Kotak Arbitrage Fund vs Tata Arbitrage Fund
Kotak Arbitrage Fund and Tata Arbitrage Fund are both Arbitrage funds. As of 6 Nov 2026 (Direct plan, Growth option): 3-year CAGR +7.45% vs +7.45%, 5-year CAGR +6.99% vs +6.92%, volatility 0.59% vs 0.56%, maximum drawdown −0.57% vs −0.57%. Their portfolios overlap by -68% (154 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
| Kotak Arbitrage | Tata Arbitrage | |
|---|---|---|
| Fund house | Kotak Mahindra Mutual Fund | Tata Mutual Fund |
| Compared as | Arbitrage | Arbitrage |
| NAV | ₹43.6844 | ₹16.4940 |
| NAV date | 6 Nov 2026 | 6 Nov 2026 |
| Launched (first NAV) | 7 Jan 2013 | 19 Dec 2018 |
| Track record | 13.8 yrs | 7.9 yrs |
| Fund size (AUM) | ₹21,471 Cr | ₹8,570 Cr |
| Securities held | 215 | 195 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| Kotak Arbitrage | Tata Arbitrage | |
|---|---|---|
| 1 month | +0.54% | +0.53% |
| 3 months | +1.60% | +1.57% |
| 6 months | +3.32% | +3.26% |
| 1 year | +6.80% | +6.83% |
| 3 years (CAGR) | +7.45% | +7.45% |
| 5 years (CAGR) | +6.99% | +6.92% |
| 7 years (CAGR) | +6.36% | +6.45% |
| 10 years (CAGR) | +6.46% | — |
| Since launch (CAGR) | +7.07% | +6.56% |
| SIP return (XIRR, 5 years) ⓘ | +7.28% | +7.27% |
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
| Kotak Arbitrage | Tata Arbitrage | |
|---|---|---|
| 2026 (year to date) | +5.74% | +5.67% |
| 2025 | +7.06% | +7.26% |
| 2024 | +8.47% | +8.36% |
| 2023 | +8.01% | +7.93% |
| 2022 | +5.14% | +4.86% |
| 2021 | +4.56% | +4.54% |
Risk
| Kotak Arbitrage | Tata Arbitrage | |
|---|---|---|
| Volatility (annualised) ⓘ | 0.59% | 0.56% |
| Downside volatility ⓘ | 0.35% | 0.33% |
| Sharpe ratio ⓘ | 1.60 | 1.72 |
| Sortino ratio ⓘ | 2.72 | 2.92 |
| Maximum drawdown ⓘ | −0.57% | −0.57% |
| Recovery from that fall | 2 months | 2 months |
| Current fall from peak | 0.00% | 0.00% |
| Rolling 1-year return: worst | +3.63% | +3.80% |
| Rolling 1-year return: median | +6.88% | +6.79% |
| Rolling 1-year return: best | +10.71% | +8.75% |
| Share of 1-year periods with a loss | 0.00% | 0.00% |
Against each fund's benchmark
| Kotak Arbitrage | Tata Arbitrage | |
|---|---|---|
| Beta ⓘ | — | — |
| Alpha (Jensen's, annualised) ⓘ | — | — |
| R² ⓘ | — | — |
| Upside capture | — | — |
| Downside capture | — | — |
| Tracking error | — | — |
| Information ratio | — | — |
| Treynor ratio | — | — |
Portfolio
Asset mix
| Kotak Arbitrage | Tata Arbitrage | |
|---|---|---|
| Mutual Fund Units | 21.75% | 13.02% |
| Debt | 5.76% | 21.71% |
| Cash & equivalents | 1.36% | 0.52% |
| Equity | -40.36% | -54.15% |
Market-cap split (share of fund assets)
| Kotak Arbitrage | Tata Arbitrage | |
|---|---|---|
| Large Cap | -28.42% | -40.21% |
| Mid Cap | -11.35% | -11.22% |
| Small Cap | -0.59% | -2.72% |
| Unclassified | 0.00% | 0.00% |
Concentration
| Kotak Arbitrage | Tata Arbitrage | |
|---|---|---|
| Top 10 holdings | 26.86% | 23.50% |
| Effective number of stocks ⓘ | 52.1 | 41.1 |
| Securities held | 215 | 195 |
Portfolio overlap: -68%
154 companies are held by both funds; by weight, -68% of the two portfolios is the same. That is a low overlap: the two portfolios are largely different.
| Held by both | Kotak Arbitrage | Tata Arbitrage |
|---|---|---|
| Small Industries Development Bank of India | 1.36% | 0.40% |
| Canara Bank | 0.39% | 0.10% |
| Bank of Baroda | 0.07% | 0.20% |
| Bank of Baroda | 0.06% | 0.40% |
| Canara Bank | 0.03% | 1.10% |
| SBI Life Insurance Company Limited | 0.00% | 0.00% |
| Voltas Limited | 0.00% | 0.00% |
| Bank of Maharashtra | 0.00% | 0.00% |
| CG Power and Industrial Solutions Limited | 0.00% | 0.00% |
| Britannia Industries Ltd. | 0.00% | 0.00% |
| Sun Pharmaceutical Industries Limited | 0.00% | -0.01% |
| HCL Technologies Ltd. | 0.00% | -0.01% |
| Pidilite Industries Limited | 0.00% | -0.01% |
| Max Healthcare Institute Limited | 0.00% | -0.01% |
| Hero MotoCorp Limited | -0.01% | 0.00% |
Top 10 holdings
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%
Tata Arbitrage
- TATA MONEY MARKET FUND12.05%
- ** - SMALL INDUST DEVLOP BANK OF INDIA - CD - 23/10/20262.03%
- National Bank For Agriculture and Rural Development (28/01/2027)1.49%
- National Bank for Financing Infrastructure and Development1.38%
- Small Industries Development Bank of India1.38%
- Small Industries Development Bank Of India.1.20%
- Canara Bank1.10%
- National Bank For Agriculture and Rural Development (17/03/2027)1.09%
- TATA ULTRA SHORT TERM FUND0.97%
- Power Finance Corporation Ltd.0.81%
Sector exposure
| Kotak Arbitrage | Tata Arbitrage | |
|---|---|---|
| Mutual Fund | 21.75% | 0.00% |
| CAPITAL MARKETS | 0.00% | 13.02% |
| CRISIL A1+ | 3.48% | 11.86% |
| CARE A1+ | 2.19% | 2.21% |
| CRISIL-A1+ | 0.00% | 2.03% |
| ICRA A1+ | 0.09% | 1.50% |
| IND - A1+ | 0.00% | 1.38% |
| CRISIL AAA | 0.00% | 1.01% |
| CRISIL - AAA | 0.00% | 0.81% |
| ICRA-AA+ | 0.00% | 0.31% |
| IND A1+ | 0.00% | 0.20% |
| ICRA AAA | 0.00% | 0.20% |
| CRISIL-AAA | 0.00% | 0.20% |
| Non - Ferrous Metals | 0.00% | -0.97% |
Questions people ask
What is the difference between Kotak Arbitrage and Tata Arbitrage returns?
As of 6 Nov 2026, Direct plan Growth option: 1-year return +6.80% vs +6.83%; 3-year CAGR +7.45% vs +7.45%; 5-year CAGR +6.99% vs +6.92%; 10-year CAGR +6.46% vs —. Past returns do not indicate future returns.
How do Kotak Arbitrage and Tata Arbitrage compare on risk?
Volatility (36 monthly returns, annualised) 0.59% vs 0.56%; Sharpe ratio 1.60 vs 1.72; Sortino ratio 2.72 vs 2.92; maximum drawdown −0.57% vs −0.57%; beta — vs —.
How much do Kotak Arbitrage and Tata Arbitrage overlap?
By weight, -68% of the two portfolios is invested in the same companies; 154 stocks are held by both, the largest shared positions being Small Industries Development Bank of India, Canara Bank, Bank of Baroda. Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of Kotak Arbitrage and Tata Arbitrage?
Kotak Arbitrage: large cap -28.4%, mid cap -11.4%, small cap -0.6%. Tata Arbitrage: large cap -40.2%, mid cap -11.2%, small cap -2.7% (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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Kotak 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 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.