Edelweiss Arbitrage Fund vs Mahindra Manulife Arbitrage Fund
Edelweiss Arbitrage Fund and Mahindra Manulife Arbitrage Fund are both Arbitrage funds. As of 5 Nov 2026 (Direct plan, Growth option): 3-year CAGR +6.79% vs +6.38%, 5-year CAGR +6.29% vs +5.88%, volatility 0.61% vs 0.53%, maximum drawdown −0.54% vs −0.51%. Their portfolios overlap by 29.1% (35 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
| Edelweiss Arbitrage | Mahindra Manulife Arbitrage | |
|---|---|---|
| Fund house | Edelweiss Mutual Fund | Mahindra Manulife Mutual Fund |
| Compared as | Arbitrage | Arbitrage |
| NAV | ₹21.0177 | ₹13.9005 |
| NAV date | 5 Nov 2026 | 5 Nov 2026 |
| Launched (first NAV) | 30 Jun 2014 | 25 Aug 2020 |
| Track record | 12.4 yrs | 6.2 yrs |
| Fund size (AUM) | ₹4,347 Cr | ₹231 Cr |
| Securities held | 199 | 37 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| Edelweiss Arbitrage | Mahindra Manulife Arbitrage | |
|---|---|---|
| 1 month | +0.41% | +0.37% |
| 3 months | +1.50% | +1.44% |
| 6 months | +2.78% | +2.93% |
| 1 year | +6.05% | +6.14% |
| 3 years (CAGR) | +6.79% | +6.38% |
| 5 years (CAGR) | +6.29% | +5.88% |
| 7 years (CAGR) | +5.69% | — |
| 10 years (CAGR) | +5.84% | — |
| Since launch (CAGR) | +6.19% | +5.46% |
| SIP return (XIRR, 5 years) ⓘ | +6.60% | +6.24% |
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
| Edelweiss Arbitrage | Mahindra Manulife Arbitrage | |
|---|---|---|
| 2026 (year to date) | +5.00% | +5.09% |
| 2025 | +6.77% | +6.20% |
| 2024 | +7.70% | +6.97% |
| 2023 | +7.13% | +6.65% |
| 2022 | +4.37% | +4.04% |
| 2021 | +3.84% | +3.67% |
Risk
| Edelweiss Arbitrage | Mahindra Manulife Arbitrage | |
|---|---|---|
| Volatility (annualised) ⓘ | 0.61% | 0.53% |
| Downside volatility ⓘ | 0.42% | 0.45% |
| Sharpe ratio ⓘ | 0.51 | -0.21 |
| Sortino ratio ⓘ | 0.72 | -0.25 |
| Maximum drawdown ⓘ | −0.54% | −0.51% |
| Recovery from that fall | 3 months | 1 months |
| Current fall from peak | −0.10% | −0.13% |
| Rolling 1-year return: worst | +2.81% | +3.16% |
| Rolling 1-year return: median | +6.26% | +6.16% |
| Rolling 1-year return: best | +9.22% | +7.33% |
| Share of 1-year periods with a loss | 0.00% | 0.00% |
Against each fund's benchmark
| Edelweiss Arbitrage | Mahindra Manulife Arbitrage | |
|---|---|---|
| Beta ⓘ | — | — |
| Alpha (Jensen's, annualised) ⓘ | — | — |
| R² ⓘ | — | — |
| Upside capture | — | — |
| Downside capture | — | — |
| Tracking error | — | — |
| Information ratio | — | — |
| Treynor ratio | — | — |
Portfolio
Asset mix
| Edelweiss Arbitrage | Mahindra Manulife Arbitrage | |
|---|---|---|
| Equity | 69.09% | 67.03% |
| Debt | 29.19% | 0.00% |
| Cash & equivalents | -67.72% | 7.73% |
| Mutual Fund Units | 0.00% | 25.24% |
Market-cap split (share of fund assets)
| Edelweiss Arbitrage | Mahindra Manulife Arbitrage | |
|---|---|---|
| Large Cap | 51.31% | 59.33% |
| Mid Cap | 14.57% | 6.20% |
| Small Cap | 3.21% | 1.50% |
| Unclassified | 0.00% | 0.00% |
Concentration
| Edelweiss Arbitrage | Mahindra Manulife Arbitrage | |
|---|---|---|
| Top 10 holdings | 34.02% | 61.24% |
| Effective number of stocks ⓘ | 49.5 | 18 |
| Securities held | 199 | 37 |
Portfolio overlap: 29.1%
35 companies are held by both funds; by weight, 29.1% of the two portfolios is the same. That is a moderate overlap.
| Held by both | Edelweiss Arbitrage | Mahindra Manulife Arbitrage |
|---|---|---|
| ICICI Bank Limited | 5.42% | 5.99% |
| HDFC Bank Limited | 5.01% | 5.53% |
| Reliance Industries Limited | 2.66% | 2.98% |
| Axis Bank Limited | 1.53% | 4.68% |
| Bharti Airtel Limited | 1.50% | 3.28% |
| State Bank of India | 1.16% | 1.88% |
| Canara Bank | 1.15% | 2.70% |
| Indus Towers Limited | 1.71% | 1.11% |
| Hindalco Industries Limited | 1.08% | 4.22% |
| Bajaj Finance Limited | 0.77% | 4.81% |
| ITC Limited | 0.72% | 1.02% |
| NTPC Limited | 1.37% | 0.70% |
| IDFC First Bank Limited | 0.65% | 2.97% |
| Larsen & Toubro Limited | 0.64% | 2.68% |
| Tata Steel Ltd. | 0.56% | 2.80% |
Top 10 holdings
Edelweiss Arbitrage
- EDELWEISS LIQUID FUND - DIRECT PL -GR7.91%
- ICICI Bank Limited5.42%
- HDFC Bank Limited5.01%
- EDELWEISS MONEY MARKET FUND - DIRECT PL4.08%
- Reliance Industries Limited2.66%
- Adani Energy Solutions Limited2.01%
- Small Industries Development Bank of India2.00%
- Indus Towers Limited1.71%
- Adani Enterprises Limited1.61%
- Vodafone Idea Limited1.61%
Mahindra Manulife Arbitrage
- Mahindra Manulife Low Duration Fund - Direct Plan -Growth14.76%
- Mahindra Manulife Liquid Fund -Direct Plan -Growth10.48%
- ICICI Bank Limited5.99%
- HDFC Bank Limited5.53%
- Bajaj Finance Limited4.81%
- Axis Bank Limited4.68%
- Hindalco Industries Limited4.22%
- Tata Power Company Limited4.09%
- Kotak Mahindra Bank Limited3.40%
- Bharti Airtel Limited3.28%
Sector exposure
| Edelweiss Arbitrage | Mahindra Manulife Arbitrage | |
|---|---|---|
| Banks | 20.08% | 28.39% |
| Unclassified | 12.90% | 25.24% |
| CRISIL A1+ | 13.72% | 0.00% |
| Finance | 3.54% | 8.62% |
| Power | 5.21% | 4.79% |
| Telecom - Services | 4.82% | 4.39% |
| Non - Ferrous Metals | 1.39% | 4.22% |
| Pharmaceuticals & Biotechnology | 3.58% | 0.44% |
| Petroleum Products | 3.32% | 2.98% |
| Ferrous Metals | 2.66% | 2.86% |
| Construction | 0.86% | 2.68% |
| Automobiles | 2.03% | 0.00% |
| IT - Software | 1.92% | 0.14% |
| Diversified FMCG | 1.66% | 1.02% |
Questions people ask
What is the difference between Edelweiss Arbitrage and Mahindra Manulife Arbitrage returns?
As of 5 Nov 2026, Direct plan Growth option: 1-year return +6.05% vs +6.14%; 3-year CAGR +6.79% vs +6.38%; 5-year CAGR +6.29% vs +5.88%; 10-year CAGR +5.84% vs —. Past returns do not indicate future returns.
How do Edelweiss Arbitrage and Mahindra Manulife Arbitrage compare on risk?
Volatility (36 monthly returns, annualised) 0.61% vs 0.53%; Sharpe ratio 0.51 vs -0.21; Sortino ratio 0.72 vs -0.25; maximum drawdown −0.54% vs −0.51%; beta — vs —.
How much do Edelweiss Arbitrage and Mahindra Manulife Arbitrage overlap?
By weight, 29.1% of the two portfolios is invested in the same companies; 35 stocks are held by both, the largest shared positions being ICICI Bank Limited, HDFC 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 Edelweiss Arbitrage and Mahindra Manulife Arbitrage?
Edelweiss Arbitrage: large cap 51.3%, mid cap 14.6%, small cap 3.2%. Mahindra Manulife Arbitrage: large cap 59.3%, mid cap 6.2%, small cap 1.5% (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.