Axis Arbitrage Fund vs Helios Arbitrage Fund
Axis Arbitrage Fund and Helios Arbitrage Fund are both Arbitrage funds. As of 5 Nov 2026 (Direct plan, Growth option): 3-year CAGR +7.27% vs —, 5-year CAGR +6.84% vs —, volatility 0.60% vs —, maximum drawdown −0.64% vs −0.49%. Their portfolios overlap by 29% (28 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
| Axis Arbitrage | Helios Arbitrage | |
|---|---|---|
| Fund house | Axis Mutual Fund | Helios Mutual Fund |
| Compared as | Arbitrage | Arbitrage |
| NAV | ₹22.1032 | ₹10.3600 |
| NAV date | 5 Nov 2026 | 5 Nov 2026 |
| Launched (first NAV) | 21 Aug 2014 | 23 Mar 2026 |
| Track record | 12.2 yrs | 0.6 yrs |
| Fund size (AUM) | ₹10,168 Cr | ₹133 Cr |
| Securities held | 170 | 35 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| Axis Arbitrage | Helios Arbitrage | |
|---|---|---|
| 1 month | +0.39% | +0.29% |
| 3 months | +1.53% | +1.27% |
| 6 months | +3.17% | +2.88% |
| 1 year | +6.57% | — |
| 3 years (CAGR) | +7.27% | — |
| 5 years (CAGR) | +6.84% | — |
| 7 years (CAGR) | +6.23% | — |
| 10 years (CAGR) | +6.43% | — |
| Since launch (CAGR) | +6.70% | — |
| SIP return (XIRR, 5 years) ⓘ | +7.09% | — |
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
| Axis Arbitrage | Helios Arbitrage | |
|---|---|---|
| 2026 (year to date) | +5.50% | — |
| 2025 | +7.06% | — |
| 2024 | +8.26% | — |
| 2023 | +7.68% | — |
| 2022 | +4.95% | — |
| 2021 | +4.61% | — |
Risk
| Axis Arbitrage | Helios Arbitrage | |
|---|---|---|
| Volatility (annualised) ⓘ | 0.60% | — |
| Downside volatility ⓘ | 0.39% | — |
| Sharpe ratio ⓘ | 1.32 | — |
| Sortino ratio ⓘ | 2.02 | — |
| Maximum drawdown ⓘ | −0.64% | −0.49% |
| Recovery from that fall | 0 months | 0 months |
| Current fall from peak | −0.14% | −0.19% |
| Rolling 1-year return: worst | +3.49% | — |
| Rolling 1-year return: median | +6.89% | — |
| Rolling 1-year return: best | +9.11% | — |
| Share of 1-year periods with a loss | 0.00% | — |
Against each fund's benchmark
| Axis Arbitrage | Helios Arbitrage | |
|---|---|---|
| Beta ⓘ | — | — |
| Alpha (Jensen's, annualised) ⓘ | — | — |
| R² ⓘ | — | — |
| Upside capture | — | — |
| Downside capture | — | — |
| Tracking error | — | — |
| Information ratio | — | — |
| Treynor ratio | — | — |
Portfolio
Asset mix
| Axis Arbitrage | Helios Arbitrage | |
|---|---|---|
| Equity | 69.68% | 75.32% |
| Debt | 17.22% | 21.76% |
| Mutual Fund Units | 13.06% | 0.00% |
| Cash & equivalents | 0.07% | 2.92% |
Market-cap split (share of fund assets)
| Axis Arbitrage | Helios Arbitrage | |
|---|---|---|
| Large Cap | 54.44% | 68.64% |
| Mid Cap | 12.05% | 5.06% |
| Small Cap | 3.19% | 1.62% |
| Unclassified | 0.00% | 0.00% |
Concentration
| Axis Arbitrage | Helios Arbitrage | |
|---|---|---|
| Top 10 holdings | 37.91% | 50.39% |
| Effective number of stocks ⓘ | 33.1 | 26.1 |
| Securities held | 170 | 35 |
Portfolio overlap: 29%
28 companies are held by both funds; by weight, 29% of the two portfolios is the same. That is a moderate overlap.
| Held by both | Axis Arbitrage | Helios Arbitrage |
|---|---|---|
| HDFC Bank Limited | 4.06% | 6.93% |
| ICICI Bank Limited | 3.83% | 5.78% |
| Reliance Industries Limited | 3.77% | 5.80% |
| State Bank of India | 2.63% | 4.22% |
| Bharti Airtel Limited | 2.22% | 1.95% |
| Tata Steel Ltd. | 1.83% | 4.77% |
| Axis Bank Limited | 1.38% | 5.59% |
| Canara Bank | 1.19% | 3.64% |
| Hindalco Industries Limited | 1.16% | 1.74% |
| Jio Financial Services Limited | 1.07% | 1.80% |
| Indus Towers Limited | 1.12% | 0.81% |
| Punjab National Bank | 0.79% | 0.95% |
| Life Insurance Corporation Of India | 0.69% | 5.58% |
| Bajaj Finance Limited | 1.43% | 0.65% |
| Crompton Greaves Consumer Electricals Limited | 0.61% | 1.62% |
Top 10 holdings
Axis Arbitrage
- Axis Money Market Fund - Direct Plan - Growth Option13.06%
- HDFC Bank Limited4.06%
- ICICI Bank Limited3.83%
- Reliance Industries Limited3.77%
- Bharat Heavy Electricals Limited2.64%
- State Bank of India2.63%
- Bharti Airtel Limited2.22%
- Canara Bank (10/02/2027)1.92%
- National Bank for Agriculture and Rural Development1.91%
- Small Industries Dev Bank of India (04/02/2027)1.87%
Helios Arbitrage
- HDFC Bank Limited6.93%
- Reliance Industries Limited5.80%
- ICICI Bank Limited5.78%
- Axis Bank Limited5.59%
- Life Insurance Corporation Of India5.58%
- Tata Steel Ltd.4.77%
- Eicher Motors Ltd.4.36%
- State Bank of India4.22%
- 364 DAY T-BILL 28.01.273.69%
- 364 DAYS T-BILL 110320273.67%
Sector exposure
| Axis Arbitrage | Helios Arbitrage | |
|---|---|---|
| Banks | 18.61% | 31.09% |
| Sovereign | 0.00% | 21.76% |
| CRISIL A1+ | 14.33% | 0.00% |
| Unclassified | 13.06% | 0.00% |
| Ferrous Metals | 3.83% | 7.49% |
| Finance | 6.25% | 4.45% |
| Petroleum Products | 4.27% | 5.80% |
| Insurance | 1.45% | 5.58% |
| Automobiles | 0.82% | 4.54% |
| Telecom - Services | 4.48% | 2.76% |
| Pharmaceuticals & Biotechnology | 3.64% | 1.20% |
| Construction | 0.10% | 3.51% |
| Electrical Equipment | 3.41% | 0.00% |
| Industrial Products | 2.58% | 0.00% |
Questions people ask
What is the difference between Axis Arbitrage and Helios Arbitrage returns?
As of 5 Nov 2026, Direct plan Growth option: 1-year return +6.57% vs —; 3-year CAGR +7.27% vs —; 5-year CAGR +6.84% vs —; 10-year CAGR +6.43% vs —. Past returns do not indicate future returns.
How do Axis Arbitrage and Helios Arbitrage compare on risk?
Volatility (36 monthly returns, annualised) 0.60% vs —; Sharpe ratio 1.32 vs —; Sortino ratio 2.02 vs —; maximum drawdown −0.64% vs −0.49%; beta — vs —.
How much do Axis Arbitrage and Helios Arbitrage overlap?
By weight, 29% of the two portfolios is invested in the same companies; 28 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 Axis Arbitrage and Helios Arbitrage?
Axis Arbitrage: large cap 54.4%, mid cap 12.1%, small cap 3.2%. Helios Arbitrage: large cap 68.6%, mid cap 5.1%, small cap 1.6% (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.
More comparisons
Axis Arbitrage vs
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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 5 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.