DebtUltra Short Duration FundRegularIDCWLow

ICICI Prudential Ultra Short term Fund

Q: What is the NAV of ICICI Prudential Ultra Short term Fund?

As of 06 Oct 2026, the NAV of ICICI Prudential Ultra Short term Fund is ₹10.07 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has ICICI Prudential Ultra Short term Fund delivered?

ICICI Prudential Ultra Short term Fund has returned -0.24% over 1 year, +0.02% per year over 3 years, +0.04% per year over 5 years and +0.09% 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 ICICI Prudential Ultra Short term Fund?

ICICI Prudential Ultra Short term Fund charges an expense ratio of 0.80% 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 ICICI Prudential Ultra Short term Fund?

ICICI Prudential Ultra Short term Fund's largest holdings are 91 Days Treasury Bills (3.1%), Canara Bank (2.9%), Small Industries Development Bank Of India. (2.7%), Punjab National Bank (2.4%) and Small Industries Development Bank Of India. (2.2%). Holdings are disclosed monthly and change over time.

Q: How risky is ICICI Prudential Ultra Short term Fund?

ICICI Prudential Ultra Short term Fund is rated low on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 0.2% and its worst peak-to-trough fall in our sample was -1.6%. 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 ICICI Prudential Ultra Short term Fund?

ICICI Prudential 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 ICICI Prudential Ultra Short term Fund?

ICICI Prudential Ultra Short term Fund is managed by Manish Banthia and Ritesh Lunawat at ICICI Prudential.

Q: How is ICICI Prudential Ultra Short term Fund taxed?

ICICI Prudential 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.

ICICI Prudential Mutual Fund · Best Ultra Short Duration Mutual Funds

NAV

₹10.07

0.00% 1D

as of 06 Oct 2026

This is the Regular plan of ICICI Prudential Ultra Short term Fund — bought through a distributor, whose commission is paid out of its expense ratio. Income is distributed daily, which is why this NAV sits below the growth plan of the same fund.

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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 (+6.98% 3Y CAGR)

NAV history

-0.24%absolute

52-week rangePrev NAV ₹10.07

Latest ₹10.07

Low ₹10.0624th percentile of its 52-week rangeHigh ₹10.09

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 0.2% (no category average yet)

Cost—

0.8% expense (no category average yet)

ConsistencyModerate

77% of rolling 3Y windows were positive

Key Metrics

Annual fee charged by the fund, already deducted from NAV

0.80%

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

Regular · IDCW

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

None

Nil The Trustees shall have a right to prescribe or modify the exit load structure with prospective effect subject to a maximum prescribed under the Regulations.

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

₹1,000

Smallest one-time (lumpsum) investment the scheme accepts

₹5,000

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.

19 Oct 2018

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

Definitions

Absolute return over the last 1 month (not annualized)

-0.15%

Absolute return over the last 3 months (not annualized)

-0.16%

Absolute return over the last 6 months (not annualized)

0.00%

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

-0.08%

Annualized returns (≥1Y — CAGR)

Definitions

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

-0.24%

3-year annualized return (CAGR)

+0.02%

5-year annualized return (CAGR)

+0.04%

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.

+0.09%

Advanced metrics — risk

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

0.24%

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

-1.60%

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	-0.15%	—	—
3M abs	-0.16%	—	—
6M abs	0.00%	—	—
1Y CAGR	-0.24%	—	—
3Y CAGR	+0.02%	—	—
5Y CAGR	+0.04%	—	—

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

₹6.00L

Absolute

0.00%

XIRR

0.00%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into ICICI Prudential 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	-0.08%
2025	-0.04%
2024	+0.12%
2023	+0.20%
2022	0.00%
2021	-0.29%
2020	+0.21%
2019	+0.57%
2018part	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

1,927

Expense ratio

0.80%

AUM

₹15,759Cr

YTM (from holdings)

7.26%

Average maturity

0.50 years

Exit load

Nil The Trustees shall have a right to prescribe or modify the exit load structure with prospective effect subject to a maximum prescribed under the Regulations.

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


ICICI Prudential Ultra Short term FundThis fund ICICI Prudential · Regular · Daily IDCW	—	-0.24%	+0.02%	+0.04%	—	0.80%	₹15,759Cr
Mirae Asset Ultra Short-Term Fund Mirae Asset · Regular · IDCW	—	+6.39%	+7.15%	+6.48%	—	0.68%	₹2,015Cr
Bandhan Ultra Short Term Fund Bandhan · Regular · Periodic IDCW	—	+6.28%	+6.98%	+6.32%	—	—	₹15.62L
SBI Ultra Short Term Fund SBI · Regular · IDCW	—	+6.20%	+6.94%	+6.29%	—	0.57%	₹11,771Cr
UTI Ultra Short Term Fund UTI · Regular · Annual IDCW	—	+5.95%	+6.68%	+5.32%	—	0.99%	₹3,501Cr
UTI Ultra Short Term Fund UTI · Regular · Flexi IDCW	—	+5.95%	+6.68%	+5.43%	—	—	₹1.03Cr

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Debt93.27%
Cash & Equivalents6.42%
Other0.31%

Fund size over time

Quarterly average AUM · AMFI

₹15,759Cr

July - September 2026

-6%

since January - March 2026

+₹228.58Cr

est. net flow, last quarter

Down +6% from its peak of ₹16,807Cr in January - March 2026. Size matters most where the mandate is narrow — a large small-cap or a very large flexi-cap book is harder to move without moving the price.

Net flow is an estimate: AMFI publishes a quarterly average AUM, not a closing balance, and it covers every plan and option of this scheme together, so it is a read on direction and rough size rather than a cash-flow statement.

AMC Profile

ICICI Prudential Mutual Fund is a joint venture between ICICI Bank and Prudential plc of the UK, in business since 1993. It is among India's largest houses by assets and runs one of the industry's widest scheme line-ups across equity, debt and hybrid.

Launched

11 Oct 1993

Total AUM

₹11,55,871Cr+3.7% QoQ

Avg AUM · July - September 2026

Website

icicipruamc.com

Fund Managers

MBManish BanthiaStart date not disclosed

Role

Chief Investment Officer - Fixed Income

Education

Chartered Accountant, MBA and B.Com

Experience

Mr. Manish Banthia is the Chief Investment Officer for the Fixed Income Investments. He is associated with ICICI Prudential Asset Management Company Limited since October 2005. He has an overall work experience of around 21 years. Past Experience: ~ ICICI Prudential Asset Management Company Limited - Fixed Income Investments - August 2007 to October 2009. ~ ICICI Prudential Asset Management Company Limited - New Product Development - October 2005 to July 2007. ~ Aditya Birla Nuvo Ltd. – June 2005 to October 2005. ~ Aditya Birla Management Corporation Ltd. – May 2004 to May 2005.

Funds managed (24)

All schemes Manish Banthia runs →

RLRitesh LunawatStart date not disclosed

Role

Fund Manager – Fixed Income

Total experience

Over 11 years

Education

Chartered Accountant, B.Com and Chartered Financial Analyst (CFA)

Experience

Mr. Ritesh Lunawat is associated with ICICI Prudential Asset Management Company Limited from September 27, 2013. He started his career with ICICI Prudential Asset Management Company Limited and is currently a Fund Manager.

Funds managed (9)

All schemes Ritesh Lunawat 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

Manish Banthia Ritesh Lunawat

ICICI Prudential 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 ICICI Prudential Ultra Short term Fund?

As of 06 Oct 2026, the NAV of ICICI Prudential Ultra Short term Fund is ₹10.07 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has ICICI Prudential Ultra Short term Fund delivered?

ICICI Prudential Ultra Short term Fund has returned -0.24% over 1 year, +0.02% per year over 3 years, +0.04% per year over 5 years and +0.09% 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 ICICI Prudential Ultra Short term Fund?

ICICI Prudential Ultra Short term Fund charges an expense ratio of 0.80% 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 ICICI Prudential Ultra Short term Fund?

ICICI Prudential Ultra Short term Fund's largest holdings are 91 Days Treasury Bills (3.1%), Canara Bank (2.9%), Small Industries Development Bank Of India. (2.7%), Punjab National Bank (2.4%) and Small Industries Development Bank Of India. (2.2%). Holdings are disclosed monthly and change over time.

How risky is ICICI Prudential Ultra Short term Fund?

ICICI Prudential Ultra Short term Fund is rated low on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 0.2% and its worst peak-to-trough fall in our sample was -1.6%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What is the benchmark of ICICI Prudential Ultra Short term Fund?

ICICI Prudential 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 ICICI Prudential Ultra Short term Fund?

ICICI Prudential Ultra Short term Fund is managed by Manish Banthia and Ritesh Lunawat at ICICI Prudential.

How is ICICI Prudential Ultra Short term Fund taxed?

ICICI Prudential 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.