Kotak Arbitrage Fund vs WhiteOak Capital Arbitrage Fund
Kotak Arbitrage Fund and WhiteOak Capital Arbitrage Fund are both Arbitrage funds. As of 6 Nov 2026 (Direct plan, Growth option): 3-year CAGR +7.45% vs —, 5-year CAGR +6.99% vs —, volatility 0.59% vs 0.57%, maximum drawdown −0.57% vs −0.42%. Their portfolios overlap by -34.5% (143 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 | WhiteOak Capital Arbitrage | |
|---|---|---|
| Fund house | Kotak Mahindra Mutual Fund | WhiteOak Capital Mutual Fund |
| Compared as | Arbitrage | Arbitrage |
| NAV | ₹43.6844 | ₹11.6420 |
| NAV date | 6 Nov 2026 | 6 Nov 2026 |
| Launched (first NAV) | 7 Jan 2013 | 10 Sep 2024 |
| Track record | 13.8 yrs | 2.2 yrs |
| Fund size (AUM) | ₹21,471 Cr | ₹2,623 Cr |
| Securities held | 215 | 173 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| Kotak Arbitrage | WhiteOak Capital Arbitrage | |
|---|---|---|
| 1 month | +0.54% | +0.59% |
| 3 months | +1.60% | +1.75% |
| 6 months | +3.32% | +3.57% |
| 1 year | +6.80% | +7.19% |
| 3 years (CAGR) | +7.45% | — |
| 5 years (CAGR) | +6.99% | — |
| 7 years (CAGR) | +6.36% | — |
| 10 years (CAGR) | +6.46% | — |
| Since launch (CAGR) | +7.07% | +7.25% |
| SIP return (XIRR, 5 years) ⓘ | +7.28% | — |
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 | WhiteOak Capital Arbitrage | |
|---|---|---|
| 2026 (year to date) | +5.74% | +6.09% |
| 2025 | +7.06% | +7.43% |
| 2024 | +8.47% | — |
| 2023 | +8.01% | — |
| 2022 | +5.14% | — |
| 2021 | +4.56% | — |
Risk
| Kotak Arbitrage | WhiteOak Capital Arbitrage | |
|---|---|---|
| Volatility (annualised) ⓘ | 0.59% | 0.57% |
| Downside volatility ⓘ | 0.35% | 0.36% |
| Sharpe ratio ⓘ | 1.60 | 1.30 |
| Sortino ratio ⓘ | 2.72 | 2.06 |
| Maximum drawdown ⓘ | −0.57% | −0.42% |
| Recovery from that fall | 2 months | 1 months |
| Current fall from peak | 0.00% | 0.00% |
| Rolling 1-year return: worst | +3.63% | +6.63% |
| Rolling 1-year return: median | +6.88% | +7.17% |
| Rolling 1-year return: best | +10.71% | +7.61% |
| Share of 1-year periods with a loss | 0.00% | 0.00% |
Against each fund's benchmark
| Kotak Arbitrage | WhiteOak Capital Arbitrage | |
|---|---|---|
| Beta ⓘ | — | — |
| Alpha (Jensen's, annualised) ⓘ | — | — |
| R² ⓘ | — | — |
| Upside capture | — | — |
| Downside capture | — | — |
| Tracking error | — | — |
| Information ratio | — | — |
| Treynor ratio | — | — |
Portfolio
Asset mix
| Kotak Arbitrage | WhiteOak Capital Arbitrage | |
|---|---|---|
| Mutual Fund Units | 21.75% | 13.85% |
| Debt | 5.76% | 12.90% |
| Cash & equivalents | 1.36% | 4.88% |
| Equity | -40.36% | 68.37% |
Market-cap split (share of fund assets)
| Kotak Arbitrage | WhiteOak Capital Arbitrage | |
|---|---|---|
| Large Cap | -28.42% | 43.85% |
| Mid Cap | -11.35% | 20.10% |
| Small Cap | -0.59% | 4.42% |
| Unclassified | 0.00% | 0.00% |
Concentration
| Kotak Arbitrage | WhiteOak Capital Arbitrage | |
|---|---|---|
| Top 10 holdings | 26.86% | 34.05% |
| Effective number of stocks ⓘ | 52.1 | 56.7 |
| Securities held | 215 | 173 |
Portfolio overlap: -34.5%
143 companies are held by both funds; by weight, -34.5% of the two portfolios is the same. That is a low overlap: the two portfolios are largely different.
| Held by both | Kotak Arbitrage | WhiteOak Capital Arbitrage |
|---|---|---|
| ICICI Bank Limited | 0.00% | 2.32% |
| Bharti Airtel Limited | 0.00% | 2.20% |
| Hindalco Industries Limited | 0.00% | 1.43% |
| TVS Motor Company Ltd. | 0.00% | 1.24% |
| Bank of Baroda | 0.00% | 0.05% |
| Indian Oil Corporation Limited | 0.00% | 0.35% |
| Maruti Suzuki India Limited | 0.00% | 0.98% |
| APL Apollo Tubes Limited | 0.00% | 0.67% |
| Lupin Limited | 0.00% | 0.59% |
| Shriram Finance Limited | 0.00% | 0.24% |
| GE Vernova T&D India Limited | 0.00% | 0.17% |
| Canara Bank | 0.00% | 0.51% |
| Hindustan Zinc Limited | 0.00% | 0.29% |
| IDFC First Bank Limited | 0.00% | 0.47% |
| Varun Beverages Limited | 0.00% | 0.21% |
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%
WhiteOak Capital Arbitrage
- Bandhan Money Market Fund -Direct Plan-Growth5.73%
- WhiteOak Capital Liquid Fund- Direct plan-GR5.27%
- HDFC Bank Limited5.17%
- Reliance Industries Limited3.93%
- Vodafone Idea Limited3.30%
- ICICI Bank Limited2.32%
- WhiteOak Cap Ultra Short Term Fund- Dir Pl-Gr Op2.28%
- Bharti Airtel Limited2.20%
- Axis Bank Limited1.97%
- Kotak Mahindra Bank Limited (21/12/2026)1.88%
Sector exposure
| Kotak Arbitrage | WhiteOak Capital Arbitrage | |
|---|---|---|
| Mutual Fund | 21.75% | 0.00% |
| Banks | -7.15% | 15.36% |
| Other | 0.00% | 13.85% |
| CRISIL A1+ | 3.48% | 10.23% |
| Telecom - Services | -1.87% | 5.51% |
| IT - Software | -3.40% | 5.51% |
| Petroleum Products | -3.79% | 4.96% |
| Finance | -3.92% | 4.88% |
| Pharmaceuticals & Biotechnology | -2.48% | 3.67% |
| Automobiles | -1.33% | 3.58% |
| Capital Markets | -0.27% | 3.13% |
| CARE A1+ | 2.19% | 1.13% |
| Insurance | -0.07% | 2.18% |
| Consumer Durables | -0.03% | 2.02% |
Questions people ask
What is the difference between Kotak Arbitrage and WhiteOak Capital Arbitrage returns?
As of 6 Nov 2026, Direct plan Growth option: 1-year return +6.80% vs +7.19%; 3-year CAGR +7.45% vs —; 5-year CAGR +6.99% vs —; 10-year CAGR +6.46% vs —. Past returns do not indicate future returns.
How do Kotak Arbitrage and WhiteOak Capital Arbitrage compare on risk?
Volatility (36 monthly returns, annualised) 0.59% vs 0.57%; Sharpe ratio 1.60 vs 1.30; Sortino ratio 2.72 vs 2.06; maximum drawdown −0.57% vs −0.42%; beta — vs —.
How much do Kotak Arbitrage and WhiteOak Capital Arbitrage overlap?
By weight, -34.5% of the two portfolios is invested in the same companies; 143 stocks are held by both, the largest shared positions being ICICI Bank Limited, Bharti Airtel Limited, Hindalco Industries Limited. Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of Kotak Arbitrage and WhiteOak Capital Arbitrage?
Kotak Arbitrage: large cap -28.4%, mid cap -11.4%, small cap -0.6%. WhiteOak Capital Arbitrage: large cap 43.9%, mid cap 20.1%, small cap 4.4% (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.