Union Arbitrage Fund
Union Mutual Fund · Arbitrage · Direct plan, growth option
NAV (₹), 1 Oct 2026
15.6993
1-day change
-0.03%
1Y return
6.6%
3Y CAGR
7.2%
5Y CAGR
6.5%
Max drawdown, 5Y
−0.6%
NAV history month-end NAV, ₹ · 27 Feb 2019 to 1 Oct 2026
Returns vs Arbitrage median (39 schemes)
| Period | Scheme | Category median |
|---|---|---|
| 1 month | 0.3% | 0.2% |
| 3 months | 1.6% | 1.5% |
| 6 months | 3.3% | 3.2% |
| Year to date | 4.9% | 4.9% |
| 1 year | 6.6% | 6.6% |
| 3 years (CAGR) | 7.2% | 7.3% |
| 5 years (CAGR) | 6.5% | 6.7% |
| 7 years (CAGR) | 6.0% | 6.2% |
| 10 years (CAGR) | n/a | 6.4% |
| Since first NAV (CAGR) | 6.1% | – |
Rolling returns every business-day start date
| Measure | Scheme | Category median |
|---|---|---|
| 1Y rolling median | 6.3% | 6.9% |
| 3Y rolling median | 6.1% | 6.7% |
| 3Y rolling worst | 4.2% | 4.5% |
| 3Y periods positive | 100% | 100% |
| 3Y periods ahead of benchmark | n/a | n/a |
| 5Y rolling median | 5.9% | 6.1% |
| 5Y rolling worst | 5.6% | 5.4% |
| 5Y periods ahead of benchmark | n/a | n/a |
Benchmark: none available in MFIC's free data for this category.
Risk 36 months, monthly returns, Rf 6.5%
| Measure | Scheme | Category median |
|---|---|---|
| Standard deviation (ann.) | 0.6% | 0.6% |
| Sharpe ratio | 0.72 | 0.92 |
| Sortino ratio | 1.04 | 1.33 |
| Beta | n/a | n/a |
| Alpha (ann.) | n/a | n/a |
| Upside capture | n/a | n/a |
| Downside capture | n/a | n/a |
Drawdowns peak-to-trough falls in NAV
| Measure | Scheme | Category median |
|---|---|---|
| Maximum drawdown, full history | −0.6% | −0.6% |
| Maximum drawdown, last 10Y | n/a | −0.6% |
| Maximum drawdown, last 5Y | −0.6% | −0.4% |
| Current drawdown | 0.0% | 0.0% |
| Recovery time of worst fall | n/a | – |
Longer histories include more crises, so compare the 5Y and 10Y figures across schemes of different ages.
Market context from Integrato Market Intelligence
This scheme hold only part of their money in each of these markets; the mix is set by the scheme and changes over time.
- 1Y +6.4% · 3Y +6.8% p.a. · 5Y +6.3% p.a. (index fund NAV, after costs)
- At its 52-week high (proxy NAV)
5.50%
1 Jul 2026 · −0.25 pp in a year · 5Y average 5.90%
Index levels and P/E: NSE daily index closing values; gold and silver: IBJA rates; returns: growth NAV of an index fund or ETF tracking the market (AMFI), so they are after that fund's costs. Context only: a market's level or valuation does not tell you how any scheme will perform. Explore all markets.
Direct or Regular for this scheme?
The Regular plan's expense ratio is 2.23% a year and the Direct plan's 1.61%, a gap of 0.62%; over the last 3 years the Direct plan returned 0.64 percentage points a year more. On a ₹25,000 monthly SIP for 20 years (illustration at 12% a year before costs) the gap adds up to about ₹13,44,609.
With the Regular plan, that cost pays a distributor to help you plan, choose and review funds, and stay invested when markets fall. Whether it is worth it depends on how much of that you will do yourself.
TER: AMFI TER disclosure. Returns: AMFI NAVs. Illustration, not a guaranteed saving or return.
Recent disclosure changes last 120 days, as disclosed via AMFI
- 1 Oct 2026: TER increased from 1.55% to 1.61% (AMFI TER disclosure)
- 11 Sep 2026: TER increased from 1.54% to 1.55% (AMFI TER disclosure)
Fund managers and scheme facts Scheme Summary Document via AMFI
| Fund manager | Role | Managing since |
|---|---|---|
| Vishal Thakker | comanage | 20 Feb 2019 |
| Devesh Thacker | comanage | 20 Feb 2019 |
Objective: The investment objective of the scheme is to generate capital appreciation and income by predominantly investing in arbitrage opportunities in the cash and derivatives segment of the equity market, and by investing the balance in debt and money market instruments. However, there is no assurance that the Investment Objective of the scheme will be achieved.
Stated asset allocation: Equity and Equity related instruments (as part of hedged / arbitrage exposure)*: 65% - 90% of net assets; Debt and Money Market Instruments including margin money deployed for derivatives transactions**: 10%-35% of net assets. *Equity allocation so built, at any point in time, would be completely hedged out, using derivative instruments that provide an equal but opposite exposure, thereby making the Net exposure market neutral. In case the fund is not able to have a net market-neutral position due to any operational reason such as short delivery in the cash market etc., the fund will endeavour to rebalance the portfolio to a net market-neutral position at the earliest. **Exposure in debt in…
Benchmark (tier 1): NIFTY 50 Arbitrage Index# #Benchmark Disclaimer: The “Product” offered by “the issuer” is not sponsored, endorsed, sold or promoted by NSE Indices Limited (Formerly Indian Index Services & Products Limited) (IISL). NSE Indices Limited does not make any representation or warranty, express or implied (including warranties of merchantability or fitness for particular purpose or use) and disclaims all liability to the owners of “the Product” or any member of the public regarding the advisability of investing in securities generally or in the “the Product” linked to NIFTY 50 Arbitrage Indexor particularly in the ability of the NIFTY 50 Arbitrage Index, to track general stock market performance in India. Please read the full Disclaimer in relation to the NIFTY 50 Arbitrage Index in the Scheme Information Document.
Exit load: 0.25% if units are redeemed or switched out on or before completion of 1 month from the date of allotment of units. Nil if units are redeemed or switched out after completion of 1 month from the date of allotment of units
Minimum application: ₹1,000
Allotment date: 20 Feb 2019
Documents: Scheme Information Document · Scheme Summary Document. Read the scheme documents before investing.
Cost, size and riskometer as disclosed to AMFI
| Measure | Scheme | Category median |
|---|---|---|
| Expense ratio (TER), Direct plan | 1.61% | 1.45% |
| AUM, whole scheme (₹ crore) | 220 | 1,648 |
| Riskometer | Low | – |
TER: AMFI, TER of MF Schemes. AUM and riskometer: AMFI, Fund Performance, 30 Sep 2026.
Official benchmark and category consistency
| Measure | Scheme | Benchmark / category |
|---|---|---|
| Return, 1 year (AMFI) | 6.7% | 7.3% TRI |
| Return, 3 years (AMFI) | 7.2% | 7.4% TRI |
| Return, 5 years (AMFI) | 6.5% | 6.7% TRI |
| Month-ends above category median (3Y CAGR) | 0% | 44% median |
| Month-ends in category top quartile (3Y) | 0% | 7% median |
Official benchmark: Nifty 50 Arbitrage Index (total return index, as published by AMFI). Category consistency: last 10 years of month-ends, Arbitrage Direct plans; how it is calculated.
Calendar-year returns NAV change from 31 Dec to 31 Dec
| Year | Scheme | Benchmark | Difference |
|---|---|---|---|
| 2026 YTD | 4.9% | n/a | – |
| 2025 | 6.6% | n/a | – |
| 2024 | 8.2% | n/a | – |
| 2023 | 7.6% | n/a | – |
| 2022 | 4.3% | n/a | – |
| 2021 | 4.1% | n/a | – |
| 2020 | 5.0% | n/a | – |
No free benchmark proxy for this category. The first year starts from the first 31 December in the scheme's history.
Monthly SIP of ₹10,000 first business day of each month, ending 1 Oct 2026
| Period | Invested | Value | XIRR |
|---|---|---|---|
| 1 year | ₹1,20,000 | ₹1,24,178 | 6.5% |
| 3 years | ₹3,60,000 | ₹3,99,122 | 6.8% |
| 5 years | ₹6,00,000 | ₹7,15,086 | 7.0% |
Uses this plan's NAVs; ignores stamp duty, exit loads and taxes. One historical path only — the interactive SIP analyzer shows outcomes across every start date.
Scheme facts
AMC: Union Mutual Fund
Category: Arbitrage
Plan / option: Direct · Growth
AMFI scheme code: 146297
ISIN: INF582M01ES7
First NAV in MFIC data: 27 Feb 2019
History: 7.6 years
Portfolio holdings: see the scheme's monthly portfolio disclosure on the fund house website
Schemes that behaved similarly correlation of monthly returns, last 5 years
| Scheme | Category | Correlation | 3Y CAGR |
|---|---|---|---|
| HSBC Arbitrage Fund | Arbitrage | 0.97 | 7.2% |
| Edelweiss Arbitrage Fund | Arbitrage | 0.96 | 7.4% |
| DSP Arbitrage fund | Arbitrage | 0.96 | 7.2% |
| Bajaj Finserv Arbitrage Fund | Arbitrage | 0.96 | 7.0% |
| ICICI Prudential Arbitrage Fund | Arbitrage | 0.96 | 7.3% |
| Tata Arbitrage Fund | Arbitrage | 0.96 | 7.5% |
Questions about Union Arbitrage Fund
- What is the latest NAV of Union Arbitrage Fund?
- The NAV of the Direct plan (growth option) was ₹15.6993 on 1 Oct 2026, as published by AMFI.
- Which category is Union Arbitrage Fund in?
- It is classified as Arbitrage in AMFI's daily NAV file; a Arbitrage scheme holds largely hedged equity arbitrage positions. MFIC compares it with 39 Arbitrage schemes (Direct plans).
- What returns has Union Arbitrage Fund delivered?
- Over one year the NAV changed by 6.6%. The 3-year CAGR is 7.2% (category median 7.3%) and the 5-year CAGR is 6.5% (category median 6.7%). Returns are after expenses and before tax. Past performance may or may not be sustained in future.
- How consistent have its 3-year returns been?
- Measuring a 3-year CAGR from every business day in its history, the median was 6.1%, the lowest was 4.2%, and 100% of 3-year periods ended with a gain.
- What was the largest fall in Union Arbitrage Fund's NAV?
- The largest peak-to-trough fall in its available history was 0.6%; within the last five years it was 0.6% (category median 0.4%).
- How volatile is Union Arbitrage Fund?
- Its annualised standard deviation of monthly returns over the last 36 months is 0.6%, which is above the Arbitrage category median of 0.6%.
- What would a monthly SIP in Union Arbitrage Fund have grown to?
- A SIP of ₹10,000 on the first business day of each month for the last 5 years (60 instalments, ₹6,00,000 invested) would have been worth about ₹7,15,086 on 1 Oct 2026, an annualised return (XIRR) of 7.0%. This uses the Direct plan's NAVs, ignores taxes and exit loads, and past performance may or may not be sustained in future.
- What is the expense ratio (TER) of Union Arbitrage Fund?
- The total expense ratio of the Direct plan is 1.61% a year, as disclosed to AMFI (median of Arbitrage Direct plans: 1.45%). It is already deducted from the NAV, so every return shown is after expenses.
- How large is Union Arbitrage Fund?
- Assets under management of the whole scheme were ₹220 crore on 30 Sep 2026, as published by AMFI.
- What is the riskometer level of Union Arbitrage Fund?
- AMFI lists the scheme's riskometer as “Low”, and its benchmark's as “Low”. The riskometer is a label of potential risk set under SEBI rules, not a forecast.
- What is the benchmark of Union Arbitrage Fund and how has it compared?
- Its official benchmark is the Nifty 50 Arbitrage Index. Over 3 years AMFI reports a return of 7.2% for this plan against 7.4% for the benchmark total return index; over 5 years 6.5% against 6.7%. Past performance does not indicate future results.
- How often has Union Arbitrage Fund beaten its category?
- At 0% of the 56 month-ends compared over the last 10 years, its 3-year return was above the median of Arbitrage schemes (Direct plans); it was in the top quarter at 0% of them. A typical scheme would show about 50%.
- Who manages Union Arbitrage Fund?
- According to its Scheme Summary Document, Union Arbitrage Fund is managed by Vishal Thakker (since 20 Feb 2019), Devesh Thacker (since 20 Feb 2019).
- What is the exit load of Union Arbitrage Fund?
- As stated in its scheme documents: 0.25% if units are redeemed or switched out on or before completion of 1 month from the date of allotment of units. Nil if units are redeemed or switched out after completion of 1 month from the date of allotment of units Check the latest Scheme Information Document before investing, as loads can change.
- What is the minimum investment in Union Arbitrage Fund?
- The minimum application amount is ₹1,000. SIP details: SIP - Rs. 100 for daily SIP, Rs. 500 for weekly SIP, Rs. 500 for fortnightly SIP, Rs. 500 for monthly SIP, STP - Rs. 100 for all frequencies SWP - Rs. 500 for all frequencies.
- What is the difference between the Direct and Regular plans?
- Both plans hold the same portfolio; the Regular plan includes distribution costs in its expense ratio. Over one year the Direct plan's NAV changed by 6.6% and the Regular plan's by 6.0%. The Regular plan includes the services of a distributor.
Reviewing your own mutual fund portfolio?
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Data & disclosure. Source: AMFI daily NAV file and historical NAVs via mfapi.in; calculations by MFIC, as of 1 Oct 2026. Category medians use Direct plans in the same AMFI category. Mutual fund investments are subject to market risks; read all scheme-related documents carefully. Past performance may or may not be sustained in future. This page is for research and education only and is not investment advice or a recommendation to buy, sell or hold any scheme. Integrato Financial Services Pvt. Ltd. is an AMFI-registered Mutual Fund Distributor (ARN-173155). Methodology.