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HDFC ARBITRAGE FUND -Direct 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 6.77%, with the bottom and top quartiles at 5.88% and 7.52% respectively. It has ranked in the top half of its category for 0 of the last 2 reported years. The total expense ratio is 2.31% 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 97% of its portfolio classified as of 2026-05-29.
| 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.
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 | Financial Services | 6.54% |
| RELIANCE INDUSTRIES LIMITED | Energy | 4.59% |
| ICICI BANK LIMITED | Financial Services | 3.35% |
| BHARTI AIRTEL LIMITED | Communication Services | 2.71% |
| JSW STEEL LIMITED | Basic Materials | 2.51% |
| ITC LIMITED | Consumer Defensive | 2.10% |
| GRASIM INDUSTRIES LIMITED | Basic Materials | 2.09% |
| AXIS BANK LIMITED | Financial Services | 1.79% |
| MAHINDRA AND MAHINDRA LIMITED | Consumer Cyclical | 1.79% |
| TATA STEEL LIMITED | Basic Materials | 1.69% |
| NTPC LIMITED | Utilities | 1.54% |
| TITAN COMPANY LIMITED | Consumer Cyclical | 1.47% |
| BHARAT ELECTRONICS LIMITED | Industrials | 1.45% |
| MARUTI SUZUKI INDIA LIMITED | Consumer Cyclical | 1.29% |
| BHARAT HEAVY ELECTRICALS LIMITED | Industrials | 1.18% |
| Shriram Finance Limited | Financial Services | 0.88% |
| LARSEN AND TOUBRO LIMITED | Industrials | 0.86% |
| BAJAJ FINSERV LIMITED | Financial Services | 0.68% |
| MARICO LIMITED | Consumer Defensive | 0.68% |
| SUN PHARMACEUTICAL INDUSTRIES LTD. | Healthcare | 0.62% |
| ADANI ENTERPRISES LIMITED | Energy | 0.62% |
| NMDC LIMITED | Basic Materials | 0.59% |
| PUNJAB NATIONAL BANK | Financial Services | 0.58% |
| TVS MOTOR COMPANY LIMITED | Consumer Cyclical | 0.55% |
| BANK OF BARODA | Financial Services | 0.51% |
| Sector | Holdings | Weight |
|---|---|---|
| Financial Services | 30 | 22.22% |
| Metals & Mining | — | 6.87% |
| Oil, Gas & Consumable Fuels | — | 5.78% |
| Automobile and Auto Components | — | 5.05% |
| Capital Goods | — | 4.27% |
| Fast Moving Consumer Goods | — | 3.99% |
| Telecommunication | — | 3.36% |
| Healthcare | 11 | 3.00% |
| Construction Materials | — | 2.85% |
| Power | — | 2.50% |
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.
| P75 |
|---|
| Max |
|---|
| Positive % |
|---|
| 1Y | 3.55% | 4.40% | 6.85% | 7.90% | 8.63% | 100.0% |
| 3Y | 4.69% | 5.88% | 6.77% | 7.52% | 7.76% | 100.0% |
| 5Y | 5.99% | 6.20% | 6.32% | 6.47% | 6.55% | 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.
What an investor SIPping into this fund actually got during named market shocks.
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.