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ITI Ultra Short Term Fund

Q: What is the NAV of ITI Ultra Short Term Fund?

As of 21 Aug 2026, the NAV of ITI Ultra Short Term Fund is ₹1,374.49 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has ITI Ultra Short Term Fund delivered?

ITI Ultra Short Term Fund has returned +6.41% over 1 year, +7.10% per year over 3 years, +6.33% per year over 5 years and +6.19% 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 ITI Ultra Short Term Fund?

ITI Ultra Short Term Fund charges an expense ratio of 0.21% 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 ITI Ultra Short Term Fund?

Its largest holdings are BANK OF BARODA CD 05MAR27 (8.8%), 91 Days Tbill (MD 17/09/2026) (7.8%), ICICI SECURITIES LIMITED 91D CP 03SEP26 (7.1%), REC Ltd SR-147 Bonds 7.95 12/03/2027 (6.6%) and NATIONAL HOUSING BANK 7.40 BD 16JL26 FVRS1LAC (6.5%). Holdings are disclosed monthly and change over time.

Q: How risky is ITI Ultra Short Term Fund?

It is rated low on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 0.3% 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 ITI Ultra Short Term Fund?

ITI Ultra Short Term Fund is benchmarked against the CRISIL Ultra Short Duration Debt A-I Index. Its alpha and beta on this page are measured against that index.

Q: Who manages ITI Ultra Short Term Fund?

ITI Ultra Short Term Fund is managed by Laukik Bagwe at ITI.

Q: How is ITI Ultra Short Term Fund taxed?

ITI 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.

ITI Mutual Fund · Best Ultra Short Duration Mutual Funds

This is the Direct plan of ITI Ultra Short Term 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

₹1,374.49

-0.00% 1D

as of 21 Aug 2026

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NAV history

+6.42%CAGR

52-week rangePrev NAV ₹1,374.52

Latest ₹1,374.49

Low ₹1,291.66100th percentile of its 52-week rangeHigh ₹1,374.74

Scorecard

★★★★☆4/5 vs 25 of 24 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 24 Ultra Short Duration Funds in this cohort carry the full record the stars need, so they are the ones ranked against.

PerformanceBelow avg

3Y CAGR +7.10% · ranks 19 of 24 Ultra Short Duration Funds

RiskModerate

Volatility 0.3% vs 0.4% category avg

CostLow

0.2% expense vs 0.3% 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

Low expense ratio (0.21%) vs the Ultra Short Duration Fund average of 0.35%
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

Category 0.35%

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 · Growth

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

Exit Load

Statutory levy on every mutual-fund purchase since 1 Jul 2020 (SEBI / Govt of India) — the same for every scheme

0.005%

SIP Inv.

Smallest recurring SIP instalment the scheme accepts

Smallest one-time (lumpsum) investment the scheme accepts

Benchmark

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.

06 May 2021

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

Definitions

Absolute return over the last 1 month (not annualized)

+0.54%

Absolute return over the last 3 months (not annualized)

+1.87%

Absolute return over the last 6 months (not annualized)

+3.36%

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

+4.13%

Annualized returns (≥1Y — CAGR)

Definitions

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

+6.41%

3-year annualized return (CAGR)

+7.10%

5-year annualized return (CAGR)

+6.33%

10-year annualized return (CAGR)

—

Annualized return (CAGR) since the fund's inception

+6.19%

Advanced metrics — risk

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

0.34%

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

-0.19%

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	+0.54%	+0.54%	0.00%
3M abs	+1.87%	+2.01%	-0.14%
6M abs	+3.36%	+3.42%	-0.06%
1Y CAGR	+6.41%	+6.49%	-0.08%
3Y CAGR	+7.10%	+7.24%	-0.14%
5Y CAGR	+6.33%	+6.51%	-0.18%

Category average across peers in Ultra Short Duration Fund (up to 24 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 24 peers in Ultra Short Duration Fund

1Y return

+6.41%

Beats 37.5% · rank #16

3Y return

+7.10%

Beats 21.7% · rank #19

5Y return

+6.33%

Beats 18.2% · rank #19

Sharpe

—

Sortino

—

Rolling returns

Return for every possible 1Y holding period, not just today’s

Average

+6.4%

Median

+7.0%

Best

+7.6%

Worst

+3.3%

Positive periods

100.0%

52 overlapping 1Y windows, sampled monthly across the fund’s history.

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

₹7.10L

Absolute

+18.29%

XIRR

+6.87%

Value vs. invested

60 monthly installments of ₹10,000 into ITI 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	+4.15%
2025	+6.98%
2024	+7.49%
2023	+7.18%
2022	+4.65%
2021part	+2.28%

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

1,282

Expense ratio

AUM

Portfolio turnover

Exit load

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


ITI Ultra Short Term FundThis fund ITI	★★★★☆	+6.41%	+7.10%	+6.33%	—	0.21%	₹167.08Cr
Nippon India Ultra Short Duration Fund Nippon India	★★★★☆	+6.86%	+7.57%	+6.93%	—	0.34%	₹10,923Cr
Tata Ultra Short Term Fund Tata	★★★☆☆	+6.85%	+7.50%	+6.71%	—	0.33%	₹5,343Cr
Aditya Birla Sun Life Savings Fund Aditya Birla Sun Life	★★★★☆	+6.52%	+7.49%	+6.70%	—	0.95%	₹19,721Cr
Axis Ultra Short Duration Fund Axis	★★★☆☆	+6.65%	+7.44%	+6.71%	—	0.36%	₹5,612Cr
DSP Ultra Short Fund DSP	★★★☆☆	+6.60%	+7.42%	+6.59%	—	0.30%	₹4,353Cr

Fund size over time

Quarterly average AUM · AMFI

₹167.08Cr

April - June 2026

-16%

since January - March 2026

Down +16% from its peak of ₹198.58Cr 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.

ITI 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 Debt funds

Debt funds lend money to governments and companies and earn interest. They're generally steadier than equity funds; their risk comes from interest-rate moves and, for some, the creditworthiness of borrowers.

Frequently asked questions

What is the NAV of ITI Ultra Short Term Fund?

As of 21 Aug 2026, the NAV of ITI Ultra Short Term Fund is ₹1,374.49 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has ITI Ultra Short Term Fund delivered?

ITI Ultra Short Term Fund has returned +6.41% over 1 year, +7.10% per year over 3 years, +6.33% per year over 5 years and +6.19% 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 ITI Ultra Short Term Fund?

ITI Ultra Short Term Fund charges an expense ratio of 0.21% 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 ITI Ultra Short Term Fund?

Its largest holdings are BANK OF BARODA CD 05MAR27 (8.8%), 91 Days Tbill (MD 17/09/2026) (7.8%), ICICI SECURITIES LIMITED 91D CP 03SEP26 (7.1%), REC Ltd SR-147 Bonds 7.95 12/03/2027 (6.6%) and NATIONAL HOUSING BANK 7.40 BD 16JL26 FVRS1LAC (6.5%). Holdings are disclosed monthly and change over time.

How risky is ITI Ultra Short Term Fund?

It is rated low on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 0.3% 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 ITI Ultra Short Term Fund?

ITI Ultra Short Term Fund is benchmarked against the CRISIL Ultra Short Duration Debt A-I Index. Its alpha and beta on this page are measured against that index.

Who manages ITI Ultra Short Term Fund?

ITI Ultra Short Term Fund is managed by Laukik Bagwe at ITI.

How is ITI Ultra Short Term Fund taxed?

ITI 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.