JioBlackRock Ultra Short to Short Term Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 17, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
JioBlackRock Ultra Short to Short Term Fund Direct Growth Plan currently has a NAV of ₹1041.9626 as of 16 Sep 2026 and manages ₹648 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0%, and 0%, and the scheme sits in the Balanced Risk category. Our view is that this is a short-duration debt fund with a relatively steady recent pattern, but the limited live track record means the return picture is still developing.
The portfolio is built mainly around corporate debt and certificate of deposit exposure, which fits a conservative debt mandate. The low expense ratio of 0.0% and no exit load may appeal to investors looking for a low-friction parking option, but the fund’s short history means its usefulness is easier to judge on current income behaviour and portfolio quality than on long-run results.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹1,041.9626 as of 16 Sep 2026 |
| AUM | ₹648 Cr |
| Expense Ratio | 0.0% |
| Launch Date | 19 Jan 2026 |
| Min SIP | ₹500 |
| Risk Category | Balanced Risk |
| Benchmark | Nifty 50 |
| Fund Category | Debt |
| Exit Load | No exit load |
| Fund Managers | Vikrant Mehta, Siddharth Deb, Arun Ramachandran |
The fund is managed by Vikrant Mehta, Siddharth Deb, and Arun Ramachandran.
Source data date: as of 16 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | 0.34% | -4.41% |
| 3M | 1.59% | -3.60% |
| 1Y | Data not available | Data not available |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
Recent behaviour has been noticeably steadier than the benchmark. Over both 1M and 3M, the fund stayed positive while the benchmark was negative, which suggests the portfolio has been relatively resilient in a weak market backdrop. That does not by itself make the fund a high-return story, but it does point to a return profile that is more about preservation and smoother accrual than aggressive growth.
The short-term pattern also looks more supportive than the benchmark’s direction of travel. The fund’s 1M and 3M figures are modest, yet they remain in positive territory, while the benchmark stayed below zero over the same windows. For an ultra-short to short-term debt strategy, that kind of spread matters more than headline excitement because it shows the scheme has not needed a strong market lift to hold up.
The challenge is that the fund was launched only in January 2026, so there is no meaningful 1-year, 3-year or 5-year history to judge in the usual way. That makes the current reading useful mainly as an early snapshot rather than a full cycle test. Our view is that the present behaviour supports a cautious, income-oriented approach, but the longer evidence base is still too short to draw strong conclusions.
Source data date: as of 16 Sep 2026
Should you BUY or HOLD JioBlackRock 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 JioBlackRock Ultra Short to Short Term? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| JioBlackRock Ultra Short to Short Term Fund Direct Growth Plan | Data not available | Data not available | Data not available |
| Franklin India Ultra Short to Short Term Fund Direct Growth Plan | 6.57% | Data not available | Data not available |
| Nippon India Ultra Short to Short Term Fund Direct Growth Plan | 6.51% | 7.45% | 6.73% |
| Nippon India Ultra Short to Short Term Fund(B)-Direct Plan | 6.51% | 7.45% | 6.73% |
| Tata Ultra Short to Short Term Fund Direct Growth Plan | 6.48% | 7.31% | 6.49% |
| Kotak Ultra Short to Short Term Fund Direct Growth Plan | 6.46% | 7.49% | 6.72% |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
On the available 1-year figures, the peer set is ahead of this fund because the current scheme has no comparable 1-year return yet, while Franklin India Ultra Short to Short Term Fund Direct Growth Plan shows 6.57% and both Nippon India variants show 6.51%. Tata Ultra Short to Short Term Fund Direct Growth Plan and Kotak Ultra Short to Short Term Fund Direct Growth Plan are close behind at 6.48% and 6.46% respectively.
Because the fund has not built out 3-year or 5-year history, the longer-term comparison is one-sided. Several peers do have multi-year numbers in the mid-7% range for 3 years and mid-6% range for 5 years, so the current scheme cannot yet be assessed on the same footing. That makes the short-term comparison useful, but not a substitute for a fuller track record.
In practical terms, the peer table tells two different stories: the market already offers schemes with established multi-year compounding, while this fund is still in the early phase of building evidence. For now, the comparison leans more toward process and portfolio observation than toward a mature performance contest.
Source data date: as of 16 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| 7.3763% Bajaj Finance Ltd (26-Jun-2028) | Corporate Debt | 7.62% |
| 7.1554% Kotak Mahindra Prime Ltd (19-Jun-2028) ** | Corporate Debt | 7.60% |
| Canara Bank (04-Mar-2027) | Certificate of Deposit | 7.45% |
| HDFC Bank Ltd (12-Mar-2027) | Certificate of Deposit | 7.44% |
| Union Bank of India (12-Mar-2027) ** | Certificate of Deposit | 7.44% |
| Bank of Baroda (05-Mar-2027) ** | Certificate of Deposit | 5.96% |
| 7.77% REC Ltd (31-Mar-2028) ** | Corporate Debt | 3.87% |
| 7.8% LIC Housing Finance Ltd (22-Dec-2027) ** | Corporate Debt | 3.85% |
| 7.45% Power Finance Corporation Ltd (15-Jul-2028) | Corporate Debt | 3.84% |
| 7.48% National Bank for Agriculture & Rural Development (15-Sep-2028) | Corporate Debt | 3.84% |
The top 10 holdings account for approximately 58.91% of the portfolio.
To see all holdings, visit the JioBlackRock Ultra Short to Short Term Fund Direct Growth Plan page
The largest single holding is 7.62%, and the next few positions remain close to that level, which suggests the fund does not rely on one dominant exposure. The drop from the first holding to the tenth is meaningful but not abrupt, moving from the mid-7% area to 3.84%, so the portfolio looks balanced across several short-duration credit positions rather than extremely top-heavy.
At the same time, 58.91% across the top 10 holdings means a large share of the scheme is visible in the disclosed list, while 23 total holdings indicate there is still a longer tail beyond the largest names. Our view is that the fund may be reasonably diversified within its chosen short-term debt lane, but the largest positions are still important enough to influence returns and stability.
The mix of corporate debt and certificates of deposit also matters. It points to a portfolio designed around short-dated income instruments, which may help keep volatility lower than equity-style funds, though the actual outcome will depend on credit quality, maturity profile and prevailing rate conditions.
Source data date: as of 16 Sep 2026
Who should invest
This fund may suit investors who are comfortable with debt-fund style fluctuations and want a short-duration allocation rather than equity-like growth. The Balanced Risk label and the portfolio mix suggest it is aimed at a cautious to moderate risk appetite, not an investor looking for fast capital appreciation.
The short-term return pattern is encouraging in the sense that it stayed positive while the benchmark was weak, but the fund’s own history is still very limited. That means the main trade-off is between current steadiness and the lack of a long record. Investors with a short to medium holding horizon and a preference for income-oriented debt exposure may find that mix relevant.
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 16 Sep 2026
Frequently asked questions
What is the current NAV of JioBlackRock Ultra Short to Short Term Fund Direct Growth Plan?
The current NAV is ₹1041.9626 as of 16 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year, 3-year and 5-year returns are not available yet because the scheme was launched on 19 Jan 2026.
How has it performed versus the benchmark recently?
It has been ahead of the benchmark in the recent windows that are available. The fund shows 0.34% for 1M and 1.59% for 3M, while the benchmark shows -4.41% and -3.60% over the same periods.
How does it compare with peer funds on available return data?
On the available 1-year figures, peer funds such as Franklin India Ultra Short to Short Term Fund Direct Growth Plan at 6.57% and Nippon India Ultra Short to Short Term Fund Direct Growth Plan at 6.51% have established histories, while this fund does not yet have a comparable 1-year number.
Is there a minimum SIP amount?
Yes, the minimum SIP amount is ₹500.
What are the risk profile, exit load and fund managers?
The fund carries a Balanced Risk label, has no exit load, and is managed by Vikrant Mehta, Siddharth Deb, and Arun Ramachandran.
Bottom line
This fund’s short-term behaviour is more stable than the benchmark, but its longer-term record is still too short to judge in the usual way. Compared with peers, the available return data shows established schemes ahead on longer history, while this fund remains in the early stage of building evidence. The portfolio is spread across corporate debt and certificate of deposit positions, with the largest holding at 7.62% and the top 10 together at 58.91%, which suggests a measured but still meaningful concentration in a limited set of short-term credit exposures.
Published on 17 September 2026 at 1:35 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.