Aditya Birla Sun Life Arbitrage Fund vs Zerodha Arbitrage Fund
Direct Plan, Growth option · Data as on 30-10-2026
Aditya Birla Sun Life Arbitrage Fund and Zerodha Arbitrage Fund are both Arbitrage funds. Aditya Birla Sun Life Arbitrage Fund charges 1.23% a year and Zerodha Arbitrage Fund 2.31% (Direct plans). Their portfolios overlap 27.0%: they hold 48 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 Zerodha 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 costs less: 1.23% a year against 2.31% (Direct plans).
- Aditya Birla Sun Life Arbitrage fell less in its worst fall since 20-08-2026: −0.3% against −0.3%.
- Aditya Birla Sun Life Arbitrage is the larger fund: ₹26,933 Cr against ₹47 Cr.
- Their portfolios overlap 27.0%: 48 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 | Zerodha Arbitrage Fund |
|---|---|---|
| Fund house | Aditya Birla Sun Life Mutual Fund | Zerodha Mutual Fund |
| Category | Arbitrage | Arbitrage |
| AUM | ₹26,933 Cr (30-09-2026) | ₹47 Cr (30-09-2026) |
| NAV | ₹31.18 (Direct) | ₹10.12 (Direct) |
| Expense ratio (Direct) | 1.23% | 2.31% |
| Expense ratio (Regular) | 1.94% | Not available |
| Riskometer | Low | Low |
| Benchmark | Nifty 50 Arbitrage TRI | Nifty 50 Arbitrage TRI |
| Launch date | 24-07-2009 | 18-08-2026 |
| Minimum investment | ₹1,000 | Lumpsum: ?5000 and in multiples of ‘any amount’ thereafter SIP: ?1000 and in multiples of ‘any amount’ thereafter. |
| Lock in | None | None |
| Fund managers | Lovelish Solanki, Mohit Sharma, Krina Mehta | Kedarnath Mirajkar |
| Exit load | Nil | Nil |
Aditya Birla Sun Life Arbitrage vs Zerodha 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% |
| Zerodha Arbitrage Fund (Direct) | +0.62% | -- | -- | -- | -- | -- | -- |
| Arbitrage average | +0.56% | -- | -- | -- | -- | -- | -- |
Category average: the average of the 39 Arbitrage funds, same plan type.
Aditya Birla Sun Life Arbitrage vs Zerodha Arbitrage: Year-wise Returns
| Year | Aditya Birla Sun LifeAditya Birla Sun Life Arbitrage | ZerodhaZerodha Arbitrage |
|---|---|---|
| 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 Zerodha Arbitrage: Rolling Returns
Every holding period of both funds
Aditya Birla Sun Life Arbitrage vs Zerodha 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) | Zerodha Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.97% | +6.28% |
| Standard deviation | 1.10% | 1.82% |
| Sharpe ratio | 0.84 | 0.56 |
| Sortino ratio | 1.31 | 0.82 |
| 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)
Zerodha 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) | −0.3% | 01-09-2026 | 04-09-2026 | 10-09-2026 | 6 days | 0.0% |
| Zerodha Arbitrage Fund (Direct) | −0.3% | 31-08-2026 | 04-09-2026 | 18-09-2026 | 14 days | −0.0% |
From daily values since 20-08-2026, the first day every fund has.
Aditya Birla Sun Life Arbitrage vs Zerodha Arbitrage: Portfolio Overlap
From each fund's latest monthly portfolio: Aditya Birla Sun Life Arbitrage Fund, September 2026; Zerodha Arbitrage Fund, September 2026
Holdings in common
- Overlap
- 27.0%
- Held by both
- 48
- Only in Aditya Birla Sun Life Arbitrage
- 152
- Only in Zerodha Arbitrage
- 3
| Security | % of Aditya Birla Sun Life Arbitrage | % of Zerodha Arbitrage |
|---|---|---|
| HDFC Bank Ltd. | 3.52% | 8.18% |
| ICICI Bank Ltd. | 3.37% | 4.36% |
| Bharti Airtel Ltd. | 2.38% | 2.50% |
| Axis Bank Ltd. | 2.20% | 2.30% |
| Reliance Industries Ltd. | 2.87% | 2.16% |
| Indus Towers Ltd. | 1.10% | 2.31% |
| State Bank of India | 1.60% | 0.92% |
| ITC Ltd. | 0.87% | 2.04% |
| Tata Steel Ltd. | 0.83% | 2.06% |
| Coal India Ltd. | 0.71% | 2.21% |
| The Federal Bank Ltd. | 0.64% | 3.91% |
| TVS Motor Company Ltd. | 0.71% | 0.62% |
| Bajaj Finance Ltd. | 0.59% | 1.08% |
| IndusInd Bank Ltd. | 0.57% | 1.08% |
| Coforge Ltd. | 0.39% | 1.07% |
| PNB Housing Finance Ltd. | 0.38% | 2.34% |
| Tata Consultancy Services Ltd. | 0.38% | 0.79% |
| Crompton Greaves Consumer Electricals Ltd. | 0.35% | 2.78% |
| Infosys Ltd. | 0.35% | 1.96% |
| Swiggy Ltd. | 0.34% | 0.98% |
| AU Small Finance Bank Ltd. | 0.30% | 1.95% |
| Bank of Baroda | 0.29% | 2.45% |
| Godrej Properties Ltd. | 0.26% | 1.59% |
| Aditya Birla Capital Ltd. | 0.40% | 0.25% |
| HDFC Asset Management Co. Ltd. | 0.22% | 0.29% |
| Container Corporation of India Ltd. | 0.22% | 0.48% |
| Divi's Laboratories Ltd. | 0.21% | 0.40% |
| Cummins India Ltd. | 0.38% | 0.20% |
| Marico Ltd. | 0.19% | 0.20% |
| Tata Power Company Ltd. | 0.17% | 0.89% |
| IDFC First Bank Ltd. | 0.17% | 2.59% |
| Canara Bank | 0.38% | 0.17% |
| Multi Commodity Exchange of India Ltd. | 0.30% | 0.16% |
| Union Bank of India | 0.21% | 0.16% |
| Adani Power Ltd. | 0.18% | 0.16% |
| Life Insurance Corporation of India | 0.15% | 1.89% |
| Bank of India | 0.18% | 0.14% |
| Nestle India Ltd. | 0.18% | 0.14% |
| GAIL (India) Ltd. | 0.11% | 1.30% |
| Pidilite Industries Ltd. | 0.11% | 0.16% |
| Bajaj Auto Ltd. | 0.10% | 0.17% |
| Astral Ltd. | 0.10% | 1.12% |
| Power Finance Corporation Ltd. | 0.27% | 0.09% |
| Tata Motors Passenger Vehicles Ltd. | 0.07% | 1.94% |
| Trent Ltd. | 0.07% | 2.02% |
| HCL Technologies Ltd. | 0.05% | 1.05% |
| Persistent Systems Ltd. | 0.04% | 0.56% |
| Oberoi Realty Ltd. | 0.03% | 0.13% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 27.0% means 27.0% 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 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% |
| Vodafone Idea Ltd. | 2.35% |
| Larsen & Toubro Ltd. | 1.61% |
Largest holdings only in Zerodha Arbitrage Fund
| Security | % of fund |
|---|---|
| HSBC Liquid Fund - Direct Growth | 12.88% |
| 364 Days Treasury Bill 12-Aug-2027 | 10.17% |
| Hero MotoCorp Limited | 0.17% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Aditya Birla Sun Life Arbitrage | Zerodha Arbitrage |
|---|---|---|
| Equity | 69.3% | 68.5% |
| Debt | 10.5% | 10.2% |
| Cash and others | 20.1% | 21.4% |
Market cap of stocks
| Market cap | Aditya Birla Sun Life Arbitrage | Zerodha Arbitrage |
|---|---|---|
| Large Cap | 50.4% | 47.0% |
| Mid Cap | 15.6% | 16.4% |
| Small Cap | 3.4% | 5.1% |
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 | Zerodha Arbitrage |
|---|---|---|
| Banks | 16.4% | 28.2% |
| Telecom - Services | 5.8% | 4.8% |
| IT - Software | 1.5% | 5.4% |
| Finance | 4.5% | 3.8% |
| Petroleum Products | 3.9% | 2.2% |
| Pharmaceuticals & Biotechnology | 3.3% | 0.4% |
| Ferrous Metals | 3.2% | 2.1% |
| Retailing | 1.2% | 3.0% |
| Automobiles | 2.6% | 2.9% |
The six largest sectors of each fund's stocks, % of the fund.
Aditya Birla Sun Life Arbitrage vs Zerodha Arbitrage: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Aditya Birla Sun Life Arbitrage Fund | Zerodha Arbitrage Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.23% | 2.31% |
| Base expense ratio (Direct) | 0.27% | 0.20% |
| Total expense ratio (Regular) | 1.94% | Not available |
| Base expense ratio (Regular) | 0.88% | 0.00% |
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 Zerodha Arbitrage Fund: Frequently Asked Questions
What is the difference between Aditya Birla Sun Life Arbitrage Fund and Zerodha Arbitrage Fund?
Both are Arbitrage funds, run by Aditya Birla Sun Life Mutual Fund and Zerodha Mutual Fund. Their portfolios overlap 27.0%. Aditya Birla Sun Life Arbitrage Fund charges 1.23% a year and Zerodha Arbitrage Fund 2.31%.
Which has the lower expense ratio, Aditya Birla Sun Life Arbitrage Fund or Zerodha Arbitrage Fund?
Aditya Birla Sun Life Arbitrage Fund charges less: 1.23% a year against 2.31%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Aditya Birla Sun Life Arbitrage Fund and Zerodha Arbitrage Fund overlap?
27.0%. They hold 48 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, BHARTIARTL. From each fund's latest monthly portfolio.
Which is riskier, Aditya Birla Sun Life Arbitrage Fund or Zerodha Arbitrage Fund?
On SEBI's riskometer, Aditya Birla Sun Life Arbitrage Fund is rated Low and Zerodha Arbitrage Fund Low. Over their common history, the standard deviation of daily returns was 1.10% and 1.82% a year.
Can I invest in both Aditya Birla Sun Life Arbitrage Fund and Zerodha Arbitrage Fund?
Yes. 27.0% 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 Zerodha Arbitrage Fund?
Aditya Birla Sun Life Arbitrage Fund: Lovelish Solanki, Mohit Sharma, Krina Mehta. Zerodha Arbitrage Fund: Kedarnath Mirajkar.
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.