PGIM India Arbitrage Fund vs SBI Arbitrage Fund
PGIM India Arbitrage Fund and SBI Arbitrage Fund are both Arbitrage funds. As of 6 Nov 2026 (Direct plan, Growth option): 3-year CAGR +7.09% vs +7.27%, 5-year CAGR +6.53% vs +6.86%, volatility 0.56% vs 0.54%, maximum drawdown −0.71% vs −0.65%. Their portfolios overlap by 26.2% (25 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
| PGIM India Arbitrage | SBI Arbitrage | |
|---|---|---|
| Fund house | PGIM India Mutual Fund | SBI Mutual Fund |
| Compared as | Arbitrage | Arbitrage |
| NAV | ₹21.3467 | ₹39.1580 |
| NAV date | 6 Nov 2026 | 6 Nov 2026 |
| Launched (first NAV) | 8 Mar 2016 | 14 Jan 2013 |
| Track record | 10.7 yrs | 13.8 yrs |
| Fund size (AUM) | ₹98 Cr | ₹46,309 Cr |
| Securities held | 31 | 200 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| PGIM India Arbitrage | SBI Arbitrage | |
|---|---|---|
| 1 month | +0.63% | +0.55% |
| 3 months | +1.64% | +1.61% |
| 6 months | +3.36% | +3.24% |
| 1 year | +6.69% | +6.65% |
| 3 years (CAGR) | +7.09% | +7.27% |
| 5 years (CAGR) | +6.53% | +6.86% |
| 7 years (CAGR) | +5.94% | +6.12% |
| 10 years (CAGR) | +6.09% | +6.25% |
| Since launch (CAGR) | +6.12% | +6.84% |
| SIP return (XIRR, 5 years) ⓘ | +6.91% | +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
| PGIM India Arbitrage | SBI Arbitrage | |
|---|---|---|
| 2026 (year to date) | +5.72% | +5.60% |
| 2025 | +6.68% | +7.05% |
| 2024 | +7.85% | +8.11% |
| 2023 | +7.36% | +7.98% |
| 2022 | +4.48% | +5.09% |
| 2021 | +4.23% | +4.43% |
Risk
| PGIM India Arbitrage | SBI Arbitrage | |
|---|---|---|
| Volatility (annualised) ⓘ | 0.56% | 0.54% |
| Downside volatility ⓘ | 0.36% | 0.34% |
| Sharpe ratio ⓘ | 1.05 | 1.43 |
| Sortino ratio ⓘ | 1.64 | 2.28 |
| Maximum drawdown ⓘ | −0.71% | −0.65% |
| Recovery from that fall | 0 months | 1 months |
| Current fall from peak | −0.01% | −0.00% |
| Rolling 1-year return: worst | +3.51% | +2.67% |
| Rolling 1-year return: median | +6.45% | +6.77% |
| Rolling 1-year return: best | +8.13% | +9.89% |
| Share of 1-year periods with a loss | 0.00% | 0.00% |
Against each fund's benchmark
| PGIM India Arbitrage | SBI Arbitrage | |
|---|---|---|
| Beta ⓘ | — | — |
| Alpha (Jensen's, annualised) ⓘ | — | — |
| R² ⓘ | — | — |
| Upside capture | — | — |
| Downside capture | — | — |
| Tracking error | — | — |
| Information ratio | — | — |
| Treynor ratio | — | — |
Portfolio
Asset mix
| PGIM India Arbitrage | SBI Arbitrage | |
|---|---|---|
| Equity | 75.01% | 77.15% |
| Debt | 10.26% | 6.46% |
| Cash & equivalents | 3.86% | 2.08% |
| ETF Units | 0.00% | 14.31% |
Market-cap split (share of fund assets)
| PGIM India Arbitrage | SBI Arbitrage | |
|---|---|---|
| Large Cap | 63.65% | 61.80% |
| Mid Cap | 6.30% | 13.20% |
| Small Cap | 5.06% | 2.15% |
| Unclassified | 0.00% | 0.00% |
Concentration
| PGIM India Arbitrage | SBI Arbitrage | |
|---|---|---|
| Top 10 holdings | 59.29% | 40.07% |
| Effective number of stocks ⓘ | 21.9 | 42.2 |
| Securities held | 31 | 200 |
Portfolio overlap: 26.2%
25 companies are held by both funds; by weight, 26.2% of the two portfolios is the same. That is a moderate overlap.
| Held by both | PGIM India Arbitrage | SBI Arbitrage |
|---|---|---|
| Reliance Industries Limited | 9.33% | 5.58% |
| HDFC Bank Limited | 9.64% | 4.92% |
| ICICI Bank Limited | 9.63% | 2.75% |
| Bharti Airtel Limited | 5.19% | 2.39% |
| Axis Bank Limited | 5.39% | 2.31% |
| Vodafone Idea Limited | 5.01% | 1.10% |
| Punjab National Bank | 2.12% | 0.78% |
| Bank of Baroda | 1.72% | 0.78% |
| Jio Financial Services Limited | 1.04% | 0.77% |
| Varun Beverages Limited | 3.32% | 0.76% |
| Ambuja Cements Ltd. | 1.92% | 0.59% |
| Hindustan Unilever Ltd. | 0.46% | 0.56% |
| IndusInd Bank Limited | 0.97% | 0.43% |
| Cummins India Limited | 0.97% | 0.41% |
| Life Insurance Corporation Of India | 1.92% | 0.38% |
Top 10 holdings
PGIM India Arbitrage
- HDFC Bank Limited9.64%
- ICICI Bank Limited9.63%
- Reliance Industries Limited9.33%
- Axis Bank Limited5.39%
- Bharti Airtel Limited5.19%
- 182 Days Tbill (MD 19/11/2026)5.07%
- Vodafone Idea Limited5.01%
- PNB Housing Finance Limited3.64%
- Varun Beverages Limited3.32%
- HDFC Asset Management Company Limited3.07%
SBI Arbitrage
- SBI Liquid Fund - Direct Plan - Growth Option7.25%
- SBI Money Market Fund - Direct Plan - Growth Option7.06%
- Reliance Industries Limited5.58%
- HDFC Bank Limited4.92%
- State Bank of India3.68%
- ICICI Bank Limited2.75%
- HDFC Bank Ltd (18-Jan-2027)2.54%
- Bharti Airtel Limited2.39%
- Axis Bank Limited2.31%
- Tata Steel Ltd.1.59%
Sector exposure
| PGIM India Arbitrage | SBI Arbitrage | |
|---|---|---|
| Banks | 30.40% | 20.04% |
| Mutual Fund/ETF | 0.00% | 14.31% |
| Telecom - Services | 10.20% | 4.10% |
| Petroleum Products | 9.33% | 6.35% |
| Finance | 5.06% | 5.68% |
| SOVEREIGN | 5.27% | 0.00% |
| Capital Markets | 4.96% | 1.15% |
| Power | 0.00% | 4.34% |
| Ferrous Metals | 0.00% | 3.79% |
| CARE A1+ | 0.00% | 3.60% |
| Pharmaceuticals & Biotechnology | 0.00% | 3.37% |
| Beverages | 3.32% | 0.86% |
| SOV | 2.53% | 0.00% |
| Aerospace & Defense | 0.00% | 2.52% |
Questions people ask
What is the difference between PGIM India Arbitrage and SBI Arbitrage returns?
As of 6 Nov 2026, Direct plan Growth option: 1-year return +6.69% vs +6.65%; 3-year CAGR +7.09% vs +7.27%; 5-year CAGR +6.53% vs +6.86%; 10-year CAGR +6.09% vs +6.25%. Past returns do not indicate future returns.
How do PGIM India Arbitrage and SBI Arbitrage compare on risk?
Volatility (36 monthly returns, annualised) 0.56% vs 0.54%; Sharpe ratio 1.05 vs 1.43; Sortino ratio 1.64 vs 2.28; maximum drawdown −0.71% vs −0.65%; beta — vs —.
How much do PGIM India Arbitrage and SBI Arbitrage overlap?
By weight, 26.2% of the two portfolios is invested in the same companies; 25 stocks are held by both, the largest shared positions being Reliance Industries Limited, HDFC Bank Limited, ICICI Bank Limited. Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of PGIM India Arbitrage and SBI Arbitrage?
PGIM India Arbitrage: large cap 63.7%, mid cap 6.3%, small cap 5.1%. SBI Arbitrage: large cap 61.8%, mid cap 13.2%, small cap 2.2% (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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PGIM India 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.