Edelweiss Ultra Short to Short term Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Edelweiss Ultra Short to Short term Fund Direct Growth Plan has a NAV of ₹1106.0762 as of 15 Sep 2026 and a scheme AUM of ₹500 Cr. Its 1-year, 3-year and 5-year returns are 6.44%, 0% and 0%, and the scheme sits in the Balanced Risk bucket.

Our view is that the fund suits investors who want a debt-oriented allocation with a relatively steady return profile rather than sharp upside. The recent return pattern is stronger than the benchmark, but the longer record is still short because the fund launched on 20 Mar 2025.

Quick facts

Particular	Details
NAV	₹1,106.0762 as of 15 Sep 2026
AUM	₹500 Cr
Expense Ratio	0.2%
Launch Date	20 Mar 2025
Min SIP	₹100
Risk Category	Balanced Risk
Benchmark	Nifty 50
Fund Category	Debt
Exit Load	No exit load
Fund Managers	Hetul Raval, Kedar Karnik

The fund is managed by Hetul Raval and Kedar Karnik.

Source data date: as of 15 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.4%	-4.81%
3M	1.69%	-3.63%
1Y	6.44%	-8.27%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The fund has stayed positive across the recent windows that are available, while the benchmark has been negative across the same horizons. That gap matters because it shows the scheme has been better at preserving value over the last month, quarter and year than the benchmark used alongside it.

The 1-year figure is the most useful reference point here because the scheme is still young. A 6.44% return over one year is modest in absolute terms, but it is materially better than the benchmark’s -8.27% reading, which tells us the fund has behaved defensively relative to that reference.

The shorter-period path also looks orderly rather than erratic. The month-by-month pattern suggests small moves rather than large swings, which fits a short-duration debt strategy more than an aggressive return-seeking approach. That kind of profile can be attractive when investors want stability first and upside second.

Because the scheme only launched in March 2025, there is no meaningful 3-year or 5-year track record yet. That limits how confidently we can judge cycle performance, so our view is anchored more in the recent return pattern and the current portfolio mix than in long history.

Source data date: as of 15 Sep 2026

Should you BUY or HOLD Edelweiss 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.

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Peer comparison

Fund	1Y return	3Y return	5Y return
Edelweiss Ultra Short to Short term Fund Direct Growth Plan	6.44%	Data not available	Data not available
Franklin India Ultra Short to Short Term Fund Direct Growth Plan	6.56%	Data not available	Data not available
Tata Ultra Short to Short Term Fund Direct Growth Plan	6.56%	7.34%	6.5%
Axis Ultra Short to Short Term Fund Direct Growth Plan	6.51%	7.47%	6.67%
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%

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.

The current fund’s 1-year return is close to the peer group’s recent range, although it sits a little below the better 1-year readings shown by Franklin India and Tata. The short-term comparison therefore looks fairly even, without a clear gap in either direction.

The longer-term comparison is less straightforward because this fund does not yet have 3-year or 5-year figures, while several peers do. That means the peer set has a deeper history, but the current scheme cannot be judged on the same long-horizon basis yet. For now, the short-term return profile is the more relevant lens.

For investors, that creates a simple trade-off: the fund has kept pace reasonably well in the near term, but the absence of a longer track record means the comparative story is still incomplete.

Source data date: as of 15 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Punjab National Bank CD 15-12-26#	Certificate of Deposit	9.8%
7.51% Sidbi SR V NCD Red 12-06-2028**	Corporate Debt	8.96%
7.25% Maharashtra SDL Red 28-12-2026	Government Securities	5.02%
7.74% HPCL NCD Red 02-03-2028**	Corporate Debt	5.02%
7.59%National Housing Bank NCD 08-09-27**	Corporate Debt	5%
8.75% Piramal Finance Ltd 29-10-27	Corporate Debt	5%
7.35% Exim Bank SR Aa02 NCD 27-07-2028**	Corporate Debt	4.99%
7.123% Tata Cap HSG Fi SR B R 21-07-2027**	Corporate Debt	4.97%
6.6%REC Ltd SR 250A NCD 30-06-27**	Corporate Debt	4.96%
7.1104% Aditya Birla HSG SR D1 R30-07-27**	Corporate Debt	4.96%

The top 10 holdings account for approximately 58.68% of the portfolio.

To see all holdings, visit the Edelweiss Ultra Short to Short term Fund Direct Growth Plan page

The largest holding is Punjab National Bank CD 15-12-26# at 9.8%, which is a meaningful single-position weight for a debt fund. The next few holdings are not far behind, but the weights do step down gradually by the time we reach the tenth holding at 4.96%, so the portfolio does not appear to rely on one position alone.

The displayed holdings together make up 58.68% of the portfolio across 24 disclosed positions, which points to a moderate concentration in the larger names while still leaving room for a longer tail. That balance may help keep the fund from becoming overly dependent on any one issuer, but the larger weights could still have greater influence on returns and volatility than the smaller positions.

Most of the visible portfolio is in corporate debt, with one certificate of deposit and one government security in the top 10. That mix suggests a yield-seeking short-duration posture, while still leaving some scope for stability through higher-quality instruments.

Source data date: as of 15 Sep 2026

Who should invest

This fund may suit investors who are comfortable with a debt scheme that is designed to stay relatively steady rather than chase outsized gains. The Balanced Risk label and the short-term return profile point to a product that may appeal to conservative to moderately conservative investors looking for parking capital over a shorter horizon.

The main fit is for an investor who values a smoother path and can accept that the return profile may stay close to low-to-mid single digits over shorter periods. The benchmark comparison is helpful here: the scheme has held up better than the benchmark over the recent windows, but the trade-off is that the fund is still new and does not yet have a long record across full market cycles.

That makes the fund more suitable for an investment horizon where stability and liquidity matter more than long-term growth chasing. Investors who want a long-established history of 3-year and 5-year outcomes may want to wait for more operating history before drawing strong conclusions.

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 15 Sep 2026

Frequently asked questions

What is the current NAV of Edelweiss Ultra Short to Short term Fund Direct Growth Plan?
The current NAV is ₹1106.0762 as of 15 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
Its 1-year return is 6.44%, while the 3-year and 5-year returns are Data not available because the fund is too new for those periods.

How has the fund performed versus the benchmark?
It has outpaced the benchmark over the available recent windows. The 1-year return is 6.44% against the benchmark’s -8.27%, and the same outperformance is visible over 3 months and 1 month.

How does it compare with peer funds on recent returns?
Its 1-year return is close to the peer range, though some peers such as Franklin India and Tata are slightly higher at 6.56%. The longer-horizon comparison is incomplete because this scheme does not yet have 3-year or 5-year figures.

What is the minimum SIP for this fund?
The minimum SIP is ₹100.

Who manages the fund and what is the exit load?
The fund is managed by Hetul Raval and Kedar Karnik. There is no exit load.

Bottom line

Edelweiss Ultra Short to Short term Fund Direct Growth Plan has a recent return profile that is clearly better than the benchmark, but its longer-term record is still too short to judge on 3-year or 5-year outcomes. Against peers, the 1-year number is broadly in the same band, with a few funds slightly ahead. The portfolio is tilted toward corporate debt with a moderate concentration in the larger holdings, which fits a steadier debt strategy. In our view, it is most relevant for investors who want short-duration debt exposure with controlled movement rather than a long, established performance history.

Published on 16 September 2026 at 2:52 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.