Axis Money Market Fund leads money-market mutual funds in one-year CAGR returns; delivers 6.3% gain
Axis Money Market Fund delivered 6.3% CAGR returns over the last one year and 7.3% CAGR over three years, according to ACE MF data on June 29.
Moneycontrol Desk
July 01, 2026 / 13:50 IST
Axis Money Market Fund currently leads the money-market mutual fund category with a one-year CAGR return of 6.3 percent. It is followed by UTI Money Market Fund and Tata Money Market Fund, which delivered returns of 6.3 percent and 6.2 percent, respectively, over the same period, according to ACE MF data on June 29.
The ranking considers only schemes with assets under management of at least Rs 1,500 crore. Among the top five funds that meet this criterion, Tata Money Market Fund has the largest corpus at Rs 33,030.0 crore.
Comparable benchmark return data was not available for the selected return windows.
The order changes on a one-month basis. Kotak Money Market Fund delivered the strongest return among these five schemes at 1.1 percent.
There is no change at the top when the three-month window is considered. Axis Money Market Fund remains ahead with 2.0 percent.
The order changes on a three-year basis. UTI Money Market Fund delivered the strongest return among these five schemes at 7.3 percent.
Return rankings across mutual funds can shift when the comparison window changes. This makes it useful to read the headline return along with shorter and longer return periods.
Table: Top 5 money-market funds by one-year CAGR return
| Fund name | 1-year return (%) | AUM (Rs crore) | 1-month return (%) | 3-month return (%) | 6-month return (%) | 3-year return (%) |
|---|---|---|---|---|---|---|
| Axis Money Market Fund | 6.3 | 18,185.1 | 1.1 | 2.0 | 3.2 | 7.3 |
| UTI Money Market Fund | 6.3 | 18,610.7 | 1.1 | 2.0 | 3.2 | 7.3 |
| Tata Money Market Fund | 6.2 | 33,030.0 | 1.0 | 2.0 | 3.2 | 7.3 |
| Kotak Money Market Fund | 6.2 | 31,606.4 | 1.1 | 2.0 | 3.2 | 7.3 |
| Bandhan Money Market Fund | 6.2 | 14,977.4 | 1.1 | 1.9 | 3.2 | 7.0 |
Note: The ranking considers only schemes with minimum assets under management of Rs 1,500 crore. Returns and AUM are according to ACE MF data on June 29. One-year and three-year returns are CAGR; one-month, three-month and six-month returns are absolute returns. AUM is in Rs crore.
What is a money-market fund?
Money-market funds invest in short-term money-market instruments. Their returns are influenced by short-term interest rates and liquidity conditions.