Bandhan 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
Bandhan Ultra Short to Short Term Fund Direct Growth Plan has a NAV of ₹42.5716 as of 09 Sep 2026 and an AUM of ₹6,404 Cr. Its 1-year, 3-year and 5-year returns are 6.34%, 7.19% and 6.38%, and it sits in the Balanced Risk category. Our view is that it fits investors looking for a debt allocation that has kept a reasonably steady compounding pattern over longer periods, while still accepting moderate fluctuations rather than fully deposit-like behaviour.
The fund’s return profile is more consistent over 3 years and 5 years than over very short windows, and the benchmark comparison is mixed. The portfolio is tilted toward certificate of deposit and corporate debt positions with meaningful cash and treasury-bill exposure, which supports a relatively balanced short-duration posture.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹42.5716 as of 09 Sep 2026 |
| AUM | ₹6,404 Cr |
| Expense Ratio | 0.34% |
| Launch Date | 01 Jan 2013 |
| Min SIP | ₹100 |
| Risk Category | Balanced Risk |
| Benchmark | Nifty 50 |
| Fund Category | Debt |
| Exit Load | No exit load after holding period |
| Fund Managers | Harshal Joshi |
The fund is managed by Harshal Joshi.
Source data date: as of 09 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | 0.47% | -4.69% |
| 3M | 1.79% | 0.93% |
| 1Y | 6.34% | -7.16% |
| 3Y | 7.19% | 6% |
| 5Y | 6.38% | 5.87% |
Recent performance has been steadier than the benchmark in the short windows, especially over 1 month and 1 year. The fund stayed positive while the benchmark was negative over 1 month and 1 year, which indicates a more stable debt-style return pattern than an equity benchmark would normally show.
Over 3 months, the fund also stayed ahead of the benchmark, although the gap was not as wide as in the 1-year period. That tells us the recent run has remained constructive, but not dramatically stronger than the benchmark over the very latest quarter.
The longer horizon is more nuanced. At 3 years and 5 years, the fund is still ahead of the benchmark, but only marginally on 5 years and with a wider edge on 3 years. Our view is that this looks like a fund that has compounded in a reasonably orderly way rather than delivering sharp bursts of outperformance.
The pattern across the time windows is useful: the fund has not shown the kind of uneven swings that would suggest a highly tactical portfolio, yet it also has not produced a step-change in returns. For investors, that combination usually points to a steadier income-oriented debt allocation with moderate return variability.
Source data date: as of 09 Sep 2026
Should you BUY or HOLD Bandhan 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 Bandhan Ultra Short to Short Term? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Bandhan Ultra Short to Short Term Fund Direct Growth Plan | 6.34% | 7.19% | 6.38% |
| 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% |
| Mirae Asset Ultra Short to Short Term Fund Direct Growth Plan | 6.63% | 7.52% | 6.62% |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
The fund’s 1-year return is broadly in line with the peer set, with Franklin India a little higher and the other peers close behind or just ahead. Over 3 years and 5 years, the fund is also competitive, but the available peer figures suggest some competitors have done slightly better on those longer windows. The main takeaway is that the fund’s recent record is respectable, while the longer-term comparison shows that it has kept pace without clearly separating itself from the stronger peer results.
The short-term and longer-term views are not identical. Near-term returns look solid and stable, but the 3-year and 5-year figures suggest a more measured compounding path than the stronger peer outcomes available for comparison. For a debt investor, that matters because the fund appears to offer consistency first and only then incremental upside.
Source data date: as of 09 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| HDFC Bank Limited ** | Certificate of Deposit | 6.98% |
| Triparty Repo TRP_010926 | Cash & Cash Equivalents and Net Assets | 6.88% |
| 7.45% Power Finance Corporation Limited | Corporate Debt | 5.84% |
| Bank of Baroda ** | Certificate of Deposit | 4.94% |
| Canara Bank ** | Certificate of Deposit | 4.56% |
| 8.1% Tata Capital Housing Finance Limited ** | Corporate Debt | 4.3% |
| 7.1% Bajaj Housing Finance Limited ** | Corporate Debt | 4.17% |
| 7.83% Bajaj Housing Finance Limited ** | Corporate Debt | 3.89% |
| 91 Days Tbill (MD 08/10/2026) | Treasury Bills | 3.88% |
| Axis Bank Limited ** | Certificate of Deposit | 3.88% |
The top 10 holdings account for approximately 49.32% of the portfolio.
To see all holdings, visit the Bandhan Ultra Short to Short Term Fund Direct Growth Plan page
The largest single holding is HDFC Bank Limited ** at 6.98%, which is meaningful but not dominant in isolation. The drop from the first holding to the tenth is gradual rather than steep, so no single position appears to control the portfolio on its own.
We see a mix of certificate of deposit, cash, corporate debt and treasury-bill exposure in the visible holdings. That mix may help reduce reliance on one issuer type, while still leaving the fund sensitive to short-duration credit and money-market style positions.
Because the top 10 holdings sum to 49.32% and 38 holdings are disclosed in total, the portfolio looks moderately spread out with a long tail beyond the largest positions. Our view is that this could make the fund less dependent on one or two names, even though the visible top holdings still carry a material share of assets.
Source data date: as of 09 Sep 2026
Who should invest
This fund suits investors who are comfortable with debt-fund volatility that is still relatively contained, rather than those who want a fixed-return style outcome. The Balanced Risk label and the steady longer-term return pattern suggest it may suit a medium-term parking or accrual-oriented allocation more than a very short holding period.
The main trade-off is between stability and incremental return potential. The fund has held up better than the benchmark in the short windows and has stayed competitive over 3 years and 5 years, but the peer comparison shows that some alternatives have run slightly ahead on longer periods. Investors who want a debt allocation with a measured return profile and diversified short-duration exposure may find the setup 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 |
No exit load after holding period.
Source data date: as of 09 Sep 2026
Frequently asked questions
What is the current NAV of Bandhan Ultra Short to Short Term Fund Direct Growth Plan?
The current NAV is ₹42.5716 as of 09 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s returns are 6.34% for 1 year, 7.19% for 3 years and 6.38% for 5 years.
How does the fund compare with its benchmark?
It has outperformed the benchmark across 1 month, 3 months, 1 year, 3 years and 5 years. The gap is widest over 1 year, where the fund is positive and the benchmark is negative.
How does it compare with peer funds on available return data?
Its 1-year return is close to the peer range, while the longer-term figures are competitive but not clearly ahead of the stronger peer outcomes shown. Some peers have slightly higher 3-year and 5-year numbers.
What is the minimum SIP amount?
The minimum SIP amount is not stated here.
What is the exit load and who manages the fund?
No exit load applies after the holding period, and the fund is managed by Harshal Joshi.
Bottom line
Bandhan Ultra Short to Short Term Fund Direct Growth Plan shows a steadier return pattern over longer horizons than over very short windows, and it has stayed ahead of the benchmark in the periods shown. Against peers, the fund remains competitive, though some alternatives have slightly stronger longer-term numbers. The portfolio is built around certificate of deposit, cash, corporate debt and treasury-bill exposure, which supports a diversified short-duration profile. It looks most relevant for investors who want a balanced debt allocation with moderate return expectations and can accept some fluctuation in pursuit of compounding.
Published on 10 September 2026 at 10:44 AM 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.