Mutual Fund Category AMFI: 'Debt Scheme - Overnight Fund', 'Income/Debt Oriented Schemes - Overnight Fund'

Overnight Funds

Empirical historical performance, risk metrics vs benchmark, and constituent schemes rolling return analytics.

About this Category

Overview

Investment in overnight securities having maturity of 1 day Overnight funds can deploy, not exceeding, 5% of the net assets of the scheme in G-secs and/or T-bills with a residual maturity of upto 30 days for the purpose of placing the same as margin and collateral for certain transactions.

Goal

Safety of Capital over Income generation. These funds historically have been less volatile (less standard deviation).

Taxation

These funds are taxed as debt.

Questions

How have these funds performed as a category vs inflation?
If you consider your tax rate do you get positive or negative returns after adjusting for inflation?
What was impact of interest rate hike (and cut) on these funds on the day it got announced, 1 month after the announcement and 120 days after the announcement, assuming there are no further announcements.

Analyze rolling returns, drawdowns, win/loss distributions, and risk metrics for the CATEGORY-OVERNIGHT-FUNDS benchmark series. View Overnight Funds Series Details

End Amount

₹21,663.76

Initial: ₹10000 (Lumpsum)

Category CAGR

5.76%

Overnight Funds Return

Benchmark CAGR

6.05%

Nifty 1D Rate

Inflation Adj. CAGR

0.87%

Real Annualized Return

Alpha

-0.00

Excess Return vs Benchmark

Beta

0.46

Volatility vs Benchmark

Sharpe Ratio

-0.30

Risk-Adjusted Return

Sortino Ratio

-0.31

Downside Risk-Adjusted Return

Overnight Funds vs Benchmark vs Inflation

Constituent Mutual Fund Schemes (24) Click column headers to sort by rolling return percentiles across 5-year and 10-year horizons.

Return statistics cached as of October 31, 2026 (cached version)

Scheme Name	2.5Th percentile return for 5 Years	Median percentile return for 5 Years	2.5Th percentile return for 10 Years	Median percentile return for 10 years
ADITYA BIRLA SUN LIFE OVERNIGHT FUND-DIRECT PLAN-GROWTH MF_145486	4.73%	5.09%	-	-
BANDHAN Overnight Fund - Direct Plan - Growth MF_146191	4.73%	5.14%	-	-
BANK OF INDIA Overnight Fund Direct Plan Growth MF_147951	5.09%	5.49%	-	-
Bajaj Finserv Overnight Fund - Direct Plan - Growth MF_151849	-	-	-	-
DSP Overnight Fund - Direct Plan - Growth MF_146062	4.79%	5.15%	-	-
Edelweiss Overnight Fund - Direct Plan - Growth MF_147570	4.82%	5.22%	-	-
Franklin India Overnight Fund- Growth - Direct MF_147214	4.69%	5.16%	-	-
HDFC Overnight Fund - Growth Option - Direct Plan MF_119110	4.59%	5.25%	5.34%	5.61%
ICICI Prudential Overnight Fund - Direct Plan - Growth MF_145536	4.71%	5.08%	-	-
ITI Overnight Fund - Direct Plan - Growth Option MF_147713	4.75%	5.17%	-	-
Kotak Overnight Fund -Direct Plan-Growth Option MF_146141	4.73%	5.14%	-	-
LIC MF Overnight Fund-Direct Plan-Growth MF_147515	4.81%	5.27%	-	-
Mahindra Manulife Overnight Fund - Direct Plan -Growth MF_147564	4.81%	5.28%	-	-
Nippon India Overnight Fund - Direct Plan - Growth Option MF_145810	4.76%	5.14%	-	-
PGIM India Overnight Fund - Direct Plan - Growth Option MF_147606	4.88%	5.29%	-	-
SBI OVERNIGHT FUND - DIRECT PLAN - GROWTH MF_119833	4.62%	5.28%	5.35%	5.73%
Shriram Overnight Fund - Direct Growth MF_150562	-	-	-	-
Sundaram Overnight Fund Direct Plan - Growth MF_146963	4.77%	5.16%	-	-
TRUST MF OVERNIGHT FUND-DIRECT PLAN-GROWTH MF_149797	-	-	-	-
Tata Overnight Fund-Direct Plan-Growth MF_146980	4.76%	5.20%	-	-
UTI - Overnight Fund - Direct Plan - Growth Option MF_120785	4.44%	5.38%	5.36%	5.89%
Union Overnight Fund - Direct Plan - Growth Option MF_147003	4.72%	5.18%	-	-
Zerodha Overnight Fund - Direct Plan - Growth Option MF_153436	-	-	-	-
quant Overnight Fund - Growth Option - Direct Plan MF_151190	-	-	-	-