HealthyDirect · GrowthFit for a long SIP
DSP Ultra Short Term Fund
DSP Mutual FundIncome/Debt Oriented Schemes - Ultra Short Term Fund13.8 years
The scheme aims to generate reasonable returns commensurate with low risk and a high degree of liquidity, from a portfolio constituted of money market securities and high quality debt securities.
- NAV
- 4,026.853
- 29 Oct 2026
- 1Y
- +6.4%
- Trailing CAGR
- AUM
- ₹4,599.23 Cr
- 31 Aug 2026
- Volatility
- Low
- 0.6% annualized
Buying brief
Should you add this fund?
Evidence on this desk, framed as a purchase checklist - not SEBI-registered advice.
As of 29 Oct 2026
Stance
Fit for a long SIP
Evidence supports keeping this on a shortlist for a multi-year equity SIP.
In three lines
Fits if · Three-year return is above the category median.
Fits if · Risk-adjusted return sits above the documented risk-free proxy.
Buy checklist
History depth
Pass
13.8 years of path to read.
Engine status
Pass
Evidence supports keeping this on a shortlist for a multi-year equity SIP.
Expense ratio
Pass
0.30% TER (Direct). Lower cost compounds on long SIPs.
Drawdown vs peers
Pass
Peak-to-trough -1.1%. Ask whether you can hold through a similar fall.
Vs category
Fail
27% of rolling 3Y windows beat the category median, same plan and option.
Manager tenure
Watch
Shalini Vasanta · 1.8 years on the scheme.
Exit load
n/a
No exit-load summary on file.
Tax / wrapper
Pass
Direct Growth, no ELSS lock flagged. Equity LTCG rules still apply after one year - not tax advice.
Portfolio concentration
Pass
Top 10 holdings ≈ 24.5% of the portfolio.
Evidence supports a shortlist - confirm with peers before you buy elsewhere.
NAV
Path not in current snapshots
n/a
Returns
Trailing CAGR and simulated monthly SIP XIRR from daily NAV. Category comparison uses the median of comparable share classes in the peer set.
Trailing CAGR
Point-to-point, calendar-day annualized
- 1Y+6.4%
- 3Y+7.3%
- 5Y+6.7%
- 10Y+6.4%
- SI+7.1%
SIP XIRR
Equal monthly instalments to latest NAV
- 1Y+6.5%
- 3Y+7.0%
- 5Y+7.1%
- 10Y+6.4%
- Since inception
- +7.1%
- Calendar-day CAGR
- Excess 1Y
- +0.1%
- Category median, same plan and option
- 3Y win rate
- +27%
- Windows beating the median
- 3Y percentile
- 78
- Vs comparable share classes
- SIP 3Y XIRR
- +7.0%
- Simulated monthly SIP
- Worst rolling 3Y
- +4.5%
- 2614 daily-ending windows
- Median rolling 3Y
- +6.9%
- Calendar-day CAGR
- Positive rolling 5Y
- +100%
- 2129 daily-ending windows
Drawdown
Peak to trough from a running NAV high, with the path and recovery episodes.
- Max drawdown
- -1.1%
- Worst peak-to-trough
- Current
- 0.0%
- At peak
- Current spell
- 0 days
- Days below latest peak
- Time below peak
- +9%
- NAV observations
Drawdown
Path not in current snapshots
n/a
- Average recovery
- 4 days
- 101 recovered episodes
- Longest recovery
- 48 days
- Trough to prior peak
17 Dec 2018 – 4 Feb 2019
Trough 18 Dec 2018 · recovered in 48 days
-1.1%
11 Mar 2020 – 27 Mar 2020
Trough 24 Mar 2020 · recovered in 3 days
-0.8%
7 Sept 2018 – 19 Oct 2018
Trough 17 Sept 2018 · recovered in 32 days
-0.6%
15 Jul 2013 – 5 Aug 2013
Trough 24 Jul 2013 · recovered in 12 days
-0.4%
Dimensions
0–100 reads of named metrics. The mean is unweighted and only uses dimensions with data.
Returns
78
Vs category
50
Consistency
32
Risk-adjusted
100
Drawdown
97
Mean
72
Decision
Quantitative engine reasons behind the buying stance. An explanation can only restate what is already here.
Healthy
Buying stance
Fit for a long SIP
Evidence supports keeping this on a shortlist for a multi-year equity SIP.
Why this status
- No material deterioration, cost shock, or persistent category underperformance in the current evidence set.
Supporting reads
- Three-year return is above the category median.
- Risk-adjusted return sits above the documented risk-free proxy.
- Peak-to-trough drawdown has stayed shallower than 15%.
Portfolio
31 Aug 2026 · 98 holdings · top 10 are 24.5%.
- Top 5
- 14.6%
- Top 10
- 24.5%
- Largest holding
- 4.7%
- Effective holdings
- 68.9
CANARA BANK CD 04MAR27
Financial
4.7%
CENTRAL GOVERNMENT LOAN 30950 GOI 15NV26 5.74 FV RS 100
Entities
2.8%
KOTAK MAHINDRA BANK LIMITED CD 21DEC26
Financial
2.7%
7.74% LIC HSG TR448 NCD 22-10-27**
Financial
2.3%
National Bank For Agriculture and Rural Development (04/02/2027) **
Financial
2.1%
Worth investigating
Same-category peers with enough history to inspect beside this fund - including tradeoffs.
Mirae Asset Ultra Short-Term Fund
Mirae Asset Mutual Fund
- 1Y
- +6.5%
- 3Y
- +7.3%
- Vol
- 0.4%
- Max DD
- -0.2%
- Sharpe
- 0.91
- 3Y win
- +95%
- Lower volatility
- Shallower drawdown
- Higher win rate vs category
- Lower TER
- Higher trailing returns
Axis Ultra Short Term Fund
Axis Mutual Fund
- 1Y
- +6.6%
- 3Y
- +7.4%
- Vol
- 0.5%
- Max DD
- -0.8%
- Sharpe
- 1.63
- 3Y win
- +100%
- Lower volatility
- Shallower drawdown
- Higher win rate vs category
- Higher trailing returns
Caveat: Higher TER
Baroda BNP Paribas Ultra Short Term Fund
Baroda BNP Paribas Mutual Fund
- 1Y
- +6.4%
- 3Y
- +7.1%
- Vol
- 0.5%
- Max DD
- -1.0%
- Sharpe
- 1.16
- 3Y win
- +53%
- Lower volatility
- Shallower drawdown
- Higher win rate vs category
- Lower TER
Caveat: Lower trailing returns
Franklin India Ultra Short Term Fund
Franklin Templeton Mutual Fund
- 1Y
- +6.3%
- 3Y
- n/a
- Vol
- 0.4%
- Max DD
- -0.1%
- Sharpe
- 2.78
- 3Y win
- n/a
- Lower volatility
- Shallower drawdown
- Higher win rate vs category
- Lower TER
Caveat: Lower trailing returns
Sundaram Ultra Short Term Fund (Formerly Known as Sundaram Ultra Short Duration Fund)
Sundaram Mutual Fund
- 1Y
- +6.4%
- 3Y
- +7.2%
- Vol
- 0.4%
- Max DD
- -0.2%
- Sharpe
- 2.51
- 3Y win
- +100%
- Lower volatility
- Shallower drawdown
- Higher win rate vs category
- Lower TER
Caveat: Lower trailing returns