Aditya Birla Sun Life Msci India ETF vs Union 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 Union Arbitrage Fund is an Arbitrage fund. Aditya Birla Sun Life Msci India ETF charges 0.22% a year and Union Arbitrage Fund 1.61%. Their portfolios overlap 43.2%: they hold 66 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 Union 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 1.61%.
- Union Arbitrage fell less in its worst fall since 20-02-2026: −0.6% against −12.5%.
- Aditya Birla Sun Life Msci India ETF holds more in large companies: 80.6% of the fund in large caps against 50.9%.
- Union Arbitrage is the larger fund: ₹220 Cr against ₹11 Cr.
- Their portfolios overlap 43.2%: 66 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 | Union Arbitrage Fund |
|---|---|---|
| Fund house | Aditya Birla Sun Life Mutual Fund | Union Mutual Fund |
| Category | ETF | Arbitrage |
| AUM | ₹11 Cr (30-09-2026) | ₹220 Cr (30-09-2026) |
| NAV | ₹27.93 | ₹15.78 (Direct) |
| Expense ratio (Direct) | Not available | 1.61% |
| Expense ratio (Regular) | Not available | 2.23% |
| Riskometer | Very High | Low |
| Benchmark | MSCI India Index | Nifty 50 Arbitrage Index |
| Launch date | 17-02-2026 | 20-02-2019 |
| 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 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Priya Sridhar, Mehul Dama | Vishal Thakker, Devesh Thacker |
| Exit load | NIL | Exit load of 0.25% if redeemed within 1 months. |
Aditya Birla Sun Life Msci India ETF vs Union 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% | -- | -- | -- | -- |
| Union Arbitrage Fund (Direct) | +0.49% | +1.61% | +3.34% | +6.59% | +7.14% | +6.58% | -- |
| Arbitrage average | +0.56% | +1.52% | +3.20% | +6.62% | +7.18% | +6.68% | -- |
Category average: the average of the 39 Arbitrage funds, same plan type.
Aditya Birla Sun Life Msci India ETF vs Union Arbitrage: Year-wise Returns
| Year | Aditya Birla Sun Life Msci India ETFAditya Birla Sun Life Msci India ETF | Union ArbitrageUnion Arbitrage |
|---|---|---|
| 2026to date | -- | +5.45% |
| 2025 | -- | +6.64% |
| 2024 | -- | +8.23% |
| 2023 | -- | +7.62% |
| 2022 | -- | +4.30% |
| 2021 | -- | +4.12% |
Aditya Birla Sun Life Msci India ETF vs Union Arbitrage: Rolling Returns
Every holding period of both funds
Aditya Birla Sun Life Msci India ETF vs Union 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 | Union Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | −10.53% | +6.10% |
| Standard deviation | 15.37% | 1.06% |
| Sharpe ratio | -1.03 | 0.86 |
| Sortino ratio | -1.35 | 1.29 |
| Maximum drawdown | −12.5% (31-03-2026) | −0.6% (25-03-2020) |
| 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
Union 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% |
| Union Arbitrage Fund (Direct) | −0.6% | 03-08-2026 | 06-08-2026 | 01-09-2026 | 26 days | −0.1% |
From daily values since 20-02-2026, the first day every fund has.
Aditya Birla Sun Life Msci India ETF vs Union Arbitrage: Portfolio Overlap
From each fund's latest monthly portfolio: Aditya Birla Sun Life Msci India ETF, September 2026; Union Arbitrage Fund, September 2026
Holdings in common
- Overlap
- 43.2%
- Held by both
- 66
- Only in Aditya Birla Sun Life Msci India ETF
- 99
- Only in Union Arbitrage
- 15
| Security | % of Aditya Birla Sun Life Msci India ETF | % of Union Arbitrage |
|---|---|---|
| Reliance Industries Ltd. | 5.44% | 3.03% |
| ICICI Bank Ltd. | 5.59% | 2.19% |
| HDFC Bank Ltd. | 6.44% | 1.80% |
| Kotak Mahindra Bank Ltd. | 1.82% | 1.78% |
| State Bank of India | 1.41% | 1.44% |
| Axis Bank Ltd. | 2.25% | 1.36% |
| Bajaj Finance Ltd. | 1.91% | 1.31% |
| Tata Steel Ltd. | 1.10% | 1.85% |
| Sun Pharmaceutical Industries Ltd. | 1.30% | 1.10% |
| Infosys Ltd. | 2.41% | 1.09% |
| NTPC Ltd. | 1.12% | 0.99% |
| Hindalco Industries Ltd. | 0.97% | 1.05% |
| Mahindra & Mahindra Ltd. | 2.05% | 0.94% |
| Titan Company Ltd. | 1.30% | 0.88% |
| Bharti Airtel Ltd. | 3.93% | 0.87% |
| Adani Ports and Special Economic Zone Ltd. | 0.83% | 1.21% |
| Eicher Motors Ltd. | 0.78% | 1.33% |
| Larsen & Toubro Ltd. | 2.02% | 0.78% |
| TVS Motor Company Ltd. | 0.78% | 1.05% |
| Shriram Finance Ltd. | 1.11% | 0.77% |
| Interglobe Aviation Ltd. | 0.75% | 0.95% |
| Hindustan Unilever Ltd. | 1.06% | 0.74% |
| Maruti Suzuki India Ltd. | 1.13% | 0.71% |
| Divi's Laboratories Ltd. | 0.88% | 0.68% |
| Apollo Hospitals Enterprise Ltd. | 0.65% | 0.98% |
| ITC Ltd. | 0.63% | 0.83% |
| JSW Steel Ltd. | 0.61% | 1.81% |
| SBI Life Insurance Co. Ltd. | 0.61% | 0.75% |
| Bajaj Auto Ltd. | 0.58% | 0.59% |
| Ultratech Cement Ltd. | 0.90% | 0.57% |
| Cholamandalam Investment & Finance Co. Ltd. | 0.55% | 0.92% |
| Bajaj Finserv Ltd. | 0.53% | 0.57% |
| Coal India Ltd. | 0.52% | 0.63% |
| One 97 Communications Ltd. | 0.51% | 1.33% |
| Hero MotoCorp Ltd. | 0.50% | 0.68% |
| BSE Ltd. | 0.49% | 1.29% |
| The Federal Bank Ltd. | 0.46% | 1.01% |
| Jio Financial Services Ltd. | 0.46% | 0.95% |
| Bharat Electronics Ltd. | 1.07% | 0.43% |
| Tata Consumer Products Ltd. | 0.41% | 1.05% |
| HDFC Life Insurance Company Ltd. | 0.41% | 0.52% |
| Bharat Heavy Electricals Ltd. | 0.40% | 0.89% |
| Cipla Ltd. | 0.54% | 0.39% |
| IndusInd Bank Ltd. | 0.41% | 0.37% |
| Bharat Forge Ltd. | 0.37% | 0.66% |
| Power Grid Corporation of India Ltd. | 0.87% | 0.36% |
| Torrent Pharmaceuticals Ltd. | 0.55% | 0.36% |
| Polycab India Ltd. | 0.34% | 0.82% |
| Multi Commodity Exchange of India Ltd. | 0.33% | 0.44% |
| Jindal Steel Ltd. | 0.32% | 0.65% |
| Nestle India Ltd. | 0.60% | 0.30% |
| PB Fintech Ltd. | 0.29% | 2.10% |
| Tech Mahindra Ltd. | 0.66% | 0.29% |
| Vodafone Idea Ltd. | 0.27% | 2.36% |
| Yes Bank Ltd. | 0.25% | 0.53% |
| Muthoot Finance Ltd. | 0.24% | 0.41% |
| Adani Energy Solutions Ltd. | 0.22% | 0.36% |
| UPL Ltd. | 0.22% | 2.10% |
| Bank of Baroda | 0.19% | 0.40% |
| NMDC Ltd. | 0.19% | 0.24% |
| Ambuja Cements Ltd. | 0.18% | 0.69% |
| L&T Finance Ltd. | 0.17% | 1.11% |
| Zydus Lifesciences Ltd. | 0.17% | 0.48% |
| JSW Energy Ltd. | 0.18% | 0.17% |
| Hindustan Aeronautics Ltd. | 0.62% | 0.16% |
| Bharat Petroleum Corporation Ltd. | 0.39% | 0.03% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 43.2% means 43.2% 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 |
|---|---|
| Tata Consultancy Services Ltd. | 1.33% |
| Eternal Ltd. | 1.22% |
| HCL Technologies Ltd. | 0.86% |
| Asian Paints Ltd. | 0.73% |
| Grasim Industries Ltd. | 0.66% |
Largest holdings only in Union Arbitrage Fund
| Security | % of fund |
|---|---|
| Union Money Market Fund - Direct Plan - | 13.38% |
| Bank of Baroda | 6.63% |
| Patanjali Foods Ltd. | 3.91% |
| Steel Authority of India Ltd. | 0.93% |
| Delhivery Ltd. | 0.70% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Aditya Birla Sun Life Msci India ETF | Union Arbitrage |
|---|---|---|
| Equity | 99.8% | 70.6% |
| Debt | 0.0% | 6.9% |
| Cash and others | 0.2% | 22.6% |
Market cap of stocks
| Market cap | Aditya Birla Sun Life Msci India ETF | Union Arbitrage |
|---|---|---|
| Large Cap | 80.6% | 50.9% |
| Mid Cap | 19.2% | 18.2% |
| Small Cap | 0.0% | 1.4% |
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 | Union Arbitrage |
|---|---|---|
| Banks | 20.3% | 11.3% |
| IT - Software | 6.6% | 1.8% |
| Petroleum Products | 6.4% | 3.1% |
| Finance | 6.3% | 6.3% |
| Automobiles | 6.2% | 5.3% |
| Pharmaceuticals & Biotechnology | 5.6% | 3.6% |
| Ferrous Metals | 2.2% | 5.2% |
| Agricultural Food & other Products | 0.7% | 5.0% |
The six largest sectors of each fund's stocks, % of the fund.
Aditya Birla Sun Life Msci India ETF vs Union Arbitrage: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Aditya Birla Sun Life Msci India ETF | Union Arbitrage Fund |
|---|---|---|
| Total expense ratio (Direct) | Not available | 1.61% |
| Base expense ratio (Direct) | 0.00% | 0.34% |
| Total expense ratio (Regular) | Not available | 2.23% |
| Base expense ratio (Regular) | 0.16% | 0.87% |
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 Union Arbitrage Fund: Frequently Asked Questions
What is the difference between Aditya Birla Sun Life Msci India ETF and Union Arbitrage Fund?
Aditya Birla Sun Life Msci India ETF is an ETF fund, Union Arbitrage Fund is an Arbitrage fund, run by Aditya Birla Sun Life Mutual Fund and Union Mutual Fund. Their portfolios overlap 43.2%. Aditya Birla Sun Life Msci India ETF charges 0.22% a year and Union Arbitrage Fund 1.61%.
Which has the lower expense ratio, Aditya Birla Sun Life Msci India ETF or Union Arbitrage Fund?
Aditya Birla Sun Life Msci India ETF charges less: 0.22% a year against 1.61%. These are the total expense ratios reported to AMFI.
How much do Aditya Birla Sun Life Msci India ETF and Union Arbitrage Fund overlap?
43.2%. They hold 66 of the same securities, the largest shared ones being RELIANCE, ICICIBANK, HDFCBANK. From each fund's latest monthly portfolio.
Which is riskier, Aditya Birla Sun Life Msci India ETF or Union Arbitrage Fund?
On SEBI's riskometer, Aditya Birla Sun Life Msci India ETF is rated Very High and Union Arbitrage Fund Low. Over their common history, the standard deviation of daily returns was 15.37% and 1.06% a year.
Can I invest in both Aditya Birla Sun Life Msci India ETF and Union Arbitrage Fund?
Yes. 43.2% 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 Union Arbitrage Fund?
Aditya Birla Sun Life Msci India ETF: Priya Sridhar, Mehul Dama. Union Arbitrage Fund: Vishal Thakker, Devesh Thacker.
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.