AMFI Registered MFD · ARN-130934 · Mutual fund investments are subject to market risks. CA Amit Kumar Jain · +91 93522 44475 Poornima Jain · +91 92525 44475 support@plenitude.co.in हिंदी

Mirae Asset Ultra Short-Term Fund - Direct Plan - Growth

The investment objective of the scheme is to generate regular income and provide liquidity by investing primarily in a portfolio comprising of debt & money market instruments.There is no assurance or guarantee that the investment objective of the scheme will be realized.Read more

AMC websiteScheme documentsNAV history (AMFI)हिंदी में

Mirae Asset Mutual FundUltra Short Duration FundsDirect · GrowthRiskometer: Low to Moderate Risk
NAV · 16 Oct 2026₹1,437.34▼ 0.02% (1 day)
  • Current NAV₹1,437.34
  • Fund Size (AUM)₹ 1,808 Cr.
  • Expense Ratio0.23 %
  • 1Y Return+6.57%
  • 3Y Return (CAGR)+7.38%
  • 5Y Return (CAGR)+6.71%
  • Category Rank (3Y)10 / 43
  • RiskometerLow to Moderate Risk
  • Min. SIP / Lump sum₹ 99 / ₹ 5,000
More figures (11)
  • Since Launch (CAGR)+6.21%
  • Benchmark—
  • Volatility (3Y)0.40 %
  • Sharpe Ratio (3Y)2.21
  • Beta (3Y)—
  • 52-week High / Low₹1,438.15 / ₹1,348.68
  • Max Drawdown-0.2 %
  • Launched7 Oct 2020
  • Lock-inNone
  • Portfolio Turnover—
  • Fund ManagersBasant Bafna

Performance chart

Past performance may or may not be sustained in future.

Quick take

  • Over 5 years it returned 6.7% a year, against category average 6.6% (rank 8 of 39 Ultra Short Duration Funds).
  • Volatility over 3 years was 0.4% a year, with a Sharpe ratio of 2.21.
  • Its biggest fall from a peak was 0.2% (2 May 2022 to 5 May 2022).
  • Across all 3-year periods since launch, yearly returns ranged from 5.0% to 7.6% and were positive 100% of the time.
  • Expense ratio 0.23%, fund size ₹1,808 crore.

Pros

  • Top-quarter returns in its category over 5 years: rank 8 of 39 Ultra Short Duration Funds (6.7% a year against a category average of 6.6%).
  • Every 3-year period since launch gave a positive return (lowest 5.0% a year).
  • Expense ratio of 0.23% is below the category median of 0.34%.
  • Sharpe ratio of 2.21 over 3 years: good return for the volatility taken.

Cons

No standout weaknesses in its record so far.

Pros and cons are generated automatically from the scheme's published figures. They are observations about past data, not a recommendation to invest, switch or redeem.

AI analysis

Plenitude AI reads the figures on this page and explains them in plain language.

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Returns vs benchmark and category

Returns (%)1W1M3M6MYTD1Y2Y3Y5Y7Y10YSince launch
This fund-0.03%+0.45%+1.58%+3.29%+5.24%+6.57%+7.13%+7.38%+6.71%——+6.21%
Category average+0.33%+3.03%+6.17%+7.24%+6.57%
Rank in category7/517/506/4810/438/39
QuartileQ1Q1Q1Q1Q1
Best in category+0.46%+3.42%+6.92%+7.77%+7.01%
Worst in category-0.04%+2.21%+4.00%+6.40%+5.82%

Point-to-point NAV returns as on 16 Oct 2026; over 1 year, yearly compounded (CAGR). Category: Direct Growth plans in Ultra Short Duration Funds, returns as on 17 Oct 2026. Q1 = top quarter by return over that period.

Calendar-year returns

Year2026 YTD20252024202320222021
This fund+5.24%+7.43%+7.94%+7.33%+4.86%+3.69%

January to December each year; the current year is to date.

Month-by-month returns (%)

YearJanFebMarAprMayJunJulAugSepOctNovDecYear
20260.30.60.40.70.31.10.50.50.60.2
20250.60.60.80.80.60.70.60.50.60.50.50.57.4
20240.60.60.70.60.60.60.70.60.70.70.60.67.9
20230.50.50.70.60.70.60.60.60.60.60.60.67.3
20220.30.30.40.30.20.40.40.50.30.50.60.64.8
20210.20.30.40.30.30.30.40.40.20.30.40.33.7
20200.40.3

Change in NAV from the last business day of one month to the last business day of the next. Positive in 72 of 72 months shown (100%). "Year" is shown for complete calendar years.

Risk and consistency

Risk measure3 years5 years
Volatility (standard deviation) ?0.40%0.37%
Sharpe ratio ?2.210.57
Sortino ratio ?4.090.96
Maximum drawdown-0.11%-0.16%

Rolling 3-year returns (yearly)

Lowest+5.04%
Median+7.16%
Highest+7.62%
Positive100% of periods
Above 12% a year0% of periods

Rolling 5-year returns (yearly)

Lowest+6.14%
Median+6.40%
Highest+6.73%
Positive100% of periods
Above 12% a year0% of periods

Every 3- and 5-year period since launch, checked weekly. It shows how consistent returns were, whenever someone invested.

SIP returns: ₹10,000 every month

SIP forInvestedValue todayGainXIRR
1Y₹1,20,000₹1,24,349₹4,349+6.76%
3Y₹3,60,000₹4,00,993₹40,993+7.12%
5Y₹6,00,000₹7,18,641₹1,18,641+7.15%

A ₹10,000 instalment on the same date every month, valued at the latest NAV. XIRR is the yearly return on those dated instalments. Try the SIP calculator.

What your investment would be worth

Worked out from the scheme's weekly NAVs (instalments on the first NAV of each month), so it can differ slightly from your statement. Past performance may or may not be sustained in future. Plan a future SIP.

Compare with all Ultra Short Duration Funds (51)

S.No.Scheme (Direct plans, Growth)6M %1Y %3Y % CAGR5Y % CAGRExpense ratio %Fund size ₹ Cr
1.HSBC Ultra Short to Short Term FundHSBC Mutual Fund2.936.017.77—0.40847
2.Nippon India Ultra Short Term FundNippon India Mutual Fund3.366.877.547.010.3411,551
3.Tata Ultra Short Term FundTata Mutual Fund3.426.927.486.810.335,404
4.Aditya Birla Sun Life Ultra Short Term FundAditya Birla Sun Life Mutual Fund3.286.517.466.800.3216,279
5.Axis Ultra Short Term FundAxis Mutual Fund3.286.657.416.810.364,996
6.Axis Ultra Short to Short Term FundAxis Mutual Fund2.996.107.406.700.374,563
7.Kotak Ultra Short to Short Term FundKotak Mahindra Mutual Fund2.895.937.406.710.4012,566
8.Nippon India Ultra Short to Short Term FundNippon India Mutual Fund3.076.127.406.750.407,096
9.Mirae Asset Ultra Short to Short Term FundMirae Asset Mutual Fund3.006.047.396.630.222,290
10.DSP Ultra Short Term FundDSP Mutual Fund3.186.557.386.700.304,425
11.Mahindra Manulife Ultra Short to Short Term FundMahindra Manulife Mutual Fund2.976.077.386.680.34497
12.Mirae Asset Ultra Short-Term FundMirae Asset Mutual Fund3.276.567.386.720.231,808
13.ICICI Prudential Ultra Short term FundICICI Prudential Mutual Fund3.216.527.376.790.4115,236
14.ICICI Prudential Ultra Short to Short Term FundICICI Prudential Mutual Fund2.886.047.366.650.4218,781
15.HDFC Ultra Short to Short Term FundHDFC Mutual Fund2.825.907.346.720.4616,513
16.LIC MF Ultra Short to Short Term fundLIC Mutual Fund3.086.177.316.550.241,900
17.Invesco India Ultra Short Term FundInvesco Mutual Fund3.286.647.306.660.271,525
18.Aditya Birla Sun Life Ultra short to short term FundAditya Birla Sun Life Mutual Fund2.835.827.296.760.429,185
19.BARODA BNP PARIBAS ULTRA SHORT TO SHORT TERM FUNDBaroda BNP Paribas Mutual Fund2.996.117.29—0.28330
20.UTI Ultra Short Term FundUTI Mutual Fund3.266.547.296.650.403,017
21.Mahindra Manulife Ultra Short Term FundMahindra Manulife Mutual Fund3.196.527.256.630.31205
22.Sundaram Ultra Short Term Fund (Formerly Known as Sundaram Ultra Short Duration Fund)Sundaram Mutual Fund3.236.457.24—0.192,108
23.Tata Ultra Short to Short Term FundTata Mutual Fund3.066.117.246.520.272,727
24.LIC MF Ultra Short Term FundLIC Mutual Fund3.386.667.226.350.251,420
25.Sundaram Ultra Short to Short Term Fund (Formerly Known as Sundaram Low Duration Fund)Sundaram Mutual Fund2.895.767.22—0.40381
26.Baroda BNP Paribas Ultra Short Term FundBaroda BNP Paribas Mutual Fund3.216.487.196.680.28596
27.HDFC Ultra Short Term FundHDFC Mutual Fund3.126.287.196.590.3915,675
28.JM Ultra Short to Short Term FundJM Financial Mutual Fund2.915.907.196.500.40236
29.UTI Ultra Short to Short Term FundUTI Mutual Fund2.905.887.196.520.332,604
30.Kotak Ultra Short Term FundKotak Mahindra Mutual Fund3.116.367.176.610.3615,261
31.SBI Ultra Short to Short Term FundSBI Mutual Fund2.855.757.176.530.4410,942
32.Canara Robeco Ultra Short to Short Term FundCanara Robeco Mutual Fund2.945.967.156.450.211,113
33.SBI ULTRA SHORT TERM FUNDSBI Mutual Fund3.116.367.146.500.3511,237
34.BANDHAN ULTRA SHORT TERM FUNDBandhan Mutual Fund3.136.387.126.490.304,098
35.BANDHAN ULTRA SHORT TO SHORT TERM FUNDBandhan Mutual Fund2.885.857.086.390.376,342
36.Invesco India Ultra Short to Short Term FundInvesco Mutual Fund2.785.757.086.400.351,714
37.DSP Ultra Short to Short Term FundDSP Mutual Fund2.735.637.056.430.314,455
38.ITI Ultra Short Term FundITI Mutual Fund3.056.357.046.430.21167
39.PGIM India Ultra Short Term FundPGIM India Mutual Fund3.136.197.036.500.34232
40.Canara Robeco Ultra Short Term FundCanara Robeco Mutual Fund3.156.417.026.350.36529
41.WhiteOak Capital Ultra Short Term FundWhiteOak Capital Mutual Fund3.126.296.976.360.27549
42.BANK OF INDIA ULTRA SHORT TERM FUNDBank of India Mutual Fund3.046.356.876.250.45196
43.Motilal Oswal Ultra Short Term FundMotilal Oswal Mutual Fund3.006.106.405.820.25534
44.Bajaj Finserv Ultra Short to Short Term FundBajaj Finserv Mutual Fund2.91—————
45.Edelweiss Ultra Short Term FundEdelweiss Mutual Fund——————
46.Edelweiss Ultra Short to Short Term FundEdelweiss Mutual Fund2.966.01————
47.Franklin India Ultra Short Term FundFranklin Templeton Mutual Fund3.156.42——0.29300
48.Franklin India Ultra Short to Short Term FundFranklin Templeton Mutual Fund2.926.24————
49.JioBlackRock Ultra Short to Short Term FundJio BlackRock Mutual Fund2.66—————
50.Union Short Term FundUnion Mutual Fund2.214.00————
51.Union Ultra Short to Short Term FundUnion Mutual Fund2.665.48————
Median: 51 schemes3.056.187.246.610.342,447

Detailed comparison with another fund About Ultra Short Duration Funds

Sorted by 3-year return; tap a heading to sort. Expense ratio and fund size are from published scheme data ("—" = not available yet). Sorting by past returns is a way to explore data, not a ranking of which fund to choose.

Scheme details

Investment objective
The investment objective of the scheme is to generate regular income and provide liquidity by investing primarily in a portfolio comprising of debt & money market instruments.There is no assurance or guarantee that the investment objective of the scheme will be realized.
Fund manager
Basant Bafna
Fund house
Mirae Asset Mutual Fund
Category
Ultra Short Duration Funds · Debt
Plan / option
Direct · Growth
AMFI scheme code
148529
ISIN
INF769K01GK6
Scheme documents
SID, KIM and factsheets (fund house website) · exit load and full portfolio are in these documents.

About Ultra Short Duration Funds

Ultra Short Duration Funds hold debt with a Macaulay duration of 3 to 6 months.

Generally used by money needed in about 3–6 months.

Other plans of this scheme

Tax on your gains

Tax treatment depends on what the fund holds: equity-oriented if at least 65% is in Indian shares (directly or through equity funds), debt-oriented if over 65% is in debt, otherwise the "other" rules.

  • Dividends (IDCW option) are added to your income and taxed at your slab rate; the fund deducts 10% TDS when they exceed ₹10,000 in a year.
  • Switching from one scheme or plan to another counts as selling and buying.
  • Surcharge and 4% health and education cess apply on top of these rates.
Fund typeShort-termLong-term
Equity-oriented20% (up to 12 months)12.5% above ₹1.25 lakh
Debt-oriented (bought from Apr 2023)Slab rateSlab rate
Gold, international, other hybridSlab rate12.5% (after 12 or 24 months)

Exit load, if any, is set out in the scheme's KIM (scheme documents). Tax rules change from time to time and depend on your situation; please confirm with your tax adviser. This is general information, not tax advice.

Fund manager

BB

From the scheme details published by the fund house. "Also manages" lists schemes we have on record and grows as more schemes are viewed.

Latest news: Mirae Asset Mutual Fund

Headlines from Google News about this fund house and its schemes over the last 30 days. Lists of "best funds" and buy or sell calls are left out. Links open the publisher's site.

Questions about this scheme

What is the NAV of Mirae Asset Ultra Short-Term Fund today?
The latest NAV of Mirae Asset Ultra Short-Term Fund - Direct Plan - Growth is ₹1,437.34 as on 16 Oct 2026, as published by AMFI. NAVs are updated every business day evening.
What returns has Mirae Asset Ultra Short-Term Fund given?
As on 16 Oct 2026: 1 year +6.57%, 3 years +7.38% a year, 5 years +6.71% a year. Past returns may or may not be sustained in future.
What is the expense ratio of Mirae Asset Ultra Short-Term Fund?
The expense ratio of the Direct plan is 0.23% (as of Aug 2026). It is already deducted in the NAV.
How risky is this fund?
Its riskometer level is Low to Moderate Risk. Over 3 years its volatility was 0.4% a year and its biggest fall from a peak was 0.1%. Mutual fund investments are subject to market risks.
What is the difference between Direct and Regular plans?
Both plans hold the same portfolio. A Direct plan is bought straight from the fund house and has a lower expense ratio. A Regular plan is bought through a distributor, who is paid a commission from the expense ratio, so its NAV grows slightly slower.
What are Ultra Short Duration Funds?
Ultra Short Duration Funds hold debt with a Macaulay duration of 3 to 6 months.
How are gains from Mirae Asset Ultra Short-Term Fund taxed?
It depends on how much the fund holds in Indian shares; see the tax section on this page and confirm with your tax adviser.
Important. NAVs are from AMFI and mfapi.in; benchmark closes from Yahoo Finance; expense ratio, fund size and managers from published scheme data (Kuvera). Figures may be delayed; confirm with the fund house before transacting. Ranks and quartiles are positions by past return and are not a rating or recommendation. Mutual fund investments are subject to market risks; read all scheme-related documents carefully before investing. Plenitude Connect Private Limited is an AMFI-registered Mutual Fund Distributor (ARN-130934) and earns commission from fund houses on Regular plans (see Disclosures).
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