Bandhan Nifty 100 Index Fund vs TRUSTMF Arbitrage Fund
Direct Plan, Growth option · Data as on 30-10-2026
Bandhan Nifty 100 Index Fund is an Index fund and TRUSTMF Arbitrage Fund is an Arbitrage fund. In the year to 30-10-2026, Bandhan Nifty 100 Index Fund (Direct) returned −8.8% and TRUSTMF Arbitrage Fund (Direct) returned 6.5%. Bandhan Nifty 100 Index Fund charges 0.18% a year and TRUSTMF Arbitrage Fund 1.42% (Direct plans). Their portfolios overlap 39.0%: they hold 38 of the same securities.
Bandhan Nifty 100 Index Fund
Index
- 1 year return
- −8.8%
- Expense ratio
- 0.18%
- NAV
- ₹14.41
TRUSTMF Arbitrage Fund
Arbitrage
- 1 year return
- 6.5%
- Expense ratio
- 1.42%
- NAV
- ₹10.76
Which is better, Bandhan Nifty 100 Index or TRUSTMF Arbitrage? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- TRUSTMF Arbitrage returned more over 1 year: 6.5% against −8.8%.
- Bandhan Nifty 100 Index costs less: 0.18% a year against 1.42% (Direct plans).
- TRUSTMF Arbitrage fell less in its worst fall since 01-09-2025: −0.4% against −14.9%.
- Bandhan Nifty 100 Index holds more in large companies: 97.9% of the fund in large caps against 61.3%.
- Bandhan Nifty 100 Index is the larger fund: ₹266 Cr against ₹138 Cr.
- Their portfolios overlap 39.0%: 38 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 Nifty 100 Index Fund | TRUSTMF Arbitrage Fund |
|---|---|---|
| Fund house | Bandhan Mutual Fund | Trust Mutual Fund |
| Category | Index | Arbitrage |
| AUM | ₹266 Cr (31-08-2026) | ₹138 Cr (30-09-2026) |
| NAV | ₹14.41 (Direct) | ₹10.76 (Direct) |
| Expense ratio (Direct) | 0.18% | 1.42% |
| Expense ratio (Regular) | 0.68% | 2.19% |
| Riskometer | Very High | Low |
| Benchmark | Nifty 100 TRI | Nifty 50 Arbitrage Index |
| Launch date | 24-02-2022 | 28-08-2025 |
| Minimum investment | ₹1,000 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Abhishek Jain | Mihir Vora, Sachin Parekh |
| Exit load | Nil | 0.25% If redeemed / switched out within 7 days from the date of allotment. Nil - if redeemed/switched out after 7 days from the date of allotment. |
Bandhan Nifty 100 Index vs TRUSTMF 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 Nifty 100 Index Fund (Direct) | +1.03% | −5.35% | −3.06% | −8.85% | +8.87% | -- | -- |
| TRUSTMF Arbitrage Fund (Direct) | +0.56% | +1.52% | +3.18% | +6.53% | -- | -- | -- |
| Arbitrage average | +0.56% | +1.52% | +3.20% | +6.62% | -- | -- | -- |
Category average: the average of the 39 Arbitrage funds, same plan type.
Bandhan Nifty 100 Index vs TRUSTMF Arbitrage: Year-wise Returns
| Year | Bandhan Nifty 100 IndexBandhan Nifty 100 Index | TRUSTMF ArbitrageTRUSTMF Arbitrage |
|---|---|---|
| 2026to date | −9.46% | +5.30% |
| 2025 | +10.06% | -- |
| 2024 | +12.69% | -- |
| 2023 | +21.06% | -- |
Bandhan Nifty 100 Index vs TRUSTMF Arbitrage: Rolling Returns
Every holding period of both funds, against Nifty 100 TRI, the benchmark of Bandhan Nifty 100 Index Fund
Rolling returns
Every 1-year holding period, 39 of them, one for each trading day from 01-09-2026 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.
Bandhan Nifty 100 Index Fund (Direct)
TRUSTMF Arbitrage Fund (Direct)
Nifty 100 TRI
to
Sept 2026Sept 2025
to
Sept 2026Sept 2025
to
Sept 2026Oct 2025
to
Oct 2026Oct 2025
to
Oct 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Bandhan Nifty 100 Index | 94.9 | 5.1 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | −5.6% | −5.4% | −10.6% | 0.6% | 0% |
| TRUSTMF Arbitrage | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 6.5% | 6.5% | 6.2% | 6.7% | 100% |
| Nifty 100 TRI | 94.9 | 5.1 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | −5.5% | −5.2% | −10.5% | 0.7% | -- |
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. The benchmark is Nifty 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 01-09-2025. Past returns do not promise future returns.
Bandhan Nifty 100 Index vs TRUSTMF 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 01-09-2025 to 30-10-2026: 14 instalments, ₹1,40,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Bandhan Nifty 100 IndexBandhan Nifty 100 Index Fund (Direct) | ₹1,40,000 | ₹1,33,639 | −₹6,361 | −7.3% |
| TRUSTMF ArbitrageTRUSTMF Arbitrage Fund (Direct) | ₹1,40,000 | ₹1,45,491 | ₹5,491 | 6.4% |
Bandhan Nifty 100 IndexBandhan Nifty 100 Index Fund (Direct)
TRUSTMF ArbitrageTRUSTMF 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 Nifty 100 Index vs TRUSTMF Arbitrage: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Bandhan Nifty 100 Index Fund (Direct) | TRUSTMF Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | −8.85% | +6.53% |
| Standard deviation | 13.89% | 1.41% |
| Sharpe ratio | -1.02 | 0.91 |
| Sortino ratio | -1.35 | 1.37 |
| Maximum drawdown | −14.9% (30-03-2026) | −0.4% (17-08-2026) |
| Beta | 1.00 | -- |
| Alpha | −0.17% | -- |
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 Nifty 100 Index Fund (Direct) | TRUSTMF Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.81% | +6.47% |
| Standard deviation | 13.41% | 1.33% |
| Sharpe ratio | 0.21 | 0.89 |
| Sortino ratio | 0.29 | 1.34 |
| Maximum drawdown | −17.3% (28-02-2025) | −0.4% (17-08-2026) |
| Beta | 1.00 | -- |
| Alpha | −0.20% | -- |
From daily NAVs, 25-02-2022 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 Nifty 100 Index Fund (Direct)
TRUSTMF Arbitrage Fund (Direct)
Nifty 100 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Bandhan Nifty 100 Index Fund (Direct) | −14.9% | 02-01-2026 | 30-03-2026 | Not yet | -- | −10.3% |
| TRUSTMF Arbitrage Fund (Direct) | −0.4% | 03-08-2026 | 17-08-2026 | 24-08-2026 | 7 days | −0.1% |
| Nifty 100 TRI | −14.9% | 02-01-2026 | 30-03-2026 | Not yet | -- | −10.1% |
From daily values since 01-09-2025, 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.
Bandhan Nifty 100 Index Fund (Direct)
TRUSTMF Arbitrage Fund (Direct)
Nifty 100 TRI
Against Nifty 100 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Bandhan Nifty 100 Index Fund (Direct) | 99% | 100% | 0.02% |
| TRUSTMF Arbitrage Fund (Direct) | 20% | -13% | 17.05% |
From month-end values since 01-09-2025. 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.
Bandhan Nifty 100 Index vs TRUSTMF Arbitrage: Portfolio Overlap
From each fund's latest monthly portfolio: Bandhan Nifty 100 Index Fund, August 2026; TRUSTMF Arbitrage Fund, September 2026
Holdings in common
- Overlap
- 39.0%
- Held by both
- 38
- Only in Bandhan Nifty 100 Index
- 62
- Only in TRUSTMF Arbitrage
- 19
| Security | % of Bandhan Nifty 100 Index | % of TRUSTMF Arbitrage |
|---|---|---|
| ICICI Bank Limited | 7.80% | 4.09% |
| HDFC Bank Limited | 8.13% | 4.08% |
| Reliance Industries Limited | 6.46% | 3.83% |
| Bharti Airtel Limited | 4.12% | 3.15% |
| Axis Bank Limited | 2.80% | 5.61% |
| Larsen & Toubro Limited | 3.54% | 2.20% |
| Bajaj Finance Limited | 2.12% | 2.61% |
| State Bank of India | 3.28% | 1.51% |
| Maruti Suzuki India Limited | 1.32% | 3.95% |
| ITC Limited | 1.84% | 1.25% |
| Tata Steel Limited | 1.14% | 2.28% |
| Mahindra & Mahindra Limited | 2.19% | 1.07% |
| Kotak Mahindra Bank Limited | 2.31% | 0.85% |
| UltraTech Cement Limited | 1.01% | 0.83% |
| Nestle India Limited | 0.80% | 1.57% |
| Apollo Hospitals Enterprise Limited | 0.69% | 1.33% |
| Eicher Motors Limited | 0.82% | 0.62% |
| Cholamandalam Investment and Finance Company Ltd | 0.60% | 0.66% |
| The Indian Hotels Company Limited | 0.49% | 0.95% |
| Cummins India Limited | 0.52% | 0.48% |
| Titan Company Limited | 1.58% | 0.47% |
| HDFC Life Insurance Company Limited | 0.44% | 0.46% |
| Varun Beverages Limited | 0.41% | 0.60% |
| HDFC Asset Management Company Limited | 0.40% | 0.65% |
| Hindalco Industries Limited | 1.10% | 0.38% |
| InterGlobe Aviation Limited | 0.89% | 0.38% |
| Asian Paints Limited | 0.90% | 0.35% |
| Adani Energy Solutions Limited | 0.35% | 0.97% |
| Bank of Baroda | 0.33% | 0.64% |
| Canara Bank | 0.32% | 6.38% |
| Punjab National Bank | 0.29% | 1.31% |
| Sun Pharmaceutical Industries Limited | 1.57% | 0.23% |
| Power Finance Corporation Limited | 0.37% | 0.21% |
| Ambuja Cements Limited | 0.19% | 0.91% |
| Adani Ports and Special Economic Zone Limited | 0.88% | 0.12% |
| Eternal Limited | 1.78% | 0.11% |
| Indian Oil Corporation Limited | 0.39% | 0.05% |
| Power Grid Corporation of India Limited | 0.89% | 0.04% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 39.0% means 39.0% 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 Nifty 100 Index Fund
| Security | % of fund |
|---|---|
| Infosys Limited | 2.98% |
| Tata Consultancy Services Limited | 1.83% |
| Hindustan Unilever Limited | 1.31% |
| Shriram Finance Limited | 1.16% |
| NTPC Limited | 1.16% |
Largest holdings only in TRUSTMF Arbitrage Fund
| Security | % of fund |
|---|---|
| TRUSTMF Liquid Fund-Direct Plan-Growth | 18.59% |
| Kalyan Jewellers India Limited | 2.93% |
| Vodafone Idea Limited | 2.55% |
| Indus Towers Limited | 2.53% |
| Bandhan Bank Limited | 1.91% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Bandhan Nifty 100 Index | TRUSTMF Arbitrage |
|---|---|---|
| Equity | 101.5% | 77.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | -1.5% | 23.0% |
Market cap of stocks
| Market cap | Bandhan Nifty 100 Index | TRUSTMF Arbitrage |
|---|---|---|
| Large Cap | 97.9% | 61.3% |
| Mid Cap | 3.6% | 10.7% |
| Small Cap | 0.0% | 5.0% |
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 | Bandhan Nifty 100 Index | TRUSTMF Arbitrage |
|---|---|---|
| Banks | 25.5% | 29.5% |
| Telecom - Services | 4.1% | 8.2% |
| Petroleum Products | 7.3% | 3.9% |
| IT - Software | 7.3% | 0.0% |
| Finance | 6.9% | 4.5% |
| Automobiles | 6.8% | 5.6% |
| Pharmaceuticals & Biotechnology | 4.4% | 0.9% |
| Consumer Durables | 2.5% | 4.3% |
The six largest sectors of each fund's stocks, % of the fund.
Bandhan Nifty 100 Index vs TRUSTMF Arbitrage: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Bandhan Nifty 100 Index Fund | TRUSTMF Arbitrage Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.18% | 1.42% |
| Base expense ratio (Direct) | 0.08% | 0.17% |
| Total expense ratio (Regular) | 0.68% | 2.19% |
| Base expense ratio (Regular) | 0.51% | 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 Nifty 100 Index Fund vs TRUSTMF Arbitrage Fund: Frequently Asked Questions
What is the difference between Bandhan Nifty 100 Index Fund and TRUSTMF Arbitrage Fund?
Bandhan Nifty 100 Index Fund is an Index fund, TRUSTMF Arbitrage Fund is an Arbitrage fund, run by Bandhan Mutual Fund and Trust Mutual Fund. Their portfolios overlap 39.0%. Bandhan Nifty 100 Index Fund charges 0.18% a year and TRUSTMF Arbitrage Fund 1.42%.
Which has given higher returns, Bandhan Nifty 100 Index Fund or TRUSTMF Arbitrage Fund?
Over 1 year: Bandhan Nifty 100 Index Fund −8.85%, TRUSTMF Arbitrage Fund +6.53%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Bandhan Nifty 100 Index Fund or TRUSTMF Arbitrage Fund?
Bandhan Nifty 100 Index Fund charges less: 0.18% a year against 1.42%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Bandhan Nifty 100 Index Fund and TRUSTMF Arbitrage Fund overlap?
39.0%. They hold 38 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, RELIANCE. From each fund's latest monthly portfolio.
Which is riskier, Bandhan Nifty 100 Index Fund or TRUSTMF Arbitrage Fund?
On SEBI's riskometer, Bandhan Nifty 100 Index Fund is rated Very High and TRUSTMF Arbitrage Fund Low. Over 1 years, the standard deviation of daily returns was 13.89% and 1.41% a year.
Can I invest in both Bandhan Nifty 100 Index Fund and TRUSTMF Arbitrage Fund?
Yes. 39.0% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Bandhan Nifty 100 Index Fund and TRUSTMF Arbitrage Fund?
Bandhan Nifty 100 Index Fund: Abhishek Jain. TRUSTMF Arbitrage Fund: Mihir Vora, Sachin Parekh.
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.