Mirae Asset Ultra Short-Term Fund
Mirae Asset Mutual Fund · Ultra Short Duration · Direct plan, growth option
NAV (₹), 1 Oct 2026
1,435.4057
1-day change
0.06%
1Y return
6.7%
3Y CAGR
7.4%
5Y CAGR
6.7%
Max drawdown, 5Y
−0.2%
NAV history month-end NAV, ₹ · 8 Oct 2020 to 1 Oct 2026
Returns vs Ultra Short Duration median (26 schemes)
| Period | Scheme | Category median |
|---|---|---|
| 1 month | 0.6% | 0.5% |
| 3 months | 1.5% | 1.6% |
| 6 months | 3.8% | 3.6% |
| Year to date | 5.1% | 5.0% |
| 1 year | 6.7% | 6.5% |
| 3 years (CAGR) | 7.4% | 7.3% |
| 5 years (CAGR) | 6.7% | 6.6% |
| 7 years (CAGR) | n/a | 6.2% |
| 10 years (CAGR) | n/a | 6.6% |
| Since first NAV (CAGR) | 6.2% | – |
Rolling returns every business-day start date
| Measure | Scheme | Category median |
|---|---|---|
| 1Y rolling median | 7.0% | 7.1% |
| 3Y rolling median | 7.1% | 6.9% |
| 3Y rolling worst | 5.0% | 4.8% |
| 3Y periods positive | 100% | 100% |
| 3Y periods ahead of benchmark | n/a | n/a |
| 5Y rolling median | 6.4% | 6.2% |
| 5Y rolling worst | 6.1% | 5.8% |
| 5Y periods ahead of benchmark | n/a | n/a |
Benchmark: none available in MFIC's free data for this category.
Risk 36 months, monthly returns, Rf 6.5%
| Measure | Scheme | Category median |
|---|---|---|
| Standard deviation (ann.) | 0.6% | 0.5% |
| Sharpe ratio | 1.31 | 1.06 |
| Sortino ratio | 2.15 | 1.65 |
| Beta | n/a | n/a |
| Alpha (ann.) | n/a | n/a |
| Upside capture | n/a | n/a |
| Downside capture | n/a | n/a |
Drawdowns peak-to-trough falls in NAV
| Measure | Scheme | Category median |
|---|---|---|
| Maximum drawdown, full history | −0.2% | −0.9% |
| Maximum drawdown, last 10Y | n/a | −1.1% |
| Maximum drawdown, last 5Y | −0.2% | −0.2% |
| Current drawdown | 0.0% | 0.0% |
| Recovery time of worst fall | n/a | – |
Longer histories include more crises, so compare the 5Y and 10Y figures across schemes of different ages.
Direct or Regular for this scheme?
The Regular plan's expense ratio is 0.68% a year and the Direct plan's 0.22%, a gap of 0.46%; over the last 3 years the Direct plan returned 0.28 percentage points a year more. On a ₹25,000 monthly SIP for 20 years (illustration at 12% a year before costs) the gap adds up to about ₹12,05,981.
With the Regular plan, that cost pays a distributor to help you plan, choose and review funds, and stay invested when markets fall. Whether it is worth it depends on how much of that you will do yourself.
TER: AMFI TER disclosure. Returns: AMFI NAVs. Illustration, not a guaranteed saving or return.
Recent disclosure changes last 120 days, as disclosed via AMFI
- 1 Oct 2026: TER reduced from 0.23% to 0.22% (AMFI TER disclosure)
Fund managers and scheme facts Scheme Summary Document via AMFI
| Fund manager | Role | Managing since |
|---|---|---|
| Basant Bafna | Primary | 16 Jan 2023 |
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
Stated asset allocation: Debt and Money market instruments such that the Macaulay duration of the portfolio is between 3 months to 6 months: upto 100%
Benchmark (tier 1): NIFTY Ultra Short Duration Debt Index A-I
Minimum application: ₹5,000
Allotment date: 7 Oct 2020
Documents: Scheme Information Document · Scheme Summary Document. Read the scheme documents before investing.
Cost, size and riskometer as disclosed to AMFI
| Measure | Scheme | Category median |
|---|---|---|
| Expense ratio (TER), Direct plan | 0.22% | 0.31% |
| AUM, whole scheme (₹ crore) | 1,808 | 1,645 |
| Riskometer | Low to Moderate | – |
TER: AMFI, TER of MF Schemes. AUM and riskometer: AMFI, Fund Performance, 30 Sep 2026.
Official benchmark and category consistency
| Measure | Scheme | Benchmark / category |
|---|---|---|
| Return, 1 year (AMFI) | 6.7% | 6.7% TRI |
| Return, 3 years (AMFI) | 7.4% | 7.2% TRI |
| Return, 5 years (AMFI) | 6.7% | 6.6% TRI |
| Month-ends above category median (3Y CAGR) | 92% | 55% median |
| Month-ends in category top quartile (3Y) | 42% | 16% median |
Official benchmark: NIFTY Ultra Short Duration Debt Index A-I (total return index, as published by AMFI). Category consistency: last 10 years of month-ends, Ultra Short Duration Direct plans; how it is calculated.
Calendar-year returns NAV change from 31 Dec to 31 Dec
| Year | Scheme | Benchmark | Difference |
|---|---|---|---|
| 2026 YTD | 5.1% | n/a | – |
| 2025 | 7.4% | n/a | – |
| 2024 | 7.9% | n/a | – |
| 2023 | 7.3% | n/a | – |
| 2022 | 4.9% | n/a | – |
| 2021 | 3.7% | n/a | – |
No free benchmark proxy for this category. The first year starts from the first 31 December in the scheme's history.
Monthly SIP of ₹10,000 first business day of each month, ending 1 Oct 2026
| Period | Invested | Value | XIRR |
|---|---|---|---|
| 1 year | ₹1,20,000 | ₹1,24,484 | 7.0% |
| 3 years | ₹3,60,000 | ₹4,01,524 | 7.2% |
| 5 years | ₹6,00,000 | ₹7,19,360 | 7.2% |
Uses this plan's NAVs; ignores stamp duty, exit loads and taxes. One historical path only — the interactive SIP analyzer shows outcomes across every start date.
Scheme facts
Category: Ultra Short Duration
Plan / option: Direct · Growth
AMFI scheme code: 148529
ISIN: INF769K01GK6
First NAV in MFIC data: 8 Oct 2020
History: 6.0 years
Portfolio holdings: see the scheme's monthly portfolio disclosure on the fund house website
Schemes that behaved similarly correlation of monthly returns, last 5 years
| Scheme | Category | Correlation | 3Y CAGR |
|---|---|---|---|
| Sundaram Ultra Short Term Fund (Formerly Known as Sundaram Ultra Short Duration Fund) | Ultra Short Duration | 0.99 | 7.3% |
| Tata Ultra Short Term Fund | Ultra Short Duration | 0.99 | 7.5% |
| UTI Ultra Short Term Fund | Ultra Short Duration | 0.99 | 7.3% |
| Canara Robeco Ultra Short Term Fund | Ultra Short Duration | 0.99 | 7.1% |
| PGIM India Ultra Short Term Fund | Ultra Short Duration | 0.99 | 7.1% |
| Invesco India Ultra Short Term Fund | Ultra Short Duration | 0.99 | 7.4% |
Questions about Mirae Asset Ultra Short-Term Fund
- What is the latest NAV of Mirae Asset Ultra Short-Term Fund?
- The NAV of the Direct plan (growth option) was ₹1,435.4057 on 1 Oct 2026, as published by AMFI.
- Which category is Mirae Asset Ultra Short-Term Fund in?
- It is classified as Ultra Short Duration in AMFI's daily NAV file. MFIC compares it with 26 Ultra Short Duration schemes (Direct plans).
- What returns has Mirae Asset Ultra Short-Term Fund delivered?
- Over one year the NAV changed by 6.7%. The 3-year CAGR is 7.4% (category median 7.3%) and the 5-year CAGR is 6.7% (category median 6.6%). Returns are after expenses and before tax. Past performance may or may not be sustained in future.
- How consistent have its 3-year returns been?
- Measuring a 3-year CAGR from every business day in its history, the median was 7.1%, the lowest was 5.0%, and 100% of 3-year periods ended with a gain.
- What was the largest fall in Mirae Asset Ultra Short-Term Fund's NAV?
- The largest peak-to-trough fall in its available history was 0.2%; within the last five years it was 0.2% (category median 0.2%).
- How volatile is Mirae Asset Ultra Short-Term Fund?
- Its annualised standard deviation of monthly returns over the last 36 months is 0.6%, which is above the Ultra Short Duration category median of 0.5%.
- What would a monthly SIP in Mirae Asset Ultra Short-Term Fund have grown to?
- A SIP of ₹10,000 on the first business day of each month for the last 5 years (60 instalments, ₹6,00,000 invested) would have been worth about ₹7,19,360 on 1 Oct 2026, an annualised return (XIRR) of 7.2%. This uses the Direct plan's NAVs, ignores taxes and exit loads, and past performance may or may not be sustained in future.
- What is the expense ratio (TER) of Mirae Asset Ultra Short-Term Fund?
- The total expense ratio of the Direct plan is 0.22% a year, as disclosed to AMFI (median of Ultra Short Duration Direct plans: 0.31%). It is already deducted from the NAV, so every return shown is after expenses.
- How large is Mirae Asset Ultra Short-Term Fund?
- Assets under management of the whole scheme were ₹1,808 crore on 30 Sep 2026, as published by AMFI.
- What is the riskometer level of Mirae Asset Ultra Short-Term Fund?
- AMFI lists the scheme's riskometer as “Low to Moderate”, and its benchmark's as “Low to Moderate”. The riskometer is a label of potential risk set under SEBI rules, not a forecast.
- What is the benchmark of Mirae Asset Ultra Short-Term Fund and how has it compared?
- Its official benchmark is the NIFTY Ultra Short Duration Debt Index A-I. Over 3 years AMFI reports a return of 7.4% for this plan against 7.2% for the benchmark total return index; over 5 years 6.7% against 6.6%. Past performance does not indicate future results.
- How often has Mirae Asset Ultra Short-Term Fund beaten its category?
- At 92% of the 36 month-ends compared over the last 10 years, its 3-year return was above the median of Ultra Short Duration schemes (Direct plans); it was in the top quarter at 42% of them. A typical scheme would show about 50%.
- Who manages Mirae Asset Ultra Short-Term Fund?
- According to its Scheme Summary Document, Mirae Asset Ultra Short-Term Fund is managed by Basant Bafna (since 16 Jan 2023).
- What is the minimum investment in Mirae Asset Ultra Short-Term Fund?
- The minimum application amount is ₹5,000. SIP details: 1000.
- What is the difference between the Direct and Regular plans?
- Both plans hold the same portfolio; the Regular plan includes distribution costs in its expense ratio. Over one year the Direct plan's NAV changed by 6.7% and the Regular plan's by 6.4%. The Regular plan includes the services of a distributor.
Reviewing your own mutual fund portfolio?
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Data & disclosure. Source: AMFI daily NAV file and historical NAVs via mfapi.in; calculations by MFIC, as of 1 Oct 2026. Category medians use Direct plans in the same AMFI category. Mutual fund investments are subject to market risks; read all scheme-related documents carefully. Past performance may or may not be sustained in future. This page is for research and education only and is not investment advice or a recommendation to buy, sell or hold any scheme. Integrato Financial Services Pvt. Ltd. is an AMFI-registered Mutual Fund Distributor (ARN-173155). Methodology.