Aditya Birla Sun Life Arbitrage Fund vs Bank of India Arbitrage Fund
Direct Plan, Growth option · Data as on 30-10-2026
Aditya Birla Sun Life Arbitrage Fund and Bank of India Arbitrage Fund are both Arbitrage funds. In the 3 years to 30-10-2026, Aditya Birla Sun Life Arbitrage Fund (Direct) returned 7.4% a year and Bank of India Arbitrage Fund (Direct) returned 6.8% a year. Aditya Birla Sun Life Arbitrage Fund charges 1.23% a year and Bank of India Arbitrage Fund 2.13% (Direct plans). Their portfolios overlap 22.6%: they hold 27 of the same securities.
Aditya Birla Sun Life Arbitrage Fund
Arbitrage
- 3 year return
- 7.4%
- Expense ratio
- 1.23%
- NAV
- ₹31.18
Bank of India Arbitrage Fund
Arbitrage
- 3 year return
- 6.8%
- Expense ratio
- 2.13%
- NAV
- ₹15.60
Which is better, Aditya Birla Sun Life Arbitrage or Bank of India Arbitrage? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Aditya Birla Sun Life Arbitrage returned more over 5 years: 6.8% a year against 6.0%.
- Aditya Birla Sun Life Arbitrage returned more over 3 years: 7.4% a year against 6.8%.
- Aditya Birla Sun Life Arbitrage costs less: 1.23% a year against 2.13% (Direct plans).
- Aditya Birla Sun Life Arbitrage swung less over 3 years: a standard deviation of 1.1% a year against 1.2%.
- Aditya Birla Sun Life Arbitrage fell less in its worst fall since 20-06-2018: −0.5% against −0.6%.
- Aditya Birla Sun Life Arbitrage is the larger fund: ₹26,933 Cr against ₹111 Cr.
- Their portfolios overlap 22.6%: 27 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 | Aditya Birla Sun Life Arbitrage Fund | Bank of India Arbitrage Fund |
|---|---|---|
| Fund house | Aditya Birla Sun Life Mutual Fund | Bank of India Mutual Fund |
| Category | Arbitrage | Arbitrage |
| AUM | ₹26,933 Cr (30-09-2026) | ₹111 Cr (30-09-2026) |
| NAV | ₹31.18 (Direct) | ₹15.60 (Direct) |
| Expense ratio (Direct) | 1.23% | 2.13% |
| Expense ratio (Regular) | 1.94% | 2.82% |
| Riskometer | Low | Low |
| Benchmark | Nifty 50 Arbitrage TRI | Nifty 50 Arbitrage Index |
| Launch date | 24-07-2009 | 18-06-2018 |
| Minimum investment | ₹1,000 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Lovelish Solanki, Mohit Sharma, Krina Mehta | Firdaus Ragina |
| Exit load | Nil | • Any Redemption/Switch out - would be subject to an exit load of 0.50%, if the units are redeemed/switched out within 15 days from the date of allotment of units. • If the units are redeemed/switched out after 15 days from the date of allotment of units - "NIL" |
Aditya Birla Sun Life Arbitrage vs Bank of India 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 |
|---|---|---|---|---|---|---|---|
| Aditya Birla Sun Life Arbitrage Fund (Direct) | +0.50% | +1.55% | +3.30% | +6.75% | +7.40% | +6.85% | +6.38% |
| Bank of India Arbitrage Fund (Direct) | +0.73% | +1.71% | +3.16% | +6.46% | +6.84% | +6.02% | -- |
| Arbitrage average | +0.56% | +1.52% | +3.20% | +6.62% | +7.18% | +6.68% | -- |
Category average: the average of the 39 Arbitrage funds, same plan type.
Aditya Birla Sun Life Arbitrage vs Bank of India Arbitrage: Year-wise Returns
| Year | Aditya Birla Sun LifeAditya Birla Sun Life Arbitrage | Bank of IndiaBank of India Arbitrage |
|---|---|---|
| 2026to date | +5.49% | +5.29% |
| 2025 | +7.20% | +6.45% |
| 2024 | +8.30% | +7.71% |
| 2023 | +7.86% | +6.85% |
| 2022 | +4.80% | +3.43% |
| 2021 | +4.52% | +2.79% |
Aditya Birla Sun Life Arbitrage vs Bank of India Arbitrage: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 1,322 of them, one for each trading day from 21-06-2021 to 30-10-2026: the yearly return (CAGR) of each, plotted on the day it ended. One lucky or unlucky start day cannot flatter or hide a fund.
Aditya Birla Sun Life Arbitrage Fund (Direct)
Bank of India Arbitrage Fund (Direct)
to
Nov 2021Oct 2019
to
Oct 2022Sept 2020
to
Sept 2023Aug 2021
to
Aug 2024Jul 2022
to
Jul 2025May 2023
to
May 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Aditya Birla Sun Life Arbitrage | 0.0 | 21.0 | 79.0 | 0.0 | 0.0 | 0.0 | 0.0 | 6.2% | 6.0% | 4.5% | 7.9% |
| Bank of India Arbitrage | 0.0 | 54.7 | 45.3 | 0.0 | 0.0 | 0.0 | 0.0 | 5.1% | 4.8% | 3.2% | 7.1% |
The table shows the % of periods in each return band; a darker cell holds more of them. Lumpsum: the yearly rate (CAGR) from a period's first NAV to its last. SIP: the XIRR of the monthly instalments. Every fund is measured over the days all of them have, from 20-06-2018. Past returns do not promise future returns.
Aditya Birla Sun Life Arbitrage vs Bank of India Arbitrage: SIP and Lumpsum Returns
What the same monthly or one-time investment would be worth in each fund today, from their own NAV history
Growth of an investment
₹10,000 on the first trading day of every month, from 01-06-2018 to 30-10-2026: 101 instalments, ₹10,10,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Aditya Birla Sun Life ArbitrageAditya Birla Sun Life Arbitrage Fund (Direct) | ₹10,10,000 | ₹13,42,997 | ₹3,32,997 | 6.6% |
| Bank of India ArbitrageBank of India Arbitrage Fund (Direct) | ₹10,10,000 | ₹12,95,469 | ₹2,85,469 | 5.8% |
Aditya Birla Sun Life ArbitrageAditya Birla Sun Life Arbitrage Fund (Direct)
Bank of India ArbitrageBank of India Arbitrage Fund (Direct)
Amount invested
From each plan's published NAV (Growth option), over the same days. Return a year: XIRR for a SIP, CAGR for a lumpsum, shown for a year or more. It does not include exit load, stamp duty or tax. Past returns do not promise future returns.
Aditya Birla Sun Life Arbitrage vs Bank of India Arbitrage: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Aditya Birla Sun Life Arbitrage Fund (Direct) | Bank of India Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.75% | +6.46% |
| Standard deviation | 1.34% | 1.57% |
| Sharpe ratio | 1.13 | 0.77 |
| Sortino ratio | 1.77 | 1.19 |
| Maximum drawdown | −0.5% (06-08-2026) | −0.4% (04-09-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 30-10-2025 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.
| Measure | Aditya Birla Sun Life Arbitrage Fund (Direct) | Bank of India Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.40% | +6.84% |
| Standard deviation | 1.07% | 1.19% |
| Sharpe ratio | 1.29 | 0.68 |
| Sortino ratio | 2.00 | 1.03 |
| Maximum drawdown | −0.5% (06-08-2026) | −0.4% (04-09-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 30-10-2023 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.
| Measure | Aditya Birla Sun Life Arbitrage Fund (Direct) | Bank of India Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.85% | +6.02% |
| Standard deviation | 0.99% | 1.09% |
| Sharpe ratio | 1.07 | 0.20 |
| Sortino ratio | 1.64 | 0.29 |
| Maximum drawdown | −0.5% (06-08-2026) | −0.4% (04-09-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 29-10-2021 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.
| Measure | Aditya Birla Sun Life Arbitrage Fund (Direct) | Bank of India Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.97% | +5.45% |
| Standard deviation | 1.10% | 1.07% |
| Sharpe ratio | 0.84 | 0.16 |
| Sortino ratio | 1.31 | 0.22 |
| Maximum drawdown | −0.5% (25-03-2020) | −0.6% (25-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 02-01-2013 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.
Aditya Birla Sun Life Arbitrage Fund (Direct)
Bank of India Arbitrage Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Aditya Birla Sun Life Arbitrage Fund (Direct) | −0.5% | 16-03-2020 | 25-03-2020 | 31-03-2020 | 6 days | 0.0% |
| Bank of India Arbitrage Fund (Direct) | −0.6% | 16-03-2020 | 25-03-2020 | 20-04-2020 | 26 days | 0.0% |
From daily values since 20-06-2018, the first day every fund has.
Rolling standard deviation
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 1-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Aditya Birla Sun Life Arbitrage Fund (Direct)
Bank of India Arbitrage Fund (Direct)
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 3-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Aditya Birla Sun Life Arbitrage Fund (Direct)
Bank of India Arbitrage Fund (Direct)
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 5-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Aditya Birla Sun Life Arbitrage Fund (Direct)
Bank of India Arbitrage Fund (Direct)
Aditya Birla Sun Life Arbitrage vs Bank of India Arbitrage: Portfolio Overlap
From each fund's latest monthly portfolio: Aditya Birla Sun Life Arbitrage Fund, September 2026; Bank of India Arbitrage Fund, September 2026
Holdings in common
- Overlap
- 22.6%
- Held by both
- 27
- Only in Aditya Birla Sun Life Arbitrage
- 173
- Only in Bank of India Arbitrage
- 7
| Security | % of Aditya Birla Sun Life Arbitrage | % of Bank of India Arbitrage |
|---|---|---|
| HDFC Bank Ltd. | 3.52% | 4.87% |
| Reliance Industries Ltd. | 2.87% | 3.27% |
| Vodafone Idea Ltd. | 2.35% | 4.09% |
| Axis Bank Ltd. | 2.20% | 2.08% |
| State Bank of India | 1.60% | 2.14% |
| Kotak Mahindra Bank Ltd. | 1.29% | 3.69% |
| Steel Authority of India Ltd. | 1.15% | 4.08% |
| Vedanta Ltd. | 1.08% | 4.62% |
| JSW Steel Ltd. | 1.01% | 2.90% |
| Tata Steel Ltd. | 0.83% | 5.86% |
| Aurobindo Pharma Ltd. | 0.65% | 1.74% |
| Bajaj Finance Ltd. | 0.59% | 2.73% |
| Apollo Hospitals Enterprise Ltd. | 0.56% | 1.75% |
| Canara Bank | 0.38% | 5.82% |
| Biocon Ltd. | 0.30% | 1.09% |
| Ambuja Cements Ltd. | 0.30% | 1.26% |
| Bank of Baroda | 0.29% | 4.02% |
| Power Finance Corporation Ltd. | 0.27% | 2.83% |
| Godrej Properties Ltd. | 0.26% | 0.38% |
| Container Corporation of India Ltd. | 0.22% | 1.01% |
| Divi's Laboratories Ltd. | 0.21% | 1.68% |
| UPL Ltd. | 0.21% | 1.12% |
| Samvardhana Motherson International Ltd. | 0.18% | 2.99% |
| Hindustan Unilever Ltd. | 0.14% | 1.68% |
| Computer Age Management Services Ltd. | 0.11% | 0.90% |
| Ultratech Cement Ltd. | 0.52% | 0.10% |
| Bharat Forge Ltd. | 0.10% | 2.43% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 22.6% means 22.6% 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 Aditya Birla Sun Life Arbitrage Fund
| Security | % of fund |
|---|---|
| Aditya Birla Sun Life Money Market Fund - Growth - Direct Plan | 10.18% |
| Aditya Birla Sun Life Floating Interest Rate Fund-Direct Plan-Growth | 3.56% |
| ICICI Bank Ltd. | 3.37% |
| Aditya Birla Sun Life Liquid Fund - Growth - Direct Plan | 2.55% |
| Bharti Airtel Ltd. | 2.38% |
Largest holdings only in Bank of India Arbitrage Fund
| Security | % of fund |
|---|---|
| Bank of India Liquid Fund Direct Plan - Growth | 12.10% |
| 91 Days Tbill (MD 01/10/2026) | 1.35% |
| 364 Days Tbill (MD 08/10/2026) | 0.90% |
| 364 Days Tbill (MD 04/03/2027) | 0.79% |
| 182 Days Tbill (MD 19/11/2026) | 0.45% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Aditya Birla Sun Life Arbitrage | Bank of India Arbitrage |
|---|---|---|
| Equity | 69.3% | 71.1% |
| Debt | 10.5% | 4.0% |
| Cash and others | 20.1% | 24.9% |
Market cap of stocks
| Market cap | Aditya Birla Sun Life Arbitrage | Bank of India Arbitrage |
|---|---|---|
| Large Cap | 50.4% | 58.4% |
| Mid Cap | 15.6% | 11.8% |
| Small Cap | 3.4% | 0.9% |
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 | Aditya Birla Sun Life Arbitrage | Bank of India Arbitrage |
|---|---|---|
| Banks | 16.4% | 22.6% |
| Ferrous Metals | 3.2% | 12.8% |
| Telecom - Services | 5.8% | 4.1% |
| Finance | 4.5% | 5.6% |
| Auto Components | 0.5% | 5.4% |
| Diversified Metals | 1.1% | 4.6% |
| Pharmaceuticals & Biotechnology | 3.3% | 4.5% |
| Petroleum Products | 3.9% | 3.3% |
The six largest sectors of each fund's stocks, % of the fund.
Aditya Birla Sun Life Arbitrage vs Bank of India Arbitrage: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Aditya Birla Sun Life Arbitrage Fund | Bank of India Arbitrage Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.23% | 2.13% |
| Base expense ratio (Direct) | 0.27% | 0.29% |
| Total expense ratio (Regular) | 1.94% | 2.82% |
| Base expense ratio (Regular) | 0.88% | 0.88% |
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
Compare Aditya Birla Sun Life Arbitrage with
Aditya Birla Sun Life Arbitrage Fund vs Bank of India Arbitrage Fund: Frequently Asked Questions
What is the difference between Aditya Birla Sun Life Arbitrage Fund and Bank of India Arbitrage Fund?
Both are Arbitrage funds, run by Aditya Birla Sun Life Mutual Fund and Bank of India Mutual Fund. Their portfolios overlap 22.6%. Aditya Birla Sun Life Arbitrage Fund charges 1.23% a year and Bank of India Arbitrage Fund 2.13%.
Which has given higher returns, Aditya Birla Sun Life Arbitrage Fund or Bank of India Arbitrage Fund?
Over 1 year: Aditya Birla Sun Life Arbitrage Fund +6.75%, Bank of India Arbitrage Fund +6.46%. Over 3 years: Aditya Birla Sun Life Arbitrage Fund +7.40% a year, Bank of India Arbitrage Fund +6.84% a year. Over 5 years: Aditya Birla Sun Life Arbitrage Fund +6.85% a year, Bank of India Arbitrage Fund +6.02% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Aditya Birla Sun Life Arbitrage Fund or Bank of India Arbitrage Fund?
Aditya Birla Sun Life Arbitrage Fund charges less: 1.23% a year against 2.13%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Aditya Birla Sun Life Arbitrage Fund and Bank of India Arbitrage Fund overlap?
22.6%. They hold 27 of the same securities, the largest shared ones being HDFCBANK, RELIANCE, IDEA. From each fund's latest monthly portfolio.
Which is riskier, Aditya Birla Sun Life Arbitrage Fund or Bank of India Arbitrage Fund?
On SEBI's riskometer, Aditya Birla Sun Life Arbitrage Fund is rated Low and Bank of India Arbitrage Fund Low. Over 3 years, the standard deviation of daily returns was 1.07% and 1.19% a year.
Which is better for SIP, Aditya Birla Sun Life Arbitrage Fund or Bank of India Arbitrage Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,33,369 in Aditya Birla Sun Life Arbitrage Fund (XIRR 7.2% a year) and ₹7,21,740 in Bank of India Arbitrage Fund (XIRR 6.6% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Aditya Birla Sun Life Arbitrage Fund and Bank of India Arbitrage Fund?
Yes. 22.6% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Aditya Birla Sun Life Arbitrage Fund and Bank of India Arbitrage Fund?
Aditya Birla Sun Life Arbitrage Fund: Lovelish Solanki, Mohit Sharma, Krina Mehta. Bank of India Arbitrage Fund: Firdaus Ragina.
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.