Axis Arbitrage Fund vs Tata Arbitrage Fund
Axis Arbitrage Fund and Tata Arbitrage Fund are both Arbitrage funds. As of 4 Nov 2026 (Direct plan, Growth option): 3-year CAGR +7.29% vs +7.41%, 5-year CAGR +6.85% vs +6.90%, volatility 0.59% vs 0.59%, maximum drawdown −0.64% vs −0.57%. Their portfolios overlap by -51% (146 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 | Tata Arbitrage | |
|---|---|---|
| Fund house | Axis Mutual Fund | Tata Mutual Fund |
| Compared as | Arbitrage | Arbitrage |
| NAV | ₹22.1094 | ₹16.4756 |
| NAV date | 4 Nov 2026 | 4 Nov 2026 |
| Launched (first NAV) | 21 Aug 2014 | 19 Dec 2018 |
| Track record | 12.2 yrs | 7.9 yrs |
| Fund size (AUM) | ₹10,168 Cr | ₹8,570 Cr |
| Securities held | 170 | 195 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| Axis Arbitrage | Tata Arbitrage | |
|---|---|---|
| 1 month | +0.46% | +0.45% |
| 3 months | +1.41% | +1.42% |
| 6 months | +3.34% | +3.35% |
| 1 year | +6.60% | +6.70% |
| 3 years (CAGR) | +7.29% | +7.41% |
| 5 years (CAGR) | +6.85% | +6.90% |
| 7 years (CAGR) | +6.23% | +6.43% |
| 10 years (CAGR) | +6.44% | — |
| Since launch (CAGR) | +6.70% | +6.55% |
| SIP return (XIRR, 5 years) ⓘ | +7.11% | +7.24% |
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 | Tata Arbitrage | |
|---|---|---|
| 2026 (year to date) | +5.53% | +5.55% |
| 2025 | +7.06% | +7.26% |
| 2024 | +8.26% | +8.36% |
| 2023 | +7.68% | +7.93% |
| 2022 | +4.95% | +4.86% |
| 2021 | +4.61% | +4.54% |
Risk
| Axis Arbitrage | Tata Arbitrage | |
|---|---|---|
| Volatility (annualised) ⓘ | 0.59% | 0.59% |
| Downside volatility ⓘ | 0.38% | 0.37% |
| Sharpe ratio ⓘ | 1.36 | 1.58 |
| Sortino ratio ⓘ | 2.10 | 2.51 |
| Maximum drawdown ⓘ | −0.64% | −0.57% |
| Recovery from that fall | 0 months | 2 months |
| Current fall from peak | −0.11% | −0.11% |
| Rolling 1-year return: worst | +3.49% | +3.80% |
| Rolling 1-year return: median | +6.89% | +6.79% |
| Rolling 1-year return: best | +9.11% | +8.75% |
| Share of 1-year periods with a loss | 0.00% | 0.00% |
Against each fund's benchmark
| Axis Arbitrage | Tata Arbitrage | |
|---|---|---|
| Beta ⓘ | — | — |
| Alpha (Jensen's, annualised) ⓘ | — | — |
| R² ⓘ | — | — |
| Upside capture | — | — |
| Downside capture | — | — |
| Tracking error | — | — |
| Information ratio | — | — |
| Treynor ratio | — | — |
Portfolio
Asset mix
| Axis Arbitrage | Tata Arbitrage | |
|---|---|---|
| Equity | 69.68% | -54.15% |
| Debt | 17.22% | 21.71% |
| Mutual Fund Units | 13.06% | 13.02% |
| Cash & equivalents | 0.07% | 0.52% |
Market-cap split (share of fund assets)
| Axis Arbitrage | Tata Arbitrage | |
|---|---|---|
| Large Cap | 54.44% | -40.21% |
| Mid Cap | 12.05% | -11.22% |
| Small Cap | 3.19% | -2.72% |
| Unclassified | 0.00% | 0.00% |
Concentration
| Axis Arbitrage | Tata Arbitrage | |
|---|---|---|
| Top 10 holdings | 37.91% | 23.50% |
| Effective number of stocks ⓘ | 33.1 | 41.1 |
| Securities held | 170 | 195 |
Portfolio overlap: -51%
146 companies are held by both funds; by weight, -51% of the two portfolios is the same. That is a low overlap: the two portfolios are largely different.
| Held by both | Axis Arbitrage | Tata Arbitrage |
|---|---|---|
| National Bank for Agriculture and Rural Development | 1.67% | 0.40% |
| Small Industries Development Bank of India | 1.29% | 0.40% |
| Canara Bank | 1.68% | 0.30% |
| Small Industries Development Bank of India (28/01/2027) | 0.24% | 0.30% |
| National Bank for Agriculture and Rural Development | 1.91% | 0.20% |
| Small Industries Dev Bank of India (04/02/2027) | 1.87% | 0.20% |
| Bank of Baroda | 1.20% | 0.20% |
| HDFC Bank Ltd. | 0.48% | 0.20% |
| National Bank for Agriculture and Rural Development | 0.14% | 0.20% |
| Astral Limited | 0.35% | 0.00% |
| SBI Cards and Payment Services Limited | 0.25% | 0.00% |
| UPL Ltd. | 0.24% | 0.00% |
| SRF Ltd. | 0.11% | 0.00% |
| Bank of Maharashtra | 0.02% | 0.00% |
| SBI Life Insurance Company Limited | 0.00% | 0.00% |
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%
Tata Arbitrage
- TATA MONEY MARKET FUND12.05%
- ** - SMALL INDUST DEVLOP BANK OF INDIA - CD - 23/10/20262.03%
- National Bank For Agriculture and Rural Development (28/01/2027)1.49%
- National Bank for Financing Infrastructure and Development1.38%
- Small Industries Development Bank of India1.38%
- Small Industries Development Bank Of India.1.20%
- Canara Bank1.10%
- National Bank For Agriculture and Rural Development (17/03/2027)1.09%
- TATA ULTRA SHORT TERM FUND0.97%
- Power Finance Corporation Ltd.0.81%
Sector exposure
| Axis Arbitrage | Tata Arbitrage | |
|---|---|---|
| Banks | 18.61% | -16.17% |
| CRISIL A1+ | 14.33% | 11.86% |
| Unclassified | 13.06% | 0.00% |
| CAPITAL MARKETS | 0.00% | 13.02% |
| Finance | 6.25% | -3.21% |
| Telecom - Services | 4.48% | -3.60% |
| Petroleum Products | 4.27% | -3.82% |
| Ferrous Metals | 3.83% | -2.96% |
| Pharmaceuticals & Biotechnology | 3.64% | -2.16% |
| Electrical Equipment | 3.41% | -0.97% |
| Industrial Products | 2.58% | -1.27% |
| Power | 2.49% | -3.98% |
| CARE A1+ | 1.93% | 2.21% |
| CRISIL-A1+ | 0.00% | 2.03% |
Questions people ask
What is the difference between Axis Arbitrage and Tata Arbitrage returns?
As of 4 Nov 2026, Direct plan Growth option: 1-year return +6.60% vs +6.70%; 3-year CAGR +7.29% vs +7.41%; 5-year CAGR +6.85% vs +6.90%; 10-year CAGR +6.44% vs —. Past returns do not indicate future returns.
How do Axis Arbitrage and Tata Arbitrage compare on risk?
Volatility (36 monthly returns, annualised) 0.59% vs 0.59%; Sharpe ratio 1.36 vs 1.58; Sortino ratio 2.10 vs 2.51; maximum drawdown −0.64% vs −0.57%; beta — vs —.
How much do Axis Arbitrage and Tata Arbitrage overlap?
By weight, -51% of the two portfolios is invested in the same companies; 146 stocks are held by both, the largest shared positions being National Bank for Agriculture and Rural Development, Small Industries Development Bank of India, Canara Bank. Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of Axis Arbitrage and Tata Arbitrage?
Axis Arbitrage: large cap 54.4%, mid cap 12.1%, small cap 3.2%. Tata Arbitrage: large cap -40.2%, mid cap -11.2%, small cap -2.7% (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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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 4 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.