HDFC Arbitrage Fund
HDFC Mutual Fund · Arbitrage · Regular plan, growth option
NAV (₹), 1 Oct 2026
32.9230
1-day change
0.03%
1Y return
6.1%
3Y CAGR
6.7%
5Y CAGR
6.1%
Max drawdown, 5Y
−0.8%
NAV history month-end NAV, ₹ · 29 Oct 2007 to 1 Oct 2026
Returns vs Arbitrage median (41 schemes)
| Period | Scheme | Category median |
|---|---|---|
| 1 month | 0.2% | 0.2% |
| 3 months | 1.4% | 1.3% |
| 6 months | 3.0% | 2.9% |
| Year to date | 4.5% | 4.4% |
| 1 year | 6.1% | 6.0% |
| 3 years (CAGR) | 6.7% | 6.6% |
| 5 years (CAGR) | 6.1% | 6.0% |
| 7 years (CAGR) | 5.5% | 5.5% |
| 10 years (CAGR) | 5.6% | 5.7% |
| Since first NAV (CAGR) | 6.5% | – |
Rolling returns every business-day start date
| Measure | Scheme | Category median |
|---|---|---|
| 1Y rolling median | 6.5% | 6.3% |
| 3Y rolling median | 6.6% | 6.3% |
| 3Y rolling worst | 3.6% | 3.9% |
| 3Y periods positive | 100% | 100% |
| 3Y periods ahead of benchmark | n/a | n/a |
| 5Y rolling median | 6.3% | 5.6% |
| 5Y rolling worst | 4.5% | 4.8% |
| 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 | 0.04 | -0.26 |
| Sortino ratio | 0.06 | -0.32 |
| 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 | −0.8% | −0.6% |
| Maximum drawdown, last 10Y | −0.8% | −0.6% |
| Maximum drawdown, last 5Y | −0.8% | −0.5% |
| 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 2.04% a year and the Direct plan's 1.50%, a gap of 0.54%; over the last 3 years the Direct plan returned 0.57 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 ₹11,93,923.
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
- 18 Sep 2026: TER reduced from 2.09% to 2.04% (AMFI TER disclosure)
Fund managers and scheme facts Scheme Summary Document via AMFI
| Fund manager | Role | Managing since |
|---|---|---|
| Nandita Menezes | 29 Mar 2025 | |
| Arun Agarwal | 24 Aug 2020 | |
| Anil Bamboli | 1 Feb 2022 | |
| Gopal Agrawal | 4 Sep 2001 |
Objective: To generate income through arbitrage opportunities and permitted debt instruments.
Stated asset allocation: Under Normal Circumstances: Equity and Equity related instruments: 65%-90%; Derivatives including index futures, stock futures, index options and stock options, etc. : 65%-90%; Debt instruments^: 10%-35%; Under Defensive Circumstances: Equity and Equity related instruments: 0%- 65%; Derivatives including index futures, stock futures, index options and stock options, etc. : 0%-65%; Debt instruments^: 35%-100%; . ^CDs, government securities with maturities upto 1 year, Units of overnight, liquid, money market mutual funds or mutual fund schemes having Macaulay duration less than 1 year at the time of investment for meeting liquidity and margin requirements. For detailed asset allocation, refe…
Benchmark (tier 1): NIFTY 50 Arbitrage Index (Total Returns Index)
Exit load: • In respect of each purchase / switch-in of Units, an Exit load of 0.25% is payable if Units are redeemed / switched-out within 15 days from the date of allotment of units. • No Exit Load is payable if Units are redeemed/switched-out after 15 days from the date of allotment.
Minimum application: Rs.100
Allotment date: 23 Oct 2007
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), Regular plan | 2.04% | 2.07% |
| AUM, whole scheme (₹ crore) | 25,407 | 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) | 6.1% | 7.3% TRI |
| Return, 3 years (AMFI) | 6.7% | 7.4% TRI |
| Return, 5 years (AMFI) | 6.1% | 6.7% TRI |
| Month-ends above category median (3Y CAGR) | 33% | 26% median |
| Month-ends in category top quartile (3Y) | 11% | 0% median |
| 7Y rolling CAGR, median (monthly windows) | 5.6% | 5.7% median |
Official benchmark: Nifty 50 Arbitrage TRI (total return index, as published by AMFI). Category consistency: last 10 years of month-ends, Arbitrage Regular plans; how it is calculated.
Calendar-year returns NAV change from 31 Dec to 31 Dec
| Year | Scheme | Benchmark | Difference |
|---|---|---|---|
| 2026 YTD | 4.5% | n/a | – |
| 2025 | 6.3% | n/a | – |
| 2024 | 7.7% | n/a | – |
| 2023 | 7.2% | n/a | – |
| 2022 | 4.2% | n/a | – |
| 2021 | 3.6% | n/a | – |
| 2020 | 3.7% | n/a | – |
| 2019 | 6.0% | n/a | – |
| 2018 | 5.7% | n/a | – |
| 2017 | 5.3% | 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 | ₹1,23,771 | 5.9% |
| 3 years | ₹3,60,000 | ₹3,96,307 | 6.3% |
| 5 years | ₹6,00,000 | ₹7,07,052 | 6.5% |
| 10 years | ₹12,00,000 | ₹16,14,391 | 5.8% |
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: HDFC Mutual Fund
Category: Arbitrage
Plan / option: Regular · Growth
AMFI scheme code: 106793
ISIN: INF179K01343
First NAV in MFIC data: 29 Oct 2007
History: 18.9 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 |
|---|---|---|---|
| UTI - Arbitrage Fund | Arbitrage | 0.99 | 6.8% |
| BANDHAN Arbitrage Fund | Arbitrage | 0.99 | 6.5% |
| Kotak Arbitrage Fund | Arbitrage | 0.99 | 6.8% |
| ADITYA BIRLA SUN LIFE ARBITRAGE FUND | Arbitrage | 0.99 | 6.7% |
| Tata Arbitrage Fund | Arbitrage | 0.98 | 6.6% |
| Edelweiss Arbitrage Fund | Arbitrage | 0.98 | 6.7% |
Questions about HDFC Arbitrage Fund
- What is the latest NAV of HDFC Arbitrage Fund?
- The NAV of the Regular plan (growth option) was ₹32.9230 on 1 Oct 2026, as published by AMFI.
- Which category is HDFC 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 41 Arbitrage schemes (Regular plans).
- What returns has HDFC Arbitrage Fund delivered?
- Over one year the NAV changed by 6.1%. The 3-year CAGR is 6.7% (category median 6.6%) and the 5-year CAGR is 6.1% (category median 6.0%). 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 6.6%, the lowest was 3.6%, and 100% of 3-year periods ended with a gain.
- What was the largest fall in HDFC Arbitrage Fund's NAV?
- The largest peak-to-trough fall in its available history was 0.8%; within the last five years it was 0.8% (category median 0.5%).
- How volatile is HDFC Arbitrage Fund?
- Its annualised standard deviation of monthly returns over the last 36 months is 0.6%, which is below the Arbitrage category median of 0.6%.
- What would a monthly SIP in HDFC 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 ₹7,07,052 on 1 Oct 2026, an annualised return (XIRR) of 6.5%. This uses the Regular 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 HDFC Arbitrage Fund?
- The total expense ratio of the Regular plan is 2.04% a year, as disclosed to AMFI (median of Arbitrage Regular plans: 2.07%). It is already deducted from the NAV, so every return shown is after expenses.
- How large is HDFC Arbitrage Fund?
- Assets under management of the whole scheme were ₹25,407 crore on 30 Sep 2026, as published by AMFI.
- What is the riskometer level of HDFC 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 HDFC Arbitrage Fund and how has it compared?
- Its official benchmark is the Nifty 50 Arbitrage TRI. Over 3 years AMFI reports a return of 6.7% for this plan against 7.4% for the benchmark total return index; over 5 years 6.1% against 6.7%. Past performance does not indicate future results.
- How often has HDFC Arbitrage Fund beaten its category?
- At 33% of the 120 month-ends compared over the last 10 years, its 3-year return was above the median of Arbitrage schemes (Regular plans); it was in the top quarter at 11% of them. A typical scheme would show about 50%.
- Who manages HDFC Arbitrage Fund?
- According to its Scheme Summary Document, HDFC Arbitrage Fund is managed by Nandita Menezes (since 29 Mar 2025), Arun Agarwal (since 24 Aug 2020), Anil Bamboli (since 1 Feb 2022), Gopal Agrawal (since 4 Sep 2001).
- What is the exit load of HDFC Arbitrage Fund?
- As stated in its scheme documents: • In respect of each purchase / switch-in of Units, an Exit load of 0.25% is payable if Units are redeemed / switched-out within 15 days from the date of allotment of units. • No Exit Load is payable if Units are redeemed/switched-out after 15 days from the date of allotment. Check the latest Scheme Information Document before investing, as loads can change.
- What is the minimum investment in HDFC Arbitrage Fund?
- The minimum application amount is Rs.100. SIP details: For SIP DSIP, WSIP, MSIP - Rs. 100; QSIP - Rs. 1500; HSIP - Rs. 2500; YSIP - Rs. 5000. For SWAP Fixed SWAP - Rs. 100; Variable SWAP - Rs. 300. For STP Fixed STP (FSTP) Daily FSTP - Rs. 500; Weekly FSTP - Rs. 500; Monthly FSTP - Rs. 1000; Quarterly FSTP -Rs. 3000. Capital Appreciation STP (CASTP) Monthly CASTP - Rs. 300; Quarterly CASTP - Rs 1000..
- 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 6.1%. The Regular plan includes the services of a distributor.
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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 Regular 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.