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    Bandhan Arbitrage Fund vs DSP Arbitrage fund

    Direct Plan, Growth option · Data as on 30-10-2026

    Bandhan Arbitrage Fund and DSP Arbitrage fund are both Arbitrage funds. In the 3 years to 30-10-2026, Bandhan Arbitrage Fund (Direct) returned 7.3% a year and DSP Arbitrage fund (Direct) returned 7.2% a year. Bandhan Arbitrage Fund charges 1.63% a year and DSP Arbitrage fund 1.17% (Direct plans). Their portfolios overlap 49.7%: they hold 133 of the same securities.

    Bandhan Arbitrage Fund

    Arbitrage

    3 year return
    7.3%
    Expense ratio
    1.63%
    NAV
    ₹38.12
    See Bandhan Arbitrage Fund

    DSP Arbitrage fund

    Arbitrage

    3 year return
    7.2%
    Expense ratio
    1.17%
    NAV
    ₹16.99
    See DSP Arbitrage fund

    Which is better, Bandhan Arbitrage or DSP Arbitrage fund? 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 5 years: 6.8% a year against 6.7%.
    • Bandhan Arbitrage returned more over 3 years: 7.3% a year against 7.2%.
    • DSP Arbitrage fund costs less: 1.17% 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%.
    • DSP Arbitrage fund fell less in its worst fall since 29-01-2018: −0.6% against −0.8%.
    • Bandhan Arbitrage is the larger fund: ₹7,796 Cr against ₹6,720 Cr.
    • Their portfolios overlap 49.7%: 133 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

    FactBandhan Arbitrage FundDSP Arbitrage fund
    Fund houseBandhan Mutual FundDSP Mutual Fund
    CategoryArbitrageArbitrage
    AUM₹7,796 Cr (31-08-2026)₹6,720 Cr (30-09-2026)
    NAV₹38.12 (Direct)₹16.99 (Direct)
    Expense ratio (Direct)1.63%1.17%
    Expense ratio (Regular)2.35%1.81%
    RiskometerLowLow
    BenchmarkNifty 50 Arbitrage IndexNifty 50 Arbitrage Index
    Launch date21-12-200625-01-2018
    Minimum investment₹100₹100
    Lock inNoneNone
    Fund managersKapil Kankonkar, Harshal Joshi, Ritika Behera, Gaurav Satra, Brijesh ShahKaivalya Nadkarni, Karan Mundhra
    Exit loadW.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 / addendExit Load for units in excess of 10% of the investment,0.25% will be charged for redemption within 15 days.

    Bandhan Arbitrage vs DSP Arbitrage fund: Returns Comparison

    Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.

    Fund1M3M6M1Y3Y5Y10Y
    Bandhan Arbitrage Fund (Direct)+0.53%+1.49%+3.16%+6.48%+7.27%+6.78%+6.33%
    DSP Arbitrage fund (Direct)+0.49%+1.47%+3.15%+6.49%+7.18%+6.68%--
    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.

    Bandhan Arbitrage vs DSP Arbitrage fund: Year-wise Returns

    YearBandhan ArbitrageBandhan ArbitrageDSP Arbitrage fundDSP Arbitrage fund
    2026to date+5.28%+5.29%
    2025+7.02%+6.88%
    2024+8.31%+8.18%
    2023+7.86%+7.80%
    2022+4.83%+4.68%
    2021+4.24%+4.02%

    Bandhan Arbitrage vs DSP Arbitrage fund: Rolling Returns

    Every holding period of both funds

    Rolling returns

    Every 3-year holding period, 1,425 of them, one for each trading day from 29-01-2021 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.

    0%2%4%6%8%
    Jul 2018
    to
    Jul 2021
    Jul 2019
    to
    Jul 2022
    Jun 2020
    to
    Jun 2023
    Jun 2021
    to
    Jun 2024
    Jun 2022
    to
    Jun 2025
    May 2023
    to
    May 2026
    Bandhan Arbitrage Fund (Direct)DSP Arbitrage fund (Direct)

    How the periods spread

    FundBelow 0%0-5%5-10%10-15%15-20%20-25%Above 25%MeanMedianLowestHighest
    Bandhan Arbitrage0.021.478.60.00.00.00.06.1%5.9%4.4%7.8%
    DSP Arbitrage fund0.023.776.30.00.00.00.06.0%5.8%4.3%7.7%

    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 29-01-2018. Past returns do not promise future returns.

    Bandhan Arbitrage vs DSP Arbitrage fund: 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

    Step up each year
    PeriodFor

    ₹10,000 on the first trading day of every month, from 01-01-2018 to 30-10-2026: 106 instalments, ₹10,60,000 in all.

    InvestmentInvestedValue nowGainReturn a year
    Bandhan ArbitrageBandhan Arbitrage Fund (Direct) ₹10,60,000 ₹14,22,067 ₹3,62,067 6.5%
    DSP Arbitrage fundDSP Arbitrage fund (Direct) ₹10,60,000 ₹14,16,546 ₹3,56,546 6.4%
    ₹0₹5.0 L₹10.0 L₹15.0 L
    20192020202120222023202420252026
    Bandhan ArbitrageBandhan Arbitrage Fund (Direct)DSP Arbitrage fundDSP 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 DSP Arbitrage fund: Risk and Drawdowns

    How much each fund swings, and the worst fall over the same days

    Risk and return

    MeasureBandhan Arbitrage Fund (Direct)DSP Arbitrage fund (Direct)
    Return (CAGR)+7.27%+7.18%
    Standard deviation1.06%1.08%
    Sharpe ratio1.171.07
    Sortino ratio1.801.65
    Maximum drawdown−0.4% (06-08-2026)−0.4% (06-08-2026)
    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.

    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.

    −0.8%−0.6%−0.4%−0.2%0%
    20192020202120222023202420252026
    Bandhan Arbitrage Fund (Direct)DSP Arbitrage fund (Direct)
    FundWorst fallHigh before itBottomBack at the highTime to climb backBelow its high today
    Bandhan Arbitrage Fund (Direct)−0.8%16-03-202025-03-202020-04-202026 days−0.0%
    DSP Arbitrage fund (Direct)−0.6%16-03-202025-03-202031-03-20206 days−0.1%

    From daily values since 29-01-2018, 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 3-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.

    0%0.2%0.4%0.6%0.8%1%1.2%
    20222023202420252026
    Bandhan Arbitrage Fund (Direct)DSP Arbitrage fund (Direct)

    Bandhan Arbitrage vs DSP Arbitrage fund: Portfolio Overlap

    From each fund's latest monthly portfolio: Bandhan Arbitrage Fund, August 2026; DSP Arbitrage fund, September 2026

    Holdings in common

    Overlap
    49.7%
    Held by both
    133
    Only in Bandhan Arbitrage
    25
    Only in DSP Arbitrage fund
    47
    Security% of Bandhan Arbitrage% of DSP Arbitrage fund
    HDFC Bank Limited4.76%4.76%
    Vodafone Idea Limited2.94%3.05%
    ICICI Bank Limited2.30%2.73%
    Axis Bank Limited2.41%2.16%
    Reliance Industries Limited2.11%4.63%
    Bharti Airtel Limited1.63%1.62%
    State Bank of India1.66%1.55%
    Kotak Mahindra Bank Limited1.72%1.38%
    Canara Bank1.31%1.21%
    JSW Steel Limited1.18%1.31%

    Overlap: for each holding both funds own, the smaller of its two weights, added up. 49.7% means 49.7% 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-Growth13.36%
    Bandhan Ultra Short to Short Term Fund-DR GR8.85%
    Bandhan Ultra Short Term Fund - DR Plan GR3.59%
    Tech Mahindra Limited0.67%
    Ambuja Cements Limited0.59%

    Largest holdings only in DSP Arbitrage fund

    Security% of fund
    DSP Money Market Fund10.96%
    Bank of Baroda2.89%
    Indian Bank2.83%
    National Bank For Agriculture & Rural Development1.44%
    Small Industries Development Bank of India1.04%

    Asset and sector split

    Share of each fund, from its latest monthly portfolio

    Asset allocation

    AssetBandhan ArbitrageDSP Arbitrage fund
    Equity72.8%66.9%
    Debt0.1%19.3%
    Cash and others27.1%13.8%

    Market cap of stocks

    Market capBandhan ArbitrageDSP Arbitrage fund
    Large Cap53.8%50.0%
    Mid Cap15.5%12.8%
    Small Cap3.4%4.2%

    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

    SectorBandhan ArbitrageDSP Arbitrage fund
    Banks19.2%19.9%
    Telecom - Services5.3%5.6%
    Finance4.3%5.0%
    Petroleum Products3.0%4.7%
    Ferrous Metals3.7%3.4%
    Pharmaceuticals & Biotechnology3.6%3.4%
    Insurance3.1%0.9%

    The six largest sectors of each fund's stocks, % of the fund.

    Bandhan Arbitrage vs DSP Arbitrage fund: Expense Ratio

    What each plan charges a year, from AMFI's expense ratio file

    ChargeBandhan Arbitrage FundDSP Arbitrage fund
    Total expense ratio (Direct)1.63%1.17%
    Base expense ratio (Direct)0.29%0.31%
    Total expense ratio (Regular)2.35%1.81%
    Base expense ratio (Regular)0.91%0.85%

    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

    Bandhan Arbitrage Fund vs DSP Arbitrage fund: Frequently Asked Questions

    What is the difference between Bandhan Arbitrage Fund and DSP Arbitrage fund?

    Both are Arbitrage funds, run by Bandhan Mutual Fund and DSP Mutual Fund. Their portfolios overlap 49.7%. Bandhan Arbitrage Fund charges 1.63% a year and DSP Arbitrage fund 1.17%.

    Which has given higher returns, Bandhan Arbitrage Fund or DSP Arbitrage fund?

    Over 1 year: Bandhan Arbitrage Fund +6.48%, DSP Arbitrage fund +6.49%. Over 3 years: Bandhan Arbitrage Fund +7.27% a year, DSP Arbitrage fund +7.18% a year. Over 5 years: Bandhan Arbitrage Fund +6.78% a year, DSP Arbitrage fund +6.68% a year. As on 30-10-2026. Past returns do not promise future returns.

    Which has the lower expense ratio, Bandhan Arbitrage Fund or DSP Arbitrage fund?

    DSP Arbitrage fund charges less: 1.17% a year against 1.63%. These are the Direct plans' total expense ratios reported to AMFI.

    How much do Bandhan Arbitrage Fund and DSP Arbitrage fund overlap?

    49.7%. They hold 133 of the same securities, the largest shared ones being HDFCBANK, IDEA, ICICIBANK. From each fund's latest monthly portfolio.

    Which is riskier, Bandhan Arbitrage Fund or DSP Arbitrage fund?

    On SEBI's riskometer, Bandhan Arbitrage Fund is rated Low and DSP Arbitrage fund Low. Over 3 years, the standard deviation of daily returns was 1.06% and 1.08% a year.

    Which is better for SIP, Bandhan Arbitrage Fund or DSP Arbitrage fund?

    Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,31,125 in Bandhan Arbitrage Fund (XIRR 7.1% a year) and ₹7,29,779 in DSP Arbitrage fund (XIRR 7.0% a year). Both received 61 instalments. Past returns do not promise future returns.

    Can I invest in both Bandhan Arbitrage Fund and DSP Arbitrage fund?

    Yes. 49.7% of each fund's money sits in the same holdings, so a large part of the two investments would move together.

    Who manages Bandhan Arbitrage Fund and DSP Arbitrage fund?

    Bandhan Arbitrage Fund: Kapil Kankonkar, Harshal Joshi, Ritika Behera, Gaurav Satra, Brijesh Shah. DSP Arbitrage fund: Kaivalya Nadkarni, Karan Mundhra.

    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.

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