Bajaj Finserv Arbitrage Fund vs Kotak Arbitrage Fund
Bajaj Finserv Arbitrage Fund and Kotak Arbitrage Fund are both Arbitrage funds. As of 5 Nov 2026 (Direct plan, Growth option): 3-year CAGR +6.95% vs +7.40%, 5-year CAGR — vs +6.97%, volatility 0.56% vs 0.63%, maximum drawdown −0.41% vs −0.57%. Their portfolios overlap by -31.8% (118 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
| Bajaj Finserv Arbitrage | Kotak Arbitrage | |
|---|---|---|
| Fund house | Bajaj Finserv Mutual Fund | Kotak Mahindra Mutual Fund |
| Compared as | Arbitrage | Arbitrage |
| NAV | ₹12.3670 | ₹43.6278 |
| NAV date | 5 Nov 2026 | 5 Nov 2026 |
| Launched (first NAV) | 18 Sep 2023 | 7 Jan 2013 |
| Track record | 3.1 yrs | 13.8 yrs |
| Fund size (AUM) | ₹1,375 Cr | ₹21,471 Cr |
| Securities held | 125 | 215 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| Bajaj Finserv Arbitrage | Kotak Arbitrage | |
|---|---|---|
| 1 month | +0.45% | +0.42% |
| 3 months | +1.56% | +1.56% |
| 6 months | +3.18% | +3.26% |
| 1 year | +6.54% | +6.66% |
| 3 years (CAGR) | +6.95% | +7.40% |
| 5 years (CAGR) | — | +6.97% |
| 7 years (CAGR) | — | +6.34% |
| 10 years (CAGR) | — | +6.45% |
| Since launch (CAGR) | +6.99% | +7.07% |
| SIP return (XIRR, 5 years) ⓘ | — | +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
| Bajaj Finserv Arbitrage | Kotak Arbitrage | |
|---|---|---|
| 2026 (year to date) | +5.48% | +5.60% |
| 2025 | +6.75% | +7.06% |
| 2024 | +7.61% | +8.47% |
| 2023 | — | +8.01% |
| 2022 | — | +5.14% |
| 2021 | — | +4.56% |
Risk
| Bajaj Finserv Arbitrage | Kotak Arbitrage | |
|---|---|---|
| Volatility (annualised) ⓘ | 0.56% | 0.63% |
| Downside volatility ⓘ | 0.41% | 0.40% |
| Sharpe ratio ⓘ | 0.83 | 1.46 |
| Sortino ratio ⓘ | 1.15 | 2.30 |
| Maximum drawdown ⓘ | −0.41% | −0.57% |
| Recovery from that fall | 1 months | 2 months |
| Current fall from peak | −0.14% | −0.11% |
| Rolling 1-year return: worst | +6.12% | +3.63% |
| Rolling 1-year return: median | +6.82% | +6.88% |
| Rolling 1-year return: best | +7.82% | +10.71% |
| Share of 1-year periods with a loss | 0.00% | 0.00% |
Against each fund's benchmark
| Bajaj Finserv Arbitrage | Kotak Arbitrage | |
|---|---|---|
| Beta ⓘ | — | — |
| Alpha (Jensen's, annualised) ⓘ | — | — |
| R² ⓘ | — | — |
| Upside capture | — | — |
| Downside capture | — | — |
| Tracking error | — | — |
| Information ratio | — | — |
| Treynor ratio | — | — |
Portfolio
Asset mix
| Bajaj Finserv Arbitrage | Kotak Arbitrage | |
|---|---|---|
| Equity | 69.82% | -40.36% |
| Mutual Fund Units | 25.09% | 21.75% |
| Cash & equivalents | 3.31% | 1.36% |
| Debt | 1.78% | 5.76% |
Market-cap split (share of fund assets)
| Bajaj Finserv Arbitrage | Kotak Arbitrage | |
|---|---|---|
| Large Cap | 52.94% | -28.42% |
| Mid Cap | 13.74% | -11.35% |
| Small Cap | 3.14% | -0.59% |
| Unclassified | 0.00% | 0.00% |
Concentration
| Bajaj Finserv Arbitrage | Kotak Arbitrage | |
|---|---|---|
| Top 10 holdings | 54.47% | 26.86% |
| Effective number of stocks ⓘ | 20.8 | 52.1 |
| Securities held | 125 | 215 |
Portfolio overlap: -31.8%
118 companies are held by both funds; by weight, -31.8% of the two portfolios is the same. That is a low overlap: the two portfolios are largely different.
| Held by both | Bajaj Finserv Arbitrage | Kotak Arbitrage |
|---|---|---|
| ICICI Bank Limited | 6.41% | 0.00% |
| Canara Bank | 2.44% | 0.00% |
| Bharti Airtel Limited | 2.08% | 0.00% |
| IDFC First Bank Limited | 1.62% | 0.00% |
| Bharat Electronics Limited | 1.31% | 0.00% |
| Hindalco Industries Limited | 1.05% | 0.00% |
| Hindustan Zinc Limited | 0.99% | 0.00% |
| Larsen & Toubro Limited | 0.95% | 0.00% |
| Adani Enterprises Limited | 0.86% | 0.00% |
| Tata Steel Ltd. | 0.83% | 0.00% |
| Apollo Hospitals Enterprise Limited | 0.73% | 0.00% |
| Maruti Suzuki India Limited | 0.72% | 0.00% |
| Life Insurance Corporation Of India | 0.68% | 0.00% |
| IndusInd Bank Limited | 0.59% | 0.00% |
| LIC Housing Finance Limited | 0.56% | 0.00% |
Top 10 holdings
Bajaj Finserv Arbitrage
- Bajaj Finserv Liquid Fund - Direct Plan - Growth13.03%
- Bajaj Finserv Money Market Fund-Direct Plan-Growth12.06%
- ICICI Bank Limited6.41%
- HDFC Bank Limited6.18%
- Reliance Industries Limited5.21%
- Steel Authority of India Limited2.92%
- Canara Bank2.44%
- Bajaj Finance Limited2.36%
- Bharti Airtel Limited2.08%
- Indian Bank1.78%
Kotak Arbitrage
- Kotak Money Market Fund Direct Growth9.78%
- Kotak Savings Fund Direct Growth4.98%
- Kotak Low Duration Fund Direct Growth3.86%
- Kotak Liquid Direct Growth3.13%
- HDFC Bank Limited (15/02/2027)1.94%
- Small Industries Development Bank of India1.36%
- National Bank For Agriculture and Rural Development (17/02/2027)0.97%
- Canara Bank0.39%
- National Bank For Agriculture and Rural Development0.26%
- Small Industries Development Bank of India0.19%
Sector exposure
| Bajaj Finserv Arbitrage | Kotak Arbitrage | |
|---|---|---|
| Banks | 24.40% | -7.15% |
| Mutual Fund | 0.00% | 21.75% |
| Other | 13.03% | 0.00% |
| Unclassified | 12.06% | 0.00% |
| Finance | 5.93% | -3.92% |
| Petroleum Products | 5.26% | -3.79% |
| Ferrous Metals | 3.83% | -0.73% |
| Telecom - Services | 3.53% | -1.87% |
| CRISIL A1+ | 1.78% | 3.48% |
| Automobiles | 2.33% | -1.33% |
| CARE A1+ | 0.00% | 2.19% |
| Non - Ferrous Metals | 2.04% | 0.00% |
| Power | 1.94% | -1.93% |
| IT - Software | 1.73% | -3.40% |
Questions people ask
What is the difference between Bajaj Finserv Arbitrage and Kotak Arbitrage returns?
As of 5 Nov 2026, Direct plan Growth option: 1-year return +6.54% vs +6.66%; 3-year CAGR +6.95% vs +7.40%; 5-year CAGR — vs +6.97%; 10-year CAGR — vs +6.45%. Past returns do not indicate future returns.
How do Bajaj Finserv Arbitrage and Kotak Arbitrage compare on risk?
Volatility (36 monthly returns, annualised) 0.56% vs 0.63%; Sharpe ratio 0.83 vs 1.46; Sortino ratio 1.15 vs 2.30; maximum drawdown −0.41% vs −0.57%; beta — vs —.
How much do Bajaj Finserv Arbitrage and Kotak Arbitrage overlap?
By weight, -31.8% of the two portfolios is invested in the same companies; 118 stocks are held by both, the largest shared positions being ICICI Bank Limited, Canara Bank, Bharti Airtel Limited. Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of Bajaj Finserv Arbitrage and Kotak Arbitrage?
Bajaj Finserv Arbitrage: large cap 52.9%, mid cap 13.7%, small cap 3.1%. Kotak Arbitrage: large cap -28.4%, mid cap -11.4%, small cap -0.6% (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.
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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.