MonitorDirect · GrowthWatch before adding
Kotak Ultra Short Term Fund
Kotak Mahindra Mutual FundIncome/Debt Oriented Schemes - Ultra Short Term Fund13.8 years
The scheme seeks to generate returns through investment in debt and money market instruments with a view to reduce the interest rate risk.
- NAV
- 48.7645
- 29 Oct 2026
- 1Y
- +6.3%
- Trailing CAGR
- AUM
- ₹15,261.29 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 · The fund beat the category median in 57% of rolling 1-year windows.
Fits if · Risk-adjusted return sits above the documented risk-free proxy.
Prefer peers if · Prefer Axis Ultra Short Term Fund if you want a same-category peer with stronger evidence.
Buy checklist
History depth
Pass
13.8 years of path to read.
Engine status
Watch
Recent evidence is mixed. Compare peers before increasing exposure.
Expense ratio
Pass
0.36% TER (Direct). Lower cost compounds on long SIPs.
Drawdown vs peers
Pass
Peak-to-trough -0.9%. Ask whether you can hold through a similar fall.
Vs category
Watch
50% of rolling 3Y windows beat the category median, same plan and option.
Manager tenure
Pass
Manu Sharma · 4.0 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 ≈ 28.5% 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+6.3%
- 3Y+7.1%
- 5Y+6.6%
- 10Y+6.7%
- SI+7.4%
SIP XIRR
Equal monthly instalments to latest NAV
- 1Y+6.3%
- 3Y+6.8%
- 5Y+6.9%
- 10Y+6.6%
- Since inception
- +7.4%
- Calendar-day CAGR
- Excess 1Y
- -0.1%
- Category median, same plan and option
- 3Y win rate
- +50%
- Windows beating the median
- 3Y percentile
- 39
- Vs comparable share classes
- SIP 3Y XIRR
- +6.8%
- Simulated monthly SIP
- Worst rolling 3Y
- +4.9%
- 2619 daily-ending windows
- Median rolling 3Y
- +7.4%
- Calendar-day CAGR
- Positive rolling 5Y
- +100%
- 2136 daily-ending windows
Drawdown
Peak to trough from a running NAV high, with the path and recovery episodes.
- Max drawdown
- -0.9%
- Worst peak-to-trough
- Current
- 0.0%
- At peak
- Current spell
- 0 days
- Days below latest peak
- Time below peak
- +8%
- NAV observations
Drawdown
Path not in current snapshots
n/a
- Average recovery
- 3 days
- 128 recovered episodes
- Longest recovery
- 40 days
- Trough to prior peak
11 Mar 2020 – 27 Mar 2020
Trough 24 Mar 2020 · recovered in 3 days
-0.9%
15 Jul 2013 – 2 Sept 2013
Trough 24 Jul 2013 · recovered in 40 days
-0.8%
2 May 2022 – 27 May 2022
Trough 6 May 2022 · recovered in 21 days
-0.3%
23 Apr 2020 – 5 May 2020
Trough 28 Apr 2020 · recovered in 7 days
-0.2%
Dimensions
0–100 reads of named metrics. The mean is unweighted and only uses dimensions with data.
Returns
39
Vs category
49
Consistency
53
Risk-adjusted
100
Drawdown
98
Mean
68
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
- The fund beat the category median in 57% of rolling 1-year windows.
- Risk-adjusted return sits above the documented risk-free proxy.
- Peak-to-trough drawdown has stayed shallower than 15%.
Portfolio
30 Sept 2026 · 112 holdings · top 10 are 28.5%.
- Top 5
- 18.4%
- Top 10
- 28.5%
- Largest holding
- 4.5%
- Effective holdings
- 61.2
AXIS BANK LIMITED CD 14JAN27
Financial
4.5%
BANK OF BARODA CD 05FEB27
Financial
3.8%
NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT SR 24E 7.80 BD 15MR27 FVRS1LAC
Financial
3.8%
GOVERNMENT OF INDIA 37831 182 DAYS TBILL 11FB27 FV RS 100
Financial
3.4%
STATE DEVELOPMENT LOAN 37139 TN 25FB29 6.54 FV RS 100
Unspecified
2.9%
Worth investigating
Same-category peers with enough history to inspect beside this fund - including tradeoffs.
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
- Lower TER
- Higher trailing returns
Mahindra Manulife Ultra Short Term Fund
Mahindra Manulife Mutual Fund
- 1Y
- +6.4%
- 3Y
- +7.2%
- Vol
- 0.5%
- Max DD
- -0.5%
- Sharpe
- 0.80
- 3Y win
- +85%
- Lower volatility
- Shallower drawdown
- Higher win rate vs category
- Lower TER
- Higher trailing returns
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
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
- Higher trailing returns
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
- Higher win rate vs category
- Lower TER
- Higher trailing returns
Caveat: Deeper drawdown