Capitalmind Arbitrage Fund vs SBI Arbitrage Fund
Capitalmind Arbitrage Fund and SBI Arbitrage Fund are both Arbitrage funds. As of 6 Nov 2026 (Direct plan, Growth option): 3-year CAGR — vs +7.27%, 5-year CAGR — vs +6.86%, volatility — vs 0.54%, maximum drawdown −0.55% vs −0.65%. Their portfolios overlap by 33.4% (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 | SBI Arbitrage | |
|---|---|---|
| Fund house | Capitalmind Mutual Fund | SBI Mutual Fund |
| Compared as | Arbitrage | Arbitrage |
| NAV | ₹10.4079 | ₹39.1580 |
| NAV date | 6 Nov 2026 | 6 Nov 2026 |
| Launched (first NAV) | 20 Mar 2026 | 14 Jan 2013 |
| Track record | 0.6 yrs | 13.8 yrs |
| Fund size (AUM) | ₹23 Cr | ₹46,309 Cr |
| Securities held | 50 | 200 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| Capitalmind Arbitrage | SBI Arbitrage | |
|---|---|---|
| 1 month | +0.57% | +0.55% |
| 3 months | +1.66% | +1.61% |
| 6 months | +3.06% | +3.24% |
| 1 year | — | +6.65% |
| 3 years (CAGR) | — | +7.27% |
| 5 years (CAGR) | — | +6.86% |
| 7 years (CAGR) | — | +6.12% |
| 10 years (CAGR) | — | +6.25% |
| Since launch (CAGR) | — | +6.84% |
| SIP return (XIRR, 5 years) ⓘ | — | +7.15% |
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 | SBI Arbitrage | |
|---|---|---|
| 2026 (year to date) | — | +5.60% |
| 2025 | — | +7.05% |
| 2024 | — | +8.11% |
| 2023 | — | +7.98% |
| 2022 | — | +5.09% |
| 2021 | — | +4.43% |
Risk
| Capitalmind Arbitrage | SBI Arbitrage | |
|---|---|---|
| Volatility (annualised) ⓘ | — | 0.54% |
| Downside volatility ⓘ | — | 0.34% |
| Sharpe ratio ⓘ | — | 1.43 |
| Sortino ratio ⓘ | — | 2.28 |
| Maximum drawdown ⓘ | −0.55% | −0.65% |
| Recovery from that fall | 0 months | 1 months |
| Current fall from peak | −0.07% | −0.00% |
| Rolling 1-year return: worst | — | +2.67% |
| Rolling 1-year return: median | — | +6.77% |
| Rolling 1-year return: best | — | +9.89% |
| Share of 1-year periods with a loss | — | 0.00% |
Against each fund's benchmark
| Capitalmind Arbitrage | SBI Arbitrage | |
|---|---|---|
| Beta ⓘ | — | — |
| Alpha (Jensen's, annualised) ⓘ | — | — |
| R² ⓘ | — | — |
| Upside capture | — | — |
| Downside capture | — | — |
| Tracking error | — | — |
| Information ratio | — | — |
| Treynor ratio | — | — |
Portfolio
Asset mix
| Capitalmind Arbitrage | SBI Arbitrage | |
|---|---|---|
| Equity | 77.93% | 77.15% |
| Mutual Fund Units | 14.84% | 0.00% |
| Cash & equivalents | 6.58% | 2.08% |
| Debt | 0.65% | 6.46% |
| ETF Units | 0.00% | 14.31% |
Market-cap split (share of fund assets)
| Capitalmind Arbitrage | SBI Arbitrage | |
|---|---|---|
| Large Cap | 52.53% | 61.80% |
| Mid Cap | 17.84% | 13.20% |
| Small Cap | 7.56% | 2.15% |
| Unclassified | 0.00% | 0.00% |
Concentration
| Capitalmind Arbitrage | SBI Arbitrage | |
|---|---|---|
| Top 10 holdings | 53.10% | 40.07% |
| Effective number of stocks ⓘ | 22.2 | 42.2 |
| Securities held | 50 | 200 |
Portfolio overlap: 33.4%
48 companies are held by both funds; by weight, 33.4% of the two portfolios is the same. That is a moderate overlap.
| Held by both | Capitalmind Arbitrage | SBI Arbitrage |
|---|---|---|
| Reliance Industries Limited | 5.45% | 5.58% |
| ICICI Bank Limited | 4.45% | 2.75% |
| HDFC Bank Limited | 2.42% | 4.92% |
| Bharti Airtel Limited | 2.92% | 2.39% |
| Axis Bank Limited | 3.35% | 2.31% |
| Hindustan Aeronautics Limited | 2.14% | 1.16% |
| Bharat Electronics Limited | 0.97% | 1.36% |
| State Bank of India | 0.94% | 3.68% |
| Bajaj Finance Limited | 0.94% | 1.57% |
| Canara Bank | 5.64% | 0.89% |
| Larsen & Toubro Limited | 1.73% | 0.87% |
| Adani Energy Solutions Limited | 1.16% | 0.81% |
| Vodafone Idea Limited | 0.81% | 1.10% |
| Bank of Baroda | 1.18% | 0.78% |
| Punjab National Bank | 0.79% | 0.78% |
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%
SBI Arbitrage
- SBI Liquid Fund - Direct Plan - Growth Option7.25%
- SBI Money Market Fund - Direct Plan - Growth Option7.06%
- Reliance Industries Limited5.58%
- HDFC Bank Limited4.92%
- State Bank of India3.68%
- ICICI Bank Limited2.75%
- HDFC Bank Ltd (18-Jan-2027)2.54%
- Bharti Airtel Limited2.39%
- Axis Bank Limited2.31%
- Tata Steel Ltd.1.59%
Sector exposure
| Capitalmind Arbitrage | SBI Arbitrage | |
|---|---|---|
| Banks | 19.33% | 20.04% |
| Unclassified | 14.84% | 0.00% |
| Mutual Fund/ETF | 0.00% | 14.31% |
| Petroleum Products | 6.89% | 6.35% |
| Finance | 5.78% | 5.68% |
| IT - Software | 5.67% | 2.29% |
| Telecom - Services | 4.84% | 4.10% |
| Minerals & Mining | 4.74% | 0.42% |
| Power | 1.16% | 4.34% |
| Ferrous Metals | 3.36% | 3.79% |
| CARE A1+ | 0.00% | 3.60% |
| Construction | 3.51% | 1.08% |
| Pharmaceuticals & Biotechnology | 2.66% | 3.37% |
| Aerospace & Defense | 3.11% | 2.52% |
Questions people ask
What is the difference between Capitalmind Arbitrage and SBI Arbitrage returns?
As of 6 Nov 2026, Direct plan Growth option: 1-year return — vs +6.65%; 3-year CAGR — vs +7.27%; 5-year CAGR — vs +6.86%; 10-year CAGR — vs +6.25%. Past returns do not indicate future returns.
How do Capitalmind Arbitrage and SBI Arbitrage compare on risk?
Volatility (36 monthly returns, annualised) — vs 0.54%; Sharpe ratio — vs 1.43; Sortino ratio — vs 2.28; maximum drawdown −0.55% vs −0.65%; beta — vs —.
How much do Capitalmind Arbitrage and SBI Arbitrage overlap?
By weight, 33.4% of the two portfolios is invested in the same companies; 48 stocks are held by both, the largest shared positions being Reliance Industries Limited, ICICI Bank Limited, HDFC Bank 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 SBI Arbitrage?
Capitalmind Arbitrage: large cap 52.5%, mid cap 17.8%, small cap 7.6%. SBI Arbitrage: large cap 61.8%, mid cap 13.2%, small cap 2.2% (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 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.