Bandhan Arbitrage Fund vs Baroda BNP Paribas Arbitrage Fund
Direct Plan, Growth option · Data as on 30-10-2026
Bandhan Arbitrage Fund and Baroda BNP Paribas Arbitrage Fund are both Arbitrage funds. In the 3 years to 30-10-2026, Bandhan Arbitrage Fund (Direct) returned 7.3% a year and Baroda BNP Paribas Arbitrage Fund (Direct) returned 7.2% a year. Bandhan Arbitrage Fund charges 1.63% a year and Baroda BNP Paribas Arbitrage Fund 1.47% (Direct plans). Their portfolios overlap 40.5%: they hold 83 of the same securities.
Bandhan Arbitrage Fund
Arbitrage
- 3 year return
- 7.3%
- Expense ratio
- 1.63%
- NAV
- ₹38.12
Baroda BNP Paribas Arbitrage Fund
Arbitrage
- 3 year return
- 7.2%
- Expense ratio
- 1.47%
- NAV
- ₹18.40
Which is better, Bandhan Arbitrage or Baroda BNP Paribas Arbitrage? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Bandhan Arbitrage returned more over 3 years: 7.3% a year against 7.2%.
- Bandhan Arbitrage returned more over 1 year: 6.5% against 6.3%.
- Baroda BNP Paribas Arbitrage costs less: 1.47% a year against 1.63% (Direct plans).
- Bandhan Arbitrage swung less over 3 years: a standard deviation of 1.1% a year against 1.1%.
- Baroda BNP Paribas Arbitrage fell less in its worst fall since 14-03-2022: −0.3% against −0.4%.
- Bandhan Arbitrage is the larger fund: ₹7,796 Cr against ₹1,015 Cr.
- Their portfolios overlap 40.5%: 83 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 | Bandhan Arbitrage Fund | Baroda BNP Paribas Arbitrage Fund |
|---|---|---|
| Fund house | Bandhan Mutual Fund | Baroda BNP Paribas Mutual Fund |
| Category | Arbitrage | Arbitrage |
| AUM | ₹7,796 Cr (31-08-2026) | ₹1,015 Cr (30-09-2026) |
| NAV | ₹38.12 (Direct) | ₹18.40 (Direct) |
| Expense ratio (Direct) | 1.63% | 1.47% |
| Expense ratio (Regular) | 2.35% | 2.24% |
| Riskometer | Low | Not available |
| Benchmark | Nifty 50 Arbitrage Index | Not available |
| Launch date | 21-12-2006 | Not available |
| Minimum investment | ₹100 | Not available |
| Lock in | None | Not available |
| Fund managers | Kapil Kankonkar, Harshal Joshi, Ritika Behera, Gaurav Satra, Brijesh Shah | Not available |
| Exit load | W.e.f 01-Jul-2016 Entry Load: Nil - Exit Load: 0.25% if redeemed / switched out within 1 month from the date of allotment, for all investments (including SIP/STP-in registered) from the effective date. Please refer the scheme information document / addend | Not available |
Bandhan Arbitrage vs Baroda BNP Paribas 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 |
|---|---|---|---|---|---|---|---|
| Bandhan Arbitrage Fund (Direct) | +0.53% | +1.49% | +3.16% | +6.48% | +7.27% | +6.78% | +6.33% |
| Baroda BNP Paribas Arbitrage Fund (Direct) | +0.51% | +1.41% | +3.03% | +6.29% | +7.22% | -- | -- |
| Arbitrage average | +0.56% | +1.52% | +3.20% | +6.62% | +7.18% | -- | -- |
Category average: the average of the 39 Arbitrage funds, same plan type.
Bandhan Arbitrage vs Baroda BNP Paribas Arbitrage: Year-wise Returns
| Year | BandhanBandhan Arbitrage | Baroda BNP ParibasBaroda BNP Paribas Arbitrage |
|---|---|---|
| 2026to date | +5.28% | +5.07% |
| 2025 | +7.02% | +7.02% |
| 2024 | +8.31% | +8.26% |
| 2023 | +7.86% | +7.87% |
| 2022 | +4.83% | -- |
| 2021 | +4.24% | -- |
Bandhan Arbitrage vs Baroda BNP Paribas Arbitrage: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 406 of them, one for each trading day from 17-03-2025 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.
Bandhan Arbitrage Fund (Direct)
Baroda BNP Paribas Arbitrage Fund (Direct)
to
May 2025Aug 2022
to
Aug 2025Nov 2022
to
Nov 2025Mar 2023
to
Mar 2026Jun 2023
to
Jun 2026Sept 2023
to
Sept 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Bandhan Arbitrage | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7.6% | 7.6% | 7.2% | 7.8% |
| Baroda BNP Paribas Arbitrage | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7.5% | 7.5% | 7.0% | 7.8% |
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. Every fund is measured over the days all of them have, from 14-03-2022. Past returns do not promise future returns.
Bandhan Arbitrage vs Baroda BNP Paribas Arbitrage: 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 02-03-2022 to 30-10-2026: 56 instalments, ₹5,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Bandhan ArbitrageBandhan Arbitrage Fund (Direct) | ₹5,60,000 | ₹6,61,928 | ₹1,01,928 | 7.1% |
| Baroda BNP Paribas ArbitrageBaroda BNP Paribas Arbitrage Fund (Direct) | ₹5,60,000 | ₹6,60,412 | ₹1,00,412 | 7.0% |
Bandhan ArbitrageBandhan Arbitrage Fund (Direct)
Baroda BNP Paribas ArbitrageBaroda BNP Paribas Arbitrage Fund (Direct)
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.
Bandhan Arbitrage vs Baroda BNP Paribas Arbitrage: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Bandhan Arbitrage Fund (Direct) | Baroda BNP Paribas Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.48% | +6.29% |
| Standard deviation | 1.33% | 1.30% |
| Sharpe ratio | 0.93 | 0.81 |
| Sortino ratio | 1.41 | 1.23 |
| Maximum drawdown | −0.4% (06-08-2026) | −0.3% (04-09-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 | Bandhan Arbitrage Fund (Direct) | Baroda BNP Paribas Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.27% | +7.22% |
| Standard deviation | 1.06% | 1.08% |
| Sharpe ratio | 1.17 | 1.11 |
| Sortino ratio | 1.80 | 1.71 |
| Maximum drawdown | −0.4% (06-08-2026) | −0.3% (04-09-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 | Bandhan Arbitrage Fund (Direct) | Baroda BNP Paribas Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.91% | +6.87% |
| Standard deviation | 0.99% | 1.01% |
| Sharpe ratio | 0.88 | 0.88 |
| Sortino ratio | 1.31 | 1.32 |
| Maximum drawdown | −0.8% (25-03-2020) | −0.3% (04-09-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 17-01-2013 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.
Bandhan Arbitrage Fund (Direct)
Baroda BNP Paribas Arbitrage Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Bandhan Arbitrage Fund (Direct) | −0.4% | 03-08-2026 | 06-08-2026 | 24-08-2026 | 18 days | −0.0% |
| Baroda BNP Paribas Arbitrage Fund (Direct) | −0.3% | 01-09-2026 | 04-09-2026 | 10-09-2026 | 6 days | −0.1% |
From daily values since 14-03-2022, 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.
Bandhan Arbitrage Fund (Direct)
Baroda BNP Paribas Arbitrage Fund (Direct)
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.
Bandhan Arbitrage Fund (Direct)
Baroda BNP Paribas Arbitrage Fund (Direct)
Bandhan Arbitrage vs Baroda BNP Paribas Arbitrage: Portfolio Overlap
From each fund's latest monthly portfolio: Bandhan Arbitrage Fund, August 2026; Baroda BNP Paribas Arbitrage Fund, September 2026
Holdings in common
- Overlap
- 40.5%
- Held by both
- 83
- Only in Bandhan Arbitrage
- 75
- Only in Baroda BNP Paribas Arbitrage
- 8
| Security | % of Bandhan Arbitrage | % of Baroda BNP Paribas Arbitrage |
|---|---|---|
| HDFC Bank Limited | 4.76% | 3.69% |
| Vodafone Idea Limited | 2.94% | 4.55% |
| Axis Bank Limited | 2.41% | 3.86% |
| ICICI Bank Limited | 2.30% | 2.92% |
| Reliance Industries Limited | 2.11% | 2.31% |
| State Bank of India | 1.66% | 1.90% |
| Canara Bank | 1.31% | 3.75% |
| JSW Steel Limited | 1.18% | 1.18% |
| Kotak Mahindra Bank Limited | 1.72% | 1.13% |
| Glenmark Pharmaceuticals Limited | 1.11% | 3.21% |
| Jio Financial Services Limited | 1.43% | 1.09% |
| Steel Authority of India Limited | 1.03% | 1.58% |
| Punjab National Bank | 1.10% | 0.97% |
| Tata Steel Limited | 0.91% | 0.94% |
| Coal India Limited | 0.91% | 1.34% |
| Life Insurance Corporation Of India | 1.07% | 0.88% |
| Bharat Heavy Electricals Limited | 1.09% | 0.81% |
| Hindustan Unilever Limited | 0.79% | 0.94% |
| Indus Towers Limited | 0.71% | 1.46% |
| Crompton Greaves Consumer Electricals Limited | 0.66% | 1.33% |
| Adani Power Limited | 0.66% | 2.69% |
| Adani Energy Solutions Limited | 0.66% | 2.81% |
| Adani Enterprises Limited | 1.46% | 0.60% |
| Bharat Electronics Limited | 0.60% | 1.16% |
| Hindalco Industries Limited | 0.53% | 0.86% |
| NMDC Limited | 0.50% | 2.82% |
| Yes Bank Limited | 0.47% | 0.49% |
| Manappuram Finance Limited | 0.46% | 2.79% |
| Container Corporation of India Limited | 0.43% | 1.07% |
| Indian Energy Exchange Limited | 0.43% | 0.40% |
| Bharti Airtel Limited | 1.63% | 0.38% |
| Ambuja Cements Limited | 0.59% | 0.38% |
| Grasim Industries Limited | 0.37% | 0.44% |
| Tata Power Company Limited | 0.37% | 0.57% |
| Adani Green Energy Limited | 0.34% | 2.69% |
| Union Bank of India | 0.59% | 0.33% |
| Bajaj Finance Limited | 0.30% | 0.38% |
| Godrej Properties Limited | 0.27% | 0.32% |
| Inox Wind Limited | 0.23% | 1.14% |
| NTPC Limited | 0.38% | 0.22% |
| Tata Consumer Products Limited | 0.22% | 0.76% |
| Maruti Suzuki India Limited | 0.23% | 0.19% |
| Biocon Limited | 0.52% | 0.17% |
| GE Vernova T&D India Limited | 0.39% | 0.17% |
| PG Electroplast Limited | 0.16% | 0.15% |
| The Indian Hotels Company Limited | 0.72% | 0.14% |
| LIC Housing Finance Limited | 0.52% | 0.14% |
| Lupin Limited | 0.33% | 0.13% |
| Aditya Birla Capital Limited | 0.13% | 0.21% |
| GMR Airports Limited | 0.13% | 0.20% |
| Hindustan Aeronautics Limited | 0.49% | 0.12% |
| HDFC Life Insurance Company Limited | 0.83% | 0.11% |
| The Federal Bank Limited | 0.45% | 0.11% |
| One 97 Communications Limited | 0.24% | 0.11% |
| Samvardhana Motherson International Limited | 0.71% | 0.10% |
| ITC Limited | 0.38% | 0.10% |
| Multi Commodity Exchange of India Limited | 0.16% | 0.10% |
| RBL Bank Limited | 0.10% | 0.18% |
| Infosys Limited | 0.34% | 0.08% |
| Colgate Palmolive (India) Limited | 0.08% | 0.11% |
| Divi's Laboratories Limited | 0.53% | 0.07% |
| Bank of India | 0.46% | 0.07% |
| Larsen & Toubro Limited | 1.55% | 0.06% |
| Mahindra & Mahindra Limited | 0.06% | 0.23% |
| Bajaj Finserv Limited | 0.06% | 0.11% |
| Cummins India Limited | 0.68% | 0.05% |
| Jindal Steel Limited | 0.61% | 0.05% |
| APL Apollo Tubes Limited | 0.56% | 0.05% |
| Cipla Limited | 0.05% | 0.75% |
| JSW Energy Limited | 0.08% | 0.04% |
| Patanjali Foods Limited | 0.22% | 0.03% |
| UltraTech Cement Limited | 0.18% | 0.03% |
| Alkem Laboratories Limited | 0.10% | 0.03% |
| PNB Housing Finance Limited | 0.03% | 2.50% |
| Varun Beverages Limited | 0.62% | 0.02% |
| Kalyan Jewellers India Limited | 0.43% | 0.02% |
| National Aluminium Company Limited | 0.05% | 0.02% |
| Info Edge (India) Limited | 0.02% | 0.74% |
| Bank of Baroda | 0.56% | 0.01% |
| Asian Paints Limited | 0.05% | 0.01% |
| Zydus Lifesciences Limited | 0.03% | 0.01% |
| NBCC (India) Limited | 0.01% | 0.05% |
| Titan Company Limited | 0.01% | 0.01% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 40.5% means 40.5% 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 Bandhan Arbitrage Fund
| Security | % of fund |
|---|---|
| Bandhan Money Market Fund -Direct Plan-Growth | 13.36% |
| Bandhan Ultra Short to Short Term Fund-DR GR | 8.85% |
| Bandhan Ultra Short Term Fund - DR Plan GR | 3.59% |
| Adani Ports and Special Economic Zone Limited | 1.02% |
| Max Financial Services Limited | 0.89% |
Largest holdings only in Baroda BNP Paribas Arbitrage Fund
| Security | % of fund |
|---|---|
| Baroda BNP Paribas Liquid Fund - Direct Growth | 8.00% |
| 364 Days Tbill (MD 11/03/2027) | 4.80% |
| 182 Days Tbill (MD 19/11/2026) | 2.45% |
| 364 Days Tbill (MD 26/11/2026) | 2.44% |
| 364 Days Tbill (MD 19/03/2027) | 2.40% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Bandhan Arbitrage | Baroda BNP Paribas Arbitrage |
|---|---|---|
| Equity | 72.8% | 71.2% |
| Debt | 0.1% | 12.1% |
| Cash and others | 27.1% | 16.7% |
Market cap of stocks
| Market cap | Bandhan Arbitrage | Baroda BNP Paribas Arbitrage |
|---|---|---|
| Large Cap | 53.8% | 50.1% |
| Mid Cap | 15.5% | 11.9% |
| Small Cap | 3.4% | 9.2% |
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 | Bandhan Arbitrage | Baroda BNP Paribas Arbitrage |
|---|---|---|
| Banks | 19.2% | 19.9% |
| Power | 2.5% | 9.0% |
| Finance | 4.3% | 7.2% |
| Telecom - Services | 5.3% | 6.4% |
| Pharmaceuticals & Biotechnology | 3.6% | 4.4% |
| Ferrous Metals | 3.7% | 3.8% |
| Insurance | 3.1% | 1.0% |
The six largest sectors of each fund's stocks, % of the fund.
Bandhan Arbitrage vs Baroda BNP Paribas Arbitrage: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Bandhan Arbitrage Fund | Baroda BNP Paribas Arbitrage Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.63% | 1.47% |
| Base expense ratio (Direct) | 0.29% | 0.31% |
| Total expense ratio (Regular) | 2.35% | 2.24% |
| Base expense ratio (Regular) | 0.91% | 0.97% |
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 Bandhan Arbitrage with
Compare Baroda BNP Paribas Arbitrage with
Bandhan Arbitrage Fund vs Baroda BNP Paribas Arbitrage Fund: Frequently Asked Questions
What is the difference between Bandhan Arbitrage Fund and Baroda BNP Paribas Arbitrage Fund?
Both are Arbitrage funds, run by Bandhan Mutual Fund and Baroda BNP Paribas Mutual Fund. Their portfolios overlap 40.5%. Bandhan Arbitrage Fund charges 1.63% a year and Baroda BNP Paribas Arbitrage Fund 1.47%.
Which has given higher returns, Bandhan Arbitrage Fund or Baroda BNP Paribas Arbitrage Fund?
Over 1 year: Bandhan Arbitrage Fund +6.48%, Baroda BNP Paribas Arbitrage Fund +6.29%. Over 3 years: Bandhan Arbitrage Fund +7.27% a year, Baroda BNP Paribas Arbitrage Fund +7.22% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Bandhan Arbitrage Fund or Baroda BNP Paribas Arbitrage Fund?
Baroda BNP Paribas Arbitrage Fund charges less: 1.47% a year against 1.63%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Bandhan Arbitrage Fund and Baroda BNP Paribas Arbitrage Fund overlap?
40.5%. They hold 83 of the same securities, the largest shared ones being HDFCBANK, IDEA, AXISBANK. From each fund's latest monthly portfolio.
Which is better for SIP, Bandhan Arbitrage Fund or Baroda BNP Paribas Arbitrage Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹4,11,560 in Bandhan Arbitrage Fund (XIRR 6.9% a year) and ₹4,10,804 in Baroda BNP Paribas Arbitrage Fund (XIRR 6.7% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both Bandhan Arbitrage Fund and Baroda BNP Paribas Arbitrage Fund?
Yes. 40.5% 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.