Aditya Birla Sun Life Arbitrage Fund vs Motilal Oswal Arbitrage Fund
Direct Plan, Growth option · Data as on 30-10-2026
Aditya Birla Sun Life Arbitrage Fund and Motilal Oswal Arbitrage Fund are both Arbitrage funds. In the year to 30-10-2026, Aditya Birla Sun Life Arbitrage Fund (Direct) returned 6.8% and Motilal Oswal Arbitrage Fund (Direct) returned 7.0%. Aditya Birla Sun Life Arbitrage Fund charges 1.23% a year and Motilal Oswal Arbitrage Fund 0.99% (Direct plans). Their portfolios overlap 41.3%: they hold 116 of the same securities.
Aditya Birla Sun Life Arbitrage Fund
Arbitrage
- 1 year return
- 6.8%
- Expense ratio
- 1.23%
- NAV
- ₹31.18
Motilal Oswal Arbitrage Fund
Arbitrage
- 1 year return
- 7.0%
- Expense ratio
- 0.99%
- NAV
- ₹11.37
Which is better, Aditya Birla Sun Life Arbitrage or Motilal Oswal Arbitrage? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Motilal Oswal Arbitrage returned more over 1 year: 7.0% against 6.8%.
- Motilal Oswal Arbitrage costs less: 0.99% a year against 1.23% (Direct plans).
- Motilal Oswal Arbitrage fell less in its worst fall since 27-12-2024: −0.4% against −0.5%.
- Aditya Birla Sun Life Arbitrage is the larger fund: ₹26,933 Cr against ₹3,434 Cr.
- Their portfolios overlap 41.3%: 116 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 | Motilal Oswal Arbitrage Fund |
|---|---|---|
| Fund house | Aditya Birla Sun Life Mutual Fund | Motilal Oswal Mutual Fund |
| Category | Arbitrage | Arbitrage |
| AUM | ₹26,933 Cr (30-09-2026) | ₹3,434 Cr (30-09-2026) |
| NAV | ₹31.18 (Direct) | ₹11.37 (Direct) |
| Expense ratio (Direct) | 1.23% | 0.99% |
| Expense ratio (Regular) | 1.94% | 1.98% |
| Riskometer | Low | Low |
| Benchmark | Nifty 50 Arbitrage TRI | Nifty 50 Arbitrage TRI |
| Launch date | 24-07-2009 | 23-12-2024 |
| Minimum investment | ₹1,000 | ₹500 |
| Lock in | None | None |
| Fund managers | Lovelish Solanki, Mohit Sharma, Krina Mehta | Vishal Ashar, Atul Mehra, Rakesh Shetty |
| Exit load | Nil | 0.25% - If redeemed within 30 days from the day of allotment. Nil - If redeemed after 30 days from the date of allotment. |
Aditya Birla Sun Life Arbitrage vs Motilal Oswal 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% |
| Motilal Oswal Arbitrage Fund (Direct) | +0.48% | +1.54% | +3.30% | +6.98% | -- | -- | -- |
| Arbitrage average | +0.56% | +1.52% | +3.20% | +6.62% | -- | -- | -- |
Category average: the average of the 39 Arbitrage funds, same plan type.
Aditya Birla Sun Life Arbitrage vs Motilal Oswal Arbitrage: Year-wise Returns
| Year | Aditya Birla Sun LifeAditya Birla Sun Life Arbitrage | Motilal OswalMotilal Oswal Arbitrage |
|---|---|---|
| 2026to date | +5.49% | +5.62% |
| 2025 | +7.20% | +7.46% |
| 2024 | +8.30% | -- |
| 2023 | +7.86% | -- |
| 2022 | +4.80% | -- |
| 2021 | +4.52% | -- |
Aditya Birla Sun Life Arbitrage vs Motilal Oswal Arbitrage: Rolling Returns
Every holding period of both funds
Rolling returns
Every 1-year holding period, 207 of them, one for each trading day from 29-12-2025 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)
Motilal Oswal Arbitrage Fund (Direct)
to
Jan 2026Mar 2025
to
Mar 2026May 2025
to
May 2026Jun 2025
to
Jun 2026Aug 2025
to
Aug 2026Oct 2025
to
Oct 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 | 6.8% | 6.7% | 6.2% | 7.2% |
| Motilal Oswal Arbitrage | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7.2% | 7.2% | 6.7% | 7.6% |
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 27-12-2024. Past returns do not promise future returns.
Aditya Birla Sun Life Arbitrage vs Motilal Oswal 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 02-12-2024 to 30-10-2026: 23 instalments, ₹2,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Aditya Birla Sun Life ArbitrageAditya Birla Sun Life Arbitrage Fund (Direct) | ₹2,30,000 | ₹2,45,527 | ₹15,527 | 6.7% |
| Motilal Oswal ArbitrageMotilal Oswal Arbitrage Fund (Direct) | ₹2,30,000 | ₹2,45,995 | ₹15,995 | 6.9% |
Aditya Birla Sun Life ArbitrageAditya Birla Sun Life Arbitrage Fund (Direct)
Motilal Oswal ArbitrageMotilal Oswal 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 Motilal Oswal 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) | Motilal Oswal Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.75% | +6.98% |
| Standard deviation | 1.34% | 1.39% |
| Sharpe ratio | 1.13 | 1.24 |
| Sortino ratio | 1.77 | 1.88 |
| Maximum drawdown | −0.5% (06-08-2026) | −0.4% (06-08-2026) |
| 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) | Motilal Oswal Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.97% | +7.14% |
| Standard deviation | 1.10% | 1.16% |
| Sharpe ratio | 0.84 | 1.37 |
| Sortino ratio | 1.31 | 2.08 |
| Maximum drawdown | −0.5% (25-03-2020) | −0.4% (06-08-2026) |
| 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)
Motilal Oswal 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% |
| Motilal Oswal Arbitrage Fund (Direct) | −0.4% | 03-08-2026 | 06-08-2026 | 21-08-2026 | 15 days | −0.0% |
From daily values since 27-12-2024, 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)
Motilal Oswal Arbitrage Fund (Direct)
Aditya Birla Sun Life Arbitrage vs Motilal Oswal Arbitrage: Portfolio Overlap
From each fund's latest monthly portfolio: Aditya Birla Sun Life Arbitrage Fund, September 2026; Motilal Oswal Arbitrage Fund, September 2026
Holdings in common
- Overlap
- 41.3%
- Held by both
- 116
- Only in Aditya Birla Sun Life Arbitrage
- 84
- Only in Motilal Oswal Arbitrage
- 22
| Security | % of Aditya Birla Sun Life Arbitrage | % of Motilal Oswal Arbitrage |
|---|---|---|
| HDFC Bank Ltd. | 3.52% | 5.41% |
| Reliance Industries Ltd. | 2.87% | 4.58% |
| Bharti Airtel Ltd. | 2.38% | 3.63% |
| ICICI Bank Ltd. | 3.37% | 2.28% |
| Axis Bank Ltd. | 2.20% | 2.53% |
| Vodafone Idea Ltd. | 2.35% | 1.34% |
| Kotak Mahindra Bank Ltd. | 1.29% | 2.39% |
| Larsen & Toubro Ltd. | 1.61% | 1.19% |
| Steel Authority of India Ltd. | 1.15% | 1.23% |
| State Bank of India | 1.60% | 1.11% |
| Maruti Suzuki India Ltd. | 0.73% | 1.73% |
| TVS Motor Company Ltd. | 0.71% | 3.37% |
| National Bank for Agriculture and Rural Development (22/01/2027) | 1.09% | 0.71% |
| National Bank for Agriculture and Rural Development (17/03/2027) | 0.72% | 0.71% |
| Adani Enterprises Ltd. | 0.69% | 1.11% |
| Jio Financial Services Ltd. | 0.77% | 0.68% |
| Bajaj Finance Ltd. | 0.59% | 1.72% |
| IndusInd Bank Ltd. | 0.57% | 0.75% |
| Interglobe Aviation Ltd. | 0.55% | 1.74% |
| ITC Ltd. | 0.87% | 0.50% |
| Aditya Birla Capital Ltd. | 0.40% | 2.15% |
| Ashok Leyland Ltd. | 0.39% | 0.97% |
| Kalyan Jewellers India Ltd. | 0.49% | 0.39% |
| Mahindra & Mahindra Ltd. | 0.39% | 1.53% |
| Bharat Electronics Ltd. | 0.39% | 0.53% |
| PNB Housing Finance Ltd. | 0.38% | 0.63% |
| Sun Pharmaceutical Industries Ltd. | 0.35% | 0.74% |
| Tata Steel Ltd. | 0.83% | 0.35% |
| HDFC Life Insurance Company Ltd. | 0.35% | 0.57% |
| Bajaj Finserv Ltd. | 0.34% | 0.43% |
| Indus Towers Ltd. | 1.10% | 0.34% |
| Yes Bank Ltd. | 0.54% | 0.34% |
| Cholamandalam Investment & Finance Co. Ltd. | 0.34% | 3.49% |
| JSW Steel Ltd. | 1.01% | 0.31% |
| Cipla Ltd. | 0.31% | 0.32% |
| Infosys Ltd. | 0.35% | 0.30% |
| AU Small Finance Bank Ltd. | 0.30% | 3.07% |
| Grasim Industries Ltd. | 0.51% | 0.29% |
| Shriram Finance Ltd. | 0.29% | 0.69% |
| RBL Bank Ltd. | 0.28% | 0.77% |
| Muthoot Finance Ltd. | 0.32% | 0.27% |
| Eternal Ltd. | 0.26% | 0.43% |
| NMDC Ltd. | 0.79% | 0.26% |
| Cummins India Ltd. | 0.38% | 0.26% |
| Swiggy Ltd. | 0.34% | 0.26% |
| Bank of Baroda | 0.29% | 0.25% |
| Multi Commodity Exchange of India Ltd. | 0.30% | 0.24% |
| Bharat Heavy Electricals Ltd. | 0.21% | 0.52% |
| Divi's Laboratories Ltd. | 0.21% | 0.25% |
| Eicher Motors Ltd. | 0.62% | 0.21% |
| PG Electroplast Ltd. | 0.20% | 0.54% |
| Jindal Steel Ltd. | 0.20% | 0.23% |
| Adani Green Energy Ltd. | 0.19% | 0.29% |
| Samvardhana Motherson International Ltd. | 0.18% | 0.88% |
| One 97 Communications Ltd. | 0.18% | 1.10% |
| HDFC Bank Ltd. (22/01/2027) | 0.18% | 0.71% |
| Asian Paints Ltd. | 0.27% | 0.18% |
| Patanjali Foods Ltd. | 0.17% | 0.28% |
| Godrej Properties Ltd. | 0.26% | 0.17% |
| Marico Ltd. | 0.19% | 0.17% |
| Vedanta Ltd. | 1.08% | 0.16% |
| Ultratech Cement Ltd. | 0.52% | 0.16% |
| Canara Bank | 0.38% | 0.16% |
| Apollo Hospitals Enterprise Ltd. | 0.56% | 0.15% |
| LIC Housing Finance Ltd. | 0.36% | 0.15% |
| Crompton Greaves Consumer Electricals Ltd. | 0.35% | 0.15% |
| Supreme Industries Ltd. | 0.14% | 0.33% |
| Hindustan Unilever Ltd. | 0.14% | 0.19% |
| Hindustan Aeronautics Ltd. | 0.52% | 0.14% |
| IDFC First Bank Ltd. | 0.17% | 0.14% |
| Life Insurance Corporation of India | 0.15% | 0.14% |
| Tata Consultancy Services Ltd. | 0.38% | 0.13% |
| Central Depository Services (I) Ltd. | 0.12% | 0.40% |
| Bandhan Bank Ltd. | 0.32% | 0.12% |
| Suzlon Energy Ltd. | 0.12% | 0.37% |
| The Federal Bank Ltd. | 0.64% | 0.11% |
| Bajaj Auto Ltd. | 0.10% | 0.13% |
| Aurobindo Pharma Ltd. | 0.65% | 0.10% |
| Adani Ports and Special Economic Zone Ltd. | 0.39% | 0.10% |
| Biocon Ltd. | 0.30% | 0.10% |
| Ambuja Cements Ltd. | 0.30% | 0.10% |
| HDFC Asset Management Co. Ltd. | 0.22% | 0.10% |
| NBCC (India) Ltd. | 0.19% | 0.09% |
| Pidilite Industries Ltd. | 0.11% | 0.09% |
| Inox Wind Ltd. | 0.08% | 0.87% |
| Hindalco Industries Ltd. | 1.18% | 0.08% |
| Coforge Ltd. | 0.39% | 0.08% |
| Lupin Ltd. | 0.14% | 0.08% |
| The Indian Hotels Company Ltd. | 0.11% | 0.08% |
| Info Edge (India) Ltd. | 0.43% | 0.07% |
| Varun Beverages Ltd. | 0.17% | 0.07% |
| Indian Energy Exchange Ltd. | 0.14% | 0.07% |
| Angel One Ltd. | 0.07% | 0.36% |
| APL Apollo Tubes Ltd. | 0.70% | 0.06% |
| SBI Life Insurance Co. Ltd. | 0.22% | 0.06% |
| GAIL (India) Ltd. | 0.11% | 0.05% |
| Max Financial Services Ltd. | 0.11% | 0.05% |
| Tata Motors Passenger Vehicles Ltd. | 0.07% | 0.05% |
| CG Power and Industrial Solutions Ltd. | 0.04% | 2.37% |
| Adani Energy Solutions Ltd. | 0.35% | 0.04% |
| DLF Ltd. | 0.06% | 0.04% |
| SBI Cards & Payment Services Ltd. | 0.03% | 0.27% |
| Bharat Petroleum Corporation Ltd. | 0.51% | 0.03% |
| Oil & Natural Gas Corporation Ltd. | 0.41% | 0.03% |
| Tata Consumer Products Ltd. | 0.23% | 0.03% |
| Bharat Forge Ltd. | 0.10% | 0.03% |
| Polycab India Ltd. | 0.02% | 0.04% |
| Alkem Laboratories Ltd. | 0.26% | 0.02% |
| Hindustan Petroleum Corporation Ltd. | 0.18% | 0.02% |
| Tube Investments of India Ltd. | 0.07% | 0.02% |
| NTPC Ltd. | 1.19% | 0.01% |
| Glenmark Pharmaceuticals Ltd. | 0.49% | 0.01% |
| United Spirits Ltd. | 0.44% | 0.01% |
| Titan Company Ltd. | 0.24% | 0.01% |
| Radico Khaitan Ltd. | 0.14% | 0.01% |
| Dabur India Ltd. | 0.02% | 0.01% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 41.3% means 41.3% 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 Motilal Oswal Arbitrage Fund
| Security | % of fund |
|---|---|
| Motilal Oswal Liquid Fund - Direct Growth | 7.13% |
| Motilal Oswal Ultra Short Term Fund (MOFUSTF) -Direct Plan- Growth | 2.07% |
| 5.74% Government of India 2026 | 0.73% |
| 364 Days Tbill (MD 23/10/2026) | 0.73% |
| Bank of Baroda 2026 | 0.72% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Aditya Birla Sun Life Arbitrage | Motilal Oswal Arbitrage |
|---|---|---|
| Equity | 69.3% | 71.3% |
| Debt | 10.5% | 14.3% |
| Cash and others | 20.1% | 14.4% |
Market cap of stocks
| Market cap | Aditya Birla Sun Life Arbitrage | Motilal Oswal Arbitrage |
|---|---|---|
| Large Cap | 50.4% | 53.6% |
| Mid Cap | 15.6% | 13.5% |
| Small Cap | 3.4% | 4.2% |
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 | Motilal Oswal Arbitrage |
|---|---|---|
| Banks | 16.4% | 19.4% |
| Finance | 4.5% | 10.5% |
| Automobiles | 2.6% | 7.1% |
| Telecom - Services | 5.8% | 5.3% |
| Petroleum Products | 3.9% | 4.6% |
| Electrical Equipment | 1.3% | 4.2% |
| Pharmaceuticals & Biotechnology | 3.3% | 1.7% |
| Ferrous Metals | 3.2% | 2.1% |
The six largest sectors of each fund's stocks, % of the fund.
Aditya Birla Sun Life Arbitrage vs Motilal Oswal Arbitrage: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Aditya Birla Sun Life Arbitrage Fund | Motilal Oswal Arbitrage Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.23% | 0.99% |
| Base expense ratio (Direct) | 0.27% | 0.10% |
| Total expense ratio (Regular) | 1.94% | 1.98% |
| Base expense ratio (Regular) | 0.88% | 1.00% |
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 Motilal Oswal Arbitrage Fund: Frequently Asked Questions
What is the difference between Aditya Birla Sun Life Arbitrage Fund and Motilal Oswal Arbitrage Fund?
Both are Arbitrage funds, run by Aditya Birla Sun Life Mutual Fund and Motilal Oswal Mutual Fund. Their portfolios overlap 41.3%. Aditya Birla Sun Life Arbitrage Fund charges 1.23% a year and Motilal Oswal Arbitrage Fund 0.99%.
Which has given higher returns, Aditya Birla Sun Life Arbitrage Fund or Motilal Oswal Arbitrage Fund?
Over 1 year: Aditya Birla Sun Life Arbitrage Fund +6.75%, Motilal Oswal Arbitrage Fund +6.98%. 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 Motilal Oswal Arbitrage Fund?
Motilal Oswal Arbitrage Fund charges less: 0.99% a year against 1.23%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Aditya Birla Sun Life Arbitrage Fund and Motilal Oswal Arbitrage Fund overlap?
41.3%. They hold 116 of the same securities, the largest shared ones being HDFCBANK, RELIANCE, BHARTIARTL. From each fund's latest monthly portfolio.
Which is riskier, Aditya Birla Sun Life Arbitrage Fund or Motilal Oswal Arbitrage Fund?
On SEBI's riskometer, Aditya Birla Sun Life Arbitrage Fund is rated Low and Motilal Oswal Arbitrage Fund Low. Over 1 years, the standard deviation of daily returns was 1.34% and 1.39% a year.
Can I invest in both Aditya Birla Sun Life Arbitrage Fund and Motilal Oswal Arbitrage Fund?
Yes. 41.3% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Aditya Birla Sun Life Arbitrage Fund and Motilal Oswal Arbitrage Fund?
Aditya Birla Sun Life Arbitrage Fund: Lovelish Solanki, Mohit Sharma, Krina Mehta. Motilal Oswal Arbitrage Fund: Vishal Ashar, Atul Mehra, Rakesh Shetty.
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.