Tata Ultra Short Term Fund is an Ultra Short fund run by Tata Mutual Fund. On 30-09-2026, it managed ₹5,404 Cr of investors' money. In the 3 years to 30-10-2026, its Direct plan returned 7.4% a year and its Regular plan returned 6.5% a year.
NAV on 30-10-2026: Direct Plan Growth ₹16.27 (up 0.02% that day); Regular Plan Growth ₹15.30 (up 0.02% that day).
Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.
| Period | 1M | 3M | 6M | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|---|---|---|
| This fund (Direct) | +0.39% | +1.59% | +3.46% | +6.84% | +7.44% | +6.82% | -- |
| This fund (Regular) | +0.32% | +1.37% | +3.02% | +5.93% | +6.55% | +5.94% | -- |
| 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 | 1/26 | 1/25 | 1/25 | 1/25 | 1/23 | 1/22 | -- |
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.
| Year | Direct | Regular |
|---|---|---|
| 2026to date | +5.71% | +4.97% |
| 2025 | +7.47% | +6.55% |
| 2024 | +7.88% | +7.01% |
| 2023 | +7.40% | +6.47% |
| 2022 | +4.93% | +4.11% |
| 2021 | +3.89% | +3.09% |
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 1,154 periods, one for each trading day from 24-01-2022 to 30-10-2026.
Tata 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 | 1,639 | 6.9% | 3.7% | 8.3% | 0% | 6.4% | 84% |
| 2 years | 1,394 | 6.3% | 4.0% | 7.9% | 0% | 6.1% | 89% |
| 3 years | 1,154 | 6.0% | 4.8% | 7.7% | 0% | 5.7% | 90% |
| 5 years | 670 | 6.1% | 5.9% | 6.8% | 0% | 5.8% | 100% |
| 7 years | 184 | 6.3% | 6.3% | 6.4% | 0% | 6.0% | 100% |
Every SIP holding period at a glance
| Period | Periods | Median | Lowest | Highest | With a loss | Category median | Beat category |
|---|---|---|---|---|---|---|---|
| 1 year | 82 | 6.9% | 3.7% | 8.3% | 0% | 6.5% | 84% |
| 2 years | 70 | 6.7% | 3.9% | 8.0% | 0% | 6.2% | 90% |
| 3 years | 58 | 6.8% | 4.4% | 7.9% | 0% | 6.3% | 98% |
| 5 years | 34 | 6.9% | 5.8% | 7.3% | 0% | 6.5% | 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.
How much it swings, and the falls an investor had to sit through
Risk and return
| Measure | Tata Ultra Short Term Fund (Direct)This fund | Category average |
|---|---|---|
| Return (CAGR) | +6.84% | +6.00% |
| Standard deviation | 0.45% | 0.44% |
| Sharpe ratio | 3.55 | 1.73 |
| Sortino ratio | 6.36 | 2.73 |
| Maximum drawdown | −0.09% (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 | Tata Ultra Short Term Fund (Direct)This fund | Category average |
|---|---|---|
| Return (CAGR) | +7.44% | +6.81% |
| Standard deviation | 0.37% | 0.36% |
| Sharpe ratio | 3.83 | 2.17 |
| Sortino ratio | 7.92 | 3.92 |
| Maximum drawdown | −0.09% (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 | Tata Ultra Short Term Fund (Direct)This fund | Category average |
|---|---|---|
| Return (CAGR) | +6.82% | +6.28% |
| Standard deviation | 0.36% | 0.34% |
| Sharpe ratio | 2.84 | 1.40 |
| Sortino ratio | 5.38 | 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 | Tata Ultra Short Term Fund (Direct)This fund | Category average |
|---|---|---|
| Return (CAGR) | +6.46% | +6.13% |
| Standard deviation | 0.46% | 0.47% |
| Sharpe ratio | 2.73 | 1.98 |
| Sortino ratio | 5.60 | 3.81 |
| Maximum drawdown | −0.71% (24-03-2020) | −0.77% (24-03-2020) |
From daily NAVs, 23-01-2019 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.
Tata 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 | |
|---|---|---|---|---|---|---|
| Tata Ultra Short Term Fund (Direct) | −0.71% | 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 23-01-2019, 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.
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 | |
| 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 |
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.
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 | 0.26% | 0.02% | 0.00% | 0.05% | 0.33% | 0.30% | 17/26 |
| Regular | 1.00% | 0.02% | 0.00% | 0.09% | 1.11% | 0.81% | 22/26 |
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 | 5.93% | 6.84% | 0.91% | ₹1,05,930 | ₹1,06,840 |
| 3 years | 6.55% | 7.44% | 0.89% a year | ₹1,20,965 | ₹1,24,022 |
| 5 years | 5.94% | 6.82% | 0.88% a year | ₹1,33,444 | ₹1,39,079 |
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.
What a one-time or monthly investment in this fund would be worth today, from its own NAV history
Growth of an investment
₹10,000 on the first trading day of every month, from 23-01-2019 to 30-10-2026: 94 instalments, ₹9,40,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Direct planTata Ultra Short Term Fund (Direct) | ₹9,40,000 | ₹12,27,341 | ₹2,87,341 | 6.7% |
| Regular planTata Ultra Short Term Fund (Regular) | ₹9,40,000 | ₹11,85,367 | ₹2,45,367 | 5.8% |
| Category averageCategory average, 26 Ultra Short funds | ₹9,40,000 | ₹12,03,885 | ₹2,63,885 | 6.2% |
Direct planTata Ultra Short Term Fund (Direct)
Regular planTata Ultra Short Term Fund (Regular)
Category averageCategory average, 26 Ultra Short funds
Amount 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.
Asset allocation as on 30-09-2026
96.5%Debt
| Asset | Fund | Category |
|---|---|---|
| Debt | 96.5% | 96.7% |
| Cash and others | 3.5% | 3.8% |
Bonds and money market papers by credit rating, % of the fund. Category: the average of 26 Ultra Short funds.
| Rating | Fund | Category |
|---|---|---|
| Sovereign | 5.1% | 7.3% |
| AAA and A1+ | 69.9% | 77.2% |
| AA | 21.5% | 12.2% |
As on 30-09-2026 · 47 holdings · from the fund house's monthly portfolio
| Holdings | Rating | Weight% |
|---|---|---|
| ** - HDFC BANK LTD - CD - 15/01/2027 · Certificate of deposit | CRISIL-A1+ | 9.98% |
| ** TREASURY BILL 91 DAYS (05/11/2026) · Government security | SOV | 5.06% |
| ** - CANARA BANK - CD - 04/03/2027 · Certificate of deposit | CRISIL-A1+ | 4.95% |
| ** 07.80 % NABARD - 15/03/2027 · Bond | CRISIL-AAA | 4.63% |
| ** - YES BANK LTD - CD - 05/03/2027 · Certificate of deposit | CRISIL-A1+ | 4.49% |
| ** - UJJIVAN SMALL FINANCE BANK LTD - CD - 18/03/2027 · Certificate of deposit | CRISIL-A1+ | 4.02% |
| ** - SMALL INDUST DEVLOP BANK OF INDIA - CD - 11/06/2027 · Certificate of deposit | CRISIL-A1+ | 3.96% |
| ** - EQUITAS SMALL FINANCE BANK LTD - CD - 11/03/2027 · Certificate of deposit | CRISIL-A1+ | 3.57% |
| ** - CANARA BANK - CD - 28/01/2027 · Certificate of deposit | CRISIL-A1+ | 3.17% |
| ** 08.00 % ADANI POWER LTD - 27/01/2028 · Bond | CRISIL-AA | 2.76% |
| ** - GIC HOUSING FINANCE LTD - CP - 28/01/2027 · Commercial paper | CRISIL-A1+ | 2.71% |
| ** 07.95 % REC LTD - 12/03/2027 · Bond | CRISIL-AAA | 2.69% |
| ** - IIFL FINANCE LTD - CP - 26/02/2027 · Commercial paper | CRISIL-A1+ | 2.68% |
| ** 07.71 % REC LTD - 26/02/2027 · Bond | CRISIL-AAA | 2.32% |
| ** - PUNJAB NATIONAL BANK - CD - 05/02/2027 · Certificate of deposit | CRISIL-A1+ | 2.26% |
| ** - FEDERAL BANK LTD - CD - 09/06/2027 · Certificate of deposit | CRISIL-A1+ | 2.20% |
| ** 08.83 % LIQUID GOLD SERIES 18 - 20/11/2027 | CRISIL-AAA(SO) | 2.18% |
| ** 08.05 % MUTHOOT FINANCE LTD - 25/11/2027 · Bond | CRISIL-AA+ | 1.93% |
| ** 360 ONE PRIME LTD - 25/07/2028 - FRB · Bond | CRISIL-AA | 1.86% |
| ** 09.15 % PIRAMAL FINANCE LTD - 17/06/2027 · Bond | CRISIL-AA+ | 1.86% |
| ** 07.83 % INDIAN RAILWAYS FINANCE CORPORATION LTD - 19/03/2027 · Bond | CRISIL-AAA | 1.86% |
| ** 09.25 % INDOSTAR CAPITAL FINANCE LTD - 23/11/2027 · Bond | CRISIL-AA- | 1.85% |
| ** 08.45 % ADANI AIRPORT HOLDINGS LTD . - 12/02/2029 · Bond | CRISIL-AA- | 1.83% |
| ** - FEDERAL BANK LTD - CD - 04/03/2027 · Certificate of deposit | CRISIL-A1+ | 1.80% |
| ** - MUTHOOT FINCORP - CP - 21/01/2027 · Commercial paper | CRISIL-A1+ | 1.80% |
| ** - MUTHOOT FINCORP - CP - 04/02/2027 · Commercial paper | CRISIL-A1+ | 1.80% |
| ** 08.30 % GODREJ PROPERTIES LTD - 19/03/2027 · Bond | ICRA-AA+ | 1.67% |
| ** 08.24 % CREDILA FINANCIAL SERVICES LTD - 15/06/2027 · Bond | ICRA-AA | 1.38% |
| ** 08.80 % 360 ONE PRIME LTD - 18/05/2028 · Bond | CRISIL-AA | 1.38% |
| ** 08.60 % MUTHOOT FINANCE LTD - 02/03/2028 · Bond | CRISIL-AA+ | 1.11% |
| ** 08.15 % GIC HOUSING FINANCE LTD - 28/01/2028 · Bond | CRISIL-AA+ | 1.03% |
| ** 07.44 % POWER FINANCE CORPORATION - 11/06/2027 · Bond | CRISIL-AAA | 0.92% |
| ** 07.59 % REC LTD - 31/05/2027 · Bond | CRISIL-AAA | 0.92% |
| ** - SMALL INDUST DEVLOP BANK OF INDIA - CD - 14/01/2027 · Certificate of deposit | CRISIL-A1+ | 0.91% |
| ** - UNION BANK OF INDIA - CD - 02/03/2027 · Certificate of deposit | ICRA-A1+ | 0.90% |
| ** - BAJAJ HOUSING FINANCE LTD - CP - 12/03/2027 · Commercial paper | CRISIL-A1+ | 0.90% |
| ** - PUNJAB NATIONAL BANK - CD - 09/03/2027 · Certificate of deposit | CRISIL-A1+ | 0.90% |
| ** 09.25 % INDOSTAR CAPITAL FINANCE LTD - 24/01/2028 · Bond | CRISIL-AA- | 0.83% |
| ** 08.65 % MUTHOOT FINANCE LTD - 31/01/2028 · Bond | CRISIL-AA+ | 0.74% |
| ** 09.12 % PIRAMAL FINANCE LTD - 06/08/2027 · Bond | CRISIL-AA+ | 0.65% |
| ** 08.90 % MUTHOOT FINANCE LTD - 07/10/2027 · Bond | CRISIL-AA+ | 0.46% |
| ** 07.84 % LIC HOUSING FINANCE LTD - 11/05/2027 · Bond | CRISIL-AAA | 0.46% |
| ** - YES BANK LTD - CD - 11/02/2027 · Certificate of deposit | CRISIL-A1+ | 0.45% |
| ** - EXIM - CD - 01/03/2027 · Certificate of deposit | CRISIL-A1+ | 0.45% |
| SBIMF AIF - CAT I (CDMDF)27/10/2038 | 0.28% | |
| ** 08.75 % PIRAMAL FINANCE LTD - 29/10/2027 · Bond | CRISIL-AA+ | 0.09% |
| ** 08.20 % ADANI POWER LTD - 25/01/2029 · Bond | CRISIL-AA | 0.09% |
Funds with the most similar portfolios, across every fund house and category
| Fund | Overlap | Holdings in common | |
|---|---|---|---|
| Tata Ultra Short to Short Term FundLow Duration · Tata | 16.7% | 8 | Compare |
| Invesco India Ultra Short Term FundUltra Short · Invesco | 16.5% | 7 | Compare |
| HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index FundIndex · HDFC | 16.5% | 6 | Compare |
| SBI Banking & PSU Debt FundBanking & PSU · SBI | 16.4% | 8 | Compare |
| SBI Ultra Short Term FundUltra Short · SBI | 16.2% | 5 | Compare |
| DSP Ultra Short Term FundUltra Short · DSP | 15.3% | 10 | Compare |
| Axis Ultra Short Term fundUltra Short · Axis | 13.6% | 10 | Compare |
| Mahindra Manulife Ultra Short Term FundUltra Short · Mahindra Manulife | 13.2% | 9 | 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.
Fund facts from the scheme summary document, as on 16-10-2026
Rules in force from 23-07-2024 (Finance Act 2024). Tax depends on your own income; this is general information, not tax advice.
| Plan | Option | NAV | As on |
|---|---|---|---|
| direct | Monthly Reinvestment Income Distribution Cum Capital Withdrawal | ₹16.2913 | 30-10-2026 |
| direct | Weekly Reinvestment Income Distribution Cum Capital Withdrawal | ₹10.4085 | 30-10-2026 |
| direct | Monthly Payout Income Distribution Cum Capital Withdrawal | ₹16.2913 | 30-10-2026 |
| direct | Weekly Payout Income Distribution Cum Capital Withdrawal | ₹10.4085 | 30-10-2026 |
| direct | Growth | ₹16.268 | 30-10-2026 |
| regular | Monthly Reinvestment Income Distribution Cum Capital Withdrawal | ₹15.3112 | 30-10-2026 |
| regular | Weekly Reinvestment Income Distribution Cum Capital Withdrawal | ₹10.3813 | 30-10-2026 |
| regular | Monthly Reinvestment Income Distribution Cum Capital Withdrawal | ₹15.3112 | 30-10-2026 |
| regular | Weekly Payout Income Distribution Cum Capital Withdrawal | ₹10.3813 | 30-10-2026 |
| regular | Growth | ₹15.3043 | 30-10-2026 |
Tata Ultra Short Term Fund is a mutual fund from Tata Mutual Fund. Its category is Ultra Short. It was launched on 22-01-2019. Its benchmark is CRISIL Ultra Short Duration Debt A-I Index. At the end of September 2026 it held 47 securities.
Dhawal Joshi
Fund manager of Tata Ultra Short Term Fund, since 15-10-2025
Amit Somani
Fund manager of Tata Ultra Short Term Fund, since 15-10-2025
See all funds of Tata Mutual Fund
AUM moves with money invested or taken out, and with the value of what the fund holds.
Returns, risk, costs and the stocks they share, side by side
The Direct plan NAV is ₹16.268. The Regular plan NAV is ₹15.3043, as on 30-10-2026.
The Direct plan returned +6.84% in 1 year, +7.44% a year over 3 years, +6.82% a year over 5 years. The Regular plan returned +5.93% in 1 year, +6.55% a year over 3 years, +5.94% a year over 5 years. These figures are as on 30-10-2026.
The Direct plan charges 0.33% a year. The Regular plan charges 1.11% a year. This is the figure the fund house reported to AMFI, in force from 01-09-2026.
Tata Ultra Short Term Fund managed ₹5,404.36 Cr on 30-09-2026, as its fund house reported in its monthly portfolio.
At the end of September 2026 the largest holdings were ** - HDFC BANK LTD - CD - 15/01/2027 (9.98%), ** TREASURY BILL 91 DAYS (05/11/2026) (5.06%), ** - CANARA BANK - CD - 04/03/2027 (4.95%), ** 07.80 % NABARD - 15/03/2027 (4.63%), ** - YES BANK LTD - CD - 05/03/2027 (4.49%). The fund held 47 securities in all.
Through Tata 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.
Dhawal Joshi (since 15-10-2025), Amit Somani (since 15-10-2025).
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.
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