DebtLiquid FundDirectIDCWLow

DSP Liquid Fund

Q: What is the NAV of DSP Liquid Fund?

As of 05 Oct 2026, the NAV of DSP Liquid Fund is ₹1,001.47 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has DSP Liquid Fund delivered?

DSP Liquid Fund has returned +0.03% over 1 year, +0.02% per year over 3 years, +0.01% per year over 5 years and +0.01% 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 DSP Liquid Fund?

DSP Liquid Fund charges an expense ratio of 0.12% 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 DSP Liquid Fund?

DSP Liquid Fund's largest holdings are 91 DAYS T-BILL 03092026 (3.2%), Canara Bank (1.8%), HDFC Bank Limited (1.8%), National Bank For Agriculture & Rural Development (1.6%) and 91 DAYS T-BILL 08102026 (1.6%). Holdings are disclosed monthly and change over time.

Q: How risky is DSP Liquid Fund?

DSP Liquid 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 -0.2%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Q: What is the benchmark of DSP Liquid Fund?

DSP Liquid Fund is benchmarked against the CRISIL Liquid Debt A-I Index. Its alpha and beta on this page are measured against that index.

Q: Who manages DSP Liquid Fund?

DSP Liquid Fund is managed by Karan Mundhra, Shalini Vasanta and Kunal Khudania at DSP.

Q: How is DSP Liquid Fund taxed?

DSP Liquid 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.

DSP Mutual Fund · Best Liquid Mutual Funds

NAV

₹1,001.47

0.00% 1D

as of 05 Oct 2026

This is the Direct plan of DSP Liquid Fund — bought from the fund house, with no distributor commission in its expense ratio. Income is distributed daily, which is why this NAV sits below the growth plan of the same fund.

Compare SIP calculator

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 (+6.97% 3Y CAGR)

NAV history

+0.03%absolute

52-week rangePrev NAV ₹1,001.47

Latest ₹1,001.47

Low ₹1,001.0953rd percentile of its 52-week rangeHigh ₹1,001.80

Scorecard

Not rated

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. Not rated — too few comparable Debt funds (same plan and option) to rank against yet.

Performance—

Not enough Liquid Fund peers to rank yet

Risk—

Volatility 0.1% (no category average yet)

Cost—

0.1% expense (no category average yet)

ConsistencyLow

63% 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 63% of rolling 3-year windows

Key Metrics

Annual fee charged by the fund, already deducted from NAV

0.12%

Category —

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

—

Category —

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

—

Category —

Scheme Info

Definitions

Plan

Direct · IDCW

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

None

Day of redemption/switch from the date of applicable NAV Exit load as a % of redemption/switch proceeds Day 1 0.0070% Day 2 0.0065% Day 3 0.0060% Day 4 0.0055% Day 5 0.0050% Day 6 0.0045% Day 7 onwards 0.0000% The above exit load is applicable to instalments of existing Systematic Investment Plans (‘SIPs’)/Systematic Transfer Plans (‘STPs’) registered before October 20, 2019. Note: No exit load shall be levied In case of switch of investments from Direct Plan to Regular Plan and vice versa.

Up to 0.01%

tiered — see the full terms

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

0.005%

SIP Inv.

Allowed

Smallest recurring SIP instalment the scheme accepts

₹100

Smallest one-time (lumpsum) investment the scheme accepts

₹100

CRISIL Liquid Debt A-I Index

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.

01 Jan 2013

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

Definitions

Absolute return over the last 1 month (not annualized)

-0.01%

Absolute return over the last 3 months (not annualized)

0.00%

Absolute return over the last 6 months (not annualized)

+0.03%

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

+0.03%

Annualized returns (≥1Y — CAGR)

Definitions

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

+0.03%

3-year annualized return (CAGR)

+0.02%

5-year annualized return (CAGR)

+0.01%

10-year annualized return (CAGR)

+0.01%

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.

+0.01%

Advanced metrics — risk

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

0.12%

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

-0.21%

Benchmark ratios

Not shown for Liquid 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 (Liquid Fund)

Period	Fund	Category avg.	Diff
1M abs	-0.01%	—	—
3M abs	0.00%	—	—
6M abs	+0.03%	—	—
1Y CAGR	+0.03%	—	—
3Y CAGR	+0.02%	—	—
5Y CAGR	+0.01%	—	—

Category average across peers in Liquid 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.

Monthly investment (₹)

Period

Invested

₹6.00L

Current value

₹6.00L

Absolute

+0.04%

XIRR

+0.02%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into DSP Liquid 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	+0.03%
2025	+0.02%
2024	0.00%
2023	0.00%
2022	0.00%
2021	0.00%
2020	0.00%
2019	0.00%
2018	+0.01%
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.

History points

4,321

Expense ratio

0.12%

YTM

6.24%

Modified duration

32 days

Macaulay duration

34 days

Average maturity

36 days

Exit load

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 · Liquid Fund

Compare all


DSP Liquid FundThis fund DSP · Direct · Daily IDCW	—	+0.03%	+0.02%	+0.01%	—	0.12%	—
Canara Robeco Liquid Fund - Direct Plan - Unclaimed Redemption and Canara Robeco · Direct · IDCW	—	+6.50%	+7.00%	+6.44%	—	—	—
UTI - Liquid Fund UTI · Direct · Quarterly IDCW	—	+6.53%	+6.95%	+6.40%	—	0.15%	₹31,753Cr
UTI - Liquid Fund UTI · Direct · Annual IDCW	—	+6.53%	+6.95%	+6.40%	—	0.15%	₹31,753Cr
UTI - Liquid Fund UTI · Direct · Flexi IDCW	—	+6.53%	+6.95%	+6.40%	—	—	₹1.22Cr
UTI - Liquid Fund UTI · Direct · Half-Yearly IDCW	—	+6.53%	+6.95%	+6.40%	—	0.15%	₹31,753Cr

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Debt94.14%
Cash & Equivalents5.86%

Cash & cash-like: 10.02% — the 5.86% 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

Canara Bank

1.79%

HDFC Bank Limited

1.77%

National Bank For Agriculture & Rural Development

1.61%

Hindustan Petroleum Corporation Limited

1.43%

National Bank For Agriculture & Rural Development

1.43%

HDFC Bank Limited

1.42%

Bank of Baroda

1.42%

National Bank For Agriculture & Rural Development

1.34%

HDFC Bank Limited

1.25%

ICICI Securities Limited

1.25%

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.

Launched

15 Dec 1996

Total AUM

₹2,29,802Cr+2.0% QoQ

Avg AUM · April - June 2026

Website

dspim.com

Fund Managers

KMKaran MundhraManaging since 01 May 2021

Education

BCOM. Charted Accountant (CA)

Experience

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

Funds managed (6)

All schemes Karan Mundhra runs →

SVShalini VasantaManaging since 01 Aug 2024

Education

MBA (Finance); BA (Economics & Statistics Hons)

Experience

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

Funds managed (4)

All schemes Shalini Vasanta runs →

KKKunal KhudaniaManaging since 01 Jan 2026

Education

Chartered Accountant B.Com (Honors)

Experience

8 years of experience: From July 01, 2025 to present: Fund Manager (Fixed Income) DSP Asset Managers Private Limited From August 02, 2024 to present: Dealer (Fixed Income) – DSP Asset Managers Private Limited From April 01, 2023 to August 01, 2024: Credit Analyst – DSP Asset Managers Private Limited From August 16, 2022 to March 31, 2023: Credit Analyst – DSP Investment Managers Private Limited From March 17, 2017 to August 12, 2022 – Credit Analyst – Mirae Asset Investment Managers India Private Limited From July, 2016 to March, 2017 – Market Analyst – Futures First Info Services Private Limited

Funds managed (2)

All schemes Kunal Khudania runs →

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.

Explore from here

Fund managers

Karan Mundhra Shalini Vasanta Kunal Khudania

DSP 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.

Run SIP calculator Add to compare

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 Liquid funds

Liquid funds invest in very short-term debt (maturing within 91 days). They're used to park money for days or weeks — low risk and easy to redeem, but low return too.

Frequently asked questions

What is the NAV of DSP Liquid Fund?

As of 05 Oct 2026, the NAV of DSP Liquid Fund is ₹1,001.47 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has DSP Liquid Fund delivered?

DSP Liquid Fund has returned +0.03% over 1 year, +0.02% per year over 3 years, +0.01% per year over 5 years and +0.01% 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 Liquid Fund?

DSP Liquid Fund charges an expense ratio of 0.12% 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 Liquid Fund?

DSP Liquid Fund's largest holdings are 91 DAYS T-BILL 03092026 (3.2%), Canara Bank (1.8%), HDFC Bank Limited (1.8%), National Bank For Agriculture & Rural Development (1.6%) and 91 DAYS T-BILL 08102026 (1.6%). Holdings are disclosed monthly and change over time.

How risky is DSP Liquid Fund?

DSP Liquid 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 -0.2%. 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 Liquid Fund?

DSP Liquid Fund is benchmarked against the CRISIL Liquid Debt A-I Index. Its alpha and beta on this page are measured against that index.

Who manages DSP Liquid Fund?

DSP Liquid Fund is managed by Karan Mundhra, Shalini Vasanta and Kunal Khudania at DSP.

How is DSP Liquid Fund taxed?

DSP Liquid 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.