 (up 0.01% that day).

This fund (Direct plan)

₹38.609

PGIM India 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)	+0.36%	+1.46%	+3.20%	+6.13%	+7.00%	+6.51%	+7.19%
This fund (Regular)	+0.32%	+1.31%	+2.88%	+5.49%	+6.32%	+5.85%	+6.71%
Ultra Short average	+0.30%	+1.34%	+3.06%	+6.00%	+6.82%	+6.27%	+6.43%
Best in Ultra Short	+0.39%	+1.59%	+3.46%	+6.84%	+7.44%	+6.82%	+7.19%
Worst in Ultra Short	−0.11%	0.00%	+0.02%	0.00%	0.00%	+0.41%	+4.08%
Rank in Ultra Short	4/26	8/25	11/25	22/25	17/23	13/22	1/11

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.

PGIM India Ultra Short Term Fund Year-wise Returns

Return of each calendar year
Year	Direct	Regular
2026to date	+5.14%	+4.62%
2025	+7.03%	+6.35%
2024	+7.58%	+6.87%
2023	+7.21%	+6.52%
2022	+4.92%	+4.29%
2021	+3.74%	+3.26%

PGIM India 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 1,853 periods, one for each trading day from 08-03-2019 to 30-10-2026.

−5%0%5%10%15%20%

Oct 2016
to
Oct 2019Feb 2018
to
Feb 2021May 2019
to
May 2022Sept 2020
to
Sept 2023Dec 2021
to
Dec 2024Mar 2023
to
Mar 2026

PGIM India 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	2,337	7.2%	−20.5%	54.1%	0%	6.9%	81%
2 years	2,095	7.3%	−7.7%	26.7%	0%	6.8%	94%
3 years	1,853	7.2%	−2.9%	18.6%	1%	6.4%	99%
5 years	1,365	7.2%	5.9%	13.9%	0%	5.8%	100%
7 years	880	7.3%	6.1%	11.9%	0%	6.1%	100%
10 years	156	7.3%	7.2%	7.3%	0%	6.4%	100%

Every SIP holding period at a glance

Period	Periods	Median	Lowest	Highest	With a loss	Category median	Beat category
1 year	116	7.2%	3.6%	18.4%	0%	6.8%	82%
2 years	104	7.2%	3.8%	13.6%	0%	6.6%	93%
3 years	92	7.0%	4.4%	11.6%	0%	6.6%	100%
5 years	68	6.6%	6.0%	8.5%	0%	5.9%	100%
7 years	44	6.7%	6.4%	6.8%	0%	6.0%	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.

PGIM India Ultra Short Term Fund Risk

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

Risk and return

Measure	PGIM India Ultra Short Term Fund (Direct)This fund	Category average
Return (CAGR)	+6.13%	+6.00%
Standard deviation	0.40%	0.44%
Sharpe ratio	2.22	1.73
Sortino ratio	3.78	2.73
Maximum drawdown	−0.06% (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	PGIM India Ultra Short Term Fund (Direct)This fund	Category average
Return (CAGR)	+7.00%	+6.81%
Standard deviation	0.36%	0.36%
Sharpe ratio	2.73	2.17
Sortino ratio	5.41	3.92
Maximum drawdown	−0.06% (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	PGIM India Ultra Short Term Fund (Direct)This fund	Category average
Return (CAGR)	+6.51%	+6.28%
Standard deviation	0.34%	0.34%
Sharpe ratio	2.05	1.40
Sortino ratio	3.72	2.37
Maximum drawdown	−0.21% (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	PGIM India Ultra Short Term Fund (Direct)This fund	Category average
Return (CAGR)	+7.19%	+6.32%
Standard deviation	16.96%	0.50%
Sharpe ratio	0.11	1.84
Sortino ratio	0.19	2.99
Maximum drawdown	−30.3% (13-09-2019)	−0.77% (24-03-2020)

From daily NAVs, 28-10-2016 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	PGIM India Ultra Short Term Fund (Direct)This fund	Category average
Return (CAGR)	+7.30%	+6.50%
Standard deviation	16.44%	0.50%
Sharpe ratio	0.11	2.07
Sortino ratio	0.20	3.44
Maximum drawdown	−30.3% (13-09-2019)	−0.77% (24-03-2020)

From daily NAVs, 08-03-2016 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.

−40%−30%−20%−10%0%

20172019202120232025

PGIM India 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
PGIM India Ultra Short Term Fund (Direct)	−30.3%	12-09-2019	13-09-2019	27-09-2019	14 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 08-03-2016, 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.

PGIM India 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
PGIM India Ultra Short Term Fund	17/23	232	0.33%	+6.13%	+7.00%	--	--	2.73	5.41

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.

PGIM India 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	0.28%	0.00%	0.00%	0.05%	0.33%	0.30%	17/26
Regular	0.79%	0.00%	0.00%	0.14%	0.93%	0.81%	18/26

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	5.49%	6.13%	0.64%	₹1,05,490	₹1,06,130
3 years	6.32%	7.00%	0.68% a year	₹1,20,184	₹1,22,504
5 years	5.85%	6.51%	0.66% a year	₹1,32,878	₹1,37,073
10 years	6.71%	7.19%	0.48% a year	₹1,91,448	₹2,00,236

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.

PGIM India 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 08-03-2016 to 30-10-2026: 128 instalments, ₹12,80,000 in all.

Investment	Invested	Value now	Gain	Return a year
Direct planPGIM India Ultra Short Term Fund (Direct)	₹12,80,000	₹18,68,486	₹5,88,486	6.9%
Regular planPGIM India Ultra Short Term Fund (Regular)	₹12,80,000	₹18,10,942	₹5,30,942	6.3%
Category averageCategory average, 26 Ultra Short funds	₹12,80,000	₹18,02,399	₹5,22,399	6.2%

₹0₹5.0 L₹10.0 L₹15.0 L₹20.0 L

20172019202120232025

Direct planPGIM India Ultra Short Term Fund (Direct)Regular planPGIM India 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.

PGIM India Ultra Short Term Fund Asset Allocation

Asset allocation as on 30-09-2026

What the fund holds

95.6%Debt

Asset	Fund	Category
Debt	95.6%	96.7%
Cash and others	4.4%	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	10.9%	7.3%
AAA and A1+	73.9%	77.2%
AA	10.8%	12.2%

PGIM India Ultra Short Term Fund Portfolio Holdings

As on 30-09-2026 · 25 holdings · from the fund house's monthly portfolio

Holdings	Rating	Weight%
Punjab National Bank · Certificate of deposit	CRISIL A1+	8.81%
91 DAYS TBILL RED 17-12-2026 · Treasury bill	SOVEREIGN	8.54%
7.95% Sikka Ports and Terminals Ltd. · Bond	CRISIL AAA	6.48%
HDB Financial Services Ltd. · Commercial paper	CRISIL A1+	6.44%
Axis Bank Ltd.	CRISIL A1+	6.42%
Export Import Bank of India · Certificate of deposit	CRISIL A1+	6.30%
Kotak Mahindra Bank Ltd.	CRISIL A1+	5.88%
8.97% Muthoot Finance Ltd. · Bond	CRISIL AA+	4.33%
7.71% REC Ltd. · Bond	CRISIL AAA	4.32%
Canara Bank · Certificate of deposit	CRISIL A1+	4.23%
National Bank for Agriculture & Rural Development · Certificate of deposit	CRISIL A1+	4.22%
Small Industries Development Bank of India · Certificate of deposit	CRISIL A1+	4.21%
HDFC Bank Ltd. · Certificate of deposit	CARE A1+	4.20%
Infina Finance Pvt Ltd. · Commercial paper	CRISIL A1+	3.85%
8.15% Tata Steel Ltd. · Bond	CARE AA+	2.16%
8.5% Cholamandalam Investment & Finance Company Ltd. · Bond	ICRA AA+	2.16%
7.49% GIC Housing Finance Ltd. · Bond	CRISIL AA+	2.15%
JM Financial Services Ltd. · Commercial paper	CRISIL A1+	2.15%
364 DAYS TBILL RED 10-12-2026 · Treasury bill	SOVEREIGN	2.14%
Bank of Baroda · Certificate of deposit	ICRA A1+	2.10%
HDFC Bank Ltd. · Certificate of deposit	CARE A1+	1.70%
7.7% National Bank for Agriculture & Rural Development · Bond	ICRA AAA	1.30%
6.9% LIC Housing Finance Ltd. · Bond	CRISIL AAA	1.28%
SBI CDMDF--A2		0.62%
364 DAYS TBILL RED 22-07-2027 · Treasury bill	SOVEREIGN	0.19%

PGIM India Ultra Short Term Fund Portfolio Overlap

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

Fund	Overlap	Holdings in common
PGIM India Money Market FundMoney Market · PGIM India	43.8%	11	Compare
Tata CRISIL IBX Financial Services 3 6 Months Debt Index FundIndex · Tata	14.7%	3	Compare
ICICI Prudential CRISIL-IBX Financial Services 3-6 Months Debt Index FundIndex · ICICI Prudential	13.6%	4	Compare
ITI Ultra Short Term FundUltra Short · ITI	12.6%	5	Compare
Aditya Birla Sun Life Crisil-IBX Financial Services 3 to 6 months Debt Index FundIndex · Aditya Birla Sun Life	11.8%	4	Compare
Franklin India Ultra Short Term FundUltra Short · Franklin Templeton	10.9%	4	Compare
JioBlackRock Short Term FundShort Duration · Jio BlackRock	10.9%	3	Compare
Invesco India Money Market FundMoney Market · Invesco	10.8%	6	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.

PGIM India Ultra Short Term Fund Overview

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

Expense ratio (Direct): 0.33%
Expense ratio (Regular): 0.93%
Category: Ultra Short
Risk: Low to Moderate
Launch date: 24-10-2003
Minimum investment: ₹5,000
Minimum additional investment: ₹1,000
AUM: ₹231.55 Cr (30-09-2026)
Lock in: None
Scheme code (Direct): 138358
ISIN (Direct): INF223J01QO7
Scheme code (Regular): 138343
ISIN (Regular): INF223J01FK8
NAV history: From 08-03-2016, 10.6 years

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

Tax on PGIM India Ultra Short Term Fund returns

PGIM India 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	₹38.609	30-10-2026
direct	IDCW	₹10.0241	30-10-2026
direct	IDCW	₹12.2781	30-10-2026
direct	IDCW	₹10.2785	30-10-2026
regular	Growth	₹36.6206	30-10-2026
regular	IDCW	₹10.0203	30-10-2026
regular	IDCW	₹15.8156	30-10-2026
regular	IDCW	₹10.0895	30-10-2026

About PGIM India Ultra Short Term Fund

PGIM India Ultra Short Term Fund is a mutual fund from PGIM India Mutual Fund. Its category is Ultra Short. It was launched on 24-10-2003. Its benchmark is CRISIL Ultra Short Duration Debt A-I Index. At the end of September 2026 it held 25 securities.

Fund Manager

Puneet Pal
Fund manager of PGIM India Ultra Short Term Fund, since 16-07-2022
and Mr. Mr. Akhil Dhar
Fund manager of PGIM India Ultra Short Term Fund, since 25-02-2026

See all funds of PGIM India Mutual Fund

AUM change

September 2026: ₹231.55 Cr; +9.55% from August 2026
August 2026: ₹211.36 Cr; +19.97% from July 2026
July 2026: ₹176.18 Cr; +6.41% from June 2026

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

Compare PGIM India Ultra Short Term Fund with Other Funds

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

PGIM India Ultra Short Term vs Tata Ultra Short TermUltra Short
PGIM India Ultra Short Term vs Aditya Birla Sun Life Ultra Short TermUltra Short
PGIM India Ultra Short Term vs Axis Ultra Short Term fundUltra Short
PGIM India Ultra Short Term vs Mirae Asset Ultra Short-TermUltra Short
PGIM India Ultra Short Term vs ICICI Prudential Ultra Short TermUltra Short
PGIM India Ultra Short Term vs PGIM India Money Market43.8% overlap
PGIM India Ultra Short Term vs Tata CRISIL IBX Financial Services 3 6 Months Debt Index14.7% overlap
PGIM India Ultra Short Term vs ICICI Prudential CRISIL-IBX Financial Services 3-6 Months Debt Index13.6% overlap

Compare with any other fund

Frequently Asked Questions for PGIM India Ultra Short Term Fund

What is the current NAV of PGIM India Ultra Short Term Fund?

The Direct plan NAV is ₹38.609. The Regular plan NAV is ₹36.6206, as on 30-10-2026.

What are the returns of PGIM India Ultra Short Term Fund?

The Direct plan returned +6.13% in 1 year, +7.00% a year over 3 years, +6.51% a year over 5 years. The Regular plan returned +5.49% in 1 year, +6.32% a year over 3 years, +5.85% a year over 5 years. These figures are as on 30-10-2026.

What is the expense ratio of PGIM India Ultra Short Term Fund?

The Direct plan charges 0.33% a year. The Regular plan charges 0.93% a year. This is the figure the fund house reported to AMFI, in force from 18-09-2026.

What is the AUM of PGIM India Ultra Short Term Fund?

PGIM India Ultra Short Term Fund managed ₹231.55 Cr on 30-09-2026, as its fund house reported in its monthly portfolio.

What are the top holdings of PGIM India Ultra Short Term Fund?

At the end of September 2026 the largest holdings were Punjab National Bank (8.81%), 91 DAYS TBILL RED 17-12-2026 (8.54%), 7.95% Sikka Ports and Terminals Ltd. (6.48%), HDB Financial Services Ltd. (6.44%), Axis Bank Ltd. (6.42%). The fund held 25 securities in all.

How do I invest in PGIM India Ultra Short Term Fund?

Through PGIM India 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 PGIM India Ultra Short Term Fund?

Puneet Pal (since 16-07-2022), and Mr. Mr. Akhil Dhar (since 25-02-2026).

What is the exit load of PGIM India 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.