Groww Arbitrage Fund vs HDFC Arbitrage Fund
Groww Arbitrage Fund and HDFC Arbitrage Fund are both Arbitrage funds. As of 4 Nov 2026 (Direct plan, Growth option): 3-year CAGR — vs +7.25%, 5-year CAGR — vs +6.74%, volatility — vs 0.59%, maximum drawdown −0.55% vs −0.73%. Their portfolios overlap by 31% (40 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
| Groww Arbitrage | HDFC Arbitrage | |
|---|---|---|
| Fund house | Groww Mutual Fund | HDFC Mutual Fund |
| Compared as | Arbitrage | Arbitrage |
| NAV | ₹10.3219 | ₹21.9560 |
| NAV date | 4 Nov 2026 | 4 Nov 2026 |
| Launched (first NAV) | 29 Apr 2026 | 27 Mar 2014 |
| Track record | 0.5 yrs | 12.6 yrs |
| Fund size (AUM) | ₹70 Cr | ₹25,407 Cr |
| Securities held | 42 | 179 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| Groww Arbitrage | HDFC Arbitrage | |
|---|---|---|
| 1 month | +0.46% | +0.49% |
| 3 months | +1.31% | +1.41% |
| 6 months | +3.30% | +3.40% |
| 1 year | — | +6.62% |
| 3 years (CAGR) | — | +7.25% |
| 5 years (CAGR) | — | +6.74% |
| 7 years (CAGR) | — | +6.05% |
| 10 years (CAGR) | — | +6.13% |
| Since launch (CAGR) | — | +6.44% |
| SIP return (XIRR, 5 years) ⓘ | — | +7.08% |
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
| Groww Arbitrage | HDFC Arbitrage | |
|---|---|---|
| 2026 (year to date) | — | +5.54% |
| 2025 | — | +6.93% |
| 2024 | — | +8.22% |
| 2023 | — | +7.78% |
| 2022 | — | +4.73% |
| 2021 | — | +4.17% |
Risk
| Groww Arbitrage | HDFC Arbitrage | |
|---|---|---|
| Volatility (annualised) ⓘ | — | 0.59% |
| Downside volatility ⓘ | — | 0.38% |
| Sharpe ratio ⓘ | — | 1.29 |
| Sortino ratio ⓘ | — | 2.00 |
| Maximum drawdown ⓘ | −0.55% | −0.73% |
| Recovery from that fall | 1 months | 0 months |
| Current fall from peak | −0.13% | −0.10% |
| 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
| Groww Arbitrage | HDFC Arbitrage | |
|---|---|---|
| Beta ⓘ | — | — |
| Alpha (Jensen's, annualised) ⓘ | — | — |
| R² ⓘ | — | — |
| Upside capture | — | — |
| Downside capture | — | — |
| Tracking error | — | — |
| Information ratio | — | — |
| Treynor ratio | — | — |
Portfolio
Asset mix
| Groww Arbitrage | HDFC Arbitrage | |
|---|---|---|
| Equity | 73.05% | 67.53% |
| Mutual Fund Units | 22.19% | 18.38% |
| Cash & equivalents | -7,271.66% | 5.05% |
| Debt | 0.00% | 9.04% |
Market-cap split (share of fund assets)
| Groww Arbitrage | HDFC Arbitrage | |
|---|---|---|
| Large Cap | 63.49% | 55.58% |
| Mid Cap | 8.30% | 10.25% |
| Small Cap | 1.27% | 1.70% |
| Unclassified | 0.00% | 0.00% |
Concentration
| Groww Arbitrage | HDFC Arbitrage | |
|---|---|---|
| Top 10 holdings | 76.96% | 41.87% |
| Effective number of stocks ⓘ | 11.3 | 39.3 |
| Securities held | 42 | 179 |
Portfolio overlap: 31%
40 companies are held by both funds; by weight, 31% of the two portfolios is the same. That is a moderate overlap.
| Held by both | Groww Arbitrage | HDFC Arbitrage |
|---|---|---|
| ICICI Bank Limited | 8.50% | 5.04% |
| HDFC Bank Limited | 6.35% | 5.04% |
| Reliance Industries Limited | 6.91% | 3.39% |
| Bajaj Finance Limited | 2.38% | 1.80% |
| Tata Steel Ltd. | 2.84% | 1.55% |
| Canara Bank | 5.79% | 1.52% |
| Divi's Laboratories Limited | 4.94% | 1.26% |
| Kotak Mahindra Bank Limited | 0.96% | 1.44% |
| IDFC First Bank Limited | 1.19% | 0.95% |
| Bharti Airtel Limited | 0.84% | 3.31% |
| Indus Towers Limited | 2.28% | 0.81% |
| Bank of Baroda | 1.07% | 0.74% |
| Hindalco Industries Limited | 0.66% | 0.73% |
| ITC Limited | 1.30% | 0.59% |
| Varun Beverages Limited | 0.87% | 0.56% |
Top 10 holdings
Groww Arbitrage
- Groww Liquid Fund - Dir Plan Growth Opt22.19%
- ICICI Bank Limited8.50%
- TREPS 01-OCT-20267.53%
- Reliance Industries Limited6.90%
- Life Insurance Corporation Of India6.75%
- HDFC Bank Limited6.35%
- Canara Bank5.79%
- Divi's Laboratories Limited4.94%
- Solar Industries India Limited4.24%
- The Federal Bank Limited3.76%
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
| Groww Arbitrage | HDFC Arbitrage | |
|---|---|---|
| Banks | 29.91% | 22.20% |
| Unclassified | 29.72% | 18.38% |
| Petroleum Products | 6.90% | 4.42% |
| Insurance | 6.84% | 0.92% |
| Telecom - Services | 3.12% | 5.15% |
| Pharmaceuticals & Biotechnology | 5.03% | 2.97% |
| ICRA A1+ | 0.00% | 5.00% |
| Ferrous Metals | 2.84% | 4.52% |
| Finance | 4.46% | 4.33% |
| Chemicals & Petrochemicals | 4.24% | 0.32% |
| Automobiles | 0.69% | 3.07% |
| CRISIL A1+ | 0.00% | 2.51% |
| Diversified FMCG | 1.38% | 2.02% |
| Power | 0.15% | 1.72% |
Questions people ask
What is the difference between Groww Arbitrage and HDFC Arbitrage returns?
As of 4 Nov 2026, Direct plan Growth option: 1-year return — vs +6.62%; 3-year CAGR — vs +7.25%; 5-year CAGR — vs +6.74%; 10-year CAGR — vs +6.13%. Past returns do not indicate future returns.
How do Groww Arbitrage and HDFC Arbitrage compare on risk?
Volatility (36 monthly returns, annualised) — vs 0.59%; Sharpe ratio — vs 1.29; Sortino ratio — vs 2.00; maximum drawdown −0.55% vs −0.73%; beta — vs —.
How much do Groww Arbitrage and HDFC Arbitrage overlap?
By weight, 31% of the two portfolios is invested in the same companies; 40 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 Groww Arbitrage and HDFC Arbitrage?
Groww Arbitrage: large cap 63.5%, mid cap 8.3%, small cap 1.3%. 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.
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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 4 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.