Invesco India Short Term Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Invesco India Short Term Fund Direct Growth Plan is at ₹4,207.4986 as of 09 September 2026, with a scheme AUM of ₹575 Cr. Its 1-year, 3-year and 5-year returns are 5.53%, 7.39% and 6.21%, and the fund sits in the Medium Risk category. Our view is that this is a relatively steady debt option for conservative investors who want moderate compounding rather than sharp upside.

The fund has been live since 01 January 2013 and carries a low 0.35% expense ratio. With a short-term debt portfolio and a broad mix of high-quality borrowers and government paper, it looks better suited to investors who can stay patient through modest fluctuations than to those looking for fast gains.

Quick facts

Particular	Details
NAV	₹4,207.4986 as of 09 Sep 2026
AUM	₹575 Cr
Expense Ratio	0.35%
Launch Date	01 Jan 2013
Min SIP	₹1,000
Risk Category	Medium Risk
Benchmark	Nifty 50
Fund Category	Debt
Exit Load	No exit load after holding period
Fund Managers	Vikas Garg, Gaurav Jakhotia

The fund is managed by Vikas Garg and Gaurav Jakhotia.

Source data date: as of 09 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0%	-4.69%
3M	1.49%	0.93%
1Y	5.53%	-7.16%
3Y	7.39%	6%
5Y	6.21%	5.87%

Recent movement has been fairly calm. Over the last month, the fund has been flat while the benchmark was still weak, which points to a more stable pattern than the index-like reference point.

Across three months, the fund has shown a small positive return, which is useful because it suggests the recent path has been steadier than the benchmark’s more uneven movement. That matters for investors who care more about avoiding sharp swings than about chasing the highest short-term print.

The longer record is stronger than the very recent stretch. The 3-year and 5-year returns remain comfortably positive at 7.39% and 6.21%, and both are above the benchmark figures of 6% and 5.87%. Our read is that the fund has delivered a consistent compounding pattern, even though the short-term numbers are not dramatically ahead.

The time pattern also suggests that the fund has gone through periods of softness and recovery rather than a straight line upward. That is normal for a short-term debt strategy, but it reinforces the point that this is a steadier return profile, not a high-growth one.

Source data date: as of 09 Sep 2026

Should you BUY or HOLD Invesco India 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
Invesco India Short Term Fund Direct Growth Plan	5.53%	7.39%	6.21%
Tata Ultra Short Term Fund Direct Growth Plan	7.11%	7.55%	6.77%
Aditya Birla SL Ultra Short Term Fund Direct Growth Plan	6.79%	7.53%	6.76%
ICICI Pru Short Term Fund Direct Growth Plan	6.6%	7.93%	7.19%
Mahindra Manulife Short Term Fund Direct Growth Plan	6.27%	7.86%	6.66%
Axis Short Term Fund Direct Growth Plan	6.23%	7.86%	6.82%

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

On the most recent 1-year figure, the fund trails the stronger peer returns shown here, while its own longer record is respectable rather than standout. The 3-year and 5-year numbers are below several peers with available data, but the gap is not extreme, which keeps the comparison in the realm of moderate underperformance rather than a sharp miss.

The short-term and long-term comparisons tell a slightly different story. In the near term, the fund looks calmer but less rewarding than the stronger peer set. Over three and five years, it remains competitive enough to stay relevant for conservative debt investors, even if some peers have compounded faster.

Source data date: as of 09 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
8.30% REC Limited 2029 **	Corporate Debt	4.43%
7.96% Pipeline Infrastructure Private Limited 2029 **	Corporate Debt	4.38%
7.55% Indian Railway Finance Corporation Limited 2030 **	Corporate Debt	4.36%
7.4% Export Import Bank of India 2029 **	Corporate Debt	4.34%
6.92% State Government Securities 2030	Government Securities	4.32%
7.44% Power Finance Corporation Limited 2030 **	Corporate Debt	4.32%
Muthoot Finance Limited 2029 (FRN) **	Floating Rate Instruments	4.32%
7.23% Export Import Bank of India 2031 **	Corporate Debt	4.31%
7.3388% ICICI Home Finance Company Limited 2028 **	Corporate Debt	4.31%
7.25% Ultratech Cement Limited 2031 **	Corporate Debt	4.3%

The top 10 holdings account for approximately 43.39% of the portfolio.

To see all holdings, visit the Invesco India Short Term Fund Direct Growth Plan page

The largest holding is 8.30% REC Limited 2029 ** at 4.43%, and the tenth holding is close behind at 4.30%. That narrow spread between the first and tenth positions suggests that the fund does not rely on a single outsized position to do the heavy lifting.

The top 10 together make up 43.39% of the portfolio, which points to a meaningful but not extreme concentration at the front end. With 33 disclosed holdings overall, the remaining positions are likely to form a longer tail that may help spread issuer-level exposure.

Because the weights cluster tightly around the 4.3% to 4.4% area, the portfolio may be designed more for balance across instruments than for a few dominant bets. That profile can suit investors who prefer measured credit and duration exposure over a highly concentrated debt allocation.

Source data date: as of 09 Sep 2026

Who should invest

This fund is more suitable for investors with a moderate tolerance for risk and a medium-to-long holding horizon. The Medium Risk tag, along with the steady 3-year and 5-year returns, suggests a profile that aims for gradual growth rather than aggressive capital appreciation.

It may appeal to someone who wants debt exposure with a relatively orderly return path and who is comfortable with the fact that short-term returns can be flatter than peer funds. The main trade-off is that steadier behaviour can come at the cost of giving up some upside versus faster-compounding peers.

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 Invesco India Short Term Fund Direct Growth Plan?
The current NAV is ₹4,207.4986 as of 09 September 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 5.53%, 7.39% and 6.21%.

How does the fund compare with its benchmark?
It has outperformed the benchmark over 1 year, 3 years and 5 years. The benchmark returns for those periods are -7.16%, 6% and 5.87%.

How does it compare with the peer funds listed here?
Its 1-year return is below the stronger peer figures shown, while its 3-year and 5-year returns are also lower than several peers with available data. The gap is noticeable, but the fund still remains in a competitive debt range.

What is the minimum SIP amount?
The minimum SIP amount is ₹1,000.

Who manages the fund and what is the exit load?
The fund is managed by Vikas Garg and Gaurav Jakhotia. There is no exit load after the holding period.

Bottom line

Invesco India Short Term Fund Direct Growth Plan shows a steadier return profile over the medium term than in the most recent stretch, and its 3-year and 5-year results remain above the benchmark. Compared with the peer set shown here, the fund is less strong on available return figures, especially over 1 year. Its Medium Risk profile, tight top-holding weights and fairly broad 33-holding portfolio make it look balanced rather than aggressive, which can suit investors seeking disciplined debt exposure with moderate compounding.

Published on 10 September 2026 at 11:40 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.