UTI Ultra Short to Short Term Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 10, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
UTI Ultra Short to Short Term Fund Direct Growth Plan is a debt fund with a current NAV of ₹3888.44 as of 09 Sep 2026 and scheme AUM of ₹2,679 Cr. Its 1-year, 3-year and 5-year returns are 6.47%, 7.31% and 7.53%, and the risk category is Balanced Risk.
Our view is that the fund has delivered steady compounding over multi-year periods, while the latest year has been a little softer than its longer horizon. The portfolio mix shows a meaningful share in net current assets, treasury bills and corporate debt, which may suit investors looking for a relatively measured debt allocation rather than a very aggressive return profile.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹3,888.4356 as of 09 Sep 2026 |
| AUM | ₹2,679 Cr |
| Expense Ratio | 0.34% |
| Launch Date | 01 Jan 2013 |
| Min SIP | ₹500 |
| Risk Category | Balanced Risk |
| Benchmark | Nifty 50 |
| Fund Category | Debt |
| Exit Load | No exit load |
| Fund Managers | Anurag Mittal |
The fund is managed by Anurag Mittal.
Source data date: as of 09 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | 0.53% | -4.69% |
| 3M | 1.85% | 0.93% |
| 1Y | 6.47% | -7.16% |
| 3Y | 7.31% | 6% |
| 5Y | 7.53% | 5.87% |
Recent performance is resilient. Over the latest month and three months, the fund stayed positive, which suggests a stable short-term pattern rather than a sharp swing in either direction. The 1-year return is also comfortably positive, and that matters because the benchmark was negative over the same period.
The longer view is even more useful. The 3-year and 5-year returns sit above the benchmark in each case, which tells us the fund has compounded better than the index over medium and longer horizons. That said, the gap is not huge, so we read the fund as a steady performer rather than one that has dramatically outpaced the market.
The time pattern is also important. The series shows periods of weakness and recovery, but the overall direction over three and five years remains upward. In our view, that combination points to controlled movement rather than erratic behaviour, which is consistent with the fund’s debt orientation and Balanced Risk label.
For investors, the key point is that the recent year looks a touch softer than the stronger multi-year trend, but not weak in absolute terms. The benchmark comparison also stays favourable across all the measured horizons, so the fund’s return record looks more dependable than headline-chasing.
Source data date: as of 09 Sep 2026
Should you BUY or HOLD UTI Ultra Short to Short Term?
A fund’s past returns alone don’t tell you whether you should buy it today or continue holding it.
The right decision depends on factors such as your current allocation, purchase price, risk profile, investment horizon and the role this fund plays in your overall portfolio.
Already holding UTI Ultra Short to Short Term? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| UTI Ultra Short to Short Term Fund Direct Growth Plan | 6.47% | 7.31% | 7.53% |
| Franklin India Ultra Short to Short Term Fund Direct Growth Plan | 6.69% | Data not available | Data not available |
| Nippon India Ultra Short to Short Term Fund Direct Growth Plan | 6.66% | 7.52% | 6.75% |
| Nippon India Ultra Short to Short Term Fund(B)-Direct Plan | 6.66% | 7.52% | 6.75% |
| Mahindra Manulife Ultra Short to Short Term Fund Direct Growth Plan | 6.65% | 7.54% | 6.68% |
| Kotak Ultra Short to Short Term Fund Direct Growth Plan | 6.64% | 7.56% | 6.75% |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
On the latest one-year number, the fund trails Franklin India Ultra Short to Short Term Fund Direct Growth Plan and is just behind Nippon India Ultra Short to Short Term Fund Direct Growth Plan and its direct-growth equivalent. The gap is small, so this is more a comparison of close outcomes than a clear separation.
Over three years and five years, the picture is mixed. The fund sits below Kotak Ultra Short to Short Term Fund Direct Growth Plan and Mahindra Manulife Ultra Short to Short Term Fund Direct Growth Plan on the 3-year measure, but it is ahead of the available peers on the 5-year figure. That makes the longer-horizon story somewhat stronger than the medium-term one.
In our view, the peer set suggests that this fund is consistent rather than standout, with its strongest argument coming from the longer compounding record. The short-term comparison is tighter, while the five-year comparison shows a clearer advantage over the peers with available data.
Source data date: as of 09 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Net Current Assets | Cash & Cash Equivalents and Net Assets | 14.23% |
| NCD National Bank for Agriculture and Rural Development | Corporate Debt | 8.40% |
| 364 Days T-Bill – 10/12/2026 | Treasury Bills | 7.36% |
| NCD REC Ltd | Corporate Debt | 7.09% |
| NCD Poonawalla Fincorp Ltd. | Corporate Debt | 5.95% |
| NCD Mahindra Rural Housing Finance Ltd | Corporate Debt | 3.74% |
| NCD 360 One Prime Ltd | Corporate Debt | 3.73% |
| NCD Summit Digitel Infrastructure Ltd | Corporate Debt | 3.71% |
| NCD Mindspace Business Parks Reit | Corporate Debt | 3.70% |
| NCD Embassy Office Parks Reit | Corporate Debt | 3.55% |
The top 10 holdings account for approximately 61.46% of the portfolio.
To see all holdings, visit the UTI Ultra Short to Short Term Fund Direct Growth Plan page
The largest holding, Net Current Assets, is 14.23%, so it has the highest immediate influence among the disclosed positions. After that, the allocation steps down into a cluster of corporate debt and treasury bill exposures, which suggests the portfolio is not relying on a single dominant security beyond the cash-like bucket.
The decline from the first holding to the tenth is fairly gradual rather than abrupt. That pattern may help reduce overdependence on one or two positions, although the listed holdings still leave the fund with some meaningful concentration in a limited set of instruments. The combined weight of the top 10 at 61.46% reinforces that these positions are likely to shape a large share of near-term behaviour.
With 35 disclosed holdings in total, the portfolio appears to have a longer tail beyond the top 10. In our view, that can add diversification, but the disclosed weights still show that the larger positions may matter most for day-to-day portfolio movement.
Source data date: as of 09 Sep 2026
Who should invest
This fund may suit investors who are comfortable with debt-fund style movement and can hold for at least a medium horizon. The Balanced Risk label and the return record suggest a profile that is steadier than an equity fund, but still not static enough for someone who wants only bank-deposit-like outcomes.
The main trade-off is between moderate return potential and modest variation in performance. The fund has stayed ahead of the benchmark across 1-year, 3-year and 5-year comparisons, but the recent year is a little softer than the longer trend. Investors who value measured compounding and can accept that the path will not be perfectly smooth may find the profile more relevant than those seeking very high return swings.
Tax and exit load
| Holding period | Tax rate | Description |
|---|---|---|
| Units held less than 1 year | 20% | Short-term capital gains tax |
| Units held more than 1 year | 12.5% | Long-term capital gains tax |
Exit load: No exit load.
Source data date: as of 09 Sep 2026
Frequently asked questions
What is the current NAV of UTI Ultra Short to Short Term Fund Direct Growth Plan?
The current NAV is ₹3888.44 as of 09 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The returns are 6.47% for 1 year, 7.31% for 3 years and 7.53% for 5 years.
How does the fund compare with its benchmark?
It has outperformed the benchmark across 1-year, 3-year and 5-year periods. The benchmark return is -7.16% for 1 year, 6% for 3 years and 5.87% for 5 years.
How does it compare with peer funds on available return data?
The fund is close to the peer set on the latest 1-year number and stronger on the available 5-year comparison. The 3-year comparison is mixed against peers with available figures.
What is the minimum SIP amount?
The minimum SIP amount is ₹500.
Who manages the fund and what is the exit load?
Anurag Mittal manages the fund. The exit load is no exit load.
Bottom line
UTI Ultra Short to Short Term Fund Direct Growth Plan shows a steadier long-term pattern than its most recent year, and it remains ahead of the benchmark across the measured horizons. Against peers, the short-term comparison is close, while the five-year figure looks more supportive. The risk label is Balanced Risk, and the portfolio’s largest disclosed weight is in net current assets, which may help explain the measured profile. Overall, this is a fund for investors who want debt-fund compounding with moderate movement rather than a sharply changing return path.
Published on 10 September 2026 at 4:50 PM IST
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RIA disclosure
Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. This review is prepared by Uniapps Investment Adviser Pvt. Ltd. (earlier known as Uniapps Global Research Pvt. Ltd.) under SEBI Registered Investment Adviser registration INA000017639 for general informational purposes and is not personalized investment advice.