DSP Ultra Short Term Fund
This is the Regular plan of DSP Ultra Short Term Fund — bought through a distributor, whose commission is paid out of its expense ratio. Income is distributed daily and reinvested in more units, which is why this NAV sits below the growth plan of the same fund.
This is the IDCW (dividend) option — it pays its earnings out as dividends rather than reinvesting them, so every payout steps the NAV down and the return figures below leave those payouts out. Your actual return was higher by whatever was distributed. That’s expected for a payout plan, not missing data.
View the Growth plan for compounded returns (+6.64% 3Y CAGR)NAV history
Scorecard
Not ratedHow this is computed
Each verdict is computed from this fund's own metrics against its sub-category — the number behind it is shown, not a black-box rating. Not rated — too few comparable Debt funds (same plan and option) to rank against yet.
Not enough Ultra Short Duration Fund peers to rank yet
Volatility 0.1% (no category average yet)
1.0% expense (no category average yet)
59% of rolling 3Y windows were positive
Strengths & concerns
Generated from this fund's own numbers against its sub-category — each point names the figure behind it.
Strengths
No standout strengths identified.
Concerns
- Positive in only 59% of rolling 3-year windows
Key Metrics
Scheme Info
DefinitionsPeriod returns (<1Y, absolute — not annualized)
DefinitionsAnnualized returns (≥1Y — CAGR)
DefinitionsAdvanced metrics — risk
Fund vs category average (Ultra Short Duration Fund)
| Period | Fund | Category avg. | Diff |
|---|---|---|---|
| 1M abs | 0.00% | — | — |
| 3M abs | 0.00% | — | — |
| 6M abs | 0.00% | — | — |
| 1Y CAGR | 0.00% | — | — |
| 3Y CAGR | 0.00% | — | — |
| 5Y CAGR | 0.00% | — | — |
Category average across peers in Ultra Short Duration Fund, same plan and option, excluding this fund. Under-1-year figures are absolute; 1Y and beyond are annualised (CAGR).
Not sure what a figure means? The glossary explains every metric, and the methodology shows the formulas.
Backtest this fund
What a SIP or one-time investment would have grown to over this fund’s real NAV history.
60 monthly installments of ₹10,000 into DSP Ultra Short Term Fund, valued at the latest NAV. XIRR annualizes for each installment’s timing.
Calendar-year returns
What the fund actually returned in each year, not the smoothed average.
| Year | Fund | |
|---|---|---|
| 2026part | 0.00% | |
| 2025 | 0.00% | |
| 2024 | -0.04% | |
| 2023 | +0.02% | |
| 2022 | +0.02% | |
| 2021 | 0.00% | |
| 2020 | +0.13% | |
| 2019 | +0.79% | |
| 2018 | -0.78% | |
| 2017 | 0.00% |
January–December, from this fund's NAV history. Absolute return, not annualised. “part” marks a year the fund didn't run end to end — its first year, the current year so far, or one it stopped reporting in.
Taxation
Taxed as debtThis is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — every rupee of gain is added to your income and taxed at your income-tax slab rate, whatever the holding period.
Your income-tax slab — no LTCG or indexation benefit
Pick your slab to see the rate that applies to you.
Applies to capital gains on redemption. Excludes IDCW/dividend tax, STT, surcharge and cess, and pre-2018 equity grandfathering. For research only — consult a tax advisor before filing.
Asset allocation
As on 31 Aug 2026 · AMC disclosure- Debt98.25%
- Cash & Equivalents1.75%
Cash & cash-like: 3.75% — the 1.75% above plus treasury bills, certificates of deposit, commercial paper and TREPS, which the allocation files under Debt but the market counts as cash-equivalent.
AMC Profile
DSP Mutual Fund is run by DSP Asset Managers, part of the DSP Group, a Mumbai financial firm whose broking lineage runs back to 1860. The house operated as a joint venture with BlackRock — and Merrill Lynch before it — until the DSP family bought out the foreign stake in 2018.
Fund Managers
SVShalini VasantaManaging since 01 Jan 2025
MBA (Finance); BA (Economics & Statistics Hons)
Over 12 years of Experience: From April 01, 2023 onwards: AVP, Fixed Income Investments - DSP Asset & Managers Private Limited From Jan 2017 to March 31, 2023 -AVP, Fixed Income Investments - DSP Investment Managers Private Limited From March 2012 – December 2016: Senior Credit Analyst - ICRA Limited
KMKaran MundhraManaging since 01 May 2021
BCOM. Charted Accountant (CA)
Over 16 years of experience as under: From April 01, 2023 onwards- Fund manager- DSPAM From May 1, 2021 to March 31, 2023- Fund manager- DSPIM From July 2016 to April 30, 2021- Dealer, Fixed Income – DSPIM. From February 2016 to July 2016 – Manager – Fixed Income - DSPIM From April 2012 to January 2016 – Manager - Fund Accounting – DSPIM
Fund managers from the AMC's filed Scheme Summary — its most recent filing for this scheme. Each manager's qualifications and role are reconciled across every filing this fund house makes for them, including its Statement of Additional Information. Total AUM via AMFI.
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Returns and risk are computed from NAV history and may differ slightly from other portals due to methodology (rolling vs point-to-point, dividend treatment). For research only — not investment advice.
About Ultra Short Duration funds
Ultra short duration funds run a Macaulay duration of 3 to 6 months. That is a step out from a liquid fund — slightly more interest-rate sensitivity in exchange for slightly more yield, for money you need in months rather than days.
Frequently asked questions
What is the NAV of DSP Ultra Short Term Fund?
As of 05 Oct 2026, the NAV of DSP Ultra Short Term Fund is ₹1,005.49 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.
What returns has DSP Ultra Short Term Fund delivered?
DSP Ultra Short Term Fund has returned 0.00% over 1 year, 0.00% per year over 3 years, 0.00% per year over 5 years and +0.03% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.
What is the expense ratio of DSP Ultra Short Term Fund?
DSP Ultra Short Term Fund charges an expense ratio of 1.01% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.
What are the top holdings of DSP Ultra Short Term Fund?
DSP Ultra Short Term Fund's largest holdings are Canara Bank (4.7%), 5.74% GOI 15112026 (2.8%), Kotak Mahindra Bank Limited (2.7%), LIC Housing Finance Limited (2.3%) and National Bank For Agriculture & Rural Development (2.1%). Holdings are disclosed monthly and change over time.
How risky is DSP Ultra Short Term Fund?
DSP Ultra Short Term Fund is rated low on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 0.1% and its worst peak-to-trough fall in our sample was -1.1%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.
What is the benchmark of DSP Ultra Short Term Fund?
DSP Ultra Short Term Fund is benchmarked against the CRISIL Ultra Short Duration Debt A-I Index. Its alpha and beta on this page are measured against that index.
Who manages DSP Ultra Short Term Fund?
DSP Ultra Short Term Fund is managed by Shalini Vasanta and Karan Mundhra at DSP.
How is DSP Ultra Short Term Fund taxed?
DSP Ultra Short Term Fund is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — capital gains are added to your income and taxed at your income-tax slab rate regardless of how long you held the units.