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HSBC Ultra Short Duration Fund

Q: What is the NAV of HSBC Ultra Short Duration Fund?

As of 05 Oct 2026, the NAV of HSBC Ultra Short Duration Fund is ₹1,464.69 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has HSBC Ultra Short Duration Fund delivered?

HSBC Ultra Short Duration Fund has returned +6.40% over 1 year, +6.99% per year over 3 years, +6.34% per year over 5 years and +5.87% 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 HSBC Ultra Short Duration Fund?

HSBC Ultra Short Duration Fund charges an expense ratio of 0.38% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

Q: How risky is HSBC Ultra Short Duration Fund?

HSBC Ultra Short Duration 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 -1.0%. 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 HSBC Ultra Short Duration Fund?

HSBC Ultra Short Duration 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 HSBC Ultra Short Duration Fund?

HSBC Ultra Short Duration Fund is managed by Mahesh Chhabria and Rahul Totla at HSBC.

Q: How is HSBC Ultra Short Duration Fund taxed?

HSBC Ultra Short Duration 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.

HSBC Mutual Fund · Best Ultra Short Duration Mutual Funds

NAV

₹1,464.69

+0.08% 1D

as of 05 Oct 2026

This is the Regular plan of HSBC Ultra Short Duration Fund — bought through a distributor, whose commission is paid out of its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.

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NAV history

+6.38%absolute

52-week rangePrev NAV ₹1,463.55

Latest ₹1,464.69

Low ₹1,376.83100th percentile of its 52-week rangeHigh ₹1,464.69

Scorecard

★★★★☆4/5 vs 25 of 27 Ultra Short Duration 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 Ultra Short Duration Fund (same plan and option). 25 of the 27 Ultra Short Duration Funds in this cohort carry the full record the stars need, so they are the ones ranked against.

PerformanceStrong

3Y CAGR +6.99% · ranks 4 of 25 Ultra Short Duration Funds

RiskModerate

Volatility 0.4% vs 0.4% category avg

CostLow

0.4% expense vs 0.9% category avg

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

Ranks #2 of 27 on 1-year return in its Ultra Short Duration Fund cohort
Low expense ratio (0.38%) vs the Ultra Short Duration Fund average of 0.88%
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

0.38%

Category 0.88%▼0.50%

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 · Growth

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

₹500

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.

30 Jan 2020

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

Definitions

Absolute return over the last 1 month (not annualized)

+0.41%

Absolute return over the last 3 months (not annualized)

+1.53%

Absolute return over the last 6 months (not annualized)

+3.49%

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

+4.99%

Annualized returns (≥1Y — CAGR)

Definitions

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

+6.40%

3-year annualized return (CAGR)

+6.99%

5-year annualized return (CAGR)

+6.34%

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.

+5.87%

Advanced metrics — risk

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

0.37%

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

-0.97%

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	+0.41%	+0.39%	+0.02%
3M abs	+1.53%	+1.40%	+0.13%
6M abs	+3.49%	+3.29%	+0.20%
1Y CAGR	+6.40%	+5.92%	+0.48%
3Y CAGR	+6.99%	+6.65%	+0.34%
5Y CAGR	+6.34%	+6.04%	+0.30%

Category average across peers in Ultra Short Duration Fund (up to 27 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 27 peers in Ultra Short Duration Fund

1Y return

+6.40%

Beats 96.2% · rank #2

3Y return

+6.99%

Beats 87.5% · rank #4

5Y return

+6.34%

Beats 87% · rank #4

Sharpe

—

Sortino

—

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

₹7.09L

Absolute

+18.15%

XIRR

+6.82%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into HSBC Ultra Short Duration 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	+4.99%
2025	+6.97%
2024	+7.42%
2023	+6.97%
2022	+4.55%
2021	+3.48%
2020part	+4.87%

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

1,617

Expense ratio

0.38%

AUM

₹3,302Cr

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


HSBC Ultra Short Duration FundThis fund HSBC · Regular · Growth	★★★★☆	+6.40%	+6.99%	+6.34%	—	0.38%	₹3,302Cr
Aditya Birla Sun Life Ultra Short Term Fund Aditya Birla Sun Life · Regular · Growth	★★★★★	+6.33%	+7.23%	+6.57%	—	0.58%	—
Mirae Asset Ultra Short-Term Fund Mirae Asset · Regular · Growth	★★★★☆	+6.41%	+7.15%	+6.48%	—	0.68%	—
Baroda BNP Paribas Ultra Short Term Fund Baroda BNP Paribas · Regular · Growth	★★★★★	+6.40%	+7.04%	+6.51%	—	0.45%	—
ICICI Prudential Ultra Short term Fund ICICI Prudential · Regular · Growth	★★★★☆	+6.23%	+6.98%	+6.34%	—	0.80%	₹15,512Cr
Bandhan Ultra Short Term Fund Bandhan · Regular · Growth	★★★☆☆	+6.28%	+6.95%	+6.30%	—	0.49%	—

Fund size over time

Quarterly average AUM · AMFI

₹3,302Cr

April - June 2026

+11%

since January - March 2026

+₹286.71Cr

est. net flow, last quarter

At or near its largest, ₹3,302Cr in April - June 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

HSBC Mutual Fund is the Indian arm of HSBC Asset Management and has operated here since 2002. It roughly tripled in size by acquiring L&T Mutual Fund in 2022 and merging the two line-ups.

Launched

26 May 2002

Total AUM

₹1,56,995Cr+9.8% QoQ

Avg AUM · July - September 2026

Website

assetmanagement.hsbc.co.in/en

Fund Managers

MCMahesh ChhabriaManaging since 26 Nov 2022

Role

VP Fund Management Fixed Income

Education

Masters in Management Studies (M.M.S)

Experience

Over 15 years of experience HSBC Asset Management (India) Private Limited as SVP - Fund Management - Fixed Income (Since March 01, 2024) as VP - Fund Management - Fixed Income (from November 26, 2022 – February 28, 2024) Prior Assignments: L&T Investment Management Ltd Fixed Income – Fund Manager from November 25, 2021 to November 25, 2022. L&T Investment Management Ltd Dealer in Fixed Income since June, 2015 till November 24, 2021 Edelweiss Securities Ltd Fixed Income dealer from October 2013 - June 2015 Derivium Traditions Pvt. Ltd. Fixed Income dealer from February 2013- October 2013 L&T Investment Management Ltd. Associate in Investment Operations from November 2012 – February 2013. FIL Fund Management Pvt. Ltd. Associate in Investment Operations from August 2010 – November, 2012 Edelweiss Securities Limited as Equity dealer from March 2007 to May 2014. Karvy Stock Broking Limited as Equity dealer from June 2005 to March 2007

Funds managed (11)

All schemes Mahesh Chhabria runs →

RTRahul TotlaManaging since 01 Jan 2026

Role

VP Fund Management – Fixed Income

Education

BE (Electronics), MBA (Finance)

Experience

16 HSBC Global Asset Management Company Ltd. VP Fund Management – Fixed Income from March 2017 onwards. Prior Assignments: IDBI Asset Management Company Ltd. Dealer – Fixed Income from November 2014 to March 2017. ING Investment Management Ltd. Dealer – Fixed Income from January 2014 to October 2014. Edelweiss Asset Management Company Ltd. Assistant Fund Manager – Fixed Income from July 2011 to Dec. 2013. Godfrey Phillips India Ltd. Deputy Manager – Operations from November 2005 to April 2008. 17 PUBLIC

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.

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Fund managers

Mahesh Chhabria

HSBC 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 HSBC Ultra Short Duration Fund?

As of 05 Oct 2026, the NAV of HSBC Ultra Short Duration Fund is ₹1,464.69 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has HSBC Ultra Short Duration Fund delivered?

HSBC Ultra Short Duration Fund has returned +6.40% over 1 year, +6.99% per year over 3 years, +6.34% per year over 5 years and +5.87% 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 HSBC Ultra Short Duration Fund?

HSBC Ultra Short Duration Fund charges an expense ratio of 0.38% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

How risky is HSBC Ultra Short Duration Fund?

HSBC Ultra Short Duration 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 -1.0%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What is the benchmark of HSBC Ultra Short Duration Fund?

HSBC Ultra Short Duration 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 HSBC Ultra Short Duration Fund?

HSBC Ultra Short Duration Fund is managed by Mahesh Chhabria and Rahul Totla at HSBC.

How is HSBC Ultra Short Duration Fund taxed?

HSBC Ultra Short Duration 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.