BANDHAN Arbitrage Fund vs Helios Arbitrage Fund
BANDHAN Arbitrage Fund and Helios Arbitrage Fund are both Arbitrage funds. As of 5 Nov 2026 (Direct plan, Growth option): 3-year CAGR +7.24% vs —, 5-year CAGR +6.78% vs —, volatility 0.61% vs —, maximum drawdown −0.75% vs −0.49%. Their portfolios overlap by 32.5% (29 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 | Helios Arbitrage | |
|---|---|---|
| Fund house | Bandhan Mutual Fund | Helios Mutual Fund |
| Compared as | Arbitrage | Arbitrage |
| NAV | ₹38.1527 | ₹10.3600 |
| NAV date | 5 Nov 2026 | 5 Nov 2026 |
| Launched (first NAV) | 17 Jan 2013 | 23 Mar 2026 |
| Track record | 13.8 yrs | 0.6 yrs |
| Fund size (AUM) | ₹7,745 Cr | ₹133 Cr |
| Securities held | 169 | 35 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| BANDHAN Arbitrage | Helios Arbitrage | |
|---|---|---|
| 1 month | +0.41% | +0.29% |
| 3 months | +1.54% | +1.27% |
| 6 months | +3.15% | +2.88% |
| 1 year | +6.40% | — |
| 3 years (CAGR) | +7.24% | — |
| 5 years (CAGR) | +6.78% | — |
| 7 years (CAGR) | +6.12% | — |
| 10 years (CAGR) | +6.32% | — |
| Since launch (CAGR) | +6.91% | — |
| SIP return (XIRR, 5 years) ⓘ | +7.07% | — |
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 | Helios Arbitrage | |
|---|---|---|
| 2026 (year to date) | +5.36% | — |
| 2025 | +7.02% | — |
| 2024 | +8.31% | — |
| 2023 | +7.86% | — |
| 2022 | +4.83% | — |
| 2021 | +4.24% | — |
Risk
| BANDHAN Arbitrage | Helios Arbitrage | |
|---|---|---|
| Volatility (annualised) ⓘ | 0.61% | — |
| Downside volatility ⓘ | 0.40% | — |
| Sharpe ratio ⓘ | 1.25 | — |
| Sortino ratio ⓘ | 1.92 | — |
| Maximum drawdown ⓘ | −0.75% | −0.49% |
| Recovery from that fall | 1 months | 0 months |
| Current fall from peak | −0.10% | −0.19% |
| Rolling 1-year return: worst | +3.47% | — |
| Rolling 1-year return: median | +6.90% | — |
| Rolling 1-year return: best | +10.28% | — |
| Share of 1-year periods with a loss | 0.00% | — |
Against each fund's benchmark
| BANDHAN Arbitrage | Helios Arbitrage | |
|---|---|---|
| Beta ⓘ | — | — |
| Alpha (Jensen's, annualised) ⓘ | — | — |
| R² ⓘ | — | — |
| Upside capture | — | — |
| Downside capture | — | — |
| Tracking error | — | — |
| Information ratio | — | — |
| Treynor ratio | — | — |
Portfolio
Asset mix
| BANDHAN Arbitrage | Helios Arbitrage | |
|---|---|---|
| Equity | 70.17% | 75.32% |
| Mutual Fund Units | 27.40% | 0.00% |
| Debt | 1.39% | 21.76% |
| Cash & equivalents | 1.04% | 2.92% |
Market-cap split (share of fund assets)
| BANDHAN Arbitrage | Helios Arbitrage | |
|---|---|---|
| Large Cap | 51.11% | 68.64% |
| Mid Cap | 15.59% | 5.06% |
| Small Cap | 3.47% | 1.62% |
| Unclassified | 0.00% | 0.00% |
Concentration
| BANDHAN Arbitrage | Helios Arbitrage | |
|---|---|---|
| Top 10 holdings | 48.95% | 50.39% |
| Effective number of stocks ⓘ | 25.1 | 26.1 |
| Securities held | 169 | 35 |
Portfolio overlap: 32.5%
29 companies are held by both funds; by weight, 32.5% of the two portfolios is the same. That is a moderate overlap.
| Held by both | BANDHAN Arbitrage | Helios Arbitrage |
|---|---|---|
| HDFC Bank Limited | 5.22% | 6.93% |
| Reliance Industries Limited | 4.47% | 5.80% |
| ICICI Bank Limited | 4.31% | 5.78% |
| Axis Bank Limited | 1.97% | 5.59% |
| State Bank of India | 1.80% | 4.22% |
| Bharti Airtel Limited | 1.44% | 1.95% |
| Canara Bank | 1.22% | 3.64% |
| Jio Financial Services Limited | 1.19% | 1.80% |
| Life Insurance Corporation Of India | 1.07% | 5.58% |
| Tata Steel Ltd. | 1.00% | 4.77% |
| Punjab National Bank | 0.90% | 0.95% |
| Larsen & Toubro Limited | 0.72% | 3.51% |
| Muthoot Finance Ltd. | 0.67% | 1.36% |
| Bajaj Finance Limited | 0.66% | 0.65% |
| Bank of Baroda | 0.63% | 2.13% |
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%
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
| BANDHAN Arbitrage | Helios Arbitrage | |
|---|---|---|
| Banks | 21.09% | 31.09% |
| Sovereign | 0.00% | 21.76% |
| Unclassified | 13.88% | 0.00% |
| Other | 13.52% | 0.00% |
| Ferrous Metals | 3.67% | 7.49% |
| Petroleum Products | 5.26% | 5.80% |
| Insurance | 2.05% | 5.58% |
| Automobiles | 0.89% | 4.54% |
| Finance | 4.51% | 4.45% |
| Telecom - Services | 4.35% | 2.76% |
| Construction | 0.78% | 3.51% |
| Pharmaceuticals & Biotechnology | 3.49% | 1.20% |
| Capital Markets | 1.91% | 2.58% |
| Power | 2.57% | 0.00% |
Questions people ask
What is the difference between BANDHAN Arbitrage and Helios Arbitrage returns?
As of 5 Nov 2026, Direct plan Growth option: 1-year return +6.40% vs —; 3-year CAGR +7.24% vs —; 5-year CAGR +6.78% vs —; 10-year CAGR +6.32% vs —. Past returns do not indicate future returns.
How do BANDHAN Arbitrage and Helios Arbitrage compare on risk?
Volatility (36 monthly returns, annualised) 0.61% vs —; Sharpe ratio 1.25 vs —; Sortino ratio 1.92 vs —; maximum drawdown −0.75% vs −0.49%; beta — vs —.
How much do BANDHAN Arbitrage and Helios Arbitrage overlap?
By weight, 32.5% of the two portfolios is invested in the same companies; 29 stocks are held by both, the largest shared positions being HDFC Bank Limited, Reliance Industries Limited, ICICI Bank 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 Helios Arbitrage?
BANDHAN Arbitrage: large cap 51.1%, mid cap 15.6%, small cap 3.5%. 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.
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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.