HSBC Ultra Short Duration Fund
This is the Direct plan of HSBC Ultra Short Duration 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.
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 (+7.22% 3Y CAGR)NAV history
Scorecard
Not ratedHow 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.
Not enough Ultra Short Duration Fund peers to rank yet
Volatility 1.1% (no category average yet)
0.2% expense (no category average yet)
31% 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 31% of rolling 3-year windows
Key Metrics
Scheme Info
DefinitionsPeriod returns (<1Y, absolute — not annualized)
DefinitionsAnnualized returns (≥1Y — CAGR)
DefinitionsAdvanced metrics — risk
Fund vs category average (Ultra Short Duration Fund)
| Period | Fund | Category avg. | Diff |
|---|---|---|---|
| 1M abs | +0.01% | — | — |
| 3M abs | +0.02% | — | — |
| 6M abs | +0.11% | — | — |
| 1Y CAGR | +0.03% | — | — |
| 3Y CAGR | +0.04% | — | — |
| 5Y CAGR | +0.01% | — | — |
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.
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 | +0.11% | |
| 2025 | -0.12% | |
| 2024 | +0.09% | |
| 2023 | 0.00% | |
| 2022 | -0.08% | |
| 2021 | +0.02% | |
| 2020part | +0.83% |
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.
Fund size over time
Quarterly average AUM · AMFIAt 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.
Fund Managers
MCMahesh ChhabriaManaging since 26 Nov 2022
VP Fund Management Fixed Income
Masters in Management Studies (M.M.S)
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
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RTRahul TotlaManaging since 01 Jan 2026
VP Fund Management – Fixed Income
BE (Electronics), MBA (Finance)
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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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 06 Oct 2026, the NAV of HSBC Ultra Short Duration Fund is ₹1,008.94 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 +0.03% over 1 year, +0.04% per year over 3 years, +0.01% per year over 5 years and +0.13% 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 0.18% 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 1.1% and its worst peak-to-trough fall in our sample was -1.1%. 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 -6.08 mean?
The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. HSBC Ultra Short Duration Fund's -6.08 means it has not compensated investors for its volatility over the window. Higher is better.
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.