Capitalmind Arbitrage Fund vs HDFC Arbitrage Fund
Capitalmind Arbitrage Fund and HDFC Arbitrage Fund are both Arbitrage funds. As of 5 Nov 2026 (Direct plan, Growth option): 3-year CAGR — vs +7.23%, 5-year CAGR — vs +6.73%, volatility — vs 0.60%, maximum drawdown −0.55% vs −0.73%. Their portfolios overlap by 33.1% (48 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
| Capitalmind Arbitrage | HDFC Arbitrage | |
|---|---|---|
| Fund house | Capitalmind Mutual Fund | HDFC Mutual Fund |
| Compared as | Arbitrage | Arbitrage |
| NAV | ₹10.4011 | ₹21.9470 |
| NAV date | 5 Nov 2026 | 5 Nov 2026 |
| Launched (first NAV) | 20 Mar 2026 | 27 Mar 2014 |
| Track record | 0.6 yrs | 12.6 yrs |
| Fund size (AUM) | ₹23 Cr | ₹25,407 Cr |
| Securities held | 50 | 179 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| Capitalmind Arbitrage | HDFC Arbitrage | |
|---|---|---|
| 1 month | +0.59% | +0.39% |
| 3 months | +1.64% | +1.57% |
| 6 months | +3.07% | +3.20% |
| 1 year | — | +6.58% |
| 3 years (CAGR) | — | +7.23% |
| 5 years (CAGR) | — | +6.73% |
| 7 years (CAGR) | — | +6.04% |
| 10 years (CAGR) | — | +6.12% |
| Since launch (CAGR) | — | +6.43% |
| SIP return (XIRR, 5 years) ⓘ | — | +7.06% |
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
| Capitalmind Arbitrage | HDFC Arbitrage | |
|---|---|---|
| 2026 (year to date) | — | +5.49% |
| 2025 | — | +6.93% |
| 2024 | — | +8.22% |
| 2023 | — | +7.78% |
| 2022 | — | +4.73% |
| 2021 | — | +4.17% |
Risk
| Capitalmind Arbitrage | HDFC Arbitrage | |
|---|---|---|
| Volatility (annualised) ⓘ | — | 0.60% |
| Downside volatility ⓘ | — | 0.40% |
| Sharpe ratio ⓘ | — | 1.24 |
| Sortino ratio ⓘ | — | 1.88 |
| Maximum drawdown ⓘ | −0.55% | −0.73% |
| Recovery from that fall | 0 months | 0 months |
| Current fall from peak | −0.14% | −0.14% |
| Rolling 1-year return: worst | — | +3.31% |
| Rolling 1-year return: median | — | +6.60% |
| Rolling 1-year return: best | — | +8.63% |
| Share of 1-year periods with a loss | — | 0.00% |
Against each fund's benchmark
| Capitalmind Arbitrage | HDFC Arbitrage | |
|---|---|---|
| Beta ⓘ | — | — |
| Alpha (Jensen's, annualised) ⓘ | — | — |
| R² ⓘ | — | — |
| Upside capture | — | — |
| Downside capture | — | — |
| Tracking error | — | — |
| Information ratio | — | — |
| Treynor ratio | — | — |
Portfolio
Asset mix
| Capitalmind Arbitrage | HDFC Arbitrage | |
|---|---|---|
| Equity | 77.93% | 67.53% |
| Mutual Fund Units | 14.84% | 18.38% |
| Cash & equivalents | 6.58% | 5.05% |
| Debt | 0.65% | 9.04% |
Market-cap split (share of fund assets)
| Capitalmind Arbitrage | HDFC Arbitrage | |
|---|---|---|
| Large Cap | 52.53% | 55.58% |
| Mid Cap | 17.84% | 10.25% |
| Small Cap | 7.56% | 1.70% |
| Unclassified | 0.00% | 0.00% |
Concentration
| Capitalmind Arbitrage | HDFC Arbitrage | |
|---|---|---|
| Top 10 holdings | 53.10% | 41.87% |
| Effective number of stocks ⓘ | 22.2 | 39.3 |
| Securities held | 50 | 179 |
Portfolio overlap: 33.1%
48 companies are held by both funds; by weight, 33.1% of the two portfolios is the same. That is a moderate overlap.
| Held by both | Capitalmind Arbitrage | HDFC Arbitrage |
|---|---|---|
| ICICI Bank Limited | 4.45% | 5.04% |
| Reliance Industries Limited | 5.45% | 3.39% |
| Bharti Airtel Limited | 2.92% | 3.31% |
| Axis Bank Limited | 3.35% | 2.87% |
| HDFC Bank Limited | 2.42% | 5.04% |
| Canara Bank | 5.64% | 1.52% |
| State Bank of India | 0.94% | 2.30% |
| Bajaj Finance Limited | 0.94% | 1.80% |
| Indus Towers Limited | 1.11% | 0.81% |
| Vodafone Idea Limited | 0.81% | 1.03% |
| Punjab National Bank | 0.79% | 1.27% |
| Bank of Baroda | 1.18% | 0.74% |
| NMDC Limited | 4.74% | 0.67% |
| InterGlobe Aviation Limited | 2.29% | 0.62% |
| Cholamandalam Investment and Finance Company Ltd | 0.89% | 0.62% |
Top 10 holdings
Capitalmind Arbitrage
- Capitalmind Liquid Fund - Direct-Growth14.84%
- Canara Bank5.64%
- Reliance Industries Limited5.45%
- Coforge Limited5.45%
- NMDC Limited4.74%
- ICICI Bank Limited4.45%
- Steel Authority of India Limited3.36%
- Axis Bank Limited3.35%
- Bharti Airtel Limited2.92%
- Manappuram Finance Limited2.90%
HDFC Arbitrage
- HDFC Money Market Fund - Direct Plan - Growth Option9.14%
- HDFC Bank Limited5.04%
- ICICI Bank Limited5.04%
- Union Bank of India3.84%
- HDFC Liquid Fund - Direct Plan - Growth Option3.75%
- Reliance Industries Limited3.39%
- Bharti Airtel Limited3.31%
- Axis Bank Limited2.87%
- HDFC Ultra Short Term Fund - Direct Plan - Growth Option2.85%
- HDFC Low Duration Fund - Direct Plan - Growth Option2.64%
Sector exposure
| Capitalmind Arbitrage | HDFC Arbitrage | |
|---|---|---|
| Banks | 19.33% | 22.20% |
| Unclassified | 14.84% | 18.38% |
| Petroleum Products | 6.89% | 4.42% |
| Finance | 5.78% | 4.33% |
| IT - Software | 5.67% | 0.92% |
| Telecom - Services | 4.84% | 5.15% |
| ICRA A1+ | 0.00% | 5.00% |
| Minerals & Mining | 4.74% | 0.67% |
| Ferrous Metals | 3.36% | 4.52% |
| Construction | 3.51% | 0.57% |
| Aerospace & Defense | 3.11% | 0.75% |
| Automobiles | 1.88% | 3.07% |
| Pharmaceuticals & Biotechnology | 2.66% | 2.97% |
| CRISIL A1+ | 0.00% | 2.51% |
Questions people ask
What is the difference between Capitalmind Arbitrage and HDFC Arbitrage returns?
As of 5 Nov 2026, Direct plan Growth option: 1-year return — vs +6.58%; 3-year CAGR — vs +7.23%; 5-year CAGR — vs +6.73%; 10-year CAGR — vs +6.12%. Past returns do not indicate future returns.
How do Capitalmind Arbitrage and HDFC Arbitrage compare on risk?
Volatility (36 monthly returns, annualised) — vs 0.60%; Sharpe ratio — vs 1.24; Sortino ratio — vs 1.88; maximum drawdown −0.55% vs −0.73%; beta — vs —.
How much do Capitalmind Arbitrage and HDFC Arbitrage overlap?
By weight, 33.1% of the two portfolios is invested in the same companies; 48 stocks are held by both, the largest shared positions being ICICI Bank Limited, Reliance Industries Limited, Bharti Airtel Limited. Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of Capitalmind Arbitrage and HDFC Arbitrage?
Capitalmind Arbitrage: large cap 52.5%, mid cap 17.8%, small cap 7.6%. HDFC Arbitrage: large cap 55.6%, mid cap 10.3%, small cap 1.7% (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.
More comparisons
Capitalmind 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.