BANDHAN Arbitrage Fund vs Franklin India Arbitrage Fund
BANDHAN Arbitrage Fund and Franklin India Arbitrage Fund are both Arbitrage funds. As of 6 Nov 2026 (Direct plan, Growth option): 3-year CAGR +7.29% vs —, 5-year CAGR +6.80% vs —, volatility 0.58% vs 0.65%, maximum drawdown −0.75% vs −0.44%. Their portfolios overlap by 42.8% (122 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
| BANDHAN Arbitrage | Franklin India Arbitrage | |
|---|---|---|
| Fund house | Bandhan Mutual Fund | Franklin Templeton Mutual Fund |
| Compared as | Arbitrage | Arbitrage |
| NAV | ₹38.1927 | ₹11.4427 |
| NAV date | 6 Nov 2026 | 6 Nov 2026 |
| Launched (first NAV) | 17 Jan 2013 | 19 Nov 2024 |
| Track record | 13.8 yrs | 2.0 yrs |
| Fund size (AUM) | ₹7,745 Cr | ₹1,921 Cr |
| Securities held | 169 | 144 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| BANDHAN Arbitrage | Franklin India Arbitrage | |
|---|---|---|
| 1 month | +0.51% | +0.59% |
| 3 months | +1.55% | +1.74% |
| 6 months | +3.19% | +3.50% |
| 1 year | +6.52% | +7.17% |
| 3 years (CAGR) | +7.29% | — |
| 5 years (CAGR) | +6.80% | — |
| 7 years (CAGR) | +6.14% | — |
| 10 years (CAGR) | +6.33% | — |
| Since launch (CAGR) | +6.91% | +7.11% |
| SIP return (XIRR, 5 years) ⓘ | +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
| BANDHAN Arbitrage | Franklin India Arbitrage | |
|---|---|---|
| 2026 (year to date) | +5.47% | +6.01% |
| 2025 | +7.02% | +7.19% |
| 2024 | +8.31% | — |
| 2023 | +7.86% | — |
| 2022 | +4.83% | — |
| 2021 | +4.24% | — |
Risk
| BANDHAN Arbitrage | Franklin India Arbitrage | |
|---|---|---|
| Volatility (annualised) ⓘ | 0.58% | 0.65% |
| Downside volatility ⓘ | 0.36% | 0.42% |
| Sharpe ratio ⓘ | 1.36 | 0.94 |
| Sortino ratio ⓘ | 2.19 | 1.45 |
| Maximum drawdown ⓘ | −0.75% | −0.44% |
| Recovery from that fall | 1 months | 1 months |
| Current fall from peak | 0.00% | 0.00% |
| Rolling 1-year return: worst | +3.47% | +6.48% |
| Rolling 1-year return: median | +6.90% | +7.04% |
| Rolling 1-year return: best | +10.28% | +7.66% |
| Share of 1-year periods with a loss | 0.00% | 0.00% |
Against each fund's benchmark
| BANDHAN Arbitrage | Franklin India Arbitrage | |
|---|---|---|
| Beta ⓘ | — | — |
| Alpha (Jensen's, annualised) ⓘ | — | — |
| R² ⓘ | — | — |
| Upside capture | — | — |
| Downside capture | — | — |
| Tracking error | — | — |
| Information ratio | — | — |
| Treynor ratio | — | — |
Portfolio
Asset mix
| BANDHAN Arbitrage | Franklin India Arbitrage | |
|---|---|---|
| Equity | 70.17% | 71.34% |
| Mutual Fund Units | 27.40% | 12.22% |
| Debt | 1.39% | 14.51% |
| Cash & equivalents | 1.04% | 1.90% |
Market-cap split (share of fund assets)
| BANDHAN Arbitrage | Franklin India Arbitrage | |
|---|---|---|
| Large Cap | 51.11% | 51.93% |
| Mid Cap | 15.59% | 17.68% |
| Small Cap | 3.47% | 1.78% |
| Unclassified | 0.00% | 0.00% |
Concentration
| BANDHAN Arbitrage | Franklin India Arbitrage | |
|---|---|---|
| Top 10 holdings | 48.95% | 43.94% |
| Effective number of stocks ⓘ | 25.1 | 30.7 |
| Securities held | 169 | 144 |
Portfolio overlap: 42.8%
122 companies are held by both funds; by weight, 42.8% of the two portfolios is the same. That is a moderate overlap.
| Held by both | BANDHAN Arbitrage | Franklin India Arbitrage |
|---|---|---|
| HDFC Bank Limited | 5.22% | 5.79% |
| ICICI Bank Limited | 4.31% | 6.04% |
| Reliance Industries Limited | 4.47% | 4.13% |
| Vodafone Idea Limited | 2.34% | 2.41% |
| Axis Bank Limited | 1.97% | 3.38% |
| State Bank of India | 1.80% | 1.78% |
| Bharti Airtel Limited | 1.44% | 2.55% |
| Adani Enterprises Limited | 1.26% | 1.44% |
| Larsen & Toubro Limited | 0.72% | 1.88% |
| Steel Authority of India Limited | 0.96% | 0.69% |
| IDFC First Bank Limited | 0.69% | 2.11% |
| Bajaj Finance Limited | 0.66% | 1.03% |
| HDFC Life Insurance Company Limited | 0.66% | 1.82% |
| APL Apollo Tubes Limited | 0.82% | 0.65% |
| Kotak Mahindra Bank Limited | 1.36% | 0.63% |
Top 10 holdings
BANDHAN Arbitrage
- Bandhan Money Market Fund -Direct Plan-Growth13.52%
- Bandhan Ultra Short to Short Term Fund-DR GR8.95%
- HDFC Bank Limited5.22%
- Bandhan Ultra Short Term Fund - DR Plan GR4.93%
- Reliance Industries Limited4.47%
- ICICI Bank Limited4.31%
- Vodafone Idea Limited2.34%
- Axis Bank Limited1.97%
- State Bank of India1.80%
- Bharti Airtel Limited1.44%
Franklin India Arbitrage
- Franklin India Money Market Fund Direct-Growth Plan12.02%
- ICICI Bank Limited6.04%
- HDFC Bank Limited5.79%
- Reliance Industries Limited4.13%
- Axis Bank Limited3.37%
- Canara Bank (30/11/2026)2.58%
- Bharti Airtel Limited2.55%
- Union Bank of India2.52%
- National Bank For Agriculture and Rural Development (17/03/2027)2.52%
- Vodafone Idea Limited2.41%
Sector exposure
| BANDHAN Arbitrage | Franklin India Arbitrage | |
|---|---|---|
| Banks | 21.09% | 23.48% |
| Unclassified | 13.88% | 0.00% |
| Other | 13.52% | 0.00% |
| Mutual Fund | 0.00% | 12.22% |
| CRISIL A1+ | 0.63% | 8.91% |
| Telecom - Services | 4.35% | 5.44% |
| Petroleum Products | 5.26% | 4.20% |
| Finance | 4.51% | 2.79% |
| Automobiles | 0.89% | 4.11% |
| Ferrous Metals | 3.67% | 1.09% |
| Pharmaceuticals & Biotechnology | 3.49% | 2.99% |
| ICRA A1+ | 0.63% | 3.03% |
| Power | 2.57% | 1.94% |
| CARE A1+ | 0.00% | 2.55% |
Questions people ask
What is the difference between BANDHAN Arbitrage and Franklin India Arbitrage returns?
As of 6 Nov 2026, Direct plan Growth option: 1-year return +6.52% vs +7.17%; 3-year CAGR +7.29% vs —; 5-year CAGR +6.80% vs —; 10-year CAGR +6.33% vs —. Past returns do not indicate future returns.
How do BANDHAN Arbitrage and Franklin India Arbitrage compare on risk?
Volatility (36 monthly returns, annualised) 0.58% vs 0.65%; Sharpe ratio 1.36 vs 0.94; Sortino ratio 2.19 vs 1.45; maximum drawdown −0.75% vs −0.44%; beta — vs —.
How much do BANDHAN Arbitrage and Franklin India Arbitrage overlap?
By weight, 42.8% of the two portfolios is invested in the same companies; 122 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 BANDHAN Arbitrage and Franklin India Arbitrage?
BANDHAN Arbitrage: large cap 51.1%, mid cap 15.6%, small cap 3.5%. Franklin India Arbitrage: large cap 51.9%, mid cap 17.7%, small cap 1.8% (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
BANDHAN Arbitrage vs
Franklin India Arbitrage vs
All Arbitrage comparisons → · Compare up to six funds yourself → · Every fund in this category → · All comparisons →
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.