ADITYA BIRLA SUN LIFE ARBITRAGE FUND vs HDFC Arbitrage Fund
ADITYA BIRLA SUN LIFE ARBITRAGE FUND and HDFC Arbitrage Fund are both Arbitrage funds. As of 6 Nov 2026 (Direct plan, Growth option): 3-year CAGR +7.41% vs +7.29%, 5-year CAGR +6.87% vs +6.75%, volatility 0.57% vs 0.57%, maximum drawdown −0.54% vs −0.73%. Their portfolios overlap by 47.2% (160 stocks held by both).
Showing the Direct plan, Growth option. Portfolio, sector and market-cap figures are the same for every plan and option of a fund.
Key facts
| ADITYA BIRLA SUN LIFE ARBITRAGE | HDFC Arbitrage | |
|---|---|---|
| Fund house | Aditya Birla Sun Life Mutual Fund | HDFC Mutual Fund |
| Compared as | Arbitrage | Arbitrage |
| NAV | ₹31.2402 | ₹21.9770 |
| NAV date | 6 Nov 2026 | 6 Nov 2026 |
| Launched (first NAV) | 2 Jan 2013 | 27 Mar 2014 |
| Track record | 13.8 yrs | 12.6 yrs |
| Fund size (AUM) | ₹26,933 Cr | ₹25,407 Cr |
| Securities held | 204 | 179 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| ADITYA BIRLA SUN LIFE ARBITRAGE | HDFC Arbitrage | |
|---|---|---|
| 1 month | +0.54% | +0.54% |
| 3 months | +1.60% | +1.62% |
| 6 months | +3.34% | +3.30% |
| 1 year | +6.78% | +6.71% |
| 3 years (CAGR) | +7.41% | +7.29% |
| 5 years (CAGR) | +6.87% | +6.75% |
| 7 years (CAGR) | +6.26% | +6.06% |
| 10 years (CAGR) | +6.39% | +6.14% |
| Since launch (CAGR) | +6.98% | +6.44% |
| SIP return (XIRR, 5 years) ⓘ | +7.23% | +7.11% |
Up to one year: absolute return. Beyond one year: CAGR. Computed from each fund's own NAV history (AMFI), measured to the latest NAV.
Calendar-year returns
| ADITYA BIRLA SUN LIFE ARBITRAGE | HDFC Arbitrage | |
|---|---|---|
| 2026 (year to date) | +5.69% | +5.64% |
| 2025 | +7.20% | +6.93% |
| 2024 | +8.30% | +8.22% |
| 2023 | +7.86% | +7.78% |
| 2022 | +4.80% | +4.73% |
| 2021 | +4.52% | +4.17% |
Risk
| ADITYA BIRLA SUN LIFE ARBITRAGE | HDFC Arbitrage | |
|---|---|---|
| Volatility (annualised) ⓘ | 0.57% | 0.57% |
| Downside volatility ⓘ | 0.34% | 0.35% |
| Sharpe ratio ⓘ | 1.60 | 1.40 |
| Sortino ratio ⓘ | 2.67 | 2.27 |
| Maximum drawdown ⓘ | −0.54% | −0.73% |
| Recovery from that fall | 0 months | 0 months |
| Current fall from peak | −0.00% | 0.00% |
| Rolling 1-year return: worst | +3.59% | +3.31% |
| Rolling 1-year return: median | +6.88% | +6.61% |
| Rolling 1-year return: best | +11.18% | +8.63% |
| Share of 1-year periods with a loss | 0.00% | 0.00% |
Against each fund's benchmark
| ADITYA BIRLA SUN LIFE ARBITRAGE | HDFC Arbitrage | |
|---|---|---|
| Beta ⓘ | — | — |
| Alpha (Jensen's, annualised) ⓘ | — | — |
| R² ⓘ | — | — |
| Upside capture | — | — |
| Downside capture | — | — |
| Tracking error | — | — |
| Information ratio | — | — |
| Treynor ratio | — | — |
Portfolio
Asset mix
| ADITYA BIRLA SUN LIFE ARBITRAGE | HDFC Arbitrage | |
|---|---|---|
| Equity | 69.35% | 67.53% |
| Mutual Fund Units | 17.01% | 18.38% |
| Debt | 10.50% | 9.04% |
| Cash & equivalents | 3.12% | 5.05% |
Market-cap split (share of fund assets)
| ADITYA BIRLA SUN LIFE ARBITRAGE | HDFC Arbitrage | |
|---|---|---|
| Large Cap | 50.35% | 55.58% |
| Mid Cap | 15.60% | 10.25% |
| Small Cap | 3.40% | 1.70% |
| Unclassified | 0.00% | 0.00% |
Concentration
| ADITYA BIRLA SUN LIFE ARBITRAGE | HDFC Arbitrage | |
|---|---|---|
| Top 10 holdings | 34.60% | 41.87% |
| Effective number of stocks ⓘ | 47.1 | 39.3 |
| Securities held | 204 | 179 |
Portfolio overlap: 47.2%
160 companies are held by both funds; by weight, 47.2% of the two portfolios is the same. That is a moderate overlap.
| Held by both | ADITYA BIRLA SUN LIFE ARBITRAGE | HDFC Arbitrage |
|---|---|---|
| HDFC Bank Limited | 3.52% | 5.04% |
| ICICI Bank Limited | 3.37% | 5.04% |
| Reliance Industries Limited | 2.87% | 3.39% |
| Bharti Airtel Limited | 2.38% | 3.31% |
| Axis Bank Limited | 2.20% | 2.87% |
| State Bank of India | 1.60% | 2.30% |
| Kotak Mahindra Bank Limited | 1.29% | 1.44% |
| Vodafone Idea Limited | 2.35% | 1.03% |
| JSW Steel Limited | 1.01% | 2.32% |
| Tata Steel Ltd. | 0.83% | 1.55% |
| Indus Towers Limited | 1.10% | 0.81% |
| NTPC Limited | 1.19% | 0.74% |
| Hindalco Industries Limited | 1.18% | 0.73% |
| TVS Motor Company Ltd. | 0.71% | 1.10% |
| Coal India Limited | 0.71% | 0.87% |
Top 10 holdings
ADITYA BIRLA SUN LIFE ARBITRAGE
- Aditya Birla Sun Life Money Manager Fund - Growth - Direct Plan10.18%
- Aditya Birla Sun Life Floating Interest Rate Fund-Direct Plan-Growth3.56%
- HDFC Bank Limited3.52%
- ICICI Bank Limited3.37%
- Reliance Industries Limited2.87%
- Aditya Birla Sun Life Liquid Fund Direct Plan Growth2.55%
- Bharti Airtel Limited2.38%
- Vodafone Idea Limited2.35%
- Axis Bank Limited2.20%
- Larsen & Toubro Limited1.61%
HDFC Arbitrage
- HDFC Money Market Fund - Direct Plan - Growth Option9.14%
- HDFC Bank Limited5.04%
- ICICI Bank Limited5.04%
- Union Bank of India3.84%
- HDFC Liquid Fund - Direct Plan - Growth Option3.75%
- Reliance Industries Limited3.39%
- Bharti Airtel Limited3.31%
- Axis Bank Limited2.87%
- HDFC Ultra Short Term Fund - Direct Plan - Growth Option2.85%
- HDFC Low Duration Fund - Direct Plan - Growth Option2.64%
Sector exposure
| ADITYA BIRLA SUN LIFE ARBITRAGE | HDFC Arbitrage | |
|---|---|---|
| Banks | 16.35% | 22.20% |
| Unclassified | 17.02% | 18.38% |
| CRISIL A1+ | 6.96% | 2.51% |
| Telecom - Services | 5.83% | 5.15% |
| ICRA A1+ | 1.09% | 5.00% |
| Finance | 4.54% | 4.33% |
| Ferrous Metals | 3.18% | 4.52% |
| Petroleum Products | 3.87% | 4.42% |
| Pharmaceuticals & Biotechnology | 3.26% | 2.97% |
| Automobiles | 2.63% | 3.07% |
| Power | 2.50% | 1.72% |
| Non - Ferrous Metals | 2.16% | 0.80% |
| CARE A1+ | 2.09% | 0.00% |
| Diversified FMCG | 1.01% | 2.02% |
Questions people ask
What is the difference between ADITYA BIRLA SUN LIFE ARBITRAGE and HDFC Arbitrage returns?
As of 6 Nov 2026, Direct plan Growth option: 1-year return +6.78% vs +6.71%; 3-year CAGR +7.41% vs +7.29%; 5-year CAGR +6.87% vs +6.75%; 10-year CAGR +6.39% vs +6.14%. Past returns do not indicate future returns.
How do ADITYA BIRLA SUN LIFE ARBITRAGE and HDFC Arbitrage compare on risk?
Volatility (36 monthly returns, annualised) 0.57% vs 0.57%; Sharpe ratio 1.60 vs 1.40; Sortino ratio 2.67 vs 2.27; maximum drawdown −0.54% vs −0.73%; beta — vs —.
How much do ADITYA BIRLA SUN LIFE ARBITRAGE and HDFC Arbitrage overlap?
By weight, 47.2% of the two portfolios is invested in the same companies; 160 stocks are held by both, the largest shared positions being HDFC Bank Limited, ICICI Bank Limited, Reliance Industries Limited. Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of ADITYA BIRLA SUN LIFE ARBITRAGE and HDFC Arbitrage?
ADITYA BIRLA SUN LIFE ARBITRAGE: large cap 50.4%, mid cap 15.6%, small cap 3.4%. HDFC Arbitrage: large cap 55.6%, mid cap 10.3%, small cap 1.7% (share of the fund's assets, from its latest disclosed portfolio).
Is this a recommendation to choose one of these funds?
No. This page places the published figures of both funds side by side. It does not rank, rate or recommend either fund; which one suits an investor depends on their goals, horizon and risk tolerance.
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Sources: NAV from AMFI; returns, risk and ratios computed by MF Analyser from each fund's NAV history (risk on 36 monthly returns, risk-free rate 6.5%); benchmark ratios against each fund's benchmark total-return index; portfolios from each fund house's monthly disclosure. Returns and ratios as of 6 Nov 2026. IDCW options show no return or risk figures because payouts reduce the NAV and AMFI's file carries no payout history to add back. This page compares published figures only — it does not rank, rate or recommend either fund. Past performance does not indicate future returns; mutual fund investments are subject to market risks.