DebtUltra Short Duration FundDirectIDCWLow

Mirae Asset Ultra Short-Term Fund

Q: What is the NAV of Mirae Asset Ultra Short-Term Fund?

As of 05 Oct 2026, the NAV of Mirae Asset Ultra Short-Term Fund is ₹1,436.10 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has Mirae Asset Ultra Short-Term Fund delivered?

Mirae Asset Ultra Short-Term Fund has returned +6.69% over 1 year, +7.41% per year over 3 years, +6.72% per year over 5 years and +6.22% 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 Mirae Asset Ultra Short-Term Fund?

Mirae Asset Ultra Short-Term Fund charges an expense ratio of 0.22% 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 Mirae Asset Ultra Short-Term Fund?

Mirae Asset Ultra Short-Term Fund's largest holdings are HDFC Bank Ltd. (MD 14/12/2026) (6.7%), Punjab National Bank (MD 10/02/2027) (5.9%), 8.55% Motilal Oswal Home Finance Ltd. (MD 07/01/2027) (3.6%), National Bank for Agriculture and Rural Development (MD 26/02/2027) (3.5%) and 7.64% REC Ltd. (MD 30/04/2027) (2.7%). Holdings are disclosed monthly and change over time.

Q: How risky is Mirae Asset Ultra Short-Term Fund?

Mirae Asset 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 -0.2%. 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 Mirae Asset Ultra Short-Term Fund?

Mirae Asset 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 Mirae Asset Ultra Short-Term Fund?

Mirae Asset Ultra Short-Term Fund is managed by Basant Bafna at Mirae Asset.

Q: How is Mirae Asset Ultra Short-Term Fund taxed?

Mirae Asset 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.

Mirae Asset Mutual Fund · Best Ultra Short Duration Mutual Funds

NAV

₹1,436.10

+0.08% 1D

as of 05 Oct 2026

This is the Direct plan of Mirae Asset 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

+6.66%absolute

52-week rangePrev NAV ₹1,434.94

Latest ₹1,436.10

Low ₹1,346.44100th percentile of its 52-week rangeHigh ₹1,436.10

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—

0.2% 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

0.22%

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

₹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.

08 Oct 2020

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

Definitions

Absolute return over the last 1 month (not annualized)

+0.48%

Absolute return over the last 3 months (not annualized)

+1.58%

Absolute return over the last 6 months (not annualized)

+3.73%

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

+5.17%

Annualized returns (≥1Y — CAGR)

Definitions

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

+6.69%

3-year annualized return (CAGR)

+7.41%

5-year annualized return (CAGR)

+6.72%

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.

+6.22%

Advanced metrics — risk

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

0.39%

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

-0.16%

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	+0.48%	—	—
3M abs	+1.58%	—	—
6M abs	+3.73%	—	—
1Y CAGR	+6.69%	—	—
3Y CAGR	+7.41%	—	—
5Y CAGR	+6.72%	—	—

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

₹7.15L

Absolute

+19.25%

XIRR

+7.20%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into Mirae Asset 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	+5.17%
2025	+7.41%
2024	+7.93%
2023	+7.33%
2022	+4.86%
2021	+3.69%
2020part	+0.91%

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

1,449

Expense ratio

0.22%

YTM

7.09%

Modified duration

168 days

Macaulay duration

179 days

Average maturity

0.74 years

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


Mirae Asset Ultra Short-Term FundThis fund Mirae Asset · Direct · IDCW	—	+6.69%	+7.41%	+6.72%	—	0.22%	—
Axis Ultra Short Term Fund Axis · Direct · IDCW	—	+6.76%	+7.44%	+6.81%	—	0.36%	—
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

Debt89.00%
Cash & Equivalents10.71%
Other0.29%

which companies this fund invests in

As on 31 Aug 2026 · AMC disclosure

HDFC Bank Ltd. (MD 14/12/2026)

6.65%

Punjab National Bank (MD 10/02/2027)

5.88%

National Bank for Agriculture and Rural Development (MD 26/02/2027)

3.51%

Small Industries Development Bank of India (MD 04/12/2026)

2.38%

Export-Import Bank of India (MD 25/01/2027)

2.36%

Tata Capital Housing Finance Ltd. (MD 03/02/2027)

2.35%

Indian Bank (MD 09/02/2027)

2.35%

National Bank for Agriculture and Rural Development (MD 18/03/2027)

2.33%

Indian Bank (MD 21/06/2027)

2.29%

Indian Bank (MD 12/01/2027)

2.06%

AMC Profile

Mirae Asset Mutual Fund is the Indian arm of Mirae Asset, the South Korean manager, and has operated here since 2008. Its growth came largely from a small number of large equity schemes rather than a wide line-up.

Launched

29 Nov 2007

Total AUM

₹2,37,421Cr+5.5% QoQ

Avg AUM · July - September 2026

Website

miraeassetmf.co.in

Fund Managers

BBBasant BafnaManaging since 16 Jan 2023

Role

Senior Fund Manager

Education

CFA, FRM, MBA (Finance), B Com (Hons), Certified Treasury Professional, Certified Associate of the Indian Institute of Bankers, Clearedall three levels of Company Secretary

Experience

Mr. Basant Bafna has over 14 years of experience in the banking industry. Prior to this assignment, Mr. Basant Bafna worked as Chief Dealer and Assistant General Manager with Export-Import Bank of India. The

Funds managed (2)

All schemes Basant Bafna 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.

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Fund managers

Basant Bafna

Mirae Asset 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 Mirae Asset Ultra Short-Term Fund?

As of 05 Oct 2026, the NAV of Mirae Asset Ultra Short-Term Fund is ₹1,436.10 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has Mirae Asset Ultra Short-Term Fund delivered?

Mirae Asset Ultra Short-Term Fund has returned +6.69% over 1 year, +7.41% per year over 3 years, +6.72% per year over 5 years and +6.22% 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 Mirae Asset Ultra Short-Term Fund?

Mirae Asset Ultra Short-Term Fund charges an expense ratio of 0.22% 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 Mirae Asset Ultra Short-Term Fund?

Mirae Asset Ultra Short-Term Fund's largest holdings are HDFC Bank Ltd. (MD 14/12/2026) (6.7%), Punjab National Bank (MD 10/02/2027) (5.9%), 8.55% Motilal Oswal Home Finance Ltd. (MD 07/01/2027) (3.6%), National Bank for Agriculture and Rural Development (MD 26/02/2027) (3.5%) and 7.64% REC Ltd. (MD 30/04/2027) (2.7%). Holdings are disclosed monthly and change over time.

How risky is Mirae Asset Ultra Short-Term Fund?

Mirae Asset 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 -0.2%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What is the benchmark of Mirae Asset Ultra Short-Term Fund?

Mirae Asset 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 Mirae Asset Ultra Short-Term Fund?

Mirae Asset Ultra Short-Term Fund is managed by Basant Bafna at Mirae Asset.

How is Mirae Asset Ultra Short-Term Fund taxed?

Mirae Asset 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.