MonitorDirect · GrowthWatch before adding
HDFC Ultra Short Term Fund
HDFC Mutual FundDebt Scheme - Ultra Short Duration Fund8.1 years
The scheme seeks to generate income / capital appreciation through investment in debt securities and money market instruments.
- NAV
- 16.7894
- 29 Oct 2026
- 1Y
- +6.1%
- Trailing CAGR
- AUM
- ₹15,674.64 Cr
- 30 Sept 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
Watch before adding
Recent evidence is mixed. Compare peers before increasing exposure.
In three lines
Fits if · Risk-adjusted return sits above the documented risk-free proxy.
Fits if · Peak-to-trough drawdown has stayed shallower than 15%.
Prefer peers if · Prefer Tata Ultra Short Term Fund if you want a same-category peer with stronger evidence.
Buy checklist
History depth
Pass
8.1 years of path to read.
Engine status
Watch
Recent evidence is mixed. Compare peers before increasing exposure.
Expense ratio
Pass
0.39% TER (Direct). Lower cost compounds on long SIPs.
Drawdown vs peers
Pass
Peak-to-trough -1.0%. Ask whether you can hold through a similar fall.
Vs category
Fail
38% of rolling 3Y windows beat the category median, same plan and option.
Manager tenure
Pass
Praveen Jain · 2.2 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 ≈ 31.7% of the portfolio.
Browse category
Same-category peers are preloaded into compare when available.
Before you buy or SIP
Behaviour and wrappers - the usual India MF failure modes - not a buy instruction.
SIP discipline
Monitor is recent mixed evidence - keep the SIP unless the buying brief says prefer peers, then swap with intent.
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+6.1%
- 3Y+7.1%
- 5Y+6.6%
- 10Yn/a
- SI+6.6%
SIP XIRR
Equal monthly instalments to latest NAV
- 1Y+6.2%
- 3Y+6.8%
- 5Y+6.9%
- 10Yn/a
- Since inception
- +6.6%
- Calendar-day CAGR
- Excess 1Y
- -0.2%
- Category median, same plan and option
- 3Y win rate
- +38%
- Windows beating the median
- 3Y percentile
- 33
- Vs comparable share classes
- SIP 3Y XIRR
- +6.8%
- Simulated monthly SIP
- Worst rolling 3Y
- +5.0%
- 1235 daily-ending windows
- Median rolling 3Y
- +6.1%
- Calendar-day CAGR
- Positive rolling 5Y
- +100%
- 750 daily-ending windows
Drawdown
Peak to trough from a running NAV high, with the path and recovery episodes.
- Max drawdown
- -1.0%
- 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
- 3 days
- 73 recovered episodes
- Longest recovery
- 21 days
- Trough to prior peak
11 Mar 2020 – 27 Mar 2020
Trough 24 Mar 2020 · recovered in 3 days
-1.0%
2 May 2022 – 27 May 2022
Trough 6 May 2022 · recovered in 21 days
-0.2%
23 Apr 2020 – 5 May 2020
Trough 28 Apr 2020 · recovered in 7 days
-0.2%
7 Apr 2020 – 17 Apr 2020
Trough 9 Apr 2020 · recovered in 8 days
-0.1%
Dimensions
0–100 reads of named metrics. The mean is unweighted and only uses dimensions with data.
Returns
33
Vs category
49
Consistency
34
Risk-adjusted
88
Drawdown
98
Mean
60
Decision
Quantitative engine reasons behind the buying stance. An explanation can only restate what is already here.
Monitor
Buying stance
Watch before adding
Recent evidence is mixed. Compare peers before increasing exposure.
Why this status
No status reasons yet. History is still thin.
Supporting reads
- Risk-adjusted return sits above the documented risk-free proxy.
- Peak-to-trough drawdown has stayed shallower than 15%.
Portfolio
30 Sept 2026 · 130 holdings · top 10 are 31.7%.
- Top 5
- 20.3%
- Top 10
- 31.7%
- Largest holding
- 8.7%
- Effective holdings
- 49.6
NATIONAL BANK FOR FINANCING INFRASTRUCTURE AND DEVELOPMENT CD 12MAR27
Financial
8.7%
Reserve Bank of India T-Bills 182-D
Financial
3.8%
YES BANK LIMITED CD 12FEB27
Financial
3.1%
NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT SR 24E 7.80 BD 15MR27 FVRS1LAC
Financial
2.4%
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA CD 11AUG27
Financial
2.4%
What changed
DECISION
Status moved from HEALTHY to MONITOR.
8 Sept 2026
Worth investigating
Same-category peers with enough history to inspect beside this fund - including tradeoffs.
Tata Ultra Short Term Fund
Tata Mutual Fund
- 1Y
- +6.8%
- 3Y
- +7.4%
- Vol
- 0.5%
- Max DD
- -0.7%
- Sharpe
- 1.23
- 3Y win
- +67%
- Lower volatility
- Shallower drawdown
- Higher win rate vs category
- Lower TER
- Higher trailing returns
Franklin India Ultra Short Bond Fund (no. of segregated portfolio-1)
Franklin Templeton Mutual Fund
- 1Y
- +13.7%
- 3Y
- +8.7%
- Vol
- 1.6%
- Max DD
- -4.4%
- Sharpe
- 1.77
- 3Y win
- +100%
- Higher win rate vs category
- Higher trailing returns
Caveat: Higher volatility · Deeper drawdown
ICICI Prudential Ultra Short term Fund
ICICI Prudential Mutual Fund
- 1Y
- +6.4%
- 3Y
- +7.3%
- Vol
- 1.7%
- Max DD
- -7.5%
- Sharpe
- 1.17
- 3Y win
- +100%
- Higher win rate vs category
- Higher trailing returns
Caveat: Higher volatility · Deeper drawdown · Higher TER
Kotak Treasury Advantage
Kotak Mahindra Mutual Fund
- 1Y
- 0.0%
- 3Y
- 0.0%
- Vol
- 0.4%
- Max DD
- -0.9%
- Sharpe
- -15.62
- 3Y win
- +14%
- Lower volatility
- Shallower drawdown
Caveat: Lower trailing returns
Motilal Oswal Ultra Short Term Fund
Motilal Oswal Mutual Fund
- 1Y
- +6.0%
- 3Y
- +6.4%
- Vol
- 2.6%
- Max DD
- -12.0%
- Sharpe
- -0.33
- 3Y win
- 0%
- Lower TER
Caveat: Higher volatility · Deeper drawdown · Lower trailing returns