GMP IPO Watch
Hybrid Scheme - Arbitrage Fund
HDFC Arbitrage Fund
Direct Plan · Monthly IDCW · HDFC Mutual Fund
Risk: Low Risk
52W Low ₹11.21 20 Nov 2025
52W High ₹11.39 21 Oct 2026
₹11.3550
NAV as of 4 Nov 2026
-0.10% day change
Other Plans of This Fund
ISININF179KA1KS8
Scheme Code129054
StructureOpen Ended Schemes
Fund HouseHDFC Asset Management Company Limited
AUM (avg. July - September 2026)₹18.77 Cr
Expense Ratio (as of 21 Oct 2026)1.48%
Min. InvestmentWs Gr/Div Rs 1Cr, Ret-Gr/QtrDiv Rs 5k/-, MnDiv 25k
Inception Date28 Sept 2007
BenchmarkNIFTY 50 Arbitrage Index (Total Returns Index)
Portfolio Turnover217.23%
NFO PeriodSeptember 28, 2007 – October 15, 2007
Returns
1Y
+1.11%
3Y
+1.64%
5Y
+1.47%
7Y
+1.12%
10Y
+0.79%
Since Inception
+1.01%
Annualised (CAGR) returns for periods over a year.
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Rank in Category
| Period | This Fund | Category Avg. | Rank |
|---|---|---|---|
| 1W | +0.19% | +0.16% | 21 of 40 |
| 1M | +0.19% | +0.54% | 21 of 40 |
| 3M | -0.03% | +1.04% | 17 of 39 |
| 6M | +0.62% | +2.61% | 15 of 39 |
| YTD | +0.97% | +4.25% | 15 of 40 |
| 1Y | +1.11% | +5.24% | 12 of 34 |
| 2Y | +1.27% | +5.33% | 10 of 28 |
| 3Y | +1.64% | +5.69% | 8 of 27 |
| 5Y | +1.47% | +5.09% | 6 of 21 |
| 7Y | +1.12% | +4.44% | 9 of 19 |
| 10Y | +0.79% | +4.26% | 8 of 13 |
| INCEPTION | +1.01% | — | — |
Ranked among: Hybrid Scheme - Arbitrage Fund.
Rolling Returns
| Period | Average | Best | Worst | Positive Periods | Consistency |
|---|---|---|---|---|---|
| 3M | +0.25% | +2.29% | -3.58% | 68% | 27% |
| 6M | +0.47% | +4.14% | -4.08% | 67% | 27% |
| 1Y | +0.81% | +7.70% | -3.77% | 71% | 29% |
| 2Y | +0.79% | +2.99% | -1.32% | 79% | 32% |
| 3Y | +0.74% | +2.42% | -0.83% | 81% | 33% |
| 5Y | +0.59% | +1.51% | -0.59% | 89% | 36% |
| 7Y | +0.59% | +1.18% | -0.35% | 95% | 38% |
| 10Y | +0.76% | +0.95% | +0.37% | 100% | 40% |
Rolling returns show the average, best and worst outcome an investor would have seen entering at any point in the window.
NAV History
AUM Trend (₹ Cr, quarterly average)
Expense Ratio Trend
Portfolio · Sep 2026
Asset Allocation
- Equity67.53%
- Debt9.04%
- Cash5.05%
- Other18.38%
Market Cap Split
- Large Cap55.58%
- Mid Cap10.25%
- Small Cap1.70%
- Others32.47%
Fundamentals
| Fund | Category | |
|---|---|---|
| P/E | 15.90 | 15.66 |
| P/B | 2.21 | 2.19 |
| Price / Sales | 2.16 | 2.37 |
| Price / Cash Flow | 11.47 | 11.81 |
| Dividend Yield (%) | 1.65 | 1.60 |
Holdings175
Top 5 Stocks19.65%
Top 10 Stocks29.14%
Top 3 Sectors31.87%
Holdings · Sep 2026
| Holding | Sector | Weight | Change (1M) |
|---|---|---|---|
| HDFC Money Market Fund - Direct Plan - Growth Option | Money Market | 9.14% | +0.87% |
| TREPS - Tri-party Repo | Reverse Repo / TREPS | 6.54% | — |
| HDFC Bank | Banks | 5.04% | -0.01% |
| ICICI Bank | Banks | 5.04% | +0.18% |
| Union Bank of India | Money Market | 3.84% | — |
| HDFC Liquid Fund - Direct Plan - Growth Option | Others | 3.75% | +0.03% |
| Reliance Industries | Petroleum Products | 3.39% | -0.12% |
| Bharti Airtel | Telecom - Services | 3.31% | +0.03% |
| Axis Bank | Banks | 2.87% | -0.09% |
| HDFC Ultra Short Term Fund - Direct Plan - Growth Option | Others | 2.85% | +0.22% |
| HDFC Ultra Short to Short Term Fund - Direct Plan - Growth Option | Others | 2.64% | +0.22% |
| JSW Steel | Ferrous Metals | 2.32% | -0.05% |
| State Bank of India | Banks | 2.30% | -0.06% |
| Bajaj Finance | Finance | 1.80% | +0.22% |
| Tata Steel | Ferrous Metals | 1.55% | +0.08% |
View all 181 holdings
| Canara Bank | Banks | 1.52% | -0.20% |
| Kotak Bank | Banks | 1.44% | +0.01% |
| Hindustan Unilever | Diversified FMCG | 1.43% | +0.11% |
| Punjab National Bank | Banks | 1.27% | -0.01% |
| Divis Laboratories | Pharmaceuticals & Biotechnology | 1.26% | +0.56% |
| Indian Overseas Bank^ | Money Market | 1.15% | +0.01% |
| TVS Motors | Automobiles | 1.10% | -0.26% |
| Vodafone Idea | Telecom - Services | 1.03% | +0.21% |
| IDFC First Bank | Banks | 0.95% | +0.10% |
| Coal India | Consumable Fuels | 0.87% | +0.28% |
| Small Industries Development Bank^ | Money Market | 0.87% | -0.08% |
| Indus Towers | Telecom - Services | 0.81% | -0.08% |
| Union Bank of India^ | Money Market | 0.77% | -0.18% |
| Bank of Baroda | Banks | 0.74% | +0.14% |
| NTPC | Power | 0.74% | -0.73% |
| Hindalco Industries | Non - Ferrous Metals | 0.73% | -0.24% |
| NMDC | Minerals & Mining | 0.67% | +0.03% |
| Punjab National Bank^ | Money Market | 0.67% | -0.09% |
| Cholamandalam Investment | Finance | 0.62% | -0.09% |
| Interglobe Aviation | Transport Services | 0.62% | -0.01% |
| Steel Authority of India | Ferrous Metals | 0.60% | -0.04% |
| Apollo Hospitals | Equity | 0.59% | -0.10% |
| ITC | Diversified FMCG | 0.59% | +0.00% |
| Eicher Motors | Automobiles | 0.58% | +0.02% |
| Infosys | IT - Software | 0.57% | +0.30% |
| Marico | Agricultural Food & Other Products | 0.57% | +0.06% |
| Varun Beverages | Beverages | 0.56% | +0.13% |
| Larsen & Toubro | Construction | 0.54% | +0.04% |
| Adani Enterprises | Metals & Minerals Trading | 0.49% | -0.16% |
| Tata Consumer Products | Agricultural Food & Other Products | 0.49% | -0.05% |
| Indian Oil Corporation | Petroleum Products | 0.48% | -0.09% |
| LIC Housing Finance | Finance | 0.48% | +0.05% |
| Bharat Electronics | Aerospace & Defense | 0.46% | -1.04% |
| Bharat Heavy Electricals | Electrical Equipment | 0.46% | -0.12% |
| Glenmark Pharmaceuticals | Pharmaceuticals & Biotechnology | 0.46% | -0.04% |
| Ambuja Cements | Cement & Cement Products | 0.44% | -0.05% |
| MCX | Capital Markets | 0.44% | +0.26% |
| Mahindra & Mahindra | Automobiles | 0.43% | +0.24% |
| Maruti Suzuki | Automobiles | 0.42% | +0.01% |
| Power Finance Corporation | Finance | 0.41% | +0.22% |
| LIC of India | Insurance | 0.40% | +0.07% |
| Kalyan Jewellers | Consumer Durables | 0.39% | +0.02% |
| HDFC Life Insurance | Insurance | 0.38% | -0.13% |
| Indian Overseas Bank^ | Money Market | 0.38% | +0.00% |
| Biocon | Pharmaceuticals & Biotechnology | 0.37% | -0.03% |
| Info Edge | Retailing | 0.37% | -0.06% |
| Tata Motors Passenger Vehicles | Automobiles | 0.36% | +0.01% |
| Bharat Forge | Auto Components | 0.35% | +0.07% |
| Aditya Birla Capital | Finance | 0.33% | +0.09% |
| Hindustan Petroleum | Petroleum Products | 0.32% | -0.01% |
| Jio Financial Services | Finance | 0.31% | -0.03% |
| Tata Power | Power | 0.30% | -0.05% |
| Ashok Leyland | Agricultural, Commercial & Construction Vehicles | 0.29% | -0.05% |
| Cummins | Industrial Products | 0.29% | -0.26% |
| Hindustan Aeronautics | Aerospace & Defense | 0.29% | +0.06% |
| Yes Bank | Banks | 0.29% | -0.09% |
| ICICI Bank Ltd.^ | Money Market | 0.29% | -0.09% |
| Kotak Mahindra Bank Limited^ | Money Market | 0.29% | -0.09% |
| Punjab National Bank | Money Market | 0.29% | -0.09% |
| Asian Paints | Consumer Durables | 0.28% | -0.14% |
| GE Vernova T&D | Electrical Equipment | 0.27% | -0.10% |
| Indian Hotels Company | Leisure Services | 0.27% | -0.27% |
| Bank of India | Banks | 0.26% | -0.02% |
| Godrej Properties | Realty | 0.26% | -0.08% |
| Indian Energy Exchange | Capital Markets | 0.26% | -0.10% |
| Titan | Consumer Durables | 0.24% | -0.07% |
| Adani Power | Power | 0.23% | +0.03% |
| APL Apollo Tubes | Industrial Products | 0.23% | +0.06% |
| Bharat Petroleum | Petroleum Products | 0.23% | -0.01% |
| Coforge | IT - Software | 0.23% | +0.00% |
| Pidilite Industries | Chemicals & Petrochemicals | 0.23% | -0.05% |
| UltraTech Cement | Cement & Cement Products | 0.21% | -0.10% |
| Voltas | Consumer Durables | 0.21% | -0.03% |
| Adani Energy Solutions | Power | 0.19% | +0.16% |
| CDSL | Capital Markets | 0.19% | -0.02% |
| Grasim Industries | Cement & Cement Products | 0.19% | -0.68% |
| Canara Bank | Money Market | 0.19% | +0.00% |
| Adani Green Energy | Power | 0.18% | -0.01% |
| Alkem Laboratories | Pharmaceuticals & Biotechnology | 0.18% | +0.02% |
| Bajaj Auto | Automobiles | 0.18% | +0.05% |
| Aurobindo Pharma | Pharmaceuticals & Biotechnology | 0.17% | +0.00% |
| Eternal | Retailing | 0.17% | +0.07% |
| Inox Wind | Electrical Equipment | 0.16% | -0.01% |
| Torrent Pharmaceuticals | Pharmaceuticals & Biotechnology | 0.16% | +0.10% |
| UPL | Fertilizers & Agrochemicals | 0.16% | -0.07% |
| Bajaj Finserv | Finance | 0.15% | +0.02% |
| Lupin | Pharmaceuticals & Biotechnology | 0.15% | -0.11% |
| Samvardhana Motherson International | Auto Components | 0.14% | +0.00% |
| Bandhan Bank | Banks | 0.13% | +0.03% |
| Cipla | Pharmaceuticals & Biotechnology | 0.13% | -0.15% |
| Patanjali Foods | Agricultural Food & Other Products | 0.13% | +0.05% |
| Radico Khaitan | Beverages | 0.13% | +0.06% |
| Federal Bank | Banks | 0.11% | +0.03% |
| Indusind Bank | Banks | 0.10% | +0.08% |
| One 97 Communications | Financial Technology (Fintech) | 0.10% | -0.69% |
| Canara Bank^ | Money Market | 0.10% | — |
| Export - Import Bank of India^ | Money Market | 0.10% | -0.09% |
| Union Bank of India | Money Market | 0.10% | +0.01% |
| Delhivery | Transport Services | 0.09% | -0.01% |
| Max Financial Services | Insurance | 0.08% | -0.14% |
| PG Electroplast | Consumer Durables | 0.08% | +0.01% |
| PNB Housing Finance | Finance | 0.08% | +0.01% |
| Shriram Finance | Finance | 0.08% | -0.04% |
| Tube Investment | Auto Components | 0.08% | +0.03% |
| Avenue Supermarts DMart | Retailing | 0.07% | — |
| DLF | Realty | 0.07% | -0.09% |
| Fortis Healthcare | Equity | 0.07% | -0.02% |
| GAIL | Gas | 0.07% | -0.02% |
| JSW Energy | Power | 0.07% | +0.00% |
| Oil & Natural Gas Corporation | Oil | 0.07% | +0.01% |
| Sun Pharmaceutical | Pharmaceuticals & Biotechnology | 0.07% | +0.04% |
| Supreme Industries | Industrial Products | 0.07% | -0.05% |
| Union Bank of India | Banks | 0.07% | -0.21% |
| AU Small Finance Bank | Banks | 0.06% | -0.03% |
| SBI Life Insurance | Insurance | 0.06% | -0.03% |
| Solar Industries | Chemicals & Petrochemicals | 0.06% | -0.26% |
| CG Power & Industrial Solutions | Electrical Equipment | 0.05% | -0.30% |
| CAMS | Capital Markets | 0.05% | -0.01% |
| Jindal Steel | Ferrous Metals | 0.05% | -0.05% |
| Mphasis | IT - Software | 0.05% | +0.04% |
| Muthoot Finance | Finance | 0.05% | -0.53% |
| NALCO | Non - Ferrous Metals | 0.05% | -0.07% |
| Sagility | IT - Services | 0.05% | +0.02% |
| United Spirits | Beverages | 0.05% | -0.09% |
| Amber Enterprises | Consumer Durables | 0.04% | -0.09% |
| Container Corporation of India | Transport Services | 0.04% | +0.01% |
| GMR Airports | Transport Infrastructure | 0.04% | -0.12% |
| Swiggy | Retailing | 0.04% | — |
| Tata Consultancy Services | IT - Software | 0.04% | -0.03% |
| Trent | Retailing | 0.04% | — |
| BSE | Capital Markets | 0.03% | -0.09% |
| Britannia Industries | Food Products | 0.03% | -0.01% |
| Dabur India | Personal Products | 0.03% | -0.17% |
| HCL Technologies | IT - Software | 0.03% | +0.00% |
| NBCC | Construction | 0.03% | +0.01% |
| Nestle | Food Products | 0.03% | +0.00% |
| SRF | Chemicals & Petrochemicals | 0.03% | -0.14% |
| Crompton Greaves | Consumer Durables | 0.02% | — |
| Hindustan Zinc | Non - Ferrous Metals | 0.02% | -0.22% |
| Manappuram Finance | Finance | 0.02% | -0.26% |
| Oil India | Oil | 0.02% | — |
| Page Industries | Textiles & Apparels | 0.02% | — |
| PB FinTech | Financial Technology (Fintech) | 0.02% | -0.09% |
| Suzlon Energy | Electrical Equipment | 0.02% | — |
| Adani Ports & SEZ | Transport Infrastructure | 0.01% | -0.16% |
| Angel One | Capital Markets | 0.01% | +0.00% |
| Astral | Industrial Products | 0.01% | — |
| Colgate Palmolive | Personal Products | 0.01% | -0.08% |
| Hitachi Energy | Electrical Equipment | 0.01% | -0.59% |
| Laurus Labs | Pharmaceuticals & Biotechnology | 0.01% | — |
| Motilal Oswal Financial Services | Capital Markets | 0.01% | -0.02% |
| Polycab | Industrial Products | 0.01% | -0.11% |
| Power Grid Corporation of India | Power | 0.01% | -0.06% |
| RBL Bank | Banks | 0.01% | -0.14% |
| Zydus Life Science | Pharmaceuticals & Biotechnology | 0.01% | -0.04% |
| ABB | Electrical Equipment | 0.00% | — |
| Bajaj Holdings & Investments | Finance | 0.00% | — |
| Bank of Maharashtra | Banks | 0.00% | — |
| Bosch | Auto Components | 0.00% | -0.16% |
| Cochin Shipyard | Industrial Manufacturing | 0.00% | -0.01% |
| Nykaa | Retailing | 0.00% | -0.08% |
| ICICI Prudential Life Insurance | Insurance | 0.00% | -0.06% |
| Lodha Developers | Realty | 0.00% | — |
| Phoenix Mills | Realty | 0.00% | -0.03% |
| Vedanta | Diversified Metals | 0.00% | -0.05% |
| Net Current Assets | Net Current Assets | -1.49% | — |
Sector Allocation · Sep 2026
View all 43 sectors
Risk Metrics
Standard Deviation
| Period | Fund | Category | |
|---|---|---|---|
| 1Y | 2.08 | 1.71 | High Volatility |
| 3Y | 1.83 | 1.36 | High Volatility |
| 5Y | 1.70 | 1.19 | High Volatility |
What is this?
Annualized population standard deviation of daily denomination-adjusted NAV returns, multiplied by sqrt(252). Values require a full timeframe of NAV history.
Sharpe Ratio
| Period | Fund | Category | |
|---|---|---|---|
| 1Y | -6.51 | -0.31 | Below Average |
| 3Y | -7.72 | 0.29 | Below Average |
| 5Y | -7.13 | -1.02 | Below Average |
What is this?
Annualized Sharpe ratio calculated from month-end NAV returns using the latest available FBIL Overnight MIBOR rate as the risk-free rate. For schemes with less than three years of history, the 3Y value uses since-inception data. Applied risk-free rate: 5.73% (published 2026-10-28).
Sortino Ratio
| Period | Fund | Category | |
|---|---|---|---|
| 1Y | 0.69 | 6.29 | Below Average |
| 3Y | 1.12 | 9.22 | Below Average |
| 5Y | 1.08 | 9.36 | Below Average |
What is this?
Annualized from daily NAV returns using a 0.00% minimum acceptable return; downside deviation includes only returns below this target.
Compare With Peers
| Scheme | 1Y | 3Y | 5Y | Since Inception |
|---|---|---|---|---|
|
quant Arbitrage Fund
Direct Plan · Growth Option
|
+7.48% | — | — | +7.35% |
|
WhiteOak Capital Arbitrage Fund
Direct Plan · Growth Option
|
+7.12% | — | — | +7.24% |
|
Franklin India Arbitrage Fund
Direct Plan · IDCW
|
+7.08% | — | — | +7.08% |
|
Bajaj Finserv Arbitrage Fund
Direct Plan · Growth
|
+6.57% | +6.97% | — | +7.01% |
|
PGIM India Arbitrage Fund
Direct plan · Growth
|
+6.56% | +7.03% | +6.51% | +6.11% |
|
TRUSTMF ARBITRAGE FUND
Direct Plan · Growth
|
+6.50% | — | — | +6.49% |
|
BANK OF INDIA ARBITRAGE FUND
Direct Plan · Annual IDCW
|
+6.42% | +6.79% | +6.00% | +4.19% |
|
Parag Parikh Arbitrage Fund
Direct Plan · Growth
|
+6.40% | +6.92% | — | +6.92% |
|
ITI Arbitrage Fund
Direct Plan · IDCW Option
|
+6.39% | +7.26% | +6.28% | +5.53% |
|
The Wealth Company Arbitrage Fund
Direct Plan · Growth
|
+6.37% | — | — | +6.37% |
More From HDFC Asset Management Company Limited
| Scheme | 1Y | 3Y | 5Y | Since Inception |
|---|---|---|---|---|
|
HDFC Silver ETF
Growth Option
|
+25.77% | +36.06% | — | +34.08% |
|
HDFC Pharma and Healthcare Fund
Direct Plan · Growth Option
|
+25.51% | +31.04% | — | +30.18% |
|
HDFC Silver ETF Fund of Fund
Direct Plan · Growth Option
|
+25.37% | +35.62% | — | +32.02% |
|
HDFC Defence Fund
Direct Plan · Growth Option
|
+19.94% | +36.01% | — | +38.17% |
|
HDFC Developed World Overseas Equity Passive FOF
Direct plan · Growth
|
+18.91% | +25.41% | +15.25% | +16.26% |
|
HDFC Gold ETF
Growth Option
|
+16.82% | +30.99% | +23.25% | +12.15% |
|
HDFC Gold ETF Fund of Fund
Direct Plan · Growth Option
|
+16.53% | +30.86% | +23.07% | +10.47% |
|
HDFC INNOVATION FUND
Direct Plan · IDCW Option
|
+13.31% | — | — | +14.01% |
|
HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund
Direct Plan · Growth Option
|
+6.94% | — | — | +6.95% |
|
HDFC Credit Risk Fund
Direct Plan · IDCW Option
|
+6.53% | +8.11% | +7.12% | +7.95% |
About This Scheme
Investment 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, refer Scheme Information Document (SID) available on the website.
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.
Fund Managers
FM 1 -Ms. Nandita Menezes, FM 2 - Mr. Arun Agarwal FM 3 - Mr.Anil Bamboli, FM 4- Mr. Gopal Agrawal
FM 1,2,3 - Fund Managers of the Scheme, FM 4 - Fund Manager for Overseas Investments
Official Documents
Scheme Information Document (PDF)
Scheme Summary (PDF)
Scheme Summary (XLS)
HDFC Asset Management Company Limited website
Mutual fund investments are subject to market risks. Read all scheme related documents carefully. Past performance is not indicative of future returns. Data is sourced from AMFI and fund houses via FinAPI and may lag official figures.