DebtLow Duration FundDirectIDCWLow to Moderate

Axis Ultra Short to Short Term Fund

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

As of 05 Oct 2026, the NAV of Axis Ultra Short to Short Term Fund is ₹1,011.77 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

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

Axis Ultra Short to Short Term Fund has returned 0.00% over 1 year, +0.01% per year over 3 years, +0.03% per year over 5 years and +0.06% 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 Axis Ultra Short to Short Term Fund?

Axis Ultra Short to Short Term Fund charges an expense ratio of 0.37% 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 Axis Ultra Short to Short Term Fund?

Axis Ultra Short to Short Term Fund's largest holdings are 7.62% National Bank For Agriculture and Rural Development (31/01/2028) (4.4%), 6.64% Tamilnadu State Development Loans (11/03/2029) (4.0%), 4.04% Government of India (04/10/2028) (3.9%), 7.44% National Bank For Agriculture and Rural Development (24/02/2028) (3.8%) and Small Industries Dev Bank of India (18/02/2027) (3.2%). Holdings are disclosed monthly and change over time.

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

Axis Ultra Short to Short Term Fund is rated low to moderate on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 2.2% and its worst peak-to-trough fall in our sample was -2.1%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Q: What does the Sharpe ratio of -2.98 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Axis Ultra Short to Short Term Fund's -2.98 means it has not compensated investors for its volatility over the window. Higher is better.

Q: What is the benchmark of Axis Ultra Short to Short Term Fund?

Axis Ultra Short to Short Term Fund is benchmarked against the NIFTY Low Duration Debt Index A-I. Its alpha and beta on this page are measured against that index.

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

Axis Ultra Short to Short Term Fund is managed by Devang Shah and Aditya Pagaria at Axis.

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

Axis 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.

Axis Mutual Fund · Best Low Duration Mutual Funds

NAV

₹1,011.77

+0.09% 1D

as of 05 Oct 2026

This is the Direct plan of Axis Ultra Short to Short Term Fund — bought from the fund house, with no distributor commission in its expense ratio. Income is distributed monthly, 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 (+7.42% 3Y CAGR)

NAV history

-0.07%absolute

52-week rangePrev NAV ₹1,010.84

Latest ₹1,011.77

Low ₹1,008.9726th percentile of its 52-week rangeHigh ₹1,019.88

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 Low Duration Fund peers to rank yet

Risk—

Volatility 2.2% (no category average yet)

Cost—

0.4% expense (no category average yet)

ConsistencyModerate

89% of rolling 3Y windows were positive

Key Metrics

Annual fee charged by the fund, already deducted from NAV

0.37%

Category —

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

—

Category —

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

-2.98

Category —

Scheme Info

Definitions

Plan

Direct · IDCW

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.

Allowed

Smallest recurring SIP instalment the scheme accepts

₹100

Smallest one-time (lumpsum) investment the scheme accepts

₹100

NIFTY Low Duration Debt Index A-I

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.

07 Jan 2013

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

Definitions

Absolute return over the last 1 month (not annualized)

-0.11%

Absolute return over the last 3 months (not annualized)

-0.12%

Absolute return over the last 6 months (not annualized)

+0.07%

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

+0.13%

Annualized returns (≥1Y — CAGR)

Definitions

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

0.00%

3-year annualized return (CAGR)

+0.01%

5-year annualized return (CAGR)

+0.03%

10-year annualized return (CAGR)

+0.06%

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.

+0.06%

Advanced metrics — risk

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

2.18%

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

-2.98

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

-2.98

Largest peak-to-trough decline over full history

-2.12%

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	-0.11%	—	—
3M abs	-0.12%	—	—
6M abs	+0.07%	—	—
1Y CAGR	0.00%	—	—
3Y CAGR	+0.01%	—	—
5Y CAGR	+0.03%	—	—

Category average across peers in Low 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.

Monthly investment (₹)

Period

Invested

₹6.00L

Current value

₹6.00L

Absolute

+0.03%

XIRR

+0.01%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into Axis 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	+0.13%
2025	-0.04%
2024	+0.04%
2023	-0.02%
2022	+0.05%
2021	0.00%
2020	+0.40%
2019	-0.07%
2018	+0.06%
2017	+0.01%

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

3,325

Expense ratio

0.37%

YTM (from holdings)

7.50%

Average maturity

1.00 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


Axis Ultra Short to Short Term FundThis fund Axis · Direct · Monthly IDCW	—	0.00%	+0.01%	+0.03%	—	0.37%	—
Nippon India Ultra Short to Short Term Fund Nippon India · Direct · IDCW	—	+6.33%	+7.43%	+6.12%	—	0.39%	₹7,766Cr
LIC MF Ultra Short to Short Term fund LIC · Direct · Monthly IDCW	—	+6.35%	+7.33%	+6.55%	—	0.24%	₹1,801Cr
LIC MF Ultra Short to Short Term fund LIC · Direct · Weekly IDCW	—	+6.35%	+7.33%	+6.55%	—	0.24%	₹1,801Cr
Tata Ultra Short to Short Term Fund Tata · Direct · Periodic IDCW	—	+6.36%	+7.31%	+6.54%	—	—	—
UTI Ultra Short to Short Term Fund UTI · Direct · Flexi IDCW	—	+6.13%	+7.24%	+6.09%	—	—	₹65.58L

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Debt95.60%
Cash & Equivalents4.01%
Other0.39%

which companies this fund invests in

As on 31 Aug 2026 · AMC disclosure

Small Industries Dev Bank of India (18/02/2027)

3.19%

Bajaj Financial Securities Limited (10/12/2026)

2.15%

Bank of Baroda (04/02/2027)

2.13%

Bank of Baroda (05/02/2027)

2.13%

AU Small Finance Bank Limited (09/03/2027)

2.12%

Small Industries Dev Bank of India (20/08/2027)

2.05%

JTPM Metal Traders Limited (29/09/2028) (ZCB)

2.01%

Cholamandalam Investment and Finance Company Ltd (27/02/2029) (FRN)

1.64%

Punjab & Sind Bank (24/02/2027)

1.59%

HDFC Bank Limited (05/03/2027)

1.59%

AMC Profile

Axis Mutual Fund is run by Axis Asset Management, majority-owned by Axis Bank with the UK's Schroders holding the minority stake. It launched its first scheme in 2009 and grew quickly on a growth-oriented, quality-biased equity style.

Launched

03 Sep 2009

Total AUM

₹3,82,966Cr+3.8% QoQ

Avg AUM · July - September 2026

Website

axismf.com

Fund Managers

DSDevang ShahManaging since 07 Jun 2016

APAditya PagariaManaging since 13 Aug 2016

Role

Fund Manager - Fixed Income

Education

Bachelor in Management Studies, Post Graduate Diploma in Business Management

Experience

Total number years of experience: 18 years, his last 10 are as follows: • Axis Asset Management Company (Fund Manager 12 Fixed Income) (August 1, 2016 till date) • ICICI Prudential Asset Management Company (Fund Manager Fixed Income) (Nov. 30, 2011 - July 26, 2016) • (Operations)- (May 03, 2007 - Nov. 29, 2011)

Funds managed (18)

All schemes Aditya Pagaria 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

Devang Shah Aditya Pagaria

Axis 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 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 Axis Ultra Short to Short Term Fund?

As of 05 Oct 2026, the NAV of Axis Ultra Short to Short Term Fund is ₹1,011.77 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

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

Axis Ultra Short to Short Term Fund has returned 0.00% over 1 year, +0.01% per year over 3 years, +0.03% per year over 5 years and +0.06% 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 Axis Ultra Short to Short Term Fund?

Axis Ultra Short to Short Term Fund charges an expense ratio of 0.37% 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 Axis Ultra Short to Short Term Fund?

Axis Ultra Short to Short Term Fund's largest holdings are 7.62% National Bank For Agriculture and Rural Development (31/01/2028) (4.4%), 6.64% Tamilnadu State Development Loans (11/03/2029) (4.0%), 4.04% Government of India (04/10/2028) (3.9%), 7.44% National Bank For Agriculture and Rural Development (24/02/2028) (3.8%) and Small Industries Dev Bank of India (18/02/2027) (3.2%). Holdings are disclosed monthly and change over time.

How risky is Axis Ultra Short to Short Term Fund?

Axis Ultra Short to Short Term Fund is rated low to moderate on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 2.2% and its worst peak-to-trough fall in our sample was -2.1%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What does the Sharpe ratio of -2.98 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Axis Ultra Short to Short Term Fund's -2.98 means it has not compensated investors for its volatility over the window. Higher is better.

What is the benchmark of Axis Ultra Short to Short Term Fund?

Axis Ultra Short to Short Term Fund is benchmarked against the NIFTY Low Duration Debt Index A-I. Its alpha and beta on this page are measured against that index.

Who manages Axis Ultra Short to Short Term Fund?

Axis Ultra Short to Short Term Fund is managed by Devang Shah and Aditya Pagaria at Axis.

How is Axis Ultra Short to Short Term Fund taxed?

Axis 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.