DebtUltra Short Duration FundDirectIDCWLow

Nippon India Ultra Short Term Fund

Q: What is the NAV of Nippon India Ultra Short Term Fund?

As of 01 Oct 2026, the NAV of Nippon India Ultra Short Term Fund is ₹1,093.42 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has Nippon India Ultra Short Term Fund delivered?

Nippon India Ultra Short Term Fund has returned +0.02% over 1 year, +0.05% per year over 3 years, +0.03% 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 Nippon India Ultra Short Term Fund?

Nippon India Ultra Short Term Fund charges an expense ratio of 0.34% 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 Nippon India Ultra Short Term Fund?

Nippon India Ultra Short Term Fund's largest holdings are 8.5% Nirma Limited (2.8%), 9.4% Vedanta Aluminium Metal Limited (2.6%), Punjab National Bank (2.3%), HDFC Bank Limited (2.3%) and 9.31% Vedanta Limited (2.1%). Holdings are disclosed monthly and change over time.

Q: How risky is Nippon India Ultra Short Term Fund?

Nippon India Ultra Short Term Fund is rated low on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 1.0% and its worst peak-to-trough fall in our sample was -5.3%. 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 -6.16 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Nippon India Ultra Short Term Fund's -6.16 means it has not compensated investors for its volatility over the window. Higher is better.

Q: What is the benchmark of Nippon India Ultra Short Term Fund?

Nippon India 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.

Q: Who manages Nippon India Ultra Short Term Fund?

Nippon India Ultra Short Term Fund is managed by Vivek Sharma at Nippon India.

Q: How is Nippon India Ultra Short Term Fund taxed?

Nippon India 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.

Nippon India Mutual Fund · Best Ultra Short Duration Mutual Funds

NAV

₹1,093.42

+0.04% 1D

as of 01 Oct 2026

This is the Direct plan of Nippon India Ultra Short Term Fund — bought from the fund house, with no distributor commission in its expense ratio. Income is distributed weekly, 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 (+7.58% 3Y CAGR)

NAV history

+0.05%CAGR

52-week rangePrev NAV ₹1,092.98

Latest ₹1,093.42

Low ₹1,091.0679th percentile of its 52-week rangeHigh ₹1,094.04

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 Ultra Short Duration Fund peers to rank yet

Risk—

Volatility 1.0% (no category average yet)

Cost—

0.3% 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

0.34%

Category —

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

—

Category —

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

-6.16

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

₹10,000

CRISIL Ultra Short Duration 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.

21 May 2018

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

Definitions

Absolute return over the last 1 month (not annualized)

+0.07%

Absolute return over the last 3 months (not annualized)

+0.04%

Absolute return over the last 6 months (not annualized)

+0.03%

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

+0.06%

Annualized returns (≥1Y — CAGR)

Definitions

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

+0.02%

3-year annualized return (CAGR)

+0.05%

5-year annualized return (CAGR)

+0.03%

10-year annualized return (CAGR)

—

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

1.05%

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

-6.16

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

-5.95

Largest peak-to-trough decline over full history

-5.32%

Benchmark ratios

Not shown for Ultra Short 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 (Ultra Short Duration Fund)

Period	Fund	Category avg.	Diff
1M abs	+0.07%	—	—
3M abs	+0.04%	—	—
6M abs	+0.03%	—	—
1Y CAGR	+0.02%	—	—
3Y CAGR	+0.05%	—	—
5Y CAGR	+0.03%	—	—

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.

Monthly investment (₹)

Period

Invested

₹6.00L

Current value

₹6.01L

Absolute

+0.10%

XIRR

+0.04%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into Nippon India 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	+0.06%
2025	-0.01%
2024	+0.11%
2023	0.00%
2022	0.00%
2021	-0.05%
2020	+2.24%
2019	-2.22%
2018part	+0.03%

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

2,027

Expense ratio

0.34%

YTM (from holdings)

7.46%

Average maturity

0.58 years

Exit load

Nil Not applicable for Segregated Portfolio

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 · Ultra Short Duration Fund

Compare all


Nippon India Ultra Short Term FundThis fund Nippon India · Direct · Weekly IDCW	—	+0.02%	+0.05%	+0.03%	—	0.34%	—
Axis Ultra Short Term Fund Axis · Direct · IDCW	—	+6.76%	+7.44%	+6.80%	—	0.36%	—
Mirae Asset Ultra Short-Term Fund Mirae Asset · Direct · IDCW	—	+6.69%	+7.41%	+6.71%	—	0.22%	—
Invesco India Ultra Short Term Fund Invesco · Direct · Annual IDCW	—	+6.73%	+7.34%	+6.65%	—	0.27%	—
Invesco India Ultra Short Term Fund Invesco · Direct · Daily IDCW	—	+6.73%	+7.34%	+6.65%	—	0.27%	—
Tata Ultra Short Term Fund Tata · Direct · Monthly IDCW	—	+7.03%	+7.33%	+6.70%	—	0.33%	₹5,343Cr

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Debt92.74%
Cash & Equivalents7.01%
Other0.25%

which companies this fund invests in

As on 31 Aug 2026 · AMC disclosure

Punjab National Bank

2.34%

HDFC Bank Limited

2.33%

Small Industries Dev Bank of India

2.01%

Small Industries Dev Bank of India

1.88%

HDFC Bank Limited

1.74%

HDFC Bank Limited

1.60%

IIFL Home Finance Limited

1.60%

Axis Bank Limited

1.58%

National Bank For Agriculture and Rural Development

1.56%

Axis Bank Limited

1.56%

Worst falls, and the wait to get back

How far this fund has dropped from a high, and how long it took to reclaim it.

-5.3%14 Mar 2019 → 25 Sep 2019
Fell over 6 months, back to the old high on 02 Jul 2020 — 9 months under water after the low.

Measured on this fund’s own NAV history, peak to trough to the day it regained the peak. Falls shallower than 5% are left out. A recovery date is when the NAV got back, not when any particular investor did — that depends on when they bought.

AMC Profile

Nippon India Mutual Fund is managed by Nippon Life India Asset Management, which took control of the former Reliance Mutual Fund in 2019 when Nippon Life of Japan bought out the Reliance Capital stake. It is among India's largest fund houses by assets and is best known for its small- and mid-cap franchise.

Launched

29 Jun 1995

Total AUM

₹7,87,053Cr+4.7% QoQ

Avg AUM · July - September 2026

Website

mf.nipponindiaim.com

Fund Managers

VSVivek SharmaManaging since 01 Oct 2013

Role

Fund Manager – Fixed Income

Education

B.E (Electronics), PGDBM - Finance

Experience

Over 19 years of experience September 2016 - till date - Fund Manager September 2013 - September 2016 - NAM India: Asst.Fund Manager Managing investments for Debt Schemes February 22, 2010 - September 2013, NAM India, – Responsible for investment/ trading – Fixed Income. May 2007 – February 2010 NAM India, - Assistant Manager – Fixed Income. Responsible for Assisting Fund Managers in FMP/Open ended portfolio analysis & MIS related activities. June, 2006 to April 2007 NAM India, - Management Trainee – Nippon India Nifty SDL Plus G-Sec - Jun 2029 Maturity Sales & Distribution. Responsible for 70:30 Index Fund Product support to corporate sales team across country.

Funds managed (16)

All schemes Vivek Sharma runs →

Fund managers from the AMC's filed Scheme Summary — its most recent filing for this scheme. Benchmark and dealing terms from it and 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

Vivek Sharma

Nippon India 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 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 Nippon India Ultra Short Term Fund?

As of 01 Oct 2026, the NAV of Nippon India Ultra Short Term Fund is ₹1,093.42 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has Nippon India Ultra Short Term Fund delivered?

Nippon India Ultra Short Term Fund has returned +0.02% over 1 year, +0.05% per year over 3 years, +0.03% 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 Nippon India Ultra Short Term Fund?

Nippon India Ultra Short Term Fund charges an expense ratio of 0.34% 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 Nippon India Ultra Short Term Fund?

Nippon India Ultra Short Term Fund's largest holdings are 8.5% Nirma Limited (2.8%), 9.4% Vedanta Aluminium Metal Limited (2.6%), Punjab National Bank (2.3%), HDFC Bank Limited (2.3%) and 9.31% Vedanta Limited (2.1%). Holdings are disclosed monthly and change over time.

How risky is Nippon India Ultra Short Term Fund?

Nippon India Ultra Short Term Fund is rated low on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 1.0% and its worst peak-to-trough fall in our sample was -5.3%. 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 -6.16 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Nippon India Ultra Short Term Fund's -6.16 means it has not compensated investors for its volatility over the window. Higher is better.

What is the benchmark of Nippon India Ultra Short Term Fund?

Nippon India 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 Nippon India Ultra Short Term Fund?

Nippon India Ultra Short Term Fund is managed by Vivek Sharma at Nippon India.

How is Nippon India Ultra Short Term Fund taxed?

Nippon India 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.