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HDFC ARBITRAGE FUND - Regular Plan -Growth Option is a hybrid scheme managed by HDFC Mutual Fund. Over rolling three-year windows since inception, investors earned a median compounded return of 6.24%, with the bottom and top quartiles at 5.33% and 6.95% respectively. It has ranked in the top half of its category for 6 of the last 12 reported years. Risk-adjusted return (Sharpe ratio) is 0.00. The total expense ratio is 2.84% on assets of ₹24,439Cr. The fund is currently managed by Mr. Arun Agarwal, appointed within the last year.
Lower is better.
This scheme classifies as Large-Value on the 3x3 equity style box, with 96% of its portfolio classified as of 2026-04-30.
| Holding | Sector |
|---|
| Window | Min | P25 | Median |
|---|
Point-in-time CAGRs cherry-pick a single start date. The chart below shows the distribution of every possible rolling start over the fund's history, so you see the range of investor outcomes — not just one date's number.
Backtested SIP outcomes across both rolling-window scenarios and named historical stress events (COVID, Election uncertainty, Russia/Ukraine, etc.), plus per-manager alpha during their tenure on this scheme.
Same fund, monthly SIPs over rolling 1/3/5-year windows.
| Scheme | AMC | AUM | TER | 3Y |
|---|
Mutual fund investments are subject to market risks. Read all scheme-related documents carefully. Past performance is not indicative of future results. MintByte is an AMFI-registered Mutual Fund Distributor (ARN-314872) and APMI member (APRN-01658). MintByte does not issue buy/sell recommendations on specific securities — the site is an educational data and analytics platform. Star ratings on this page reflect a 3-year category-quartile position computed in-house and are educational only.
Mutual fund schemes are subject to market risk. Read all scheme-related documents carefully before investing. Past performance is not indicative of future results. MintByte is an AMFI-registered mutual fund distributor (ARN-314872). MintByte does not issue buy/sell recommendations on specific securities — the site is an educational data and analytics platform. Not investment advice. Methodology · How we earn.
In-house derivations using 3-year daily NAV vs benchmark. See methodology.
| Weight |
|---|
| HDFC BANK LIMITED EQ NEW FV RE. 1/- | Financial Services | 6.54% |
| RELIANCE INDUSTRIES LIMITED EQ | Energy | 4.59% |
| ICICI BANK LIMITED EQ NEW FV RS. 2/- | Financial Services | 3.35% |
| BHARTI AIRTEL LIMITED EQ NEW FV RS 5/- | Communication Services | 2.71% |
| JSW STEEL LIMITED EQ NEW FV RE. 1/- | Basic Materials | 2.51% |
| ITC LIMITED EQ NEW FV RE.1/- | Consumer Defensive | 2.10% |
| GRASIM INDUSTRIES LIMITED EQ NEW FV RS. 2/- | Basic Materials | 2.09% |
| AXIS BANK LIMITED EQ NE FV RS. 2/- | Financial Services | 1.79% |
| MAHINDRA AND MAHINDRA LIMITED EQ NEW F.V. RS.5 | Consumer Cyclical | 1.79% |
| TATA STEEL LIMITED EQ NEW FV RE.1/- | Basic Materials | 1.69% |
| NTPC LIMITED EQ | Utilities | 1.54% |
| TITAN COMPANY LIMITED EQ NEW Re.1/- | Consumer Cyclical | 1.47% |
| BHARAT ELECTRONICS LIMITED EQ NEW FV Re 1/- | Industrials | 1.45% |
| MARUTI SUZUKI INDIA LIMITED EQ | Consumer Cyclical | 1.29% |
| BHARAT HEAVY ELECTRICALS LIMITED EQ NEW FV RS. 2/- | Industrials | 1.18% |
| RELIANCE STRATEGIC INVESTMENTS LIMITED EQ | Financial Services | 1.07% |
| Shriram Finance Limited | Financial Services | 0.88% |
| Multi Commodity Exchange of India Ltd | Financial Services | 0.87% |
| LARSEN AND TOUBRO LIMITED EQ NEW FV RS.2/- | Industrials | 0.86% |
| ZOMATO LIMITED EQ | Consumer Cyclical | 0.68% |
| BAJAJ FINSERV LIMITED EQ NEW FV RE.1/- | Financial Services | 0.68% |
| MARICO LIMITED NEW EQ RE.1 | Consumer Defensive | 0.68% |
| ADANI ENTERPRISES LIMITED EQ NEW FV RE.1/- | Energy | 0.62% |
| SUN PHARMACEUTICAL INDUSTRIES LTD. EQ NEW F.V. RE.1/- | Healthcare | 0.62% |
| NMDC LIMITED EQ NEW RS.1/- | Basic Materials | 0.59% |
| Sector | Holdings | Weight |
|---|---|---|
| Banks | 10 | 13.57% |
| Petroleum Products | 4 | 5.32% |
| Finance | 14 | 4.69% |
| Ferrous Metals | 4 | 4.66% |
| Automobiles | 6 | 4.58% |
| Telecom - Services | 3 | 3.36% |
| Cement & Cement Products | 3 | 2.85% |
| Power | 8 | 2.50% |
| Pharmaceuticals & Biotechnology | 9 | 2.40% |
| Diversified FMCG | 2 | 2.18% |
| CRISIL - A1+ | 4 | 2.14% |
| Consumer Durables | 4 | 1.93% |
| Aerospace & Defense | 2 | 1.82% |
| Electrical Equipment | 6 | 1.72% |
| Retailing | 4 | 1.04% |
| Non - Ferrous Metals | 3 | 1.00% |
| ICRA - A1+ | 1 | 0.97% |
| Capital Markets | 4 | 0.96% |
| Construction | 2 | 0.92% |
| CARE - A1+ | 3 | 0.88% |
| Agricultural Food & Other Products | 3 | 0.82% |
| Realty | 5 | 0.68% |
| Transport Services | 3 | 0.64% |
| Industrial Products | 5 | 0.63% |
| Metals & Minerals Trading | 1 | 0.62% |
| Healthcare Services | 3 | 0.60% |
| Minerals & Mining | 1 | 0.59% |
| Food Products | 2 | 0.57% |
| Insurance | 4 | 0.54% |
| Transport Infrastructure | 2 | 0.53% |
| Auto Components | 6 | 0.47% |
| Oil | 2 | 0.42% |
| IND - A1+ | 1 | 0.39% |
| Beverages | 1 | 0.31% |
| Financial Technology (Fintech) | 2 | 0.28% |
| IT - Software | 2 | 0.26% |
| Fertilizers & Agrochemicals | 1 | 0.19% |
| Leisure Services | 1 | 0.15% |
| Personal Products | 2 | 0.11% |
| Chemicals & Petrochemicals | 3 | 0.10% |
| Industrial Manufacturing | 2 | 0.10% |
| CRISIL - AAA | 1 | 0.08% |
| Textiles & Apparels | 1 | 0.04% |
| Consumable Fuels | 1 | 0.02% |
| Gas | 1 | 0.02% |
Active bets vs the average Hybrid fund. Biggest deviations shown first.
Accent bar = fund's actual sector weight. Vertical black tick = category average for the same sector. Green overlay = overweight, dashed red = underweight. The biggest active bets show first.
How crowded into the same stocks is this fund vs the largest fund in its category?
Category leader = highest-AUM scheme in the same SEBI category. A high overlap-of-weight number means the fund is concentrated into the same names as the leader (crowded); a low one means it's genuinely differentiated.
| P75 |
|---|
| Max |
|---|
| Positive % |
|---|
| 1Y | 2.98% | 3.83% | 6.27% | 7.33% | 8.09% | 100.0% |
| 3Y | 4.13% | 5.33% | 6.24% | 6.95% | 7.19% | 100.0% |
| 5Y | 5.43% | 5.63% | 5.75% | 5.90% | 5.98% | 100.0% |
Each cell is one year. Q1 = top quartile within the AMFI category for that period. Cell label is the last two digits of the year.
Top-10 weight 29.2% means the portfolio is broad — even the top names don't dominate. Effective-N is the inverse Herfindahl index — a measure of "how many positions effectively drive the fund" after weighting. Category: Hybrid.
Compounding maths on a notional ₹10 lakh lumpsum at 12% gross annual return. Green bar is what you'd have without the fee; red overlay is the fee drag. Fee is constant in this scenario — actual outcomes depend on real returns and any future TER changes.
Each row is a back-tested SIP — monthly contribution over the regime's duration, no fees adjustment beyond NAV-baked TER. XIRR is the annualised IRR of those cashflows; Abs return is the absolute cash-on-cash; Max DD is the deepest drawdown experienced mid-investment. Past performance is not indicative of future results.
Alpha is the annualised excess return vs benchmark over the manager's tenure on this scheme. Beat-benchmark = total return beat the index over the same window.
Does the fund get worse as it gets bigger? Each dot is one historical manager-tenure: AUM at tenure-end vs alpha delivered during that tenure.
Correlation is too weak to confirm or rule out capacity-driven alpha decay. Re-evaluate as more manager-tenure data accumulates.
Each dot is one manager-tenure: X = AUM at tenure end, Y = alpha during that tenure. Connecting line in chronological order. Pearson r measures the linear relationship between AUM and alpha across the historical record. n = 3 data points.
| 5Y |
|---|
| Star |
|---|
| Kotak Arbitrage Fund - Regular Plan - Growth | Kotak Mahindra Mutual Fund | ₹69,951 Cr | 3.14% | +6.99% | +6.14% | 2★ |
| UTI Arbitrage Fund - Regular Plan - Growth Option | UTI Mutual Fund | ₹10,858 Cr | 2.38% | +6.93% | +5.97% | 2★ |
| Invesco India Arbitrage Fund - Regular Plan - Growth Option | Invesco Mutual Fund | ₹27,321 Cr | 3.97% | +6.90% | +6.16% | 2★ |
| SBI Arbitrage Opportunities Fund - Regular Plan - Gr | SBI Mutual Fund | ₹42,847 Cr | 2.32% | +6.89% | +6.16% | 2★ |
| Edelweiss Arbitrage Fund- Regular Plan- Growth Option | Edelweiss Mutual Fund | ₹14,717 Cr | 3.33% | +6.84% | +6.00% | 2★ |
| Aditya BIRLA SUN LIFE ARBITRAGE FUND - REGULAR PLAN - GROWTH | Aditya Birla Sun Life Mutual Fund | ₹25,679 Cr | 1.81% | +6.79% | +5.89% | 2★ |
| Tata Arbitrage Fund-Regular Plan-Growth | Tata Mutual Fund | ₹21,824 Cr | 1.43% | +6.79% | +5.86% | 2★ |
| ITI Arbitrage Fund - Regular Plan - Growth Option | ITI Mutual Fund | ₹88 Cr | 1.84% | +6.76% | +5.24% | 2★ |
| Axis Arbitrage Fund - Regular Plan - Growth | Axis Mutual Fund | ₹9,725 Cr | 2.51% | +6.75% | +5.91% | 2★ |
| HSBC Arbitrage Fund - Regular Growth | HSBC Mutual Fund | ₹2,532 Cr | 2.32% | +6.70% | — | 2★ |