Bajaj Finserv Arbitrage Fund vs Groww NIFTY 200 ETF
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
Bajaj Finserv Arbitrage Fund is an Arbitrage fund and Groww NIFTY 200 ETF is an ETF fund. In the year to 30-10-2026, Bajaj Finserv Arbitrage Fund (Direct) returned 6.6% and Groww NIFTY 200 ETF returned −8.2%. Bajaj Finserv Arbitrage Fund charges 1.29% a year and Groww NIFTY 200 ETF 0.43%. Their portfolios overlap 49.6%: they hold 105 of the same securities.
Bajaj Finserv Arbitrage Fund
Arbitrage
- 1 year return
- 6.6%
- Expense ratio
- 1.29%
- NAV
- ₹12.36
Which is better, Bajaj Finserv Arbitrage or Groww NIFTY 200 ETF? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Bajaj Finserv Arbitrage returned more over 1 year: 6.6% against −8.2%.
- Groww NIFTY 200 ETF costs less: 0.43% a year against 1.29%.
- Bajaj Finserv Arbitrage fell less in its worst fall since 27-02-2025: −0.4% against −14.8%.
- Groww NIFTY 200 ETF holds more in large companies: 79.6% of the fund in large caps against 52.9%.
- Bajaj Finserv Arbitrage is the larger fund: ₹1,375 Cr against ₹16 Cr.
- Their portfolios overlap 49.6%: 105 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 | Bajaj Finserv Arbitrage Fund | Groww NIFTY 200 ETF |
|---|---|---|
| Fund house | Bajaj Finserv Mutual Fund | Groww Mutual Fund |
| Category | Arbitrage | ETF |
| AUM | ₹1,375 Cr (30-09-2026) | ₹16 Cr (30-09-2026) |
| NAV | ₹12.36 (Direct) | ₹10.72 |
| Expense ratio (Direct) | 1.29% | Not available |
| Expense ratio (Regular) | 1.99% | Not available |
| Riskometer | Low | Very High |
| Benchmark | Nifty 50 Arbitrage TRI | Nifty 200 TRI |
| Launch date | 15-09-2023 | 25-02-2025 |
| Minimum investment | ₹500 | ₹500 |
| Lock in | None | None |
| Fund managers | Ilesh Savla, Siddharth Chaudhary | Nikhil Satam, Aakash Chauhan, Shashi Kumar |
| Exit load | Entry load – not applicable Exit load – 0.25% of applicable NAV if redeemed/switched out within 15 days from the date of allotment. Nil if redeemed/switched out after 15 days from the date of allotment. | Nil |
Bajaj Finserv Arbitrage vs Groww NIFTY 200 ETF: 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 |
|---|---|---|---|---|---|---|---|
| Bajaj Finserv Arbitrage Fund (Direct) | +0.50% | +1.50% | +3.18% | +6.61% | +6.98% | -- | -- |
| Groww NIFTY 200 ETF | +0.13% | −6.00% | −3.35% | −8.21% | -- | -- | -- |
| Arbitrage average | +0.56% | +1.52% | +3.20% | +6.62% | +7.18% | -- | -- |
Category average: the average of the 39 Arbitrage funds, same plan type.
Bajaj Finserv Arbitrage vs Groww NIFTY 200 ETF: Year-wise Returns
| Year | Bajaj Finserv ArbitrageBajaj Finserv Arbitrage | Groww NIFTY 200 ETFGroww NIFTY 200 ETF |
|---|---|---|
| 2026to date | +5.41% | −8.79% |
| 2025 | +6.75% | -- |
| 2024 | +7.61% | -- |
Bajaj Finserv Arbitrage vs Groww NIFTY 200 ETF: Rolling Returns
Every holding period of both funds, against Nifty 200 TRI, the benchmark of Groww NIFTY 200 ETF
Rolling returns
Every 1-year holding period, 164 of them, one for each trading day from 27-02-2026 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.
Bajaj Finserv Arbitrage Fund (Direct)
Groww NIFTY 200 ETF
Nifty 200 TRI
to
Mar 2026Apr 2025
to
Apr 2026Jun 2025
to
Jun 2026Jul 2025
to
Jul 2026Sept 2025
to
Sept 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 | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Bajaj Finserv Arbitrage | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 6.5% | 6.5% | 6.1% | 6.9% | 88% |
| Groww NIFTY 200 ETF | 46.3 | 37.8 | 11.6 | 3.7 | 0.6 | 0.0 | 0.0 | 0.8% | 0.3% | −9.9% | 15.6% | 0% |
| Nifty 200 TRI | 42.1 | 40.2 | 13.4 | 3.0 | 1.2 | 0.0 | 0.0 | 1.2% | 0.7% | −9.6% | 16.1% | -- |
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. The benchmark is Nifty 200 TRI, over the same periods. "Beat benchmark" counts the periods in which the fund did better. Every fund is measured over the days all of them have, from 27-02-2025. Past returns do not promise future returns.
Bajaj Finserv Arbitrage vs Groww NIFTY 200 ETF: 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 03-02-2025 to 30-10-2026: 21 instalments, ₹2,10,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Bajaj Finserv ArbitrageBajaj Finserv Arbitrage Fund (Direct) | ₹2,10,000 | ₹2,22,508 | ₹12,508 | 6.5% |
| Groww NIFTY 200 ETFGroww NIFTY 200 ETF | ₹2,10,000 | ₹2,04,546 | −₹5,454 | −2.9% |
Bajaj Finserv ArbitrageBajaj Finserv Arbitrage Fund (Direct)
Groww NIFTY 200 ETFGroww NIFTY 200 ETF
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.
Bajaj Finserv Arbitrage vs Groww NIFTY 200 ETF: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Bajaj Finserv Arbitrage Fund (Direct) | Groww NIFTY 200 ETF |
|---|---|---|
| Return (CAGR) | +6.61% | −8.21% |
| Standard deviation | 1.39% | 14.33% |
| Sharpe ratio | 0.98 | -0.94 |
| Sortino ratio | 1.51 | -1.24 |
| Maximum drawdown | −0.4% (06-08-2026) | −14.8% (31-03-2026) |
| Beta | -- | 1.00 |
| Alpha | -- | −0.38% |
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 | Bajaj Finserv Arbitrage Fund (Direct) | Groww NIFTY 200 ETF |
|---|---|---|
| Return (CAGR) | +7.00% | +4.51% |
| Standard deviation | 1.08% | 13.84% |
| Sharpe ratio | 0.87 | -0.07 |
| Sortino ratio | 1.33 | -0.09 |
| Maximum drawdown | −0.4% (06-08-2026) | −14.8% (31-03-2026) |
| Beta | -- | 1.00 |
| Alpha | -- | −0.43% |
From daily NAVs, 18-09-2023 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.
Bajaj Finserv Arbitrage Fund (Direct)
Groww NIFTY 200 ETF
Nifty 200 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Bajaj Finserv Arbitrage Fund (Direct) | −0.4% | 03-08-2026 | 06-08-2026 | 24-08-2026 | 18 days | −0.0% |
| Groww NIFTY 200 ETF | −14.8% | 02-01-2026 | 31-03-2026 | Not yet | -- | −9.7% |
| Nifty 200 TRI | −14.8% | 02-01-2026 | 30-03-2026 | Not yet | -- | −9.4% |
From daily values since 27-02-2025, 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.
Bajaj Finserv Arbitrage Fund (Direct)
Groww NIFTY 200 ETF
Nifty 200 TRI
Against Nifty 200 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Bajaj Finserv Arbitrage Fund (Direct) | 18% | -15% | 15.82% |
| Groww NIFTY 200 ETF | 99% | 101% | 0.06% |
From month-end values since 27-02-2025. Up capture: a fund's average month when the benchmark rose, as % of the benchmark's; above 100% it gained more. Down capture: the same for months the benchmark fell; below 100% it fell less. Tracking error: how far the monthly returns strayed from the benchmark's, a year; an index fund aims near 0.
Bajaj Finserv Arbitrage vs Groww NIFTY 200 ETF: Portfolio Overlap
From each fund's latest monthly portfolio: Bajaj Finserv Arbitrage Fund, September 2026; Groww NIFTY 200 ETF, September 2026
Holdings in common
- Overlap
- 49.6%
- Held by both
- 105
- Only in Bajaj Finserv Arbitrage
- 18
- Only in Groww NIFTY 200 ETF
- 95
| Security | % of Bajaj Finserv Arbitrage | % of Groww NIFTY 200 ETF |
|---|---|---|
| HDFC Bank Limited | 6.18% | 6.72% |
| ICICI Bank Limited | 6.41% | 5.86% |
| Reliance Industries Limited | 5.21% | 4.91% |
| Bharti Airtel Limited | 2.08% | 3.31% |
| Bajaj Finance Limited | 2.36% | 1.62% |
| Axis Bank Limited | 1.35% | 2.18% |
| State Bank of India | 1.22% | 2.45% |
| Mahindra & Mahindra Limited | 1.08% | 1.63% |
| Larsen & Toubro Limited | 0.95% | 2.72% |
| NTPC Limited | 1.39% | 0.95% |
| Bharat Electronics Limited | 1.31% | 0.86% |
| Hindalco Industries Limited | 1.05% | 0.84% |
| ITC Limited | 0.84% | 1.57% |
| Tata Steel Limited | 0.83% | 0.95% |
| Infosys Limited | 0.80% | 2.17% |
| Maruti Suzuki India Limited | 0.72% | 0.96% |
| Kotak Mahindra Bank Limited | 0.71% | 1.90% |
| Adani Enterprises Limited | 0.86% | 0.61% |
| BSE Limited | 0.56% | 0.78% |
| Adani Ports and Special Economic Zone Limited | 0.55% | 0.87% |
| Multi Commodity Exchange of India Limited | 0.66% | 0.52% |
| Apollo Hospitals Enterprise Limited | 0.73% | 0.51% |
| The Federal Bank Limited | 0.58% | 0.48% |
| Cipla Limited | 0.62% | 0.47% |
| Jio Financial Services Limited | 0.82% | 0.44% |
| The Indian Hotels Company Limited | 0.46% | 0.40% |
| Bharat Heavy Electricals Limited | 0.55% | 0.37% |
| IndusInd Bank Limited | 0.59% | 0.37% |
| AU Small Finance Bank Limited | 0.40% | 0.36% |
| Hindustan Unilever Limited | 0.35% | 1.03% |
| HDFC Life Insurance Company Limited | 0.42% | 0.35% |
| IDFC First Bank Limited | 1.62% | 0.33% |
| Tata Consultancy Services Limited | 0.33% | 1.29% |
| Bajaj Finserv Limited | 0.33% | 0.62% |
| Life Insurance Corporation Of India | 0.68% | 0.31% |
| Indus Towers Limited | 0.60% | 0.30% |
| Power Finance Corporation Limited | 0.58% | 0.29% |
| Suzlon Energy Limited | 0.29% | 0.30% |
| Solar Industries India Limited | 0.55% | 0.29% |
| Tata Power Company Limited | 0.28% | 0.37% |
| Eternal Limited | 0.28% | 1.43% |
| Samvardhana Motherson International Limited | 0.28% | 0.45% |
| Ashok Leyland Limited | 0.62% | 0.27% |
| Shriram Finance Limited | 0.27% | 0.85% |
| SBI Life Insurance Company Limited | 0.26% | 0.47% |
| Trent Limited | 0.25% | 0.54% |
| Canara Bank | 2.44% | 0.25% |
| Punjab National Bank | 1.10% | 0.24% |
| Eicher Motors Limited | 0.24% | 0.61% |
| PB Fintech Limited | 0.74% | 0.23% |
| TVS Motor Company Limited | 0.23% | 0.60% |
| HCL Technologies Limited | 0.23% | 0.80% |
| Yes Bank Limited | 0.58% | 0.23% |
| Vodafone Idea Limited | 0.85% | 0.22% |
| Coal India Limited | 0.21% | 0.63% |
| Aditya Birla Capital Limited | 0.57% | 0.20% |
| Marico Limited | 0.20% | 0.26% |
| Laurus Labs Limited | 0.20% | 0.48% |
| Hindustan Aeronautics Limited | 0.19% | 0.55% |
| Pidilite Industries Limited | 0.19% | 0.28% |
| Mphasis Limited | 0.19% | 0.18% |
| Hindustan Zinc Limited | 0.99% | 0.17% |
| NMDC Limited | 0.95% | 0.16% |
| Steel Authority of India Limited | 2.92% | 0.16% |
| Oil & Natural Gas Corporation Limited | 0.16% | 0.54% |
| Ambuja Cements Limited | 0.20% | 0.14% |
| Adani Energy Solutions Limited | 0.14% | 0.26% |
| Tube Investments of India Limited | 0.14% | 0.16% |
| Godrej Properties Limited | 0.32% | 0.14% |
| Kalyan Jewellers India Limited | 0.24% | 0.13% |
| Fortis Healthcare Limited | 0.13% | 0.25% |
| Supreme Industries Limited | 0.13% | 0.14% |
| Adani Power Limited | 0.13% | 0.53% |
| Glenmark Pharmaceuticals Limited | 0.13% | 0.22% |
| Sun Pharmaceutical Industries Limited | 0.12% | 1.19% |
| Max Financial Services Limited | 0.12% | 0.22% |
| Avenue Supermarts Limited | 0.12% | 0.38% |
| Voltas Limited | 0.12% | 0.15% |
| Coforge Limited | 0.12% | 0.38% |
| HDFC Asset Management Company Limited | 0.11% | 0.29% |
| Cholamandalam Investment and Finance Company Ltd | 0.10% | 0.43% |
| LIC Housing Finance Limited | 0.56% | 0.10% |
| One 97 Communications Limited | 0.09% | 0.45% |
| Titan Company Limited | 0.08% | 1.17% |
| Patanjali Foods Limited | 0.21% | 0.08% |
| Bank of Baroda | 0.07% | 0.26% |
| Hitachi Energy India Limited | 0.06% | 0.23% |
| Premier Energies Limited | 0.06% | 0.08% |
| Union Bank of India | 0.06% | 0.20% |
| APL Apollo Tubes Limited | 0.06% | 0.25% |
| SBI Cards and Payment Services Limited | 0.05% | 0.11% |
| Varun Beverages Limited | 0.05% | 0.37% |
| Indian Oil Corporation Limited | 0.05% | 0.31% |
| Aurobindo Pharma Limited | 0.05% | 0.29% |
| JSW Steel Limited | 0.04% | 0.75% |
| Asian Paints Limited | 0.04% | 0.67% |
| InterGlobe Aviation Limited | 0.04% | 0.70% |
| Jindal Steel Limited | 0.04% | 0.26% |
| Mazagon Dock Shipbuilders Limited | 0.03% | 0.10% |
| GMR Airports Limited | 0.03% | 0.20% |
| Swiggy Limited | 0.02% | 0.23% |
| Hero MotoCorp Limited | 0.01% | 0.42% |
| DLF Limited | 0.01% | 0.27% |
| Divi's Laboratories Limited | 0.01% | 0.73% |
| Biocon Limited | 0.01% | 0.16% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 49.6% means 49.6% 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 Bajaj Finserv Arbitrage Fund
| Security | % of fund |
|---|---|
| Bajaj Finserv Liquid Fund - Direct Plan - Growth | 13.03% |
| Bajaj Finserv Money Market Fund-Direct Plan-Growth | 12.06% |
| Indian Bank (12/01/2027) | 1.78% |
| Bandhan Bank Limited | 0.97% |
| Crompton Greaves Consumer Electricals Limited | 0.34% |
Largest holdings only in Groww NIFTY 200 ETF
| Security | % of fund |
|---|---|
| UltraTech Cement Limited | 0.80% |
| Bajaj Auto Limited | 0.73% |
| Power Grid Corporation of India Limited | 0.73% |
| Grasim Industries Limited | 0.71% |
| Tech Mahindra Limited | 0.60% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Bajaj Finserv Arbitrage | Groww NIFTY 200 ETF |
|---|---|---|
| Equity | 69.8% | 99.9% |
| Debt | 1.8% | 0.0% |
| Cash and others | 28.4% | 0.1% |
Market cap of stocks
| Market cap | Bajaj Finserv Arbitrage | Groww NIFTY 200 ETF |
|---|---|---|
| Large Cap | 52.9% | 79.6% |
| Mid Cap | 13.7% | 19.9% |
| Small Cap | 3.1% | 0.3% |
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 | Bajaj Finserv Arbitrage | Groww NIFTY 200 ETF |
|---|---|---|
| Banks | 24.4% | 22.2% |
| IT - Software | 1.7% | 6.4% |
| Finance | 5.9% | 5.9% |
| Petroleum Products | 5.3% | 5.8% |
| Automobiles | 2.3% | 5.5% |
| Pharmaceuticals & Biotechnology | 1.1% | 5.1% |
| Telecom - Services | 3.5% | 3.9% |
| Ferrous Metals | 3.8% | 2.1% |
The six largest sectors of each fund's stocks, % of the fund.
Bajaj Finserv Arbitrage vs Groww NIFTY 200 ETF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Bajaj Finserv Arbitrage Fund | Groww NIFTY 200 ETF |
|---|---|---|
| Total expense ratio (Direct) | 1.29% | Not available |
| Base expense ratio (Direct) | 0.31% | 0.35% |
| Total expense ratio (Regular) | 1.99% | Not available |
| Base expense ratio (Regular) | 0.90% | 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
Bajaj Finserv Arbitrage Fund vs Groww NIFTY 200 ETF: Frequently Asked Questions
What is the difference between Bajaj Finserv Arbitrage Fund and Groww NIFTY 200 ETF?
Bajaj Finserv Arbitrage Fund is an Arbitrage fund, Groww NIFTY 200 ETF is an ETF fund, run by Bajaj Finserv Mutual Fund and Groww Mutual Fund. Their portfolios overlap 49.6%. Bajaj Finserv Arbitrage Fund charges 1.29% a year and Groww NIFTY 200 ETF 0.43%.
Which has given higher returns, Bajaj Finserv Arbitrage Fund or Groww NIFTY 200 ETF?
Over 1 year: Bajaj Finserv Arbitrage Fund +6.61%, Groww NIFTY 200 ETF −8.21%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Bajaj Finserv Arbitrage Fund or Groww NIFTY 200 ETF?
Groww NIFTY 200 ETF charges less: 0.43% a year against 1.29%. These are the total expense ratios reported to AMFI.
How much do Bajaj Finserv Arbitrage Fund and Groww NIFTY 200 ETF overlap?
49.6%. They hold 105 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, RELIANCE. From each fund's latest monthly portfolio.
Which is riskier, Bajaj Finserv Arbitrage Fund or Groww NIFTY 200 ETF?
On SEBI's riskometer, Bajaj Finserv Arbitrage Fund is rated Low and Groww NIFTY 200 ETF Very High. Over 1 years, the standard deviation of daily returns was 1.39% and 14.33% a year.
Can I invest in both Bajaj Finserv Arbitrage Fund and Groww NIFTY 200 ETF?
Yes. 49.6% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Bajaj Finserv Arbitrage Fund and Groww NIFTY 200 ETF?
Bajaj Finserv Arbitrage Fund: Ilesh Savla, Siddharth Chaudhary. Groww NIFTY 200 ETF: Nikhil Satam, Aakash Chauhan, Shashi Kumar.
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.