Invesco India Arbitrage Fund vs LIC MF Arbitrage Fund
Invesco India Arbitrage Fund and LIC MF Arbitrage Fund are both Arbitrage funds. As of 6 Nov 2026 (Direct plan, Growth option): 3-year CAGR +7.47% vs +7.11%, 5-year CAGR +7.15% vs +6.66%, volatility 0.55% vs 0.48%, maximum drawdown −0.52% vs −0.65%. Their portfolios overlap by 28.7% (33 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
| Invesco India Arbitrage | LIC MF Arbitrage | |
|---|---|---|
| Fund house | Invesco Mutual Fund | LIC Mutual Fund |
| Compared as | Arbitrage | Arbitrage |
| NAV | ₹37.7019 | ₹15.7426 |
| NAV date | 6 Nov 2026 | 6 Nov 2026 |
| Launched (first NAV) | 2 Jan 2013 | 28 Jan 2019 |
| Track record | 13.8 yrs | 7.8 yrs |
| Fund size (AUM) | ₹30,396 Cr | ₹305 Cr |
| Securities held | 210 | 35 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| Invesco India Arbitrage | LIC MF Arbitrage | |
|---|---|---|
| 1 month | +0.54% | +0.58% |
| 3 months | +1.71% | +1.66% |
| 6 months | +3.41% | +3.31% |
| 1 year | +6.91% | +6.80% |
| 3 years (CAGR) | +7.47% | +7.11% |
| 5 years (CAGR) | +7.15% | +6.66% |
| 7 years (CAGR) | +6.43% | +5.92% |
| 10 years (CAGR) | +6.46% | — |
| Since launch (CAGR) | +6.95% | +5.99% |
| SIP return (XIRR, 5 years) ⓘ | +7.36% | +6.98% |
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
| Invesco India Arbitrage | LIC MF Arbitrage | |
|---|---|---|
| 2026 (year to date) | +5.79% | +5.76% |
| 2025 | +7.17% | +6.82% |
| 2024 | +8.32% | +7.81% |
| 2023 | +8.07% | +7.41% |
| 2022 | +5.85% | +4.96% |
| 2021 | +4.15% | +3.93% |
Risk
| Invesco India Arbitrage | LIC MF Arbitrage | |
|---|---|---|
| Volatility (annualised) ⓘ | 0.55% | 0.48% |
| Downside volatility ⓘ | 0.33% | 0.30% |
| Sharpe ratio ⓘ | 1.76 | 1.28 |
| Sortino ratio ⓘ | 2.96 | 2.06 |
| Maximum drawdown ⓘ | −0.52% | −0.65% |
| Recovery from that fall | 1 months | 3 months |
| Current fall from peak | −0.00% | 0.00% |
| Rolling 1-year return: worst | +3.62% | +2.68% |
| Rolling 1-year return: median | +6.81% | +6.37% |
| Rolling 1-year return: best | +9.40% | +8.23% |
| Share of 1-year periods with a loss | 0.00% | 0.00% |
Against each fund's benchmark
| Invesco India Arbitrage | LIC MF Arbitrage | |
|---|---|---|
| Beta ⓘ | — | — |
| Alpha (Jensen's, annualised) ⓘ | — | — |
| R² ⓘ | — | — |
| Upside capture | — | — |
| Downside capture | — | — |
| Tracking error | — | — |
| Information ratio | — | — |
| Treynor ratio | — | — |
Portfolio
Asset mix
| Invesco India Arbitrage | LIC MF Arbitrage | |
|---|---|---|
| Equity | 79.58% | 67.44% |
| Mutual Fund Units | 11.81% | 0.00% |
| Debt | 5.84% | 0.00% |
| Cash & equivalents | 2.77% | 3.72% |
| Unclassified | 0.00% | 28.87% |
Market-cap split (share of fund assets)
| Invesco India Arbitrage | LIC MF Arbitrage | |
|---|---|---|
| Large Cap | 53.92% | 63.96% |
| Mid Cap | 20.63% | 3.36% |
| Small Cap | 5.03% | 0.12% |
| Unclassified | 0.00% | 0.00% |
Concentration
| Invesco India Arbitrage | LIC MF Arbitrage | |
|---|---|---|
| Top 10 holdings | 35.01% | 76.99% |
| Effective number of stocks ⓘ | 52.1 | 13.1 |
| Securities held | 210 | 35 |
Portfolio overlap: 28.7%
33 companies are held by both funds; by weight, 28.7% of the two portfolios is the same. That is a moderate overlap.
| Held by both | Invesco India Arbitrage | LIC MF Arbitrage |
|---|---|---|
| HDFC Bank Limited | 5.58% | 8.80% |
| ICICI Bank Limited | 4.55% | 7.23% |
| Reliance Industries Limited | 3.48% | 5.98% |
| Axis Bank Limited | 2.20% | 3.22% |
| Bharti Airtel Limited | 2.16% | 4.96% |
| State Bank of India | 1.99% | 6.33% |
| Tata Steel Ltd. | 1.57% | 4.94% |
| Jio Financial Services Limited | 1.46% | 2.28% |
| Punjab National Bank | 1.03% | 0.80% |
| Hindustan Unilever Ltd. | 0.78% | 1.11% |
| Kotak Mahindra Bank Limited | 0.52% | 1.59% |
| Container Corporation of India Limited | 0.58% | 0.50% |
| Bank of Baroda | 0.50% | 0.60% |
| Indus Towers Limited | 0.77% | 0.40% |
| NTPC Limited | 0.24% | 0.72% |
Top 10 holdings
Invesco India Arbitrage
- HDFC Bank Limited5.58%
- Invesco India Money Market Fund-Direct Plan-Growth5.52%
- Invesco India Liquid Fund - Direct Plan - Growth5.22%
- ICICI Bank Limited4.55%
- Reliance Industries Limited3.48%
- Axis Bank Limited2.20%
- Vodafone Idea Limited2.20%
- Bharti Airtel Limited2.16%
- Adani Power Limited2.11%
- State Bank of India1.99%
LIC MF Arbitrage
- LIC MF ULTRA SHRT DUR FD -DIRECT PLAN15.63%
- LIC MF MONEY MARKET FUND-DIRECT PLAN-GR13.24%
- HDFC Bank Limited8.80%
- ICICI Bank Limited7.23%
- Hindalco Industries Limited6.66%
- State Bank of India6.33%
- Reliance Industries Limited5.98%
- Bharti Airtel Limited4.96%
- Tata Steel Ltd.4.94%
- Axis Bank Limited3.22%
Sector exposure
| Invesco India Arbitrage | LIC MF Arbitrage | |
|---|---|---|
| Banks | 23.34% | 29.19% |
| Unclassified | 11.81% | 28.87% |
| Non - Ferrous Metals | 0.66% | 6.66% |
| Finance | 6.11% | 2.34% |
| Petroleum Products | 4.41% | 5.98% |
| Telecom - Services | 5.13% | 5.36% |
| Ferrous Metals | 2.26% | 5.30% |
| IT - Software | 3.56% | 0.00% |
| Pharmaceuticals & Biotechnology | 3.23% | 0.15% |
| CRISIL A1+ | 3.20% | 0.00% |
| Capital Markets | 3.18% | 0.00% |
| Power | 3.12% | 1.01% |
| Industrial Products | 3.11% | 0.00% |
| Insurance | 0.89% | 2.75% |
Questions people ask
What is the difference between Invesco India Arbitrage and LIC MF Arbitrage returns?
As of 6 Nov 2026, Direct plan Growth option: 1-year return +6.91% vs +6.80%; 3-year CAGR +7.47% vs +7.11%; 5-year CAGR +7.15% vs +6.66%; 10-year CAGR +6.46% vs —. Past returns do not indicate future returns.
How do Invesco India Arbitrage and LIC MF Arbitrage compare on risk?
Volatility (36 monthly returns, annualised) 0.55% vs 0.48%; Sharpe ratio 1.76 vs 1.28; Sortino ratio 2.96 vs 2.06; maximum drawdown −0.52% vs −0.65%; beta — vs —.
How much do Invesco India Arbitrage and LIC MF Arbitrage overlap?
By weight, 28.7% of the two portfolios is invested in the same companies; 33 stocks are held by both, the largest shared positions being HDFC Bank Limited, ICICI 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 Invesco India Arbitrage and LIC MF Arbitrage?
Invesco India Arbitrage: large cap 53.9%, mid cap 20.6%, small cap 5.0%. LIC MF Arbitrage: large cap 64.0%, mid cap 3.4%, small cap 0.1% (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
Invesco India Arbitrage vs
- Invesco India Arbitrage vs Bajaj Finserv Arbitrage
- Invesco India Arbitrage vs Franklin India Arbitrage
- Invesco India Arbitrage vs JioBlackRock Arbitrage
- Invesco India Arbitrage vs NJ Arbitrage
- Invesco India Arbitrage vs Sundaram Arbitrage Fund(Formerly Known as Prinicpal Arbitrage Fund)
- Invesco India Arbitrage vs Zerodha CASE Arbitrage
All Arbitrage comparisons → · Compare up to six funds yourself → · Every fund in this category → · All comparisons →
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.