ITI Arbitrage Fund vs Nippon India Arbitrage Fund
ITI Arbitrage Fund and Nippon India Arbitrage Fund are both Arbitrage funds. As of 6 Nov 2026 (Direct plan, Growth option): 3-year CAGR +7.27% vs +7.30%, 5-year CAGR +6.28% vs +6.84%, volatility 0.59% vs 0.55%, maximum drawdown −0.58% vs −0.62%. Their portfolios overlap by 15% (26 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
| ITI Arbitrage | Nippon India Arbitrage | |
|---|---|---|
| Fund house | ITI Mutual Fund | Nippon India Mutual Fund |
| Compared as | Arbitrage | Arbitrage |
| NAV | ₹14.7270 | ₹31.2737 |
| NAV date | 6 Nov 2026 | 6 Nov 2026 |
| Launched (first NAV) | 12 Sep 2019 | 3 Jan 2013 |
| Track record | 7.2 yrs | 13.8 yrs |
| Fund size (AUM) | ₹65 Cr | ₹17,216 Cr |
| Securities held | 30 | 176 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| ITI Arbitrage | Nippon India Arbitrage | |
|---|---|---|
| 1 month | +0.62% | +0.54% |
| 3 months | +1.48% | +1.61% |
| 6 months | +2.94% | +3.32% |
| 1 year | +6.47% | +6.76% |
| 3 years (CAGR) | +7.27% | +7.30% |
| 5 years (CAGR) | +6.28% | +6.84% |
| 7 years (CAGR) | +5.51% | +6.27% |
| 10 years (CAGR) | — | +6.47% |
| Since launch (CAGR) | +5.53% | +7.07% |
| SIP return (XIRR, 5 years) ⓘ | +6.90% | +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
| ITI Arbitrage | Nippon India Arbitrage | |
|---|---|---|
| 2026 (year to date) | +5.37% | +5.69% |
| 2025 | +7.32% | +6.94% |
| 2024 | +8.03% | +8.23% |
| 2023 | +7.15% | +7.85% |
| 2022 | +3.23% | +4.94% |
| 2021 | +3.15% | +4.54% |
Risk
| ITI Arbitrage | Nippon India Arbitrage | |
|---|---|---|
| Volatility (annualised) ⓘ | 0.59% | 0.55% |
| Downside volatility ⓘ | 0.41% | 0.33% |
| Sharpe ratio ⓘ | 1.30 | 1.44 |
| Sortino ratio ⓘ | 1.90 | 2.42 |
| Maximum drawdown ⓘ | −0.58% | −0.62% |
| Recovery from that fall | 1 months | 0 months |
| Current fall from peak | −0.06% | −0.02% |
| Rolling 1-year return: worst | +2.49% | +3.66% |
| Rolling 1-year return: median | +6.24% | +6.99% |
| Rolling 1-year return: best | +8.65% | +10.33% |
| Share of 1-year periods with a loss | 0.00% | 0.00% |
Against each fund's benchmark
| ITI Arbitrage | Nippon India Arbitrage | |
|---|---|---|
| Beta ⓘ | — | — |
| Alpha (Jensen's, annualised) ⓘ | — | — |
| R² ⓘ | — | — |
| Upside capture | — | — |
| Downside capture | — | — |
| Tracking error | — | — |
| Information ratio | — | — |
| Treynor ratio | — | — |
Portfolio
Asset mix
| ITI Arbitrage | Nippon India Arbitrage | |
|---|---|---|
| Equity | 65.35% | 68.02% |
| Cash & equivalents | 19.83% | 4.03% |
| Mutual Fund Units | 14.82% | 23.60% |
| Debt | 0.00% | 4.35% |
Market-cap split (share of fund assets)
| ITI Arbitrage | Nippon India Arbitrage | |
|---|---|---|
| Large Cap | 35.38% | 51.72% |
| Mid Cap | 27.06% | 13.71% |
| Small Cap | 2.91% | 2.59% |
| Unclassified | 0.00% | 0.00% |
Concentration
| ITI Arbitrage | Nippon India Arbitrage | |
|---|---|---|
| Top 10 holdings | 52.77% | 46.67% |
| Effective number of stocks ⓘ | 22 | 24 |
| Securities held | 30 | 176 |
Portfolio overlap: 15%
26 companies are held by both funds; by weight, 15% of the two portfolios is the same. That is a low overlap: the two portfolios are largely different.
| Held by both | ITI Arbitrage | Nippon India Arbitrage |
|---|---|---|
| HDFC Bank Limited | 5.69% | 4.62% |
| Canara Bank | 1.37% | 1.17% |
| AU Small Finance Bank Limited | 2.34% | 0.96% |
| Bharti Airtel Limited | 3.22% | 0.91% |
| Larsen & Toubro Limited | 0.81% | 1.31% |
| Ambuja Cements Ltd. | 1.46% | 0.77% |
| Cummins India Limited | 4.56% | 0.76% |
| Adani Energy Solutions Limited | 0.69% | 1.04% |
| IndusInd Bank Limited | 2.14% | 0.60% |
| One 97 Communications Limited | 8.83% | 0.49% |
| Punjab National Bank | 0.56% | 0.47% |
| Hindustan Zinc Limited | 1.50% | 0.46% |
| ITC Limited | 0.70% | 0.46% |
| Varun Beverages Limited | 3.06% | 0.33% |
| Power Finance Corporation Limited | 4.44% | 0.30% |
Top 10 holdings
ITI Arbitrage
- ITI Liquid Fund - Direct Plan - Growth Option14.82%
- One 97 Communications Limited8.83%
- HDFC Bank Limited5.69%
- Cummins India Limited4.56%
- Power Finance Corporation Limited4.44%
- Adani Ports and Special Economic Zone Limited3.56%
- Bharti Airtel Limited3.22%
- Varun Beverages Limited3.06%
- AU Small Finance Bank Limited2.34%
- Shriram Finance Limited2.25%
Nippon India Arbitrage
- Nippon India Money Market Fund Dir Pl-Growth-Gr Op15.46%
- Nippon India Ultra Short Duration Fund- Dr Gr Op8.14%
- Reliance Industries Limited4.83%
- HDFC Bank Limited4.62%
- ICICI Bank Limited4.21%
- Axis Bank Limited2.45%
- State Bank of India2.02%
- JSW Steel Limited1.81%
- Bajaj Finance Limited1.71%
- Maruti Suzuki India Limited1.42%
Sector exposure
| ITI Arbitrage | Nippon India Arbitrage | |
|---|---|---|
| Unclassified | 14.82% | 23.60% |
| Banks | 15.33% | 20.12% |
| Financial Technology (Fintech) | 8.83% | 0.52% |
| Finance | 8.33% | 5.21% |
| Petroleum Products | 1.64% | 5.31% |
| Industrial Products | 4.56% | 1.64% |
| Insurance | 4.45% | 1.24% |
| Ferrous Metals | 0.00% | 4.32% |
| Automobiles | 0.00% | 3.68% |
| Transport Infrastructure | 3.56% | 0.07% |
| Non - Ferrous Metals | 3.28% | 1.24% |
| Telecom - Services | 3.22% | 2.85% |
| CRISIL A1+ | 0.00% | 3.16% |
| Beverages | 3.06% | 0.37% |
Questions people ask
What is the difference between ITI Arbitrage and Nippon India Arbitrage returns?
As of 6 Nov 2026, Direct plan Growth option: 1-year return +6.47% vs +6.76%; 3-year CAGR +7.27% vs +7.30%; 5-year CAGR +6.28% vs +6.84%; 10-year CAGR — vs +6.47%. Past returns do not indicate future returns.
How do ITI Arbitrage and Nippon India Arbitrage compare on risk?
Volatility (36 monthly returns, annualised) 0.59% vs 0.55%; Sharpe ratio 1.30 vs 1.44; Sortino ratio 1.90 vs 2.42; maximum drawdown −0.58% vs −0.62%; beta — vs —.
How much do ITI Arbitrage and Nippon India Arbitrage overlap?
By weight, 15% of the two portfolios is invested in the same companies; 26 stocks are held by both, the largest shared positions being HDFC Bank Limited, Canara Bank, AU Small Finance Bank Limited. Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of ITI Arbitrage and Nippon India Arbitrage?
ITI Arbitrage: large cap 35.4%, mid cap 27.1%, small cap 2.9%. Nippon India Arbitrage: large cap 51.7%, mid cap 13.7%, small cap 2.6% (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 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.