DebtUltra Short Duration FundDirectIDCWLow

Axis Ultra Short Term Fund

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

As of 05 Oct 2026, the NAV of Axis Ultra Short Term Fund is ₹16.99 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 Term Fund delivered?

Axis Ultra Short Term Fund has returned +6.76% over 1 year, +7.44% per year over 3 years, +6.81% per year over 5 years and +6.78% 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 Term Fund?

Axis Ultra Short Term Fund charges an expense ratio of 0.36% 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 Term Fund?

Axis Ultra Short Term Fund's largest holdings are 182 Days Tbill (MD 17/12/2026) (7.3%), Small Industries Dev Bank of India (28/01/2027) (4.8%), Bank of Baroda (04/12/2026) (4.0%), Canara Bank (28/01/2027) (3.6%) and 8.03% Mindspace Business Parks REIT (10/12/2026) (3.3%). Holdings are disclosed monthly and change over time.

Q: How risky is Axis Ultra Short Term Fund?

Axis Ultra Short Term Fund is rated low on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 0.4% and its worst peak-to-trough fall in our sample was -0.8%. 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 Axis Ultra Short Term Fund?

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

Q: Who manages Axis Ultra Short Term Fund?

Axis Ultra Short Term Fund is managed by Hardik Shah and Sachin Jain at Axis.

Q: How is Axis Ultra Short Term Fund taxed?

Axis 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.

Axis Mutual Fund · Best Ultra Short Duration Mutual Funds

NAV

₹16.99

+0.09% 1D

as of 05 Oct 2026

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

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NAV history

+6.74%absolute

52-week rangePrev NAV ₹16.98

Latest ₹16.99

Low ₹15.92100th percentile of its 52-week rangeHigh ₹16.99

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 0.4% (no category average yet)

Cost—

0.4% expense (no category average yet)

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

No significant concerns identified.

Key Metrics

Annual fee charged by the fund, already deducted from NAV

0.36%

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

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 Ultra Short 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.

12 Sep 2018

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

Definitions

Absolute return over the last 1 month (not annualized)

+0.47%

Absolute return over the last 3 months (not annualized)

+1.65%

Absolute return over the last 6 months (not annualized)

+3.69%

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

+5.23%

Annualized returns (≥1Y — CAGR)

Definitions

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

+6.76%

3-year annualized return (CAGR)

+7.44%

5-year annualized return (CAGR)

+6.81%

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.

+6.78%

Advanced metrics — risk

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

0.38%

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

-0.81%

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	+0.47%	—	—
3M abs	+1.65%	—	—
6M abs	+3.69%	—	—
1Y CAGR	+6.76%	—	—
3Y CAGR	+7.44%	—	—
5Y CAGR	+6.81%	—	—

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

₹7.17L

Absolute

+19.42%

XIRR

+7.26%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into Axis 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	+5.23%
2025	+7.48%
2024	+7.89%
2023	+7.46%
2022	+5.08%
2021	+4.09%
2020	+6.20%
2019	+8.58%
2018part	+2.63%

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

1,957

Expense ratio

0.36%

YTM (from holdings)

7.10%

Average maturity

171 days

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 · Ultra Short Duration Fund

Compare all


Axis Ultra Short Term FundThis fund Axis · Direct · IDCW	—	+6.76%	+7.44%	+6.81%	—	0.36%	—
Mirae Asset Ultra Short-Term Fund Mirae Asset · Direct · IDCW	—	+6.69%	+7.41%	+6.72%	—	0.22%	—
Invesco India Ultra Short Term Fund Invesco · Direct · Annual IDCW	—	+6.74%	+7.34%	+6.66%	—	0.27%	—
Invesco India Ultra Short Term Fund Invesco · Direct · Daily IDCW	—	+6.74%	+7.34%	+6.66%	—	0.27%	—
Tata Ultra Short Term Fund Tata · Direct · Monthly IDCW	—	+7.04%	+7.33%	+6.71%	—	0.33%	₹5,343Cr
Tata Ultra Short Term Fund Tata · Direct · Monthly IDCW	—	+7.04%	+7.33%	+6.71%	—	0.33%	₹5,343Cr

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Debt95.30%
Cash & Equivalents4.37%
Other0.30%

Cash & cash-like: 7.95% — the 4.37% 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

Small Industries Dev Bank of India (28/01/2027)

4.80%

Bank of Baroda (04/12/2026)

4.05%

Canara Bank (28/01/2027)

3.61%

National Bank For Agriculture and Rural Development (14/01/2027)

3.21%

Union Bank of India (19/01/2027)

3.21%

HDFC Bank Limited (14/12/2026)

2.83%

Punjab National Bank (15/12/2026)

2.83%

Export Import Bank of India (11/12/2026)

2.43%

Canara Bank (18/12/2026)

2.42%

IDBI Bank Limited (11/03/2027)

2.38%

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

₹3,69,030Cr+2.6% QoQ

Avg AUM · April - June 2026

Website

axismf.com

Fund Managers

HSHardik ShahManaging since 04 Nov 2024

Role

Fund Manager – Fixed Income

Education

MBA (Finance), B.E(I.T)

Experience

15 years, his last 10 • Axis Asset Management Company Ltd (January 2022 – Present) • SBI LIFE Insurance Co. Ltd. (June 2020 – January 2022) • Nippon India Asset Management Co. Ltd. ( erst. Reliance Mutual Fund) ( July 2013 – June 2020) Quantum Mutual Fund (Nov 2009 – July 2013) 28

Funds managed (13)

All schemes Hardik Shah runs →

SJSachin JainManaging since 04 Sep 2020

Role

Fund Manager – Fixed Income

Education

PGDM, B.TECH

Experience

Axis Asset Sep 4, 2020 Management - till date Company Ltd. (Fund Manager - Fixed Income) Axis Asset July 11, Management 2017 – Sep Company Ltd. 3, 2020 (Dealer - Fixed Income) Sundaram Asset June 3, Management 2013 – July Company Ltd. 10, 2017 (Trader – Fixed Income) ICAP Ltd. November 9, 2010 (Dealer – Fixed – Income) May 31, 2013 Sundhi Securities November 2, 2009 and Finance Ltd. – (Dealer – Fixed October 29, 2010 Income)

Funds managed (8)

All schemes Sachin Jain 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

Hardik Shah Sachin Jain

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.

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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 Axis Ultra Short Term Fund?

As of 05 Oct 2026, the NAV of Axis Ultra Short Term Fund is ₹16.99 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has Axis Ultra Short Term Fund delivered?

Axis Ultra Short Term Fund has returned +6.76% over 1 year, +7.44% per year over 3 years, +6.81% per year over 5 years and +6.78% 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 Term Fund?

Axis Ultra Short Term Fund charges an expense ratio of 0.36% 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 Term Fund?

Axis Ultra Short Term Fund's largest holdings are 182 Days Tbill (MD 17/12/2026) (7.3%), Small Industries Dev Bank of India (28/01/2027) (4.8%), Bank of Baroda (04/12/2026) (4.0%), Canara Bank (28/01/2027) (3.6%) and 8.03% Mindspace Business Parks REIT (10/12/2026) (3.3%). Holdings are disclosed monthly and change over time.

How risky is Axis Ultra Short Term Fund?

Axis Ultra Short Term Fund is rated low on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 0.4% and its worst peak-to-trough fall in our sample was -0.8%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What is the benchmark of Axis Ultra Short Term Fund?

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

Who manages Axis Ultra Short Term Fund?

Axis Ultra Short Term Fund is managed by Hardik Shah and Sachin Jain at Axis.

How is Axis Ultra Short Term Fund taxed?

Axis 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.