Question 1

Which funds are similar to Mahindra Manulife Overnight Fund Direct-Growth?

Accepted Answer

Funds similar to Mahindra Manulife Overnight Fund Direct-Growth in the Debt: Overnight category include SBI Overnight Fund Direct-Growth, ICICI Prudential Overnight Fund Direct-Growth, and HDFC Overnight Fund Direct-Growth. These funds follow a comparable investment mandate and are benchmarked against similar indices. You can compare them in detail — across returns, risk metrics, expense ratio, and portfolio composition — using the fund comparison tool on sharpely.

Question 2

What is the rank of Mahindra Manulife Overnight Fund Direct-Growth in its category?

Accepted Answer

On a 3-year return basis Mahindra Manulife Overnight Fund Direct-Growth is ranked 18 out of 33 funds in the Debt: Overnight category as of 18 Jul 2026. On a 5-year return basis it ranks 9 out of 27. Consistently ranking in the top across multiple time periods is a stronger signal of fund quality than a single-period rank.

Question 3

How does Mahindra Manulife Overnight Fund Direct-Growth's expense ratio compare to similar funds?

Accepted Answer

Mahindra Manulife Overnight Fund Direct-Growth has an expense ratio of 0.10%. The peers SBI Overnight Fund Direct-Growth has an expense ratio of 0.09% and ICICI Prudential Overnight Fund Direct-Growth has 0.09%. Over the long term, a higher expense ratio can meaningfully drag on returns, so it is worth evaluating whether the fund's performance justifies the additional cost.

Question 4

How does Mahindra Manulife Overnight Fund Direct-Growth's AUM compare to similar funds?

Accepted Answer

Mahindra Manulife Overnight Fund Direct-Growth has an AUM of ₹62.45 crore. The peers SBI Overnight Fund Direct-Growth has an AUM of ₹26,838.6 crore and ICICI Prudential Overnight Fund Direct-Growth has ₹10,066.3 crore. A large AUM can sometimes limit a fund's ability to take meaningful positions in mid and small-cap stocks, as larger trades can move prices. This is particularly relevant for funds that invest outside large caps.

Question 5

Which fund has the best 3-year returns in the Debt: Overnight?

Accepted Answer

The top performing fund in the Debt: Overnight category on a 3-year basis is Bank of India Overnight Fund Direct-Growth with a CAGR of 6.30% as of 18 Jul 2026. Mahindra Manulife Overnight Fund Direct-Growth has delivered 6.15% CAGR over the same period, ranking 18 out of 33 funds. You can view and compare the full category ranking on sharpely.

Question 6

How does Mahindra Manulife Overnight Fund Direct-Growth rank in risk-adjusted returns vs peers?

Accepted Answer

On a risk-adjusted basis, Mahindra Manulife Overnight Fund Direct-Growth has a Sharpe ratio of 1.06 compared to the Debt: Overnight average of 0.97 as of 18 Jul 2026. It ranks 18 out of 32 funds in its category on Sharpe ratio.

Period	This Fund	Category Avg	Category Rank
1Y Return	+5.32%	5.30%	22 / 38
3Y Return	+6.15%	6.14%	18 / 33
5Y Return	+5.65%	5.63%	9 / 27
10Y Return	—	5.37%	—

Mahindra Manulife Overnight Fund Direct-Growth

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