Aditya Birla Sun Life Arbitrage Fund vs Baroda BNP Paribas Arbitrage Fund
Direct Plan, Growth option · Data as on 30-10-2026
Aditya Birla Sun Life Arbitrage Fund and Baroda BNP Paribas 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 Baroda BNP Paribas Arbitrage Fund (Direct) returned 7.2% a year. Aditya Birla Sun Life Arbitrage Fund charges 1.23% a year and Baroda BNP Paribas Arbitrage Fund 1.47% (Direct plans). Their portfolios overlap 35.7%: they hold 85 of the same securities.
Aditya Birla Sun Life Arbitrage Fund
Arbitrage
- 3 year return
- 7.4%
- Expense ratio
- 1.23%
- NAV
- ₹31.18
Baroda BNP Paribas Arbitrage Fund
Arbitrage
- 3 year return
- 7.2%
- Expense ratio
- 1.47%
- NAV
- ₹18.40
Which is better, Aditya Birla Sun Life Arbitrage or Baroda BNP Paribas 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 3 years: 7.4% a year against 7.2%.
- Aditya Birla Sun Life Arbitrage returned more over 1 year: 6.8% against 6.3%.
- Aditya Birla Sun Life Arbitrage costs less: 1.23% a year against 1.47% (Direct plans).
- Aditya Birla Sun Life Arbitrage swung less over 3 years: a standard deviation of 1.1% a year against 1.1%.
- Baroda BNP Paribas Arbitrage fell less in its worst fall since 14-03-2022: −0.3% against −0.5%.
- Aditya Birla Sun Life Arbitrage is the larger fund: ₹26,933 Cr against ₹1,015 Cr.
- Their portfolios overlap 35.7%: 85 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 | Baroda BNP Paribas Arbitrage Fund |
|---|---|---|
| Fund house | Aditya Birla Sun Life Mutual Fund | Baroda BNP Paribas Mutual Fund |
| Category | Arbitrage | Arbitrage |
| AUM | ₹26,933 Cr (30-09-2026) | ₹1,015 Cr (30-09-2026) |
| NAV | ₹31.18 (Direct) | ₹18.40 (Direct) |
| Expense ratio (Direct) | 1.23% | 1.47% |
| Expense ratio (Regular) | 1.94% | 2.24% |
| Riskometer | Low | Not available |
| Benchmark | Nifty 50 Arbitrage TRI | Not available |
| Launch date | 24-07-2009 | Not available |
| Minimum investment | ₹1,000 | Not available |
| Lock in | None | Not available |
| Fund managers | Lovelish Solanki, Mohit Sharma, Krina Mehta | Not available |
| Exit load | Nil | Not available |
Aditya Birla Sun Life Arbitrage vs Baroda BNP Paribas 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% |
| Baroda BNP Paribas Arbitrage Fund (Direct) | +0.51% | +1.41% | +3.03% | +6.29% | +7.22% | -- | -- |
| Arbitrage average | +0.56% | +1.52% | +3.20% | +6.62% | +7.18% | -- | -- |
Category average: the average of the 39 Arbitrage funds, same plan type.
Aditya Birla Sun Life Arbitrage vs Baroda BNP Paribas Arbitrage: Year-wise Returns
| Year | Aditya Birla Sun LifeAditya Birla Sun Life Arbitrage | Baroda BNP ParibasBaroda BNP Paribas Arbitrage |
|---|---|---|
| 2026to date | +5.49% | +5.07% |
| 2025 | +7.20% | +7.02% |
| 2024 | +8.30% | +8.26% |
| 2023 | +7.86% | +7.87% |
| 2022 | +4.80% | -- |
| 2021 | +4.52% | -- |
Aditya Birla Sun Life Arbitrage vs Baroda BNP Paribas Arbitrage: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 401 of them, one for each trading day from 17-03-2025 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)
Baroda BNP Paribas Arbitrage Fund (Direct)
to
May 2025Aug 2022
to
Aug 2025Nov 2022
to
Nov 2025Mar 2023
to
Mar 2026Jun 2023
to
Jun 2026Sept 2023
to
Sept 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 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7.6% | 7.6% | 7.2% | 7.9% |
| Baroda BNP Paribas Arbitrage | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7.5% | 7.5% | 7.0% | 7.8% |
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 14-03-2022. Past returns do not promise future returns.
Aditya Birla Sun Life Arbitrage vs Baroda BNP Paribas 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 02-03-2022 to 30-10-2026: 56 instalments, ₹5,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Aditya Birla Sun Life ArbitrageAditya Birla Sun Life Arbitrage Fund (Direct) | ₹5,60,000 | ₹6,63,949 | ₹1,03,949 | 7.2% |
| Baroda BNP Paribas ArbitrageBaroda BNP Paribas Arbitrage Fund (Direct) | ₹5,60,000 | ₹6,60,412 | ₹1,00,412 | 7.0% |
Aditya Birla Sun Life ArbitrageAditya Birla Sun Life Arbitrage Fund (Direct)
Baroda BNP Paribas ArbitrageBaroda BNP Paribas 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 Baroda BNP Paribas 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) | Baroda BNP Paribas Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.75% | +6.29% |
| Standard deviation | 1.34% | 1.30% |
| Sharpe ratio | 1.13 | 0.81 |
| Sortino ratio | 1.77 | 1.23 |
| Maximum drawdown | −0.5% (06-08-2026) | −0.3% (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) | Baroda BNP Paribas Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.40% | +7.22% |
| Standard deviation | 1.07% | 1.08% |
| Sharpe ratio | 1.29 | 1.11 |
| Sortino ratio | 2.00 | 1.71 |
| Maximum drawdown | −0.5% (06-08-2026) | −0.3% (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) | Baroda BNP Paribas Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.97% | +6.87% |
| Standard deviation | 1.10% | 1.01% |
| Sharpe ratio | 0.84 | 0.88 |
| Sortino ratio | 1.31 | 1.32 |
| Maximum drawdown | −0.5% (25-03-2020) | −0.3% (04-09-2026) |
| 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)
Baroda BNP Paribas 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% | 03-08-2026 | 06-08-2026 | 31-08-2026 | 25 days | 0.0% |
| Baroda BNP Paribas Arbitrage Fund (Direct) | −0.3% | 01-09-2026 | 04-09-2026 | 10-09-2026 | 6 days | −0.1% |
From daily values since 14-03-2022, 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)
Baroda BNP Paribas 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)
Baroda BNP Paribas Arbitrage Fund (Direct)
Aditya Birla Sun Life Arbitrage vs Baroda BNP Paribas Arbitrage: Portfolio Overlap
From each fund's latest monthly portfolio: Aditya Birla Sun Life Arbitrage Fund, September 2026; Baroda BNP Paribas Arbitrage Fund, September 2026
Holdings in common
- Overlap
- 35.7%
- Held by both
- 85
- Only in Aditya Birla Sun Life Arbitrage
- 115
- Only in Baroda BNP Paribas Arbitrage
- 6
| Security | % of Aditya Birla Sun Life Arbitrage | % of Baroda BNP Paribas Arbitrage |
|---|---|---|
| HDFC Bank Ltd. | 3.52% | 3.69% |
| ICICI Bank Ltd. | 3.37% | 2.92% |
| Vodafone Idea Ltd. | 2.35% | 4.55% |
| Reliance Industries Ltd. | 2.87% | 2.31% |
| Axis Bank Ltd. | 2.20% | 3.86% |
| State Bank of India | 1.60% | 1.90% |
| Steel Authority of India Ltd. | 1.15% | 1.58% |
| Kotak Mahindra Bank Ltd. | 1.29% | 1.13% |
| Indus Towers Ltd. | 1.10% | 1.46% |
| JSW Steel Ltd. | 1.01% | 1.18% |
| Hindalco Industries Ltd. | 1.18% | 0.86% |
| Tata Steel Ltd. | 0.83% | 0.94% |
| NMDC Ltd. | 0.79% | 2.82% |
| Jio Financial Services Ltd. | 0.77% | 1.09% |
| Coal India Ltd. | 0.71% | 1.34% |
| Adani Enterprises Ltd. | 0.69% | 0.60% |
| Yes Bank Ltd. | 0.54% | 0.49% |
| Glenmark Pharmaceuticals Ltd. | 0.49% | 3.21% |
| Grasim Industries Ltd. | 0.51% | 0.44% |
| Info Edge (India) Ltd. | 0.43% | 0.74% |
| Manappuram Finance Ltd. | 0.41% | 2.79% |
| Bharat Electronics Ltd. | 0.39% | 1.16% |
| PNB Housing Finance Ltd. | 0.38% | 2.50% |
| Canara Bank | 0.38% | 3.75% |
| Bharti Airtel Ltd. | 2.38% | 0.38% |
| Bajaj Finance Ltd. | 0.59% | 0.38% |
| Adani Energy Solutions Ltd. | 0.35% | 2.81% |
| Crompton Greaves Consumer Electricals Ltd. | 0.35% | 1.33% |
| Bandhan Bank Ltd. | 0.32% | 0.44% |
| Cipla Ltd. | 0.31% | 0.75% |
| Ambuja Cements Ltd. | 0.30% | 0.38% |
| Punjab National Bank | 0.26% | 0.97% |
| Godrej Properties Ltd. | 0.26% | 0.32% |
| Mahindra & Mahindra Ltd. | 0.39% | 0.23% |
| Tata Consumer Products Ltd. | 0.23% | 0.76% |
| NTPC Ltd. | 1.19% | 0.22% |
| Container Corporation of India Ltd. | 0.22% | 1.07% |
| Bharat Heavy Electricals Ltd. | 0.21% | 0.81% |
| Aditya Birla Capital Ltd. | 0.40% | 0.21% |
| Union Bank of India | 0.21% | 0.33% |
| Adani Green Energy Ltd. | 0.19% | 2.69% |
| Maruti Suzuki India Ltd. | 0.73% | 0.19% |
| Adani Power Ltd. | 0.18% | 2.69% |
| RBL Bank Ltd. | 0.28% | 0.18% |
| Tata Power Company Ltd. | 0.17% | 0.57% |
| GE Vernova T&D India Ltd. | 0.34% | 0.17% |
| Biocon Ltd. | 0.30% | 0.17% |
| PG Electroplast Ltd. | 0.20% | 0.15% |
| Life Insurance Corporation of India | 0.15% | 0.88% |
| Hindustan Unilever Ltd. | 0.14% | 0.94% |
| Indian Energy Exchange Ltd. | 0.14% | 0.40% |
| LIC Housing Finance Ltd. | 0.36% | 0.14% |
| Lupin Ltd. | 0.14% | 0.13% |
| Hindustan Aeronautics Ltd. | 0.52% | 0.12% |
| The Indian Hotels Company Ltd. | 0.11% | 0.14% |
| The Federal Bank Ltd. | 0.64% | 0.11% |
| HDFC Life Insurance Company Ltd. | 0.35% | 0.11% |
| Bajaj Finserv Ltd. | 0.34% | 0.11% |
| One 97 Communications Ltd. | 0.18% | 0.11% |
| ITC Ltd. | 0.87% | 0.10% |
| Multi Commodity Exchange of India Ltd. | 0.30% | 0.10% |
| Samvardhana Motherson International Ltd. | 0.18% | 0.10% |
| GMR Airports Ltd. | 0.10% | 0.20% |
| Inox Wind Ltd. | 0.08% | 1.14% |
| Infosys Ltd. | 0.35% | 0.08% |
| Divi's Laboratories Ltd. | 0.21% | 0.07% |
| Bank of India | 0.18% | 0.07% |
| Larsen & Toubro Ltd. | 1.61% | 0.06% |
| APL Apollo Tubes Ltd. | 0.70% | 0.05% |
| Cummins India Ltd. | 0.38% | 0.05% |
| Jindal Steel Ltd. | 0.20% | 0.05% |
| NBCC (India) Ltd. | 0.19% | 0.05% |
| Colgate Palmolive (India) Ltd. | 0.04% | 0.11% |
| JSW Energy Ltd. | 0.27% | 0.04% |
| Ultratech Cement Ltd. | 0.52% | 0.03% |
| Alkem Laboratories Ltd. | 0.26% | 0.03% |
| Patanjali Foods Ltd. | 0.17% | 0.03% |
| Kalyan Jewellers India Ltd. | 0.49% | 0.02% |
| National Aluminium Company Ltd. | 0.22% | 0.02% |
| Varun Beverages Ltd. | 0.17% | 0.02% |
| Tata Elxsi Ltd. | 0.02% | 0.07% |
| Interglobe Aviation Ltd. | 0.55% | 0.01% |
| Bank of Baroda | 0.29% | 0.01% |
| Asian Paints Ltd. | 0.27% | 0.01% |
| Titan Company Ltd. | 0.24% | 0.01% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 35.7% means 35.7% 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% |
| Aditya Birla Sun Life Liquid Fund - Growth - Direct Plan | 2.55% |
| HDFC Bank Ltd. (15/02/2027) | 1.45% |
| Small Industries Development Bank of India (28/01/2027) | 1.36% |
Largest holdings only in Baroda BNP Paribas Arbitrage Fund
| Security | % of fund |
|---|---|
| Baroda BNP Paribas Liquid Fund - Direct Growth | 8.00% |
| 364 Days Tbill (MD 11/03/2027) | 4.80% |
| 182 Days Tbill (MD 19/11/2026) | 2.45% |
| 364 Days Tbill (MD 26/11/2026) | 2.44% |
| 364 Days Tbill (MD 19/03/2027) | 2.40% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Aditya Birla Sun Life Arbitrage | Baroda BNP Paribas Arbitrage |
|---|---|---|
| Equity | 69.3% | 71.2% |
| Debt | 10.5% | 12.1% |
| Cash and others | 20.1% | 16.7% |
Market cap of stocks
| Market cap | Aditya Birla Sun Life Arbitrage | Baroda BNP Paribas Arbitrage |
|---|---|---|
| Large Cap | 50.4% | 50.1% |
| Mid Cap | 15.6% | 11.9% |
| Small Cap | 3.4% | 9.2% |
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 | Baroda BNP Paribas Arbitrage |
|---|---|---|
| Banks | 16.4% | 19.9% |
| Power | 2.5% | 9.0% |
| Finance | 4.5% | 7.2% |
| Telecom - Services | 5.8% | 6.4% |
| Pharmaceuticals & Biotechnology | 3.3% | 4.4% |
| Petroleum Products | 3.9% | 2.3% |
| Ferrous Metals | 3.2% | 3.8% |
The six largest sectors of each fund's stocks, % of the fund.
Aditya Birla Sun Life Arbitrage vs Baroda BNP Paribas Arbitrage: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Aditya Birla Sun Life Arbitrage Fund | Baroda BNP Paribas Arbitrage Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.23% | 1.47% |
| Base expense ratio (Direct) | 0.27% | 0.31% |
| Total expense ratio (Regular) | 1.94% | 2.24% |
| Base expense ratio (Regular) | 0.88% | 0.97% |
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 Baroda BNP Paribas Arbitrage Fund: Frequently Asked Questions
What is the difference between Aditya Birla Sun Life Arbitrage Fund and Baroda BNP Paribas Arbitrage Fund?
Both are Arbitrage funds, run by Aditya Birla Sun Life Mutual Fund and Baroda BNP Paribas Mutual Fund. Their portfolios overlap 35.7%. Aditya Birla Sun Life Arbitrage Fund charges 1.23% a year and Baroda BNP Paribas Arbitrage Fund 1.47%.
Which has given higher returns, Aditya Birla Sun Life Arbitrage Fund or Baroda BNP Paribas Arbitrage Fund?
Over 1 year: Aditya Birla Sun Life Arbitrage Fund +6.75%, Baroda BNP Paribas Arbitrage Fund +6.29%. Over 3 years: Aditya Birla Sun Life Arbitrage Fund +7.40% a year, Baroda BNP Paribas Arbitrage Fund +7.22% 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 Baroda BNP Paribas Arbitrage Fund?
Aditya Birla Sun Life Arbitrage Fund charges less: 1.23% a year against 1.47%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Aditya Birla Sun Life Arbitrage Fund and Baroda BNP Paribas Arbitrage Fund overlap?
35.7%. They hold 85 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, IDEA. From each fund's latest monthly portfolio.
Which is better for SIP, Aditya Birla Sun Life Arbitrage Fund or Baroda BNP Paribas Arbitrage Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹4,12,735 in Aditya Birla Sun Life Arbitrage Fund (XIRR 7.1% a year) and ₹4,10,804 in Baroda BNP Paribas Arbitrage Fund (XIRR 6.7% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both Aditya Birla Sun Life Arbitrage Fund and Baroda BNP Paribas Arbitrage Fund?
Yes. 35.7% of each fund's money sits in the same holdings, so some of the two investments would move together.
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.