Aditya Birla Sun Life Arbitrage Fund vs UTI Nifty 500 Index Fund
Direct Plan, Growth option · Data as on 30-10-2026
Aditya Birla Sun Life Arbitrage Fund is an Arbitrage fund and UTI Nifty 500 Index Fund is an Index fund. Aditya Birla Sun Life Arbitrage Fund charges 1.23% a year and UTI Nifty 500 Index Fund 1.85% (Direct plans). Their portfolios overlap 51.7%: they hold 177 of the same securities.
Aditya Birla Sun Life Arbitrage Fund
Arbitrage
- Expense ratio
- 1.23%
- NAV
- ₹31.18
Which is better, Aditya Birla Sun Life Arbitrage or UTI Nifty 500 Index? 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 costs less: 1.23% a year against 1.85% (Direct plans).
- Aditya Birla Sun Life Arbitrage fell less in its worst fall since 31-08-2026: −0.3% against −8.6%.
- UTI Nifty 500 Index holds more in large companies: 67.3% of the fund in large caps against 50.4%.
- Aditya Birla Sun Life Arbitrage is the larger fund: ₹26,933 Cr against ₹102 Cr.
- Their portfolios overlap 51.7%: 177 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 | UTI Nifty 500 Index Fund |
|---|---|---|
| Fund house | Aditya Birla Sun Life Mutual Fund | UTI Mutual Fund |
| Category | Arbitrage | Index |
| AUM | ₹26,933 Cr (30-09-2026) | ₹102 Cr (30-09-2026) |
| NAV | ₹31.18 (Direct) | ₹9.31 (Direct) |
| Expense ratio (Direct) | 1.23% | 1.85% |
| Expense ratio (Regular) | 1.94% | 2.56% |
| Riskometer | Low | Very High |
| Benchmark | Nifty 50 Arbitrage TRI | Nifty 500 TRI |
| Launch date | 24-07-2009 | 27-08-2026 |
| Minimum investment | ₹1,000 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Lovelish Solanki, Mohit Sharma, Krina Mehta | Sharwan Kumar Goyal FM 1, Ayush Jain FM 2, Lokesh Kulthia FM 3 |
| Exit load | Nil | Nil |
Aditya Birla Sun Life Arbitrage vs UTI Nifty 500 Index: 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% |
| UTI Nifty 500 Index Fund (Direct) | −0.77% | -- | -- | -- | -- | -- | -- |
| 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.
Aditya Birla Sun Life Arbitrage vs UTI Nifty 500 Index: Year-wise Returns
| Year | Aditya Birla Sun Life ArbitrageAditya Birla Sun Life Arbitrage | UTI Nifty 500 IndexUTI Nifty 500 Index |
|---|---|---|
| 2026to date | +5.49% | -- |
| 2025 | +7.20% | -- |
| 2024 | +8.30% | -- |
| 2023 | +7.86% | -- |
| 2022 | +4.80% | -- |
| 2021 | +4.52% | -- |
Aditya Birla Sun Life Arbitrage vs UTI Nifty 500 Index: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of UTI Nifty 500 Index Fund
Aditya Birla Sun Life Arbitrage vs UTI Nifty 500 Index: 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) | UTI Nifty 500 Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.97% | −33.99% |
| Standard deviation | 1.10% | 13.15% |
| Sharpe ratio | 0.84 | -2.99 |
| Sortino ratio | 1.31 | -3.45 |
| Maximum drawdown | −0.5% (25-03-2020) | −8.6% (23-10-2026) |
| Beta | -- | 1.00 |
| Alpha | -- | −0.23% |
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)
UTI Nifty 500 Index Fund (Direct)
Nifty 500 TRI
| 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) | −0.3% | 01-09-2026 | 04-09-2026 | 10-09-2026 | 6 days | 0.0% |
| UTI Nifty 500 Index Fund (Direct) | −8.6% | 31-08-2026 | 23-10-2026 | Not yet | -- | −6.6% |
| Nifty 500 TRI | −8.6% | 31-08-2026 | 23-10-2026 | Not yet | -- | −6.6% |
From daily values since 31-08-2026, the first day every fund has.
Aditya Birla Sun Life Arbitrage vs UTI Nifty 500 Index: Portfolio Overlap
From each fund's latest monthly portfolio: Aditya Birla Sun Life Arbitrage Fund, September 2026; UTI Nifty 500 Index Fund, September 2026
Holdings in common
- Overlap
- 51.7%
- Held by both
- 177
- Only in Aditya Birla Sun Life Arbitrage
- 23
- Only in UTI Nifty 500 Index
- 319
| Security | % of Aditya Birla Sun Life Arbitrage | % of UTI Nifty 500 Index |
|---|---|---|
| HDFC Bank Ltd. | 3.52% | 5.67% |
| ICICI Bank Ltd. | 3.37% | 4.94% |
| Reliance Industries Ltd. | 2.87% | 4.14% |
| Bharti Airtel Ltd. | 2.38% | 2.79% |
| Axis Bank Ltd. | 2.20% | 1.84% |
| Larsen & Toubro Ltd. | 1.61% | 2.30% |
| State Bank of India | 1.60% | 2.07% |
| Kotak Mahindra Bank Ltd. | 1.29% | 1.60% |
| ITC Ltd. | 0.87% | 1.32% |
| NTPC Ltd. | 1.19% | 0.80% |
| Tata Steel Ltd. | 0.83% | 0.80% |
| Maruti Suzuki India Ltd. | 0.73% | 0.81% |
| Hindalco Industries Ltd. | 1.18% | 0.71% |
| JSW Steel Ltd. | 1.01% | 0.63% |
| Bajaj Finance Ltd. | 0.59% | 1.37% |
| Interglobe Aviation Ltd. | 0.55% | 0.59% |
| Coal India Ltd. | 0.71% | 0.53% |
| Ultratech Cement Ltd. | 0.52% | 0.68% |
| Adani Enterprises Ltd. | 0.69% | 0.51% |
| Eicher Motors Ltd. | 0.62% | 0.51% |
| Grasim Industries Ltd. | 0.51% | 0.60% |
| TVS Motor Company Ltd. | 0.71% | 0.50% |
| Hindustan Aeronautics Ltd. | 0.52% | 0.46% |
| Apollo Hospitals Enterprise Ltd. | 0.56% | 0.44% |
| The Federal Bank Ltd. | 0.64% | 0.41% |
| Oil & Natural Gas Corporation Ltd. | 0.41% | 0.46% |
| Adani Ports and Special Economic Zone Ltd. | 0.39% | 0.74% |
| Mahindra & Mahindra Ltd. | 0.39% | 1.38% |
| Bharat Electronics Ltd. | 0.39% | 0.73% |
| Tata Consultancy Services Ltd. | 0.38% | 1.09% |
| Jio Financial Services Ltd. | 0.77% | 0.37% |
| Torrent Pharmaceuticals Ltd. | 0.39% | 0.37% |
| Sun Pharmaceutical Industries Ltd. | 0.35% | 1.00% |
| Infosys Ltd. | 0.35% | 1.83% |
| Bajaj Finserv Ltd. | 0.34% | 0.53% |
| Cummins India Ltd. | 0.38% | 0.34% |
| Cholamandalam Investment & Finance Co. Ltd. | 0.34% | 0.37% |
| Bharat Petroleum Corporation Ltd. | 0.51% | 0.32% |
| Coforge Ltd. | 0.39% | 0.32% |
| IndusInd Bank Ltd. | 0.57% | 0.31% |
| Cipla Ltd. | 0.31% | 0.40% |
| Multi Commodity Exchange of India Ltd. | 0.30% | 0.44% |
| AU Small Finance Bank Ltd. | 0.30% | 0.31% |
| HDFC Life Insurance Company Ltd. | 0.35% | 0.29% |
| Shriram Finance Ltd. | 0.29% | 0.72% |
| GE Vernova T&D India Ltd. | 0.34% | 0.27% |
| Asian Paints Ltd. | 0.27% | 0.57% |
| Eternal Ltd. | 0.26% | 1.21% |
| Indian Oil Corporation Ltd. | 0.31% | 0.26% |
| Indus Towers Ltd. | 1.10% | 0.25% |
| Info Edge (India) Ltd. | 0.43% | 0.25% |
| Solar Industries India Ltd. | 0.29% | 0.25% |
| Power Finance Corporation Ltd. | 0.27% | 0.25% |
| Titan Company Ltd. | 0.24% | 0.99% |
| Vedanta Ltd. | 1.08% | 0.24% |
| Aurobindo Pharma Ltd. | 0.65% | 0.24% |
| Ashok Leyland Ltd. | 0.39% | 0.23% |
| Tata Consumer Products Ltd. | 0.23% | 0.32% |
| SBI Life Insurance Co. Ltd. | 0.22% | 0.40% |
| Adani Energy Solutions Ltd. | 0.35% | 0.22% |
| Bank of Baroda | 0.29% | 0.22% |
| HDFC Asset Management Co. Ltd. | 0.22% | 0.24% |
| Bharat Heavy Electricals Ltd. | 0.21% | 0.32% |
| Divi's Laboratories Ltd. | 0.21% | 0.62% |
| APL Apollo Tubes Ltd. | 0.70% | 0.21% |
| United Spirits Ltd. | 0.44% | 0.21% |
| Canara Bank | 0.38% | 0.21% |
| PB Fintech Ltd. | 0.64% | 0.20% |
| Hitachi Energy India Ltd. | 0.41% | 0.20% |
| Swiggy Ltd. | 0.34% | 0.20% |
| Punjab National Bank | 0.26% | 0.20% |
| Jindal Steel Ltd. | 0.20% | 0.22% |
| Marico Ltd. | 0.19% | 0.22% |
| Adani Green Energy Ltd. | 0.19% | 0.22% |
| Vodafone Idea Ltd. | 2.35% | 0.19% |
| Yes Bank Ltd. | 0.54% | 0.19% |
| Samvardhana Motherson International Ltd. | 0.18% | 0.38% |
| One 97 Communications Ltd. | 0.18% | 0.38% |
| Adani Power Ltd. | 0.18% | 0.44% |
| Glenmark Pharmaceuticals Ltd. | 0.49% | 0.18% |
| Hindustan Petroleum Corporation Ltd. | 0.18% | 0.18% |
| Nestle India Ltd. | 0.18% | 0.49% |
| Tata Power Company Ltd. | 0.17% | 0.31% |
| Laurus Labs Ltd. | 0.17% | 0.40% |
| Fortis Healthcare Ltd. | 0.17% | 0.21% |
| IDFC First Bank Ltd. | 0.17% | 0.28% |
| Aditya Birla Capital Ltd. | 0.40% | 0.17% |
| Union Bank of India | 0.21% | 0.17% |
| Varun Beverages Ltd. | 0.17% | 0.31% |
| JSW Energy Ltd. | 0.27% | 0.16% |
| Alkem Laboratories Ltd. | 0.26% | 0.16% |
| National Aluminium Company Ltd. | 0.22% | 0.16% |
| UPL Ltd. | 0.21% | 0.16% |
| Muthoot Finance Ltd. | 0.32% | 0.15% |
| Life Insurance Corporation of India | 0.15% | 0.26% |
| BSE Ltd. | 0.15% | 0.66% |
| ICICI Lombard General Insurance Company Ltd. | 0.15% | 0.20% |
| Hindustan Unilever Ltd. | 0.14% | 0.87% |
| Radico Khaitan Ltd. | 0.14% | 0.18% |
| Lupin Ltd. | 0.14% | 0.26% |
| Steel Authority of India Ltd. | 1.15% | 0.14% |
| NMDC Ltd. | 0.79% | 0.14% |
| Hindustan Zinc Ltd. | 0.76% | 0.14% |
| Power Grid Corporation of India Ltd. | 0.13% | 0.62% |
| Biocon Ltd. | 0.30% | 0.13% |
| RBL Bank Ltd. | 0.28% | 0.13% |
| Voltas Ltd. | 0.12% | 0.13% |
| Ambuja Cements Ltd. | 0.30% | 0.12% |
| Supreme Industries Ltd. | 0.14% | 0.12% |
| Central Depository Services (I) Ltd. | 0.12% | 0.12% |
| Suzlon Energy Ltd. | 0.12% | 0.25% |
| The Indian Hotels Company Ltd. | 0.11% | 0.33% |
| GAIL (India) Ltd. | 0.11% | 0.24% |
| Kalyan Jewellers India Ltd. | 0.49% | 0.11% |
| PNB Housing Finance Ltd. | 0.38% | 0.11% |
| Godrej Properties Ltd. | 0.26% | 0.11% |
| Max Financial Services Ltd. | 0.11% | 0.19% |
| Delhivery Ltd. | 0.11% | 0.13% |
| Pidilite Industries Ltd. | 0.11% | 0.24% |
| Bajaj Auto Ltd. | 0.10% | 0.62% |
| GMR Airports Ltd. | 0.10% | 0.17% |
| KEI Industries Ltd. | 0.10% | 0.14% |
| Bosch Ltd. | 0.10% | 0.21% |
| The Phoenix Mills Ltd. | 0.10% | 0.19% |
| Bharat Forge Ltd. | 0.10% | 0.28% |
| Manappuram Finance Ltd. | 0.41% | 0.09% |
| Bandhan Bank Ltd. | 0.32% | 0.09% |
| Astral Ltd. | 0.10% | 0.09% |
| Oil India Ltd. | 0.08% | 0.13% |
| Tech Mahindra Ltd. | 0.08% | 0.51% |
| Wipro Ltd. | 0.08% | 0.22% |
| LIC Housing Finance Ltd. | 0.36% | 0.08% |
| Container Corporation of India Ltd. | 0.22% | 0.08% |
| Bank of India | 0.18% | 0.08% |
| Computer Age Management Services Ltd. | 0.11% | 0.08% |
| Bank of Maharashtra | 0.10% | 0.08% |
| Indian Bank | 0.08% | 0.15% |
| Tube Investments of India Ltd. | 0.07% | 0.13% |
| Max Healthcare Institute Ltd. | 0.07% | 0.36% |
| Tata Motors Passenger Vehicles Ltd. | 0.07% | 0.31% |
| Crompton Greaves Consumer Electricals Ltd. | 0.35% | 0.07% |
| Patanjali Foods Ltd. | 0.17% | 0.07% |
| Angel One Ltd. | 0.07% | 0.09% |
| Trent Ltd. | 0.07% | 0.46% |
| SRF Ltd. | 0.07% | 0.19% |
| ABB India Ltd. | 0.06% | 0.19% |
| Mphasis Ltd. | 0.06% | 0.15% |
| DLF Ltd. | 0.06% | 0.23% |
| Amber Enterprises India Ltd. | 0.05% | 0.08% |
| HCL Technologies Ltd. | 0.05% | 0.68% |
| Sagility Ltd. | 0.14% | 0.05% |
| Avenue Supermarts Ltd. | 0.05% | 0.32% |
| Prestige Estates Projects Ltd. | 0.04% | 0.13% |
| CG Power and Industrial Solutions Ltd. | 0.04% | 0.31% |
| Colgate Palmolive (India) Ltd. | 0.04% | 0.12% |
| PG Electroplast Ltd. | 0.20% | 0.04% |
| NBCC (India) Ltd. | 0.19% | 0.04% |
| Indian Energy Exchange Ltd. | 0.14% | 0.04% |
| Persistent Systems Ltd. | 0.04% | 0.30% |
| Godrej Consumer Products Ltd. | 0.04% | 0.18% |
| SBI Cards & Payment Services Ltd. | 0.03% | 0.09% |
| Oberoi Realty Ltd. | 0.03% | 0.11% |
| Inox Wind Ltd. | 0.08% | 0.03% |
| KPIT Technologies Ltd. | 0.03% | 0.04% |
| Lodha Developers Ltd. | 0.03% | 0.18% |
| Motilal Oswal Financial Services Ltd. | 0.02% | 0.08% |
| Page Industries Ltd. | 0.02% | 0.12% |
| Polycab India Ltd. | 0.02% | 0.22% |
| FSN E-Commerce Ventures Ltd. | 0.02% | 0.23% |
| REC Ltd. | 0.02% | 0.19% |
| L&T Finance Ltd. | 0.02% | 0.12% |
| Bharat Dynamics Ltd. | 0.02% | 0.05% |
| Dabur India Ltd. | 0.02% | 0.12% |
| Tata Elxsi Ltd. | 0.02% | 0.06% |
| UNO Minda Ltd. | 0.01% | 0.11% |
| Siemens Energy India Ltd. | 0.01% | 0.15% |
| Ather Energy Ltd. | 0.01% | 0.14% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 51.7% means 51.7% 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 UTI Nifty 500 Index Fund
| Security | % of fund |
|---|---|
| EQ - TATA MOTORS LTD | 0.46% |
| EQ - DR REDDYS LABORATORIES LTD. | 0.39% |
| EQ - VEDANTA ALUMINIUM METAL LTD. | 0.36% |
| EQ - HERO MOTOCORP LTD. | 0.35% |
| EQ - BRITANNIA INDUSTRIES LTD. | 0.30% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Aditya Birla Sun Life Arbitrage | UTI Nifty 500 Index |
|---|---|---|
| Equity | 69.3% | 99.6% |
| Debt | 10.5% | 0.0% |
| Cash and others | 20.1% | 0.4% |
Market cap of stocks
| Market cap | Aditya Birla Sun Life Arbitrage | UTI Nifty 500 Index |
|---|---|---|
| Large Cap | 50.4% | 67.3% |
| Mid Cap | 15.6% | 20.9% |
| Small Cap | 3.4% | 11.3% |
| Not on AMFI's list | 0.0% | 0.1% |
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 | Aditya Birla Sun Life Arbitrage | UTI Nifty 500 Index |
|---|---|---|
| Banks | 16.4% | 19.3% |
| Finance | 4.5% | 6.5% |
| Telecom - Services | 5.8% | 3.5% |
| Pharmaceuticals & Biotechnology | 3.3% | 5.8% |
| IT - Software | 1.5% | 5.7% |
| Petroleum Products | 3.9% | 5.0% |
| Automobiles | 2.6% | 4.9% |
| Ferrous Metals | 3.2% | 1.9% |
The six largest sectors of each fund's stocks, % of the fund.
Aditya Birla Sun Life Arbitrage vs UTI Nifty 500 Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Aditya Birla Sun Life Arbitrage Fund | UTI Nifty 500 Index Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.23% | 1.85% |
| Base expense ratio (Direct) | 0.27% | 0.13% |
| Total expense ratio (Regular) | 1.94% | 2.56% |
| Base expense ratio (Regular) | 0.88% | 0.73% |
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
Aditya Birla Sun Life Arbitrage Fund vs UTI Nifty 500 Index Fund: Frequently Asked Questions
What is the difference between Aditya Birla Sun Life Arbitrage Fund and UTI Nifty 500 Index Fund?
Aditya Birla Sun Life Arbitrage Fund is an Arbitrage fund, UTI Nifty 500 Index Fund is an Index fund, run by Aditya Birla Sun Life Mutual Fund and UTI Mutual Fund. Their portfolios overlap 51.7%. Aditya Birla Sun Life Arbitrage Fund charges 1.23% a year and UTI Nifty 500 Index Fund 1.85%.
Which has the lower expense ratio, Aditya Birla Sun Life Arbitrage Fund or UTI Nifty 500 Index Fund?
Aditya Birla Sun Life Arbitrage Fund charges less: 1.23% a year against 1.85%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Aditya Birla Sun Life Arbitrage Fund and UTI Nifty 500 Index Fund overlap?
51.7%. They hold 177 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, RELIANCE. From each fund's latest monthly portfolio.
Which is riskier, Aditya Birla Sun Life Arbitrage Fund or UTI Nifty 500 Index Fund?
On SEBI's riskometer, Aditya Birla Sun Life Arbitrage Fund is rated Low and UTI Nifty 500 Index Fund Very High. Over their common history, the standard deviation of daily returns was 1.10% and 13.15% a year.
Can I invest in both Aditya Birla Sun Life Arbitrage Fund and UTI Nifty 500 Index Fund?
Yes. 51.7% 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 UTI Nifty 500 Index Fund?
Aditya Birla Sun Life Arbitrage Fund: Lovelish Solanki, Mohit Sharma, Krina Mehta. UTI Nifty 500 Index Fund: Sharwan Kumar Goyal FM 1, Ayush Jain FM 2, Lokesh Kulthia FM 3.
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.