GMP IPO Watch
Hybrid Scheme - Arbitrage Fund
Union Arbitrage Fund
Direct Plan · IDCW Option · Union Mutual Fund
Risk: Low Risk
52W Low ₹14.47 4 Nov 2025
52W High ₹15.44 3 Nov 2026
₹15.4322
NAV as of 4 Nov 2026
-0.06% day change
Other Plans of This Fund
ISININF582M01EU3
Scheme Code146296
StructureOpen Ended Schemes
AUM (avg. July - September 2026)₹0.1 Cr
Expense Ratio (as of 4 Nov 2026)1.66%
Min. InvestmentRs 1,000 and in multiples of Rs.1 thereafter.
Inception Date30 Jan 2019
BenchmarkNIFTY 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.
Portfolio Turnover293.44%
NFO Period30-Jan-2019 – 13-Feb-2019
Returns
1Y
+6.65%
3Y
+7.17%
5Y
+6.60%
7Y
+5.67%
Since Inception
+5.78%
Annualised (CAGR) returns for periods over a year.
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Rank in Category
| Period | This Fund | Category Avg. | Rank |
|---|---|---|---|
| 1W | +0.22% | +0.16% | 9 of 40 |
| 1M | +0.69% | +0.54% | 13 of 40 |
| 3M | +1.33% | +1.04% | 14 of 39 |
| 6M | +3.47% | +2.61% | 13 of 39 |
| YTD | +5.62% | +4.25% | 14 of 40 |
| 1Y | +6.65% | +5.24% | 13 of 34 |
| 2Y | +6.70% | +5.33% | 17 of 28 |
| 3Y | +7.17% | +5.69% | 13 of 27 |
| 5Y | +6.60% | +5.09% | 14 of 21 |
| 7Y | +5.67% | +4.44% | 10 of 19 |
| INCEPTION | +5.78% | — | — |
Ranked among: Hybrid Scheme - Arbitrage Fund.
Rolling Returns
| Period | Average | Best | Worst | Positive Periods | Consistency |
|---|---|---|---|---|---|
| 3M | +1.41% | +2.44% | -0.29% | 100% | 40% |
| 6M | +2.81% | +4.69% | +0.41% | 100% | 41% |
| 1Y | +5.68% | +8.70% | +1.97% | 100% | 42% |
| 2Y | +5.80% | +8.11% | +3.23% | 100% | 42% |
| 3Y | +5.85% | +7.60% | +3.46% | 100% | 42% |
| 5Y | +5.84% | +6.63% | +5.09% | 100% | 42% |
| 7Y | +5.66% | +5.73% | +5.57% | 100% | 42% |
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
- Equity70.55%
- Debt20.26%
- Cash9.19%
- Other0.00%
Market Cap Split
- Large Cap50.89%
- Mid Cap18.23%
- Small Cap1.43%
- Others29.45%
Fundamentals
| Fund | Category | |
|---|---|---|
| P/E | 19.07 | 15.66 |
| P/B | 2.84 | 2.19 |
| Price / Sales | 2.25 | 2.37 |
| Price / Cash Flow | 12.61 | 11.81 |
| Dividend Yield (%) | 1.30 | 1.60 |
Holdings81
Top 5 Stocks13.59%
Top 10 Stocks22.93%
Top 3 Sectors22.95%
Holdings · Sep 2026
| Holding | Sector | Weight | Change (1M) |
|---|---|---|---|
| Union Money Market Fund - Direct Plan - | Mutual Fund | 13.38% | -0.56% |
| Bank of Baroda | Money Market | 6.63% | +0.06% |
| TREPS | Reverse Repo / TREPS | 6.50% | — |
| Patanjali Foods | Agricultural Food & other Products | 3.91% | -0.60% |
| Reliance Industries | Petroleum Products | 3.03% | -0.33% |
| Net Receivable / Payable | Net Current Assets | 2.69% | — |
| Vodafone Idea | Telecom - Services | 2.36% | -0.24% |
| ICICI Bank | Banks | 2.19% | +0.76% |
| PB FinTech | Financial Technology (Fintech) | 2.10% | — |
| UPL | Fertilizers & Agrochemicals | 2.10% | +1.20% |
| Tata Steel | Ferrous Metals | 1.85% | +0.31% |
| JSW Steel | Ferrous Metals | 1.81% | -0.07% |
| HDFC Bank | Banks | 1.80% | -0.83% |
| Kotak Bank | Banks | 1.78% | -0.92% |
| State Bank of India | Banks | 1.44% | -0.18% |
View all 165 holdings
| Axis Bank | Banks | 1.36% | -0.08% |
| Eicher Motors | Automobiles | 1.33% | -0.15% |
| One 97 Communications | Financial Technology (Fintech) | 1.33% | — |
| Bajaj Finance | Finance | 1.31% | -0.13% |
| BSE | Capital Markets | 1.29% | -0.17% |
| Adani Ports & SEZ | Transport Infrastructure | 1.21% | +0.15% |
| L&T Finance | Finance | 1.11% | — |
| Sun Pharmaceutical | Pharmaceuticals & Biotechnology | 1.10% | -0.10% |
| Infosys | IT - Software | 1.09% | — |
| Hindalco Industries | Non - Ferrous Metals | 1.05% | +0.60% |
| TVS Motors | Automobiles | 1.05% | -0.05% |
| Tata Consumer Products | Agricultural Food & other Products | 1.05% | -0.19% |
| Federal Bank | Banks | 1.01% | -0.12% |
| NTPC | Power | 0.99% | -1.08% |
| Apollo Hospitals | Equity | 0.98% | -0.08% |
| Interglobe Aviation | Transport Services | 0.95% | -0.12% |
| Jio Financial Services | Finance | 0.95% | -0.10% |
| Mahindra & Mahindra | Automobiles | 0.94% | +0.32% |
| Steel Authority of India | Ferrous Metals | 0.93% | -0.07% |
| Cholamandalam Investment | Finance | 0.92% | — |
| Bharat Heavy Electricals | Electrical Equipment | 0.89% | -0.53% |
| Titan | Consumer Durables | 0.88% | — |
| Bharti Airtel | Telecom - Services | 0.87% | -1.94% |
| ITC | Diversified FMCG | 0.83% | +0.03% |
| Polycab | Industrial Products | 0.82% | -0.63% |
| Larsen & Toubro | Construction | 0.78% | +0.01% |
| Shriram Finance | Finance | 0.77% | +0.31% |
| SBI Life Insurance | Insurance | 0.75% | -0.91% |
| Hindustan Unilever | Diversified FMCG | 0.74% | -0.04% |
| Maruti Suzuki | Automobiles | 0.71% | -0.09% |
| Delhivery | Transport Services | 0.70% | -0.07% |
| Ambuja Cements | Cement & Cement Products | 0.69% | -0.05% |
| Hero Motocorp | Automobiles | 0.68% | +0.53% |
| Divis Laboratories | Pharmaceuticals & Biotechnology | 0.68% | -0.01% |
| Bharat Forge | Auto Components | 0.66% | — |
| Max Financial Services | Insurance | 0.65% | -1.35% |
| Jindal Steel | Ferrous Metals | 0.65% | +0.11% |
| LIC of India | Insurance | 0.63% | -0.06% |
| Coal India | Consumable Fuels | 0.63% | — |
| Bajaj Auto | Automobiles | 0.59% | — |
| Biocon | Pharmaceuticals & Biotechnology | 0.59% | -0.06% |
| UltraTech Cement | Cement & Cement Products | 0.57% | -0.03% |
| Bajaj Finserv | Finance | 0.57% | -0.09% |
| Yes Bank | Banks | 0.53% | -0.05% |
| HDFC Life Insurance | Insurance | 0.52% | +0.14% |
| Zydus Life Science | Pharmaceuticals & Biotechnology | 0.48% | — |
| Kalyan Jewellers | Consumer Durables | 0.48% | -0.51% |
| RBL Bank | Banks | 0.47% | — |
| MCX | Capital Markets | 0.44% | — |
| Bharat Electronics | Aerospace & Defense | 0.43% | -0.03% |
| Coforge | IT - Software | 0.42% | +0.16% |
| Muthoot Finance | Finance | 0.41% | -0.04% |
| Bank of Baroda | Banks | 0.40% | -0.01% |
| Cipla | Pharmaceuticals & Biotechnology | 0.39% | -1.05% |
| Indusind Bank | Banks | 0.37% | -0.05% |
| Adani Energy Solutions | Power | 0.36% | -0.03% |
| Power Grid Corporation of India | Power | 0.36% | -0.30% |
| Torrent Pharmaceuticals | Pharmaceuticals & Biotechnology | 0.36% | -0.01% |
| Nestle | Food Products | 0.30% | — |
| Tech Mahindra | IT - Software | 0.29% | -0.02% |
| Manappuram Finance | Finance | 0.26% | -0.85% |
| NMDC | Minerals & Mining | 0.24% | -0.03% |
| JSW Energy | Power | 0.17% | -0.01% |
| Hindustan Aeronautics | Aerospace & Defense | 0.16% | — |
| 91 Day Treasury Bills | Money Market | 0.14% | +0.00% |
| 91TB241226 | Money Market | 0.11% | — |
| Bharat Petroleum | Petroleum Products | 0.03% | — |
| Container Corporation of India | Transport Services | 0.03% | — |
| Bharat Petroleum Corporation Ltd. 27.10.2026 | Petroleum Products | -0.03% | +4.52% |
| Container Corporation of India Ltd. 27.10.2026 | Transport Services | -0.03% | +4.52% |
| Kotak Mahindra Bank Ltd. 23.11.2026 | Banks | -0.15% | +4.40% |
| Hindustan Aeronautics Ltd. 23.11.2026 | Aerospace & Defense | -0.16% | +4.39% |
| JSW Energy Ltd. 27.10.2026 | Power | -0.17% | +4.38% |
| NMDC Ltd. 27.10.2026 | Minerals & Mining | -0.23% | +4.32% |
| Manappuram Finance Ltd. 27.10.2026 | Finance | -0.26% | +4.29% |
| Tech Mahindra Ltd. 27.10.2026 | IT - Software | -0.29% | +4.26% |
| Nestle India Ltd. 27.10.2026 | Food Products | -0.30% | +4.25% |
| Power Grid Corporation of India Ltd. 27.10.2026 | Power | -0.36% | +4.19% |
| Torrent Pharmaceuticals Ltd. 27.10.2026 | Pharmaceuticals & Biotechnology | -0.36% | +4.19% |
| IndusInd Bank Ltd. 27.10.2026 | Banks | -0.37% | +4.18% |
| Shriram Finance Ltd. 27.10.2026 | Finance | -0.37% | +4.18% |
| Adani Energy Solutions Ltd. 27.10.2026 | Power | -0.37% | +4.18% |
| Cipla Ltd. 27.10.2026 | Pharmaceuticals & Biotechnology | -0.39% | +4.16% |
| Bank of Baroda 23.11.2026 | Banks | -0.40% | +4.15% |
| Muthoot Finance Ltd. 27.10.2026 | Finance | -0.41% | +4.14% |
| Shriram Finance Ltd. 23.11.2026 | Finance | -0.41% | +4.14% |
| Coforge Ltd. 27.10.2026 | IT - Software | -0.42% | +4.13% |
| Bharat Electronics Ltd. 23.11.2026 | Aerospace & Defense | -0.43% | +4.12% |
| Multi Commodity Exchange of India Ltd. 27.10.2026 | Capital Markets | -0.44% | +4.11% |
| Vodafone Idea Ltd. 27.10.2026 | Telecom - Services | -0.46% | +4.09% |
| RBL Bank Ltd. 27.10.2026 | Banks | -0.47% | +4.08% |
| Kalyan Jewellers India Ltd. 27.10.2026 | Consumer Durables | -0.48% | +4.07% |
| Zydus Lifesciences Ltd. 27.10.2026 | Pharmaceuticals & Biotechnology | -0.48% | +4.07% |
| HDFC Life Insurance Company Ltd. 27.10.2026 | Insurance | -0.52% | +4.03% |
| Yes Bank Ltd. 23.11.2026 | Banks | -0.54% | +4.01% |
| Ultratech Cement Ltd. 27.10.2026 | Cement & Cement Products | -0.57% | +3.98% |
| Bajaj Finserv Ltd. 27.10.2026 | Finance | -0.57% | +3.98% |
| Biocon Ltd. 23.11.2026 | Pharmaceuticals & Biotechnology | -0.60% | +3.95% |
| Bajaj Auto Ltd. 27.10.2026 | Automobiles | -0.60% | +3.95% |
| Coal India Ltd. 27.10.2026 | Consumable Fuels | -0.63% | +3.92% |
| Life Insurance Corporation of India 27.10.2026 | Insurance | -0.64% | +3.91% |
| Max Financial Services Ltd. 27.10.2026 | Insurance | -0.65% | +3.90% |
| Jindal Steel Ltd. 27.10.2026 | Ferrous Metals | -0.65% | +3.90% |
| Bharat Forge Ltd. 27.10.2026 | Auto Components | -0.66% | +3.89% |
| Hero MotoCorp Ltd. 27.10.2026 | Automobiles | -0.68% | +3.87% |
| Divi's Laboratories Ltd. 27.10.2026 | Pharmaceuticals & Biotechnology | -0.68% | +3.87% |
| Ambuja Cements Ltd. 27.10.2026 | Cement & Cement Products | -0.70% | +3.85% |
| Delhivery Ltd. 27.10.2026 | Transport Services | -0.70% | +3.85% |
| Maruti Suzuki India Ltd. 23.11.2026 | Automobiles | -0.71% | +3.84% |
| Hindustan Unilever Ltd. 23.11.2026 | Diversified FMCG | -0.74% | +3.81% |
| SBI Life Insurance Co. Ltd. 27.10.2026 | Insurance | -0.75% | +3.80% |
| Larsen & Toubro Ltd. 23.11.2026 | Construction | -0.78% | +3.77% |
| Polycab India Ltd. 27.10.2026 | Industrial Products | -0.83% | +3.72% |
| ITC Ltd. 27.10.2026 | Diversified FMCG | -0.83% | +3.72% |
| Titan Company Ltd. 27.10.2026 | Consumer Durables | -0.88% | +3.67% |
| Bharti Airtel Ltd. 27.10.2026 | Telecom - Services | -0.88% | +3.67% |
| ICICI Bank Ltd. 23.11.2026 | Banks | -0.89% | +3.66% |
| Bharat Heavy Electricals Ltd. 27.10.2026 | Electrical Equipment | -0.89% | +3.66% |
| HDFC Bank Ltd. 27.10.2026 | Banks | -0.89% | +3.66% |
| Steel Authority of India Ltd. 27.10.2026 | Ferrous Metals | -0.91% | +3.64% |
| Cholamandalam Investment & Finance Co. Ltd. 27.10.2026 | Finance | -0.92% | +3.63% |
| Mahindra & Mahindra Ltd. 27.10.2026 | Automobiles | -0.94% | +3.61% |
| HDFC Bank Ltd. 23.11.2026 | Banks | -0.94% | +3.61% |
| Interglobe Aviation Ltd. 27.10.2026 | Transport Services | -0.95% | +3.60% |
| Jio Financial Services Ltd. 27.10.2026 | Finance | -0.95% | +3.60% |
| Apollo Hospitals Enterprise Ltd. 27.10.2026 | Derivatives | -0.97% | +3.58% |
| NTPC Ltd. 27.10.2026 | Power | -0.99% | +3.56% |
| The Federal Bank Ltd. 23.11.2026 | Banks | -1.03% | +3.52% |
| Tata Consumer Products Ltd. 27.10.2026 | Agricultural Food & other Products | -1.05% | +3.50% |
| Hindalco Industries Ltd. 27.10.2026 | Non - Ferrous Metals | -1.06% | +3.49% |
| TVS Motor Company Ltd. 27.10.2026 | Automobiles | -1.06% | +3.49% |
| Infosys Ltd. 27.10.2026 | IT - Software | -1.10% | +3.45% |
| Sun Pharmaceutical Industries Ltd. 27.10.2026 | Pharmaceuticals & Biotechnology | -1.11% | +3.44% |
| L&T Finance Ltd. 27.10.2026 | Finance | -1.12% | +3.43% |
| Adani Ports and Special Economic Zone Ltd. 27.10.2026 | Transport Infrastructure | -1.20% | +3.35% |
| BSE Ltd. 27.10.2026 | Capital Markets | -1.30% | +3.25% |
| ICICI Bank Ltd. 27.10.2026 | Banks | -1.31% | +3.24% |
| Bajaj Finance Ltd. 27.10.2026 | Finance | -1.32% | +3.23% |
| One 97 Communications Ltd. 27.10.2026 | Financial Technology (Fintech) | -1.33% | +3.22% |
| Eicher Motors Ltd. 27.10.2026 | Automobiles | -1.34% | +3.21% |
| Axis Bank Ltd. 27.10.2026 | Banks | -1.36% | +3.19% |
| State Bank of India 27.10.2026 | Banks | -1.45% | +3.10% |
| Kotak Mahindra Bank Ltd. 27.10.2026 | Banks | -1.63% | +2.92% |
| JSW Steel Ltd. 27.10.2026 | Ferrous Metals | -1.83% | +2.72% |
| Tata Steel Ltd. 27.10.2026 | Ferrous Metals | -1.86% | +2.69% |
| Vodafone Idea Ltd. 23.11.2026 | Telecom - Services | -1.91% | +2.64% |
| UPL Ltd. 27.10.2026 | Fertilizers & Agrochemicals | -2.10% | +2.45% |
| PB Fintech Ltd. 27.10.2026 | Financial Technology (Fintech) | -2.11% | +2.44% |
| Reliance Industries Ltd. 27.10.2026 | Petroleum Products | -3.04% | +1.51% |
| Patanjali Foods Ltd. 27.10.2026 | Agricultural Food & other Products | -3.93% | +0.62% |
Sector Allocation · Sep 2026
View all 29 sectors
Risk Metrics
Standard Deviation
| Period | Fund | Category | |
|---|---|---|---|
| 1Y | 1.46 | 1.71 | Low Volatility |
| 3Y | 1.16 | 1.36 | Low Volatility |
| 5Y | 1.05 | 1.19 | Low 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 | 1.28 | -0.31 | Above Average |
| 3Y | 2.50 | 0.29 | Above Average |
| 5Y | 1.25 | -1.02 | Above 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 | 8.61 | 6.29 | Above Average |
| 3Y | 12.37 | 9.22 | Above Average |
| 5Y | 12.64 | 9.36 | Above 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 Union Asset Management Company Private Limited
| Scheme | 1Y | 3Y | 5Y | Since Inception |
|---|---|---|---|---|
|
Union Gold ETF Fund of Fund
Direct Plan · Growth Option
|
+17.00% | — | — | +31.55% |
|
Union Gold ETF
Direct Plan · Growth Option
|
+16.73% | — | — | +31.97% |
|
Union Active Momentum Fund
Direct Plan · IDCW Option
|
+15.74% | — | — | +0.32% |
|
Union Small Cap Fund
Direct Plan · Growth Option
|
+14.82% | +15.43% | +16.22% | +16.18% |
|
Union Innovation & Opportunities Fund
Direct Plan · Growth Option
|
+8.71% | +19.25% | — | +17.75% |
|
Union Money Market Fund
Direct Plan · Growth Option
|
+6.62% | +7.14% | +6.53% | +6.40% |
|
Union Liquid Fund
Direct Plan · Growth Option
|
+6.49% | +6.92% | +6.45% | +6.53% |
|
Union Diversified Equity All Cap Active FOF
Direct Plan · IDCW Option
|
+5.99% | — | — | +7.33% |
|
Union Multicap Fund
Direct Plan · Growth Option
|
+5.87% | +15.07% | — | +17.37% |
|
Union Multi Asset Allocation Fund
Direct Plan · Growth Option
|
+5.71% | — | — | +9.50% |
About This Scheme
Investment 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 instruments in CDs, government securities with maturities up to 1-year, overnight Debt securities, mutual fund units of liquid, money market or schemes having Macaulay duration less than 1 year for meeting liquidity and margin requirements. Please refer the Scheme Information Document for complete details.
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
Fund Managers
FM 1 Mr. Vishal Thakker,FM 2 Mr. Devesh Thacker
FM 1 - comanage, FM 2 - comanage
Official Documents
Scheme Information Document (PDF)
Scheme Summary (PDF)
Scheme Summary (XLS)
Union Asset Management Company Private 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.