JioBlackRock Arbitrage Fund vs Kotak Arbitrage Fund
JioBlackRock Arbitrage Fund and Kotak Arbitrage Fund are both Arbitrage funds. As of 5 Nov 2026 (Direct plan, Growth option): 3-year CAGR — vs +7.40%, 5-year CAGR — vs +6.97%, volatility — vs 0.63%, maximum drawdown −0.42% vs −0.57%. Their portfolios overlap by -33.3% (114 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
| JioBlackRock Arbitrage | Kotak Arbitrage | |
|---|---|---|
| Fund house | Jio BlackRock Mutual Fund | Kotak Mahindra Mutual Fund |
| Compared as | Arbitrage | Arbitrage |
| NAV | ₹10.6199 | ₹43.6278 |
| NAV date | 5 Nov 2026 | 5 Nov 2026 |
| Launched (first NAV) | 19 Dec 2025 | 7 Jan 2013 |
| Track record | 0.9 yrs | 13.8 yrs |
| Fund size (AUM) | ₹1,117 Cr | ₹21,471 Cr |
| Securities held | 121 | 215 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| JioBlackRock Arbitrage | Kotak Arbitrage | |
|---|---|---|
| 1 month | +0.47% | +0.42% |
| 3 months | +1.75% | +1.56% |
| 6 months | +3.37% | +3.26% |
| 1 year | — | +6.66% |
| 3 years (CAGR) | — | +7.40% |
| 5 years (CAGR) | — | +6.97% |
| 7 years (CAGR) | — | +6.34% |
| 10 years (CAGR) | — | +6.45% |
| Since launch (CAGR) | — | +7.07% |
| SIP return (XIRR, 5 years) ⓘ | — | +7.24% |
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
| JioBlackRock Arbitrage | Kotak Arbitrage | |
|---|---|---|
| 2026 (year to date) | +5.86% | +5.60% |
| 2025 | — | +7.06% |
| 2024 | — | +8.47% |
| 2023 | — | +8.01% |
| 2022 | — | +5.14% |
| 2021 | — | +4.56% |
Risk
| JioBlackRock Arbitrage | Kotak Arbitrage | |
|---|---|---|
| Volatility (annualised) ⓘ | — | 0.63% |
| Downside volatility ⓘ | — | 0.40% |
| Sharpe ratio ⓘ | — | 1.46 |
| Sortino ratio ⓘ | — | 2.30 |
| Maximum drawdown ⓘ | −0.42% | −0.57% |
| Recovery from that fall | 0 months | 2 months |
| Current fall from peak | −0.11% | −0.11% |
| Rolling 1-year return: worst | — | +3.63% |
| Rolling 1-year return: median | — | +6.88% |
| Rolling 1-year return: best | — | +10.71% |
| Share of 1-year periods with a loss | — | 0.00% |
Against each fund's benchmark
| JioBlackRock Arbitrage | Kotak Arbitrage | |
|---|---|---|
| Beta ⓘ | — | — |
| Alpha (Jensen's, annualised) ⓘ | — | — |
| R² ⓘ | — | — |
| Upside capture | — | — |
| Downside capture | — | — |
| Tracking error | — | — |
| Information ratio | — | — |
| Treynor ratio | — | — |
Portfolio
Asset mix
| JioBlackRock Arbitrage | Kotak Arbitrage | |
|---|---|---|
| Equity | 74.08% | -40.36% |
| Mutual Fund Units | 13.99% | 21.75% |
| Debt | 8.77% | 5.76% |
| Cash & equivalents | 3.15% | 1.36% |
Market-cap split (share of fund assets)
| JioBlackRock Arbitrage | Kotak Arbitrage | |
|---|---|---|
| Large Cap | 56.64% | -28.42% |
| Mid Cap | 13.54% | -11.35% |
| Small Cap | 3.90% | -0.59% |
| Unclassified | 0.00% | 0.00% |
Concentration
| JioBlackRock Arbitrage | Kotak Arbitrage | |
|---|---|---|
| Top 10 holdings | 57.17% | 26.86% |
| Effective number of stocks ⓘ | 24 | 52.1 |
| Securities held | 121 | 215 |
Portfolio overlap: -33.3%
114 companies are held by both funds; by weight, -33.3% of the two portfolios is the same. That is a low overlap: the two portfolios are largely different.
| Held by both | JioBlackRock Arbitrage | Kotak Arbitrage |
|---|---|---|
| Canara Bank | 4.38% | 0.03% |
| ICICI Bank Limited | 7.14% | 0.00% |
| Canara Bank | 4.85% | 0.00% |
| Life Insurance Corporation Of India | 3.72% | 0.00% |
| Tata Steel Ltd. | 1.74% | 0.00% |
| Crompton Greaves Consumer Electricals Limited | 1.67% | 0.00% |
| Adani Enterprises Limited | 1.58% | 0.00% |
| Bank of Baroda | 1.22% | 0.00% |
| Adani Power Limited | 1.00% | 0.00% |
| Varun Beverages Limited | 0.93% | 0.00% |
| PG Electroplast Limited | 0.82% | 0.00% |
| IndusInd Bank Limited | 0.70% | 0.00% |
| HCL Technologies Ltd. | 0.66% | 0.00% |
| Manappuram Finance Limited | 0.65% | 0.00% |
| IDFC First Bank Limited | 0.62% | 0.00% |
Top 10 holdings
JioBlackRock Arbitrage
- JioBlackRock Money Market Fund - Direct Plan - Growth Option11.16%
- ICICI Bank Limited7.14%
- HDFC Bank Limited6.97%
- Reliance Industries Limited6.48%
- Vodafone Idea Limited5.24%
- Canara Bank4.85%
- HDFC Bank Ltd (18-Jan-2027)4.39%
- Canara Bank4.38%
- Life Insurance Corporation Of India3.72%
- JioBlackRock Liquid Fund - Direct Plan - Growth Option2.83%
Kotak Arbitrage
- Kotak Money Market Fund Direct Growth9.78%
- Kotak Savings Fund Direct Growth4.98%
- Kotak Low Duration Fund Direct Growth3.86%
- Kotak Liquid Direct Growth3.13%
- HDFC Bank Limited (15/02/2027)1.94%
- Small Industries Development Bank of India1.36%
- National Bank For Agriculture and Rural Development (17/02/2027)0.97%
- Canara Bank0.39%
- National Bank For Agriculture and Rural Development0.26%
- Small Industries Development Bank of India0.19%
Sector exposure
| JioBlackRock Arbitrage | Kotak Arbitrage | |
|---|---|---|
| Banks | 28.98% | -7.15% |
| Mutual Fund | 0.00% | 21.75% |
| Unclassified | 13.99% | 0.00% |
| Petroleum Products | 6.69% | -3.79% |
| Telecom - Services | 5.87% | -1.87% |
| CARE A1+ | 4.39% | 2.19% |
| CRISIL A1+ | 4.38% | 3.48% |
| Insurance | 3.79% | -0.07% |
| Consumer Durables | 3.08% | -0.03% |
| Finance | 2.45% | -3.92% |
| Industrial Products | 2.24% | -1.29% |
| IT - Software | 2.04% | -3.40% |
| Pharmaceuticals & Biotechnology | 1.93% | -2.48% |
| Ferrous Metals | 1.82% | -0.73% |
Questions people ask
What is the difference between JioBlackRock Arbitrage and Kotak Arbitrage returns?
As of 5 Nov 2026, Direct plan Growth option: 1-year return — vs +6.66%; 3-year CAGR — vs +7.40%; 5-year CAGR — vs +6.97%; 10-year CAGR — vs +6.45%. Past returns do not indicate future returns.
How do JioBlackRock Arbitrage and Kotak Arbitrage compare on risk?
Volatility (36 monthly returns, annualised) — vs 0.63%; Sharpe ratio — vs 1.46; Sortino ratio — vs 2.30; maximum drawdown −0.42% vs −0.57%; beta — vs —.
How much do JioBlackRock Arbitrage and Kotak Arbitrage overlap?
By weight, -33.3% of the two portfolios is invested in the same companies; 114 stocks are held by both, the largest shared positions being Canara Bank, ICICI Bank Limited, Canara Bank. Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of JioBlackRock Arbitrage and Kotak Arbitrage?
JioBlackRock Arbitrage: large cap 56.6%, mid cap 13.5%, small cap 3.9%. Kotak Arbitrage: large cap -28.4%, mid cap -11.4%, small cap -0.6% (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.
More comparisons
JioBlackRock 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 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.