DebtUltra Short Duration FundRegularIDCWLow

Franklin India Ultra Short Term Fund

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

As of 01 Oct 2026, the NAV of Franklin India Ultra Short Term Fund is ₹10.66 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has Franklin India Ultra Short Term Fund delivered?

Franklin India Ultra Short Term Fund has returned +1.06% over 1 year and +3.13% 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.

Q: What is the expense ratio of Franklin India Ultra Short Term Fund?

Franklin India Ultra Short Term Fund charges an expense ratio of 0.71% 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 Franklin India Ultra Short Term Fund?

Franklin India Ultra Short Term Fund's largest holdings are 7.70% Sundaram Home Finance Ltd (26-Mar-2027) (9.2%), 7.23% Indian Railway Finance Corporation Ltd (15-Oct-2026) (9.1%), 7.59% National Housing Bank (08-Sep-2027) (9.0%), 6.99% Sundaram Finance Ltd (28-May-2027) (9.0%) and Small Industries Development Bank of India (13-Oct-2026) (8.8%). Holdings are disclosed monthly and change over time.

Q: How risky is Franklin India Ultra Short Term Fund?

Franklin India Ultra Short Term Fund is rated low on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 2.1% and its worst peak-to-trough fall in our sample was -1.2%. 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 Franklin India Ultra Short Term Fund?

Franklin India 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 Franklin India Ultra Short Term Fund?

Franklin India Ultra Short Term Fund is managed by Rohan Maru, Pallab Roy and Rahul Goswami at Franklin Templeton.

Q: How is Franklin India Ultra Short Term Fund taxed?

Franklin India 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.

Franklin Templeton Mutual Fund · Best Ultra Short Duration Mutual Funds

NAV

₹10.66

+0.04% 1D

as of 01 Oct 2026

This is the Regular plan of Franklin India Ultra Short Term Fund — bought through a distributor, whose commission is paid out of its expense ratio. Income is distributed, which is why this NAV sits below the growth plan of the same fund.

Compare SIP calculator

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

NAV history

+1.08%CAGR

52-week rangePrev NAV ₹10.66

Latest ₹10.66

Low ₹10.5550th percentile of its 52-week rangeHigh ₹10.78

Key Metrics

Annual fee charged by the fund, already deducted from NAV

0.71%

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

Regular · 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

₹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.

29 Aug 2024

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

Definitions

Absolute return over the last 1 month (not annualized)

-0.76%

Absolute return over the last 3 months (not annualized)

+0.15%

Absolute return over the last 6 months (not annualized)

+0.69%

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

+0.83%

Annualized returns (≥1Y — CAGR)

Definitions

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

+1.06%

3-year annualized return (CAGR)

—

5-year annualized return (CAGR)

—

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.

+3.13%

Advanced metrics — risk

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

2.05%

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

-1.24%

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	-0.76%	—	—
3M abs	+0.15%	—	—
6M abs	+0.69%	—	—
1Y CAGR	+1.06%	—	—
3Y CAGR	—	—	—
5Y CAGR	—	—	—

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

₹1.20L

Current value

₹1.20L

Absolute

+0.15%

XIRR

+0.32%

Value vs. invested

ValueInvested

12 monthly installments of ₹10,000 into Franklin India 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	+0.83%
2025	+3.34%
2024part	+2.34%

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.

History points

508

Expense ratio

0.71%

YTM (from holdings)

7.12%

Average maturity

0.65 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


Franklin India Ultra Short Term FundThis fund Franklin Templeton · Regular · IDCW	—	+1.06%	—	—	—	0.71%	—
Mirae Asset Ultra Short-Term Fund Mirae Asset · Regular · IDCW	—	+6.41%	+7.15%	+6.47%	—	0.68%	—
Bandhan Ultra Short Term Fund Bandhan · Regular · Periodic IDCW	—	+6.29%	+6.97%	+6.30%	—	—	—
SBI Ultra Short Term Fund SBI · Regular · IDCW	—	+6.21%	+6.93%	+6.27%	—	0.57%	—
UTI Ultra Short Term Fund UTI · Regular · Annual IDCW	—	+5.98%	+6.68%	+5.31%	—	0.99%	—
UTI Ultra Short Term Fund UTI · Regular · Flexi IDCW	—	+5.98%	+6.68%	+5.42%	—	—	—

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Debt94.03%
Cash & Equivalents5.97%

which companies this fund invests in

As on 31 Aug 2026 · AMC disclosure

Small Industries Development Bank of India (13-Oct-2026)

8.82%

National Bank For Agriculture & Rural Development (28-Jan-2027)

8.64%

HDFC Bank Ltd (09-Mar-2027)

8.58%

Mahindra & Mahindra Financial Services Ltd (18-Feb-2027)

5.15%

Credila Financial Services Ltd (01-Mar-2027)

3.41%

Piramal Finance Ltd (30-Oct-2026)

1.76%

Corporate Debt Market Development Fund Class A2

0.30%

AMC Profile

Franklin Templeton Mutual Fund is the Indian arm of Franklin Resources, the US manager, and has operated here since 1996. In April 2020 it wound up six of its Indian debt schemes — the largest such closure the industry has seen — and returned the money to unitholders over the following years.

Launched

18 Feb 1996

Total AUM

₹1,26,017Cr+2.0% QoQ

Avg AUM · April - June 2026

Website

franklintempletonindia.com

Fund Managers

RMRohan MaruStart date not disclosed

Role

Vice President Portfolio Manager Fixed Income

Total experience

17.5 years

Education

PGeMBA – Mumbai Education Trust (Finance) Masters in Commerce – RA Podar College, Mumbai University Bachelors in management studies – VES College, Mumbai University.

Experience

Vice President- Portfolio Manager, Fixed Income (based in Mumbai). Prior Assignments (last 10 years): ICICI Prudential Asset Management Company Pvt Ltd (05 November 2012 till 27 September 2024) Vice President- Portfolio Manager, Fixed Income (based in Mumbai).

Funds managed (12)

All schemes Rohan Maru runs →

PRPallab RoyStart date not disclosed

Role

Assistant Vice President and Portfolio Manager Fixed Income

Education

MBA (Fin.), Assistant Vice President M.Com., DBF

Experience

Assistant Vice President and Portfolio Manager - Fixed Income (based at Mumbai). Prior assignments: • Franklin Templeton Asset Management (India) Pvt. Ltd. (June 2001 – till date). Responsible for Liquidity Management & Portfolio MIS – Fixed Income funds. Chief Investment Officer & Managing Director – Fixed Income (based at Mumbai).

Funds managed (8)

All schemes Pallab Roy runs →

RGRahul GoswamiStart date not disclosed

Role

Chief Investment Officer Managing Director Fixed Income

Total experience

30 years

Education

BSc. (Mathematics), MBA (Finance)

Experience

Chief Investment Officer & Managing Director – Fixed Income • ICICI Prudential Asset Management Co. Ltd - Chief Investment Officer- Fixed Income (Sep 2012 - Jul 2023) • Standard Chartered Bank – Head – Primary Dealer (Nov 2009 -Sep 2012) • ICICI Prudential Asset Management Co. Ltd – Sr. Fund Manager (Jul 2004- Nov 2009) Franklin Templeton Asset Management Co. (I) Pvt. Ltd - Asst. Vice President – Fixed Income (Oct 2002- Jul 2004) Vice President & Sr Research Analyst

Funds managed (8)

All schemes Rahul Goswami 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

Rohan Maru Pallab Roy Rahul Goswami

Franklin Templeton 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 Franklin India Ultra Short Term Fund?

As of 01 Oct 2026, the NAV of Franklin India Ultra Short Term Fund is ₹10.66 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has Franklin India Ultra Short Term Fund delivered?

Franklin India Ultra Short Term Fund has returned +1.06% over 1 year and +3.13% 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 Franklin India Ultra Short Term Fund?

Franklin India Ultra Short Term Fund charges an expense ratio of 0.71% 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 Franklin India Ultra Short Term Fund?

Franklin India Ultra Short Term Fund's largest holdings are 7.70% Sundaram Home Finance Ltd (26-Mar-2027) (9.2%), 7.23% Indian Railway Finance Corporation Ltd (15-Oct-2026) (9.1%), 7.59% National Housing Bank (08-Sep-2027) (9.0%), 6.99% Sundaram Finance Ltd (28-May-2027) (9.0%) and Small Industries Development Bank of India (13-Oct-2026) (8.8%). Holdings are disclosed monthly and change over time.

How risky is Franklin India Ultra Short Term Fund?

Franklin India Ultra Short Term Fund is rated low on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 2.1% and its worst peak-to-trough fall in our sample was -1.2%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What is the benchmark of Franklin India Ultra Short Term Fund?

Franklin India 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 Franklin India Ultra Short Term Fund?

Franklin India Ultra Short Term Fund is managed by Rohan Maru, Pallab Roy and Rahul Goswami at Franklin Templeton.

How is Franklin India Ultra Short Term Fund taxed?

Franklin India 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.