Bajaj Finserv Arbitrage Fund vs SBI BSE 100 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 SBI BSE 100 ETF is a mutual fund. In the 3 years to 30-10-2026, Bajaj Finserv Arbitrage Fund (Direct) returned 7.0% a year and SBI BSE 100 ETF (Regular) returned 8.8% a year. Bajaj Finserv Arbitrage Fund charges 1.29% a year and SBI BSE 100 ETF 0.16%. Their portfolios overlap 47.5%: they hold 71 of the same securities.
Bajaj Finserv Arbitrage Fund
Arbitrage
- 3 year return
- 7.0%
- Expense ratio
- 1.29%
- NAV
- ₹12.36
Which is better, Bajaj Finserv Arbitrage or SBI BSE 100 ETF? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- SBI BSE 100 ETF returned more over 3 years: 8.8% a year against 7.0%.
- Bajaj Finserv Arbitrage returned more over 1 year: 6.6% against −9.1%.
- SBI BSE 100 ETF costs less: 0.16% a year against 1.29%.
- Bajaj Finserv Arbitrage swung less over 3 years: a standard deviation of 1.1% a year against 13.5%.
- Bajaj Finserv Arbitrage fell less in its worst fall since 18-09-2023: −0.4% against −16.7%.
- SBI BSE 100 ETF holds more in large companies: 90.2% of the fund in large caps against 52.9%.
- Bajaj Finserv Arbitrage is the larger fund: ₹1,375 Cr against ₹9 Cr.
- Their portfolios overlap 47.5%: 71 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 | SBI BSE 100 ETF |
|---|---|---|
| Fund house | Bajaj Finserv Mutual Fund | SBI Mutual Fund |
| Category | Arbitrage | Not available |
| AUM | ₹1,375 Cr (30-09-2026) | ₹9 Cr (30-09-2026) |
| NAV | ₹12.36 (Direct) | ₹272.01 (Regular) |
| Expense ratio (Direct) | 1.29% | Not available |
| Expense ratio (Regular) | 1.99% | 0.16% |
| Riskometer | Low | Not available |
| Benchmark | Nifty 50 Arbitrage TRI | Not available |
| Launch date | 15-09-2023 | Not available |
| Minimum investment | ₹500 | Not available |
| Lock in | None | Not available |
| Fund managers | Ilesh Savla, Siddharth Chaudhary | Not available |
| 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. | Not available |
Bajaj Finserv Arbitrage vs SBI BSE 100 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% | -- | -- |
| SBI BSE 100 ETF (Regular) | +0.93% | −5.53% | −2.97% | −9.05% | +8.78% | +7.62% | +11.52% |
| 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 SBI BSE 100 ETF: Year-wise Returns
| Year | Bajaj Finserv ArbitrageBajaj Finserv Arbitrage | SBI BSE 100 ETFSBI BSE 100 ETF |
|---|---|---|
| 2026to date | +5.41% | −9.80% |
| 2025 | +6.75% | +10.33% |
| 2024 | +7.61% | +13.11% |
| 2023 | -- | +23.07% |
| 2022 | -- | +5.85% |
| 2021 | -- | +26.33% |
Bajaj Finserv Arbitrage vs SBI BSE 100 ETF: Rolling Returns
Every holding period of both funds, against BSE 100 TRI, the benchmark of SBI BSE 100 ETF
Rolling returns
Every 3-year holding period, 27 of them, one for each trading day from 18-09-2026 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)
SBI BSE 100 ETF (Regular)
BSE 100 TRI
to
Sept 2026Sept 2023
to
Sept 2026Oct 2023
to
Oct 2026Oct 2023
to
Oct 2026Oct 2023
to
Oct 2026Oct 2023
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 | 7.0% | 7.0% | 6.9% | 7.0% | 4% |
| SBI BSE 100 ETF | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7.9% | 7.8% | 6.8% | 8.9% | 0% |
| BSE 100 TRI | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 8.1% | 8.0% | 7.0% | 9.1% | -- |
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 BSE 100 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 18-09-2023. Past returns do not promise future returns.
Bajaj Finserv Arbitrage vs SBI BSE 100 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 18-09-2023 to 30-10-2026: 38 instalments, ₹3,80,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Bajaj Finserv ArbitrageBajaj Finserv Arbitrage Fund (Direct) | ₹3,80,000 | ₹4,23,141 | ₹43,141 | 6.8% |
| SBI BSE 100 ETFSBI BSE 100 ETF (Regular) | ₹3,80,000 | ₹3,85,394 | ₹5,394 | 0.9% |
Bajaj Finserv ArbitrageBajaj Finserv Arbitrage Fund (Direct)
SBI BSE 100 ETFSBI BSE 100 ETF (Regular)
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 SBI BSE 100 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) | SBI BSE 100 ETF (Regular) |
|---|---|---|
| Return (CAGR) | +6.61% | −9.05% |
| Standard deviation | 1.39% | 13.91% |
| Sharpe ratio | 0.98 | -1.03 |
| Sortino ratio | 1.51 | -1.36 |
| Maximum drawdown | −0.4% (06-08-2026) | −15.0% (31-03-2026) |
| Beta | -- | 1.00 |
| Alpha | -- | −0.16% |
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) | SBI BSE 100 ETF (Regular) |
|---|---|---|
| Return (CAGR) | +6.98% | +8.78% |
| Standard deviation | 1.10% | 13.55% |
| Sharpe ratio | 0.87 | 0.20 |
| Sortino ratio | 1.32 | 0.28 |
| Maximum drawdown | −0.4% (06-08-2026) | −16.7% (28-02-2025) |
| Beta | -- | 1.00 |
| Alpha | -- | −0.18% |
From daily NAVs, 30-10-2023 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.
| Measure | Bajaj Finserv Arbitrage Fund (Direct) | SBI BSE 100 ETF (Regular) |
|---|---|---|
| Return (CAGR) | +7.00% | +10.40% |
| Standard deviation | 1.08% | 15.99% |
| Sharpe ratio | 0.87 | 0.30 |
| Sortino ratio | 1.33 | 0.40 |
| Maximum drawdown | −0.4% (06-08-2026) | −38.2% (23-03-2020) |
| Beta | -- | 1.00 |
| Alpha | -- | −0.44% |
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)
SBI BSE 100 ETF (Regular)
BSE 100 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% |
| SBI BSE 100 ETF (Regular) | −16.7% | 26-09-2024 | 28-02-2025 | 20-11-2025 | 9 months | −10.6% |
| BSE 100 TRI | −16.7% | 26-09-2024 | 28-02-2025 | 20-11-2025 | 9 months | −10.4% |
From daily values since 18-09-2023, 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)
SBI BSE 100 ETF (Regular)
BSE 100 TRI
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 3-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Bajaj Finserv Arbitrage Fund (Direct)
SBI BSE 100 ETF (Regular)
BSE 100 TRI
Against BSE 100 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Bajaj Finserv Arbitrage Fund (Direct) | 19% | -16% | 14.61% |
| SBI BSE 100 ETF (Regular) | 99% | 100% | 0.02% |
From month-end values since 18-09-2023. 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 SBI BSE 100 ETF: Portfolio Overlap
From each fund's latest monthly portfolio: Bajaj Finserv Arbitrage Fund, September 2026; SBI BSE 100 ETF, September 2026
Holdings in common
- Overlap
- 47.5%
- Held by both
- 71
- Only in Bajaj Finserv Arbitrage
- 52
- Only in SBI BSE 100 ETF
- 29
| Security | % of Bajaj Finserv Arbitrage | % of SBI BSE 100 ETF |
|---|---|---|
| ICICI Bank Limited | 6.41% | 7.24% |
| HDFC Bank Limited | 6.18% | 8.26% |
| Reliance Industries Limited | 5.21% | 6.01% |
| Bharti Airtel Limited | 2.08% | 4.18% |
| Bajaj Finance Limited | 2.36% | 1.96% |
| Axis Bank Limited | 1.35% | 2.68% |
| State Bank of India | 1.22% | 3.04% |
| NTPC Limited | 1.39% | 1.17% |
| Mahindra & Mahindra Limited | 1.08% | 2.01% |
| Bharat Electronics Limited | 1.31% | 1.07% |
| Hindalco Industries Limited | 1.05% | 1.03% |
| Larsen & Toubro Limited | 0.95% | 3.35% |
| ITC Limited | 0.84% | 1.94% |
| Tata Steel Limited | 0.83% | 1.16% |
| Infosys Limited | 0.80% | 2.68% |
| Adani Enterprises Limited | 0.86% | 0.75% |
| Maruti Suzuki India Limited | 0.72% | 1.18% |
| Kotak Mahindra Bank Limited | 0.71% | 2.34% |
| Apollo Hospitals Enterprise Limited | 0.73% | 0.63% |
| Cipla Limited | 0.62% | 0.58% |
| The Federal Bank Limited | 0.58% | 0.60% |
| Jio Financial Services Limited | 0.82% | 0.55% |
| Adani Ports and Special Economic Zone Limited | 0.55% | 1.07% |
| The Indian Hotels Company Limited | 0.46% | 0.49% |
| IndusInd Bank Limited | 0.59% | 0.45% |
| HDFC Life Insurance Company Limited | 0.42% | 0.42% |
| IDFC First Bank Limited | 1.62% | 0.41% |
| AU Small Finance Bank Limited | 0.40% | 0.44% |
| Indus Towers Limited | 0.60% | 0.37% |
| Power Finance Corporation Limited | 0.58% | 0.36% |
| Hindustan Unilever Limited | 0.35% | 1.28% |
| Ashok Leyland Limited | 0.62% | 0.33% |
| Tata Consultancy Services Limited | 0.33% | 1.58% |
| Bajaj Finserv Limited | 0.33% | 0.74% |
| Canara Bank | 2.44% | 0.31% |
| Punjab National Bank | 1.10% | 0.30% |
| PB Fintech Limited | 0.74% | 0.29% |
| Suzlon Energy Limited | 0.29% | 0.36% |
| Yes Bank Limited | 0.58% | 0.28% |
| Tata Power Company Limited | 0.28% | 0.46% |
| Eternal Limited | 0.28% | 1.76% |
| Samvardhana Motherson International Limited | 0.28% | 0.55% |
| Shriram Finance Limited | 0.27% | 1.04% |
| SBI Life Insurance Company Limited | 0.26% | 0.58% |
| Trent Limited | 0.25% | 0.66% |
| Eicher Motors Limited | 0.24% | 0.75% |
| TVS Motor Company Limited | 0.23% | 0.73% |
| HCL Technologies Limited | 0.23% | 0.99% |
| Coal India Limited | 0.21% | 0.78% |
| Marico Limited | 0.20% | 0.32% |
| Hindustan Aeronautics Limited | 0.19% | 0.66% |
| Pidilite Industries Limited | 0.19% | 0.34% |
| Oil & Natural Gas Corporation Limited | 0.16% | 0.67% |
| Adani Power Limited | 0.13% | 0.66% |
| Sun Pharmaceutical Industries Limited | 0.12% | 1.50% |
| Avenue Supermarts Limited | 0.12% | 0.48% |
| Coforge Limited | 0.12% | 0.46% |
| HDFC Asset Management Company Limited | 0.11% | 0.35% |
| Shree Cement Limited | 0.10% | 0.22% |
| Cholamandalam Investment and Finance Company Ltd | 0.10% | 0.54% |
| One 97 Communications Limited | 0.09% | 0.55% |
| Titan Company Limited | 0.08% | 1.43% |
| Bank of Baroda | 0.07% | 0.33% |
| Varun Beverages Limited | 0.05% | 0.45% |
| Indian Oil Corporation Limited | 0.05% | 0.38% |
| JSW Steel Limited | 0.04% | 0.91% |
| Asian Paints Limited | 0.04% | 0.83% |
| InterGlobe Aviation Limited | 0.04% | 0.85% |
| Hero MotoCorp Limited | 0.01% | 0.51% |
| DLF Limited | 0.01% | 0.33% |
| Divi's Laboratories Limited | 0.01% | 0.90% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 47.5% means 47.5% 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% |
| Steel Authority of India Limited | 2.92% |
| Indian Bank (12/01/2027) | 1.78% |
| Hindustan Zinc Limited | 0.99% |
Largest holdings only in SBI BSE 100 ETF
| Security | % of fund |
|---|---|
| Ultratech Cement Ltd. | 0.98% |
| Power Grid Corporation of India Ltd. | 0.91% |
| Bajaj Auto Ltd. | 0.88% |
| Grasim Industries Ltd. | 0.87% |
| Tech Mahindra Ltd. | 0.75% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Bajaj Finserv Arbitrage | SBI BSE 100 ETF |
|---|---|---|
| Equity | 69.8% | 100.0% |
| Debt | 1.8% | 0.0% |
| Cash and others | 28.4% | 0.0% |
Market cap of stocks
| Market cap | Bajaj Finserv Arbitrage | SBI BSE 100 ETF |
|---|---|---|
| Large Cap | 52.9% | 90.2% |
| Mid Cap | 13.7% | 9.7% |
| Small Cap | 3.1% | 0.0% |
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 | SBI BSE 100 ETF |
|---|---|---|
| Banks | 24.4% | 26.7% |
| IT - Software | 1.7% | 7.5% |
| Petroleum Products | 5.3% | 6.8% |
| Automobiles | 2.3% | 6.5% |
| Finance | 5.9% | 5.8% |
| Telecom - Services | 3.5% | 4.5% |
| Ferrous Metals | 3.8% | 2.1% |
The six largest sectors of each fund's stocks, % of the fund.
Bajaj Finserv Arbitrage vs SBI BSE 100 ETF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Bajaj Finserv Arbitrage Fund | SBI BSE 100 ETF |
|---|---|---|
| Total expense ratio (Direct) | 1.29% | Not available |
| Base expense ratio (Direct) | 0.31% | 0.00% |
| Total expense ratio (Regular) | 1.99% | 0.16% |
| Base expense ratio (Regular) | 0.90% | 0.12% |
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 SBI BSE 100 ETF: Frequently Asked Questions
What is the difference between Bajaj Finserv Arbitrage Fund and SBI BSE 100 ETF?
Bajaj Finserv Arbitrage Fund is an Arbitrage fund, SBI BSE 100 ETF is a mutual fund, run by Bajaj Finserv Mutual Fund and SBI Mutual Fund. Their portfolios overlap 47.5%. Bajaj Finserv Arbitrage Fund charges 1.29% a year and SBI BSE 100 ETF 0.16%.
Which has given higher returns, Bajaj Finserv Arbitrage Fund or SBI BSE 100 ETF?
Over 1 year: Bajaj Finserv Arbitrage Fund +6.61%, SBI BSE 100 ETF −9.05%. Over 3 years: Bajaj Finserv Arbitrage Fund +6.98% a year, SBI BSE 100 ETF +8.78% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Bajaj Finserv Arbitrage Fund or SBI BSE 100 ETF?
SBI BSE 100 ETF charges less: 0.16% a year against 1.29%. These are the total expense ratios reported to AMFI.
How much do Bajaj Finserv Arbitrage Fund and SBI BSE 100 ETF overlap?
47.5%. They hold 71 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, RELIANCE. From each fund's latest monthly portfolio.
Which is better for SIP, Bajaj Finserv Arbitrage Fund or SBI BSE 100 ETF?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹4,10,793 in Bajaj Finserv Arbitrage Fund (XIRR 6.7% a year) and ₹3,72,729 in SBI BSE 100 ETF (XIRR 0.5% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both Bajaj Finserv Arbitrage Fund and SBI BSE 100 ETF?
Yes. 47.5% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
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.