360 ONE MSCI India ETF vs SBI Arbitrage Fund
Direct Plan, Growth option · Data as on 30-10-2026
360 ONE MSCI India ETF is an ETF fund and SBI Arbitrage Fund is an Arbitrage fund. Their portfolios overlap 54.0%: they hold 142 of the same securities.
Which is better, 360 ONE MSCI India ETF or SBI Arbitrage? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- SBI Arbitrage fell less in its worst fall since 29-05-2026: −0.5% against −9.9%.
- 360 ONE MSCI India ETF holds more in large companies: 78.3% of the fund in large caps against 61.8%.
- SBI Arbitrage is the larger fund: ₹46,309 Cr against ₹6 Cr.
- Their portfolios overlap 54.0%: 142 of the same holdings.
Past returns do not promise future returns. This page is information, not investment advice.
Key facts
From each fund's scheme summary document and AMFI
| Fact | 360 ONE MSCI India ETF | SBI Arbitrage Fund |
|---|---|---|
| Fund house | 360 ONE Mutual Fund | SBI Mutual Fund |
| Category | ETF | Arbitrage |
| AUM | ₹6 Cr (30-09-2026) | ₹46,309 Cr (30-09-2026) |
| NAV | ₹9.56 (Direct) | ₹39.08 (Direct) |
| Expense ratio (Direct) | 0.00% | 1.47% |
| Expense ratio (Regular) | Not available | 1.99% |
| Riskometer | Very High | Low |
| Benchmark | MSCI India TRI | Nifty 50 Arbitrage Index |
| Launch date | 22-05-2026 | 03-11-2006 |
| Minimum investment | On Continuous basis: Directly with Fund- a) Market Makers: Market Makers can directly purchase/redeem in blocks from the fund in “Creation unit size” on any business day. b) Large Investors: Large Investors can directly purchase/redeem in blocks from the | ₹5,000 |
| Lock in | None | None |
| Fund managers | Viral Mehta, Pranav Mise | Neeraj Kumar - Equity, Ardhendu Bhattacharya |
| Exit load | Nil | Exit load of 0.25%, if redeemed within 15 Days. |
360 ONE MSCI India ETF vs SBI Arbitrage: Returns Comparison
Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.
| Fund | 1M | 3M | 6M | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|---|---|---|
| 360 ONE MSCI India ETF (Direct) | +0.25% | −5.95% | -- | -- | -- | -- | -- |
| SBI Arbitrage Fund (Direct) | +0.56% | +1.53% | +3.22% | +6.59% | +7.24% | +6.83% | +6.24% |
| Arbitrage average | +0.56% | +1.52% | +3.20% | +6.62% | +7.18% | +6.68% | +6.31% |
Category average: the average of the 39 Arbitrage funds, same plan type.
360 ONE MSCI India ETF vs SBI Arbitrage: Year-wise Returns
| Year | 360 ONE MSCI India ETF360 ONE MSCI India ETF | SBI ArbitrageSBI Arbitrage |
|---|---|---|
| 2026to date | -- | +5.39% |
| 2025 | -- | +7.05% |
| 2024 | -- | +8.11% |
| 2023 | -- | +7.98% |
| 2022 | -- | +5.09% |
| 2021 | -- | +4.43% |
360 ONE MSCI India ETF vs SBI Arbitrage: Rolling Returns
Every holding period of both funds
360 ONE MSCI India ETF vs SBI Arbitrage: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | 360 ONE MSCI India ETF (Direct) | SBI Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | −7.33% | +6.84% |
| Standard deviation | 11.22% | 1.07% |
| Sharpe ratio | -1.12 | 0.74 |
| Sortino ratio | -1.49 | 1.11 |
| Maximum drawdown | −9.9% (08-10-2026) | −0.7% (25-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 29-05-2026 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
Drawdowns
How far below its previous high each one was on every day: the falls an investor had to sit through. 0% means it was at a new high.
360 ONE MSCI India ETF (Direct)
SBI Arbitrage Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| 360 ONE MSCI India ETF (Direct) | −9.9% | 03-08-2026 | 08-10-2026 | Not yet | -- | −7.8% |
| SBI Arbitrage Fund (Direct) | −0.5% | 03-08-2026 | 06-08-2026 | 01-09-2026 | 26 days | −0.1% |
From daily values since 29-05-2026, the first day every fund has.
360 ONE MSCI India ETF vs SBI Arbitrage: Portfolio Overlap
From each fund's latest monthly portfolio: 360 ONE MSCI India ETF, September 2026; SBI Arbitrage Fund, September 2026
Holdings in common
- Overlap
- 54.0%
- Held by both
- 142
- Only in 360 ONE MSCI India ETF
- 23
- Only in SBI Arbitrage
- 54
| Security | % of 360 ONE MSCI India ETF | % of SBI Arbitrage |
|---|---|---|
| Reliance Industries Limited | 5.44% | 5.58% |
| HDFC Bank Limited | 6.35% | 4.92% |
| ICICI Bank Limited | 5.51% | 2.75% |
| Bharti Airtel Limited | 3.71% | 2.39% |
| Axis Bank Limited | 2.21% | 2.31% |
| Bajaj Finance Limited | 1.90% | 1.57% |
| State Bank of India | 1.39% | 3.68% |
| Tata Steel Limited | 1.09% | 1.59% |
| Bharat Electronics Limited | 1.07% | 1.36% |
| Larsen & Toubro Limited | 1.99% | 0.87% |
| Divi's Laboratories Limited | 0.86% | 1.09% |
| Kotak Mahindra Bank Limited | 1.79% | 0.85% |
| Tech Mahindra Limited | 0.64% | 0.64% |
| ITC Limited | 0.62% | 0.93% |
| Hindustan Aeronautics Limited | 0.62% | 1.16% |
| JSW Steel Limited | 0.60% | 1.58% |
| Maruti Suzuki India Limited | 1.11% | 0.60% |
| Infosys Limited | 2.41% | 0.59% |
| Hindustan Unilever Limited | 1.06% | 0.56% |
| NTPC Limited | 1.11% | 0.55% |
| Samvardhana Motherson International Limited | 0.54% | 0.71% |
| Hindalco Industries Limited | 0.97% | 0.54% |
| Coal India Limited | 0.52% | 0.90% |
| Cholamandalam Investment and Finance Company Ltd | 0.54% | 0.49% |
| Adani Power Limited | 0.48% | 1.03% |
| The Indian Hotels Company Limited | 0.47% | 0.70% |
| Adani Ports and Special Economic Zone Limited | 0.74% | 0.46% |
| Jio Financial Services Limited | 0.46% | 0.77% |
| Shriram Finance Limited | 1.09% | 0.45% |
| The Federal Bank Limited | 0.45% | 0.74% |
| Mahindra & Mahindra Limited | 2.04% | 0.44% |
| Varun Beverages Limited | 0.44% | 0.76% |
| Tata Power Company Limited | 0.43% | 0.64% |
| UltraTech Cement Limited | 0.90% | 0.42% |
| Tata Motors Passenger Vehicles Limited | 0.42% | 0.52% |
| Tata Consumer Products Limited | 0.41% | 0.62% |
| Cummins India Limited | 0.50% | 0.41% |
| IndusInd Bank Limited | 0.41% | 0.43% |
| Adani Enterprises Limited | 0.40% | 1.41% |
| Bharat Heavy Electricals Limited | 0.40% | 0.72% |
| Indus Towers Limited | 0.37% | 0.61% |
| Eicher Motors Limited | 0.76% | 0.35% |
| Power Finance Corporation Limited | 0.34% | 0.88% |
| HDFC Asset Management Company Limited | 0.34% | 0.36% |
| Aurobindo Pharma Limited | 0.34% | 0.34% |
| Solar Industries India Limited | 0.33% | 0.38% |
| Info Edge (India) Limited | 0.33% | 0.39% |
| Titan Company Limited | 1.27% | 0.32% |
| Torrent Pharmaceuticals Limited | 0.39% | 0.32% |
| Multi Commodity Exchange of India Limited | 0.32% | 0.41% |
| APL Apollo Tubes Limited | 0.31% | 0.38% |
| Avenue Supermarts Limited | 0.44% | 0.30% |
| Indian Oil Corporation Limited | 0.30% | 0.56% |
| HCL Technologies Limited | 0.86% | 0.27% |
| Apollo Hospitals Enterprise Limited | 0.63% | 0.27% |
| Bajaj Auto Limited | 0.55% | 0.27% |
| Vodafone Idea Limited | 0.27% | 1.10% |
| IDFC First Bank Limited | 0.26% | 0.73% |
| Hitachi Energy India Limited | 0.24% | 0.27% |
| Aditya Birla Capital Limited | 0.22% | 0.31% |
| Sun Pharmaceutical Industries Limited | 1.30% | 0.22% |
| One 97 Communications Limited | 0.51% | 0.21% |
| AU Small Finance Bank Limited | 0.44% | 0.21% |
| Union Bank of India | 0.21% | 0.37% |
| Punjab National Bank | 0.20% | 0.78% |
| Tata Consultancy Services Limited | 1.33% | 0.20% |
| Adani Energy Solutions Limited | 0.20% | 0.81% |
| GMR Airports Limited | 0.20% | 0.40% |
| HDFC Life Insurance Company Limited | 0.40% | 0.19% |
| SRF Limited | 0.26% | 0.19% |
| Bank of Baroda | 0.19% | 0.78% |
| NMDC Limited | 0.19% | 0.42% |
| Laurus Labs Limited | 0.50% | 0.18% |
| Ambuja Cements Limited | 0.18% | 0.59% |
| Godrej Properties Limited | 0.17% | 0.24% |
| Canara Bank | 0.17% | 0.89% |
| TVS Motor Company Limited | 0.77% | 0.17% |
| GE Vernova T&D India Limited | 0.41% | 0.17% |
| Lodha Developers Limited | 0.25% | 0.17% |
| Eternal Limited | 0.61% | 0.16% |
| Jindal Steel Limited | 0.32% | 0.16% |
| Fortis Healthcare Limited | 0.29% | 0.16% |
| Muthoot Finance Limited | 0.24% | 0.16% |
| Suzlon Energy Limited | 0.32% | 0.15% |
| Mphasis Limited | 0.20% | 0.15% |
| Oil & Natural Gas Corporation Limited | 0.46% | 0.14% |
| Ashok Leyland Limited | 0.34% | 0.14% |
| Godrej Consumer Products Limited | 0.26% | 0.14% |
| L&T Finance Limited | 0.17% | 0.14% |
| JSW Energy Limited | 0.15% | 0.14% |
| Dabur India Limited | 0.13% | 0.18% |
| Power Grid Corporation of India Limited | 0.87% | 0.13% |
| Cipla Limited | 0.54% | 0.13% |
| Hindustan Petroleum Corporation Limited | 0.26% | 0.12% |
| Bharat Forge Limited | 0.36% | 0.11% |
| ICICI Lombard General Insurance Company Limited | 0.30% | 0.11% |
| Vedanta Limited | 0.28% | 0.11% |
| InterGlobe Aviation Limited | 0.74% | 0.10% |
| Lupin Limited | 0.37% | 0.10% |
| Asian Paints Limited | 0.73% | 0.09% |
| Bharat Petroleum Corporation Limited | 0.38% | 0.09% |
| Polycab India Limited | 0.32% | 0.09% |
| Marico Limited | 0.32% | 0.09% |
| The Phoenix Mills Limited | 0.29% | 0.09% |
| National Aluminium Company Limited | 0.22% | 0.09% |
| UPL Limited | 0.21% | 0.09% |
| Voltas Limited | 0.17% | 0.09% |
| Alkem Laboratories Limited | 0.17% | 0.09% |
| Bajaj Finserv Limited | 0.52% | 0.08% |
| Persistent Systems Limited | 0.42% | 0.08% |
| Supreme Industries Limited | 0.17% | 0.08% |
| SBI Life Insurance Company Limited | 0.60% | 0.07% |
| BSE Limited | 0.48% | 0.07% |
| PB Fintech Limited | 0.29% | 0.07% |
| Oberoi Realty Limited | 0.17% | 0.07% |
| Oil India Limited | 0.14% | 0.07% |
| Hero MotoCorp Limited | 0.49% | 0.06% |
| GAIL (India) Limited | 0.31% | 0.06% |
| United Spirits Limited | 0.31% | 0.06% |
| Bosch Limited | 0.22% | 0.06% |
| Bajaj Holdings & Investment Limited | 0.20% | 0.06% |
| Tube Investments of India Limited | 0.18% | 0.06% |
| Trent Limited | 0.55% | 0.05% |
| DLF Limited | 0.33% | 0.05% |
| REC Limited | 0.28% | 0.05% |
| Indian Bank | 0.17% | 0.05% |
| NHPC Limited | 0.15% | 0.05% |
| FSN E-Commerce Ventures Limited | 0.30% | 0.04% |
| ABB India Limited | 0.24% | 0.04% |
| Colgate Palmolive (India) Limited | 0.16% | 0.04% |
| ICICI Prudential Life Insurance Company Limited | 0.13% | 0.04% |
| Shree Cement Limited | 0.10% | 0.04% |
| Grasim Industries Limited | 0.65% | 0.03% |
| Nestle India Limited | 0.60% | 0.03% |
| CG Power and Industrial Solutions Limited | 0.43% | 0.03% |
| Mankind Pharma Limited | 0.20% | 0.03% |
| Pidilite Industries Limited | 0.33% | 0.02% |
| Prestige Estates Projects Limited | 0.20% | 0.02% |
| Vishal Mega Mart Limited | 0.19% | 0.02% |
| Zydus Lifesciences Limited | 0.17% | 0.02% |
| Max Healthcare Institute Limited | 0.52% | 0.01% |
| Petronet LNG Limited | 0.17% | 0.01% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 54.0% means 54.0% of each fund's money sits in positions the other also holds. Matched by ISIN. Cash and hedged positions are left out.
Largest holdings only in 360 ONE MSCI India ETF
| Security | % of fund |
|---|---|
| Tata Motors Ltd | 0.62% |
| Dr. Reddy's Laboratories Limited | 0.49% |
| Britannia Industries Limited | 0.41% |
| Vedanta Aluminium Metal Limited | 0.41% |
| Dixon Technologies (India) Limited | 0.32% |
Largest holdings only in SBI Arbitrage Fund
| Security | % of fund |
|---|---|
| SBI Liquid Fund - DIRECT PLAN -Growth Option | 7.25% |
| SBI Money Market Fund - Direct Plan - Growth Option | 7.06% |
| HDFC Bank Ltd. | 2.54% |
| Bank of Baroda | 1.06% |
| Union Bank of India | 1.06% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | 360 ONE MSCI India ETF | SBI Arbitrage |
|---|---|---|
| Equity | 96.9% | 77.2% |
| Debt | 0.0% | 6.5% |
| Cash and others | 3.1% | 16.4% |
Market cap of stocks
| Market cap | 360 ONE MSCI India ETF | SBI Arbitrage |
|---|---|---|
| Large Cap | 78.3% | 61.8% |
| Mid Cap | 18.6% | 13.2% |
| Small Cap | 0.0% | 2.1% |
Share of the whole fund. Groups follow AMFI's latest list: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.
Largest sectors
| Sector | 360 ONE MSCI India ETF | SBI Arbitrage |
|---|---|---|
| Banks | 20.0% | 20.0% |
| IT - Software | 6.5% | 2.3% |
| Petroleum Products | 6.4% | 6.3% |
| Finance | 6.2% | 5.7% |
| Automobiles | 6.1% | 2.4% |
| Pharmaceuticals & Biotechnology | 5.3% | 3.4% |
| Telecom - Services | 4.5% | 4.1% |
| Power | 3.6% | 4.3% |
| Ferrous Metals | 2.2% | 3.8% |
The six largest sectors of each fund's stocks, % of the fund.
360 ONE MSCI India ETF vs SBI Arbitrage: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | 360 ONE MSCI India ETF | SBI Arbitrage Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.00% | 1.47% |
| Base expense ratio (Direct) | 0.00% | 0.34% |
| Total expense ratio (Regular) | Not available | 1.99% |
| Base expense ratio (Regular) | 0.39% | 0.78% |
The expense ratio comes out of the fund's assets every day, so every return on this page is already after it. Base expense ratio: the fund house's own fee. The total adds brokerage, transaction costs, and levies with GST.
More comparisons
Each fund against the others of its category
360 ONE MSCI India ETF vs SBI Arbitrage Fund: Frequently Asked Questions
What is the difference between 360 ONE MSCI India ETF and SBI Arbitrage Fund?
360 ONE MSCI India ETF is an ETF fund, SBI Arbitrage Fund is an Arbitrage fund, run by 360 ONE Mutual Fund and SBI Mutual Fund. Their portfolios overlap 54.0%.
How much do 360 ONE MSCI India ETF and SBI Arbitrage Fund overlap?
54.0%. They hold 142 of the same securities, the largest shared ones being RELIANCE, HDFCBANK, ICICIBANK. From each fund's latest monthly portfolio.
Which is riskier, 360 ONE MSCI India ETF or SBI Arbitrage Fund?
On SEBI's riskometer, 360 ONE MSCI India ETF is rated Very High and SBI Arbitrage Fund Low. Over their common history, the standard deviation of daily returns was 11.22% and 1.07% a year.
Can I invest in both 360 ONE MSCI India ETF and SBI Arbitrage Fund?
Yes. 54.0% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages 360 ONE MSCI India ETF and SBI Arbitrage Fund?
360 ONE MSCI India ETF: Viral Mehta, Pranav Mise. SBI Arbitrage Fund: Neeraj Kumar - Equity, Ardhendu Bhattacharya.
Sources: NAV and expense ratio from AMFI. Holdings from each fund house's monthly portfolio statement. Fund facts from each scheme summary document.
This page is information, not investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Past returns do not promise future returns. Figures come from AMFI, NSE, BSE and each fund house's own documents.