DebtLow Duration FundRegularGrowthLow to Moderate

SBI Ultra Short to Short Term Fund

Q: What is the NAV of SBI Ultra Short to Short Term Fund?

As of 01 Oct 2026, the NAV of SBI Ultra Short to Short Term Fund is ₹3,743.00 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has SBI Ultra Short to Short Term Fund delivered?

SBI Ultra Short to Short Term Fund has returned +5.42% over 1 year, +6.66% per year over 3 years, +5.97% per year over 5 years and +7.13% 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.

Q: What is the expense ratio of SBI Ultra Short to Short Term Fund?

SBI Ultra Short to Short Term Fund charges an expense ratio of 0.92% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

Q: What are the top holdings of SBI Ultra Short to Short Term Fund?

SBI Ultra Short to Short Term Fund's largest holdings are 182 DAY T-BILL 10.09.26 (6.0%), HDFC Bank Ltd. (5.4%), Radhakrishna Securitisation Trust (Obligor - Digital Fibre Infrastructure Trust) (4.4%), Bharti Telecom Ltd. (4.3%) and Indian Bank (4.2%). Holdings are disclosed monthly and change over time.

Q: How risky is SBI Ultra Short to Short Term Fund?

SBI Ultra Short to Short Term Fund is rated low to moderate on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 0.5% and its worst peak-to-trough fall in our sample was -1.3%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Q: Who manages SBI Ultra Short to Short Term Fund?

SBI Ultra Short to Short Term Fund is managed by Sudhir Agrawal at SBI.

Q: How is SBI Ultra Short to Short Term Fund taxed?

SBI Ultra Short to 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.

SBI Mutual Fund · Best Low Duration Mutual Funds

NAV

₹3,743.00

+0.03% 1D

as of 01 Oct 2026

This is the Regular plan of SBI Ultra Short to Short Term Fund — bought through a distributor, whose commission is paid out of its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.

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NAV history

+5.43%CAGR

52-week rangePrev NAV ₹3,741.74

Latest ₹3,743.00

Low ₹3,550.65100th percentile of its 52-week rangeHigh ₹3,743.00

Scorecard

★★★☆☆3/5 vs 23 of 26 Low Duration Fund peers

Performance 60%
Risk 15%
Cost 10%
Downside 15%

How 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. The stars weight the same ground 60/15/10/15 (performance/risk/cost/downside) across every fund in the peer group. Ranked within Low Duration Fund (same plan and option). 23 of the 26 Low Duration Funds in this cohort carry the full record the stars need, so they are the ones ranked against.

PerformanceBelow avg

3Y CAGR +6.66% · ranks 17 of 22 Low Duration Funds

RiskModerate

Volatility 0.5% vs 0.5% category avg

CostHigh

0.9% expense vs 0.8% category avg

ConsistencyHigh

100% 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

Consistent — positive in 100% of rolling 3-year windows

Concerns

Ranks #22 of 25 on 1-year return in its Low Duration Fund cohort
High expense ratio (0.92%) vs the Low Duration Fund average of 0.83%

Key Metrics

Annual fee charged by the fund, already deducted from NAV

0.92%

Category 0.83%▲0.09%

Portfolio-weighted harmonic mean P/E across the fund's equity holdings

—

Category —

Excess return per unit of total volatility (rf = 6.5%)

—

Category 0.45

Scheme Info

Definitions

Plan

Regular · Growth

Period before units can be redeemed — 3 years for ELSS, none for most open-ended funds

None

Exit Load

None

Statutory levy on every mutual-fund purchase since 1 Jul 2020 (SEBI / Govt of India) — the same for every scheme

0.005%

SIP Inv.

—

Smallest recurring SIP instalment the scheme accepts

—

Smallest one-time (lumpsum) investment the scheme accepts

—

Benchmark

—

Start of our NAV history for this plan. Direct plans begin 1 Jan 2013, so this is the plan's inception — not necessarily the scheme's original launch date.

02 Aug 2007

Period returns (<1Y, absolute — not annualized)

Definitions

Absolute return over the last 1 month (not annualized)

+0.41%

Absolute return over the last 3 months (not annualized)

+1.19%

Absolute return over the last 6 months (not annualized)

+3.03%

Absolute return since 1 Jan of this year (not annualized)

+4.05%

Annualized returns (≥1Y — CAGR)

Definitions

1-year point-to-point return, annualized (CAGR)

+5.42%

3-year annualized return (CAGR)

+6.66%

5-year annualized return (CAGR)

+5.97%

10-year annualized return (CAGR)

+6.32%

Annualized return (CAGR) since the first NAV we hold for this plan — the Inception date under Key metrics. AMFI's history starts in April 2006, so an older scheme is measured from there.

+7.13%

Advanced metrics — risk

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

0.47%

Excess return per unit of total volatility (rf = 6.5%)

—

Excess return per unit of downside deviation — upside swings aren't penalized (rf = 6.5%)

—

Largest peak-to-trough decline over full history

-1.31%

Benchmark ratios

Not shown for Low Duration Fund — a debt, arbitrage or cash-like fund isn't measured against an equity index, so alpha/beta vs one would be noise rather than signal.

Fund vs category average (Low Duration Fund)

Period	Fund	Category avg.	Diff
1M abs	+0.41%	+0.39%	+0.02%
3M abs	+1.19%	+1.21%	-0.02%
6M abs	+3.03%	+3.16%	-0.13%
1Y CAGR	+5.42%	+5.68%	-0.26%
3Y CAGR	+6.66%	+6.82%	-0.16%
5Y CAGR	+5.97%	+6.11%	-0.14%

Category average across peers in Low Duration Fund (up to 26 funds with data), 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.

Category rank

Vs 26 peers in Low Duration Fund

1Y return

+5.42%

Beats 12.5% · rank #22

3Y return

+6.66%

Beats 23.8% · rank #17

5Y return

+5.97%

Beats 22.2% · rank #15

Sharpe

—

Sortino

—

Backtest this fund

What a SIP or one-time investment would have grown to over this fund’s real NAV history.

Monthly investment (₹)

Period

Invested

₹6.00L

Current value

₹7.02L

Absolute

+17.00%

XIRR

+6.42%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into SBI Ultra Short to 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	+4.05%
2025	+7.04%
2024	+7.28%
2023	+6.75%
2022	+4.03%
2021	+3.20%
2020	+6.72%
2019	+8.28%
2018	+7.50%
2017	+6.62%

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.

History points

4,643

Expense ratio

0.92%

YTM (from holdings)

7.16%

Average maturity

1.09 years

Exit load

Nil

Taxation

Taxed as debt

This 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.

Any holding period

30%

Short- and long-term alike

Your income-tax slab — no LTCG or indexation benefit

Your income-tax slab

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.

Peer comparison · Low Duration Fund

Compare all


SBI Ultra Short to Short Term FundThis fund SBI · Regular · Growth	★★★☆☆	+5.42%	+6.66%	+5.97%	—	0.92%	—
HSBC Ultra Short to Short Term Fund HSBC · Regular · Growth	★★★★☆	+5.83%	+7.33%	—	—	0.96%	—
ICICI Prudential Ultra Short to Short Term Fund ICICI Prudential · Regular · Growth	★★★★★	+6.16%	+7.26%	+6.53%	—	0.53%	—
UTI Ultra Short to Short Term Fund UTI · Regular · Growth	★★★★☆	+6.04%	+7.13%	+6.47%	—	0.65%	—
Axis Ultra Short to Short Term Fund Axis · Regular · Growth	—	+5.92%	+7.06%	+6.34%	—	0.73%	—
Axis Ultra Short to Short Term Fund Axis · Regular · Growth	★★★★★	+5.92%	+7.06%	+6.34%	—	0.73%	—

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Debt91.09%
Cash & Equivalents8.51%
Other0.40%

Cash & cash-like: 10.70% — the 8.51% above plus treasury bills, certificates of deposit, commercial paper and TREPS, which the allocation files under Debt but the market counts as cash-equivalent.

which companies this fund invests in

As on 31 Aug 2026 · AMC disclosure

HDFC Bank Ltd.

5.41%

Radhakrishna Securitisation Trust (Obligor - Digital Fibre Infrastructure Trust)

4.38%

Bharti Telecom Ltd.

4.27%

Indian Bank

4.18%

Canara Bank

4.18%

Kotak Mahindra Bank Ltd.

4.16%

ICICI Bank Ltd.

4.15%

LIC Housing Finance Ltd.

3.34%

Bajaj Finance Ltd.

3.14%

Small Industries Development Bank of India

2.92%

AMC Profile

SBI Mutual Fund is a joint venture between the State Bank of India and Amundi of France, and was set up in 1987 as the first fund house in India outside UTI. It is the largest by assets, helped by managing a share of the EPFO's ETF investments.

Launched

28 Jun 1987

Total AUM

₹12,57,352Cr+0.7% QoQ

Avg AUM · April - June 2026

Website

sbimf.com

Fund Managers

SASudhir AgrawalStart date not disclosed

Role

Fund Manager

Education

M.Com., PGDBA, CFA

Experience

Mr. Sudhir Agrawal joined SBIFML on May 05, 2025. He has an overall 19 years of experience in the area of financial services. Prior to joining SBIFML, he was associated with following entities wherein he was primarily involved in Fund Management / Financial analysis: • UTI Asset Management Company Limited - (July 2009 to April 2025) • Tata Asset Management Company Limited - (November 2007 to June 2009) • Transparent Value LLC - (January 2006 to October 2007) • CARE Limited - (May 2005 to December 2005) He is also managing SBI Magnum Low Duration Fund, SBI Dynamic Bond Fund, SBI Magnum Gilt Fund, SBI Magnum Ultra Short Duration Fund and

Funds managed (4)

All schemes Sudhir Agrawal runs →

Fund manager, benchmark and dealing terms from this scheme's SEBI-filed Scheme Information Document on AMFI. 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.

Explore from here

Fund managers

Sudhir Agrawal

SBI in the news

Headlines about the fund house, not this scheme in particular — highlights only; tap through to read the full story at the source.

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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 Low Duration funds

Low duration funds run a Macaulay duration of 6 to 12 months. They sit between ultra short and short duration funds, aimed at money with a horizon of about a year.

Frequently asked questions

What is the NAV of SBI Ultra Short to Short Term Fund?

As of 01 Oct 2026, the NAV of SBI Ultra Short to Short Term Fund is ₹3,743.00 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has SBI Ultra Short to Short Term Fund delivered?

SBI Ultra Short to Short Term Fund has returned +5.42% over 1 year, +6.66% per year over 3 years, +5.97% per year over 5 years and +7.13% 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 SBI Ultra Short to Short Term Fund?

SBI Ultra Short to Short Term Fund charges an expense ratio of 0.92% 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 SBI Ultra Short to Short Term Fund?

SBI Ultra Short to Short Term Fund's largest holdings are 182 DAY T-BILL 10.09.26 (6.0%), HDFC Bank Ltd. (5.4%), Radhakrishna Securitisation Trust (Obligor - Digital Fibre Infrastructure Trust) (4.4%), Bharti Telecom Ltd. (4.3%) and Indian Bank (4.2%). Holdings are disclosed monthly and change over time.

How risky is SBI Ultra Short to Short Term Fund?

SBI Ultra Short to Short Term Fund is rated low to moderate on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 0.5% and its worst peak-to-trough fall in our sample was -1.3%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Who manages SBI Ultra Short to Short Term Fund?

SBI Ultra Short to Short Term Fund is managed by Sudhir Agrawal at SBI.

How is SBI Ultra Short to Short Term Fund taxed?

SBI Ultra Short to 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.