Aditya Birla Sun Life Msci India ETF vs Kotak Arbitrage Fund
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
Aditya Birla Sun Life Msci India ETF is an ETF fund and Kotak Arbitrage Fund is an Arbitrage fund. Aditya Birla Sun Life Msci India ETF charges 0.22% a year and Kotak Arbitrage Fund 2.31%. Their portfolios overlap 50.8%: they hold 135 of the same securities.
Aditya Birla Sun Life Msci India ETF
ETF
- Expense ratio
- 0.22%
- NAV
- ₹27.93
Which is better, Aditya Birla Sun Life Msci India ETF or Kotak 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 Msci India ETF costs less: 0.22% a year against 2.31%.
- Kotak Arbitrage fell less in its worst fall since 20-02-2026: −0.5% against −12.5%.
- Aditya Birla Sun Life Msci India ETF holds more in large companies: 80.6% of the fund in large caps against 52.1%.
- Kotak Arbitrage is the larger fund: ₹75,275 Cr against ₹11 Cr.
- Their portfolios overlap 50.8%: 135 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 Msci India ETF | Kotak Arbitrage Fund |
|---|---|---|
| Fund house | Aditya Birla Sun Life Mutual Fund | Kotak Mahindra Mutual Fund |
| Category | ETF | Arbitrage |
| AUM | ₹11 Cr (30-09-2026) | ₹75,275 Cr (30-09-2026) |
| NAV | ₹27.93 | ₹43.60 (Direct) |
| Expense ratio (Direct) | Not available | 2.31% |
| Expense ratio (Regular) | Not available | 2.89% |
| Riskometer | Very High | Low |
| Benchmark | MSCI India Index | Nifty 50 Arbitrage Index |
| Launch date | 17-02-2026 | 29-09-2005 |
| Minimum investment | For Subscription / Redemption of units directly with Mutual Fund: Subscription / Redemption facility directly with the Mutual Fund would be restricted to Market Makers and Large Investors. Units of the Scheme may be subscribed to / redeemed only in Creati | ₹100 |
| Lock in | None | None |
| Fund managers | Priya Sridhar, Mehul Dama | Hiten Shah |
| Exit load | NIL | Exit load of 0.25% if redeemed within 30 days |
Aditya Birla Sun Life Msci India ETF vs Kotak 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 Msci India ETF | +0.29% | −5.96% | −3.50% | -- | -- | -- | -- |
| Kotak Arbitrage Fund (Direct) | +0.55% | +1.55% | +3.29% | +6.75% | +7.43% | +6.98% | +6.46% |
| 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 Msci India ETF vs Kotak Arbitrage: Year-wise Returns
| Year | Aditya Birla Sun Life Msci India ETFAditya Birla Sun Life Msci India ETF | Kotak ArbitrageKotak Arbitrage |
|---|---|---|
| 2026to date | -- | +5.53% |
| 2025 | -- | +7.06% |
| 2024 | -- | +8.47% |
| 2023 | -- | +8.01% |
| 2022 | -- | +5.14% |
| 2021 | -- | +4.56% |
Aditya Birla Sun Life Msci India ETF vs Kotak Arbitrage: Rolling Returns
Every holding period of both funds
Aditya Birla Sun Life Msci India ETF vs Kotak 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 Msci India ETF | Kotak Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | −10.53% | +7.07% |
| Standard deviation | 15.37% | 1.02% |
| Sharpe ratio | -1.03 | 1.00 |
| Sortino ratio | -1.35 | 1.52 |
| Maximum drawdown | −12.5% (31-03-2026) | −0.6% (03-06-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 20-02-2026 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 Msci India ETF
Kotak 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 Msci India ETF | −12.5% | 23-02-2026 | 31-03-2026 | 03-08-2026 | 4 months | −7.9% |
| Kotak Arbitrage Fund (Direct) | −0.5% | 03-08-2026 | 06-08-2026 | 24-08-2026 | 18 days | −0.0% |
From daily values since 20-02-2026, the first day every fund has.
Aditya Birla Sun Life Msci India ETF vs Kotak Arbitrage: Portfolio Overlap
From each fund's latest monthly portfolio: Aditya Birla Sun Life Msci India ETF, September 2026; Kotak Arbitrage Fund, September 2026
Holdings in common
- Overlap
- 50.8%
- Held by both
- 135
- Only in Aditya Birla Sun Life Msci India ETF
- 30
- Only in Kotak Arbitrage
- 59
| Security | % of Aditya Birla Sun Life Msci India ETF | % of Kotak Arbitrage |
|---|---|---|
| ICICI Bank Ltd. | 5.59% | 4.17% |
| Reliance Industries Ltd. | 5.44% | 3.06% |
| Axis Bank Ltd. | 2.25% | 2.94% |
| HDFC Bank Ltd. | 6.44% | 2.03% |
| Bharti Airtel Ltd. | 3.93% | 1.45% |
| State Bank of India | 1.41% | 1.35% |
| Infosys Ltd. | 2.41% | 1.25% |
| Bajaj Finance Ltd. | 1.91% | 1.20% |
| Tata Steel Ltd. | 1.10% | 1.53% |
| Hindalco Industries Ltd. | 0.97% | 1.31% |
| Divi's Laboratories Ltd. | 0.88% | 0.96% |
| TVS Motor Company Ltd. | 0.78% | 0.94% |
| Maruti Suzuki India Ltd. | 1.13% | 0.66% |
| Tech Mahindra Ltd. | 0.66% | 0.69% |
| NTPC Ltd. | 1.12% | 0.64% |
| ITC Ltd. | 0.63% | 0.85% |
| JSW Steel Ltd. | 0.61% | 0.74% |
| Shriram Finance Ltd. | 1.11% | 0.59% |
| Hindustan Unilever Ltd. | 1.06% | 0.57% |
| Cholamandalam Investment & Finance Co. Ltd. | 0.55% | 0.88% |
| Samvardhana Motherson International Ltd. | 0.55% | 0.62% |
| Torrent Pharmaceuticals Ltd. | 0.55% | 0.63% |
| Adani Power Ltd. | 0.53% | 1.43% |
| Tata Consultancy Services Ltd. | 1.33% | 0.53% |
| Coal India Ltd. | 0.52% | 1.18% |
| Bajaj Auto Ltd. | 0.58% | 0.52% |
| One 97 Communications Ltd. | 0.51% | 0.57% |
| Cummins India Ltd. | 0.50% | 0.82% |
| The Indian Hotels Company Ltd. | 0.48% | 0.52% |
| Kotak Mahindra Bank Ltd. | 1.82% | 0.47% |
| Mahindra & Mahindra Ltd. | 2.05% | 0.46% |
| Varun Beverages Ltd. | 0.44% | 0.46% |
| GE Vernova T&D India Ltd. | 0.43% | 0.55% |
| Tata Motors Passenger Vehicles Ltd. | 0.42% | 0.43% |
| Tata Consumer Products Ltd. | 0.41% | 0.67% |
| Eicher Motors Ltd. | 0.78% | 0.40% |
| Bharat Petroleum Corporation Ltd. | 0.39% | 0.44% |
| Indus Towers Ltd. | 0.37% | 0.65% |
| Lupin Ltd. | 0.37% | 0.59% |
| Bharat Forge Ltd. | 0.37% | 0.36% |
| Apollo Hospitals Enterprise Ltd. | 0.65% | 0.35% |
| Hindustan Aeronautics Ltd. | 0.62% | 0.35% |
| Aurobindo Pharma Ltd. | 0.35% | 0.39% |
| Ashok Leyland Ltd. | 0.34% | 0.35% |
| Power Finance Corporation Ltd. | 0.34% | 0.80% |
| Interglobe Aviation Ltd. | 0.75% | 0.34% |
| Jio Financial Services Ltd. | 0.46% | 0.34% |
| Info Edge (India) Ltd. | 0.33% | 0.59% |
| HDFC Life Insurance Company Ltd. | 0.41% | 0.33% |
| Marico Ltd. | 0.33% | 0.34% |
| Jindal Steel Ltd. | 0.32% | 0.41% |
| Adani Enterprises Ltd. | 0.59% | 0.32% |
| APL Apollo Tubes Ltd. | 0.31% | 0.61% |
| GAIL (India) Ltd. | 0.31% | 0.44% |
| Titan Company Ltd. | 1.30% | 0.31% |
| Indian Oil Corporation Ltd. | 0.30% | 0.69% |
| Cipla Ltd. | 0.54% | 0.30% |
| PB Fintech Ltd. | 0.29% | 0.67% |
| Larsen & Toubro Ltd. | 2.02% | 0.29% |
| Vedanta Ltd. | 0.28% | 0.31% |
| HDFC Asset Management Co. Ltd. | 0.35% | 0.28% |
| IDFC First Bank Ltd. | 0.27% | 0.47% |
| Vodafone Idea Ltd. | 0.27% | 1.30% |
| Hindustan Petroleum Corporation Ltd. | 0.27% | 0.44% |
| Nestle India Ltd. | 0.60% | 0.25% |
| Bajaj Finserv Ltd. | 0.53% | 0.25% |
| Tata Power Company Ltd. | 0.43% | 0.25% |
| Yes Bank Ltd. | 0.25% | 0.56% |
| Muthoot Finance Ltd. | 0.24% | 0.30% |
| Aditya Birla Capital Ltd. | 0.23% | 0.30% |
| Adani Energy Solutions Ltd. | 0.22% | 0.72% |
| Suzlon Energy Ltd. | 0.32% | 0.22% |
| ICICI Lombard General Insurance Company Ltd. | 0.31% | 0.22% |
| Fortis Healthcare Ltd. | 0.30% | 0.22% |
| SRF Ltd. | 0.26% | 0.22% |
| UPL Ltd. | 0.22% | 0.27% |
| Union Bank of India | 0.21% | 0.25% |
| Mphasis Ltd. | 0.20% | 0.27% |
| Tube Investments of India Ltd. | 0.19% | 0.32% |
| Bank of Baroda | 0.19% | 0.69% |
| NMDC Ltd. | 0.19% | 0.41% |
| Laurus Labs Ltd. | 0.55% | 0.18% |
| Bharat Heavy Electricals Ltd. | 0.40% | 0.18% |
| Ambuja Cements Ltd. | 0.18% | 0.44% |
| JSW Energy Ltd. | 0.18% | 0.27% |
| Godrej Properties Ltd. | 0.18% | 0.40% |
| Canara Bank | 0.17% | 0.55% |
| Alkem Laboratories Ltd. | 0.17% | 0.39% |
| Sun Pharmaceutical Industries Ltd. | 1.30% | 0.17% |
| National Aluminium Company Ltd. | 0.22% | 0.17% |
| Punjab National Bank | 0.21% | 0.17% |
| Ultratech Cement Ltd. | 0.90% | 0.16% |
| HCL Technologies Ltd. | 0.86% | 0.15% |
| SBI Life Insurance Co. Ltd. | 0.61% | 0.15% |
| Hitachi Energy India Ltd. | 0.29% | 0.15% |
| Eternal Ltd. | 1.22% | 0.13% |
| Supreme Industries Ltd. | 0.17% | 0.13% |
| Indian Bank | 0.17% | 0.13% |
| Voltas Ltd. | 0.17% | 0.13% |
| Bharat Electronics Ltd. | 1.07% | 0.12% |
| BSE Ltd. | 0.49% | 0.12% |
| Page Industries Ltd. | 0.17% | 0.12% |
| Oil & Natural Gas Corporation Ltd. | 0.46% | 0.11% |
| Bosch Ltd. | 0.22% | 0.11% |
| Grasim Industries Ltd. | 0.66% | 0.09% |
| United Spirits Ltd. | 0.31% | 0.09% |
| GMR Airports Ltd. | 0.22% | 0.09% |
| Asian Paints Ltd. | 0.73% | 0.08% |
| Avenue Supermarts Ltd. | 0.44% | 0.08% |
| Pidilite Industries Ltd. | 0.33% | 0.08% |
| The Phoenix Mills Ltd. | 0.29% | 0.07% |
| Colgate Palmolive (India) Ltd. | 0.16% | 0.07% |
| Shree Cement Ltd. | 0.15% | 0.07% |
| Trent Ltd. | 0.56% | 0.06% |
| Persistent Systems Ltd. | 0.43% | 0.05% |
| Bajaj Holdings & Investment Ltd. | 0.23% | 0.05% |
| L&T Finance Ltd. | 0.17% | 0.05% |
| Oberoi Realty Ltd. | 0.17% | 0.05% |
| Oil India Ltd. | 0.15% | 0.05% |
| Adani Ports and Special Economic Zone Ltd. | 0.83% | 0.04% |
| Max Healthcare Institute Ltd. | 0.52% | 0.04% |
| Solar Industries India Ltd. | 0.36% | 0.04% |
| Polycab India Ltd. | 0.34% | 0.04% |
| FSN E-Commerce Ventures Ltd. | 0.31% | 0.04% |
| ABB India Ltd. | 0.24% | 0.04% |
| Siemens Energy India Ltd. | 0.21% | 0.04% |
| Prestige Estates Projects Ltd. | 0.20% | 0.04% |
| CG Power and Industrial Solutions Ltd. | 0.43% | 0.02% |
| Lodha Developers Ltd. | 0.25% | 0.02% |
| Hero MotoCorp Ltd. | 0.50% | 0.01% |
| Wipro Ltd. | 0.29% | 0.01% |
| Godrej Consumer Products Ltd. | 0.26% | 0.01% |
| Vishal Mega Mart Ltd. | 0.19% | 0.01% |
| Petronet LNG Ltd. | 0.17% | 0.01% |
| Dabur India Ltd. | 0.13% | 0.01% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 50.8% means 50.8% 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 Msci India ETF
| Security | % of fund |
|---|---|
| Power Grid Corporation of India Ltd. | 0.87% |
| Tata Motors Ltd. | 0.62% |
| Dr. Reddy's Laboratories Ltd. | 0.49% |
| The Federal Bank Ltd. | 0.46% |
| Vedanta Aluminium Metal Ltd. | 0.45% |
Largest holdings only in Kotak Arbitrage Fund
| Security | % of fund |
|---|---|
| Kotak Money Market Fund Direct Growth | 9.78% |
| Kotak Savings Fund Direct Growth | 4.98% |
| Kotak Ultra Short to Short Term Fund | 3.86% |
| Kotak Liquid Direct Growth | 3.13% |
| HDFC BANK LTD. | 1.94% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Aditya Birla Sun Life Msci India ETF | Kotak Arbitrage |
|---|---|---|
| Equity | 99.8% | 71.1% |
| Debt | 0.0% | 5.8% |
| Cash and others | 0.2% | 23.1% |
Market cap of stocks
| Market cap | Aditya Birla Sun Life Msci India ETF | Kotak Arbitrage |
|---|---|---|
| Large Cap | 80.6% | 52.1% |
| Mid Cap | 19.2% | 16.4% |
| Small Cap | 0.0% | 2.6% |
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 Msci India ETF | Kotak Arbitrage |
|---|---|---|
| Banks | 20.3% | 14.4% |
| IT - Software | 6.6% | 3.8% |
| Petroleum Products | 6.4% | 4.6% |
| Finance | 6.3% | 5.7% |
| Automobiles | 6.2% | 3.4% |
| Pharmaceuticals & Biotechnology | 5.6% | 0.0% |
| Pharmaceuticals and Biotechnology | 0.0% | 4.2% |
| Power | 3.7% | 3.9% |
The six largest sectors of each fund's stocks, % of the fund.
Aditya Birla Sun Life Msci India ETF vs Kotak Arbitrage: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Aditya Birla Sun Life Msci India ETF | Kotak Arbitrage Fund |
|---|---|---|
| Total expense ratio (Direct) | Not available | 2.31% |
| Base expense ratio (Direct) | 0.00% | 0.33% |
| Total expense ratio (Regular) | Not available | 2.89% |
| Base expense ratio (Regular) | 0.16% | 0.83% |
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 Msci India ETF vs Kotak Arbitrage Fund: Frequently Asked Questions
What is the difference between Aditya Birla Sun Life Msci India ETF and Kotak Arbitrage Fund?
Aditya Birla Sun Life Msci India ETF is an ETF fund, Kotak Arbitrage Fund is an Arbitrage fund, run by Aditya Birla Sun Life Mutual Fund and Kotak Mahindra Mutual Fund. Their portfolios overlap 50.8%. Aditya Birla Sun Life Msci India ETF charges 0.22% a year and Kotak Arbitrage Fund 2.31%.
Which has the lower expense ratio, Aditya Birla Sun Life Msci India ETF or Kotak Arbitrage Fund?
Aditya Birla Sun Life Msci India ETF charges less: 0.22% a year against 2.31%. These are the total expense ratios reported to AMFI.
How much do Aditya Birla Sun Life Msci India ETF and Kotak Arbitrage Fund overlap?
50.8%. They hold 135 of the same securities, the largest shared ones being ICICIBANK, RELIANCE, AXISBANK. From each fund's latest monthly portfolio.
Which is riskier, Aditya Birla Sun Life Msci India ETF or Kotak Arbitrage Fund?
On SEBI's riskometer, Aditya Birla Sun Life Msci India ETF is rated Very High and Kotak Arbitrage Fund Low. Over their common history, the standard deviation of daily returns was 15.37% and 1.02% a year.
Can I invest in both Aditya Birla Sun Life Msci India ETF and Kotak Arbitrage Fund?
Yes. 50.8% 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 Msci India ETF and Kotak Arbitrage Fund?
Aditya Birla Sun Life Msci India ETF: Priya Sridhar, Mehul Dama. Kotak Arbitrage Fund: Hiten Shah.
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.