This is the Direct plan of Axis Overnight Fund — bought from the fund house, with no distributor commission in its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.
NAV history
Scorecard
★★★☆☆3/5 vs 33 of 39 Overnight Fund peers- Performance 60%
- Risk 15%
- Cost 10%
- Downside 15%
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. The stars weight the same ground 60/15/10/15 (performance/risk/cost/downside) across every fund in the peer group. Ranked within Overnight Fund (same plan and option). 33 of the 39 Overnight Funds in this cohort carry the full record the stars need, so they are the ones ranked against.
3Y CAGR +6.08% · ranks 3 of 33 Overnight Funds
Volatility 0.1% vs 0.1% category avg
0.1% expense vs 0.1% category avg
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
- Ranks #6 of 36 on 1-year return in its Overnight Fund cohort
- Low expense ratio (0.09%) vs the Overnight Fund average of 0.12%
- Consistent — positive in 100% of rolling 3-year windows
Concerns
No significant concerns identified.
Key Metrics
Scheme Info
DefinitionsPeriod returns (<1Y, absolute — not annualized)
DefinitionsAnnualized returns (≥1Y — CAGR)
DefinitionsAdvanced metrics — risk
Fund vs category average (Overnight Fund)
| Period | Fund | Category avg. | Diff |
|---|---|---|---|
| 1M abs | +0.42% | +0.40% | +0.02% |
| 3M abs | +1.28% | +1.26% | +0.02% |
| 6M abs | +2.57% | +2.55% | +0.02% |
| 1Y CAGR | +5.28% | +5.22% | +0.06% |
| 3Y CAGR | +6.08% | +6.02% | +0.06% |
| 5Y CAGR | +5.77% | +5.72% | +0.05% |
Category average across peers in Overnight Fund (up to 39 funds with data), 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.
Category rank
Vs 39 peers in Overnight Fund
Backtest this fund
What a SIP or one-time investment would have grown to over this fund’s real NAV history.
60 monthly installments of ₹10,000 into Axis Overnight 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 | +3.96% | |
| 2025 | +5.86% | |
| 2024 | +6.75% | |
| 2023 | +6.75% | |
| 2022 | +4.72% | |
| 2021 | +3.21% | |
| 2020 | +3.42% | |
| 2019part | +4.34% |
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.
Taxation
Taxed as debtThis 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.
Your income-tax slab — no LTCG or indexation benefit
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.
Asset allocation
As on 31 Aug 2026 · AMC disclosure- Cash & Equivalents95.99%
- Debt4.00%
Fund size over time
Quarterly average AUM · AMFIAt or near its largest, ₹12,830Cr 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
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.
Fund Managers
SJSachin JainStart date not disclosed
Fund Manager – Fixed Income
PGDM, B.TECH
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)
HSHardik SatraStart date not disclosed
Assistant Fund Manager – Fixed Income
MBA - Financial Planning
13 Years – - Axis Securities Ltd. - (July 9, 2012 to Mar. 31, 2016) - Axis Asset Management Company Ltd. - (MIS management) (Apr. 1, 2016 to June 14, 2016) - Axis Asset Management Company Ltd. - (Portfolio Analytics)( June 15, 2016 till May 21, 2019) - Axis Asset Management Company Ltd. (May 22, 2019 till date)
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
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.
Investors should avoid thinking of debt as a risk-free asset class: Devang Shah of Axis Mutual Fund explains why
Livemint · 12h ago
Moneycontrol Hosts Mutual Fund Summit In Delhi
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Axis Pension Fund launches NPS Swasthya scheme for healthcare expenses
Fortune India · 4d ago
Axis Nifty Capital Markets Index Fund - Regular Plan Portfolio
The Economic Times · 4d ago
Axis MF's Shreyash Devalkar backs financials, says IT remains a trade despite correction
CNBC TV18 · 5d ago
Axis ELSS- Tax Saver Fund - Regular IDCW Payout
Alice Blue · 6d ago
Debt mutual funds: Axis MF suggests where to invest as RBI may raise rates by 50-75 bps over next 6 months
Livemint · 6d ago
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 Overnight funds
Overnight funds hold securities maturing the very next day, making them the lowest-risk debt category. They're a place to park cash for a few days with almost no interest-rate risk.
Frequently asked questions
What is the NAV of Axis Overnight Fund?
As of 05 Oct 2026, the NAV of Axis Overnight Fund is ₹1,463.51 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.
What returns has Axis Overnight Fund delivered?
Axis Overnight Fund has returned +5.28% over 1 year, +6.08% per year over 3 years, +5.77% per year over 5 years and +5.16% 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 Overnight Fund?
Axis Overnight Fund charges an expense ratio of 0.09% 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 Overnight Fund?
Axis Overnight Fund's largest holdings are 182 Days Tbill (MD 10/09/2026) (1.6%), 182 Days Tbill (MD 18/09/2026) (1.3%), 91 Days Tbill (MD 24/09/2026) (0.5%), 182 Days Tbill (MD 03/09/2026) (0.4%) and 364 Days Tbill (MD 10/09/2026) (0.1%). Holdings are disclosed monthly and change over time.
How risky is Axis Overnight Fund?
Axis Overnight 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 -0.1%. 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 Overnight Fund?
Axis Overnight Fund is benchmarked against the Nifty 1D Rate Index. Its alpha and beta on this page are measured against that index.
Who manages Axis Overnight Fund?
Axis Overnight Fund is managed by Sachin Jain and Hardik Satra at Axis.
How is Axis Overnight Fund taxed?
Axis Overnight 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.